Document:

EX-4.7

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Exhibit 4.7 

Execution Version 

CHANGE HEALTHCARE INC., 

as Issuer, 
 and

 U.S. BANK N.A., 

as Trustee 
  

 
 INDENTURE

 Dated as of July 1, 2019 
  

 
 Senior
Securities 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Table of Contents 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	1	 
			
	 Section 1.01
	  	Definitions	  	 	1	 
	 Section 1.02
	  	Compliance Certificates and Opinions	  	 	6	 
	 Section 1.03
	  	Form of Documents Delivered to Trustee	  	 	6	 
	 Section 1.04
	  	Acts of Holders; Record Dates	  	 	7	 
	 Section 1.05
	  	Notices, Etc., to Trustee and Company	  	 	8	 
	 Section 1.06
	  	Notice to Holders; Waiver	  	 	9	 
	 Section 1.07
	  	Conflict with Trust Indenture Act	  	 	9	 
	 Section 1.08
	  	Effect of Headings and Table of Contents	  	 	9	 
	 Section 1.09
	  	Successors and Assigns	  	 	10	 
	 Section 1.10
	  	Separability Clause	  	 	10	 
	 Section 1.11
	  	Benefits of Indenture	  	 	10	 
	 Section 1.12
	  	Governing Law	  	 	10	 
	 Section 1.13
	  	Legal Holidays	  	 	10	 
		
	 ARTICLE II SECURITY FORMS
	  	 	10	 
			
	 Section 2.01
	  	Forms Generally	  	 	10	 
	 Section 2.02
	  	Form of Face of Security	  	 	11	 
	 Section 2.03
	  	Form of Reverse of Security	  	 	12	 
	 Section 2.04
	  	Form of Legend for Global Securities	  	 	14	 
	 Section 2.05
	  	Form of Trustee’s Certificate of Authentication	  	 	14	 
		
	 ARTICLE III THE SECURITIES
	  	 	14	 
			
	 Section 3.01
	  	Amount Unlimited; Issuable in Series	  	 	14	 
	 Section 3.02
	  	Denominations	  	 	17	 
	 Section 3.03
	  	Execution, Authentication, Delivery and Dating	  	 	17	 
	 Section 3.04
	  	Temporary Securities	  	 	18	 
	 Section 3.05
	  	Registration, Registration of Transfer and Exchange	  	 	19	 
	 Section 3.06
	  	Mutilated, Destroyed, Lost and Stolen Securities	  	 	20	 
	 Section 3.07
	  	Payment of Interest; Interest Rights Preserved	  	 	20	 
	 Section 3.08
	  	Persons Deemed Owners	  	 	21	 
	 Section 3.09
	  	Cancellation	  	 	22	 
	 Section 3.10
	  	Computation of Interest	  	 	22	 
	 Section 3.11
	  	CUSIP Numbers	  	 	22	 
		
	 ARTICLE IV SATISFACTION AND DISCHARGE
	  	 	22	 
			
	 Section 4.01
	  	Satisfaction and Discharge of Indenture	  	 	22	 
	 Section 4.02
	  	Application of Trust Money	  	 	23	 
		
	 ARTICLE V REMEDIES
	  	 	23	 
			
	 Section 5.01
	  	Events of Default	  	 	23	 
	 Section 5.02
	  	Acceleration of Maturity; Rescission and Annulment	  	 	24	 
	 Section 5.03
	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	25	 
	 Section 5.04
	  	Trustee May File Proofs of Claim	  	 	26	 
	 Section 5.05
	  	Trustee May Enforce Claims Without Possession of Securities	  	 	26	 

  
 i 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

							
	 Section 5.06
	  	Application of Money Collected	  	 	26	 
	 Section 5.07
	  	Limitation on Suits	  	 	27	 
	 Section 5.08
	  	Unconditional Right of Holders to Receive Principal, Premium and Interest	  	 	27	 
	 Section 5.09
	  	Restoration of Rights and Remedies	  	 	27	 
	 Section 5.10
	  	Rights and Remedies Cumulative	  	 	27	 
	 Section 5.11
	  	Delay or Omission Not Waiver	  	 	28	 
	 Section 5.12
	  	Control by Holders	  	 	28	 
	 Section 5.13
	  	Waiver of Past Defaults	  	 	28	 
	 Section 5.14
	  	Undertaking for Costs	  	 	28	 
	 Section 5.15
	  	Waiver of Usury, Stay or Extension Laws	  	 	29	 
		
	 ARTICLE VI THE TRUSTEE
	  	 	29	 
			
	 Section 6.01
	  	Duties of Trustee	  	 	29	 
	 Section 6.02
	  	Rights of Trustee	  	 	30	 
	 Section 6.03
	  	Individual Rights of Trustee	  	 	31	 
	 Section 6.04
	  	Trustee’s Disclaimer	  	 	31	 
	 Section 6.05
	  	Notice of Default	  	 	31	 
	 Section 6.06
	  	Reports by Trustee to Holders	  	 	32	 
	 Section 6.07
	  	Compensation and Indemnity	  	 	32	 
	 Section 6.08
	  	Replacement of Trustee	  	 	33	 
	 Section 6.09
	  	Successor Trustee by Merger, Etc.	  	 	33	 
	 Section 6.10
	  	Eligibility; Disqualification	  	 	34	 
	 Section 6.11
	  	Preferential Collection of Claims against Company	  	 	34	 
		
	 ARTICLE VII HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	 	34	 
			
	 Section 7.01
	  	Company to Furnish Trustee Names and Addresses of Holders	  	 	34	 
	 Section 7.02
	  	Preservation of Information; Communications to Holders	  	 	34	 
	 Section 7.03
	  	Reports by Trustee	  	 	35	 
	 Section 7.04
	  	Reports by Company	  	 	35	 
		
	 ARTICLE VIII CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	  	 	35	 
			
	 Section 8.01
	  	When Company May Merge, Etc.	  	 	35	 
	 Section 8.02
	  	Successor Corporation Substituted	  	 	36	 
		
	 ARTICLE IX SUPPLEMENTAL INDENTURES
	  	 	36	 
			
	 Section 9.01
	  	Supplemental Indentures Without Consent of Holders	  	 	36	 
	 Section 9.02
	  	Supplemental Indentures with Consent of Holders	  	 	37	 
	 Section 9.03
	  	Execution of Supplemental Indentures	  	 	38	 
	 Section 9.04
	  	Effect of Supplemental Indentures	  	 	38	 
	 Section 9.05
	  	Conformity with Trust Indenture Act	  	 	38	 
	 Section 9.06
	  	Reference in Securities to Supplemental Indentures	  	 	38	 
		
	 ARTICLE X COVENANTS
	  	 	38	 
			
	 Section 10.01
	  	Payment of Principal, Premium and Interest	  	 	38	 
	 Section 10.02
	  	Maintenance of Office or Agency	  	 	38	 
	 Section 10.03
	  	Money for Securities Payments to Be Held in Trust	  	 	39	 
	 Section 10.04
	  	Statement by Officers as to Default	  	 	40	 
	 Section 10.05
	  	Waiver of Certain Covenants	  	 	40	 

  
 ii 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

							
	 ARTICLE XI REDEMPTION OF SECURITIES
	  	 	40	 
			
	 Section 11.01
	  	Applicability of Article	  	 	40	 
	 Section 11.02
	  	Election to Redeem; Notice to Trustee	  	 	40	 
	 Section 11.03
	  	Selection by Trustee of Securities to Be Redeemed	  	 	40	 
	 Section 11.04
	  	Notice of Redemption	  	 	41	 
	 Section 11.05
	  	Deposit of Redemption Price	  	 	41	 
	 Section 11.06
	  	Securities Payable on Redemption Date	  	 	42	 
	 Section 11.07
	  	Securities Redeemed in Part	  	 	42	 
		
	 ARTICLE XII SINKING FUNDS
	  	 	42	 
			
	 Section 12.01
	  	Applicability of Article	  	 	42	 
	 Section 12.02
	  	Satisfaction of Sinking Fund Payments with Securities	  	 	43	 
	 Section 12.03
	  	Redemption of Securities for Sinking Fund	  	 	43	 
		
	 ARTICLE XIII [RESERVED]
	  	 	43	 
		
	 ARTICLE XIV DEFEASANCE AND COVENANT DEFEASANCE
	  	 	43	 
			
	 Section 14.01
	  	Company’s Option to Effect Defeasance or Covenant Defeasance	  	 	43	 
	 Section 14.02
	  	Defeasance and Discharge	  	 	43	 
	 Section 14.03
	  	Covenant Defeasance	  	 	44	 
	 Section 14.04
	  	Conditions to Defeasance or Covenant Defeasance	  	 	44	 
	 Section 14.05
	  	Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous Provisions	  	 	45	 
	 Section 14.06
	  	Reinstatement	  	 	46	 
		
	 ARTICLE XV MISCELLANEOUS
	  	 	46	 
			
	 Section 15.01
	  	Patriot Act	  	 	46	 
	 Section 15.02
	  	WAIVER OF JURY TRIAL	  	 	46	 
	 Section 15.03
	  	No Recourse Against Others	  	 	46	 

  
 iii 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 INDENTURE, dated as of July 1, 2019, between Change Healthcare Inc., a Delaware
corporation (herein called the “Company”), having its principal office at 3055 Lebanon Pike, Suite 1000, Nashville, Tennessee, and U.S. Bank N.A., as Trustee (herein called the “Trustee”). 

RECITALS OF THE COMPANY 
 The
Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured debentures, notes or other evidences of indebtedness (herein called the “Securities”), to be
issued in one or more series as in this Indenture provided. All things necessary to make this Indenture a valid and legally binding agreement of the Company, in accordance with its terms, have been done. 

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and
proportionate benefit of all Holders of the Securities or of series thereof, as follows: 
 ARTICLE I 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

Section 1.01   Definitions. 

For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 

(1)        the terms defined in this Article have the meanings assigned to them in this Article and
include the plural as well as the singular; 
 (2)        all other terms used herein which are
defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein; 

(3)        all accounting terms not otherwise defined herein have the meanings assigned to them in
accordance with generally accepted accounting principles, and, except as otherwise herein expressly provided, the term GAAP with respect to any computation required or permitted hereunder shall mean such accounting principles as are generally
accepted at the date of such computation; 
 (4)        the words “Article” and
“Section” refer to an Article and Section, respectively, of this Indenture; 

(5)        the words “herein” and “hereunder” and other words of
similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; and 

(6)        Certain terms used principally in Articles VI, X and XIV, are defined
in those Articles. “Act”, when used with respect to any Holder, has the meaning specified in Section 1.04. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 “Bankruptcy Law” means Title 11, U.S. Code or any similar Federal, state or
foreign law for the relief of debtors. 
 “Board of Directors” means either the board of directors of the Company or any
duly authorized committee of that board. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or
an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

“Business Day” means any day other than a Saturday, Sunday or any day on which banking institutions in New York, New York are
authorized or obligated by applicable law or executive order to close or be closed. 
 “Commission” means the Securities
and Exchange Commission, from time to time constituted, created under the Exchange Act or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture
Act, then the body performing such duties at such time. 
 “Company” has the meaning ascribed to it in the preamble hereof
and shall also refer to any successor obligor under the Indenture. 
 “Company Request” or “Company Order”
means a written request or order signed in the name of the Company by its Chairman of the Board, any Vice Chairman of the Board, its President or a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant
Secretary, and delivered to the Trustee. 
 “Corporate Trust Office” means the office of the Trustee in New York, New York
at which at any particular time its corporate trust business shall be principally administered, which office as of the date hereof is located at 100 Wall Street, Suite 600, New York, New York 10005, Attention: Global Corporate Trust. 

“Corporation” means a corporation, association, company, joint-stock company or business trust. 

“Covenant Defeasance” has the meaning specified in Section 14.03. 

“Defaulted Interest” has the meaning specified in Section 3.07. 

“Defeasance” has the meaning specified in Section 14.02. 

“Defeasible Series” has the meaning specified in Section 14.01. 

“Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global
Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 3.01. 

“Event of Default” has the meaning specified in Section 5.01. 

  
 2 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended
from time to time, and any statute successor thereto. 
 “GAAP” means generally accepted accounting principles in the
United States of America as in effect from time to time. 
 “Global Security” means a Security that evidences all or part
of the Securities of any series and is authenticated and delivered to, and registered in the name of, the Depositary for such Securities or a nominee thereof. 

“Holder” means a Person in whose name a Security is registered in the Security Register. 

“Indebtedness” means, with respect to any Person, any indebtedness of such Person, whether or not contingent, in respect of
borrowed money or evidenced by bonds, notes, debentures of similar instruments or letters of credit (or reimbursement agreements in respect thereof). 

“Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument, and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a
part of and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as contemplated by
Section 3.01. 
 “Interest”, when used with respect to an Original Issue Discount Security which
by its terms bears interest only after Maturity, means interest payable after Maturity. 
 “Interest Payment Date”, when
used with respect to any Security, means the date upon which an installment of interest on such Security becomes due and payable. 

“Maturity”, when used with respect to any Security, means the date on which the principal of such Security or an installment
of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

“Notice of Default” means a written notice of the kind specified in Section 5.01(4). 

“Obligations” means any principal, premium, interest, penalties, fees, indemnifications, reimbursements, damages and
other liabilities payable under the documentation governing and Indebtedness. 
 “Officer’s Certificate” means a
certificate signed by the Chairman of the Board, a Vice Chairman of the Board, the President or a Vice President, the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of the Company, and delivered to the Trustee. 

“Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company. 

“Original Issue Discount Security” means any Security which provides for an amount less than the principal amount
thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02. 

“Outstanding”, when used with respect to Securities, means, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture, except: 
 (1)        Securities theretofore
cancelled by the Trustee or delivered to the Trustee for cancellation; 

  
 3 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 (2)        Securities for whose payment or redemption
money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the
Holders of such Securities; provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; 

(3)        Securities as to which Defeasance has been effected pursuant to
Section 14.02; and 
 (4)        Securities which have been paid pursuant
to Section 3.06 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to
the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are valid obligations of the Company; provided, however, that in determining whether the Holders of the requisite principal
amount of the Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, (A) the principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding shall be
the amount of the principal thereof that would be due and payable as of the date of such determination upon acceleration of the Maturity thereof to such date pursuant to Section 5.02, (B) the principal amount of a Security
denominated in one or more foreign currencies or currency units shall be the U.S. dollar equivalent, determined in the manner provided as contemplated by Section 3.01 on the date of original issuance of such Security, of
the principal amount (or, in the case of an Original Issue Discount Security, the U.S. dollar equivalent on the date of original issuance of such Security of the amount determined as provided in Clause (A) above) of such Security, and
(C) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall
be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities so owned which
have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other
obligor upon the Securities or any Affiliate of the Company or of such other obligor. 
 “Paying Agent” means any Person
authorized by the Company to pay the principal of or any premium or interest on any Securities on behalf of the Company. 

“Person” means any individual, corporation, partnership, joint venture, limited liability company, joint stock company,
trust, unincorporated organization or government or any agency or political subdivision thereof or any other entity. 
 “Place of
Payment”, when used with respect to the Securities of any series, means the place or places where the principal of and any premium and interest on the Securities of that series are payable as specified as contemplated by
Section 3.01. 
 “Predecessor Security” of any particular Security means every previous Security
evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.06 in exchange for or in lieu of
a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 

  
 4 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 “Redemption Date”, when used with respect to any Security to be redeemed,
means the date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption Price”, when used with respect to
any Security to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture. 
 “Regular Record
Date” for the interest payable on any Interest Payment Date on the Securities of any series means the date specified for that purpose as contemplated by Section 3.01. 

“Responsible Officer”, when used with respect to the Trustee, means any vice president, any assistant treasurer, any trust
officer or assistant trust officer or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other
officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject and who, in each case, shall have direct responsibility for the administration of this Indenture. 

“Securities” has the meaning stated in the first recital of this Indenture and more particularly means any Securities
authenticated and delivered under this Indenture. 
 “Securities Act” means the Securities Act of 1933, as amended, and the
rules and regulations of the Securities and Exchange Commission promulgated thereunder. 
 “Security Register” and
“Security Registrar” have the respective meanings specified in Section 3.05. 
 “Special
Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.07. 

“Stated Maturity”, when used with respect to any Security or any installment of principal thereof or interest thereon, means
the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Subsidiary” means a corporation, partnership, joint venture, limited liability company, association or other business entity
of which more than 50% of the outstanding voting stock (or equivalent equity interest) is owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of
this definition, “voting stock” means stock which ordinarily has voting power for the election of directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 

“Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of which this instrument was executed;
provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended. 

“Trustee” means the party named in the preamble hereof until a successor replaces such party in accordance with the
applicable provisions of the Indenture and thereafter means the successor serving hereunder. 

  
 5 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 “U.S. Government Obligations” means direct obligations of, or obligations
guaranteed by, the United States of America, and the payment for which the United States pledges its full faith and credit. 
 “Vice
President”, when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title “vice president”. 

Section 1.02   Compliance Certificates and Opinions. 

Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall
furnish to the Trustee such certificates and opinions as may be required under the Trust Indenture Act. Each such certificate or opinion shall be given in the form of an Officer’s Certificate, if to be given by an officer of the Company, or an
Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include: 

(1)        a statement that each individual signing such certificate or opinion has read such covenant
or condition and the definitions herein relating thereto; 
 (2)        a brief statement as to the
nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

(3)        a statement that, in the opinion of each such individual, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(4)        a statement as to whether, in the opinion of each such individual, such condition or
covenant has been complied with. 
 Section 1.03   Form of Documents Delivered to Trustee. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that
all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other
such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any
certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know,
that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to factual matters, upon a
certificate or opinion of, or representations by, an officer or officers of the Company or any Subsidiary of the Company stating that the information with respect to such factual matters is in the possession of the Company or any Subsidiary of the
Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 

  
 6 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

Section 1.04   Acts of Holders; Record Dates. 

Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given,
made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are
herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this
Indenture and (subject to Section 6.01) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 

The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of
the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 
 The ownership of Securities
shall be proved by the Security Register. 
 Any request, demand, authorization, direction, notice, consent, waiver or other Act of the
Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered
to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
 The
Company may, in the circumstances permitted by the Trust Indenture Act, set any day as the record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to give or take any request, demand, authorization,
direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given or taken by Holders of Securities of such series. With regard to any record date set pursuant to this paragraph, the Holders of Outstanding
Securities of the relevant series on such record date (or their duly appointed agents), and only such Persons, shall be entitled to give or take the relevant action, whether or not such Holders remain Holders after such record date. With regard to
any action that may be given or taken hereunder only by Holders of a requisite principal amount of Outstanding Securities of any series (or their duly appointed agents) and for which a record date is set pursuant to this paragraph, the Company may,
at its option, set an expiration date after which no such action purported to be given or taken by any Holder shall be effective hereunder unless given or taken on or prior to such expiration date by Holders of the requisite principal amount of
Outstanding Securities of such series on such record date (or their duly appointed agents). On or prior to any expiration date set pursuant to this paragraph, the Company may, on one or more occasions at its option, extend such date to any later
date. Nothing in this paragraph shall prevent any Holder (or any duly appointed agent thereof) from giving or taking, after any such expiration date, any action identical to, or, at any time, contrary to or different from, the action or purported
action to which such expiration 

  
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date relates, in which event the Company may set a record date in respect thereof pursuant to this paragraph. Nothing in this paragraph shall be construed to render ineffective any action taken
at any time by the Holders (or their duly appointed agents) of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is so taken. Notwithstanding the foregoing or the Trust Indenture Act, the Company
shall not set a record date for, and the provisions of this paragraph shall not apply with respect to, any notice, declaration or direction referred to in the next paragraph. 

The Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to
join in the giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 5.02, if an Event of Default with respect to Securities of such series has occurred and is
continuing and the Trustee shall not have given such a declaration to the Company, (iii) any request to institute proceedings referred to in Section 5.07(2) or (iv) any direction referred to in
Section 5.12, in each case with respect to Securities of such series. Promptly after any record date is set pursuant to this paragraph, the Trustee shall notify the Company and the Holders of Outstanding Series of such
series of any such record date so fixed and the proposed action. The Holders of Outstanding Securities of such series on such record date (or their duly appointed agents), and only such Persons, shall be entitled to join in such notice, declaration
or direction, whether or not such Holders remain Holders after such record date; provided that, unless such notice, declaration or direction shall have become effective by virtue of Holders of the requisite principal amount of Outstanding Securities
of such series on such record date (or their duly appointed agents) having joined therein on or prior to the 90th day after such record date, such notice, declaration or direction shall automatically and without any action by any Person be cancelled
and of no further effect. Nothing in this paragraph shall be construed to prevent a Holder (or a duly appointed agent thereof) from giving, before or after the expiration of such 90-day period, a notice,
declaration or direction contrary to or different from, or, after the expiration of such period, identical to, the notice, declaration or direction to which such record date relates, in which event a new record date in respect thereof shall be set
pursuant to this paragraph. Nothing in this paragraph shall be construed to render ineffective any notice, declaration or direction of the type referred to in this paragraph given at any time to the Trustee and the Company by Holders (or their duly
appointed agents) of the requisite principal amount of Outstanding Securities of the relevant series on the date such notice, declaration or direction is so given. 

Without limiting the foregoing, a Holder entitled hereunder to give or take any action hereunder with regard to any particular Security may do
so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any different part of such principal amount. 

Section 1.05   Notices, Etc., to Trustee and Company. 

Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with, 
 (1)        the Trustee by any
Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing (which may be via facsimile) to or with the Trustee at its Corporate Trust Office, Attention: Corporate Trust Department, or 

(2)        the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder
(unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to it at the address of its principal office specified in the first paragraph of this instrument or at any other address
previously furnished in writing to the Trustee by the Company. 

  
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 Section 1.06   Notice to Holders; Waiver. 

Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly
provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at his address as it appears in the Security Register, or sent electronically in accordance with the Depositary’s procedures, in each case,
not later than the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any
notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such
notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver. 
 In case by reason of the suspension of regular mail service or by reason of any other cause it shall be
impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 

Section 1.07   Conflict with Trust Indenture Act. 

If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required under such Act to be a part
of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to
this Indenture as so modified or to be excluded, as the case may be. Wherever this Indenture refers to a provision of the Trust Indenture Act, such provision is incorporated by reference in and made a part of this Indenture. 

The following Trust Indenture Act terms used in this Indenture have the following meanings: 

“commission” means the United States Securities and Exchange Commission. 

“indenture securities” means the Securities. 

“indenture security holder” means a Holder. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligor on the indenture securities” means the Company and any other obligor on the Securities. 

All other Trust Indenture Act terms used in this Indenture that are defined by the Trust Indenture Act, defined by the Trust Indenture Act
referenced to another statute or defined by any Commission rule and not otherwise defined herein have the meanings defined to them thereby. 

Section 1.08   Effect of Headings and Table of Contents. 

The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

  
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 Section 1.09   Successors and Assigns. 

All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 

Section 1.10   Separability Clause. 

In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 1.11   Benefits of Indenture. 

Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto and their
successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 1.12   Governing Law. 

This Indenture and the Securities shall be governed by and construed in accordance with the law of the State of New York. 

Section 1.13   Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security shall not be a Business Day at any Place of
Payment, then (notwithstanding any other provision of this Indenture or of the Securities (other than a provision of the Securities of any series which specifically states that such provision shall apply in lieu of this Section)) payment of interest
or principal (and premium, if any) need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or
Redemption Date, or at the Stated Maturity, provided that no interest shall accrue for the intervening period. 
 ARTICLE II 

SECURITY FORMS 

Section 2.01   Forms Generally. 

The Securities of each series shall be in substantially the form set forth in this Article, or in such other form as shall be established by or
pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters,
numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such
Securities, as evidenced by their execution of the Securities. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary
or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 3.03 for the authentication and delivery of such Securities. 

  
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 The definitive Securities shall be printed, lithographed or engraved on steel engraved
borders or may be produced in any other manner, all as determined by the officers executing such Securities, as evidenced by their execution of such Securities. 

Section 2.02   Form of Face of Security. 

[Insert any legends required.] 

CHANGE HEALTHCARE INC. 
  

					
	 No.
	  	$	         	 

 Change Healthcare Inc., a Delaware corporation (herein called the “Company”, which term
includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to [            ], or registered assigns, the principal sum of
$[    ] on [if the Security is to bear interest prior to Maturity, insert —, and to pay interest thereon from or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually
on and in each year, commencing at the rate of [    ]% per annum, until the principal hereof is paid or made available for payment [if applicable, insert —, and at the rate of % per annum on any overdue principal and premium
and on any overdue installment of interest]. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the or (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not
so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close
of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at
any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said
Indenture]. 
 [If the Security is not to bear interest prior to Maturity, insert — The principal of this Security shall not bear
interest except in the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal of this Security shall bear interest at the rate of [    ]% per
annum, which shall accrue from the date of such default in payment to the date payment of such principal has been made or duly provided for. Interest on any overdue principal shall be payable on demand. Any such interest on any overdue principal
that is not so paid on demand shall bear interest at the rate of [    ]% per annum, which shall accrue from the date of such demand for payment to the date payment of such interest has been made or duly provided for, and such
interest shall also be payable on demand.] 
 Payment of the principal of (and premium, if any) and [if applicable, insert — any such]
interest on this Security will be made at the office or agency of the Company maintained for that purpose in [    ], in such coin or currency of the United States of America as at the time of payment is legal tender for payment
of public and private debts [if applicable, insert —; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the
Security Register]. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this place. 

  
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 Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated: 
  

			
	CHANGE HEALTHCARE INC.

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 Section 2.03   Form of Reverse of Security. 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of July 1, 2019 (herein called the “Indenture”), between the Company and U.S. Bank N.A., as Trustee (herein called the “Trustee”, which term includes any successor
trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the
Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof [if applicable insert —, limited in aggregate principal
amount to $[    ] ]. 
 [If applicable insert — The Securities are subject to redemption at the election of the
Holders thereof, in whole or in part, and in limited circumstances at the election of the Company, in whole, as described in the Indenture.]. [The Securities are not otherwise subject to redemption prior to maturity and no sinking fund is provided
for the Securities.]] 
 [If the Security is subject to redemption of any kind, insert — In the event of redemption of this Security in
part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.] 

[If applicable, insert — The Indenture contains provisions for defeasance at any time of (1) the entire indebtedness of this
Security or (2) certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture.] 

[If the Security is not an Original Issue Discount Security, insert — If an Event of Default with respect to Securities of this series
shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.] 

[If the Security is an Original Issue Discount Security, insert — If an Event of Default with respect to Securities of this series shall
occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Such amount shall be equal to [insert formula for determining the amount].
Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal and overdue interest all of the Company’s obligations in respect of the payment of the principal of and interest, if
any, on the Securities of this series shall terminate.] 

  
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 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority
in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time
Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by
the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Security. 
 As provided in and subject to the provisions of the Indenture, the Holder
of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee
written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the
Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at
the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted
by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registerable in the
Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by
a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like
tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Securities of this series are issuable only in registered form without coupons in denominations of [$1,000 and any integral multiple
thereof]. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized
denomination, as requested by the Holder surrendering the same. 

  
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 No service charge shall be made for any such registration of transfer or exchange, but the
Company or the Security Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

Section 2.04   Form of Legend for Global Securities. 

Unless otherwise specified as contemplated by Section 3.01 for the Securities evidenced thereby, every Global
Security authenticated and delivered hereunder shall bear a legend in substantially the following form: 
 This Security is a Global
Security within the meaning of the Indenture hereinafter referred to and is registered in the name of a Depositary or a nominee thereof. This Security may not be transferred to, or registered or exchanged for Securities registered in the name of,
any Person other than the Depositary or a nominee thereof and no such transfer may be registered, except in the limited circumstances described in the Indenture. Every Security authenticated and delivered upon registration of transfer of, or in
exchange for or in lieu of, this Security shall be a Global Security subject to the foregoing, except in such limited circumstances. 

Section 2.05   Form of Trustee’s Certificate of Authentication. 

The Trustee’s certificates of authentication shall be in substantially the following form: 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	U.S. BANK N.A., as Trustee
		
	By:	 	  

		 	Authorized Signatory
		
	Dated:	 	  

 ARTICLE III 

THE SECURITIES 

Section 3.01   Amount Unlimited; Issuable in Series. 

The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 

  
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 The Securities may be issued in one or more series. There shall be established in or pursuant
to a Board Resolution and, subject to Section 3.03, set forth, or determined in the manner provided, in an Officer’s Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of
Securities of any series, 
 (1)        the title of the Securities of the series, including CUSIP
Numbers (which shall distinguish the Securities of the series from Securities of any other series); 

(2)        any limit upon the aggregate principal amount of the Securities of the series which may be
authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to
Section 3.04, 3.05, 3.06, 9.06 or 11.07 and except for any Securities which, pursuant to Section 3.03, are deemed never to have been authenticated and delivered
hereunder); 
 (3)        the Person to whom any interest on a Security of the series shall be
payable, if other than the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 

(4)        the date or dates on which the principal of the Securities of the series is payable; 

(5)        the rate or rates at which the Securities of the series shall bear interest, if any, the
date or dates from which such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date for any interest payable on any Interest Payment Date; 

(6)        the place or places where the principal of and any premium and interest on Securities of
the series shall be payable; 
 (7)        the period or periods within which, the price or prices
at which and the terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company; 

(8)        the obligation, if any, of the Company to redeem or purchase Securities of the series
pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the series shall be redeemed or
purchased, in whole or in part, pursuant to such obligation; 
 (9)        if other than
denominations of $1,000 and any integral multiple thereof, the denominations in which Securities of the series shall be issuable; 

(10)        the currency, currencies or currency units in which payment of the principal of and any
premium and interest on any Securities of the series shall be payable if other than the currency of the United States of America and the manner of determining the equivalent thereof in the currency of the United States of America for purposes of the
definition of “Outstanding” in Section 1.01; 
 (11)        if
the amount of payments of principal of or any premium or interest on any Securities of the series may be determined with reference to an index, the manner in which such amounts shall be determined; 

(12)        if the principal of or any premium or interest on any Securities of the series is to be
payable, at the election of the Company or a Holder thereof, in one or more currencies or currency units other than that or those in which the Securities are stated to be payable, the currency, currencies or

  
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currency units in which payment of the principal of and any premium and interest on Securities of such series as to which such election is made shall be payable, and the periods within which and
the terms and conditions upon which such election is to be made; 
 (13)        if other than the
principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.02; 

(14)        if applicable, that the Securities of the series shall be subject to either or both of
Defeasance or Covenant Defeasance as provided in Article XIV or any changes in the provisions relating thereto; 

(15)        if and as applicable, that the Securities of the series shall be issuable in whole or in
part in the form of one or more Global Securities and, in such case, the Depositary or Depositaries for such Global Security or Global Securities and any circumstances other than those set forth in Section 3.05 in which any
such Global Security may be transferred to, and registered and exchanged for Securities registered in the name of, a Person other than the Depositary for such Global Security or a nominee thereof and in which any such transfer may be registered;

 (16)        any additions or deletions to or changes in the covenants contemplated by Article
X which applies to Securities of the series; 
 (17)        additions or deletions to or changes
in the provisions relating to the modification of the Indenture both with and without the consent of holders of Securities of the series; 

(18)        the form and terms of any guarantee of any Securities of the series and the provisions, if
any, relating to any securities provided for the Securities of the series; 
 (19)        if
applicable, that the Securities of the series shall be subject to satisfaction and discharge as provided in Article IV or any changes in the provisions relating thereto; 

(20)        any addition to or change in the Events of Default which applies to any Securities of the
series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable; and 

(21)        any other terms of the series (which terms may modify, supplement or delete any provision
of the Indenture with respect to such series; provided, however, that no such term may modify or delete any provision thereof if imposed by the Trust Indenture Act; provided, further, that any modification or deletion of the rights, duties or
immunities of the Trustee hereunder shall have been consented to in writing by the Trustee). 
 All Securities of any one series shall be
substantially identical except as to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Section 3.03) set forth, or determined in the manner
provided, in the Officer’s Certificate referred to above or in any such indenture supplemental hereto. 
 If any of the terms of the
series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the
delivery of the Officer’s Certificate setting forth the terms of the series. 

  
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 The Company may, from time to time, by adoption of a Board Resolution and subject to
compliance with any other applicable provisions of this Indenture, without the consent of the Holders, create and issue pursuant to this Indenture additional securities of any series of Securities (“Add On Securities”) having terms
and conditions identical to those of such series of Outstanding Securities, except that such Add On Securities: 

(i)       may have a different issue date from such series of Outstanding Securities; 

(ii)      may have a different amount of interest payable on the first Interest Payment Date
after issuance than is payable on such series of Outstanding Securities; and 
 (iii)     may have
terms specified in such Board Resolution for such Add On Securities making appropriate adjustments to this Article III applicable to such Add On Securities in order to conform to and ensure compliance with the Securities Act (or applicable
securities laws) which are not adverse in any material respect to the Holder of any Outstanding Securities (other than such Add On Securities) and which shall not affect the rights or duties of the Trustee. 

Section 3.02   Denominations. 

The Securities of each series shall be issuable only in registered form without coupons in such denominations as shall be specified as
contemplated by Section 3.01. In the absence of any such specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $1,000 and any integral
multiple thereof. 
 Section 3.03   Execution, Authentication, Delivery and Dating. 

The Securities shall be executed on behalf of the Company by its Chairman of the Board, its Vice Chairman of the Board, its President, its
Chief Financial Officer, one of its Vice Presidents, its Treasurer, its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Securities may be manual or facsimile. 

Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the
Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series
executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities. If
the form or terms of the Securities of the series have been established in or pursuant to one or more Board Resolutions as permitted by Sections 2.01 and 3.01, in authenticating such Securities, and accepting the additional
responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to Section 6.01) shall be fully protected in relying upon, an Opinion of Counsel stating, 

(1)        if the form of such Securities has been established by or pursuant to Board Resolution as
permitted by Section 2.01, that such form has been established in conformity with the provisions of this Indenture; 

  
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 (2)        if the terms of such Securities have been
established by or pursuant to Board Resolution as permitted by Section 3.01, that such terms have been established in conformity with the provisions of this Indenture; and 

(3)        that such Securities, when authenticated and delivered by the Trustee and issued by the
Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. 

If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the issue of such
Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee. 

Notwithstanding the provisions of Section 3.01 and of the preceding paragraph, if all Securities of a series are not
to be originally issued at one time, it shall not be necessary to deliver the Officer’s Certificate otherwise required pursuant to Section 3.01 or the Company Order and Opinion of Counsel otherwise required pursuant to
such preceding paragraph at or prior to the time of authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued. 

Each Security shall be dated the date of its authentication. 

No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such
Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has
been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the
Trustee for cancellation as provided in Section 3.09, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of
this Indenture. 
 Section 3.04   Temporary Securities. 

Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate
and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with
such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as evidenced by their execution of such Securities. 

If temporary Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without
unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at
the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of a like aggregate principal amount and tenor. Until so exchanged the temporary Securities of any series shall
in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series and tenor. 

  
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 Section 3.05   Registration, Registration of Transfer and
Exchange. 
 The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such
office and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe,
the Company shall provide for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as herein
provided. 
 Upon surrender for registration of transfer of any Security of any series at the office or agency in a Place of Payment for
that series, the Company shall execute (or through book-entry transfer in the case of Global Securities), and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same
series, of any authorized denominations and of a like aggregate principal amount and tenor. 
 At the option of the Holder, Securities of
any series may be exchanged for other Securities of the same series, of any authorized denominations and of a like aggregate principal amount and tenor, upon surrender of the Securities to be exchanged at such office or agency. Whenever any
Securities are so surrendered for exchange, the Company shall execute (or through book-entry transfer in the case of Global Securities), and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled
to receive. 
 All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the
Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 

Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee) be
duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange of Securities, but the Company or Security Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 3.04,
9.06 or 11.07 not involving any transfer. 
 The Company shall not be required (1) to issue, register the transfer of or
exchange Securities of any series during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of Securities of that series selected for redemption under Section 11.03
and ending at the close of business on the day of such mailing, or (2) to register the transfer of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part.

 Notwithstanding any other provision in this Indenture, no Global Security may be transferred to, or registered or exchanged for
Securities registered in the name of, any Person other than the Depositary for such Global Security or any nominee thereof, and no such transfer may be registered, unless (1) such Depositary (A) notifies the Company that it is unwilling or
unable to continue as Depositary for such Global Security or (B) has ceased to be a clearing agency registered under the Exchange Act, (2) the 

  
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Company executes and delivers to the Trustee a Company Order that such Global Security shall be so transferable, registrable and exchangeable, and such transfers shall be registrable,
(3) there shall have occurred and be continuing an Event of Default with respect to the Securities evidenced by such Global Security or (4) there shall exist such other circumstances, if any, as have been specified for this purpose as
contemplated by Section 3.01. Notwithstanding any other provision in this Indenture, a Global Security to which the restriction set forth in the preceding sentence shall have ceased to apply may be transferred only to, and
may be registered and exchanged for Securities registered only in the name or names of, such Person or Persons as the Depositary for such Global Security shall have directed and no transfer thereof other than such a transfer may be registered. 

Every Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Security to which the
restriction set forth in the first sentence of the preceding paragraph shall apply, whether pursuant to this Section, Section 3.04, 3.06, 9.06 or 11.07 or otherwise, shall be authenticated and delivered
in the form of, and shall be, a Global Security. 
 Section 3.06   Mutilated, Destroyed, Lost and Stolen
Securities. 
 If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and
deliver in exchange therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 

If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any
Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona
fide purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same series and of like tenor and principal amount and bearing a number not
contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and
payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new Security
under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of counsel to the Company and
the fees and expenses of the Trustee and its counsel) connected therewith. 
 Every new Security issued under this Section shall constitute
an original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Securities of that series duly issued hereunder. 
 The provisions of this Section are exclusive and
shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

Section 3.07   Payment of Interest; Interest Rights Preserved. 

Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on
any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest. 

  
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 Any interest on any Security of any series which is payable, but is not punctually paid or
duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted
Interest may be paid by the Company, at its election in each case, as provided in Clause (1) or (2) below: 

(1)        The Company may elect to make payment of any Defaulted Interest to the Persons in whose
names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company
shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money
equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust
for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10
days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the
expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in
the Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the
Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (2). 

(2)        The Company may make payment of any Defaulted Interest on the Securities of any series in
any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the
proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing
provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by
such other Security. 
 Section 3.08   Persons Deemed Owners. 

Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may
treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and any premium and (subject to Section 3.07) any interest on such Security and
for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

  
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 Section 3.09   Cancellation. 

All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall,
if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered
hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not
issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by
this Indenture. All cancelled Securities held by the Trustee shall be disposed of by the Trustee in its customary manner. 

Section 3.10   Computation of Interest. 

Except as otherwise specified as contemplated by Section 3.01 for Securities of any series, interest on the
Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months. 

Section 3.11   CUSIP Numbers. 

The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use
“CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any
notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify
the Trustee of any changes in the “CUSIP” numbers. 
 ARTICLE IV 

SATISFACTION AND DISCHARGE 

Section 4.01   Satisfaction and Discharge of Indenture. 

This Indenture, with respect to the Securities of any series (if all series issued under this Indenture are not to be affected), shall, upon
Company Request, cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of such Securities herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture as to such series, when 

(1)        either 

(A)        all Securities of such series theretofore authenticated and delivered (other
than (i) Securities of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.06 and (ii) Securities of such series for whose payment money has
theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 10.03) have been delivered to the Trustee for cancellation; or 

(B)        all Securities of such series not theretofore delivered to the Trustee for
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 (i)         have become due and
payable, or 
 (ii)       will become due and payable at their Stated Maturity within one
year, or 
 (iii)      are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the
Trustee as trust funds in trust for the purpose an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and any premium and interest to the date of
such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 

(2)        the Company has paid or caused to be paid all other sums payable hereunder by the Company;
and 
 (3)        the Company has delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to such series have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of Securities, the obligations of the Company to
the Trustee with respect to the Securities of such series under Section 6.07, and, if money shall have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of this Section, the obligations of
the Trustee with respect to the Securities of such series under Section 4.02 and the last paragraph of Section 10.03 shall survive such satisfaction and discharge. 

Section 4.02   Application of Trust Money. 

Subject to the provisions of the last paragraph of Section 10.03, all money deposited with the Trustee pursuant to
Section 4.01 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its
own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money has been deposited with the Trustee. 

ARTICLE V 

REMEDIES 

Section 5.01   Events of Default. 

“Event of Default”, wherever used herein or in a Security issued hereunder with respect to Securities of any series, means any
one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation
of any administrative or governmental body): 
 (1)        default in the payment of any interest
upon any Security of that series when it becomes due and payable, and continuance of such default for a period of 30 days; or 

  
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 (2)        default in the payment of the principal of
(or premium, if any, on) any Security of that series when due; or 
 (3)        default in the
deposit of any sinking fund payment, when and as due by the terms of a Security of that series, and continuance of such default for a period of 30 days; or 

(4)        default in the performance, or breach, of any covenant or warranty of the Company in this
Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the benefit of series of Securities
other than that series), and continuance of such default or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in
principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 

(5)        the entry by a court having jurisdiction in the premises of (A) a decree or order for
relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order adjudging the Company a bankrupt or insolvent, or
approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law, or appointing a custodian, receiver, liquidator, assignee, trustee,
sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any such other decree or order
unstayed and in effect for a period of 60 consecutive days; or 
 (6)        the commencement by the
Company of a voluntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the
entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or
insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable Federal or State law, or the consent by it to the filing of such petition or to the appointment of
or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the
admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Company in furtherance of any such action; or 

(7)        any other Event of Default provided with respect to Securities of that series. 

Section 5.02   Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the
Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the
principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any
such declaration such principal amount (or specified amount) shall become immediately due and payable. 

  
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 At any time after such a declaration of acceleration with respect to Securities of any series
has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by
written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if 

(1)        the Company has paid or deposited with the Trustee a sum sufficient to pay 

(A)        all overdue interest on all Securities of that series, 

(B)        the principal of (and premium, if any, on) any Securities of that series
which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities, 

(C)        to the extent that payment of such interest is lawful, interest upon overdue
interest at the rate or rates prescribed therefor in such Securities, and 

(D)        all sums paid or advanced by the Trustee hereunder and the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and 

(2)        all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. 

No such rescission shall affect any subsequent default or impair any right consequent thereon. 

Section 5.03   Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if: 

(1)        default is made in the payment of any interest on any Security when such interest becomes
due and payable and such default continues for a period of 30 days, or 
 (2)        default is made
in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on
such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed
therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel. 
 If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion
proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem necessary to protect and enforce any such rights, whether for the specific
enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

  
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 Section 5.04   Trustee May File Proofs of Claim. 

In case of any judicial proceeding relative to the Company (or any other obligor upon the Securities), its property or its creditors, the
Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such proceeding. In
particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee
any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.07. 

No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding; provided, however, that
the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 

Section 5.05   Trustee May Enforce Claims Without Possession of Securities. 

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of
any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered.

 Section 5.06   Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 

FIRST: To the payment of all amounts due the Trustee under Section 6.07; 

SECOND: To the payment of the amounts then due and unpaid for principal of and any premium and interest on the Securities in respect of which
or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and any premium and interest, respectively; and 

THIRD: To the Company. 

  
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 Section 5.07   Limitation on Suits. 

No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 

(1)        such Holder has previously given written notice to the Trustee of a continuing Event of
Default with respect to the Securities of that series; 
 (2)        the Holders of not less than
25% in principal amount of the Outstanding Securities of that series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

(3)        such Holder or Holders have offered to the Trustee reasonable indemnity satisfactory to it
against the costs, expenses and liabilities to be incurred in compliance with such request; 

(4)        the Trustee for 60 days after its receipt of such notice, request and offer of indemnity
has failed to institute any such proceeding; and 
 (5)        no direction inconsistent with such
written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series; it being understood and intended that no
one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain
priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 

Section 5.08   Unconditional Right of Holders to Receive Principal, Premium and Interest. 

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of and any premium and (subject to Section 3.07) interest on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption
Date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 

Section 5.09   Restoration of Rights and Remedies. 

If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

Section 5.10   Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 3.06, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other appropriate right or remedy. 

  
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 Section 5.11   Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall
impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often
as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 5.12   Control by
Holders. 
 The Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the
time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series, provided that 

(1)        such direction shall not be in conflict with any rule of law or with this Indenture, 

(2)        the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction, and 
 (3)        subject to the provisions of
Section 6.01, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or Officers of the Trustee, determine, that the proceedings so directed
would involve the Trustee in personal liability. 
 Section 5.13   Waiver of Past Defaults. 

The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the
Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default 

(1)        in the payment of the principal of or any premium or interest on any Security of such
series, or 
 (2)        in respect of a covenant or provision hereof which under Article IX
cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected. 
 Upon any such
waiver, such default shall cease to exist and be deemed to not have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not have occurred, for every purpose of this Indenture; but no such waiver shall extend
to any subsequent or other default or impair any right consequent thereon. 
 Section 5.14   Undertaking for
Costs. 
 In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action
taken, suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs against any such party litigant, in the manner and to the extent provided in
the Trust Indenture Act; provided that 

  
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neither this Section nor the Trust Indenture Act shall apply to any suit instituted by the Trustee, to any suit instituted by any Holders of the Securities, or group of Holders of the Securities,
holding in the aggregate more than 10% of principal amount of the Outstanding Securities of any series, or to any suit instituted by any Holder of the Outstanding Securities for the enforcement of the payment of principal of or interest on any
Outstanding Securities held by such Holder, on or after the respective due dates expressed in such Outstanding Securities, and provided, further, that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require
such an undertaking or to make such an assessment in any suit instituted by the Company. 
 Section 5.15   Waiver of
Usury, Stay or Extension Laws. 
 The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist
upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and
the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer
and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE VI 

THE TRUSTEE 
 The Trustee
hereby accepts the trust imposed upon it by this Indenture and covenants and agrees to perform the same, as herein expressed. 

Section 6.01   Duties of Trustee. 

(a)        If an Event of Default has occurred and is continuing, the Trustee shall exercise such of
the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of his own affairs. 

(b)        Except during the continuance of an Event of Default: 

(1)        The Trustee need perform only those duties as are specifically set forth in this Indenture
and no others, and no covenants or obligations shall be implied in or read into this Indenture. 

(2)        In the absence of bad faith on its part, the Trustee may conclusively rely, as to the
truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of any such certificates or opinions
which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they substantially conform to the requirements of this Indenture (but need not
confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 

  
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 (c)        The Trustee may not be relieved from
liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 

(1)        This paragraph does not limit the effect of paragraph (b) of this
Section 6.01. 
 (2)        The Trustee shall not be liable for any error
of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts. 

(3)        The Trustee shall not be liable with respect to any action it takes or omits to take in
good faith in accordance with a direction received by it pursuant to Section 5.12. 

(d)        No provision of this Indenture shall require the Trustee to expend or risk its own funds or
otherwise incur any financial liability in the performance of any of its duties hereunder or to take or omit to take any action under this Indenture. 

(e)        Every provision of this Indenture that in any way relates to the Trustee is subject to
paragraphs (a), (b), (c), (d) and (f) of this Section 6.01. 

(f)        The Trustee shall not be liable for interest on any assets received by it except as the
Trustee may agree in writing with the Company. Assets held in trust by the Trustee need not be segregated from other assets except to the extent required by law. 

Section 6.02   Rights of Trustee. 

Subject to Section 6.01: 

(a)        The Trustee may conclusively rely on any document (whether in its original or facsimile
form) believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in any document. 

(b)        Before the Trustee acts or refrains from acting, it may require an Officer’s
Certificate or an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such certificate or opinion. 

(c)        The Trustee may act through its attorneys and agents and shall not be responsible for the
misconduct or negligence of any agent appointed with due care. 
 (d)        The Trustee shall not
be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers. 

(e)        The Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, notice, request, direction, consent, order, bond, debenture, or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such
facts or matters as it may see fit and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost
of the Company and shall incur no liability or additional liability of any kind by reason of such investigation. 

(f)        The Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request, order or direction of any of the Holders, pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses
and liabilities which may be incurred therein or thereby. 

  
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 (g)        The Trustee may consult with counsel of
its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection of any action taken, suffered or omitted by in hereunder in good faith and in reliance thereon. 

(h)        The Trustee shall not be deemed to have notice of, or have actual knowledge of, any Event
of Default unless a Responsible Officer of the Trustee has received written notice of any event which is in fact such a default at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture. 

(i)        The rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 

(j)        In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations under this Indenture arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including without limitation strikes, work stoppages, accidents, acts of war or terrorism, civil or
military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software or hardware) services. 

(k)        The Trustee shall not be liable for any indirect, punitive, special or consequential losses
or damages (including but not limited to lost profits) whatsoever, even if it has been informed of the likelihood thereof and regardless of the form of action. 

Section 6.03   Individual Rights of Trustee. 

The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company, its
Subsidiaries, or their respective Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent or Security Registrar may do the same with like rights. However, the Trustee must comply with Sections 6.08, 6.09
and 6.10. 
 Section 6.04   Trustee’s Disclaimer. 

The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities and it shall not be accountable for the
Company’s use of the proceeds from the Securities, and it shall not be responsible for any statement in the Securities, other than the Trustee’s certificate of authentication, or the use or application of any funds received by a Paying
Agent other than the Trustee. 
 Section 6.05   Notice of Default. 

If an Event of Default with respect to Securities of any series occurs and is continuing and if it is known to the Trustee, the Trustee shall
mail to each Holder of Securities of such series notice of the uncured Event of Default within 90 days after such Event of Default occurs. Except in the case of an Event of Default in payment of principal (or premium, if any) of, or interest on, any
Security, the Trustee may withhold the notice if and so long as a Responsible Officer in good faith determines that withholding the notice is in the interest of the Holders of Securities of such series. 

  
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 Section 6.06   Reports by Trustee to Holders. 

Within 60 days after each February 15 beginning with the February 15 following the date of this Indenture, the Trustee shall mail to
each Holder a brief report dated as of such February 15 that complies with Trust Indenture Act Section 313(a) if such report is required by such Trust Indenture Act Section 313(a). The Trustee also shall comply with Trust Indenture
Act Sections 313(b) and 313(c). 
 The Company shall promptly notify the Trustee in writing if the Securities of any series become listed on
any stock exchange or automatic quotation system. 
 A copy of each report at the time of its mailing to Holders shall be mailed to the
Company and filed with the Commission and each stock exchange, if any, on which the Securities are listed. 

Section 6.07   Compensation and Indemnity. 

The Company shall pay to the Trustee from time to time such compensation for its services as the Company and the Trustee shall from time to
time agree in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable disbursements, expenses and advances
incurred or made by it. Such expenses shall include the reasonable compensation, disbursements and expenses of the Trustee’s agents, accountants, experts and counsel. 

The Company shall indemnify each of the Trustee (in its capacity as Trustee) and any predecessor Trustee and each of their respective
officers, directors, attorneys-in-fact and agents for, and hold it harmless against, any claim, demand, expense (including but not limited to reasonable compensation,
disbursements and expenses of the Trustee’s agents and counsel), loss, charges (including taxes (other than taxes based upon the income of the Trustee)) or liability incurred by them without negligence or bad faith on its part, arising out of
or in connection with the acceptance or administration of this trust and their rights or duties hereunder including the reasonable costs and expenses of defending themselves against any claim or liability in connection with the exercise or
performance of any of its powers or duties hereunder. The Trustee shall notify the Company promptly of any claim asserted against the Trustee for which it may seek indemnity. At the request of the Trustee, the Company shall defend the claim and the
Trustee shall provide reasonable cooperation at the Company’s expense in the defense. The Trustee may have separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement
made without its written consent which consent shall not be unreasonably withheld. The Company need not reimburse any expense or indemnify against any loss or liability to the extent incurred by the Trustee as determined by a final, non-appealable, judgment of a court of competent jurisdiction to have been caused by its own negligence, bad faith or willful misconduct. 

To secure the Company’s payment obligations in this Section 6.07, the Trustee shall have a lien prior to the
Securities on all assets held or collected by the Trustee, in its capacity as Trustee, except assets held in trust to pay principal and premium, if any, of or interest on particular Securities. 

When the Trustee incurs expenses or renders services after an Event of Default specified in Section 5.01(5)
or (6) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 

The Company’s obligations under this Section 6.07 and any lien arising hereunder shall survive the resignation
or removal of the Trustee, the discharge of the Company’s obligations pursuant to Article IV of this Indenture and any rejection or termination of this Indenture under any Bankruptcy Law. 

  
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 Section 6.08   Replacement of Trustee. 

The Trustee may resign at any time with respect to the Securities of one or more series by so notifying the Company in writing. The Holder or
Holders of a majority in principal amount of the outstanding Securities of a series may remove the Trustee with respect to Securities of such series by so notifying the Company and the Trustee in writing and may appoint a successor trustee with
respect to Securities of such series with the Company’s consent. The Company may remove the Trustee if: 

(1)        the Trustee fails to comply with Section 6.10; 

(2)        the Trustee is adjudged bankrupt or insolvent; 

(3)        a receiver, custodian, or other public officer takes charge of the Trustee or its property;
or 
 (4)        the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee, with respect to the Securities of one or more series,
for any reason, the Company shall promptly appoint a successor Trustee, with respect to Securities of that or those series. Within one year after the successor Trustee with respect to a series of Securities takes office, the Holder or Holders of a
majority in principal amount of the Securities of such series may appoint a successor Trustee with respect to such series to replace the successor Trustee appointed by the Company. 

A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately after that
and provided that all sums owing to the Trustee provided for in Section 6.07 have been paid, the retiring Trustee shall transfer all property held by it as Trustee with respect to such series of Securities to the successor
Trustee, subject to the lien provided in Section 6.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under
this Indenture. A successor Trustee with respect to one or more series of Securities shall mail notice of its succession to each Holder of Securities of that or those series. 

If a successor Trustee with respect to a series of Securities does not take office within 60 days after the retiring Trustee resigns or is
removed, the retiring Trustee, the Company or the Holder or Holders of at least 10% in principal amount of the outstanding Securities of that series may petition at the expense of the Company any court of competent jurisdiction for the appointment
of a successor Trustee with respect to such series. 
 If the Trustee fails to comply with Section 6.10, any
Holder of Securities of a series may petition any court of competent jurisdiction for the removal of the Trustee with respect to such series and the appointment of a successor Trustee with respect to such series. 

Notwithstanding replacement of the Trustee pursuant to this Section 6.08, the Company’s obligations under
Section 6.07 shall continue for the benefit of the retiring Trustee. 

Section 6.09   Successor Trustee by Merger, Etc. 

If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
corporation, the resulting, surviving or transferee corporation without any further act shall, if such resulting, surviving or transferee corporation is otherwise eligible hereunder, be the successor Trustee. 

  
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 Section 6.10   Eligibility; Disqualification. 

The Trustee shall at all times satisfy the requirements of Trust Indenture Act Section 310(a)(1) and Trust Indenture Act
Section 310(a)(5). The Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with Trust Indenture Act Section 310(b). 

Section 6.11   Preferential Collection of Claims against Company. 

The Trustee shall comply with Trust Indenture Act Section 311(a), excluding any creditor relationship listed in Trust
Indenture Act Section 311(b). A Trustee who has resigned or been removed shall be subject to Trust Indenture Act Section 311(a) to the extent indicated. 

ARTICLE VII 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 

Section 7.01   Company to Furnish Trustee Names and Addresses of Holders. 

If the Trustee is not the Security Registrar, the Company will furnish or cause to be furnished to the Trustee: 

(1)        semi-annually, not more than 15 days after each Regular Record Date, a list for each series
of Securities, in such form as the Trustee may reasonably require, of the names and addresses of the Holders of Securities of such series as of the Regular Record Date, as the case may be, and 

(2)        at such other times as the Trustee may request in writing, within 30 days after the receipt
by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; excluding from any such list names and addresses received by the Trustee in its capacity as Security
Registrar. 
 Section 7.02   Preservation of Information; Communications to Holders. 

The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent
list furnished to the Trustee as provided in Section 7.01 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in
Section 7.01 upon receipt of a new list so furnished. 
 The rights of the Holders to communicate with other
Holders with respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act. 

Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the
Trustee nor any agent of either of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act. 

  
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 Section 7.03   Reports by Trustee. 

The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to
the Trust Indenture Act at the times and in the manner provided pursuant thereto. 
 A copy of each such report shall, at the time of such
transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities are listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange or
delisted therefrom. 
 Section 7.04   Reports by Company. 

The Company shall comply with all of the applicable provisions of the Trust Indenture Act. Delivery of such reports, information and documents
to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s
compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 

ARTICLE VIII 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 

Section 8.01   When Company May Merge, Etc. 

The Company may not, in a single transaction or through a series of related transactions, consolidate with or merge with or into any other
person, or, directly or indirectly, sell, lease, assign, transfer or convey its properties and assets as an entirety or substantially as an entirety (computed on a consolidated basis) to another person or group of affiliated persons, and another
person or group of affiliated persons may not directly or indirectly sell, lease, assign, transfer or convey its properties and assets as an entity or substantially as an entity (computed on a consolidated basis) to the Company, unless: 

(1)        the Company shall be the continuing person, or the person (if other than the Company)
formed by such consolidation or into which the Company is merged or to which all or substantially all of the properties and assets of the Company are transferred as an entirety or substantially as an entirety (the Company or such other person being
hereinafter referred to as the “Surviving Person”), and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form and substance satisfactory to the Trustee, all the obligations of
the Company under the Securities and this Indenture and the Indenture, so supplemented, shall remain in full force and effect; 

(2)        immediately after giving effect to such transaction and the assumption of the obligations
as set forth in clause (1), above, no Event of Default shall have occurred and be continuing; and 

(3)        if a supplemental indenture is required in connection with such transaction, the Company
has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger, assignment, or transfer and such supplemental indenture comply with this Article VIII and that all conditions
precedent herein provided relating to such transaction have been satisfied. 

  
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 Section 8.02   Successor Corporation Substituted. 

Upon any consolidation or merger, or any transfer of assets in accordance with Section 8.01, the Surviving Person
formed by such consolidation or into which the Company is merged or to which such transfer is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such
Surviving Person had been named as the Company herein. When a Surviving Person duly assumes all of the obligations of the Company pursuant hereto and pursuant to the Securities, the predecessor shall be relieved of the performance and observance of
all obligations and covenants of this Indenture and the Securities, including but not limited to the obligation to make payment of the principal of and interest, if any, on all the Securities then outstanding, and the Company may thereupon or any
time thereafter be liquidated and dissolved. 
 ARTICLE IX 

SUPPLEMENTAL INDENTURES 

Section 9.01   Supplemental Indentures Without Consent of Holders. 

Without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may
enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 

(1)        to evidence the succession of another Person to the Company and the assumption by any such
successor of the covenants of the Company herein and in the Securities; or 
 (2)        to add to
the covenants of the Company for the, benefit of the Holders of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely
for the benefit of such series) or to surrender any right or power herein conferred upon the Company; or 

(3)        to add any additional Events of Default; or 

(4)        to add to or change any of the provisions of this Indenture to such extent as shall be
necessary to permit or facilitate the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in uncertificated form; or 

(5)        to add to, change or eliminate any of the provisions of this Indenture in respect of one or
more series of Securities, provided that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled to the benefit of such
provision nor (ii) modify the rights of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no such Security Outstanding; or 

(6)        to secure the Securities pursuant to the requirements of Article X or otherwise; or

 (7)        to establish the form or terms of Securities of any series as permitted by Sections
2.01 and 3.01; or 
 (8)        to evidence and provide for the acceptance of appointment
hereunder by a successor Trustee with respect to the Securities of one or more series; or 

  
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 (9)        to cure any ambiguity, to correct or
supplement any provision herein which may be defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided that such action pursuant to this
clause (9) shall not adversely affect the interests of the Holders of Securities of any series in any material respect. 

Section 9.02   Supplemental Indentures with Consent of Holders. 

With the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of each series affected by such
supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Indenture or modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Security affected thereby, 

(1)        change the Stated Maturity of the principal of, or any installment of principal of or
interest on, any Security, or reduce the principal amount thereof or the rate of interest or the time of payment of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue
Discount Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02, or change the coin or currency in which any Security or any premium or interest thereon is
payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or 

(2)        reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences)
provided for in this Indenture, or 
 (3)        modify any of the provisions of this Section or
Section 5.13 or Section 10.06, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of
each Outstanding Security affected thereby, 
 (4)        change any obligation of the Company to
pay additional amounts, or 
 (5)        adversely affect the right of repayment or repurchase at
the option of the Holder, or 
 (6)        reduce or postpone any sinking fund or similar provision.

 A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included
solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series. 
 It shall not be necessary for any Act of Holders under this Section to
approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

  
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 Section 9.03   Execution of Supplemental Indentures. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby
of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 6.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such
supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise. 
 Section 9.04   Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

Section 9.05   Conformity with Trust Indenture Act. 

Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act. 

Section 9.06   Reference in Securities to Supplemental Indentures. 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall
if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of
the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 

ARTICLE X 

COVENANTS. 

Section 10.01   Payment of Principal, Premium and Interest. 

The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and any
premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture. 

Section 10.02   Maintenance of Office or Agency. 

The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be
presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may
be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to
furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such
presentations, surrenders, notices and demands. 

  
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and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 The Company may also from time to time designate one or more other offices or agencies where
the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company
of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the
location of any such other office or agency. 
 Section 10.03   Money for Securities Payments to Be
Held in Trust. 
 If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will,
on or before each due date of the principal of or any premium or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and any premium and
interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 

Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, on or prior to each due date of the principal
of or any premium or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company
will promptly notify the Trustee of its action or failure so to act. 
 The Company will cause each Paying Agent for any series of
Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will (1) comply with the provisions
of the Trust Indenture Act applicable to it as a Paying Agent and (2) during the continuance of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment in respect of the Securities of
that series, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of that series. 

The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or
by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust hereunder by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or
such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or any
premium or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be
discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and
all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a
newspaper published in the English language, customarily published on each Business Day and of general circulation in the Borough of Manhattan, The City of New York, New York, notice that such money remains unclaimed and that, after a date specified
therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 

  
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 Section 10.04   Statement by Officers as to Default. 

The Company will deliver to the Trustee, on or before March 31 of each calendar year (beginning March 31, 2020) or on or before such
other day in each calendar year as the Company and the Trustee may from time to time agree upon, an Officer’s Certificate, stating whether or not to the best knowledge of the signers thereof the Company is in default in the performance and
observance of any of the terms, provisions and conditions of this Indenture. 
 Section 10.05   Waiver of Certain
Covenants. 
 Except as otherwise specified as contemplated by Section 3.01 for Securities of such series, the Company may, with
respect to the Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to Section 3.01(17) or 9.01(2) for the benefit of the Holders of such series if
before the time for such compliance the Holders of not less than a majority in principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance
with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the
duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 
 ARTICLE XI

 REDEMPTION OF SECURITIES 

Section 11.01   Applicability of Article. 

Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 3.01 for Securities of any series) in accordance with this Article. 

Section 11.02   Election to Redeem; Notice to Trustee. 

The election of the Company to redeem any Securities shall be evidenced by a Board Resolution. In case of any redemption at the election of the
Company of less than all the Securities of any series, the Company shall, at least 10 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date,
of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided
in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance with such restriction. 

Section 11.03   Selection by Trustee of Securities to Be Redeemed. 

If less than all the Securities of any series are to be redeemed (unless all of the Securities of such series and of a specified tenor are to
be redeemed), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series not previously called for redemption, by such method as the
Trustee shall deem fair and appropriate and which may provide for the selection for redemption of portions (equal to the 

  
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minimum authorized denomination for Securities of that series or any integral multiple authorized for Securities of that series) of the principal amount of Securities of such series of a
denomination larger than the minimum authorized denomination for Securities of that series. If less than all of the Securities of such series and of a specified tenor are to be redeemed, the particular Securities to be redeemed shall be selected not
more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series and specified tenor not previously called for redemption in accordance with the preceding sentence. 

The Trustee shall promptly notify the Company in writing of the Securities selected for redemption and, in the case of any Securities selected
for partial redemption, the principal amount thereof to be redeemed. 
 For all purposes of this Indenture, unless the context otherwise
requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed.

 Section 11.04   Notice of Redemption. 

Notice of redemption shall be given not less than 10 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be
redeemed, at his address appearing in the Security Register or delivered as required by the Depositary. 
 All notices of redemption shall
state: 
 (1)        the Redemption Date, 

(2)        the Redemption Price, 

(3)        if less than all the Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption of any Securities, the principal amounts) of the particular Securities to be redeemed, 

(4)        that on the Redemption Date the Redemption Price will become due and payable upon each such
Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date, 

(5)        the place or places where such Securities are to be surrendered for payment of the
Redemption Price, 
 (6)        that the redemption is for a sinking fund, if such is the case, and

 (7)        applicable CUSIP Numbers. 

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request, by the Trustee in the name and at the expense of the Company and shall be irrevocable. 

Section 11.05   Deposit of Redemption Price. 

Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying
Agent, the Company will segregate and hold in 

  
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trust as provided in Section 10.03) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date)
accrued interest on, all the Securities which are to be redeemed on that date. 
 Section 11.06   Securities Payable
on Redemption Date. 
 Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption
Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon
surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date; provided, however, that, unless otherwise
specified as contemplated by Section 3.01, installments of interest whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Record Dates according to their terms and the provisions of Section 3.07. 

If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and any premium shall, until
paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 

Section 11.07   Securities Redeemed in Part. 

Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so
requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee
shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized denomination as requested by such Holder, in aggregate principal amount equal
to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 
 ARTICLE XII 

SINKING FUNDS 

Section 12.01   Applicability of Article. 

The provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of a series except as otherwise
specified as contemplated by Section 3.01 for Securities of such series. 
 The minimum amount of any sinking fund
payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein
referred to as an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 12.02.
Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series. 

  
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 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Section 12.02   Satisfaction of Sinking Fund Payments with
Securities. 
 The Company (1) may deliver Outstanding Securities of a series (other than any previously called for redemption) and
(2) may apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the
terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by the terms of such
series; provided that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through operation of the
sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 
 Section 12.03   Redemption
of Securities for Sinking Fund. 
 Not less than 10 days prior to each sinking fund payment date for any series of Securities, the
Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment
of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities of that series pursuant to Section 12.02 and will also deliver to the Trustee any Securities to be so delivered. Not
less than 10 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 11.03 and cause notice of the
redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 11.04. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and
in the manner stated in Sections 11.06 and 11.07. 
 ARTICLE XIII 

[RESERVED] 

ARTICLE XIV 

DEFEASANCE AND COVENANT DEFEASANCE 

Section 14.01   Company’s Option to Effect Defeasance or Covenant Defeasance. 

The Company may elect, at its option by Board Resolution at any time, to have either Section 14.02 or
Section 14.03 applied to the Outstanding Securities of any series designated pursuant to Section 3.01 as being defeasible pursuant to this Article XIV (hereinafter called a
“Defeasible Series”), upon compliance with the conditions set forth below in this Article XIV. 

Section 14.02   Defeasance and Discharge. 

Upon the Company’s exercise of the option provided in Section 14.01 to have this
Section 14.02 applied to the Outstanding Securities of any Defeasible Series and subject to the proviso to Section 14.01, the Company shall be deemed to have been discharged from its obligations
with respect to the Outstanding Securities of such series as provided in this Section on and after the date the conditions set forth in Section 14.04 are satisfied (hereinafter called “Defeasance”). For
this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Securities of such series and to have satisfied all its other obligations under the Securities of
such series and this Indenture insofar as the Securities of such series are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), 

  
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 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 
subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of Securities of such series to receive, solely from the trust fund
described in Section 14.04 and as more fully set forth in such Section, payments in respect of the principal of and any premium and interest on such Securities of such series when payments are due, (2) the
Company’s obligations with respect to the Securities of such series under Sections 3.04, 3.05, 3.06, 10.02 and 10.03, (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and
(4) this Article XIV. Subject to compliance with this Article XIV, the Company may exercise its option provided in Section 14.01 to have this Section 14.02 applied to the
Outstanding Securities of any Defeasible Series notwithstanding the prior exercise of its option provided in Section 14.01 to have Section 14.03 applied to the Outstanding Securities of such
series. Following a Defeasance, payment of such Securities may not be accelerated because of an Event of Default. 

Section 14.03   Covenant Defeasance. 

Upon the Company’s exercise of the option provided in Section 14.01 to have this
Section 14.03 applied to the Outstanding Securities of any Defeasible Series, (1) the Company shall be released from its obligations under any covenants provided pursuant to Section 3.01(17)
or Section 9.01(2) with respect to any Securities or any series of Securities for the benefit of the Holders of such Securities, and Section 8.01, as applicable, and (2) the occurrence of any
event specified in Sections 5.01(3), 5.01(4) (with respect to Section 8.01, any such covenants provided pursuant to Section 3.01(17) or
Section 9.01(2)), 5.01(7) shall be deemed not to be or result in an Event of Default, in each case with respect to the Outstanding Securities of such series as provided in this Section on and after the date the
conditions set forth in Section 14.04 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities, the Company may omit
to comply with and shall have no liability in respect of any term, condition or limitation set forth in any covenants added for the benefit of the Securities of such series pursuant to any such specified Section (to the extent so specified in the
case of Section 5.01(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other
document, but the remainder of this Indenture and the Securities of such series shall be unaffected thereby. 

Section 14.04   Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to application of either Section 14.02 or
Section 14.03 to the Outstanding Securities of any Defeasible Series: 

(1)        The Company shall irrevocably have deposited or caused to be deposited with the Trustee as
trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of Outstanding Securities of such series, (A) money in an amount, or (B) U.S.
Government Obligations that through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or (C) a
combination thereof, in each case sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by
the Trustee (or any such other qualifying trustee) to pay and discharge, the principal of and any premium and interest on the Securities of such series on the respective Stated Maturities, in accordance with the terms of this Indenture and the
Securities of such series. 
 (2)        In the case of an election under
Section 14.02, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or
(B) since the date first set forth hereinabove, there 

  
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has been a change in the applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of the Outstanding
Securities of such series will not recognize gain or loss for Federal income tax purposes as a result of the deposit, Defeasance and discharge to be effected with respect to the Securities of such series and will be subject to Federal income tax on
the same amount, in the same manner and at the same times as would be the case if such deposit, Defeasance and discharge were not to occur. 

(3)        In the case of an election under Section 14.03, the Company shall
have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of the Outstanding Securities of such series will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be
effected with respect to the Securities of such series and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur. 

(4)        No Event of Default or event that (after notice or lapse of time or both) would become an
Event of Default shall have occurred and be continuing at the time of such deposit or, with regard to any Event of Default or any such event specified in Sections 5.01(5) and (6), at any time on or prior to the 90th day after
the date of such deposit (it being understood that this condition shall not be deemed satisfied until after such 90th day). 

(5)        Such Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting
interest within the meaning of the Trust Indenture Act (assuming all Securities are in default within the meaning of such Act). 

(6)        Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or
constitute a default under, any other material agreement or instrument to which the Company is a party or by which it is bound. 

(7)        The Company shall have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 

Section 14.05   Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous
Provisions. 
 Subject to Section 10.03, all money and U.S. Government Obligations (including the proceeds
thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 14.06, the Trustee and any such other trustee are referred to collectively as the “Trustee”)
pursuant to Section 14.04 in respect of the Securities of any Defeasible Series shall be held in trust and applied by the Trustee, in accordance with the provisions of the Securities of such series and this Indenture, to
the payment, either directly or through any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of Securities of such series, of all sums due and to become due thereon in respect of
principal and any premium and interest, but money so held in trust need not be segregated from other funds except to the extent required by law. 

The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government
Obligations deposited pursuant to Section 14.04 or the principal and interest received in respect thereof other than any such tax, fee or other charge that by law is for the account of the Holders of Outstanding Securities.

  
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 Anything in this Article XIV to the contrary notwithstanding, the Trustee shall
deliver or pay to the Company from time to time upon Company Request any money or U.S. Government Obligations held by it as provided in Section 14.04 with respect to Securities of any Defeasible Series that, in the opinion
of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof that would then be required to be deposited to effect an equivalent
Defeasance or Covenant Defeasance with respect to the Securities of such series. 

Section 14.06   Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article XIV with respect to the Securities of
any series by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Securities of such series shall
be revived and reinstated as though no deposit had occurred pursuant to this Article XIV with respect to Securities of such series until such time as the Trustee or Paying Agent is permitted to apply all money held in trust pursuant to
Section 14.05 with respect to Securities of such series in accordance with this Article XIV; provided, however, that if the Company makes any payment of principal of or any premium or interest on any Security of such
series following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of Securities of such series to receive such payment from the money so held in trust. 

ARTICLE XV 

MISCELLANEOUS 

Section 15.01   Patriot Act. 

The parties hereto acknowledge that in accordance with Section 326 of the U.S.A Patriot Act (the “Patriot Act”), the
Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or
opens an account with the Trustee. The parties to this Indenture agree that they shall provide the Trustee with such information as it they request in order for the Trustee to satisfy the requirements of the Patriot Act. 

Section 15.02   WAIVER OF JURY TRIAL. 

EACH OF THE COMPANY AND THE TRUSTEE, BY THEIR ACCEPTANCE OF THE SECURITIES, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING AS AMONG THE ISSUER AND/OR THE TRUSTEE ONLY ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE SECURITIES. 

Section 15.03   No Recourse Against Others. 

A director, officer, employee or stockholder as such of the Company shall not have any liability for any obligations of the Company under the
Securities or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Holder shall waive and release all such liability. The waiver and release shall be part of the
consideration for the issue of the Securities. 
 [Signature Page to Follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of
the day and year first above written. 
  

			
	CHANGE HEALTHCARE INC.
		
	By:	 	 /s/ Loretta A. Cecil

		 	Name: Loretta A. Cecil
		 	Title: Executive Vice President, General Counsel

  

			
	U.S. BANK N.A
		
	By:	 	 /s/ Beverly A. Freeney

		 	Name: Beverly A. Freeney
		 	Title: Vice President

 [Signature Page to Senior Indenture]EX-4.8

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Exhibit 4.8 

CHANGE HEALTHCARE INC., 

as Issuer, 
 AND 

U.S. BANK N.A., 
 as
Trustee 
 First Supplemental Indenture 

Dated as of July 1, 2019 
 to
Indenture 
 Dated as of July 1, 2019 

5.50% Senior Amortizing Notes due 2022 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

							
	 TABLE OF CONTENTS
	  

			
	 	  	 	  	Page	 
	 ARTICLE 1
	  

	
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  

			
	 Section 1.01.
	  	Scope of Supplemental Indenture; General	  	 	1	 
	 Section 1.02.
	  	Definitions	  	 	2	 
	
	 ARTICLE 2
	  

	
	 THE SECURITIES
	  

			
	 Section 2.01.
	  	Title and Terms	  	 	5	 
	 Section 2.02.
	  	Installment Payments	  	 	6	 
	 Section 2.03.
	  	Maturity Date	  	 	8	 
	 Section 2.04.
	  	Right to Exchange or Register a Transfer	  	 	8	 
	
	 ARTICLE 3
	  

	
	 SATISFACTION AND DISCHARGE
	  

			
	 Section 3.01.
	  	Amendments to Article IV of the Base Indenture	  	 	8	 
	
	 ARTICLE 4
	  

	
	 DEFAULTS AND REMEDIES
	  

			
	 Section 4.01.
	  	Amendments to Article V of the Base Indenture	  	 	9	 
	
	 ARTICLE 5
	  

	
	 THE TRUSTEE
	  

			
	 Section 5.01.
	  	Amendments to Article VI of the Base Indenture	  	 	15	 
	
	 ARTICLE 6
	  

	
	 SUCCESSOR CORPORATION
	  

			
	 Section 6.01.
	  	Amendments to Article VIII of the Base Indenture	  	 	16	 
	
	 ARTICLE 7
	  

	
	 AMENDMENTS, SUPPLEMENTS AND WAIVERS
	  

			
	 Section 7.01.
	  	Amendments to Article IX of the Base Indenture	  	 	17	 

  
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 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

							
	 ARTICLE 8
	  

	
	 COVENANTS
	  

			
	 Section 8.01.
	  	Amendments to Article X of the Base Indenture	  	 	18	 
	
	 ARTICLE 9
	  

	
	 NO REDEMPTION
	  

			
	 Section 9.01.
	  	Articles XI and XIII of the Base Indenture Inapplicable	  	 	19	 
	
	 ARTICLE 10
	  

	
	 DEFEASANCE AND COVENANT DEFEASANCE
	  

			
	 Section 10.01.
	  	Amendments to Article XIV of the Base Indenture	  	 	20	 
	
	 ARTICLE 11
	  

	
	 REPURCHASE OF NOTES AT THE OPTION OF THE HOLDER
	  

			
	 Section 11.01.
	  	Offer to Repurchase	  	 	22	 
	 Section 11.02.
	  	Early Mandatory Settlement Notice	  	 	23	 
	 Section 11.03.
	  	Procedures for Exercise	  	 	23	 
	 Section 11.04.
	  	Withdrawal of Repurchase Notice	  	 	23	 
	 Section 11.05.
	  	Effect of Repurchase	  	 	24	 
	 Section 11.06.
	  	No Sinking Fund	  	 	24	 
	
	 ARTICLE 12
	  

	
	 TAX TREATMENT
	  

			
	 Section 12.01.
	  	Tax Treatment	  	 	24	 
	
	 ARTICLE 13
	  

	
	 MISCELLANEOUS
	  

			
	 Section 13.01.
	  	Conflict with Trust Indenture Act	  	 	25	 
	 Section 13.02.
	  	Effect of Headings and Table of Contents	  	 	25	 
	 Section 13.03.
	  	Successors and Assigns	  	 	25	 
	 Section 13.04.
	  	Separability	  	 	25	 
	 Section 13.05.
	  	Benefits of Supplemental Indenture	  	 	25	 
	 Section 13.06.
	  	Governing Law and Jury Trial Waiver	  	 	25	 
	 Section 13.07.
	  	Ratification of Indenture	  	 	25	 
		
	Exhibit A – Form of Note	  			

  
 ii 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 FIRST SUPPLEMENTAL INDENTURE dated as of July 1, 2019 (this “Supplemental
Indenture”) between CHANGE HEALTHCARE INC., a Delaware corporation (the “Company”), and U.S. BANK N.A., a national banking association, as trustee (the “Trustee”), supplementing the Indenture dated as of
July 1, 2019, between the Company and the Trustee (the “Base Indenture”). 
 RECITALS OF THE COMPANY: 

WHEREAS, the Company executed and delivered the Base Indenture to provide for, among other things, the issuance of unsecured debt securities
in an unlimited aggregate principal amount to be issued from time to time in one or more series as provided in the Base Indenture; 

WHEREAS, the Base Indenture provides that the Company may enter into an indenture supplemental to the Base Indenture to establish the form
and terms of any series of Securities as provided by Section 3.01 and Section 9.01(7) of the Base Indenture; 
 WHEREAS, the
Company desires and has requested the Trustee to join it in the execution and delivery of this Supplemental Indenture in order to establish and provide for the issuance by the Company of a series of Securities designated as its 5.50% Senior
Amortizing Notes due 2022 (the “Notes”, and each $8.2378 of initial principal amount of such Securities, a “Note”), substantially in the form attached hereto as Exhibit A, on the terms set forth herein; 

WHEREAS, the Company now wishes to issue Notes in an aggregate initial principal amount of $47,367,350, each Note initially to be issued as a
component of the Units (as defined herein) being issued on the date hereof by the Company pursuant to the Purchase Contract Agreement, dated as of July 1, 2019, between the Company and U.S. Bank N.A., as Purchase Contract Agent, as Trustee and
as attorney-in-fact for the holders of Equity-Linked Securities from time to time (the “Purchase Contract Agreement”); and 

WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture, and all requirements necessary to make
(i) this Supplemental Indenture a valid instrument in accordance with its terms and (ii) the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company, have been performed, and
the execution and delivery of this Supplemental Indenture have been duly authorized in all respects. 
 NOW, THEREFORE, THIS SUPPLEMENTAL
INDENTURE WITNESSETH, for and in consideration of the premises and the purchases of the Notes by the Holders thereof, it is mutually agreed, for the benefit of the parties hereto and the equal and proportionate benefit of all Holders of the Notes,
as follows: 
 ARTICLE 1 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

Section 1.01.    Scope of Supplemental Indenture; General. The changes, modifications and supplements to the Base
Indenture effected by this Supplemental Indenture shall be applicable only with respect to, and govern the terms of, the Notes (which shall be initially in the aggregate initial principal amount of $47,367,350) and shall not apply to any other
Securities that may be issued under the Base Indenture unless a supplemental indenture with respect to such other Securities specifically incorporates such changes, modifications and supplements. This Supplemental Indenture shall supersede any
corresponding provisions in the Base Indenture. 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Section 1.02.    Definitions. For all purposes of the
Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
 (i)         the terms defined in this Article 1 shall have the meanings assigned to them in this Article and include the plural as well as the singular;

 (ii)        all words, terms and phrases defined in the Base Indenture (but
not otherwise defined herein) shall have the same meaning herein as in the Base Indenture; 

(iii)       all other terms used herein that are defined in the Trust Indenture Act, either
directly or by reference therein, shall have the meanings assigned to them therein; and 

(iv)       the words “herein,” “hereof” and “hereunder” and
other words of similar import refer to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision. 

“Agent Members” has the meaning ascribed to such term in Section 2.01(d). 

“Base Indenture” has the meaning ascribed to it in the preamble hereof. 

“Beneficial Holder” means, with respect to a Global Note, a Person who is the beneficial owner of such Book-Entry Interest as
reflected on the books of the Depositary or on the books of a Person maintaining an account with the Depositary (directly as a Depositary Participant or as an indirect participant, in each case in accordance with the rules of the Depositary). 

“Book-Entry Interest” means a beneficial interest in a Global Note, registered in the name of a Depositary or a nominee
thereof, ownership and transfers of which shall be maintained and made through book entries by such Depositary. 
 “Certificated
Note” means a Note in definitive registered form without interest coupons. 
 “close of business” means 5:00 p.m.
(New York City time). 
 “Common Stock” means the common stock, par value $0.001 per share, of the Company or such other
securities or assets as shall be deliverable in replacement thereof under the Purchase Contract Agreement pursuant to the terms thereof. 

“Company” has the meaning ascribed to it in the preamble hereof and shall also refer to any successor obligor under the
Indenture. 
 “Component Note” means a Note in global form and attached to a Global Unit that (a) shall evidence the
number of Notes specified therein that are components of the Units evidenced by such Global Unit, (b) shall be registered on the Security Register for the Notes in the name of the Purchase Contract Agent, as attorney-in-fact of holder(s) of the Units of which such Notes form a part, and (c) shall be held by the Purchase Contract Agent as
attorney-in-fact for such holder(s), together with the Global Unit, as custodian of such Global Unit for the Depositary. 

“Defaulted Installment Payment” has the meaning ascribed to it in Section 2.02(d). 

  
 2 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 “Depositary” means The Depository Trust Company until a successor Depositary
shall have become such pursuant to the applicable provisions of the Indenture, and thereafter “Depositary” shall mean such successor Depositary. 

“Depositary Participant” means a broker, dealer, bank, other financial institution or other Person for whom from time to time
the Depositary effects book-entry transfers of securities deposited with the Depositary. 
 “Early Mandatory Settlement
Date” has the meaning ascribed to it in the Purchase Contract Agreement. 
 “Early Mandatory Settlement Notice”
has the meaning ascribed to it in the Purchase Contract Agreement. 
 “Early Mandatory Settlement Right” has the meaning
ascribed to it in the Purchase Contract Agreement. 
 “Equity-Linked Securities” has the meaning ascribed to it in the
Purchase Contract Agreement. 
 “Fundamental Change” has the meaning ascribed to such term in the Purchase Contract
Agreement. 
 “Global Note” means any Note that is a Global Security. 

“Global Unit” has the meaning ascribed to such term in the Purchase Contract Agreement. 

“Holder” means the Person in whose name a Note is registered on the Security Registrar’s books. 

“Indenture” means the Base Indenture, as supplemented by this Supplemental Indenture as originally executed or as it may from
time to time be supplemented or amended by one or more indentures supplemental thereto entered into pursuant to the applicable provisions thereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of
the Trust Indenture Act that are deemed to be a part of and govern the Base Indenture, this Supplemental Indenture and any such supplemental indenture, respectively. 

“Initial Principal Amount” means $8.2378 initial principal amount per Note. 

“Installment Payment” has the meaning ascribed to it in Section 2.02(a). 

“Installment Payment Date” means each March 30, June 30, September 30 and December 30, commencing on
September 30, 2019 and ending on the Maturity Date. 
 “Installment Payment Period” means (i) in the case of the
first Installment Payment Date on September 30, 2019, the period from, and including, the Issue Date to, but excluding, such first Installment Payment Date and (ii) in the case of any subsequent Installment Payment Date, the quarterly
period from, and including, the immediately preceding Installment Payment Date to, but excluding, such Installment Payment Date. 

“Issue Date” means July 1, 2019. 

  
 3 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 “Maturity” when used with respect to any Note, means the date on which any
Installment Payment becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration or otherwise. 

“Maturity Date” means June 30, 2022. 

“Note” and “Notes” have the respective meanings ascribed to such terms in the preamble hereof and include,
for the avoidance of doubt, both Separate Notes and Notes that constitute part of a Unit. 
 “Paying Agent” means any
Person (including the Company) authorized by the Company to pay the principal amount of or interest on any Notes on behalf of the Company. The Paying Agent shall initially be the Trustee. 

“Prospectus” means the preliminary prospectus dated June 14, 2019, as supplemented by the related pricing term sheet
dated June 26, 2019, related to the offering and sale of the Notes. 
 “Purchase Contract” means a prepaid stock
purchase contract obligating the Company to deliver shares of Common Stock on the terms and subject to the conditions set forth in the Purchase Contract Agreement. 

“Purchase Contract Agent” means U.S. Bank N.A., as purchase contract agent under the Purchase Contract Agreement, until a
successor Purchase Contract Agent shall have become such pursuant to the applicable provisions of the Purchase Contract Agreement, and thereafter “Purchase Contract Agent” shall mean such Person. 

“Purchase Contract Agreement” has the meaning ascribed to it in the preamble hereof. 

“Regular Record Date” means, with respect to any March 30, June 30, September 30 and December 30
Installment Payment Date, the immediately preceding March 15, June 15, September 15 or December 15, respectively. 

“Repurchase Date” shall be a date specified by the Company in the Early Mandatory Settlement Notice, which date shall be at
least 20 but not more than 35 Business Days following the date of the Early Mandatory Settlement Notice (and which may or may not fall on the Early Mandatory Settlement Date). 

“Repurchase Notice” means a notice in the form entitled “Form of Repurchase Notice” attached to the Notes. 

“Repurchase Price” means, (a) with respect to a Note to be repurchased pursuant to Article 11, an amount equal to
the principal amount of such Note as of the Repurchase Date, plus accrued and unpaid interest, if any, on such principal amount from, and including, the immediately preceding Installment Payment Date (or, if none, from, and including, the
Issue Date) to, but not including, such Repurchase Date, calculated at an annual rate of 5.50%; provided that, if the Repurchase Date falls after a Regular Record Date for any Installment Payment and on or prior to the immediately succeeding
Installment Payment Date, the Installment Payment payable on such Installment Payment Date will be paid on such Installment Payment Date to the holder as of such Regular Record Date and will not be included in the Repurchase Price per Note or
(b) with respect to a Note that has been accelerated pursuant to Article 5, an amount equal to the principal amount of such Note as of the date of acceleration, plus accrued and unpaid interest, if any, on such principal amount from, and
including, the last Installment Payment Date in respect of which the relevant Installment Payment was paid (or, if none, from, and including, the Issue Date) to, but not including, the date of acceleration. 

  
 4 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 “Repurchase Right” has the meaning ascribed to it in Section 11.01.

 “Separate Note” means a Note that has been separated from a Unit in accordance with the terms of the Purchase Contract
Agreement. 
 “Separate Purchase Contract” means a Purchase Contract that has been separated from a Unit in accordance with
the terms of the Purchase Contract Agreement. 
 “Stated Maturity”, when used with respect to any Note or any Installment
Payment thereon, means the date specified in such Note as the fixed date on which the Repurchase Price of such Note or such Installment Payment is due and payable. 

“Supplemental Indenture” has the meaning ascribed to it in the preamble hereof. 

“Surviving Person” has the meaning ascribed to it in Section 6.01(a) 

“Trustee” means the party named in the preamble hereof until a successor replaces such party in accordance with the
applicable provisions of the Indenture and thereafter means the successor serving hereunder. 
 “Unit” means the collective
rights of a holder of a 6.00% Tangible Equity Unit, with a stated amount of $50.00 (representing an issue price of $8.2378 for the Note included in each Unit and an issue price of $41.7622 for the Purchase Contract included in each Unit), issued by
the Company pursuant to the Purchase Contract Agreement, each consisting of a single Purchase Contract and a single Note prior to separation or subsequent to recreation thereof pursuant to the Purchase Contract Agreement. 

ARTICLE 2 
 THE SECURITIES 

Section 2.01.    Title and Terms. 

(a) There is hereby authorized a series of Securities designated the “5.50% Senior Amortizing Notes due 2022” limited in aggregate
initial principal amount to $47,367,350, which amount shall be as set forth in any written order of the Company for authentication and delivery of Notes pursuant to Section 3.03 of the Base Indenture. 

(b) The Notes will initially be issued as Component Notes in substantially the form of Attachment 4 to the form of Global Unit attached as
Exhibit A to the Purchase Contract Agreement, with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by the Indenture, and may have such letters, numbers or other marks of identification and such
legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officers of the Company executing such Notes, as evidenced by their execution of the
Notes. The Notes will initially be attached to the related Global Unit and registered in the name of U.S. Bank N.A., as attorney-in-fact of the holder(s) of such Global
Unit. 
 (c) Holders of Units have the right to separate such Units into their constituent parts, consisting of Separate Purchase Contracts
and Separate Notes, during the times, and under the circumstances, described in Section 2.03 of the Purchase Contract Agreement. Upon separation of any Unit into its constituent parts, (i) if such Unit is a Global Unit, the Separate Notes
will initially be evidenced by a Global Note (the “Global Note”) in substantially the form of Exhibit A hereto, which is 

  
 5 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 
incorporated into and shall be deemed a part of this Supplemental Indenture, and deposited with the Trustee as custodian for the Depositary and registered in the name of the Depositary or its
nominee, or (ii) if such Unit is in definitive, registered form, the Separate Notes will be evidenced by Certificated Notes in substantially the form of Exhibit A hereto, in each case, as provided in Section 2.03 of the Purchase Contract
Agreement. Following separation of any Unit into its constituent Separate Note and Separate Purchase Contract, the Separate Notes are transferable independently from the Separate Purchase Contracts. In addition, Separate Notes can be recombined with
Separate Purchase Contracts to recreate Units, as provided for in Section 2.04 of the Purchase Contract Agreement. 
 (d) The Global
Note representing Separate Notes (which shall initially have a balance of zero Notes) shall be registered in the name of Cede & Co., as nominee of the Depositary and delivered to the Trustee, as custodian for the Depositary. Members of, or
participants in, the Depositary (“Agent Members”) shall have no rights under the Indenture with respect to any Global Note (or any Global Unit in the case of Component Notes) held on their behalf by the Depositary, or the Trustee as
its custodian, or under the Global Note (or such Global Unit), and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the Global Note (or such Global Unit) for all purposes
whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or
impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of any Holder. 

(e) The Notes shall be issuable in denominations of initial principal amounts equal to the Initial Principal Amount and integral multiples in
excess thereof. 
 Section 2.02.    Installment Payments. (a) The Company shall pay installments on the
Notes (each such payment, an “Installment Payment”) in cash at the place, at the respective times and in the manner provided in the Notes. Installment Payments shall be paid to the Person in whose name a Note is registered at the
close of business on the Regular Record Date corresponding to such Installment Payment Date. The Company has initially designated the Trustee as its Paying Agent and Security Registrar in respect of the Notes and its agency in New York, New York as
a place where Notes may be presented for payment or for registration of transfer. The Company may, however, change the Paying Agent or Security Registrar for the Notes without prior notice to the Holders thereof, and the Company may act as Paying
Agent or Security Registrar. 
 (b) On the first Installment Payment Date occurring on September 30, 2019, the Company shall pay, in
cash, an Installment Payment with respect to each Note in an amount equal to $0.7417 per Note, and on each Installment Payment Date thereafter, the Company shall pay, in cash, equal quarterly Installment Payments with respect to each Note in an
amount equal to $0.7500 per Note; provided that, in respect of any Certificated Note, the final Installment Payment shall be made only against surrender of such Certificated Note to the Paying Agent. 

(c) Each Installment Payment shall constitute a payment of interest (at a rate of 5.50% per annum) and a partial repayment of principal on the
Notes, allocated with respect to each Note as set forth in the schedule below: 
  

									
	 Scheduled Installment Payment Date
	  	Amount of
Principal	 	  	Amount of
Interest	 
	 September 30, 2019
	  	$	0.6297	 	  	$	0.1120	 
	 December 30, 2019
	  	$	0.6454	 	  	$	0.1046	 
	 March 30, 2020
	  	$	0.6543	 	  	$	0.0957	 

  
 6 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

									
	 June 30, 2020
	  	$	  0.6633	 	  	$	  0.0867	 
	 September 30, 2020
	  	$	0.6724	 	  	$	0.0776	 
	 December 30, 2020
	  	$	0.6816	 	  	$	0.0684	 
	 March 30, 2021
	  	$	0.6910	 	  	$	0.0590	 
	 June 30, 2021
	  	$	0.7005	 	  	$	0.0495	 
	 September 30, 2021
	  	$	0.7101	 	  	$	0.0399	 
	 December 30, 2021
	  	$	0.7199	 	  	$	0.0301	 
	 March 30, 2022
	  	$	0.7298	 	  	$	0.0202	 
	 June 30, 2022
	  	$	0.7398	 	  	$	0.0102	 

 (d) Each Installment Payment for any Installment Payment Period shall be computed on the basis of a 360-day year of twelve 30-day months. If an Installment Payment is payable for any period shorter or longer than a full Installment Payment Period, such Installment Payment
shall be computed on the basis of the actual number of days elapsed per 30-day month. Furthermore, if any date on which an Installment Payment is payable is not a Business Day, then payment of the Installment
Payment on such date shall be made on the next succeeding day that is a Business Day, and without any interest or other payment in respect of any such delay. 

Any Installment Payment on any Note which is payable, but is not punctually paid or duly provided for, on any Installment Payment Date (herein
called “Defaulted Installment Payment”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Installment Payment may be paid by the Company,
at its election in each case, as provided in Clause (1) or (2) below: 
 (1) The Company may elect to make payment of any Defaulted
Installment Payment to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on a Special Record Date for the payment of such Defaulted Installment Payment, which shall be fixed in the
following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Installment Payment proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee
an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Installment Payment or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Installment Payment as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Installment Payment which
shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of
such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Installment Payment and the Special Record Date therefor to be mailed, first-class postage prepaid, to each
Holder of Notes at his address as it appears in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Installment Payment and the Special Record Date therefor having been so
mailed, such Defaulted Installment Payment shall be paid to the Persons in whose names the Notes (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant
to the following Clause (2). 
 (2) The Company may make payment of any Defaulted Installment Payment on the Notes in any other lawful
manner not inconsistent with the requirements of any securities exchange on which such Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment
pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 

  
 7 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Section 2.03.    Maturity Date. The date on which the
final Installment Payment on the Notes shall be due, unless the Notes are accelerated pursuant to the terms hereof or otherwise paid prior to Maturity in connection with a Holder’s exercise of the Repurchase Right, shall be the Maturity Date.

 Section 2.04.    Right to Exchange or Register a Transfer. (a) The Company shall not be
required to exchange or register a transfer of any Note if the Holder thereof has exercised his, her or its right, if any, to require the Company to repurchase such Note in whole or in part, except the portion of such Note not required to be
repurchased. 
 (b) For purposes of any Note that constitutes part of a Unit, Section 3.05 of the Base Indenture (as modified by this
Supplemental Indenture) shall be subject to the provisions of the Purchase Contract Agreement. 
 ARTICLE 3 

SATISFACTION AND DISCHARGE 

Section 3.01.    Amendments to Article IV of the Base Indenture. For purposes of the Notes, Article IV
of the Base Indenture shall be amended and restated in its entirety with the following: 
 “Section 4.01 Satisfaction and
Discharge of Indenture. 
 This Indenture shall upon Company Request cease to be of further effect (except as to any
surviving rights of registration of transfer or exchange of Notes herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 

(1) either 

(A) all Notes theretofore authenticated and delivered (other than (i) Notes which have been destroyed, lost or stolen and
which have been replaced or paid as provided in Section 3.06 and (ii) Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the
Company or discharged from such trust, as provided in Section 10.03) have been delivered to the Trustee for cancellation; or 

(B) all such Notes not theretofore delivered to the Trustee for cancellation 

(i) have become due and payable, or 

(ii) will become due and payable at their Stated Maturity within one year, and the Company, in the case of (i) or (ii)
above, has deposited or caused to be deposited with the Trustee, cash or U.S. Government Obligations, as trust funds in trust for the purpose, an amount sufficient to pay and discharge the entire indebtedness on such Notes not theretofore delivered
to the Trustee for cancellation, for Installment Payments to the date of such deposit (in the case of Notes which have become due and payable) or to the Stated Maturity; 

  
 8 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 (2) the Company has paid or caused to be paid all other sums payable
hereunder by the Company; and 
 (3) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under
Section 6.07, and, if money shall have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of this Section, the obligations of the Trustee under Section 4.02 and the
last paragraph of Section 10.03 shall survive such satisfaction and discharge. 

Section 4.02 Application of Trust Money. 

Subject to the last paragraph of Section 10.03, all money deposited with the Trustee pursuant to
Section 4.01 shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own
Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the Installment Payments for whose payment such money has been deposited with the Trustee.” 

ARTICLE 4 
 DEFAULTS AND REMEDIES

 Section 4.01.    Amendments to Article V of the Base Indenture. For purposes of the Notes, Article V of
the Base Indenture shall be amended and restated in its entirety by the following: 
 “Section 5.01 Events of
Default. 
 “Event of Default”, wherever used herein with respect to Notes, means any one of the
following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body): 
 (1) default in the payment of any Installment Payment on any Notes as and when the
same shall become due and payable and continuance of such failure for a period of 30 days; or 
 (2) default in the payment
of the Repurchase Price of any Notes when the same shall become due and payable; or 
 (3) failure by the Company to give
notice of a Fundamental Change pursuant to Section 4.07 of the Purchase Contract Agreement when due and continuance of such failure for a period of five Business Days; or 

(4) default in the performance, or breach, of any covenant or warranty of the Company in this Indenture (other than a covenant
or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the benefit of series of Notes other than the Notes), and continuance
of such default or breach for a period of 90 days after there has been given, by registered or certified mail, 

  
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to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Notes a written notice specifying such default or breach and
requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 
 (5) the entry by
a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or
(B) a decree or order adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State
law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance
of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 60 consecutive days; or 

(6) the commencement by the Company of a voluntary case or proceeding under any applicable Federal or State bankruptcy,
insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the Company in an involuntary case or
proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent
seeking reorganization or relief under any applicable Federal or State law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or
other similar official of the Company or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or
the taking of corporate action by the Company in furtherance of any such action. 
 Notwithstanding anything to the contrary
herein, in no event shall the Qualified McKesson Exist and related transactions, including the Merger (as defined in the Prospectus), constitute an Event of Default under the Indenture. 

Section 5.02 Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default with respect to Notes at the time Outstanding occurs and is continuing, then in every such case the
Trustee or the Holders of not less than 25% in principal amount of the Outstanding Notes may declare the Notes to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such
declaration the Repurchase Price shall become immediately due and payable. If an Event of Default described in Section 5.01(5) or Section 5.01(6) occurs and is continuing, the Repurchase Price on
all the Notes will become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. 

At any time after such a declaration of acceleration with respect to Notes has been made and before a judgment or decree for
payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Notes, by written notice to the Company and the Trustee, may rescind and annul such
declaration and its consequences if: 
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 (A) all overdue Installment Payments on all Notes, 

(B) the Repurchase Price on any Notes which have become due otherwise than by such declaration of acceleration and any interest
thereon at the rate or rates prescribed therefor in such Notes, 
 (C) to the extent that payment of such interest is lawful,
interest upon overdue Repurchase Price and Installment Payments at the rate or rates prescribed therefor in such Notes, and 

(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel; and 
 (2) all Events of Default with respect to Notes, other than the non-payment of the Repurchase Price of Notes which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. 

No such rescission shall affect any subsequent default or impair any right consequent thereon. 

Section 5.03 Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if: 

(1) default is made in the payment of any Installment Payments on any Note when such Installment Payment becomes due and
payable and such default continues for a period of 30 days, or 
 (2) default is made in the Repurchase Price of any Note at
the Maturity thereof, 
 the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such
Notes, the whole amount then due and payable on such Notes for the Repurchase Price and Installment Payments and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue Repurchase Price or Installment
Payments, at the rate or rates prescribed therefor in such Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel. 
 If an Event of Default with respect to the Notes occurs and is
continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Notes by such appropriate judicial proceedings as the Trustee shall deem necessary to protect and enforce any such rights,
whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

Section 5.04 Trustee May File Proofs of Claim. 

In case of any judicial proceeding relative to the Company (or any other obligor upon the Notes), its property or its
creditors, the Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such
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particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver,
assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 6.07. 
 No provision of this Indenture shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim
of any Holder in any such proceeding; provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 

Section 5.05 Trustee May Enforce Claims Without Possession of Notes. 

All rights of action and claims under this Indenture or the Notes may be prosecuted and enforced by the Trustee without the
possession of any of the Notes or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Notes in respect of which such judgment has been recovered. 

Section 5.06 Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed
by the Trustee and, in case of the distribution of such money on account of Repurchase Price or any Installment Payment, upon presentation of the Notes and the notation thereon of the payment if only partially paid and upon surrender thereof if
fully paid: 
 FIRST: To the payment of all amounts due the Trustee under Section 6.07; 

SECOND: To the payment of the amounts then due and unpaid for Repurchase Price and Installment Payments on the Notes, ratably,
without preference or priority of any kind, according to the amounts due and payable on such Notes for Repurchase Price and Installment Payments; and 

THIRD: To the Company. 

Section 5.07 Limitation on Suits. 

No Holder of any Note shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture,
or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 
 (1) such Holder has previously
given written notice to the Trustee of a continuing Event of Default with respect to the Notes; 

  
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 (2) the Holders of not less than 25% in principal amount of the Outstanding
Notes shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

(3) such Holder or Holders have offered to the Trustee reasonable indemnity satisfactory to it against the costs, expenses and
liabilities to be incurred in compliance with such request; 
 (4) the Trustee for 60 days after its receipt of such notice,
request and offer of indemnity has failed to institute any such proceeding; and 
 (5) no direction inconsistent with such
written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Notes; it being understood and intended that no one or more of such
Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference
over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 

Section 5.08 Unconditional Right of Holders to Receive Repurchase Price and Installment Payments. 

Notwithstanding any other provision in this Indenture, the Holder of any Note shall have the right, which is absolute and
unconditional, to receive payment of the Repurchase Price and Installment Payments (subject to Section 3.07) on such Note on the respective Stated Maturities expressed in such Note and to institute suit for the enforcement
of any such payment, and such rights shall not be impaired without the consent of such Holder. 
 Section 5.09
Restoration of Rights and Remedies. 
 If the Trustee or any Holder has instituted any proceeding to enforce any right
or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding,
the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been
instituted. 
 Section 5.10 Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in the
last paragraph of Section 3.06, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other appropriate right or remedy. 

  
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 Section 5.11 Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Notes to exercise any right or remedy accruing upon any Event of
Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time,
and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 5.12
Control by Holders. 
 The Holders of a majority in principal amount of the Outstanding Notes shall have the right to
direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Notes, provided that 

(1) such direction shall not be in conflict with any rule of law or with this Indenture, 

(2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and 

(3) subject to the provisions of Section 6.01, the Trustee shall have the right to decline to follow
any such direction if the Trustee in good faith shall, by a Responsible Officer or Officers of the Trustee, determine that the proceedings so directed would involve the Trustee in personal liability. 

Section 5.13 Waiver of Past Defaults. 

The Holders of not less than a majority in principal amount of the Outstanding Notes may on behalf of the Holders of all the
Notes waive any past default hereunder with respect to such Notes and its consequences, except a default 
 (1) in the
payment of the Repurchase Price or any Installment Payment on any Note, or 
 (2) in respect of a covenant or provision
hereof which under Article IX cannot be modified or amended without the consent of the Holder of each Outstanding Note affected. 

Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have
been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Section 5.14 Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action
taken, suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs against any such party litigant, in the manner and to the extent provided in
the Trust Indenture Act; provided that neither this Section nor the Trust Indenture Act shall apply to any suit instituted by the Trustee, to any suit instituted by any Holders of the Notes, or group of Holders of the Notes, holding in the aggregate
more than 10% of principal amount of the Outstanding Notes, or to any suit instituted by any Holder of the Outstanding Notes for the enforcement of the payment of the Installment Payments on any Outstanding Notes held by such

  
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Holder, on or after the respective due dates expressed in such Outstanding Notes, and provided, further, that neither this Section nor the Trust Indenture Act shall be deemed to authorize any
court to require such an undertaking or to make such an assessment in any suit instituted by the Company. 

Section 5.15 Waiver of Usury, Stay or Extension Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any
manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the
extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the
execution of every such power as though no such law had been enacted.” 
 ARTICLE 5 

THE TRUSTEE 

Section 5.01.    Amendments to Article VI of the Base Indenture. 

(a) For purposes of the Notes, Section 6.05 of the Base Indenture shall be amended and restated in its entirety with the following:

 “If an Event of Default with respect to Notes occurs and is continuing and if it is known to the Trustee, the Trustee
shall mail to each Holder of Notes notice of the uncured Event of Default within 90 days after such Event of Default occurs. Except in the case of an Event of Default in payment of Repurchase Price or any Installment Payment on any Note, the Trustee
may withhold the notice if and so long as a Responsible Officer in good faith determines that withholding the notice is in the interest of the Holders of Notes.” 

(b) For purposes of the Notes, the second and third paragraphs of Section 6.07 of the Base Indenture shall be amended and restated in its
entirety with the following: 
 “The Company shall indemnify each of the Trustee (in its capacity as Trustee) and any
predecessor Trustee and each of their respective officers, directors, attorneys-in-fact and agents for, and hold it harmless against, any claim, demand, expense
(including but not limited to reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel), loss, charges (including taxes (other than taxes based upon the income of the Trustee)) or liability incurred by them
without negligence or bad faith on its part, arising out of or in connection with the execution and performance of the Purchase Contract Agreement and the acceptance or administration of this trust and their rights or duties hereunder including the
reasonable costs and expenses of defending themselves against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. The Trustee shall notify the Company promptly of any claim asserted against
the Trustee for which it may seek indemnity. At the request of the Trustee, the Company shall defend the claim and the Trustee shall provide reasonable cooperation at the Company’s expense in the defense. The Trustee may have separate counsel
and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its written consent which consent shall not be unreasonably withheld. The Company need not reimburse any expense or
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against any loss or liability to the extent incurred by the Trustee as determined by a final, non-appealable, judgment of a court of competent jurisdiction
to have been caused by its own negligence, bad faith or willful misconduct. 
 To secure the Company’s payment
obligations in this Section 6.07, the Trustee shall have a lien prior to the Notes on all assets held or collected by the Trustee, in its capacity as Trustee, except assets held in trust to pay Repurchase Price or
Installment Payments on particular Notes.” 
 ARTICLE 6 

SUCCESSOR CORPORATION 

Section 6.01.    Amendments to Article VIII of the Base Indenture. 

(a) For purposes of the Notes, Article VIII of the Base Indenture shall be amended and restated in its entirety to the following: 

“Section 8.01 When Company May Merge, Etc. (a) The Company shall not consolidate or merge with or into any other entity,
or sell, transfer, lease or otherwise convey its properties and assets as an entirety or substantially as an entirety to any entity, unless: 

(1) (i) the Company is the continuing entity (in the case of a merger) or (ii) the successor entity formed by such
consolidation or into which it is merged or which acquires by sale, transfer, lease or other conveyance of its properties and assets, as an entirety or substantially as an entirety (any such other entity being referred to herein as the
“Surviving Person”), is a corporation organized and existing under the laws of the United States of America or any State thereof, the District of Columbia or any territory thereof, and expressly assumes, by supplemental indenture,
the due and punctual payment of the Installment Payments on the Notes and the performance of all of the covenants under this Indenture; 

(2) immediately after giving effect to the transaction, no Event of Default, and no event which after notice or lapse of time
or both would become an Event of Default under this Indenture, has or will have occurred and be continuing; and 
 (3) if a
supplemental indenture is required in connection with such transaction, the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger, assignment, or transfer and such
supplemental indenture comply with this Article VIII and that all conditions precedent herein provided relating to such transaction have been satisfied. 

(b) Notwithstanding the foregoing, in no event shall this Section 8.01 be construed to prohibit or otherwise restrict a
Qualified McKesson Exit (as defined in the Purchase Contract Agreement) or any related transaction. 
 Section 8.02 Successor
Corporation Substituted. Upon any consolidation or merger, or any transfer of assets in accordance with Section 8.01, the Surviving Person formed by such consolidation or into which the Company is merged or to which
such transfer is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such Surviving Person had been named as the Company herein. When a Surviving
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obligations of the Company pursuant hereto and pursuant to the Notes, the predecessor shall be relieved of the performance and observance of all obligations and covenants of this Indenture and
the Notes, including but not limited to the obligation to make payment of the Installment Payments on all the Notes then outstanding, and the Company may thereupon or any time thereafter be liquidated and dissolved.” 

ARTICLE 7 
 AMENDMENTS,
SUPPLEMENTS AND WAIVERS 
 Section 7.01.    Amendments to Article IX of the Base Indenture. 

(a) For purposes of the Notes, Section 9.01 and 9.02 of the Base Indenture shall be amended and restated in its entirety with the
following: 
 “Section 9.01 Supplemental Indentures Without Consent of Holders. Without the consent of any
Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 

(1) to cure any ambiguity, omission, defect or inconsistency in this Indenture; or 

(2) to provide for the assumption by a successor corporation as set forth in Article VIII; or 

(3) to comply with any requirements of the Commission in connection with the qualification of this Indenture under the Trust
Indenture Act; or 
 (4) to evidence and provide for the acceptance of appointment with respect to the Notes by a successor
Trustee in accordance with this Indenture, and add or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts under this Indenture by more than one Trustee; or 

(5) to secure the Notes; or 

(6) to add guarantees with respect to the Notes; or 

(7) to add covenants or Events of Default for the benefit of the Holders or surrender any right or power conferred upon the
Company; or 
 (8) to make any change that does not adversely affect the rights of any Holder in any material respect; or

 (9) to conform the provisions of this Indenture or the Notes to any provision of the “Description of the Amortizing
Notes” section in the Prospectus Supplement. 
 Section 9.02 Supplemental Indentures With Consent of
Holders. With the consent of the Holders of not less than a majority in principal amount of the Outstanding Notes, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the
Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the 

  
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provisions of this Indenture or modifying in any manner the rights of the Holders of Notes under this Indenture; provided, however, that no such supplemental indenture shall, without the consent
of the Holder of each Outstanding Note affected thereby, 
 (1) change any Installment Payment Date or reduce the amount owed
on any Installment Payment Date, or 
 (2) reduce the Repurchase Price or amend or modify in any manner adverse to the
Holders of the Notes the obligation of the Company to make such payment, or 
 (3) reduce the percentage in principal amount
of the Outstanding Notes, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver provided for in this Indenture, or 

(4) impair the right of any Holder to receive the Repurchase Price on or after the due dates therefor or the right to institute
suit for the enforcement of any such payment on or after the due dates therefor, or 
 (5) modify any of the provisions of
this Section or Section 5.13 or Section 10.05, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent
of the Holder of each Outstanding Note affected thereby, provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in
this Section, or the deletion of this proviso, in accordance with the requirements of Sections 6.11 and 9.01(8). 

It shall not be necessary for any Act of Holders under this Section to approve the particular form of any proposed supplemental
indenture, but it shall be sufficient if such Act shall approve the substance thereof.” 
 ARTICLE 8 

COVENANTS 

Section 8.01.    Amendments to Article X of the Base Indenture. 

(a) For purposes of the Notes, Section 10.01 of the Base Indenture shall be amended and restated in its entirety with the following: 

“The Company covenants and agrees for the benefit of the Notes that it will duly and punctually pay the Repurchase Price
and Installment Payments on the Notes in accordance with the terms of the Notes and this Indenture.” 
 (b) For purposes of the Notes,
Section 10.03 of the Base Indenture shall be amended and restated in its entirety with the following: 
 “If the
Company shall at any time act as its own Paying Agent with respect to the Notes, it will, on or before each due date of the Repurchase Price and Installment Payments on the Notes, segregate and hold in trust for the benefit of the Persons entitled
thereto a sum sufficient to pay the Repurchase Price and Installment Payments so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so
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 Whenever the Company shall have one or more Paying Agents for the Notes, it
will, on or prior to each due date of the Repurchase Price and Installment Payments on the Notes, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Act, and (unless such Paying
Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 
 The Company will
cause each Paying Agent for the Notes other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will
(1) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent and (2) during the continuance of any default by the Company (or any other obligor upon the Notes) in the making of any payment in respect of the
Notes, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Notes. 

The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other
purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust hereunder by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held
by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the
Repurchase Price and Installment Payments on any Note and remaining unclaimed for two years after such Repurchase Price and Installment Payment has become due and payable shall be paid to the Company on Company Request, or (if then held by the
Company) shall be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such
trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be
published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in the Borough of Manhattan, The City of New York, New York, notice that such money remains unclaimed and that,
after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.” 

ARTICLE 9 
 NO REDEMPTION 

Section 9.01.    Article XI of the Base Indenture Inapplicable. The Notes shall not be redeemable at the option of
the Company and Article XI of the Base Indenture shall not apply to the Notes. 

  
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 ARTICLE 10 

DEFEASANCE AND COVENANT DEFEASANCE 

Section 10.01.    Amendments to Article XIV of the Base Indenture. For purposes of the Notes, Article XIV of
the Base Indenture shall be amended and restated in its entirety with the following: 
 “Section 14.01
Company’s Option to Effect Defeasance or Covenant Defeasance. 
 The Company may elect, at its
option by Board Resolution at any time, to have either Section 14.02 or Section 14.03 applied to the Outstanding Notes, upon compliance with the conditions set forth below in this Article
XIV. 
 Section 14.02 Defeasance and Discharge. 

Upon the Company’s exercise of the option provided in Section 14.01 to have this
Section 14.02 applied to the Outstanding Notes, the Company shall be deemed to have been discharged from its obligations with respect to the Outstanding Notes as provided in this Section on and after the date the conditions
set forth in Section 14.04 are satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness
represented by the Outstanding Notes and to have satisfied all its other obligations under the Notes and this Indenture insofar as the Notes are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of Notes to receive, solely from the trust fund described in
Section 14.04 and as more fully set forth in such Section, payments in respect of the principal and Installment Payments on such Notes when payments are due, (2) the Company’s obligations with respect to the Notes
under Sections 3.04, 3.05, 3.06, 10.02 and 10.03, (3) the rights, protections, powers, trusts, duties and immunities of the Trustee hereunder and (4) this Article XIV. Subject to compliance with this
Article XIV, the Company may exercise its option provided in Section 14.01 to have this Section 14.02 applied to the Outstanding Notes notwithstanding the prior exercise of its option
provided in Section 14.01 to have Section 14.03 applied to the Outstanding Notes. Following a Defeasance, payment of such Notes may not be accelerated because of an Event of Default. 

Section 14.03 Covenant Defeasance. 

Upon the Company’s exercise of the option provided in Section 14.01 to have this
Section 14.03 applied to the Outstanding Notes, (1) the Company shall be released from its obligations under any covenants provided pursuant to Section 3.01(17) or
Section 9.01(2) with respect to the Notes and Section 8.01, as applicable, and (2) the occurrence of any event specified in Section 5.01(4) (with respect to
Section 8.01, any such covenants provided pursuant to Section 3.01(17) or Section 9.01(2)), shall be deemed not to be or result in an Event of Default, in each case with
respect to the Outstanding Notes as provided in this Section on and after the date the conditions set forth in Section 14.04 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such
Covenant Defeasance means that the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any covenants added for the benefit of the Notes pursuant to any such specified Section (to
the extent so specified in the case of Section 5.01(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other
provision herein or in any other document, but the remainder of this Indenture and the Notes shall be unaffected thereby. 

  
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 Section 14.04 Conditions to Defeasance or Covenant Defeasance.

 The following shall be the conditions to application of either Section 14.02 or
Section 14.03 to the Outstanding Notes: 
 (1) The Company shall irrevocably have deposited or
caused to be deposited with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of Outstanding Notes, (A) U.S. Dollars
in an amount, or (B) U.S. Government Obligations that through the scheduled payment of Installment Payments in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an
amount, or (C) a combination thereof, in each case sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and
which shall be applied by the Trustee (or any such other qualifying trustee) to pay and discharge, the principal of and Installment Payments on the Notes on the respective Stated Maturities, in accordance with the terms of this Indenture and the
Notes. 
 (2) In the case of an election under Section 14.02, the Company shall have delivered to
the Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date first set forth hereinabove, there has been a change in the
applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of the Outstanding Notes will not recognize gain or loss for Federal income tax purposes as a result
of the deposit, Defeasance and discharge to be effected with respect to the Notes and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit, Defeasance and discharge
were not to occur. 
 (3) In the case of an election under Section 14.03, the Company shall have
delivered to the Trustee an Opinion of Counsel to the effect that the Holders of the Outstanding Notes will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be effected with respect to
the Notes and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur. 

(4) No Event of Default or event that (after notice or lapse of time or both) would become an Event of Default shall have
occurred and be continuing at the time of such deposit. 
 (5) Such Defeasance or Covenant Defeasance shall not cause the
Trustee to have a conflicting interest within the meaning of the Trust Indenture Act (assuming all Notes are in default within the meaning of such Act). 

(6) Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any
other material agreement or instrument to which the Company is a party or by which it is bound. 
 (7) The Company shall have
delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 

  
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 The Registrant has requested confidential treatment of this draft registration statement
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 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Section 14.05 Deposited Money and U.S. Government Obligations to be
Held in Trust; Other Miscellaneous Provisions. 
 Subject to Section 10.03, all money and U.S.
Government Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 14.06, the Trustee and any such other trustee are referred to
collectively as the “Trustee”) pursuant to Section 14.04 in respect of the Notes shall be held in trust and applied by the Trustee, in accordance with the provisions of the Notes and this Indenture, to the
payment, either directly or through any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of Notes, of all sums due and to become due thereon in respect of principal or Installment
Payments, but money so held in trust need not be segregated from other funds except to the extent required by law. 
 The
Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 14.04 or the principal or Installment Payments
received in respect thereof other than any such tax, fee or other charge that by law is for the account of the Holders of Outstanding Notes. 

Anything in this Article XIV to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time
to time upon Company Request any money or U.S. Government Obligations held by it as provided in Section 14.04 with respect to Notes that, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Defeasance or Covenant Defeasance with respect to the Notes. 

Section 14.06 Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article XIV with respect to the
Notes by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Notes shall be revived and reinstated
as though no deposit had occurred pursuant to this Article XIV with respect to Notes until such time as the Trustee or Paying Agent is permitted to apply all money held in trust pursuant to Section 14.05 with respect
to Notes in accordance with this Article XIV; provided, however, that if the Company makes any payment of principal or any Installment Payment on any Note following the reinstatement of its obligations, the Company shall be
subrogated to the rights of the Holders of Notes to receive such payment from the money so held in trust.” 
 ARTICLE 11 

REPURCHASE OF NOTES AT THE OPTION OF THE HOLDER 

Section 11.01.    Offer to Repurchase. If the Company elects to exercise its Early Mandatory Settlement Right with
respect to the Purchase Contracts pursuant to the terms of the Purchase Contract Agreement, then each Holder of Notes (whether any such Note is a Separate Note or constitutes part of a Unit) shall have the right (the “Repurchase
Right”) to require the Company to repurchase some or all of its Notes for cash at the Repurchase Price per Note to be repurchased on the Repurchase Date, pursuant to Section 11.03. The Company shall not be required to repurchase a portion
of a Note. Holders shall not have the right to require the Company to repurchase any or all of such Holders’ Notes in connection with any Early Settlement (as such term is defined in the Purchase Contract Agreement) of such Holders’
Purchase Contracts at the Holders’ option pursuant to the terms of the Purchase Contract Agreement. 

  
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 Section 11.02.    Early Mandatory Settlement Notice.
If the Company elects to exercise its Early Mandatory Settlement Right with respect to the Purchase Contracts pursuant to the terms of the Purchase Contract Agreement, the Company shall provide the Trustee and the Holders of the Notes with a
copy of the Early Mandatory Settlement Notice delivered pursuant to the Purchase Contract Agreement. 

Section 11.03.    Procedures for Exercise. 

(a) To exercise the Repurchase Right, a Holder must deliver, on or prior to the close of business on the Business Day immediately preceding the
Repurchase Date, the Notes to be repurchased (or the Units that include the Notes to be repurchased, if (x) the Early Mandatory Settlement Date occurs on or after the Repurchase Date and (y) the relevant Notes have not been separated from
the Units), together with a duly completed written Repurchase Notice, in each case, subject to and in accordance with applicable procedures of the Depositary, unless the Notes are not in the form of a Global Note (or the Units are not in the form of
Global Units, as the case may be), in which case such Holder must deliver the Notes to be repurchased (or the Units that include the Notes to be repurchased, if (i) the Early Mandatory Settlement Date occurs on or after the Repurchase Date and
(ii) the Notes have not been separated from the Units), duly endorsed for transfer to the Company, together, in either case, with a Repurchase Notice, to the Paying Agent. 

(b) The Repurchase Notice must state the following: 

(i) if Certificated Notes (or Units) have been issued, the certificate numbers of the Notes (or Units), or if the Notes (or
Units) are in the form of a Global Note (or a Global Unit), the Repurchase Notice must comply with appropriate procedures of the Depositary; 

(ii) the number of Notes to be repurchased; and 

(iii) that the Notes are to be repurchased by the Company pursuant to the applicable provisions of the Notes and this Article
11. 
 (c) In the event that the Company exercises its Early Mandatory Settlement Right with respect to Purchase Contracts that are a
component of Units and the Early Mandatory Settlement Date occurs prior to the Repurchase Date, upon such Early Mandatory Settlement Date, the Company shall execute and the Trustee shall authenticate on behalf of the holder of the Units and deliver
to such holder, at the expense of the Company, Separate Notes in the same form and in the same number as the Notes comprising part of the Units. 

Section 11.04.    Withdrawal of Repurchase Notice. 

(a) A Holder may, subject to and in accordance with applicable procedures of the Depositary, in the case of a Global Note or Global Unit,
withdraw any Repurchase Notice (in whole or in part) by a written, irrevocable notice of withdrawal delivered to the Paying Agent, with a copy to the Trustee and the Company, on or prior to the close of business on the Business Day immediately
preceding the Repurchase Date. 

  
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 (b) The notice of withdrawal must state the following: 

(i) if Certificated Notes (or Units) have been issued, the certificate numbers of the withdrawn Notes (or Units), or if the
Notes (or Units) are in the form of a Global Note (or a Global Unit), the notice of withdrawal must comply with appropriate Depositary procedures; 

(ii) the number of the withdrawn Notes; and 

(iii) the number of Notes, if any, that remain subject to the Repurchase Notice. 

Section 11.05.    Effect of Repurchase. (a) The Company shall be required to repurchase the Notes
with respect to which the Repurchase Right has been validly exercised and not withdrawn on the Repurchase Date. To effectuate such repurchase, the Company shall deposit immediately available funds with the Paying Agent, on or prior to 11:00 a.m.,
New York City time, on the Repurchase Date, in an amount or amounts sufficient to pay the Repurchase Price with respect to those Notes for which the Repurchase Right has been exercised. A Holder electing to exercise the Repurchase Right shall
receive payment of the Repurchase Price on the later of (i) the Repurchase Date and (ii) the time of book-entry transfer or the delivery of the Notes (or Units, as applicable). 

(b) If the Paying Agent holds money on the Repurchase Date sufficient to pay the Repurchase Price with respect to those Notes for which the
Repurchase Right has been exercised, then (i) such Notes shall cease to be outstanding and interest shall cease to accrue thereon (whether or not book-entry transfer of the Notes or Units, as applicable, is made or whether or not the Notes or
Units, as applicable, are delivered as required herein), and (ii) all other rights of the Holder shall terminate (other than the right to receive the Repurchase Price and, if the Repurchase Date falls between a Regular Record Date and the
corresponding Installment Payment Date, the related Installment Payment). 
 (c) In connection with any repurchase offer pursuant to this
Article 11, the Company shall, if required, comply with the provisions of the tender offer rules under the Exchange Act that may then be applicable. 

(d) Notwithstanding anything to the contrary herein, no Notes may be repurchased at the option of Holders if the principal amount thereof has
been accelerated, and such acceleration has not been rescinded, on or prior to the Repurchase Date (except in the case of an acceleration resulting from a default by the Company of the payment of the Repurchase Price with respect to such Notes).

 Section 11.06.    No Sinking Fund. The Notes are not entitled to the benefit of any sinking fund.

 ARTICLE 12 
 TAX TREATMENT

 Section 12.01.    Tax Treatment. The Company and each Beneficial Holder agree, for United States federal
income tax purposes, to treat the Notes as indebtedness of the Company. 

  
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 ARTICLE 13 

MISCELLANEOUS 

Section 13.01.    Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or
conflicts with a provision of the Trust Indenture Act that is required under such Act to be a part of and govern this Supplemental Indenture, the latter provision shall control. If any provision of this Supplemental Indenture modifies or excludes
any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to this Supplemental Indenture as so modified or to be excluded, as the case may be. Wherever this Supplemental Indenture
refers to a provision of the Trust Indenture Act, such provision is incorporated by reference in and made a part of this Supplemental Indenture. 

Section 13.02.    Effect of Headings and Table of Contents. The Article and Section headings herein and the
Table of Contents are for convenience only and shall not affect the construction hereof. 
 Section
13.03.    Successors and Assigns. All covenants and agreements in this Supplemental Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 

Section 13.04.    Separability. In case any provision in this Supplemental Indenture or in the Notes
shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 13.05.    Benefits of Supplemental Indenture. Nothing in this Supplemental Indenture or in the
Notes, express or implied, shall give to any Persons, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Supplemental Indenture. 

Section 13.06.    Governing Law and Jury Trial Waiver. (a) THIS SUPPLEMENTAL INDENTURE AND THE NOTES
AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED THERETO SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH OF THE COMPANY AND THE TRUSTEE, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE OR THE SECURITIES. 

Section 13.07.    Ratification of Indenture. The Indenture, as supplemented by this Supplemental Indenture, is
in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided. The provisions of this Supplemental Indenture shall, subject to the terms
hereof, supersede the provisions of the Base Indenture to the extent the Base Indenture is inconsistent herewith. 
 This instrument may be
executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

[Remainder of the page intentionally left blank] 

  
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 SIGNATURES 

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the date first above written.

  

			
	CHANGE HEALTHCARE INC., as 
the Company
		
	By:	 	 /s/ Loretta A. Cecil

		 	Name: Loretta A. Cecil
		 	 Title: Executive Vice President, General Counsel

  

			
	U.S. BANK N.A., as 
Trustee
		
	 By:
	 	 /s/ Beverly A. Freeney

		 	 Name: Beverly A. Freeney

		 	 Title: Vice President

  

  

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 EXHIBIT A 

[FORM OF FACE OF NOTE] 
 [THIS NOTE IS A GLOBAL
NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY (THE “DEPOSITARY”) TO A NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 

 

	*	 Include only if a Global Note. 

  
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 CHANGE HEALTHCARE INC. 

5.50% SENIOR AMORTIZING NOTES DUE 2022 
 CUSIP
No.: 15912K 308 
 ISIN No.: US15912K3086 
 No. [ ] [Initial]*
Number of Notes: [ ] 
 CHANGE HEALTHCARE INC., a Delaware corporation (the “Company”, which term includes any successor under the
Indenture hereinafter referred to), for value received, hereby promises to pay to [CEDE & CO., as nominee of The Depository Trust Company]* [ ] **, or registered assigns (the “Holder”), the initial principal amount of
$8.2378 for each of the number of Notes set forth above[, which number of Notes may from time to time be reduced or increased as set forth in Schedule A hereto, as appropriate, in accordance with the terms of the Indenture]*, in equal quarterly
installments (except for the first such payment) (each such payment, an “Installment Payment”), constituting a payment of interest (at a rate of 5.50% per annum) and a partial repayment of principal, payable on each March 30,
June 30, September 30 and December 30, commencing on September 30, 2019 (each such date, an “Installment Payment Date”, and the period from, and including, July 1, 2019 to, but excluding, the first
Installment Payment Date and thereafter each quarterly period from, and including, the immediately preceding Installment Payment Date to, but excluding, the relevant Installment Payment Date, an “Installment Payment Period”) with
the final Installment Payment due and payable on June 30, 2022, all as set forth on the reverse hereof and in the Indenture referred to on the reverse hereof. To the extent that payment of interest shall be legally enforceable, interest shall
accrue and be payable on any overdue Installment Payments or principal at a rate of 5.50% per annum. 
 Each Installment Payment for any Installment Payment
Period shall be computed on the basis of a 360-day year of twelve 30-day months. If an Installment Payment is payable for any period shorter or longer than a full
Installment Payment Period, such Installment Payment shall be computed on the basis of the actual number of days elapsed per 30-day month. Furthermore, if any date on which an Installment Payment is payable is
not a Business Day, then payment of the Installment Payment on such date shall be made on the next succeeding day that is a Business Day, and without any interest or other payment in respect of any such delay. Installment Payments shall be paid to
the Person in whose name the Note is registered, with limited exceptions as provided in the Indenture, at the close of business on March 15, June 15, September 15 or December 15 immediately preceding the relevant Installment
Payment Date, as applicable (each, a “Regular Record Date”). Installment Payments shall be payable (x) in the case of any Certificated Note, at the office or agency of the Company maintained for that purpose in the Borough of
Manhattan, The City of New York; provided, however, that payment of Installment Payments may be made at the option of the Company by check mailed to the registered Holder at such address as shall appear in the Security Register or
(y) in the case of any Global Note, by wire transfer in immediately available funds to the account of the Depositary or its nominee or otherwise in accordance with applicable procedures of the Depositary. 

This Note shall not be entitled to any benefit under the Indenture hereinafter referred to or be valid or obligatory for any purpose until the Certificate of
Authentication shall have been manually signed by or on behalf of the Trustee. 
  

	*	 Include only if a Global Note. 

	**	 Include only if not a Global Note. 

  
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 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
 [SIGNATURES ON THE FOLLOWING PAGE] 

  
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 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated:  
  

			
	 CHANGE HEALTHCARE INC., 

		
	 By:
	 	  

		 	Name:
		 	Title:

 CERTIFICATE OF AUTHENTICATION 
  

			
	U.S. Bank N.A., as Trustee, certifies that this is one of the Securities of the series designated herein referred to in the within mentioned Indenture.
		
	Dated:	 	
	
	U.S. BANK N.A., as 
Trustee

  

			
	 By:
	 	  

		 	Authorized Signatory

  
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 [REVERSE OF NOTE] 

CHANGE HEALTHCARE INC. 
 5.50%
Senior Amortizing Notes due 2022 
 This Note is one of a duly authorized series of Securities of the Company designated as its 5.50% Senior Amortizing
Notes due 2022 (herein sometimes referred to as the “Notes”), issued under the Indenture, dated as of July 1, 2019, between the Company and U.S. Bank N.A., as trustee (the “Trustee,” which term includes any
successor trustee under the Indenture) (including any provisions of the Trust Indenture Act that are deemed incorporated therein) (the “Base Indenture”), as supplemented by the First Supplemental Indenture, dated as of July 1,
2019 (the “First Supplemental Indenture”), between the Company and the Trustee (the Base Indenture, as supplemented by the First Supplemental Indenture, the “Indenture”), to which Indenture reference is hereby made
for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders. The terms of other series of Securities issued under the Base Indenture may vary with respect to
interest rates, issue dates, maturity, redemption, repayment, currency of payment and otherwise as provided in the Base Indenture. The Base Indenture further provides that securities of a single series may be issued at various times, with different
maturity dates and may bear interest at different rates. This series of Securities is limited in aggregate initial principal amount as specified in the First Supplemental Indenture. 

Each Installment Payment shall constitute a payment of interest (at a rate of 5.50% per annum) and a partial repayment of principal on the Notes, allocated
with respect to each Note as set forth in the schedule below: 
  

									
	 Scheduled Installment Payment Date
	  	Amount of
Principal	 	  	Amount of
Interest	 
	 September 30, 2019
	  	$	  0.6297	 	  	$	  0.1120	 
	 December 30, 2019
	  	$	0.6454	 	  	$	0.1046	 
	 March 30, 2020
	  	$	0.6543	 	  	$	0.0957	 
	 June 30, 2020
	  	$	0.6633	 	  	$	0.0867	 
	 September 30, 2020
	  	$	0.6724	 	  	$	0.0776	 
	 December 30, 2020
	  	$	0.6816	 	  	$	0.0684	 
	 March 30, 2021
	  	$	0.6910	 	  	$	0.0590	 
	 June 30, 2021
	  	$	0.7005	 	  	$	0.0495	 
	 September 30, 2021
	  	$	0.7101	 	  	$	0.0399	 
	 December 30, 2021
	  	$	0.7199	 	  	$	0.0301	 
	 March 30, 2022
	  	$	0.7298	 	  	$	0.0202	 
	 June 30, 2022
	  	$	0.7398	 	  	$	0.0102	 

 Any Installment Payment on any Note which is payable, but is not punctually paid or duly provided for, on any Installment
Payment Date (herein called “Defaulted Installment Payment”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Installment Payment may be
paid by the Company, at its election in each case, as provided in Clause (1) or (2) below: 
 (1) The Company may elect to make payment
of any Defaulted Installment Payment to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on a Special Record Date for the payment of such Defaulted Installment Payment, which shall
be 

  
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fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Installment Payment proposed to be paid on each Note and the date of the proposed
payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Installment Payment or shall make arrangements satisfactory to the Trustee for
such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Installment Payment as in this Clause provided. Thereupon the Trustee shall fix a Special
Record Date for the payment of such Defaulted Installment Payment which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of
the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Installment Payment and the Special
Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Notes at his address as it appears in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted
Installment Payment and the Special Record Date therefor having been so mailed, such Defaulted Installment Payment shall be paid to the Persons in whose names the Notes (or their respective Predecessor Securities) are registered at the close of
business on such Special Record Date and shall no longer be payable pursuant to the following Clause (2). 
 (2) The Company may make
payment of any Defaulted Installment Payment on the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Notes may be listed, and upon such notice as may be required by such exchange, if,
after notice given by the Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 

The Notes shall not be subject to redemption at the option of the Company. However, a Holder shall have the right to require the Company to repurchase some or
all of its Notes for cash at the Repurchase Price per Note and on the Repurchase Date, upon the occurrence of certain events and subject to the conditions set forth in the Indenture. 

This Note is not entitled to the benefit of any sinking fund. The Indenture contains provisions for satisfaction and discharge, legal defeasance and covenant
defeasance of this Note upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 
 If an Event of
Default with respect to the Notes shall occur and be continuing, then either the Trustee or the Holders of not less than 25% in principal amount of the Notes then outstanding may declare the Repurchase Price and all Installment Payments on this
Note, to be due and payable immediately, in the manner, subject to the conditions and with the effect provided in the Indenture. 
 The Indenture permits,
with certain exceptions as therein provided, the Company and the Trustee, with the consent of the Holders of not less than a majority in principal amount of the Notes at the time outstanding, to execute supplemental indentures for certain purposes
as described therein. 
 No provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and
unconditional, to pay the Repurchase Price, if applicable, of and all Installment Payments on this Note at the time, place and rate, and in the coin or currency, herein and in the Indenture prescribed. 

The Notes are originally being issued as part of the 6.00% Tangible Equity Units (the “Units”) issued by the Company pursuant to that certain
Purchase Contract Agreement, dated as of July 1, 2019, between the Company and U.S. Bank N.A., as Purchase Contract Agent, as Trustee and as attorney-in-fact for
the holders of Equity-Linked Securities from time to time (the “Purchase Contract Agreement”). Holders 

  
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of the Units have the right to separate such Units into their constituent parts, consisting of Separate Purchase Contracts (as defined in the Purchase Contract Agreement) and Separate Notes,
during the times, and under the circumstances, described in the Purchase Contract Agreement. Following separation of any Unit into its constituent Separate Note and Separate Purchase Contract, the Separate Notes are transferable independently from
the Separate Purchase Contracts. In addition, Separate Notes can be recombined with Separate Purchase Contracts to recreate Units, as provided for in the Purchase Contract Agreement. Reference is hereby made to the Purchase Contract Agreement for a
more complete description of the terms thereof applicable to the Units. 
 As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Note shall be registered on the Security Register of the Company, upon due presentation of this Note for registration of transfer at the office or agency of the Company in the Borough of Manhattan, The City of New York,
duly endorsed by, or accompanied by a written instrument or instruments of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon the Company
shall execute and the Trustee shall authenticate and deliver in the name of the transferee or transferees a new Note or Notes in authorized denominations and for a like aggregate principal amount. 

The Notes are initially issued in registered, global form without coupons in denominations equal to $8.2378 initial principal amount and integral multiples in
excess thereof. 
 The Company or Trustee may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
connection with any registration of transfer of this Note. No service charge shall be made for any such transfer or for any exchange of this Note as contemplated by the Indenture. 

The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Person in whose name this Note is registered upon the Security
Register for the Notes as the absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Registrar) for the purpose of receiving payment of or
on account of the principal of and, subject to the provisions of the Indenture, interest on this Note and for all other purposes; and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice to
the contrary. 
 This Note and the Indenture and any claim, controversy or dispute arising under or related thereto shall be governed by and construed in
accordance with the laws of the State of New York. 
 Capitalized terms used but not defined in this Note shall have the meanings ascribed to such terms
in the Indenture. 
 No recourse shall be had for the payment of any Installment Payment on this Note, or for any claim based hereon, or upon any
obligation, covenant or agreement of the Company in the Indenture, against any incorporator, stockholder, officer or director, past, present or future of the Company or of any predecessor or successor, either directly or through the Company or any
predecessor or successor, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment of penalty or otherwise; and all such personal liability is expressly released and waived as a condition of, and as part
of the consideration for, the issuance of this Note. 
 The Company and each Beneficial Holder agrees, for United States federal income tax purposes, to
treat the Notes as indebtedness of the Company. 

  
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 In the event of any inconsistency between the provisions of this Note and the provisions of the Indenture,
the Indenture shall prevail. 

  
 A-8 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to: 

(Insert assignee’s social security or tax identification number) 

(Insert address and zip code of assignee) 
 and irrevocably
appoints 
 agent to transfer this Note on the books of the Company. The agent may substitute another to act for him or her. 

 

							
	Date:	 		 		 	Signature:
				
		 		 		 	Signature Guarantee:

 (Sign exactly as your name appears on the other side of this Note) 

  
 A-9 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 SIGNATURE GUARANTEE 

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include
membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in
accordance with the Securities Exchange Act of 1934, as amended. 
  

			
	By:	 	  

		 	Name:
		 	Title:

  

			
	By:	 	  

		 	Name:
		 	Title:

 Attest 
  

			
	By:	 	  

		 	Name:
		 	Title:

  
 A-10 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 FORM OF REPURCHASE NOTICE 

TO:    CHANGE HEALTHCARE INC. 
 U.S. BANK
N.A., as Trustee 
 The undersigned registered Holder hereby irrevocably acknowledges receipt of a notice from Change Healthcare Inc. (the
“Company”) regarding the right of Holders to elect to require the Company to repurchase the Notes and requests and instructs the Company to pay, for each Note designated below, the Repurchase Price for such Notes (determined as set
forth in the Indenture), in accordance with the terms of the Indenture and the Notes, to the registered holder hereof. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture. The Notes shall be
repurchased by the Company as of the Repurchase Date pursuant to the terms and conditions specified in the Indenture. 
 Dated:  

 

	
	  

	Signature

 NOTICE: The above signature of the Holder hereof must correspond with the name as written upon the face of the Notes in
every particular without alteration or enlargement or any change whatever. 
 Notes Certificate Number (if applicable):
                                     

Number of Notes to be repurchased (if less than all, must be one Note or integral multiples in excess thereof):
                                     

Social Security or Other Taxpayer Identification Number:
                                     

  
 A-11 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 SCHEDULE A 

[SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE]* 

The initial number of Notes evidenced by this Global Note is     . The following increases or decreases in this Global Note have been
made: 
  

									
	 Date
	 	
Amount of
decrease in
number of Notes
evidenced hereby
	 	
Amount of
increase in number
of Notes evidenced
hereby
	  	
Number of Notes
evidenced hereby
following such
decrease (or
increase)
	  	
Signature of
authorized officer
of Trustee

		 		 		  		  	

  

	*	 Include only if a Global Note. 

  
 A-12

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