Document:

Document

Exhibit 10.1
Execution Version

ALTISOURCE S.À R.L.

CREDIT AGREEMENT

Dated as of June 22, 2021
with

STS MASTER FUND, LTD.

____________________________________________________________
____________________________________________________________

        TABLE OF CONTENTS
Page
						
	1.    Definitions; Certain Rules of Construction.
	1

	2.    Revolving Credit Facility.
	4

	2.1.    Revolving Loan.
	4

	2.2.    Borrowing Requests.
	4

	2.3.    Note.
	4

	3.    Interest; Commitment Fees, etc.
	4

	3.1.    Interest.
	4

	3.2.    Fees.
	4

	3.2.1.    Yield Enhancement Fee
	5

	3.2.2.    Commitment Fee
	5

	3.3.    Computations of Interest.
	5

	4.    Principal Repayment.
	5

	4.1.    Payment at Maturity.
	5

	4.2.    Contingent Required Prepayment.
	5

	4.3.    Voluntary Prepayments of Loan.
	5

	4.4.    Reborrowing.
	5

	5.    Conditions to Extending Credit.
	5

	5.1.    Officer's Certificate.
	6

	5.2.    Note.
	6

	5.3.    Pledge Agreement.
	6

	5.4.    Perfection of Security.
	6

	5.5.    Proper Proceedings.
	6

	5.6.    Legality, etc.
	6

	5.7.    General.
	6

	6.    Representations and Warranties.
	7

	6.1.    Organization and Business.
	7

	6.2.    Financial Statements and Other Information.
	7

	6.3.    Changes in Condition.
	7

	6.4.    Litigation.
	7

	6.5.    No Legal Obstacle to Agreements.
	7

	6.6.    Taxes.
	8

	7.    General Covenants.
	8

	7.1.    Use of Proceeds.
	8

	7.2.    Payment of Taxes and Other Amounts.
	8

	7.3.    Compliance with Laws.
	8

	7.4.    Insurance.
	8

	7.4.1.    Property Insurance.
	9

	7.4.2.    Liability Insurance.
	9

	7.5.    Financial Statements and Reports.
	9

	7.5.1.    Annual Reports.
	9

ii

						
	7.5.2.    Quarterly Reports.
	9

	7.5.3.    Notice of Defaults, Material Adverse Change.
	10

	7.5.4.    Other Information.
	10

	8.    Defaults.
	10

	8.1.    Events of Default.
	10

	8.1.1.    Payment.
	10

	8.1.2.    Covenant Compliance.
	10

	8.1.3.    Representations and Warranties.
	10

	8.1.4.    Cross-Default.
	10

	8.1.5.    Judgments.
	11

	8.1.6.    Change in Control.
	11

	8.1.7.    Bankruptcy.
	11

	8.2.    Certain Actions Following an Event of Default.
	11

	8.2.1.    No Obligation to Extend Credit; Acceleration.
	11

	8.2.2.    Exercise of Rights.
	12

	8.2.3.    Bankruptcy Default.
	12

	8.2.4.    Setoff.
	12

	8.2.5.    Cumulative Remedies.
	12

	8.3.    Waivers.
	12

	9.    Expenses; Indemnity.
	12

	9.1.    Expenses.
	12

	9.2.    General Indemnity.
	13

	10.    Successors and Assigns.
	13

	11.    Notices.
	13

	12.    Course of Dealing, Amendments and Waivers.
	14

	13.    Venue; Service of Process; Certain Waivers.
	14

	14.    General.
	15

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EXHIBITS
2    -    Note
5.1    -    Officer's Certificate
5.3    -    Pledge Agreement

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ALTISOURCE S.À R.L. 
CREDIT AGREEMENT
This Agreement, dated as of June 22, 2021, is between ALTISOURCE S.À R.L., a private limited liability company (société à responsabilité limitée) organized and established under the laws of the Grand Duchy of Luxembourg, having its registered office at 40, Avenue Monterey, L-2163, Luxembourg, Grand Duchy of Luxembourg, registered with the Luxembourg Trade and Companies register (Registre de commerce et des sociétés, Luxembourg) under number B-189519 (the “Borrower”), and STS Master Fund, Ltd. (the “Lender”).  The parties agree as follows:
1.Definitions; Certain Rules of Construction.   Except as the context otherwise explicitly requires, (a) the capitalized term “Section” refers to sections of this Agreement, (b) the capitalized term “Exhibit” refers to exhibits to this Agreement, (c) references to “$” and “Dollars” are to United States dollars, (d) the word “including” shall be construed as “including without limitation”, (e) accounting terms not otherwise defined herein have the meaning provided under GAAP, (f) references to a particular statute or regulation include all rules and regulations thereunder and any successor statute, regulation or rules, in each case as from time to time in effect, and (g) references to a particular Person include such Person's successors and assigns to the extent not prohibited by this Agreement and the other Credit Documents.  References to “the date hereof” mean the date first set forth above.
“Affiliate” means a Person controlling, controlled by or under common control with the Borrower.
“Bankruptcy Code” means Title 11 of the United States Code (or any successor statute). 
“Borrower” is defined in the preamble to this Agreement.
“Business Day” means any day (other than Saturday or Sunday) on which banks are open to conduct business in New York, New York.
“Change of Control” means (a) any Person or “group” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act) (other than (i) William C. Erbey, his estate, spouse, lineal descendants, legatees, legal representatives (in their capacities as such) or the trustee (in its capacity as such) of a bona fide trust of which one or more of the foregoing are the principal beneficiaries or grantors thereof,(ii) STS Master Fund, Ltd. and its Affiliates or (iii) any entity controlled, directly or indirectly, by any Persons referred to in the preceding clauses (i) or (ii) whether through the ownership of voting securities, by contract or otherwise) shall have acquired beneficial ownership or control of 50.0% or more on a fully diluted basis of the voting and/or economic interest in the equity interests of Holdings; (b) a majority of the seats on the board of directors (or similar governing body) of Holdings shall be occupied by Persons other than (i) directors on the date of this Agreement, (ii) directors whose election or nomination was approved 
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by individuals referred to in clause (i) of this clause (b) constituting at the time of such election or nomination at least a majority of the board of directors (or similar governing body) of Holdings or (iii) directors whose election or nomination was approved by individuals referred to in clauses (i) or (ii) of this clause (b) constituting at the time of such election or nomination at least a majority of the board of directors (or similar governing body) of Holdings; or (c) Holdings fails to own and control, directly or indirectly, 100% of the equity interests of the Borrower.
“Closing Date” means the date on which any extension of credit is made pursuant to Section 2.
“Credit Documents” means:
(a)this Agreement, the Pledge Agreement and the Note, each as from time to time in effect; and
(b)any other present or future agreement or instrument from time to time entered into by the Lender, on one hand, and the Borrower on the other hand, relating to, amending or modifying this Agreement or any other Credit Document referred to above or which is stated to be a Credit Document, each as from time to time in effect.
“Credit Obligations” means all present and future liabilities, obligations and Indebtedness of the Borrower under or in connection with this Agreement, the Note or any other Credit Document, including obligations in respect of principal, interest, amounts provided for in Section 3.2 and other fees, charges, indemnitees and expenses from time to time owing hereunder or under any other Credit Document.
“Credit Party” means the Borrower, Holdings, the Pledgor and each other Person party to a Credit Document and obligated with respect to a Credit Obligation owing to the Lender.
“Default” means any Event of Default and any event or condition which with the passage of time or giving of notice, or both, would become an Event of Default.
“Event of Default” is defined in Section 8.1.
“Exchange Act” means the Securities Exchange Act of 1934.
“Final Maturity Date” means June 22, 2024, or such other date as may be agreed by the Borrower and the Lender.
“GAAP” means generally accepted accounting principles as from time to time in effect, including the statements and interpretations of the United States Financial Accounting Standards Board, consistently followed.
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“Holdings” means Altisource Portfolio Solutions S.A., a public limited liability company (société anonyme) organized and established under the laws of the Grand Duchy of Luxembourg, having its registered office at 40, Avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Companies register (Registre de commerce et des sociétés, Luxembourg) under number B-72391. 
“Indemnified Party” is defined in Section 9.2.
“Lender” has the meaning specified in the preamble to this Agreement.
“Loan” is defined in Section 2.4.
“Margin Stock” means “margin stock” within the meaning of Regulations T, U or X of the Board of Governors of the Federal Reserve System.
“Material Adverse Change” means a material adverse change in the business, operations, assets, financial condition, or income of Holdings and its Subsidiaries on a consolidated basis.
“Maximum Amount of Credit” means, on any date, the lesser of (a) (i) from the initial Closing Date through June 22, 2022, $20,000,0000, (ii) from June 23, 2022 through June 22, 2023, $15,000,0000 and (iii) from June 22, 2023 to the Final Maturity Date, $10,000,000, in each case, or such other amount as may be agreed by the Borrower and the Lender, and (b) the amount (in an integral multiple of $10,000) to which the then applicable amount set forth in clause (a) above shall have been irrevocably reduced from time to time by notice from the Borrower to the Lender.

“Note” is defined in Section 2.4.
“Payment Date” means the last Business Day of each March, June, September and December; provided that the first Payment Date shall be September 30, 2021.
“Person” means any present or future natural person or any corporation, association, partnership, joint venture, limited liability company, business trust, trust, organization, business, individual or government or any governmental agency or political subdivision thereof.
“Pledge Agreement” is defined in Section 5.3.
“Pledgor” means Altisource Asia Holdings Ltd I, a company organized under the laws of Mauritius.
“Repricing Transaction”  means the prepayment or refinancing of all or a portion of the Loan (accompanied by a corresponding reduction in the Maximum Amount of Credit) with the incurrence by the Borrower of any debt financing having an effective interest cost or weighted average yield (with the comparative determinations to be made by the Lender consistent with generally accepted financial practices, after giving effect to, among other factors, margin, interest 
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rate floors, upfront or similar fee or “original issue discount” shared with all lenders of such loans, but excluding the effect of any arrangement, structuring, syndication or other fees payable in connection therewith that are not shared with all lenders of such loan) that is less than the interest rate for or weighted average yield (as determined by the Lender on the same basis) of the Loan. 
“SEC” means the Securities and Exchange Commission or any successor thereto.
“Subsidiary” means any Person of which the Borrower (or other specified Person) shall at the time, directly or indirectly through one or more of its Subsidiaries, (a) own more than 50% of the outstanding capital stock (or other shares of beneficial interest) entitled to vote generally, (b) hold more than 50% of the partnership, joint venture or similar interests or (c) be a general partner or joint venturer.
2.Revolving Credit Facility.
2.1    Revolving Loan. Subject to all the terms and conditions of this Agreement and so long as no Default exists, from time to time on and after the initial Closing Date and prior to the Final Maturity Date the Lender will make loans to the Borrower in such amounts as may be requested by the Borrower in accordance with Section 2.2.  The sum of the aggregate principal amount of loans made under this Section 2.1 at any one time outstanding shall in no event exceed the Maximum Amount of Credit then in effect.
2.2    Borrowing Requests.The Borrower may from time to time request a loan under Section 2.1 by providing to the Lender a notice (which may be given by a telephone call and promptly confirmed in writing) not later than noon (New York time) on the third Business Day prior to the requested Closing Date.  The notice must specify the amount of the requested revolving loan (which shall be not less than $500,000 and an integral multiple of $25,000 in excess thereof) and be in substantially the form of Exhibit 5.1.  Each such loan will be made by wiring the amount thereof to the account specified by the Borrower in such notice.
2.3    Note. The aggregate principal amount of the loans outstanding from time to time under this Section 2.1 is referred to as the “Loan”.  The Lender shall keep a record of the Loan.  The Borrower's obligations to pay the Loan shall be evidenced by the Borrower's note in substantially the form of Exhibit 2 (the “Note”), payable to the Lender.

3.Interest; Fees, etc.
3.1    Interest.   The Loan shall accrue and bear interest at a rate of 9% per annum.  The Borrower will pay the accrued and unpaid interest on the Loan on each Payment Date and on any stated or accelerated maturity of the Loan.  Notwithstanding the foregoing, if any principal or interest on any Loan or any fees or other amount payable by the Borrower hereunder is not paid 
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when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall, after notice by the Lender to the Borrower, bear interest at a rate of 11% per annum.
3.2    Fees.  
3.2.1    Yield Enhancement Fee On the initial Closing Date, the Borrower shall pay to the Lender an upfront yield enhancement fee equal to 2.5% of the Maximum Amount of Credit on the day immediately preceding such initial Closing Date.

3.2.2    Commitment Fee  In consideration of the Lender's commitments to make the extensions of credit provided for in Section 2, while such commitments are outstanding, the Borrower will pay to the Lender, on each Payment Date and on the Final Maturity Date, an amount equal to interest computed at a per annum rate equal to 0.50% on the amount by which (a) the average daily Maximum Amount of Credit during the three-month period or portion thereof ending on such Payment Date exceeded (b) the average daily Loan during such period or portion thereof; provided, however, that the first such payment shall be for the period beginning on the initial Closing Date and ending on the first Payment Date.
3.3    Computations of Interest. For purposes of this Agreement, interest (and any amount expressed as interest) shall be computed on the basis of a 365/366-day year. 
4.Principal Repayment.
4.1    Payment at Maturity.  On the Final Maturity Date, the Borrower will pay to the Lender an amount equal to the Loan, together with all accrued and unpaid interest thereon and all other Credit Obligations then outstanding.
4.2    Contingent Required Prepayment.  If at any time the Loan exceeds the limits set forth in Section 2.1, the Borrower shall within three Business Days after notice from the Lender pay the amount of such excess to the Lender as a prepayment of the Loan. 
4.3    Voluntary Prepayments of Loan.  (a) The Borrower may from time to time prepay all or any portion of the Loan (in a minimum amount of $100,000 and an integral multiple of $1,000), without premium except as described in clause (b) of this Section 4.3. (b) At the time of any prepayment of the Loan (with a corresponding reduction of the Maximum Amount of Credit) in connection with any Repricing Transaction that is consummated (i) prior to the first anniversary of the initial Closing Date, the Borrower shall pay to the Lender a fee in an amount equal to 2% of the amount of the Loan being prepaid (with a corresponding reduction of the Maximum Amount of Credit) and (ii) after the first anniversary of the initial Closing Date but prior to the second anniversary of the initial Closing Date, the Borrower shall pay to the Lender a fee in an amount equal to 1% of the amount of the Loan being prepaid (with a corresponding reduction of the Maximum Amount of Credit).  
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4.4    Reborrowing.   The amounts of the Loan prepaid may be reborrowed in accordance with Section 2, subject to the limitations thereof.
5.Conditions to Extending Credit.   The obligation of the Lender to make any extension of credit pursuant to Section 2 shall be subject to the satisfaction, on or before the Closing Date therefor, of the following conditions:
5.1    Officer's Certificate.   The representations and warranties contained in Section 6 shall be true and correct in all material respects on and as of the Closing Date with the same force and effect as though originally made on and as of such date; no Default shall exist on the Closing Date prior to or immediately after giving effect to the requested extension of credit; and the Borrower shall have furnished to the Lender on the Closing Date a certificate to these effects, in substantially the form of Exhibit 5.1.
5.2   Note.   On the initial Closing Date the Borrower shall have executed the Note and delivered it to the Lender.
5.3   Pledge Agreement.    On the Initial Closing Date the Pledgor shall have duly authorized, executed and delivered to the Lender a Pledge Agreement with respect to all the outstanding equity interests in Altisource Business Solutions Private Limited, a company organized under the laws of India, in substantially the form of Exhibit 5.3 (the “Pledge Agreement”).
5.4   Perfection of Security.   The Pledgor shall have duly authorized, executed, acknowledged, delivered, filed, registered and recorded such notices, financing statements and other instruments as the Lender may have reasonably requested in order to perfect the liens purported or required pursuant to the Credit Documents to be created in the Credit Security and shall have paid all filing or recording fees or taxes required to be paid in connection therewith, including any recording, documentary, transfer or intangible taxes.
5.5   Proper Proceedings.   This Agreement, each other Credit Document and the transactions contemplated hereby and thereby shall have been authorized by all necessary proceedings of the Credit Parties.  All necessary consents, approvals and authorizations of any governmental or administrative agency or any other Person with respect to any of the transactions contemplated hereby or by any other Credit Document shall have been obtained and shall be in full force and effect.
5.6   Legality, etc.   The making of the requested extension of credit shall not (a) subject the Lender to any penalty or special tax or (b) be prohibited by any law or governmental order or regulation applicable to the Lender.
5.7   General.   All instruments, and legal and corporate proceedings, in connection with the transactions contemplated by this Agreement and each other Credit Document shall be reasonably satisfactory in form and substance to the Lender, and the Lender shall have received 
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copies of all documents, including records of corporate proceedings, which the Lender may have reasonably requested in connection therewith, such documents where appropriate to be certified by proper corporate or governmental authorities.
6.Representations and Warranties.   In order to induce the Lender to extend credit to the Borrower hereunder, the Borrower represents and warrants that:
6.1   Organization and Business.   Each Credit Party is duly organized, validly existing and, to the extent applicable, in good standing under the laws of its jurisdiction of organization, with all power and authority necessary (a) to enter into and perform this Agreement and each other Credit Document to which it is party, and (b) to own its properties and carry on the business now conducted or proposed to be conducted by it.  Each Credit Party has taken all action required to execute, deliver and perform this Agreement and each other Credit Document to which it is party.  Copies of the organizational documents of each Credit Party have been previously delivered to the Lender and are correct and complete.  
6.2   Financial Statements and Other Information.   The Borrower has previously furnished to the Lender copies (or such copy is available to the Lender through public filings with the SEC) of (a) the consolidated balance sheet of Holdings and its Subsidiaries as of December 31, 2020, and the related consolidated statement of earnings, stockholders' equity and cash flows for the fiscal years of Holdings then ended, accompanied by the review of the Holdings' accountants and (b) the consolidated balance sheet of Holdings and its Subsidiaries as of March 31, 2021 and the related statements of earnings and of cash flows for the fiscal quarter and portion of the fiscal year then ended.  The financial statements (including the notes thereto) referred to in the preceding sentence have been prepared in accordance with GAAP and fairly present in all material respects the financial condition of the Persons covered thereby at the dates thereof and the results of their operations for the periods covered thereby, subject to the case of interim statements only to normal year-end audit adjustments and the addition of footnotes.
6.3   Changes in Condition.   No Material Adverse Change has occurred since December 31, 2020.
6.4   Litigation.   No litigation, at law or in equity, or any proceeding before any federal, state, provincial or municipal court, board or other governmental or administrative agency or any arbitrator is pending or to the knowledge of the Borrower threatened which may reasonably involve any material risk of any final judgment or liability not adequately covered by insurance or which is otherwise reasonably likely to result in any Material Adverse Change.  Other than as disclosed in the financial statements, no judgment, decree, or order of any federal, state, provincial or municipal court, board or other governmental or administrative agency or arbitrator has been issued against Holdings or any of its Subsidiaries which has resulted, or creates a material risk of resulting, in any Material Adverse Change.
6.5   No Legal Obstacle to Agreements.   Neither the execution and delivery of this Agreement or any other Credit Document, nor the making of any borrowings hereunder, nor the 
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consummation of any transaction referred to in or contemplated by this Agreement or any other Credit Document, nor the fulfillment of the terms hereof or thereof or of any other agreement, instrument, deed or lease referred to in this Agreement or any other Credit Document, has constituted or resulted in or will constitute or result in:
(a)any breach or termination of the provisions of any agreement, instrument, deed or lease to which any Credit Party is a party or by which it is bound, or of the charter, by-laws or other organizational documents of any Credit Party;
(b)the violation of any law, statute, judgment, decree or governmental order, rule or regulation applicable to any Credit Party;
(c)the creation under any agreement, instrument, deed or lease of any lien upon any of the assets of any Credit Party (other than under the Credit Documents); or
(d)any redemption, retirement or other repurchase obligation of any Credit Party under any charter, bylaw, other organizational document, agreement, instrument, deed or lease.
No approval, authorization or other action by, or declaration to or filing with, any governmental or administrative authority or any other Person is required to be obtained or made by any Credit Party in connection with the execution, delivery and performance of this Agreement or any other Credit Document, the transactions contemplated hereby or thereby or the making of any borrowing by the Borrower hereunder.  
6.6   Taxes.   Each Credit Party has filed (or obtained extensions to file) required tax returns and paid taxes due except such taxes as are being contested in good faith and as to which adequate reserves have been set aside in conformity with GAAP.

7.General Covenants.  The Borrower covenants that, until all of the Credit Obligations shall have been paid in full and until the Lender's commitment to extend credit under this Agreement and any other Credit Document shall have been terminated, the Borrower will comply with the following provisions:
7.1   Use of Proceeds.  The proceeds of the extensions of credit hereunder shall be used only for general corporate purposes.
7.2   Payment of Taxes and Other Amounts.   The Borrower will pay (a) all taxes, assessments and governmental charges imposed upon it or upon its property and (b) all accounts payable in conformity with customary trade terms, in each case unless the validity or amount thereof is being contested in good faith by appropriate proceedings, and the Borrower has established adequate reserves in accordance with GAAP.  
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7.3   Compliance with Laws.   The Borrower will comply with all applicable laws, rules, regulations and orders, and duly observe all valid requirements of governmental authorities, except where failure so to comply would result, and would not create a material risk of resulting, in a Material Adverse Change.  The Borrower will not own any Margin Stock in a manner that would result in a violation of Regulations T, U or X of the Board of Governors of the Federal Reserve Board.
7.4   Insurance.
7.4.1    Property Insurance.   The Borrower shall keep, or cause to be kept, its assets which are of an insurable character insured by financially sound and reputable insurers against theft and fraud and against loss or damage by fire, explosion and hazards insured against by extended coverage to the extent, in amounts and with deductibles at least as favorable as those generally maintained by businesses of similar size engaged in similar activities.

7.4.2    Liability Insurance.   The Borrower shall maintain, or cause to be maintained, with financially sound and reputable insurers insurance against liability for hazards, risks and liability to persons and property to the extent, in amounts and with deductibles at least as favorable as those generally maintained by businesses of similar size engaged in similar activities; provided, however, that it may effect workers' compensation insurance or similar coverage with respect to operations in any particular state or other jurisdiction through an insurance fund operated by such state or jurisdiction or by meeting the self-insurance requirements of such state or jurisdiction.

7.5   Financial Statements and Reports.
7.5.1    Annual Reports.   The Borrower shall furnish to the Lender within five days after the date on which Holdings is required, under the Exchange Act, to file its Annual Report on Form 10-K with the SEC, commencing with the Fiscal Year in which the initial Closing Date occurs, the consolidated balance sheet of Holdings and its Subsidiaries as of the end of such fiscal year, the consolidated statements of income of changes in shareholders' equity and of cash flows of Holdings and its Subsidiaries for such fiscal year and comparative figures for the immediately preceding fiscal year, all accompanied by reports of independent certified public accountants of recognized national standing, containing no material qualification, to the effect that they have audited the foregoing financial statements in accordance with GAAP and that such financial statements present fairly, in all material respects, the financial position of Holdings and its Subsidiaries at the dates thereof and the results of its operations for the periods covered thereby in conformity with GAAP; provided that the filing by Holdings of its Annual Report on Form 10-K with the SEC within the time period described in this Section 7.5.1 accompanied by a report of independent accountants satisfying the requirements of this Section 7.5.1 shall satisfy the requirements of this Section 7.5.1.

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7.5.2    Quarterly Reports.   The Borrower shall furnish to the Lender, within five days after the date on which Holdings is required, under the Exchange Act , to file its Quarterly Report on Form 10-Q with the SEC, commencing with the Fiscal Quarter in which the initial Closing Date occurs, the internally prepared consolidated balance sheet of Holdings and its Subsidiaries as of the end of such fiscal quarter, the consolidated statements of income, of changes in shareholders' equity and of cash flows of Holdings and its Subsidiaries for such fiscal quarter and for the portion of the fiscal year then ended and comparative figures for the same period in the preceding fiscal year; provided that the filing by Holdings of its Quarterly Report on Form 10-Q with the SEC within the time period described in this Section 7.5.2 shall satisfy the requirements of this Section 7.5.2.

7.5.3    Notice of Defaults, Material Adverse Change.  Promptly upon acquiring knowledge thereof, the Borrower shall notify the Lenders of the existence of any Default or Material Adverse Change, specifying the nature thereof and what action the Borrower has taken, is taking or proposes to take with respect thereto.

7.5.4    Other Information.   From time to time at reasonable intervals upon written request of any authorized officer of the Lender, the Borrower shall furnish to the Lender such other information regarding the business, assets, financial condition, income or prospects of Holdings and its Subsidiaries as such officer may reasonably request, including copies of licenses, agreements, leases and instruments to which any Credit Party is party.  The Lender's authorized officers and representatives shall have the right during normal business hours upon reasonable notice and at reasonable intervals to examine the books and records of the Borrower for the purpose of ascertaining compliance with or obtaining enforcement of this Agreement or any other Credit Document.

8.Defaults.
8.1    Events of Default.   The following events (unless waived in writing by the Lender) are herein referred to as “Events of Default”:
8.1.1    Payment.   The Borrower shall fail to make any payment in respect of:  (a) interest or any fee on or in respect of any of the Credit Obligations owed by it as the same shall become due and payable, and such failure shall continue for a period of three Business Days, or (b) principal of any of the Credit Obligations owed by it as the same shall become due, whether at maturity or by acceleration or otherwise.

8.1.2    Covenant Compliance.   The Borrower shall fail to perform or observe any of the other material provisions of the Credit Documents required to be performed or complied with by it and such failure continues for a period of 10 days after written notice thereof is given by the Lender to the Borrower.
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8.1.3    Representations and Warranties.   Any written representation or warranty of or with respect to any Credit Party in, pursuant to or in connection with this Agreement or any other Credit Document, or in any certificate, notice, financial statement or other report furnished to the Lender in connection therewith, shall be materially false on the date as of which it was made.
8.1.4    Cross-Default.   A default shall exist under any instrument or agreement of any Credit Party under which indebtedness of $40,000,000 or more is outstanding and, by reason of such default, the holder or holders of such indebtedness would be permitted under the terms of such instrument or agreement to accelerate the maturity of such indebtedness.
8.1.5    Judgments.   A final judgment (a) which, with other outstanding final judgments against the Credit Parties, exceeds an aggregate of $40,000,000 in excess of applicable insurance coverage shall be rendered against Credit Party, or (b) which grants injunctive relief that results, or creates a material risk of resulting, in a Material Adverse Change and in either case if (i) within 60 days after entry thereof, such judgment shall not have been discharged or execution thereof stayed pending appeal or (ii) within 60 days after the expiration of any such stay, such judgment shall not have been discharged.
8.1.6    Change in Control.  A Change of Control occurs. 
8.1.7    Bankruptcy.   Any Credit Party shall:
(a)commence a voluntary case under the Bankruptcy Code or authorize, by appropriate proceedings of its board of directors or other governing body, the commencement of such a voluntary case;
(b)have filed against it a petition commencing an involuntary case under the Bankruptcy Code which shall not have been dismissed within 60 days after the date on which such petition is filed; or file an answer or other pleading within such 60day period admitting or failing to deny the material allegations of such a petition or seeking, consenting to or acquiescing in the relief therein provided;
(c)have entered against it an order for relief in any involuntary case commenced under the Bankruptcy Code;
(d)seek relief as a debtor under any applicable law, other than the Bankruptcy Code, of any jurisdiction relating to the liquidation or reorganization of debtors or to the modification or alteration of the rights of creditors, or consent to or acquiesce in such relief;
(e)have entered against it an order by a court of competent jurisdiction (i) finding it to be bankrupt or insolvent, (ii) ordering or approving its liquidation, reorganization or any modification or alteration of the rights of its creditors or 
- 11 -

(iii) assuming custody of, or appointing a receiver or other custodian for, all or a substantial portion of its property; or 
(f)make an assignment for the benefit of, or enter into a composition with, its creditors, or appoint, or consent to the appointment of, or suffer to exist a receiver or other custodian for, all or a substantial portion of its property.
8.2    Certain Actions Following an Event of Default.   If any one or more Events of Default shall occur and be continuing, then in each and every such case:
8.2.1    No Obligation to Extend Credit; Acceleration.   Upon notice by the Lender to the Borrower, the obligations of the Lender to make any extension of credit hereunder shall automatically terminate and the Credit Obligations shall become immediately due and payable.
8.2.2    Exercise of Rights.   The Lender shall proceed to protect and enforce its rights by suit in equity, action at law and/or other appropriate proceeding, either for specific performance of any covenant or condition contained in this Agreement or any other Credit Document.
8.2.3    Bankruptcy Default.   Upon the occurrence of an Event of Default under Section 8.1.7, the unpaid balance of the Credit Obligations shall automatically become immediately due and payable.
8.2.4    Setoff.   The Lender may offset and apply toward the payment of such balance or part thereof (and/or toward the curing of any Event of Default) any indebtedness from the Lender to the Borrower or Holdings, regardless of the adequacy of any security for the Credit Obligations, and the Lender shall have no duty to determine the adequacy of any such security in connection with any such offset.
8.2.5    Cumulative Remedies.   To the extent not prohibited by applicable law which cannot be waived, all of the Lender's rights hereunder and under each other Credit Document shall be cumulative.
8.3   Waivers.   The Borrower hereby waives to the extent not prohibited by applicable law:
(a)all presentments, demands for performance, notices of nonperformance (except to the extent required by the provisions of this Agreement or any other Credit Document), protests, notices of protest and notices of dishonor;
(b)any requirement of diligence or promptness on the part of any Lender in the enforcement of its rights under this Agreement, the Note or any other Credit Document; and
- 12 -

(c)any and all notices of every kind and description which may be required to be given by any statute or rule of law.
9.Expenses; Indemnity.
9.1    Expenses.   The Borrower will pay:  (a) all reasonable and documented expenses of the Lender (including the reasonable documented fees and disbursements of counsel to the Lender) in connection with the preparation of this Agreement, the transactions contemplated hereby, and operations hereunder; (b)  all transfer and documentary stamp and similar taxes at any time payable in respect of this Agreement or the Loan; and (c) all other reasonable and documented expenses incurred by the Lender in connection with the enforcement of any rights hereunder or under any other Credit Document upon the occurrence and during the continuance of an Event of Default, including costs of collection and reasonable and documented attorneys' fees and expenses; provided, however, that notwithstanding the foregoing, the amount payable under clauses (a) and (b) of this Section 9.1 shall not exceed $50,000. 
9.2   General Indemnity.   The Borrower shall indemnify the Lender and each of the Lender's directors, officers, employees, agents, attorneys, accountants, consultants and each Person, if any, who controls the Lender (each Lender and each of such directors, officers, employees, agents, attorneys, accountants, consultants and control Persons is referred to as an “Indemnified Party”) and hold each of them harmless from and against any and all claims, damages, liabilities and reasonable expenses (including reasonable fees and disbursements of counsel with whom any Indemnified Party may consult in connection therewith and all reasonable expenses of litigation or preparation therefor) which any Indemnified Party may incur or which may be asserted against any Indemnified Party in connection with (a) the Indemnified Party's compliance with or contest of any subpoena or other process issued against it in any proceeding involving Holdings or any of its Subsidiaries or their Affiliates, (b) any litigation or investigation involving Holdings or any of its Subsidiaries or their Affiliates, or any officer, director or employee thereof, (c) the existence or exercise of any security rights with respect to the collateral under the Credit Documents, or (d) this Agreement, any other Credit Document or any transaction contemplated hereby or thereby; provided, however, that the foregoing indemnity shall not apply to litigation or arbitration proceeding commenced by the Borrower against the Lender which seeks enforcement of any of the rights of the Borrower hereunder or under any other Credit Document and is determined adversely to the Lender in a final nonappealable judgment or to the extent such claims, damages, liabilities and expenses result from an Indemnified Party's gross negligence, willful misconduct or bad faith as determined in a final nonappealable judgment.
10.Successors and Assigns.   Any reference in this Agreement to any of the parties hereto shall be deemed to include the successors and assigns of such party, and all covenants and agreements by or on behalf of the Borrower or the Lender that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns; provided, however, that the Borrower may not assign its rights or obligations under this Agreement under any circumstances and the Lender may assign its rights or obligations under this Agreement only as 
- 13 -

follows:  The Lender may from time to time grant participations in the Loan and Note, or assign all or part of the Loan and Note, upon such terms as the Lender may determine, to Affiliates of the Lender or, with the consent of the Borrower, which consent shall not be unreasonably withheld, to banks or financial institutions.
11.Notices.   Except as otherwise specified in this Agreement, any notice required to be given pursuant to this Agreement shall be given in writing (e-mail sufficing).  Any notice, demand or other communication in connection with this Agreement shall be deemed to be given if given in writing (including telex, telecopy (confirmed by telephone or writing) or similar teletransmission) addressed as provided below (or to the addressee at such other address as the addressee shall have specified by notice actually received by the addressor), and if either (a) actually delivered in fully legible form to such address (evidenced in the case of a telex by receipt of the correct answer back) or (b) in the case of a letter, five days shall have elapsed after the same shall have been deposited in the United States mails, with firstclass postage prepaid and registered or certified.
If to the Borrower, to it at the following address: 
Altisource S.à r.l.
40, avenue Monterey
Luxembourg City
Luxembourg L-2163
    Or to: Gregory.Ritts@altisource.lu
If to the Lender, to it at the following address:
C/O Deer Park Road Management Company, LP
1195 Bangtail Way
Steamboat Springs, CO 80487
Or to: Compliance@deerparkrd.com

12.Course of Dealing, Amendments and Waivers.   No course of dealing between the Lender and the Borrower or any Affiliate of the Borrower shall operate as a waiver of any of the Lender's rights under this Agreement or any other Credit Document or with respect to the Credit Obligations.  No delay or omission on the part of the Lender in exercising any right under this Agreement or any other Credit Document or with respect to the Credit Obligations shall operate as a waiver of such right or any other right hereunder or thereunder.  A waiver on any one occasion shall not be construed as a bar to or waiver of any right or remedy on any future 
- 14 -

occasion.  No waiver, consent or amendment with respect to this Agreement or any other Credit Document shall be binding unless it is in writing and signed by the Lender.
13.Arbitration.   Each of the Borrower and the Lender agrees that:
(a)Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.
(b)Claims shall be heard by a single arbitrator under the Expedited Procedures of the American Arbitration Association.
(c)The place of arbitration shall be New York, New York. The arbitration shall be governed by the laws of the State of New York.
(d)The arbitrator will have no authority to award punitive or other damages not measured by the prevailing party’s actual damages, except as may be required by statute. The arbitrator shall not award consequential damages in any arbitration initiated under this section.  The award of the arbitrator shall be accompanied by a reasoned opinion.
(e)Except as may be required by law, neither a party nor the arbitrator may disclose the existence, content, or results of any arbitration hereunder without the prior written consent of the Borrower and the Lender.
14.General.   All covenants, agreements, representations and warranties made in this Agreement or any other Credit Document or in certificates delivered pursuant hereto or thereto shall be deemed to have been material and relied on by the Lender, notwithstanding any investigation made by the Lender, and shall survive the execution and delivery to the Lender hereof and thereof.  The invalidity or unenforceability of any provision hereof shall not affect the validity or enforceability of any other provision hereof, and any invalid or unenforceable provision shall be modified so as to be enforced to the maximum extent of its validity or enforceability.  The headings in this Agreement are for convenience of reference only and shall not limit, alter or otherwise affect the meaning hereof.  This Agreement and the other Credit Documents constitute the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior and current understandings and agreements, whether written or oral.  This Agreement may be executed in any number of counterparts which together shall constitute one instrument.  This Agreement shall be governed by and construed in 
- 15 -

accordance with the laws of the State of New York.

[The Remainder Of This Page Is Intentionally Blank]

- 16 -

Each of the undersigned has caused this Agreement to be executed and delivered by its duly authorized officer as an agreement under seal as of the date first above written.
						
	Borrower:
	ALTISOURCE S.À R.L.

By ________________________________
Title:

		
	Lender: 
	STS MASTER FUND, LTD.

By _________________________________
Title:

[Signature Page to Credit Agreement]

EXHIBIT 2

NOTE
June 22, 2021
FOR VALUE RECEIVED, the undersigned, ALTISOURCE S.À R.L., a private limited liability company (société à responsabilité limitée) organized and established under the laws of the Grand Duchy of Luxembourg, having its registered office at 40, Avenue Monterey, L-2163, Luxembourg, Grand Duchy of Luxembourg, registered with the Luxembourg Trade and Companies register (Registre de commerce et des sociétés, Luxembourg) under number B-189519 (the “Borrower”), hereby promises to pay STS Master Fund, Ltd. (the “Lender”), on June 22, 2024 the lesser of Twenty Million Dollars ($20,000,000.00) or the aggregate unpaid principal amount of the loans made by the Lender to the Borrower pursuant to the Credit Agreement referred to below.  The Borrower promises to pay interest from the date hereof, computed as provided in such Credit Agreement, on the aggregate principal amount of such loans from time to time unpaid at the per annum rate applicable to such unpaid principal amount as provided in such Credit Agreement and to pay interest on overdue principal and, to the extent not prohibited by applicable law, on overdue installments of interest and principal and fees at the rate specified in such Credit Agreement, all such interest being payable as provided in the Credit Agreement, except that all accrued interest shall be paid at the stated or accelerated maturity hereof or upon the prepayment in full hereof.
Payments hereunder shall be made to the Lender at 1195 Bangtail Way, Steamboat Springs, CO 80487.
All loans made by the Lender pursuant to the Credit Agreement referred to below and all repayments of the principal thereof shall be recorded by the Lender and, prior to any transfer hereof, appropriate notations to evidence the foregoing information with respect to each such loan then outstanding shall be endorsed by the Lender on the schedule attached hereto or on a continuation of such schedule attached to and made a part hereof; provided, however, that the failure of the Lender to make any such recordation or endorsement shall not affect the obligations of the Borrower under this Note, such Credit Agreement or under any other Credit Document.
This Note evidences borrowings under, and is entitled to the benefits and security of, and is subject to the provisions of, the Credit Agreement dated as of the date hereof, as from time to time in effect (the “Credit Agreement”), between the maker and the payee hereof. The principal of this Note may be prepaid in whole or from time to time in part, all as set forth in the Credit 

- 1 -

Agreement.  Terms defined in the Credit Agreement and not otherwise defined herein are used herein with the meanings so defined.
In case an Event of Default shall occur and be continuing, the entire principal of this Note may become or be declared due and payable in the manner and with the effect provided in the Credit Agreement.
This Note shall be governed by and construed in accordance with the laws of the State of New York.
The parties hereto, including the Borrower and all guarantors and endorsers, hereby waive presentment, demand, notice, protest and all other demands and notices in connection with the delivery, acceptance, performance and enforcement of this Note, except as specifically otherwise provided in the Credit Agreement, and assent to extensions of time of payment, or forbearance or other indulgence without notice.

- 2 -

ALTISOURCE S.À R.L. 

By____________________________________
    Title:

[Signature Page to Note]

LOAN AND PAYMENTS OF PRINCIPAL

															
	

Date
	Amount
of
Loan
	Amount of
Principal
Repaid
	Unpaid
Principal Balance
	

Notation
Made By

____________________________________________________________
___________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________

Exhibit 5.1
MANAGER'S CERTIFICATE 
Pursuant to Section 2 of the Credit Agreement dated as of June 22, 2021 as now in effect (the “Credit Agreement”), between the undersigned Altisource S.À R.L. (the “Borrower”) and STS Master Fund, Ltd. (the “Lender”), the Borrower requests that a loan in the amount of $_________be made on _______, ____ (the “Closing Date”) and be funded into the account specified below.
Bank name: _________________
Bank Address:     _________________
Routing Number: _________________
Account Number: _________________

In connection with the foregoing request, the Borrower represents and warrants that the representations and warranties contained in Section 6 of the Credit Agreement are true and correct in all material respects on and as of the date hereof with the same force and effect as though originally made on and as of the date hereof; and no Default exists on the date hereof or will exist after giving effect to the extension of credit requested hereby.
The foregoing representations and warranties shall be deemed made by the Borrower on the requested Closing Date unless the Borrower shall have notified the Lender in writing to the contrary prior to such Closing Date.
Terms defined in the Credit Agreement and not otherwise defined herein are used herein with the meanings so defined.
This certificate has been executed by a duly authorized officer this _____day of ________, ____.

ALTISOURCE S.À R.L. 

By__________________________
    Title:

- 1 -Exhibit No. 4.1

      

      

      ENERGIZER GAMMA ACQUISITION B.V.

      as Issuer

      

      

      The Guarantors party hereto from time to time

      

      

      and

      

      

      THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

      

      

      as Trustee and Registrar

      

      

      THE BANK OF NEW YORK MELLON, LONDON BRANCH

      

      

      as Paying Agent

      

      

      INDENTURE

      

      

      Dated as of June 23, 2021

      

      

      3.500% Senior Notes due 2029

      

      

      
        
          

      

      
      TABLE OF CONTENTS

       

      

      
        

      

      

      	 	 	
              PAGE

            
	 
	
              ARTICLE 1

            
	
              DEFINITIONS AND INCORPORATION BY REFERENCE

              

            
	 
	
              Section 1.01.

            	
              Definitions

            	
              5

            
	
              Section 1.02.

            	
              Other Definitions

            	
              44

            
	
              Section 1.03.

            	
              Trust Indenture Act

            	
              46

            
	
              Section 1.04.

            	
              Rules of Construction

            	
              46

            
	
              Section 1.05.

            	
              Financial Calculations for Limited Condition Transactions

            	
              46

            
	
              Section 1.06.

            	
              Certain Compliance Calculations

            	
              48

            
	 
	
              ARTICLE 2

            
	
              THE NOTES

              

            
	 
	
              Section 2.01.

            	
              Amount of Notes

            	
              49

            
	
              Section 2.02.

            	
              Form and Dating

            	
              49

            
	
              Section 2.03.

            	
              Execution and Authentication

            	
              49

            
	
              Section 2.04.

            	
              Registrar and Paying Agent

            	
              50

            
	
              Section 2.05.

            	
              Paying Agent to Hold Money in Trust

            	
              51

            
	
              Section 2.06.

            	
              Noteholder Lists

            	
              51

            
	
              Section 2.07.

            	
              Replacement Notes

            	
              52

            
	
              Section 2.08.

            	
              Outstanding Notes

            	
              52

            
	
              Section 2.09.

            	
              Temporary Notes

            	
              52

            
	
              Section 2.10.

            	
              Cancellation

            	
              53

            
	
              Section 2.11.

            	
              Defaulted Interest

            	
              53

            
	
              Section 2.12.

            	
              ISIN or Common Code Numbers

            	
              53

            
	 
	
              ARTICLE 3

            
	
              REDEMPTION

            
	 
	
              Section 3.01.

            	
              Notices to Trustee

            	
              53

            
	
              Section 3.02.

            	
              Selection of Notes to be Redeemed

            	
              54

            
	
              Section 3.03.

            	
              Notice of Redemption

            	
              54

            
	
              Section 3.04.

            	
              Effect of Notice of Redemption

            	
              55

            
	
              Section 3.05.

            	
              Deposit of Redemption Price

            	
              55

            
	
              Section 3.06.

            	
              Notes Redeemed in Part

            	
              55

            
	
              Section 3.07.

            	
              Optional Redemption

            	
              55

            
	 
	
              ARTICLE 4

            
	
              COVENANTS

            
	 
	
              Section 4.01.

            	
              Covenant Suspension

            	
              56

            
	
              Section 4.02.

            	
              Payment of Notes

            	
              57

            

      

      

      
        1

        
          

      

      	
              Section 4.03.

            	
              Reports

            	
              57

            
	
              Section 4.04.

            	
              Limitation on Debt

            	
              58

            
	
              Section 4.05.

            	
              Limitation on Restricted Payments

            	
              64

            
	
              Section 4.06.

            	
              Limitation on Liens

            	
              68

            
	
              Section 4.07.

            	
              Limitation on Asset Sales

            	
              68

            
	
              Section 4.08.

            	
              Limitation on Restrictions on Distributions from Restricted Subsidiaries

            	
              72

            
	
              Section 4.09.

            	
              Limitation on Transactions with Affiliates

            	
              74

            
	
              Section 4.10.

            	
              Designation of Restricted and Unrestricted Subsidiaries

            	
              76

            
	
              Section 4.11.

            	
              Limitation on Sale and Leaseback Transactions

            	
              77

            
	
              Section 4.12.

            	
              Change of Control

            	
              78

            
	
              Section 4.13.

            	
              Additional Note Guarantees

            	
              79

            
	
              Section 4.14.

            	
              Additional Amounts

            	
              79

            
	
              Section 4.15.

            	
              Existence

            	
              82

            
	
              Section 4.16.

            	
              [Reserved]

            	
              82

            
	
              Section 4.17.

            	
              [Reserved]

            	
              82

            
	
              Section 4.18.

            	
              [Reserved]

            	
              82

            
	
              Section 4.19.

            	
              [Reserved]

            	
              82

            
	
              Section 4.20.

            	
              Limitation on Accounts Receivables Facilities

            	
              82

            
	 
	
              ARTICLE 5

            
	
              SUCCESSORS

            
	 
	
              Section 5.01.

            	
              When Issuer May Merge or Transfer Assets

            	
              83

            
	
              Section 5.02.

            	
              When Company May Merge or Transfer Assets

            	
              83

            
	
              Section 5.03.

            	
              When Subsidiary Guarantors May Merge or Transfer Assets

            	
              85

            
	
              Section 5.04.

            	
              Application to the Consummation of the Transactions

            	
              85

            
	 
	
              ARTICLE 6

            
	
              DEFAULTS AND REMEDIES

              

            
	 
	
              Section 6.01.

            	
              Events of Default

            	
              85

            
	
              Section 6.02.

            	
              Acceleration

            	
              87

            
	
              Section 6.03.

            	
              Other Remedies

            	
              89

            
	
              Section 6.04.

            	
              Waiver of Past Defaults

            	
              89

            
	
              Section 6.05.

            	
              Control by Majority

            	
              89

            
	
              Section 6.06.

            	
              Limitation on Suits

            	
              90

            
	
              Section 6.07.

            	
              Rights of Holders to Receive Payment

            	
              90

            
	
              Section 6.08.

            	
              Collection Suit by Trustee

            	
              90

            
	
              Section 6.09.

            	
              Trustee May File Proofs of Claim

            	
              90

            
	
              Section 6.10.

            	
              Priorities

            	
              91

            
	
              Section 6.11.

            	
              Undertaking for Costs

            	
              91

            
	
              Section 6.12.

            	
              Waiver of Stay or Extension Laws

            	
              91

            
	
              Section 6.13.

            	
              Restoration of Rights and Remedies

            	
              91

            
	
              Section 6.14.

            	
              Rights and Remedies Cumulative

            	
              92

            
	
              Section 6.15.

            	
              Delay or Omission Not Waiver

            	
              92

            

      

      

      
        2

        
          

      

      	
              ARTICLE 7

            
	
              TRUSTEE

            
	 
	
              Section 7.01.

            	
              Duties of Trustee

            	
              92

            
	
              Section 7.02.

            	
              Rights of Trustee

            	
              93

            
	
              Section 7.03.

            	
              Individual Rights of Trustee

            	
              95

            
	
              Section 7.04.

            	
              Trustee’s Disclaimer

            	
              95

            
	
              Section 7.05.

            	
              Notice of Defaults

            	
              95

            
	
              Section 7.06.

            	
              [Reserved]

            	
              95

            
	
              Section 7.07.

            	
              Compensation and Indemnity

            	
              96

            
	
              Section 7.08.

            	
              Replacement of Trustee

            	
              96

            
	
              Section 7.09.

            	
              Successor Trustee by Merger

            	
              97

            
	 
	
              ARTICLE 8

            
	
              DISCHARGE OF INDENTURE; DEFEASANCE

              

            
	 
	
              Section 8.01.

            	
              Satisfaction and Discharge

            	
              97

            
	
              Section 8.02.

            	
              Discharge on Liability of Notes; Defeasance

            	
              98

            
	
              Section 8.03.

            	
              Conditions to Defeasance

            	
              99

            
	
              Section 8.04.

            	
              Application of Trust Money

            	
              100

            
	
              Section 8.05.

            	
              Repayment to Issuer

            	
              100

            
	
              Section 8.06.

            	
              Indemnity for Euro Government Obligations

            	
              100

            
	
              Section 8.07.

            	
              Reinstatement

            	
              100

            
	 
	
              ARTICLE 9

            
	
              AMENDMENTS

            
	 
	
              Section 9.01.

            	
              Without Consent of Holders

            	
              101

            
	
              Section 9.02.

            	
              With Consent of Holders

            	
              102

            
	
              Section 9.03.

            	
              [Reserved]

            	
              103

            
	
              Section 9.04.

            	
              Revocation and Effect of Consents and Waivers

            	
              103

            
	
              Section 9.05.

            	
              Notation on or Exchange of Notes

            	
              103

            
	
              Section 9.06.

            	
              Trustee to Sign Amendments

            	
              104

            
	 
	
              ARTICLE 10

            
	
              GUARANTEES

            
	 
	
              Section 10.01.

            	
              The Guarantees

            	
              104

            
	
              Section 10.02.

            	
              Guaranty Unconditional

            	
              104

            
	
              Section 10.03.

            	
              Discharge; Reinstatement

            	
              105

            
	
              Section 10.04.

            	
              Waiver by the Guarantors

            	
              105

            
	
              Section 10.05.

            	
              Subrogation and Contribution

            	
              105

            
	
              Section 10.06.

            	
              Stay of Acceleration

            	
              105

            
	
              Section 10.07.

            	
              Limitation on Amount of Guaranty

            	
              105

            
	
              Section 10.08.

            	
              Execution and Delivery of Guaranty

            	
              106

            
	
              Section 10.09.

            	
              Release of Guaranty

            	
              106

            

      

      

      
        3

        
          

      

      	
              ARTICLE 11

            
	
              MISCELLANEOUS

            
	 
	
              Section 11.01.

            	
              [Reserved]

            	
              106

            
	
              Section 11.02.

            	
              Notices

            	
              107

            
	
              Section 11.03.

            	
              [Reserved]

            	
              108

            
	
              Section 11.04.

            	
              Certificate and Opinion as to Conditions Precedent

            	
              108

            
	
              Section 11.05.

            	
              Statements Required in Certificate or Opinion

            	
              108

            
	
              Section 11.06.

            	
              When Notes Disregarded

            	
              109

            
	
              Section 11.07.

            	
              Rules by Trustee, Paying Agents and Registrar

            	
              109

            
	
              Section 11.08.

            	
              Business Days

            	
              109

            
	
              Section 11.09.

            	
              Governing Law/Waiver of Trial by Jury; Submission to Jurisdiction

            	
              109

            
	
              Section 11.10.

            	
              Appointment of Agent for Service.

            	
              110

            
	
              Section 11.11.

            	
              Currency Indemnity and Calculation of Euro-denominated Restriction

            	
              111

            
	
              Section 11.12.

            	
              No Recourse Against Others

            	
              111

            
	
              Section 11.13.

            	
              Successors

            	
              111

            
	
              Section 11.14.

            	
              Electronic Signatures

            	
              111

            
	
              Section 11.15.

            	
              Table of Contents; Headings

            	
              111

            
	
              Section 11.16.

            	
              Force Majeure

            	
              111

            
	
              Section 11.17.

            	
              U.S.A. Patriot Act

            	
              112

            
	
              Section 11.18.

            	
              FATCA

            	
              112

            

      

      

      	
              Appendix A - Provisions Relating to Notes

            	 

      

      

      	
              EXHIBIT INDEX

            
	
              Exhibit A

            	
              —

            	
              Form of Note

            
	
              Exhibit B

            	
              —

            	
              Form of Supplemental Indenture for Future Guarantors

            

      

      

      
        4

        
          

      

      INDENTURE, dated as of June 23, 2021, among ENERGIZER GAMMA ACQUISITION B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid)
        incorporated under the laws of The Netherlands (the “Issuer”), the Guarantors party hereto and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee (the “Trustee”)

        and Registrar, and THE BANK OF NEW YORK MELLON, LONDON BRANCH, as Paying Agent.

      

      

      RECITALS

       

      

      The Issuer has duly authorized the execution and delivery of the Indenture to provide for the issuance on the date hereof of €650,000,000 aggregate principal amount of the Issuer’s 3.500% Senior Notes due 2029 (the “Original Notes”) issued therefor as provided herein (the Original Notes and any Additional Notes (as defined below) together referred to herein as the “Notes”). All things
        necessary to make the Indenture a valid agreement of the Issuer, in accordance with its terms, have been done, and the Issuer has done all things necessary to make the Notes, when executed by the Issuer and authenticated and delivered by the
        Trustee and duly issued by the Issuer, the valid obligations of the Issuer as hereinafter provided.

      

      

      THIS INDENTURE WITNESSETH

       

      

      For and in consideration of the premises and the purchase of the Notes by the Holders thereof, the parties hereto covenant and agree, for the equal and proportionate benefit of all Holders, as follows:

      

      

      ARTICLE 1

      DEFINITIONS AND INCORPORATION BY REFERENCE

      

      Section 1.01.        Definitions.

      

      

      “2019 Common Stock Offering” means the previously completed public offering and issuance of 4,687,498 shares of common stock of the Company, pursuant to the Company’s prospectus
        supplement dated January 15, 2019 relating to such offering.

       

      

      “2019 Preferred Stock Offering” means the previously completed public offering and issuance of the 2,156,250 shares of Series A Mandatory Convertible Preferred Stock, pursuant to
        the Company’s prospectus supplement dated January 15, 2019 relating to such offering.

       

      

      “2025 Notes Offering Memorandum” means the Company’s final Offering Memorandum dated as of May 15, 2015 relating to the Company’s previously outstanding 5.500% Senior Notes due
        2025.

       

      

      “2026 Senior Notes Indentures” means (i) the Indenture dated as of July 6, 2018, as amended and supplemented, among the Company, the guarantors party thereto from time to time,
        and The Bank of New York Mellon Trust Company, N.A., as trustee relating to the Company’s previously outstanding 6.375% Senior Notes due 2026 and (ii) the Indenture dated as of July 6, 2018, as amended and supplemented, among the Issuer, the
        guarantors party thereto from time to time, and The Bank of New York Mellon Trust Company, N.A., as trustee and registrar, and The Bank of New York Mellon, London Branch, as paying agent, relating to the Issuer’s previously outstanding 4.625%
        Senior Notes due 2026.

       

      

      
        5

        
          

      

      “2027 Senior Notes Indenture” means the Indenture dated as of January 28, 2019, as amended and supplemented, among the Company, the guarantors party thereto from time to time,
        and The Bank of New York Mellon Trust Company, N.A., as trustee relating to the Company’s previously outstanding 7.750% Senior Notes due 2027.

       

      

      “2028 Notes” means the Company’s 4.750% Senior Notes due 2028.

       

      

      “2028 Senior Notes Indenture” means the Indenture dated as of July 1, 2020, as amended and supplemented, among the Company, the guarantors party thereto from time to time, and
        The Bank of New York Mellon Trust Company, N.A., as trustee relating to the 2028 Notes.

       

      

      “2029 Notes” means the Company’s 4.375% Senior Notes due 2029.

       

      

      “2029 Senior Notes Indenture” means the Indenture, dated as of September 30, 2020, as amended and supplemented, among the Company, the guarantors party thereto from time to time,
        and The Bank of New York Mellon Trust Company, N.A., as trustee relating to the 2029 Notes.

        

      

      “Additional Assets” means:

       

      

      (a)          any Property (other than cash, cash equivalents, securities and inventory or other current assets, unless incidental to an acquisition or investment in other Property), including any improvements thereto
        through capital expenditures or otherwise, to be used, or that is useful, in a Permitted Business or that replaces the Property that is the subject of the applicable Asset Sale;

       

      

      (b)          Capital Stock of (i) a Person that becomes a Restricted Subsidiary as a result of the acquisition of that Capital Stock by the Company or another Restricted Subsidiary from any Person other than the
        Company or a Restricted Subsidiary of the Company or (ii) any Person that at such time is a Restricted Subsidiary; provided, however, that, in the case of this
        clause (b), the Restricted Subsidiary is primarily engaged in a Permitted Business; or

       

      

      (c)          all or substantially all of the assets of a Permitted Business.

       

      

      “Additional Notes” means any Notes issued under this Indenture in addition to the Original Notes, but excluding any Notes issued pursuant to Section 2.07, 2.09 or 3.06 or
        Appendix A in respect of the Original Notes.

       

      

      
        6

        
          

      

      “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with that specified
        Person.

       

      

      For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of that 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.

       

      

      “Applicable Premium” means, with respect to any Note on any Redemption Date, the greater of:

        

      

      (a)          1.0% of the principal amount of such Note; and

       

      

      (b)          the excess, if any, of (i) the present value on such Redemption Date of (A) the redemption price of such Notes on June 30, 2024 (such redemption price being that described in paragraph 5 of the Notes), plus (B) all required remaining scheduled interest payments due on such Note through June 30, 2024 computed using a discount rate equal to the Bund Rate plus 50 basis points, over (ii) the principal amount of
        such Note.

       

      

      “Approved Bank” means (a) any lender under the revolving credit facility under the Credit Agreement, (b) any United States domestic commercial bank of recognized standing having
        capital and surplus in excess of $500,000,000 or (c) any bank (or parent thereof) whose short-term commercial paper rating from S&P is at least A-2 or the equivalent thereof or from Moody’s is at least P-2 or the equivalent thereof.

       

      

      “Asset Sale” means any direct or indirect sale, lease (other than an operating lease), transfer, issuance or other disposition (or series of related sales, leases, transfers,
        issuances or dispositions that are part of a common plan) by the Company or any Restricted Subsidiary, including any disposition by means of a merger, consolidation or similar transaction (each referred to for the purposes of this definition as a “disposition”), of:

       

      

      (a)          any shares of Capital Stock of a Restricted Subsidiary (other than directors’ qualifying shares and shares issued to foreign nationals to the extent required by applicable law),

       

      

      (b)          all or substantially all the assets of any division or line of business of the Company or any Restricted Subsidiary, or

       

      

      (c)          any other Property of the Company or any Restricted Subsidiary outside of the ordinary course of business of the Company or such Restricted Subsidiary, other than, in the case of clause (a), (b) or (c)
        above,

       

      

      (i)           any disposition by a Restricted Subsidiary to the Company or by the Company or a Restricted Subsidiary to a Restricted Subsidiary;

        

      

      
        7

        
          

      

      (ii)          any disposition that constitutes a Permitted Investment or Restricted Payment permitted by Section 4.05;

       

      

      (iii)        any disposition effected in compliance with the first paragraph of Section 5.01;

       

      

      (iv)         any disposition that does not (together with all related dispositions) involve assets having a Fair Market Value or consideration in excess of the greater of (x) $35.0 million and (y)
        5.0% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four consecutive fiscal quarters (measured at the time such disposition is contractually committed to), determined on a pro forma basis;

       

      

      (v)          any disposition of cash or Cash Equivalents;

       

      

      (vi)         any disposition of obsolete, damaged or worn out property or equipment or property or equipment that is no longer useful in the conduct of the business of the Company and its Restricted
        Subsidiaries;

       

      

      (vii)        any disposition pursuant to a Sale and Leaseback Transaction;

        

      

      (viii)      the creation or Incurrence of a Permitted Lien or any other Lien created or Incurred in compliance with Section 4.06 and dispositions in connection therewith;

       

      

      (ix)         dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive
        of factoring or similar arrangements;

       

      

      (x)          (a) the issuance by a Restricted Subsidiary of Disqualified Stock that is permitted by Section 4.04, (b) any issuance or sale of Capital Stock of any Restricted Subsidiary to the Company
        or another Restricted Subsidiary or (c) any issuance or sale of Capital Stock of any Restricted Subsidiary to the Company or a Restricted Subsidiary or to other holders of Capital Stock of a Restricted Subsidiary that is not a Wholly Owned
        Subsidiary so long as the Company or such Restricted Subsidiary (1) receives at least its pro rata share of such dividend or distribution (to the extent such issuance of Capital Stock is being received as a dividend or distribution) or (2) such
        transaction is made with all equity holders of such non Wholly Owned Subsidiary on a pro rata basis and the economic ownership interest of the Company and its Restricted Subsidiaries in such non Wholly Owned Subsidiary is not reduced by such
        transaction;

       

      

      (xi)         a surrender or waiver of contract rights or a settlement, release or surrender of contract, tort or other claims in the ordinary course of business;

       

      

      (xii)       foreclosure on assets or property;

       

      

      
        8

        
          

      

      (xiii)      any (a) grant of licenses, covenants not to sue, releases or other similar rights or immunities with respect to Intellectual Property or (b) sale, transfer or other disposition of any
        Intellectual Property, in each case of (a) and (b), in the ordinary course of business or which, in the business judgment of the Company or the applicable Restricted Subsidiary, do not materially interfere with the business of the Company and
        Restricted Subsidiaries as a whole;

        

      

      (xiv)       any sale or other disposition or pledge of Capital Stock in, or Debt or other securities of, an Unrestricted Subsidiary;

       

      

      (xv)        the lease, assignment, sub-lease, license or sub-license of any real or personal property in the ordinary course of business;

       

      

      (xvi)       the lapse, abandonment, invalidation of, discontinuing the use or maintenance of, putting into the public domain or any other disposition of Intellectual Property in the ordinary course
        of business or which, in the business judgment of the Company or the applicable Restricted Subsidiary, are no longer material to the business of the Company and Restricted Subsidiaries as a whole;

       

      

      (xvii)      the issuance of directors’ qualifying shares and shares issued to foreign nationals or other third parties as required by applicable law;

       

      

      (xiii)       sales of inventory in the ordinary course of business;

       

      

      (xix)       any exchange of like-kind property (excluding any securities) pursuant to Section 1031 of the Code that are used or useful in a Permitted Business;

       

      

      (xx)        condemnations or any similar action on assets;

       

      

      (xxi)       dispositions of accounts receivable and related assets to a Securitization Subsidiary or to banks, investment banks, insurance companies, mutual funds or other institutional lenders in
        connection with a Permitted Receivables Financing;

       

      

      (xxii)      any non-recourse factoring of accounts receivable pursuant to a factoring program sponsored by a retailer of national standing in partnership with a financial institution or otherwise
        entered into by the Company or any of its subsidiaries with a financial institution;

       

      

      (xxiii)     sales, transfers and other dispositions of Investments in joint ventures to the extent required by, or made pursuant to, customary buy/sell arrangements between the joint venture parties
        set forth in joint venture arrangements and similar agreements; and

       

      

      (xxiv)     the disposition of any assets (including Capital Stock) (i) acquired in a transaction permitted under this Indenture, which assets are not used or useful in the business of the Company and
        its Restricted Subsidiaries, or (ii) made in connection with the approval of any applicable antitrust authority or otherwise necessary or advisable in the good faith determination of the Company to consummate any acquisition permitted under this
        Indenture.

       

      

      
        9

        
          

      

      “Attributable Debt” in respect of a Sale and Leaseback Transaction means, at any date of determination,

       

      

      (a)          if the Sale and Leaseback Transaction creates a Capital Lease Obligation, or Synthetic Lease Obligation the amount of Debt represented thereby according to the definition of “Capital Lease Obligation” or
        “Synthetic Lease Obligation,” as applicable, and

       

      

      (b)          in all other instances, the greater of:

        

      

      (1)          the Fair Market Value of the Property subject to the Sale and Leaseback Transaction, and

       

      

      (2)          the present value (discounted at the interest rate borne by the Notes, compounded annually) of the total obligations of the lessee for rental payments during the remaining term of the
        lease included in the Sale and Leaseback Transaction (including any period for which the lease has been extended).

       

      

      “Authentication Agent” means an institution, reasonably acceptable to the Issuer, appointed by the Trustee to authenticate the Notes.

       

      

      “Auto Care Acquisition” means the acquisition by the Company of the Transferred Entities (as defined in the Auto Care Acquisition
        Agreement) and the Transferred Assets (as defined in the Auto Care Acquisition Agreement) and the assumption of the Assumed Liabilities (as defined in the Auto Care Acquisition Agreement) pursuant to the Auto Care Acquisition Agreement or any other
        Transaction Document (as defined in the Auto Care Acquisition Agreement).

       

      

      “Auto Care Acquisition Agreement” means the Acquisition Agreement dated as of November 15, 2018 between Spectrum Brands Holdings, Inc. and the Company, as amended, modified or
        supplemented from time to time.

       

      

      “Auto Care Transactions” means the “Transactions” as defined in the 2027 Senior Notes Indenture.

        

      

      “Average Life” means, as of any date of determination, with respect to any Debt or Preferred Stock, the quotient obtained by dividing:

        

      

      (a)          the sum of the product of the numbers of years (rounded to the nearest one-twelfth of one year) from the date of determination to the dates of each successive scheduled principal payment of that Debt or
        redemption or similar payment with respect to that Preferred Stock multiplied by the amount of the payment by

       

      

      
        10

        
          

      

      (b)          the sum of all payments of this kind.

       

      

      “Bankruptcy Law” means title 11 of the U.S. Code or any similar federal or state law for the relief of debtors.

       

      

      “Battery Acquisition” means the acquisition by the Company of the Transferred Entities (as defined in the Battery Acquisition Agreement) and the Transferred Assets (as defined in
        the Battery Acquisition Agreement) and the assumption of the Assumed Liabilities (as defined in the Battery Acquisition Agreement) pursuant to the Battery Acquisition Agreement or any other Transaction Document (as defined in the Battery
        Acquisition Agreement).

       

      

      “Battery Acquisition Agreement” means the Acquisition Agreement dated as of January 15, 2018 between Spectrum Brands Holdings, Inc. and the Company, as amended and restated as of
        November 15, 2018, and as further amended, modified or supplemented from time to time.

       

      

      “Battery Transactions” means the “Transactions” as defined in each of the 2026 Senior Notes Indentures.

        

      

      “Beneficial Owner” means a beneficial owner as defined in Rule 13d-3 under the Exchange Act, except that:

       

      

      (a)          a Person will be deemed to be the Beneficial Owner of all shares that the Person has the right to acquire, whether that right is exercisable immediately or only after the passage of time, and

       

      

      (b)          for purposes of clause (a) of the definition of “Change of Control,” any “person” or “group” (as those terms are defined in Sections 13(d) and 14(d) of the Exchange Act or any successor provisions to
        either of the foregoing), including any group acting for the purpose of acquiring, holding, voting or disposing of securities within the meaning of Rule 13d-5(b)(1) under the Exchange Act, shall be deemed to be the Beneficial Owners of any Voting
        Stock of a corporation or other legal entity held by any other corporation or legal entity (the “parent corporation”), so long as that person or group Beneficially Owns, directly or indirectly, in the
        aggregate a majority of the total voting power of the Voting Stock of that parent corporation.

        

      

      The term “Beneficially Own” shall have a corresponding meaning.

       

      

      “Board of Directors” means: (1) with respect to a corporation, the board of directors of the corporation or a duly authorized committee of the board of directors; (2) with
        respect to a partnership, the board of directors (or other governing body) of the general partner of the partnership; (3) with respect to a limited liability company, the managing member or members or any controlling committee or board of managers
        of such company or the Board of Directors of the sole member or the managing member thereof; and (4) with respect to any other Person, the board or committee of such Person serving a similar function.

       

      

      
        11

        
          

      

      “Bund Rate” means, as obtained by the Issuer, as of any Redemption Date, the yield to maturity as of such Redemption Date of direct obligations of the Federal Republic of Germany
        of comparable maturity (as published in the Financial Times or, if not published in therein, any publicly available similar source of market data) that has become publicly available at least two Business Days prior to the Redemption Date most
        nearly equal to the period from such Redemption Date to June 30, 2024; provided, however, that if the period from such Redemption Date to June 30, 2024 is less than
        one year, the weekly average yield on actually traded direct obligations of the Federal Republic of Germany adjusted to a constant maturity of one year will be used, and provided, further, that in no case for any purpose under this Indenture shall the Bund Rate be less than 0.00%.

       

      

      “Business Day” means each day that is not a Legal Holiday and on which the Trans-European Automated Real-time Gross Settlement Express Transfer system (the TARGET2 system) or any
        successor thereto, operates.

       

      

      “Capital Lease Obligation” means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal
        property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP and, for the purposes of this Indenture, the amount of such obligations shall be
        the capitalized amount thereof determined in accordance with GAAP and the Stated Maturity thereof will be the date of the last payment of rent or any other amount due under such lease prior to the first date such lease may be terminated without
        penalty, in each case. For purposes of Section 4.06, a Capital Lease Obligation shall be deemed secured by a Lien on the Property being leased.

       

      

      “Capital Stock” means, with respect to any Person, any shares or other equivalents (however designated) of any class of corporate stock or partnership interests or any other
        participation, rights, warrants, options or other interests in the nature of an equity interest in that Person, including Preferred Stock, but excluding any debt security convertible or exchangeable into that equity interest and the Permitted
        Mandatory Convertible Hedge Transactions.

       

      

      “Capital Stock Sale Proceeds” means the aggregate net proceeds (including the Fair Market Value of property other than cash) received by the Company from the issuance or sale
        (other than to a Subsidiary of the Company or an employee stock ownership plan or trust established by the Company or the Subsidiary for the benefit of their employees, or Spectrum Brands Holdings, Inc. pursuant to the Auto Care Acquisition
        Agreement) by the Company of its Capital Stock (other than Disqualified Stock) after July 1, 2015 (other than the 2019 Common Stock Offering and the 2019 Preferred Stock Offering), net of attorneys’ fees, accountants’ fees, initial purchasers’ or
        placement agents’ fees, discounts or commissions and brokerage, consultant and other fees actually incurred in connection with the issuance or sale and net of taxes paid or payable as a result thereof.

       

      

      
        12

        
          

      

      “Cash Equivalents” means any of the following types of Investments, to the extent owned by the Company or any Restricted Subsidiary:

       

      

      (a)          securities issued or directly and fully guaranteed or insured by the United States or any agency or instrumentality thereof (provided that the full faith and credit of the United States is pledged in
        support thereof) having maturities of not more than 24 months from the date of acquisition,

       

      

      (b)          U.S. Dollar denominated time deposits, certificates of deposit or bankers’ acceptances of any Approved Bank, in each case with maturities of not more than 364 days from the date of acquisition,

       

      

      (c)          commercial paper and variable or fixed rate notes issued by any Approved Bank (or by the parent company thereof) or any variable rate notes issued by, or guaranteed by, any domestic corporation rated A-2
        (or the equivalent thereof) or better by S&P or P-2 (or the equivalent thereof) or better by Moody’s, and maturing within 24 months of the date of acquisition,

       

      

      (d)          repurchase agreements entered into by any Person with a bank or trust company (including any Approved Bank) or recognized securities dealer having capital and surplus in excess of $500.0 million for direct
        obligations issued by or fully guaranteed by the United States in which such Person shall have a perfected first priority security interest (subject to no other Liens) and having, on the date of purchase thereof, a fair market value of at least one
        hundred percent (100%) of the amount of the repurchase obligations,

       

      

      (e)          Investments (classified in accordance with GAAP as current assets) in money market investment programs registered under the Investment Company Act of 1940 that are administered by financial institutions
        having capital of at least $500.0 million and the portfolios of which are limited to Investments of the character described in the foregoing subclauses hereof,

       

      

      (f)          other short-term investments utilized by the Company or any Restricted Subsidiary in accordance with normal investment practices for cash management in investments of a type analogous to the foregoing,

       

      

      (g)          U.S. Dollars or foreign currencies held from time to time in the ordinary course of business, and

       

      

      (h)          interests in any investment company or money market fund which invests principally in instruments specified in clauses (a) through (g) above.

       

      

      
        13

        
          

      

      “Change of Control” means the occurrence of any of the following events:

       

      

      (a)          any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act or any successor provisions to either of the foregoing), including any group acting for the purpose of
        acquiring, holding, voting or disposing of securities within the meaning of Rule 13d-5(b)(1) under the Exchange Act, becomes the ultimate Beneficial Owner, directly or indirectly, of 50% or more of the total voting power of the Voting Stock of the
        Company; provided, however, that an entity that conducts no other material activities other than holding Voting Stock of the Company or any direct or indirect
        parent of the Company and has no other material assets or liabilities other than such Voting Stock will not itself be considered a “person” for purposes of this clause (a); or

       

      

      (b)          the sale, transfer, assignment, lease, conveyance or other disposition, directly or indirectly, of all or substantially all the Property of the Company and the Restricted Subsidiaries, considered as a
        whole (other than a disposition of assets as an entirety or virtually as an entirety to a Wholly Owned Restricted Subsidiary) shall have occurred; or

       

      

      (c)          the shareholders of the Company or the Issuer shall have approved any plan of liquidation or dissolution of the Company or the Issuer, respectively; or

        

      

      (d)          the Company ceases to own, directly or indirectly, 100% of the Capital Stock of the Issuer.

       

      

      “Clearstream” means Clearstream Banking, a société anonyme as currently in effect or any successor securities clearing agency.

       

      

      “Code” means the Internal Revenue Code of 1986, as amended.

       

      

      “Commodity Price Protection Agreement” means, in respect of a Person, any forward contract, commodity swap agreement, commodity option agreement or other similar agreement or
        arrangement designed to protect that Person against fluctuations in commodity prices.

       

      

      “Company” means Energizer Holdings, Inc., a Missouri corporation, and its successors and assigns.

       

      

      “Consolidated EBITDA” means, for any period, Consolidated Net Income for such period, plus

       

        

      (a)          without duplication and to the extent deducted (and not added back) in determining such Consolidated Net Income, the sum of:

       

      

      (i)           consolidated interest expense (and, to the extent not reflected therein, bank and letter of credit fees and costs of surety bonds in connection with financing activities) for such
        period (including imputed interest expense in respect of Capital Lease Obligations and Synthetic Lease Obligations),

       

      

      (ii)          consolidated income tax expense for such period,

       

      

      (iii)         all amounts attributable to depreciation and amortization (including amortization of deferred financing fees) for such period,

        

      

      
        14

        
          

      

      (iv)         any non-cash extraordinary charges for such period,

       

      

      (v)          any other non-cash charges (except any non-cash charges that require accrual of a reserve for anticipated future cash payments for any period) for such period,

       

      

      (vi)         any losses for such period attributable to early extinguishment of Debt or obligations under any Swap Agreement or Hedging Obligations,

        

      

      (vii)       any extraordinary, infrequent, unusual or non-recurring losses, costs, charges or expenses,

       

      

      (viii)       restructuring, business optimization costs, charges or reserves (including any unusual or non-recurring operating expenses directly attributable to the implementation of cost savings
        initiatives), recruiting fees, fees of restructuring or business optimization consultants, integration and non-recurring severance, relocation costs, one-time compensation charges, consolidation, transition, integration or other similar charges and
        expenses, contract termination costs, excess pension charges, system establishment charges, start-up or closure or transition costs, expenses related to any reconstruction, decommissioning, recommissioning or reconfiguration of fixed assets for
        alternative uses, fees, expenses or charges relating to curtailments or modifications to pension and post-retirement employee benefit plans and litigation settlements or losses,

       

      

      (ix)         the amount of “run-rate” cost savings (including, without limitation, cost savings with respect to salary, benefit and other direct savings resulting from workforce reductions and
        facility, benefit and insurance savings), operating expense reductions, other operating improvements, initiatives and synergies (including the modification and renegotiation of contracts and other arrangements), that are reasonably identifiable and
        factually supportable and projected by the Company in good faith to be reasonably anticipated to be realizable as a result of actions that have been taken or with respect to which substantial steps have been taken or are expected to be taken within
        24 months after any Investment, acquisition (including the Transactions, the Auto Care Transactions and the Battery Transactions), disposition, merger, consolidation, reorganization or restructuring, transaction, cost savings initiative, other
        initiative or event, and in each case, added to Consolidated EBITDA as so projected until fully realized and calculated on a pro forma basis as though such cost savings, operating expense reductions, other operating improvements, initiatives and
        synergies had been realized on the first day of such period, net of the amount of actual benefits realized prior to or during such period from such actions,

       

      

      (x)          any fees, losses, expense or charges incurred or premiums or penalties paid during such period in connection with any issuance or redemption or repayment of debt or equity securities,
        any Refinancing transaction or any acquisition or Investment, in each case, whether or not consummated, plus

       

        

      
        15

        
          

      

      (xi)         adjustments, exclusions and add-backs  of the type included in any quality of earnings analysis prepared by independent registered public accountants of recognized national standing, and
        minus

       

        

      (b)          without duplication

       

      

      (i)           to the extent not deducted in determining such Consolidated Net Income, all cash payments made during such period on account of non-cash charges that were or would have been added to
        Consolidated Net Income, and

       

      

      (ii)          to the extent included in determining such Consolidated Net Income, (A) any extraordinary gains and all non-cash items of income (other than normal accruals in the ordinary course of
        business) for such period and (B) any gains for such period attributable to early extinguishment of Debt or obligations under any Swap Agreement or Hedging Obligation, all determined on a consolidated basis in accordance with GAAP,

       

      

      provided that Consolidated EBITDA shall be calculated so as to exclude the effect of any gain
          or loss that represents gains or losses attributable to any sale, transfer or other disposition of assets by the Company or any Restricted Subsidiary, other than dispositions in the ordinary course of business, provided further that Consolidated
          EBITDA shall be calculated on a pro forma basis with such pro forma adjustments as are appropriate and consistent with the pro forma provisions set forth in the definition of pro forma basis.

       

        

      “Consolidated Fixed Charges” means, for any period for the Company and its consolidated Restricted Subsidiaries, the sum, without duplication, of,

       

      

      (a)          Consolidated Interest Expense for such period, plus

       

      

      (b)          Disqualified Stock Dividends paid, accrued or scheduled to be paid or accrued during such period, excluding dividends paid in Qualified Capital Stock.

       

      

      “Consolidated Fixed Charges Coverage Ratio” means, as of any date of determination, the ratio of:

       

      

      (a)          the aggregate amount of Consolidated EBITDA for the most recent four consecutive fiscal quarters ending prior to such determination date for which financial statements are required to be filed pursuant to
        Section 4.03 to

       

      

      (b)          Consolidated Fixed Charges for those four fiscal quarters.

        

      

      “Consolidated Interest Expense” means, for any period for the Company and its Restricted Subsidiaries, all interest expense on a consolidated basis determined in accordance with
        GAAP, but including, in any event, the interest component under Capital Lease Obligations, Synthetic Lease Obligations and any premiums, fees, discounts, expenses and losses on the sale of accounts receivable (and any amortization thereof) payable
        by the Company or any Restricted Subsidiary in connection with a Permitted Receivables Financing.

       

      

      
        16

        
          

      

      “Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a) the aggregate amount of all Debt of the Company and its Restricted Subsidiaries, other
        than Debt of the type described in clauses (c), (d) and (h) of the definition of Debt, less the amount of cash and Cash Equivalents that would be stated on a consolidated balance sheet of the Company and its Restricted Subsidiaries as of such date
        of determination (in each case on a pro forma basis reflecting any Incurrence of Debt and repayment of Debt made on such date) to (b) the aggregate amount of Consolidated EBITDA for the Company for the four full fiscal quarters, treated as one
        period, for which financial statements are required to be filed pursuant to Section 4.03.

       

      

      “Consolidated Net Income” means, for any period, the net income or loss of the Company and the Restricted Subsidiaries for such period, determined on a consolidated basis in
        accordance with GAAP; provided that there shall be excluded (a) the income of any Person (other than the Company) that is not a Restricted Subsidiary except to the extent of the amount of cash dividends or
        similar cash distributions actually paid by such Person to the Company or, subject to clauses (b) and (c) below, any of the Restricted Subsidiaries during such period, (b) the income of, and any amounts referred to in clause (a) above paid to, any
        Restricted Subsidiary (other than the Issuer or a Guarantor) to the extent that, on the date of determination, the declaration or payment of cash dividends or similar cash distributions by such Restricted Subsidiary is restricted by operation of
        the terms of its organizational documents or any agreement, instrument, judgment, decree, statute, rule or regulation applicable to such Restricted Subsidiary, (c) the income or loss of, and any amounts referred to in clause (a) above paid to, any
        Restricted Subsidiary that is not wholly owned by the Company to the extent such income or loss or such amounts are attributable to the noncontrolling interest in such Restricted Subsidiary, (d) any (i) non-cash compensation charge or expense
        arising from any grant of stock, stock options or other equity based awards and any non-cash deemed finance charges in respect of any pension liabilities or other provisions and (ii) income (loss) attributable to deferred compensation plans or
        trusts, (e) any gain or loss (less all fees and expenses relating thereto) realized upon sales or other dispositions of assets of the Company or such Restricted Subsidiary, other than in the ordinary course of business, (f) any after-tax effect of
        income (loss) from the early extinguishment of Debt or Hedging Obligations or other derivative instruments, (g) the cumulative effect of a change in accounting principles, (h) the effects from applying purchase accounting, including applying
        purchase accounting to inventory, property and equipment, software and other intangible assets and deferred revenue required or permitted by GAAP and related authoritative pronouncements, as a result of any other past or future acquisitions or the
        amortization or write-off of any amounts thereof, (i) any fees and expenses paid in connection with the Transactions, the Auto Care Transactions and the Battery Transactions and other unusual or non-recurring gains or losses or income or expenses
        in connection with the Transactions, the Auto Care Transactions and the Battery Transactions,  and (j) any restructuring charges and any fees, expenses and charges related to the Transactions and the Battery Transactions or any proposed or
        consummated equity offering, investment, acquisition, disposition, Incurrence of Debt or recapitalization.

       

      

      
        17

        
          

      

      Notwithstanding the foregoing, (i) for purposes of Section 4.05 only, there shall be excluded from Consolidated Net Income any dividends, repayment of loans or advances or other transfers of assets from Unrestricted
        Subsidiaries to the Company or a Restricted Subsidiary to the extent the dividends, repayments or transfers increase the amount of Restricted Payments permitted under that covenant pursuant to clause (c)(iv) thereof, and (ii) any net income (loss)
        of any Person (other than the Company) that is not a Restricted Subsidiary shall be excluded in calculating Consolidated Net Income, except that the Company’s equity in the net income of any such Person for any period shall be included without
        duplication, in such Consolidated Net Income up to the aggregate amount of cash distributed by the Person during such period to the Company or a Restricted Subsidiary as a dividend or distribution.

       

      

      “Consolidated Secured Leverage Ratio” means, as of any date of determination, the ratio of (a) the aggregate amount of all Debt of the Company and its Restricted Subsidiaries
        secured by Liens at the date of determination, other than secured Debt of the type described in clauses (c), (d) and (h) of the definition of Debt, less the amount of cash and Cash Equivalents that would be stated on a consolidated balance sheet of
        the Company and its Restricted Subsidiaries as of such date of determination (in each case on a pro forma basis reflecting any Incurrence of Debt and repayment of Debt made on such date) to (b) the aggregate amount of Consolidated EBITDA,
        determined on a pro forma basis, for the Company for the four full fiscal quarters, treated as one period, ending prior to the date of the transaction giving rise to the need to calculate the Consolidated Secured Leverage Ratio for which financial
        statements are required to be filed pursuant to Section 4.03.

       

        

      “Credit Agreement” means the amended and restated credit agreement entered into on December 22, 2020 by and among the Company, the lenders and issuing banks from time to time
        party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, as amended, restated, supplemented, modified, renewed, refunded, replaced (whether at maturity or thereafter) or Refinanced from time to time in one or more
        agreements (in each case with the same or new agents, lenders or institutional investors), including any agreement adding or changing the borrower or any guarantor or extending the maturity thereof or otherwise restructuring all or any portion of
        the Debt thereunder or increasing the amount loaned or issued thereunder or altering the maturity thereof.

       

      

      “Credit Facilities” means, with respect to the Company or any Restricted Subsidiary, (1) the facilities provided in the Credit Agreement and (2) one or more debt or commercial
        paper facilities (including related Guarantees) with banks, investment banks, insurance companies, mutual funds or other institutional lenders or investors providing for revolving credit loans, term loans, notes, receivables or inventory financing
        or other indebtedness (including through the sale of receivables or inventory to institutional lenders or to special purpose, bankruptcy remote entities formed to borrow from institutional lenders against those receivables or inventory); in each
        case together with any Refinancing thereof on any basis so long as such Refinancing constitutes Debt.

       

      

      
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      “Currency Exchange Protection Agreement” means, in respect of a Person, any foreign exchange contract, currency swap agreement, currency option or other similar agreement or
        arrangement designed to protect that Person against fluctuations in currency exchange rates.

       

      

      “Debt” means, with respect to any Person on any date of determination (without duplication):

        

      

      (a)          the principal of and premium (if any) in respect of:

       

      

      (1)          debt of the Person for money borrowed, and

       

      

      (2)          debt evidenced by notes, debentures, bonds or other similar instruments for the payment of which the Person is responsible or liable;

       

      

      (b)          all Capital Lease Obligations and Synthetic Lease Obligations of the Person and all Attributable Debt in respect of Sale and Leaseback Transactions entered into by the Person;

       

      

      (c)          all obligations of the Person issued or assumed as the deferred purchase price of Property, all conditional sale obligations of the Person and all obligations of the Person under any title retention
        agreement (but excluding trade accounts payable and accrued liabilities arising in the ordinary course of business);

       

      

      (d)          all obligations of the Person for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit transaction (other than obligations with respect to letters of credit that
        are not drawn upon or, if and to the extent drawn upon, the drawing is reimbursed no later than the third Business Day following receipt by the Person of a demand for reimbursement following payment on the letter of credit);

       

      

      (e)          the amount of all obligations of the Person with respect to the Repayment of any Disqualified Stock (but excluding any accrued dividends);

       

      

      (f)          all obligations of the type referred to in clauses (a) through (e) of other Persons and all dividends of other Persons for the payment of which, in either case, the Person is responsible or liable,
        directly or indirectly, as obligor, guarantor or otherwise, including by means of any Guarantee;

       

      

      (g)          all obligations of the type referred to in clauses (a) through (f) of other Persons secured by any Lien on any Property of the Person (whether or not such obligation is assumed by the Person), the amount
        of such obligation being deemed to be the lesser of the value of that Property or the amount of the obligation so secured;

       

      

      (h)          to the extent not otherwise included in this definition, Hedging Obligations of such Person (the amount of any such obligations to be equal at any time to the termination value of such agreement or
        arrangement giving rise to such obligations that would be payable by such person at such time); and

       

      

      
        19

        
          

      

      (i) the amount of any obligations under a Permitted Receivables Financing to which such Person is a party.

       

      

      Notwithstanding the foregoing, Debt shall not include any customary earn-out obligations or other contingent acquisition consideration until due and payable. The amount of Debt of any Person at any date shall be the
        outstanding balance at that date of all unconditional obligations as described above and the maximum liability, upon the occurrence of the contingency giving rise to the obligation, of any contingent obligations at that date.

        

      

      “Default” means any event which is, or after notice or passage of time or both would be, an Event of Default.

       

      

      “Definitive Note” means a certificated Note bearing, if required, the restricted securities legend set forth in Section 2.3(c) of Appendix A.

       

      

      “Derivative Instrument” means, with respect to any Person, any contract, instrument or other right to receive payment or delivery of cash or other assets to which such Person or
        any Affiliate of such Person that is acting in concert with such Person in connection with such Person’s investment in the notes (other than a Screened Affiliate) is a party (whether or not requiring further performance by such Person), the value
        and/or cash flows of which (or any material portion thereof) are materially affected by the value and/or performance of the notes and/or the creditworthiness of the Issuer and/or any one or more of the Guarantors (the “Performance References”).

        

      

      “Designated Non-Cash Consideration” means the Fair Market Value of non-cash consideration received by the Company or one of its Restricted Subsidiaries in connection with an
        Asset Sale that is so designated as Designated Non-Cash Consideration pursuant to an Officer’s Certificate, less the amount of cash and Cash Equivalents received in connection with a subsequent sale of such Designated Non-Cash Consideration.

       

      

      “Disqualified Stock” means, with respect to any Person, any Capital Stock that by its terms (or by the terms of any security into which it is convertible or for which it is
        exchangeable, in either case at the option of the holder thereof) or otherwise:

       

      

      (a)          matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise,

       

      

      (b)          is or may become redeemable or repurchaseable at the option of the holder thereof, in whole or in part, or

       

      

      (c)          is convertible or exchangeable at the option of the holder thereof for Debt or Disqualified Stock,

       

      

      
        20

        
          

      

      in each case, other than solely as a result of a change of control or asset sale, on or prior to, in the case of clause (a), (b) or (c), the date that is 91 days after the earlier of the Stated Maturity of the Notes and the date the Notes are no
        longer outstanding; provided that only the portion of the Capital Stock that so matures or is mandatorily redeemable, are so convertible or exchangeable or are so redeemable at the option of the holder
        thereof prior to such date shall be deemed to be Disqualified Stock; provided, further, that if such Capital Stock is issued to any employee or to any plan for the
        benefit of employees of such Person or its Restricted Subsidiaries or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because they may be required to be repurchased by such Person or any of its
        Restricted Subsidiaries in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s termination, death or disability; provided, further,
        that any class of Capital Stock of such person that by its terms authorizes such person to satisfy its obligations thereunder by delivery of Capital Stock that is not Disqualified Stock shall not be deemed to be Disqualified Stock.

       

      

      “Disqualified Stock Dividends” means all dividends with respect to Disqualified Stock of the Company or any Restricted Subsidiary held by Persons other than the Company or a
        Wholly Owned Restricted Subsidiary. The amount of any dividend of this kind shall be equal to the quotient of the dividend divided by the difference between one and the maximum statutory consolidated federal, state and local income tax rate
        (expressed as a decimal number between 1 and 0) then applicable to the issuer of the Disqualified Stock.

       

      

      “Domestic Restricted Subsidiary” means, a Restricted Subsidiary that is any direct or indirect Subsidiary of the Company that is organized under the laws of the United States,
        any state of the United States or the District of Columbia.

       

      

      “Electronic Means” shall mean the following communications methods: e-mail, facsimile transmission, secure electronic transmission containing applicable authorization codes,
        passwords and/or authentication keys issued by the Trustee, or another method or system specified by the Trustee as available for use in connection with its services hereunder.

       

      

      “Equity Offering” means (i) an underwritten public equity offering of Qualified Capital Stock of the Company pursuant to an effective registration statement under the Securities
        Act, or any direct or indirect parent company of the Company but only to the extent contributed to the Company in the form of Qualified Capital Stock of the Company or (ii) a private equity offering of Qualified Capital Stock of the Company, or any
        direct or indirect parent company of the Company but only to the extent contributed to the Company in the form of Qualified Capital Stock of the Company, other than any public offerings registered on Form S-8.

       

      

      “Euroclear” means Euroclear Bank SA/NV, or any successor securities clearing agency.

       

      

      
        21

        
          

      

      “Euro Government Obligations” means any security that is (i) a direct obligation of the Federal Republic of Germany or the Kingdom of the Netherlands, where the timely payment or
        payments thereunder are supported by the full faith and credit of the Federal Republic of Germany or the Kingdom of the Netherlands, respectively or (ii) an obligation of a person controlled or supervised by and acting as an agency or
        instrumentality of the Federal Republic of Germany or the Kingdom of the Netherlands, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the Federal Republic of Germany or the Kingdom of the Netherlands,
        respectively, which, in either case under the preceding clause (i) or (ii), is not callable or redeemable at the option of the issuer thereof.

       

      

      “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and regulations promulgated by the SEC thereunder.

       

      

      “Existing Notes” means (i) the 2028 Notes and (ii) the 2029 Notes.

        

      

      “Existing Notes Indentures” means (i) the 2028 Senior Notes Indenture and (ii) the 2029 Senior Notes Indenture.

       

      

      “Fair Market Value” means, with respect to any asset or liability, the fair market value of such asset or liability, as determined by an Officer of the Company in good faith.

       

      

      “Foreign Subsidiary” means any Restricted Subsidiary of the Company that is not a Domestic Restricted Subsidiary.

       

      

      “GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified
        Public Accountants and statements and pronouncements of the Financial Accounting Standards Board Accounting Standards Codification or in such other statements by such other entity as have been approved by a significant segment of the accounting
        profession, as in effect from time to time; provided that leases will be accounted for using the generally accepted accounting principles in the United States in effect for fiscal years ending on or before
        December 15, 2018 and any changes in the accounting for leases for fiscal years beginning after December 15, 2018 will be disregarded. For the purposes of this Indenture, the term “consolidated,” with respect to any Person, shall mean such Person
        consolidated with its Restricted Subsidiaries, and shall not include any Unrestricted Subsidiary, but the interest of such Person in an Unrestricted Subsidiary will be accounted for as an Investment.  If at any time the SEC permits or requires U.S.
        domiciled companies subject to the reporting requirements of the Exchange Act to use IFRS in lieu of GAAP for financial reporting purposes, the Company may elect by written notice to the Trustee to so use IFRS in lieu of GAAP and, upon any such
        notice, references herein to GAAP shall thereafter be construed to mean (a) for periods beginning on and after the date specified in such notice, IFRS as in effect on the date specified in such notice and as in effect from time to time (for all
        other purposes of this Indenture) and (b) for prior periods, GAAP as defined in the first sentence of this definition.

       

      

      “Global Note” means a Note in registered global form without interest coupons.

        

      

      
        22

        
          

      

      “Guarantee” means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any Debt of any other Person and any obligation, direct or indirect,
        contingent or otherwise, of that Person:

       

      

      (a)          to purchase or pay (or advance or supply funds for the purchase or payment of) the Debt of such other Person (whether arising by virtue of partnership arrangements, or by agreements to keep-well, to
        purchase assets, goods, securities or services, to take-or-pay or to maintain financial statement conditions or otherwise), or

       

      

      (b)          entered into for the purpose of assuring in any other manner the obligee against loss in respect thereof (in whole or in part);

       

      

      provided, however, that the term “Guarantee” shall not include:

       

        

      (1)          endorsements for collection or deposit in the ordinary course of business, or

       

      

      (2)          a contractual commitment by one Person to invest in another Person for so long as the Investment is reasonably expected to constitute a Permitted Investment under clause (a), (b) or (i) of the definition
        of “Permitted Investment.”

       

      

      The term “Guarantee” used as a verb has a corresponding meaning.

       

      

      “Guarantor” means the Company and each Restricted Subsidiary that executes a supplemental indenture in the form of Exhibit B to this Indenture providing for the guarantee of the
        payment of the Notes, and any successor obligor under its Note Guaranty pursuant to Article 5, unless and until such Guarantor is released from its Note Guaranty pursuant to this Indenture.

       

      

      “Hedging Obligation” of any Person means any obligation of that Person pursuant to any Interest Rate Agreement, Currency Exchange Protection Agreement, Commodity Price Protection
        Agreement, Permitted Mandatory Convertible Hedge Transaction or any other similar agreement or arrangement.

       

      

      “Holder” or “Noteholder” means the Person in whose name the Note is registered on the Note register described in Section 2.04.

       

      

      “Incur” means, with respect to any Debt or other obligation of any Person, to create, issue, incur (by merger, conversion, exchange or otherwise), extend, assume, Guarantee or
        become liable in respect of that Debt or other obligation or the recording, as required pursuant to GAAP or otherwise, of any Debt or obligation on the balance sheet of that Person (and “Incurrence” and “Incurred” shall have meanings correlative to the foregoing); provided, however, that a change in GAAP that results in an
        obligation of that Person that exists at such time, and is not theretofore classified as Debt, becoming Debt shall not be deemed an Incurrence of that Debt; provided further, however, that any Debt or other obligations of a Person existing at the time the Person becomes a Subsidiary (whether by merger, consolidation, acquisition or otherwise) shall be deemed to be Incurred by that Subsidiary at the
        time it becomes a Subsidiary; and provided further, however, that solely for purposes of determining compliance with Section 4.04, amortization of debt discount or
        premium shall not be deemed to be the Incurrence of Debt, provided that in the case of Debt sold at a discount or at a premium, the amount of the Debt Incurred shall at all times be the aggregate principal
        amount at Stated Maturity.

       

      

      
        23

        
          

      

      “Indenture” means this Indenture as amended or supplemented from time to time.

       

      

      “Independent Financial Advisor” means an investment banking firm of national standing or any third party appraiser of national standing, provided
        that the firm or appraiser is not an Affiliate of the Company.

       

      

      “Intellectual Property” means all intellectual property, proprietary or similar rights anywhere in the world, including any rights in or to all (a) patents and patent
        applications, including the inventions and improvements described and claimed therein, the reissues, divisions, continuations, renewals, extensions, and continuations in part thereof, (b) trade names, trademarks and service marks, logos, trademark
        and service mark registrations, and applications for trademark and service mark registrations, including all applications for registration and all renewals of registrations, together, in each case, with the goodwill of the business connected with
        the use thereof and symbolized thereby, (c) published and unpublished works of authorship, whether copyrightable or not (including software, website and mobile content, data, databases and other compilations of information), copyright registrations
        and applications for copyright registrations, including all renewals, restorations, reversions and extensions thereof, and (d) know-how, trade secrets and other proprietary or confidential information, in any form or medium, invention and invention
        disclosures, all documented research, developmental, demonstration or engineering work, and all other data and information related thereto.

       

      

      “Interest Rate Agreement” means, for any Person, any interest rate swap agreement, interest rate option agreement or other similar agreement or arrangement designed to protect
        against fluctuations in interest rates.

       

      

      “Investment” by any Person means any direct or indirect loan (other than advances to customers and suppliers in the ordinary course of business), advance or other extension of
        credit or capital contribution (by means of transfers of cash or other Property to others or payments for Property or services for the account or use of others, or otherwise) to, or Incurrence of a Guarantee of any obligation of, or purchase or
        acquisition of Capital Stock, bonds, notes, debentures or other securities or evidence of Debt issued by, any other Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor
        undertakes any Support Obligation with respect to Debt or other obligations of such other Person.  For purposes of Section 4.05, Section 4.10 and the definition of “Restricted Payment,” Investment shall include the portion (proportionate to the
        Company’s equity interest in the Subsidiary) of the Fair Market Value of the net assets of any Subsidiary of the Company at the time that the Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of that Subsidiary as a Restricted Subsidiary, the Company shall be deemed to continue to have a permanent Investment in an Unrestricted Subsidiary of an amount (if positive)
        equal to:

       

      

      
        24

        
          

      

      (a)          the Company’s Investment in that Subsidiary at the time of such redesignation, less

       

      

      (b)          the portion (proportionate to the Company’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of that Subsidiary at the time of such redesignation.

       

      

      In determining the amount of any Investment made by transfer of any Property other than cash, the Property shall be valued at its Fair Market Value at the time of the Investment.

       

      

      “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P or, in the event S&P or Moody’s
        shall cease rating the Notes (for reasons outside the control of the Issuer) the Issuer shall select any other Rating Agency, the equivalent of such ratings by such other Rating Agency.

       

      

      “Issue Date” means June 23, 2021.

       

      

      “Issuer” means Energizer Gamma Acquisition B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid)
        incorporated under the laws of The Netherlands, until a successor replaces such party pursuant to the applicable provisions hereof and, thereafter, means the successor.

       

      

       “Legal Holiday” means a Saturday, Sunday or other day on which banking institutions in New York, New York (or the city in which the corporate trust office of the Trustee is
        located) or London (or if the place of payment is outside the city of London, the place of such payment) are authorized or required by law to close.

       

      

      “Lien” means, with respect to any Property of any Person, any mortgage or deed of trust, pledge, hypothecation, assignment, deposit arrangement, security interest, lien, charge,
        easement (other than any easement not materially impairing usefulness or marketability), encumbrance, preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever on or with respect to that Property
        (including any Capital Lease Obligation, Synthetic Lease Obligation, conditional sale or other title retention agreement having substantially the same economic effect as any of the foregoing or any Sale and Leaseback Transaction).

       

      

      “Limited Condition Transaction” means (i) any Investment or acquisition (whether by merger, amalgamation, consolidation or other business combination or the acquisition of
        Capital Stock or otherwise) whose consummation is not conditioned on the availability of, or on obtaining, third party financing, (ii) any redemption, repurchase, defeasance, satisfaction and discharge or repayment of Debt, Disqualified Stock or
        Preferred Stock requiring irrevocable notice in advance of such redemption, repurchase, defeasance, satisfaction and discharge or repayment and (iii) any Restricted Payment requiring irrevocable notice in advance thereof.

       

      

      
        25

        
          

      

      “Long Derivative Instrument” means a Derivative Instrument (i) the value of which generally increases, and/or the payment or delivery obligations under which generally decrease,
        with positive changes to the Performance References and/or (ii) the value of which generally decreases, and/or the payment or delivery obligations under which generally increase, with negative changes to the Performance References.

       

      

      “Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business thereof.

       

      

      “Net Available Cash” from any Asset Sale means cash payments received therefrom (including any cash payments received upon the sale or other disposition of any Designated
        Non-Cash Consideration received in any Asset Sale, any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding any other consideration
        received in the form of assumption by the acquiring Person of Debt or other obligations relating to the Property that is the subject of that Asset Sale or received in any other non-cash form), in each case net of:

       

      

      (a)          all legal, title and recording tax expenses, commissions and other fees (including, without limitation, brokers’ or investment bankers’ commissions or fees) and expenses incurred, and all federal, state,
        provincial, foreign and local taxes required to be accrued as a liability under GAAP, as a consequence of the Asset Sale,

       

      

      (b)          all payments made on any Debt that is secured by any Property subject to the Asset Sale, in accordance with the terms of any Lien upon or other security agreement of any kind with respect to that Property,
        or which must by its terms, or in order to obtain a necessary consent to the Asset Sale, or by applicable law, be repaid out of the proceeds from the Asset Sale,

       

      

      (c)          all distributions and other payments required to be made to noncontrolling interest holders in Subsidiaries or joint ventures as a result of the Asset Sale, and

        

      

      (d)          the deduction of appropriate amounts provided by the seller as a reserve, in accordance with GAAP, against any liabilities associated with the Property disposed in the Asset Sale and retained by the
        Company or any Restricted Subsidiary after the Asset Sale,

       

      

      provided, that, to the extent that any portion of the consideration for an Asset Sale is required by contract to be held in a
          separate escrow or deposit account to support indemnification, adjustment of purchase price or similar obligations, such portion of the consideration shall become Net Available Cash only at such time as it is released to the Company or a
          Restricted Subsidiary from the escrow or deposit account.

       

        

      
        26

        
          

      

      “Net Cash Proceeds” means with respect to any incurrence or issuance of Debt, the aggregate principal amount actually received in cash by the Company or any Restricted Subsidiary
        in connection therewith, net of direct costs (including legal, accounting and investment banking fees and expenses, sales brokerage commissions and underwriting discounts).

        

      

      “Net Short” means, with respect to a holder or beneficial owner, as of a date of determination, either (i) the value of  its Short Derivative Instruments exceeds the sum of the
        (x) the value of its Notes plus (y) the value of its Long Derivative Instruments as of such date of determination or (ii) it is reasonably expected that such would have been the case were a Failure to Pay or Bankruptcy Credit Event (each as defined
        in the 2014 International Swaps and Derivatives Association, Inc. Credit Derivatives Definitions) to have occurred with respect to the Issuer or any Guarantor immediately prior to such date of determination.

       

      

      “Note Guaranty” means the guaranty
          of the Notes by a Guarantor pursuant to this Indenture.

       

        

      “Noteholder” has the meaning ascribed to it under the definition of “Holder.”

        

      

      “Offering Memorandum” means the final offering memorandum relating to the offering of the Original Notes dated on June 9, 2021.

       

      

      “Officer” means, with respect to any Person, the Chief Executive Officer, the Chief Financial Officer, Vice Chairman, any President, the Chief Accounting Officer, any Executive
        Vice President, any Senior Vice President, any Vice President, the Treasurer, the Secretary of such Person or any other officer or individual designated by the Board of Directors of such Person.

       

      

      “Officer’s Certificate” means, with respect to any Person, a certificate signed by an Officer of such Person and delivered to the Trustee.

       

      

      “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the Trustee. The counsel may be an employee of or counsel to the Company or the Issuer.

        

      

      “Parent Entity” means any Person that, with respect to another Person, owns 50% or more of (i) with respect to any corporation, association or other business entity (other than a
        partnership joint venture, limited liability company or similar entity), the total ordinary voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
        trustees thereof (or Persons performing similar functions) or (ii) with respect to any partnership, joint venture, limited liability company or similar entity, the capital accounts, distribution rights, total equity and voting interests or general
        or limited partnership interests, as applicable, and, in the case of clauses (i) and (ii), owns or controls, directly or indirectly (including through one or more Subsidiaries), such other Person. Unless the context otherwise requires, any
        references to Parent Entity refer to a Parent Entity of the Issuer.

       

      

      “Permitted Business” means any business that is reasonably similar, ancillary, complementary or related to, or a reasonable extension, development or expansion of, the businesses
        in which the Company and its Restricted Subsidiaries are engaged in on the Issue Date.

       

      

      
        27

        
          

      

      “Permitted Investment” means any Investment by the Company or a Restricted Subsidiary in:

       

      

      (a)          any Restricted Subsidiary or any Person that will, upon the making of such Investment, become a Restricted Subsidiary, provided that the primary business of the
        Restricted Subsidiary is a Permitted Business;

       

      

      (b)          any Person if as a result of the Investment that Person is merged or consolidated with or into, or transfers or conveys all or substantially all its Property to, the Company or a Restricted Subsidiary, provided that the primary business of the Restricted Subsidiary is a Permitted Business;

       

      

      (c)          cash, Cash Equivalents and Temporary Cash Investments;

       

      

      (d)          commission, payroll, travel and similar advances to cover matters that are expected at the time of those advances ultimately to be treated as expenses for accounting purposes and that are made in the
        ordinary course of business;

       

      

      (e)          loans and advances to directors, officers and employees (i) made in the ordinary course of business (provided that those loans and advances do not exceed $7.5
        million, at any one time outstanding) or (ii) to finance the purchase of Capital Stock of the Company, in compliance with applicable laws (provided that those loans and advances do not exceed $15.0 million, at any one time outstanding);

       

      

      (f)          stock, obligations or other securities received in settlement of debts created in the ordinary course of business and owing to the Company or a Restricted Subsidiary or in satisfaction of judgments;

       

      

      (g)          any Person or asset to the extent the Investment represents the non-cash portion of the consideration received in connection with an Asset Sale consummated in compliance with Section 4.07;

       

      

      (h)          Hedging Obligations permitted under clauses (v), (vi), (vii) or (xv) of the definition of “Permitted Debt” in Section 4.04;

       

      

      (i)          customers or suppliers of the Company or any of its Subsidiaries in the form of extensions of credit or transfers of Property, to the extent otherwise constituting an Investment, and in the ordinary course
        of business and any Investments received in the ordinary course of business in satisfaction or partial satisfaction thereof;

       

      

      (j)          any Person or asset if the Investments (or binding commitments in respect thereof) are outstanding on the Issue Date; provided that the amount of any such
        Investment may be increased (x) as required by the terms of such Investment or binding commitment, in each case, as in existence on the Issue Date or (y) as otherwise permitted hereunder;

       

      

      
        28

        
          

      

      (k)          any securities, derivative instruments or other Investments of any kind that are acquired and held for the benefit of the Company employees in the ordinary course of business pursuant to deferred
        compensation plans or arrangements approved by the Board of Directors; provided, however, that (i) the amount of such Investment represents funds paid or payable in
        respect of deferred compensation previously included as an expense in the calculation of Consolidated Net Income (and not excluded pursuant to clause (f) of the definition of “Consolidated Net Income”), and (ii) the terms of such Investment shall
        not require any additional Investment by the Company or any Restricted Subsidiary;

       

      

      (l)          any Person or asset in an aggregate amount outstanding not to exceed the greater of (x) $330.0 million or (y) 50% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four
        consecutive fiscal quarters, determined on a pro forma basis, plus the amount of any distributions, dividends, payments or other returns in respect of such Investments; provided, that if any Investment
        pursuant to this clause (l) is made in any Person that is not a Restricted Subsidiary at the date of the making of such Investment and such Person becomes a Restricted Subsidiary after such date, such Investment shall thereafter be deemed to have
        been made pursuant to clause (a) above and shall cease to have been made pursuant to this clause (l);

       

      

      (m)          any Investment acquired in exchange for shares of Capital Stock of the Company (other than Disqualified Stock); provided that the proceeds of such issuance shall
        be excluded from the definition of “Capital Stock Sale Proceeds”;

       

      

      (n)          any receivable owing to the Company or any Restricted Subsidiary created or acquired in the ordinary course of business and payable or dischargeable in accordance with customary trade terms; provided that such trade terms may include such concessionary trade terms as the Company or any such Restricted Subsidiary deems reasonable under the circumstances;

       

      

      (o)          any Investment (i) in exchange for any other Investment or accounts receivable held by the Company or any such Restricted Subsidiary in connection with or as a result of bankruptcy, workout, reorganization
        or recapitalization of any Restricted Subsidiary of such other Investment or accounts receivable, (ii) in satisfaction of judgments or in compromise, settlement or resolution of any litigation, arbitration or other dispute, or (iii) as a result of
        a foreclosure by the Company or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured Investment in default;

       

      

      (p)          Guarantees of Debt issued in accordance with Section 4.04;

       

      

      (q)          Investments made in connection with the funding of contributions under any nonqualified retirement plan or similar employee compensation plan in an amount not to exceed the amount of compensation expense
        recognized by the Company and its Restricted Subsidiaries in connection with such plans;

       

      

      
        29

        
          

      

      (r)          Investments in any Person engaged in a Permitted Business in an aggregate amount outstanding not to exceed the greater of (x) $175.0 million or (y) 25% of the Company’s aggregate amount of Consolidated
        EBITDA for the most recent four consecutive fiscal quarters, determined on a pro forma basis, plus the amount of any distributions, dividends, payments or other returns in respect of such Investments; provided,
        that if any Investment pursuant to this clause (r) is made in any Person that is not a Restricted Subsidiary at the date of the making of such Investment and such Person becomes a Restricted Subsidiary after such date, such Investment shall
        thereafter be deemed to have been made pursuant to clause (a) above and shall cease to have been made pursuant to this clause (r);

       

      

      (s)          Investments in joint ventures in an aggregate amount outstanding not to exceed the greater of (x) $175.0 million or (y) 25% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four
        consecutive fiscal quarters, determined on a pro forma basis, plus the amount of any distributions, dividends, payments or other returns in respect of such Investments;

       

      

      (t)           Investments in Unrestricted Subsidiaries in an aggregate amount outstanding not to exceed the greater of (x) $175.0 million or (y) 25% of the Company’s aggregate amount of Consolidated EBITDA for the most
        recent four consecutive fiscal quarters, determined on a pro forma basis, plus the amount of any distributions, dividends, payments or other returns in respect of such Investments;

       

      

      (u)          Debt in respect of overdraft facilities, employee credit card programs and other cash management arrangements in the ordinary course of business;

       

      

      (v)          Investments in a Securitization Subsidiary that are necessary or desirable to effect any Permitted Receivables Financing;

       

      

      (w)          any Investment, if on a pro forma basis after giving effect to such Investment, the Consolidated Leverage Ratio would not be greater than 4.00 to 1.00;

       

      

      (x)          the Notes, the Existing Notes or obligations under any Credit Facility (including the Credit Agreement);

       

      

      (y)          Investments consisting of granting licenses, covenants not to sue, releases or other similar rights or immunities granted with respect to Intellectual Property in the ordinary course of business or which,
        in the business judgment of the Company or the applicable Restricted Subsidiary, do not materially interfere with the business of the Company and Restricted Subsidiaries as a whole; and

       

      

      (z)          any transaction to the extent it constitutes an Investment that is permitted by and made in accordance with the provisions of the second paragraph (other than paragraphs (g), (i) and (l) thereunder) under
        Section 4.09.

       

      

      For the avoidance of doubt, any Investment that is a Permitted Investment hereunder may be transferred to the Company or another Restricted Subsidiary, or exchanged for other assets of the Company or another Restricted
        Subsidiary.

       

      

      
        30

        
          

      

      “Permitted Liens” means:

       

      

      (a)          Liens (including, without limitation and to the extent constituting a Lien, negative pledges) to secure Debt Incurred under clause (ii) of the definition of “Permitted Debt” in Section 4.04, regardless of
        whether the Company and the Restricted Subsidiaries are actually subject to Section 4.04 at the time the Lien is Incurred;

       

      

      (b)          Liens for taxes, assessments or governmental charges or levies on the Property of the Company or any Restricted Subsidiary and deposits in respect thereof if the same shall not at the time be delinquent or
        thereafter can be paid without penalty, or are being contested in good faith and by appropriate proceedings promptly instituted and diligently concluded, provided that any reserve or other appropriate
        provision that shall be required in conformity with GAAP shall have been made therefor;

       

      

      (c)          Liens imposed by law, such as carriers’, warehousemen’s, materialmen’s, repairmen’s and mechanics’ Liens and other similar Liens, on the Property of the Company or any Restricted Subsidiary arising in the
        ordinary course of business and securing payment of obligations that are not more than 60 days past due or are being contested in good faith and by appropriate proceedings;

       

      

      (d)          Liens on the Property of the Company or any Restricted Subsidiary Incurred in the ordinary course of business to secure performance of obligations with respect to statutory or regulatory requirements,
        performance or return-of-money bonds, surety bonds or other obligations of a like nature and Incurred in a manner consistent with industry practice, including banker’s liens and rights of set-off, in each case which are not Incurred in connection
        with the borrowing of money, the obtaining of advances or credit or the payment of the deferred purchase price of Property and which do not in the aggregate impair in any material respect the use of Property in the operation of the business of the
        Company and the Restricted Subsidiaries taken as a whole;

       

      

      (e)          Liens on Property at the time the Company or any Restricted Subsidiary acquired the Property, including Property acquired pursuant to the Auto Care Acquisition, the Battery Acquisition or any other
        acquisition by means of a merger or consolidation with or into the Company or any Restricted Subsidiary; provided, however, that any Lien of this kind may not
        extend to any other Property of the Company or any Restricted Subsidiary; provided further, however, that the Liens shall not have been Incurred in anticipation of
        or in connection with the transaction or series of transactions pursuant to which the Property was acquired by the Company or any Restricted Subsidiary;

       

      

      (f)          Liens on the Property of a Person at the time that Person becomes a Restricted Subsidiary; provided, however, that any
        Lien of this kind may not extend to any other Property of the Company or any other Restricted Subsidiary that is not a direct Subsidiary of that Person (other than after-acquired property that is (a) affixed or incorporated into the property
        covered by such Lien, (b) subject to a Lien securing such Debt, the terms of which Debt requires or includes a pledge of after-acquired property and (c) the proceeds and products thereof); provided further,
        however, that the Lien was not Incurred in anticipation of or in connection with the transaction or series of transactions pursuant to which the Person became a Restricted Subsidiary;

       

      

      
        31

        
          

      

      (g)          pledges or deposits by the Company or any Restricted Subsidiary under workers’ compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection with bids,
        tenders, contracts (other than for the payment of Debt) or leases to which the Company or any Restricted Subsidiary is party, or deposits to secure public or statutory obligations of the Company or any Restricted Subsidiary, or deposits for the
        payment of rent, in each case Incurred in the ordinary course of business;

       

      

      (h)          Liens (including, without limitation and to the extent constituting Liens, negative pledges), assignments and pledges of rights to receive premiums, interest or loss payments or otherwise arising in
        connection with workers’ compensation loss portfolio transfer insurance transactions or any insurance or reinsurance agreements pertaining to losses covered by insurance, and Liens (including, without limitation and to the extent constituting
        Liens, negative pledges) in favor of insurers or reinsurers on pledges or deposits by the Company or any Restricted Subsidiary under workmen’s compensation laws, unemployment insurance laws or similar legislation;

        

      

      (i)          Liens of landlords on fixtures, equipment and movable property located on leased premises and utility easements, building restrictions and such other encumbrances or charges against real Property as are of
        a nature generally existing with respect to properties of a similar character;

       

      

      (j)          Liens arising out of judgments or awards against the Company or a Restricted Subsidiary with respect to which the Company or the Restricted Subsidiary shall then be proceeding with an appeal or other
        proceeding for review;

       

      

      (k)          Liens in favor of issuers of performance, stay, appeal, indemnification, surety or similar bonds, completion guarantees or letters of credit issued pursuant to the request of and for the account of the
        Company or a Restricted Subsidiary in the ordinary course of its business, provided that these letters of credit do not constitute Debt;

       

      

      (l)          leases or subleases of real property granted by the Company or a Restricted Subsidiary to any other Person and not interfering in any material respect with the business of the Company and its Subsidiaries,
        taken as a whole;

       

      

      (m)          licenses, covenants not to sue, releases or other similar rights or immunities granted with respect to Intellectual Property in the ordinary course of business or which, in the business judgment of the
        Company or the applicable Restricted Subsidiary, do not materially interfere with the business of the Company and Restricted Subsidiaries as a whole;

       

      

      (n)          Liens or negative pledges attaching to or related to joint ventures engaged in a Permitted Business;

       

      

      (o)          Liens existing on the Issue Date not otherwise described in clause (a) above;

       

      

      
        32

        
          

      

      (p)          Liens securing Debt Incurred pursuant to clause (xii) of the definition of “Permitted Debt” in Section 4.04 on the Property purchased with the proceeds of such Debt;

       

      

      (q)          Liens on the Property of the Company or any Restricted Subsidiary to secure any Refinancing, in whole or in part, of any Debt secured by Liens referred to in clause (e), (f), (o) or (p) above or (x) below;
        provided, however, that any Lien of this kind shall be limited to all or part of the same Property that secured the original Lien (together with improvements and
        accessions to such Property) and the aggregate principal amount of Debt that is secured by the Lien shall not be increased to an amount greater than the sum of:

       

      

      (1)          the outstanding principal amount, or, if greater, the committed amount, of the Debt secured by Liens described under clause (e), (f), (o) or (p) above or (x) below, as the case may be,
        at the time the original Lien became a Permitted Lien this Indenture, and

       

      

      (2)          an amount necessary to pay the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, premiums and other costs and expenses incurred in connection with such
        Refinancing;

       

      

      (r)          Liens on cash or Temporary Cash Investments held as proceeds of Permitted Refinancing Debt pending the payment, purchase, defeasance or other retirement of the Debt being Refinanced;

       

      

      (s)          Liens securing obligations with an aggregate principal amount not to exceed the greater of (x) $330.0 million or (y) 50% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four
        consecutive fiscal quarters, determined on a pro forma basis, at any one time outstanding;

       

      

      (t)           Liens securing Hedging Obligations permitted under clause (v), (vi), (vii) or (xv) of the definition of “Permitted Debt” in Section 4.04;

       

      

      (u)          Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods;

       

      

      (v)          Liens on escrowed proceeds for the benefit of the related holders of debt securities or other Debt (or the underwriters or arrangers thereof) or on cash set aside at the time of the Incurrence of any Debt
        or government securities purchased with such cash, in either case to the extent such cash or government securities prefund the payment of interest on such Debt and are held in an escrow account or similar arrangement to be applied for such purpose;

       

      

      (w)         Liens on escrow accounts created for the benefit of or to secure, directly or indirectly, the Notes or the Credit Agreement;

       

      

      
        33

        
          

      

      (x)          Liens (including, without limitation and to the extent constituting a Lien, negative pledges) to secure Debt so long as on a pro forma basis the Consolidated Secured Leverage Ratio does not exceed 3.75 to
        1.00;

       

      

      (y)          Liens (1) securing Debt Incurred pursuant to clauses (xi) or (xiv) of the definition of “Permitted Debt” in Section 4.04 or (2) on assets of a Foreign Subsidiary securing Debt of a Foreign Subsidiary;

       

      

      (z)          Liens arising from Uniform Commercial Code financing statement filings regarding operating leases entered into by the Company and its Restricted Subsidiaries in the ordinary course of business;

       

      

      (aa)        any interest or title of a lessor under any Capital Lease Obligation or operating lease;

       

      

      (bb)        Liens (i) of a collection bank arising under Section 4-208 of the Uniform Commercial Code or any comparable or successor provision on items in the course of collection, (ii) attaching to pooling, commodity
        trading accounts or other commodity brokerage accounts incurred in the ordinary course of business and (iii) in favor of banking or other financial institutions or electronic payment service providers arising as a matter of law encumbering deposits
        (including the right of set-off) and which are within the general parameters customary in the banking or finance industry;

       

      

      (cc)        Liens solely on any cash earnest money deposits made by Company or any of its Restricted Subsidiaries in connection with any letter of intent or purchase agreement permitted under this Indenture;

       

      

      (dd)        Liens on property or assets used to defease or to irrevocably satisfy and discharge Debt; provided that such defeasance or satisfaction and discharge is not
        prohibited by this Indenture;

       

      

      (ee)        Liens in connection with the sale or transfer of any equity interests or other assets in a transaction permitted under this Indenture, customary rights and restrictions contained in agreements relating to
        such sale or transfer pending the completion thereof;

       

      

      (ff)         Liens on accounts receivable and related assets and proceeds thereof arising in connection with a Permitted Receivables Financing;

       

      

      (gg)        Liens arising from Uniform Commercial Code financing statement filings regarding supply chain finance programs or other receivables sale transactions in the ordinary course of business;

       

      

      (hh)        Liens on the Capital Stock of an Unrestricted Subsidiary; and

       

      

      (ii)          Liens securing Debt of Restricted Subsidiaries that are not Guarantors.

       

      

      
        34

        
          

      

      “Permitted Mandatory Convertible Hedge Transactions” means any call option or capped call option (or substantively equivalent derivative transaction) on the Company’s common
        stock (or other securities or property following a merger event, reclassification or other change of the common stock of the Company) purchased by the Company in connection with the 2019 Preferred Stock Offering and any call option or capped call
        option (or substantively equivalent derivative transaction) replacing or Refinancing the foregoing.

        

      

      “Permitted Receivables Financing” means any receivables financing facility or arrangement pursuant to which a Securitization Subsidiary purchases or otherwise acquires accounts
        receivable of the Company or any Restricted Subsidiaries and enters into a third party financing thereof on terms that the Board of Directors has concluded are customary and market terms fair to the Company and its Restricted Subsidiaries.

       

      

      “Permitted Refinancing Debt” means any Debt that Refinances any other Debt, including any successive Refinancings, so long as:

       

      

      (a)          the new Debt is in an aggregate principal amount (or if Incurred with original issue discount, an aggregate issue price) not in excess of the sum of:

       

      

      (1)          the aggregate principal amount (or if Incurred with original issue discount, the aggregate accreted value) then outstanding of the Debt being Refinanced, and

       

      

      (2)          an amount necessary to pay the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, premiums and other costs and expenses incurred in connection with such
        Refinancing,

       

      

      (b)          the Average Life of the new Debt is equal to or greater than the Average Life of the Debt being Refinanced,

       

      

      (c)          the Stated Maturity of the new Debt is no earlier than the Stated Maturity of the Debt being Refinanced, and

       

      

      (d)          the new Debt shall not be senior in right of payment to the Debt that is being Refinanced;

       

      

      provided, however, that Permitted Refinancing Debt shall not include:

       

        

      (x)          Debt of a Subsidiary that is not a Guarantor that Refinances Debt of the Issuer or any Guarantor, or

       

      

      (y)          Debt of the Company or a Restricted Subsidiary that Refinances Debt of an Unrestricted Subsidiary.

        

      

      “Person” means any individual, corporation, company (including any limited liability company), association, partnership, joint venture, trust, unincorporated organization,
        government or any agency or political subdivision thereof or any other entity.

        

      

      
        35

        
          

      

      “Preferred Stock” means any Capital Stock of a Person, however designated, which entitles the holder thereof to a preference with respect to the payment of dividends, or as to
        the distribution of assets upon any voluntary or involuntary liquidation or dissolution of that Person, over shares of any other class of Capital Stock issued by that Person.

       

      

      “Productive Assets” means assets (other than securities and inventory) that are used or usable by the Company and its Restricted Subsidiaries in Permitted Businesses.

       

      

      “pro forma basis” means, with respect to any Person, for any events occurring subsequent to the commencement of a period for which the financial effect of such events is being
        calculated, and giving effect to the events for which such calculation is being made, such calculation as will give pro forma effect to such events as if such events occurred on the first day of the relevant period, taking into account the
        following adjustments:

       

      

      (a)          if the Company or any Restricted Subsidiary issues, Incurs, assumes, repays, repurchases or redeems any Debt, Disqualified Stock or Preferred Stock (including Debt issued, Incurred or assumed as a result
        of, or to finance, any relevant transactions and for which the financial effect is being calculated) during or subsequent to the relevant period and on or prior to or simultaneously with the date upon which the applicable event requiring any
        calculation to be made on a pro forma basis occurs, such calculation shall be made giving pro forma effect to such issuance, Incurrence, assumption, repayment, repurchase or redemption of Debt, Disqualified Stock or Preferred Stock, as if it had
        occurred on the first day of the relevant period;

       

      

      (b)          any Investments, Restricted Payments, acquisitions, dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP) and any operational changes,
        business realignment projects or initiatives, restructurings or reorganizations that the Company or any Restricted Subsidiary has determined to make and/or made during or subsequent to the relevant period and on or prior to or simultaneously with
        the date upon which the applicable event requiring any calculation to be made on a pro forma basis occurs, such calculation shall be made giving pro forma effect to such Investments, Restricted Payments, acquisitions, dispositions, mergers,
        amalgamations, consolidations, discontinued operations and other operational changes, business realignment projects or initiatives, restructurings or reorganizations (and the change of any associated fixed charge obligations and the change in
        Consolidated EBITDA resulting therefrom), as if they had occurred on the first day of the relevant period;

       

      

      
        36

        
          

      

      (c)          if since the beginning of the relevant period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary since the beginning of such
        period shall have made any Investment, acquisition, disposition, merger, consolidation, amalgamation, discontinued operation, operational change, business realignment project or initiative, restructuring or reorganization that would have required
        adjustment pursuant to this definition, any calculation to be made on a pro forma basis shall be made giving pro forma effect to such Investment, acquisition, disposition, merger, amalgamation, consolidation, discontinued operation, operational
        change, business realignment project or initiative, restructuring or reorganization as if they had occurred on the first day of the relevant period; and

       

      

      (d)          if since the beginning of such period any Restricted Subsidiary is designated an Unrestricted Subsidiary or any Unrestricted Subsidiary is designated a Restricted Subsidiary, then any calculation to be
        made on a pro forma basis shall be made giving pro forma effect to such designation as if it had occurred on the first day of the relevant period.

       

      

      Pro forma calculations made pursuant to this definition shall be determined in good faith by the Company and may include cost savings (including, without limitation, cost savings, workforce reductions and facility,
        benefit and insurance savings), operating expense reductions, other operating improvements, initiatives and synergies that are reasonably identifiable and factually supportable and reasonably expected to result within 24 months following the
        consummation of the relevant event requiring any calculation to be made on a pro forma basis.

       

      

      If any Debt, Disqualified Stock or Preferred Stock bears a floating rate of interest and is being given pro forma effect, the interest on such Debt, Disqualified Stock or Preferred Stock shall be computed on a pro
        forma basis as if the rates that would have been in effect during the period for which pro forma effect is being given had been actually in effect during such periods (taking into account any Hedging Obligations applicable to such Debt if such
        Hedging Obligation has a remaining term in excess of 12 months). Interest on a Capital Lease Obligation or Synthetic Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting
        officer of the Company to be the rate of interest implicit in such Capital Lease Obligation or Synthetic Lease Obligation in accordance with GAAP. For purposes of making any calculation on a pro forma basis, interest on any Debt under a revolving
        credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such Debt during the applicable period. Interest on Debt that may optionally be determined at an interest rate based upon a factor of a prime or
        similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate.

       

      

      For purposes of this definition, any amount in a currency other than U.S. Dollars will be converted to U.S. Dollars based on the average exchange rate for such currency for the most recent twelve month period
        immediately prior to the calculation date.

       

      

      “Property” means, with respect to any Person, any interest of that Person in any kind of property, plant, equipment or other asset, whether real, personal or mixed, or tangible
        or intangible, including Capital Stock in, and other securities of, any other Person. For purposes of any calculation required pursuant to this Indenture, the value of any Property shall be its Fair Market Value.

       

      

      
        37

        
          

      

      “Purchase Money Debt” means Debt:

       

      

      (a)          consisting of the deferred purchase price of property, conditional sale obligations, obligations under any title retention agreement, other purchase money obligations and obligations in respect of
        industrial revenue bonds, in each case where the maturity of the Debt does not exceed the anticipated useful life of the Property being financed, and

       

      

      (b)          Incurred to finance the acquisition, construction or lease by the Company or a Restricted Subsidiary of the Property, including additions and improvements thereto;

       

      

      provided, however, that the Debt is Incurred within 365 days after the acquisition,
          construction or lease of the Property by the Company or Restricted Subsidiary.

       

        

      “Qualified Capital Stock” means any Capital Stock that is not Disqualified Stock.

       

      

      “Rating Agencies” means Moody’s and S&P, and if S&P or Moody’s or both shall not make a rating on the Notes publicly available (for reasons outside the control of the
        Issuer), a statistical rating agency or agencies, as the case may be, nationally recognized in the United States and selected by the Issuer (as certified by a resolution of the Board of Directors of the Issuer) which shall be substituted for
        S&P or Moody’s, or both, as the case may be.

       

      

      “Refinance” means, in respect of any Debt, to refinance, extend, renew, refund, repay, prepay, repurchase, redeem, defease or retire, or to issue other Debt, in exchange or
        replacement for, that Debt. “Refinanced” and “Refinancing” shall have correlative meanings.

       

      

      “Repay” means, in respect of any Debt, to repay, prepay, repurchase, redeem, legally defease or otherwise retire that Debt. “Repayment”
        and “Repaid” shall have correlative meanings. For purposes of Section 4.04 and Section 4.07 and the definition of “Consolidated Fixed Charges Coverage Ratio,” Debt shall be considered to have been Repaid only
        to the extent the related loan commitment, if any, shall have been permanently reduced in connection therewith.

       

      

      “Restricted Payment” means:

       

      

      (a)          any dividend or distribution (whether made in cash, securities or other Property) declared or paid on or with respect to any shares of Capital Stock of the Company or any Restricted Subsidiary (including
        any payment in connection with any merger or consolidation with or into the Company or any Restricted Subsidiary), except for any dividend or distribution that is made to the Company or the parent of the Restricted Subsidiary or any dividend or
        distribution payable solely in shares of Capital Stock (other than Disqualified Stock) of the Company;

       

      

      
        38

        
          

      

      (b)          the purchase, repurchase, redemption, acquisition or retirement for value of any Capital Stock of the Company or any Restricted Subsidiary (other than from the Company or a Restricted Subsidiary) or any
        securities exchangeable for or convertible into Capital Stock of the Company or any Restricted Subsidiary, including the exercise of any option to exchange any Capital Stock (other than for or into Capital Stock of the Company that is not
        Disqualified Stock);

       

      

      (c)          the purchase, repurchase, redemption, acquisition or retirement for value, prior to the date for any scheduled maturity, sinking fund or amortization or other installment payment, of any Subordinated
        Obligation (other than (i) any Subordinated Obligation Incurred under clause (iii) of the definition of “Permitted Debt” in Section 4.04 and (ii) the purchase, repurchase or other acquisition of any Subordinated Obligation purchased in anticipation
        of satisfying a scheduled maturity, sinking fund or amortization or other installment obligation, in each case under this subclause (ii) due within one year of the date of acquisition); or

        

      

      (d)          any Investment (other than Permitted Investments) in any Person.

       

      

      “Restricted Subsidiary” means any Subsidiary of the Company (including the Issuer) other than an Unrestricted Subsidiary.

       

      

      “S&P” means S&P Global Ratings, a division of S&P Global Inc., or any successor to the rating agency business thereof.

       

      

      “Sale and Leaseback Transaction” means any direct or indirect arrangement relating to Property now owned or hereafter acquired whereby the Company or a Restricted Subsidiary
        transfers that Property to another Person and the Company or a Restricted Subsidiary leases it from that other Person together with any Refinancings thereof.

       

      

      “Screened Affiliate” means any Affiliate of a Holder (i) that makes investment decisions independently from such Holder and any other Affiliate of such Holder that is not a
        Screened Affiliate, (ii) that has in place customary information screens between it and such Holder and any other Affiliate of such Holder that is not a Screened Affiliate and such screens prohibit the sharing of information with respect to the
        Company or its Subsidiaries, (iii) whose investment policies are not directed by such Holder or any other Affiliate of such Holder that is acting in concert with such Holder in connection with its investment in the Notes, and (iv) whose investment
        decisions are not influenced by the investment decisions of such Holder or any other Affiliate of such Holder that is acting in concert with such Holder in connection with its investment in the Notes.

       

      

      “SEC” means the U.S. Securities and Exchange Commission.

       

      

      “Securities Act” means the U.S. Securities Act of 1933, as amended, or any successor statute, and the rules and regulations promulgated by the SEC thereunder.

       

      

      
        39

        
          

      

      “Securitization Subsidiary” means a Subsidiary of the Company:

       

      

      (1)          that is designated a “Securitization Subsidiary” by the Board of Directors,

       

      

      (2)          that does not engage in, and whose charter prohibits it from engaging in, any activities other than Permitted Receivables Financings and any activity necessary, incidental or related thereto,

       

      

      (3)          no portion of the Debt or any other obligation, contingent or otherwise, of which:

       

      

      (A)         is Guaranteed by the Company or any Restricted Subsidiary of the Company,

       

      

      (B)         is recourse to or obligates the Company or any Restricted Subsidiary of the Company in any way, or

       

      

      (C)         subjects any property or asset of the Company or any Restricted Subsidiary of the Company, directly or indirectly, contingently or otherwise, to the satisfaction thereof,

       

      

      (4)          with respect to which neither the Company nor any Restricted Subsidiary of the Company (other than an Unrestricted Subsidiary) has any obligation to maintain or preserve such its financial condition or
        cause it to achieve certain levels of operating results,

       

      

      other than, in respect of clauses (3) and (4), pursuant to customary representations, warranties, covenants and indemnities entered into in connection with a Permitted Receivables Financing.

       

      

      “Separation” means the separation of the household products business from Edgewell Personal Care Company (formerly known as Energizer Holdings, Inc.) by the distribution of all
        of the Company’s issued and outstanding shares of common stock to the shareholders of Edgewell Personal Care Company on substantially the terms described in “The Separation and Distribution” section of the 2025 Notes Offering Memorandum.

       

      

      “Separation Obligations” means indemnification obligations of the Company and/or its Restricted Subsidiaries in favor of Edgewell Personal Care Company, and/or its subsidiaries
        in connection with the Separation of the Company from Edgewell Personal Care Company, as described under “Certain Relationships and Related Party Transactions” in the 2025 Notes Offering Memorandum.

       

      

      “Short Derivative Instrument” means a Derivative Instrument (i) the value of which generally decreases, and/or the payment or delivery obligations under which generally increase,
        with positive changes to the Performance References and/or (ii) the value of which generally increases, and/or the payment or delivery obligations under which generally decrease, with negative changes to the Performance References.

       

      

      
        40

        
          

      

      “Significant Subsidiary” means any Subsidiary that would be a “Significant Subsidiary” of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC.

       

      

      “Spin-off Interim Ordinary Course Transactions” means any transaction entered into or consummated by the Company and/or its Restricted Subsidiaries, in the ordinary course and
        consistent with past practice, including any transaction with Edgewell Personal Care Company and its Subsidiaries, prior to the 2025 Notes Effective Date.

       

      

      “Spin-off Internal Reorganization” means the internal reorganization undergone on the terms described in “The Separation and Distribution––Internal Reorganization” in the 2025
        Notes Offering Memorandum.

       

      

      “Spin-off Transactions” means the Spin-off Internal Reorganization and the Separation, the issuance of the Company’s previously outstanding 5.500% Senior Notes due 2025 and
        incurrence of borrowings under the Company’s credit agreement as in effect on July 1, 2015.

       

      

      “Stated Maturity” means, with respect to any security, the date specified in the security as the fixed date on which the payment of principal of the security is due and payable,
        and shall not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof.

        

      

      “Subordinated Obligation” means any Debt of the Issuer or the Guarantors (whether outstanding on the Issue Date or thereafter Incurred) that is subordinate or junior in right of
        payment to the Notes pursuant to a written agreement to that effect.

       

      

      “Subsidiary” means, in respect of any Person, any corporation, company (including any limited liability company), association, partnership, joint venture or other business entity
        of which a majority of the total voting power of the Voting Stock is at the time owned or controlled, directly or indirectly, by:

       

      

      (a)          that Person,

       

      

      (b)          that Person and one or more Subsidiaries of that Person, or

       

      

      (c)          one or more Subsidiaries of that Person.

       

      

      “Subsidiary Guarantor” means each Guarantor (excluding the Company), unless and until such Guarantor is released from its Note Guaranty pursuant to this Indenture.

       

      

      
        41

        
          

      

      “Support Obligation” means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Debt or
        other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to
        purchase or pay (or advance or supply funds for the purchase or payment of) such Debt or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Debt or other
        obligation of the payment or performance of such Debt or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to
        enable the primary obligor to pay such Debt or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Debt or other obligation of the payment or performance thereof or to protect such
        obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Debt or other obligation of any other Person, whether or not such Debt or other obligation is assumed by such Person (or any
        right, contingent or otherwise, of any holder of such Debt to obtain any such Lien).  The amount of any Support Obligation shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion
        thereof, in respect of which such Support Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith.

       

      

      “Swap Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one
        or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these
        transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Company or
        any Subsidiary shall be a Swap Agreement.

       

      

      “Synthetic Lease” means, as to any Person, any lease (including leases that may be terminated by the lessee at any time) of any property (whether real, personal or mixed) (a)
        that is accounted for as an operating lease under GAAP and (b) in respect of which the lessee retains or obtains ownership of the property so leased for U.S. federal income tax purposes, other than any such lease under which such Person is the
        lessor.

       

      

      “Synthetic Lease Obligations” means, as to any Person, an amount equal to the sum, without duplication, of (a) the obligations of such person to pay rent or other amounts under
        any Synthetic Lease which are attributable to principal and (b) the amount of any purchase price payment under any Synthetic Lease assuming the lessee exercises the option to purchase the leased property at the end of the lease term.  For purposes
        of Section 4.06, a Synthetic Lease Obligation shall be deemed secured by a Lien on the Property being leased and such Property will be deemed to be owned by the lessee.

       

      

      “Temporary Cash Investments” means any of the following:

       

      

      (a)          securities issued or directly and fully guaranteed or insured by the United States or any agency or instrumentality thereof (provided that the full faith and
        credit of the United States is pledged in support thereof) having maturities of not more than twelve months from the date of acquisition,

       

      

      
        42

        
          

      

      (b)          U.S.-dollar denominated time deposits and certificates of deposit of an Approved Bank, in each case with maturities of not more than 364 days from the date of acquisition,

       

      

      (c)          commercial paper and variable or fixed rate notes issued by any Approved Bank (or by the parent company thereof) or any variable rate notes issued by, or guaranteed by, any domestic corporation rated A-1
        (or the equivalent thereof) or better by S&P or P-1 (or the equivalent thereof) or better by Moody’s and maturing within twelve months of the date of acquisition,

       

      

      (d)          repurchase agreements entered into by any Person with a bank or trust company or recognized securities dealer having capital and surplus in excess of $500.0 million for direct obligations issued by or
        fully guaranteed by the United States in which such Person shall have a perfected first priority security interest (subject to no other Liens) and having, on the date of purchase thereof, a Fair Market Value of at least one hundred percent (100%)
        of the amount of the repurchase obligations,

       

      

      (e)          Investments (classified in accordance with GAAP as current assets) in money market investment programs registered under the Investment Company Act of 1940 that are administered by reputable financial
        institutions having capital of at least $500.0 million and the portfolios of which are limited to Investments of the character described in the foregoing subclauses hereof, and

       

      

      (f)          other short-term investments utilized by Foreign Subsidiaries in accordance with normal investment practices for cash management in investments of a type analogous to the foregoing.

       

      

      “TIA” means the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of this Indenture; provided, however, that, in the event the TIA is amended after such date, “TIA” means, to the extent required by any such amendments, the Trust Indenture Act of 1939 as so amended.

       

      

      “Transactions” means (a) the issuance of the Original Notes and the application of the net proceeds thereof as described in the Offering Memorandum and (b) all other transactions
        related or incidental to, or in connection with, any of the foregoing (including, without limitation, the payment of fees and expenses in connection with each of the foregoing).

       

      

      “Trust Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee, including any vice president, senior associate,
        assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate
        trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture.

       

      

      “Trustee” means the party named as such in this Indenture until a successor replaces it and, thereafter, means the successor.

       

      

      
        43

        
          

      

      “Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from time to time.

       

      

      “United States” means the United States of America (including the states and the District of Columbia) and its territories, possessions and other areas subject to its
        jurisdiction.

       

      

      “Unrestricted Subsidiary” means:

       

      

      (a)          any Subsidiary of the Company (other than the Issuer) that is designated as an Unrestricted Subsidiary as permitted or required pursuant to Section 4.10 and is not thereafter redesignated as a Restricted
        Subsidiary as permitted pursuant thereto; and

       

      

      (b)          any Subsidiary of an Unrestricted Subsidiary.

       

      

      “U.S. Dollar” or “$” means the lawful currency of the United States.

       

      

      “U.S. Dollar Equivalent” means, with respect to any monetary amount in a currency other than U.S. Dollars, at any time for the determination thereof, the amount of U.S. Dollars
        obtained by converting such foreign currency involved in such computation into U.S. Dollars at the spot rate for the purchase of U.S. Dollars with the applicable foreign currency as published or as quoted by Reuters at approximately 10:00 A.M. (New
        York time) on the date not more than two Business Days prior to such determination.

       

      

      “Voting Stock” of any Person means all classes of Capital Stock or other interests (including partnership interests) of that Person then outstanding and normally entitled
        (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof.

       

      

      “Wholly Owned” means, with respect to any Person, a Subsidiary all the Voting Stock of which (except directors’ qualifying shares) is at that time owned, directly or indirectly,
        by such Person and its other Wholly Owned Restricted Subsidiaries.

       

      

      Section 1.02.        Other Definitions.

       

      

      	
              
                Term

              

            	 	
              
                
                  Defined in Section

                

              

            
	
              “Additional Amounts”

            	 	
              4.14(b)

            
	
              “Affiliate Transaction”

            	 	
              4.09

            
	
              “Agent Members”

            	 	
              Appendix A

            
	
              “Allocable Excess Proceeds”

            	 	
              4.07(c)

            
	
              “Applicable Law”

            	 	
              11.18

            
	
              “Authorized Agent”

            	 	
              11.10(a)

            
	
              “Authorized Officers”

            	 	
              11.02

            
	
              “Change of Control Offer”

            	 	
              4.12(a)

            
	
              “Change of Control Payment Date”

            	 	
              4.12(b)

            
	
              “Change of Control Purchase Price”

            	 	
              4.12(a)

            
	
              “Common Depositary”

            	 	
              Appendix A

            
	
              “covenant defeasance option”

            	 	
              8.02(a)

            

      

      

      
        44

        
          

      

      	
              
                Term

              

            	 	
              
                Defined in Section

              

            
	
              “Discharge”

            	 	
              8.01(a)

            
	
              “Deemed Date”

            	 	
              4.04(b)

            
	
              “Definitive Note”

            	 	
              Appendix A

            
	
              “Directing Holder”

            	 	
              6.02

            
	
              “Discharge”

            	 	
              8.01(a)

            
	
              “Distribution Compliance Period”

            	 	
              Appendix A

            
	
              “Events of Default”

            	 	
              6.01

            
	
              “Excess Proceeds”

            	 	
              4.07(c)

            
	
              “Increased Amount”

            	 	
              4.06

            
	
              “fixed baskets”

            	 	
              1.06(a)

            
	
              “Initial Default”

            	 	
              6.04

            
	
              “Instructions”

            	 	
              11.02

            
	
              “Judgment Currency”

            	 	
              11.11(c)

            
	
              “LCT Election”

            	 	
              1.05(a)

            
	
              “LCT Test Date”

            	 	
              1.05(a)

            
	
              “legal defeasance option”

            	 	
              8.02(a)

            
	
              “Noteholder Direction”

            	 	
              6.02

            
	
              “Notes”

            	 	
              Recitals hereto

            
	
              “Notes Custodian”

            	 	
              Appendix A

            
	
              “Notice of Default”

            	 	
              6.01(i)

            
	
              “Original Notes”

            	 	
              Recitals hereto

            
	
              “Paying Agent”

            	 	
              2.04

            
	
              “Permitted Debt”

            	 	
              4.04(b)

            
	
              “Position Representation”

            	 	
              6.02

            
	
              “Prepayment Offer”

            	 	
              4.07(c)

            
	
              “protected purchaser”

            	 	
              2.07

            
	
              “QIB”

            	 	
              Appendix A

            
	
              “ratio-based basket”

            	 	
              1.06(a)

            
	
              “Redemption Date”

            	 	
              3.03

            
	
              “Registrar”

            	 	
              2.04

            
	
              “Regulation S”

            	 	
              Appendix A

            
	
              “Regulation S Global Note”

            	 	
              Appendix A

            
	
              “Relevant Clearing System”

            	 	
              6.02

            
	
              “Relevant Tax Jurisdiction”

            	 	
              4.14(a)

            
	
              “Required Currency”

            	 	
              11.11(b)

            
	
              “Relevant Transaction”

            	 	
              1.06(a)

            
	
              “Reversion Date”

            	 	
              4.01(b)

            
	
              “Rule 144A”

            	 	
              Appendix A

            
	
              “Rule 144A Global Note”

            	 	
              Appendix A

            
	
              “Successor Company”

            	 	
              5.02(a)

            
	
              “Surviving Person”

            	 	
              5.01(a)

            
	
              “Suspended Covenants”

            	 	
              4.01(b)

            
	
              “Suspension Period”

            	 	
              4.01(b)

            
	
              “Taxes”

            	 	
              4.14(a)

            
	
              “Transfer Restricted Notes”

            	 	
              Appendix A

            

      

      

      
        45

        
          

      

      	Term

            	 	
              
                Defined in Section

              

            
	
              “Verification Covenant”

            	 	
              6.02

            

      

      

      Section 1.03.        Trust Indenture Act.  This Indenture is not qualified under the TIA, and the
          provisions of the TIA (including “mandatory” provisions thereof) shall not apply to or in any way govern the terms of this Indenture or the Notes or any Note Guarantee, except where specifically made applicable in this Indenture.  As a
        result, no provisions of the TIA (including “mandatory” provisions thereof) are incorporated into this Indenture unless expressly incorporated pursuant to this Indenture.  Unless specifically provided in this Indenture, no terms that are defined under the TIA have such meanings for purposes of this Indenture.

       

        

      Section 1.04.        Rules of Construction.  Unless the context otherwise requires:

        

      

      (a)          a term has the meaning assigned to it;

       

      

      (b)          an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

       

      

      (c)          “or” is not exclusive;

        

      

      (d)          “including” means including without limitation;

       

      

      (e)          words in the singular include the plural and words in the plural include the singular;

       

      

      (f)          unsecured Debt shall not be deemed to be subordinate or junior to secured Debt merely by virtue of its nature as unsecured Debt;

       

      

      (g)          the principal amount of any non-interest bearing or other discount security at any date shall be the principal amount thereof that would be shown on a balance
        sheet of the Company dated such date prepared in accordance with GAAP; and

       

      

      (h)          the principal amount of any Preferred Stock shall be the greater of (i) the maximum liquidation value of such Preferred Stock or (ii) the maximum mandatory
        redemption or mandatory repurchase price with respect to such Preferred Stock.

       

      

      
        46

        
          

      

      
        Section 1.05.        Financial Calculations for Limited Condition Transactions.

        

        

      (a)          When calculating the availability under any basket or ratio under this Indenture or compliance with any provision of this Indenture in connection with any Limited
        Condition Transaction and any actions or transactions related thereto (including acquisitions, Investments and the incurrence or issuance of Debt, Liens, Disqualified Stock or Preferred Stock and the use of proceeds thereof, repayments and
        Restricted Payments), in each case, at the option of the Company (the Company’s election to exercise such option, an “LCT Election”), the date of determination for availability under any such basket or ratio
        and whether any such action or transaction is permitted (or any requirement or condition therefor is complied with or satisfied (including as to the absence of any continuing Default or Event of Default)) under this Indenture shall be deemed to be
        the date (the “LCT Test Date”) the definitive agreements for such Limited Condition Transaction are entered into (or, if applicable, the date of delivery of an irrevocable notice or similar event), and if,
        after giving pro forma effect to the Limited Condition Transaction and any actions or transactions related thereto including acquisitions, Investments and the incurrence or issuance of Debt, Liens, Disqualified Stock or Preferred Stock and the use
        of proceeds thereof, repayments and Restricted Payments) and any related pro forma adjustments, the Company or any of its Restricted Subsidiaries would have been permitted to take such actions or consummate such transactions on the relevant LCT
        Test Date in compliance with such ratio, test or basket (and any related requirements and conditions), such ratio, test or basket (and any related requirements and conditions) shall be deemed to have been complied with (or satisfied) for all
        purposes (in the case of Debt, for example, whether such Debt is committed, issued or incurred at the LCT Test Date or at any time thereafter); provided that (i) if financial statements for one or more
        subsequent fiscal quarters shall have become available, the Company may elect, in its sole discretion, to re-determine all such ratios, tests or baskets on the basis of such financial statements, in which case, such date of redetermination shall
        thereafter be deemed to be the applicable LCT Test Date for purposes of such ratios, tests or baskets, and (ii) except as contemplated in the foregoing clause (i), compliance with such ratios, tests or baskets (and any related requirements and
        conditions) shall not be determined or tested at any time after the applicable LCT Test Date for such Limited Condition Transaction and any actions or transactions related thereto (including acquisitions, Investments and the incurrence or issuance
        of Debt, Liens, Disqualified Stock or Preferred Stock and the use of proceeds thereof, repayments and Restricted Payments).

       

      

      (b)          For the avoidance of doubt, if the Company has made an LCT Election, (i) if any of the ratios, tests or baskets for which compliance was determined or tested as of
        the LCT Test Date would at any time after the LCT Test Date have been exceeded or otherwise failed to have been complied with as a result of fluctuations in any such ratio, test or basket, including due to fluctuations in Consolidated EBITDA or
        total assets of the Company or the Person subject to such Limited Condition Transaction, such baskets, tests or ratios will not be deemed to have been exceeded or failed to have been complied with as a result of such fluctuations; (ii) if any
        related requirements and conditions (including as to the absence of any continuing Default or Event of Default) for which compliance or satisfaction was determined or tested as of the LCT Test Date would at any time after the LCT Test Date not have
        been complied with or satisfied (including due to the occurrence or continuation of an Default or Event of Default), such requirements and conditions will not be deemed to have been failed to be complied with or satisfied (and such Default or Event
        of Default shall be deemed not to have occurred or be continuing) and (iii) in calculating the availability under any ratio, test or basket in connection with any action or transaction unrelated to such Limited Condition Transaction following the
        relevant LCT Test Date and prior to the earlier of the date on which such Limited Condition Transaction is consummated or the date that the definitive agreement or date for redemption, purchase or repayment specified in an irrevocable notice for
        such Limited Condition Transaction is terminated, expires or passes, as applicable, without consummation of such Limited Condition Transaction, any such ratio, test or basket shall be determined or tested giving pro forma effect to such Limited
        Condition Transaction.

       

      

      
        47

        
          

      

      Section 1.06.        Certain Compliance Calculations

       

        

      (a)          If any baskets, thresholds or exceptions determined by reference to a fixed currency amount or a percentage of Consolidated EBITDA (“fixed baskets”) are intended to be utilized together with any baskets, thresholds or exceptions determined by reference to the Consolidated Secured Leverage Ratio, the Consolidated Leverage Ratio, the Consolidated Fixed Charges
        Coverage Ratio or any other financial ratio or metric (a “ratio-based basket”) in a single transaction or action or series of related transactions or actions (for the purposes of this paragraph, a “Relevant Transaction”): (x) amounts available to be incurred under the applicable ratio-based baskets shall be calculated without giving effect to amounts to be incurred under the applicable fixed baskets in
        connection with such Relevant Transaction and (y) full pro forma effect shall be given to all increases to Consolidated EBITDA and repayments or discharges of Debt in connection with such Relevant Transaction in accordance with this Indenture.

        

      

      (b)          If Debt originally incurred in reliance upon a percentage of Consolidated EBITDA is being Refinanced and such Refinancing would cause the maximum amount of Debt
        thereunder to be exceeded at such time, then such Refinancing will nevertheless be permitted thereunder and such additional Debt will be deemed to have been incurred under the applicable clause so long as the principal amount of such additional
        Debt does not exceed the principal amount of Debt being Refinanced plus the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, premiums and other costs and expenses incurred in connection with such Refinancing.

       

      

      (c)          If (x) a proposed action, matter, transaction or amount (or a portion thereof) is incurred or entered into pursuant to a fixed basket or the grower component of
        any other basket and (y) at a later time would subsequently be permitted under a ratio-based basket, unless otherwise elected by the Company, such action, matter, transaction or amount (or a portion thereof) shall automatically be reclassified to
        such ratio-based basket.

       

      

      (d)          If (x) any transaction is entered into between (A) the Company or any Restricted Subsidiary and (B) any other Person which is not a Restricted Subsidiary on the
        date of such transaction; (y) such transaction is permitted pursuant to a fixed basket or an incurrence-based basket; and (z) following such transaction, such other Person becomes a Restricted Subsidiary, such transaction shall be deemed to be
        reallocated to any applicable basket allowing transactions of such type to be entered into on an unlimited basis between the Company and a Restricted Subsidiary or between Restricted Subsidiaries.

       

      

      (e)          If a proposed action, matter, transaction or amount (or a portion thereof) meets the criteria of more than one applicable basket, permission or threshold under
        this Indenture, the Company shall be entitled to divide or classify or later divide or reclassify (based on circumstances existing on the date of such reclassification) such action, matter or amount (or a portion thereof) between such baskets,
        permissions or thresholds as it shall elect from time to time, provided that Debt under the Credit Agreement outstanding on the Issue Date shall at all times be classified as incurred under clause (ii) of the definition of “Permitted Debt.”

        

      

      
        48

        
          

      

      ARTICLE 2

      THE NOTES

      

       

      

      Section 2.01.        Amount of Notes.  The aggregate principal amount of Notes which may be authenticated and delivered under this
        Indenture is unlimited, subject to compliance with Sections 2.03 and 4.04. All Notes shall be identical in all respects other than issue prices, issuance dates and with respect to interest payable on the first interest payment date after issuance.

       

      

      Subject to Section 2.03, the Trustee shall authenticate the Original Notes for original issue on the Issue Date. With respect to any Notes issued after the Issue Date (except for Notes authenticated and delivered upon
        registration of transfer of, or in exchange for, or in lieu of, Original Notes pursuant to Section 2.07, 2.08, 2.09 or 3.06 or Appendix A), the Issuer may issue such Notes but only in compliance with Section 2.03.

       

      

      Section 2.02.        Form and Dating.  Provisions relating to the Notes are set forth in Appendix A, which is hereby incorporated in
        and expressly made part of this Indenture. The Notes and the certificate of authentication included therein shall be substantially in the form of Exhibit A which is hereby incorporated in and expressly made a part of this Indenture. The Notes may
        have notations, legends or endorsements required by law, stock exchange rule, agreements to which the Issuer or any Guarantor is subject, if any, or usage, provided that any such notation, legend or
        endorsement is in a form reasonably acceptable to the Issuer. Each Note shall be dated the date of its authentication. The terms of the Notes set forth in Exhibit A are part of the terms of this Indenture. The Notes shall be issuable in
        denominations of €100,000 and integral multiples of €1,000 in excess thereof.

       

      

      Section 2.03.        Execution and Authentication.  Two Officers shall sign the Notes for the Issuer by manual or facsimile signature.

       

      

      If an Officer whose signature is on a Note no longer holds that office at the time the Trustee authenticates the Note, the Note shall be valid nevertheless.

       

      

      At any time and from time to time after the execution and delivery of this Indenture, the Issuer may deliver Notes executed by the Issuer to the Trustee for authentication. The Trustee will authenticate and deliver:

        

      

      (a)          (i) Original Notes for original issue in the aggregate principal amount not to exceed €650.0 million, and (ii) Additional Notes from time to time for original
        issue in aggregate principal amounts specified by the Issuer, after the following conditions have been met:

       

      

      
        49

        
          

      

      (A)         Receipt by the Trustee of an Officer’s Certificate (which shall include the statement specified in Section 11.04) specifying

       

      

      (1)          the amount of Notes to be authenticated and the date on which the Notes are to be authenticated,

       

      

      (2)          in the case of Additional Notes, that the issuance of such Notes does not contravene Section 4.04,

       

      

      (3)          whether the Notes are to be issued as one or more Global Notes or Definitive Notes, and

      

       

        

      (4)          other information the Issuer may determine to include.

       

      

      (B)         In the case of Additional Notes that are not fungible with the Original Notes for U.S. federal income tax purposes, such Additional Notes shall
        bear a different ISIN number, and the Trustee shall receive an Opinion of Counsel that conforms with the requirements of Section 11.05 hereof and as to the due authorization and execution of such Additional Notes and the enforceability thereof.

       

      

      A Note shall not be valid until an authorized signatory of the Trustee (or an Authentication Agent as described below) manually or electronically signs the certificate of authentication on the Note. The signature shall
        be conclusive evidence that the Note has been authenticated under this Indenture.

       

      

      The Trustee may appoint an Authentication Agent reasonably acceptable to the Issuer to authenticate any Notes. Any such appointment shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall
        be furnished to the Issuer. Unless limited by the terms of such appointment, an Authentication Agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by
        such agent. An Authentication Agent has the same rights as any Registrar, Paying Agent or agent for service of notices and demands.

       

      

      Section 2.04.        Registrar and Paying Agent.  The Issuer shall maintain an office or agency where Notes may be presented for
        registration of transfer or for exchange (the “Registrar”) and an office or agency where Notes may be presented for payment (the “Paying Agent”).  The Registrar shall
        keep a register of the Notes and of their transfer and exchange. The Issuer may have one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrars. The term “Paying Agent” includes any
        additional paying agents.

       

      

      The Issuer initially appoints The Bank of New York Mellon, London Branch, to act as common depositary for Euroclear and Clearstream with respect to the Global Notes. Neither the Trustee nor any Agent shall have
        responsibility for any actions taken or not taken by Euroclear and Clearstream.

       

      

      
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      The Issuer may enter into an appropriate agency agreement with any Registrar, Paying Agent or co-registrar not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to
        such agent. The Issuer shall notify the Trustee of the name and address of any such agent. If the Issuer fails to maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor
        pursuant to Section 7.07. The Issuer or any of its Subsidiaries may act as Paying Agent, Registrar, co-registrar.

       

      

      Initially, the Trustee will act as Registrar and The Bank of New York Mellon, London Branch, will act as Paying Agent with regard to the Notes.

       

      

      The Issuer may remove any Registrar or Paying Agent upon written notice to such Registrar or Paying Agent and to the Trustee; provided, however,
        that no such removal shall become effective until (i) if applicable, acceptance of an appointment by a successor Registrar or Paying Agent, as the case may be, as evidenced by an appropriate agreement entered into by the Issuer and such successor
        Registrar or Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the appointment of a successor in accordance with clause (i) above. The
        Registrar or Paying Agent may resign at any time upon written notice to the Issuer and the Trustee; provided, however, that the Trustee may resign as Paying Agent
        or Registrar only if the Trustee also resigns as Trustee in accordance with Section 7.08.

       

      

      Section 2.05.        Paying Agent to Hold Money in Trust.  Prior to 10:00 a.m., London time, on any due date of the principal and
        interest on any Note, the Issuer shall deposit with the Paying Agent a sum sufficient to pay such principal and interest when so becoming due. The Paying Agent shall hold in trust for the benefit of Noteholders or the Trustee all money held by the
        Paying Agent for the payment of principal of or interest on the Notes and shall notify the Trustee in writing of any default by the Issuer in making any such payment. If the Issuer or a Subsidiary thereof acts as Paying Agent, it shall segregate
        the money held by it as Paying Agent and hold it in trust for the benefit of Persons entitled thereto. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed by the Paying
        Agent. Upon complying with this Section, the Paying Agent shall have no further liability for the money delivered to the Trustee.

       

      

      Section 2.06.        Noteholder Lists.  The Registrar shall preserve in as current a form as is reasonably practicable the most recent
        list available to it of the names and addresses of Noteholders. If the Trustee is not the Registrar, the Issuer shall furnish, or cause the Registrar to furnish, to the Trustee, in writing at least three Business Days before each interest payment
        date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Noteholders.

       

      

      
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      Section 2.07.        Replacement Notes.  If a mutilated Note is surrendered to the Registrar or if the Holder of a Note claims that
        such Note has been lost, destroyed or wrongfully taken, the Issuer shall issue and the Trustee shall authenticate a replacement Note, if the requirements of Section 8-405 of the Uniform Commercial Code are met, such that the Holder (a) satisfies
        the Issuer and the Trustee within a reasonable time after such Holder has notice of such loss, destruction or wrongful taking and the Registrar does not register a transfer prior to receiving such notification, (b) makes such request to the Issuer
        and the Trustee prior to the Note being acquired by a protected purchaser as defined in Section 8-303 of the Uniform Commercial Code (a “protected purchaser”) and (c) satisfies any other reasonable
        requirements of the Issuer, Trustee and/or the Authentication Agent, as applicable. If required by the Trustee or the Issuer, such Holder shall furnish an indemnity bond sufficient in the judgment of the Issuer and the Trustee (and the Paying
        Agent, Registrar and Authentication Agent, if not the Trustee) to protect the Issuer, the Trustee, the Paying Agent, the Registrar, any co-registrar and the Authentication Agent, as applicable, from any loss or liability which any of them may
        suffer if a Note is replaced. The Issuer and the Trustee may charge the Holder for their expenses in replacing a Note (including without limitation, attorneys’ fees and disbursements in replacing such Note). In the event any such mutilated, lost,
        destroyed or wrongfully taken Note has become or is about to become due and payable, the Issuer in its discretion may pay such Note instead of issuing a new Note in replacement thereof.

       

      

      Every replacement Note is an additional obligation of the Issuer.

       

      

      The provisions of this Section 2.07 are exclusive and shall preclude (to the extent lawful) all other rights and remedies of the Holders with respect to the replacement or payment of mutilated, lost, destroyed or
        wrongfully taken Notes.

       

      

      Section 2.08.        Outstanding Notes.  Notes outstanding at any time are all Notes authenticated by the Trustee, except for those
        canceled by it, those delivered to it for cancellation and those described in this Section as not outstanding. Subject to Section 11.06, a Note does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Note.

       

      

      If a Note is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee and the Issuer receive proof satisfactory to them that the replaced Note is held by a protected purchaser.

       

      

      If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a Redemption Date or maturity date money sufficient to pay all principal, interest and any Additional Amounts, if any, payable on
        that date with respect to the Notes (or portions thereof) to be redeemed or maturing, as the case may be, then on and after that date, such Notes (or portions thereof) cease to be outstanding and interest on them ceases to accrue.

       

      

      Section 2.09.        Temporary Notes.  Until definitive Notes are ready for delivery, the Issuer may prepare and the Trustee shall
        authenticate temporary Notes. Temporary Notes shall be substantially in the form of Definitive Notes but may have variations that the Issuer considers appropriate for temporary Notes. Without unreasonable delay, the Issuer shall prepare and the
        Trustee shall authenticate Definitive Notes and deliver them in exchange for temporary Notes.

       

      

      
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      Section 2.10.        Cancellation.  The Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and the
        Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange, redemption or payment and such Notes shall promptly be cancelled by the Trustee. The Trustee and no one else shall cancel and dispose of
        all Notes surrendered for registration of transfer, exchange, payment or cancellation in its customary manner. The Trustee, upon request of the Issuer, shall deliver a certificate of cancellation to the Issuer.  The Issuer may not issue new Notes
        to replace Notes it has redeemed, paid or delivered to the Trustee for cancellation, except pursuant to the terms of this Indenture.

       

      

      Section 2.11.        Defaulted Interest.  If the Issuer defaults in a payment of interest on the Notes, the Issuer shall pay the
        defaulted interest (plus interest on such defaulted interest to the extent lawful) in any lawful manner. The Issuer may pay the defaulted interest to the Persons who are Noteholders on a subsequent special record date. The Issuer shall fix or cause
        to be fixed any such special record date and payment date to the reasonable satisfaction of the Trustee and shall promptly deliver to each affected Noteholder a notice that states the special record date, the payment date and the amount of
        defaulted interest to be paid.

       

      

      Section 2.12.        ISIN or Common Code Numbers.  The Issuer in issuing the Notes may use “ISIN” or “Common Code” numbers (if then
        generally in use) and, if so, the Trustee shall use “ISIN” or “Common Code” numbers in notices of redemption as a convenience to Holders; provided, however, that
        neither the Issuer nor the Trustee shall have any responsibility for any defect in the “ISIN” or “Common Code” number that appears on any Note, check, advice of payment or redemption notice, and any such notice may state that no representation is
        made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption shall not
        be affected by any defect in or omission of such numbers. The Issuer shall promptly notify the Trustee in writing of any change in such numbers.

       

      

      ARTICLE 3

      
        REDEMPTION

      

       

      

      Section 3.01.        Notices to Trustee.  If the Issuer elects to redeem Notes pursuant to paragraph 5 or 7 of the Notes, it shall
        notify the Trustee in writing of the Redemption Date, the principal amount of Notes to be redeemed and that such redemption is being made pursuant to paragraph 5 or 7 of the Notes.

       

      

      The Issuer shall give each notice to the Trustee provided for in this Section at least 10 days before the Redemption Date unless the Trustee consents to a shorter period.

       

      

      
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      Section 3.02.        Selection of Notes to be Redeemed.  If fewer than all of the Notes are to be redeemed, the Trustee shall select
        the Notes to be redeemed by lot; provided that if the Notes are in global form, interests in such Global Notes will be selected for redemption by the applicable Common Depositary in accordance with
        Euroclear and Clearstream’s standard procedures therefor. The Trustee shall make the selection from outstanding Notes not previously called for redemption. The Trustee may select for redemption portions of the principal of Notes that have
        denominations larger than €100,000. Notes and portions of them the Trustee selects shall be in amounts of €100,000 or a whole multiple of €1,000 in excess thereof. Provisions of this Indenture that apply to Notes called for redemption also apply to
        portions of Notes called for redemption. The Trustee shall notify the Issuer in writing promptly of the Notes or portions of Notes to be redeemed.

       

      

      Section 3.03.        Notice of Redemption.  At least 10 days but not more than 60 days before a date for redemption of Notes pursuant
        to paragraph 5 or 7 of the Notes (such date, a “Redemption Date”), the Issuer shall mail, or cause to be mailed, a notice of redemption by first-class mail, and in the case of Notes held in book-entry form,
        by electronic transmission, to each Holder of Notes to be redeemed.

        

      

      The notice shall identify the Notes to be redeemed (including any ISIN number or Common Code) and shall state:

        

      

      (a)          the Redemption Date;

       

      

      (b)          the redemption price or the information specified in clause (c) of paragraph 5 of the Notes and Additional Amounts, if any;

       

      

      (c)          the name and address of the applicable Paying Agent;

       

      

      (d)          that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price and Additional Amounts, if any;

       

      

      (e)          if fewer than all the outstanding Notes are to be redeemed, the identification and principal amounts of the particular Notes to be redeemed;

       

      

      (f)          that, unless the Issuer defaults in making such redemption payment, interest on Notes (or portion thereof) called for redemption ceases to accrue on and after the
        Redemption Date;

       

      

      (g)          if the notice is conditioned upon one or more conditions precedent, a description of such conditions, and a statement that, in the Issuer’s discretion, the
        Redemption Date may be delayed until such time as any or all such conditions shall be satisfied (or waived by the Issuer in its sole discretion), or such redemption may not occur and such notice may be rescinded in the event that any or all such
        conditions shall not have been satisfied (or waived) by the Redemption Date, or by the Redemption Date so delayed; and

       

      

      (h)          that no representation is made as to the correctness or accuracy of the ISIN or Common Code number, if any, listed in such notice or printed on the Notes.

       

      

      In addition, the Issuer may provide in such notice that payment of the redemption price and performance of the Issuer’s obligations with respect to such redemption may be performed by another Person.

       

      

      
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      At the Issuer’s written request, the Trustee shall give the notice of redemption in the Issuer’s name and at the Issuer’s expense.  Such request shall be accompanied by an Officer’s Certificate from the Issuer to the
        effect that the conditions precedent to the delivery of such notice have been satisfied.  In such event, any such request shall be received in writing by the Trustee at least three Business Days prior to the date on which such notice is to be given
        unless the Trustee consents to a shorter period. Any such notice may be canceled if written notice from the Issuer of such cancellation is actually received by the Trustee on the Business Day immediately prior to notice of such redemption being
        mailed to any Noteholder or otherwise delivered in accordance with the applicable procedures of Euroclear and Clearstream and shall thereby be void and of no effect.

       

      

      Section 3.04.        Effect of Notice of Redemption.  Subject to satisfaction of any conditions precedent specified in such notice,
        once notice of redemption is mailed or otherwise delivered, Notes called for redemption become due and payable on the Redemption Date and at the redemption price stated in the notice. Upon surrender to the applicable Paying Agent, such Notes shall
        be paid at the redemption price stated in the notice, plus accrued and unpaid interest and any Additional Amounts, if any, to, but excluding, the Redemption Date (subject to the right of Holders of record on the relevant record date to receive
        interest due on the related interest payment date). Failure to give notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder.

       

      

      Section 3.05.        Deposit of Redemption Price.  On or prior to 10:00 a.m. London time on the Redemption Date, the Issuer shall
        deposit with the applicable Paying Agent (or, if the Issuer or a Subsidiary thereof is the Paying Agent, shall segregate and hold in trust) money in euros sufficient to pay the redemption price of and accrued and unpaid interest and any Additional
        Amounts, if any (subject to the right of Holders of record on the relevant record date to receive interest due on the related interest payment date) on all Notes to be redeemed on that date other than Notes or portions of Notes called for
        redemption that have been delivered by the Issuer to the Trustee for cancellation. On and after the Redemption Date, interest shall cease to accrue on Notes or portions thereof called for redemption so long as the Issuer has deposited with the
        Paying Agent funds sufficient to pay the principal of, plus accrued and unpaid interest and Additional Amounts, if any, on, the Notes or portions thereof to be redeemed.

       

      

      Section 3.06.        Notes Redeemed in Part.  Upon surrender of a Note that is redeemed in part, the Issuer shall execute and the
        Trustee shall authenticate for the Holder (at the Issuer’s expense) a new Note equal in principal amount to the unredeemed portion of the Note surrendered.

       

      

      Section 3.07.        Optional Redemption.

        

      

      (a)          The Notes shall be optionally redeemable as set forth in paragraph 5 or 7 of the Notes. Any such redemption shall be made in accordance with the provisions of this
        Article 3.

       

      

      
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      (b)          Any redemption or notice of redemption issued pursuant to paragraph 5 of the Notes may, in the Issuer’s discretion, be subject to one or more conditions precedent.

       

      

      ARTICLE 4

      COVENANTS

       

      

      Section 4.01.        Covenant Suspension.  During any period of time that:

       

      

      (a)          the Notes have Investment Grade Ratings from both Rating Agencies, and

       

      

      (b)          no Default or Event of Default has occurred and is continuing under this Indenture,

       

      

      the Company and the Restricted Subsidiaries will not be subject to the following Sections of this Indenture: Section 4.04, Section 4.05, Section 4.07, Section 4.08, Section 4.09, and clause (d) of Section 5.02 (collectively, the “Suspended Covenants”).  In the event that the Company and the Restricted Subsidiaries are not subject to the Suspended Covenants for any period of time as a result of the preceding sentence and, subsequently, one
        or both of the Rating Agencies withdraws its ratings or downgrades the ratings assigned to the Notes below the required Investment Grade Ratings (the date of such ratings withdrawal or downgrade, the “Reversion Date”),

        then the Company and the Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants for all periods after that withdrawal or downgrade.  Notwithstanding that the Suspended Covenants may be reinstated, no Default, Event of
        Default or breach of any kind shall be deemed to exist under this Indenture or the Notes with respect to the Suspended Covenants based on, and none of the Company or any of its Subsidiaries (including the Issuer) shall bear any liability for, any
        actions taken or events occurring during the Suspension Period (as defined below), or any actions taken at any time pursuant to any contractual obligation arising during any Suspension Period, regardless of whether such actions or events would have
        been permitted if the applicable Suspended Covenants remained in effect during such period (or after the Suspension Period for actions taken to honor, comply with or otherwise perform any contractual obligations or other obligations arising prior
        to the Reversion Date and to consummate the transactions contemplated thereby). The period of time between the occurrence of the suspension of covenants and the Reversion Date is referred to as the “Suspension
          Period.”  The Company will promptly give the Trustee written notice of any such suspension of covenants and in any event not later than five Business Days after becoming aware thereof. In the absence of such notice, the Trustee shall
        assume that the Suspended Covenants are in full force and effect.

       

      

      
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      Solely for the purpose of determining the amount of Permitted Liens under Section 4.06 during any Suspension Period and without limiting the Company’s or any Restricted Subsidiary’s ability to Incur Debt during any
        Suspension Period, to the extent that calculations in Section 4.06 refer to Section 4.04, such calculations shall be made as though Section 4.04 remains in effect during the Suspension Period. On the Reversion Date, (i) all Debt Incurred during the
        Suspension Period will be deemed to have been outstanding on the Issue Date, so that it is classified as permitted under clause (j) of the definition of “Permitted Debt” in Section 4.04, (ii) any Affiliate Transaction entered into on or after the
        Reversion Date pursuant to an agreement entered into during any Suspension Period shall be deemed to be permitted pursuant to clause (f) of the second paragraph of Section 4.09 and (iii) any encumbrance or restriction on the ability of any
        Restricted Subsidiary to take any action described in clauses (a) through (c) of the first paragraph of Section 4.08 that becomes effective during any Suspension Period shall be deemed to be permitted pursuant to clause (i) of the second paragraph
        of Section 4.08. Calculations made after the Reversion Date of the amount available to be made as Restricted Payments under Section 4.05 will be made as though the covenants described under Section 4.05 had been in effect since the Issue Date and
        prior to, but not during, the Suspension Period. Accordingly, Restricted Payments made during the Suspension Period will not reduce the amount available to be made as Restricted Payments under the first paragraph of Section 4.05.  For purposes of
        determining compliance with Section 4.07 on the Reversion Date, the Net Available Cash from all Asset Sales not applied in accordance with the covenant will be deemed to be reset to zero.  No Subsidiaries may be designated as Unrestricted
        Subsidiaries during any Suspension Period. The Company will give the Trustee written notice of any occurrence of a Reversion Date not later than five Business Days after becoming aware thereof.  After any such notice of the occurrence of a
        Reversion Date, the Trustee shall assume that the Suspended Covenants apply and are in full force and effect.

      

       

        

      Section 4.02.        Payment of Notes.  The Issuer shall promptly pay the principal of and interest on the Notes and Additional
        Amounts, if any, on the dates and in the manner provided in the Notes and in this Indenture. Principal, interest and Additional Amounts, if any, shall be considered paid on the date due if on such date the Trustee or the applicable Paying Agent
        holds in accordance with this Indenture money sufficient to pay all principal, interest and Additional Amounts, if any, then due.

       

      

      The Issuer shall pay interest on overdue principal at the rate specified therefor in the Notes, and it shall pay interest on overdue installments of interest and overdue Additional Amounts, if any, at the rate borne by
        the Notes to the extent lawful.

       

      

      Section 4.03.        Reports.  Whether or not required by the rules and regulations of the SEC, so long as any Notes are outstanding,
        the Company will furnish to the Holders of Notes or cause the Trustee to furnish to the Holders of Notes, within the time periods specified in the SEC’s rules and regulations for non-accelerated filers (including any applicable extensions thereto):

       

      

      (a)          all quarterly and annual reports that would be required to be filed with the SEC on Forms 10-Q and 10-K if the Company were required to file such reports; and

       

      

      (b)          all current reports that would be required to be filed with the SEC on Form 8-K if the Company were required to file such reports;

       

      

      provided that the electronic filing of the foregoing reports by the Company on the SEC’s EDGAR system (or any successor system) or
          the public posting of the foregoing reports on the Company’s website shall be deemed to satisfy the Company’s delivery obligations to the Trustee and any Holder of Notes.

       

        

      
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      All such reports will be prepared in all material respects in accordance with all of the rules and regulations of the SEC applicable to such reports.

       

      

      If, at any time, the Company does not have a class of equity listed on a national securities exchange, the Company will schedule a conference call to be held reasonably promptly, but not more than ten Business Days
        following the release of each report containing the financial information referred to in clause (a) above to discuss the information contained in such report.  The Company will take reasonable steps to notify Holders of Notes about such call and
        provide them and prospective investors in the Notes with instructions to obtain access to such conference call concurrently with and in the same manner as each delivery of financial statements pursuant to clause (a) above.

       

      

      In addition, the Company agrees that, if at any time it is not required to file with the SEC the reports required by the preceding paragraphs, it will furnish to the Holders of Notes and to securities analysts and
        prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act for so long as the Notes are subject to resale restrictions under Rule 144 under the Securities Act.

       

      

      Notwithstanding the foregoing, the financial statements, information and other documents required to be provided as described above, may be those of (i) the Company or (ii) any Parent Entity that becomes a guarantor of
        the notes rather than those of the Company; provided, in the case of (ii), to the extent that the financial statements of the Parent Entity would differ materially from those of the Company, such financial
        statements shall be accompanied by consolidated information that explains in reasonable detail the difference between the information relating to the Parent Entity, on the one hand, and the information relating to the Company and its Restricted
        Subsidiaries on a standalone basis, on the other hand.

       

      

      To the extent any information is not provided within the time periods specified in this Section 4.03 and such information is subsequently provided, the Company will be deemed to have satisfied its obligations with
        respect thereto at such time and any Default with respect thereto shall be deemed to have been cured.

       

      

      Section 4.04.        Limitation on Debt.  The Company shall not, and shall not permit any Restricted Subsidiary to, Incur, directly or
        indirectly, any Debt unless, after giving effect to the application of the proceeds thereof, either:

       

      

      (a)          the Debt is Debt of the Company or a Restricted Subsidiary and after giving effect to the Incurrence of the Debt and the application of the proceeds thereof on a
        pro forma basis, the Consolidated Fixed Charges Coverage Ratio would be at least 2.00 to 1.00; provided that the aggregate principal amount of Debt permitted to be Incurred pursuant to this clause (a) by
        Restricted Subsidiaries that are not the Issuer or Guarantors may not exceed the greater of (x) $330.0 million and (y) 50.0% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four consecutive fiscal quarters, determined
        on a pro forma basis, at any one time outstanding, or

       

      

      
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      (b)          the Debt is Permitted Debt.

       

      

      “Permitted Debt” means:

       

      

      (i)           Debt of the Issuer evidenced by the Notes (but not any Additional Notes) issued on the Issue Date and Guarantees thereof by any Guarantor;

       

      

      (ii)          Debt of the Company or a Restricted Subsidiary Incurred under the Credit Facilities up to an aggregate principal amount at any one time
        outstanding not to exceed the sum of (A) $1,600.0 million, (B) the greater of (x) $665.0 million and (y) 100% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four consecutive fiscal quarters, determined on a pro forma
        basis, (C) an additional amount so long as after giving effect to the Incurrence of such additional amount the Consolidated Secured Leverage Ratio, determined on a pro forma basis, does not exceed (x) 3.75 to 1.00 or (y) if such amount is being
        Incurred in connection with an acquisition or Investment permitted under this Indenture, the greater of 3.75 to 1.00 and the Consolidated Secured Leverage Ratio as calculated immediately prior to giving effect to such transaction (provided that any
        Debt Incurred pursuant to this clause (C) shall be deemed to be secured by a Lien on the assets of the Company and the Restricted Subsidiaries solely for purposes of such calculation); provided that, for
        purposes of calculating availability under this clause (C), amounts incurred pursuant to clause (A) above that are outstanding shall be included in the calculation of the Consolidated Secured Leverage Ratio and (D) in the case of any Refinancing of
        any Debt permitted under this clause or any portion thereof, the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, premiums and other costs and expenses incurred in connection with such Refinancing;

       

      

      (iii)        Debt of the Company owing to and held by any Restricted Subsidiary and Debt of a Restricted Subsidiary owing to and held by the Company or any
        Restricted Subsidiary; provided, however, that (1) any subsequent issue or transfer of Capital Stock or other event that results in any Restricted Subsidiary
        ceasing to be a Restricted Subsidiary or any subsequent transfer of that Debt (except to the Company or a Restricted Subsidiary) shall be deemed, in each case, to constitute the Incurrence of that Debt by the issuer thereof, and (2) if a Guarantor
        is the obligor on that Debt and the Debt is owed to a Restricted Subsidiary that is not the Guarantor, the Debt is expressly subordinated to the prior payment in full in cash of all obligations with respect to the Notes or the applicable Note
        Guaranty;

       

      

      
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      (iv)         Debt of a Restricted Subsidiary outstanding on the date on which that Restricted Subsidiary was acquired by the Company or otherwise became a
        Restricted Subsidiary or Debt Incurred as consideration in, or to provide all or any portion of the funds or credit support utilized to consummate, a transaction or series of transactions pursuant to which the Restricted Subsidiary became a
        Restricted Subsidiary of the Company or was otherwise acquired by the Company; provided that at the time that Person was acquired by the Company or otherwise became a Restricted Subsidiary and after giving
        effect to the Incurrence of that Debt, on a pro forma basis, (i) the Company would have been able to Incur $1.00 of additional Debt pursuant to clause (a) of this Section 4.04 or (ii) the Consolidated Fixed Charges Coverage Ratio is at least equal
        to such ratio immediately prior to such transaction;

       

      

      (v)          Debt under Interest Rate Agreements entered into by the Company or a Restricted Subsidiary not for speculative purposes;

       

      

      (vi)         Debt under Currency Exchange Protection Agreements entered into by the Company or a Restricted Subsidiary not for speculative purposes;

       

      

      (vii)       Debt under Commodity Price Protection Agreements entered into by the Company or a Restricted Subsidiary not for speculative purposes;

       

      

      (viii)      Debt in connection with one or more standby letters of credit or performance or surety bonds or completion guarantees issued by the Company or a
        Restricted Subsidiary not in connection with the borrowing of money;

       

      

      (ix)         Debt arising from agreements of the Company or a Restricted Subsidiary providing for indemnification, adjustment of purchase price or similar
        obligations, in each case, Incurred in connection with the disposition of any business, assets or Capital Stock of a Subsidiary, other than Guarantees of Debt Incurred by any Person acquiring all or any portion of such business, assets or Capital
        Stock; provided, however, that the maximum aggregate liability in respect of all such Debt shall at no time exceed the gross proceeds actually received by the
        Company or such Restricted Subsidiary in connection with such disposition;

       

      

      (x)          Debt of the Company and its Restricted Subsidiaries outstanding on the Issue Date, (other than Debt referenced in clauses clauses (i) or (ii)
        above);

       

      

      (xi)         Debt of the Company or a Restricted Subsidiary in an aggregate principal amount outstanding at any one time not to exceed the sum of (A) the
        greater of (x) $330.0 million or (y) 50.0% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four consecutive fiscal quarters, determined on a pro forma basis, (B) the amount available to make Restricted Payments pursuant
        to clause (j) of the third paragraph of Section 4.05 (measured at the time of incurrence and on a pro forma basis) (provided that any Debt outstanding pursuant to this clause (xi)(B) shall reduce the amount available to make Restricted Payments
        pursuant to clause (j) of the third paragraph of Section 4.05 and (C) in the case of any Refinancing of any Debt permitted under this clause or any portion thereof, the aggregate amount of fees, underwriting discounts, accrued and unpaid interest,
        premiums and other costs and expenses incurred in connection with such Refinancing;

       

      

      
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      (xii)       Debt of the Company or a Restricted Subsidiary Incurred in respect of Capital Lease Obligations, Synthetic Lease Obligations and Purchase Money
        Debt or in connection with a Sale and Leaseback Transaction, provided that the principal amount of any Debt Incurred pursuant to this clause outstanding at any one time may not exceed the greater of (x)
        $175.0 million or (y) 25.0% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four consecutive fiscal quarters, determined on a pro forma basis;

       

      

      (xiii)      Debt of the Issuer or any Guarantor consisting of Guarantees of Debt of the Company or any Restricted Subsidiary Incurred under any other clause
        of this Section 4.04;

       

      

      (xiv)       Debt of Foreign Subsidiaries (i) Incurred to provide consideration for, or to provide all or any portion of the funds or credit support utilized
        to consummate, an acquisition or Investment permitted under this Indenture, provided that at the time that Person was acquired by the Company or otherwise became a Restricted Subsidiary and after giving effect to the Incurrence of that Debt, on a
        pro forma basis, (A) the Company would have been able to Incur $1.00 of additional Debt pursuant to clause (a) of this Section 4.04 or (B) the Consolidated Fixed Charges Coverage Ratio is at least equal to such ratio immediately prior to such
        transaction: or (ii) in an aggregate principal amount outstanding at any one time not to exceed the greater of (x) $175.0 million or (y) 25% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four consecutive fiscal
        quarters, determined on a pro forma basis, plus, in the case of any Refinancing of any Debt permitted under this clause or any portion thereof, the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, premiums and other
        costs and expenses incurred in connection with such Refinancing;

       

      

      (xv)        Debt under Hedging Obligations that are Incurred not for speculative purposes;

       

      

      (xvi)       Debt Incurred by the Company or any of its Restricted Subsidiaries in respect of workers’ compensation claims, health, disability or other
        employee benefits or property or casualty or liability insurance, self-insurance obligations, performance, bid surety, appeal and similar bonds and completion or performance of guarantees (not for borrowed money), and any letters of credit
        functioning as or supporting any of the foregoing;

       

      

      (xvii)      (a) Debt arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient
        funds or (b) Debt owed on a short-term basis of no longer than 30 days to banks or financial institutions that arises in connection with ordinary banking arrangements to manage cash balances of the Company and its Subsidiaries;

       

      

      
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      (xviii)     shares of Preferred Stock of a Restricted Subsidiary issued to the Company or another Restricted Subsidiary; provided

        that any subsequent issuance or transfer of any Capital Stock or any other event that results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred Stock
        (except to the Company or another of its Restricted Subsidiaries) shall be deemed in each case to be an issuance of such shares of Preferred Stock not permitted by this clause (xviii);

        

      

      (xix)       Debt to the extent that the net proceeds thereof are promptly deposited to defease or to satisfy and discharge the Notes in each case in
        accordance with the requirements of this Indenture;

       

      

      (xx)        Permitted Refinancing Debt Incurred in respect of Debt Incurred pursuant to clause (a) of this Section 4.04 and clauses (i), (iv), (x) and
        (xiv)(i) above, this clause (xx) or clause (xxiv) below;

       

      

      (xxi)       the Separation Obligations;

       

      

      (xxii)     Debt under any Permitted Receivables Financing Incurred after the Issue Date in an aggregate principal amount outstanding at any one time not to
        exceed the greater of (x) $245.0 million and (y) 35% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four consecutive fiscal quarters, determined on a pro forma basis, plus, in the case of any Refinancing of any Debt
        permitted under this clause or any portion thereof, the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, premiums and other costs and expenses incurred in connection with such Refinancing;

       

      

      (xxiii)    Debt incurred in connection with the assumption of any (a) Assumed Liabilities (as defined in the Battery Acquisition Agreement) and (b) Assumed
        Liabilities (as defined in the Auto Care Acquisition Agreement);

        

      

      (xxiv)     Debt incurred by the Company or any Restricted Subsidiary, provided that after giving effect to the Incurrence of such Debt, determined on a pro
        forma basis, the Consolidated Leverage Ratio does not exceed (x) 6.50 to 1.00 or (y) if such Debt is incurred in connection with an acquisition or Investment permitted under this Indenture, the greater of 6.50 to 1.00 and the Consolidated Leverage
        Ratio as calculated immediately prior to giving effect to such transaction;

       

      

      (xxv)      Debt under any agreement governing the provision of treasury or cash management services, including deposit accounts, overnight draft, credit
        cards, debit cards, p-cards (including purchasing cards and commercial cards), funds transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation and reporting and
        trade finance services and other cash management services;

       

      

      (xxvi)     Debt consisting of (A) the financing of insurance premiums and (B) take-or-pay obligations contained in supply arrangements;

       

      

      
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      (xxvii)   Debt Incurred on behalf of, or representing Guarantees of Debt of, joint ventures in an aggregate principal amount outstanding at any one time not
        to exceed the greater of (x) $245.0 million and (y) 35% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four consecutive fiscal quarters, determined on a pro forma basis, plus, in the case of any Refinancing of any Debt
        permitted under this clause or any portion thereof, the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, premiums and other costs and expenses incurred in connection with such Refinancing;

       

      

      (xxviii)  Guarantees by the Company or any Restricted Subsidiary of any lease or sublease permitted by this Indenture of real property entered into by the
        Company or any Restricted Subsidiary; and

       

      

      (xxix)     Debt incurred by Restricted Subsidiaries that are not the Issuer or Guarantors in an aggregate principal amount outstanding at any one time not to
        exceed the greater of (x) $245.0 million and (y) 35% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four consecutive fiscal quarters, determined on a pro forma basis, plus, in the case of any Refinancing of any Debt
        permitted under this clause or any portion thereof, the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, premiums and other costs and expenses incurred in connection with such Refinancing.

       

      

      For purposes of determining compliance with any restriction on the Incurrence of Debt in dollars where Debt is denominated in a different currency the amount of such Debt will be the U.S. Dollar Equivalent determined
        on the date of such determination.  The principal amount of any Permitted Refinancing Debt Incurred in the same currency as the Debt being Refinanced will be the U.S. Dollar Equivalent of the Debt Refinanced determined on the date such Debt being
        Refinanced was initially Incurred.  Accrual of interest, the accretion of accreted value, the accretion or amortization of original issue discount, the payment of interest or dividends in the form of additional Debt, the accretion of liquidation
        preference and increases in the amount of Debt outstanding solely as a result of fluctuations in the exchange rate of currencies will not be deemed to be an Incurrence of Debt for purposes of this Section 4.04.

       

      

      In connection with the Incurrence of (x) revolving loan Debt under this Section 4.04 or (y) any commitment relating to the Incurrence of Debt under this Section 4.04 and the granting of any Lien to secure such Debt,
        the Company or applicable Restricted Subsidiary may designate such Incurrence and the granting of any Lien therefor as having occurred on the date of first Incurrence of such revolving loan Debt or commitment (such date, the “Deemed Date”), and any related subsequent actual Incurrence and granting of such Lien therefor will be deemed for all purposes under this Indenture to have been Incurred and granted on such Deemed Date,
        including, without limitation, for purposes of calculating the Consolidated Fixed Charges Coverage Ratio, usage of any baskets hereunder (if applicable), the Consolidated Leverage Ratio, the Consolidated Secured Leverage Ratio and Consolidated
        EBITDA (and all such calculations on and after the Deemed Date until the termination or funding of such commitment shall be made on a pro forma basis giving effect to the deemed Incurrence, the granting of any Lien therefor and related transactions
        in connection therewith).

       

      

      
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      Section 4.05.        Limitation on Restricted Payments.  The Company shall not make, and shall not permit any Restricted Subsidiary to
        make, directly or indirectly, any Restricted Payment if at the time of, and after giving effect to, the proposed Restricted Payment,

        

      

      (a)          a Default or Event of Default shall have occurred and be continuing,

       

      

      (b)          the Company could not Incur at least $1.00 of additional Debt pursuant to clause (a) of Section 4.04, or

       

      

      (c)          the aggregate amount of that Restricted Payment and all other Restricted Payments declared or made pursuant to this clause (c) after July 1, 2015 (the amount of
        any Restricted Payment, if made other than in cash, to be based upon Fair Market Value) would exceed an amount equal to the sum of:

       

      

      (i)           50% of the aggregate amount of Consolidated Net Income accrued during the period (treated as one accounting period) from October 1, 2015 to the
        end of the most recent fiscal quarter ending prior to the date of such Restricted Payment and for which reports are required to be provided under Section 4.03 (or if the aggregate amount of Consolidated Net Income for such period shall be a
        deficit, minus 100% of such deficit; provided, that at no time shall this clause (i) equal an amount that is less than zero as a result of such reduction), plus

       

        

      (ii)          Capital Stock Sale Proceeds received after July 1, 2015, plus

       

      

      (iii)         the sum of:

       

      

      (A)         the aggregate Net Cash Proceeds received by the Company or any Restricted Subsidiary from the issuance or sale after July 1, 2015 of convertible
        or exchangeable Debt that has been converted into or exchanged for Capital Stock (other than Disqualified Stock) of the Company, and

       

      

      (B)         the aggregate amount by which the principal amount of Debt of the Company or any Restricted Subsidiary is reduced on or after July 1, 2015 upon
        the conversion or exchange of any Debt issued or sold on or prior to July 1, 2015 that is convertible or exchangeable for Capital Stock (other than Disqualified Stock) of the Company,

       

      

      excluding, in the case of clause (A) or (B):

       

      

      (x)          any Debt issued or sold to the Company or a Subsidiary of the Company or an employee stock ownership plan or trust established by the Company or any Subsidiary for the benefit of their
        employees, and

       

      

      
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      (y)          the aggregate amount of any cash or other Property distributed by the Company or any Restricted Subsidiary upon any such conversion or exchange, plus

       

        

      (iv)        100% of the aggregate amount received by the Company or any of its Restricted Subsidiaries in cash and the Fair Market Value of other property
        received by means of:

       

      

      (A)         the sale or other disposition (other than to the Company or a Restricted Subsidiary) of, or other returns on Investment from, Investments made by
        the Company and its Restricted Subsidiaries and repurchases and redemptions of such Investments from the Company and its Restricted Subsidiaries and repayments of loans or advances, and releases of guarantees, which constitute Investments made by
        the Company or its Restricted Subsidiaries, in each case, after July 1, 2015, and

       

      

      (B)         the designation of an Unrestricted Subsidiary as a Restricted Subsidiary (provided that such designation occurs after July 1, 2015) or the sale
        (other than to the Company or a Restricted Subsidiary) of the Capital Stock of an Unrestricted Subsidiary (after July 1, 2015) to the extent such designation or sale is permitted by this Indenture;

       

      

      plus

      (v)          without duplication, any cash dividends or cash distributions or other assets received directly or indirectly by the Issuer or a Guarantor after
        July 1, 2015 from an Unrestricted Subsidiary, to the extent such dividends or distributions were not otherwise included in Consolidated Net Income (other than to the extent such distribution represents a return of capital and the Investment in such
        Unrestricted Subsidiary was made by the Restricted Subsidiary pursuant to clause (j) of the second paragraph of this covenant or to the extent such Investment constituted a Permitted Investment).

       

      

      Notwithstanding the foregoing limitation, the Company and any Restricted Subsidiary may:

       

      

      (a)          declare or pay dividends on its Capital Stock or make distributions, or consummate any irrevocable redemption, within 60 days after the date of declaration of the
        dividend or distribution or giving of the redemption notice, as the case may be, if, on said date of declaration or redemption notice, such dividends, distributions or redemption, as the case may be, could have been paid or made in compliance with
        this Indenture;

       

      

      (b)          purchase, repurchase, redeem, legally defease, acquire or retire for value Capital Stock of the Company or Subordinated Obligations in exchange for, or out of the
        proceeds of the substantially concurrent sale of, Capital Stock of the Company (other than Disqualified Stock and other than Capital Stock issued or sold to a Subsidiary of the Company or an employee stock ownership plan or trust established by the
        Company or any Subsidiary for the benefit of their employees); provided, however, that the Capital Stock Sale Proceeds from the exchange or sale shall be excluded
        from the calculation pursuant to clause (c)(ii) above;

       

      

      
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      (c)          purchase, repurchase, redeem, legally defease, acquire or retire for value any Subordinated Obligations or Disqualified Stock in exchange for, or out of the
        proceeds of the substantially concurrent sale of, Permitted Refinancing Debt (in the case of Subordinated Obligations only) or Disqualified Stock;

       

      

      (d)          pay scheduled dividends (not constituting a return on capital) on, or mandatorily redeem, Disqualified Stock;

       

      

      (e)          in the case of any Restricted Subsidiary of the Company, pay dividends to shareholders of that Restricted Subsidiary, so long as the Company or a Restricted
        Subsidiary receives dividends on a pro rata basis or on a basis that results in the receipt by the Company or a Restricted Subsidiary of dividends or distributions of greater value than it would receive on
        a pro rata basis;

       

      

      (f)          make cash payments in lieu of fractional shares in connection with the exercise of warrants, options or other securities convertible into Capital Stock of the
        Company;

       

      

      (g)          make repurchases of shares of Capital Stock (other than Disqualified Stock) of the Company deemed to occur (i) upon the exercise of options to purchase shares of
        Capital Stock (other than Disqualified Stock) of the Company, warrants, other rights to acquire Capital Stock (other than Disqualified Stock) if such shares of Capital Stock (other than Disqualified Stock) of the Company represent a portion of the
        exercise price of such options, warrants or other rights and (ii) in connection with the withholding of a portion of the Capital Stock granted or awarded to a director or an employee to pay for the taxes payable by such director or employee upon
        such grant or award;

       

      

      (h)          repurchase shares of, or options to purchase shares of, common stock of the Company from current or former officers, directors or employees of the Company or any
        of its Subsidiaries (or permitted transferees of such current or former officers, directors or employees), pursuant to the terms of agreements (including employment agreements) or plans approved by the Board of Directors under which such
        individuals acquire shares of such common stock; provided, however, that the aggregate amount of such repurchases shall not exceed $30.0 million in any calendar
        year (with unused amounts in any calendar year carried over to succeeding calendar years);

        

      

      (i)           purchase, defease or otherwise acquire or retire for value any Subordinated Obligations upon a Change of Control of the Company or an Asset Sale by the Company or
        a Restricted Subsidiary, to the extent required by any agreement pursuant to which such Subordinated Obligations were issued, but only if the Issuer has previously made the offer to purchase Notes required under Section 4.07 or Section 4.12 and has
        repurchased all Notes validly tendered and not withdrawn in connection with such offer to purchase Notes pursuant to Section 4.07 or Section 4.12;

       

      

      
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      (j)           make other Restricted Payments not to exceed in the aggregate the greater of (x) $245.0 million and (y) 35% of the Company’s aggregate amount of Consolidated
        EBITDA for the most recent four consecutive fiscal quarters, determined on a pro forma basis (provided that any Restricted Payments made pursuant to this clause (j) shall reduce the amount available to Incur Debt pursuant to clause (xi)(B) of the
        definition of “Permitted Debt” in Section 4.04;

       

      

      (k)          declare or pay dividends on common stock or preferred stock of the Company of up to the greater of (x) $175.0 million and (y) 25% of the Company’s aggregate amount
        of Consolidated EBITDA for the most recent four consecutive fiscal quarters, determined on a pro forma basis, in any fiscal year of the Company so long as at the time of, and after giving effect to such dividend no Event of Default described in
        (a), (b), or (g) of the first paragraph under “Events of Default” shall have occurred and be continuing or will result therefrom;

       

      

      (l)           make any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Disqualified Stock of the Company or a Restricted Subsidiary made by
        exchange for or out of the proceeds of, the substantially concurrent sale of Disqualified Stock of the Company or such Restricted Subsidiary, as the case may be, so long as such Refinancing Disqualified Stock is permitted to be Incurred pursuant to
        Section 4.04 and constitutes Refinancing Debt;

       

      

      (m)         so long as no Event of Default described under (a), (b) or (g) of the first paragraph under “Events of Default” has occurred and is continuing or will result
        therefrom, make other Restricted Payments if, immediately after giving effect to such Restricted Payments (including the Incurrence of any Debt to finance such payment), the Consolidated Leverage Ratio would not be greater than 3.75 to 1.00,
        determined on a pro forma basis;

       

      

      (n)          make any payments in connection with the Transactions, any payments made in connection with the Auto Care Transactions, any payments made in connection with the
        Battery Transactions, any payments made in connection with the Spin-off Transactions, and any payments made in connection with the Spin-off Interim Ordinary Course Transactions or the Spin-off Internal Reorganization;

       

      

      (o)          make payments or distributions to satisfy dissenters’ rights, pursuant to or in connection with a consolidation, merger or transfer of assets that complies with
        the provisions of this Indenture applicable to mergers, consolidations and transfers of all or substantially all the property and assets of the Company; and

       

      

      (p)          the distribution, by dividend or otherwise, of shares of Capital Stock of, or Debt owed to the Company or a Restricted Subsidiary by, Unrestricted Subsidiaries.

       

      

      
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      Section 4.06.        Limitation on Liens.  The Company shall not, and shall not permit any Restricted Subsidiary to, directly or
        indirectly, Incur or suffer to exist, any Lien (other than Permitted Liens) upon any of its Property (including Capital Stock of a Restricted Subsidiary), whether owned at the Issue Date or thereafter acquired, or any interest therein or any income
        or profits therefrom unless (a) it has made or will make effective provision whereby the Notes will be secured by a Lien equally and ratably with (or prior to) all other Debt of the Company or any Restricted Subsidiary secured by such Lien or (b)
        in the case of Liens securing obligations that are subordinated in right of payment to the Notes, the Notes and the related Note Guarantees are secured by a Lien on such property, assets or proceeds that is senior to such Liens.

       

      

      Any Lien created for the benefit of the Holders of the Notes pursuant to this Section 4.06 shall be automatically and unconditionally released and discharged upon the release and discharge of each of the Liens
        described in clauses (a) and (b) above.

       

      

      With respect to any revolving loan Debt or commitment relating to the Incurrence of Debt that is designated to be Incurred on any date pursuant to Section 4.04, any Lien that does or that shall secure such Debt may
        also be designated by the Company or any Restricted Subsidiary to be Incurred on such date and, in any such event, any related subsequent actual Incurrence of such Lien shall be deemed for all purposes under this Indenture to be Incurred on such
        prior date, including for purposes of calculating usage of any “Permitted Lien” until such time as the related Debt is no longer deemed outstanding pursuant to the fourth paragraph of Section 4.04.

       

      

      With respect to any Lien securing Debt that was permitted to secure such Debt at the time of the Incurrence of such Debt, such Lien shall also be permitted to secure any Increased Amount of such Debt. The “Increased
        Amount” of any Debt shall mean any increase in the amount of such Debt in connection with any accrual of interest, the accretion of accreted value, the amortization of original issue discount or deferred financing costs, the payment of interest in
        the form of additional Debt with the same terms or in the form of Common Stock of the Company, the payment of dividends on Preferred Stock in the form of additional shares of Preferred Stock of the same class, accretion of original issue discount
        or deferred financing costs or liquidation preference and increases in the amount of Debt outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property securing Debt.

       

      

      Section 4.07.        Limitation on Asset Sales.

       

      

      (a)          The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, consummate any Asset Sale unless:

       

      

      (i)           the Company or the Restricted Subsidiary receives consideration (as determined in good faith by the Company at the time of contractually
        agreeing to the Asset Sale) at least equal to the Fair Market Value of the Property subject to such Asset Sale; and

       

      

      (ii)          at least 75% of the consideration paid to the Company or the Restricted Subsidiary in connection with such Asset Sale, together with all other
        Asset Sales since the Issue Date, is in the form of cash or Cash Equivalents or the assumption or termination by the purchaser of liabilities of the Company or any Restricted Subsidiary (other than liabilities that are by their terms subordinated
        to the Notes) as a result of which the Company and the Restricted Subsidiaries are no longer obligated with respect to such liabilities.

       

      

      
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      For the purposes of this Section 4.07:

       

      

      (1)          securities or other assets received by the Company or any Restricted Subsidiary from the transferee that are converted by the Company or such Restricted Subsidiary into cash within 180
        days after the closing of such Asset Sale shall be considered to be cash to the extent of the cash received in that conversion;

       

      

      (2)          any cash consideration paid to the Company or the Restricted Subsidiary in connection with the Asset Sale that is held in escrow or on deposit to support indemnification, adjustment of
        purchase price or similar obligations in respect of such Asset Sale shall be considered to be cash;

       

      

      (3)          Productive Assets received by the Company or any Restricted Subsidiary in connection with the Asset Sale shall be considered to be cash;

       

      

      (4)          the requirement that at least 75% of the consideration paid to the Company or the Restricted Subsidiary in connection with the Asset Sale be in the form of cash or Cash Equivalents or
        assumed or terminated liabilities shall also be considered satisfied if the cash or Cash Equivalents received constitutes at least 75% of the consideration received by the Company or the Restricted Subsidiary in connection with such Asset Sale,
        determined on an after-tax basis; and

       

      

      (5)          any Designated Non-Cash Consideration received by the Company or any Restricted Subsidiary in connection with the Asset Sale having an aggregate Fair Market Value, taken together with
        all other Designated Non-Cash Consideration received in respect of Asset Sales that is at that time outstanding not to exceed the greater of (x) $70.0 million or (y) 10.0% of the Company’s aggregate amount of Consolidated EBITDA for the most recent
        four consecutive fiscal quarters, determined on a pro forma basis, shall be considered to be cash.

       

      

      (b)          The Net Available Cash (or any portion thereof) from Asset Sales may be applied by the Company or a Restricted Subsidiary, to the extent the Company or such
        Restricted Subsidiary elects (or is required by the terms of any Debt):

       

      

      (i)           to Repay (x) secured Debt of the Issuer or a Guarantor (and if the secured Debt being repaid is revolving credit Debt, to correspondingly
        permanently reduce commitments with respect thereto), (y) any Debt of a non-Guarantor Restricted Subsidiary (excluding, in any such case, any Debt that is owed to the Company or a Restricted Subsidiary of the Company) or (z) obligations under the
        Notes;

       

      

      
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      (ii)          to Repay other Debt of the Company or a Restricted Subsidiary (other than Subordinated Obligations and Debt owed to the Company or a Restricted
        Subsidiary of the Company) so long as the Company shall equally and ratably reduce (or offer to reduce) obligations under the Notes (i) on a pro rata basis pursuant to Section 3.07, (ii) through open-market purchases or privately negotiated
        arm’s-length transactions or (iii) by making an offer (in accordance with the procedures set forth below for a Prepayment Offer) to all Holders to purchase their Notes at 100% of the principal amount thereof, plus the amount of accrued but unpaid
        interest, if any, on the amount of Notes that would otherwise be prepaid;

       

      

      (iii)         to reinvest in Additional Assets (including by means of an Investment in Additional Assets by a Restricted Subsidiary with Net Available Cash
        received by the Company or another Restricted Subsidiary); or

       

      

      (iv)         any combination of the foregoing.

       

      

      (c)          Any Net Available Cash from an Asset Sale not applied in accordance with the preceding paragraph within 450 days from the date of the receipt of such Net Available
        Cash or that the Company earlier elects to so designate shall constitute “Excess Proceeds,” provided, however, that a
        binding commitment to reinvest in Additional Assets pursuant to clause (b) of this Section 4.07 shall be treated as a permitted application of the Net Available Cash from the date of such commitment; provided that

        (i) such reinvestment is consummated within 180 days of the end of the 450 day period referred to in this sentence, and (ii) if such reinvestment is not consummated within the period set forth in subclause (i) or such binding commitment is
        terminated, the Net Available Cash not so applied will be deemed to be Excess Proceeds.

       

      

      When the aggregate amount of Excess Proceeds not previously subject to a Prepayment Offer (as defined below) exceeds the greater of (x) $70.0 million and (y) 10% of the Company’s aggregate amount of Consolidated EBITDA
        for the most recent four consecutive fiscal quarters, determined on a pro forma basis, the Issuer will be required to make an offer to purchase (the “Prepayment Offer”) the Notes, which offer shall be in the
        amount of the Allocable Excess Proceeds, on a pro rata basis according to principal amount, at a purchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to
        the purchase date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date), in accordance with the procedures (including prorating in the event of oversubscription) set
        forth in this Indenture. To the extent that any portion of the amount of Net Available Cash remains after compliance with the preceding sentence and provided that all Holders of Notes have been given the
        opportunity to tender their Notes for purchase in accordance with this Indenture, the Company or such Restricted Subsidiary may use the remaining amount for any purpose permitted by this Indenture and the amount of Excess Proceeds will be reset to
        zero.

       

      

      The term “Allocable Excess Proceeds” will mean the product of:

       

      

      
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      (i)           the Excess Proceeds, and

       

      

      (ii)          a fraction,

       

      

      (x)          the numerator of which is the aggregate principal amount of the Notes outstanding on the date of the Prepayment Offer, and

       

      

      (y)          the denominator of which is the sum of the aggregate principal amount of the Notes outstanding on the date of the Prepayment Offer and the aggregate principal amount of other Debt of the
        Company outstanding on the date of the Prepayment Offer that is pari passu in right of payment with the Notes and that requires the Company to make an offer to purchase such Debt at substantially the same
        time as the Prepayment Offer.

       

      

      (d)          Not later than ten Business Days after the Issuer is obligated to make a Prepayment Offer as described in clause (c) of this Section 4.07, the Issuer shall send, or cause to be sent, a written notice, by
        first-class mail (or electronic transmission in the case of Notes held in book-entry form), to the Holders of Notes, with a copy to the Trustee. The notice shall state, among other things, the purchase price and the purchase date, which shall be,
        subject to any contrary requirements of applicable law, a Business Day no earlier than 10 days and no later than 60 days from the date the notice is delivered.

       

      

      (e)          The Issuer will comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other securities laws or regulations in connection with the repurchase of Notes pursuant
        to this Section 4.07. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Section 4.07, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have
        breached its obligations under this Section 4.07 by virtue thereof.

       

      

      (f)          Notwithstanding any other provision of this Section 4.07, (i) to the extent that the application of any or all of the Net Available Cash of any Asset Sale by the Company or a Restricted Subsidiary is (x)
        prohibited, restricted or delayed by applicable local law, (y) restricted by applicable organizational documents or any agreement or (z) subject to other organizational or administrative impediments from being repatriated under applicable local
        law, an amount equal to the portion of such Net Available Cash so affected will not be required to be applied in compliance with this covenant, and such amounts may be retained by the Company or the applicable Restricted Subsidiary; provided that if at any time within one year following the date on which the respective payment would otherwise have been required, such repatriation of any of such affected Net Available Cash is permitted and
        not restricted under the applicable local law, the applicable organizational document or agreement or the applicable other impediment, an amount equal to such amount of Net Available Cash so permitted to be repatriated will be promptly applied (net
        of any taxes, costs or expenses that would be payable or reserved against if such amounts were actually repatriated whether or not they are repatriated) in compliance with this covenant and (ii) to the extent that the Company has determined in good
        faith that repatriation of any or all of the Net Available Cash of any Asset Sale could have a material adverse tax consequence with respect to such Net Available Cash (which for the avoidance of doubt, includes, but is not limited to, any
        prepayment whereby doing so the Company, any Restricted Subsidiary or any of their respective Affiliates and/or their equityholders would incur a tax liability, including as a result of a tax dividend or a withholding tax), the Net Available Cash
        so affected may be retained by the Company or the applicable Restricted Subsidiary and an amount equal to such Net Available Cash will not be required to be applied in compliance with this covenant. The non-application of any prepayment amounts as
        a consequence of the foregoing provisions will not, for the avoidance of doubt, constitute a Default or an Event of Default. For the avoidance of doubt, nothing in this Indenture shall be construed to require the Company or any Subsidiary to
        repatriate cash.

       

      

      
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      Section 4.08.        Limitation on Restrictions on Distributions from Restricted Subsidiaries.  The Company shall not, and shall not
        permit any Restricted Subsidiary that is not the Issuer or a Guarantor to, directly or indirectly, create or otherwise cause or suffer to exist any consensual restriction on the right of any such Restricted Subsidiary to:

       

      

      (a)          pay dividends, in cash or otherwise, or make any other distributions on or in respect of its Capital Stock, or pay any Debt or other obligation owed, to the
        Company, the Issuer or any other Subsidiary Guarantor (it being understood that the priority of any Preferred Stock in receiving dividend or liquidating distributions prior to the dividends or liquidating distributions being paid on common stock
        shall not be deemed a restriction on the ability to make distributions on Capital Stock),

        

      

      (b)          make any loans or advances to the Company, the Issuer or any Subsidiary Guarantor (it being understood that the subordination of loans or advances made to the
        Company or any Restricted Subsidiary to other Debt Incurred by the Company or any Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances), or

        

      

      (c)          sell, lease or transfer any of its Property to the Company, the Issuer or any Subsidiary Guarantor (it being understood that such transfers shall not include any
        type of transfer described in clause (a) or (b) above).

       

      

      The foregoing limitations will not apply to restrictions:

        

      

      (i)           in effect on the Issue Date, including, but not limited to the Credit Agreement and the Existing Notes Indentures;

       

      

      (ii)          with respect to a Person that becomes a Restricted Subsidiary (including any Unrestricted Subsidiary that is redesignated as a Restricted
        Subsidiary in accordance with this Indenture) or merges, consolidates or amalgamates with or into the Company or a Restricted Subsidiary on or after the Issue Date, in each case, if such restriction was not created in connection with or in
        anticipation of the transaction or series of transactions pursuant to which that Restricted Subsidiary became a Restricted Subsidiary or was merged, consolidated or amalgamated with or into the Company or such Restricted Subsidiary;

       

      

      
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      (iii)         that result from any amendment, restatement, modification, renewal, supplement, extension, replacement or Refinancing of Debt Incurred pursuant
        to an agreement referred to in clause (i) or (ii) above, in clause (vi), (vii) or (x) below or this clause (iii), provided that the restriction contained in such amendment, restatement, modification,
        renewal, supplement, extension, replacement or Refinancing (1) in the good faith judgment of the Company, will not materially impair the Issuer’s ability to make payments under the Notes when due, (2) applies only during the continuance of a
        default in respect of a payment or financial maintenance covenant relating to such Debt or (3) is either not materially more restrictive taken as a whole (as conclusively determined in good faith by the Company), than those contained in the
        agreements or instruments referred to in clauses (i), (ii), (vi), (vii) or (x) or this clause (iii), as applicable, or with respect to this clause (3), generally represents market terms (as conclusively determined in good faith by the Company) at
        the time of Incurrence;

       

      

      (iv)         resulting from the Incurrence of any Debt permitted to be Incurred under Section 4.04, provided that
        the restriction contained in such Debt (1) in the good faith judgment of the Company, will not materially impair the Issuer’s ability to make payments under the Notes when due, (2) applies only during the continuance of a default in respect of a
        payment or financial maintenance covenant relating to such Debt, or (3) is either not materially more restrictive taken as a whole (as conclusively determined in good faith by the Company) than those contained in the Notes, the Existing Notes or
        the Credit Agreement, or with respect to this clause (3), generally represents market terms (as conclusively determined in good faith by the Company) at the time of Incurrence;

       

      

      (v)          existing by reason of applicable law, rule, regulation or order;

       

      

      (vi)         with respect to clause (c) above only, relating to Debt that is permitted to be Incurred and secured without also securing the Notes pursuant to
        Section 4.04 and Section 4.06 that limit the right of the debtor to dispose of the Property securing that Debt;

       

      

      (vii)        encumbering Property at the time the Property was acquired by the Company or any Restricted Subsidiary, so long as the restriction relates
        solely to the Property so acquired and was not created in connection with or in anticipation of the acquisition;

       

      

      (viii)       resulting from customary provisions restricting subletting or assignment of leases or customary provisions in other agreements that restrict
        assignment of the agreements or rights thereunder;

       

      

      (ix)         which are customary restrictions contained in asset sale agreements limiting the transfer of Property pending the closing of the sale;

       

      

      
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      (x)          existing pursuant to any Debt Incurred by a Foreign Subsidiary, which restrictions are customary for a financing of such type, and which are
        otherwise permitted under this Indenture, provided, however, that the Company’s Board of Directors determines in good faith that such restrictions are not reasonably likely to impair the Company’s ability
        to make principal and interest payments on the Notes;

       

      

      (xi)         existing by reason of this Indenture, the Notes, any exchange notes and the Note Guarantees;

        

      

      (xii)        contained in joint venture agreements, limited liability company agreements, organizational documents and other similar agreements;

       

      

      (xiii)       on cash or other deposits or net worth imposed by customers or suppliers;

       

      

      (xiv)       with respect to clause (c) of the first paragraph of this covenant only, arising or agreed to in the ordinary course of business, not relating to
        any Debt, and that do not, individually or in the aggregate, detract from the value of property or assets of the Company or any Restricted Subsidiary thereof in any manner material to the Company or any Restricted Subsidiary thereof;

       

      

      (xv)        contained in Hedging Obligations;

       

      

      (xvi)       constituting customary restrictions with respect to a Securitization Subsidiary, pursuant to the terms of a Permitted Receivables Financing;

       

      

      (xvii)      in the case of any Restricted Subsidiary that is not a Wholly Owned Restricted Subsidiary, restrictions and conditions imposed by its
        organizational documents or any related joint venture or similar agreement; and

       

      

      (xviii)     resulting from customary provisions, which restrict assignment of the agreements or rights thereunder, in connection with Intellectual Property
        licenses, covenants not to sue, releases or other similar rights or immunities.

       

      

      Section 4.09.        Limitation on Transactions with Affiliates.  The Company shall not, and shall not permit any Restricted
        Subsidiary to, directly or indirectly, enter into any transaction or series of transactions (including the purchase, sale, transfer, assignment, lease, conveyance or exchange of any Property or the rendering of any service) with, or for the benefit
        of, any Affiliate of the Company (an “Affiliate Transaction”) involving payments in excess of the greater of (x) $70.0 million and (y) 10% of the Company’s aggregate amount of Consolidated EBITDA for the most
        recent four consecutive fiscal quarters, determined on a pro forma basis, unless:

       

      

      (a)          the terms of such Affiliate Transaction are not materially less favorable to the Company or that Restricted Subsidiary, as the case may be, taken as a whole, than
        those that could be obtained in a comparable arm’s-length transaction with a Person that is not an Affiliate of the Company (as conclusively determined in good faith by the Company), and

       

      

      
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      (b)          if the Affiliate Transaction involves aggregate payments or value in excess of the greater of (x) $140.0 million and (y) 20% of the Company’s aggregate amount of
        Consolidated EBITDA for the most recent four consecutive fiscal quarters, determined on a pro forma basis, the Board of Directors approves the Affiliate Transaction.

       

      

      Notwithstanding the foregoing limitation, the Company or any Restricted Subsidiary may enter into the following:

       

      

      (a)          any transaction or series of transactions between the Company and one or more Restricted Subsidiaries or between two or more Restricted Subsidiaries;

        

      

      (b)          any Restricted Payment permitted to be made pursuant to Section 4.05 or any Permitted Investment;

       

      

      (c)          any reasonable or customary employment, consulting, service, severance, termination agreement, employee benefit plan, compensation arrangement, indemnification arrangement, or any similar arrangement
        entered into by the Company or a Restricted Subsidiary with a current or former director, officer or employee of the Company or a Restricted Subsidiary and payments related thereto; or any issuance of securities, or other payments, awards or grants
        in cash, securities or otherwise pursuant to, or the funding of, employment agreements and other compensation arrangements, options to purchase Capital Stock of the Company, restricted stock plans, restricted stock unit plans, long-term incentive
        plans, stock appreciation rights plans, participation plans or similar employee benefits plans and/or indemnity provided on behalf of directors, officers and employees of the Company or a Restricted Subsidiary approved by the Board of Directors of
        the Company;

       

      

      (d)          (i) reimbursement of employee travel and lodging costs and other business expenses incurred in the ordinary course of business and (ii) loans and advances to employees made in the ordinary course of
        business in compliance with applicable laws;

        

      

      (e)          any issuance of shares of Capital Stock (other than Disqualified Stock) of the Company;

       

      

      (f)          any agreement as in effect on the Issue Date or any amendment, modification, supplement, extension or renewal thereto (so long as such amendment, modification, supplement, extension or renewal is not
        materially adverse to the interests of the Holders of the Notes (as conclusively determined in good faith by the Company)) or any transaction contemplated thereby;

       

      

      (g)          any agreement between any Person and an Affiliate of such Person existing at the time such Person is acquired by or merged or consolidated with or into the Company or a Restricted Subsidiary, as such
        agreement may be amended, modified, supplemented, extended or renewed from time to time; provided that such agreement was not entered into in contemplation of such acquisition, merger or consolidation, and
        so long as any such amendment, modification, supplement, extension or renewal, when taken as a whole, is not materially more disadvantageous to the Holders (as conclusively determined in good faith by the Company), than the applicable agreement as
        in effect on the date of such acquisition, merger or consolidation;

       

      

      
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      (h)          transactions with customers, clients, suppliers, joint venture partners or purchasers or sellers of goods or services, in each case in the ordinary course of the business of the Company and its Restricted
        Subsidiaries and otherwise in compliance with the terms of this Indenture;

       

      

      (i)          transactions in which the Company or any Restricted Subsidiary delivers to the Trustee a letter or opinion from an Independent Financial Advisor stating that such transaction is fair to the Company or such
        Restricted Subsidiary from a financial point of view or stating that the terms are not materially less favorable, when taken as a whole, than those that might reasonably have been obtained by the Company or such Restricted Subsidiary in a
        comparable transaction at such time on an arms-length basis from a Person that is not an Affiliate;

       

      

      (j)          the Transactions, the Auto Care Transactions and the Battery Transactions and the payment of all fees and expenses related to the Transactions, the Auto Care Transactions and the Battery Transactions;

       

      

      (k)          any service, purchase, lease, supply or similar agreement entered into in the ordinary course of business (including, without limitation, pursuant to any joint venture agreement) between the Company or any
        Restricted Subsidiary and any Affiliate (other than an Unrestricted Subsidiary) that is a customer, client, supplier, purchaser or seller of goods or services;

       

      

      (l)          pledges of equity interests of Unrestricted Subsidiaries to secure Debt of such Unrestricted Subsidiaries;

       

      

      (m)          transactions entered into as part of a Permitted Receivables Financing on customary terms (as conclusively determined by the Company’s Board of Directors); and

       

      

      (n)          any licenses, covenants not to sue, releases or other similar rights or immunities granted with respect to Intellectual Property in the ordinary course of business or which, in the business judgment of the
        Company or the applicable Restricted Subsidiary, do not materially interfere with the business of the Company and Restricted Subsidiaries as a whole.

       

      

      Section 4.10.        Designation of Restricted and Unrestricted Subsidiaries.  The Board of Directors of the Company may designate or
        redesignate any Subsidiary of the Company (other than the Issuer) to be an Unrestricted Subsidiary if:

       

      

      (a)          immediately before and after such designation, no Event of Default shall have occurred and be continuing, and

       

      

      (b)          any of the following:

       

      

      
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      (i)           the Subsidiary to be so designated has total assets of $1,000 or less, or

       

      

      (ii)          if the Subsidiary has consolidated assets greater than $1,000, then the designation would be permitted under Section 4.05.

       

      

      Unless so designated as an Unrestricted Subsidiary, any Person that becomes a Subsidiary of the Company will be classified as a Restricted Subsidiary; provided, however, that the Subsidiary shall not be designated a Restricted Subsidiary and shall be automatically classified as an Unrestricted Subsidiary if the Person is a Subsidiary of an Unrestricted Subsidiary.

       

      

      Except as provided in the first sentence of the preceding paragraph, no Restricted Subsidiary may be redesignated as an Unrestricted Subsidiary. In addition, neither the Company nor any Restricted Subsidiary shall at
        any time be directly or indirectly liable for any Debt that provides that the holder thereof may (with the passage of time or notice or both) declare a default thereon or cause the payment thereof to be accelerated or payable prior to its Stated
        Maturity upon the occurrence of a default with respect to any Debt, Lien or other obligation of any Unrestricted Subsidiary in existence and classified as an Unrestricted Subsidiary at the time the Company or the Restricted Subsidiary is liable for
        that Debt (including any right to take enforcement action against that Unrestricted Subsidiary but other than with respect to the Capital Stock of that Unrestricted Subsidiary).

        

      

      The Board of Directors of the Company may designate or redesignate any Unrestricted Subsidiary to be a Restricted Subsidiary, provided that at the time of the designation or redesignation any Debt of such Unrestricted
        Subsidiary would be permitted pursuant to Section 4.04.  Any designation or redesignation of this kind by the Board of Directors of the Company will be evidenced to the Trustee by filing with the Trustee a resolution of the Board of Directors of
        the Company giving effect to the designation or redesignation and an Officer’s Certificate that gives the effective date of the designation or redesignation, and the filing with the Trustee to occur no later than the time period for which reports
        are required to be provided under Section 4.03 for the fiscal quarter of the Company in which the designation or redesignation is made.

       

      

      Section 4.11.        Limitation on Sale and Leaseback Transactions.  The Company shall not, and shall not permit any Restricted
        Subsidiary to, enter into any Sale and Leaseback Transaction with respect to any Property unless:

       

      

      (a)          the Company or that Restricted Subsidiary would be entitled to:

       

      

      (i)           Incur Debt in an amount equal to the Attributable Debt with respect to that Sale and Leaseback Transaction pursuant to Section 4.04, and

       

      

      (ii)          create a Lien on the Property securing that Attributable Debt without also securing the Notes pursuant to Section 4.06, and

        

      

      
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      (b)          the Sale and Leaseback Transaction is effected in compliance with Section 4.07 after treating all the consideration received in such Sale and Leaseback Transaction
        as Net Available Cash of such covenant.

       

      

      Section 4.12.        Change of Control.(a) Upon the occurrence of a Change of Control, each Holder of Notes shall have the right to
        require the Issuer to repurchase all or any part of such Holder’s Notes pursuant to the offer described below (the “Change of Control Offer”) at a purchase price (the “Change
          of Control Purchase Price”) equal to 101% of the principal amount thereof, plus accrued and unpaid interest and Additional Amounts, if any, to, but excluding, the purchase date (subject to the right of Holders of record on the relevant
        record date to receive interest due on the relevant interest payment date).

       

      

      (b)          Within 30 days following any Change of Control, the Issuer shall send or cause to be sent by first-class mail (or electronic transmission in the case of Notes held
        in book-entry form), with a copy to the Trustee, to each Holder of Notes, at such Holder’s address appearing in the Note register, a notice stating: (A) that a Change of Control has occurred and a Change of Control Offer is being made pursuant to
        this Section 4.12 and that all Notes timely tendered will be accepted for repurchase; (B) the Change of Control Purchase Price and the purchase date, which shall be, subject to any contrary requirements of applicable law, a Business Day no earlier
        than 10 days nor later than 60 days from the date such notice is delivered (the “Change of Control Payment Date”); and (C) the procedures that Holders of Notes must follow in order to tender their Notes (or
        portions thereof) for payment and the procedures that Holders of Notes must follow in order to withdraw an election to tender Notes (or portions thereof) for payment.

       

      

      (c)          Holders electing to have a Note purchased shall be required to surrender the Note, with an appropriate form duly completed and attached to the Note, or transfer by
        book-entry transfer, to the Issuer or its agent at the address specified in the notice at least three Business Days prior to the Change of Control Payment Date. Holders shall be entitled to withdraw their election if the Trustee or the Issuer
        receives not later than one Business Day prior to the Change of Control Payment Date, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note that was delivered for purchase by the Holder and a
        statement that such Holder is withdrawing its election to have such Note purchased.

       

      

      (d)          On or prior to the Change of Control Payment Date, the Issuer shall irrevocably deposit with either the Trustee or with the Paying Agent (or, if the Issuer or any
        of its Subsidiaries is acting as the Paying Agent, segregate and hold in trust) in cash an amount equal to the Change of Control Purchase Price payable to the Holders entitled thereto, to be held for payment in accordance with the provisions of
        this Section. On the Change of Control Payment Date, the Issuer shall deliver to the Trustee the Notes or portions thereof that have been properly tendered to and are to be accepted by the Issuer for payment. The Trustee or the Paying Agent shall,
        on the Change of Control Payment Date, mail or, in the case of Global Notes, deliver payment to each tendering Holder of the Change of Control Purchase Price. In the event that the aggregate Change of Control Purchase Price is less than the amount
        delivered by the Issuer to the Trustee or the Paying Agent, the Trustee or the Paying Agent, as the case may be, shall deliver the excess to the Issuer immediately after the Change of Control Payment Date.

       

      

      
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      (e)          The Issuer will not be required to make a Change of Control Offer following a Change of Control if (i) a third party makes the Change of Control Offer in the
        manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Issuer and purchases all Notes validly tendered and not withdrawn under such Change of Control
        Offer or (ii) notice of redemption has been given pursuant to this Indenture to redeem all of the Notes pursuant to Section 3.07, unless and until there is a default in payment of the applicable redemption price. Notwithstanding anything to the
        contrary contained herein, a Change of Control Offer may be made in advance of a Change of Control, conditioned upon the consummation of such Change of Control, if a definitive agreement is in place for the Change of Control at the time the Change
        of Control Offer is made.

        

      

      (f)          The Issuer will comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other securities laws or regulations in
        connection with the repurchase of Notes pursuant to a Change of Control Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Section, the Issuer will comply with the applicable
        securities laws and regulations and will not be deemed to have breached its obligations under this Section 4.12 by virtue thereof.

       

      

      Section 4.13.        Additional Note Guarantees.  If any Domestic Restricted Subsidiary of the Company guarantees or becomes an
        obligor under the Credit Agreement after the Issue Date, such Restricted Subsidiary shall (i) within 30 days execute and deliver a supplemental indenture to this Indenture providing for a Note Guaranty by such Restricted Subsidiary in the form of
        Exhibit B hereto and (ii) deliver to the Trustee an Opinion of Counsel as to due authorization and execution of such Guarantee and the enforceability thereof; provided that this covenant shall not be
        applicable to any Guarantee of any Restricted Subsidiary that existed at the time such Person became a Restricted Subsidiary and was not incurred in connection with, or in contemplation of, such Person becoming a Restricted Subsidiary.  Each Note
        Guaranty shall be released in accordance with the provisions of Section 10.09.

       

      

      Section 4.14.        Additional Amounts

       

        

      (a)          All payments of principal, interest and premium (if any) in respect of the Notes will be made free and clear of, and without deduction or withholding for or on
        account of, any present or future taxes, duties, assessments or other similar governmental charges imposed or levied by a governmental authority in a jurisdiction (a “Relevant Tax Jurisdiction”) in which the
        Issuer or any Guarantor is organized or resident for tax purposes, or from or through which payment is made or deemed made (collectively, “Taxes”), unless such withholding or deduction is required by law.

       

      

      
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      (b)          In the event the Issuer or a Guarantor is required to impose withholding or deduction for Taxes, subject to the limitations described below, the Issuer (or
        Guarantor) will pay such additional amounts (“Additional Amounts”) as may be necessary to ensure that the net amount received by the Beneficial Owner of a Note, after withholding or deduction for such Taxes,
        will be equal to the amount such person would have received in the absence of such withholding or deduction. However, no Additional Amounts shall be payable for or on account of:

       

      

      (i)           any Taxes which would not have been so imposed, withheld or deducted but for:

       

      

      (A)         the existence of any present or former connection between the Holder or Beneficial Owner other than connections arising solely from such Holder
        or Beneficial Owner having executed, delivered, become party to, performed its obligations under or received payments under this Indenture (or between a fiduciary, settlor, beneficiary, member or shareholder or other equity owner of, or a person
        having a power over, such Holder or Beneficial Owner, if such Holder or Beneficial Owner is an estate, a trust, a limited liability company, a partnership, a corporation or other entity) and a Relevant Tax Jurisdiction, including, without
        limitation, such Holder or Beneficial Owner (or such fiduciary, settlor, beneficiary, member, shareholder or other equity owner or person having such a power) being or having been a citizen or resident or treated as a resident of the Relevant Tax
        Jurisdiction, being or having been engaged in a trade or business in the Relevant Tax Jurisdiction, being or having been present in the Relevant Tax Jurisdiction, or having or having had a permanent establishment in the Relevant Tax Jurisdiction;

       

      

      (B)         the failure of the Holder or any other person to comply with certification, identification or information reporting requirements concerning the
        nationality, residence, identity or connection with the Relevant Tax Jurisdiction of the Holder or Beneficial Owner of the Notes, if compliance is required by statute, by regulation of the Relevant Tax Jurisdiction or any taxing authority therein
        or by an applicable income tax treaty to which the Relevant Tax Jurisdiction is a party as a precondition to partial or complete exemption from such tax, assessment or other governmental charge (including, but not limited to, the requirement to
        provide Internal Revenue Service Form W-8BEN, Form W-8BEN-E, Form W-8ECI, Form W-8IMY (and related documentation) or any subsequent versions thereof or successor thereto); or

       

      

      (C)         the Holder’s or Beneficial Owner’s present or former status as a personal holding company with respect to the United States, as a controlled
        foreign corporation with respect to the United States, as a passive foreign investment company with respect to the United States, as a foreign tax exempt organization with respect to the United States or as a corporation that accumulates earnings
        to avoid United States federal income tax;

       

      

      
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      (ii)          any Taxes which would not have been imposed, withheld or deducted but for the failure of the Holder or Beneficial Owner to meet the
        requirements (including the certification requirements) of Section 871(h) or Section 881(c) of the Code;

        

      

      (iii)         any Taxes which would not have been imposed, withheld or deducted but for the presentation by the Holder or Beneficial Owner of such Note for
        payment on a date more than 30 days after the date on which such payment became due and payable or the date on which payment of the Note is duly provided for and notice is given to Holders, whichever occurs later, except to the extent that the
        Holder or Beneficial Owner would have been entitled to such Additional Amounts on presenting such Note on any date during such 30-day period;

       

      

      (iv)         any estate, inheritance, gift, sales, excise, transfer, personal property, wealth or similar Taxes;

        

      

      (v)          any Taxes which are payable otherwise than by withholding or deduction from a payment in respect of such Note;

       

      

      (vi)         any Taxes which are imposed, withheld or deducted with respect to, or payable by, a Holder that is not the Beneficial Owner of the Note, or a
        portion of the Note, or that is a fiduciary, partnership, limited liability company or other similar entity, but, in each case, only to the extent that a Beneficial Owner, a beneficiary or settlor with respect to such fiduciary or member of such
        partnership, limited liability company or similar entity would not have been entitled to the payment of an Additional Amount had such Beneficial Owner, settlor, beneficiary or member received directly its beneficial or distributive share of the
        payment;

       

      

      (vii)        any Taxes required to be withheld or deducted by any Paying Agent from any payment on any Note, if such payment can be made without such
        withholding or deduction by at least one other Paying Agent;

       

      

      (viii)       any Taxes imposed, withheld or deducted under Sections 1471 through 1474 of the Code (or any amended or successor provisions), any current or
        future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into
        in connection with the implementation of such sections of the Code;

       

      

      (ix)         any Taxes that would not have been imposed, withheld, deducted or levied but for a change in any law, treaty, regulation, or administrative or
        judicial interpretation that becomes effective more than 15 days after the applicable payment becomes due or is duly provided for, whichever occurs later;

       

      

      (x)          where such withholding or deduction is imposed pursuant to the Dutch 2021 Withholdings Tax Act (wet bronbelasting 2021); or

       

      

      
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      (xi)         any combination of items (i), (ii), (iii), (iv), (v), (vi), (vii), (viii), (ix) and (x).

       

      

      (c)          For purposes of this Section 4.14, the acquisition, ownership, enforcement, or holding of or the receipt of any payment with respect to the Notes will not
        constitute a connection (1) between the Holder or Beneficial Owner and the Relevant Tax Jurisdiction or (2) between a fiduciary, settlor, beneficiary, member or shareholder or other equity owner of, or a person having a power over, such Holder or
        Beneficial Owner if such Holder or Beneficial Owner is an estate, a trust, a limited liability company, a partnership, a corporation or other entity and the Relevant Tax Jurisdiction.

       

      

      (d)          If the Issuer is required to pay Additional Amounts with respect to the Notes, the Issuer will notify the Trustee and the applicable Paying Agent pursuant to an
        Officer’s Certificate that specifies the Additional Amounts payable with respect to the Notes and when the Additional Amounts are payable. If the Trustee and the applicable Paying Agent do not receive such an Officer’s Certificate from the Issuer,
        the Trustee and the applicable Paying Agent may rely on the absence of such an Officer’s Certificate in assuming that no such Additional Amounts are payable.

       

      

      (e)          All references in this Indenture to the payment of principal, premium or interest, if any, on any Notes or any payment made by the Issuer or the Guarantors shall
        be deemed to include Additional Amounts to the extent that, in that context, Additional Amounts are, were or would be payable.

        

      

      Section 4.15.        Existence.  The Company will take or cause to be taken all reasonable action to preserve and keep in full force
        and effect its existence and the existence of each of the Issuer and each Subsidiary Guarantor in accordance with their respective organizational documents (as the same may be amended from time to time), and the material rights, licenses and
        franchises of the Company, the Issuer and each Subsidiary Guarantor, provided that the Company is not required to preserve any such right, license or franchise, or the existence of any Restricted
        Subsidiary (other than the Issuer), if the maintenance or preservation thereof, in the judgment of the Company, is no longer desirable in the conduct of the business of the Company and its Restricted Subsidiaries taken as a whole; and provided further that this Section does not prohibit any transaction otherwise permitted by Article 4 or Article 5.

       

      

      Section 4.16.        [Reserved].

       

      

      Section 4.17.        [Reserved].

       

      

      Section 4.18.        [Reserved].

        

      

      Section 4.19.        [Reserved].

       

      

      Section 4.20.        Limitation on Accounts Receivables Facilities.  The Company and its Restricted Subsidiaries may sell, transfer or
        otherwise dispose of accounts receivable to a Securitization Subsidiary; provided that (i) the sale, transfer or other disposition is in connection with a Permitted Receivables Financing and (ii) the
        aggregate consideration received in each such sale, transfer or other disposition is at least equal to the fair market value of the receivables sold.

       

      

      
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      ARTICLE 5

      SUCCESSORS

       

      

      Section 5.01.        When Issuer May Merge or Transfer Assets.  The Issuer shall not merge, consolidate or amalgamate with or into any
        other Person or sell, transfer, assign, lease, convey or otherwise dispose of all or substantially all its Property in any one transaction or series of transactions unless:

        

      

      (a)          the Issuer shall be the surviving Person (the “Surviving Person”) or the Surviving Person (if other than the Issuer) formed
        by that merger, consolidation or amalgamation or to which that sale, transfer, assignment, lease, conveyance or disposition is made shall be an entity organized and existing under (i) the laws of the United States of America, any State thereof or
        the District of Columbia, or (ii) the United Kingdom, Jersey and any other jurisdiction in the Channel Islands, any member state of the European Union as in effect on the Issue Date, Switzerland, Bermuda, the Cayman Islands or Singapore;

       

      

      (b)          the Surviving Person (if other than the Issuer) expressly assumes, by supplemental indenture, executed and delivered to the Trustee by that Surviving Person, in
        the case of a Surviving Person formed by the merger, consolidation or amalgamation with the Issuer or to which the sale, transfer, assignment, lease, conveyance or disposition is with respect to all or substantially all of the Property of the
        Issuer, the due and punctual payment of the principal of, and premium, if any, and interest on, all the Notes, according to their tenor, and the due and punctual performance and observance of all the covenants and conditions of this Indenture to be
        performed by the Issuer;

       

      

      (c)          immediately after such transaction, no Default or Event of Default shall have occurred and be continuing; and

       

      

      (d)          unless the Issuer is the Surviving Person, the Issuer shall deliver, or cause to be delivered, to the Trustee, in form and substance reasonably satisfactory to the
        Trustee, an Officer’s Certificate and an Opinion of Counsel, each stating that the transaction and the supplemental indenture, if any, in respect thereto comply with this Section and that all conditions precedent herein provided for relating to the
        transaction have been satisfied.

       

      

      The Surviving Person shall succeed to, and be substituted for, and may exercise every right and power of the Issuer, under this Indenture, including the obligation to pay the principal of, premium, if any, and interest
        on the Notes.

       

      

      Section 5.02.        When Company May Merge or Transfer Assets.  The Company shall not merge, consolidate or amalgamate with or into
        any other Person or sell, transfer, assign, lease, convey or otherwise dispose of all or substantially all its Property in any one transaction or series of transactions unless:

       

      

      
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      (a)          the Company shall be the surviving Person (the “Successor Company”) or the Successor Company (if other than the Company)
        formed by that merger, consolidation or amalgamation or to which that sale, transfer, assignment, lease, conveyance or disposition is made shall be an entity organized and existing under the laws of the United States of America, any State thereof
        or the District of Columbia;

       

      

      (b)          the Successor Company (if other than the Company), expressly assumes, by supplemental indenture executed and delivered to the Trustee by that Successor Company, in
        the case of a Successor Company formed by the merger, consolidation or amalgamation with the Company or to which the sale, transfer, assignment, lease, conveyance or disposition is with respect to all or substantially all of the Property of the
        Company, and all of the obligations of the Guarantor under its Note Guaranty and observance of all the covenants and conditions of this Indenture to be performed by the Company;

       

      

      (c)          immediately after such transaction, no Default or Event of Default shall have occurred and be continuing;

       

      

      (d)          immediately after giving effect to that transaction or series of transactions on a pro forma basis, the Company or the Successor Company (if the Successor Company
        was previously the Company), as the case may be, (i) would be able to Incur at least $1.00 of additional Debt under clause (a) of the first paragraph of Section 4.04 or (ii) the Consolidated Fixed Charges Coverage Ratio of the Company or the
        Successor Company (if the Successor Company was previously the Company), as applicable, would be greater than or equal to such ratio immediately prior to such transaction, provided, however, that this clause (d) shall not be applicable to the
        Company merging, consolidating or amalgamating with or into an Affiliate incorporated solely for the purpose of reincorporating the Company in a State of the United States or changing the name of the Company so long as the amount of Debt of the
        Company and the Restricted Subsidiaries is not increased thereby; and

       

      

      (e)          unless the Company is the Successor Company, the Company shall deliver, or cause to be delivered, to the Trustee, in form and substance reasonably satisfactory to
        the Trustee, an Officer’s Certificate and an Opinion of Counsel, each stating that the transaction and the supplemental indenture, if any, in respect thereto comply with this covenant and that all conditions precedent herein provided for relating
        to the transaction and the execution of a supplemental indenture, as applicable, have been satisfied.

       

      

      The Successor Company shall succeed to, and be substituted for, and may exercise every right and power of the Company, under this Indenture, but the predecessor company in the case of:

       

      

      (a)          a sale, transfer, assignment, conveyance or other disposition (unless that sale, transfer, assignment, conveyance or other disposition is of all the assets of the Company, as an entirety), or

       

      

      (b)          a lease,

        

      

      
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      shall not be released from any obligation to pay the principal of, premium, if any, and interest on, the Notes.

        

      

      Section 5.03.        When Subsidiary Guarantors May Merge or Transfer Assets.  No Subsidiary Guarantor may merge, consolidate or
        amalgamate with or into any other Person; or sell, transfer, assign, lease, convey or otherwise dispose of all or substantially all its Property in any one transaction or series of transactions; or permit any Person to merge, consolidate or
        amalgamate with or into the Subsidiary Guarantor unless:

       

      

      (a)          the other Person is the Issuer, the Company or any Restricted Subsidiary that is a Guarantor or becomes a Guarantor concurrently with the transaction; or

       

      

      (b)          (i) either (x) the Subsidiary Guarantor is the continuing Person or (y) the resulting, surviving or transferee Person expressly assumes by supplemental indenture
        all of the obligations of the Subsidiary Guarantor under its Note Guaranty; and

       

      

      (ii)          immediately after giving effect to the transaction, no Default has occurred and is continuing; or

       

      

      (c)          the transaction constitutes a sale or other disposition (including by way of consolidation or merger) of the Subsidiary Guarantor or the sale or disposition of all
        or substantially all the Property of the Subsidiary Guarantor (in each case other than to the Issuer, the Company or a Restricted Subsidiary) otherwise permitted by this Indenture.

       

      

      Section 5.04.        Application to the Consummation of the Transactions.  Notwithstanding anything to the contrary set forth in this
        Article, the foregoing does not apply to the consummation of the Transactions.

       

      

      ARTICLE 6

      
        DEFAULTS AND REMEDIES

        

      

       

      

      Section 6.01.        Events of Default.  The following events shall be “Events of Default”:

       

      

      (a)          the Issuer fails to make the payment of any interest on any Note when the same becomes due and payable, and that failure continues for a period of 30 days;

       

      

      (b)          the Issuer fails to make the payment of any principal of, or premium, if any, on, any Note when the same becomes due and payable at its Stated Maturity, upon
        acceleration, redemption, optional redemption, required repurchase or otherwise;

       

      

      (c)          [Reserved];

       

      

      (d)          the Issuer, the Company or any Guarantor fails to comply with any other covenant or agreement in the Notes or in this Indenture (other than a failure that is the
        subject of the foregoing clause (a) or (b)) and such failure continues for 60 days after written notice is given to the Issuer as specified below;

       

      

      
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      (e)          a default under any Debt by the Issuer, the Company or any Significant Subsidiary that is a Restricted Subsidiary (other than any Debt owing to the Issuer, the
        Company or any Restricted Subsidiary) that results in acceleration of the maturity of that Debt, or failure to pay any Debt at maturity (after giving effect to any applicable grace periods), in an aggregate amount greater than the greater of (x)
        $70.0 million and (y) 10% of the Company’s aggregate amount of Consolidated EBITDA for the most recent four consecutive fiscal quarters, determined on a pro forma basis, or its foreign currency equivalent at the time;

        

      

      (f)          any judgment or judgments for the payment of money in an aggregate amount in excess of the greater of (x) $70.0 million and (y) 10% of the Company’s aggregate
        amount of Consolidated EBITDA for the most recent four consecutive fiscal quarters determined on a pro forma basis (net of amounts covered by insurance or bonded) that shall be rendered against the Issuer, the Company or any Significant Subsidiary
        that is a Restricted Subsidiary and that shall not be waived, satisfied, annulled, discharged or rescinded for any period of 60 consecutive days during which a stay of enforcement shall not be in effect;

       

      

      (g)          the Issuer, the Company or any Significant Subsidiary that is a Restricted Subsidiary pursuant to or within the meaning of any Bankruptcy Law:

       

      

      (i)           commences a voluntary case;

        

      

      (ii)          consents to the entry of an order for relief against it in an involuntary case;

       

      

      (iii)        consents to the appointment of a custodian of it or for any substantial part of its property; or

       

      

      (iv)         makes a general assignment for the benefit of its creditors;

       

      

      or takes any comparable action under any foreign laws relating to insolvency;

        

      

      (h)          a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

       

      

      (i)           is for relief against the Issuer, the Company or any Significant Subsidiary that is a Restricted Subsidiary in an involuntary case;

       

      

      (ii)          appoints a custodian of the Issuer, the Company or any Significant Subsidiary that is a Restricted Subsidiary or for any substantial part of
        its property;

       

      

      (iii)        orders the winding up or liquidation of the Issuer, the Company or any Significant Subsidiary that is a Restricted Subsidiary; or

       

      

      (iv)         grants any similar relief under any foreign laws relating to insolvency;

       

      

      
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      and in each such case the order or decree remains unstayed and in effect for 90 days; or

       

      

      (i)           except as permitted under this Indenture, any Note Guaranty of the Company or any Significant Subsidiary that is a Guarantor ceases to be in full force and
        effect, other than in accordance with the terms of this Indenture, or the Company or any Significant Subsidiary that is a Guarantor denies or disaffirms its obligations under its Note Guaranty if, and only if, in each such case, such default
        continues for 20 days after written notice is given to the Issuer as provided below.

       

      

      A Default under clause (d) is not an Event of Default until the Trustee acting at the direction of the Holders of not less than 30% in aggregate principal amount of the Notes then outstanding notify the Issuer of the
        Default and the Issuer does not cure that Default within 60 days after receipt of such notice (the “Notice of Default”).  The notice must specify the Default, demand that it be remedied and state that the
        notice is a “Notice of Default.”

       

      

      The Issuer shall deliver to the Trustee, within 30 days after becoming aware thereof, written notice in the form of an Officer’s Certificate of any event that with the giving of notice and the lapse of time would
        become an Event of Default, its status and what action the Issuer is taking or proposes to take with respect thereto.

       

      

      Section 6.02.        Acceleration.  If an Event of Default with respect to the Notes (other than an Event of Default specified in
        Sections 6.01(g) or 6.01(h) with respect to the Issuer or the Company) shall have occurred and be continuing, the Trustee acting at the direction of the registered Holders of not less than 30% in aggregate principal amount of Notes then outstanding
        may, by notice to the Issuer, declare to be immediately due and payable the principal amount of all the Notes then outstanding, plus accrued but unpaid interest and Additional Amounts, if any, to the date of acceleration. Upon such a declaration,
        such principal and interest and Additional Amounts, if any, shall be due and payable immediately.  If an Event of Default specified in Sections 6.01(g) or 6.01(h) with respect to the Issuer or the Company occurs, the principal of and accrued and
        unpaid interest and Additional Amounts, if any, on all the Notes shall be due and payable immediately without any declaration or other act on the part of the Trustee or the Holders of the Notes.  After any such acceleration but before a judgment or
        decree based on acceleration is obtained by the Trustee, the Holders of a majority in aggregate principal amount of the outstanding Notes may, by notice to the Trustee and the Issuer, rescind and annul any declaration of acceleration (i) if the
        rescission would not conflict with any judgment or decree, (ii) if all existing Events of Default have been cured or waived (other than nonpayment of principal, premium, or interest and Additional Amounts, if any, that has become due solely because
        of the acceleration), and (iii) there has been deposited with the Trustee a sum sufficient to pay all sums paid or advanced by the Trustee and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel
        incurred in connection with the rescinded Event of Default. No such rescission shall affect any subsequent Default or impair any right consequent thereto.

       

      

      
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      In the event of a declaration of acceleration of the Notes solely because an Event of Default described in Section 6.01(e) above has occurred and is continuing, the declaration of acceleration of the Notes shall be
        automatically rescinded and annulled if the Event of Default or payment default triggering such Event of Default pursuant to Section 6.01(e) shall be remedied or cured by the Company or a Restricted Subsidiary of the Company (including the Issuer)
        or waived by the Holders of the relevant Debt within 30 Business Days after the declaration of acceleration with respect thereto and if the rescission and annulment of the acceleration of the Notes would not conflict with any judgment or decree of
        a court of competent jurisdiction obtained by the Trustee for the payment of amounts due on the Notes.

       

      

      Any notice of Event of Default, notice of acceleration or instruction to the Trustee to provide a notice of Event of Default, notice of acceleration or to take any other action (a “Noteholder

          Direction”) provided by any one or more Holders (each a “Directing Holder”) must be accompanied by a written representation from each such Holder to the Issuer and the Trustee that such Holder is
        not, or, in the case such Holder is DTC or Euroclear or Clearstream (as applicable, the “Relevant Clearing System”) or the Relevant Clearing System’s nominee, that such Holder is being instructed solely by
        beneficial owners that are not, Net Short (a “Position Representation”), which representation, in the case of a Noteholder Direction relating to a notice of Event of Default shall be deemed repeated at all
        times until the resulting Event of Default is cured or otherwise ceases to exist or the Notes are accelerated. In addition, each Directing Holder must, at the time of providing a Noteholder Direction, provide the Issuer with such other information
        as the Issuer may reasonably request from time to time in order to verify the accuracy of such Directing Holder’s Position Representation within five Business Days of request therefor (a “Verification Covenant”).

        In any case in which the Holder is the Relevant Clearing System or the Relevant Clearing System’s nominee, any Position Representation or Verification Covenant required hereunder shall be provided by the beneficial owner of the Notes in lieu of the
        Relevant Clearing System or the Relevant Clearing System’s nominee.

       

      

      If, following the delivery of a Noteholder Direction, but prior to acceleration of the Notes, the Issuer determines in good faith that there is a reasonable basis to believe a Directing Holder was, at any relevant
        time, in breach of its Position Representation and provides to the Trustee an Officer’s Certificate stating that the Issuer has initiated litigation in a court of competent jurisdiction seeking a determination that such Directing Holder was, at
        such time, in breach of its Position Representation, and seeking to invalidate any Default, Event of Default or acceleration (or notice thereof) that resulted from the applicable Noteholder Direction, the cure period with respect to such Default
        shall be automatically stayed and the cure period with respect to such Default or Event of Default shall be automatically reinstituted and any remedy stayed pending a final and non-appealable determination of a court of competent jurisdiction on
        such matter. If, following the delivery of a Noteholder Direction, but prior to acceleration of the Notes, the Issuer provides to the Trustee an Officer’s Certificate stating that a Directing Holder failed to satisfy its Verification Covenant, the
        cure period with respect to such Default shall be automatically stayed and the cure period with respect to any Default or Event of Default that resulted from the applicable Noteholder Direction shall be automatically reinstituted and any remedy
        stayed pending satisfaction of such Verification Covenant. Any breach of the Position Representation shall result in such Holder’s participation in such Noteholder Direction being disregarded, and, if, without the participation of such Holder, the
        percentage of Notes held by the remaining Holders that provided such Noteholder Direction would have been insufficient to validly provide such Noteholder Direction, such Noteholder Direction shall be void ab initio (other than any indemnity such
        Directing Holder may have offered the Trustee), with the effect that such Default or Event of Default shall be deemed never to have occurred, acceleration voided and the Trustee shall be deemed not to have received such Noteholder Direction or any
        notice of such Default or Event of Default.

       

      

      
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      Section 6.03.        Other Remedies.  If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to
        collect the payment of principal of, or premium, if any, interest or Additional Amounts, if any, on, the Notes or to enforce the performance of any provision of the Notes or this Indenture.

       

      

      The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding.

       

      

      Section 6.04.        Waiver of Past Defaults.  The Holders of a majority in aggregate principal amount of the Notes then outstanding
        (including consents obtained in connection with a purchase of, or tender offer or exchange offer for, the Notes) by notice to the Trustee may waive an existing Default and its consequences except (i) a Default in the payment of the principal of or
        interest or Additional Amounts, if any, on a Note or (ii) a Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Noteholder adversely affected. When a Default is waived, it is deemed cured, but no
        such waiver shall extend to any subsequent or other Default or impair any consequent right. If a Default is deemed to occur solely as a consequence of the existence of another Default (the “Initial Default”),
        then, at the time such Initial Default is cured (including the payment of default interest, if any), the Default that resulted solely because that Initial Default will also be cured without any further action.  Any Default or Event of Default for
        the failure to comply with the time periods prescribed in Section 4.03 or otherwise to deliver any notice or certificate pursuant to any other provision of this Indenture shall be deemed to be cured upon the delivery of any such report required by
        such covenant or such notice or certificate, as applicable, even though such delivery is not within the prescribed period specified in this Indenture. Any time period in this Indenture to cure any actual or alleged Default or Event of Default may
        be extended or stayed by a court of competent jurisdiction.

       

      

      Section 6.05.        Control by Majority.  The Holders of a majority in aggregate principal amount of the Notes then outstanding may
        direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee with respect to the Notes. However, the Trustee may refuse to follow any direction
        that conflicts with law or this Indenture or that the Trustee determines is unduly prejudicial to the rights of other Noteholders or would involve the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. Subject to Section 7.01, in case an Event of Default shall occur and be continuing,
        the Trustee shall be under no obligation to exercise any of its rights or powers hereunder at the request or direction of any of the Holders, unless the Holders shall have offered to the Trustee indemnity satisfactory to it.

       

      

      
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      Section 6.06.        Limitation on Suits.  A Noteholder may not institute any proceeding with respect to this Indenture or the Notes,
        or for the appointment of a receiver or trustee or pursue any remedy with respect to this Indenture or the Notes, unless:

        

      

      (a)          such Holder shall have previously given to the Trustee written notice of a continuing Event of Default;

       

      

      (b)          the Holders of at least 30% in aggregate principal amount of the Notes then outstanding shall have made a written request, and such Holder or Holders shall have
        offered reasonable security or indemnity, to the Trustee to institute such proceeding as trustee; and

       

      

      (c)          the Trustee has not received from the Holders of a majority in aggregate principal amount of the Notes outstanding a direction inconsistent with such request and
        has failed to institute such proceeding within 60 days after such notice.

       

      

      Section 6.07.        Rights of Holders to Receive Payment.  Notwithstanding any other provision of this Indenture, the right of any
        Holder to receive payment of principal of, and interest and Additional Amounts, if any, on, the Notes held by such Holder, on or after the respective due dates expressed in the Notes, or to bring suit for the enforcement of any such payment on or
        after such respective dates, shall not be impaired or affected without the consent of such Holder. A Noteholder may not use this Indenture to prejudice the rights of another Noteholder or to obtain a preference or priority over another Noteholder
        (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders).

       

      

      Section 6.08.        Collection Suit by Trustee.  If an Event of Default specified in Section 6.01(a) or 6.01(b) occurs and is
        continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuer for the whole amount then due and owing (together with interest on any unpaid interest to the extent lawful) and the amounts provided
        for in this Indenture.

        

      

      Section 6.09.        Trustee May File Proofs of Claim.  The Trustee may file such proofs of claim and other papers or documents as may
        be necessary or advisable in order to have the claims of the Trustee and the Noteholders allowed in any judicial proceedings relative to the Issuer, its creditors or its property and, unless prohibited by law or applicable regulations, may vote on
        behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any custodian in any such judicial proceeding is hereby authorized by each Holder to make 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 such compensation as agreed upon in writing by the parties hereto, expenses, disbursements and advances of the
        Trustee, its agents and its counsel, and any other amounts due the Trustee under this Indenture, or in connection with the transactions contemplated hereunder.

       

      

      
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      Section 6.10.        Priorities.  If the Trustee collects any money or property pursuant to this Article 6, it shall pay out the money
        or property in the following order:

       

      

      FIRST: to the Trustee for all amounts due under this Indenture;

       

      

      SECOND: to Noteholders for amounts due and unpaid on the Notes for principal and interest and Additional Amounts, if any, ratably, without preference or priority of any kind, according to the amounts due and payable on
        the Notes for principal and interest and Additional Amounts, if any, respectively; and

       

      

      THIRD: to the Issuer.

        

      

      The Trustee may fix a record date and payment date for any payment to Noteholders pursuant to this Section. At least 15 days before such record date, the Issuer shall mail to each Noteholder and the Trustee a notice
        that states the record date, the payment date and amount to be paid.

       

      

      Section 6.11.        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 or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess
        reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit (other than the Trustee), having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section
        does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07 or a suit by Holders of more than 10% in aggregate principal amount of the Notes.

       

      

      Section 6.12.        Waiver of Stay or Extension Laws.  The Issuer (to the extent it may lawfully do so) shall not at any time insist
        upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the
        Issuer (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the
        execution of every such power as though no such law had been enacted.

       

      

      Section 6.13.        Restoration of Rights and Remedies.  If the Trustee or any Holder has instituted a proceeding to enforce any
        right or remedy under this Indenture and the proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to the Holder, then, subject to any determination in the proceeding, the Issuer, the
        Guarantors, the Trustee and the Holders will be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Issuer, the Guarantors, the Trustee and the Holders will continue as though no
        such proceeding had been instituted.

       

      

      
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      Section 6.14.        Rights and Remedies Cumulative.  No right or remedy conferred or reserved to the Trustee or to the Holders under
        this Indenture is intended to be exclusive of any other right or remedy, and all such rights and remedies are, to the extent permitted by law, cumulative and in addition to every other right and remedy hereunder or now or hereafter existing at law
        or in equity or otherwise. The assertion or exercise of any right or remedy hereunder, or otherwise, will not prevent the concurrent assertion or exercise of any other right or remedy.

       

      

      Section 6.15.        Delay or Omission Not Waiver.  No delay or omission of the Trustee or of any Holder to exercise any right or
        remedy accruing upon any Event of Default will 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.

       

      

      ARTICLE 7

      TRUSTEE

       

      

      Section 7.01.        Duties of Trustee. (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the
        rights and powers vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs.

       

      

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

       

      

      (i)           the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no implied duties,
        covenants or obligations shall be read into this Indenture against the Trustee, where duties and obligations shall be determined solely by the express provisions of this Indenture; and

       

      

      (ii)          in the absence of willful misconduct 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, the Trustee shall examine the certificates and opinions to determine whether or not they conform
        to the requirements of this Indenture but need not confirm or investigate the accuracy of any mathematical calculations or other facts stated therein.

       

      

      (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:

       

      

      (i)           this paragraph does not limit the effect of paragraph (b) of this Section;

       

      

      
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      (ii)          the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer unless it is proved that the Trustee was
        negligent in ascertaining the pertinent facts; and

       

      

      (iii)         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 from Holders pursuant to the terms of this Indenture.

       

      

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

       

      

      (e)          The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuer.

       

      

      (f)          Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

       

      

      (g)          No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its
        duties hereunder or in the exercise of any of its rights or powers.

       

      

      (h)          Every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions
        of this Section, and the provisions of this Article 7 shall apply to the Trustee in its role as Registrar, Paying Agent and Notes Custodian.

       

      

      (i)           The Trustee shall not be deemed to have notice of a Default or an Event of Default unless a Trust Officer of the Trustee has received written notice thereof (in
        accordance with the notice provisions of this Indenture) from the Issuer or any Holder and such notice references the Notes and this Indenture.

       

      

      Section 7.02.        Rights of Trustee. (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 the document. The Trustee may, however, in its discretion 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 Issuer, personally or by agent or
        attorney at the expense of the Issuer and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation.

       

      

      (b)          Before the Trustee acts or refrains from acting, it shall be entitled to receive an Officer’s Certificate and 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 Officer’s Certificate or Opinion of Counsel.

       

      

      
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      (c)          The Trustee may act through agents and/or attorneys and shall not be responsible for the misconduct or negligence of any agent or attorney appointed with due care.

        

      

      (d)          The Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within its rights or powers; provided, however, that the Trustee’s conduct does not constitute willful misconduct or negligence.

       

      

      (e)          The Trustee may consult with counsel of its selection, and the advice or opinion of counsel with respect to legal matters relating to this Indenture and the Notes
        shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel.

       

      

      (f)          The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as a duty unless so specified herein.

       

      

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

       

      

      (h)          The Trustee may employ or retain accountants, appraisers or other experts or advisers as it may reasonably require for the purpose of determining and discharging
        its rights and duties hereunder and shall not be responsible for any misconduct on the part of any of them selected with due care.

        

      

      (i)           In no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not
        limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action.

       

      

      (j)           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.

       

      

      (k)          The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder.

       

      

      (l)           The Trustee may request that the Issuer deliver a certificate setting forth the names of individuals and/or titles of officers authorized at such time to take
        specified actions pursuant to this Indenture.

       

      

      (m)         Delivery of any reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute
        constructive or actual notice or knowledge of any information contained therein or determinable from information contained therein, including the Issuer’s compliance with any of its covenants hereunder (as to which the Trustee may conclusively rely
        on a certificate of an authorized Officer of the Issuer).

        

      

      
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      (n)          The Trustee shall have no duty or responsibility to monitor the Issuer’s and the Company’s compliance with the covenants included in Article 4 or the transfer
        restrictions on the Notes.

       

      

      The provisions of this Section 7.02 shall survive satisfaction and discharge or the termination, for any reason, of this Indenture and the resignation and/or removal of the Trustee.

       

      

      Section 7.03.        Individual Rights of Trustee.  The Trustee in its individual or any other capacity may become the owner or
        pledgee of Notes and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent, Registrar or co-registrar may do the same with like rights.

       

      

      Section 7.04.        Trustee’s Disclaimer.  The Trustee shall not be responsible for and makes no representation as to the validity,
        priority or adequacy of this Indenture or the Notes, it shall not be accountable for the Issuer’s use of the proceeds from the Notes, and it shall not be responsible for any statement of the Issuer in this Indenture or in any other document other
        than the certificate of authentication executed by the Trustee.

       

      

      Section 7.05.        Notice of Defaults.  If a Default or Event of Default occurs and is continuing of which the Trustee has received
        written notice, the Trustee shall deliver to each Noteholder notice of the Default or Event of Default within 90 days after written notice of it is received by a Trust Officer of the Trustee. Except in the case of a Default or Event of Default in
        payment of principal of, or interest and Additional Amounts, if any, on any Note, the Trustee may withhold the notice if and so long as a committee of its Trust Officers in good faith determines that withholding the notice is in the interests of
        Noteholders.

       

      

      

      Section 7.06.        [Reserved].

       

      

      
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      Section 7.07.        Compensation and Indemnity.  The Issuer shall pay to the Trustee from time to time such reasonable compensation
        for its services as agreed upon in writing by the parties hereto. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall reimburse the Trustee upon request for all reasonable,
        documented out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and reasonable, documented out-of-pocket expenses,
        disbursements and advances of the Trustee’s agents, counsel, accountants and experts. The Issuer shall indemnify the Trustee against any and all loss, liability, claim, damage, penalty, action, suit, cost and expense (including reasonable
        attorneys’ fees and out-of-pocket expenses and taxes (other than taxes based upon, measured by or determined by the income of the Trustee)) incurred by it in connection with the acceptance or administration of the trust hereunder and/or the
        transactions contemplated under this Indenture and the Trustee shall have no liability or responsibility for any action or inaction on the part of any Paying Agent, Registrar, Authentication Agent or any successor trustee. The Trustee shall notify
        the Issuer promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Issuer shall not relieve the Issuer of its obligations hereunder except to the extent that the Issuer shall have been actually prejudiced as a
        result of such failure. The Issuer shall defend the claim and the Trustee shall provide reasonable cooperation at the Issuer’s expense in the defense. The Trustee may have separate counsel and the Issuer shall pay the fees and expenses of such
        counsel; provided, however, that the Issuer shall not be required to pay such fees and expenses if it assumes the Trustee’s defense and, in the Trustee’s reasonable
        judgment, there is no actual or potential conflict of interest between the Issuer and the Trustee in connection with such defense. The Issuer need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee
        through the Trustee’s own willful misconduct or negligence. The Issuer need not pay for any settlement made by the Trustee without the Issuer’s consent, such consent not to be unreasonably withheld. All indemnifications and releases from liability
        granted hereunder to the Trustee shall extend to its officers, directors, employees, agents, successors and assigns.

       

      

      To secure the Issuer’s payment obligations in this Section, the Trustee shall have a lien prior to the Notes on all money or property held or collected by the Trustee other than money or property held in trust to pay
        principal of, interest and Additional Amounts, if any, on particular Notes.

       

      

      The Issuer’s payment obligations pursuant to this Section shall survive the resignation or removal of the Trustee and the discharge of this Indenture. When the Trustee incurs expenses after the occurrence of a Default
        specified in Sections 6.01(g) or 6.01(h) with respect to the Issuer, the expenses are intended to constitute expenses of administration under the Bankruptcy Law.

       

      

      The provisions of this Section 7.07 shall survive the satisfaction and discharge or termination, for any reason, of this Indenture and the resignation or removal of the Trustee.

       

      

      Section 7.08.        Replacement of Trustee.  The Trustee may resign at any time by providing 30 days’ prior written notice to the
        Issuer. The Holders of a majority in aggregate principal amount of the Notes then outstanding may remove the Trustee by providing 30 days’ prior written notice to the Trustee and may appoint a successor Trustee. The Issuer may remove the Trustee by
        providing 30 days’ prior written notice if:

       

      

      (a)          the Trustee is adjudged bankrupt or insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;

       

      

      (b)          a receiver or other public officer takes charge of the Trustee or its property;

       

      

      (c)          the Trustee otherwise becomes incapable of acting; or

       

      

      
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      (d)          there is no Event of Default continuing and no event that upon notice or lapse of time or both, would become an Event of Default.

       

      

      If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in aggregate principal amount of the Notes then outstanding and such Holders do not reasonably promptly appoint a successor Trustee, or
        if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a successor Trustee.

       

      

      A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon 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. The successor Trustee shall mail a notice of its succession to Noteholders. The retiring Trustee shall promptly transfer all property held by it as
        Trustee to the successor Trustee, subject to the lien provided for in Section 7.07.

       

      

      If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, at the reasonable expense of the Issuer, or the Holders of 10% in aggregate principal
        amount of the Notes then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee.

       

      

      Notwithstanding the replacement or resignation of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the Trustee and survive the termination of this
        Indenture.

       

      

      Section 7.09.        Successor Trustee by Merger.  If the Trustee consolidates with, merges or converts into, or transfers all or
        substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation or banking association without any further act shall be the successor Trustee.

       

      

      ARTICLE 8

      
        DISCHARGE OF INDENTURE; DEFEASANCE

        

         

        

      

      Section 8.01.        Satisfaction and Discharge.  This Indenture will be discharged and will cease to be of further effect as to all
        Notes, when:

       

      

      (a)          either: (A) all Notes theretofore authenticated and delivered (except lost, stolen or destroyed Notes which have been replaced or paid and Notes for whose payment
        money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from such trust) 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, (ii) will become due and payable within one year or are to be called for redemption within one year or (iii) if redeemable at the option of the Issuer, are to be
        called for redemption within one year (a “Discharge”) under arrangements reasonably satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the
        Issuer, and the Issuer or any guarantor has irrevocably deposited or caused to be deposited with the Trustee funds in euro, Euro Government Obligations or a combination thereof in an amount sufficient to pay and discharge the entire Debt on the
        Notes, not theretofore delivered to the Trustee for cancellation, for principal of, premium, if any, interest and Additional Amounts, if any, to the Stated Maturity or Redemption Date; provided that upon
        any redemption that requires the payment of the Applicable Premium, the amount deposited shall be sufficient for purposes of this Indenture to the extent that an amount is deposited with the Trustee equal to the Applicable Premium calculated as of
        the date of the notice of redemption, with any deficit as of the date of the redemption only required to be deposited with the Trustee on or prior to the date of the redemption;

       

      

      
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      (b)          the Issuer has paid or caused to be paid all other sums then due and payable under this Indenture by the Issuer;

       

      

      (c)          the Issuer has delivered irrevocable instructions to the Trustee to apply the deposited money toward the payment of the Notes at maturity or on the Redemption
        Date, as the case may be; and

       

      

      (d)          the Issuer has delivered to the Trustee an Officer’s Certificate and Opinion of Counsel, each to the effect that all conditions precedent under this Indenture
        relating to the Discharge have been complied with.

       

      

      The Trustee shall acknowledge satisfaction and discharge of this Indenture on written demand of the Issuer accompanied by an Officer’s Certificate and an Opinion of Counsel at the cost and expense of the Issuer.

       

      

      Section 8.02.        Discharge on Liability of Notes; Defeasance.

       

      

      (a)          Subject to Sections 8.02(b) and 8.03, the Issuer at any time may terminate (i) all of its obligations under the Notes and this Indenture (“legal defeasance option”) or (ii) its obligations under Sections 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, and 4.20 and the operation of Sections 6.01(d) (with respect to the covenants of
        Article 4 identified in this clause (a)), 6.01(e), 6.01(f), 6.01(g), 6.01(h) and 6.01(i) (but, in the case of Sections 6.01(g) and 6.01(h), with respect only to Significant Subsidiaries) and the limitations contained in clause (d) of Section 5.02
        (“covenant defeasance option”). The Issuer may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option.

        

      

      If the Issuer exercises its legal defeasance option, payment of the Notes may not be accelerated because of an Event of Default. If the Issuer exercises its covenant defeasance option, payment of the Notes may not be
        accelerated because of an Event of Default specified in Sections 6.01(d) (with respect to the covenants of Article 4 identified in the immediately preceding paragraph), 6.01(e), 6.01(f), 6.01(g), 6.01(h) and 6.01(i) (but, in the case of Sections
        6.01(g) and 6.01(h), with respect only to Significant Subsidiaries) or because of the failure of the Company to comply with the limitations contained in clause (d) of Section 5.02.

       

      

      
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      Upon satisfaction of the conditions set forth herein and upon request of the Issuer, accompanied by an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent specified herein
        relating to the defeasance contemplated have been complied with, the Trustee shall acknowledge in writing the discharge of those obligations that the Issuer terminates.

       

      

      (b)          Notwithstanding Section 8.01 or clause (a) of this Section 8.02 above, the Issuer’s obligations in Sections 2.04, 2.05, 2.06, 2.07, 7.07, 7.08, 8.06 and 8.07 shall
        survive until the Notes have been paid in full. Thereafter, the Issuer’s obligations in Sections 7.07 and 8.06 shall survive such satisfaction or discharge.

        

      

      Section 8.03.        Conditions to Defeasance.  The Issuer may exercise its legal defeasance option or its covenant defeasance option
        only if:

       

      

      (a)          the Issuer irrevocably deposits in trust with the Trustee money in euro, Euro Government Obligations or a combination thereof for the payment of principal
        (including premium, if any) of, and interest and Additional Amounts, if any, on the Notes to maturity or a Redemption Date permitted under this Indenture;

       

      

      (b)          the Issuer delivers to the Trustee a certificate from a U.S. nationally recognized accounting firm expressing their opinion that the payment of principal
        (including premium, if any) of, and interest and Additional Amounts, if any, when due and without reinvestment on the deposited Euro Government Obligations plus any deposited money without investment will provide cash at such times and in such
        amounts as will be sufficient to pay principal (including premium, if any), and interest and Additional Amounts, if any, when due on all the Notes to maturity or redemption, as the case may be;

       

      

      (c)          no Default or Event of Default has occurred and is continuing on the date of the deposit and after giving effect thereto;

       

      

      (d)          the deposit does not constitute a default under any other material agreement or instrument binding on the Issuer or the Company;

       

      

      (e)          in the case of the legal defeasance option, the Issuer shall have delivered to the Trustee an Opinion of Counsel stating that:

       

      

      (i)           the Issuer has received from the U.S. Internal Revenue Service a ruling, or

        

      

      (ii)          since the date of this Indenture there has been a change in the applicable U.S. federal income tax law,

       

      

      in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Noteholders will not recognize income, gain or loss for U.S. federal income tax purposes as a
        result of such defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such defeasance had not occurred;

       

      

      
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      (f)           in the case of the covenant defeasance option, the Issuer shall have delivered to the Trustee an Opinion of Counsel to the effect that the Noteholders will not
        recognize income, gain or loss for U.S. federal income tax purposes as a result of such covenant defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if
        such covenant defeasance had not occurred; and

       

      

      (g)          the Issuer delivers to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge
        of this Indenture and the Notes as contemplated by this Article 8 have been complied with.

       

      

      Simultaneous with a deposit, the Issuer may make arrangements satisfactory to the Trustee for the redemption of Notes at a future date in accordance with Article 3.

       

      

      Section 8.04.        Application of Trust Money.  The Trustee shall hold in trust money in euros, Euro Government Obligations or a
        combination thereof deposited with it pursuant to this Article 8. It shall apply the deposited money in euros, Euro Government Obligations or a combination thereof through the Paying Agent and in accordance with this Indenture to the payment of
        principal of and interest, and Additional Amounts, if any, on the Notes.

       

      

      Section 8.05.        Repayment to Issuer.  The Trustee and the Paying Agent shall promptly turn over to the Issuer upon written
        request any excess money or securities held by them upon satisfaction of the conditions and occurrence of the events set forth in this Article 8.

       

      

      Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Issuer upon request any money held by them for the payment of principal or interest and Additional Amounts, if any,
        that remains unclaimed for two years, and, thereafter, Noteholders entitled to the money must look to the Issuer for payment as general creditors.

       

      

      Section 8.06.        Indemnity for Euro Government Obligations.  The Issuer shall pay and shall indemnify the Trustee against any tax,
        fee or other charge imposed on or assessed against deposited Euro Government Obligations or the principal and interest received on such Euro Government Obligations.

       

      

      Section 8.07.        Reinstatement.  If the Trustee or Paying Agent is unable to apply any money in euros, Euro Government Obligations
        or a combination thereof in accordance with this Article 8 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer’s
        obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to this Article 8 until such time as the Trustee or Paying Agent is permitted to apply all such money or Euro Government
        Obligations in accordance with this Article 8; provided, however, that, if the Issuer has made any payment of interest on or principal of any Notes because of the
        reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Euro Government Obligations held by the Trustee or Paying Agent.

       

      

      
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    ARTICLE 9

    Amendments

     

    Section 9.01.        Without Consent of Holders.  The Issuer and the Trustee may amend this Indenture or the Notes without notice to or consent of any Noteholder to:

     

    (a)          cure any ambiguity, omission,
        defect, mistake or inconsistency;

     

    (b)          provide for the assumption by a
        successor of the obligations of the Issuer or any Guarantor under this Indenture,

     

    (c)          provide for uncertificated Notes in
        addition to or in place of certificated Notes; provided, however,
        that the uncertificated Notes are issued in definitive, fully registered form for purposes of Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B) of the Code;

     

    (d)          add Guarantees with respect to the
        Notes or release Guarantors from their Note Guarantees as provided by the terms of this Indenture or the Note Guarantees;

     

    (e)          secure the Notes (and, thereafter,
        provide releases of collateral in accordance with the security documents entered into in connection therewith), to add to the covenants of the Issuer or any Guarantor for the benefit of the Holders or to surrender any right or power herein
        conferred upon the Issuer or any Guarantor;

     

    (f)          make any change that would provide
        any additional rights or benefits to the Holders of Notes or make any change that does not materially adversely affect the rights of any Noteholder (as determined in good faith by the Issuer or the Company on behalf of the Issuer);

     

    (g)          comply with any requirements of the
        SEC in connection with qualifying, or maintaining the qualification of, this Indenture under the TIA (it being agreed that this Indenture need not be qualified under the TIA);

     

    (h)          provide for the issuance of
        Additional Notes in accordance with this Indenture;

     

    (i)          provide for the issuance of
        exchange Notes that shall have terms substantially identical in all respects to the Notes (as determined in good faith by the Issuer or the Company on behalf of the Issuer and except that the transfer restrictions contained in the Notes shall be
        modified or eliminated as appropriate) and which shall be treated, together with any outstanding Notes, as a single class of securities;

     

    
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    (j)           provide for the appointment of a
        successor trustee; provided that the successor trustee is otherwise qualified and eligible to act as such under the terms of this Indenture;

     

    (k)          conform any provision of this
        Indenture to the “Description of Notes” contained in the Offering Memorandum; or

     

    (l)           comply with the procedures of
        Euroclear, Clearstream or the Trustee with respect to the provisions in this Indenture and the Notes relating to transfers and exchanges of Notes or beneficial interests in Notes.

     

    After an amendment becomes effective, the Issuer is required to deliver to each registered Holder of the Notes at the Holder’s address appearing in the
      security register a notice briefly describing the amendment. However, the failure to give this notice to all Holders of the Notes, or any defect therein, will not impair or affect the validity of the amendment. In connection with any modification,
      amendment or supplement, the Issuer will deliver to the Trustee an Opinion of Counsel and an Officer’s Certificate upon which the Trustee may conclusively rely, each stating that such modification, amendment or supplement complies with the applicable
      provisions of this Indenture.

     

    Section 9.02.        With Consent of Holders.  The Issuer and the Trustee may amend this Indenture or the Notes without notice to any Noteholder but with the written consent of the Holders of at least
        a majority in aggregate principal amount of the Notes then outstanding (including consents obtained in connection with a purchase of, or tender offer or exchange offer for, the Notes). However, without the consent of each Noteholder adversely
        affected thereby, an amendment may not:

     

    (a)          reduce the amount of Notes whose
        Holders must consent to an amendment or waiver;

     

    (b)          reduce the rate of or extend the
        time for payment of interest on any Note;

     

    (c)          reduce the principal of or extend
        the Stated Maturity of any Note;

     

    (d)          make any Note payable in money
        other than that stated therein;

     

    (e)          make any change to the contractual
        right of any Holder of the Notes expressly set forth in this Indenture or the Notes to receive payment of principal of and interest on that Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on
        or with respect to that Holder’s Notes;

     

    (f)          expressly subordinate in right of
        payment the Notes to any other obligation of the Issuer or any Guarantor, except as otherwise permitted under this Indenture or the Notes;

     

    (g)          reduce the premium payable upon the
        redemption of any Note or change the time at which any Note may be redeemed, as set forth in Section 3.07 or as set forth in the Notes; or

     

    
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    (h)          release any Significant Subsidiary
        that is a Guarantor from any of its obligations under its Note Guaranty or this Indenture, except in accordance with the terms of this Indenture.

     

    The consent of the Holders of the Notes is not necessary to approve the particular form of any proposed amendment. It is sufficient if such consent
      approves the substance of the proposed amendment. After an amendment becomes effective, the Issuer is required to deliver to each registered Holder of the Notes at the Holder’s address appearing in the security register a notice briefly describing
      the amendment. However, the failure to give this notice to all Holders of the Notes, or any defect therein, will not impair or affect the validity of the amendment. In connection with any modification, amendment or supplement, the Issuer will deliver
      to the Trustee an Opinion of Counsel and an Officer’s Certificate upon which the Trustee may conclusively rely, each stating that such modification, amendment or supplement complies with the applicable provisions of this Indenture.

     

    Section 9.03.        [Reserved].

     

    Section 9.04.        Revocation and Effect of Consents and Waivers.  A consent to an amendment or a waiver by a Holder of a Note shall bind the Holder and every subsequent Holder of that Note or
        portion of the Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent or waiver is not made on the Note. However, any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder’s
        Note or portion of the Note if the Trustee receives the notice of revocation before the date the amendment or waiver becomes effective. After an amendment or waiver becomes effective, it shall bind every Noteholder. An amendment or waiver becomes
        effective upon the execution of such amendment or waiver by the Trustee.

     

    The Issuer may, but shall not be obligated to, fix a record date for the purpose of determining the Noteholders entitled to give their consent or take
      any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Noteholders at such record date (or their
      duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record date. No such consent
      shall be valid or effective for more than 120 days after such record date.

     

    Section 9.05.          Notation on or Exchange of Notes.  If an amendment changes the terms of a Note, the Trustee may require the Holder of the Note to deliver such Note to the Trustee. The Trustee may
        place an appropriate notation on the Note regarding the changed terms and return such Note to the Holder. Alternatively, if the Issuer or the Trustee so determines, the Issuer in exchange for the Note shall issue and the Trustee shall authenticate
        a new Note that reflects the changed terms. Failure to make the appropriate notation or to issue a new Note shall not affect the validity of such amendment.

     

    
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    Section 9.06.        Trustee to Sign Amendments.  The Trustee shall sign any amendment authorized pursuant to this Article 9 if the amendment does not adversely affect the rights, duties, liabilities
        or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment the Trustee shall receive indemnity reasonably satisfactory to it and shall receive, and (subject to Section 7.01) shall be fully protected in
        conclusively relying upon, in addition to the documents required by Section 11.04, an Officer’s Certificate and an Opinion of Counsel each stating that such amendment is authorized or permitted by this Indenture and is the legal, valid and binding
        obligation of the Issuer, enforceable in accordance with its terms.

     

    ARTICLE 10

    Guarantees

     

    Section 10.01.      The Guarantees.  Subject to the provisions of this Article, each Guarantor party hereto or that executes a supplemental indenture in the form of Exhibit B hereby irrevocably and
        unconditionally guarantees, jointly and severally, on an unsecured basis, the full and punctual payment (whether at Stated Maturity, upon redemption, purchase pursuant to an offer to purchase required under Section 4.07 or Section 4.12 or
        acceleration, or otherwise) of the principal of, premium, if any, and interest and Additional Amounts, if any, on, and all other amounts payable under, each Note, and the full and punctual payment of all other amounts payable by the Issuer under
        this Indenture (including the Issuer’s obligations under Section 7.07 hereof). Upon failure by the Issuer to pay punctually any such amount, each Guarantor shall forthwith on demand pay the amount not so paid at the place and in the manner
        specified in this Indenture.  Any Note Guaranty constitutes a guaranty of payment and not of collection.

     

    Section 10.02.      Guaranty Unconditional.  The obligations of each Guarantor hereunder are unconditional and absolute and, without limiting the generality of the foregoing, will not be released,
        discharged or otherwise affected by:

     

    (a)      any extension, renewal, settlement,
        compromise, waiver or release in respect of any obligation of the Issuer under this Indenture or any Note, by operation of law or otherwise;

     

    (b)     any modification or amendment of or
        supplement to this Indenture or any Note;

     

    (c)      any change in the corporate
        existence, structure or ownership of the Issuer, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting the Issuer or its assets or any resulting release or discharge of any obligation of the Issuer contained in this
        Indenture or any Note;

     

    (d)     the existence of any claim, set-off
        or other rights which the Guarantor may have at any time against the Issuer, the Trustee or any other Person, whether in connection with this Indenture or any unrelated transactions, provided that nothing herein prevents the assertion of any such claim by separate suit or compulsory counterclaim;

     

    
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    (e)      any invalidity or unenforceability
        relating to or against the Issuer for any reason of this Indenture or any Note, or any provision of applicable law or regulation purporting to prohibit the payment by the Issuer of the principal of or interest and Additional Amounts, if any, on any
        Note or any other amount payable by the Issuer under this Indenture; or

     

    (f)      any other act or omission to act or
        delay of any kind by the Issuer, the Trustee or any other Person or any other circumstance whatsoever which might, but for the provisions of this Section, constitute a legal or equitable discharge of or defense to such Guarantor’s obligations
        hereunder.

     

    Section 10.03.      Discharge; Reinstatement.  Each Guarantor’s obligations hereunder will remain in full force and effect until the principal of, premium, if any, and interest and Additional Amounts,
        if any, on the Notes and all other amounts payable by the Issuer under this Indenture have been paid in full. If at any time any payment of the principal of, premium, if any, or interest and Additional Amounts, if any, on any Note or any other
        amount payable by the Issuer under this Indenture is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Issuer or otherwise, each Guarantor’s obligations hereunder with respect to such
        payment will be reinstated as though such payment had been due but not made at such time.

     

    Section 10.04.      Waiver by the Guarantors.  Each Guarantor irrevocably waives acceptance hereof, presentment, demand, protest and any notice not provided for herein, as well as any requirement that
        at any time any action be taken by any Person against the Issuer or any other Person.

     

    Section 10.05.      Subrogation and Contribution.  Upon making any payment with respect to any obligation of the Issuer under this Article, the Guarantor making such payment will be subrogated to the
        rights of the payee against the Issuer with respect to such obligation, provided that the Guarantor may not enforce either any right of subrogation, or any
        right to receive payment in the nature of contribution, or otherwise, from any other Guarantor, with respect to such payment so long as any amount payable by the Issuer hereunder or under the Notes remains unpaid.

     

    Section 10.06.      Stay of Acceleration.  If acceleration of the time for payment of any amount payable by the Issuer under this Indenture or the Notes is stayed upon the insolvency, bankruptcy or
        reorganization of the Issuer, all such amounts otherwise subject to acceleration under the terms of this Indenture are nonetheless payable by the Guarantors hereunder forthwith on demand by the Trustee or the Holders.

     

    Section 10.07.      Limitation on Amount of Guaranty.  Notwithstanding anything to the contrary in this Article, each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is
        the intention of all such parties that the Note Guaranty of such Guarantor not constitute a fraudulent conveyance under applicable fraudulent conveyance provisions of the Bankruptcy Law or any comparable provision of state law. To effectuate that
        intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of each Guarantor under its Note Guaranty are limited to the maximum amount that would not render the Guarantor’s obligations subject to avoidance
        under applicable fraudulent conveyance provisions of the Bankruptcy Law or any comparable provision of state law.

     

    
      105

      
        

    

    Section 10.08.      Execution and Delivery of Guaranty.  The execution by each Guarantor of this Indenture (or a supplemental indenture in the form of Exhibit B) evidences the Note Guaranty of such
        Guarantor, whether or not the person signing as an officer of the Guarantor still holds that office at the time of authentication of any Note. The delivery of any Note by the Trustee after authentication constitutes due delivery of the Note
        Guaranty set forth in this Indenture on behalf of each Guarantor.

     

    Section 10.09.      Release of Guaranty.

     

    (a)          The Note Guaranty of a Subsidiary
        Guarantor will terminate, and the Note Guaranty will be automatically and unconditionally released and discharged, upon:

     

    (i)           a sale or
        other disposition (including by way of consolidation or merger) of Capital Stock of the Subsidiary Guarantor following which such Subsidiary Guarantor ceases to be a Subsidiary of the Company or the sale or disposition of all or substantially all
        the Property of the Subsidiary Guarantor (in each case other than to the Issuer, the Company or a Subsidiary Guarantor) otherwise permitted by this Indenture,

     

    (ii)          the release or
        discharge of such Subsidiary Guarantor’s guarantee of the obligations under the Credit Agreement or as a borrower under the Credit Agreement,

     

    (iii)         the
        designation in accordance with this Indenture of the Subsidiary Guarantor as an Unrestricted Subsidiary,

     

    (iv)         such Subsidiary
        Guarantor ceases to be a Restricted Subsidiary and such Subsidiary Guarantor is not otherwise required to provide a Guarantee of the Notes pursuant to the provisions set forth in Section 4.13 or

     

    (v)          defeasance or
        discharge of the Notes, as provided in Article 8.

     

    (b)          The Note Guaranty of the Company
        will terminate upon defeasance or discharge of the Notes, as provided in Article 8.

     

    Upon delivery by the Issuer to the Trustee of an Officer’s Certificate and an Opinion of Counsel to the foregoing effect, the Trustee will execute any
      documents reasonably required in order to evidence the release of the Guarantor from its obligations under its Note Guaranty.

     

    ARTICLE 11

    Miscellaneous

     

    Section 11.01.          [Reserved].

     

    
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    Section 11.02.       Notices.  Any notice or communication shall be in writing and delivered in person or mailed by first-class mail or sent by facsimile (with a hard copy delivered in person or by
        mail promptly thereafter) and addressed as follows:

     

    if to the Issuer:

     

    Energizer Gamma Acquisition B.V.

    533 Maryville University Drive

    St. Louis, Missouri 63141

    Facsimile: (314) 985-2258

    Attention: General Counsel

     

    with a copy to:

     

    Sullivan & Cromwell LLP

    125 Broad Street

    New York, New York 10004

    Facsimile: (212) 558-3588

    Attention: Neal McKnight

     

    if to the Trustee:

     

    The Bank of New York Mellon Trust Company, N.A.

    2 N. LaSalle Street, Suite 700

    Chicago, IL 60602

    Attention: Corporate Trust Administration

    Facsimile: 312-827-8543

     

    The Issuer or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications.

     

    Any notice or communication to a Noteholder shall be delivered electronically or mailed or delivered to the Noteholder at the Noteholder’s address as it
      appears on the registration books of the Registrar and shall be sufficiently given if so delivered electronically or mailed within the time prescribed.

     

    Failure to mail or deliver a notice or communication to a Noteholder or any defect in it shall not affect its sufficiency with respect to other
      Noteholders. If a notice or communication is mailed or delivered in the manner provided above, it is duly given, whether or not the addressee receives it.

     

    
      107

      
        

    

    The Trustee shall have the right to accept and act upon instructions, including funds transfer instructions (“Instructions”) given pursuant to this Indenture and delivered using Electronic Means; provided, however, that the Issuer shall provide to the Trustee an incumbency certificate listing officers with the
      authority to provide such Instructions (“Authorized Officers”) and containing specimen signatures of such Authorized Officers, which incumbency certificate
      shall be amended by the Issuer whenever a person is to be added or deleted from the listing.  If the Issuer elects to give the Trustee Instructions using Electronic Means and the Trustee in its discretion elects to act upon such Instructions, the
      Trustee’s understanding of such Instructions shall be deemed controlling.  The Issuer understands and agrees that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall conclusively presume that
      directions that purport to have been sent by an Authorized Officer listed on the incumbency certificate provided to the Trustee have been sent by such Authorized Officer.  The Issuer shall be responsible for ensuring that only Authorized Officers
      transmit such Instructions to the Trustee and that the Issuer and all Authorized Officers are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt by
      the Issuer.  The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such Instructions notwithstanding such directions conflict or are inconsistent with a
      subsequent written instruction.  The Issuer agrees: (i) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized Instructions,
      and the risk of interception and misuse by third parties; (ii) that it is fully informed of the protections and risks associated with the various methods of transmitting Instructions to the Trustee and that there may be more secure methods of
      transmitting Instructions than the method(s) selected by the Issuer; (iii) that the security procedures (if any) to be followed in connection with its transmission of Instructions provide to it a commercially reasonable degree of protection in light
      of its particular needs and circumstances; and (iv) to notify the Trustee immediately upon learning of any compromise or unauthorized use of the security procedures.

     

    Section 11.03.      [Reserved].

     

    Section 11.04.      Certificate and Opinion as to Conditions Precedent.  Upon any request or application by the Issuer to the Trustee to take or refrain from taking any action under this Indenture,
        the Issuer shall furnish to the Trustee:

     

    (a)          an Officer’s Certificate in form
        and substance reasonably satisfactory to the Trustee stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and

     

    (b)          an Opinion of Counsel in form and
        substance reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

     

    Section 11.05.      Statements Required in Certificate or Opinion.  Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture shall include:

     

    (a)          a statement that the individual
        making such certificate or opinion has read such covenant or condition;

     

    
      108

      
        

    

    (b)          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;

     

    (c)          a statement that, in the opinion of
        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

     

    (d)          a statement as to whether or not,
        in the opinion of such individual, such covenant or condition has been fully complied with.

     

    Every such certificate or opinion provided under this Indenture shall be without personal recourse to the individual executing the same and may include
      an express statement to that effect.

     

    Section 11.06.      When Notes Disregarded.  In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer
        or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee
        shall be protected in relying on any such direction, waiver or consent, only Notes that the Trustee knows are so owned shall be so disregarded. Also, subject to the foregoing, only Notes outstanding at the time shall be considered in any such
        determination.

     

    Section 11.07.      Rules by Trustee, Paying Agents and Registrar.  The Trustee may make reasonable rules for action by or a meeting of Noteholders. The Registrar and the Paying Agents or co-registrar
        may make reasonable rules for their functions.

     

    Section 11.08.      Business Days.  If a payment date (including, for the avoidance of doubt, the maturity date or any Redemption Date) is not a Business Day, payment shall be made on the next
        succeeding day that is a Business Day, and no interest shall accrue for the intervening period. If a regular record date is not a Business Day, the record date shall not be affected.

     

    Section 11.09.      Governing Law/Waiver of Trial by Jury; Submission to Jurisdiction.  THIS INDENTURE, THE NOTES AND THE NOTE GUARANTEES AND ANY CLAIM, CONTROVERSY OR DISPUTE RELATING TO OR ARISING
        OUT OF THIS INDENTURE, THE NOTES AND THE NOTE GUARANTEES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE
        APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. EACH OF THE PARTIES HERETO AND EACH HOLDER OF NOTES BY ITS ACCEPTANCE THEREOF IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO
        TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES, THE NOTE GUARANTEES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

     

    
      109

      
        

    

    The parties irrevocably submit to the non-exclusive jurisdiction of any New York State or federal court sitting in the Borough of Manhattan, City of New
      York, over any suit, action or proceeding arising out of or relating to this Indenture. To the fullest extent permitted by applicable law, the parties irrevocably waive and agree not to assert, by way of motion, as a defense or otherwise, any claim
      that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or
      proceeding brought in any such court has been brought in an inconvenient forum.

     

    Section 11.10.  Appointment of Agent for Service.

        

     

        

    (a)          The Issuer has appointed the Company, as its authorized agent (the “Authorized Agent”) upon whom all writs, process and
        summonses may be served in any suit, action or proceeding arising out of or based upon this Indenture or the Notes which may be instituted in any New York state or U.S. federal court in New York City, New York.  The Issuer represents and warrants
        that the Authorized Agent has accepted such appointment and has agreed to act as said agent for service of process, and the Issuer agrees to take any and all actions, including the filing of any and all documents, that may be necessary to continue
        each such appointment in full force and effect as aforesaid so long as the Notes remain outstanding.  The Issuer agrees that the appointment of the Authorized Agent shall be irrevocable so long as any of the Notes remain outstanding or until the
        irrevocable appointment by Issuer of a successor agent in the United States as their authorized agent for such purpose and the acceptance of such appointment by such successor.  Service of process upon the Authorized Agent shall be deemed, in every
        respect, effective service of process upon the Issuer.  Copies of any such process so served shall also be given to the Issuer in accordance with Section 11.02 hereof, but the failure of the Issuer to receive such copies shall not affect in any way
        the service of such process as aforesaid.

     

    (b)          To the extent that the Issuer or any of its respective
        properties, assets or revenues may have or hereafter become entitled to, or have attributed to the Issuer, any right of immunity, on the grounds of sovereignty or otherwise, from any legal action, suit or proceeding, from the giving of any relief
        in any such legal action, suit or proceeding, from setoff or from counterclaim from the jurisdiction of any Dutch, New York State, U.S. federal court or other applicable jurisdiction, from service of process, from attachment upon or prior to
        judgment, from attachment in aid of execution of judgment, or from execution of judgment, or other legal process or proceeding for the giving of any relief or for the enforcement of any judgment, in any such court in which proceedings may at any
        time be commenced, with respect to the obligations and liabilities of the Issuer, or any other matter under or arising out of or in connection with, the Notes or this Indenture, the Issuer irrevocably and unconditionally waives or shall waive such
        right to the extent permitted by applicable law, and agree not to plead or claim any such immunity and consent to such relief and enforcement.

     

    
      110

      
        

    

    Section 11.11.      Currency Indemnity and Calculation of Euro-denominated Restriction.

     

    (a)          All payments of interest and principal, including
        payments made upon any redemption of the Notes, will be payable in euro. If, on or after the issuance of the Notes, the euro is unavailable to the Issuer due to the imposition of exchange controls or other circumstances beyond its control or if the
        euro is no longer being used by the then member states of the European Monetary Union that have adopted the euro as their currency or for the settlement of transactions by public institutions of or within the international banking community, then
        all payments in respect of the Notes, will be made in U.S. Dollars until the euro is again available to the Issuer or so used. In such circumstances, the amount payable on any date in euro will be converted into U.S. Dollars at the rate mandated by
        the U.S. Federal Reserve Board as of the close of business on the second business day prior to the relevant payment date or, in the event the U.S. Federal Reserve Board has not mandated a rate of conversion, on the basis of the then most recent
        U.S. dollar/euro exchange rate available on or prior to the second business day prior to the relevant payment date as determined by the Issuer in its sole discretion. Notwithstanding anything herein to the contrary, any payment in respect of the
        Notes so made in U.S. Dollars will not constitute an Event of Default under the Notes or this Indenture. Neither the Trustee nor any Paying Agent shall have any responsibility for any calculation or conversion in connection with the foregoing.

     

    (b)          If for the purpose of obtaining judgment in any court it
        is necessary to convert a sum due hereunder to the Holder of a Note from the currency in which payments under the Notes and this Indenture are payable into another currency (the “Required Currency”), the Issuer and the Guarantors agree, and each Holder agrees, to the fullest extent that the Issuer, each Guarantor and each Holder may effectively do so, that the rate of exchange used will be that
        at which in accordance with normal banking procedures such Holder could purchase the Required Currency with such other currency in New York City, New York on the day two Business Days preceding the day on which final judgment is given.

     

    (c)          The Issuer and the Guarantors obligations in respect of
        any sum payable by them to a Holder shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the Required Currency, be discharged
        only to the extent that on the Business Day following receipt by the Holder of any sum adjudged to be so due in the Judgment Currency, such Holder may in accordance with normal banking procedures purchase the Required Currency with the Judgment
        Currency; if the amount of the Required Currency so purchased is less than the amount originally due and payable to the Holder in the Judgment Currency (determined in the manner set forth in the preceding clause (b)), the Issuer and each Guarantor
        agree, as a separate obligation and notwithstanding any such judgment, to indemnify the Holder of such Note against such loss, and if the amount of the Required Currency so purchased exceeds the sum originally due to such Holder, such Holder agrees
        to pay to the Issuer or such Guarantor such excess, provided that such Holder will have no obligation to pay any such excess as long as the Issuer and the Guarantors have failed to pay such Holder any obligations due and payable under such Note, in
        which case such excess may be applied to the Issuer or the Guarantors obligations under such Note in accordance with the terms thereof.

     

    (d)          The indemnities of the Issuer and the Guarantors
        contained in this Section, to the extent permitted by law: (i) constitute a separate and independent obligation from the other obligations of the Issuer and the Guarantors under this Indenture and the Notes; (ii) shall give rise to a separate and
        independent cause of action against the Issuer and the Guarantors; (iii) shall apply irrespective of any waiver granted by any Holder of the Notes from time to time (other than a waiver of the indemnities set out herein); and (iv) shall continue in
        full force and effect notwithstanding any other judgment, order, claim or proof for a liquidated amount in respect of any sum due under the Notes.

     

    Section 11.12.      No Recourse Against Others.  No past, present or future director, officer, employee or shareholder, as such, of the Issuer or any Guarantor shall have any liability for any
        obligations of the Issuer or any Guarantor under the Notes, this Indenture or any Note Guaranty or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each Noteholder shall waive and
        release all such liability. The waiver and release shall be part of the consideration for the issue of the Notes.

     

    Section 11.13.      Successors.  All agreements of the Issuer and the Guarantors in this Indenture and the Notes shall bind their respective successors. All agreements of the Trustee in this Indenture
        shall bind its successors.

     

    Section 11.14.      Electronic Signatures.  The words “execution,” “signed,” “signature,” and words of similar import in this Indenture and the Notes shall be deemed to include electronic or digital
        signatures or the keeping of records in electronic form, each of which shall be of the same effect, validity, and enforceability as manually executed signatures or a paper-based recordkeeping system, as the case may be, to the extent and as
        provided for under applicable law, including the Electronic Signatures in Global and National Commerce Act of 2000 (15 U.S.C. §§ 7001-7006), the Electronic Signatures and Records Act of 1999 (N.Y. State Tech. §§ 301-309), or any other similar state
        laws based on the Uniform Electronic Transactions Act; provided that, notwithstanding anything herein to the contrary, the Trustee is not under any
        obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by such Trustee pursuant to procedures approved by such Trustee.

     

    Section 11.15.      Table of Contents; Headings.  The table of contents, cross-reference sheet and headings of the Articles and Sections of this Indenture and the Notes have been inserted for
        convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof.

     

    Section 11.16.      Force Majeure.  In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by,
        directly or indirectly, forces beyond its 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 and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance
        as soon as practicable under the circumstances.

     

    
      111

      
        

    

    Section 11.17.      U.S.A. Patriot Act.  The parties hereto acknowledge that in accordance with Section 326
        of the U.S.A. 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 will provide the Trustee with such information within the Issuer’s custody or control or as the Issuer may reasonably obtain that the
        Trustee may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act.

     

    Section 11.18.      FATCA.  In order to assist the Trustee with its compliance with Sections 1471 through 1474 of the U.S. Internal Revenue Code and the rules and regulations thereunder (as in effect
        from time to time, collectively, the “Applicable Law”) the Issuer
        agrees (i) to provide to the Trustee reasonably available information regarding the Issuer or the Holders of Notes (solely in their capacity as such) and which is necessary for the Trustee’s determination of whether it has tax related obligations
        under Applicable Law and (ii) that the Trustee shall be entitled to make any withholding or deduction from payments under this Indenture to the extent necessary to comply with Applicable Law and shall have no liability in connection therewith other
        than as a result of its negligence or willful misconduct. Nothing in the immediately preceding sentence shall be construed as obligating the Issuer to make any “gross up” payment or similar reimbursement in connection with a payment in respect of
        which amounts are so withheld or deducted.

     

    [Remainder of Page Intentionally Left Blank]

     

    
      112

      
        

    

    In witness whereof, the parties have caused this Indenture to be duly executed as of the date first written above.

     

    	 	
            ENERGIZER GAMMA ACQUISITION B.V.,

            as Issuer

          
	 	 
	 	 	
            By:

          	
            /S/ Hannah Hyunjin Kim

          
	 	 	 	Name:	
            Hannah Hyunjin Kim

          
	 	 	 	Title:	
            Director A

          

     

    	 	
            By:

          	
            /S/ Cornelis Henrik Fer Douwe Karssen

          
	 	 	Name: 

          	
            Cornelis Henrik Fer Douwe Karssen

          
	 	 	Title:	
            Director B

          

    

    

    
      [Signature Page to the Indenture]

    

     

    
      113

      
        

    

    
      	 	
              ENERGIZER HOLDINGS, INC.

            
	 	
              ENERGIZER, LLC

            
	 	
              ENERGIZER MANUFACTURING, INC.

            
	 	
              ENERGIZER BRANDS, LLC

            
	 	
              ENERGIZER INTERNATIONAL, INC.

            
	 	
              ENERGIZER INVESTMENT COMPANY

            
	 	
              ENERGIZER BRANDS II HOLDING LLC

            
	 	
              ASSOCIATED PRODUCTS, LLC

            
	 	
              AMERICAN COVERS, LLC

            
	 	
              CALIFORNIA SCENTS, LLC

            
	 	
              ENERGIZER AUTO BRANDS, INC.

            
	 	 	
              (f/k/a ARMORED AUTOGROUP INC.)

            
	 	
              ENERGIZER AUTO, INC.

            
	 	 	
              (f/k/a THE ARMOR ALL/STP PRODUCTS

            
	 	 	
              COMPANY)

            
	 	
              ENERGIZER AUTO MANUFACTURING, INC.

            
	 	 	
              (f/k/a STP PRODUCTS MANUFACTURING

            
	 	 	
              COMPANY)

            
	 	
              ENERGIZER AUTO SALES, INC.

            
	 	 	
              (f/k/a ARMORED AUTOGROUP SALES INC.)

            
	 	
              each as a Guarantor

            

    

    

    	 	By:	
            /S/ Timothy W. Gorman

          
	 	 	Name:	Timothy W. Gorman
	 	 	Title:	
            Executive Vice President and Chief

            Financial Officer

          

    

    	
             

          	
            ENERGIZER INTERNATIONAL SUB, LLC

            ENERGIZER INTERNATIONAL HOLDINGS, LLC

            each as a Guarantor

          

    

    

    	 	By:	
            /S/ John J. Drabik

          
	 	 	Name:	John J. Drabik
	 	 	Title: 

          	
            Senior Vice President, Corporate Controller

            and Treasurer 

          

    

    
      
        [Signature Page to the Indenture]

         

        

      

    

    
      
        

    

    	

          	
            THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee

          
	 	 
	

          	By:	
            /S/ Lawrence M. Kusch

          
	

          	 	Name:	
            Lawrence M. Kusch

          
	

          	 	Title:	
            Vice President

          

     
      
        [Signature Page to the Indenture]

         

        

        
          
            

        

        
          	

                	
                  
                    THE BANK OF NEW YORK MELLON, LONDON BRANCH, as Paying Agent

                  

                
	 	 
	

                	By:	
                  /S/ Gregory Dale

                
	

                	 	Name:	
                  Gregory Dale

                
	

                	 	Title:	
                  
                    Authorized Signatory

                  

                

        

         

        

        [Signature Page to the Indenture] 

      

    

    
      
        

    

    
    Appendix A

     

    PROVISIONS RELATING TO THE NOTES

     

    	1.	
            Definitions.

          

     

    1.1.         Definitions.

     

    For the purposes of this Appendix A the following terms shall have the meanings indicated below:

     

    “Clearstream” means Clearstream Banking, société anonyme or any
      successor or securities clearing agency.

     

    “Common Depositary” means The Bank of New York Mellon, London
      Branch, its nominees and their respective successors on behalf of Euroclear and Clearstream.

     

    “Definitive Note” means a certificated Note bearing, if
      required, the restricted securities legend set forth in Section 2.3(c).

     

    “Distribution Compliance Period” means, with respect to any
      Notes, the period of 40 consecutive days beginning on the later of (i) the day on which such Notes are first offered to Persons other than distributors (as defined in Regulation S) in reliance on Regulation S and (ii) the issue date with respect to
      such Notes.

     

    “Euroclear” means Euroclear Bank SA/NV, as operator of the
      Euroclear Clearance System or any successor securities clearing agency.

     

    “Notes Custodian” means the custodian with respect to a Global
      Note (as appointed by the Common Depositary) or any successor person thereto, who shall initially be the Trustee.

     

    “Original Notes” has the meaning assigned to such term in the
      recitals to this Indenture.

     

    “QIB” means a “qualified institutional buyer” as defined in Rule
      144A.

     

    “Transfer Restricted Notes” means Definitive Notes and any other
      Notes that bear or are required to bear the legend set forth in Section 2.3(c) hereto.

     

    1.2.         Other
        Definitions.

     

    
      	
              
                Term

              

            	 	
              
                Defined in Section:

              

            
	
              “Agent Members”

            	 	
              2.1(b)

            
	
              “Global Note”

            	 	
              2.1(a)

            
	
              “Regulation S”

            	 	
              2.1

            
	
              “Regulation S Global Note”

            	 	
              2.1(a)

            
	
              “Rule 144A”

            	 	
              2.1

            
	
              “Rule 144A Global Note”

            	 	
              2.1(a)

            

    

    

    

    
      Appendix A-1

      
        

    

    	2.	
            The Notes.

          

     

    2.1.         Form and Dating.  The Notes will be offered and sold by the Issuer, from time to time. The Notes will be resold initially only to QIBs in reliance on Rule 144A under the Securities Act
        (“Rule 144A”) and in reliance on Regulation S under the Securities Act (“Regulation

          S”). The Notes may thereafter be transferred to, among others, QIBs and purchasers in reliance on Regulation S, subject to the restrictions on transfer set forth herein and in the legend on the certificates representing the Global Notes
        and the Definitive Notes set forth below.

     

    (a)          Global Notes.  The Notes initially resold pursuant to Rule 144A shall be issued initially in the form of one or more permanent global Notes in definitive, fully registered form
        (collectively, the “Rule 144A Global Note”) with the restricted securities legend set forth in Exhibit A to this Indenture, and Notes initially resold pursuant
        to Regulation S shall be issued initially in the form of one or more permanent global Notes in definitive, fully registered form with the global securities legend and the applicable restricted securities legend set forth in Exhibit A to this
        Indenture (the “Regulation S Global Note”) or with such other legends as may be appropriate. Except as set forth in this Section 2.1(a) and Section 2.3(b)
        hereof, beneficial ownership interest in a Regulation S Global Note will be exchangeable for interests in a Rule 144A Global Note or a Definitive Note in registered certificated form only after the expiration of the Distribution Compliance Period
        and then only (i) upon certification that beneficial ownership interests in such Regulation S Global Note are owned either by non-U.S. persons or U.S. persons who purchased such interests in a transaction that did not require registration under the
        Securities Act and (ii) in the case of an exchange for a Definitive Note, in compliance with the requirements set forth in Section 2.4, in each case without interest coupons and with the global securities legend and restricted securities legend set
        forth in Exhibit A to this Indenture, which shall be deposited on behalf of the purchasers of the Notes represented thereby with the Notes Custodian, and registered in the name of the Common Depositary or the nominee of the Common Depositary, duly
        executed by the Issuer and authenticated by the Trustee or the Authentication Agent as provided in this Indenture. The Rule 144A Global Note and Regulation S Global Note are collectively referred to herein as “Global Notes.” The aggregate principal amount of the Global Notes may from time to time be increased or decreased by adjustments made on the records of the Registrar and the Common
        Depositary or its nominee, as the case may be, in connection with transfers of interest as hereinafter provided.

     

    The provisions of the “Operating Procedures of the Euroclear System” and “Terms and Conditions Governing Use of Euroclear” and the “General Terms and
      Conditions of Clearstream Banking” and “Customer Handbook” of Clearstream shall be applicable to transfers of beneficial interests in Global Notes that are held by participants through Euroclear or Clearstream.

     

    (b)          Book-Entry Provisions.  This Section 2.1(b) shall apply only to a Global Note deposited with or on behalf of the Common Depositary.

     

    
      Appendix A-2

      
        

    

    The Issuer shall execute and the Trustee shall, in accordance with this Section 2.1(b) and pursuant to an order of the Issuer, authenticate and deliver
      initially one or more Global Notes that (a) shall be registered in the name of the Common Depositary for such Global Note or Global Notes or the nominee of the Common Depositary and (b) shall be delivered by the Trustee to such Common Depositary or
      pursuant to the Common Depositary’s instructions or held by the Trustee as Notes Custodian.

     

    Members of, or participants, in Euroclear and Clearstream (“Agent
        Members”) shall have no rights under this Indenture with respect to any Global Note held on their behalf by the Common Depositary or by the Trustee as Notes Custodian or under such Global Note, and the Common Depositary may be treated by the
      Issuer, the Trustee and any agent of the Issuer or the Trustee as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of the Issuer or
      the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Common Depositary or impair, as between the Common Depositary and its Agent Members, the operation of customary practices of such Common
      Depositary and its Agent Members governing the exercise of the rights of a holder of a beneficial interest in any Global Note.

     

    (c)          Definitive Notes.  Except as provided in Section 2.3 or Section 2.4 hereof, owners of beneficial interests in Global Notes will not be entitled to receive physical delivery of Definitive
        Notes.

     

    2.2.         Authentication.  The Trustee or Authentication Agent shall authenticate and deliver Notes in accordance with Section 2.03 of this Indenture.

     

    2.3.        Transfer and Exchange.  vi) Transfer and Exchange of Definitive Notes. When Definitive Notes
        are presented to the Registrar or a co-registrar with a request:

     

    (x)          to register the transfer of such Definitive Notes; or

     

    (y)          to exchange such Definitive Notes for an equal principal
        amount of Definitive Notes of other authorized denominations, the Registrar or co-registrar shall register the transfer or make the exchange as requested if its reasonable requirements for such transaction are met; provided, however, that the Definitive Notes surrendered for transfer or exchange:

     

    (i)           shall be duly
        endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Issuer and the Registrar or co-registrar, duly executed by the Holder thereof or his attorney duly authorized in writing; and

     

    (ii)          if such
        Definitive Notes bear a restricted securities legend, they are being transferred or exchanged pursuant to an effective registration statement under the Securities Act or pursuant to clause (A), (B) or (C) below, and are accompanied by the following
        additional information and documents, as applicable:

     

    
      Appendix A-3

      
        

    

    (A)         if such
        Definitive Notes are being delivered to the Registrar by a Holder for registration in the name of such Holder, without transfer, a certification from such Holder to that effect; or

     

    (B)         if such
        Definitive Notes are being transferred to the Issuer, a certification to that effect; or

     

    (C)         if such
        Definitive Notes are being transferred pursuant to an exemption from registration in accordance with Rule 144 under the Securities Act, (i) a certification to that effect and (ii) an opinion of counsel or other evidence reasonably satisfactory to
        the Issuer and the Trustee as to the compliance with the restrictions set forth in the legend set forth in Section 2.3(c)(i).

     

    (b)          Transfer and Exchange of Global Notes.

     

    (i)           The transfer
        and exchange of Global Notes or beneficial interests therein shall be effected through the Common Depositary, in accordance with this Indenture (including applicable restrictions on transfer set forth herein, if any) and the applicable rules and
        procedures of Euroclear and Clearstream, as applicable, therefor. A transferor of a beneficial interest in a Global Note shall deliver a written order given in accordance with Euroclear and/or Clearstream’s applicable rules and procedures
        containing information regarding the participant account of Euroclear or Clearstream, as applicable, to be credited with a beneficial interest in the Global Note and such account shall be credited in accordance with such instructions with a
        beneficial interest in the Global Note and the account of the Person making the transfer shall be debited by an amount equal to the beneficial interest in the Global Note being transferred.

     

    (ii)          If the proposed
        transfer is a transfer of a beneficial interest in one Global Note to a beneficial interest in another Global Note, the Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Note to which
        such interest is being transferred in an amount equal to the principal amount of the interest to be so transferred, and the Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of the Global
        Note from which such interest is being transferred.

     

    (iii)         Notwithstanding

        any other provisions of this Appendix A (other than the provisions set forth in Section 2.4), a Global Note may not be transferred as a whole except by the Common Depositary to a nominee of the Common Depositary or by a nominee of the Common
        Depositary to the Common Depositary or another nominee of the Common Depositary or by the Common Depositary or any such nominee to a successor Common Depositary or a nominee of such successor Common Depositary.

     

    
      Appendix A-4

      
        

    

    (iv)         In the event
        that a Global Note is exchanged for Definitive Notes pursuant to Section 2.4, such Notes may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of this Section 2.3 (including the certification
        and other requirements set forth herein and on the reverse of the Original Notes intended to ensure that such transfers comply with Rule 144A, Regulation S or such other applicable exemption from registration under the Securities Act, as the case
        may be) and such other procedures as may from time to time be adopted by the Issuer.

     

    (v)          The transferor
        shall, to the extent required by applicable tax law, also provide or cause to be provided to the Trustee all information that is (i) in its possession, (ii) specifically required by the Trustee in sufficient detail to permit compliance with such
        request and (iii) necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Section 6045 of the Code.  The Trustee may rely on the information
        provided to it and shall have no responsibility to verify or ensure the accuracy of such information.

     

    (vi)         [reserved]

     

    (vii)        Restrictions on Transfer of Regulation S Global Notes.

     

    (A)         During the
        Distribution Compliance Period, beneficial ownership interests in Regulation S Global Notes may only be sold, pledged or transferred (i) to the Issuer, (ii) in an offshore transaction in accordance with Rule 904 of Regulation S, (iii) to QIBs
        pursuant to Rule 144A who take delivery in the form of a beneficial interest in the Rule 144A Global Note or (iv) pursuant to an effective registration statement under the Securities Act, in each case in accordance with any applicable securities
        laws of any State of the United States; and

     

    (B)         Beneficial
        interests in a Rule 144A Global Note may be transferred to a Person who takes delivery in the form of an interest in a Regulation S Global Note, whether before or after the expiration of the Distribution Compliance Period, only if the transferor
        first delivers to the Trustee a written certificate to the effect that such transfer is being made in accordance with Rule 903 or 904 of Regulation S or Rule 144 (if applicable).

     

    
      Appendix A-5

      
        

    

    
      (c)          Legend.

       

      (i)           Except as
          permitted by the following paragraph (ii), each certificate evidencing the Global Notes and the Definitive Notes (and all Notes issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form:

    

     

    

    “THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES
      SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE SECURITY
      EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE
      ISSUER THAT (A) SUCH SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (1)(a) INSIDE THE UNITED STATES TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE
      SECURITIES ACT) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES ACT, (b) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A TRANSACTION
      MEETING THE REQUIREMENTS OF RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (c) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF APPLICABLE) OR (d) IN ACCORDANCE WITH ANOTHER
      EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT(SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (b), (c) OR (d) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL,
      CERTIFICATION AND/OR OTHER INFORMATION ACCEPTABLE TO THE ISSUER AND/OR TRUSTEE IF THE ISSUER AND/OR TRUSTEE SO REQUEST), (2) TO THE ISSUER OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE
      SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THE SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET FORTH IN
      CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF THE SECURITY EVIDENCED HEREBY. THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, REPRESENTS AND AGREES FOR THE BENEFIT OF THE
      ISSUER THAT IT IS (1) A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A OR (2) NOT A U.S. PERSON AND IS OUTSIDE OF THE UNITED STATES WITHIN THE MEANING OF (OR AN ACCOUNT SATISFYING THE REQUIREMENTS OF PARAGRAPH (k)(2)(i) OF RULE 902
      UNDER) REGULATION S UNDER THE SECURITIES ACT.”

     

    
      Appendix A-6

      
        

    

    
      Each Definitive Note will also bear the following additional legend:

    

     

    

    “IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR MAY REASONABLY
      REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.”

     

    (ii)          Upon any sale
        or transfer of a Transfer Restricted Note (including any Transfer Restricted Note represented by a Global Note) pursuant to Rule 144 under the Securities Act:

     

    (A)         in the case of
        any Transfer Restricted Note that is a Definitive Note, the Registrar shall permit the Holder thereof to exchange such Transfer Restricted Note for a Note that does not bear the legends set forth above and rescind any restriction on the transfer of
        such Transfer Restricted Note if, and to the extent, no resale restrictions under such Rule shall continue to apply; and

     

    (B)         in the case of
        any Transfer Restricted Note that is represented by a Global Note, the Registrar shall permit the Holder thereof to exchange such Transfer Restricted Note for a Note that does not bear the legends set forth above and rescind any restriction on the
        transfer of such Transfer Restricted Note if, and to the extent, no resale restrictions under such Rule shall continue to apply,

     

    in either case, if the Holder certifies in writing to the Registrar that its request for such exchange was made in reliance on Rule 144 (such certification to be in the
      form set forth on the reverse of the Note and complies with the requirement to provide such legal opinions, certifications and other information as the Issuer has reasonably requested as set forth in such form on the reverse of the Note).

     

    (d)          Cancellation or Adjustment of Global Note.  At such time as all beneficial interests in a Global Note have either been exchanged for Definitive Notes, redeemed, repurchased or canceled,
        such Global Note shall be returned by the Common Depositary to the Trustee for cancellation pursuant to its customary practice.

     

    At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Definitive Notes, redeemed, repurchased or canceled,
      the principal amount of Notes represented by such Global Note shall be reduced and an adjustment shall be made on the books and records of the Trustee or by the Common Depositary at the direction of the Trustee, as applicable (if it is then the Notes
      Custodian for such Global Note) or the applicable Notes Custodian with respect to such Global Note, by the Trustee or by the Common Depositary at the direction of the Trustee or the Notes Custodian, as applicable, to reflect such reduction.

     

    
      Appendix A-7

      
        

    

    
      (e)          Obligations with Respect to Transfers and Exchanges of Notes.

    

     

      

    (i)           To permit
        registrations of transfers and exchanges, the Issuer shall execute and the Trustee shall authenticate Definitive Notes and Global Notes at the Registrar’s or co-registrar’s request.

     

    (ii)          No service
        charge shall be made for any registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such
        transfer taxes, assessments or similar governmental charge payable upon exchange or transfer pursuant to Sections 3.06 and 9.05 of this Indenture).

     

    (iii)         The Registrar
        or co-registrar shall not be required to register the transfer of or exchange of any Note for a period beginning 15 calendar days before (a) the record date for any payment of interest on the Notes, (b) any date fixed for redemption of the Notes or
        (c) the date fixed for selection of the Notes to be redeemed in part. Also, the Registrar or co-registrar shall not be required to register the transfer or exchange of any Notes (a) selected for redemption or (b) tendered (and not withdrawn) in
        connection with a Change of Control Offer, Asset Sale Offer, or other tender offer. In the event of the transfer of any Note, the transfer agent may require a holder, among other things, to furnish appropriate endorsements and transfer documents as
        described in this Indenture. Issuer may require a holder to pay any taxes and fees required by law and permitted by this Indenture and the Notes.

     

    (iv)         Prior to the
        due presentation for registration of transfer of any Note, the Issuer, the Trustee, the Paying Agent, the Registrar or any co-registrar may deem and treat the person in whose name a Note is registered as the absolute owner of such Note for the
        purpose of receiving payment of principal of and interest on such Note and for all other purposes whatsoever, whether or not such Note is overdue, and none of the Issuer, the Trustee, the Paying Agent, the Registrar or any co-registrar shall be
        affected by notice to the contrary.

     

    (v)          All Notes issued
        upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the Notes surrendered upon such transfer or exchange.

     

    (f)           No Obligation of the Trustee.

     

    (i)           The Trustee
        shall have no responsibility or obligation to any beneficial owner of a Global Note, a member of, or a participant in Euroclear or Clearstream or any other Person with respect to the accuracy of the records of the Common Depositary, Euroclear or
        Clearstream or any nominee or of any participant or member thereof, with respect to any ownership interest in the Notes or with respect to the delivery to any participant, member, beneficial owner or other Person (other than Euroclear or
        Clearstream) of any notice (including any notice of redemption or repurchase) or the payment of any amount, under or with respect to such Notes. All notices and communications to be given to the Holders and all payments to be made to Holders under
        the Notes shall be given or made only to the registered Holders (which shall be Euroclear or Clearstream or any nominee thereof in the case of a Global Note). The rights of beneficial owners in any Global Note shall be exercised only through
        Euroclear or Clearstream, subject to the applicable rules and procedures of Euroclear or Clearstream, as applicable. The Trustee may rely and shall be fully protected in relying upon information furnished by Euroclear or Clearstream with respect to
        any members, participants and any beneficial owners thereof.

     

    
      Appendix A-8

      
        

    

    (ii)          The Trustee
        shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any
        transfers between or among participants, members or beneficial owners of Euroclear or Clearstream, as applicable, in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required
        by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof.

     

    2.4.         Definitive
        Notes.

     

    (a)          A Global Note deposited with the
        Common Depositary or with the Trustee as Notes Custodian pursuant to Section 2.1 shall be transferred (or, in the case of clause (ii) below, shall be transferrable) to the beneficial owners thereof in the form of Definitive Notes in an aggregate
        principal amount equal to the principal amount of such Global Note, in exchange for such Global Note, only if such transfer complies with Section 2.3 and (i) Euroclear or Clearstream, as applicable, acting through itself or the Common Depositary,
        notifies the Issuer that it is unwilling or unable to continue as a clearing system for such Global Note or if at any time Euroclear or Clearstream ceases to be a “clearing agency” registered under the Exchange Act, at a time when Euroclear or
        Clearstream is required to be so registered in order to act as depositary, and a successor clearing system is not appointed by the Issuer within 120 days of such notice, or (ii) an Event of Default has occurred or is continuing and the beneficial
        owner of a Global Note deposited with the Common Depositary requests such exchange in writing delivered through the Common Depositary.

     

    (b)          Any Global Note that is
        transferable to the beneficial owners thereof pursuant to this Section 2.4 shall be surrendered by the Common Depositary to the Trustee, to be so transferred, in whole or from time to time in part, without charge, and the Trustee shall authenticate
        and deliver, upon such transfer of each portion of such Global Note, an equal aggregate principal amount of Definitive Notes of authorized denominations. Definitive Notes issued in exchange for any portion of a Global Note transferred pursuant to
        this Section shall be executed, authenticated and delivered only in denominations of €100,000 and any integral multiples of €1,000 in excess thereof and registered in such names as the Euroclear or Clearstream shall direct. Any Definitive Note
        delivered in exchange for an interest in the Global Note shall bear the restricted securities legend set forth in Section 2.3(c)(i).

     

    
      Appendix A-9

      
        

    

    (c)          The registered Holder of a Global
        Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action that a Holder is entitled to take under this Indenture or the Notes.

     

    (d)          In the event of the occurrence of
        any of the events specified in Section 2.4(a)(i) or (ii), the Issuer will promptly make available to the Trustee a reasonable supply of Definitive Notes in definitive, fully registered form without interest coupons.

     

    
      Appendix A-10

      
        

    

    
    EXHIBIT A

     

    [FORM OF FACE OF INITIAL NOTE]

     

    [Global Notes Legend]

     

    UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR BANK SA/NV, AS OPERATOR OF THE EUROCLEAR SYSTEM (“EUROCLEAR”) OR
      CLEARSTREAM BANKING, SOCIETE ANONYME (“CLEARSTREAM”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR SUCH
      OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR OR CLEARSTREAM (AND ANY PAYMENT IS MADE TO THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED, OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
      EUROCLEAR OR CLEARSTREAM), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED, HAS AN INTEREST HEREIN.

     

    TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO THE COMMON DEPOSITARY, TO NOMINEES OF THE COMMON
      DEPOSITARY OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

     

    
      A-1

      
        

    

    [Restricted Notes Legend]

     

    “THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES
      SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE SECURITY
      EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE
      ISSUER THAT (A) SUCH SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (1)(a) INSIDE THE UNITED STATES TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE
      SECURITIES ACT) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES ACT, (b) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A TRANSACTION
      MEETING THE REQUIREMENTS OF RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (c) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF APPLICABLE) OR (d) IN ACCORDANCE WITH ANOTHER
      EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT(SUBJECT TO THE ISSUER’S AND THE RIGHT OF THE ISSUER AND/OR THE TRUSTEE PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (b), (c) OR (d) TO REQUIRE THE DELIVERY OF AN
      OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION ACCEPTABLE TO THE ISSUER AND/OR THE TRUSTEE IF THE ISSUER OR THE TRUSTEE SO REQUESTS), (2) TO THE ISSUER OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN
      ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THE SECURITY EVIDENCED HEREBY OF THE
      RESALE RESTRICTIONS SET FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF THE SECURITY EVIDENCED HEREBY. THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, REPRESENTS AND
      AGREES FOR THE BENEFIT OF THE ISSUER THAT IT IS (1) A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A OR (2) NOT A U.S. PERSON AND IS OUTSIDE OF THE UNITED STATES WITHIN THE MEANING OF (OR AN ACCOUNT SATISFYING THE REQUIREMENTS OF
      PARAGRAPH (k)(2)(i) OF RULE 902 UNDER) REGULATION S UNDER THE SECURITIES ACT.”

     

    [Definitive Notes Legend]

     

    IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER
      AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.

     

    
      A-2

      
        

    

    [FORM OF FACE OF INITIAL NOTE]

     
      	No. [ ]	€

    

    

    3.500% Senior Notes due 2029

     

    ISIN No. [XS2353487304] [XS2353416386]

    Common Code: [235348730] [235341638]

     

    ENERGIZER GAMMA ACQUISITION B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of The Netherlands, promises to pay to The Bank of New York Depository (Nominees) Limited, the registered Holder thereof, as nominee of The Bank of
      New York Mellon, London Branch, as common depository for Euroclear Bank SA/NV (“Euroclear”) and Clearstream Banking S.A. (“Clearstream”), or registered assigns, the principal sum of [[ ] euros (€)](1) [as set forth on the Schedule of Increases and Decreases annexed hereto](2) on June 30, 2029.

     

    Interest Payment Dates: June 30 and December 31.

    Record Dates: June 15 and December 15.

     

    
      

    

    
      	
              (1)

            	
              Insert for Definitive Securities

            

    

     

    
      	
              (2)

            	
              Insert for Global Securities

            

    

     

    
      A-3

      
        

    

    IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed.

     

    	 	
            ENERGIZER GAMMA ACQUISITION B.V.

          
	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    
      A-4

      
        

    

    TRUSTEE’S CERTIFICATE OF AUTHENTICATION

     

    Dated:

     

    	
            THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee, certifies that this is one of the Notes referred to in the Indenture.

          	 
	 	 
	
            By:

          	 	 
	 	
            Authorized Signatory

          	 

    

    

    
      A-5

      
        

    

    [FORM OF REVERSE SIDE OF NOTE]

    3.500 % Senior Notes due 2029

     

    	1.	
            Interest

          

     

    ENERGIZER GAMMA ACQUISITION B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of The Netherlands, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Issuer”), promises to pay interest on the principal amount of this 3.500% Senior Note due 2029 (this “Note”
      and, together with any other 3.500% Senior Notes due 2029, the “Notes”) at the rate per annum shown above. The Issuer will pay interest semiannually on June 30
      and December 31 of each year, commencing December 31, 2021. Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from June 23, 2021. Interest shall be computed on the basis of a
      360-day year of twelve 30-day months. The Issuer shall pay interest on overdue principal at the rate borne by the Notes plus 1% per annum, and it shall pay interest on overdue installments of interest at the rate borne by the Notes to the extent
      lawful.  The Issuer may be required to pay Additional Amounts (as defined in the Indenture) on the Notes pursuant to the provisions of the Indenture.

     

    	2.	
            Method of Payment

          

     

    The Issuer will pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders of Notes at the close of business on the
      June 15 or December 15 next preceding the interest payment date even if Notes are canceled after the record date and on or before the interest payment date. Holders must surrender Notes to a Paying Agent to collect principal payments. The Issuer will
      pay principal and interest in money of the then member states of the European Monetary Union that have adopted the euro as their currency that at the time of payment is legal tender for payment of public and private debts, subject to the succeeding
      paragraph. Payments in respect of the Notes represented by a Global Note (including principal, premium, if any, and interest) shall be made by wire transfer of immediately available funds to the accounts specified by Euroclear or Clearstream or any
      successor depositary. The Issuer shall make all payments in respect of a Definitive Note (including principal, premium, if any, and interest) at the office of the Paying Agent, except that, at the option of the Issuer, payment of interest may be made
      by mailing a check to the registered address of each Holder thereof.

     

    The Notes will be denominated in euro and all payments of principal and interest thereon will be paid in euro. If, on or after the issuance of the Notes,
      the euro is unavailable to the Issuer due to the imposition of exchange controls or other circumstances beyond its control or if the euro is no longer being used by the then member states of the European Monetary Union that have adopted the euro as
      their currency or for the settlement of transactions by public institutions of or within the international banking community, then all payments in respect of the Notes will be made in U.S. Dollars until the euro is again available to the Issuer or so
      used. In such circumstances, the amount payable on any date in euro will be converted into U.S. Dollars by the Issuer at the rate mandated by the U.S. Federal Reserve Board as of the close of business on the second Business Day prior to the relevant
      payment date or, in the event the U.S. Federal Reserve Board has not mandated a rate of conversion, on the basis of the then most recent U.S. Dollar/euro exchange rate available on or prior to the second Business Day prior to the relevant payment
      date as determined by the Issuer in its sole discretion. Any payment in respect of the Notes so made in U.S. Dollars will not constitute an event of default under the Notes or the Indenture. Neither the Trustee nor the applicable Paying Agent shall
      have any responsibility for any calculation or conversion in connection with the foregoing.

     

    
      A-6

      
        

    

    	3.	
            Paying Agent and Registrar

          

     

    Initially, The Bank of New York Mellon Trust Company, N.A. (the “Trustee”)

      will act as Registrar and The Bank of New York Mellon, London Branch, as Paying Agent. The Issuer may appoint and change any Paying Agent, Registrar or co-registrar without notice. The Company (as defined in the Indenture) or any of its domestically
      incorporated Subsidiaries may act as Paying Agent, Registrar or co-registrar.

     

    	4.	
            Indenture; Note Guaranty

          

     

    The Issuer issued the Notes under an Indenture, dated as of June 23, 2021 (the “Indenture”), among the Issuer, the Guarantors party thereto from time to time, the Trustee and The Bank of New York Mellon, London Branch as Paying Agent. The terms of the Notes include those stated in the Indenture.
      Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and Noteholders are referred to the Indenture for a statement of those terms. This Note is guaranteed,
      as set forth in the Indenture.

     

    The Indenture imposes certain limitations on the ability of the Company and its Restricted Subsidiaries (including the Issuer) to, among other things,
      make certain Investments and other Restricted Payments, pay dividends and other distributions, incur Debt, enter into consensual restrictions upon the payment of certain dividends and distributions by such Restricted Subsidiaries, enter into or
      permit certain transactions with Affiliates, create or incur Liens and make Asset Sales. The Indenture also imposes limitations on the ability of the Issuer and the Guarantors to consolidate or merge with or into any other Person or sell, transfer,
      assign, lease, convey or otherwise dispose of all or substantially all of the Property of the Issuer or the Guarantors.

     

    To the extent permitted by applicable law, in the event of any inconsistency between the terms of the Note and the terms of the Indenture, the terms of
      the Indenture shall control.

     

    	5.	
            Optional Redemption

          

     

    (a)          Except as set forth below, the
        Notes may not be redeemed at the option of the Issuer prior to June 30, 2024. On and after June 30, 2024, the Issuer may, at its option, redeem all or any portion of the Notes, at once or over time, upon not less than 10 days nor more than 60 days
        prior notice. The Notes may be redeemed at the redemption prices as set forth below, plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date (subject to the right of Holders of record on the relevant record date to receive
        interest due on the relevant interest payment date), calculated by the Issuer. The following prices are for Notes redeemed during the 12-month period commencing on June 30 of the years set forth below, and are expressed as percentages of principal
        amount:

     

    
      A-7

      
        

    

    	
            
              Period

            

          	 	
            
              Redemption Price

            

          	 
	
            2024

          	 	 	
            101.750

          	
            %

          
	
            2025

          	 	 	
            100.875

          	
            %

          
	
            2026 and thereafter

          	 	 	
            100.000

          	
            %

          

     

    (b)          Notwithstanding the foregoing, at
        any time and from time to time prior to June 30, 2024 the Issuer may, on any one or more occasions, redeem up to a maximum of 40% of the original aggregate principal amount of the Notes issued (including Additional Notes, if any) with the proceeds
        from one or more Equity Offerings by the Issuer, at a redemption price equal to 103.500% of the principal amount thereof, plus accrued and unpaid interest thereon, if any, to, but excluding, the Redemption Date (subject to the right of Holders of
        record on the relevant record date to receive interest due on the relevant interest payment date); provided, however, that immediately after giving effect to any such redemption, at least 50% of the original aggregate principal amount of the Notes (including Additional Notes, if any) remains outstanding.
        Any such redemption shall be made within 180 days of such Equity Offering upon not less than 10 and no more than 60 days’ prior notice.

     

    (c)          Notwithstanding the foregoing, the
        Issuer may choose to redeem all or any portion of the Notes, at once or over time, prior to June 30, 2024. If it does so, it may redeem the Notes upon not less than 10 days nor more than 60 days prior notice. To redeem the Notes, the Issuer must
        pay a redemption price equal to the sum of:

     

    (i)          100% of the
        principal amount of the Notes to be redeemed, plus

     

    (ii)          the Applicable
        Premium,

     

    plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest
      due on the relevant interest payment date).

     

    “Applicable Premium” means, with respect to any Note on any
      Redemption Date, the greater of:

     

    (a)          1.0% of the principal amount of such Note; and

     

    (b)          the excess, if any, of (i) the present value on such
        Redemption Date of (A) the redemption price of such Notes on June 30, 2024 (such redemption price being that described in clause (a) of this paragraph 5), plus (B)

        all required remaining scheduled interest payments due on such Note through June 30, 2024 computed using a discount rate equal to the Bund Rate plus 50 basis points, over (ii) the principal amount of such Note.

     

    
      A-8

      
        

    

    “Bund Rate” means, as obtained by the Issuer, as of any
      Redemption Date, the yield to maturity as of such Redemption Date of direct obligations of the Federal Republic of Germany of comparable maturity (as published in the Financial Times or, if not published in therein, any publicly available similar
      source of market data) that has become publicly available at least two Business Days prior to the Redemption Date most nearly equal to the period from such Redemption Date to June 30, 2024; provided, however, that if the period from such Redemption Date to June 30, 2024 is less than one year, the weekly
      average yield on actually traded direct obligations of the Federal Republic of Germany adjusted to a constant maturity of one year will be used, and provided, further, that in no case for any purpose under the Indenture shall the Bund Rate be less than 0.00%.

     

    (d)          Notwithstanding the foregoing, in
        connection with any tender offer, Change of Control Offer or Asset Sale Offer, if Holders of not less than 90% in aggregate principal amount of the then outstanding Notes validly tender and do not validly withdraw such Notes in such offer and the
        Issuer, or any third party making such offer in lieu of the Issuer, purchases all of the Notes validly tendered and not validly withdrawn by such Holders, the Issuer or such third party shall have the right upon not less than 10 nor more than 60
        days’ prior notice, given not more than 60 days following such purchase date, to redeem all Notes of such series that remain outstanding following such purchase at a price equal to the price offered to each other Holder in such offer (which may be
        less than par) plus, to the extent not included in the offer payment, accrued and unpaid interest, if any, thereon, to, but excluding, the applicable date of redemption, subject to the right of Holders of record on the relevant record date to
        receive interest due on the relevant interest payment date falling prior to or on the applicable date of redemption.

     

    (e)          If the optional Redemption Date is
        on or after an interest record date and on or before the related interest payment date, the accrued and unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business, on such record date.  In the
        case of any partial redemption, the Trustee will select Notes for redemption by lot; provided that if the Notes are in global form, interests in such global Notes will be selected for redemption by Euroclear or Clearstream in accordance with its
        standard procedures therefor, although no Note of €100,000 in original principal amount or less will be redeemed in part. If any Note is to be redeemed in part only, the notice of redemption relating to such Note will state the portion of the
        principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original Note.

     

    
      A-9

      
        

    

    	6.	
            Notice of Optional Redemption

          

     

    Notice of redemption will be mailed by first-class mail and in the case of Notes held in book-entry form, by electronic transmission at least 10 days but
      not more than 60 days before the Redemption Date to each Holder of Notes to be redeemed at his or her registered address. Any notice to Holders of Notes of such a redemption pursuant to clause (c) in paragraph 5 needs to include the appropriate
      calculation of the redemption price, but does not need to include the redemption price itself.  Notes in denominations larger than €100,000 may be redeemed in part but only in whole multiples of €1,000. If money sufficient to pay the redemption price
      of and accrued interest on all Notes (or portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent on or before the Redemption Date, on and after such date interest ceases to accrue on such Notes (or such portions
      thereof) called for redemption.

     

    Any such redemption or notice of redemption issued pursuant to paragraph 5 may, in the Issuer’s discretion, be subject to one or more conditions
      precedent.

     

    	7.	
            Redemption for Tax Reasons

          

     

    The Issuer may, at its option, redeem the Notes, in whole but not in part, at a redemption price equal to 100% of the principal amount of the Notes to be
      redeemed, together with any accrued and unpaid interest thereon to, but excluding, the Redemption Date, at any time, if the Issuer has or, based upon a written opinion of independent tax counsel of nationally recognized standing selected by the
      Issuer, will become obliged to pay Additional Amounts with respect to the Notes as a result of any change in, or amendment to, the laws, regulations, treaties, or rulings of the Relevant Tax Jurisdiction or any political subdivision of or in the
      Relevant Tax Jurisdiction or any taxing authority thereof or therein affecting taxation, or any change in, or amendment to, the application, official interpretation, administration or enforcement of such laws, regulations, treaties or rulings
      (including a holding by a court of competent jurisdiction in the Relevant Tax Jurisdiction), which change or amendment is enacted, adopted, announced or becomes effective on or after the date of the Indenture.

     

    Notice of any redemption will be given pursuant to the procedures described under the provisions of Section 3.03 of the Indenture; provided that the notice of redemption shall not be given earlier than 90 days before the earliest date on which the Issuer would be obligated to pay such
      Additional Amounts on the Notes of the relevant series if a payment was then due.

     

    	8.	
            Sinking Fund

          

     

    The Notes are not subject to any sinking fund.

     

    	9.	
            Repurchase of Notes at the Option of Holders upon Change of Control

          

     

    Upon a Change of Control, any Holder of Notes will have the right, subject to certain conditions specified in the Indenture, to cause the Issuer to
      repurchase all or any part of the Notes of such Holder at a purchase price equal to 101% of the principal amount of the Notes to be repurchased plus accrued and unpaid interest, if any, to, but excluding, the date of purchase (subject to the right of
      Holders of record on the relevant record date to receive interest due on the relevant interest payment date) as provided in, and subject to the terms of, the Indenture.

     

    
      A-10

      
        

    

    	10.	
            Denominations; Transfer; Exchange

          

     

    The Notes are in registered form, without coupons, in denominations of €100,000 principal amount and integral multiples of €1,000 in excess thereof.  A
      Holder may transfer or exchange Notes in accordance with the Indenture.  Upon any transfer or exchange, the Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Issuer
      may require a Holder to pay any taxes required by law or permitted by the Indenture.  The Registrar or co-registrar shall not be required to register the transfer of or exchange of any Note for a period beginning 15 calendar days before (a) the
      record date for any payment of interest on the Notes, (b) any date fixed for redemption of the Notes or (c) the date fixed for selection of the Notes to be redeemed in part. Also, the Registrar or co-registrar shall not be required to register the
      transfer or exchange of any Notes (a) selected for redemption or (b) tendered (and not withdrawn) in connection with a Change of Control Offer, Asset Sale Offer, or other tender offer.

     

    	11.	
            Persons Deemed Owners

          

     

    The registered Holder of this Note may be treated as the owner of it for all purposes.

     

    	12.	
            Unclaimed Money

          

     

    Subject to any applicable abandoned property law, if money for the payment of principal or interest remains unclaimed for two years, the Trustee or
      Paying Agent shall pay the money back to the Issuer at its written request unless an abandoned property law designates another Person. After any such payment, Holders entitled to the money must look only to the Issuer and not to the Trustee for
      payment.

     

    	13.	
            Discharge and Defeasance

          

     

    Subject to certain conditions, the Issuer at any time may terminate some of or all its obligations under the Notes and the Indenture if the Issuer
      deposits with the Trustee money in euros, Euro Government Obligations or a combination thereof for the payment of principal of and interest (including premium, if any) on the Notes, in each case to redemption or maturity.

     

    	14.	
            Amendment, Waiver

          

     

    The Indenture and the Notes may be amended and supplemented as provided in the Indenture.

     

    
      A-11

      
        

    

    	15.	
            Defaults and Remedies

          

     

    If an Event of Default occurs and is continuing, the Trustee at the direction of the Holders of at least 30% in aggregate principal amount of Notes then
      outstanding, subject to certain limitations, may declare all the Notes to be immediately due and payable. Certain events of bankruptcy or insolvency are Events of Default and shall result in the Notes being immediately due and payable upon the
      occurrence of such Events of Default without any further act of the Trustee or any Holder.

     

    Holders of Notes may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the
      Notes unless it receives indemnity and/or security satisfactory to it. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Notes then outstanding may direct the Trustee in its exercise of any trust or power
      under the Indenture. The Holders of a majority in aggregate principal amount of the Notes then outstanding, by written notice to the Issuer and the Trustee, may rescind and annul any declaration of acceleration and its consequences except a Default
      in the payment of the principal of or interest on a Note or a Default in respect of a provision that under the Indenture cannot be amended without the consent of each Noteholder adversely affected.

     

    	16.	
            Trustee Dealings with the Issuer

          

     

    The Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with and
      collect obligations owed to it by the Issuer or its Affiliates and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Trustee.

     

    	17.	
            No Recourse Against Others

          

     

    No past, present or future director, officer, employee or shareholder, as such, of the Issuer or any Guarantor shall have any liability for any
      obligations of the Issuer or any Guarantor under the Notes, this Indenture or any Note Guaranty or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each Noteholder shall waive and release
      all such liability. The waiver and release shall be part of the consideration for the issue of the Notes.

     

    	18.	
            Authentication

          

     

    This Note shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) manually or electronically signs the certificate
      of authentication on the other side of this Note.

     

    	19.	
            Abbreviations

          

     

    Customary abbreviations may be used in the name of a Noteholder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the
      entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act).

     

    
      A-12

      
        

    

    	20.	
            Governing Law/Waiver of Trial by Jury; Submission to Jurisdiction

          

     

    THIS NOTE AND ANY CLAIM, CONTROVERSY OR DISPUTE RELATING TO OR ARISING OUT OF NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
      THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. EACH OF THE PARTIES HERETO AND EACH HOLDER OF NOTES BY ITS
      ACCEPTANCE THEREOF IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE OR THE TRANSACTIONS CONTEMPLATED HEREBY.

     

    The parties irrevocably submit to the non-exclusive jurisdiction of any New York State or federal court sitting in the Borough of Manhattan, City of New
      York, over any suit, action or proceeding arising out of or relating to this Indenture. To the fullest extent permitted by applicable law, the parties irrevocably waive and agree not to assert, by way of motion, as a defense or otherwise, any claim
      that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or
      proceeding brought in any such court has been brought in an inconvenient forum.

     

    	21.	
            ISINs; Common Codes

          

     

    The Issuer has caused ISINs and Common Codes to be printed on the Notes and has directed the Trustee to use ISINs and Common Codes in notices of
      redemption as a convenience to the Holders.  No representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification
      numbers printed thereon.

     

    The Issuer will furnish to any Holder of Notes upon written request and without charge to the Holder a copy of the Indenture which has
      in it the text of this Note.

     

    All capitalized terms used but not defined in this Note shall have the meanings assigned to them in the Indenture.

     

    
      A-13

      
        

    

    ENERGIZER GAMMA ACQUISITION B.V. 3.500% SENIOR NOTES DUE 2029

    ASSIGNMENT FORM

     

    To assign this Note, fill in the form below:

     

    I or we assign and transfer this Note to

     

    (Print or type assignee’s name, address and zip code)

     

    (Insert assignee’s soc. sec. or tax I.D. No.)

     

    and irrevocably appoint agent to transfer this Note on the books of the Issuer. The agent may substitute another to act for him.

     

    	
            Date:

          	 	 	
            Your Signature:

          	 
	 	 	 	 	
            Sign exactly as your name appears on the other side of this note

          

    

    

    In connection with any transfer of any of the Notes evidenced by this certificate occurring while this Note is a Transfer Restricted Note, the undersigned confirms that
      such Notes are being transferred in accordance with its terms:

     

    CHECK ONE BOX BELOW

     

    
      	
              (1)

            	
              ☐

            	
              To the Issuer; or

            
	 	 	 
	
              (2)

            	
              ☐

            	
              Pursuant to an effective registration statement under the Securities Act of 1933; or

            
	 	 	 
	
              (3)

            	
              ☐

            	
              Inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for
                the account of a qualified institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or

            
	 	 	 
	
              (4)

            	
              ☐

            	
              Outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities
                Act of 1933; or

            
	 	 	 
	
              (5)

            	
              ☐

            	
              Pursuant to another available exemption from registration provided by Rule 144 under the Securities Act of 1933.

            
	 	 	 
	
              (6)

            	
              ☐

            	
              Pursuant to another available exemption from registration requirements of the Securities Act of 1933.

            

    

     

    

    Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes evidenced by this certificate in the name of any person other than the registered
      Holder thereof; provided, however, that if box (4), (5) or (6) is
      checked, the Trustee or the Issuer may require, prior to registering any such transfer of the Notes, such legal opinions, certifications and other information as the Issuer has reasonably requested to confirm that such transfer is being made pursuant
      to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.

     

    
      A-14

      
        

    

    
      	
               

            	

            
	 	
              Your Signature

            

    

     

    
      	Signature Guarantee:	

            
	 	
              Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor acceptable to the Trustee

            

    

     

      	Date:	 	 	

            
	 

            	

            	

            	
              Signature of Signature Guarantee

            

    

    

    
      A-15

      
        

    

    TO BE COMPLETED BY PURCHASER IF (3) ABOVE IS CHECKED.

     

    The undersigned represents and warrants that it is purchasing this Note for its own account or an account with respect to which it exercises sole
      investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges
      that it has received such information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the undersigned’s foregoing
      representations in order to claim the exemption from registration provided by Rule 144A.

     

    
      	Date:	 	 	

            
	 

            	

            	

            	
              
                NOTICE: To be executed by an executive officer

              

            

    

    

    
      A-16

      
        

    

    [TO BE ATTACHED TO GLOBAL NOTES]

     

    SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

     

    The initial principal amount of this Global Note is €[             ]. The following increases or decreases in this Global Note have been made:

     

    	
            
              Date of Exchange

            

          	 	
            
              Amount of

               decrease in 

              Principal Amount

               of this Global

               Note

            

          	 	
            
              Amount of

               increase in 

              Principal Amount 

              of this Global 

              Note

            

          	 	
            
              Principal amount

               of this Global 

              Note following 

              such decrease or

               increase

            

          	 	
            
              Signature of

               authorized 

              signatory of 

              Trustee or Notes 

              Custodian

            

          
	 	 	 	 	 	 	 	 	 

    

    

    
      A-17

      
        

    

    ENERGIZER GAMMA ACQUISITION B.V. 3.500% SENIOR NOTES DUE 2029

    OPTION OF HOLDER TO ELECT PURCHASE

     

    If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.07 (Asset Sale) or Section 4.12 (Change of Control) of the
      Indenture, check the box: ☐

     

    If you want to elect to have only part of this Note purchased by the Issuer pursuant to Section 4.07 or Section 4.12 of the Indenture, state the amount:

     

    
      
        	
                $

              
	 	 	 	 
	Date:	 	 	

              
	 

              	

              	

              	
                
                  
                    (Sign exactly as your name appears on the other side of the Note) Signature Guarantee:

                  

                

              

      

    

    

    

    
      	
              
                Signature Guarantee: 

                

              

            	
               

            
	 	
              Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor acceptable to the Trustee

            

    

    

    
      
        	Date:	 	 	

              
	 

              	

              	

              	
                
                  
                    Signature of Signature Guarantee

                  

                

              

      

    

     

    
      A-18

      
        

    

    
    EXHIBIT B

     

    [FORM OF SUPPLEMENTAL INDENTURE FOR FUTURE GUARANTORS]

     

    SUPPLEMENTAL INDENTURE

     

    dated as of          ,

     

    among

     

    ENERGIZER GAMMA ACQUISITION B.V.

     

    The Guarantors Party Hereto

     

    and

     

    THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

     

    as Trustee

     

    3.500% Senior Notes due 2029

     

    
      B-1

      
        

    

    THIS SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”),
      entered into as of          , among ENERGIZER GAMMA ACQUISITION B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid)
      incorporated under the laws of The Netherlands (the “Issuer”), [insert each Guarantor executing this Supplemental Indenture and its jurisdiction of
      incorporation] (each an “Undersigned”) and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as trustee (the “Trustee”).

     

    RECITALS

     

    WHEREAS, the Issuer, the Guarantors party thereto and the Trustee entered into an Indenture, dated as of June 23, 2021 (the “Indenture”), relating to the Issuer’s 3.500% Senior Notes due 2029 (the “Notes”);

     

    WHEREAS, as a condition to the Trustee entering into the Indenture and the purchase of the Notes by the Holders, the Issuer agreed pursuant to the
      Indenture to cause any Domestic Restricted Subsidiary of the Issuer that is required to provide a guarantee or is a borrower under the Credit Agreement to provide a Note Guaranty.

     

    AGREEMENT

     

    NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and intending to be legally bound, the parties to this
      Supplemental Indenture hereby agree as follows:

     

    Section 1.          Capitalized terms used herein and not otherwise
        defined herein are used as defined in the Indenture.

     

    Section 2.          Each Undersigned, by its execution of this
        Supplemental Indenture, agrees to be a Guarantor under the Indenture and to be bound by the terms of the Indenture applicable to Guarantors, including, but not limited to, Article 10 thereof.

     

    Section 3.          This Supplemental Indenture shall be governed by
        and construed in accordance with the laws of the State of New York, but without giving effect to applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would be required thereby.

     

    Section 4.          This Supplemental Indenture may be signed in
        various counterparts which together will constitute one and the same instrument.  Delivery of an executed signature page by facsimile or electronic transmission (e.g. “pdf” or “tif”), or any electronic signature complying with the U.S. federal
        ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law, e.g., www.docusign.com, shall be effective as delivery of a manually executed counterpart hereof.

     

    Section 5.          This Supplemental Indenture is an amendment
        supplemental to the Indenture, and the Indenture and this Supplemental Indenture will henceforth be read together.

     

    
      B-2

      
        

    

    Section 6.          The recitals and statements herein are deemed to
        be those of the Issuer and the Undersigned and not the Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or the Guarantees provided by the
        Guarantors party to this Supplemental Indenture.

     

    Section 7.          The parties hereto (i) agrees that any suit,
        action or proceeding against it arising out of or relating to the Supplemental Indenture may be instituted in any U.S. federal or New York state court sitting in the Borough of Manhattan, New York City, New York, (ii) irrevocably submits to the
        non-exclusive jurisdiction of such courts in any suit, action or proceeding, (iii) waives, to the fullest extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any such suit, action or
        proceeding, any claim that any suit, action or proceeding in such a court has been brought in an inconvenient forum and any right to the jurisdiction of any other courts to which it may be entitled on account of place of residence or domicile, and
        (iv) agrees that final judgment in any such suit, action or proceeding brought in such a court shall be conclusive and binding and may be enforced in the courts of the jurisdiction of which it is subject by a suit upon judgment.

     

    Section 8.          All notices or other communications to the Issuer
        and the Guarantors shall be given as provided in Section 11.02 of the Indenture.

     

    
      B-3

      
        

    

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

     

    	

          	
            ENERGIZER GAMMA ACQUISITION B.V., as Issuer

          
	 	 
	

          	
            By:

          	 
	

          	 	
            Name:

          
	

          	 	
            Title:

          
	

          	 
	

          	
            [GUARANTOR(S)]

          
	 	 
	

          	
            By:

          	 
	

          	 	
            Name:

          
	

          	 	
            Title:

          

    

    

    	 	
            THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee

          
	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

     

    

    B-4

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