Document:

Form of Indenture for Subordinated Debt Securities

 Exhibit 4.5 
  
  
  
 NAVISTAR INTERNATIONAL
CORPORATION 
 and 
 THE GUARANTORS PARTY HERETO 
 to 
 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., 
 Trustee 
  
  
 INDENTURE 

  
  
 Dated as of
[                    ] 
 SUBORDINATED DEBT SECURITIES 
  
  
  

 NAVISTAR INTERNATIONAL CORPORATION 
 Certain Sections of this Indenture relating to Sections 310 through 318, inclusive, of the Trust Indenture Act of 1939 
  

			
	 Trust Indenture Act Section
	  	 Indenture Section

	Section 3.10(a)(1)	  	6.09
	(a)(2)	  	6.09
	(a)(3)	  	Not Applicable
	(a)(4)	  	Not Applicable
	(b)	  	6.08
	Section 3.11(a)	  	6.13
	(b)	  	6.13
	Section 3.12(a)	  	7.01, 7.02
	(b)	  	7.02
	(c)	  	7.02
	Section 3.13(a)	  	7.03
	(b)	  	7.03
	(c)	  	7.03
	(d)	  	7.03
	Section 3.14(a)	  	7.04
	(a)(4)	  	1.01
	(b)	  	Not Applicable
	(c)(1)	  	1.02
	(c)(2)	  	1.02
	(c)(3)	  	Not Applicable
	(d)	  	Not Applicable
	(e)	  	1.02
	Section 3.15(a)	  	6.01
	(b)	  	6.02
	(c)	  	6.01
	(d)	  	6.01
	(e)	  	5.13
	Section 3.16(a)	  	1.01
	(a)(1)(A)	  	5.02, 5.11
	(a)(1)(B)	  	5.12
	(a)(2)	  	Not Applicable
	(b)	  	Not Applicable
	(c)	  	1.04
	Section 3.17(a)(1)	  	5.03
	(a)(2)	  	5.04
	(b)	  	10.03
	Section 3.18(a)	  	1.07

 Note: This reconciliation and tie shall not, for any purpose, be deemed to be a part of the
Indenture. 
  

 i 

 Table of Contents 
  

					
	 	  	 	  	Page
	 ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	1
	 Section 1.01.
	  	Definitions	  	1
	 Section 1.02.
	  	Compliance Certificates and Opinions	  	10
	 Section 1.03.
	  	Form of Documents Delivered to Trustee	  	11
	 Section 1.04.
	  	Acts of Holders; Record Dates	  	11
	 Section 1.05.
	  	Notices, Etc., to Trustee, Company and Guarantors	  	13
	 Section 1.06.
	  	Notice to Holders; Waiver	  	14
	 Section 1.07.
	  	Conflict with Trust Indenture Act	  	14
	 Section 1.08.
	  	Effect of Headings and Table of Contents	  	14
	 Section 1.09.
	  	Successors and Assigns	  	14
	 Section 1.10.
	  	Separability Clause	  	14
	 Section 1.11.
	  	Benefits of Indenture	  	15
	 Section 1.12.
	  	Governing Law	  	15
	 Section 1.13.
	  	Legal Holidays	  	15
	 Section 1.14.
	  	No Adverse Interpretation of Other Agreements	  	15
	 Section 1.15.
	  	No Personal Liability of Directors, Officers, Employees and Stockholders	  	15
	 Section 1.16.
	  	Language of Notices, Etc.	  	15
	 Section 1.17.
	  	Force Majeure	  	15
	 Section 1.18.
	  	Waiver of Jury Trial	  	16
		
	 ARTICLE II SECURITY FORMS
	  	16
	 Section 2.01.
	  	Forms Generally	  	16
	 Section 2.02.
	  	Form of Face of Security	  	16
	 Section 2.03.
	  	Form of Reverse of Security	  	18
	 Section 2.04.
	  	Form of Legend for Global Securities	  	22
	 Section 2.05.
	  	Form of Trustee’s Certificate of Authentication	  	22
		
	 ARTICLE III THE SECURITIES
	  	22
	 Section 3.01.
	  	Amount Unlimited; Issuable in Series	  	22
	 Section 3.02.
	  	Denominations	  	26
	 Section 3.03.
	  	Execution, Authentication, Delivery and Dating	  	26
	 Section 3.04.
	  	Temporary Securities	  	28
	 Section 3.05.
	  	Registration, Registration of Transfer and Exchange	  	28
	 Section 3.06.
	  	Mutilated, Destroyed, Lost and Wrongfully Taken Securities	  	30
	 Section 3.07.
	  	Payment of Interest; Interest Rights Preserved	  	31
	 Section 3.08.
	  	Persons Deemed Owners	  	32
	 Section 3.09.
	  	Cancellation	  	32
	 Section 3.10.
	  	Computation of Interest	  	33
	 Section 3.11.
	  	CUSIP Numbers	  	33

  

 ii 

					
	 ARTICLE IV SATISFACTION AND DISCHARGE
	  	33
	 Section 4.01.
	  	Satisfaction and Discharge of Indenture	  	33
	 Section 4.02.
	  	Application of Trust Money	  	34
		
	 ARTICLE V REMEDIES
	  	35
	 Section 5.01.
	  	Events of Default	  	35
	 Section 5.02.
	  	Acceleration of Maturity; Rescission and Annulment	  	36
	 Section 5.03.
	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	37
	 Section 5.04.
	  	Trustee May File Proofs of Claim	  	37
	 Section 5.05.
	  	Trustee May Enforce Claims Without Possession of Securities	  	38
	 Section 5.06.
	  	Application of Money Collected	  	38
	 Section 5.07.
	  	Limitation on Suits	  	39
	 Section 5.08.
	  	Restoration of Rights and Remedies	  	39
	 Section 5.09.
	  	Rights and Remedies Cumulative	  	39
	 Section 5.10.
	  	Delay or Omission Not Waiver	  	39
	 Section 5.11.
	  	Control by Holders	  	40
	 Section 5.12.
	  	Waiver of Past Defaults	  	40
	 Section 5.13.
	  	Undertaking for Costs	  	40
	 Section 5.14.
	  	Waiver of Usury, Stay or Extension Laws	  	41
		
	 ARTICLE VI THE TRUSTEE
	  	41
	 Section 6.01.
	  	Certain Duties and Responsibilities	  	41
	 Section 6.02.
	  	Notice of Defaults	  	42
	 Section 6.03.
	  	Certain Rights of Trustee	  	42
	 Section 6.04.
	  	Not Responsible for Recitals or Issuance of Securities	  	44
	 Section 6.05.
	  	May Hold Securities	  	44
	 Section 6.06.
	  	Money Held in Trust	  	44
	 Section 6.07.
	  	Compensation and Reimbursement	  	44
	 Section 6.08.
	  	Conflicting Interests	  	45
	 Section 6.09.
	  	Corporate Trustee Required; Eligibility	  	45
	 Section 6.10.
	  	Resignation and Removal; Appointment of Successor	  	45
	 Section 6.11.
	  	Acceptance of Appointment by Successor	  	47
	 Section 6.12.
	  	Merger, Conversion, Consolidation or Succession to Business	  	48
	 Section 6.13.
	  	Preferential Collection of Claims Against Company	  	48
	 Section 6.14.
	  	Appointment of Authenticating Agent	  	48
		
	 ARTICLE VII HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	49
	 Section 7.01.
	  	Company to Furnish Trustee Names and Addresses of Holders	  	49
	 Section 7.02.
	  	Preservation of Information; Communications to Holders	  	50
	 Section 7.03.
	  	Reports by Trustee	  	50
	 Section 7.04.
	  	Reports by Company	  	50
		
	 ARTICLE VIII CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	  	51
	 Section 8.01.
	  	Company May Consolidate, Etc., Only on Certain Terms	  	51
	 Section 8.02.
	  	Successor Substituted	  	51

  

 iii 

					
	 ARTICLE IX SUPPLEMENTAL INDENTURES
	  	52
	 Section 9.01.
	  	Supplemental Indentures Without Consent of Holders	  	52
	 Section 9.02.
	  	Supplemental Indentures With Consent of Holders	  	53
	 Section 9.03.
	  	Execution of Supplemental Indentures	  	55
	 Section 9.04.
	  	Effect of Supplemental Indentures	  	55
	 Section 9.05.
	  	Conformity with Trust Indenture Act	  	55
	 Section 9.06.
	  	Reference in Securities to Supplemental Indentures	  	55
	 Section 9.07.
	  	Subordination Unimpaired	  	55
		
	 ARTICLE X COVENANTS
	  	56
	 Section 10.01.
	  	Payment of Principal, Premium and Interest	  	56
	 Section 10.02.
	  	Maintenance of Office or Agency	  	56
	 Section 10.03.
	  	Money for Securities Payments to Be Held in Trust	  	56
	 Section 10.04.
	  	Corporate Existence	  	57
	 Section 10.05.
	  	Statement by Officers as to Default	  	57
	 Section 10.06.
	  	Waiver of Certain Covenants	  	58
		
	 ARTICLE XI REDEMPTION OF SECURITIES
	  	58
	 Section 11.01.
	  	Applicability of Article	  	58
	 Section 11.02.
	  	Election to Redeem; Notice to Trustee	  	58
	 Section 11.03.
	  	Selection by Trustee of Securities to Be Redeemed	  	59
	 Section 11.04.
	  	Notice of Redemption	  	59
	 Section 11.05.
	  	Deposit of Redemption Price	  	60
	 Section 11.06.
	  	Securities Payable on Redemption Date	  	60
	 Section 11.07.
	  	Securities Redeemed in Part	  	61
		
	 ARTICLE XII DEFEASANCE AND COVENANT DEFEASANCE
	  	61
	 Section 12.01.
	  	Company’s Option to Effect Defeasance or Covenant Defeasance	  	61
	 Section 12.02.
	  	Defeasance and Discharge	  	61
	 Section 12.03.
	  	Covenant Defeasance	  	62
	 Section 12.04.
	  	Conditions to Defeasance or Covenant Defeasance	  	62
	 Section 12.05.
	  	Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions	  	64
	 Section 12.06.
	  	Reinstatement	  	64
		
	 ARTICLE XIII GUARANTEES
	  	65
	 Section 13.01.
	  	Guarantees	  	65
		
	 ARTICLE XIV SUBORDINATION OF SECURITIES
	  	68
	 Section 14.01.
	  	Securities Subordinate to Senior Debt	  	68
	 Section 14.02.
	  	Payment Over of Proceeds Upon Dissolution, Etc.	  	69
	 Section 14.03.
	  	Prior Payment to Senior Debt Upon Acceleration of Securities	  	70
	 Section 14.04.
	  	No Payment When Senior Debt in Default	  	70
	 Section 14.05.
	  	Payment Permitted in Certain Situations	  	71
	 Section 14.06.
	  	Subrogation to Rights of Holders of Senior Debt	  	71
	 Section 14.07.
	  	Provisions Solely to Define Relative Rights	  	72
	 Section 14.08.
	  	Trustee to Effectuate Subordination	  	72

  

 iv 

					
	 Section 14.09.
	  	No Waiver of Subordination Provisions	  	72
	 Section 14.10.
	  	Notice to Trustee	  	73
	 Section 14.11.
	  	Reliance on Judicial Order or Certificate of Liquidating Agent	  	73
	 Section 14.12.
	  	Trustee Not Fiduciary For Holders of Senior Debt	  	73
	 Section 14.13.
	  	Rights of Trustee as Holder of Senior Debt; Preservation of Trustees Rights	  	74
	 Section 14.14.
	  	Article Applicable to Paying Agents	  	74
		
	 ARTICLE XV SECURITY
	  	74
	 Section 15.01.
	  	Security	  	74

  

 v 

 INDENTURE, dated as of
[                    ], among NAVISTAR INTERNATIONAL CORPORATION, a corporation duly organized and existing under the laws of Delaware (herein called
the “Company”), having its principal office at 4201 Winfield Road, Warrenville, Illinois 60555, the Guarantors (as defined hereinafter), each having its principal office at 4201 Winfield Road, Warrenville, Illinois 60555, and
The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the “Trustee”). 
 RECITALS
OF THE COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance
from time to time of its subordinated secured or unsecured debentures, notes or other evidences of indebtedness (herein called the “Securities”) to be issued in one or more series as in this Indenture provided. 
 Each of the Initial Guarantors has duly authorized the execution and delivery of this Indenture to provide for the guarantee by such Initial
Guarantor of such series of Securities as to which such guarantee has been made applicable as provided herein. 
 All things
necessary to make this Indenture a valid agreement of the Company and of the Initial Guarantors in accordance with its terms have been done. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of
the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and proportionate benefit of all Holders of the Securities or of series thereof, as follows: 
 ARTICLE I 
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
 Section 1.01. Definitions. For all
purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms
defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular; 
 (2) all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP; 
 (4) unless the context otherwise requires, any reference to an “Article” or a “Section” refers to an Article or a
Section, as the case may be, of this Indenture; 
 (5) the words “herein”, “hereof”, “hereto” and
“hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; 

 (6) references to agreements and other instruments include subsequent amendments and
supplements thereto; 
 (7) when used with respect to any Security, the words “convert”, “converted” and
“conversion” are intended to refer to the right of the Holder or the Company to convert or exchange such Security into or for securities or other property in accordance with such terms, if any, as may hereafter be specified for such
Security as contemplated by Section 3.01, and these words are not intended to refer to any right of the Holder or the Company to exchange such Security for other Securities of the same series and like tenor pursuant to
Section 3.04, Section 3.05, Section 3.06, Section 9.06 or Section 11.07 or another similar provision of this Indenture, unless the context otherwise requires; and references herein to the
terms of any Security that may be converted mean such terms as may be specified for such Security as contemplated in Section 3.01; and 
 (8) unless the context otherwise requires, any reference to “duly provided for” and other words of similar import with respect to any amount or property required to be paid or delivered, as
applicable, shall include, without limitation, having made such amount or property available for payment or delivery. 
 “Act”, when used with respect to any Holder, has the meaning specified in Section 1.04. 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this
definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or
otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 
 “Applicable Procedures” of a Depositary means, with respect to any matter at any time, the policies and procedures of such Depositary, if any, that are applicable to such matter at such time. 
 “Authenticating Agent” means, when used with respect to Securities of any series, any Person authorized by the
Trustee to act on behalf of the Trustee to authenticate the Securities of such series. 
 “Board of
Directors” means either the board of directors of the Company or any duly authorized committee of that board. 
 “Board Resolution” means a copy of a resolution certified by an Officer of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and
delivered to the Trustee. Where any provision of this Indenture refers to action to be taken pursuant to a Board Resolution (including the establishment of any series of the Securities and the forms and terms thereof), such action may be taken by
any officer or employee of the Company authorized to take such action by the Board of Directors as evidenced by a Board Resolution. 
  

 2 

 “Business Day”, when used with respect to any Place of Payment,
means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of Payment are authorized or obligated by law or executive order to close; provided that, when used with respect to any
Security, “Business Day” may have such other meaning, if any, as may be specified for such Security as contemplated by Section 3.01. 
 “Capital Stock” means: 
 (1) in the case of
a corporation, corporate stock; 
 (2) in the case of a limited liability company or similar entity, any
membership or similar interests therein; 
 (3) in the case of an association or business entity, any and all
shares, interests, participations, rights or other equivalents (however designated) of corporate stock; 
 (4) in
the case of a partnership, partnership interests (whether general or limited); and 
 (5) any other interest or
participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 
 “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this
instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 
 “Company” means the Person named as the “Company” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable
provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 
 “Company
Request” or “Company Order” means a written request or order signed in the name of the Company by any Officer of the Company, or any other officer or officers of the Company designated in writing by or pursuant to authority of
the Board of Directors and delivered to the Trustee from time to time. 
 “Corporate Trust Office” means
the designated office of the Trustee in [            ] at which at any particular time its corporate trust business shall be administered and which, at the date hereof, is located at
[            ], Attention: [            ] or at such other address as the Trustee may designate from time to time
by notice to the Holders and the Company, or the principal corporate trust office of any successor Trustee. 
 “corporation” means a corporation, association, company (including a limited liability company), joint-stock company, business trust or other similar entity. 
 “Covenant Defeasance” has the meaning specified in Section 12.03. 
  

 3 

 “Credit Agreement” means the credit agreement dated as of
            ,         , among the Company, the financial institutions party thereto as lenders, and
            , as administrative agent, together with related documents thereto including any guarantee agreements and security documents, as amended, modified supplemented, restated,
renewed, refunded, replaced, restructured repaid or refinanced from time to time (including any agreement extending the maturity thereof or increasing the amount of available borrowings thereunder or adding entities as additional borrowers or
guarantors thereunder) whether with the original agents and lenders or otherwise and whether provided under the original credit agreement or other credit agreements or otherwise. 
 “Defaulted Interest” has the meaning specified in Section 3.07. 
 “Defeasance” has the meaning specified in Section 12.02. 
 “Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or more
Global Securities, a clearing agency that is designated to act as depositary for such Securities as contemplated by Section 3.01. 
 “DTC” has the meaning specified in Section 1.04. 
 “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 
 “Event of Default” has the meaning specified in Section 5.01. 
 “Exchange Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in each case as amended
from time to time. 
 “Expiration Date” has the meaning specified in Section 1.04.

 “GAAP” means, at any time, (i) 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 or in such other statements by such other entity
as have been approved by a significant segment of the accounting profession in the United States or (ii) if at such time the Company is required to prepare its financial statements for reports filed with the Commission under Section 13 or
15(d) of the Exchange Act pursuant to standards other than those specified in clause (i) (which may include International Financial Reporting Standards), such other standards, in each case which are in effect at such time. 
 “Global Security” means a Security that evidences all or part of the Securities of any series and bears the legend
set forth in Section 2.04 (or such legend as may be specified as contemplated by Section 3.01 for such Securities). 
 “Guarantee” means a guarantee of any Securities by a Guarantor as contemplated by Article XIII; provided that the term “Guarantee,” when used with respect to any
Security or with respect to the Securities of any series, means a guarantee of such Security or of the Securities of such series, respectively, by a Guarantor of such Security or of the Securities of such series, respectively, as contemplated by
Article XIII. 
  

 4 

 “Guarantor” means each of the Initial Guarantors and any other
Person who shall have become a Guarantor under this Indenture pursuant to Section 9.01 hereof, in each case unless and until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, at which time
references to such Guarantor shall mean such successor Person; provided that the term “Guarantor,” when used, with respect to the Securities of any series, means the Persons who shall from time to time be the guarantors of Securities of
such series as contemplated by Article XIII. 
 “Guarantor’s Board of Directors” means, with
respect to any Guarantor, either the board of directors of such Guarantor or any duly authorized committee of that board or similar governing body. 
 “Guarantor’s Board Resolution” means, with respect to any Guarantor, a copy of a resolution certified by an Officer of such Guarantor to have been duly adopted by such
Guarantor’s Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. Where any provision of this Indenture refers to action to be taken pursuant to a Guarantor’s Board
Resolution, such action may be taken by any officer or employee of such Guarantor authorized to take such action by such Guarantor’s Board of Directors as evidenced by a Guarantor’s Board Resolution. 
 “Holder” means a Person in whose name a Security is registered in the Security Register. 
 “Indebtedness” means, with respect to any Person, without duplication, any indebtedness of such Person, whether or
not contingent: (i) in respect of borrowed money; (ii) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof); (iii) in respect of banker’s acceptances;
(iv) representing capital lease obligations; (v) in respect of any guarantee by such Person of production or payment with respect to a production payment recorded as a liability or deferred revenue in accordance with GAAP;
(vi) representing the balance deferred and unpaid of the purchase price of any property, except any such balance that constitutes an accrued expense or trade payable; or (vii) representing any hedging obligation, if and to the extent any
of the foregoing indebtedness (other than letters of credit and hedging obligations) would appear as a liability upon a balance sheet of such Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes
(x) all indebtedness of any other Person, of the types described above in clauses (i) through (vii), secured by a lien on any asset of such Person (whether or not such indebtedness is assumed by such Person), and (y) to the extent not
otherwise included, the guarantee by such Person of any indebtedness of any other Person of the types described above in clauses (i) through (vii). Notwithstanding the foregoing, the following shall not constitute “Indebtedness”:
(a) accrued expenses and trade accounts payable arising in the ordinary course of business; (b) any obligation in respect of any production payment recorded as a liability or deferred revenue in accordance with GAAP; (c) any
indebtedness which has been defeased in accordance with GAAP or defeased pursuant to the deposit of cash or government securities (in an amount sufficient to satisfy all such indebtedness obligations at maturity or redemption, as applicable, and all
payments of interest and premium, if any) in a trust or account created or

  

 5 

 
pledged for the sole benefit of the holders of such indebtedness, and subject to no other liens, and the other applicable terms of the instrument governing such indebtedness; (d) any
obligations in respect of completion bonds, performance bonds, bid bonds, appeal bonds, surety bonds, bankers acceptances, letters of credit, insurance obligations or bonds and other similar bonds and obligations incurred in the ordinary course of
business and any guaranties or letters of credit functioning as or supporting any of the foregoing bonds or obligations; (e) any obligation arising from the honoring by a bank or other financial institution of a check, draft or similar
instrument drawn against insufficient funds in the ordinary course of business (provided, however, that such obligation is extinguished within five business days of its incurrence); (f) any obligation arising from any agreement providing for
indemnities, guarantees, purchase price adjustments, holdbacks, contingency payment obligations based on the performance of the acquired or disposed assets or similar obligations (other than guarantees of Indebtedness) incurred by any Person in
connection with the acquisition or disposition of assets; and (h) any obligation in respect of operating agreements, joint venture agreements, partnership agreements, assignments, purchase and sale agreements, royalties, joint interest billing
arrangements, net profits interests, participation agreements, subleases, licenses or subleases and other agreements similar to any of the foregoing that are customary in the transportation industry. 
 “Indenture” means this instrument as originally executed and as it may from time to time be supplemented or amended
by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to
be a part of and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of any particular series or specific Securities within a series and of any Guarantees
thereof established as contemplated by Section 3.01. 
 “interest”, when used with respect
to an Original Issue Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity. 
 “Initial Guarantor” or “Initial Guarantors” means Navistar, Inc. 
 “Interest Payment Date”, when used with respect to any Security, means the Stated Maturity of an installment of interest on such Security. 
 “Maturity”, when used with respect to any Security, means the date on which the principal of such Security or an
installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 
 “Notice of Default” means a written notice of the kind specified in Section 5.01(3). 
 “Officer” means a Chairman of the Board, a Chief Executive Officer, a Chief Financial Officer, a President, a Vice
President, a Treasurer, an Assistant Treasurer, a Secretary or an Assistant Secretary of the Company or a Guarantor, as applicable. 
 “Officers’ Certificate” means a certificate signed by any two Officers of the Company, or any other officer or officers of the Company designated in a writing by or pursuant to authority of the Board of
Directors and delivered to the Trustee from time to time. 
  

 6 

 “Opinion of Counsel” means a written opinion of counsel, who may be
an employee of or counsel for the Company or a Guarantor. 
 “Original Issue Discount Security” means
any Security which provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02. 
 “Outstanding”, when used with respect to Securities, means, as of the date of determination, all Securities
theretofore authenticated and delivered under this Indenture, except: 
 (1) Securities theretofore canceled by the Trustee or
delivered to the Trustee for cancellation; 
 (2) Securities for whose payment or redemption money in the necessary amount has
been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities; provided
that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; 
 (3) Securities as to which Defeasance has been effected pursuant to Section 12.02; 
 (4) Securities which have been paid pursuant to Section 3.06 or in exchange for or in lieu of which other Securities have been
authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a protected purchaser in whose hands
such Securities are valid obligations of the Company; and 
 (5) Securities as to which any property deliverable upon conversion
thereof has been delivered (or such delivery has been duly provided for), or as to which any other particular conditions have been satisfied, in each case as may be provided for such Securities as contemplated in Section 3.01;

 provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have
given, made or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original Issue Discount Security which shall be deemed to be Outstanding shall
be the amount of the principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 5.02, (B) if, as of such date, the principal amount payable at the
Stated Maturity of a Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by Section 3.01, (C) the principal
amount of a Security denominated in one or more foreign currencies, composite currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in the manner provided as contemplated
by Section 3.01, of the principal amount of such Security (or, in the case of a Security described in Clause (A) or (B) above, of the amount determined as provided in such Clause), and (D) Securities owned by the Company,
any Guarantor of the Securities or any other obligor upon the Securities or any Affiliate of the

  

 7 

 
Company or any such Guarantor or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon
any such request, demand, authorization, direction, notice, consent, waiver or other action, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities so owned which have been
pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any Guarantor of such
Securities or any other obligor upon the Securities or any Affiliate of the Company or a Guarantor of the Securities or such other obligor. 
 “Paying Agent” means any Person authorized by the Company to pay the principal of or any premium or interest on any Securities on behalf of the Company. 
 “Person” means any individual, corporation, partnership, joint venture, trust, unincorporated organization or
government or any agency or political subdivision thereof. 
 “Place of Payment”, when used with respect
to the Securities of any series and subject to Section 10.02, means the place or places where the principal of and any premium and interest on the Securities of that series are payable as specified as contemplated by
Section 3.01. 
 “Predecessor Security” of any particular Security means every previous
Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.06 in exchange for or in lieu of a
mutilated, destroyed, lost or wrongfully taken Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or wrongfully taken Security. 
 “Redemption Date”, when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption Price”, when used with respect to any Security to be redeemed, means the price at which it is to be
redeemed pursuant to this Indenture. 
 “Regular Record Date” for the interest payable on any Interest
Payment Date on the Securities of any series means the date specified for that purpose as contemplated by Section 3.01. 
 “Responsible Officer”, when used with respect to the Trustee, means any officer of the Trustee within the corporate trust department, including any Vice President, assistant secretary, assistant treasurer, assistant
cashier, trust officer, assistant trust officer or assistant controller assigned to the Corporate Trust Office, or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers
and also means, with respect to a particular corporate trust matter, any other officer of the Trustee to whom such matter is referred because of his knowledge of and familiarity with the particular subject, and who shall have direct responsibility
for the administration of this Indenture. 
 “Securities” has the meaning stated in the first recital of
this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 
  

 8 

 “Securities Act” means the Securities Act of 1933 and any statute
successor thereto, in each case as amended from time to time. 
 “Security Register” and
“Security Registrar” have the respective meanings specified in Section 3.05. 
 “Senior Debt” means: (a) indebtedness of the Company under or in respect of the Credit Agreement, whether for principal, interest (including interest accruing after the filing of a petition initiating any
proceeding pursuant to any bankruptcy law, whether or not the claim for such interest is allowed as a claim in such proceeding), reimbursement obligations, fees, commissions, expenses, indemnities or other amounts; and (b) any other
Indebtedness permitted under the terms of this Indenture, unless the instrument under which such Indebtedness is incurred expressly provides that it is on a parity with or subordinated in right of payment to the Securities. Notwithstanding the
foregoing, “Senior Debt” will not include: (i) Equity Interests; (ii) any liability for federal, state, local or other taxes due or owed by the Company; (iii) any Indebtedness of the Company to any of its Subsidiaries or
Affiliates; (iv) any trade payables; or (v) any Indebtedness that is incurred in violation of this Indenture. 
 “Senior Guarantor Debt” means, with respect to any Guarantor: (a) indebtedness of such Guarantor under or in respect of the Credit Agreement, whether for principal, interest (including interest accruing after
the filing of a petition initiating any proceeding pursuant to any bankruptcy law, whether or not the claim for such interest is allowed as a claim in such proceeding), reimbursement obligations, fees, commissions, expenses, indemnities or other
amounts; and (b) any other Indebtedness permitted under the terms of this Indenture, unless the instrument under which such Indebtedness is incurred expressly provides that it is on a parity with or subordinated in right of payment to such
Guarantor’s Guarantee of the Securities. Notwithstanding the foregoing, “Senior Guarantor Debt” will not include: (i) Equity Interests; (ii) any liability for federal, state, local or other taxes due or owed by such
Guarantor; (iii) any Indebtedness of such Guarantor to any of its Subsidiaries or Affiliates; (iv) any trade payables; or (v) any Indebtedness that is incurred in violation of this Indenture. 
 “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to
Section 3.07. 
 “Stated Maturity”, when used with respect to any Security or any
installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 
 “Subsidiary” means any Person a majority of the combined voting power of the total outstanding ownership interests
in which is, at the time of determination, beneficially owned or held, directly or indirectly, by the Company or one or more other Subsidiaries. For this purpose, “voting power” means power to vote in an ordinary election of directors (or,
in the case of a Person that is not a corporation, ordinarily to appoint or approve the appointment of Persons holding similar positions), whether at all times or only as long as no senior class of ownership interests has such voting power by reason
of any contingency. 
  

 9 

 “Trustee” means the Person named as the “Trustee” in the
first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if
at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of which this instrument was
executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended.

 “Uniform Commercial Code” means the Uniform Commercial Code in effect in the State of Delaware or the
State of New York, as applicable, in each case as amended from time to time. 
 “U.S. Government
Obligation” has the meaning specified in Section 12.04. 
 “Vice President”,
when used with respect to the Company, any Guarantor or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title “vice president.” 
 Section 1.02. Compliance Certificates and Opinions. Upon any application or request by the Company to the Trustee to take any
action under any provision of this Indenture, the Company shall furnish to the Trustee such certificates and opinions as may be required under the Trust Indenture Act; provided, however, that no such opinion shall be required in
connection with the issuance of Securities that are part of any series as to which such an opinion has been furnished. Each such certificate or opinion shall be given in the form of an Officers’ Certificate, if to be given by an Officer of the
Company, or an Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture. 
 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include:

 (1) a statement that each individual signing such certificate or opinion has read such covenant or condition and the
definitions herein relating thereto; 
 (2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a statement that, in the
opinion of each such individual, he or she has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (4) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 
  

 10 

 Section 1.03. Form of Documents Delivered to Trustee. In any case where several
matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by
only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several
documents. 
 Any certificate or opinion of an Officer of the Company or a Guarantor may be based, insofar as it relates to
legal matters, upon a certificate or opinion of, or representations by, counsel, unless such Officer knows that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous.
Any such certificate or opinion of, or representation by, counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an Officer or Officers of the Company or such Guarantor, as the case
may be, stating that the information with respect to such factual matters is in the possession of the Company or such Guarantor, as the case may be, unless such counsel knows that the certificate or opinion or representations with respect to such
matters are erroneous. 
 Where any Person is required to make, give or execute two or more applications, requests, consents,
certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 Section 1.04. Acts of Holders; Record Dates. Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or
taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent or agents duly appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company and any Guarantor. Such instrument or instruments (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose
of this Indenture and (subject to Section 6.01) conclusive in favor of the Trustee, the Company and any Guarantor, if made in the manner provided in this Section. 
 Without limiting the generality of this Section, unless otherwise provided in or pursuant to this Indenture, (i) a Holder, including a
Depositary or its nominee that is a Holder of a Global Security, may give, make or take, by an agent or agents duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted in
or pursuant to this Indenture to be given, made or taken by Holders, and a Depositary or its nominee that is a Holder of a Global Security may duly appoint in writing as its agent or agents members of, or participants in, such Depositary holding
interests in such Global Security in the records of such Depositary; and (ii) with respect to any Global Security the Depositary for which is The Depository Trust Company (“DTC”), any consent or other action given, made
or taken by an “agent member” of DTC by electronic means in accordance with the Automated Tender Offer Procedures system or other Applicable Procedures of, and pursuant to authorization by, DTC

  

 11 

 
shall be deemed to constitute the “Act” of the Holder of such Global Security, and such Act shall be deemed to have been delivered to the Company, any Guarantor and the Trustee upon the
delivery by DTC of an “ agent’s message” or other notice of such consent or other action having been so given, made or taken in accordance with the Applicable Procedures of DTC. 
 The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of
the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 
 The ownership of
Securities shall be proved by the Security Register. 
 Any request, demand, authorization, direction, notice, consent, waiver
or other Act of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done,
omitted or suffered to be done by the Trustee or the Company or any Guarantor in reliance thereon, whether or not notation of such action is made upon such Security. 
 The Company and any Guarantor may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to give, make or take any request, demand,
authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders of Securities of such series, provided that neither the Company nor such Guarantor may set a record date
for, and the provisions of this paragraph shall not apply with respect to, the giving, making or taking of any notice, declaration, request or direction referred to in the next paragraph. If any record date is set pursuant to this paragraph, the
Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to give, make or take the relevant action, whether or not such Holders remain Holders after such record date; provided,
however, that no such action shall be effective hereunder unless given, made or taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date.
Nothing in this paragraph shall be construed to prevent the Company or any Guarantor from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set
shall automatically and with no action by any Person be canceled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action given, made or taken by Holders of the requisite principal amount of Outstanding
Securities of the relevant series on the date such action is given, made or taken. Promptly after any record date is set pursuant to this paragraph, the Company or such Guarantor, as the case may be, at its own expense, shall cause notice of such
record date, the proposed action by Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 1.05 and
Section 1.06. 
  

 12 

 The Trustee may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to join in the giving, making or taking of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 5.02, (iii) any request to institute
proceedings referred to in Section 5.07(2) or (iv) any direction referred to in Section 5.11, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of
Outstanding Securities of such series on such record date, and no other Holders, shall be entitled to give, make or take such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date;
provided, however, that no such action shall be effective hereunder unless given, made or taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such
record date. Nothing in this paragraph shall be construed to prevent the Trustee from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall
automatically and with no action by any Person be canceled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action given, made or taken by Holders of the requisite principal amount of Outstanding
Securities of the relevant series on the date such action is given, made or taken. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed
action by Holders and the applicable Expiration Date to be given to the Company and any Guarantor in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 1.05 and Section 1.06.

 With respect to any record date set pursuant to this Section, the party hereto which sets such record date may designate any
day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided that no such change shall be effective unless notice of the proposed new Expiration Date is given to the
other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 1.06, on or prior to the existing Expiration Date. If an Expiration Date is not designated with respect to any
record date set pursuant to this Section, the party hereto which set such record date shall be deemed to have initially designated the 180th day after such record date as the Expiration Date with respect thereto, subject to its right to change the
Expiration Date to an earlier day as provided in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be later than the 180th day after the applicable record date. 
 Without limiting the foregoing, a Holder entitled hereunder to give, make or take any action hereunder with regard to any particular
Security may do so, in person or by an agent duly appointed in writing, with regard to all or any part of the principal amount of such Security. 
 Section 1.05. Notices, Etc., to Trustee, Company and Guarantors. Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or
permitted by this Indenture to be made upon, given or furnished to, or filed with, (1) the Trustee by any Holder or by the Company or any Guarantor shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing
(which may be by facsimile transmission) to or with the Trustee at [            ], Attention: [            ],
facsimile: [            ] or any other address previously furnished in writing to the Company and the Holders by the Trustee or (2) the Company or a Guarantor by the Trustee or
by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in

  

 13 

 
writing and mailed, first-class postage prepaid, to the Company or such Guarantor, as the case may be, addressed to it at the address of its principal office specified in the first paragraph of
this instrument or at any other address previously furnished in writing to the Trustee by the Company. 
 Section 1.06.
Notice to Holders; Waiver. Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each
Holder affected by such event, at his address as it appears in the Security Register, not later than the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice. In any case where notice to
Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice
in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 
 In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a
sufficient notification for every purpose hereunder. 
 Where this Indenture provides for notice of any event to a Holder of a
Global Security, such notice shall be sufficiently given if given to the Depositary for such Security (or its designee), pursuant to its Applicable Procedures, not later than the latest date (if any), and not earlier than the earliest date (if any),
prescribed for the giving of such notice. 
 Section 1.07. Conflict with Trust Indenture Act. If any provision
hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act which is required under such Act to be a part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes
any provision of the Trust Indenture Act which may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be. 
 Section 1.08. Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are
for convenience only and shall not affect the construction hereof. 
 Section 1.09. Successors and Assigns. All
covenants and agreements in this Indenture by the Company and any Guarantor shall bind their respective successors and assigns, whether so expressed or not. 
 Section 1.10. Separability Clause. In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby. 
  

 14 

 Section 1.11. Benefits of Indenture. Nothing in this Indenture or in the
Securities, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, the holders of Senior Debt and any Senior Guarantor Debt and the Holders, any benefit or any legal or equitable right, remedy or
claim under this Indenture, except as may otherwise be provided pursuant to Section 3.01 with respect to any Securities of a particular series or under this Indenture with respect to such Securities. 
 Section 1.12. Governing Law. This Indenture, the Guarantees and the Securities and the rights and obligations of the parties
hereto and thereto, including the interpretation, construction, validity and enforceability thereof, shall be governed by and construed and interpreted in accordance with the law of the State of New York, without regard to conflicts of laws
principles thereof 
 Section 1.13. Legal Holidays. In any case where any Interest Payment Date, Redemption Date or
Maturity of any Security, or any date on which a Holder has the right to convert his Security, shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities (other than a
provision of any Security which specifically states that such provision shall apply in lieu of this Section)) payment of interest or principal (and premium, if any), or conversion of such Security need not be made at such Place of Payment on such
date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Maturity, or on such date for conversion, as the case may be.

 Section 1.14. No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret any
other indenture, loan or other agreement of the Company or any Guarantor or any Subsidiaries of any thereof or of any other Person. Any such indenture, loan or other agreement may not be used to interpret this Indenture. 
 Section 1.15. No Personal Liability of Directors, Officers, Employees and Stockholders. No past, present or future director,
officer, employee, incorporator or stockholder of the Company or any Guarantor, as such, will have any liability for any obligations of the Company or any Guarantor, respectively, under the Securities or this Indenture or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. The
waiver may not be effective to waive liabilities under the federal securities laws. 
 Section 1.16. Language of
Notices, Etc. Any request, demand, authorization, direction, notice, consent, waiver, other action or Act provided or permitted under this Indenture shall be in the English language, except that any published notice may be in an official
language of the country of publication. 
 Section 1.17. Force Majeure. Subject to Section 6.01, 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 
  

 15 

 
malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts that are consistent with accepted
practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 Section 1.18.
Waiver of Jury Trial. EACH OF THE COMPANY, EACH GUARANTOR AND THE TRUSTEE HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING
OUT OF, UNDER OR IN CONNECTION WITH THIS INDENTURE. 
 ARTICLE II 
 SECURITY FORMS 
 Section 2.01. Forms
Generally. The Securities of each series shall be in substantially the form set forth in this Article, or in such other form as shall be established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, and, if
the Securities of such series are to be guaranteed by the Guarantees of any Guarantor as provided in Section 3.01 and the terms of such Securities provide for the endorsement thereon or attachment thereto of Guarantees by such Guarantor,
such Guarantees to be endorsed on or attached to such Securities shall be in substantially such form as shall be established by or pursuant to a Guarantor’s Board Resolution of such Guarantor or in one or more indentures supplemental hereto, in
each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed
thereon as may be required to comply with the rules of any securities exchange or Depositary therefor or as may, consistently herewith, be determined by the officers executing such Securities or Guarantees, respectively, as evidenced by their
execution thereof. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and
delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 3.03 for the authentication and delivery of such Securities. For purposes hereof, a Guarantee that is endorsed on, or otherwise attached
to, a Security shall be deemed “endorsed” on such Security. 
 Anything herein to the contrary notwithstanding, there
shall be no requirement that any Security have endorsed thereon or attached thereto a Guarantee or a notation of a Guarantee, but such a Guarantee or notation of a Guarantee may be endorsed thereon or attached thereto as contemplated by this
Section 2.01. 
 Section 2.02. Form of Face of Security. 
 [Insert any legend required by the Internal Revenue Code and the regulations thereunder.] 
 NAVISTAR INTERNATIONAL CORPORATION 
  

					
	No	  	$	  	                                        
                                CUSIP No.

  

 16 

 NAVISTAR INTERNATIONAL CORPORATION, a corporation duly organized and existing under the laws of Delaware
(herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
            , or registered assigns, the principal sum of              Dollars on
             [if the Security is to bear interest prior to Maturity, insert — , and to pay interest thereon from
             or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on
             and              in each year, commencing
            , and at the Maturity thereof, at the rate of             % per annum, until the principal hereof is
paid or made available for payment [if applicable, insert —, provided that any premium, and any such installment of interest, which is overdue shall bear interest at the rate of
            % per annum (to the extent that the payment of such interest shall be legally enforceable), from the date such overdue amount is due until such amount is paid or duly
provided for, and such interest on any overdue amount shall be payable on demand]. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the              or
             (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest so payable, but not punctually paid or duly provided
for, will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record
Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid in any other lawful manner not
inconsistent with the requirements of any securities exchange on which this Security may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture]. 
 [If the Security is not to bear interest prior to Maturity, insert — The principal of this Security shall not bear interest except in
the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal and any overdue premium shall bear interest at the rate of
            % per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for
payment. Interest on any overdue principal or premium shall be payable on demand.] 
 Payment of the principal of (and premium,
if any) and [if applicable, insert — any such] interest on this Security will be made at the office or agency of the Company maintained for that purpose in New York, New York, in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts, against surrender of this Security in the case of any payment due at the Maturity of the principal thereof or any payment of interest becomes payable on a day other than an
Interest Payment Date; provided, however, that if this Security is not a Global Security, (i) payment of interest on an Interest Payment Date will be made by check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register; and all other payments will be made by check against surrender of this Security; (ii) all payments by check will be made in next-day funds (i.e., funds that become available on the day after the check is
cashed); and (iii) notwithstanding clauses (i) and (ii) above, with respect to any payment of any amount due on this Security, if this

  

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Security is in a denomination of at least $1,000,000 and the Holder hereof at the time of surrender hereof or, in the case of any payment of interest on any Interest Payment Date, the Holder
thereof on the related Regular Record Date delivers a written request to the Paying Agent to make such payment by wire transfer at least five Business Days before the date such payment becomes due, together with appropriate wire transfer
instructions specifying an account at a bank in New York, New York, the Company shall make such payment by wire transfer of immediately available funds to such account at such bank in New York City, any such wire instructions, once properly given by
a Holder as to this Security, remaining in effect as to such Holder and this Security unless and until new instructions are given in the manner described above and provided further, that notwithstanding anything in the foregoing to the contrary, if
this Security is a Global Security, payment shall be made pursuant to the Applicable Procedures of the Depositary as permitted in said Indenture. Any interest shall be computed on the basis of a 360-day year of twelve 30-day months. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been
executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 
  

			
	NAVISTAR INTERNATIONAL CORPORATION
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 Section 2.03. Form of Reverse of Security. This Security is one of a duly
authorized issue of senior securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of
[            ] (herein called the “Indenture”, which term shall have the meaning assigned to it in such instrument), among the Company, the Guarantors and
[Trustee], as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of
rights, duties and immunities thereunder of the Company, the Guarantors, the Trustee, the holders of Senior Debt [if applicable, insert — and any Senior Guarantor Debt] and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof [if applicable, insert — limited in aggregate principal amount to
$            ]. 
 This Security is the general, [unsecured,]
senior obligation of the Company [if applicable, insert—and is guaranteed pursuant to a guarantee (the “Guarantee”) by [insert name of each Guarantor] (the “Guarantors”). The Guarantee by each
Guarantee is the general, [unsecured,] senior obligation of such Guarantor]. 
  

 18 

 [If applicable, insert — The Securities of this series are subject to redemption upon
not less than 30 days’ nor more than 60 days’ notice, at any time [if applicable, insert — on or after             , 20__], as a whole or in part, at the election of
the Company, at the following Redemption Prices (expressed as percentages of the principal amount): If redeemed [if applicable, insert — on or before             ,
            %, and if redeemed] during the 12-month period beginning              of the years indicated,

  

							
	 Year
	 	 Redemption Price
	 	 Year
	 	 Redemption Price

 and thereafter at a Redemption Price equal to % of the principal amount, together in the case of any
such redemption with accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record
at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.] 
 [If
the Security is subject to redemption of any kind, insert — In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of
the Holder hereof upon the cancellation hereof.] 
 The indebtedness evidenced by this Security is, to the extent provided in
the Indenture, subordinate and subject in right of payment to the prior payment in full of all Senior Debt [if applicable, insert — and the Guarantees by the Guarantors are, to the extent provided in the Indenture, subordinate and subject in
right of payment to the prior payment in full of all Senior Guarantor Debt], and this Security is issued subject to the provisions of the Indenture with respect thereto. Each Holder of this Security, by accepting the same, (a) agrees to and
shall be bound by such provisions, (b) authorizes and directs the Trustee on his or her behalf to take such actions as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints the Trustee his or her
attorney-in-fact for any and all such purposes. Each Holder hereof, by his or her acceptance hereof, waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior Debt [if
applicable, insert — or Senior Guarantor Debt], whether now outstanding or hereafter created, incurred, assumed or guaranteed, and waives reliance by each such holder upon said provisions. 
 [If applicable, insert — The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or
certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture.] 
 [If the Security is not an Original Issue Discount Security, insert — If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities
of this series may be declared due and payable in the manner and with the effect provided in the Indenture.] 
  

 19 

 [If the Security is an Original Issue Discount Security, insert — If an Event of
Default with respect to Securities of this series shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Such amount shall
be equal to — insert formula for determining the amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal, premium and interest (in each case to the extent that the
payment of such interest shall be legally enforceable), all of the Company’s obligations in respect of the payment of the principal of and premium and interest, if any, on the Securities of this series shall terminate.] 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company [if applicable, insert—and the Guarantors] and the rights of the Holders of the Securities to be affected under the Indenture at any time by the Company [if applicable, insert—and the Guarantors] and the Trustee with the
consent of the Holders of a majority in principal amount (including consents obtained in connection with a purchase of, or tender offer or exchange offer for, Securities) of all Securities at the time Outstanding to be affected (considered together
as one class for this purpose and such Securities to be affected potentially being Securities of the same or different series and, with respect to any series, potentially comprising fewer than all the Securities of such series), except as may
otherwise be provided pursuant to the Indenture for all or any specific Securities of any series. The Indenture also contains provisions (i) permitting the Holders of a majority in principal amount (including waivers obtained in connection with
a purchase of, or tender offer or exchange offer for, Securities) of the Securities at the time Outstanding to be affected under the Indenture (considered together as one class for this purpose and such affected Securities potentially being
Securities of the same or different series and, with respect to any particular series, potentially comprising fewer than all the Securities of such series), on behalf of the Holders of all Securities so affected, to waive compliance by the Company
[if applicable, insert—and the Guarantors] with certain provisions of the Indenture and (ii) permitting the Holders of a majority in principal amount (including waivers obtained in connection with a purchase of, or tender offer or exchange
offer for, Securities) of the Securities at the time Outstanding of any series to be affected under the Indenture (with each such series considered separately for this purpose), on behalf of the Holders of all Securities of such series, to waive
certain past defaults under the Indenture with respect to such series and their consequences, in the case of Clause (i) or (ii), except as may otherwise be provided pursuant to the Indenture for all or any specific Securities of any series. Any
such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu
hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As provided in and subject to the
provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture, or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder
shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding
shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a
majority in principal amount of Securities of this series at the time Outstanding a direction

  

 20 

 
inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to
any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed [if applicable, insert—or alter or impair the
obligation of each Guarantor, which is absolute and unconditional, to pay pursuant to its Guarantee]. 
 As provided in the
Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place
where the principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof
or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees. 
 The Securities of this series are issuable only in registered form without coupons in denominations of $1,000
and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of
a different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge shall be made for
any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Security for registration of transfer, the Company, [if applicable, insert—any Guarantor,] the Trustee
and any agent of the Company [if applicable, insert—any Guarantor] or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the
Company, [if applicable, insert—any Guarantor,] the Trustee nor any such agent shall be affected by notice to the contrary. 
 [If this Security is a Global Security, insert — This Security is a Global Security and is subject to the provisions of the Indenture relating to Global Securities, including the limitations therein on transfers and exchanges of Global
Securities.] 
 When a successor entity assumes, in accordance with the Indenture, all the obligations of its predecessor under
the Securities and the Indenture, and immediately before and thereafter no Event of Default exists and all other conditions of the Indenture are satisfied, the predecessor entity will be released from those obligations. 
 This Security and the Indenture shall be governed by and construed in accordance with the law of the State of New York, without regard to
the conflicts of laws principles thereof. 
  

 21 

 All terms used in this Security which are defined in the Indenture shall have the meanings
assigned to them in the Indenture. 
 Section 2.04. Form of Legend for Global Securities. Unless otherwise specified
as contemplated by Section 3.01 for the Securities evidenced thereby, every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form: 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE
THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 Section 2.05. Form of Trustee’s
Certificate of Authentication. The Trustee’s certificates of authentication shall be in substantially the following form: 
 This is one of the Securities of the series designated herein and referred to in the within-mentioned Indenture. 
  

							
		 		 	The Bank of New York Mellon Trust
Company, N.A., AS TRUSTEE
				
	Dated:	 		 	By:	 	 
		 		 		 	Authorized Signatory

 ARTICLE III 
 THE SECURITIES 
 Section 3.01. Amount
Unlimited; Issuable in Series. The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 
 The Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution, and, subject to Section 3.03, set forth, or determined in the manner
provided, in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series, 
 (1) the title of the Securities of the series (which shall distinguish the Securities of the series from Securities of any other series); 
 (2) any limit upon the aggregate principal amount of the Securities of the series which may be authenticated and delivered under this
Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 3.04, Section 3.05,
Section 3.06, Section 9.06 or Section 11.07 and except for any Securities which, pursuant to Section 3.03, are deemed never to have been authenticated and delivered hereunder); 
  

 22 

 (3) the Person to whom any interest on a Security of the series shall be payable, if other
than the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 
 (4) the date or dates on which the principal of any Securities of the series is payable; 
 (5) the rate or rates at which any Securities of the series shall bear interest, if any, the date or dates from which any such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular
Record Date for any such interest payable on any Interest Payment Date; 
 (6) the place or places where the principal of and
any premium and interest on any Securities of the series shall be payable and the manner in which any payment may be made; 
 (7) the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series may be redeemed, in whole or in part, at the option of the Company and, if other than by a Board
Resolution, the manner in which any election by the Company to redeem the Securities shall be evidenced; 
 (8) the obligation,
if any, of the Company to redeem or purchase any Securities of the series pursuant to any sinking fund or analogous provisions or at the option of the Holder thereof and the period or periods within which, the price or prices at which and the terms
and conditions upon which any Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 
 (9) if other than denominations of $1,000 and any multiple thereof, the denominations in which any Securities of the series shall be issuable; 
 (10) if the amount of principal of or any premium or interest on any Securities of the series may be determined with reference to an index
or pursuant to a formula, the manner in which such amounts shall be determined; 
 (11) if other than the currency of the United
States of America, the currency, currencies, composite currency, composite currencies or currency units in which the principal of or any premium or interest on any Securities of the series shall be payable and the manner of determining the
equivalent thereof in the currency of the United States of America for any purpose, including for the purposes of making payment in the currency of the United States of America and applying the definition of “Outstanding” in
Section 1.01; 
 (12) if the principal of or any premium or interest on any Securities of the series is to be payable, at
the election of the Company or the Holder thereof, in one or more currencies, composite currencies or currency units other than that or those in which such Securities are stated to be payable, the currency, currencies, composite currency, composite
currencies or currency units in which the principal of or any premium or interest on such Securities as to which such election is made shall be payable, the periods within which and the terms and conditions upon which such election is to be made and
the amount so payable (or the manner in which such amount shall be determined); 
  

 23 

 (13) if other than the entire principal amount thereof, the portion of the principal amount
of any Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.02; 
 (14) if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as of any one or more dates prior to the Stated Maturity, the amount which shall be
deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable upon any Maturity other than the Stated Maturity or which shall
be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be determined); 
 (15) if applicable, that the Securities of the series, in whole or any specified part, shall not be defeasible pursuant to
Section 12.02 or Section 12.03 or both such Sections, and, if such Securities may be defeased, in whole or in part, pursuant to either or both such Sections, any provisions to permit a pledge of obligations other than U.S.
Government Obligations (or the establishment of other arrangements) to satisfy the requirements of Section 12.04(1) for defeasance of such Securities and, if other than by a Board Resolution, the manner in which any election by the
Company to defease such Securities shall be evidenced; 
 (16) if applicable, that any Securities of the series shall be
issuable in whole or in part in the form of one or more Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Security in addition to or
in lieu of that set forth in Section 2.04, any addition to, elimination of or other change in the circumstances set forth in Clause (2) of the penultimate paragraph of Section 3.05 in which any such Global Security may
be exchanged in whole or in part for Securities registered, and any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof and
any other provisions governing exchanges or transfers of any such Global Security; 
 (17) any addition to, elimination of or
other change in the Events of Default which applies to any Securities of the series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to
Section 5.02; 
 (18) any addition to, elimination of or other change in the covenants set forth in Article X
which applies to Securities of the series; 
 (19) any provisions necessary to permit or facilitate the issuance, payment or
conversion of any Securities of the series that may be converted into securities or other property other than Securities of the same series and of like tenor, whether in addition to, or in lieu of, any payment of principal or other amount and
whether at the option of the Company or otherwise; 
 (20) if applicable, that Persons other than those specified in
Section 1.11 shall have such benefits, rights, remedies and claims with respect to any Securities of the series or under this Indenture with respect to such Securities, as and to the extent provided for such Securities; 
  

 24 

 (21) any change in the actions permitted or required under this Indenture to be taken by or
on behalf of the Holders of the Securities of the series, including any such change that permits or requires any or all such actions to be taken by or on behalf of the Holders of any specific Securities of the series rather than or in addition to
the Holders of all Securities of the series; 
 (22) if the Securities of the series are to be guaranteed by any Guarantors, the
names of the Guarantors of the Securities of the series (which may, but need not, include any or all of the Initial Guarantors) and the terms of the Guarantees of the Securities of the series, if such terms differ from those set forth in
Section 13.01, and any deletions from, or modifications or additions to, the provisions of Article XIII or any other provisions of this Indenture in connection with the Guarantees of the Securities of the series; 
 (23) whether the Securities of such series are to be secured by any property, assets or other collateral and, if so, the applicable
collateral, any deletions from, or modifications or additions to, the provisions of Article XV hereof or any other provisions of this Indenture in connection therewith or in connection with any other instrument or agreement entered into in
connection therewith; and 
 (24) any other terms of the series (which terms shall not be inconsistent with the provisions of
this Indenture, except as permitted by Section 9.01(7)). 
 If the Securities of the series are to be guaranteed by
any Guarantor pursuant to Article XIII, there shall be established in one or more indentures supplemental hereto, prior to the issuance of Securities of the series, the terms of the Guarantees by such Guarantor with respect to the Securities
of the series, if such terms differ from those set forth in Section 13.01. 
 All Securities of any one series shall
be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Section 3.03) set forth, or determined in the manner provided, in the
Officers’ Certificate referred to above or in any such indenture supplemental hereto. All Securities of any one series need not be issued at the same time and, unless otherwise provided pursuant to this Section 3.01 for any series,
after issuance of Securities of such series, such series may be reopened for issuances of additional Securities of that series. 
 The terms of any Security of a series may differ from the terms of other Securities of the same series, if and to the extent provided pursuant to this Section 3.01. The matters referenced in any or all of Clauses
(1) through (25) above may be established and set forth or determined as aforesaid with respect to all or any specific Securities of a series (in each case to the extent permitted by the Trust Indenture Act). 
 If any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such
action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of the series. 
 The Securities shall be subordinated in right of payment to Senior Debt as provided in Article XIV. 
  

 25 

 Section 3.02. Denominations. The Securities of each series shall be issuable
only in registered form without coupons and only in such denominations as shall be specified as contemplated by Section 3.01. In the absence of any such specified denomination with respect to the Securities of any series, the Securities
of such series shall be issuable in denominations of $1,000 and any integral multiple thereof. 
 Section 3.03.
Execution, Authentication, Delivery and Dating. The Securities shall be executed on behalf of the Company by its Chairman of the Board, President or a Vice President of the Company (or any other officer of the Company designated in writing by
or pursuant to authority of the Board of Directors and delivered to the Trustee from time to time). The signature of any of these officers on the Securities may be manual or facsimile. If the terms of the Securities of any series provide that any
Guarantee by any Guarantor is to be endorsed on or otherwise attached to, or made part of, Securities of any series, and if the terms of such Securities provide for the execution of such Guarantee by such Guarantor (it being understood and agreed
that the terms of Securities of any series may, but need not, provide for the execution of any Guarantee by any Guarantor), such Guarantee shall be executed on behalf of such Guarantor by an Officer of such Guarantor (or any other officer of such
Guarantor designated in writing by or pursuant to authority of the Guarantor’s Board of Directors and delivered to the Trustee from time to time). The signature of any of these officers on any Guarantee may be manual or facsimile. 

Securities and any Guarantees by any Guarantor endorsed thereon bearing the manual or facsimile signatures of individuals who were at any
time the proper officers of the Company or such Guarantor, as the case may be, shall bind the Company or such Guarantor, as the case may be, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the
authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 
 At any time and
from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company, together with, if the terms of such Securities provide for the endorsement thereon of any Guarantees by
any Guarantor, such Guarantees endorsed hereon and, if such terms so provide, executed by such Guarantor, to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities with any such
Guarantees endorsed thereon, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities with any such Guarantees endorsed thereon. If the form or terms of the Securities of the series have been established by
or pursuant to one or more Board Resolutions as permitted by Sections 2.01 and 3.01, in authenticating such Securities with any such Guarantees endorsed thereon, and accepting the additional responsibilities under this Indenture in
relation to such Securities and such Guarantees, the Trustee shall be entitled to receive, and (subject to Section 6.01) shall be fully protected in relying upon, an Opinion of Counsel stating, 
 (1) if the form of such Securities has been established by or pursuant to Board Resolution as permitted by Section 2.01, that
such form has been established in conformity with the provisions of this Indenture; 
  

 26 

 (2) if the terms of such Securities have been established by or pursuant to Board Resolution
as permitted by Section 3.01, that such terms have been established in conformity with the provisions of this Indenture; and 
 (3) that when such Securities with any Guarantees endorsed thereon have been authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in
such Opinion of Counsel, such Securities and such Guarantee will constitute valid and legally binding obligations of the Company or such Guarantor, respectively, enforceable in accordance with their terms, subject to bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles and subject to any limitation with respect to payments in currency other than
U.S. dollars. 
 If such form or terms have been so established, the Trustee shall not be required to authenticate such
Securities with any Guarantees endorsed thereon if the issue of such Securities with any Guarantees endorsed thereon pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture
or otherwise in a manner which is not reasonably acceptable to the Trustee. 
 Notwithstanding the provisions of
Section 3.01 and of the preceding paragraph, if all Securities of a series are not to be originally issued at one time, it shall not be necessary to deliver the Officers’ Certificate or the Company Order and Opinion of Counsel
otherwise required pursuant to such preceding paragraph at or prior to the authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series
to be issued. 
 Each Security shall be dated the date of its authentication. 
 No Security, nor any Guarantee endorsed thereon, shall be entitled to any benefit under this Indenture or be valid or obligatory for any
purpose unless there appears on such Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the
only evidence, that such Security with any Guarantees endorsed thereon has been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and
sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in Section 3.09, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered
hereunder and shall never be entitled to the benefits of this Indenture. 
 Wherever herein it shall provide for the Company to
execute, and the Trustee to authenticate and deliver, Securities of any series, if the terms of such Securities provide for the endorsement thereon of the Guarantees by any Guarantor, the Company shall cause such Securities so executed by the
Company and authenticated and delivered by the Trustee to have such Guarantees endorsed thereon, and, if such terms require such Guarantees to be executed by such Guarantor, such Guarantees to be executed by such Guarantor. 
  

 27 

 Section 3.04. Temporary Securities. Pending the preparation of definitive
Securities of any series, the Company may execute, and upon Company Order, the Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities or Guarantees,
respectively, may determine, as evidenced by their execution of such Securities or Guarantees, respectively. 
 If temporary
Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall
be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for
cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations
and of like tenor and aggregate principal amount. Until so exchanged, the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series and tenor. 

Section 3.05. Registration, Registration of Transfer and Exchange. The Company shall cause to be kept at each office or
agency of the Company designated as a Place of Payment pursuant to the first paragraph of Section 10.02 a register (the register maintained in each such office or agency of the Company in a Place of Payment being herein sometimes
collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities and of transfers of Securities. [Each
such office or agency] is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as herein provided. 
 Upon surrender for registration of transfer of any Security of a series at the office or agency of the Company in a Place of Payment for that series, the Company and, if applicable, the Guarantors shall
execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount.

 At the option of the Holder, Securities of any series may be exchanged for other Securities of the same series, of any
authorized denominations and of like tenor and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee
shall authenticate and deliver, the Securities, which the Holder making the exchange is entitled to receive. 
 All Securities
issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration
of transfer or exchange. Every Security presented or surrendered for registration of transfer or for exchange shall (if so

  

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required by the Company, any Guarantor or the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly
executed, by the Holder thereof or his attorney duly authorized in writing. 
 No service charge shall be made for any
registration of transfer or exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities,
other than exchanges pursuant to Section 3.04, Section 9.06 or Section 11.07 not involving any transfer. 
 If the Securities of any series (or of any series and specified tenor) are to be redeemed in whole or in part, the Company shall not be required (A) to issue, register the transfer of or exchange any
Securities of that series (or of that series and specified tenor, as the case may be) during a period beginning at the opening of business 15 days before the day of mailing of a notice of redemption of any such Securities under
Section 11.03 and ending at the close of business on the day of such mailing (or during such period as otherwise specified pursuant to Section 3.01 for such Securities), or (B) to register the transfer of or exchange any
Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 
 The provisions of Clauses (1), (2), (3) and (4) below shall apply only to Global Securities: 
 (1) Each
Global Security authenticated under this Indenture shall be registered in the name of the Depositary designated for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such
Global Security shall constitute a single Security for all purposes of this Indenture. 
 (2) Notwithstanding any other
provision in this Indenture, and subject to such applicable provisions, if any, as may be specified as contemplated by Section 3.01, no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a
Global Security in whole or in part may be registered, in the name of any Person other than the Depositary for such Global Security or a nominee thereof unless (A) such Depositary has notified the Company that it (i) is unwilling or unable
to continue as Depositary for such Global Security or (ii) has ceased to be a clearing agency registered under the Exchange Act, or (B) the Company has executed and delivered to the Trustee a Company Order stating that such Global Security
shall be exchanged in whole for Securities that are not Global Securities (in which case such exchange shall promptly be effected by the Trustee). If the Company receives a notice of the kind specified in Clause (A) above or has delivered a
Company Order of the kind specified in Clause (B) above, it may, in its sole discretion, designate a successor Depositary for such Global Security within 90 days after receiving such notice or delivery of such order, as the case may be. If the
Company designates a successor Depositary as aforesaid, such Global Security shall promptly be exchanged in whole for one or more other Global Securities registered in the name of the successor Depositary, whereupon such designated successor shall
be the Depositary for such successor Global Security or Global Securities and the provisions of Clauses (1), (2), (3) and (4) of this provision shall continue to apply thereto. 
  

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 (3) Subject to Clause (2) above and to such applicable provisions, if any, as may be
specified as contemplated by Section 3.01, any exchange of a Global Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global Security or any portion thereof shall be registered in
such names as the Depositary for such Global Security shall direct. 
 (4) Every Security authenticated and delivered upon
registration of transfer of, or in exchange for or in lieu of, a Global Security or any portion thereof, whether pursuant to this Section, Section 3.04, Section 3.06, Section 9.06 or Section 11.07 or
otherwise, shall be authenticated and delivered in the form of, and shall be, a Global Security, unless such Security is registered in the name of a Person other than the Depositary for such Global Security or a nominee thereof. 
 Every Person who takes or holds any beneficial interest in a Global Security agrees that: 
 (1) the Company and the Trustee may deal with the Depositary as sole owner of the Global Security and as the authorized representative of
such Person; 
 (2) such Person’s rights in the Global Security shall be exercised only through the Depositary and shall be
limited to those established by law and agreement between such Person and the Depositary and/or direct and indirect participants of the Depositary; 
 (3) the Depositary and its participants make book-entry transfers of beneficial ownership among, and receive and transmit distributions of principal and interest on the Global Securities to, such Persons
in accordance with the Applicable Procedures of the Depositary; and 
 (4) none of the Company, the Trustee nor any agent of the
Company or the Trustee will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records
relating to such beneficial ownership interests. 
 Section 3.06. Mutilated, Destroyed, Lost and Wrongfully Taken
Securities. If (a) any mutilated Security is surrendered to the Trustee or (b) both (i) there shall be delivered to the Company and the Trustee (A) a claim by a Holder as to the destruction, loss or wrongful taking of any
Security of such Holder and a request thereby for a new replacement Security of the same series, and (B) such indemnity bond as may be required by them to save each of them and any agent of either of them harmless and (ii) such other
reasonable requirements as may be imposed by the Company as permitted by Section 8-405 of the Uniform Commercial Code have been satisfied, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a
“protected purchaser” within the meaning of Section 8-405 of the Uniform Commercial Code, the Company shall execute and upon its request the Trustee shall authenticate and deliver, in lieu of any such mutilated, destroyed, lost or
wrongfully taken Security, a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously Outstanding. In case any such mutilated, destroyed, lost or wrongfully taken Security has become or is
about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
  

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 Upon the issuance of any new Security under this Section, the Company may require the
payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 Every new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or wrongfully taken Security shall
constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or wrongfully taken Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally
and proportionately with any and all other Securities of that series duly issued hereunder. 
 The provisions of this Section
are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or wrongfully taken Securities. 
 Section 3.07. Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by
Section 3.01 with respect to any Securities of a series, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one
or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest (or, if no business is conducted by the Trustee at its Corporate Trust Office on such date, at 5:00 P.M. New York City time on such
date). 
 Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any
Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by
the Company, at its election in each case, as provided in Clause (1) or (2) below: 
 (1) The Company may elect to
make payment of any Defaulted Interest payable on any Securities of a series to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment
of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each of such Securities and the date of the proposed payment, and at
the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the
date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such
Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly
notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of such
Securities in the manner set forth in Section 1.06, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the

  

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Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered
at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (2). 
 (2)
The Company may make payment of any Defaulted Interest on any Securities of a series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be
required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 
 Except as may otherwise be provided in this Section 3.07 or as contemplated in Section 3.01 with respect to any
Securities of a series, the Person to whom interest shall be payable on any Security that first becomes payable on a day that is not an Interest Payment Date shall be the Holder of such Security on the day such interest is paid. 
 Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in
exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 
 In the case of any Security which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date (other than any Security whose Maturity is prior to such Interest
Payment Date), interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion, and such interest (whether or not punctually paid or duly provided for) shall be paid to
the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on such Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any
Security which is converted, interest whose Stated Maturity is after the date of conversion of such Security shall not be payable. 
 Notwithstanding the foregoing, the terms of any Security that may be converted may provide that the provisions of this paragraph do not apply, or apply with such additions, changes or omissions as may be provided thereby, to such Security.

 Section 3.08. Persons Deemed Owners. Prior to due presentment of a Security for registration of transfer, the
Company, any Guarantor and the Trustee and any agent of the Company, any Guarantor or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and
any premium and (subject to Section 3.07) any interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, any Guarantor, the Trustee nor any agent of the Company, any
Guarantor or the Trustee shall be affected by notice to the contrary. 
 Section 3.09. Cancellation. All Securities
surrendered for payment, redemption, registration of transfer or exchange or conversion or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be 

 

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promptly canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in
any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered
shall be promptly canceled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities canceled as provided in this Section, except as expressly permitted by this Indenture. All canceled Securities held by the
Trustee shall be disposed of as directed by a Company Order; provided, however, that the Trustee shall not be required to destroy such canceled Securities. 
 Section 3.10. Computation of Interest. Except as otherwise specified as contemplated by Section 3.01 for Securities of any series, interest on the Securities of each series shall
be computed on the basis of a 360-day year of twelve 30-day months. 
 Section 3.11. CUSIP Numbers. The Company in
issuing the Securities may use CUSIP numbers (if then generally in use) and, if so, the Trustee shall use CUSIP numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as
to the correctness of such numbers either as printed on the Securities or as contained in any notice of redemption and that reliance may be placed only on the other identification numbers printed on the Securities. Any such redemption shall not be
affected by any defect in or omission of such CUSIP numbers. The Company shall promptly notify the Trustee in writing of any change in the CUSIP numbers. 
 ARTICLE IV 
 SATISFACTION AND DISCHARGE 
 Section 4.01. Satisfaction and Discharge of Indenture. This Indenture shall upon Company Request cease to be of further effect
with respect to the Securities of any series and any Guarantees of such Securities (except as to any surviving rights of conversion, registration of transfer or exchange of any such Security expressly provided for herein or in the terms of such
Security), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture with respect to such Securities, when 
 (1) either 
 (A) all such Securities theretofore authenticated and delivered (other than (i) Securities which have been destroyed, lost or wrongfully taken and which have been replaced or paid as provided in Section 3.06 and
(ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 10.03) have
been delivered to the Trustee for cancellation; or 
 (B) all such Securities not theretofore delivered to the
Trustee for cancellation 
 (i) have become due and payable, or 
 (ii) will become due and payable at their Stated Maturity within one year, or 
  

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 (iii) are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, 
 and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for such purpose money in an amount sufficient to pay and discharge the entire indebtedness
on such Securities not theretofore delivered to the Trustee for cancellation, for principal and any premium and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or
Redemption Date, as the case may be; 
 (2) the Company has paid or caused to be paid all other sums payable hereunder by the
Company with respect to such Securities; and 
 (3) the Company has delivered to the Trustee an Officers’ Certificate and
an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to such Securities have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture with respect to Securities of any series, the obligations of the Company to
the Trustee under Section 6.07, the obligations of the Company to any Authenticating Agent under Section 6.14, and, if money shall have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of this
Section with respect to such Securities, the obligations of the Company of such series under Section 10.02 and the obligations of the Trustee under Section 4.02, Section 6.06 and the last paragraph of
Section 10.03 with respect to such Securities shall survive such satisfaction and discharge. 
 Section 4.02.
Application of Trust Money. Subject to the provisions of the last paragraph of Section 10.03, all money deposited with the Trustee pursuant to Section 4.01 with respect to Securities of any series shall be held in
trust and applied by it, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the
Persons entitled thereto, of the principal and any premium and interest for whose payment such money has been deposited with the Trustee. All moneys deposited with the Trustee pursuant to Section 4.01 (and held by it or any Paying Agent)
for the payment of Securities subsequently converted shall be returned to the Company upon Company Request, to the extent originally deposited by the Company. The Company may direct by a Company Order the investment of any money deposited with the
Trustee pursuant to Section 4.01, without distinction between principal and income, in (1) United States Treasury Securities with a maturity of one year or less or (2) a money market fund that invests solely in short term
United States Treasury Securities and from time to time the Company may direct the reinvestment of all or a portion of such money in other securities or funds meeting the criteria specified in Clause (1) or (2) of this sentence.

  

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 ARTICLE V 
 REMEDIES 
 Section 5.01. Events of Default. 
 Except as may otherwise be provided pursuant to Section 3.01 for all or any specific Securities of any series, “Event
of Default,” wherever used herein with respect to the Securities of that series, means any one of the following events (whatever the reason for such Event of Default and whether it shall be occasioned by the provisions of Article
XIV or be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 
 (1) default in the payment of any interest upon any Security of that series when it becomes due and payable, and continuance of such default
for a period of 30 days; or 
 (2) default in the payment of the principal of or any premium on any Security of that series at
its Maturity; or 
 (3) default in the performance, or breach, of any covenant or warranty of the Company in this Indenture
(other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the benefit of series of Securities other than
that series), and continuance of such default or breach for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal
amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied within a specified time after receipt of such notice and stating that such notice is a “Notice of
Default” hereunder; or 
 (4) the entry by a court having jurisdiction in the premises of (A) a decree or
order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order adjudging the Company a bankrupt or
insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law, or appointing a custodian, receiver, liquidator, assignee,
trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any such other decree
or order unstayed and in effect for a period of 90 consecutive days (provided that, if any Person becomes the successor to the Company pursuant to Article VIII and such Person is organized and validly existing under the law of a jurisdiction
outside the United States, each reference in this Clause (4) to an applicable Federal or State law of a particular kind shall be deemed to refer to such law or any applicable comparable law of such non-U.S. jurisdiction, for as long as such
Person is the successor to the Company hereunder and is so organized and existing); or 
 (5) the commencement by the Company of
a voluntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a
decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other

  

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similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any
applicable Federal or State law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of
any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the
Company in furtherance of any such action (provided that, if any Person becomes the successor to the Company pursuant to Article VIII and such Person is organized and validly existing under the law of a jurisdiction outside the United States,
each reference in this Clause (5) to an applicable Federal or State law of a particular kind shall be deemed to refer to such law or any applicable comparable law of such non-U.S. jurisdiction, for as long as such Person is the successor to the
Company hereunder and is so organized and existing); or 
 (6) any other Event of Default provided with respect to Securities of
that series in accordance with Section 3.01. 
 Section 5.02. Acceleration of Maturity; Rescission and
Annulment. Except as may otherwise be provided pursuant to Section 3.01 for all or any specific Securities of any series, if an Event of Default (other than an Event of Default specified in Section 5.01(4) or
Section 5.01(5)) with respect to Securities of that series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of
that series may declare the principal amount of all the Securities of that series (or, in the case of any Security of that series which specifies an amount to be due and payable thereon upon acceleration of the Maturity thereof, such amount as may
be specified by the terms thereof) to be due and payable immediately, by a notice in writing to the Company and any Guarantor of the Securities of that series (and to the Trustee if given by Holders), and upon any such declaration such principal
amount (or specified amount) shall become immediately due and payable. Except as may otherwise be provided pursuant to Section 3.01 for all or any specific Securities of any series, if an Event of Default specified in
Section 5.01(4) or Section 5.01(5) with respect to Securities of that series at the time Outstanding occurs, the principal amount of all the Securities of that series (or, in the case of any Security of that series which
specifies an amount to be due and payable thereon upon acceleration of the Maturity thereof, such amount as may be specified by the terms thereof) shall automatically, and without any declaration or other action on the part of the Trustee or any
Holder, become immediately due and payable. 
 Except as may otherwise be provided pursuant to Section 3.01 for all
or any specific Securities of any series, at any time after such a declaration of acceleration with respect to Securities of that series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as
hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company, any Guarantor of the Securities of that series and the Trustee, may rescind and annul
such declaration and its consequences if 
 (1) the Company or any such Guarantor has paid or deposited with the Trustee a sum
sufficient to pay 
  

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 (A) all overdue interest on all Securities of that series, 
 (B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such
declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities, 
 (C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and 
 (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel; and 
 (2) all Events of Default with respect to Securities of that series, other than
the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.12. 
 No such rescission shall affect any subsequent default or impair any right consequent thereon. 
 Section 5.03. Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if 
 (1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for
a period of 60 days, or 
 (2) default is made in the payment of the principal of (or premium, if any, on) any Security at the
Maturity thereof, 
 the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole
amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at
the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel. 
 If an Event of Default with respect to Securities of any series occurs and is
continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and
enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
 Section 5.04. Trustee May File Proofs of Claim. In case of any judicial proceeding relative to the Company, any Guarantor or any
other obligor upon the Securities, their property or their creditors, the Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in 

 

 37 

 
order to have claims of the Holders and the Trustee allowed in any such proceeding. The Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on
any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee
and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, and any other amounts due the Trustee under Section 6.07. 
 No provision of this Indenture shall be deemed
to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding; provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a
creditors’ or other similar committee. 
 Section 5.05. Trustee May Enforce Claims Without Possession of
Securities. All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and
any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered. 
 Section 5.06. Application of Money Collected. Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 FIRST: To the payment of all amounts due the Trustee under Section 6.07; 
 SECOND: To the payment of the amounts then due and unpaid for principal of and any premium and interest on the Securities in respect of
which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and any premium and interest, respectively; and

 THIRD: To the payment of the remainder, if any, to the Company, any Guarantor or to whomsoever may be lawfully entitled to
receive the same as a court of competent jurisdiction may direct. 
  

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 Section 5.07. Limitation on Suits. No Holder of any Security of any series shall
have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 
 (1) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that
series; 
 (2) the Holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made
written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (3) such Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to it against the losses, expenses and liabilities to be incurred in compliance with such request; 
 (4) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding;
and 
 (5) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the
Holders of a majority in principal amount of the Outstanding Securities of that series; it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision
of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner
herein provided and for the equal and ratable benefit of all of such Holders. 
 Section 5.08. Restoration of Rights and
Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to
such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and
remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 
 Section 5.09.
Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or wrongfully taken Securities in the last paragraph of Section 3.06, no right or remedy herein
conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy
given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or
remedy. 
 Section 5.10. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any
Securities to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an 
  

 39 

 
acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the
Trustee or by the Holders, as the case may be. 
 Section 5.11. Control by Holders. The Holders of a majority in
principal amount of the Outstanding Securities of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee,
with respect to the Securities of such series, provided that 
 (1) such direction shall not be in conflict with any rule of law
or with this Indenture; 
 (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with
such direction; and 
 (3) subject to the provisions of Section 6.01, the Trustee shall have the right to decline to
follow any such direction if the Trustee in good faith shall determine that the proceeding so directed would involve the Trustee in personal liability. 
 Section 5.12. Waiver of Past Defaults. Except as may otherwise be provided pursuant to Section 3.01 for all or any specific Securities of any series, the Holders of not less than a
majority in principal amount (including waivers obtained in connection with a purchase of, or tender offer or exchange offer for, Securities) of the Outstanding Securities of any series to be affected under this Indenture may by notice to the
Trustee on behalf of the Holders of all the Securities of such series waive any existing default and its consequences hereunder with respect to such series and its consequences, except a default 
 (1) in the payment of the principal of or any premium or interest on any Security of such series, or 
 (2) arising from the failure to redeem or purchase any Security when required under this Indenture; or 
 (3) in respect of a covenant or provision hereof which under Article IX cannot be modified or amended without the consent of the
Holder of each Outstanding Security of such series affected. 
 Upon any such waiver with respect to any series, such default
shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, with respect to such series for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any
right consequent thereon. A waiver of any past default and its consequences given by or on behalf of any Holder of Securities in connection with a purchase of, or tender or exchange offer for, such Holder’s Securities will not be rendered
invalid by such purchase, tender or exchange. 
 Section 5.13. Undertaking for Costs. In any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of
such suit, and may assess costs, including reasonable attorneys’ fees and 
  

 40 

 
expenses, against any such party litigant, in the manner and to the extent provided in the Trust Indenture Act; provided that neither this Section nor the Trust Indenture Act shall be deemed to
authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company, any Guarantor or the Trustee or, if applicable, in any suit for the enforcement of the right to convert any Security in
accordance with its terms. 
 Section 5.14. Waiver of Usury, Stay or Extension Laws. The Company and each Guarantor
covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time
hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company and each Guarantor (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants
that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE VI 
 THE TRUSTEE 
 Section 6.01. Certain Duties and Responsibilities. (a) Except during the
continuance of an Event of Default, 
 (1) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture and as are provided by the Trust Indenture Act, and, except for implied covenants or obligations under the Trust Indenture Act, no implied covenants or obligations shall be read into this Indenture against
the Trustee; and 
 (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any
provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture. 
 (b) In case an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by
this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 
 (c) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent
failure to act, or its own willful misconduct, except that 
 (1) this Subsection shall not be construed to limit the effect of
the first paragraph of this Section; 
  

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 (2) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (3) the
Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in principal amount of the Outstanding Securities of any series, determined as
provided in Section 5.11, relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the
Securities of such series; and 
 (4) no provision of this Indenture shall require the Trustee to expend or risk its own funds
or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity
against such risk or liability is not reasonably assured to it. 
 (d) Whether or not therein expressly so provided, 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. 
 Section 6.02. Notice of Defaults. If a default occurs hereunder with respect to Securities of any series, the Trustee shall give
the Holders of Securities of such series notice of such default as and to the extent provided by the Trust Indenture Act; provided, however, that in the case of any default of the character specified in Section 5.01(3) with
respect to Securities of such series, no such notice to Holders shall be given until at least 60 days after the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after notice
or lapse of time or both would become, an Event of Default with respect to Securities of such series. 
 Section 6.03.
Certain Rights of Trustee. Subject to the provisions of Section 6.01: 
 (1) the Trustee may conclusively
rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other
paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (2) any
request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any resolution of the Board of Directors shall be sufficiently evidenced by a Board Resolution; 
 (3) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to
taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) shall be entitled to receive and may, in the absence of bad faith on its part, conclusively rely upon an Officers’
Certificate; 
  

 42 

 (4) the Trustee may consult with counsel of its selection and the advice of such counsel or
any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
 (5) 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 or indemnity reasonably satisfactory to it against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction; 
 (6) the Trustee shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion,
may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the
Company and, if applicable, the Guarantors, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation; 
 (7) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or
attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder and shall not be responsible for the supervision of officers and employees of such
agents or attorneys; 
 (8) the Trustee may request that the Company deliver an Officers’ Certificate setting forth the
names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an Officers’ Certificate, including any
person specified as so authorized in any such certificate previously delivered and not superseded; 
 (9) the Trustee shall not
be liable for any action taken, suffered or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (10) except with respect to Section 10.01, the Trustee shall have not duty to inquire as to the performance of the Company with
respect to the covenants contained in Article Ten. In addition, the Trustee shall not be deemed to have knowledge of an Event of Default except (i) any Event of Default occurring pursuant to Sections 10.01, 5.01(1) or
5.01(2) or (ii) any Event of Default of which the Trustee shall have received written notification or obtained actual knowledge; and 
 (11) the rights, privileges, protections, immunities and benefits given to the Trustee, including its rights to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its
capacities hereunder. 
  

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 Section 6.04. Not Responsible for Recitals or Issuance of Securities. The
recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee does not assume any responsibility for their correctness. The Trustee makes
no representations as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the use or application by the Company of Securities or the proceeds thereof. 
 Section 6.05. May Hold Securities. The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any
other agent of the Company or any Guarantor, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Section 6.08 and Section 6.13, may otherwise deal with the Company or any
Guarantor with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other agent. 
 Section 6.06. Money Held in Trust. Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no
liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company or any Guarantor. 
 Section 6.07. Compensation and Reimbursement. 
 The Company agrees 
 (1) to pay to the Trustee from time to time such compensation as the Company and Trustee shall agree in writing for all services rendered by
it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
 (2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any
provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its negligence or willful misconduct; and

 (3) to indemnify each of the Trustee or any predecessor Trustee and its officers, directors, agents and employees for, and to
hold it harmless against, any and all losses, liabilities, damages, claims or expenses including taxes (other than taxes based upon, measured by or determined by the earnings or income of the Trustee) incurred without negligence or willful
misconduct on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending itself against any claim (whether asserted by the Company, a Guarantor, a
Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder. 
 As security for the performance of the obligations of the Company under this Section the Trustee shall have a lien prior to the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for
the payment of principal of (and premium, if any) or interest on Securities. 
  

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 Without limiting any rights available to the Trustee under applicable law, when the Trustee
incurs expenses or renders services in connection with an Event of Default specified in Section 5.01(4) or Section 5.01(5), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for
the services are intended to constitute expenses of administration under any applicable Federal or State bankruptcy, insolvency or other similar law. 
 The provisions of this Section shall survive the termination of this Indenture. 
 Section 6.08. Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the
manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a trustee under
this Indenture with respect to Securities of more than one series. 
 Section 6.09. Corporate Trustee Required;
Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is
eligible pursuant to the Trust Indenture Act to act as such, has a combined capital and surplus of at least $50,000,000 and has its Corporate Trust Office in the continental United States of America. If any such Person publishes reports of condition
at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall
be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions
of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 
 Section 6.10. Resignation and Removal; Appointment of Successor. No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of
appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. 
 The Trustee
may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to
the Trustee within 60 days after the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the
Securities of such series. 
 The Trustee may be removed at any time with respect to the Securities of any series by Act of the
Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been
delivered to the Trustee within 30 days after the giving of a notice of removal pursuant to this paragraph, the Trustee being removed may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor
Trustee with respect to the Securities of such series. 
  

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 If at any time: 
 (1) the Trustee shall fail to comply with Section 6.08 after written request therefor by the Company or by any Holder who has
been a bona fide Holder of a Security for at least six months, or 
 (2) the Trustee shall cease to be eligible under
Section 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or 
 (3)
the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or
affairs for the purpose of rehabilitation, conservation or liquidation, 
 then, in any such case, (A) the Company by a Board Resolution
may remove the Trustee with respect to all Securities, or (B) subject to Section 5.13, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 
 If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the
Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one
or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 6.11. If an instrument of acceptance
by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of removal, the Trustee being removed may petition, at the expense of the Company, any court of competent jurisdiction for the
appointment of a successor Trustee with respect to the Securities of such series. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any
series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company.
If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, any Holder who has been a bona fide Holder
of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any
series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.06. Each notice shall include the name of the successor
Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 
  

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 Section 6.11. Acceptance of Appointment by Successor. In case of the appointment
hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company, any Guarantor and to the retiring Trustee an instrument accepting such appointment, and
thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee;
but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee
and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. 
 In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, any Guarantor, the retiring Trustee and each successor Trustee with respect to the Securities of
one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm
to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring
Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that
or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a
trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall
become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and
money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. 
 Upon request of any such successor Trustee, the Company and any Guarantor shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such
rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be. 
  

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 No successor Trustee shall accept its appointment unless at the time of such acceptance such
successor Trustee shall be qualified and eligible under this Article. 
 Section 6.12. Merger, Conversion, Consolidation
or Succession to Business. Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party,
or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without
the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or
consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 
 Section 6.13. Preferential Collection of Claims Against Company. If and when the Trustee shall be or become a creditor of the
Company (or any other obligor upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor). 
 Section 6.14. Appointment of Authenticating Agent. The Trustee may appoint an Authenticating Agent or Agents with respect to any
series of Securities which shall be authorized to act on behalf of the Trustee to authenticate the Securities of such Series issued upon original issue and upon exchange, registration of transfer, partial conversion or partial redemption or pursuant
to Section 3.06, and Securities of such series so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is
made in this Indenture to the authentication and delivery of Securities of such series by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee
by an Authenticating Agent so appointed with respect to such series and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent so appointed with respect to such series. Each Authenticating Agent shall be
acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent,
having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State authority. If such Authenticating Agent publishes reports of condition at least annually pursuant to law or to the
requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in
this Section. 
 Any corporation into which an Authenticating Agent may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding

  

 48 

 
to all or substantially all the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be otherwise
eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee, the Company, the Authenticating Agent or such successor corporation. An Authenticating Agent may resign at any time by giving
written notice thereof to the Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of
resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent with respect to any
series of Securities which shall be acceptable to the Company and shall give notice of such appointment to all Holders of Securities of such series in the manner provided in Section 1.06. Any successor Authenticating Agent upon
acceptance of its appointment hereunder shall become vested with all rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed
unless eligible under the provisions of this Section. 
 The Company agrees to pay to each Authenticating Agent from time to
time reasonable compensation for its services under this Section. 
 If an appointment is made pursuant to this Section with
respect to Securities of any series, the Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternate certificate of authentication in the following form: 
 This is one of the Securities of the series designated herein and referred to in the within-mentioned Indenture. 
  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., AS TRUSTEE
		
	By:	 	 
		 	As Authenticating Agent
		
	By:	 	 
		 	Authorized Signatory

 ARTICLE VII 
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 
 Section 7.01. Company to Furnish Trustee Names and Addresses of Holders. The Company and any Guarantor will furnish or cause to be furnished to the Trustee 
 (1) semi-annually, not later than [            ] and
[            ] in each year, a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders of Securities of each series as of the immediately
preceding [            ] or [            ] as the case may be, and 
  

 49 

 (2) at such other times as the Trustee may request in writing, within 30 days after the
receipt by the Company or such Guarantor, respectively, of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 
 excluding from any such list names and addresses received by the Trustee in its capacity as Security Registrar. 
 Section 7.02. Preservation of Information; Communications to Holders. The Trustee shall preserve, in as current a form as is
reasonably practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in Section 7.01 and the names and addresses of Holders received by the Trustee in its capacity as Security
Registrar. The Trustee may destroy any list furnished to it as provided in Section 7.01 upon receipt of a new list so furnished. 
 The rights of Holders to communicate with other Holders with respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as
provided by the Trust Indenture Act. 
 Every Holder of Securities, by receiving and holding the same, agrees with the Company,
any Guarantor and the Trustee that neither of the Company nor the Guarantors (if applicable) nor the Trustee nor any agent of any of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made
pursuant to the Trust Indenture Act. 
 Section 7.03. Reports by Trustee. The Trustee shall transmit to Holders such
reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. 
 Reports so required to be transmitted at stated intervals of not more than 12 months shall be transmitted no later than
[            ] and shall be dated as of [            ] in each calendar year, commencing in
20[    ]. 
 A copy of each such report shall, at the time of such transmission to Holders, be filed
by the Trustee with each stock exchange upon which any Securities are listed, with the Commission and with the Company and any Guarantor. The Company and any Guarantor will notify the Trustee when any Securities are listed on any stock exchange and
of any delisting thereof. 
 Section 7.04. Reports by Company. The Company and any Guarantor shall file with the
Trustee and the Commission, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act, if any, at the times and in the manner provided pursuant to such
Act; provided that any such information, documents or reports required to be filed with the Commission pursuant to Section 13 or 15(d) of the Exchange Act need not be filed with the Trustee until the 15th day after the same are actually filed
with the Commission. Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or
determinable from information contained therein, including the compliance by the Company or any Guarantor with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
  

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 ARTICLE VIII 
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
 Section 8.01. Company May Consolidate, Etc., Only on Certain Terms. The Company shall not consolidate with or merge into any other Person or sell, convey, transfer or lease all or substantially all its properties and assets to
any Person, and the Company shall not permit any Person to consolidate with or merge into the Company, unless: 
 (1) in case
the Company shall consolidate with or merge into another Person or sell, convey, transfer or lease all or substantially all its properties and assets to any Person, the Person formed by such consolidation or into which the Company is merged or the
Person which acquires by sale, conveyance or transfer, or which leases, all or substantially all the properties and assets of the Company shall be organized and validly existing under the laws of the United States, any State thereof or the District
of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, the due and punctual payment of the principal of and any premium and interest on all
the Securities and the performance or observance of every covenant of this Indenture on the part of the Company to be performed or observed and, for each Security that by its terms provides for conversion, shall have provided for the right to
convert such Security in accordance with its terms; 
 (2) immediately after giving effect to such transaction and treating any
indebtedness which becomes an obligation of the Company or any Subsidiary as a result of such transaction as having been incurred by the Company or such Subsidiary at the time of such transaction, no Event of Default, and no event which, after
notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing; 
 (3) the Company has
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, sale, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction,
such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 
 Section 8.02. Successor Substituted. Upon any consolidation of the Company with, or merger of the Company into, any other Person or any sale, conveyance, transfer or lease of all or
substantially all the properties and assets of the Company in accordance with Section 8.01, the successor Person formed by such consolidation or into which the Company is merged or to which such sale, conveyance, transfer or lease is
made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a
lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 
  

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 ARTICLE IX 
 SUPPLEMENTAL INDENTURES 
 Section 9.01.
Supplemental Indentures Without Consent of Holders. Except as may otherwise be provided pursuant to Section 3.01 for all or any specific Securities of any series, without the consent of any Holders, the Company, when authorized by
a Board Resolution, each of the Guarantors, when authorized by a Guarantor’s Board Resolution of such Guarantor, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory
to the Trustee, for any of the following purposes: 
 (1) to cure any ambiguity or omission, to correct or supplement any
provision herein which may be defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture; or 
 (2) to comply with Article VIII; or 
 (3) to evidence the succession of another Person to the Company or a Guarantor and the assumption by any such successor of the covenants of the Company or such Guarantor herein and in the Securities or
the Guarantees of such Guarantor, as the case may be; or 
 (4) to add to the covenants of the Company or any Guarantor for the
benefit of the Holders of all or any Securities of any series (and if such covenants are to be for the benefit of less than all Securities of such series, stating that such covenants are expressly being included solely for the benefit of such
Securities within such series) or to surrender any right or power herein conferred upon the Company or any Guarantor with regard to all or any Securities of any series (and if any such surrender is to be made with regard to less than all Securities
of such series, stating that such surrender is expressly being made solely with regard to such Securities within such series); or 
 (5) to add any additional Events of Default for the benefit of the Holders of all or any Securities of any series (and if such additional Events of Default are to be for the benefit of less than all Securities of such series, stating that
such additional Events of Default are expressly being included solely for the benefit of such Securities within such series); or 
 (6) to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of Securities in definitive form, or to permit or facilitate the issuance of Securities in
uncertificated form; or 
 (7) to add to, change or eliminate any of the provisions of this Indenture in respect of all or any
Securities of any series or any Guarantees thereof (and if such addition, change or elimination is to apply with respect to less than all Securities of such series or Guarantees thereof, stating that it is expressly being made to apply solely with
respect to such Securities within such series or Guarantees thereof), provided that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series or Guarantee thereof created prior to the execution of
such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no such Security
Outstanding; or 
  

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 (8) to secure the Securities or any Guarantees; or 
 (9) to establish the form or terms of all or any Securities of any series and any Guarantees thereof as permitted by
Section 2.01 and Section 3.01; or 
 (10) to evidence and provide for the acceptance of appointment
hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by
more than one Trustee, pursuant to the requirements of Section 6.11; or 
 (11) to add to or change any of the
provisions of this Indenture with respect to any Securities that by their terms may be converted into securities or other property other than Securities of the same series and of like tenor, in order to permit or facilitate the issuance, payment or
conversion of such Securities; or 
 (12) to add any Person as an additional Guarantor under this Indenture, to add additional
Guarantees or additional Guarantors in respect of any Outstanding Securities under this Indenture, or to evidence the release and discharge of any Guarantor from its obligations under its Guarantees of any Securities and its obligations under this
Indenture in respect of any Securities in accordance with the terms of this Indenture; or 
 (13) to comply with any requirement
of the Commission in connection with the qualification of this Indenture under the Trust Indenture Act; or 
 (14) to make any
amendment to the provisions of this Indenture relating to the transfer and legending of Securities; provided, however, that (a) compliance with this Indenture as so amended would not result in Securities being transferred in violation of
the Securities Act or any other applicable securities law and (b) such amendment does not materially and adversely affect the rights of Holders to transfer Securities; or 
 (15) to make any other change to this Indenture that does not adversely affect the interests of the Holders of Securities of any series in
any material respect. 
 The Trustee is hereby authorized to join with the Company and the Guarantors in the execution of any
such supplemental indenture, to make any further appropriate agreements and stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder, but the Trustee shall not be
obligated to enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 Section 9.02. Supplemental Indentures With Consent of Holders. Except as may otherwise be provided pursuant to Section 3.01 for all or any specific Securities of any series or
Guarantees thereof, with the consent of the Holders of a majority in principal amount (including consents obtained in connection with a purchase of, or tender offer or exchange offer for, Securities) of the Outstanding Securities of all series
affected by such supplemental indenture (considered together as one class for this purpose and such affected Securities potentially being Securities of the same or different series and, with respect to any series, potentially comprising

  

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fewer than all the Securities of such series), by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, each of the Guarantors when
authorized by a Guarantor’s Board Resolution of such Guarantor, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture or any Guarantees of such Securities; provided, however, that no such supplemental indenture shall,
without the consent of the Holder of each Outstanding Security affected thereby (including consents obtained in connection with a purchase of, or tender offer or exchange offer for, Securities), 
 (1) change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security, or reduce the principal
amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or 
 (2) permit the Company
to redeem any Security if, absent such supplemental indenture, the Company would not be permitted to do so, or 
 (3) change any
Place of Payment where, or the coin or currency in which, any Security or any premium or interest thereon is payable, or 
 (4)
change the ranking or priority of any Security that would adversely affect the Holders, or 
 (5) impair the right to institute
suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or 
 (6) reduce the percentage in principal amount of the Outstanding Securities of any one or more series (considered separately or together as one class, as applicable, and whether comprising the same or
different series or less than all the Securities of a series), the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this
Indenture or certain defaults hereunder and their consequences) provided for in this Indenture, or 
 (7) if any Security is
guaranteed by the Guarantee of any Grantor, release such Guarantor from any of its obligations under such Guarantee except in accordance with the terms of this Indenture, or 
 (8) modify any of the provisions of this Section, Section 5.12 or Section 10.06, except to increase any such
percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be
deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section and Section 10.06, or the deletion of this proviso, in accordance with
the requirements of Section 6.11 and Section 9.01(10). 
  

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 A supplemental indenture which changes or eliminates any covenant or other provision of this
Indenture which has expressly been included solely for the benefit of one or more particular Securities or series of Securities, or which modifies the rights of the Holders of such Securities or series with respect to such covenant or other
provision, shall be deemed not to affect the rights under this Indenture of the Holders of any other Securities or of any other series, as applicable. It shall not be necessary for any Act of Holders under this Section to approve the particular form
of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. A consent to any indenture supplemental hereto by or on behalf of any Holder of Securities given in connection with a purchase of, or
tender or exchange offer for, such Holder’s Securities will not be rendered invalid by such purchase, tender or exchange. 
 Section 9.03. Execution of Supplemental Indentures. In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this
Indenture, the Trustee shall be entitled to receive, and (subject to Section 6.01) shall be fully protected in conclusively relying upon, an Opinion of Counsel and Officers’ Certificate stating that the execution of such
supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise. 
 Section 9.04. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture
under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered
hereunder shall be bound thereby. 
 Section 9.05. Conformity with Trust Indenture Act. Every supplemental indenture
executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act. 
 Section 9.06.
Reference in Securities to Supplemental Indentures. Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in
form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the Trustee and the Company, to any such
supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 
 Section 9.07. Subordination Unimpaired. No supplemental indenture shall adversely affect the interests of any holder of Senior Debt then outstanding under Article XIV or of any holder
of Senior Guarantor Debt then outstanding under the last paragraph of Section 13.01 in any material respect unless each holder of Senior Debt or Senior Guarantor Debt so affected (or the group or representative thereof authorized or
required to consent thereto pursuant to the instrument creating or evidencing, or pursuant to which there is outstanding, such Senior Debt or Senior Guarantor Debt) consents to such supplemental indenture in writing. 
  

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 ARTICLE X 
 COVENANTS 
 Section 10.01. Payment of Principal, Premium and
Interest. The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and any premium and interest on the Securities of that series in accordance with the terms of the
Securities and this Indenture. 
 Section 10.02. Maintenance of Office or Agency. The Company will maintain in each
Place of Payment for any series of Securities an office or agency where Securities of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange, where
Securities may be surrendered for conversion and where notices and demands to or upon the Company or any Guarantor in respect of the Securities of that series and this Indenture may be served. The Company will give prompt written notice to the
Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company and each Guarantor hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and
demands. 
 The Company may also from time to time designate one or more other offices or agencies where the Securities of one
or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its
obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of
any such other office or agency. 
 With respect to any Global Security, and except as otherwise may be specified for such
Global Security as contemplated by Section 3.01, the Corporate Trust Office of the Trustee shall be the Place of Payment where such Global Security may be presented or surrendered for payment or for registration of transfer or exchange,
or where successor Securities may be delivered in exchange therefor, provided, however, that any such payment, presentation, surrender or delivery effected pursuant to the Applicable Procedures of the Depositary for such Global
Security shall be deemed to have been effected at the Place of Payment for such Global Security in accordance with the provisions of this Indenture. 
 Section 10.03. Money for Securities Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before
each due date of the principal of or any premium or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and any premium and interest so
becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 
  

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 Whenever the Company shall have one or more Paying Agents for any series of Securities, it
will, on or prior to 11:00 A.M., New York City time, on each due date of the principal of or any premium or interest on any Securities of that series, deposit (or, if the Company has deposited any trust funds with a trustee pursuant to
Section 12.04(1), cause such trustee to deposit) with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company will promptly
notify the Trustee of its action or failure so to act. 
 The Company will cause each Paying Agent for any series of Securities
other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will (1) comply with the provisions of the
Trust Indenture Act applicable to it as a Paying Agent and (2) during the continuance of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment in respect of the Securities of that
series, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of that series. 
 The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or
by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 
 Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or any premium or interest on any Security of any series and remaining
unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall
thereafter, as an [unsecured] general creditor, look only to the Company or such Guarantor, as the case may be, for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the
Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may, at the direction and expense of the Company or such Guarantor, as the
case may be, cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in The City of New York, notice that such money remains unclaimed and that, after a date
specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company or the applicable Guarantor, as the case may be. 
 Section 10.04. Corporate Existence. Subject to Article VIII, the Company will do or cause to be done all things necessary
to preserve and keep in full force and effect its corporate existence. 
 Section 10.05. Statement by Officers as to
Default. The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company ending after the date

  

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hereof, an Officers’ Certificate stating whether or not to the best knowledge of the signers thereof the Company is in default in the performance and observance of any of the terms,
provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided hereunder) and, if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may
have knowledge; 
 Section 10.06. Waiver of Certain Covenants. Except as otherwise provided pursuant to
Section 3.01 for all or any Securities of any series, the Company may, with respect to all or any Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in
Section 10.04 or in any covenant provided pursuant to Section 3.01(18), Section 9.01(4), Section 9.01(8) or Section 9.01(9) for the benefit of the Holders of such series or in Article
VIII if, before the time for such compliance, the Holders of a majority in principal amount (including waivers obtained in connection with a purchase of, or tender offer or exchange offer for, Securities) of all Outstanding Securities affected
by such waiver (considered together as one class for this purpose and such affected Securities potentially being Securities of the same or different series and, with respect to any particular series, potentially comprising fewer than all the
Securities of such series) shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or
condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and
effect. A waiver of compliance given by or on behalf of any Holder of Securities in connection with a purchase of, or tender or exchange offer for, such Holder’s Securities will not be rendered invalid by such purchase, tender or exchange.

 ARTICLE XI 
 REDEMPTION OF SECURITIES 
 Section 11.01. Applicability of
Article. Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by Section 3.01 for such Securities) in
accordance with this Article. 
 Section 11.02. Election to Redeem; Notice to Trustee. The election of the Company
to redeem any Securities shall be established in or pursuant to a Board Resolution or in another manner specified as contemplated by Section 3.01 for such Securities. In case of any redemption at the election of the Company of less than
all the Securities of any series (including any such redemption affecting only a single Security), the Company shall, at least 45 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee),
notify the Trustee of such Redemption Date, of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities (1) prior to the
expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, or (2) pursuant to an election of the Company that is subject to a condition specified in the terms of the Securities of
the series to be redeemed, the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with such restriction or condition. 
  

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 Section 11.03. Selection by Trustee of Securities to Be Redeemed. If less than
all the Securities of any series are to be redeemed (unless all the Securities of such series and of a specified tenor are to be redeemed or unless such redemption affects only a single Security), the particular Securities to be redeemed shall be
selected not more than 40 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for
the selection for redemption of a portion of the principal amount of any Security of such series, provided that the unredeemed portion of the principal amount of any Security shall be in an authorized denomination (which shall not be less than the
minimum authorized denomination) for such Security. If less than all the Securities of such series and of a specified tenor are to be redeemed (unless such redemption affects only a single Security), the particular Securities to be redeemed shall be
selected not more than 40 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series and specified tenor not previously called for redemption in accordance with the preceding sentence. 
 If any Security selected for partial redemption is converted in part before termination of the conversion right with respect to the portion
of the Security so selected, the converted portion of such Security shall be deemed (so far as it may be) to be the portion selected for redemption. Securities which have been converted during a selection of Securities to be redeemed shall be
treated by the Trustee as Outstanding for the purpose of such selection. 
 The Trustee shall promptly notify the Company and
each Security Registrar in writing of the Securities selected for redemption as aforesaid and, in case of any Securities selected for partial redemption as aforesaid, the principal amount thereof to be redeemed. 
 The provisions of the two preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether such
Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum authorized
denomination) for such Security. 
 For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. 
 Section 11.04. Notice of Redemption. Notice of redemption shall be given in the manner provided in Section 1.06 not
less than 30 days nor more than 60 days prior to the Redemption Date (or within such period as otherwise specified as contemplated by Section 3.01 for the relevant Securities), to each Holder of Securities to be redeemed, at his address
appearing in the Security Register. 
 All notices of redemption shall identify the Securities to be redeemed (including CUSIP
numbers, if any) and shall state: 
 (1) the Redemption Date, 
 (2) the Redemption Price, 
  

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 (3) if less than all the Outstanding Securities of any series consisting of more than a
single Security are to be redeemed, the identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the Outstanding Securities of any series
consisting of a single Security are to be redeemed, the principal amount of the particular Security to be redeemed, 
 (4) that
on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date, 
 (5) the place or places where each such Security is to be surrendered for payment of the Redemption Price, 
 (6) for any Securities that by their terms may be converted, the terms of conversion, the date on which the right to convert the Security to
be redeemed will terminate and the place or places where such Securities may be surrendered for conversion, and 
 (7) that the
redemption is for a sinking fund, if such is the case. 
 Notice of redemption of Securities to be redeemed at the election of
the Company shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company. 
 Section 11.05. Deposit of Redemption Price. Prior to 11:00 A.M., New York City time, on any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the
Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 10.03) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date)
accrued interest on, all the Securities which are to be redeemed on that date, other than any Securities called for redemption on that date which have been converted prior to the date of such deposit. 
 If any Security called for redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated and held
in trust for the redemption of such Security shall (subject to any right of the Holder of such Security or any Predecessor Security to receive interest as provided in the last paragraph of Section 3.07 or in the terms of such Security)
be paid to the Company upon Company Request or, if then held by the Company, shall be discharged from such trust. 
 Section 11.06. Securities Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein
specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of any such Security for redemption in accordance
with said notice, such Security shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date; provided, however, that, unless otherwise specified as contemplated by
Section 3.01, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on
the relevant Record Dates according to their terms and the provisions of Section 3.07. 
  

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 If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal and any premium shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 
 Section 11.07. Securities Redeemed in Part. Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so
requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee
shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized denomination as requested by such Holder, in aggregate principal amount equal
to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 
 ARTICLE XII 

DEFEASANCE AND COVENANT DEFEASANCE 
 Section 12.01. Company’s Option to Effect Defeasance or Covenant Defeasance. Unless otherwise designated pursuant to Section 3.01(15), the Securities of any series of
Securities shall be subject to defeasance or covenant defeasance pursuant to such Section 12.02 or Section 12.03, in accordance with any applicable requirements provided pursuant to Section 3.01 and upon
compliance with the conditions set forth below in this Article. The Company may elect, at its option, at any time, to have Section 12.02 or Section 12.03 applied to any Securities or any series of Securities so subject to
defeasance or covenant defeasance. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 3.01 for such Securities. 
 Section 12.02. Defeasance and Discharge. Upon the Company’s exercise of its option (if any) to have this Section applied to
any Securities or any series of Securities, as the case may be, the Company shall be deemed to have been discharged from its obligations, and the provisions of Article XIV (and the provisions of the last paragraph of
Section 13.01) shall cease to be effective, with respect to such Securities as provided in this Section on and after the date the conditions set forth in Section 12.04 are satisfied (hereinafter called
“Defeasance”). For this purpose, such Defeasance means that the Company and the Guarantors of the Securities shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and to have
satisfied all their other respective obligations under such Securities and this Indenture insofar as such Securities or such Guarantees are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the
same), subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of such Securities to receive, solely from the trust fund described in Section 12.04(1) and as more
fully set forth in such Section, payments in respect of the principal of and any premium and interest on such Securities when payments are due, (2) the obligations of the Company and the Guarantors of the Securities of such series with respect
to such Securities under Section 3.04, Section 3.05, Section 3.06, Section 10.02 and Section 10.03, (3) the rights,

  

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powers, trusts, duties and immunities of the Trustee hereunder and (4) this Article. Subject to compliance with this Article, the Company may exercise its option (if any) to have this
Section applied to any Securities notwithstanding the prior exercise of its option (if any) to have Section 12.03 applied to such Securities. Upon the effectiveness of defeasance with respect to any series of Securities, each Guarantor
of the Securities of such series shall (except as provided in clause (2) of the next preceding sentence) be automatically and unconditionally released and discharged from all of its obligations under its Guarantee of the Securities of such
series and all of its other obligations under this Indenture in respect of the Securities of such series, without any action by the Company, any Guarantor or the Trustee and without the consent of the Holders of any Securities. 
 Section 12.03. Covenant Defeasance. Upon the Company’s exercise of its option (if any) to have this Section applied to any
Securities or any series of Securities, as the case may be, (1) the Company shall be released from its obligations under Section 10.04 and any covenants provided pursuant to Section 3.01(18), Section 9.01(4),
Section 9.01(10) or Section 9.01(10) for the benefit of the Holders of such Securities, (2) the occurrence of any event specified in Section 5.01(3) (with respect to Section 10.04 and any such
covenants provided pursuant to Section 3.01(18), Section 9.01(4), Section 9.01(10) or Section 9.01(10) and Section 5.01(6) shall be deemed not to be or result in an Event of Default and
(3) the provisions of Article XIV (and the provisions of the last paragraph of Section 13.01) shall cease to be effective, in each case with respect to such Securities as provided in this Section on and after the date the
conditions set forth in Section 12.04 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities, the Company and any Guarantor
may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section (to the extent so specified in the case of Section 5.01(3)) or Article XIV or the last
paragraph of Section 13.01, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any
other document, but the remainder of this Indenture and such Securities and any Guarantees thereof shall be unaffected thereby. 
 Section 12.04. Conditions to Defeasance or Covenant Defeasance. The following shall be the conditions to the application of Section 12.02 or Section 12.03 to any Securities or any series of Securities, as
the case may be: 
 (1) The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another
trustee which satisfies the requirements contemplated by Section 6.09 and agrees to comply with the provisions of this Article applicable to it) as trust funds in trust for the purpose of making the following payments, specifically
pledged as security for, and dedicated solely to, the benefits of the Holders of such Securities, (A) money in an amount, or (B) U.S. Government Obligations which through the scheduled payment of principal and interest in respect thereof
in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or (C) such other obligations or arrangements as may be specified as contemplated by Section 3.01 with
respect to such Securities, or (D) a combination thereof, in each case sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay
and discharge, and which shall be applied by the Trustee (or any such other

  

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qualifying trustee) to pay and discharge, the principal of and any premium and interest on such Securities on the respective Stated Maturities, in accordance with the terms of this Indenture and
such Securities. As used herein, “U.S. Government Obligation” means (x) any security which is (i) a direct obligation of the United States of America for the payment of which the full faith and credit of the United
States of America is pledged or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit
obligation by the United States of America, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a) (2) of
the Securities Act) as custodian with respect to any U.S. Government Obligation which is specified in Clause (x) above and held by such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of
principal of or interest on any U.S. Government Obligation which is so specified and held, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary
receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt. 
 (2) In the event of an election to have Section 12.02 apply to any Securities or any series of Securities, as the case may be,
the Company shall have delivered to the Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date of this instrument, there has
been a change in the applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of such Securities will not recognize gain or loss for Federal income tax
purposes as a result of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit,
Defeasance and discharge were not to occur. 
 (3) In the event of an election to have Section 12.03 apply to any
Securities or any series of Securities, as the case may be, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a
result of the deposit and Covenant Defeasance to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant
Defeasance were not to occur. 
 (4) The Company shall have delivered to the Trustee an Officers’ Certificate to the effect
that neither such Securities nor any other Securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit. 
 (5) No event which is, or after notice or lapse of time or both would become, an Event of Default with respect to such Securities or any other Securities (other than such an event or Event of Default
solely with respect to such Securities resulting from the borrowing of funds to be applied to such deposit) shall have occurred and be continuing at the time of such deposit. 
  

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 (6) Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or
constitute a default under, any other agreement or instrument to which the Company is a party or by which it is bound. 
 (7)
The Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with the intent of preferring the Holders of such Securities over the other creditors of the Company or with the
intent of defeating, hindering, delaying or defrauding creditors of the Company. 
 (8) The Company shall have delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 
 Section 12.05. Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions. Subject to the
provisions of the last paragraph of Section 10.03, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and
Section 12.06, the Trustee and any such other trustee are referred to collectively as the “Trustee”) pursuant to Section 12.04 in respect of any Securities shall be held in trust and applied by the
Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any such Paying Agent (including the Company acting as its own Paying Agent or any Guarantor of the Securities of the
applicable series or any Subsidiary or Affiliate of the Company or any such Guarantor acting as Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any
premium and interest, but money and U.S. Government Obligations so held in trust need not be segregated from other funds except to the extent required by law. Money and U.S. Government Obligations (including the proceeds thereof) so held in trust
shall not be subject to the provisions of Article XIV, provided that the applicable conditions of Section 12.04 have been satisfied. 
 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 12.04 or the
principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of Outstanding Securities. 
 Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or U.S. Government Obligations held by it as
provided in Section 12.04 with respect to any Securities which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the
amount thereof which would then be required to be deposited to effect the Defeasance or Covenant Defeasance, as the case may be, with respect to such Securities. 
 Section 12.06. Reinstatement. If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with respect to any Securities by reason of any order or judgment
of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the respective obligations under this Indenture and such Securities and, if

  

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applicable, Guarantees of such Securities from which the Company and the applicable Guarantors have been discharged or released pursuant to Section 12.02 or Section 12.03
shall be revived and reinstated as though no deposit had occurred pursuant to this Article with respect to such Securities, until such time as the Trustee or Paying Agent is permitted to apply all money held in trust pursuant to
Section 12.05 with respect to such Securities in accordance with this Article; provided, however, that if the Company or any Guarantor makes any payment of principal of or any premium or interest on any such Security
following such reinstatement of its obligations, the Company or such Guarantor, as the case may be, shall be subrogated to the rights (if any) of the Holders of such Securities to receive such payment from the money so held in trust. 
 ARTICLE XIII 
 GUARANTEES 
 Section 13.01. Guarantees. Securities of any series that are to be guaranteed by the
Guarantees of any Guarantors shall be guaranteed by such Guarantors as shall be established pursuant to Section 3.01 with respect to the Securities of such series. The Persons who shall initially be the Guarantors of the Securities of
any such series may, but need not, include any or all of the Initial Guarantors and may include any and all such other Persons as the Company may determine; provided that, prior to the authentication and delivery upon original issuance of
Securities that are to be guaranteed by a Person that is not an Initial Guarantor, the Company, the Trustee and such Person shall enter into a supplemental indenture pursuant to Section 9.01 hereof whereby such Person shall become a
Guarantor under this Indenture. 
 Securities of any series that are to be guaranteed by the Guarantees of any Guarantors shall
be guaranteed in accordance with the terms of such Guarantees as established pursuant to Section 3.01 with respect to such Securities and such Guarantees thereof and (except as otherwise specified as contemplated by
Section 3.01 for such Securities and such Guarantees thereof) in accordance with this Article. 
 Each Guarantor of
any Security hereby fully and unconditionally guarantees to each Holder of such Security, and to the Trustee on behalf of such Holder and for itself, the due and punctual payment of the principal of, and premium, if any, and interest, if any, on
such Security when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, call for redemption or otherwise, and all other amounts owed hereunder, all in accordance with the terms of such
Security and of this Indenture. In case of the failure of the Company punctually to make any such payment, such Guarantor hereby agrees to cause such payment to be made punctually when and as the same shall become due and payable, whether at the
Stated Maturity or by declaration of acceleration, call for redemption or otherwise, and as if such payment were made by the Company. 
 The Guarantor of any Security hereby agrees that its obligations hereunder shall be absolute and unconditional irrespective of, and shall be unaffected by, any invalidity, irregularity or unenforceability of such Security or this Indenture,
any failure to enforce the provisions of such Security or this Indenture, or any waiver, modification or indulgence granted to the Company with respect thereto, by the Holder of such Security or the Trustee or any other circumstance which may
otherwise constitute a legal or equitable discharge or defense of a

  

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surety or guarantor; provided, however, that, notwithstanding the foregoing, no such waiver, modification or indulgence shall, without the consent of any Guarantor, increase the
principal amount of such Security, or increase the interest rate thereon, change any redemption provisions thereof (including any change to increase any premium payable upon redemption thereof) or change the Stated Maturity of any payment thereon,
or increase the principal amount of any Original Issue Discount Security that would be due and payable upon a declaration of acceleration or the maturity thereof pursuant to Section 5.02 of this Indenture. 
 The Guarantor of any Security hereby waives the benefits of diligence, presentment, demand for payment, any requirement that the Trustee or
any of the Holders exhaust any right or take any action against the Company or any other Person, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company,
protest or notice with respect to any Security or the indebtedness evidenced thereby and all demands whatsoever, and covenants that its obligations hereunder will not be discharged in respect of such Security except by complete performance of the
obligations of such Guarantor contained in such Security and in this Indenture. Any Guarantee of any Guarantor hereunder shall constitute a guaranty of payment and not of collection. The Guarantor of any Security hereby agrees that, in the event of
a default in payment of principal, or premium, if any, or interest, if any, on such Security, whether at its Stated Maturity, by declaration of acceleration, call for redemption or otherwise, legal proceedings may be instituted by the Trustee on
behalf of, or by, the Holder of such Security, subject to the terms and conditions set forth in this Indenture, directly against such Guarantor to enforce the obligation of such Guarantor hereunder without first proceeding against the Company.

 The obligations of the Guarantor of any Security hereunder with respect to such Security shall be continuing and irrevocable
until the date upon which the entire principal of, premium, if any, and interest, if any, on such Security has been, or has been deemed pursuant to the provisions of Article Four of this Indenture to have been, paid in full or otherwise discharged.

 The Guarantor of any Security shall be subrogated to all rights of the Holders of such Security against the Company in
respect of any amounts paid by the Guarantor on account of such Security pursuant to the provisions of this Indenture; provided, however, that such Guarantor shall not be entitled to enforce or to receive any payments arising out of,
or based upon, such right of subrogation until the principal of, and premium, if any, and interest, if any, on all Securities issued hereunder that are due and payable shall have been paid in full. 
 The Guarantee by any Guarantor of any Security shall remain in full force and effect and continue notwithstanding any petition filed by or
against the Company for liquidation or reorganization, the Company becoming insolvent or making an assignment for the benefit of creditors or a receiver or trustee being appointed for all or any significant part of the Company’s assets, and
shall, to the fullest extent permitted by law, continue to be effective or reinstated, as the case may be, if at any time payment of such Security, is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or
returned by any Holder of such Security, whether as a “voidable preference,” “fraudulent transfer,” or otherwise, all as though such payment or performance had not been made. In the event that any payment, or any part thereof, is
rescinded, reduced, restored or returned on a Security, such Security shall, to the fullest extent permitted by law, be reinstated and deemed paid only by such amount paid and not so rescinded, reduced, restored or returned. 
  

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 No Guarantor shall consolidate with or merge into any other Person or sell, convey or
transfer all or substantially all its properties and assets to any Person, and no Guarantor shall permit any Person to consolidate with or merge into such Guarantor, in each case in a transaction in which the successor Person formed by such
consolidation or merger or to which such sale, conveyance or transfer is made is an Affiliate of the Company, and no Guarantor shall lease all or substantially all its properties and assets to any Person (whether or not such an Affiliate), unless,
in any such case: 
 (1) in case such Guarantor shall consolidate with or merge into another Person or sell, convey, transfer or
lease all or substantially all its properties and assets to any Person, the Person formed by such consolidation or into which such Guarantor is merged or the Person which acquires by sale, conveyance or transfer, or which leases, all or
substantially all the properties and assets of such Guarantor shall be a corporation, partnership or trust, shall be organized and validly existing under the laws of the United States, any state thereof or the District of Columbia and shall
expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, the performance or observance of every covenant of this Indenture and any Guarantees on the part of such
Guarantor to be performed or observed; 
 (2) immediately after giving effect to such transaction no Event of Default, and no
event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing; and 
 (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel stating that such consolidation, merger, sale, conveyance, transfer or lease and, if a supplemental indenture is required in connection
with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 
 Upon any consolidation of any Guarantor with, or merger of such Guarantor into, any other Person or any sale, conveyance, transfer or lease
of all or substantially all the properties and assets of such Guarantor in accordance with this paragraph, the successor Person formed by such consolidation or into which such Guarantor is merged or to which such sale, conveyance, transfer or lease
is made shall succeed to, and be substituted for, and may exercise every right and power of, such Guarantor under this Indenture with the same effect as if such successor Person had been named as such Guarantor herein, and thereafter, except in the
case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and any Guarantees of such Guarantor. 
 Upon (i) a consolidation or merger of any Guarantor with or into, or a sale, conveyance or transfer of all or substantially all the properties and assets of any Guarantor to, any other Person or any
consolidation or merger of any Person with or into any Guarantor, in each case in a transaction in which the successor Person formed by such consolidation or merger or to which such sale, conveyance or transfer is made is not an Affiliate of the
Company or (ii) any sale,

  

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conveyance or transfer (including by way of merger) by the Company or any Subsidiary thereof of all or substantially all the Capital Stock of any Guarantor to any Person that is not an Affiliate
of the Company, such Guarantor shall be deemed to be automatically and unconditionally released and discharged from all its obligations under its Guarantees and under this Article XIII without any further action required on the part of the
Trustee or any Holder. The Trustee shall deliver an appropriate instrument evidencing such release and discharge upon receipt of a Company Request accompanied by an Officers’ Certificate certifying as to the compliance with this paragraph of
Section 13.01. The Company may, at its option, at any time and from time to time, cause any Guarantor to be automatically and unconditionally released and discharged from all its obligations under its Guarantees with respect to
Securities of all series guaranteed by Guarantees of such Guarantor and under this Article XIII upon (i) any conditions for such release provided with respect to Securities of such series in accordance with Section 3.01
having been satisfied and (ii) delivery by the Company to the Trustee of a Company Order relating to such release and discharge. The Trustee shall deliver an appropriate instrument evidencing such release and discharge upon receipt of a Company
Request accompanied by an Officers’ Certificate certifying as to the compliance with this paragraph of Section 13.01. 
 Anything in this Indenture, the Securities or any Guarantee to the contrary notwithstanding, the obligations of any Guarantor under its Guarantees and this Indenture shall be limited to the maximum amount as will, after giving effect to all
other contingent and fixed liabilities of such Guarantor, result in the obligations of such Guarantor under its Guarantees and this Indenture not constituting a fraudulent advance or fraudulent transfer under any Bankruptcy Law, the Uniform
Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal, state or other law affecting the rights of creditors generally. 
 No Guarantee by any Guarantor of any Security, whether or not such Guarantee is or is to be endorsed thereon, shall be valid and obligatory for any purpose with respect to such Security until the
certificate of authentication on such Security shall have been signed by or on behalf of the Trustee. 
 The obligations of each
Guarantor under its Guarantees pursuant to this Article XIII are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Guarantor Debt of such Guarantor, in each case on the same basis as
the indebtedness represented by the Securities and the payment of the principal of (and premium, if any) and interest on the Securities are subordinate and subject in right of payment to the prior payment in full of all Senior Debt, mutatis
mutandis. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive or retain payments by any Guarantor only at such times as they may receive or retain payments and distributions in respect of the
Securities pursuant to this Indenture, including Article XIV hereof. 
 ARTICLE XIV 
 SUBORDINATION OF SECURITIES 
 Section 14.01. Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by his acceptance thereof, likewise covenants and agrees, that, to the
extent and in the manner hereinafter set forth in this Article XIV, the indebtedness represented by the Securities and the payment of the principal of (and premium, if any) and interest on each and all of the Securities are hereby expressly
made subordinate and subject in right of payment to the prior payment in full of all Senior Debt. 
  

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 Notwithstanding the foregoing, if a deposit referred to in Section 12.04(1) is made
pursuant to Section 12.02 or Section 12.03 with respect to any Securities (and provided all other conditions set out in Section 12.02 or Section 12.03, as applicable, shall have been satisfied with respect to such Securities),
then no money or U.S. Government Obligations so deposited, and no proceeds thereon, will be subject to any rights of holders of Senior Debt, including any such rights arising under this Article XIV. 
 Section 14.02. Payment Over of Proceeds Upon Dissolution, Etc. In the event of (a) any insolvency or bankruptcy case or
proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to the Company or to its creditors, as such, or to its assets, or (b) any liquidation, dissolution or other
winding up of the Company, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (c) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of the Company, then and in
any such event the holders of Senior Debt shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all Senior Debt (including any interest accruing thereon after the commencement of any such case or
proceeding), or provision shall be made for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, before the Holders of the Securities are entitled to receive any payment on account of
principal of (or premium, if any) or interest on the Securities, and to that end the holders of Senior Debt shall be entitled to receive, for application to the payment thereof, any payment or distribution of any kind or character, whether in cash,
property or securities, including any such payment or distribution which may be payable or deliverable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities, which may be payable or
deliverable in respect of the Securities in any such case, proceeding, dissolution, liquidation or other winding up event. 
 In
the event that, notwithstanding the foregoing provisions of this Section, the Trustee or the Holder of any Security shall have received any payment or distribution of assets of the Company of any kind or character, whether in cash, property or
securities, including any such payment or distribution which may be payable or deliverable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities, before all Senior Debt is paid in full
or payment thereof provided for, and if such fact shall, at or prior to the time of such payment or distribution, have been made known to the Trustee or, as the case may be, such Holder, then and in such event such payment or distribution shall be
paid over or delivered forthwith to the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee, agent or other Person making payment or distribution of assets of the Company for application to the payment of all Senior Debt
remaining unpaid, to the extent necessary to pay all Senior Debt in full, after giving effect to any concurrent payment or distribution to or for the holders of Senior Debt. Any taxes that have been withheld or deducted from any payment or
distribution in respect of the Securities, or any taxes that ought to have been withheld or deducted from any such payment or distribution that have been remitted to the relevant taxing authority, shall not be considered to be an amount that the
Trustee or the Holder of any Security receives for purposes of this Section. 
  

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 For purposes of this Article only, the words “cash, property or securities” shall
not be deemed to include shares of stock of the Company as reorganized or readjusted, or securities of the Company or any other corporation or other entity, provided for by a plan of reorganization or readjustment which are subordinated in right of
payment to all Senior Debt which may at the time be outstanding to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article. The consolidation of the Company with, or the merger of
the Company into, or the sale, conveyance, transfer or lease by the Company of all or substantially all its properties and assets to, another Person upon the terms and conditions set forth in Article VIII, or the liquidation or dissolution of
the Company following any such sale, conveyance or transfer, shall not be deemed a dissolution, winding up, liquidation, reorganization, assignment for the benefit of creditors or marshalling of assets and liabilities of the Company for the purposes
of this Section if the Person formed by such consolidation or into which the Company is merged or the Person which acquires by sale, conveyance, transfer or lease all or substantially all of such properties and assets, as the case may be, shall, as
a part of such consolidation, merger, sale, conveyance, transfer or lease, comply with the conditions set forth in Article VIII. 
 Section 14.03. Prior Payment to Senior Debt Upon Acceleration of Securities. In the event that any Securities are declared due and payable before their Stated Maturity, then and in such event
the holders of Senior Debt shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all Senior Debt or provision shall be made for such payment in cash, before the Holders of the Securities are entitled to
receive any payment (including any payment which may be payable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities) by the Company on account of the principal of (or premium, if any)
or interest on the Securities or on account of the purchase or other acquisition of Securities. 
 In the event that,
notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Security prohibited by the foregoing provisions of this Section, and if such fact shall, at or prior to the time of such payment, have been made
known to the Trustee or, as the case may be, such Holder, then and in such event such payment shall be paid over and delivered forthwith to the Company. 
 Section 14.04. No Payment When Senior Debt in Default. Subject to the last paragraph of this Section, (a) (i) in the event and during the continuation of any default in the payment
of principal of (or premium, if any) or interest on any Senior Debt beyond any applicable grace period with respect thereto, or (ii) in the event that any event of default with respect to any Senior Debt shall have occurred and be continuing
permitting the holders of such Senior Debt (or a trustee on behalf of the holders thereof) to declare such Senior Debt due and payable prior to the date on which it would otherwise have become due and payable, whether or not such Senior Debt has
been so accelerated (provided that, in the case of Clause (i) or Clause (ii), if such default in payment or event of default shall have been cured or waived or shall have ceased to exist and any such declaration of acceleration shall have been
rescinded or annulled, then such default in payment or event of default, as the case may be, shall be deemed not to have occurred for the purposes of this Section 14.04), or (b) in the event that any judicial proceeding shall be
pending with respect to any such default in payment or event of default that shall be deemed to have occurred for the purpose of this Section 14.04, then no payment (including any payment

  

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which may be payable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities) shall be made by the Company on account of principal of
(or premium, if any) or interest on the Securities or on account of the purchase or other acquisition of Securities. 
 In the
event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Security prohibited by the provisions of this Section 14.04, and if such fact shall, at or prior to the time of such
payment, have been made known to the Trustee or, as the case may be, such Holder, then and in such event such payment shall be paid over and delivered forthwith to the Company. 
 No default in payment or event of default with respect to any Senior Debt shall be deemed to be a default in payment or event of default of
the kind specified in Clause (a)(i) or (a)(ii) of this Section, and no judicial proceeding with respect to any such default in payment or event of default shall be deemed to be a judicial proceeding of the kind specified in Clause (b) of this
Section 14.04, if (x) the Company shall be disputing the occurrence or continuation of such default in payment or event of default, or any obligation purportedly giving rise to such default in payment or event of default, and
(y) no final judgment holding that such default in payment or event of default has occurred and is continuing shall have been issued. For this purpose, a “final judgment” means a judgment that is issued by a court having jurisdiction
over the Company or its property, is binding on the Company or its property, is in full force and effect and is not subject to judicial appeal or review (including because the time within which a party may seek appeal or review has expired),
provided that, if any such judgment has been issued but is subject to judicial appeal or review, it shall nevertheless be deemed to be a final judgment unless the Company shall in good faith be prosecuting such appeal or a proceeding for such review
and shall have obtained a stay of execution pending such appeal or review. Notwithstanding the foregoing, this paragraph shall not apply to any default in payment or event of default with respect to any Senior Debt as to which the Company has waived
the application of this paragraph in the instrument evidencing such Senior Debt or by which such Senior Debt is created, incurred, assumed or guaranteed by the Company. 
 Section 14.05. Payment Permitted in Certain Situations. Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any
time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 14.02 or
under the conditions described in Section 14.03 or Section 14.04, from making payments at any time of or on account of the principal of (and premium, if any) or interest on the Securities, or on account of the purchase or
other acquisition of Securities, or (b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any) or interest on the Securities or the retention of such
payment by the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article. 
 Section 14.06. Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all Senior Debt or the
provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, the Holders of the Securities

  

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shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article (equally and ratably with the holders of
indebtedness of the Company which by its express terms is subordinated to Indebtedness of the Company to substantially the same extent as the Securities are subordinated to the Senior Debt and is entitled to like rights of subrogation) to the rights
of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until the principal of (and premium, if any) and interest on the Securities shall be paid in full. For purposes
of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the Holders of the Securities or the Trustee would be entitled except for the provisions of this Article XIV, and
no payments over pursuant to the provisions of this Article XIV to the holders of Senior Debt by Holders of the Securities or the Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the
Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt. 
 Section 14.07.
Provisions Solely to Define Relative Rights. The provisions of this Article XIV are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Debt
on the other hand. Nothing contained in this Article XIV or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Debt and the Holders of the
Securities, the obligation of the Company, which is absolute and unconditional (and which, subject to the rights under this Article XIV of the holders of Senior Debt, is intended to rank equally with all other general obligations of the
Company), to pay to the Holders of the Securities the principal of (and premium, if any) and interest on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against
the Company of the Holders of the Securities and creditors of the Company other than the holders of Senior Debt; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon
default under this Indenture, subject to the rights, if any, under this Article XIV of the holders of Senior Debt to receive cash, property and securities otherwise payable or deliverable to the Trustee or such Holder. 
 Section 14.08. Trustee to Effectuate Subordination. Each Holder of a Security by his acceptance thereof authorizes and directs
the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article XIV and appoints the Trustee his attorney-in-fact for any and all such purposes. 
 Section 14.09. No Waiver of Subordination Provisions. No right of any present or future holder of any Senior Debt to enforce
subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any non-compliance by the
Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof any such holder may have or be otherwise charged with. 
 Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders of
the Securities, without incurring responsibility to the Holders of the Securities and without impairing or releasing the subordination provided in this Article or the

  

 72 

 
obligations hereunder of the Holders of the Securities to the holders of Senior Debt do any one or more of the following: (i) change the manner, place or terms of payment or extend the time
of payment of, or renew or alter, Senior Debt or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise
deal with any property pledged, mortgaged or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the collection of Senior Debt; and (iv) exercise or refrain from exercising any rights against the Company and
any other Person. 
 Section 14.10. Notice to Trustee. The Company shall give prompt written notice to the Trustee
of any fact known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Securities. Notwithstanding the provisions of this Article or any other provision of this Indenture, the Trustee shall not be
charged with knowledge of the existence of any facts which would prohibit the making of any payment to or by the Trustee in respect of the Securities, unless and until the Trustee shall have received written notice thereof from the Company or a
holder of Senior Debt or from any trustee therefor; and, prior to the receipt of any such written notice, the Trustee, subject to the provisions of Section 6.01, shall be entitled in all respects to assume that no such facts exist.

 Subject to the provisions of Section 6.01, the Trustee shall be entitled to rely on the delivery to it of a
written notice by a Person representing himself to be a holder of Senior Debt (or a trustee therefor) to establish that such notice has been given by a holder of Senior Debt (or a trustee therefor). In the event that the Trustee determines in good
faith that further evidence is required with respect to the right of any Person as a holder of Senior Debt to participate in any payment or distribution pursuant to this Article XIV, the Trustee may request such Person to furnish evidence to the
reasonable satisfaction of the Trustee as to the amount of Senior Debt held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under
this Article XIV, and if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. 
 Section 14.11. Reliance on Judicial Order or Certificate of Liquidating Agent. Upon any payment or distribution of assets of the
Company referred to in this Article XIV, the Trustee, subject to the provisions of Section 6.01, and the Holders of the Securities shall be entitled to rely upon any order or decree entered by any court of competent jurisdiction
in which such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee for
the benefit of creditors, agent or other Person making such payment or distribution, delivered to the Trustee or to the Holders of Securities, for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the
holders of Senior Debt and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article XIV. 
 Section 14.12. Trustee Not Fiduciary For Holders of Senior Debt. The Trustee shall not be deemed to owe any fiduciary duty to
the holders of Senior Debt and shall not be liable to any such holders or creditors if it shall in good faith pay over or distribute to Holders of Securities or

  

 73 

 
to the Company or to any other Person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article XIV or otherwise. With respect to the
holders of Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants or obligations as are specifically set forth in this Article XIV and no implied covenants or obligations with respect to holders of Senior Debt
shall be read into this Indenture against the Trustee. 
 Section 14.13. Rights of Trustee as Holder of Senior Debt;
Preservation of Trustees Rights. The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article XIV with respect to any Senior Debt which may at any time be held by it, to the same extent as any other
holder of Senior Debt and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder. 
 Nothing in
this Article XIV shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.07. 
 Section 14.14. Article Applicable to Paying Agents. In case at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder, the term “Trustee” as used in this
Article XIV shall in such case (unless the context otherwise requires) be construed as extending to and including such Paying Agent within its meaning as fully for all intents and purposes as if such Paying Agent were named in this Article
XIV in addition to or in place of the Trustee. 
 ARTICLE XV 
 SECURITY 
 Section 15.01. Security. If so
provided pursuant to Section 3.01 with respect to the Securities of any series, the Securities of such series may be secured by such property, assets or other collateral as may be specified in or pursuant to Section 3.01. Any
and all terms and provisions applicable to the security for the Securities of such series shall also be provided in or pursuant to Section 3.01, which may include, without limitation, provisions for the execution and delivery of such
security agreements, pledge agreements, collateral agreements and other similar or related agreements as the Company may elect and which may provide for the Trustee to act as collateral agent or in a similar or other capacity. The Trustee shall
comply with Sections 313(a)(5) and (6) and 313(b)(1) of the Trust Indenture Act and the Company shall comply with Sections 314(b), 314(c) and 314(d) of the Trust Indenture Act, in each case in respect of any secured Securities that may be
outstanding hereunder from time to time. 
 * * * * * 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument. 
  

 74 

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

			
	NAVISTAR INTERNATIONAL CORPORATION
		
	By:	 	 

			
	Name:	 	
	Title:	 	
	
	NAVISTAR, INC.

			
		
	By:	 	 

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

			
		
	By:	 	 

			
	Name:	 	
	Title:Form of Indenture for Senior Notes due 2021

 Exhibit 4.12 
 NAVISTAR INTERNATIONAL CORPORATION, 
 as Issuer 

 NAVISTAR, INC. 
 as Guarantor, 
 AND 
 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. 
 as Trustee 
  
  
 INDENTURE 

 Dated as of
[                    ], 2009 
  
  
 $1,000,000,000
aggregate principal amount of 
 [    ] % Senior Notes due 2021 

 TABLE OF CONTENTS 
  
  

					
	 	  	 	  	Page
	 ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
	  	1
	 Section 1.1.
	  	 Definitions
	  	1
	 Section 1.2.
	  	 Other Definitions
	  	35
	 Section 1.3.
	  	 Incorporation by Reference of Trust Indenture Act
	  	35
	 Section 1.4.
	  	 Rules of Construction
	  	35
		
	 ARTICLE II THE SECURITIES
	  	36
	 Section 2.1.
	  	 Form, Dating and Terms
	  	36
	 Section 2.2.
	  	 Execution and Authentication
	  	37
	 Section 2.3.
	  	 Registrar and Paying Agent
	  	38
	 Section 2.4.
	  	 Paying Agent To Hold Money in Trust
	  	38
	 Section 2.5.
	  	 Securityholder Lists
	  	39
	 Section 2.6.
	  	 Transfer and Exchange
	  	39
	 Section 2.7.
	  	 [Reserved]
	  	41
	 Section 2.8.
	  	 [Reserved]
	  	41
	 Section 2.9.
	  	 Mutilated, Destroyed, Lost or Stolen Securities
	  	41
	 Section 2.10.
	  	 Temporary Securities
	  	42
	 Section 2.11.
	  	 Cancellation
	  	42
	 Section 2.12.
	  	 Payment of Interest; Defaulted Interest
	  	42
	 Section 2.13.
	  	 Computation of Interest
	  	44
	 Section 2.14.
	  	 CUSIP Numbers
	  	44
		
	 ARTICLE III COVENANTS
	  	44
	 Section 3.1.
	  	 Application of Certain Covenants
	  	44
	 Section 3.2.
	  	 Payment of Principal, Premium, if any, Interest, if any and Additional Interest, if any
	  	45
	 Section 3.3.
	  	 Maintenance of Office or Agency
	  	45
	 Section 3.4.
	  	 Money for Securities Payments to be Held in Trust; Unclaimed Money
	  	46
	 Section 3.5.
	  	 Corporate Existence
	  	47
	 Section 3.6.
	  	 Reports by the Company
	  	47
	 Section 3.7.
	  	 Annual Review Certificate; Notice of Defaults or Events of Default
	  	48
	 Section 3.8.
	  	 Books of Record and Account
	  	48
	 Section 3.9.
	  	 Limitation on Liens
	  	48
	 Section 3.10.
	  	 Limitation on Incurrence of Indebtedness
	  	49
	 Section 3.11.
	  	 [Reserved]
	  	53
	 Section 3.12.
	  	 Limitation on Restricted Payments
	  	53
	 Section 3.13.
	  	 Limitation on Certain Asset Dispositions
	  	57
	 Section 3.14.
	  	 Limitation on Sale/Leaseback Transactions
	  	59
	 Section 3.15.
	  	 Limitation on Payment Restrictions Affecting Restricted Subsidiaries
	  	60
	 Section 3.16.
	  	 Limitation on Transactions with Affiliates
	  	61
	 Section 3.17.
	  	 Limitation on Guarantees by Restricted Subsidiaries
	  	63

					
		
	 ARTICLE IV CONSOLIDATION, MERGER OR SALE BY THE COMPANY
	  	64
	 Section 4.1.
	  	 Consolidation, Merger or Sale of Assets Permitted
	  	64
		
	 ARTICLE V REDEMPTION OF SECURITIES
	  	66
	 Section 5.1.
	  	 Applicability of Article
	  	66
	 Section 5.2.
	  	 Election to Redeem; Notice to Trustee
	  	66
	 Section 5.3.
	  	 Selection of Securities to be Redeemed
	  	66
	 Section 5.4.
	  	 Notice of Redemption
	  	67
	 Section 5.5.
	  	 Deposit of Redemption Price
	  	68
	 Section 5.6.
	  	 Securities Payable on Redemption Date
	  	68
	 Section 5.7.
	  	 Securities Redeemed in Part
	  	68
	 Section 5.8.
	  	 Optional Redemption
	  	68
	 Section 5.9.
	  	 Offer to Repurchase Upon a Change of Control
	  	69
		
	 ARTICLE VI DEFAULTS AND REMEDIES
	  	71
	 Section 6.1.
	  	 Events of Default
	  	71
	 Section 6.2.
	  	 Acceleration; Rescission and Annulment
	  	73
	 Section 6.3.
	  	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	73
	 Section 6.4.
	  	 Trustee May File Proofs of Claim
	  	74
	 Section 6.5.
	  	 Trustee May Enforce Claims Without Possession of Securities
	  	74
	 Section 6.6.
	  	 Delay or Omission Not Waiver
	  	74
	 Section 6.7.
	  	 Waiver of Past Defaults
	  	74
	 Section 6.8.
	  	 Control by Majority
	  	75
	 Section 6.9.
	  	 Limitation on Suits by Holders
	  	75
	 Section 6.10.
	  	 Rights of Holders to Receive Payment
	  	76
	 Section 6.11.
	  	 Application of Money Collected
	  	76
	 Section 6.12.
	  	 Restoration of Rights and Remedies
	  	76
	 Section 6.13.
	  	 Rights and Remedies Cumulative
	  	76
	 Section 6.14.
	  	 Waiver of Usury, Stay or Extension Laws
	  	77
	 Section 6.15.
	  	 Undertaking for Costs
	  	77
		
	 ARTICLE VII TRUSTEE
	  	78
	 Section 7.1.
	  	 Certain Duties and Responsibilities of the Trustee
	  	78
	 Section 7.2.
	  	 Rights of Trustee
	  	78
	 Section 7.3.
	  	 Trustee May Hold Securities
	  	79
	 Section 7.4.
	  	 Money Held in Trust
	  	80
	 Section 7.5.
	  	 Trustee’s Disclaimer
	  	80
	 Section 7.6.
	  	 Notice of Defaults
	  	80
	 Section 7.7.
	  	 Reports by Trustee to Holders
	  	80
	 Section 7.8.
	  	 Securityholder Lists
	  	80
	 Section 7.9.
	  	 Compensation and Indemnity
	  	81
	 Section 7.10.
	  	 Replacement of Trustee
	  	81

					
	 Section 7.11.
	  	 Acceptance of Appointment by Successor
	  	83
	 Section 7.12.
	  	 Eligibility; Disqualification
	  	83
	 Section 7.13.
	  	 Merger, Conversion, Consolidation or Succession to Business
	  	83
	 Section 7.14.
	  	 Appointment of Authenticating Agent
	  	84
		
	 ARTICLE VIII DISCHARGE OF INDENTURE; DEFEASANCE
	  	85
	 Section 8.1.
	  	 Termination of Company’s Obligations Under this Indenture
	  	85
	 Section 8.2.
	  	 Application of Trust Funds
	  	86
	 Section 8.3.
	  	 Company’s Option to Effect Defeasance or Covenant Defeasance
	  	86
	 Section 8.4.
	  	 Defeasance and Discharge
	  	86
	 Section 8.5.
	  	 Covenant Defeasance
	  	87
	 Section 8.6.
	  	 Conditions to Defeasance or Covenant Defeasance
	  	87
	 Section 8.7.
	  	 Deposited Money and Government Obligations to Be Held in Trust
	  	88
	 Section 8.8.
	  	 Repayment to Company
	  	89
	 Section 8.9.
	  	 Indemnity for Government Obligations
	  	89
		
	 ARTICLE IX SUPPLEMENTAL INDENTURES
	  	89
	 Section 9.1.
	  	 Supplemental Indentures Without Consent of Holders
	  	89
	 Section 9.2.
	  	 Supplemental Indentures with Consent of Holders
	  	90
	 Section 9.3.
	  	 Compliance with Trust Indenture Act
	  	91
	 Section 9.4.
	  	 Execution of Supplemental Indentures
	  	92
	 Section 9.5.
	  	 Effect of Supplemental Indentures
	  	92
		
	 ARTICLE X SUBSIDIARY GUARANTEES
	  	92
	 Section 10.1.
	  	 Subsidiary Guarantees
	  	92
	 Section 10.2.
	  	 Obligations of Subsidiary Guarantors Unconditional
	  	94
	 Section 10.3.
	  	 Limitation on Subsidiary Guarantors’ Liability
	  	94
	 Section 10.4.
	  	 Releases of Subsidiary Guarantees
	  	94
	 Section 10.5.
	  	 Application of Certain Terms and Provisions to Subsidiary Guarantors
	  	95
		
	 ARTICLE XI MISCELLANEOUS
	  	96
	 Section 11.1.
	  	 Trust Indenture Act Controls
	  	96
	 Section 11.2.
	  	 Notices
	  	96
	 Section 11.3.
	  	 Communication by Holders with other Holders
	  	97
	 Section 11.4.
	  	 Certificate and Opinion as to Conditions Precedent
	  	97
	 Section 11.5.
	  	 Statements Required in Certificate or Opinion
	  	97
	 Section 11.6.
	  	 When Securities Disregarded
	  	97
	 Section 11.7.
	  	 Rules by Trustee, Paying Agent and Registrar
	  	98
	 Section 11.8.
	  	 Legal Holidays
	  	98
	 Section 11.9.
	  	 GOVERNING LAW
	  	98
	 Section 11.10.
	  	 No Recourse Against Others
	  	98
	 Section 11.11.
	  	 Successors
	  	98
	 Section 11.12.
	  	 Multiple Originals
	  	98
	 Section 11.13.
	  	 Variable Provisions
	  	98

					
	 Section 11.14.
	  	 Qualification of Indenture
	  	98
	 Section 11.15.
	  	 Table of Contents; Headings
	  	99
	 Section 11.16.
	  	 Separability
	  	99
	 Section 11.17.
	  	 Benefits of Indenture
	  	99
	 Section 11.18.
	  	 Waiver of Jury Trial
	  	99
	 Section 11.19.
	  	 Force Majeure
	  	99
			
	 EXHIBIT A
	  	 Form of the Securities
	  	

 INDENTURE, dated as of
[                    ], 2009, among Navistar International Corporation, a Delaware corporation (the “Company”), Navistar,
Inc., a Delaware corporation (the “Guarantor”) and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee (the “Trustee”). 
 Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of (i) the
Company’s [    ]% Senior Notes due 2021 (the “Initial Securities”) and (ii) if and when issued, an unlimited amount of additional [    ]% Senior Notes due 2021 that may
be offered from time to time subsequent to the Issue Date (the “Additional Securities”). 
 ARTICLE I

 DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 1.1. Definitions. 
 “Acquired Indebtedness” of any
specified Person means Indebtedness of any other Person and its Restricted Subsidiaries existing at the time such other Person merged with or into or became a Restricted Subsidiary of such specified Person or assumed by the specified Person in
connection with the acquisition of assets from such other Person and not incurred by the specified Person in connection with or in anticipation of (a) such other Person and its Restricted Subsidiaries being merged with or into or becoming a
Restricted Subsidiary of such specified Person or (b) such acquisition by the specified Person. 
 “Additional
Securities” has the meaning ascribed to it in the second introductory paragraph of this Indenture. 
 “Affiliate” means, when used with reference to any Person, any other Person directly or indirectly controlling, controlled by, or under direct or indirect common control with, the referent Person, as the case may be. For
the purposes of this definition, “control” when used with respect to any specified Person means the power to direct or cause the direction of management or policies of the referent Person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative of the foregoing. 
 “Agent” means any Registrar, Paying Agent, authenticating agent or co-Registrar. 
 “Applicable Premium” means, with respect to a Security on any date of redemption, the greater of: 
 (1) 1.0% of the principal amount of such Security; and 
 (2) the excess, if any, of (i) the present value as of such date of redemption of (A) the redemption price of such
Security on November 1, 2014 (such redemption price being described under Section 5.8), plus (B) all required interest payments due on such Security through November 1, 2014 (excluding accrued but unpaid interest to the
date of redemption),

  

 1 

 
computed using a discount rate equal to the Treasury Rate as of such date of redemption plus 50 basis points, over (ii) the then outstanding principal of such Security. 
 “Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global
Security, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange. 
 “Asset Disposition” means any sale, transfer or other disposition (including, without limitation, by merger, consolidation or sale-and-leaseback transaction) of: 
 (1) shares of Capital Stock of a Restricted Subsidiary of the Company (other than directors’ qualifying shares) or

 (2) property or assets of the Company or any of its Restricted Subsidiaries (other than shares of Capital
Stock of the Company). 
 Notwithstanding the foregoing, an Asset Disposition shall not include: 
 (1) any sale, transfer or other disposition of shares of Capital Stock, property or assets by a Restricted Subsidiary of the
Company to the Company or to any Restricted Subsidiary of the Company; 
 (2) any sale, transfer or other
disposition of defaulted receivables for collection or any sale, transfer or other disposition of property or assets in the ordinary course of business, including, without limitation, sales of inventory in the ordinary course of its business and the
granting of any option or other right to purchase, lease or otherwise acquire inventory in the ordinary course of its business; 
 (3) dispositions of assets or shares of Capital Stock of a Restricted Subsidiary in a single market transaction or series of related transactions with an aggregate fair market value less than $10.0
million; 
 (4) the grant in the ordinary course of business of any license of patents, trademarks, registrations
therefor and other similar intellectual property; 
 (5) the granting of any Lien (or foreclosure thereon)
securing Indebtedness to the extent that such Lien is granted in compliance with Section 3.9 herein; 
 (6) any sale, transfer or other disposition constituting a Permitted Investment or Restricted Payment permitted by Section 3.12 herein; 
 (7) any disposition of assets or property in the ordinary course of business to the extent such property or assets are
surplus, negligible, obsolete, uneconomical, worn-out or no longer useful in the Company’s or any of its Subsidiaries’ business; 
 (8) the sale, lease, conveyance or disposition or other transfer of all or substantially all of the assets of the Company as permitted by Section 4.1 herein; 
  

 2 

 (9) sales of accounts receivable, equipment and related assets (including
contract rights) of the type specified in the definition of “Qualified Securitization Transaction” to a Securitization Subsidiary for the fair market value thereof; 
 (10) transfers of accounts receivable, equipment and related assets (including contract rights) of the type specified in the
definition of “Qualified Securitization Transaction” (or a fractional undivided interest therein) by a Securitization Subsidiary in a Qualified Securitization Transaction. 
 (11) any sale, transfer or other disposition of Capital Stock of, or Indebtedness or other securities of, any Unrestricted
Subsidiary that was formed or designated as an Unrestricted Subsidiary after the Issue Date; 
 (12) sale,
transfer or other disposition of cash or Cash Equivalents or any amounts received pursuant to an Interest Rate Agreement, Currency Agreement or Commodity Price Agreement; and 
 (13) the surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of
any kind. 
 “Asset Sale Offer Trigger Date” has the meaning set forth in Section 3.13 herein.

 “Attributable Indebtedness” in respect of a Sale/Leaseback Transaction involving an operating lease means,
as at the time of determination, the present value (discounted at the implied interest rate in such transaction compounded annually) of the total obligations of the lessee for rental payments during the remaining term of the lease included in such
Sale/Leaseback Transaction (including any period for which such lease has been extended). 
 “Authenticating
Agent” means any authenticating agent appointed by the Trustee pursuant to Section 7.14 herein. 
 “Average Life” means, as of the date of determination, with respect to any Indebtedness for borrowed money or Preferred Stock, the quotient obtained by dividing 
 (1) the sum of the products of the number of years from the date of determination to the dates of each successive scheduled
principal or liquidation value payments of such Indebtedness or Preferred Stock, respectively, and the amount of such principal or liquidation value payments, by 
 (2) the sum of all such principal or liquidation value payments. 
 “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act,
except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” shall be deemed to have beneficial ownership of all securities that
such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only upon occurrence of a subsequent condition (other than a condition that the Holders
waive one or more provisions of this Indenture). 
  

 3 

 “Board of Directors” means (i) with respect to a corporation, the
board of directors of the corporation, (ii) with respect to a partnership, the board of directors of the general partner of the partnership, and (iii) with respect to any other Person, the board or committee of such Person serving a
similar function. 
 “Board Resolution” means a copy of a resolution of the Board of Directors of the Company
or the equivalent body of any Subsidiary Guarantor, as applicable, certified by the Secretary or an Assistant Secretary of the Company, or the equivalent officer of any Subsidiary Guarantor, as applicable, to have been duly adopted by the Board of
Directors of the Company or the equivalent body of any Subsidiary Guarantor, as applicable, and to be in full force and effect on the date of the certificate, and delivered to the Trustee. 
 “Book-Entry Interest” means a depositary interest representing 100% beneficial interest in a Global Security. 

“Business Day,” means a day (other than Saturday or Sunday) on which Euroclear, Clearstream and the banks in New York
are open for business. 
 “Canadian Subsidiary” means any Foreign Subsidiary having its principal operations in
Canada. 
 “Capital Stock” means, with respect to any Person, any and all shares, interests, participations,
rights in, or other equivalents (however designated and whether voting or non-voting) of, such Person’s capital stock (or other ownership or profits interest, including, without limitation, partnership, member or trust interest), including each
class of Common or Preferred Stock of such Person, whether outstanding on the Issue Date or issued after the Issue Date, and any and all rights, warrants or options exchangeable for or convertible into such capital stock (other than any debt
securities convertible or exchangeable into such capital stock). 
 “Capitalized Lease Obligation” means
obligations under a lease that are required to be classified and accounted for as capital lease obligations under GAAP and, for purposes of this Indenture, the amount of such obligations at any date shall be the capitalized amount of such
obligations at such date, determined in accordance with GAAP. The Stated Maturity of such obligation shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be
terminated by the lessee without penalty. 
 “Cash Equivalents” means: 
 (1) United States dollars or in the case of any Foreign Subsidiary, such local currencies held by it from time to time in the
ordinary course of business; 
 (2) securities issued or directly and fully guaranteed or insured by the United
States government (or, in the case of a Canadian Subsidiary, Canadian government (federal or provincial)) or any agency or instrumentality of the United States government (or Canadian government) (provided that the full faith and credit of
the United States or Canada (federal or provincial, as the case may be), as the case may be, is pledged in support of those securities) having maturities of not more than twenty-four months from the date of acquisition; 
  

 4 

 (3) certificates of deposit and eurodollar time deposits with maturities of
twenty-four months or less from the date of acquisition, bankers’ acceptances with maturities not exceeding twenty-four months and overnight bank deposits, in each case, with any commercial bank incorporated under the laws of the United States,
any state thereof, the District of Columbia, Canada or any province or territory thereof and having capital and surplus in excess of $500.0 million and a Thomson Bank Watch Rating of “B” or better; 
 (4) repurchase obligations or securities lending arrangements for underlying securities of the types described in
clauses (2) and (3) above entered into with any financial institution meeting the qualifications specified in clause (3) above; 
 (5) commercial paper having a rating of at least “A-2” from S&P or “P-2” from Moody’s and in each case maturing within 270 days after the date of acquisition or asset backed
securities having a rating of at least “A” from S&P or “A2” from Moody’s and in each case maturing within thirty-six months after the date of acquisition; 
 (6) demand or time deposit accounts used in the ordinary course of business with overseas branches of commercial banks
incorporated under the laws of the United States of America, any state thereof or the District of Columbia (or in the case of a Canadian Subsidiary, Canada or any province or territory thereof), provided that such commercial bank has, at the
time of the Company’s or such Restricted Subsidiary’s Investment therein, (1) capital, surplus and undivided profits (as of the date of such institution’s most recently published financial statements) in excess of $100 million
and (2) the long-term unsecured debt obligations (other than such obligations rated on the basis of the credit of a Person other than such institution) of such institution, at the time of the Company’s or any Restricted Subsidiary’s
Investment therein, are rated at least “A” from S&P or “A2” from Moody’s; 
 (7)
obligations (including, but not limited to demand or time deposits, bankers’ acceptances and certificates of deposit) issued or guaranteed by a depository institution or trust company incorporated under the laws of the United States of America,
any state thereof or the District of Columbia (or in the case of a Canadian Subsidiary, Canada or any province or territory thereof), provided that (A) such instrument has a final maturity not more than one year from the date of purchase
thereof by the Company or any Restricted Subsidiary of the Company and (B) such depository institution or trust company has at the time of the Company’s or such Restricted Subsidiary’s Investment therein or contractual commitment
providing for such Investment, (x) capital, surplus and undivided profits (as of the date of such institution’s most recently published financial statements) in excess of $100 million and (y) the long-term unsecured debt obligations
(other than such obligations rated on the basis of the credit of a Person other than such institution) of such institution, at the time of the Company’s or such Restricted Subsidiary’s Investment therein or contractual commitment providing
for such Investment, are rated at least “A” from S&P or “A2” from Moody’s; 
 (8) in
the case of any Foreign Subsidiary, securities issued or directly and fully guaranteed or insured by the Federal Government of the country where the Foreign

  

 5 

 
Subsidiary is located, money market funds, demand or time deposits accounts, certificate of deposits, in each case denominated and payable in local currency and used in the ordinary course of the
business with reputable commercial banks located in the jurisdiction of organization of such Foreign Subsidiary; and 
 (9) money market funds at least 95% of the assets of which constitute Cash Equivalents of the kinds described in clauses (1) through (5) of this definition. 
 Notwithstanding the foregoing, Investments which would otherwise constitute Cash Equivalents of the kinds described in clauses (2), (3),
(4) and (5) that are permitted to have maturities in excess of twelve months shall only be deemed to be Cash Equivalents under this definition if and only if the total weighted average maturity of all Cash Equivalents of the kinds
described in clauses (2), (3), (4) and (5) does not exceed twelve months on an aggregate basis. 
 “Change of Control” means the occurrence of one or more of the following events: 
 (1)
any “person” or “group” (as such terms are used in Section 13(d) and 14(d) of the Exchange Act), other than employee or retiree benefit plans or trusts sponsored or established by the Company or Navistar, Inc., is or becomes
the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 35% or more of the combined voting power of the Company’s then outstanding Voting Stock;

 (2) the following individuals cease for any reason to constitute more than a majority of the number of
directors then serving on the Board of Directors of the Company: individuals who, on the Issue Date, constitute the Board of Directors and any new director whose appointment or election by the Board of Directors or nomination for election by the
Company’s stockholders was approved (a) by the vote of at least a majority of the directors then still in office or whose appointment, election or nomination was previously so approved or recommended or (b) with respect to directors
whose appointment of election to the Board of Directors was made by the holders of the Company’s nonconvertible junior preference stock, series B, by the holders of such preference stock; 
 (3) the shareholders of the Company shall approve any Plan of Liquidation (whether or not otherwise in compliance with the
provisions of this Indenture); 
 (4) the Company consolidates with or merges with or into another Person, other
than a merger or consolidation of the Company in which the holders of the Common Stock of the Company outstanding immediately prior to the consolidation or merger hold, directly or indirectly, at least a majority of the Common Stock of the surviving
corporation immediately after such consolidation or merger; or 
 (5) the Company or any Restricted Subsidiary of
the Company, directly or indirectly, sells, assigns, conveys, transfers, leases or otherwise disposes of, in one transaction or a series of related transactions, all or substantially all of the property or assets of the Company and the Restricted
Subsidiaries of the Company (determined on a

  

 6 

 
consolidated basis) to any Person; provided, that neither (a) the merger of a Restricted Subsidiary of the Company into the Company or into any Restricted Subsidiary of the Company nor
(b) a series of transactions involving the sale of Receivables or interests therein in the ordinary course of business by a Securitization Subsidiary in connection with a Qualified Securitization Transaction nor (c) the grant (but not the
foreclosure or realization) of a Lien on assets of the Company or any Restricted Subsidiary in connection with Indebtedness permitted pursuant to clause (3) under Section 3.10, shall be deemed to be a Change of Control. 
 For purposes of the foregoing, the transfer (by lease, assignment, sale or otherwise, in a single transaction or series of transactions) of all or
substantially all of the properties or assets of one or more Restricted Subsidiaries of the Company, the Capital Stock of which constitutes all or substantially all of the properties and assets of the Company, shall be deemed to be the transfer of
all or substantially all of the properties and assets of the Company. 
 “Clearstream” means Clearstream
Banking, societe anonyme, and any successor thereto. 
 “Commission” means the Securities and Exchange
Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then
the body performing such duties at such time. 
 “Commodity Agreement” means any commodity price/index swap,
futures or option contract or similar agreement or arrangement. 
 “Common Stock” of any Person means any and
all shares, interests or other participations in, and other equivalents (however designated and whether voting or non-voting) of such Person’s common stock, whether outstanding on the Issue Date or issued after the Issue Date, and includes,
without limitation, all series and classes of such common stock. 
 “Company” means Navistar International
Corporation, a Delaware corporation, or a successor Person. 
 “Company Order” and “Company
Request” mean, respectively, a written order or request signed in the name of the Company by two Officers, one of whom must be the Chairman of the Board, the President, the Chief Financial Officer, any Executive Vice President, Senior Vice
President or Vice President, the Treasurer, any Assistant Treasurer or the Controller of the Company. 
 “Consolidated
Cash Flow Available For Fixed Charges” of any Person means for any period the Consolidated Net Income of such Person for such period plus (to the extent Consolidated Net Income for such period has been reduced thereby): 
 (1) Consolidated Fixed Charges of such Person for such period; plus 
 (2) Consolidated Tax Expense of such Person for such period; plus 
  

 7 

 (3) the consolidated depreciation and amortization expense included in the
income statement of such Person prepared in accordance with GAAP for such period; plus 
 (4) any non-recurring
fees, expenses or charges related to any offering of Qualified Capital Stock, Permitted Investment, acquisition, recapitalization, disposition or incurrence of Indebtedness permitted under this Indenture (in each case, whether or not successful);
plus 
 (5) any non-recurring or unusual charges or expenses of such Person or its Restricted Subsidiaries
(which, for the avoidance of doubt, shall include the following items: restructuring, plant closure and consolidation, severance, relocation, contract termination, retention costs, employee termination and similar type items); plus 
 (6) any of the amounts set forth under “Supplemental Adjustments” for the nine months ended July 31, 2009 or,
to the extent applicable, fiscal 2008, as set forth in note 5 under the tables set forth under the heading “Supplemental Financial and Operating Data;” in the Offering Circular dated October [    ], 2009; 
 (7) any other non-cash charges to the extent deducted from or reflected in Consolidated Net Income except for any non-cash
charges that represent accruals of, or reserves for, cash disbursements to be made in any future accounting period; minus 
 (8) any non-cash items increasing Consolidated Net Income for such period, (other than the reversal of a prior accrual or reserve for cash items previously excluded from Consolidated Cash Flow Available
For Fixed Charges); minus 
 (9) all cash payments during such period relating to non-cash charges that were
added back in determining Consolidated Cash Flow Available For Fixed Charges in any prior period; minus 
 (10)
non-recurring or unusual gains or income of such Person and its Restricted Subsidiaries. 
 “Consolidated Cash Flow
Ratio” of any Person means, for any period, the ratio of 
 (1) Consolidated Cash Flow Available for
Fixed Charges of such Person for such period to 
 (2) Consolidated Fixed Charges for such period. 
 In the event that the Company or any Restricted Subsidiary incurs, assumes, guarantees, redeems, retires or extinguishes any Indebtedness
(other than Indebtedness incurred under any revolving credit facility unless such Indebtedness has been permanently repaid and has not been replaced) or issues or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the
period for which the Consolidated Cash Flow Ratio is being calculated but prior to or simultaneously with the event for which the calculation of the Consolidated Cash Flow Ratio is made (the “Consolidated Cash Flow Ratio Calculation
Date”), then the

  

 8 

 
Consolidated Cash Flow Ratio shall be calculated giving pro forma effect to such incurrence, assumption, guarantee, redemption, retirement or extinguishment of Indebtedness, or such issuance or
redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period. 
 For purposes of making the computation referred to above, Investments, acquisitions, dispositions, mergers, consolidations and discontinued operations (as determined in accordance with GAAP) that have
been made by the Company or any of its Restricted Subsidiaries during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Consolidated Cash Flow Ratio Calculation Date shall be
calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, consolidations and discontinued operations (and the change in any associated fixed charge obligations and the change in Consolidated Cash Flow
Available for Fixed Charges resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the
Company or any of its Restricted Subsidiaries since the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation or discontinued operation that would have required adjustment pursuant to this
definition, then the Consolidated Cash Flow Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, merger, consolidation or discontinued operation had occurred at the beginning of
the applicable four-quarter period. 
 Calculations of pro forma amounts in accordance with this definition shall be done in
good faith by a responsible financial or accounting officer of the Company and may give pro forma effect to any cost savings, operating expense reductions or synergies that have been realized during such period as if such actions had been
implemented at the beginning of such period and, except as otherwise provided herein, in accordance with Article 11 of Regulation S-X under the Securities Act or any successor provision. 
 If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be
calculated as if the rate in effect on the Consolidated Cash Flow Ratio Calculation Date had been the applicable rate for the entire period (taking into account any Interest Rate Protection Agreement applicable to such Indebtedness). Interest on a
Capitalized 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 Capitalized Lease Obligation in accordance
with GAAP. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the
applicable period except as set forth in the first paragraph of this definition. Interest on Indebtedness 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 Company may designate. 
  

 9 

 “Consolidated Fixed Charges” means, with respect to any Person for any
period, the sum of, without duplication, the amounts for such period, taken as a single accounting period, of: 
 (1) Consolidated Interest Expense; and 
 (2) all dividends or other distributions paid or accrued on
Disqualified Capital Stock of such Person or Preferred Stock of such Person’s Restricted Subsidiaries (except dividends payable in shares of Qualified Capital Stock). 
 In calculating “Consolidated Fixed Charges” for purposes of determining the denominator (but not the numerator) of this “Consolidated Fixed Charge Coverage Ratio,” 
 (1) interest on Indebtedness determined on a fluctuating basis as of the date of determination and which will continue to be
so determined thereafter shall be deemed to have accrued at a fixed rate per annum equal to the rate of interest on such Indebtedness in effect on the date of determination; 
 (2) if interest on any Indebtedness actually incurred on the date of determination may be optionally determined at an
interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate or other rates, then the interest rate in effect on the date of determination will be deemed to have been in effect during the relevant four-quarter
period reference; and 
 (3) notwithstanding the foregoing, interest on Indebtedness determined on a fluctuating
basis, to the extent such interest is covered by agreements relating to interest swap agreements, shall be deemed to accrue at the rate per annum resulting after giving effect to the operation of such agreements. 
 “Consolidated Interest Expense” means, with respect to any Person for any period, the aggregate of the net interest expense
of such Person and its Consolidated Subsidiaries for such period (after giving effect to any interest income), on a consolidated basis, as determined in accordance with GAAP, including: 
 (1) all amortization of original issue discount; 
 (2) the interest component of Capitalized Lease Obligations paid, accrued and/or scheduled to be paid or accrued by such
Person during such period; 
 (3) net cash payments, if any, made (less any net payments, if any, received) under
all Interest Rate Protection Agreements (including amortization of fees); 
 (4) all capitalized interest;

 (5) the interest portion of any deferred payment obligations for such period; and 
 (6) any interest expense on Indebtedness of another Person (other than Indebtedness incurred under Section 3.10(u)
unless the Company or any of its Restricted

  

 10 

 
Subsidiaries makes a payment with respect to such guarantees in which case the interest expense associated with such underlying Indebtedness shall be included) that is guaranteed by the Company
or any of its Restricted Subsidiaries or secured by a Lien on assets of the Company or any of its Restricted Subsidiaries, whether or not such guarantees or Liens is called upon; 
 and excluding: 
 (a) amortization or write-off of deferred financing fees, debt issuance costs, commissions, fees and expenses; and 
 (b) any non-cash interest imputed on any convertible debt securities (including the Convertible Subordinated Notes) as in
accordance with FSP APB 14-1. 
 “Consolidated Net Income” means, with respect to any Person for any period,
the consolidated net income (or deficit) of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, as determined in accordance with GAAP and before any reduction in respect of dividends accrued or paid on any Preferred
Stock, if any; provided, that any amounts received from any other Person (other than a Restricted Subsidiary) shall be included in Consolidated Net Income for that period to the extent of the amount that has been actually received by the
referent Person or a Restricted Subsidiary of the referent Person in the form of cash dividends or other cash distributions (other than payments in respect of debt obligations), and provided, further, that there shall be excluded:

 (1) any restoration to income of any contingency reserve, except to the extent that provision for such
contingency reserve was made out of Consolidated Net Income accrued at any time following the Issue Date; 
 (2)
any gain or loss, together with any related provisions for taxes, realized upon the sale or other disposition (including, without limitation, dispositions pursuant to sale-leaseback transactions) of any property or assets which are not sold or
otherwise disposed of in the ordinary course of business (provided that sales of Receivables or interests therein pursuant to Qualified Securitization Transactions shall be deemed to be in the ordinary course of business) and upon the sale or
other disposition of any Capital Stock of any Subsidiary of the referent Person; 
 (3) any extraordinary gain or
extraordinary loss together with any related provision for taxes and any one time gains or losses (including, without limitation, those related to the adoption of new accounting standards) realized by the referent Person or any of its Restricted
Subsidiaries during the period for which such determination is made; 
 (4) income or loss attributable to
discontinued operations (including, without limitation, operations disposed of during such period whether or not such operations were classified as discontinued); 
 (5) in the case of a successor to the referent Person by consolidation or merger or as a transferee of the referent
Person’s assets, any earnings of the successor corporation prior to such consolidation, merger or transfer of assets; 
  

 11 

 (6) for purposes of the covenant described under Section 3.12,
the net income of any Restricted Subsidiary of such Person (other than a Subsidiary Guarantor) which is subject to restrictions which prevent or limit the payment of dividends or the making of distributions to such Person to the extent of such
restrictions (except to the extent of the amount of dividends or distributions that have been paid to such Person or one or more Restricted Subsidiary not subject to any such restriction during the relevant period); 
 (7) non-cash compensation charges resulting from the application of Statement of Financial Accounting Standards
No. 123(R), including any such charges resulting from stock options, restricted stock grants, stock appreciation rights or other equity-incentive programs; 
 (8) effects of adjustments in such Person’s consolidated financial statements pursuant to GAAP resulting from the
application of recapitalization accounting or, if applicable, purchase accounting in relation to any consummated acquisition or the amortization or write-off of any amounts thereof, net of taxes; 
 (9) any non-cash impairment charge or asset write-off or write-down, including impairment charges or asset write-offs or
write-downs related to intangible assets, long-lived assets, investments in debt and equity securities or as a result of a change in law or regulation, in each case, pursuant to GAAP, and the amortization of intangibles arising pursuant to GAAP; and

 (10)(a) any net unrealized gain or loss (after any offset) resulting in such period from Commodity Agreements,
Currency Agreements, Interest Rate Protection Agreements or other derivative instruments and the application of Statement of Financial Accounting Standards No. 133; and (b) any net unrealized gain or loss (after any offset) resulting in
such period from currency translation gains or losses including those related to currency remeasurements of Indebtedness (including any net loss or gain resulting from Currency Agreements for currency exchange risk). 
 “Consolidated Net Tangible Assets” as of any date of determination means the total amount of assets of the Company and its
Consolidated Subsidiaries after deducting therefrom all current liabilities (excluding any current liabilities that by their terms are extendable or renewable at the option of the obligor thereon to a time more than twelve months after the time as
of which the amount thereof is being computed); total prepaid expenses and deferred charges; and all goodwill, trade names, trademarks, patents, licenses, copyrights and other intangible assets, all as set forth, or on a pro forma basis would be set
forth, on the consolidated balance sheet of the Company and its Consolidated Subsidiaries for the Company’s most recently completed fiscal quarter, prepared in accordance with GAAP. 
 “Consolidated Subsidiary” of any Person means a Restricted Subsidiary which for financial reporting purposes is or, in
accordance with GAAP, should be, accounted for by such Person as a consolidated Subsidiary. 
 “Consolidated Tax
Expense” means, with respect to any Person for any period, the aggregate of the U.S. Federal, state and local tax expense attributable to taxes based on income

  

 12 

 
and foreign income tax expenses of such Person and its Consolidated Subsidiaries for such period (net of any income tax benefit), determined in accordance with GAAP other than taxes (either
positive or negative) attributable to extraordinary or unusual gains or losses or taxes attributable to sales or dispositions of assets. 
 “Corporate Trust Office” means the office of the Trustee in which at any particular time its corporate trust business shall be principally administered, which office at the date hereof is
located at 2 North LaSalle Street, Suite 1020, Chicago, Illinois, 60602, Attention: Corporate Trust Administration. 
 “Convertible Subordinated Notes” means the Company’s convertible subordinated notes issued on the Issue Date and any convertible subordinated notes issued pursuant to the exercise of the over-allotment with respect to
the convertible subordinated notes issued on the Issue Date. 
 “Credit Agreement” means that certain ABL
Credit Agreement, dated as of June 15, 2007, by and among Navistar, Inc (formerly International Truck and Engine Corporation), IC Bus LLC, SST Truck Company LP, IC Bus of Oklahoma, LLC, Navistar Diesel of Alabama, LLC, Credit Suisse, as
Administrative Agent, and the other lenders named therein, providing for up to $200 million of revolving credit borrowings, including any related notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith,
and in each case as amended, restated, modified, renewed, refunded, replaced or refinanced from time to time, regardless of whether such amendment, restatement, modification, renewal, refunding, replacement or refinancing is with the same financial
institutions or otherwise. 
 “Credit Facilities” means, with respect to the Company or any of its Restricted
Subsidiaries, one or more debt facilities, including, without limitation, the Credit Agreement, or other financing arrangements (including, without limitation, commercial paper facilities or indentures) providing for revolving credit loans, term
loans, receivables financing (including through the sale of receivables), letters of credit or other long-term indebtedness, including any notes, mortgages, guarantees, collateral documents, instruments and agreements executed in connection
therewith, and any amendments, supplements, modifications, extensions, renewals, restatements or refundings thereof and any indentures or credit facilities or commercial paper facilities or receivables financings that replace, refund or refinance
any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount permitted to be borrowed thereunder or alters the maturity
thereof (provided that such increase in borrowings is permitted under Section 3.10) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, lender or group of lenders.

 “Currency Agreement” means any foreign exchange contract, currency swap agreement, currency forward, future
or option contract or other similar agreement or arrangement. 
 “DealCor Subsidiaries” means any Subsidiaries
owned as of the Issue Date by the Company or one of its Subsidiaries or acquired by the Company or one of its Subsidiaries after the Issue Date whose principal business is owning or operating a dealership of that sells products manufactured by the
Company or any of its Restricted Subsidiaries. 
  

 13 

 “Default” means any event which is, or after notice or passage of time or
both would be, an Event of Default. 
 “Definitive Security” means a certificated Security registered in the
name of the Holder thereof and issued in accordance with Section 2.6 hereof, in the form of Exhibit A hereto, except that such Security shall not bear the Global Security Legend and shall not have the “Schedule of
Exchanges of Interests in the Global Security” attached thereto. 
 “Depositary” means the Person
appointed by the Company to act as depositary with respect to the Global Securities, which shall initially be DTC. 
 “Depositary Interest” means a certificate or depositary interest representing 100% beneficial interest in a Global Security. 
 “Disqualified Capital Stock” means any Capital Stock that, other than solely at the option of the issuer thereof, by its terms (or by the terms of any security into which it is
convertible or exchangeable) is, or upon the happening of an event or the passage of time would be, required to be redeemed or repurchased, in whole or in part, prior to the first anniversary of the Maturity Date or has, or upon the happening of an
event or the passage of time would have, a redemption or similar payment due on or prior to the first anniversary of the Maturity Date, or is convertible into or exchangeable for debt securities at the option of the holder thereof at any time prior
to the first anniversary of the Maturity Date. 
 “DTC” means the Depository Trust Company, its nominees and
their respective successors and assigns. 
 “Euroclear” means Euroclear Bank S.A./N.V., as operator of the
Euroclear system, and any successor thereto. 
 “Event of Default” has the meaning set forth in
Section 6.1 herein. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 “Financial Services Segment” means the business the Company and its Subsidiaries consisting of (1) the
offer and sale of retail, wholesale and lease financing and/or other financial services products to finance the purchase or lease of products sold by the Company and its Restricted Subsidiaries or other manufacturers whose products are from time to
time sold through the dealer network of the Company and its Restricted Subsidiaries (2) the financing of wholesale and retail accounts receivable and (3) captive insurance business. 
 “Foreign Subsidiary” means any Restricted Subsidiary of the Company that is not organized under the laws of the United
States, any state thereof or the District of Columbia and any Subsidiary of such 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, the opinions and
pronouncements of the Public Company Accounting Oversight Board and statements and pronouncements of the Financial Accounting Standards Board or in

  

 14 

 
such other statements by such other entity as may be approved by a significant segment of the accounting profession of the United States, which are in effect as of the Issue Date, except for any
reports required to be delivered pursuant to Section 3.6, which shall be prepared in accordance with GAAP in effect on the date thereof. 
 “Global Securities” means, individually and collectively, each of the Restricted Global Securities and the Unrestricted Global Securities, issued in accordance with certain sections of
this Indenture. 
 “Global Security Legend” means the legend set forth in Section 2.1(b), which is
required to be placed on all Global Securities issued under this Indenture. 
 “Government Obligations” means
securities which are (i) direct obligations of the United States, for the payment of which its full faith and credit is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the
United States, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States, which are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt
issued by a bank or trust company as custodian with respect to any such Government Obligation or a specific payment of interest on or principal of any such Government Obligation held by such custodian for the account of the holder of a depositary
receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the Government
Obligation evidenced by such depositary receipt. 
 “guarantee” means any obligation, contingent or otherwise,
of any Person directly or indirectly guaranteeing any Indebtedness of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person: 
 (1) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such other Person
(whether arising by agreement to keepwell, to purchase assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise) or 
 (2) entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to
protect such obligee against loss in respect thereof (in whole or in part), provided that the term “guarantee” shall not include endorsements for collection or deposit in the ordinary course of business or customary contractual indemnities
or warranties not in connection with borrowing money. The term “guarantee” used as a verb has a corresponding meaning. 
 “Guarantor” means International Truck and Engine Corporation, a Delaware corporation, or a successor Person. 
 “Holder” or “Securityholder” means the Person in whose name a Security is registered in the Security Register. 
  

 15 

 “incur” means, with respect to any Indebtedness or other obligation of any
Person, to create, issue, incur (by conversion, exchange or otherwise), assume, guarantee or otherwise become liable in respect of such Indebtedness or other obligation or the recording, as required pursuant to GAAP or otherwise, of any such
Indebtedness or other obligation on the balance sheet of such Person (and “incurrence,” “incurred,” “incurable” and “incurring” shall have meanings correlative to the foregoing), provided that: 
 (1) any Indebtedness or Capital Stock of a Person existing at the time such Person becomes (after the Issue Date) a
Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise) of the Company shall be deemed to be incurred or issued, as the case may be, by such Restricted Subsidiary at the time it becomes a Restricted Subsidiary of the
Company; and 
 (2) any amendment, modification or waiver of any document pursuant to which Indebtedness was
previously incurred shall not be deemed to be an incurrence of Indebtedness unless and then only to the extent such amendment, modification or waiver increases the principal or premium thereof or interest rate thereon (including by way of original
issue discount). 
 “Indebtedness” means, with respect to any Person, at any date, any of the following,
without duplication: 
 (1) any liability, contingent or otherwise, of such Person (a) for borrowed money
(whether or not the recourse of the lender is to the whole of the assets of such Person or only to a portion thereof), (b) evidenced by a note, bond, debenture or similar instrument or letters of credit (including a purchase money obligation)
or (c) for the payment of money relating to a Capitalized Lease Obligation or other obligation (whether issued or assumed) relating to the accrued purchase price of property or services, but excluding trade accounts payable, deferred expenses,
deferred compensation and similar obligations of such Person arising in the ordinary course of business; 
 (2)
all conditional sale obligations and all obligations under any title retention agreement (even if the rights and remedies of the seller under such agreement in the event of default are limited to repossession or sale of such property), but excluding
trade accounts payable, deferred expenses, deferred compensation and similar obligations of such Person arising in the ordinary course of business or earn-out obligation until such obligation becomes a liability on the balance sheet of such Person
in accordance with GAAP; 
 (3) all obligations for the reimbursement of any obligor on any letter of credit,
banker’s acceptance or similar credit transaction entered into in the ordinary course of business; 
 (4)
all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien (other than in connection with property subject to a Qualified Securitization Transaction)
on any asset or property (including, without limitation, leasehold interests and any other

  

 16 

 
tangible or intangible property) of such Person, whether or not such Indebtedness is assumed by such Person or is not otherwise such Person’s legal liability; provided, that if the
obligations so secured have not been assumed by such Person or are otherwise not such Person’s legal liability, the amount of such Indebtedness for the purposes of this definition shall be limited to the lesser of the amount of such
Indebtedness secured by such Lien or the fair market value of the assets or property securing such Lien; 
 (5)
all Indebtedness of others (including all dividends of other Persons the payment of which is) guaranteed, directly or indirectly, by such Person or that is otherwise its legal liability or which such Person has agreed to purchase or repurchase or in
respect of which such Person has agreed contingently to supply or advance funds; 
 (6) all Disqualified Capital
Stock issued by such Person and Preferred Stock of such Person’s Restricted Subsidiary with the amount of Indebtedness represented by such Disqualified Capital Stock or Preferred Stock being equal to the greater of its voluntary or involuntary
liquidation preference and its maximum fixed repurchase price, but excluding accrued dividends if any; 
 (7) all
net amounts owing under Interest Rate Protection Agreements, Currency Agreements or Commodity Agreements; and 
 (8) all Attributable Indebtedness in respect of Sale/Leaseback Transactions entered into by such person. 
 For
purposes hereof, the “maximum fixed repurchase price” of any Disqualified Capital Stock which does not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Capital Stock as if such
Disqualified Capital Stock were purchased on any date on which Indebtedness shall be required to be determined pursuant to this Indenture, and if such price is based upon, or measured by, the fair market value of such Disqualified Capital Stock,
such fair market value shall be determined reasonably and in good faith by the Board of Directors of the issuer of such Disqualified Capital Stock. Notwithstanding the foregoing, Indebtedness shall not include: (i) any guarantees of obligations
of suppliers to the Company or any of its Restricted Subsidiaries that ensure timely delivery of products, tooling and other materials used in the production process or (ii) any customary contractual indemnities or warranties. 
 The amount of Indebtedness of any Person at any date shall be the outstanding balance without duplication at such 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 such date; provided that the amount outstanding at any time of any Indebtedness
issued with original issue discount is the full amount of such Indebtedness less the remaining unamortized portion of the original issue discount of such Indebtedness at such time as determined in accordance with GAAP. 
 “Indenture” means this Indenture, as originally executed or as amended or supplemented from time to time and shall include
the forms and terms of the Securities established as contemplated hereunder. 
  

 17 

 “Indirect Participant” means a person who holds an interest through a
Participant. 
 “Initial Securities” has the meaning ascribed to it in the second introductory
paragraph of this Indenture. 
 “Initial Subsidiary Guarantor” means Navistar, Inc., a direct subsidiary
of the Company that has guaranteed the Securities as of the Issue Date. 
 “Interest Rate Protection Agreement”
means any credit default swap or option agreement, interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement (whether from fixed to floating or from floating to fixed), interest
rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement. 
 “International Guarantee” means the guarantee of the Securities by the Guarantor pursuant to Article X herein. 
 “Investment” by any Person means any direct or indirect: 
 (1) loan, advance or other extension of credit or capital contribution (by means of transfers of cash or other property (valued at the fair market value thereof as of the date of transfer) to others or payments for property or services for
the account or use of others, or otherwise other than in the ordinary course of business) and any guarantee of Indebtedness of any other Person; 
 (2) purchase or acquisition of Capital Stock, bonds, notes, debentures or other securities or evidences of Indebtedness issued by any other Person (whether by merger, consolidation, amalgamation or
otherwise and whether or not purchased directly from the issuer of such securities or evidences of Indebtedness); and 
 (3) all other items that would be classified as investments (including, without limitation, purchases of assets outside the ordinary course of business) on a balance sheet of such Person prepared in accordance with GAAP. 
 If the Company or any Restricted Subsidiary of the Company sells or otherwise disposes of any Capital Stock of a direct or indirect
Restricted Subsidiary such that, after giving effect to such sale or disposition, such Person is no longer a Restricted Subsidiary of the Company, the Company will be deemed to have made an Investment on the date of any such sale or other
disposition equal to the fair market value of the Investment in such Subsidiary not sold or disposed of. For purposes of the definition of “Unrestricted Subsidiary” and Section 3.12 herein only, 
 (1) “Investment” shall include the portion (proportionate to the Company’s equity interest in such
Subsidiary) of the fair market value of the net assets of any Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided, that if such designation is made in connection with the acquisition
of such Subsidiary or the assets owned by such Subsidiary, the “Investment” in such Subsidiary shall be deemed to be the consideration paid in connection with such

  

 18 

 
acquisition; provided, further, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Company shall be deemed to continue to have a permanent
“Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to (a) the Company’s “Investment” in such 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 such Subsidiary at the time of such redesignation and 
 (2) any property transferred to or from an Unrestricted Subsidiary shall be valued at its fair market value at the time of such transfer, in each case as determined in good faith by the Board of
Directors. 
 “Investment Grade” means: 
 (1) with respect to S&P any of the rating categories from and including AAA to and including BBB-; and 
 (2) with respect to Moody’s any of the rating categories from and including Aaa to and including Baa3. 
 “Issue Date” means the original issue date of the Securities under this Indenture. 
 “Lien” means, with respect to any Person, any mortgage, pledge, lien, encumbrance, easement, restriction, covenant,
right-of-way, charge or adverse claim affecting tide or resulting in an encumbrance against real or personal property of such Person, or a security interest of any kind, including any conditional sale or other title retention agreement, any lease in
the nature thereof, any option, right of first refusal or other similar agreement to sell, in each case securing obligations of such Person and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or
equivalent statute or statutes) of any jurisdiction but excluding any such filing or agreement which reflects ownership by a third party of 
 (1) property leased to the referent Person or any of its Restricted Subsidiaries under a lease that is not in the nature of a conditional sale or title retention agreement or 
 (2) accounts, general intangibles or chattel paper sold to the referent Person. 
 “Master Intercompany Agreements” means: (i) the Amended and Restated Master Intercompany Agreement, dated as of
April 1, 2007, between Navistar Financial Corporation and Navistar, Inc. (formerly known as International Truck and Engine Corporation), and its related manufacturing subsidiaries and affiliates, as amended to the Issue Date; (ii) the
agreement, dated as of December 18, 1986, among Navistar International Corporation Canada, Navistar Financial Corporation Canada Inc. and General Electric Canadian Holdings Limited; (iii) the Intercompany Operating and Partnership
Agreement, dated as of December 1, 2008, by and among Navistar Financial, Inc. De C.V., Sociedad Financiera De Objeto Múltiple, E.N.R. and Navistar México, S.A. De C.V., (iv) one or more agreements serving some or all of the
same purposes of the agreements listed in clauses (i) through (iii) above entered into after the Issue Date among the Company or one of its Restricted Subsidiaries and one or more other Persons (including one or more Unrestricted
Subsidiaries) in the ordinary course of business on terms no less favorable to the Company and its Restricted Subsidiaries than the agreements in clauses (i), (ii) and (iii) and

  

 19 

 
(v) any amendment, modification, supplement or restatement from time to time of the agreements in clauses (i) through (iv); provided that none of the aforementioned agreements shall be
amended, modified, supplemented or restated in a manner adverse in any material respect to the interests of NIC and its Restricted Subsidiaries taken as a whole. 
 “Maturity Date” means November 1, 2021. 
 “Moody’s” means Moody’s Investors Service Inc., and its successors. 
 “Net
Available Proceeds” from any Asset Disposition by any Person means cash Cash Equivalents received (including by way of sale or discounting of a note, installment receivable or other receivable, but excluding any other consideration received
in the form of assumption by the acquirer of Indebtedness or other obligations relating to such properties or assets or received in any other non-cash form) therefrom by such Person, including any cash received by way of deferred payment or upon the
monetization or other disposition of any non-cash consideration (including notes or other securities) received in connection with such Asset Disposition, net of: 
 (1) all legal, title and recording tax expenses, commissions and other fees and expenses incurred (including, without
limitation, fees and expenses of accountants, brokers, printers and other similar entities) and all federal, state, foreign and local taxes required to be accrued as a liability as a consequence of such Asset Disposition; 
 (2) all payments made by such Person or its Restricted Subsidiaries on any Indebtedness which is secured by such assets in
accordance with the terms of any Lien upon or with respect to such assets or which must by the terms of such Lien, or in order to obtain a necessary consent to such Asset Disposition or by applicable law, be repaid out of the proceeds from such
Asset Disposition; 
 (3) all payments made with respect to liabilities associated with the assets which are the
subject of the Asset Disposition, including, without limitation, trade payables and other accrued liabilities; 
 (4) appropriate amounts to be provided by such Person or any Restricted Subsidiary thereof, as the case may be, as a reserve in accordance with GAAP against any liabilities associated with such assets and retained by such Person or any
Restricted Subsidiary thereof, as the case may be, after such Asset Disposition, including, without limitation, liabilities under any indemnification obligations and severance and other employee termination costs associated with such Asset
Disposition (but excluding any indemnification obligations and severance and other employee termination costs that, by their terms, will not be made prior to the Maturity Date), until such time as such amounts are no longer reserved or such reserve
is no longer necessary (at which time any remaining amounts will become Net Available Proceeds to be allocated in accordance with the provisions of Section 3.13(c) herein; and 
 (5) all distributions and other payments made to minority interest holders, if any, in Restricted Subsidiaries of such Person
or joint ventures as a result of such Asset Disposition. 
  

 20 

 “Net Cash Proceeds” with respect to any issuance or sale of Capital Stock,
means the cash proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or placement agents’ fees, listing fees, discounts or commissions and brokerage, consultant and other fees and charges
actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result of such issuance or sale (after taking into account any available tax credit or deductions and any tax sharing arrangements). 
 “NFC” means Navistar Financial Corporation, a Delaware corporation, or a successor Person. 
 “Non-U.S. Person” means a person who is not a U.S. person, as defined in Regulation S. 
 “Obligations” means any principal, premiums, interest, penalties, fees, indemnifications, reimbursements, damages,
Additional Interest, if any, and other liabilities payable under the documentation governing any indebtedness. 
 “Offer
to Purchase” means a written offer (the “Offer”) sent by the Company by first class mail, postage prepaid, to each Holder at its address appearing in the register for the Securities on the date of the Offer, offering to
purchase up to the principal amount of the Securities in such Offer at the purchase price specified in such Offer (as determined pursuant to this Indenture). Unless otherwise required by applicable law, the Offer shall specify an expiration date
(the “Expiration Date”) of the Offer to Purchase which shall be not less than 30 days nor more than 60 days after the date of such Offer and a settlement date (the “Purchase Date”) for purchase of such
Securities within five Business Days after the Expiration Date. The Company shall notify the Trustee at least 15 Business Days (or such shorter period as is acceptable to such Trustee) prior to the mailing of the Offer of the Company’s
obligation to make an Offer to Purchase, and the Offer shall be mailed by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company. The Offer shall contain all the information required by applicable
law to be included therein. The Offer shall contain all instructions and materials necessary to enable such Holders to tender such Securities pursuant to the Offer to Purchase. The Offer shall also state: 
 (1) the section of this Indenture pursuant to which the Offer to Purchase is being made; 
 (2) the Expiration Date and the Purchase Date; 
 (3) the aggregate principal amount of the outstanding Securities offered to be purchased by the Company pursuant to the Offer
to Purchase (including, if less than 100%, the manner by which such amount has been determined pursuant to Section 3.13 of this Indenture) (the “Purchase Amount”); 
 (4) the purchase price to be paid by the Company for each $1,000 aggregate principal amount of Securities accepted for
payment (as specified pursuant to this Indenture) (the “Purchase Price”); 
  

 21 

 (5) that the Holder may tender all or any portion of the Securities
registered in the name of such Holder and that any portion of a Security tendered must be tendered in $2,000 principal amount and integral multiples of $1,000 in excess thereof; 
 (6) the place or places where Securities are to be surrendered for tender pursuant to the Offer to Purchase; 
 (7) that interest on any Security not tendered or tendered but not purchased by the Company pursuant to the Offer to Purchase
will continue to accrue; 
 (8) that on the Purchase Date the Purchase Price will become due and payable upon
each Security being accepted for payment pursuant to the Offer to Purchase and that interest thereon shall cease to accrue on and after the Purchase Date; 
 (9) that each Holder electing to tender all or any portion of a Security pursuant to the Offer to Purchase will be required to surrender such Security at the place or places specified in the Offer prior
to the close of business on the Expiration Date (such Security being, if the Company or the Trustee so requires, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed
by the Holder thereof or his attorney duly authorized in writing); 
 (10) that Holders will be entitled to
withdraw all or any portion of Securities tendered if the Company (or its Paying Agent) receives, not later than the close of business on the fifth Business Day next preceding the Expiration Date, a telegram, telex, facsimile transmission or letter
setting forth the name of the Holder, the principal amount of the Securities the Holder tendered, the certificate number of the Security the Holder tendered and a statement that such Holder is withdrawing all or a portion of his tender; 

(11) that (I) if Securities in an aggregate principal amount less than or equal to the Purchase Amount are duly
tendered and not withdrawn pursuant to the Offer to Purchase, the Company shall purchase all such Securities and (II) if Securities in an aggregate principal amount in excess of the Purchase Amount are tendered and not withdrawn pursuant to the
Offer to Purchase, the Company shall purchase Securities having an aggregate principal amount equal to the Purchase Amount on a pro rata basis (with such adjustments as may be deemed appropriate so that only Securities in denominations of $2,000 or
integral multiples thereof shall be purchased); and 
 (12) that in the case of any Holder whose Security is
purchased only in part, the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of any authorized denomination as requested by such Holder, in all
aggregate principal amount equal to and in exchange for the unpurchased portion of the Security or Securities so tendered. 
 An
Offer to Purchase shall be governed by and effected in accordance with the provisions above pertaining to any Offer. 
  

 22 

 “Officer” means the Chairman of the Board, the President, the Chief
Financial Officer, any Executive Vice President, Senior Vice President or Vice President, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Assistant Secretary. 
 “Officers’ Certificate,” when used with respect to the Company, means a certificate signed by the Chairman of the
Board, the President, the Chief Financial Officer, any Executive Vice President, Senior Vice President or Vice President, the Treasurer, any Assistant Treasurer or the Controller of the Company. 
 “Opinion of Counsel” means a written opinion from legal counsel. Such other counsel may be an employee of or counsel to the
Company. 
 “Outstanding,” when used with respect to Securities, means, as of the date of determination, all
Securities theretofore authenticated and delivered under this Indenture, except: 
 (1) Securities theretofore
cancelled by the Trustee or delivered to the Trustee for cancellation; 
 (2) Securities, or portions thereof,
for whose payment or redemption money or Government Obligations in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust (if the Company shall
act as its own Paying Agent) for the Holders of such Securities; provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provisions therefor satisfactory to the Trustee
have been made; 
 (3) Securities, except to the extent provided in Section 8.4 and
Section 8.5 herein, with respect to which the Company has effected defeasance and/or covenant defeasance as provided in Article VIII herein; and 
 (4) Securities which have been paid pursuant to Section 2.12 herein or in exchange for or in lieu of which other
Securities have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide
purchaser in whose hands such Securities are valid obligations of the Company; provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder, or whether sufficient funds are available for redemption or for any other purpose and for the purpose of making the calculations required by Section 313 of the Trust Indenture Act,
Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be
protected in making such calculation or in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded.
Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the

  

 23 

 
Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or of
such other obligor. 
 “Pari Passu Debt” means any Indebtedness of the Company or a Subsidiary Guarantor
(including Additional Securities) that ranks equal in right of payment with the Securities or the Subsidiary Guarantee, as the case may be. 
 “Permitted Business” means (1) the lines of business conducted by the Company and its Restricted Subsidiaries on the Issue Date and businesses reasonably related, ancillary or
complementary thereto, including reasonably related extensions or expansions thereof, and (2) any unrelated business, to the extent that it is not material in size. 
 “Participant” means, with respect to DTC, a Person who has an account with DTC. 
 “Paying Agent” has the meaning provided in Section 2.3 herein, except that, for the purposes of Article VIII, the Paying Agent shall not be the Company or a
Subsidiary of the Company or an Affiliate of any of them. 
 “Permitted Investments” means: 
 (1) Investments in Cash Equivalents; 
 (2) guarantees of Indebtedness otherwise permitted under Section 3.10 (other than clause (y) thereof);

 (3) any Investment by the Company or any Restricted Subsidiary in or relating to a Securitization Subsidiary
that, in the good faith determination of the Company, are necessary or advisable to effect any Qualified Securitization Transaction or any repurchase obligation in connection therewith; 
 (4) deposits, including interest-bearing deposits, maintained in the ordinary course of business in banks; 
 (5) any acquisition of the Capital Stock of any Person and any Investment in another Person if as a result of such Investment
such other Person is merged with or consolidated into, or transfers or conveys all or substantially all of its assets to, the Company or a Restricted Subsidiary of the Company; provided, that after giving effect to any such acquisition or
Investment such Person shall become a Restricted Subsidiary of the Company or another Restricted Subsidiary of the Company; 
 (6) trade receivables and prepaid expenses, in each case arising in the ordinary course of business; provided, that such receivables and prepaid expenses would be recorded as assets of such Person
in accordance with GAAP; 
 (7) endorsements for collection or deposit in the ordinary course of business by such
Person of bank drafts and similar negotiable instruments of such other Person received as payment for ordinary course of business trade receivables; 
  

 24 

 (8) any swap, hedging or other derivative obligation with an unaffiliated
Person otherwise permitted by this Indenture (including, without limitation, any Currency Agreement, Commodity Agreement and any Interest Rate Protection Agreement otherwise permitted by this Indenture); 
 (9) Investments received as consideration for an Asset Disposition in compliance with Section 3.13 herein;

 (10) Investments acquired in exchange for the issuance of Capital Stock (other than Disqualified Capital
Stock) of the Company or acquired with the Net Cash Proceeds received by the Company after the Issue Date from the issuance and sale of Capital Stock (other than Disqualified Capital Stock) of the Company; provided that such Net Cash Proceeds are
used to make such Investment within 60 days of the receipt thereof and the amount of all such Net Cash Proceeds will be excluded from clause (3)(B) of Section 3.12(a); 
 (11) loans and advances to employees made in the ordinary course of business in an aggregate amount not to exceed $10.0
million at any one time outstanding; 
 (12) Investments outstanding on the Issue Date; 
 (13) Investments in the Company or a Restricted Subsidiary; 
 (14) Investments in securities of trade creditors, suppliers or customers received pursuant to any plan of reorganization,
restructuring, workout or similar arrangement of such trade creditor, supplier or customer or upon the compromise of any debt created in the ordinary course of business owing to the Company or a Subsidiary, whether through litigation, arbitration or
otherwise; 
 (15) Investments in any Person after the Issue Date having an aggregate fair market value (measured
on the date each Investment was made without giving effect to subsequent changes in value), when taken together with all other Investments made pursuant to this clause (15) that are at that time outstanding (after giving effect to any net cash
proceeds received from any sale, transfer or other disposition) not to exceed $75.0 million; 
 (16) Investments
in Navistar Financial Corporation, having an aggregate fair market value (measured on the date each Investment was made without giving effect to subsequent changes in value), when taken together with all other Investments made pursuant to this
clause (16) that are at that time outstanding not to exceed $100.0 million; 
 (17) Investments made
pursuant to the Support Agreement or Master Intercompany Agreements; 
 (18) extensions of loans, trade credit
and advances to, and guarantees in favor of customers and suppliers and lease, utility and similar deposits to the extent made in the ordinary course of business; and 
  

 25 

 (19) Investments consisting of the licensing or contribution of intellectual
property pursuant to joint marketing arrangement with other Persons. 
 “Permitted Joint Venture” means any
Person which is, directly or indirectly, through its subsidiaries or otherwise, engaged principally in any business in which the Company is engaged, or a reasonably related, ancillary or complimentary business, and the Capital Stock of which is
owned, or acquired in compliance with the terms of the Indenture, by the Company or a Restricted Subsidiary and owned by one or more Persons other than the Company or any Affiliate of the Company. 
 “Permitted Liens” mean: 
 (1) Liens for taxes, assessments and governmental charges (other than any Lien imposed by the Employee Retirement Income Security Act of 1974, as amended) that are not yet delinquent or are being
contested in good faith by appropriate proceedings promptly instituted and diligently conducted and for which adequate reserves have been established or other provisions have been made in accordance with generally accepted accounting principles;

 (2) statutory mechanics’, workmen’s, materialmen’s, operators’ or similar Liens imposed by
law and arising in the ordinary course of business for sums which are not yet overdue for a period of more than 30 days or are being contested in good faith by appropriate proceedings promptly instituted and diligently conducted and for which
adequate reserves have been established or other provisions have been made in accordance with generally accepted accounting principles; 
 (3) minor imperfections of, or encumbrances on, title that do not impair the value of property for its intended use; 
 (4) Liens (other than any Lien under the Employee Retirement Income Security Act of 1974, as amended) incurred or deposits
made in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other types of social security; 
 (5) Liens incurred or deposits made to secure the performance of tenders, bids, trade contracts, leases, statutory or regulatory obligations, bankers’ acceptances, surety and appeal bonds, government
contracts, performance and return of money bonds and other obligations of a similar nature incurred in the ordinary course of business (exclusive of obligations for the payment of borrowed money); 
 (6) easements, rights-of-way, municipal and zoning ordinances and similar charges, encumbrances, title defects or other
irregularities that do not materially adversely affect the use of the subject to property for its present purposes; 
 (7) Liens (including extensions, replacements and renewals thereof) upon real or tangible personal property acquired after the Issue Date; provided, that 
  

 26 

 (a)(i) such Lien is created solely for the purpose of securing Indebtedness
that is incurred in accordance with this Indenture to finance the cost (including the cost of improvement or construction) of the item of property or assets subject thereto and such Lien is created prior to, at the time of or within 180 days after
the later of the acquisition, the completion of construction or the commencement of full operation of such property or (ii) such Lien exists on any such property or assets at the time of acquisition (other than any such Liens created in
contemplation of such acquisition that do not secure the purchase price), 
 (b) the principal amount of the
Indebtedness secured by such Lien does not exceed 100% of such cost and 
 (c) any such Lien shall not extend to
or cover any property or assets of the Company or of any Restricted Subsidiary of the Company other than such item of property or assets and any improvements on such item; 
 (8) leases or subleases, licenses and sublicenses granted to others that do not materially interfere with the ordinary course
of business of the Company or of any Restricted Subsidiary of the Company; 
 (9) any interest or title of a
lessor in the property subject to any Capitalized Lease Obligation; provided that any transaction related thereto otherwise complies with this Indenture; 
 (10) Liens arising from filing Uniform Commercial Code financing statements regarding leases; 
 (11) Liens securing judgments or orders, or securing appeal or other surety bonds related to such judgments or orders,
against the Company or any Restricted Subsidiary of the Company that does not give rise to an Event of Default; 
 (12) Liens securing reimbursement obligations with respect to letters of credit incurred in accordance with this Indenture that encumber documents and other property relating to such letters of credit and the products and proceeds thereof;

 (13) Liens in favor of the Trustee arising under this Indenture; 
 (14) any Lien (including extensions, replacements and renewals thereof) existing on property, shares of stock or Indebtedness
of a Person at the time such Person becomes a Restricted Subsidiary of the Company or is merged with or consolidated into the Company or a Restricted Subsidiary of the Company or at the time of sale, lease or other disposition of the properties of
any Person as an entirety or substantially as an entirety to the Company or any Restricted Subsidiary of the Company; 
 (15) Liens on property of any Subsidiary of the Company to secure Indebtedness for borrowed money owed to the Company or to another Restricted Subsidiary of the Company; 
  

 27 

 (16) Liens in favor of the Company or any Restricted Subsidiary; 

(17) Liens existing on the Issue Date including extensions, replacements and renewals thereof, provided that the Lien so
extended, replaced or renewed does not extend to any additional property or assets; 
 (18) Liens in favor of
custom and revenue authorities arising as a matter of law to secure payment of nondelinquent customs duties in connection with the importation of goods; 
 (19) Liens encumbering customary initial deposits and margin deposits, and other Liens incurred in the ordinary course of business that are within the general parameters customary in the industry, in each
case securing Indebtedness under any Interest Rate Protection Agreement, Commodity Agreement or Currency Agreement; 
 (20) Liens encumbering deposits made in the ordinary course of business to secure nondelinquent obligations arising from statutory, regulatory, contractual or warranty requirements of the Company or its Restricted Subsidiaries for which a
reserve or other appropriate provision, if any, as shall be required by GAAP shall have been made; 
 (21) Liens
arising out of consignment or similar arrangements for the sale of goods entered into by the Company or any Restricted Subsidiary in the ordinary course of business in accordance with industry practice; 
 (22) other Liens securing Indebtedness outstanding in an aggregate principal amount not to exceed $50.0 million at any time;

 (23) Liens incurred pursuant to the Master Intercompany Agreements or Support Agreement; 
 (24) Liens securing Indebtedness otherwise permitted to be incurred under clause (m) under Section 3.10
where the Indebtedness being refunded was secured by a Lien, or amendments or renewals of Liens that were permitted to be incurred; provided that the Lien so extended, renewed or replaced does not extend to any additional property or assets;

 (25) Liens under licensing agreements for use of intellectual property entered into in the ordinary course of
business; and 
 (26) Liens securing Indebtedness incurred pursuant to Section 3.10(h); provided such
Liens do not extend to any property or assets of the Company or any Restricted Subsidiary of the Company other than the assets so acquired. 
 “Person” means any individual, corporation, partnership, limited liability company, joint stock company, joint venture, trust, estate, unincorporated organization or other entity or
government or any agency or political subdivision thereof. 
  

 28 

 “Place of Payment,” when used with respect to the Securities, means the
place or places where the principal of, premium, if any, interest, if any, Additional Interest, if any, and any other payments on such Securities are payable as specified as contemplated by Section 2.3 herein. 
 “Plan of Liquidation” means, with respect to any Person, a plan (including by operation of law) that provides for,
contemplates or the effectuation of which is preceded or accompanied by (whether or not substantially contemporaneously): 
 (1) the sale, lease, conveyance or other disposition of all or substantially all of the assets of the referent Person; and 
 (2) the distribution of all or substantially all of the proceeds of such sale, lease, conveyance or other disposition and all
or substantially all of the remaining assets of the referent Person to holders of Capital Stock of the referent Person. 
 “Preferred Stock” means, as applied to the Capital Stock of any Person, the Capital Stock of such Person (other than the Common Stock of such Person) of any class or classes (however designated) that ranks prior, as to the
payment of dividends or as to the distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding-up of such Person, to shares of Capital Stock of any other class of such Person. 
 “Public Equity Offering” means a public offering for cash by the Company of its Qualified Capital Stock, other than public
offerings with respect to the Company’s Qualified Capital Stock registered on Forms S-4 or S-8. 
 “Qualified
Capital Stock” means, with respect to any Person, any Capital Stock of such Person that is not Disqualified Capital Stock or convertible into or exchangeable or exercisable for Disqualified Capital Stock. 
 “Qualified Non-Cash Proceeds” means any of the following or any combination of the following: 
 (1) non-current assets that are used or usable in the Permitted Business and 
 (2) Capital Stock of any Person engaged primarily in the Permitted Business if, in connection with the receipt by the Company
or any Restricted Subsidiary of such Capital Stock (a) such Person becomes a Restricted Subsidiary or (b) such Person is merged, consolidated or amalgamated with or into, or transfers or conveys substantially all of its assets to, or is
liquidated into, the Company or any Restricted Subsidiary. 
 “Qualified Securitization Transaction” means any
transaction or series of transactions that have been or may be entered into by any of the Restricted Subsidiaries of the Company in connection with or reasonably related to a transaction or series of transactions in which any of the Restricted
Subsidiaries of the Company may sell, convey or otherwise transfer to 
 (1) a Securitization Subsidiary or

  

 29 

 (2) any other Person, or may grant a security interest in, any Receivables
or interests therein secured by the merchandise or services financed thereby (whether such Receivables are then existing or arising in the future) of any of the Restricted Subsidiaries of the Company, and any assets related thereto including,
without limitation, all security or ownership interests in merchandise or services financed thereby, the proceeds of such Receivables, and other assets which are customarily sold or in respect of which security interests are customarily granted in
connection with securitization transactions involving such assets. 
 “Rating Agency” means each of
(1) S&P and (2) Moody’s. 
 “Receivables” means any right of payment from or on behalf of
any obligor, whether constituting an account, chattel paper, instrument, general intangible or otherwise, arising from the financing by any Restricted Subsidiary of the Company of merchandise or services, and monies due thereunder, security or
ownership interests in the merchandise and services financed thereby, records related thereto, and the right to payment of any interest or finance charges and other obligations with respect thereto, proceeds from claims on insurance policies related
thereto, any other proceeds related thereto, and any other related rights. 
 “Redemption Date,” when used with
respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption Price,” when used with respect to any Security to be redeemed, in whole or in part, means the price at which it is to be redeemed pursuant to this Indenture. 
 “Responsible Officer,” when used with respect to the Trustee, shall mean any officer within the corporate trust department
of the Trustee, including any vice president, any assistant vice president, any assistant treasurer, any trust officer, or any other officer of the Trustee customarily performing 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 officer’s knowledge of and familiarity with a particular subject and who shall have direct responsibility for the administration of this
Indenture. 
 “Restricted Subsidiary” means any Subsidiary of the Company that is not an Unrestricted
Subsidiary. 
 “Rule 903” means Rule 903 promulgated under the Securities Act. 
 “Rule 904” means Rule 904 promulgated the Securities Act. 
 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and its
successors. 
 “Sale/Lease-back Transaction” means an arrangement relating to property now owned or hereafter
acquired whereby the Company or a Restricted Subsidiary transfers such property to a Person and the Company or a Restricted Subsidiary leases it from such Person. 
  

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 “Securities” means the collective reference to the Initial Securities and
any Additional Securities. 
 “Securities Act” means the Securities Act of 1933, as amended. 
 “Securitization Subsidiary” means a Subsidiary of the Company existing on the Issue Date or formed or acquired thereafter
which engages principally in securitization transactions and in activities reasonably related to or in connection with the entering into of securitization transactions and: 
 (1) no portion of the Indebtedness or any other obligations (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 other than pursuant to
representations, warranties and covenants (including those related to servicing) entered into in the ordinary course of business in connection with a Qualified Securitization Transaction or 
 (c) subjects any property or asset of the Company or any Restricted Subsidiary of the Company, directly or indirectly,
contingently or otherwise, to any Lien or to the satisfaction thereof, other than pursuant to representations, warranties and covenants (including those related to servicing) entered into in the ordinary course of business in connection with a
Qualified Securitization Transaction; 
 (2) with which neither the Company nor any Restricted Subsidiary of the
Company 
 (a) provides any credit support or 
 (b) has any contract, agreement, arrangement or understanding other than on terms that are fair and reasonable and that are
no less favorable to the Company or such Restricted Subsidiary than could be obtained from an unrelated Person (other than, in the case of subclauses (a) and (b) of this clause (2), representations, warranties and covenants
(including those relating to servicing) entered into in the ordinary course of business in connection with a Qualified Securitization Transaction and intercompany notes relating to the sale of Receivables to such Securitization Subsidiary); and

 (3) with which neither the Company nor any Restricted Subsidiary of the Company has any obligation to maintain
or preserve such Subsidiary’s financial condition or to cause such Subsidiary to achieve certain levels of operating results. For purposes of the foregoing, Navistar Inc. shall not be deemed to be providing credit support to any Subsidiary of
Navistar Financial Corporation that would otherwise qualify

  

 31 

 
as a Securitization Subsidiary as a result of the terms of the Support Agreement in which Navistar Inc. agrees to provide credit support directly to Navistar Financial Corporation for the benefit
of its lenders (but not any other provisions). 
 “Security Register” means the register of Securities,
maintained by the Registrar, pursuant to Section 2.3 herein. 
 “Shy Settlement” means that certain
Amended and Restated Settlement Agreement dated June 30, 1993 in reference to the class action of Shy et. Al v. Navistar, Civil Action No. C-3-92-333 (S.D. Ohio). 
 “Significant Subsidiary” means any Subsidiary, or group of Subsidiaries, that would, taken together, be a “Significant Subsidiary” of the Company as defined in Article 1, Rule
1-02 of Regulation S-X promulgated under the Securities Act, as such regulation is in effect on the Issue Date. 
 “Stated Maturity” means, with respect to any security or Indebtedness of a Person, the date specified therein as the fixed date on which any principal of such security or Indebtedness is due and payable, including pursuant
to any mandatory redemption provision (but excluding any provision providing for the repurchase thereof at the option of the holder thereof). 
 “Subsidiary” of any Person means 
 (1) a
corporation a majority of whose Voting Stock is at the time, directly or indirectly, owned by such Person, by one or more Restricted Subsidiaries of such Person or by such Person and one or more Restricted Subsidiaries of such Person or 

(2) any other Person (other than a trust formed in connection with a Qualified Securitization Transaction) in which such
Person, a Restricted Subsidiary of such Person or such Person and one or more Restricted Subsidiaries of such Person, directly or indirectly, at the date of determination thereof, have at least a majority ownership interest. 
 “Subsidiary Guarantee” means the guarantee of the Securities by the Initial Subsidiary Guarantor and each Subsidiary
Guarantee of the Securities issued pursuant to Section 3.17 herein. 
 “Subsidiary Guarantor” means
the Initial Subsidiary Guarantor, Inc. and each Restricted Subsidiary of the Company that becomes a guarantor of the Securities pursuant to Section 3.17 herein. 
 “Support Agreement” means the Side Agreement dated as of July 1, 2005, as amended to the Issue Date between the
Company and Navistar, Inc. (formerly known as International Truck and Engine Corporation), as it may be amended, modified, supplemented, restated or renewed from time to time; provided that such agreement shall not be amended, modified,
supplemented, restated or renewed in a manner adverse in any material respect to the interests of the Company and its Restricted Subsidiaries taken as a whole. 
  

 32 

 “Tax Allocation Agreement” means the Tax Allocation Agreement among the
Company and its Subsidiaries, effective as of April 14, 2008, as it may be amended and/or supplemented from time to time; provided that no such amendment or supplement shall be adverse in any material respect to the interests of the Company and
its Restricted Subsidiaries taken as a whole. 
 “TIA” or “Trust Indenture Act” means the
Trust Indenture Act of 1939 as in effect on the date of this Indenture, except as provided in Section 9.3 herein. 
 “Treasury Rate” means the yield to maturity at the time of computation of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15
(519) that has become publicly available at least two Business Days prior to the redemption date (or, if such Statistical Release is no longer published, any publicly available source or similar market data)) most nearly equal to the period
from the redemption date to November 1, 2014; provided, however, that if the period from the redemption date to November 1, 2014, is not equal to the constant maturity of a United States Treasury security for which a weekly average yield
is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period
from the redemption date to November 1, 2014 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 
 “Trustee” means the party named as such in the first paragraph of this Indenture until a successor Trustee replaces it
pursuant to the applicable provisions of this Indenture, and thereafter means such successor Trustee. 
 “United
States” means the United States of America (including the States and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction. 
 “U.S. Paying Agent” means The Bank of New York Mellon Trust Company, N.A. and any successor U.S. Paying Agent. 

“Unrestricted Subsidiary” means: 
 (1) each of Navistar Financial Corporation; Navistar Financial S.A. de C.V. SOFOM E.N.R.; Navistar Commercial, S.A. de C.V.;
Servicios Corporativos Navistar, S.A. de C.V.; Transproteccion Agente de Seguros, S.A. de C.V. Harbour Assurance Company of Bermuda Limited; Navistar Leasing Services Corporation f/k/a Harco Leasing Company, Inc.; Navistar Acceptance Corporation
Limited; International Truck and Engine Corporation US Holding Company, LLC; International Truck and Engine Corporation Cayman Islands Holding Corporation; International Truck and Engine Investments Corporation; Blue Diamond Truck, S. de R.L. de
C.V.; Blue Diamond Parts, LLC, International Dealcor Operations, Ltd.; Diamond Force Engineering LLC; International Truck and Engine Mauritius Holding Ltd.; International Truck Leasing Corp.; Navistar Financial Retail Receivables Corporation;
Navistar Financial Securities Corporation; Truck Engine Receivables Financing Co.; Truck Retail Accounts Corporation; Truck Retail Installment Paper Corp.; Navistar Cayman Islands Intellectual

  

 33 

 
Property Company; Navistar Luxembourg Intellectual Property Company; World Truck Rapid Service, LLC; World Truck Rapid Service of Alsip; LLC; Cumberland Servicenter, Inc.; Custom Chassis
Products, LLC; Navistar Cayman Islands Sourcing Company; Navistar China Sourcing LLC; Navistar (Shanghai) Trading Co. Ltd.; Mahindra Navistar Automotives Limited; Mahindra Navistar Engines Private Limited; all DealCor Subsidiaries and all
Securitization Subsidiaries in existence as of the Issue Date and their respective Subsidiaries until such time as it is designated a Restricted Subsidiary pursuant to the second succeeding sentence; 
 (2) any Subsidiary of the Company (other than Navistar, Inc. as long as its Subsidiary Guarantee is in effect) that at the
time of determination shall be designated an Unrestricted Subsidiary by the Board of Directors in the manner provided below; and 
 (3) any Subsidiary of an Unrestricted Subsidiary. 
 The Board of Directors may
designate any Subsidiary of the Company (including any newly acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Capital Stock of, or holds any Lien on any property of, the
Company or any other Restricted Subsidiary of the Company; provided, that either 
 (1) the Subsidiary to
be so designated has total assets of $1,000 or less or 
 (2) if such Subsidiary has assets greater than $1,000,
such designation would be permitted under Section 3.12 herein. 
 The Board of Directors may designate any
Unrestricted Subsidiary to be a Restricted Subsidiary; provided, that immediately after giving effect to such designation (a) if such Unrestricted Subsidiary at such time has Indebtedness, the Company could incur $1.00 of additional
Indebtedness under paragraph (a) of Section 3.10 herein and (b) no Default shall have occurred and be continuing. Any such designation by the Board of Directors shall be evidenced by the Company to the Trustee by
promptly filing with the Trustee a copy of the board resolution giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the foregoing provisions. 
 “Voting Stock” means, with respect to any Person, securities of any class or classes of Capital Stock in such Person
entitling the holders thereof (whether at all times or only so long as no senior class of stock has voting power by reason of any contingency) to vote in the election of members of the Board of Directors or other governing body of such Person.

  

 34 

 Section 1.2. Other Definitions. 
  

			
	 Term
	  	Defined in Section
	 “Additional Interest”
	  	6.13
	 “Affiliate Transactions”
	  	3.16(a)(iv)
	 “Asset Sale Offer Trigger Date”
	  	3.13
	 “Authentication Order”
	  	2.2
	 “Bankruptcy Law”
	  	6.1
	 “Benefited Party”
	  	10.1(c)(i)
	 “Change of Control Offer”
	  	5.9
	 “Change of Control Payment Date”
	  	5.9
	 “Custodian”
	  	6.1
	 “Defaulted Interest”
	  	2.12
	 “Legal Holiday”
	  	11.8
	 “Paying Agent”
	  	2.3
	 “Registrar”
	  	2.3
	 “Restricted Payment”
	  	3.12
	 “Reversion Date”
	  	3.1
	 “Security Register”
	  	2.3
	 “Special Record Date”
	  	2.12(a)
	 “Standard No. 76”
	  	8.8
	 “Suspension Period”
	  	3.1
	 “Suspended Covenants”
	  	
	 “Unutilized Net Available Proceeds”
	  	3.13

 Section 1.3. Incorporation by Reference of Trust Indenture Act. This Indenture
is subject to the mandatory provisions of the TIA which are incorporated by reference in and made a part of this Indenture. The following TIA terms have the following meanings: 
 “indenture securities” means the Securities. 
 “indenture security holder” means a Securityholder. 
 “indenture to
be qualified” means this Indenture. 
 “indenture trustee” or “institutional trustee” means the
Trustee. 
 “obligor” on the indenture securities means the Company and any other obligor on the indenture securities.

 All other TIA terms used in this Indenture that are defined by the TIA, defined in the TIA by reference to another statute or
defined by the Commission rules have the meanings assigned to them by such definitions. 
 Section 1.4. Rules of
Construction. For all purposes of this Indenture, except as otherwise expressly provided or 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; 
  

 35 

 (e) words in the singular include the plural and words in the plural include
the singular; and 
 (f) the words “herein,” “hereof” and “hereunder” and other
words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 
 ARTICLE II 
 THE SECURITIES 
 Section 2.1. Form, Dating and Terms. 
 (a) General. The
Securities shall be dated the date of their authentication. The Securities and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A hereto. The Securities may have notations, legends or
endorsements required by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication. The Securities shall be in denominations of $2,000 and integral multiples of $1,000 in excess thereof. In addition, the Company
may issue, from time to time in accordance with the provisions of this Indenture, an unlimited amount of Additional Securities as a new series of Securities to be issued under this Indenture. 
 The terms and provisions contained in the Securities shall constitute, and are hereby expressly made, a part of this
Indenture and the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Security conflicts with the express
provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 
 (b) Global
Securities. Securities issued in global form shall be substantially in the form of Exhibit A attached hereto (including the Global Security Legend thereon and the “Schedule of Exchanges of Interests in the Global Security”
attached thereto). Securities issued in definitive form shall be substantially in the form of Exhibit A attached hereto (but without the Global Security Legend thereon and without the “Schedule of Exchanges of Interests in the
Global Security” attached thereto). Each Global Security shall represent such amount of the outstanding Securities as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of outstanding
Securities from time to time endorsed thereon and that the aggregate principal amount of outstanding Securities represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement
of a Global Security to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Securities represented thereby shall be made by the Trustee, in accordance with instructions given by the Holder thereof as
required by Section 2.6 hereof. 
  

 36 

 Every Global Security authenticated and delivered hereunder shall bear a
legend in substantially the following form: 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY (AS DEFINED IN THE INDENTURE) OR A NOMINEE THEREOF. THIS GLOBAL SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR ITS NOMINEE ONLY IN
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE
DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
 Section 2.2. Execution and Authentication. One Officer shall sign the Securities for the Company by manual or facsimile signature. If
an Officer whose signature is on a Security no longer holds that office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. 
 A Security shall not be valid until an authorized signatory of the Trustee manually authenticates the Security. The Trustee shall, upon a written order of the Company signed by one Officer (an
“Authentication Order”), authenticate Securities for original issue on the date hereof in the aggregate principal amount of $1,000,000,000. The signature of the Trustee on a Security shall be conclusive evidence that such Security
has been duly and validly authenticated and issued under this Indenture. 
 At any time and from time to time after the
execution and delivery of this Indenture, the Trustee shall authenticate and make available for delivery: (1) the Initial Securities on the Issue Date in an aggregate principal amount of $1,000,000,000 and (2) from time to time, the
Additional Securities, in each case upon a Company Order. Such Company Order shall specify the amount of the Securities to be authenticated and the date on which the original issue of Securities are to be authenticated and whether the Securities are
to be Initial Securities or Additional Securities. 
 With respect to any Additional Securities, the Company shall set forth in
a resolution of its Board of Directors and an Officers’ Certificate, the following information: 
 (i) the
aggregate principal amount of such Additional Securities to be authenticated and delivered pursuant to this Indenture; and 
 (ii) the issue price and the issue date of the Additional Securities. 
 The aggregate principal
amount of Securities which may be authenticated and delivered under this Indenture is unlimited. All Securities issued under this Indenture (whether Initial Securities or Additional Securities) shall be treated as a single class for all purposes
under this Indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase. 
  

 37 

 In case the Company, pursuant to Article IV herein, shall be consolidated or
merged with or into any other Person or shall transfer or lease all or substantially all of its assets to any Person, and the successor Person formed by or surviving any such consolidation or any such merger, or to which such transfer or lease shall
have been made, shall have executed an indenture supplemental hereto with the Trustee pursuant to Article IV herein, any of the Securities authenticated or delivered prior to such consolidation, merger, conveyance, transfer or lease may,
from time to time, at the request of the successor Person, be exchanged for other Securities executed in the name of the successor Person with such changes in phraseology and form as may be appropriate, but otherwise in substance of like tenor as
the Securities surrendered for such exchange and of like principal amount; and the Trustee, upon Company Order of the successor Person, shall authenticate and deliver Securities as specified in such order for the purpose of such exchange. If
Securities shall at any time be authenticated and delivered in any new name of a successor Person pursuant to this Section 2.2 herein in exchange or substitution for or upon registration of transfer of any Securities, such successor
Person, at the option of the Holders but without expense to them, shall provide for the exchange of all Securities at the time Outstanding for Securities authenticated and delivered in such new name. 
 Section 2.3. Registrar and Paying Agent. The Company shall maintain an office or agency where Securities may be presented for
registration of transfer or for exchange (the “Registrar”) and an office or agency where Securities may be presented for payment (the “Paying Agent”). The Registrar shall keep a register of the Securities and of
their transfer and exchange (the “Security Register”). The Company may have one or more co-registrars and one or more additional paying agents. The term “Paying Agent” includes any additional paying agent. 
 The Company shall enter into an appropriate agency agreement with any Registrar, Paying Agent or co-registrar not a party to this Indenture,
which shall incorporate the terms of the TIA. The agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee of the name and address of each such agent. If the Company 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 7.9. The Company or any wholly owned Subsidiary may act as Paying Agent, Registrar, co-registrar or
transfer agent. 
 The Company initially appoints the Trustee as the Paying Agent and Registrar in connection with the
Securities. 
 Section 2.4. Paying Agent To Hold Money in Trust. Prior to each due date of the principal of or interest on
any Security, the Company shall deposit with the Paying Agent a sum sufficient to pay such principal or interest when due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that such Paying Agent shall hold in
trust for the benefit of Securityholders or the Trustee all money held by such Paying Agent for the payment of principal of or interest on the Securities and shall notify the Trustee in writing of any default by the Company in making any such
payment. If the Company acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent (other than the Trustee) to pay all money held by it to
the Trustee and to account for any funds disbursed by such Paying Agent. Upon complying with this Section, the Paying Agent (if other than the Company) shall have no further

  

 38 

 
liability for the money delivered to the Trustee. Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the
Securities. 
 Section 2.5. Securityholder Lists. The Trustee shall preserve in as current a form as is reasonably
practicable the most recent list available to it of the names and addresses of Securityholders. If the Trustee is not the Registrar, or to the extent otherwise required under the TIA, the Company shall furnish to the Trustee, in writing at least
seven 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 Securityholders.

 Section 2.6. Transfer and Exchange. 
 With respect to the Securities of each series, if any, the Company shall cause to be kept a Security Register at an Office or Agency for such series in which, subject to such reasonable regulations as it
may prescribe, the Company shall provide for the registration of the Securities of such series and of transfers of the Securities of such series. Unless otherwise specified in or pursuant to this Indenture or the Securities, the Trustee shall be the
initial Registrar for each series of Securities. The Company shall have the right to remove and replace from time to time the Registrar for any series of Securities; provided that no such removal or replacement shall be effective until a
successor Registrar with respect to such series of Securities shall have been appointed by the Company and shall have accepted such appointment by the Company. In the event that the Trustee shall not be or shall cease to be Registrar with respect to
a series of Securities, it shall have the right to examine the Register for such series at all reasonable times. There shall be only one Register for each series of Securities. 
 Upon surrender for registration of transfer of any Security of any series at any Office or Agency for such series, the Company shall
execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series denominated as authorized in or pursuant to this Indenture, of a like aggregate principal
amount bearing a number not contemporaneously outstanding and containing identical terms and provisions. 
 At the option of the
Holder, Securities of any series may be exchanged for other Securities of the same series containing identical terms and provisions, in any authorized denominations, and of a like aggregate principal amount, upon surrender of the Securities to be
exchanged at any Office or Agency for such series. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to
receive. 
 Notwithstanding the foregoing, except as otherwise provided in or pursuant to this Indenture, any Global Security
shall be exchangeable for Definitive Securities only if (i) the Depositary is at any time unwilling or unable to continue as Depositary for the Securities or has ceased to be a clearing agency registered under the Exchange Act and, in either
case, the Company fails to appoint a successor depositary within 120 days after the date of such notice, (ii) the Company executes and delivers to the Trustee a Company Order to the effect that such

  

 39 

 
Global Security shall be so exchangeable, or (iii) there shall of occurred and be continuing a Default or Event of Default with respect to the Securities. If the beneficial owners of
interests in a Global Security are entitled to exchange such interests for Definitive Securities as the result of an event described in clause (i), (ii) or (iii) of the preceding sentence, then without unnecessary delay but in any event
not later than the earliest date on which such interests may be so exchanged, the Company shall deliver to the Trustee Definitive Securities in such form and denominations as are required by or pursuant to this Indenture, and of the same series,
containing identical terms and in aggregate principal amount equal to the principal amount of such Global Security, executed by the Company. On or after the earliest date on which such interests may be so exchanged, such Global Security shall be
surrendered from time to time by the U.S. Depositary or such other Depositary as shall be specified in the Company Order with respect thereto, and in accordance with instructions given to the Trustee and the U.S. Depositary or such other Depositary,
as the case may be (which instructions shall be in writing but need not be contained in or accompanied by an Officers’ Certificate or be accompanied by an Opinion of Counsel unless requested by the Trustee), as shall be specified in the Company
Order with respect thereto to the Trustee, as the Company’s agent for such purpose, to be exchanged, in whole or in part, for Definitive Securities as described above without charge. The Trustee shall authenticate and make available for
delivery, in exchange for such surrendered Global Security or portion thereof, a like aggregate principal amount of Definitive Securities of the same series of authorized denominations and of like tenor as such Global Security or portion thereof to
be exchanged, which or Securities, as shall be specified by the beneficial owner thereof; provided, however, that no such exchanges may occur during a period beginning at the opening of business 15 days before any selection of Securities of
the same series to be redeemed and ending on the relevant Redemption Date. Promptly following any such exchange in part, such Global Security shall be returned by the Trustee to such Depositary or the U.S. Depositary, as the case may be, or such
other Depositary or U.S. Depositary referred to above in accordance with the instructions of the Company referred to above. If a Security is issued in exchange for any portion of a Global Security after the close of business at the Office or Agency
for such Security where such exchange occurs on or after (i) any Regular Record Date for such Security and before the opening of business at such Office or Agency on the next succeeding Interest Payment Date, or (ii) any Special Record
Date for such Security and before the opening of business at such Office or Agency on the related proposed date for payment of interest or Defaulted Interest, as the case may be, interest shall not be payable on such Interest Payment Date or
proposed date for payment, as the case may be, in respect of such Registered Security, but shall be payable on such Interest Payment Date or proposed date for payment, as the case may be, only to the Person to whom interest in respect of such
portion of such Global Security shall be payable in accordance with the provisions of this Indenture. 
 All Securities issued
upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company evidencing the same debt and entitling the Holders thereof to the same benefits under this Indenture as the Securities surrendered upon such
registration of transfer or exchange. 
 Every Security presented or surrendered for registration of transfer or for exchange or
redemption shall (if so required by the Company or the Registrar for such Security) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the

  

 40 

 
Company and the Registrar for such Security duly executed by the Holder thereof or his attorney duly authorized in writing. 
 No service charge by the Company shall be made for any registration of transfer or exchange, or redemption of Securities, but the Company
may require payment of a sum sufficient to cover any tax or other governmental charge and any other expenses (including fees and expenses of the Trustee) that may be imposed in connection with any registration of transfer or exchange of Securities,
other than exchanges pursuant to Sections 2.10 or 5.7 not involving any transfer. 
 Except as otherwise provided in or pursuant
to this Indenture, the Company shall not be required (i) to issue, register the transfer of or exchange any Securities during a period beginning at the opening of business 15 days before the day of mailing of a notice of redemption of
Securities of like tenor and the same series under Section 5.3 and ending at the close of business on the day of such mailing, or (ii) to register the transfer of or exchange any Security selected for redemption in whole or in part, except
in the case of any Security to be redeemed in part, the portion thereof not to be redeemed, or (iii) to issue, register the transfer of or exchange any Security which, in accordance with its terms, has been surrendered for repayment at the
option of the Holder, except the portion, if any, of such Security not to be so repaid. 
 Section 2.7. [Reserved].

 Section 2.8. [Reserved]. 
 Section 2.9. Mutilated, Destroyed, Lost or Stolen Securities. If a mutilated Security is surrendered to the Registrar or if the Holder of a Security claims that such Security has been lost, destroyed
or wrongfully taken, the Company shall issue and the Trustee shall authenticate a replacement Security if the requirements of Section 8-405 of the Uniform Commercial Code are met and the Holder satisfies any other reasonable requirements of the
Trustee. If required by the Trustee or the Company, such Holder shall furnish an indemnity bond sufficient in the judgment of the Company and the Trustee to protect the Company, the Trustee, the Paying Agent, the Registrar and any co-registrar from
any loss which any of them may suffer if a Security is replaced, and, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon Company Order the Trustee
shall authenticate and make available for delivery, in exchange for any such mutilated Security or in lieu of any such destroyed, lost or stolen Security, a new Security of like tenor and principal amount, bearing a number not contemporaneously
outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable,
the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new
Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed

  

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in relation thereto and any other expenses (including the fees and expenses of the Trustee) in connection therewith. 
 Every new Security issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, any
Subsidiary Guarantor (if applicable) and any other obligor upon the Securities, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture
equally and proportionately with any and all other Securities duly issued hereunder. 
 The provisions of this Section are
exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section 2.10. Temporary Securities. Until Definitive Securities are ready for delivery, the Company may prepare and the Trustee shall
authenticate temporary Securities. Temporary Securities shall be substantially in the form of Definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company
shall prepare and the Trustee shall authenticate Definitive Securities. After the preparation of Definitive Securities, the temporary Securities shall be exchangeable for such Definitive Securities upon surrender of such temporary Securities at any
office or agency maintained by the Company for that purpose and such exchange shall be without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities, the Company shall execute, and the Trustee shall
authenticate and make available for delivery in exchange therefor, one or more Definitive Securities representing an equal principal amount of Securities. Until so exchanged, the Holder of temporary Securities shall in all respects be entitled to
the same benefits under this Indenture as a holder of Definitive Securities. 
 Section 2.11. Cancellation. The Company at
any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall
cancel and return to the Company all Securities surrendered for registration of transfer, exchange, payment or cancellation. The Company may not issue new Securities to replace Securities it has paid or delivered to the Trustee for cancellation for
any reason other than in connection with a transfer or exchange. 
 Section 2.12. Payment of Interest; Defaulted Interest.
The principal of (and premium, if any) and interest and Additional Interest, if any, on the Securities shall be payable at the office or agency of the Company maintained for such purpose in the Borough of Manhattan in the City of New York, or at
such other office or agency of the Company as may be maintained for such purpose pursuant to Section 2.3 herein; provided, however, that, at the option of the Company, each installment of interest may be paid by check
mailed to addresses of the Persons entitled thereto as such addresses shall appear on the Security Register and; provided, further, that all payments with respect to the Securities, the Holders of which have given wire transfer
instructions to the Company and the Paying Agent at least 10 Business Days prior to the applicable payment date, will be required to be made by wire transfer of immediately available funds to the accounts specified by the Holders thereof. Payments
in respect of Securities 
  

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represented by a Global Security (including principal, premium, interest and Additional Interest, if any) will be made by wire transfer of immediately available funds to the accounts specified by
DTC. 
 Interest on any Security which is payable, and is punctually paid or duly provided for, on any interest payment date
shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest at the office or agency of the Company maintained for such purpose
pursuant to Section 2.3 herein. 
 Any interest on any Security which is payable, but is not punctually paid or duly
provided for when the same becomes due and payable, shall forthwith cease to be payable to the Holder on the relevant regular record date by virtue of having been such a Holder, and such defaulted interest and (to the extent lawful) interest on such
defaulted interest at the rate borne by the Securities (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Company, at its election in each case, as provided in
paragraph (a) or (b) below: 
 (a) The Company may elect to make payment of any Defaulted
Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed
in the following manner. The Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit
prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this paragraph (a) provided. Thereupon the Trustee shall fix a record date
(the “Special Record Date”) for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the
Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date, and in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and
the Special Record Date therefor to be given in the manner provided for in Section 11.2 herein, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record
Date therefor having been so given, such Defaulted Interest shall be paid to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no
longer be payable pursuant to the following paragraph (b). 
 (b) The Company may make payment of
such Defaulted Interest to the Persons in whose names such Securities are registered at the close of business on a specified date in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities
may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.

  

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 (c) Subject to the foregoing provisions of this Section, each Security
delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 
 Section 2.13. Computation of Interest. Interest on the Securities shall be computed on the basis of a 360-day year of twelve 30-day
months. 
 Section 2.14. CUSIP Numbers. The Company in issuing the Securities may use “CUSIP,” “ISIN”
or “Common Code” numbers (if then generally in use) and, if so, the Trustee shall use “CUSIP,” “ISIN” or “Common Code” numbers in notices of redemption as a convenience to Holders; provided,
however, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other
identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee of any change in the “CUSIP,” “ISIN” or
“Common Code” numbers. 
 ARTICLE III 
 COVENANTS 
 Section 3.1. Application of Certain Covenants. 
 (a) Following the first day (the “Suspension Period”): 
 (i) the Securities have been assigned an Investment Grade rating by both Rating Agencies; and 
 (ii) no Default under this Indenture has occurred and is continuing, 
 the Company and its Restricted Subsidiaries will not be subject to Sections 3.10, 3.12, 3.13, 3.15, 3.16 and 3.17 and Section 4.1(a)(ii)
of this Indenture (collectively, the “Suspended Covenants”. 
 (b) In the event that the Company
and its Restricted Subsidiaries are not subject to the Suspended Covenants for any period of time as a result of the foregoing and on any subsequent date (the “Reversion Date’) one or both of the Rating Agencies withdraws its
Investment Grade Rating or downgrades the rating assigned to the Securities below an Investment Grade Rating, then the Company and its Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants with respect to future events.
The period of time between the Suspension Date and the Reversion Date is referred to as the “Suspension Period.” Notwithstanding that the Suspended Covenants may be reinstated, no Default or Event of Default will be deemed to have
occurred as a result of a failure to comply with the Suspended Covenants during the Suspension Period. During any Suspension Period, the Company may not designate any Subsidiary to be an Unrestricted Subsidiary unless the Company would have been
permitted to designate such Subsidiary to be an Unrestricted Subsidiary if a Suspension period had not been in effect for any period. 
  

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 (c) On the Reversion Date, all Indebtedness Incurred during the Suspension
Period will be deemed to have been outstanding on the Issue Date, so that it is classified as permitted under Section 3.10(b). Calculations made after the Reversion Date of the amount available to be made as Restricted Payments under
Section 3.12 will be made as though the covenant under Section 3.12 had been in effect since the Issue Date 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 clause (3) of Section 3.12(a) and items specified in subclauses (A) through (E) of clause (3) of Section 3.12(a) will not increase the amount available to be made
thereunder. For purposes of determining compliance with Section 3.13, the Net Unutilized Net Available Proceeds from all Asset Dispositions not applied in accordance with the covenant will be deemed to be reset to zero after the Reversion Date.

 (d) Without causing a Default or Event of Default, the Company and its Restricted Subsidiaries may honor any
contractual commitments to take actions in the future after any date on which the Securities no longer have an Investment Grade Rating from both of the Rating Agencies as long as such contractual commitments were entered into during the Suspension
Period and not in anticipation of the Securities no longer having an Investment Grade Rating from both of the Rating Agencies. 
 Section 3.2. Payment of Principal, Premium, if any, Interest, if any and Additional Interest, if any. The Company covenants and agrees for the benefit of the Holders of Outstanding Securities that it will duly and punctually pay the
principal of, premium, if any, interest, if any, and Additional Interest, if any, on the Securities in accordance with the terms of the Securities and this Indenture. An installment of principal, premium, if any, interest, if any, or Additional
Interest, if any, shall be considered paid on the date it is due if the Trustee or Paying Agent holds on that date money designated for and sufficient to pay the installment. 
 Section 3.3. Maintenance of Office or Agency. The Company will maintain in each Place of Payment for the Securities an office or agency
where the Securities may be presented or surrendered for payment, where the Securities may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities and this Indenture
may be served. The Corporate Trust Office of the Trustee shall be such an office or agency of the Company, unless the Company may designate and maintain some other office or agency for one or more of such purposes. The Company will give prompt
written notice to the Trustee of any change in the location of any such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands.

 The Company may also from time to time designate one or more other offices or agencies where the Securities may be presented
or surrendered for any or all such purposes and may from time to time rescind any such designation; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an
office or agency in each Place of Payment for the Securities for such purposes. The Company will give

  

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prompt written notice to the Trustee of any such designation or rescission and any change in the location of any such other office or agency. 
 Section 3.4. Money for Securities Payments to be Held in Trust; Unclaimed Money. If the Company shall at any time act as its own Paying
Agent with respect to the Securities, it will, on or before each due date of the principal of, premium, if any, interest, if any, or Additional Interest, if any, on the Securities, segregate and hold in trust for the benefit of the Persons entitled
thereto a sum sufficient to pay the principal, premium, if any, interest or Additional Interest, if any, so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee
in writing of its action or failure so to act. 
 The Company will cause each Paying Agent other than the Trustee to execute and
deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 
 (a) hold all sums held by it for the payment of the principal of, premium, if any, interest, if any, or Additional Interest,
if any, on the Securities in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; 
 (b) give the Trustee notice of any default by the Company or any Subsidiary Guarantor (or any other obligor upon the
Securities) in the making of any payment of principal, premium, if any, interest, if any, or Additional Interest, if any, on the Securities; and 
 (c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 
 The Company may at any time, for the purpose of obtaining the satisfaction and discharge or defeasance of this Indenture or for any other
purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the
Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 
 Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of any principal, premium,
interest or Additional Interest, if any, on any Security and remaining unclaimed for two years after such principal, premium, if any, interest, if any, or Additional Interest, if any, has become due and payable shall be paid to the Company on
Company Request or (if then held by the Company) shall be discharged from such trust, unless otherwise required by certain provisions of applicable law; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to
the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or
such Paying Agent, before being required to make any such

  

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repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in
The City of New York, or cause to be mailed to such Holder, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such
money then remaining will be repaid to the Company. 
 Section 3.5. Corporate Existence. Subject to Article IV
herein, the Company will at all times do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and its rights and franchises; provided, that nothing in this Section 3.5
shall prevent the abandonment or termination of any right or franchise of the Company if, in the opinion of the Company, such abandonment or termination is in the best interests of the Company and does not materially adversely affect the ability of
the Company to fulfill its obligations hereunder. 
 Section 3.6. Reports by the Company. The Company covenants:

 (a)(i) so long as any of the Securities are outstanding, notwithstanding whether the Company is subject to the
requirements of Sections 13 or 15(d) of the Exchange Act, the Company will file with the Commission (unless the Commission will not accept such filing) and, within 15 days after it files them with the Commission, file with the Trustee and mail or
cause the Trustee to mail to the Holders at their addresses as set forth in the registers of the Securities, copies of the annual reports and of the information, documents and other reports which the Company is required to file with the Commission
pursuant to Section 13 or 15(d) of the Exchange Act or which the Company would be required to file with the Commission if the Company then had a class of securities registered under the Exchange Act; 
 (b) to file with the Trustee and the Commission, in accordance with the rules and regulations prescribed from time to time by
the Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants provided for in the Indenture, as may be required from time to time by such rules and regulations; and

 (c) to comply with Sections 313(b) and 313(d) of the Trust Indenture Act, to the extent applicable.

 Delivery of such reports, information and documents to the Trustee is for informational purposes only, and the Trustee’s receipt of such
shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including information concerning the Company’s compliance with any of its covenants hereunder; provided
that the foregoing shall not relieve the Trustee of any of its responsibilities hereunder. 
 Notwithstanding the foregoing, the Company will be
deemed to have furnished such information referred to in the previous sentence to the Trustee and the Holders if the Company has filed such reports and other information with the SEC via the EDGAR filing system (or any successor system) and such
reports and other information are publicly available. If the SEC will not accept the Company’s filings for any reason, the Company will post the reports, documents and

  

 47 

 
information referred to in the first sentence of this paragraph on its website within the time periods that would apply if the Company were required to file such reports, documents and
information with the SEC and, in that event, the Company will be deemed to have furnished such information referred to above to the Trustee and the Holders. 
 Section 3.7. Annual Review Certificate; Notice of Defaults or Events of Default. 
 (a) The Company covenants and agrees to deliver to the Trustee, within 120 days after the end of each fiscal year of the Company (beginning with the fiscal year next following the Issue Date), a
certificate from an executive officer as to his or her knowledge of the Company’s compliance with all conditions and covenants under this Indenture. For purposes of this Section 3.7, such compliance shall be determined without
regard to any period of grace or requirement of notice provided under this Indenture. 
 (b) The Company
covenants and agrees to deliver to the Trustee, within a reasonable time (and in any event within five Business Days) after the Company becomes aware of the occurrence of a Default or an Event of Default of the character specified in
Section 6.1(d) herein, written notice of the occurrence of such Default or Event of Default. 
 Section 3.8.
Books of Record and Account. The Company will keep proper books of record and account, either on a consolidated or individual basis. The Company shall cause its books of record and account to be examined either on a consolidated or individual basis,
by one or more firms of independent public accountants not less frequently than annually. The Company shall prepare its financial statements in accordance with generally accepted accounting principles. 
 Section 3.9. Limitation on Liens. The Company will not, and will not cause or permit any of its Restricted Subsidiaries to, create,
incur, assume or suffer to exist any Liens upon any of their respective properties or assets (including, without limitation, any asset in the form of the right to receive payments, fees or other consideration or benefits) whether owned on the Issue
Date or acquired after the Issue Date, other than: 
 (a) Liens granted by the Company or a Subsidiary Guarantor
on property or assets of the Company or a Subsidiary Guarantor securing Indebtedness of the Company or a Subsidiary Guarantor that is permitted by this Indenture and that is pari passu with the Securities or the Subsidiary Guarantee;
provided, that the Securities or the Subsidiary Guarantee, as the case may be, are secured on an equal and ratable basis with the Indebtedness secured by such Liens for so long as such Indebtedness is so secured; 
 (b) Liens granted by the Company or a Subsidiary Guarantor on property or assets of the Company or a Subsidiary Guarantor
securing Indebtedness of the Company or a Subsidiary Guarantor that is permitted by this Indenture and that is subordinated to the Securities or the Subsidiary Guarantee; provided, that the Securities or the Subsidiary Guarantee, as the case
may be, are secured by Liens ranking prior to such Liens; 
 (c) Permitted Liens; 
  

 48 

 (d) Liens (including extensions, replacements and renewals thereof) in
respect of Acquired Indebtedness permitted by this Indenture; provided, that the Liens in respect of such Acquired Indebtedness secured such Acquired Indebtedness at the time of the incurrence of such Acquired Indebtedness and such Liens and
the Acquired Indebtedness were not incurred by the Company, any of its Restricted Subsidiaries or by the Person being acquired or from whom the assets were acquired in connection with, or in anticipation of, the incurrence of such Acquired
Indebtedness by the Company or any of its Restricted Subsidiaries, and provided, further that such Liens in respect of such Acquired Indebtedness do not extend to or cover any property or assets of the Company or of any Restricted
Subsidiary of the Company other than the property or assets that secured the Acquired Indebtedness prior to the time such Indebtedness became Acquired Indebtedness of the Company or any of its Restricted Subsidiaries; 
 (e) Liens granted in connection with any Qualified Securitization Transaction; 
 (f) Liens arising from claims of holders of Indebtedness against funds held in a defeasance trust for the benefit of such
holders; and 
 (g) Liens on property or assets of the Company or any Restricted Subsidiary securing Indebtedness
incurred pursuant to Sections 3.10(c), 3.10(g) and 3.10(z) herein. 
 Section 3.10. Limitation on Incurrence of
Indebtedness. The Company will not, and will not cause or permit any of its Restricted Subsidiaries to incur, directly or indirectly, any Indebtedness, except: 
 (a) Indebtedness of the Company or any Subsidiary Guarantor, if immediately after giving effect to the incurrence of such
Indebtedness and the receipt and application of the net proceeds thereof, the Consolidated Cash Flow Ratio of the Company for the four full fiscal quarters for which quarterly or annual financial statements are available next preceding the
incurrence of such Indebtedness would be greater than 2.0 to 1.0; 
 (b) Indebtedness outstanding on the Issue
Date; 
 (c) Indebtedness of the Company or any Restricted Subsidiary of the Company under Credit Facilities in
an aggregate amount at any one time outstanding pursuant to this clause (c) not to exceed the greater of (a) $200.0 million or (b) the sum of (i) 85.0% of the total book value of accounts receivable and (ii) 60% of the total
book value of inventory, in each case as reflected on the Company’s and it Restricted Subsidiaries’ most recent consolidated financial statements prepared in accordance with GAAP; provided that amount in clause (b) of this
clause (c) shall not exceed $1,000.0 million; 
 (d) Indebtedness owed by the Company to any Restricted
Subsidiary of the Company or Indebtedness owed by a Restricted Subsidiary of the Company to the Company or a Restricted Subsidiary of the Company; provided, that, upon either 
 (i) the transfer or other disposition by such Restricted Subsidiary or the Company of any Indebtedness so permitted under
this paragraph (d) to a Person other than the Company or another Restricted Subsidiary of the Company or 
  

 49 

 (ii) the issuance (other than directors’ qualifying shares), sale,
transfer or other disposition of shares of Capital Stock or other ownership interests (including by consolidation or merger) of such Restricted Subsidiary to a Person other than the Company or another such Restricted Subsidiary of the Company

 The provisions of this paragraph (d) shall no longer be applicable to such Indebtedness and such Indebtedness shall be deemed to
have been incurred at the time of any such issuance, sale, transfer or other disposition, as the case may be; 
 (e) Indebtedness of the Company or any of its Restricted Subsidiaries under any Interest Rate Protection Agreement, Commodity Agreement or Currency Agreement in each case incurred in the ordinary course of business; 
 (f) Acquired Indebtedness, if either (i) the Company would be permitted to incur at least $1.00 of additional
Indebtedness pursuant to clause (a) above after giving pro forma effect to the relevant acquisition and incurrence of such Acquired Indebtedness or (ii) (a) the Company’s Consolidated Cash Flow Ratio for the most recent four full
fiscal quarters for which financial statements are available after giving pro forma effect to the relevant acquisition and incurrence of such Acquired Indebtedness as of the beginning of such four quarter period would be greater than (b) the
Company’s Consolidated Cash Flow Ratio for such four quarter period as of immediately prior to such acquisition and incurrence of such Acquired Indebtedness; 
 (g) Indebtedness incurred by the Company or any of its Restricted Subsidiaries constituting reimbursement obligations with
respect to letters of credit issued in the ordinary course of business, including, without limitation, letters of credit in response to worker’s compensation claims or self-insurance; 
 (h) Indebtedness arising from agreements of the Company or any of its Restricted Subsidiaries providing for adjustment of
purchase price, earn-out or other similar obligations, in each case, incurred or assumed in connection with the acquisition or disposition of any business, assets or a Subsidiary of the Company; 
 (i) obligations in respect of performance and surety bonds and completion guarantees provided by the Company or any of its
Restricted Subsidiaries in the ordinary course of business; 
 (j) Indebtedness consisting of notes issued to
employees, officers or directors in connection with the redemption or repurchase of Capital Stock held by such Persons in an aggregate amount not in excess of $10.0 million at any time outstanding; 
 (k) Indebtedness consisting of take-or-pay obligations contained in supply agreements entered into by the Company or its
Restricted Subsidiaries in the ordinary course of business; 
 (l) the guarantees by the Company or any of its
Restricted Subsidiaries of Indebtedness of the Company or any Restricted Subsidiary permitted to be incurred under another provision of this covenant; 
  

 50 

 (m) Indebtedness incurred to renew, extend, refinance or refund
(collectively for purposes of this paragraph (m) to “refund”) any Indebtedness incurred pursuant to paragraphs (a), (b) or (f) above, this paragraph (m) or paragraphs
(n) or (o) below (including any successive refundings); provided, that: 
 (i)
such Indebtedness does not exceed the principal amount (or accreted amount, if less) of Indebtedness so refunded plus the amount of any premium required to be paid in connection with such refunding pursuant to the terms of the Indebtedness refunded
or the amount of any premium reasonably determined by the Company as necessary to accomplish such refunding by means of a tender offer, exchange offer, or privately negotiated repurchase, plus the expenses of the Company or such Restricted
Subsidiary incurred in connection therewith and 
 (ii)(A) in the case of any refunding of Indebtedness that is
pari passu with the Securities, such refunding Indebtedness is made pari passu with or subordinate in right of payment to such Securities, and, in the case of any refunding of Indebtedness that is subordinate in right of payment to the Securities,
such refunding Indebtedness is subordinate in right of payment to such Securities on terms no less favorable to the Holders than those contained in the Indebtedness being refunded, 
 (B) in either case, the refunding Indebtedness by its terms, or by the terms of any agreement or instrument pursuant to
which such Indebtedness is issued, does not have an Average Life that is less than the remaining Average Life of the Indebtedness being refunded (in the event that any portion of such refunding Indebtedness has a scheduled maturity prior to the
Securities) and does not permit redemption or other retirement (including pursuant to any required offer to purchase to be made by the Company or any of its Restricted Subsidiaries) of such Indebtedness at the option of the holder thereof prior to
the final stated maturity of the Indebtedness being refunded, other than a redemption or other retirement at the option of the holder of such Indebtedness (including pursuant to a required offer to purchase made by the Company or any of its
Restricted Subsidiaries) which is conditioned upon a change of control of the Company pursuant to provisions substantially similar to those contained in Section 5.9 herein or an asset sale pursuant to provisions substantially similar to
those contained in Section 3.13 and 
 (C) Indebtedness of a Restricted Subsidiary that is not a
Subsidiary Guarantor may not be incurred to refund any Indebtedness of the Company; 
 (n) Indebtedness of the
Company under the Securities outstanding on the Issue Date and the related Subsidiary Guarantee; 
 (o)
Indebtedness of the Company under the Convertible Subordinated Notes and any obligations of the Company or any of its Restricted Subsidiaries with respect to any hedging and other arrangements entered into by the Company or any of its Restricted
Subsidiaries to increase the effective conversion premium with respect to such Convertible Subordinated Notes; 
  

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 (p) the consummation of any Qualified Securitization Transaction;

 (q) Attributable Indebtedness relating to any Sale/Leaseback Transaction with respect to the purchase of
tooling and related manufacturing equipment in the ordinary course of business; 
 (r) the incurrence by the
Company or any Restricted Subsidiary of Indebtedness (including Capital Lease Obligations) to finance the purchase, lease or improvement of property (real or personal) or equipment (whether through the direct purchase of assets or the Capital Stock
of any Person owning such assets) in an aggregate principal amount outstanding at any time not to exceed the greater of (a) $75.0 million or (b) 2.0% of Consolidated Net Tangible Assets at the time of any incurrence thereof; 
 (s) the accrual of interest, accretion or amortization of original issue discount, the payment of interest on any
Indebtedness in the form of additional Indebtedness with the same terms, and the payment of dividends on Disqualified Capital Stock or Preferred Stock in the form of additional shares of the same class of Disqualified Capital Stock or Preferred
Stock; provided in each such case that the amount thereof is included in Consolidated Fixed Charges of the Company as accrued; 
 (t) Indebtedness under the Support Agreement and the Master Intercompany Agreements; 
 (u) Indebtedness consisting of guarantees by the Company or its Restricted Subsidiaries with respect to obligations with respect to the Financial Services Segment in Mexico; provided that the aggregate
amount of such guarantees shall not exceed the aggregate amount of such guarantees outstanding on the Issue Date; 
 (v) Indebtedness of the Company or any Restricted Subsidiary arising from the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently (except in the case of daylight overdrafts) drawn against
insufficient funds in the ordinary course of business; provided, however, that such Indebtedness is extinguished within five business days after incurrence; 
 (w) Indebtedness of the Company or any Restricted Subsidiary to the extent the net proceeds thereof are promptly deposited to
defease the Notes as described under Section 8.6; 
 (x) Indebtedness that is subordinated in right
of payment to the Securities or the Subsidiary Guarantee, as the case may be, not to exceed in the aggregate $200.0 million at any time outstanding; 
 (y) Indebtedness consisting of guarantees of Indebtedness in lieu of capital contributions purchases of Capital Stock or other Investments; provided such guarantee constitutes (a) a Restricted
Payment permitted pursuant to Section 3.12(a) or Section 3.12(b)(xvi) or (b) a Permitted Investment pursuant to clauses (15) or (16) of the definition of “Permitted Investments” and in each case such guarantee
reduces the amounts available to make other Restricted Payments or Permitted Investments as the case may be; 
  

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 (z) Indebtedness of any Foreign Subsidiary incurred for working capital in
the ordinary course of business; and 
 (aa) Indebtedness of the Company or any of its Restricted Subsidiaries
not otherwise permitted to be incurred pursuant to clauses (a) through (z) of this Section 3.10, which, together with any other outstanding Indebtedness incurred pursuant to this clause (aa), has an aggregate principal amount not in
excess of $150.0 million at any time outstanding; 
 For purposes of determining compliance with this covenant, in the event
that an item of Indebtedness meets the criteria of more than one of the categories of Permitted Indebtedness described in paragraphs (a) through (aa) above, the Company shall, in its sole discretion, classify such
item of Indebtedness and may divide and classify such Indebtedness in more than one of the types of Indebtedness described, and may later reclassify any item of Indebtedness described in paragraphs (a) through (aa)
(provided that at the time of reclassification it meets the criteria in such category or categories). In addition, for purposes of determining any particular amount of Indebtedness under this covenant, guarantees, Liens or letter of credit
obligations supporting Indebtedness otherwise included in the determination of such particular amount shall not be included so long as incurred by a Person that could have incurred such Indebtedness. 
 For purposes of determining compliance with any dollar-denominated restriction on the incurrence of Indebtedness denominated in a foreign
currency, the dollar-equivalent principal amount of such Indebtedness incurred pursuant thereto shall be calculated based on the relevant currency exchange rate in effect on the date that such Indebtedness was incurred 
 If Indebtedness is secured by a letter of credit that serves only to secure such Indebtedness, then the total amount deemed incurred shall
be equal to the greater of (1) the principal of such Indebtedness and (2) the amount that may be drawn under such letter of credit. 
 Section 3.11. [Reserved]. 
 Section 3.12. Limitation on Restricted
Payments. 
 (a) The Company will not, and will not cause or permit any of its Restricted Subsidiaries to
directly or indirectly: 
 (i) declare or pay any dividend, or make any distribution of any kind or character
(whether in cash, property or securities), in respect of any class of its Capital Stock or to the holders thereof in their capacity as stockholders, excluding any (A) dividend or distributions payable solely in shares of its Qualified Capital
Stock or in options, warrants or other rights to acquire its Qualified Capital Stock or (B) in the case of any Restricted Subsidiary of the Company, dividends or distributions payable to the Company or a Restricted Subsidiary of the Company on
a pro rata basis to all holders of the Capital Stock of such Restricted Subsidiary; 
 (ii) purchase, redeem, or
otherwise acquire or retire for value shares of Capital Stock of the Company, or any options, warrants or rights to purchase or acquire shares of Capital Stock of the Company, excluding any debt security that is convertible into, or exchangeable
for, Capital Stock of the Company and any such shares of Capital Stock,

  

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options, warrants, rights or securities which are owned by the Company or a Restricted Subsidiary of the Company; 
 (iii) make any Investment (other than a Permitted Investment); or 
 (iv) redeem, defease, repurchase, retire or otherwise acquire or retire for value, prior to any scheduled maturity, repayment
or sinking fund payment, Indebtedness (other than Indebtedness permitted under Section 3.10(d)) which is subordinate in right of payment to the Securities or any Subsidiary Guarantee (other than the redemption, defeasance, repurchase,
retirement or other acquisition or retirement satisfying a principal installment, sinking fund or maturity, in each case due within one year of the date of such redemption, defeasance, repurchase, retirement or other acquisition or retirement (each
of the transactions described in clauses (i) through (iv) of this Section 3.12(a) (other than any exception to any such clause) being a “Restricted Payment”), 
 if at the time thereof: 
 (1) an Event of Default, or an event that with the passing of time or giving of notice, or both, would constitute an Event of Default, shall have occurred and be continuing, or 
 (2) upon giving effect to such Restricted Payment, the Company could not incur at least $1.00 of additional Indebtedness
pursuant to the terms of paragraph (a) of Section 3.10 of this Indenture, or 
 (3) upon
giving effect to such Restricted Payment, the aggregate of all Restricted Payments made on or after the Issue Date exceeds the sum (without duplication) of: 
 (A) 50% of cumulative Consolidated Net Income of the Company (or, in the case cumulative Consolidated Net Income of the
Company shall be negative, less 100% of such deficit) for the period (treated as a single accounting period) from August 1, 2009 through the last day of the Company’s most recently ended fiscal quarter for which financial statements are
available; plus 
 (B) 100% of the aggregate Net Cash Proceeds and the fair market value of property or
marketable securities received after the Issue Date, from the issuance of Qualified Capital Stock of the Company and warrants, rights or options on Qualified Capital Stock of the Company (other than in respect of any such issuance to a Subsidiary of
the Company) and the principal amount of Indebtedness of the Company or a Subsidiary of the Company that has been converted into or exchanged for Qualified Capital Stock of the Company after the Issue Date; plus 
 (C) in the case of the disposition or repayment of any Investment constituting a Restricted Payment made after the Issue
Date, an amount equal to the return of capital with respect to such Investment, less the cost of the

  

 54 

 
disposition of such Investment (including any payments made on guarantees constituting Investments); plus 
 (D) 100% of the aggregate Net Cash Proceeds received after the Issue Date from Unrestricted Subsidiaries resulting from the
receipt of dividends or other distributions or payments, repayments of loans or advances or other transfers of assets or proceeds from the disposition of Capital Stock, in each case to the Company or any Restricted Subsidiary from, or with respect
to, interests in Unrestricted Subsidiaries; provided that any such amounts included in this subparagraph (D) shall not be included in Consolidated Net Income of the Company for purposes of subparagraph (A) above; plus

 (E) the portion (proportionate to the Company’s equity interest in such Subsidiary) of the fair market
value of the net assets of an Unrestricted Subsidiary at the time such Unrestricted Subsidiary is designated a Restricted Subsidiary not to exceed the amount of Investments made by the Company or any Restricted Subsidiary (and treated as a
Restricted Payment) in such Unrestricted Subsidiary. 
 For purposes of determining the amount available for or expended for Restricted Payments
under this clause (iii), property other than cash shall be valued at its fair market value and shall be valued in good faith and set forth in an Officers’ Certificate delivered to the Trustee when the fair market value of such
property exceeds $25.0 million. 
 (b) Notwithstanding the foregoing, the provisions set forth in
paragraph (a) above will not prohibit: 
 (i) any dividend on any class of Capital Stock of the
Company paid within 60 days after the declaration thereof if, on the date when the dividend was declared, the Company could have paid such dividend in accordance with the provisions of this Indenture; 
 (ii) the renewal, extension, refunding or refinancing of any Indebtedness otherwise permitted pursuant to the terms of
paragraph (m) of Section 3.10 of this Indenture; 
 (iii) the exchange or conversion of any
Indebtedness of the Company or any of its Restricted Subsidiaries for or into Qualified Capital Stock of the Company; 
 (iv) so long as no Default or Event of Default has occurred and is continuing, any Investment made in exchange for or out of the Net Cash Proceeds of a substantially concurrent sale, or a sale within 60 days of such Investment (other than
to a Subsidiary of the Company) of Qualified Capital Stock of the Company; provided, that the proceeds of such sale of Qualified Capital Stock shall not be (and have not been) included in clause (3) of paragraph (a)
above; 
 (v) the redemption, repurchase, retirement or other acquisition of any Capital Stock of the Company or
the payment of any dividend or other distribution in respect of any class of its Capital Stock in exchange for or out of the Net Cash Proceeds of the

  

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substantially concurrent sale, or a sale within 60 days of such redemption, repurchase, retirement, other acquisition, dividend or other distribution (other than to a Subsidiary of the Company)
of Qualified Capital Stock of the Company; provided, that the proceeds of such sale of Qualified Capital Stock shall not be (and have not been) included in clause (3) of paragraph (a) above; 
 (vi) so long as no Event of Default has occurred and is continuing, the redemption, repurchase, retirement or other
acquisition of any subordinated Indebtedness of the Company or a Subsidiary Guarantor in exchange for or out of the Net Cash Proceeds of the substantially concurrent sale or a sale within 60 days of such redemption, repurchase, retirement, or other
acquisition (other than to a Subsidiary of the Company) of Qualified Capital Stock of the Company; provided, that the proceeds of such sale of Qualified Capital Stock shall not be (and have not been) included in clause (3) of
paragraph (a) above; 
 (vii) cash payments made (a) with respect to the hedging arrangements
entered into by the Company or any of its Restricted Subsidiaries to increase the effective conversion premium of the Convertible Subordinated Notes, (b) made to net share settle Convertible Subordinated Notes in an amount not to exceed the
principal amount thereof and (c) made in lieu of the issuance of fractional shares in connection with the conversion of the Convertible Subordinated Notes; 
 (viii) the declaration and payment of dividends to holders of any class of Disqualified Capital Stock of the Company or a
Restricted Subsidiary of the Company or Preferred Stock of any Restricted Subsidiary of the Company issued after the Issue Date; provided, that such Disqualified Capital Stock or Preferred Stock was issued in accordance with the covenant
described in Section 3.10 and such dividends constitute Consolidated Fixed Charges; 
 (ix) so long as no
Event of Default has occurred and is continuing, any purchase or redemption or other retirement for value of Capital Stock of the Company (including purchases of stock from current or former employees, employees’ spouses, estates or estate
planning vehicles in accordance with the terms of employee stock purchase plans) pursuant to any shareholders agreement, management agreement or employee stock option agreement in accordance with the provisions of any such arrangement in an amount
in a calendar year not to exceed $15.0 million (with unused amounts in any calendar year carried over to succeeding years subject to a maximum of $25.0 million in any calendar year); 
 (x) repurchases of Capital Stock deemed to occur upon the exercise of stock options or warrants if such Capital Stock
represents a portion of the exercise price thereof or tax withholding related to the exercise of stock options or warrants in connection with the vesting of restricted stock; 
 (xi) payments not to exceed $10.0 million per annum in the aggregate to enable the Company to make payments to holders of its
Capital Stock in lieu of issuance of fractional shares of its Capital Stock; 
  

 56 

 (xii) so long as no Event of Default has occurred and is
continuing, the redemption of any other stock purchase rights under a rights plan in an aggregate amount not to exceed $2.5 million; 
 (xiii) so long as no Event of Default has occurred and is continuing, Investments in Permitted Joint Ventures and designations of Restricted Subsidiaries as Unrestricted Subsidiaries; provided,
that after giving pro forma effect to such Investment or designation, the Company could incur at least $1.00 of additional Indebtedness pursuant to the terms of paragraph (a) of Section 3.10; and 
 (xiv) so long as no Event of Default has occurred and is continuing, the repurchase, redemption, acquisition or retirement of
subordinated Indebtedness with Unutilized Net Available Proceeds remaining after an Offer to Purchase pursuant to Section 3.13; 
 (xv) so long as no Event of Default has occurred and is continuing, the repurchase, redemption, acquisition or retirement of any subordinated Indebtedness at a price not greater than 101% of the principal
amount thereof (together with accrued and unpaid interest) following a Change of Control pursuant to provisions similar to those described under Section 5.9; provided that the Company shall have complied with the provisions of
Section 5.9 and have purchased all Securities validly tendered and not withdrawn; and 
 (xvi) if no
Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof, any other Restricted Payment which, together with all other Restricted Payments made pursuant to this clause (xvi), does not to
exceed $100.0 million in aggregate since the Issue Date. 
 Each Restricted Payment described in clauses (i),
(vii), (ix), (xiii), (xiv) and (xv) of this paragraph (b) shall be taken into account (and the Restricted Payments described in the remaining clauses shall not be taken into account) for
purposes of computing the aggregate amount of all Restricted Payments made pursuant to clause (3) of paragraph (a) above. 
 For purposes of determining compliance with this covenant, in the event that a proposed Restricted Payment (or portion thereof) meets the criteria of more than one of the categories of Restricted Payments
described in clauses (i) through (xvi) in paragraph (b) above, or is entitled to be incurred pursuant to paragraph (a) above, the Company will be entitled to classify such Restricted Payment (or
portion thereof) on the date of its payment in any manner that complies with this Section 3.12. 
 Section 3.13.
Limitation on Certain Asset Dispositions. The Company will not, and will not cause or permit any of its Restricted Subsidiaries to, directly or indirectly, make one or more Asset Dispositions unless: 
 (a) the Company or the Restricted Subsidiary, as the case may be, receives consideration for such Asset Disposition at least
equal to the fair market value of the assets sold or disposed of (as determined in good faith by the Board of Directors of the Company or a member of senior management of the Company); 
  

 57 

 (b) not less than 75% of the consideration for the disposition consists of
Cash Equivalents or the assumption of Indebtedness (other than non-recourse Indebtedness, intercompany Indebtedness or any Indebtedness subordinated to the Securities) of the Company or such Restricted Subsidiary or other obligations relating to
such assets (and release of the Company or such Restricted Subsidiary from all liability on the Indebtedness or other obligations assumed); and 
 (c) all Net Available Proceeds, less any amounts invested or committed to be invested within 360 days of such Asset Disposition in non-current assets related to the business of the Company (including
capital expenditures or the Capital Stock of another Person (other than the Company or any Person that is a Restricted Subsidiary of the Company immediately prior to such investment); provided, that immediately after giving effect to any such
investment (and not prior thereto) such Person shall be a Restricted Subsidiary of the Company) are applied, on or prior to the 360th day after such Asset Disposition (unless and to the extent that the Company shall determine to make an Offer to
Purchase), either to 
 (i) the permanent reduction and prepayment of any secured Indebtedness of the Company or
a Subsidiary Guarantor (other than Indebtedness which is expressly subordinate to the Securities) then outstanding (including a permanent reduction of commitments in respect thereof) or 
 (ii) the permanent reduction and repayment of any Indebtedness of any Restricted Subsidiary of the Company that is not a
Subsidiary Guarantor then outstanding (including a permanent reduction of commitments in respect thereof). 
 The 361st day after such Asset
Disposition shall be deemed to be the “Asset Sale Offer Trigger Date,” and the amount of Net Available Proceeds from Asset Dispositions otherwise subject to the preceding provisions not so applied or as to which the Company has
determined not to so apply shall be referred to as the “Unutilized Net Available Proceeds.” Within fifteen days after the Asset Sale Offer Trigger Date, the Company shall make an Offer to Purchase the outstanding Securities at a
purchase price in cash equal to 100% of their principal amount plus any accrued and unpaid interest thereon to the Purchase Date. Notwithstanding the foregoing, the Company may defer making any Offer to Purchase outstanding Securities until there
are aggregate Unutilized Net Available Proceeds equal to or in excess of $25.0 million (at which time, the amount in excess of $25.0 million, shall be applied as required pursuant to this paragraph). Pending application of the Unutilized Net
Available Proceeds pursuant to this covenant, such Unutilized Net Available Proceeds shall be invested in any manner not otherwise prohibited by this Indenture or applied temporarily to reduce any Indebtedness of the Company or a Subsidiary
Guarantor (other than Indebtedness which is expressly subordinated in right of payment to the Securities). 
 If any
Indebtedness of the Company or any of its Restricted Subsidiaries ranking pari passu with the Securities requires that prepayment of, or an offer to prepay, such Indebtedness be made with any Net Available Proceeds, the Company may apply such Net
Available Proceeds pro rata (based on the aggregate principal amount of the Securities then outstanding and the aggregate principal amount (or accreted value, if less) of all such other Indebtedness then outstanding) to the making of an Offer to
Purchase the Securities in accordance with the

  

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foregoing provisions and the prepayment or the offer to prepay such pari passu Indebtedness. Any remaining Net Available Proceeds following the completion of the required Offer to Purchase may be
used by the Company for any other purpose (subject to the other provisions of this Indenture) and the amount of Net Available Proceeds then required to be otherwise applied in accordance with this covenant shall be reset to zero, subject to any
subsequent Asset Disposition. These provisions will not apply to a transaction consummated in compliance with the provisions of Section 4.1 of this Indenture. 
 For purposes of clause (b) of this Section 3.13, the following will be deemed to be cash: (a) the amount of any notes, securities or other similar obligations received by the Company or any
Restricted Subsidiary from such transferee that are immediately converted, sold or exchanged (or are converted, sold or exchanged within 90 days of the related Asset Disposition) by the Company or the Restricted Subsidiaries into cash or Cash
Equivalents in an amount equal to the Net Cash Proceeds realized upon such conversion, sale or exchange and (b) Qualified Non-Cash Proceeds. 
 Notwithstanding the foregoing, the provisions of this covenant shall not apply to any Sale/Leaseback Transaction with respect to the purchase of tooling and related manufacturing equipment in the ordinary
course of business. 
 In the event that the Company makes an Offer to Purchase the Securities, the Company shall comply with
any applicable securities laws and regulations, including any applicable requirements of Section 14(e) of, and Rule 14e-1 under, the Exchange Act and any violation of the provisions of this Indenture relating to such Offer to Purchase
occurring as a result of such compliance shall not be deemed an Event of Default or an event that with the passing of time or giving of notice, or both, would constitute an Event of Default. 
 Section 3.14. Limitation on Sale/Leaseback Transactions. The Company shall not, and shall not cause or permit any Restricted Subsidiary
to, enter into any Sale/Leaseback Transaction with respect to any property unless: 
 (a) the Company or such
Restricted Subsidiary would be entitled to incur Indebtedness in an amount equal to the Attributable Indebtedness with respect to such Sale/Leaseback Transaction pursuant to Section 3.10; 
 (b) the Net Available Proceeds received by the Company or any Restricted Subsidiary in connection with such Sale/Leaseback
Transaction are at least equal to the fair value (as determined by the Board of Directors of the Company or a member of senior management of the Company) of such property; and 
 (c) the Company or such Restricted Subsidiary applies the Net Available Proceeds of such transaction in compliance with
Section 3.13 herein. 
 Notwithstanding the foregoing, the provisions of this covenant shall not prohibit the
Company or any Restricted Subsidiary from entering into any Sale/Leaseback Transaction with respect to the purchase of tooling and related manufacturing equipment in the ordinary course of business. 
  

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 Section 3.15. Limitation on Payment Restrictions Affecting Restricted Subsidiaries.

 (a) The Company will not, and will not cause or permit any of its Restricted Subsidiaries to, directly or
indirectly, create or suffer to exist or allow to become effective any consensual encumbrance or restriction of any kind on the ability of any such Restricted Subsidiary to: 
 (i) pay dividends, in cash or otherwise, or make other payments or distributions on its Capital Stock or any other equity
interest or participation in, or measured by, its profits, owned by the Company or by any Restricted Subsidiary of the Company, or make payments or prepayments on any Indebtedness owed to the Company or to any Restricted Subsidiary of the Company;

 (ii) make loans or advances or make Investments in the Company or any Restricted Subsidiary of the Company; or

 (iii) transfer any of their respective property or assets to the Company or to any Restricted Subsidiary of
the Company. 
 (b) The restrictions in paragraph (a) above, however, will not apply to encumbrances
or restrictions existing under or by reason of: 
 (i) applicable law, regulations or order; 
 (ii) customary provisions restricting subletting or assignment of any lease, sublease, license, sublicense or service
contract; 
 (iii) Indebtedness or any other contractual requirements (including pursuant to any corporate
governance documents in the nature of a charter or by-laws) of a Securitization Subsidiary arising in connection with a Qualified Securitization Transaction, provided, that any such encumbrances and restrictions apply only to such
Securitization Subsidiary; 
 (iv) any agreement in effect on the Issue Date as any such agreement is in effect
on such date; 
 (v) any agreement (including Acquired Indebtedness) of any Restricted Subsidiary in effect on
the date on which such Restricted Subsidiary became a Subsidiary of the Company and not entered into in anticipation or contemplation of becoming a Subsidiary of the Company; provided that such encumbrance or restriction shall not apply to
any assets of the Company or its Restricted Subsidiaries other than such Restricted Subsidiary; 
 (vi) this
Indenture, the Securities and the International Guarantee or any other Subsidiary Guarantee. 
 (vii)
restrictions relating to any Lien permitted under this Indenture imposed by the holder of such Lien; 
  

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 (viii) restrictions imposed under any agreement to sell assets permitted
under this Indenture to any Person pending the closing of such sale; 
 (ix) any other agreement governing
Indebtedness entered into after the Issue Date that contains encumbrances and restrictions that are not materially more restrictive with respect to any Restricted Subsidiary than those in effect on the Issue Date with respect to that Restricted
Subsidiary pursuant to agreements in effect on the Issue Date; 
 (x) customary provisions in partnership
agreements, limited liability company organizational governance documents, joint venture agreements and other similar agreements entered into in the ordinary course of business that restrict the transfer of ownership interests in such partnership,
limited liability company, joint venture or similar Person; 
 (xi) Indebtedness incurred in compliance with
paragraph (r) of Section 3.10, provided that such encumbrance or restriction applies only to assets financed with proceeds of such Indebtedness; 
 (xii) restrictions on cash or other deposits or net worth imposed by suppliers or landlords under contracts entered into in
the ordinary course of business; 
 (xiii) encumbrances or restrictions contained in Indebtedness of Restricted
Subsidiaries permitted to be incurred under paragraphs (c), (z) and (aa) of Section 3.10; provided that any such encumbrances or restrictions are ordinary and customary with respect to the type of
Indebtedness being incurred under the relevant circumstances and either (A) such encumbrances or restrictions do not materially impair the Company’s ability to make payment on the Securities when due or (B) such encumbrances or
restrictions only apply if a default occurs in respect of a payment or financial covenant relating to such Indebtedness; 
 (xiv) encumbrances or restrictions imposed by the Support Agreement, the Master Intercompany Agreements or the Shy Settlement; and 
 (xv) any encumbrances or restrictions imposed by any amendments, refinancings or replacements of the contracts, instruments
or obligations referred to in clauses (i) through (xiv) above; provided that such amendments, refinancings or replacements are no more materially restrictive with respect to such encumbrances and restrictions than
those prior to such amendment, refinancing or replacement. 
 Section 3.16. Limitation on Transactions with Affiliates.

 (a) The Company will not, and will not cause or permit any of its Restricted Subsidiaries to: 
 (i) sell, lease, transfer or otherwise dispose of any of its property or assets to, 
 (ii) purchase any property or assets from, 
  

 61 

 (iii) make any Investment in, or 
 (iv) enter into or amend or extend any contract, agreement or understanding with or for the benefit of, any Affiliate of the
Company or of any Subsidiary (an “Affiliate Transaction”), 
 other than Affiliate Transactions that are on terms that are fair
and reasonable to the Company or such Restricted Subsidiary of the Company and that are no less favorable to the Company or such Restricted Subsidiary of the Company than those that could be obtained in a comparable arm’s length transaction by
the Company or such Restricted Subsidiary of the Company from an unaffiliated party; provided, that if the Company or any Restricted Subsidiary of the Company enters into an Affiliate Transaction or series of Affiliate Transactions involving
or having an aggregate value of more than $25.0 million, a majority of the disinterested members of the Board of Directors of the Company or a committee thereof shall, prior to the consummation of such Affiliate Transaction, have determined (as
evidenced by a resolution thereof) that such Affiliate Transaction meets the foregoing standard; provided further that if the Company or any Restricted Subsidiary of the Company enters into an Affiliate Transaction or series of Affiliate
Transactions involving or having an aggregate value of more than $75.0 million, the Company delivers to the Trustee an opinion issued by an independent accounting, appraisal or investment banking firm of national standing stating that such
Affiliate Transaction is fair to the Company or such Restricted Subsidiary from a financial point of view. 
 (b) The restrictions in paragraph (a) above shall not apply to: 
 (i) any transaction
between Restricted Subsidiaries of the Company, or between the Company and any Restricted Subsidiary of the Company; 
 (ii) transactions entered into pursuant to the terms of the Master Intercompany Agreements, the Tax Allocation Agreements or the Support Agreement; 
 (iii) transactions entered into in the ordinary course of business; 
 (iv) any transaction effected in connection with a Qualified Securitization Transaction; 
 (v) reasonable fees and compensation paid to and advances of expenses to and indemnity provided on behalf of officers,
directors, employees or consultants of the Company or any Subsidiary in the reasonable determination of a member of senior management of the Company or by the Company’s Board of Directors; 
 (vi) any agreement as in effect as of the Issue Date or any amendment thereto or any transaction contemplated thereby
(including pursuant to any amendment thereto) or in any replacement agreement thereto so long as any such amendment or replacement agreement is not more disadvantageous to the Holders in any material respect than the original agreement as in effect
on the Issue Date; 
 (vii) Restricted Payments and Permitted Investments (other than clause (5) thereof)
permitted by this Indenture; 
  

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 (viii) loans or advances to officers, directors, employees or consultants of
the Company or any of its Subsidiaries in the ordinary course of business in an aggregate amount outstanding at any time not to exceed $10.0 million; 
 (ix) transactions with Unrestricted Subsidiaries, joint venture partners, customers, clients, suppliers or purchasers or sellers of goods or services, in each case in the ordinary course of business which
are fair to the Company or its Restricted Subsidiaries, in the reasonable determination of the senior management of the Company, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party;

 (x) any employment, compensation or severance arrangement entered into by the Company or any of its
Subsidiaries in the ordinary course of business that is not otherwise prohibited by this Indenture; and 
 (xi)
the issuance or sale of Capital Stock (other than Disqualified Stock) of the Company to any Affiliate of the Company and the granting of registration and other customary rights in connection therewith. 
 Section 3.17. Limitation on Guarantees by Restricted Subsidiaries. 
 (a) The Company shall not cause or permit any of its Restricted Subsidiaries, directly or indirectly, to guarantee the
payment of any Indebtedness of the Company (other than to the extent such Restricted Subsidiary is a co-borrower with respect to Indebtedness permitted pursuant to clause (c) of Section 3.10), which, in the aggregate, together with
all other Indebtedness of the Company that is guaranteed by Restricted Subsidiaries, exceeds $35.0 million, unless such Restricted Subsidiary of the Company executes and delivers within ten Business Days a supplemental indenture to this Indenture
providing for the guarantee of payment of the Securities by such Restricted Subsidiary of the Company; provided that any guarantee by a Subsidiary Guarantor of such other Indebtedness: 
 (i)(A)(1) is unsecured or (2) is secured and (I) in the case of any such guarantee of Indebtedness of the
Company ranking pari passu with the Securities, the Subsidiary Guarantees are secured equally and ratably with any Liens securing such guarantee and (II) in the case of any such guarantee of Indebtedness of the Company subordinated to the
Securities, the relevant Subsidiary Guarantees are secured on a basis ranking prior to the Liens securing such guarantee and 
 (B)(1) in the case of any such guarantee of Indebtedness of the Company subordinated or junior to the Securities (whether pursuant to its terms or by operation of law), such guarantee is subordinated
pursuant to a written agreement to the relevant Subsidiary Guarantees at least to the same extent and in the same manner as such other Indebtedness is subordinated to the Securities, or (2) the Subsidiary Guarantees are not subordinated or
junior to any Indebtedness of such Subsidiary Guarantor; and 
 (ii) such Subsidiary Guarantor waives, and agrees
it will not in any manner whatsoever claim or take the benefit or advantage of, any rights of reimbursement,

  

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indemnity or subrogation or any other rights against the Company or any other Subsidiary of the Company as a result of any payment by it under such Subsidiary Guarantees. 
 (b) The Company shall cause each Restricted Subsidiary of the Company that guarantees the payment of any Indebtedness of the
Company, which, in the aggregate, together with all other Indebtedness of the Company that is guaranteed by Restricted Subsidiaries of the Company, exceeds $35 million, after the Issue Date, to execute and deliver to the Trustee, promptly upon any
such formation or acquisition (i) a supplemental indenture in form and substance satisfactory to the Trustee which subjects such subsidiary to the provisions of this Indenture as a Subsidiary Guarantor, and (ii) an Opinion of Counsel to
the effect that such supplemental indenture has been duly authorized and executed by such subsidiary and constitutes the legal, valid, binding and enforceable obligation of such subsidiary (subject to such customary exceptions concerning fraudulent
conveyance laws, creditors’ rights and equitable principles as may be acceptable to the Trustee in its discretion). 
 ARTICLE IV 
 CONSOLIDATION, MERGER OR SALE BY THE COMPANY 
 Section 4.1. Consolidation, Merger or Sale of Assets Permitted. 
 (a) The Company will not, in a single transaction or series of related transactions, consolidate or merge with or into, or
sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the Company’s assets (determined on a consolidated basis) to any Person unless: 
 (i) either (A) the Company shall be the surviving or continuing corporation or (B) the Person (if other than the
Company) formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance, transfer or lease the properties and assets of the Company and its Restricted Subsidiaries substantially as an entirety
(1) shall be a corporation, limited liability company or partnership organized and validly existing under the laws of the United States or any State thereof or the District of Columbia and (2) shall expressly assume, by supplemental
indenture (in form and substance satisfactory to the Trustee), executed and delivered to the Trustee, the due and punctual payment of the principal of, premium, if any, interest and Additional Interest, if any, on all of the Securities and the
performance of every covenant of the Securities and this Indenture on the part of the Company to be performed or observed; provided that in the case where the surviving or continuing Person is not a corporation, a corporation becomes a
co-obligor of the Securities; 
 (ii) immediately after giving effect to such transaction and the assumption
contemplated by clause (i)(B)(2) above (including giving effect to any Indebtedness and Acquired Indebtedness incurred or anticipated to be incurred in connection with or in respect of such transaction), (x) the Company (in the case
of clause (A) of the foregoing clause (i)) or such Person (in the case of clause (2) thereof) could incur at least $1.00 of

  

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additional Indebtedness pursuant to paragraph (a) of Section 3.10 herein or (y) the Company’s or such Person’s Consolidated Cash Flow Ratio for the most
recent four full fiscal quarters for which financial statements are available after giving pro forma effect to such transaction as of the beginning of such four quarter period would be greater than the Company’s Consolidated Cash Flow Ratio for
such four quarter period immediately prior to such transaction; 
 (iii) immediately before and after giving
effect to such transaction and the assumption contemplated by clause (i)(B)(2) above (including giving effect to any Indebtedness and Acquired Indebtedness incurred or anticipated to be incurred in connection with or in respect of the
transaction) no Default and no Event of Default shall have occurred or be continuing; and 
 (iv) the Company or
such Person shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such
transaction, such supplemental indenture, comply with this provision of this Indenture and that all conditions precedent in this Indenture relating to such transaction have been satisfied. 
 (b) Notwithstanding paragraph (a) above: 
 (i) a Restricted Subsidiary of the Company may consolidate with, or merge with or into, or sell, assign, transfer, lease,
convey or otherwise dispose of all or substantially all of its assets to, the Company or another Restricted Subsidiary of the Company; and 
 (ii) a series of transactions involving the sale of Receivables or interests therein by a Securitization Subsidiary in connection with a Qualified Securitization Transaction shall not be deemed to be the
sale of all or substantially all of the Company’s assets to the extent such transactions are consummated in the ordinary course of business. 
 For purposes of the foregoing, the transfer (by lease, assignment, sale or otherwise, in a single transaction or series of transactions) of all or substantially all of the properties or assets of one or
more Restricted Subsidiaries of the Company, the Capital Stock of which constitutes all or substantially all of the properties and assets of the Company, shall be deemed to be the transfer of all or substantially all of the properties and assets of
the Company. For the avoidance of doubt, notwithstanding anything to the contrary in this Indenture, the sale, assignment, transfer, conveyance or other disposition of all or any portion of the Company’s Financial Services Segment, including
without limitation through the sale or other disposition of all or any portion of the Capital Stock of any Unrestricted Subsidiary that is part of the Financial Services Segment, or all or any portion of their respective assets or properties, shall
not under any circumstances constitute the sale, assignment, transfer, conveyance or disposition of all or substantially all of the Company’s assets (on a consolidated basis) for any purpose whatsoever under this Indenture or the Securities.

  

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 Upon any such consolidation, merger, conveyance, lease or transfer in accordance with this
Section 4.1, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, lease or transfer is made will succeed to, and be substituted for, and may exercise every right and power of,
the Company under this Indenture with the same effect as if such successor had been named as the Company therein, and thereafter (except in the case of a sale, assignment, transfer, lease, conveyance or other disposition) the predecessor corporation
will be relieved of all further obligations and covenants under this Indenture and the Securities. 
 (c) A
Subsidiary Guarantor will not, directly or indirectly (1) consolidate or merge with or into another Person (whether or not such Subsidiary Guarantor is the surviving Person), or (2) sell, assign, transfer, convey or otherwise dispose of
all or substantially all of the properties and assets of the Subsidiary Guarantor, in one or more related transactions, to another Person, other than the Company or another Subsidiary Guarantor, unless: 
 (i) immediately after giving effect to that transaction, no Default or Event of Default exists; and 
 (ii) either: 
 (1) the Subsidiary Guarantor is the surviving corporation, or the Person formed by or surviving any such consolidation or merger (if other than the Subsidiary Guarantor) or to which such sale, assignment,
transfer, conveyance or other disposition which has been made (i) is organized or existing under the laws of the United States, any state thereof or the District of Columbia and (ii) assumes all the obligations of that Subsidiary Guarantor
under this Indenture and its Subsidiary Guarantee pursuant to a supplemental indenture satisfactory to the Trustee; or 
 (2) such sale, assignment, transfer, conveyance or other disposition or consolidation or merger complies with the covenant described in Section 3.13. 
 ARTICLE V 
 REDEMPTION OF SECURITIES 
 Section 5.1. Applicability of Article. The Securities shall be redeemable in accordance with their terms and in accordance with this
Article V. 
 Section 5.2. Election to Redeem; Notice to Trustee. The election of the Company to redeem any
Securities shall be evidenced by or pursuant to a Board Resolution. In the case of any redemption at the election of the Company of less than all the Securities, the Company shall, at least 60 days prior to the Redemption Date fixed by the Company
(unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and Redemption Price, of the principal amount of Securities to be redeemed. 
 Section 5.3. Selection of Securities to be Redeemed. If less than all the Securities are to be redeemed, the particular Securities to
be redeemed will be selected not more than 60

  

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days prior to the redemption date by the Trustee in compliance with any applicable rules of the principal U.S. securities exchange, if any, on which the Securities are listed or, if the
Securities are not listed on a U.S. securities exchange or if there are no applicable rules, on a pro rata basis, by lot or by such other method as such Trustee will deem appropriate; provided that the unredeemed portion of the principal
amount of any Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. The Trustee shall make the selection from the Securities that are Outstanding that have not
previously been called for redemption and may provide for the selection for redemption of portions (equal to the minimum authorized denomination for the Securities, or any integral multiple of $1,000 in excess thereof) of the principal amount of the
Securities of a denomination larger than the minimum authorized denomination for Securities. 
 The Trustee shall promptly
notify the Company in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed. If the Company shall so direct, Securities registered in the
name of the Company, any Affiliate of the Company or any Subsidiary of the Company thereof shall not be included in the Securities selected for redemption. 
 For purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only
in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. 
 Section 5.4.
Notice of Redemption. At least 30 but no more than 60 days before any redemption date the Company will deliver written notice of such redemption to the Trustee and mail a notice of redemption first-class postage prepaid to each holder of Securities
to be redeemed at its registered address. 
 All notices of redemption shall state: 
 (a) the Redemption Date; 
 (b) the Redemption Price; 
 (c) if less than all of the Outstanding
Securities are to be redeemed, the identification (and in the case of partial redemption, the principal amounts) of the particular Security or Securities to be redeemed; 
 (d) in case any Security is to be redeemed in part only, the notice which relates to such Security shall state that on and
after the Redemption Date, upon surrender of such Security, the Holder will receive, without charge, a new Security or Securities of authorized denominations for the principal amount thereof remaining unredeemed; 
 (e) the Place of Payment where such Securities are to be surrendered for payment for the Redemption Price; 
 (f) that Securities called for redemption must be surrendered to the Paying Agent to collect the Redemption Price;

  

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 (g) that, on the Redemption Date, the Redemption Price will become due and
payable upon each such Security, or the portion thereof, to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date; and 
 (h) the CUSIP, ISIN or Common Code number, if any, of the Securities. 
 Notice of redemption of Securities to be redeemed shall be given by the Company or, at the Company’s request, by the Trustee in the
name and at the expense of the Company; provided however that in the latter case, the Company shall provide the Trustee written notice of such request at least ten days prior to the requested date of the giving of such notice. 
 Section 5.5. Deposit of Redemption Price. On or prior to any Redemption Date, the Company shall deposit with the Trustee or with a
Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 2.4 herein) an amount of money sufficient to pay on the Redemption Date the Redemption Price of, and (unless the
Redemption Date shall be an interest payment date) interest accrued to the Redemption Date on, all Securities or portions thereof which are to be redeemed on that date. 
 Section 5.6. Securities Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the
Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of any such Security, for
redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date; provided, however, that installments of interest whose Stated
Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more predecessor Securities, registered as such at the close of business on the relevant record dates according to their terms. 

If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any)
shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 
 Section 5.7.
Securities Redeemed in Part. Upon surrender of a Security that is redeemed in part at the office or agency of the Company maintained for such purpose pursuant to Section 2.3 herein (with, if the Company or the Trustee so requires, due
endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), the Company shall execute and the Trustee shall authenticate
and deliver to the Holder of that Security, without service charge, a new Security or Securities, having the same form, terms and Stated Maturity, in any authorized denomination equal in aggregate principal amount to the unredeemed portion of the
principal amount of the Security surrendered. 
 Section 5.8. Optional Redemption. 
 (a) At any time prior to November 1, 2012, the Company may redeem up to 35% of the aggregate principal amount of
Securities issued under this Indenture (including any Additional Securities) at a Redemption Price of     % of the principal amount thereof, plus

  

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accrued and unpaid interest and Additional Interest, if any, thereon to the Redemption Date, subject to the rights of Holders of Securities on the relevant record date to receive interest due on
the relevant Interest Payment Date, with the Net Cash Proceeds of one or more Public Equity Offerings; provided that: 
 (1) at least 65% of the aggregate principal amount of Securities issued under the Indenture (including any Additional Securities) remains outstanding immediately after the occurrence of such redemption
(excluding Securities held by the Company or its Affiliates); and 
 (2) the redemption must occur within
60 days of the date of the closing of such Public Equity Offering. 
 On or after November 1, 2014, the Company may
redeem all or a part of the Securities, at the Redemption Prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest and Additional Interest, if any, thereon, to the applicable Redemption Date, subject to
the rights of Holders of the Securities on the relevant record date to receive interest due on the relevant Interest Payment Date, if redeemed during the twelve-month period beginning on November 1 of the years indicated below: 
  

				
	 Year
	  	Percentage	 
	 2014
	  	    	% 
	 2015
	  	    	% 
	 2016
	  	    	% 
	 2017 and thereafter
	  	100.000	% 

 Not more than once during each twelve-month period ending on November 1 of 2010,
2011, 2012, 2013 and 2014, the Company may redeem up to $50 million in principal amount of the Securities in each such twelve-month period, upon not less than 30 nor more than 60 days’ notice, at a redemption price equal to 103% of the
principal amount of the Securities redeemed, plus accrued and unpaid interest, if any, to the date of redemption (subject to the rights of Holders of the Securities on the relevant record date to receive interest on the relevant Interest Payment
Date). 
 In addition, at any time prior to November 1, 2014, the Company may redeem the Securities, in whole or in part,
at a Redemption Price equal to 100% of the principal amount thereof plus the Applicable Premium, plus accrued and unpaid interest, if any, to 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). 
 Section 5.9. Offer to Repurchase Upon a Change of Control.

 (a) If a Change of Control occurs, each Holder shall have the right to require the Company to repurchase all
or any part (equal to $2,000 or an integral multiples of $1,000 in excess thereof) of that Holder’s Securities pursuant to the Change of Control offer on the terms set forth in this Indenture (a “Change of Control Offer”). In
the Change of Control Offer, the Company shall offer a Change of Control Payment in cash equal to 101% of the aggregate principal amount of Securities repurchased plus accrued and unpaid interest on the Securities

  

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repurchased to the date of purchase. Within 30 days following any Change of Control, the Company shall mail a notice to each Holder stating: 
 (i) the transaction or transactions that constitute the Change of Control; 
 (ii) that the Change of Control Offer is being made pursuant to this Section 5.9 and that all Securities tendered
shall be accepted for payment; 
 (iii) the purchase price and the purchase date, which date shall be no earlier
than 30 days and no later than 60 days from the date the notice is mailed (the “Change of Control Payment Date”); 
 (iv) that any Security not tendered shall continue to accrue interest; 
 (v) that, unless the Company defaults in the payment of the Change of Control Payment, all Securities accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change of Control Payment Date;

 (vi) that Holders electing to have any Securities purchased pursuant to a Change of Control Offer shall be
required to surrender the Securities, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Securities completed, to the Paying Agent at the address specified in the notice prior to the close of business on the
third Business Day preceding the Change of Control Payment Date; 
 (vii) that Holders shall be entitled to
withdraw their election if the Paying Agent receives, not later than the close of business on the second Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of the
Holder, the principal amount of Securities delivered for purchase, and a statement that such Holder is withdrawing his election to have the Securities purchased; and 
 (viii) that Holders whose Securities are being purchased only in part shall be issued new Securities equal in principal
amount to the unpurchased portion of the Securities surrendered, which unpurchased portion must be equal to $1,000 in principal amount or an integral multiple thereof. 
 The Company shall comply with the requirements of Section 14(e) and Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and
regulations are applicable in connection with the repurchase of the Securities as a result of a Change of Control. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control provisions of this
Indenture, the Company shall comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control provisions of this Indenture by virtue of such conflict. 
  

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 (b) On the Change of Control Payment Date, the Company shall, to the extent
lawful: 
 (i) accept for payment all Securities or portions of Securities properly tendered pursuant to the
Change of Control offer; 
 (ii) deposit with the Paying Agent an amount equal to the Change of Control Payment
in respect of all Securities or portions of Securities properly tendered; and 
 (iii) deliver or cause to be
delivered to the Trustee the Securities so accepted together with an Officers’ Certificate stating the aggregate principal amount of Securities or portions of Securities being purchased by the Company. 
 The Paying Agent shall promptly mail to each Holder of Securities properly tendered the Change of Control Payment for such Securities, and
the Trustee shall promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Security equal in principal amount to any unpurchased portion of the Securities surrendered, if any; provided that each new
Security will be in a principal amount of $2,000 and an integral multiple of $1,000 in excess thereof. 
 The Company shall
publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date. 
 The provisions described above that require the Company to make a Change of Control Offer following a Change of Control will be applicable regardless of whether any other provisions of this Indenture are applicable. 
 The Company will not be required to make a Change of Control Offer upon a Change of Control if (1) a third party makes the Change of
Control Offer in the manner, at the times and otherwise in compliance with the requirements described herein applicable to a Change of Control Offer made by the Company and purchases all Securities validly tendered and not withdrawn under such
Change of Control Offer or (2) a notice of redemption has been given pursuant to the Indenture as described under Section 5.8, unless and until there is a default in the payment of the applicable redemption price. A Change of
Control Offer may be made in advance of a Change of Control and may be conditional upon the occurrence of a 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.

 ARTICLE VI 
 DEFAULTS AND REMEDIES 
 Section 6.1. Events of Default. An “Event of Default” occurs with respect to
the Securities if (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body): 
  

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 (a) default in the payment of principal of, or premium, if any, on any
Security when due at maturity, upon repurchase, upon acceleration or otherwise, including, without limitation, failure of the Company to repurchase any Security on the date required following a Change of Control; or 
 (b) default in the payment of any installment of interest or Additional Interest, if any on any Security when due and
continuance of such Default for 30 days or more; or 
 (c) failure to observe, perform or comply with
Section 4.1; or 
 (d) default (other than a default set forth in paragraphs (a),
(b) and (c) above) in the performance of, or breach of, any other covenant or warranty of the Company or of any Restricted Subsidiary in this Indenture, or in the Securities and failure to remedy such default or breach within
a period of 30 days after written notice from the Trustee or the Holders of at least 25% in aggregate principal amount of the then outstanding Securities; or 
 (e) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or
evidenced any Indebtedness for money borrowed by the Company or any Subsidiary of the Company (other than a Securitization Subsidiary) (or the payment of which is guaranteed by the Company or any Restricted Subsidiary of the Company), which default
is caused by a failure to pay principal of or premium, if any, on such Indebtedness upon its stated maturity or which default results in the acceleration of such Indebtedness prior to its express maturity and the principal amount of any such
Indebtedness, together with the principal amount of any other such Indebtedness the maturity of which has been so accelerated, aggregates $50.0 million or more and such acceleration has not been rescinded or annulled or such Indebtedness
discharged in full within 30 days; or 
 (f) the entry by a court of competent jurisdiction of one or more
judgments, orders or decrees against the Company or any Subsidiary of the Company (other than a Securitization Subsidiary) or any of their respective property or assets in an aggregate amount in excess of $50.0 million, which judgments, orders or
decrees have not been vacated, discharged, satisfied or stayed pending appeal within 30 days from the entry thereof and with respect to which legal enforcement proceedings have been commenced; 
 (g) the Company, any Subsidiary Guarantor or any Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy
Law, (i) commences a voluntary case or proceeding, (ii) consents to the entry of an order for relief against it in an involuntary case or proceeding, (iii) consents to the appointment of a Custodian of it or for all or substantially
all of its property, (iv) makes a general assignment for the benefit of its creditors, (v) makes an admission in writing of its inability to pay its debts generally as they become due or (vi) takes corporate action in furtherance of
any such action; or 
 (h) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law
that (i) is for relief against the Company, any Subsidiary Guarantor or any Significant Subsidiary, in an involuntary case, (ii) adjudges the Company, any Subsidiary Guarantor or any Significant Subsidiary as bankrupt or insolvent, or
approves as properly filed a petition seeking reorganization, arrangement, and adjustment or composition of or in respect of

  

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the Company, any Subsidiary Guarantor or any Significant Subsidiary, or appoints a Custodian of the Company, any Subsidiary Guarantor or any Significant Subsidiary, or for all or substantially
all of its property, or (iii) orders the liquidation of the Company, any Subsidiary Guarantor or any Significant Subsidiary and the decree remains unstayed and in effect for 60 days. 
 The Company shall deliver to the Trustee, as soon as practicable (and in any event within five Business Days), written notice in the form of
an Officers’ Certificate of any Default, its status and what action the Company is taking or proposes to take with respect thereto. 
 As used in this Indenture, the term “Bankruptcy Law” means Title 11, U.S. Code, or any similar federal or state bankruptcy, insolvency, reorganization or other law for the relief of
debtors. As used in this Indenture, the term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 
 Section 6.2. Acceleration; Rescission and Annulment. If an Event of Default (other than an Event of Default specified in Section 6.1(g) or (h) above involving the Company)
occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the then outstanding Securities may, and the Trustee shall upon the request of Holders of not less than 25% in
aggregate principal amount of the Securities then outstanding, declare the unpaid principal of, premium, if any, accrued and unpaid interest and Additional Interest, if any on all the Securities then outstanding to be due and payable, by a notice in
writing to the Company (and to the Trustee, if given by Holders) and upon such declaration such principal amount, premium, if any, accrued and unpaid interest and Additional Interest, if any will become immediately due and payable, notwithstanding
anything contained in this Indenture or the Securities to the contrary. If an Event of Default specified in Section 6.1(g) or (h) above involving the Company occurs, all unpaid principal of, and premium, if any, and accrued
and unpaid interest and Additional Interest, if any on the Securities then outstanding will ipso facto become due and payable. 
 The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may rescind an acceleration of the Securities and its consequences if all existing Events of Default (other than the
nonpayment of principal of and premium, if any, interest and Additional Interest, if any on the Securities which has become due solely by virtue of such acceleration) have been cured or waived and if the rescission would not conflict with any
judgment or decree. No such rescission shall affect any subsequent Default or impair any right consequent thereto. 
 Section 6.3. Collection of Indebtedness and Suits for Enforcement by Trustee. 
 The Company covenants that if:

 (a) default is made in the payment of any interest on any Security, if any, when such interest becomes due and
payable and such default continues for a period of 30 days, or 
 (b) default is made in the payment of the
principal of (or premium, if any, on) any Security at the Maturity thereof, the Company will, upon demand of the Trustee, pay to it,

  

 73 

 
for the benefit of the Holder of such Security, the whole amount then due and payable on such Security for principal, premium, if any, interest, if any, and Additional Interest, if any, and, to
the extent that payment of such interest shall be legally enforceable, interest on any overdue principal, premium, if any, and on any overdue interest, if any, and Additional Interest, if any, at the rate or rates prescribed therefore in such
Security and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.

 If an Event of Default with respect to the Securities occurs and is continuing, the Trustee may in its discretion proceed to
protect and enforce its rights and the rights of the Holders of Securities by such appropriate judicial proceedings as the Trustee shall deem necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or
agreement in this Indenture or in aid of the exercise of any power granted herein, or to secure any other proper remedy. 
 Section 6.4. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or documents and take such actions authorized under the Trust Indenture Act as may be necessary or advisable in order to have the
claims of the Trustee and the Holders of Securities allowed in any judicial proceedings relating to the Company (or any other obligor upon the Securities), its creditors or its property. In particular, the Trustee shall be authorized to collect and
receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby
authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.9 herein. 
 Section 6.5. Trustee May Enforce Claims Without Possession of Securities. All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee, in its
own name as an express trust, without the possession of any of the Securities or the production thereof in any proceeding relating thereto and any recovery of judgment shall, after provision for the reasonable fees and expenses of the Trustee and
its counsel, be for the ratable benefit of the Holders of the Securities in respect to which judgment was recovered. 
 Section 6.6. Delay or Omission Not Waiver. No delay or omission by the Trustee or any Holder of any Securities to exercise any right or remedy accruing upon an Event of Default shall impair any such right or remedy or constitute a
waiver of or acquiescence in any such Event of Default. 
 Section 6.7. Waiver of Past Defaults. In addition to the
provisions of Section 6.2 herein, the Holders of a majority in aggregate principal amount of Outstanding Securities by written notice to the Trustee may waive on behalf of the Holders of all Securities a past Default or Event of Default
and its consequences except (a) a Default or Event of Default in the payment of the principal of, or premium, if any, interest, if any, or Additional Interest, if any, on any

  

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Security or (b) an Event of Default resulting from the breach of a covenant or provision hereof which pursuant to Section 9.2 herein cannot be amended or modified without the
consent of the Holder of each Outstanding Security adversely affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture.

 Section 6.8. Control by Majority. The Holders of a majority in aggregate principal amount of the Outstanding Securities
shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it with respect to the Securities; provided, however, that
(a) the Trustee may refuse to follow any direction that conflicts with law or this Indenture (b) the Trustee may refuse to follow any direction that is prejudicial to the rights of the Holders of Securities not consenting or that would in
the good faith judgment of the Trustee have a substantial likelihood of involving the Trustee in personal liability and (c) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. Prior
to the taking of any action hereunder, the Trustee shall be entitled to reasonable indemnification satisfactory to the Trustee against all losses and expenses caused by taking or not taking such action. This paragraph shall be in lieu of
Section 316(a)(1)(A) of the Trust Indenture Act and such Section 316(a)(1)(A) is hereby expressly excluded from this Indenture, as permitted by the Trust Indenture Act. 
 Section 6.9. Limitation on Suits by Holders. No Holder of any Security shall have any right to institute any proceeding, judicial or
otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
 (a) the Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities; 
 (b) the Holders of at least 25% in aggregate principal amount of the Outstanding Securities have made a written request to
the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (c) such Holder or Holders have offered to the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense to be, or which may be, incurred by the Trustee in pursuing the remedy; 
 (d) the Trustee for 60 days after its receipt of such notice, request and the offer of indemnity has failed to institute any
such proceedings; and 
 (e) during such 60 day period, the Holders of a majority in aggregate principal amount
of the Outstanding Securities have not given to the Trustee a direction inconsistent with such written request. 
 No one or
more Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 
  

 75 

 Section 6.10. Rights of Holders to Receive Payment. Notwithstanding any other provision
of this Indenture, but subject to Section 3.2 herein, the right of any Holder of a Security to receive payment of principal of, premium, if any, and, subject to Sections 2.1, 2.3 and 2.12 herein, interest, if
any, and Additional Interest, if any, on the Security, on or after the respective due dates expressed in the Security (or, in case of redemption, on the redemption dates), or, subject to Section 6.9 herein, 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. 
 Section 6.11. Application of Money Collected. If the Trustee collects any money pursuant to this Article, it shall pay out the money in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such money on account of principal, premium, if any, interest, if any, or Additional Interest, if any, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon
surrender thereof if fully paid: 
 First: to the Trustee for amounts due under Section 7.9 herein; 
 Second: to Holders of Securities in respect of which or for the benefit of which such money has been collected for amounts due and unpaid on
such Securities for principal of, premium, if any, interest, if any, and Additional Interest, if any, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal, premium, if any,
interest, if any, and Additional Interest, if any, respectively; and 
 Third: to the Company. 
 The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.11. At least 15 days
before such record date, the Trustee shall mail to each Holder and the Company a notice that states the record date, the payment date and the amount to be paid. 
 Section 6.12. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 
 Section 6.13. Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in the last paragraph of Section 2.9 herein, no right or remedy herein conferred upon or reserved to the Trustee or the Holders is intended to be exclusive of any other right or remedy, and every
right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.

  

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The assertion or employment of any existing right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

Notwithstanding the foregoing, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s
failure to comply with its obligations as set forth under Section 3.6, will after the occurrence of such an Event of Default consist exclusively of the right to receive additional interest on the Securities at a rate equal to 0.25% per
annum of the principal amount of the Securities outstanding for each day during the 90-day period beginning on, and including, the occurrence of such an Event of Default during which such Event of Default is continuing, and at a rate equal to
0.50% per annum of the principal amount of the Securities outstanding for each day from the 91st day until the 179th day during which such Event of Default is continuing (“Additional Interest”). 
 If the Company so elects, such Additional Interest will be payable in the same manner and on the same dates as the stated interest payable
on the Securities. On the 180th day after such Event of Default (if the Event of Default relating to the reporting obligations is not cured or waived prior to such 180th day), the Securities will be subject to acceleration as provided above. The
provisions of the Indenture described in this paragraph will not affect the rights of Holders of Securities in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Additional Interest
following an Event of Default in accordance with this paragraph, the Securities will be subject to acceleration as provided above. 
 In order to elect to pay the Additional Interest as the sole remedy during the first 179 days after the occurrence of an Event of Default relating to the failure to comply with the reporting obligations in accordance with the immediately
preceding paragraph, the Company must notify all Holders of Securities and the Trustee and paying agent of such election on or prior to the close of business on the business day before the date on which such Event of Default would occur and on or
prior to the close of business on the 91st day after the date on which such Event of Default occurs. Upon the Company’s failure to timely give such notice, the Securities will be immediately subject to acceleration as provided above.

 Section 6.14. Waiver of Usury, Stay or Extension Laws. The Company covenants (to the extent that it may lawfully do so)
that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or
the performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein
granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
 Section 6.15. 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
having due regard to the merits and good faith of the claims or defenses made by the party litigant. 
  

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 ARTICLE VII 
 TRUSTEE 
 Section 7.1. Certain Duties and Responsibilities of the Trustee.

 (a) Except during the continuance of an Event of Default, the Trustee’s duties and responsibilities under
this Indenture shall be governed by Section 315(a) of the Trust Indenture Act. 
 (b) In case an Event of
Default has occurred and is continuing with respect to the Securities, the Trustee shall exercise the rights and powers vested in it by this Indenture with respect to the Securities, and shall use the same degree of care and skill in their exercise,
as a prudent person would exercise or use under the circumstances in the conduct of his own affairs. 
 (c) No
provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that this subsection shall not be construed to limit the
effect of paragraph (a) of this Section 7.1; the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the
pertinent facts; and the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders in accordance with Section 6.8 herein relating to the time,
method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture. 
 Section 7.2. Rights of Trustee. Subject to the provisions of the Trust Indenture Act: 
 (a) the Trustee may conclusively rely and shall be protected in acting or refraining from acting upon 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 party or parties. The Trustee need not investigate any fact or matter stated in the document; 
 (b) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any resolution of the Board of Directors may be sufficiently
evidenced by a Board Resolution; 
 (c) whenever in the administration of this Indenture the Trustee shall deem
it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely
upon an Officers’ Certificate; 
 (d) the Trustee may consult with counsel of its selection and the advice
of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
  

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 (e) the Trustee may act through agents or attorneys and shall not be
responsible for the misconduct or negligence of any agent or attorney appointed with due care; 
 (f) the Trustee
shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers; 
 (g) the Trustee shall not be required to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of its rights or
powers; 
 (h) the Trustee shall not be bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further
inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation it shall be entitled to examine the books, records and premises of the Company, personally or by
agent or attorney at the expense of the Company and shall incur no liability of any kind by reason of such inquiry or investigation; 
 (i) 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 or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 
 (j) whether or not therein expressly so provided, 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 7.2; 
 (k) 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 to each agent, custodian and other Person employed to act hereunder; 
 (l) in no event shall the
Trustee be responsible or liable for special, indirect, 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; and 
 (m) the Trustee shall not be deemed to have notice of any
Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and
such notice references the Securities and this Indenture. 
 Section 7.3. Trustee May Hold Securities. The Trustee, any
Paying Agent, any Registrar or any other agent of the Company in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 310(b) and 311 of the Trust Indenture

  

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Act, may otherwise deal with the Company, an Affiliate of the Company or Subsidiary of the Company with the same rights it would have if it were not Trustee, Paying Agent, Registrar or such other
agent. 
 Section 7.4. Money Held in Trust. Money held by the Trustee in trust hereunder need not be segregated from other
funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed upon in writing with the Company. 
 Section 7.5. Trustee’s Disclaimer. The recitals contained herein and in the Securities, except the Trustee’s certificate of
authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities or any coupon.
The Trustee shall not be accountable for the Company’s use of the proceeds from the Securities or for monies paid over to the Company pursuant to this Indenture. 
 Section 7.6. Notice of Defaults. If a Default occurs and is continuing with respect to the Securities and if it is actually known to a Responsible Officer of the Trustee, the Trustee shall, within 90
days after it occurs, transmit by mail to the Holders of Securities, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, notice of all Defaults known to it unless such Default shall have been cured or waived;
provided, however, that except in the case of a Default in payment on the Securities or that resulted from the failure of the Company to comply with Sections 4.1 or 5.9, the Trustee may withhold the notice if and so long as its board
of directors, its executive committee or a committee of its Responsible Officers in good faith determines that withholding such notice is in the interests of Holders of Securities; and provided, further, that in the case of any Default
of the character specified in Section 6.1(b) herein with respect to Securities, no such notice to Holder shall be given until at least 30 days after the occurrence thereof. 
 Section 7.7. Reports by Trustee to Holders. Within 60 days after each May 15 of each year commencing with the first May 15
after the Issue Date, the Trustee shall transmit by mail to all Holders of Securities as provided in Section 313(c) of the Trust Indenture Act a brief report dated as of such May 15 if required by and in compliance with Section 313(a)
of the Trust Indenture Act. The Trustee shall also comply with Section 313(b) of the Trust Indenture Act, if applicable. A copy of each such report required pursuant to Section 313(a) or 313(b) of the Trust Indenture Act shall, at the time
of such transmission to Holders, be filed by the Trustee with each stock exchange, if any, upon which the Securities are listed, with the Commission and with the Company. The Company will promptly notify the Trustee when the Securities are listed
on, or delisted from, any stock exchange. 
 Section 7.8. Securityholder Lists. The Trustee shall preserve in as current a
form as is reasonably practicable the most recent list available to it of the names and addresses of Holders of the Securities. If the Trustee is not the Registrar, the Company shall furnish to the Trustee semiannually on or before the last day of
June and December in each year, 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 containing all the information in the possession or control of
the Registrar, the Company or any of its Paying Agents other than the Trustee as to the names and addresses of Holders of the Securities. 
  

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 Section 7.9. Compensation and Indemnity. 
 (a) Each of the Company and the Guarantor, jointly and severally, shall pay to the Trustee from time to time such reasonable
compensation for its services as the Company and the Trustee shall agree in writing from time to time. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the
Trustee upon request for all out-of-pocket expenses incurred by it in connection with the performance of its duties under this Indenture. Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel.

 (b) Each of the Company and the Guarantor, jointly and severally, shall fully indemnify the Trustee or any
Predecessor Trustee and their agents for, and hold them harmless against, any and all loss, liability, damage, claim or reasonable expense including legal fees and expenses and taxes (other than taxes based upon or determined or measured by the
income of the Trustee) incurred by it arising out of or in connection with its acceptance or administration of the trust or trusts hereunder, including the reasonable costs and expenses of defending itself against any claim or liability in
connection with the exercise or performance of any of its powers or duties hereunder. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity of which a Responsible Officer has received written notice. The Company
shall defend the claim and the Trustee shall cooperate in the defense. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. 
 (c) The Company need not reimburse any expense or indemnify against any loss, liability, damage or claim incurred by the
Trustee as determined by a court of competent jurisdiction to have been caused by its own negligence or bad faith or willful misconduct. 
 (d) To secure the payment obligations of the Company pursuant to this Section, the Trustee shall have a lien prior to the Securities on all money or property held or collected by the Trustee, except that
held in trust to pay principal, premium, if any, interest, if any, and Additional Interest, if any, on particular Securities. 
 When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 6.1(g) or (h) herein, the expenses (including the reasonable charges and expenses of its counsel) and
the compensation for the services are intended to constitute expenses of administration under any applicable Federal or state bankruptcy, insolvency or other similar law. 
 The provisions of this Section shall survive the termination of this Indenture. 
 Section 7.10. Replacement of Trustee. 
 (a) The resignation or removal of the Trustee and the
appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in Section 7.11 herein. 
  

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 (b) The Trustee may resign at any time with respect to the Securities by
giving written notice thereof to the Company. 
 (c) The Holders of a majority in aggregate principal amount of
the Outstanding Securities may remove the Trustee by so notifying the Trustee and the Company and may appoint a successor Trustee with the Company’s consent. 
 (d) If at any time: 
 (i) the Trustee fails to comply with Section 310(b) of the Trust Indenture Act after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at
least six months; or 
 (ii) the Trustee shall cease to be eligible under Section 7.12 herein or
Section 310(a) of the Trust Indenture Act and shall fail to resign after written request therefor by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months; or 
 (iii) the Trustee becomes incapable of acting, is adjudged a bankrupt or an insolvent or a receiver or public officer takes
charge of the Trustee or its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by or pursuant to a Board Resolution may remove the Trustee with respect to all Securities,
or (B) subject to Section 315(e) of the Trust Indenture Act, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 
 (e) If the instrument of acceptance by a successor Trustee required by Section 7.11 herein shall not have been delivered to the Trustee within 30 days after the giving of such notice of
resignation or removal, the Trustee resigning or being removed may petition at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities. 
 (f) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company, by or
pursuant to a Board Resolution, shall promptly appoint a successor Trustee and shall comply with the applicable requirements of Section 7.11 herein. If, within one year after such resignation, removal or incapability, or the occurrence
of such vacancy, a successor Trustee shall be appointed by the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its
acceptance of such appointment in accordance with the applicable requirements of Section 7.11 herein, become the successor Trustee with respect to the Securities and to that extent supersede the successor Trustee appointed by the
Company. If no successor Trustee shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 7.11 herein, any Holder who has been a bona fide Holder of a Security for at least six
months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee. 
  

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 Section 7.11. Acceptance of Appointment by Successor. 
 (a) In case of the appointment hereunder of a successor Trustee, every such successor Trustee shall execute, acknowledge and
deliver to the Company and to the retiring Trustee an instrument accepting such appointment. Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee, without further act, deed or conveyance,
shall become vested with all the rights, powers and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring
to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. 
 (b) Upon request of any such successor Trustee, the Company shall execute any and all instruments for more fully and
certainly vesting in and confirming to the successor Trustee all such rights, powers and trusts referred to in paragraph (a) of this Section 7.11. 
 (c) No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be
qualified and eligible under the Trust Indenture Act. 
 (d) The Company shall give notice of each resignation
and each removal of the Trustee and each appointment of a successor Trustee in the manner provided for notices to the Holders of Securities in Section 11.2 herein. Each notice shall include the name of the successor Trustee and the
address of its Corporate Trust Office. 
 Section 7.12. Eligibility; Disqualification. There shall at all times be a
Trustee hereunder which shall be eligible to act as Trustee under Section 310(a)(1) of the Trust Indenture Act and shall have a combined capital and surplus of at least $75,000,000. If such corporation publishes reports of condition at least
annually, pursuant to law or the requirements of Federal, State, Territorial or District of Columbia supervising or examining authority, then, for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to
be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner
and with the effect heretofore specified in this Article. 
 Section 7.13. Merger, Conversion, Consolidation or Succession
to Business. Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation
succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or
filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any

  

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successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor
Trustee had itself authenticated such Securities. 
 Section 7.14. Appointment of Authenticating Agent. The Trustee may
appoint an Authenticating Agent with respect to the Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities issued upon original issue, exchange, registration of transfer or partial redemption thereof, and
Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Any such appointment shall be evidenced by an instrument in writing
signed by a Responsible Officer of the Trustee, a copy of which instrument shall be promptly furnished to the Company. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s
certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating
Agent. Each Authenticating Agent shall be acceptable to the Company. 
 Any corporation into which an Authenticating Agent may
be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or
corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or further act on the part of
the Trustee or the Authenticating Agent. 
 An Authenticating Agent may at any time resign by giving written notice of
resignation to the Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon receiving such notice of
resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable
to the Company and shall give notice of such appointment to all Holders of Securities with respect to which such Authenticating Agent will serve in the manner set forth in Section 11.2 herein. Any successor Authenticating Agent upon
acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent herein. No successor Authenticating Agent shall be
appointed unless eligible under the provisions of this Section. 
 The Company agrees to pay to each Authenticating Agent from
time to time reasonable compensation including reimbursement of its reasonable expenses (including legal fees) for its services under this Section. 
 If an appointment is made pursuant to this Section, the Securities may have endorsed thereon, in addition to or in lieu of the Trustee’s certificate of authentication, an alternate certificate of
authentication substantially in the following form: 
  

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 This is one of the Securities described in the within-mentioned Indenture. 
  

			
	  

	 as Trustee

		
	 by
	 	  

	as Authenticating Agent
		
	 by
	 	  

	Authorized Signatory

 ARTICLE VIII 
 DISCHARGE OF INDENTURE; DEFEASANCE 
 Section 8.1.
Termination of Company’s Obligations Under this Indenture. This Indenture shall upon a Company Request cease to be of further effect with respect to the Securities (except as to any surviving rights of registration of transfer or exchange of
such Securities and replacement of such Securities which may have been lost, stolen or mutilated as herein expressly provided for) and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and
discharge of this Indenture with respect to such Securities when 
 (a) either 
 (i) all such Securities previously authenticated and delivered (other than (A) such Securities which have been lost,
stolen or destroyed and which have been replaced or paid, as provided in Section 2.9 herein, and (B) such Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust as provided in Section 3.4 herein) have been delivered to the Trustee for cancellation, or 
 (ii) all Securities not theretofore delivered to the Trustee for cancellation (i) have become due and payable,
(ii) will become due and payable at their Stated Maturity within one year, or (iii) are to be called for redemption within one year under arrangements reasonably satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense, of the Company and the Company has irrevocably deposited or caused to be deposited with the Trustee funds in an amount sufficient to pay and discharge the entire Indebtedness of the Securities issued
hereunder not theretofore delivered to the Trustee for cancellation, for principal of, premium, if any, interest and Additional Interest, if any, on the Securities issued hereunder to the date of deposit together with irrevocable instructions from
the Company directing the Trustee to apply such funds to the payment thereof at maturity; or 
 (b) 

(i) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 
  

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 (ii) the Company delivered to the Trustee an Officers’ Certificate and
an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligation of the Company to the Trustee and any predecessor Trustee under Section 7.9 herein, the obligations of the
Company to any Authenticating Agent under Section 7.14 herein and, if money shall have been deposited with the Trustee pursuant to clause (ii) of paragraph (a) of this Section, the obligations of the Trustee under
Section 7.1 herein and the last paragraph of Section 3.4 herein shall survive such satisfaction and discharge. 
 Section 8.2. Application of Trust Funds. Subject to the provisions of the last paragraph of Section 3.4 herein, all money deposited with the Trustee pursuant to Section 8.1
herein shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the
Trustee may determine, to the Persons entitled thereto, of the principal, premium, if any, interest, if any, and Additional Interest, if any, for whose payment such money has been deposited with or received by the Trustee, but such money need not be
segregated from other funds except to the extent required by law. 
 Section 8.3. Company’s Option to Effect
Defeasance or Covenant Defeasance. The Company may at its option by or pursuant to Board Resolution, at any time, elect to have Sections 8.4 or 8.5 herein be applied to the Outstanding Securities upon compliance with the
conditions set forth below in this Article. 
 Section 8.4. Defeasance and Discharge. Upon the Company’s exercise of
the option specified in Section 8.3 above applicable to this Section, the Company shall be deemed to have been discharged from its obligations with respect to such Securities on and after the date the conditions set forth in
Section 8.6 herein are satisfied (hereinafter “defeasance”). For this purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Securities which
shall thereafter be deemed to be “Outstanding” only for the purposes of Section 8.7 herein and the other Sections of this Indenture referred to in clause (b) of this Section, and to have satisfied all its other obligations
under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall on a Company Order execute proper instruments acknowledging the same), except the following, which shall survive
until otherwise terminated or discharged hereunder: (a) the rights of Holders of such Securities to receive, solely from the trust funds described in Section 8.6(a) herein and as more fully set forth in such Section, payments in
respect of the principal of, premium, if any, interest, if any, and Additional Interest, if any, on such Securities when such payments are due; (b) the Company’s obligations with respect to such Securities under Sections 2.3,
2.5, 2.9, 2.10, 3.3 and 3.4 herein; (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (d) this Article VIII. Subject to compliance with this
Article VIII, the Company may exercise its option under this Section notwithstanding the prior exercise of its option under Section 8.5 herein with respect to such Securities. Following a defeasance, payment of such
Securities may not be accelerated because of an Event of Default. 
  

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 Section 8.5. Covenant Defeasance. Upon the Company’s exercise of the option
specified in Section 8.3 herein applicable to this Section, the Company shall be released from its obligations under Article III (except as otherwise provided in Section 8.4 herein), Article IV and
Section 5.9 herein (and with respect to Section 3.7, shall be required to certify only with respect to those covenants not defeased pursuant to this Section 8.5) with respect to such Securities on and after the
date the conditions set forth in Section 8.6 herein are satisfied (hereinafter, “covenant defeasance”), and such Securities shall thereafter be deemed to be not “Outstanding” for the purposes of any direction, waiver,
consent or declaration or Act of Holders (and the consequences of any thereof) in connection with Article III (except as otherwise provided in Section 8.4 herein), Article IV and Section 5.9 herein,
but shall continue to be deemed “Outstanding” for all other purposes hereunder. For this purpose, such covenant defeasance means that the Company may omit to comply with and shall have no liability in respect of any term, condition or
limitation set forth in any such Section or such other covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such Section or such other covenant or by reason of reference in any such Section or such other
covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under Section 6.1(c) herein or otherwise, but, except as specified above, the remainder of
this Indenture and such Securities shall be unaffected thereby. 
 Section 8.6. Conditions to Defeasance or Covenant
Defeasance. The following shall be the conditions to the application of Sections 8.4 or 8.5 herein to any Securities: 
 (a) The Company shall have deposited or caused to be deposited irrevocably with the Trustee (or another trustee satisfying the requirements of Section 7.12 herein who shall agree to comply
with, and shall be entitled to the benefits of, the provisions of Sections 8.3 through 8.9 inclusive applicable to the Trustee, for purposes of such Sections also a “Trustee”) as trust funds in trust for the purpose of
making the payments referred to in this Section 8.6(a), specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities, with instructions to the Trustee as to the application thereof,
(A) money in an amount, or (B) Government Obligations which through the payment of interest, if any, and principal in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment
referred to in this Section 8.6(a), money in an amount or (C) a combination thereof in an amount sufficient, without reinvestment, to pay and discharge, and which shall be applied by the Trustee to pay and discharge the principal
of, premium, if any, interest, if any, and Additional Interest, if any, on such Securities on the Maturity of such principal or installment of principal or interest, if any. Before such a deposit the Company may make arrangements satisfactory to the
Trustee for the redemption or purchase of Securities at a future date or dates in accordance with Article V which shall be given effect in applying the foregoing. 
 (b) Such defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a Default or Event of
Default under, this Indenture or result in a breach or violation of, or constitute a default under, any other material agreement or instrument to which the Company is a party or by which it is bound, in each case, on the date of such deposit
pursuant to Section 8.6(a) above (other than in each case a Default or default resulting solely from the borrowing of funds to be applied to such deposit). 
  

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 (c) In the case of an election under Section 8.4 herein, the
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that the Company has received from, or there has been published by, the Internal Revenue Service a ruling to the effect that, and based
thereon such opinion shall confirm that, the Holders of such Securities will not recognize income, gain or loss for Federal income tax purposes as a result of such defeasance and will be subject to Federal income tax on the same amount and in the
same manner and at the same times, as would have been the case if such deposit, defeasance and discharge had not occurred. 
 (d) In the case of an election under Section 8.5 herein, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not
recognize income, gain or loss for Federal income tax purposes as a result of such covenant defeasance and will be subject to 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. 
 (e) The Company shall have delivered to the Trustee an Officers’
Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance under Section 8.4 herein or the covenant defeasance under Section 8.5 herein (as the case may be) have been complied with.

 (f) No Default or Event of Default under Sections 6.1(g) or (h) herein with respect to
such Securities shall have occurred and be continuing on the date of such deposit and the Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by it with the intent of preferring the Holders
over any of its creditors or with the intent of defeating, hindering, delaying or defrauding any of its other creditors. 
 (g) Such defeasance or covenant defeasance shall not result in the trust arising from such deposit constituting an investment company within the meaning of the Investment Company Act of 1940 unless such
trust shall be registered under such Act or exempt from registration thereunder. 
 (h) such defeasance or
covenant defeasance shall not cause the Trustee to have a conflicting interest with respect to any securities of the Company. 
 Notwithstanding the foregoing, no Opinion of Counsel requested by paragraphs (c) or (d) need be delivered if at such time all outstanding Securities have been irrevocably called for redemption. 
 Section 8.7. Deposited Money and Government Obligations to Be Held in Trust. Subject to the provisions of the last paragraph of
Section 3.4 herein, all money and Government Obligations (including the proceeds thereof) deposited with the Trustee in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of
such Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities of all sums due and to become due
thereon in respect of principal, premium, if any, interest, if any, and Additional Interest, if any, but such money need not be segregated from other funds except to the extent required by law. 
  

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 Section 8.8. Repayment to Company. To the extent permitted by the Financial Accounting
Standards Board Statement of Financial Accounting Standards No. 76, as amended or interpreted by the Financial Accounting Standards Board from time to time, or any successor thereto (“Standard No. 76”), or to the extent permitted
by the Commission, the Trustee shall, from time to time, take one or more of the following actions as specified in a Company Request: (a) retransfer, reassign and deliver to the Company any securities deposited with the Trustee pursuant to
Section 8.6(a) herein; provided that the Company shall, in substitution therefor, simultaneously transfer, assign and deliver to the Trustee other Governmental Obligations appropriate to satisfy the Company’s obligations in
respect of the relevant Securities; and (b) the Trustee and Paying Agent shall promptly pay to the Company upon Company Request any excess money or securities held by them at any time, including, without limitation, any assets deposited with
the Trustee pursuant to Section 8.6(a) exceeding those necessary for the purposes of Section 8.6(a) herein. The Trustee shall not take the actions described in subsections (a) and (b) of this Section 8.8
herein unless it shall have first received a written report of KPMG LLP, or another nationally recognized independent public accounting firm, (i) expressing their opinion that the contemplated action is permitted by Standard No. 76 or the
Commission for transactions accounted for as extinguishment of debt under the circumstances described in paragraph 3.c of Standard No. 76 or any successor provision, and (ii) verifying the accuracy, after giving effect to such action
or actions, of the computations which demonstrate that the amounts remaining to be earned on the Government Obligations deposited with the Trustee pursuant to Section 8.6(a) will be sufficient for purposes of Section 8.6(a)
herein. 
 Section 8.9. Indemnity for Government Obligations. The Company shall pay, and shall indemnify the Trustee
against, any tax, fee or other charge imposed on or assessed against Government Obligations deposited pursuant to this Article or the principal and interest, if any, and any other amount received on such Government Obligations. 
 ARTICLE IX 
 SUPPLEMENTAL INDENTURES 
 Section 9.1. Supplemental Indentures Without Consent of Holders. Without the consent of
any Holders, the Company, when authorized by or pursuant to a Board Resolution and the Trustee at any time and from time to time, may enter into indentures supplemental hereto, in form reasonably satisfactory to the Trustee, for any of the following
purposes: 
 (a) to evidence the succession of another corporation to the Company and the assumption by any such
successor of the covenants and obligations of the Company herein and in the Securities; or 
 (b) to add to the
covenants of the Company for the benefit of the Holders of the Securities or to surrender any right or power herein conferred upon the Company; provided, however, that in respect of any such additional covenant such supplemental
indenture may provide for a particular period of grace after Default (which period may be shorter or longer than that allowed in the case of other Defaults) or may limit the remedies available to the Trustee upon such Default; or 
  

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 (c) to add any additional Events of Default with respect to the Securities;
or 
 (d) to secure the Securities; or 
 (e) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee and to add to or change any of
the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trust hereunder by the Trustee, pursuant to the requirements of Section 7.11 herein; or 
 (f) to qualify or maintain the qualification of the Indenture under the TIA; 
 (g) if allowed without penalty under applicable laws and regulations, to permit payment in respect of the Securities in
bearer form in the United States; or 
 (h) to correct or supplement any provision herein which may be
inconsistent with any other provision herein or to make any other provisions with respect to matters or questions arising under this Indenture, provided such action shall not adversely affect the interests of the Holders of Securities
affected thereby; or 
 (i) to cure an ambiguity or correct any mistake, provided such action shall not adversely
affect the interests of the Holders of Securities; or 
 (j) to add a Subsidiary Guarantor or remove a Subsidiary
Guarantor, which, in accordance with the terms of this Indenture, ceases to be liable in respect of its Subsidiary Guarantee. 
 Section 9.2. Supplemental Indentures with Consent of Holders. With the written consent of the Holders of a majority of the aggregate principal amount of the Outstanding Securities adversely affected by such supplemental indenture, the
Company, when authorized by or pursuant to a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto to add any provisions to or to change or eliminate any provisions of this Indenture or of any other
indenture supplemental hereto or to modify the rights of the Holders of such Securities; provided, however, that without the consent of the Holder of each Outstanding Security affected thereby, a supplemental indenture under this
Section may not: 
 (a) change the Stated Maturity of the principal of, or premium, if any, on, or any
installment of principal of or premium, if any, interest, if any, or Additional Interest, if any, on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption, repurchase or
repayment thereof, or extend the time for payment of interest on any Security or change the manner in which the amount of any principal thereof or premium, if any, interest, if any, or Additional Interest, if any, thereon is determined (other than
those provisions referenced in paragraph (h) of this Section 9.2) in a manner adverse to the holders of the Securities, 
  

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 (b) change the Place of Payment where or the currency in which any Security
or any premium, the interest or Additional Interest, if any, thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the
Redemption Date); 
 (c) reduce the percentage in principal amount of the Outstanding Securities, the consent of
whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in
this Indenture; 
 (d) change any obligation of the Company to maintain an office or agency in the places and for
the purposes specified in Section 3.3 herein; 
 (e) make any change in Section 6.7
herein (other than to add sections to institute suit for the enforcement of any payment on or with respect to the Securities) or this Section 9.2 (other than to add sections which may not be amended, supplemented or waived without the
consent of each holder affected thereby); 
 (f) waive a default in the payment of principal of, interest on, or
redemption payment with respect to, the Securities (except a rescission of acceleration of the Securities by the holders thereof as provided in this Indenture and a waiver of the payment default that resulted from such acceleration); 
 (g) modify the ranking or priority of the Securities in a manner that would be adverse to the holders of the Securities
affected thereby; or 
 (h) modify the provisions relating to any Offer to Purchase required under the covenants
described under Section 3.13 if an Asset Sale Offer Trigger Date has occurred or Section 5.9 if a Change of Control has occurred in a manner materially adverse to the holders of the Securities affected thereby. 
 It is not necessary under this Section 9.2 for the Holders to consent to the particular form of any proposed supplemental
indenture, but it is sufficient if they consent to the substance thereof. 
 Upon the request of the Company, accompanied by an
Officers’ Certificate and a Board Resolution authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Holders as aforesaid, the Trustee shall join with the Company in the
execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may, but shall not be obligated to, enter into such
supplemental indenture. 
 Section 9.3. Compliance with Trust Indenture Act. Every amendment to this Indenture or the
Securities shall be set forth in a supplemental indenture that complies with the Trust Indenture Act as then in effect. 
  

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 Section 9.4. Execution of Supplemental Indentures. In executing, or accepting the
additional trusts created by, any supplemental indenture permitted by this Article or the modification thereby of the trusts created by this Indenture, the Trustee shall be provided with and shall be fully protected in relying upon, an Opinion of
Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights,
duties or immunities under this Indenture or otherwise. 
 Section 9.5. Effect of Supplemental Indentures. Upon the
execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or
thereafter authenticated and delivered hereunder and of any coupon appertaining thereto shall be bound thereby. 
 ARTICLE X

 SUBSIDIARY GUARANTEES 
 Section 10.1. Subsidiary Guarantees. 
 (a) Subject to the
provisions of this Article X, each Subsidiary Guarantor, jointly and severally, hereby irrevocably and unconditionally guarantees to each Holder of Securities and to the Trustee for itself and on behalf of the Holders (i) the due
and punctual payment of principal of, premium, if any, interest and Additional Interest, if any, in full on each Security when and as the same shall become due and payable whether at Stated Maturity, by declaration of acceleration or otherwise,
(ii) the due and punctual payment of interest on the overdue principal of, premium, if any, interest and Additional Interest, if any, in full on the Securities, to the extent permitted by law, and (iii) the due and punctual performance of
all other Obligations of the Company and the other Subsidiary Guarantors to the Holders or the Trustee, including without limitation the payment of fees, expenses, indemnification or other amounts, all in accordance with the terms of the Securities
and this Indenture. In case of the failure of the Company punctually to make any such principal or interest payment or the failure of the Company or any other Subsidiary Guarantor to perform any such other Obligation, each Subsidiary Guarantor
hereby agrees to cause any such payment to be made punctually when and as the same shall become due and payable, whether at Stated Maturity, by declaration of acceleration or otherwise, and as if such payment were made by the Company and to perform
any such other Obligation of the Company immediately. Each Subsidiary Guarantor hereby further agrees to pay any and all expenses (including reasonable counsel fees and expenses) incurred by the Trustee or the Holders in enforcing any rights under
these Subsidiary Guarantees. The Subsidiary Guarantees under this Article X are guarantees of payment and not of collection. 
 (b) Each of the Company and the Subsidiary Guarantors hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of merger, insolvency or bankruptcy of the Company
or any other Subsidiary Guarantor, any right to require a proceeding first against the Company or any other Subsidiary Guarantor, protest or notice with respect to the Securities or the indebtedness evidenced thereby and all demands whatsoever, and
covenants that these Subsidiary Guarantees will not be discharged except by complete performance of the Obligations contained in the Securities and in this Indenture, or as otherwise specifically provided therein and herein. 
  

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 (c) Each Subsidiary Guarantor hereby waives and relinquishes: 
 (i) any right to require the Trustee, the Holders or the Company (each, a “Benefited Party”) to proceed
against the Company, the Subsidiaries of the Company or any other Person or to proceed against or exhaust any security held by a Benefited Party at any time or to pursue any other remedy in any secured party’s power before proceeding against
the Subsidiary Guarantors; 
 (ii) any defense that may arise by reason of the incapacity, lack of authority,
death or disability of any other Person or Persons or the failure of a Benefited Party to file or enforce a claim against the estate (in administration, bankruptcy or any other proceeding) of any other Person or Persons; 
 (iii) demand, protest and notice of any kind (except as expressly required by this Indenture), including but not limited to
notice of the existence, creation or incurring of any new or additional indebtedness or obligation or of any action or non-action on the part of the Subsidiary Guarantors, the Company, the Subsidiaries of the Company, any Benefited Party, any
creditor of the Subsidiary Guarantors, the Company or the Subsidiaries of the Company or on the part of any other Person whomsoever in connection with any obligations the performance of which are hereby guaranteed; 
 (iv) any defense based upon an election of remedies by a Benefited Party, including but not limited to an election to proceed
against the Subsidiary Guarantors for reimbursement; 
 (v) any defense based upon any statute or rule of law
which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal; 
 (vi) any defense arising because of a Benefited Party’s election, in any proceeding instituted under the Bankruptcy Law, of the application of Section 1111(b)(2) of the Bankruptcy Law; and

 (vii) any defense based on any borrowing or grant of a security interest under Section 364 of the
Bankruptcy Law. 
 (d) Each Subsidiary Guarantor further agrees that, as between such Subsidiary Guarantor, on
the one hand, and Holders and the Trustee, on the other hand, (i) for purposes of the relevant Subsidiary Guarantee, the maturity of the Obligations guaranteed by such Subsidiary Guarantee may be accelerated as provided in
Article VI herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Obligations guaranteed thereby, and (ii) in the event of any acceleration of such Obligations (whether or
not due and payable) such Obligations shall forthwith become due and payable by such Subsidiary Guarantor for purposes of such Subsidiary Guarantee. 
  

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 (e) The Subsidiary Guarantees shall continue to be effective or shall be
reinstated, as the case may be, if at any time any payment, or any part thereof, of principal of, premium, if any, interest or Additional Interest, if any, on any of the Securities is rescinded or must otherwise be returned by the Holders or the
Trustee upon the insolvency, bankruptcy or reorganization of the Company or any of the Subsidiary Guarantors, all as though such payment had not been made. 
 (f) Each Subsidiary Guarantor shall be subrogated to all rights of the Holders against the Company in respect of any amounts paid by such Subsidiary Guarantor pursuant to the provisions of the Subsidiary
Guarantees or this Indenture; provided, however, that a Subsidiary Guarantor shall not be entitled to enforce or to receive any payments until the principal of, premium, if any, interest and Additional Interest, if any, on all
Securities issued hereunder shall have been paid in full. 
 Section 10.2. Obligations of Subsidiary Guarantors
Unconditional. Each Subsidiary Guarantor hereby agrees that its Obligations hereunder shall be Subsidiary Guarantees of payment and shall be unconditional, irrespective of and unaffected by the validity, regularity or enforceability of the
Securities or this Indenture, or of any amendment thereto or hereto, the absence of any action to enforce the same, the waiver or consent by any Holder or by the Trustee with respect to any provisions thereof or of this Indenture, the entry of any
judgment against the Company or any other Subsidiary Guarantor or any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a Subsidiary Guarantor. 
 Section 10.3. Limitation on Subsidiary Guarantors’ Liability. Each Subsidiary Guarantor and by its acceptance hereof each Holder,
hereby confirms that it is the intention of all such parties that the Subsidiary Guarantee by such Subsidiary Guarantor pursuant to its Subsidiary Guarantee not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Law, the
Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law. To effectuate the foregoing intention, the Holders and such Subsidiary Guarantor hereby irrevocably agree that the Obligations of such
Subsidiary Guarantor under this Article X shall be limited to the maximum amount as will, after giving effect to all other contingent and fixed liabilities of such Subsidiary Guarantor and after giving effect to any collections from or
payments made by or on behalf of any other Subsidiary Guarantor in respect of the Obligations of such other Subsidiary Guarantor under this Article X, result in the Obligations of such Subsidiary Guarantor under its Subsidiary Guarantee
not constituting a fraudulent transfer or conveyance under applicable federal or state law. 
 Section 10.4. Releases of
Subsidiary Guarantees. 
 A Subsidiary Guarantee of a Subsidiary Guarantor will be automatically and unconditionally released
(and thereupon shall terminate and be discharged and be of no further force and effect): 
 (1) in connection
with any sale or other disposition (including by merger or otherwise) of the Capital Stock of the Subsidiary Guarantor after which such Subsidiary Guarantor is no longer a Subsidiary of the Company to a Person that is not (either before or after
giving effect to such transaction) an Affiliate of the Company , if the sale of all such Capital Stock of that Subsidiary Guarantor complies with the applicable provisions of the Indenture; 
  

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 (2) if the Company properly designates the Subsidiary Guarantor as an
Unrestricted Subsidiary under this Indenture; 
 (3) solely in the case of a Subsidiary Guarantee created
pursuant to the covenant described under Section 3.17 upon the release or discharge of the Guarantee that resulted in the creation of such Subsidiary Guarantee pursuant to that covenant, except a discharge or release by or as a result of
payment under such guarantee; 
 (4) upon a Legal Defeasance or satisfaction and discharge of the Indenture that
complies with the provisions under Section 8.1 or Section 8.6; or 
 (5) upon payment in full of the
aggregate principal amount of all Securities then outstanding and all other financial obligations under the Indenture and the Securities then due and owing. 
 Upon any occurrence giving rise to a release of a Subsidiary Guarantee as specified above, the Trustee will execute any documents reasonably required in order to evidence or effect such release, discharge
and termination in respect of such Subsidiary Guarantee. Neither the Company nor any Subsidiary Guarantor will be required to make a notation on the Notes to reflect any such Subsidiary Guarantee or any such release, termination or discharge.

 Section 10.5. Application of Certain Terms and Provisions to Subsidiary Guarantors. 
 (a) For purposes of any provision of this Indenture which provides for the delivery by any Subsidiary Guarantor of an
Officers’ Certificate or an Opinion of Counsel or both, the definitions of such terms in Section 1.1 shall apply to such Subsidiary Guarantor as if references therein to the Company were references to such Subsidiary Guarantor.

 (b) Any request, direction, order or demand which by any provision of this Indenture is to be made by any
Subsidiary Guarantor shall be sufficient if evidenced by a Company Order; provided that the definition of such term in Section 1.1 herein shall apply to such Subsidiary Guarantor as if references therein to the Company were
references to such Subsidiary Guarantor. 
 (c) Any notice or demand which by any provision of this Indenture is
required or permitted to be given or served by the Trustee or by the Holders of Securities to or on any Subsidiary Guarantor may be given or served as described in Section 11.2 herein. 
 (d) Upon any demand, request or application by any Subsidiary Guarantor to the Trustee to take any action under this
Indenture, such Subsidiary Guarantor shall furnish to the Trustee such certificates and opinions as are required in Section 7.2 herein as if all references therein to the Company were references to such Subsidiary Guarantor. 

 

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 ARTICLE XI 
 MISCELLANEOUS 
 Section 11.1. Trust Indenture Act Controls. If any provision
of this Indenture limits, qualifies or conflicts with another provision which is required to be included in this Indenture by the TIA, the provision required by the TIA shall control. Each Subsidiary Guarantor in addition to performing its
obligations under its Subsidiary Guarantee shall perform such other obligations as may be imposed upon it with respect to this Indenture under the TIA. 
 Section 11.2. Notices. Any notice or communication shall be in writing, in the English language and delivered in person or mailed by first-class mail or transmitted by facsimile (with written
confirmation of receipt) addressed as follows: 
 if to the Company: 
 Navistar International Corporation 
 4201 Winfield Road 
 Warrenville, Illinois 60555 
 Attention: Vice President and Treasurer 
 Facsimile: (630) 753-2305 
 if to the Trustee: 
 The Bank of New York Mellon Trust Company, N.A. 
 2 North LaSalle Street, Suite 1020 
 Chicago, Illinois 60602 
 Attention: Corporate Trust Administration 
 Facsimile: (312) 827-8542 
 The Company or the Trustee by notice to the other
may designate additional or different addresses for subsequent notices or communications. 
 Where this Indenture provides for
notice to Securityholders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Securityholder affected by such event, at his address as it
appears in the Security Register, not later than the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice. 
 In any case where notice to Securityholders is given by mail, neither the failure to mail a notice or communication to a Securityholder nor any defect in any notice so mailed shall affect its sufficiency
with respect to other Securityholders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. If by reason of the suspension of regular mail service or by reason of any other
cause it shall be impracticable to give such notice as provided above, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 
  

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 Section 11.3. Communication by Holders with other Holders. Securityholders may
communicate pursuant to TIA §3l2(b) with other Securityholders with respect to their rights under this Indenture or the Securities. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA §312(c).

 Section 11.4. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company to the
Trustee to take or refrain from taking any action under this Indenture, the Company shall furnish to the Trustee: 
 (a) an Officers’ 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 except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any
provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 
 Section 11.5. 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;

 (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 complied with.

 In giving such Opinion of Counsel, counsel may rely as to factual matters on an Officers’ Certificate or on certificates of public
officials. 
 Section 11.6. When Securities Disregarded. In determining whether the Holders of the required principal
amount of Securities have concurred in any direction, waiver or consent, Securities owned by the Company or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company 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 Securities which a Responsible Officer of the Trustee actually
knows are so owned shall be so disregarded. Also, subject to the foregoing, only Securities Outstanding at the time shall be considered in any such determination. 
  

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 Section 11.7. Rules by Trustee, Paying Agent and Registrar. The Trustee may make
reasonable rules for action by, or a meeting of, Securityholders. The Registrar and the Paying Agent may make reasonable rules for their functions. 
 Section 11.8. Legal Holidays. In any case where any interest payment date, Redemption Date, Stated Maturity or Maturity of any Security shall not be a Business Day (each, a “Legal
Holiday”), then (notwithstanding any other provision of this Indenture or of any Security) payment of principal, premium, if any, interest, if any, or Additional Interest, if any, need not be made on such date, but may be made on the next
succeeding Business Day with the same force and effect as if made on such date; provided that no interest shall accrue on the amount so payable for the period from and after such interest payment date, Redemption Date, Stated Maturity or
Maturity, as the case may be, if the payment is made on the next succeeding Business Day. 
 Section 11.9. GOVERNING LAW.
THIS INDENTURE, THE SECURITIES AND THE SUBSIDIARY GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK. THE COMPANY AND EACH SUBSIDIARY GUARANTOR AGREES TO SUBMIT TO THE JURISDICTION OF THE
COURTS OF THE STATE OF NEW YORK, COUNTY OF NEW YORK, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES AND THE SUBSIDIARY GUARANTEE. 
 Section 11.10. No Recourse Against Others. An incorporator, director, officer, employee, stockholder or controlling person, as such, of
each of the Company or any Subsidiary Guarantors shall not have any liability for any obligations of the Company under the Securities, this Indenture or the Subsidiary Guarantees or for any claim based on, in respect of or by reason of such
obligations or their creation. By accepting a Security, each Securityholder shall waive and release all such liability. The waiver and release shall be part of the consideration for the issue of the Securities. 
 Section 11.11. Successors. All agreements of the Company and the Subsidiary Guarantors in this Indenture and the Securities shall bind
their respective successors. All agreements of the Trustee in this Indenture shall bind its successors. 
 Section 11.12.
Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. 
 Section 11.13. Variable Provisions. The Company initially appoints the Trustee as U.S. Paying Agent and Registrar with respect to any
Global Securities. 
 Section 11.14. Qualification of Indenture. The Company shall qualify this Indenture under the TIA and
shall pay all reasonable costs and expenses (including attorneys’ fees and expenses for the Company, the Trustee and the Holders) incurred in connection therewith, including, but not limited to, costs and expenses of qualification of this
Indenture and the Securities and printing this Indenture and the

  

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Securities. The Trustee shall be entitled to receive from the Company any such Officers’ Certificates, Opinions of Counsel or other documentation as it may reasonably request in connection
with any such qualification of this Indenture under the TIA. 
 Section 11.15. Table of Contents; Headings. The table of
contents, cross-reference sheet and headings of the Articles and Sections of this Indenture 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. Separability. In case any provision of this Indenture or the Securities shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 11.17. Benefits of Indenture. Nothing in this Indenture or in the Securities, expressed or implied, shall give to any Person, other than the parties hereto and their successors hereunder and
the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
 Section 11.18. Waiver of
Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE
TRANSACTION CONTEMPLATED HEREBY. 
 Section 11.19. 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. 
 * * * * 
  

 99 

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

			
	 ISSUER:

	
	NAVISTAR INTERNATIONAL CORPORATION
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 TRUSTEE:

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

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	GUARANTOR:
	
	NAVISTAR, INC.
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

 100 

 EXHIBIT A 
 [Face of Security] 
 FORM OF SECURITY 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY (AS DEFINED IN
THE INDENTURE) OR A NOMINEE THEREOF. THIS GLOBAL SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR ITS NOMINEE ONLY IN LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT
IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER
NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  

 101 

 CUSIP 
 ISIN 
 NAVISTAR INTERNATIONAL CORPORATION 
     % Senior Note due 2021 
 No. 1$             
 NAVISTAR
INTERNATIONAL CORPORATION, a Delaware corporation (the “Company,” which term includes any successor under the Indenture hereinafter referred to), for value received, promises to pay Cede & Co., or its registered assigns,
the principal sum indicated on the Schedule of Increases or Decreases in Security attached hereto, on November 1, 2012. This is a Global Security under the Indenture hereinafter referred to. 
 Interest Payment Dates: May 1 and November 1, commencing May 1, 2010. 
 Regular Record Dates: April 15 and October 15. 
 Reference is hereby made to the further
provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
  

 102 

 IN WITNESS WHEREOF, the Company has caused this Security to be executed manually or by
facsimile by its duly authorized officers. 
  

							
	Dated:                     , 2009	 		 	NAVISTAR INTERNATIONAL CORPORATION
				
		 		 	By:	 	 
		 		 	Name:	 	
		 		 	Title:	 	

 Certificate of Authentication: 
 This is one of the Securities described in the within-mentioned Indenture. 
  

							
	Dated:                     , 2009	 		 	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
 as Trustee

				
		 		 	By:	 	 
		 		 	Name:	 	
		 		 	Title:	 	

  

 103 

 [REVERSE SIDE OF SECURITY] 
 NAVISTAR INTERNATIONAL CORPORATION 
     % Senior Note due 2021 
 Capitalized terms used herein but not defined shall have the meanings assigned
to them in the Indenture referred to below unless otherwise indicated. 
  

	1.	Principal and Interest. 

 Navistar
International Corporation, a Delaware corporation (such corporation and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Company”), promises to pay interest on the principal amount of
this Security at a rate of     % per annum from the date of issuance until repayment at maturity or redemption. The Company will pay interest semiannually on May 1 and November 1 of each year (each, an
“Interest Payment Date”), commencing May 1, 2010. Interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Issue Date. Interest will be computed
on the basis of a 360-day year of twelve 30-day months. 
 The Company shall pay interest (including Additional Interest and post-petition
interest in any proceeding under any Bankruptcy Law) on overdue principal, premium, if any, and Additional Interest, if any, from time to time on demand, to the extent permitted by law, at the rate borne by this Security; it shall pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent permitted by law.

  

	2.	Method of Payment. 

 The Company will pay
interest on the principal amount of the Securities as provided above on each Interest Payment Date, commencing May 1, 2010, to the persons which are Holders (as reflected in the Register at the close of business on the April 15 or
October 15 immediately preceding the Interest Payment Date), in each case, even if the Securities are canceled on registration of transfer or registration of exchange after such record date; provided that, with respect to the payment of
principal, the Company will make payment to the Holder that surrenders this Security to a Paying Agent on or after November 1, 2021. 
 The
Company will pay principal, premium, if any, interest and Additional Interest, if any, in U.S. Dollars. If a payment date is a date other than a Business Day at a place of payment, payment may be made at that place on the next succeeding day that is
a Business Day and no interest shall accrue for the intervening period. 
 Principal of, and premium, if any, interest and Additional Interest,
if any, on, Definitive Securities will be payable, and Definitive Securities may be presented for registration of transfer or exchange, at the office or agency of the Company maintained for such purpose. Principal of, and premium, if any, interest
and Additional Interest, if any, on, Global Securities will be payable by the Company through the Trustee to the Book-Entry Depositary in immediately available funds. Holders of Definitive Securities will be entitled to receive interest payments by

  

 104 

 
wire transfer in immediately available funds if appropriate wire transfer instructions have been received in writing by the Trustee not less than 15 days prior to the applicable Interest Payment
Date. Such wire instructions, upon receipt by the Trustee, shall remain in effect until revoked by such Holder. If wire instructions have not been received by the Trustee with respect to any Holder of a Definitive Security, payment of interest may
be made by check in immediately available funds mailed to such Holder at the address set forth upon the Register maintained by the Registrar. 
  

	3.	Paying Agent and Registrar. 

 Initially,
The Bank of New York Mellon Trust Company, N.A., the Trustee under the Indenture, will act as Trustee, Paying Agent and Registrar. The Company may appoint and change the Paying Agent or transfer agent without notice to any Holder; provided
that it will at all times maintain a Paying Agent in The City of New York. The Company or any wholly owned Subsidiary may act as a Paying Agent, Registrar, co-registrar or transfer agent, subject to certain limitations. 
  

	4.	Indenture. 

 The Company issued the
Initial Securities under an Indenture, dated as of                     , 2009 (the “Indenture”), among the Company, Navistar,
Inc. (the “Guarantor”) and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”). The terms of the Initial Securities include those stated in the Indenture and those made part of the Indenture
by reference to the Trust Indenture Act of 1939, as amended (“TIA”). The Initial Securities are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of all such terms. To the extent
permitted by applicable law, in the event of any inconsistency between the terms of this Security and the terms of the Indenture, the terms of the Indenture shall control. 
  

	5.	Subsidiary Guarantees. 

 The Securities
are guaranteed by the Guarantor, subject to the release of such guarantees under certain circumstances, as provided in the Indenture. The Securities may after the date hereof be entitled to certain additional Subsidiary Guarantees made for the
benefit of the Holders. 
  

	6.	Optional Redemption. 

 At any time prior
to November 1, 2012, the Company may redeem up to 35% of the aggregate principal amount of the Securities issued under the Indenture (including any Additional Notes) at a redemption price of     % of the principal
amount thereof, plus accrued and unpaid interest and Additional Interest, if any, thereon to the redemption date, subject to the rights of Holders of the Securities on the relevant record date to receive interest due on the relevant interest payment
date, with the net cash proceeds of one or more Public Equity Offerings; provided that: 
  

	 	(1)	at least 65% of the aggregate principal amount of Securities issued under the Indenture (including any Additional Notes) remains outstanding immediately after the
occurrence of such redemption (excluding Securities held by the Company or its Affiliates); and 

  

 105 

	 	(2)	the redemption must occur within 60 days of the date of the closing of such Public Equity Offering. 

 On or after November 1, 2014, the Company may redeem all or a part of the Securities, at the redemption prices (expressed as
percentages of principal amount) set forth below, plus accrued and unpaid interest and Additional Interest, if any, thereon, to the applicable redemption date, subject to the rights of Holders of Securities on the relevant record date to receive
interest due on the relevant interest payment date, if redeemed during the twelve-month period beginning on November 1 of the years indicated below: 
  

				
	 Year
	  	Percentage	 
	 2014
	  	    	% 
	 2015
	  	    	% 
	 2016
	  	    	% 
	 2017 and thereafter
	  	100.000	% 

 Not more than once during each twelve-month period ending on November 1 of 2010, 2011, 2012,
2013 and 2014, the Company may redeem up to $100 million in principal amount of the Securities in each such twelve-month period, upon not less than 30 nor more than 60 days’ notice, at a redemption price equal to 103% of the principal amount of
the Securities redeemed, plus accrued and unpaid interest, if any, to the date of redemption (subject to the rights of Holders of the Securities on the relevant record date to receive interest on the relevant Interest Payment Date). 
 In addition, at any time prior to November 1, 2014, the Company may redeem the Securities, in whole or in part, at a Redemption Price equal to 100% of
the principal amount thereof plus the Applicable Premium, plus accrued and unpaid interest, if any, to 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). 
 In the case of any partial redemption, selection of the Securities for redemption will be made by the Trustee in compliance
with the requirements of the principal national securities exchange, if any, on which the Securities are listed or, if the Securities are not so listed, then on a pro rata basis, by lot or by such other method as the Trustee shall deem to be fair
and appropriate (and in such manner as complies with applicable legal requirements) provided that (i) Securities and portions thereof that the Trustee selects shall be in amounts of $2,000 or an integral multiple of $1,000 in excess
thereof and (ii) no such partial redemption shall reduce the portion of the principal amount of a Security not redeemed to less than $2,000. If any Security is to be redeemed in part only, the notice of redemption relating to such Security
shall state the portion of the principal amount thereof to be redeemed. A new Security in principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original Security. On and
after the Redemption Date, interest will cease to accrue on Securities or portions thereof called for redemption as long as the Company has deposited with the Trustee or with a Paying Agent (or, if applicable, segregated and held in trust) money
sufficient to pay the Redemption Price of, and accrued interest on, all the Securities which are to be redeemed on such date. 
  

 106 

	7.	Mandatory Redemption. 

 The Company is not
required to make any mandatory redemption or sinking fund payments with respect to the Securities. However, under certain circumstances, the Company may be required to offer to purchase the Securities as described under Section 3.13 and
Section 5.9 of this Indenture. The Company and its Restricted Subsidiaries may at any time and from time to time purchase the Securities in the open market or otherwise. 
  

	8.	Repurchase at Option of Holder. 

 If a
Change of Control occurs, each Holder shall have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Securities pursuant to the Change of Control
offer on the terms set forth in the Indenture (a “Change of Control Offer”). In the Change of Control Offer, the Company shall offer a Change of Control Payment in cash equal to 101% of the aggregate principal amount of Securities
repurchased plus accrued and unpaid interest and liquidated damages, if any, on the Securities repurchased to the date of purchase. Within 30 days following any Change of Control, the Company shall mail a notice to each Holder as set forth in the
Indenture. 
 In the event of certain Asset Dispositions and subject to certain limitations set forth in the Indenture, the Company shall make
an Offer to Purchase the outstanding applicable issue of Securities at a purchase price in cash equal to 100% of their principal amount plus any accrued and unpaid interest thereon to the Purchase Date. 
  

	9.	Denominations; Transfer; Exchange. 

 The
Securities are in registered form without coupons in denominations of $2,000 of principal amount and integral multiples of $1,000 in excess thereof. A Holder may register the transfer or exchange of Securities in accordance with the Indenture. The
Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not
register the transfer or exchange of any Securities selected for redemption. Also, it need not register the transfer or exchange of any Securities for a period beginning at the opening of 15 calendar days before the day of any selection of
Securities for redemption under Section 7 hereof and ending at the close of business on the day of selection. 
  

	10.	Persons Deemed Owners. 

 The registered
Holder of a Security shall be treated as its owner for all purposes. 
  

	11.	Unclaimed Money. 

 If money for the
payment of principal, premium, if any, interest or Additional Interest, if any, remains unclaimed for two years, the Trustee and the Paying Agent will pay the money back to the Company at its request. After that, Holders entitled to the money must
look to the Company for payment, unless an abandoned property law designates another Person, and all liability of the Trustee and such Paying Agent with respect to such money shall cease. 
  

 107 

	12.	Discharge Prior to Redemption or Maturity. 

 Subject to certain conditions contained in the Indenture, at any time some or all of the obligations under the Securities, the Subsidiary Guarantees and the Indenture may be terminated if the Company deposits with the Trustee money and/or
Government Obligations sufficient to pay the principal of, and premium, if any, interest and Additional Interest, if any, on, the Securities to redemption or stated maturity, as the case may be. 
  

	13.	Amendment; Supplement; Waiver. 

 Subject
to certain exceptions as set forth in the Indenture, with the written consent of the Holders of a majority of the aggregate principal amount of the Outstanding Securities adversely affected by such supplemental indenture, the Company, when
authorized by or pursuant to a Board Resolution, and the Trustee may enter into an indenture or supplemental indentures to add any provisions to or to change or eliminate any provisions of the Indenture or of any other supplemental indenture or to
modify the rights of the Holders of such Securities. Without the consent of any Holders, the Company, when authorized by or pursuant to a Board Resolution and the Trustee at any time and from time to time, may enter into supplemental indentures, in
form reasonably satisfactory to the Trustee, to, among other things, cure any ambiguity, omission, defect or inconsistency and make any change that does not materially and adversely affect the rights of any Holder. The Holders of a majority in
aggregate principal amount of Outstanding Securities by written notice to the Trustee may waive on behalf of the Holders of all Securities a past Default or Event of Default and its consequences except (i) a Default or Event of Default in the
payment of the principal of, or premium, if any, interest, if any, or Additional Interest, if any, on any Security or (ii) an Event of Default resulting from the breach of a covenant or provision hereof which pursuant to the Indenture cannot be
amended or modified without the consent of the Holder of each Outstanding Security adversely affected. 
  

	14.	Restrictive Covenants. 

 The Indenture
imposes certain limitations on the ability of the Company and its Restricted Subsidiaries, among other things, to create Liens, incur Indebtedness, make Restricted Payments and make Asset Dispositions. In addition, the Indenture imposes certain
limitations on the ability of the Company to engage in mergers and consolidations or transfers of all or substantially all of its assets. The Indenture requires the Company to deliver to the Trustee, within 120 days after the end of each fiscal year
of the Company (beginning with the fiscal year next following the Issue Date), a certificate from an executive officer, as to his or her knowledge of the Company’s compliance with all conditions and covenants under the Indenture. 
 Following the first day that (1) the Securities have been assigned an Investment Grade rating by both Rating Agencies; and (2) no Default under
the Indenture has occurred and is continuing, the Company and its Restricted Subsidiaries will not be subject to certain covenants. In the event that the Company and its Restricted Subsidiaries are not subject to certain covenants for any period of
time as a result of the foregoing and on any subsequent date one or both of the Rating Agencies withdraws its Investment Grade Rating or downgrades the rating assigned to the Securities below an Investment Grade Rating, then the Company and its
Restricted Subsidiaries will thereafter again be subject to such covenants with respect to future events. 
  

 108 

	15.	Defaults and Remedies. 

 The Indenture
provides that each of the following events constitutes an Event of Default with respect to this Security: (i) default in the payment of principal of, or premium, if any, on any Securities when due at maturity, upon repurchase, upon acceleration
or otherwise, including, without limitation, failure of the Company to repurchase any Security on the date required following a Change of Control; (ii) default in the payment of any installment of interest or Additional Interest, if any, on any
Security when due and continuance of such Default for 30 days or more; (iii) failure to observe, perform or comply with any of the provisions of the covenant imposing certain limitations on the ability of the Company to engage in mergers and
consolidations or transfers of all or substantially all of its assets; (iv) default (other than a default set forth in clauses (i), (ii) and (iii) above) in the performance of, or breach of, any other covenant or warranty of the
Company or of any Restricted Subsidiary in the Indenture, or in the Securities and failure to remedy such default or breach within a period of 30 days after written notice from the Trustee or the Holders of at least 25% in aggregate principal amount
of the then outstanding Securities; (v) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any Subsidiary of
the Company (other than a Securitization Subsidiary) (or the payment of which is guaranteed by the Company or any Restricted Subsidiary of the Company), which default is caused by a failure to pay principal of or premium, if any, on such
Indebtedness upon its stated maturity or which default results in the acceleration of such Indebtedness prior to its express maturity and the principal amount of any such Indebtedness, together with the principal amount of any other such
Indebtedness the maturity of which has been so accelerated, aggregates $50.0 million or more and such acceleration has not been rescinded or annulled or such Indebtedness discharged in full within 30 days; (vi) the entry by a court of competent
jurisdiction of one or more judgments, orders or decrees against the Company or any Subsidiary of the Company (other than a Securitization Subsidiary) or any of their respective property or assets in an aggregate amount in excess of $50.0 million,
which judgments, orders or decrees have not been vacated, discharged, satisfied or stayed pending appeal within 30 days from the entry thereof and with respect to which legal enforcement proceedings have been commenced; or (vii) certain events
of bankruptcy, insolvency or reorganization involving the Company, any Subsidiary Guarantor or any Significant Subsidiary of the Company. 
 If
an Event of Default occurs and is continuing, the principal amount hereof may be declared due and payable in the manner and with the effect provided in the Indenture. Upon such a declaration, such principal amount, premium, if any, accrued and
unpaid interest and Additional Interest, if any, will become immediately due and payable. 
 If an Event of Default described in
clause (vii) above occurs, all unpaid principal of, premium, if any, accrued and unpaid interest and Additional Interest, if any, on the Securities then outstanding will ipso facto become due and payable. 
  

	16.	Trustee Dealings with the Company. 

 Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in its individual or any other capacity, may make loans to, accept deposits from and perform services for the Company or its Affiliates and may
otherwise deal with the Company or its Affiliates as if it were not the Trustee. 
  

 109 

	17.	No Recourse Against Others. 

 An
incorporator, director, officer, employee, stockholder or controlling person, as such, of each of the Company or any Subsidiary Guarantors shall not have any liability for any obligations of the Company under the Securities, the Indenture or the
Subsidiary Guarantees or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Securityholder shall waive and release all such liability. The waiver and release shall be part of the
consideration for the issue of the Securities. 
  

	18.	Authentication. 

 This Security shall not
be valid until the Trustee (or authenticating agent) executes the certificate of authentication on the other side of this Security. 
  

	19.	Abbreviations. 

 Customary abbreviations
may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A
(= Uniform Gifts to Minors Act). 
  

	20.	CUSIP Numbers. 

 Pursuant to a
recommendation promulgated by the Committee on Uniform Security Identification Procedures the Company has caused CUSIP numbers to be printed on the Securities and has directed the Trustee to use CUSIP numbers in notices of redemption as a
convenience to Securityholders. No representation is made as to the accuracy of such numbers either as printed on the Securities or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed
thereon. 
  

	21.	GOVERNING LAW. 

 THIS SECURITY SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK. THE COMPANY AND EACH SUBSIDIARY GUARANTOR AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK, COUNTY OF NEW YORK IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS SECURITY. 
  

	22.	Successor Corporation. 

 In the event a
successor corporation assumes all the obligations of the Company under the Securities and the Indenture, pursuant to the terms thereof, the Company will be released from all such obligations. 
  

 110 

 The Company will furnish to any Holder upon written request and without charge to the Holder a copy of the
Indenture which has in it the text of this Security. Requests may be made to: 
 Navistar International
Corporation 
 4201 Winfield Road 
 Warrenville, Illinois 60555 
 Attn: Vice President and Treasurer 
  

 111 

 NOTATION OF GUARANTEE 
 For value received, the Guarantor (which term includes any successor Person under the Indenture) has unconditionally guaranteed, to the
extent set forth in the Indenture and subject to the provisions in the Indenture, dated as of                     , 2009 (the
“Indenture”), among Navistar International Corporation, the Guarantor party thereto and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), (i) the due and punctual payment of the
principal of, premium, if any, interest and Additional Interest, if any, in full on the Securities (as defined in the Indenture), when and as the same shall become due and payable whether at Stated Maturity, by declaration of acceleration or
otherwise, (ii) the due and punctual payment of interest on overdue principal of, premium, if any, interest and Additional Interest, if any, in full on the Securities, to the extent permitted by law, and (iii) the due and punctual
performance of all other Obligations of the Company and the Guarantor to the Holders or the Trustee, including, without limitation, the payment of fees, expenses, indemnification or other amounts, all in accordance with the terms of the Securities
and the Indenture. In case of the failure of the Company to punctually to make any such principal or interest payment or the failure of the Company to perform any such other Obligation, the Guarantor hereby agrees to cause any such payment to be
made punctually when and as the same shall become due and payable, whether at Stated Maturity, by acceleration or otherwise. The Obligations of the Guarantor to the Holders of Securities and to the Trustee pursuant to the Guarantee and the Indenture
are expressly set forth in Article X of the Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. The obligations of the Guarantor will be released only in accordance with the provisions of
Article X of the Indenture. 
  

			
	NAVISTAR, INC.
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

 112 

 ASSIGNMENT FORM 
 To assign this Security, fill in the form below and have your signature guaranteed: (I) or (we) assign and transfer this Security to: 
 (Insert assignee’s soc. sec. or tax I.D. no.) 
 (Print or
type assignee’s name, address and zip code) 
 and irrevocably appoint to transfer this Security on the books of the Company. The agent may
substitute another to act for him. 
 Dated:
                             
 Your Name:
                                         
            
 (Print your name exactly as it appears on the face of this Security)

 Your Signature:
                                        

 (Sign your name exactly as it appears on the face of this Security) 
 Signature 
 Guarantee*:
                                        

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  

 113 

 OPTION OF HOLDER TO ELECT PURCHASE 
 If you want to elect to have this Security purchased by the Company pursuant to Section 3.13 or Section 5.9 of the
Indenture, please check the appropriate box: 
  ̈ Section 3.13   ̈ Section 5.9 
 If you want to elect to have only part of the Security purchased by the Company
pursuant to Section 3.13 or Section 5.9 of the Indenture, state the amount you elect to have purchased: 
 $             
 Date:
                                        
     
 Your Signature:
                                        

 (Sign exactly as your name appears on the face of this Note) 
 Tax Identification No.:
                                        

 Signature 
 Guarantee*:
                                        

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  

 114 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY 
 The initial principal amount of this Global Security is $1,000,000,000. The following increases or decreases in this Global Security have
been made: 
  

									
	 Date of Exchange
	  	 Amount of decrease
 in
 Principal Amount of
 this Global Security
	  	 Amount of
 increases
 in
 Principal Amount
 of
 this Global
 Security
	  	 Principal Amount of
 this Global Security
 following such
 decrease (or
 increase)
	  	 Signature of
 authorized officer
 of

 Trustee or
 Depositary

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

 115

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