Document:

Second Amended and Restated Limited LIability Company Operating Agreement

 Exhibit 10.17 
  

 SECOND AMENDED AND RESTATED 
 LIMITED LIABILITY COMPANY 
 OPERATING AGREEMENT 
 OF 
 TRIMARAN POLLO PARTNERS, L.L.C.

 DATED AS OF MARCH 8, 2006 
  

 TABLE OF CONTENTS 
  

					
	ARTICLE I
	
	DEFINED TERMS
			
	 Section 1.01
	  	Certain Definitions	  	2
	 Section 1.02
	  	Other Interpretive Provisions	  	9
	
	ARTICLE II
	
	ORGANIZATION
			
	 Section 2.01
	  	Formation of the Company	  	10
	 Section 2.02
	  	Office of the Company	  	10
	 Section 2.03
	  	Registered Office and Registered Agent	  	10
	 Section 2.04
	  	Purposes of the Company; Investments	  	10
	 Section 2.05
	  	Term of the Company	  	11
	
	ARTICLE III
	
	MANAGEMENT OF THE COMPANY; CAC BOARD
			
	 Section 3.01
	  	Management Generally	  	11
	 Section 3.02
	  	Managing Member	  	11
	 Section 3.03
	  	Officers	  	11
	 Section 3.04
	  	CAC Board	  	12
	 Section 3.05
	  	Meetings of Members	  	14
	 Section 3.06
	  	Member Transactions	  	14
	 Section 3.07
	  	Other	  	14
	
	ARTICLE IV
	
	CAPITAL CONTRIBUTIONS, MEMBERSHIP UNITS
	AND CAPITAL ACCOUNTS
			
	 Section 4.01
	  	Capital Contributions.	  	15
	 Section 4.02
	  	Additional Capital Contributions	  	15
	 Section 4.03
	  	Additional Members	  	16
	 Section 4.04
	  	Capital Accounts	  	16
	 Section 4.05
	  	Return of Capital	  	16
	 Section 4.06
	  	No Interest on Capital Contribution	  	17

  

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	ARTICLE V
	
	DISTRIBUTIONS
			
	Section 5.01	  	Distributions	  	17
	Section 5.02	  	Limitations on Distribution	  	18
	Section 5.03	  	Offset	  	18
	
	ARTICLE VI
	
	ALLOCATIONS
			
	Section 6.01	  	Allocation of Profits and Losses	  	19
	Section 6.02	  	Withholding	  	20
	
	ARTICLE VII
	
	PREEMPTIVE RIGHTS
			
	Section 7.01	  	Additional Issuances of Equity and Debt Securities of the Company	  	21
	Section 7.02	  	Additional CAC Securities	  	22
	Section 7.03	  	Qualifications to Preemptive Rights	  	23
	
	ARTICLE VIII
	
	TRANSFERS
			
	Section 8.01	  	Transfer Restrictions	  	24
	Section 8.02	  	Right of First Offer	  	25
	Section 8.03	  	Tag-Along Rights	  	26
	Section 8.04	  	Drag-Along Rights	  	27
	Section 8.05	  	Transfers to Affiliates	  	30
	Section 8.06	  	Rights and Obligations of Transferees	  	30
	Section 8.07	  	Registration Rights	  	30
	
	ARTICLE IX
	
	COMPANY EXPENSES, BOOKS AND RECORDS,
	TAX MATTERS
			
	Section 9.01	  	Fees and Expenses	  	32
	Section 9.02	  	Fiscal Year and Method of Accounting	  	32
	Section 9.03	  	Records and Information	  	33
	Section 9.04	  	Financial Statements and Reports	  	33
	Section 9.05	  	U.S. Tax Classification	  	33
	Section 9.06	  	Tax Matters Member	  	34

  

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	ARTICLE X
	
	LIABILITY, INDEMNIFICATION AND CONTRIBUTION
			
	 Section 10.01
	  	Liability of Members	  	34
	 Section 10.02
	  	Indemnification	  	34
	 Section 10.03
	  	Exclusivity	  	35
	 Section 10.04
	  	Fiduciary Duty	  	35
	
	ARTICLE XI
	
	DISSOLUTION, LIQUIDATION AND TERMINATION
			
	 Section 11.01
	  	Dissolution	  	35
	 Section 11.02
	  	Cancellation of Certificate	  	36
	 Section 11.03
	  	Liquidation	  	36
	 Section 11.04
	  	Accounting on Liquidation	  	36
	 Section 11.05
	  	Return of Members’ Capital Contribution	  	36
	 Section 11.06
	  	Termination	  	36
	
	ARTICLE XII
	
	REPRESENTATIONS AND WARRANTIES
			
	 Section 12.01
	  	Member Representations	  	37
	 Section 12.02
	  	Company Representation	  	40
	
	ARTICLE XIII
	
	MISCELLANEOUS PROVISIONS
			
	 Section 13.01
	  	Notices	  	40
	 Section 13.02
	  	Entire Agreement	  	40
	 Section 13.03
	  	Confidentiality	  	40
	 Section 13.04
	  	Amendments	  	41
	 Section 13.05
	  	Governing Law; Jurisdiction	  	41
	 Section 13.06
	  	Severability	  	42
	 Section 13.07
	  	Further Assurances	  	42
	 Section 13.08
	  	Binding Effect	  	42
	 Section 13.09
	  	Waivers	  	42
	 Section 13.10
	  	Conflicts of Interest	  	42
	 Section 13.11
	  	Third Parties	  	42
	 Section 13.12
	  	Counterparts	  	43

  

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 SECOND AMENDED AND RESTATED 
 LIMITED LIABILITY COMPANY 
 OPERATING AGREEMENT 
 OF 
 TRIMARAN POLLO PARTNERS, L.L.C. 
 This Second Amended and Restated Limited Liability Company Operating Agreement (the “Agreement”) of Trimaran Pollo Partners, L.L.C. (the
“Company”) is made, entered into and effective as of March 8, 2006 by and among the parties whose names and addresses are set forth on Schedule A hereto as members, and such other parties that are admitted as members in
accordance with the terms hereof (each a “Member,” and collectively, the “Members”). 
 WITNESSETH:

 WHEREAS, an authorized person has caused to be formed, and the parties hereto desire to continue, the Company as a limited liability
company under the Delaware Limited Liability Company Act, as amended (the “Act”); 
 WHEREAS, the parties entered into a
First Amended and Restated Limited Liability Company Operating Agreement, dated as of November 18, 2005, as amended as of January 4, 2006, to formalize their understandings with respect to (i) the manner in which the Company will be
organized and operated and (ii) their respective ownership interests and related rights and restrictions; and 
 WHEREAS, the parties
desire to further amend and restate the limited liability company operating agreement of the Company, as more fully set forth herein; 
 NOW,
THEREFORE, in consideration of the foregoing and of the mutual promises of the parties hereto, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally
bound, agree as follows: 

 ARTICLE I 
 DEFINED TERMS 
 Section 1.01 Certain Definitions. As used in this Agreement, the
following terms have the following meanings: 
 “Act” has the meaning set forth in the recitals. 
 “Affiliate” means, with respect to any Person, any other Person that directly or indirectly Controls, is Controlled by, or is under
common Control with, such Person. 
 “Agreement” has the meaning set forth in the preamble. 
 “American Securities” means ASP EPL L.L.C. and any successor thereto. 
 “Beneficial Ownership” has the meaning set forth in Rule 13d-3 of the Securities Exchange Act of 1934, as amended. 
 “Book Value” means, with respect to any Company asset, the asset’s adjusted basis for federal income tax purposes, except that the
Book Values of all Company assets shall be adjusted to equal their respective fair market values (as determined by the Managing Member in its good faith judgment), in accordance with the rules set forth in Section 1.704-1(b)(2)(iv)(f) of the
Treasury Regulations. 
 “Breaching Drag-Along Member” has the meaning set forth in Section 8.04(e). 
 “Business Day” means any day other than a Saturday, Sunday or a day on which commercial banks located in New York, New York are required
or authorized by law to be closed. 
 “CAC” means Chicken Acquisition Corp., a Delaware corporation and any successor
thereto. 
 “CAC Board” has the meaning set forth in Section 3.04(a). 
 “Capital Account” has the meaning set forth in Section 4.04(a). 
  

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 “Capital Contribution” means, with respect to any Member, the total amount of cash or
the value of other property contributed to the Company by such Member pursuant to this Agreement; provided that the Managing Member shall determine in its reasonable discretion the value of any property other than cash contributed by any
Member; provided, further, that any Capital Contributions made following the date of this Agreement shall consist solely of cash. It is understood that with respect to securities contributed to the Company by American Securities
pursuant to the Exchange and Contribution Agreement, dated as of November 18, 2005, such securities shall be valued consistently with the value set forth therein. 
 “Certificate of Formation” has the meaning set forth in the recitals. 
 “Closing
Date” means the date hereof. 
 “Code” means the U.S. Internal Revenue Code of 1986, as amended, and the
regulations promulgated thereunder. Any reference to a section of the Code shall include a reference to any successor provision thereto. 
 “Company” has the meaning set forth in the preamble. 
 “Continental Member means the Continental
Casualty Company. 
 “Control” means the possession, direct or indirect, of the power to direct or cause the direction of
the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise, and “Controlled” has a correlative meaning. 
 “Covered Person” means a current or former Member or Director, an Affiliate of a current or former Member or Director, any officer,
director, shareholder, partner, member, employee, representative or agent of a current or former Member or Director or any of their respective Affiliates, or any current or former officer, employee or agent of the Company or any of its Affiliates.

 “De Minimis Interest Amount” means, with respect to any Investor Member, twenty-five percent (25%) of the aggregate
number of Membership Units issued to such Investor Member as of the Closing Date. 
 “Demand Notice” has the meaning set
forth in Section 8.07(c). 
 “Drag-Along Member” has the meaning set forth in Section 8.04(b). 
  

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 “Drag-Along Notice” has the meaning set forth in Section 8.04(b). 
 “Drag-Along Transfer” has the meaning set forth in Section 8.04(a). 
 “Election Notice” has the meaning set forth in Section 7.02(c). 
 “Election Period” has the meaning set forth in Section 7.02(c). 
 “Equity Syndication” means any Transfer or Transfers by the Trimaran Vehicles of a number of Membership Units which the Trimaran
Vehicles received in respect of their initial Capital Contribution, up to $60.0 million in the aggregate, made within six (6) months of the date hereof. 
 “ERISA” means the U.S. Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder. Any reference to a section of ERISA shall include a reference to any
successor provision thereto. 
 “Escrow Agent” has the meaning set forth in Section 8.04(f). 
 “Existing Agreement” has the meaning set forth in the recitals. 
 “Formation Date” means October 19, 2005. 
 “GAAP” means U.S. generally accepted accounting principles in effect from time to time. 
 “Indemnified Person” has the meaning set forth in Section 10.01(a). 
 “Initial Holding
Period” has the meaning set forth in Section 8.01(a). 
 “Investment Company Act” means the U.S. Investment
Company Act of 1940, as amended from time to time. 
 “Investor Member” means the Persons set forth on Schedule C.
“Investor Members” shall exclude Trimaran Vehicles and their Affiliates that are Members hereunder. 
  

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 “IPO” means an initial registered offering of any equity securities of CAC or a
Subsidiary thereof to the public under the Securities Act. 
 “Management and Monitoring Agreement” means the agreement
entered into between Trimaran Fund Management, L.L.C. (and/or its respective Affiliates) and CAC, pursuant to which CAC agrees to pay certain transaction and monitoring fees to Trimaran Fund Management, L.L.C. (or its respective designee).

 “Managing Member” has the meaning set forth in Section 3.02. 
 “Marketable Securities” means securities that are (i) traded on a national securities exchange in the United States,
(ii) reported through an automated inter-dealer quotation system in the United States or (iii) otherwise actively traded over-the-counter in the United States, and, in each ease, are not subject to restrictions on transfer as a result of
applicable contract provisions, the provisions of the Securities Act (or regulations thereunder other than the volume and method-of-sale restrictions applicable to affiliates of an issuer pursuant to Rule 144 promulgated thereunder or any successor
thereto), or other applicable law. 
 “Material Subsidiary” means each of the entities set forth on Schedule D and
any other Subsidiary of the Company following the date hereof with revenues or assets that are in excess of one million dollars ($1,000,000) or are otherwise material to the business of the Company and its Subsidiaries, taken as a whole. 

“Member” has the meaning set forth in the preamble. 
 “Membership Units” means membership interests in the Company. 
 “Net Income and Net
Loss” means, for each fiscal year or other period, the taxable income or loss of the Company, or particular items thereof, determined in accordance with the accounting method used by the Company for federal income tax purposes with the
following adjustments: (a) any income of the Company that is exempt from federal income taxation and not otherwise taken into account in computing Net Income and Net Loss shall be added to such taxable income or loss; (b) if the Book Value
of any asset differs from its adjusted tax basis for federal income tax purposes, any gain or loss resulting from a disposition of such asset shall be calculated with reference to such Book Value; (c) upon an adjustment to the Book Value of any
asset pursuant to the definition of Book Value, the amount of the adjustment shall be included as gain or loss in computing such taxable income or loss; (d) if the Book Value of any asset differs from its adjusted tax basis for federal income
tax purposes, the amount of depreciation, amortization or cost recovery deductions with respect to such asset for purposes of determining Net Income and Net Loss shall be an amount that bears the same ratio to such Book Value as the federal income
tax depreciation, amortization or other cost recovery deductions 
  

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 bears to such adjusted tax basis (provided that if the federal income tax depreciation, amortization or other cost
recovery deduction is zero, the Managing Member may use any reasonable method for purposes of determining depreciation, amortization or other cost recovery deductions in calculating Net Income and Net Loss); and (e) any expenditures of the
Company not deductible in computing taxable income or loss, not properly capitalizable and not otherwise taken into account in computing Net Income and Net Loss pursuant to this definition, shall be treated as deductible items. 
 “Newly Issued Securities” has the meaning set forth in Section 7.02(a). 
 “Necessary Action” means, with respect to a specified result, all actions (to the extent such actions are, at the time taken, within the
power of the Person taking such actions and are permitted by law) necessary to cause such result, including (i) voting or providing a written consent or proxy with respect to the voting securities of CAC, (ii) causing the adoption of
stockholders’ resolutions and amendments to the certificate of incorporation and by-laws of CAC, (iii) causing members of the CAC Board (to the extent such members were nominated or designated by the Person obligated to undertake the
Necessary Action, and subject to any fiduciary duties that such members may have as directors of CAC) to act in a certain manner or causing them to be removed in the event they do not act in such a manner, (iv) executing agreements and
instruments, and (v) making, or causing to be made, with governmental, administrative or regulatory authorities, all filings, registrations or similar actions that are required to achieve such result; provided that none of the actions
set forth in this definition shall limit the ability of the Company to sell or otherwise dispose of securities in accordance with the terms of this Agreement. 
 “Non-Trimaran Director” has the meaning set forth in Section 3.04(a). 
 “Offer
Notice” has the meaning set forth in Section 8.02(a)(i). 
 “Person” means any individual, partnership,
corporation, limited liability company, unincorporated organization, trust or joint venture, or a governmental agency or political subdivision thereof. 
 “Plan” has the meaning set forth in Section 12.01(p). 
 “Preemptive Rights
Notice” has the meaning set forth in Section 7.02(c). 
  

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 “Pro Rata Portion” means: 
 (a) for purposes of Section 7.01, a number of equity securities (including but not limited to Membership Units) or amount of debt securities, as
applicable, equal to the product of (i) the number of equity securities or amount of debt securities, as applicable, the Company proposes to issue on the relevant issuance date and (ii) a fraction, the numerator of which is the number of
Membership Units held by the relevant Member immediately prior to such date and the denominator of which is the aggregate number of Membership Units held by all Members immediately prior to such date; provided that if, at the time of any
proposed debt issuance, the Company has outstanding debt securities, the numerator will be the amount of debt securities held by the relevant Member immediately prior to such issuance date and the denominator will be the aggregate amount of debt
securities held by all Members immediately prior to such date; 
 (b) for purposes of Section 7.02 in respect of Newly Issued
Securities, a number of Newly Issued Securities equal to the product of (i) the number of Newly Issued Securities that the Company is permitted to purchase on any date upon exercise of its preemptive rights in accordance with the Stockholders
Agreement and (ii) a fraction, the numerator of which is the number of Membership Units held by the relevant Member immediately prior to such date and the denominator of which is the aggregate number of the Membership Units held by all Members
immediately prior to such date; 
 (c) for purposes of Section 7.02 in respect of Other Securities, a number of Other Securities equal
to the product of (i) the aggregate number of such securities that the Company is permitted to purchase pursuant to Section 7.03 on the relevant issuance date and (ii) a fraction, the numerator of which is the number of Membership
Units held by the relevant Member immediately prior to such date and the denominator of which is the aggregate number of Membership Units held by all Members immediately prior to such date; 
 (d) for purposes of Section 8.03, a number of Membership Units equal to the product of (i) the number of Membership Units held by the Tagging
Member and (ii) a fraction, the numerator of which is the number of Membership Units proposed to be Transferred by the Transferring Members in connection with the Tag-Along Transfer and the denominator of which is the aggregate number of
Membership Units held by such Transferring Members immediately prior to such Tag-Along Transfer; 
 (e) for purposes of Section 8.04, a
number of Membership Units equal to the product of (i) the number of Membership Units held by the relevant Drag-Along Member and (ii) a fraction, the numerator of which is the number of Membership Units proposed to be Transferred by the
Selling Members to the Drag-Along Buyer and the denominator of which is the aggregate number of Membership Units of the Selling Members. 
 “Purchase Agreement” means the Stock Purchase Agreement, dated September 27, 2005, among Chicken Acquisition Corp., EPL Holdings, Inc., EPL Intermediate, Inc., El Pollo Loco, Inc. and American Securities Capital
Partners, L.P. 
  

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 “Qualified Purchaser” has the meaning set forth in Section 12.01(f). 
 “Securities Act” means the U.S. Securities Act of 1933, as amended from time to time. 
 “Selling Members” has the meaning set forth in Section 8.04(a). 
 “Stockholders Agreement” means the agreement entered into among the Company, CAC and certain other parties thereto as of the Closing
Date setting forth, among other things, certain drag-along, registration and preemptive rights granted to the Company in respect of the equity securities of CAC, a draft of which is attached as Exhibit A hereto. 
 “Subsidiary” means, with respect to any Person, any corporation, partnership, joint venture or other legal entity of which such Person
(either alone or through or together with any other Subsidiary) (a) owns, directly or indirectly, fifty percent (50%) or more of the stock, partnership interests or other equity interests which are generally entitled to vote for the
election of the board of directors or other governing body of such corporation, partnership, joint venture of other legal entity; or (b) possesses, directly or indirectly, control over the direction of management or policies of such
corporation, partnership, joint venture or other legal entity (whether through ownership of voting securities, by agreement or otherwise). 
 “Tag-Along Notice” has the meaning set forth in Section 8.03(b). 
 “Tag-Along Transfer” has
the meaning set forth in Section 8.03(a). 
 “Tagging Member” has the meaning set forth in Section 8.03(a).

 “Termination Date” has the meaning set forth in Section 11.06(a). 
 “Threshold Interest Amount” means, with respect to any Investor Member, fifty percent (50%) of the aggregate number of Membership
Units issued to such Investor Member as of the Closing Date. 
 “Transfer” means, with respect to any Membership Units, a
transfer, sale, exchange, assignment, pledge, hypothecation or other encumbrance or disposition, including the grant of an option or other right, whether directly or indirectly, whether voluntarily, involuntarily or by operation of law, of such
Membership Units, and “Transferred” and “Transferee” each have a correlative meaning. For purposes of this definition, the term “Transfer” shall exclude (i) the transfer, sale, exchange,
assignment, pledge, hypothecation or other encumbrance or disposition, 
  

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 including the grant of an option or other right, whether directly or indirectly, whether voluntarily, involuntarily or by
operation of law, of the interest held by any limited partner or member in a Member, other than such limited partners or members that are Affiliates of the Managing Member or an Investor Member and (ii) the transfer, sale, exchange, assignment,
pledge, hypothecation or other encumbrance or disposition, involuntarily or by operation of law, of any interest in any Person that directly or indirectly Controls or owns a Member that (x) if publicly traded, has an aggregate market
capitalization in excess of $500 million, (y) if not publicly traded, has assets with a fair market value (as reasonably determined in good faith by the Board of Directors (or similar body) of such parent entity) in excess of $500 million or
(z) is otherwise consented to in writing by the Managing Member (such consent not to be unreasonably withheld). 
 “Transferring
Member” has the meaning set forth in Section 8.03(a). 
 “Treasury Regulations” shall mean the income tax
regulations promulgated under the Code, as amended from time to time (including any successor regulations). 
 “Trimaran”
means Trimaran Capital, L.L.C., a Delaware limited liability company, and any successor thereto. 
 “Trimaran Director” has
the meaning set forth in Section 3.04(a). 
 “Trimaran Principal” shall mean any of Jay R. Bloom, Andrew R. Heyer or
Dean C. Kehler. 
 “Trimaran Vehicle” means any of Trimaran Fund II, L.L.C., Trimaran Parallel Fund II, L.P., Trimaran
Capital, L.L.C., CIBC Employee Private Equity Fund (Trimaran) Partners and CIBC Capital Corporation and any of their respective Affiliates that are Members hereunder. The Trimaran Vehicles shall be considered a single Member for purposes of this
Agreement, except as expressly provided. 
 “Voting Securities” means securities entitled to vote in any election of the
board of directors (or other similar governing body) of any Person, measured by voting power rather than number of securities. 
 Section 1.02 Other Interpretive Provisions. (a) The meanings of defined teens are equally applicable to the singular and plural forms thereof. 
 (b) The words “hereof”, “herein”, “hereunder” and similar words refer to this Agreement as a whole and not to any particular provision of this Agreement; and any
subsection, Section, Exhibit, Schedule and Annex references are to this Agreement unless otherwise specified. 
  

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 (c) The term “including” is not limiting and means “including without
limitation.” 
 (d) The captions and headings of this Agreement are for convenience of reference only and shall not affect the
interpretation of this Agreement. 
 (e) Whenever the context requires, any pronouns used herein shall include the corresponding masculine,
feminine or neuter forms. 
 ARTICLE II 
 ORGANIZATION 
 Section 2.01 Formation of the Company. The Members hereby:

 (a) approve and ratify the filing of the Certificate of Formation with the Secretary of State of the State of Delaware on the Formation
Date by Mary Keogh and all actions taken by or on behalf of the Company on or prior to the execution of this Agreement (which have been solely organizational in nature); and 
 (b) confirm and agree to their status as Members of the Company as set forth herein. 
 Section 2.02 Office of the Company. The Company shall have its principal office at 622 Third Avenue, 35th Floor, New York, New York 10017, and may establish such other offices or places of business for the Company as the Managing Member may in its sole
discretion deem appropriate. 
 Section 2.03 Registered Office and Registered Agent. The Company shall have its registered office
in the State of Delaware at Corporation Trust Center, 1209 Orange Street, Wilmington, County of New Castle, Delaware 19801. The name of the Company’s registered agent at such address is The Corporation Trust Company. 
 Section 2.04 Purposes of the Company; Investments. The purposes of the Company shall be to, directly or indirectly, (a) invest in, hold
and dispose of (i) (A) the securities of CAC and/or (B) any securities acquired by the Company in respect of, or in exchange for, 
  

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 such securities in connection with a transaction in which all the stockholders of CAC are given an opportunity to
participate on a pro rata basis and/or (ii) the securities of any other Persons involved in the restaurant or restaurant services businesses that constitute an addition or extension of the El Pollo Loco, Inc. business;
(b) receive dividends, interest or other passive income and gains in connection therewith; and (c) take any action that is necessary, advisable or appropriate in connection therewith. 
 Section 2.05 Term of the Company. The existence of the Company commenced as of the date that the Certificate of Formation was filed with the
Secretary of State of the State of Delaware and shall continue until dissolution thereof in accordance with the provisions of this Agreement. 
 ARTICLE III 
 MANAGEMENT OF THE COMPANY; CAC BOARD 
 Section 3.01 Management Generally. Except as expressly set forth herein or under the Act, the full and exclusive right, power and authority
to manage the Company is vested in, and reserved to, the Managing Member. The business and affairs of the Company shall be conducted, and its capital, assets and funds shall be managed, dealt with and disposed of exclusively by the Managing Member
and, except as expressly set forth herein or under the Act, all decisions to be made by or on behalf of the Company shall be made solely by the Managing Member; provided that the Managing Member agrees to act reasonably and in good faith in
taking such actions or making such decisions. 
 Section 3.02 Managing Member. Trimaran Capital, L.L.C. shall be the managing
Member of the Company (the “Managing Member”). In the event that the Managing Member is unable to serve as Managing Member, or having commenced to serve, withdraws, such withdrawing Managing Member shall, at the sole option of the
Managing Member select a replacement (which replacement shall be an Affiliate of the Managing Member). 
 Section 3.03 Officers.
(a) The Managing Member may, from time to time, designate one or more persons to be officers of the Company. No officer need be a resident of the State of Delaware. Any officers so designated shall have such authority and perform such duties as
the Managing Member may, from time to time, delegate to them. The Managing Member may assign titles to particular officers. Unless the Managing Member decides otherwise, if the title is one commonly used for officers of a business corporation formed
under the General Corporation Law of the State of Delaware, the assignment of such title shall constitute the delegation to such officer of the authority and duties that are normally associated with that office, subject to any restrictions on such
authority imposed by the Managing Member. Any number of offices may be held by the same person. Without regard to the general delegation to the officers as set forth above, each officer who holds the title of “President”, “Senior Vice
President” or “Vice President”, acting alone, shall have the authority to make, enter into and perform all 
  

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 contracts, agreements, reports and undertakings of the Company that have been authorized by the Managing Member. In each
case, the execution and delivery of such contracts, agreements or other documents, or the taking of any actions in connection therewith, shall be conclusive evidence of the Company’s approval thereof, and no further approval by the Company
shall be required. 
 (b) Each officer shall hold office until his or her successor shall be duly designated and qualified or until his or
her death or until he or she shall resign or shall have been removed in the manner hereinafter provided. 
 (c) Any officer may resign as
such at any time. Such resignation shall be made in writing and shall take effect at the time specified therein, or if no time be specified, at the time of its receipt by the Managing Member. The acceptance of a resignation shall not be necessary to
make it effective, unless expressly so provided in the resignation. 
 (d) Any officer may be removed as such, either with or without cause,
by the Managing Member at any time. Any vacancy occurring in any office of the Company may be filled by the Managing Member. 
 (e) The
following persons are hereby appointed officers of the Company: 
 Steven A. Flyer — President 
 Dean C. Kehler — Vice President 
 Andrew R. Heyer — Vice President 
 Jay R. Bloom — Vice President and Secretary 
 David L. Benyaminy — Assistant Secretary 
 Section 3.04 CAC Board. (a) The board of directors of CAC (the “CAC Board”) shall initially consist of a total of seven (7) directors. Except as provided by Section 3.04(c) below, the Managing
Member may cause the Company to change the total number of directors comprising the CAC Board, to designate or change the class and voting power of such directors, to appoint any additional directors to the CAC Board and to fill any vacancies on the
CAC Board. The Company shall take all Necessary Action to cause any decision of the Managing Member pursuant to the preceding sentence to be effectuated as the Managing Member deems appropriate. 
 (b) All directors on the CAC Board shall be designated by the Trimaran Vehicles, except as provided in Section 3.04(c) below. All Persons designated
to the CAC Board by the Trimaran Vehicles shall be “Trimaran Directors” and all others (including those designated pursuant to Sections 3.04(c) and 3.04(e) below) shall be “Non-Trimaran Directors.” 
  

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 Subject to Section 3.04(c), the Non-Trimaran Directors shall initially include one designee of American Securities.
All Persons to be elected as Trimaran Directors shall be designated by the Trimaran Vehicles, in a manner specified by the Managing Member. The Company and the Managing Member shall take all Necessary Action to cause the election of any Persons
properly designated as Trimaran Directors or Non-Trimaran Directors. 
 (c) For so long as an Investor Member (together with its Affiliates)
holds at least fifteen (15)% of the aggregate number of Membership Units outstanding, such Investor Member shall have the right, but not the obligation, to designate one (1) Person to be elected as a Non-Trimaran Director, and the Company shall
take all Necessary Action to cause the election of such Person as a Non-Trimaran Director; provided, however, American Securities shall have the right, but not the obligation, to elect (or have elected by the Members) one Person to the CAC
Board (which Person shall initially be Glenn Kaufman) until such time as American Securities no longer holds Membership Units; provided further, however, that upon consummation of an IPO, such right shall remain until such time as
American Securities holds less than its Threshold Interest Amount. 
 (d) Notwithstanding anything to the contrary herein, any Non-Trimaran
Director shall be reasonably acceptable to the Managing Member (it being understood that Glenn Kaufman, David L. Horing and Michael G. Fisch are reasonably acceptable to the Managing Member). The Company and the Managing Member shall take all
Necessary Action to cause the election of any Non-Trimaran Director pursuant to the foregoing. 
 (e) The Company shall take all Necessary
Action to cause the election of the chief executive officer of EPL Holdings, Inc. as a Non-Trimaran Director. 
 (f) Persons serving on the
CAC Board or the boards of other Subsidiaries of the Company shall be reimbursed for reasonable, documented travel expenses incurred in connection with attendance at applicable board meetings. 
 (g) The board of directors of each Material Subsidiary shall (i) consist of the same proportion of Trimaran Directors and Non-Trimaran Directors as
that of the CAC Board and (ii) be elected and appointed in the same manner as the CAC Board, with each Investor Member that has the right to designate a member of the CAC Board having the right to designate a member of the board of directors of
each Material Subsidiary. The Managing Member shall amend Schedule D to reflect any additional Material Subsidiaries. The Company shall use its reasonable best efforts to provide that directors and officers liability insurance maintained by
CAC, and indemnification rights applicable to CAC directors, shall be similarly maintained or provided, as applicable, to Members serving in their capacities as directors of Material Subsidiaries. 
  

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 (h) The Continental Member shall have observer rights with respect to CAC Board meetings. 
 Section 3.05 Meetings of Members. Meetings of Members may be called by the Managing Member from time to time. Notice of any meeting shall be
given to all Members not less than three nor more than 20 Business Days prior to the date of such meeting and shall state the location, date and hour of the meeting. Meetings shall be held at the location (within and without the State of Delaware)
at the date and hour set forth in the notice of the meeting. No notice of any meeting of Members need be given to any Member who submits a signed waiver of notice, whether before or after the meeting. Neither the business to be transacted at, nor
the purpose of, any regular or special meeting of the Members need be specified in a written waiver of notice. The attendance of any Member at a meeting of Members shall constitute a waiver of notice of such meeting, except when the Member attends a
meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business on the ground that the meeting is not lawfully called or convened. 
 Section 3.06 Member Transactions. Transactions between the Company, on the one hand, and any Member (or an Affiliate thereof) shall be on
terms no less favorable to the Company than terms that could be obtained on an arms length basis from an unrelated third party; provided that transactions that are not arms length shall be subject to approval by holders of a majority of the
aggregate Membership Units held by Members that are disinterested with respect to the applicable transaction (it being agreed that any Member that is a limited partner of an interested party shall be deemed disinterested for this purpose unless such
Member has a direct pecuniary interest in the applicable transaction or is an Affiliate of a Member that has a direct pecuniary interest in the applicable transaction); provided further however that if no Members are disinterested, no such separate
approval shall be required. Notwithstanding the foregoing or anything to the contrary set forth in this Agreement, an increase or series of increases in the annual monitoring fee payable to an Affiliate of Trimaran under the Management and
Monitoring Agreement not to exceed $500,000 in the aggregate (i.e., to provide for an annual aggregate monitoring fee of up to $1,000,000), as determined in the discretion of Trimaran in good faith, shall not be subject to any disinterested Member
approval hereunder or otherwise so long as such increase is intended to reasonably compensate Affiliates of Trimaran for incremental monitoring responsibilities or activities to be performed by Affiliates of Trimaran under such agreement relative to
the responsibilities or activities performed by them as of the date hereof. For the avoidance of doubt, the foregoing provision shall not apply to transactions expressly contemplated by this Agreement (including but not limited to transactions
covered under Articles IV, VII and VIII). 
 Section 3.07 Other. The Managing Member agrees that it will not take any action
which would discriminate against any Investor Member (including as a result of holding a minority interest in the Company) in general or relative to the interests of the Managing Member, other than with respect to those rights that the Managing
Member has in its capacity as a managing member under this Agreement as in effect as of the date hereof. 
  

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 ARTICLE IV 
 CAPITAL CONTRIBUTIONS, MEMBERSHIP UNITS 
 AND CAPITAL ACCOUNTS 
 Section 4.01 Capital Contributions. (a) At or prior to the execution of this Agreement, (i) each Member has made a Capital
Contribution to the Company in the amount set forth opposite such Member’s name on Schedule B and, in consideration thereof, the Company has issued to such Member the number of Membership Units set forth opposite such Member’s name on
Schedule B; (ii) the Trimaran Vehicles contributed to the Company all of the shares of common stock of CAC held by Trimaran, pursuant to a contribution agreement in a form reasonably acceptable to the Managing Member; and (iii) American
Securities contributed to the Company all of the shares of common stock of CAC held by American Securities, pursuant to the Exchange and Contribution Agreement, dated as of November 18, 2005. 
 (b) With respect to cash amounts received by the Company pursuant to subsection (a) above, any of the Officers of the Company shall be authorized to
authorize the contribution of all or a portion of such funds promptly to CAC and/or any other Subsidiary thereof. Notwithstanding anything to the contrary, no further approval of the Board of Directors of CAC shall be required with respect to the
foregoing. 
 Section 4.02 Additional Capital Contributions. (a) Except as provided in Section 4.01, or in connection
with the exercise of the rights set forth in Section 7.01 and 7.02(d) by such Member, no Member shall be obligated to make Capital Contributions to the Company without the consent of such Member, nor shall any Member be entitled to make any
Capital Contribution other than as set forth in Section 4.01 or pursuant to Article VII; provided that this sentence shall not limit the obligations of Members to make payments pursuant to Section 8.01(e). The Managing Member shall
amend Schedule B to reflect the making of any additional Capital Contributions and the issuance of any additional Membership Units. 
 (b) The Company shall issue one or more additional classes of membership interests in the Company in connection with additional Capital Contributions to the Company. In connection with any such additional issuance, the Managing Member shall
determine the terms and conditions applicable to such new membership interests and shall amend this Agreement (including Article V hereof) to reflect the issuance of such new membership interests. Notwithstanding the foregoing, (i) no issuance
of additional membership interests pursuant to the terms of this Section 4.02(b) shall adversely affect the economic rights attached to Membership Units issued on the Closing Date and (ii) if any amendment made pursuant to the terms of
this Section 4.02(b) would have an adverse economic effect on a Member (other than as a result of such Member electing not to exercise any rights granted to such Member pursuant to the terms of this Agreement), such amendment shall require the
prior written consent of such Member. Issuances of membership interests in respect of additional Capital Contributions shall be on an arms length basis. 
  

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 Section 4.03 Additional Members. Subject to the provisions of Section 7.01, the Managing
Member may admit one or more additional Members to the Company on such terms as the Managing Member may determine. An additional Member shall (a) execute a counterpart to this Agreement and (b) make a Capital Contribution to the Company in
an amount determined by the Managing Member. The Managing Member shall amend Schedule B to reflect the admission of any additional Members. 
 Section 4.04 Capital Accounts. (a) The Company shall maintain separate capital accounts (a “Capital Account”) for each Member in accordance with the following provisions: 
 (i) Each Member’s Capital Account shall be increased by the amount of such Member’s Capital Contributions, any Net Income (and
items thereof) allocated to such Member pursuant to Section 6.01, and the amount of any Company liabilities assumed by such Member. 
 (ii) Each Member’s Capital Account shall be decreased by the amount of cash and the gross fair market value (as determined by the Managing Member in its good faith judgment) of any other Company property
distributed to such Member (net of any liabilities the Member is considered to assume or take such property subject to), any Net Loss (and items thereof) allocated to such Member pursuant to Section 6.01 and the amount of any liabilities of
such Member assumed by the Company. 
 (iii) In the event all or any portion of a Member’s Membership Units are
Transferred in accordance with the terms of this Agreement, the Transferee shall succeed to the Capital Account of such Member to the extent such Capital Account relates to the Transferred Membership Units. 
 (b) The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with
Treasury Regulations issued under Section 704(b) of the Code and shall be interpreted and applied in a manner consistent with such Treasury Regulations. The Managing Member shall be authorized to make appropriate amendments to the allocations
of items pursuant to this Section 4.04 if necessary in order to comply with Section 704 of the Code or applicable Treasury Regulations thereunder, provided that no such change shall reduce the amount distributable to any Member
pursuant to this Agreement. 
 Section 4.05 Return of Capital. Except upon the dissolution of the Company or as otherwise
provided herein, no Member shall have the right to withdraw from the Company or to demand or to receive the return of all or any part of its Capital Account or its Capital Contributions. 
  

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 Section 4.06 No Interest on Capital Contribution. No Member shall be paid interest on any of
its Capital Contributions or on its Capital Accounts. 
 ARTICLE V 
 DISTRIBUTIONS 
 Section 5.01 Distributions. (a) Except
as otherwise set forth herein and subject to the second sentence hereof, distributions to the Members shall be made at such times and in such amounts as the Managing Member shall determine in its sole discretion; provided that, subject to
Section 8.07, any such distributions (including for this purpose any transfer of Members’ indirect ownership interests in CAC to the Members), shall be made pro rata in accordance with the Members’ respective Membership
Units. Subject to the maintenance by the Company of appropriate reserves (as determined by the Managing Member in its reasonable judgment), the Company shall promptly (and in any event within fifteen (15) Business Days) distribute all cash it
receives in respect of its ownership interest in CAC and, to the extent practicable, shall make such distributions to Members in sufficient time for Members (or their direct or indirect owners) to pay any taxes with respect to their proportionate
indirect ownership interests in CAC. 
 (b) Distributions may be made in cash or property, as determined by the Managing Member in its
reasonable judgment; provided that any such distributions to the Members shall consist of the same relative composition of cash and/or property to each Member, except as otherwise expressly permitted herein. 
 (c) In the event the Managing Member distributes non-Marketable Securities to any Member pursuant to the terms of this Agreement, other than
(i) Newly Issued Securities or (ii) any securities distributed in connection with a dissolution of the Company (other than a dissolution pursuant to Section 11.01(a)(i)), such Member shall enter into a stockholders agreement with the
Managing Member (or its designee) in respect of such non-Marketable Securities (i) containing substantially the same terms and conditions as set forth in Articles VII, VIII, and XIII, and Sections 9.04 and 3.04 hereof, (ii) providing that
the right to vote such non-Marketable Securities shall remain with the Company or, if the Company has been dissolved, shall lie with the Managing Member and (iii) in the event that such non-Marketable Securities are distributed to the limited
partners of the any of the Trimaran Vehicles, containing no greater restrictions on such Member than apply to the non-Marketable Securities that are held by the limited partners of such Trimaran Vehicle. Any such agreement shall terminate upon the
earlier of (i) the time that the Managing Member (or its Affiliates) no longer Controls, directly or indirectly, CAC, and (ii) the sixth anniversary of an IPO. 
 (d) In the event that following an IPO (i) (a) American Securities holds less than its Threshold Interest Amount and (b) the Managing Member elects to remove the representative of American
Securities from the CAC Board and each Subsidiary Board (in 
  

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 accordance with the rights set forth in Section 3.04(c)) or (ii) American Securities holds less than its De
Minimis Interest Amount and the market value of the CAC common stock beneficially owned by American Securities through its membership interests in the Company constitutes less than five percent (5%) of the aggregate market value of the
public float of CAC common stock, then (in either case (i) or (ii)) American Securities shall be entitled to receive a pro rata distribution of the shares of CAC common stock held by the Company in proportion to its ownership of membership
interests in the Company (as determined by the Managing Member in good faith) for subsequent resale in compliance with applicable securities laws. In the event that American Securities receives any distribution of shares pursuant to the foregoing,
American Securities agrees that it shall comply with any customary requests by underwriters with respect to lockup or similar arrangements with securityholders to the extent officers and directors and/or major stockholders are similarly bound. Any
distribution to American Securities pursuant to this Section 5.01(d) foregoing shall be in termination of its entire interest in the Company. 
 (e) If (i) an IPO has occurred and (ii) on the Windup Distribution Date the market value of the CAC common stock beneficially owned by American Securities through its membership interests in the Company constitutes less than five
percent (5%) of the aggregate market value of the public float of CAC common stock, then American Securities shall be entitled, on or following the Windup Distribution Date, to receive a pro rata distribution of the shares of CAC common stock
held by the Company in proportion to its ownership of membership interests in the Company (as determined by the Managing Member in good faith) for either (i) subsequent distribution to American Securities’ limited partners or members, as
applicable or (ii) sale by American Securities and a subsequent distribution of the proceeds of such sale to its limited partners or members. For purposes of the foregoing, “Windup Distribution Date” shall mean four years following
the date of this Agreement. In the event that American Securities receives any distribution of shares pursuant to the foregoing, American Securities agrees that it shall, and shall cause its limited partners or members, as applicable, to comply with
any customary requests by underwriters with respect to lockup or similar arrangements with securityholders to the extent officers and directors and/or major stockholders are similarly bound. Any distribution to American Securities pursuant to this
Section 5.01(e) shall be in termination of its entire interest in the Company. 
 Section 5.02 Limitations on Distribution.
Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Member on account of its Membership Units if such distribution would violate Section 18-607 of the Act or other
applicable law. 
 Section 5.03 Offset. Whenever the Company is to pay any sum to any Member, any amounts such Member owes the
Company or any of its Controlled Affiliates pursuant to this Agreement, as determined by the Managing Member in its reasonable judgment, may be deducted from such sum before payment, to the extent permitted by applicable law. 
  

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 ARTICLE VI 
 ALLOCATIONS 
 Section 6.01 Allocation of Profits and Losses. (a) Except as
otherwise set forth in this Section 6.01, for Capital Account purposes, Net Income (and items thereof) and Net Loss (and items thereof) for any fiscal period shall be allocated among the Members pro rata in accordance with each Member’s
respective Membership Units. 
 (b) For federal, state and local income tax purposes, items of income, gain, loss, deduction and expense
shall be allocated to the Members in accordance with the allocations of the corresponding amount of Net Income (and items thereof) or amount of Net Loss (and items thereof) of which such items of income, gain, loss, deduction or expense are
components for Capital Account purposes under this Section 6.01, except that items with respect to Company property for which there is a difference between tax basis and the Book Value of such property shall be allocated in accordance with
Section 704(c) of the Code, the Treasury Regulations thereunder, and Treasury Regulations Section 1.704-1(b)(4)(i). The Company shall specially allocate long-term capital gains with respect to Membership Units for which a Member’s
holding period would entitle such Membership Units to be taxable as long-term capital gains if such Member sold such Membership Units. 
 (c)
Notwithstanding any provision of this Section 6.01, no item of deduction, loss or expense shall be allocated to a Member to the extent the allocation would cause a negative balance in such Member’s Capital Accounts (after taking into
account the adjustments, allocations and distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) that exceeds the sum of (i) the amount that such Member would be required to reimburse the Company
pursuant to this Agreement or under applicable law and (ii) the amount that such Member is deemed obligated to reimburse pursuant to the penultimate sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). In the event some
but not all of the Members would have such excess Capital Account deficits as a consequence of such allocation of loss, deduction or expense, the limitation set forth in this Section 6.01(c) shall be applied on a Member-by-Member basis so as to
allocate the maximum permissible deduction, loss or expense to each Member under Section 1.704-1(b)(2)(ii)(d) of the Treasury Regulations. In the event any loss, deduction or expense shall be specially allocated to a Member pursuant to the
preceding sentence, an equal amount of income or gain of the Company shall be specially allocated to such Member prior to any allocation pursuant to Section 6.01(a). 
 (d) In the event any Member unexpectedly receives any adjustments, allocations, or distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6), items of Company income and gain
shall be specially allocated to such Member in an amount and manner sufficient to eliminate as quickly as possible any deficit balance in its Capital Account in excess of that permitted under Section 6.01(c) created by such adjustments,
allocations or distributions. Any special allocations of items of income or gain pursuant to this Section 6.01(d) shall be taken into account in computing subsequent allocations pursuant to this 
  

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 Section 6.01 so that the net amount of any items so allocated and all other items allocated to each Member pursuant
to this Section 6.01 shall, to the extent possible, be equal to the net amount that would have been allocated to each such Member pursuant to the provisions of this Section 6.01 if such unexpected adjustments, allocations or distributions
had not occurred. 
 (e) In the event the Company incurs any nonrecourse liabilities, income and gain shall be allocated in accordance with
the “minimum gain chargeback” provisions of Section 1.704-1(b)(4)(iv) and 1.704-2 of the Treasury Regulations. 
 (f) The
Capital Accounts of the Members shall be adjusted in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(f) to reflect the fair market value (as determined by the Managing Member in its good faith judgment) of Company property
whenever Membership Units are relinquished to the Company, whenever an additional Member is admitted to the Company in accordance with Section 4.03, upon any termination of the Company within the meaning of Section 708 of the Code, and
when the Company is liquidated pursuant to Article XI, and shall be adjusted in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(e) in the case of a distribution of any property (other than cash). 
 (g) All elections, decisions and other matters concerning the allocation of income, gains, losses, deductions and expenses among the Members, and
accounting procedures, not specifically and expressly provided for by the terms of this Agreement, shall be determined by the Managing Member in good faith. Such determination made in good faith by the Managing Member shall, absent manifest error,
be final and conclusive as to all Members. 
 (h) In the event of a Transfer of a Member’s Membership Units pursuant to Article VIII, at
the request of the Member transferring such Membership Units or its successor in interest that the Company make an election under Section 754 of the Code, if such election would not materially adversely affect the interests of the Members, the
Managing Member may, in its reasonable judgment, cause the Company to make such election (which election, unless properly revoked, will, in accordance with Section 754 of the Code and the Treasury Regulations thereunder, be binding with respect
to all subsequent Transfers of Membership Units of the Company and with respect to certain distributions of property by the Company). 
 Section 6.02 Withholding. Notwithstanding any other provision of this Agreement, the Managing Member is authorized to take any action that it determines to be necessary or appropriate to cause the Company to comply with any
foreign or United States federal, state or local tax withholding or deduction requirement with respect to any allocation, payment or distribution by the Company to any Member or other Person. All amounts so withheld or deducted with respect to any
Member shall be treated as distributions to such Member under the applicable provisions of this Agreement. If any such withholding or deduction requirement with respect to any Member exceeds the amount distributable to such Member under the
applicable provision of this Agreement, or if any such withholding or deduction requirement was not satisfied with respect to any amount previously allocated or 
  

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 distributed to such Member, such Member and any successor or assignee with respect to such Member’s Membership Units
hereby indemnifies and agrees to hold harmless the Managing Member and the Company for such excess amount or such withholding or deduction requirement, as the case may be. 
 ARTICLE VII 
 PREEMPTIVE RIGHTS 
 Section 7.01 Additional Issuances of Equity and Debt Securities of the Company. (a) If, following the Closing Date, the Company proposes
to issue additional equity securities or debt securities (other than any issuances pursuant to, or consequent upon, the exercise of the preemptive rights set forth in Section 7.02), the Company shall provide written notice to each Member of
such anticipated issuance no later than twenty (20) Business Days prior to the anticipated issuance date. Such notice shall set forth the material terms and conditions of the issuance, including the proposed purchase price for the new equity
securities or debt securities, as applicable, and the anticipated issuance date. Each Member shall have the right to purchase up to its Pro Rata Portion of such new equity securities or debt securities at the price and on the terms and conditions
specified in the Company’s notice by delivering an irrevocable written notice to the Company no later than five (5) Business Days before the anticipated issuance date, setting forth the number of such new equity securities or amount of new
debt securities, as applicable, for which such right is exercised. Such notice shall also include the maximum number of new equity securities or amount of new debt securities, as applicable, the Member would be willing to purchase in the event any
other Member elects to purchase less than its Pro Rata Portion of such equity securities or debt securities. If any Member elects not to purchase its full Pro Rata Portion of such new equity securities or debt securities, the Company shall allocate
any remaining amount among those Members (pro rata in accordance with the Membership Units, or, in the case of a debt issuance that occurs when the Company already has outstanding debt securities, the debt securities then held by each such
Member) who have indicated in their notice to the Company a desire to purchase new equity securities or debt securities in excess of their respective Pro Rata Portions. 
 (b) In the event Members do not purchase all such new equity or debt securities in accordance with the procedures set forth in Section 7.01(a), the Company shall have sixty (60) days after the expiration of
the five (5) Business Day period to sell to other Persons (including other Members) the remaining new equity or debt securities at the price and on the terms and conditions specified in the Company’s notice to the Members pursuant to
Section 7.01(a). If the Company fails to sell such equity or debt securities within sixty (60) days of the notice provided pursuant to Section 7.01(a), the Company shall not thereafter issue or sell any equity or debt securities
without first offering such equity or debt securities to the Members in the manner provided in Section 7.01(a). The Managing Member shall amend Schedule B to reflect the purchase by any Person of Membership Units in accordance with the
terms of this Section 7.01. 
  

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 Section 7.02 Additional CAC Securities. (a) The Members hereby acknowledge that the
Company has been granted preemptive rights over future issuances of certain securities by CAC (the “Newly Issued Securities”) and securities of Subsidiaries of CAC (“Other Securities”) in each case pursuant to Article VIII of the
Stockholders Agreement and that such rights (and the rights described in this Section 7.02) are subject to, qualified by, and exercisable solely in accordance with, the terms of the Stockholders Agreement. 
 (b) At any time that the Company is permitted to exercise its preemptive rights over Newly Issued Securities under the Stockholders Agreement, each
Member shall have the right to cause the Company to purchase up to such Member’s Pro Rata Portion of such Newly Issued Securities in accordance with the procedures set forth herein. At any time that the Company is permitted to exercise its
preemptive rights over Other Securities under the Stockholders Agreement, each Member shall have the right to cause the Company to purchase up to such Member’s Pro Rata Portion of such Other Securities in accordance with the procedures set
forth herein so long as a Trimaran Vehicle (or an Affiliate thereof) is participating in such issuance (either directly or indirectly through a Capital Contribution by a Trimaran Vehicle or an Affiliate to the Company). 
 (c) The Company shall provide written notice (the “Preemptive Rights Notice”) to each Member of any proposed issuance of Newly Issued
Securities or Other Securities (as the case may be) over which the Company has preemptive rights under the terms of the Stockholders Agreement promptly following the Company’s receipt of notice of such issuance pursuant to the Stockholders
Agreement. Such Preemptive Rights Notice shall set forth the material terms and conditions of the issuance, including the proposed purchase price of the Newly Issued Securities or Other Securities (as the case may be), the proposed date of issuance
of the Newly Issued Securities or Other Securities (as the case may be) and the Pro Rata Portion of Newly Issued Securities or Other Securities (as the case may be) such Member may cause the Company to purchase in connection with such issuance. Each
Member shall have a period of ten (10) Business Days from the date the Preemptive Rights Notice is delivered (the “Election Period”) within which to cause the purchase of up to such Member’s Pro Rata Portion of Newly
Issued Securities or Other Securities (as the case may be), at the price and upon the terms specified in the Preemptive Rights Notice, by delivering an irrevocable written notice (the “Election Notice”) to the Company setting out
the number of Newly Issued Securities or Other Securities (as the case may be) for which such right is exercised. Such Election Notice shall also include the maximum number of additional Newly Issued Securities or Other Securities (as the case may
be) such Member would be willing to cause the Company to purchase in the event any other Member elects to cause the purchase of less than its Pro Rata Portion of Newly Issued Securities or Other Securities (as the case may be). If any Member does
not deliver an Election Notice within the Election Period, such Member shall be deemed to have irrevocably waived any and all rights under this Section 7.02 with respect to such Newly Issued Securities or Other Securities (as the case may be)
(but not with respect to future issuances in accordance with this Section 7.02). In the event any Member elects not to cause the purchase of its full Pro Rata Portion of Newly Issued Securities or Other Securities (as the case may be), the
Company shall allocate any remaining amount among those Members (pro rata in accordance with the Membership Units then held by each such Member) who have indicated in an Election Notice a desire to cause the purchase of additional
Newly Issued Securities or Other Securities (as the case may be) in excess of their respective Pro Rata Portions. 
  

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 (d) Promptly following the end of the Election Period, the Company shall notify each electing Member of
the amount of Newly Issued Securities or Other Securities (as the case may be) for which it has exercised its rights under this Section 7.02, each such Member shall make a Capital Contribution to the Company in an amount equal to the purchase
price for such Newly Issued Securities or Other Securities (as the case may be), and the Managing Member shall apply such Capital Contributions to the purchase by the Company of such Newly Issued Securities or Other Securities (as the case may be).
The Managing Member, in its reasonable discretion, shall determine whether the Newly Issued Securities or Other Securities (as the case may be) shall be held by such Member or by the Company and, if by the Company, the number and class of new
membership interests in the Company to be issued in respect of any Capital Contributions by such Member for such Newly Issued Securities or Other Securities (as the case may be) and the terms and conditions applicable to such membership interests.
The Managing Member shall amend Schedule B to reflect the purchase of any such membership interests. Alternatively, in the event the Managing Member determines that such Member shall hold such Newly Issued Securities or Other Securities (as
the case may be) directly rather than through its membership interest in the Company, such Member hereby agrees that it shall, upon the Managing Member’s request, (i) enter into a shareholders agreement with the Managing Member (or its
designee) in respect of such Newly Issued Securities or Other Securities (as the case may be) containing substantially the same terms and conditions set forth in Articles VII, VIII, and XIII hereof, and providing that the right to vote such Newly
Issued Securities or Other Securities (as the case may be) shall remain with the Company, or, if the Company has been dissolved, shall lie with the Managing Member, until such time as the Managing Member (or its Affiliates) no longer Control,
directly or indirectly, CAC, and (ii) become a party to the Stockholders Agreement (or a similar agreement containing registration rights); provided, in each case that acquiring such securities directly and entering into such
stockholders agreement does not violate any of the provisions of the underlying agreements governing such Newly Issued Securities or Other Securities. 
 Section 7.03 Qualifications to Preemptive Rights. (a). [Intentionally Left Blank] 
 (b) Each
Member may assign its preemptive rights (in whole or in part) under the terms of this Article VII to any of its Affiliates that is a Member. Any such assignment shall be set forth in the Election Notice or the notice delivered by such Member to the
Managing Member under Section 7.01, as the case may be. 
 (c) In the event the Company holds Newly Issued Securities or Other
Securities (as the case may be) that a Member has caused the Company to purchase pursuant to the provisions of Section 7.02 and in which no Trimaran Vehicle (or its Affiliates) has an interest, the Managing Member shall not sell such Newly
Issued Securities or Other Securities (as the case may be) to any Person without the consent of such Member. For the avoidance of doubt, the provisions of this Section 7.03(c) shall in no way affect the rights or obligations of any Member
pursuant to the provisions of Section 8.04 hereof. 
  

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 ARTICLE VIII 
 TRANSFERS 
 Section 8.01 Transfer Restrictions. (a) Until the earlier of
(i) the date following an IPO upon which at least 20% of the common stock of CAC or a Subsidiary thereof has been sold pursuant to a public offering or under Rule 144 promulgated under the Securities Act; and (ii) the fifth
(5th) anniversary of the Closing Date (such earlier date, the “Initial Holding Period”), no Member, other than any Trimaran Vehicle, may Transfer any Membership Units, other than (i) to an Affiliate in accordance with the
terms of Section 8.05; (ii) to a Trimaran Vehicle or any Person controlled by or under control, or common control, of any Trimaran Principal; or (iii) pursuant to, or consequent upon, the exercise of the tag-along or drag-along rights
set forth in Sections 8.03 and 8.04, respectively, without the prior written consent of the Managing Member (which consent may not be unreasonably withheld by the Managing Member). After the Initial Holding Period, a Member, other than any Trimaran
Vehicle, may Transfer any Membership Units only in accordance with, and subject to the applicable provisions of, this Article VIII. For the avoidance of doubt, Transfers by Trimaran Vehicles shall be subject to the applicable provisions of Sections
8.01(c), (d) and (e), Section 8.03 and Section 8.04, as provided therein. 
 (b) Notwithstanding the foregoing, in no event
shall any Member, other than any Trimaran Vehicle, be entitled to Transfer any Membership Units, whether during or after the Initial Holding Period, to any Person that, in the good faith reasonable judgment of the Managing Member, is an actual or
potential competitor of, or otherwise adverse to the interests of, CAC. 
 (c) No Member shall be entitled to Transfer any Membership Units
or any other rights under this Agreement (including to an Affiliate) at any time unless the Managing Member is reasonably satisfied that such Transfer would not: 
 (i) violate the Securities Act or any state (or other jurisdiction) securities or “Blue Sky” laws applicable to the Company or
the Membership Units; 
 (ii) cause the Company to become subject to the registration requirements of the Investment Company
Act; 
 (iii) be a “prohibited transaction” under ERISA or the Code or cause all or any portion of the assets of the
Company to constitute “plan assets” under ERISA or Section 4975 of the Code; and 
  

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 (iv) cause the Company to become a “publicly-traded partnership”, as such term
is defined in Sections 469(k)(2) or 7704 of the Code. 
 (d) Any purported Transfer of Membership Units other than in accordance with this
Agreement shall be null and void, and the Company shall refuse to recognize any such Transfer for any purpose and shall not reflect in its records any change in record ownership of Membership Units pursuant to any such Transfer. 
 (e) Any Member that proposes to Transfer Membership Units in accordance with the terms and conditions hereof shall be responsible for any expenses
incurred by the Company in connection with such Transfer, other than pursuant to the exercise of registration rights under the Stockholders Agreement, in which case the expenses thereof shall be treated in accordance with the provisions of the
Stockholders Agreement, or as provided in Section 8.04 or 8.07; provided, however, that any liabilities incurred by the Company in connection with any such registration on behalf of one or more Members shall be borne by such
Members pro rata in accordance with the proceeds received by such Members in connection with such registration; provided, further, that any such Member’s liability under the foregoing proviso shall not exceed the amount of
proceeds received by such Member in such registration. 
 Section 8.02 Right of First Offer. (a) If the Managing Member is
required to consent to any Transfer of all or any portion of a Member’s Membership Units and provides such consent prior to the Initial Holding Period or if a Member desires to transfer such Membership Units following the Initial Holding Period
in accordance with the terms hereof, then a right of first offer shall be applicable with respect thereto in accordance with the following provisions: 
 (i) Any such Member shall provide the Managing Member with written notice (an “Offer Notice”) of its desire to Transfer such Membership Units. The Offer Notice shall specify the number of Membership
Units such Member wishes to Transfer, the proposed purchase price for such Membership Units and any other terms and conditions material to the sale proposed by such Member. 
 (ii) The Managing Member shall have a period of up to thirty (30) days following receipt of the Offer Notice to elect to purchase (or
to cause one or more of its Affiliates to purchase) all such Membership Units on the terms and conditions set forth in the Offer Notice by delivering to the transferring Member a written notice thereof. 
 (iii) If the Managing Member elects to purchase (or to cause one or more of its Affiliates to purchase) the Membership Units which are the
subject of the proposed Transfer within the applicable thirty (30) day period, such purchase shall be consummated within thirty (30) days after the date on which the Managing Member notifies the transferring Member of such election.

  

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 (iv) If the Managing Member does not elect to purchase the Membership Units within such
initial thirty (30) day period, or if earlier, upon notice by the Managing Member to the transferring Member of its election not to purchase the Membership Units subject to the Offer Notice, the transferring Member shall provide to each other
Member the Offer Notice (which notice to the transferring Member, if given, shall be provided to each other Member). Each Member shall have a period of up to fifteen (15) days following receipt of the Offer Notice to elect to purchase all such
Membership Units on the terms and conditions set forth in the Offer Notice (each electing Member, a “Purchasing Member”) by delivering to the transferring Member a written notice thereof; provided, if there is more than one
Purchasing Member, the Membership Units subject to the Offer Notice will be allocated pro rata based on the relative number of Membership Units held by each Purchasing Member. 
 (v) If Members do not elect to purchase the Membership Units subject to the Offer Notice within such fifteen (15) day period, the
transferring Member may Transfer such Membership Units at any time within sixty (60) days following such period at a price which is not less than the purchase price and on terms and conditions no more favorable to the purchaser than those
specified in the Offer Notice. 
 (vi) The provisions of this Section 8.02 shall not apply to Transfers of Membership
Units to Affiliates made in accordance with Sections 8.05 and 8.06 or to any distribution of Membership Units by the Trimaran Vehicles to their respective members or limited partners. 
 Section 8.03 Tag-Along Rights. (a) In the case of a proposed Transfer of the Membership Units held by any Trimaran Vehicle (the
“Transferring Member”) other than (i) to its Affiliates or any Person controlled by or under control, or common control, of any Trimaran Principal; (ii) pursuant to, or consequent upon the exercise of, any drag-along right
set forth in Section 8.04, (a “Tag-Along Transfer”); or (iii) pursuant to an Equity Syndication, each other Member may exercise tag-along rights in accordance with the terms, conditions and procedures set forth herein (any
Member exercising such rights, a “Tagging Member”). 
 (b) The Transferring Member shall promptly give notice (a
“Tag-Along Notice”) to each Member of any Tag-Along Transfer, setting forth the number of Membership Units proposed to be Transferred, the name and address of the Transferee, the proposed amount and form of consideration for such
Membership Units, and any other material terms and conditions of the Tag-Along Transfer. Each Member shall have a period of thirty (30) days from the date of the Tag-Along Notice within which to elect to sell up to its Pro Rata Portion of

  

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 Membership Units in connection with such Tag- Along Transfer. Any Member may exercise such right by delivery of an
irrevocable written notice to the Transferring Member specifying the number of Membership Units such Member desires to include in the Tag-Along Transfer. If the Transferring Member is unable to cause the Transferee to purchase all the Membership
Units proposed to be Transferred by the Transferring Member and the Tagging Members, then the number of Membership Units each such Member is permitted to sell in such Tag-Along Transfer shall be scaled back pro rata based on the number
of Membership Units held by such Member relative to the number of Membership Units held by all Members participating in such Tag-Along Transfer. The Transferring Member shall have a period of thirty (30) days following the expiration of the
thirty (30) day period mentioned above to sell all the Membership Units agreed to be purchased by the Transferee, on the payment terms specified in the Tag-Along Notice. 
 (c) Each Tagging Member shall agree (i) to make the same representations, warranties, covenants, indemnities and agreements to the Transferee as
made by the Transferring Members in connection with the Tag-Along Transfer (other than any non-competition or similar agreements or covenants that would bind the Tagging Member or its Affiliates), and (ii) to the same terms and conditions to
the transfer as the Transferring Members agree. Notwithstanding the foregoing, however, all such representations, warranties, covenants, indemnities and agreements shall be made by each Transferring Member and each Tagging Member severally and not
jointly, and any liability for breach of any such representations and warranties related to CAC shall be allocated among each Transferring Member and each Tagging Member pro rata based on the relative number of Membership Units to be
Transferred by each of them, and the aggregate amount of liability for each such Transferring Member and Tagging Member shall not exceed the U.S. dollar value of the total consideration to be paid by the Transferee to such Transferring Member and
Tagging Member, respectively. 
 (d) Each Member hereby acknowledges that “Management Stockholders” under the Stockholders
Agreement may have tag-along rights with respect to shares of common stock of CAC in connection with Transfers of Membership Units triggering tag-along rights hereunder. 
 (e) Each Member may assign its tag-along rights (in whole or in part) under the terms of this Section 8.03 to any of its Affiliates that is a Member. Any such assignment shall be set forth in the Election Notice
or the notice delivered by such Member to the Managing Member under Section 8.03(b). 
 Section 8.04 Drag-Along Rights.
(a) If the Trimaran Vehicles (the “Selling Members”) agree to Transfer, in any single or series of related transactions, greater than fifty percent (50%) of the aggregate number of Membership Units held at the time of such
Transfer by the Selling Members to a non-affiliated third party (“Drag-Along Transfer”), the Selling Members may exercise drag-along rights in accordance with the terms, conditions and procedures set forth herein. 
  

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 (b) The Managing Member shall promptly give notice (a “Drag-Along Notice”) to each other
Member (the “Drag-Along Member”) of any election by the Selling Members to exercise their drag-along rights under this Section 8.04, setting forth the name and address of the Transferee, the total number of Membership Units
proposed to be Transferred by the Selling Members, the proposed amount and form, ratable amount and choices (if applicable) of consideration for such Membership Units (provided, that the Drag-Along Members shall receive the identical form of
consideration that the Selling Members receive in any such Transfer), and all other material terms and conditions of the Drag-Along Transfer. Such notice shall also specify the number of Membership Units such Drag-Along Member shall be required to
transfer, up to such Drag-Along Member’s Pro Rata Portion of Membership Units. Any transfer of Membership Units by a Drag-Along Member pursuant to the terms hereof shall be at the price per Membership Unit specified in the Drag-Along Notice.

 (c) Each Drag-Along Member must agree (i) to make the same representations, warranties, covenants, indemnities and agreements as made
by the Selling Members in connection with the Drag-Along Transfer (other than any non-competition or similar agreements or covenants that would bind the Drag-Along Member or its Affiliates), and (ii) to the same terms and conditions to the
transfer as the Selling Members agree. Notwithstanding the foregoing, however, all such representations, warranties, covenants, indemnities and agreements shall be made by each Selling Member and Drag-Along Member severally and not jointly and any
liability for breach of any such representations and warranties related to CAC shall be allocated among each Selling Member and Drag-Along Member pro rata based on the relative number of Membership Units Transferred by each of them,
and the aggregate amount of liability for each such Selling Member and Drag-Along Member shall not exceed the U.S. dollar value of the total consideration to be paid by the Transferee to such Selling Member and Drag-Along Member, respectively.

 (d) In the event that any transfer pursuant to this Section 8.04 is structured as a merger, consolidation, or similar business
combination, each Drag-Along Member must further agree to (i) vote in favor of the transaction, (ii) take such other action as may be required to effect such transaction, and (iii) take all action to waive any dissenters, appraisal or
other similar rights with respect thereto. 
 (e) Solely for purposes of Section 8.04(d) and in order to secure the performance of each
Member’s obligations under Section 8.04(d), each Member hereby irrevocably appoints the Managing Member the attorney-in-fact and proxy of such Member (with full power of substitution) to vote, provide a written consent or take any other
action with respect to its Membership Units as described in this paragraph if, and only in the event that, such Member fails to vote or provide a written consent with respect to its Membership Units in accordance with the terms of
Section 8.04(d)(i) or fails to take any other action in accordance with the terms of Section 8.04(d)(ii) or Section 8.04(d)(iii) (each such Member, a “Breaching Drag-Along Member”) within ten (10) days of a
request for such vote, written consent or action. Upon such failure, the Managing Member shall have and is hereby irrevocably granted a proxy to vote or provide a written consent with respect to each such Breaching Drag-Along Member’s

  

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 Membership Units for the purposes of taking the actions required by Section 8.04(d). Each Member intends this proxy
to be, and it shall be, irrevocable and coupled with an interest, and each Member shall take such further action and execute such other instruments as may be necessary to effectuate the intent of this proxy and hereby revoke any proxy previously
granted by it with respect to the matters set forth in Section 8.04(d) with respect to the Membership Units owned by such Member. 
 (f)
If any Drag-Along Member fails to transfer to the Drag-Along Buyer the Membership Units to be sold pursuant to this Section 8.04, the Selling Members may, at their option, in addition to all other remedies they may have, deposit the purchase
price (including any promissory note constituting all or any portion thereof) for such Membership Units with any national bank or trust company having combined capital, surplus and undivided profits in excess of $500 million (the “Escrow
Agent”), and thereupon all of such Drag-Along Member’s rights in and to such Membership Units shall terminate. Thereafter, upon delivery to the Company by such Drag-Along Member of appropriate documentation evidencing the transfer of
such Membership Units to the Drag-Along Buyer, the Selling Members shall instruct the Escrow Agent to deliver the purchase price (without any interest from the date of the closing to the date of such delivery, any such interest to accrue to the
Company) to such Drag-Along Member. 
 (g) Any Transfer by the Trimaran Vehicles of Membership Units covered by this Section 8.04 may be
structured as an auction and may be initiated by the delivery to the Company and the other Members of a written notice that Trimaran has elected to initiate an auction sale procedure. Trimaran shall be entitled to take all steps reasonably necessary
to carry out an auction of the Company and its Subsidiaries, including, without limitation, selecting an investment bank, providing confidential information (pursuant to confidentiality agreements), selecting the winning bidder and negotiating the
requisite documentation. The Company and each Member shall provide assistance with respect to these actions as reasonably requested. 
 (h)
Any transaction costs, including transfer taxes and legal, accounting and investment banking fees incurred by the Company and the Trimaran Vehicles in connection with a Transfer of Membership Interests covered by this Section 8.04 shall, unless
the applicable purchaser refuses, be borne by the Company in the event of a merger, consolidation or sale of assets and shall otherwise be borne by the Members on a pro rata basis based on the consideration received by each Member with respect to
such transaction. 
 (i) The Members hereby acknowledge that the Company shall have the right to exercise drag along rights in respect of
shares of Company Stock (as defined in the Stockholders Agreement) pursuant to the terms and conditions of the Stockholders Agreement in the event that the Selling Members exercise rights under this Section 8.04, and the Selling Members shall
have the right to cause the Company to exercise such rights under the Stockholders Agreement. 
  

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 Section 8.05 Transfers to Affiliates. Subject to Section 8.06, any Member may Transfer
any Membership Units to an Affiliate of such Member; provided that such Transfer shall not be effective unless and until the Managing Member is reasonably satisfied that such Transfer complies with the conditions set forth in clauses
(i) through (iv) of Section 8.01(c); and, provided further that, notwithstanding anything to the contrary herein, transfers to Affiliates shall not trigger the right of first offer, tag-along or drag-along rights
described in Sections 8.02, 8.03 and 8.04, respectively; provided further that, in the case of American Securities, for purposes of this Section 8.05 and corresponding provisions addressing Transfers to Affiliates, an
“Affiliate” thereof shall mean American Securities Capital Partners, L.P., American Securities Capital Partners L.L.C. and any investment fund managed by either of them. 
 Section 8.06 Rights and Obligations of Transferees. Any Transferee of Membership Units (including Affiliates of the transferor) shall be
required, at the time of and as a condition to such Transfer, to become a party to this Agreement by executing and delivering such documents as may be necessary, in the reasonable opinion of the Managing Member, to make such Person a party thereto,
whereupon such Transferee will be treated as a Member for all purposes of this Agreement (and will be subject to all the rights and obligations of the transferor in relation to Transferred Membership Units). Notwithstanding anything to the contrary
herein, the rights of any Investor Member under Section 3.04 to select directors shall not be transferable (including to their respective Affiliates). 
 Section 8.07 Registration Rights. (a) The Members hereby acknowledge that the Company has entered into the Stockholders Agreement pursuant to which the Company has been granted certain demand and
“piggyback” registration rights in respect of certain securities of CAC held by the Company and that such rights (and the rights described in this Section 8.07) are subject to, qualified by, and exercisable solely in accordance with,
the terms and conditions of the Stockholders Agreement. The Company shall not consent to the revision, amendment or alteration of the Stockholders Agreement in a manner that would have a material adverse effect on the rights of an Investor Member or
Trimaran without the consent of such Member. 
 (b) Following the later of (i) 270 days following the completion of an IPO and
(ii) the time at which CAC becomes eligible to register securities using a Form S-3 (or any successor form thereto), an Investor Member holding 15% or more of the outstanding Membership Units (a “Demand Investor”) shall have
the right to cause the Company to exercise one (1) of the Company’s Short-Form Demand Rights to require the registration by CAC of up to a number of shares of common stock of CAC (the “Registrable Shares”) then held by the
Company representing that portion of such Demand Investor Member’s proportionate interest in the Company attributable to such Registrable Shares (an “Investor Demand”). For purposes of this Agreement, a “Short Form
Demand Right” means the right of the Company, pursuant to the terms and conditions of the Stockholders Agreement, to require the Company to register any of the Company’s Registrable Shares on Form S-3 or any similar short-form
registration statement if the Company qualifies to use such short form. 
  

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 (c) Notwithstanding anything to the contrary herein, Investor Demand rights shall be subject to the
following limitations: 
 (i) the Company, in its sole discretion, shall have the right to delay any Investor Demand for a
period of no more than nine (9) months from the date an Investor Demand is requested (which period shall be inclusive of, and not in addition to, any registration delay periods under the Stockholders Agreement); provided that the Company
may exercise each such delay right on only one occasion; 
 (ii) if the Company elects to exercise any of its demand rights
under the Stockholders Agreement on its own behalf at any time, it shall have the right to preempt any demand request it receives from Investor, by delivery of written notice to the applicable Demand Investor within thirty (30) Business Days of
its receipt of the Demand Investor’s demand request, in which case Demand Investor shall not be deemed to have exercised an Investor Demand right; 
 (iii) the aggregate public offering price of the Registrable Shares subject to an Investor Demand, as the case may be, shall be equal to at least $15.0 million; and 
 (iv) an underwriter selected by the applicable Demand Investor shall advise the Company on the maximum number of Registrable Shares that
may be sold pursuant to the applicable Investor Demand, such advice to be based on such underwriter’s determination of whether such sale would have a negative impact on the market for the shares of Company, and if the Managing Member concurs
with such advice (such concurrence not to be unreasonably withheld), the applicable Demand Investor shall be permitted to exercise such Investor Demand right in an amount not to exceed such maximum number of Registrable Shares. 
 (d) The Company shall distribute the proceeds (net of any expenses incurred by the Company in respect of such registration) of the sale of any
Registrable Shares that are the subject of an Investor Demand to the applicable Demand Investor who exercised the Investor Demand and any other participating Members, and shall cancel on its books the corresponding membership interests in the
Company held by such Demand Investor and any other participating Members, and thereupon all of such Demand Investors’ and any other participating Members’ rights in and to such membership interests shall terminate. 
 (e) A Demand Investor may withdraw an Investor Demand at any time after its delivery of the Investor Demand Notice thereof. Upon receipt of a notice of
withdrawal from the Demand Investor, the Company shall, and shall cause CAC to, cease all efforts to secure effectiveness of the applicable registration statement, in which case the applicable Demand Investor shall be deemed to have exercised such
Investor Demand right, except if the withdrawal is made following a delay by the Company pursuant to Section 8.07(c)(i). 
  

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 (f) Notwithstanding anything to the contrary herein, in the event Demand Investor exercises any Investor
Demand rights in accordance with the provisions of this Section 8.07 or any Member exercises its rights under Section 8.07(g) below, the Managing Member shall (i) cause the Company to issue to such Members additional classes of
membership interests in the Company and (ii) amend the terms of this Agreement (including Article V hereof), in each case in order to reflect the proportionate economic interest of each such Member in the Company following the exercise of such
rights; provided that no such amendments or issuances shall have an adverse economic effect on a Member. 
 (g) If the Company does
not elect to exercise its “piggyback” registration rights in connection with any registered offering by CAC or in the event of a “demand” registration initiated by the Company, each Member shall have the right to cause the
Company, pursuant to such registration rights, to request the inclusion by CAC in such registration of up to a number of securities of CAC then held by the Company representing that portion of such Member’s proportionate interest in the Company
attributable to such securities. The Company shall distribute the proceeds (net of any expenses incurred by the Company in respect of such registration) of the sale of any securities that are included in such registration to such Member, and shall
cancel on its books the corresponding membership interests held by such Member, and thereupon all of such Member’s rights in and to such membership interests shall terminate. 
 ARTICLE IX 
 COMPANY EXPENSES, BOOKS AND RECORDS, 
 TAX MATTERS 
 Section 9.01
Fees and Expenses. Subject to Section 8.01(e), the Managing Member shall cause the Company or a subsidiary thereof as determined by the Managing Member to pay all reasonable expenses incurred in connection with the formation of the
Company, this Agreement and the Company’s investments in the securities of CAC. Appropriate reserves for contingent liabilities may be withheld from distribution to the Members, as determined by the Managing Member in its sole discretion.

 Section 9.02 Fiscal Year and Method of Accounting. The fiscal year of the Company shall begin on January 1 of each year
(except for the first fiscal year of the Company, which shall begin on the date upon which the Certificate of Formation was filed) and end on the following December 31 (except for the last fiscal year of the Company, which shall end on the date
on which the Company is terminated). The Managing Member shall select the appropriate method of accounting for the Company. 
  

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 Section 9.03 Records and Information. The books and records of the Company shall be
maintained at the principal office and place of business of the Company. 
 Section 9.04 Financial Statements and Reports. The
Managing Member shall oversee the accounting, tax and recordkeeping matters of the Company. The Managing Member (i) shall provide to each Investor Member quarterly and annual financial statements of the Company (in the case of annual financial
statements, audited by an independent public accountant in accordance with U.S. generally accepted accounting principles) and (ii) shall use reasonable best efforts to cause CAC to provide to each Investor Member El Pollo Loco, Inc.’s
monthly reporting package, in each case to the same extent as to any Trimaran Vehicle (solely in its capacity as a Member hereof), provided that no CAC financial statements or monthly reporting package shall be provided to any Investor Member
pursuant to the terms hereof so long as such Investor Member has designated at least one director to serve on the CAC Board under the terms of Section 3.04 (it being understood and agreed that the Persons to be designated by an Investor Member
as Non-Trimaran Directors pursuant to Section 3.04 hereof shall have the right as Non-Trimaran Directors to receive information and reports of CAC to the extent provided by Delaware law and, subject to any confidentiality obligations, shall
have the right to share such information and reports with the applicable Investor Member). The Managing Member shall cause each Member to receive, within a reasonable time after the close of each fiscal year and fiscal quarter, the unaudited
financial statements of the Company for such period. The Managing Member shall also provide Members with notice of (i) any major acquisitions, dispositions or other major transactions that the Managing Member deems material to the Company and
(ii) any event that requires notice to be given to the Company under the Stockholders Agreement. 
 Section 9.05 U.S. Tax
Classification. (a) The Company shall be classified as a partnership for U.S. federal income tax purposes. Neither the Company nor any Member shall take any action so as to cause the Company to be treated as an association taxable as a
corporation for U.S. federal income tax purposes. 
 (b) The Managing Member shall use reasonable efforts not to take any action that could
cause any Member (i) to be treated as engaged in a trade or business within the United States for U.S. federal income tax purposes as a result of such Member’s investment in the Company; or (ii) to have any tax filing obligations in
any non-U.S. jurisdiction, other than any non-U.S. jurisdiction under the laws of which such Member is organized. The Company shall use commercially reasonable efforts not to undertake activities that would cause any Member to realize
“unrelated business taxable income” within the meaning of Section 512 of the Code solely as a result of such activities. 
 (c) The Managing Member shall cause the Company to provide each Member with such information as is necessary for such Member to meet its U.S. tax filing obligations. 
 (d) The Company shall separately identify each block of Newly Issued Securities or Other Securities it acquires so as to keep the holding period of such
Newly Issued Securities or Other Securities distinct from each other block of securities for federal income tax purposes. 
  

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 Section 9.06 Tax Matters Member. Pursuant to Section 6231(a)(7) of the Code, the
Managing Member is hereby designated as the tax matters member, and shall assume and be responsible for duties provided in the Code for the “tax matters partner.” 
 ARTICLE X 
 LIABILITY, INDEMNIFICATION AND CONTRIBUTION 

Section 10.01 Liability of Members. (a) Liability to the Company and Other Members. No Member (or any of its Affiliates), or
any direct or indirect partner, member, shareholder, employee, director, officer or agent of such Member or any of its Affiliates (each, an “Indemnified Person”) shall be liable, responsible or accountable in damages or otherwise to
the Company or to any of the other Members, their successors or assigns except (i) in connection with any breach of this Agreement by such Member or (ii) by reason of acts or omissions related to the Company which are found by a court of
competent jurisdiction upon entry of a final and non-appealable judgment to be the result of such Indemnified Person’s fraud, gross negligence or willful misconduct. 
 (b) Liability to Third Parties. No Member of the Company shall be liable under a judgment, decree, or order of a court, or in any other manner, for a debt, obligation, or liability of the Company or of any
other Member. 
 Section 10.02 Indemnification. To the fullest extent permitted by law, the Company shall indemnify, defend and
hold harmless each Indemnified Person from and against any loss, liability, damages, cost or expense (including legal fees and expenses and any amounts paid in settlement) resulting from a claim, demand, lawsuit, action or proceeding by reason of
any act or omission performed or omitted by such Indemnified Person on behalf of the Company and in a manner reasonably believed to be within the scope of the authority conferred on such Indemnified Person by this Agreement; provided that
such acts or omissions of such Indemnified Person are not found by a court of competent jurisdiction upon entry of a final and non-appealable judgment to constitute fraud, gross negligence or willful misconduct. Expenses, including legal fees,
incurred by an Indemnified Person and relating to any claim, demand, lawsuit, action or proceeding for which indemnification may be sought under this Section 10.02 shall be paid by the Company upon demand by the Indemnified Person;
provided that the Indemnified Person shall reimburse the Company for such expenses if it is ultimately determined that such Indemnified Person is not entitled to indemnification hereunder. Notwithstanding the foregoing, the provisions of this
Section 10.02 shall terminate upon a dissolution of the Company in accordance with Section 11.01; provided, however, that any claims in respect of actions or omissions occurring prior to the dissolution of the Company shall survive such
dissolution. 
  

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 Section 10.03 Exclusivity. The remedies provided for in this Article X are not exclusive and
shall not limit any rights or remedies that may otherwise be available to any Indemnified Person at law or in equity. 
 Section 10.04
Fiduciary Duty. Notwithstanding any other provision of this Agreement, to the fullest extent permitted by Section 1101(c) of the Act, no Covered Person shall owe any duties at law or in equity (including fiduciary duties) to any other
Covered Person other than any duties and obligations expressly set forth in this Agreement. The provisions of this Agreement, to the extent that they restrict the duties and liabilities of a Covered Person otherwise existing at law or in equity, are
agreed by the Members to replace such other duties and liabilities of such Covered Person. A Covered Person acting under this Agreement shall not be liable to the Company or to any other Covered Person for its good faith reliance on the provisions
of this Agreement. Nothing in this Article 10.04 shall eliminate any implied covenant of good faith and fair dealing between Covered Persons. 
 ARTICLE XI 
 DISSOLUTION, LIQUIDATION AND TERMINATION 
 Section 11.01 Dissolution. (a) The Company shall be dissolved and its affairs shall be wound up upon the first of the following to
occur: 
 (i) a determination by the Managing Member to dissolve the Company; 
 (ii) any dissolution required by operation of law; or 
 (iii) upon the sixth anniversary of an IPO. 
 (b) Dissolution of the Company shall be effective as of the day on which the event occurs giving rise to the dissolution, but the Company shall not terminate until there has been a winding up of the Company’s
business and affairs, and the Company’s assets have been distributed as provided in Section 11.03 and in the Act. 
 (c)
Notwithstanding any other provision of this Agreement, the bankruptcy of a Member shall not cause such Member to cease to be a Member of the Company and despite the occurrence of such an event, the business of the Company shall continue without
dissolution. 
 (d) Notwithstanding any other provision of this Agreement, each Member waives any right it might have under the Act or
otherwise to (i) agree in writing to dissolve the 
  

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 Company upon such Member’s bankruptcy, or upon the occurrence of an event that causes such Member to cease to be a
member of the Company, and (ii) apply for judicial dissolution of the Company. 
 Section 11.02 Cancellation of Certificate.
Upon the dissolution and completion of the winding up of the Company and the termination of this Agreement, the Certificate of Formation shall be canceled in accordance with the provisions of Section 18-203 of the Act and the Members shall be
promptly notified of such dissolution. 
 Section 11.03 Liquidation. Upon dissolution of the Company, as expeditiously as is
reasonable, the Managing Member shall cause the Company to pay its liabilities and make distributions in the following order of priority: 
 (a) to creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of liabilities of the Company (whether by payment or by establishment of reserves); and 
 (b) to the Members, pro rata in accordance with their respective Membership Units. 
 Section 11.04 Accounting on Liquidation. Upon liquidation, a proper accounting shall be made by the Company’s accountants of the
Company’s assets, liabilities and results of operations through the last day of the month in which the Company is terminated. 
 Section 11.05 Return of Members’ Capital Contribution. A Member shall look solely to the Company’s assets for the return of such Member’s Capital Contribution. If the assets remaining after payment or discharge of
all debts and liabilities of the Company are insufficient to return such Member’s Capital Contribution, the Member shall have no recourse against any other Member except to the extent of any required Capital Contribution of any other Member
which has not been paid when due. 
 Section 11.06 Termination. (a) This Agreement shall terminate, and the Company shall be
dissolved, upon the earlier to occur of (i) six (6) years following an IPO and (ii) such time as the distributions provided for in Section 11.03 have been made (the “Termination Date”). 
 (b) Upon the termination of this Agreement, no party shall have any liability or obligation to any other party hereunder, provided that
(i) the termination of this Agreement shall not relieve a party from liability for any breach of this Agreement on or prior to the Termination Date, and (ii) Article X shall survive termination of this Agreement in accordance with its
terms. 
  

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 ARTICLE XII 
 REPRESENTATIONS AND WARRANTIES 
 Section 12.01 Member Representations. Each Member
hereby represents and warrants to the Company as follows: 
 (a) If the Member is a corporation, partnership, limited liability company,
trust, estate or other entity, the Member is empowered, authorized and qualified to become a Member subject to the terms and conditions of this Agreement, and the person signing this Agreement on behalf of the Member has been duly authorized by the
Member to do so; 
 (b) If the Member is an individual, the Member is of legal age to execute this Agreement and is legally competent to do
so; 
 (c) This Agreement has been duly authorized, executed and delivered by the Member and, upon due authorization, execution and delivery
by the other parties hereto, will constitute the valid and legally binding agreement of the Member, enforceable in accordance with its terms against the Member; 
 (d) The execution, delivery and performance of this Agreement by the Member does not and will not result in a breach of any of the terms, conditions or provisions of, or constitute a default under, any indenture,
mortgage, deed of trust, credit agreement, note or other evidence of indebtedness, or any lease or other agreement, or any license, permit, franchise or certificate, to which the Member is a party or by which it is bound or to which any of its
properties are subject, or require any authorization or approval under or pursuant to any of the foregoing, or violate the organizational documents of the Member, or violate in any material respect any statute, regulation, law, order, writ,
injunction or decree to which the Member is subject; 
 (e) (i) The Member understands that the offering and sale of the Membership
Units are intended to be exempt from registration under the Securities Act and applicable U.S. state securities laws in reliance on the private placement exemption from registration provided in Section 4(2) of the Securities Act and Regulation
D promulgated thereunder and exemptions under applicable U.S. state securities laws and, in the case of persons that are not U.S. persons, in reliance on exemptions under the applicable laws of the non-U.S. jurisdiction in which the Membership Units
are being offered and sold, and the Member agrees that it shall not engage in any Transfer of the Membership Units it acquires in any manner that would require the registration of the Membership Units under the Securities Act or under the laws of
any non-U.S. jurisdictions. 
  

 37 

 (ii) The Member is an “accredited investor” within the meaning of Regulation D
of the Securities Act. 
 (iii) Each Member (A) directly or indirectly, is acquiring the Membership Units in compliance
with all applicable laws, rules, regulations and other legal requirements including, without limitation, the legal requirements of jurisdictions in which such Member is resident and in which such acquisition is being consummated, and (B) has
consulted with legal counsel and financial, accounting, regulatory and tax advisors, as necessary, to ensure it is eligible to, directly or indirectly, acquire all or any part of the Membership Units. 
 (f) The Member understands that the Company has not been registered as an investment company under the Investment Company Act in reliance upon an
exemption from such registration, it agrees that any Membership Units acquired by such Member may not be sold, offered for sale, Transferred, pledged, hypothecated or otherwise disposed of in any manner that would require the Company to register as
an investment company under the Investment Company Act, and it represents and warrants that it is a “qualified purchaser” as defined in Section 2(a)(51)(A) of the Investment Company Act (a “Qualified Purchaser”);

 (g) If the Member would be an “investment company” but for the exclusions from the Investment Company Act provided by
Section 3(c)(1) or Section 3(c)(7) thereof, all direct and indirect beneficial owners of such Member’s outstanding securities (as such term is defined in the Investment Company Act) that acquired such securities on or before
April 30, 1996 have consented to such Member’s treatment as a Qualified Purchaser; 
 (h) The Member agrees to deliver to the
Managing Member such information as to certain matters under the Securities Act and the Investment Company Act as the Managing Member may reasonably request in order to ensure compliance with such Acts and the availability of any exemptions
thereunder; 
 (i) The Member is acquiring Membership Units for the Member’s own account as principal for investment and not with a view
to the distribution or sale thereof; 
 (j) The Member has such knowledge and experience in financial and business matters that it is capable
of evaluating the merits and risks of its investment in the Membership Units; 
 (k) The Member has been given the opportunity to ask
questions of, and receive answers from, the Company concerning the terms and conditions of, and other matters pertaining to, this investment, and has had access to such financial and other information concerning the Company as it has considered
necessary to make a decision to invest in the Company and has availed itself of this opportunity to the full extent desired; 
  

 38 

 (l) The Member has no need for liquidity in this investment, has the ability to bear the economic risk of
this investment, and at the present time and in the foreseeable future can afford a complete loss of this investment; 
 (m) The Member
acknowledges that neither the Company, the Managing Member nor any Affiliate thereof has rendered any investment advice or securities valuation advice to Member, and that the Member is neither subscribing for nor acquiring any interest in the
Company in reliance upon, or with the expectation of, any such advice, or in reliance upon any materials prepared by the Managing Member or any of its Affiliates; 
 (n) No representations or warranties have been made to the Member with respect to the investment in the Membership Units or the Company other than the representations set forth herein, and the Member has not relied
upon any representation or warranty not provided herein in making its investment in the Company; 
 (o) If the Member is a corporation,
partnership, limited liability company, trust or other entity, it was not formed or recapitalized for the specific purpose of acquiring the Membership Units; 
 (p) Either (i) none of the funds that Member is using or will use to fund its purchase are assets of an employee benefit plan as defined in Section 3(3) of ERISA, subject to Title I of ERISA, or a plan
described in Section 4975(e)(1) of the Code, or an entity whose underlying assets include plan assets for purposes of ERISA by reason of a plan’s investment in the entity (any such plan under ERISA or the Code or any such entity
collectively referred to as a “Plan”) or (ii)(x) some or all of the funds that the Member is using or will use to fund its purchase are assets of one or more Plans and (y) assuming that the Company is not a “party in
interest” (within the meaning of Section 3(14) of ERISA) or a “disqualified person” (within the meaning of Section 4975 of the Code) with respect to any Plan other than those Plans previously identified by the Company to the
Member in writing, the purchase of the Membership Units by the Member does not and will not constitute or result in a non-exempt “prohibited transaction” within the meaning of Section 406 of ERISA or Section 4975(c) of the Code;
and 
 (q) The Member acknowledges that the Company has relied and will rely upon the representations and warranties of the Member set forth
in this Agreement and that all such representations and warranties shall survive the date of signing of this Agreement. Without limiting the foregoing, each Member agrees to give the Company prompt written notice in the event that any representation
of such Member contained in this Section 12.01 ceases to be true at any time following the Closing Date. 
  

 39 

 Section 12.02 Company Representation. Prior to the date hereof, the Company has not engaged
in any business activities, conducted any operations or incurred any liabilities, in each case other than in connection with its formation or the transactions contemplated by the Purchase Agreement. 
 ARTICLE XIII 
 MISCELLANEOUS
PROVISIONS 
 Section 13.01 Notices. Unless otherwise specified herein, all notices, consents, approvals, reports,
designations, requests, waivers, elections and other communications authorized or required to be given pursuant to this Agreement shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by
personal hand-delivery, by facsimile transmission, by electronic mail, by mailing the same in a sealed envelope, registered first-class mail, postage prepaid, return receipt requested, or by air courier guaranteeing overnight delivery, sent to the
Member at the address given for such Member on Schedule A hereto or such other address as such Member may specify by notice to the Company. Any notice, request, or consent to the Company must be sent to the following address: 
 Trimaran Pollo Partners, L.L.C. 
 c/o
Trimaran Fund Management, L.L.C. 
 622 3rd Avenue, 35th Floor 
 New York, New York 10017 
 Attention: Steven
A. Flyer 
 Telephone: 212-885-4735 
 Fax: 212-885-4350 
 Section 13.02 Entire Agreement. This Agreement embodies the entire agreement and understanding of
the parties and supersedes all prior agreements and understandings between the parties with respect to the subject matter hereof, including any letter agreement entered into between the Managing Member (or any of its Affiliates) and any other Member
prior to the Closing Date. 
 Section 13.03 Confidentiality. (a) No Member shall disclose any material term of this
Agreement to any third party without the written consent of the other Members, except (a) as required by applicable law, (b) to any Affiliate of such Member, (c) to the holders of any equity interests in such Member or its direct
parent, or (d) to the legal, accounting, financial or other representatives of such Member (collectively, “Representatives”). Notwithstanding the foregoing, prior to any disclosure to the Persons set forth in clauses (a) through
(d) of the preceding sentence, such Persons must agree to keep any such disclosure confidential. 
 (b) Each Member agrees that it shall
not disclose to any third party, and shall cause its Affiliates and Representatives not to disclose to any third party, any Confidential Information 
  

 40 

 without the prior written consent of the Managing Member, and each Member shall use due care to ensure that any such
Confidential Information received by it is kept confidential. As used herein, “Confidential Information” means all information relating to the Company or any of its Subsidiaries, from whatever source obtained, except for any such
information which at the time of disclosure was in the public domain or otherwise in the possession of the disclosing Person unless such information was placed into the public domain or became known to such disclosing person in violation of any
non-disclosure obligation, including, without limitation, this Section 13.03. Nothing in this Section 13.03 shall prohibit any Member or its Representatives from disclosing Confidential Information (i) as required by applicable law or
legal process (subject to compliance with Section 13.03(c)), (ii) to any Affiliate of such Member, (iii) to the holders of any equity interests in such Member or its direct parent, (iv) to the Representatives of such Member or
(v) to one or more Persons in connection with a proposed sale of such Member’s interests in the Company in accordance with this Agreement. Notwithstanding the foregoing, prior to any disclosure to the Persons set forth in clauses
(i) through (v) of the preceding sentence, any such Persons must agree to keep any such information disclosed confidential. 
 (c)
In the event that a Member or any of its Affiliates or Representatives is required by law or legal process to disclose any Confidential Information or to make any other disclosure prohibited by this Section 13.03, it shall provide the Company
with prompt notice of each such requirement, to the extent practicable, so that Company may seek an appropriate protective order or waive compliance with the provisions of this Agreement or both. If, absent the entry of a protective order or the
receipt of a waiver under this Agreement, a Member or its Affiliates or Representatives are, after consultation with counsel, legally compelled to disclose Confidential Information, then such Member or its Affiliates or Representatives, as
applicable, may disclose such Confidential Information to the extent legally required and agree to exercise reasonable commercial efforts to obtain assurance that confidential treatment will be accorded any Confidential Information so disclosed.

 Section 13.04 Amendments. The terms and provisions of this Agreement may not be modified or amended at any time without the
prior written consent of Trimaran and each Investor Member (other than amendments made in accordance with Sections 4.02, 7.02(d) and 8.07(f) hereof). 
 Section 13.05 Governing Law; Jurisdiction. THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
ANY ACTION OR PROCEEDING AGAINST THE PARTIES RELATING IN ANY WAY TO THIS AGREEMENT MAY BE BROUGHT AND ENFORCED EXCLUSIVELY IN THE COURTS OF THE STATE OF DELAWARE OR (TO THE EXTENT SUBJECT MATTER JURISDICTION EXISTS THEREFOR) THE U.S. DISTRICT COURT
FOR THE DISTRICT OF DELAWARE, AND THE PARTIES IRREVOCABLY SUBMIT TO THE JURISDICTION OF BOTH SUCH COURTS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING. 
  

 41 

 Section 13.06 Severability. If any provision of this Agreement shall be held to be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 13.07 Further Assurances. In connection with this Agreement and the transactions contemplated hereby, each Member shall execute and deliver any additional documents and instruments and perform any
additional acts that the Managing Member determines to be necessary or appropriate to effectuate and perform the provisions of this Agreement and those transactions. 
 Section 13.08 Binding Effect. Except as otherwise provided in this Agreement to the contrary, this Agreement shall be binding upon and inure to the benefit of the Members, their distributees, heirs, legal
representatives, executors, administrators, successors and permitted assigns. 
 Section 13.09 Waivers. No waiver of any breach
of any of the terms of this Agreement shall be effective unless such waiver is made expressly in writing and executed and delivered by the party against whom such waiver is claimed. No waiver of any breach shall be deemed to be a further or
continuing waiver of such breach or a waiver of any other or subsequent breach. Except as otherwise expressly provided herein, no failure on the part of any party to exercise, and no delay in exercising, any right, power or remedy hereunder, or
otherwise available in respect hereof at law or in equity, shall operate as a waiver thereof, nor shall any single or partial exercise of such right, power or remedy by such party preclude any other or further exercise thereof, or the exercise of
any other right, power or remedy 
 Section 13.10 Conflicts of Interest. Subject to the other express provisions of this
Agreement or except as otherwise expressly agreed in writing, each Member and officer of the Company at any time and from time to time may engage in and possess interests in other business ventures of any and every type and description,
independently or with others, including ones in competition with the Company, with no obligation to offer to the Company or any other Member or officer the right to participate therein. Other than transactions contemplated by this Agreement, the
Management and Monitoring Agreement, the Stockholders Agreement or any financing arrangements related to the Company’s investments in CAC, neither CAC (nor any of its Affiliates) shall enter into any transaction with the Managing Member (or any
of its Affiliates) unless the terms of such transaction are no less favorable to CAC or its Affiliates, as the case may be, than could be obtained from a third party at arm’s length. 
 Section 13.11 Third Parties. Except as provided in Article X, this Agreement does not create any rights, claims or benefits inuring to any
Person that is not a party hereto, and it does not create or establish any third party beneficiary hereto. 
  

 42 

 Section 13.12 Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be deemed to be an original and shall be binding upon the Member who executed the same, but all of such counterparts shall constitute the same Agreement. 
 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 
  

 43 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the day and year first above
written. 
  

			
	THE COMPANY
	
	TRIMARAN POLLO PARTNERS, L.L.C.
		
	By:	 	 TRIMARAN CAPITAL, L.L.C., as
 Managing
Member

		
		 	 By: Trimaran Fund Management,
 L.L.C., its investment
manager

		
	By:	 	 /S/    STEVEN A. FLYER
  

	Name:	 	 STEVEN A. FLYER

	Title:	 	Managing Director
	
	MANAGING MEMBER
		
		 	TRIMARAN CAPITAL, L.L.C.
		
		 	 By: Trimaran Fund Management,
 L.L.C., its investment
manager

		
	By:	 	 /S/    STEVEN A. FLYER
  

	Name:	 	Steven A. Flyer
	Title:	 	Managing Director
	
	OTHER MEMBERS
	
	TRIMARAN FUND II, L.L.C.
		
		 	 By: Trimaran Fund Management,
 L.L.C., its investment
manager

		
	By:	 	 /S/    STEVEN A. FLYER
  

	Name:	 	Steven A. Flyer
	Title:	 	Managing Director

			
	TRIMARAN PARALLEL FUND II, L.P.
		
		 	 By: Trimaran Fund Management,
 L.L.C., its investment
manager

		
	By:	 	 /S/    STEVEN A. FLYER
  

	Name:	 	Steven A. Flyer
	Title:	 	Managing Director
	
	CIBC EMPLOYEE PRIVATE EQUITY FUND (TRIMARAN) PARTNERS
		
		 	 By: Trimaran Fund Management,
 L.L.C., its investment
manager

		
	By:	 	 /S/    STEVEN A. FLYER
  

	Name:	 	Steven A. Flyer
	Title:	 	Managing Director
	
	CIBC CAPITAL CORPORATION
		
		 	 By: Trimaran Fund Management,
 L.L.C., its investment
manager

		
	By:	 	 /S/    STEVEN A. FLYER
  

	Name:	 	Steven A. Flyer
	Title:	 	Managing Director

			
	 ASP EPL L.L.C.

		
	 By:
	 	 /S/    ERIC SCHONDORF
  

	 Name:
	 	Eric Schondorf
	 Title:
	 	

			
	 CONTINENTAL CASUALTY COMPANY

		
	 By:
	 	 /S/    MARILOU R.
MCGIRR
  

	 Name:
	 	Marilou R. McGirr
	 Title:
	 	Vice President and Assistant Treasurer

			
	MULTI-STRATEGY HOLDINGS, L.P.
	
	 By: Multi-Strategy Holdings Offshore
 Advisors, Inc., its General Partner

		
	By:	 	 /S/    JENNIFER BARBETTA
  

	Name:	 	Jennifer Barbetta
	Title:	 	Authorized Signatory
	
	VF III HOLDINGS, L.P.
	
	 By: VF III Holdings Offshore Advisors, Inc.,
 its General Partner

		
	By:	 	 /S/    JENNIFER BARBETTA
  

	Name:	 	Jennifer Barbetta
	Title:	 	Authorized Signatory

			
	 BRODY 2005 LLC

		
	 By:
	 	 /S/    HOWARD KAYE
  

	 Name:
	 	Howard Kaye
	 Title:
	 	Managing Member

			
	ZG INVESTMENTS III LTD.
		
	By:	 	 /S/    MICHAEL DEEVY
  

	Name:	 	Michael Deevy
	Title:	 	Vice President
		
	By:	 	 /S/    MICHAEL GUTTERIDGE
  

	Name:	 	Michael Gutteridge
	Title:	 	Assistant Controller

			
	FEA III L.P.
		
	 By:
	 	 Feinstein Eisenberg Associates LLC
 General Partner

		
	 By:
	 	 /S/    WARREN EISENBERG
  

	Name:	 	Warren Eisenberg
	Title:	 	Managing Partner

			
	 EPL CORPORATION

		
	 By:
	 	 /S/    MICHAEL SCHARF
  

	 Name:
	 	Michael Scharf
	 Title:
	 	

 SCHEDULE A 
 NAMES AND ADDRESSES OF MEMBERS 
  

			
	 Name
	  	 Address

	ASP EPL L.L.C.	  	 c/o American Securities Capital Partners, L.P.
 666
Third Avenue, 29th Floor
 New York, New York 10017
 Attention: Glenn Kaufman
 Telephone: 212-476-8000
 Fax: 212-697-5524

		
	Continental Casualty Company	  	 Mike Hass
 CNA
 333 South Wabash Avenue, 23 South
 Chicago, Illinois 60604
 Attention: Michael Hass
 Telephone: 312-822-6592

		
	Multi-Strategy Holdings, L.P.	  	 Multi-Strategy Holdings, L.P.
 32 Old Slip,
37th Floor
 New York,
New York 10005
 Attn: Kane Brennan
 Telephone:
212-855-9851
 Fax: 212-493-0187

		
	VF III Holdings, L.P.	  	 VF III Holdings, L.P.
 32 Old Slip, 37th Floor
 New York, New York
10005
 Attn: Kane Brennan
 Telephone: 212-855-9851
 Fax: 212-493-0187

		
	Trimaran Capital, L.L.C.	  	 c/o Trimaran Fund Management, L.L.C.
 622 3rd Avenue, 35th Floor
 New York, New York 10017
 Attention: Steven A. Flyer
 Telephone: 212-885-4735
 Fax: 212-885-4350

		
	Trimaran Fund II, L.L.C.	  	 c/o Trimaran Fund Management, L.L.C.
 622 3rd Avenue, 35th Floor
 New York, New York 10017
 Attention: Steven A. Flyer
 Telephone: 212-885-4735
 Fax: 212-885-4350

  

 Schedule-A-1 

			
	Trimaran Parallel Fund II, L.P.	 	 c/o Trimaran Fund Management, L.L.C.
 622
3rd Avenue, 35th Floor
 New York, New York 10017
 Attention: Steven A. Flyer
 Telephone: 212-885-4735
 Fax: 212-885-4350

		
	 CIBC Employee Private Equity Fund
 (Trimaran)
Partners
	 	 c/o Trimaran Fund Management, L.L.C.
 622 3rd Avenue, 35th Floor
 New York, New York 10017
 Attention: Steven A. Flyer
 Telephone: 212-885-4735
 Fax: 212-885-4350

		
	CIBC Capital Corporation	 	 c/o Trimaran Fund Management, L.L.C.
 622 3rd Avenue, 35th Floor
 New York, New York 10017
 Attention: Steven A. Flyer
 Telephone: 212-885-4735
 Fax: 212-885-4350

		
	Brody 2005 LLC	 	 c/o Hub International
 1065 Avenue of the
Americas
 New York, New York 10018
 Attention: Howard
Kaye
 Telephone: 212-338-2263
 Fax:
212-354-0894

		
	FEA III L.P.	 	 c/o Rockdale Capital
 650 Liberty Avenue
 Union, NJ 07083
 Attention: Linda Kao
 Telephone: 908-688-4815

		
	EPL Corporation	 	 c/o Niagara Corporation
 667 Madison Avenue
 11th Floor
 New York, New York 10021
 Attention: Michael Scharf
 Telephone: 212-317-1000
 Fax: 212-317-1001

  

 Schedule-A-2 

			
	ZG Investments III Ltd.	 	 Courier Address
 Wellesley House,
 90 Pitt’s Bay Road,
 Pembroke HM 08,
 BERMUDA
  
 Mailing Address
 P.O. Box HM 2268,
 Hamilton HM
JX,
 BERMUDA
  
 Telephone: 1-441-294-2400
 Fax: 1-441-294-2401
 Attention: Mike Deevy
  
 With a copy to:
  
 Centre Group Holdings (US) Limited
 105 East 17th Street
 New York, NY 10003
 Attention: General Counsel
 Tel: 212-859-2714
 Fax:
212-859-2790

  

 Schedule-A-3 

 SCHEDULE B 
 [CAPITAL CONTRIBUTIONS AND 
 MEMBERSHIP UNITS] 
  

 Schedule-B 

 SCHEDULE C 
 INVESTOR MEMBERS 
  

			
	 Name
	 	 Address

		
	 ASP EPL L.L.C.
	 	 c/o American Securities Capital Partners, L.P.
 666 Third Avenue, 29th Floor
 New York, New York 10017
 Attention: Glenn Kaufman
 Telephone: 212-476-8000
 Fax: 212-697-5524

		
	 Continental Casualty Company
	 	 Mike Hass
 CNA
 333 South Wabash Avenue, 23 South
 Chicago, Illinois 60604
 Attention: Michael Hass
 Telephone: 312-822-6592

		
	 Multi-Strategy Holdings, L.P.
	 	 Multi-Strategy Holdings, L.P.
 32 Old Slip, 37th Floor
 New York, New York 10005
 Attn: Kane Brennan
 Telephone: 212-855-9851
 Fax: 212-493-0187

		
	 VF III Holdings, L.P.
	 	 VF III Holdings, L.P.
 32 Old Slip, 37th Floor
 New York, New York 10005
 Attn: Kane Brennan
 Telephone: 212-855-9851
 Fax: 212-493-0187

		
	 Brody 2005 LLC
	 	 c/o Hub International
 1065 Avenue of the Americas
 New York, New York 10018
 Attention: Howard Kaye
 Telephone: 212-338-2263
 Fax: 212-354-0894

		
	 FEA III L.P.
	 	 c/o Rockdale Capital
 650 Liberty Avenue
 Union, NJ 07083
 Attention: Linda Kao
 Telephone: 908-688-4815

  

 Schedule-C 

			
	EPL Corporation	 	 c/o Niagara Corporation
 667 Madison Avenue

11th Floor
 New York, New York 10021
 Attention: Michael Scharf
 Telephone: 212-317-1000
 Fax: 212-317-1001

		
	ZG Investments III Ltd.	 	 Courier Address
 Wellesley House,
 90 Pitt’s Bay Road,
 Pembroke HM 08,
 BERMUDA
  
 Mailing Address
 P.O. Box HM 2268,
 Hamilton HM
JX,
 BERMUDA
  
 Telephone: 1-441-294-2400
 Fax: 1-441-294-2401
 Attention: Mike Deevy
  
 With a copy to:
  
 Centre Group Holdings (US) Limited
 105 East 17th Street
 New York, NY 10003
 Attention: General Counsel
 Tel: 212-859-2714
 Fax:
212-859-2790

  

 Schedule-C 

 SCHEDULE D 
 MATERIAL SUBSIDIARIES 
 El Pollo Loco, Inc. 

 Schedule-DIndenture dated as of August 11, 2005

 Exhibit 4.1 
  

  
 RAINIER ACQUISITION CORP. 
  
 Company

  
 and 
  
 U.S. BANK NATIONAL ASSOCIATION 
  
 Trustee 
  

  
 Indenture 
  
 Dated as of August 11, 2005

  

  
 $150,000,000 
  
 9 1/4% Senior Subordinated Notes Due 2013

  

 RAINIER ACQUISITION CORP.* 
  
 Reconciliation and tie between Trust Indenture Act 
 of 1939 and Indenture, dated as of August 11, 2005

  

				
	 Trust Indenture
Act Section

	  	Indenture Section

	 
	 §310
	  	 	 
	 (a)(1)
	  	608	 
	 (b)
	  	605, 609	(d)
	 (b)(1)
	  	609	(d)
	 §311
	  	605	 
	 §312
	  	702	 
	 (b)
	  	702	 
	 §313
	  	102	 
	 (a)
	  	703	 
	 (b)
	  	703	 
	 (c)
	  	602, 703	 
	 §314
	  	N.A.	 
	 §315
	  	512	 
	 (a)
	  	603	 
	 (b)
	  	603	 
	 (c)
	  	603	 
	 (d)
	  	603	 
	 §316
	  	 	 
	 (c)
	  	105	(d)
	 §317
	  	N.A.	 
	 §318
	  	N.A.	 

  
 N.A. means Not
Applicable 
  

	*	This reconciliation and tie shall not, for any purpose, be deemed to be a part of this Indenture. 

  

 i 

 TABLE OF CONTENTS* 
  

					
	 	  	Page

	 ARTICLE ONE
  
 DEFINITIONS AND OTHER PROVISIONS
 OF
GENERAL APPLICATION

			
	 SECTION 101.
	  	Rules of Construction and Incorporation by Reference of Trust Indenture Act	  	1
	 SECTION 102.
	  	Definitions	  	2
	 	  	“Acquired Indebtedness”	  	2
	 	  	“Act”	  	3
	 	  	“Additional Notes”	  	3
	 	  	“Adjusted Net Assets”	  	3
	 	  	“Affiliate”	  	3
	 	  	“Affiliate Transaction”	  	3
	 	  	“Agent”	  	3
	 	  	“Applicable Premium”	  	3
	 	  	“Asset Sale”	  	3
	 	  	“Asset Sale Offer”	  	5
	 	  	“Bankruptcy Law”	  	5
	 	  	“Board of Directors”	  	5
	 	  	“Board Resolution”	  	5
	 	  	“Business Day”	  	5
	 	  	“Capital Stock”	  	5
	 	  	“Capitalized Lease Obligation”	  	5
	 	  	“Captive Insurance Subsidiary”	  	6
	 	  	“Cash Equivalents”	  	6
	 	  	“Change of Control”	  	6
	 	  	“Change of Control Offer”	  	7
	 	  	“Change of Control Payment”	  	7
	 	  	“Change of Control Payment Date”	  	7
	 	  	“Company”	  	7
	 	  	“Company Request” or “Company Order”	  	7
	 	  	“consolidated” or “Consolidated”	  	7
	 	  	“Consolidated Cash Flow”	  	7
	 	  	“Consolidated Net Income”	  	9
	 	  	“Continuing Directors”	  	10
	 	  	“Corporate Trust Office”	  	10
	 	  	“Corporation”	  	10
	 	  	“Covenant Defeasance”	  	10
	 	  	“Credit Facilities”	  	10

  

	*	This table of contents shall not, for any purpose, be deemed to be a part of this Indenture. 

  

 i 

					
	 	 	“Default”	  	11
	 	 	“Defaulted Interest”	  	11
	 	 	“Depositary”	  	11
	 	 	“Designated Noncash Consideration”	  	11
	 	 	“Designated Preferred Stock”	  	11
	 	 	“Designated Senior Debt”	  	11
	 	 	“Disqualified Stock”	  	11
	 	 	“Domestic Subsidiary”	  	12
	 	 	“Equity Interests”	  	12
	 	 	“Equity Offering”	  	12
	 	 	“Event of Default”	  	12
	 	 	“Excess Proceeds”	  	12
	 	 	“Exchange Act”	  	12
	 	 	“Exchange Notes”	  	12
	 	 	“Exchange Offer”	  	12
	 	 	“Exchange Offer Registration Statement”	  	12
	 	 	“Excluded Contribution”	  	12
	 	 	“Excluded Subsidiary”	  	13
	 	 	“Existing Indebtedness”	  	13
	 	 	“Fixed Charges”	  	14
	 	 	“Foreign Subsidiary”	  	15
	 	 	“Funding Guarantor”	  	15
	 	 	“GAAP”	  	15
	 	 	“Government Securities”	  	15
	 	 	“guarantee”	  	16
	 	 	“Guarantee”	  	16
	 	 	“Guarantors”	  	16
	 	 	“Hedging Obligations”	  	16
	 	 	“Holder”	  	16
	 	 	“incur”	  	16
	 	 	“incurrence”	  	16
	 	 	“Indebtedness”	  	16
	 	 	“Indenture”	  	17
	 	 	“Independent Financial Advisor”	  	17
	 	 	“Initial Notes”	  	17
	 	 	“Initial Purchasers”	  	17
	 	 	“Interest Payment Date”	  	17
	 	 	“Investment Grade Rating”	  	17
	 	 	“Investment Grade Securities”	  	17
	 	 	“Investments”	  	18
	 	 	“Investors”	  	18
	 	 	“Issue Date”	  	18
	 	 	“Legal Defeasance”	  	18
	 	 	“Legal Holiday”	  	18
	 	 	“Lien”	  	18
	 	 	“Management Agreement”	  	19

  

 ii 

					
	 	 	“Maturity”	  	19
	 	 	“Moody’s”	  	19
	 	 	“Net Income”	  	19
	 	 	“Net Proceeds”	  	19
	 	 	“Non-U.S. Person”	  	20
	 	 	“Note Register” and “Note Registrar”	  	20
	 	 	“Notes”	  	20
	 	 	“Obligations”	  	20
	 	 	“Offering Memorandum”	  	20
	 	 	“Officer”	  	20
	 	 	“Officers’ Certificate”	  	20
	 	 	“Opinion of Counsel”	  	20
	 	 	“Outstanding”	  	20
	 	 	“Paying Agent”	  	21
	 	 	“Permitted Holders”	  	21
	 	 	“Permitted Investments”	  	21
	 	 	“Permitted Junior Securities”	  	23
	 	 	“Permitted Liens”	  	23
	 	 	“Person”	  	24
	 	 	“Predecessor Note”	  	24
	 	 	“preferred stock”	  	24
	 	 	“Protected Purchaser”	  	24
	 	 	“Qualified Proceeds”	  	25
	 	 	“Qualified Receivables Transaction”	  	25
	 	 	“Rating Agencies”	  	25
	 	 	“Receivables”	  	25
	 	 	“Receivables Fees”	  	25
	 	 	“Receivables Subsidiary”	  	25
	 	 	“Redemption Date”	  	26
	 	 	“Redemption Price”	  	26
	 	 	“Refinancing Indebtedness”	  	26
	 	 	“Refunding Capital Stock”	  	26
	 	 	“Registration Rights Agreement”	  	26
	 	 	“Regular Record Date”	  	26
	 	 	“Related Business Assets”	  	27
	 	 	“Responsible Officer”	  	27
	 	 	“Restricted Investment”	  	27
	 	 	“Restricted Payments”	  	27
	 	 	“Restricted Subsidiary”	  	27
	 	 	“Retired Capital Stock”	  	27
	 	 	“S&P”	  	27
	 	 	“Sale and Lease-Back Transaction”	  	27
	 	 	“SEC”	  	27
	 	 	“Securities Act”	  	27
	 	 	“Senior Credit Facilities”	  	27
	 	 	“Senior Debt”	  	28

  

 iii 

					
	 	  	“Significant Subsidiary”	  	29
	 	  	“Similar Business”	  	29
	 	  	“Special Interest”	  	29
	 	  	“Special Interest Notice”	  	29
	 	  	“Special Record Date”	  	29
	 	  	“Stated Maturity”	  	29
	 	  	“Subordinated Indebtedness”	  	29
	 	  	“Subsidiary”	  	29
	 	  	“Successor Company”	  	30
	 	  	“Successor Person”	  	30
	 	  	“Termination Fees”	  	30
	 	  	“Total Assets”	  	30
	 	  	“Transactions”	  	30
	 	  	“Treasury Rate”	  	30
	 	  	“Trust Indenture Act” or “TIA”	  	30
	 	  	“Trustee”	  	30
	 	  	“Uniform Commercial Code”	  	30
	 	  	“Unrestricted Subsidiary”	  	31
	 	  	“U.S. Person”	  	31
	 	  	“Vice President”	  	31
	 	  	“Voting Stock”	  	31
	 	  	“Weighted Average Life to Maturity”	  	32
	 	  	“Wholly Owned Subsidiary”	  	32
	 SECTION 103.
	  	Compliance Certificates and Opinions	  	32
	 SECTION 104.
	  	Form of Documents Delivered to Trustee	  	32
	 SECTION 105.
	  	Acts of Holders	  	33
	 SECTION 106.
	  	Notices, Etc., to Trustee, Company, any Guarantor and Agent	  	34
	 SECTION 107.
	  	Notice to Holders; Waiver	  	34
	 SECTION 108.
	  	Effect of Headings and Table of Contents	  	35
	 SECTION 109.
	  	Successors and Assigns	  	35
	 SECTION 110.
	  	Separability Clause	  	35
	 SECTION 111.
	  	Benefits of Indenture	  	35
	 SECTION 112.
	  	Governing Law	  	35
	 SECTION 113.
	  	Consent to Jurisdiction	  	35
	 SECTION 114.
	  	Legal Holidays	  	36
	 SECTION 115.
	  	No Personal Liability of Directors, Officers, Employees and Stockholders	  	36
	 SECTION 116.
	  	Trust Indenture Act Controls	  	36
	 SECTION 117.
	  	Counterparts	  	36
	
	 ARTICLE TWO
  
 NOTE FORMS

			
	 SECTION 201.
	  	Form and Dating	  	36
	 SECTION 202.
	  	Execution, Authentication, Delivery and Dating	  	37

  

 iv 

					
	 ARTICLE THREE
  
 THE NOTES

			
	 SECTION 301.
	  	Title and Terms	  	38
	 SECTION 302.
	  	Denominations	  	39
	 SECTION 303.
	  	Temporary Notes	  	39
	 SECTION 304.
	  	Registration, Registration of Transfer and Exchange	  	39
	 SECTION 305.
	  	Mutilated, Destroyed, Lost and Stolen Notes	  	40
	 SECTION 306.
	  	Payment of Interest; Interest Rights Preserved	  	41
	 SECTION 307.
	  	Persons Deemed Owners	  	42
	 SECTION 308.
	  	Cancellation	  	42
	 SECTION 309.
	  	Computation of Interest	  	43
	 SECTION 310.
	  	Transfer and Exchange	  	43
	 SECTION 311.
	  	CUSIP Numbers	  	43
	 SECTION 312.
	  	Issuance of Additional Notes	  	43
	
	 ARTICLE FOUR
  

SATISFACTION AND DISCHARGE

			
	 SECTION 401.
	  	Satisfaction and Discharge of Indenture	  	43
	 SECTION 402.
	  	Application of Trust Money	  	45
	
	 ARTICLE FIVE
  

REMEDIES

			
	 SECTION 501.
	  	Events of Default	  	45
	 SECTION 502.
	  	Acceleration of Maturity; Rescission and Annulment	  	47
	 SECTION 503.
	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	48
	 SECTION 504.
	  	Trustee May File Proofs of Claim	  	49
	 SECTION 505.
	  	Trustee May Enforce Claims Without Possession of Notes	  	50
	 SECTION 506.
	  	Application of Money Collected	  	50
	 SECTION 507.
	  	Limitation on Suits	  	50
	 SECTION 508.
	  	Unconditional Right of Holders to Receive Principal, Premium and Interest	  	51
	 SECTION 509.
	  	Restoration of Rights and Remedies	  	51
	 SECTION 510.
	  	Rights and Remedies Cumulative	  	51
	 SECTION 511.
	  	Delay or Omission Not Waiver	  	52
	 SECTION 512.
	  	Control by Holders	  	52
	 SECTION 513.
	  	Waiver of Past Defaults	  	52
	 SECTION 514.
	  	Waiver of Stay or Extension Laws	  	52

  

 v 

					
	 ARTICLE SIX
  
 THE TRUSTEE

			
	 SECTION 601.
	  	Duties of the Trustee	  	53
	 SECTION 602.
	  	Notice of Defaults	  	54
	 SECTION 603.
	  	Certain Rights of Trustee	  	54
	 SECTION 604.
	  	Trustee Not Responsible for Recitals or Issuance of Notes	  	55
	 SECTION 605.
	  	May Hold Notes	  	56
	 SECTION 606.
	  	Money Held in Trust	  	56
	 SECTION 607.
	  	Compensation and Reimbursement	  	56
	 SECTION 608.
	  	Corporate Trustee Required; Eligibility	  	57
	 SECTION 609.
	  	Resignation and Removal; Appointment of Successor	  	57
	 SECTION 610.
	  	Acceptance of Appointment by Successor	  	58
	 SECTION 611.
	  	Merger, Conversion, Consolidation or Succession to Business	  	58
	 SECTION 612.
	  	Appointment of Authenticating Agent	  	59
	
	 ARTICLE SEVEN
  

HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY

			
	 SECTION 701.
	  	Company to Furnish Trustee Names and Addresses	  	60
	 SECTION 702.
	  	Disclosure of Names and Addresses of Holders	  	60
	 SECTION 703.
	  	Reports by Trustee	  	61
	
	 ARTICLE EIGHT
  

MERGER, CONSOLIDATION OR SALE
 OF
ALL OR SUBSTANTIALLY ALL ASSETS

			
	 SECTION 801.
	  	Company May Consolidate, Etc., Only on Certain Terms	  	61
	 SECTION 802.
	  	Guarantors May Consolidate, Etc., Only on Certain Terms	  	62
	 SECTION 803.
	  	Successor Substituted	  	63
	
	 ARTICLE NINE
  

SUPPLEMENTAL INDENTURES

			
	 SECTION 901.
	  	Amendments or Supplements Without Consent of Holders	  	63
	 SECTION 902.
	  	Amendments, Supplements or Waivers with Consent of Holders	  	64
	 SECTION 903.
	  	Execution of Amendments, Supplements or Waivers	  	65
	 SECTION 904.
	  	Effect of Amendments, Supplements or Waivers	  	65
	 SECTION 905.
	  	Compliance with Trust Indenture Act	  	65
	 SECTION 906.
	  	Reference in Notes to Supplemental Indentures	  	65
	 SECTION 907.
	  	Notice of Supplemental Indentures	  	66

  

 vi 

					
	 ARTICLE TEN
  
 COVENANTS

			
	 SECTION 1001.
	  	Payment of Principal, Premium, if any, and Interest	  	66
	 SECTION 1002.
	  	Maintenance of Office or Agency	  	66
	 SECTION 1003.
	  	Money for Notes Payments to Be Held in Trust	  	67
	 SECTION 1004.
	  	Corporate Existence	  	68
	 SECTION 1005.
	  	Payment of Taxes and Other Claims	  	68
	 SECTION 1006.
	  	Maintenance of Properties	  	68
	 SECTION 1007.
	  	[intentionally omitted]	  	68
	 SECTION 1008.
	  	Statement by Officers as to Default	  	68
	 SECTION 1009.
	  	Reports and Other Information	  	69
	 SECTION 1010.
	  	Limitation on Restricted Payments	  	70
	 SECTION 1011.
	  	Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock	  	76
	 SECTION 1012.
	  	Limitation on Liens	  	81
	 SECTION 1013.
	  	Limitations on Transactions with Affiliates	  	82
	 SECTION 1014.
	  	Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	  	84
	 SECTION 1015.
	  	Limitation on Guarantees of Indebtedness by Restricted Subsidiaries	  	86
	 SECTION 1016.
	  	[intentionally omitted]	  	86
	 SECTION 1017.
	  	Change of Control	  	86
	 SECTION 1018.
	  	Asset Sales	  	88
	 SECTION 1019.
	  	Special Interest Notice	  	91
	 SECTION 1020.
	  	[intentionally omitted]	  	91
	 SECTION 1021.
	  	Limitation on Senior Subordinated Debt	  	91
	
	 ARTICLE ELEVEN
  

REDEMPTION OF NOTES

	 SECTION 1101.
	  	Right of Redemption	  	91
	 SECTION 1102.
	  	Applicability of Article	  	92
	 SECTION 1103.
	  	Election to Redeem; Notice to Trustee	  	92
	 SECTION 1104.
	  	Selection by Trustee of Notes to Be Redeemed	  	92
	 SECTION 1105.
	  	Notice of Redemption	  	93
	 SECTION 1106.
	  	Deposit of Redemption Price	  	94
	 SECTION 1107.
	  	Notes Payable on Redemption Date	  	94
	 SECTION 1108.
	  	Notes Redeemed in Part	  	94
	
	 ARTICLE TWELVE
  

GUARANTEES

	 SECTION 1201.
	  	Guarantees	  	94

  

 vii 

					
	 SECTION 1202.
	  	Severability	  	96
	 SECTION 1203.
	  	Restricted Subsidiaries	  	96
	 SECTION 1204.
	  	Limitation of Guarantors’ Liability	  	97
	 SECTION 1205.
	  	Contribution	  	97
	 SECTION 1206.
	  	Subrogation	  	97
	 SECTION 1207.
	  	Reinstatement	  	97
	 SECTION 1208.
	  	Release of a Guarantor	  	98
	 SECTION 1209.
	  	Benefits Acknowledged	  	98
	
	 ARTICLE THIRTEEN
  
 LEGAL DEFEASANCE AND COVENANT DEFEASANCE

			
	 SECTION 1301.
	  	Company’s Option to Effect Legal Defeasance or Covenant Defeasance	  	98
	 SECTION 1302.
	  	Legal Defeasance and Discharge	  	98
	 SECTION 1303.
	  	Covenant Defeasance	  	99
	 SECTION 1304.
	  	Conditions to Legal Defeasance or Covenant Defeasance	  	99
	 SECTION 1305.
	  	Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions	  	101
	 SECTION 1306.
	  	Reinstatement	  	102
	
	 ARTICLE FOURTEEN
  
 SUBORDINATION

			
	 SECTION 1401.
	  	Agreement to Subordinate	  	102
	 SECTION 1402.
	  	Liquidation; Dissolution; Bankruptcy	  	102
	 SECTION 1403.
	  	Default on Designated Senior Debt	  	102
	 SECTION 1404.
	  	Subordination of Guarantee	  	104
	 SECTION 1405.
	  	Acceleration of Securities	  	104
	 SECTION 1406.
	  	When Distribution Must Be Paid Over	  	104
	 SECTION 1407.
	  	Notice by the Company	  	104
	 SECTION 1408.
	  	Subrogation	  	104
	 SECTION 1409.
	  	Relative Rights	  	105
	 SECTION 1410.
	  	Subordination May Not Be Impaired by the Company	  	105
	 SECTION 1411.
	  	Distribution or Notice to Representative	  	105
	 SECTION 1412.
	  	Rights of Trustee and Paying Agent	  	105
	 SECTION 1413.
	  	Authorization to Effect Subordination	  	106
	 SECTION 1414.
	  	Trustee Not Fiduciary for Holders of Senior Indebtedness	  	106

  

 viii 

 APPENDIX & EXHIBITS 
  

					
	 Rule 144A / Regulation S / IAI Appendix

	
	 Exhibit 1 to Rule 144A / Regulation S / IAI Appendix - Form of Initial Note

	
	 Exhibit 2 to Rule 144A / Regulation S / IAI Appendix - Form of Transferee Letter of Representation

			
	 Exhibit A
	  	–	  	FORM OF EXCHANGE SECURITY OR PRIVATE EXCHANGE SECURITY
			
	 Exhibit B
	  	–	  	FORM OF SUPPLEMENTAL INDENTURE
			
	 Exhibit C
	  	–	  	FORM OF INCUMBENCY CERTIFICATE

  

 ix 

 INDENTURE dated as of August 11, 2005 (this “Indenture”), between RAINIER ACQUISITION
CORP., a Delaware corporation (the “Company”), having its principal office at 525 Madison Avenue, 42nd
Floor, New York, NY, 10022, c/o The Carlyle Group, and U.S. BANK NATIONAL ASSOCIATION, a New York banking corporation, as Trustee (the “Trustee”). 
  
 RECITALS OF THE COMPANY 
  
 The Company has duly authorized the creation of an issue of (i) 9 1/4% Senior Subordinated Notes Due 2013 issued on the date hereof (the “Initial Notes”) and (ii) if and when issued as required by the Exchange and Registration
Rights Agreement dated the date hereof, among the Company, the Guarantors and the Purchasers (as defined therein) (the “Registration Rights Agreement”), 9 1/4% Senior Subordinated Exchange Notes Due 2013 issued in an Exchange Offer in exchange for any Initial Notes (the “Exchange Notes”, and collectively with the Initial
Notes, the “Notes”), of substantially the tenor and amount hereinafter set forth, and to provide therefor the Company has duly authorized the execution and delivery of this Indenture. 
  
 All things necessary have been done to make the Notes, when executed by the
Company and authenticated and delivered hereunder and duly issued by the Company, the valid and legally binding obligations of the Company and to make this Indenture a valid and legally binding agreement of the Company, in accordance with their and
its terms. 
  
 NOW, THEREFORE, THIS INDENTURE WITNESSETH:

  
 For and in consideration of the premises and the purchase
of the Notes by the Holders thereof, it is mutually covenanted and agreed, for the equal and ratable benefit of all Holders, as follows: 
  
 ARTICLE ONE 
  
 DEFINITIONS AND OTHER PROVISIONS 
 OF GENERAL APPLICATION 
  
 SECTION 101. Rules of Construction and Incorporation by Reference of Trust
Indenture Act. (a) 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 words in the singular include the plural and
words in the plural include the singular; 
  
 (2)
all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP (as herein defined); 
  
 (3) 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; 

 (4) all references to Articles, Sections, Exhibits and Appendices shall be construed to
refer to Articles and Sections of, and Exhibits and Appendices to, this Indenture; 
  
 (5) “or” is not exclusive; 
  
 (6) “including” means including without limitation; 
  
 (7) all references to the date the Notes were originally issued shall refer to the Issue Date; and

  
 (8) all references, in any context, to any
interest or other amount payable on or with respect to the Notes shall be deemed to include any Special Interest (as herein defined) pursuant to the Registration Rights Agreement. 
  
 (b) This Indenture is subject to the mandatory provisions of the TIA (as herein defined) which are incorporated by reference
in and made a part of this Indenture. The following TIA terms have the following meanings: 
  
 (1) “Commission” means the SEC; 
  
 (2) “indenture securities” means the Notes and the Guarantees; 
  
 (3) “indenture security holder” means a Holder; 
  
 (4) “indenture to be qualified” means this
Indenture; 
  
 (5) “indenture trustee”
or “institutional trustee” means the Trustee; and 
  
 (6) “obligor” on the indenture securities means the Company, each Guarantor and any other obligor on the indenture securities. 
  
 All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or
defined by SEC rule have the meanings assigned to them by such definitions. 
  
 SECTION 102. Definitions. 
  
 “Acquired Indebtedness” means, with respect to any specified Person, 
  
 (1) Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Restricted Subsidiary of
such specified Person, including Indebtedness incurred in connection with, or in contemplation of, such other Person merging with or into or becoming a Restricted Subsidiary of such specified Person, and 
  
 (2) Indebtedness secured by a Lien encumbering any asset
acquired by such specified Person. 
  

 2 

 “Act”, when used with respect to any Holder, has the meaning specified in Section 105 of
this Indenture. 
  
 “Additional Notes” means any Notes
issued by the Company pursuant to Section 312. 
  
 “Adjusted Net Assets” has the meaning specified in Section 1205 of this Indenture. 
  
 “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 purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as used
with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise.

  
 “Affiliate Transaction” has the meaning specified in
Section 1013 of this Indenture. 
  
 “Agent” means
any Note Registrar, co-registrar, Paying Agent or additional paying agent. 
  
 “Applicable Premium” means, with respect to any Note on any Redemption Date, the greater of: 
  
 (1) 1.0% of the principal amount of the Note; and 
  
 (2) the excess, if any, of: 
  
 (A) the present value at such Redemption Date of (i) the Redemption Price of the Note at
August 15, 2009 (such Redemption Price being set forth in the table appearing in Section 1101), plus (ii) all required interest payments due on the Note through August 15, 2009 (excluding accrued but unpaid interest to the
Redemption Date), computed using a discount rate equal to the Treasury Rate as of such Redemption Date plus 50 basis points; over 
  
 (B) the principal amount of the Note. 
  
 “Asset Sale” means: 
  
 (1) the sale, lease (other than by way of any operating lease), conveyance, transfer or other disposition, whether in a single transaction
or a series of related transactions, of property or assets of the Company or any Restricted Subsidiary (each referred to in this definition as a “disposition”), or 
  

 3 

 (2) the issuance or sale of Equity Interests of any Restricted Subsidiary, whether in a
single transaction or a series of related transactions, in each case, other than: 
  
 (A) a disposition of Cash Equivalents or obsolete or worn out equipment or other assets in the ordinary course of business or inventory
and dispositions of property or other assets no longer used or useful in the business of the Company and its Restricted Subsidiaries; 
  
 (B) the disposition of all or substantially all of the assets of the Company in a manner permitted pursuant to Section 801 or any
disposition that constitutes a Change of Control pursuant to this Indenture; 
  
 (C) the making of any Restricted Payment that is permitted to be made, and is made, under Section 1010 or the making of any Permitted Investment; 
  
 (D) any disposition of assets or issuance or sale of Equity Interests of any Restricted Subsidiary in any
transaction or series of transactions with an aggregate fair market value (as determined in good faith by the Board of Directors of the Company) of less than $5.0 million; 
  
 (E) any disposition of property or assets or issuance of securities by a Restricted Subsidiary to the
Company or by the Company or a Restricted Subsidiary to a Restricted Subsidiary; 
  
 (F) to the extent allowable under Section 1031 of the Internal Revenue Code of 1986, any exchange of like property for use in a
Similar Business; 
  
 (G) the lease, license,
sublicense, assignment or sub-lease of any real or personal property in the ordinary course of business; 
  
 (H) any sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary (with the exception of Investments
in Unrestricted Subsidiaries acquired pursuant to clause (13) of the definition of Permitted Investments); 
  
 (I) foreclosures on assets; 
  
 (J) disposition of accounts receivable in connection with the collection or compromise thereof; 
  
 (K) the issuance or sale of director’s qualifying
shares and shares issued to foreign nationals under applicable law; 
  
 (L) surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of any kind; 
  
 (M) sales of Receivables and related assets of the type specified in the definition of Qualified Receivables
Transaction to a Receivables Subsidiary for the fair market value thereof, less amounts required to be established as reserves and customary discounts pursuant to contractual agreements with entities that are 

  

 4 

 
not Affiliates of the Company entered into as part of a Qualified Receivables Transaction; 
  
 (N) transfers of Receivables and related assets of the type specified in the definition of Qualified
Receivables Transaction (or a fractional undivided interest therein) by a Receivables Subsidiary in a Qualified Receivables Transaction; 
  
 (O) any financing transaction with respect to property built or acquired by the Company or any Restricted Subsidiary after the Issue Date,
including Sale and Lease-Back Transactions and asset securitizations permitted by this Indenture; and 
  
 (P) the creation of a Lien not prohibited by this Indenture. 
  
 “Asset Sale Offer” has the meaning specified in Section 1018 of this Indenture. 
  
 “Bankruptcy Law” means Title 11, United States Bankruptcy Code of
1978, as amended, or any similar United States federal or state law relating to bankruptcy, insolvency, receivership, winding-up, liquidation, reorganization or relief of debtors or any amendment to, succession to or change in any such law.

  
 “Board of Directors” means, with respect to any
Person, either the board of directors of such Person or any duly authorized committee of such board. 
  
 “Board Resolution” means, with respect to the Company, a duly adopted resolution of the Board of Directors of the Company or any committee
thereof. 
  
 “Business Day” means each day which is not
a Legal Holiday. 
  
 “Capital Stock” means: 

 
 (1) in the case of a corporation, corporate stock,

  
 (2) in the case of an association or business
entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock, 
  
 (3) in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited), and

  
 (4) 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. 
  
 “Capitalized Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital
lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP. For purposes of Section 1012, a Capitalized Lease Obligation shall be deemed
to be secured by a Lien on the property being leased. 
  

 5 

 “Captive Insurance Subsidiary” means a Subsidiary established by the Company or any of its
Subsidiaries for the sole purpose of insuring the business, facilities and/or employees of the Company and its Subsidiaries. 
  
 “Cash Equivalents” means: 
  
 (1) United States dollars, 
  
 (2) securities issued or directly and fully and unconditionally guaranteed or insured by the United States government or any agency or
instrumentality thereof the securities of which are unconditionally guaranteed as a full faith and credit obligation of such government with maturities of 24 months or less from the date of acquisition, 
  
 (3) certificates of deposit, time deposits and eurodollar
time deposits with maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case with any domestic commercial bank having capital and surplus
of not less than $250.0 million, 
  
 (4)
repurchase obligations for underlying securities of the types described in clauses (2) and (3) entered into with any financial institution meeting the qualifications specified in clause (3) above, 
  
 (5) commercial paper rated at least P-1 by Moody’s or
at least A-1 by S&P and in each case maturing within 12 months after the date of creation thereof, 
  
 (6) marketable short term money market and similar funds (x) either having assets in excess of $250.0 million or (y) having a
rating of at least P-2 or A-2 from either Moody’s or S&P, respectively (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another Rating Agency), 
  
 (7) investment funds investing substantially all of their
assets in securities of the types described in clauses (1) through (6) above, 
  
 (8) readily marketable direct obligations issued by any state of the United States of America or any political subdivision thereof having
one of the two highest rating categories obtainable from either Moody’s or S&P with maturities of 24 months or less from the date of acquisition, and 
  

(9) Indebtedness or preferred stock issued by Persons with a rating of A or higher from S&P or A2 or higher from Moody’s with
maturities of 12 months or less from the date of acquisition. 
  
 “Change of Control” means the occurrence of any of the following: 
  
 (1) the sale, lease or transfer, in one or a series of related transactions, of all or substantially all of the assets of the Company and
its Subsidiaries, taken as a whole, to any Person other than one or more Permitted Holders; 
  

 6 

 (2) the adoption of a plan relating to the liquidation or dissolution of the Company;

  
 (3) the Company becomes aware of (by way of a
report or any other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) the acquisition by (x) any Person (other than one or more Permitted Holders) or (y) any Persons (other than one or
more Permitted Holders) that together (1) are a group (within the meaning of Section 13(d)(3), Section 14(d)(2) of the Exchange Act, or any successor provision) or (2) are acting, for purposes of acquiring, holding or disposing
of securities, as a group (within the meaning of Rule 13d-5(b)(1) of the Exchange Act, or any successor provision), in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination or
purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision) of 40% or more of the total voting power of the Voting Stock of the Company or any of its direct or indirect parents; or

  
 (4) the first day on which a majority of the
members of the Board of Directors of the Company are not Continuing Directors. 
  
 “Change of Control Offer” has the meaning specified in Section 1017 of this Indenture. 
  
 “Change of Control Payment” has the meaning specified in Section 1017 of this Indenture. 
  
 “Change of Control Payment Date” has the meaning specified in
Section 1017 of this Indenture. 
  
 “Company”
means, prior to execution and delivery on the date hereof of a supplemental indenture by LifeCare Holdings, Inc., Rainier Acquisition Corp. and, thereafter, LifeCare Holdings, Inc. and its successors. 
  
 “Company Request” or “Company Order” means a written
request or order signed in the name of the Company by an Officer and delivered to the Trustee. 
  
 “consolidated” or “Consolidated” means, with respect to any Person, such Person consolidated with its Restricted Subsidiaries, and shall not include any Unrestricted Subsidiary. 
  
 “Consolidated Cash Flow” means, with respect to any specified
Person for any period, the Consolidated Net Income of such Person for such period, plus: 
  
 (1) provision for taxes based on income or profits (including franchise taxes) of such Person and its Restricted Subsidiaries for such
period, to the extent that such provision for taxes was deducted in computing such Consolidated Net Income; plus 
  
 (2) Fixed Charges of such Person and its Restricted Subsidiaries for such period, to the extent that any such Fixed Charges were deducted
in computing such Consolidated Net Income; plus 
  

 7 

 (3) depreciation, amortization (including amortization of intangibles but excluding
amortization of prepaid cash expenses that were paid in a prior period) and other non-cash expenses (excluding any such non-cash expense to the extent that it represents an accrual of or reserve for cash expenses in any future period or amortization
of a prepaid cash expense that was paid in a prior period) and the amortization of deferred financing fees of such Person and its Restricted Subsidiaries for such period to the extent that such depreciation, amortization and other non-cash expenses
were deducted in computing such Consolidated Net Income; plus 
  
 (4) any expenses or charges related to any Equity Offering (but, if such Equity Offering is a sale of Equity Interests of any parent of the Company, only to the extent that the proceeds of such Equity Offering is
contributed to the equity of the Company), Permitted Investment, acquisition, disposition, recapitalization or Indebtedness permitted to be incurred by this Indenture including a refinancing thereof (whether or not successful), including
(i) such fees, expenses or charges related to the offering of the Notes and the Credit Facilities and (ii) any amendment or other modification of the Notes or the Credit Facilities, in each case, to the extent deducted in computing such
Consolidated Net Income; plus 
  
 (5) the
amount of any restructuring charge deducted in such period in computing such Consolidated Net Income, including any one-time costs incurred in connection with acquisitions after the Issue Date and costs related to closure of facilities; plus

  
 (6) the amount of any minority interest
expense deducted in calculating such Consolidated Net Income (less the amount of any cash dividends paid to the holders of such minority interests); plus 
  
 (7) the amount of management, monitoring, consulting and advisory fees and related expenses and Termination
Fees paid to the Investors or any of their Affiliates (other than portfolio companies) (or any accruals relating to such fees and related expenses) pursuant to the Management Agreement, to the extent deducted in computing such Consolidated Net
Income; plus 
  
 (8) the amount of startup
losses, to the extent deducted in computing such Consolidated Net Income and without duplication, at any long-term acute care hospital operated by the Company or any of its Restricted Subsidiaries, which amount shall be based on a calculation in
good faith by a responsible financial or accounting officer of the Company and attached to an Officers’ Certificate delivered to the Trustee, in an aggregate amount per four fiscal quarter period not to exceed the greater of (x) $7.5
million and (y) 10% of the Company’s Consolidated Cash Flow for such period (excluding this clause (8)); minus 
  
 (9) non-cash items increasing such Consolidated Net Income for such period, other than (x) the accrual of revenue consistent with
past practice, (y) recognition of deferred revenue items and other items for which cash has been received in a prior period to the extent not increasing Consolidated Cash Flow in a prior period and (z) reversal of 

  

 8 

 
reserves to the extent that amounts in respect of such reserves did not increase Consolidated Cash Flow in a prior period; 
  
 in each case, on a consolidated basis and determined in accordance with GAAP and without
duplication. 
  
 Notwithstanding the preceding, the provision for
taxes based on the income or profits of, the Fixed Charges of and the depreciation and amortization and other non-cash expenses of, a Restricted Subsidiary shall be added to Consolidated Net Income to compute Consolidated Cash Flow of the Company
(A) in the same proportion that the Net Income of such Restricted Subsidiary was added to compute such Consolidated Net Income of the Company and (B) in the case of a Restricted Subsidiary that is not a Guarantor, only to the extent that a
corresponding amount would be permitted at the date of determination to be dividended or distributed to the Company by such Restricted Subsidiary without prior governmental approval (that has not been obtained), and without direct or indirect
restriction pursuant to the terms of its charter and all agreements, instruments, judgments, decrees, orders, statutes, rules and governmental regulations applicable to that Subsidiary or its stockholders. 
  
 “Consolidated Net Income” means, with respect to any specified
Person for any period, the aggregate of the Net Income of such Person and its Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; provided that: 
  
 (1) the Net Income or loss of any Person that is not a
Restricted Subsidiary or that is accounted for by the equity method of accounting shall be included only to the extent of the amount of dividends or distributions paid in cash (or to the extent converted into cash) to the specified Person or a
Restricted Subsidiary thereof; provided that, solely for purposes of Section 1010 such dividend or distribution shall be excluded from this clause (1) to the extent it is included in Section 1010(a)(C)(iii); 
  
 (2) solely for purposes of Section 1010, the Net Income
of any Restricted Subsidiary (other than a Guarantor) shall be excluded to the extent that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of that Net Income is not at the date of determination
permitted without any prior governmental approval (that has not been obtained) or, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation
applicable to that Restricted Subsidiary or its equityholders, unless such restriction with respect to the payment of dividends or similar distributions has been legally waived; provided that Consolidated Net Income of such Person shall be
increased by the amount of dividends or other distributions or other payments actually paid in cash (or to the extent converted into cash) by such Restricted Subsidiary to such Person or a Restricted Subsidiary thereof in respect of such period, to
the extent not already included therein; 
  
 (3)
the Net Income of any Person acquired during the specified period for any period prior to the date of such acquisition shall be excluded; 
  
 (4) the cumulative effect of a change in accounting principles shall be excluded; 
  

 9 

 (5) the effect of adjustments in any line item in such Person’s consolidated
financial statements required or permitted by the Financial Accounting Standards Board Statement Nos. 141 and 142 resulting from the application of purchase accounting in relation to the Transactions or any acquisition that is consummated after the
Issue Date, net of taxes, shall be excluded; 
  
 (6) any net after-tax income (loss) from the early extinguishment of Hedging Obligations or other derivative instruments shall be excluded; 
  
 (7) any impairment charge or asset write-off pursuant to Financial Accounting Standards Board Statement No. 142 and No. 144 and
the amortization of intangibles arising pursuant to No. 141 shall be excluded; and 
  
 (8) any non-cash compensation expense recorded from grants of stock options or other rights to officers, directors or employees shall be
excluded. 
  
 “Continuing Directors” means, as of any
date of determination, any member of the Board of Directors of the Company who: 
  
 (1) was a member of such Board of Directors on the Issue Date; 
  
 (2) was nominated for election or elected to such Board of Directors with the approval of a majority of the
Continuing Directors who were members of such Board of Directors at the time of such nomination or election; or 
  
 (3) was designated or appointed by an Investor. 
  

“Corporate Trust Office” means the principal corporate trust office of the Trustee, at which at any particular time its corporate trust
business shall be administered, which office at the date of execution of this Indenture is located at U.S. Bank National Association, 60 Livingston Avenue, EP-MN-WS3C, St. Paul, MN 55107-2292, except that with respect to presentation of the Notes
for payment or for registration of transfer or exchange, such term shall mean the office or agency of the Trustee at which, at any particular time, its corporate agency business shall be conducted. 
  
 “Corporation” includes corporations, associations, companies and
business trusts. 
  
 “Covenant Defeasance” has the
meaning specified in Section 1303 of this Indenture. 
  
 “Credit Facilities” means, with respect to the Company or any of its Restricted Subsidiaries, one or more debt facilities, including the Senior Credit Facilities, or commercial paper facilities with banks or other institutional
lenders or investors or indentures providing for revolving credit loans, term loans, receivables financing, including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against
receivables, letters of credit or other long-term indebtedness, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals,
restatements or refundings 

  

 10 

 
thereof and any indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors 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 borrowable thereunder or alters the maturity thereof
(provided that such increase in borrowings is permitted under Section 1011). 
  
 “Default” means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default. 
  
 “Defaulted Interest” has the meaning specified in Section 306(b) of this Indenture. 
  
 “Depositary” means The Depository Trust Company, its nominees and
their respective successors. 
  
 “Designated Noncash
Consideration” means the fair market value of non-cash consideration received by the Company or a Restricted Subsidiary in connection with an Asset Sale that is so designated as Designated Noncash Consideration pursuant to an Officers’
Certificate, setting forth the basis of such valuation, executed by an executive vice president and the principal financial officer of the Company, less the amount of cash or Cash Equivalents received in connection with a subsequent sale, redemption
or payment of, on or with respect to, such Designated Noncash Consideration. 
  
 “Designated Preferred Stock” means preferred stock of the Company or any direct or indirect parent thereof (in each case other than Disqualified Stock) that is issued for cash (other than to a Restricted
Subsidiary) and is so designated as Designated Preferred Stock, pursuant to an Officers’ Certificate executed by an executive vice president and the principal financial officer of the Company or the applicable parent thereof, as the case may
be, on the issuance date thereof, the cash proceeds of which are excluded from the calculation set forth in Section 1010(a)(C)(ii). 
  
 “Designated Senior Debt” means 
  
 (1) any Indebtedness outstanding under the Senior Credit Facilities; and 
  
 (2) to the extent permitted under the Senior Credit Facilities, any other Senior Debt permitted under this
Indenture the amount of which is $25.0 million or more and that has been designated by the Company as “Designated Senior Debt.” 
  
 “Disqualified Stock” means, with respect to any Person, any Capital Stock of such Person which, by its terms, or by the terms of any security
into which it is convertible or for which it is putable or exchangeable, or upon the happening of any event, matures or is mandatorily redeemable, other than as a result of a change of control or asset sale, pursuant to a sinking fund obligation or
otherwise, or is redeemable at the option of the holder thereof, other than as a result of a change of control or asset sale, in whole or in part, in each case prior to the date 91 days after the earlier of the maturity date of the Notes or the date
the Notes are no longer Outstanding; provided, however, that if such Capital Stock is issued to any plan for the benefit of employees of the Company or its Subsidiaries or by any such plan to such employees, such Capital Stock shall
not constitute Disqualified Stock solely because it may be required to be 

  

 11 

 
repurchased by the Company or its Subsidiaries in order to satisfy applicable statutory or regulatory obligations. 
  
 “Domestic Subsidiary” means, with respect to any Person, any
Restricted Subsidiary of such Person other than a Foreign Subsidiary. 
  
 “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. 
  
 “Equity Offering” means any public or private sale of common stock
or preferred stock of the Company (excluding Disqualified Stock) or any of its direct or indirect parents, other than 
  
 (1) public offerings with respect to the Company’s or any direct or indirect parent’s common stock registered on Form S-8 and

  
 (2) any such public or private sale that
constitutes an Excluded Contribution. 
  
 “Event of
Default” has the meaning specified in Section 501 of this Indenture. 
  
 “Excess Proceeds” has the meaning specified in Section 1018 of this Indenture. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

  
 “Exchange Notes” has the meaning specified in the
first recital of this Indenture. Unless the context otherwise requires, all references to the Exchange Notes shall include 9 1/4% Senior Subordinated Exchange Notes Due 2013 issued in exchange for any Additional Notes. 
  
 “Exchange Offer” means the Exchange Offer as defined in the Registration Rights Agreement. 
  
 “Exchange Offer Registration Statement” means the Exchange Offer
Registration Statement as defined in the Registration Rights Agreement. 
  
 “Excluded Contribution” means net cash proceeds, marketable securities or Qualified Proceeds received by the Company from: 
  
 (1) contributions to its common equity capital, and 
  
 (2) the sale (other than to a Subsidiary of the Company or to any management equity plan or stock option
plan or any other management or employee benefit plan or agreement of the Company) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Company, 
  
 in each case designated as Excluded Contributions pursuant to an Officers’ Certificate executed by an executive vice president and the
principal financial officer of the Company on the date 

  

 12 

 
such capital contributions are made or the date such Equity Interests are sold, as the case may be, which are excluded from the calculation set forth in
Section 1010(a)(C)(ii). 
  
 “Excluded Subsidiary”
means (x) any Receivables Subsidiary and (y) any Restricted Subsidiary of the Company that is not a Wholly Owned Subsidiary of the Company and that is designated as an “Excluded Subsidiary” pursuant to an Officers’
Certificate executed by an executive officer of the Company and delivered to the Trustee; provided that the Total Assets of all Restricted Subsidiaries that are Excluded Subsidiaries solely as a result of this clause (y), as reflected on
their respective most recent balance sheets prepared in accordance with GAAP, do not in the aggregate at any time exceed 5% of Total Assets. 
  
 “Existing Indebtedness” means Indebtedness of the Company or the Restricted Subsidiaries in existence immediately after consummation of the
Transactions on the Issue Date. 
  
 “Fixed Charge Coverage
Ratio” means with respect to any specified Person for any period, the ratio of the Consolidated Cash Flow of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its
Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases or redeems any Indebtedness or issues, repurchases or redeems Disqualified Stock or preferred stock subsequent to the commencement of the period for which the Fixed Charge
Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated
giving pro forma effect to such incurrence, assumption, guarantee, repayment, repurchase or redemption of Indebtedness, or such issuance, repurchase or redemption of Disqualified Stock or preferred stock, and the use of the proceeds therefrom as if
the same had occurred at the beginning of such period. 
  
 In
addition, for purposes of calculating the Fixed Charge Coverage Ratio: 
  
 (1) acquisitions and dispositions of business entities or property and assets constituting a division or line of business of any Person that have been made by the specified Person or any of its Restricted Subsidiaries
(and including, for the avoidance of doubt, acquisitions and dispositions of business entities or property and assets constituting a division or line of business of any Person that have been made by a Person, division or line of business that is the
subject of an acquisition or disposition under this clause (1)), including through mergers or consolidations, during the four-quarter reference period or subsequent to such reference period and on or prior to the Calculation Date shall be given pro
forma effect as if they had occurred on the first day of the four-quarter reference period and Consolidated Cash Flow for such reference period shall be calculated on a pro forma basis in good faith by a responsible financial or accounting officer
of the Company and shall be in accordance with Regulation S-X under the Securities Act, except that such calculation may include expense reductions that are implemented, committed to be implemented, the commencement of implementation of which has
begun or reasonably expected to be implemented in good faith within six months of the date of such acquisition and that are supportable and quantifiable, decreased by any non-one-time incremental expenses incurred or to be incurred during such
four-quarter period in order to achieve such reduction in costs (but without, in any 

  

 13 

 
case, giving effect to clause (3) of the proviso set forth in the definition of Consolidated Net Income); 
  
 (2) the Consolidated Cash Flow attributable to discontinued
operations, as determined in accordance with GAAP, shall be excluded; 
  
 (3) the Fixed Charges attributable to discontinued operations, as determined in accordance with GAAP, shall be excluded, but only to the extent that the obligations giving rise to such Fixed Charges will not be
obligations of the specified Person or any of its Restricted Subsidiaries following the Calculation Date; 
  
 (4) consolidated interest expense attributable to interest on any Indebtedness (whether existing or being Incurred) computed on a pro
forma basis and bearing a floating interest rate shall be computed as if the rate in effect on the Calculation Date (taking into account any interest rate option, swap, cap or similar agreement applicable to such Indebtedness if such agreement has a
remaining term in excess of 12 months or, if shorter, at least equal to the remaining term of such Indebtedness) had been the applicable rate for the entire period; 
  
 (5) interest expense 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; and 
  
 (6) interest expense 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. 
  
 “Fixed Charges” means, with respect to any specified Person for any period, the sum, without duplication, of: 
  
 (1) the consolidated interest expense of such Person and its
Restricted Subsidiaries for such period, whether paid or accrued, including, without limitation, original issue discount, non-cash interest payments (other than imputed interest as a result of purchase accounting), the interest component of any
deferred payment obligations, the interest component of all payments associated with Capitalized Lease Obligations, commissions, discounts and other fees and charges incurred in respect of letter of credit or bankers’ acceptance financings, but
excluding (x) the amortization or accretion of debt issuance costs, (y) any commitment fees or similar financing fees incurred pursuant to the Transactions and (z) any losses resulting from mark-to-market accounting of interest rate
Hedging Obligations to the extent accounted for as interest expense, and, for this entire clause (1), net of the effect of all payments made or received pursuant to Hedging Obligations; plus  
  
 (2) the consolidated interest of such Person and its
Restricted Subsidiaries that was capitalized during such period; plus  
  

 14 

 (3) any interest expense on Indebtedness of another Person to the extent it is guaranteed
by such Person or one of its Restricted Subsidiaries or secured by a Lien on assets of such Person or one of its Restricted Subsidiaries, whether or not such guarantee or Lien is called upon; plus  
  
 (4) the product of (a) all dividends, whether paid or
accrued and whether or not in cash, on any series of Disqualified Stock or preferred stock (including any Designated Preferred Stock) of such Person or any of its Restricted Subsidiaries, other than dividends on Equity Interests payable solely in
Equity Interests (other than Disqualified Stock) of the Company or to the Company or a Restricted Subsidiary of the Company, times (b) a fraction, the numerator of which is one and the denominator of which is one minus the then current combined
federal, state and local statutory tax rate of such Person, expressed as a decimal; minus  
  
 (5) interest income of such Person and its Restricted Subsidiaries for such period, 
  
 in each case, on a consolidated basis and in accordance with GAAP. 
  
 “Foreign Subsidiary” means, with respect to any Person, any
Restricted Subsidiary of such Person that is not organized or existing under the laws of the United States, any state thereof, the District of Columbia, or any territory thereof. 
  
 “Funding Guarantor” has the meaning specified in Section 1205 of this Indenture. 
  
 “GAAP” means generally accepted accounting principles in the United
States which are in effect on the Issue Date. 
  
 “Government
Securities” means securities that are: 
  
 (1) direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged, or 
  
 (2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the
timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, 
  
 which, in either case, are not callable or redeemable at the option of the issuers thereof, and shall also include a depository receipt issued by a bank (as defined in
Section 3(a)(2) of the Securities Act), as custodian with respect to any such Government Securities or a specific payment of principal of or interest on any such Government Securities held by such custodian for the account of the holder of such
depository 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 depository receipt from any amount received by the custodian in respect of the
Government Securities or the specific payment of principal of or interest on the Government Securities evidenced by such depository receipt. 
  

 15 

 “guarantee” means a guarantee (other than by endorsement of negotiable instruments for
collection in the ordinary course of business), direct or indirect, in any manner (including letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations. 
  
 “Guarantee” means the guarantee by any Guarantor of the
Company’s obligations under this Indenture. 
  
 “Guarantors” means all Restricted Subsidiaries that are Domestic Subsidiaries as of the Issue Date and any other Subsidiary of the Company that executes a supplemental indenture to this Indenture providing for a guarantee of
payment of the Notes. 
  
 “Hedging Obligations” means,
with respect to any Person, the obligations of such Person under any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, foreign exchange contract, currency swap agreement or similar agreement providing for the
transfer or mitigation of interest rate or currency risks either generally or under specific contingencies. 
  
 “Holder” means a holder of the Notes. 
  
 “incur” has the meaning specified in Section 1011 of this Indenture. 
  
 “incurrence” has the meaning specified in Section 1011 of this Indenture. 
  
 “Indebtedness” means, with respect to any specified Person, any
indebtedness of such Person, whether or not contingent: 
  
 (1) in respect of borrowed money; 
  
 (2) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof); 
  
 (3) in respect of banker’s acceptances; 
  
 (4) in respect of Capitalized Lease Obligations; 
  
 (5) in respect of the balance deferred and unpaid of the
purchase price of any property or services, except any such balance that constitutes an accrued expense or trade payable; 
  
 (6) representing Hedging Obligations; or 
  
 (7) representing Disqualified Stock valued at the greater of its voluntary or involuntary maximum fixed repurchase price plus accrued
dividends, 
  
 if and to the extent any of the preceding items (other than letters
of credit and other than clauses (5), (6) or (7)) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP. The term “Indebtedness” excludes the present value of the 

  

 16 

 
obligations of a lessee for net rental payments on an operating lease entered into as part of a Sale and Lease-Back Transaction. In addition, the term
“Indebtedness” includes (x) all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified Person), provided that the amount of such Indebtedness
shall be the lesser of (A) the fair market value (as determined in good faith by the Board of Directors of the Company) of such asset at such date of determination and (B) the amount of such Indebtedness, and (y) to the extent not
otherwise included, the guarantee by the specified Person of any Indebtedness of any other Person. For purposes hereof, the “maximum fixed repurchase price” of any Disqualified Stock which does not have a fixed repurchase price shall be
calculated in accordance with the terms of such Disqualified Stock, as applicable, as if such Disqualified Stock were repurchased on any date on which Indebtedness will be required to be determined pursuant to this Indenture. 
  
 “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 Indenture and any such supplemental indenture, the
provisions of the Trust Indenture Act that are deemed to be part of and govern this instrument and any such supplemental indenture, respectively. 
  
 “Independent Financial Advisor” means an accounting, appraisal, investment banking firm or consultant to Persons engaged in Similar Businesses
of nationally recognized standing that is, in the good faith judgment of the Company, qualified to perform the task for which it has been engaged. 
  
 “Initial Notes” has the meaning stated in the first recital of this Indenture. 
  
 “Initial Purchasers” means Banc of America Securities LLC, J.P. Morgan Securities Inc. and ING Financial Markets
LLC. 
  
 “Interest Payment Date” means the Stated
Maturity of an installment of interest on the Notes. 
  
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by any other Rating Agency. 
  
 “Investment Grade Securities” means: 
  
 (1) securities issued or directly and fully guaranteed or
insured by the United States government or any agency or instrumentality thereof (other than Cash Equivalents), 
  
 (2) debt securities or debt instruments with a rating of BBB- or higher by S&P or Baa3 or higher by Moody’s or the equivalent of
such rating by such rating organization, or, if no rating of S&P or Moody’s then exists, the equivalent of such rating by any other nationally recognized securities rating agency, but excluding any debt securities or instruments
constituting loans or advances among the Company and its Subsidiaries, and 
  

 17 

 (3) investments in any fund that invests exclusively in investments of the type described
in clauses (1) and (2) above, which fund may also hold immaterial amounts of cash pending investment or distribution. 
  
 “Investments” means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the form of loans
(including guarantees), advances or capital contributions (excluding accounts receivable, trade credit, advances to customers, commission, travel expense and similar advances to officers and employees, in each case made in the ordinary course of
business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments that are required by GAAP to be classified on the balance sheet (excluding the footnotes)
of the Company in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other property. For purposes of this Indenture, the value of any Investment made by any Person
shall be measured at the time such Investment is made or acquired, without giving effect to subsequent changes in value. For purposes of the definition of “Unrestricted Subsidiary” and Section 1010, 
  
 (1) “Investments” shall include the portion
(proportionate to the Company’s equity interest in such Subsidiary) of the fair market value of the net assets of a Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided,
however, 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 of the Company. 
  
 “Investors” means TC Group, L.L.C. (which operates under the trade name “The Carlyle Group”) and its
Affiliates. 
  
 “Issue Date” means the date of original
issuance of the Notes under this Indenture. 
  
 “Legal
Defeasance” has the meaning specified in Section 1302 of this Indenture. 
  
 “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions are not required to be open in the State of New York. 
  
 “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of
any kind in respect of such asset, whether or not filed, 

  

 18 

 
recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any
option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction; provided that in no event shall an
operating lease be deemed to constitute a Lien. 
  
 “Management Agreement” means the Management Agreement by and among the Company, LCI Holdco LLC, LifeCare Holdings, Inc., LCI Intermediate Holdco, Inc., LCI Holding Company, Inc. and the Investors as in effect on the Issue Date and
any amendment thereto (so long as such amendment is not as a whole materially less favorable to the Holders in any respect than the original agreement as in effect on the Issue Date). 
  
 “Maturity”, when used with respect to any Note, means the date on which the principal of such Note or an
installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, notice of redemption or otherwise. 
  
 “Moody’s” means Moody’s Investors Service, Inc. and any successor to its rating agency business.

  
 “Net Income” means, with respect to any specified
Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect of preferred stock dividends, excluding, however: 
  
 (1) any gain or loss, together with any related provision for taxes on such gain or loss, realized in
connection with: (a) any sale of assets outside the ordinary course of business of such Person; or (b) the disposition of any securities by such Person or any of its Restricted Subsidiaries or the extinguishment of any Indebtedness of such
Person or any of its Restricted Subsidiaries; and 
  
 (2) any extraordinary, non-recurring or unusual gain, loss, charges or expense (including relating to severance, relocation costs, other restructuring costs, new product introductions, one-time compensation charges and the Transactions),
together with any related provision for taxes on such extraordinary, non-recurring or unusual gain, loss or expense. 
  
 “Net Proceeds” means the aggregate cash proceeds received by the Company or any Restricted Subsidiary in respect of any Asset Sale, including
any cash received upon the sale or other disposition of any Designated Noncash Consideration received in any Asset Sale, net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated Noncash Consideration,
including legal, accounting and investment banking fees, and brokerage and sales commissions, any relocation expenses incurred as a result thereof, taxes paid or payable as a result thereof (after taking into account any available tax credits or
deductions and any tax sharing arrangements), amounts required to be applied to the repayment of principal, premium, if any, and interest on Indebtedness secured by such asset and Senior Indebtedness required to be paid as a result of such
transaction and any deduction of appropriate amounts to be provided by the Company as a reserve in accordance with GAAP against any liabilities 

  

 19 

 
associated with the asset disposed of in such transaction and retained by the Company after such sale or other disposition thereof, including pension and
other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. 
  
 “Non-U.S. Person” means a Person who is not a U.S. Person. 
  
 “Note Register” and “Note Registrar” have the respective
meanings specified in Section 304. 
  
 “Notes” has
the meaning stated in the first recital of this Indenture and more particularly means any Notes authenticated and delivered under this Indenture. The Initial Notes and the Additional Notes shall be treated as a single class for all purposes of this
Indenture, and unless the context otherwise requires, all references to the Notes shall include the Initial Notes, any Additional Notes and the Exchange Notes issued in exchange for the Initial Notes and any Additional Notes. 
  
 “Obligations” means any principal, interest, penalties, fees,
indemnifications, reimbursements (including reimbursement obligations with respect to letters of credit and banker’s acceptances), damages and other liabilities, and guarantees of payment of such principal, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities, payable under the documentation governing any Indebtedness. 
  
 “Offering Memorandum” means the Offering Memorandum dated August 5, 2005 relating to the Notes. 
  
 “Officer” means the Chairman of the Board of Directors, the Chief
Executive Officer, the President, any Executive Vice President, Senior Vice President or Vice President, the Treasurer or the Secretary of the Company. 
  
 “Officers’ Certificate” means a certificate signed on behalf of the Company by two Officers of the Company, one of whom must be the
principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Company that meets the requirements set forth in this Indenture. 
  
 “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the Trustee. The counsel may
be an employee of or counsel to the Company or the Trustee. 
  
 “Outstanding”, when used with respect to Notes, means, as of the date of determination, all Notes theretofore authenticated and delivered under this Indenture, except: 
  
 (1) Notes theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 
  
 (2) Notes, or portions thereof, 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 

  

 20 

 
the Company shall act as its own Paying Agent) for the Holders of such Notes; provided that, if such Notes 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) Notes, except to the extent provided in Sections 1302 and 1303, with respect to which the Company has effected Legal Defeasance or
Covenant Defeasance as provided in Article Thirteen; and 
  
 (4) Notes which have been paid pursuant to Section 305 or in exchange for or in lieu of which other Notes have been authenticated and delivered pursuant to this Indenture, other than any such Notes in respect of
which there shall have been presented to the Trustee proof satisfactory to it that such Notes are held by a Protected Purchaser in whose hands the Notes are valid obligations of the Company; 
  
 provided, however, that in determining whether the Holders of the requisite
principal amount of Outstanding Notes have given any request, demand, authorization, direction, consent, notice or waiver hereunder, and for the purpose of making the calculations required by TIA Section 313, Notes owned by the Company or any
other obligor upon the Notes or any Affiliate of the Company or 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 Notes which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. 
  
 “Paying Agent” means any Person (including the Company acting as
Paying Agent) authorized by the Company to pay the principal of (and premium, if any) or interest on any Notes on behalf of the Company. 
  
 “Permitted Holders” means (i) TC Group, L.L.C., Carlyle Partners IV, L.P. and CP IV Coinvestment, L.P. and their Affiliates (but excluding
any portfolio companies of the foregoing) and (ii) any members of management of the Company listed in the Offering Memorandum under the heading “Management.” 
  
 “Permitted Investments” means: 
  
 (1) any Investment in the Company or any Restricted Subsidiary; 
  
 (2) any Investment in cash and Cash Equivalents or
Investment Grade Securities; 
  
 (3) any
Investment by the Company or any Restricted Subsidiary of the Company in a Person that is engaged in a Similar Business if as a result of such Investment; 
  
 (A) such Person becomes a Restricted Subsidiary, or 
  
 (B) such Person, in one transaction or a series of related transactions, 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 a Restricted Subsidiary; 
  

 21 

 (4) any Investment in securities or other assets not constituting cash or Cash
Equivalents and received in connection with an Asset Sale made pursuant to Section 1018, or any other disposition of assets not constituting an Asset Sale; 
  
 (5) any Investment existing on the Issue Date and any extension, modification, replacement or renewal of any
such Investments existing on the Issue Date, but only to the extent not involving additional advances, contributions or other Investments of cash or other assets or other increases thereof (other than as a result of the accrual or accretion of
interest or original issue discount or the issuance of pay-in-kind securities, in each case, pursuant to the terms of such Investment as in effect on the Issue Date); 
  
 (6) any Investment acquired by the Company or any Restricted Subsidiary 
  
 (A) in exchange for any other Investment or accounts
receivable held by the Company or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable or 
  
 (B) as a result of a foreclosure by the Company or any
Restricted Subsidiary with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; 
  
 (7) Hedging Obligations permitted under Section 1011(b)(10); 
  
 (8) repurchases of Notes; 
  
 (9) Investments the payment for which consists of Equity Interests of the Company, or any of its direct or
indirect parents (exclusive of Disqualified Stock); 
  
 (10) guarantees of Indebtedness permitted under Section 1011 and performance or completion guarantees in the ordinary course of business; 
  
 (11) Investments consisting of purchases and acquisitions of inventory, supplies, material or equipment; 
  
 (12) payments to any Captive Insurance Subsidiary in an
amount equal to (i) the capital required under the applicable laws or regulations of the jurisdiction in which such Captive Insurance Subsidiary is formed or determined by independent actuaries as prudent and necessary capital to operate such
Captive Insurance Subsidiary plus (ii) any reasonable general corporate and overhead expenses of such Captive Insurance Subsidiary; 
  
 (13) additional Investments having an aggregate fair market value, taken together with all other Investments made pursuant to this clause
(13) that are at that time outstanding (without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds of such sale do not consist of cash or cash equivalents), not to exceed $40.0 million at the time of such
Investment (with the fair market value of each Investment being measured in good faith by the Board of Directors of the Company at the time made 

  

 22 

 
and without giving effect to subsequent changes in value); provided, however, that if any Investment pursuant to this clause (13) is made in any
Person that is not a Restricted Subsidiary of the Company at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Company after such date, such Investment shall thereafter be deemed to have been made
pursuant to clause (1) above and shall cease to have been made pursuant to this clause (13) for so long as such Person continues to be a Restricted Subsidiary (it being understood that if such Person thereafter ceases to be a Restricted
Subsidiary of the Company, such Investment shall again be deemed to have been made pursuant to this clause (13)); 
  
 (14) loans and advances to officers, directors and employees for business related travel expenses, moving expenses and other similar
expenses, in each case incurred in the ordinary course of business; 
  
 (15) the acquisition by a Receivables Subsidiary in connection with a Qualified Receivables Transaction of Equity Interests of a trust or other Person established by such Receivables Subsidiary to effect such
Qualified Receivables Transaction; and any Investment by the Company or a Subsidiary of the Company in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in connection with a Qualified Receivables Transaction
customary for such transactions; 
  
 (16) any
Investment in a Similar Business having an aggregate fair market value, taken together with all other Investments made pursuant to this clause (16) that are at the time outstanding (without giving effect to the sale of an Unrestricted
Subsidiary to the extent the proceeds of such sale do not consist of cash or marketable securities), not to exceed the greater of (x) $40.0 million and (y) 6.25% of Total Assets at the time of such Investment; and 
  
 (17) loans and advances to employees not in excess of $2.5
million outstanding at any one time, in the aggregate. 
  
 “Permitted Junior Securities” means: 
  
 (1) Equity Interests in the Company or any other business entity provided for by a plan of reorganization; and 
  
 (2) debt securities of the Company or any Guarantor or any other business entity provided for by a plan of reorganization that are
subordinated to all Senior Debt and any debt securities issued in exchange for Senior Debt to the same extent as, or to a greater extent than, the Notes and the Guarantees are subordinated to Senior Debt under this Indenture. 
  
 “Permitted Liens” means: 
  
 (1) Liens on the assets of the Company and any Guarantor
securing Senior Debt that are permitted by the terms of this Indenture to be incurred; 
  

 23 

 (2) Liens in favor of the Company or any Restricted Subsidiary that is a Guarantor;

  
 (3) Liens on property of a Person existing at
the time such Person becomes a Restricted Subsidiary or is merged with or into or consolidated with the Company or any Restricted Subsidiary; provided that such Liens were in existence prior to, and not in contemplation of, such merger or
consolidation and do not extend to any assets other than those of the Person merged into or consolidated with the Company or the Restricted Subsidiary; 
  
 (4) Liens existing on property at the time of acquisition of such property by the Company or any Restricted Subsidiary, provided
that such Liens were in existence prior to, and not in contemplation of, such acquisition and do not extend to any other property owned by the Company or the Restricted Subsidiary; 
  
 (5) Liens securing the Notes and the Guarantees; 
  
 (6) Liens existing on the Issue Date; 
  
 (7) Liens securing Refinancing Indebtedness; provided that
such Liens do not extend to any property or assets other than the property or assets that secure the Indebtedness being refinanced; 
  
 (8) Liens on property or assets used to defease or to satisfy and discharge Indebtedness; provided that such defeasance or
satisfaction and discharge is not prohibited by this Indenture; 
  
 (9) Liens on Receivables transferred to a Receivables Subsidiary or on assets of a Receivables Subsidiary, or pledges of interests in a Receivables Subsidiary to support Indebtedness incurred in connection with a
Qualified Receivables Subsidiary; and 
  
 (10)
Liens securing obligations that do not exceed $5.0 million at any one time outstanding. 
  
 “Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint stock company, trust, unincorporated organization, government or any agency or political
subdivision thereof or any other entity. 
  
 “Predecessor
Note” of any particular Note means every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 305
in exchange for a mutilated Note or in lieu of a lost, destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note. 
  
 “preferred stock” means any Equity Interest with preferential rights of payment of dividends or upon liquidation,
dissolution, or winding up. 
  
 “Protected Purchaser”
has the meaning specified in Section 305 of this Indenture. 
  

 24 

 “Qualified Proceeds” means assets that are used or useful in, or Capital Stock of any Person
engaged in, a Similar Business; provided that the fair market value of any such assets or Capital Stock shall be determined by the Board of Directors of the Company in good faith. 
  
 “Qualified Receivables Transaction” means any transaction or series of transactions entered into by the Company or
any of its Subsidiaries pursuant to which the Company or any of its Subsidiaries sells, conveys or otherwise transfers, or grants a security interest in, to: 
  

(1) a Receivables Subsidiary (in the case of a transfer by the Company or any of its Subsidiaries, which transfer may be effected
through the Company or one or more of its Subsidiaries); and 
  
 (2) if applicable, any other Person (in the case of a transfer by a Receivables Subsidiary), 
  
 in each case, any accounts receivable (including health care insurance receivables), instruments, chattel paper, general intangibles and similar assets (whether now
existing or arising in the future, the “Receivables”) of the Company or any of its Subsidiaries, and any assets related thereto, including, without limitation, all collateral securing such Receivables, all contracts, contract rights and
all guarantees or other obligations in respect of such Receivables, proceeds of such Receivables and any other assets, which are customarily transferred or in respect of which security interests are customarily granted in connection with receivables
financings and asset securitization transactions of such type, together with any related transactions customarily entered into in receivables financings and asset securitizations, including servicing arrangements. 
  
 “Rating Agencies” mean Moody’s and S&P or if Moody’s
or S&P or both shall not make a rating on the Notes publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Company (as certified by a Board Resolution) which shall be substituted
for Moody’s or S&P or both, as the case may be. 
  
 “Receivables” has the meaning set forth in the definition of “Qualified Receivables Transaction.” 
  
 “Receivables Fees” means distributions or payments made directly or by means of discounts with respect to any participation interest issued or
sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Qualified Receivables Transaction. 
  
 “Receivables Subsidiary” means a Subsidiary of the Company that engages in no activities other than in connection with the financing of accounts
receivable and in businesses related or ancillary thereto and that is designated by the Board of Directors of the Company (as provided below) as a Receivables Subsidiary (A) no portion of the Indebtedness or any other Obligations (contingent or
otherwise) of which: 
  
 (1) is guaranteed by the
Company or any Subsidiary of the Company (excluding guarantees of Obligations (other than the principal of, and interest on, Indebtedness) 

  

 25 

 
pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business in connection with a Qualified Receivables
Transaction); 
  
 (2) is recourse to or obligates
the Company or any Subsidiary of the Company in any way other than pursuant to representations, warranties, covenants and indemnities customarily entered into in connection with a Qualified Receivables Transaction; or 
  
 (3) subjects any property or asset of the Company or any
Subsidiary of the Company (other than accounts receivable and related assets as provided in the definition of Qualified Receivables Transaction), directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to
representations, warranties, covenants and indemnities customarily entered into in connection with a Qualified Receivables Transaction; and 
  
 (B) with which neither the Company nor any Subsidiary of the Company has any material contract, agreement, arrangement or understanding other than on terms no less
favorable to the Company or such Subsidiary than those that might be obtained at the time from Persons who are not Affiliates of the Company, other than as may be customary in a Qualified Receivables Transaction including for fees payable in the
ordinary course of business in connection with servicing accounts receivable; and (C) with which neither the Company nor any Subsidiary of the Company has any obligation to maintain or preserve such Subsidiary’s financial condition or
cause such Subsidiary to achieve certain levels of operating results. Any such designation by the Board of Directors of the Company shall be evidenced to the Trustee by filing with the Trustee a certified copy of the resolution of the Board of
Directors of the Company giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the foregoing conditions. 
  
 “Redemption Date”, when used with respect to any Note to be redeemed, in whole or in part, means the date fixed
for such redemption by or pursuant to this Indenture. 
  
 “Redemption Price”, when used with respect to any Note to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture. 
  
 “Refinancing Indebtedness” has the meaning specified in Section 1011 of this Indenture. 
  
 “Refunding Capital Stock” has the meaning specified in
Section 1010 of this Indenture. 
  
 “Registration Rights
Agreement” means the Registration Rights Agreement dated August 11, 2005, among the Company, the Guarantors and the Initial Purchasers and, with respect to any Additional Notes, one or more registration rights agreements among the Company,
the Guarantors and the other parties thereto, as such agreement(s) may be amended, modified or supplemented from time to time, relating to rights given by the Company to the purchasers of Additional Notes to register such Additional Notes under the
Securities Act. 
  
 “Regular Record Date” has the
meaning specified in Section 301 of this Indenture. 
  

 26 

 “Related Business Assets” means non-current assets (including Capital Stock) used or useful in
a Similar Business (and including current assets to the extent held by a Person whose Capital Stock would constitute a Related Business Asset), provided that any non-current assets consisting of Capital Stock of a Person shall not be deemed
to be Related Business Assets unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary. 
  
 “Responsible Officer”, when used with respect to the Trustee, means any Vice President, any assistant treasurer, any trust officer or assistant
trust officer, or any other officer of the Trustee customarily performing functions similar to those performed by any of the above-designated officers, and also means, with respect to a particular corporate trust matter, any other officer to whom
such matter is referred because of his knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture. 
  
 “Restricted Investment” means an Investment other than a Permitted Investment. 
  
 “Restricted Payments” has the meaning specified in
Section 1010 of this Indenture. 
  
 “Restricted
Subsidiary” means, at any time, any direct or indirect Subsidiary of the Company (including any Foreign Subsidiary) that is not then an Unrestricted Subsidiary; provided, however, that upon the occurrence of an Unrestricted
Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be included in the definition of “Restricted Subsidiary”. 
  
 “Retired Capital Stock” has the meaning specified in Section 1010 of this Indenture. 
  
 “S&P” means Standard and Poor’s, a division of McGraw-Hill
Companies, Inc., and any successor to its rating agency business. 
  
 “Sale and Lease-Back Transaction” means any arrangement with any Person providing for the leasing by the Company or any Restricted Subsidiary of any real or tangible personal property, which property has been or is to be sold or
transferred by the Company or such Restricted Subsidiary to such Person in contemplation of such leasing. 
  
 “SEC” 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. 
  
 “Securities Act” means the Securities Act of 1933 and the rules and
regulations of the SEC promulgated thereunder. 
  
 “Senior
Credit Facilities” means the Credit Agreement to be entered into as of the Issue Date by and among the Company, the Restricted Subsidiaries, the lenders party thereto in their capacities as lenders thereunder, JPMorgan Chase Bank, N.A., as
Administrative Agent, 

  

 27 

 
GECC Capital Markets Group, Inc., as Syndication Agent and Banc of America Securities LLC, as Documentation Agent, including any guarantees, collateral
documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements or refundings thereof and any one or more indentures or credit facilities or commercial paper
facilities with banks or other institutional lenders or investors that replace, refund or refinance any part of the loans, notes, credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or
indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 1011). 
  
 “Senior Debt” of any Person means: 
  
 (1) all Indebtedness of such Person outstanding under the Senior Credit Facilities and all Hedging
Obligations with respect thereto, whether outstanding on the Issue Date or incurred thereafter; 
  
 (2) any other Indebtedness of such Person permitted to be incurred 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 Notes or any Guarantee; and 
  
 (3) all Obligations with respect to the items listed in the preceding clauses (1) and (2) (including any interest accruing
subsequent to the filing of a petition of bankruptcy at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under applicable law). 
  
 Notwithstanding anything to the contrary in the preceding paragraph, Senior
Debt shall not include: 
  
 (1) any liability for
federal, state, local or other taxes owed or owing by the Company or any Guarantor; 
  
 (2) any Indebtedness of the Company or any Guarantor to any of their Subsidiaries; 
  
 (3) any trade payables; 
  
 (4) the portion of any Indebtedness that is incurred in
violation of this Indenture; provided that a good faith determination by the Board of Directors of the Company evidenced by a Board Resolution, or a good faith determination by the Chief Financial Officer of the Company evidenced by an
Officers’ Certificate, that any Indebtedness being incurred under the Senior Credit Facilities is permitted by this Indenture shall be conclusive; 
  
 (5) any Indebtedness of the Company or any Guarantor that, when incurred, was without recourse to the Company or such Guarantor;

  

 28 

 (6) any repurchase, redemption or other obligation in respect of Disqualified Stock or
preferred stock; or 
  
 (7) any Indebtedness owed
to any employee of the Company or any of its Subsidiaries. 
  
 “Shelf Registration Statement” means the shelf registration statement as defined in the Registration Rights Agreement. 
  
 “Significant Subsidiary” means any Restricted Subsidiary that would be a “significant subsidiary” as defined in Article 1, Rule 1-02
of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is in effect on the date hereof. 
  
 “Similar Business” means any business conducted or proposed to be conducted by the Company and its Restricted Subsidiaries on the Issue Date (as
described in the Offering Memorandum) or any business that is similar, reasonably related, incidental or ancillary thereto. 
  
 “Special Interest” means all liquidated damages then owing pursuant to the Registration Rights Agreement. 
  
 “Special Interest Notice” has the meaning specified in
Section 1019 hereof. 
  
 “Special Record Date” for
the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 306. 
  
 “Stated Maturity”, when used with respect to any Note or any installment of principal thereof or interest thereon, means the date specified in
such Notes as the fixed date on which the principal of such Notes or such installment of principal or interest is due and payable. 
  
 “Subordinated Indebtedness” means: 
  
 (1) with respect to the Company, any Indebtedness of the Company which is by its terms subordinated in right of payment to the Notes, and

  
 (2) with respect to any Guarantor, any
Indebtedness of such Guarantor which is by its terms subordinated in right of payment to the Guarantee of such Guarantor. 
  
 “Subsidiary” means, with respect to any Person, 
  
 (1) any corporation, association, or other business entity (other than a partnership, joint venture, limited liability company or similar
entity) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time of determination
owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof and 
  

 29 

 (2) any partnership, joint venture, limited liability company or similar entity of which:

  
 (A) more than 50% of the capital accounts,
distribution rights, total equity and voting interests or general or limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a
combination thereof whether in the form of membership, general, special or limited partnership or otherwise, and 
  
 (B) such Person or any Restricted Subsidiary of such Person is a controlling general partner or otherwise controls such entity.

  
 “Successor Company” has the meaning specified in
Section 801 of this Indenture. 
  
 “Successor
Person” has the meaning specified in Section 802 of this Indenture. 
  
 “Termination Fees” means the one-time payment under the Management Agreement of a termination fee to one or more of the Investors and their Affiliates (other than portfolio companies) in the event of either
a Change of Control or the completion of a registered initial public offering of the common stock of the Company or any of its direct or indirect parents. 
  
 “Total Assets” means the total assets of the Company and its Restricted Subsidiaries, as shown on the most recent balance sheet of the Company
prepared in conformity with GAAP. 
  
 “Transactions”
means the transactions contemplated by the Merger Agreement, the Notes offered hereby and the Senior Credit Facilities as described in the Offering Memorandum. 
  

“Treasury Rate” means, as of any redemption date, the yield to maturity as of such redemption date 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 of similar market data)) most nearly equal to the period from the redemption date to August 15, 2009; provided, however, that if the period from the redemption date to August 15, 2009,
is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used. 
  

“Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939 as in force at the date as of which this Indenture was
executed, except as provided in Section 905. 
  
 “Trustee” means U.S. Bank National Association, until a successor replaces it and, thereafter, means the successor. 
  
 “Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from time to time. 
  

 30 

 “Unrestricted Subsidiary” means: 
  
 (1) any Subsidiary of the Company which at the time of determination is an Unrestricted Subsidiary (as
designated by the Board of Directors of the Company, as provided below), and 
  
 (2) any Subsidiary of an Unrestricted Subsidiary. 
  
 The Board of Directors of the Company may designate any Subsidiary of the Company (including any existing Subsidiary and any newly acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary unless such
Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any lien on, any property of, the Company or any Subsidiary of the Company (other than any Subsidiary of the Subsidiary to be so designated),
provided that 
  
 (1) such designation
complies with Section 1010, and 
  
 (2) each
of the Subsidiary to be so designated and its Subsidiaries has not at the time of designation, and does not thereafter, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable with respect to any Indebtedness
pursuant to which the lender has recourse to any of the assets of the Company or any Restricted Subsidiary. 
  
 The Board of Directors of the Company may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that, immediately after
giving effect to such designation no Default or Event of Default shall have occurred and be continuing and either: 
  
 (1) the Company could incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test described in
Section 1011(a), or 
  
 (2) the Fixed Charge
Coverage Ratio for the Company and its Restricted Subsidiaries would be higher than such ratio for the Company and its Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such
designation. 
  
 Any such designation by the Board of Directors of
the Company shall be notified 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. 
  
 “U.S. Person” means a U.S.
Person as defined in Rule 902(k) promulgated under the Securities Act. 
  
 “Vice President”, when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title “vice president”. 
  
 “Voting Stock” of any Person as of any date means the Capital Stock
of such Person that is at the time entitled to vote in the election of the Board of Directors of such Person. 
  

 31 

 “Weighted Average Life to Maturity” means, when applied to any Indebtedness, Disqualified Stock
or preferred stock, as the case may be, at any date, the quotient obtained by dividing: 
  
 (1) the sum of the products of the number of years from the date of determination to the date of each successive scheduled principal
payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock or preferred stock multiplied by the amount of such payment, by 
  
 (2) the sum of all such payments. 
  
 “Wholly Owned Subsidiary” of any Person means a Subsidiary of such Person, 100% of the outstanding Capital Stock
or other ownership interests of which (other than directors’ qualifying shares and shares issued to foreign nationals as required by applicable law) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries of such
Person. 
  
 SECTION 103. Compliance Certificates and
Opinions. Upon any application or request by the Company to the Trustee to take or refrain from taking any action under this Indenture, at the request of the Trustee, the Company shall furnish to the Trustee an Officers’ Certificate stating
that all conditions precedent, if any, provided for in this Indenture (including any covenant compliance with which constitutes a condition precedent) relating to the proposed action have been satisfied and, other than in connection with the
authentication of the Initial Notes, an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been satisfied, 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. 
  
 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other
than pursuant to Section 1008(a)) shall include: 
  
 (1) a statement that each individual signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 
  
 (2) a brief statement as to the nature and scope of the examination or investigation upon which the
statements or opinions contained in such certificate or opinion are based; 
  
 (3) a statement that, in the opinion of each such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition
has been satisfied; and 
  
 (4) a statement as to
whether, in the opinion of each such individual, such condition or covenant has been satisfied. 
  
 SECTION 104. 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 

  

 32 

 
such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters
and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
  
 Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous.
Any such certificate or opinion 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 stating that the information with respect to such factual matters
is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 
  
 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 105. Acts of Holders. (a) Any request, demand, authorization, direction, notice, consent, waiver or
other action provided by this Indenture to be given 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 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. 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 conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 
  
 (b) 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 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 that the Trustee deems sufficient. 
  
 (c) The principal amount and serial numbers of Notes held by any Person, and the date of holding the same, shall be proved by the Note Register. 
  
 (d) If the Company shall solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or
other Act, the Company may, at its option, by or pursuant to a Board Resolution, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other 

  

 33 

 
Act, but the Company shall have no obligation to do so. Notwithstanding TIA Section 316(c), such record date shall be the record date specified in or
pursuant to such Board Resolution, which shall be a date not earlier than the date 30 days prior to the first solicitation of Holders generally in connection therewith and not later than the date such solicitation is completed. If such a record date
is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the close of business on such record date shall be deemed to be Holders
for the purposes of determining whether Holders of the requisite proportion of Outstanding Notes have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the
Outstanding Notes shall be computed as of such record date; provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it shall become effective pursuant to the provisions of
this Indenture not later than eleven months after the record date. Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Note shall bind every future Holder of the same Note and the Holder of every
Note 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, the Company or any Guarantor in reliance thereon, whether or not notation of
such action is made upon such Note. 
  
 SECTION 106. Notices,
Etc., to Trustee, Company, any Guarantor and Agent. 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 via facsimile) to or with the Trustee at U.S. Bank National Association, 60 Livingston Avenue, EP-MN-WS3C,
St. Paul, MN 55107-2292, Attention: Richard Prokosch, or 
  
 (2) the Company or any Guarantor by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if made, given, furnished or delivered in writing and
mailed, first-class postage prepaid, or delivered by recognized overnight courier, to the Company or such Guarantor addressed to it at the address of its principal office specified in the introductory paragraph of this Indenture, Attention: General
Counsel, or at any other address previously furnished in writing to the Trustee by the Company or such Guarantor. 
  
 SECTION 107. Notice to Holders; Waiver. Where this Indenture provides for notice of any event to Holders by the Company or the Trustee, 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 Note Register, not later than the latest date,
and not earlier than the earliest date, 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. Notices given by publication shall be 

  

 34 

 
deemed given on the first date on which publication is made and notices given by first-class mail, postage prepaid, shall be deemed given five calendar days
after mailing. 
  
 In case by reason of the suspension of or
irregularities in regular mail service or by reason of any other cause, it shall be impracticable to mail notice of any event to Holders when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving
such notice as shall be satisfactory to the Trustee shall be deemed to be a sufficient giving of such notice for every purpose hereunder. 
  
 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. 
  
 SECTION 108. Effect of Headings and Table of
Contents. The Article and Section headings herein, the Table of Contents and the reconciliation and tie between the TIA and this Indenture are for convenience of reference only, are not intended to be considered a part hereof and shall not
affect the construction hereof. 
  
 SECTION 109. Successors and
Assigns. All agreements of the Company in this Indenture and the Notes shall bind its successors. All agreements of the Trustee in this Indenture shall bind its successors. All agreements of each Guarantor in this Indenture will bind its
successors, except as otherwise provided in Section 1208 hereof. 
  
 SECTION 110. Separability Clause. In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. 
  
 SECTION 111. Benefits of
Indenture. Nothing in this Indenture or in the Notes, express or implied, shall give to any Person, other than the parties hereto, any Paying Agent, any Notes Registrar and their successors hereunder and the Holders any benefit or any legal or
equitable right, remedy or claim under this Indenture. 
  
 SECTION
112. Governing Law. THIS INDENTURE, THE NOTES AND ANY GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. This Indenture is subject to the provisions of the Trust Indenture Act that are required
to be part of this Indenture and shall, to the extent applicable, be governed by such provisions. 
  
 SECTION 113. Consent to Jurisdiction. Any legal suit, action or proceeding arising out of or based upon this Indenture or the transactions
contemplated hereby may be instituted in the federal courts of the United States of America located in the City of New York or the courts of the State of New York in each case located in the City of New York (collectively, the “Specified
Courts”), and each party irrevocably submits to the non-exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail (to the extent allowed under any applicable
statute or rule of court) to such party’s address set forth above shall be effective service of process for any suit, 

  

 35 

 
action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit,
action or other proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim in any such court has been brought in an inconvenient forum. 
  
 SECTION 114. Legal Holidays. In any case where any Interest Payment Date, Redemption Date or Stated Maturity or
Maturity of any Note shall not be a Business Day, then (notwithstanding any other provision of this Indenture or of the Notes) payment of principal (or premium, if any) or interest 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 the Interest Payment Date, Redemption Date, or at the Stated Maturity or Maturity; provided that no interest shall accrue for purposes of such payment for the period from
and after such Interest Payment Date, Redemption Date, Stated Maturity or Maturity, as the case may be. 
  
 SECTION 115. No Personal Liability of Directors, Officers, Employees and Stockholders. No director, officer, employee, incorporator, member,
partner or stockholder of the Company or any Guarantor or any of their direct or indirect parents shall have any liability for any obligations of the Company or the Guarantors under the Notes, the Guarantees or this Indenture or for any claim based
on, in respect of, or by reason of such obligations or their creation to the extent permitted by applicable law. Each Holder by accepting a Note and the related Guarantee waives and releases all such liability to the extent permitted by applicable
law. The waiver and release are part of the consideration for issuance of the Notes and the Guarantees. Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is
against public policy. 
  
 SECTION 116. 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. If any provision of this Indenture
modifies or excludes any provision of the TIA that may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or excluded, as the case may be. 
  
 SECTION 117. Counterparts. This Indenture may be executed in any
number of counterparts, each of which shall be original; but such counterparts shall together constitute but one and the same instrument. One signed copy is enough to prove this Indenture. 
  
 ARTICLE TWO 
  
 NOTE FORMS 
  
 SECTION 201. Form and Dating. Provisions relating to the Initial
Notes, the Private Exchange Notes and the Exchange Notes are set forth in the Rule 144A / Regulation S / IAI Appendix attached hereto (the “Appendix”) which is hereby incorporated in, and expressly made part of, this Indenture. The Initial
Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit 1 to the Appendix which is hereby incorporated in, and expressly made a part of, this Indenture. The Exchange Notes, the Private Exchange Notes
and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A, which is 

  

 36 

 
hereby incorporated in and expressly made a part of this Indenture. The Notes may have notations, legends or endorsements required by law, stock exchange
rule, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form reasonably acceptable to the Company). Each Note shall be dated the date of its authentication. The terms
of the Note set forth in the Appendix and Exhibit A are part of the terms of this Indenture. 
  
 SECTION 202. Execution, Authentication, Delivery and Dating. The Notes shall be executed on behalf of the Company by any two Officers. The signature of any Officer on the Notes may be manual or facsimile
signatures of the present or any future such authorized officer and may be imprinted or otherwise reproduced on the Notes. 
  
 Notes bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the Company,
notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. 
  
 At any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Notes executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Notes, and the Trustee in accordance with such Company Order shall
authenticate and deliver such Notes. 
  
 On the Issue Date, the
Company shall deliver the Initial Notes in the aggregate principal amount of $150,000,000 executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Notes, directing the
Trustee to authenticate the Notes and certifying that all conditions precedent to the issuance of Notes contained herein have been fully satisfied, and the Trustee in accordance with such Company Order shall authenticate and deliver such Initial
Notes. At any time and from time to time after the Issue Date, the Company may deliver Additional Notes executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Additional
Notes, directing the Trustee to authenticate the Additional Notes and certifying that the issuance of such Additional Notes is in compliance with Article Ten hereof and that all other conditions precedent to the issuance of Notes contained herein
have been fully satisfied, and the Trustee in accordance with such Company Order shall authenticate and deliver such Additional Notes. On Company Order, the Trustee shall authenticate for original issue Exchange Notes in an aggregate principal
amount not to exceed $150,000,000 plus the aggregate principal amount of any Additional Notes issued; provided that such Exchange Notes shall be issuable only upon the valid surrender for cancellation of Initial Notes and any Additional Notes
of a like aggregate principal amount in accordance with an Exchange Offer pursuant to the Registration Rights Agreement and a Company Order for the authentication and delivery of such Exchange Notes and certifying that all conditions precedent to
the issuance of such Exchange Notes are satisfied (including the effectiveness of the Exchange Offer Registration Statement related thereto). In each case, the Trustee shall receive an Officers’ Certificate and an Opinion of Counsel of the
Company that it may reasonably require in connection with such authentication of Notes. Such Company Order shall specify the amount of Notes to be authenticated and the date on which the original issue of Notes is to be authenticated. 
  

 37 

 Each Note shall be dated the date of its authentication. 
  
 No Note shall be entitled to any benefit under this Indenture or be valid or
obligatory for any purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein duly executed by the Trustee by manual signature of an authorized officer, and such certificate upon any Note
shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture. 
  
 In case the Company or any Guarantor, pursuant to Article Eight of this Indenture, shall be consolidated or merged with or
into any other Person or shall convey, transfer, lease or otherwise dispose of its properties and assets substantially as an entirety to any Person, and the Successor Person resulting from such consolidation, or surviving such merger, or into which
the Company or such Guarantor shall have been merged, or the Person which shall have received a conveyance, transfer, lease or other disposition as aforesaid, shall have executed a supplemental indenture hereto with the Trustee pursuant to Article
Eight of this Indenture, any of the Notes authenticated or delivered prior to such consolidation, merger, conveyance, transfer, lease or other disposition may, from time to time, at the request of the Successor Person, be exchanged for other Notes
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 Notes surrendered for such exchange and of like principal amount; and the Trustee, upon
Company Request of the Successor Person, shall authenticate and deliver Notes as specified in such request for the purpose of such exchange. If Notes shall at any time be authenticated and delivered in any new name of a Successor Person pursuant to
this Section in exchange or substitution for or upon registration of transfer of any Notes, such Successor Person, at the option of the Holders but without expense to them, shall provide for the exchange of all Notes at the time Outstanding for
Notes authenticated and delivered in such new name. 
  
 ARTICLE
THREE 
  
 THE NOTES 
  
 SECTION 301. Title and Terms. The aggregate principal amount of Notes
which may be authenticated and issued under this Indenture is not limited; provided, however that any Additional Notes issued under this Indenture are issued in accordance with Sections 202 and 1011 hereof, as part of the same series
as the Initial Notes. 
  
 The Notes shall be known and designated
as the “9 1/4% Senior Subordinated Notes Due 2013” of the Company. The Stated Maturity of the Notes
shall be August 15, 2013, and the Notes shall bear interest at the rate of 9 1/4% per annum from
August 11, 2005, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, payable on February 15, 2006 and semi-annually thereafter on February 15 and August 15 in each year and at said
Stated Maturity, until the principal thereof is paid or duly provided for and to the Person in whose name the Note (or any Predecessor Note) is registered at the close of business on the February 1 and August 1 immediately preceding such
Interest Payment Date (each, a “Regular Record Date”). 
  

 38 

 The principal of (and premium, if any), interest and Special Interest, if any, on the Notes shall be
payable at the office or agency of the Company maintained for such purpose in The City and State of New York or, at the option of the Company, payment of interest may be made by check mailed to the Holders of the Notes at their respective addresses
set forth in the Note Register of Holders; provided that all payments of principal, premium, if any, and interest and Special Interest, if any, with respect to Notes represented by one or more permanent Global Notes registered in the name of
or held by Depositary or its nominee shall be made by wire transfer of immediately available funds to the accounts specified by the Holder or Holders thereof. Until otherwise designated by the Company, the Company’s office or agency in New York
shall be the office of the Trustee maintained for such purpose. 
  
 Holders shall have the right to require the Company to purchase their Notes, in whole or in part, in the event of a Change of Control pursuant to Section 1017. The Notes shall be subject to repurchase pursuant to an Offer to Purchase
as provided in Section 1018. 
  
 The Notes shall be
redeemable as provided in Article Eleven. 
  
 The due and punctual
payment of principal of, premium, if any, and interest on the Notes payable by the Company is irrevocably unconditionally guaranteed, to the extent set forth herein, by each of the Guarantors. 
  
 SECTION 302. Denominations. The Notes shall be issuable only in
registered form without coupons and only in denominations of $1,000 and any integral multiple thereof. 
  
 SECTION 303. Temporary Notes. Pending the preparation of definitive Notes, the Company may execute, and upon Company Order the Trustee shall
authenticate and deliver, temporary Notes which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Notes in lieu of which they are issued and with
such appropriate insertions, omissions, substitutions and other variations as the officers executing such Notes may determine, as conclusively evidenced by their execution of such Notes. 
  
 If temporary Notes are issued, the Company shall cause definitive Notes to be prepared without unreasonable delay. After the
preparation of definitive Notes, the temporary Notes shall be exchangeable for definitive Notes upon surrender of the temporary Notes at the office or agency of the Company designated for such purpose pursuant to Section 1002, without charge to
the Holder. Upon surrender for cancellation of any one or more temporary Notes, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Notes of authorized denominations.
Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits under this Indenture as definitive Notes. 
  
 SECTION 304. Registration, Registration of Transfer and Exchange. The Company shall cause to be kept at the Corporate Trust Office of the Trustee a
register (the register maintained in such office and in any other office or agency designated pursuant to Section 1002 being herein sometimes referred to as the “Note Register”) in which, subject to such reasonable regulations as it
may prescribe, the Company shall provide for the registration of 

  

 39 

 
Notes and of transfers of Notes. The Note Register shall be in written form or any other form capable of being converted into written form within a
reasonable time. At all reasonable times, the Note Register shall be open to inspection by the Trustee. The Trustee is hereby initially appointed as note registrar (the “Note Registrar”) for the purpose of registering Notes and transfers
of Notes as herein provided. 
  
 Upon surrender for registration
of transfer of any Note at the office or agency of the Company designated pursuant to Section 1002, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more
new Notes of any authorized denomination or denominations of a like aggregate principal amount. 
  
 At the option of the Holder, Notes may be exchanged for other Notes of any authorized denomination and of a like aggregate principal amount, upon
surrender of the Notes to be exchanged at such office or agency. Whenever any Notes are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Notes which the Holder making the exchange is
entitled to receive; provided that no exchange of Notes for Exchange Notes shall occur until an Exchange Offer Registration Statement shall have been declared effective by the SEC, the Trustee shall have received an Officers’ Certificate
confirming that the Exchange Offer Registration Statement has been declared effective by the SEC and the Initial Notes to be exchanged for the Exchange Notes shall be cancelled by the Trustee. 
  
 All Notes issued upon any registration of transfer or exchange of Notes shall
be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of transfer or exchange. 
  
 Every Note presented or surrendered for registration of transfer or for
exchange shall (if so required by the Company or the Note Registrar) be duly endorsed, or be accompanied by written instruments of transfer, in form satisfactory to the Company and the Note 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 or redemption of Notes, but the Company may require payment of a sum sufficient to cover any taxes, fees or other governmental charge that may be imposed in connection with any registration of
transfer or exchange of Notes, other than exchanges pursuant to Sections 202, 303, 906, 1017, 1018, or 1108 not involving any transfer. 
  
 SECTION 305. Mutilated, Destroyed, Lost and Stolen Notes. If (1) any mutilated Note is surrendered to the Trustee, or (2) the Company and
the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Note, and there is delivered to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, then, in the
absence of notice to the Company or the Trustee that such Note has been acquired by a Protected Purchaser (as defined in Section 8-303 of the Uniform Commercial Code) (a “Protected Purchaser”), the Company shall execute and upon
Company Order the Trustee shall authenticate and deliver, in exchange for any such mutilated Note or in 

  

 40 

 
lieu of any such destroyed, lost or stolen Note, a new Note of like tenor and principal amount, bearing a number not contemporaneously outstanding.

  
 In case any such mutilated, destroyed, lost or stolen Note has
become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Note, pay such Note. 
  
 Upon the issuance of any new Note 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 Note issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen Note shall constitute an original additional
contractual obligation of the Company and each Guarantor, whether or not the mutilated, destroyed, lost or stolen Note 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 Notes 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 Notes. 
  
 SECTION 306. Payment of Interest; Interest Rights Preserved.
(a) Interest on any Note 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 Note (or one or more Predecessor Notes) 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 1002; provided, however, that, subject to Section 301 hereof, each installment of interest
may at the Company’s option be paid by (1) mailing a check for such interest, payable to or upon the written order of the Person entitled thereto pursuant to Section 307, to the address of such Person as it appears in the Note
Register or (2) transfer to an account located in the United States maintained by the payee. 
  
 (b) Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be
payable to the Holder on the Regular Record Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the Notes (such defaulted interest and interest
thereon herein collectively called “Defaulted Interest”) may be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: 
  
 (1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Notes
(or their respective Predecessor Notes) 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 Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid 

  

 41 

 
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 in the manner provided for in Section 107, 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 Notes (or their
respective Predecessor Notes) 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 in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner
of payment shall be deemed practicable by the Trustee. 
  
 (c)
Subject to the foregoing provisions of this Section 306, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to
accrue, which were carried by such other Note. 
  
 SECTION 307.
Persons Deemed Owners. Prior to the due presentment of a Note for registration of transfer, the Company, any Guarantor, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Note is registered as the
owner of such Note for the purpose of receiving payment of principal of (and premium, if any) and (subject to Sections 304 and 306) interest on such Note and for all other purposes whatsoever, whether or not such Note be overdue, and none of the
Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the contrary. 
  
 SECTION 308. Cancellation. All Notes surrendered for payment, redemption, registration of transfer or exchange shall, if surrendered to any Person
other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Notes 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 Notes previously authenticated hereunder which the Company has not issued and sold, and all Notes so
delivered shall be promptly cancelled by the Trustee. If the Company shall so acquire any of the Notes, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Notes unless and until the
same are surrendered to the Trustee 

  

 42 

 
for cancellation. No Notes shall be authenticated in lieu of or in exchange for any Notes cancelled as provided in this Section, except as expressly
permitted by this Indenture. All cancelled Notes held by the Trustee shall be disposed of by the Trustee in accordance with its customary procedures unless by Company Order the Company shall direct that cancelled Notes be returned to it. 

 
 SECTION 309. Computation of Interest. Interest on the Notes shall
be computed on the basis of a 360-day year of twelve 30-day months. 
  
 SECTION 310. Transfer and Exchange. The Notes shall be issued in registered form and shall be transferable only upon the surrender of a Note for registration of transfer. When a Note is presented to the Notes Registrar or a
co-registrar with a request to register a transfer, the Notes Registrar shall register the transfer as requested if the requirements of this Indenture and Section 8-401(a) of the Uniform Commercial Code are met. When Notes are presented to the
Notes Registrar or a co-registrar with a request to exchange them for an equal principal amount of Notes of other denominations, the Notes Registrar shall make the exchange as requested if the same requirements are met. 
  
 SECTION 311. CUSIP Numbers. The Company in issuing the Notes may use
“CUSIP” numbers, ISINs and “Common Code” numbers (in each case, if then generally in use) in addition to serial numbers, and, if so, the Trustee shall use such “CUSIP” numbers, ISINs and “Common Code” numbers
in addition to serial numbers in notices of redemption, repurchase or other notices to Holders as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such “CUSIP”
numbers, ISINs and “Common Code” numbers either as printed on the Notes or as contained in any notice of a redemption or repurchase and that reliance may be placed only on the serial or other identification numbers printed on the Notes,
and any such redemption or repurchase shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee in writing of any change in the “CUSIP” numbers, ISINs and “Common Code”
numbers applicable to the Notes. 
  
 SECTION 312. Issuance of
Additional Notes. The Company may, subject to Section 1011 of this Indenture, issue additional Notes having identical terms and conditions to the Initial Notes issued on the Issue Date (the “Additional Notes”); provided,
however, that no Additional Notes may be issued at a price that would cause such Additional Notes to have “original issue discount” within the meaning of Section 1273 of the Code. The Initial Notes issued on the Issue Date and
any Additional Notes subsequently issued shall be treated as a single class for all purposes under this Indenture. Exchange Notes issued in exchange for Initial Notes issued on the Issue Date and Exchange Notes issued for any Additional Notes
subsequently issued shall be treated as a single class for all purposes under this Indenture. 
  
 ARTICLE FOUR 
  
 SATISFACTION AND DISCHARGE 
  
 SECTION 401.
Satisfaction and Discharge of Indenture. This Indenture shall upon Company Request and at the Company’s expense cease to be of further effect (except as set 

  

 43 

 
forth in the last paragraph of this Section and as to surviving rights of registration of transfer or exchange of Notes expressly provided for herein or
pursuant hereto) and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture when either: 
  
 (a) all Notes theretofore authenticated and delivered (other than (i) Notes which have been destroyed, lost or stolen
and which have been replaced or paid as provided in Section 305 and (ii) Notes for whose payment money has theretofore been deposited in trust with the Trustee or any Paying Agent or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 
  
 (b) (1) all such Notes not theretofore delivered to the Trustee for cancellation (i) have become due and payable by reason of the making of a notice
of redemption pursuant to Section 1105 or otherwise, (ii) or will become due and payable at their Stated Maturity within one year, or (iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee
for the giving of notice of redemption by the Trustee in the name, and at the expense of, the Company, and the Company or any Guarantor, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be deposited with the
Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars, non-callable Government Securities, or a combination thereof, in such amounts as shall be sufficient without consideration of any reinvestment of interest
to pay and discharge the entire indebtedness on such Notes not theretofore delivered to the Trustee for cancellation, for principal (and premium, if any) and interest to the date of such deposit (in the case of Notes which have become due and
payable) or to the Stated Maturity or Redemption Date, as the case may be; 
  
 (2) no Default (other than that resulting from borrowing funds to be applied to make such deposit and the granting of any Liens to secure such borrowing) with respect to this Indenture or the Notes shall have occurred
and be continuing on the date of such deposit or shall occur as a result of such deposit and such deposit shall not result in a breach or violation of, or constitute a default under the Credit Facilities any other material agreement or instrument
(other than this Indenture) to which the Company or any Restricted Subsidiary is a party or by which the Company or any Restricted Subsidiary is bound; 
  
 (3) the Company has paid or caused to be paid all sums payable by it under this Indenture; 
  
 (4) the Company has delivered irrevocable instructions to
the Trustee under this Indenture to apply the deposited money toward the payment of such Notes at the Stated Maturity or the Redemption Date, as the case may be; and 
  
 (5) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that all conditions precedent herein to the satisfaction and discharge of this Indenture have been satisfied. 
  

 44 

 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the
Trustee under Section 607, the obligations of the Company to any Authenticating Agent under Section 612 and, if money or Government Securities shall have been deposited with the Trustee pursuant to clause (b)(1) of this Section, the
obligations of the Trustee under Section 402 and the last paragraph of Section 1003 shall survive such satisfaction and discharge. 
  
 SECTION 402. Application of Trust Money. Subject to the provisions of the last paragraph of Section 1003, all money or Government Securities
deposited with the Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money or Government Securities has been deposited with the Trustee; but such
money or Government Securities need not be segregated from other funds except to the extent required by law. 
  
 If the Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with Section 401 by reason of any legal proceeding
or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s and any Guarantor’s obligations under this Indenture and the Notes shall be
revived and reinstated as though no deposit had occurred pursuant to Section 401 until such time as the Trustee or Paying Agent is permitted to apply all such money or Government Securities in accordance with Section 401; provided
that if the Company has made any payment of principal of, premium, if any, or interest on any Notes because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such
payment from the money or Government Securities held by the Trustee or Paying Agent. 
  
 ARTICLE FIVE 
  
 REMEDIES

  
 SECTION 501. Events of Default. “Event of
Default”, wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall 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 payment when due and payable, upon redemption, acceleration or otherwise, of principal of, or premium, if any, on the Notes issued under this Indenture, whether or not prohibited by the provisions of
Article 14; 
  
 (2) default for 30 days or more
in the payment when due of interest on or with respect to the Notes issued under this Indenture, whether or not prohibited by the provisions of Article 14; 
  
 (3) failure by the Company to comply with its obligations under Section 801; 
  

 45 

 (4) failure by the Company or any Guarantor for 60 days after receipt of written notice
given by the Trustee or the Holders of not less than 30% in principal amount of the Notes then Outstanding and issued under this Indenture to comply with any of its other agreements contained in this Indenture or the Notes; 
  
 (5) default under any mortgage, indenture or instrument
under which there is issued or by which there is secured or evidenced any Indebtedness for money borrowed by the Company or any Restricted Subsidiary or the payment of which is guaranteed by the Company or any Restricted Subsidiary, other than
Indebtedness owed to the Company or a Restricted Subsidiary, whether such Indebtedness or guarantee now exists or is created after the Issue Date, if both: 
  
 (A) such default either results from the failure to pay any such Indebtedness at its stated final maturity (after giving effect to any
applicable grace periods) or relates to an obligation other than the obligation to pay principal of any such Indebtedness at its stated final maturity and results in the holder or holders of such Indebtedness causing such Indebtedness to become due
prior to its stated maturity and 
  
 (B) the
principal amount of such Indebtedness, together with the principal amount of any other such Indebtedness in default for failure to pay principal at stated final maturity (after giving effect to any applicable grace periods), or the maturity of which
has been so accelerated, aggregate $25.0 million or more at any one time outstanding; 
  
 (6) failure by the Company or any Significant Subsidiary to pay final judgments (other than to the extent covered by insurance policies
issued by reputable and creditworthy insurance companies) aggregating in excess of $25.0 million, which final judgments remain unpaid, undischarged and unstayed for a period of more than 60 days after such judgment becomes final, and in the event
such judgment is covered by insurance, an enforcement proceeding has been commenced by any creditor upon such judgment or decree which is not promptly stayed; 
  

(7) any of the following events with respect to the Company or any Significant Subsidiary: 
  
 (A) the Company or any Significant Subsidiary pursuant to or
within the meaning of any Bankruptcy Law: 
  
 (i) commences a voluntary case; 
  
 (ii) consents to the entry of an order for relief against it in an involuntary case; 
  
 (iii) consents to the appointment of a custodian of it or for any substantial part of its property; 
  

 46 

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

  
 (B) a court of competent jurisdiction enters
an order or decree under any Bankruptcy Law that: 
  
 (i) is for relief against the Company or any Significant Subsidiary in an involuntary case; 
  
 (ii) appoints a custodian of the Company or any Significant Subsidiary or for any substantial part of its property; or 
  
 (iii) orders the winding up or liquidation of the Company
or any Significant Subsidiary; 
  
 and the order
or decree remains unstayed and in effect for 60 days; or 
  
 (8) the Guarantee of any Significant Subsidiary shall for any reason cease to be in full force and effect or be declared null and void or any Officer of any Guarantor that is a Significant Subsidiary, as the case may
be, denies that it has any further liability under its Guarantee or gives notice to such effect, other than by reason of the termination of this Indenture or the release of any such Guarantee in accordance with this Indenture. 
  
 SECTION 502. Acceleration of Maturity; Rescission and Annulment.
(a) If any Event of Default (other than an Event of Default specified in Section 501(7) above) occurs and is continuing, then and in every such case the Trustee or the Holders of at least 30% in principal amount of the Outstanding Notes
issued under this Indenture may declare the principal, premium, if any, interest and any other monetary obligations on all the Outstanding Notes to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by
Holders); provided, however, that so long as any Indebtedness permitted to be incurred pursuant to the Senior Credit Facilities shall be outstanding, that acceleration shall not be effective until the earlier of (1) an acceleration of
Indebtedness under the Senior Credit Facilities; or (2) five Business Days after receipt by the Company and the agent under the Senior Credit Facilities of written notice of the acceleration of the Notes. 
  
 (b) Upon the effectiveness of such declaration, such principal and interest
shall be due and payable immediately. Notwithstanding the foregoing, if an Event of Default specified in Section 501(7) above occurs and is continuing, then the principal amount of all Outstanding Notes shall ipso facto become and be
immediately due and payable without any notice, declaration or other act on the part of the Trustee or any Holder. 
  
 (c) At any time after a declaration of acceleration has been made and before a judgment or decree for payment of the money due has been obtained by the
Trustee as hereinafter provided in this Article, the Holders of a majority in aggregate principal amount of the Outstanding Notes, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:

  
 (1) the Company has paid or deposited with
the Trustee a sum sufficient to pay: 
  
 (A) all
overdue interest on all Outstanding Notes, 
  

 47 

 (B) all unpaid principal of (and premium, and Special Interest, if any, on) any
Outstanding Notes which has become due otherwise than by such declaration of acceleration, and interest on such unpaid principal at the rate borne by the Notes, 
  
 (C) to the extent that payment of such interest is lawful, interest on overdue interest at the rate borne by
the Notes, and 
  
 (D) all sums paid or advanced
by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and 
  
 (2) Events of Default, other than the non-payment of amounts of principal of (or premium, if any, on) or interest on Notes which have
become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513, 
  
 no such rescission shall affect any subsequent default or impair any right consequent thereon. 
  
 (d) Notwithstanding Section 501(c), in the event of any Event of Default specified in Section 501(5) above, such
Event of Default and all consequences thereof (excluding any payment default on the Notes that did not result solely from non-payment of principal or interest on the Notes due to acceleration of the Notes under Section 501(5) above) shall be
annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders, if within 20 days after such Event of Default arose: 
  
 (1) the Indebtedness or guarantee that is the basis for such Event of Default has been discharged, 
  
 (2) the holders thereof have rescinded or waived the
acceleration, notice or action (as the case may be) giving rise to such Event of Default, or 
  
 (3) if the default that is the basis for such Event of Default has been cured or waived. 
  
 (e) The Trustee shall have no obligation to declare the principal, premium,
if any, interest and any other monetary obligations on all the Outstanding Notes to be due and payable immediately pursuant to this Section 502 if a committee of Responsible Officers of the Trustee in good faith determine that such acceleration
is not in the best interest of the Holders. 
  
 SECTION 503.
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if: 
  
 (1) default is made in the payment of any installment of interest on any Note when such interest becomes due and payable and such default
continues for a period of 30 days, or 
  

 48 

 (2) default is made in the payment of the principal of (or premium, or Special Interest,
if any, on) any Note at the Maturity thereof, 
  
 the Company shall, upon demand
of the Trustee, pay to the Trustee for the benefit of the Holders of such Notes, the whole amount then due and payable on such Notes for principal (and premium, if any) and interest, and interest on any overdue principal (and premium, if any) and,
to the extent that payment of such interest shall be legally enforceable, upon any overdue installment of interest, at the rate borne by the Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses
of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
  
 If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name as trustee of an express trust, may institute a judicial
proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company, any Guarantor or any other obligor upon the Notes and collect the moneys adjudged or
decreed to be payable in the manner provided by law out of the property of the Company, any Guarantor or any other obligor upon the Notes, wherever situated. 
  
 If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders
under this Indenture and the Guarantees by such appropriate judicial proceedings as the Trustee shall deem necessary to protect and enforce any such rights, including seeking recourse against any Guarantor, 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, including seeking recourse against any Guarantor. 
  
 SECTION 504. Trustee May File Proofs of Claim. In case of the pendency of any receivership, insolvency, liquidation,
bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor including any Guarantor, upon the Notes or the property of the Company or of such other obligor or their
creditors, the Trustee (irrespective of whether the principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the
payment of overdue principal, premium, if any, or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, 
  
 (1) to file and prove a claim for the whole amount of principal (and premium, if any) and interest owing and unpaid in respect of the
Notes and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and of the Holders allowed in such judicial proceeding, and 
  
 (2) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; 
  

 49 

 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or 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 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 607. 
  
 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
  
 SECTION 505. Trustee May Enforce Claims Without Possession of Notes.
All rights of action and claims under this Indenture or the Notes may be prosecuted and enforced by the Trustee without the possession of any of the Notes or the production thereof in any proceeding relating thereto, and any such proceeding
instituted by the Trustee shall be brought in its own name and 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 in respect of which such judgment has been recovered. 
  
 SECTION 506. Application of Money Collected. Any money or property 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 premium, if any) or interest, upon presentation of the Notes and the notation thereon of the payment if only
partially paid and upon surrender thereof if fully paid: 
  
 FIRST: To the payment of all amounts due the Trustee under Section 607; 
  
 SECOND: To the payment of the amounts then due and unpaid for principal of (and premium, if any) and interest on the Notes 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 Notes for principal (and premium, if any) and interest, respectively;
and 
  
 THIRD: The balance, if any, to the
Company or as a court of competent jurisdiction may direct in writing; provided that all sums due and owing to the Holders and the Trustee have been paid in full as required by this Indenture. 
  
 SECTION 507. Limitation on Suits. Except to enforce the right to
receive payment of principal, premium (if any) or interest when due, no Holder of any Notes 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 the Trustee notice that an Event of Default is continuing; 
  

 50 

 (2) Holders of at least 30% in principal amount of the Outstanding Notes have requested
the Trustee to pursue the remedy; 
  
 (3) such
Holders have offered the Trustee reasonable security or indemnity reasonably satisfactory to it against any loss, liability or expense; 
  
 (4) the Trustee has not complied with such request within 60 days after the receipt thereof and the offer of security or indemnity; and

  
 (5) Holders of a majority in principal amount
of the Outstanding Notes have not given the Trustee a direction inconsistent with such request within such 60-day period, 
  
 it being understood and intended that 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
or the Guarantees to affect, disturb or prejudice the rights of any other Holders, or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture or the Guarantees, except in the manner
herein provided and for the equal and ratable benefit of all the Holders (it being further understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such
Holders). 
  
 SECTION 508. Unconditional Right of Holders to
Receive Principal, Premium and Interest. Notwithstanding any other provision in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment, as provided herein (including, if applicable,
Article Eleven) and in such Note of the principal of (and premium, if any) and (subject to Section 306) interest on such Note on the respective Stated Maturities expressed in such Note (or, in the case of redemption, on the Redemption Date) and
to institute suit for the enforcement of any such payment on or after such respective dates, and such rights shall not be impaired without the consent of such Holder. 
  
 SECTION 509. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to
enforce any right or remedy under this Indenture or the Guarantees 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, any Guarantor, any other obligor of the Notes, 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 510. Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in the last paragraph of Section 305, 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. 
  

 51 

 SECTION 511. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of
any Note to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law
to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
  
 SECTION 512. Control by Holders. The Holders of not less than a majority in principal amount of the Outstanding Notes
shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, provided that: 
  
 (1) such direction shall not be in conflict with any rule of
law or with this Indenture, 
  
 (2) subject to
Section 315 of the Trust Indenture Act, the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and 
  
 (3) the Trustee need not take any action which might involve it in personal liability or be unjustly
prejudicial to the Holders not consenting. 
  
 SECTION 513.
Waiver of Past Defaults. Subject to Sections 508 and 902, the Holders of not less than a majority in principal amount of the Outstanding Notes, by notice to the Trustee, may on behalf of the Holders of all such Notes waive any past Default
hereunder and its consequences, except a continuing Default or Event of Default (1) in respect of the payment of interest on, premium, if any, or the principal of any such Note held by a non-consenting Holder, or (2) in respect of a
covenant or provision hereof which under Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Note affected. 
  
 Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose
of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. 
  
 SECTION 514. Waiver of Stay or Extension Laws. Each of the Company, the Guarantors and any other obligor on the Notes covenants (to the extent that
it may lawfully do so) that it shall not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect
the covenants or the performance of this Indenture; and each of the Company, the Guarantors and any other obligor on the Notes (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants
that it shall not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 
  

 52 

 ARTICLE SIX 
  
 THE TRUSTEE 
  
 SECTION 601. Duties of the Trustee. (a) Except during the continuance of a Default or 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 no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
  

(2) in the absence of bad faith or willful misconduct on its part, the Trustee may conclusively rely, as to the truth of the statements
and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions specifically required by any
provision hereof to be provided to it, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture, but not to verify the contents thereof. 
  
 (b) If a Default or an Event of Default has occurred and is continuing of
which a Responsible Officer of the Trustee has actual knowledge or of which written notice of such Default or Event of Default shall have been given to the Trustee by the Company, any other obligor of the Notes or by any Holder, 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 paragraph (c) shall not be construed to limit the effect of paragraph (a) of this Section; 
  
 (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 aggregate principal amount of the Outstanding Notes 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; 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 

  

 53 

 
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 602. Notice of Defaults. Within 30 days after the earlier of receipt from the Company of notice of the
occurrence of any Default or Event of Default hereunder or the date when such Default or Event of Default becomes known to the Trustee, the Trustee shall transmit, in the manner and to the extent provided in TIA Section 313(c), notice of such
Default or Event of Default hereunder known to the Trustee, unless such Default or Event of Default shall have been cured or waived; provided, however, that, except in the case of a Default or Event of Default in the payment of the
principal of (or premium, if any, on) or interest on any Note, the Trustee shall be protected in withholding such notice if and so long as a committee of Responsible Officers of the Trustee in good faith determine that the withholding of such notice
is in the interest of the Holders. 
  
 SECTION 603. Certain
Rights of Trustee. Subject to the provisions of TIA Sections 315(a) through 315(d): 
  
 (1) the Trustee may conclusively rely and shall be fully 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 (whether in original or facsimile form) 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 may 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) may, in
the absence of bad faith on its part, rely upon an Officers’ Certificate; 
  
 (4) the Trustee may consult with counsel of its own 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 accordance with the advice or opinion of such counsel; 
  
 (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 reasonable security or indemnity satisfactory to it against the costs, expenses, losses and liabilities
which might be incurred by it in compliance with such request or direction; 
  

 54 

 (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,
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; 
  
 (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; 
  
 (8) the Trustee shall not be liable for any action taken, suffered or omitted by it in good faith and
believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; provided, however, that the Trustee’s conduct does not constitute bad faith, willful misconduct or negligence.

  
 (9) the rights, privileges, protections,
immunities and benefits given to the Trustee, including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder;

  
 (10) the Trustee may request that the Company
deliver an Officers’ Certificate setting forth the names of individuals 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; 
  
 (11) 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 
  
 (12) the Trustee shall not be deemed to have knowledge of any Default or Event of Default except
(i) any Default or Event of Default occurring pursuant to Section 501(1) or (2) and (ii) any Default or Event of Default of which the Trustee shall have received written notification or obtained actual knowledge. 
  
 SECTION 604. Trustee Not Responsible for Recitals or Issuance of
Notes. The recitals contained herein and in the Notes, except for the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee
makes no representations as to the validity or sufficiency of this Indenture or of the Notes, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Notes and perform its obligations
hereunder and that 

  

 55 

 
the statements made by it in a Statement of Eligibility on Form T-1 supplied to the Company are true and accurate, subject to the qualifications set forth
therein. The Trustee shall not be accountable for the use or application by the Company of Notes or the proceeds thereof. 
  
 SECTION 605. May Hold Notes. The Trustee, any Paying Agent, any Note Registrar or any other agent of the Company or of the Trustee, in its
individual or any other capacity, may become the owner or pledgee of Notes and, subject to TIA Sections 310(b) and 311, may otherwise deal with the Company with the same rights it would have if it were not the Trustee, Paying Agent, Note Registrar
or such other agent; provided, however, that, if it acquires any conflicting interest, it must eliminate such conflict within 90 days, apply to the SEC for permission to continue or resign. 
  
 SECTION 606. 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. 
  
 SECTION 607. Compensation and Reimbursement. The Company and the
Guarantors, jointly and severally, agree: 
  
 (1)
to pay to the Trustee from time to time such compensation as shall be agreed in writing between the Company and the Trustee 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 shall be determined to have been caused by its own negligence or willful misconduct; and

  
 (3) to indemnify the Trustee and any
predecessor Trustee for, and to hold it harmless against, any and all loss, liability, claim, damage or expense, including taxes (other than the taxes based on the 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 this trust, including the costs and expenses of defending itself against any claim regardless of whether the claim is 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. 
  
 The obligations of the Company under this Section to compensate the Trustee, to pay or reimburse the Trustee for expenses, disbursements and advances and
to indemnify and hold harmless the Trustee shall constitute additional indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture and resignation or removal of the Trustee. As security for the performance of such
obligations of the Company, the Trustee shall have a claim prior to the Notes 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
particular Notes. 
  

 56 

 When the Trustee incurs expenses or renders services in connection with an Event of Default specified in
Section 501(8), the expenses (including the reasonable charges and expenses of its counsel) of and the compensation for such services are intended to constitute expenses of administration under any applicable Bankruptcy Law. 
  
 The provisions of this Section shall survive the termination of this
Indenture. 
  
 SECTION 608. Corporate Trustee Required;
Eligibility. There shall be at all times a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have a combined capital and surplus of at least $50,000,000. If such corporation publishes reports
of condition at least annually, pursuant to law or to 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 hereinafter specified in this Article. 
  
 SECTION 609. Resignation and Removal; Appointment of Successor. (a) 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 610. 
  
 (b) The Trustee may resign at any time by giving written notice thereof to the Company. Upon receiving such notice of resignation, the Company shall
promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors, a copy of which shall be delivered to the resigning Trustee and a copy to the successor Trustee. If the instrument of acceptance by a
successor Trustee required by Section 610 shall not have been delivered to the Trustee within 30 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. 
  
 (c)
The Trustee may be removed at any time by Act of the Holders of not less than a majority in principal amount of the Outstanding Notes, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by
Section 610 shall not have been delivered to the Trustee within 30 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. 
  
 (d) The Trustee shall comply with TIA
Section 310(b); provided, however, that there shall be excluded from the operation of TIA Section 310(b)(1) any indenture or indentures under which other securities or certificates of interest or participation in other
securities of the Company are outstanding if the requirements for such exclusion set forth in TIA Section 310(b)(1) are met. 
  

 57 

 (e) 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, the Company, by a Board Resolution, shall promptly appoint a successor Trustee. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee shall be
appointed by Act of the Holders of a majority in principal amount of the Outstanding Notes delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the
successor Trustee and 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 hereinafter provided, any Holder who has been a
bona fide Holder of a Note 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. 
  
 (f) The Company shall give notice of each resignation and each removal of the
Trustee and each appointment of a successor Trustee to the Holders in the manner provided for in Section 107. Each notice shall include the name of the successor Trustee and the address of its Corporate Trust Office. 
  
 SECTION 610. Acceptance of Appointment by Successor. (a) Every
successor Trustee appointed hereunder shall execute, acknowledge and deliver to the Company 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 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. 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 such successor Trustee all such rights, powers
and trusts. 
  
 (b) 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 611. 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 of 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 Notes 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 Notes so
authenticated with the same effect as if such successor Trustee had itself authenticated such Notes. In case at that time any of the Notes shall not have been authenticated, any successor Trustee may authenticate such Notes either in the name of any
predecessor hereunder or in the name of the successor Trustee. In all such cases such certificates 

  

 58 

 
shall have the full force and effect which this Indenture provides for the certificate of authentication of the Trustee shall have; provided,
however, that the right to adopt the certificate of authentication of any predecessor Trustee or to authenticate Notes in the name of any predecessor Trustee shall apply only to its successor or successors by merger, conversion or
consolidation. 
  
 SECTION 612. Appointment of Authenticating
Agent. At any time when any of the Notes remain Outstanding, the Trustee may appoint an Authenticating Agent or Agents with respect to the Notes which shall be authorized to act on behalf of the Trustee to authenticate Notes and the Trustee
shall give written notice of such appointment to all Holders with respect to which such Authenticating Agent will serve, in the manner provided for in Section 107. Notes 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, and a copy of such instrument shall be
promptly furnished to the Company. Wherever reference is made in this Indenture to the authentication and delivery of Notes 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 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 corporation 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 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 an Authenticating Agent
shall cease to be eligible in accordance with the provisions of this Section, it 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 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 or the Authenticating
Agent. 
  
 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 which shall be
acceptable to the Company and shall give written notice of such appointment to all Holders, in the manner provided for in Section 107. Any successor Authenticating Agent upon acceptance 

  

 59 

 
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. 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 such compensation for its services under this Section as shall be agreed in
writing between the Company and such Authenticating Agent. 
  
 If
an appointment is made pursuant to this Section, the Notes 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 Notes designated therein referred to in the
within-mentioned Indenture. 
  

					
	U.S. BANK NATIONAL ASSOCIATION
as Trustee
			
	 	 	By:	 	 
	 	 	 	 	 as Authenticating Agent

			
	 	 	 By:
	 	 
	 	 	 	 	 as Authorized Officer

  
 ARTICLE SEVEN

  
 HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY

  
 SECTION 701. Company to Furnish Trustee Names and
Addresses. The Company shall furnish or cause to be furnished to the Trustee: 
  
 (1) semiannually, not more than 10 days after each Regular Record Date, a list, in such form as the Trustee may reasonably require, of the
names and addresses of the Holders as of such Regular Record Date; and 
  
 (2) at such other times as the Trustee may reasonably request in writing, within 30 days after receipt by the Company of any such request, a list of similar form and content to that in clause (1) hereof as of a
date not more than 15 days prior to the time such list is furnished; 
  
 provided, however, that if and so long as the Trustee shall be the Note Registrar, no such list need be furnished. 
  
 SECTION 702. Disclosure of Names and Addresses of Holders. Every Holder, by receiving and holding the same, agrees with the Company and the Trustee
that none of the Company or the Trustee or any agent of either of them shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders in accordance 

  

 60 

 
with TIA Section 312, regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of
mailing any material pursuant to a request made under TIA Section 312(b). 
  
 SECTION 703. Reports by Trustee. Within 60 days after May 15 of each year commencing with the first May 15 after the Issue Date, the Trustee shall transmit to the Holders (with a copy to the Company
at the address specified in Section 106), in the manner and to the extent provided in TIA Section 313(c), a brief report dated as of such May 15 that complies with TIA Section 313(a). The Trustee also shall comply with TIA
Section 313(b). 
  
 ARTICLE EIGHT 
  
 MERGER, CONSOLIDATION OR SALE 
 OF ALL OR SUBSTANTIALLY ALL ASSETS 
  
 SECTION 801. Company May Consolidate, Etc., Only on Certain Terms. (a) The Company may not consolidate or merge with or into or wind up into
(whether or not the Company is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions, to any Person unless: 

 
 (1) the Company is the surviving corporation or the
Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a corporation organized or existing under the laws
of the United States, any state thereof, the District of Columbia, or any territory thereof (such Person, as the case may be, being herein called the “Successor Company”); 
  
 (2) the Successor Company, if other than the Company, expressly assumes all the obligations of the Company
under this Indenture, the Notes and the Registration Rights Agreement pursuant to supplemental indentures or other documents or instruments in form reasonably satisfactory to the Trustee; 
  
 (3) immediately after such transaction no Default or Event
of Default exists; 
  
 (4) immediately after
giving pro forma effect to such transaction, as if such transaction had occurred at the beginning of the applicable four-quarter period, 
  
 (A) the Successor Company would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage
Ratio test set forth in Section 1011(a) or 
  
 (B) the Fixed Charge Coverage Ratio for the Successor Company and the Restricted Subsidiaries would be greater than such ratio for the Company and the Restricted Subsidiaries immediately prior to such transaction; 
  
 (5) each Guarantor, unless it is the other party to the
transactions described above, in which case Section 802(1)(B) below shall apply, shall have by supplemental indenture 

  

 61 

 
confirmed that its Guarantee shall apply to such Person’s obligations under this Indenture and the Notes; and 
  
 (6) the Company shall have delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this Indenture. 
  
 (b) The Successor Company shall succeed to, and be substituted for the Company under this Indenture and the Notes.
Notwithstanding clauses (a)(3) and (a)(4) above, 
  
 (1) Rainier Acquisition Corp. may merge with LifeCare Holdings, Inc. as part of the Transactions (except that Section 801(a)(6) above shall not apply); 
  
 (2) any Restricted Subsidiary may consolidate with, merge into or transfer all or part of its properties and
assets to the Company; and 
  
 (3) the Company
may merge with an Affiliate of the Company solely for the purpose of reincorporating the Company in another State of the United States so long as the amount of Indebtedness of the Company and the Restricted Subsidiaries is not increased thereby.

  
 SECTION 802. Guarantors May Consolidate, Etc., Only on
Certain Terms. Subject to Section 1208, each Guarantor shall not, and the Company shall not permit any Guarantor to, consolidate or merge with or into or wind up into (whether or not such Guarantor is the surviving corporation), or sell,
assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to, any Person other than the Company or any other Guarantor unless: 
  
 (1) (A) such Guarantor is the surviving corporation or the
Person formed by or surviving any such consolidation or merger (if other than such Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a corporation organized or existing under the
laws of the United States, any state thereof, the District of Columbia, or any territory thereof (such Guarantor or such Person, as the case may be, being herein called the “Successor Person”); 
  
 (B) the Successor Person, if other than such Guarantor,
expressly assumes all the obligations of such Guarantor under this Indenture and such Guarantor’s Guarantee pursuant to supplemental indentures or other documents or instruments in form reasonably satisfactory to the Trustee; 
  
 (C) immediately after such transaction no Default or Event
of Default exists; and 
  
 (D) the Company shall
have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this Indenture. 
  

 62 

 Notwithstanding the foregoing, a Guarantor whose Guarantee would be released pursuant to the terms of
this Indenture concurrently with a consolidation or merger may consolidate or merge. 
  
 Subject to Section 1208 hereof, the Successor Person shall succeed to, and be substituted for, such Guarantor under this Indenture and such Guarantor’s Guarantee. Notwithstanding the foregoing, any Guarantor
may merge into or transfer all or part of its properties and assets to another Guarantor or the Company. 
  
 SECTION 803. Successor Substituted. Upon any consolidation or merger, or any sale, assignment, conveyance, transfer, lease or disposition of all or
substantially all of the assets of the Company or any Guarantor in accordance with Sections 801 and 802 hereof, the Successor Person formed by such consolidation or into which the Company or such Guarantor, as the case may be, is merged or the
Successor Person to which such sale, assignment, conveyance, transfer, lease or disposition is made, shall succeed to, and be substituted for, and may exercise every right and power of, the Company or such Guarantor, as the case may be, under this
Indenture or the Guarantees, as the case may be, with the same effect as if such Successor Person had been named as the Company or such Guarantor, as the case may be, herein or the Guarantees, as the case may be. When a Successor Person assumes all
obligations of its predecessor hereunder, the Notes or the Guarantees, as the case may be, such predecessor shall be released from all obligations; provided that in the event of a transfer or lease, the predecessor shall not be released from
the payment of principal and interest or other obligations on the Notes or the Guarantees, as the case may be. 
  
 ARTICLE NINE 
  
 SUPPLEMENTAL INDENTURES 
  
 SECTION 901.
Amendments or Supplements Without Consent of Holders. Without the consent of any Holders, the Company, any Guarantor (with respect to a Guarantee or this Indenture to which it is a party), when authorized by Board Resolutions of their
respective Board of Directors, and the Trustee, at any time and from time to time, may amend or supplement this Indenture, any Guarantee or the Notes, in form reasonably satisfactory to the Trustee, for any of the following purposes: 
  
 (1) to cure any ambiguity, omission, defect or
inconsistency; 
  
 (2) to provide for
uncertificated Notes in addition to or in place of certificated Notes; 
  
 (3) to provide the assumption of the Company’s or such Guarantor’s obligations to Holders in the case of mergers, consolidations and sales of assets; 
  
 (4) to make any change that would provide any additional
rights or benefits to the Holders or that does not adversely affect the legal rights under this Indenture of any such Holder; 
  

 63 

 (5) to add covenants for the benefit of the Holders or to surrender any right or power
conferred in this Indenture upon the Company or any Guarantor; 
  
 (6) to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the Trust Indenture Act; 
  
 (7) to evidence and provide for the acceptance and appointment under this Indenture of a successor Trustee
pursuant to the requirements of Sections 609 and 610 hereof; 
  
 (8) to provide for the issuance of Exchange Notes or private exchange notes, which are identical to Exchange Notes except that they are not freely transferable; 
  
 (9) to add a Guarantor under this Indenture; 
  
 (10) to conform the text of this Indenture, Guarantees or
the Notes to any provision of the “Description of Notes” section of the Offering Memorandum to the extent that such provision in the “Description of Notes” was intended to be a verbatim recitation of a provision of this
Indenture, the Guarantees or the Notes; or 
  
 (11) making any amendment to the provisions of this Indenture relating to the transfer and legending of Notes; provided, however, that (A) compliance with this Indenture as so amended would not result in Notes being
transferred in violation of the Securities Act or any applicable securities law and (B) such amendment does not materially and adversely affect the rights of Holders to transfer Notes. 
  
 SECTION 902. Amendments, Supplements or Waivers with Consent of
Holders. With the consent of the Holders of not less than a majority in principal amount of the Outstanding Notes, by Act of said Holders delivered to the Company and the Trustee, the Company, any Guarantor (with respect to any Guarantee or this
Indenture to which it is a party), when authorized by Board Resolutions of their respective Board of Directors, and the Trustee may amend or supplement this Indenture, any Guarantee or the Notes for the purpose of adding any provisions hereto or
thereto, changing in any manner or eliminating any of the provisions or of modifying in any manner the rights of the Holders hereunder or thereunder (including consents obtained in connection with a purchase of, or tender offer or Exchange Offer
for, the Notes) and any existing Default, Event of Default or compliance with any provision of this Indenture or the Notes may be waived with the consent of the Holders of not less than a majority in principal amount of the Outstanding Notes, other
than Notes beneficially owned by the Company or its Affiliates (including consents obtained in connection with a purchase of, or tender offer or exchange offer for, the Notes); provided, however, that no such amendment, supplement or
waiver shall, without the consent of the Holder of each Outstanding Note affected thereby: 
  
 (1) reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver, 
  

 64 

 (2) reduce the principal of or change the Maturity of any such Note or alter or waive the
provisions with respect to the redemption of the Notes (other than Sections 1017 and 1018), 
  
 (3) reduce the rate of or change the time for payment of interest on any Note, 
  
 (4) waive a Default or Event of Default (x) in the
payment of principal of or premium, if any, or interest or Special Interest (if any) on the Notes issued under this Indenture (except a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of
the Notes and a waiver of the payment default that resulted from such acceleration) or (y) in respect of a covenant or provision contained in this Indenture or any Guarantee which cannot be amended or modified without the consent of all
Holders, 
  
 (5) make any Note payable in money
other than that stated in the Notes, 
  
 (6) make
any change in Section 513 or the rights of Holders to receive payments of principal of or premium, if any, or interest or Special Interest (if any) on the Notes, 
  
 (7) make any change in these amendment and waiver provisions, or 
  
 (8) impair the right of any Holder to receive payment of
principal of, or interest or Special Interest (if any) on such Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes. 
  
 SECTION 903. Execution of Amendments, Supplements or Waivers. In
executing, or accepting the additional trusts created by, any amendment, supplement or waiver permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be provided with, and shall be fully
protected in relying upon, an Officers’ Certificate and Opinion of Counsel stating that the execution of such amendment, supplement or waiver is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter
into any such amendment, supplement or waiver which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
  
 SECTION 904. Effect of Amendments, Supplements or Waivers. Upon the execution of any supplemental indenture under this Article, this Indenture
shall be modified in accordance therewith, and such amendment, supplement or waiver shall form a part of this Indenture for all purposes; and every Holder theretofore or thereafter authenticated and delivered hereunder shall be bound thereby.

  
 SECTION 905. Compliance with Trust Indenture Act. Every
supplemental indenture executed pursuant to the Article shall comply with the requirements of the Trust Indenture Act as then in effect. 
  
 SECTION 906. Reference in Notes to Supplemental Indentures. Notes 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 reasonably acceptable to 

  

 65 

 
the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Notes 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 Notes. 
  
 SECTION 907. Notice of Supplemental Indentures. Other than a
supplemental indenture executed on the date hereof, promptly after the execution by the Company, any Guarantor and the Trustee of any supplemental indenture pursuant to the provisions of Section 902, the Company shall give notice thereof to the
Holders of each Outstanding Note affected, in the manner provided for in Section 107, setting forth in general terms the substance of such supplemental indenture. 
  
 ARTICLE TEN 
  
 COVENANTS 
  
 SECTION 1001. Payment of Principal, Premium, if any, and Interest. The Company covenants and agrees for the benefit of the Holders that it shall
duly and punctually pay the principal of (and premium, if any) and interest and Special Interest, if any, on the Notes in accordance with the terms of the Notes and this Indenture. 
  
 The Company shall pay interest on overdue principal at the rate specified therefor in the Notes, and it shall pay interest
on overdue installments of interest at the same rate to the extent lawful. 
  
 SECTION 1002. Maintenance of Office or Agency. The Company shall maintain in The City of New York, an office or agency where Notes may be presented or surrendered for payment, where Notes may be surrendered for
registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The designated office of the Trustee shall be such office or agency of the Company, unless the
Company shall designate and maintain some other office or agency for one or more of such purposes. The Company shall 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 (in or outside of The City of New York) where the Notes 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 The City of New York for such purposes. The Company shall give 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. 

 

 66 

 SECTION 1003. Money for Notes Payments to Be Held in Trust. If the Company shall at any time act
as its own Paying Agent, it shall, on or before each due date of the principal of (or premium, if any) or Special Interest, if any, or interest on any of the Notes, segregate and hold in trust for the benefit of the Persons entitled thereto a sum
sufficient to pay the principal of (or premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and shall promptly notify the Trustee of its action or failure so to act.

  
 Whenever the Company shall have one or more Paying Agents for
the Notes, it shall, on or before each due date of the principal of (or premium, if any) or interest on any Notes, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be
held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company shall promptly notify the Trustee of such action or any failure so to act. 
  
 The Company shall 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 shall: 
  
 (1) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on Notes
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; 
  
 (2) give the Trustee notice of any Default by the Company (or any other obligor upon the Notes) in the making of any payment of principal
(and premium, if any) or interest; and 
  
 (3) 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 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 sums. 
  
 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 premium, if any) or interest on any Note 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 Note shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust
money, and all liability of the Company as Trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, shall at the expense of the 

  

 67 

 
Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation
in the Borough of Manhattan, The City of New York, 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 1004.
Corporate Existence. Subject to Article Eight, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and that of each Restricted Subsidiary and the corporate rights
(charter and statutory) and franchises of the Company and each Restricted Subsidiary; provided, however, that the Company shall not be required to preserve any such right or franchise or, in the case of any Restricted Subsidiary, its
existence, right or franchise, if (in each case) the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries as a whole. 
  
 SECTION 1005. Payment of Taxes and Other Claims. The Company shall pay
or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary or upon the income, profits or property of the
Company or any Subsidiary and (2) all lawful claims for labor, materials and supplies, which, if unpaid, might by law become a lien upon the property of the Company or any Subsidiary; provided, however, that the Company shall not
be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate actions and for which appropriate reserves, if
necessary (in the good faith judgment of management of the Company) are being maintained in accordance with GAAP or where the failure to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim would not be
materially adverse to the Holders. 
  
 SECTION 1006.
Maintenance of Properties. The Company shall cause all properties owned by the Company or any Restricted Subsidiary or used or held for use in the conduct of its business or the business of any Restricted Subsidiary to be maintained and kept
in good condition, repair and working order and supplied with all necessary equipment and shall cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be
necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this Section shall prevent the Company from discontinuing the maintenance
of any of such properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of its business or the business of any Restricted Subsidiary. 
  
 SECTION 1007. [intentionally omitted]. 
  
 SECTION 1008. Statement by Officers as to Default. (a) The Company shall deliver to the Trustee within 120 days
after the end of each fiscal year, an Officers’ Certificate stating that a review of the activities of the Company and its Restricted Subsidiaries during the preceding quarter or the preceding fiscal year, as the case may be, has been made
under the supervision of the signing officers with a view to determining whether it has kept, observed, performed and fulfilled, and has caused each of its Restricted Subsidiaries to keep, observe, 

  

 68 

 
perform and fulfill its obligations under this Indenture and further stating, as to each such officer signing such certificate, that, to the best of his or
her knowledge, the Company during such preceding quarter or the preceding fiscal year, as the case may be, has kept, observed, performed and fulfilled, and has caused each of its Restricted Subsidiaries to keep, observe, perform and fulfill each and
every such covenant contained in this Indenture and no Default or Event of Default occurred during such quarter or year, as the case may be, and at the date of such certificate there is no Default or Event of Default which has occurred and is
continuing or, if such signers do know of such Default or Event of Default, the certificate shall describe its status, with particularity and that, to the best of his or her knowledge, no event has occurred and remains by reason of which payments on
the account of the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of the event and what action each is taking or proposes to take with respect thereto. The Officers’ Certificate shall
also notify the Trustee should the Company elect to change the manner in which it fixes its fiscal year-end. For purposes of this Section 1008(a), such compliance shall be determined without regard to any period of grace or requirement of
notice under this Indenture. 
  
 (b) Upon becoming aware of any
Default or Event of Default, the Company shall deliver to the Trustee by registered or certified mail or facsimile transmission an Officers’ Certificate specifying such event, notice or other action within five Business Days of its becoming
aware. 
  
 SECTION 1009. Reports and Other Information.
(a) Whether or not required by the SEC, so long as any Notes are Outstanding, if not filed electronically with the SEC through the SEC’s Electronic Data Gathering, Analysis, and retrieval System (or any successor system), the Company
shall, beginning with reports relating to the Company’s results of operations for the quarter ending September 30, 2005, furnish to the Trustee and Cede & Co., the nominee of DTC and the Holder of the Notes, within the time
periods specified in the SEC’s rules and regulations: 
  
 (1) all quarterly and annual financial information that would be required to be contained in a filing with the SEC on Forms 10-Q and 10-K if the Company were required to file such Forms, including a
“Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to the annual information only, a report on the annual financial statements by the Company’s certified independent
accountants; and 
  
 (2) all current reports that
would be required to be filed with the SEC on Form 8-K if the Company were required to file such reports. 
  
 (b) In addition, whether or not required by the SEC, after the consummation of the Exchange Offer or the effectiveness of the Shelf Registration
Statement, the Company shall file a copy of all of the information and reports referred to in clauses (1) and (2) above with the SEC for public availability within the time periods specified in the SEC’s rules and regulations (unless
the SEC will not accept such a filing) and make such information available to securities analysts and prospective investors upon request. In addition, for so long as any Notes remain Outstanding, the Company shall furnish to the Holders and to
securities analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rules 144A(d)(4) under the Securities Act. 
  

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 (c) In addition, if at any time any direct or indirect parent of the Company becomes a Guarantor (there
being no obligation of any such parent to do so), holds no material assets other than cash, Cash Equivalents and the Capital Stock of the Company or of any direct or indirect parent of the Company (and performs the related incidental activities
associated with such ownership) and complies with the requirements of Rule 3-10 of Regulation S-X promulgated by the SEC (or any successor provision), the reports, information and other documents required to be filed and furnished to Holders
pursuant to this Section 1009 may, at the option of the Company, be filed by and be those of such parent rather than the Company. 
  
 (d) Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not
constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers’ Certificates). 
  
 (e)
Notwithstanding the foregoing, such requirements shall be deemed satisfied with respect to the furnishing of a Form 10-K for the Company’s fiscal year 2005 by the filing with the SEC of the Exchange Offer Registration Statement, and any
amendments thereto, with such financial information that satisfies Regulation S-X of the Securities Act with respect to fiscal year 2005. 
  
 SECTION 1010. Limitation on Restricted Payments. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, directly or
indirectly: 
  
 (1) declare or pay any dividend
or make any distribution on account of the Company’s or any Restricted Subsidiary’s Equity Interests (including any dividend or distribution payable in connection with any merger or consolidation) or to the direct or indirect holders of
the Company’s or any of its Restricted Subsidiaries’ Equity Interests in their capacity as such, other than: 
  
 (A) dividends or distributions by the Company payable in Equity Interests (other than Disqualified Stock) of the Company or in options,
warrants or other rights to purchase such Equity Interests; or 
  
 (B) dividends or distributions by a Restricted Subsidiary on its Equity Interests so long as, in the case of any dividend or distribution payable on or in respect of any class or series of such securities issued by a
Subsidiary other than a Wholly Owned Subsidiary (x) the Company or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution in accordance with its Equity Interests in such class or series of securities and
(y) if the Equity Interests upon which such dividend or distribution is paid constitute preferred stock, the Company or a Restricted Subsidiary receives the same proportion of such dividend or distribution as it would on any dividend or
distribution on the common stock of such Subsidiary making such dividend or distribution; 
  
 (2) purchase, redeem, defease or otherwise acquire or retire for value any Equity Interests of the Company, any Restricted Subsidiary
(except to the extent such Equity 

  

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Interests are held by the Company or any of the Restricted Subsidiaries) or any direct or indirect parent of the Company, including in connection with any
merger or consolidation; 
  
 (3) make any
principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for value, in each case, prior to any scheduled repayment, sinking fund payment or maturity, any Subordinated Indebtedness, other than: 
  
 (A) Indebtedness permitted under clauses (7), (8) and
(9) of Section 1011(b); or 
  
 (B) the
purchase, repurchase or other acquisition of Subordinated Indebtedness purchased in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of purchase, repurchase
or acquisition; or 
  
 (4) make any Restricted
Investment; 
  
 (all such payments and other actions set forth in clauses
(1) through (4) above being collectively referred to as “Restricted Payments”), unless, at the time of such Restricted Payment: 
  
 (A) no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof; 
  
 (B) the Company would, at the time of such Restricted
Payment and after giving pro forma effect thereto as if such Restricted Payment had been made at the beginning of the applicable four-quarter period, have been permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge
Coverage Ratio test described in Section 1011(a); and 
  
 (C) such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Company and its Restricted Subsidiaries after the Issue Date (excluding Restricted Payments permitted by
clauses (2), (3), (4)(A), 4(B), (6), (7), (9), (10), (11), (14) and (15) of Section 1010(b)), is less than the sum, without duplication, of: 
  

	 	(i)	50% of the Consolidated Net Income of the Company for the period (taken as one accounting period) from the beginning of the first fiscal quarter commencing after the Issue Date to
the end of the Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, if such Consolidated Net Income for such period is a deficit, less 100% of such
deficit), plus 

  

	 	(ii)	 100% of the aggregate net cash proceeds, and the fair market value of marketable securities or other property other than cash (as determined in good faith by the
Board of Directors of the Company), received by the Company since the Issue Date (i) as a 

  

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contribution to its common equity capital, (ii) from the issue or sale of Equity Interests (other than Disqualified Stock) of the Company or
(iii) from the incurrence of Indebtedness of the Company that has been converted into or exchanged for such Equity Interests, in each case, other than (A) Equity Interests sold to, or Indebtedness held by, a Subsidiary of the Company,
(B) Equity Interests to the extent the net cash proceeds therefrom are applied as provided for in clause (4) of Section 1010(b), (C) Refunding Capital Stock, (D) Excluded Contributions and (E) Designated Preferred
Stock, plus 

  

	 	(iii)	with respect to Restricted Investments made by the Company or its Restricted Subsidiaries after the Issue Date, an amount equal to the net reduction in such Restricted Investments
in any Person resulting from repayments of loans or advances, or other transfers of assets, in each case to the Company or any Restricted Subsidiary or from the net cash proceeds from the sale of any such Restricted Investment or the receipt of any
dividends or distributions from such Restricted Investment, from the release of any guarantee (except to the extent any amounts are paid under such guarantee) or from redesignations of Unrestricted Subsidiaries as Restricted Subsidiaries, not to
exceed, in each case, the amount of Restricted Investments previously made by the Company or any Restricted Subsidiary in such Person or Unrestricted Subsidiary after the Issue Date. 

  
 (b) The foregoing provisions shall not prohibit: 
  
 (1) the payment of any dividend within 60 days after the
date of declaration thereof, if at the date of declaration such payment would have complied with the provisions of this Indenture; 
  
 (2) (A) the redemption, repurchase, retirement or other acquisition of any Equity Interests of the Company, any Restricted Subsidiary or
any direct or indirect parent of the Company (“Retired Capital Stock”) or Subordinated Indebtedness in exchange for, or out of the proceeds of the substantially concurrent sale (other than to a Restricted Subsidiary) of, Equity Interests
of the Company or contributions to the equity capital of the Company (in each case, other than any Disqualified Stock) (“Refunding Capital Stock”) and 
  
 (B) the declaration and payment of dividends on Retired Capital Stock out of the proceeds of the
substantially concurrent sale (other than to a Subsidiary of the Company) of Refunding Capital Stock; 
  
 (3) the redemption, repurchase or other acquisition or retirement of Subordinated Indebtedness made by exchange for, or out of the
proceeds of the substantially concurrent 

  

 72 

 
sale of, new Indebtedness of the borrower of such original Indebtedness, which is incurred in compliance with Section 1011, so long as: 
  
 (A) the principal amount of such new Indebtedness does not
exceed the principal amount of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired for value, plus the amount of any reasonable fees and expenses related thereto and any premium required to be paid under the terms of
the instrument governing the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired, 
  
 (B) such Indebtedness is subordinated to the Notes at least to the same extent as such Subordinated Indebtedness so purchased, exchanged,
redeemed, repurchased, acquired or retired, 
  
 (C) such Indebtedness has a final scheduled maturity date equal to or later than the final scheduled maturity date of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired; and 
  
 (D) such Indebtedness has a Weighted Average Life to
Maturity equal to or greater than the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired; 
  
 (4) a Restricted Payment to pay for the repurchase, retirement or other acquisition or retirement for value
of common Equity Interests of the Company or any of its direct or indirect parents held by any future, present or former employee, director or consultant of the Company, any of its Restricted Subsidiaries or any of its direct or indirect parents
pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement; provided, however, that the aggregate Restricted Payments made under this clause (4) do not exceed in any calendar
year $5.0 million (with unused amounts in any calendar year being carried over to succeeding calendar years subject to a maximum (without giving effect to the following proviso) of $10.0 million in any calendar year); provided further that
such amount in any calendar year may be increased by an amount not to exceed: 
  
 (A) the cash proceeds from the sale of Equity Interests (other than Disqualified Stock) of the Company and, to the extent contributed to the Company’s common equity capital, Equity Interests (other than
Disqualified Stock) of any of the Company’s direct or indirect parents, in each case to members of management, directors or consultants of the Company, any of its Restricted Subsidiaries or any of its direct or indirect parents that occurs
after the Issue Date, to the extent the cash proceeds from the sale of such Equity Interests have not otherwise been applied to the payment of Restricted Payments by virtue of clause 1010(a)(C)(ii), plus 
  
 (B) the cash proceeds of key man life insurance policies
received by the Company and its Restricted Subsidiaries after the Issue Date, less 
  

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 (C) the amount of any Restricted Payments previously made pursuant to clauses
(A) and (B) of this Section 1010(b)(4); 
  
 (5) the declaration and payment of dividends to holders of any class or series of Disqualified Stock of the Company or any Restricted Subsidiary issued pursuant to Section 1011 to the extent such dividends are included in the
definition of Fixed Charges; 
  
 (6) the
declaration and payment of dividends to holders of any class or series of Designated Preferred Stock (or Refunding Capital Stock in respect thereof) issued by the Company after the Issue Date and the declaration and payment of dividends to a direct
or indirect parent of the Company, the proceeds of which will be used to fund the payment of dividends to holders of any class or series of Designated Preferred Stock (or Refunding Capital Stock in respect thereof) of such parent issued after the
Issue Date, provided that 
  
 (A) for the
most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock, after giving effect to such issuance and declaration on a pro forma
basis, the Company would have been permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test as described under Section 1011(a) and 
  
 (B) the aggregate amount of dividends declared and paid
pursuant to this clause (B) shall not exceed the aggregate amount of cash actually received by the Company from the sale of such Designated Preferred Stock issued after the Issue Date. 
  
 (7) repurchases of Equity Interests deemed to occur upon
exercise of stock options or warrants if such Equity Interests represent a portion of the exercise price of such options or warrants; 
  
 (8) the payment of dividends on the Company’s common stock, following the first public offering of the Company’s common stock or
the common stock of any direct or indirect parent thereof after the Issue Date, of up to 6% per annum of the net cash proceeds received by or contributed to the Company’s common equity capital in or from any such public offering, other
than public offerings with respect to the Company’s common stock registered on Form S-8 and other than any public sale constituting an Excluded Contribution; 
  
 (9) Investments that are made with Excluded Contributions; 
  
 (10) other Restricted Payments in an aggregate amount not to
exceed $30.0 million; 
  
 (11) any Restricted
Payment used to fund the Transactions as described in the Offering Memorandum; 
  
 (12) upon the occurrence of a Change of Control and within 60 days after completion of the offer to repurchase Notes pursuant to
Section 1017 (including the 

  

 74 

 
purchase of all Notes tendered), any purchase or redemption of Subordinated Indebtedness of the Company that is required to be repurchased or redeemed
pursuant to the terms thereof as a result of such Change of Control, at a purchase price not greater than 101% of the outstanding principal amount thereof (plus accrued and unpaid interest and liquidated damages, if any); 
  
 (13) within 60 days after completion of any offer to
repurchase Notes pursuant to Section 1018 (including the purchase of all Notes tendered), any purchase or redemption of Subordinated Indebtedness of the Company that is required to be repurchased or redeemed pursuant to the terms thereof as a
result of such Asset Sale, at a purchase price not greater than 100% of the outstanding principal amount thereof (plus accrued and unpaid interest and liquidated damages, if any); 
  
 (14) distributions or payment of Receivables Fees; and 
  
 (15) the declaration and payment of dividends by the Company
to, or the making of loans to, any direct or indirect parent in amounts required for any direct or indirect parent to pay: 
  
 (A) franchise taxes and other fees, taxes and expenses required to maintain their corporate existence, 
  
 (B) federal, state and local income taxes, to the extent
such income taxes are attributable to the income of the Company and the Restricted Subsidiaries and, to the extent of the amount actually received by the Company or its Restricted Subsidiaries from its Unrestricted Subsidiaries, in amounts required
to pay such taxes to the extent attributable to the income of such Unrestricted Subsidiaries, 
  
 (C) customary salary, bonus and other benefits payable to officers and employees of any direct or indirect parent of the Company to the
extent such salaries, bonuses and other benefits are attributable to the ownership or operation of the Company and the Restricted Subsidiaries, 
  
 (D) reasonable fees and expenses other than to Affiliates related to an unsuccessful equity or debt offering not prohibited by this
Indenture, and 
  
 (E) general corporate overhead
expenses of any direct or indirect parent of the Company to the extent such expenses are attributable to the ownership or operation of the Company and the Restricted Subsidiaries; 
  
 provided, however, that at the time of, and after giving effect to, any Restricted Payment permitted under
clauses (5), (8), (10), (12) and (13) of this Section 1010(b), no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof. 
  
 (c) As of the time of issuance of the Notes, all of the Company’s Subsidiaries shall be Restricted Subsidiaries. The
Company shall not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the last sentence of the definition of 

  

 75 

 
“Unrestricted Subsidiary” in Section 102 of this Indenture. For purposes of designating any Restricted Subsidiary as an Unrestricted
Subsidiary, all outstanding Investments by the Company and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated shall be deemed to be Restricted Payments in an amount determined as set forth in the last sentence
of the definition of “Investment” in Section 102 of this Indenture. Such designation shall be permitted only if a Restricted Payment in such amount would be permitted at such time, whether pursuant to Section 1010(a) or under
clauses (9), (10) or (11) of Section 1010(b), or pursuant to the definition of “Permitted Investments,” and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted Subsidiaries shall not
be subject to any of the restrictive covenants set forth in this Indenture. 
  
 SECTION 1011. Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, create,
incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise (collectively, “incur” and collectively, an “incurrence”) with respect to any Indebtedness (including Acquired
Indebtedness) and the Company shall not issue any shares of Disqualified Stock and shall not permit any Restricted Subsidiary to issue any shares of Disqualified Stock or preferred stock; provided, however, that the Company may incur
Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock, and any Restricted Subsidiary may incur Indebtedness (including Acquired Indebtedness), issue shares of Disqualified Stock and issue shares of preferred stock, if
the Company’s Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date of such incurrence or issuance would be at least
2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred, or the Disqualified Stock or preferred stock had been issued, as the case may be, and
the application of proceeds therefrom had occurred at the beginning of such four-quarter period. 
  
 (b) The foregoing limitations shall not apply to: 
  
 (1) the incurrence of Indebtedness under Credit Facilities by the Company or any of the Restricted Subsidiaries and the issuance and
creation of letters of credit and bankers’ acceptances thereunder (with letters of credit and bankers’ acceptances being deemed to have a principal amount equal to the face amount thereof), up to an aggregate principal amount of $350.0
million outstanding at any one time, less the aggregate amount of all Net Proceeds of Asset Sales applied by the Company to permanently repay any such Indebtedness pursuant to Section 1018; 
  
 (2) the incurrence by the Company and any Guarantor of
Indebtedness represented by the Notes (including any Guarantee) (other than any Additional Notes); 
  
 (3) Existing Indebtedness (other than Indebtedness described in clauses (1) and (2) above); 
  
 (4) Indebtedness, Disqualified Stock and preferred stock
incurred by the Company or any of its Restricted Subsidiaries, to finance the purchase, lease or 

  

 76 

 
improvement of property (real or personal) or equipment that is used or useful in a Similar Business, whether through the direct purchase of assets or the
Capital Stock of any Person owning such assets, in an aggregate principal amount which, when aggregated with the principal amount of all other Indebtedness, Disqualified Stock and preferred stock then outstanding and incurred pursuant to this clause
(4) and including all Refinancing Indebtedness incurred to refund, refinance or replace any such Indebtedness, Disqualified Stock and preferred stock incurred pursuant to this clause (4), does not exceed the greater of (i) $40.0 million
and (ii) 6.25% of Total Assets. 
  
 (5)
Indebtedness incurred by the Company or any Restricted Subsidiary constituting reimbursement obligations with respect to letters of credit issued in the ordinary course of business, including letters of credit in respect of workers’
compensation claims, health, disability or other employee benefits, or property, casualty or liability insurance, or other Indebtedness with respect to reimbursement type obligations regarding workers’ compensation claims; provided,
however, that upon the drawing of such letters of credit or the incurrence of such Indebtedness, such obligations are reimbursed within 30 days following such drawing or incurrence; 
  
 (6) Indebtedness arising from agreements of the Company or a Restricted Subsidiary providing for
indemnification, adjustment of purchase price or similar obligations, in each case, incurred or assumed in connection with the disposition of any business, assets or a Subsidiary, other than guarantees of Indebtedness incurred by any Person
acquiring all or any portion of such business, assets or a Subsidiary for the purpose of financing such acquisition; provided, however, that 
  
 (A) such Indebtedness is not reflected on the balance sheet of the Company or any Restricted Subsidiary prepared in accordance with GAAP
(contingent obligations referred to in a footnote to financial statements and not otherwise reflected on the balance sheet shall not be deemed to be reflected on such balance sheet for purposes of this clause (6)(A)) and 
  
 (B) the maximum assumable liability in respect of all such
Indebtedness shall at no time exceed the gross proceeds including non-cash proceeds (the fair market value of such non-cash proceeds being measured at the time received and without giving effect to any subsequent changes in value) actually received
by the Company and the Restricted Subsidiaries in connection with such disposition; 
  
 (7) Indebtedness of the Company to a Restricted Subsidiary; provided that any such Indebtedness owing to a Restricted Subsidiary
that is not a Guarantor is unsecured and subordinated in right of payment to the Notes; provided further that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing
to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Company or another Restricted Subsidiary) shall be deemed, in each case to be an incurrence of such Indebtedness; 
  
 (8) Indebtedness of a Restricted Subsidiary to the Company
or another Restricted Subsidiary; provided that: 
  
 (A) any such Indebtedness is made pursuant to an intercompany note and 
  

 77 

 (B) if a Guarantor incurs such Indebtedness to a Restricted Subsidiary that is not a
Guarantor such Indebtedness is subordinated in right of payment to the Guarantee of such Guarantor; provided further that any subsequent transfer of any such Indebtedness (except to the Company or another Restricted Subsidiary) shall be
deemed, in each case to be an incurrence of such Indebtedness; 
  
 (9) shares of preferred stock of a Restricted Subsidiary issued to the Company or another Restricted Subsidiary; provided that any subsequent issuance or transfer of any Capital Stock or any other event which
results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such shares of preferred stock (except to the Company or another Restricted Subsidiary) shall be deemed in each case to be an
issuance of such shares of preferred stock; 
  
 (10) Hedging Obligations (excluding Hedging Obligations entered into for speculative purposes) for the purpose of limiting interest rate risk or exchange rate risk with respect to any Indebtedness permitted to be incurred pursuant to this
Section 1011; 
  
 (11) obligations in
respect of performance, bid, appeal and surety bonds and completion guarantees provided by the Company or any Restricted Subsidiary in the ordinary course of business; 
  
 (12) Indebtedness, Disqualified Stock and preferred stock of the Company or any Restricted Subsidiary not
otherwise permitted hereunder in an aggregate principal amount or liquidation preference, which when aggregated with the principal amount and liquidation preference of all other Indebtedness, Disqualified Stock and preferred stock then outstanding
and incurred pursuant to this clause (12), does not at any one time outstanding exceed the sum of (i) $100.0 million and (ii) 100% of the net cash proceeds received by the Company since immediately after the Issue Date from the issue or
sale of Equity Interests of the Company or cash contributed to the common equity capital of the Company (in each case other than proceeds of (A) Disqualified Stock or Designated Preferred Stock or (B) sales of Equity Interests to the
Company or any of its Subsidiaries) as determined in accordance with clause 1010(a)(C)(ii) to the extent such net cash proceeds or cash have not been applied to make Restricted Payments or to make Permitted Investments (other than Permitted
Investments specified in clauses (1) and (3) of the definition thereof) (it being understood that any Indebtedness, Disqualified Stock or preferred stock incurred pursuant to this clause (12) shall cease to be deemed incurred or
outstanding for purposes of this clause (12) but shall be deemed incurred for the purposes of Section 1011(a) from and after the first date on which the Company or such Restricted Subsidiary could have incurred such Indebtedness,
Disqualified Stock or preferred stock under Section 1011(a) without reliance on this clause (12)); provided, however, that the aggregate amount of Indebtedness incurred by Restricted Subsidiaries (other than Guarantors) pursuant to this
clause (12) may not exceed $20.0 million outstanding at any one time; 
  

 78 

 (13) the incurrence by the Company or any Restricted Subsidiary of Indebtedness,
Disqualified Stock or preferred stock which serves to refund or refinance any Indebtedness, Disqualified Stock or preferred stock incurred as permitted under Section 1011(a) and clauses (2), (3) and (4) above, this clause
(13) and clause (14) below or any Indebtedness, Disqualified Stock or preferred stock issued to so refund or refinance such Indebtedness, Disqualified Stock or preferred stock including additional Indebtedness, Disqualified Stock or
preferred stock incurred to pay premiums and fees in connection therewith (the “Refinancing Indebtedness”) prior to its respective maturity; provided, however, that such Refinancing Indebtedness: 
  
 (A) has a final maturity date and Weighted Average Life to
Maturity at the time such Refinancing Indebtedness is incurred which is not earlier than the final maturity date and not less than the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or preferred stock being
refunded or refinanced, respectively, 
  
 (B) to
the extent such Refinancing Indebtedness refinances (i) Indebtedness subordinated or pari passu to the Notes or any Guarantee of the Notes, such Refinancing Indebtedness is (x) subordinated or pari passu to the Notes or such
Guarantee at least to the same extent as the Indebtedness being refinanced or refunded or (y) preferred stock (other than Disqualified Stock) or (ii) Disqualified Stock or preferred stock, such Refinancing Indebtedness must be Disqualified
Stock or preferred stock, respectively, and 
  
 (C) shall not include (i) Indebtedness, Disqualified Stock or preferred stock of a Subsidiary that refinances Indebtedness, Disqualified Stock or preferred stock of the Company, (ii) Indebtedness, Disqualified Stock or preferred
stock of a Subsidiary that is not a Guarantor that refinances Indebtedness, Disqualified Stock or preferred stock of a Guarantor or (iii) Indebtedness, Disqualified Stock or preferred stock of the Company or a Restricted Subsidiary that
refinances Indebtedness, Disqualified Stock or preferred stock of an Unrestricted Subsidiary; 
  
 and provided further that subclause (A) above of this clause (13) shall not apply to any refunding or refinancing of any Indebtedness outstanding under the Senior Credit Facilities; 
  
 (14) Indebtedness, Disqualified Stock or preferred stock of
Persons that are acquired by the Company or any Restricted Subsidiary or merged into the Company or a Restricted Subsidiary in accordance with the terms of this Indenture; provided that such Indebtedness, Disqualified Stock or preferred stock
is not incurred in contemplation of such acquisition or merger; and provided further that after giving effect to such acquisition or merger, either 
  
 (A) the Company would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set
forth in Section 1011(a), or 
  

 79 

 (B) the Fixed Charge Coverage Ratio is greater than immediately prior to such acquisition
or merger; 
  
 (15) Indebtedness 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 that such Indebtedness is extinguished within five Business Days of its
incurrence; 
  
 (16) Indebtedness of the Company
or any Restricted Subsidiary supported by a letter of credit issued pursuant to the Senior Credit Facilities, in a principal amount not in excess of the stated amount of such letter of credit; provided that if (i) the Indebtedness
represented by such letter of credit is incurred under any of the clauses of this Section 1011 and (ii) the Indebtedness incurred under this clause (16) is at any time no longer supported by such letter of credit, then the
Indebtedness previously incurred under this clause (16) shall be classified under Section 1011(a) or under another available clause under this Section 1011 and if such Indebtedness may not be so reclassified, then an Event of Default
under this Indenture shall be deemed to have occurred; 
  
 (17) the incurrence by a Receivables Subsidiary of Indebtedness in a Qualified Receivables Transaction; 
  
 (18) Indebtedness in the form of loans from a Captive Insurance Subsidiary; and 
  
 (19) (A) any guarantee by the Company or a Guarantor of
Indebtedness or other obligations of any Restricted Subsidiary so long as the incurrence of such Indebtedness incurred by such Restricted Subsidiary is permitted under the terms of this Indenture; 
  
 (B) any guarantee by a Restricted Subsidiary of Indebtedness
of the Company, provided that such guarantee is incurred in accordance with Section 1015 or 
  
 (C) any guarantee by a Restricted Subsidiary that is not a Guarantor of Indebtedness of a Restricted Subsidiary that is not a Guarantor
permitted to be incurred under this covenant. 
  
 (c) For purposes
of determining compliance with this Section 1011, 
  
 (1) in the event that an item of Indebtedness, Disqualified Stock or preferred stock meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or preferred stock described in clauses
(1) through (19) of Section 1011(b) or is entitled to be incurred pursuant to Section 1011(a), the Company shall, in its sole discretion, classify or reclassify such item of Indebtedness, Disqualified Stock or preferred stock (or
any portion thereof) and shall only be required to include the amount and type of such Indebtedness, Disqualified Stock or preferred stock in one of the above clauses of this Section 1011(b); provided, that all Indebtedness outstanding
under the Credit Facilities on the Issue Date, after the application of the net proceeds from the sale 

  

 80 

 
of the Notes shall be treated as incurred on the Issue Date under Section 1011(b)(1) and the Company shall not be permitted to reclassify all or any
portion of such Indebtedness outstanding on the Issue Date; and 
  
 (2) at the time of incurrence or reclassification pursuant to clause 1011(c)(1), the Company shall be entitled to divide and classify an item of Indebtedness in more than one of the types of Indebtedness described
above. 
  
 Accrual of interest, the accretion of accreted value
and the payment of interest in the form of additional Indebtedness, Disqualified Stock or preferred stock shall not be deemed to be an incurrence of Indebtedness, Disqualified Stock or preferred stock for purposes of this Section 1011.

  
 (d) For purposes of determining compliance with any U.S.
dollar-denominated restriction on the incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date
such Indebtedness was incurred, in the case of term debt, or first committed, in the case of revolving credit debt; provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a foreign currency, and such
refinancing would cause the applicable U.S. dollar denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to
have been exceeded so long as the principal amount of such Refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. 
  

(e) The principal amount of any Indebtedness incurred to refinance other Indebtedness, if incurred in a different currency from the Indebtedness being
refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such respective Indebtedness is denominated that is in effect on the date of such refinancing. 
  
 SECTION 1012. Limitation on Liens. The Company shall not, and shall
not permit any Guarantor to, directly or indirectly, create, incur, assume or suffer to exist any Lien (except Permitted Liens) that secures any Obligations under any Indebtedness of the Company or a Guarantor against or on any asset or property now
owned or hereafter acquired by the Company or any such Guarantor, or any income or profits therefrom, or assign or convey any right to receive income therefrom, unless: 
  
 (1) in the case of Liens securing Indebtedness that is Subordinated Indebtedness, the Notes or such
Guarantee of such Guarantor are secured by a Lien on such property or assets that is senior in priority to such Liens; and 
  
 (2) in all other cases, the Notes or such Guarantee of such Guarantor are equally and ratably secured; 
  
 provided that any Lien which is granted to secure the Notes under this
Section 1012 shall be discharged at the same time as the discharge of the Lien that gave rise to the obligation to so secure the Notes. 
  

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 SECTION 1013. Limitations on Transactions with Affiliates. (a) The Company shall not, and
shall not permit any Restricted Subsidiary to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction,
contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Company (each of the foregoing, an “Affiliate Transaction”) involving aggregate payments or consideration in excess of $5.0
million, unless 
  
 (1) such Affiliate
Transaction is on terms that are not materially less favorable to the Company or the relevant Restricted Subsidiary than those that would have been obtained in a comparable arm’s length transaction by the Company or such Restricted Subsidiary
with a Person that is not an Affiliate of the Company; 
  
 (2) the Company delivers to the Trustee with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate payments or consideration in excess of $10.0 million, a resolution adopted by the majority of
the Board of Directors of the Company approving such Affiliate Transaction and set forth in an Officers’ Certificate certifying that such Affiliate Transaction complies with clause (1) above; and 
  
 (3) the Company delivers to the Trustee with respect to any
Affiliate Transaction or series of related Affiliate Transactions involving aggregate payments or consideration in excess of $35.0 million, an opinion from an Independent Financial Advisor that such Affiliate Transaction complies with clause
(1) above. 
  
 (b) The foregoing provisions shall not apply
to the following: 
  
 (1) transactions between or
among the Company or any of the Restricted Subsidiaries; 
  
 (2) transactions between or among the Company and/or any Restricted Subsidiary and a joint venture or similar entity which would constitute an Affiliate Transaction solely because the Company or a Restricted
Subsidiary owns an equity interest in or otherwise controls such joint venture or similar entity; 
  
 (3) Restricted Payments permitted by Section 1010 and the making of Permitted Investments; 
  
 (4) the payment of management, consulting, monitoring and
advisory fees and Termination Fees and related indemnities and expenses to the Investors under the Management Agreement; 
  
 (5) the payment by the Company or any Restricted Subsidiary to the Investors and any of their Affiliates for any financial advisory,
financing, underwriting or placement services or in respect of other investment banking activities, including, without limitation, in connection with acquisitions or divestitures, which payments are (A) pursuant to the Management Agreement and
(B) approved by a majority of the members of the Board of Directors or a majority of the disinterested members of the Board of Directors of the Company, in each case in good faith; 
  

 82 

 (6) the payment of reasonable and customary fees and compensation paid to, and
indemnities provided on behalf of, officers, directors, employees or consultants of the Company, any of its direct or indirect parents or any Restricted Subsidiary; 
  
 (7) transactions in which the Company or any Restricted Subsidiary, as the case may be, delivers to the
Trustee a letter from an Independent Financial Advisor stating that such transaction is fair to the Company or such Restricted Subsidiary from a financial point of view or meets the requirements of Section 1013(a)(1); 
  
 (8) any agreement as in effect as of the Issue Date and, in
the case of any such agreement that is material to the Company and its Subsidiaries, described in the Offering Memorandum, or any amendment thereto or replacement thereof (so long as any such amendment or replacement is not more disadvantageous to
the Holders than such original agreement in any material respect); 
  
 (9) the existence of, or the performance by the Company or any of its Restricted Subsidiaries of its obligations under the terms of, any stockholders agreement (including any registration rights agreement or purchase
agreement related thereto) to which it is a party as of the Issue Date and any similar agreements which it may enter into thereafter; provided, however, that the existence of, or the performance by the Company or any Restricted
Subsidiary of obligations under any future amendment to any such existing agreement or under any similar agreement entered into after the Issue Date shall only be permitted by this clause (9) to the extent that the terms of any such amendment
or new agreement are not otherwise more disadvantageous to the Holders in any material respect than the original agreement in existence on the Issue Date; 
  
 (10) the Transactions and the payment of all fees and expenses related to the Transactions, in each case as described in the Offering
Memorandum; 
  
 (11) transactions with customers,
clients, suppliers, or purchasers or sellers of goods or services, in each case in the ordinary course of business and otherwise in compliance with the terms of this Indenture which are fair to the Company and the Restricted Subsidiaries, in the
reasonable determination of the Board of Directors of the Company or the senior management thereof, or are on terms at least as favorable as would reasonably have been obtained at such time from an unaffiliated party; 
  
 (12) the issuance of Equity Interests (other than
Disqualified Stock) of the Company to any Permitted Holder or to any director, officer, employee or consultant; 
  
 (13) payments by the Company or any Restricted Subsidiary to any of the Investors made for any financial advisory, financing, underwriting
or placement services or in respect of other investment banking activities, including in connection with acquisitions or divestitures which payments are approved as fair to the Company and the Restricted Subsidiaries by a majority of the Board of
Directors of the Company in good faith; 
  
 (14)
any Qualified Receivables Transaction; 
  

 83 

 (15) payments by the Company or any of its Restricted Subsidiaries of reasonable
insurance premiums to, and any borrowings or dividends received from, any Captive Insurance Subsidiary; and 
  
 (16) payments or loans (or cancellation of loans) to employees or consultants of the Company, any of its direct or indirect parents or any
Restricted Subsidiary which are approved by a majority of the Board of Directors of the Company in good faith. 
  
 SECTION 1014. Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall not, and shall not permit
any Restricted Subsidiary to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any such Restricted Subsidiary to: 
  
 (a) pay dividends or make any other distributions to the
Company or any Restricted Subsidiary on its Capital Stock or with respect to any other interest or participation in, or measured by, its profits, or (2) pay any Indebtedness owed to the Company or any Restricted Subsidiary; 
  
 (b) make loans or advances to the Company or any Restricted
Subsidiary; or 
  
 (c) sell, lease or transfer
any of its properties or assets to the Company or any Restricted Subsidiary, 
  
 except (in each case) for such encumbrances or restrictions existing under or by reason of: 
  
 (1) contractual encumbrances or restrictions in effect on the Issue Date, including, pursuant to the Senior Credit Facilities and the
related documentation; 
  
 (2) this Indenture and
the Notes; 
  
 (3) purchase money obligations for
property acquired in the ordinary course of business that impose restrictions of the nature discussed in clause (c) above on the property so acquired; 
  
 (4) applicable law or any applicable rule, regulation or order; 
  
 (5) any agreement or other instrument of a Person acquired by the Company or any Restricted Subsidiary in
existence at the time of such acquisition (but not created in contemplation thereof), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets of
the Person, so acquired; 
  
 (6) contracts for
the sale of assets, including customary restrictions with respect to a Subsidiary pursuant to an agreement that has been entered into for the sale or disposition of all or substantially all of the Capital Stock or assets of such Subsidiary;

  

 84 

 (7) secured Indebtedness otherwise permitted to be incurred pursuant to Sections 1011 and
1012 that limit the right of the debtor to dispose of the assets securing such Indebtedness; 
  
 (8) restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of
business; 
  
 (9) customary provisions in joint
venture agreements and other similar agreements; 
  
 (10) customary provisions contained in leases, subleases, licenses, sublicenses and other agreements entered into in the ordinary course of business; 
  

(11) Indebtedness of a Restricted Subsidiary permitted to be incurred under this Indenture; provided that (a) such
encumbrances or restrictions are ordinary and customary with respect to the type of Indebtedness being incurred and (b) such encumbrances or restrictions will not affect the Company’s ability to make payments of principal or interest
payments on the Notes, as determined in good faith by the Board of Directors of the Company; 
  
 (12) Indebtedness or other contractual requirements of a Receivables Subsidiary in connection with a Qualified Receivables Transaction;
provided that such restrictions apply only to such Receivables Subsidiary; 
  
 (13) restrictions on the transfer of property or assets required by any regulatory authority having jurisdiction over the Company or any
Restricted Subsidiary or any of their businesses; 
  
 (14) restrictions required or desirable for a Captive Insurance Subsidiary’s operations; provided that such restrictions apply only to such Captive Insurance Subsidiary; and 
  
 (15) any encumbrances or restrictions of the type referred
to in clauses (a), (b) and (c) above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses
(1) through (12) above, provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Company’s Board of Directors,
no more restrictive in any material respect, taken as a whole, with respect to such encumbrance and other restrictions than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or
refinancing. 
  

 85 

 SECTION 1015. Limitation on Guarantees of Indebtedness by Restricted Subsidiaries. The Company
shall not permit any Restricted Subsidiary that is a Domestic Subsidiary, other than a Guarantor and any Excluded Subsidiary, to guarantee the payment of any Indebtedness of the Company or any other Guarantor unless: 
  
 (1) such Restricted Subsidiary simultaneously executes and
delivers a supplemental indenture to this Indenture providing for a Guarantee by such Restricted Subsidiary, except that with respect to a guarantee of Subordinated Indebtedness of the Company or any Guarantor, any such guarantee of such Restricted
Subsidiary with respect to such Indebtedness shall be subordinated in right of payment to such Restricted Subsidiary’s Guarantee with respect to the Notes substantially to the same extent as such Subordinated Indebtedness is subordinated to the
Notes; and 
  
 (2) such Restricted Subsidiary
shall deliver to the Trustee an Opinion of Counsel to the effect that 
  
 (A) such Guarantee has been duly executed and authorized, and 
  
 (B) such Guarantee constitutes a valid, binding and enforceable obligation of such Restricted Subsidiary, except insofar as enforcement
thereof may be limited by any Bankruptcy Law (including all laws relating to fraudulent transfers) and except insofar as enforcement thereof is subject to general principles of equity. 
  
 SECTION 1016. [intentionally omitted]. 
  
 SECTION 1017. Change of Control. (a) If a Change of Control occurs, the Company shall make an offer to purchase
all of the Notes pursuant to the offer described below (the “Change of Control Offer”) at a price in cash (the “Change of Control Payment”) equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest
and Special Interest, if any, to the date of purchase, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date. Within 30 days following any Change of Control, the Company
shall send notice of such Change of Control Offer by first class mail, with a copy to the Trustee, to each Holder to the address of such Holder appearing in the Note Register with a copy to the Trustee, with the following information: 
  
 (1) a Change of Control Offer is being made pursuant to this
Section 1017 and that all Notes properly tendered pursuant to such Change of Control Offer will be accepted for payment; 
  
 (2) the purchase price and the purchase date, which shall be no earlier than 30 days nor later than 60 days from the date such notice is
mailed (the “Change of Control Payment Date”); 
  
 (3) any Note not properly tendered shall remain Outstanding and continue to accrue interest; 
  

 86 

 (4) unless the Company defaults in the payment of the Change of Control Payment, all
Notes accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest on the Change of Control Payment Date; 
  
 (5) Holders electing to have any Notes purchased pursuant to a Change of Control Offer shall be required to surrender the Notes, with the
form entitled “Option of Holder to Elect Purchase” on the reverse of the Notes completed, to the Paying Agent specified in the notice 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; 
  
 (6)
Holders shall be entitled to withdraw their tendered Notes and their election to require the Company to purchase such Notes, provided that the Paying Agent receives, not later than the close of business on the last day of the Offer Period, a
telegram, telex, facsimile transmission or letter setting forth the name of the Holder of the Notes, the principal amount of Notes tendered for purchase, and a statement that such Holder is withdrawing his tendered Notes and his election to have
such Notes purchased; and 
  
 (7) that Holders
whose Notes are being purchased only in part shall be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered, which unpurchased portion must be equal to $1,000 in principal amount or an integral multiple
thereof. 
  
 (b) The Company shall 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 set forth in this Indenture applicable to a Change of Control
Offer made by the Company and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer or (2) a notice of redemption has been given for all Outstanding Notes pursuant to the terms of this Indenture as described
under Section 1101 unless and until there is a default in payment of the applicable Redemption Price. 
  
 (c) While the Notes are in global form and the Company makes an offer to purchase all of the Notes pursuant to the Change of Control Offer, a Holder may
exercise its option to elect for the purchase of the Notes through the facilities of Depositary subject to its rules and regulations. 
  
 (d) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the
extent such laws or regulations are applicable in connection with the repurchase of the Notes pursuant to a Change of Control Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this
Indenture, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in this Indenture by virtue thereof. 
  
 (e) On the Change of Control Payment Date, the Company shall, to the extent
permitted by law, 
  
 (1) accept for payment all
Notes or portions thereof properly tendered pursuant to the Change of Control Offer, 
  

 87 

 (2) deposit with the Paying Agent an amount equal to the aggregate Change of Control
Payment in respect of all Notes or portions thereof so tendered and 
  
 (3) deliver, or cause to be delivered, to the Trustee for cancellation the Notes so accepted together with an Officers’ Certificate stating that such Notes or portions thereof have been tendered to and purchased
by the Company. 
  
 (f) The Paying Agent shall promptly mail to
each Holder the Change of Control Payment for such Notes, and the Trustee shall promptly authenticate and mail to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any, provided, that
each such new Note shall be in a principal amount of $1,000 or an integral multiple thereof. Prior to complying with the provisions of this covenant, but in any event no later than 105 days following a Change of Control, the Company shall either
repay all outstanding Senior Debt or obtain the requisite consents, if any, under all agreements governing outstanding Senior Debt to permit the repurchase of Notes required by this covenant. 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. 
  
 (g) This Section 1017 shall be applicable notwithstanding the applicability of Article 11. 
  
 SECTION 1018. Asset Sales. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, consummate an Asset Sale, unless:

  
 (1) the Company or such Restricted
Subsidiary, as the case may be, receives consideration at the time of such Asset Sale at least equal to the fair market value (as determined in good faith by the Board of Directors of the Company) of the assets sold or otherwise disposed of and

  
 (2) at least 75% of the consideration
therefor received by the Company or such Restricted Subsidiary, as the case may be, is in the form of cash, Cash Equivalents or Related Business Assets; provided that the amount of: 
  
 (A) any liabilities (as shown on the Company’s, or such
Restricted Subsidiary’s, most recent balance sheet (excluding the footnotes thereto)) of the Company or any Restricted Subsidiary (other than liabilities that are by their terms subordinated to the Notes) that are assumed by the transferee of
any such assets and for which the Company and all Restricted Subsidiaries have been validly released by all creditors in writing, 
  
 (B) any securities received by the Company or such Restricted Subsidiary from such transferee that are converted by the Company or such
Restricted Subsidiary into cash (to the extent of the cash received) within 180 days following the closing of such Asset Sale and 
  
 (C) any Designated Noncash Consideration received by the Company or any Restricted Subsidiary in such Asset Sale having an aggregate fair
market value (as determined in good faith by the Board of Directors of the Company), 

  

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taken together with all other Designated Noncash Consideration received pursuant to this clause (C) that is at that time outstanding, not to exceed an
amount equal to the greater of (x) $15.0 million and (y) 2.5% of Total Assets at the time of the receipt of such Designated Noncash Consideration, with the fair market value of each item of Designated Noncash Consideration being measured
at the time received and without giving effect to subsequent changes in value, 
  
 shall be deemed to be cash for purposes of this provision and for no other purpose. 
  
 (b) Within 365 days after the Company’s or any Restricted Subsidiary’s receipt of the Net Proceeds of any Asset Sale, the Company or such
Restricted Subsidiary, at its option, may apply the Net Proceeds from such Asset Sale: 
  
 (1) to repay Senior Debt and, if the Senior Debt repaid is revolving credit Indebtedness, to correspondingly reduce commitments with
respect thereto or repay Indebtedness that ranks pari passu with the Notes (provided, that if the Company shall so reduce Obligations under such Indebtedness that ranks pari passu with the Notes, it shall equally and ratably reduce the
Obligations under the Notes by making an offer (in accordance with the procedures set forth herein for an Asset Sale Offer) to all Holders of Notes to purchase at a purchase price equal to 100% of the principal amount thereof, plus accrued and
unpaid interest and Special Interest, if any, on the pro rata principal amount of Notes); 
  
 (2) to repay Indebtedness of a Restricted Subsidiary that is not a Guarantor, other than Indebtedness owed to the Company or another
Restricted Subsidiary (but only to the extent such Net Proceeds are from an Asset Sale affecting such Restricted Subsidiary that is not a Guarantor); or 
  
 (3) to an investment in (a) Related Business Assets or (b) capital expenditures used or useful in a Similar Business;
provided, that a binding commitment shall be treated as a permitted application of the Net Proceeds from the date of such commitment so long as the Company or such Restricted Subsidiary enters into such commitment with the good faith
expectation that such Net Proceeds shall be applied to satisfy such commitment (an “Acceptable Commitment”) and, in the event any Acceptable Commitment is later canceled or terminated for any reason before such Net Proceeds are so applied,
the Company or such Restricted Subsidiary enters into another Acceptable Commitment within nine months of such cancellation or termination. 
  
 (c) Any Net Proceeds from the Asset Sale that are not invested or applied as provided and within the time period set forth in the preceding clause
(b) shall be deemed to constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $20.0 million, the Company shall make an offer to all Holders, and, if required by the terms of any pari passu
Indebtedness, to the holders of such pari passu Indebtedness (an “Asset Sale Offer”), to purchase the maximum principal amount of Notes and such pari passu Indebtedness, that is an integral multiple of $1,000 that may be
purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof, plus accrued and unpaid 

  

 89 

 
interest and Special Interest, if any, to the date fixed for the closing of such offer, in accordance with the procedures set forth in this Indenture. The
Company shall commence an Asset Sale Offer with respect to Excess Proceeds within ten Business Days after the date that Excess Proceeds exceeds $20.0 million by mailing the notice required pursuant to the terms of this Indenture, with a copy to the
Trustee. To the extent that the aggregate amount of Notes and such pari passu Indebtedness tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Company may use any remaining Excess Proceeds for general corporate
purposes, subject to other covenants contained in this Indenture. If the aggregate principal amount of Notes or the pari passu Indebtedness surrendered by such holders thereof exceeds the amount of Excess Proceeds, the Trustee shall select
the Notes and such pari passu Indebtedness to be purchased on a pro rata basis based on the accreted value or principal amount of the Notes or such pari passu Indebtedness tendered. Upon completion of any such Asset Sale Offer, the
amount of Excess Proceeds shall be reset at zero. 
  
 (d) Pending
the final application of any Net Proceeds pursuant to this Section 1018, the Company or the applicable Restricted Subsidiary may apply such Net Proceeds temporarily to reduce Indebtedness outstanding under a revolving credit facility or
otherwise invest such Net Proceeds in any manner not prohibited by this Indenture. 
  
 (e) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws or regulations are applicable in connection with
the repurchase of the Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Indenture, the Company shall comply with the applicable securities laws and
regulations and shall not be deemed to have breached its obligations described in this Indenture by virtue thereof. 
  
 (f) If less than all of the Notes or such pari passu Indebtedness are to be redeemed at any time, selection of such Notes for redemption, shall be
made by the Trustee on a pro rata basis to the extent practicable; provided that no Notes of $1,000 or less shall be purchased or redeemed in part. 
  
 (g) Notices of purchase or redemption shall be mailed by first class mail, postage prepaid, at least 30 but not more than 60 days before the purchase or
Redemption Date to each Holder to be purchased or redeemed at such Holder’s registered address, except that redemption notices may be mailed more than 60 days prior to a Redemption Date if the notice is issued in connection with a defeasance of
the Notes or a satisfaction and discharge of this Indenture. If any Note is to be purchased or redeemed in part only, any notice of purchase or redemption that relates to such Note shall state the portion of the principal amount thereof that has
been or is to be purchased or redeemed. 
  
 (h) A new Note in
principal amount equal to the unpurchased or unredeemed portion of any Note purchased or redeemed in part shall be issued in the name of the Holder thereof upon cancellation of the original Note. On and after the purchase or Redemption Date, unless
the Company defaults in payment of the purchase or Redemption Price, interest shall cease to accrue on Notes or portions thereof purchased or called for redemption. 
  

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 SECTION 1019. Special Interest Notice. In the event that the Company is required to pay Special
Interest to Holders pursuant to the Registration Rights Agreement, the Company shall provide written notice (“Special Interest Notice”) to the Trustee of its obligation to pay Special Interest no later than 15 days prior to the proposed
payment date for the Special Interest, and the Special Interest Notice shall set forth the amount of Special Interest to be paid by the Company on such payment date. The Trustee shall not at any time be under any duty or responsibility to any Holder
to determine the Special Interest, or with respect to the nature, extent, or calculation of the amount of Special Interest owed, or with respect to the method employed in such calculation of the Special Interest. 
  
 SECTION 1020. [intentionally omitted]. 
  
 SECTION 1021. Limitation on Senior Subordinated Debt. (a) The
Company shall not incur any Indebtedness that is contractually subordinate in right of payment to any Senior Debt of the Company unless it is pari passu or subordinate in right of payment to the Notes. 
  
 (b) No Guarantor shall incur any Indebtedness that is contractually
subordinate in right of payment to the Senior Debt of such Guarantor unless it is pari passu or subordinate in right of payment to such Guarantor’s Guarantee of the Notes. 
  
 (c) For purposes this Section 1021, no Indebtedness shall be deemed to be subordinated in right of payment to any other
Indebtedness of the Company or any Guarantor, as applicable, solely by reason of any Liens or guarantees arising or created in respect of such other Indebtedness of the Company or any Guarantor or by virtue of the fact that the holders of any
secured Indebtedness have entered into intercreditor agreements giving one or more of such holders priority over the other holders in the collateral held by them. 
  
 ARTICLE ELEVEN 
  
 REDEMPTION OF NOTES 
  
 SECTION 1101. Right of Redemption. At any time prior to August 15, 2009, the Company may redeem all or a part of the Notes, upon not less than
30 nor more than 60 days’ prior notice mailed by first-class mail to each Holder’s registered address, at a redemption price equal to 100% of the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued and unpaid
interest and Special Interest, if any, to the date of redemption (the “Redemption Date”), subject to the rights of Holders on the relevant record date to receive interest due on the relevant Interest Payment Date. 
  
 On or after August 15, 2009, the Company may redeem the Notes, in whole
or in part, upon not less than 30 nor more than 60 days’ prior notice by first class mail, postage prepaid, with a copy to the Trustee, to each Holder to the address of such Holder appearing in the Note Register at the Redemption Prices
(expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest thereon and Special Interest, if any, to the applicable Redemption Date, subject to the right of Holders of record on the relevant Regular Record Date

  

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to receive interest due on the relevant Interest Payment Date, if redeemed during the twelve-month period beginning on August 15 of each of the years
indicated below: 
  

				
	 Year

	  	Percentage

	 
	 2009
	  	104.625	%
	 2010
	  	102.313	%
	 2011 and thereafter
	  	100.000	%

  
 In addition, prior to
August 15, 2008, the Company may, at its option, redeem up to 35% of the aggregate principal amount of Notes issued under this Indenture (including any Additional Notes) at a redemption price equal to 109.25% of the aggregate principal amount
thereof, plus accrued and unpaid interest thereon and Special Interest, if any, to the applicable 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,
with the net cash proceeds of one or more Equity Offerings of the Company or any direct or indirect parent of the Company to the extent such net cash proceeds are contributed to the Company; provided that at least 65% of the sum of the
aggregate principal amount of Notes originally issued under this Indenture and any Additional Notes issued under this Indenture after the Issue Date remains Outstanding immediately after the occurrence of each such redemption; provided further that
each such redemption occurs within 90 days of the date of closing of each such Equity Offering. 
  
 SECTION 1102. Applicability of Article. Redemption of Notes at the election of the Company or otherwise, as permitted or required by any provision
of this Indenture, shall be made in accordance with such provision and this Article. 
  
 SECTION 1103. Election to Redeem; Notice to Trustee. The election of the Company to redeem any Notes pursuant to Section 1101 above shall be evidenced by a Board Resolution. In case of any redemption at
the election of the Company, 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 of the principal amount
of Notes to be redeemed and shall deliver to the Trustee such documentation and records as shall enable the Trustee to select the Notes to be redeemed pursuant to Section 1104. 
  
 SECTION 1104. Selection by Trustee of Notes to Be Redeemed. If less than all of the Notes or such pari passu
Indebtedness are to be redeemed at any time, selection of such Notes for redemption, shall be made by the Trustee on a pro rata basis to the extent practicable; provided that no Notes of $1,000 or less shall be redeemed in part. 

 
 Notices of redemption shall be mailed by first class mail, postage
prepaid, at least 30 but not more than 60 days before the Redemption Date (except that, notwithstanding anything to the contrary in this Indenture, notices of redemption may be mailed more than 60 days prior to a Redemption Date if the notice is
issued in connection with a defeasance of the Notes pursuant to Article 13 or satisfaction and discharge of this Indenture pursuant to Article 4) to each Holder to be redeemed at such Holder’s registered address. If any Note is to be redeemed
in part only, any notice of redemption that relates to such Note shall state the portion of the principal amount thereof that has been or is to be redeemed. 
  

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 A new Note in principal amount equal to the unredeemed portion of any Note redeemed in part shall be
issued in the name of the Holder thereof upon cancellation of the original Note. On and after the Redemption Date, unless the Company defaults in payment of the Redemption Price, interest shall cease to accrue on Notes or portions thereof purchased
or called for redemption. 
  
 SECTION 1105. Notice of
Redemption. Notice of redemption shall be given in the manner provided for in Section 107 not less than 30 nor more than 60 days prior to the Redemption Date (except that, notwithstanding anything to the contrary in this Indenture, notices
of redemption may be mailed more than 60 days prior to a Redemption Date if the notice is issued in connection with a defeasance of the Notes pursuant to Article 13 or satisfaction and discharge of this Indenture pursuant to Article 4) to each
Holder to be redeemed. 
  
 All notices of redemption shall state:

  
 (1) the Redemption Date, 
  
 (2) the Redemption Price and the amount of accrued interest
to the Redemption Date payable as provided in Section 1107, if any, 
  
 (3) if less than all Outstanding Notes are to be redeemed, the identification (and, in the case of a partial redemption, the principal amounts) of the particular Notes to be redeemed, 
  
 (4) in case any Note is to be redeemed in part only, the
notice which relates to such Note shall state that on and after the Redemption Date, upon surrender of such Note, the Holder shall receive, without charge, a new Note or Notes of authorized denominations for the principal amount thereof remaining
unredeemed, 
  
 (5) that on the Redemption Date
the Redemption Price (and accrued interest, if any, to the Redemption Date payable as provided in Section 1107) shall become due and payable upon each such Note, or the portion thereof, to be redeemed, and that interest thereon shall cease to
accrue on and after said date, 
  
 (6) the place
or places where such Notes are to be surrendered for payment of the Redemption Price and accrued interest, if any, 
  
 (7) the name and address of the Paying Agent, 
  
 (8) that Notes called for redemption must be surrendered to the Paying Agent to collect the Redemption Price, 
  
 (9) the “CUSIP” number, ISIN or “Common
Code” number and that no representation is made as to the accuracy or correctness of the “CUSIP” number, ISIN or “Common Code” number, if any, listed in such notice or printed on the Notes, and 
  
 (10) the paragraph of the Notes pursuant to which the Notes
are to be redeemed. 
  

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 Notice of redemption of Notes to be redeemed at the election of the Company shall be given by the Company
or, at the Company’s written request, which request shall (i) be irrevocable once given and (ii) set forth all relevant information required by clauses (1) through (10) of the preceding paragraph, the Trustee shall give
notice of redemption in the Company’s name and at the Company’s expense; provided that the text of such notice shall be prepared by the Company. 
  
 SECTION 1106. Deposit of Redemption Price. Prior to any Redemption Date, the Company shall deposit with the Trustee
or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and accrued interest and Special Interest, if
any, on, all the Notes which are to be redeemed on that date. 
  
 SECTION 1107. Notes Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Notes so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified
(together with accrued interest and Special Interest, if any, to the Redemption Date), and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Notes shall cease to bear
interest. Upon surrender of any such Note for redemption in accordance with said notice, such Note shall be paid by the Company at the Redemption Price, together with accrued interest and Special Interest, if any, to the Redemption Date and such
Notes shall be canceled by the Trustee; 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 Notes, or one or more Predecessor Notes,
registered as such at the close of business on the relevant Record Dates according to their terms and the provisions of Section 306. 
  
 If any Note 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 borne by the Notes. 
  
 SECTION 1108. Notes Redeemed in Part. Any Note which is to be redeemed only in part (pursuant to the provisions of this Article) shall be surrendered at the office or agency of the Company maintained for such purpose pursuant to
Section 1002 (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 such Holder’s attorney duly
authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Note without service charge, a new Note or Notes, 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 Note so surrendered. 
  
 ARTICLE TWELVE 
  
 GUARANTEES 
  
 SECTION
1201. Guarantees. Each Guarantor hereby jointly and severally, unconditionally and irrevocably guarantees the Notes and obligations of the Company hereunder 

  

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and thereunder, and guarantees to each Holder of a Note authenticated and delivered by the Trustee, and to the Trustee for itself and on behalf of such
Holder, that: (1) the principal of (and premium, if any) and interest on, or Special Interest in respect of, the Notes shall be paid in full when due, whether at Stated Maturity, by acceleration or otherwise (including the amount that would
become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Law), together with interest on the overdue principal, if any, and interest on any overdue interest, to the extent lawful, and all other obligations
of the Company to the Holders or the Trustee hereunder or thereunder shall be paid in full or performed, all in accordance with the terms hereof and thereof; and (2) in case of any extension of time of payment or renewal of any Notes or of any
such other obligations, the same shall be paid in full when due or performed in accordance with the terms of the extension or renewal, whether at Stated Maturity, by acceleration or otherwise, subject, however, in the case of clauses (1) and
(2) above, to the limitation set forth in Section 1204 hereof. 
  
 Each Guarantor hereby agrees that its obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the
same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, any release of any other Guarantor, the recovery of any judgment against the Company, any action to enforce the same or any other circumstance which might
otherwise constitute a legal or equitable discharge or defense of a Guarantor. 
  
 Each Guarantor hereby waives (to the extent permitted by law) the benefits of diligence, presentment, demand for payment, 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 or any other Person, protest, notice and all demands whatsoever and covenants that the Guarantee of such Guarantor shall not be discharged as to any Note except by complete performance of the
obligations contained in such Note, this Indenture and such Guarantee. Each Guarantor acknowledges that the Guarantee is a guarantee of payment, performance and compliance when due and not of collection. Each of the Guarantors hereby agrees that, in
the event of a default in payment of principal (or premium, if any) or interest on such Note, whether at its Stated Maturity, by acceleration, purchase or otherwise, legal proceedings may be instituted by the Trustee on behalf of, or by, the Holder
of such Note, subject to the terms and conditions set forth in this Indenture, directly against each of the Guarantors to enforce such Guarantor’s Guarantee without first proceeding against the Company or any other Guarantor. Each Guarantor
agrees that if, after the occurrence and during the continuance of an Event of Default, the Trustee or any of the Holders are prevented by applicable law from exercising their respective rights to accelerate the Maturity of the Notes, to collect
interest on the Notes, or to enforce or exercise any other right or remedy with respect to the Notes, such Guarantor shall pay to the Trustee for the account of the Holder, upon demand therefor, the amount that would otherwise have been due and
payable had such rights and remedies been permitted to be exercised by the Trustee or any of the Holders. 
  
 If any Holder or the Trustee is required by any court or otherwise to return to the Company or any Guarantor, or any custodian, trustee, liquidator or
other similar official acting in relation to either the Company or any Guarantor, any amount paid by any of them to the Trustee or such Holder, the Guarantee of each of the Guarantors, to the extent theretofore discharged, shall be reinstated in
full force and effect. Each Guarantor further agrees that, as between each 

  

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Guarantor, on the one hand, and the Holders and the Trustee on the other hand, (1) subject to this Article Twelve, the Maturity of the obligations
guaranteed hereby may be accelerated as provided in Article Five hereof for the purposes of the Guarantee of such Guarantor notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations
guaranteed hereby, and (2) in the event of any acceleration of such obligation as provided in Article Five hereof, such obligations (whether or not due and payable) shall forthwith become due and payable by each Guarantor for the purpose of the
Guarantee of such Guarantor. 
  
 Each Guarantee shall remain in
full force and effect and continue to be effective should any petition be filed by or against the Company for liquidation, reorganization, should the Company become insolvent or make an assignment for the benefit of creditors or should a receiver or
trustee be 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 be reinstated, as the case may be, if at any time payment and performance of the Notes
are, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on the Notes, 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, the Notes shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount
paid and not so rescinded, reduced, restored or returned. 
  
 SECTION 1202. Severability. In case any provision of any Guarantee 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 to the extent permitted by applicable law. 
  
 SECTION
1203. Restricted Subsidiaries. The Company shall cause any Restricted Subsidiary required to guarantee payment of the Notes pursuant to the terms and provisions of Section 1015 to (1) execute and deliver to the Trustee any amendment
or supplement to this Indenture in accordance with the provisions of Article Nine of this Indenture pursuant to which such Restricted Subsidiary shall guarantee all of the obligations on the Notes, whether for principal, premium, if any, interest
(including interest accruing after the filing of, or which would have accrued but for the filing of, a petition by or against the Company under any Bankruptcy Law, whether or not such interest is allowed as a claim after such filing in any
proceeding under such law) and other amounts due in connection therewith (including any fees, expenses and indemnities), on an unsecured senior subordinated basis and (2) deliver to such Trustee an Opinion of Counsel reasonably satisfactory to
such Trustee to the effect that such amendment or supplement has been duly executed and delivered by such Restricted Subsidiary and is in compliance with the terms of this Indenture. Upon the execution of any such amendment or supplement, the
obligations of the Guarantors and any such Restricted Subsidiary under their respective Guarantees shall become joint and several and each reference to the “Guarantor” in this Indenture shall, subject to Section 1207, be deemed to
refer to all Guarantors, including such Restricted Subsidiary. Such Guarantee shall be released in accordance with Section 803 and Section 1208. 
  

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 SECTION 1204. Limitation of Guarantors’ Liability. Each Guarantor and by its acceptance
hereof each Holder confirms that it is the intention of all such parties that the guarantee by each such Guarantor pursuant to its 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 or the provisions of its local law relating to fraudulent transfer or conveyance. To effectuate the foregoing intention, the Holders and each such
Guarantor hereby irrevocably agree that the obligations of such Guarantor under its Guarantee shall be limited to the maximum amount that shall not, after giving effect to all other contingent and fixed liabilities of such Guarantor and after giving
effect to any collections from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other Guarantor under its Guarantee or pursuant to this Section 1204, result in the obligations of such Guarantor under
its Guarantee constituting such fraudulent transfer or conveyance. 
  
 SECTION 1205. Contribution. In order to provide for just and equitable contribution among the Guarantors, the Guarantors agree, inter se, that in the event any payment or distribution is made by any Guarantor (a “Funding
Guarantor”) under a Guarantee, such Funding Guarantor shall be entitled to a contribution from all other Guarantors in a pro rata amount based on the Adjusted Net Assets (as defined below) of each Guarantor (including the Funding Guarantor) for
all payments, damages and expenses incurred by that Funding Guarantor in discharging the Company’s obligations with respect to the Notes or any other Guarantor’s obligations with respect to the Guarantee of such Guarantor. “Adjusted
Net Assets” of such Guarantor at any date shall mean the lesser of (1) the amount by which the fair value of the property of such Guarantor exceeds the total amount of liabilities, including contingent liabilities (after giving effect to
all other fixed and contingent liabilities incurred or assumed on such date), but excluding liabilities under the Guarantee of such Guarantor at such date and (2) the amount by which the present fair salable value of the assets of such
Guarantor at such date exceeds the amount that will be required to pay the probable liability of such Guarantor on its debts (after giving effect to all other fixed and contingent liabilities incurred or assumed on such date), excluding debt in
respect of the Guarantee of such Guarantor, as they become absolute and matured. 
  
 SECTION 1206. Subrogation. Each Guarantor shall be subrogated to all rights of Holders against the Company in respect of any amounts paid by any Guarantor pursuant to the provisions of Section 1201;
provided, however, that, if an Event of Default has occurred and is continuing, no Guarantor shall be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation until all amounts then due and
payable by the Company under this Indenture or the Notes shall have been paid in full. 
  
 SECTION 1207. Reinstatement. Each Guarantor hereby agrees (and each Person who becomes a Guarantor shall agree) that the Guarantee provided for in Section 1201 shall continue to be effective or be
reinstated, as the case may be, if at any time, payment, or any part thereof, of any obligations or interest thereon is rescinded or must otherwise be restored by a Holder to the Company upon the bankruptcy or insolvency of the Company or any
Guarantor. 
  

 97 

 SECTION 1208. Release of a Guarantor. Any Guarantee by a Restricted Subsidiary of the Notes shall
be automatically and unconditionally released and discharged upon: 
  
 (1) (A) consummation of any transaction (including a merger) permitted by this Indenture after which such Guarantor would no longer constitute a Restricted Subsidiary; provided that any sale of Capital Stock of
such Restricted Subsidiary that results from such transaction complies with the applicable provisions of this Indenture; 
  
 (B) the release or discharge of the guarantee by such Restricted Subsidiary which resulted in the creation of such Guarantee, except a
discharge or release by or as a result of payment under such guarantee; 
  
 (C) if the Company properly designates such Restricted Subsidiary that is a Guarantor as an Unrestricted Subsidiary or as an Excluded Subsidiary in accordance with the applicable provisions of this Indenture; or

  
 (D) the Legal Defeasance of the Notes under
Section 1302 hereof, or the Covenant Defeasance of the Notes under Section 1303 hereof, or if the Company’s obligations under this Indenture are discharged in accordance with Section 401; and 
  
 (2) such Guarantor has delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to such transaction have been satisfied. 
  
 If any Guarantor is released from its Guarantee, any of its Subsidiaries that are Guarantors shall be released from their
Guarantees. 
  
 SECTION 1209. Benefits Acknowledged. Each
Guarantor acknowledges that it shall receive direct and indirect benefits from the financing arrangements contemplated by this Indenture and from its guarantee and waivers pursuant to its Guarantees under this Article Twelve. 
  
 ARTICLE THIRTEEN 
  
 LEGAL DEFEASANCE AND COVENANT DEFEASANCE 
  
 SECTION 1301. Company’s Option to Effect Legal Defeasance or Covenant
Defeasance. The Company may, at its option by Board Resolution, at any time, with respect to the Notes, elect to have either Section 1302 or Section 1303 be applied to all Outstanding Notes upon compliance with the conditions set forth
below in this Article Thirteen. 
  
 SECTION 1302. Legal
Defeasance and Discharge. Upon the Company’s exercise under Section 1301 of the option applicable to this Section 1302, each of the Company and the Guarantors shall be deemed to have been discharged from its respective obligations
with respect to all Outstanding Notes on the date the conditions set forth in Section 1304 are satisfied (hereinafter, “Legal Defeasance”). For this purpose, such Legal Defeasance means that each of the Company and the Guarantors
shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Notes, which shall thereafter be deemed to be “Outstanding” only for the purposes of Section 1305 and the other Sections of this
Indenture referred to in (1) and (2) below, and to have satisfied all its other obligations under such Notes 

  

 98 

 
and this Indenture insofar as such Notes are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the
same), except for the following which shall survive until otherwise terminated or discharged hereunder: 
  
 (1) the rights of Holders of Outstanding Notes to receive payments in respect of the principal of, premium, if any, and interest and
Special Interest (if any) on such Notes when such payments are due, solely out of the trust described in Section 1304, 
  
 (2) the Company’s obligations with respect to such Notes under Sections 303, 304, 305, 1002 and 1003, 
  
 (3) the rights, powers, trusts, duties and immunities of the
Trustee hereunder, and the obligations of each of the Company and the Guarantors in connection therewith and 
  
 (4) this Section 1302. 
  
 Subject to compliance with this Article Thirteen, the Company may exercise its option under this Section 1302 notwithstanding the prior exercise of
its option under Section 1303 with respect to the Notes. 
  
 SECTION 1303. Covenant Defeasance. Upon the Company’s exercise under Section 1301 of the option applicable to this Section 1303, each of the Company and the Guarantors shall be released from its respective obligations
under any covenant contained in Sections 801, 802 and in Sections 1005, 1006, 1007 and 1009 through and including 1018 and Section 1021 with respect to the Outstanding Notes on and after the date the conditions set forth below are satisfied
(hereinafter, “Covenant Defeasance”), and the Notes shall thereafter be deemed not to be “Outstanding” for the purposes of any direction, waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in
connection with such covenants, but shall continue to be deemed “Outstanding” for all other purposes hereunder. For this purpose, such Covenant Defeasance means that, with respect to the Outstanding Notes, the Company or any Guarantor, as
applicable, may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by
reason of any reference in any such 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 Sections 501(3), 501(4), 501(5), 501(6) and 501(8) and, with
respect to only any Significant Subsidiary and not the Company, Section 501(7), but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby. 
  
 SECTION 1304. Conditions to Legal Defeasance or Covenant Defeasance.
The following shall be the conditions to application of either Section 1302 or Section 1303 to the Outstanding Notes: 
  
 (1) The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the
requirements of Section 608 who shall agree to comply with the provisions of this Article Thirteen 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 benefit of the Holders of such Notes: (A) cash in U.S. 

  

 99 

 
dollars, or (B) non-callable Government Securities, or (C) a combination thereof, in such amounts as will be 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 other qualifying trustee) to pay and discharge,
the principal of (and premium, if any) and interest on the Outstanding Notes on the Stated Maturity (or Redemption Date, if applicable) of such principal (and premium, if any, or, interest due on the Notes); provided that the Trustee shall
have been irrevocably instructed to apply such cash or the proceeds of such Government Securities to said payments with respect to the Notes. Before such a deposit, the Company may give to the Trustee, in accordance with Section 1103 hereof, a
notice of its election to redeem all of the Outstanding Notes at a future date in accordance with Article Eleven hereof, which notice shall be irrevocable. Such irrevocable redemption notice, if given, shall be given effect in applying the
foregoing; 
  
 (2) in the case of Legal
Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel in the United States reasonably acceptable to the Trustee confirming that, subject to customary assumptions and exclusions, 
  
 (A) the Company has received from, or there has been
published by, the United States Internal Revenue Service a ruling, or 
  
 (B) since the issuance of the Notes, there has been a change in the applicable U.S. Federal income tax law, 
  
 in either case to the effect that, and based thereon such Opinion of Counsel in the United States shall confirm that, subject to customary assumptions and
exclusions, the Holders of the Outstanding Notes will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such Legal Defeasance and will be subject to U.S. Federal income tax on the same amounts, in the same manner
and at the same times as would have been the case if such Legal Defeasance had not occurred; 
  
 (3) in the case of Covenant Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel in the United States
reasonably acceptable to the Trustee confirming that, subject to customary assumptions and exclusions, the Holders of the Outstanding Notes will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such Covenant
Defeasance and will be subject to such 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; 
  
 (4) no Default or Event of Default (other than that resulting from borrowing funds to be applied to make
such deposit and the granting of any Liens to secure such borrowing) shall have occurred and be continuing on the date of such deposit; 
  
 (5) such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under the Credit
Facilities or any other material agreement or instrument (other than this Indenture) to which, the Company or any Restricted Subsidiary is a party or by which the Company or any Restricted Subsidiary is bound; 
  

 100 

 (6) the Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that, any time in the period ending on the 91st day after the date of such deposit and subject to customary
assumptions and exclusions following the deposit, the trust funds will not be subject to the effect of any applicable Bankruptcy Law affecting creditors’ rights generally under any applicable U.S. Federal or state law, and that the Trustee has
a perfected security interest in such trust funds for the ratable benefit of the Holders of the Outstanding Notes; 
  
 (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 defeating, hindering, delaying or defrauding any creditors of the Company or any Guarantor or others; and 
  
 (8) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel (which Opinion of Counsel may
be subject to customary assumptions and exclusions) each stating that all conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance, as the case may be, have been satisfied. 
  
 SECTION 1305. Deposited Money and Government Securities to Be Held in
Trust; Other Miscellaneous Provisions. Subject to the provisions of the last paragraph of Section 1003, all cash and Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee,
collectively for purposes of this Section 1305, the “Qualifying Trustee”) pursuant to Section 1304 in respect of the Outstanding Notes shall be held in trust and applied by the Qualifying Trustee, in accordance with the
provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Qualifying Trustee may determine, to the Holders of such Notes of all sums due and
to become due thereon in respect of principal (and premium, if any) and interest, but such money or Government Securities need not be segregated from other funds except to the extent required by law. 
  
 The Company shall pay and indemnify the Qualifying Trustee against any tax,
fee or other charge imposed on or assessed against the Government Securities deposited pursuant to Section 1304 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 the Outstanding Notes. 
  
 Anything in
this Article Thirteen to the contrary notwithstanding, the Qualifying Trustee shall deliver or pay to the Company from time to time upon Company Request any money or Government Securities held by it as provided in Section 1304 which, in the
opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Qualifying Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an
equivalent Legal Defeasance or Covenant Defeasance, as applicable, in accordance with this Article. 
  

 101 

 SECTION 1306. Reinstatement. If the Trustee or any Paying Agent is unable to apply any money or
Government Securities in accordance with Section 1305 by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s and each Guarantor’s
obligations under this Indenture and the Outstanding Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 1302 or 1303, as the case may be, until such time as the Trustee or Paying Agent is permitted to
apply all such money or Government Securities in accordance with Section 1305; provided, however, that if the Company makes any payment of principal of (or premium, if any) or interest on any Note following the reinstatement of
its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government Securities held by the Trustee or Paying Agent. 
  
 ARTICLE FOURTEEN 
  
 SUBORDINATION 
  
 SECTION 1401. Agreement to Subordinate. The Company agrees, and each
Holder by accepting a Note agrees, that the Indebtedness evidenced by the Notes is subordinated in right of payment, to the extent and in the manner provided in this Article Fourteen, to the prior payment in full in cash of all Senior Debt of the
Company, including Senior Debt of the Company incurred after the date hereof. 
  
 SECTION 1402. Liquidation; Dissolution; Bankruptcy. The holders of Senior Debt of the Company shall be entitled to receive payment in full in cash of all Obligations due in respect of Senior Debt of the Company
(including interest after the commencement of any bankruptcy proceeding at the rate specified in the documentation for the applicable Senior Debt of the Company, whether or not such interest is an allowed claim under applicable law) before the
Holders shall be entitled to receive any payment with respect to the Notes (except that Holders may receive and retain Permitted Junior Securities and payments made from the trusts as permitted under Articles Four and Thirteen), in the event of any
distribution to creditors of the Company in connection with: 
  
 (a) any liquidation or dissolution of the Company; 
  
 (b) any bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company or its property; 
  
 (c) any assignment for the benefit of creditors; or

  
 (d) any marshaling of the Company’s
assets and liabilities. 
  
 SECTION 1403. Default on Designated
Senior Debt. The Company may not make any payment in respect of the Notes (except in Permitted Junior Securities or from the trusts as permitted under Articles Four and Thirteen) if: 
  
 (i) a default (a “payment default”) in the payment of principal, premium or interest on Designated
Senior Debt of the Company occurs and is continuing; or 
  

 102 

 (ii) any other default (a “nonpayment default”) occurs and is continuing on any
series of Designated Senior Debt of the Company that permits holders of that series of Designated Senior Debt of the Company to accelerate its maturity without further notice or passage of time (except such notice as may be required to effect such
acceleration) and the Trustee receives a notice of such default (a “Payment Blockage Notice”) from a representative of the holders of such Designated Senior Debt. 
  
 (b) Payments on the Notes may and shall be resumed: 
  
 (i) in the case of a payment default on Designated Senior
Debt of the Company, upon the date on which such default is cured or waived; and 
  
 (ii) in case of a nonpayment default on Designated Senior Debt of the Company, the earlier of (x) the date on which such default is
cured or waived, (y) 179 days after the date on which the applicable Payment Blockage Notice is received and (z) the date the Trustee receives notice from the representative for such Designated Senior Debt rescinding the Payment Blockage
Notice, unless, in each case, the maturity of such Designated Senior Debt of the Company has been accelerated. 
  
 (c) No new Payment Blockage Notice may be delivered unless and until: 
  
 (i) 360 days have elapsed since the delivery of the immediately prior Payment Blockage Notice; and

  
 (ii) all scheduled payments of principal,
interest and premium and Special Interest, if any, on the Notes that have come due have been paid in full in cash. 
  
 (d) No nonpayment default that existed or was continuing on the date of delivery of any Payment Blockage Notice to the Trustee shall be,
or be made, the basis for a subsequent Payment Blockage Notice unless such default has been cured or waived for a period of not less than 90 days. 
  
 (e) If the Trustee or any Holder of the Notes receives a payment in respect of the Notes (except in Permitted Junior Securities or from
the trusts as permitted under Articles Four and Thirteen) when: 
  
 (i) the payment is prohibited by this Article Fourteen; and 
  
 (ii) the Trustee or the Holder has actual knowledge that the payment is prohibited (provided that such actual knowledge shall not
be required in the case of any payment default on Designated Senior Debt), 
  
 the
Trustee or the Holder, as the case may be, shall hold the payment in trust for the benefit of the holders of Senior Debt of the Company. Upon the proper written request of the holders of Senior Debt of the Company, or if there is any payment default
on any Designated Senior Debt, 

  

 103 

 
the Trustee or the Holder, as the case may be, shall deliver the amounts in trust to the holders of Senior Debt of the Company or their proper
representative. 
  
 SECTION 1404. Subordination of
Guarantee. Payments under the Guarantees shall be subordinated to the prior payment in full of all Senior Debt of such Guarantor, including Senior Debt incurred after the date of this Indenture, on the same basis as the payments by the Company
on the Notes are subordinated to the prior payment in full of Senior Debt of the Company. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Guarantors only at
such times as they may receive and/or retain payments in respect of the Notes pursuant to this Indenture. 
  
 SECTION 1405. Acceleration of Securities. If payment of the Notes is accelerated because of an Event of Default, the Company shall promptly notify
holders of Senior Debt of the acceleration. 
  
 SECTION 1406.
When Distribution Must Be Paid Over. In the event that the Trustee or any Holder receives any payment of any Obligations with respect to the Notes (except in Permitted Junior Securities or as described under Articles Four and Thirteen) at a
time when the Trustee or such Holder, as applicable, has actual knowledge that such payment is prohibited by Article Fourteen, such payment shall be held by the Trustee or such Holder, as applicable, in trust for the benefit of, and shall be paid
forthwith over and delivered, upon written request, to the holders of Senior Debt or their representative, as their respective interests may appear, for application to the payment of all Obligations with respect to Senior Debt remaining unpaid to
the extent necessary to pay such Obligations in full in accordance with their terms, after giving effect to any concurrent payment or distribution to or for the holders of Senior Debt. 
  
 With respect to the holders of Senior Debt, the Trustee undertakes to perform only such obligations on the part of the
Trustee as are specifically set forth in this Article Fourteen, and no implied covenants or obligations with respect to the holders of Senior Debt shall be read into this Indenture against the Trustee. 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 if the Trustee shall pay over or distribute to or on behalf of Holders or the Company or any other Person money or assets to which any holders of Senior Debt
shall be entitled by virtue of this Article Fourteen, except if such payment is made as a result of the bad faith, willful misconduct or gross negligence of the Trustee. 
  
 SECTION 1407. Notice by the Company. The Company shall promptly notify the Trustee and the Paying Agent in writing of
any facts known to the Company that would cause a payment of any Obligations with respect to the Notes to violate this Article Fourteen, but failure to give such notice shall not affect the subordination of the Notes to the Senior Debt as provided
in this Article Fourteen. 
  
 SECTION 1408. Subrogation.
After all Senior Debt is paid in full and until the Notes are paid in full, Holders shall be subrogated (equally and ratably with all other Indebtedness pari passu with the Notes) to the rights of holders of Senior Debt to receive
distributions applicable to Senior Debt to the extent that distributions otherwise payable to the Holders have been applied to the payment of Senior Debt. A distribution made under this Article 

  

 104 

 
Fourteen to holders of Senior Debt that otherwise would have been made to Holders is not, as between the Company and Holders, a payment by the Company on the
Notes. 
  
 SECTION 1409. Relative Rights. This Article
Fourteen defines the relative rights of Holders and holders of Senior Debt. Nothing in this Indenture shall: 
  
 (a) impair, as between the Company and Holders, the obligation of the Company, which is absolute and unconditional, to pay principal of
and interest on the Notes in accordance with their terms; 
  
 (b) affect the relative rights of Holders and creditors of the Company other than their rights in relation to holders of Senior Debt; or 
  
 (c) prevent the Trustee or any Holder from exercising its available remedies upon a Default or Event of
Default, subject to the prior notice requirement set forth in Section 502(a) and the rights of holders and owners of Senior Debt to receive distributions and payments otherwise payable to Holders. 
  
 If the Company fails because of this Article Fourteen to pay principal of or
interest on a Note on the due date, the failure is still a Default or Event of Default. 
  
 SECTION 1410. Subordination May Not Be Impaired by the Company. No right of any holder of Senior Debt to enforce the subordination of the Indebtedness evidenced by the Notes shall be impaired by any act or
failure to act by the Company or any Holder or by the failure of the Company or any Holder to comply with this Indenture. 
  
 SECTION 1411. Distribution or Notice to Representative. Whenever a distribution is to be made or a notice given to holders of Senior Debt, the
distribution may be made and the notice given to the trustee, agent or representative for such Senior Debt. 
  
 Upon any payment or distribution of assets of the Company referred to in this Article Fourteen, the Trustee and the Holders shall be entitled to rely upon
any order or decree made by any court of competent jurisdiction or upon any certificate of such representative or of the liquidating trustee or agent or other Person making any distribution to the Trustee or to the Holders for the purpose of
ascertaining the Persons entitled to participate in such distribution, the holders of the 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 Fourteen. 
  
 SECTION 1412.
Rights of Trustee and Paying Agent. Notwithstanding this Article Fourteen or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit the making of any payment or
distribution by the Trustee, and the Trustee and the Paying Agent may continue to make payments on the Notes, unless the Trustee shall have received at its Corporate Trust Office at least five Business Days prior to the date of such payment written
notice of facts that would cause the payment of any Obligations with respect to the Notes to violate this Article Fourteen. Only the Company or the trustee, agent or representative for any Senior Debt may give the 

  

 105 

 
notice. Nothing in this Article Fourteen shall impair the claims of, or payments to, the Trustee under or pursuant to Section 607 hereof. 
  
 The Trustee in its individual or any other capacity may hold Senior Debt with
the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. 
  
 SECTION 1413. Authorization to Effect Subordination. Each Holder, by the Holder’s acceptance thereof, authorizes and directs the Trustee on
such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination as provided in this Article Fourteen, and appoints the Trustee to act as such Holder’s attorney-in-fact for any and all such
purposes. 
  
 SECTION 1414. Trustee Not Fiduciary for Holders
of Senior Indebtedness. 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 if the Trustee shall in good faith mistakenly pay over or distribute to Holders or 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 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 and no implied covenants or obligations with respect to holders of Senior Debt shall be read into this Indenture against the Trustee. 
  

 106 

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

			
	 RAINIER ACQUISITION CORP.

		
	By:	 	/s/ W. Earl Reed, III
	 	 	 Name: W. Earl Reed, III

	 	 	 Title:    Vice President

			
	U.S. BANK NATIONAL ASSOCIATION,
as Trustee
		
	By:	 	/s/ Richard Prokosch
	 	 	 Name: Richard Prokosch

	 	 	 Title:   Vice President

 Rule 144A / Regulation S / IAI Appendix 
  
 PROVISIONS RELATING TO INITIAL NOTES, 
 PRIVATE EXCHANGE NOTES 
 AND EXCHANGE
NOTES 
  
 1. Definitions. 
  
 1.1 Definitions. 
  
 For the purposes of this Appendix the following terms shall
have the meanings indicated below: 
  
 “Applicable Procedures” means, with respect to any transfer or transaction involving a Temporary Regulation S Global Note or beneficial interest therein, the rules and procedures of the Depository for such a Temporary Regulation S
Global Note, to the extent applicable to such transaction and as in effect from time to time. 
  
 “Definitive Note” means a certificated Initial Note or Exchange Note or Private Exchange Note bearing, if required, the
appropriate restricted notes legend set forth in Section 2.3(e). 
  
 “Depository” means The Depository Trust Company, its nominees and their respective successors. 
  
 “Distribution Compliance Period”, with respect to any Notes, means the period of 40 consecutive days beginning on and including
the later of (i) the day on which such Notes are first offered to Persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S and (ii) the issue date with respect to such Notes.

  
 “Exchange Notes” means (1) the
9 1/4% Senior Subordinated Notes Due 2013 issued pursuant to the Indenture in connection with a Registered
Exchange Offer pursuant to a Registration Rights Agreement and (2) Additional Notes, if any, issued pursuant to a registration statement filed with the SEC under the Securities Act. 
  
 “IAI” means an institutional “accredited
investor”, as defined in Rule 501(a)(1), (2), (3) and (7) of Regulation D under the Securities Act. 
  
 “Initial Notes” means (1) $150,000,000 aggregate principal amount of 9 1/4% Senior Subordinated Notes Due 2013 issued on the Issue Date and (2) Additional Notes, if any, issued in a transaction exempt from the registration
requirements of the Securities Act. 
  
 “Initial Purchasers” means (1) with respect to the Initial Notes issued on the Issue Date, Banc of America Securities LLC, J.P. Morgan Securities Inc. and ING Financial Markets LLC and (2) with respect to each issuance
of Additional Notes, the Persons purchasing such Additional Notes under the related Purchase Agreement. 

 “Notes” means the Initial Notes, the Exchange Notes and the Private Exchange
Notes, treated as a single class. 
  
 “Notes
Custodian” means the custodian with respect to a Global Notes (as appointed by the Depository), or any successor Person thereto and shall initially be the Trustee. 
  
 “Private Exchange” means the offer by the Company, pursuant to a Registration Rights Agreement, to
the Initial Purchasers to issue and deliver to each Initial Purchaser, in exchange for the Initial Notes held by the Initial Purchaser as part of its initial distribution, a like aggregate principal amount of Private Exchange Notes. 
  
 “Private Exchange Notes” means any 9 1/4% Senior Subordinated Notes Due 2013 issued in connection with a Private Exchange. 
  
 “Purchase Agreement” means (1) with respect
to the Initial Notes issued on the Issue Date, the Purchase Agreement dated August 5, 2005, among the Company, Banc of America Securities LLC, J.P. Morgan Securities Inc. and ING Financial Markets LLC and (2) with respect to each issuance
of Additional Notes, the purchase agreement or underwriting agreement among the Company, the Guarantors and the Persons purchasing such Additional Notes. 
  
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 
  
 “Registered Exchange Offer” means the offer by the
Company, pursuant to a Registration Rights Agreement, to certain Holders of Initial Notes, to issue and deliver to such Holders, in exchange for the Initial Notes, a like aggregate principal amount of Exchange Notes registered under the Securities
Act. 
  
 “Registration Rights
Agreement” means (1) with respect to the Initial Notes issued on the Issue Date, the Exchange and Registration Rights Agreement dated August 11, 2005, among the Company, the Guarantors, Banc of America Securities LLC, J.P. Morgan
Securities Inc. and ING Financial Markets LLC and (2) with respect to each issuance of Additional Notes issued in a transaction exempt from the registration requirements of the Securities Act, the registration rights agreement, if any, among
the Company and the Persons purchasing such Additional Notes under the related Purchase Agreement. 
  
 “Rule 144A Notes” means all Notes offered and sold to QIBs in reliance on Rule 144A. 
  
 “Securities Act” means the Securities Act of 1933.

  
 “Shelf Registration Statement”
means the registration statement issued by the Company in connection with the offer and sale of Initial Notes or Private Exchange Notes pursuant to a Registration Rights Agreement. 
  
 “Transfer Restricted Notes” means Notes that bear or are required to bear the legend relating to
restrictions on transfer relating to the Securities Act set forth in Section 2.3(e) hereto. 
  

 2 

 1.2 Other Definitions. 
  

			
	 Term

	  	Defined in Section:

	 “Agent Members”
	  	2.1(b)
	 “Global Notes”
	  	2.1(a)
	 “IAI Global Note”
	  	2.1(a)
	 “Permanent Regulation S Global Note”
	  	2.1(a)
	 “Regulation S”
	  	2.1(a)
	 “Regulation S Global Note”
	  	2.1(a)
	 “Rule 144A”
	  	2.1(a)
	 “Rule 144A Global Note”
	  	2.1(a)
	 “Temporary Regulation S Global Note”
	  	2.1(a)

  
 2. The Notes.

  
 2.1 (a) Form and Dating. The Initial Notes shall
be offered and sold by the Company pursuant to a Purchase Agreement. The Initial Notes shall be resold initially only to (i) QIBs in reliance on Rule 144A under the Securities Act (“Rule 144A”) and (ii) Persons other than U.S.
Persons (as defined in Regulation S) in reliance on Regulation S under the Securities Act (“Regulation S”). Initial Notes may thereafter be transferred to, among others, QIBs, IAIs and purchasers in reliance on Regulation S, subject to the
restrictions on transfer set forth herein. Initial Notes initially resold pursuant to Rule 144A shall be issued initially in the form of one or more permanent global Notes in definitive, fully registered form (collectively, the “Rule 144A
Global Note”); Initial Notes initially resold to IAIs shall be issued initially in the form of one or more permanent global Notes in definitive, fully registered form (collectively, the “IAI Global Note”); and Initial Notes initially
resold pursuant to Regulation S shall be issued initially in the form of one or more temporary global notes in fully registered form (collectively, the “Temporary Regulation S Global Note”), in each case without interest coupons and with
the global notes legend and the applicable restricted notes legend set forth in Exhibit 1 hereto, which shall be deposited on behalf of the purchasers of the Initial Notes represented thereby with the Notes Custodian and registered in the name of
the Depository or a nominee of the Depository, duly executed by the Company and authenticated by the Trustee as provided in the Indenture. Except as set forth in this Section 2.1(a), beneficial ownership interests in the Temporary Regulation S
Global Note shall not be exchangeable for interests in the Rule 144A Global Note, the IAI Global Note, a permanent global note (the “Permanent Regulation S Global Note”, and together with the Temporary Regulation S Global Note, the
“Regulation S Global Note”) or any other Note prior to the expiration of the Distribution Compliance Period and then, after the expiration of the Distribution Compliance Period, may be exchanged for interests in a Rule 144A Global Note, an
IAI Global Note or the Permanent Regulation S Global Note only upon certification in form reasonably satisfactory to the Trustee that (i) beneficial ownership interests in such Temporary Regulation S Global Note are owned either by Non-U.S.
Persons or U.S. persons who purchased such interests in a transaction that did not require registration under the Securities Act and (ii) in the case of an exchange for an IAI Global Note, certification that the interest in the Temporary
Regulation S Global Note is being transferred to an institutional “accredited investor” under the Securities Act that is an institutional accredited investor acquiring the Notes for its own account or for the account of an institutional
accredited investor. 
  

 3 

 Beneficial interests in Temporary Regulation S Global Notes or IAI Global Notes may be
exchanged for interests in Rule 144A Global Notes if (1) such exchange occurs in connection with a transfer of Notes in compliance with Rule 144A and (2) the transferor of the beneficial interest in the Temporary Regulation S Global Note
or the IAI Global Note, as applicable, first delivers to the Trustee a written certificate (in a form satisfactory to the Trustee) to the effect that the beneficial interest in the Temporary Regulation S Global Note or the IAI Global Note, as
applicable, is being transferred to a Person (a) who the transferor reasonably believes to be a QIB, (b) purchasing for its own account or the account of a QIB in a transaction meeting the requirements of Rule 144A, and (c) in
accordance with all applicable securities laws of the States of the United States and other jurisdictions. 
  
 Beneficial interests in Temporary Regulation S Global Notes and Rule 144A Global Notes may be exchanged for an interest in IAI Global
Notes if (1) such exchange occurs in connection with a transfer of the Notes in compliance with an exemption under the Securities Act and (2) the transferor of the Regulation S Global Note or Rule 144A Global Note, as applicable, first
delivers to the trustee a written certificate (substantially in the form of Exhibit 2) to the effect that (A) the Regulation S Global Note or Rule 144A Global Note, as applicable, is being transferred (a) to an “accredited
investor” within the meaning of 501(a)(1),(2),(3) and (7) under the Securities Act that is an institutional investor acquiring the Notes for its own account or for the account of such an institutional accredited investor, in each case in a
minimum principal amount of the Notes of $250,000, for investment purposes and not with a view to or for offer or sale in connection with any distribution in violation of the Securities Act and (B) in accordance with all applicable securities
laws of the States of the United States and other jurisdictions. 
  
 Beneficial interests in a Rule 144A Global Note or an IAI Global Note may be transferred to a Person who takes delivery in the form of an interest in a Regulation S Global Note, whether before or after the expiration
of the Distribution Compliance Period, only if the transferor first delivers to the Trustee a written certificate (in the form provided in the Indenture) to the effect that such transfer is being made in accordance with Rule 903 or 904 of Regulation
S or Rule 144 (if applicable). 
  
 The Rule 144A
Global Note, the IAI Global Note, the Temporary Regulation S Global Note and the Permanent Regulation S Global Note are collectively referred to herein as “Global Notes”. The aggregate principal amount of the Global Notes may from time to
time be increased or decreased by adjustments made on the records of the Trustee and the Depository or its nominee as hereinafter provided. 
  
 (b) Book-Entry Provisions. This Section 2.1(b) shall apply only to a Global Note deposited with or on behalf of the
Depository. 
  
 The Company shall execute and the
Trustee shall, in accordance with this Section 2.1(b), authenticate and deliver initially one or more Global Notes that (a) shall be registered in the name of the Depository for such Global Note or Global Notes or the nominee of such
Depository and (b) shall be delivered by the Trustee to such Depository or pursuant to such Depository’s instructions or held by the Trustee as custodian for the Depository. 
  

 4 

 Members of, or participants in, the Depository (“Agent Members”) shall have no
rights under the Indenture with respect to any Global Note held on their behalf by the Depository or by the Trustee as the custodian of the Depository or under such Global Note, and the Company, the Trustee and any agent of the Company or the
Trustee shall be entitled to treat the Depository as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee
from giving effect to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices of such Depository governing the exercise of
the rights of a holder of a beneficial interest in any Global Note. 
  
 (c) Definitive Notes. Except as provided in this Section 2.1 or Section 2.3 or 2.4, owners of beneficial interests in Global Notes shall not be entitled to receive physical delivery of Definitive
Notes. 
  
 2.2 Authentication. The Trustee shall
authenticate and deliver: (1) on the Issue Date, an aggregate principal amount of $150,000,000 million 9 1/4% Senior Subordinated Notes Due 2013, (2) any Additional Notes for an original issue in an aggregate principal amount specified in the written order of the Company pursuant to Section 202 of the Indenture and
(3) Exchange Notes or Private Exchange Notes for issue only in a Registered Exchange Offer or a Private Exchange, respectively, pursuant to a Registration Rights Agreement, for a like principal amount of Initial Notes, in each case upon a
written order of the Company signed by an Officer. Such order shall specify the amount of the Notes to be authenticated and the date on which the original issue of Notes is to be authenticated and, in the case of any issuance of Additional Notes
pursuant to Section 312 of the Indenture, shall certify that such issuance is in compliance with Section 1011 of the Indenture. 
  
 2.3 Transfer and Exchange. 
  
 (a) Transfer and Exchange of Definitive Notes. When Definitive Notes are presented to the Registrar with a request: 
  

	 	(x)	to register the transfer of such Definitive Notes; or 

  

	 	(y)	to exchange such Definitive Notes for an equal principal amount of Definitive Notes of other authorized denominations, 

  
 the Registrar shall register the transfer or make the exchange as requested if its reasonable
requirements for such transaction are met; provided, however, that the Definitive Notes surrendered for transfer or exchange: 
  
 (i) shall be duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the
Registrar, duly executed by the Holder thereof or its attorney duly authorized in writing; and 
  
 (ii) if such Definitive Notes are required to bear a restricted notes legend, are being transferred or exchanged pursuant to an effective
registration statement under the 

  

 5 

 
Securities Act, pursuant to Section 2.3(b) or pursuant to clause (A), (B) or (C) below, and are accompanied by the following additional
information and documents, as applicable: 
  
 (A)
if such Definitive Notes are being delivered to the Registrar by a Holder for registration in the name of such Holder, without transfer, a certification from such Holder to that effect; or 
  
 (B) if such Definitive Notes are being transferred to the
Company, a certification to that effect; or 
  
 (C) if such Definitive Notes are being transferred (x) pursuant to an exemption from registration in accordance with Rule 144A, Regulation S or Rule 144 under the Securities Act; or (y) in reliance upon another exemption from the
requirements of the Securities Act: (i) a certification to that effect (in the form set forth on the reverse of the Note) and (ii) if the Company so requests, an opinion of counsel or other evidence reasonably satisfactory to it as to the
compliance with the restrictions set forth in the legend set forth in Section 2.3(e)(i). 
  
 (b) Restrictions on Exchange of a Definitive Note for a Beneficial Interest in a Global Note. A Definitive Note may not be
exchanged for a beneficial interest in a Rule 144A Global Note, an IAI Global Note or a Permanent Regulation S Global Note except upon satisfaction of the requirements set forth below. Upon receipt by the Trustee of a Definitive Note, duly endorsed
or accompanied by appropriate instruments of transfer, in form satisfactory to the Trustee, together with: 
  
 (i) certification, in the form set forth on the reverse of the Note, that such Definitive Note is either (A) being transferred to a
QIB in accordance with Rule 144A, (B) being transferred to an IAI or (C) being transferred after expiration of the Distribution Compliance Period by a Person who initially purchased such Note in reliance on Regulation S to a buyer who
elects to hold its interest in such Note in the form of a beneficial interest in the Permanent Regulation S Global Note; 
  
 (ii) written instructions directing the Trustee to make, or to direct the Notes Custodian to make, an adjustment on its books and records
with respect to such Rule 144A Global Note (in the case of a transfer pursuant to clause (b)(i)(A)), IAI Global Note (in the case of a transfer pursuant to clause (b)(1)(B)) or Permanent Regulation S Global Note (in the case of a transfer pursuant
to clause (b)(i)(C)) to reflect an increase in the aggregate principal amount of the Notes represented by the Rule 144A Global Note, IAI Global Note or Permanent Regulation S Global Note, as applicable, such instructions to contain information
regarding the Depository account to be credited with such increase, and 
  
 (iii) if the Registrar or the Company so requests or if the Applicable Procedures so require, an opinion of counsel in form reasonably acceptable to the Registrar and the Company to the effect that such exchange or
transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the 

  

 6 

 
applicable restricted notes legend is no longer required in order to maintain compliance with the Securities Act. 
  
 then the Trustee shall cancel such Definitive Note and cause, or direct the Notes Custodian
to cause, in accordance with the standing instructions and procedures existing between the Depository and the Notes Custodian, the aggregate principal amount of Notes represented by the Rule 144A Global Note, IAI Global Note or Permanent Regulation
S Global Note, as applicable, to be increased by the aggregate principal amount of the Definitive Note to be exchanged and shall credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the
Rule 144A Global Note, IAI Global Note or Permanent Regulation S Global Note, as applicable, equal to the principal amount of the Definitive Note so canceled. If no Rule 144A Global Notes, IAI Global Notes or Permanent Regulation S Global Notes, as
applicable, are then outstanding, the Company shall issue and the Trustee shall authenticate, upon written order of the Company in the form of an Officers’ Certificate of the Company, a new Rule 144A Global Note, IAI Global Note or Permanent
Regulation S Global Note, as applicable, in the appropriate principal amount. 
  
 (c) Transfer and Exchange of Global Notes. 
  
 (i) The transfer and exchange of Global Notes or beneficial interests therein shall be effected through the Depository, in accordance with
the Indenture (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depository therefor. A transferor of a beneficial interest in a Global Note shall deliver to the Registrar a written order given in
accordance with the Depository’s procedures containing information regarding the participant account of the Depository to be credited with a beneficial interest in the Global Note. The Registrar shall, in accordance with such instructions
instruct the Depository to credit to the account of the Person specified in such instructions a beneficial interest in the Global Note and to debit the account of the Person making the transfer the beneficial interest in the Global Note being
transferred. 
  
 (ii) If the proposed transfer is
a transfer of a beneficial interest in one Global Note to a beneficial interest in another Global Note, the Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Note to which such interest
is being transferred in an amount equal to the principal amount of the interest to be so transferred, and the Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of the Global Note from
which such interest is being transferred. 
  
 (iii) Notwithstanding any other provisions of this Appendix (other than the provisions set forth in Section 2.4), a Global Note may not be transferred as a whole except by the Depository to a nominee of the Depository or by a nominee
of the Depository to the Depository or another nominee of the Depository or by the Depository or any such nominee to a successor Depository or a nominee of such successor Depository. 
  
 (iv) In the event that a Transfer Restricted Note represented by a Global Note is exchanged for an
unrestricted Global Note pursuant to this Section 2.3, prior to the 

  

 7 

 
consummation of a Registered Exchange Offer or the effectiveness of a Shelf Registration Statement with respect to such Notes, such Notes may be exchanged
only in accordance with such procedures as are substantially consistent with the provisions hereof (including the certification requirements set forth on the reverse of the Initial Notes intended to ensure that such transfers comply with Rule 144A,
Regulation S or another applicable exemption under the Securities Act, as the case may be) and such other procedures as may from time to time be adopted by the Company. 
  
 (v) In the event that a Global Note is exchanged for Definitive Notes pursuant to Section 2.4 of this
Appendix, prior to the consummation of a Registered Exchange Offer or the effectiveness of a Shelf Registration Statement with respect to such Notes, such Notes may be exchanged only in accordance with such procedures as are substantially consistent
with the provisions of this Section 2.3 (including the certification requirements set forth on the reverse of the Initial Notes intended to ensure that such transfers comply with Rule 144A, Regulation S or another applicable exemption under the
Securities Act, as the case may be) and such other procedures as may from time to time be adopted by the Company. 
  
 (d) Restrictions on Transfer of Temporary Regulation S Global Notes. During the Distribution Compliance Period, beneficial
ownership interests in Temporary Regulation S Global Notes may only be sold, pledged or transferred in accordance with the Applicable Procedures and only (i) to the Company, (ii) in an offshore transaction in accordance with Regulation S
(other than a transaction resulting in an exchange for an interest in a Permanent Regulation S Global Note) or (iii) pursuant to an effective registration statement under the Securities Act, in each case in accordance with any applicable
securities laws of any State of the United States. 
  
 (e) Legend. 
  
 (i) Except as
permitted by the following paragraphs (ii), (iii) and (iv), each Note certificate evidencing the Global Notes (and all Notes issued in exchange therefor or in substitution thereof), in the case of Notes offered otherwise than in reliance on
Regulation S shall bear a legend in substantially the following form: 
  
 THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
  
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR
OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE WHICH IS TWO YEARS AFTER THE LATER OF THE 

  

 8 

 
ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS NOTE (OR ANY PREDECESSOR OF THIS
NOTE) (THE “RESALE RESTRICTION TERMINATION DATE”) ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR
RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A
QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER
THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (i) PURSUANT
TO CLAUSE (D) PRIOR TO THE END OF THE 40 DAY DISTRIBUTION COMPLIANCE PERIOD WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR PURSUANT TO CLAUSE (E) PRIOR TO THE RESALE RESTRICTION TERMINATION DATE TO REQUIRE THE DELIVERY OF
AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND (ii) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THIS NOTE IS COMPLETED AND DELIVERED BY THE
TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF A HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 
  
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN
PART, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
  

 9 

 Each certificate evidencing a Note offered in reliance on Regulation S shall, in addition
to the foregoing, bear a legend in substantially the following form: 
  
 THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR
TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN
REGULATION S UNDER THE SECURITIES ACT. 
  
 Each
Definitive Note shall also bear the following additional legend: 
  
 IN CONNECTION WITH ANY TRANSFER, THE HOLDER SHALL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING
RESTRICTIONS. 
  
 (ii) Upon any sale or transfer
of a Transfer Restricted Note (including any Transfer Restricted Note represented by a Global Note) pursuant to Rule 144 under the Securities Act, the Registrar shall permit the transferee thereof to exchange such Transfer Restricted Note for a
certificated Note that does not bear the legend set forth above and rescind any restriction on the transfer of such Transfer Restricted Note if the transferor thereof certifies in writing to the Registrar that such sale or transfer was made in
reliance on Rule 144 (such certification to be in the form set forth on the reverse of the Note). 
  
 (iii) After a transfer of any Initial Notes or Private Exchange Notes pursuant to and during the period of the effectiveness of a Shelf
Registration Statement with respect to such Initial Notes or Private Exchange Notes, as the case may be, all requirements pertaining to legends on such Initial Note or such Private Exchange Note shall cease to apply, the requirements requiring any
such Initial Note or such Private Exchange Note issued to certain Holders be issued in global form shall cease to apply, and a certificated Initial Note or Private Exchange Note or an Initial Note or Private Exchange Note in global form, in each
case without restrictive transfer legends, shall be available to the transferee of the Holder of such Initial Notes or Private Exchange Notes upon exchange of such transferring Holder’s certificated Initial Note or Private Exchange Note or
directions to transfer such Holder’s interest in the Global Note, as applicable. 
  
 (iv) Upon the consummation of a Registered Exchange Offer with respect to the Initial Notes, all requirements pertaining to such Initial
Notes that Initial Notes issued to certain Holders be issued in global form shall still apply with respect to Holders of such Initial Notes that do not exchange their Initial Notes, and Exchange Notes in certificated or global form, in each case
without the 

  

 10 

 
restricted notes legend set forth in Exhibit 1 hereto shall be available to Holders that exchange such Initial Notes in such Registered Exchange Offer.

  
 (v) Upon the consummation of a Private
Exchange with respect to the Initial Notes, all requirements pertaining to such Initial Notes that Initial Notes issued to certain Holders be issued in global form shall still apply with respect to Holders of such Initial Notes that do not exchange
their Initial Notes, and Private Exchange Notes in global form with the global notes legend and the applicable restricted notes legend set forth in Exhibit 1 hereto shall be available to Holders that exchange such Initial Notes in such Private
Exchange. 
  
 (f) Cancellation or Adjustment
of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Definitive Notes, redeemed, purchased or canceled, such Global Note shall be returned to the Depository for cancellation or retained and
canceled by the Trustee. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for certificated Notes, redeemed, purchased or canceled, the principal amount of Notes represented by such Global Note shall be
reduced and an adjustment shall be made on the books and records of the Trustee (if it is then the Notes Custodian for such Global Note) with respect to such Global Note, by the Trustee or the Notes Custodian, to reflect such reduction. 

 
 (g) No Obligation of the Trustee. 
  
 (i) The Trustee shall have no responsibility or obligation
to any beneficial owner of a Global Note, a member of, or a participant in the Depository or other Person with respect to the accuracy of the records of the Depository or its nominee or of any participant or member thereof, with respect to any
ownership interest in the Notes or with respect to the delivery to any participant, member, beneficial owner or other Person (other than the Depository) of any notice (including any notice of redemption) or the payment of any amount, under or with
respect to such Notes. All notices and communications to be given to the Holders and all payments to be made to Holders under the Notes shall be given or made only to or upon the order of the registered Holders (which shall be the Depository or its
nominee in the case of a Global Note). The rights of beneficial owners in any Global Note shall be exercised only through the Depository subject to the applicable rules and procedures of the Depository. The Trustee may rely and shall be fully
protected in relying upon information furnished by the Depository with respect to its members, participants and any beneficial owners. 
  
 (ii) The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer
imposed under the Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Depository participants, members or beneficial owners in any Global Note) other than to require
delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of the Indenture, and 

  

 11 

 
to examine the same to determine substantial compliance as to form with the express requirements hereof. 
  
 2.4 Definitive Notes. 
  
 (a) A Global Note deposited with the Depository or with the
Trustee as Notes Custodian for the Depository pursuant to Section 2.1 shall be transferred to the beneficial owners thereof in the form of Definitive Notes in an aggregate principal amount equal to the principal amount of such Global Note, in
exchange for such Global Note, only if such transfer complies with Section 2.3 hereof and (i) the Depository notifies the Company that it is unwilling or unable to continue as Depository for such Global Note or if at any time such
Depository ceases to be a “clearing agency” registered under the Exchange Act and, in either case, the Company fails to appoint a successor depository within 90 days after receiving such notice or becoming aware of such condition, as
applicable, or (ii) an Event of Default has occurred and is continuing or (iii) the Company, in its sole discretion, notifies the Trustee in writing that it elects to cause the issuance of Definitive Notes under the Indenture. 

 
 (b) Any Global Note that is transferable to the
beneficial owners thereof pursuant to this Section 2.4 shall be surrendered by the Depository to the Trustee located at its principal corporate trust office in the Borough of Manhattan, The City of New York, to be so transferred, in whole or
from time to time in part, without charge, and the Trustee shall authenticate and deliver, upon such transfer of each portion of such Global Note, an equal aggregate principal amount of Definitive Notes of authorized denominations. Any portion of a
Global Note transferred pursuant to this Section 2.4 shall be executed, authenticated and delivered only in denominations of $1,000 principal amount and any integral multiple thereof and registered in such names as the Depository shall direct.
Any Definitive Note delivered in exchange for an interest in the Transfer Restricted Note shall, except as otherwise provided by Section 2.3(e) hereof, bear the applicable restricted notes legend and definitive notes legend set forth in Exhibit
1 hereto. 
  
 (c) Subject to the provisions of
Section 2.4(b) hereof, the registered Holder of a Global Note shall be entitled to grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a
Holder is entitled to take under the Indenture or the Notes. 
  
 (d) In the event of the occurrence of one of the events specified in Section 2.4(a) hereof, the Company shall promptly make available to the Trustee a reasonable supply of Definitive Notes in definitive, fully
registered form without interest coupons. In the event that such Definitive Notes are not issued, the Company expressly acknowledges, with respect to the right of any Holder to pursue a remedy pursuant to the Indenture, including pursuant to
Section 507, the right of any beneficial owner of Notes to pursue such remedy with respect to the portion of the Global Note that represents such beneficial owner’s Notes as if such Definitive Notes had been issued. 
  

 12 

 EXHIBIT 1 
  

to Rule 144A / Regulation S / IAI Appendix 
  
 [FORM OF FACE OF INITIAL NOTE] 
  
 [Global Notes Legend] 
  
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK,
NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS 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. 
  
 TRANSFERS
OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE
WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
  
 [[FOR REGULATION S GLOBAL NOTE ONLY] UNTIL 40 DAYS AFTER THE LATER OF COMMENCEMENT OR COMPLETION OF THE OFFERING, AN OFFER OR SALE OF SECURITIES WITHIN THE UNITED STATES BY A DEALER (AS DEFINED IN THE SECURITIES ACT)
MAY VIOLATE THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IF SUCH OFFER OR SALE IS MADE OTHERWISE THAN IN ACCORDANCE WITH RULE 144A THEREUNDER.] 
  
 [Restricted Notes Legend for Notes offered otherwise than in Reliance on Regulation S] 
  
 THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY
STATE SECURITIES LAWS. NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
  
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE WHICH IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF 

 
AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) (THE “RESALE
RESTRICTION TERMINATION DATE”) ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE
144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER
TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR
(E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (i) PURSUANT TO CLAUSE
(D) PRIOR TO THE END OF THE 40 DAY DISTRIBUTION COMPLIANCE PERIOD WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR PURSUANT TO CLAUSE (E) PRIOR TO THE RESALE RESTRICTION TERMINATION DATE TO REQUIRE THE DELIVERY OF AN OPINION
OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND (ii) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THIS NOTE IS COMPLETED AND DELIVERED BY THE TRANSFEROR
TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF A HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 
  
 [Restricted Notes Legend for Notes Offered in Reliance on Regulation S] 
  
 THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT. 
  
 [Temporary Regulation S Global Note Legend] 
  
 EXCEPT AS SET FORTH BELOW, BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE SHALL NOT BE
EXCHANGEABLE FOR INTERESTS IN THE PERMANENT REGULATION S GLOBAL NOTE OR ANY OTHER NOTE REPRESENTING AN INTEREST IN THE NOTES REPRESENTED HEREBY WHICH DO NOT CONTAIN A LEGEND CONTAINING RESTRICTIONS ON TRANSFER, UNTIL THE EXPIRATION OF THE
“40-DAY 

  

 2 

 
DISTRIBUTION COMPLIANCE PERIOD” (WITHIN THE MEANING OF RULE 903(b)(2) OF REGULATION S UNDER THE SECURITIES ACT) AND THEN ONLY UPON CERTIFICATION IN FORM
REASONABLY SATISFACTORY TO THE TRUSTEE THAT SUCH BENEFICIAL INTERESTS ARE OWNED EITHER BY NON-U.S. PERSONS OR U.S. PERSONS WHO PURCHASED SUCH INTERESTS IN A TRANSACTION THAT DID NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT. DURING SUCH 40-DAY
DISTRIBUTION COMPLIANCE PERIOD, BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE MAY ONLY BE SOLD, PLEDGED OR TRANSFERRED (I) TO THE COMPANY, (II) OUTSIDE THE UNITED STATES IN A TRANSACTION IN ACCORDANCE WITH RULE 904
OF REGULATION S UNDER THE SECURITIES ACT, OR (III) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (III) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES.
HOLDERS OF INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE SHALL NOTIFY ANY PURCHASER OF THIS NOTE OF THE RESALE RESTRICTIONS REFERRED TO ABOVE, IF THEN APPLICABLE. 
  
 AFTER THE EXPIRATION OF THE DISTRIBUTION COMPLIANCE PERIOD BENEFICIAL INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE
MAY BE EXCHANGED FOR INTERESTS IN A RULE 144A GLOBAL NOTE ONLY IF (1) SUCH EXCHANGE OCCURS IN CONNECTION WITH A TRANSFER OF THE NOTES IN COMPLIANCE WITH RULE 144A AND (2) THE TRANSFEROR OF THE REGULATION S GLOBAL NOTE FIRST DELIVERS TO THE
TRUSTEE A WRITTEN CERTIFICATE (IN THE FORM ATTACHED TO THIS CERTIFICATE) TO THE EFFECT THAT THE REGULATION S GLOBAL NOTE IS BEING TRANSFERRED (A) TO A PERSON WHO THE TRANSFEROR REASONABLY BELIEVES TO BE A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A, (B) TO A PERSON WHO IS PURCHASING FOR ITS OWN ACCOUNT OR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, AND (C) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES
LAWS OF THE STATES OF THE UNITED STATES AND OTHER JURISDICTIONS. 
  
 AFTER THE EXPIRATION OF THE DISTRIBUTION COMPLIANCE PERIOD, BENEFICIAL INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE MAY BE EXCHANGED FOR INTERESTS IN AN IAI GLOBAL NOTE ONLY IF (1) SUCH EXCHANGE OCCURS IN CONNECTION WITH A
TRANSFER OF THE NOTES IN COMPLIANCE WITH AN EXEMPTION UNDER THE SECURITIES ACT AND (2) THE TRANSFEROR OF THE REGULATION S GLOBAL NOTE FIRST DELIVERS TO THE TRUSTEE A WRITTEN CERTIFICATE (IN THE FORM ATTACHED TO THIS CERTIFICATE) TO THE EFFECT
THAT THE REGULATION S GLOBAL NOTE IS BEING TRANSFERRED (A) TO AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(A)(1),(2),(3) OR (7) UNDER THE SECURITIES ACT THAT, PRIOR TO SUCH TRANSFER, FURNISHES THE TRUSTEE A SIGNED
LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE TRANSFER OF THIS NOTE (THE FORM OF WHICH CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN $250,000, AN
OPINION OF COUNSEL ACCEPTABLE TO THE 

  

 3 

 
COMPANY THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT AND (B) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE
UNITED STATES AND OTHER JURISDICTIONS. 
  
 BENEFICIAL INTERESTS IN
A RULE 144A GLOBAL NOTE OR AN IAI GLOBAL NOTE MAY BE TRANSFERRED TO A PERSON WHO TAKES DELIVERY IN THE FORM OF AN INTEREST IN THE REGULATION S GLOBAL NOTE, WHETHER BEFORE OR AFTER THE EXPIRATION OF THE 40-DAY DISTRIBUTION COMPLIANCE PERIOD, ONLY IF
THE TRANSFEROR FIRST DELIVERS TO THE TRUSTEE A WRITTEN CERTIFICATE (IN THE FORM ATTACHED TO THIS CERTIFICATE) TO THE EFFECT THAT SUCH TRANSFER IS BEING MADE IN ACCORDANCE WITH RULE 903 OR 904 OF REGULATION S OR RULE 144 (IF AVAILABLE). 

 
 [Definitive Notes Legend] 
  
 IN CONNECTION WITH ANY TRANSFER, THE HOLDER SHALL DELIVER TO THE REGISTRAR
AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 
  

 4 

			
	 No.            
	 	$         

  
 9 1/4% Senior Subordinated Notes Due 2013 
  
 Rainier Acquisition Corp., a Delaware corporation, promises to pay to
                    , or registered assigns, the principal sum of
            Dollars on August 15, 2013. 
  
 Interest Payment Dates: February 15 and August 15. 
  
 Record Dates: February 1 and August 1. 
  
 Additional provisions of this Note are set forth on the other side of this Note. 
  
 Dated: 
  

			
	 RAINIER ACQUISITION CORP.

		
	 By
	 	 
	 	 	 Name:
 Title:

		
	 By
	 	 
	 	 	 Name:
 Title:

  

			
	 TRUSTEE’S CERTIFICATE OF AUTHENTICATION

	
	 U.S. BANK NATIONAL ASSOCIATION

	 	 	as Trustee, certifies that this is one of the Notes referred to in the Indenture.
		
	 By
	 	 
	 	 	 Authorized Signatory

 [FORM OF REVERSE SIDE OF INITIAL NOTE] 
  
 9 1/4% Senior Subordinated Note Due 2013 
  

	1.	Principal and Interest. 

  
 The Company shall pay the principal of this Note on August 15, 2013. 
  
 The Company promises to pay interest and Special Interest, if any, on the principal amount of this Note on each Interest
Payment Date, as set forth below, at the rate of 9 1/4% per annum (subject to adjustment as provided below).

  
 Interest, and Special Interest, if any, shall be
payable semi-annually (to the Holders of record of the Notes (or any Predecessor Notes) at the close of business on February 1 or August 1 immediately preceding the Interest Payment Date) on each Interest Payment Date, commencing
[    ]. 
  
 The Holder of this Note is
entitled to the benefits of the Exchange and Registration Rights Agreement, dated August 11, 2005, among the Company, the Guarantors and the Initial Purchasers named therein (the “Registration Rights Agreement”). 
  
 Interest on this Note shall accrue from the most recent date to which
interest has been paid or, if no interest has been paid, from August 11, 2005; provided that, if there is no existing default in the payment of interest and if this Note is authenticated between a Regular Record Date referred to on the
face hereof and the next succeeding Interest Payment Date, interest shall accrue from such Interest Payment Date. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. 
  
 The Company shall pay interest and Special Interest if any, on overdue
principal and premium, if any, and interest on overdue installments of interest, to the extent lawful, at a rate per annum equal to the rate of interest applicable to the Notes. 
  

	2.	Method of Payment. 

  
 The Company shall pay interest (except Defaulted Interest) on the principal amount of the Notes on each February 15 and August 15 to the Persons
who are Holders (as reflected in the Note Register at the close of business on February 1 and August 1 immediately preceding the Interest Payment Date), in each case, even if the Note is cancelled on registration of transfer or
registration of exchange after such Regular Record Date; provided that, with respect to the payment of principal, the Company shall make payment to the Holder that surrenders this Note to any Paying Agent on or after August 15, 2013.

  
 The Company shall pay principal (premium, if any) and interest
in money of the United States that at the time of payment is legal tender for payment of public and private debts. However, the Company may pay principal (premium, if any) and interest by its check payable in such money. The Company may pay interest
on the Notes either (a) by mailing a check for such interest to a Holder’s registered address (as reflected in the Note Register) or (b) by wire transfer to an account located in the United States maintained by the payee. If a payment
date is a date 

  

 2 

 
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. 
  

	3.	Paying Agent and Note Registrar. 

  
 Initially, U.S. Bank National Association, a New York banking corporation (the “Trustee”) shall act as Paying Agent and Note Registrar. The
Company may change any Paying Agent or Note Registrar upon written notice thereto. The Company, any Subsidiary or any Affiliate of any of them may act as Paying Agent, Note Registrar or co-registrar. 
  

	4.	Indenture. 

  
 The Company issued the Notes under an Indenture dated as of August 11, 2005 (the “Indenture”), among the Company and the Trustee.
Capitalized terms herein are used as defined in the Indenture unless otherwise indicated. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act. The Notes are
subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act 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 Note and the
terms of the Indenture, the terms of the Indenture shall control. 
  
 The Notes are unsecured senior obligations of the Company. The Indenture does not limit the aggregate principal amount of the Notes. 
  

	5.	Redemption. 

  
 Optional Redemption. At any time prior to August 15, 2009, the Company may redeem all or a part of the Notes, upon not less than 30 nor more
than 60 days’ prior notice mailed by first-class mail to each Holder’s registered address, at a redemption price equal to 100% of the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest and
Special Interest, if any, to the Redemption Date, subject to the rights of Holders on the relevant record date to receive interest due on the relevant Interest Payment Date. 
  
 On and after August 15, 2009, the Company may redeem the Notes, in whole or in part, upon not less than 30 nor more
than 60 days’ prior notice by first class mail, postage prepaid, with a copy to the Trustee, to each Holder to the address of such Holder appearing in the Note Register at the Redemption Prices (expressed as percentages of principal amount) set
forth below, plus accrued and unpaid interest thereon and Special Interest, if any, to the applicable 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, if redeemed during the twelve-month period beginning on August 15 of each of the years indicated below: 
  

				
	 Year

	  	Percentage

	 
	 2009
	  	104.625	%
	 2010
	  	102.313	%
	 2011 and thereafter
	  	100.000	%

  

 3 

 In addition, prior to August 15, 2008, the Company may, at its option, redeem up to 35% of the
aggregate principal amount of Notes issued under the Indenture (including any Additional Notes) at a redemption price equal to 109.25% of the aggregate principal amount thereof, plus accrued and unpaid interest thereon and Special Interest, if any,
to the applicable 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, with the net cash proceeds of one or more Equity Offerings of the Company or any
direct or indirect parent of the Company to the extent such net cash proceeds are contributed to the Company; provided that at least 65% of the sum of the aggregate principal amount of Notes originally issued under the Indenture remains
outstanding immediately after the occurrence of each such redemption; provided further that each such redemption occurs within 90 days of the date of closing of each such Equity Offering. 
  

	6.	Repurchase upon a Change of Control and Asset Sales. 

  
 Upon the occurrence of (a) a Change of Control, the Holders of the Notes shall have the right to require that the Company purchase such Holder’s
Outstanding Notes, in whole or in part, at a purchase price of 101% of the principal amount thereof, plus accrued and unpaid interest and Special Interest, if any, to the date of purchase and (b) Asset Sales, the Company may be obligated to
make offers to purchase Notes and pari passu Indebtedness with a portion of the Net Proceeds of such Asset Sales at a redemption price of 100% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase.

  

	7.	Denominations; Transfer; Exchange. 

  
 The Notes are in registered form without coupons in denominations of $1,000 principal amount and whole multiples of $1,000. A Holder may transfer or
exchange Notes in accordance with the Indenture. The Note Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The
Note Registrar need not register the transfer or exchange of any Notes selected for redemption (except, in the case of a Note to be redeemed in part, the portion of the Note not to be redeemed) or any Notes for a period of 15 days before a selection
of Notes to be redeemed or 15 days before an Interest Payment Date. 
  

	8.	Persons Deemed Owners. 

  
 A registered Holder may be treated as the owner of a Note for all purposes. 
  

	9.	Unclaimed Money. 

  
 If money for the payment of principal (premium, if any) or interest remains unclaimed for two years, the Trustee and the Paying Agent shall pay the money
back to the Company at its written 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. 
  

 4 

	10.	Discharge and Defeasance Prior to Redemption or Maturity. 

  
 If the Company irrevocably deposits, or causes to be deposited, with the Trustee money or Government Securities sufficient to pay the then outstanding
principal of (premium, if any) and accrued interest on the Notes (a) to Redemption or Maturity Date, the Company shall be discharged from its obligations under the Indenture and the Notes, except in certain circumstances for certain covenants
thereof, and (b) to the Stated Maturity, the Company shall be discharged from certain covenants set forth in the Indenture. 
  

	11.	Amendment; Supplement; Waiver. 

  
 Subject to certain exceptions, the Indenture or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in
aggregate principal amount of the Outstanding Notes, and any existing Default or compliance with any provision may be waived with the consent of the Holders of a majority in aggregate principal amount of the Outstanding Notes. Without notice to or
the consent of any Holder, the parties thereto may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or inconsistency and make any change that does not adversely affect the rights of any Holder.

  

	12.	Restrictive Covenants. 

  
 The Indenture contains certain covenants, including covenants with respect to the following matters: (i) Restricted Payments; (ii) incurrence of
Indebtedness and issuance of Disqualified Stock; (iii) Liens; (iv) transactions with Affiliates; (v) dividend and other payment restrictions affecting Restricted Subsidiaries; (vi) guarantees of Indebtedness by Restricted
Subsidiaries; (vii) merger and certain transfers of assets; (viii) purchase of Notes upon a Change in Control; (x) disposition of proceeds of Asset Sales and (xi) senior subordinated debt. Within 120 days (or the successor time
period then in effect under the rules and regulations of the Exchange Act) after the end of each fiscal year, the Company must report to the Trustee on compliance with such limitations. 
  

	13.	Successor Persons. 

  
 When a successor Person or other entity assumes all the obligations of its predecessor under the Notes and the Indenture, the predecessor Person shall be
released from those obligations. 
  

	14.	Remedies for Events of Default. 

  
 If an Event of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 30% in principal amount of the
Outstanding Notes may declare all the Notes to be immediately due and payable. If a bankruptcy or insolvency default with respect to the Company or any of its Significant Subsidiaries occurs and is continuing, the Notes automatically become
immediately due and payable. Subject to the provisions of the Indenture relating to the duties of the Trustee, in case an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any rights or powers under the
Indenture at the request or direction of any of the Holders of the Notes unless such Holders have offered to the 

  

 5 

 
Trustee reasonable indemnity or security against any loss, liability or expense. Subject to certain restrictions, the Holders of a majority in principal
amount of the Outstanding Notes are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may
refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder of a Note or that would involve the Trustee in personal liability. 
  

	15.	Guarantees. 

  
 The Company’s obligations under the Notes are fully, irrevocably and unconditionally guaranteed on an unsecured senior subordinated basis, to the
extent set forth in the Indenture, by each of the Guarantors. 
  

	16.	Trustee Dealings with Company. 

  
 The Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may make loans to, accept deposits
from, perform services for, and otherwise deal with, the Company and its Affiliates as if it were not the Trustee. 
  

	17.	Authentication. 

  
 This Note shall not be valid until the Trustee signs the certificate of authentication on the other side of this Note. 
  

	18.	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). 
  

	19.	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 Notes and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of
redemption and reliance may be placed only on the other identification numbers placed thereon. 
  

	20.	Holders’ Compliance with the Registration Rights Agreement. 

  
 Each Holder of a Note, by acceptance hereof, acknowledges and agrees to the provisions of the Registration Rights Agreement, including the obligations of
the Holders with respect to a registration and the indemnification of the Company to the extent provided therein. 
  

 6 

	21.	Governing Law. 

  
 THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 The Company shall furnish to any Holder upon written request and without
charge a copy of the Indenture. Requests may be made to LifeCare Holdings, Inc., 5560 Tennyson Parkway, Plano, Texas, 75024, Attention: General Counsel. 
  
 Capitalized terms used herein but not defined herein shall have the meanings given to such terms in the Indenture. 
  

 7 

 ASSIGNMENT FORM 
  

To assign this Note, fill in the form below: 
  

I or we assign and transfer this Note to 
  
 (Print or type assignee’s name, address and zip code) 
  
 (Insert assignee’s soc. sec. or tax I.D. No.) 
  
 and irrevocably appoint
                                 agent to transfer this Note on the books of the
Company. The agent may substitute another to act for him. 
  

	
	 

  

	Date:	                     Your Signature:
                                        
                                        
                                        
                                     

  

	
	 

  
 Sign exactly as your name appears on
the other side of this Note. 
  
 In connection with any transfer of any of the
Notes evidenced by this certificate occurring prior to the expiration of the period referred to in Rule 144(k) under the Securities Act after the later of the date of original issuance of such Notes and the last date, if any, on which such Notes
were owned by the Company or any Affiliate of the Company, the undersigned confirms that such Notes are being transferred in accordance with its terms: 
  
 CHECK ONE BOX BELOW 
  

	 ̈	to the Company; or 

  

					
	 (1)
	  	 ̈	  	pursuant to an effective registration statement under the Securities Act of 1933; or
			
	 (2)
	  	 ̈	  	inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a
qualified institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or
			
	 (3)
	  	 ̈	  	outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933; or

						
	 (4)
	  	 ̈	 	  	pursuant to the exemption from registration provided by Rule 144 under the Securities Act of 1933; or
			
	 (5)
	  	 ̈	 	  	to an institutional “accredited investor” (as defined in Rule 501(a)(1),(2),(3) or (7) under the Securities Act of 1933) that has furnished to the Trustee a signed letter containing
certain representations and agreements relating to the transfer of this Note (the form of which can be obtained from the Trustee) and, if such transfer is in respect of an aggregate principal amount of Notes less than $250,000, an opinion of counsel
acceptable to the Company that such transfer is in compliance with the Securities Act.

  
 Unless one of the
boxes is checked, the Trustee will refuse to register any of the Notes evidenced by this certificate in the name of any person other than the registered holder thereof; provided, however, that if box (4) is checked, the Trustee
shall be entitled to require, prior to registering any such transfer of the Notes, such legal opinions, certifications and other information as the Company has reasonably requested to confirm that such transfer is being made pursuant to an exemption
from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, such as the exemption provided by Rule 144 under such Act. 
  

					
			
	  	 	 	 	  
	 	 	 	 	 Signature

			
	 Signature Guarantee:
	 	 	 	 
			
	  	 	 	 	  
	 Signature must be guaranteed
	 	 	 	 Signature

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

 2 

 TO BE COMPLETED BY PURCHASER IF (2) ABOVE IS CHECKED. 
  
 The undersigned represents and warrants that it is purchasing this Note for
its own account or an account with respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, and is
aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information
and that it is aware that the transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

									
					
	 Dated:
	 	  	 	 	 	 	 	  
	 	 	 	 	 	 	 Notice:
	 	 To be executed by
 an executive officer

  

 3 

 [TO BE ATTACHED TO GLOBAL NOTES] 
  
 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 
  
 The following increases or decreases in this Global Note have been made: 
  

									
	 Date of
 Exchange

	  	 Amount of decrease in
 Principal amount of this
 Global Note

	  	 Amount of increase in
 Principal amount of this
 Global Note

	  	 Principal amount of this
 Global Note following
 such
 decrease or increase)

	  	 Signature of authorized
 officer of Trustee or
 Notes Custodian

	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 

  

 4 

 OPTION OF HOLDER TO ELECT PURCHASE 
  
 If you want to elect to have this Note purchased by the Company pursuant to Section 1017 or 1018 of the Indenture,
check the box:  ̈ 
  
  ̈ If you want to elect to have only part of this
Note purchased by the Company pursuant to Section 1017 or 1018 of the Indenture, state the amount in principal amount: $ 
  

											
				
	 Dated: _________________________________________________
	 	 	 	Your Signature:	 	 
	 	 	 	 	 	 	 	 	 	 	 (Sign exactly as your name appears
 on the other side
of this Note.)

	Signature Guarantee:	 	 
	(Signature must be guaranteed)

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

 5 

 EXHIBIT 2 
  

to Rule 144A / Regulation S / IAI Appendix 
  
 Form of 
 Transferee Letter of Representation

  
 LifeCare Holdings, Inc. 
 5560 Tennyson Parkway 
 Plano, Texas, 75024 
 In care of 
 [             ] 
 [             ] 
 [             ] 
  
 Ladies and Gentlemen: 
  
 This certificate is delivered
to request a transfer of $             principal amount of the 9 1/4% Senior Subordinated Notes Due 2013 (the “Notes”) of Rainier Acquisition Corp., a Delaware corporation (the “Company”). 
  
 Upon transfer, the Notes would be registered in the name of the new beneficial owner as follows: 
  
 Name: ______________________________ 
  
 Address: ____________________________ 
  
 Taxpayer ID Number: _________________ 
  
 The undersigned represents and warrants to you that: 
  
 1. We are an institutional “accredited investor” (as defined in
Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”)), purchasing for our own account or for the account of such an institutional “accredited investor” at least $250,000
principal amount of the Notes, and we are acquiring the Notes not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters
as to be capable of evaluating the merits and risks of our investment in the Notes, and we invest in or purchase securities similar to the Notes in the normal course of our business. We, and any accounts for which we are acting, are each able to
bear the economic risk of our or its investment. 
  
 2. We
understand that the Notes have not been registered under the Securities Act and, unless so registered, may not be sold except as permitted in the following sentence. We agree on our own behalf and on behalf of any investor account for which we are
purchasing Notes to offer, sell or otherwise transfer such Notes prior to the date that is two years after the later of the date of original issue and the last date on which the Company or any affiliate of the Company was the owner of such Notes (or
any predecessor thereto) (the “Resale Restriction 

 
Termination Date”) only (i) to the Company, (ii) in the United States to a person whom the seller reasonably believes is a qualified
institutional buyer in a transaction meeting the requirements of Rule 144A, (iii) to an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act that is an
institutional accredited investor purchasing for its own account or for the account of an institutional accredited investor, in each case in a minimum principal amount of the Notes of $250,000, (iv) outside the United States in a transaction
complying with the provisions of Rule 904 under the Securities Act, (v) pursuant to an exemption from registration under the Securities Act provided by Rule 144 (if available) or (vi) pursuant to an effective registration statement under
the Securities Act, in each of cases (i) through (vi) subject to any requirement of law that the disposition of our property or the property of such investor account or accounts be at all times within our or their control and in compliance
with any applicable state securities laws. The foregoing restrictions on resale shall not apply subsequent to the Resale Restriction Termination Date. If any resale or other transfer of the Notes is proposed to be made pursuant to clause
(iii) above prior to the Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to the Company and the Trustee, which shall provide, among other things, that the
transferee is an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring such Notes for investment purposes and not for distribution in violation
of the Securities Act. 
  
 Each purchaser acknowledges that the
Company and the Trustee reserve the right prior to the offer, sale or other transfer prior to the Resale Restriction Termination Date of the Notes pursuant to clause (iii), (iv) or (v) above to require the delivery of an opinion of
counsel, certifications or other information satisfactory to the Company and the Trustee. 
  

			
	TRANSFEREE: ______________________,
		
	by:	 	 

  

 2 

 EXHIBIT A 
  

[FORM OF FACE OF EXCHANGE NOTE 
 OR PRIVATE
EXCHANGE NOTE] */**/ 

	*/	[If the Note is to be issued in global form add the Global Notes Legend from Exhibit 1 to Appendix A and the attachment from such Exhibit 1 captioned “[TO BE ATTACHED TO GLOBAL
NOTES] SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE.” 

  

	**/	[If the Note is a Private Exchange Note issued in a Private Exchange to an Initial Purchaser holding an unsold portion of its initial allotment, add the Restricted Notes Legend from
Exhibit 1 to Appendix A and replace the Assignment Form included in this Exhibit A with the Assignment Form included in such Exhibit 1.] 

			
	 No.             
	  	$            

  
 9 1/4% Senior Subordinated Notes Due 2013 
  
 Rainier Acquisition Corp., a Delaware corporation, promises to pay to
                    , or registered assigns, the principal sum of
             Dollars on August 15, 2013. 
  
 Interest Payment Dates: February 15 and August 15. 
  
 Record Dates: February 1 and August 1. 
  
 Additional provisions of this Note are set forth on the other side of this Note. 
  
 Dated: 
  

			
	 RAINIER ACQUISITION CORP.

		
	 By
	 	 
	 	 	 Name:

	 	 	 Title:

		
	 By
	 	 
	 	 	 Name:

	 	 	 Title:

	 	 	 

  

					
	 TRUSTEE’S CERTIFICATE OF AUTHENTICATION

	
	 U.S. BANK NATIONAL ASSOCIATION

	 	 	 as Trustee, certifies that this is one of the Notes referred to in the Indenture.

			
	 	 	By	 	 
		
	 	 	 
	 	 	 Authorized Signatory

  

 2 

 [FORM OF REVERSE SIDE OF EXCHANGE NOTE 
 OR PRIVATE EXCHANGE NOTE] 
  
 9 1/4% Senior Subordinated Note Due 2013 
  

	1.	Principal and Interest. 

  
 The Company shall pay the principal of this Note on August 15, 2013. 
  
 The Company promises to pay interest and Special Interest, if any, on the principal amount of this Note on each Interest
Payment Date, as set forth below, at the rate of 9 1/4% per annum (subject to adjustment as provided below).

  
 Interest, and Special Interest, if any, shall be
payable semi-annually (to the Holders of record of the Notes (or any Predecessor Notes) at the close of business on February 1 or August 1 immediately preceding the Interest Payment Date) on each Interest Payment Date, commencing
[            ]. 
  
 The Holder of this Note is entitled to the benefits of the Exchange and Registration Rights Agreement, dated August 11, 2005, among the Company, the Guarantors and the Initial Purchasers named therein (the
“Registration Rights Agreement”). 
  
 Interest on this
Note shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from August 11, 2005; provided that, if there is no existing default in the payment of interest and if this Note is
authenticated between a Regular Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such Interest Payment Date. Interest shall be computed on the basis of a 360-day year of twelve
30-day months. 
  
 The Company shall pay interest and Special
Interest if any, on overdue principal and premium, if any, and interest on overdue installments of interest, to the extent lawful, at a rate per annum equal to the rate of interest applicable to the Notes. 
  

	2.	Method of Payment. 

  
 The Company shall pay interest (except Defaulted Interest) on the principal amount of the Notes on each February 15 and August 15 to the Persons
who are Holders (as reflected in the Note Register at the close of business on February 1 and August 1 immediately preceding the Interest Payment Date), in each case, even if the Note is cancelled on registration of transfer or
registration of exchange after such Regular Record Date; provided that, with respect to the payment of principal, the Company shall make payment to the Holder that surrenders this Note to any Paying Agent on or after August 15, 2013.

  
 The Company shall pay principal (premium, if any) and interest
in money of the United States that at the time of payment is legal tender for payment of public and private debts. However, the Company may pay principal (premium, if any) and interest by its check payable in such money. The Company may pay interest
on the Notes either (a) by mailing a check for such interest to a Holder’s registered address (as reflected in the Note Register) or (b) by wire transfer 

  

 3 

 
to an account located in the United States maintained by the payee. 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. 
  

	3.	Paying Agent and Note Registrar. 

  
 Initially, U.S. Bank National Association, a New York banking corporation (the “Trustee”) shall act as Paying Agent and Note Registrar. The
Company may change any Paying Agent or Note Registrar upon written notice thereto. The Company, any Subsidiary or any Affiliate of any of them may act as Paying Agent, Note Registrar or co-registrar. 
  

	4.	Indenture. 

  
 The Company issued the Notes under an Indenture dated as of August 11, 2005 (the “Indenture”), among the Company and the Trustee.
Capitalized terms herein are used as defined in the Indenture unless otherwise indicated. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act. The Notes are
subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act 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 Note and the
terms of the Indenture, the terms of the Indenture shall control. 
  
 The Notes are unsecured senior obligations of the Company. The Indenture does not limit the aggregate principal amount of the Notes. 
  

	5.	Redemption. 

  
 Optional Redemption. At any time prior to August 15, 2009, the Company may redeem all or a part of the Notes, upon not less than 30 nor more
than 60 days’ prior notice mailed by first-class mail to each Holder’s registered address, at a redemption price equal to 100% of the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest and
Special Interest, if any, to the Redemption Date, subject to the rights of Holders on the relevant record date to receive interest due on the relevant Interest Payment Date. 
  
 On and after August 15, 2009, the Company may redeem the Notes, in whole or in part, upon not less than 30 nor more
than 60 days’ prior notice by first class mail, postage prepaid, with a copy to the Trustee, to each Holder to the address of such Holder appearing in the Note Register at the Redemption Prices (expressed as percentages of principal amount) set
forth below, plus accrued and unpaid interest thereon and Special Interest, if any, to the applicable 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, if redeemed during the twelve-month period beginning on August 15 of each of the years indicated below: 
  

				
	 Year

	  	Percentage

	 
	 2009
	  	104.625	%
	 2010
	  	102.313	%
	 2011 and thereafter
	  	100.000	%

  

 4 

 In addition, prior to August 15, 2008, the Company may, at its option, redeem up to 35% of the
aggregate principal amount of Notes issued under the Indenture (including any Additional Notes) at a redemption price equal to 109.25% of the aggregate principal amount thereof, plus accrued and unpaid interest thereon and Special Interest, if any,
to the applicable 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, with the net cash proceeds of one or more Equity Offerings of the Company or any
direct or indirect parent of the Company to the extent such net cash proceeds are contributed to the Company; provided that at least 65% of the sum of the aggregate principal amount of Notes originally issued under the Indenture remains
outstanding immediately after the occurrence of each such redemption; provided further that each such redemption occurs within 90 days of the date of closing of each such Equity Offering. 
  

	6.	Repurchase upon a Change of Control and Asset Sales. 

  
 Upon the occurrence of (a) a Change of Control, the Holders of the Notes shall have the right to require that the Company purchase such Holder’s
Outstanding Notes, in whole or in part, at a purchase price of 101% of the principal amount thereof, plus accrued and unpaid interest and Special Interest, if any, to the date of purchase and (b) Asset Sales, the Company may be obligated to
make offers to purchase Notes and pari passu Indebtedness with a portion of the Net Proceeds of such Asset Sales at a redemption price of 100% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase.

  

	7.	Denominations; Transfer; Exchange. 

  
 The Notes are in registered form without coupons in denominations of $1,000 principal amount and whole multiples of $1,000. A Holder may transfer or
exchange Notes in accordance with the Indenture. The Note Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The
Note Registrar need not register the transfer or exchange of any Notes selected for redemption (except, in the case of a Note to be redeemed in part, the portion of the Note not to be redeemed) or any Notes for a period of 15 days before a selection
of Notes to be redeemed or 15 days before an Interest Payment Date. 
  

	8.	Persons Deemed Owners. 

  
 A registered Holder may be treated as the owner of a Note for all purposes. 
  

	9.	Unclaimed Money. 

  
 If money for the payment of principal (premium, if any) or interest remains unclaimed for two years, the Trustee and the Paying Agent shall pay the money
back to the Company at its written 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. 
  

 5 

	10.	Discharge and Defeasance Prior to Redemption or Maturity. 

  
 If the Company irrevocably deposits, or causes to be deposited, with the Trustee money or Government Securities sufficient to pay the then outstanding
principal of (premium, if any) and accrued interest on the Notes (a) to Redemption or Maturity Date, the Company shall be discharged from its obligations under the Indenture and the Notes, except in certain circumstances for certain covenants
thereof, and (b) to the Stated Maturity, the Company shall be discharged from certain covenants set forth in the Indenture. 
  

	11.	Amendment; Supplement; Waiver. 

  
 Subject to certain exceptions, the Indenture or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in
aggregate principal amount of the Outstanding Notes, and any existing Default or compliance with any provision may be waived with the consent of the Holders of a majority in aggregate principal amount of the Outstanding Notes. Without notice to or
the consent of any Holder, the parties thereto may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or inconsistency and make any change that does not adversely affect the rights of any Holder.

  

	12.	Restrictive Covenants. 

  
 The Indenture contains certain covenants, including covenants with respect to the following matters: (i) Restricted Payments; (ii) incurrence of
Indebtedness and issuance of Disqualified Stock; (iii) Liens; (iv) transactions with Affiliates; (v) dividend and other payment restrictions affecting Restricted Subsidiaries; (vi) guarantees of Indebtedness by Restricted
Subsidiaries; (vii) merger and certain transfers of assets; (viii) purchase of Notes upon a Change in Control; (x) disposition of proceeds of Asset Sales and (xi) senior subordinated debt. Within 120 days (or the successor time
period then in effect under the rules and regulations of the Exchange Act) after the end of each fiscal year, the Company must report to the Trustee on compliance with such limitations. 
  

	13.	Successor Persons. 

  
 When a successor Person or other entity assumes all the obligations of its predecessor under the Notes and the Indenture, the predecessor Person shall be
released from those obligations. 
  

	14.	Remedies for Events of Default. 

  
 If an Event of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 30% in principal amount of the
Outstanding Notes may declare all the Notes to be immediately due and payable. If a bankruptcy or insolvency default with respect to the Company or any of its Significant Subsidiaries occurs and is continuing, the Notes automatically become
immediately due and payable. Subject to the provisions of the Indenture relating to the duties of the Trustee, in case an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any rights or powers under the
Indenture at the request or direction of any of the Holders of the Notes unless such Holders have offered to the 

  

 6 

 
Trustee reasonable indemnity or security against any loss, liability or expense. Subject to certain restrictions, the Holders of a majority in principal
amount of the Outstanding Notes are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may
refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder of a Note or that would involve the Trustee in personal liability. 
  

	15.	Guarantees. 

  
 The Company’s obligations under the Notes are fully, irrevocably and unconditionally guaranteed on an unsecured senior subordinated basis, to the
extent set forth in the Indenture, by each of the Guarantors. 
  

	16.	Trustee Dealings with Company. 

  
 The Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may make loans to, accept deposits
from, perform services for, and otherwise deal with, the Company and its Affiliates as if it were not the Trustee. 
  

	17.	Authentication. 

  
 This Note shall not be valid until the Trustee signs the certificate of authentication on the other side of this Note. 
  

	18.	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). 
  

	19.	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 Notes and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of
redemption and reliance may be placed only on the other identification numbers placed thereon. 
  

	20.	Holders’ Compliance with the Registration Rights Agreement. 

  
 Each Holder of a Note, by acceptance hereof, acknowledges and agrees to the provisions of the Registration Rights Agreement, including the obligations of
the Holders with respect to a registration and the indemnification of the Company to the extent provided therein. 
  

 7 

	21.	Governing Law. 

  
 THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 The Company shall furnish to any Holder upon written request and without
charge a copy of the Indenture. Requests may be made to LifeCare Holdings, Inc., 5560 Tennyson Parkway, Plano, Texas, 75024, Attention: General Counsel. 
  
 Capitalized terms used herein but not defined herein shall have the meanings given to such terms in the Indenture. 
  

 8 

 ASSIGNMENT FORM 
  

To assign this Note, fill in the form below: 
  
 I or we assign and transfer this Note to 
  
 (Print or type assignee’s name, address and zip code) 
  
 (Insert assignee’s soc. sec. or tax I.D. No.) 
  
 and irrevocably appoint                      agent to transfer
this Note on the books of the Company. The agent may substitute another to act for him. 
  

							
	 Date:
	  	 	  	Your Signature:	  	 
	
	 

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

 OPTION OF HOLDER TO ELECT PURCHASE 
  
 If you want to elect to have this Note purchased by the Company pursuant to Section 1017 or 1018 of the Indenture,
check the box:  ̈ 
  
  ̈ If you want to elect to have only part of this
Note purchased by the Company pursuant to Section 1017 or 1018 of the Indenture, state the amount in principal amount: $ 
  

									
					
	 Dated:
	 	 	 	 	 	Your Signature:	 	 
	 	 	 	 	 	 	 	 	(Sign exactly as your name appears on the other side of this Note.)

  

			
	 Signature Guarantee:
	  	 
	 	  	(Signature must be guaranteed)

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

 2

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