Document:

EX-10.1

   

   

  August 31, 2022

   

  Generation Income Properties, Inc.

  Attention: David Sobelman

  401 E. Jackson Street, Suite 3300

  Tampa, Florida 33602

   

  RE:	COMMITMENT FOR $25,000,000.00 MASTER CREDIT FACILITY 

  Dear Mr. Sobelman:

   

  American Momentum Bank (hereinafter referred to as “Bank”) is pleased to offer its commitment to make a master credit facility available to Generation Income Properties, L.P., a Delaware limited partnership (“GIP”) in the amount of $25,000,000.00 (the “Facility”), subject to the terms and conditions herein.  The Facility shall be utilized to fund the acquisition of income producing real estate properties (each a “Loan” and collectively the “Loans”).  

  This letter does not set forth all the terms and conditions of the Facility offered herein.  Rather, it is only an outline, in summary format, of the major points of understanding which shall be the basis of the final loan documentation (all of which are collectively referred to as the “Loan Documents”), most of which are described below.  The date upon which each Loan is consummated and the last of the Loan Documents for each Loan is executed and delivered is hereinafter referred to as a “Closing Date.”  The Loan Documents will have various terms and conditions not set forth herein, including but not limited to conditions precedent, representations and warranties, affirmative covenants, negative covenants, events of default, definition of terms, and other provisions customary to financing (1) by Bank generally and (2) of the type contemplated by this letter.

  Purpose.  Proceeds of the Facility shall be used to fund the acquisition of income producing real estate properties (each a “Property” and collectively, the “Properties”).  Each Property will be owned or ground leased by a single purpose entity, formed by GIP for the sole purpose of taking title to the Property and entering into the Loan with Bank (each a “Borrower” and collectively, the “Borrowers”).  Each Borrower shall be a subsidiary of, and controlled by, the Entity Guarantor (as defined herein).  Entity Guarantor, by its joinder of this Letter, hereby certifies that all Loan proceeds will be used by each respective Borrower for private commercial purposes, as described herein.

  Facility Term.  All Loans under the Facility shall be closed prior to December 28, 2023.

  Interest Rate. Interest on each Loan shall accrue at a variable rate equal to the 30-Day CME Term SOFR Rate, plus a margin of 2.40% (the “Applicable Rate”), adjusted monthly; provided, however, each Loan will include an interest rate floor of 3.25% per annum. All interest will be computed and charged for the actual number of days elapsed on the basis of a year consisting of three hundred sixty (360) days.  Interest on all past due amounts or during the occurrence of an event of default under the Loan shall accrue at the maximum rate permitted by law. The term “30-Day Term SOFR Rate” shall mean the forward-looking SOFR rate administered by CME Group, Inc. (or other successor administrator) and published on the applicable Bloomberg LP screen page (or such other commercially available source providing such quotations as may be selected by Bank) relating to quotations for one month, fixed by the administrator two business days prior to such date of determination (provided, however, that if the Term SOFR rate is not published for such business day, then the Term SOFR rate shall be determined by reference to the 

  

   

   

  immediately preceding business day on which such rate is published), rounded upwards, if necessary, to the next 1/8th of 1%, all as determined by Bank.

  Fees/Costs. At each Loan closing, the applicable Borrower shall make payment of a commitment fee equal to 0.50% of the applicable Loan amount.  In addition, the applicable Borrower shall pay all legal fees, recording fees, excise taxes, title insurance premiums, appraisal fees, and other costs incurred by Bank in connection with the making, documenting and closing of each Loan.

  Repayment Terms. Each Loan will have an interest-only payment term of twenty-four (24) months from the applicable Loan Closing Date, based upon the Applicable Rate.  For each Loan, outstanding principal and accrued outstanding interest shall be due and payable in full on the date that is two (2) years from the applicable Closing Date.

  Prepayment Premium.  None

  Collateral. To secure payment of each Loan, each Borrower shall grant, pledge, or convey to Bank the following collateral customary for the type of loan, including but not limited to the following:  

  1.A first priority mortgage and security interest (or deed of trust, as applicable) on the applicable Property.

  2.A first priority assignment of leases, rents and profits with respect to the applicable Property. 

  3.A first priority assignment of all contracts, agreements, plans, specifications, deposits, rights, profits, operating accounts and related agreements for the applicable Property.

  4.A collateral assignment and subordination of any applicable management agreement for each Property.

  Guarantees. Each Loan shall be guaranteed by GIP (in such capacity, the “Entity Guarantor”) and David Sobelman (the “Individual Guarantor” and together with the Entity Guarantor, collectively the “Guarantors”).  The guaranty provided by the Entity Guarantor shall be unlimited.  The guaranty provided by the Individual Guarantor shall be non-recourse, subject to customary bad-boy carve-outs, to be negotiated during the closing of the initial Loan under the Facility.

  Deposit Account(s).  Each Borrower agrees to establish and maintain its primary operating account(s) with Bank as long as any part of the applicable Loan remains outstanding.

  Conditions Precedent to each Loan.  For each Loan, the following conditions precedent must be satisfied by the applicable Borrower prior to the respective Closing Date:

  (a)Bank must obtain a “Phase I” environmental assessment of each Property, ordered by each Borrower at such Borrower’s expense from an environmental engineering company acceptable to Bank, assessing the environmental condition of the applicable Property.  Bank shall have the right to require additional environmental investigations, including a “Phase II” environmental assessment, which additional work shall constitute a part of the environmental assessment.  Bank shall have the right to withdraw its commitment to fund any applicable Loan in the event that the environmental assessment discloses significant environmental concerns associated with a certain Property, as determined by Bank in its sole discretion.  

  (b)Bank shall have received and approved a certified appraisal (the “Appraisal”) obtained by Bank and paid for by each Borrower with respect to each Property, demonstrating a “loan to 

  

   

   

  value” ratio of not greater than fifty percent (50%) and a “loan to cost” ratio of not greater than fifty percent (50%).

  (c)Each Borrower shall deliver to Bank for its review and approval, a commitment (the “Title Commitment”) for each Property from a title company (the “Title Company”) acceptable to Bank agreeing to provide to Bank a title insurance policy in form acceptable to Bank in the amount of each Loan, and any additional required title endorsements. Each Borrower shall be responsible for all costs incurred in obtaining each Title Commitment, policy, and any required title endorsements.  

  (d)Each Borrower shall, at Borrower’s sole cost and expense, deliver to Bank for its review and approval, a current survey for each Property which complies with Bank’s survey requirements.

  (e)Each Borrower shall deliver to Bank for its review and approval, a lease for each Property (each a “Lease” and collectively the “Leases”).  Each Lease shall have a minimum remaining initial term of five (5) years after the applicable Closing Date.  To be an acceptable Lease, the tenant must be an Acceptable Tenant.  For purposes of each Loan, an “Acceptable Tenant” shall mean a tenant that has an Investment Grade Rating of BBB- or better if rated by Standard & Poor’s or Baa3, or better if rated by Moody’s.  In the event the proposed tenant is not deemed an Acceptable Tenant, then the tenant must (i) evidence a minimum of $100,000,000.00 in Tangible Net Worth; (ii) evidence a Maximum Debt to Equity of 3.0; and (iii) such tenant shall be subject to approval from the Bank’s Chief Credit Officer and Chief Lending Officer (each in their sole discretion).  Further, at any given time during the term of the Facility, the maximum amount of Loans outstanding for Properties with Leases to tenants that are not an Acceptable Tenant shall be limited to $5,000,000.00. 

  (f)For each Lease, the applicable Borrower shall deliver to Bank a current estoppel certificate and a subordination, non-disturbance and attornment agreement, each in form deemed acceptable to Bank.

  (g)Bank shall have received copies of acceptable current financial statements and tax returns of each Borrower and all Guarantors.  GIP and Guarantors acknowledge that Bank has relied upon such financial statements in issuing this Letter and closing each Loan pursuant thereto, and all matters set forth in the financial statements are true and correct and all liabilities and contingent liabilities have been fully disclosed.  Any misrepresentation in the financial statements, which Bank has relied upon in closing any Loan, may constitute a chargeable offense. It shall be a condition of each closing that there shall be no material adverse change in the financial condition of the applicable Borrower or the Guarantors.

  (h)Each Borrower and the Entity Guarantor shall furnish a true and complete copy of its Articles of Organization, Operating Agreement (or Partnership Agreement, as applicable) and evidence of proper authorization of the Loan and Guarantee.  Further, and if required by the Bank, each Borrower shall provide such information for any manager of a Borrower or any direct or indirect member of a Borrower or Entity Guarantor, so as to confirm authority for entering into the subject Loan.

  (i)Each Borrower shall obtain and deliver: (i) insurance against loss or damage by fire and other casualties and hazards by insurance written on an “all risks” basis, including malicious mischief coverage, in an amount not less than the replacement cost thereof, including coverage for loss of rents, naming Bank as loss payee and mortgagee; (ii) if any Property is required to be insured pursuant to the National Flood Reform Act of 1994, and the regulations promulgated thereunder, flood insurance is required in the amount equal to the lesser of the loan amount or maximum available under the National Flood Insurance Program but in no event should the 

  

   

   

  amount of coverage be less than the value of the improved structure, naming Bank as mortgagee and loss payee; (iii) as applicable, insurance which complies with the workers’ compensation and employers’ liability laws of all states in which each Borrower shall be required to maintain such insurance; (iv) liability insurance providing coverage in such amount as Bank may require but in no event less than $2,000,000.00 per occurrence and $4,000,000.00 general aggregate, naming Bank as an additional insured; and (v) such other insurance as Bank may reasonably require from time to time.

  Each insurance policy shall include a provision that such policy will not be cancelled, altered or in any way limited in coverage or reduced in amount unless Bank is notified in writing at least thirty (30) days prior to such cancellation or change.  Each insurance policy will be written on such forms as are reasonably acceptable to Bank by insurance companies authorized or licensed to do business in the state in which the Property is located having financial size and rating acceptable to Bank.

  (j)Bank shall have received such other searches, documents, instruments and certificates including, without limitation, customary attorney opinion letters and other assurances, as Bank or Bank’s counsel may reasonably require.

  General Covenants.  In addition to other affirmative and negative covenants as are typically required by Bank for this type of Facility and the Loan, the Loan Documents will contain the following additional covenants:

  (a)Debt Service Coverage Ratio.  Through the term of each Loan, each Borrower shall maintain a Debt Service Coverage Ratio (as defined herein) of not less than 1.50 to 1.00.  For the purposes hereof, the term “Debt Service Coverage Ratio” shall mean the net operating income of the Property, less a 3% management fee and 2% replacement reserve, divided by the maximum amount of principal to be borrowed under the applicable Loan, amortized over 25 years using the then-current Wall Street Journal Prime Rate.  

  (b)Transfer or Conveyance.  Each Borrower shall not be permitted to, voluntarily or by operation of law, sell, convey, transfer or permit to be sold, conveyed or transferred, any interest in or any part of any Property, nor shall a voluntary sale, pledge or other transfer of any direct interest in Borrower without the prior written consent of Bank having been first obtained; provided, however, in the event a joint venture structure is used, the Borrower shall be permitted to redeem such joint venture partner pursuant to the terms of the Borrower’s governing documents without Bank’s prior written consent, so long as GIP maintains control of such Borrower entity after such redemption.  Bank acknowledges that GIP has independent investors which GIP does not control, and, accordingly, the parties agree that any transfer restrictions in the Loan Documents shall not in any way prohibit or restrict transfers by such interest holders of GIP, so long as any such transfers shall not cause for a change in control of GIP.

  (c)No Further Debt Or Encumbrances.  Each Borrower shall not be permitted to incur any additional debt, other than trade accounts payable incurred in the ordinary course of business or the recapitalization of the Borrower’s equity in the mortgaged Property, and each Borrower shall not further encumber the applicable Property in any way including, but not limited to, acquiring any secondary liens thereon without the prior written approval of Bank.   

  (d)Guarantee.  Each Borrower shall not guarantee or otherwise become responsible for obligations of any other person, corporation, or entity excepting for the endorsement of negotiable instruments by such Borrower or any subsidiary, if any, in the ordinary course of business for collection.

  

   

   

  Financial Information.  During the term of the Loan, each Borrower and Guarantors shall provide Bank, in form and content acceptable to Bank, the following financial information:

  (a) Annual Statements.  Deliver to Bank within one hundred twenty (120) days after the end of each calendar year, a CPA prepared and audited financial statement including a consolidated balance sheet and a consolidated statement of income (loss) and surplus (deficit) and a statement of cash flows, together with supporting schedules, all in reasonable detail and prepared in conformity with generally accepted accounting principles, applied on a basis consistent with that of the preceding year, showing the financial condition of GIP at the close of such year.  

   

  (b) Quarterly Statements.  Deliver to Bank within ninety (90) days after each quarter-end, a company-prepared financial statement including a consolidated balance sheet and a consolidated statement of income (loss) and surplus (deficit) and a statement of cash flows, together with supporting schedules, all in reasonable detail and prepared in conformity with generally accepted accounting principles, applied on a basis consistent with that of the preceding quarter, showing the financial condition of each Borrower and their respective subsidiaries, if any, at the close of each such quarter.  

   

  (c) Updated Financial Statements.  Cause to be delivered to Bank on an annual basis within twelve (12) months of the date of the financial statement then on file with Bank, updated financial statements signed and certified to Bank for each Borrower and each Guarantor of each Loan, disclosing all of the assets and liabilities, income and contingent liabilities of each Borrower and each Guarantor, in form and substance reasonably satisfactory to Bank.

   

  (d) Tax Returns.  Within thirty (30) days of filing, deliver to Bank complete copies of the Federal Tax Returns for each Borrower and each Guarantor for each year or, in the event they file extensions, a copy of the extension (and in the event they file an extension, complete copies of the Federal Tax Returns will be due within thirty (30) days after filing thereof).

   

  (e) SEC Filings.  For GIP, each Guarantor and each Borrower, to the extent any documents or filings are required to be filed with the SEC, copies shall be simultaneously provided to Bank upon filing.

   

  (f) Other Financial Information.  Each Borrower and the Guarantors shall deliver, promptly, such other information regarding the operation, business affairs, and financial condition of the Guarantors and such Borrower or any of its subsidiaries, if any, which the Bank may reasonably request.

   

  Loan Documents.  Bank’s attorney shall prepare the necessary documentation in order to comply with all the terms and conditions of this Letter.  All documentation must be satisfactory to Bank in Bank’s discretion.  

  Non-Assignability or Modification of Commitment.  The commitment evidenced by this Letter shall not be assignable by GIP.  The terms of this Letter may not be waived or modified unless such waiver or modification is expressly stated as such and specifically agreed to by the parties in writing and shall be enforceable by Bank and its successors and assigns.  The Loan Documents when executed shall evidence the final commitment to each Borrower, and upon said execution, this letter shall have no further force or effect as to the closed Loan.

  Confidentiality.  GIP shall keep the contents of this Letter confidential and shall not use it or its contents as a representation of GIP’s credit worthiness.  Third parties are cautioned against relying on the contents hereof in extending credit to GIP.

  

   

   

  Basis of Commitment. The undersigned acknowledge that this Letter is based materially upon financial information provided to it by GIP and others, and the undersigned hereby warrant and represent that such information was true and correct in all material respects when rendered and that no material change has occurred therein through the date of the execution of this commitment.  All material facts relating to the Facility or to the assets, business, profits, prospects, or conditions (financial or otherwise) of GIP have been disclosed to Bank by GIP and the Guarantors.

  Voidability of Commitment. This Commitment shall be voidable at the option of Bank should any of the following events occur:

  1.A material adverse change in GIP, any Borrower’s, or any Guarantor’s business, or financial condition, or disposal of a material portion of its assets other than in the ordinary course of business.

  2.A proceeding is commenced by or against GIP, any Borrower or any Guarantor under any bankruptcy or insolvency law.

   

  3.A default by GIP, any Borrower or any Guarantor on any other obligation they may have for money borrowed from Bank.

   

  4.Any change in management or ownership of GIP or any Borrower unacceptable to Bank.

   

  5.Should any law or regulation affecting Bank entering into the financing transactions contemplated hereby impose upon Bank any potential obligation, fee, liability, loss, claim, cost, expense, or damage which is not contemplated herein.

   

  6.Any violation or breach by GIP or any Borrower or Guarantor of the terms of this Letter.

  7.Should GIP fail to provide sufficient information to the Bank to permit verification of the identity of each Borrower in accordance with the USA Patriot Act.

  Acceptance and Closing Date. This Letter shall expire if not accepted or extended in writing by the close of business on September 9, 2022 (the “Commitment Expiration Date”).  GIP acknowledges that the interest rate and other terms of the Facility outlined in this Letter are based upon acceptance of this Letter and closing of the initial Loan within the time periods set forth above and that these time periods are material factors in Bank offering this Letter.  Borrower shall retain the obligation, if the Letter has been accepted, to pay any fees or expenses incurred by Bank in connection with the negotiation and preparation of this Letter, including without limitation appraisal fees, attorney’s fees, flood hazard report costs, UCC search and filing fees, environmental report costs, and title commitment costs. 

  Prior Letters.  Pursuant to a commitment letter dated October 25, 2021 (the “Existing Commitment Letter”), the Bank extended, to GIP, a commitment for an existing facility, along in the amount of $25,000,000.00 (the “Existing $25,000,000 Facility”).  GIP, Guarantors and Bank acknowledge and agree that, upon mutual execution of this commitment letter, this letter and the Facility (as defined herein) shall serve to supercede, in its entirety, the Existing Commitment Letter, and any funding to GIP, after the date of this effective date of this letter, shall be funded accordingly to the terms and conditions of this letter.  Further, pursuant to a commitment letter dated May 9, 2022 (the “May 2022 Commitment Letter”), the Bank extended to GIP, a commitment for an increased facility, in the amount of $50,000,000.00 (the “Proposed $50,000,000 Facility”).  Funding under the Proposed $50,000,000.00 Facility is expressly conditioned upon satisfaction of the terms and conditions in the May 2022 Commitment Letter, including but not limited to satisfaction of the 2022 Minimum Capital Raise Requirement (as such term is defined in the May 2022 Commitment Letter).  Until satisfaction of the 2022 Minimum Capital Raise Requirement, and any other terms and conditions of the May 2022 Commitment Letter, funding to GIP shall be governed by the terms of this letter.  

  

   

   

  If this letter is acceptable to you, please indicate your acceptance by signing in the space provided below and returning the original letter to me.  

  We appreciate the opportunity to offer this letter to your company and look forward to establishing a continuing, mutually beneficial relationship.

   [signature page follows]

   

  

   

   

  We are pleased to have the opportunity to assist you with this Facility.  If you have any questions regarding these terms, please call me at on my direct line at (813) 549-4725.

  Sincerely,

   

  AMERICAN MOMENTUM BANK

   

   

  By: /s/ Porter Smith

  Porter Smith

  Tampa Bay Market President

   

  Agreed to and accepted this 12 day of September, 2022.

   

   

  GIP:

   

  GENERATION INCOME PROPETIES, L.P., a Delaware limited partnership 

   

  By: GENERATION INCOME PROPERTIES, INC., a Maryland corporation, as its General Partner

   

   

  By:/s/David Sobelman

  David Sobelman, as President

  	Agreed to and accepted this 9 day of September, 2022

   

  							Guarantors:

   

  GENERATION INCOME PROPERTIES, INC., 	a Maryland corporation

   

  By:/s/ David Sobelman

  David Sobelman, as President

  	Agreed to and accepted this 9 day of 	September, 2022

   

  /s/ David Sobelman

  DAVID SOBELMAN

  17285744v2Agreed to and accepted this 9 day of 	September, 2022

  17285744v2Agreed to and accepted this 9 day of 	September, 2022EX-4.2

 Exhibit 4.2 

THIS NINTH SUPPLEMENTAL INDENTURE (“Ninth Supplemental Indenture”) is dated as of September 14, 2022, among Johnson
Controls International plc, a public company limited by shares, incorporated under the laws of Ireland (the “Company”), Tyco Fire & Security Finance S.C.A., a corporate partnership limited by shares
(société en commandite par actions) incorporated and organized under the laws of the Grand Duchy of Luxembourg (the “Co-Issuer” and, together with the Company, the
“Issuers”), and U.S. Bank Trust Company, National Association, a national banking association (successor in interest to U.S. Bank National Association), as trustee (the “Trustee”). 

RECITALS 
 A. The Company and the Trustee
executed and delivered an Indenture, dated as of December 28, 2016 (the “Base Indenture” and together with this Ninth Supplemental Indenture, the “Indenture”), to provide for the issuance by the Company from
time to time of debt securities evidencing its indebtedness. 
 B. The Company and the Co-Issuer desire that the Co-Issuer co-issue the Offered Securities (as defined herein). 
 C. Pursuant to
resolutions of the Board of Directors of the Company and the board of managers of Tyco Fire & Security Finance S.à r.l., the general partner and manager of the Co-Issuer, the Company and the Co-Issuer have each authorized the issuance of the Offered Securities. 
 D. The entry into this Ninth Supplemental
Indenture by the parties hereto is in all respects authorized by the provisions of the Base Indenture. 
 E. The Company and the Co-Issuer desire to enter into this Ninth Supplemental Indenture pursuant to Sections 9.01 and 2.02 of the Base Indenture to establish the terms of the Offered Securities, to add the Co-Issuer as co-issuer of the Offered Securities and to establish the form of the Offered Securities. 

F. All things necessary to make this Ninth Supplemental Indenture a valid indenture and agreement according to its terms have been done. 

NOW, THEREFORE, for and in consideration of the foregoing premises, the Issuers and the Trustee mutually covenant and agree for the equal and proportionate
benefit of the respective Holders from time to time of the Offered Securities as follows: 
 ARTICLE I. 

Section 1.01 Definitions of Terms. 

(a) Capitalized terms used but not defined in this Ninth Supplemental Indenture shall have the meanings ascribed thereto in the Base
Indenture. 
 (b) As used herein, the following terms shall have the following meanings with respect to the Offered Securities only: 

“Adjusted Redemption Treasury Rate” means, with respect to any redemption date for the Offered Securities, the rate equal to
the semiannual equivalent yield to maturity or interpolated (on a 30/360 day count basis) yield to maturity of the Comparable Redemption Treasury Issue, assuming a price for the Comparable Redemption Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Redemption Treasury Price for such redemption date. 
 “Authentication Order”
means a written order signed in the name of each of the Issuers by an Officer of each of the Issuers and delivered to the Trustee or Authenticating Agent, or, with respect to Sections 2.04, 2.05, 2.06, 2.07, and 9.04 of the Base Indenture, any other
employee of such Issuer named in an Officer’s Certificate delivered to the Trustee. 
  

 “Change of Control Triggering Event” means the Offered Securities cease to
be rated Investment Grade by each of the Rating Agencies on any date during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement by the Issuers of any Change of Control (or pending Change of
Control) and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as any of the Rating Agencies has publicly announced that it is considering
a possible ratings downgrade or withdrawal). However, a Change of Control Triggering Event otherwise arising by virtue of a particular reduction in, or withdrawal of, rating shall not be deemed to have occurred in respect of a particular Change of
Control (and thus shall not be deemed a Change of Control Triggering Event for purposes of the definition of Change of Control Triggering Event) if the Rating Agencies making the reduction in, or withdrawal of, rating to which this definition would
otherwise apply do not announce or publicly confirm or inform the Trustee in writing at the Issuers’ request that the reduction or withdrawal was the result, in whole or in part, of any event or circumstance comprised of or arising as a result
of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Change of Control Triggering Event). If a Rating Agency is not providing a rating for the Offered
Securities at the commencement of any Trigger Period, the Offered Securities will be deemed to have ceased to be rated Investment Grade by such Rating Agency during that Trigger Period. 

Notwithstanding the foregoing, no Change of Control Triggering Event will be deemed to have occurred in connection with any particular Change
of Control unless and until such Change of Control has actually been consummated. 

“Co-Issuer” means Tyco Fire & Security Finance S.C.A., until a successor
entity shall have become such pursuant to Section 10.01 and Section 10.02 hereto. 
 “Comparable Redemption Treasury
Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the Offered Securities to be redeemed if the Offered Securities matured on the Par Call Date that
would be utilized at the time of selection and in accordance with customary financial practice in pricing new issues of corporate debt securities of comparable maturity to such remaining term of the Offered Securities. 

“Comparable Redemption Treasury Price,” with respect to any redemption date for the Offered Securities, means (i) the
average of the Redemption Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Redemption Reference Treasury Dealer Quotations (unless there is more than one highest or lowest quotation, in which
case only one such highest and/or lowest quotation shall be excluded), or (ii) if the Quotation Agent obtains fewer than four such Redemption Reference Treasury Dealer Quotations, the average of all such Redemption Reference Treasury Dealer
Quotations. 
 “Global Security” means an Offered Security executed by the Issuers and delivered by the Trustee to the
Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of the Depositary or its nominee. 

“Independent Investment Banker” means one of the Redemption Reference Treasury Dealers appointed by the Company. 

“Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating category of
Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P), and the equivalent investment grade credit rating from any replacement rating agency
or rating agencies selected by the Issuers under the circumstances permitting the Issuers to select a replacement rating agency and in the manner for selecting a replacement rating agency, in each case as set forth in the definition of “Rating
Agency.” 
 “Offered Securities” means the $400,000,000 4.900% Senior Notes due 2032 issued pursuant to this Ninth
Supplemental Indenture. 

  
 2 

 “Officer” means any manager, director, any managing director, the chairman
or any vice chairman of the Board of Directors or a board of managers, as applicable, the chief executive officer, the president, the chief financial officer, any vice president, the treasurer, any assistant treasurer, the secretary or any assistant
secretary, or any equivalent of the foregoing, of the Company or the Co-Issuer, as applicable, or any Person duly authorized to act for or on behalf of the Company or the
Co-Issuer, as applicable. 
 “Officer’s Certificate” means a certificate,
signed by any Officer of the Company and/or the Co-Issuer, as the case may be, that is delivered to the Trustee in accordance with the Indenture. Each such certificate shall include the statements
provided for in Section 13.06 of the Base Indenture, if and to the extent required by the provisions thereof. 
 “Opinion of
Counsel” means a written opinion acceptable to the Trustee from legal counsel licensed in any State of the United States of America and applying the laws of such State. The counsel may be an employee of or counsel to either
Issuer. Each such opinion shall include the statements provided for in Section 13.06 of the Base Indenture, if and to the extent required by the provisions thereof. 

“Quotation Agent” means a Redemption Reference Treasury Dealer appointed as such by the Company. 

“Rating Agency” means each of Moody’s and S&P; provided that, if any of Moody’s or S&P ceases to provide
rating services to issuers or investors, the Issuers may appoint another “nationally recognized statistical rating organization” as defined under Section 3(a)(62) of the Exchange Act as a replacement for such Rating Agency; provided,
further, that the Issuers shall give notice of such appointment to the Trustee. 
 “Redemption Reference Treasury Dealer”
means (1) each of J.P. Morgan Securities LLC, BofA Securities, Inc. and Morgan Stanley & Co. LLC (or their respective Affiliates that are Primary Treasury Dealers (as defined below)) and their respective successors and (2) two
other Primary Treasury Dealers selected by the Company after consultation with the Independent Investment Banker; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a
“Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer. 
 “Redemption
Reference Treasury Dealer Quotations” with respect to each Redemption Reference Treasury Dealer and any redemption date for the Offered Securities, means the average, as determined by the Quotation Agent, of the bid and offer prices at
11:00 a.m., New York City time, for the Comparable Redemption Treasury Issue (expressed in each case as a percentage of its principal amount) for settlement on the redemption date quoted in writing to the Quotation Agent by such Redemption Reference
Treasury Dealer on the third Business Day preceding such redemption date. 
 “Securityholder,” “Holder,”
“registered holder,” or other similar term, means the Person or Persons in whose name or names a particular Offered Security shall be registered on the books of the Issuers kept for that purpose in accordance with the terms of the
Indenture. 
 Section 1.02 Terms of Offered Securities. The following terms relate to the Offered
Securities: 
 (1) The Offered Securities constitute a single series of securities having the title “4.900% Senior Notes due
2032”. 
 (2) The initial aggregate principal amount of the Offered Securities that may be authenticated and delivered under the
Indenture (except for Offered Securities authenticated and delivered upon registration of, transfer of, or in exchange for, or in lieu of, other Offered Securities pursuant to Section 2.05, 2.06, 2.07, 2.11 or 3.03 of the Base Indenture) is
$400,000,000. 
 (3) The entire Outstanding principal of the Offered Securities shall be payable on December 1, 2032. 

(4) The Offered Securities will bear interest at a rate of 4.900% per annum. The basis upon which interest shall be calculated will be
that of a 360-day year consisting of twelve 30-day months. 

  
 3 

 (5) Interest on the Offered Securities shall accrue from September 14, 2022, or, if
later, the most recent Interest Payment Date to which interest in respect of the Offered Securities has been paid or provided for. The Interest Payment Dates for the Offered Securities shall be June 1 and December 1 of each year,
beginning on December 1, 2022. Interest in respect of the Offered Securities shall be payable semi-annually in arrears on each applicable Interest Payment Date to the applicable Holders of record at the close of business on the May 15
and November 15, as the case may be, next preceding such Interest Payment Date (the “regular record dates”). 
 (6)
[Reserved]. 
 (7) [Reserved]. 

(8) Prior to September 1, 2032 (the “Par Call Date”), the Issuers may, at their option, redeem the Offered Securities, in
whole at any time or in part from time to time, at a redemption price equal to the greater of: 
 (i) 100% of the
principal amount of the Offered Securities to be redeemed, and 
 (ii) as determined by the Quotation Agent and
delivered to the Trustee in writing, the sum of the present values of the remaining scheduled payments of principal and interest thereon that would be due if the Offered Securities matured on the Par Call Date (exclusive of interest accrued to the
redemption date), discounted to the redemption date (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Redemption Treasury Rate plus 30 basis
points, plus, 
 in either case, accrued and unpaid interest, if any, thereon to, but excluding, the redemption date (subject to the right
of Holders of record on the relevant regular record date to receive interest due on the relevant Interest Payment Date). 

On or after the Par Call Date, the Issuers may, at their option, redeem the Offered Securities, in whole at any time or in part
from time to time, at a redemption price equal to 100% of the principal amount of the Offered Securities to be redeemed, plus accrued and unpaid interest, if any, thereon to, but excluding, the redemption date (subject to the right of Holders of
record on the relevant regular record date to receive interest due on the relevant Interest Payment Date). 
 In addition,
the Offered Securities may be redeemed pursuant to Section 1.02(27) of this Ninth Supplemental Indenture (which supersedes and replaces Article XIV of the Base Indenture which shall not apply to the Offered Securities). 

(9) Except as provided in Section 1.02(17) of this Ninth Supplemental Indenture (which supersedes and replaces Section 4.08 of the
Base Indenture which shall not apply to the Offered Securities), the Offered Securities shall not be subject to redemption, repurchase or repayment at the option of any Holder thereof, upon the occurrence of any particular circumstance or
otherwise. The Offered Securities will not have the benefit of any sinking fund. 
 (10) The Offered Securities shall be substantially
in the form attached hereto as Exhibit A, the terms of which are herein incorporated by reference. 
 (11) The
Offered Securities will be issued in registered form without interest coupons and only in minimum denominations of $2,000 and whole multiples of $1,000 in excess thereof. 

(12) All payments of interest and principal, including payments made upon any redemption or repurchase of the Offered Securities, will be
payable in Dollars. 
 (13) [Reserved]. 

(14) [Reserved]. 

  
 4 

 (15) The Offered Securities shall be issuable in whole in the registered form of one or more
Global Securities, and DTC shall be the initial Depositary. 
 (16) The Offered Securities will not be convertible into or exchangeable for
other Securities, common shares or other securities of the Issuers. 
 (17) Solely with respect to the application of such provisions to the
Offered Securities, Sections 4.01, 4.02, 4.03, 4.04, 4.05 and 4.08 of the Base Indenture are hereby replaced and superseded by the following provisions: 

Section 4.01 Payment of Principal, Premium and Interest. 

The Issuers will duly and punctually pay or cause to be paid the principal of, premium, if any, and interest on the Offered Securities at the
time and place and in the manner provided herein and established with respect to the Offered Securities. 

Section 4.02 Maintenance of Office or Agency. 

So long as the Offered Securities remain Outstanding, the Issuers will maintain an office or agency where the Offered Securities may be
presented or surrendered for payment, where the Offered Securities may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Issuers in respect of the Offered Securities and this Indenture may be given
or served. Such designation will continue with respect to each office or agency until the Issuers, by written notice signed by any Officer of each of the Issuers and delivered to the Trustee, shall designate some other office or agency for such
purposes or any of them. If at any time the Issuers 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 Issuers hereby appoint the Trustee as its agent to receive all presentations, surrenders, notices and demands. The Issuers initially designate the office of U.S. Bank Trust Company,
National Association, acting as the Issuers’ agent, located at 1555 North RiverCenter Drive, Suite 203, Milwaukee, WI 53212, as the office to be maintained by it for each such purpose. 

Section 4.03 Paying Agents, Transfer Agent and Security Registrar. 

(a) The Issuers will maintain one or more paying agents for the Offered Securities. 

(b) In addition the Issuers will maintain a transfer agent and a registrar (the “Security Registrar”) for the Offered
Securities. The Security Registrar will maintain the Security Register, and together with the transfer agent, will make payments on and facilitate transfers of the Offered Securities on behalf of the Issuers. 

(c) The Issuers may enter into an appropriate agency agreement with any paying agent, Security Registrar or transfer agent. Such
agreement shall implement the provisions of this Indenture that relate to such Agent. The Issuers shall notify the Trustee of the name and address of any such Agent. The Issuers may remove any paying agent, Security Registrar or transfer
agent, as applicable, upon written notice to such paying agent, Security Registrar or transfer agent, as applicable, and to the Trustee; provided, however, that no such removal shall become effective until, if applicable, acceptance of an
appointment by a successor as evidenced by an appropriate agreement entered into by the Issuers and such successor paying agent, Security Registrar or transfer agent, as the case may be, and delivered to the Trustee. 

(d) The Issuers may change or appoint any paying agent, Security Registrar or transfer agent with respect to the Offered Securities without
prior notice to the Holders of the Offered Securities. The Issuers or any of the Issuers’ Subsidiaries may act as paying agent, transfer agent or Security Registrar in respect of the Offered Securities. 

  
 5 

 (e) The Issuers hereby initially appoint the Trustee as paying agent with respect to the
Offered Securities. The Trustee hereby accepts such appointment and the Issuers confirm that such initial appointment is acceptable to them. The Issuers hereby initially appoint the Trustee as Security Registrar and transfer agent with
respect to the Offered Securities. The obligations of the paying agent, transfer agent and Security Registrar shall be several and not joint. 

(f) The Issuers shall require each paying agent (other than an Issuer) to agree in writing that the paying agent will hold for the benefit of
Holders of Offered Securities or the Trustee all money held by the paying agent for the payment of principal of, premium, if any, on, interest on, or Additional Amounts, if any, on the Offered Securities, and will notify the Trustee of any default
by the Issuers in making any such payment. Money held by the paying agent need not be segregated, except as required by law, and in no event shall the paying agent be liable for interest on any money received by it hereunder. If either of
the Issuers or a Subsidiary of the Issuers acts as paying agent, it shall segregate and hold in a separate fund for the benefit of the Holders all money held by it as paying agent. 

(g) The Issuers will make payments of any amounts owing in respect of any Global Securities (including principal, premium, if any, interest
and any Additional Amounts) to the applicable paying agent, and such paying agent will, in turn, make such payments to the applicable Depositary or its nominee, as the case may be (subject to such paying agent having received cleared funds
sufficient to make such payments), as the sole registered owner and the sole Holder of the Offered Securities represented by a Global Security for all purposes under this Indenture. The applicable Depositary will distribute such payments to
Participants in accordance with the Applicable Procedures. Payments on all Offered Securities other than Global Securities will be made by the Issuers to the applicable paying agent and such paying agent will make payment by check to the
address provided by the Holder of such Offered Securities (or by wire transfer to those Holders that have provided wire instructions to the Issuers or the applicable paying agent). 

Section 4.04 Statement by Officers as to Default. 

The Issuers will furnish to the Trustee on or before 120 days after the end of each fiscal year an Officer’s Certificate stating that in
the course of the performance by the signers of their duties as Officers of the Issuers, they would normally have knowledge of any Default by the Issuers in the performance or fulfillment or observance of any covenants or agreements contained in
this Indenture during the preceding fiscal year, stating whether or not they have knowledge of any such Default and, if so, specifying each such Default of which the signers have knowledge and the nature thereof. The Officer’s Certificate
need not comply with Section 13.06 of the Base Indenture. 
 Section 4.05 Appointment to Fill Vacancy in
Office of Trustee. 
 The Issuers, whenever necessary to avoid or to fill a vacancy in the office of Trustee, will appoint, in the
manner provided in Section 7.10 of the Base Indenture, a Trustee, so that there shall be at all times a Trustee hereunder. 

Section 4.08 Offer to Repurchase Upon Change of Control Triggering Event. 

Upon the occurrence of a Change of Control Triggering Event, unless the Issuers have exercised their right to redeem the Offered Securities as
described under Section 1.02(8) of this Ninth Supplemental Indenture, each Holder of Offered Securities will have the right to require the Issuers to purchase all or a portion (equal to $2,000 or an integral multiple of $1,000 in excess
thereof) of such Holder’s Offered Securities pursuant to the offer described below (the “Change of Control Offer”), at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any,
thereon to, but excluding, the date of purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date) (the “Change of Control Payment”). If the Change
of Control Payment Date falls on a day that is not a Business Day, the related payment of the Change of Control Payment will be made on the next Business Day as if it were made on the date such payment was due, and no interest will accrue on the
amounts so payable for the period from and after such date to the next Business Day. 
 Within 30 days following the date upon which the
Change of Control Triggering Event occurs or, at the Issuers’ option, prior to and conditioned on the occurrence of, any Change of Control, but after the public announcement of the pending Change of Control, the Issuers will be required to
send, by first class mail, or deliver electronically if the Offered Securities are held by any Depositary, a notice to each Holder of Offered Securities, with a copy to the Trustee, which notice will govern the terms of the Change of Control
Offer. Such notice will state, 

  
 6 

 
among other things, the purchase date, which must be no earlier than 30 days nor later than 60 days from the date such notice is mailed or delivered electronically (or, in the case of a notice
mailed or delivered electronically prior to the date of consummation of a Change of Control, no earlier than the date of the occurrence of the Change of Control), other than as may be required by law (the “Change of Control Payment
Date”). The notice, if mailed or delivered electronically prior to the date of consummation of the Change of Control, will state that the Change of Control Offer is conditioned on the Change of Control being consummated on or prior to
the Change of Control Payment Date. 
 On the Change of Control Payment Date, the Issuers will, to the extent lawful: 

(i) accept or cause a third party to accept for payment all Offered Securities properly tendered pursuant to the Change of Control Offer;

 (ii) deposit or cause a third party to deposit with the applicable paying agent an amount equal to the Change of Control Payment in
respect of all Offered Securities properly tendered; and 
 (iii) deliver or cause to be delivered to the Trustee the Offered
Securities properly accepted together with an Officer’s Certificate stating the aggregate principal amount of Offered Securities being repurchased. 

The Issuers will not be required to make a Change of Control Offer with respect to the Offered Securities if a third party makes such an offer
in the manner, at the times and otherwise in compliance with the requirements for such an offer made by the Issuers and such third party purchases all the Offered Securities properly tendered and not withdrawn under its offer. In addition, the
Issuers will not repurchase Offered Securities if there has occurred and is continuing on the Change of Control Payment Date an Event of Default in respect of the Offered Securities, other than a Default in the payment of the Change of Control
Payment on the Change of Control Payment Date. 
 The Issuers must comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Offered Securities as
a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of the Offered Securities, the Issuers will be required to
comply with those securities laws and regulations and will not be deemed to have breached their obligations under this Section 4.08 with respect to the Offered Securities by virtue of any such conflict. 

(18) Solely with respect to the application of such provisions to the Offered Securities, Section 6.01 of the Base Indenture is hereby
amended as follows: 
 (i) any reference to the “Company” is hereby amended to refer instead to the “Issuers”; and 

(ii) the reference to “$200,000,000” in Section 6.01(a)(4) of the Base Indenture is amended to refer instead to
“$300,000,000.” 
 (19) [Reserved]. 

(20) Upon the Issuers’ request, each Holder and beneficial owner shall provide a properly completed and executed IRS Form W-9 or IRS Form W-8, as applicable, as would have been applicable if the Issuers were incorporated in the United States of America, any State thereof or the
District of Columbia. 
 (21) As modified by this Ninth Supplemental Indenture, the Offered Securities may be defeased in accordance with
the provisions of Section 11.03 of the Base Indenture and the Indenture shall cease to be of further effect with respect to the Offered Securities in accordance with the provisions of Section 11.02 of the Base Indenture. Solely with
respect to the application of such provisions to the Offered Securities, Section 11.03 of the Base Indenture is hereby amended as follows: 

(i) the reference to “Section 6.01(a)(4)” is amended to refer instead to “Section 6.01(a)(3)”; 

(ii) any reference to the “Company” is hereby amended to refer instead to the “Issuers”; and 

  
 7 

 (iii) Section 11.03(c)(4) of the Base Indenture is hereby replaced and superseded by
the following provision: 
 (4) the Issuers shall have delivered to the Trustee an Opinion of Counsel (which, in the case of a defeasance,
must be based on a change in law or a ruling received from the U.S. Internal Revenue Service) to the effect that the beneficial owners of the Offered Securities will not recognize income, gain or loss for United States Federal income tax purposes as
a result of the Issuers’ exercise of either option under this Section 11.03 and will be subject to United States Federal income tax in the same amount and in the same manner and at the same times as would have been the case if such
election had not been exercised; and 
 (22) [Reserved]. 

(23) The Offered Securities will be issued as Unrestricted Securities. 

(24) No Offered Securities shall be issued with guarantees. 

(25) Solely with respect to the application of such provisions to the Offered Securities, the following sections of the Base Indenture are
hereby amended as follows: 
 (i) any reference to the “Company” in the following sections or articles, as applicable, of the Base
Indenture, to the extent applicable to the Offered Securities, is hereby amended to refer instead to the “Issuers”: Sections 2.02 through 2.15, 3.01 through 3.06, 5.01, 5.02, 5.04 and 6.02 through 6.08, and Articles VII, VIII, IX, XI, XII
and XIII; 
 (ii) all references to “30 days” and “45 days” in Section 3.02 of the Base Indenture are amended to
refer instead to “10 days”; 
 (iii) Sections 9.01(b), 9.01(c) and 9.01(i) of the Base Indenture are hereby replaced and
superseded by the following provisions: 
 (b) to add an additional obligor on the Offered Securities or to add a guarantor of any Offered
Securities, or to evidence the succession of another Person to the Company or the Co-Issuer or any additional obligor or guarantor of the Offered Securities, or successive successions, and the assumption by
any Successor Company or Successor Co-Issuer of the covenants, agreements and obligations of such Company, Co-Issuer or such obligor or guarantor, as the case may be,
pursuant to Article X; 
 (c) to provide for uncertificated Offered Securities in addition to or in place of certificated Offered
Securities (provided, that the uncertificated Offered Securities are issued in registered form for purposes of Section 163(f) of the Code); 

(i) to provide for the issuance of and establish the form and terms and conditions of the Offered Securities as provided in Section 2.01
of the Base Indenture, to provide which, if any, of the covenants of the Company shall apply to such series, to provide which of the Events of Default shall apply to such series, to add a co-issuer, to name
one or more guarantors and provide for guarantees of such series, to provide for the terms and conditions upon which the guarantee by any guarantor of such series may be released or terminated, or to define the rights of the Holders of Offered
Securities; 
 (iv) The following provision is added as Section 9.02(viii): 

(viii) reduce the obligation to pay Additional Amounts or indemnity amounts for Taxes; 

(26) Solely with respect to the application of such provisions to the Offered Securities, Sections 10.01 and 10.02 of the Base Indenture are
hereby replaced and superseded by the following provisions: 

  
 8 

 Section 10.01 Consolidation, Merger and Sale of Assets.

 The Company will not, directly or indirectly, consolidate with or merge with or into, or convey, transfer or lease all or substantially
all of the Company’s assets in one or a series of related transactions to, any Person, unless: 
 (a) the resulting, surviving or
transferee Person (the “Successor Company”) will be a corporation, limited liability company, public limited company, limited partnership or other entity organized and existing under the laws of (u) the United States of
America, any State thereof or the District of Columbia, (v) Ireland, (w) England and Wales, (x) Jersey, (y) any member state of the European Union as in effect on the date the Offered Securities are first issued or
(z) Switzerland; provided that the Successor Company (if not the Company) will expressly assume, by a supplemental indenture, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, all the obligations of the
Company under the Offered Securities and this Indenture; 
 (b) immediately after giving effect to such transaction (and treating any
Indebtedness which becomes an obligation of the Successor Company or any Restricted Subsidiary as a result of such transaction as having been incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction), no
Default shall have occurred and be continuing; and 
 (c) the Company shall have delivered to the Trustee an Officer’s Certificate and
an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indenture (if any) comply with this Indenture. 

Notwithstanding the foregoing, (A) any conveyance, transfer or lease of assets between or among the Company and its Subsidiaries,
including the Co-Issuer, shall not be prohibited hereunder, and (B) the Company may, directly or indirectly, consolidate with or merge with or into an Affiliate incorporated solely for the purpose of
reincorporating the Company in another jurisdiction within the United States of America, any State thereof or the District of Columbia, Ireland, England and Wales, Jersey, any member state of the European Union as in effect on the date the
Offered Securities are first issued or Switzerland to realize tax or other benefits. 
 The
Co-Issuer will not, directly or indirectly, consolidate with or merge with or into, or convey, transfer or lease all or substantially all of the Co-Issuer’s assets
in one or a series of related transactions to, any Person, unless: 
 (a) the resulting, surviving or transferee Person (the
“Successor Co-Issuer”) will be a corporation, limited liability company, public limited company, limited partnership or other entity organized and existing under the laws of (u) the
United States of America, any State thereof or the District of Columbia, (v) Ireland, (w) England and Wales, (x) Jersey, (y) any member state of the European Union as in effect on the date the Offered Securities are first issued
or (z) Switzerland; provided that the Successor Co-Issuer (if not the Co-Issuer) will expressly assume, by a supplemental indenture, executed and delivered to the
Trustee, in form reasonably satisfactory to the Trustee, all the obligations of the Co-Issuer under the Offered Securities and this Indenture; 

(b) immediately after giving effect to such transaction (and treating any Indebtedness which becomes an obligation of the Successor Co-Issuer or any Restricted Subsidiary as a result of such transaction as having been incurred by the Successor Co-Issuer or such Restricted Subsidiary at the time of such
transaction), no Default shall have occurred and be continuing; and 
 (c) the Co-Issuer shall have
delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indenture (if any) comply with this Indenture. 

Notwithstanding the foregoing, the Co-Issuer may, directly or indirectly, consolidate with or merge
with or into an Affiliate incorporated solely for the purpose of reincorporating the Co-Issuer in another jurisdiction within the United States of America, any State thereof or the District of
Columbia, Ireland, England and Wales, Jersey, any member state of the European Union as in effect on the date the Offered Securities are first issued or Switzerland to realize tax or other benefits. 

  
 9 

 Section 10.02 Successor Company or Successor Co-Issuer Substituted. 
 Upon any consolidation or merger, or any conveyance, transfer or lease of
all or substantially all of the assets of the Company or the Co-Issuer, as applicable, in accordance with Section 10.01, the Successor Company or Successor
Co-Issuer, as applicable, will succeed to, and be substituted for, and may exercise every right and power of, the Company or the Co-Issuer hereunder, as applicable, and
the predecessor issuer or Co-Issuer, as applicable, other than in the case of a lease, will be automatically released from all obligations under the Offered Securities and this Indenture, including, without
limitation, the obligation to pay the principal of and interest on the Offered Securities. 
 (27) Solely with respect to the application of
such provisions to the Offered Securities, Article XIV of the Base Indenture is hereby replaced and superseded by the following provisions: 

ARTICLE XIV. 

ADDITIONAL AMOUNTS; CERTAIN TAX PROVISIONS 

Section 14.01 Redemption Upon Changes in Withholding Taxes. 

Either or both of the Issuers may redeem all, but not less than all, of the Offered Securities under the following conditions: 

(i) if there is an amendment to, or change in, the laws or regulations of a Relevant Taxing Jurisdiction or any change in the written
application or official written interpretation of such laws or regulations, including any action taken by, or a change in published administrative practice of, a taxing authority or a holding by a court of competent jurisdiction, regardless of
whether such action, change or holding is with respect to either or both of the Issuers, which amendment or change is publicly announced and becomes effective on or after the date of issuance of the Offered Securities (or, in the case of any
Relevant Taxing Jurisdiction that becomes a Relevant Taxing Jurisdiction after such date of issuance, after such later date); 

(ii) as a result of such amendment or change, either or both of the Issuers become, or there is a material probability that either or
both of the Issuers will become, obligated to pay Additional Amounts on the next payment date with respect to the Offered Securities, and such Issuer cannot avoid any such payment obligation by taking reasonable measures available (including having
the other Issuer make payments on the Offered Securities if such action would be reasonable); 
 (iii) the relevant Issuer (or Issuers)
delivers to the Trustee a written opinion of independent tax counsel to such Issuer (or Issuers) of recognized standing to the effect that such Issuer (or Issuers) has become, or there is a material probability that it will become, obligated to pay
Additional Amounts as a result of a change or amendment described in the foregoing clauses (i) and (ii); in addition, before the Issuer (or Issuers) mails notice of redemption of the Offered Securities as described below, it will deliver to the
Trustee an Officer’s Certificate to the effect that the obligation to pay Additional Amounts cannot be avoided by such Issuer by taking reasonable measures available (including having the other Issuer make payments on the Offered Securities if
such action would be reasonable); and 
 (iv) following the delivery of the opinion described in the foregoing clause (iii), the
relevant Issuer (or Issuers) provides notice of redemption for the Offered Securities not less than 10 days, but not more than 90 days, prior to the redemption date. The notice of redemption cannot be given more than 90 days before the earliest
date on which the Issuer (or Issuers) would be otherwise required to pay Additional Amounts, and the obligation to pay Additional Amounts must still be in effect when the notice is given. 

Upon the occurrence of each of clauses (i), (ii), (iii) and (iv) above, the relevant Issuer (or Issuers) may redeem the Offered
Securities at a redemption price equal to 100% of the principal amount thereof, together with accrued and unpaid interest, if any, thereon to, but excluding, the redemption date and all Additional Amounts (if any) then due and that will become due
on such redemption date as a result of the redemption or otherwise (subject to the right of Holders of record on the relevant record date to receive interest due on an Interest Payment Date that is prior to the redemption date and Additional Amounts
(if any) in respect thereof). 

  
 10 

 The provisions of this Section 14.01 shall apply mutatis mutandis to any
Successor Company to the Company or Successor Co-Issuer to the Co-Issuer, as applicable. 

Section 14.02 Payment of Additional Amounts. 

All payments in respect of the Offered Securities will be made by (or on behalf of) the Issuers free and clear of, and without withholding or
deduction for or on account of, any present or future taxes, duties, levies, imposts, assessments or governmental charges of whatever nature (including, without limitation, penalties and interest and other similar liabilities related thereto)
(“Taxes”), unless the withholding or deduction of such Taxes is required by law. 
 In the event that the Issuers are
required to withhold or deduct any amount for or on account of any Taxes imposed or levied by or on behalf of Ireland, Luxembourg or any other jurisdiction (other than the United States of America) in which either of the Issuers is incorporated,
resident or doing business for tax purposes or from or through which payments by or on behalf of the Issuers are made, or any political subdivision or any authority thereof or therein (each, but not including the United States of America or any
political subdivision or any authority thereof or therein, a “Relevant Taxing Jurisdiction”), from any payment made under or with respect to any Offered Security (including, without limitation, payments of principal, redemption
price, purchase price, interest or premium), the Issuers will pay such additional amounts (“Additional Amounts”) so that the net amount received by each Holder or beneficial owner of Offered Securities (including Additional Amounts)
after such withholding or deduction will equal the amount that such Holder or beneficial owner would have received if such Taxes had not been required to be withheld or deducted. 

Additional Amounts will not be payable with respect to a payment made to a Holder or beneficial owner of Offered Securities where such Holder
or beneficial owner is subject to taxation on such payment by the Relevant Taxing Jurisdiction for or on account of: 
 (a) any Taxes that
are imposed or withheld because such Holder or beneficial owner (or a fiduciary, settlor, beneficiary, or member of such Holder or beneficial owner if such Person is an estate, trust, partnership, limited liability company or other fiscally
transparent entity, or a Person holding a power over an estate or trust administered by a fiduciary holder): 
 (1) is or was present or
engaged in, or is or was treated as present or engaged in, a trade or business in the Relevant Taxing Jurisdiction or has or had a permanent establishment or other taxable presence in the Relevant Taxing Jurisdiction; or 

(2) has or had any present or former connection (other than the mere fact of ownership of the Offered Securities) with the Relevant Taxing
Jurisdiction, including being or having been a national citizen or resident thereof, being treated as being or having been a resident thereof or being or having been physically present therein; 

(b) any estate, inheritance, gift, transfer, personal property or similar Taxes imposed with respect to the Offered Securities; 

(c) any Taxes imposed as a result of the presentation of the Offered Securities, where presentation is required, for payment on a date more
than 30 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever is later, except to the extent that the beneficiary or Holder thereof would have been entitled to the
payment of Additional Amounts had such Offered Securities been presented for payment on any date during such 30-day period; 

(d) any Taxes imposed or withheld as a result of the failure of such Holder or beneficial owner, upon a written request, made to the Holder or
beneficial owner in writing at least 30 days before any such withholding or deduction would be made, by an Issuer, broker or other withholding agent, to timely and accurately comply (to the extent such Holder or beneficial owner is legally eligible
to do so) with any applicable certification, information, documentation or other reporting requirements concerning the nationality, residence, identity or connection of the Holder or beneficial owner with the Relevant Taxing Jurisdiction, if such
compliance is required by statute or regulation of the Relevant Taxing Jurisdiction as a precondition to relief or exemption from such Taxes; 

  
 11 

 (e) any Taxes that are payable by any method other than withholding or deduction by the
Issuers or any paying agent from payments in respect of the Offered Securities; 
 (f) any withholding or deduction required pursuant to
Sections 1471 through 1474 of the Code as of the issue date of the Offered Securities (or any amended or successor provisions of such sections that are substantively comparable and not materially more onerous to comply with), any regulations
thereunder or official interpretations thereof, any agreements entered into pursuant to Section 1471(b) of the Code, or any law or regulation implemented pursuant to an intergovernmental agreement between a
non-U.S. jurisdiction and the United States with respect to the foregoing; or 
 (g) any combination
of Section 14.02(a), (b), (c), (d), (e) and (f). 
 Additional Amounts also will not be payable for any Taxes that are imposed with
respect to any payment on an Offered Security to any Holder who is a fiduciary or partnership or Person other than the sole beneficial owner of such payment to the extent that no Additional Amounts would have been payable had the beneficial owner of
the applicable Offered Security been the Holder of such Offered Security. 
 The Issuers also: (i) will make such withholding or
deduction of Taxes; (ii) will remit the full amount of Taxes so deducted or withheld to the relevant tax authority in accordance with all applicable laws; (iii) will use their commercially reasonable efforts to obtain from each relevant
tax authority imposing such Taxes certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld; and (iv) upon request, will make available to the Holders of the Offered Securities, within 90 days after the date
the payment of any Taxes deducted or withheld is due pursuant to applicable law, certified copies of tax receipts evidencing such payment by the Issuers (unless, notwithstanding the Issuers’ efforts to obtain such receipts, the same are not
obtainable, in which case the Issuers will provide other evidence of payments by the Issuers). 
 At least 30 days prior to each date on
which any payment under or with respect to the Offered Securities is due and payable, if the Issuers will be obligated to pay Additional Amounts with respect to such payment, the Issuers will deliver to the Trustee an Officer’s Certificate
stating the fact that such Additional Amounts will be payable, the amounts so payable and such other information as is necessary to enable the Trustee to pay such Additional Amounts to Holders of the Offered Securities on the payment date (unless
such obligation to pay Additional Amounts arises less than 30 days prior to the relevant payment date, in which case the Issuers may deliver such Officer’s Certificate as promptly as practicable after the date that is 30 days prior to the
payment date). 
 In addition, the Issuers will pay for any present or future stamp, issue, registration, property, excise, transfer, court
or documentary or other similar Taxes and duties, including interest, penalties and Additional Amounts with respect thereto, payable in a Relevant Taxing Jurisdiction in respect of the creation, execution, issue, offering, enforcement, redemption or
retirement of the Offered Securities or any other document or instrument referred to therein, or the receipt of any payments with respect thereto. 

The provisions of this Article XIV shall survive any termination or the discharge of this Indenture and shall apply mutatis
mutandis to any Successor Company or Successor Co-Issuer. 
 Whenever in this Indenture or any
Offered Securities there is mentioned, in any context, the payment of principal, premium, if any, redemption price, repurchase price, interest or any other amount payable under or with respect to any Offered Securities, such mention shall be deemed
to include the payment of Additional Amounts to the extent payable in the particular context. 
 (28) The additional
provisions set forth below shall be applicable to the Offered Securities: 
 (a) Claims against the Issuers for the payment of principal or
Additional Amounts, if any, of the Offered Securities will be prescribed ten years after the applicable due date for payment thereof. Claims against the Issuers for the payment of interest, if any, of the Offered Securities will be prescribed five
years after the applicable due date for payment of interest. 

  
 12 

 (b) For the avoidance of doubt, articles 470-1 to 470-19 of the Luxembourg law of 10 August 1915 relating to commercial companies, as amended, do not apply to the Offered Securities. 

ARTICLE II. 

MISCELLANEOUS 

Section 2.01 Confirmation of Indenture. The Base Indenture, as supplemented, amended and superseded by
this Ninth Supplemental Indenture, as applicable, is in all respects ratified and confirmed, and the Base Indenture, this Ninth Supplemental Indenture and all indentures supplemental thereto in respect of the Offered Securities shall be read, taken
and construed as one and the same instrument. 
 Section 2.02 Concerning the Trustee. In carrying out
the Trustee’s responsibilities hereunder, the Trustee shall have all of the rights, protections and immunities which it possesses under the Indenture. The recitals contained herein and in the Offered Securities, except the certificate of
authentication, shall be taken as the statements of the Issuers, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Ninth Supplemental Indenture or of
the Offered Securities. The Trustee shall not be accountable for the use or application by the Company of the Offered Securities or the proceeds thereof. The Co-Issuer hereby affirms, and the Company
hereby reaffirms, their respective obligations under the Base Indenture to indemnify and hold harmless the Trustee as required under Article 7 of the Base Indenture, including under Section 7.06 of the Base Indenture. This indemnity shall
survive the final payment in full of the Offered Securities and the resignation or removal of the Trustee solely to the extent expressly provided in Article 7 of the Base Indenture. 

Section 2.03 Governing Law. This Ninth Supplemental Indenture and the Offered Securities shall be deemed
to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of the State of New York without regard to conflicts of laws principles that would require the application of
any other law. 
 Section 2.04 Separability. In case any provision in this Ninth Supplemental
Indenture shall for any reason 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 2.05 Counterparts. This Ninth Supplemental Indenture may be executed in any number of
counterparts each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. The words “execution,” “signed,” “signature,” “delivery,” and words of like
import in or relating to this Agreement or any document to be signed in connection with this Agreement shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same
legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct the transactions contemplated
hereunder by electronic means. 
 Section 2.06 No Benefit. Nothing in this Ninth Supplemental
Indenture, express or implied, shall give to any Person other than the parties hereto and their successors or assigns, and the Holders of the Offered Securities, any benefit or legal or equitable rights, remedy or claim under this Ninth Supplemental
Indenture or the Base Indenture. 

  
 13 

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

			
	JOHNSON CONTROLS INTERNATIONAL PLC
		
	By:	 	 /s/ Pieter Lens

	Name:	 	Pieter Lens
	Title:	 	Vice President and Treasurer
	
	 TYCO FIRE & SECURITY FINANCE S.C.A.
  

By: TYCO FIRE & SECURITY S.À R.L.
 its General
Partner and manager

		
	By:	 	 /s/ Richard J. Dancy

	Name:	 	Richard J. Dancy
	Title:	 	Manager

 [Signature Page to Ninth Supplemental Indenture] 

 
			
	U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Yvonne Siira

	Name:	 	Yvonne Siira
	Title:	 	Vice President

 [Signature Page to Ninth Supplemental Indenture] 

 EXHIBIT A 

FORM OF 4.900% SENIOR NOTES DUE 2032 

THIS GLOBAL SECURITY IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE (AS DEFINED HEREIN) GOVERNING THIS SECURITY) OR ITS NOMINEE IN CUSTODY FOR THE
BENEFIT OF THE HOLDERS OF BENEFICIAL INTERESTS HEREIN, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE ANY SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO THE INDENTURE,
(II) THIS GLOBAL SECURITY MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.05(C) OF THE INDENTURE, (III) THIS GLOBAL SECURITY MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO THE
INDENTURE AND (IV) THIS GLOBAL SECURITY MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUERS. 
 UNLESS AND
UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR TO
ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE ISSUERS OR
THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF ANY ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO SUCH ENTITY AS
MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF HAS AN INTEREST HEREIN. 

 4.900% SENIOR NOTES DUE 2032 

 

			
	 No. [     ]

ISIN No. US47837RAE09
 CUSIP. 47837R AE0
	  	 $[    ]

  
  

JOHNSON CONTROLS INTERNATIONAL PLC 

TYCO FIRE & SECURITY FINANCE S.C.A. 

promises to pay to [CEDE & CO.] [    ] or registered assigns, the principal sum of [    ] Dollars, or such
other sum as is set forth in the Schedule of Increases or Decreases of the Global Security attached hereto, on December 1, 2032. 
 Interest Payment
Dates: June 1 and December 1 of each year 
 Regular Record Dates: May 15 and November 15 of each year 

Each Holder of this Note (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the Indenture described
herein, and authorizes and directs the Trustee described herein on such Holder’s behalf to be bound by such provisions. Each Holder of this Note hereby waives all notice of the acceptance of the provisions contained herein and in the
Indenture and waives reliance by such Holder upon said provisions. 
 This Note shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose unless the Certificate of Authentication hereon shall have been duly executed by the Trustee or Authenticating Agent by manual or facsimile signature of an authorized signatory. The provisions of this Note are
continued on the reverse side hereof, and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 

 IN WITNESS WHEREOF, the Issuers have caused this instrument to be signed in accordance with
Section 2.04 of the Indenture. 
 Date: September 14, 2022 

 

	
	JOHNSON CONTROLS INTERNATIONAL PLC
	
	          

	Name:
	Title:
	
	          

	Name:
	Title:
	
	 TYCO FIRE & SECURITY FINANCE S.C.A.
  

By: TYCO FIRE & SECURITY S. À R.L.
 its General
Partner and manager

	
	          

	Name:
	Title:

 CERTIFICATE OF AUTHENTICATION 

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

 

			
	U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 
		 	Name:
		 	Title:
	
	Dated:

 JOHNSON CONTROLS INTERNATIONAL PLC 

TYCO FIRE & SECURITY FINANCE S.C.A. 

4.900% Senior Notes due 2032 

This security is one of a duly authorized series of debt securities of Johnson Controls International plc, a public company limited by shares,
incorporated under the laws of Ireland (the “Company”), and Tyco Fire & Security Finance S.C.A., a corporate partnership limited by shares (société en commandite par actions) incorporated and organized
under the laws of the Grand Duchy of Luxembourg (the “Co-Issuer” and, together with the Company, the “Issuers”), issued or to be issued in one or more series under and
pursuant to an Indenture, dated as of December 28, 2016 (the “Base Indenture”), duly executed and delivered by and among the Company and U.S. Bank Trust Company, National Association (successor in interest to U.S. Bank National
Association), as trustee (the “Trustee”), as supplemented by the Ninth Supplemental Indenture, dated as of September 14, 2022 (the “Ninth Supplemental Indenture” and, the Base Indenture as so supplemented, the
“Indenture”), by and among the Company, the Co-Issuer and the Trustee. By the terms of the Base Indenture, the Securities issuable thereunder are issuable in series that may vary as to
amount, date of maturity, rate of interest and in other respects as provided in the Base Indenture. This Security is one of the series designated on the face hereof (individually, a “Note,” and collectively, the
“Notes”), and reference is hereby made to the Indenture for a description of the rights, limitations of rights, obligations, duties and immunities of the Trustee, the Issuers and the Holders of the Notes (the
“Noteholders”). Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Base Indenture or the Ninth Supplemental Indenture, as applicable. 

1. Interest. The Issuers promise to pay interest on the principal amount of this Note at an annual rate of 4.900%. The
Issuers will pay interest semi-annually in arrears on June 1 and December 1 of each year (each such day, an “Interest Payment Date”). If any Interest Payment Date, redemption date or maturity date of this Note is not
a Business Day, then payment of principal, premium, if any, or interest shall be made on the next Business Day with the same force and effect as if made on the nominal date such payment was due, and no interest shall accrue for the period after such
nominal date to the date of such payment on the next Business Day. Interest on the Notes will accrue from the most recent date to which interest has been paid or duly provided for (or September 14, 2022, if no interest has been
paid). Interest on the Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 

2. Method of Payment. The Issuers will pay the interest installment on this Note that is payable, and is punctually paid or duly
provided for, on any Interest Payment Date for the Notes to the Person in whose name this Note (or one or more Predecessor Securities hereto) is registered at the close of business on the regular record date referred to on the facing page of
this Note for such interest installment. In the event that this Note or a portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such
Interest Payment Date, interest on this Note will be paid upon presentation and surrender of this Note as provided in the Indenture. The principal of and the interest on this Note shall be payable in Dollars at the office or agency of the
Issuers maintained for that purpose in accordance with the Indenture. 
 3. Paying Agent, Transfer Agent and Security
Registrar. Initially, the Trustee will act as paying agent, transfer agent and Security Registrar. The Issuers may change or appoint any paying agent, Security Registrar or transfer agent without prior notice to any
Noteholder. The Issuers or any of their subsidiaries may act as paying agent, transfer agent or Security Registrar in respect of any Notes. 

4. Indenture. 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 of 1939 (“TIA”) as in effect from time to time. The Notes are subject to all such terms, and Noteholders are referred to the Indenture and TIA for a statement of such terms. The Notes are unsecured
general obligations of the Issuers and constitute the series designated on the face hereof as the “4.900% Senior Notes due 2032”, initially limited to $400,000,000 in aggregate principal amount. 

The Issuers will furnish to any Noteholder upon written request and without charge a copy of the Base Indenture and the Ninth Supplemental
Indenture. Requests may be made to: Johnson Controls International plc, One Albert Quay, Cork, Ireland T12 X8N6. 

 5. Optional Redemption. The Notes will be subject to redemption in accordance
with the terms of Sections 1.02(8) and 1.02(27) of the Ninth Supplemental Indenture and Article III of the Base Indenture. If the giving of notice of redemption shall have been completed as provided in the Indenture, interest on such Notes
or portions of Notes will cease to accrue on and after the date fixed for redemption, unless the Issuers default in the payment of the applicable redemption price and accrued interest (if any) with respect to any such Note or portion
thereof. The Issuers shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes. 
 6.
Change of Control Triggering Event. Upon the occurrence of a Change of Control Triggering Event with respect to the Notes, unless the Issuers have exercised their right to redeem the Notes by giving irrevocable notice on or prior to the
30th day after the Change of Control Triggering Event in accordance with the Indenture, each Holder of the Notes will have the right to require the Issuers to purchase all or a portion (equal to $2,000 or an integral multiple of $1,000 in excess
thereof) of such Holder’s Notes pursuant to a Change of Control Offer in accordance with Section 1.02(17) of the Ninth Supplemental Indenture. 

7. Denominations, Transfer, Exchange. The Notes are in registered form without interest coupons in the minimum denominations of
$2,000 or any integral multiple of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. Subject to and in accordance with Section 2.05 of the Base Indenture, the
Notes may be presented for exchange or for registration of transfer at the office of the Security Registrar or at the office of any transfer agent designated by the Issuers for such purpose. 

8. Persons Deemed Owners. Prior to the due presentment for the registration of a transfer of any Note, the Issuers, the Trustee,
any applicable paying agent, any transfer agent and any Security Registrar may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on
such Notes and for all other purposes, and neither the Issuers nor the Trustee nor any applicable paying agent, transfer agent or Security Registrar shall be affected by any notice to the contrary. 

9. [Reserved]. 
 10.
[Reserved]. 
 11. Defaults and Remedies. If an Event of Default shall have occurred and be continuing in respect of the
Notes, in each and every such case, unless the principal of all the Notes shall have already become due and payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Notes then Outstanding, by notice in
writing to the Issuers, and to the Trustee if given by such Noteholders, may declare the Notes to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, notwithstanding anything
contained in the Indenture or in the Notes to the contrary. 
 12. Trustee, Paying Agent, Transfer Agent and Security Registrar
May Hold Notes. The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuers or any Affiliate of the Issuers with the same rights it would have if it
were not Trustee. However, in the event that the Trustee acquires any conflicting interest, it must either eliminate such conflict within 90 days, apply to the Commission for permission to continue as Trustee or resign. Any Authenticating
Agent, paying agent, transfer agent or Security Registrar may do the same with like rights and duties. The Trustee must also comply with Section 7.08 of the Base Indenture. 

13. No Recourse Against Others. No recourse under or upon any obligation, covenant or agreement of the Indenture, or of any Note,
or for any claim based thereon or otherwise in respect hereof or thereof, shall be had against any incorporator, shareholder, officer, manager or director, past, present or future as such, of the Issuers or of any predecessor or successor Person,
either directly or through the Issuers or any such predecessor or successor Person, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood
that the Indenture, the Notes and the obligations issued hereunder and thereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, shareholders,
officers, managers or directors as such, of the Issuers or of any predecessor or successor Person, or any of them, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or
agreements contained in the Indenture or in any of 

 
the Notes or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such
rights and claims against, every such incorporator, shareholder, officer, manager or director as such, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or agreements
contained in the Indenture or in any of the Notes or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of the Indenture and the issuance of the Notes. 

14. Discharge of Indenture. The Indenture contains certain provisions pertaining to discharge and defeasance, which provisions
shall for all purposes have the same effect as if set forth herein. 
 15. Authentication. This Note shall not be valid until
the Trustee or Authenticating Agent signs the certificate of authentication attached to the other side of this Note. 
 16. CUSIP
Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Note Identification Procedures the Issuers have caused CUSIP numbers to be printed on this Note. No representation is made as to the correctness of such numbers
as printed on the Notes and reliance may be placed only on the other identification numbers placed thereon. 
 17. Additional
Amounts. The Issuers are obligated to pay Additional Amounts on this Note to the extent provided in Section 1.02(27) of the Ninth Supplemental Indenture. 

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

19. Governing Law. The Indenture and this Note shall be deemed to be a contract made under the internal laws of the State of New
York, and for all purposes shall be construed in accordance with the laws of the State of New York without regard to conflicts of laws principles that would require the application of any other law. 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to 

 
  

	
	(Insert assignee’s soc. sec. or tax I.D. no.)

  
  

 
  
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint
                                      
                                         
                      agent to transfer this Note on the books of the Issuers. The agent may substitute another to act for him.

  

							
	Date:                                    
	 		 		 	
				
		 		 	Your Signature:	 	          

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

 SCHEDULE OF INCREASES OR DECREASES OF THE GLOBAL SECURITY 

The initial outstanding principal amount of this Global Security is
$[            ]. The following increases and decreases in this Global Security have been made: 
  

									
	 Date of Exchange
	 	 Amount of decrease in

Principal Amount of

this Global Security
	 	 Amount of increase in

Principal Amount of

this Global Security
	  	 Principal Amount

of this Global Security

following such decrease

(or increase)
	  	 Signature of authorized

officer of Registrar or

Trustee

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