Document:

Exhibit 4.4

 

EXECUTION COPY

FIRST AMENDMENT

TO

AMENDED AND RESTATED DEFAULTED RECEIVABLES SUPPLEMENTAL 

SERVICING AGREEMENT

 

THIS FIRST AMENDMENT TO THE AMENDED AND RESTATED
DEFAULTED RECEIVABLES SUPPLEMENTAL SERVICING AGREEMENT, dated as of July 8, 2015 (this “Amendment”) is
by and between BANK OF AMERICA, NATIONAL ASSOCIATION, a national banking association, as servicer (the “Servicer”
or “BANA”) and BA CREDIT CARD FUNDING, LLC, a Delaware limited liability company, as transferor (“Funding”).

 

WHEREAS, the Servicer and Funding have heretofore
executed and delivered a Defaulted Receivables Supplemental Servicing Agreement, dated as of September 11, 2009; (the “Original
Defaulted Receivables Supplemental Servicing Agreement”);

 

WHEREAS, Funding and the Administrator have
heretofore amended and restated the Original Defaulted Receivables Supplemental Servicing Agreement through the execution and delivery
of an Amended and Restated Defaulted Receivables Supplemental Servicing Agreement, dated as of October 1, 2014 (the “Defaulted
Receivables Supplemental Servicing Agreement”);

 

WHEREAS, pursuant to Section 3.02 of the Defaulted
Receivables Supplemental Servicing Agreement, the parties hereto desire to amend the Defaulted Receivables Supplemental Servicing
Agreement.

 

NOW THEREFORE, in consideration of the promises
and the agreements contained herein, the parties hereto agree to amend the provisions of the Defaulted Receivables Supplemental
Servicing Agreement as follows:

 

ARTICLE I

 

DEFINITIONS

 

Section 1.01.Capitalized Terms.
Capitalized terms used in this Amendment and not otherwise defined shall have the meanings ascribed thereto in the Defaulted Receivables
Supplemental Servicing Agreement.

 

ARTICLE II

 

AMENDMENTS

 

Section 2.01.Amendments to Article
I, Section 1.01 of the Administrative Agreement.

 

(a)    The defined term “Pooling
Agreement” is hereby deleted in its entirety and replaced with the following:

 

“Pooling Agreement” means the Third Amended
and Restated Pooling and Servicing Agreement, dated as of October 1, 2014, as amended by the First Amendment to Third Amended and
Restated Pooling and Servicing Agreement, dated as of July 8, each among the Servicer, Funding, and the MTII Trustee, as further
amended, supplemented, or otherwise modified from time to time.

 

(b)    The defined term “Receivables
Purchase Agreement” is hereby deleted in its entirety and replaced with the following:

 

“Receivables Purchase Agreement” means
the Second Amended and Restated Receivables Purchase Agreement, dated as of July 8, 2015, by and among Banc of America Consumer
Card Services, LLC, Funding, and BANA, and as acknowledged and accepted by the MTII Trustee and BANA, as servicer for MTII, as
amended, supplemented or otherwise modified from time to time.

 

    	 

    	 

    

ARTICLE III

 

MISCELLANEOUS

 

Section 3.01.    Conditions Precedent.
The amendments provided for by this Amendment shall become effective upon receipt by Funding and BANA of counterparts of this Amendment,
duly executed by the parties hereto.

 

Section 3.02.    Administrative Agreement
in Full Force and Effect as Amended. Except as specifically amended or waived hereby, all of the terms and conditions of the
Administrative Agreement shall remain in full force and effect. All references to the Administrative Agreement in any other document
or instrument among the parties hereto shall be deemed to mean such Administrative Agreement as amended by this Amendment. This
Amendment shall not constitute a novation of the Administrative Agreement but shall constitute an amendment thereof. The parties
hereto agree to be bound by the terms and obligations of the Administrative Agreement, as amended by this Amendment, as though
the terms and obligations of the Administrative Agreement were set forth herein.

 

Section 3.03.    Headings. Section
headings in this Amendment are included herein for convenience of reference only and shall not constitute part of this Amendment
for any other purpose.

 

Section 3.04.    Governing Law; Submission
to Jurisdiction; Agent for Service of Process. This Amendment shall be governed by and construed in accordance with the laws
of the State of Delaware, without regard to principles of conflict of laws. The parties hereto declare that it is their intention
that this Amendment shall be regarded as made under the laws of the State of Delaware and that the laws of said State shall be
applied in interpreting its provisions in all cases where legal interpretation shall be required. Each of the parties hereto agrees
(a) that this Amendment involves at least $100,000.00, and (b) that this Amendment has been entered into by the parties
hereto in express reliance upon 6 DEL. C. § 2708. Each of the parties hereto hereby irrevocably and unconditionally
agrees (a) to be subject to the jurisdiction of the courts of the State of Delaware and of the federal courts sitting in the
State of Delaware, and (b)(1) to the extent such party is not otherwise subject to service of process in the State of Delaware,
to appoint and maintain an agent in the State of Delaware as such party’s agent for acceptance of legal process, and (2) that,
to the fullest extent permitted by applicable law, service of process may also be made on such party by prepaid certified mail
with a proof of mailing receipt validated by the United States Postal Service constituting evidence of valid service, and that
service made pursuant to (b)(1) or (2) above shall, to the fullest extent permitted by applicable law, have the same legal force
and effect as if served upon such party personally within the State of Delaware.

 

Section 3.05.    Counterparts.
This Amendment may be executed in any number of counterparts and by separate parties hereto on separate counterparts, each of which
when executed shall be deemed an original, but all such counterparts taken together shall constitute one and the same instrument.

 

[Signature Page Follows]

 

    	- 2 -

    	 

    

IN WITNESS WHEREOF, BANA and Funding have
caused this Amendment to be duly executed by their respective officers as of the day and year first above written.

 

	 	BANK OF AMERICA, NATIONAL 

ASSOCIATION,
	 	   as Servicer
	 	 	 	 
	 	By:	/s/ Keith W. Landis
	 	 	Name: 	Keith W. Landis
	 	 	Title: 	V.P.
	 	 	 	 
	 	 	 	 
	 	BA CREDIT CARD FUNDING, LLC,
	 	   as Transferor
	 	 	 	 
	 	By:	/s/ Keith W. Landis
	 	 	Name: 	Keith W. Landis
	 	 	Title: 	V.P.

 

 

 

[Signature Page to First Amendment to

Amended and Restated Defaulted Receivables Supplemental Servicing Agreement]

 

    	- 3 -Exhibit 4.1

 

EXECUTION VERSION 

 

 

 

 

 

 

INDENTURE 

5.875% Senior Notes Due 2023

 

among

 

 

SS&C
TECHNOLOGIES HOLDINGS, INC., 

as Issuer

 

 

THE GUARANTORS
PARTY HERETO

 

and

 

 

WILMINGTON
TRUST, NATIONAL ASSOCIATION,

as Trustee

 

 

Dated July 8, 2015

 

 

 

 

    	 

    	 

    

 

	table of contents	Page
	 	 
	Article I DEFINITIONS AND INCORPORATION BY REFERENCE	1
	Section 1.01	Definitions	1
	Section 1.02	Other Definitions	31
	Section 1.03	Incorporation by Reference of Trust Indenture Act if Qualified thereunder	31
	Section 1.04	Rules of Construction	32
	Section 1.05	Acts of Holders	33
	 	 	 
	Article II THE NOTES	34
	Section 2.01	Form and Dating; Terms	34
	Section 2.02	Execution and Authentication	35
	Section 2.03	Registrar and Paying Agent	35
	Section 2.04	Paying Agent to Hold Money in Trust	35
	Section 2.05	Holder Lists	36
	Section 2.06	Transfer and Exchange	36
	Section 2.07	Replacement Notes	47
	Section 2.08	Outstanding Notes	47
	Section 2.09	Treasury Notes	48
	Section 2.10	Temporary Notes	48
	Section 2.11	Cancellation	48
	Section 2.12	Defaulted Interest	48
	Section 2.13	CUSIP/ISIN Numbers	49
	 	 	 
	Article III REDEMPTION	49
	Section 3.01	Notices to Trustee	49
	Section 3.02	Selection of Notes to Be Redeemed or Purchased	49
	Section 3.03	Notice of Redemption	49
	Section 3.04	Effect of Notice of Redemption	50
	Section 3.05	Deposit of Redemption or Repurchase Price	51
	Section 3.06	Notes Redeemed or Purchased in Part	51
	Section 3.07	Optional Redemption	51
	Section 3.08	Mandatory Redemption	52
	Section 3.09	Offers to Repurchase by Application of Excess Proceeds	52
	 	 	 
	Article IV COVENANTS	54
	Section 4.01	Payment of Notes	54
	Section 4.02	Maintenance of Office or Agency	54
	Section 4.03	Reports and Other Information	54
	Section 4.04	Compliance Certificate	56
	Section 4.05	Taxes	56
	Section 4.06	Stay, Extension and Usury Laws	56
	Section 4.07	Limitation on Restricted Payments	57
	Section 4.08	Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	61
	Section 4.09	Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock	63
	Section 4.10	Asset Sales	68
	Section 4.11	Transactions with Affiliates	71
	Section 4.12	Liens	73
	Section 4.13	Corporate Existence	73
	Section 4.14	Offer to Repurchase Upon Change of Control	74

 

 

    	(i)

    	 

    

 

Page

 

	Section 4.15	Limitation on Guarantees of Indebtedness by Restricted Subsidiaries	76
	Section 4.16	Suspension of Certain Covenants	76
	Section 4.17	Additional Interest Notice	77
	Section 4.18	Financial Calculations for Limited Condition Acquisitions	77
	 	 	 
	Article V SUCCESSORS	78
	Section 5.01	Merger, Consolidation or Sale of All or Substantially All Assets	78
	Section 5.02	Successor Corporation Substituted	79
	 	 	 
	Article VI DEFAULTS AND REMEDIES	79
	Section 6.01	Events of Default	79
	Section 6.02	Acceleration	81
	Section 6.03	Other Remedies	81
	Section 6.04	Waiver of Defaults	82
	Section 6.05	Control by Majority	82
	Section 6.06	Limitation on Suits	82
	Section 6.07	Rights of Holders of Notes to Receive Payment	83
	Section 6.08	Collection Suit by Trustee	83
	Section 6.09	Restoration of Rights and Remedies	83
	Section 6.10	Rights and Remedies Cumulative	83
	Section 6.11	Delay or Omission Not Waiver	83
	Section 6.12	Trustee May File Proofs of Claim	84
	Section 6.13	Priorities	84
	Section 6.14	Undertaking for Costs	84
	 	 	 
	Article VII TRUSTEE	85
	Section 7.01	Duties of Trustee	85
	Section 7.02	Rights of Trustee	86
	Section 7.03	Individual Rights of Trustee	87
	Section 7.04	Trustee’s Disclaimer	87
	Section 7.05	Notice of Defaults	87
	Section 7.06	Reports by Trustee to Holders of the Notes	87
	Section 7.07	Compensation and Indemnity	88
	Section 7.08	Replacement of Trustee	88
	Section 7.09	Successor Trustee by Merger, etc.	89
	Section 7.10	Eligibility; Disqualification	89
	Section 7.11	Preferential Collection of Claims Against Issuer	90
	 	 	 
	Article VIII LEGAL DEFEASANCE AND COVENANT DEFEASANCE	90
	Section 8.01	Option to Effect Legal Defeasance or Covenant Defeasance	90
	Section 8.02	Legal Defeasance and Discharge	90
	Section 8.03	Covenant Defeasance	90
	Section 8.04	Conditions to Legal or Covenant Defeasance	91
	Section 8.05	Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions	92
	Section 8.06	Repayment to Issuer	93
	Section 8.07	Reinstatement	93
	 	 	
	Article IX AMENDMENT, SUPPLEMENT AND WAIVER	93
	Section 9.01	Without Consent of Holders of Notes	93

 

 

    	(ii)

    	 

    

 

Page

 

	Section 9.02	With Consent of Holders of Notes	94
	Section 9.03	Revocation and Effect of Consents	95
	Section 9.04	Notation on or Exchange of Notes	96
	Section 9.05	Trustee to Sign Amendments, etc.	96
	Section 9.06	Compliance with Trust Indenture Act	96
	 	 	 
	Article X GUARANTEES	96
	Section 10.01	Guarantee	96
	Section 10.02	Limitation on Guarantor Liability	98
	Section 10.03	Execution and Delivery	98
	Section 10.04	Subrogation	98
	Section 10.05	Benefits Acknowledged	98
	Section 10.06	Release of Guarantees	99
	 	 	 
	Article XI SATISFACTION AND DISCHARGE	99
	Section 11.01	Satisfaction and Discharge	99
	Section 11.02	Application of Trust Money	100
	 	 	 
	Article XII MISCELLANEOUS	100
	Section 12.01	Notices	100
	Section 12.02	Communication by Holders of Notes with Other Holders of Notes	102
	Section 12.03	Certificate and Opinion as to Conditions Precedent	102
	Section 12.04	Statements Required in Certificate or Opinion	102
	Section 12.05	Rules by Trustee and Agents	102
	Section 12.06	No Personal Liability of Directors, Officers, Employees and Stockholders	102
	Section 12.07	Governing Law	103
	Section 12.08	Waiver of Jury Trial	103
	Section 12.09	Force Majeure	103
	Section 12.10	No Adverse Interpretation of Other Agreements	103
	Section 12.11	Successors	103
	Section 12.12	Severability	103
	Section 12.13	Counterpart Originals	103
	Section 12.14	Table of Contents, Headings, etc.	103
	Section 12.15	Waiver of Immunity	103
	Section 12.16	U.S.A. Patriot Act	104

 

 

 

 

    	(iii)

    	 

    

INDENTURE, dated as
of July 8, 2015, among SS&C Technologies Holdings, Inc., a Delaware corporation (the “Issuer,” as more fully
set forth in Section 1.01), the Guarantors (as defined herein) and Wilmington Trust, National Association, as Trustee
(as defined herein).

 

W I T N E S S E T H

 

WHEREAS, the Issuer
has duly authorized the creation of an issue of $600,000,000 aggregate principal amount of its 5.875% Senior Notes due 2023 (the
“Initial Notes” and, together with any Exchange Notes and any Additional Notes (each as defined herein), the
“Notes”); and

 

WHEREAS, the Issuer
has duly authorized the execution and delivery of this Indenture.

 

NOW, THEREFORE, the
Issuer, the Guarantors and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of
the Holders (as defined herein) of the Notes.

 

Article
I

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.01        
Definitions.

 

“144A Global
Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the
Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that
will be issued in an initial denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A.

 

“Acquired
Indebtedness” means, with respect to any specified Person,

 

(1)        
Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Restricted Subsidiary
of such specified Person, including Indebtedness incurred in connection with, or in contemplation of, such other Person merging
with or into or becoming a Restricted Subsidiary of such specified Person, and

 

(2)         
Indebtedness secured by a Lien encumbering any asset acquired by such specified Person.

 

“Acquisition”
means the acquisition by the Issuer and its Subsidiaries of Advent Software, Inc., a Delaware corporation, pursuant to that certain
Agreement and Plan of Merger, dated as of February 2, 2015.

 

“Additional
Interest” means all additional interest then owing pursuant to the Registration Rights Agreement.

 

“Additional
Notes” means additional Notes (other than the Initial Notes), including any Exchange Notes issued in exchange for such
additional Notes, issued from time to time under this Indenture in accordance with Sections 2.01, 2.02 and 4.09.

 

“Affiliate”
of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For purposes of this definition, “control” (including, with correlative
meanings, the terms “controlling,” “controlled by” and “under common control with”), as used
with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of
the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise.

 

“Agent”
means any Registrar or Paying Agent.

 

 

    	1

    	 

    

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

 

(1)         
1.0% of the principal amount of such Note on such Redemption Date; and

 

(2)         
the excess, if any, of (i) the present value at such Redemption Date of (A) the redemption price of such Note
at July 15, 2018 (such redemption price being set forth in the table appearing in Section 3.07(b)), plus (B) all
required interest payments due on such Note through July 15, 2018 (excluding accrued but unpaid interest to the Redemption Date),
computed using a discount rate equal to the Treasury Rate as of such Redemption Date plus 50 basis points; over (ii) the
principal amount of such Note.

 

The Issuer or such
Person as designated by the Issuer shall determine the Applicable Premium.

 

“Applicable
Procedures” means, with respect to any payment, tender, redemption, transfer or exchange of or for beneficial interests
in any Global Note, the rules and procedures of the Depositary, Euroclear and/or Clearstream that apply to such payment, tender,
redemption, transfer or exchange.

 

“Asset Sale”
means:

 

(1)         
the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related transactions,
of property or assets (including by way of a Sale and Leaseback Transaction) of the Issuer or any of its Restricted Subsidiaries
(each referred to in this definition as a “disposition”); or

 

(2)         
the issuance or sale of Equity Interests of any Restricted Subsidiary (other than Preferred Stock or Disqualified Stock
of Restricted Subsidiaries issued in compliance with Section 4.09 or directors qualifying shares and shares issued to foreign
nationals as required under applicable law), whether in a single transaction or a series of related transactions;

 

in each case, other
than:

 

(a)               
any disposition of Cash Equivalents or obsolete, worn out, uneconomic or damaged assets or assets no longer used or useful
in the business in the ordinary course of business or any disposition of inventory or goods (or other assets) held for sale in
the ordinary course of business;

 

(b)              
the disposition of all or substantially all of the assets of the Issuer in a manner permitted pursuant to Section 5.01
or any disposition that constitutes a Change of Control pursuant to this Indenture;

 

(c)               
the making of any Restricted Payment or Permitted Investment that is permitted to be made, and is made, under Section
4.07;

 

(d)              
any disposition of assets or issuance or sale of Equity Interests of any Restricted Subsidiary in any transaction or series
of related transactions with an aggregate fair market value (as determined in good faith by the Issuer) of less than $40.0 million;

 

(e)               
any disposition of property or assets or issuance of securities by a Restricted Subsidiary of the Issuer to the Issuer or
by the Issuer or a Restricted Subsidiary of the Issuer to another Restricted Subsidiary of the Issuer;

 

(f)               
(A) dispositions of property to the extent that such property is exchanged for credit against the purchase price of similar
replacement property that is promptly purchased, (B) dispositions of property to the extent that the proceeds of such disposition
are promptly applied to the purchase price of such replacement property (which

 

    	2

    	 

    

replacement
property is actually promptly purchased) and (iii) to the extent allowable under Section 1031 of the Code, or any comparable
or successor provision, any exchange of like property (excluding any boot thereon) for use in a Similar Business;

 

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

 

(h)              
any issuance, sale or other disposition of Equity Interests in, or Indebtedness or other securities of, an Unrestricted
Subsidiary;

 

(i)                
foreclosures on assets, transfers of condemned property as a result of the exercise of “eminent domain” or other
similar policies (whether by deed in lieu of condemnation or otherwise) and transfers of properties that have been subject to a
casualty to the respective insurer of such property as part of an insurance settlement;

 

(j)                
any financing transaction with respect to property built or acquired by the Issuer or any Restricted Subsidiary after the
Issue Date, including Sale and Leaseback Transactions and asset securitizations permitted by this Indenture;

 

(k)              
the licensing or sub-licensing of intellectual property or other general intangibles in the ordinary course of business
(other than exclusive, world-wide licenses that are longer than three years);

 

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

 

(m)            
the lapse or abandonment of intellectual property rights in the ordinary course of business, which in the reasonable good
faith determination of the Issuer are not material to the conduct of the business of the Issuer and its Restricted Subsidiaries
taken as a whole;

 

(n)              
dispositions in connection with Permitted Liens;

 

(o)              
any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a Person
(other than the Issuer or a Restricted Subsidiary) from whom such Restricted Subsidiary was acquired, or from whom such Restricted
Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition), made as part of such
acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition;

 

(p)              
any surrender or waiver of contractual rights or the settlement, release, surrender or waiver of contractual, tort, litigation
or other claims of any kind;

 

(q)              
the unwinding of any Hedging Obligations pursuant to its terms;

 

(r)                
any sales, transfers, leases and other dispositions made in order to effect the Transactions;

 

(s)               
an issuance of Capital Stock by a Restricted Subsidiary to the Issuer or to another Restricted Subsidiary; and

 

(t)                
the sale transfer or other disposition of “non-core” assets acquired pursuant to an Investment or acquisition
permitted under this Indenture; provided that

 

    	3

    	 

    

such assets
are sold, transferred or otherwise disposed of within six months after the consummation of such acquisition or Investment.

 

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

 

“Broker-Dealer”
means any broker or dealer registered with the SEC under the Exchange Act.

 

“Business
Day” means each day which is not a Legal Holiday.

 

“Capital Stock”
means:

 

(1)          
in the case of a corporation, corporate stock or shares in the capital of such corporation;

 

(2)          
in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents
(however designated) of corporate stock;

 

(3)          
in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited);
and

 

(4)          
any other interest or participation that confers on a Person the right to receive a share of the profits and losses of,
or distributions of assets of, the issuing Person.

 

“Capitalized
Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability in respect
of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding
the footnotes thereto) prepared in accordance with GAAP.

 

“Cash Equivalents”
means:

 

(1)          
United States dollars, pounds sterling, Canadian dollars or euros;

 

(2)          
securities issued or directly and fully and unconditionally guaranteed or insured by the U.S. government or any agency
or instrumentality thereof the securities of which are unconditionally guaranteed as a full faith and credit obligation of such
government with maturities of 24 months or less from the date of acquisition;

 

(3)          
certificates of deposit, time deposits and dollar time deposits with maturities of one year or less from the date of acquisition,
bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case with any commercial
bank having capital and surplus of not less than $500.0 million in the case of U.S. banks and $100.0 million (or the U.S. dollar
equivalent as of the date of determination) in the case of non-U.S. banks;

 

(4)          
repurchase obligations for underlying securities of the types described in clauses (2) and (3) above entered into
with any financial institution meeting the qualifications specified in clause (3) above;

 

(5)          
commercial paper rated at least P-1 by Moody’s or at least A-1 by S&P and in each case maturing within 24 months
after the date of creation thereof;

 

(6)          
marketable short-term money market and similar securities having a rating of at least P-2 or A-2 from either Moody’s
or S&P, respectively (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent
rating from another Rating Agency) and in each case maturing within 24 months after the date of creation thereof;

 

    	4

    	 

    

(7)          
investment funds investing 90% of their assets in securities of the types described in clauses (1) through (6) above
and (8) through (10) below;

 

(8)          
readily marketable direct obligations issued by any state, commonwealth or territory of the United States or any political
subdivision or taxing authority thereof having an Investment Grade Rating from either Moody’s or S&P with maturities
of 24 months or less from the date of acquisition;

 

(9)          
Investments with average maturities of 24 months or less from the date of acquisition in money market funds rated AAA- (or
the equivalent thereof) or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody’s; and

 

(10)   
    solely with respect to any Restricted Subsidiary that is a Foreign Subsidiary, investments of
comparable tenor and credit quality to those described in the foregoing clauses (2) through (9) customarily
utilized in countries in which such Foreign Subsidiary operates for short term cash management purposes.

 

Notwithstanding the
foregoing, Cash Equivalents shall include amounts denominated in currencies other than those set forth in clause (1) above, provided
that such amounts are converted into any currency listed in clauses (1) as promptly as practicable and in any event within ten
Business Days following the receipt of such amounts.

 

“Certificate
of Exchange” means a certificate substantially in the form of Exhibit C hereto.

 

“Certificate
of Transfer” means a certificate substantially in the form of Exhibit B hereto.

 

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

 

(1)          
the sale, lease or transfer, in one or a series of related transactions, of all or substantially all of the assets of the
Issuer and its Subsidiaries, taken as a whole, to any Person other than a Restricted Subsidiary; or

 

(2)          
the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2)
of the Exchange Act or any successor provision), including any group acting for the purpose of acquiring, holding or disposing
of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act or any successor provision), other than a Permitted
Holder, in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination
or purchase, of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision) of a
majority or more of the total voting power of the Voting Stock of the Issuer.

 

For purposes of this
definition, any direct or indirect holding company of the Issuer shall not itself be considered a “Person” or
“group” for purposes of clause (2) above; provided that no “Person” or “group”
beneficially owns, directly or indirectly, more than a majority of the total voting power of the Voting Stock of such holding company.

 

“Clearstream”
means Clearstream Banking, Société Anonyme.

 

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

 

“Consolidated
Depreciation and Amortization Expense” means, with respect to any Person, for any period, the total amount of depreciation
and amortization expense, including amortization or write-off of (i) intangibles (including goodwill) and non-cash organization
costs, (ii) deferred financing fees or costs and (iii) capitalized expenditures, customer acquisition costs and incentive
payments, conversion

 

    	5

    	 

    

costs and contract
acquisition costs, the amortization of original issue discount resulting from the issuance of Indebtedness at less than par and
amortization of favorable or unfavorable lease assets or liabilities, of such Person and its Restricted Subsidiaries for such period
on a consolidated basis and otherwise determined in accordance with GAAP and any write down of assets or asset value carried on
the balance sheet.

 

“Consolidated
Indebtedness” means, as of any date of determination, the sum, without duplication, of (1) the total amount of Indebtedness
of the Issuer and its Restricted Subsidiaries (excluding Hedging Obligations), plus (2) the aggregate liquidation value of
all Disqualified Stock of the Issuer and the Guarantors and all Preferred Stock of the Restricted Subsidiaries that are not Guarantors,
in each case, determined on a consolidated basis in accordance with GAAP.

 

“Consolidated
Interest Expense” means, with respect to any Person for any period, without duplication, the sum of:

 

(1)          
consolidated interest expense of such Person and its Restricted Subsidiaries for such period, to the extent such expense
was deducted (and not added back) in computing Consolidated Net Income (including (a) amortization of original issue discount
resulting from the issuance of Indebtedness at less than par, (b) all commissions, discounts and other fees and charges owed
with respect to letters of credit or bankers acceptances, (c) non-cash interest expense (but excluding any non-cash interest
expense attributable to the movement in the mark to market valuation of Hedging Obligations or other derivative instruments pursuant
to GAAP), (d) the interest component of Capitalized Lease Obligations, and (e) net payments, if any, pursuant to interest
rate Hedging Obligations with respect to Indebtedness, and excluding (x) amortization of deferred financing fees, debt issuance
costs, commissions, fees and expenses and (y) any expensing of bridge, commitment and other financing fees; plus

 

(2)          
consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period, whether paid or accrued;
less

 

(3)          
interest income of such Person and its Restricted Subsidiaries for such period.

 

For purposes of this
definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by the
Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP.

 

“Consolidated
Net Income” means, with respect to any Person for any period, the net income (loss) of such Person and its Restricted
Subsidiaries for such period determined on a consolidated basis on the basis of GAAP; provided that there will not be included
in such Consolidated Net Income:

 

(1)          
any net income (loss) of any Person if such Person is not a Restricted Subsidiary, except that any equity in the net income
of any such Person for such period will be included in such Consolidated Net Income up to the aggregate amount of cash or Cash
Equivalents actually distributed or that (as reasonably determined by an Officer of the Issuer) could have been distributed by
such Person during such period to the Issuer or a Restricted Subsidiary as a dividend or other distribution or return on investment
(subject, in the case of a dividend or other distribution or return on investment to a Restricted Subsidiary, to the limitations
contained in clause (2) below);

 

(2)         
solely for the purpose of determining the amount available for Restricted Payments under clause (C)(1) of Section 4.07(a),
any net income (loss) of any Restricted Subsidiary (other than any Guarantor) if such Subsidiary is subject to restrictions, directly
or indirectly, on the payment of dividends or the making of distributions by such Restricted

 

    	6

    	 

    

Subsidiary, directly
or indirectly, to the Issuer or a Guarantor by operation of the terms of such Restricted Subsidiary’s charter or any agreement,
instrument, judgment, decree, order, statute or governmental rule or regulation applicable to such Restricted Subsidiary or its
shareholders (other than (a) restrictions that have been waived or otherwise released, (b) restrictions pursuant to the
New Senior Secured Credit Facilities, the Notes or this Indenture, and (c) restrictions specified in clause (1) of Section
4.08(b) with respect to the New Senior Secured Credit Facilities or the Notes), except that the Issuer’s equity in the
net income of any such Restricted Subsidiary for such period will be included in such Consolidated Net Income up to the aggregate
amount of cash or Cash Equivalents actually distributed or that could have been distributed by such Restricted Subsidiary during
such period to the Issuer or another Restricted Subsidiary as a dividend or other distribution (subject, in the case of a dividend
to another Restricted Subsidiary, to the limitation contained in this clause);

 

(3)          
any net gain (or loss) realized upon the sale or other disposition of any asset or abandoned, discontinued or disposed operations
of the Issuer or any Restricted Subsidiaries (including pursuant to any Sale and Leaseback Transaction which is not sold or otherwise
disposed of in the ordinary course of business);

 

(4)          
any extraordinary, exceptional, unusual or nonrecurring gain, loss, charge or expense or any charges, expenses or reserves
in respect of any restructuring, redundancy or severance expense, including any accruals and payments for amounts payable under
executive employment agreements outside of the ordinary course of business;

 

(5)          
the cumulative effect of a change in accounting principles;

 

(6)          
any (i) non-cash compensation charge or expense arising from any stock option or employee benefit plans or any grant
of stock, stock options or other equity based awards and any non-cash deemed finance charges in respect of any pension liabilities
or other provisions or on the re-valuation of any benefit plan obligation and (ii) income (loss) attributable to deferred
compensation plans or trusts;

 

(7)          
all deferred financing costs written off or amortized and premiums paid or other expenses incurred directly in connection
with any early extinguishment of Indebtedness and any net gain (loss) from any write-off or forgiveness of Indebtedness;

 

(8)          
any unrealized gains or losses in respect of any Hedging Obligations or any ineffectiveness recognized in earnings related
to qualifying hedge transactions or the fair value of changes therein recognized in earnings for derivatives that do not qualify
as hedge transactions, in each case, in respect of any Hedging Obligations;

 

(9)          
any unrealized foreign currency transaction gains or losses in respect of obligations of any Person denominated in a currency
other than the functional currency of such Person and any unrealized foreign exchange gains or losses relating to translation of
assets and liabilities denominated in foreign currencies;

 

(10)       
any unrealized foreign currency translation or transaction gains or losses in respect of Indebtedness or other obligations
of the Issuer or any Restricted Subsidiary owing to the Issuer or any Restricted Subsidiary;

 

(11)       
any purchase accounting effects including, but not limited to, adjustments to inventory, property and equipment, software
and other intangible assets, step ups with respect to re-valuing assets and liabilities and deferred revenue in component amounts
required or permitted by GAAP and related authoritative pronouncements (including the effects of such adjustments

 

    	7

    	 

    

pushed down to
the Issuer and the Restricted Subsidiaries), as a result of any consummated acquisition, or the amortization or write-off of any
amounts thereof (including any write-off of in process research and development);

 

(12)       
any goodwill or other asset impairment charge or write-off or write-down;

 

(13)        
any after-tax effect of income (loss) from the early extinguishment or cancellation of Indebtedness or any Hedging Obligations
or other derivative instruments;

 

(14)        
accruals and reserves that are established or adjusted within 12 months after the Issue Date that are so required to be
established as a result of the Transactions (or adjusted after the establishment thereof) in accordance with GAAP;

 

(15)        
any net unrealized gains and losses resulting from Hedging Obligations or embedded derivatives that require similar accounting
treatment and the application of Accounting Standards Codification Topic 815 and related pronouncements;

 

(16)        
cash and non-cash charges, paid or accrued, and gains resulting from the application of Financial Accounting Standards No. 141R
(Accounting Standards Codification Topic 805) (including with respect to earn-outs incurred by the Issuer or any of its Restricted
Subsidiaries); and

 

(17)        
the amount of any expense to the extent a corresponding amount is received in cash by the Issuer and the Restricted Subsidiaries
from a Person other than the Issuer or any Restricted Subsidiaries; provided that such payment has not been included
in determining Consolidated Net Income (it being understood that if the amounts received in cash under any such agreement in any
period exceed the amount of expense in respect of such period, such excess amounts received may be carried forward and applied
against expense in future periods).

 

In addition, to the
extent not already included in the Consolidated Net Income of such Person and its Restricted Subsidiaries, notwithstanding anything
to the contrary in the foregoing, Consolidated Net Income shall exclude (i) any expenses and charges that are reimbursed by
indemnification or other reimbursement provisions, or so long as the Issuer has made a determination that there exists reasonable
evidence that such amount will in fact be indemnified or reimbursed (and such amount is in fact reimbursed within 365 days of the
date of such charge or payment (with a deduction for any amount so added back to the extent not so reimbursed within such 365 days)),
in connection with any investment or any sale, conveyance, transfer or other disposition of assets permitted hereunder, (ii) to
the extent covered by insurance and actually reimbursed, or, so long as the Issuer has made a determination that there exists reasonable
evidence that such amount will in fact be reimbursed by the insurer and such amount is (A) not denied by the applicable carrier
in writing within 180 days and (B) in fact reimbursed within 365 days of the date of such evidence (with a deduction for any
amount so added back to the extent not so reimbursed within 365 days), expenses with respect to liability or casualty events or
business interruption and (iii) any expenses and charges to the extent paid for, or so long as the Issuer has made a determination
that there exists reasonable evidence that such amount will in fact be reimbursed by (and such amount is in fact reimbursed within
365 days of the date of such payment (with a deduction for any amount so added back to the extent not so reimbursed within 365
days)), any third party other than such Person or any of its Restricted Subsidiaries. Notwithstanding the foregoing, for the purpose
of Section 4.07 only (other than clause (C)(5) of Section 4.07(a)), there shall be excluded from Consolidated
Net Income any income arising from any sale or other disposition of Restricted Investments made by the Issuer and its Restricted
Subsidiaries, any repurchases and redemptions of Restricted Investments from the Issuer and its Restricted Subsidiaries, any repayments
of loans and advances which constitute Restricted Investments by the Issuer or any of its Restricted Subsidiaries, any sale of
the stock of an Unrestricted Subsidiary or

 

    	8

    	 

    

any distribution or
dividend from an Unrestricted Subsidiary, in each case only to the extent such amounts increase the amount of Restricted Payments
permitted under clause (C)(5) of Section 4.07(a).

 

“Consolidated
Secured Debt Ratio” means, as of the date of determination, the ratio of (a) the Consolidated Indebtedness of the
Issuer and its Restricted Subsidiaries on such date that is secured by Liens, less cash and Cash Equivalents that would be stated
on the balance sheet of the Issuer and its Restricted Subsidiaries and held by the Issuer and its Restricted Subsidiaries as of
such date of determination, as determined in accordance with GAAP, to (b) EBITDA of the Issuer and its Restricted Subsidiaries
for the period of the most recently ended four fiscal quarters for which internal financial statements are available immediately
preceding the date on which the event for which such calculation is being made shall occur, in each case with such pro forma
adjustments to Consolidated Indebtedness, cash, Cash Equivalents and EBITDA as are appropriate and consistent with the pro forma
adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio.

 

“Consolidated
Total Leverage Ratio” means, as of any date of determination, the ratio of (a) the Consolidated Indebtedness of
the Issuer and its Restricted Subsidiaries on such date, less cash and Cash Equivalents that would be stated on the balance sheet
of the Issuer and its Restricted Subsidiaries and held by the Issuer and its Restricted Subsidiaries as of such date of determination,
as determined in accordance with GAAP, to (b) EBITDA of the Issuer and its Restricted Subsidiaries for the period of the most
recently ended four fiscal quarters for which internal financial statements are available immediately preceding the date on which
the event for which such calculation is being made shall occur, in each case, with such pro forma adjustments to Consolidated
Indebtedness, cash, Cash Equivalents and EBITDA as are appropriate and consistent with the pro forma adjustment provisions
set forth in the definition of Fixed Charge Coverage Ratio.

 

“Contingent
Obligations” means, with respect to any Person, any obligation of such Person guaranteeing any leases, dividends or other
obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”)
in any manner, whether directly or indirectly, including, without limitation, any obligation of such Person, whether or not contingent:

 

(1)          
to purchase any such primary obligation or any property constituting direct or indirect security therefor,

 

(2)          
to advance or supply funds:

 

(a)               
for the purchase or payment of any such primary obligation, or

 

(b)              
to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency
of the primary obligor, or

 

(3)          
to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation
of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof.

 

“Corporate
Trust Office of the Trustee” shall be at the address of the Trustee specified in Section 12.01 or such other
address as to which the Trustee may give notice to the Holders and the Issuer.

 

“Credit Facilities”
means, with respect to the Issuer or any of its Restricted Subsidiaries, one or more debt facilities, including the New Senior
Secured Credit Facilities, or other financing arrangements (including, without limitation, commercial paper facilities or indentures)
providing for revolving credit loans, term loans, letters of credit or other long-term indebtedness, including any notes, mortgages,
guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements,
modifications, extensions, renewals, restatements or refundings thereof and any indentures or credit facilities or commercial paper
facilities that replace, refund or refinance any part

 

    	9

    	 

    

of the loans, notes,
other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture
that increases the amount permitted to be borrowed thereunder or alters the maturity thereof (provided that such
increase in borrowings is permitted under Section 4.09) or adds Restricted Subsidiaries as additional borrowers or guarantors
thereunder and whether by the same or any other agent, lender or group of lenders.

 

“Custodian”
means the Trustee when serving as custodian for the Depositary with respect to the Global Notes, or any successor entity thereto.

 

“Default”
means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default.

 

“Definitive
Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance with Section
2.06(c), substantially in the form of Exhibit A hereto, except that such Note shall not bear the Global Note Legend and shall
not have the “Schedule of Exchanges of Interests in the Global Note” attached thereto.

 

“Depositary”
means, with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in Section 2.03
as the Depositary with respect to the Notes, and any and all successors thereto appointed as Depositary hereunder and having become
such pursuant to the applicable provision of this Indenture.

 

“Designated
Non-cash Consideration” means the fair market value (as determined in good faith by the Issuer) of non-cash consideration
received by the Issuer or any of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated
Non-cash Consideration pursuant to an Officer’s Certificate, setting forth the basis of such valuation, executed by the principal
financial officer of the Issuer, less the amount of cash or Cash Equivalents received in connection with a subsequent sale of or
collection on such Designated Non-cash Consideration.

 

“Disqualified
Stock” means, with respect to any Person, any Capital Stock of such Person which, by its terms, or by the terms of any
security into which it is convertible or for which it is putable or exchangeable, or upon the happening of any event, matures or
is mandatorily redeemable (other than solely as a result of a change of control or asset sale) for cash or in exchange for Indebtedness
pursuant to a sinking fund obligation or otherwise, or is redeemable or repurchasable for cash or in exchange of Indebtedness at
the option of the holder thereof (other than solely as a result of a change of control or asset sale), in whole or in part, in
each case prior to the date 91 days after the earlier of the maturity date of the Notes or the date the Notes are no longer outstanding;
provided that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible
or exchangeable or is so redeemable at the option of the holder thereof prior to such date shall be deemed to be Disqualified Stock;
provided, further, that, if such Capital Stock is issued to any plan for the benefit of employees of the Issuer or its Subsidiaries
or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required
to be repurchased by the Issuer or its Subsidiaries in order to satisfy applicable statutory or regulatory obligations.

 

“DTC”
means The Depository Trust Company or any successor securities clearing agency.

 

“EBITDA”
means, with respect to any Person for any period, the Consolidated Net Income of such Person for such period:

 

(1)          
increased (without duplication) by:

 

(a)               
provision for taxes based on income or profits or capital, including, without limitation, federal, state, provincial, local,
foreign, unitary, excise, property, franchise and similar taxes and foreign withholding and similar taxes (including any

 

    	10

    	 

    

penalties and
interest) of such Person paid or accrued during such period deducted (and not added back) in computing Consolidated Net Income;
plus

 

(b)              
Fixed Charges of such Person for such period (including (x) net losses on Hedging Obligations or other derivative instruments
entered into for the purpose of hedging interest rate risk and (y) costs of surety bonds in connection with financing activities,
in each case, to the extent included in Fixed Charges), together with items excluded from the definition of “Consolidated
Interest Expense” pursuant to clauses 1(x) and 1(y) thereof, to the extent the same were deducted (and not added back)
in calculating such Consolidated Net Income; plus

 

(c)               
Consolidated Depreciation and Amortization Expense of such Person for such period to the extent the same were deducted (and
not added back) in computing Consolidated Net Income; plus

 

(d)              
any fees, costs, expenses or charges related to the Transactions, (y) any extraordinary, non-recurring or unusual fees,
costs, expenses or charges (including any severance expenses, relocation expenses, expenses or charges relating to facilities closing
costs, acquisition integration costs, facilities opening costs, project start-up costs, signing, retention or completion bonuses,
systems establishment costs, conversion costs, excess pension charges, liability insurance costs and consulting fees) and (z) any
fees, costs, expenses or charges (other than Consolidated Depreciation and Amortization Expense) related to any actual, proposed
or contemplated issuance or registration (actual or proposed) of an Equity Offering, Equity Interests or any Investment, acquisition,
disposition, recapitalization or issuance, Restricted Payment, Permitted Tax Restructuring, repayment, bridge commitment or other
financing fees or the incurrence or registration (actual or proposed) of Indebtedness (including a refinancing thereof) (in each
case, whether or not consummated or successful), including (i) such fees, expenses or charges related to the offering of the
Notes, the New Senior Secured Credit Facilities, or any other Credit Facilities, and (ii) any amendment, waiver or other modification
of the Notes, the New Senior Secured Credit Facilities or any other Credit Facilities, any other Indebtedness or any Equity Offering,
in each case to the extent the same were deducted (and not added back) in computing Consolidated Net Income; plus

 

(e)               
the amount of any restructuring charge, reserve, integration cost or other business optimization expense or cost (including
charges directly related to implementation of operational changes or cost-savings initiatives), that is deducted (and not added
back) in such period in computing Consolidated Net Income, including, without limitation, those related to severance, retention,
signing bonuses, relocation, recruiting and other employee related costs, future lease commitments, costs related to the opening
and closure and/or consolidation of facilities, project startup costs and establishment costs, conversion costs and excess pension
charges and consulting fees; plus

 

(f)               
any other non-cash charges, write-downs, expenses, losses or items reducing Consolidated Net Income for such period including
any impairment charges or the impact of purchase accounting, or other items classified by the Issuer as special items; plus

 

(g)               
the amount of cost savings, operating expense reductions, other operating improvements and initiatives and synergies projected
by the Issuer in good faith to be reasonably anticipated to be realizable within 18 months of the date thereof (which will

 

    	11

    	 

    

be added to
EBITDA as so projected until fully realized and calculated on a pro forma basis as though such cost savings, operating expense
reductions, other operating improvements and initiatives and synergies had been realized on the first day of such period), net
of the amount of actual benefits realized during such period from such actions; provided that all steps have been
taken for realizing such cost savings and such cost savings are reasonably identifiable and factually supportable (as set forth
in an Officer’s Certificate); plus

 

(h)              
any costs or expense incurred by the Issuer or any Restricted Subsidiary pursuant to any management equity plan or stock
option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to
the extent that such cost or expenses are funded with cash proceeds contributed to the capital of the Issuer or net cash proceeds
of an issuance of Capital Stock (other than Disqualified Stock) of the Issuer solely to the extent that such net cash proceeds
are excluded from the calculation set forth under clause (3) of Section 4.07(a); plus

 

(i)                
cash receipts (or any netting arrangements resulting in reduced cash expenditures) not representing EBITDA or Consolidated
Net Income in any period to the extent non-cash gains relating to such income were deducted in the calculation of EBITDA pursuant
to clause (2) below for any previous period and not added back; plus

 

(j)                
any net loss included in the consolidated financial statements due to the application of Financial Accounting Standards
No. 160 “Non-controlling Interests in Consolidated Financial Statements” (“FAS 160”) (Accounting
Standards Codification Topic 810); plus

 

(k)              
realized foreign exchange losses resulting from the impact of foreign currency changes on the valuation of assets or liabilities
on the balance sheet of the Issuer and its Restricted Subsidiaries; plus

 

(l)                
net realized losses from Hedging Obligations or embedded derivatives that require similar accounting treatment and the application
of Accounting Standard Codification Topic 815 and related pronouncements; plus

 

(m)            
the amount of any minority interest expense consisting of Restricted Subsidiary income attributable to minority equity interests
of third parties in any non-wholly owned Restricted Subsidiary deducted in calculating Consolidated Net Income (and not added back
in such period to Consolidated Net Income); plus

 

(n)              
costs related to the implementation of operational and reporting systems and technology initiatives; plus

 

(o)              
amounts paid or reserved in connection with earn-out obligations in connection with any acquisition of a business or Person;
plus

 

(p)              
commissions, discounts and other fees and charges owed with respect to letters of credit or bankers’ acceptances;
plus

 

(q)              
proceeds from any business interruption insurance (in an amount representing the earning for the applicable period that
such proceeds are intended to replace) to the extent not already included in Consolidated Net Income; plus

 

(r)                
rent and other amounts accrued or expensed under any synthetic lease, tax retention operating lease, off-balance sheet loan
or similar off-balance sheet financing

 

    	12

    	 

    

arrangement
whereby the arrangement is considered borrowed money indebtedness for tax purposes but is classified as an operating lease or does
not otherwise appear on a balance sheet under GAAP; and

 

(2)          
decreased (without duplication) by:

 

(a)               
non-cash gains increasing Consolidated Net Income of such Person for such period, excluding any non-cash gains to the extent
they represent the reversal of an accrual or reserve for a potential cash item that reduced EBITDA in any prior period and any
non-cash gains with respect to cash actually received in a prior period so long as such cash did not increase EBITDA in such prior
period; plus

 

(b)              
realized foreign exchange income or gains resulting from the impact of foreign currency changes on the valuation of assets
or liabilities on the balance sheet of the Issuer and its Restricted Subsidiaries; plus

 

(c)               
any net realized income or gains from Hedging Obligations or embedded derivatives that require similar accounting treatment
and the application of Accounting Standard Codification Topic 815 and related pronouncements; plus

 

(d)              
any net income included in the consolidated financial statements due to the application of FAS 160 (Accounting Standards
Codification Topic 810); plus

 

(e)               
all cash payments made during such period to the extent made on account of non-cash reserves and other non-cash charges
added back to Consolidated Net Income pursuant to clause (f) above in a previous period (it being understood that this clause
(2)(e) shall not be utilized in reversing any non-cash reserve or charge added to Consolidated Net Income); plus

 

(f)               
the amount of any minority interest income consisting of Restricted Subsidiary loss attributable to minority equity interests
of third parties in any non-wholly owned Restricted Subsidiary added to Consolidated Net Income (and not deducted in such period
from Consolidated Net Income); and

 

(3)          
increased or decreased (without duplication) by, as applicable, any adjustments resulting from the application of Accounting
Standards Codification Topic 460 or any comparable regulation.

 

“EMU”
means economic and monetary union as contemplated in the Treaty on European Union.

 

“Equity Interests”
means Capital Stock and all warrants, options or other rights to acquire Capital Stock, but excluding any debt security that is
convertible into, or exchangeable for, Capital Stock.

 

“Equity Offering”
means any public or private sale of common stock or Preferred Stock of the Issuer (excluding Disqualified Stock), other than:

 

(1)          
public offerings with respect to any such Person’s common stock registered on Form S-8;

 

(2)          
issuances to any Subsidiary of the Issuer; and

 

(3)          
Refunding Capital Stock.

 

“euro”
means the single currency of participating member states of the EMU.

 

    	13

    	 

    

“Euroclear”
means Euroclear S.A./N.V., as operator of the Euroclear system.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

 

“Exchange
Notes” means the Notes of the Issuer issued pursuant to this Indenture in exchange for, and in an aggregate principal
amount equal to, the Initial Notes or any Additional Notes in compliance with the terms of a Registration Rights Agreement and
containing terms substantially identical to the Initial Notes or any Additional Notes (except that (i) such Exchange Notes
will be registered under the Securities Act and will not be subject to transfer restrictions or bear the Private Placement Legend
or a restricted CUSIP number, and (ii) the provisions relating to Additional Interest will be eliminated).

 

“Exchange
Offer” means an offer by the Issuer to the Holders of the Initial Notes or any Additional Notes to exchange outstanding
Notes for Exchange Notes, as provided for in a Registration Rights Agreement.

 

“Exchange
Offer Registration Statement” means the Exchange Offer Registration Statement as defined in a Registration Rights Agreement.

 

“Fixed Charge
Coverage Ratio” means, with respect to any Person for any period, the ratio of EBITDA of such Person for such period
to the Fixed Charges of such Person for such period. In the event that the Issuer or any of its Restricted Subsidiaries incurs,
assumes, guarantees, redeems, retires or extinguishes any Indebtedness (other than, for purposes of calculating EBITDA only, Indebtedness
incurred under any revolving credit facility unless such Indebtedness has been permanently repaid and has not been replaced) or
issues or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Fixed Charge
Coverage Ratio is being calculated but prior to or simultaneously with the event for which the calculation of the Fixed Charge
Coverage Ratio is made (the “Fixed Charge Coverage Ratio Calculation Date”), then the Fixed Charge Coverage
Ratio shall be calculated giving pro forma effect to such incurrence, assumption, guarantee, redemption, retirement or extinguishment
of Indebtedness, or such issuance or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning
of the applicable four-quarter period.

 

For purposes of making
the computation referred to above, Investments, acquisitions, dispositions, mergers, amalgamations and consolidations (as determined
in accordance with GAAP), in each case with respect to a business, a company, a segment, an operating division or unit or line
of business that the Issuer or any of its Restricted Subsidiaries has determined to make and/or made during the four-quarter reference
period or subsequent to such reference period and on or prior to or simultaneously with the Fixed Charge Coverage Ratio Calculation
Date shall be calculated on a pro forma basis in accordance with GAAP (except as set forth in the following paragraph) assuming
that all such Investments, acquisitions, dispositions, mergers, amalgamations and consolidations (and the change in any associated
fixed charge obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference
period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or
into the Issuer or any of its Restricted Subsidiaries since the beginning of such period shall have made any Investment, acquisition,
disposition, merger, amalgamation and consolidation, in each case with respect to a business, a company, a segment, an operating
division or unit or line of business that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage
Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition,
merger and consolidation had occurred at the beginning of the applicable four-quarter period.

 

For purposes of this
definition, whenever pro forma effect is to be given to a transaction, the pro forma calculations shall be made in
good faith by a responsible financial or accounting officer of the

 

    	14

    	 

    

Issuer and set forth
in an Officer’s Certificate (and may include, for the avoidance of doubt and without duplication, operating expense reductions
and other operating improvements, cost savings or synergies reasonably anticipated to be realizable within 18 months after the
date of any such Investments, acquisitions, dispositions, mergers, amalgamations and consolidations (including, to the extent applicable,
from the Transactions), to the extent such adjustments, without duplication, continue to be applicable to such four-quarter period).
If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness
shall be calculated as if the rate in effect on the Fixed Charge Coverage Ratio Calculation Date had been the applicable rate for
the entire period (taking into account any Hedging Obligations applicable to such Indebtedness). Interest on a Capitalized Lease
Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer
of the Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. For purposes of
making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma
basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness
that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank
offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such
optional rate chosen as the Issuer may designate.

 

For the purposes of
this definition, any amount in a currency other than U.S. dollars will be converted to U.S. dollars based on the average
exchange rate for such currency for the most recent twelve month period immediately prior to the date of determination determined
in a manner consistent with that used in calculating EBITDA for the applicable period.

 

“Fixed Charges”
means, with respect to any Person for any period, the sum, without duplication, of:

 

(1)          
Consolidated Interest Expense of such Person for such period; plus

 

(2)          
all cash dividends or other distributions paid (excluding items eliminated in consolidation) on any series of Preferred
Stock during such period; plus

 

(3)          
all cash dividends or other distributions paid (excluding items eliminated in consolidation) on any series of Disqualified
Stock during such period.

 

“Foreign Subsidiary”
means any Restricted Subsidiary that is not organized or existing under the laws of the United States, any state thereof, the District
of Columbia, or any territory thereof and any Restricted Subsidiary of such Foreign Subsidiary.

 

“GAAP”
means generally accepted accounting principles in the United States which are in effect on the Issue Date, except with respect
to any reports or financial information required to be delivered pursuant to Section 4.03, which shall be prepared in accordance
with GAAP as in effect on the date thereof.

 

“Global Note
Legend” means the legend set forth in Section 2.06(g)(2), which is required to be placed on all Global Notes issued
under this Indenture.

 

“Global Notes”
means a Note in global form that evidences all or part of the Notes and is registered in the name of the Depositary for the Notes
or a nominee thereof, and includes, individually and collectively, each of the Restricted Global Notes and the Unrestricted Global
Notes, substantially in the form of Exhibit A hereto, issued in accordance with Section 2.01, 2.06(b) or 2.06(d).

 

    	15

    	 

    

“Government
Securities” means securities that are:

 

(1)          
direct obligations of, or obligations guaranteed by, the United States of America for the timely payment of which its full
faith and credit is pledged; or

 

(2)          
obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America
the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America,

 

which, in either case, are not callable
or redeemable at the option of the issuers thereof, and shall also include a depository receipt issued by a bank (as defined in
Section 3(a)(2) of the Securities Act), as custodian with respect to any such Government Securities or a specific payment
of principal of or interest on any such Government Securities held by such custodian for the account of the holder of such depository
receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the
amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government
Securities or the specific payment of principal of or interest on the Government Securities evidenced by such depository receipt.

 

“guarantee”
means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of business), direct
or indirect, in any manner (including letters of credit and reimbursement agreements in respect thereof), of all or any part of
any Indebtedness or other obligations.

 

“Guarantee”
means the guarantee by any Guarantor of the Issuer’s Obligations under this Indenture.

 

“Guarantor”
means each Restricted Subsidiary that Guarantees the Notes in accordance with the terms of this Indenture.

 

“Hedging Obligations”
means, with respect to any Person, the obligations of such Person under any interest rate swap agreement, interest rate cap agreement,
interest rate collar agreement, commodity swap agreement, commodity cap agreement, commodity collar agreement, foreign exchange
contract, currency swap agreement or similar agreement providing for the transfer or mitigation of interest rate, commodity or
currency risks either generally or under specific contingencies.

 

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

 

“IAI Global
Note” means a Global Note resold to Institutional Accredited Investors bearing the Private Placement Legend.

 

“Indebtedness”
means, with respect to any Person, without duplication:

 

(1)          
the principal and premium of any indebtedness of such Person, whether or not contingent:

 

(a)               
in respect of borrowed money;

 

(b)              
evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without
duplication, reimbursement agreements in respect thereof);

 

(c)               
representing the balance deferred and unpaid of the purchase price of any property (including Capitalized Lease Obligations),
except (i) any such balance that constitutes a trade payable or similar obligation to a trade creditor, in each case accrued
in the ordinary course of business and (ii) liabilities accrued in the ordinary course of

 

    	16

    	 

    

business,
which purchase price is due more than twelve months after the date of placing the property in service or taking delivery
and title thereto; or

 

(d)              
representing net obligations under any Hedging Obligations;

 

if and to the extent
that any of the foregoing Indebtedness (other than letters of credit and Hedging Obligations) would appear as a liability upon
a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP;

 

(2)          
to the extent not otherwise included, any obligation by such Person to be liable for, or to pay, as obligor, guarantor or
otherwise, on the obligations of the type referred to in clause (1) of a third Person (whether or not such items would appear
upon the balance sheet of such obligor or guarantor), other than by endorsement of negotiable instruments for collection in the
ordinary course of business; and

 

(3)          
to the extent not otherwise included, the obligations of the type referred to in clause (1) of a third Person secured
by a Lien on any asset owned by such first Person, whether or not such Indebtedness is assumed by such first Person.

 

The term “Indebtedness”
shall not include any lease, concession or license of property (or guarantee thereof) which would be considered an operating lease
under GAAP, purchase price holdbacks in respect of a portion of the purchase price of an asset to satisfy warranty or other unperformed
obligations of the respective seller, obligations in respect of cash management services, any prepayments of deposits received
from clients or customers in the ordinary course of business or consistent with past practice, deferred or prepaid revenues or
obligations under any license, permit or other approval (or guarantees given in respect of such obligations) incurred prior to
the Issue Date or in the ordinary course of business or consistent with past practice.

 

The amount of Indebtedness
of any Person at any time in the case of a revolving credit or similar facility shall be the total amount of funds borrowed and
then outstanding. The amount of any Indebtedness outstanding as of any date shall be (a) the accreted value thereof in the
case of any Indebtedness issued with original issue discount and (b) the principal amount of Indebtedness, or liquidation
preference thereof, in the case of any other Indebtedness.

 

Notwithstanding the
above provisions, in no event shall the following constitute Indebtedness: (a) Contingent Obligations incurred in the ordinary
course of business or consistent with past practice or (b) for the avoidance of doubt, any obligations in respect of workers’
compensation claims, early retirement or termination obligations, pension fund obligations or contributions or similar claims,
obligations or contributions or social security or wage taxes.

 

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

 

“Independent
Financial Advisor” means an accounting, appraisal, investment banking firm or consultant to Persons engaged in Similar
Businesses of nationally recognized standing that is, in the good faith judgment of the Issuer, qualified to perform the task for
which it has been engaged.

 

“Indirect
Participant” means a Person who holds a beneficial interest in a Global Note through a Participant.

 

“Initial Notes”
has the meaning assigned to such term in the recitals hereto.

 

“Institutional
Accredited Investor” means an institution that is an “accredited investor” within the meaning of Rule 501(a)(1),
(2), (3) or (7) under the Securities Act.

 

    	17

    	 

    

“Institutional
Accredited Investor Certificate” means a certificate substantially in the form of Annex B to the Certificate of
Transfer.

 

“Interest
Payment Date” means the January 15 and July 15 of each year to stated maturity.

 

“Investment
Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent)
by S&P, or, if the applicable securities are not then rated by Moody’s or S&P for reasons outside the Issuer’s
control, an equivalent rating by any other Rating Agency.

 

“Investments”
means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the form of loans
(including guarantees), advances or capital contributions (excluding accounts receivable, trade credit, deposits, advances to customers,
commission, travel and similar advances to officers and employees, in each case made in the ordinary course of business), purchases
or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments
that are required by GAAP to be classified on the balance sheet (excluding the footnotes) of such Person in the same manner as
the other investments included in this definition to the extent such transactions involve the transfer of cash or other property.
For purposes of the definition of “Unrestricted Subsidiary” and Section 4.07:

 

(1)          
“Investments” shall include the portion (proportionate to the Issuer’s direct or indirect equity
interest in such Subsidiary) of the fair market value (as determined in good faith by the Issuer) of the net assets of a Subsidiary
of the Issuer at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided that upon a redesignation
of such Subsidiary as a Restricted Subsidiary, the Issuer or applicable Restricted Subsidiary shall be deemed to continue to have
a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to:

 

(a)               
the Issuer’s direct or indirect “Investment” in such Subsidiary at the time of such redesignation;
less

 

(b)              
the portion (proportionate to the Issuer’s direct or indirect equity interest in such Subsidiary) of the fair market
value of the net assets of such Subsidiary at the time of such redesignation; and

 

(2)          
any property transferred to or from an Unrestricted Subsidiary shall be valued at its fair market value at the time of such
transfer, as determined in good faith by the Issuer.

 

“Issue Date”
means July 8, 2015.

 

“Issuer”
means SS&C Technologies Holdings, Inc.; provided that when used in the context of determining the fair market value
of an asset or liability under this Indenture, “Issuer” will mean the board of directors of the Issuer when
the fair market value is equal to or in excess of $150.0 million.

 

“Issuer Order”
means a written request or order signed on behalf of the Issuer by an Officer of the Issuer, who must be the principal executive
officer, the principal financial officer, the treasurer or the principal accounting officer of the Issuer, and delivered to the
Trustee.

 

“Legal Holiday”
means a Saturday, a Sunday or a day on which commercial banking institutions are not required to be open in the State of New York
or in the place of payment.

 

“Letter of
Transmittal” means the letter of transmittal to be prepared by the Issuer and sent to all Holders of the Notes for use
by such Holders in connection with an Exchange Offer.

 

    	18

    	 

    

“Lien”
means, with respect to any asset, any mortgage, lien (statutory or otherwise), pledge, hypothecation, charge, security interest,
preference, priority or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected
under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option
or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under
the Uniform Commercial Code (or equivalent statutes) of any jurisdiction; provided that in no event shall an operating lease
be deemed to constitute a Lien.

 

“Limited Condition
Acquisition” means any acquisition, including by way of merger, amalgamation or consolidation, by the Issuer or one or
more of its Restricted Subsidiaries, which the Issuer or such Restricted Subsidiaries are contractually committed to consummate
and the consummation of which is not conditioned upon the availability of, or on obtaining, third party financing; provided
that the Consolidated Net Income (and any other financial term derived therefrom), other than for purposes of calculating any ratios
in connection with the Limited Condition Acquisition, shall not include any Consolidated Net Income of or attributable to the target
company or assets associated with any such Limited Condition Acquisition unless and until the closing of such Limited Condition
Acquisition shall have actually occurred.

 

“Material
Capital Markets Indebtedness” means any Indebtedness consisting of bonds, debentures, notes or other similar debt securities
issued in (a) a public offering registered under the Securities Act, (b) a private placement to institutional investors that is
resold in accordance with Rule 144A or Regulation S of the Securities Act, whether or not it includes registration rights
entitling the holders of such debt securities to registration thereof with the SEC or (c) a placement to institutional investors,
in each case in aggregate principal amount in excess of $50.0 million. The term “Material Capital Markets Indebtedness”
shall not include any Indebtedness under commercial bank facilities or similar Indebtedness, Capitalized Lease Obligation or recourse
transfer of any financial asset or any other type of Indebtedness incurred in a manner not customarily viewed as a “securities
offering.”

 

“Moody’s”
means Moody’s Investors Service, Inc. and any successor to its rating agency business.

 

“Net Proceeds”
means the aggregate cash proceeds and the fair market value of any Cash Equivalents received by the Issuer or any of its Restricted
Subsidiaries in respect of any Asset Sale, including any cash received upon the sale or other disposition of any Designated Non-cash
Consideration received in any Asset Sale, net of the direct costs relating to such Asset Sale and the sale or disposition of such
Designated Non-cash Consideration, including legal, accounting and investment banking fees, and brokerage and sales commissions,
any relocation expenses incurred as a result thereof, taxes paid or payable as a result thereof (including in connection with any
repatriation of funds and after taking into account any available tax credits or deductions and any tax sharing arrangements),
amounts required to be applied to the repayment of principal, premium, if any, and interest on Indebtedness (other than Subordinated
Indebtedness) required (other than required by clause (1) of Section 4.10(b)) to be paid as a result of such transaction,
any costs associated with unwinding any related Hedging Obligations in connection with such transaction and any deduction of appropriate
amounts to be provided by the Issuer or any of its Restricted Subsidiaries as a reserve in accordance with GAAP against any liabilities
associated with the asset disposed of in such transaction and retained by the Issuer or any of its Restricted Subsidiaries after
such sale or other disposition thereof, including pension and other post-employment benefit liabilities and liabilities related
to environmental matters or against any indemnification obligations associated with such transaction.

 

“New Senior
Secured Credit Facilities” means the credit facilities, consisting of a revolving facility, a term A-1 facility, a term
A-2 facility, a term B-1 facility and a term B-2 facility (the term A-1 facility, the term A-2 facility and the term B-2 facility,
together, the “Foreign Credit Facilities”), under

 

    	19

    	 

    

the credit agreement
to be entered into as of the Issue Date by and among the Issuer, the other borrowers, if any, party thereto, the Guarantors, the
lenders party thereto in their capacities as lenders thereunder and Deutsche Bank AG New York Branch, as Administrative Agent,
including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments,
supplements, modifications, extensions, renewals, restatements, refundings or refinancings thereof and any indentures or credit
facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund or refinance
any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing
facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such
increase in borrowings is permitted under Section 4.09).

 

“Non-U.S. Person”
means a Person who is not a U.S. Person.

 

“Notes”
has the meaning assigned to such term in the recitals hereto and more particularly means any Note authenticated and delivered under
this Indenture. For all purposes of this Indenture, the term “Notes” shall also include any Additional Notes
and any Exchange Notes that may be issued hereunder or under a supplemental indenture. All Notes shall be treated as a single class
for all purposes under this Indenture.

 

“Obligations”
means any principal (including any accretion), interest (including any interest accruing subsequent to the filing of a petition
in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether
or not such interest is an allowed claim under applicable state, federal or foreign law), penalties, fees, indemnifications, reimbursements
(including reimbursement obligations with respect to letters of credit and banker’s acceptances), damages and other liabilities,
and guarantees of payment of such principal (including any accretion), interest, penalties, fees, indemnifications, reimbursements,
damages and other liabilities, payable under the documentation governing any Indebtedness.

 

“Offering
Memorandum” means the offering memorandum, dated June 29, 2015, relating to the sale of the Initial Notes.

 

“Officer”
means the Chairman of the Board, the Chief Executive Officer, the President, any Executive Vice President, Senior Vice President
or Vice President, the Treasurer, Assistant Treasurer, the Secretary or the Assistant Secretary of the Issuer.

 

“Officer’s
Certificate” means a certificate signed on behalf of the Issuer by an Officer of the Issuer, who must be the principal
executive officer, the principal financial officer, the treasurer, the principal accounting officer or Secretary of the Issuer,
that meets the requirements set forth in this Indenture.

 

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

 

“Participant”
means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the Depositary, Euroclear or
Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream).

 

“Permitted
Asset Swap” means the concurrent purchase and sale or exchange of Related Business Assets or a combination of Related
Business Assets and cash or Cash Equivalents between the Issuer or any of its Restricted Subsidiaries and another Person; provided,
that any cash or Cash Equivalents received must be applied in accordance with Section 4.10.

 

“Permitted
Holder” means (i) William C. Stone and his spouse and the members of his immediate family and (ii) any estate,
trust, corporation, partnership or other entity, the beneficiaries, stockholders,

 

    	20

    	 

    

partners, owners or
Persons holding a controlling interest of which consist solely of one or more Persons referred to in the immediately preceding
clause (i).

 

“Permitted
Investments” means:

 

(1)          
any Investment in the Issuer or any of its Restricted Subsidiaries;

 

(2)          
any Investment in cash and Cash Equivalents;

 

(3)          
any Investment by the Issuer or any of its Restricted Subsidiaries in a Person that is engaged in a Similar Business if
as a result of such Investment:

 

(a)               
such Person becomes a Restricted Subsidiary; or

 

(b)              
such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or into,
or transfers or conveys substantially all of its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary,

 

and, in each case, any Investment held
by such Person; provided that such Investment was not acquired by such Person in contemplation of such acquisition, merger,
consolidation or transfer;

 

(4)          
any Investment in securities or other assets not constituting cash or Cash Equivalents and received in connection with an
Asset Sale made pursuant to Section 4.10(a) or any other disposition of assets not constituting an Asset Sale;

 

(5)          
any Investment existing on the Issue Date or made pursuant to binding commitments in effect on the Issue Date or an Investment
consisting of any extension, modification or renewal of any Investment existing on the Issue Date; provided that the amount
of any such Investment may not be increased other than (x) as required by the terms of such Investment as in existence on
the Issue Date or (y) as otherwise permitted under this Indenture;

 

(6)          
any Investment acquired by the Issuer or any of its Restricted Subsidiaries:

 

(a)               
in settlement of debts created in the ordinary course of business and owing to the Issuer or any Restricted Subsidiary;

 

(b)              
in exchange for any other Investment or accounts receivable held by the Issuer or any such Restricted Subsidiary in connection
with or as a result of a bankruptcy workout, reorganization or recapitalization of the issuer of such other Investment or accounts
receivable; or

 

(c)               
as a result of a foreclosure by the Issuer or any of its Restricted Subsidiaries with respect to any secured Investment
or other transfer of title with respect to any secured Investment in default;

 

(7)          
Hedging Obligations permitted under clause (10) of Section 4.09(b);

 

(8)          
Investments the payment for which consists of Equity Interests (exclusive of Disqualified Stock) of the Issuer; provided
that such Equity Interests will not increase the amount available for Restricted Payments under clause (3) of Section 4.07(a);

 

(9)          
guarantees of Indebtedness permitted under Section 4.09;

 

(10)    
    any transaction to the extent it constitutes an Investment that is permitted and made in accordance
with the provisions of Section 4.11(b) (except transactions described in clauses (2), (4), (5), (6), (9) and
(10) of Section 4.11(b));

 

    	21

    	 

    

(11)       
Investments consisting of (x) purchases and acquisitions of inventory, supplies, material or equipment, or other similar
assets in the ordinary course of business or (y) the licensing or contribution of intellectual property pursuant to joint
marketing arrangements with other Persons in the ordinary course of business and generally consistent with the past practice of
the Issuer and its Subsidiaries;

 

(12)       
 Investments having an aggregate fair market value (as determined in good faith by the Issuer), taken together with all
other Investments made pursuant to this clause (12) that are at that time outstanding (without giving effect to the sale of
an Unrestricted Subsidiary to the extent the proceeds of such sale do not consist of cash or marketable securities), not to exceed
the greater of (a) $150.0 million and (b) 2.5% of Total Assets at the time of such Investment (with the fair market value
of each Investment being measured at the time made and without giving effect to subsequent changes in value);

 

(13)       
any Investment by the Issuer or any Restricted Subsidiary in a Similar Business having an aggregate fair market value (as
determined in good faith by the Issuer), taken together with all other Investments made pursuant to this clause (13) that
are at that time outstanding, not to exceed the greater of (a) $100.0 million and (b) 1.75% Total Assets at the time
such Investment is made and without giving effect to subsequent changes of value;

 

(14)       
loans and advances to officers, directors and employees (a) for business-related travel expenses, moving expenses,
payroll expenses and other similar expenses, in each case incurred in the ordinary course of business or consistent with past practices
or to fund such Person’s purchase of Equity Interests of the Issuer and (b) in the ordinary course of business in an
aggregate outstanding amount (valued at the time of the making thereof, and without giving effect to any write-downs or write-offs
thereof) not to exceed $25.0 million at any one time outstanding;

 

(15)       
Investments in receivables owing to the Issuer or any Restricted Subsidiary created or acquired in the ordinary course of
business;

 

(16)       
pledges or deposits with respect to leases or utilities provided to third parties in the ordinary course of business or
Liens otherwise described in the definition of “Permitted Liens” or made in connection with Liens permitted
under Section 4.12;

 

(17)       
Investments consisting of earnest money deposits required in connection with a purchase agreement, or letter of intent,
or other acquisitions to the extent not otherwise prohibited by this Indenture;

 

(18)       
contributions to a “rabbi” trust for the benefit of employees or other grantor trust subject to claims of creditors
in the case of a bankruptcy of the Issuer; and

 

(19)       
Investments in joint ventures and similar entities and Unrestricted Subsidiaries having an aggregate fair market value,
when taken together with all other Investments made pursuant to this clause that are at the time outstanding, not to exceed the
greater of $100.0 million and 1.75% of Total Assets at the time of such Investment (with the fair market value of each Investment
being measured at the time made and without giving effect to subsequent changes in value).

 

“Permitted
Liens” means, with respect to any Person:

 

(1)           
pledges, deposits or security by such Person under workmen’s compensation laws, unemployment insurance, employers’
health tax, and other social security laws or similar legislation or other insurance related obligations (including, but not limited
to, in respect of deductibles, self-insured retention amounts and premiums and adjustments thereto) or

 

    	22

    	 

    

indemnification
obligations of (including obligations in respect of letters of credit or bank guarantees for the benefit of) insurance carriers
providing property, casualty or liability insurance, or good faith deposits in connection with bids, tenders, contracts (other
than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations
of such Person or deposits of cash or U.S. government bonds to secure surety, stay, customs or appeal bonds to which such
Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, performance and return
of money bonds and other similar obligations (including letters of credit issued in lieu of any such bonds or to support the issuance
thereof and including those to secure health, safety and environmental obligations), in each case incurred in the ordinary course
of business;

 

(2)          
Liens imposed by law or regulation or pursuant to customary reservations or retentions of title arising in the ordinary
course of business, such as carriers’, warehousemen’s, materialmen’s and mechanics’ Liens, in each case
for sums not yet overdue for a period of more than 30 days or being contested in good faith by appropriate proceedings or other
Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an
appeal or other proceedings for review if adequate reserves with respect thereto are maintained on the books of such Person in
accordance with GAAP;

 

(3)         
Liens for taxes, assessments or other governmental charges not yet overdue for a period of more than 30 days or payable
or subject to penalties for nonpayment or which are being contested in good faith by appropriate proceedings diligently conducted,
if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP;

 

(4)         
Liens in favor of issuers of performance, surety bonds or bid, indemnity, warranty, release, appeal or similar bonds or
with respect to other regulatory requirements or letters of credit issued pursuant to the request of and for the account of such
Person in the ordinary course of its business;

 

(5)         
minor survey exceptions, minor encumbrances, easements or reservations of, or rights of others for, licenses, rights-of-way,
sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions (including, without
limitation, minor defects or irregularities in title and similar encumbrances) as to the use of real properties or Liens incidental,
to the conduct of the business of such Person or to the ownership of its properties which were not incurred in connection with
Indebtedness and which do not in the aggregate materially adversely affect the value of said properties or materially impair their
use in the operation of the business of such Person;

 

(6)         
Liens securing Indebtedness permitted to be incurred (a) pursuant to clause (4), (12) or (18) of Section 4.09(b);
provided that Liens securing Indebtedness permitted to be incurred pursuant to clause (18) extend only to the assets
of Foreign Subsidiaries and (b) by Restricted Subsidiaries that are not Guarantors pursuant to Section 4.09(a) (and
subject to the limitations contained in the last proviso of Section 4.09(a)); provided that Liens securing such Indebtedness
extend only to the assets of Restricted Subsidiaries that are not Guarantors;

 

(7)         
Liens existing on the Issue Date not otherwise permitted hereunder;

 

(8)         
Liens on property or shares of stock of a Person at the time such Person becomes a Subsidiary; provided such Liens
are not created or incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; provided
further, however, that such Liens may not extend to any other property owned by the Issuer or any of its Restricted Subsidiaries;

 

    	23

    	 

    

(9)         
Liens on property at the time the Issuer or a Restricted Subsidiary acquired the property, including any acquisition by
means of a merger or consolidation with or into the Issuer or any of its Restricted Subsidiaries; provided that such Liens
are not created or incurred in connection with, or in contemplation of, such acquisition, merger or consolidation; provided
further that the Liens may not extend to any other property owned by the Issuer or any of its Restricted Subsidiaries;

 

(10)       
Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the Issuer or another Restricted Subsidiary
permitted to be incurred in accordance with Section 4.09;

 

(11)       
Liens securing Hedging Obligations;

 

(12)       
Liens on specific items of inventory or other goods and proceeds of any Person securing such Person’s obligations
in respect of bankers’ acceptances or trade letters of credit issued or created for the account of such Person to facilitate
the purchase, shipment or storage of such inventory or other goods;

 

(13)       
leases, subleases, licenses or sublicenses (including of intellectual property) granted to others in the ordinary course
of business which do not materially interfere with the ordinary conduct of the business of the Issuer or any of its Restricted
Subsidiaries and do not secure any Indebtedness;

 

(14)       
Liens arising from Uniform Commercial Code (or equivalent statute) financing statement filings regarding operating leases
entered into by the Issuer and its Restricted Subsidiaries in the ordinary course of business;

 

(15)       
Liens in favor of the Issuer or any Guarantor;

 

(16)       
Liens on equipment of the Issuer or any of its Restricted Subsidiaries granted in the ordinary course of business;

 

(17)       
Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancing, refunding, extensions,
renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses
(6), (7), (8) and (9), this clause (17) and clause (29) below; provided that (a) such new Lien shall
be limited to all or part of the same property that secured the original Lien (plus improvements on such property), and (b) the
Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (i) the outstanding
principal amount at the time the original Lien became a Permitted Lien under this Indenture, and (ii) an amount necessary
to pay any fees and expenses, including premiums, and accrued and unpaid interest related to such refinancing, refunding, extension,
renewal or replacement;

 

(18)       
deposits made in the ordinary course of business to secure liability to insurance carriers;

 

(19)       
Liens securing judgments for the payment of money not constituting an Event of Default under clause (5) under Section
6.01(a) so long as such Liens are adequately bonded and any appropriate legal proceedings that may have been duly initiated
for the review of such judgment have not been finally terminated or the period within which such proceedings may be initiated has
not expired;

 

    	24

    	 

    

(20)       
Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection
with the importation of goods in the ordinary course of business;

 

(21)       
Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code or any comparable or
successor provision on items in the course of collection, (ii) attaching to commodity trading accounts or other commodity
brokerage accounts incurred in the ordinary course of business, and (iii) in favor of banking or other financial institutions
arising as a matter of law encumbering deposits (including the right of set-off) and which are within the general parameters customary
in the banking industry;

 

(22)       
Liens deemed to exist in connection with Investments in repurchase agreements permitted under Section 4.09; provided
that such Liens do not extend to any assets other than those that are the subject of such repurchase agreement;

 

(23)       
Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading
accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes;

 

(24)       
Liens that are contractual rights of set-off (i) relating to the establishment of depository relations with banks not
given in connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts of the Issuer or
any of its Restricted Subsidiaries to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of
business of the Issuer and its Restricted Subsidiaries or (iii) relating to purchase orders and other agreements entered into
with customers of the Issuer or any of its Restricted Subsidiaries in the ordinary course of business;

 

(25)       
Liens on the Equity Interests of Unrestricted Subsidiaries that secure Indebtedness of such Unrestricted Subsidiaries and
transfer restrictions, purchase options, calls or similar rights of third-party joint venture partners with respect to Equity Interests
of joint venture entities;

 

(26)       
any encumbrance or restriction (including put and call arrangements or similar rights) with respect to capital stock of
any joint venture or similar arrangement pursuant to any joint venture or similar agreement;

 

(27)       
Liens on property or assets used to defease or to irrevocably satisfy and discharge Indebtedness; provided that such
defeasance or satisfaction and discharge is not prohibited by this Indenture;

 

(28)       
Liens securing (i) Indebtedness permitted to be incurred under Credit Facilities, including any letter of credit relating
thereto, that was incurred pursuant to clause (1) of Section 4.09(b) and (ii) obligations of the Issuer and
its Restricted Subsidiaries under Hedging Obligations and in respect of treasury and cash management services provided by, or entered
into with, the lenders under Credit Facilities or their affiliates (so long as such Persons remain lenders or affiliates thereof
after entry into such agreements or arrangements);

 

(29)       
Liens securing Obligations in respect of Indebtedness permitted to be incurred under Section 4.09; provided
that, with respect to Liens securing Obligations permitted under this clause (29), at the time of incurrence and after giving pro
forma effect thereto, the Consolidated Secured Debt Ratio would be no greater than 4.25 to 1.00;

 

(30)       
other Liens securing Indebtedness and other obligations which do not exceed the greater of $175.0 million and 3.0% of Total
Assets at any one time outstanding;

 

    	25

    	 

    

(31)       
Liens (i) on cash advances in favor of the seller of any property to be acquired in an Investment permitted pursuant
to Permitted Investments to be applied against the purchase price for such Investment, and (ii) consisting of an agreement
to sell any property in an asset sale permitted under Section 4.10, in each case, solely to the extent such Investment
or asset sale, as the case may be, would have been permitted on the date of the creation of such Lien;

 

(32)       
Liens solely on any cash earnest money deposits made in connection with any letter of intent or purchase agreement permitted
under this Indenture; and

 

(33)       
receipt of progress payments and advances from customers in the ordinary course of business to the extent same creates a
Lien on the related inventory and proceeds thereof.

 

For purposes of this
definition, the term “Indebtedness” shall be deemed to include interest on and the costs in respect of such
Indebtedness.

 

“Permitted
Tax Restructuring” means any reorganizations and other activities related to the Issuer’s tax planning and tax
reorganization (as determined in good faith by the Issuer) so long as the enforceability of the Guarantees is not adversely affected
in any material respect except as otherwise permitted under this Indenture.

 

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

 

“Preferred
Stock” means any Equity Interest with preferential rights of payment of dividends or upon liquidation, dissolution, or
winding up.

 

“Private Placement
Legend” means the legend set forth in Section 2.06(g)(1) to be placed on all Notes issued under this Indenture,
other than Exchange Notes and except where otherwise permitted by the provisions of this Indenture.

 

“QIB”
means a “qualified institutional buyer” as defined in Rule 144A.

 

“Rating Agencies”
means Moody’s and S&P or if Moody’s or S&P or both shall not make a rating on the Notes publicly available,
a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Issuer which shall be substituted
for Moody’s or S&P or both, as the case may be.

 

“Record Date”
for the interest payable on any applicable Interest Payment Date means the January 1 or July 1 (whether or not a Business
Day) next preceding such Interest Payment Date.

 

“Registration
Rights Agreement” means (i) the registration rights agreement with respect to the Initial Notes dated as of the
Issue Date, between the Issuer and Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc., as representatives of the
initial purchasers of the Notes, and (ii) with respect to any Additional Notes, any registration rights agreement between
the Issuer and the initial purchasers for such Additional Notes relating to the rights given by the Issuer to the purchasers of
Additional Notes to register such Additional Notes or exchange them for Notes registered under the Securities Act.

 

“Regulation S”
means Regulation S promulgated under the Securities Act.

 

“Regulation S
Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the
Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued
in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 903 of Regulation S.

 

    	26

    	 

    

“Related Business
Assets” means assets (other than cash or Cash Equivalents) used or useful in a Similar Business, provided that
any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary
shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities
of such Person, such Person would become a Restricted Subsidiary.

 

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

 

“Restricted
Definitive Note” means a Definitive Note bearing the Private Placement Legend.

 

“Restricted
Global Note” means a Global Note bearing the Private Placement Legend.

 

“Restricted
Investment” means an Investment other than a Permitted Investment.

 

“Restricted
Period” means the 40-day distribution compliance period as defined in Regulation S.

 

“Restricted
Subsidiary” means, at any time, each direct and indirect Subsidiary of the Issuer that is not then an Unrestricted Subsidiary;
provided that upon the occurrence of an Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary
shall be included in the definition of “Restricted Subsidiary.”

 

“Rule 144”
means Rule 144 promulgated under the Securities Act.

 

“Rule 144A”
means Rule 144A promulgated under the Securities Act.

 

“Rule 903”
means Rule 903 promulgated under the Securities Act.

 

“Rule 904”
means Rule 904 promulgated under the Securities Act.

 

“S&P”
means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., and any successor to its rating agency business.

 

“Sale and
Leaseback Transaction” means any arrangement providing for the leasing by the Issuer or any of its Restricted Subsidiaries
of any real or tangible personal property, which property has been or is to be sold or transferred for value by the Issuer or such
Restricted Subsidiary to a third Person in contemplation of such leasing.

 

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

 

“Secured Indebtedness”
means any Indebtedness of the Issuer or any of its Restricted Subsidiaries secured by a Lien.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

 

“Senior Indebtedness”
means:

 

(1)         
all Indebtedness of the Issuer or any Guarantor outstanding under the New Senior Secured Credit Facilities and related guarantees
or the Notes and related Guarantees (including interest accruing on or after the filing of any petition in bankruptcy or similar
proceeding or for

 

    	27

    	 

    

reorganization
of the Issuer or any Guarantor (at the rate provided for in the documentation with respect thereto, regardless of whether or not
a claim for post-filing interest is allowed in such proceedings)), and any and all other fees, expense reimbursement obligations,
indemnification amounts, penalties, and other amounts (whether existing on the Issue Date or thereafter created or incurred) and
all obligations of the Issuer or any Guarantor to reimburse any bank or other Person in respect of amounts paid under letters of
credit, acceptances or other similar instruments;

 

(2)         
all Hedging Obligations (and guarantees thereof) owing to a Lender (as defined in the New Senior Secured Credit Facilities)
or any Affiliate of such Lender (or any Person that was a Lender or an Affiliate of such Lender at the time the applicable agreement
giving rise to such Hedging Obligation was entered into), provided that such Hedging Obligations are permitted to be incurred
under the terms of this Indenture;

 

(3)         
any other Indebtedness of the Issuer or any Guarantor permitted to be incurred under the terms of this Indenture, unless
the instrument under which such Indebtedness is incurred expressly provides that it is subordinated in right of payment to the
Notes or any related Guarantee; and

 

(4)         
all Obligations with respect to the items listed in the preceding clauses (1), (2) and (3);

 

provided that
Senior Indebtedness shall not include:

 

(a)      
any obligation of such Person to the Issuer or any of its Subsidiaries;

 

(b)     
any liability for federal, state, local or other taxes owed or owing by such Person;

 

(c)      
any accounts payable or other liability to trade creditors arising in the ordinary course of business; provided that
obligations incurred pursuant to Credit Facilities shall not be excluded pursuant to this clause (c);

 

(d)     
any Indebtedness or other Obligation of such Person which is subordinate or junior in any respect to any other Indebtedness
or other Obligation of such Person; or

 

(e)      
that portion of any Indebtedness which at the time of incurrence is incurred in violation of this Indenture.

 

“Shelf Registration
Statement” means the Shelf Registration Statement as defined in the Registration Rights Agreement.

 

“Significant
Subsidiary” means any Restricted Subsidiary or any group of Restricted Subsidiaries that would be a “significant
subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such
regulation is in effect on the Issue Date.

 

“Similar Business”
means any business conducted or proposed to be conducted by the Issuer and its Restricted Subsidiaries on the Issue Date or any
natural outgrowth or reasonable extension, development, expansion thereof, or any business that is similar, reasonably related,
incidental or ancillary thereto.

 

“Subordinated
Indebtedness” means:

 

(1)         
any Indebtedness of the Issuer which is by its terms subordinated in right of payment to the Notes, and

 

    	28

    	 

    

(2)     
     any Indebtedness of any Guarantor which is by its terms subordinated in right of payment to
the Guarantee of such entity of the Notes.

 

“Subsidiary”
means, with respect to any Person:

 

(1)    
      any corporation, association, or other business entity (other than a partnership, joint
venture, limited liability company or similar entity) of which more than 50.0% of the total voting power of shares of Capital
Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more
of the other Subsidiaries of that Person or a combination thereof; and

 

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

 

(a)more
than 50.0% of the capital accounts, distribution rights, total equity and voting interests or general or limited partnership interests,
as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that
Person or a combination thereof whether in the form of membership, general, special or limited partnership or otherwise, and

 

(b)such
Person or any Restricted Subsidiary of such Person is a controlling general partner or otherwise controls such entity.

 

“Total Assets”
means total assets of the Issuer and its Restricted Subsidiaries on a consolidated basis, shown on the most recent balance sheet
of the Issuer and its Restricted Subsidiaries, or, in the case of Foreign Subsidiaries, the total assets of such Foreign Subsidiaries
on a combined basis, shown on the most recent balance sheet of such Foreign Subsidiaries, in each case as may be expressly stated
without giving effect to any amortization of the amount of intangible assets since the Issue Date, with such pro forma adjustments
as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Fixed
Charge Coverage Ratio.”

 

“Transactions”
means the Acquisition and other transactions described under “The Transactions” in the Offering Memorandum.

 

“Treasury
Rate” means, as of any Redemption Date, the yield to maturity as of such Redemption Date of United States Treasury securities
with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that
has become publicly available at least two Business Days prior to the Redemption Date (or, if such Statistical Release is no longer
published, any publicly available source of similar market data)) most nearly equal to the period from the Redemption Date to July 15,
2018; provided that if the period from the Redemption Date to July 15, 2018 is less than one year, the weekly average
yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used.

 

“Trust Indenture
Act” means the Trust Indenture Act of 1939, as amended.

 

“Trustee”
means Wilmington Trust, National Association, as trustee, until a successor replaces it in accordance with the applicable provisions
of this Indenture and thereafter means the successor serving hereunder.

 

“Uniform Commercial
Code” means the Uniform Commercial Code or any successor provision thereof as the same may from time to time be in effect
in the State of New York.

 

    	29

    	 

    

“Unrestricted
Definitive Note” means one or more Definitive Notes that do not bear and are not required to bear the Private Placement
Legend.

 

“Unrestricted
Global Note” means a permanent Global Note, substantially in the form of Exhibit A hereto, that bears the Global Note
Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and that is
deposited with or on behalf of and registered in the name of the Depositary, representing Notes that do not bear the Private Placement
Legend.

 

“Unrestricted
Subsidiary” means:

 

(1)          
any Subsidiary of the Issuer which at the time of determination is an Unrestricted Subsidiary (as designated by the Issuer,
as provided below); and

 

(2)          
any Subsidiary of an Unrestricted Subsidiary.

 

The Issuer may designate
any Subsidiary of the Issuer (including any existing Subsidiary and any newly acquired or newly formed Subsidiary) to be an Unrestricted
Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any
Lien on, any property of, the Issuer or any Subsidiary of the Issuer (other than solely any Subsidiary of the Subsidiary to be
so designated); provided that:

 

(1)          
such designation complies with Section 4.07; and

 

(2)          
each of (a) the Subsidiary to be so designated and (b) its Subsidiaries has not at the time of designation, and
does not thereafter, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable with respect to
any Indebtedness pursuant to which the lender has recourse to any of the assets of the Issuer or any Restricted Subsidiary.

 

The Issuer may designate
any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that, immediately after giving effect to such designation,
no Default shall have occurred and be continuing and either:

 

(1)          
the Issuer could incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test described
in Section 4.09(a); or

 

(2)          
the Fixed Charge Coverage Ratio for the Issuer and its Restricted Subsidiaries would be equal to or greater than such ratio
immediately prior to such designation,

 

in each case on a pro forma basis
taking into account such designation.

 

Any such designation
by the Issuer shall be notified by the Issuer to the Trustee by promptly filing with the Trustee a copy of the resolution of the
board of directors of the Issuer or any committee thereof giving effect to such designation and an Officer’s Certificate
certifying that such designation complied with the foregoing provisions.

 

“U.S. Person”
means a U.S. person as defined in Rule 902(k) under the Securities Act.

 

“Voting Stock”
of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the
board of directors of such Person.

 

“Weighted
Average Life to Maturity” means, when applied to any Indebtedness, Disqualified Stock or Preferred Stock, as the case
may be, at any date, the quotient obtained by dividing:

 

(1)          
the sum of the products of the number of years from the date of determination to the date of each successive scheduled principal
payment of such Indebtedness or redemption or

 

    	30

    	 

    

similar payment
with respect to such Disqualified Stock or Preferred Stock multiplied by the amount of such payment; by

 

(2)          
the sum of all such payments.

 

“Wholly-Owned
Subsidiary” of any Person means a Subsidiary of such Person, 100% of the outstanding Equity Interests of which (other
than directors’ qualifying shares) shall at the time be owned by such Person or by one or more Wholly-Owned Subsidiaries
of such Person.

 

Section 1.02        
Other Definitions.

 

	
        Term 
	
        Defined
in Section 

	“Acceptable Commitment”	4.10
	“Additional Interest Notice”	4.17
	“Affiliate Transaction”	4.11
	“Applicable Premium Deficit”	8.04
	“Asset Sale Offer”	4.10
	“Authentication Order”	2.02
	“Change of Control Offer”	4.14
	“Change of Control Payment”	4.14
	“Change of Control Payment Date”	4.14
	“Covenant Defeasance”	8.03
	“Covenant Suspension Event”	4.16
	“Event of Default”	6.01
	“Excess Proceeds”	4.10
	“Foreign Disposition”	4.10
	“Increased Amount”	4.12
	“incur”	4.09
	“incurrence”	4.09
	“Initial Default”	6.01
	“Legal Defeasance”	8.02
	“Note Register”	2.03
	“Offer Amount”	3.09
	“Offer Period”	3.09
	“Other Guarantee”	10.06
	“Pari Passu Indebtedness”	4.10
	“Paying Agent”	2.03
	“Redemption Date”	3.07
	“Refinancing Indebtedness”	4.09
	“Refunding Capital Stock”	4.07
	“Registrar”	2.03
	“Repurchase Date”	3.09
	“Restricted Payments”	4.07
	“Reversion Date”	4.16
	“Successor Company”	5.01
	“Successor Person”	5.01
	“Suspended Covenants”	4.16
	“Suspension Period”	4.16
	“Treasury Capital Stock”	4.07
	 	 

Section 1.03        
Incorporation by Reference of Trust Indenture Act if Qualified thereunder. If this Indenture is qualified under
the Trust Indenture Act, then:

 

 

    	31

    	 

    

(a)           
when this Indenture refers to a provision of the Trust Indenture Act, the provision is incorporated by reference in and
made a part of this Indenture;

 

(b)          
the following Trust Indenture Act terms used in this Indenture shall have the following meanings:

 

“indenture securities”
means the Notes;

 

“indenture security
holder” means a Holder of a Note;

 

“indenture to
be qualified” means this Indenture;

 

“indenture trustee”
or “institutional trustee” means the Trustee; and

 

“obligor”
on the Notes and the Guarantees means the Issuer and the Guarantors, respectively, and any successor obligor upon the Notes and
the Guarantees, respectively; and

 

(c)          
all other terms used in this Indenture that are defined by the Trust Indenture Act, defined by Trust Indenture Act reference
to another statute or defined by SEC rule under the Trust Indenture Act have the meanings so assigned to them.

 

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

 

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

 

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

 

(c)          
“or” is not exclusive;

 

(d)          
words in the singular include the plural, and in the plural include the singular;

 

(e)          
“will” shall be interpreted to express a command;

 

(f)           
provisions apply to successive events and transactions;

 

(g)          
references to sections of, or rules under, the Securities Act shall be deemed to include substitute, replacement or successor
sections or rules adopted by the SEC from time to time;

 

(h)          
any reference to an “Article,” “Section” or “clause” refers to an Article, Section or
clause, as the case may be, of this Indenture;

 

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

 

(j)           
all references herein, in any context, to any interest or other amount payable on or with respect to the Notes shall be
deemed to include any Additional Interest payable pursuant to the Registration Rights Agreement and/or as set forth in this Indenture;

 

(k)          
the phrase “in writing” or any similar phrase as used herein shall be deemed to include PDF attachments and
other electronic means of transmission, unless otherwise indicated; and

 

(l)           
“including” means including without limitation.

 

    	32

    	 

    

Section 1.05        
Acts of Holders.

 

(a)         
Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be
given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by
such Holders in person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such action shall
become effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly
required, to the Issuer. Proof of execution of any such instrument or of a writing appointing any such agent, or the holding by
any Person of a Note, shall be sufficient for any purpose of this Indenture and (subject to Section 7.01) conclusive in
favor of the Trustee and the Issuer, if made in the manner provided in this Section 1.05.

 

(b)          
The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness
of such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds,
certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by or on behalf of any legal entity other than an individual, such certificate or affidavit shall also constitute proof of the
authority of the Person executing the same. The fact and date of the execution of any such instrument or writing, or the authority
of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient.

 

(c)     
     The ownership of Notes shall be proved by the Note Register.

 

(d)         
Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Note shall bind
every future Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange
therefor or in lieu thereof, in respect of any action taken, suffered or omitted by the Trustee or the Issuer in reliance thereon,
whether or not notation of such action is made upon such Note.

 

(e)          
The Issuer may set a record date for purposes of determining the identity of Holders entitled to give any request, demand,
authorization, direction, notice, consent, waiver or take any other act, or to vote or consent to any action by vote or consent
authorized or permitted to be given or taken by Holders. Unless otherwise specified, if not set by the Issuer prior to the first
solicitation of a Holder made by any Person in respect of any such action, or in the case of any such vote, prior to such vote,
any such record date shall be the later of 30 days prior to the first solicitation of such consent or the date of the most recent
list of Holders furnished to the Trustee prior to such solicitation.

 

(f)          
Without limiting the foregoing, a Holder entitled to take any action hereunder with regard to any particular Note may do
so with regard to all or any part of the principal amount of such Note or by one or more duly appointed agents, each of which may
do so pursuant to such appointment with regard to all or any part of such principal amount. Any notice given or action taken by
a Holder or its agents with regard to different parts of such principal amount pursuant to this paragraph shall have the same effect
as if given or taken by separate Holders of each such different part.

 

(g)         
Without limiting the generality of the foregoing, a Holder, including DTC, may make, give or take, by a proxy or proxies
duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this
Indenture to be made, given or taken by Holders, and DTC may provide its proxy or proxies to the beneficial owners of interests
in any such Global Note through the Applicable Procedures and its other standing instructions and customary practices.

 

(h)         
The Issuer may fix a record date for the purpose of determining the Persons who are beneficial owners of interests in any
Global Note held by DTC entitled under the Applicable

 

    	33

    	 

    

Procedures to
make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent,
waiver or other action provided in this Indenture to be made, given or taken by Holders. If such a record date is fixed, the Holders
on such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled to make, give or take such
request, demand, authorization, direction, notice, consent, waiver or other action, whether or not such Holders remain Holders
after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other action shall be valid
or effective if made, given or taken more than 90 days after such record date.

 

Article
II

THE NOTES

 

Section 2.01        
Form and Dating; Terms.

 

(a)          
General. The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit
A hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rules or usage. Each Note shall
be dated the date of the Trustee’s authentication. The Notes shall be in minimum denominations of $2,000 and integral multiples
of $1,000 in excess of $2,000.

 

(b)         
Global Notes. Notes issued in global form shall be substantially in the form of Exhibit A attached hereto
(including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached
thereto). Notes issued in definitive form shall be substantially in the form of Exhibit A (but without the Global Note Legend thereon
and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note shall represent
such of the outstanding Notes as shall be specified in the “Schedule of Exchanges of Interests in the Global Note”
attached thereto and each shall provide that it shall represent up to the aggregate principal amount of Notes from time to time
endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced
or increased, as applicable, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any
increase or decrease in the aggregate principal amount of outstanding Notes represented thereby shall be made by the Trustee as
Custodian, in accordance with instructions given by the Holder thereof as required by Section 2.06.

 

(c)         
Terms. The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is unlimited,
subject to compliance with Section 4.09.

 

The terms and provisions
contained in the Notes shall constitute, and are hereby expressly made, a part of this Indenture and the Issuer, the Guarantors
and the Trustee, by their execution and delivery of this Indenture or a supplemental indenture in the form of Exhibit D
hereto, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note
conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling.

 

The Notes shall be
subject to repurchase by the Issuer pursuant to an Asset Sale Offer as provided in Section 4.10 or a Change of Control Offer
as provided in Section 4.14. The Notes shall not be redeemable, other than as provided in Article III.

 

Additional Notes ranking
pari passu with the Initial Notes may be created and issued from time to time by the Issuer without notice to or consent
of the Holders and shall be consolidated with and form a single class with the Initial Notes and shall have the same terms as to
status, waivers, amendments, redemptions, offers to purchase and otherwise as the Initial Notes; provided that the Issuer’s
ability to issue Additional Notes shall be subject to the Issuer’s compliance with Section 4.09; and provided further

 

    	34

    	 

    

that Additional Notes
shall not be issued with the same CUSIP, if any, as the Initial Notes unless such Additional Notes are fungible with the Initial
Notes for U.S. federal income tax purposes.

 

(d)         
[Reserved].

 

Section 2.02        
Execution and Authentication.

 

At least one Officer
of the Issuer shall execute the Notes by manual, facsimile, PDF attachment or other electronically transmitted signature.

 

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

 

A Note shall not be
entitled to any benefit under this Indenture or be valid or obligatory for any purpose until authenticated substantially in the
form of Exhibit A attached hereto by the manual signature of the Trustee. The signature shall be conclusive evidence that
the Note has been duly authenticated and delivered under this Indenture.

 

On the Issue Date,
the Trustee shall, upon receipt of an Issuer Order (an “Authentication Order”), authenticate and deliver the
Initial Notes. In addition, at any time, from time to time, the Trustee shall upon receipt of an Authentication Order authenticate
and deliver (i) any Additional Notes for an aggregate principal amount specified in such Authentication Order for such Additional
Notes issued hereunder and (ii) Exchange Notes in exchange for a like principal amount of Initial Notes or Additional Notes
after effectiveness of an Exchange Registration Statement and consummation of the Exchange Offer thereunder (and receipt by the
Trustee of an Officer’s Certificate to that effect).

 

The Trustee may appoint
an authenticating agent acceptable to the Issuer to authenticate Notes. An authenticating agent may authenticate Notes whenever
the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent.
An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of the Issuer.

 

Section 2.03        
Registrar and Paying Agent.

 

The Issuer shall maintain
(i) an office or agency where Notes may be presented for registration of transfer or for exchange (“Registrar”)
and (ii) an office or agency in the United States where Notes may be presented for payment (the “Paying Agent”).
The Registrar shall keep a register of the Notes (“Note Register”) and of their transfer and exchange. The Issuer
may appoint one or more co-registrars and one or more additional paying agents. The term “Registrar” includes
any co-registrar. The Issuer shall maintain a registrar in the United States. The term “Paying Agent” includes
any additional paying agents. The Issuer initially appoints the Trustee as (i) Registrar and Paying Agent and (ii) the
Custodian with respect to the Global Notes. The Issuer may change any Paying Agent or Registrar without prior notice to any Holder.
The Issuer shall notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Issuer
fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Issuer or any of its
respective Subsidiaries may act as Paying Agent or Registrar.

 

The Issuer initially
appoints DTC to act as Depositary with respect to the Global Notes.

 

Section 2.04        
Paying Agent to Hold Money in Trust.

 

The Issuer shall require
the Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of Holders
or the Trustee all money held by the Paying Agent for the payment of principal, premium, if any, or interest on the Notes, and
will notify the Trustee in writing of any default by the Issuer in making any such payment. While any such default continues,

 

    	35

    	 

    

the Trustee may require
a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay all money held
by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Issuer or one of its Subsidiaries)
shall have no further liability for the money. If the Issuer or one of its Subsidiaries acts as Paying Agent, it shall segregate
and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization
proceedings relating to the Issuer, the Trustee shall serve as Paying Agent for the Notes.

 

Section 2.05        
Holder Lists.

 

The Trustee shall preserve
in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of all Holders
and shall otherwise comply with Trust Indenture Act Section 312(a). If the Trustee is not the Registrar, the Issuer
shall furnish to the Trustee at least five Business Days before each Interest Payment Date and at such other times as the Trustee
may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses
of the Holders of Notes and the Issuer shall otherwise comply with Trust Indenture Act Section 312(a) if this Indenture
is qualified under the Trust Indenture Act.

 

Section 2.06        
Transfer and Exchange.

 

(a)         
Transfer and Exchange of Global Notes. Except as otherwise set forth in this Section 2.06, a Global Note may
be transferred, in whole and not in part, only to another nominee of the Depositary or to a successor thereto or a nominee of such
successor. A beneficial interest in a Global Note shall be exchangeable for a Definitive Note if (i) the Depositary (x) notifies
the Issuer that it is unwilling or unable to continue as Depositary for such Global Note or (y) has ceased to be a clearing
agency registered under the Exchange Act, and, in either case, a successor Depositary is not appointed by the Issuer within 120
days or (ii) in the case of any Global Note, there shall have occurred and be continuing an Event of Default with respect
to such Global Note. Upon the occurrence of any of the preceding events in clause (i) or (ii) above, Definitive Notes
delivered in exchange for any Global Note or beneficial interests therein will be registered in the names, and issued in any approved
denominations, requested by or on behalf of the Depositary (in accordance with the Applicable Procedures). Global Notes also may
be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10. Every Note authenticated and
delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06 or Section
2.07 or Section 2.10, shall be authenticated and delivered in the form of, and shall be, a Global Note, except for Definitive
Notes issued subsequent to any of the preceding events in clause (i) or (ii) above and pursuant to Section 2.06(c).
A Global Note may not be exchanged for another Note other than as provided in this Section 2.06(a); provided, however,
that beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.06(b) or (c).

 

(b)         
Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests
in the Global Notes shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable
Procedures. Beneficial interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable to those
set forth herein to the extent required by the Securities Act. Beneficial interests in Global Notes shall be transferred or exchanged
only for beneficial interests in Global Notes pursuant to this subsection (b). Transfers of beneficial interests in the Global
Notes also shall require compliance with either subparagraph (1) or (2) below, as applicable, as well as one or more of the other
following subparagraphs, as applicable:

 

(1)              
Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may
be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in
accordance with the transfer

 

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restrictions
set forth in the Private Placement Legend; provided that prior to the expiration of the Restricted Period, transfers of
beneficial interests in the Regulation S Global Note may not be made to a U.S. Person or for the account or benefit of
a U.S. Person (other than an initial purchaser of the Notes) unless permitted by applicable law and made in compliance with
subsections (2) or (3) below. Beneficial interests in any Unrestricted Global Note may be transferred to Persons who
take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions shall
be required to be delivered to the Registrar to effect the transfers described in this Section 2.06(b)(1).

 

(2)              
All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and exchanges
of beneficial interests that are not subject to Section 2.06(b)(1), the transferor of such beneficial interest must
deliver to the Registrar either (A) (1) a written order from a Participant or an Indirect Participant given to the Depositary
in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in
another Global Note in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given
in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such
increase or (B) (1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance
with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial
interest to be transferred or exchanged and (2) instructions given by the Depositary to the Registrar containing information
regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (1) above;
provided that in no event shall Definitive Notes be issued upon the transfer or exchange of beneficial interests in the
Regulation S Global Note prior to (x) the expiration of the Restricted Period and (y) the receipt by the Registrar
of a duly completed Certificate of Transfer or Certificate of Exchange, as applicable, required by the Issuer to establish compliance
with Rule 903 of the Securities Act. Upon consummation of an Exchange Offer, if any, by the Issuer in accordance with Section 2.06(f),
the requirements of this Section 2.06(b)(2) shall be deemed to have been satisfied upon receipt by the Registrar of
the instructions contained in the Letter of Transmittal delivered by the Holder of such beneficial interests in the Restricted
Global Notes.

 

Upon satisfaction of
all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes
or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s)
pursuant to Section 2.06(h).

 

(3)              
Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial interest in any Restricted Global
Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global
Note if the transfer complies with the requirements of Section 2.06(b)(2) and the Registrar receives the following:

 

(A)             
if the transferee will take delivery in the form of a beneficial interest in a 144A Global Note, then the transferor must
deliver a duly completed Certificate of Transfer, including the certifications in item (1) thereof;

 

(B)             
if the transferee will take delivery in the form of a beneficial interest in a Regulation S Global Note, then the transferor
must deliver a duly completed Certificate of Transfer, including the certifications in item (2) thereof; or

 

(C)             
if the transferee will take delivery in the form of a beneficial interest in an IAI Global Note, then the transferor must
deliver a duly completed Certificate of Transfer, including the certifications in item (3) thereof, and a duly completed Institutional
Accredited Investor Certificate.

 

(4)              
Transfer and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted
Global Note. A beneficial interest in any Restricted

 

    	37

    	 

    

Global Note
may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who
takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, if the exchange or transfer complies
with the requirements of Section 2.06(b)(2) and:

 

(A)             
such exchange or transfer is effected pursuant to any Exchange Offer in accordance with a Registration Rights Agreement
and the holder of the beneficial interest to be transferred, in the case of an exchange, or the transferee, in the case of a transfer,
certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer who acquired directly from the Issuer,
(ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined
in Rule 144) of the Issuer;

 

(B)             
such transfer is effected pursuant to the Shelf Registration Statement in accordance with a Registration Rights Agreement;

 

(C)             
such transfer is effected by a Broker-Dealer pursuant to any Exchange Offer Registration Statement in accordance with a
Registration Rights Agreement; or

 

(D)             
the Registrar receives the following: (1) if the holder of such beneficial interest in a Restricted Global Note proposes
to exchange such beneficial interest for a beneficial interest in an Unrestricted Global Note, a duly completed Certificate of
Exchange from such Holder, including the certifications in item (1)(a) thereof; or (2) if the holder of such beneficial
interest in a Restricted Global Note proposes to transfer such beneficial interest to a Person who shall take delivery thereof
in the form of a beneficial interest in an Unrestricted Global Note, a duly completed Certificate of Transfer from such Holder,
including the certifications in item (5) thereof; and, in each case set forth in this clause (D), if the Registrar or the
Issuer so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar
and the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions
on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the
Securities Act.

 

If any such transfer
is effected pursuant to clause (B) or (D) above at a time when an Unrestricted Global Note has not yet been issued, the
Issuer shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02, the Trustee shall authenticate
one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial interests
transferred pursuant to clause (B) or (D) above.

 

(5)              
(i) If the Issuer determines (upon the advice of counsel and such other certifications and evidence as the Issuer may reasonably
require) that a Note is eligible (without limits) for resale pursuant to Rule 144 under the Securities Act (or a successor provision)
and that the Private Placement Legend is no longer necessary or appropriate in order to ensure that subsequent transfers of the
Note (or a beneficial interest therein) are effected in compliance with the Securities Act, or (ii) after an Initial Note
or any Additional Note is (x) sold pursuant to an effective registration statement under the Securities Act (pursuant to the
Registration Rights Agreement or otherwise), or (y) validly tendered for exchange into an Exchange Note pursuant to an Exchange
Offer, the Issuer shall instruct in writing the Trustee to cancel the Notes and issue to the non-affiliate Holders thereof (or
to their transferees) new Notes of like tenor and amount, registered in the name of the Holder thereof (or to their transferees),
that does not bear the Private Placement Legend, and the Trustee will comply with such instruction.

 

    	38

    	 

    

(6)              
Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery
thereof in the form of, a beneficial interest in a Restricted Global Note.

 

(c)               
Transfer or Exchange of Beneficial Interests for Definitive Notes. Beneficial interests in Global Notes shall be
exchanged only for Definitive Notes pursuant to this clause (c).

 

(1)              
Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes. If any holder of a beneficial interest
in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such
beneficial interest to a Person who takes delivery thereof in the form of a Restricted Definitive Note, then, upon the occurrence
of any of the events in clause (i) or (ii) of Section 2.06(a) and receipt by the Registrar of the following documentation:

 

(A)             
if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for
a Restricted Definitive Note, a duly completed Certificate of Exchange from such Holder, including the certifications in item (2)(a) thereof;

 

(B)             
if such beneficial interest is being transferred to a QIB in accordance with Rule 144A, a duly completed Certificate of
Transfer, including the certifications in item (1) thereof;

 

(C)             
if such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with
Rule 903 or Rule 904, a duly completed Certificate of Transfer, including the certifications in item (2) thereof;

 

(D)             
if such beneficial interest is being transferred to an Institutional Accredited Investor, a duly completed Certificate of
Transfer, including the certifications in item (3) thereof, and a duly completed Institutional Accredited Investor Certificate;

 

(E)              
if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the Securities
Act in accordance with Rule 144, a duly completed Certificate of Transfer, including the certifications in item (4)(a) thereof;

 

(F)              
if such beneficial interest is being transferred to the Issuer or any of its Restricted Subsidiaries, a duly completed Certificate
of Transfer, including the certifications in item (4)(b) thereof; or

 

(G)             
if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act,
pursuant to the Registration Rights Agreement or otherwise, a duly completed Certificate of Transfer, including the certifications
in item (4)(c) thereof, and the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced
accordingly pursuant to Section 2.06(h), and the Issuer shall execute and, upon receipt of the Authentication Order,
the Trustee shall authenticate and mail to the Person designated in the instructions a Definitive Note in the applicable principal
amount. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section
2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such
beneficial interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant.
The Trustee shall mail such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued
in exchange for a beneficial interest in a

 

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Restricted Global
Note pursuant to this Section 2.06(c)(1) shall bear the Private Placement Legend and shall be subject to all restrictions
on transfer contained therein.

 

(2)              
Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes. A holder of a beneficial interest
in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial
interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note only upon the occurrence of any
of the events in clause (i) or (ii) of Section 2.06(a) and if:

 

(A)             
such exchange or transfer is effected pursuant to an Exchange Offer, if any, in accordance with a Registration Rights Agreement
and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, certifies
in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer who acquired directly from the Issuer, (ii) a
Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144)
of the Issuer;

 

(B)             
such transfer is effected pursuant to the Shelf Registration Statement in accordance with a Registration Rights Agreement;

 

(C)             
such transfer is effected by a Broker-Dealer pursuant to any Exchange Offer Registration Statement in accordance with a
Registration Rights Agreement; or

 

(D)             
the Registrar receives (1) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange
such beneficial interest for an Unrestricted Definitive Note, a duly completed Certificate of Exchange from such Holder, including
the certifications in item (1)(b) thereof; or (2) if the holder of such beneficial interest in a Restricted Global Note
proposes to transfer such beneficial interest to a Person who shall take delivery thereof in the form of an Unrestricted Definitive
Note, a duly completed Certificate of Transfer, including the certifications in item (5) thereof; and, in each case set forth
in this clause (D), if the Registrar or the Issuer so requests or if the Applicable Procedures so require, an Opinion of Counsel
in form reasonably acceptable to the Registrar and the Issuer to the effect that such exchange or transfer is in compliance with
the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required
in order to maintain compliance with the Securities Act.

 

(3)              
Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. If any holder of a beneficial
interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such
beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then, upon the occurrence of any of
the events in clause (i) or (ii) of Section 2.06(a) and satisfaction of the conditions set forth in Section
2.06(b)(2), the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly
pursuant to Section 2.06(h), and the Issuer shall execute and the Trustee shall authenticate and mail to the Person designated
in the instructions a Definitive Note in the applicable principal amount. Any Definitive Note issued in exchange for a beneficial
interest pursuant to this Section 2.06(c)(3) shall be registered in such name or names and in such authorized denomination
or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions from or through the
Depositary and the Participant or Indirect Participant. The Trustee shall mail such Definitive Notes to the Persons in whose names
such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(3)
shall not bear the Private Placement Legend.

 

    	40

    	 

    

(d)         
Transfer and Exchange of Definitive Notes for Beneficial Interests. Restricted Definitive Notes shall be exchanged
only for beneficial interests in Restricted Global Notes pursuant to this subsection (d).

 

(1)              
Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted Definitive
Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive
Note to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon receipt
by the Registrar of the following documentation:

 

(A)             
if the Holder of such Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted
Global Note, a duly completed Certificate of Exchange from such Holder, including the certifications in item (2)(b) thereof;

 

(B)             
if such Restricted Definitive Note is being transferred to a QIB in accordance with Rule 144A, a duly completed Certificate
of Transfer, including the certifications in item (1) thereof;

 

(C)             
if such Restricted Definitive Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance
with Rule 903 or Rule 904, a duly completed Certificate of Transfer, including the certifications in item (2) thereof;

 

(D)             
if such beneficial interest is being transferred to an Institutional Accredited Investor, a duly completed Certificate of
Transfer, including the certifications in item (3) thereof;

 

(E)              
if such Restricted Definitive Note is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule 144, a duly completed Certificate of Transfer, including the certifications in item (4)(a) thereof;

 

(F)              
if such Restricted Definitive Note is being transferred to the Issuer or any of its Restricted Subsidiaries, a duly completed
Certificate of Transfer, including the certifications in item (4)(b) thereof; or

 

(G)             
if such Restricted Definitive Note is being transferred pursuant to an effective registration statement under the Securities
Act, pursuant to the Registration Rights Agreement or otherwise, a duly completed Certificate of Transfer, including the certifications
in item (4)(c) thereof, and the Trustee shall cancel the Restricted Definitive Note, increase or cause to be increased the
aggregate principal amount of, in the case of clause (A) above, the applicable Restricted Global Note, in the case of clause (B)
above, the applicable 144A Global Note, in the case of clause (C) above, the applicable Regulation S Global Note, and in the
case of clause (D) above, the applicable IAI Global Note.

 

(2)              
Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of a Restricted Definitive
Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note
to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note only if:

 

(A)             
such exchange or transfer is effected pursuant to an Exchange Offer, if any, in accordance with a Registration Rights Agreement
and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable

 

    	41

    	 

    

Letter of Transmittal
that it is not (i) a Broker-Dealer who acquired directly from the Issuer, (ii) a Person participating in the distribution
of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Issuer;

 

(B)             
such transfer is effected pursuant to the Shelf Registration Statement in accordance with a Registration Rights Agreement;

 

(C)             
such transfer is effected by a Broker-Dealer pursuant to any Exchange Offer Registration Statement in accordance with a
Registration Rights Agreement; or

 

(D)             
the Registrar receives (1) if the Holder of such Definitive Notes proposes to exchange such Notes for a beneficial
interest in the Unrestricted Global Note, a duly completed Certificate of Exchange from such Holder, including the certifications
in item (1)(c) thereof; or (2) if the Holder of such Definitive Notes proposes to transfer such Notes to a Person who
shall take delivery thereof in the form of a beneficial interest in the Unrestricted Global Note, a duly completed Certificate
of Transfer from such Holder, including the certifications in item (5) thereof; and, in each case set forth in this clause
(D), if the Registrar or the Issuer so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably
acceptable to the Registrar and the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act
and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain
compliance with the Securities Act.

 

Upon satisfaction of
the conditions of any of the subparagraphs in this Section 2.06(d)(2), the Trustee shall cancel the Definitive Notes and
increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note.

 

(3)              
Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted Definitive
Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person
who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time. Upon receipt of a request
for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Note and increase or cause to
be increased the aggregate principal amount of one of the Unrestricted Global Notes.

 

If any such exchange
or transfer from a Definitive Note to a beneficial interest is effected pursuant to subsection (2)(B), (2)(D) or (3) above of this
Section 2.06(d) at a time when an Unrestricted Global Note has not yet been issued, the Issuer shall issue and, upon
receipt of an Authentication Order in accordance with Section 2.02, the Trustee shall authenticate one or more Unrestricted
Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred.

 

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(e)         
Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and
such Holder’s compliance with the provisions of this Section 2.06(e), the Registrar shall register the transfer or
exchange of Definitive Notes. Definitive Notes shall be exchanged only for Definitive Notes pursuant to this subsection (e). Prior
to such registration of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the Definitive
Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by
such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder shall provide any additional certifications,
documents and information, as applicable, required pursuant to the following provisions of this Section 2.06(e):

 

(1)              
Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted Definitive Note may be transferred to
and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives
the following:

 

(A)             
if the transfer will be made pursuant to a QIB in accordance with Rule 144A, then the transferor must deliver a duly completed
Certificate of Transfer, including the certifications in item (1) thereof;

 

(B)             
if the transfer will be made pursuant to Rule 903 or Rule 904 then the transferor must deliver a duly completed Certificate
of Transfer, including the certifications in item (2) thereof; or

 

(C)             
if such beneficial interest is being transferred to an Institutional Accredited Investor, a duly completed Certificate of
Transfer, including the certifications in item (3) thereof, and a duly completed Institutional Accredited Investor Certificate;

 

(D)             
if the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act, then
the transferor must deliver a duly completed Certificate of Transfer, including the certifications required by item (4) thereof,
if applicable.

 

(2)              
Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by
the Holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form
of an Unrestricted Definitive Note if:

 

(A)             
such exchange or transfer is effected pursuant to an Exchange Offer, if any, in accordance with a Registration Rights Agreement
and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of
Transmittal that it is not (i) a Broker-Dealer who acquired directly from the Issuer, (ii) a Person participating in
the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Issuer;

 

(B)             
any such transfer is effected pursuant to the Shelf Registration Statement in accordance with a Registration Rights Agreement;

 

(C)             
any such transfer is effected by a Broker-Dealer pursuant to any Exchange Offer Registration Statement in accordance with
a Registration Rights Agreement; or

 

(D)             
the Registrar receives the following (1) if the Holder of such Restricted Definitive Notes proposes to exchange such
Notes for an Unrestricted Definitive Note, a duly completed Certificate of Exchange from such Holder, including the certifications
in item (1)(d) thereof; or (2) if the Holder of such Restricted Definitive

 

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Notes proposes
to transfer such Notes to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a duly completed
Certificate of Transfer from such Holder, including the certifications in item (5) thereof; and, in each case set forth in
this clause (D), if the Registrar or the Issuer so requests, an Opinion of Counsel in form reasonably acceptable to the Registrar
and the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions
on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the
Securities Act.

 

(3)              
Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder of Unrestricted Definitive Notes may transfer
such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to
register such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the instructions from the
Holder thereof.

 

(f)     
     Exchange Offer. Upon the occurrence of an Exchange Offer in accordance with the
applicable Registration Rights Agreement, the Issuer shall issue and, upon receipt of an Authentication Order in accordance
with Section 2.02, the Trustee shall authenticate (i) one or more Unrestricted Global Notes in an aggregate
principal amount equal to the principal amount of the beneficial interests in the Restricted Global Notes tendered for
acceptance by Persons that certify in the applicable Letter of Transmittal that (A) they are not Broker-Dealers who
acquired directly from the Issuer, (B) they are not participating in a distribution of the Exchange Notes and
(C) they are not affiliates (as defined in Rule 144) of the Issuer and (ii) Unrestricted Definitive Notes in an
aggregate principal amount equal to the principal amount of the Restricted Definitive Notes tendered for acceptance by
Persons that certify in the applicable Letter of Transmittal that (A) they are not Broker-Dealers, (B) they are not
participating in a distribution of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the
Issuer and accepted for exchange in the Exchange Offer. Concurrently with the issuance of such Notes, the Trustee shall
cause the aggregate principal amount of the applicable Restricted Global Notes to be reduced accordingly, and the Issuer
shall execute and the Trustee shall authenticate and deliver to the Persons designated by the Holders of Definitive Notes so
accepted Unrestricted Definitive Notes in the applicable principal amount. Any Initial Notes that remain outstanding after
the consummation of an Exchange Offer, and Exchange Notes issued in connection with an Exchange Offer, shall be treated as a
single class of securities under this Indenture.

 

(g)         
Legends. The following legends shall appear on the face of all Global Notes and Definitive Notes issued under this
Indenture unless specifically stated otherwise in the applicable provisions of this Indenture:

 

(1)              
Private Placement Legend.

 

(A)             
Except as permitted by subparagraph (B) below, each Global Note and each Definitive Note (and all Notes issued in exchange
therefor or substitution thereof) shall bear the legend in substantially the following form:

 

“THIS NOTE HAS
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED,
SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL
INTEREST HEREIN, THE ACQUIRER (1) REPRESENTS THAT (A) IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED
INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT
DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, (B) IT IS AN INSTITUTIONAL “ACCREDITED 

 

    	44

    	 

    

INVESTOR”
(WITHIN THE MEANING OF RULE 501(a) (1), (2), (3) OR (7) UNDER THE SECURITIES ACT) (AN “INSTITUTIONAL ACCREDITED
INVESTOR”) OR (C) IT IS NOT A U.S. PERSON (WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT) AND
(2) AGREES FOR THE BENEFIT OF THE ISSUER THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS NOTE OR ANY BENEFICIAL
INTEREST HEREIN, EXCEPT IN ACCORDANCE WITH THE SECURITIES ACT AND ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
AND ONLY (A) TO THE ISSUER OR ANY OF ITS SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE
UNDER THE SECURITIES ACT, (C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (D) IN
AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (E) IN A PRINCIPAL AMOUNT OF
NOT LESS THAN $100,000, TO AN INSTITUTIONAL ACCREDITED INVESTOR THAT, PRIOR TO SUCH TRANSFER, DELIVERS TO THE TRUSTEE A DULY COMPLETED
AND SIGNED CERTIFICATE (THE FORM OF WHICH MAY BE OBTAINED FROM THE REGISTRAR) RELATING TO THE RESTRICTIONS ON TRANSFER OF THIS
NOTE, OR (F) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR ANY
OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. PRIOR TO THE REGISTRATION OF ANY TRANSFER IN
ACCORDANCE WITH (2)(C) ABOVE OR (2)(D) ABOVE, A DULY COMPLETED AND SIGNED CERTIFICATE (THE FORM OF WHICH MAY BE OBTAINED
FROM THE REGISTRAR) MUST BE DELIVERED TO THE REGISTRAR. PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (2)(E) OR
(F) ABOVE, THE ISSUER RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE
AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES
ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY RULE 144 EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT.”

 

(B)             
Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to subparagraph (b)(4), (c)(2), (c)(3),
(d)(2), (d)(3), (e)(2) or (e)(3) of this Section 2.06 (and all Notes issued in exchange therefor or substitution thereof)
shall not bear the Private Placement Legend.

 

(2)              
Global Note Legend. Each Global Note shall bear a legend in substantially the following form (with appropriate changes
in the last sentence if DTC is not the Depositary):

 

“THIS GLOBAL
NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE
BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE
SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06(H) OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED
IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(A) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE
FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY
WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM,
THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY
TO THE DEPOSITARY OR ANOTHER

 

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NOMINEE OF THE DEPOSITARY
OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”)
TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
HAS AN INTEREST HEREIN.”

 

(h)         
Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note
have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not
in part, each such Global Note shall be returned to or retained and canceled by the Trustee in accordance with Section 2.11.
At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person
who will take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the principal
amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note
by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is
being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global
Note, such other Global Note shall be increased accordingly and an endorsement shall be made on such Global Note by the Trustee
or by the Depositary at the direction of the Trustee to reflect such increase.

 

(i)           
General Provisions Relating to Transfers and Exchanges.

 

(1)              
To permit registrations of transfers and exchanges, the Issuer shall execute and the Trustee shall authenticate Global Notes
and Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.02 or at the Registrar’s
request.

 

(2)              
No service charge shall be made to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note
for any registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer tax
or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge
payable upon exchange or transfer pursuant to Sections 2.07, 2.10, 3.06, 3.09, 4.10, 4.14
and 9.04).

 

(3)              
All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive
Notes shall be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture,
as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

 

(4)              
Neither the Issuer nor the Registrar shall be required (A) to issue, to register the transfer of or to exchange any
Notes during a period beginning at the opening of business 15 days before the day of any selection of Notes for redemption under
Section 3.02 and ending at the close of business on the day of selection or (B) to register the transfer of or to exchange
any Note so selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part.

 

(5)              
Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Issuer 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 premium, if

 

    	46

    	 

    

any) and interest
on such Notes and for all other purposes, and none of the Trustee, any Agent or the Issuer shall be affected by notice to the contrary.

 

(6)              
Upon surrender for registration of transfer of any Note at the office or agency of the Issuer designated pursuant to Section
4.02, the Issuer shall execute, and the Trustee shall authenticate and mail, in the name of the designated transferee or transferees,
one or more replacement Notes of any authorized denomination or denominations of a like aggregate principal amount.

 

(7)              
At the option of the Holder, Notes may be exchanged for other Notes of any authorized denomination or denominations of a
like aggregate principal amount upon surrender of the Notes to be exchanged at such office or agency. Whenever any Global Notes
or Definitive Notes are so surrendered for exchange, the Issuer shall execute, and the Trustee shall authenticate and mail, the
replacement Global Notes and Definitive Notes which the Holder making the exchange is entitled to in accordance with the provisions
of Section 2.02.

 

(8)              
All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section
2.06 to effect a registration of transfer or exchange may be submitted by facsimile.

 

(9)              
The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on
transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including
any transfers between or among Depositary Participants or beneficial owners of interests in any Global Notes) other than to require
delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly
required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express
requirements hereof.

 

(10)          
Neither the Trustee nor any Agent shall have any responsibility or liability for any actions taken or not taken by the Depositary.

 

Section 2.07        
Replacement Notes. If any mutilated Note is surrendered to the Trustee, the Registrar or the Issuer and the
Trustee receives evidence to its satisfaction of the ownership and destruction, loss or theft of any Note, the Issuer shall issue
and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement Note if the Trustee’s requirements
are met. An indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee to protect the Trustee
and in the judgment of the Issuer to protect the Issuer, the Trustee, any Agent and any authenticating agent from any loss that
any of them may suffer if a Note is replaced. The Issuer may charge for its expenses (including the expenses of the Trustee) in
replacing a Note.

 

Every replacement Note
is a contractual obligation of the Issuer and shall be entitled to all of the benefits of this Indenture equally and proportionately
with all other Notes duly issued hereunder.

 

Section 2.08        
Outstanding Notes. The Notes outstanding at any time are all the Notes authenticated by the Trustee except for
those canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note effected by the
Trustee in accordance with the provisions hereof, and those described in this Section 2.08 as not outstanding. Except as
set forth in Section 2.09, a Note does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds
the Note.

 

If a Note is replaced
pursuant to Section 2.07, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced
Note is held by a bona fide purchaser.

 

If the principal amount
of any Note is considered paid under Section 4.01, it ceases to be outstanding and interest on it ceases to accrue.

 

    	47

    	 

    

If the Paying Agent
(other than the Issuer, a Subsidiary of the Issuer or an Affiliate of any thereof) holds, on a Redemption Date or maturity date,
money sufficient to pay Notes payable on that date, then on and after that date such Notes shall be deemed to be no longer outstanding
and shall cease to accrue interest.

 

Section 2.09        
Treasury Notes. In determining whether the Holders of the required principal amount of Notes have concurred
in any direction, waiver or consent, Notes owned by the Issuer, or by any Affiliate of the Issuer, shall be considered as though
not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction,
waiver or consent, only Notes that a Responsible Officer of the Trustee knows are so owned shall be so disregarded. Notes so owned
which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the
pledgee’s right to deliver any such direction, waiver or consent with respect to the Notes and that the pledgee is not the
Issuer or any obligor upon the Notes or any Affiliate of the Issuer or of such other obligor.

 

Section 2.10        
Temporary Notes. Until certificates representing Notes are ready for delivery, the Issuer may prepare and the
Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes. Temporary Notes shall be substantially in
the form of certificated Notes but may have variations that the Issuer consider appropriate for temporary Notes and as shall be
reasonably acceptable to the Trustee. Without unreasonable delay, the Issuer shall prepare and the Trustee shall authenticate
definitive Notes in exchange for temporary Notes.

 

Holders and beneficial
holders, as the case may be, of temporary Notes shall be entitled to all of the benefits accorded to Holders, or beneficial holders,
respectively, of Notes under this Indenture.

 

Section 2.11        
Cancellation. The Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying
Agent shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee
or, at the direction of the Trustee, the Registrar or the Paying Agent and no one else shall cancel all Notes surrendered for
registration of transfer, exchange, payment, replacement or cancellation and shall dispose of cancelled Notes (subject to the
record retention requirement of the Exchange Act in accordance with its customary procedures). Certification of the disposal of
all cancelled Notes shall be delivered to the Issuer upon its written request. The Issuer may not issue new Notes to replace Notes
that they have paid or that have been delivered to the Trustee for cancellation.

 

Section 2.12        
Defaulted Interest. If the Issuer defaults in a payment of interest on the Notes, it shall pay the defaulted
interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest to the Persons who are Holders
of Notes on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01. The Issuer
shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed
payment, and at the same time the Issuer shall deposit with the Trustee, an amount of money equal to the aggregate amount proposed
to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee, for such deposit prior
to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to
such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed each such special
record date and payment date; provided that no such special record date shall be less than 10 days prior to the related
payment date for such defaulted interest. The Issuer shall promptly notify the Trustee of such special record date. At least 15
days before the special record date, the Issuer (or, upon the written request of the Issuer made at least 1 Business Day prior
to the date on which notice is to be sent (or such shorter period as agreed to by the Trustee), the Trustee, in the name and at
the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid or delivered electronically in accordance
with the Applicable Procedures, to each

 

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Holder a notice at his or her address as
it appears in the Note Register that states the special record date, the related payment date and the amount of such interest to
be paid.

 

Subject to the foregoing
provisions of this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of
transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue,
which were carried by such other Note.

 

Section 2.13        
CUSIP/ISIN Numbers. The Issuer in issuing the Notes may use CUSIP or ISIN numbers, as applicable, (if then generally
in use) and, if so, the Trustee shall use CUSIP or ISIN numbers, as applicable, in notices of redemption as a convenience to Holders;
provided that any such notice may state that no representation is made as to the correctness of such numbers either as
printed on the Notes or as contained in any notice of redemption and that reliance may be placed only on the other identification
numbers printed on the Notes, and any such redemption shall not be affected by any defect in or omission of such numbers. The
Issuer will as promptly as practicable notify the Trustee in writing of any change in the CUSIP or ISIN numbers, as applicable.

 

Article
III

REDEMPTION

 

Section 3.01        
Notices to Trustee. If the Issuer elects to redeem Notes pursuant to Section 3.07, it shall furnish
to the Trustee, at least 5 Business Days before notice of redemption is required to be given or caused to be given to the applicable
Holders pursuant to Section 3.03 (unless a shorter notice shall be agreed to by the Trustee) but not more than 60 days
before a Redemption Date, an Officer’s Certificate setting forth (i) the section of this Indenture pursuant to which
the redemption shall occur, (ii) the Redemption Date, (iii) the principal amount of the Notes to be redeemed and (iv) the
redemption price (or manner of calculation if not then known).

 

Section 3.02        
Selection of Notes to Be Redeemed or Purchased. If fewer than all of the Notes are to be redeemed or purchased
in an offer to purchase at any time, the Trustee shall select the Notes to be redeemed or purchased (a) if the Notes are
listed on any national securities exchange (and the Issuer has advised the Trustee of such listing), in compliance with the requirements
of the principal national securities exchange on which the Notes are listed, (b) on a pro rata basis to the extent
practicable or (c) by lot or such other similar method in accordance with the Applicable Procedures. In the event of partial
redemption or purchase by lot, the particular Notes to be redeemed or purchased shall be selected, unless otherwise provided herein,
not less than 30 nor more than 60 days prior to the Redemption Date by the Trustee from the outstanding Notes not previously called
for redemption or purchase.

 

The Trustee shall promptly
notify the Issuer in writing of the Notes selected for redemption or purchase and, in the case of any Note selected for partial
redemption or purchase, the principal amount thereof to be redeemed or purchased. Notes and portions of Notes selected shall be
in amounts of $2,000 or whole multiples of $1,000 in excess thereof; no Notes of $2,000 or less can be redeemed in part, except
that if all of the Notes of a Holder are to be redeemed or purchased, the entire outstanding amount of Notes held by such Holder,
even if not a multiple of $1,000, shall be redeemed or purchased. Except as provided in the preceding sentence, provisions of this
Indenture that apply to Notes called for redemption or purchase also apply to portions of Notes called for redemption or purchase.

 

Section 3.03        
Notice of Redemption. Subject to Section 3.09, the Issuer shall deliver in accordance with the Applicable
Procedures or mail or cause to be mailed by first-class mail, postage prepaid, notices of redemption at least 30 days but not
more than 60 days before the Redemption Date to each Holder of Notes to be redeemed at such Holder’s registered address,
except that redemption notices

 

    	49

    	 

    

may be sent more than 60 days prior to
a Redemption Date if the notice is issued in connection with Article VIII or Article XI.

 

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

 

(a)          
the Redemption Date;

 

(b)          
the redemption price;

 

(c)          
if any Note is to be redeemed in part only, the portion of the principal amount of that Note that is to be redeemed and
that, after the Redemption Date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion
of the original Note representing the same indebtedness to the extent not redeemed will be issued in the name of the Holder of
the Notes upon cancellation of the original Note;

 

(d)     
     the name and address of the Paying Agent;

 

(e)           
that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

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

 

(g)          
the section of this Indenture pursuant to which the Notes called for redemption are being redeemed;

 

(h)          
that no representation is made as to the correctness or accuracy of the CUSIP or ISIN number, as applicable, if any, listed
in such notice or printed on the Notes; and

 

(i)      
     if such redemption or purchase is subject to satisfaction of one or more conditions
precedent, a description of each condition to such redemption or purchase and, if applicable, that, in the Issuer’s
discretion, the Redemption Date may be delayed until such time as any or all such conditions shall be satisfied, or such
redemption or purchase may not occur and such notice may be rescinded in the event that any or all such conditions shall not
have been satisfied by the redemption date, or by the redemption date as so delayed, and that, in the Issuer’s
discretion, payment of the redemption price and performance of the Issuer’s obligations with respect to such redemption
may be performed by another Person.

 

At the Issuer’s
request, the Trustee shall give the notice of redemption in the Issuer’s name and at its expense; provided that the
Issuer shall have delivered to the Trustee, at least 5 Business Days before notice of redemption is required to be given or caused
to be given to Holders pursuant to this Section 3.03 (unless a shorter notice shall be agreed to by the Trustee), an
Officer’s Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such
notice as provided in the preceding paragraph.

 

Section 3.04        
Effect of Notice of Redemption. Once notice of redemption is given in accordance with Section 3.03 and
any conditions thereto are satisfied, Notes called for redemption become irrevocably due and payable on the Redemption Date at
the redemption price (except as provided for in Section 3.03(i) and Section 3.07(d)). The notice, if given
in a manner herein provided, shall be conclusively presumed to have been given, whether or not the Holder receives such notice.
In any case, failure to give such notice or any defect in the notice to the Holder of any Note designated for redemption in whole
or in part shall not affect the validity of the proceedings for the redemption of any other Note.

 

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Subject to Section 3.05, on and
after the Redemption Date, interest ceases to accrue on Notes or portions of Notes called for redemption.

 

Section 3.05        
Deposit of Redemption or Repurchase Price. Prior to 12:00 p.m. (New York City time) on the redemption or purchase
date, the Issuer shall deposit with the Paying Agent an amount of money, in immediately available funds, sufficient to pay the
redemption or purchase price of and accrued and unpaid interest on all Notes to be redeemed or repurchased on that date. The Paying
Agent shall promptly return to the Issuer any money deposited with the Paying Agent by the Issuer in excess of the amounts necessary
to pay the redemption price of, and accrued and unpaid interest on, all Notes to be redeemed or repurchased.

 

If the Issuer complies
with the provisions of the preceding paragraph and any conditions thereto are satisfied, on and after the Redemption Date or Repurchase
Date, interest shall cease to accrue on the Notes, or the portions of Notes, as applicable, called for redemption or purchase.
If a Note is redeemed or repurchased on or after a Record Date but on or prior to the related Interest Payment Date, then any accrued
and unpaid interest to the redemption or Repurchase Date shall be paid to the Person in whose name such Note was registered at
the close of business on such Record Date, and no additional interest will be payable to Holders whose Notes are so redeemed or
repurchased. If any Note called for redemption or repurchase shall not be so paid upon surrender for redemption or purchase because
of the failure of the Issuer to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the Redemption
Date or Repurchase Date until such principal is paid, and to the extent lawful on any interest accrued to the Redemption Date or
Repurchase Date not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01.

 

Section 3.06        
Notes Redeemed or Purchased in Part. Upon surrender of a Note that is redeemed or repurchased in part, the Issuer
shall issue and the Trustee shall authenticate for the Holder at the expense of the Issuer a new Note equal in principal amount
to the unredeemed or unpurchased portion of the Note surrendered representing the same indebtedness to the extent not redeemed
or purchased; provided that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in
excess thereof. It is understood that, notwithstanding anything in this Indenture to the contrary, only an Authentication Order
and not an Opinion of Counsel or Officer’s Certificate is required for the Trustee to authenticate such new Note.

 

Section 3.07        
Optional Redemption. Except as set forth below in this Section 3.07, the Issuer will not be entitled
to redeem the Notes at its option prior to July 15, 2018.

 

(a)          
At any time prior to July 15, 2018, the Issuer may on one or more occasions redeem the Notes, in whole or in part, at a
redemption price equal to 100% of the principal amount of the Notes being redeemed plus the Applicable Premium as of the date of
redemption (the “Redemption Date”), and accrued and unpaid interest, if any, to, but excluding, the Redemption
Date, subject to the rights of Holders on the relevant Record Date to receive interest due on the relevant Interest Payment Date
in accordance with Section 3.05.

 

(b)      
    On and after July 15, 2018, the Issuer may on one or more occasions redeem the Notes, in whole or
in part, at the redemption prices (expressed as percentages of principal amount of the Notes to be redeemed) set forth below,
plus accrued and unpaid interest, if any, thereon to, but excluding, the applicable Redemption Date, subject to the rights of
Holders on the relevant Record Date to receive interest due on the relevant Interest Payment Date in accordance with Section 3.05,
if redeemed during the twelve-month period beginning on July 15, 2018 of each of the years indicated below:

 

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        Year 
	
        Optional Redemption
Price 

	2018	104.406%   
	2019	102.938%   
	2020	101.469%   
	2021 and thereafter	100.000%   

 

(c)         
In addition, prior to July 15, 2018, the Issuer may, at its option, on one or more occasions, redeem up to 35% of the aggregate
principal amount of Notes issued by it at a redemption price equal to 105.875% of the aggregate principal amount thereof plus accrued
and unpaid interest, if any, thereon to, but excluding, the applicable Redemption Date, subject to the rights of Holders on the
relevant Record Date to receive interest due on the relevant Interest Payment Date in accordance with Section 3.05,
with the net cash proceeds of one or more Equity Offerings; provided that at least 50% of the aggregate principal amount
of Notes issued under this Indenture (giving effect to the issuance of any Additional Notes) remains outstanding immediately after
the occurrence of each such redemption; provided further that each such redemption occurs within 120 days of the date of
closing of each such Equity Offering.

 

(d)          
Notice of any redemption of the Notes in connection with a corporate transaction (including an Equity Offering, an incurrence
of Indebtedness or a Change of Control) may, at the Issuer’s discretion, be given prior to the completion thereof and any
such redemption or notice may, at the Issuer’s discretion, be subject to one or more conditions precedent, including, but
not limited to, completion of the related transaction.

 

(e)          
Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of Sections 3.01
through 3.06 hereof.

 

Section 3.08        
Mandatory Redemption. The Issuer shall not be required to make mandatory redemption or sinking fund payments
with respect to the Notes. The Issuer and its Affiliates may acquire Notes by means other than a redemption, whether by tender
offer, open market purchases, negotiated transactions or otherwise, in accordance with applicable securities laws, so long as
such acquisition does not otherwise violate the terms of this Indenture.

 

Section 3.09        
Offers to Repurchase by Application of Excess Proceeds. (a) In the event that, pursuant to Section 4.10,
the Issuer shall be required to commence an Asset Sale Offer, it shall follow the procedures specified below.

 

(b)          
The Asset Sale Offer shall remain open for a period of 20 Business Days following its commencement and no longer, except
to the extent that a longer period is required by applicable law (the “Offer Period”). No later than five Business
Days after the termination of the Offer Period (the “Repurchase Date”), the Issuer shall apply all Excess Proceeds
(the “Offer Amount”) to the purchase of Notes and, if required, Pari Passu Indebtedness (on a pro rata
basis, if applicable), or, if less than the Offer Amount has been tendered, all Notes and Pari Passu Indebtedness tendered in response
to the Asset Sale Offer. Payment for any Notes so purchased shall be made in the same manner as interest payments are made.

 

(c)          
Upon the commencement of an Asset Sale Offer, the Issuer shall send, electronically or by first-class mail, a notice to
each of the Holders, with a copy to the Trustee and Agents. The notice shall contain all instructions and materials necessary to
enable such Holders to tender Notes pursuant to the Asset Sale Offer. The Asset Sale Offer shall be made to all Holders and holders
of Pari Passu Indebtedness. The notice, which shall govern the terms of the Asset Sale Offer, shall state:

 

(1)              
that the Asset Sale Offer is being made pursuant to this Section 3.09 and Section 4.10 and the length of time
the Asset Sale Offer shall remain open;

 

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(2)              
the Offer Amount, the repurchase price and the Repurchase Date;

 

(3)              
that any Note not tendered or accepted for payment shall continue to accrue interest;

 

(4)              
that, unless the Issuer defaults in making such payment, any Note accepted for payment pursuant to the Asset Sale Offer
shall cease to accrue interest after the Repurchase Date;

 

(5)              
that Holders electing to have a Note repurchased pursuant to an Asset Sale Offer may elect to have Notes repurchased in
denominations of $2,000 and integral multiples of $1,000 in excess of $2,000;

 

(6)              
that Holders electing to have a Note repurchased pursuant to any Asset Sale Offer shall be required to surrender the Note,
with the form entitled “Option of Holder to Elect Repurchase” attached to the Note completed, or transfer by
book-entry transfer, to the Issuer, the Depositary, if appointed by the Issuer, or a Paying Agent at the address specified in the
notice at least three days before the Repurchase Date;

 

(7)              
that Holders shall be entitled to withdraw their election if the Issuer, the Depositary or the Paying Agent, as the case
may be, receive, not later than the expiration date of the Offer Period, a telegram, facsimile transmission or letter setting forth
the name of the Holder, the principal amount of the Note the Holder delivered for repurchase and a statement that such Holder is
withdrawing his election to have such Note repurchased;

 

(8)              
that, if the aggregate principal amount of Notes and Pari Passu Indebtedness surrendered by the holders thereof exceeds
the Offer Amount, the Issuer shall select the Notes and such Pari Passu Indebtedness to be repurchased on a pro rata basis
based on the accreted value or principal amount of the Notes and such Pari Passu Indebtedness tendered or by lot or such similar
method in accordance with the Applicable Procedures (with such adjustments as may be deemed appropriate by the Issuer so that only
Notes in denominations of $2,000, or integral multiples of $1,000 in excess of $2,000, shall be purchased); and

 

(9)              
that Holders whose Notes were purchased only in part shall be issued new Notes equal in principal amount to the unrepurchased
portion of the Notes surrendered (or transferred by book-entry transfer) representing the same indebtedness to the extent not repurchased.

 

(d)          
On or before the Repurchase Date, the Issuer shall, to the extent lawful, (1) accept for payment, on a pro rata basis
to the extent necessary, the Offer Amount of Notes or portions thereof validly tendered pursuant to the Asset Sale Offer, or if
less than the Offer Amount has been tendered, all Notes tendered and (2) deliver or cause to be delivered to the Trustee the
Notes properly accepted together with an Officer’s Certificate stating the aggregate principal amount of Notes or portions
thereof so tendered.

 

(e)         
The Issuer, the Depositary or the Paying Agent, as the case may be, shall promptly mail or deliver to each tendering Holder
an amount equal to the repurchase price of the Notes properly tendered by such Holder and accepted by the Issuer for purchase,
and the Issuer shall promptly issue a new Note, and the Trustee, upon receipt of an Authentication Order, shall authenticate and
mail or deliver (or cause to be transferred by book-entry) such new Note to such Holder (it being understood that, notwithstanding
anything in this Indenture to the contrary, no Opinion of Counsel or Officer’s Certificate is required for the Trustee to
authenticate and mail or deliver such new Note) in a principal amount equal to any unrepurchased portion of the Note surrendered
representing the same indebtedness to the extent not repurchased; provided, that each such new Note shall be in a principal
amount of $2,000 or an integral

 

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multiple of $1,000
in excess of $2,000. Any Note not so accepted shall be promptly mailed or delivered by the Issuer to the Holder thereof. The Issuer
shall publicly announce the results of the Asset Sale Offer on or as soon as practicable after the Repurchase Date.

 

(f)          
Other than as specifically provided in this Section 3.09 or Section 4.10, any repurchase pursuant to this
Section 3.09 shall be made pursuant to the applicable provisions of Sections 3.01 through 3.06.

 

Article
IV

COVENANTS

 

Section 4.01        
Payment of Notes. The Issuer shall pay or cause to be paid the principal of, premium, if any, and interest on
the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest shall be considered paid
on the date due if the Paying Agent, if other than the Issuer or a Subsidiary, holds as of 12:00 p.m. (New York City time) on
the due date money deposited by the Issuer in immediately available funds and designated for and sufficient to pay all principal,
premium, if any, and interest then due.

 

The Issuer shall pay
interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to
the then applicable interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition interest in
any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at
the same rate to the extent lawful.

 

Section 4.02        
Maintenance of Office or Agency. The Issuer shall maintain the office or agency required under Section 2.03
where Notes may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Issuer
in respect of the Notes and this Indenture may be served. The Issuer shall give prompt written notice to the Trustee of the location,
and any change in the location, of such office or agency. If at any time the Issuer 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; provided that no service of legal process may be made upon
the Issuer at the Corporate Trust Office of the Trustee.

 

The Issuer may also
from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations; provided that no such designation or rescission
shall in any manner relieve the Issuer of its obligation to maintain an office or agency required under Section 2.03. The
Issuer shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location
of any such other office or agency.

 

The Issuer hereby designates
the Corporate Trust Office of the Trustee as one such office or agency of the Issuer in accordance with Section 2.03.

 

Section 4.03        
Reports and Other Information. Notwithstanding that the Issuer may not be subject to the reporting requirements
of Section 13 or 15(d) of the Exchange Act or otherwise report on an annual and quarterly basis on forms provided for such annual
and quarterly reporting pursuant to rules and regulations promulgated by the SEC as required by Section 13 or 15(d) of the Exchange
Act, the Issuer shall file with the SEC (and make available, without exhibits and without cost, to (i) any Holder of the Notes,
upon their written request, and (ii) the Trustee upon its written request, in each case, within 15 days after it files them with
the SEC, to the extent not publicly available on the SEC’s EDGAR system or the Issuer’s public website) from and after
the Issue Date:

 

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(1)              
within the time period then in effect under the rules and regulations of the Exchange Act with respect to the filing of
a Form 10-K for a non-accelerated filer, annual reports on Form 10-K, or any successor or comparable form, containing the information
required to be contained therein, or required in such successor or comparable form;

 

(2)              
within the time period then in effect under the rules and regulations of the Exchange Act with respect to the filing of
a Form 10-Q for a non-accelerated filer, for each of the first three fiscal quarters of each fiscal year, reports on Form 10-Q
containing all quarterly information that would be required to be contained in Form 10-Q, or any successor or comparable form;

 

(3)              
within the time period then in effect under the rules and regulations of the Exchange Act with respect to the filing of
a Form 8-K, after the occurrence of an event required to be therein reported, such other reports on Form 8-K, or any successor
or comparable form; and

 

(4)              
any other information, documents and other reports which the Issuer would be required to file with the SEC if it were subject
to Section 13 or 15(d) of the Exchange Act;

 

in each case, in a manner that complies
in all material respects with the requirements specified in such form; provided that the Issuer shall not be so obligated
to file such reports with the SEC if the SEC does not permit such filing, in which event the Issuer shall post on its website within
15 days after the time the Issuer would be required to file such information with the SEC, if it were subject to Section 13
or 15(d) of the Exchange Act.

 

Unless the Issuer is
otherwise obligated to do so under the Exchange Act or the rules and regulations promulgated by the SEC thereunder, such reports
referred to in clauses (1) through (4) above shall not be required:

 

(a)          
to comply with Section 302 or Section 404 of the Sarbanes-Oxley Act of 2002, or related Items 307 and 308 of Regulation S-K
promulgated by the SEC;

 

(b)         
to contain the separate financial information for Guarantors as contemplated by Rule 3-10 of Regulation S-X or any
financial statements of unconsolidated subsidiaries or 50% or less owned Persons as contemplated by Rule 3-09 of Regulation S-X
or any schedules required by Regulation S-X, or in each case any successor provisions, or “segment reporting”
and the “Compensation Discussion and Analysis” required by Item 402(b) of Regulation S-K relating
to the business acquired in the Acquisition (it being understood that the Issuer shall furnish summary financial information with
respect to Guarantors and non-Guarantors on a basis substantially consistent with the financial information presented in the fourth
sentence of the third paragraph under “Description of Notes—Guarantees” in the Offering Memorandum); or

 

(c)          
to comply with Regulation G under the Exchange Act or Item 10(e) of Regulation S-K with respect to any non-GAAP
financial measures contained therein.

 

In the event that:

 

(A)    
     the rules and regulations of the SEC permit the Issuer and any direct or indirect parent of
the Issuer to report at such parent entity’s level on a consolidated basis and such parent entity is not engaged in any
business in any material respect other than incidental to its ownership, directly or indirectly, of the capital stock of the
Issuer, or

 

(B)         
any direct or indirect parent of the Issuer is or becomes a Guarantor of the Notes,

 

consolidating reporting at the parent entity’s
level in a manner consistent with that described in this Section 4.03 for the Issuer will satisfy this Section 4.03,
and the Issuer shall be permitted to satisfy its

 

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obligations under this Section 4.03
with respect to financial information relating the Issuer by furnishing financial information relating to such direct or indirect
parent; provided that such financial information is accompanied by consolidating information that explains in reasonable
detail the differences between the information relating to such direct or indirect parent and any of its Subsidiaries other than
the Issuer and its Subsidiaries, on the one hand, and the information relating to the Issuer and its Subsidiaries on a standalone
basis, on the other hand.

 

To the extent any such
reports referred to in clauses (1) through (4) above is not so filed or furnished, as applicable, within the time periods
specified above and such reports are subsequently filed or furnished, as applicable, the Issuer shall be deemed to have satisfied
its obligations with respect thereto at such time and any Default with respect thereto shall be deemed to have been cured.

 

In addition, to the
extent not satisfied by the foregoing, the Issuer agrees that, for so long as any Notes are outstanding and constitute “restricted
securities” under Rule 144, it shall furnish to Holders and to securities analysts and prospective investors, upon their
request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.

 

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

 

Section 4.04        
Compliance Certificate. (a) The Issuer shall deliver to the Trustee, within 120 days after the end of each fiscal
year ending after the Issue Date, a certificate from the principal executive officer, principal financial officer or principal
accounting officer stating that, in the course of the performance by the signer of his or her duties as an officer, he or she
would normally have knowledge of any default by the Issuer in the performance of any of its obligations contained in this Indenture,
and that a review of the activities of the Issuer and the Restricted Subsidiaries during the preceding fiscal year has been made
under the supervision of the signing Officer with a view to determining whether the Issuer and the Restricted Subsidiaries have
kept, observed, performed and fulfilled their obligations under this Indenture, and further stating, as to such Officer signing
such certificate, that to the best of his or her knowledge the Issuer and the Restricted Subsidiaries have kept, observed, performed
and fulfilled each and every condition and covenant contained in this Indenture and is not in default in the performance or observance
of any of the terms, provisions, covenants and conditions of this Indenture (or, if a Default shall have occurred and is continuing,
describing all such Defaults of which he or she may have knowledge and what action the Issuer is taking or proposes to take with
respect thereto).

 

(b)               
When any Default has occurred and is continuing under this Indenture, or if the Trustee or the holder of any other evidence
of Indebtedness of the Issuer or any of its Restricted Subsidiaries gives any notice or takes any other action with respect to
a claimed Default, the Issuer shall promptly (which shall be no more than ten Business Days after becoming aware of any Default)
deliver to the Trustee by registered or certified mail or by facsimile transmission an Officer’s Certificate specifying such
Default, its status and what actions the Issuer is taking or proposes to take with respect thereto.

 

Section 4.05        
Taxes. The Issuer shall pay, and shall cause each of its Restricted Subsidiaries to pay, prior to delinquency,
all material taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate negotiations
or proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes.

 

Section 4.06        
Stay, Extension and Usury Laws. The Issuer and each of the Guarantors covenant (to the extent that they may
lawfully do so) that they shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage
of, any stay, extension or usury law

 

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wherever enacted, now or at any time hereafter
in force, that may affect the covenants or the performance of this Indenture; and the Issuer and each of the Guarantors (to the
extent that they may lawfully do so) hereby expressly waive all benefit or advantage of any such law, and covenant that they shall
not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer
and permit the execution of every such power as though no such law has been enacted.

 

Section 4.07        
Limitation on Restricted Payments. (a) The Issuer shall not, and shall not permit any of its Restricted
Subsidiaries to, directly or indirectly:

 

(1)              
declare or pay any dividend or make any payment or distribution on account of the Issuer’s or any of its Restricted
Subsidiaries’ Equity Interests, including any dividend, payment or distribution payable in connection with any merger or
consolidation other than:

 

(i)                
dividends or distributions payable by the Issuer solely in Equity Interests (other than Disqualified Stock) of the Issuer;
or

 

(ii)              
dividends or distributions by a Restricted Subsidiary so long as, in the case of any dividend, payment or distribution payable
on or in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly-Owned Subsidiary, the
Issuer or a Restricted Subsidiary receives at least its pro rata share of such dividend, payment or distribution in accordance
with its Equity Interests in such class or series of securities;

 

(2)              
purchase, redeem, defease or otherwise acquire or retire for value any Equity Interests of the Issuer, including in connection
with any merger or consolidation, held by Persons other than the Issuer or any Restricted Subsidiary of the Issuer;

 

(3)              
make any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for value in each case, prior
to any scheduled repayment, sinking fund payment or maturity, any Subordinated Indebtedness other than:

 

(i)                
Indebtedness permitted under clauses (7) and (8) of Section 4.09(b); or

 

(ii)              
the purchase, repurchase or other acquisition or redemption, defeasance or retirement for value of Subordinated Indebtedness
in anticipation of satisfying a sinking fund obligation, principal installment or final principal payment at maturity, in each
case due within one year of the date of purchase, repurchase or other acquisition or redemption, defeasance or retirement for value;
or

 

(4)              
make any Restricted Investment

 

(all such payments
and other actions set forth in clauses (1) through (4) above being collectively referred to as “Restricted Payments”),
unless, at the time of such Restricted Payment:

 

(A)             
no Default shall have occurred and be continuing or would occur as a consequence thereof;

 

(B)             
immediately after giving effect to such transaction on a pro forma basis, the Issuer could incur at least $1.00 of
additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.09(a); and

 

(C)             
such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Issuer and its
Restricted Subsidiaries after the

 

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Issue Date (including
Restricted Payments permitted by clauses (1) and (8) of subsection (b) of this Section 4.07, but excluding all other
Restricted Payments permitted by Section 4.07(b)), is less than the sum of (without duplication):

 

(1)              
50% of the Consolidated Net Income of the Issuer for the period (taken as one accounting period) from the beginning of the
fiscal quarter in which the Issue Date occurs to the end of the Issuer’s most recently ended fiscal quarter for which internal
financial statements are available at the time of such Restricted Payment or, in the case such Consolidated Net Income for such
period is a deficit, minus 100% of such deficit; plus

 

(2)              
100% of the aggregate net cash proceeds and the fair market value, as determined in good faith by the Issuer, of marketable
securities or other property received by the Issuer since immediately after the Issue Date from the issue or sale of Equity Interests
of the Issuer, including Treasury Capital Stock, but excluding cash proceeds and the fair market value, as determined in good faith
by the Issuer, of marketable securities or other property received from the sale of Equity Interests to members of management,
directors or consultants of the Issuer after the Issue Date to the extent such amounts have been applied to Restricted Payments
made in accordance with clause (4) of subsection (b) of this Section 4.07; provided that this clause (2)
shall not include the proceeds from (x) Refunding Capital Stock or (y) Equity Interests of the Issuer sold to a Restricted
Subsidiary; plus

 

(3)              
100% of the aggregate net cash proceeds and the fair market value, as determined in good faith by the Issuer, of marketable
securities or other property received by the Issuer since immediately after the Issue Date from the issue or sale of any Indebtedness
or any Disqualified Stock of the Issuer or any Restricted Subsidiary (other than Indebtedness or Disqualified Stock issued to a
Restricted Subsidiary) which has been converted into or exchanged for Equity Interests of the Issuer (other than Disqualified Stock);
plus

 

(4)              
100% of the aggregate amount of cash and the fair market value, as determined in good faith by the Issuer, of marketable
securities or other property contributed to the capital of the Issuer following the Issue Date (other than by a Restricted Subsidiary);
plus

 

(5)              
100% of the aggregate amount received in cash and the fair market value, as determined in good faith by the Issuer, of marketable
securities or other property received by means of:

 

(i)the
sale or other disposition (other than to the Issuer or a Restricted Subsidiary) of Restricted Investments made by the Issuer or
its Restricted Subsidiaries and repurchases and redemptions of such Restricted Investments from the Issuer or its Restricted Subsidiaries
and repayments of loans or advances, and releases of guarantees, which constitute Restricted Investments by the Issuer or its Restricted
Subsidiaries, in each case after the Issue Date; or

 

(ii)the
sale (other than to the Issuer or a Restricted Subsidiary) of the stock of an Unrestricted Subsidiary
other than an amount equal to the amount of Permitted Investments made pursuant to clause (19) of the definition thereof
in such Unrestricted Subsidiary; plus

 

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(6)              
in the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary after the Issue Date, the fair
market value of the Investment in such Unrestricted Subsidiary, as determined by the Issuer in good faith (as set forth in an Officer’s
Certificate delivered to the Trustee) at the time of the redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary
other than to the extent such Investment constituted a Permitted Investment.

 

(b)          
The provisions of subsection (a) of this Section 4.07 will not prohibit:

 

(1)              
the payment of any dividend or distribution or the consummation of any irrevocable redemption within 60 days after the date
of declaration thereof or the giving of such irrevocable notice, as applicable, if at the date of declaration or the giving of
such notice such payment would have complied with the provisions of this Indenture as if it were and is deemed at such time to
be a Restricted Payment at the time of such notice;

 

(2)              
(a) any Restricted Payment in exchange for, or out of the proceeds of the substantially concurrent sale (other than to the
Issuer or a Restricted Subsidiary) of, Equity Interests of the Issuer (other than any Disqualified Stock) (“Refunding
Capital Stock”) or a substantially concurrent contribution to the equity (other than Disqualified Stock) of the Issuer
and (b) the declaration and payment of dividends on any redeemed, repurchased, retired or otherwise acquired Equity Interests
of the Issuer (“Treasury Capital Stock”) out of the proceeds of the substantially concurrent sale (other than
to the Issuer or a Restricted Subsidiary) of Refunding Capital Stock;

 

(3)              
the purchase, redemption, defeasance, repurchase or other acquisition or retirement of Subordinated Indebtedness of the
Issuer or a Guarantor made in exchange for, or out of the proceeds of the substantially concurrent sale of, new Indebtedness of
the Issuer or a Guarantor, as the case may be, which is incurred in compliance with Section 4.09 so long as:

 

(i)                
the principal amount (or accreted value, if applicable) of such new Indebtedness does not exceed the principal amount of
(or accreted value, if applicable), plus any accrued and unpaid interest on, the Subordinated Indebtedness being so purchased,
redeemed, defeased, repurchased, acquired or retired for value, plus the amount of any premium required to be paid under the terms
of the instrument governing the Subordinated Indebtedness being so purchased, redeemed, defeased, repurchased, acquired or retired
and any fees and expenses incurred in connection with the issuance of such new Indebtedness;

 

(ii)              
such new Indebtedness is subordinated to the Notes or the applicable Guarantee at least to the same extent as such Subordinated
Indebtedness so purchased, exchanged, redeemed, defeased, repurchased, acquired or retired for value;

 

(iii)            
such new Indebtedness has a final scheduled maturity date equal to or later than the earlier of (x) the final scheduled
maturity date of the Subordinated Indebtedness being so purchased, exchanged, redeemed, defeased, repurchased, acquired or retired
and (y) 91 days following the maturity date of the Notes; and

 

(iv)            
such new Indebtedness has a Weighted Average Life to Maturity equal to or greater than the remaining Weighted Average Life
to Maturity of the Subordinated Indebtedness being so purchased, exchanged, redeemed, defeased, repurchased, acquired or retired;

 

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(4)              
a Restricted Payment to pay for the repurchase, retirement or other acquisition or retirement for value of Equity Interests
(other than Disqualified Stock) of the Issuer held by any future, present or former employee, director, officer or consultant of
the Issuer or any of its Subsidiaries pursuant to any management equity plan or stock option plan or any other management or employee
benefit plan or agreement, or any stock subscription or shareholder agreement; provided that the aggregate Restricted Payments
made under this clause (4) do not exceed in any calendar year $25.0 million (with unused amounts in any calendar year being
carried over to succeeding calendar years subject to a maximum of $50.0 million (without giving effect to the following proviso)
in any calendar year); provided further that such amount in any calendar year may be increased by an amount not to exceed:

 

(i)                
the cash proceeds from the sale of Equity Interests (other than Disqualified Stock) of the Issuer to members of management,
directors, officers or consultants of the Issuer or any of its Subsidiaries that occurs after the Issue Date, to the extent the
cash proceeds from the sale of such Equity Interests have not otherwise been applied to the payment of Restricted Payments by virtue
of clause (C) of subsection (a) of this Section 4.07; plus

 

(ii)              
the cash proceeds of key man life insurance policies received by the Issuer or any of its Restricted Subsidiaries after
the Issue Date; less

 

(iii)            
the amount of any Restricted Payments previously made with the cash proceeds described in clauses (i) and (ii) of
this clause (4);

 

and provided further that
cancellation of Indebtedness owing to the Issuer or any Restricted Subsidiary from members of management of the Issuer or any of
the Issuer’s Restricted Subsidiaries in connection with a repurchase of Equity Interests of the Issuer will not be deemed
to constitute a Restricted Payment for purposes of this Section 4.07 or any other provision of this Indenture;

 

(5)              
the declaration and payment of dividends to holders of any class or series of Disqualified Stock of the Issuer or any of
its Restricted Subsidiaries issued in accordance with Section 4.09 to the extent such dividends are included in the
definition of “Fixed Charges”;

 

(6)              
repurchases of Equity Interests deemed to occur (i) upon exercise of stock options or warrants if such Equity Interests
represent a portion of the exercise price of such options or warrants or (ii) for purposes of satisfying any required tax
withholding obligation upon the exercise or vesting of a grant or award that was granted or awarded to an employee;

 

(7)              
Restricted Payments in an aggregate amount taken together with all other Restricted Payments made pursuant to this clause
(7) not to exceed $125.0 million at such time;

 

(8)              
the repurchase, redemption, defeasance or other acquisition or retirement for value of any Subordinated Indebtedness pursuant
to the provisions similar to those described under Section 4.10 and Section 4.14; provided that all Notes
tendered by Holders in connection with a Change of Control Offer or Asset Sale Offer, as applicable, have been repurchased, redeemed
or acquired for value;

 

(9)              
the repurchase, redemption or other acquisition for value of Equity Interests of the Issuer deemed to occur in connection
with paying cash in lieu of fractional shares of such Equity Interests in connection with a share dividend, distribution, share
split, reverse share split, merger, consolidation, amalgamation or other business combination of the Issuer, in each case, permitted
under this Indenture;

 

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(10)          
the distribution, by dividend or otherwise, of shares of Capital Stock of, or Indebtedness owed to the Issuer or a Restricted
Subsidiary by Unrestricted Subsidiaries (other than Unrestricted Subsidiaries, the primary assets of which are cash and/or Cash
Equivalents);

 

(11)          
mandatory redemptions of Disqualified Stock issued as a Restricted Payment or as consideration for a Permitted Investment;

 

(12)          
any Restricted Payments made by the Issuer or any Restricted Subsidiary; provided that, immediately after giving
pro forma effect thereto and the Incurrence of any Indebtedness the net proceeds of which are used to finance such Restricted
Payment, the Consolidated Total Leverage Ratio would be no greater than 4.50 to 1.00;

 

(13)          
any Restricted Payment made in connection with the Transactions; and

 

(14)          
the declaration and payment of cash dividends on the Issuer’s common stock in an amount not to exceed $0.50 per share
in any fiscal year (as adjusted so that the aggregate amount payable pursuant to this clause (14) is not increased or decreased
solely as a result of any stock split, reverse stock split, stock dividend or similar reclassification); provided, that
the declaration and payment of cash dividends pursuant to this clause (14) shall not exceed $0.125 per share in the aggregate if
an Event of Default shall have occurred and be continuing or would occur as a consequence thereof;

 

provided that at the time
of, and after giving effect to, any Restricted Payment permitted under clauses (7), (10) and (12) of this Section 4.07(b),
no Default shall have occurred and be continuing or would occur as a consequence thereof.

 

(c)          
As of the Issue Date, all of the Issuer’s Subsidiaries will be Restricted Subsidiaries. The Issuer shall not permit
any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the penultimate sentence of the definition of
“Unrestricted Subsidiary.” For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary,
all outstanding Investments by the Issuer and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated
shall be deemed to be Restricted Payments in an amount determined as set forth in the last sentence of the definition of “Investment.”
Such designation shall be permitted only if a Restricted Payment in such amount would be permitted at such time, whether pursuant
to Section 4.07(a) or under clause (7) or (12) of subsection (b) of this Section 4.07, or pursuant to the definition
of “Permitted Investments,” and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted
Subsidiaries will not be subject to any of the restrictive covenants set forth in this Indenture.

 

(d)          
For purposes of determining compliance with this Section 4.07, in the event that a Restricted Payment meets
the criteria of more than one of the categories described in clauses (1) through (14) of subsection (b) of this
Section 4.07, or is permitted pursuant to subsection (a) of this Section 4.07, the Issuer shall be
entitled to classify such Restricted Payment (or portion thereof) on the date of its payment or later reclassify such Restricted
Payment (or portion thereof) in any manner that complies with this Section 4.07.

 

(e)          
The amount of all Restricted Payments (other than cash) shall be the fair market value on the date of such Restricted Payment
of the asset(s) or securities proposed to be paid, transferred or issued by the Issuer or such Restricted Subsidiary, as the case
may be, pursuant to such Restricted Payment. The fair market value of any cash Restricted Payment shall be its face amount, and
the fair market value of any non-cash Restricted Payment, property or assets other than cash shall be determined conclusively by
the Issuer acting in good faith.

 

Section 4.08        
Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. (a) The Issuer shall not, and
shall not permit any of its Restricted Subsidiaries to, directly or indirectly,

 

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create or otherwise cause or suffer to
exist or become effective any consensual encumbrance or consensual restriction on the ability of any such Restricted Subsidiary
to:

 

(1)              
(i) pay dividends or make any other distributions to the Issuer or any of its Restricted Subsidiaries on its Capital Stock
or with respect to any other interest or participation in, or measured by, its profits, or (ii) pay any Indebtedness owed to the
Issuer or any of its Restricted Subsidiaries;

 

(2)              
make loans or advances to the Issuer or any of its Restricted Subsidiaries; or

 

(3)              
sell, lease or transfer any of its properties or assets to the Issuer or any of its Restricted Subsidiaries.

 

(b)              
The restrictions in subsection (a) of this Section 4.08 shall not apply to encumbrances or restrictions existing
under or by reason of:

 

(1)              
contractual encumbrances or restrictions in effect on the Issue Date, including pursuant to the New Senior Secured Credit
Facilities and the related documentation and Hedging Obligations and the related documentation;

 

(2)              
this Indenture, the Notes and the Guarantees;

 

(3)              
purchase money obligations for property acquired in the ordinary course of business and Capitalized Lease Obligations that
impose restrictions of the nature discussed in clause (3) of subsection (a) of this Section 4.08 on the property
so acquired;

 

(4)              
applicable law or any applicable rule, regulation or order;

 

(5)              
any agreement or other instrument of a Person acquired by or merged or consolidated with or into the Issuer or any of its
Restricted Subsidiaries in existence at the time of such transaction (but not created in contemplation thereof), which encumbrance
or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person and its Subsidiaries,
or the property or assets of the Person and its Subsidiaries, so acquired;

 

(6)              
contracts for the sale of assets, including customary restrictions with respect to a Subsidiary of the Issuer, pursuant
to an agreement that has been entered into for the sale or disposition of all or substantially all of the Capital Stock or assets
of such Subsidiary that impose restrictions on the assets to be sold;

 

(7)              
Secured Indebtedness otherwise permitted to be incurred pursuant to Section 4.09 and Section 4.12 that limit
the right of the debtor to dispose of the assets securing such Indebtedness;

 

(8)              
restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course
of business;

 

(9)              
other Indebtedness, Disqualified Stock or Preferred Stock of Foreign Subsidiaries permitted to be incurred subsequent to
the Issue Date pursuant to Section 4.09;

 

(10)          
customary provisions in joint venture agreements or arrangements and other similar agreements or arrangements relating solely
to such joint venture;

 

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(11)          
customary provisions contained in leases, sub-leases, licenses or sub-licenses of intellectual property and other agreements,
in each case, entered into in the ordinary course of business;

 

(12)          
purchase money obligations for acquired property and Capitalized Lease Obligations entered into in the ordinary course of
business;

 

(13)          
any encumbrances or restrictions of the type referred to in clause (3) above imposed on any Restricted Subsidiary’s
ability to sell, lease or transfer any of its properties or assets to another Restricted Subsidiary that is not a Guarantor; and

 

(14)          
any encumbrances or restrictions of the type referred to in clauses (1), (2) and (3) of Section 4.08(a)
imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings
of the contracts, instruments or obligations referred to in clauses (1) through (13) of this Section 4.08(b);
provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or
refinancings are, in the good faith judgment of the Issuer, no more restrictive in any material respect with respect to such encumbrance
and other restrictions taken as a whole than those prior to such amendment, modification, restatement, renewal, increase, supplement,
refunding, replacement or refinancing.

 

Section 4.09        
Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock. (a) The
Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume,
guarantee or otherwise become directly or indirectly liable, contingently, or otherwise (collectively, “incur” and
collectively, an “incurrence”) with respect to any Indebtedness (including Acquired Indebtedness) and the Issuer shall
not issue any shares of Disqualified Stock and shall not permit any Restricted Subsidiary to issue any shares of Disqualified
Stock or Preferred Stock; provided that the Issuer may incur Indebtedness (including Acquired Indebtedness) or issue shares
of Disqualified Stock, and any of its Restricted Subsidiaries may incur Indebtedness (including Acquired Indebtedness), issue
shares of Disqualified Stock and issue shares of Preferred Stock, in each case if the Fixed Charge Coverage Ratio on a consolidated
basis for the Issuer and its Restricted Subsidiaries’ most recently ended four fiscal quarters for which internal financial
statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified
Stock or Preferred Stock is issued would have been at least 2.00 to 1.00, determined on a pro forma basis (including a
pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred, or the Disqualified
Stock or Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning
of the most recently ended four fiscal quarters for which internal financial statements are available; provided, further,
that the amount of Indebtedness (including Acquired Indebtedness), Disqualified Stock and Preferred Stock that may be incurred
or issued, as applicable, pursuant to the foregoing by Restricted Subsidiaries that are not Guarantors shall not (together with
any Refinancing Indebtedness in respect thereof) exceed $125.0 million at any one time outstanding.

 

(b)          
The provisions of subsection (a) of this Section 4.09 shall not apply to:

 

(1)              
the incurrence of Indebtedness under Credit Facilities by the Issuer or any of its Restricted Subsidiaries and the issuance
and creation of letters of credit and bankers’ acceptances thereunder (with letters of credit and bankers’ acceptances
being deemed to have a principal amount equal to the face amount thereof); provided that immediately after giving effect
to any such incurrence, the then outstanding aggregate principal amount of all Indebtedness under this clause (1) does not
exceed at any one time an amount equal to (a) $3,300.0 million and (b) an additional amount of Secured Indebtedness provided
that the Consolidated Secured Debt Ratio does not exceed 4.25 to 1.00 (after giving pro forma effect to the incurrence of
such Indebtedness and the application of the net

 

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proceeds therefrom)
less the aggregate amount of Net Proceeds from any Asset Sale applied to repay any such Indebtedness pursuant
to Section 4.10;

 

(2)              
the incurrence by the Issuer and any Guarantor of Indebtedness represented by (a) the Notes (not including any Additional
Notes) and the Guarantees thereof in respect of the Notes issued and outstanding on the Issue Date and (b) the Exchange Notes
(and related Guarantees thereof), if any, to be issued in exchange for the Notes (and the Guarantees thereof) pursuant to the Registration
Rights Agreement;

 

(3)              
Indebtedness of the Issuer and its Restricted Subsidiaries in existence on the Issue Date (other than Indebtedness described
in clause (1) or (2) of this Section 4.09(b));

 

(4)              
Indebtedness (including Capitalized Lease Obligations), Disqualified Stock and Preferred Stock incurred or issued by the
Issuer or any of its Restricted Subsidiaries, to finance the purchase, lease, construction, replacement or improvement of property
(real or personal) or equipment that is used or useful in a Similar Business, whether through the direct purchase of assets or
the Capital Stock of any Person owning such assets, in an aggregate principal amount or liquidation preference which, when aggregated
with the principal amount of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and together with
any other Indebtedness incurred under this clause (4), does not exceed the greater of (a) $150.0 million and (b) 2.5%
of Total Assets at the time of incurrence;

 

(5)              
Indebtedness incurred by the Issuer or any of its Restricted Subsidiaries constituting reimbursement obligations with respect
to letters of credit, bankers’ acceptances, bank guarantees, warehouse receipts or similar facilities issued or entered into
in the ordinary course of business, including letters of credit in respect of workers’ compensation claims, performance or
surety bonds, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance or other
Indebtedness with respect to reimbursement type obligations regarding workers’ compensation claims, performance or surety
bonds, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance;

 

(6)              
Indebtedness arising from agreements of the Issuer or its Restricted Subsidiaries providing for indemnification, non-compete
obligations, adjustment of purchase price, or earn-outs, contingent deferred payments or similar obligations, in each case, incurred
or assumed in connection with the disposition or acquisition of any business, assets or a Subsidiary, other than guarantees of
Indebtedness incurred by any Person acquiring all or any portion of such business, assets or a Subsidiary for the purpose of financing
such acquisition; provided that (a) such Indebtedness is not reflected on the balance sheet of the Issuer or any of
its Restricted Subsidiaries (it being understood that Contingent Obligations referred to in a footnote to financial statements
and not otherwise reflected on the balance sheet will be deemed not to be reflected on such balance sheet for purposes of this
clause (6)) and (b) the maximum assumable liability in respect of all such Indebtedness shall at no time exceed the gross
proceeds including non-cash proceeds (the fair market value (as determined in good faith by the Issuer) of such non-cash proceeds
being measured at the time received and without giving effect to any subsequent changes in value) actually received by the Issuer
and its Restricted Subsidiaries in connection with such disposition;

 

(7)              
Indebtedness of the Issuer to a Restricted Subsidiary; provided that any such Indebtedness owing to a Restricted
Subsidiary that is not a Guarantor is expressly subordinated in right of payment to the Notes; provided further that any
subsequent issuance or transfer of any Capital Stock or any other event which results in the Restricted Subsidiary holding such
Indebtedness of the Issuer ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except
to the Issuer or another Restricted Subsidiary or any pledge of such Indebtedness constituting a

 

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Permitted Lien)
shall be deemed, in each case, to be an incurrence of such Indebtedness not permitted by this clause (7);

 

(8)              
Indebtedness of a Restricted Subsidiary to the Issuer or another Restricted Subsidiary; provided that if a Guarantor
incurs such Indebtedness to a Restricted Subsidiary that is not a Guarantor, such Indebtedness is expressly subordinated in right
of payment to the Guarantee of the Notes of such Guarantor; provided further that any subsequent issuance or transfer of
any Capital Stock or any other event which results in any such Indebtedness being held by a Person other than the Issuer or a Restricted
Subsidiary or any subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary) shall be
deemed, in each case, to be an incurrence of such Indebtedness not permitted by this clause (8);

 

(9)              
shares of Preferred Stock of a Restricted Subsidiary issued to the Issuer or another Restricted Subsidiary, provided
that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary
ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred Stock (except to the Issuer
or another of its Restricted Subsidiaries) shall be deemed in each case to be an issuance of such shares of Preferred Stock not
permitted by this clause (9);

 

(10)          
Hedging Obligations for the purpose of limiting interest rate risk with respect to any Indebtedness permitted to be incurred
pursuant to this Section 4.09, exchange rate risk or commodity pricing risk or for the purpose of directly mitigating risks
associated with liabilities, commitments, investments, assets, revenue or property (excluding Hedging Obligations entered into
for speculative purposes);

 

(11)          
obligations in respect of performance, bid, appeal and surety bonds and completion guarantees and similar obligations provided
by the Issuer or any of its Restricted Subsidiary or obligations in respect of letters of credit, bank guarantees or similar instruments
related thereto, in each case in the ordinary course of business or consistent with past practice;

 

(12)          
Indebtedness or Disqualified Stock of the Issuer and Indebtedness, Disqualified Stock or Preferred Stock of the Issuer or
any Restricted Subsidiary not otherwise permitted hereunder in an aggregate principal amount or liquidation preference, which,
when aggregated with the principal amount and liquidation preference of all other Indebtedness, Disqualified Stock and Preferred
Stock then outstanding and incurred pursuant to this clause (12), does not at any one time outstanding exceed the greater of (a) $175.0
million and (b) 3.0% of Total Assets;

 

(13)          
the incurrence or issuance by the Issuer or any Restricted Subsidiary of Indebtedness, Disqualified Stock or Preferred Stock
which serves to refund or refinance:

 

(i)                
any Indebtedness, Disqualified Stock or Preferred Stock incurred as permitted under subsection (a) of this Section
4.09 and clauses (2) and (3) of this Section 4.09(b), this clause (13) and clause (14) of this Section 4.09(b),
or

 

(ii)              
any Indebtedness, Disqualified Stock or Preferred Stock incurred or issued to so refund or refinance the Indebtedness, Disqualified
Stock or Preferred Stock described in clause (i) of this Section 4.09(b)(13),

 

(collectively, the “Refinancing
Indebtedness”) prior to its respective maturity; provided that such Refinancing Indebtedness:

 

(A)             
is in an aggregate principal amount (or accreted value, if applicable) not exceeding the principal amount of (or accreted
value, if applicable), plus any accrued and unpaid interest on, the Indebtedness being so refunded or redeemed,

 

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including, in
each case, Refinancing Indebtedness incurred to pay premiums (including tender premiums), defeasance costs, accrued interest and
fees and expenses in connection therewith,

 

(B)             
has a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is incurred which is not less than the
remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being refunded or refinanced,

 

(C)             
to the extent such Refinancing Indebtedness refinances (i) Indebtedness subordinated or pari passu to the Notes
or any Guarantee thereof, such Refinancing Indebtedness is subordinated or pari passu, as the case may be, to the Notes
or the Guarantee at least to the same extent as the Indebtedness being refinanced or refunded or (ii) Disqualified Stock or
Preferred Stock, such Refinancing Indebtedness must be Disqualified Stock or Preferred Stock, respectively, and

 

(D)             
shall not include:

 

(1)              
Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary of the Issuer that is not a Guarantor that refinances
Indebtedness, Disqualified Stock or Preferred Stock of the Issuer;

 

(2)              
Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary of the Issuer that is not a Guarantor that refinances
Indebtedness, Disqualified Stock or Preferred Stock of a Guarantor; or

 

(3)              
Indebtedness, Disqualified Stock or Preferred Stock of the Issuer or a Restricted Subsidiary that refinances Indebtedness,
Disqualified Stock or Preferred Stock of an Unrestricted Subsidiary;

 

(14)          
Indebtedness, Disqualified Stock or Preferred Stock of (x) the Issuer or a Restricted Subsidiary incurred to finance
an acquisition or (y) Persons that are acquired by the Issuer or any Restricted Subsidiary or merged into or consolidated
with the Issuer or a Restricted Subsidiary in accordance with the terms of this Indenture; provided that (i) such Indebtedness,
Disqualified Stock or Preferred Stock is an aggregate principal amount or liquidation preference not to exceed $200.0 million at
any time outstanding plus (ii) an unlimited amount of additional Indebtedness, Disqualified Stock or Preferred Stock
if after giving effect to such acquisition, merger or consolidation, either:

 

(i)                
the Issuer would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio
test set forth in subsection (a) of this Section 4.09, or

 

(ii)              
the Fixed Charge Coverage Ratio of the Issuer and its Restricted Subsidiaries is equal to or greater than immediately prior
to such acquisition, merger or consolidation;

 

(15)          
Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument
drawn against insufficient funds in the ordinary course of business, provided that such Indebtedness is extinguished
within five Business Days of notice of its incurrence;

 

(16)          
Indebtedness of the Issuer or any of its Restricted Subsidiaries supported by a letter of credit issued pursuant to Credit
Facilities, in a principal amount not in excess of the stated amount of such letter of credit;

 

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(17)          
(a) any guarantee by the Issuer or a Restricted Subsidiary of Indebtedness or other obligations of any Restricted Subsidiary
so long as the incurrence of such Indebtedness incurred by such Restricted Subsidiary is permitted under the terms of this Indenture,
or

 

(b)          
any guarantee by a Restricted Subsidiary of Indebtedness of the Issuer; provided that such guarantee is incurred
in accordance with Section 4.15;

 

(18)          
Indebtedness of Foreign Subsidiaries of the Issuer in an amount outstanding and together with any other Indebtedness incurred
under this clause (18) not to exceed the greater of (a) $150.0 million and (b) the percentage equal to (i) $150
million divided by (ii) the Total Assets of the Foreign Subsidiaries as of March 31, 2015 at the time of incurrence;

 

(19)          
Indebtedness of the Issuer or any of its Restricted Subsidiaries consisting of (i) the financing of insurance premiums,
(ii) take-or-pay obligations contained in supply arrangements or (iii) self-insurance obligations or workers’ compensation
claims, in each case, incurred in the ordinary course of business;

 

(20)          
Indebtedness of the Issuer or any of its Restricted Subsidiaries undertaken in connection with cash management and related
activities with respect to any Subsidiary or joint venture in the ordinary course of business; and

 

(21)          
Indebtedness consisting of Indebtedness issued by the Issuer or any of its Restricted Subsidiaries to current or former
officers, directors and employees thereof, their respective estates, spouses or former spouses, in each case to finance the purchase
or redemption of Equity Interests of the Issuer to the extent described in clause (4) of Section 4.07(b).

 

(c)          
For purposes of determining compliance with this Section 4.09:

 

(1)              
in the event that an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) meets the criteria
of more than one of the categories of permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses (1) through
(21) of Section 4.09(b) or is entitled to be incurred pursuant to Section 4.09(a), the Issuer, in its sole
discretion, shall classify or reclassify such item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof)
and shall only be required to include the amount and type of such Indebtedness, Disqualified Stock or Preferred Stock in one of
the above clauses; provided that all Indebtedness outstanding under the New Senior Secured Credit Facilities on the Issue
Date shall at all times be treated as incurred and outstanding under clause (1) of Section 4.09(b) and will not be later
reclassified; and

 

(2)              
at the time of incurrence, the Issuer will be entitled to divide and classify an item of Indebtedness in more than one of
the types of Indebtedness described in Section 4.09(a) and Section 4.09(b).

 

(d)         
Accrual of interest or dividends, the accretion of accreted value, the accretion or amortization of original issue discount
and the payment of interest or dividends in the form of additional Indebtedness, Disqualified Stock or Preferred Stock, as applicable,
will not be deemed to be an incurrence of Indebtedness, Disqualified Stock or Preferred Stock for purposes of this Section 4.09.
Any Refinancing Indebtedness and any Indebtedness incurred to refinance Indebtedness incurred pursuant to clauses (1) and (12) of
Section 4.09(b) shall be permitted to include additional Indebtedness, Disqualified Stock or Preferred Stock incurred to
pay premiums (including tender premiums), underwriting discounts, defeasance costs, accrued and unpaid interest, fees and expenses
and other costs in connection with such refinancing.

 

(e)          
For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of Indebtedness,
the U.S. dollar-equivalent principal amount of Indebtedness

 

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

 

(f)          
The principal amount of any Indebtedness incurred to refinance other Indebtedness, if incurred in a different currency from
the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which
such respective Indebtedness is denominated that is in effect on the date of such refinancing.

 

(g)         
Notwithstanding anything to the contrary, the Issuer shall not, and shall not permit any Guarantor to, directly or indirectly,
incur any Indebtedness (including Acquired Indebtedness) that is subordinated or junior in right of payment to any Indebtedness
of the Issuer or such Guarantor, as the case may be, unless such Indebtedness is expressly subordinated in right of payment to
the Notes or such Guarantor’s Guarantee to the extent and in the same manner as such Indebtedness is subordinated to other
Indebtedness of the Issuer or such Guarantor, as the case may be.

 

(h)         
For the purposes of this Indenture, Indebtedness that is unsecured is not deemed to be subordinated or junior to Secured
Indebtedness merely because it is unsecured, and Senior Indebtedness is not deemed to be subordinated or junior to any other Senior
Indebtedness merely because it has a junior priority with respect to the same collateral.

 

Section 4.10        
Asset Sales. (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, consummate
an Asset Sale, unless:

 

(1)              
the Issuer or such Restricted Subsidiary, as the case may be, receives consideration at least equal to the fair market value
(such fair market value to be determined on the date of contractually agreeing to such Asset Sale), as determined in good faith
by the Issuer, of the assets subject to such Asset Sale (including, for the avoidance of doubt, if such Asset Sale is a Permitted
Asset Swap); and

 

(2)              
except in the case of a Permitted Asset Swap, at least 75.0% of the consideration therefor received by the Issuer or such
Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; provided that the amount of:

 

(i)                
any liabilities (as shown on the Issuer’s or such Restricted Subsidiary’s most recent consolidated balance sheet
or in the footnotes thereto, or if incurred or accrued subsequent to the date of such balance sheet, such liabilities that would
have been reflected on the Issuer’s consolidated balance sheet or in the footnotes thereto if such incurrence or accrual
had taken place on or prior to the date of such balance sheet, as determined in good faith by the Issuer) of the Issuer or such
Restricted Subsidiary (other than liabilities that are by their terms subordinated to the Notes) that are assumed by the transferee
of any such assets (or are otherwise extinguished by the transferee in connection with the transactions relating to such Asset
Sale) and for which the Issuer and all such Restricted Subsidiaries have been validly released;

 

(ii)              
any securities received by the Issuer or such Restricted Subsidiary from such transferee that are converted by the Issuer
or such Restricted Subsidiary into cash or Cash Equivalents, or by their terms are required to be satisfied for cash or Cash

 

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Equivalents
(to the extent of the cash or Cash Equivalents received), in each case, within 180 days following the closing of such Asset Sale;

 

(iii)            
Indebtedness of any Restricted Subsidiary that is no longer a Restricted Subsidiary as a result of such Asset Sale, to the
extent that the Issuer and each other Restricted Subsidiary are released from any guarantee of payment of such Indebtedness in
connection with such Asset Sale;

 

(iv)            
consideration consisting of Indebtedness of the Issuer (other than Subordinated Indebtedness) received from Persons who
are not the Issuer or any Restricted Subsidiary; and

 

(v)              
any Designated Non-cash Consideration received by the Issuer or such Restricted Subsidiary in such Asset Sale having an
aggregate fair market value (as determined in good faith by the Issuer), taken together with all other Designated Non-cash Consideration
received pursuant to this clause (v) that is at that time outstanding, not to exceed the greater of (x) $150.0 million
and (y) 2.5% of Total Assets at the time of the receipt of such Designated Non-cash Consideration, with the fair market value
(as determined in good faith by the Issuer) of each item of Designated Non-cash Consideration being measured at the time received
and without giving effect to subsequent changes in value,

 

shall be deemed to
be cash for purposes of this provision and for no other purpose.

 

(b)              
Within 365 days after the later of (A) the date of such Asset Sale and (B) the receipt of any Net Proceeds of
any Asset Sale, the Issuer or such Restricted Subsidiary, at its option, may apply the Net Proceeds from such Asset Sale,

 

(1)              
to permanently repay and reduce:

 

(A)             
Obligations under the New Senior Secured Credit Facilities, and to correspondingly reduce commitments with respect thereto;

 

(B)             
Obligations under Senior Indebtedness that is secured by a Lien, which Lien is permitted by this Indenture, and, if such
Indebtedness is revolving credit Indebtedness, to correspondingly reduce commitments with respect thereto;

 

(C)             
Obligations under (i) the Notes (to the extent such purchases are at or above 100% of the principal amount thereof)
or (ii) any other Senior Indebtedness of the Issuer or a Restricted Subsidiary (and, if such Indebtedness is revolving credit
Indebtedness, to correspondingly reduce commitments with respect thereto); provided that the Issuer shall equally and ratably
repay and reduce Obligations under the Notes (x) as provided under Section 3.07 or (y) through open-market purchases
or by making an offer (in accordance with subsection (c) of this Section 4.10) to all Holders of Notes to repurchase
their Notes, in each case, at 100% of the principal amount thereof, plus, in the case of each of clauses (i) and (ii), the
amount of accrued but unpaid interest, if any, on the principal amount of the Notes to be repurchased to, but excluding, the date
of repurchase; or

 

(D)             
Indebtedness of a Restricted Subsidiary that is not a Guarantor, other than Indebtedness owed to the Issuer or another Restricted
Subsidiary; or

 

(2)              
to make (a) an Investment in any one or more businesses, provided that such Investment in any business is in
the form of the acquisition of Capital Stock and results in the Issuer

 

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or another
of its Restricted Subsidiaries, as the case may be, owning an amount of the Capital Stock of such business such that it constitutes
a Restricted Subsidiary, (b) an Investment in properties, (c) capital expenditures or (d) an Investment in acquisitions
of other assets that, in the case of each of clause (a), (b), (c) and (d) are either (x) used or useful in a Similar
Business or (y) replace the businesses, properties and/or assets that are the subject of such Asset Sale; provided
that, in the case of this clause (2), a binding commitment shall be treated as a permitted application of the Net Proceeds from
the date of such commitment so long as the Issuer or such other Restricted Subsidiary enters into such commitment with the good
faith expectation that such Net Proceeds will be applied to satisfy such commitment within 180 days of such commitment (an “Acceptable
Commitment”); provided further that if any Acceptable Commitment is later cancelled or terminated for any
reason before such Net Proceeds are applied, then such Net Proceeds shall constitute Excess Proceeds; or

 

(3)              
any combination of the foregoing;

 

provided that, pending the
final application of any such Net Proceeds in accordance with clauses (1), (2) or (3) above, the Issuer and its Restricted
Subsidiaries may temporarily reduce Indebtedness or otherwise use such Net Proceeds in any manner not prohibited by this Indenture.

 

(c)          
Any Net Proceeds from the Asset Sale that are not invested or applied as provided and within the time period set forth in
subsection (b) of this Section 4.10 will be deemed to constitute “Excess Proceeds.” When the
aggregate amount of Excess Proceeds exceeds $50.0 million, the Issuer shall make an offer to all Holders of the Notes, and, if
required by the terms of any other Indebtedness that is pari passu with the Notes (“Pari Passu Indebtedness”),
to the holders of such Pari Passu Indebtedness (an “Asset Sale Offer”) to repurchase the maximum aggregate principal
amount of the Notes and such Pari Passu Indebtedness in minimum denominations of $2,000 and integral multiples of $1,000 in excess
thereof, that may be repurchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100.0% of the principal
amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the date fixed for the closing of such offer, in accordance
with the procedures set forth in this Indenture; provided that no Note of less than $2,000 remains outstanding after such
purchase. The Issuer shall commence an Asset Sale Offer with respect to Excess Proceeds within ten Business Days after the date
that Excess Proceeds exceed $50.0 million by delivering the notice required pursuant to the terms of this Indenture.

 

(d)         
To the extent that the aggregate principal amount of Notes and such Pari Passu Indebtedness tendered pursuant to an Asset
Sale Offer is less than the Excess Proceeds, the Issuer may use any remaining Excess Proceeds for any other purpose not prohibited
by this Indenture. If the aggregate principal amount of Notes and the Pari Passu Indebtedness surrendered in an Asset Sale Offer
exceeds the amount of Excess Proceeds, the Issuer shall select the Notes and such Pari Passu Indebtedness to be repurchased on
a pro rata basis based on the principal amount of the Notes and such Pari Passu Indebtedness tendered or, in the case of
the Notes or any such Pari Passu Indebtedness that is represented by global notes in fully registered form in the name of DTC or
its nominee, in accordance with the Applicable Procedures; provided that no Notes of $2,000 or less shall be repurchased
in part. Upon completion of any such Asset Sale Offer, the amount of Excess Proceeds that resulted in the Asset Sale Offer shall
be reset to zero.

 

(e)          
Notwithstanding any other provisions of this Section 4.10, (i) to the extent that any of or all the Net Proceeds
of any Asset Sale by a Foreign Subsidiary (a “Foreign Disposition”) is (x) prohibited or delayed by applicable
local law, (y) restricted by applicable organizational or constitutive documents or any agreement or (z) subject to other
onerous organizational or administrative impediments, from being repatriated to the United States, the portion of such Net Proceeds
so affected will not be required to be applied in compliance with this Section 4.10, and such amounts may be retained by
the applicable Foreign Subsidiary (the Issuer hereby agreeing to use reasonable efforts (as determined

 

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in the Issuer’s
reasonable business judgment) to otherwise cause the applicable Foreign Subsidiary to within one year following the date on which
the respective payment would otherwise have been required, promptly take all actions reasonably required by the applicable local
law, applicable organizational or constitutive impediment or other impediment to permit such repatriation), and if within one year
following the date on which the respective payment would otherwise have been required, such repatriation of any of such affected
Net Proceeds is permitted under the applicable local law, applicable organizational or constitutive impediment or other impediment,
such repatriation will be promptly effected and such repatriated Net Proceeds will be promptly (and in any event not later than
five Business Days after such repatriation could be made) applied (net of additional taxes, costs and expenses payable or reserved
against as a result thereof) (whether or not repatriation actually occurs) in compliance with this Section 4.10 and (ii) to
the extent that the Issuer has determined in good faith that repatriation of any of or all the Net Proceeds of any Foreign Disposition
would have an adverse tax cost consequence with respect to such Net Proceeds (which for the avoidance of doubt, includes, but is
not limited to, any repatriation or prepayment whereby doing so the Issuer, any Restricted Subsidiary or any of their respective
Affiliates and/or equity partners would incur a tax liability, including a tax on a dividend, a tax on a deemed dividend pursuant
to Code Section 956 or a withholding tax), the Net Proceeds so affected may be retained by the applicable Foreign Subsidiary.
The non-application of any Net Proceeds as a consequence of the foregoing provisions will not, for the avoidance of doubt, constitute
a Default or an Event of Default.

 

(f)          
The Issuer shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder, in each case to the extent such laws or regulations are applicable in connection with the repurchase of the Notes pursuant
to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of
this Indenture, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached
its obligations described in this Indenture by virtue thereof.

 

Section 4.11        
Transactions with Affiliates. (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries
to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any
property or assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or
guarantee with, or for the benefit of, any Affiliate of the Issuer (each of the foregoing, an “Affiliate Transaction”)
involving aggregate payments or consideration in excess of $20.0 million, unless:

 

(1)              
such Affiliate Transaction is on terms that are not materially less favorable to the Issuer or its relevant Restricted Subsidiary
than those that would have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated
Person on an arm’s-length basis; and

 

(2)              
the Issuer delivers to the Trustee:

 

(x)with respect
to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate payments or consideration in excess
of $50.0 million, a resolution adopted by the majority of the board of directors (including a majority of the disinterested members
thereof) of the Issuer approving such Affiliate Transaction and set forth in an Officer’s Certificate certifying that such
Affiliate Transaction complies with clause (1) of this Section 4.11(a); and

 

(y)with respect
to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate payments or consideration in excess
of $150.0 million, in addition to the resolution and Officer’s Certificate referred to in clause (x) above, a letter
from an Independent Financial Advisor stating that such Affiliate Transaction is fair to the Issuer or such Restricted Subsidiary
from a financial point of view or stating that the terms are not materially less favorable to the Issuer or its relevant

 

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Restricted Subsidiary
than those that would have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated
Person on an arm’s-length basis.

 

(b)         
The provisions of subsection (a) of this Section 4.11 shall not apply to the following:

 

(1)              
transactions between or among the Issuer or any of its Restricted Subsidiaries or any entity that becomes a Restricted Subsidiary
as a result of such transaction;

 

(2)              
Restricted Payments permitted by Section 4.07 and the definition of “Permitted Investments”;

 

(3)              
the payment of reasonable and customary fees and compensation paid to, and indemnities and reimbursements and employment
and severance arrangements provided on behalf of, officers, directors, employees or consultants of the Issuer or any of its Restricted
Subsidiaries;

 

(4)              
transactions in which the Issuer or any of its Restricted Subsidiaries, as the case may be, delivers to the Trustee a letter
from an Independent Financial Advisor stating that such transaction is fair to the Issuer or such Restricted Subsidiary from a
financial point of view or stating that the terms are not materially less favorable to the Issuer or its relevant Restricted Subsidiary
than those that would have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated
Person on an arm’s-length basis;

 

(5)              
any agreement as in effect as of the Issue Date, or any amendment thereto (so long as any such amendment is not disadvantageous
in any material respect to the Holders when taken as a whole as compared to the applicable agreement as in effect on the Issue
Date, as determined in good faith by the Issuer);

 

(6)              
transactions with customers, clients, suppliers, or purchasers or sellers of goods or services, in each case in the ordinary
course of business and otherwise in compliance with the terms of this Indenture which are fair to the Issuer and its Restricted
Subsidiaries, in the reasonable determination of the board of directors of the Issuer or the disinterested senior management thereof,
or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party;

 

(7)              
the issuance or transfer of Equity Interests (other than Disqualified Stock) of the Issuer and the granting of registration
and other customary rights in connection therewith or any contribution to capital of the Issuer or any Restricted Subsidiary;

 

(8)              
payments or loans (or cancellation of loans) to employees, directors or consultants of the Issuer or any of its Restricted
Subsidiaries and employment agreements, stock option plans and other similar arrangements with such employees, directors or consultants
which, in each case, are entered into in the ordinary course of business;

 

(9)              
transactions with joint ventures for the purchase or sale of goods, equipment and services entered into in the ordinary
course of business so long as the terms of any such transaction are not materially less favorable, taken as a whole, to the Issuer
or Restricted Subsidiary participating in such joint venture than they are to the other joint venture partners;

 

(10)          
any transaction between or among the Issuer or any Restricted Subsidiary and any Affiliate of the Issuer or other entity
that would constitute an Affiliate Transaction solely because the Issuer or a Restricted Subsidiary owns an equity interest in
or otherwise controls such Affiliate or other entity; and

 

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(11)          
any purchases by the Issuer’s Affiliates of Indebtedness or Disqualified Stock of the Issuer or any of its Restricted
Subsidiaries the majority of which Indebtedness or Disqualified Stock is purchased by Persons who are not the Issuer’s Affiliates;
provided that such purchases by the Issuer’s Affiliates are on the same terms as such purchases by such Persons
who are not the Issuer’s Affiliates.

 

Section 4.12        
Liens. (a) The Issuer shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly,
create, incur, assume or suffer to exist any Lien (except Permitted Liens) that secures obligations under any Indebtedness or
any related guarantee, on any asset or property of the Issuer or any Restricted Subsidiary, or any income or profits therefrom,
or assign or convey any right to receive income therefrom, unless:

 

(1)              
in the case of Liens securing Subordinated Indebtedness, the Notes (and Exchange Notes with respect thereto, if issued)
and related Guarantees are secured by a Lien on such property, assets or proceeds that is senior in priority to such Liens; or

 

(2)              
in all other cases, the Notes (and Exchange Notes with respect thereto, if issued) or the related Guarantees are equally
and ratably secured.

 

(b)         
Any Lien created for the benefit of the Holders of Notes pursuant to this Section 4.12 shall be deemed automatically and
unconditionally released and discharged upon the release and discharge of the applicable Lien described in clauses (1) and
(2) of Section 4.12(a).

 

(c)          
For purposes of determining compliance with this Section 4.12, (A) a Lien securing an item of Indebtedness need
not be permitted solely by reference to one category of permitted Liens (or any portion thereof) described in the definition of
“Permitted Liens” or pursuant to Section 4.12(a) but may be permitted in part under any combination thereof
and (B) in the event that a Lien securing an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof)
meets the criteria of one or more of the categories of permitted Liens (or any portion thereof) described in the definition of
“Permitted Liens” or pursuant to the Section 4.12(a), the Issuer may, in its sole discretion, classify
or reclassify, or later divide, classify or reclassify (as if Incurred at such later time), such Lien securing such item of Indebtedness
(or any portion thereof) in any manner that complies with this covenant and will be entitled to only include the amount and type
of such Lien or such item of Indebtedness secured by such Lien (or any portion thereof) in one of the categories of permitted Liens
(or any portion thereof) described in the definition of “Permitted Liens” or pursuant Section 4.12(a) and,
in such event, such Lien securing such item of Indebtedness (or any portion thereof) will be treated as being Incurred or existing
pursuant to only such clause or clauses (or any portion thereof) or pursuant to Section 4.12(a) without giving pro
forma effect to such item (or portion thereof) when calculating the amount of Liens or Indebtedness that may be Incurred pursuant
to any other clause or paragraph.

 

(d)         
With respect to any Lien securing Indebtedness that was permitted to secure such Indebtedness at the time of the incurrence
of such Indebtedness, such Lien shall also be permitted to secure any Increased Amount of such Indebtedness. The “Increased
Amount” of any Indebtedness shall mean any increase in the amount of such Indebtedness in connection with any accrual
of interest, the accretion of accreted value, the amortization of original issue discount, the payment of interest in the form
of additional Indebtedness with the same terms, accretion of original issue discount or liquidation preference and increase in
the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the
value of property securing Indebtedness.

 

Section 4.13        
Corporate Existence. Subject to Article V, the Issuer shall do or cause to be done all things necessary
to preserve and keep in full force and effect (i) its corporate existence, and the corporate, partnership or other existence
of each of its Restricted Subsidiaries, in accordance with the respective organizational documents (as the same may be amended
from time to time) of the Issuer or any

 

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such Restricted Subsidiary and (ii) the
rights (charter and statutory), licenses and franchises of the Issuer and its Restricted Subsidiaries; provided that the
Issuer shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence
of any of its Restricted Subsidiaries, if the Issuer in good faith shall determine that the preservation thereof is no longer desirable
in the conduct of the business of the Issuer and its Restricted Subsidiaries, taken as a whole.

 

Section 4.14        
Offer to Repurchase Upon Change of Control. (a) If a Change of Control occurs after the Issue Date, the
Issuer shall make an offer to repurchase all of the Notes pursuant to the offer described below (the “Change of Control
Offer”) at a price in cash (the “Change of Control Payment”) equal to 101% of the aggregate principal
amount thereof plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase, subject to the right of Holders
of the Notes of record on the relevant Record Date to receive interest due on the corresponding Interest Payment Date. Within
30 days following any Change of Control, the Issuer shall deliver notice of such Change of Control Offer electronically or by
first-class mail, with a copy to the Trustee, to each Holder of the Notes to the address of such Holder appearing in the security
register or otherwise in accordance with the Applicable Procedures, with the following information:

 

(1)              
that a Change of Control Offer is being made pursuant to this Section 4.14 and that all Notes properly tendered
pursuant to such Change of Control Offer will be accepted for payment by the Issuer;

 

(2)              
the repurchase price and the repurchase date, which will be no earlier than 30 days nor later than 60 days from the date
such notice is delivered (the “Change of Control Payment Date”);

 

(3)              
that any Note not properly tendered will remain outstanding and continue to accrue interest;

 

(4)              
that unless the Issuer defaults in the payment of the Change of Control Payment, all Notes accepted for payment pursuant
to the Change of Control Offer will cease to accrue interest on the Change of Control Payment Date;

 

(5)              
that Holders electing to have any Notes repurchased pursuant to a Change of Control Offer will be required to surrender
such Notes, with the form entitled “Option of Holder to Elect Repurchase” on the reverse of such Notes completed,
or otherwise in accordance with the Applicable Procedures, to the paying agent specified in the notice at the address specified
in the notice prior to the close of business on the third Business Day immediately preceding the Change of Control Payment Date;

 

(6)              
that Holders will be entitled to withdraw their tendered Notes and their election to require the Issuer to repurchase such
Notes, provided that the paying agent receives, not later than the second Business Day prior to the expiration of
the Change of Control Offer, a facsimile transmission or letter setting forth the name of the Holder of the Notes, the principal
amount of Notes tendered for repurchase, and a statement that such Holder is withdrawing its tendered Notes and its election to
have such Notes repurchased;

 

(7)              
that if the Issuer is redeeming fewer than all of the Notes, the Holders of the remaining Notes will be issued new Notes
and such new Notes will be equal in principal amount to the unrepurchased portion of the Notes surrendered. The unrepurchased portion
of the Notes must be equal to $2,000 or an integral multiple of $1,000 in excess thereof;

 

(8)              
if such notice is delivered prior to the occurrence of a Change of Control, stating that the Change of Control Offer is
conditioned on the occurrence of such Change of Control; and

 

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(9)              
the other instructions, as determined by the Issuer, consistent with this Section 4.14, that a Holder must follow.

 

The notice, if given
in a manner herein provided, shall be conclusively presumed to have been given, whether or not the Holder receives such notice.
If (A) the notice is given in a manner herein provided and (B) any Holder fails to receive such notice or a Holder receives
such notice but it is defective, such Holder’s failure to receive such notice or such defect shall not affect the validity
of the proceedings for the purchase of the Notes as to all other Holders that properly received such notice without defect. The
Issuer shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder
to the extent such laws or regulations are applicable in connection with the repurchase of Notes pursuant to a Change of Control
Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Section
4.14, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached
its obligations under this Section 4.14 by virtue thereof.

 

(b)          
On the Change of Control Payment Date, the Issuer shall, to the extent permitted by law:

 

(1)              
accept for payment all Notes issued by it or portions thereof properly tendered pursuant to the Change of Control Offer;

 

(2)              
deposit with the Paying Agent an amount equal to the aggregate Change of Control Payment in respect of all Notes or portions
thereof so tendered; and

 

(3)              
deliver, or cause to be delivered, to the Trustee for cancellation the Notes so accepted together with an Officer’s
Certificate to the Trustee stating that such Notes or portions thereof have been tendered to and repurchased by the Issuer.

 

(c)          
The Issuer shall not be required to make a Change of Control Offer following a Change of Control if (1) a third party
makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this
Section 4.14 applicable to a Change of Control Offer made by the Issuer and purchases all Notes validly tendered and not
withdrawn under such Change of Control Offer or (2) a notice of redemption of all outstanding Notes has been given pursuant
to Sections 3.03 and 3.07, unless and until there is a default in the payment of the redemption price on the applicable
Redemption Date or the redemption is not consummated due to the failure of a condition precedent contained in the applicable redemption
notice to be satisfied. Notwithstanding anything to the contrary herein, a Change of Control Offer may be made in advance of a
Change of Control, conditioned upon the occurrence of such Change of Control, if a definitive agreement is in place for the Change
of Control at the time of making of the Change of Control Offer.

 

(d)         
If Holders of not less than 90% in aggregate principal amount of the outstanding Notes validly tender and do not withdraw
such Notes in a Change of Control Offer and the Issuer, or any third party making a Change of Control Offer in lieu of the Issuer
as described in this Section 4.14, repurchases all of the Notes validly tendered and not withdrawn by such Holders,
the Issuer or such third party shall have the right, upon not less than 15 days nor more than 60 days’ prior notice (provided
that such notice is given not more than 30 days following such repurchase pursuant to the Change of Control Offer described above),
to redeem all Notes that remain outstanding following such purchase at a price in cash equal to 101% of the aggregate principal
amount thereof plus accrued and unpaid interest, if any, to, but excluding, the date of redemption, subject to the right of Holders
of the Notes of record on the relevant Record Date to receive interest due on the corresponding Interest Payment Date.

 

(e)         
Other than as specifically provided in this Section 4.14, any repurchase pursuant to this Section 4.14 shall
be made pursuant to the provisions of Sections 3.02, 3.05 and 3.06.

 

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Section 4.15        
Limitation on Guarantees of Indebtedness by Restricted Subsidiaries. The Issuer shall not permit any Restricted
Subsidiary that is a Wholly-Owned Subsidiary (and non-Wholly-Owned Subsidiaries if such non-Wholly-Owned Subsidiaries guarantee
Material Capital Markets Indebtedness of the Issuer or any Restricted Subsidiary), other than a Guarantor or a Foreign Subsidiary,
to become a borrower under or a guarantor with respect to any Material Capital Markets Indebtedness or Indebtedness under the
New Senior Secured Credit Facilities (other than solely a Foreign Credit Facility), in each case of the Issuer or any Guarantor
unless:

 

(1)              
such Restricted Subsidiary within 30 days executes and delivers a supplemental indenture to this Indenture, the form of
which is attached as Exhibit D hereto, providing for a Guarantee by such Restricted Subsidiary, except that with respect to a guarantee
of Indebtedness of the Issuer or any Guarantor, if such Indebtedness is by its express terms subordinated in right of payment to
the Notes or such Guarantor’s Guarantee, any such guarantee by such Restricted Subsidiary with respect to such Indebtedness
shall be subordinated in right of payment to such Guarantee substantially to the same extent as such Indebtedness is subordinated
to the Notes or such Guarantor’s Guarantee; and

 

(2)              
such Restricted Subsidiary shall within 30 days deliver to the Trustee an Opinion of Counsel;

 

provided that
this Section 4.15 shall not be applicable to any guarantee of any Restricted Subsidiary that existed at the time such Person
became a Restricted Subsidiary and was not incurred in connection with, or in contemplation of, such Person becoming a Restricted
Subsidiary.

 

The Issuer may elect,
in its sole discretion, to cause any Subsidiary that is not otherwise required to be a Guarantor to become a Guarantor, in which
case such Subsidiary shall only be required to execute and deliver a supplemental indenture to this Indenture providing for a Guarantee
by such Subsidiary.

 

Section 4.16        
Suspension of Certain Covenants. (a) During any period of time that: (i) the Notes have Investment
Grade Ratings from both Rating Agencies and (ii) no Default or Event of Default has occurred and is continuing under this
Indenture (the occurrence of the events described in the foregoing clauses (i) and (ii) being collectively referred
to as a “Covenant Suspension Event”), the Issuer and its Restricted Subsidiaries shall not be subject to Section
4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.15 and clause
(4) of Section 5.01(a) (the “Suspended Covenants”).

 

(b)          
If on any subsequent date (the “Reversion Date”) one or both of the Rating Agencies withdraws its Investment
Grade Rating or downgrades the rating assigned to the Notes below an Investment Grade Rating, the Issuer and the Restricted Subsidiaries
shall thereafter again be subject to the Suspended Covenants with respect to future events. The period of time between the Covenant
Suspension Event and the Reversion Date is referred to herein as the “Suspension Period.”

 

(c)          
On each Reversion Date, all Indebtedness incurred, or Disqualified Stock or Preferred Stock issued, during the Suspension
Period will be classified as having been Incurred or issued pursuant to Section 4.09(a) or one of the clauses of Section
4.09(b) (to the extent such Indebtedness or Disqualified Stock or Preferred Stock would be permitted to be incurred or issued
thereunder as of the Reversion Date and after giving effect to Indebtedness incurred or issued prior to the Suspension Period and
outstanding on the Reversion Date). To the extent such Indebtedness or Disqualified Stock or Preferred Stock would not be so permitted
to be incurred or issued pursuant to Section 4.09(a) or (b), such Indebtedness or Disqualified Stock or Preferred
Stock will be deemed to have been outstanding on the Issue Date, so that it is classified as permitted under clause (3) of
Section 4.09(b). Calculations made after the Reversion Date of the amount available to be made as Restricted Payments
under Section 4.07 will be made as though Section 4.07 had been in effect since the Issue Date but not during the
Suspension Period. Accordingly, Restricted Payments made during the Suspension Period shall not reduce the amount available to
be made as Restricted Payments pursuant to Section 4.07(a), subject to the exceptions

 

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set forth in
Section 4.07(b). No Default, Event of Default or breach of any kind shall be deemed to exist under this Indenture, the Notes
or the Guarantees with respect to the Suspended Covenants based on, and none of the Issuer or any of its Subsidiaries shall bear
any liability for, any actions taken or events occurring during the Suspension Period, or any actions taken a time pursuant to
any contractual obligation arising prior to the Reversion Date (if permitted at such time, regardless of whether such actions or
events would have been permitted if the applicable Suspended Covenants remained in effect during such period). Notwithstanding
the foregoing, during the Suspension Period, the Issuer shall not designate any of its Restricted Subsidiaries to be Unrestricted
Subsidiaries. For purposes of Section 4.10, on the Reversion Date, the amount of Excess Proceeds, if any, shall be reset
to zero.

 

(d)          
The Issuer shall deliver promptly to the Trustee an Officer’s Certificate notifying it of any such occurrence under
this Section 4.16. The Trustee shall have no duty to monitor the Investment Grade Ratings of Notes or notify Holders of
any Covenant Suspension Event or Reversion Date.

 

Section 4.17        
Additional Interest Notice. If the Issuer is required to pay Additional Interest to Holders of Notes pursuant
to a Registration Rights Agreement, the Issuer shall provide written notice (“Additional Interest Notice”) to the
Trustee of its obligation to pay Additional Interest no later than fifteen days prior to the proposed payment date for the Additional
Interest, and the Additional Interest Notice shall set forth the amount of Additional Interest to be paid by the Issuer on such
payment date. The Trustee shall not at any time be under any duty or responsibility to any Holder of Notes to determine the Additional
Interest, or with respect to the nature, extent, or calculation of the amount of Additional Interest owed, or with respect to
the method employed in such calculation of the Additional Interest. Additional Interest shall be payable at the same time and
in the same manner as interest on the Notes. Financial Calculations for Limited Condition Acquisitions. When calculating
the availability under any basket or ratio under this Indenture, in each case in connection with a Limited Condition Acquisition,
the date of determination of such basket or ratio and of any Default or Event of Default may, at the option of the Issuer, be
the date the definitive agreements for such Limited Condition Acquisition are entered into. Any such ratio or basket shall be
calculated with such adjustments as are appropriate and consistent with the pro forma adjustment provisions set forth in
the definition of Fixed Charge Coverage Ratio after giving effect to such Limited Condition Acquisition and other transactions
in connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) as if they had been consummated
at the beginning of the applicable period for purposes of determining the ability to consummate any such Limited Condition Acquisition;
provided that, for the avoidance of doubt, (x) if any of such ratios or baskets are exceeded as a result of fluctuations
in such ratio or basket subsequent to such date of determination and at or prior to the consummation of the relevant Limited Condition
Acquisition, such ratios or baskets will not be deemed to have been exceeded as a result of such fluctuations solely for purposes
of determining whether the Limited Condition Acquisition is permitted under this Indenture and (y) such ratios or baskets
shall not be tested at the time of consummation of such Limited Condition Acquisition or related transactions; provided, further,
that if the Issuer elects to have such determinations occur at the time of entry into such definitive agreement, any such transactions
(including any incurrence of Indebtedness and the use of proceeds thereof) shall be deemed to have occurred on the date the definitive
agreements are entered and outstanding thereafter for purposes of calculating any ratios or baskets under this Indenture after
the date of such definitive agreements and before the consummation of such Limited Condition Acquisition. With respect to any
such calculations of the availability under any basket or ratio under this Indenture with respect to a Limited Condition Acquisition,
the Issuer shall deliver to the Trustee promptly following the date the definitive agreement for such Limited Condition Acquisition
is entered into an Officer’s Certificate stating that such definitive agreement has been executed and that the Issuer has
made any applicable ratio or basket calculations in accordance with this Section 4.18 and in compliance with the terms of this
Indenture.

 

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Article
V

SUCCESSORS

 

Section 5.01        
Merger, Consolidation or Sale of All or Substantially All Assets.

 

(a)          
The Issuer may not consolidate or merge with or into or wind up into (whether or not the Issuer is the surviving corporation),
or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its and its Subsidiaries’ properties
or assets, taken as a whole, in one or more related transactions, to any Person unless:

 

(1)              
the Issuer is the surviving Person or the Person formed by or surviving any such consolidation or merger (if other than
the Issuer) or the Person to whom such sale, assignment, transfer, lease, conveyance or other disposition will have been made is
a corporation, partnership, limited liability company or similar entity
organized or existing under the laws of the United States, any state thereof or the District of Columbia (such Person, as the case
may be, being herein called the “Successor Company”); provided
that, in the event that the Successor Company is not a corporation, a co-obligor of the Notes is a corporation organized in any
such jurisdiction;

 

(2)              
the Successor Company, if other than the Issuer, expressly assumes all the obligations of the Issuer under this Indenture
and the Notes pursuant to supplemental indentures or other documents or instruments;

 

(3)              
immediately after such transaction, no Default exists;

 

(4)              
immediately after giving pro forma effect to such transaction and any related financing transactions, as if such
transactions had occurred at the beginning of the applicable four-quarter period,

 

(i)                
the Successor Company would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge
Coverage Ratio test set forth in Section 4.09(a), or

 

(ii)              
the Fixed Charge Coverage Ratio for the Successor Company or the Issuer and its Restricted Subsidiaries would be equal to
or greater than such ratio for the Issuer and its Restricted Subsidiaries immediately prior to such transaction; and

 

(5)              
the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that
such consolidation, merger, wind up, sale, assignment, transfer, lease, conveyance or other disposition and such supplemental indentures,
if any, comply with this Indenture.

 

(b)         
The Successor Company will succeed to, and be substituted for, the Issuer under this Indenture, the Guarantees and the Notes,
as applicable, and except in the case of a lease, the Issuer will automatically be released and discharged from its obligations
under this Indenture and the Notes. Notwithstanding clauses (3) and (4) of subsection (a) of this Section 5.01:

 

(1)              
any Restricted Subsidiary may consolidate with, merge into or sell, assign, transfer, lease, convey or otherwise dispose
of all or part of its properties and assets to the Issuer or any other Restricted Subsidiary; and

 

(2)              
the Issuer may merge with an Affiliate of the Issuer solely for the purpose of reorganizing the Issuer in a State of the
United States or the District of Columbia so long as the amount of Indebtedness of the Issuer and its Restricted Subsidiaries is
not increased thereby.

 

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(c)          
Subject to Section 10.06, no Guarantor will, and the Issuer will not permit any such Guarantor to, consolidate
or merge with or into or wind up into (whether or not the Issuer or such Guarantor is the surviving Person), or sell, assign, transfer,
lease, convey or otherwise dispose of all or substantially all of its properties or assets, in one or more related transactions,
to any Person unless:

 

(1)              
(i) such Guarantor is the surviving Person or the Person formed by or surviving any such consolidation or merger (if other
than such Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is
a Person organized or existing under the laws of the jurisdiction of organization of such Guarantor, as the case may be, or the
laws of the United States, any State thereof or the District of Columbia (such Guarantor or such Person, as the case may be, being
herein called the “Successor Person”);

 

(ii)                
the Successor Person, if other than such Guarantor, expressly assumes all the obligations of such Guarantor under this Indenture
and such Guarantor’s related Guarantee, pursuant to supplemental indentures or other documents or instruments;

 

(iii)              
immediately after such transaction, no Default exists; and

 

(iv)            
the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that
such consolidation, merger, sale, assignment, transfer, lease, conveyance or other disposition and such supplemental indentures,
if any, comply with this Indenture; or

 

(2)              
the transaction does not violate, and is otherwise made in compliance with, Section 4.10.

 

(d)         
In the case of clause (1) of subsection (c) of this Section 5.01, the Successor Person shall succeed
to, and be substituted for, such Guarantor under this Indenture and such Guarantor’s Guarantee and, except in the case of
a lease, such Guarantor will automatically be released and discharged from its obligations under this Indenture and such Guarantor’s
Guarantee. Notwithstanding the foregoing, any Guarantor may merge into or transfer all or part of its properties and assets to
another Guarantor or the Issuer.

 

Section 5.02        
Successor Corporation Substituted. Upon any consolidation, merger or wind up, or any sale, assignment, transfer,
lease, conveyance or other disposition of all or substantially all of the assets of the Issuer in accordance with Section 5.01,
the Successor Company shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger,
wind up, sale, assignment, transfer, lease, conveyance or other disposition, the provisions of this Indenture referring to the
Issuer shall refer instead to the Successor Company and not to the Issuer), and may exercise every right and power of the Issuer
under this Indenture with the same effect as if the Successor Company had been named as the Issuer herein; provided that
the predecessor Issuer shall not be relieved from the obligation to pay the principal of and interest, if any, on the Notes except
in the case of a sale, assignment, transfer, conveyance or other disposition of all of the Issuer’s assets that meets the
requirements of Section 5.01.

 

Article
VI

DEFAULTS AND REMEDIES

 

Section 6.01        
Events of Default.

 

(a)         
An “Event of Default” wherever used herein, means any one of the following events with respect to the
Notes:

 

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(1)              
default in payment when due and payable, upon redemption, acceleration or otherwise, of principal of, or premium, if any,
on, the Notes;

 

(2)              
default for 30 days or more in the payment when due of interest on or with respect to the Notes;

 

(3)              
failure by the Issuer or any Restricted Subsidiary for (i) 60 days after receipt of written notice given to the Issuer by
the Trustee or to the Issuer with a copy to the Trustee by the Holders of not less than 25% in principal amount of the Notes then
outstanding to comply with any of its obligations, covenants or agreements (other than a default referred to in clause (1) or
(2) above or in subclause (ii) of this clause (3)) contained in this Indenture or the Notes
or (ii) 90 days after receipt of written notice given by the Trustee or the Holders of not less than 25% in principal
amount of the Notes then outstanding to comply with Section 4.03;

 

(4)              
default under any mortgage, indenture or instrument under which there is issued or by which there is secured or evidenced
any Indebtedness for money borrowed by the Issuer or any of its Restricted Subsidiaries or the payment of which is guaranteed by
the Issuer or any of its Restricted Subsidiaries, other than Indebtedness owed to the Issuer or a Restricted Subsidiary, whether
such Indebtedness or guarantee now exists or is created after the issuance of the Notes, if both:

 

(i)            
such default either results from the failure to pay any principal of such Indebtedness at its stated final maturity (after
giving effect to any applicable grace periods) or relates to an obligation other than the obligation to pay principal of any such
Indebtedness at its stated final maturity and results in the holder or holders of such Indebtedness causing such Indebtedness to
become due prior to its stated maturity; and

 

(ii)           
the principal amount of such Indebtedness, together with the principal amount of any other such Indebtedness in default
for failure to pay principal at stated final maturity (after giving effect to any applicable grace periods), or the maturity of
which has been so accelerated, aggregate $75.0 million or more at any one time outstanding;

 

(5)              
failure by the Issuer or any Significant Subsidiary to pay final judgments aggregating in excess of $75.0 million, other
than any judgments covered by indemnities provided by, or insurance policies issued by, reputable and creditworthy companies, which
final judgments remain unpaid, undischarged and unstayed for a period of more than 60 consecutive days after such judgment becomes
final;

 

(6)              
the Issuer or any Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law:

 

(i)             
commences proceedings to be adjudicated bankrupt or insolvent;

 

(ii)           
consents to the institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or answer
or consent seeking reorganization or relief under applicable Bankruptcy Law;

 

(iii)           
consents to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or other similar official of it or
for all or substantially all of its property;

 

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

 

(v)            
generally is not paying its debts as they become due;

 

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(7)              
a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 

(i)             
is for relief against the Issuer or any Significant Subsidiary in a proceeding in which the Issuer or any such Significant
Subsidiary is to be adjudicated bankrupt or insolvent;

 

(ii)            
appoints a receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Issuer or any Significant
Subsidiary, or for all or substantially all of the property of the Issuer or any Significant Subsidiary; or

 

(iii)           
orders the liquidation of the Issuer or any Significant Subsidiary;

 

and the order or decree
remains unstayed and in effect for 60 consecutive days; or

 

(8)              
the Guarantee of any Significant Subsidiary shall for any reason cease to be in full force and effect or be declared null
and void or any responsible officer of any Guarantor that is a Significant Subsidiary, as the case may be, denies that it has any
further liability under its Guarantee or gives notice to such effect, other than by reason of the termination of this Indenture
or the release of any such Guarantee in accordance with this Indenture.

 

(b)          
A Default under clauses (3), (4) or (5) of Section 6.01(a) will not constitute an Event of Default until
the Trustee or the Holders of 25% in principal amount of the outstanding Notes notify the Issuer of the Default and, with respect
to clauses (3) and (5) the Issuer does not cure such Default within the time specified in clauses (3) and (5), as
applicable, of Section 6.01(a) after receipt of such notice.

 

(c)          
If a Default for a failure to report or failure to deliver a required certificate in connection with another default (the
“Initial Default”) occurs, then, at the time such Initial Default is cured, such Default for a failure to report
or failure to deliver a required certificate in connection with another Default that resulted solely because of that Initial Default
will also be cured without any further action. In addition, any Default or Event of Default for the failure to comply with the
time periods prescribed in Section 4.03 or otherwise to deliver any notice or certificate pursuant to any other provision
of this Indenture shall be deemed to be cured upon the delivery of any such report required by Section 4.03 or such
notice or certificate, as applicable, even though such delivery is not within the prescribed period specified in this Indenture.

 

Section 6.02        
Acceleration.

 

If any Event of Default
(other than an Event of Default specified in clause (6) or (7) of Section 6.01(a) with respect to the Issuer)
occurs and is continuing under this Indenture, the Trustee by written notice to the Issuer or the Holders of at least 25% in principal
amount of the then total outstanding Notes by written notice to the Issuer and the Trustee, may declare the principal, premium,
if any, interest and any other monetary obligations on all the then outstanding Notes to be due and payable immediately. Upon the
effectiveness of such declaration, such principal, premium, if any, and interest with respect to the Notes shall be due and payable
immediately. Notwithstanding the foregoing, in the case of an Event of Default arising under clause (6) or (7) of Section
6.01(a) with respect to the Issuer, all outstanding Notes shall be due and payable without further action or notice.

 

Section 6.03        
Other Remedies.

 

Subject to the duties
of the Trustee as provided for in Article
VII, if an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment
of principal,

 

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premium, if any, and
interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture.

 

The Trustee may maintain
a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission
by the Trustee or any Holder of a Note in exercising any right or remedy accruing upon an Event of Default shall not impair the
right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted
by law.

 

Section 6.04        
Waiver of Defaults.

 

Holders of a majority
in aggregate principal amount of the then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the
Notes waive any existing Default and its consequences hereunder, except a continuing Default in the payment of the principal of,
premium, if any, or interest on, any Note held by a non-consenting Holder; and may rescind an acceleration and its consequences,
including any related payment default that resulted from such acceleration. In the event of any Event of Default specified in clause
(4) of Section 6.01(a), such Event of Default and all consequences thereof (excluding any resulting payment default,
other than as a result of acceleration of the Notes) shall be annulled, waived and rescinded automatically and without any action
by the Trustee or the Holders, if within 20 days after such Event of Default arose the Issuer
delivers an Officer’s Certificate to the Trustee stating that:

 

(1)              
the Indebtedness or guarantee that is the basis for such Event of Default has been discharged; or

 

(2)              
the holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such
Event of Default; or

 

(3)              
the default that is the basis for such Event of Default has been cured,

 

it being understood that
in no event shall an acceleration of the principal amount of the Notes as described above be annulled, waived or rescinded upon
the happening of any such events.

 

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

 

Section 6.05        
Control by Majority.

 

Holders of a majority
in principal amount of the total outstanding Notes may direct in writing the time, method and place of conducting any proceeding
for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may
refuse to follow any direction that conflicts with law or this Indenture or that the Trustee determines is unduly prejudicial to
the rights of any other Holder of a Note or that would involve the Trustee in personal liability.

 

Section 6.06        
Limitation on Suits.

 

Subject to Section
6.07, no Holder of a Note may pursue any remedy with respect to this Indenture or the Notes unless:

 

(a)          
such Holder has previously given the Trustee written notice that an Event of Default is continuing;

 

(b)          
Holders of at least 25% in principal amount of the total outstanding Notes have requested the Trustee to pursue the remedy;

 

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(c)          
Holders of the Notes have offered the Trustee security or indemnity satisfactory to the Trustee in its sole discretion against
any loss, liability or expense;

 

(d)          
the Trustee has not complied with such request within 60 days after the receipt thereof and the offer of security or indemnity;
and

 

(e)          
Holders of a majority in principal amount of the total outstanding Notes have not given the Trustee a direction inconsistent
with such request within such 60-day period.

 

A Holder of a Note
may not use this Indenture to prejudice the rights of another Holder of a Note or to obtain a preference or priority over another
Holder of a Note (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions
or forbearances are unduly prejudicial to such Holders).

 

Section 6.07        
Rights of Holders of Notes to Receive Payment.

 

Notwithstanding any
other provision of this Indenture, the right of any Holder of a Note to receive payment of principal, premium, if any, and interest
on the Note, on or after the respective due dates expressed in the Note (including in connection with an Asset Sale Offer or a
Change of Control Offer), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not
be impaired or affected without the consent of such Holder.

 

Section 6.08        
Collection Suit by Trustee.

 

If an Event of Default
specified in Section 6.01(a)(1) or (2) occurs and is continuing, without the possession of any of the Notes
or the production thereof in any proceeding related thereto, the Trustee is authorized to recover judgment in its own name and
as trustee of an express trust against the Issuer for the whole amount of principal of, premium, if any, and interest remaining
unpaid on the Notes and interest on overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient
to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel (including without limitation any amounts due to the Trustee pursuant to Section 7.07).

 

Section 6.09        
Restoration of Rights and Remedies.

 

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

 

Section 6.10        
Rights and Remedies Cumulative.

 

Except as otherwise
provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in Section 2.07, no right
or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or
remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and
remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right
or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section 6.11        
Delay or Omission Not Waiver.

 

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No delay or omission
of the Trustee or of any Holder of any Note to exercise any right or remedy accruing upon any Event of Default shall impair any
such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given
by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient,
by the Trustee or by the Holders, as the case may be.

 

Section 6.12        
Trustee May File Proofs of Claim.

 

The Trustee is authorized
to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Issuer (or any other obligor upon the
Notes including the Guarantors), its creditors or its property and shall be entitled and empowered to participate as a member in
any official committee of creditors appointed in such matter and to collect, receive and distribute any money or other property
payable or deliverable on any such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder
to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to
the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07. To the extent that the payment
of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due
the Trustee under Section 7.07 out of the estate in any such proceeding, shall be denied for any reason, payment of
the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other
properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization
or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept
or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the
rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

Section 6.13        
Priorities.

 

If the Trustee or any
Agent collects any money or property pursuant to this Article VI, it shall pay out the money and property in the following
order:

 

(a)         
to the Trustee, the Agents, their agents and attorneys for amounts due under Section 7.07, including payment of all
compensation, expenses and liabilities incurred, and all advances made, by the Trustee or any Agent and the costs and expenses
of collection;

 

(b)         
to Holders of Notes for amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably, without
preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest,
respectively; and

 

(c)          
to the Issuer or to such party as a court of competent jurisdiction shall direct including a Guarantor, if applicable.

 

The Trustee may fix
a record date and payment date for any payment to Holders of Notes pursuant to this Section 6.13.

 

Section 6.14        
Undertaking for Costs.

 

In any suit for the
enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it
as a Trustee, a court in its discretion may require the

 

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filing by any party
litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs,
including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits
and good faith of the claims or defenses made by the party litigant. This Section 6.14 does not apply to a suit by the Trustee,
a suit by a Holder of a Note pursuant to Section 6.07, or a suit by Holders of more than 10% in principal amount of the
then outstanding Notes.

 

Article
VII

TRUSTEE

 

Section 7.01        
Duties of Trustee.

 

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

 

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

 

(i)                
the duties of the Trustee shall be determined solely by the express provisions of this Indenture and the Trustee need perform
only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall
be read into this Indenture against the Trustee; and

 

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

 

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

 

(i)                
this paragraph (c) does not limit the effect of paragraph (b) of this Section 7.01;

 

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

 

(iii)            
the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 6.05.

 

(d)          
Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is
subject to paragraphs (a), (b) and (c) of this Section 7.01 and Section 7.02(f).

 

(e)          
The Trustee shall be under no obligation to exercise any of its rights or powers under this Indenture at the request or
direction of any of the Holders of the Notes unless the Holders have

 

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offered to the
Trustee indemnity or security satisfactory to the Trustee, in its sole discretion, against any loss, liability or expense.

 

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

 

Section 7.02        
Rights of Trustee.

 

(a)          
The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by
the proper Person. The Trustee need not investigate any fact or matter stated in the document, but the Trustee, in its discretion,
may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine
to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer, personally
or by agent or attorney at the sole cost of the Issuer and shall incur no liability or additional liability of any kind by reason
of such inquiry or investigation.

 

(b)         
Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel
or both, except as otherwise set forth herein. The Trustee shall not be liable for any action it takes or omits to take in good
faith in reliance on such Officer’s Certificates or Opinion of Counsel. The Trustee may consult with counsel of its selection
and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection from liability
in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon.

 

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

 

(d)          
The Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be authorized
or within the rights or powers conferred upon it by this Indenture.

 

(e)          
Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Issuer shall
be sufficient if signed by an Officer of the Issuer.

 

(f)           
None of the provisions of this Indenture shall require the Trustee to expend or risk its own funds or otherwise to incur
any liability, financial or otherwise, in the performance of any of its duties hereunder, or in the exercise of any of its rights
or powers.

 

(g)          
Except with respect to Section 4.01 if the Trustee is the Paying Agent (and with respect to the payment of any
Additional Interest, only so long as the Issuer has notified the Trustee that such Additional Interest is due), the Trustee shall
have no duty to inquire as to the performance by the Issuer with respect to the covenants contained in Article IV. The Trustee
shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge
thereof or unless written notice of any event which is in fact such a Default is received by the Trustee at the Corporate Trust
Office of the Trustee, and such notice references the Notes and this Indenture.

 

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

 

(i)           
The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right
to be indemnified, are extended to, and shall be enforceable by, the

 

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Trustee in each
of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder.

 

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

 

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

 

(l)                
The Trustee shall not be liable for any action taken or omitted by it in good faith at the direction of the Holders of not
less than a majority in principal amount of the outstanding Notes as to the time, method and place of conducting any proceedings
for any remedy available to the Trustee or the exercising of any power conferred by this Indenture, except for the Trustee’s
own gross negligence, willful misconduct or bad faith.

 

Section 7.03        
Individual Rights of Trustee.

 

The Trustee in its
individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer or any Affiliate
of the Issuer 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 eliminate such conflict within 90 days, apply to the SEC for permission to continue as trustee or resign. Any
Agent may do the same with like rights and duties.

 

Section 7.04        
Trustee’s Disclaimer.

 

The Trustee shall not
be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, it shall not be accountable
for the Issuer’s use of the proceeds from the Notes or any money paid to the Issuer or upon the Issuer’s direction
under any provision of this Indenture, it shall not be responsible for the use or application of any money received by any Paying
Agent other than the Trustee, and it shall not be responsible for any statement or recital herein or any statement in the Notes
or any other document in connection with the sale of the Notes or pursuant to this Indenture other than its certificate of authentication.

 

Section 7.05        
Notice of Defaults.

 

If a Default occurs
and is continuing and if it is actually known to a Responsible Officer of the Trustee, the Trustee shall send to Holders of Notes
a notice of the Default within 90 days after the Trustee’s receipt of notice of the occurrence of the Default. Except in
the case of a Default relating to the payment of principal, premium, if any, or interest on any Note, the Trustee may withhold
from the Holders notice of any continuing Default if and so long as it in good faith determines that withholding the notice is
in the interests of the Holders of the Notes. The Trustee shall not be deemed to know of any Default unless a Responsible Officer
of the Trustee has actual knowledge thereof or unless written notice of any event which is such a Default is received by the Trustee
at the Corporate Trust Office of the Trustee.

 

Section 7.06        
Reports by Trustee to Holders of the Notes.

 

Within 60 days after
each July 1, beginning with the July 1 following the date of this Indenture, and for so long as Notes remain outstanding,
the Trustee shall send to the Holders of the Notes a brief report dated as of such reporting date that would comply with Trust
Indenture Act Section 313(a) (but if no event described in Trust Indenture Act Section 313(a) has occurred within the
twelve months preceding the reporting date, no report need be transmitted). The Trustee also shall comply with Trust

 

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Indenture Act Section 313(b)(2).
The Trustee shall also transmit by mail or electronically in accordance with the Applicable Procedures all reports as would be
required by Trust Indenture Act Section 313(c).

 

A copy of each report
at the time of its mailing to the Holders of Notes shall be sent to the Issuer and filed with the SEC and each stock exchange on
which the Notes are listed in accordance with Trust Indenture Act Section 313(d) if this Indenture is qualified under the
Trust Indenture Act. The Issuer shall promptly notify the Trustee in writing when any Notes are listed on any stock exchange or
any delisting thereof.

 

Section 7.07        
Compensation and Indemnity.

 

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

 

The Issuer and the
Guarantors, jointly and severally, shall indemnify the Trustee for, and hold the Trustee, its officers, directors, employees and
agents harmless against, any and all loss, damage, claims, liability or expense (including, without limitation, attorneys’
fees and expenses) incurred by it (as evidenced in an invoice from the Trustee) in connection with the acceptance or administration
of this trust and the performance of its duties hereunder (including the costs and expenses of enforcing this Indenture against
the Issuer or any of the Guarantors (including this Section 7.07) or defending itself against any claim whether asserted
by any Holder, the Issuer or any Guarantor, or liability in connection with the acceptance, exercise or performance of any of its
powers or duties hereunder). The Trustee shall notify the Issuer promptly of any claim for which it may seek indemnity. Failure
by the Trustee to so notify the Issuer shall not relieve the Issuer of its obligations hereunder. The Issuer shall defend the claim
and the Trustee may have separate counsel and the Issuer shall pay the fees and expenses of such counsel. The Issuer need not reimburse
any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own willful
misconduct, negligence or bad faith.

 

The obligations of
the Issuer under this Section 7.07 shall survive the satisfaction and discharge of this Indenture, including any termination
or rejection hereof under any Bankruptcy Law, or the earlier resignation, removal or replacement of the Trustee.

 

To secure the payment
obligations of the Issuer and the Guarantors in this Section 7.07, the Trustee shall have a Lien prior to the Notes on all
money or property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Notes.
Such Lien shall survive the satisfaction and discharge of this Indenture, or the earlier resignation, removal or replacement of
the Trustee.

 

When the Trustee incurs
expenses or renders services after an Event of Default specified in Section 6.01(a)(6) or (7) occurs, the
expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute
expenses of administration under any Bankruptcy Law.

 

The Trustee shall comply
with the provisions of Trust Indenture Act Section 313(b)(2) to the extent applicable.

 

Section 7.08        
Replacement of Trustee.

 

A resignation or removal
of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance
of appointment as provided in this Section 7.08.

 

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The Trustee may resign
in writing at any time and be discharged from the trust hereby created by so notifying the Issuer. The Holders of a majority in
principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuer in writing. The
Issuer may remove the Trustee if:

 

(a)          
the Trustee fails to comply with Section 7.10;

 

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

 

(c)          
a custodian or public officer takes charge of the Trustee or its property; or

 

(d)          
the Trustee becomes incapable of acting.

 

If the Trustee resigns
or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuer shall promptly appoint a successor Trustee.
Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding
Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer.

 

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

 

If the Trustee, after
written request by any Holder who has been a Holder for at least six months, fails to comply with Section 7.10, such Holder
may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

 

A successor Trustee
shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon, the resignation or
removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties
of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee
shall promptly transfer all property held by it as Trustee to the successor Trustee; provided all sums owing to the Trustee
hereunder have been paid and subject to the Lien provided for in Section 7.07. Notwithstanding replacement of the Trustee
pursuant to this Section 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of
the retiring Trustee.

 

Section 7.09        
Successor Trustee by Merger, etc.

 

If the Trustee consolidates,
merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor
corporation without any further act shall be the successor Trustee.

 

In case at the time
such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by this
Indenture any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate
of authentication of any predecessor trustee, and deliver such Notes so authenticated; and in case at that time any of the Notes
shall not have been authenticated, any successor to the Trustee may authenticate such Notes either in the name of any predecessor
hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which
it is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee shall have.

 

Section 7.10        
Eligibility; Disqualification.

 

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There shall at all
times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of America
or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision
or examination by federal or state authorities and that has a combined capital and surplus of at least $50,000,000 as set forth
in its most recent published annual report of condition.

 

This Indenture shall
always have a Trustee who satisfies the requirements of Trust Indenture Act Sections 310(a)(1), (2) and (5). The Trustee shall
be subject to Trust Indenture Act Section 310(b).

 

Section 7.11        
Preferential Collection of Claims Against Issuer.

 

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

 

Article
VIII

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

 

Section 8.01        
Option to Effect Legal Defeasance or Covenant Defeasance. The Issuer may, at its option and at any time, elect
to have either Section 8.02 or 8.03 be applied to all outstanding Notes upon compliance with the conditions set
forth below in this Article VIII.

 

Section 8.02        
Legal Defeasance and Discharge. Upon the Issuer’s exercise under Section  8.01 of the option
applicable to this Section 8.02, the Issuer and the Guarantors shall, subject to the satisfaction of the conditions set
forth in Section 8.04, be deemed to have been discharged from their obligations with respect to all outstanding Notes and
Guarantees on the date the conditions set forth below are satisfied (“Legal Defeasance”). For this purpose,
Legal Defeasance means that the Issuer shall be deemed to have paid and discharged the entire Indebtedness represented by the
outstanding Notes, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.05
and the other Sections of this Indenture referred to in (a) and (b) below, and to have satisfied all its other obligations
under the Notes and this Indenture including that of the Guarantors (and the Trustee, on demand of and at the expense of the Issuer,
shall execute such instruments as reasonably requested by the Issuer acknowledging the same), except for the following provisions
which shall survive until otherwise terminated or discharged hereunder:

 

(a)          
the rights of Holders of Notes to receive payments in respect of the principal of, premium, if any, and interest on such
Notes when such payments are due solely out of the trust created pursuant to this Indenture referred to in Section 8.04;

 

(b)          
the Issuer’s obligations with respect to the Notes concerning issuing temporary Notes, registration of such Notes,
mutilated, destroyed, lost or stolen Notes and the maintenance of an office or agency for payment and money for security payments
held in trust;

 

(c)          
the rights, powers, trusts, duties and immunities of the Trustee, and the Issuer’s obligations in connection therewith;
and

 

(d)          
the provisions of this Section 8.02.

 

Subject to compliance
with this Article VIII, the Issuer may exercise its option under this Section 8.02 notwithstanding the prior
exercise of its option under Section 8.03 hereof.

 

Section 8.03        
Covenant Defeasance. Upon the Issuer’s exercise under Section 8.01 of the option applicable to
this Section 8.03, the Issuer and the Guarantors shall, subject to the satisfaction of the

 

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conditions set forth in Section 8.04,
be released from their obligations under the covenants contained in Sections 3.09, 4.03, 4.04, 4.05,
4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14 and 4.15 hereof and
clauses (3) and (4) of Section 5.01(a), Sections 5.01(c) and 5.01(d) hereof with respect to the
outstanding Notes on and after the date the conditions set forth in Section 8.04 are satisfied (“Covenant Defeasance”),
and such Notes shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration
or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding”
for all other purposes hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes).
For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Issuer or any Guarantor, as applicable,
may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant,
whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference
in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a
Default or an Event of Default under Section 6.01, but, except as specified above, the remainder of this Indenture and the
Notes shall be unaffected thereby. In addition, upon the Issuer’s exercise under Section 8.01 of the option applicable
to this Section 8.03, subject to the satisfaction of the conditions set forth in Section 8.04, Sections 6.01(a)(3),
(4), (5), (6) (solely with respect to Significant Subsidiaries) and (7) (solely with respect
to Significant Subsidiaries) shall not constitute Events of Default.

 

Section 8.04        
Conditions to Legal or Covenant Defeasance. The following shall be the conditions to the application of either
Section 8.02 or 8.03 to the outstanding Notes:

 

In order to exercise
either Legal Defeasance or Covenant Defeasance with respect to the Notes:

 

(a)          
the Issuer must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders of the Notes, cash in U.S. dollars,
Government Securities, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized
firm of independent public accountants, to pay the principal amount of, premium, if any, and interest due on the Notes on the stated
maturity date or on the Redemption Date, as the case may be, of such principal amount, premium, if any, or interest on the Notes;
provided, that in connection with any defeasance to a Redemption Date that would require the payment of the Applicable Premium,
the amount deposited in respect of the Applicable Premium shall be sufficient for purpose of this Indenture to the extent that
an amount is deposited with the Trustee equal to the Applicable Premium calculated as of the date of the deposit, with any deficit
on such Redemption Date (any such amount, the “Applicable Premium Deficit”) only required to be deposited with
the Trustee on or prior to the corresponding Redemption Date. Any Applicable Premium Deficit shall be set forth in an Officer’s
Certificate delivered to the Trustee simultaneously with the deposit of such Applicable Premium Deficit that confirms that such
Applicable Premium Deficit shall be applied toward such redemption;

 

(b)          
in the case of Legal Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel confirming that, subject
to customary assumptions and exclusions,

 

(i)                
the Issuer has received from, or there has been published by, the United States Internal Revenue Service a ruling, or

 

(ii)              
since the issuance of the Notes, there has been a change in the applicable U.S. federal income tax law, in either case
to the effect that, and based thereon such Opinion of Counsel shall confirm that, subject to customary assumptions and exclusions,
the beneficial owners of the Notes will not recognize income, gain or loss for U.S. federal income tax purposes, as applicable,
as a result of such Legal Defeasance and will be

 

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subject to
U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such
Legal Defeasance had not occurred;

 

(c)          
in the case of Covenant Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel confirming that,
subject to customary assumptions and exclusions, the beneficial owners of the Notes will not recognize income, gain or loss for
U.S. federal income tax purposes as a result of such Covenant Defeasance and will be subject to such tax on the same amounts,
in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

 

(d)          
no Default (other than that resulting from borrowing funds to be applied to make such deposit and any similar and simultaneous
deposit relating to other Indebtedness and, in each case, the granting of Liens in connection therewith) shall have occurred and
be continuing on the date of such deposit;

 

(e)          
such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under
the New Senior Secured Credit Facilities or any other material agreement or instrument (other than this Indenture) to which, the
Issuer or any Guarantor is a party or by which the Issuer or any Guarantor is bound (other than that resulting from borrowing funds
to be applied to make such deposit and any similar and simultaneous deposit relating to other Indebtedness and, in each case, the
granting of Liens in connection therewith);

 

(f)          
the Issuer shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made by the
Issuer with the intent of defeating, hindering, delaying or defrauding any creditors of the Issuer or any Guarantor or others;
and

 

(g)         
the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel (which Opinion of
Counsel may be subject to customary assumptions and exclusions) each stating that all conditions precedent provided for or relating
to the Legal Defeasance or the Covenant Defeasance, as the case may be, have been complied with.

 

Section 8.05        
Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions. Subject to Section
8.06, all money and Government Securities (including the proceeds thereof) deposited with the Trustee pursuant to Section
8.04 in respect of the outstanding Notes shall be held in trust and applied by the Trustee in accordance with the provisions
of such Notes and this Indenture, to the payment, either directly or through the Paying Agent (including the Issuer or a Guarantor
acting as Paying Agent), as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon
in respect of principal, premium and interest, but such money need not be segregated from other funds except to the extent required
by law.

 

The Issuer shall pay
and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or Government Securities
deposited pursuant to Section 8.04 or the principal and interest received in respect thereof other than any such tax, fee
or other charge which by law is for the account of the Holders of the outstanding Notes.

 

Anything in this Article
VIII to the contrary notwithstanding, the Trustee shall deliver or pay to the Issuer from time to time upon the request of
the Issuer any money or Government Securities held by it as provided in Section 8.04 which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which
may be the opinion delivered under Section 8.04(i)), are in excess of the amount thereof that would then be required
to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

 

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Section 8.06        
Repayment to Issuer. Subject to abandoned property law, any money deposited with the Trustee or any Paying Agent,
or then held by the Issuer, in trust for the payment of the principal of, premium or interest on any Note and remaining unclaimed
for two years after such principal, and premium or interest has become due and payable shall be paid to the Issuer on its request
or (if then held by the Issuer) shall be discharged from such trust; and the Holder of such Note shall thereafter look only to
the Issuer for payment thereof, and all liability of the Trustee or any Paying Agent with respect to such trust money, and all
liability of the Issuer as trustee thereof, shall thereupon cease.

 

Section 8.07        
Reinstatement. If the Trustee or the Paying Agent is unable to apply any United States dollars or Government
Securities in accordance with Section 8.02 or 8.03, as the case may be, by reason of any order or judgment of any
court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Issuer’s obligations
under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.02
or 8.03 until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.02
or 8.03, as the case may be; provided that, if the Issuer makes any payment of principal of, premium or interest
on any Note following the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such
Notes to receive such payment from the money held by the Trustee or the Paying Agent.

 

Article
IX

AMENDMENT, SUPPLEMENT AND WAIVER

 

Section 9.01        
Without Consent of Holders of Notes. Notwithstanding Section 9.02, the Issuer, any Guarantor (with respect
to a Guarantee or this Indenture) and the Trustee may amend or supplement this Indenture and any Guarantee or Notes without the
consent of any Holder:

 

(1)              
to cure any ambiguity, omission, mistake, defect or inconsistency;

 

(2)              
to provide for certificated Notes in addition to or in place of uncertificated Notes;

 

(3)              
to comply with Section 5.01;

 

(4)              
to provide for the assumption of the Issuer’s or any Guarantor’s obligations to the Holders as required by this
Indenture;

 

(5)              
to make any change that would provide any additional rights or benefits to the Holders or that does not materially adversely
affect the legal rights under this Indenture of any such Holder;

 

(6)              
to add covenants for the benefit of the Holders, to secure the Notes and the Guarantees or to surrender any right or power
conferred upon the Issuer or any Guarantor;

 

(7)              
to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the Trust
Indenture Act, in the event this Indenture is to be or has been qualified under the Trust Indenture Act;

 

(8)              
to evidence and provide for the acceptance and appointment under this Indenture of a successor Trustee thereunder pursuant
to the requirements thereof;

 

(9)              
to add a Guarantor under this Indenture;

 

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(10)          
to conform the text of this Indenture, Guarantees or the Notes to any provision of the “Description of Notes”
section of the Offering Memorandum to the extent that such provision in such “Description of Notes” section
was intended to be a substantially verbatim recitation of a provision of this Indenture, Guarantee or Notes;

 

(11)          
to make any amendment to the provisions of this Indenture relating to the transfer and legending of Notes as permitted by
this Indenture, including, without limitation to facilitate the issuance and administration of the Notes; provided that
(i) compliance with this Indenture as so amended would not result in Notes being transferred in violation of the Securities
Act or any applicable securities law and (ii) such amendment does not materially and adversely affect the rights of Holders
to transfer Notes; or

 

(12)          
to provide for the issuance of Exchange Notes or private exchange notes, which are identical to the Exchange Notes except
that they are not freely transferable.

 

Upon the request of
the Issuer accompanied by resolutions of its board of directors authorizing the execution of any such amended or supplemental indenture,
and upon receipt by the Trustee of the documents described in Section 9.05, the Trustee shall join with the Issuer and the
Guarantors, as applicable, in the execution of any amended or supplemental indenture authorized or permitted by the terms of this
Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall
not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties, liabilities or immunities
under this Indenture or otherwise. Notwithstanding the foregoing, no Opinion of Counsel shall be required in connection with the
addition of a Guarantor under this Indenture upon execution and delivery by such Guarantor and the Trustee of a supplemental indenture
to this Indenture, the form of which is attached as Exhibit D hereto, and delivery of an Officer’s Certificate.

 

Section 9.02        
With Consent of Holders of Notes. Except as provided below in this Section 9.02, the Issuer and
the Trustee may amend or supplement this Indenture, the Notes and the Guarantees with the consent of the Holders of at least a
majority in principal amount of the Notes then outstanding (including, without limitation, consents obtained in connection with
a tender offer or exchange offer for, or purchase of, the Notes), and, subject to Sections 6.04 and 6.07, any existing
Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium or interest
on the Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision
of this Indenture, the Guarantees or the Notes may be waived with the consent of the Holders of a majority in principal amount
of the then outstanding Notes (including consents obtained in connection with a tender offer or exchange offer for, or purchase
of, the Notes). Section 2.08 and Section 2.09 shall determine the Notes that are considered to be “outstanding”
for the purposes of this Section 9.02.

 

Upon the request of
the Issuer accompanied by resolutions of its board of directors authorizing the execution of any such amended or supplemental indenture
or waiver, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes
as aforesaid, and upon receipt by the Trustee of the documents described in Section 9.05, the Trustee shall join with the
Issuer in the execution of such amended or supplemental indenture unless such amended or supplemental indenture affects the Trustee’s
own rights, duties, liabilities or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion,
but shall not be obligated to, enter into such amended or supplemental indenture.

 

It shall not be necessary
for the consent of the Holders of Notes under this Section 9.02 to approve the particular form of any proposed amendment
or waiver, but it shall be sufficient if such consent approves the substance thereof.

 

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After an amendment,
supplement or waiver under this Section 9.02 becomes effective, the Issuer shall mail to the Holders of the Notes affected
thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Issuer to mail such notice, or any
defect therein, shall not, however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver.

 

Without the consent
of each affected Holder of Notes, an amendment or waiver under this Section 9.02 may not, with respect to any Notes
held by a non-consenting Holder:

 

(1)              
reduce the principal amount of such Notes whose Holders must consent to an amendment, supplement or waiver;

 

(2)              
reduce the principal amount of or change the fixed final maturity of any such Note or alter or waive the provisions with
respect to the redemption of such Notes (other than provisions relating to Section 3.09, Section 4.10 and Section
4.14 to the extent that any such amendment or waiver does not have the effect of reducing the principal of or changing the
fixed final maturity of any such Note or altering or waiving the provisions with respect to the redemption of such Notes);

 

(3)              
reduce the rate of or change the time for payment of interest on any Note;

 

(4)              
waive a Default in the payment of principal of, premium, if any, or interest on the Notes, except a rescission of acceleration
of the Notes by the Holders of at least a majority in aggregate principal amount of the Notes and a waiver of the payment default
that resulted from such acceleration, or in respect of a covenant or provision contained in this Indenture or any Guarantee which
cannot be amended or modified without the consent of all Holders;

 

(5)              
make any such Note payable in money other than that stated therein;

 

(6)              
make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders to receive
payments of principal of or premium, if any, or interest on the Notes;

 

(7)              
make any change in these amendment and waiver provisions;

 

(8)              
impair the right of any Holder to receive payment of principal of, premium, if any, or interest on such Holder’s Notes
on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s
Notes;

 

(9)              
subordinate the Notes to other Indebtedness of the Issuer or any Guarantor in a manner that would adversely affect the Holders;
or

 

(10)          
except as expressly permitted by this Indenture, modify the Guarantees of any Significant Subsidiary in any manner adverse
to the Holders of the Notes.

 

Section 9.03        
Revocation and Effect of Consents. Until an amendment, supplement or waiver becomes effective, a consent to
it by a Holder of a Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or portion of a
Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note.
However, any such Holder of a Note or subsequent Holder of a Note may revoke the consent as to its Note if the Trustee receives
written notice of revocation before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or
waiver becomes effective in accordance with its terms and thereafter binds every Holder.

 

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The Issuer may, but
shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to consent to any amendment, supplement,
or waiver. If a record date is fixed, then, notwithstanding the preceding paragraph, those Persons who were Holders at such record
date (or their duly designated proxies), and only such Persons, shall be entitled to consent to such amendment, supplement, or
waiver or to revoke any consent previously given, whether or not such Persons continue to be Holders after such record date. No
such consent shall be valid or effective for more than 120 days after such record date unless the consent of the requisite number
of Holders has been obtained.

 

Section 9.04        
Notation on or Exchange of Notes. The Trustee may place an appropriate notation about an amendment, supplement
or waiver on any Note thereafter authenticated. The Issuer in exchange for all Notes may issue and the Trustee shall, upon receipt
of an Authentication Order, authenticate new Notes that reflect the amendment, supplement or waiver.

 

Failure to make the
appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver.

 

Section 9.05        
Trustee to Sign Amendments, etc. The Trustee shall sign any amendment, supplement or waiver authorized pursuant
to this Article IX if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities
of the Trustee. The Issuer may not sign an amendment, supplement or waiver until its board of directors approves it. In executing
any amendment, supplement or waiver, the Trustee shall receive and (subject to Section 7.01) shall be fully protected in
conclusively relying upon, in addition to the documents required by Section 12.03, an Officer’s Certificate and an
Opinion of Counsel stating that the execution of such amendment, supplement or waiver is authorized or permitted by this Indenture
and that such amendment, supplement or waiver is the legal, valid and binding obligation of the Issuer and any Guarantors party
thereto, enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions
hereof (including Section 9.06). Notwithstanding the foregoing, no Opinion of Counsel will be required for the Trustee
to execute any amendment or supplement adding a new Guarantor under this Indenture.

 

Section 9.06        
Compliance with Trust Indenture Act. If this Indenture is qualified under the Trust Indenture Act, then every
amendment or supplement to this Indenture or the Notes shall be set forth in a supplemental indenture that complies with the Trust
Indenture Act.

 

Article
X

GUARANTEES

 

Section 10.01    
Guarantee. Each of the Guarantors hereby, jointly and severally, irrevocably and unconditionally, guarantees
to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective
of the validity and enforceability of this Indenture, the Notes or the obligations of the Issuer hereunder or thereunder, that:
(a) the principal of, interest and premium, if any, on the Notes shall be promptly paid in full when due, whether at maturity,
by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful,
and all other obligations of the Issuer to the Holders or the Trustee hereunder or thereunder shall be promptly paid in full or
performed, all in accordance with the terms hereof and thereof; and (b) in case of any extension of time of payment or renewal
of any Notes or any of such other obligations, that same shall be promptly paid in full when due or performed in accordance with
the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any
amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantors shall be jointly and severally obligated
to pay the same immediately. Each Guarantor agrees that this is a guarantee of payment and not a guarantee of collection.

 

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The Guarantors hereby
agree that their obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the
Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect
to any provisions hereof or thereof, the recovery of any judgment against the Issuer, any action to enforce the same or any other
circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Guarantor hereby waives
diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Issuer,
any right to require a proceeding first against the Issuer, protest, notice and all demands whatsoever and covenants that this
Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes and this Indenture.

 

Each Guarantor also
agrees to pay any and all costs and expenses (including reasonable attorneys’ fees) incurred by the Trustee or any Holder
in enforcing any rights under this Section 10.01.

 

If any Holder or the
Trustee is required by any court or otherwise to return to the Issuer, the Guarantors or any custodian, trustee, liquidator or
other similar official acting in relation to either the Issuer or the Guarantors, any amount paid either to the Trustee or such
Holder, this Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect.

 

Each Guarantor agrees
that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby
until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on the
one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be
accelerated as provided in Article VI for the purposes of this Guarantee, notwithstanding any stay, injunction or other
prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any declaration
of acceleration of such obligations as provided in Article VI, such obligations (whether or not due and payable) shall
forthwith become due and payable by the Guarantors for the purpose of this Guarantee. The Guarantors shall have the right to seek
contribution from any non-paying Guarantor so long as the exercise of such right does not impair the rights of the Holders under
the Guarantees.

 

Each Guarantee shall
remain in full force and effect and continue to be effective should any petition be filed by or against the Issuer for liquidation,
reorganization, should the Issuer become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee
be appointed for all or any significant part of the Issuer’s assets, and shall, to the fullest extent permitted by law, continue
to be effective or be reinstated, as the case may be, if at any time payment and performance of the Notes are, pursuant to applicable
law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on the Notes or Guarantees, whether
as a “voidable preference,” “fraudulent transfer” or otherwise, all as though such payment or performance
had not been made. In the event that any payment or any part thereof, is rescinded, reduced, restored or returned, the Notes shall,
to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced,
restored or returned.

 

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

 

The Guarantee issued
by any Guarantor shall be a general unsecured senior obligation of such Guarantor and shall be pari passu in right of payment
with all existing and future Senior Indebtedness of such Guarantor, if any.

 

Each payment to be
made by a Guarantor in respect of its Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind
or nature.

 

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Section 10.02    
Limitation on Guarantor Liability. Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms
that it is the intention of all such parties that the Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance
for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal
or state law to the extent applicable to any Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the
Guarantors hereby irrevocably agree that the obligations of each Guarantor shall be limited to the maximum amount as will, after
giving effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant under
such laws and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf
of any other Guarantor in respect of the obligations of such other Guarantor under this Article X, result in the obligations
of such Guarantor under its Guarantee not constituting a fraudulent conveyance or fraudulent transfer under applicable law. Each
Guarantor that makes a payment under its Guarantee shall be entitled upon payment in full of all guaranteed obligations under
this Indenture to a contribution from each other Guarantor in an amount equal to such other Guarantor’s pro rata
portion of such payment based on the respective net assets of all the Guarantors at the time of such payment determined in accordance
with GAAP.

 

Section 10.03    
Execution and Delivery. To evidence its Guarantee set forth in Section 10.01 hereof, each initial
Guarantor hereby agrees that this Indenture has been executed on behalf of such Guarantor by one of its Officers.

 

Each Guarantor hereby
agrees that its Guarantee set forth in Section 10.01 shall remain in full force and effect notwithstanding the absence of
the endorsement of any notation of such Guarantee on the Notes.

 

If an Officer whose
signature is on this Indenture or any supplemental indenture in the form of Exhibit D hereto no longer holds that office
at the time the Trustee authenticates the Note, the Guarantee shall be valid nevertheless.

 

Upon execution of a
supplemental indenture to this Indenture by a new Guarantor substantially in the form attached as Exhibit D hereto, the
Note Guarantee of such Guarantor set forth in this Indenture shall be deemed duly delivered, without any further action by any
Person, on behalf of such Guarantor.

 

The delivery of any
Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Guarantee set forth in this
Indenture on behalf of the Guarantors.

 

If required by Section
4.15, the Issuer shall cause any newly created or acquired Restricted Subsidiary to comply with the provisions of Section
4.15 and this Article X, to the extent applicable.

 

Section 10.04    
Subrogation. Each Guarantor shall be subrogated to all rights of Holders of Notes against the Issuer in respect
of any amounts paid by any Guarantor pursuant to the provisions of Section 10.01; provided that, if an Event
of Default has occurred and is continuing, no Guarantor shall be entitled to enforce or receive any payments arising out of, or
based upon, such right of subrogation until all amounts then due and payable by the Issuer under this Indenture or the Notes shall
have been paid in full.

 

Section 10.05    
Benefits Acknowledged. Each Guarantor acknowledges that it will receive direct and indirect benefits from the
financing arrangements contemplated by this Indenture and that the guarantee and waivers made by it pursuant to its Guarantee
are knowingly made in contemplation of such benefits.

 

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Section 10.06    
Release of Guarantees. A Guarantee by a Guarantor shall be automatically and unconditionally released and discharged,
and no further action by such Guarantor, the Issuer or the Trustee is required for the release of such Guarantor’s Guarantee,
upon:

 

(a)          
any sale, exchange or transfer (by merger, consolidation or otherwise) of (i) the Capital Stock of such Guarantor (including
any sale, exchange or transfer), after which such Guarantor is no longer a Restricted Subsidiary or (ii) all or substantially
all the assets of such Guarantor to any Person other than the Issuer or a Restricted Subsidiary, and otherwise in compliance with
the applicable provisions of this Indenture;

 

(b)         
the release or discharge from all of (i) its obligations under all of its guarantees of payment by the Issuer of any
Indebtedness of the Issuer under the New Senior Secured Credit Facilities or (ii) in the case of a Guarantee made by a Guarantor
(each, an “Other Guarantee”) as a result of its guarantee of certain other Indebtedness of the Issuer or a Guarantor
pursuant to Section 4.15, the relevant Indebtedness, except in the case of (i) or (ii), a release as a result
of the repayment in full of the Indebtedness specified in clause (i) or (ii) (it being understood that a release subject
to a contingent reinstatement is still considered a release, and if any such Indebtedness of such Guarantor under the New Senior
Secured Credit Facilities or any Other Guarantee is so reinstated, such Guarantee shall also be reinstated);

 

(c)          
the designation of any Restricted Subsidiary that is a Guarantor as an Unrestricted Subsidiary in compliance with the applicable
provisions of this Indenture; or

 

(d)         
the Issuer exercising its Legal Defeasance option or Covenant Defeasance option in accordance with Article VIII or
the Issuer’s obligations under this Indenture being discharged in accordance with Article XI.

 

Article
XI

SATISFACTION AND DISCHARGE

 

Section 11.01    
Satisfaction and Discharge. This Indenture shall be discharged and shall cease to be of further effect as to
the Notes (except for certain rights of the Trustee and the Issuer’s obligations in
connection therewith that expressly survive), when either:

 

(1)              
all Notes theretofore authenticated and delivered, except lost, stolen or destroyed Notes which have been replaced or paid
and Notes for whose payment money has theretofore been deposited in trust, have been delivered to the Trustee for cancellation;
or

 

(2)              
(a) all Notes not theretofore delivered to the Trustee for cancellation have become due and payable by reason of the making
of a notice of redemption or otherwise, will become due and payable within one year or are to be called for redemption and redeemed
within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name,
and at the expense, of the Issuer, and the Issuer or any Guarantor has irrevocably deposited or caused to be deposited with the
Trustee as trust funds in trust solely for the benefit of the Holders of the Notes cash in U.S. dollars, Government Securities,
or a combination thereof, in such amounts as will be sufficient without consideration of any reinvestment of interest to pay and
discharge the entire indebtedness on the Notes not theretofore delivered to the Trustee for cancellation for principal, premium,
if any, and accrued interest to the date of maturity or redemption; provided that, upon any redemption that requires the
payment of the Applicable Premium, the amount deposited shall be sufficient for purpose of this Indenture to the extent that an
amount is deposited with the Trustee equal to the Applicable Premium calculated as of the date of the notice of redemption, with
any Applicable Premium Deficit only required to be deposited with the Trustee on or prior to the Redemption Date. Any Applicable
Premium Deficit

 

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shall be set
forth in an Officer’s Certificate delivered to the Trustee simultaneously with the deposit of such Applicable Premium Deficit
that confirms that such Applicable Premium Deficit shall be applied toward such redemption;

 

(b)         
no Default (other than that resulting from borrowing funds to be applied to make such deposit and any similar and simultaneous
deposit relating to other Indebtedness and, in each case, the granting of Liens in connection therewith) with respect to this Indenture
or the Notes shall have occurred and be continuing on the date of such deposit or shall occur as a result of such deposit and such
deposit will not result in a breach or violation of, or constitute a default under the New Senior Secured Credit Facilities or
any other material agreement or instrument governing Indebtedness (other than this Indenture) to which the Issuer or any Guarantor
is a party or by which the Issuer or any Guarantor is bound (other than that resulting from borrowing funds to be applied to make
such deposit and any similar and simultaneous deposit relating to other Indebtedness and, in each case, the granting of Liens in
connection therewith);

 

(c)          
the Issuer has paid or caused to be paid all sums payable by it under this Indenture; and

 

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

 

In addition, the Issuer
must deliver an Officer’s Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction
and discharge have been satisfied.

 

Notwithstanding the
satisfaction and discharge of this Indenture, if money shall have been deposited with the Trustee pursuant to subclause (a) of
clause (2) of this Section 11.01, the provisions of Section 11.02 and Section 8.06 shall survive.

 

Section 11.02    
Application of Trust Money. Subject to the provisions of Section 8.06, all money deposited with the Trustee
pursuant to Section 11.01 shall be held in trust and applied by it, in accordance with the provisions of the Notes and
this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer acting as its own Paying Agent)
as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment
such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required
by law.

 

If the Trustee or Paying
Agent is unable to apply any money or Government Securities in accordance with Section 11.01 by reason of any legal proceeding
or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such
application, the Issuer’s and any Guarantor’s obligations under this Indenture and the Notes shall be revived and reinstated
as though no deposit had occurred pursuant to Section 11.01; provided that if the Issuer has made any payment of
principal of, premium, if any, or interest on any Notes because of the reinstatement of its obligations, the Issuer shall be subrogated
to the rights of the Holders of such Notes to receive such payment from the money or Government Securities held by the Trustee
or Paying Agent.

 

Article
XII

MISCELLANEOUS

 

Section 12.01    
Notices. Any notice or communication by the Issuer, any Guarantor, the Trustee or any Paying Agent to the others
is duly given if in writing and delivered in person or mailed by

 

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first-class mail (registered or certified,
return receipt requested), fax or overnight air courier guaranteeing next day delivery, to the others’ address:

 

If to the Issuer and/or any Guarantor:

 

SS&C Technologies Holdings,
Inc.

80 Lamberton Road

Windsor, Connecticut 06095

Attention: Chief Executive Officer,
with a copy to the General Counsel

 

If to the Trustee:

 

Wilmington Trust, National Association

1100 N. Market Street

Wilmington, Delaware 19890

Attention: SS&C Technologies
Holdings Notes Administrator

 

The Issuer, any Guarantor,
the Trustee or any Paying Agent, by notice to the others, may designate additional or different addresses for subsequent notices
or communications.

 

All notices and communications
(other than those sent to Holders) shall be deemed to have been duly given: at the time delivered by hand, if personally delivered;
five calendar days after being deposited in the mail, postage prepaid, if mailed by first-class mail; when receipt acknowledged,
if transmitted electronically or by fax; and the next Business Day after timely delivery to the courier, if sent by overnight air
courier guaranteeing next day delivery; provided that any notice or communication delivered to the Trustee shall be deemed
effective upon actual receipt thereof.

 

Any notice or communication
to a Holder shall be mailed by first-class mail, certified or registered, return receipt requested, or by overnight air courier
guaranteeing next day delivery to its address shown on the register kept by the Registrar. Failure to mail a notice or communication
to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders.

 

Subject to the proviso
in the third paragraph of this Section 12.01, if a notice or communication is mailed in the manner provided above within
the time prescribed, it is duly given, whether or not the addressee receives it.

 

If the Issuer mails
a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time.

 

Notwithstanding any
other provision of this Indenture or any Note, where this Indenture or any Note provides for notice of any event (including any
notice of redemption) to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently given if given
to the Depositary for such Note (or its designee) pursuant to the standing instructions from the Depositary (or its designee),
including by electronic mail in accordance with accepted practices at the Depositary.

 

The Trustee agrees
to accept and act upon notice, instructions or directions sent by unsecured email, PDF, facsimile transmission or other similar
unsecured electronic methods; provided that the Trustee shall not have any duty or obligation to verify or confirm that
the Person sending instructions, directions, reports, notices or other communications or information by unsecured email, PDF, facsimile
or other similar unsecured electronic transmission is, in fact, a Person authorized to give such instructions, directions, reports,
notices or other communications or information on behalf of the party purporting to send such unsecured email, PDF, facsimile or
other similar unsecured electronic transmission; and the Trustee shall not have any liability for any losses, liabilities, damages,
costs or expenses incurred or

 

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sustained by any party
as a result of such reasonable reliance upon or compliance with such instructions, directions, reports, notices or other communications
or information. Each other party hereto agrees to assume all risks arising out of the use of such electronic methods to submit
instructions and directions, reports, notices or other communications or information to the Trustee, including, without limitation,
the risk of the Trustee acting on unauthorized instructions, notices, reports or other communications or information, and the risk
of interception and misuse by third parties.

 

Section 12.02    
Communication by Holders of Notes with Other Holders of Notes. Holders may communicate pursuant to Trust Indenture
Act Section 312(b) with other Holders with respect to their rights under this Indenture or the Notes. The Issuer, the Trustee,
the Registrar and anyone else shall have the protection of Trust Indenture Act Section 312(c).

 

Section 12.03    
Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Issuer or any of
the Guarantors to the Trustee to take any action under this Indenture, the Issuer or such Guarantor, as the case may be, shall
furnish to the Trustee:

 

(a)          
An Officer’s Certificate (which shall include the statements set forth in Section 12.04) stating that, in the
opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed
action have been satisfied; and

 

(b)         
An Opinion of Counsel (which shall include the statements set forth in Section 12.04) stating that, in the opinion
of such counsel, all such conditions precedent and covenants have been satisfied.

 

Section 12.04    
Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance
with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to Section 4.04
or Trust Indenture Act Section 314(a)(4)) shall comply with the provisions of Trust Indenture Act Section 314(e) if
this Indenture is qualified under the Trust Indenture Act and shall include:

 

(a)          
a statement that the Person making such certificate or opinion has read such covenant or condition;

 

(b)         
a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such certificate or opinion are based;

 

(c)         
a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to
enable him to express an informed opinion as to whether or not such covenant or condition has been complied with (and, in the case
of an Opinion of Counsel, may be limited to reliance on an Officer’s Certificate as to matters of fact); and

 

(d)         
a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with.

 

Section 12.05    
Rules by Trustee and Agents. The Trustee may make reasonable rules for action by or at a meeting of Holders.
The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

 

Section 12.06    
No Personal Liability of Directors, Officers, Employees and Stockholders. No past, present or future director,
officer, employee, incorporator or stockholder of the Issuer or any Guarantor shall have any liability for any obligations of
the Issuer or the Guarantors under the Notes, the Guarantees or this Indenture or for any claim based on, in respect of, or by
reason of such obligations or their creation. Each Holder by accepting Notes waives and releases all such liability. The waiver
and release are part of the consideration for issuance of the Notes.

 

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Section 12.07    
Governing Law. THIS INDENTURE, THE NOTES AND ANY GUARANTEE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK.

 

Section 12.08    
Waiver of Jury Trial. EACH OF THE ISSUER, THE GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS
INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

Section 12.09    
Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance
of its obligations under this Indenture arising out of or caused by, directly or indirectly, forces beyond its reasonable control,
including without limitation strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear
or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software
or hardware) services.

 

Section 12.10    
No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret any other indenture,
loan or debt agreement of the Issuer or any of the Restricted Subsidiaries or of any other Person. Any such indenture, loan or
debt agreement may not be used to interpret this Indenture.

 

Section 12.11    
Successors. All agreements of the Issuer in this Indenture and the Notes shall bind their successors.
All agreements of the Trustee in this Indenture shall bind its successors. All agreements of each Guarantor in this Indenture
shall bind its successors, except as otherwise provided in Section 10.05.

 

Section 12.12    
Severability. In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 12.13    
Counterpart Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be
an original, but all of them together represent the same agreement. The exchange of copies of this Indenture and of signature
pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto
and may be used in lieu of the original Indenture and signature pages for all purposes.

 

Section 12.14    
Table of Contents, Headings, etc. The Table of Contents, Cross-Reference Table and headings of the Articles
and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture
and shall in no way modify or restrict any of the terms or provisions hereof.

 

Section 12.15    
Waiver of Immunity. To the extent that the Issuer or any Guarantor may be entitled, in any jurisdiction in which
judicial proceedings may at any time be commenced with respect to or arising out of this Indenture, to claim for itself or its
revenues, assets or properties immunity (whether by reason of sovereignty or otherwise) from suit, from the jurisdiction of any
court (including but not limited to any court of the United States of America or the State of New York), from attachment prior
to judgment, from set-off, from execution of a judgment or from any other legal process, and to the extent that in any such jurisdiction
there may be attributed such an immunity (whether or not claimed), the Issuer or such Guarantor hereby irrevocably agrees not
to claim and hereby irrevocably waives such immunity to the extent permitted by law.

 

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Section 12.16    
U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot
Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is
required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship
or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information
as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act.

 

[Remainder of Page Intentionally Blank]

 

 

 

    	104

    	 

    

IN WITNESS WHEREOF,
the parties have executed this Indenture as of the date first written above.

 

 

	 	 	ISSUER:
	 	 	 
	 	 	SS&C TECHNOLOGIES HOLDINGS, INC.
	 	 	 
	 	 	 
			 	By:	/s/ Patrick J. Pedonti
	 	 	 	 	Name:	Patrick J. Pedonti
	 	 	 	 	Title:	Senior Vice President
and Chief Financial Officer

 

 

	 	 	GUARANTORS:
	 	 	 
	 	 	SS&C TECHNOLOGIES, INC.
	 	 	 
	 	 	 
			 	By:	/s/ Patrick J. Pedonti
	 	 	 	 	Name:	Patrick J. Pedonti
	 	 	 	 	Title:	Senior Vice President,
Chief Financial Officer and Treasurer

 

 

	 	 	FINANCIAL MODELS COMPANY LTD.
	 	 	 
	 	 	 
			 	By:	/s/ Patrick J. Pedonti
	 	 	 	 	Name:	Patrick J. Pedonti
	 	 	 	 	Title:	Senior Vice President and Treasurer

 

 

	 	 	ADVENT SOFTWARE, INC.
	 	 	 
	 	 	 
			 	By:	/s/ Patrick J. Pedonti
	 	 	 	 	Name:	Patrick J. Pedonti
	 	 	 	 	Title:	Vice President and Treasurer

 

 

	 	 	HUB DATA INCORPORATED
	 	 	 
	 	 	 
			 	By:	/s/ James Cox
	 	 	 	 	Name:	James Cox
	 	 	 	 	Title:	Officer

 

    	 

    	 

    

 

	 	 	

WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee

	 	 	 
	 	 	 
			 	By:	/s/ Joshua C. Jones
	 	 	 	 	Name:	Joshua C. Jones
	 	 	 	 	Title:	Assistant Vice President

 

 

 

 

 

 

 
  

 

    	 

    	 

    

Exhibit A

[Form of Face of Note]

 

[Insert the Global Note Legend, if applicable
pursuant to the provisions of the Indenture]

 

[Insert the Private Placement Legend, if
applicable pursuant to the provisions of the Indenture]

 

SS&C TECHNOLOGIES HOLDINGS, INC.

 

5.875% Senior Notes due 2023

 

CUSIP [●]

 

ISIN [●]

 

	No. [●]	[Initially]1 $[●]

 

SS&C Technologies
Holdings, Inc., a Delaware corporation (the “Issuer”) promises to pay to [CEDE & CO.][1]
[●][2], or its registered assigns, the principal
sum of [●] DOLLARS ($[●]) [(or such other amount as set forth on the Schedule of Exchanges of Interests in the Global
Note attached hereto)][3] on July 15, 2023.

 

Interest Rate: 5.875% per
annum

 

Interest Payment Dates:
January 15 and July 15

 

Record Dates: January 1
and July 1

 

Reference is hereby
made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as
if set forth at this place.

 

[Remainder of Page Intentionally Blank]

 

 

 

 

_______________________

		[1]	For Global Notes.

		[1]	For Definitive Notes.

		[1]	For Global Notes.

 

 

 

    	Exhibit A-1

    	 

    

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

 

 

	 	 	

SS&C TECHNOLOGIES HOLDINGS,
INC.

	 	 	 
	 	 	 
			 	By:	
	 	 	 	 	Name:	
	 	 	 	 	Title:	

 

 

 

 

 

    	Exhibit A-2

    	 

    

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

This is one of the Notes referred to in
the within-mentioned Indenture:

 

 

	 	 	

WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee

	 	 	 
	 	 	 
			 	By:	
	 	 	 	 	 Authorized Signatory
	 	 	 	 		

 

Dated:[____________].

 

 

 

 

 

    	Exhibit A-1

    	 

    

[FORM OF REVERSE SIDE
OF NOTE]

 

SS&C TECHNOLOGIES HOLDINGS, INC.

 

5.875% Senior Notes due 2023

 

Capitalized terms used
herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

 

1.Interest.
The Issuer promises to pay interest on the principal amount of this Note at 5.875% per annum from [_________] until maturity.
The Issuer will pay interest semi-annually in arrears on January 15 and July 15 of each year, or if any such day is not a
Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”)
and no interest shall accrue on such payment by reason of such delay. Interest on the Notes will accrue from the most recent
date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that the first
Interest Payment Date shall be [_________]. The Issuer will pay interest on overdue principal, premium, if any, and, to the extent
lawful, interest, at a rate per annum that is otherwise applicable to this Note. Interest not paid when due and any interest on
principal, premium or interest not paid when due will be paid to the Persons that are Holders on a special record date, as further
described in the Indenture. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months.

 

2.Method of
Payment. The Issuer will pay interest on the Notes to the Persons who are registered Holders of Notes at the close of business
on the Record Date next preceding the relevant Interest Payment Date, even if such Notes are canceled after such Record Date and
on or before such Interest Payment Date, except as provided in the Indenture with respect to defaulted interest. Payment of interest
may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment
by wire transfer of immediately available funds will be required with respect to principal of and interest and premium, if any,
on, all Global Notes and all other Notes the Holders of which shall have provided wire transfer instructions to the Issuer or the
Paying Agent. Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts.

 

3.Paying Agent
and Registrar. Initially, the Trustee will act as Paying Agent and Registrar. The Issuer may change any Paying Agent or Registrar
without notice to the Holders. The Issuer or any of its Subsidiaries may act in any such capacity.

 

4.Indenture;
Registration Rights Agreement. The Issuer issued the Notes under an Indenture, dated as of July 8, 2015 (the “Indenture”),
among the Issuer, the guarantors party thereto and the Trustee. This Note is one of a duly authorized issue of notes of the Issuer
designated as its 5.875% Senior Notes due 2023. The Issuer shall be entitled to issue Additional Notes pursuant to, and subject
to the conditions set forth in, the Indenture. To the extent any provision of this Note conflicts with the express provisions of
the Indenture, the provisions of the Indenture shall govern and be controlling. In addition, the Holder of this Note is entitled
to the benefits of the Registration Rights Agreement, dated as of July 8, 2015 (the “Registration Rights Agreement”),
among the Issuer, the guarantors party thereto and Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc., as representatives
of the several initial purchasers of the Notes, which provides in certain circumstances for the payment of additional interest.

 

5.Optional Redemption;
Offers to Repurchase. This Note is subject to optional redemption, and may be the subject of an Asset Sale Offer or a Change
of Control Offer, as further described in the Indenture. The Issuer shall not be required to make mandatory redemption or sinking
fund payments with respect to the Notes.

 

 

    	Exhibit A-2

    	 

    

6.Denominations,
Transfer, Exchange. The Notes are in registered form without coupons in minimum denominations of $2,000 and integral multiples
of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The
Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents
and the Issuer may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Issuer need not
exchange or register the transfer of any Notes or portion of a Note selected for redemption, except for the unredeemed portion
of any Notes being redeemed in part. Also, the Issuer need not exchange or register the transfer of any Notes for a period of 15
days before a selection of Notes to be redeemed.

 

7.Persons Deemed
Owners. The registered Holder of a Note may be treated as its owner for all purposes.

 

8.Amendment,
Supplement and Waiver. The Indenture, the Guarantees or the Notes may be amended or supplemented as provided in the Indenture.

 

9.Defaults and
Remedies. In the case of an Event of Default, as defined in the Indenture, arising from certain events of bankruptcy or insolvency
with respect to the Issuer, all outstanding Notes will become due and payable immediately without further action or notice. If
any other Event of Default occurs and is continuing, the Trustee by written notice to the Issuer or the Holders of at least 25%
in aggregate principal amount of the then outstanding Notes by written notice to the Issuer and the Trustee may declare all the
then outstanding Notes to be due and payable immediately.

 

10.Authentication.
This Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose until authenticated
by the manual signature of the Trustee.

 

11.GOVERNING
LAW. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THE NOTES AND THE GUARANTEES.

 

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

 

The Issuer will furnish
to any Holder upon written request and without charge a copy of the Indenture and the Registration Rights Agreement. Requests may
be made to the Issuer at the following address:

 

SS&C Technologies Holdings, Inc.

80 Lamberton Road

Windsor, Connecticut 06095

Attention: Chief Executive Officer, with a copy to the General
Counsel

 

 

    	Exhibit A-3

    	 

    

ASSIGNMENT FORM

 

To assign this Note,
fill in the form below:

 

	(I) or (we) assign and transfer this Note to:	 
	(Insert assignee’ legal name)
	 
	(Insert assignee’s social security or tax I.D. number)
	 
	 
	 
	 
	(Print or type assignee’s name, address and zip code)
	 

 

 

and irrevocably appoint [●] to transfer
this Note on the books of the Issuer. The agent may substitute another to act for him.

 

Date: [●]

 

___________________________________

Your Signature:

(Sign exactly as your name

appears on the face of this Note)

 

___________________________________

 

Signature Guarantee*:

 

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

 

 

 

    	Exhibit A-4

    	 

    

OPTION OF HOLDER TO ELECT REPURCHASE

 

If you want to elect
to have this Note repurchased by the Issuer pursuant to Section 4.10 or 4.14 of the Indenture, check the appropriate
box below:

 

[_] Section 4.10     [_] Section 4.14

 

If you want to elect
to have only part of this Note repurchased by the Issuer pursuant to Section 4.10 or Section 4.14 of the
Indenture, state the amount you elect to have repurchased:

 

$ [●]

 

Date: [●]

 

___________________________________

Your Signature:

(Sign exactly as your name

appears on the face of this Note)

 

 

___________________________________

Signature Guarantee*:

 

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

 

 

 

 

    	Exhibit A-5

    	 

    

SCHEDULE OF EXCHANGES OF INTERESTS IN
THE GLOBAL NOTE*

 

The initial outstanding
principal amount of this Global Note is $[●]. The following exchanges of a part of this Global Note for an interest in another
Global Note or for a Definitive Note, or exchanges of a part of another Global or Definitive Note for an interest in this Global
Note, have been made:

 

	
        Date
        of Exchange

         
	
        Amount
        of decrease in Principal Amount of this Global Note

         
	
        Amount
        of increase in Principal Amount of this Global Note

         
	
        Principal
        Amount of this Global Note following such decrease or increase

         
	
        Signature
        of authorized signatory of Trustee or Custodian

         

	
 

	
 

	
 

	
 

	
 

 
 

 

 

___________________________

* For Global Notes.

 
 

    	Exhibit A-6

    	 

    

Exhibit B

Form of Certificate of Transfer

 

SS&C Technologies Holdings, Inc.

80 Lamberton Road

Windsor, Connecticut 06095

Attention: Chief Executive Officer, with a copy to the General
Counsel

 

Wilmington Trust, National Association

1100 N. Market Street

Wilmington, Delaware 19890

Attention: SS&C Technologies Holdings Notes Administrator

 

Re: 5.875% Senior Notes due 2023

 

Reference is hereby
made to the Indenture, dated as of July 8, 2015 (the “Indenture”), by and among SS&C Technologies Holdings,
Inc., the guarantors party thereto and the Trustee. Capitalized terms used but not defined herein shall have the meanings given
to them in the Indenture.

 

[●] (the “Transferor”)
owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $[●]
in such Note[s] or interests (the “Transfer”), to [●] (the “Transferee”), as further
specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that:

 

[CHECK ALL THAT APPLY]

 

1.[_] CHECK IF
TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE RELEVANT 144A GLOBAL NOTE OR A DEFINITIVE NOTE PURSUANT TO RULE 144A.
The Transfer is being effected pursuant to and in accordance with Rule 144A under the United States Securities Act of 1933, as
amended (the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the beneficial
interest or Definitive Note is being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial
interest or Definitive Note for its own account, or for one or more accounts with respect to which such Person exercises sole investment
discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A
in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance with any applicable blue sky securities
laws of any state of the United States.

 

2.[_] CHECK IF
TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE REGULATION S GLOBAL NOTE OR A DEFINITIVE NOTE PURSUANT TO REGULATION
S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly,
the Transferor hereby further certifies that (i) the Transfer is not being made to a person in the United States and (x) at
the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on
its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed
in, on or through the facilities of a designated offshore securities market and neither such Transferor nor any Person acting on
its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts
have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act,
(iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if
the proposed transfer is being made prior to the expiration of the 40-day distribution compliance period (as defined in Regulation S),
the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an initial
purchaser of the Notes). Upon consummation of the proposed transfer

 

 

    	Exhibit B-1

    	 

    

in accordance with
the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on Transfer
enumerated in the Indenture and the Securities Act.

 

3.[_] CHECK AND
COMPLETE IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN AN IAI GLOBAL NOTE OR A DEFINITIVE NOTE AS A RESULT OF BEING
AN INSTITUTIONAL ACCREDITED INVESTOR. The Transfer is being effect in compliance with the transfer restrictions applicable to transfers
to institutional accredited investors. The Transferor understands that it must deliver or cause to be delivered to the Trustee
a duly completed Institutional Accredited Investor Certificate in the form of Annex B hereto.

 

4.[_] CHECK AND
COMPLETE IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN A DEFINITIVE NOTE PURSUANT TO ANY PROVISION OF THE SECURITIES
ACT OTHER THAN RULE 144A OR REGULATION S. The Transfer is being effected in compliance with the transfer restrictions applicable
to beneficial interests in Restricted Global Notes and Restricted Definitive Notes and pursuant to and in accordance with the Securities
Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further
certifies that (check one):

 

(a)[_] such Transfer
is being effected pursuant to and in accordance with Rule 144 under the Securities Act;

 

or

 

(b)[_] such Transfer
is being effected to the Issuer or a subsidiary thereof;

 

or

 

(c)[_] such Transfer
is being effected pursuant to an effective registration statement under the Securities Act, pursuant to the Registration Rights
Agreement or otherwise, and in compliance with the prospectus delivery requirements of the Securities Act.

 

5.[_] CHECK IF
TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN AN UNRESTRICTED GLOBAL NOTE OR OF AN UNRESTRICTED DEFINITIVE NOTE.

 

(a)[_] CHECK IF TRANSFER
IS PURSUANT TO RULE 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities
Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of
any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement
Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to
the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive
Notes and in the Indenture.

 

(b)[_] CHECK IF TRANSFER
IS PURSUANT TO REGULATION S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under
the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities
laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement
Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to
the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive
Notes and in the Indenture.

 

 

    	Exhibit B-2

    	 

    

(c)[_]CHECK
IF TRANSFER IS PURSUANT TO OTHER EXEMPTION. (i) The Transfer is being effected pursuant to and in compliance with an exemption
from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance
with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Note will not be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture.

 

This certificate and
the statements contained herein are made for your benefit and the benefit of the Issuer.

 

 

[Insert Name of Transferor]

 

	
	 	 
	By:	[●]
	Name:	[●]
	Title:	[●]

 

Dated:    [●]

 

 

 

 

 

    	Exhibit B-3

    	 

    

ANNEX A TO CERTIFICATE OF TRANSFER

 

1.            The Transferor owns and proposes
to transfer the following:

 

[CHECK ONE OF (a) OR (b)]

 

(a)          [_] a beneficial
interest in the:

 

(i)          [_] 144A Global
Note, or

 

(ii)         [_] Regulation S
Global Note, or

 

(iii)        [_] IAI Global
Note, or

 

(b)          [_] a Restricted
Definitive Note.

 

2.            After the Transfer the Transferee
will hold:

 

[CHECK ONE]

 

(a)          [_] a beneficial
interest in the:

 

(i)         
[_] 144A Global Note, or

 

(ii)         [_] Regulation S
Global Note, or

 

(iii)        [_] IAI Global
Note, or

 

(iv)        [_] Unrestricted
Global Note; or

 

(b)          [_] a Restricted
Definitive Note; or

 

(c)         
[_] an Unrestricted Definitive Note,

 

in accordance with
the terms of the Indenture.

 

 

 

 

 

 

    	 

    	 

    

ANNEX B TO THE CERTIFICATE OF TRANSFER

 

Institutional Accredited Investor Certificate

 

Wilmington Trust, National Association

1100 N. Market Street

Wilmington, Delaware 19890

Attention: SS&C Technologies Holdings Notes Administrator

 

		Re:	SS&C Technologies Holdings, Inc.

5.875% Senior Notes due 2023 (the “Notes”)

Issued under the Indenture (the “Indenture”) dated as of July 8, 2015 relating to the Notes

 

Ladies and Gentlemen:

 

This Certificate relates to:

 

[CHECK A OR B AS APPLICABLE.]

 

A.Our proposed purchase of $[●]
principal amount of Notes issued under the Indenture.

 

B.Our proposed exchange of $[●]
principal amount of Notes issued under the Indenture for an equal principal amount of Notes to be held by us.

 

We hereby confirm that:

 

1.We are an institutional
“accredited investor” (an “Institutional Accredited Investor”) within the meaning of Rule 501(a)(1),
(2), (3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”).

 

2.Any acquisition
of Notes by us will be for our own account or for the account of one or more other Institutional Accredited Investors as to which
we exercise sole investment discretion.

 

3.We have such
knowledge and experience in financial and business matters that we are capable of evaluating the merits and risks of an investment
in the Notes and we and any accounts for which we are acting are able to bear the economic risks of and an entire loss of our or
their investment in the Notes.

 

4.We are not acquiring
the Notes with a view to any distribution thereof in a transaction that would violate the Securities Act or the securities laws
of any State of the United States or any other applicable jurisdiction; provided that the disposition of our property and
the property of any accounts for which we are acting as fiduciary will remain at all times within our and their control.

 

5.We acknowledge
that the Notes have not been registered under the Securities Act and that the Notes may not be offered or sold within the United
States or to or for the benefit of U.S. persons except as set forth below.

 

6.The principal
amount of Notes to which this Certificate relates is at least equal to $100,000.

 

We agree for the benefit
of the Issuer, on our own behalf and on behalf of each account for which we are acting, that such Notes may be offered, sold, pledged
or otherwise transferred only in accordance with the Securities Act and any applicable securities laws of any State of the United
States and only (a) to the Issuer, (b) pursuant to a registration statement which has become effective under the Securities
Act, (c) to a qualified institutional buyer in compliance with Rule 144A under the Securities Act, (d) in an

 

 

    	 

    	 

    

offshore transaction
in compliance with Rule 904 of Regulation S under the Securities Act, (e) in a principal amount of not less than $100,000,
to an Institutional Accredited Investor that, prior to such transfer, delivers to the Trustee a duly completed and signed certificate
(the form of which may be obtained from the Trustee) relating to the restrictions on transfer of the Notes or (f) pursuant
to an exemption from registration provided by Rule 144 under the Securities Act or any other available exemption from the registration
requirements of the Securities Act.

 

Prior to the registration
of any transfer in accordance with (c) or (d) above, we acknowledge that a duly completed and signed certificate (the
form of which may be obtained from the Trustee) must be delivered to the Trustee. Prior to the registration of any transfer in
accordance with (e) or (f) above, we acknowledge that the Issuer reserves the right to require the delivery of such legal
opinions, certifications or other evidence as may reasonably be required in order to determine that the proposed transfer is being
made in compliance with the Securities Act and applicable state securities laws. We acknowledge that no representation is made
as to the availability of any Rule 144 exemption from the registration requirements of the Securities Act.

 

We understand that
the Trustee will not be required to accept for registration of transfer any Notes acquired by us, except upon presentation of evidence
satisfactory to the Issuer and the Trustee that the foregoing restrictions on transfer have been complied with. We further understand
that the Notes acquired by us will be in the form of definitive physical certificates and that such certificates will bear a legend
reflecting the substance of the preceding paragraph. We further agree to provide to any person acquiring any of the Notes from
us a notice advising such person that resales of the Notes are restricted as stated herein and that certificates representing the
Notes will bear a legend to that effect.

 

We agree to notify
you promptly in writing if any of our acknowledgments, representations or agreements herein ceases to be accurate and complete.

 

We represent to you
that we have full power to make the foregoing acknowledgments, representations and agreements on our own behalf and on behalf of
any account for which we are acting.

 

You and the Issuer
are entitled to rely upon this Certificate and are irrevocably authorized to produce this Certificate or a copy hereof to any interested
party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby.

 

Very truly yours,

 

 

[NAME OF PURCHASER]

 

	
	 	 
	By:	[●]
	Name:	[●]
	Title:	[●]
	Address:	[●]

 

Date:        [●]

 

 

 

    	 

    	 

    

Exhibit C

Form of Certificate of Exchange

 

SS&C Technologies Holdings, Inc.

80 Lamberton Road

Windsor, Connecticut 06095

Attention: Chief Executive Officer, with
a copy to the General Counsel

 

Wilmington Trust, National Association

1100 N. Market Street

Wilmington, Delaware 19890

Attention: SS&C Technologies Holdings Notes Administrator

 

Re: 5.875% Senior Notes due 2023

 

Reference is hereby
made to the Indenture, dated as of July 8, 2015 (the “Indenture”), among SS&C Technologies Holdings, Inc.,
the guarantors party thereto and the Trustee. Capitalized terms used but not defined herein shall have the meanings given to them
in the Indenture.

 

[●] (the “Owner”)
owns and proposes to exchange the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $[●]
in such Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that:

 

1.EXCHANGE OF RESTRICTED
DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN A RESTRICTED GLOBAL NOTE FOR UNRESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS
IN AN UNRESTRICTED GLOBAL NOTE

 

(a)[_] CHECK IF EXCHANGE
IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE TO BENEFICIAL INTEREST IN AN UNRESTRICTED GLOBAL NOTE. In connection with
the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted
Global Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the
Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to the Global Notes and pursuant to and in accordance with the United States Securities Act of 1933, as amended (the
“Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement
Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted
Global Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States.

 

(b)[_] CHECK IF EXCHANGE
IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE TO UNRESTRICTED DEFINITIVE NOTE. In connection with the Exchange of the
Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the
Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected
in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the
Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required
in order to maintain compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance with
any applicable blue sky securities laws of any state of the United States.

 

(c)[_] CHECK IF EXCHANGE
IS FROM RESTRICTED DEFINITIVE NOTE TO BENEFICIAL INTEREST IN AN UNRESTRICTED GLOBAL NOTE. In connection with the Owner’s
Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the

 

 

    	Exhibit C-1

    	 

    

Owner hereby certifies
(i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange
has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement
Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is being
acquired in compliance with any applicable blue sky securities laws of any state of the United States.

 

(d)[_] CHECK IF EXCHANGE
IS FROM RESTRICTED DEFINITIVE NOTE TO UNRESTRICTED DEFINITIVE NOTE. In connection with the Owner’s Exchange of a Restricted
Definitive Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being
acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer
restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance
with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any applicable blue
sky securities laws of any state of the United States.

 

2.EXCHANGE OF RESTRICTED
DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES FOR RESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN
RESTRICTED GLOBAL NOTES

 

(a)[_] CHECK IF EXCHANGE
IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE TO RESTRICTED DEFINITIVE NOTE. In connection with the Exchange of the Owner’s
beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby
certifies that the Restricted Definitive Note is being acquired for the Owner’s own account without transfer. Upon consummation
of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to
be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note
and in the Indenture and the Securities Act.

 

(b)[_] CHECK IF EXCHANGE
IS FROM RESTRICTED DEFINITIVE NOTE TO BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE. In connection with the Exchange of the Owner’s
Restricted Definitive Note for a beneficial interest in the [CHECK ONE] [_] 144A Global Note, [_] Regulation S Global Note
or [_] IAI Global Note, with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired
for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer
restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in compliance
with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Exchange in accordance
with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act.

 

This certificate and the statements contained
herein are made for your benefit and the benefit of the Issuer and are dated.

 

 

    	Exhibit C-2

    	 

    

[Insert Name of Owner]

 

 

	
	 	 
	By:	[●]
	Name:	[●]
	Title:	[●]

 

 

Dated:    [●]

 

 

 

 

 

 

 

 

 

 

 

    	Exhibit C-3

    	 

    

ANNEX A TO CERTIFICATE OF EXCHANGE

 

1.            The Owner owns and proposes to exchange
the following:

 

[CHECK ONE OF (a) OR (b)]

 

(a)         
[_] a beneficial interest in the:

 

(i)          [_] 144A Global
Note, or

 

(ii)         [_] Regulation S
Global Note, or

 

(iii)        [_] IAI Global
Note, or

 

(b)         [_] a Restricted
Definitive Note.

 

2.           After the Exchange the Owner will
hold:

 

[CHECK ONE]

 

(a)         
[_] a beneficial interest in the:

 

(i)          [_] 144A Global
Note, or

 

(ii)         [_] Regulation S
Global Note, or

 

(iii)        [_] IAI Global
Note, or

 

(iv)       [_] Unrestricted
Global Note; or

 

(b)          [_] a Restricted
Definitive Note; or

 

(c)          [_] an Unrestricted
Definitive Note,

 

in accordance with
the terms of the Indenture.

 

 

 

 

    	 

    	 

    

Exhibit D

[Form of Supplemental Indenture

to be Delivered By Subsequent Guarantors]

 

Supplemental Indenture
(this “Supplemental Indenture”), dated as of [____________], 20[___], among SS&C Technologies Holdings,
Inc., a Delaware corporation (the “Issuer”), [______] ([each, a] / [the] “Guaranteeing Subsidiary”)
and Wilmington Trust, National Association, as trustee under the Indenture referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Issuer
has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of July 8, 2015,
providing for the issuance of the Issuer’s 5.875% Senior Notes due 2023 (the “Notes”);

 

WHEREAS, the Indenture
provides that under certain circumstances the Guaranteeing Subsidiar[y] / [ies] shall execute and deliver to the Trustee a supplemental
indenture pursuant to which the Guaranteeing Subsidiar[y] / [ies] shall unconditionally guarantee all of the Issuer’s Obligations
under the Notes and the Indenture on the terms and conditions set forth herein and under the Indenture (the “Guarantee”);
and

 

WHEREAS, pursuant to
Section 9.01 of the Indenture, the Issuer and the Trustee are authorized to execute and deliver this Supplemental Indenture
without the consent of the Holders of the Notes.

 

NOW THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties mutually
covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

(1)Capitalized
Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 

(2)Agreement
to Guarantee. [Each of the] / [The] Guaranteeing Subsidiar[y] / [ies] hereby (a) jointly and severally agrees, along [with
all the other Guaranteeing Subsidiaries and] with all existing Guarantors, to provide an unconditional Guarantee of the Notes on
the terms set forth in the Indenture including but not limited to Article X thereof and (b) becomes a party to the
Indenture as a Guarantor and, as such, will have the rights and be subject to all of the obligations and agreements of a Guarantor
under the Indenture.

 

(3)No Recourse
Against Others. No director, officer, employee, incorporator or stockholder of [each of the] / [the] Guaranteeing Subsidiar[y]
/ [ies] shall have any liability for any obligations of the Issuer or the Guarantors (including the Guaranteeing Subsidiar[y] /
[ies]) under the Notes, any Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of,
or by reason of, such obligations or their creation. Each Holder by accepting Notes waives and releases all such liability. The
waiver and release are part of the consideration for issuance of the Notes.

 

(4)GOVERNING
LAW. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

(5)Counterparts.
The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them
together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile
or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and
may be used in lieu of the original Supplemental Indenture and signature pages for all purposes.

 

 

    	

    	 

    

(6)Effect of
Headings. The Section headings herein are for convenience only and shall not affect the construction hereof.

 

(7)The Trustee.
The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental
Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary.

 

(8)Notices.
All notices or other communications to the Guarantors shall be given as provided in Section 12.01 of the Indenture.

 

(9)Ratification
of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended and supplemented hereby, the Indenture
is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect.
This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter
authenticated and delivered shall be bound hereby.

 

[Remainder of Page Intentionally Blank]

 

 

    	

    	 

    

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

 

 

	

SS&C TECHNOLOGIES HOLDINGS, INC.

	 
	 
	By:	
	 	Name:	[●]
	 	Title:	[●]

 

 

[●]

as Guarantor

 

 

	By:	
	 	Name:	[●]
	 	Title:	[●]

 

  

	

WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Trustee

	 
	 
	By:	
	 	Name:	[●]
	 	Title:	[●]

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