Document:

exv4w1

EXHIBIT 4.1

 

MPT OPERATING PARTNERSHIP, L.P.

and

MPT FINANCE CORPORATION,

as Issuers,

MEDICAL PROPERTIES TRUST, INC.,

as Parent and a Guarantor,

the other GUARANTORS named herein,

as Guarantors,

and

WILMINGTON TRUST COMPANY,

as Trustee

INDENTURE

Dated as of April 26, 2011

6.875% Senior Notes due 2021

 

 

 

CROSS-REFERENCE TABLE

	 	 	 	 	 	 	 
	Trust Indenture Act Section	 	 	Indenture Section
	310

	 	(a)(1)
	 	 	7.10	 
	 

	 	(a)(2)
	 	 	7.10	 
	 

	 	(a)(3)
	 	 	N.A.	 
	 

	 	(a)(4)
	 	 	N.A.	 
	 

	 	(a)(5)
	 	 	7.08; 7.10	 
	 

	 	(b)
	 	 	7.08; 7.10; 11.02	 
	 

	 	(c)
	 	 	N.A.	 
	311

	 	(a)
	 	 	7.11	 
	 

	 	(b)
	 	 	7.11	 
	 

	 	(c)
	 	 	N.A.	 
	312

	 	(a)
	 	 	2.05	 
	 

	 	(b)
	 	 	11.03	 
	 

	 	(c)
	 	 	11.03	 
	313

	 	(a)
	 	 	7.06	 
	 

	 	(b)(1)
	 	 	7.06	 
	 

	 	(b)(2)
	 	 	7.06	 
	 

	 	(c)
	 	 	7.06; 11.02	 
	 

	 	(d)
	 	 	7.06	 
	314

	 	(a)
	 	 	4.05; 4.15; 11.02	 
	 

	 	(b)
	 	 	N.A.	 
	 

	 	(c)(1)
	 	 	7.02, 11.04, 11.05	 
	 

	 	(c)(2)
	 	 	7.02; 11.04, 11.05	 
	 

	 	(c)(3)
	 	 	N.A.	 
	 

	 	(d)
	 	 	N.A.	 
	 

	 	(e)
	 	 	11.05	 
	 

	 	(f)
	 	 	N.A.	 
	315

	 	(a)
	 	 	7.01(b);7.02(a)	 
	 

	 	(b)
	 	 	7.05; 11.02	 
	 

	 	(c)
	 	 	7.01	 
	 

	 	(d)
	 	 	6.05; 7.01(c)	
	 

	 	(e)
	 	 	6.11	 
	316

	 	(a)(last sentence)
	 	 	2.09	 
	 

	 	(a)(1)(A)
	 	 	6.05	 
	 

	 	(a)(1)(B)
	 	 	6.04	 
	 

	 	(a)(2)
	 	 	9.02	 
	 

	 	(b)
	 	 	6.07	 
	 

	 	(c)
	 	 	9.04	 
	317

	 	(a)(1)
	 	 	6.08	 
	 

	 	(a)(2)
	 	 	6.09	 
	 

	 	(b)
	 	 	2.04	 
	318

	 	(a)
	 	 	11.01	 
	 

	 	(c)
	 	 	11.01	 

 

			
	N.A. means Not Applicable

Note: This Cross-Reference Table shall not, for any purpose, be deemed to be a part of this
Indenture.

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE ONE	 	 	 	 
	 
	Definitions and Incorporation by Reference	 	 	 	 
	 
	SECTION 1.01. Definitions
	 	 	1	 
	SECTION 1.02. Other Definitions
	 	 	23	 
	SECTION 1.03. Incorporation by Reference of Trust Indenture Act
	 	 	24	 
	SECTION 1.04. Rules of Construction
	 	 	24	 
	 
	ARTICLE TWO	 	 	 	 
	 
	The Notes	 	 	 	 
	 
	SECTION 2.01. Form and Dating
	 	 	25	 
	SECTION 2.02. Execution, Authentication and Denomination; Additional Notes; Exchange Securities
	 	 	26	 
	SECTION 2.03. Registrar and Paying Agent
	 	 	27	 
	SECTION 2.04. Paying Agent To Hold Assets in Trust
	 	 	27	 
	SECTION 2.05. Holder Lists
	 	 	28	 
	SECTION 2.06. Transfer and Exchange
	 	 	28	 
	SECTION 2.07. Replacement Notes
	 	 	28	 
	SECTION 2.08. Outstanding Notes
	 	 	28	 
	SECTION 2.09. Treasury Notes
	 	 	29	 
	SECTION 2.10. Temporary Notes
	 	 	29	 
	SECTION 2.11. Cancellation
	 	 	29	 
	SECTION 2.12. Defaulted Interest
	 	 	29	 
	SECTION 2.13. CUSIP and ISIN Numbers
	 	 	30	 
	SECTION 2.14. [Reserved]
	 	 	30	 
	SECTION 2.15. Book-Entry Provisions for Global Notes
	 	 	30	 
	SECTION 2.16. Special Transfer and Exchange Provisions
	 	 	31	 
	 
	ARTICLE THREE	 	 	 	 
	 
	Redemption	 	 	 	 
	 
	SECTION 3.01. Notices to Trustee
	 	 	33	 
	SECTION 3.02. Selection of Notes To Be Redeemed
	 	 	33	 
	SECTION 3.03. Notice of Redemption
	 	 	34	 
	SECTION 3.04. Effect of Notice of Redemption
	 	 	35	 
	SECTION 3.05. Deposit of Redemption Price
	 	 	35	 
	SECTION 3.06. Notes Redeemed in Part
	 	 	35	 
	SECTION 3.07. Mandatory Redemption
	 	 	35	 

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	 	 	Page	 
	ARTICLE FOUR	 	 	 	 
	 
	Covenants	 	 	 	 
	 
	SECTION 4.01. Payment of Notes
	 	 	35	 
	SECTION 4.02. Maintenance of Office or Agency
	 	 	36	 
	SECTION 4.03. Corporate Existence
	 	 	36	 
	SECTION 4.04. [Reserved]
	 	 	36	 
	SECTION 4.05. Compliance Certificate; Notice of Default
	 	 	36	 
	SECTION 4.06. Waiver of Stay, Extension or Usury Laws
	 	 	37	 
	SECTION 4.07. Change of Control
	 	 	37	 
	SECTION 4.08. Limitation on Indebtedness
	 	 	38	 
	SECTION 4.09. Limitation on Restricted Payments
	 	 	41	 
	SECTION 4.10. Maintenance of Total Unencumbered Assets
	 	 	45	 
	SECTION 4.11. Limitation on Asset Sales
	 	 	45	 
	SECTION 4.12. Limitation on Transactions with Affiliates
	 	 	48	 
	SECTION 4.13. Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries
	 	 	49	 
	SECTION 4.14. Future Guarantees by Restricted Subsidiaries
	 	 	51	 
	SECTION 4.15. Reports to Holders
	 	 	52	 
	SECTION 4.16. Suspension of Covenants
	 	 	53	 
	SECTION 4.17. Limitation on Activities of Finco
	 	 	54	 
	 
	ARTICLE FIVE	 	 	 	 
	 
	Successor Corporation	 	 	 	 
	 
	SECTION 5.01. Consolidation Merger and Sale of Assets
	 	 	54	 
	 
	ARTICLE SIX	 	 	 	 
	 
	Default and Remedies	 	 	 	 
	 
	SECTION 6.01. Events of Default
	 	 	56	 
	SECTION 6.02. Acceleration
	 	 	57	 
	SECTION 6.03. Other Remedies
	 	 	58	 
	SECTION 6.04. Waiver of Past Defaults
	 	 	58	 
	SECTION 6.05. Control by Majority
	 	 	58	 
	SECTION 6.06. Limitation on Suits
	 	 	58	 
	SECTION 6.07. Rights of Holders To Receive Payment
	 	 	59	 
	SECTION 6.08. Collection Suit by Trustee
	 	 	59	 
	SECTION 6.09. Trustee May File Proofs of Claim
	 	 	59	 
	SECTION 6.10. Priorities
	 	 	59	 
	SECTION 6.11. Undertaking for Costs
	 	 	60	 
	SECTION 6.12. Restoration of Rights and Remedies
	 	 	60	 

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	 	 	Page	 
	ARTICLE SEVEN	 	 	 	 
	 
	Trustee	 	 	 	 
	 
	SECTION 7.01. Duties of Trustee
	 	 	60	 
	SECTION 7.02. Rights of Trustee
	 	 	61	 
	SECTION 7.03. Individual Rights of Trustee
	 	 	62	 
	SECTION 7.04. Trustee’s Disclaimer
	 	 	62	 
	SECTION 7.05. Notice of Default
	 	 	62	 
	SECTION 7.06. Reports by Trustee to Holders
	 	 	63	 
	SECTION 7.07. Compensation and Indemnity
	 	 	63	 
	SECTION 7.08. Replacement of Trustee
	 	 	64	 
	SECTION 7.09. Successor Trustee by Merger, Etc.
	 	 	64	 
	SECTION 7.10. Eligibility, Disqualification
	 	 	65	 
	SECTION 7.11. Preferential Collection of Claims Against the Issuers
	 	 	65	 
	 
	ARTICLE EIGHT	 	 	 	 
	 
	Discharge of Indenture, Defeasance	 	 	 	 
	 
	SECTION 8.01. Termination of the Issuers’ Obligations
	 	 	65	 
	SECTION 8.02. Legal Defeasance and Covenant Defeasance
	 	 	66	 
	SECTION 8.03. Conditions to Legal Defeasance or Covenant Defeasance
	 	 	67	 
	SECTION 8.04. Application of Trust Money
	 	 	68	 
	SECTION 8.05. Repayment to the Issuers
	 	 	68	 
	SECTION 8.06. Reinstatement
	 	 	68	 
	 
	ARTICLE NINE	 	 	 	 
	 
	Amendments, Supplements and Waivers	 	 	 	 
	 
	SECTION 9.01. Without Consent of Holders
	 	 	69	 
	SECTION 9.02. With Consent of Holders
	 	 	70	 
	SECTION 9.03. Compliance with the Trust Indenture Act
	 	 	71	 
	SECTION 9.04. Revocation and Effect of Consents
	 	 	71	 
	SECTION 9.05. Notation on or Exchange of Notes
	 	 	71	 
	SECTION 9.06. Trustee To Sign Amendments, Etc.
	 	 	72	 
	 
	ARTICLE TEN	 	 	 	 
	 
	Guarantee	 	 	 	 
	 
	SECTION 10.01. Guarantee
	 	 	72	 
	SECTION 10.02. Limitation on Guarantor Liability
	 	 	73	 
	SECTION 10.03. Execution and Delivery of Guarantee
	 	 	73	 
	SECTION 10.04. Release of a Guarantor
	 	 	73	 

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	 	 	Page	 
	ARTICLE ELEVEN	 	 	 	 
	 
	Miscellaneous	 	 	 	 
	 
	SECTION 11.01. Trust Indenture Act Controls
	 	 	74	 
	SECTION 11.02. Notices
	 	 	74	 
	SECTION 11.03. Communications by Holders with Other Holders
	 	 	76	 
	SECTION 11.04. Certificate and Opinion as to Conditions Precedent
	 	 	76	 
	SECTION 11.05. Statements Required in Certificate or Opinion
	 	 	76	 
	SECTION 11.06. Rules by Paying Agent or Registrar
	 	 	76	 
	SECTION 11.07. Legal Holidays
	 	 	76	 
	SECTION 11.08. Governing Law; Waiver of Jury Trial
	 	 	76	 
	SECTION 11.09. No Adverse Interpretation of Other Agreements
	 	 	77	 
	SECTION 11.10. No Recourse Against Others
	 	 	77	 
	SECTION 11.11. Successors
	 	 	77	 
	SECTION 11.12. Duplicate Originals
	 	 	77	 
	SECTION 11.13. Severability
	 	 	77	 
	SECTION 11.14. U.S.A. Patriot Act
	 	 	77	 
	SECTION 11.15. Force Majeure
	 	 	77	 

SIGNATURES

	 	 	 	 	 	 	 

	Exhibit A     —
	 	Form of Note	 	 	A-1	 
	Exhibit B     —
	 	Form of Legends	 	 	B-1	 
	Exhibit C     —
	 	Form of Certificate To Be Delivered
in Connection with Transfers Pursuant to Regulation S	 	 	C-1	 
	Exhibit D     —
	 	Form of Notation of Guarantee	 	 	D-1	 

Note: This Table of Contents shall not, for any purpose, be deemed to be part of this Indenture.

-iv-

 

     INDENTURE dated as of April 26, 2011, among MPT Operating Partnership, L.P., a Delaware
limited partnership (“Opco”) MPT Finance Corporation, a Delaware
corporation(“Finco” and, together with Opco, the “Issuers”, each, an
“Issuer”), Medical Properties Trust, Inc., a Maryland corporation (the “Parent”),
as Guarantor, each of the other Guarantors named herein, as Guarantors, and Wilmington Trust
Company, existing under the laws of the United States of America, as Trustee (the
“Trustee”).

     The Issuers have duly authorized the creation of an issue of 6.875% Senior Notes due 2021 and,
to provide therefor, the Issuers, the Parent and the other Guarantors have duly authorized the
execution and delivery of this Indenture. All things necessary to make the Notes, when duly issued
and executed by the Issuers and authenticated and delivered hereunder, the valid and binding
obligations of the Issuers and to make this Indenture a valid and binding agreement of the Issuers
and the Guarantors have been done.

THIS INDENTURE WITNESSETH

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

ARTICLE ONE

Definitions and Incorporation by Reference

     SECTION 1.01. Definitions. Set forth below are certain defined terms used in this Indenture.

     “Acquired Indebtedness” means Indebtedness of a Person existing at the time such
Person becomes a Restricted Subsidiary or that is assumed in connection with an Asset Acquisition
from such Person by a Restricted Subsidiary; provided, however, that Indebtedness of such Person
that is redeemed, defeased, retired or otherwise repaid at the time of or immediately upon
consummation of the transactions by which such Person becomes a Restricted Subsidiary or such Asset
Acquisition shall not be Acquired Indebtedness.

     “Additional Interest” means any additional interest, if any, payable on the Notes
pursuant to the terms of the Registration Rights Agreement.

     “Adjusted Total Assets” means, for any Person, the sum of:

     (1) Total Assets for such Person as of the end of the fiscal quarter preceding the
Transaction Date; and

     (2) any increase in Total Assets following the end of such quarter determined on a pro
forma basis, including any pro forma increase in Total Assets resulting from the application
of the proceeds of any additional Indebtedness.

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

     “Agent” means any Registrar or Paying Agent.

 

 

     “Applicable Premium” means with respect to a Note at any redemption date, the greater
of (1) 1.00% of the principal amount of such Note and (2) the excess of (a) the present value at
such redemption date of (i) the redemption price of the Note at May 1, 2016 (such redemption price
being set forth in the table appearing in Section 5 of the Notes) plus (ii) all required interest
payments due on the Note through May 1, 2016 (excluding interest paid prior to the redemption date
and accrued but unpaid interest to the redemption date), computed using a discount rate equal to
the Treasury Rate as of such redemption date plus 50 basis points, over (b) the principal amount of
the Note on such redemption date.

     “Asset Acquisition” means:

     (1) an investment by an Issuer or any of its Restricted Subsidiaries in any other
Person pursuant to which such Person shall become a Restricted Subsidiary or shall be
merged, amalgamated or consolidated with and into an Issuer or any of its Restricted
Subsidiaries; provided, however, that such Person’s primary business is related, ancillary,
incidental or complementary to the businesses of the Issuers or any of their Restricted
Subsidiaries on the date of such investment; or

     (2) an acquisition by an Issuer or any of its Restricted Subsidiaries from any other
Person of assets or one or more properties of such Person; provided, however, that the
assets and properties acquired are related, ancillary, incidental or complementary to the
businesses of the Issuers or any of their Restricted Subsidiaries on the date of such
acquisition.

     “Asset Disposition” means the sale or other disposition by an Issuer or any of the
Restricted Subsidiaries, other than to an Issuer or another Restricted Subsidiary, of:

     (1) all or substantially all of the Capital Stock of any Restricted Subsidiary, whether
in a single transaction or a series of transactions; or

     (2) all or substantially all of the assets that constitute a division or line of
business, or one or more properties, of an Issuer or any of the Restricted Subsidiaries,
whether in a single transaction or a series of transactions.

     “Asset Sale” means any sale, transfer or other disposition, including by way of
merger, consolidation or Sale and Leaseback Transaction, in one transaction or a series of related
transactions by an Issuer or any of the Restricted Subsidiaries to any Person other than an Issuer
or any of the Restricted Subsidiaries of:

     (1) all or any of the Capital Stock of any Restricted Subsidiary;

     (2) all or substantially all of the assets that constitute a division or line of
business of an Issuer or any of its Restricted Subsidiaries; or

     (3) any property and assets of an Issuer or any of its Restricted Subsidiaries outside
the ordinary course of business of such Issuer or such Restricted Subsidiary and, in each
case, that is not governed by the provisions of Section 5.01;

provided, however, that “Asset Sale” shall not include:

     (1) the lease or sublease of any Real Estate Asset;

-2-

 

     (2) sales, leases, assignments, licenses, sublicenses, subleases or other dispositions
of inventory, receivables and other current assets;

     (3) the sale, conveyance, transfer, lease, disposition or other transfer of all or
substantially all of the assets of the Issuers as permitted under Section 5.01;

     (4) the license or sublicense of intellectual property or other general intangibles;

     (5) the issuance of Capital Stock by a Restricted Subsidiary in which the percentage
interest (direct and indirect) in the Capital Stock of such Restricted Subsidiary owned by
the Issuers after giving effect to such issuance, is at least equal to the percentage
interest prior to such issuance;

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

     (7) any Restricted Payment permitted by Section 4.09 or that constitutes a Permitted
Investment;

     (8) sales, transfers or other dispositions of assets or the issuance of Capital Stock
of a Restricted Subsidiary with a fair market value not in excess of $10,000,000 in any
transaction or series of related transactions;

     (9) sales or other dispositions of assets for consideration at least equal to the fair
market value of the assets sold or disposed of, to the extent that the consideration
received would satisfy Section 4.11(c)(2);

     (10) sales or other dispositions of cash or Temporary Cash Investments;

     (11) the creation, granting, perfection or realization of any Lien permitted under this
Indenture;

     (12) the lease, assignment or sublease of property in the ordinary course of business
so long as the same does not materially interfere with the business of the Issuers and its
Restricted Subsidiaries, taken as a whole;

     (13) sales, exchanges, transfers or other dispositions of damaged, worn-out or obsolete
or otherwise unsuitable or unnecessary equipment or assets that, in the Parent’s reasonable
judgment, are no longer used or useful in the business of the Issuers or their Restricted
Subsidiaries and any sale or disposition of property in connection with scheduled
turnarounds, maintenance and equipment and facility updates;

     (14) to the extent allowable under Section 1031 of the Code, any exchange of like
property (excluding any boot thereon) for use in a Permitted Business between an Issuer or
any Restricted Subsidiary and another Person;

     (15) the voluntary unwinding of any hedging agreements or other derivative instruments
(including any Interest Rate Agreements and Currency Agreements) other than those entered
into for speculative purposes; and

-3-

 

     (16) solely for purposes of clauses (1) and (2) of Section 4.12(b), any foreclosures,
expropriations, condemnations or similar actions with respect to assets.

     “Attributable Debt” in respect of a Sale and Leaseback Transaction means, at the time
of determination, the present value of the total obligations of the lessee for net rental payments
during the remaining term of the lease included in such Sale and Leaseback Transaction. For
purposes hereof such present value shall be calculated using a discount rate equal to the rate of
interest implicit in such Sale and Leaseback Transaction, determined by lessee in good faith on a
basis consistent with comparable determinations of Capitalized Lease Obligations under GAAP;
provided, however, that if such sale and leaseback transaction results in a Capitalized Lease
Obligation, the amount of Indebtedness represented thereby will be determined in accordance with
the definition of “Capitalized Lease Obligations.”

     “Average Life” means at any date of determination with respect to any debt security,
the quotient obtained by dividing:

     (1) the sum of the products of:

     (x) the number of years from such date of determination to the dates of each
successive scheduled principal payment of such debt security, and

     (y) the amount of such principal payment; by

     (2) the sum of all such principal payments.

     “Bankruptcy Law” means Title 11 of the United States Code, as amended, or any
insolvency or other similar Federal or state law for the relief of debtors.

     “Board of Directors” means, as to any Person, the board of directors (or similar
governing body) of such Person or any duly authorized committee thereof.

     “Board Resolution” means, with respect to any Person, a copy of a resolution certified
by the Secretary or an Assistant Secretary of such Person to have been duly adopted by the Board of
Directors of such Person and to be in full force and effect on the date of such certification, and
delivered to the Trustee.

     “Business Day” means a day other than a Saturday, Sunday or any other day on which
banking institutions in New York City or the location of the Corporate Trust Office of the Trustee
are authorized or required by law, regulation or executive order to close.

     “Capital Stock” means, with respect to any Person, any and all shares, interests,
participations or other equivalents (however designated, whether voting or non-voting), including
partnership or limited liability company interests, whether general or limited, in the equity of
such Person, whether outstanding on the Issue Date or issued thereafter, including all Common Stock
and Preferred Stock.

     “Capitalized Lease” means, as applied to any Person, any lease of any property,
whether real, personal or mixed, of which the discounted present value of the rental obligations of
such Person as lessee, in conformity with GAAP, is required to be capitalized on the balance sheet
of such Person.

     “Capitalized Lease Obligations” means, at the time any determination is to be made,
the amount of the liability in respect of a Capitalized Lease that would at that time be required
to be capitalized on a balance sheet in accordance with GAAP.

-4-

 

     “Change of Control” means the occurrence of one or more of the following events:

     (1) any sale, exchange or other transfer (in one transaction or a series of related
transactions) of all or substantially all of the assets of Opco and its Subsidiaries taken
as a whole to any “person” or “group” (as such terms are defined in Sections 13(d) and
l4(d)(2) of the Exchange Act), together with any Affiliates thereof (whether or not
otherwise in compliance with the provisions of this Indenture); provided, however, that for
the avoidance of doubt, the lease of all or substantially all of the assets of Opco and its
Subsidiaries taken as a whole shall not constitute a Change of Control;

     (2) a “person” or “group” (as such terms are defined in Sections 13(d) and l4(d)(2) of
the Exchange Act), becomes the ultimate “beneficial owner” (as defined in Rule 13d-3 under
the Exchange Act) of more than 50% of the total voting power of the Voting Stock of Opco or
any of its direct or indirect parent companies on a fully diluted basis;

     (3) the approval by the holders of Capital Stock of an Issuer of any plan or proposal
for the liquidation or dissolution of an Issuer (whether or not otherwise in compliance with
the provisions of this Indenture); or

     (4) individuals who on the Issue Date constitute the Board of Directors of the Parent
(together with any new or replacement directors whose election by the Board of Directors of
the Parent or whose nomination by the Board of Directors of the Parent for election by the
Parent’s shareholders was approved by a vote of at least a majority of the members of the
Board of Directors of the Parent then still in office who either were members of the Board
of Directors of the Parent on the Issue Date or whose election or nomination for election
was so approved) cease for any reason to constitute a majority of the members of the Board
of Directors of the Parent then in office.

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

     “Common Stock” means, with respect to any Person, any and all shares, interests,
participations or other equivalents (however designated, whether voting or non-voting) that have no
preference on liquidation or with respect to distributions over any other class of Capital Stock,
including partnership interests, whether general or limited, of such Person’s equity, whether
outstanding on the Issue Date or issued thereafter, including all series and classes of common
stock.

     “Common Units” means the common units of Opco, as defined in Opco’s limited
partnership agreement.

     “Consolidated EBITDA” means, for any period, the aggregate net income (or loss)
(before giving effect to cash dividends on preferred units of Opco (or distributions to Parent to
pay dividends on preferred stock of Parent) or charges resulting from the redemption of preferred
units of Opco (or preferred stock of Parent) attributable to Opco and its Restricted Subsidiaries
for such period determined on a consolidated basis in conformity with GAAP

     I. excluding (without duplication):

     (1) the net income of any Person, other than an Issuer or a Restricted Subsidiary,
except to the extent of the amount of dividends or other distributions actually paid in cash
(or to the extent converted into cash) or Temporary Cash Investments to an Issuer or any of
its Restricted

-5-

 

Subsidiaries by such Person during such period and the net losses for any such Person
shall only be included to the extent funded with cash from an Issuer or a Restricted
Subsidiary;

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

     (3) all extraordinary gains and extraordinary losses together with any related
provision for taxes on such gains and losses;

     (4) any fees and expenses (including any transaction or retention bonus) incurred
during such period, or any amortization thereof for such period, in connection with any
acquisition, Investment, asset disposition, issuance or repayment of debt, issuance of
equity securities, refinancing transaction or amendment or other modification of any debt
instrument (in each case, including any such transaction consummated prior to the Issue Date
and any such transaction undertaken but not completed) and any charges or non-recurring
merger costs incurred during such period as a result of any such transaction;

     (5) any income (loss) for such period attributable to the early extinguishment of
Indebtedness, hedging agreements or other derivative instruments;

     (6) any after-tax gains or losses attributable to asset dispositions (including any
Asset Sales) or abandonments (including any disposal of abandoned or discontinued
operations) or the sale or other disposition of any Capital Stock of any Person other than
in the ordinary course of business as determined in good faith by the Issuers; and

     (7) all non-cash items increasing net income;

     II. increased by, to the extent such amount was deducted in calculating such net income
(without duplication):

     (a) Consolidated Interest Expense;

     (b) provision for taxes based on income or profits or capital gains, including federal,
state, provincial, franchise, excise and similar taxes and foreign withholding taxes;

     (c) depreciation and amortization (including without limitation amortization of
deferred financing fees or costs, amortization or impairment write-offs of goodwill and
other intangibles, long lived assets and Investments in debt and equity securities, but
excluding amortization of prepaid cash expenses that were paid in a prior period);

     (d) non-recurring charges (including any unusual or non-recurring operating expenses
directly attributable to the implementation of cost savings initiatives), severance,
relocation costs, integration and facilities’ opening costs, signing costs, retention or
completion bonuses, transition costs, rent expense on operating leases to the extent that a
liability for such rent has been established in purchase accounting or through a
restructuring provision (and accretion of the discount on any such liability), costs related
to closure/consolidation of facilities and curtailments or modifications to pension and
post-retirement employee benefit plans (including any settlement of pension liabilities)
excluding, in all cases under this clause (d), cash restructuring charges, accruals and
reserves; and

     (e) all Non-Cash Charges, and

-6-

 

     III. increased (by losses) or decreased (by gains) by (without duplication) any net noncash
gain or loss resulting in such period from hedging or other derivative instruments (including any
Interest Rate Agreements or Currency Agreements) and the application of Accounting Standards
Codification 815.

Notwithstanding the preceding, the income taxes of, and the depreciation and amortization and other
non-cash items of, a Subsidiary shall be added (or subtracted) to net income to compute
Consolidated EBITDA only to the extent (and in the same proportion) that net income of such
Subsidiary was included after giving effect to the impact of clause (1) above.

     “Consolidated Interest Expense” means, for any period, the aggregate amount of
interest expense, less the aggregate amount of interest income for such period, in respect of
Indebtedness of the Issuers and the Restricted Subsidiaries during such period, all as determined
on a consolidated basis in conformity with GAAP including (without duplication):

     (1) the interest portion of any deferred payment obligations;

     (2) all commissions, discounts and other fees and expenses owed with respect to letters
of credit and bankers’ acceptance financing;

     (3) the net cash costs associated with Interest Rate Agreements and Indebtedness that
is Guaranteed or secured by assets of an Issuer or any Restricted Subsidiary; and

     (4) all but the principal component of rentals in respect of Capitalized Lease
Obligations paid, accrued or scheduled to be paid or to be accrued by an Issuer and the
Restricted Subsidiaries;

excluding, to the extent included in interest expense above, (i) accretion of accrual of discounted
liabilities not constituting Indebtedness, (ii) any expense resulting from the discounting of any
Indebtedness in connection with the application of purchase accounting in connection with any
acquisition, (iii) amortization of deferred financing fees, debt issuance costs, commissions, fees
and expenses, (iv) any expensing of bridge, commitment or other financing fees and (v) non-cash
costs associated with Interest Rate Agreements and Currency Agreements or attributable to
mark-to-market valuation of derivative instruments pursuant to GAAP.

     “Corporate Trust Office” for administration of this Indenture means the corporate
trust office of the Trustee located at Rodney Square North, 1100 N. Market Street, Wilmington, DE
19890-0001, Attention: Corporate Trust Administration, or such other office, designated by the
Trustee by written notice to the Issuers, at which at any particular time its corporate trust
business shall be administered.

     “Credit Agreement” means the Credit Agreement to be dated on or about the Issue Date,
by and among Opco and the Restricted Subsidiaries now or hereafter party thereto as borrowers or
guarantors, the Parent as guarantor, the lenders party thereto in their capacities as lenders
thereunder and JPMorgan Chase Bank, N.A., as administrative agent, together with the related
documents thereto (including any guarantee agreements and security documents).

     “Credit Facility” means one or more credit or debt facilities (including any credit or
debt facilities provided under the Credit Agreement), financings, commercial paper facilities, note
purchase agreements or other debt instruments, indentures or agreements, providing for revolving
credit loans, term loans, swing line loans, notes, securities, letters of credit or other debt
obligations, in each case, as amended,

-7-

 

restated, modified, renewed, refunded, restructured, supplemented, replaced or refinanced in
whole or in part from time to time, including any amendment increasing the amount of Indebtedness
incurred or available to be borrowed thereunder, extending the maturity of any Indebtedness
incurred thereunder or contemplated thereby or deleting, adding or substituting one or more parties
thereto (whether or not such added or substituted parties are banks or other lenders or investors).

     “Currency Agreement” means any foreign exchange contract, currency swap agreement or
other similar agreement or arrangement.

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

     “Depository” means The Depository Trust Company, New York, New York, or a successor
thereto registered under the Exchange Act or other applicable statute or regulation.

     “Designated Non-Cash Consideration” means the fair market value of non-cash
consideration received by an 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 Issuers, less the amount of cash or Temporary Cash Investments received in connection with a
subsequent sale of or collection on such Designated Non-Cash Consideration.

     “Disqualified Stock” means any class or series of Capital Stock of any Person that by
its terms or otherwise is:

     (1) required to be redeemed on or prior to the date that is 91 days after the Stated
Maturity of the Notes;

     (2) redeemable at the option of the holder of such class or series of Capital Stock, at
any time on or prior to the date that is 91 days after the Stated Maturity of the Notes
(other than into shares of Capital Stock that is not Disqualified Stock); or

     (3) convertible into or exchangeable for Capital Stock referred to in clause (1) or (2)
above or Indebtedness having a scheduled maturity on or prior to the date that is 91 days
after the Stated Maturity of the Notes;

provided, however, that any Capital Stock that would not constitute Disqualified Stock but for
provisions thereof giving holders thereof the right to require such Person to repurchase or redeem
such Capital Stock upon the occurrence of an “asset sale” or “change of control” occurring prior to
the Stated Maturity of the Notes shall not constitute Disqualified Stock if the “asset sale” or
“change of control” provisions applicable to such Capital Stock are no more favorable to the
holders of such Capital Stock than the provisions contained in Sections 4.07 and 4.11 and such
Capital Stock specifically provides that such Person shall not repurchase or redeem any such stock
pursuant to such provisions unless such repurchase or redemption complies with Section 4.09.
Disqualified Stock shall not include (i) Capital Stock which is issued to any plan for the benefit
of employees of the Parent or its Subsidiaries or by any such plan to such employees solely because
it may be required to be repurchased by the Parent or its Subsidiaries in order to satisfy
applicable statutory or regulatory obligations and (ii) Capital Stock issued to any future, present
or former employee, director, officer or consultant of the Parent, an Issuer (or any of their
respective direct or indirect parents or Subsidiaries) which is redeemable or subject to repurchase
pursuant to any management equity subscription agreement, stock option agreement, stock ownership
plan, put agreement,

-8-

 

stockholder agreement or similar agreement that may be in effect from time to time. Disqualified
Stock shall not include Common Units.

     “Equity Offering” means a public or private offering of Capital Stock (other than
Disqualified Stock) of Opco or the Parent to the extent the net proceeds thereof are contributed to
Opco as Capital Stock (other than Disqualified Stock).

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor
statute or statutes thereto.

     “Exchange Offer” means the offer that may be made by the Issuer pursuant to the
Registration Rights Agreement to exchange Notes bearing the Private Placement Legend for the
Exchange Securities.

     “Exchange Securities” has the meaning set forth in the Registration Rights Agreement.

     “fair market value” means the price that would be paid in an arm’s-length transaction
between an informed and willing seller under no compulsion to sell and an informed and willing
buyer under no compulsion to buy. For purposes of determining compliance with Article Four of this
Indenture, any determination that the fair market value of assets other than cash or Temporary Cash
Investments is equal to or greater than $20,000,000 shall be as determined in good faith by the
Board of Directors of the Parent, whose determination shall be conclusive if evidenced by a Board
Resolution, and otherwise by the principal financial officer of the Parent acting in good faith,
each of whose determination shall be conclusive.

     “Four Quarter Period” means, for purposes of calculating the Interest Coverage Ratio
with respect to any Transaction Date, the then most recent four fiscal quarters prior to such
Transaction Date for which reports have been filed with the SEC or provided to the Trustee pursuant
to Section 4.15.

     “Funds From Operations” for any period means the consolidated net income attributable
to the Issuers and the Restricted Subsidiaries for such period determined in conformity with GAAP
after adjustments for unconsolidated partnerships and joint ventures, plus depreciation and
amortization of real property (including furniture and equipment) and other real estate assets and
excluding (to the extent such amount was deducted in calculating such consolidated net income):

     (1) gains or losses from (a) the restructuring or refinancing of Indebtedness or (b)
sales of properties;

     (2) non-cash asset impairment charges (including write-offs of former tenant
receivables);

     (3) non-cash, non-recurring charges (provided, in each case, that if any
non-cash charges represent an accrual or reserve for potential cash items in any future
period, the cash payment in respect thereof in such future period shall be subtracted from
Funds From Operations to such extent, and excluding amortization of a prepaid cash item that
was paid in a prior period);

     (4) write-offs or reserves of straight-line rent;

     (5) fees and expenses incurred in connection with any acquisition or debt refinancing;

     (6) executive severance in an amount not to exceed $10,000,000 in the aggregate;

-9-

 

     (7) amortization of debt costs; and

     (8) any non-cash expenses and costs of the Issuers and its Restricted Subsidiaries that
result from the issuance of stock-based awards, partnership interest-based awards and
similar incentive based compensation awards or arrangements.

     “GAAP” means generally accepted accounting principles in the United States of America
as in effect as of the Issue Date (without giving effect to SFAS No. 159 “The Fair Value Option for
Financial Assets and Financial Liabilities”), including those set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public
Accountants and statements and pronouncements of the Financial Accounting Standards Board or in
such other statements by such other entity as approved by a significant segment of the accounting
profession. Except as otherwise specifically provided in this Indenture, all ratios and
computations contained or referred to in this Indenture shall be computed in conformity with GAAP
applied on a consistent basis.

     “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,
without limitation, by way of a pledge of assets or through letters of credit or reimbursement
agreements in respect thereof, of all or any part of any Indebtedness or other obligations.

     “Guarantor” means the Parent and each Subsidiary Guarantor.

     “Holder” means any registered holder on the books of the Registrar, from time to time,
of the Notes.

     “Incur” means, with respect to any Indebtedness, to incur, create, issue, assume,
Guarantee or otherwise become liable for or with respect to, or become responsible for, the payment
of, contingently or otherwise, such Indebtedness, including an “Incurrence” of Acquired
Indebtedness; provided, however, that neither the accrual of interest, the payment of interest on
any Indebtedness in the form of additional Indebtedness with the same terms, nor the accretion of
original issue discount shall be considered an Incurrence of Indebtedness.

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

     (1) all indebtedness of such Person for borrowed money;

     (2) all obligations of such Person evidenced by bonds, debentures, notes or other
similar instruments;

     (3) the face amount of letters of credit or other similar instruments (excluding
obligations with respect to letters of credit (including trade letters of credit) securing
obligations (other than obligations described in (1) or (2) above or (5), (6) or (7) below)
entered into in the ordinary course of business of such Person to the extent such letters of
credit are not drawn upon or, if drawn upon, to the extent such drawing is reimbursed no
later than the fifth Business Day following receipt by such Person of a demand for
reimbursement);

     (4) all unconditional obligations of such Person to pay the deferred and unpaid
purchase price of property or services, which purchase price is due more than six months
after the date of placing such property in service or taking delivery and title thereto or
the completion of such services, except Trade Payables;

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     (5) all Capitalized Lease Obligations and Attributable Debt;

     (6) all Indebtedness of other Persons secured by a Lien on any asset of such Person,
whether or not such Indebtedness is assumed by such Person; provided, however, that the
amount of such Indebtedness shall be the lesser of (A) the fair market value of such asset
at that date of determination and (B) the amount of such Indebtedness;

     (7) all Indebtedness of other Persons Guaranteed by such Person to the extent such
Indebtedness is Guaranteed by such Person; and

     (8) to the extent not otherwise included in this definition or the definition of
Consolidated Interest Expense, obligations under Currency Agreements and Interest Rate
Agreements,

in each case if and to the extent that any of the foregoing (other than letters of credit) in
clauses (1) through (7) would appear as a liability on a balance sheet (excluding the footnotes) of
such Person in accordance with GAAP.

     The amount of Indebtedness of any Person at any date shall be the outstanding balance at such
date of all unconditional obligations of the type described above and, with respect to obligations
under any Guarantee, the maximum liability upon the occurrence of the contingency giving rise to
the obligation; provided, however, that:

     (1) the amount outstanding at any time of any Indebtedness issued with original issue
discount shall be deemed to be the face amount with respect to such Indebtedness less the
remaining unamortized portion of the original issue discount of such Indebtedness at the
date of determination in conformity with GAAP;

     (2) Indebtedness shall not include any liability for foreign, Federal, state, local or
other taxes;

     (3) Indebtedness shall not include any obligations in respect of indemnification,
adjustment of purchase price or similar obligations, or from Guarantees or letters of
credit, surety bonds or performance bonds, in each case securing any such obligations of the
Issuers or any of the Restricted Subsidiaries, in any case Incurred in connection with the
disposition of any business, assets or Restricted Subsidiary (other than Guarantees of
Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or
Restricted Subsidiary for the purpose of financing such acquisition) in a principal amount
not in excess of the gross proceeds including non-cash proceeds (the fair market value of
such non-cash proceeds being measured at the time received and without giving effect to any
subsequent changes in value) actually received by the Issuer and the Restricted Subsidiaries
on a consolidated basis in connection with such disposition; and

     (4) Indebtedness shall not include contingent obligations under performance bonds,
performance guarantees, surety bonds, appeal bonds or similar obligations incurred in the
ordinary course of business and consistent with past practices.

     “Indenture” means this Indenture, as amended or supplemented from time to time in
accordance with the terms hereof.

     “interest” means, unless the context otherwise requires, with respect to the Notes,
interest and Additional Interest, if any, on the Notes.

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     “Interest Coverage Ratio” means, on any Transaction Date, the ratio of:

     (x) the aggregate amount of Consolidated EBITDA for the then applicable Four Quarter
Period to

     (y) the aggregate Consolidated Interest Expense during such Four Quarter Period.

     In making the foregoing calculation (and without duplication),

     (1) pro forma effect shall be given to any Indebtedness Incurred or repaid during the
period (“Reference Period”) commencing on the first day of the Four Quarter Period
and ending on the Transaction Date (other than Indebtedness Incurred or repaid under a
revolving credit or similar arrangement), in each case as if such Indebtedness had been
Incurred or repaid on the first day of such Reference Period;

     (2) Consolidated Interest Expense attributable to interest on any Indebtedness (whether
existing or being Incurred) computed on a pro forma basis and bearing a floating interest
rate shall be computed as if the rate in effect on the Transaction Date (taking into account
any Interest Rate Agreement applicable to such Indebtedness if such Interest Rate Agreement
has a remaining term in excess of 12 months or, if shorter, at least equal to the remaining
term of such Indebtedness) had been the applicable rate for the entire period;

     (3) pro forma effect shall be given to Asset Dispositions, Asset Acquisitions and
Permitted Mortgage Investments (including giving pro forma effect to the application of
proceeds of any Asset Disposition and any Indebtedness Incurred or repaid in connection with
any such Asset Acquisitions or Asset Dispositions) that occur during such Reference Period
or subsequent to the end of the related Four Quarter Period as if they had occurred and such
proceeds had been applied on the first day of such Reference Period and after giving effect
to Pro Forma Cost Savings;

     (4) pro forma effect shall be given to asset dispositions and asset acquisitions
(including giving pro forma effect to (i) the application of proceeds of any asset
disposition and any Indebtedness Incurred or repaid in connection with any such asset
acquisitions or asset dispositions, (ii) expense and cost reductions calculated on a basis
consistent with Regulation S-X under the Exchange Act and (iii) Pro Forma Cost Savings) that
have been made by any Person that is or has become a Restricted Subsidiary or has been
merged with or into an Issuer or any of its Restricted Subsidiaries during such Reference
Period or subsequent to the end of the related Four Quarter Period and that would have
constituted asset dispositions or asset acquisitions during such Reference Period or
subsequent to the end of the related Four Quarter Period had such transactions occurred when
such Person was a Restricted Subsidiary as if such asset dispositions or asset acquisitions
were Asset Dispositions or Asset Acquisitions and had occurred on the first day of such
Reference Period;

     (5) the Consolidated Interest Expense attributable to discontinued operations, as
determined in accordance with GAAP, shall be excluded, but only to the extent that the
obligations giving rise to such Consolidated Interest Expense shall not be obligations of
the specified Person or any of its Restricted Subsidiaries following the Transaction Date;
and

     (6) consolidated interest expense attributable to interest on any Indebtedness (whether
existing or being incurred) computed on a pro forma basis and bearing a floating interest
rate shall be computed as if the rate in effect on the Transaction Date (taking into account
any interest

-12-

 

rate option, swap, cap or similar agreement applicable to such Indebtedness if
such agreement has a remaining term in excess of 12 months or, if shorter, at least equal to
the remaining term of such Indebtedness) had been the applicable rate for the entire period.
Interest on Indebtedness that may optionally be determined at an interest rate based on 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 not, then based
upon such operational rate chosen as the Issuers may designate. Interest on any
Indebtedness under a revolving credit facility computed on a pro forma basis shall be
computed based on the average daily balance of such Indebtedness during the applicable
period except as set forth in clause (1) of this definition. 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 Issuers to be the rate of interest
implicit in such Capitalized Lease Obligation in accordance with GAAP;

provided, however, that to the extent that clause (3) or (4) of this paragraph requires that pro
forma effect be given to an Asset Acquisition, Asset Disposition, Permitted Mortgage Investment,
asset acquisition or asset disposition, as the case may be, such pro forma calculation shall be
based upon the four full fiscal quarters immediately preceding the Transaction Date of the Person,
or division or line of business, or one or more properties, of the Person that is acquired or
disposed of to the extent that such financial information is available or otherwise a reasonable
estimate thereof is available.

     “Interest Payment Date” means the Stated Maturity of an installment of interest on the
Notes.

     “Interest Rate Agreement” means any interest rate protection agreement, interest rate
future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap
agreement, interest rate collar agreement, interest rate hedge agreement, option or future contract
or other similar agreement or arrangement with respect to interest rates.

     “Investment” in any Person means any direct or indirect advance, loan or other
extension of credit (including by way of Guarantee or similar arrangement, but excluding advances
to customers and distributors and trade credit made in the ordinary course of business that are, in
conformity with GAAP, recorded as accounts receivable on the consolidated balance sheet of an
Issuer and its Restricted Subsidiaries and commission, travel and similar advances to employees,
directors, officers, managers and consultants in each case made in the ordinary course of business)
or capital contribution to (by means of any transfer of cash or other property (tangible or
intangible) to others or any payment for property or services solely for the account or use of
others, or otherwise), or any purchase or acquisition of Capital Stock, bonds, notes, debentures or
other similar instruments issued by, such Person and shall include:

     (1) the designation of a Restricted Subsidiary as an Unrestricted Subsidiary; and

     (2) the fair market value of the Capital Stock (or any other Investment), held by an
Issuer or any of its Restricted Subsidiaries of (or in) any Person that has ceased to be a
Restricted Subsidiary;

provided, however, that the fair market value of the Investment remaining in any Person shall be
deemed not to exceed the aggregate amount of Investments previously made in such Person valued at
the time such Investments were made, less the net reduction of such Investments. For purposes of
the definition of “Unrestricted Subsidiary” and Section 4.09:

	     (i) “Investment” shall include the fair market value of the assets (net of liabilities
(other than liabilities to an Issuer or any of its Restricted Subsidiaries)) of any
Restricted Subsidiary at the time such Restricted Subsidiary is designated an Unrestricted
Subsidiary;

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     (ii) the fair market value of the assets (net of liabilities (other than liabilities to
an Issuer or any of its Restricted Subsidiaries)) of any Unrestricted Subsidiary at the time
that such Unrestricted Subsidiary is designated a Restricted Subsidiary shall be considered
a reduction in outstanding Investments; and

		 	     (iii) any property transferred to or from an Unrestricted Subsidiary shall be valued at
its fair market value at the time of such transfer.

     “Investment Grade Status” means, with respect to the Issuers, when the Notes have (1)
a rating of “Baa3” or higher from Moody’s and (2) a rating of “BBB-” or higher from S&P, in each
case published by the applicable agency.

     “Issue Date” means April 26, 2011.

     “Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of
any kind (including any conditional sale or other title retention agreement or lease in the nature
thereof or any agreement to give any security interest).

     “Moody’s” means Moody’s Investors Service, Inc. and its successors.

     “Net Cash Proceeds” means, with respect to any Asset Sale, the proceeds of such Asset
Sale in the form of cash or Temporary Cash Investments, including payments in respect of deferred
payment obligations (to the extent corresponding to the principal, but not interest, component
thereof) when received in the form of cash or Temporary Cash Investments (except to the extent such
obligations are financed or sold with recourse to an Issuer or any of its Restricted Subsidiaries)
and proceeds from the conversion or sale of other property received when converted to or sold for
cash or cash equivalents, net of brokerage and sales commissions and other fees and expenses
(including fees and expenses of counsel, accountants and investment bankers) related to such Asset
Sale.

     “Non-Cash Charges” means (a) all losses from Investments recorded using the equity
method, (b) any non-cash expenses and costs of the Issuers and its Restricted Subsidiaries that
result from the issuance of stock-based awards, partnership interest-based awards and similar
incentive based compensation awards or arrangements, (c) the non-cash impact of acquisition method
accounting, and (d) other non-cash charges (provided, in each case, that if any non-cash
charges represent an accrual or reserve for potential cash items in any future period, the cash
payment in respect thereof in such future period shall be subtracted from Funds From Operations to
such extent, and excluding amortization of a prepaid cash item that was paid in a prior period).

     “Non-US. Person” has the meaning assigned to such term in Regulation S.

     “Notes” means, collectively, the Issuers’ 6.875% Senior Notes due 2021 issued in
accordance with Section 2.02 (whether issued on the Issue Date, issued as Additional Notes, issued
as Exchange Securities, or otherwise issued after the Issue Date) treated as a single class of
securities under this Indenture.

     “Offering” means the sale of the Initial Notes as described in the Offering
Memorandum.

     “Offering Memorandum” means the Final Offering Memorandum dated April 19, 2011
pursuant to which the Notes issued on the Issue Date were offered to investors.

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     “Officer” means any of the following with respect to any Person: the Chairman of the
Board of Directors, the Chief Executive Officer, the Chief Financial Officer, Chief Accounting
Officer, Chief Operating Officer, the President, any Vice President (whether or not designated by a
number or numbers or word or words added before or after the title “Vice President”), the
Treasurer, any Assistant Treasurer, the Controller, the General Counsel or the Secretary or any
Assistant Secretary of such Person.

     “Officer’s Certificate” means a certificate signed by an Officer of the Parent, each
of the Issuers or a Subsidiary Guarantor, as applicable.

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

     “Pari Passu Indebtedness” means any Indebtedness of an Issuer or any Subsidiary
Guarantor that ranks pari passu in right of payment with the Notes or the Subsidiary Guarantee
thereof by such Subsidiary Guarantor, as applicable.

     “Permitted Business” means any business activity (including Permitted Mortgage
Investments) in which the Parent, the Issuers and Restricted Subsidiaries are engaged or propose to
be engaged in (as described in the Offering Memorandum) on the Issue Date, any business activity
related to properties customarily constituting assets of a healthcare REIT, or any business
reasonably related, ancillary, incidental or complementary thereto, or reasonable expansions or
extensions thereof.

     “Permitted Investment” means:

     (1) (a) an Investment in an Issuer or any of the Restricted Subsidiaries or (b) a
Person that will, upon the making of such Investment, become a Restricted Subsidiary or be
merged or consolidated with or into or transfer or convey all or substantially all its
assets to, an Issuer or any of its Restricted Subsidiaries 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;

     (2) investments in cash and Temporary Cash Investments;

     (3) Investments made by an Issuer or the Restricted Subsidiaries as a result of
consideration received in connection with an Asset Sale made in compliance with Section 4.11
or from any other disposition or transfer of assets not constituting an Asset Sale;

     (4) Investments represented by Guarantees that are otherwise permitted under this
Indenture;

     (5) payroll, travel and similar advances to cover matters that are expected at the time
of such advances ultimately to be treated as expenses in accordance with GAAP;

     (6) Investments received in satisfaction of judgments or in settlements of debt or
compromises of obligations incurred in the ordinary course of business;

     (7) any Investment acquired solely in exchange for Capital Stock (other than
Disqualified Stock) of the Parent or Opco, which the Parent or Opco did not receive in
exchange for
a cash payment, Indebtedness or Disqualified Stock, but excluding any new cash
Investments made thereafter;

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     (8) Investments in tenants in an aggregate amount not to exceed the greater of (x)
$150,000,000 and (y) 10% of Adjusted Total Assets at any one time outstanding;

     (9) obligations under Currency Agreements and Interest Rate Agreements otherwise
permitted under this Indenture;

     (10) Permitted Mortgage Investments;

     (11) any transaction which constitutes an Investment to the extent permitted and made
in accordance with Section 4.12(b) (except transactions pursuant to Sections 4.12(b)(1),
(5), (8) and (9));

     (12) any Investment consisting of prepaid expenses, negotiable instruments held for
collection and lease, endorsements for deposit or collection in the ordinary course of
business, utility or workers’ compensation, performance and similar deposits entered into as
a result of the operations of the business in the ordinary course of business;

     (13) pledges or deposits by a Person under workers’ compensation laws, unemployment
insurance laws or similar legislation, or 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 as security for contested taxes or import duties or for the payment of
rent, in each case incurred in the ordinary course of business;

     (14) any Investment acquired by an Issuer or any of its Restricted Subsidiaries (a) in
exchange for any other Investment or accounts receivable or rents receivable held by the
Parent 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 rents receivable or (b) as a result of a foreclosure by the Parent 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;

     (15) any Investment consisting of a loan or advance to officers, directors or employees
of the Parent, an Issuer or any of its Restricted Subsidiaries (a) in connection with the
purchase by such Persons of Capital Stock of the Parent or (b) for additional purposes made
in the ordinary course of business, in the aggregate under this clause (15) not to exceed
$2,500,000 at any one time outstanding;

     (16) any Investment made in connection with the funding of contributions under any
non-qualified employee retirement plan or similar employee compensation plan in an amount
not to exceed the amount of compensation expenses recognized by the Parent, an Issuer and
any of its Restricted Subsidiaries in connection with such plans;

     (17) any Investment existing on the Issue Date or made pursuant to a binding commitment
in effect on the Issue Date or an Investment consisting of any extension, modification,
replacement or renewal of any such Investment or binding commitment existing on the Issue
Date;

     (18) additional Investments not to exceed the greater of (x) $75,000,000 and (y) 5.0%
of Adjusted Total Assets at any time outstanding; and

-16-

 

     (19) Investments in Unrestricted Subsidiaries and joint ventures in an aggregate
amount, taken together with all other Investments made in reliance on this clause not to
exceed the greater of $75 million and 5.0% of Adjusted Total Assets (net of, with respect to
the Investment in any particular Person, the cash return thereon received after the Issue
Date as a result of any sale for cash, repayment, redemption, liquidating distribution or
other cash realization (not included in Consolidated EBITDA), not to exceed the amount of
Investments in such Person made after the Issue Date in reliance on this clause).

     “Permitted Mortgage Investment” means any Investment in secured notes, mortgage, deeds
of trust, collateralized mortgage obligations, commercial mortgage-backed securities, other secured
debt securities, secured debt derivative or other secured debt instruments, so long as such
investment relates directly or indirectly to real property that constitutes or is used as a skilled
nursing home center, hospital, assisted living facility, medical office or other property
customarily constituting an asset of a real estate investment trust specializing in healthcare or
senior housing property.

     “Permitted Payments to Parent” means, without duplication as to amounts:

     (A) payments to Parent to pay reasonable accounting, legal and administrative expenses
of Parent when due, in an aggregate amount not to exceed $500,000 per annum; and

     (B) payments to Parent in respect of its state, franchise and local tax liabilities.

     “Permitted Refinancing Indebtedness” means:

     (A) any Indebtedness of an Issuer or any of its Restricted Subsidiaries issued in
exchange for, or the net proceeds of which are used to extend, refinance, renew, replace,
defease, discharge or refund other Indebtedness of an Issuer or any of its Restricted
Subsidiaries (other than intercompany Indebtedness); provided that:

     (1) the principal amount (or accreted value, if applicable) of such Permitted
Refinancing Indebtedness does not exceed the principal amount (or accreted value, if
applicable) of the Indebtedness so extended, refinanced, renewed, replaced,
defeased, discharged or refunded (plus all accrued interest thereon and the amount
of any fees and expenses, including premiums, incurred in connection therewith);

     (2) such Permitted Refinancing Indebtedness has:

     (a) a final maturity date later than (x) the final maturity date of the
Indebtedness being extended, refinanced, renewed, replaced, defeased,
discharged or refunded or (y) the date that is 91 days after the maturity of
the Notes, and

     (b) an Average Life equal to or greater than the Average Life of the
Indebtedness being extended, refinanced, renewed, replaced, defeased,
discharged or refunded or 91 days more than the Average Life of the Notes;

     (3) if the Indebtedness being extended, refinanced, renewed, replaced,
defeased, discharged or refunded is contractually subordinated in right of payment
to the Notes or the Guarantee, such Permitted Refinancing Indebtedness is
contractually subordinated in right of payment to the Notes on terms at least as
favorable to the holders of

-17-

 

Notes as those contained in the documentation governing
the Indebtedness being extended, refinanced, renewed, replaced, defeased, discharged
or refunded;

     (4) if the Indebtedness being extended, refinanced, renewed, replaced,
defeased, discharged or refunded is pari passu in right of payment with the Notes or
any Guarantee thereof, such Permitted Refinancing Indebtedness is pari passu in
right of payment with, or subordinated in right of payment to, the Notes or such
Guarantee; and

     (5) such Indebtedness is incurred either (a) by an Issuer or any Subsidiary
Guarantor or (b) by the Restricted Subsidiary who is the obligor on the Indebtedness
being extended, refinanced, renewed, replaced, defeased, discharged or refunded.

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

     “Preferred Stock” means, with respect to any Person, any and all shares, interests,
participations or other equivalents (however designated, whether voting or non-voting) that have a
preference on liquidation or with respect to distributions over any other class of Capital Stock,
including preferred partnership interests, whether general or limited, or such Person’s preferred
or preference stock, whether outstanding on the Issue Date or issued thereafter, including all
series and classes of such preferred or preference stock.

     “principal” means, with respect to the Notes, the principal of and premium, if any, on
the Notes.

     “Private Placement Legend” means the legends initially set forth on the Notes in the
form set forth in Exhibit B.

     “Pro Forma Cost Savings” means, with respect to any period, the reductions in costs
(including such reductions resulting from employee terminations, facilities consolidations and
closings, standardization of employee benefits and compensation policies, consolidation of
property, casualty and other insurance coverage and policies, standardization of sales and
distribution methods, reductions in taxes other than income taxes) that occurred during such period
that are (1) directly attributable to an asset acquisition or (2) implemented and that are
factually supportable and reasonably quantifiable by the underlying records of such business, as
if, in the case of each of clauses (1) and (2), all such reductions in costs had been effected as
of the beginning of such period, decreased by any incremental expenses incurred or to be incurred
during such period in order to achieve such reduction in costs, all such costs to be determined in
good faith by the chief financial officer of the Parent or the Issuers.

     “Qualified Institutional Buyer” or “QIB” shall have the meaning specified in
Rule 144A under the Securities Act.

     “Real Estate Assets” of a Person means, as of any date, the real estate assets of such
Person and its Restricted Subsidiaries on such date, on a consolidated basis determined in
accordance with GAAP.

     “Record Date” means the applicable Record Date specified in the Notes.

     “Redemption Date” when used with respect to any Note to be redeemed, means the date
fixed for such redemption pursuant to this Indenture and the Notes.

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     “Redemption Price” when used with respect to any Note to be redeemed, means the price
fixed for such redemption, payable in immediately available funds, pursuant to this Indenture and
the Notes.

     “Registration Rights Agreement” means that certain registration rights agreement
related to the Notes dated the Issue Date among the Issuers, the Guarantors and the initial
purchasers.

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

     “Replacement Assets” means (1) tangible non-current assets that will be used or useful
in a Permitted Business or (2) substantially all the assets of a Permitted Business or a majority
of the Voting Stock of any Person engaged in a Permitted Business that will become on the date of
acquisition thereof a Restricted Subsidiary.

     “Responsible Officer” means, when used with respect to the Trustee, any officer in the
Corporate Trust Office of the Trustee to whom any corporate trust matter is referred because of
such officer’s knowledge of and familiarity with the particular subject and shall also mean any
officer who shall have direct responsibility for the administration of this Indenture.

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

     “Restricted Security” means a Note that constitutes a “Restricted Security” within the
meaning of Rule 144(a)(3) under the Securities Act; provided, however, that the Trustee shall be
entitled to request and conclusively rely on an Opinion of Counsel with respect to whether any Note
constitutes a Restricted Security.

     “Restricted Subsidiary” means, with respect to a Person, any Subsidiary of such Person
other than an Unrestricted Subsidiary. Unless the context otherwise requires, Restricted
Subsidiaries refer to Restricted Subsidiaries of the Issuers.

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

     “S&P” means Standard & Poor’s Ratings Services and its successors.

     “Sale and Leaseback Transaction” means any direct or indirect arrangement with any
Person or to which any such Person is a party, providing for the leasing to the Parent or any
Restricted Subsidiary of any property, whether owned by the Parent or any such Restricted
Subsidiary at the Issue Date or later acquired, which has been or is to be sold or transferred by
the Parent or any such Restricted Subsidiary to such Person or any other Person from whom funds
have been or are to be advanced by such Person on the security of such property.

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

     “Secured Indebtedness” means any Indebtedness secured by a Lien upon the property of
the Issuers or any Restricted Subsidiaries.

     “Securities Act” means the U.S. Securities Act of 1933, as amended, or any successor
statute or statutes thereto.

     “Significant Subsidiary” with respect to any Person, means any restricted subsidiary
of such Person that satisfies the criteria for a “significant subsidiary” set forth in Rule 1-02(w)
of Regulation S-X under the Exchange Act, as such regulation is in effect on the Issue Date.

-19-

 

     “Stated Maturity” means:

     (1) with respect to any debt security, the date specified in such debt security as the
fixed date on which the final installment of principal of such debt security is due and
payable; and

     (2) with respect to any scheduled installment of principal of or interest on any debt
security, the date specified in such debt security as the fixed date on which such
installment is due and payable,

provided, that Stated Maturity shall not include any contingent obligations to repay, redeem or
repurchase any such interest or principal prior to the date originally scheduled for the payment
thereof.

     “Subordinated Indebtedness” means Indebtedness which by the terms of such Indebtedness
is subordinated in right of payment to the principal of and interest and premium, if any, on the
Notes or any Guarantee thereof.

     “Subsidiary” means, with respect to any Person, any corporation, association or other
business entity of which more than 50% of the voting power of the outstanding Voting Stock is
owned, directly or indirectly, by such Person and one or more other Subsidiaries of such Person and
the accounts of which would be consolidated with those of such Person in its consolidated financial
statements in accordance with GAAP, if such statements were prepared as of such date.

     “Subsidiary Guarantors” means (i) each Restricted Subsidiary of the Issuers on the
Issue Date that Guarantees the Credit Agreement and (ii) each other Person that is required to
become a Guarantor by the terms of this Indenture after the Issue Date, in each case, until such
Person is released from its Guarantee of the Notes.

     “Temporary Cash Investment” means any of the following:

     (1) United States dollars;

     (2) direct obligations of the United States of America or any agency thereof or
obligations fully and unconditionally guaranteed by the United States of America or any
agency thereof;

     (3) time deposit accounts, term deposit accounts, time deposits, bankers’ acceptances,
certificates of deposit, Eurodollar time deposits and money market deposits maturing within
twelve months or less of the date of acquisition thereof issued by (A) a bank or trust
company which is organized under the laws of the United States of America, any state
thereof, and which bank or trust company has capital, surplus and undivided profits
aggregating in excess of $250,000,000 and has outstanding debt which is rated “A” (or such
similar equivalent rating) or higher by at least one nationally recognized statistical
rating organization (as defined in Rule 436 under the Securities Act) or (B) any
money-market fund sponsored by a registered broker dealer or mutual fund distributor;

     (4) repurchase obligations with a term of not more than 30 days for underlying
securities of the types described in clauses (2) and (3) above entered into with a bank
meeting the qualifications described in clause (3) above;

     (5) commercial paper, maturing not more than six months after the date of acquisition,
issued by a corporation (other than an Affiliate of the Parent) organized and in existence
under

-20-

 

the laws of the United States of America, any state of the United States of America
with a rating at the time as of which any investment therein is made of “P-2” (or higher)
according to Moody’s or “A-2” (or higher) according to S&P;

     (6) securities with maturities of twelve months or less from the date of acquisition
issued or fully and unconditionally guaranteed by any state, commonwealth or territory of
the United States of America, or by any political subdivision or taxing authority thereof,
and rated at least “A” by S&P or Moody’s;

     (7) securities with maturities of six months or less from the date of acquisition
backed by standby letters of credit issued by any commercial bank satisfying the
requirements of clause (3)(A) of this definition;

     (8) any fund investing substantially all of its assets in investments that constitute
Temporary Cash Investments of the kinds described in clauses (1) through (7) of this
definition; and

     (9) money market funds that (A) comply with the criteria set forth in SEC Rule 2a-7
under the Investment Company Act of 1940, as amended, (B) are rated AAA by S&P and Aaa by
Moody’s and (iii) have portfolio assets of at least $5,000,000,000.

     “Total Assets” means, for any Person as of any date, the sum of (a) Undepreciated Real
Estate Assets plus (b) the book value of all assets (excluding Real Estate Assets and intangibles)
of such Person and its Restricted Subsidiaries as of such date of determination on a consolidated
basis determined in accordance with GAAP.

     “Total Unencumbered Assets” means, for any Person as of any date, the Total Assets of
such Person and its Restricted Subsidiaries as of such date, that do not secure any portion of
Secured Indebtedness, on a consolidated basis determined in accordance with GAAP.

     “Trade Payables” means, with respect to any Person, any accounts payable or any other
indebtedness or monetary obligation to trade creditors created, assumed or Guaranteed by such
Person or any of its Subsidiaries arising in the ordinary course of business in connection with the
acquisition of goods or services.

     “Transaction Date” means, with respect to the Incurrence of any Indebtedness by an
Issuer or any of its Restricted Subsidiaries, the date such Indebtedness is to be Incurred and,
with respect to any Restricted Payment, the date such Restricted Payment is to be made.

     “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) (“Statistical
Release”) 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 May 1, 2016;
provided, however, that if the period from the redemption date to May 1, 2016, 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.

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

     “Undepreciated Real Estate Assets” means, as of any date, the cost (being the original
cost to an Issuer or the Restricted Subsidiaries plus capital improvements) of real estate assets
of the Issuers and the Subsidiaries on such date, before depreciation and amortization of such real
estate assets, determined on a consolidated basis in conformity with GAAP.

     “Unrestricted Subsidiary” means

     (1) any Subsidiary of the Issuers that at the time of determination shall be designated
an Unrestricted Subsidiary by the Board of Directors of the Parent in the manner provided
below; and

     (2) any Subsidiary of an Unrestricted Subsidiary.

     Except during a Suspension Period, the Board of Directors of the Parent may designate any
Restricted Subsidiary (including any newly acquired or newly formed Subsidiary of the Issuers) to
be an Unrestricted Subsidiary unless such Subsidiary owns any Capital Stock of, or owns or holds
any Lien on any property of, the Parent or any of its Restricted Subsidiaries; provided, however,
that:

		 	     (i) any Guarantee by the Parent or any of its Restricted Subsidiaries of any
Indebtedness of the Subsidiary being so designated shall be deemed an “Incurrence”
of such Indebtedness and an “Investment” by the Parent or such Restricted Subsidiary
(or all, if applicable) at the time of such designation;

     (ii) either (i) the Subsidiary to be so designated has total assets of $1,000 or less
or (ii) if such Subsidiary has assets greater than $1,000, such designation would be
permitted under Section 4.09; and

		 	     (iii) if applicable, the Incurrence of Indebtedness and the Investment referred to in
clause (i) above would be permitted under Section 4.09.

     The Board of Directors of the Parent may designate any Unrestricted Subsidiary to be a
Restricted Subsidiary; provided, however, that:

     (x) no Default or Event of Default shall have occurred and be continuing at the time of
or after giving effect to such designation; and

     (y) all Indebtedness of such Unrestricted Subsidiary outstanding immediately after such
designation would, if Incurred at such time, have been permitted to be Incurred (and shall
be deemed to have been Incurred) for all purposes of this Indenture.

     Any such designation by the Board of Directors of the Parent shall be evidenced to the Trustee
by promptly filing with the Trustee a copy of the Board Resolution giving effect to such
designation and an Officer’s Certificate certifying that such designation complied with the
foregoing provisions.

     “Unsecured Indebtedness” means any Indebtedness of the Parent or any of its Restricted
Subsidiaries that is not Secured Indebtedness.

-22-

 

     “U.S. Government Obligations” means direct obligations of, obligations guaranteed by,
or participations in pools consisting solely of obligations of or obligations guaranteed by, the
United States of America for the payment of which obligations or guarantee the full faith and
credit of the United States of America is pledged and that are not callable or redeemable at the
option of the issuer thereof.

     “U.S. Legal Tender” means such coin or currency of the United States of America that
at the time of payment shall be legal tender for the payment of public and private debts.

     “U.S.A. Patriot Act” means the Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56, as
amended and signed into law October 26, 2001.

     “Voting Stock” means with respect to any Person, Capital Stock of any class or kind
ordinarily having the power to vote for the election of directors, managers or other voting members
of the governing body of such Person.

     “Wholly Owned” means, with respect to any Subsidiary of any Person, the ownership of
all of the outstanding Capital Stock of such Subsidiary (other than any director’s qualifying
shares or Investments by individuals mandated by applicable law) by such Person or one or more
Wholly Owned Subsidiaries of such Person.

     SECTION 1.02. Other Definitions.

	 	 	 	 	 
	Term	 	Defined in Section
	“144A Global Note”

	 	 	2.01	 
	“Acceptable Commitments”

	 	 	4.11	(c)
	“Additional Notes”

	 	 	2.02	 
	“Asset Sale Offer”

	 	 	4.11	(d)
	“Authentication Order”

	 	 	2.02	 
	“Change of Control Offer”

	 	 	4.07	(a)
	“Change of Control Payment”

	 	 	4.07	(b)
	“Change of Control Payment Date”

	 	 	4.07	(b)
	“Covenant Defeasance”

	 	 	8.02	(c)
	“Event of Default”

	 	 	6.01	 
	“Excess Proceeds”

	 	 	4.11	(c)
	“Finco”

	 	Preamble

	“Global Note”

	 	 	2.01	 
	“Initial Global Notes”

	 	 	2.01	 
	“Initial Notes”

	 	 	2.02	 
	“Issuer” or “Issuers”

	 	Preamble

	“Legal Defeasance”

	 	 	8.02	(b)
	“Opco”

	 	Preamble

	“Parent”

	 	Preamble

	“Participants”

	 	 	2.15	(a)
	“Paying Agent”

	 	 	2.03	 
	“Physical Notes”

	 	 	2.01	 
	“purchase”

	 	 	4.09(a	)(3)
	“Refunding Capital Stock”

	 	 	4.09(b	)(4)
	“Registrar”

	 	 	2.03	 
	“Regulation S Global Note”

	 	 	2.01	 
	“Restricted Payments”

	 	 	4.09(a	)(4)

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	Term	 	Defined in Section
	“Reversion Date”

	 	 	4.16	 
	“Suspended Covenant”

	 	 	4.16	 
	“Suspension Period”

	 	 	4.16	 

     SECTION 1.03. Incorporation by Reference of Trust Indenture Act. Whenever this Indenture refers to
a provision of the Trust Indenture Act, such provision is incorporated by reference in, and made a
part of, this Indenture. The following Trust Indenture Act terms used in this Indenture have the
following meanings:

     “indenture securities” means the Notes.

     “obligor” on the indenture securities means the Issuers, any Guarantor or any
other obligor on the Notes.

     All other Trust Indenture Act 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
and not otherwise defined herein have the meanings assigned to them therein.

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

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

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

     (3) “or” is not exclusive;

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

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

     (6) the words “including,” “includes” and similar words shall be deemed to be followed
by “without limitation”;

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

     (8) secured Indebtedness shall not be deemed to be subordinate or junior to any other
secured Indebtedness merely because it has a junior priority with respect to the same
collateral;

     (9) the principal amount of any noninterest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance sheet of the
issuer dated such date prepared in accordance with GAAP;

     (10) the amount of any preferred stock that does not have a fixed redemption, repayment
or repurchase price shall be the maximum liquidation value of such Preferred Stock;

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     (11) all references to the date the Notes were originally issued shall refer to the
Issue Date, except as otherwise specified;

     (12) references to the Issuers mean either the Issuers or the applicable Issuer, as the
context requires, and references to an Issuer mean either such Issuer or the Issuers, as the
context requires; and

     (13) whenever in this Indenture there is mentioned, in any context, principal, interest
or any other amount payable under or with respect to any Notes, such mention shall be deemed
to include mention of the payment of Additional Interest, to the extent that, in such
context, Additional Interest is, was or would be payable in respect thereof pursuant to
Section 1 of the Notes.

ARTICLE TWO

The Notes

     SECTION 2.01. Form and Dating. 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 rule or usage. The Issuers shall approve the form of
the Notes and any notation, legend or endorsement on them. Each Note shall be dated the date of
its issuance and show the date of its authentication. Each Note shall have an executed Guarantee
from each of the Guarantors existing on the Issue Date endorsed thereon substantially in the form
of Exhibit D.

     The terms and provisions contained in the Notes and the Guarantees shall constitute, and are
hereby expressly made, a part of this Indenture and, to the extent applicable, the Issuers, the
Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to
such terms and provisions and to be bound thereby.

     Notes offered and sold in reliance on Rule 144A shall be issued initially in the form of a
single permanent global Note in registered form, substantially in the form set forth in Exhibit
A (the “144A Global Note”), deposited with the Trustee, as custodian for the
Depository, duly executed by the Issuers (and having an executed Guarantee from each of the
Guarantors endorsed thereon) and authenticated by the Trustee as hereinafter provided and shall
bear the legends set forth in Exhibit B.

     Notes offered and sold in offshore transactions in reliance on Regulation S shall be issued
initially in the form of a single permanent global Note in registered form, substantially in the
form of Exhibit A (the “Regulation S Global Note” and, together with the 144A
Global Note, the “Initial Global Notes”), deposited with the Trustee, as custodian for the
Depository, duly executed by the Issuers (and having an executed Guarantee from each of the
Guarantors endorsed thereon) and authenticated by the Trustee as hereinafter provided and shall
bear the legends set forth in Exhibit B.

     Notes issued after the Issue Date shall be issued initially in the form of one or more global
Notes in registered form, substantially in the form set forth in Exhibit A, deposited with
the Trustee, as custodian for the Depository, duly executed by the Issuers (and having an executed
Guarantee from each of the Guarantors endorsed thereon) and authenticated by the Trustee as
hereinafter provided and shall bear any legends required by applicable law (together with the
Initial Global Notes, the “Global Notes”) or as Physical Notes.

     The aggregate principal amount of the Global Notes may from time to time be increased or
decreased by adjustments made on the records of the Trustee, as custodian for the Depository, as
hereinafter provided. Notes issued in exchange for interests in a Global Note pursuant to Section
2.16 may be issued

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in the form of permanent certificated Notes in registered form in substantially the form set
forth in Exhibit A and bearing the applicable legends, if any (the “Physical
Notes”).

     Additional Notes ranking pari passu with the Initial Notes (as defined in Section 2.02) may be
created and issued from time to time by the Issuers 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, redemption or otherwise (other than with respect to the purchase price thereof
and the date from which the interest accrues) as the Initial Notes; provided that the Issuers’
ability to issue Additional Notes shall be subject to the Issuers’ compliance with Section 4.08.
Except as described under Article Nine, the Initial Notes and any Additional Notes subsequently
issued under this Indenture will be treated as a single class for all purposes under this
Indenture, including waivers, amendments, redemptions and offers to purchase, and shall vote
together as one class on all matters with respect to the Notes; provided further that if the
Additional Notes are not fungible with the Notes for U.S. Federal income tax purposes the
Additional Notes will have a separate CUSIP number, if applicable. Unless the context requires
otherwise, references to “Notes” for all purposes of this Indenture include any Additional Notes
that are actually issued. With respect to any Additional Notes issued subsequent to the date of
this Indenture notwithstanding anything else herein, (1) all references in Exhibit A herein
and elsewhere in this Indenture to a Registration Rights Agreement shall be to the registration
rights agreement entered into with respect to such Additional Notes, (2) any references in
Exhibit A and elsewhere in this Indenture to the Exchange Offer and Exchange Securities,
and any other term related thereto shall be to such term as they are defined in such registration
rights agreement entered into with respect to such Additional Notes, (3) all time periods described
in the Notes with respect to the registration of such Additional Notes shall be as provided in such
Registration Rights Agreement entered into with respect to such Additional Notes and (4) any
Additional Interest may, if set forth in the Registration Rights Agreement, be paid to the holders
of the Additional Notes immediately prior to the making or the consummation of the Exchange Offer
regardless of any other provisions regarding record dates herein.

     SECTION 2.02. Execution, Authentication and Denomination; Additional Notes; Exchange Securities.
One Officer of each of the Issuers (who shall have been duly authorized by all requisite corporate
actions) shall sign the Notes for each Issuer by manual, facsimile,. pdf attachment or other
electronically transmitted signature. One Officer of each Guarantor (who shall have been duly
authorized by all requisite corporate actions) shall sign the Guarantee for such Guarantor by
manual, facsimile,. pdf attachment or other electronically transmitted signature.

     If an Officer whose signature is on a Note or Guarantee, as the case may be, was an Officer at
the time of such execution but no longer holds that office at the time the Trustee authenticates
the Note, the Note shall nevertheless be valid.

     A Note (and the Guarantees in respect thereof) shall not be valid until an authorized
signatory of the Trustee manually signs the certificate of authentication on the Note. The
signature shall be conclusive evidence that the Note has been authenticated under this Indenture.

     The Trustee shall authenticate (i) on the Issue Date, Notes for original issue in the
aggregate principal amount not to exceed $450,000,000 (the “Initial Notes”), (ii)
additional Notes (the “Additional Notes”) in an unlimited amount (so long as not otherwise
prohibited by the terms of this Indenture, including Section 4.08) and (iii) Exchange Securities
(x) in exchange for a like principal amount of Initial Notes or (y) in exchange for a like
principal amount of Additional Notes in each case upon a written order of the Issuers in the form
of a certificate of an Officer of each Issuer (an “Authentication Order”). Each such
Authentication Order shall specify the amount of Notes to be authenticated and the date on which
the Notes are to be authenticated, whether the Notes are to be Initial Notes, Exchange Securities
or Additional

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Notes and whether the Notes are to be issued as certificated Notes or Global Notes or
such other information as the Trustee may reasonably request. In addition, with respect to
authentication pursuant to clause (ii) or (iii) of the first sentence of this paragraph, the first
such Authentication Order from the Issuers shall be accompanied by an Opinion of Counsel of the
Issuers in a form reasonably satisfactory to the Trustee.

     All Notes issued under this Indenture shall be treated as a single class for all purposes
under this Indenture. The Additional Notes shall bear any legend required by applicable law.

     The Trustee may appoint an authenticating agent reasonably acceptable to the Issuers to
authenticate Notes. Unless otherwise provided in the appointment, 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 the Issuers and Affiliates of the Issuers.

     The Notes shall be issuable only in registered form without coupons in denominations of $2,000
and integral multiples of $1,000 in excess thereof.

     SECTION 2.03. Registrar and Paying Agent. The Issuers shall maintain or cause to be maintained an
office or agency in the United States of America where (a) Notes may be presented or surrendered
for registration of transfer or for exchange (“Registrar”), (b) Notes may, subject to
Section 2 of the Notes, be presented or surrendered for payment (“Paying Agent”). The
Issuers 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, however, that no such designation or rescission shall in any manner relieve
the Issuers of their obligation to maintain or cause to be maintained an office or agency in the
United States of America, for such purposes. The Issuers may act as Registrar or Paying Agent,
except that for the purposes of Articles Three and Eight and Sections 4.07 and 4.11, neither the
Issuers nor any Affiliate of the Issuers shall act as Paying Agent. The Registrar, as an agent of
the Issuers, shall keep a register, including ownership, of the Notes and of their transfer and
exchange. The Issuers, upon notice to the Trustee, may have one or more co-registrars and one or
more additional paying agents reasonably acceptable to the Trustee. The term “Registrar” includes
any co-registrar and the term “Paying Agent” includes any additional paying agent. The
Issuers initially appoint the Trustee as Registrar and Paying Agent until such time as the Trustee
has resigned or a successor has been appointed.

     The Issuers shall enter into an appropriate agency agreement with any Agent not a party to
this Indenture, which agreement shall implement the provisions of this Indenture that relate to
such Agent. The Issuers shall notify the Trustee, in advance, of the name and address of any such
Agent. If the Issuers fail to maintain a Registrar or Paying Agent, the Trustee shall act as such.

     SECTION 2.04. Paying Agent To Hold Assets in Trust. The Issuers shall require each Paying Agent
other than the Trustee or the Issuers or any Subsidiary of the Issuers to agree in writing that
each Paying Agent shall hold in trust for the benefit of Holders or the Trustee all assets held by
the Paying Agent for the payment of principal of, or interest on, the Notes (whether such assets
have been distributed to it by the Issuers or any other obligor on the Notes), and shall notify the
Trustee of any Default by the Issuers (or any other obligor on the Notes) in making any such
payment. The Issuers at any time may require a Paying Agent to distribute all assets held by it to
the Trustee and account for any assets disbursed and the Trustee may at any time during the
continuance of any payment Default, upon written request to a Paying Agent, require such Paying
Agent to distribute all assets held by it to the Trustee and to account for any assets distributed.
Upon distribution to the Trustee of all assets that shall have been delivered by the Issuers to
the Paying Agent, the Paying Agent shall have no further liability for such assets.

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     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 Holders. If the
Trustee is not the Registrar, the Issuers shall furnish to the Trustee at least two Business Days
prior to 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 Holders, which list may be conclusively relied upon by the Trustee.

     SECTION 2.06. Transfer and Exchange. Subject to Sections 2.15 and 2.16, when Notes are presented to
the Registrar with a request to register the transfer of such Notes or to exchange such Notes for
an equal principal amount of Notes of other authorized denominations, the Registrar shall register
the transfer or make the exchange as requested if its requirements for such transaction are met;
provided, however, that the Notes surrendered for transfer or exchange shall be duly endorsed or
accompanied by a written instrument of transfer in form satisfactory to the Issuers and the
Registrar, duly executed by the Holder thereof or his or her attorney duly authorized in writing.
To permit registrations of transfers and exchanges, the Issuers shall execute and the Trustee shall
authenticate Notes at the Registrar’s request. No service charge shall be made for any
registration of transfer or exchange, but the Issuers may require payment of a sum sufficient to
cover any transfer tax or similar governmental charge payable in connection therewith.

     Without the prior written consent of the Issuers, the Registrar shall not be required to
register the transfer of or exchange of any Note (i) during a period beginning at the opening of
business 15 days before the mailing of a notice of redemption of Notes and ending at the close of
business on the day of such mailing, (ii) selected for redemption in whole or in part pursuant to
Article Three, except the unredeemed portion of any Note being redeemed in part and (iii) beginning
at the opening of business on any Record Date and ending on the close of business on the related
Interest Payment Date.

     Any Holder of a beneficial interest in a Global Note shall, by acceptance of such beneficial
interest, agree that transfers of beneficial interests in such Global Notes may be effected only
through a book-entry system maintained by the Holder of such Global Note (or its agent) in
accordance with the applicable legends thereon, and that ownership of a beneficial interest in the
Note shall be required to be reflected in a book-entry system.

     SECTION 2.07. Replacement Notes. If a mutilated Note is surrendered to the Trustee or if the Holder
of a Note claims that the Note has been lost, destroyed or wrongfully taken, the Issuers shall
issue and the Trustee shall authenticate, upon receipt of an Authentication Order, a replacement
Note if the Trustee’s and Issuers’ requirements are met. Such Holder shall provide an indemnity
bond or other indemnity, sufficient in the judgment of both the Issuers and the Trustee, to protect
the Issuers, the Trustee or any Agent from any loss that any of them may suffer if a Note is
replaced. The Issuers may charge such Holder for its out-of-pocket expenses in replacing a Note
pursuant to this Section 2.07, including fees and expenses of counsel and of the Trustee.

     Every replacement Note is an additional obligation of the Issuers and every replacement
Guarantee shall constitute an additional obligation of the Guarantor thereof.

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

     SECTION 2.08. Outstanding Notes. Notes outstanding at any time are all the Notes that have been
authenticated by the Trustee except those cancelled by it, those delivered to it for cancellation
and those described in this Section 2.08 as not outstanding. A Note does not cease to be
outstanding because

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the Issuers, the Guarantors or any of their respective Affiliates hold the Note (subject to
the provisions of Section 2.09).

     If a Note is replaced pursuant to Section 2.07 (other than a mutilated Note surrendered for
replacement), it ceases to be outstanding unless a Responsible Officer of the Trustee receives
proof satisfactory to it that the replaced Note is held by a bona fide purchaser. A mutilated Note
ceases to be outstanding upon surrender of such Note and replacement thereof pursuant to Section
2.07.

     If the principal amount of any Note is considered paid under Section 4.01, it ceases to be
outstanding and interest ceases to accrue. If on a Redemption Date or the Stated Maturity the
Trustee or Paying Agent (other than the Issuers or an Affiliate thereof) holds U.S. Legal Tender or
U.S. Government Obligations sufficient to pay all of the principal and interest due on the Notes
payable on that date, then on and after that date such Notes cease to be outstanding and interest
on them ceases to accrue.

     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 Issuers or any of
their Affiliates shall be disregarded as required by the Trust Indenture Act, 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, actually knows are so
owned shall be 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 Issuers or any obligor upon the Notes or any Affiliate of the Issuers or of such other obligor.

     SECTION 2.10. Temporary Notes. Until definitive Notes are ready for delivery, the Issuers may
prepare and the Trustee shall authenticate temporary Notes. Temporary Notes shall be substantially
in the form of definitive Notes but may have variations that the Issuers consider appropriate for
temporary Notes. Without unreasonable delay, the Issuers shall prepare and the Trustee shall
authenticate definitive Notes in exchange for temporary Notes. Until such exchange, temporary
Notes shall be entitled to the same rights, benefits and privileges as definitive Notes.
Notwithstanding the foregoing, so long as the Notes are represented by a Global Note, such Global
Note may be in typewritten form.

     SECTION 2.11. Cancellation. The Issuers at any time may deliver Notes to the Trustee for
cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Notes
surrendered to them for transfer, exchange or payment. The Trustee, or at the direction of the
Trustee, the Registrar or the Paying Agent (other than the Issuers or a Subsidiary of the Issuers),
and no one else, shall cancel and, at the written direction of the Issuers, shall dispose of all
Notes surrendered for transfer, exchange, payment or cancellation in accordance with its customary
procedures. Subject to Section 2.07, the Issuers may not issue new Notes to replace Notes that
they have paid or delivered to the Trustee for cancellation. If the Issuers or any Guarantor shall
acquire any of the Notes, such acquisition shall not operate as a redemption or satisfaction of the
Indebtedness represented by such Notes unless and until the same are surrendered to the Trustee for
cancellation pursuant to this Section 2.11.

     SECTION 2.12. Defaulted Interest. If the Issuers default in a payment of interest on the Notes,
they shall pay the defaulted interest, plus (to the extent lawful) any interest payable on the
defaulted interest, in any lawful manner. The Issuers may pay the defaulted interest to the
persons who are Holders on a subsequent special record date, which date shall be the 15th day next
preceding the date fixed by the Issuers for the payment of defaulted interest or the next
succeeding Business Day if such date is not a Business Day. At least 15 days before any such
subsequent special record date, the Issuers shall mail to each Holder, with a copy to the Trustee,
a notice that states the subsequent special record date, the payment

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date and the amount of defaulted interest, and interest payable on such defaulted interest, if
any, to be paid.

     SECTION 2.13. CUSIP and ISIN Numbers. The Issuers in issuing the Notes may use “CUSIP” or “ISIN”
numbers, and if so, the Trustee shall use the “CUSIP” or “ISIN” numbers in notices of redemption or
exchange as a convenience to Holders; provided, however, that any such notice may state that no
representation is made as to the correctness or accuracy of the “CUSIP” or “ISIN” numbers printed
in the notice or on the Notes, and that reliance may be placed only on the other identification
numbers printed on the Notes. The Issuers shall promptly notify the Trustee of any change in the
“CUSIP” or “ISIN” numbers.

     SECTION 2.14. [Reserved].

     SECTION 2.15. Book-Entry Provisions for Global Notes.

     (a) The Global Notes initially shall (i) be registered in the name of the Depository or the
nominee of such Depository, (ii) be delivered to the Trustee as custodian for such Depository and
(iii) bear legends as set forth in Exhibit B as applicable.

     Members of, or participants in, the Depository (“Participants”) shall have no rights
under this Indenture with respect to any Global Note held on their behalf by the Depository, or the
Trustee as its custodian, or under the Global Note, and the Depository may be treated by the
Issuers, the Trustee and any agent of the Issuers or the Trustee as the absolute owner of the
Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall
prevent the Issuers, the Trustee or any agent of the Issuers or the Trustee from giving effect to
any written certification, proxy or other authorization furnished by the Depository or impair, as
between the Depository and Participants, the operation of customary practices governing the
exercise of the rights of a Holder of any Note.

     (b) Transfers of Global Notes shall be limited to transfers in whole, but not in part, to the
Depository, its successors or their respective nominees. Interests of beneficial owners in the
Global Notes may be transferred or exchanged for Physical Notes in accordance with the rules and
procedures of the Depository and the provisions of Section 2.16. In addition, Physical Notes shall
be transferred to all beneficial owners in exchange for their beneficial interests in Global Notes
if (i) the Depository notifies the Issuers that it is unwilling or unable to act as Depository for
any Global Note, the Issuers so notify the Trustee in writing and a successor Depository is not
appointed by the Issuers within 90 days of such notice or (ii) a Default or Event of Default has
occurred and is continuing and the Registrar has received a written request from any owner of a
beneficial interest in a Global Note to issue Physical Notes. Upon any issuance of a Physical Note
in accordance with this Section 2.15(b) the Trustee is required to register such Physical Note in
the name of, and cause the same to be delivered to, such person or persons (or the nominee of any
thereof). All such Physical Notes shall bear the applicable legends, if any.

     (c) In connection with any transfer or exchange of a portion of the beneficial interest in a
Global Note to beneficial owners pursuant to paragraph (b) of this Section 2.15, the Registrar
shall (if one or more Physical Notes are to be issued) reflect on its books and records the date
and a decrease in the principal amount of such Global Note in an amount equal to the principal
amount of the beneficial interest in the Global Note to be transferred, and the Issuers shall
execute, and the Trustee shall authenticate and deliver, one or more Physical Notes of authorized
denominations in an aggregate principal amount equal to the principal amount of the beneficial
interest in the Global Note so transferred.

     (d) In connection with the transfer of a Global Note as an entirety to beneficial owners
pursuant to paragraph (b) of this Section 2.15, such Global Note shall be deemed to be surrendered
to the

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Trustee for cancellation, and (i) the Issuers shall execute, (ii) the Guarantors shall execute
notations of Guarantees on and (iii) the Trustee shall upon written instructions from the Issuers
authenticate and deliver, to each beneficial owner identified by the Depository in exchange for its
beneficial interest in such Global Note, an equal aggregate principal amount of Physical Notes of
authorized denominations.

     (e) Any Physical Note constituting a Restricted Security delivered in exchange for an interest
in a Global Note pursuant to paragraph (b) or (c) of this Section 2.15 shall, except as otherwise
provided by Section 2.16, bear the Private Placement Legend.

     (f) The Holder of any Global Note may grant proxies and otherwise authorize any Person,
including Participants and Persons that may hold interests through Participants, to take any action
which a Holder is entitled to take under this Indenture or the Notes.

     SECTION 2.16. Special Transfer and Exchange Provisions.

     (a) Transfers to QIBs. The following provisions shall apply with respect to the
registration of any proposed transfer of a Restricted Security to a QIB:

     (i) the Registrar shall register the transfer of any Restricted Security, whether or
not such Note bears the Private Placement Legend, if such transfer is being made by a
proposed transferor who has checked the box provided for on the applicable Global Note
stating that the sale has been made in compliance with the provisions of Rule 144A to a
transferee who has signed the certification provided for on the applicable Global Note
stating that it is purchasing the Note for its own account or an account with respect to
which it exercises sole investment discretion and that it and any such account is a QIB
within the meaning of Rule 144A, and is aware that the sale to it is being made in reliance
on Rule 144A and acknowledges that it has received such information regarding the Issuers as
it has requested pursuant to Rule 144A or has determined not to request such information and
that it is aware that the transferor is relying upon its foregoing representations in order
to claim the exemption from registration provided by Rule 144A;

     (ii) if the proposed transferee is a Participant and the Notes to be transferred
consist of Physical Notes which after transfer are to be evidenced by an interest in the
144A Global Note, upon receipt by the Registrar of the Physical Note and written
instructions given in accordance with the Depository’s and the Registrar’s procedures, the
Registrar shall register the transfer and reflect on its book and records the date and an
increase in the principal amount of the 144A Global Note in an amount equal to the principal
amount of Physical Notes to be transferred, and the Registrar shall cancel the Physical
Notes so transferred; and

     (iii) if the proposed transferor is a Participant seeking to transfer an interest in
the Regulation S Global Note, upon receipt by the Registrar of written instructions given in
accordance with the Depository’s and the Registrar’s procedures, the Registrar shall
register the transfer and reflect on its books and records the date and (A) a decrease in
the principal amount of the Regulation S Global Note in an amount equal to the principal
amount of the Notes to be transferred and (B) an increase in the principal amount of the
144A Global Note in an amount equal to the principal amount of the Notes to be transferred.

     (b) Transfers to Non-U.S. Persons. The following provisions shall apply with respect
to any transfer of a Restricted Security to a Non-U.S. Person under Regulation S:

     (i) the Registrar shall register any proposed transfer of a Restricted Security to a
Non-U.S. Person upon receipt of a certificate substantially in the form of Exhibit C
from the proposed

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transferor and such certifications, legal opinions and other information as the
Trustee or the Issuers may reasonably request; and

     (ii) (a) if the proposed transferor is a Participant holding a beneficial interest in
the Rule 144A Global Note or the Note to be transferred consists of Physical Notes, upon
receipt by the Registrar of (x) the documents required by paragraph (i) and (y) instructions
in accordance with the Depository’s and the Registrar’s procedures, the Registrar shall
reflect on its books and records the date and a decrease in the principal amount of the Rule
144A Global Note in an amount equal to the principal amount of the beneficial interest in
the Rule 144A Global Note to be transferred or cancel the Physical Notes to be transferred
and (b) if the proposed transferee is a Participant, upon receipt by the Registrar of
instructions given in accordance with the Depository’s and the Registrar’s procedures, the
Registrar shall reflect on its books and records the date and an increase in the principal
amount of the Regulation S Global Note in an amount equal to the principal amount of the
Rule 144A Global Note or the Physical Notes, as the case may be, to be transferred.

     (c) Exchange Offer. Upon the occurrence of the Exchange Offer in accordance with the
Registration Rights Agreement, the Issuers shall issue and, upon receipt of an Authentication Order
in accordance with Section 2.02, the Trustee shall authenticate one or more Global Notes and/or
Physical Notes not bearing the Private Placement Legend in an aggregate principal amount equal to
the principal amount of the beneficial interests in the Initial Global Notes or Physical Notes, as
the case may be, tendered for acceptance in accordance with the Exchange Offer and accepted for
exchange in the Exchange Offer.

     (d) Restrictions on Transfer and Exchange of Global Notes. Notwithstanding any other
provisions of this Indenture, a Global Note may not be transferred as a whole except by the
Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or
another nominee of the Depository or by the Depository or any such nominee to a successor
Depository or a nominee of such successor Depository.

     (e) Private Placement Legend. Upon the transfer, exchange or replacement of Notes not
bearing the Private Placement Legend unless otherwise required by applicable law, the Registrar
shall deliver Notes that do not bear the Private Placement Legend. Upon the transfer, exchange or
replacement of Notes bearing the Private Placement Legend, the Registrar shall deliver only Notes
that bear the Private Placement Legend unless (i) there is delivered to the Trustee an Opinion of
Counsel reasonably satisfactory to the Issuers and the Trustee to the effect that neither such
legend nor the related restrictions on transfer are required in order to maintain compliance with
the provisions of the Securities Act or (ii) such Note has been offered and sold (including
pursuant to the Exchange Offer) pursuant to an effective registration statement under the
Securities Act.

     (f) General. By its acceptance of any Note bearing the Private Placement Legend, each
Holder of such a Note acknowledges the restrictions on transfer of such Note set forth in this
Indenture and in the Private Placement Legend and agrees that it shall transfer such Note only as
provided in this Indenture.

     The Registrar shall retain copies of all letters, notices and other written communications
received pursuant to Section 2.15 or Section 2.16. The Issuers shall have the right to inspect and
make copies of all such letters, notices or other written communications at any reasonable time
upon the giving of reasonable written notice to the Registrar.

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

     The Trustee shall have no responsibility for the actions or omissions of the Depository, or
the accuracy of the books and records of the Depository.

     (g) Cancellation and/or Adjustment of Global Note. At such time as all beneficial
interests in a particular Global Note have been exchanged for Physical 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
hereof. 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 Physical 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 Depository 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 Depository at the direction of the Trustee to reflect such increase.

ARTICLE THREE

Redemption

     SECTION 3.01. Notices to Trustee. The Notes may be redeemed, in whole, or from time to time in
part, subject to the conditions and at the redemption prices set forth in Section 5 and Section 6
of the form of Notes set forth in Exhibit A hereto, which is hereby incorporated by
reference and made a part of this Indenture, together with accrued and unpaid interest to the
Redemption Date. If the Issuers elect to redeem Notes pursuant to Section 5 or Section 6 of the
Notes, they shall notify the Trustee in writing of the Redemption Date, the Redemption Price and
the principal amount of Notes to be redeemed. The Issuers shall give notice of redemption to the
Trustee at least 45 days before the Redemption Date (unless a shorter notice shall be agreed to by
the Trustee in writing), together with such documentation and records as shall enable the Trustee
to select the Notes to be redeemed.

     SECTION 3.02. Selection of Notes To Be Redeemed. If less than all of the Notes are to be redeemed
at any time pursuant to Section 5 or Section 6 of the Notes, the Trustee shall select Notes for
redemption as follows:

     (x) in compliance with the requirements of the principal national securities exchange,
if any, on which the Notes are then listed; or

     (y) on a pro rata basis, by lot or by such method as the Trustee shall deem fair and
appropriate;

provided, however, that, in the case of such redemption pursuant to Section 6 of the Notes, the
Trustee shall select the Notes on a pro rata basis to the extent practicable, by lot or such other
method as the Trustee

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in its sole discretion shall deem to be fair and appropriate, unless another method is required
by law or applicable exchange or depositary requirements (subject to the procedures of the
Depository).

     No Notes of $2,000 or less shall be redeemed in part.

     SECTION 3.03. Notice of Redemption. At least 30 days but not more than 60 days before a Redemption
Date, the Issuers shall mail a notice of redemption by first class mail, postage prepaid, or as
otherwise provided in accordance with the procedures of the Depository, to each Holder whose Notes
are to be redeemed at its registered address, except that redemption notices may be mailed more
than 60 days prior to a Redemption Date if the notice is issued in connection with a defeasance of
the Notes or a satisfaction and discharge of this Indenture pursuant to Article Eight hereof.
Notices of redemption may be given prior to the completion of an Equity Offering, and any
redemption or notice may, at the Issuers’ discretion, be subject to the completion of an Equity
Offering. At the Issuers’ request, the Trustee shall forward the notice of redemption in the
Issuers’ name and at the Issuers’ expense. Each notice for redemption shall identify the Notes
(including the CUSIP or ISIN number) to be redeemed and shall state:

     (1) the Redemption Date;

     (2) the Redemption Price and the amount of accrued interest, if any, to be paid;

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

     (4) that Notes called for redemption shall be surrendered to the Paying Agent to
collect the Redemption Price plus accrued interest, if any;

     (5) that, unless the Issuers default in making the redemption payment, interest on
Notes called for redemption ceases to accrue on and after the Redemption Date, and the only
remaining right of the Holders of such Notes is to receive payment of the Redemption Price
upon surrender to the Paying Agent of the Notes redeemed;

     (6) if any Note is being redeemed in part, the portion of the principal amount of such
Note to be redeemed and that, after the Redemption Date, and upon surrender and cancellation
of such Note, a new Note or Notes in aggregate principal amount equal to the unredeemed
portion thereof will be issued;

     (7) if fewer than all the Notes are to be redeemed, the identification of the
particular Notes (or portion thereof) to be redeemed, as well as the aggregate principal
amount of Notes to be redeemed and the aggregate principal amount of Notes to be outstanding
after such partial redemption; and

     (8) the Section of the Notes or this Indenture, as applicable, pursuant to which the
Notes are to be redeemed.

     The notice, if mailed 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 by
mail 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. Except
as otherwise provided in this Article Three, notices of redemption may not be conditional.

     At the Issuers’ request, the Trustee shall give the notice of redemption in the name of the
Issuers and at its expense; provided that the Issuers shall have delivered to the Trustee, at least
five Business

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Days before notice of redemption is required to be mailed or caused to be mailed 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 mailed in accordance
with Section 3.03, Notes called for redemption become due and payable on the Redemption Date and at
the Redemption Price plus accrued interest, if any. Upon surrender to the Trustee or Paying Agent,
such Notes called for redemption shall be paid at the Redemption Price (which shall include accrued
interest thereon to, but not including, the Redemption Date), but installments of interest, the
maturity of which is on or prior to the Redemption Date, shall be payable to Holders of record at
the close of business on the relevant Record Dates. On and after the Redemption Date interest
shall cease to accrue on Notes or portions thereof called for redemption and the only right of the
Holders of such Notes will be to receive payment of the Redemption Price unless the Issuers shall
have not complied with its obligations pursuant to Section 3.05.

     SECTION 3.05. Deposit of Redemption Price. On or before 12:00 p.m. New York City time (or such
later time as has been agreed to by the Paying Agent) on the Redemption Date, the Issuers shall
deposit with the Paying Agent U.S. Legal Tender sufficient to pay the Redemption Price plus accrued
and unpaid interest, if any, of all Notes to be redeemed on that date. The Paying Agent shall
promptly return to the Issuers any money deposited with the Paying Agent by the Issuers in excess
of the amounts necessary to pay the Redemption Price of, and accrued and unpaid interest on, all
Notes to be redeemed or purchased.

     If the Issuers comply with the preceding paragraph, then, unless the Issuers default in the
payment of such Redemption Price plus accrued interest, if any, interest on the Notes to be
redeemed will cease to accrue on and after the applicable Redemption Date, whether or not such
Notes are presented for payment.

     SECTION 3.06. Notes Redeemed in Part. If any Note is to be redeemed in part only, the notice of
redemption that relates to such Note shall state the portion of the principal amount thereof to be
redeemed. A new Note or Notes in principal amount equal to the unredeemed portion of the original
Note or Notes shall be issued in the name of the Holder thereof upon surrender and cancellation of
the original Note or Notes. 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. Mandatory Redemption. The Issuers will not be required to make any mandatory
redemption or sinking fund payments with respect to the Notes.

ARTICLE FOUR

Covenants

     SECTION 4.01. Payment of Notes. The Issuers shall pay the principal of, premium, if any, and
interest on the Notes in the manner provided in the Notes, the Registration Rights Agreement and
this Indenture. An installment of principal of, or interest on, the Notes shall be considered paid
on the date it is due if the Trustee or Paying Agent (other than the Issuers or an Affiliate
thereof) holds no later than 12:00 p.m. (New York City time) on that date U.S. Legal Tender
designated for and sufficient to pay the installment. Interest on the Notes will be computed on
the basis of a 360-day year comprised of twelve 30-day months.

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     The Issuers shall pay interest on overdue principal (including post-petition interest in a
proceeding under any Bankruptcy Law), and overdue interest, to the extent lawful, at the same rate
per annum borne by the Notes.

     SECTION 4.02. Maintenance of Office or Agency. The Issuers shall maintain in the United States of
America, the office or agency required under Section 2.03 (which may be an office of the Trustee or
an affiliate of the Trustee or Registrar). The Issuers 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 Issuers shall fail to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations and surrenders may be made at the address of
the Corporate Trust Office.

     The Issuers 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. The Issuers 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 Issuers hereby initially designate the Corporate Trust Office of the Trustee, as such
office of the Issuers in accordance with Section 2.03.

     SECTION 4.03. Corporate Existence. Except as otherwise permitted by Article Five, the Parent and
the Issuers shall do or cause to be done all things necessary to preserve and keep in full force
and effect their corporate, partnership or other existence, as applicable, and the corporate,
partnership or other existence, as applicable, of each of the Restricted Subsidiaries of the Parent
in accordance with the respective organizational documents of each such Restricted Subsidiary and
the related material rights (charter and statutory) of the Parent, the Issuers and each Restricted
Subsidiary of the Parent; provided, however, that the Parent and the Issuers shall not be required
to preserve any such right or corporate existence with respect to themselves or any Restricted
Subsidiary if the Board of Directors of the Parent or any Officer of the Parent shall determine
that the preservation thereof is no longer necessary or desirable in the conduct of the business of
the Parent, the Issuers and their Restricted Subsidiaries, taken as a whole, and that the loss
thereof could not reasonably be expected to have a material adverse effect on the ability of the
Issuers to perform their obligations hereunder and provided, further, however, that the foregoing
shall not prohibit a sale, transfer, conveyance, lease or disposal of a Restricted Subsidiary or
any of the Parent’s or any Restricted Subsidiary’s assets in compliance with the terms of this
Indenture.

     SECTION 4.04. [Reserved]

     SECTION 4.05. Compliance Certificate; Notice of Default.

     (a) The Issuers shall deliver to the Trustee, within 120 days after each December 31,
commencing with December 31, 2011, an Officer’s Certificate signed by the principal executive
officer, principal financial officer, principal operating officer or principal accounting officer
of the Issuers stating that a review of the activities of the Issuers and their Restricted
Subsidiaries has been made under the supervision of the signing Officer with a view to determining
whether the Issuers and their Restricted Subsidiaries have kept, observed, performed and fulfilled
their obligations under this Indenture and further stating, as to each such Officer signing such
certificate, that, to the best of such Officer’s knowledge, the Issuers and their Restricted
Subsidiaries during such preceding fiscal year have kept, observed, performed and fulfilled each
and every such covenant and no Default occurred during such year and at the date of such
certificate there is no Default that has occurred and is continuing or, if such signers do know of
such Default, the certificate shall specify such Default and what action, if any, the Issuers are
taking or propose to take with respect thereto.

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     (b) The Issuers shall deliver to the Trustee within 30 days after the Issuers become aware
(unless such Default has been cured before the end of the 30-day period) of the occurrence of any
Default an Officer’s Certificate specifying the Default and what action, if any, the Issuers are
taking or propose to take with respect thereto.

     SECTION 4.06. Waiver of Stay, Extension or Usury Laws. The Issuers and each Guarantor covenants (to
the extent permitted by applicable law) that it shall not at any time insist upon, plead, or in any
manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury
law or other law that would prohibit or forgive such Issuer or such Guarantor from paying all or
any portion of the principal of and/or interest on the Notes or the Guarantee of any such Guarantor
as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may
affect the covenants or the performance of this Indenture, and (to the extent permitted by
applicable law) each hereby expressly waives all benefit or advantage of any such law, and
covenants that it shall not hinder, delay or impede the execution of any power herein granted to
the Trustee, but will suffer and permit the execution of every such power as though no such law had
been enacted.

     SECTION 4.07. Change of Control.

     (a) If a Change of Control occurs, each holder of Notes will have the right to require the
Issuers to purchase some or all (in principal amounts of $2,000 or an integral multiple of $1,000)
of such holder’s Notes pursuant to the offer described below (the “Change of Control
Offer”).

     (b) Any Change of Control Offer will include a cash offer price of 101% of the principal
amount of any Notes purchased plus accrued and unpaid interest to the date of purchase (the
“Change of Control Payment”). If a Change of Control Offer is required, within ten Business
Days following a Change of Control, the Issuers will mail a notice to each Holder (with a copy to
the Trustee) describing the Change of Control and offering to repurchase Notes on a specified date
(the “Change of Control Payment Date”). The Change of Control Payment Date will be no
earlier than 30 days and no later than 60 days from the date the notice is mailed.

     (c) On the Change of Control Payment Date, the Issuers will, to the extent lawful:

     (1) accept for payment all Notes properly tendered and not withdrawn pursuant to the
Change of Control Offer;

     (2) deposit the Change of Control Payment with the paying agent in respect of all Notes
so accepted; and

     (3) deliver to the Trustee the Notes accepted and an Officer’s Certificate stating the
aggregate principal amount of all Notes purchased by the Issuers.

     (d) The Paying Agent will promptly mail to each Holder of Notes properly tendered the Change
of Control Payment for such Notes, and the Trustee will promptly authenticate and mail, or cause to
be transferred by book entry, to each holder a new Note in principal amount equal to any
unpurchased portion of the Notes surrendered.

     (e) The Issuers will comply with the requirements of Section 14(e) of the Exchange Act and any
other securities laws or regulations to the extent those laws and regulations are applicable to any
Change of Control Offer. If the provisions of any of the applicable securities laws or securities
regulations conflict with the provisions of this Section 4.07, the Issuers will comply with the
applicable securities

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laws and regulations and will not be deemed to have breached its obligations under the
covenant described above by virtue of that compliance.

     (f) The Issuers shall not be required to make a Change of Control Offer upon a Change of
Control if a third party makes the Change of Control Offer in the manner, at the times and
otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of
Control Offer made by the Issuers and purchases all Notes validly tendered and not withdrawn under
such Change of Control Offer or if notice of redemption has been given pursuant to Section 5 or 6
of the Notes. Notwithstanding anything to the contrary contained herein, a Change of Control Offer
may be made in advance of a Change of Control, subject to one or more conditions precedent,
including, but not limited to, the consummation of such Change of Control, if a definitive
agreement is in place for the Change of Control at the time the Offer to Purchase is made.

     SECTION 4.08. Limitation on Indebtedness.

     (a) The Issuers shall not and shall not permit any of the Restricted Subsidiaries to Incur any
Indebtedness (including Acquired Indebtedness) if, immediately after giving effect to the
Incurrence of such additional Indebtedness and the receipt and application of the proceeds
therefrom, the aggregate principal amount of all outstanding Indebtedness of the Issuers and the
Restricted Subsidiaries on a consolidated basis would be greater than 60% of their Adjusted Total
Assets.

     (b) The Issuers shall not, and shall not permit any of the Restricted Subsidiaries to, Incur
any Secured Indebtedness (including Acquired Indebtedness) if, immediately after giving effect to
the Incurrence of such additional Secured Indebtedness and the receipt and application of the
proceeds therefrom, the aggregate principal amount of all outstanding Secured Indebtedness of the
Issuers and the Restricted Subsidiaries on a consolidated basis would be greater than 40% of their
Adjusted Total Assets.

     (c) The Issuers shall not and shall not permit any of the Restricted Subsidiaries to Incur any
Indebtedness (including Acquired Indebtedness); provided, however, that the Issuers or any of the
Restricted Subsidiaries may Incur Indebtedness (including Acquired Indebtedness) if, after giving
effect to the Incurrence of such Indebtedness and the receipt and application of the proceeds
therefrom, the Interest Coverage Ratio of the Issuers and the Restricted Subsidiaries on a
consolidated basis would be at least 2.0 to 1.0; provided that the amount of Indebtedness
(including Acquired Indebtedness) that may be Incurred by Restricted Subsidiaries that are not
Guarantors shall not exceed in the aggregate 5% of Adjusted Total Assets of the Issuers and the
Restricted Subsidiaries.

     (d) Notwithstanding paragraph (a), (b) or (c) above, the Issuers or any of the Restricted
Subsidiaries (except as specified below) may Incur each and all of the following:

     (1) Indebtedness of the Issuers or any of the Restricted Subsidiaries outstanding under
any Credit Facility at any time in an aggregate principal amount not to exceed the greater
of (x) $400,000,000 and (y) 30% of Adjusted Total Assets of the Issuers and the Restricted
Subsidiaries;

     (2) Indebtedness of the Issuers or any of the Restricted Subsidiaries owed to:

     (i) the Issuers evidenced by an unsubordinated promissory note, or

     (ii) any Restricted Subsidiary;

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provided, however, that any event that results in any such Restricted Subsidiary ceasing to
be a Restricted Subsidiary of the Issuers or any subsequent transfer of such Indebtedness
(other than to the Issuers or any other Restricted Subsidiary of the Issuers) shall be
deemed, in each case, to constitute an Incurrence of such Indebtedness not permitted by this
clause (2);

     (3) Indebtedness of the Issuers or any of their Restricted Subsidiaries under Currency
Agreements and Interest Rate Agreements; provided that such agreements (x) are designed
solely to protect the Issuers or any of their Restricted Subsidiaries against fluctuations
in foreign currency exchange rates or interest rates (whether fluctuations of fixed to
floating rate interest or floating to fixed rate interest) and (y) do not increase the
Indebtedness of the obligor outstanding at any time other than as a result of fluctuations
in foreign currency exchange rates or interest rates or by reason of fees, indemnities and
compensation payable thereunder;

     (4) Indebtedness of the Issuers or any of the Subsidiary Guarantors, to the extent the
net proceeds thereof are promptly:

     (i) used to purchase Notes tendered in a Change of Control Offer made as a
result of a Change of Control,

     (ii) used to redeem all the Notes pursuant to Section 5 of the Notes,

     (iii) deposited to defease the Notes as described in Sections 8.02 and 8.03, or

     (iv) deposited to discharge the obligations under the Notes and this Indenture
as described in Section 8.01;

     (5) (i) Guarantees of Indebtedness of the Issuers by any of the Subsidiary Guarantors;
provided the guarantee of such Indebtedness is permitted by and made in accordance with
Section 4.14, and (ii) Guarantees by a Subsidiary Guarantor of any Indebtedness of any other
Subsidiary Guarantor;

     (6) Indebtedness outstanding on the Issue Date (other than pursuant to clause (1) or
(7));

     (7) Indebtedness represented by the Notes and the Guarantees issued on the Issue Date
and any notes issued in exchange for the Notes (including any Guarantees thereof) pursuant
to the Registration Rights Agreement;

     (8) Indebtedness consisting of obligations to pay insurance premiums incurred in the
ordinary course of business;

     (9) Indebtedness in respect of any bankers’ acceptance, bank guarantees, letter of
credit, warehouse receipt or similar facilities, and reinvestment obligations related
thereto, entered into in the ordinary course of business;

     (10) Indebtedness in respect of workers’ compensation claims, self-insurance
obligations, indemnities, bankers’ acceptances, performance, completion and surety bonds or
guarantees and similar types of obligations in the ordinary course of business;

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     (11) Indebtedness represented by cash management obligations and other obligations in
respect of netting services, automatic clearinghouse arrangements, overdraft protections and
similar arrangements in each case in connection with deposit accounts;

     (12) Indebtedness supported by a letter of credit procured by the Issuers or their
Restricted Subsidiaries in a principal amount not in excess of the stated amount of such
letter of credit and where the underlying Indebtedness would otherwise be permitted;

     (13) Permitted Refinancing Indebtedness incurred in exchange for, or the net proceeds
of which are used to refund, refinance or replace, Indebtedness (other than intercompany
Indebtedness) that was permitted by this Indenture to be incurred under the provisions of
Sections 4.08(a), (b) and (c) or clauses (6), (7), (13) or (15) of this Section 4.08(d);

     (14) Indebtedness (including Capitalized Lease Obligations) Incurred by the Issuers or
any Restricted Subsidiary within 270 days of the related purchase, lease or improvement, to
finance the purchase, lease or improvement of property (real or personal) or equipment used
in the business of the Issuers or any Restricted Subsidiary, whether through the direct
purchase of assets or the Capital Stock of any Person owning such assets in an aggregate
principal amount not to exceed at any one time outstanding the greater of (x) $25,000,000
and (y) 2% of Adjusted Total Assets at any time outstanding; or

     (15) additional Indebtedness of the Issuers and their Restricted Subsidiaries in
aggregate principal amount at any time outstanding not to exceed the greater of $50,000,000
and 4.0% of the Issuers’ and their Restricted Subsidiaries’ Adjusted Total Assets; provided,
however, that any Permitted Refinancing Indebtedness incurred under clause (13) above in
respect of such Indebtedness shall be deemed to have been incurred under this clause (15)
for purposes of determining the amount of Indebtedness that may at any time be incurred
under this clause (15).

     (e) Notwithstanding any other provision of this Section 4.08, the maximum amount of
Indebtedness that the Parent, the Issuers or any of the Restricted Subsidiaries may Incur pursuant
to this Section 4.08 shall not be deemed to be exceeded, with respect to any outstanding
Indebtedness, due solely to the result of fluctuations in the exchange rates of currencies.

     (f) For purposes of determining any particular amount of Indebtedness under this Section 4.08,

     (1) Indebtedness Incurred and outstanding under the Credit Agreement on or prior to the
Issue Date shall be treated as Incurred pursuant to clause (1) of paragraph (d) of this
Section 4.08, and

     (2) Guarantees, Liens or obligations with respect to letters of credit supporting
Indebtedness otherwise included in the determination of such particular amount shall not be
included.

     For purposes of determining compliance with this Section 4.08, in the event that an item of
Indebtedness meets the criteria of more than one of the categories of permitted Indebtedness
described in clauses (1) through (15) of paragraph (d) above or is entitled to be incurred pursuant
to paragraphs (a), (b) and (c) above, the Issuers shall, in their sole discretion, be entitled to
classify all or a portion of such item of Indebtedness on the date of its incurrence or issuance
and determine the order of such incurrence or issuance (and may later reclassify such item of
Indebtedness) and may divide and classify such Indebtedness in more than one of the types of
Indebtedness described. At any time that the Issuers or the

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Restricted Subsidiaries would be entitled to have incurred any then outstanding Indebtedness
under paragraphs (a), (b) and (c) of this Section 4.08, such Indebtedness shall be automatically
reclassified into Indebtedness incurred pursuant to those paragraphs. Notwithstanding the
foregoing, any Indebtedness Incurred and outstanding under the Credit Agreement on or prior to the
Issue Date shall be deemed to have been incurred under clause (1) of paragraph (d) above and may
not be reclassified. Indebtedness permitted by this Section 4.08 need not be permitted solely by
reference to one provision permitting such Indebtedness, but may be permitted in part by one such
provision and in part by one or more other provisions of this Section 4.08 permitting such
Indebtedness. For the avoidance of doubt, the outstanding principal amount of any particular
Indebtedness shall be counted only once and any obligations arising under any guarantee, Lien,
letter of credit or similar instrument supporting such Indebtedness shall not be double-counted.

     For purposes of determining compliance with any U.S. dollar-denominated restriction on the
incurrence of Indebtedness, the U.S. dollar equivalent principal amount of Indebtedness denominated
in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on
the date such Indebtedness was incurred, in the case of term debt, or first committed, in the case
of revolving credit debt; provided, however, 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, plus the amount of any reasonable premium (including reasonable tender premiums),
defeasance costs and any reasonable fees and expenses incurred in connection with the issuance of
such new Indebtedness. The principal amount of any Indebtedness incurred to refinance other
Indebtedness, if incurred in a different currency from the Indebtedness being refinanced, shall be
calculated based on the currency exchange rate applicable to the currencies in which such
respective Indebtedness is denominated that is in effect on the date of such refinancing.

     SECTION 4.09. Limitation on Restricted Payments.

     (a) Opco shall not, and shall not permit any of its Restricted Subsidiaries to, directly or
indirectly:

     (1) declare or pay any dividend or make any distribution on or with respect to Capital
Stock of Opco or any Restricted Subsidiary held by Persons other than Opco or any of its
Restricted Subsidiaries, other than (i) dividends or distributions payable solely in shares
of its Capital Stock (other than Disqualified Stock) or in options, warrants or other rights
to acquire shares of such Capital Stock and (ii) pro rata dividends or other distributions
made by a Restricted Subsidiary of Opco that is not Wholly Owned to minority stockholders
(or owners of equivalent interests in the event such Subsidiary is not a corporation);

     (2) purchase, redeem, retire or otherwise acquire for value any shares of Capital Stock
(including options, warrants or other rights to acquire such shares of Capital Stock) of
Opco or any of its direct or indirect parent entities held by any Person (other than a
Restricted Subsidiary);

     (3) make any voluntary or optional principal payment, or voluntary or optional
redemption, repurchase, defeasance, or other acquisition or retirement for value, or give
any irrevocable notice of redemption of Subordinated Indebtedness of the Issuers or any
Subsidiary Guarantor, in each case excluding (i) any intercompany Indebtedness between or
among the Parent, the Issuers or any of the Subsidiary Guarantors; (ii) the payment,
purchase, redemption, defeasance,

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acquisition or retirement (collectively, a “purchase”) of Subordinated
Indebtedness purchased in anticipation of satisfying a sinking fund obligation, principal
installment or final maturity, in each case due within one year of the date of such payment,
purchase, redemption, defeasance, acquisition or retirement; and (iii) the giving of an
irrevocable notice of redemption with respect to a transaction described in clauses (3) or
(5) of Section 4.09(b); or

     (4) make an Investment, other than a Permitted Investment, in any Person,

(such payments or any other actions described in clauses (1) through (4) above being collectively
“Restricted Payments”) if, at the time of, and after giving effect to, the proposed
Restricted Payment:

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

     (B) the Issuers could not Incur at least $1.00 of Indebtedness under paragraphs (a) and
(c) of Section 4.08, or

     (C) the aggregate amount of all Restricted Payments (the amount, if other than in cash,
to be determined in good faith by the Board of Directors of the Issuers, whose determination
shall be conclusive and evidenced by a Board Resolution) made after the Issue Date shall
exceed the sum of, without duplication:

     (i) 95% of the aggregate amount of the Funds From Operations (or, if the Funds
From Operations is a loss, minus 100% of the amount of such loss) accrued on a
cumulative basis during the period (taken as one accounting period) beginning April
1, 2011 and ending on the last day of the last fiscal quarter preceding the
Transaction Date for which reports have been filed with the SEC or provided to the
Trustee pursuant to Section 4.15, plus

     (ii) 100% of the aggregate Net Cash Proceeds received by the Issuers after the
Issue Date from (x) the issuance and sale of Opco’s Capital Stock (other than
Disqualified Stock) or (y) the issuance and sale of Parent’s Capital Stock (to the
extent contributed to Opco as Capital Stock (other than Disqualified Stock)) to a
Person who is not a Subsidiary of the Parent, including from an issuance or sale
permitted by this Indenture of Indebtedness of the Issuers or any of its Restricted
Subsidiaries for cash subsequent to the Issue Date upon the conversion of such
Indebtedness into Capital Stock (other than Disqualified Stock) of Opco or Parent,
or from the issuance to a Person who is not a Subsidiary of the Parent of any
options, warrants or other rights to acquire Capital Stock of Opco or Parent (in
each case, exclusive of any Disqualified Stock or any options, warrants or other
rights that are redeemable at the option of the holder for cash or Indebtedness, or
are required to be redeemed, prior to the Stated Maturity of the Notes), plus

     (iii) 100% of (x) the aggregate net cash proceeds and (y) the fair market value
of other property, in any such case, received by means of the sale or other
disposition (other than to the Issuers or a Restricted Subsidiary) of Restricted
Investments made by the Issuers or a Restricted Subsidiary and repurchases and
redemptions of such Restricted Investments from the Issuers or a Restricted
Subsidiary (other than by the Issuers or a Restricted Subsidiary) and repayments of
loans or advances that constitute Restricted Investments made by the Issuers or a
Restricted Subsidiary, in each case after the Issue Date (except, in each case, to
the extent any such payment or proceeds are included in the calculation of Funds
From Operations), plus

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     (iv) in the case of the redesignation of an Unrestricted Subsidiary as a
Restricted Subsidiary or the merger, amalgamation or consolidation of an
Unrestricted Subsidiary into one of the Issuers or a Restricted Subsidiary or the
transfer of all or substantially all of the assets of an Unrestricted Subsidiary to
one of the Issuers or a Restricted Subsidiary after the Issue Date, the fair market
value, as determined in good faith by the Issuers or if such fair market value may
exceed $50.0 million, in writing by a nationally recognized investment banking,
appraisal or accounting firm, of the Investment in such Unrestricted Subsidiary or
the assets transferred at the time of the redesignation of such Unrestricted
Subsidiary as a Restricted Subsidiary or at the time of such merger, amalgamation,
consolidation or transfer of assets (other than to the extent the Investment in such
Unrestricted Subsidiary constituted a Permitted Investment), plus

     (v) the fair market value of non-cash tangible assets or Capital Stock acquired
in exchange for an issuance of Capital Stock (other than Disqualified Stock or
Capital Stock issued in exchange for Capital Stock of the Issuers or the Parent
utilized pursuant to clauses (3) or (4) of Section 4.09(b)) of Opco or, to the
extent contributed to Opco or one or more Restricted Subsidiaries, the Parent, in
each case, subsequent to the Issue Date (including upon conversion or exchange of
the Common Units for Capital Stock of the Parent, in which case the fair market
value shall equal the fair market value received upon issuance of such Common
Units), plus

     (vi) without duplication, in the event the Issuers or any Restricted Subsidiary
makes any Investment in a Person that, as a result of or in connection with such
Investment, becomes a Restricted Subsidiary, an amount not to exceed the amount of
Investments previously made by the Issuers and the Restricted Subsidiaries in such
Person that was treated as a Restricted Payment.

     (b) Notwithstanding Section 4.09(a), the limitations on Restricted Payments described above
shall not apply to the following:

     (1) any distribution or other action which is necessary to maintain the Parent’s status
as a REIT under the Code, if the aggregate principal amount of outstanding Indebtedness of
the Issuers and the Restricted Subsidiaries on a consolidated basis determined in accordance
with GAAP is less than 60% of Adjusted Total Assets as of the end of the fiscal quarter
covered in the Parent’s annual or quarterly report most recently furnished to holders of the
Notes or filed with the SEC, as the case may be;

     (2) 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 a
redemption notice related thereto, as the case may be, if, at said date of declaration or
notice, such payment would comply with Section 4.09(a);

     (3) the payment, redemption, repurchase, defeasance or other acquisition or retirement
for value of Subordinated Indebtedness, including premium, if any, and accrued and unpaid
interest, with the proceeds of, or in exchange for, Indebtedness Incurred under Sections
4.08(a), (b) or (c) or Section 4.08(d)(13);

     (4) (a) the making of any Restricted Payment in exchange for, or out of the proceeds of
the substantially concurrent sale of, Capital Stock of Opco or the Parent (other than any
Disqualified Stock or any Capital Stock sold to an Issuer or a Restricted Subsidiary or to
an employee stock ownership plan or any trust established by the Parent or any of its
Subsidiaries) or from

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substantially concurrent contributions to the equity capital of Opco
(collectively, including any such contributions, “Refunding Capital Stock”) (with
any offering within 90 days deemed as substantially concurrent); and (b) the declaration and
payment of accrued dividends on any Capital Stock redeemed, repurchased, retired, defeased
or acquired out of the proceeds of the sale of Refunding Capital Stock within 90 days of
such sale; provided that the amount of any such proceeds or contributions that are utilized
for any Restricted Payment pursuant to this clause (4) shall be excluded from the amount
described in Section 4.09(a)(4)(C)(ii);

     (5) the payment, redemption, repurchase, defeasance or other acquisition or retirement
for value of Subordinated Indebtedness, including premium, if any, and accrued and unpaid
interest with the proceeds of, or in exchange for, an issuance of, shares of Capital Stock
of the Parent or Opco (or options, warrants or other rights to acquire such Capital Stock)
that occurs within 90 days of such payment, redemption, repurchase, defeasance or other
acquisition or retirement for value; provided, that the amount of any such proceeds or
contributions that are utilized for any Restricted Payments pursuant to this clause (5)
shall be excluded from the amount described in Section 4.09(a)(4)(C)(ii);

     (6) (x) the distribution or dividend to Parent, the proceeds of which are used to
repurchase, redeem or otherwise acquire or retire for value any shares of Capital Stock of
the Parent held by any of the Parent’s or Medical Property Trust LLC’s Subsidiaries and (y)
the repurchase, redemption or other acquisition or retirement for value of any shares of
Capital Stock of Opco or any Restricted Subsidiary in each case held by any of the Parent’s
or an Issuer’s or any Restricted Subsidiaries’ current or former officers, directors,
consultants or employees (or any permitted transferees, assigns, estates or heirs of any of
the foregoing); provided, however, the aggregate amount distributed or dividended to Parent
and paid by the Issuers and the Restricted Subsidiaries pursuant to this clause (6) shall
not exceed $5,000,000 in any calendar year (excluding for purposes of calculating such
amount the amount paid for Capital Stock repurchased, redeemed, acquired or retired with the
cash proceeds from the repayment of outstanding loans previously made by the Parent, an
Issuer or a Restricted Subsidiary thereof for the purpose of financing the acquisition of
such Capital Stock), with unused amounts in any calendar year being carried over to the next
two succeeding calendar years; provided further, that such amount in any calendar year may
be increased by an amount not to exceed (A) the Net Cash Proceeds from the sale of Capital
Stock (other than Disqualified Stock) of Opco or Parent to the extent contributed to Opco or
any of its Restricted Subsidiaries to members of management, directors or consultants of the
Parent, Opco or any of the Restricted Subsidiaries that occurs after the Issue Date, to the
extent such proceeds (i) have not otherwise been and are not thereafter applied to the
payment of any other Restricted Payment or (ii) are not attributable to loans made by the
Parent, an Issuer or a Restricted Subsidiary thereof for the purpose of financing the
acquisition of such Capital Stock, plus (B) the cash proceeds of key man life insurance
policies received by the Issuers and their Restricted Subsidiaries after the Issue Date,
less (C) the amount of any Restricted Payments previously made pursuant to clauses (A) and
(B) of this clause (6); provided further, however, that cancellation of Indebtedness owing
to an Issuer or any of its Restricted Subsidiaries from current or former officers,
directors, consultants or employees (or any permitted transferees, assigns, estates or heirs
of any of the foregoing) of the Parent, an Issuer or any Restricted Subsidiary thereof in
connection with a repurchase of Capital Stock of the Parent, the Issuers or any Restricted
Subsidiary shall not be deemed to constitute a Restricted Payment for purposes of this
Indenture;

     (7) (x) distributions or dividends to Parent, the proceeds of which are used and (y)
payments made or expected to be made by the Issuers or any Restricted Subsidiary, in each
case, in respect of withholding or similar taxes payable upon exercise of Capital Stock by
any

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future, present or former employee, director, officer, manager or consultant (or any permitted
transferees, assigns, estates or heirs of any of the foregoing) and any repurchases of
Capital Stock deemed to occur upon exercise of stock options or warrants if such Capital
Stock represents a portion of the exercise price of such options or warrants or required
withholding or similar taxes and cashless repurchases of Capital Stock deemed to occur upon
exercise of stock options or warrants if such Capital Stock represent a portion of the
exercise price of such options or warrants;

     (8) the repurchase, redemption or other acquisition or retirement for value of any
Subordinated Indebtedness pursuant to the provisions similar to those described under
Sections 4.07 and 4.11; provided that all Notes validly tendered by holders of Notes in
connection with a Change of Control Offer or Asset Sale Offer, as applicable, have been
repurchased, redeemed, acquired or retired for value;

     (9) Permitted Payments to Parent;

     (10) any distribution or dividend to Parent, the proceeds of which are used for the
payment of cash in lieu of the issuance of fractional shares of Capital Stock upon exercise
or conversion of securities exercisable or convertible into Capital Stock of the Parent and
the payment of cash in lieu of the issuance of fractional shares of Capital Stock upon
exercise or conversion of securities exercisable or convertible into Capital Stock of Opco;
or

     (11) additional Restricted Payments in an aggregate amount not to exceed $100,000,000;

provided, however, that, except in the case of clauses (1), (2) and (3), no Default or Event of
Default shall have occurred and be continuing or occur as a direct consequence of the actions or
payments set forth therein.

     (c) The net amount of any Restricted Payment permitted pursuant to Section 4.09(b)(1) and (2)
(adjusted to avoid double counting) shall be included in calculating whether the conditions of
Section 4.09(a)(4)(C) have been met with respect to any subsequent Restricted Payments. The net
amount of any Restricted Payment permitted pursuant to clauses (3) through (11) of the immediately
preceding paragraph shall be excluded in calculating whether the conditions of Section
4.09(a)(4)(C) have been met with respect to any subsequent Restricted Payments. The amount of all
Restricted Payments (other than cash) shall be the fair market value on the date of the Restricted
Payment of the asset(s) or securities proposed to be transferred or issued to or by the Issuers or
such Restricted Subsidiary, as the case may be, pursuant to the Restricted Payment.

     SECTION 4.10. Maintenance of Total Unencumbered Assets. The Issuers and their Restricted
Subsidiaries shall maintain Total Unencumbered Assets of not less than 150% of the aggregate
outstanding principal amount of the Unsecured Indebtedness of the Issuers and their Restricted
Subsidiaries on a consolidated basis in accordance with GAAP.

     SECTION 4.11. Limitation on Asset Sales.

     (a) The Issuers shall not, and shall not permit any of their Restricted Subsidiaries to,
consummate any Asset Sale, unless:

     (1) the consideration received by the Issuers or such Restricted Subsidiary is at least
equal to the fair market value of the assets sold or disposed of; and

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     (2) at least 75% of the consideration received consists of cash, Temporary Cash
Investments or Replacement Assets, or a combination of cash, Temporary Cash Investments or
Replacement Assets; provided, however, with respect to the sale of one or more properties
that up to 75% of the consideration may consist of Indebtedness of the purchaser of such
properties so long as such Indebtedness is secured by a first priority Lien on the property
or properties sold.

     (b) For purposes of this Section 4.11, each of the following shall be deemed to be cash:

     (1) any liabilities of the Issuers or any Restricted Subsidiary (as shown on the most
recent consolidated balance sheet of the Issuers and their Restricted Subsidiaries other
than contingent liabilities and liabilities that are by their terms subordinated to the
Notes or any Guarantee) that are assumed by the transferee of any such assets pursuant to an
agreement that releases the Issuers or any such Restricted Subsidiary from further liability
with respect to such liabilities or that are assumed by contract or operation of law;

     (2) any securities, notes or other obligations received by an Issuer or any such
Restricted Subsidiary from such transferee that are converted by the Issuers or such
Restricted Subsidiary into cash or Temporary Cash Investments within 180 days (to the extent
of the cash or Temporary Cash Investments received in that conversion); and

     (3) any Designated Non-Cash Consideration received by the Issuers or any such
Restricted Subsidiary in such Asset Sale having an aggregate fair market value, taken
together with all other Designated Non-Cash Consideration received pursuant to this clause
(3) that is at the time outstanding, not to exceed the greater of (x) $25,000,000 and (y)
2.0% of the Issuers’ Adjusted Total Assets at the time of the receipt of such Designated
Non-Cash Consideration, with the fair market value of each item of Designated Non-Cash
Consideration being measured at the time received and without giving effect to subsequent
changes in value.

     (c) Within 365 days after the receipt of any Net Cash Proceeds from an Asset Sale, the Issuers
or any such Restricted Subsidiary may apply such Net Cash Proceeds:

     (1) to prepay, repay, redeem or purchase Pari Passu Indebtedness of the Issuers or a
Subsidiary Guarantor that is Secured Indebtedness (in each case other than Indebtedness owed
to the Issuers or an Affiliate of the Issuers);

     (2) to make an Investment in (provided such Investment is in the form of Capital
Stock), or to acquire all or substantially all of the assets of, a Person engaged in a
Permitted Business if such Person is, or will become as a result thereof, a Restricted
Subsidiary;

     (3) to prepay, repay, redeem or purchase (x) Pari Passu Indebtedness of an Issuer or of
any Subsidiary Guarantor or any Indebtedness of a Restricted Subsidiary that is not a
Subsidiary Guarantor; provided, however, that if the Issuers or a Guarantor shall so prepay,
repay, redeem or purchase any such Pari Passu Indebtedness, the Issuers shall equally and
ratably reduce obligations under the Notes if the Notes are then prepayable or, if the Notes
may not then be prepaid, the Issuers shall make an offer (in accordance with the procedures
set forth below) with the ratable proceeds to all Holders to purchase their Notes at 100% of
the principal amount thereof, plus accrued but unpaid interest, if any, thereon, up to the
principal amount of Notes that would otherwise be prepaid, or (y) any Indebtedness of a
Restricted Subsidiary that is not a Subsidiary Guarantor;

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     (4) to fund all or a portion of an optional redemption of the Notes pursuant to Section
5 of the Notes;

     (5) to make a capital expenditure;

     (6) to acquire Replacement Assets to be used or that are useful in a Permitted
Business; or

     (7) any combination of the foregoing;

provided that the Issuers shall be deemed to have complied with the provisions described in clauses
(2), (5) and (6) of this paragraph if and to the extent that, within 365 days after the Asset Sale
that generated the Net Cash Proceeds, the Issuers or any of the Restricted Subsidiaries has entered
into and not abandoned or rejected a binding agreement to acquire the assets or Capital Stock of a
Permitted Business, acquire Replacement Assets or make a capital expenditure in compliance with the
provisions described in clauses (2), (5) and (6) of this paragraph (each an “Acceptable
Commitments”), and that Acceptable Commitment (or a replacement commitment should the
Acceptable Commitment be subsequently cancelled or terminated for any reason) is thereafter
completed within 180 days after the end of such 365-day period. Pending the final application of
any such Net Cash Proceeds, the Issuers may temporarily reduce the revolving Indebtedness under any
Credit Facility or otherwise invest such Net Cash Proceeds in any manner that is not prohibited by
this Indenture. The amount of such excess Net Cash Proceeds required to be applied (or to be
committed to be applied) during such 365-day period as set forth in this paragraph (c) and not so
applied by the end of such period shall constitute “Excess Proceeds.”

     (d) When the aggregate amount of Excess Proceeds exceeds $20,000,000, the Issuers shall make
an offer to all holders of the Notes and, if required by the terms of any Indebtedness that is Pari
Passu Indebtedness, to the holders of such Pari Passu Indebtedness on a pro rata basis (an
“Asset Sale Offer”), to purchase the maximum aggregate principal amount of the Notes and
such Pari Passu Indebtedness that is in an amount equal to at least $2,000, that may be purchased
out of the Excess Proceeds at an offer price in cash in an amount equal to 100.0% of the principal
amount thereof (or accreted value thereof, if less), plus accrued and unpaid interest, if any, to
the date fixed for the closing of such offer, in accordance with the procedures set forth in this
Indenture. The Issuers will commence an Asset Sale Offer with respect to Excess Proceeds within ten
Business Days after the date that Excess Proceeds exceed $20,000,000 by delivering the notice
required pursuant to the terms of this Indenture, with a copy to the Trustee. The Issuers may
satisfy the foregoing obligations with respect to any Excess Proceeds from an Asset Sale by making
an Asset Sale Offer with respect to such Excess Proceeds prior to the expiration of the relevant
365 days or with respect to Excess Proceeds of $20,000,000 or less.

     (e) To the extent that the aggregate amount of Notes and such Pari Passu Indebtedness tendered
pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Issuers and the Restricted
Subsidiaries may use any remaining Excess Proceeds for any purpose not prohibited by this
Indenture. If the aggregate principal amount of Notes or the Pari Passu Indebtedness surrendered
by such holders thereof exceeds the amount of Excess Proceeds, the Trustee shall select the Notes
and the Issuers shall select such Pari Passu Indebtedness to be purchased on a pro rata basis based
on the accreted value or principal amount of the Notes or such Pari Passu Indebtedness tendered.
Upon completion of any such Asset Sale Offer, the amount of Excess Proceeds that resulted in the
Asset Sale Offer shall be reset to zero.

     (f) Pending the final application of any Net Cash Proceeds pursuant to this Section 4.11, the
holder of such Net Cash Proceeds may apply such Net Cash Proceeds temporarily to reduce
Indebtedness outstanding under a revolving credit facility or otherwise invest such Net Cash
Proceeds in any manner not prohibited by this Indenture.

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     (g) The Issuers will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent such laws or regulations are
applicable in connection with the repurchase of the Notes pursuant to an Asset Sale Offer. To the
extent that the provisions of any securities laws or regulations conflict with the provisions of
this Indenture, the Issuers will 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 4.12. Limitation on Transactions with Affiliates.

     (a) The Issuers shall not, and shall not permit any of the Restricted Subsidiaries to,
directly or indirectly, enter into, renew or extend any transaction (including the purchase, sale,
lease or exchange of property or assets, or the rendering of any service) with any Holder (or any
Affiliate of such Holder) of 10% or more of any class of Capital Stock of the Parent or with any
Affiliate of the Parent, an Issuer or any Restricted Subsidiary, in each case involving
consideration in excess of $5,000,000, except upon terms that are not materially less favorable to
the Issuers or such Restricted Subsidiary than could be obtained, at the time of such transaction
or, if such transaction is pursuant to a written agreement, at the time of the execution of the
agreement providing therefor, in a comparable arm’s-length transaction with a Person that is not
such a Holder or an Affiliate.

     (b) The limitation set forth in Section 4.12(a) does not limit, and shall not apply to:

     (1) transactions (A) approved by a majority of the disinterested directors of the Board
of Directors of the Parent or (B) for which the Parent or any Restricted Subsidiary delivers
to the Trustee a written opinion of a nationally recognized investment banking, appraisal or
accounting firm stating that the transaction is fair to the Parent or such Restricted
Subsidiary from a financial point of view;

     (2) any transaction solely between an Issuer and any of its Restricted Subsidiaries or
solely between Restricted Subsidiaries;

     (3) the payment of reasonable fees and compensation (including through the issuance of
Capital Stock) to, and indemnification and similar arrangements on behalf of, current,
former or future directors, officers, employees or consultants of Parent or any Restricted
Subsidiary of Parent;

     (4) the issuance or sale of Capital Stock (other than Disqualified Stock) of an Issuer;

     (5) any Restricted Payments not prohibited by Section 4.09 and Investments constituting
Permitted Investments;

     (6) any contracts, instruments or other agreements or arrangements in each case as in
effect on the date of this Indenture, and any transactions pursuant thereto or contemplated
thereby, or any amendment, modification or supplement thereto or any replacement thereof
entered into from time to time, as long as such agreement or arrangements as so amended,
modified, supplemented or replaced, taken as a whole, is not materially more disadvantageous
to the Issuers and the Restricted Subsidiaries at the time executed than the original
agreement or arrangements as in effect on the date of this Indenture;

     (7) any employment, consulting, service or termination agreement, or customary
indemnification arrangements, entered into by an Issuer or any Restricted Subsidiary with
current, former or future officers and employees of the Parent or an Issuer or such
Restricted Subsidiary

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and the payment of compensation to officers and employees of the Parent, an Issuer or
any Restricted Subsidiary (including amounts paid pursuant to employee benefit plans,
employee stock option or similar plans), in each case in the ordinary course of business;

     (8) loans and advances to officers and employees of the Parent, an Issuer or any
Restricted Subsidiary or guarantees in respect thereof (or cancellation of such loans,
advances or guarantees), for bona fide business purposes, including for reasonable moving
and relocation, entertainment and travel expenses and similar expenses, made in the ordinary
course of business;

     (9) transactions with a Person that is an Affiliate of the Parent or an Issuer solely
because the Parent or an Issuer, directly or indirectly, owns Capital Stock of, or controls
such Person;

     (10) any transaction with a Person who is not an Affiliate immediately before the
consummation of such transaction that becomes an Affiliate as a result of such transaction;
or

     (11) the entering into or amending of any tax sharing, allocation or similar agreement
and any payments thereunder.

     (c) Notwithstanding Section 4.12(a) and 4.12(b), any transaction or series of related
transactions covered by Section 4.12(a) and not covered by clauses (2) through (11) of Section
4.12(b):

     (i) the aggregate amount of which exceeds $10,000,000 in value shall be approved or
determined to be fair in the manner provided for in Section 4.12(b)(1)(A) or (B); and

     (ii) the aggregate amount of which exceeds $25,000,000 in value shall be determined to
be fair in the manner provided for in Section 4.12(b)(1)(B).

     SECTION 4.13. Limitation on Dividend and Other Payment Restrictions Affecting Restricted
Subsidiaries.

     (a) The Issuers shall not, and shall not permit any Restricted Subsidiaries to, create or
otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of
any kind on the ability of any such Restricted Subsidiary to:

     (1) pay dividends or make any other distributions permitted by applicable law on any
Capital Stock of such Restricted Subsidiary owned by an Issuer or any of its Restricted
Subsidiaries;

     (2) pay any Indebtedness owed to an Issuer or any other Restricted Subsidiary;

     (3) make loans or advances to an Issuer or any other Restricted Subsidiary; or

     (4) transfer its property or assets to an Issuer or any other Restricted Subsidiary.

     (b) Section 4.13(a) shall not restrict any encumbrances or restrictions:

     (1) existing under, by reason of or with respect to this Indenture, the Credit
Agreement and any other agreement in effect on the Issue Date as in effect on the Issue
Date, and any amendments, modifications, restatements, extensions, increases, supplements,
refundings, refinancing, renewals or replacements of such agreements; provided, however,
that the encumbrances

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and restrictions in any such amendments, modifications, restatements, extensions,
increases, supplements, refundings, refinancing, renewals or replacements are not materially
more restrictive, taken as a whole, than those in effect on the Issue Date;

     (2) existing under, by reason of or with respect to any other Indebtedness of the
Issuers or their Restricted Subsidiaries permitted under this Indenture; provided, however,
that the Issuers have determined in good faith that the encumbrances and restrictions
contained in the agreement or agreements governing the other Indebtedness are not materially
more restrictive, taken as a whole, than those contained in customary comparable financings
and will not impair in any material respect the Issuers’ and the Guarantors’ ability to make
payments on the Notes when due;

     (3) existing with respect to any Person or the property or assets of such Person
acquired by an Issuer or any Restricted Subsidiary, existing at the time of such acquisition
and not Incurred in contemplation thereof, which encumbrances or restrictions are not
applicable to any Person or the property or assets of any Person other than such Person or
the property or assets of such Person so acquired and any amendments, modifications,
restatements, extensions, increases, supplements, refundings, refinancing, renewals or
replacements thereof; provided, however, that the encumbrances and restrictions in any such
amendments, modifications, restatements, extensions, increases, supplements, refundings,
refinancing, renewals or replacements are entered into in the ordinary course of business or
not materially more restrictive, taken as a whole, than those contained in the instruments
or agreements with respect to such Person or its property or assets as in effect on the date
of such acquisition;

     (4) existing under, by reason of or with respect to provisions in joint venture,
operating or similar agreements;

     (5) in the case of Section 4.13(a)(4):

     (i) that restrict in a customary manner the subletting, assignment or transfer
of any property or asset that is a lease, license, conveyance or contract or similar
property or asset,

     (ii) existing by virtue of any transfer of, agreement to transfer, option or
right with respect to, or Lien on, any property or assets of an Issuer or any
Restricted Subsidiary not otherwise prohibited by this Indenture,

     (iii) existing under, by reason of or with respect to (1) purchase money
obligations for property acquired in the ordinary course of business or (2) capital
leases or operating leases that impose encumbrances or restrictions on the property
so acquired or covered thereby, or

     (iv) arising or agreed to in the ordinary course of business, not relating to
any Indebtedness, and that do not, individually or in the aggregate, detract from
the value of property or assets of an Issuer or any Restricted Subsidiary in any
manner material to an Issuer and its Restricted Subsidiaries taken as a whole;

     (6) any encumbrance or restriction with respect to a Restricted Subsidiary that is a
Guarantor which was previously an Unrestricted Subsidiary pursuant to or by reason of an
agreement that such Subsidiary is a party to or entered into before the date on which such
Subsidiary became a Restricted Subsidiary; provided that such agreement was not
entered into in

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anticipation of an Unrestricted Subsidiary becoming a Restricted Subsidiary and any such
encumbrance or restriction does not extend to any assets or property of the Issuers or any
other Restricted Subsidiary other than the assets and property of such Subsidiary; and

     (7) with respect to a Restricted Subsidiary and imposed pursuant to an agreement that
has been entered into for the sale or disposition of the Capital Stock of, or property and
assets of, such Restricted Subsidiary that restricts distributions by that Restricted
Subsidiary pending the closing of such sale or other disposition.

     (c) Nothing contained in this Section 4.13 shall prevent an Issuer or any Restricted
Subsidiary from restricting the sale or other disposition of property or assets of an Issuer or any
of its Restricted Subsidiaries that secure Indebtedness of the Issuers or any of their Restricted
Subsidiaries. For purposes of determining compliance with this Section 4.13, (1) the priority of
any Preferred Stock in receiving dividends or liquidating distributions prior to distributions
being paid on common stock shall not be deemed a restriction on the ability to make distributions
on Capital Stock and (2) the subordination of loans or advances made to a Restricted Subsidiary to
other Indebtedness incurred by such Restricted Subsidiary shall not be deemed a restriction on the
ability to make loans or advances.

     SECTION 4.14. Future Guarantees by Restricted Subsidiaries.

     (a) The Issuers will cause each Restricted Subsidiary that is not a Guarantor that borrows
under or Guarantees the Credit Agreement on the Issue Date, and any domestic Restricted Subsidiary
that is not a Guarantor that borrows under or Guarantees the Credit Agreement or any other capital
markets Indebtedness thereafter, to, within 30 days thereof, execute and deliver to the Trustee a
supplemental indenture pursuant to which such Restricted Subsidiary will unconditionally Guarantee,
on a joint and several basis, the full and prompt payment of the principal of, premium, if any, and
interest in respect of the Notes on a senior basis and all other obligations under this Indenture.

     (b) Any Subsidiary Guarantee by a Restricted Subsidiary shall provide by its terms that it
shall be automatically and unconditionally released and discharged upon:

     (1) any sale, exchange or transfer, to any Person that is not a Subsidiary of an Issuer
of Capital Stock held by an Issuer and its Restricted Subsidiaries in, or all or
substantially all the assets of, such Restricted Subsidiary (which sale, exchange or
transfer is not prohibited by this Indenture) such that, immediately after giving effect to
such transaction, such Restricted Subsidiary would no longer constitute a Subsidiary of an
Issuer,

     (2) in connection with the merger or consolidation of a Subsidiary Guarantor with (a)
an Issuer or (b) any other Subsidiary Guarantor (provided that the surviving entity remains
a Subsidiary Guarantor),

     (3) if the Issuers properly designate any Restricted Subsidiary that is a Subsidiary
Guarantor as an Unrestricted Subsidiary pursuant to the terms of this Indenture,

     (4) upon the Legal Defeasance or Covenant Defeasance or satisfaction and discharge of
this Indenture,

     (5) upon a liquidation or dissolution of a Subsidiary Guarantor permitted under this
Indenture, or

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     (6) the release or discharge of the Guarantee that resulted in the creation of such
Subsidiary Guarantee, except a discharge or release by or as a result of payment under such
Guarantee.

     (c) In addition, any Subsidiary Guarantee shall be automatically and unconditionally released
and discharged if such Subsidiary ceases to guarantee obligations under the Credit Agreement or
ceases to constitute a co-borrower with respect to the Credit Agreement.

     SECTION 4.15. Reports to Holders.

     (a) Whether or not Opco is then required to file reports with the SEC, Opco shall file with
the SEC all such reports and other information as it would be required to file with the SEC by
Sections 13(a) or 15(d) under the Exchange Act if it was subject thereto; provided, however, that,
if filing such documents by Opco with the SEC is not permitted under the Exchange Act, Opco shall,
within 15 days after the time Opco would be required to file such information with the SEC if it
were subject to Section 13 or 15(d) under the Exchange Act, provide such documents and reports to
the Trustee and upon written request supply copies of such documents and reports to any Holder and
shall post such documents and reports on Opco’s public website. Opco shall supply the Trustee and
each Holder or shall supply to the Trustee for forwarding to each such Holder, without cost to such
Holder, copies of such reports and other information. Delivery of such information, documents and
reports 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 Issuers’ compliance with any of its covenants
hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates).

     (b) So long as permitted by the SEC, at any time that either (x) one or more Subsidiaries of
Opco is an Unrestricted Subsidiary or (y) Opco holds directly any material assets (including
Capital Stock) other than the Capital Stock of the Issuers then the quarterly and annual financial
information required by this Section 4.15 will include a reasonably detailed presentation, either
in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” or any
other comparable section, of the financial condition and results of operations of the Issuers and
their Restricted Subsidiaries separate from the financial condition and results of operations of
such Unrestricted Subsidiaries and other material assets of the Issuers.

     (c) Opco shall also, within a reasonably prompt period of time following the disclosure of the
annual and quarterly information required above, conduct a conference call with respect to such
information and results of operations for the relevant reporting period. No fewer than three
Business Days prior to the date of the conference call required to be held in accordance with the
preceding sentence, Opco shall issue a press release to the appropriate internationally recognized
wire services announcing the date that such information will be available and the time and date of
such conference call.

     (d) So long as any Notes remain outstanding, Opco will furnish to the 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.

     (e) So long as the Parent is a Guarantor of the Notes, the Indenture will permit Opco to
satisfy its obligations under this Section 4.15 with respect to filing, furnishing, providing and
posting documents, reports and other information relating to Opco by the Parent’s filing,
furnishing, providing and posting, as the case may be, of such documents, reports and other
information relating to the Parent; provided that the same is accompanied by consolidating
information that explains in reasonable detail and in the same manner described in the Offering
Memorandum the differences between the information relating

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to the Parent and its consolidated Subsidiaries on the one hand, and the information relating
to the Parent, the Issuers and the Subsidiary Guarantors on a standalone basis, on the other hand,
as of the ending date of the period covered by such report.

     SECTION 4.16. Suspension of Covenants. During a Suspension Period, the Parent, the Issuers and the
Restricted Subsidiaries shall not be subject to Section 4.09, 4.11, 4.12, 4.13, 4.14 or 5.01(a)(3)
(each a “Suspended Covenant”). All other provisions of this Indenture shall apply at all
times during any Suspension Period so long as any Notes remain outstanding hereunder; provided that
the Interest Coverage Ratio that will be applicable under Section 4.08(c) will be 1.5 to 1.0 during
any Suspension Period.

     “Suspension Period” means any period (1) beginning on the date that:

     (A) the Notes have Investment Grade Status;

     (B) no Default or Event of Default has occurred and is continuing; and

     (C) the Issuers have delivered an Officer’s Certificate to the Trustee certifying that
the conditions set forth in clauses (A) and (B) above are satisfied;

and (2) ending on the date (the “Reversion Date”) that the Notes cease to have Investment
Grade Status, notice of which shall be provided to the Trustee.

     On each Reversion Date, all Indebtedness, liens thereon and dividend blockages incurred during
the Suspension Period prior to such Reversion Date shall be deemed to have been outstanding on the
Issue Date.

     For purposes of calculating the amount available to be made as Restricted Payments under
Section 4.09(a)(C), calculations under that clause shall be made with reference to the Transaction
Date, as set forth in that clause. Accordingly, (x) Restricted Payments made during the Suspension
Period not otherwise permitted pursuant to any of clauses (1) through (11) of Section 4.09(b),
shall reduce the amount available to be made as Restricted Payments under Section 4.09(a)(C);
provided, however, that the amount available to be made as a Restricted Payment on the Transaction
Date shall not be reduced to below zero solely as a result of such Restricted Payments, but may be
reduced to below zero as a result of negative cumulative Funds From Operations during the
Suspension Period for the purpose of Section 4.09(a)(C)(i), and (y) the items specified in Section
4.09(a)(C)(i), (ii), (iii), (iv), (v) and (vi) that occur during the Suspension Period shall
increase the amount available to be made as Restricted Payments under Section 4.09(a)(C). Any
Restricted Payment made during the Suspension Period that are of the type described in Section
4.09(b) (other than the Restricted Payment referred to in clauses (1) or (2) of Section 4.09(b) or
any exchange of Capital Stock for Capital Stock or Indebtedness referred to in clause (4) or (5) of
Section 4.09(b)), and the Net Cash Proceeds from any issuance of Capital Stock referred to in
clauses (4) and (5) of Section 4.09(b) (adjusted to avoid double counting) shall not be included in
calculating the amounts permitted to be incurred under Section 4.09(a)(C) on each Reversion Date.

     For purposes of Section 4.11, on each Reversion Date, the unutilized Excess Proceeds shall be
reset to zero.

     No Default or Event of Default shall be deemed to have occurred on the Reversion Date (or
thereafter) under any Suspended Covenant solely as a result of any actions taken by the Parent or
any Restricted Subsidiaries thereof, or events occurring, during the Suspension Period. For
purposes of Section 4.10, if the Parent and its Restricted Subsidiaries are not in compliance with
Section 4.10 as of a Reversion Date, no Default or Event of Default shall be deemed to have
occurred for up to 120 days following

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the Reversion Date; provided that neither the Parent nor any of its Restricted Subsidiaries
shall incur any Secured Indebtedness until such time that the requirements of Section 4.10 have
been met.

     SECTION 4.17. Limitation on Activities of Finco.

     Finco may not hold any material assets, become liable for any material obligations, engage in
any trade or business, or conduct any business activity, other than (1) the issuance of its Capital
Stock to Opco or any wholly owned Restricted Subsidiary of Opco, (2) the incurrence of Indebtedness
as a co-obligor or guarantor, as the case may be, of the Notes, the Credit Agreement and any other
Indebtedness that is permitted to be incurred under Section 4.08; provided that the net proceeds of
such Indebtedness are not retained by Finco, and (3) activities incidental thereto. Neither the
Parent nor any Restricted Subsidiary shall engage in any transaction with Finco in violation of the
immediately preceding sentence.

ARTICLE FIVE

Successor Corporation

     SECTION 5.01. Consolidation Merger and Sale of Assets.

     (a) No Issuer shall consolidate with or merge with or into, or sell, convey, transfer or
otherwise dispose of all or substantially all of its and its Restricted Subsidiaries’ (taken as a
whole) property and assets (as an entirety or substantially an entirety in one transaction or a
series of related transactions) to, any Person or permit any Person (other than a Restricted
Subsidiary) to merge with or into it unless:

     (1) such Issuer shall be the continuing Person, or the Person (if other than such
Issuer) formed by such consolidation or into which such Issuer is merged or that acquired
such property and assets of such Issuer shall be a corporation, limited liability company,
partnership (including a limited partnership) or trust organized and validly existing under
the laws of the United States of America or any state or jurisdiction thereof and shall
expressly assume, by a supplemental indenture, executed and delivered to the Trustee, all of
the obligations of such Issuer with respect to the Notes and under this Indenture and the
Registration Rights Agreement (provided that in the case of a limited liability company,
partnership (including a limited partnership) or trust, there shall also be a corporation
organized and validly existing under the laws of the United States of America or any state
or jurisdiction thereof which shall expressly jointly with such limited liability company,
partnership (including a limited partnership) or trust, assume, by a supplemental indenture,
executed and delivered to the Trustee, all of the obligations of such Issuer with respect to
the Notes and under this Indenture);

     (2) immediately after giving effect to such transaction, no Default or Event of Default
shall have occurred and be continuing;

     (3) immediately after giving effect to such transaction and any related financing
transactions as if the same had occurred at the beginning of the applicable Four Quarter
Period, on a pro forma basis the Issuers, or any Person becoming the successor obligor of
the Notes, as the case may be, could Incur at least $1.00 of Indebtedness under paragraphs
(a) and (c) of Section 4.08; provided, however, that this clause (3) shall not apply to a
consolidation or merger with or into a Wholly Owned Restricted Subsidiary; and

     (4) the Issuers deliver to the Trustee an Officer’s Certificate (attaching the
arithmetic computations to demonstrate compliance with clause (3) above) and an Opinion of
Counsel, in

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each case stating that such consolidation, merger or transfer and such supplemental
indenture complies with this Section 5.01 and that all conditions precedent provided for
herein relating to such transaction have been complied with and, with respect to the Opinion
of Counsel, that the supplemental indenture constitutes a valid and binding obligation
enforceable against the Issuers, or the Person (if other than an Issuer) formed by such
consolidation or into which such Issuer is merged or that acquired all or substantially all
of such Issuer’s and its Restricted Subsidiaries’ property and assets;

provided, however, that clause (3) above does not apply if, in the good faith determination of the
Board of Directors of the Parent, whose determination shall be evidenced by a Board Resolution, the
principal purpose of such transaction is to change the state of domicile of an Issuer; provided
further, however, that any such transaction shall not have as one of its purposes the evasion of
the foregoing limitations.

     (b) Except as provided in Section 10.04, the Issuers shall not permit any Subsidiary Guarantor
to consolidate with or merge with or into, or convey or transfer, in one transaction or a series of
transactions, all or substantially all of its property and assets to any Person, unless:

     (1) (i) the resulting, surviving or transferee Person (if not such Subsidiary) shall be
a Person organized and existing under the laws of the jurisdiction under which such
Subsidiary was organized or under the laws of the United States of America, or any state
thereof or the District of Columbia, and (ii) such Person shall expressly assume, by a
supplemental indenture, all the obligations of such Subsidiary Guarantor, if any, under the
Notes or its Subsidiary Guarantee and the Registration Rights Agreement, as applicable;
provided, however, that the foregoing requirement in clause (ii) shall not apply in the case
of a Subsidiary Guarantor or all or substantially all of its property and assets (x) that
has been disposed of in its entirety to another Person (other than to an Issuer or an
Affiliate of an Issuer), whether through a merger, consolidation or sale of Capital Stock or
assets or (y) that, as a result of the disposition of all or a portion of its Capital Stock,
ceases to be a Subsidiary, so long as, in both cases, in connection therewith the Issuers
provide an Officer’s Certificate to the Trustee to the effect that the Issuers shall comply
with their obligations under Section 4.11;

     (2) immediately after giving effect to such transaction or transactions on a pro forma
basis (and treating any Indebtedness which becomes an obligation of the resulting, surviving
or transferee Person as a result of such transaction as having been issued by such Person at
the time of such transaction), no Default shall have occurred and be continuing; and

     (3) the Issuers deliver to the Trustee an Officer’s Certificate and an Opinion of
Counsel, each stating that such consolidation, merger or transfer and such supplemental
indenture, if any, complies with this Indenture and, with respect to the Opinion of Counsel,
that the supplemental indenture constitutes a valid and binding obligation enforceable
against the Issuers, the Subsidiary Guarantors, the Parent and the surviving Persons.

     (c) Notwithstanding the foregoing, any Subsidiary Guarantor may (i) merge with an Affiliate of
an Issuer or a Restricted Subsidiary or another Subsidiary Guarantor solely for the purpose of
changing the state of domicile of the Subsidiary Guarantor, (ii) merge with or into or transfer all
or part of its properties and assets to another Subsidiary Guarantor or the Issuers or (iii)
convert into a corporation, partnership, limited partnership, limited liability company or trust
organized under the laws of the jurisdiction of organization of such Subsidiary Guarantor.

     (d) Upon any such consolidation, combination or merger of an Issuer or a Guarantor, or any
such sale, conveyance, transfer or other disposition of all or substantially all of the assets of
an Issuer in

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accordance with this Section 5.01, in which such Issuer or such Guarantor is not the
continuing obligor under the Notes or its Guarantee, the surviving entity formed by such
consolidation or into which such Issuer or such Guarantor is merged or the entity to which the
sale, conveyance, transfer or other disposition is made shall succeed to, and be substituted for,
and may exercise every right and power of, such Issuer or such Guarantor under this Indenture and,
the Notes and the Guarantees with the same effect as if such surviving entity had been named
therein as such Issuer or such Guarantor and such Issuer or such Guarantor, as the case may be,
shall be released from the obligation to pay the principal of and interest on the Notes or in
respect of its Guarantee, as the case may be, and all of such Issuer’s or such Guarantor’s other
obligations and covenants under the Notes, this Indenture and its Guarantee, if applicable.

ARTICLE SIX

Default and Remedies

     SECTION 6.01. Events of Default. Each of the following is an “Event of Default”:

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

     (2) default in the payment of interest on any Note when they are due and payable, and
such default continues for a period of 30 days;

     (3) the Issuers or Restricted Subsidiaries do not comply with their obligations under
Section 5.01;

     (4) the Issuers fail to make or consummate a Change of Control Offer following a Change
of Control when required under Section 4.07;

     (5) the Issuers or Restricted Subsidiaries default in the performance of or breach any
other covenant or agreement of the Issuers or the Restricted Subsidiaries in this Indenture
or under the Notes (other than a default specified in clause (1), (2), (3) or (4) above) and
such default or breach continues for 60 consecutive days after written notice by the Trustee
or the Holders of 25% or more in aggregate principal amount of the Notes;

     (6) there occurs with respect to any issue or issues of Indebtedness of an Issuer or
any Significant Subsidiary having an outstanding principal amount of $25,000,000 or more in
the aggregate for all such issues of all such Persons, whether such Indebtedness now exists
or shall hereafter be created,

     (i) an event of default that has caused the Holder thereof to declare such
Indebtedness to be due and payable prior to its Stated Maturity and such
Indebtedness has not been discharged in full or such acceleration has not been
rescinded or annulled within 30 days of such acceleration and/or

     (ii) the failure to make a principal payment at the final (but not any interim)
fixed maturity and such defaulted payment shall not have been made, waived or
extended within 30 days of such payment default;

     (7) any final and non-appealable judgment or order for the payment of money in excess
of $25,000,000 in the aggregate for all such final judgments or orders against all such
Persons:

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     (i) shall be rendered against an Issuer or any Significant Subsidiary and shall
not be paid or discharged and

     (ii) there shall be any period of 60 consecutive days following entry of the
final judgment or order that causes the aggregate amount for all such final
judgments or orders outstanding and not paid or discharged against all such Persons
to exceed $25,000,000 during which a stay of enforcement of such final judgment or
order, by reason of a pending appeal or otherwise, shall not be in effect;

     (8) a court of competent jurisdiction enters a decree or order for:

     (i) relief in respect of an Issuer or any Significant Subsidiary in an
involuntary case under any applicable Bankruptcy Law now or hereafter in effect,

     (ii) appointment of a receiver, liquidator, assignee, custodian, trustee,
sequestrator or similar official of an Issuer or any Significant Subsidiary or for
all or substantially all of the property and assets of an Issuer or any Significant
Subsidiary or

     (iii) the winding up or liquidation of the affairs of an Issuer or any
Significant Subsidiary and, in each case, such decree or order shall remain unstayed
and in effect for a period of 60 consecutive days; or

     (9) an Issuer or any Significant Subsidiary:

     (i) commences a voluntary case under any applicable Bankruptcy Law now or
hereafter in effect, or consents to the entry of an order for relief in an
involuntary case under such law,

     (ii) consents to the appointment of or taking possession by a receiver,
liquidator, assignee, custodian, trustee, sequestrator or similar official of an
Issuer or such Significant Subsidiary or for all or substantially all of the
property and assets of an Issuer or such Significant Subsidiary or

     (iii) effects any general assignment for the benefit of its creditors.

     SECTION 6.02. Acceleration. If an Event of Default (other than an Event of Default specified in
clause (8) or (9) of Section 6.01 that occurs with respect to an Issuer) occurs and is continuing
under this Indenture, the Trustee or the Holders of at least 25% in aggregate principal amount of
the Notes then outstanding, by written notice to the Issuers (and to the Trustee if such notice is
given by the Holders), may, and the Trustee at the request of the Holders of at least 25% in
aggregate principal amount of the Notes then outstanding shall, declare the principal of, premium,
if any, and accrued interest on the Notes to be immediately due and payable. Upon a declaration of
acceleration, such principal of, premium, if any, and accrued interest shall be immediately due and
payable. In the event of a declaration of acceleration because an Event of Default set forth in
clause (6) of Section 6.01 has occurred and is continuing, such declaration of acceleration shall
be automatically rescinded and annulled if the event of default triggering such Event of Default
pursuant to clause (6) of Section 6.01 shall be remedied or cured by the relevant Issuer or
Significant Subsidiary or waived by the Holders of the relevant Indebtedness within 60 days after
the declaration of acceleration with respect thereto.

     If an Event or Default specified in clause (8) or (9) of Section 6.01 occurs with respect to
an Issuer, the principal of, premium, if any, and accrued interest on the Notes then outstanding
shall automatically

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become and be immediately due and payable without any declaration or other act on the
part of the Trustee or any Holder. The Holders of at least a majority in principal amount of the
outstanding Notes by written notice to the Issuers and to the Trustee may waive all past Defaults
and rescind and annul a declaration of acceleration and its consequences if:

     (x) all existing Events of Default, other than the nonpayment of the principal of,
premium, if any, and interest on the Notes that have become due solely by such declaration
of acceleration, have been cured or waived; and

     (y) the rescission would not conflict with any judgment or decree of a court of
competent jurisdiction.

     No such rescission shall affect any subsequent Default or impair any right consequent thereto.

     SECTION 6.03. Other Remedies. If a Default occurs and is continuing, the Trustee may pursue any
available remedy by proceeding at law or in equity to collect the payment of principal of, or
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 in
exercising any right or remedy accruing upon a Default shall not impair the right or remedy or
constitute a waiver of or acquiescence in the Default. No remedy is exclusive of any other remedy.
All available remedies are cumulative to the extent permitted by law.

     SECTION 6.04. Waiver of Past Defaults. Subject to Sections 2.09, 6.07 and 9.02, the Holders of a
majority in principal amount of the outstanding Notes (which may include consents obtained in
connection with a tender offer or exchange offer of Notes) by notice to the Trustee may waive an
existing Default and its consequences, except a Default in the payment of principal of, or interest
on, any Note as specified in Section 6.01(1) or (2). The Issuers shall deliver to the Trustee an
Officer’s Certificate stating that the requisite percentage of Holders have consented to such
waiver and attaching copies of such consents. When a Default is waived, it is cured and ceases.

     SECTION 6.05. Control by Majority. The Holders of at least a majority in aggregate principal amount
of the outstanding Notes may direct the time, method and place of conducting any proceeding for any
remedy available to the Trustee or exercising any trust or power conferred on the Trustee. Subject
to Section 7.01, however, the Trustee may refuse to follow any direction that conflicts with any
law or this Indenture, that may involve the Trustee in personal liability, or that the Trustee
determines in good faith may be unduly prejudicial to the rights of Holders of Notes not joining in
the giving of such direction received from the Holders of Notes; provided, however, that the
Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such
direction.

     SECTION 6.06. Limitation on Suits. No Holder shall have any right to institute any proceeding with
respect to this Indenture or for any remedy thereunder, unless:

     (1) the Holder gives the Trustee written notice of a continuing Event of Default;

     (2) the Holders of at least 25% in aggregate principal amount of outstanding Notes make
a written request to the Trustee to pursue the remedy;

     (3) such Holder or Holders offer the Trustee indemnity satisfactory to the Trustee
against any costs, liability or expense;

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     (4) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer of indemnity; and

     (5) during such 60-day period, the Holders of a majority in aggregate principal amount
of the outstanding Notes do not give the Trustee a direction that is inconsistent with the
request.

     However, such limitations do not apply to the right of any Holder of a Note to receive payment
of the principal of, premium, if any, or interest on, such Note or to bring suit for the
enforcement of any such payment on or after the due date expressed in the Notes, which right shall
not be impaired or affected without the consent of the Holder.

     A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a
preference or priority over such other Holder.

     SECTION 6.07. Rights of Holders To Receive Payment. Notwithstanding any other provision of this
Indenture, the right of any Holder to receive payment of principal of and premium, if any, and
interest on, a Note, on or after the respective due dates therefor, 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 the Holder.

     SECTION 6.08. Collection Suit by Trustee. If a Default in payment of principal or interest
specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee may recover judgment in
its own name and as trustee of an express trust against the Issuers or any other obligor on the
Notes for the whole amount of principal and accrued interest and fees remaining unpaid, together
with interest on overdue principal and, to the extent that payment of such interest is lawful,
interest on overdue installments of interest, in each case at the rate per annum borne by the Notes
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.

     SECTION 6.09. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other
papers or documents as may be necessary or advisable in order to have the claims of the Trustee
(including any claim for the compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel) and the Holders allowed in any judicial proceedings relating to the Issuers,
their creditors or their property and shall be entitled and empowered to collect and receive any
monies or other property payable or deliverable on any such claims and to distribute the same, and
any custodian in any such judicial proceedings 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 agent and counsel, and any
other amounts due the Trustee under Section 7.07. Nothing herein contained shall be deemed to
authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any
plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of
any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in
any such proceeding. The Trustee shall be entitled to participate as a member of any official
committee of creditors in the matters as it deems necessary or advisable.

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

     First: to the Trustee for amounts due hereunder, including under Section 7.07;

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     Second: to Holders for interest accrued on the Notes, ratably, without preference or
priority of any kind, according to the amounts due and payable on the Notes for interest;

     Third: to Holders for principal amounts due and unpaid on the Notes, ratably, without
preference or priority of any kind, according to the amounts due and payable on the Notes
for principal; and

     Fourth: to the Issuers or, if applicable, the Guarantors, as their respective
interests may appear.

     The Trustee may fix a record date and payment date for any payment to Holders pursuant to this
Section 6.10.

     SECTION 6.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy under
this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee,
a court in its discretion may require the filing by any party litigant in the suit of an
undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable
costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit,
having due regard to the merits and good faith of the claims or defenses made by the party
litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant
to Section 6.07, or a suit by a Holder or Holders of more than 10% in principal amount of the
outstanding Notes.

     SECTION 6.12. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any
proceeding to enforce any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to
such Holder, then and in every such case, subject to any determination in such proceedings or any
other proceedings, the Issuers, the Trustee and the Holders shall be restored severally and
respectively to their former positions hereunder and thereafter all rights and remedies hereunder
of the Trustee and the Holders shall continue as though no such proceeding has been instituted.

ARTICLE SEVEN

Trustee

     SECTION 7.01. Duties of Trustee.

     (a) If a Default has occurred and is continuing, the Trustee shall exercise such of the rights
and powers vested in it by this Indenture and use the same degree of care and skill in their
exercise as a prudent person would exercise or use under the circumstances in the conduct of his or
her own affairs.

     (b) Except during the continuance of a Default:

     (1) The Trustee need perform only those duties as are specifically set forth herein or
in the Trust Indenture Act and no duties, covenants, responsibilities or obligations shall
be implied in this Indenture against the Trustee.

     (2) In the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates (including Officer’s Certificates) or opinions (including Opinions of Counsel)
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

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Trustee, the Trustee shall examine the certificates and opinions to determine whether
or not they conform to the requirements of this Indenture.

     (c) Notwithstanding anything to the contrary herein, the Trustee may not be relieved from
liability for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that:

     (1) This paragraph does not limit the effect of Section 7.01(b).

     (2) The Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the
pertinent facts.

     (3) 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) No provision of this Indenture shall require the Trustee to expend or risk its own funds
or otherwise incur any financial liability in the performance of any of its duties hereunder or to
take or omit to take any action under this Indenture or take any action at the request or direction
of Holders if it shall have reasonable grounds for believing that repayment of such funds is not
assured to it.

     (e) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to this Section 7.01.

     (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 Issuers. Money held in trust by the Trustee need not be
segregated from other funds except to the extent required by law or unless otherwise agreed with
the Issuers.

     (g) In the absence of bad faith, negligence or willful misconduct on the part of the Trustee,
the Trustee shall not be responsible for the application of any money by any Paying Agent other
than the Trustee.

     SECTION 7.02. Rights of Trustee. Subject to Section 7.01:

     (a) The Trustee may rely conclusively on any resolution, certificate (including any Officer’s
Certificate), statement, instrument, opinion (including any Opinion of Counsel), notice, request,
direction, consent, order, bond, debenture or other paper or 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.

     (b) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate
and an Opinion of Counsel, which shall conform to the provisions of Section 11.05. The Trustee
shall not be liable for any action it takes or omits to take in good faith in reliance on such
Officer’s Certificate or Opinion of Counsel.

     (c) The Trustee may act through its attorneys and agents and shall not be responsible for the
misconduct or negligence of any agent (other than an agent who is an employee of the Trustee)
appointed with due care.

     (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
which it reasonably believes to be authorized or within its rights or powers under this Indenture.

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

     (f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request, order or direction of any of the Holders pursuant to the
provisions of this Indenture, unless such Holders shall have offered to the Trustee reasonable
security or indemnity satisfactory to it against the costs, expenses and liabilities which may be
incurred therein or thereby.

     (g) The Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate (including any Officer’s Certificate), statement, instrument,
opinion (including any Opinion of Counsel), notice, request, direction, consent, order, bond,
debenture, or other paper or document, but the Trustee, in its discretion, may make such further
inquiry or investigation into such facts or matters as it may see fit and, if the Trustee shall
determine to make such further inquiry or investigation, it shall be entitled, upon reasonable
notice to the Issuers, to examine the books, records, and premises of the Issuers, personally or by
agent or attorney at the sole cost of the Issuers.

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

     (i) The permissive rights of the Trustee to do things enumerated in this Indenture shall not
be construed as duties.

     (j) Except with respect to Sections 4.01 and 4.05, the Trustee shall have no duty to inquire
as to the performance of the Issuers with respect to the covenants contained in Article Four. In
addition, the Trustee shall not be deemed to have knowledge of an Event of Default except (i) any
Default or Event of Default occurring pursuant to Section 4.01, 6.01(1) or 6.01(2) or (ii) any
Default or Event of Default actually known to a Responsible Officer.

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

     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 Issuers, their Subsidiaries or
their respective Affiliates with the same rights it would have if it were not Trustee. Any Agent
may do the same with like rights. However, the Trustee shall comply with Sections 7.10 and 7.11.

     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 Issuers’ use of the proceeds from the Notes, and it shall not be responsible
for any statement of the Issuers in this Indenture or any document issued in connection with the
sale of Notes or any statement in the Notes other than the Trustee’s certificate of authentication.
The Trustee makes no representations with respect to the effectiveness or adequacy of this
Indenture.

     SECTION 7.05. Notice of Default. If a Default occurs and is continuing and is deemed to be known to
the Trustee pursuant to Section 7.02(j), the Trustee shall mail to each Holder notice of the
uncured Default within 60 days after the Trustee is deemed to know such Default occurred. Except
in the case of a Default in payment of principal of, or interest on, any Note, including an
accelerated payment and the failure to make a payment pursuant to an Asset Sale Offer and/or Change
of Control Offer or a

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Default in complying with the provisions of Article Five, the Trustee may withhold the notice
if and so long as the Board of Directors, the executive committee, or a trust committee of
directors and/or Responsible Officers, of the Trustee in good faith determines that withholding the
notice is in the interest of the Holders.

     SECTION 7.06. Reports by Trustee to Holders. Within 60 days after each November 1, beginning with
November 1, 2011, the Trustee shall, to the extent that any of the events described in Trust
Indenture Act § 313(a) occurred within the previous twelve months, but not otherwise, mail to each
Holder a brief report dated as of such date that complies with Trust Indenture Act § 313(a). The
Trustee also shall comply with Trust Indenture Act §§ 313(b), 313(c) and 313(d).

     A copy of each report at the time of its mailing to Holders shall be mailed to the Issuers and
filed with the SEC and each securities exchange, if any, on which the Notes are listed.

     The Issuers shall notify the Trustee if the Notes become listed on any securities exchange or
of any delisting thereof and the Trustee shall comply with Trust Indenture Act § 313(d).

     SECTION 7.07. Compensation and Indemnity. The Issuers shall pay to the Trustee from time to time
such compensation as the Issuers and the Trustee shall from time to time agree in writing for its
services hereunder. The Trustee’s compensation shall not be limited by any law on compensation of
a trustee of an express trust. The Issuers shall reimburse the Trustee upon request for all
reasonable disbursements, expenses and advances (including reasonable fees and expenses of counsel)
incurred or made by it in addition to the compensation for its services, except any such
disbursements, expenses and advances as may be attributable to the Trustee’s negligence, bad faith
or willful misconduct. Such expenses shall include the reasonable fees and expenses of the
Trustee’s agents and counsel.

     The Issuers shall indemnify each of the Trustee or any predecessor Trustee and its agents for,
and hold them harmless against, any and all loss, damage, claims including taxes (other than taxes
based upon, measured by or determined by the income of the Trustee), liability or expense incurred
by them except for such actions to the extent caused by any negligence, bad faith or willful
misconduct on their part, arising out of or in connection with this Indenture including the
reasonable costs and expenses of defending themselves against or investigating any claim or
liability in connection with the exercise or performance of any of the Trustee’s rights, powers or
duties hereunder. The Trustee shall notify the Issuers promptly of any claim asserted against the
Trustee or any of its agents for which it may seek indemnity, provided that failure to provide such
notice shall not relieve the Issuers of their obligations in this Section 7.07. The Issuers may, at
the request of the Trustee, defend the claim and the Trustee shall cooperate in the defense;
provided that the Trustee and its agents subject to the claim may have separate counsel and the
Issuers shall pay the reasonable fees and expenses of such counsel; provided, however, that the
Issuers shall not be required to pay such fees and expenses if the Issuers assume the Trustee’s
defense and there is no conflict of interest between the Issuers and the Trustee and its agents
subject to the claim in connection with such defense as reasonably determined by the Trustee. The
Issuers need not pay for any settlement made without their written consent (which shall not be
unreasonably withheld). The Issuers need not reimburse any expense or indemnify against any loss
or liability to the extent incurred by the Trustee through its negligence, bad faith or willful
misconduct.

     Notwithstanding anything to the contrary in this Indenture, to secure the Issuers’ payment
obligations in this Section 7.07, the Trustee shall have a Lien prior to the Notes against all
money or property held or collected by the Trustee, in its capacity as Trustee, except money or
property held in trust to pay principal and interest on particular Notes.

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     When the Trustee incurs expenses or renders services after a Default specified in Section
6.01(8) or 6.01(9) occurs, such expenses and the compensation for such services shall be paid to
the extent allowed under any Bankruptcy Law.

     Notwithstanding any other provision in this Indenture, the foregoing provisions of this
Section 7.07 shall survive the satisfaction and discharge of this Indenture or the appointment of a
successor Trustee.

     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. The Trustee may resign with 60 days prior written
notice by so notifying the Issuers in writing. The Holders of a majority in principal amount of
the outstanding Notes may remove the Trustee by so notifying the Issuers and the Trustee and may
appoint a successor Trustee. The Issuers may remove the Trustee if:

     (1) the Trustee fails to comply with Section 7.10;

     (2) the Trustee is adjudged a bankrupt or an insolvent;

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

     (4) 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 Issuers shall notify each Holder of such event and 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 Notes may appoint a successor Trustee to replace the successor Trustee
appointed by the Issuers.

     A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Issuers. Immediately after that, the retiring Trustee shall transfer, after
payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as
Trustee to the successor Trustee, subject to the Lien provided in Section 7.07, 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. A successor Trustee shall mail
notice of its succession to each Holder.

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

     If the Trustee fails to comply with Section 7.10, any Holder may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

     Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’
obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

     SECTION 7.09. Successor Trustee by Merger, Etc. Any business entity into which the Trustee may be
merged or converted or with which it may be consolidated, or any entity resulting from any merger,
conversion or consolidation to which the Trustee shall be a party, or any entity succeeding to all
or substantially all of the corporate trust business of the Trustee, shall be the successor of the
Trustee

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hereunder, without the execution or filing of any paper or any further act on the part of any
of the parties hereto.

     SECTION 7.10. Eligibility, Disqualification. This Indenture shall always have a Trustee who
satisfies the requirement of Trust Indenture Act §§ 310(a)(1), 310(a)(2) and 310(a)(5). The
Trustee shall have a combined capital and surplus of at least $150,000,000 as set forth in its most
recent published annual report of condition. The Trustee shall comply with Trust Indenture Act §
310(b); provided, however, that there shall be excluded from the operation of Trust Indenture Act §
310(b)(1) any indenture or indentures under which other securities, or certificates of interest or
participation in other securities, of the Issuers are outstanding, if the requirements for such
exclusion set forth in Trust Indenture Act § 310(b)(1) are met. The provisions of Trust Indenture
Act § 310 shall apply to the Issuers and any other obligor of the Notes.

     SECTION 7.11. Preferential Collection of Claims Against the Issuers. The Trustee, in its capacity
as Trustee hereunder, shall comply with Trust Indenture Act § 311(a), excluding any creditor
relationship listed in Trust Indenture Act § 311(b). A Trustee who has resigned or been removed
shall be subject to Trust Indenture Act § 311(a) to the extent indicated.

ARTICLE EIGHT

Discharge of Indenture, Defeasance

     SECTION 8.01. Termination of the Issuers’ Obligations. The Issuers may terminate their obligations
under the Notes and this Indenture and the obligations of the Guarantors under the Guarantees and
this Indenture, and this Indenture shall cease to be of further effect, except those obligations
referred to in the penultimate paragraph of this Section 8.01, if:

     (1) either

     (A) all the Notes theretofore authenticated and delivered (except lost, stolen
or destroyed Notes which have been replaced or paid and Notes for whose payment
money has theretofore been deposited in trust or segregated and held in trust by the
Issuers and thereafter repaid to the Issuers or discharged from such trust) have
been delivered to the Trustee for cancellation; or

     (B) all Notes not theretofore delivered to the Trustee for cancellation (1)
have become due and payable or (2) will become due and payable within one year, or
are to be called for redemption within one year, under arrangements reasonably
satisfactory to the Trustee for the giving of notice of redemption by the Trustee in
the name, and at the expense, of the Issuers, and the Issuers have irrevocably
deposited or caused to be deposited with the Trustee funds in an amount sufficient
to pay and discharge the entire Indebtedness on the Notes not theretofore delivered
to the Trustee for cancellation, for principal of, premium, if any, and interest on
the Notes to the date of maturity or redemption, as the case may be, together with
irrevocable instructions from the Issuers directing the Trustee to apply such funds
to the payment thereof at maturity or redemption, as the case may be;

     (2) the Issuers have paid all other sums payable under this Indenture by the Parent or
the Issuers, and

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     (3) the Issuers have delivered to the Trustee an Officer’s Certificate and an Opinion
of Counsel stating that all conditions precedent under this Indenture relating to the
satisfaction and discharge of this Indenture have been complied with.

     In the case of clause (B) of this Section 8.01, and subject to the next sentence and
notwithstanding the foregoing paragraph, the Issuers’ obligations in Sections 2.05, 2.06, 2.07,
2.08, 7.07, 8.05 and 8.06 shall survive until the Notes are no longer outstanding pursuant to the
last paragraph of Section 2.08. After the Notes are no longer outstanding, the Issuers’
obligations in Sections 7.07, 8.05 and 8.06 shall survive.

     After such delivery or irrevocable deposit, the Trustee upon request shall acknowledge in
writing the discharge of the Issuers’ obligations under the Notes and this Indenture except for
those surviving obligations specified above.

     SECTION 8.02. Legal Defeasance and Covenant Defeasance.

     (a) The Issuers may, at their option and at any time, elect to have either paragraph (b) or
(c) below be applied to all outstanding Notes upon compliance with the conditions set forth in
Section 8.03.

     (b) Upon the Issuers’ exercise under Section 8.02(a) hereof of the option applicable to this
Section 8.02(b), the Issuers and the Guarantors shall, subject to the satisfaction of the
conditions set forth in Section 8.03, be deemed to have been discharged from their obligations with
respect to all outstanding Notes on the date the conditions set forth below are satisfied
(hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the
Issuers and the Guarantors shall be deemed to have paid and discharged the entire Indebtedness
represented by the outstanding Notes and Guarantees, which shall thereafter be deemed to be
“outstanding” only for the purposes of Section 8.04 hereof and the other Sections of this Indenture
referred to in (i) and (ii) below, and to have satisfied all its other obligations under such Notes
and this Indenture and the Guarantors shall be deemed to have satisfied all of their obligations
under the Guarantees and this Indenture (and the Trustee, on demand of and at the expense of the
Issuers, shall execute proper instruments acknowledging the same), except for the following
provisions which shall survive until otherwise terminated or discharged hereunder:

     (i) the rights of Holders of outstanding Notes to receive, solely from the trust fund
described in Section 8.04, and as more fully set forth in such Section 8.04, payments in
respect of the principal of, premium, if any, and interest on such Notes when such payments
are due;

     (ii) the Issuers’ obligations with respect to such Notes concerning issuing temporary
Notes, registration of Notes, mutilated, destroyed, lost or stolen Notes and Section 4.02
hereof;

     (iii) the rights, powers, trusts, duties and immunities of the Trustee, and the
Issuers’ obligations in connection therewith; and

     (iv) the provisions of this Article Eight applicable to Legal Defeasance.

     Subject to compliance with this Article Eight, the Issuers may exercise their option under
this Section 8.02(b) notwithstanding the prior exercise of its option under Section 8.02(c).

     (c) Upon the Issuers’ exercise under Section 8.02(a) hereof of the option applicable to this
Section 8.02(c), the Issuers and the Guarantors shall, subject to the satisfaction of the
conditions set forth in Section 8.03, be released from their respective obligations under the
covenants contained in Sections 4.03 (other than with respect to the legal existence of the
Issuers), 4.04, 4.07 through 4.16 and clause (3)

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of Section 5.01(a) with respect to the outstanding Notes on and after the date the conditions
set forth in Section 8.03 are satisfied (hereinafter, “Covenant Defeasance”), and the 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 Issuers and the
Guarantors 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 an Event of Default under Section 6.01, but, except as specified above, the remainder of
this Indenture and such Notes shall be unaffected thereby. In addition, upon the Issuers’ exercise
under paragraph (a) hereof of the option applicable to this paragraph (c), subject to the
satisfaction of the conditions set forth in Section 8.03, clauses (3), (4), (5), (6) and (7) of
Section 6.01 shall not constitute Events of Default.

     SECTION 8.03. Conditions to Legal Defeasance or Covenant Defeasance. The following shall be the
conditions to the application of either Section 8.02(b) or 8.02(c) hereof to the outstanding Notes:

     (1) the Issuers shall irrevocably deposit with the Trustee, in trust, for the benefit
of the Holders, U.S. Legal Tender, U.S. Government Obligations or a combination thereof, in
such amounts as will be sufficient (without reinvestment), in the opinion of a nationally
recognized firm of independent public accountants selected by the Issuers, to pay the
principal of and interest and premium, if any, on the Notes on the stated date for payment
or on the redemption date of the Notes;

     (2) in the case of Legal Defeasance, the Issuers shall have delivered to the Trustee an
Opinion of Counsel in the United States of America confirming that:

     (a) the Issuers have received from, or there has been published by the Internal
Revenue Service, a ruling, or

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

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

     (3) in the case of Covenant Defeasance, the Issuers shall have delivered to the Trustee
an Opinion of Counsel in the United States of America reasonably acceptable to the Trustee
confirming that the Holders and beneficial owners will not recognize income, gain or loss
for U.S. Federal income tax purposes as a result of such Covenant Defeasance and will be
subject to U.S. Federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such Covenant Defeasance had not occurred;

     (4) no Default shall have occurred and be continuing on the date of such deposit (other
than a Default resulting from the borrowing of funds to be applied to such deposit and any

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similar and simultaneous deposit relating to other Indebtedness and, in each case, the
granting of Liens on the deposited funds in connection therewith);

     (5) the Legal Defeasance or Covenant Defeasance shall not result in a breach or
violation of, or constitute a default under any other material agreement or instrument
(other than this Indenture) to which the Parent or any of its Subsidiaries is a party or by
which the Parent or any of its Subsidiaries is bound (other than any such Default or default
relating to any Indebtedness being defeased from any borrowing of funds to be applied to
such deposit and any similar and simultaneous deposit relating to such Indebtedness, and the
granting of Liens on the deposited funds in connection therewith);

     (6) the Issuers shall have delivered to the Trustee an Officer’s Certificate stating
that the deposit was not made by them with the intent of preferring the Holders over any
other creditors of the Issuers or with the intent of defeating, hindering, delaying or
defrauding any other of their creditors or others; and

     (7) the Issuers shall have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that the conditions provided for in, in the case of the
Officer’s Certificate, clauses (1) through (6), as applicable, and, in the case of the
Opinion of Counsel, clauses (2), if applicable, and/or (3) and (5) of this Section 8.03 have
been complied with.

     SECTION 8.04. Application of Trust Money. Subject to Section 8.05, the Trustee or Paying Agent
shall hold in trust all U.S. Legal Tender and U.S. Government Obligations deposited with it
pursuant to this Article Eight, and shall apply the deposited U.S. Legal Tender and the money from
U.S. Government Obligations in accordance with this Indenture to the payment of the principal of
and the interest on the Notes. The Trustee shall be under no obligation to invest said U.S. Legal
Tender and U.S. Government Obligations, except as it may agree with the Issuers.

     The Issuers shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the U.S. Legal Tender and U.S. Government Obligations deposited pursuant to
Section 8.03 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 Eight to the contrary notwithstanding, the Trustee shall deliver or
pay to the Issuers from time to time upon the Issuers’ request any U.S. Legal Tender and U.S.
Government Obligations held by it as provided in Section 8.03 which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee, are in excess of the amount thereof that would then be required to be
deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

     SECTION 8.05. Repayment to the Issuers. The Trustee and the Paying Agent shall pay to the Issuers
upon request any money held by them for the payment of principal or interest that remains unclaimed
for two years. After payment to the Issuers, Holders entitled to such money shall look to the
Issuers for payment as general creditors unless an applicable law designates another Person.

     SECTION 8.06. Reinstatement. If the Trustee or Paying Agent is unable to apply any U.S. Legal
Tender and U.S. Government Obligations in accordance with this Article Eight 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 Issuers’ obligations under this
Indenture, and the Notes and the Guarantees shall be revived and reinstated as though no deposit
had occurred pursuant to this Article Eight until such time as the Trustee or Paying Agent is
permitted to apply all such U.S. Legal

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Tender and U.S. Government Obligations in accordance with this Article Eight; provided that if
the Issuers have made any payment of interest on, or principal of, any Notes because of the
reinstatement of its obligations, the Issuers shall be subrogated to the rights of the Holders of
such Notes to receive such payment from the U.S. Legal Tender and U.S. Government Obligations held
by the Trustee or Paying Agent.

ARTICLE NINE

Amendments, Supplements and Waivers

     SECTION 9.01. Without Consent of Holders.

     (a) The Parent, the Issuers, the Guarantors and the Trustee, together, may amend or supplement
this Indenture, the Notes or the Guarantees without notice to or consent of any Holder:

     (1) to cure any ambiguity, omission, defect or inconsistency;

     (2) to provide for the assumption by a successor corporation of the obligations of the
Parent, the Issuers or any Subsidiary Guarantor under this Indenture;

     (3) to provide for uncertificated Notes in addition to or in place of certificated
Notes;

     (4) to add Guarantees with respect to the Notes or to secure the Notes;

     (5) to add to the covenants of the Parent, the Issuers or a Restricted Subsidiary for
the benefit of the Holders or to surrender any right or power conferred upon the Parent, the
Issuers or a Restricted Subsidiary;

     (6) to make any change that does not adversely affect the rights of any Holder, as
evidenced by an Officer’s Certificate delivered to the Trustee (upon which it may fully
rely);

     (7) to comply with any requirement of the SEC in order to effect or maintain the
qualification of this Indenture under the Trust Indenture Act;

     (8) to make any amendment to the provisions of this Indenture relating to the transfer
and legending of Notes; provided, however, that (a) compliance with this Indenture as so
amended would not result in Notes being transferred in violation of the Securities Act or
any other applicable securities law and (b) such amendment does not materially and adversely
affect the rights of Holders to transfer Notes;

     (9) to conform the text of this Indenture or the Guarantees or the Notes to any
provision of the “Description of notes” section of the Offering Memorandum to the extent
that such provision in the “Description of notes” section of the Offering Memorandum was
intended to be a substantially verbatim recitation of a provision of this Indenture or the
Guarantees or the Notes, as evidenced by an Officer’s Certificate delivered to the Trustee
(upon which it may fully rely);

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

     (11) provide for a reduction in the minimum denominations of the Notes;

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     (12) comply with the rules of any applicable securities depositary; or

     (13) to provide for the issuance of Additional Notes and related guarantees in
accordance with the limitations set forth in this Indenture.

     SECTION 9.02. With Consent of Holders.

     (a) Subject to Section 6.07, the Issuers, the Guarantors and the Trustee, together, with the
consent of the Holder or Holders of not less than a majority in aggregate principal amount of the
outstanding Notes may amend or supplement this Indenture, the Notes or the Guarantees, without
notice to any other Holders. Subject to Sections 6.07, the Holder or Holders of not less than a
majority in aggregate principal amount of the outstanding Notes may waive compliance with any
provision of this Indenture, the Notes or the Guarantees without notice to any other Holders.

     (b) Notwithstanding Section 9.02(a), without the consent of each Holder affected, no amendment
or waiver may:

     (1) change the Stated Maturity of the principal of, or any installment of interest on,
any Note;

     (2) reduce the principal amount of, or premium, if any, or interest on, any Note;

     (3) change the place of payment of principal of, or premium, if any, or interest on,
any Note;

     (4) impair the right to institute suit for the enforcement of any payment on or after
the Stated Maturity (or, in the case of a redemption, on or after the Redemption Date) of
any Note;

     (5) reduce the above-stated percentages of outstanding Notes the consent of whose
Holders is necessary to modify or amend this Indenture;

     (6) waive a default in the payment of principal of, premium, if any, or interest on the
Notes (except a rescission of the declaration of acceleration of the Notes by the Holders of
at least a majority in aggregate principal amount of the Notes then outstanding and a waiver
of the payment default that resulted from such acceleration, so long as all other existing
Events of Default, other than the nonpayment of the principal of, premium, if any, and
interest on the Notes that have become due solely by such declaration of acceleration, have
been cured or waived);

     (7) voluntarily release a Guarantor of the Notes, except as permitted by this
Indenture;

     (8) reduce the percentage or aggregate principal amount of outstanding Notes the
consent of whose Holders is necessary for waiver of compliance with Sections 6.02 and 6.04;
or

     (9) modify or change any provisions of this Indenture affecting the ranking of the
Notes as to right of payment or the Guarantees thereof in any manner adverse to the Holders
of the Notes.

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     (c) It shall not be necessary for the consent of the Holders under this Section 9.02 to
approve the particular form of any proposed amendment, supplement or waiver but it shall be
sufficient if such consent approves the substance thereof.

     (d) A consent to any amendment, supplement or waiver under this Indenture by any Holder given
in connection with an exchange (in the case of an exchange offer) or a tender (in the case of a
tender offer) of such Holder’s Notes shall not be rendered invalid by such tender or exchange.

     (e) After an amendment, supplement or waiver under this Section 9.02 becomes effective, the
Issuers shall mail to the Holders affected thereby a notice briefly describing the amendment,
supplement or waiver. Any failure of the Issuers to give such notice to all Holders, or any defect
therein, shall not, however, in any way impair or affect the validity of any such amendment,
supplement or waiver.

     SECTION 9.03. Compliance with the Trust Indenture Act. From the date on which this Indenture is
qualified under the Trust Indenture Act, every amendment, waiver or supplement of this Indenture,
the Notes or the Guarantees shall comply with the Trust Indenture Act as then in effect.

     SECTION 9.04. Revocation and Effect of Consents. Until an amendment, waiver or supplement becomes
effective, a consent to it by a Holder is a continuing consent by the Holder 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 or subsequent
Holder may revoke the consent as to his Note or portion of his Note by notice to the Trustee or the
Issuers received before the date on which the Trustee receives an Officer’s Certificate certifying
that the Holders of the requisite principal amount of Notes have consented (and not theretofore
revoked such consent) to the amendment, supplement or waiver.

     The Issuers 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, which record
date shall be at least 30 days prior to the first solicitation of such consent. If a record date
is fixed, then notwithstanding the last sentence of the immediately preceding paragraph, those
Persons who were Holders at such record date (or their duly designated proxies), and only those
Persons, shall be entitled 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 90 days after such record date. The Issuers shall inform the Trustee in writing of the
fixed record date if applicable.

     After an amendment, supplement or waiver becomes effective, it shall bind every Holder, unless
it makes a change described in any of clauses (1) through (9) of Section 9.02(b), in which case,
the amendment, supplement or waiver shall bind only each Holder of a Note who has consented to it
and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the
consenting Holder’s Note; provided, however, that any such waiver shall not impair or affect the
right of any Holder to receive payment of principal of, and interest on, a Note, on or after the
respective due dates therefor, or to bring suit for the enforcement of any such payment on or after
such respective dates without the consent of such Holder.

     SECTION 9.05. Notation on or Exchange of Notes. If an amendment, supplement or waiver changes the
terms of a Note, the Issuers may require the Holder of the Note to deliver it to the Trustee. The
Issuers shall provide the Trustee with an appropriate notation on the Note about the changed terms
and cause the Trustee to return it to the Holder at the Issuers’ expense. Alternatively, if the
Issuers or the Trustee so determines, the Issuers in exchange for the Note shall issue, and the
Trustee shall authenticate, a new Note that reflects the changed terms. Failure to make the
appropriate notation or issue a new Note shall not affect the validity and effect of such
amendment, supplement or waiver.

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     SECTION 9.06. Trustee To Sign Amendments, Etc. The Trustee shall execute any amendment, supplement
or waiver authorized pursuant to this Article Nine; provided, however, that the Trustee may, but
shall not be obligated to, execute any such amendment, supplement or waiver which affects the
Trustee’s own rights, duties or immunities under this Indenture. The Trustee shall be entitled to
receive, and shall be fully protected in relying upon, an Opinion of Counsel and an Officer’s
Certificate each stating that the execution of any amendment, supplement or waiver authorized
pursuant to this Article Nine is authorized or permitted by this Indenture, all conditions
precedent thereto have been compiled with and constitutes legal, valid and binding obligations of
the Issuers enforceable in accordance with its terms, subject to customary exceptions. Such
Opinion of Counsel shall be at the expense of the Issuers.

ARTICLE TEN

Guarantee

     SECTION 10.01. Guarantee. Subject to this Article Ten, each of the Guarantors hereby, jointly and
severally, unconditionally guarantees on a senior unsecured basis 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 Issuers hereunder or thereunder, that: (a) the principal of and interest 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 Issuers 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.

     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 Issuers, any
action to enforce the same or any other circumstance which might otherwise constitute a legal or
equitable discharge or defense of a guarantor. Subject to Section 6.06 hereof, each Guarantor
hereby waives, to the extent permitted by applicable law, diligence, presentment, demand of
payment, filing of claims with a court in the event of insolvency or bankruptcy of the Issuers, any
right to require a proceeding first against the Issuers, protest, notice and all demands whatsoever
and covenant that this Guarantee shall not be discharged except by complete performance of the
obligations contained in the Notes and this Indenture.

     If any Holder or the Trustee is required by any court or otherwise to return to the Issuers,
the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation
to either the Issuers or the Guarantors, any amount paid by 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 Six hereof for the purposes
of this Guarantee, notwithstanding any stay,

-72-

 

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 Six hereof, such obligations (whether or not due and payable) shall forthwith
become due and payable by the Guarantors for the purpose of this Guarantee.

     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 such
Guarantor 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 Ten, result in
the obligations of such Guarantor under its Guarantee not constituting a fraudulent transfer or
conveyance. Each Guarantor that makes a payment for distribution under its Guarantee is entitled
to a contribution from each other Guarantor in a pro rata amount based on the adjusted net assets
of each Guarantor.

     SECTION 10.03. Execution and Delivery of Guarantee. To evidence its Guarantee set forth in Section
10.01, each Guarantor hereby agrees that a notation of such Guarantee substantially in the form
included in Exhibit D shall be endorsed by an Officer of such Guarantor on each Note
authenticated and delivered by the Trustee and that this Indenture shall be executed on behalf of
such Guarantor by an Officer.

     Each Guarantor hereby agrees that its Guarantee set forth in Section 10.01 shall remain in
full force and effect notwithstanding any failure to endorse on each Note a notation of such
Guarantee.

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

     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.

     SECTION 10.04. Release of a Guarantor. A Guarantor shall be automatically and unconditionally
released from its obligations under its Guarantee and its obligations under this Indenture and the
Registration Rights Agreement in the event of:

     (1) any sale, exchange or transfer, to any Person not a Subsidiary of the Parent of
Capital Stock held by the Parent and its Restricted Subsidiaries in, or all or substantially
all the assets of, such Restricted Subsidiary (which sale, exchange or transfer is not
prohibited by this Indenture), such that, immediately after giving effect to such
transaction, such Restricted Subsidiary would no longer constitute a Subsidiary of the
Parent,

     (2) in connection with the merger or consolidation of a Subsidiary Guarantor with (a)
an Issuer or (b) any other Guarantor (provided that the surviving entity remains a
Guarantor),

     (3) if Parent properly designates any Restricted Subsidiary that is a Guarantor as an
Unrestricted Subsidiary,

-73-

 

     (4) upon the Legal Defeasance or Covenant Defeasance or satisfaction and discharge of
this Indenture,

     (5) upon a liquidation or dissolution of a Subsidiary Guarantor permitted under this
Indenture, or

     (6) the release or discharge of the Guarantee that resulted in the creation of such
Subsidiary Guarantee, except a discharge or release by or as a result of payment under such
Guarantee.

     The Trustee may execute an appropriate instrument prepared by the Issuers evidencing the
release of a Guarantor from its obligations under its Guarantee and this Indenture upon receipt of
a request by the Issuers or such Guarantor accompanied by an Officer’s Certificate and an Opinion
of Counsel certifying as to the compliance with this Section 10.04; provided, however, that the
legal counsel delivering such Opinion of Counsel may rely as to matters of fact on one or more
Officer’s Certificates of the Issuers.

     Nothing contained in this Indenture or in any of the Notes shall prevent any consolidation or
merger of a Guarantor with or into an Issuer (in which case such Guarantor shall no longer be a
Guarantor) or another Guarantor or shall prevent any sale or conveyance of the property of a
Guarantor as an entirety or substantially as an entirety to an Issuer or another Guarantor.

ARTICLE ELEVEN

Miscellaneous

     SECTION 11.01. Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies,
or conflicts with another provision which is required or deemed to be included in this Indenture by
the Trust Indenture Act, such required or deemed provision shall control.

     SECTION 11.02. Notices. Any notices or other communications required or permitted hereunder shall be
in writing, and shall be sufficiently given if made by hand delivery, by telex, by nationally
recognized overnight courier service, by telecopy or email or registered or certified mail, postage
prepaid, return receipt requested, addressed as follows:

     If to the Issuers:

MPT Operating Partnership, L.P.

MPT Finance Corporation

c/o Medical Properties Trust, Inc.

1000 Urban Center Drive, Suite 501

Birmingham, AL 35242

Facsimile: (205) 969-3756

Attention: R. Steven Hamner

By e-mail: shamner@medicalpropertiestrust.com

-74-

 

     with a copy to:

Goodwin Procter LLP

53 State Street

Boston, MA 02109

Facsimile: (617) 523-1231

Attention: James P.C. Barri, Esq.

By e-mail: jbarri@goodwinprocter.com

     If to Parent or any other Guarantor:

Medical Properties Trust, Inc.

1000 Urban Center Drive, Suite 501

Birmingham, AL 35242

Facsimile: (205) 969-3756

Attention: R. Steven Hamner

By e-mail: shamner@medicalpropertiestrust.com

     with a copy to:

Goodwin Procter LLP

53 State Street

Boston, MA 02109

Facsimile: (617) 523-1231

Attention: James P.C. Barri, Esq.

By e-mail: jbarri@goodwinprocter.com

     if to the Trustee:

Wilmington Trust Company

Rodney Square North

1100 N. Market Street

Wilmington, DE 19890-0001

Attention: Corporate Trust Administration

Telephone: (302) 636-6398

Facsimile: (302) 636-4145

via email to MWass@WilmingtonTrust.com

     Each of the Issuers and the Trustee by written notice to each other such Person may designate
additional or different addresses for notices to such Person. Any notice or communication to the
Issuers and the Trustee shall be deemed to have been given or made as of the date so delivered if
personally delivered; when replied to; when receipt is acknowledged, if telecopied; five (5)
calendar days after mailing if sent by registered or certified mail, postage prepaid (except that a
notice of change of address shall not be deemed to have been given until actually received by the
addressee); and next Business Day if by nationally recognized overnight courier service.

     Any notice or communication mailed to a Holder shall be mailed to him by first class mail or
other equivalent means at his address as it appears on the registration books of the Registrar and
shall be sufficiently given to him if so mailed within the time prescribed.

-75-

 

     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. If a notice or communication is mailed in the manner
provided above, it is duly given, whether or not the addressee receives it.

     SECTION 11.03. Communications by Holders with Other Holders. Holders may communicate pursuant to
Trust Indenture Act § 312(b) with other Holders with respect to their rights under this Indenture,
the Notes or the Guarantees. The Issuers, the Trustee, the Registrar and any other Person shall
have the protection of Trust Indenture Act § 312(c).

     SECTION 11.04. Certificate and Opinion as to Conditions Precedent. Upon any request or application
by the Issuers to the Trustee to take any action under this Indenture, the Issuers shall furnish to
the Trustee at the request of the Trustee:

     (1) an Officer’s Certificate, in form and substance satisfactory to the Trustee,
stating that, in the opinion of the signers, all conditions precedent to be performed or
effected by the Issuers, if any, provided for in this Indenture relating to the proposed
action have been complied with; and

     (2) an Opinion of Counsel stating that, in the opinion of such counsel, all such
conditions precedent have been complied with.

     SECTION 11.05. Statements Required in Certificate or Opinion. Each certificate or opinion with
respect to compliance with a condition or covenant provided for in this Indenture, other than the
Officer’s Certificate required by Section 4.05, shall include:

     (1) a statement that the Person making such certificate or opinion has read such
covenant or condition;

     (2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;

     (3) a statement that, in the opinion of such Person, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or
not such covenant or condition has been complied with or satisfied; and

     (4) a statement as to whether or not, in the opinion of each such Person, such
condition or covenant has been complied with; provided, however, that with respect to
matters of fact, an Opinion of Counsel may rely on an Officer’s Certificate or certificates
of public officials.

     SECTION 11.06. Rules by Paying Agent or Registrar. The Paying Agent or Registrar may make reasonable
rules and set reasonable requirements for their functions.

     SECTION 11.07. Legal Holidays. If a Payment Date is not a Business Day, payment may be made on the
next succeeding day that is a Business Day.

     SECTION 11.08. Governing Law; Waiver of Jury Trial. This Indenture, the Notes and the Guarantees
will be governed by and construed in accordance with the laws of the State of New York. Each of
the parties hereto 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, the Guarantees or the transaction contemplated hereby.

-76-

 

     SECTION 11.09. No Adverse Interpretation of Other Agreements. This Indenture may not be used to
interpret another indenture, loan or debt agreement of any of the Issuers or any of their
Subsidiaries. Any such indenture, loan or debt agreement may not be used to interpret this
Indenture.

     SECTION 11.10. No Recourse Against Others. No recourse for the payment of the principal of, premium,
if any, or interest on any of the Notes or for any claim based thereon or otherwise in respect
thereof, and no recourse under or upon any obligation, covenant or agreement of the Issuers or the
Guarantors in this Indenture, or in any of the Notes or Guarantees or because of the creation of
any Indebtedness represented hereby, shall be had against any incorporator, stockholder, officer,
director, employee or controlling person of the Issuers or the Guarantors or of any successor
Person thereof. Each Holder, by accepting the Notes, waives and releases all such liability. Such
waiver and release are part of the consideration for issuance of the Notes.

     SECTION 11.11. Successors. All agreements of the Issuers and the Subsidiary Guarantors in this
Indenture, the Notes and the Guarantees shall bind their respective successors. All agreements of
the Trustee in this Indenture shall bind its successor.

     SECTION 11.12. Duplicate Originals. All parties may sign any number of copies of this Indenture.
Each signed copy or counterpart shall be an original, but all of them together shall represent the
same agreement. Delivery of an executed counterpart of a signature page to this Indenture by
facsimile, .pdf transmission, email or other electronic means shall be effective as delivery of a
manually executed counterpart of this Indenture.

     SECTION 11.13. Severability. To the extent permitted by applicable law, in case any one or more of
the provisions in this Indenture, in the Notes or in the Guarantees shall be held invalid, illegal
or unenforceable, in any respect for any reason, the validity, legality and enforceability of any
such provision in every other respect and of the remaining provisions shall not in any way be
affected or impaired thereby, it being intended that all of the provisions hereof shall be
enforceable to the full extent permitted by law.

     SECTION 11.14. 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.

     SECTION 11.15. Force Majeure. In no event shall the Trustee be responsible or liable for any failure
or delay in the performance of its obligations hereunder arising out of or caused by, directly or
indirectly, forces beyond its control, including without limitation, strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions or utilities, communications
or computer (software and hardware) services; it being understood that the Trustee shall use
reasonable efforts which are consistent with accepted practices in the banking industry to resume
performance as soon as practicable under the circumstances.

[signature pages follow]

-77-

 

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

					
	 	

MPT OPERATING PARTNERSHIP, L.P.,
as Issuer,

BY: MEDICAL PROPERTIES TRUST, LLC,
ITS GENERAL PARTNER
 

					
	 	

BY: MEDICAL PROPERTIES TRUST, INC.,
 ITS SOLE MEMBER
 

					
	 	
 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President and
 Chief Financial Officer 	 
	 
	 	MPT FINANCE CORPORATION,
as Issuer,

 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	President, Secretary and General Manager 
	 
	 	MEDICAL PROPERTIES TRUST, INC.,
as Parent and a Guarantor,

 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President and
 Chief Financial Officer 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	 MPT OF VICTORVILLE, LLC

MPT OF BUCKS COUNTY, LLC

MPT OF BLOOMINGTON, LLC

MPT OF COVINGTON, LLC

MPT OF DENHAM SPRINGS, LLC

MPT OF REDDING, LLC

MPT OF CHINO, LLC

MPT OF SHERMAN OAKS, LLC

MPT OF DALLAS LTACH, LLC

MPT OF PORTLAND, LLC

MPT OF WARM SPRINGS, LLC

MPT OF VICTORIA, LLC

MPT OF LULING, LLC

MPT OF HUNTINGTON BEACH, LLC

MPT OF WEST ANAHEIM, LLC

MPT OF LA PALMA, LLC

MPT OF PARADISE VALLEY, LLC

MPT OF SOUTHERN CALIFORNIA, LLC

MPT OF TWELVE OAKS, LLC

MPT OF SHASTA, LLC

MPT OF WEBSTER, LLC

MPT OF TUCSON, LLC

MPT OF BOSSIER CITY, LLC

MPT OF WEST VALLEY CITY, LLC

MPT OF IDAHO FALLS, LLC

MPT OF POPLAR BLUFF, LLC

MPT OF BENNETTSVILLE, LLC

MPT OF DETROIT, LLC

MPT OF BRISTOL, LLC

MPT OF NEWINGTON, LLC

MPT OF ENFIELD, LLC

MPT OF PETERSBURG, LLC

MPT OF FAYETTEVILLE, LLC

4499 ACUSHNET AVENUE, LLC

8451 PEARL STREET, LLC

MPT OF GARDEN GROVE HOSPITAL, LLC

MPT OF GARDEN GROVE MOB, LLC

MPT OF SAN DIMAS HOSPITAL, LLC

MPT OF SAN DIMAS MOB, LLC

MPT OF CHERAW, LLC

MPT OF FT. LAUDERDALE, LLC.

MPT OF PROVIDENCE, LLC

MPT OF SPRINGFIELD, LLC

MPT OF WARWICK, LLC

MPT OF RICHARDSON, LLC

MPT OF ROUND ROCK, LLC

MPT OF SHENANDOAH, LLC

MPT OF HILLSBORO, LLC

MPT OF FLORENCE, LLC

 	 
	 	 	 
	 	 	 
	 	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	MPT OF CLEAR LAKE, LLC

MPT OF TOMBALL, LLC

MPT OF GILBERT, LLC

MPT OF CORINTH, LLC

MPT OF BAYONNE, LLC

MPT OF ALVARADO, LLC

MPT OF MORGANTOWN, LLC

 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
sole member of each of the above entities
 	 

					
	 	
 	 
	 	By:  	            MEDICAL PROPERTIES TRUST, LLC,
its general partner
 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 

					
	 	
 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President and

Chief Financial Officer 

 

 

	 	 	 	 	 

					
	 	
MPT OF BUCKS COUNTY, L.P.

 	 
	 	By:  	MPT OF BUCKS COUNTY, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF DALLAS LTACH, L.P.

 	 
	 	By:  	MPT OF DALLAS LTACH, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	                   MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC
its sole member
 	 

					
	 	

MPT OF WARM SPRINGS, L.P.

 	 
	 	By:  	MPT OF WARM SPRINGS, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	                   MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	                  MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF VICTORIA, L.P.

 	 
	 	By:  	MPT OF VICTORIA, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 
	 	 	 	 
	 	 	 	 

 

 

	 	 	 	 	 

					
	 	MPT OF LULING, L.P.

 	 
	 	By:  	MPT OF LULING, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF HUNTINGTON BEACH, L.P.

 	 
	 	By:  	MPT OF HUNTINGTON BEACH, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF WEST ANAHEIM, L.P.

 	 
	 	By:  	MPT OF WEST ANAHEIM, LLC, its general partner
 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 
	 

					
	 	

MPT OF LA PALMA, L.P.

 	 
	 	By:  	MPT OF LA PALMA, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 
	 	 	 	 
	 	 	 	 

 

 

					
	 	

MPT OF PARADISE VALLEY, L.P.

 	 
	 	By:  	MPT OF PARADISE VALLEY, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF SOUTHERN CALIFORNIA, L.P.

 	 
	 	By:  	MPT OF SOUTHERN CALIFORNIA, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF TWELVE OAKS, L.P.

 	 
	 	By:  	MPT OF TWELVE OAKS, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF SHASTA, L.P.

 	 
	 	By:  	MPT OF SHASTA, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 
	 	 	 	 
	 	 	 	 

 

 

					
	 	

MPT OF WEBSTER, L.P.

 	 
	 	By:  	MPT OF WEBSTER, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF GARDEN GROVE HOSPITAL, L.P.

 	 
	 	By:  	MPT OF GARDEN GROVE HOSPITAL, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF GARDEN GROVE MOB, L.P.

 	 
	 	By:  	MPT OF GARDEN GROVE MOB, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF SAN DIMAS HOSPITAL, L.P.

 	 
	 	By:  	MPT OF SAN DIMAS HOSPITAL, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

 

 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 
	 	 	 	 

					
	 	

MPT OF SAN DIMAS MOB, L.P.

 	 
	 	By:  	MPT OF SAN DIMAS MOB, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF RICHARDSON, L.P.

 	 
	 	By:  	MPT OF RICHARDSON, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF ROUND ROCK, L.P.

 	 
	 	By:  	MPT OF ROUND ROCK, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF SHENANDOAH, L.P.

 	 
	 	By:  	MPT OF SHENANDOAH, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

 

 

					
	 	
 	 
	 	By:  	                   MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 
	 	 	 	 
	 	 	 	 

					
	 	

MPT OF HILLSBORO, L.P.

 	 
	 	By:  	MPT OF HILLSBORO, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	                   MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF CLEAR LAKE, L.P.

 	 
	 	By:  	MPT OF CLEAR LAKE, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF TOMBALL, L.P.

 	 
	 	By:  	MPT OF TOMBALL, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF CORINTH, L.P.

 	 
	 	By:  	MPT OF CORINTH, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

 

 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF ALVARADO, L.P.

 	 
	 	By:  	MPT OF ALVARADO, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	
 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President

and Chief Financial Officer 	 

 

 

					
	 	

MOUNTAIN VIEW — MPT HOSPITAL, LLC

 	 
	 	By:  	MPT OF IDAHO FALLS, LLC, its managing member
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	
 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President

and Chief Financial Officer 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	WILMINGTON TRUST COMPANY, as Trustee,

 	 
	 	By:  	/s/ Michael H. Wass
 	 
	 	 	Name:  	Michael H. Wass 	 
	 	 	Title:  	Senior Financial Services Officer 	 

 

 

	 	 	 	 	 

EXHIBIT A

[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]

MPT OPERATING PARTNERSHIP, L.P.

MPT FINANCE CORPORATION

6.875% Senior Notes due 2021

CUSIP No.

No. [ ] $[ ]

     MPT OPERATING PARTNERSHIP, L.P., a Delaware limited partnership, and MPT FINANCE CORPORATION,
a Delaware corporation (the “Issuers”), for value received promise to pay to Cede & Co., or
its registered assigns, the principal sum of [ ] DOLLARS [or such other amount as is
provided in a schedule attached hereto]a on April 26, 2021.

     Interest Payment Dates May 1 and November 1, commencing November 1, 2011.

     Record Dates: April 15 and October 15.

     Reference is made to the further provisions of this Note contained herein, which will for all
purposes have the same effect as if set forth at this place.

     IN WITNESS WHEREOF, the Issuers have caused this Note to be signed manually or by facsimile by
its duly authorized officer.

Dated:

	 	 	 	 	 
	 	MPT OPERATING PARTNERSHIP, L.P.,

MPT FINANCE CORPORATION,

as Issuers,

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	a	 	This language should be included only if the
Note is issued in global form.

A-1

 

[FORM OF] TRUSTEE’S CERTIFICATE OF AUTHENTICATION

     This is one of the 6.875% Senior Notes due 2021 described in the within-mentioned Indenture.

Dated:

	 	 	 	 	 
	 	WILMINGTON TRUST COMPANY,

as Trustee,

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

A-2

 

	 	 	 	 	 

(Reverse of Note)

6.875% Senior Notes due 2021

     Capitalized terms used herein shall have the meanings assigned to them in the Indenture
referred to below unless otherwise indicated.

     SECTION 1. Interest. MPT Operating Partnership, L.P., a Delaware limited partnership,
and MPT Finance Corporation, a Delaware corporation (the “Issuers”), promise to pay interest on the
principal amount of this Note at 6.875% per annum from April 26, 2011, until maturity. The Issuers
will pay interest semi-annually on May 1 and November 1of each year, or if any such day is not a
Business Day, on the next succeeding Business Day (each an “Interest Payment Date”), commencing
November 1, 2011. 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 April 26, 2011. The Issuers shall pay
interest on overdue principal and premium, if any, from time to time on demand to the extent lawful
at the interest rate applicable to the Notes; it shall pay interest on overdue installments of
interest (without regard to any applicable grace periods) from time to time on demand at the same
rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve
30-day months. [As more fully set forth therein, the Registration Rights Agreement provides that
the Issuers will pay Additional Interest to each Holder under certain circumstances. All accrued
Additional Interest shall be paid to Holders in the same manner as interest payments on the Notes
on semi-annual payment dates that correspond to Interest Payment Dates for the Notes. All
references in this Note to interest shall be deemed to include any Additional Interest payable
pursuant to the Registration Rights Agreement.]a

     SECTION 2. Method of Payment. The Issuers will pay interest on the Notes to the
Persons who are registered Holders at the close of business on the April 15 or October 15 next
preceding the 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 Section 2.12 of the Indenture with
respect to defaulted interest. The Notes will be issued in denominations of $2,000 and integral
multiples of $1,000 in excess thereof. The Issuers shall pay principal, premium, if any, and
interest on the Notes 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 (“U.S. Legal Tender”). Principal,
premium, if any, and interest on the Notes will be payable at the office or agency of the Issuers
maintained for such purpose except that, at the option of the Issuers, the payment of interest may
be made by check mailed to the Holders at their respective addresses set forth in the register of
Holders of Notes. Until otherwise designated by the Issuers, the Issuers’ office or agency will be
the office of the Trustee maintained for such purpose.

     SECTION 3. Paying Agent and Registrar. Initially, Wilmington Trust Company, the
Trustee under the Indenture, will act as Paying Agent and Registrar. The Issuers may change any
Paying Agent or Registrar without notice to any Holder. Except as provided in the Indenture, the
Issuers or any of their Subsidiaries may act in any such capacity.

     SECTION 4. Indenture. The Issuers issued the Notes under an Indenture dated as of
April 26, 2011 (“Indenture”) by and among the Issuers, Medical Properties Trust, Inc., a Maryland
corporation, the other Guarantors and the Trustee. Subject to the terms of the Indenture, the
Issuers shall be entitled to

 

			
	a	 	To be removed from the Exchange Note.

A-3

 

issue Additional Notes pursuant to Section 2.01 of the Indenture. The terms of the Notes
include those stated in the Indenture and those made part of the Indenture by reference to the
Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb) (the “Trust Indenture Act”).
The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust
Indenture Act for a statement of such terms. 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.

     SECTION 5. Optional Redemption. Prior to May 1, 2016, the Issuers will be entitled at
their option to redeem all or any portion of the Notes at a redemption price equal to 100% of the
principal amount of such Notes plus the Applicable Premium as of, and any accrued and unpaid
interest to, but not including, the Redemption Date (subject to the right of each Holder on the
relevant Record Date to receive interest due on the relevant Interest Payment Date).

     On or after May 1, 2016, the Issuers may redeem the Notes in whole or from time to time in
part, at the redemption prices (expressed as percentages of the principal amount thereof) set forth
below, plus accrued and unpaid interest thereon to, but not including, the Redemption Date (subject
to the right of Holders of record on the relevant record date to receive interest due on the
relevant Interest Payment Date), if redeemed during the 12-month period beginning on May 1 of each
of the years indicated below:

	 	 	 	 	 
	Year	 	Percentage	 
	2016
	 	 	103.438	%
	2017
	 	 	102.292	%
	2018
	 	 	101.146	%
	2019 and thereafter
	 	 	100.000	%

     SECTION 6. Optional Redemption upon Equity Offerings. At any time prior to May 1,
2014, the Issuers may redeem, on any one or more occasions, with all or a portion of the net cash
proceeds of one or more Equity Offerings (within 60 days of the consummation of any such Equity
Offering), up to 35% of the aggregate principal amount of the Notes (including any Additional
Notes) at a redemption price (expressed as a percentage of the aggregate principal amount of the
Notes so redeemed) equal to 106.875% plus accrued and unpaid interest to but not including, the
Redemption Date (subject to the right of holders of record on the relevant record date to receive
interest due on the relevant interest payment date); provided, however, that at least 65% of the
original aggregate principal amount of the Notes must remain outstanding immediately after each
such redemption.

     SECTION 7. Notice of Redemption. Subject to Section 3.03 of the Indenture, notice of
any optional redemption of any Notes will be given to holders at their addresses, as shown in the
Notes register, not more than 60 nor less than 30 days prior to the date fixed for redemption. The
notice of redemption will specify, among other items, the redemption price and the principal amount
of the Notes held by the holder to be redeemed. No Notes of $2,000 or less shall be redeemed in
part. On and after the Redemption Date interest ceases to accrue on Notes or portions thereof
called for redemption subject to Section 3.04 of the Indenture.

     SECTION 8. Mandatory Redemption and Special Mandatory Redemption. The Issuers shall
not be required to make mandatory redemption or sinking fund payments with respect to the Notes.

     SECTION 9. Repurchase at Option of Holder. Upon the occurrence of a Change of
Control, and subject to certain conditions set forth in the Indenture, the Issuers will be required
to offer to purchase all of the outstanding Notes at a purchase price equal to 101% of the
principal amount thereof, plus accrued and unpaid interest, if any, thereon to the date of
repurchase.

A-4

 

     The Issuers are, subject to certain conditions and exceptions set forth in the Indenture,
obligated to make an offer to purchase Notes at 100% of their principal amount, plus accrued and
unpaid interest, if any, thereon to the date of repurchase, with certain Net Cash Proceeds of
certain sales or other dispositions of assets in accordance with the Indenture.

     SECTION 10. Denominations, Transfer Exchange. The Notes are in registered form
without coupons in 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 Issuers may require a Holder to pay any taxes and fees
required by law or permitted by the Indenture. The Issuers and the Registrar are not required to
transfer or exchange any Note selected for redemption. Also, the Issuers and the Registrar are not
required to transfer or exchange any Notes for a period of 15 days before a selection of Notes to
be redeemed.

     SECTION 11. Persons Deemed Owners. The registered Holder of a Note may be treated as
its owner for all purposes.

     SECTION 12. Amendment, Supplement and Waiver. Subject to certain exceptions, the
Indenture and the Notes may be amended or supplemented with the written consent of the Holders of
at least a majority in aggregate principal amount of the Notes then outstanding, and any existing
Default or compliance with any provision may be waived with the consent of the Holders of a
majority in aggregate principal amount of the Notes then outstanding. Without notice to or consent
of any Holder, the parties thereto may amend or supplement the Indenture, the Notes and the
Guarantees as provided in the Indenture.

     SECTION 13. Defaults and Remedies. If an Event of Default occurs and is continuing
(other than as specified in clauses (8) and (9) of Section 6.01 that occurs with respect to an
Issuer), the Trustee or the Holders of at least 25% in principal amount of the then outstanding
Notes may declare the principal of, premium, if any, and accrued interest on the Notes to be due
and payable immediately in accordance with the provisions of Section 6.02. Notwithstanding the
foregoing, in the case of an Event of Default arising from clause (8) or (9) of Section 6.01, with
respect to an Issuer, all outstanding Notes will become due and payable without further action or
notice. Holders of the Notes may not enforce the Indenture or the Notes except as provided in the
Indenture. Subject to certain limitations, Holders of a majority in principal amount of the then
outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may
withhold from Holders of the Notes notice of any continuing Default if it determines that
withholding notice is in their interest in accordance with Section 7.05. The Holders of a majority
in aggregate principal amount of the Notes then outstanding by notice to the Trustee may on behalf
of the Holders of all of the Notes waive any existing Default and its consequences under the
Indenture except a Default in the payment of principal of, or interest on, any Note as specified in
Section 6.01(1) and (2).

     SECTION 14. Restrictive Covenants. The Indenture contains certain covenants as set
forth in Article Four of the Indenture.

     SECTION 15. No Recourse Against Others. No recourse for the payment of the principal
of, premium, if any, or interest on any of the Notes or for any claim based thereon or otherwise in
respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Issuers
or the Guarantors in the Indenture, or in any of the Notes or Guarantees or because of the creation
of any Indebtedness represented thereby, shall be had against any incorporator, stockholder,
officer, director, employee or controlling person of the Issuers or the Guarantors or of any
successor Person thereof. Each Holder, by accepting the Notes, waives and releases all such
liability. Such waiver and release are part of the consideration for issuance of the Notes.

A-5

 

     SECTION 16. Guarantees. This Note will be entitled to the benefits of certain
Guarantees made for the benefit of the Holders. Reference is hereby made to the Indenture for a
statement of the respective rights, limitations of rights, duties and obligations thereunder of the
Guarantors, the Trustee and the Holders.

     SECTION 17. Authentication. This Note shall not be valid until authenticated by the
manual signature of the Trustee or an authenticating agent.

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

     SECTION 19. Additional Rights of Holders of Restricted Global Notes and Restricted
Definitive Notes. In addition to the rights provided to Holders of Notes under the Indenture,
Holders will have the rights set forth in the Registration Rights Agreement dated as of April 26,
2011, among the Issuers, the Guarantors and the other parties named on the signature pages thereof
[or, in the case of Additional Notes (if applicable), Holders of such Additional Notes will have
the rights set forth in one or more registration rights agreements, if any, among the Issuers, the
Guarantors and the other parties thereto, relating to rights given by the Issuers and the
Guarantors to the purchasers of such Additional Notes]. The Holders shall be entitled to receive
certain Additional Interest in the event such exchange offer is not consummated or the Notes are
not offered for resale and upon certain other conditions, all pursuant to and in accordance with
the terms of the Registration Rights Agreement.a

     SECTION 20. CUSIP and ISIN Numbers. Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures, the Issuers have caused CUSIP and ISIN
numbers to be printed on the Notes and the Trustee may use CUSIP or ISIN 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.

     SECTION 21. Governing Law. This Note shall be governed by, and construed in
accordance with, the laws of the State of New York.

     The Issuers will furnish to any Holder upon written request and without charge a copy of the
Indenture.

 

			
	a	 	This Section not to appear on Exchange Notes
or Additional Notes unless required by the terms of such Additional Notes.

A-6

 

ASSIGNMENT FORM

I or we assign and transfer this Note to

 

 

(Print or type name, address and zip code of assignee or transferee)

 

(Insert Social Security or other identifying number of assignee or transferee)

and irrevocably appoint _______________ agent to transfer this Note on the books of the Issuers.
The agent may substitute another to act for him.

	 	 	 	 	 
	 	 	 
	Dated: 	Signed:  	 	 
	 	 	(Sign exactly as name appears on the other side of this Note) 	 
	 	 	 	 
	 
	 	 	 
	Signature Guarantee: 	
 	 
	 	Participant in a recognized Signature Guarantee 	 
	 	Medallion Program (or other signature guarantor
program reasonably acceptable to the Trustee) 	 
	 

     In connection with any transfer of this Note occurring prior to the date which is the date
following the second anniversary of the original issuance of this Note, the undersigned confirms
that it has not utilized any general solicitation or general advertising in connection with the
transfer and is making the transfer pursuant to one of the following:

[Check One]

	 	 	 	 	 

	(1)

	 	o
	 	to the Issuers or a subsidiary thereof; or
	 
	 	 	 	 
	(2)

	 	o
	 	to a person who the transferor reasonably believes is a “qualified institutional buyer” pursuant to and in
compliance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”); or
	 
	 	 	 	 
	(3)

	 	o
	 	outside the United States to a non-“U.S. person” as defined in Rule 902 of Regulation S under the Securities Act
in compliance with Rule 904 of Regulation S under the Securities Act; or
	 
	 	 	 	 
	(4)

	 	o
	 	pursuant to the exemption from registration provided by Rule 144 under the Securities Act; or
	 
	 	 	 	 
	(5)

	 	o
	 	pursuant to an effective registration statement under the Securities Act;

and unless the box below is checked, the undersigned confirms that such Note is not being
transferred to an “affiliate” of the Issuers as defined in Rule 144 under the Securities Act (an
“Affiliate”):

	 	 	 	 	 

	(6)

	 	o
	 	The transferee is an Affiliate of the Issuers.

     Unless one of the foregoing items (1) through (6) is checked, the Trustee will refuse to
register any of the Notes evidenced by this certificate in the name of any person other than the
registered Holder thereof; provided, however, that if item (3) or (4) is checked, the Issuers or
the Trustee may require, prior

A-7

 

to registering any such transfer of the Notes, in their sole discretion, such written legal
opinions, certifications (including an investment letter in the case of box (3)) and other
information as the Trustee or the Issuers has reasonably requested to confirm that such transfer is
being made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act.

     If none of the foregoing items (1) through (5) are checked, the Trustee or Registrar shall not
be obligated to register this Note in the name of any person other than the Holder hereof unless
and until the conditions to any such transfer of registration set forth herein and in Section 2.16
of the Indenture shall have been satisfied.

	 	 	 	 	 
	 	 	 
	Dated: 	Signed:  	 	 
	 	 	(Sign exactly as name appears on the other side 	 
	 	 	of this Note) 	 
	 
	 	 	 
	Signature Guarantee: 	
 	 
	 	Participant in a recognized Signature Guarantee 	 
	 	Medallion Program (or other signature guarantor
program reasonably acceptable to the Trustee) 	 

A-8

 

	 	 	 	 	 

TO BE COMPLETED BY PURCHASER IF (2) ABOVE IS CHECKED

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

	 	 	 	 	 
	 	 	 
	Dated:                                         	
 	 
	 	NOTICE:  To be executed by an executive officer 	 
	 	 	 

A-9

 

	 	 	 	 	 

OPTION OF HOLDER TO ELECT PURCHASE

     If you want to elect to have this Note purchased by the Issuers pursuant to Section 4.07 or
Section 4.11 of the Indenture, check the appropriate box:

     Section 4.07 o     Section 4.11 o

     If you want to elect to have only part of this Note purchased by the Issuers pursuant to
Section 4.07 or Section 4.11 of the Indenture, state the amount (in denominations of $2,000 and
integral multiples of $1,000 in excess thereof): $___________

	 	 	 	 	 
	 	 	 
	Dated: 	Signed:  	 	 
	 	 	(Sign exactly as name appears on the other side 	 
	 	 	of this Note) 	 
	 
	 	 	 
	Signature Guarantee:  	
 	 
	 	Participant in a recognized Signature Guarantee 	 
	 	Medallion Program (or other signature guarantor
program reasonably acceptable to the Trustee) 	 

A-10

 

	 	 	 	 	 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTEa

     The following exchanges of a part of this Global Note for an interest in another Global
Note or for a Physical Note, or exchanges of a part of another Global Note or Physical Note for an
interest in this Global Note, have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Principal Amount of	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	this Global Note	 	Signature of
	 	 	 	 	Amount of decrease	 	Amount of increase	 	following such	 	authorized officer
	 	 	 	 	in Principal Amount	 	in Principal Amount	 	decrease	 	of Trustee of Note
	Date of Exchange	 	of The Global Note	 	of this Global Note	 	(or increase)	 	custodian

 

			
	a	 	This schedule should be included only if the
Note is issued in global form.

A-11

 

EXHIBIT B

FORM OF LEGENDS

     Each Global Note and Physical Note that constitutes a Restricted Security shall bear the
following legend (the “Private Placement Legend”) on the face thereof until after the second
anniversary of the Issue Date, unless otherwise agreed by the Issuers and the Holder thereof or if
such legend is no longer required by Section 2.16(e) of the Indenture:

     THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY
NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED,
ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION
IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS
ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS
PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE
“RESALE RESTRICTION TERMINATION DATE”) THAT IS ONE YEAR IN THE CASE OF RULE 144A NOTES, AND 40 DAYS
IN THE CASE OF REGULATION S NOTES AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST
DATE ON WHICH THE ISSUERS OR ANY AFFILIATE OF THE ISSUERS WAS THE OWNER OF THIS SECURITY (OR ANY
PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE ISSUERS, THEIR PARENT, OR ANY OF ITS SUBSIDIARIES,
(B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT,
(C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED
IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A
QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE
ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE
MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS AN
INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF
SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE
SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN
CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE
ISSUERS’ AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D),
(E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER
INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE
HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.

B-1

 

     Each Global Note authenticated and delivered hereunder shall also bear the following legend:

     THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY OR A SUCCESSOR DEPOSITORY.
THIS NOTE IS NOT EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE
DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO
TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITORY TO A NOMINEE
OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE
DEPOSITORY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

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

     TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF
PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN SECTION 2.16 OF THE INDENTURE.

     [[FOR REGULATION S GLOBAL SECURITY ONLY] UNTIL 40 DAYS AFTER THE LATER OF COMMENCEMENT OR
COMPLETION OF THE OFFERING, AN OFFER OR SALE OF SECURITIES WITHIN THE UNITED STATES BY A DEALER (AS
DEFINED IN THE SECURITIES ACT) MAY VIOLATE THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IF
SUCH OFFER OR SALE IS MADE OTHERWISE THAN IN ACCORDANCE WITH RULE 144A THEREUNDER.]

B-2

 

EXHIBIT C

Form of Certificate To Be Delivered

in Connection with Transfers

Pursuant to Regulation S

[     ], [  ]

Wilmington Trust Company

[          ]

[          ]

Attention: [          ]

Facsimile: [          ]

			
	Re:	 	MPT Operating Partnership, L.P., and

MPT Finance Corporation (the “Issuers”)

6.875% Senior Notes due 2021 (the “Notes”)

Ladies and Gentlemen:

     In connection with our proposed sale of $[ ] aggregate principal amount of the Notes, we
confirm that such sale has been effected pursuant to and in accordance with Regulation S under the
U.S. Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, we represent
that:

     (1) the offer of the Notes was not made to a person in the United States;

     (2) either (a) at the time the buy offer was originated, the transferee was outside the
United States or we and any person acting on our behalf reasonably believed that the
transferee was outside the United States, or the transaction was executed in, on or through
the facilities of a designated offshore securities market and neither we nor any person
acting on our behalf knows that the transaction has been prearranged with a buyer in the
United States;

     (3) no directed selling efforts have been made in the United States in contravention of
the requirements of Rule 903(b) or Rule 904(b) of Regulation S, as applicable;

     (4) the transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act; and

     (5) we have advised the transferee of the transfer restrictions applicable to the
Notes.

     You, as Trustee, the Issuers, counsel for the Issuers and others are entitled to rely upon
this letter and are irrevocably authorized to produce this letter or a copy hereof to any
interested party in any administrative or legal proceedings or official inquiry with respect to the
matters covered hereby. Terms used in this certificate have the meanings set forth in Regulation
S.

C-1

 

	 	 	 	 	 
	 	Very truly yours

[Name of Transferor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

C-2

 

	 	 	 	 	 

EXHIBIT D

GUARANTEE

     For value received, each of the undersigned (including any successor Person under the
Indenture) hereby unconditionally guarantees, jointly and severally, to the extent set forth in the
Indenture (as defined below) to the Holder of this Note the payment of principal, premium, if any,
and interest on this Note in the amounts and at the times when due and interest on the overdue
principal, premium, if any, and interest, if any, of this Note when due, if lawful, and, to the
extent permitted by law, the payment or performance of all other obligations of the Issuers under
the Indenture or the Notes, to the Holder of this Note and the Trustee, all in accordance with and
subject to the terms and limitations of this Note, the Indenture, including Article Ten thereof,
and this Guarantee. This Guarantee will become effective in accordance with Article Ten of the
Indenture and its terms shall be evidenced therein. The validity and enforceability of any
Guarantee shall not be affected by the fact that it is not affixed to any particular Note.

     Capitalized terms used but not defined herein shall have the meanings ascribed to them in the
Indenture dated as of April 26, 2011, among MPT Operating Partnership, L.P., a Delaware limited
partnership, and MPT Finance Corporation, a Delaware corporation (each, an “Issuer”, and together,
the “Issuers”), Medical Properties Trust, Inc., a Maryland corporation, each of the other
Guarantors named therein, and Wilmington Trust Company, a national banking association organized
and existing under the laws of the United States of America, as trustee (the “Trustee”), as amended
or supplemented (the “Indenture”).

     The obligations of the undersigned to the Holders of Notes and to the Trustee pursuant to this
Guarantee and the Indenture are expressly set forth in Article Ten of the Indenture and reference
is hereby made to the Indenture for the precise terms of the Guarantee and all of the other
provisions of the Indenture to which this Guarantee relates.

     No director, officer, employee, incorporator, stockholder or controlling person or any
successor Person thereof of any Guarantor, as such, shall have any liability for any obligations of
such Guarantors under such Guarantors’ Guarantee or the Indenture or for any claim based on, in
respect of, or by reason of, such obligation or its creation.

     This Guarantee shall be governed by, and construed in accordance with, the laws of the State
of New York.

     This Guarantee is subject to release upon the terms set forth in the Indenture.

F-1

 

     IN WITNESS WHEREOF, each Guarantor has caused its Guarantee to be duly executed.

	 	 	 	 	 
	 	[          ]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	 	 
	 

C-2exv4w2

EXHIBIT 4.2

EXECUTION VERSION

REGISTRATION RIGHTS AGREEMENT

     This REGISTRATION RIGHTS AGREEMENT dated April 26, 2011 (this “Agreement”) is entered
into by and among MPT Operating Partnership, L.P., a Delaware limited partnership (the
“Company”), MPT Finance Corporation, a Delaware corporation (“Finco” and, together
with the Company, the “Issuers”), Medical Properties Trust, Inc., a Maryland corporation
(“Parent”), the other guarantors listed in Schedule 1 hereto (collectively with Parent, the
“Initial Guarantors”), and J.P. Morgan Securities LLC (“J.P. Morgan”), as
representative of the several Initial Purchasers listed in Schedule 1 to the Purchase Agreement (as
defined below) (the “Initial Purchasers”).

     The Issuers, the Initial Guarantors and the Initial Purchasers are parties to the Purchase
Agreement dated April 19, 2011 (the “Purchase Agreement”), which provides for the sale by
the Issuers to the Initial Purchasers of $450,000,000 aggregate principal amount of the Issuers’
6.875% Senior Notes due 2021 (the “Securities”), which will be guaranteed on an unsecured
senior basis by each of the Guarantors. As an inducement to the Initial Purchasers to enter into
the Purchase Agreement, the Issuers and the Initial Guarantors have agreed to provide to the
Initial Purchasers and their direct and indirect transferees the registration rights set forth in
this Agreement. The execution and delivery of this Agreement is a condition to the closing under
the Purchase Agreement.

     In consideration of the foregoing, the parties hereto agree as follows:

     1. Definitions. As used in this Agreement, the following terms shall have the
following meanings:

     “Additional Guarantor” shall mean any subsidiary of the Issuers that executes a
Guarantee under the Indenture after the date of this Agreement.

     “Agreement” shall have the meaning set forth in the preamble.

     “Business Day” shall mean any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed.

     “Company” shall have the meaning set forth in the preamble and shall also include the
Company’s successors.

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to
time.

     “Exchange Dates” shall have the meaning set forth in Section 2(a)(ii) hereof.

     “Exchange Offer” shall mean the exchange offer by the Issuers and the Guarantors of
Exchange Securities for Registrable Securities pursuant to Section 2(a) hereof.

     “Exchange Offer Registration” shall mean a registration under the Securities Act
effected pursuant to Section 2(a) hereof.

     “Exchange Offer Registration Statement” shall mean an exchange offer registration
statement on Form S-4 (or, if applicable, on another appropriate form) and all amendments and
supplements to such registration statement, in each case including the Prospectus contained therein
or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein.

 

 

     “Exchange Securities” shall mean senior notes issued by the Issuers and guaranteed by
the Guarantors under the Indenture containing terms identical to the Securities (except that the
Exchange Securities will not be subject to restrictions on transfer or to any increase in annual
interest rate for failure to comply with this Agreement) and to be offered to Holders of Securities
in exchange for Securities pursuant to the Exchange Offer.

     “Finco” shall have the meaning set forth in the preamble.

     “FINRA” means the Financial Industry Regulatory Authority, Inc.

     “Free Writing Prospectus” means each free writing prospectus (as defined in Rule 405
under the Securities Act) prepared by or on behalf of the Issuers or used or referred to by the
Issuers in connection with the sale of the Securities or the Exchange Securities.

     “Guarantees” shall mean the guarantees of the Securities and guarantees of the
Exchange Securities by the Guarantors under the Indenture.

     “Guarantors” shall mean the Initial Guarantors, any Additional Guarantors and any
Guarantor’s successor that Guarantees the Securities.

     “Holders” shall mean the Initial Purchasers, for so long as they own any Registrable
Securities, and each of their successors, assigns and direct and indirect transferees who become
owners of Registrable Securities under the Indenture; provided that for purposes of Section 4 and
Section 5 hereof, the term “Holders” shall include Participating Broker-Dealers.

     “Indemnified Person” shall have the meaning set forth in Section 5(c) hereof.

     “Indemnifying Person” shall have the meaning set forth in Section 5(c) hereof.

     “Indenture” shall mean the Indenture relating to the Securities dated as of April 26,
2011 among the Issuers, the Initial Guarantors and Wilmington Trust Company, as trustee, and as the
same may be amended from time to time in accordance with the terms thereof.

     “Initial Guarantors” shall have the meaning set forth in the preamble.

     “Initial Purchasers” shall have the meaning set forth in the preamble.

     “Inspector” shall have the meaning set forth in Section 3(a)(xiv) hereof.

     “Issuer Information” shall have the meaning set forth in Section 5(a) hereof.

     “Issuers” shall have the meaning set forth in the preamble and shall also include the
Issuers’ successors.

     “J.P. Morgan” shall have the meaning set forth in the preamble.

     “Majority Holders” shall mean the Holders of a majority of the aggregate principal
amount of the outstanding Registrable Securities; provided that whenever the consent or approval of
Holders of a specified percentage of Registrable Securities is required hereunder, any Registrable
Securities owned directly or indirectly by either Issuer or any of its affiliates shall not be
counted in determining whether such consent or approval was given by the Holders of such required
percentage or amount; and provided, further,

-2-

 

that if either Issuer shall issue any additional Securities under the Indenture prior to
consummation of the Exchange Offer or, if applicable, the effectiveness of any Shelf Registration
Statement, such additional Securities and the Registrable Securities to which this Agreement
relates shall be treated together as one class for purposes of determining whether the consent or
approval of Holders of a specified percentage of Registrable Securities has been obtained.

     “Notice and Questionnaire” shall mean a notice of registration statement and selling
security holder questionnaire distributed to a Holder by the Issuers upon receipt of a Shelf
Request from such Holder.

     “Parent” shall have the meaning set forth in the preamble.

     “Participating Broker-Dealers” shall have the meaning set forth in Section 4(a)
hereof.

     “Participating Holder” shall mean any Holder of Registrable Securities that has
returned a completed and signed Notice and Questionnaire to the Issuers in accordance with Section
2(b) hereof.

     “Person” shall mean an individual, partnership, limited liability company,
corporation, trust or unincorporated organization, or a government or agency or political
subdivision thereof.

     “Prospectus” shall mean the prospectus included in, or, pursuant to the rules and
regulations of the Securities Act, deemed a part of, a Registration Statement, including any
preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus
supplement, including a prospectus supplement with respect to the terms of the offering of any
portion of the Registrable Securities covered by a Shelf Registration Statement, and by all other
amendments and supplements to such prospectus, and in each case including any document incorporated
by reference therein.

     “Purchase Agreement” shall have the meaning set forth in the preamble.

     “Registrable Securities” shall mean the Securities; provided that the
Securities shall cease to be Registrable Securities (i) when a Registration Statement with respect
to such Securities has become effective under the Securities Act and such Securities have been
exchanged or disposed of pursuant to such Registration Statement, (ii) when such Securities cease
to be outstanding or (iii) except in the case of Securities that otherwise remain Registrable
Securities and that are held by an Initial Purchaser and that are ineligible to be exchanged in the
Exchange Offer, when the Exchange Offer is consummated.

     “Registration Default” shall mean the occurrence of any of the following: (i) the
Exchange Offer is not completed on or prior to the Target Registration Date, (ii) the Shelf
Registration Statement, if required pursuant to Section 2(b)(i) or Section 2(b)(ii) hereof, has not
become effective on or prior to the Target Registration Date, (iii) if the Issuers received a Shelf
Request pursuant to Section 2(b)(iii), the Shelf Registration Statement required to be filed
thereby has not become effective by the later of (x) 10 Business Days after receipt of the Shelf
Request and (y) the Target Registration Date, (iv) the Shelf Registration Statement, if required by
this Agreement, has become effective and thereafter ceases to be effective or the Prospectus
contained therein ceases to be usable, in each case whether or not permitted by this Agreement, at
any time during the Shelf Effectiveness Period, and such failure to remain effective or usable
exists for more than 30 days (whether or not consecutive) in any 12-month period or (v) the Shelf
Registration Statement, if required by this Agreement, has become effective and thereafter, on more
than two occasions in any 12 month period during the Shelf Effectiveness Period, the Shelf
Registration Statement ceases to be effective or the Prospectus contained therein ceases to be
usable, in each case whether or not permitted by this Agreement.

-3-

 

     “Registration Expenses” shall mean any and all expenses incident to performance of or
compliance by the Issuers and the Guarantors with this Agreement, including without limitation: (i)
all SEC, stock exchange or FINRA registration and filing fees, (ii) all fees and expenses incurred
in connection with compliance with state securities or blue sky laws (including reasonable fees and
disbursements of counsel for any Underwriters or Holders in connection with blue sky qualification
of any Exchange Securities or Registrable Securities), (iii) all expenses of any Persons in
preparing or assisting in preparing, word processing, printing and distributing any Registration
Statement, any Prospectus, any Free Writing Prospectus and any amendments or supplements thereto,
any underwriting agreements, securities sales agreements or other similar agreements and any other
documents relating to the performance of and compliance with this Agreement, (iv) all rating agency
fees, (v) all fees and disbursements relating to the qualification of the Indenture under
applicable securities laws, (vi) the fees and disbursements of the Trustee and its counsel, (vii)
the fees and disbursements of counsel for the Issuers and the Guarantors and, in the case of a
Shelf Registration Statement, the reasonable fees and disbursements of one counsel for the
Participating Holders (which counsel shall be selected by the Participating Holders holding a
majority of the aggregate principal amount of Registrable Securities held by such Participating
Holders and which counsel may also be counsel for the Initial Purchasers) and (viii) the fees and
disbursements of the independent registered public accountants of the Issuers and the Guarantors,
including the expenses of any special audits or “comfort” letters required by or incident to the
performance of and compliance with this Agreement, but excluding fees and expenses of counsel to
the Underwriters (other than fees and expenses set forth in clause (ii) above) or the Holders and
underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating
to the sale or disposition of Registrable Securities by a Holder.

     “Registration Statement” shall mean any registration statement of the Issuers and the
Guarantors that covers any of the Exchange Securities or Registrable Securities pursuant to the
provisions of this Agreement and all amendments and supplements to any such registration statement,
including post-effective amendments, in each case including the Prospectus contained therein or
deemed a part thereof, all exhibits thereto and any document incorporated by reference therein.

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

     “SEC” shall mean the United States Securities and Exchange Commission.

     “Securities” shall have the meaning set forth in the preamble.

     “Securities Act” shall mean the Securities Act of 1933, as amended from time to time.

     “Shelf Effectiveness Period” shall have the meaning set forth in Section 2(b) hereof.

     “Shelf Registration” shall mean a registration effected pursuant to Section 2(b)
hereof.

     “Shelf Registration Statement” shall mean a “shelf” registration statement of the
Issuers and the Guarantors that covers all or a portion of the Registrable Securities (but no other
securities unless approved by a majority in aggregate principal amount of the Securities held by
the Participating Holders) on an appropriate form under Rule 415 under the Securities Act, or any
similar rule that may be adopted by the SEC, and all amendments and supplements to such
registration statement, including post-effective amendments, in each case including the Prospectus
contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by
reference therein.

     “Shelf Request” shall have the meaning set forth in Section 2(b) hereof.

     “Staff” shall mean the staff of the SEC.

-4-

 

     “Target Registration Date” shall mean 270 days after April 26, 2011.

     “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended from time
to time.

     “Trustee” shall mean the trustee with respect to the Securities under the Indenture.

     “Underwriter” shall have the meaning set forth in Section 3(e) hereof.

     “Underwritten Offering” shall mean an offering in which Registrable Securities are
sold to an Underwriter for reoffering to the public.

     2. Registration Under the Securities Act.

     (a) To the extent the Exchange Offer would not violate any applicable law or applicable
interpretations of the Staff or Staff Policy, the Issuers and the Guarantors shall use their
commercially reasonable efforts to (x) cause to be filed an Exchange Offer Registration Statement
covering an offer to the Holders to exchange all the Registrable Securities for Exchange Securities
and (y) have such Registration Statement become effective. The Issuers and the Guarantors shall
commence the Exchange Offer promptly after the Exchange Offer Registration Statement is declared
effective by the SEC and use their commercially reasonable efforts to complete the Exchange Offer
not later than 60 days after such effective date.

     The Issuers and the Guarantors shall commence the Exchange Offer by mailing the related
Prospectus, appropriate letters of transmittal and other accompanying documents to each Holder of
record entitled to participate in the Exchange Offer stating, in addition to such other disclosures
as are required by applicable law, substantially the following:

     (i) that the Exchange Offer is being made pursuant to this Agreement and that all
Registrable Securities validly tendered and not properly withdrawn will be accepted for
exchange;

     (ii) the dates of acceptance for exchange (which shall be a period of at least 20
Business Days from the date such notice is mailed) (the “Exchange Dates”);

     (iii) that any Registrable Security not tendered will remain outstanding and continue
to accrue interest but will not retain any rights under this Agreement, except as otherwise
specified herein;

     (iv) that any Holder electing to have a Registrable Security exchanged pursuant to the
Exchange Offer will be required to (A) surrender such Registrable Security, together with
the appropriate letters of transmittal, to the institution and at the address and in the
manner specified in the notice, or (B) effect such exchange otherwise in compliance with the
applicable procedures of the depositary for such Registrable Security, in each case prior to
the close of business on the last Exchange Date; and

     (v) that any Holder will be entitled to withdraw its election, not later than the close
of business on the last Exchange Date, by (A) sending to the institution and at the address
specified in the notice, a telegram, facsimile transmission or letter setting forth the name
of such Holder, the principal amount of Registrable Securities delivered for exchange and a
statement that
such Holder is withdrawing its election to have such Securities exchanged or (B)
effecting such

-5-

 

withdrawal in compliance with the applicable procedures of the depositary for
the Registrable Securities.

     As a condition to participating in the Exchange Offer, a Holder will be required to represent
to the Issuers and the Guarantors that (1) any Exchange Securities to be received by it will be
acquired in the ordinary course of its business, (2) at the time of the commencement of the
Exchange Offer it has no arrangement or understanding with any Person to participate in the
distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of
the provisions of the Securities Act, (3) it is not an “affiliate” (within the meaning of Rule 405
under the Securities Act) of either Issuer or any Guarantor and (4) if such Holder is a
broker-dealer that will receive Exchange Securities for its own account in exchange for Registrable
Securities that were acquired as a result of market-making or other trading activities, then such
Holder will deliver a Prospectus (or, to the extent permitted by law, make available a Prospectus
to purchasers) in connection with any resale of such Exchange Securities.

     As soon as practicable after the last Exchange Date, the Issuers and the Guarantors shall:

     (I) accept for exchange Registrable Securities or portions thereof validly tendered and
not properly withdrawn pursuant to the Exchange Offer; and

     (II) deliver, or cause to be delivered, to the Trustee for cancellation all Registrable
Securities or portions thereof so accepted for exchange by the Issuers and issue, and cause
the Trustee to promptly authenticate and deliver to each Holder, Exchange Securities equal
in principal amount to the principal amount of the Registrable Securities tendered by such
Holder; provided, however, that, in the case of any Securities held in global form by a
depositary, authentication and delivery to such depositary of one or more Securities in
global form in an equivalent principal amount thereto for the account of such Holders in
accordance with the Indenture shall satisfy such authentication and delivery requirement.

     The Issuers and the Guarantors shall use their commercially reasonable efforts to complete the
Exchange Offer as provided above and shall comply with the applicable requirements of the
Securities Act, the Exchange Act and other applicable laws and regulations in connection with the
Exchange Offer. The Exchange Offer shall not be subject to any conditions, other than that the
Exchange Offer does not violate any applicable law or applicable interpretations of the Staff.

     (b) In the event that (i) the Issuers and the Guarantors determine that the Exchange Offer
Registration provided for in Section 2(a) hereof is not available or the Exchange Offer may not be
completed as soon as practicable after the Exchange Date because it would violate any applicable
law or applicable interpretations of the Staff, (ii) the Exchange Offer is not for any other reason
completed by the Target Registration Date or (iii) upon receipt of a written request (a “Shelf
Request”) from any Initial Purchaser representing that it holds Registrable Securities that are
or were ineligible to be exchanged in the Exchange Offer, the Issuers and the Guarantors shall use
their commercially reasonable efforts to cause to be filed as promptly as practicable after such
determination, date or Shelf Request, as the case may be, a Shelf Registration Statement providing
for the sale of all the Registrable Securities by the Holders thereof and to have such Shelf
Registration Statement become effective; provided that no Holder will be entitled to have any
Registrable Securities included in any Shelf Registration Statement, or entitled to use the
prospectus forming a part of such Shelf Registration Statement, until such Holder shall have
delivered a completed and signed Notice and Questionnaire and provided such other information
regarding such Holder to the Issuers as is contemplated by Section 3(b) hereof.

     In the event that the Issuers and the Guarantors are required to file a Shelf Registration
Statement pursuant to clause (iii) of the preceding sentence, the Issuers and the Guarantors shall
use their commercially

-6-

 

reasonable efforts to file and have become effective both an Exchange Offer
Registration Statement pursuant to Section 2(a) hereof with respect to all Registrable Securities
and a Shelf Registration Statement (which may be a combined Registration Statement with the
Exchange Offer Registration Statement) with respect to offers and sales of Registrable Securities
held by the Initial Purchasers after completion of the Exchange Offer.

     The Issuers and the Guarantors agree to use their commercially reasonable efforts to keep the
Shelf Registration Statement continuously effective until the Securities cease to be Registrable
Securities (the “Shelf Effectiveness Period”). The Issuers and the Guarantors further
agree to supplement or amend the Shelf Registration Statement, the related Prospectus and any Free
Writing Prospectus if required by the rules, regulations or instructions applicable to the
registration form used by the Issuers for such Shelf Registration Statement or by the Securities
Act or by any other rules and regulations thereunder or if reasonably requested by a Holder of
Registrable Securities with respect to information relating to such Holder, and to use their
commercially reasonable efforts to cause any such amendment to become effective, if required, and
such Shelf Registration Statement, Prospectus or Free Writing Prospectus, as the case may be, to
become usable as soon as thereafter practicable. The Issuers and the Guarantors agree to furnish
to the Participating Holders copies of any such supplement or amendment promptly after its being
used or filed with the SEC.

     (c) The Issuers and the Guarantors shall pay all Registration Expenses in connection with any
registration pursuant to Section 2(a) or Section 2(b) hereof. Each Holder shall pay all
underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating
to the sale or disposition of such Holder’s Registrable Securities pursuant to the Shelf
Registration Statement.

     (d) An Exchange Offer Registration Statement pursuant to Section 2(a) hereof will not be
deemed to have become effective unless it has been declared effective by the SEC. A Shelf
Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become effective
unless it has been declared effective by the SEC or is automatically effective upon filing with the
SEC as provided by Rule 462 under the Securities Act.

     If a Registration Default occurs, the interest rate on the Registrable Securities will be
increased by (i) 0.25% per annum for the first 90-day period beginning on the day immediately
following such Registration Default and (ii) an additional 0.25% per annum with respect to each
subsequent 90-day period, in each case until and including the date such Registration Default ends,
up to a maximum increase of 1.00% per annum. A Registration Default ends when the Securities cease
to be Registrable Securities or, if earlier, (1) in the case of a Registration Default under clause
(i) of the definition thereof, when the Exchange Offer is completed, (2) in the case of a
Registration Default under clause (ii) or clause (iii) of the definition thereof, when the Shelf
Registration Statement becomes effective or (3) in the case of a Registration Default under clause
(iv) or clause (v) of the definition thereof, when the Shelf Registration Statement again becomes
effective or the Prospectus again becomes usable. If at any time more than one Registration
Default has occurred and is continuing, then, until the next date that there is no Registration
Default, the increase in interest rate provided for by this paragraph shall apply as if there
occurred a single Registration Default that begins on the date that the earliest such Registration
Default occurred and ends on such next date that there is no Registration Default.

     (e) Without limiting the remedies available to the Initial Purchasers and the Holders, the
Issuers and the Guarantors acknowledge that any failure by the Issuers or the Guarantors to comply
with their obligations under Section 2(a) and Section 2(b) hereof may result in material
irreparable injury to the
Initial Purchasers or the Holders for which there is no adequate remedy at law, that it will
not be possible to measure damages for such injuries precisely and that, in the event of any such
failure, the Initial Purchasers

-7-

 

or any Holder may obtain such relief as may be required to
specifically enforce the Issuers’ and the Guarantors’ obligations under Section 2(a) and Section
2(b) hereof.

     3. Registration Procedures.

     (a) In connection with their obligations pursuant to Section 2(a) and Section 2(b) hereof, the
Issuers and the Guarantors shall as expeditiously as is commercially reasonable:

     (i) prepare and file with the SEC a Registration Statement on the appropriate form
under the Securities Act, which form (A) shall be selected by the Issuers and the
Guarantors, (B) shall, in the case of a Shelf Registration, be available for the sale of the
Registrable Securities by the Holders thereof and (C) shall comply as to form in all
material respects with the requirements of the applicable form and include all financial
statements required by the SEC to be filed therewith; and use their commercially reasonable
efforts to cause such Registration Statement to become effective and remain effective for
the applicable period in accordance with Section 2 hereof;

     (ii) prepare and file with the SEC such amendments and post-effective amendments to
each Registration Statement as may be necessary to keep such Registration Statement
effective for the applicable period in accordance with Section 2 hereof and cause each
Prospectus to be supplemented by any required prospectus supplement and, as so supplemented,
to be filed pursuant to Rule 424 and 430A under the Securities Act; and keep each Prospectus
current during the period described in Section 4(3) of and Rule 174 under the Securities Act
that is applicable to transactions by brokers or dealers with respect to the Registrable
Securities or Exchange Securities;

     (iii) to the extent any Free Writing Prospectus is used, file with the SEC any Free
Writing Prospectus that is required to be filed by the Issuers or the Guarantors with the
SEC in accordance with the Securities Act and to retain any Free Writing Prospectus not
required to be filed;

     (iv) in the case of a Shelf Registration, furnish to each Participating Holder, to
counsel for the Initial Purchasers, to counsel for such Participating Holders and to each
Underwriter of an Underwritten Offering of Registrable Securities, if any, without charge,
as many copies of each Prospectus, preliminary prospectus or Free Writing Prospectus, and
any amendment or supplement thereto, as such Participating Holder, counsel or Underwriter
may reasonably request in order to facilitate the sale or other disposition of the
Registrable Securities thereunder; and, subject to Section 3(c) hereof, the Issuers and the
Guarantors consent to the use of such Prospectus, preliminary prospectus or such Free
Writing Prospectus and any amendment or supplement thereto in accordance with applicable law
by each of the Participating Holders and any such Underwriters in connection with the
offering and sale of the Registrable Securities covered by and in the manner described in
such Prospectus, preliminary prospectus or such Free Writing Prospectus or any amendment or
supplement thereto in accordance with applicable law;

     (v) use their commercially reasonable efforts to register or qualify the Registrable
Securities under all applicable state securities or blue sky laws of such jurisdictions as
any Participating Holder shall reasonably request in writing by the time the applicable
Registration Statement becomes effective; cooperate with such Participating Holders in
connection with any filings required to be made with FINRA; and do any and all other acts
and things that may be reasonably necessary or advisable to enable each Participating Holder to complete the
disposition in each such jurisdiction of the Registrable Securities owned by such
Participating Holder; provided that

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neither of the Issuers nor any Guarantor shall
be required to (1) qualify as a foreign corporation or other entity or as a dealer in
securities in any such jurisdiction where it would not otherwise be required to so qualify,
(2) file any general consent to service of process in any such jurisdiction or (3) subject
itself to taxation in any such jurisdiction if it is not so subject;

     (vi) notify counsel for the Initial Purchasers and, in the case of a Shelf
Registration, notify each Participating Holder and counsel for such Participating Holders
promptly and, if requested by any such Participating Holder or counsel, confirm such advice
in writing (1) when a Registration Statement has become effective, when any post-effective
amendment thereto has been filed and becomes effective, when any Free Writing Prospectus has
been filed or any amendment or supplement to the Prospectus or any Free Writing Prospectus
has been filed, (2) of any request by the SEC or any state securities authority for
amendments and supplements to a Registration Statement, Prospectus or any Free Writing
Prospectus or for additional information after the Registration Statement has become
effective, (3) of the issuance by the SEC or any state securities authority of any stop
order suspending the effectiveness of a Registration Statement or the initiation of any
proceedings for that purpose, including the receipt by the Issuers of any notice of
objection of the SEC to the use of a Shelf Registration Statement or any post-effective
amendment thereto pursuant to Rule 401(g)(2) under the Securities Act, (4) if, between the
applicable effective date of a Shelf Registration Statement and the closing of any sale of
Registrable Securities covered thereby, the representations and warranties of either Issuer
or any Guarantor contained in any underwriting agreement, securities sales agreement or
other similar agreement, if any, relating to an offering of such Registrable Securities
cease to be true and correct in all material respects or if either Issuer or any Guarantor
receives any notification with respect to the suspension of the qualification of the
Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for
such purpose, (5) of the happening of any event during the period a Registration Statement
is effective that makes any statement made in such Registration Statement or the related
Prospectus or any Free Writing Prospectus untrue in any material respect or that requires
the making of any changes in such Registration Statement or Prospectus or any Free Writing
Prospectus in order to make the statements therein not misleading and (6) of any
determination by either Issuer or any Guarantor that a post-effective amendment to a
Registration Statement or any amendment or supplement to the Prospectus or any Free Writing
Prospectus would be appropriate;

     (vii) use their commercially reasonable efforts to obtain the withdrawal of any order
suspending the effectiveness of a Registration Statement or, in the case of a Shelf
Registration, the resolution of any objection of the SEC pursuant to Rule 401(g)(2) under
the Securities Act, including by filing an amendment to such Registration Statement on the
proper form, at the earliest possible moment and provide immediate notice to each Holder or
Participating Holder of the withdrawal of any such order or such resolution;

     (viii) in the case of a Shelf Registration, furnish to each Participating Holder,
without charge, at least one conformed copy of each Registration Statement and any
post-effective amendment thereto (without any documents incorporated therein by reference or
exhibits thereto, unless requested);

     (ix) in the case of a Shelf Registration, cooperate with the Participating Holders to
facilitate the timely preparation and delivery of certificates representing Registrable
Securities to be sold and not bearing any restrictive legends and enable such Registrable
Securities to be issued in such denominations and registered in such names (consistent with the provisions of the
Indenture)

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as such Participating Holders may reasonably request at least one Business Day
prior to the closing of any sale of Registrable Securities;

     (x) upon the occurrence of any event contemplated by Section 3(a)(vi)(5) hereof, use
their commercially reasonable efforts to prepare and file with the SEC a supplement or
post-effective amendment to the applicable Exchange Offer Registration Statement or Shelf
Registration Statement or the related Prospectus or any Free Writing Prospectus or any
document incorporated therein by reference or file any other required document so that, as
thereafter delivered (or, to the extent permitted by law, made available) to purchasers of
the Registrable Securities, such Prospectus or Free Writing Prospectus, as the case may be,
will not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading; and the Issuers and the Guarantors shall notify the Participating
Holders (in the case of a Shelf Registration Statement) and the Initial Purchasers and any
Participating Broker-Dealers known to the Issuers (in the case of an Exchange Offer
Registration Statement) to suspend use of the Prospectus or any Free Writing Prospectus as
promptly as practicable after the occurrence of such an event, and such Participating
Holders, such Participating Broker-Dealers and the Initial Purchasers, as applicable, hereby
agree to suspend use of the Prospectus or any Free Writing Prospectus, as the case may be,
until the Issuers and the Guarantors have amended or supplemented the Prospectus or the Free
Writing Prospectus, as the case may be, to correct such misstatement or omission;

     (xi) a reasonable time prior to the filing of any Registration Statement, any
Prospectus, any Free Writing Prospectus, any amendment to a Registration Statement or
amendment or supplement to a Prospectus or a Free Writing Prospectus or of any document that
is to be incorporated by reference into a Registration Statement, a Prospectus or a Free
Writing Prospectus after initial filing of a Registration Statement, provide copies of such
document to the Initial Purchasers and their counsel (and, in the case of a Shelf
Registration Statement, to the Participating Holders and their counsel) and make such of the
representatives of the Issuers and the Guarantors as shall be reasonably requested by the
Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the
Participating Holders or their counsel) available for discussion of such document; and the
Issuers and the Guarantors shall not, at any time after initial filing of a Registration
Statement, use or file any Prospectus, any Free Writing Prospectus, any amendment of or
supplement to a Registration Statement or a Prospectus or a Free Writing Prospectus, or any
document that is to be incorporated by reference into a Registration Statement, a Prospectus
or a Free Writing Prospectus, of which the Initial Purchasers and their counsel (and, in the
case of a Shelf Registration Statement, the Participating Holders and their counsel) shall
not have previously been advised and furnished a copy or to which the Initial Purchasers or
their counsel (and, in the case of a Shelf Registration Statement, the Participating Holders
or their counsel) shall reasonably object;

     (xii) obtain a CUSIP number for all Exchange Securities or Registrable Securities, as
the case may be, not later than the initial effective date of a Registration Statement;

     (xiii) cause the Indenture to be qualified under the Trust Indenture Act in connection
with the registration of the Exchange Securities or Registrable Securities, as the case may
be; cooperate with the Trustee and the Holders to effect such changes to the Indenture as
may be required for the Indenture to be so qualified in accordance with the terms of the
Trust Indenture Act; and execute, and use their commercially reasonable efforts to cause the
Trustee to execute,
all documents as may be required to effect such changes and all other forms and
documents required to be filed with the SEC to enable the Indenture to be so qualified in a
timely manner;

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     (xiv) in the case of a Shelf Registration, make available for inspection by a
representative of the Participating Holders (an “Inspector”), any Underwriter
participating in any disposition pursuant to such Shelf Registration Statement, any
attorneys and accountants designated by a majority in aggregate principal amount of the
Securities held by the Participating Holders and any attorneys and accountants designated by
such Underwriter, at reasonable times and in a reasonable manner, all pertinent financial
and other records, documents and properties of Parent and its subsidiaries, and cause the
respective officers, directors and employees of the Issuers and the Guarantors to supply all
information reasonably requested by any such Inspector, Underwriter, attorney or accountant
in connection with a Shelf Registration Statement; provided that if any such information is
identified by either Issuer or any Guarantor as being confidential or proprietary, each
Person receiving such information shall take such actions as are reasonably necessary to
protect the confidentiality of such information to the extent such action is otherwise not
inconsistent with, an impairment of or in derogation of the rights and interests of any
Inspector, Holder or Underwriter;

     (xv) [reserved.];

     (xvi) if reasonably requested by any Participating Holder, promptly include in a
Prospectus supplement or post-effective amendment such information with respect to such
Participating Holder as such Participating Holder reasonably requests to be included therein
and promptly make all required filings of such Prospectus supplement or such post-effective
amendment as soon as practicable after the Issuers have received notification of the matters
to be so included in such filing;

     (xvii) in the case of a Shelf Registration, enter into such customary agreements and
take all such other actions in connection therewith (including those requested by the
Holders of a majority in principal amount of the Registrable Securities covered by the Shelf
Registration Statement) in order to expedite or facilitate the disposition of such
Registrable Securities including, but not limited to, an Underwritten Offering and in such
connection, (1) to the extent possible, make such representations and warranties to the
Participating Holders and any Underwriters of such Registrable Securities with respect to
the business of Parent and its subsidiaries and the Registration Statement, Prospectus, any
Free Writing Prospectus and documents incorporated by reference or deemed incorporated by
reference, if any, in each case, in form, substance and scope as are customarily made by
issuers to underwriters in underwritten offerings and confirm the same if and when
requested, (2) obtain opinions of counsel to the Issuers and the Guarantors (which counsel
and opinions, in form, scope and substance, shall be reasonably satisfactory to the
Participating Holders and such Underwriters and their respective counsel) addressed to each
Participating Holder and Underwriter of Registrable Securities, covering the matters
customarily covered in opinions requested in underwritten offerings, (3) obtain “comfort”
letters from the independent registered public accountants of the Issuers and the Guarantors
(and, if necessary, any other registered public accountant of any subsidiary of either
Issuer or any Guarantor, or of any business acquired by either Issuer or any Guarantor for
which financial statements and financial data are or are required to be included in the
Registration Statement) addressed to each Participating Holder (to the extent permitted by
applicable professional standards) and Underwriter of Registrable Securities, such letters
to be in customary form and covering matters of the type customarily covered in “comfort”
letters in connection with underwritten offerings, including but not limited to financial
information contained in any preliminary prospectus, Prospectus or Free Writing Prospectus and (4) deliver such documents and certificates as may be reasonably
requested by the Holders of a majority in principal amount of the Registrable Securities
being sold or the Underwriters, and which are customarily delivered in underwritten
offerings, to evidence the continued

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validity of the representations and warranties of the
Issuers and the Guarantors made pursuant to clause (1) above and to evidence compliance with
any customary conditions contained in an underwriting agreement; and

     (xviii) so long as any Registrable Securities remain outstanding, cause each Additional
Guarantor upon the creation or acquisition by either Issuer of such Additional Guarantor, to
execute a counterpart to this Agreement in the form attached hereto as Annex A and to
deliver such counterpart, together with an opinion of counsel as to the enforceability
thereof against such entity, to the Initial Purchasers no later than five Business Days
following the execution thereof.

     (b) In the case of a Shelf Registration Statement, the Issuers may require each Holder of
Registrable Securities to furnish to the Issuers a Notice and Questionnaire and such other
information regarding such Holder and the proposed disposition by such Holder of such Registrable
Securities as the Issuers and the Guarantors may from time to time reasonably request in writing.

     (c) Each Participating Holder agrees that, upon receipt of any notice from the Issuers and the
Guarantors of the happening of any event of the kind described in Section 3(a)(vi)(3) or Section
3(a)(vi)(5) hereof, such Participating Holder will forthwith discontinue disposition of Registrable
Securities pursuant to the Shelf Registration Statement until such Participating Holder’s receipt
of the copies of the supplemented or amended Prospectus and any Free Writing Prospectus
contemplated by Section 3(a)(x) hereof and, if so directed by the Issuers and the Guarantors, such
Participating Holder will deliver to the Issuers and the Guarantors all copies in its possession,
other than permanent file copies then in such Participating Holder’s possession, of the Prospectus
and any Free Writing Prospectus covering such Registrable Securities that is current at the time of
receipt of such notice.

     (d) If the Issuers and the Guarantors shall give any notice to suspend the disposition of
Registrable Securities pursuant to a Registration Statement, the Issuers and the Guarantors shall
extend the period during which such Registration Statement shall be maintained effective pursuant
to this Agreement by the number of days during the period from and including the date of the giving
of such notice to and including the date when the Holders of such Registrable Securities shall have
received copies of the supplemented or amended Prospectus or any Free Writing Prospectus necessary
to resume such dispositions. Such suspension period shall not exceed 30 days in any three month
period or 90 days in any twelve month period; provided that any default under this Section 3(d)
shall be a Registration Default.

     (e) The Participating Holders who desire to do so may sell such Registrable Securities in an
Underwritten Offering. In any such Underwritten Offering, the investment bank or investment banks
and manager or managers (each an “Underwriter”) that will administer the offering will be
selected by the Holders of a majority in principal amount of the Registrable Securities included in
such offering.

     4. Participation of Broker-Dealers in Exchange Offer.

     (a) The Staff has taken the position that any broker-dealer that receives Exchange Securities
for its own account in the Exchange Offer in exchange for Securities that were acquired by such
broker-dealer as a result of market-making or other trading activities (a “Participating
Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Securities Act
and must deliver a prospectus meeting the requirements of the Securities Act in connection with any
resale of such Exchange Securities.

     The Issuers and the Guarantors understand that it is the Staff’s position that if the
Prospectus contained in the Exchange Offer Registration Statement includes a plan of distribution
containing a statement to the above effect and the means by which Participating Broker-Dealers may
resell the Exchange Securities, without naming the Participating Broker-Dealers or specifying the
amount of Exchange Securities

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owned by them, such Prospectus may be delivered by Participating
Broker-Dealers (or, to the extent permitted by law, made available to purchasers) to satisfy their
prospectus delivery obligation under the Securities Act in connection with resales of Exchange
Securities for their own accounts, so long as the Prospectus otherwise meets the requirements of
the Securities Act.

     (b) In light of the above, and notwithstanding the other provisions of this Agreement, the
Issuers and the Guarantors agree to amend or supplement the Prospectus contained in the Exchange
Offer Registration Statement for a period ending on the earlier of (i) 180 days from the date on
which the Registration Statement is declared effective and (ii) the date on which a Participating
Broker-Dealer is no longer required to deliver a prospectus in connection with market-making or
other trading activities, in order to expedite or facilitate the disposition of any Exchange
Securities by Participating Broker-Dealers consistent with the positions of the Staff recited in
Section 4(a) above. The Issuers and the Guarantors further agree that Participating Broker-Dealers
shall be authorized to deliver such Prospectus (or, to the extent permitted by law, make available)
during such period in connection with the resales contemplated by this Section 4.

     (c) The Initial Purchasers shall have no liability to either Issuer, any Guarantor or any
Holder with respect to any request that they may make pursuant to Section 4(b) hereof.

     5. Indemnification and Contribution.

     (a) Each Issuer and each Guarantor, jointly and severally, agree to indemnify and hold
harmless each Initial Purchaser and each Holder, their respective affiliates, directors and
officers and each Person, if any, who controls any Initial Purchaser or any Holder within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any
and all losses, claims, damages and liabilities (including, without limitation, reasonable legal
fees and other expenses incurred in connection with any suit, action or proceeding or any claim
asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are
based upon, (1) any untrue statement or alleged untrue statement of a material fact contained in
any Registration Statement or any omission or alleged omission to state therein a material fact
required to be stated therein or necessary in order to make the statements therein not misleading,
or (2) any untrue statement or alleged untrue statement of a material fact contained in any
Prospectus, any Free Writing Prospectus or any “issuer information” (“Issuer Information”)
filed or required to be filed pursuant to Rule 433(d) under the Securities Act, or any omission or
alleged omission to state therein a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading, in each case
except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any
untrue statement or omission or alleged untrue statement or omission made in reliance upon and in
conformity with any information relating to any Initial Purchaser or information relating to any
Holder furnished to the Issuers in writing through J.P. Morgan or any selling Holder, respectively,
expressly for use therein. In connection with any Underwritten Offering permitted by Section 3,
the Issuers and the Guarantors, jointly and severally, will also indemnify the Underwriters, if
any, selling brokers, dealers and similar securities industry professionals participating in the
distribution, their respective affiliates and each Person who controls such Persons (within the
meaning of the Securities Act and the Exchange Act) to the same extent as provided above with
respect to the indemnification of the Holders, if requested in connection with any Registration
Statement, any Prospectus, any Free Writing Prospectus or any Issuer Information.

     (b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the
Issuers, the Guarantors, the Initial Purchasers and the other selling Holders, the directors of the
Issuers and the Guarantors, each officer of the Issuers and the Guarantors and each Person, if any,
who controls the Issuers, the Guarantors, any Initial Purchaser and any other selling Holder within
the meaning of Section 15

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of the Securities Act or Section 20 of the Exchange Act to the same
extent as the indemnity set forth in paragraph (a) above, but only with respect to any losses,
claims, damages or liabilities that arise out of, or are based upon, any untrue statement or
omission or alleged untrue statement or omission made in reliance upon and in conformity with any
information relating to such Holder furnished to the Issuers in writing by such Holder expressly
for use in any Registration Statement, any Prospectus and any Free Writing Prospectus.

     (c) If any suit, action, proceeding (including any governmental or regulatory
investigation), claim or demand shall be brought or asserted against any Person in respect of which
indemnification may be sought pursuant to either paragraph (a) or (b) above, such Person (the
“Indemnified Person”) shall promptly notify the Person against whom such indemnification
may be sought (the “Indemnifying Person”) in writing; provided that the failure to
notify the Indemnifying Person shall not relieve such Indemnifying Person from any liability that
it may have under paragraph (a) or (b) above except to the extent that it has been materially
prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and
provided, further, that the failure to notify the Indemnifying Person shall not
relieve such Indemnifying Person from any liability that it may have to an Indemnified Person
otherwise than under paragraph (a) or (b) above. If any such proceeding shall be brought or
asserted against an Indemnified Person and it shall have notified the Indemnifying Person thereof,
the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person to
represent the Indemnified Person and any others entitled to indemnification pursuant to this
Section 5 that the Indemnifying Person may designate in such proceeding and shall pay the fees and
expenses of such proceeding and shall pay the fees and expenses of such counsel related to such
proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to
retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such
Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have
mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time
to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person
shall have reasonably concluded that there may be legal defenses available to it that are different
from or in addition to those available to the Indemnifying Person; or (iv) the named parties in any
such proceeding (including any impleaded parties) include both the Indemnifying Person and the
Indemnified Person and representation of both parties by the same counsel would be inappropriate
due to actual or potential differing interests between them. It is understood and agreed that the
Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same
jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to
any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be
reimbursed as they are incurred. Any such separate firm (x) for any Initial Purchaser, its
affiliates, directors and officers and any control Persons of such Initial Purchaser shall be
designated in writing by J.P. Morgan, (y) for any Holder, its directors and officers and any
control Persons of such Holder shall be designated in writing by the Majority Holders and (z) in
all other cases shall be designated in writing by the Issuers. The Indemnifying Person shall not
be liable for any settlement of any proceeding effected without its written consent, but if settled
with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees
to indemnify each Indemnified Person from and against any loss or liability by reason of such
settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified
Person shall have requested that an Indemnifying Person reimburse the Indemnified Person for fees
and expenses of counsel as contemplated by this paragraph, the Indemnifying Person shall be liable
for any settlement of any proceeding effected without its written consent if (i) such settlement is
entered into more than 30 days after receipt by the Indemnifying Person of such request and (ii)
the Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement. No Indemnifying Person shall,
without the written consent of the Indemnified Person, effect any settlement of any pending or
threatened proceeding in respect of which any Indemnified Person is or could have been a party and
indemnification could have been sought hereunder by such Indemnified Person, unless such settlement
(A) includes an unconditional

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release of such Indemnified Person, in form and substance reasonably
satisfactory to such Indemnified Person, from all liability on claims that are the subject matter
of such proceeding and (B) does not include any statement as to or any admission of fault,
culpability or a failure to act by or on behalf of any Indemnified Person.

     (d) If the indemnification provided for in paragraphs (a) and (b) above is unavailable to
an Indemnified Person (other than by reason of exceptions provided in those paragraphs) or
insufficient in respect of any losses, claims, damages or liabilities referred to therein, then
each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person
thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result
of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect
the relative benefits received by the Issuers and the Guarantors from the offering of the
Securities and the Exchange Securities, on the one hand, and by the Holders from receiving
Securities or Exchange Securities registered under the Securities Act, on the other hand, or (ii)
if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as
is appropriate to reflect not only the relative benefits referred to in clause (i) but also the
relative fault of the Issuers and the Guarantors on the one hand and the Holders on the other in
connection with the statements or omissions that resulted in such losses, claims, damages or
liabilities, as well as any other relevant equitable considerations. The relative fault of the
Issuers and the Guarantors on the one hand and the Holders on the other shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to information supplied by the
Issuers and the Guarantors or by the Holders and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission.

     (e) The Issuers, the Guarantors and the Holders agree that it would not be just and
equitable if contribution pursuant to this Section 5 were determined by pro rata allocation (even
if the Holders were treated as one entity for such purpose) or by any other method of allocation
that does not take account of the equitable considerations referred to in paragraph (d) above. The
amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and
liabilities referred to in paragraph (d) above shall be deemed to include, subject to the
limitations set forth above, any legal or other expenses incurred by such Indemnified Person in
connection with any such action or claim. Notwithstanding the provisions of this Section 5, in no
event shall a Holder be required to contribute any amount in excess of the amount by which the
total price at which the Securities or Exchange Securities sold by such Holder exceeds the amount
of any damages that such Holder has otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’
obligations to contribute pursuant to this Section 5 are several and not joint.

     (f) The remedies provided for in this Section 5 are not exclusive and shall not limit any
rights or remedies that may otherwise be available to any Indemnified Person at law or in equity.

     (g) The indemnity and contribution provisions contained in this Section 5 shall remain
operative and in full force and effect regardless of (i) any termination of this Agreement, (ii)
any investigation made by or on behalf of the Initial Purchasers or any Holder or any Person
controlling any Initial Purchaser or any Holder, or by or on behalf of the Issuers or the
Guarantors or the officers or directors of or
any Person controlling the Issuers or the Guarantors, (iii) acceptance of any of the Exchange
Securities and (iv) any sale of Registrable Securities pursuant to a Shelf Registration Statement.

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     6. General.

     (a) No Inconsistent Agreements. The Issuers and the Guarantors represent, warrant and
agree that (i) the rights granted to the Holders hereunder do not in any way conflict with and are
not inconsistent with the rights granted to the holders of any other outstanding securities issued
or guaranteed by either Issuer or any Guarantor under any other agreement in effect on the date
hereof, (ii) neither of the Issuers nor any Guarantor will enter into on or after the date of this
Agreement any agreement that is inconsistent with the rights granted to the Holders of Registrable
Securities in this Agreement or otherwise conflicts with the provisions hereof, and (iii) neither
of the Issuers nor any Guarantor has previously entered into any agreement in effect on the date
hereof that is inconsistent with the rights granted to the Holders of Registrable Securities in
this Agreement or otherwise conflicts with the provisions hereof.

     (b) Amendments and Waivers. The provisions of this Agreement, including the provisions
of this sentence, may not be amended, modified or supplemented, and waivers or consents to
departures from the provisions hereof may not be given unless the Issuers and the Guarantors have
obtained the written consent of Holders of at least a majority in aggregate principal amount of the
outstanding Registrable Securities affected by such amendment, modification, supplement, waiver or
consent; provided that no amendment, modification, supplement, waiver or consent to any departure
from the provisions of Section 5 hereof shall be effective as against any Holder of Registrable
Securities unless consented to in writing by such Holder. Any amendments, modifications,
supplements, waivers or consents pursuant to this Section 6(b) shall be by a writing executed by
each of the parties hereto.

     (c) Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, registered first-class mail, telecopier, or any courier
guaranteeing overnight delivery (i) if to a Holder, at the most current address given by such
Holder to the Issuers by means of a notice given in accordance with the provisions of this Section
6(c), which address initially is, with respect to the Initial Purchasers, the address set forth in
the Purchase Agreement; (ii) if to the Issuers and the Guarantors, initially at the Issuers’
address set forth in the Purchase Agreement and thereafter at such other address, notice of which
is given in accordance with the provisions of this Section 6(c); and (iii) to such other persons at
their respective addresses as provided in the Purchase Agreement and thereafter at such other
address, notice of which is given in accordance with the provisions of this Section 6(c). All such
notices and communications shall be deemed to have been duly given: at the time delivered by hand,
if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if
mailed; when receipt is acknowledged, if telecopied; and on the next Business Day if timely
delivered to an air courier guaranteeing overnight delivery. Copies of all such notices, demands
or other communications shall be concurrently delivered by the Person giving the same to the
Trustee, at the address specified in the Indenture.

     (d) Successors and Assigns. This Agreement shall inure to the benefit of and be binding
upon the successors, assigns and transferees of each of the parties, including, without limitation
and without the need for an express assignment, subsequent Holders; provided that nothing herein
shall be deemed to permit any assignment, transfer or other disposition of Registrable Securities
in violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any
Holder shall acquire Registrable Securities in any manner, whether by operation of law or
otherwise, such Registrable Securities shall be held subject to all the terms of this Agreement,
and by taking and holding such Registrable Securities such Person shall be conclusively deemed to
have agreed to be bound by and to perform all of the terms and provisions of this Agreement and
such Person shall be entitled to receive the benefits hereof. The
Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or
obligation to the Issuers or the Guarantors with respect to any failure by a Holder to comply with,
or any breach by any Holder of, any of the obligations of such Holder under this Agreement.

-16-

 

     (e) Third Party Beneficiaries. Each Holder shall be a third party beneficiary to the
agreements made hereunder between the Issuers and the Guarantors, on the one hand, and the Initial
Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the
extent it deems such enforcement necessary or advisable to protect its rights or the rights of
other Holders hereunder.

     (f) Counterparts. This Agreement may be executed in any number of counterparts and by the
parties hereto in separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same agreement.

     (g) Headings. The headings in this Agreement are for convenience of reference only, are
not a part of this Agreement and shall not limit or otherwise affect the meaning hereof.

     (h) Governing Law. This Agreement, and any claim, controversy or dispute arising under or
related to this Agreement, shall be governed by and construed in accordance with the laws of the
State of New York.

     (j) Entire Agreement; Severability. This Agreement contains the entire agreement between
the parties relating to the subject matter hereof and supersedes all oral statements and prior
writings with respect thereto. If any term, provision, covenant or restriction contained in this
Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable or
against public policy, the remainder of the terms, provisions, covenants and restrictions contained
herein shall remain in full force and effect and shall in no way be affected, impaired or
invalidated. The Issuers, the Guarantors and the Initial Purchasers shall endeavor in good faith
negotiations to replace the invalid, void or unenforceable provisions with valid provisions the
economic effect of which comes as close as possible to that of the invalid, void or unenforceable
provisions.

-17-

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.

	 	 	 	 	 
	 	MPT OPERATING PARTNERSHIP, L.P.

BY: MEDICAL PROPERTIES TRUST, LLC,
 ITS GENERAL PARTNER
 	 
	 
	 	BY: MEDICAL PROPERTIES TRUST, INC., ITS 
SOLE MEMBER
 	 
	 
	 	By:  	            /s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President and
 Chief
Financial Officer 	 
	 
	 	MPT FINANCE CORPORATION

 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	President, Secretary and
 General Manager 	 
	 
	 	MEDICAL PROPERTIES TRUST, INC.

 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President and
 Chief
Financial Officer 	 
	 

-18-

 

	 	 	 	 	 
	 	
MPT OF VICTORVILLE, LLC

MPT OF BUCKS COUNTY, LLC

MPT OF BLOOMINGTON, LLC

MPT OF COVINGTON, LLC

MPT OF DENHAM SPRINGS, LLC

MPT OF REDDING, LLC

MPT OF CHINO, LLC

MPT OF SHERMAN OAKS, LLC

MPT OF DALLAS LTACH, LLC

MPT OF PORTLAND, LLC

MPT OF WARM SPRINGS, LLC

MPT OF VICTORIA, LLC

MPT OF LULING, LLC

MPT OF HUNTINGTON BEACH, LLC

MPT OF WEST ANAHEIM, LLC

MPT OF LA PALMA, LLC

MPT OF PARADISE VALLEY, LLC

MPT OF SOUTHERN CALIFORNIA, LLC

MPT OF TWELVE OAKS, LLC

MPT OF SHASTA, LLC

MPT OF WEBSTER, LLC

MPT OF TUCSON, LLC

MPT OF BOSSIER CITY, LLC

MPT OF WEST VALLEY CITY, LLC

MPT OF IDAHO FALLS, LLC

MPT OF POPLAR BLUFF, LLC

MPT OF BENNETTSVILLE, LLC

MPT OF DETROIT, LLC

MPT OF BRISTOL, LLC

MPT OF NEWINGTON, LLC

MPT OF ENFIELD, LLC

MPT OF PETERSBURG, LLC

MPT OF FAYETTEVILLE, LLC

4499 ACUSHNET AVENUE, LLC

8451 PEARL STREET, LLC

MPT OF GARDEN GROVE HOSPITAL, LLC

MPT OF GARDEN GROVE MOB, LLC

MPT OF SAN DIMAS HOSPITAL, LLC

MPT OF SAN DIMAS MOB, LLC

MPT OF CHERAW, LLC

MPT OF FT. LAUDERDALE, LLC.

MPT OF PROVIDENCE, LLC

MPT OF SPRINGFIELD, LLC

MPT OF WARWICK, LLC

MPT OF RICHARDSON, LLC

MPT OF ROUND ROCK, LLC

MPT OF SHENANDOAH, LLC

MPT OF HILLSBORO, LLC

MPT OF FLORENCE, LLC
	 
	 

 

 

	 	 	 	 	 
	 	
MPT OF CLEAR LAKE, LLC

MPT OF TOMBALL, LLC

MPT OF GILBERT, LLC

MPT OF CORINTH, LLC

MPT OF BAYONNE, LLC

MPT OF ALVARADO, LLC

MPT OF MORGANTOWN, LLC

 	 
	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
     sole member of each of the above entities
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
        its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	
 	 
	 	By:  	            /s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President and

Chief Financial Officer 	 

-2-

 

					
	 	

MPT OF BUCKS COUNTY, L.P.

 	 
	 	By:  	MPT OF BUCKS COUNTY, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	       MPT OPERATING PARTNERSHIP, L.P.,
         its sole member
 	 
	 

					
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
       its general partner
 	 
	 

					
	 	By:  	         MEDICAL PROPERTIES TRUST, INC,
                      its sole member
 	 
	 

					
	 	
MPT OF DALLAS LTACH, L.P.

 	 
	 	By:  	MPT OF DALLAS LTACH, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	       MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 
	 	 	 	 

					
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC
                            its sole member
 	 

					
	 	

MPT OF WARM SPRINGS,
L.P.

 	 
	 	By:  	MPT OF WARM SPRINGS, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	       MPT OPERATING PARTNERSHIP, L.P.,
         its sole member
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, LLC,
        its general partner
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, INC,
                              its sole member
 	 

					
	 	

MPT OF VICTORIA, L.P.

 	 
	 	By:  	MPT OF VICTORIA, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, LLC,
        its general partner
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, INC,
                              its sole member
 	 

 

 

					
	 	
MPT OF LULING, L.P.

 	 
	 	By:  	MPT OF LULING, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
         its sole member
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, LLC,
        its general partner
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF HUNTINGTON BEACH, L.P.

 	 
	 	By:  	MPT OF HUNTINGTON BEACH, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
         its sole member
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, LLC,
       its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
                              its sole member
 	 
	 

					
	 	
MPT OF WEST ANAHEIM, L.P.

 	 
	 	By:  	MPT OF WEST ANAHEIM, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	       MPT OPERATING PARTNERSHIP, L.P.,
         its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, INC,
                              its sole member
 	 
	 

					
	 	
MPT OF LA PALMA, L.P.

 	 
	 	By:  	MPT OF LA PALMA, LLC, its general partner
 	 

	 	 	 	 	 
	 	By:  	               MPT OPERATING PARTNERSHIP, L.P.,
         its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
        its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
                             its sole member
 	 

-2-

 

					
	 	

MPT OF PARADISE VALLEY, L.P.

 	 
	 	By:  	MPT OF PARADISE VALLEY, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	      MPT OPERATING PARTNERSHIP, L.P.,
         its sole member
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF SOUTHERN CALIFORNIA, L.P.

 	 
	 	By:  	MPT OF SOUTHERN CALIFORNIA, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
         its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
        its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF TWELVE OAKS, L.P.

 	 
	 	By:  	MPT OF TWELVE OAKS, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	       MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF SHASTA, L.P.

 	 
	 	By:  	MPT OF SHASTA, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	       MPT OPERATING PARTNERSHIP, L.P.,
         its sole member
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, LLC,
                            its general partner
 	 

-3-

 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF WEBSTER, L.P.

 	 
	 	By:  	MPT OF WEBSTER, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
         its sole member
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, LLC,
        its general partner
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, INC,
                              its sole member
 	 

					
	 	

MPT OF GARDEN GROVE HOSPITAL, L.P.

 	 
	 	By:  	MPT OF GARDEN GROVE HOSPITAL, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC, its sole member
 	 

					
	 	

MPT OF GARDEN GROVE MOB, L.P.

 	 
	 	By:  	MPT OF GARDEN GROVE MOB, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, LLC,
                           its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC, its sole member
 	 

					
	 	

MPT OF SAN DIMAS HOSPITAL, L.P.

 	 
	 	By:  	MPT OF SAN DIMAS HOSPITAL, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	                      MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

-4-

 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC, its sole member
 	 

					
	 	

MPT OF SAN DIMAS MOB, L.P.

 	 
	 	By:  	MPT OF SAN DIMAS MOB, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P., 
its sole member
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
its sole member
 	 

					
	 	

MPT OF RICHARDSON, L.P.

 	 
	 	By:  	MPT OF RICHARDSON, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC, its sole member
 	 

					
	 	

MPT OF ROUND ROCK, L.P.

 	 
	 	By:  	MPT OF ROUND ROCK, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	       MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
 its sole member
 	 

					
	 	

MPT OF SHENANDOAH, L.P.

 	 
	 	By:  	MPT OF SHENANDOAH, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

-5-

 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
 its sole member
 	 

					
	 	

MPT OF HILLSBORO, L.P.

 	 
	 	By:  	MPT OF HILLSBORO, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC,
 its sole member
 	 

					
	 	

MPT OF CLEAR LAKE, L.P.

 	 
	 	By:  	MPT OF CLEAR LAKE, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	       MPT OPERATING PARTNERSHIP, L.P.,
         its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC, its sole member
 	 

					
	 	

MPT OF TOMBALL, L.P.

 	 
	 	By:  	MPT OF TOMBALL, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC, its sole member
 	 

					
	 	

MPT OF CORINTH, L.P.

 	 
	 	By:  	MPT OF CORINTH, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

-6-

 

					
	 	
 	 
	 	By:  	                         MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	                            MEDICAL PROPERTIES TRUST, INC, its sole member
 	 
	 

					
	 	
MPT OF ALVARADO, L.P.

 	 
	 	By:  	MPT OF ALVARADO, LLC, its general partner
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC, 
its sole member
 	 

					
	 	
 	 
	 	By:  	/s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President
and Chief Financial Officer 	 
	 

-7-

 

					
	 	

MOUNTAIN VIEW — MPT HOSPITAL, LLC

 	 
	 	By:  	MPT OF IDAHO FALLS, LLC, its managing member
 	 

					
	 	
 	 
	 	By:  	MPT OPERATING PARTNERSHIP, L.P.,
its sole member
 	 

					
	 	
 	 
	 	By:  	         MEDICAL PROPERTIES TRUST, LLC,
its general partner
 	 

					
	 	
 	 
	 	By:  	MEDICAL PROPERTIES TRUST, INC, 
its sole member
 	 

	 	 	 	 	 
	 	 	 
	 	By:  	                     /s/ R. Steven Hamner
 	 
	 	 	Name:  	R. Steven Hamner 	 
	 	 	Title:  	Executive Vice President

and Chief Financial Officer 	 
	 

 

	 	 	 	 	 
	Confirmed and accepted as of the date first above written:

J.P. MORGAN SECURITIES LLC

For itself and on behalf of the

several Initial Purchasers

 	 
	By:  	/s/ Kenneth A. Lang
 	 
	 	Authorized Signatory 	 
	 	 	 

 

 

	 	 	 	 	 

Schedule 1

Initial Guarantors

	 	 	 

	MPT of Victorville, LLC

	 	MPT of Bucks County, L.P.
	MPT of Bucks County, LLC

	 	MPT of Dallas LTACH, L.P.
	MPT of Bloomington, LLC

	 	MPT of Warm Springs, L.P.
	MPT of Covington, LLC

	 	MPT of Victoria, L.P.
	MPT of Denham Springs, LLC

	 	MPT of Luling, L.P.
	MPT of Redding, LLC

	 	MPT of Huntington Beach, L.P.
	MPT of Chino, LLC

	 	MPT of West Anaheim, L.P.
	MPT of Sherman Oaks, LLC

	 	MPT of La Palma, L.P.
	MPT of Dallas LTACH, LLC

	 	MPT of Paradise Valley, L.P.
	MPT of Portland, LLC

	 	MPT of Southern California, L.P.
	MPT of Warm Springs, LLC

	 	MPT of Twelve Oaks, L.P.
	MPT of Victoria, LLC

	 	MPT of Shasta, L.P.
	MPT of Luling, LLC

	 	MPT of Webster, L.P.
	MPT of Huntington Beach, LLC

	 	MPT of Garden Grove Hospital, L.P.
	MPT of West Anaheim, LLC

	 	MPT of Garden Grove MOB, L.P.
	MPT of La Palma, LLC

	 	MPT of San Dimas Hospital, L.P.
	MPT of Paradise Valley, LLC

	 	MPT of San Dimas MOB, L.P.
	MPT of Southern California, LLC

	 	MPT of Richardson, L.P.
	MPT of Twelve Oaks, LLC

	 	MPT of Round Rock, L.P.
	MPT of Shasta, LLC

	 	MPT of Shenandoah, L.P.
	MPT of Webster, LLC

	 	MPT of Hillsboro, L.P.
	MPT of Tucson, LLC

	 	MPT of Clear Lake, L.P.
	MPT of Bossier City, LLC

	 	MPT of Tomball, L.P.
	MPT of West Valley City, LLC

	 	MPT of Corinth, L.P.
	MPT of Idaho Falls, LLC

	 	MPT of Alvarado, L.P.
	MPT of Poplar Bluff, LLC
	 	 
	MPT of Bennettsville, LLC
	 	 
	MPT of Detroit, LLC
	 	 
	MPT of Bristol, LLC
	 	 
	MPT of Newington, LLC
	 	 
	MPT of Enfield, LLC
	 	 
	MPT of Petersburg, LLC
	 	 
	MPT of Fayetteville, LLC
	 	 
	4499 Acushnet Avenue, LLC
	 	 
	8451 Pearl Street, LLC
	 	 
	MPT of Garden Grove Hospital, LLC
	 	 
	MPT of Garden Grove MOB, LLC
	 	 
	MPT of San Dimas Hospital, LLC
	 	 
	MPT of San Dimas MOB, LLC
	 	 
	MPT of Cheraw, LLC
	 	 
	MPT of Ft. Lauderdale, LLC
	 	 
	MPT of Providence, LLC
	 	 
	MPT of Springfield, LLC
	 	 
	MPT of Warwick, LLC
	 	 
	Mountain View- MPT Hospital, LLC
	 	 
	MPT of Richardson, LLC
	 	 
	MPT of Round Rock, LLC
	 	 
	MPT of Shenandoah, LLC
	 	 
	MPT of Hillsboro, LLC
	 	 
	MPT of Florence, LLC
	 	 
	MPT of Clear Lake, LLC
	 	 
	MPT of Tomball, LLC
	 	 
	MPT of Gilbert, LLC
	 	 
	MPT of Corinth, LLC
	 	 
	MPT of Bayonne, LLC
	 	 
	MPT of Alvarado, LLC
	 	 
	MPT of Morgantown, LLC
	 	 

 

 

Annex A

Counterpart to Registration Rights Agreement

     The undersigned hereby absolutely, unconditionally and irrevocably agrees as a Guarantor (as
defined in the Registration Rights Agreement, dated April 26, 2011 by and among MPT Operating
Partnership, L.P., a Delaware limited partnership, MPT Finance Corporation, a Delaware corporation,
the guarantors party thereto and J.P. Morgan Securities LLC, on behalf of itself and the other
Initial Purchasers) to be bound by the terms and provisions of such Registration Rights Agreement.

     IN WITNESS WHEREOF, the undersigned has executed this counterpart as of _______________, 201___.

	 	 	 	 	 
	 	[GUARANTOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}]]