Document:

Form of Indenture

 Exhibit 4.4 
 Form of Indenture 
 AUXILIUM PHARMACEUTICALS, INC. 
 ISSUER 
 and 
 [                                      
  ] 
 INDENTURE TRUSTEE 
  

 INDENTURE 
 Dated as of                         , 2006 

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page
	 ARTICLE I        DEFINITIONS AND INCORPORATION BY REFERENCE
	  	1
			
	 Section 1.01
	 	 Definitions
	  	1
	 Section 1.02
	 	 Other Definitions
	  	5
	 Section 1.03
	 	 Incorporation by Reference of Trust Indenture Act
	  	5
	 Section 1.04
	 	 Rules of Construction
	  	6
		
	 ARTICLE II        THE SECURITIES
	  	6
			
	 Section 2.01
	 	 Issuable in Series
	  	6
	 Section 2.02
	 	 Establishment of Terms of Series of Securities
	  	6
	 Section 2.03
	 	 Execution and Authentication
	  	8
	 Section 2.04
	 	 Registrar and Paying Agent
	  	9
	 Section 2.05
	 	 Paying Agent to Hold Money in Trust
	  	10
	 Section 2.06
	 	 Holder Lists
	  	10
	 Section 2.07
	 	 Transfer and Exchange
	  	10
	 Section 2.08
	 	 Mutilated, Destroyed, Lost and Stolen Securities
	  	10
	 Section 2.09
	 	 Outstanding Securities
	  	11
	 Section 2.10
	 	 Treasury Securities
	  	11
	 Section 2.11
	 	 Temporary Securities
	  	11
	 Section 2.12
	 	 Cancellation
	  	12
	 Section 2.13
	 	 Defaulted Interest
	  	12
	 Section 2.14
	 	 Global Securities
	  	12
	 Section 2.15
	 	 CUSIP Numbers
	  	13
		
	 ARTICLE III        REDEMPTION
	  	14
			
	 Section 3.01
	 	 Notice to Trustee
	  	14
	 Section 3.02
	 	 Selection of Securities to be Redeemed
	  	14
	 Section 3.03
	 	 Notice of Redemption
	  	14
	 Section 3.04
	 	 Effect of Notice of Redemption
	  	15
	 Section 3.05
	 	 Deposit of Redemption Price
	  	15
	 Section 3.06
	 	 Securities Redeemed in Part
	  	15

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	 	 	  	Page
	 ARTICLE IV        COVENANTS
	  	15
			
	 Section 4.01
	 	 Payment of Principal and Interest
	  	15
	 Section 4.02
	 	 SEC Reports
	  	15
	 Section 4.03
	 	 Compliance Certificate
	  	16
	 Section 4.04
	 	 Stay, Extension and Usury Laws
	  	16
		
	 ARTICLE V        SUCCESSORS
	  	16
			
	 Section 5.01
	 	 When Company May Merge, Etc
	  	16
	 Section 5.02
	 	 Successor Corporation Substituted
	  	16
		
	 ARTICLE VI        DEFAULTS AND REMEDIES
	  	17
			
	 Section 6.01
	 	 Events of Default
	  	17
	 Section 6.02
	 	 Acceleration of Maturity; Rescission and Annulment
	  	18
	 Section 6.03
	 	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	18
	 Section 6.04
	 	 Trustee May File Proofs of Claim
	  	19
	 Section 6.05
	 	 Trustee May Enforce Claims Without Possession of Securities
	  	20
	 Section 6.06
	 	 Application of Money Collected
	  	20
	 Section 6.07
	 	 Limitation on Suits
	  	20
	 Section 6.08
	 	 Unconditional Right of Holders to Receive Principal and Interest
	  	21
	 Section 6.09
	 	 Restoration of Rights and Remedies
	  	21
	 Section 6.10
	 	 Rights and Remedies Cumulative
	  	21
	 Section 6.11
	 	 Delay or Omission Not Waiver
	  	21
	 Section 6.12
	 	 Control by Holders
	  	21
	 Section 6.13
	 	 Waiver of Past Defaults
	  	22
	 Section 6.14
	 	 Undertaking for Costs
	  	22
		
	 ARTICLE VII        TRUSTEE
	  	22
			
	 Section 7.01
	 	 Duties of Trustee
	  	22
	 Section 7.02
	 	 Rights of Trustee
	  	24
	 Section 7.03
	 	 Individual Rights of Trustee
	  	24
	 Section 7.04
	 	 Trustee’s Disclaimer
	  	25
	 Section 7.05
	 	 Notice of Defaults
	  	25
	 Section 7.06
	 	 Reports by Trustee to Holders
	  	25
	 Section 7.07
	 	 Compensation and Indemnity
	  	25

  

 -ii- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	 	 	  	Page
	 Section 7.08
	 	 Replacement of Trustee
	  	26
	 Section 7.09
	 	 Successor Trustee by Merger, etc
	  	27
	 Section 7.10
	 	 Eligibility; Disqualification
	  	27
	 Section 7.11
	 	 Preferential Collection of Claims Against Company
	  	27
		
	 ARTICLE VIII        SATISFACTION AND DISCHARGE; DEFEASANCE
	  	27
			
	 Section 8.01
	 	 Satisfaction and Discharge of Indenture.
	  	27
	 Section 8.02
	 	 Application of Trust Funds; Indemnification
	  	28
	 Section 8.03
	 	 Legal Defeasance of Securities of any Series
	  	28
	 Section 8.04
	 	 Covenant Defeasance
	  	30
	 Section 8.05
	 	 Repayment to Company
	  	31
	 Section 8.06
	 	 Reinstatement
	  	31
		
	 ARTICLE IX        AMENDMENTS AND WAIVERS
	  	32
			
	 Section 9.01
	 	 Without Consent of Holders
	  	32
	 Section 9.02
	 	 With Consent of Holders
	  	33
	 Section 9.03
	 	 Limitations
	  	33
	 Section 9.04
	 	 Compliance with Trust Indenture Act
	  	34
	 Section 9.05
	 	 Revocation and Effect of Consents
	  	34
	 Section 9.06
	 	 Notation on or Exchange of Securities
	  	34
	 Section 9.07
	 	 Trustee Protected
	  	34
		
	 ARTICLE X        MISCELLANEOUS
	  	34
			
	 Section 10.01
	 	 Trust Indenture Act Controls
	  	34
	 Section 10.02
	 	 Notices
	  	35
	 Section 10.03
	 	 Communication by Holders with Other Holders
	  	35
	 Section 10.04
	 	 Certificate and Opinion as to Conditions Precedent
	  	35
	 Section 10.05
	 	 Statements Required in Certificate or Opinion
	  	36
	 Section 10.06
	 	 Rules by Trustee and Agents
	  	36
	 Section 10.07
	 	 Legal Holidays
	  	36
	 Section 10.08
	 	 No Recourse Against Others
	  	36
	 Section 10.09
	 	 Counterparts
	  	36
	 Section 10.10
	 	 Governing Laws
	  	36

  

 -iii- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	 	 	  	Page
	 Section 10.11
	 	 No Adverse Interpretation of Other Agreements
	  	37
	 Section 10.12
	 	 Successors
	  	37
	 Section 10.13
	 	 Severability
	  	37
	 Section 10.14
	 	 Table of Contents, Headings, Etc
	  	37
	 Section 10.15
	 	 Securities in a Foreign Currency
	  	37
	 Section 10.16
	 	 Judgment Currency
	  	37
		
	 ARTICLE XI        SINKING FUNDS
	  	38
			
	 Section 11.01
	 	 Applicability of Article
	  	38
	 Section 11.02
	 	 Satisfaction of Sinking Fund Payments with Securities
	  	38
	 Section 11.03
	 	 Redemption of Securities for Sinking Fund
	  	39

  

 -iv- 

 AUXILIUM PHARMACEUTICALS, INC. 
 Reconciliation and tie between Trust Indenture Act of 1939 and 
 Indenture,
dated as of                 , 2006 
  

					
	 Section 310
	 	(a)(1)	  	7.10
		 	(a)(2)	  	7.10
		 	(a)(3)	  	NOT APPLICABLE
		 	(a)(4)	  	NOT APPLICABLE
		 	(a)(5)	  	7.10
		 	(b)	  	7.10
	 Section 311
	 	(a)	  	7.11
		 	(b)	  	7.11
		 	(c)	  	NOT APPLICABLE
	 Section 312
	 	(a)	  	2.06
		 	(b)	  	10.03
		 	(c)	  	10.03
	 Section 313
	 	(a)	  	7.06
		 	(b)(1)	  	7.06
		 	(b)(2)	  	7.06
		 	(c)(1)	  	7.06
		 	(d)	  	7.06
	 Section 314
	 	(a)	  	4.02, 10.05
		 	(b)	  	NOT APPLICABLE
		 	(c)(1)	  	10.04
		 	(c)(2)	  	10.04
		 	(c)(3)	  	NOT APPLICABLE
		 	(d)	  	NOT APPLICABLE
		 	(e)	  	10.05
		 	(f)	  	NOT APPLICABLE
	 Section 315
	 	(a)	  	7.01
		 	(b)	  	7.05
		 	(c)	  	7.01
		 	(d)	  	7.01
		 	(e)	  	6.14
	 Section 316
	 	(a)	  	2.09
		 	(a)(1)(a)	  	6.12
		 	(a)(1)(b)	  	6.13
		 	(b)	  	6.08
	 Section 317
	 	(a)(1)	  	6.03
		 	(a)(2)	  	6.04
		 	(b)	  	2.05
	 Section 318
	 	(a)	  	10.01

  

 -v- 

 Indenture dated as of
                        , 2006 between Auxilium Pharmaceuticals, Inc., a Delaware corporation
(“Company”), and             , a              corporation, as trustee
(“Trustee”). 
 Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the
Holders of the Securities issued under this Indenture. 
 ARTICLE I 
 DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 1.01 Definitions.

 “Additional Amounts” means any additional amounts which are required hereby or by any Security, under circumstances
specified herein or therein, to be paid by the Company in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such Holders. 
 “Affiliate” of any specified person means any other person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified person. For the purposes
of this definition, “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any person, shall mean the possession, directly or indirectly, of
the power to direct or cause the direction of the management or policies of such person, whether through the ownership of voting securities or by agreement or otherwise. 
 “Agent” means any Registrar, Paying Agent or Service Agent. 
 “Applicable
Procedures” means, with respect to any transfer or transaction involving a Global Security or beneficial interest therein, the rules and procedures of DTC or any successor Depositary, in each case to the extent applicable to such
transaction and as in effect from time to time. 
 “Authorized Newspaper” means a newspaper in an official language
of the country of publication customarily published at least once a day for at least five days in each calendar week and of general circulation in the place in connection with which the term is used. If it shall be impractical in the opinion of the
Trustee to make any publication of any notice required hereby in an Authorized Newspaper, any publication or other notice in lieu thereof that is made or given by the Trustee shall constitute a sufficient publication of such notice. 
 “Bearer” means anyone in possession from time to time of a Bearer Security. 
 “Bearer Security” means any Security, including any interest coupon appertaining thereto, that does not provide for the identification
of the Holder thereof. 
 “Board of Directors” means the Board of Directors of the Company or any duly authorized committee
thereof. 

 “Board Resolution” means a copy of a resolution certified by the Secretary or an
Assistant Secretary of the Company to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the Trustee. 
 “Business Day” means, unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture hereto for a
particular Series, any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close. 
 “Capital Interests” means any and all shares, interests, participations, rights or other equivalents (however designated) of capital
stock, including, without limitation, with respect to partnerships, partnership interests (whether general or limited) and any other interest or participation that confers on a person the right to receive a share of the profits and losses of, or
distributions of assets of, such partnership. 
 “Company” means the party named as such above until a successor replaces it
and thereafter means the successor. 
 “Company Order” means a written order signed in the name of the Company by two
Officers, one of whom must be the Company’s principal executive officer, principal financial officer or principal accounting officer. 
 “Company Request” means a written request signed in the name of the Company by its Chief Executive Officer, Chief Financial Officer or a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an
Assistant Secretary, and delivered to the Trustee. 
 “Corporate Trust Office” means the office of the Trustee at which at
any particular time its corporate trust business shall be principally administered. 
 “Default” means any event which is,
or after notice or passage of time or both would be, an Event of Default. 
 “Depository” means, with respect to the
Securities of any Series issuable or issued in whole or part in the form of one or more Global Securities, the person designated as Depositary for such Series by the Company, which Depository shall be a clearing agency registered under the Exchange
Act; and if at any time there is more than one such person, “Depository” as used with respect to the Securities of any Series shall mean the Depository with respect to the Securities of such Series. 
 “Discount Security” means any Security that provides for an amount less than the stated principal amount thereof to be due and payable
upon declaration of acceleration of the maturity thereof pursuant to Section 6.02. 
 “Dollars” and
“$” means the currency of The United States of America. 
 “DTC” means the Depository Trust Company, a New
York corporation. 
  

 2 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder. 
 “Foreign Currency” means any currency or currency unit issued by a government other
than the government of The United States of America. 
 “Foreign Government Obligations” means, with respect to Securities
of any Series that are denominated in a Foreign Currency, (i) direct obligations of the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged or
(ii) obligations of a person controlled or supervised by or acting as an agency or instrumentality of such government the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by such government, which, in
either case under clauses (i) or (ii), are not callable or redeemable at the option of the issuer thereof. 
 “GAAP”
means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Standards Board or in such other statements by such other entity as have been approved by a significant
segment of the accounting profession. 
 “Global Security” or “Global Securities” means a Security or
Securities, as the case may be, in the form established pursuant to Section 2.02 evidencing all or part of a Series of Securities, issued to the Depository for such Series or its nominee, and registered in the name of such Depository or
nominee. 
 “Holder” means a person in whose name a Security is registered or the holder of a Bearer Security. 

“Indenture” means this Indenture as amended or supplemented from time to time and shall include the form and terms of particular
Series of Securities established as contemplated hereunder. 
 “interest” with respect to any Discount Security which by its
terms bears interest only after Maturity means interest payable after Maturity. 
 “Maturity,” when used with respect to any
Security or installment of principal thereof, means the date on which the principal of such Security or such installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of
acceleration, call for redemption or otherwise. 
 “Officer” means the Chief Executive Officer, Chief Financial Officer, any
Vice-President, the Treasurer, the Secretary, any Assistant Treasurer or any Assistant Secretary of the Company. 
 “Officers’
Certificate” means a certificate signed by two Officers, one of whom must be the Company’s principal executive officer, principal financial officer or principal accounting officer. 
  

 3 

 “Opinion of Counsel” means a written opinion of legal counsel who is reasonably
acceptable to the Trustee. The counsel may be an employee of or counsel to the Company. 
 “person” means any individual,
corporation, partnership, joint venture, association, limited liability company, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional
Amounts in respect of, the Security. 
 “Responsible Officer” means any officer of the Trustee in its Corporate Trust Office
with direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom any corporate trust matter is referred because of his or her knowledge of and
familiarity with a particular subject. 
 “SEC” means the Securities and Exchange Commission. 
 “Securities” means the debentures, notes or other debt instruments of the Company of any Series authenticated and delivered under this
Indenture. 
 “Series” or “Series of Securities” means each series of debentures, notes or other debt
instruments of the Company created pursuant to Sections 2.01 and 2.02 hereof. 
 “Stated Maturity” means when used with
respect to any Security or any installment of principal thereof or interest thereon, the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable.

 “Subsidiary” means, with respect to any person, any corporation, association or other business entity of which more than
50% of the total voting power of shares of Capital Interests entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof or, in the case of a partnership, more than 50% of the
partners’ Capital Interests (considering all partners’ Capital Interests as a single class), is at the time owned or controlled, directly or indirectly, by such person or one or more of the other Subsidiaries of such person or combination
thereof. 
 “TIA” means the Trust Indenture Act of 1939 (15 U.S. Code Sections 77aaa-77bbbb) as in effect on the date of
this Indenture and the rules and regulations promulgated thereunder; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any such amendment, the Trust
Indenture Act as so amended. 
 “Trustee” means the person named as the “Trustee” in the first paragraph of this
instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean each person who is then a Trustee hereunder, and if at any time there is more than one
such person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series. 
  

 4 

 “U.S. Government Obligations” means securities which are (i) direct obligations of
The United States of America for the payment of which its full faith and credit is pledged or (ii) obligations of a person controlled or supervised by and acting as an agency or instrumentality of The United States of America the payment of
which is unconditionally guaranteed as a full faith and credit obligation by The United States of America, and which are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank or
trust company as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository receipt,
provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation
evidenced by such depository receipt. 
 Section 1.02 Other Definitions. 
  

			
	 TERM
	  	DEFINED IN
SECTION
	 “Bankruptcy Law”
	  	6.01
	 “Custodian”
	  	6.01
	 “Event of Default”
	  	6.01
	 “Judgment Currency”
	  	10.16
	 “Legal Holiday”
	  	10.07
	 “mandatory sinking fund payment”
	  	11.01
	 “Market Exchange Rate”
	  	10.15
	 “New York Banking Day”
	  	10.16
	 “optional sinking fund payment”
	  	11.01
	 “Paying Agent”
	  	2.04
	 “Registrar”
	  	2.04
	 “Required Currency”
	  	10.16
	 “Service Agent”
	  	2.04
	 “successor person”
	  	5.01

 Section 1.03 Incorporation by Reference of Trust Indenture Act. 
 Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following
TIA terms used in this Indenture have the following meanings: 
 “Commission” means the SEC. 
 “indenture securities” means the Securities. 
 “indenture security holder” means a Holder. 
 “indenture to be qualified”
means this Indenture. 
 “indenture trustee” or “institutional trustee” means the Trustee. 
  

 5 

 “obligor” on the indenture securities means the Company and any successor obligor upon
the Securities. 
 All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined
by SEC rule under the TIA and not otherwise defined herein are used herein as so defined. 
 Section 1.04 Rules of Construction.

 Unless the context otherwise requires: 
 (a) a term has the meaning assigned to it; 
 (b) an accounting term not otherwise defined has the meaning
assigned to it in accordance with generally accepted accounting principles; 
 (c) references to “generally accepted accounting
principles” and “GAAP’ shall mean generally accepted accounting principles in effect as of the time when and for the period as to which such accounting principles are to be applied; 
 (d) “or” is not exclusive; 
 (e)
words in the singular include the plural, and in the plural include the singular; and 
 (f) provisions apply to successive events and
transactions. 
 ARTICLE II 
 THE SECURITIES 
 Section 2.01 Issuable in Series. The aggregate principal amount of Securities
that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of a Series shall be identical except as may be set forth or determined in the manner provided in a Board
Resolution, supplemental indenture or Officers’ Certificate detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution. In the case of Securities of a Series to be issued from time to time, the Board
Resolution, Officers’ Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity
date, record date or date from which interest shall accrue) are to be determined. Securities may differ between Series in respect of any matters, provided that all Series of Securities shall be equally and ratably entitled to the benefits of the
Indenture. 
 Section 2.02 Establishment of Terms of Series of Securities. At or prior to the issuance of any Securities within a
Series, the following shall be established (as to the Series generally, in the case of Subsection 2.02(a) and either as to such Securities within the Series or as to the Series generally in the case of Subsections 2.02(b) through 2.02(s) by or
pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board Resolution, supplemental indenture or an Officers’ Certificate: 
 (a) the form and title of the Series (which shall distinguish the Securities of that particular Series from the Securities of any other Series); 
  

 6 

 (b) the price or prices (expressed as a percentage of the principal amount thereof) at which the
Securities of the Series will be issued; 
 (c) any limit upon the aggregate principal amount of the Securities of the Series which may be
authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the Series pursuant to Section 2.07, 2.08, 2.11, 3.06
or 9.06); 
 (d) the date or dates on which the principal of the Securities of the Series is payable; 
 (e) the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates (including, but not
limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or dates on which such
interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date; 
 (f) the
place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the Securities of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon
the Company in respect of the Securities of such Series and this Indenture may be served, and the method of such payment, if by wire transfer, mail or other means; 
 (g) if applicable, the period or periods within which, the price or prices at which and the terms and conditions upon which the Securities of the Series may be redeemed, in whole or in part, at the option of the
Company; 
 (h) the obligation, if any, of the Company to redeem or purchase the Securities of the Series pursuant to any sinking fund or
analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the Series shall be redeemed or purchased, in whole or in part,
pursuant to such obligation; 
 (i) the dates, if any, on which and the price or prices at which the Securities of the Series will be
repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations; 
 (j) if other than denominations of $1,000 and any integral multiple thereof, the denominations in which the Securities of the Series shall be issuable; 
 (k) if other than the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to
Section 6.02; 
  

 7 

 (l) the currency of denomination of the Securities of the Series, which may be Dollars or any Foreign
Currency, and the agency or organization, if any, responsible for overseeing such composite currency; 
 (m) the provisions, if any, relating
to any security provided for the Securities of the Series; 
 (n) any addition to or change in the Events of Default which applies to any
Securities of the Series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.02; 
 (o) any addition to or change in the covenants set forth in Articles IV or V which applies to Securities of the Series; 
 (p) the provisions, if any, relating to conversion of any Securities of such Series, including, if applicable, the securities into which the Securities
are convertible, the conversion price, the conversion period, provisions as to whether conversion will be mandatory, at the option of the Holders or at the option of the Company, the events requiring an adjustment of the conversion price and
provisions affecting conversion if such Series of Securities are redeemed; 
 (q) whether the Securities of such Series will be senior debt
securities or subordinated debt securities and, if applicable, a description of the subordination terms thereof; 
 (r) any depositaries,
interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities of such Series if other than those appointed herein; and 
 (s) any other terms of the Securities of the Series (which may modify or delete any provision of this Indenture insofar as it applies to such Series). 
 All Securities of any one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if
so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officers’ Certificate referred to above, and, unless otherwise provided in such Board Resolution, a Series may be reopened, without the consent of the Holders,
for increases in the aggregate principal amount of such Series and issuances of additional Securities of such Series. 
 Section 2.03
Execution and Authentication. Two Officers shall sign the Securities for the Company by manual or facsimile signature. If an Officer whose signature is on a Security no longer holds that office at the time the Security is authenticated, the
Security shall nevertheless be valid. A Security shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated under this
Indenture. The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or Officers’ Certificate, upon receipt by the
Trustee of a Company Order. Such Company Order may authorize authentication and delivery pursuant to oral or electronic instructions from the Company or its duly authorized agent or 

  

 8 

 
agents, which oral instructions shall be promptly confirmed in writing. Each Security shall be dated the date of its authentication unless otherwise provided
by a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate. The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount for such Series
set forth in the Board Resolution, supplemental indenture hereto or Officers’ Certificate delivered pursuant to Section 2.02, except as provided in Section 2.02 or 2.08. Prior to the issuance of Securities of any Series, the Trustee
shall have received and (subject to Section 7.02) shall be fully protected in relying on: (a) the Board Resolution, supplemental indenture hereto or Officers’ Certificate establishing the form of the Securities of that Series or of
Securities within that Series and the terms of the Securities of that Series or of Securities within that Series, (b) an Officers’ Certificate complying with Section 10.04 and (c) an Opinion of Counsel complying with
Section 10.04. The Trustee shall have the right to decline to authenticate and deliver any Securities of such Series: (a) if the Trustee, being advised by counsel, determines that such action may not be taken lawfully; or (b) if the
Trustee’s by its board of directors or trustees, executive committee or a trust committee of directors and/or vice-presidents shall determine in good faith that such action would expose the Trustee to personal liability to Holders of any then
outstanding Series of Securities. The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities 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 Company or an Affiliate of the Company. 
 Section 2.04 Registrar and Paying Agent. The Company shall maintain, with respect to each Series of Securities, at the place or places
specified with respect to such Series pursuant to Section 2.02, an office or agency where Securities of such Series may be presented or surrendered for payment (“Paying Agent”), where Securities of such Series may be surrendered for
registration of transfer or exchange (“Registrar”) and where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be served (“Service Agent”). The Registrar shall keep a
register with respect to each Series of Securities and to their transfer and exchange. The Company will give prompt written notice to the Trustee of the name and address, and any change in the name or address, of each Registrar, Paying Agent or
Service Agent. If at any time the Company shall fail to maintain any such required Registrar, Paying Agent or Service Agent or shall fail to furnish the Trustee with the name and address thereof, such presentations, surrenders, notices and demands
may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. The Company may also from time to time designate one or
more co-registrars, additional paying agents or additional service agents and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligations to
maintain a Registrar, Paying Agent and Service Agent in each place so specified pursuant to Section 2.02 for Securities of any Series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or
rescission and of any change in the name or address of any such co-registrar, additional paying agent or additional service agent. The term “Registrar” includes any co-registrar; the term “Paying Agent” includes any additional
paying agent; and the term “Service Agent” includes any additional service agent. The Company hereby appoints the Trustee the initial Registrar, Paying Agent and Service Agent for each Series unless another Registrar, Paying Agent or
Service Agent, as the case may be, is appointed prior to the time Securities of that Series are first issued. 
  

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 Section 2.05 Paying Agent to Hold Money in Trust. The Company shall require each Paying Agent
other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the benefit of Holders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or interest on the Series
of Securities, and will notify the Trustee of any default by the Company in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may
require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money. If the Company or a
Subsidiary of the Company acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of Holders of any Series of Securities all money held by it as Paying Agent. 
 Section 2.06 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 of each Series of Securities and shall otherwise comply with TIA Section 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least ten (10) days before each
interest payment date and at such other times as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of Holders of each Series of Securities. 
 Section 2.07 Transfer and Exchange. Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register
a transfer or to exchange them for an equal principal amount of Securities of the same Series, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met. To permit registrations of transfers and
exchanges, the Trustee shall authenticate Securities at the Registrar’s request. No service charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may require payment
of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.06 or 9.06). Neither
the Company nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Securities of any Series for the period beginning at the opening of business fifteen days immediately preceding the mailing of a notice of
redemption of Securities of that Series selected for redemption and ending at the close of business on the day of such mailing, or (b) to register the transfer of or exchange Securities of any Series selected, called or being called for
redemption as a whole or the portion being redeemed of any such Securities selected, called or being called for redemption in part. 
 Section 2.08 Mutilated, Destroyed, Lost and Stolen Securities. 
 (a) If any mutilated Security is surrendered to the
Trustee, the Company shall execute and the Trustee shall authenticate and make available for delivery in exchange therefor a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously
outstanding. If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such 

  

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security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company
or the Trustee that such Security has been acquired by a protected purchaser, the Company shall execute and upon its request the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a
new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the
Company in its discretion may, instead of issuing a new Security, pay such Security. 
 (b) Upon the issuance of any new Security under this
Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. Every
new Security of any Series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall
be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that Series duly issued hereunder. The provisions of this Section are exclusive and
shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section 2.09 Outstanding Securities. The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation,
those reductions in the interest on a Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section as not outstanding. If a Security is replaced pursuant to Section 2.08, it ceases to be
outstanding until the Trustee receives proof satisfactory to it that the replaced Security is held by a protected purchaser. If the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of the Company) holds on the
Maturity of Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on them ceases to accrue. A Security does not cease to be
outstanding because the Company or an Affiliate of the Company holds the Security. In determining whether the Holders of the requisite principal amount of outstanding Securities have given any request, demand, authorization, direction, notice,
consent or waiver hereunder, the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a
declaration of acceleration of the Maturity thereof pursuant to Section 6.02. 
 Section 2.10 Treasury Securities. In
determining whether the Holders of the required principal amount of Securities of a Series have concurred in any request, demand, authorization, direction, notice, consent or waiver, Securities of a Series owned by the Company shall be disregarded,
except that for the purposes of determining whether the Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver, only Securities of a Series that the Trustee knows are so owned shall be
so disregarded. 
 Section 2.11 Temporary Securities. Until definitive Securities are ready for delivery, the Company may
prepare and the Trustee shall authenticate temporary Securities upon a 

  

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Company Order. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers
appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee upon request shall authenticate definitive Securities of the same Series and date of maturity in exchange for temporary Securities. Until so
exchanged, temporary securities shall have the same rights under this Indenture as the definitive Securities. 
 Section 2.12
Cancellation. The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment.
The Trustee shall cancel all Securities surrendered for registration of transfer, exchange, payment, replacement or cancellation in accordance with its customary procedures and deliver such canceled Securities to the Company, unless the Company
otherwise directs; provided that the Trustee shall not be required to destroy Securities. The Company may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation. 
 Section 2.13 Defaulted Interest. If the Company defaults in a payment of interest on a Series of Securities, it shall pay the defaulted
interest, plus, to the extent permitted by law, any interest payable on the defaulted interest, to the persons who are Holders of the Series on a subsequent special record date. The Company shall fix the record date and payment date. At least ten
(10) days before the record date, the Company shall mail to the Trustee and to each Holder of the Series a notice that states the record date, the payment date and the amount of interest to be paid. The Company may pay defaulted interest
in any other lawful manner. 
 Section 2.14 Global Securities  
 (a) Terms of Securities. A Board Resolution, a supplemental indenture hereto or an Officers’ Certificate shall establish whether the Securities of a
Series shall be issued in whole or in part in the form of one or more Global Securities and the Depository for such Global Security or Securities. 
 (b) Transfer and Exchange. Notwithstanding any provisions to the contrary contained in Section 2.07 of the Indenture and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.07 of the Indenture for
Securities registered in the names of Holders other than the Depository for such Security or its nominee only if (i) such Depository notifies the Company that it is unwilling or unable to continue as Depository for such Global Security or if at
any time such Depository ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to appoint a successor Depository registered as a clearing agency under the Exchange Act within 90 days of such
event, (ii) the Company executes and delivers to the Trustee an Officers’ Certificate to the effect that such Global Security shall be so exchangeable or (iii) an Event of Default with respect to the Securities represented by such
Global Security shall have happened and be continuing. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as the Depository shall direct in writing in an
aggregate principal amount equal to the principal amount of the Global Security with like tenor and terms. 
  

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 (c) Except as provided in this Section 2.14(c), a Global Security may not be transferred except as a
whole by the Depository with respect to such Global Security to a nominee of such Depository, by a nominee of such Depository to such Depository or another nominee of such Depository or by the Depository or any such nominee to a successor Depository
or a nominee of such a successor Depository. 
 (d) Legend. Any Global Security issued hereunder shall bear a legend in substantially the
following form: 
 (e) “This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered
in the name of the Depository or a nominee of the Depository. This Security is exchangeable for Securities registered in the name of a person other than the Depository or its nominee only in the limited circumstances described in the Indenture, and
may not be transferred except as a whole by the Depository to a nominee of the Depository, 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 a successor Depository.” 
 (f) Acts of Holders. The Depository, as a Holder, may appoint agents and otherwise authorize
participants to give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture. 
 (g) Payments. Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.02, payment of the
principal of and interest, if any, on any Global Security shall be made to the Holder thereof. 
 (h) Consents, Declaration and Directions.
Except as provided in Section 2.14(g), the Company, the Trustee and any Agent shall treat a person as the Holder of such principal amount of outstanding Securities of such Series represented by a Global Security as shall be specified in a
written statement of the Depository with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers or directions required to be given by the Holders pursuant to this Indenture. 
 (i) The Depository or its nominee, as registered owner of a Global Security, shall be the Holder of such Global Security for all purposes under the
Indenture and the Securities, and owners of beneficial interests in a Global Security shall hold such interests pursuant to the Applicable Procedures. Accordingly, any such owner’s beneficial interest in a Global Security will be shown only on,
and the transfer of such interest shall be effected only through, records maintained by the Depositary or its nominee and such owners of beneficial interests in a Global Security will not be considered the owners or holders thereof. 
 Section 2.15 CUSIP Numbers. The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so,
the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or
as contained in any notice of a redemption and that reliance may be placed only on 

  

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the other elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers.
The Company shall promptly notify the Trustee of any change in “CUSIP” numbers of which the Company becomes aware. 
 ARTICLE III

 REDEMPTION 
 Section 3.01 Notice to Trustee. The Company may, with respect to any Series of Securities, reserve the right to redeem and pay the Series of Securities or may covenant to redeem and pay the Series of Securities or any part
thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities. If a Series of Securities is redeemable and the Company wants or is obligated to redeem prior to the Stated Maturity thereof all or part
of the Series of Securities pursuant to the terms of such Securities, it shall notify the Trustee of the redemption date and the principal amount of Series of Securities to be redeemed. 
 Section 3.02 Selection of Securities to be Redeemed. Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental
indenture or an Officers’ Certificate, if less than all the Securities of a Series are to be redeemed, the Trustee shall select the Securities of the Series to be redeemed in any manner that the Trustee deems fair and appropriate. The Trustee
shall make the selection from Securities of the Series outstanding not previously called for redemption. The Trustee may select for redemption portions of the principal of Securities of the Series that have denominations larger than $1,000.
Securities of the Series and portions of them it selects shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to Securities of any Series issuable in other denominations pursuant to Section 2.02(j), the minimum principal
denomination for each Series and integral multiples thereof. Provisions of this Indenture that apply to Securities of a Series called for redemption also apply to portions of Securities of that Series called for redemption. 
 Section 3.03 Notice of Redemption. 
 (a) Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, at least 30 days but not more than 60 days before a redemption date, the Company shall
mail a notice of redemption by first-class mail to each Holder whose Securities are to be redeemed and, if any Bearer Securities are outstanding, publish on one occasion a notice in an Authorized Newspaper. The notice shall identify the Securities
of the Series to be redeemed and shall state: 
 (i) the redemption date; 
 (ii) the redemption price; 
 (iii) the
name and address of the Paying Agent; 
 (iv) that Securities of the Series called for redemption must be surrendered to the Paying Agent to
collect the redemption price; 
 (v) that interest on Securities of the Series called for redemption ceases to accrue on and after the
redemption date; 
  

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 (vi) the CUSIP number, if any; and 
 (vii) any other information as may be required by the terms of the particular Series or the Securities of a Series being redeemed. 
 At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at its expense. 
 Section 3.04 Effect of Notice of Redemption. Once notice of redemption is mailed or published as provided in Section 3.03, Securities of
a Series called for redemption become due and payable on the redemption date and at the redemption price. A notice of redemption may not be conditional. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price plus
accrued interest to the redemption date; provided that installments of interest whose Stated Maturity is on or prior to the redemption date shall be payable to the Holders of such Securities (or one or more predecessor Securities) registered at the
close of business on the relevant record date therefor according to their terms and the terms of this Indenture. 
 Section 3.05
Deposit of Redemption Price. On or before 10:00 a.m., New York City time, on the redemption date, the Company shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to
be redeemed on that date. 
 Section 3.06 Securities Redeemed in Part. Upon surrender of a Security that is redeemed in
part, the Trustee shall authenticate for the Holder a new Security of the same Series and the same maturity equal in principal amount to the unredeemed portion of the Security surrendered. 
 ARTICLE IV 
 COVENANTS

 Section 4.01 Payment of Principal and Interest. The Company covenants and agrees for the benefit of the Holders of each
Series of Securities that it will duly and punctually pay the principal of and interest, if any, on the Securities of that Series in accordance with the terms of such Securities and this Indenture. 
 Section 4.02 SEC Reports. The Company shall, so long as any of the Securities are outstanding, electronically file with the Commission the
annual, quarterly and other periodic reports that the Company is required to file (or would be otherwise required to file) with the Commission pursuant to Sections 13 and 15(d) of the Exchange Act. The Company also shall comply with the other
provisions of TIA Section 314(a). Delivery of any reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained
therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on an Officers’ Certificate). 
  

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 Section 4.03 Compliance Certificate. The Company shall, so long as any of the Securities are
outstanding, deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officers’ Certificate stating whether or not to the knowledge of the signers thereof the Company is in default in the performance and
observance of any of the terms, provisions and conditions hereof (without regard to any period of grace or requirement of notice provided hereunder), and if a Default or Event of Default shall have occurred, specifying all such Defaults or Events of
Default and the nature and status thereof of which they may have knowledge. The Company shall, so long as any of the Securities are outstanding, deliver to the Trustee, within thirty (30) days after becoming aware of any Default or Event of
Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 
 Section 4.04 Stay, Extension and Usury Laws. The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead or in any manner whatsoever claim or take the
benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture or the Securities and the Company (to the extent it may lawfully
do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort to any such law, 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 has been enacted. 
 ARTICLE V 
 SUCCESSORS 
 Section 5.01 When
Company May Merge, Etc. The Company shall not consolidate with or merge with or into, or convey, transfer or lease all or substantially all of its properties and assets to, any person (a “successor person”) unless: 
 (a) the Company is the surviving corporation or the successor person (if other than the Company) is organized and validly existing under the laws of any
U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the Securities and under this Indenture; and 
 (b)
immediately after giving effect to the transaction, no Default or Event of Default shall have occurred and be continuing. 
 The Company
shall deliver to the Trustee prior to the consummation of the proposed transaction an Officers’ Certificate to the foregoing effect and an Opinion of Counsel stating that the proposed transaction and any supplemental indenture comply with this
Indenture. 
 Section 5.02 Successor Corporation Substituted. Upon any consolidation or merger, or any sale, lease, conveyance or
other disposition of all or substantially all of the assets of the Company in accordance with Section 5.01, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, lease,
conveyance or other disposition is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if 

  

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such successor person has been named as the Company herein; provided, however, that the predecessor Company in the case of a sale, conveyance or other
disposition (other than a lease) shall be released from all obligations and covenants under this Indenture and the Securities. 
 ARTICLE
VI 
 DEFAULTS AND REMEDIES 
 Section 6.01 Events of Default. 
 “Event of Default,” wherever used herein with respect to Securities
of any Series, means any one of the following events, unless in the establishing Board Resolution, supplemental indenture or Officers’ Certificate, it is provided that such Series shall not have the benefit of said Event of Default: 

(a) default in the payment of any interest on any Security of that Series when it becomes due and payable, and continuance of such default for a period
of 30 days (unless the entire amount of such payment is deposited by the Company with the Trustee or with a Paying Agent prior to the expiration of such period of 30 days); or 
 (b) default in the payment of principal of any Security of that Series at its Maturity; or 
 (c) default in the performance or breach of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty for which the
consequences of nonperformance or breach are addressed elsewhere in this Section 6.01 and other than a covenant or warranty that has been included in this Indenture solely for the benefit of Series of Securities other than that Series), which
default continues uncured for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of not less than a majority in principal amount of the
outstanding Securities of that Series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 
 (d) the Company pursuant to or within the meaning of any Bankruptcy Law: 
 (i) commences a voluntary case or proceeding; 
 (ii) consents to the entry of an order for relief against
it in an involuntary case, 
 (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property,

 (iv) makes a general assignment for the benefit of its creditors, or 
 (v) makes an admission by writing that it is generally unable to pay its debts as the same become due; or 
  

 17 

 (e) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 (i) is for relief against the Company in an involuntary case, 
 (ii) appoints a Custodian of the Company or for all or substantially all of its property, or 
 (iii) orders the liquidation of the Company, and the order or decree remains unstayed and in effect for 90 days; or 
 (f) any other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a supplemental indenture
hereto or an Officers’ Certificate, in accordance with Section 2.02(n). 
 The term “Bankruptcy Law” means Title
11 of the U.S. Code or any similar federal or state law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 
 Section 6.02 Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any Series at the time
outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.1(d) or (e)), then in every such case the Trustee or the Holders of not less than a majority in principal amount of the outstanding Securities of that
Series may declare the principal amount (or, if any Securities of that Series are Discount Securities, such portion of the principal amount as may be specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of
the Securities of that Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) and accrued and unpaid
interest, if any, shall become immediately due and payable. If an Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding
Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. At any time after such a declaration of acceleration with respect to any Series has been made and
before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the outstanding Securities of that Series, by written notice to the
Company and the Trustee, may rescind and annul such declaration and its consequences if all Events of Default with respect to Securities of that Series, other than the non-payment of the principal and interest, if any, of Securities of that Series
which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.13. No such rescission shall affect any subsequent Default or impair any right consequent thereon. 
 Section 6.03 Collection of Indebtedness and Suits for Enforcement by Trustee. 
 The Company covenants that if: 
 (a) default
is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or 
  

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 (b) default is made in the payment of principal of any Security at the Maturity thereof, 
 then the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities
for principal and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any overdue interest at the rate or rates prescribed therefor in such Securities and, in addition
thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a
judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon such Securities and collect the moneys adjudged or
deemed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. 
 If an Event of Default with respect to any Securities of any Series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such Series by such
appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted
herein, or to enforce any other proper remedy. 
 Section 6.04 Trustee May File Proofs of Claim. In case of the pendency of any
receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other
obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on
the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, (a) to file and prove a claim for the whole amount of principal and interest owing and unpaid in respect
of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel) and of the Holders allowed in such judicial proceeding, and (b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same, and any custodian, receiver, assignee,
trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments
directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07. 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 Securities or the rights of any Holder
thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
  

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 Section 6.05 Trustee May Enforce Claims Without Possession of Securities. All rights of
action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted
by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered. 
 Section 6.06 Application of Money Collected. 
 Any money collected by the Trustee pursuant to this Article shall be
applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or interest, upon presentation of the Securities and the notation thereon of the payment if only
partially paid and upon surrender thereof if fully paid: 
 First: To the payment of all amounts due the Trustee under Section 7.07; and

 Second: To the payment of the amounts then due and unpaid for principal of and interest on the Securities in respect of which or for the
benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and interest, respectively; and 
 Third: To the Company. 
 Section 6.07 Limitation on Suits. No Holder of any Security of any Series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee,
or for any other remedy hereunder, unless: 
 (a) such Holder has previously given written notice to the Trustee of a continuing Event of
Default with respect to the Securities of that Series; 
 (b) the Holders of at least a majority in principal amount of the outstanding
Securities of that Series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (c) such Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with
such request; 
 (d) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any
such proceeding; and 
 (e) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by
the Holders of a majority in principal amount of the outstanding Securities of that Series; 
  

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 it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by
virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right
under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all such Holders. 
 Section 6.08
Unconditional Right of Holders to Receive Principal and Interest. Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of
and interest, if any, on such Security on the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the redemption date) and to institute suit for the enforcement of any such payment, and such rights
shall not be impaired without the consent of such Holder. 
 Section 6.09 Restoration of Rights and Remedies. If the Trustee or
any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every
such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the
Holders shall continue as though no such proceeding had been instituted. 
 Section 6.10 Rights and Remedies Cumulative. Except
as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.08, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be
exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.
The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 Section 6.11 Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or
remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders
may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 6.12 Control by Holders. The Holders of a majority in principal amount of the outstanding Securities of any Series shall have the right to direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such Series, provided that: 
 (a) such direction shall not be in conflict with any rule of law or with this Indenture, 
  

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 (b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with
such direction, and 
 (c) subject to the provisions of Section 6.01, the Trustee shall have the right to decline to follow any such
direction if the Trustee in good faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability. 
 Section 6.13 Waiver of Past Defaults. The Holders of not less than a majority in principal amount of the outstanding Securities of any Series
may on behalf of the Holders of all the Securities of such Series waive any past Default hereunder with respect to such Series and its consequences, except a Default (i) in the payment of the principal of or interest on any Security of such
Series (provided, however, that the Holders of a majority in principal amount of the outstanding Securities of any Series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration)
or (ii) in respect of a covenant or provision hereof which cannot be modified or amended without the consent of the Holder of each outstanding Security of such Series affected. Upon any such waiver, such Default shall cease to exist, and any
Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 
 Section 6.14 Undertaking for Costs. All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be
deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the
filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having
due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by
any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on
any Security on or after the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the redemption date). 
 ARTICLE VII 
 TRUSTEE 
 Section 7.01 Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use
under the circumstances in the conduct of such person’s own affairs. 
 (b) Except during the continuance of an Event of Default:

 (i) The Trustee need perform only those duties that are specifically set forth in this Indenture and no others. 
  

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 (ii) In the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon Officers’ Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements of this Indenture; however, in the case of any such Officers’
Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such Officers’ Certificates and Opinions of Counsel to determine whether or not they conform
to the requirements of this Indenture. 
 (c) 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: 
 (i) This paragraph does not limit the effect of paragraph (b) of this
Section. 
 (ii) 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. 
 (iii) The Trustee shall not be liable with respect to any action
taken, suffered or omitted to be taken by it with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in principal amount of the outstanding Securities of such Series relating to the time,
method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such Series. 
 (d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraph (a), (b) and (c) of this Section.

 (e) The Trustee may refuse to perform any duty or exercise any right or power at the request or direction of any Holder unless it receives
indemnity satisfactory to it against any loss, liability or expense. 
 (f) The Trustee shall not be liable for interest on any money
received by it except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 (g) No provision of this Indenture shall require the Trustee to risk its own funds or otherwise incur any financial liability in the performance of any
of its duties, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk is not reasonably assured to it. 
 (h) The Paying Agent, the Registrar and any Service Agent or authenticating agent shall be entitled to the protections, immunities and standard of care
as are set forth in paragraphs (a), (b) and (c) of this Section with respect to the Trustee. 
  

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 Section 7.02 Rights of Trustee. 
 (a) The Trustee may rely on and shall be protected in acting or refraining from acting upon any document believed by it to be genuine and to have been
signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the
Trustee acts or refrains from acting, it may require an Officers’ Certificate. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate. 
 (c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. No Depository
shall be deemed an agent of the Trustee, and the Trustee shall not be responsible for any act or omission by any Depository. 
 (d) The
Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers, provided that the Trustee’s conduct does not constitute negligence or bad faith. 

(e) The Trustee may consult with counsel, and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken, suffered or omitted by it hereunder without negligence and in good faith and in reliance thereon. 
 (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 or direction of any of the Holders of Securities unless such Holders shall have offered to the Trustee
reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. 
 (g) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond,
debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit. 
 (h) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge
thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities generally or the Securities of a particular Series and
this Indenture. 
 (i) The permissive rights of the Trustee enumerated herein shall not be construed as duties. 
 Section 7.03 Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Securities
and may otherwise deal with the 

  

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Company or an Affiliate of the Company with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee is
also subject to Sections 7.10 and 7.11. 
 Section 7.04 Trustee’s Disclaimer. The Trustee makes no representation as to the
validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities, and it shall not be responsible for any statement in the Securities other than its
authentication. 
 Section 7.05 Notice of Defaults. If a Default or Event of Default occurs and is continuing with respect
to the Securities of any Series and if it is known to a Responsible Officer of the Trustee, the Trustee shall mail to each Holder of the Securities of that Series and, if any Bearer Securities are outstanding, publish on one occasion in an
Authorized Newspaper, notice of a Default or Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Trustee has knowledge of such Default or Event of Default. Except in the case of a Default or Event of
Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith determines that withholding
the notice is in the interests of Holders of that Series. 
 Section 7.06 Reports by Trustee to Holders. Within 60 days after
May 15 in each year, the Trustee shall transmit by mail to all Holders, as their names and addresses appear on the register kept by the Registrar and, if any Bearer Securities are outstanding, publish in an Authorized Newspaper, a brief report
dated as of such May 15, in accordance with, and to the extent required under, TIA Section 313. A copy of each report at the time of its mailing to Holders of any Series shall be filed with the SEC and each stock exchange on which the
Securities of that Series are listed. The Company shall promptly notify the Trustee when Securities of any Series are listed on any stock exchange. 
 Section 7.07 Compensation and Indemnity. The Company shall pay to the Trustee from time to time compensation for its services as the Company and the Trustee shall from time to time agree upon in writing. The Trustee’s
compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred by it. Such expenses shall include the reasonable
compensation and expenses of the Trustee’s agents and counsel. The Company shall indemnify each of the Trustee and any predecessor Trustee (including the cost of defending itself) against any loss, liability or expense, including taxes (other
than taxes based upon, measured by or determined by the income of the Trustee) incurred by it except as set forth in this Section 7.07 in the performance of its duties under this Indenture as Trustee or Agent. The Trustee shall notify the
Company promptly of any claim for which it may seek indemnity. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one separate counsel and the Company shall pay the reasonable fees and expenses of
such counsel. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. This indemnification shall apply to officers, directors, employees, shareholders and agents of the Trustee. The
Company need not reimburse any expense or indemnify against any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through the negligence or bad faith of 

  

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any such persons. To secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities of any Series on
all money or property held or collected by the Trustee, except that held in trust to pay principal of and interest on particular Securities of that Series. When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.01(d) or (e) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. The provisions of this Section shall survive the resignation or removal of
the Trustee and the termination of this Indenture. 
 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. The Trustee may resign with respect to the Securities of one or more Series by so
notifying the Company at least 30 days prior to the date of the proposed resignation. The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee
and the Company. The Company may remove the Trustee with respect to Securities of one or more Series if: 
 (a) the Trustee fails to comply
with Section 7.10; 
 (b) the Trustee is adjudged bankrupt or insolvent or an order for relief is entered with respect to the Trustee
under any Bankruptcy Law; 
 (c) a Custodian or public officer takes charge of the Trustee or its property; or 
 (d) the Trustee becomes incapable of acting. 
 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a successor Trustee. 
 If a successor Trustee with respect to the Securities of any one or more Series does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the
Holders of at least a majority in principal amount of the Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately after that, the
retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for 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 with respect to each Series of Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a notice of its succession to each Holder of each such
Series and, if any Bearer Securities are outstanding, publish such notice on one occasion in an Authorized Newspaper. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under
Section 7.07 hereof shall continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred by it prior to the date of such replacement. 
  

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 Section 7.09 Successor Trustee by Merger, etc. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee. 
 Section 7.10 Eligibility; Disqualification. This Indenture shall always have a Trustee who satisfies the requirements of TIA
Section 310(a)(1), (2) and (5). The Trustee shall comply with TIA Section 310(b). 
 Section 7.11 Preferential
Collection of Claims Against Company. The Trustee is subject to TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA
Section 311(a) to the extent indicated. 
 ARTICLE VIII 
 SATISFACTION AND DISCHARGE; DEFEASANCE 
 Section 8.01 Satisfaction and
Discharge of Indenture. 
 This Indenture shall upon Company Order cease to be of further effect (except as hereinafter provided in this
Section 8.01), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 
 (a) any of the following shall have occurred: 
 (i) no Securities have been issued hereunder; 
 (ii) all Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and that have been replaced
or paid) have been delivered to the Trustee for cancellation; or 
 (iii) all such Securities not theretofore delivered to the Trustee for
cancellation (1) have become due and payable, or (2) will become due and payable at their Stated Maturity within one year, or (3) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the
giving of notice of redemption by the Trustee in the name, and at the expense, of the Company; 
 and the Company has irrevocably deposited or caused to be
deposited with the Trustee as trust funds in trust an amount sufficient for the purpose of paying and discharging the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and interest to the
date of such deposit (in the case of Securities which have become due and payable on or prior to the date of such deposit) or to the Stated Maturity or redemption date, as the case may be; 
 (b) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 
  

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 (c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 7.07 and, if money shall have been deposited with the Trustee pursuant to clause (a) of this Section,
the provisions of Sections 2.04, 2.05, 2.07, 2.08, 8.01, 8.02 and 8.05 shall survive. 
 Section 8.02 Application of
Trust Funds; Indemnification. 
 (a) Subject to the provisions of Section 8.05, all money deposited with the Trustee pursuant to
Section 8.01, all money and U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.03 or 8.04 and all money received by the Trustee in respect of U.S. Government Obligations or
Foreign Government Obligations deposited with the Trustee pursuant to Section 8.03 or 8.04, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or
through any Paying Agent (other than the Company acting as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of the principal and interest for whose payment such money has been deposited with or received by the
Trustee or analogous payments as contemplated by Sections 8.03 or 8.04. 
 (b) The Company shall pay and shall indemnify the Trustee against
any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Foreign Government Obligations deposited pursuant to Sections 8.03 or 8.04 or the interest and principal received in respect of such obligations other than
any payable by or on behalf of Holders. 
 (c) The Trustee shall deliver or pay to the Company from time to time upon Company Request any
U.S. Government Obligations or Foreign Government Obligations or money held by it as provided in Sections 8.03 or 8.04 which, in the opinion of a nationally recognized firm of independent certified public accountants expressed in a written
certification thereof delivered to the Trustee, are then in excess of the amount thereof which then would have been required to be deposited for the purpose for which such U.S. Government Obligations or Foreign Government Obligations or money were
deposited or received. This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations or Foreign Government Obligations held under this Indenture. 
 Section 8.03 Legal Defeasance of Securities of any Series. Unless this Section 8.03 is otherwise specified, pursuant to
Section 2.02(s), to be inapplicable to Securities of any Series, the Company shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the deposit
referred to in subparagraph (d) hereof, and the provisions of this Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the 

  

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Company, shall, at Company Request, execute proper instruments acknowledging the same), except as to: 
 (a) the rights of Holders of Securities of such Series to receive, from the trust funds described in subparagraph (d) hereof, (i) payment of the
principal of and each installment of principal of and interest on the outstanding Securities of such Series on the Stated Maturity of such principal or installment of principal or interest, and (ii) the benefit of any mandatory sinking fund
payments applicable to the Securities of such Series on the day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such Series; and 
 (b) the provisions of Sections 2.04, 2.05, 2.07, 2.08, 8.02, 8.03 and 8.05; and 
 (c) the rights, powers, trust and immunities of the Trustee hereunder; 
 provided that, the following conditions shall have been satisfied: 
 (d) with reference to this
Section 8.03, the Company shall have deposited or caused to be irrevocably deposited (except as provided in Section 8.02(c)) with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as
security for and dedicated solely to the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities
of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and
without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of all the Securities of such
Series on the dates such installments of interest or principal and such sinking fund payments are due; 
 (e) such deposit will not result in
a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 
 (f) no Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date;

 (g) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that
(i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this Indenture, there has been a change in the applicable Federal income tax law, in either
case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit, defeasance and
discharge and will be subject to Federal income tax on the same amounts and in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred; 
  

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 (h) the Company shall have delivered to the Trustee an Officers’ Certificate stating that the
deposit was not made by the Company with the intent of preferring the Holders of the Securities of such Series over any other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding any other creditors of the
Company; 
 (i) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
all conditions precedent provided for relating to the defeasance contemplated by this Section have been complied with; and 
 (j) such
defeasance shall not result in the trust arising from such deposit constituting an investment company within the meaning of the Investment Company Act of 1940, as amended, unless such trust shall be registered under such Act or exempt from
registration thereunder. 
 Section 8.04 Covenant Defeasance. Unless this Section 8.04 is otherwise specified, pursuant to
Section 2.02(s), to be inapplicable to Securities of any Series, on and after the 91st day after the date of the deposit referred to in subparagraph (a) hereof, the Company may omit to comply with respect to the Securities of any Series
with any term, provision or condition set forth under Sections 4.02, 4.03, and 5.01 as well as any additional covenants specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officers’ Certificate
delivered pursuant to Section 2.02 (and the failure to comply with any such covenants shall not constitute a Default or Event of Default with respect to such Series under Section 6.01) and the occurrence of any event specified in a
supplemental indenture for such Series of Securities or a Board Resolution or an Officers’ Certificate delivered pursuant to Section 2.02 and designated as an Event of Default shall not constitute a Default or Event of Default hereunder,
with respect to the Securities of such Series, provided that the following conditions shall have been satisfied: 
 (a) with reference to this
Section 8.04, the Company has deposited or caused to be irrevocably deposited (except as provided in Section 8.02(c)) with the Trustee as trust funds in trust for the purpose of making the following payments specifically pledged as
security for, and dedicated solely to, the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities
of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and
without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent
certified public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of the Securities
of such Series on the dates such installments of interest or principal and such sinking fund payments are due; 
  

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 (b) such deposit will not result in a breach or violation of, or constitute a default under, this
Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 
 (c) no Default or Event of Default
with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date; 
 (d) the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that Holders of the Securities of such Series will not recognize
income, gain or loss for federal income tax purposes as a result of such deposit and covenant defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such
deposit and covenant defeasance had not occurred; 
 (e) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the covenant defeasance contemplated by this Section have been complied with; and 
 (f) Such defeasance shall not result in the trust arising from such deposit constituting an investment company within the meaning of the Investment
Company Act of 1940, as amended, unless such trust shall be registered under such Act or exempt from registration thereunder. 
 Section 8.05 Repayment to Company. The Trustee and the Paying Agent shall pay to the Company upon written request any money held by them for the payment of principal and interest that remains unclaimed for two years, and after
such time, Holders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person. 
 Section 8.06 Reinstatement. If the Trustee or the Paying Agent is unable to apply any money deposited with respect to Securities of any series in accordance with Section 8.01 by reason of any legal
proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the obligations of the Company under this Indenture with respect to the Securities of such
series and under the Securities of such series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.01 until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with
Section 8.01; provided, however, that if the Company has made any payment of principal of, premium (if any) or interest on any Additional Amounts with respect to any Securities because of the reinstatement of its obligations, the Company shall
be subrogated to the rights of the Holders of such Securities to receive such payment from the money held by the Trustee or the Paying Agent. 
  

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 ARTICLE IX 
 AMENDMENTS AND WAIVERS 
 Section 9.01 Without Consent of Holders. The Company and the
Trustee may amend or supplement this Indenture or the Securities of one or more Series without the consent of any Holder: 
 (a) to evidence
the succession of another person to the Company under this Indenture and the Securities and the assumption by any such successor person of the obligations of the Company hereunder and under the Securities; 
 (b) to add or remove covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the
benefit of less than all series of Securities, stating that such covenants are expressly being included for the benefit of such series) or to surrender any right or power herein conferred upon the Company provided such action does not adversely
affect the interests of the Company; 
 (c) to add any additional Events of Default; 
 (d) to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of Securities
in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in uncertificated form; 
 (e) to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of Securities, provided that any such
addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the
Holder of any such Security with respect to such provision or (B) shall become effective only when there is no such Security Outstanding; 
 (f) to establish the forms or terms of the Securities of any series issued pursuant to the terms hereof; 
 (g) to cure any
ambiguity or correct any inconsistency in this Indenture; 
 (h) to evidence and provide for the acceptance of appointment hereunder by a
successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one
Trustee; 
 (i) to qualify this Indenture under the Trust Indenture Act; 
 (j) to provide for uncertificated securities in addition to certificated securities; 
 (k) to supplement any provisions of this Indenture necessary to permit or facilitate the defeasance and discharge of any series of Securities, provided
that such action does not adversely affect the interests of the Holders of Securities of such series or any other series; and 
  

 32 

 (l) to comply with the rules or regulations of any securities exchange or automated quotation system on
which any of the Securities may be listed or traded. 
 Section 9.02 With Consent of Holders. The Company and the Trustee may
enter into a supplemental indenture with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities of each Series affected by such supplemental indenture (including consents obtained in connection
with a tender offer or exchange offer for the Securities of such Series), for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying
in any manner the rights of the Holders of each such Series. Except as provided in Section 6.13, the Holders of at least a majority in principal amount of the outstanding Securities of any Series by notice to the Trustee (including consents
obtained in connection with a tender offer or exchange offer for the Securities of such Series) may waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series. It shall not be necessary for the
consent of the Holders of Securities under this Section 9.02 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof. After a supplemental
indenture or waiver under this section becomes effective, the Company shall mail to the Holders of Securities affected thereby and, if any Bearer Securities affected thereby are outstanding, publish on one occasion in an Authorized Newspaper, a
notice briefly describing the supplemental indenture or waiver. Any failure by the Company to mail or publish such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or
waiver. 
 Section 9.03 Limitations. Without the consent of each Holder affected, an amendment or waiver may not: 
 (a) reduce the amount of Securities whose Holders must consent to an amendment, supplement or waiver; 
 (b) reduce the rate of or extend the time for payment of interest (including default interest) on any Security; 
 (c) reduce the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any
sinking fund or analogous obligation; 
 (d) reduce the principal amount of Discount Securities payable upon acceleration of the maturity
thereof; 
 (e) waive a Default or Event of Default in the payment of the principal of or interest, if any, on any Security (except a
rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and a waiver of the payment default that resulted from such acceleration); 

 

 33 

 (f) make the principal of or interest, if any, on any Security payable in any currency other than that
stated in the Security; 
 (g) make any change in Sections 6.08, 6.13, or 9.03; or 
 (h) waive a redemption payment with respect to any Security. 
 Section 9.04 Compliance with Trust Indenture Act. Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto that complies with the TIA
as then in effect. 
 Section 9.05 Revocation and Effect of Consents. Until an amendment is set forth in a supplemental indenture
or a waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security,
even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the notice of revocation before the date of the
supplemental indenture or the date the waiver becomes effective. Any amendment or waiver once effective shall bind every Holder of each Series affected by such amendment or waiver unless it is of the type described in any of clauses (a) through
(h) of Section 9.03. In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting
Holder’s Security. 
 Section 9.06 Notation on or Exchange of Securities. The Trustee may place an appropriate notation
about an amendment or waiver on any Security of any Series thereafter authenticated. The Company in exchange for Securities of that Series may issue and the Trustee shall authenticate upon request new Securities of that Series that reflect the
amendment or waiver. 
 Section 9.07 Trustee Protected. In executing, or accepting the additional trusts created by, any
supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, in addition to the documents required by Section 10.04, and (subject to
Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee shall sign all supplemental indentures, except
that the Trustee need not sign any supplemental indenture that adversely affects its rights. 
 ARTICLE X 
 MISCELLANEOUS 
 Section 10.01
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 TIA, such required or deemed provision shall control.

  

 34 

 Section 10.02 Notices. 
 (a) Any notice or communication by the Company or the Trustee to the other, or by a Holder to the Company or the Trustee, is duly given if in writing and
delivered in person or mailed by first-class mail or sent by telecopier transmission addressed as follows: 
 if to the Company: 

Auxilium Pharmaceuticals, Inc. 
 40 Valley
Stream Parkway 
 Malvern, Pennsylvania 19355 
 Attention: Corporate Secretary 
 Telephone: 484.321.5900 
 Facsimile: 
 if to the Trustee: 
 [            ] 
 (b) The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. Any notice or communication to a Holder shall be mailed by first-class
mail to his address shown on the register kept by the Registrar and, if any Bearer Securities are outstanding, published in an Authorized Newspaper. Failure to mail a notice or communication to a Holder of any Series or any defect in it shall not
affect its sufficiency with respect to other Holders of that or any other Series. If a notice or communication is mailed or published in the manner provided above, within the time prescribed, it is duly given, whether or not the Holder receives it.
If the Company mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time. 
 (c) Any
notice or demand that by any provision of this Indenture is required or permitted to be given or served by the Company may, at the Company’s written request received by the Trustee not fewer than five (5) Business Days prior (or such
shorter period of time as may be acceptable to the Trustee) to the date on which such notice must be given or served, be given or served by the Trustee in the name of and at the expense of the Company. 
 Section 10.03 Communication by Holders with Other Holders. Holders of any Series may communicate pursuant to TIA Section 312(b) with
other Holders of that Series or any other Series with respect to their rights under this Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA
Section 312(c). 
 Section 10.04 Certificate and Opinion as to Conditions Precedent. Upon any request or application by the
Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee: 
 (a) an Officers’ Certificate
stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 
  

 35 

 (b) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent
have been complied with. 
 Section 10.05 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 a certificate provided pursuant to TIA Section 314(a)(4)) shall comply with the provisions of TIA Section 314(e) and shall include: 
 (a) a statement that the person making such certificate or opinion has read such covenant or condition; 
 (b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate
or opinion are based; 
 (c) a statement that, in the opinion of such person, he has made such examination or investigation as is necessary
to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (d) a statement
as to whether or not, in the opinion of such person, such condition or covenant has been complied with. 
 Section 10.06 Rules by
Trustee and Agents. The Trustee may make reasonable rules for action by or a meeting of Holders of one or more Series. Any Agent may make reasonable rules and set reasonable requirements for its functions. 
 Section 10.07 Legal Holidays. Unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture hereto for
a particular Series, a “Legal Holiday” is any day that is not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no
interest shall accrue for the intervening period. 
 Section 10.08 No Recourse Against Others. A director, officer, employee or
stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder by
accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. 
 Section 10.09 Counterparts. This Indenture 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. 
 Section 10.10 Governing Laws. This Indenture and the Securities will be
governed by, and construed in accordance with, the internal laws of the State of New York, without regard to conflict of law principles that would result in the application of any law other than the laws of the State of New York. 
  

 36 

 Section 10.11 No Adverse Interpretation of Other Agreements. This Indenture may not be used
to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 10.12 Successors. All agreements of the Company in this Indenture and the Securities shall bind its successor. All agreements of the
Trustee in this Indenture shall bind its successor. 
 Section 10.13 Severability. In case any provision in this Indenture or in
the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 10.14 Table of Contents, Headings, Etc. The Table of Contents, Cross-Reference Table, and headings of the Articles and Sections of
this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 
 Section 10.15 Securities in a Foreign Currency. Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate delivered pursuant to Section 2.02 of this Indenture with respect to a particular Series of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage in
aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time outstanding and, at such time, there are outstanding Securities of any Series which are denominated in a coin or currency other than
Dollars, then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such action shall be that amount of Dollars that could be obtained for such amount at the Market Exchange Rate at such
time. For purposes of this Section 10.15, “Market Exchange Rate” shall mean the noon Dollar buying rate in New York City for cable transfers of that currency as published by the Federal Reserve Bank of New York. If such Market
Exchange Rate is not available for any reason with respect to such currency, the Trustee shall use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve Bank of New York as of the most recent available
date, or quotations from one or more major banks in The City of New York or in the country of issue of the currency in question or such other quotations as the Trustee, upon consultation with the Company, shall deem appropriate. The provisions of
this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a Series denominated in currency other than Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this
Indenture. All decisions and determinations of the Trustee regarding the Market Exchange Rate or any alternative determination provided for in the preceding paragraph shall be in its sole discretion and shall, in the absence of manifest error, to
the extent permitted by law, be conclusive for all purposes and irrevocably binding upon the Company and all Holders. 
 Section 10.16 Judgment Currency. The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the
sum due in respect of the principal of or interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which a 

  

 37 

 
judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking
procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a New York Banking Day, then the rate of exchange used
shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final unappealable
judgment is entered and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance
with subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in
respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of
the Required Currency so expressed to be payable, and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a
Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close. 
 ARTICLE XI 
 SINKING FUNDS 
 Section 11.01 Applicability of Article. The provisions of this Article shall be applicable to any sinking fund for the retirement of the
Securities of a Series, except as otherwise permitted or required by any form of Security of such Series issued pursuant to this Indenture. The minimum amount of any sinking fund payment provided for by the terms of the Securities of any Series is
herein referred to as a “mandatory sinking fund payment” and any other amount provided for by the terms of Securities of such Series is herein referred to as an “optional sinking fund payment.” If provided for by
the terms of Securities of any Series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 11.02. Each sinking fund payment shall be applied to the redemption of Securities of any Series as provided
for by the terms of the Securities of such Series. 
 Section 11.02 Satisfaction of Sinking Fund Payments with Securities. The
Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of any Series to be made pursuant to the terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking
fund payment is applicable (other than any of such Securities previously called for mandatory sinking fund redemption) and (2) apply as credit Securities of such Series to which such sinking fund payment is applicable and which have been
repurchased by the Company or redeemed either at the election of the Company pursuant to the terms of such Series of Securities (except pursuant to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or
other optional redemptions pursuant to the terms of such Securities, provided that such Securities have not been previously so credited. Such Securities shall be received by the Trustee, together with an Officers’ Certificate with respect
thereto, not later than 15 days prior to the date on which the Trustee begins the process of selecting Securities for redemption, and shall be credited for such purpose 

  

 38 

 
by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment
shall be reduced accordingly. If as a result of the delivery or credit of Securities in lieu of cash payments pursuant to this Section 11.02, the principal amount of Securities of such Series to be redeemed in order to exhaust the aforesaid
cash payment shall be less than $100,000, the Trustee need not call Securities of such Series for redemption, except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent and
applied to the next succeeding sinking fund payment, provided, however, that the Trustee or such Paying Agent shall from time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being held by the Trustee
or such Paying Agent upon delivery by the Company to the Trustee of Securities of that Series purchased by the Company having an unpaid principal amount equal to the cash payment required to be released to the Company. 
 Section 11.03 Redemption of Securities for Sinking Fund. Not less than 45 days (unless otherwise indicated in the Board Resolution,
supplemental indenture or Officers’ Certificate in respect of a particular Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Company will deliver to the Trustee an Officers’ Certificate
specifying the amount of the next ensuing mandatory sinking fund payment for that Series pursuant to the terms of that Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be
satisfied by delivering and crediting of Securities of that Series pursuant to Section 11.02, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the Company shall thereupon be obligated
to pay the amount therein specified. Not less than 30 days (unless otherwise indicated in the Board Resolution, Officers’ Certificate or supplemental indenture in respect of a particular Series of Securities) before each such sinking fund
payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the redemption thereof to be given in the name of and at the expense of the
Company in the manner provided in Section 3.03. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.04, 3.05 and 3.06. 
  

 39 

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

			
	AUXILIUM PHARMACEUTICALS, INC.
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 [                                      
  ],
 as Trustee,st

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

 40Intercreditor Agreement

 Exhibit 10.6 
 INTERCREDITOR AGREEMENT 
 This INTERCREDITOR AGREEMENT (this
“Agreement”), is dated as of August 25, 2005, and entered into by and among CitiSteel USA, Inc. (the “Company”), H.I.G. Steelco Holdings, Inc. (“Holdings”), the subsidiaries of the Company
listed on the signature pages hereof (the “Company Subsidiaries”), U.S. Bank National Association, in its capacity as agent, including its successors and assigns from time to time (the “Revolving Credit Agent”)
under the Revolving Credit Agreement, and The Bank of New York, in its capacity as trustee under the Indenture, including its successors and assigns from time to time (in such capacity, the “Trustee”) and as collateral agent under
the Indenture, including its successors and assigns from time to time (in such capacity, the “Collateral Agent”) under the Indenture. Capitalized terms used in this Agreement have the meanings assigned to them in Section 1
below. 
 RECITALS 
 The
Company, the Revolving Credit Lenders, and the Revolving Credit Agent have entered into that certain Financing Agreement, dated as of August 25, 2005, providing for a revolving credit facility (as amended, restated, supplemented or otherwise
modified, from time to time, the “Initial Revolving Credit Agreement”) in favor of the Company; 
 The Company has issued,
or will issue, senior secured floating rate notes due 2010 (the “Initial Notes”) under an indenture dated as of August 25, 2005 (as amended, restated, supplemented or otherwise modified from time to time, the
“Indenture”) among the Company, each Guarantor (as defined in the Indenture), the Trustee and the Collateral Agent; 
 In
order to induce the Revolving Credit Agent and the Revolving Credit Lenders to consent to the Grantors incurring the Note Obligations and granting the Liens to the Collateral Agent and in order to induce the Trustee, the Collateral Agent and the
Noteholders to consent to the Grantors incurring the Revolving Credit Obligations and granting the Liens to Revolving Credit Agent, the Revolving Credit Agent, on behalf of the Revolving Credit Lenders, and the Trustee and the Collateral Agent, on
behalf of the Noteholders, have agreed to the relative priority of their respective Liens on the Collateral and certain other rights, priorities and interests as set forth in this Agreement. 
 AGREEMENT 
 In consideration of the foregoing, the mutual covenants and
obligations herein set forth and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 I. DEFINITIONS. 
 1.1 Defined Terms. As used in
this Agreement, the following terms shall have the following meanings: 

 “Access Period” means for each parcel of Mortgaged Premises, the period,
after the commencement of an Enforcement Period, which begins on the day that the Revolving Credit Agent provides the Collateral Agent with the notice of its election to request access pursuant to Section 3.3(b) below and ends on the earliest
of (i) the 120th day after the Revolving Credit Agent obtains the ability to take physical possession of,
remove, or otherwise control physical access to, or actually uses, the Collateral located on such Mortgaged Premises following Enforcement plus such number of days, if any, after the Revolving Credit Agent obtains such access to such Collateral that
it is stayed or otherwise prohibited by law or court order from exercising remedies with respect to Collateral located on such Mortgaged Premises, (ii) the date on which all or substantially all of the Revolving Credit Primary Collateral
located on such Mortgaged Premises is sold, collected or liquidated, (iii) the date on which the Discharge of Revolving Credit Obligations occurs, or (iv) the date on which the Revolving Credit Default or the Note Default that was the
subject of the Enforcement Notice relating to such Enforcement Period has been cured to the satisfaction of the Revolving Credit Agent or the Collateral Agent, as applicable, or waived in writing. 
 “Accounts” means all now present and future “accounts” and “payment intangibles” (in each case, as
defined in Article 9 of the UCC). 
 “Account Agreements” means any lockbox account agreement, pledged
account agreement, blocked account agreement, securities account control agreement, or any similar deposit or securities account agreements among the Collateral Agent and/or the Revolving Credit Agent, one or more Grantors and the relevant financial
institution depository or securities intermediary. 
 “Affiliate” means, with respect to a specified Person,
another Person that directly, or indirectly through one or more intermediaries, controls or is controlled by or is under common control with the Person specified. For purposes of this definition, a Person shall be deemed to
“control” or be “controlled by” a Person if such Person possesses, directly or indirectly, power to direct or cause the direction of the management or policies of such Person whether through ownership of equity
interests, by contract or otherwise. 
 “Agents” means the Revolving Credit Agent and the Collateral Agent.

 “Agreement” means this Intercreditor Agreement, as amended, restated, renewed, extended, supplemented or
otherwise modified from time to time. 
 “Bankruptcy Code” means Title 11 of the United States Code entitled
“Bankruptcy,” as now and hereafter in effect, or any successor statute. 
 “Bankruptcy Law” means
the Bankruptcy Code and any similar federal, state or foreign law for the relief of debtors. 
  

 -2- 

 “Business Day” means a day other than a Saturday, Sunday or other day on
which commercial banks in New York City or Cincinnati, Ohio are authorized or required by law to close. 
 “Chattel
Paper” means all present and future “chattel paper” (as defined in Article 9 of the UCC). 
 “Collateral” means any and all of the assets and property of any Grantor, whether real, personal or mixed, constituting either Revolving Credit Primary Collateral or Note Primary Collateral. 
 “Collateral Agent” has the meaning assigned to that term in the Preamble of this Agreement. 
 “Commodities Agreement” means any present or future futures contract, option contract or similar agreement or
arrangement, each of which is for the purpose of hedging the commodity risk associated with one or more Grantor’s operations. 
 “Company” has the meaning assigned to that term in the Preamble to this Agreement. 
 “Company Subsidiary” has the meaning assigned to that term in the Preamble to this Agreement. 
 “Copyright Licenses” means any and all present and future agreements providing for the granting of any right in or to Copyrights (whether such Grantor is licensee or licensor thereunder). 
 “Copyrights” means all present and future United States and foreign copyrights (including Community designs), including
but not limited to copyrights in software and databases, and all Mask Works (as defined under 17 U.S.C. 901 of the U.S. Copyright Act), whether registered or unregistered, and, with respect to any and all of the foregoing: (i) all registrations
and applications therefore, (ii) all rights corresponding thereto throughout the world, and (iii) all rights to sue for past, present and future infringements thereof. 
 “Currency Agreement” means any present or future foreign exchange contract, currency swap agreement, futures contract,
option contract, synthetic cap or other similar agreement or arrangement, each of which is for the purpose of hedging the foreign currency risk associated with one or more Grantor’s operations. 
 “Deposit Accounts” means all present and future “deposit accounts” (as defined in Article 9 of the UCC).

 “DIP Financing” has the meaning assigned to that term in Section 6.1. 
  

 -3- 

 “Discharge of Note Obligations” means, except to the extent otherwise
expressly provided in Section 5.5: 
 (a) payment in full in cash of the principal of and interest (including interest
accruing on or after the commencement of any Insolvency or Liquidation Proceeding, whether or not such interest would be allowed in such Insolvency or Liquidation Proceeding), on all Indebtedness outstanding under the Note Documents and constituting
Note Obligations (other than contingent obligations or indemnification obligations, in each case for which no claim has been asserted); and 
 (b) payment in full in cash of all other Note Obligations (other than contingent obligations or indemnification obligations, in each case for which no claim has been asserted) that are due and payable or otherwise
accrued and owing at or prior to the time such principal and interest are paid. 
 “Discharge of Revolving Credit
Obligations” means, except to the extent otherwise expressly provided in Section 5.5: 
 (a) payment in full in
cash of the principal of and interest (including interest accruing on or after the commencement of any Insolvency or Liquidation Proceeding, whether or not such interest would be allowed in such Insolvency or Liquidation Proceeding), on all
Indebtedness outstanding under the Revolving Credit Loan Documents and constituting Revolving Credit Obligations (other than contingent obligations or indemnification obligations, in each case for which no claim has been asserted); 
 (b) payment in full in cash of all other Revolving Credit Obligations (other than contingent obligations or indemnification obligations,
in each case for which no claim has been asserted) that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid; 
 (c) termination or expiration of all commitments, if any, to extend credit that would constitute Revolving Credit Obligations; and

 (d) termination or cash collateralization (in an amount and manner reasonably satisfactory to the Revolving Credit Agent,
but in no event greater than 105% of the aggregate undrawn face amount) of all letters of credit issued under the Revolving Credit Loan Documents and constituting Revolving Credit Obligations. 
 “Disposition” has the meaning assigned to that term in Section 5.1(b). 
 “Enforcement” means, collectively or individually for one or both of the Revolving Credit Agent and the Collateral Agent,
when a Revolving Credit Default or Note Default, as the case may be, has occurred and is continuing, to enforce or attempt to enforce any right to repossess, replevy, attach, garnish, levy upon, collect the proceeds of, foreclose 

  

 -4- 

 
or realize its Lien upon, sell, liquidate or otherwise dispose of, or otherwise restrict or interfere with the use of, or exercise any remedies with respect
to, any material amount of Collateral whether by judicial enforcement of any of the rights and remedies under the Revolving Credit Loan Documents, the Note Documents or under any applicable law, by self-help repossession, by set-off, by notification
to account obligors of any Grantor, or otherwise but in all cases excluding (i) the establishment of borrowing base reserves or collateral ineligibles, (ii) the changing of advance rates or advance sublimits, (iii) the imposition of a
default rate or late fee, and (iv) the collection and application of Accounts or other monies deposited from time to time in Deposit Accounts or Securities Accounts against the Revolving Credit Obligations pursuant to the Revolving Credit Loan
Documents; provided, however, the foregoing exclusion set forth in clause (ii) shall immediately cease to apply upon the earliest of (x) the Revolving Credit Agent’s delivery of written notice to the Company that such
exclusion no longer applies, (y) the lapse of ten (10) consecutive Business Days in which no “Revolving Loans” are made and no “Letters of Credit” are issued (in each case, as defined in the Revolving Credit Agreement)
during such time period a Revolving Credit Default has occurred and is continuing, and (z) the termination of the Revolving Credit Commitments pursuant to the Revolving Credit Agreement. 
 “Enforcement Notice” means a written notice delivered, at a time when a Revolving Credit Default or Note Default has
occurred and is continuing, by either Revolving Credit Agent or the Collateral Agent to the other announcing that an Enforcement Period has commenced, specifying the relevant event of default, stating the current balance of the Revolving Credit
Obligations or the Note Obligations, as the case may be, and requesting the current balance of the Revolving Credit Obligations or Note Obligations, as the case may be, owing to the noticed party. 
 “Enforcement Period” means the period of time following the receipt by either the Revolving Credit Agent or the
Collateral Agent of an Enforcement Notice from the other until the earliest of (i) in the case of an Enforcement Period commenced by the Collateral Agent, the Discharge of Note Obligations, (ii) in the case of an Enforcement Period
commenced by Revolving Credit Agent, the Discharge of Revolving Credit Obligations, (iii) the Revolving Credit Agent or the Collateral Agent (as applicable) agree in writing to terminate the Enforcement Period, or (iv) the date on which
the Revolving Credit Default or the Note Default that was the subject of the Enforcement Notice relating to such Enforcement Period has been cured to the satisfaction of the Revolving Credit Agent or the Collateral Agent, as applicable, or waived in
writing. 
 “Equipment” means: (i) all “equipment” (as defined in Article 9 of the UCC),
(ii) all machinery, manufacturing equipment, data processing equipment, computers, office equipment, furnishings, furniture, appliances, “fixtures” (as defined in the UCC) and tools (in each case, regardless of whether characterized
as equipment under the UCC) and (iii) all accessions or additions thereto, all parts thereof, whether or not at any time of determination incorporated or installed therein or attached thereto, and all replacements therefore, wherever located,
now or hereafter existing, including any fixtures. 
  

 -5- 

 “General Intangibles” means all present and future “general
intangibles” (as defined in Article 9 of the UCC), but excluding “payment intangibles” (as defined in Article 9 of the UCC), Hedge Agreements and Intellectual Property and any rights thereunder. 
 “Governmental Authority” means any federal, state, municipal, national or other government, governmental department,
commission, board, bureau, court, agency or instrumentality or political subdivision thereof or any entity or officer exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to any government or any
court, in each case whether associated with a state of the United States, the United States, or a foreign entity or government. 
 “Grantors” means the Company, Holdings, each Company Subsidiary and each other Person that has or may from time to time hereafter execute and deliver a Revolving Credit Security Document or a Note Security Document as a
grantor of a security interest (or the equivalent thereof). 
 “Hedge Agreements” means any Interest Rate
Agreement, Commodities Agreement or a Currency Agreement entered into with a Lender Counterparty in order to satisfy the requirements of the Revolving Credit Agreement or otherwise in the ordinary course of one or more Grantor’s businesses.

 “Holdings” has the meaning assigned to that term in the Recitals to this Agreement. 
 “Indebtedness” means and includes all Obligations that constitute “Indebtedness” within the meaning of the
Revolving Credit Agreement or the Indenture, as applicable. 
 “Indenture” has the meaning assigned to that
term in the Recitals to this Agreement. 
 “Initial Notes” has the meaning assigned to that term in the
Recitals to this Agreement. 
 “Initial Revolving Credit Agreement” has the meaning assigned to that term in
the Recitals to this Agreement. 
 “Insolvency or Liquidation Proceeding” means: 
 (a) any voluntary or involuntary case or proceeding under the Bankruptcy Code with respect to any Grantor; 
 (b) any other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any receivership, liquidation,
reorganization or other similar case or proceeding with respect to any Grantor or with respect to a material portion of their respective assets; 
  

 -6- 

 (c) any liquidation, dissolution, reorganization or winding up of any Grantor, whether
voluntary or involuntary and whether or not involving insolvency or bankruptcy; or 
 (d) any general assignment for the
benefit of creditors or any other marshalling of assets and liabilities of any Grantor. 
 “Instruments”
means all present and future “instruments” (as defined in Article 9 of the UCC). 
 “Intellectual
Property” means, collectively, the Copyrights, the Copyright Licenses, the Patents, the Patent Licenses, the Trademarks, the Trademark Licenses, the Trade Secrets, and the Trade Secret Licenses. 
 “Interest Rate Agreement” means any present or future interest rate swap agreement (whether from fixed to floating or
from floating to fixed), interest rate cap agreement, interest rate collar agreement, interest rate hedging agreement or other similar agreement or arrangement each of which is for the purpose of hedging the interest rate exposure associated with
one or more Grantor’s operations. 
 “Inventory” means all present and future “inventory” (as
defined in Article 9 of the UCC) including, without limitation, all goods held for sale or lease or to be furnished under contracts of service or so leased or furnished, all raw materials, work in process, finished goods, and materials used or
consumed in the manufacture, packing, shipping, advertising, selling, leasing, furnishing or production of such inventory; all goods constituting inventory in which any Grantor has an interest in mass or a joint or other interest or right of any
kind; and all such goods which are returned to or repossessed by any Grantor, all computer programs embedded in any such goods and all accessions thereto and products thereof (in each case, regardless of whether characterized as inventory under the
UCC). 
 “Investment Property” means all present and future “investment property” (as defined in
Article 9 of the UCC), including, without limitation, all Subsidiary Stock. 
 “Lender Counterparty” means
each Revolving Credit Lender or any Affiliate of a Revolving Credit Lender counterparty to a Hedge Agreement (including any Person who is a Revolving Credit Lender (and any Affiliate thereof) but subsequently, after entering into a Hedge Agreement,
ceases to be a Revolving Credit Lender), including, without limitation, each such Affiliate that enters into a joinder agreement with the Revolving Credit Agent. 
 “Lien” means any lien, mortgage, pledge, assignment, security interest, charge or encumbrance of any kind (including any
agreement to give any of the foregoing, any conditional sale or other title retention agreement, and any lease in the nature thereof) and any option, trust, UCC financing statement or other preferential arrangement having the practical effect of any
of the foregoing. 
  

 -7- 

 “Maximum Note Debt Amount” is defined in the definition of Note
Obligations. 
 “Maximum Revolving Credit Debt Amount” is defined in the definition of Revolving Credit
Obligations. 
 “Mortgaged Premises” means any real property which shall now or hereafter be subject to a
Note Mortgage and/or a Revolving Credit Mortgage. 
 “New Agent” has the meaning assigned to that term in
Section 5.5. 
 “New Debt Notice” has the meaning assigned to that term in Section 5.5. 

“Note Claimholders” means, at any relevant time, the holders of Note Obligations at that time, including the
Noteholders, the Trustee and the Collateral Agent under the Note Documents. 
 “Note Collateral” means any
and all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any Note Obligations. 
 “Note Default” means an “Event of Default” as defined in the Indenture. 
 “Note Documents” means the Indenture, the Notes, the purchase agreements entered thereunder with respect to issuance of
the Notes, and the Collateral Agreements (as defined in the Indenture) and each of the other agreements, documents and instruments providing for or evidencing any other Note Obligation, and any other document or instrument executed or delivered at
any time in connection with any Note Obligations, including any intercreditor or joinder agreement among holders of Note Obligations to the extent such are effective at the relevant time, as each may be amended, restated, supplemented, modified,
renewed, extended or Refinanced from time to time in accordance with the provisions of this Agreement. 
 “Note
General Intangibles” means all General Intangibles which are not Revolving Credit General Intangibles. 
 “Noteholders” means the “Holders” under and as defined in the Indenture. 
 “Note
Mortgages” means a collective reference to each mortgage, deed of trust and any other document or instrument under which any Lien on real property owned or leased by any Grantor is granted to secure any Note Obligations or under which
rights or remedies with respect to any such Liens are governed. 
  

 -8- 

 “Note Obligations” means all Obligations outstanding under the Notes and
the other Note Documents; provided that the principal amount and stated amount of loans and letters of credit under the Notes shall not, at the time incurred, exceed (a) $172,000,000 minus (b) the amount of any mandatory payments of
the principal amount of the Note Obligations, including as a result of any mandatory redemptions, repurchases, defeasance or reacquisitions of the Note Obligations, exclusive of interest, fees, reasonable expenses, Protective Advances, and indemnity
obligations (the “Maximum Note Debt Amount”). “Note Obligations” shall include all interest accrued or accruing (or which would, absent commencement of an Insolvency or Liquidation Proceeding, accrue) after commencement of
an Insolvency or Liquidation Proceeding in accordance with the rate specified in the relevant Note Document, whether or not the claim for such interest is allowed as a claim in such Insolvency or Liquidation Proceeding. 
 “Note Primary Collateral” means all now owned or hereafter acquired Collateral other than the Revolving Credit Primary
Collateral, including, without limitation all: (a) Equipment; (b) Real Estate Assets; (c) Intellectual Property; (d) Note General Intangibles; (e) Investment Property other than Investment Property constituting Revolving
Credit Primary Collateral pursuant to clause (d) of the definition of Revolving Credit Primary Collateral; (f) documents of title related to Equipment; (g) all letter-of-credit rights arising out of or related to any of the property
or interests in property described in this definition; (h) letters of credit transferred to the Collateral Agent or any Noteholder, or with respect to which the proceeds thereof have been assigned to the Collateral Agent or any Noteholder, or
on which the Collateral Agent or any Noteholder is named as beneficiary, in each case arising out of or related to the property or interests in property described in this definition; (i) Records, “supporting obligations” (as defined
in Article 9 of the UCC), commercial tort claims or other claims and causes of action, in each case, to the extent related primarily to the foregoing; and (j) substitutions, replacements, accessions, products and proceeds (including, without
limitation, insurance proceeds, licenses, royalties, income, payments, claims, damages and proceeds of suit) of any or all of the foregoing. 
 “Note Security Documents” means any agreement, document or instrument pursuant to which a Lien is granted securing any Note Obligations or under which rights or remedies with respect to such Liens are
governed. 
 “Notes” means, collectively, (a) the Initial Notes and (b) any other credit agreement,
loan agreement, note agreement, promissory note, indenture or other agreement or instrument evidencing or governing the terms of any indebtedness or other financial accommodation that has been incurred to increase, replace, refinance or refund in
whole or in part the Obligations outstanding under the Initial Notes or any other agreement or instrument referred to in this clause, unless such agreement or instrument expressly provides that it is not intended to be and is not a Note, or such
agreement or instrument is not a Permitted Refinancing Agreement. Any reference to the Notes hereunder shall be deemed a reference to any Notes then in existence. 
  

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 “Note Standstill Period” has the meaning set forth in
Section 3.1(a)(1). 
 “Obligations” means all obligations of every nature of each Grantor from time to
time owed to any agent or trustee, the Revolving Credit Claimholders, the Note Claimholders or any of them or their respective Affiliates, in each case under the Revolving Credit Loan Documents, the Note Documents or Hedge Agreements, whether for
principal, interest or payments for early termination of Interest Rate Agreements, fees, expenses, indemnification or otherwise and all guarantees of any of the foregoing, including, without limitation, the “Obligations”, as defined in the
Revolving Credit Agreement, and the “Indebtedness”, as defined in the Indenture, under the Notes. 
 “Patents” shall mean all United States and foreign patents and certificates of invention, or similar industrial property rights, and applications for any of the foregoing, including, but not limited to: (i) each patent
and patent application referred to from time to time on schedules to Revolving Credit Security Documents or Note Security Documents, (ii) all reissues, divisions, continuations, continuations-in-part, extensions, renewals, and reexaminations
thereof, (iii) all rights corresponding thereto throughout the world, (iv) all inventions and improvements described therein, and (v) all rights to sue for past, present and future infringements thereof. 
 “Patent Licenses” means all present and future agreements providing for the granting of any right in or to Patents
(whether such Grantor is licensee or licensor thereunder). 
 “Permitted Refinancing” means any Refinancing
the governing documentation of which constitutes Permitted Refinancing Agreements. 
 “Permitted Refinancing
Agreements” means, with respect to either the Revolving Credit Agreement or the Notes, as the case may be, any credit agreement, loan agreement, note agreement, promissory note, indenture or other agreement or instrument evidencing or
governing the terms of any indebtedness or other financial accommodation that has been incurred to increase, replace, refinance or refund in whole or in part the Obligations outstanding under the Revolving Credit Agreement or the Notes, as such
financing documentation may be amended, restated, supplemented or otherwise modified from time to time in compliance with this Agreement, but specifically excluding any such financing documentation to the extent that it contains, either initially or
by amendment or other modification, any material terms, conditions, covenants or defaults not permitted by Sections 5.3(a), (c) and (d). 
 “Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Pledged Collateral” has the meaning set forth in Section 5.4(a). 
  

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 “Protective Advances” means amounts expended by the Revolving Credit
Claimholders or the Note Claimholders to protect or enforce rights in the Collateral. 
 “Real Estate Asset”
means, at any time of determination, any interest (fee, leasehold or otherwise) then owned by the Company or any Grantor in any real property. 
 “Records” means all present and future “records” (as defined in Article 9 of the UCC). 
 “Recovery” has the meaning set forth in Section 6.4. 
 “Refinance” means, in respect of any Indebtedness, to refinance, extend, renew, defease, amend, modify, supplement, restructure, replace, refund or repay, or to issue other indebtedness, in exchange or replacement for, such
Indebtedness, in any case in whole or in part. “Refinanced” and “Refinancing” shall have correlative meanings. 
 “Required Revolving Lenders” means the “Required Lenders” (as defined in the Revolving Credit Agreement). 
 “Revolving Credit Agent” has the meaning assigned to that term in the Recitals to this Agreement. 
 “Revolving Credit Agreement” means collectively, (a) the Initial Revolving Credit Agreement and (b) any other
credit agreement, loan agreement, note agreement, promissory note, indenture or other agreement or instrument evidencing or governing the terms of any indebtedness or other financial accommodation that has been incurred to increase, replace,
refinance or refund in whole or in part the Obligations outstanding under the Initial Revolving Credit Agreement or any other agreement or instrument referred to in this clause, unless such agreement or instrument expressly provides that it is not
intended to be and is not a Revolving Credit Agreement, or such agreement or instrument is not a Permitted Refinancing Agreement. Any reference to the Revolving Credit Agreement hereunder shall be deemed a reference to any Revolving Credit Agreement
then in existence. 
 “Revolving Credit Claimholders” means, at any relevant time, the holders of Revolving
Credit Obligations at that time, including the Revolving Credit Lenders and the Revolving Credit Agent under the Revolving Credit Loan Documents. 
 “Revolving Credit Collateral” means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any Revolving Credit
Obligations. 
 “Revolving Credit Commitments” means the “Commitments” (as defined in the Revolving
Credit Agreement). 
  

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 “Revolving Credit Default” means an “Event of Default” (as
defined in the Revolving Credit Agreement). 
 “Revolving Credit General Intangibles” means all General
Intangibles (other than Intellectual Property) pertaining to the other items of property included within clauses (a), (b), (c), (d), (f) and (g) of the definition of Revolving Credit Primary Collateral, including, without limitation, all
contingent rights with respect to warranties on Inventory or Accounts which are not yet “payment intangibles” (as defined in Article 9 of the UCC). 
 “Revolving Credit Lenders” means the “Lenders” under and as defined in the Revolving Credit Loan Documents.

 “Revolving Credit Loan Documents” means the Revolving Credit Agreement and the Loan Documents (as defined
in the Revolving Credit Agreement), including Hedge Agreements entered into with a Lender Counterparty, and each of the other agreements, documents and instruments providing for or evidencing any other Revolving Credit Obligation, and any other
document or instrument executed or delivered at any time in connection with any Revolving Credit Obligations, including any intercreditor or joinder agreement among holders of Revolving Credit Obligations, to the extent such are effective at the
relevant time, as each may be amended, restated, supplemented, modified, renewed, extended or Refinanced from time to time in accordance with the provisions of this Agreement. 
 “Revolving Credit Mortgages” means a collective reference to each mortgage, deed of trust and other document or
instrument under which any Lien on real property owned or leased by any Grantor is granted to secure any Revolving Credit Obligations or under which rights or remedies with respect to any such Liens are governed. 
 “Revolving Credit Obligations” means all Obligations outstanding under the Revolving Credit Agreement and the other
Revolving Credit Loan Documents, including Hedge Agreements entered into with any Lender Counterparty; provided that the principal amount and stated amount of loans and letters of credit under the Revolving Credit Agreement shall not, at the
time incurred, exceed (a) $20,000,000 minus (b) the amount of any mandatory permanent reductions in the Revolving Commitments exclusive of interest, fees, reasonable expenses, Protective Advances, indemnity obligations and obligations
under Hedge Agreements (the “Maximum Revolving Credit Debt Amount”). “Revolving Credit Obligations” shall include all interest accrued or accruing (or which would, absent commencement of an Insolvency or Liquidation
Proceeding, accrue) after commencement of an Insolvency or Liquidation Proceeding in accordance with the rate specified in the relevant Revolving Credit Loan Document whether or not the claim for such interest is allowed as a claim in such
Insolvency or Liquidation Proceeding. 
 “Revolving Credit Primary Collateral” means all now owned or
hereafter acquired Revolving Credit Collateral which constitutes: (a) Accounts, other than “payment 

  

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intangibles” (as defined in Article 9 of the UCC) which constitute identifiable proceeds of Note Primary Collateral; (b) all Inventory or documents
of title for any Inventory; (c) Hedge Agreements; (d) Deposit Accounts, Investment Property constituting (i) proceeds of Revolving Credit Primary Collateral, (ii) Securities Accounts (including all cash, marketable securities and
other funds held in or on deposit in either of the foregoing) and (iii) the stock of the Company, Instruments and Chattel Paper; provided, however, that to the extent that Instruments or Chattel Paper constitute identifiable
proceeds of Note Primary Collateral or other identifiable proceeds of Note Primary Collateral are deposited or held in any such Deposit Accounts or Securities Accounts after an Enforcement Notice, then (as provided in Section 3.5 below) such
Instruments, Chattel Paper or other identifiable proceeds shall be treated as Note Primary Collateral; (e) Revolving Credit General Intangibles; (f) all letter-of-credit rights arising out of or related to any of the property or interests
in property described in this definition or which are otherwise included in the Borrowing Base (as defined in the Revolving Credit Agreement); (g) letters of credit transferred to the Revolving Credit Agent or any Revolving Credit Lender, or
with respect to which the proceeds thereof have been assigned to the Revolving Credit Agent or any Revolving Credit Lender, or on which the Revolving Credit Agent or any Revolving Credit Lender is named as beneficiary, in each case arising out of or
related to the property or interests in property described in this definition or which are otherwise included in the Borrowing Base (as defined in the Revolving Credit Agreement); (h) credit insurance with respect to any Accounts;
(i) Records, “supporting obligations” (as defined in Article 9 of the UCC), commercial tort claims or other claims and causes of action, in each case, to the extent related primarily to any of the foregoing; and
(j) substitutions, replacements, accessions, products and proceeds (including, without limitation, insurance proceeds, licenses, royalties, income, payments, claims, damages and proceeds of suit) of any or all of the foregoing. 
 “Revolving Credit Security Documents” means any agreement, document or instrument pursuant to which a Lien is granted
securing any Revolving Credit Obligations or under which rights or remedies with respect to such Liens are governed. 
 “Secured Parties” means the Revolving Credit Claimholders and the Note Claimholders. 
 “Securities Accounts” means all present and future “securities accounts” (as defined in Article 8 of the UCC), including all monies, “uncertificated securities,” and “securities entitlements”
(as defined in Article 8 of the UCC) contained therein. 
 “Subsidiary” means, with respect to any Person,
any corporation, partnership, limited liability company, association, joint venture or other business entity of which more than 50% of the total voting power of shares of stock or other ownership interests entitled (without regard to the occurrence
of any contingency) to vote in the election of the Person or Persons (whether directors, managers, trustees or other Persons performing similar functions) having the power to direct or cause the direction of the management and policies thereof is at
the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof. 
  

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 “Subsidiary Stock” means all present and future equity securities of
Subsidiaries of the Company and Holdings which are Subsidiaries. 
 “Trademark Licenses” means any and all
present and future agreements providing for the granting of any right in or to Trademarks (whether such Grantor is licensee or licensor thereunder). 
 “Trademarks” means all present and future United States, and foreign trademarks, trade names, corporate names, company names, business names, fictitious business names, Internet domain names, service
marks, certification marks, collective marks, logos, other source or business identifiers, designs and general intangibles of a like nature, all registrations and applications for any of the foregoing including, but not limited to: (i) all
extensions or renewals of any of the foregoing, (ii) all of the goodwill of the business connected with the use of and symbolized by the foregoing, and (iii) the right to sue for past, present and future infringement or dilution of any of
the foregoing or for any injury to goodwill. 
 “Trade Secret Licenses” means any and all present and future
agreements providing for the granting of any right in or to Trade Secrets (whether such Grantor is licensee or licensor thereunder). 
 “Trade Secrets” means all present and future trade secrets and other confidential or proprietary information and know-how, regardless of whether such Trade Secret has been reduced to a writing or other tangible form,
including all documents and things embodying, incorporating, or referring in any way to such Trade Secret, including but not limited to the right to sue for past, present and future misappropriation or other violation of any Trade Secret.

 “Trustee” has the meaning assigned to that term in the Recitals to this Agreement. 
 “UCC” means the Uniform Commercial Code (or any similar or equivalent legislation) as in effect in any applicable
jurisdiction. 
 “Use Period” means, with respect to: (a) the Note Primary Collateral (exclusive of the
Note Primary Collateral located on each applicable parcel of the Mortgaged Premises for which an Access Period has commenced under Section 3.3), the period, after the commencement of an Enforcement Period by the Revolving Credit Agent, which
begins on the day that the Revolving Credit Agent provides the Collateral Agent with an Enforcement Notice and ends on the earliest of (i) the 120th day after the Revolving Credit Agent obtains the ability to take physical possession of, remove, or otherwise control physical access to, or actually uses, such Note Primary Collateral following
Enforcement 

  

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plus such number of days, if any, after the Revolving Credit Agent obtains physical access to such Note Primary Collateral that it is stayed or otherwise
prohibited by law or court order from exercising remedies with respect to such Note Primary Collateral, (ii) the date on which all or substantially all of the Revolving Credit Primary Collateral is sold, collected or liquidated, (iii) the
date on which the Discharge of Revolving Credit Obligations occurs, or (iv) the date on which the Revolving Credit Default that was the subject of the Enforcement Notice relating to such Enforcement Period has been cured to the satisfaction of
the Revolving Credit Agent or waived in writing. 
 1.2 Terms Generally. The definitions of terms in this Agreement shall apply
equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and
“including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise:

 (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to
such agreement, instrument or other document as from time to time amended, restated, supplemented, modified, renewed or extended; 
 (b) any reference herein to any Person shall be construed to include such Person’s permitted successors and assigns; 
 (c) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof; 
 (d) all references herein to Sections shall be construed to refer to Sections of this Agreement; 
 (e) all uncapitalized terms have the meanings, if any, given to them in the UCC, as now or hereafter enacted in the State of Ohio (unless
otherwise specifically defined herein); and 
 (f) the words “asset” and “property” shall be construed to
have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 
 II. LIEN PRIORITIES. 
 2.1 Relative Priorities. Notwithstanding the date, time, method, manner
or order of grant, attachment or perfection of any Liens securing the Note Obligations granted on the Collateral or of any Liens securing the Revolving Credit Obligations granted on the Collateral and notwithstanding any provision of any UCC, or any
other applicable law, or the Revolving Credit Loan Documents or the Note Documents or any defect or deficiencies in, or failure to perfect, 

  

 -15- 

 
the Liens securing the Revolving Credit Obligations or Note Obligations or any other circumstance whatsoever, the Revolving Credit Agent, on behalf of itself
and the Revolving Credit Claimholders and the Collateral Agent, on behalf of itself and the Note Claimholders hereby agree that: 
 (a) any Lien of the Revolving Credit Agent on the Revolving Credit Primary Collateral securing the Revolving Credit Obligations up to the Maximum Revolving Credit Debt Amount, whether such Lien is now or hereafter held by or on behalf of
the Revolving Credit Agent or any Revolving Credit Claimholders or any agent or trustee therefor, regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be senior in all respects and
prior to any Lien on the Revolving Credit Primary Collateral securing any Note Obligations; and 
 (b) any Lien of the
Collateral Agent on the Note Primary Collateral securing the Note Obligations up to the Maximum Note Debt Amount, whether such Lien is now or hereafter held by or on behalf of the Collateral Agent, any Note Claimholders or any agent or trustee
therefor regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be senior in all respects to all Liens on the Note Primary Collateral securing any Revolving Credit Obligations.

 2.2 Prohibition on Contesting Liens. Each of the Collateral Agent, for itself and on behalf of each Note Claimholder, and the
Revolving Credit Agent, for itself and on behalf of each Revolving Credit Claimholder, agrees that it will not (and hereby waives any right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or
Liquidation Proceeding), the perfection, priority, validity or enforceability of a Lien held by or on behalf of any of the Revolving Credit Claimholders or any of the Note Claimholders in the Collateral, or the provisions of this Agreement;
provided that nothing in this Agreement shall be construed to prevent or impair the rights of either Agent or any Revolving Credit Claimholder or Note Claimholder to enforce this Agreement, including the provisions of this Agreement relating
to the priority of the Liens securing the Obligations as provided in Sections 2.1, 3.1 and 3.2. 
 2.3 No New Liens. So long as
neither the Discharge of Revolving Credit Obligations nor the Discharge of Note Obligations has occurred, subject to Article VI hereof, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against one or more of the
Company or any other Grantor, the parties hereto agree that the Company shall not, and shall not permit any other Grantor to: 
 (a) grant or permit any additional Liens on any asset or property to secure any Note Obligation unless it has granted or concurrently grants a Lien on such asset or property to secure the Revolving Credit Obligations; or 
 (b) grant or permit any additional Liens on any asset or property to secure any Revolving Credit Obligations unless it has granted or
concurrently grants a Lien on such asset or property to secure the Note Obligations. 
  

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 To the extent any additional Liens are granted on any asset or property pursuant to this Section 2.3, the priority
of such additional Liens shall be determined in accordance with Section 2.1. In addition, to the extent that the foregoing provisions are not complied with for any reason, without limiting any other rights and remedies available hereunder, the
Revolving Credit Agent on behalf of the Revolving Credit Claimholders and the Collateral Agent, on behalf of Note Claimholders, agree that any amounts received by or distributed to any of them pursuant to or as a result of Liens granted in
contravention of this Section 2.3 shall be subject to Section 4.2. 
 2.4 Similar Liens and Agreements. The parties hereto
agree that it is their intention that the Revolving Credit Collateral and the Note Collateral be identical. In furtherance of the foregoing and of Section 8.8, the parties hereto agree, subject to the other provisions of this Agreement:

 (a) upon request by the Revolving Credit Agent or the Collateral Agent, to cooperate in good faith (and to direct their
counsel to cooperate in good faith) from time to time in order to determine the specific items included in the Revolving Credit Collateral and the Note Collateral and the steps taken to perfect their respective Liens thereon and the identity of the
respective parties obligated under the Revolving Credit Loan Documents and the Note Documents; and 
 (b) that the Revolving
Credit Security Documents and the Note Security Documents and guarantees for the Revolving Credit Obligations and the Note Obligations, subject to Section 5.3(b), shall be in all material respects the same forms of documents in respect of the
extent of the Collateral securing the respective Obligations (but for this Agreement) and the remedies in respect thereof. 
 III. ENFORCEMENT.

 3.1 Exercise of Remedies — Restrictions on the Collateral Agent and the Note Claimholders. 
 (a) Until the Discharge of Revolving Credit Obligations has occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or
against any Grantor, subject to Article VI hereof, the Collateral Agent and the Note Claimholders: 
 (1) will not exercise or
seek to exercise any rights or remedies with respect to any Revolving Credit Primary Collateral (including the exercise of any right of set-off or any right under any Account Agreement, landlord waiver or bailee’s letter or similar agreement or
arrangement to which the Collateral Agent or any Note Claimholder is a party) or institute any action or proceeding with respect to such rights or remedies (including any action of foreclosure); provided, however, that the Collateral
Agent may exercise any or all such rights or remedies after the passage of a period of at least 180 days has elapsed since the later of: (i) the date on which the Collateral Agent declared the existence of a Note Default and demanded the
repayment of all the principal amount of any Note Obligations; and (ii) the date on which the Revolving Credit Agent received notice 

  

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from the Collateral Agent of such declarations of a Note Default; provided, further, however, that notwithstanding anything herein to
the contrary, in no event shall the Collateral Agent or any Note Claimholder exercise any rights or remedies with respect to the Revolving Credit Primary Collateral if, notwithstanding the expiration of the 180 day period, the Revolving Credit Agent
or Revolving Credit Claimholders shall have, within such 180 day period, commenced and be diligently pursuing the exercise of their rights or remedies with respect to all or any material portion of such Collateral (prompt notice of such exercise to
be given to the Collateral Agent) (the period during which the Collateral Agent and the Note Claimholders may not pursuant to this Section 3.1(a)(1) exercise or seek to exercise any rights or remedies with respect to any Revolving Credit
Primary Collateral, the “Note Standstill Period”); 
 (2) will not contest, protest, object to or hinder any
foreclosure proceeding or action brought by the Revolving Credit Agent or any Revolving Credit Claimholder or any other exercise by the Revolving Credit Agent or any Revolving Credit Claimholder of any rights and remedies relating to the Revolving
Credit Primary Collateral, including any sale, lease, exchange, transfer or other disposition of the Revolving Credit Primary Collateral, whether under the Revolving Credit Loan Documents or otherwise; 
 (3) subject to their rights under clause (a)(1) above and except as may be permitted in Section 3.1(c), will not object to the
forbearance by the Revolving Credit Agent or the Revolving Credit Claimholders from bringing or pursuing any Enforcement with respect to the Revolving Credit Primary Collateral; 
 (4) subject to their rights under clause (a)(1) above and except as may be permitted in Section 3.1(c) and 6.3(c)(1), waive any and
all rights the Note Claimholders may have as a junior lien creditor or otherwise to object to the manner in which the Revolving Credit Agent or the Revolving Credit Claimholders seek to enforce or collect the Revolving Credit Obligations or the
Liens securing the Revolving Credit Obligations granted in any of the Revolving Credit Loan Documents or undertaken in accordance with this Agreement, regardless of whether any action or failure to act by or on behalf of the Revolving Credit Agent
or Revolving Credit Claimholders is adverse to the interest of the Note Claimholders; and 
 (5) subject to their rights under
clause (a)(1) above and except as may be permitted in Section 3.1(c) and 6.3(c)(1), acknowledge and agree that no covenant, agreement or restriction contained in the Note Security Documents or any other Note Document (other than this Agreement)
shall be deemed to restrict in any way the rights and remedies of the Revolving Credit Agent or the Revolving Credit Claimholders with respect to the Revolving Credit Primary Collateral as set forth in this Agreement and the Revolving Credit Loan
Documents; 
 provided, however, that, in the case of (1), (2) and (3) above, the Liens granted to secure the Note Obligations of the
Note Claimholders shall attach to any proceeds resulting from actions taken by the Revolving Credit Agent or any Revolving Credit Claimholder with respect to the 

  

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Revolving Credit Primary Collateral in accordance with this Agreement after application of such proceeds to the extent necessary to meet the requirements of
a Discharge of Revolving Credit Obligations. 
 (b) Until the Discharge of Revolving Credit Obligations has occurred, whether or not any
Insolvency or Liquidation Proceeding has been commenced by or against any Grantor, the Revolving Credit Agent and the Revolving Credit Claimholders shall have the right to enforce rights, exercise remedies (including set-off and the right to credit
bid their debt) and, in connection therewith (including voluntary Dispositions of Revolving Credit Primary Collateral by the respective Grantors after a Revolving Credit Default) make determinations regarding the release, disposition, or
restrictions with respect to the Revolving Credit Primary Collateral without any consultation with or the consent of the Collateral Agent or any Note Claimholder; provided, however, that the Lien securing the Note Obligations shall
remain on the proceeds (other than those properly applied to the Revolving Credit Obligations in accordance with the Revolving Credit Loan Documents) of such Collateral released or disposed of subject to the relative priorities described in
Section 2. In exercising rights and remedies with respect to the Revolving Credit Primary Collateral, the Revolving Credit Agent and the Revolving Credit Claimholders may enforce the provisions of the Revolving Credit Loan Documents and
exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion. Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of
the Revolving Credit Primary Collateral upon foreclosure, to incur expenses in connection with such sale or disposition, and to exercise all the rights and remedies of a secured creditor under the UCC and of a secured creditor under the Bankruptcy
Laws of any applicable jurisdiction. 
 (c) Notwithstanding anything to the contrary contained herein, the Collateral Agent and any Note
Claimholder may: 
 (1) file a claim or statement of interest with respect to the Note Obligations; provided that an
Insolvency or Liquidation Proceeding has been commenced by or against any Grantor; 
 (2) take any action (not adverse to the
priority status of the Liens on the Revolving Credit Primary Collateral, or the rights of the Revolving Credit Agent or any of the Revolving Credit Claimholders to exercise remedies in respect thereof) in order to create, perfect, preserve or
protect (but, prior to the expiration of the Note Standstill Period, not enforce) its Lien on any of the Revolving Credit Primary Collateral; 
 (3) file any necessary responsive or defensive pleadings in opposition to any motion, claim, adversary proceeding or other pleading made by any person objecting to or otherwise seeking the disallowance of the claims
of the Note Claimholders, including any claims secured by the Revolving Credit Primary Collateral, if any, in each case in accordance with the terms of this Agreement; 
  

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 (4) file any pleadings, objections, motions or agreements which assert rights or
interests available to unsecured creditors of the Grantors arising under either any Insolvency or Liquidation Proceeding or applicable non-bankruptcy law, in each case not inconsistent with the terms of this Agreement; 
 (5) vote on any plan of reorganization, file any proof of claim, make other filings and make any arguments and motions that are, in each
case, in accordance with the terms of this Agreement, with respect to the Note Obligations and the Note Primary Collateral; and 
 (6) exercise any of its rights or remedies with respect to any of the Collateral after the termination of the Note Standstill Period to the extent permitted by Section 3.1(a)(1). 
 The Collateral Agent, on behalf of itself and the Note Claimholders, agrees that it will not take or receive any Revolving Credit Primary Collateral or
any proceeds of such Collateral in connection with the exercise of any right or remedy (including set-off) with respect to any such Collateral in its capacity as a creditor in violation of this Agreement. Without limiting the generality of the
foregoing, unless and until the Discharge of Revolving Credit Obligations has occurred, except as expressly provided in Sections 3.1(a), 6.3(c)(1) and this Section 3.1(c), the sole right of the Collateral Agent and the Note Claimholders with
respect to the Revolving Credit Primary Collateral is to hold a Lien on such Collateral pursuant to the Note Security Documents for the period and to the extent granted therein and to receive a share of the proceeds thereof, if any, after the
Discharge of Revolving Credit Obligations has occurred. 
 (d) [Reserved.] 
 (e) Except as otherwise specifically set forth in Sections 3.1(a) and (d) and 3.5 and Article 6, the Collateral Agent and the Note Claimholders may
exercise rights and remedies as unsecured creditors against any Grantor and may exercise rights and remedies with respect to the Note Primary Collateral, in each case, in accordance with the terms of the Note Documents and applicable law;
provided, however, that in the event that any Note Claimholder becomes a judgment Lien creditor in respect of Revolving Credit Primary Collateral as a result of its enforcement of its rights as an unsecured creditor with respect to the
Note Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes (including in relation to the Revolving Credit Obligations) as the other Liens securing the Note Obligations are subject to this Agreement.

 (f) Except as provided in Section 5.3(d), nothing in this Agreement shall prohibit the receipt by the Collateral Agent or any Note
Claimholders of the required payments of interest, principal and other amounts owed in respect of the Note Obligations so long as such receipt is not the direct or indirect result of the exercise by the Collateral Agent or any Note Claimholders of
rights or remedies as a secured creditor (including set-off with respect to Revolving Credit Primary Collateral) or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement impairs or otherwise
adversely affects any rights or remedies the Revolving Credit Agent or the Revolving Credit Claimholders may have against the Grantors under the Revolving Credit Loan Documents. 
  

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 3.2 Exercise of Remedies — Restrictions on the Revolving Credit Agent and Revolving Credit
Claimholders. 
 (a) Until the Discharge of Note Obligations has occurred, whether or not any Insolvency or Liquidation Proceeding has
been commenced by or against any Grantor, subject to Article VI hereof, the Revolving Credit Agent and the Revolving Credit Claimholders: 
 (1) will not exercise or seek to exercise any rights or remedies with respect to any Note Primary Collateral (including the exercise of any right of set-off or any right under any Account Agreement, landlord waiver or
bailee’s letter or similar agreement or arrangement to which the Revolving Credit Agent or any Revolving Credit Claimholder is a party) or institute any action or proceeding with respect to such rights or remedies (including any action of
foreclosure); provided, however, that the Revolving Credit Agent may exercise the rights provided for in Section 3.3 (with respect to any Access Period) and Section 3.4 (with respect any Access Period or Use Period);

 (2) will not contest, protest, object to or hinder any foreclosure proceeding or action brought by the Collateral Agent or
any Note Claimholder or any other exercise by the Collateral Agent or any Note Claimholder of any rights and remedies relating to the Note Primary Collateral, including any sale, lease, exchange, transfer or other disposition of the Note Primary
Collateral, whether under the Note Documents or otherwise subject to the Collateral Agent’s and the Note Claimholders’ obligations under Sections 3.3 and 3.4; and 
 (3) subject to their rights under clause (a)(1) above and except as may be permitted in Section 3.2(c), will not object to the
forbearance by the Collateral Agent or the Note Claimholders from bringing or pursuing any Enforcement with respect to the Noteholder Primary Collateral; 
 (4) Subject to Sections 3.2(a) and (c) and Sections 3.3, 3.4, 3.5, and 6.3(c)(2), waive any and all rights the Revolving Credit Claimholders may have as a junior lien creditor or otherwise to object to the manner
in which the Collateral Agent or the Note Claimholders seek to enforce or collect the Note Obligations or the Liens securing the Note Obligations granted in any of the Note Documents or undertaken in accordance with this Agreement, regardless of
whether any action or failure to act by or on behalf of the Collateral Agent or Note Claimholders is adverse to the interest of the Revolving Credit Claimholders; and 
 (5) Subject to Sections 3.2(a) and (c) and Sections 3.3, 3.4, 3.5, and 6.3(c)(2), acknowledge and agree that no covenant, agreement
or restriction contained in the Revolving Credit Security Documents or any other Revolving Credit Loan Document (other than this Agreement) shall be deemed to restrict in any way the rights and remedies of the 

  

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 Collateral Agent or the Note Claimholders with respect to the Note Primary Collateral as set forth in
this Agreement and the Note Documents; 
 provided, however, that in the case of (1), (2) and (3) above, the Liens granted to secure
the Revolving Obligations of the Revolving Claimholders shall attach to any proceeds resulting from actions taken by the Collateral Agent or any Note Claimholder with respect to the Note Primary Collateral in accordance with this Agreement after
application of such proceeds to the extent necessary to meet the requirements of a Discharge of Note Obligations. 
 (b) Until the Discharge
of Note Obligations has occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against any Grantor, the Collateral Agent and the Note Claimholders shall have the right to enforce rights, exercise remedies
(including set-off and the right to credit bid their debt) and make, in connection therewith (including voluntary Dispositions of Note Primary Collateral by the respective Grantors after a Note Default) determinations regarding the release,
disposition, or restrictions with respect to the Note Primary Collateral without any consultation with or the consent of the Revolving Credit Agent or any Revolving Credit Claimholder subject to the Collateral Agent’s and the Note
Claimholders’ obligations under Sections 3.3 and 3.4; provided, however, that the Lien securing the Revolving Credit Obligations shall remain on the proceeds (other than those properly applied to the Note Obligations in accordance
with the Note Documents) of such Collateral released or disposed of subject to the relative priorities described in Section 2. In exercising rights and remedies with respect to the Note Primary Collateral, the Collateral Agent and the Note
Claimholders may enforce the provisions of the Note Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion subject to the Collateral Agent’s and the Note
Claimholders’ obligations under Sections 3.3 and 3.4. Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of the Note Primary Collateral upon foreclosure, to incur expenses in
connection with such sale or disposition, and to exercise all the rights and remedies of a secured creditor under the UCC and of a secured creditor under the Bankruptcy Laws of any applicable jurisdiction. 
 (c) Notwithstanding anything to the contrary contained herein, the Revolving Credit Agent and any Revolving Credit Claimholder may: 
 (1) file a claim or statement of interest with respect to the Revolving Credit Obligations; provided that an Insolvency or
Liquidation Proceeding has been commenced by or against any Grantor; 
 (2) take any action (not adverse to the priority
status of the Liens on the Note Primary Collateral, or the rights of the Collateral Agent or any of the Note Claimholders to exercise remedies in respect thereof) in order to create, perfect, preserve or protect (but not enforce) its Lien on any of
the Note Primary Collateral; 
 (3) file any necessary responsive or defensive pleadings in opposition to any motion, claim,
adversary proceeding or other pleading made by any person objecting to 

  

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or otherwise seeking the disallowance of the claims of the Revolving Credit Claimholders, including any claims secured by the Note Primary Collateral, if
any, in each case in accordance with the terms of this Agreement; 
 (4) file any pleadings, objections, motions or agreements
which assert rights or interests available to unsecured creditors of the Grantors arising under either any Insolvency or Liquidation Proceeding or applicable non-bankruptcy law, in each case not inconsistent with the terms of this Agreement; and

 (5) vote on any plan of reorganization, file any proof of claim, make other filings and make any arguments and motions that
are, in each case, in accordance with the terms of this Agreement, with respect to the Revolving Credit Obligations and the Revolving Credit Primary Collateral. 
 The Revolving Credit Agent, on behalf of itself and the Revolving Credit Claimholders, agrees that it will not take or receive any Note Primary Collateral or any proceeds of such Collateral in connection with the
exercise of any right or remedy (including set-off) with respect to any such Collateral in its capacity as a creditor in violation of this Agreement. Without limiting the generality of the foregoing, unless and until the Discharge of Note
Obligations has occurred, except as expressly provided in Sections 3.2(a), 3.3, 3.4, 3.5, 6.3(c)(2) and this Section 3.2(c), the sole right of the Revolving Credit Agent and the Revolving Credit Claimholders with respect to the Note Primary
Collateral is to hold a Lien on such Collateral pursuant to the Revolving Credit Security Documents for the period and to the extent granted therein and to receive a share of the proceeds thereof, if any, after the Discharge of Note Obligations has
occurred. 
  
 (d) [Reserved.]: 
 (e) Except as otherwise specifically set forth in Sections 3.2(a) and (d) and 3.5 and Article 6, the Revolving Credit Agent and the Revolving Credit
Claimholders may exercise rights and remedies as unsecured creditors against any Grantor and may exercise rights and remedies with respect to the Revolving Credit Primary Collateral, in each case, in accordance with the terms of the Revolving Credit
Loan Documents and applicable law; provided, however, that in the event that any Revolving Credit Claimholder becomes a judgment Lien creditor in respect of Note Primary Collateral as a result of its enforcement of its rights as an
unsecured creditor with respect to the Revolving Credit Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes (including in relation to the Note Obligations) as the other Liens securing the Revolving Credit
Obligations are subject to this Agreement. 
 (f) Except as provided in Section 5.3(c), nothing in this Agreement shall prohibit the
receipt by the Revolving Credit Agent or any Revolving Credit Claimholders of the required payments of interest, principal and other amounts owed in respect of the Revolving Credit Obligations so long as such receipt is not the direct or indirect
result of the exercise by the Revolving Credit Agent or any Revolving Credit Claimholders of rights or remedies as a secured creditor (including set-off with respect to Note Primary Collateral) or enforcement in contravention 

  

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 of this Agreement of any Lien held by any of them. Nothing in this Agreement impairs or otherwise adversely affects any
rights or remedies the Collateral Agent or the Note Claimholders may have against the Grantors under the Note Documents. 
  
 3.3 Exercise of Remedies — Collateral Access Rights. 
 (a) The Revolving Credit Agent and the Collateral Agent agree not to commence Enforcement until an Enforcement Notice has been given to the other Agent. Subject to the provisions of Sections 3.1 and 3.2 above either
Agent may join in any judicial proceedings commenced by the other Agent to enforce Liens on the Collateral, provided that neither Agent, nor the Revolving Credit Claimholders or Note Claimholders, as the case may be, shall interfere with the
Enforcement actions of the other with respect to Collateral in which such party has the priority Lien in accordance herewith. 
 (b) If the
Collateral Agent, or any agent or representative of the Collateral Agent, or any receiver, shall, in connection with any Enforcement, obtain possession or physical control of any of the Mortgaged Premises, the Collateral Agent shall promptly notify
the Revolving Credit Agent in writing of that fact, and the Revolving Credit Agent shall, within ten (10) Business Days thereafter, notify the Collateral Agent in writing as to whether the Revolving Credit Agent desires to exercise access
rights under this Agreement. In addition, if the Revolving Credit Agent, or any agent or representative of the Revolving Credit Agent, or any receiver, shall obtain possession or physical control of any of the Mortgaged Premises or any of the
tangible Note Primary Collateral located on any premises other than a Mortgaged Premises or control over any intangible Note Primary Collateral, following the delivery to the Collateral Agent of an Enforcement Notice, then the Revolving Credit Agent
shall promptly notify the Collateral Agent that the Revolving Credit Agent is exercising its access rights under this Agreement and its rights under Section 3.4. Upon delivery of such notice under either circumstance by the Revolving Credit
Agent to the Collateral Agent, the parties shall confer in good faith to coordinate with respect to the Revolving Credit Agent’s exercise of such access rights. Access rights may apply to differing parcels of Mortgaged Premises at differing
times, in which case, a differing Access Period may apply to each such property. 
 (c) Upon delivery of notice to the Collateral Agent as
provided in Section 3.3(b), the Access Period shall commence for the subject parcel of Mortgaged Premises. During the Access Period, the Revolving Credit Agent and its agents, representatives and designees shall have an irrevocable,
non-exclusive right to have access to, and a rent-free right to use, the Note Primary Collateral for the purpose of arranging for and effecting the sale or disposition of Revolving Credit Primary Collateral, including the production, completion,
packaging and other preparation of such Revolving Credit Primary Collateral for sale or disposition. During any such Access Period, the Revolving Credit Agent and its representatives (and persons employed on their behalf), may continue to operate,
service, maintain, process and sell the Revolving Credit Primary Collateral, as well as to engage in bulk sales of Revolving Credit Primary Collateral. The Revolving Credit Agent shall take proper care of any Note Primary Collateral that is used by
the Revolving Credit Agent during the Access Period and repair and replace any damage (ordinary wear-and-tear excepted) caused by the Revolving Credit Agent or its agents, representatives 

  

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or designees and the Revolving Credit Agent shall comply with all applicable laws in connection with its use or occupancy of the Note Primary Collateral. The
Revolving Credit Agent and the Revolving Credit Claimholders shall indemnify and hold harmless the Collateral Agent and the Note Claimholders for any injury or damage to Persons or property (ordinary wear-and-tear excepted) caused by the acts or
omissions of Persons under its control; provided, however, that the Revolving Credit Agent and the Revolving Credit Claimholders will not be liable for any diminution in the value of the Mortgaged Premises caused by the absence of the
Revolving Credit Primary Collateral therefrom. The Revolving Credit Agent and the Collateral Agent shall cooperate and use reasonable efforts to ensure that their activities during the Access Period as described above do not interfere materially
with the activities of the other as described above, including the right of Collateral Agent to show the Note Primary Collateral to prospective purchasers and to ready the Note Primary Collateral for sale. 
 (d) If any order or injunction is issued or stay is granted which prohibits the Revolving Credit Agent from exercising any of its rights hereunder, then
at the Revolving Credit Agent’s option, the Access Period granted to the Revolving Credit Agent under this Section 3.3 shall be stayed during the period of such prohibition and shall continue thereafter for the number of days remaining as
required under this Section 3.3. If the Collateral Agent shall foreclose or otherwise sell or dispose of any of the Note Primary Collateral during the Access Period, the Collateral Agent will notify the buyer thereof of the existence of this
Agreement and that the buyer is acquiring the Note Primary Collateral subject to the terms of this Agreement; provided that, notwithstanding such foreclosure, sale or other disposition by the Collateral Agent, it will be the Collateral
Agent’s obligation to ensure that the Revolving Credit Agent and the Revolving Credit Claimholders shall continue to be able to exercise their rights under this Section 3.3 and Section 3.4 during the Access Period or Use Period, as
applicable. 
 (e) The Revolving Credit Agent and the Revolving Credit Claimholders shall have the right to bring an action to enforce their
rights under this Section 3.3 and Section 3.4, including, without limitation, an action seeking possession of the applicable Collateral and/or specific performance of this Section 3.3 and Section 3.4. 
 3.4 Exercise of Remedies — Intellectual Property Rights/Access to Information. The Collateral Agent and each Grantor hereby grants (to the
full extent of their respective rights and interests) the Revolving Credit Agent and its agents, representatives and designees (a) an irrevocable royalty-free, rent-free license and lease (which will be binding on any successor or assignee of
any Note Primary Collateral) to use, upon the occurrence and during the continuation of a Revolving Credit Default, all of the Note Primary Collateral, including any computer or other data processing Equipment and Intellectual Property, to collect
all Accounts, to copy, use, or preserve any and all information relating to any of the Collateral, and to complete the manufacture, packaging and sale of (i) work-in-process, (ii) raw materials and (iii) complete inventory and
(b) an irrevocable royalty-free license (which will be binding on any successor or assignee of the Intellectual Property) to use any and all Intellectual Property at any time in connection with its Enforcement; provided, however,
the royalty-free, rent-free license and lease granted in clause (a) with respect to the applicable Note Primary Collateral shall immediately expire upon the end of (1) the Access Period applicable to such Note Primary Collateral located on
any Mortgaged Premises and (2) the applicable Use Period with respect to any Note Primary Collateral not located on any Mortgaged Premises. 
  

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 3.5 Exercise of Remedies — Set-Off and Tracing of and Priorities in Proceeds. The Collateral
Agent, for itself and on behalf of the Note Claimholders, acknowledges and agrees that, to the extent the Collateral Agent or any Note Claimholder exercises its rights of set-off against any Grantors’ Deposit Accounts, Securities Accounts or
other assets, the amount of such set-off shall be deemed to be the Revolving Credit Primary Collateral to be held and distributed pursuant to Section 4.3; provided, however, that the foregoing shall not apply to any set-off by the
Collateral Agent against any Note Primary Collateral to the extent applied to payment of Note Obligations. The Revolving Credit Agent, for itself and on behalf of the Revolving Claimholders, and the Collateral Agent, for itself and on behalf of the
Note Claimholders, further agree that prior to an issuance of an Enforcement Notice, any proceeds of Collateral, whether or not deposited under Account Agreements, which are used by any Grantor to acquire other property which is Collateral shall not
(solely as between the Agents, the Revolving Claimholders and the Note Claimholders) be treated as proceeds of Collateral for purposes of determining the relative priorities in the Collateral which was so acquired. In addition, unless and until the
Discharge of Revolving Credit Obligations occurs, the Collateral Agent and the Note Claimholders each hereby consents to the application, prior to the issuance of an Enforcement Notice by the Collateral Agent, of cash or other proceeds of
Collateral, deposited under Account Agreements to the repayment of Revolving Credit Obligations pursuant to the Revolving Credit Loan Documents; provided that this consent shall not apply if the Revolving Credit Agent has actual knowledge
that such proceeds result from the sale or other disposition of Note Primary Collateral. 
  
 IV. PAYMENTS. 
 4.1 Application of Proceeds. 
 (a) So long as the Discharge of Revolving Credit Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced
by or against any Grantor, all Revolving Credit Primary Collateral or proceeds thereof received in connection with the sale or other disposition of, or collection on, such Collateral upon the exercise of remedies by either Agent or any Revolving
Credit Claimholders or Note Claimholders, shall be applied by the Revolving Credit Agent to the Revolving Credit Obligations in such order, if any, as specified in the relevant Revolving Credit Loan Documents. Upon the Discharge of Revolving Credit
Obligations, the Revolving Credit Agent shall deliver to the Collateral Agent any Collateral and proceeds of Collateral held by it in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise
direct to be applied by the Collateral Agent to the Note Obligations in such order as specified in the Note Security Documents. 
 (b) So
long as the Discharge of Note Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against any Grantor, all Note Primary Collateral or proceeds thereof received in connection with the sale or
other disposition of, or collection on, such Collateral upon the exercise of remedies by either Agent or 

  

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any Note Claimholders or Revolving Credit Claimholders, shall be applied by the Collateral Agent to the Note Obligations in such order as specified in the
relevant Note Documents. Upon the Discharge of Note Obligations, the Collateral Agent shall deliver to the Revolving Credit Agent any Collateral and proceeds of Collateral held by it in the same form as received, with any necessary endorsements or
as a court of competent jurisdiction may otherwise direct to be applied by the Revolving Credit Agent to the Revolving Credit Obligations in such order as specified in the Revolving Credit Security Documents. 
 4.2 Payments Over in Violation of Agreement. So long as neither the Discharge of Revolving Credit Obligations nor the Discharge of Note
Obligations has occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against any Grantor, any Collateral or proceeds thereof (including assets or proceeds subject to Liens referred to in the final sentence of
Section 2.3) received by either Agent or any Note Claimholders or Revolving Credit Claimholders in connection with the exercise of any right or remedy (including set-off) relating to the Collateral in contravention of this Agreement shall be
segregated and held in trust and forthwith paid over to the appropriate Agent for the benefit of the Note Claimholders or the Revolving Credit Claimholders, as the case may be, in the same form as received, with any necessary endorsements or as a
court of competent jurisdiction may otherwise direct. Each Agent is hereby authorized by the other Agent to make any such endorsements as agent for the other Agent or any Note Claimholders or Revolving Credit Claimholders, as the case may be. This
authorization is coupled with an interest and is irrevocable until the Discharge of Revolving Credit Obligations and Discharge of Note Obligations. 
 4.3 Application of Payments. Subject to the other terms of this Agreement, all payments received by (a) the Revolving Credit Agent or the Revolving Credit Claimholders may be applied, reversed and reapplied, in whole or in part,
to the Revolving Credit Obligations to the extent provided for in the Revolving Credit Loan Documents and (b) the Collateral Agent or the Note Claimholders may be applied, reversed and reapplied, in whole or in part, to the Note Obligations to
the extent provided for in the Note Documents. 
  
 V. OTHER AGREEMENTS.

 5.1 Releases. 
 (a)
(i) If, in connection with the exercise of the Revolving Credit Agent’s rights or remedies in respect of any Collateral as provided for in Sections 3.1(b) or 6.9(a), the Revolving Credit Agent, for itself or on behalf of any of the
Revolving Credit Claimholders, releases any of its Liens on any part of the Revolving Credit Primary Collateral, then the Liens, if any, of the Collateral Agent, for itself or for the benefit of the Note Claimholders, on the Collateral sold or
disposed of in connection with such exercise, shall be automatically, unconditionally and simultaneously released. The Collateral Agent, for itself or on behalf of any such Note Claimholders, promptly shall execute and deliver to the Revolving
Credit Agent or such Grantor such termination statements, releases and other documents as the Revolving Credit Agent or such Grantor may request to effectively confirm such release. 
  

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 (ii) If, in connection with the exercise of the Collateral Agent’s rights or remedies in respect of
any Collateral as provided for in Sections 3.2(b) or 6.9(b), the Collateral Agent, for itself or on behalf of any of the Note Claimholders, releases any of its Liens on any part of the Note Primary Collateral, then the Liens, if any, of the
Revolving Credit Agent, for itself or for the benefit of the Revolving Credit Claimholders, on the Collateral sold or disposed of in connection with such exercise, shall be automatically, unconditionally and simultaneously released; provided
that the provisions of Section 3.3 and 3.4, including the Collateral Agent’s obligation to ensure that the Revolving Credit Agent and Revolving Credit Claimholders shall be able to exercise their rights under Sections 3.3 and 3.4 during
the Access Period or Use Period, as applicable, shall continue. The Revolving Credit Agent, for itself or on behalf of any such Revolving Credit Claimholders, promptly shall execute and deliver to the Collateral Agent or such Grantor such
termination statements, releases and other documents as the Collateral Agent or such Grantor may reasonably request to effectively confirm such release. 
 (b) If in connection with any sale, lease, exchange, transfer or other disposition of any Collateral (collectively, a “Disposition”) permitted under the terms of both the Revolving Credit Loan
Documents and the Note Documents (other than in connection with the exercise of the respective Agent’s rights and remedies in respect of the Collateral as provided for in Sections 3.1 and 3.2), (i) the Revolving Credit Agent, for itself or
on behalf of any of the Revolving Credit Claimholders, releases any of its Liens on any part of the Revolving Credit Primary Collateral, in each case other than (A) in connection with the Discharge of Revolving Credit Obligations or
(B) after the occurrence and during the continuance of a Note Default, then the Liens, if any, of the Collateral Agent, for itself or for the benefit of the Note Claimholders, on such Collateral shall be automatically, unconditionally and
simultaneously released, or (ii) the Collateral Agent, for itself or on behalf of any of the Note Claimholders, releases any of its Liens on any part of the Note Primary Collateral, in each case other than (A) in connection with the
Discharge of Note Obligations or (B) after the occurrence and during the continuance of a Revolving Credit Default, then the Liens, if any, of the Revolving Credit Agent, for itself or for the benefit of the Revolving Credit Claimholders, on
such Collateral (or, if such Collateral includes Subsidiary Stock, the Liens on Collateral owned by such Subsidiary) shall be automatically, unconditionally and simultaneously released. The Revolving Credit Agent and the Collateral Agent, each for
itself and on behalf of any such Revolving Credit Claimholders or Note Claimholder, as the case may be, promptly shall execute and deliver to the other Agent or such Grantor such termination statements, releases and other documents as the other
Agent or such Grantor may reasonably request to effectively confirm such release. 
 (c) Until the Discharge of Revolving Credit Obligations
and Discharge of Note Obligations shall occur, the Revolving Credit Agent, for itself and on behalf of the Revolving Credit Claimholders, and the Collateral Agent, for itself and on behalf of the Note Claimholders, as the case may be, hereby
irrevocably constitutes and appoints the other Agent and any officer or agent of the other Agent, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of the other
Agent or such holder or in the Agent’s own name, from time to time in such Agent’s discretion exercised in good faith, for the purpose of carrying out the terms of this Section 5.1, to take any and all appropriate action and to
execute any and all documents and instruments which may be necessary to accomplish the purposes of this Section 5.1, including any endorsements or other instruments of transfer or release. 
  

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 (d) Until the Discharge of Revolving Credit Obligations and Discharge of Note Obligations shall occur, to
the extent that the Agents or the Revolving Credit Claimholders or the Note Claimholders (i) have released any Lien on Collateral and such Lien is later reinstated or (ii) obtain any new liens from any Grantor, then, in accordance with
Section 2.3, the Grantors shall grant a Lien on any such Collateral, subject to the Lien priority provisions of this Agreement, to the other Agent, for itself and for the Revolving Credit Claimholders or Note Claimholders, as the case may be.

  
 5.2 Insurance. 
 (a) Unless and until the Discharge of Revolving Credit Obligations has occurred, subject to the terms of, and the rights of the Grantors under, the
Revolving Credit Loan Documents, (i) the Revolving Credit Agent and the Revolving Credit Claimholders shall have the sole and exclusive right to adjust settlement for any insurance policy covering the Revolving Credit Primary Collateral in the
event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting such Collateral; (ii) all proceeds of any such policy and any such award (or any payments
with respect to a deed in lieu of condemnation) if in respect to such Collateral and to the extent required by the Revolving Credit Loan Documents shall be paid to the Revolving Credit Agent for the benefit of the Revolving Credit Claimholders
pursuant to the terms of the Revolving Credit Loan Documents (including, without limitation, for purposes of cash collateralization of letters of credit) and thereafter, if the Discharge of Revolving Credit Obligations has occurred, and subject to
the rights of the Grantors under the Note Security Documents, to the Collateral Agent for the benefit of the Note Claimholders to the extent required under the Note Security Documents and then, to the extent no Note Obligations are outstanding, to
the owner of the subject property, such other Person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct, and (iii) if the Collateral Agent or any Note Claimholders shall, at any time, receive any proceeds of
any such insurance policy or any such award or payment with respect to Revolving Credit Primary Collateral in contravention of this Agreement, it shall segregate and hold in trust and forthwith pay such proceeds over to the Revolving Credit Agent in
accordance with the terms of Section 4.2. 
 (b) Unless and until the Discharge of Note Obligations has occurred, subject to the terms
of, and the rights of the Grantors under, the Note Documents, (i) the Collateral Agent and the Note Claimholders shall have the sole and exclusive right to adjust settlement for any insurance policy covering the Note Primary Collateral in the
event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting such Collateral; (ii) all proceeds of any such policy and any such award (or any payments
with respect to a deed in lieu of condemnation) if in respect to such Collateral and to the extent required by the Note Documents shall be paid to the Collateral Agent for the benefit of the Note Claimholders pursuant to the terms of the Note
Documents (including, without limitation, for purposes of cash collateralization of letters of credit) and thereafter, if the 

  

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Discharge of Note Obligations has occurred, and subject to the rights of the Grantors under the Revolving Credit Security Documents, to the Revolving Credit
Agent for the benefit of the Revolving Credit Claimholders to the extent required under the Revolving Credit Security Documents and then, to the extent no Revolving Credit Obligations are outstanding, to the owner of the subject property, such other
Person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct, and (iii) if the Revolving Credit Agent or any Revolving Credit Claimholders shall, at any time, receive any proceeds of any such insurance policy
or any such award or payment with respect to Note Primary Collateral in contravention of this Agreement, it shall segregate and hold in trust and forthwith pay such proceeds over to the Collateral Agent in accordance with the terms of
Section 4.2. 
 (c) To effectuate the foregoing, the Agents shall each receive separate lender’s loss payable endorsements naming
themselves as loss payee and additional insured, as their interests may appear, with respect to policies which insure Collateral hereunder. 
  
 5.3 Amendments to Revolving Credit Loan Documents and Note Documents; Refinancing. 
 (a) Subject to Sections 5.3(c) and 5.3(d), the Revolving Credit Loan Documents and Note Documents may be amended, supplemented or otherwise modified in
accordance with their terms, and the Revolving Credit Obligations and the Note Obligations may be Refinanced, in each case, without notice to, or the consent of the Collateral Agent or the Note Claimholders, or the Revolving Credit Agent or the
Revolving Credit Claimholders, as the case may be, all without affecting the Lien subordination or other provisions of this Agreement, provided, however, that the holders of such Refinancing debt bind themselves in a writing addressed
to the Collateral Agent and the Note Claimholders or the Revolving Credit Agent and the Revolving Credit Claimholders, as the case may be, to the terms of this Agreement. For the avoidance of doubt, the sale or other transfer of Indebtedness is not
restricted by this Agreement. 
 (b) Subject to Sections 5.3(c) and 5.3(d), the Revolving Credit Agent and the Collateral Agent shall each
use good faith efforts to notify the other party of any written amendment or modification to the Revolving Credit Documents and Note Documents, but the failure to do so shall not create a cause of action against the party failing to give such notice
or create any claim or right on behalf of any third party. 
 (c) Without the consent of the Collateral Agent, the Revolving Credit Agent and
the Revolving Credit Claimholders will not agree to any amendment to or modification of, or consent to any waiver of departure from the Revolving Credit Loan Documents, whether in a Refinancing or otherwise, which: (i) (A) increases the
highest stated Applicable LIBOR Rate Margin, Applicable Prime Rate Margin or Applicable LOC Fee (each as defined in the Revolving Credit Agreement) described in Section 3.2.5 of the Revolving Credit Agreement or (B) changes the definitions
of “Prime Rate” or “LIBOR Rate” (each as defined in the Revolving Credit Agreement) to incorporate a stated margin over the applicable floating reference rate (after any stated reserve adjustments in either such definition) by
more than, in each case, 200 basis points above that which is in force under the Revolving Credit Agreement as in effect on the date of this 

  

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Agreement, except, in each case, in connection with the imposition of a default rate of interest in accordance with the terms of the Revolving Credit
Agreement as in effect on the date of this Agreement, (ii) changes any scheduled date upon which payments of interest on the Revolving Credit Obligations are due to an earlier date, or changes the final maturity date of the Revolving Loans (as
defined in the Revolving Credit Agreement) to an earlier date except, in either case, as a result of the occurrence of a Revolving Credit Default, including any right of acceleration as a result thereof, (iii) changes or adds any event of
default or any negative covenant with respect to the Revolving Credit Obligations in a manner which is more adverse to the Note Claimholders or more restrictive to the Company, Holdings or its Subsidiaries, unless such amendment or modification to
any negative covenant, or the addition of any event of default, is made in the Note Documents in direct response and corresponds to an adverse amendment or modification to any covenant, or the addition of any event of default, to the Revolving
Credit Loan Documents (in which case the Company, Holdings and their Subsidiaries shall, at the request of the Collateral Agent, agree to such amendment or modification of the appropriate Note Documents); provided, that in the case of any
such amendment or modification to any financial covenant in the Note Documents, the relative difference between such covenant, if any, as reflected in the Note Documents and the Revolving Credit Loan Documents as of the date hereof shall be
maintained, and in no event shall be more restrictive, and the addition of any event of default to the Indenture shall be consistent with any event of default added to the Revolving Credit Agreement, (iv) changes or adds any consensual
encumbrance or restriction of any kind on the express ability of the Company, Holdings or any of their Subsidiaries to pay any Note Obligations beyond that provided for in the Revolving Credit Loan Documents as in effect on the date hereof,
(v) allows or provides for the amount of the Revolving Credit Obligations to exceed the Maximum Revolving Credit Debt Amount, or (vi) alters any provision of any section of the Revolving Credit Loan Documents specifically referred to in
this Agreement to extent this Agreement is affected by such Section. 
 (d) Without the consent of the Revolving Credit Agent, the Collateral
Agent and the Note Claimholders will not agree to any amendment to or modification of, or consent to any waiver of departure from, the Note Documents, whether in a Refinancing or otherwise, which: (i) (A) increases the interest rate on the
Notes or (B) changes the definitions of “LIBOR” (as defined in the Indenture), to incorporate a stated margin over the applicable floating reference rate (after any stated reserve adjustments in either such definition) by more than,
in each case, 200 basis points above that which is in force under the Indenture as in effect on the date of this Agreement, except, in each case, in connection with the imposition of a default rate of interest in accordance with the terms of the
Indenture as in effect on the date of this Agreement, (ii) changes any scheduled date upon which payments of principal or interest on the Note Obligations are due to an earlier date (including changing the final maturity date of the Notes to an
earlier date) or changes or adds to the mandatory payment, prepayment or repurchase provisions of the Indenture, as in effect on the date of this Agreement, in a manner that increases the amount of, or requires additional or accelerated, prepayments
or repurchases, except, in either case, as a result of the occurrence of a Note Default, including any right of acceleration as a result thereof, (iii) changes or adds any event of default or any negative covenant with respect to the Note
Obligations in a manner which is more adverse to the Revolving Credit Claimholders or more restrictive 

  

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to the Company, Holdings or their Subsidiaries, unless such amendment or modification to any negative covenant, or the addition of any event of default, is
made in the Revolving Credit Loan Documents in direct response and corresponds to an adverse amendment or modification to any covenant, or the addition of any event of default, to the Note Documents (in which case the Company, Holdings and their
Subsidiaries shall, at the request of the Revolving Credit Agent, agree to such amendment or modification of the appropriate Revolving Credit Loan Documents), (iv) changes or adds any consensual encumbrance or restriction of any kind on the
express ability of the Company, Holdings or any of their Subsidiaries to pay any Revolving Credit Obligations beyond that provided for in the Note Documents as in effect on the date hereof, (v) allows or provides for the amount of the Note
Obligations to exceed the Maximum Note Debt Amount, or (vi) alters any provision of any section of the Note Documents specifically referred to in this Agreement to extent this Agreement is affected by such Section. 
  
 5.4 Bailees for Perfection. 
 (a) Each Agent agrees to hold that part of the Collateral that is in its possession or control (or in the possession or control of its agents or bailees)
to the extent that possession or control thereof is taken to perfect a Lien thereon (such Collateral, which shall include without limitation Account Agreements, being the “Pledged Collateral”) as (i) in the case of the
Revolving Credit Agent, the collateral agent for the Revolving Credit Claimholders under the Revolving Credit Loan Documents or, in the case of the Collateral Agent, the collateral agent for the Note Claimholders under the Note Documents and
(ii) gratuitous bailee for the benefit of the other Agent (such bailment being intended, among other things, to satisfy the requirements of Sections 8-301(a)(2) and 9-313(c) of the UCC) and any assignee solely for the purpose of perfecting the
security interest granted under the Revolving Credit Loan Documents and the Note Documents, respectively, subject to the terms and conditions of this Section 5.4. The Collateral Agent and the Note Claimholders hereby appoint the Revolving
Credit Agent as their gratuitous bailee for the purposes of perfecting their security interest in all Deposit Accounts and Securities Accounts of the Company, Holdings and their Subsidiaries. The Revolving Credit Agent hereby accepts such
appointment and acknowledges and agrees that it shall act for the benefit of the Collateral Agent and the Note Claimholders under each Account Agreement and that any proceeds received by the Revolving Credit Agent under any Account Agreement shall
be applied in accordance with Section IV. 
 (b) Neither Agent shall have any obligation whatsoever to the other Agent, to any Revolving
Credit Claimholder, or to any Note Claimholder to ensure that the Pledged Collateral is genuine or owned by any of the Grantors or to preserve rights or benefits of any Person except as expressly set forth in this Section 5.4. The duties or
responsibilities of the respective Agents under this Section 5.4 shall be limited solely to holding the Pledged Collateral as bailee in accordance with this Section 5.4 and delivering the Pledged Collateral or proceeds thereof upon a
Discharge of Revolving Credit Obligations or Discharge of Note Obligations, as the case may be, as provided in paragraph (d) below. 
 (c) Neither Agent acting pursuant to this Section 5.4 shall have by reason of the Revolving Credit Loan Documents, the Note Documents, this Agreement or any other document a fiduciary relationship in respect of the other Agent, any
Revolving Credit Claimholders or any Note Claimholder. 
  

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 (d) Upon the Discharge of Revolving Credit Obligations or the Discharge of Note Obligations, as the case
may be, the Agent under the credit facility which has been discharged shall deliver the remaining Pledged Collateral (if any) together with any necessary endorsements, first, to the other Agent to the extent the other Obligations remain
outstanding, and second, to the applicable Grantor to the extent the Discharge of Revolving Credit Obligations and the Discharge of Note Obligations have occurred (in each case, so as to allow such Person to obtain possession or control of
such Pledged Collateral). Each Agent further agrees to take all other action reasonably requested by the other Agent in connection with the other Agent obtaining a first-priority interest in the Collateral or as a court of competent jurisdiction may
otherwise direct. Notwithstanding anything to the contrary contained in this Agreement, any obligation of the Agent under the credit facility, which has been discharged, to make any delivery to the other Agent under this Section 5.4(d) or
Section 5.5 is subject to (i) the order of any court of competent jurisdiction, or (ii) any automatic stay imposed in connection with any Insolvency or Liquidation Proceeding. 
 (e) Subject to the terms of this Agreement, (i) so long as the Discharge of Revolving Credit Obligations has not occurred, the Revolving Credit
Agent shall be entitled to deal with the Pledged Collateral or Collateral within its “control” in accordance with the terms of this Agreement and other Revolving Credit Loan Documents, but only to the extent that such Collateral
constitutes Revolving Credit Primary Collateral, as if the Liens of the Collateral Agent and Note Claimholders did not exist, and (ii) so long as the Discharge of Note Obligations has not occurred, the Collateral Agent shall be entitled to deal
with the Pledged Collateral or Collateral within its “control” in accordance with the terms of this Agreement and other Note Documents, but only to the extent that such Collateral constitutes Note Primary Collateral, as if the Liens of the
Revolving Credit Agent and Revolving Credit Claimholders did not exist. 
 (f) U.S. Bank National Association (“U.S. Bank”), in its
capacity as the depository institution at which the Deposit Accounts listed on Schedule 1 hereto are maintained (the “Control Deposit Accounts”), Collateral Agent and the Grantors agree that U.S. Bank, in such capacity, will comply with
instructions originated by the Collateral Agent directing disposition of any funds in the Control Deposit Accounts without further consent by the Grantors; provided that the Collateral Agent may not give any such instruction until the Discharge of
Revolving Credit Obligations has occurred and at the time of such instructions a Note Default has occurred and is continuing and the Collateral Agent has delivered a certification to U.S. Bank that such Note Default has occurred and is continuing.
Notwithstanding the foregoing, nothing in this Section 5.4(f) shall obligate U.S. Bank to maintain, and U.S. Bank shall have the right to terminate at any time, the Control Deposit Accounts on behalf of any Grantor. Except for acting on
Grantor’s instructions in violation of an instruction of the Collateral Agent as provided above, U.S. Bank shall have no responsibility or liability to the Note Claimholders for complying with instructions concerning the Control Deposit
Accounts from Grantors or Grantor’s authorized representatives. U.S. Bank shall have no responsibility or liability to Grantors for complying with instructions from the Collateral Agent, and shall have no responsibility to investigate the
appropriateness 

  

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of any such instruction, even if Grantors notify U.S. Bank that Collateral Agent is not legally entitled to originate any such instruction. The Note
Claimholders (exclusive of the Trustee and the Collateral Agent) and the Grantors hereby agree to indemnify and hold harmless U.S. Bank, its directors, officers, agents and employees against any and all claims, causes of action, liabilities,
lawsuits, demands and damages, including without limitation, any and all court costs and reasonable attorney’s fees, in any way related to or arising out of or in connection with this Section 5.4(f) or any action taken or not taken
pursuant hereto, except to the extent caused by U.S. Bank’s gross negligence or willful misconduct or Bank’s breach of any of the provisions hereof. 
 5.5 When Discharge of Revolving Credit Obligations and Discharge of Note Obligations Deemed to Not Have Occurred. If concurrently with the Discharge of Revolving Credit Obligations or the Discharge of Note
Obligations, the Company thereafter enters into any Permitted Refinancing of any Revolving Credit Obligation or Note Obligation as the case may be, then such Discharge of Revolving Credit Obligations or the Discharge of Note Obligations shall
automatically be deemed not to have occurred for all purposes of this Agreement (other than with respect to any actions taken as a result of the occurrence of such first Discharge of Revolving Credit Obligations or the Discharge of Note
Obligations), and, from and after the date on which the New Debt Notice is delivered to the appropriate Agent in accordance with the next sentence, the obligations under such Permitted Refinancing shall automatically be treated as Revolving Credit
Obligations or Note Obligations for all purposes of this Agreement, as the case may be, including for purposes of the Lien priorities and rights in respect of Collateral set forth herein, and the Revolving Credit Agent or the Collateral Agent, as
the case may be, under such new Revolving Credit Loan Documents or Note Documents, as the case may, be shall be the Revolving Credit Agent or the Collateral Agent, as the case may be, for all purposes of this Agreement. Upon receipt of a notice (the
“New Debt Notice”) stating that the Company has entered into new Revolving Credit Loan Documents or new Note Documents (which notice shall include a complete copy of the relevant new documents and provide the identity of the new
Agent, such agent, the “New Agent”), the other Agent shall promptly (a) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Company or such New Agent shall reasonably request
in order to provide to the New Agent the rights contemplated hereby, in each case consistent in all material respects with the then terms of this Agreement and (b) deliver to the New Agent any Pledged Collateral held by it together with any
necessary endorsements (or otherwise allow the New Agent to obtain control of such Pledged Collateral). In accordance with Section 5.3(a), the New Agent shall agree in a writing addressed to the other Agent and the Revolving Credit Claimholders
or the Note Claimholders, as the case may be, to be bound by the terms of this Agreement. 
  
 VI. INSOLVENCY OR LIQUIDATION PROCEEDINGS. 
 6.1 Finance and Sale Issues. Until the Discharge of Revolving Credit
Obligations has occurred, if any Grantor shall be subject to any Insolvency or Liquidation Proceeding and the Revolving Credit Agent shall desire to permit the use of “Cash Collateral” (as such term is defined in Section 363(a) of the
Bankruptcy Code), on which the Revolving Credit Agent or any other creditor has a Lien or to permit any Grantor to obtain financing, whether from the Revolving 

  

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Credit Claimholders or any other Person under Section 364 of the Bankruptcy Code or any similar Bankruptcy Law (“DIP Financing”) then
the Collateral Agent, on behalf of itself and the Note Claimholders, agrees that it will raise no objection to such Cash Collateral use or DIP Financing so long as such Cash Collateral use or DIP Financing meet the following requirements:
(i) it is acceptable to the court presiding over such Insolvency or Liquidation Proceeding, (ii) the Collateral Agent and the Note Claimholders retain the right to object to any ancillary agreements or arrangements regarding the Cash
Collateral use or the DIP Financing that are materially prejudicial to their interests in the Note Primary Collateral in a manner inconsistent with the terms of this Agreement, (iii) the terms of the DIP Financing (a) do not compel the
applicable Grantor to seek confirmation of a specific plan of reorganization for which all or substantially all of the material terms of such plan are set forth in the DIP Financing documentation or a related document, (b) do not expressly
require the liquidation of any material portion of the Collateral prior to a default under the DIP Financing documentation or Cash Collateral order (exclusive of any slow moving, obsolete, damaged or surplus Collateral), and (c) any Lien on the
Note Primary Collateral to secure such DIP Financing is subordinate to the Lien of the Collateral Agent with respect thereto, and (iv) the amount of such DIP Financing together with the amount of the Revolving Credit Obligations does not exceed
the Maximum Revolving Credit Debt Amount. To the extent the Liens securing the Revolving Credit Obligations are subordinated to or pari passu with such DIP Financing which meets the requirements of clauses (i) through (iii) above, the
Collateral Agent will subordinate its Liens in the Revolving Credit Primary Collateral to the Liens securing such DIP Financing (and all Obligations relating thereto) and will not request adequate protection or any other relief in connection
therewith (except, as expressly agreed by the Revolving Credit Agent or to the extent permitted by Section 6.3). 
  
 6.2 Relief from the Automatic Stay. 
 (a) Until the Discharge of Revolving Credit Obligations has occurred, the Collateral Agent, on behalf of itself and the Note Claimholders, agrees that none of them shall seek (or support any other Person seeking) relief from the automatic
stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Revolving Credit Primary Collateral, without the prior written consent of the Revolving Credit Agent, unless the Revolving Credit Agent has already filed a motion
(which remains pending) for adequate protection with respect to its interest in such Revolving Credit Primary Collateral. 
 (b) Until the
Discharge of Note Obligations has occurred, the Revolving Credit Agent, on behalf of itself and the Revolving Credit Claimholders, agrees that none of them shall seek (or support any other Person seeking) relief from the automatic stay or any other
stay in any Insolvency or Liquidation Proceeding in respect of the Note Primary Collateral (other than to the extent such relief is required to exercise its rights under Sections 3.3 and 3.4), without the prior written consent of the Collateral
Agent, unless the Collateral Agent has already filed a motion (which remains pending) for adequate protection with respect to its interest in the Note Primary Collateral. 
  

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 6.3 Adequate Protection. 
 (a) The Collateral Agent, on behalf of itself and the Note Claimholders, agrees that none of them shall contest (or support any other Person contesting):

 (1) any request by the Revolving Credit Agent or the Revolving Credit Claimholders for adequate protection with respect to
the Revolving Credit Primary Collateral; or 
 (2) any objection by the Revolving Credit Agent or the Revolving Credit
Claimholders to any motion, relief, action or proceeding based on the Revolving Credit Agent or the Revolving Credit Claimholders claiming a lack of adequate protection. 
 (b) The Revolving Credit Agent, on behalf of itself and the Revolving Credit Claimholders, agrees that none of them shall contest (or support any other Person contesting): 
 (1) any request by the Collateral Agent or the Note Claimholders for adequate protection with respect to the Note Primary Collateral; or

 (2) any objection by the Collateral Agent or the Note Claimholders to any motion, relief, action or proceeding based on the
Collateral Agent or the Note Claimholders claiming a lack of adequate protection. 
 (c) Notwithstanding the foregoing provisions in this
Section 6.3, in any Insolvency or Liquidation Proceeding: 
 (1) if the Revolving Credit Claimholders (or any subset
thereof) are granted adequate protection with respect to the Revolving Credit Primary Collateral in the form of additional collateral (even if such collateral is not of a type which would otherwise have constituted Revolving Credit Primary
Collateral) in connection with any Cash Collateral use or DIP Financing, then the Collateral Agent, on behalf of itself or any of the Note Claimholders, may seek or request adequate protection with respect to its interests in such Collateral in the
form of a Lien on the same additional collateral, which Lien will be subordinated to the Liens securing the Revolving Credit Obligations and such Cash Collateral use or DIP Financing (and all Obligations relating thereto) on the same basis as the
other Liens of the Collateral Agent on Revolving Credit Primary Collateral; and 
 (2) in the event the Collateral Agent, on
behalf of itself or any of the Note Claimholders, seeks or requests adequate protection in respect of Note Primary Collateral and such adequate protection is granted in the form of additional collateral (even if such collateral is not of a type
which would otherwise have constituted Note Primary Collateral), then the Collateral Agent, on behalf of itself and any of the Note Claimholders, agrees that the Revolving Credit Agent may also be granted a Lien on the same additional collateral as
security for the Revolving Credit Obligations and for any Cash Collateral use or DIP Financing provided by the Revolving Credit Claimholders, and the Revolving Credit Agent, on behalf of itself and any of the Revolving Credit Claimholders, agrees

  

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that any Lien on such additional collateral securing the Revolving Credit Obligations shall be subordinated to the Liens on such collateral securing the Note
Obligations, any such DIP Financing provided by the Revolving Credit Claimholders (and all Obligations relating thereto) and to any other Liens granted to the Revolving Credit Claimholders as adequate protection, all on the same basis as the other
Liens of the Revolving Credit Agent on Note Primary Collateral. 
 (d) Except as otherwise expressly set forth in Section 6.1 or in
connection with the exercise of remedies with respect to (i) the Revolving Credit Primary Collateral, nothing herein shall limit the rights of the Collateral Agent or the Note Claimholders from seeking adequate protection with respect to their
rights in the Note Primary Collateral in any Insolvency or Liquidation Proceeding (including adequate protection in the form of a cash payment, periodic cash payments or otherwise) or (ii) the Note Primary Collateral, nothing herein shall limit
the rights of the Revolving Credit Agent or the Revolving Credit Claimholders from seeking adequate protection with respect to their rights in the Revolving Credit Primary Collateral in any Insolvency or Liquidation Proceeding (including adequate
protection in the form of a cash payment, periodic cash payments or otherwise). 
 6.4 Avoidance Issues. If any Revolving Credit
Claimholder or Note Claimholder is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of the applicable Grantor any amount paid in respect of Revolving Credit Obligations or the Note
Obligations, as the case may be (a “Recovery”), then such Revolving Credit Claimholders or Note Claimholders shall be entitled to a reinstatement of Revolving Credit Obligations or the Note Obligations, as the case may be, with
respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or
otherwise affect the obligations of the parties hereto from such date of reinstatement. 
 6.5 Reorganization Securities. If, in any
Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor are distributed pursuant to a plan of reorganization or similar dispositive restructuring plan, both on
account of Revolving Credit Obligations and on account of Note Obligations, then, to the extent the debt obligations distributed on account of the Revolving Credit Obligations and on account of the Note Obligations are secured by Liens upon the same
property, the provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the debt obligations so distributed, to the Liens securing such debt obligations and the
distribution of proceeds thereof. 
  
 6.6 Post-Petition Interest.

 (a) Neither the Collateral Agent nor any Note Claimholder shall oppose or seek to challenge any claim by the Revolving Credit Agent or any
Revolving Credit Claimholder for allowance in any Insolvency or Liquidation Proceeding of Revolving Credit Obligations consisting of post-petition interest, fees or expenses to the extent of the value of the Lien securing 

  

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any Revolving Credit Claimholder’s claim, without regard to the existence of the Lien of the Collateral Agent on behalf of the Note Claimholders on the
Collateral; provided that nothing contained in this Section 6.6(a) prohibits the Collateral Agent on behalf of the Note Claimholders from seeking adequate protection (to the extent it has not already done so under other provisions of
this Agreement) with respect to their rights in the Note Primary Collateral in any Insolvency or Liquidation Proceeding if such Note Primary Collateral is the source of payment of post-petition interest, fees or expenses payable to the Revolving
Credit Agent or any Revolving Credit Loan Claimholder. 
 (b) Neither the Revolving Credit Agent nor any other Revolving Credit Claimholder
shall oppose or seek to challenge any claim by the Collateral Agent or any Note Claimholder for allowance in any Insolvency or Liquidation Proceeding of Note Obligations consisting of post-petition interest, fees or expenses to the extent of the
value of the Lien securing any Note Claimholder’s claim, without regard to the existence of the Lien of the Revolving Credit Agent on behalf of the Revolving Credit Claimholders on the Collateral; provided that nothing contained in this
Section 6.6(b) prohibits the Revolving Credit Agent on behalf of the Revolving Credit Claimholders from seeking adequate protection (to the extent it has not already done so under other provisions of this Agreement) with respect to their rights
in the Revolving Credit Primary Collateral in any Insolvency or Liquidation Proceeding if such Revolving Credit Primary Collateral is the source of payment of post-petition interest, fees or expenses payable to the Collateral Agent or any Note
Claimholder. 
  
 6.7 Waiver — 1111(b)(2) Issues. 

(a) The Collateral Agent, for itself and on behalf of the Note Claimholders, waives any claim it may hereafter have against any Revolving Credit
Claimholder arising out of the election of any Revolving Credit Claimholder of the application of Section 1111(b)(2) of the Bankruptcy Code with respect to the Revolving Credit Primary Collateral in any Insolvency or Liquidation Proceeding.

 (b) The Revolving Credit Agent, for itself and on behalf of the Revolving Credit Claimholders, waives any claim it may hereafter have
against any Note Claimholder arising out of the election of any Note Claimholder of the application of Section 1111(b)(2) of the Bankruptcy Code with respect to the Note Primary Collateral in any Insolvency or Liquidation Proceeding.

 6.8 Separate Grants of Security and Separate Classification. The Collateral Agent, for itself and on behalf of the Note
Claimholders, and the Revolving Credit Agent for itself and on behalf of the Revolving Credit Claimholders, acknowledge and intend that: the grants of Liens pursuant to the Revolving Credit Security Documents and the Note Security Documents
constitute two separate and distinct grants of Liens, and because of, among other things, their differing rights in the Collateral, the Note Obligations are fundamentally different from the Revolving Credit Obligations and must be separately
classified in any plan of reorganization proposed or adopted in an Insolvency or Liquidation Proceeding. To further effectuate the intent of the parties as provided in the immediately preceding sentence, if it is held that the 

  

 -38- 

 
claims of the Revolving Credit Claimholders and the Note Claimholders in respect of the Collateral constitute claims in the same class (rather than separate
classes of senior and junior secured claims), then the Revolving Credit Claimholders and the Note Claimholders hereby acknowledge and agree that all distributions shall be made as if there were separate classes of Revolving Credit Obligations and
Note Obligations against the Grantors (with the effect being that, to the extent that the aggregate value of the Revolving Credit Primary Collateral or Note Primary Collateral is sufficient (for this purpose ignoring all claims held by the other
Secured Parties for whom such Collateral is non-primary), the Revolving Credit Claimholders or the Note Claimholders, respectively, shall be entitled to receive, in addition to amounts distributed to them in respect of principal, pre-petition
interest and other claims, all amounts owing in respect of post-petition interest, fees or expenses that is available from each pool of primary Collateral for each of the Revolving Credit Claimholders and the Note Claimholders, respectively, before
any distribution is made in respect of the claims held by the other Secured Parties for whom such Collateral is non-primary, with such other Secured Parties hereby acknowledging and agreeing to turn over to the respective other Secured Parties
amounts otherwise received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of reducing the aggregate recoveries. 
  
 6.9 Asset Dispositions in an Insolvency or Liquidation Proceeding.

 (a) Without limiting the Revolving Credit Agent’s and the Revolving Credit Claimholders’ rights under Section 3.1(b),
neither the Collateral Agent nor any other Note Claimholder shall, in any Insolvency or Liquidation Proceeding or otherwise, oppose any sale or disposition of any Revolving Credit Primary Collateral that is supported by the Revolving Credit
Claimholders, and the Collateral Agent and each other Note Claimholder will be deemed to have consented under Section 363 of the Bankruptcy Code (and otherwise) to any sale of any Revolving Credit Primary Collateral supported by the Revolving
Credit Claimholders and to have released their Liens on such assets; provided that to the extent the proceeds of such Collateral are not applied to reduce Obligations the Collateral Agent shall retain a Lien on such proceeds in accordance
with the terms of this Agreement. 
 (b) Without limiting the Collateral Agent’s and the Note Claimholders’ rights under
Section 3.2(b), neither the Revolving Credit Agent nor any other Revolving Credit Claimholder shall, in any Insolvency Proceeding or otherwise, oppose any sale or disposition of any Note Primary Collateral that is supported by the Note
Claimholders and made subject to Section 3.3(d), and the Revolving Credit Agent and each other Revolving Credit Claimholder will be deemed to have consented under Section 363 of the Bankruptcy Code (and otherwise) to any sale of any Note
Primary Collateral supported by the Note Claimholders and to have released their Liens on such assets; provided that to the extent the proceeds of such Collateral are not applied to reduce Obligations the Revolving Credit Agent shall retain a
Lien on such proceeds in accordance with the terms of this Agreement; provided further that the Revolving Credit Agent’s and the Revolving Credit Claimholders’ rights under Sections 3.3 and 3.4 shall survive any such sale or
disposition. 
  

 -39- 

 VII. RELIANCE; WAIVERS; ETC. 
 7.1 Reliance. Other than any reliance on the terms of this Agreement, the Revolving Credit Agent, on behalf of itself and the Revolving Credit Claimholders under the Revolving Credit Loan Documents,
acknowledges that it and such Revolving Credit Claimholders have, independently and without reliance on the Collateral Agent or any Note Claimholders, and based on documents and information deemed by them appropriate, made their own credit analysis
and decision to enter into such Revolving Credit Loan Documents and be bound by the terms of this Agreement, and they will continue to make their own credit decision in taking or not taking any action under the Revolving Credit Loan Documents or
this Agreement. The Collateral Agent, on behalf of itself and the Note Claimholders, acknowledges that it and the Note Claimholders have, independently and without reliance on the Revolving Credit Agent or any Revolving Credit Claimholder, and based
on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into each of the Note Documents and be bound by the terms of this Agreement, and they will continue to make their own credit decision in
taking or not taking any action under the Note Documents or this Agreement. 
 7.2 No Warranties or Liability. The Revolving Credit
Agent, on behalf of itself and the Revolving Credit Claimholders under the Revolving Credit Loan Documents, acknowledges and agrees that each of the Collateral Agent and the Note Claimholders have made no express or implied representation or
warranty, including with respect to the execution, validity, legality, completeness, collectibility or enforceability of any of the Note Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. Except as
otherwise provided in this Agreement, the Collateral Agent and the Note Claimholders will be entitled to manage and supervise their respective loans and extensions of credit under the Note Documents in accordance with law and as they may otherwise,
in their sole discretion, deem appropriate. The Collateral Agent, on behalf of itself and the Note Claimholders, acknowledges and agrees that the Revolving Credit Agent and the Revolving Credit Claimholders have made no express or implied
representation or warranty, including with respect to the execution, validity, legality, completeness, collectibility or enforceability of any of the Revolving Credit Loan Documents, the ownership of any Collateral or the perfection or priority of
any Liens thereon. Except as otherwise provided herein, the Revolving Credit Agent and the Revolving Credit Claimholders will be entitled to manage and supervise their respective loans and extensions of credit under their respective Revolving Credit
Loan Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate. The Collateral Agent and the Note Claimholders shall have no duty to the Revolving Credit Agent or any of the Revolving Credit Claimholders,
and the Revolving Credit Agent and the Revolving Credit Claimholders shall have no duty to the Collateral Agent or any of the Note Claimholders, to act or refrain from acting in a manner which allows, or results in, the occurrence or continuance of
an event of default or default under any agreements any Grantor (including the Revolving Credit Loan Documents and the Note Documents), regardless of any knowledge thereof which they may have or be charged with. 
  

 -40- 

 7.3 No Waiver of Lien Priorities. 
 (a) No right of the Agents, the Revolving Credit Claimholders or the Note Claimholders to enforce any provision of this Agreement or any Revolving Credit
Loan Document or Note Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of any Grantor or by any act or failure to act by such Agents, Revolving Credit Claimholder or Note Claimholders or by any
noncompliance by any Person with the terms, provisions and covenants of this Agreement, any of the Revolving Credit Loan Documents or any of the Note Documents, regardless of any knowledge thereof which the Agents or the Revolving Credit
Claimholders or Note Claimholders, or any of them, may have or be otherwise charged with. 
 (b) Without in any way limiting the generality
of the foregoing paragraph (but subject to the rights of the Grantors under the Revolving Credit Loan Documents and Note Documents and subject to the provisions of Sections 5.3(a), 5.3(c), and, as applicable, 5.3(d)), the Agents, the Revolving
Credit Claimholders and the Note Claimholders may, at any time and from time to time in accordance with the Revolving Credit Loan Documents and Note Documents and/or applicable law, without the consent of, or notice to, the other Agent or the
Revolving Credit Claimholder or the Note Claimholders (as the case may be), without incurring any liabilities to such Persons and without impairing or releasing the Lien priorities and other benefits provided in this Agreement (even if any right of
subrogation or other right or remedy is affected, impaired or extinguished thereby) do any one or more of the following: 
 (1) change the manner, place or terms of payment or change or extend the time of payment of, or amend, renew, exchange, increase or alter, the terms of any of the Obligations or any Lien or guaranty thereof or any liability of any Grantor,
or any liability incurred directly or indirectly in respect thereof (including any increase in or extension of the Obligations, without any restriction as to the tenor or terms of any such increase or extension) or otherwise amend, renew, exchange,
extend, modify or supplement in any manner any Liens held by the Agents or any rights or remedies under any of the Revolving Credit Loan Documents or the Note Documents; 
 (2) sell, exchange, release, surrender, realize upon, enforce or otherwise deal with in any manner and in any order any part of the
Collateral (except to the extent provided in this Agreement) or any liability of any Grantor or any liability incurred directly or indirectly in respect thereof; 
 (3) settle or compromise any Obligation or any other liability of any Grantor or any security therefore or any liability incurred directly
or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability in any manner or order that is not inconsistent with the terms of this Agreement; and 
 (4) exercise or delay in or refrain from exercising any right or remedy against any security or any Grantor or any other Person, elect any
remedy and otherwise deal freely with any Grantor. 
  

 -41- 

 7.4 Obligations Unconditional. All rights, interests, agreements and obligations of the Revolving
Credit Agent and the Revolving Credit Claimholders and the Collateral Agent and the Note Claimholders, respectively, hereunder shall remain in full force and effect irrespective of: 
 (a) any lack of validity or enforceability of any Revolving Credit Loan Documents or any Note Documents; 
 (b) except, in each case, as otherwise expressly set forth in this Agreement, any change in the time, manner or place of payment of, or in
any other terms of, all or any of the Revolving Credit Obligations or Note Obligations, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of conduct or otherwise, of the terms of any
Revolving Credit Loan Document or any Note Document; 
 (c) except as otherwise expressly set forth in this Agreement, any
exchange of any security interest in any Collateral or any other collateral, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the Revolving Credit Obligations or Note
Obligations or any guaranty thereof; 
 (d) the commencement of any Insolvency or Liquidation Proceeding in respect of any
Grantor; or 
 (e) any other circumstances which otherwise might constitute a defense available to, or a discharge of, any
Grantor in respect of the Revolving Credit Agent, the Revolving Credit Obligations, any Revolving Credit Claimholder, the Collateral Agent, the Note Obligations or any Note Claimholder in respect of this Agreement. 
  
 VIII. MISCELLANEOUS. 
 8.1 Conflicts. In the event of any conflict between the provisions of this Agreement and the provisions of any Revolving Credit Loan Document or
any Note Document, the provisions of this Agreement shall govern and control. 
 8.2 Effectiveness; Continuing Nature of this Agreement;
Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination and the Revolving Credit Claimholders and Note Claimholders may continue, at any time and
without notice to the other Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf of itself and the Revolving Credit Claimholders or the Note
Claimholders, as the case may be, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect,
in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability 

  

 -42- 

 
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such
Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as the case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect: 
 (a) with respect to the Revolving Credit Agent, the Revolving Credit Claimholders and the Revolving Credit Obligations, the date of the
Discharge of Revolving Credit Obligations, subject to the rights of the Revolving Credit Claimholders under Section 6.4; and 
 (b) with respect to the Collateral Agent, the Note Claimholders and the Note Obligations, the date of the Discharge of Note Obligations, subject to the rights of the Note Claimholders under Section 6.4. 
 8.3 Amendments; Waivers. No amendment, modification or waiver of any of the provisions of this Agreement by the Collateral Agent or the Revolving
Credit Agent shall be deemed to be made unless the same shall be in writing signed on behalf of each party hereto or its authorized agent and each waiver, if any, shall be a waiver only with respect to the specific instance involved and shall in no
way impair the rights of the parties making such waiver or the obligations of the other parties to such party in any other respect or at any other time. Notwithstanding the foregoing, no Grantor shall have any right to consent to or approve any
amendment, modification or waiver of any provision of this Agreement except to the extent its rights are directly affected. 
 8.4
Information Concerning Financial Condition of the Company and Their Subsidiaries. The Revolving Credit Agent and the Revolving Credit Claimholders, on the one hand, and the Collateral Agent and the Note Claimholders, on the other hand, shall
each be responsible for keeping themselves informed of (a) the financial condition of the Company, Holdings and their Subsidiaries and all endorsers and/or guarantors and other Grantors of the Revolving Credit Obligations or the Note
Obligations and (b) all other circumstances bearing upon the risk of nonpayment of the Revolving Credit Obligations or the Note Obligations. Neither the Revolving Credit Agent and the Revolving Credit Claimholders, on the one hand, nor the
Collateral Agent and the Note Claimholders, on the other hand, shall have any duty to advise the other of information known to it or them regarding such condition or any such circumstances or otherwise. In the event that either the Revolving Credit
Agent or any of the Revolving Credit Claimholders, on the one hand, or the Collateral Agent and the Note Claimholders, on the other hand, undertakes at any time or from time to time to provide any such information to any of the others, it or they
shall be under no obligation: 
 (a) to make, and shall not make, any express or implied representation or warranty, including
with respect to the accuracy, completeness, truthfulness or validity of any such information so provided; 
  

 -43- 

 (b) to provide any additional information or to provide any such information on any
subsequent occasion; 
 (c) to undertake any investigation; or 
 (d) to disclose any information, which pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain
confidential or is otherwise required to maintain confidential. 
  
 8.5
Subrogation. 
 (a) With respect to the value of any payments or distributions in cash, property or other assets that any of the Note
Claimholders or the Collateral Agent actually pays over to the Revolving Credit Agent or the Revolving Credit Claimholders under the terms of this Agreement, the Note Claimholders and the Collateral Agent shall be subrogated to the rights of the
Revolving Credit Agent and the Revolving Credit Claimholders; provided, however, that the Collateral Agent, on behalf of itself and the Note Claimholders, hereby agrees not to assert or enforce all such rights of subrogation it may
acquire as a result of any payment hereunder until the Discharge of Revolving Credit Obligations has occurred. The Grantors acknowledge and agree that, to the extent permitted by applicable law, the value of any payments or distributions in cash,
property or other assets received by the Collateral Agent or the Note Claimholders that are paid over to the Revolving Credit Agent or the Revolving Credit Claimholders pursuant to this Agreement shall not reduce any of the Note Obligations.
Notwithstanding the foregoing provisions of this Section 8.5(a), neither the Collateral Agent nor any of the Note Claimholders shall have any claim against any of the Revolving Credit Agent or the Revolving Credit Claimholders for any
impairment of any subrogation rights herein granted to the Note Claimholders. 
 (b) With respect to the value of any payments or
distributions in cash, property or other assets that any of the Revolving Credit Claimholders or the Revolving Credit Agent actually pays over to the Collateral Agent or the Note Claimholders under the terms of this Agreement, the Revolving Credit
Claimholders and the Revolving Credit Agent shall be subrogated to the rights of the Collateral Agent and the Note Claimholders; provided, however, that the Revolving Credit Agent, on behalf of itself and the Revolving Credit
Claimholders, hereby agrees not to assert or enforce all such rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of Note Obligations has occurred. The Grantors acknowledge and agree that, to the extent
permitted by applicable law, the value of any payments or distributions in cash, property or other assets received by the Revolving Credit Agent or the Revolving Credit Claimholders that are paid over to the Collateral Agent or the Note Claimholders
pursuant to this Agreement shall not reduce any of the Revolving Credit Obligations. Notwithstanding the foregoing provisions of this Section 8.5(b), neither the Revolving Credit Agent nor any of the Revolving Credit Claimholders shall have any
claim against any of the Collateral Agent or the Note Claimholders for any impairment of any subrogation rights herein granted to the Revolving Credit Claimholders. 
  

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 8.6 SUBMISSION TO JURISDICTION; WAIVERS. 
 (a) ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY PARTY ARISING OUT OF OR RELATING HERETO MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT
JURISDICTION IN (I) THE STATE, COUNTY AND CITY OF NEW YORK OR (II) THE STATE OF OHIO, COUNTY OF HAMILTON, AND CITY OF CINCINNATI. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH PARTY, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES,
IRREVOCABLY: 
 (1) ACCEPTS GENERALLY AND UNCONDITIONALLY THE NONEXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS;

 (2) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; 
 (3) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN
RECEIPT REQUESTED, TO THE APPLICABLE PARTY AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH SECTION 8.7; AND 
 (4) AGREES
THAT SERVICE AS PROVIDED IN CLAUSE (3) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE PARTY IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT.

 (b) EACH OF THE PARTIES HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, ANY OF THE REVOLVING CREDIT LOAN DOCUMENTS OR ANY OF THE NOTE DOCUMENTS. EACH OF THE PARTIES HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT, THE REVOLVING CREDIT LOAN DOCUMENTS AND THE NOTE DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 8.6. 
 8.7 Notices. All notices to the Note Claimholders and the Revolving Credit Claimholders permitted or required under this Agreement shall also be
sent to the Collateral Agent and the Revolving Credit Agent, respectively. Unless otherwise specifically provided 

  

 -45- 

 
herein, any notice hereunder shall be in writing and may be personally served, telexed or sent by telefacsimile or United States mail or courier service and
shall be deemed to have been given when delivered in person or by overnight courier service and signed for against receipt thereof, upon receipt of telefacsimile or telex during normal business hours, or three Business Days after depositing it in
the United States certified mails (return receipt requested) with postage prepaid and properly addressed. For the purposes hereof, the addresses of the parties hereto shall be as set forth below each party’s name on the signature pages hereto,
or, as to each party, at such other address as may be designated by such party in a written notice to all of the other parties. 
 8.8
Further Assurances. The Revolving Credit Agent, on behalf of itself and the Revolving Credit Claimholders under the Revolving Credit Loan Documents, and the Collateral Agent, on behalf of itself and the Note Claimholders under the Note
Documents, and the Grantors, agree that each of them shall take such further action and shall execute and deliver such additional documents and instruments (in recordable form, if requested) as the Revolving Credit Agent or the Collateral Agent may
reasonably request to effectuate the terms of and the Lien priorities contemplated by this Agreement. 
 8.9 APPLICABLE LAW. THIS
AGREEMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 8.10
Specific Performance. Each of the Revolving Credit Agent and the Collateral Agent may demand specific performance of this Agreement. The Revolving Credit Agent, on behalf of itself and the Revolving Credit Claimholders, and the Collateral
Agent, on behalf of itself and the Note Claimholders, hereby irrevocably waive any defense based on the adequacy of a remedy at law and any other defense which might be asserted to bar the remedy of specific performance in any action which may be
brought by the Revolving Credit Agent or the Revolving Credit Claimholders or the Collateral Agent or the Note Claimholders, as the case may be. 
 8.11 Headings. Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purpose or be given any substantive effect. 
 8.12 Counterparts. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement or any document or instrument delivered in connection herewith by telecopy
shall be effective as delivery of a manually executed counterpart of this Agreement or such other document or instrument, as applicable. 
 8.13 Authorization. By its signature, each party hereto represents and warrants to the other parties hereto that the individual signing this Agreement on its behalf is duly authorized to execute this Agreement. The Collateral Agent
hereby represents that it is authorized to, and by its signature hereon does, bind the other Note Claimholders to the terms of this Agreement. The Revolving Credit Agent hereby represents that it is authorized to, and by its signature hereon does,
bind the other Revolving Credit Claimholders to the terms of this Agreement. 
  

 -46- 

 8.14 No Third Party Beneficiaries. This Agreement and the rights and benefits hereof shall inure
to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of each of the Agents, the Revolving Credit Claimholders and the Note Claimholders. Nothing in this Agreement shall impair, as
between the Grantors and the Revolving Credit Agent and the Revolving Credit Claimholders, or as between the Grantors and the Collateral Agent and the Note Claimholders, the obligations of the Grantors to pay principal, interest, fees and other
amounts as provided in the Revolving Credit Loan Documents and the Note Documents, respectively. 
 8.15 Provisions Solely to Define
Relative Rights. The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the Revolving Credit Agent and the Revolving Credit Claimholders on the one hand and the Collateral Agent and the
Note Claimholders on the other hand. No Grantor or any other creditor thereof shall have any rights hereunder, and no Grantor may rely on the terms hereof. Nothing in this Agreement is intended to or shall impair the obligations of any Grantor,
which are absolute and unconditional, to pay the Revolving Credit Obligations and the Note Obligations as and when the same shall become due and payable in accordance with their terms. 
 8.16 Marshalling of Assets. The Collateral Agent hereby waives any and all rights to have the Revolving Credit Primary Collateral, or any part
thereof, marshaled upon any foreclosure or other enforcement of the Revolving Credit Agent’s Liens. The Revolving Credit Agent hereby waives any and all rights to have the Note Primary Collateral, or any part thereof, marshaled upon any
foreclosure or other enforcement of the Collateral Agent’s Liens. 
 8.17 Purchase Option. Without prejudice to the enforcement
of the remedies of the Revolving Credit Claimholders, the Revolving Credit Claimholders agree that, at any time following the date on which the Required Revolving Lenders (or the Revolving Credit Agent on their behalf) have declared all or any part
of the Revolving Credit Obligations to be due and payable prior to their stated maturity in accordance with the Revolving Credit Agreement, the Revolving Credit Claimholders will offer the Note Claimholders the option to purchase the aggregate
amount of outstanding Revolving Credit Obligations at par (but without regard to any prepayment penalty or premium), without warranty or representation (other than that such lenders own the claims being sold, free and clear of liens or encumbrances
created by them, but without regard to ultimate enforceability) or recourse. The Note Claimholders shall irrevocably accept or reject such offer within ten business days after the receipt thereof and the parties shall endeavor to close promptly (but
in any event within twenty business days) following communication of any such acceptance. If the Note Claimholders accept such offer, it shall be exercised pursuant to an assignment agreement in the form attached to the Revolving Credit Agreement.
If the Note Claimholders reject such offer, the Revolving Credit Claimholders shall have no further obligations pursuant to this Section and may take any further actions in their sole discretion in accordance with the Revolving Credit Documents and
this Agreement. The Note Claimholders shall have no claim against any Revolving Credit Claimholder under this Section 8.17 for any action taken by any Revolving Credit Claimholder with respect to the Revolving Credit Obligations or any
Collateral therefor prior to the exercise of the purchase of the Revolving Credit Obligations. As a condition to the effectuation of the purchase contemplated by this Section 8.17, the Trustee and Collateral Agent on behalf of the Note
Claimholders shall provide a full and complete release (other than as a result of a breach of the above referenced representations that the lenders own the claims being sold, free and clear of liens or encumbrances created by them, but without
regard to ultimate enforceability) of the Revolving Credit Claimholders in such form as the Revolving Credit Agent shall prescribe, releasing any claims, to the extent related to or arising out of Revolving Credit Obligations. Nothing in this
Section 8.17 shall preclude the Revolving Credit Claimholders from selling or otherwise disposing of the Revolving Credit Obligations, or any portion thereof, to any third party, provided that such third party agrees to be bound by this
Section 8.17. 
 {Signature Pages Follow} 
  

 -47- 

 IN WITNESS WHEREOF, the parties hereto have executed this Intercreditor Agreement as of the date first
written above. 
  

			
	Revolving Credit Agent
	
	 U.S. Bank National Association,
     as Revolving Credit Agent and, solely in
     connection with Section 5.4(f) hereof, as the
     depository institution of the Control
     Deposit Accounts

		
	By:	 	 /s/ Jeffrey A. Kessler

	Name:	 	Jeffrey A. Kessler
	Title:	 	Vice President
	
	Notice Address:
	
	 425 Walnut Street, 14th Floor
 Location
CN-OH-W14S
 Cincinnati, OH 45202
 Attention:
Ms. Suzanne E. Geiger, Senior Vice President

	 Mr. Jeffrey A. Kessler, Vice President
 Telephone: (513) 632-2170 and (513) 632-3271
 Telecopy: (513) 632-2040

 S-1 
 Signature Page to CitiSteel Intercreditor Agreement 

			
	 Collateral Agent
  
 The Bank of New York,

	 as Collateral Agent

		
	 By:
	 	 /s/ Remo Reale

	 Name:
	 	 Remo Reale

	 Title:
	 	 Vice President

	
	Notice Address:
	
	 The Bank of New York

	 101 Barclay Street – 8th Floor West

	 New York, NY 10286

	 Attention: Remo Reale, Vice President

	 Telephone: 212-815-2492

	 Telecopy: 212-815-5707

	
	 Trustee
  
 The Bank of New York,
 as
Trustee

		
	 By:
	 	 /s/ Remo Reale

	 Name:
	 	 Remo Reale

	 Title:
	 	 Vice President

	
	Notice Address:
	
	 The Bank of New York

	 101 Barclay Street – 8th Floor West

	 New York, NY 10286

	 Attention: Remo Reale, Vice President

	 Telephone: 212-815-2492

	 Telecopy: 212-815-5707

 S-2 
 Signature Page to CitiSteel Intercreditor Agreement 

			
	 Acknowledged and Agreed to by:
  
 CitiSteel USA, Inc.

		
	By:	 	 /s/ Allen G. Egner

	Name:	 	 Allen G. Egner

	Title:	 	VP Finance
	
	Notice Address:
	
	4001 Philadelphia Pike
	 Claymont, Delaware19703
 Attention: Allen
Egner
 Telephone: (302) 792-5450
 Telecopy:
(302) 792-1195

	
	CitiSteel PA, Inc.
		
	By:	 	 /s/ Allen G. Egner

	Name:	 	Allen G. Egner
	Title:	 	Secretary
	
	Notice Address:
	
	4001 Philadelphia Pike
	 Claymont, Delaware19703
 Attention: Allen
Egner
 Telephone: (302) 792-5450
 Telecopy:
(302) 792-1195

 S-3 
 Signature Page to CitiSteel Intercreditor Agreement 

			
	H.I.G. Steelco Holdings, Inc.
		
	By:	 	 /s/ Jeffrey Bradley

	Name:	 	Jeffrey Bradley
	Title:	 	Chief Executive Officer
	
	Notice Address:
	
	4001 Philadelphia Pike
	 Claymont, Delaware19703
 Attention: Allen
Egner
 Telephone: (302) 792-5450
 Telecopy:
(302) 792-1195

 S-4 
 Signature Page to CitiSteel Intercreditor Agreement

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