Document:

Indenture

 Exhibit 4.1 

EXECUTION COPY 
  

 
 DIGITAL REALTY TRUST, L.P.

 DIGITAL REALTY TRUST, INC. 

4.50% NOTES DUE 2015 
  

 
 INDENTURE

 Dated as of July 8, 2010 
  

 
  

 
 Deutsche Bank
Trust Company Americas, as Trustee 
  
  

 
  

 TABLE OF CONTENTS 

 

					
	 	    	 	  	Page
	ARTICLE 1
	 DEFINITIONS AND INCORPORATION

BY REFERENCE

			
	Section 1.01	    	Definitions	  	1
	Section 1.02	    	Other Definitions	  	10
	Section 1.03	    	Incorporation by Reference of TIA	  	10
	Section 1.04	    	Rules of Construction	  	11
	
	ARTICLE 2
	ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES
			
	Section 2.01	    	Designation Amount and Issue of Notes	  	11
	Section 2.02	    	Form of Notes	  	11
	Section 2.03	    	Date and Denomination of Notes; Payments of Interest	  	12
	Section 2.04	    	Execution of Notes	  	13
	Section 2.05	    	Registrar and Paying Agent	  	14
	Section 2.06	    	Exchange and Registration of Transfer of Notes; Restrictions on Transfer	  	14
	Section 2.07	    	Mutilated, Destroyed, Lost or Stolen Notes	  	26
	Section 2.08	    	Temporary Notes	  	27
	Section 2.09	    	Cancellation of Notes	  	27
	Section 2.10	    	CUSIP Numbers	  	27
	Section 2.11	    	Issuance of Additional Notes	  	27
	
	ARTICLE 3
	REDEMPTION OF NOTES
			
	Section 3.01	    	Optional Redemption of Notes	  	28
	Section 3.02	    	Notice of Optional Redemption, Selection of Notes	  	28
	Section 3.03	    	Payment of Notes Called for Redemption by the Company	  	29
	Section 3.04	    	Sinking Fund	  	29
	
	ARTICLE 4
	PARTICULAR COVENANTS OF THE COMPANY
			
	Section 4.01	    	Payment of Notes	  	30
	Section 4.02	    	Maintenance of Office or Agency	  	30
	Section 4.03	    	Appointments to Fill Vacancies in Trustee’s Office	  	30
	Section 4.04	    	Provisions as to Paying Agent	  	30
	Section 4.05	    	Existence	  	31
	Section 4.06	    	Reports	  	32
	Section 4.07	    	Stay, Extension and Usury Laws	  	32
	Section 4.08	    	Compliance Certificate	  	33
	Section 4.09	    	Taxes	  	33
	Section 4.10	    	Limitations on Incurrence of Indebtedness	  	33
	Section 4.11	    	Maintenance of Properties	  	34
	Section 4.12	    	Insurance	  	34
	Section 4.13	    	Liquidated Damages Notice	  	35

  

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	ARTICLE 5
	HOLDERS’ LISTS AND REPORTS BY THE TRUSTEE

			
	Section 5.01	    	Holders’ Lists	  	35
	Section 5.02	    	Preservation and Disclosure of Lists	  	35
	Section 5.03	    	Reports by Trustee	  	35
	
	ARTICLE 6
	REMEDIES OF THE TRUSTEE AND THE HOLDERS ON AN EVENT OF DEFAULT
			
	Section 6.01	    	Events of Default	  	36
	Section 6.02	    	Payments of Notes on Default; Suit Therefor	  	38
	Section 6.03	    	Application of Monies Collected by Trustee	  	39
	Section 6.04	    	Proceedings by Holders	  	40
	Section 6.05	    	Proceedings by Trustee	  	40
	Section 6.06	    	Remedies Cumulative and Continuing	  	40
	Section 6.07	    	Direction of Proceedings and Waiver of Defaults by Majority of Holders	  	41
	Section 6.08	    	Notice of Defaults	  	41
	Section 6.09	    	Undertaking to Pay Costs	  	41
	
	ARTICLE 7
	THE TRUSTEE
			
	Section 7.01	    	Duties and Responsibilities of Trustee	  	42
	Section 7.02	    	Reliance on Documents, Opinions, etc	  	43
	Section 7.03	    	No Responsibility for Recitals, etc	  	44
	Section 7.04	    	Trustee, Paying Agents or Registrar May Own Notes	  	44
	Section 7.05	    	Monies to Be Held in Trust	  	44
	Section 7.06	    	Compensation and Expenses of Trustee	  	45
	Section 7.07	    	Officers’ Certificate as Evidence	  	45
	Section 7.08	    	Conflicting Interests of Trustee	  	45
	Section 7.09	    	Eligibility of Trustee	  	46
	Section 7.10	    	Resignation or Removal of Trustee	  	46
	Section 7.11	    	Acceptance by Successor Trustee	  	47
	Section 7.12	    	Succession by Merger	  	47
	Section 7.13	    	Preferential Collection of Claims	  	48
	
	ARTICLE 8
	THE HOLDERS
			
	Section 8.01	    	Action by Holders	  	48
	Section 8.02	    	Proof of Execution by Holders	  	48
	Section 8.03	    	Absolute Owners	  	48
	Section 8.04	    	Company-owned Notes Disregarded	  	49
	Section 8.05	    	Revocation of Consents; Future Holders Bound	  	49
	
	ARTICLE 9
	AMENDMENT, SUPPLEMENT AND WAIVER
			
	Section 9.01	    	Without Consent of Holders of Notes	  	49
	Section 9.02	    	With Consent of Holders of Notes	  	50
	Section 9.03	    	Effect of Supplemental Indenture	  	51
	Section 9.04	    	Notation on Notes	  	52
	Section 9.05	    	Evidence of Compliance of Supplemental Indenture to Be Furnished to Trustee	  	52

  

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	ARTICLE 10
	CONSOLIDATION, MERGER, SALE CONVEYANCE AND LEASE
			
	Section 10.01	    	Company May Consolidate on Certain Terms	  	52
	Section 10.02	    	Company Successor to Be Substituted	  	53
	Section 10.03	    	Guarantor May Consolidate on Certain Terms	  	53
	Section 10.04	    	Guarantor Successor to Be Substituted	  	53
	
	ARTICLE 11
	SATISFACTION AND DISCHARGE OF INDENTURE
			
	Section 11.01	    	Discharge of Indenture	  	54
	Section 11.02	    	Deposited Monies to Be Held in Trust by Trustee	  	54
	Section 11.03	    	Paying Agent to Repay Monies Held	  	55
	Section 11.04	    	Return of Unclaimed Monies	  	55
	Section 11.05	    	Reinstatement	  	55
	
	ARTICLE 12
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE
			
	Section 12.01	    	Option to Effect Legal Defeasance or Covenant Defeasance	  	55
	Section 12.02	    	Legal Defeasance and Discharge	  	55
	Section 12.03	    	Covenant Defeasance	  	56
	Section 12.04	    	Conditions to Legal or Covenant Defeasance	  	57
	Section 12.05	    	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	  	58
	Section 12.06	    	Repayment to Company	  	58
	Section 12.07	    	Reinstatement	  	58
	
	ARTICLE 13
	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
			
	Section 13.01	    	Indenture and Notes Solely Corporate Obligations	  	59
	
	ARTICLE 14
	MEETINGS OF HOLDERS OF NOTES
			
	Section 14.01	    	Purposes for Which Meetings May Be Called	  	59
	Section 14.02	    	Call, Notice and Place of Meetings	  	59
	Section 14.03	    	Persons Entitled to Vote at Meetings	  	60
	Section 14.04	    	Quorum; Action	  	60
	Section 14.05	    	Determination of Voting Rights; Conduct and Adjournment of Meetings	  	60
	Section 14.06	    	Counting Votes and Recording Action of Meetings	  	61
	
	ARTICLE 15
	GUARANTEE
			
	Section 15.01	    	Note Guarantee	  	61
	Section 15.02	    	Execution and Delivery of Note Guarantee	  	63
	Section 15.03	    	Limitation of Guarantor’s Liability; Certain Bankruptcy Events	  	63
	Section 15.04	    	Application of Certain Terms and Provisions to the Guarantor	  	63
	
	ARTICLE 16
	MISCELLANEOUS PROVISIONS
			
	Section 16.01	    	Provisions Binding on Company’s and Guarantor’s Successors	  	64
	Section 16.02	    	Official Acts by Successor Corporation	  	64

  

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	Section 16.03	    	Addresses for Notices, etc	  	64
	Section 16.04	    	Governing Law	  	65
	Section 16.05	    	Evidence of Compliance with Conditions Precedent, Certificates to Trustee	  	65
	Section 16.06	    	Legal Holidays	  	66
	Section 16.07	    	TIA	  	66
	Section 16.08	    	No Security Interest Created	  	66
	Section 16.09	    	Benefits of Indenture	  	66
	Section 16.10	    	Table of Contents, Headings, etc	  	66
	Section 16.11	    	Authenticating Agent	  	66
	Section 16.12	    	Execution in Counterparts	  	67
	Section 16.13	    	Severability	  	67
	
	EXHIBITS
			
	Exhibit A	    	FORM OF NOTE	  	
	Exhibit B	    	FORM OF CERTIFICATE OF TRANSFER	  	
	Exhibit C	    	FORM OF CERTIFICATE OF EXCHANGE	  	
	Exhibit D	    	FORM OF CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR	  	
	Exhibit E	    	FORM OF NOTATION OF GUARANTEE	  	

  

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 INDENTURE dated as of July 8, 2010 among Digital Realty Trust, L.P., a Maryland limited
partnership (the “Company”), Digital Realty Trust, Inc., a Maryland corporation (the “Guarantor” or, in its capacity as general partner of the Company, the “General Partner”), and Deutsche Bank
Trust Company Americas, as trustee (the “Trustee”). 
 The Company, the Guarantor and the Trustee agree as
follows for the benefit of each other and for the equal and ratable benefit of the Holders (as defined below) of the 4.50% Notes due 2015 (the “Notes”): 

ARTICLE 1 

DEFINITIONS AND INCORPORATION 

BY REFERENCE 

Section 1.01 Definitions. 

The terms defined in this Section 1.01 (except as herein otherwise expressly provided or unless the context otherwise requires) for
all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section 1.01. All other terms used in this Indenture that are defined in the TIA (as defined below) or which are by
reference therein defined in the Securities Act (as defined below) (except as herein otherwise expressly provided or unless the context otherwise requires) shall have the respective meanings assigned to such terms in the TIA and in the Securities
Act as in force at the date of the execution of this Indenture. The words “herein,” “hereof,” “hereunder” and words of similar import refer to this Indenture as a whole and not to any particular Article, Section or
other Subdivision. The terms defined in this Article include the plural as well as the singular. 
 “144A Global
Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that
will be issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A. 

“Acquired Indebtedness” means Indebtedness of a Person (a) existing at the time such Person becomes a Subsidiary or
(b) assumed in connection with the acquisition of assets from such Person, in each case, other than Indebtedness Incurred in connection with, or in contemplation of, such Person becoming a Subsidiary or such acquisition. Acquired Indebtedness
shall be deemed to be Incurred on the date of the related acquisition of assets from any Person or the date the acquired Person becomes a Subsidiary. 

“Additional Notes” means additional Notes (other than the Initial Notes) issued under this Indenture in accordance with
Sections 2.04, 2.11 and 4.10 hereof, as part of the same series as the Initial Notes. 
 “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,” when used with respect to
any specified Person means the power to direct or cause the direction of the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise, and the terms
“controlling” and “controlled” have meanings correlative to the foregoing. 
 “Agent” means
any Registrar, co-registrar, Paying Agent or additional paying agent. 
  

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

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

 “Board of Directors” means the board of directors of the General Partner or a committee of such board duly
authorized to act for it hereunder. 
 “Broker-Dealer” has the meaning set forth in the Registration Rights
Agreement. 
 “Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday, other than a day on
which banking institutions in The City of New York are authorized or obligated by law or executive order to close. 

“Capitalization Rate” means 9.0%. 

“Clearstream” means Clearstream Banking, S.A. 

“Company” means Digital Realty Trust, L.P., a Maryland limited partnership, and, subject to the provisions of Article
10, shall include its successors and assigns. 
 “Consolidated EBITDA” means, for any period of time, without
duplication, consolidated net income (loss) of Digital Realty Trust, L.P. and its Consolidated Subsidiaries plus amounts which have been deducted and minus amounts which have been added for, without duplication, (a) Interest Expense,
(b) depreciation and amortization and other non-cash items deducted in arriving at net income (loss), (c) provision for taxes based on income or profits, (d) non-recurring or other unusual items, as determined by the Company in good
faith (including, without limitation, all prepayment penalties and all costs or fees incurred in connection with any debt financing or amendment thereto, acquisition, disposition, recapitalization or similar transaction (regardless of whether such
transaction is completed)), (e) extraordinary items, (f) noncontrolling interests, (g) the income or expense attributable to transactions involving derivative instruments that do not qualify for hedge accounting in accordance with
GAAP, and (h) gains or losses on dispositions of depreciable real estate investments, property valuation losses and impairment charges; provided, however, that in no event will Consolidated EBITDA include (x) net income (loss)
(whether pursuant to the equity method of accounting or otherwise) on account of any of the Company’s or its Consolidated Subsidiaries’ unconsolidated subsidiaries and other partially owned entities or (y) net income (loss) generated
from the Company’s or its Consolidated Subsidiaries’ real property under construction or Redevelopment Properties; provided, further, that all amounts for such period shall be reasonably determined by the Company in accordance with
GAAP to the extent GAAP is applicable. Consolidated EBITDA will be adjusted, without duplication, to give pro forma effect: (i) in the case of any assets having been placed in service or removed from service from the beginning of the period to
the date of determination, to include or exclude, as the case may be, any Consolidated EBITDA earned or eliminated as a result of the placement of the assets in service or removal of the assets from service as if the placement of the assets in
service or removal of the assets from service occurred at the beginning of the period; and (ii) in the case of any acquisition or disposition of any asset or group of assets from the beginning of the period to the date of determination,
including, without limitation, by merger, or stock or asset purchase or sale, to include or exclude, as the case may be, any Consolidated EBITDA earned or eliminated as a result of the acquisition or disposition of those assets as if the acquisition
or disposition occurred at the beginning of the period. 
  

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 “Consolidated Financial Statements” means, with respect to any Person,
collectively, the consolidated financial statements and notes to those financial statements, of that Person and its Consolidated Subsidiaries prepared in accordance with GAAP. 

“Consolidated Subsidiary” means each Subsidiary of Digital Realty Trust, L.P. that is consolidated in the Consolidated
Financial Statements of Digital Realty Trust, L.P. 
 “Corporate Trust Office” or other similar term, means the
designated office of the Trustee at which, at any particular time, its corporate trust business as it relates to this Indenture shall be administered, which office is, at the date as of which this Indenture is dated, located at 60 Wall Street, MS
NYC60-2710, New York, New York 10005, or at any other time at such other address as the Trustee may designate from time to time by notice to the Issuer. 

“CUSIP” means the Committee on Uniform Securities Identification Procedures. 

“Custodian” means the Trustee, as custodian with respect to the Notes in global form, or any successor entity thereto.

 “Default” means any event that is, or after notice or with the passage of time or the giving of notice or
both would be, an Event of Default. 
 “Defaulted Interest” has the meaning specified in Section 2.03.

 “Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued in
accordance with Section 2.06 hereof, substantially in the form of Exhibit A hereto except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the Global Note” attached
thereto. 
 “Depositary” means the clearing agency registered under the Exchange Act that is designated to act
as the Depository for the Global Notes. DTC shall be the initial Depository, until a successor shall have been appointed and become such pursuant to the applicable provisions of this Indenture, and thereafter, “Depository” shall mean or
include such successor. 
 “DTC” means The Depository Trust Company. 

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

“Event of Default” means any event specified in Section 6.01 as an Event of Default. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder. 
 “Exchange Notes” means the Notes issued in the Exchange Offer pursuant to Section 2.06(f)
hereof. 
 “Exchange Offer” has the meaning set forth in the Registration Rights Agreement. 

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

  

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 “GAAP” means generally accepted accounting principles in the United States
of America as in effect from time to time. 
 “General Partner” means the corporation named as the
“General Partner” in the first paragraph of this Indenture, and, subject to the provisions of Article 10, shall include its successors and assigns. 

“Global Note Legend” means the legend set forth in Section 2.06(g)(2) hereof, which is required to be placed on all
Global Notes issued under this Indenture. 
 “Global Notes” means, individually and collectively, each of the
Restricted Global Notes and the Unrestricted Global Notes deposited with or on behalf of and registered in the name of the Depository or its nominee, substantially in the form of Exhibit A hereto and that bears the Global Note Legend and that has
the “Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance with this Indenture. 

“Government Securities” means direct obligations of, or obligations guaranteed by, the United States of America, and the
payment for which the United States pledges its full faith and credit. 
 “Guarantee” means the full and
unconditional guarantee provided by the Guarantor in respect of the Notes as made applicable to the Notes in accordance with the provisions of Section 15.01 hereof. 

“Guarantor” means Digital Realty Trust, Inc., a Maryland corporation, and its successors and assigns. 

“Holder” means a Person in whose name a Note is registered. 

“IAI Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and
the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of the Notes sold to Institutional Accredited
Investors. 
 “Incur” means, with respect to any Indebtedness or other obligation of any Person, to
create, assume, guarantee or otherwise become liable in respect of the Indebtedness or other obligation, and “Incurrence” and “Incurred” have meanings correlative to the foregoing. Indebtedness or other obligation of the Company
or any Subsidiary of the Company will be deemed to be Incurred by the Company or such Subsidiary whenever the Company or such Subsidiary shall create, assume, guarantee or otherwise become liable in respect thereof. Indebtedness or other obligation
of a Subsidiary of the Company existing prior to the time it became a Subsidiary of the Company will be deemed to be Incurred upon such Subsidiary becoming a Subsidiary of the Company; and Indebtedness or other obligation of a Person existing prior
to a merger or consolidation of such Person with the Company or any Subsidiary of the Company in which such Person is the successor to the Company or such Subsidiary will be deemed to be Incurred upon the consummation of such merger or
consolidation. Any issuance or transfer of capital stock that results in Indebtedness constituting Intercompany Indebtedness being held by a Person other than the Company, the Guarantor or any Consolidated Subsidiary or any sale or other transfer of
any Indebtedness constituting Intercompany Indebtedness to a Person that is not the Company, the Guarantor or any Consolidated Subsidiary, will be deemed, in each case, to be an Incurrence of Indebtedness that is not Intercompany Indebtedness at the
time of such issuance, transfer or sale, as the case may be. 
 “Indebtedness” of the Company, the
Guarantor or any Consolidated Subsidiary means, without duplication, any of the Company’s indebtedness or that of any Consolidated Subsidiary, whether or not contingent, in respect of: (a) borrowed money evidenced by bonds, notes,
debentures or similar 
  

 4 

 
instruments whether or not such indebtedness is secured by any lien existing on property owned by the Company or any Consolidated Subsidiary; (b) indebtedness for borrowed money of a Person
other than the Company or a Consolidated Subsidiary which is secured by any lien on property owned by the Company, the Guarantor or any Consolidated Subsidiary, to the extent of the lesser of (i) the amount of indebtedness so secured, and
(ii) the fair market value of the property subject to such lien; (c) the reimbursement obligations, contingent or otherwise, in connection with any letters of credit actually issued or amounts representing the balance deferred and unpaid
of the purchase price of any property or services, except any such balance that constitutes an accrued expense or trade payable; or (d) any lease of property by the Company, the Guarantor or any Consolidated Subsidiary as lessee which is
reflected on the Company’s consolidated balance sheet as a capitalized lease in accordance with generally accepted accounting principles. Indebtedness also includes, to the extent not otherwise included, any obligation by the Company, the
Guarantor or any Consolidated Subsidiary to be liable for, or to pay, as obligor, guarantor or otherwise (other than for purposes of collection in the ordinary course of business), indebtedness of another Person (other than the Company or any
Consolidated Subsidiary) of the type described in clauses (a)-(d) of this definition. 
 “Indenture” means
this Indenture, as amended or supplemented from time to time. 
 “Indirect Participant” means a Person who
holds a beneficial interest in a Global Note through a Participant. 
 “Initial Notes” means the first
$375,000,000 aggregate principal amount of Notes issued under this Indenture on the date hereof. 
 “Institutional
Accredited Investor” means an institution that is an “accredited investor” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who are not also QIBs. 

“Intercompany Indebtedness” means Indebtedness to which the only parties are any of the Company, the Guarantor and any
Consolidated Subsidiary; provided, however, that with respect to any such Indebtedness of which the Company or the Guarantor is the borrower, such Indebtedness is subordinate in right of payment to the Notes. 

“interest” means, when used with reference to the Notes, any interest payable under the terms of the Notes, including
Liquidated Damages, if any, payable under the terms of the Registration Rights Agreement. 
 “Interest Expense”
means, for any period of time, consolidated interest expense for such period of time, whether paid, accrued or capitalized, without deduction of consolidated interest income, of the Company and the Consolidated Subsidiaries, including, without
limitation or duplication, or, to the extent not so included, with the addition of (a) the portion of any rental obligation in respect of any capital lease obligation allocable to interest expense in accordance with GAAP and (b) the
amortization of Indebtedness discounts, but excluding prepayment penalties, in all cases as reflected in the applicable Consolidated Financial Statements. 

“Letter of Transmittal” means the letter of transmittal to be prepared by the Company and sent to all Holders of the
Notes for use by such Holders in connection with the Exchange Offer. 
 “Liquidated Damages” means all
liquidated damages then owing pursuant to the Registration Rights Agreement. 
  

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 “Make-Whole Premium” means, with respect to any Note redeemed before the
90th day prior to the Maturity Date, the excess, if any, of (a) the aggregate present value as of the date of such redemption of each dollar of principal of the Note being redeemed or paid and the amount of interest (exclusive of interest
accrued to the date of redemption) that would have been payable in respect of such dollar if such redemption had been made on the 90th day prior to the Maturity Date, determined by discounting, on a semiannual basis, such principal and interest at
the Reinvestment Rate (determined on the third Business Day preceding the date such notice of redemption is given) from the respective dates on which such principal and interest would have been payable if such redemption had been made on the 90th
day prior to the Maturity Date; over (b) the principal amount of such Note. 
 “Maturity Date” means
July 15, 2015. 
 “Non-U.S. Person” means a Person who is not a U.S. Person. 

“Note Guarantee” means the Guarantee by the Guarantor of the Company’s obligations under this Indenture and the
Notes, executed pursuant to the provisions of this Indenture. 
 “Notes” has the meaning assigned to it in the
preamble to this Indenture. The Initial Notes and the Additional Notes shall be treated as a single class for all purposes under this Indenture, and unless the context otherwise requires, all references to the Notes shall include the Initial Notes
and any Additional Notes. 
 “Offering Memorandum” means the Company’s and the Guarantor’s offering
memorandum dated June 30, 2010 relating to the Notes unconditionally guaranteed by the Guarantor. 
 “Officer”
means any person holding any of the following positions with the General Partner: the Chairman of the Board, the Chief Executive Officer, the President, any Vice President (whether or not designated by a number or numbers or word or words added
before or after the title “Vice President”), the Chief Financial Officer, the Treasurer, the General Counsel and the Secretary. 

“Officers’ Certificate,” when used with respect to the Company, means a certificate signed by any two Officers or
by one such Officer and any Assistant Treasurer or Assistant Secretary of the General Partner.  
 “Opinion of
Counsel” means an opinion in writing signed by legal counsel, who may be an employee of or counsel to the Issuer, or other counsel reasonably acceptable to the Trustee. 

“outstanding”, when used with reference to Notes and subject to the provisions of Section 8.04 hereof, means, as of
any particular time, all Notes authenticated and delivered by the Trustee under this Indenture, except: 
 (a) Notes theretofore
canceled by the Trustee or delivered to the Trustee for cancellation; 
 (b) Notes, or portions thereof, (i) for the
redemption of which monies in the necessary amount shall have been deposited in trust with the Trustee or with any Paying Agent (other than the Company or the Guarantor) or (ii) which shall have been otherwise discharged in accordance with
Article 11; 
 (c) Notes in lieu of which, or in substitution for which, other Notes shall have been authenticated and delivered
pursuant to the terms of Section 2.07; and 
  

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 (d) Notes paid or redeemed pursuant to Article 3. 

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

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

“Predecessor Note” of any particular Note means every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note, and, for the purposes of this definition, any Note authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen Note shall be deemed to evidence the same debt as the lost, destroyed or
stolen Note that it replaces. 
 “premium” means any premium payable under the terms of the Notes. 

“Private Placement Legend” means the legend set forth in Section 2.06(g)(1) hereof to be placed on all Notes issued
under this Indenture except where otherwise permitted by the provisions of this Indenture. 
 “QIB” means a
“qualified institutional buyer” as defined in Rule 144A. 
 “Record Date” has the meaning specified
in Section 2.03. 
 “Redemption Date” means, with respect to any Note or portion thereof to be redeemed in
accordance with the provisions of Section 3.01 hereof, the date fixed for such redemption in accordance with the provisions of Section 3.01 hereof. 

“Redemption Price” has the meaning provided in Section 3.01 hereof. 

“Redevelopment Property” means a property owned by the Company or a Consolidated Subsidiary (a) where the commenced
leased square footage is less than 60% of the sum of net rentable square feet and redevelopment space, with reasonable adjustments to leased square footage determined in good faith by the Company, including adjustments for available power, required
support space and common area and (b) that the Company reasonably characterizes as held in whole or in part for redevelopment. 

“Registration Rights Agreement” means the Registration Rights Agreement, dated as of the date hereof, among the Company,
the Guarantor and the other parties named on the signature pages thereof, as such agreement may be amended, modified or supplemented from time to time and, with respect to any Additional Notes, one or more registration rights agreements among the
Company, the Guarantor and the other parties thereto, as such agreement(s) may be amended, modified or supplemented from time to time, relating to rights given by the Company to the purchasers of Additional Notes to register such Additional Notes
under the Securities Act. 
 “Regulation S” means Regulation S promulgated under the Securities Act.

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

 7 

 “Reinvestment Rate” means 0.40 percent (0.40%), plus the arithmetic mean of
the yields under the respective headings “This Week” and “Last Week” published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available prior to the date of determining the
make-whole premium (or if such statistical release is no longer published, any such other reasonably comparable index which shall be designated by the Company) under the caption “Treasury Constant Maturities” for the maturity (rounded to
the nearest month) corresponding to the then remaining maturity of the Notes. If no maturity exactly corresponds to such maturity of the Notes, the applicable Reinvestment Rate will be obtained by linear interpolation (calculated to the nearest
one-twelfth of a year) from the yields for the two published maturities most closely corresponding to such maturity of the Notes. 

“Responsible Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of
the Trustee 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 such matter is referred because of such person’s knowledge of or
familiarity with the particular subject. 
 “Restricted Definitive Note” means a Definitive Note bearing the
Private Placement Legend. 
 “Restricted Global Note” means a Global Note bearing the Private Placement Legend.

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

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

 “Rule 144” means Rule 144 promulgated under the Securities Act as it may be amended from time to time
hereafter. 
 “Rule 144A” means Rule 144A promulgated under the Securities Act. 

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

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

“SEC” means the Securities and Exchange Commission. 

“Secured Debt” means, as of any date, that portion of Total Outstanding Debt as of that date that is secured by a
mortgage, trust deed, deed of trust, deeds to secure Indebtedness, pledge, security interest, assignment for collateral purposes, deposit arrangement, or other security agreement, excluding any right of setoff but including, without limitation, any
conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, and any other like agreement granting or conveying a security interest. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, as
in effect from time to time. 
 “Shelf Registration Statement” means the Shelf Registration Statement as
defined in the Registration Rights Agreement. 
  

 8 

 “Significant Subsidiary” has the meaning specified in Section 6.01.

 “Stated Maturity,” with respect to any Note or any installment of principal thereof or interest thereon,
means the date established by or pursuant to this Indenture or such Note as the fixed date on which the principal of such Note or such installment of principal or interest is due and payable. 

“Subsidiary” means, with respect to any Person, (a) any corporation, association or other business entity of which
more than 50% of the total voting power of shares of capital stock or other equity interest entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or
controlled, directly or indirectly, by such Person or one or more of the other subsidiaries of that Person (or a combination thereof) and (b) any partnership (i) the sole general partner or managing general partner of which is such Person
or a subsidiary of such Person or (ii) the only general partners of which are such Person or of one or more subsidiaries of such Person (or any combination thereof). 

“TIA” means the Trust Indenture Act of 1939, as amended, as it was in force at the date of this Indenture;
provided that if the Trust Indenture Act of 1939 is amended after the date hereof, the term “TIA” shall mean, to the extent required by such amendment, the Trust Indenture Act of 1939 as so amended. 

“Total Assets” as of any date means the sum, without duplication, of (a) Consolidated EBITDA for the most recent
quarterly period covered in the annual or quarterly report most recently furnished to Holders or filed with the SEC, as the case may be and in accordance with Section 4.06 hereof, prior to such time, annualized (i.e., multiplied by four (4)),
capitalized at the Capitalization Rate, (b) the undepreciated cost basis of the real property of the Company and the Consolidated Subsidiaries under construction and Redevelopment Property as of the end of the quarterly period used for purposes
of clause (a) above, in each case as determined by the Company in good faith, and (c) for all assets of the Company and the Consolidated Subsidiaries other than the assets referred to in (a) and (b) above, the undepreciated book
value as determined in accordance with GAAP (but excluding accounts receivable and intangible assets). 
 “Total
Outstanding Debt” means, as of any date, the sum, without duplication, of (a) the aggregate principal amount of all outstanding Indebtedness of the Company as of that date, excluding Intercompany Indebtedness, and (b) the
aggregate principal amount of all outstanding Indebtedness of the Consolidated Subsidiaries as of that date, excluding Intercompany Indebtedness. 

“Total Unencumbered Assets” means, as of any time, the sum of (a) Unencumbered Consolidated EBITDA for the most
recent quarterly period covered in the annual or quarterly report most recently furnished to Holders or filed with the SEC, as the case may be and in accordance with Section 4.06 hereof, prior to such time, annualized (i.e., multiplied by four
(4)), capitalized at the Capitalization Rate, and (b) to the extent not subject to any Secured Debt, the value of the assets described in clauses (b) and (c) of the definition of Total Assets. 

“Trustee” means Deutsche Bank Trust Company Americas and its successors and any corporation resulting from or surviving
any consolidation or merger to which it or its successors may be a party and any successor trustee at the time serving as successor trustee hereunder. 

“Unencumbered Consolidated EBITDA” means, for any quarter, Consolidated EBITDA for the most recent quarterly period
covered in the annual or quarterly report most recently furnished to Holders or filed with the SEC, as the case may be and in accordance with Section 4.06 hereof, prior to the time of determination less any portion thereof attributable to any
properties or assets subject to any Secured Debt, as determined in good faith by the Company. 
  

 9 

 “Unrestricted Definitive Note” means a Definitive Note that does not bear
and is not required to bear the Private Placement Legend. 
 “Unrestricted Global Note” means a Global Note
that does not bear and is not required to bear the Private Placement Legend. 
 “Unsecured Debt” means that
portion of Total Outstanding Debt that is not Secured Debt. 
 “U.S. Person” means a U.S. Person as defined in
Rule 902(k) promulgated under the Securities Act. 
 Section 1.02 Other Definitions. 

 

			
	 Term
	  	Defined in
Section
	 “Authentication Order”
	  	2.01
	 “Benefited Party”
	  	15.01
	 “Covenant Defeasance”
	  	12.03
	 “Guarantee Obligations”
	  	15.01
	 “Legal Defeasance”
	  	12.02
	 “Liquidated Damages Notice”
	  	4.13
	 “Paying Agent”
	  	2.05
	 “Register”
	  	2.05
	 “Registrar”
	  	2.05

 Section 1.03 Incorporation by
Reference of TIA. 
 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: 

“indenture securities” means the Notes; 

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

“indenture to be qualified” means this Indenture; 

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

“obligor” on the Notes and the Note Guarantee means the Company and the Guarantor, respectively, and any successor
obligor upon the Notes and the Note Guarantee, respectively. 
 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 have the meanings so assigned to them. 
  

 10 

 Section 1.04 Rules of Construction. 

Unless the context otherwise requires: 

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

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

(3) “or” is not exclusive; 

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

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

(6) provisions apply to successive events and transactions; and 

(7) references to sections of or rules under the Securities Act will be deemed to include substitute, replacement of
successor sections or rules adopted by the SEC from time to time. 
 ARTICLE 2 

ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES 

Section 2.01 Designation Amount and Issue of Notes. 

The Notes shall be designated as “4.50% Notes due 2015.” Upon the execution of this Indenture, and from time to time thereafter,
Notes may be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver Notes upon a written order of the Company (an “Authentication Order”), such order signed
by two Officers or by an Officer and either an Assistant Treasurer of the General Partner or any Assistant Secretary of the General Partner, without any further action by the Company hereunder. 

The aggregate principal amount of Notes which may be authenticated and delivered under this Indenture is unlimited; provided that
upon initial issuance, the aggregate principal amount of Notes outstanding shall not exceed $375,000,000, except as provided in Sections 2.07 and 2.08. The Company may, without notice to or consent of the Holders, issue Additional Notes from time to
time in the future in an unlimited principal amount, subject to compliance with the terms of this Indenture. 
 Section 2.02 Form of
Notes. 
 Notes issued in global form will be substantially in the form of Exhibit A hereto (including the Global Note Legend
thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in definitive form will be substantially in the form of Exhibit A hereto (but without the Global Note Legend thereon and without the
“Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note will represent such of the outstanding Notes as will be specified therein and each shall provide that it represents the aggregate principal amount
of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any
endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented thereby will be made by the Trustee or the Custodian, at the direction of the Trustee. The terms and
provisions contained in the form of Note 
  

 11 

 
attached as Exhibit A hereto shall constitute, and are hereby expressly made, a part of this Indenture and, to the extent applicable, the Company and the Trustee, by their execution and delivery
of this Indenture, expressly agree to such terms and provisions and to be bound thereby. 
 Any of the Notes may have such
letters, numbers or other marks of identification and such notations, legends, endorsements or changes as the officers executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the
provisions of this Indenture, or as may be required by the Custodian, the Depository or as may be required for the Notes to be tradable on any market existing or developed for trading of securities pursuant to Rule 144A or as may be required to
comply with any applicable law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange or automated quotation system on which the Notes may be listed, or to conform to usage, or to indicate any
special limitations or restrictions to which any particular Notes are subject. 
 Section 2.03 Date and Denomination of Notes; Payments
of Interest. 
 The Notes shall be issuable in registered form without coupons in denominations of $1,000 principal amount
and integral multiples thereof. Each Note shall be dated the date of its authentication and shall bear interest from the date specified on the face of the form of Note attached as Exhibit A hereto. Interest on the Notes shall be computed on the
basis of a 360-day year consisting of twelve 30-day months. 
 The Person in whose name any Note (or its Predecessor Note) is
registered on the Register at 5:00 p.m., New York City time, on any Record Date with respect to any interest payment date shall be entitled to receive the interest payable on such interest payment date. Interest shall be payable at the office of the
Company maintained by the Company for such purposes, which shall initially be an office or agency of the Trustee. The Company shall pay interest (i) on any Notes in certificated form by check mailed to the address of the Person entitled thereto
as it appears in the Register; provided, however, that a Holder of any Notes in certificated form in the aggregate principal amount of more than $2.0 million may specify by written notice to the Company that it pay interest by wire transfer
of immediately available funds to the account specified by the Holder in such notice, or (ii) on any Global Note by wire transfer of immediately available funds to the account of the Depository or its nominee. If a payment date is not a
Business Day, payment shall be made on the next succeeding Business Day, and no additional interest shall accrue thereon. The term “Record Date” with respect to any interest payment date shall mean the January 1 or July 1
preceding the applicable January 15 or July 15 interest payment date, respectively. 
 Any interest on any Note which
is payable, but is not punctually paid or duly provided for, on any January 15 or July 15 (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder registered as such on the relevant Record
Date, and such Defaulted Interest shall be paid by the Company, at its election in each case, as provided in clause (a) or (b) below: 

(1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Notes (or their
respective Predecessor Notes) are registered at 5:00 p.m., New York City time, on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the
amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment (which shall be not less than twenty-five (25) calendar days after the receipt by the Trustee of such notice, unless the Trustee shall consent to
an earlier date), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such
deposit on or prior to the date of the proposed payment, such money when deposited to 
  

 12 

 
be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such
Defaulted Interest which shall be not more than fifteen (15) calendar days and not less than ten (10) calendar days prior to the date of the proposed payment, and not less than ten (10) calendar days after the receipt by the Trustee
of the notice of the proposed payment (unless the Trustee shall consent to an earlier date). The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the
proposed payment of such Defaulted Interest and the special record date therefor to be sent by electronic transmission or mailed, first-class postage prepaid, to each Holder at its address as it appears in the Register, not less than ten
(10) calendar days prior to such special record date (unless, the Trustee shall consent to an earlier date). Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been so mailed, such Defaulted
Interest shall be paid to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at 5:00 p.m., New York City time, on such special record date and shall no longer be payable pursuant to the following clause
(b) of this Section 2.03. 
 (2) The Company may make payment of any Defaulted Interest in any other
lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance, and upon such notice as may be required by such exchange or automated
quotation system, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 

Section 2.04 Execution of Notes. 

Notes shall be signed in the name and on behalf of the Company by the manual or facsimile signature of an Officer. The Trustee will, upon
receipt of an Authentication Order, authenticate Notes for original issue that may be validly issued under this Indenture, including any Additional Notes. The aggregate principal amount of Notes outstanding at any time may not exceed the aggregate
principal amount of Notes authorized for issuance by the Company pursuant to one or more Authentication Orders, except as provided in Sections 2.07 and 2.08 hereof. 

Only such Notes as shall bear thereon a certificate of authentication substantially in the form set forth on the form of Notes attached
as Exhibit A hereto, executed manually by the Trustee (or an authenticating agent appointed by the Trustee as provided by Section 16.11), shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such
certificate by the Trustee (or such an authenticating agent) upon any Note executed by the Company shall be conclusive evidence that the Note so authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled to the
benefits of this Indenture. 
 In case any Officer who shall have signed any of the Notes shall cease to be such Officer before
the Notes so signed shall have been authenticated and delivered by the Trustee, or disposed of by the Company, such Notes nevertheless may be authenticated and delivered or disposed of as though the person who signed such Notes had not ceased to be
such Officer, and any Note may be signed on behalf of the Company by such persons as, at the actual date of the execution of such Note, shall be the proper Officers, although at the date of the execution of this Indenture any such person was not
such an Officer. 
  

 13 

 Section 2.05 Registrar and Paying Agent. 

The Company will maintain an office or agency where Notes may be presented for registration of transfer or for exchange
(“Registrar”) and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar will keep a register of the Notes and of their transfer and exchange (the “Register”).
The Company may appoint one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes any additional paying agent. The Company may change
any Paying Agent or Registrar without notice to any Holder. The Company will notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Company fails to appoint or maintain another entity as Registrar or
Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 
 The
Company initially appoints the DTC to act as Depositary with respect to the Global Notes. 
 The Company initially appoints the
Trustee to act as the Registrar and Paying Agent and to act as Custodian with respect to the Global Notes. 
 The Company will
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 or the Trustee all money held by the Paying Agent for the payment of principal, premium or Liquidated Damages,
if any, or interest on the Notes, 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) will have no further liability for the money. If the Company or a
Subsidiary acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee will
serve as Paying Agent for the Notes. 
 Section 2.06 Exchange and Registration of Transfer of Notes; Restrictions on Transfer.

 (a) Transfer and Exchange of Global Notes. A Global Note may not be transferred except as a whole by the Depositary
to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. All Global Notes
will be exchanged by the Company for Definitive Notes if: 
 (1) the Company delivers to the Trustee notice from
the Depositary that it is unwilling or unable to continue to act as Depositary or that it is no longer a clearing agency registered under the Exchange Act and, in either case, a successor Depositary is not appointed by the Company within 120 days
after the date of such notice from the Depositary; 
 (2) the Company in its sole discretion
determines that the Global Notes (in whole but not in part) should be exchanged for Definitive Notes and delivers a written notice to such effect to the
Trustee; or 

(3) upon request from the Depositary if there has occurred and is continuing a Default or Event of Default with respect to
the Notes. 
 Upon the occurrence of either of the preceding events in (1) or (2) above, Definitive Notes shall be
issued in such names as the Depositary shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.08 hereof. Every Note authenticated and delivered in exchange for, or in lieu
of, a Global Note or any portion thereof, pursuant to this Section 2.06 or Section 2.07 or 2.08 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged for another Note other than
as provided in this Section 2.06(a), however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.06(b), (c) or (f) hereof. 

 

 14 

 (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer
and exchange of beneficial interests in the Global Notes will be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in the Restricted Global Notes will be subject
to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Notes also will require compliance with either subparagraph (1) or (2) below, as
applicable, as well as one or more of the other following subparagraphs, as applicable: 
 (1) Transfer of
Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with
the transfer restrictions set forth in the Private Placement Legend; provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in the Regulation S Global Note may not be made to a U.S. Person
or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Beneficial interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted
Global Note. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.06(b)(1). 

(2) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and
exchanges of beneficial interests that are not subject to Section 2.06(b)(1) above, the transferor of such beneficial interest must deliver to the Registrar either: 

(A) both: 

(i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the
Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

(ii) instructions given in accordance with the Applicable Procedures containing information regarding the Participant
account to be credited with such increase; or 
 (B) both: 

(i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the
Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

(ii) instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such
Definitive Note shall be registered to effect the transfer or exchange referred to in (b)(1) above. 
  

 15 

 Upon consummation of an Exchange Offer by the Company in accordance with Section 2.06(f) hereof, the
requirements of this Section 2.06(b)(2) shall be deemed to have been satisfied upon receipt by the Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of such beneficial interests in the Restricted
Global Notes. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the
principal amount of the relevant Global Note(s) pursuant to Section 2.06(h) hereof. 
 (3) Transfer of
Beneficial Interests to Another Restricted Global Note. A beneficial interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the
transfer complies with the requirements of Section 2.06(b)(2) above and the Registrar receives the following: 

(A) if the transferee will take delivery in the form of a beneficial interest in the 144A Global Note, then the transferor
must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 

(B) if the transferee will take delivery in the form of a beneficial interest in the Regulation S Global Note, then the
transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 

(C) if the transferee will take delivery in the form of a beneficial interest in the IAI Global Note, then the transferor
must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable. 

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

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

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration
Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following:

 (i) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such
beneficial interest for a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(a) thereof; or 

 

 16 

 (ii) if the holder of such beneficial interest in a Restricted Global Note
proposes to transfer such beneficial interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the
certifications in item (4) thereof; 
 and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

If any such transfer is effected pursuant to subparagraph (B) or (D) above at a time when an Unrestricted Global Note has not
yet been issued, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.04 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the
aggregate principal amount of beneficial interests transferred pursuant to subparagraph (B) or (D) above. 

Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the
form of, a beneficial interest in a Restricted Global Note. 
 (c) Transfer or Exchange of Beneficial Interests for
Definitive Notes. 
 (1) Beneficial Interests in Restricted Global Notes to Restricted Definitive
Notes. If any holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form
of a Restricted Definitive Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if
the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item
(2)(a) thereof; 
 (B) if such beneficial interest is being transferred to a QIB in accordance with Rule
144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 

(C) if such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with
Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 

(D) if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 
  

 17 

 (E) if such beneficial interest is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including
the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable; 
 (F)
if such beneficial interest is being transferred to the Company or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 

(G) if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities
Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof, 
 the Trustee shall
cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(h) hereof, and the Company shall execute and the Trustee shall authenticate and deliver to the Person designated in the
instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names and in
such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Definitive
Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c)(1) shall bear the Private Placement Legend and shall
be subject to all restrictions on transfer contained therein. 
 (2) Beneficial Interests in Restricted Global
Notes to Unrestricted Definitive Notes. A holder of a beneficial interest in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes
delivery thereof in the form of an Unrestricted Definitive Note only if: 
 (A) such exchange or transfer is
effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of
Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration
Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following:

 (i) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such
beneficial interest for an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 

 

 18 

 (ii) if the holder of such beneficial interest in a Restricted Global Note
proposes to transfer such beneficial interest to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item
(4) thereof; 
 and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the Applicable
Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 (3)
Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such
beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then, upon satisfaction of the conditions set forth in Section 2.06(b)(2) hereof, the Trustee will cause the aggregate principal amount of the
applicable Global Note to be reduced accordingly pursuant to Section 2.06(h) hereof, and the Company will execute and the Trustee will authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate
principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(3) will be registered in such name or names and in such authorized denomination or denominations as the holder of such
beneficial interest requests through instructions to the Registrar from or through the Depositary and the Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the Persons in whose names such Notes are so registered.
Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(3) will not bear the Private Placement Legend. 

(d) Transfer and Exchange of Definitive Notes for Beneficial Interests. 

(1) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted
Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global
Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the Holder of such Restricted
Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof; 

(B) if such Restricted Definitive Note is being transferred to a QIB in accordance with Rule 144A, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C) if such
Restricted Definitive Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item
(2) thereof; 
 (D) if such Restricted Definitive Note is being transferred pursuant to an exemption from
the registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

 

 19 

 (E) if such Restricted Definitive Note is being transferred to an
Institutional Accredited Investor in reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B
hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable; 

(F) if such Restricted Definitive Note is being transferred to the Company or any of its Subsidiaries, a certificate to
the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (G) if
such Restricted Definitive Note is being transferred pursuant to an effective registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof,

 the Trustee will cancel the Restricted Definitive Note, increase or cause to be increased the aggregate principal amount of,
in the case of clause (A) above, the appropriate Restricted Global Note, in the case of clause (B) above, the 144A Global Note, in the case of clause (C) above, the Regulation S Global Note, and in all other cases, the IAI Global
Note. 
 (2) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of
a Restricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted
Global Note only if: 
 (A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance
with the Registration Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person
participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration
Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following:

 (i) if the Holder of such Definitive Notes proposes to exchange such Notes for a beneficial interest in the
Unrestricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 

(ii) if the Holder of such Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof
in the form of a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

 

 20 

 and, in each such case set forth in this subparagraph (D), if the Registrar so requests or
if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained
herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

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

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

If any such exchange or transfer from a Definitive Note to a beneficial interest is effected pursuant to subparagraphs
(2)(B), (2)(D) or (3) above at a time when an Unrestricted Global Note has not yet been issued, the Company will issue and, upon receipt of an Authentication Order in accordance with Section 2.04 hereof, the Trustee will authenticate
one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred. 

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

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

(A) if the transfer will be made pursuant to Rule 144A, then the transferor must deliver a certificate in the form of
Exhibit B hereto, including the certifications in item (1) thereof; 
 (B) if the transfer will be made
pursuant to Rule 903 or Rule 904, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 

 

 21 

 (C) if the transfer will be made pursuant to any other exemption from the
registration requirements of the Securities Act, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable.

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

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

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

(i) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted Definitive
Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 

(ii) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take
delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Registrar so requests, an Opinion of Counsel in form reasonably
acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain
compliance with the Securities Act. 
 (3) Unrestricted Definitive Notes to Unrestricted Definitive Notes.
A Holder of Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register the
Unrestricted Definitive Notes pursuant to the instructions from the Holder thereof. 
  

 22 

 (f) Exchange Offer. Upon the occurrence of the Exchange Offer in accordance with the
Registration Rights Agreement, the Company will issue and, upon receipt of an Authentication Order in accordance with Section 2.04 hereof, the Trustee will authenticate: 

(1) one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of the beneficial
interests in the Restricted Global Notes accepted for exchange in the Exchange Offer by Persons that certify in the applicable Letters of Transmittal that (A) they are not Broker-Dealers, (B) they are not participating in a distribution of
the Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the Company; and 
 (2)
Unrestricted Definitive Notes in an aggregate principal amount equal to the principal amount of the Restricted Definitive Notes accepted for exchange in the Exchange Offer by Persons that certify in the applicable Letters of Transmittal that
(A) they are not Broker-Dealers, (B) they are not participating in a distribution of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the Company. 

Concurrently with the issuance of such Notes, the Trustee will cause the aggregate principal amount of the applicable Restricted Global
Notes to be reduced accordingly, and the Company will execute and the Trustee will authenticate and deliver to the Persons designated by the Holders of Definitive Notes so accepted Unrestricted Definitive Notes in the appropriate principal amount.

 (g) Legends. The following legends will appear on the face of all Global Notes and Definitive Notes issued under this
Indenture unless specifically stated otherwise in the applicable provisions of this Indenture. 
 (1) Private Placement
Legend. 
 (A) Except as permitted by subparagraph (B) below, each Global Note and each Definitive Note
(and all Notes issued in exchange therefor or substitution thereof) shall bear the legend in substantially the following form: 
 “THIS
SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE
REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED, OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE
HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL, OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS ONE
YEAR AFTER THE LATER OF THE ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE ISSUER, DIGITAL REALTY TRUST, INC., OR ANY
OF THE ISSUER’S SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES
ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN
THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED
INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3), OR (7) UNDER THE SECURITIES ACT THAT IS AN 
  

 23 

 
INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE
SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE, OR TRANSFER PURSUANT TO CLAUSE (D), (E), OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION, AND/OR
OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THE HOLDER AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. THIS LEGEND WILL BE REMOVED UPON
THE REQUEST OF THE HOLDER OR THE ISSUER ON OR AFTER THE RESALE RESTRICTION TERMINATION DATE. IN THE CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT
OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.” 

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

(2) Global Note Legend. Each Global Note will bear a legend in substantially the following form: 

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE
BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.09 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO
A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN
DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO
A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.” 
  

 24 

 (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial
interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed or canceled in whole and not in part, each such Global Note will be returned to or retained and canceled by the Trustee in
accordance with Section 2.09 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another
Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to
reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note will be increased accordingly
and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 

(i) General Provisions Relating to Transfers and Exchanges. 

(1) To permit registrations of transfers and exchanges, the Company will execute and the Trustee will authenticate Global
Notes and Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.04 hereof or at the Registrar’s request. 

(2) No service charge will be made to a Holder of a beneficial interest in a Global Note or to a Holder of a Definitive
Note for any registration of transfer or exchange, but the 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 taxes or similar
governmental charge payable upon exchange or transfer pursuant to Sections 2.08, 3.03 and 9.04 hereof). 
 (3)
The Registrar will not be required to register the transfer of or exchange of any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. 

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

 (5) Neither the Registrar nor the Company will be required: 

(A) to issue, register the transfer of or to exchange any Note during a period beginning at the opening of business
fifteen (15) days before any selection of Notes for redemption under Article 3 hereof and ending at the close of business on the earliest date on which the relevant notice of redemption is deemed to have been given to all Holders of Notes to be
so redeemed; or 
 (B) to register the transfer of or to exchange any Note selected for redemption in whole or in
part, except the unredeemed portion of any Note being redeemed in part. 
 (6) Prior to due presentment for the
registration of a transfer of any Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on
such Notes and for all other purposes, and none of the Trustee, any Agent or the Company shall be affected by notice to the contrary. 
  

 25 

 (7) The Trustee will authenticate Global Notes and Definitive Notes in
accordance with the provisions of Section 2.04 hereof. 
 (8) All certifications, certificates and Opinions
of Counsel required to be submitted to the Registrar pursuant to this Section 2.06 to effect a registration of transfer or exchange may be submitted by facsimile. 

Section 2.07 Mutilated, Destroyed, Lost or Stolen Notes. 

In case any Note shall become mutilated or be destroyed, lost or stolen, the Company in its discretion may execute, and upon its written
request the Trustee or an authenticating agent appointed by the Trustee shall authenticate and make available for delivery, a new Note, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Note, or in
lieu of and in substitution for the Note so destroyed, lost or stolen. In every case, the applicant for a substituted Note shall furnish to the Company, to the Trustee and, if applicable, to such authenticating agent such security or indemnity bond
as may be required by them to save each of them harmless for any loss, liability, cost or expense caused by or connected with such substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company, to
the Trustee and, if applicable, to such authenticating agent evidence to their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof. 

Following receipt by the Trustee or such authenticating agent, as the case may be, of satisfactory security or indemnity bond and
evidence, as described in the preceding paragraph, the Trustee or such authenticating agent may authenticate any such substituted Note and make available for delivery such Note. Upon the issuance of any substituted Note, the Company may require the
payment by the Holder of a sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith. In case any Note which has matured or is about to mature or has
been called for redemption, as the case may be, shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Note, pay or authorize the payment of or exchange or authorize the exchange of the same (without
surrender thereof except in the case of a mutilated Note), as the case may be, if the applicant for such payment or exchange shall furnish to the Company, to the Trustee and, if applicable, to such authenticating agent such security or indemnity
bond as may be required by them to save each of them harmless for any loss, liability, cost or expense caused by or in connection with such substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the
Company, the Trustee and, if applicable, any Paying Agent evidence to their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof. 

Every substitute Note issued pursuant to the provisions of this Section 2.07 by virtue of the fact that any Note is destroyed, lost
or stolen shall constitute an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Note shall be found at any time, and shall be entitled to all the benefits of (but shall be subject to all the limitations
set forth in) this Indenture equally and proportionately with any and all other Notes duly issued hereunder. To the extent permitted by law, all Notes shall be held and owned upon the express condition that the foregoing provisions are exclusive
with respect to the replacement or payment or exchange or redemption of mutilated, destroyed, lost or stolen Notes and shall preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted to the
contrary with respect to the replacement or payment or exchange or redemption of negotiable instruments or other securities without their surrender. 
  

 26 

 Section 2.08 Temporary Notes. 

Pending the preparation of Notes in certificated form, the Company may execute and the Trustee or an authenticating agent appointed by the
Trustee shall, upon the written request of the Company, authenticate and deliver temporary Notes (printed or lithographed). Temporary Notes shall be issuable in any authorized denomination, and substantially in the form of the Notes in certificated
form, but with such omissions, insertions and variations as may be appropriate for temporary Notes, all as may be determined by the Company. Every such temporary Note shall be executed by the Company and authenticated by the Trustee or such
authenticating agent upon the same conditions and in substantially the same manner, and with the same effect, as the Notes in certificated form. Without unreasonable delay, the Company will execute and deliver to the Trustee or such authenticating
agent Notes in certificated form and thereupon any or all temporary Notes may be surrendered in exchange therefor, at each office or agency maintained by the Company pursuant to Section 4.02 and the Trustee or such authenticating agent shall
authenticate and make available for delivery in exchange for such temporary Notes an equal aggregate principal amount of Notes in certificated form. Such exchange shall be made by the Company at its own expense and without any charge therefor. Until
so exchanged, the temporary Notes shall in all respects be entitled to the same benefits and subject to the same limitations under this Indenture as Notes in certificated form authenticated and delivered hereunder. 

Section 2.09 Cancellation of Notes. 

All Notes surrendered for the purpose of payment, redemption or registration of transfer shall, if surrendered to the Company or any
Paying Agent or any Registrar, be surrendered to the Trustee and promptly canceled by it or, if surrendered to the Trustee, shall be promptly canceled by it and no Notes shall be issued in lieu thereof except as expressly permitted by any of the
provisions of this Indenture. The Trustee shall dispose of such canceled Notes in accordance with its customary procedures. If the Company shall acquire any of the Notes, such acquisition shall not operate as a redemption or satisfaction of the
indebtedness represented by such Notes unless and until the same are delivered to the Trustee for cancellation. 
 Section 2.10 CUSIP
Numbers. 
 The Company in issuing the Notes 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 Notes or
as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will
promptly notify the Trustee of any change in the “CUSIP” numbers. 
 Section 2.11 Issuance of Additional Notes.

 The Company will be entitled, upon delivery of an Officers’ Certificate, Opinion of Counsel and Authentication Order,
subject to its compliance with Section 4.10, to issue Additional Notes under the Indenture that will have identical terms to the Initial Notes issued on the date of this Indenture other than with respect to the date of issuance and issue price.

  

 27 

 With respect to any Additional Notes, the Company will set forth in a resolution of its
Board of Directors and an Officers’ Certificate, a copy of each of which will be delivered to the Trustee, the following information: 

(1) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture; 

(2) the issue price, the issue date and the CUSIP number of such Additional Notes; and 

(3) whether such Additional Notes shall be transfer restricted Notes and issued in the form of Initial Notes as set forth in
Section 2.04 of this Indenture or shall be issued in the form of Exchange Notes. 
 ARTICLE 3 

REDEMPTION OF NOTES 

Section 3.01 Optional Redemption of Notes. 

The Company may redeem on any one or more occasions some or all of the Notes before they mature. The redemption price (the
“Redemption Price”) will equal the sum of (1) an amount equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest up to, but not including, the Redemption Date and (2) a Make-Whole
Premium; provided that, the Company will not redeem the Notes on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or cured on or prior to such date (except in the case of an
acceleration resulting from a default by the Company in the payment of the Redemption Price with respect to the Notes to be redeemed). Notwithstanding the foregoing, if the Notes are redeemed on or after ninety (90) days prior to the Maturity
Date, the Redemption Price will not include a Make-Whole Premium; provided further that if the Redemption Date falls after a Record Date and on or prior to the corresponding interest payment date, the Company will pay the full amount of
accrued and unpaid interest, if any, on such interest payment date to the Holder of record at the close of business on the corresponding Record Date (instead of the Holder surrendering its Notes for redemption) and the Redemption Price shall not
include accrued and unpaid interest up to, but not including, the Redemption Date. 
 Section 3.02 Notice of Optional Redemption,
Selection of Notes. 
 In case the Company shall desire to exercise the right to redeem all or, as the case may be, any part
of the Notes pursuant to Section 3.01, it shall fix a date for redemption and it or, at its 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 the notice of redemption is to be sent, the Trustee in the name of and at the expense of the Company, shall mail or cause to be mailed, or sent by electronic transmission a notice of such redemption not fewer than thirty
(30) calendar days nor more than sixty (60) calendar days prior to the Redemption Date to each Holder of Notes so to be redeemed in whole or in part at its last address as the same appears on the Register; provided that if the
Company makes such request of the Trustee, it shall, together with such request, also give written notice of the Redemption Date to the Trustee, provided further that the text of the notice shall be prepared by the Company. Such mailing shall
be by first class mail or sent by electronic transmission. The notice, if sent in the manner herein provided, shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice. In any case, failure to give such
notice by mail or any defect in the notice to the Holder of any Note designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Note. Concurrently with the sending of any such
notice of redemption, the Company shall issue a press release announcing such redemption, the form and content of which press release shall be determined by the Company in its sole discretion. The failure to issue any such press release or any
defect therein shall not affect the validity of the redemption notice or any of the proceedings for the redemption of any Note called for redemption. 
  

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 Each such notice of redemption shall specify: (i) the aggregate principal amount of
Notes to be redeemed, (ii) the CUSIP number or numbers of the Notes being redeemed, (iii) the Redemption Date (which shall be a Business Day), (iv) the Redemption Price at which Notes are to be redeemed, (v) the place or places
of payment and that payment will be made upon presentation and surrender of such Notes and (vi) that interest accrued and unpaid to, but excluding, the Redemption Date will be paid as specified in said notice, and that on and after said date
interest thereon or on the portion thereof to be redeemed will cease to accrue. If fewer than all the Notes are to be redeemed, the notice of redemption shall identify the Notes to be redeemed (including CUSIP numbers, if any). In case any Note is
to be redeemed in part only, the notice of redemption shall state the portion of the principal amount thereof to be redeemed and shall state that, on and after the Redemption Date, upon surrender of such Note, a new Note or Note in principal amount
equal to the unredeemed portion thereof will be issued. 
 On or prior to the Redemption Date specified in the notice of
redemption given as provided in this Section 3.02, the Company will deposit with the Paying Agent (or, if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in Section 4.04) an amount of money
in immediately available funds sufficient to redeem on the Redemption Date all the Notes (or portions thereof) so called for redemption at the appropriate Redemption Price; provided that if such payment is made on the Redemption Date, it must
be received by the Paying Agent, by 11:00 a.m., New York City time, on such date. The Company shall be entitled to retain any interest, yield or gain on amounts deposited with the Paying Agent pursuant to this Section 3.02 in excess of amounts
required hereunder to pay the Redemption Price. 
 If less than all of the outstanding Notes are to be redeemed, the Trustee
shall select the Notes or portions thereof of the Global Notes or the Notes in certificated form to be redeemed (in principal amounts of $1,000 or multiples thereof) by lot, on a pro rata basis or by another method the Trustee deems fair and
appropriate or is required by the Depository. The Notes (or portions thereof) so selected for redemption shall be deemed duly selected for redemption for all purposes hereof. 

Section 3.03 Payment of Notes Called for Redemption by the Company. 

If notice of redemption has been given as provided in Section 3.02, the Notes or portion of Notes with respect to which such notice
has been given shall become due and payable on the Redemption Date and at the place or places stated in such notice at the Redemption Price, and unless the Company shall default in the payment of such Notes at the Redemption Price, interest on the
Notes or portion of Notes so called for redemption shall cease to accrue on and after the Redemption Date and, on and after the Redemption Date (unless the Company shall default in the payment of the Redemption Price) such Notes shall, except as
provided in Section 7.05 and Section 11.02, cease to be entitled to any benefit or security under this Indenture, and the Holders thereof shall have no right in respect of such Notes except the right to receive the Redemption Price
thereof. On presentation and surrender of such Notes at a place of payment in said notice specified, the said Notes or the specified portions thereof shall be paid and redeemed by the Company at the Redemption Price, together with interest accrued
thereon to, but excluding, the Redemption Date. 
 Upon presentation of any Note redeemed in part only, the Company shall
execute and the Trustee shall authenticate and make available for delivery to the Holder thereof, at the expense of the Company, a new Note or Notes, of authorized denominations, in principal amount equal to the unredeemed portion of the Notes so
presented. 
 Section 3.04 Sinking Fund. 

There shall be no sinking fund provided for the Notes. 

 

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 ARTICLE 4 

PARTICULAR COVENANTS OF THE COMPANY 

Section 4.01 Payment of Notes. 

The Company covenants and agrees that it will duly and punctually pay or cause to be paid when due the principal of (including the
Redemption Price upon redemption pursuant to Article 3), and premium, if any, and interest on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes; provided that the Company may withhold
from payments of interest and upon redemption pursuant to Article 3, maturity or otherwise, any amounts the Company is required to withhold by law. 

Section 4.02 Maintenance of Office or Agency. 

The Company will maintain an office or agency in the United States where the Notes may be surrendered for registration of transfer or
exchange or for presentation for payment or redemption and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. As of the date of this Indenture, such office shall be the Corporate Trust Office
and, at any other time, at such other address as the Trustee may designate from time to time by notice to the Company. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or
agency not designated or appointed by the Trustee. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the Corporate Trust Office. 
 The Company may also from time to time designate co-registrars
and one or more offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations. The Company will give prompt written notice to the Trustee of any such designation
or rescission and of any change in the location of any such other office or agency. 
 The Company hereby initially designates
the Trustee as Paying Agent, Registrar and Custodian and the Corporate Trust Office shall be considered as one such office or agency of the Company for each of the aforesaid purposes. 

So long as the Trustee is the Registrar, the Trustee agrees to send by electronic transmission, mail, or cause to be mailed, the notices
set forth in Section 7.10 and the third paragraph of Section 7.11. If co-registrars have been appointed in accordance with this Section, the Trustee shall mail such notices only to the Company and the Holders it can identify from its
records. 
 Section 4.03 Appointments to Fill Vacancies in Trustee’s Office. 

The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, upon the terms and conditions and
otherwise as provided in Section 7.10, a Trustee, so that there shall at all times be a Trustee hereunder. 
 Section 4.04
Provisions as to Paying Agent. 
 (a) If the Company shall appoint a Paying Agent other than the Trustee, or if the Trustee
shall appoint such a Paying Agent, the Company will cause such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section 4.04; 

 

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 (1) that it will hold all sums held by it as such agent for the payment of
the principal of and premium, if any, or interest on the Notes (whether such sums have been paid to it by the Company or by any other obligor on the Notes) in trust for the benefit of the Holders; 

(2) that it will give the Trustee notice of any failure by the Company (or by any other obligor on the Notes) to make any
payment of the principal of and premium, if any, or interest on the Notes when the same shall be due and payable; and 

(3) that at any time during the continuance of an Event of Default, upon request of the Trustee, it will forthwith pay to
the Trustee all sums so held in trust. 
 The Company shall, on or before each due date of the principal of, premium, if any, or
interest on the Notes, deposit with the Paying Agent a sum (in funds which are immediately available on the due date for such payment) sufficient to pay such principal, premium, if any, or interest and (unless such Paying Agent is the Trustee) the
Company will promptly notify the Trustee of any failure to take such action; provided that if such deposit is made on the due date, such deposit shall be received by the Paying Agent by 11:00 a.m. New York City time, on such date. 

(b) If the Company shall act as its own Paying Agent, it will, on or before each due date of the principal of, premium, if any, or
interest on the Notes, set aside, segregate and hold in trust for the benefit of the Holders a sum sufficient to pay such principal, premium, if any, and interest so becoming due and will promptly notify the Trustee of any failure to take such
action and of any failure by the Company (or any other obligor under the Notes) to make any payment of the principal of, premium, if any, or interest on the Notes when the same shall become due and payable. 

(c) Anything in this Section 4.04 to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining a
satisfaction and discharge of this Indenture, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by the Company or any Paying Agent hereunder as required by this Section 4.04, such sums to be held by the
Trustee upon the trusts herein contained and upon such payment by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent shall be released from all further liability with respect to such sums. 

(d) Anything in this Section 4.04 to the contrary notwithstanding, the agreement to hold sums in trust as provided in this
Section 4.04 is subject to Section 11.02 and Section 11.03. 
 The Trustee shall not be responsible for the
actions of any other Paying Agents (including the Company if acting as its own Paying Agent) and shall have no control of any funds held by such other Paying Agents. 

Section 4.05 Existence. 

Subject to Article 10 hereof, each of the Company and the Guarantor will do or cause to be done all things necessary to preserve and keep
in full force and effect its existence and rights (charter and statutory); provided that neither the Company nor the Guarantor shall be required to preserve any such right if the Company or the Guarantor, as applicable, shall determine that
the preservation thereof is no longer desirable in the conduct of the business of the Company or the Guarantor, as applicable, and that the loss thereof is not disadvantageous in any material respect to the Holders. 

 

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 Section 4.06 Reports. 

(a) Whether or not required by the rules and regulations of the SEC, so long as any Notes are outstanding, the Company will furnish to the
Holders of Notes or cause the Trustee to furnish to the Holders of Notes, within the time periods specified in the SEC’s rules and regulations: 

(1) all quarterly and annual reports that would be required to be filed with the SEC on Forms 10-Q and 10-K if we were
required to file such reports; and 
 (2) all current reports that would be required to be filed with the SEC on
Form 8-K if we were required to file such reports. 
 All such reports will be prepared in all material respects in accordance
with all of the rules and regulations applicable to such reports. Each annual report on Form 10-K will include a report on the Company’s consolidated financial statements by its independent registered public accounting firm. Notwithstanding the
foregoing, prior to the consummation of the exchange offer contemplated by the Registration Rights Agreement, the Company may satisfy its obligation to furnish the reports described above by furnishing reports for the Guarantor. Following the
consummation of the Exchange Offer contemplated by the Registration Rights Agreement, the Company will file a copy of each of the reports referred to in clauses (1) and (2) above with the SEC for public availability within the time periods
specified in the rules and regulations applicable to such reports (unless the SEC will not accept such a filing) and will make the reports available on its website within those time periods. 

If, at any time after consummation of the Exchange Offer contemplated by the Registration Rights Agreement, the Company is no longer
subject to the periodic reporting requirements of the Exchange Act for any reason, the Company will nevertheless continue filing the reports specified in the preceding paragraph with the SEC within the time periods specified above unless the SEC
will not accept such a filing. The Company will not take any action for the purpose of causing the SEC not to accept any such filings. If, notwithstanding the foregoing, the SEC will not accept the Company’s filings for any reason, the Company
will make the reports referred to in the preceding paragraph available on its website within the time periods that would apply if the Company were required to file those reports with the SEC. 

(b) For so long as any Notes remain outstanding, if at any time it is not required to file with the SEC the reports required by
paragraphs (a) of this Section 4.06, the Company will furnish to the Holders and to securities analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the
Securities Act. 
 Section 4.07 Stay, Extension and Usury Laws. 

The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying all or any portion of the principal, premium, if any, or interest on the Notes as
contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture and 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 had been enacted. 
  

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 Section 4.08 Compliance Certificate. 

Within one hundred twenty (120) calendar days after the end of each fiscal year of the Company, the Company and the Guarantor shall
deliver to the Trustee a certificate signed by any of the principal executive officer, principal financial officer or principal accounting officer of the Company and the Guarantor, as the case may be, stating whether or not the signer has knowledge
of any Default under this Indenture, and, if so, specifying each Default and the nature and the status thereof. 
 The Company
will deliver to the Trustee, promptly upon becoming aware of (i) any Default in the performance or observance of any covenant, agreement or condition contained in this Indenture, or (ii) any Event of Default, an Officers’ Certificate
specifying with particularity such Default or Event of Default and further stating what action the Company has taken, is taking or proposes to take with respect thereto. 

Any notice required to be given under this Section 4.08 shall be delivered to a Responsible Officer of the Trustee at its Corporate
Trust Office. 
 Section 4.09 Taxes. 

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

Section 4.10 Limitations on Incurrence of Indebtedness. 

(a) The Company will not, and will not permit any of its Subsidiaries to, Incur any Indebtedness, other than Intercompany Indebtedness and
guarantees of Indebtedness Incurred by the Company or any of its Subsidiaries in compliance with this Indenture, if, immediately after giving effect to the Incurrence of such Indebtedness and the application of the proceeds thereof, Total
Outstanding Debt would be greater than 60% of Total Assets as of the end of the fiscal quarter covered in the annual or quarterly report most recently furnished to Holders of the Notes or filed with the SEC, as the case may be. 

(b) The Company will not, and will not permit any of its Subsidiaries to, Incur any Secured Debt, other than guarantees of Secured Debt
Incurred by the Company or any of its Subsidiaries in compliance with the Indenture, if, immediately after giving effect to the Incurrence of such Secured Debt and the application of the proceeds thereof, the aggregate principal amount of Secured
Debt would be greater than 40% of Total Assets as of the end of the fiscal quarter covered in the annual or quarterly report most recently furnished to Holders of the Notes or filed with the SEC, as the case may be. 

(c) The Company and its Subsidiaries will at all times maintain Total Unencumbered Assets of not less than 150% of the aggregate
outstanding principal amount of Unsecured Debt. 
 (d) The Company will not, and will not permit any of its Subsidiaries to,
Incur any Indebtedness other than Intercompany Indebtedness and guarantees of Indebtedness Incurred by the Company or any of its Subsidiaries in compliance with the Indenture, if the ratio of Consolidated EBITDA to Interest Expense for the most
recent quarterly period covered in the annual or quarterly report most recently furnished to holders of the Notes or filed with the SEC, as the case may be and in accordance with Section 4.06 hereof, prior to such time, annualized (i.e.,
multiplied by four (4)) prior to the date on which such additional Indebtedness is to be Incurred shall have been less than 1.50:1.00 on a pro forma basis after giving effect thereto and to the application of the proceeds therefrom, and
calculated on the assumption that: 
 (1) such Indebtedness and any other Indebtedness Incurred by the Company
and its Subsidiaries since the first day of such quarterly period and the application of the proceeds therefrom, including to refinance other Indebtedness, had occurred at the beginning of such period; 

 

 33 

 (2) the repayment or retirement of any Indebtedness (other than Indebtedness
repaid or retired with the proceeds of any other Indebtedness, which repayment or retirement shall be calculated pursuant to the preceding clause (1)) by the Company and its Subsidiaries since the first day of such quarterly period had been
repaid or retired at the beginning of such period (except that, in making such computation, the amount of Indebtedness under any revolving credit facility shall be computed based upon the average daily balance of such Indebtedness during such
period); 
 (3) in the case of Acquired Indebtedness or Indebtedness Incurred in connection with any acquisition
since the first day of such quarterly period, the related acquisition had occurred as of the first day of such period with the appropriate adjustments with respect to such acquisition being included in such pro forma calculation; and 

(4) in the case of any acquisition or disposition of any asset or group of assets or the placement of any assets in
service or removal of any assets from service by the Company or any of its Subsidiaries from the first day of such quarterly period to the date of determination, including, without limitation, by merger, or stock or asset purchase or sale, the
acquisition, disposition, placement in service or removal from service, had occurred as of the first day of such period, with appropriate adjustments to Interest Expense with respect to the acquisition, disposition, placement in service or removal
from service being included in that pro forma calculation. 
 Section 4.11 Maintenance of Properties. 

The Company shall cause all of its material properties used or useful in the conduct of its business or the business of any Subsidiary to
be maintained and kept in good condition, repair and working order, casualty and condemnation excepted (and the Company may take out of service for a period of time, any of its properties that have been condemned or suffered any loss due to casualty
in order to make such repairs, betterments and improvements), all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided,
however, notwithstanding anything herein to the contrary, (i) the Company may discontinue the maintenance of any of such properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of its business or the
business of any Consolidated Subsidiary and not disadvantageous in any material respect to the Holders, and (ii) the Company and its Subsidiaries may sell or otherwise dispose of any of their properties for value in the ordinary course of
business. 
 Section 4.12 Insurance. 

The Company shall cause each of its properties and each of the properties of its Subsidiaries to be insured against loss of damage with
insurers of recognized responsibility, in commercially reasonable amounts and types as determined by the Company and with insurers of recognized responsibility. 
  

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 Section 4.13 Liquidated Damages Notice. 

In the event that the Company is required to pay Liquidated Damages to Holders of Notes pursuant to the Registration Rights Agreement, the
Company will provide written notice (“Liquidated Damages Notice”) to the Trustee of its obligation to pay Liquidated Damages no later than fifteen (15) calendar days prior to the proposed interest payment date for Liquidated
Damages, and the Liquidated Damages Notice shall set forth the amount of Liquidated Damages to be paid by the Company on such interest payment date. The Trustee shall not at any time be under any duty or responsibility to any Holder of Notes to
determine the Liquidated Damages, or with respect to the nature, extent or calculation of the amount of Liquidated Damages when made, or with respect to the method employed in such calculation of the Liquidated Damages. 

ARTICLE 5 

HOLDERS’ LISTS AND REPORTS BY THE TRUSTEE 

Section 5.01 Holders’ Lists. 

The Company covenants and agrees that it will furnish or cause to be furnished to the Trustee, semiannually, not more than fifteen
(15) calendar days after each January 15 and July 15 of each year beginning with January 15, 2011, and at such other times as the Trustee may reasonably request in writing, within thirty (30) calendar days after receipt by
the Company of any such request (or such lesser time as the Trustee may reasonably request in order to enable it to timely provide any notice to be provided by it hereunder), a list in such form as the Trustee may reasonably require of the names and
addresses of the Holders of Notes as of a date not more than fifteen (15) calendar days (or such other date as the Trustee may reasonably request in order to so provide any such notices) prior to the time such information is furnished, except
that no such list need be furnished by the Company to the Trustee so long as the Trustee is acting as the sole Registrar. 

Section 5.02 Preservation and Disclosure of Lists. 

(a) The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the
Holders of Notes contained in the most recent list furnished to it as provided in Section 5.01 or maintained by the Trustee in its capacity as Registrar or co-registrar in respect of the Notes, if so acting. The Trustee may destroy any list
furnished to it as provided in Section 5.01 upon receipt of a new list so furnished. 
 (b) The rights of Holders to
communicate with other Holders of Notes with respect to their rights under this Indenture or under the Notes, and the corresponding rights and duties of the Trustee, shall be as provided by the TIA. 

(c) Every Holder agrees with the Company and the Trustee that neither the Company nor the Trustee nor any agent of either of them shall
be held accountable by reason of any disclosure of information as to names and addresses of Holders of Notes made pursuant to the TIA. 

Section 5.03 Reports by Trustee. 

(a) Within sixty (60) calendar days after April 15 of each year beginning with April 15, 2011, the Trustee shall transmit
to Holders of Notes such reports dated as of April 15 of the year in which such reports are made concerning the Trustee and its actions under this Indenture as may be required pursuant to the TIA at the times and in the manner provided pursuant
thereto. In the event that no events have occurred under the applicable sections of the TIA the Trustee shall be under no duty or obligation to provide such reports. 

 

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 (b) A copy of such report shall, at the time of such transmission to Holders of Notes, be
filed by the Trustee with each stock exchange and automated quotation system, if any, upon which the Notes are listed and with the Company. The Company will promptly notify the Trustee in writing if the Notes are listed on any stock exchange or
automated quotation system or delisted therefrom. 
 ARTICLE 6  

REMEDIES OF THE TRUSTEE AND THE HOLDERS ON AN EVENT OF DEFAULT 

Section 6.01 Events of Default. 

In case one or more of the following (“Events of Default”) (whatever the reason for such Event of Default and whether it
shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body) shall have occurred and be continuing:

 (a) default for thirty (30) days in the payment of any installment of interest under the Notes; or 

(b) default in the payment of the principal amount or Redemption Price due with respect to the Notes, when the same becomes due and
payable; or 
 (c) each of the Company and the Guarantor fails to comply with any of its other agreements contained in the Notes
or this Indenture upon receipt by the Company of notice of such default by the Trustee or by Holders of not less than 25% in aggregate principal amount of the Notes then outstanding and the Company or the Guarantor, as applicable, fails to cure (or
obtain a waiver of) such default within sixty (60) days after the Company receives such notice; or 
 (d) failure to pay
any Indebtedness that is (a) of the Company, the Guarantor or any Subsidiary in which the Company has invested at least $50,000,000 in capital (a “Significant Subsidiary”) or any entity in which the Company is the general
partner, and (b) in an outstanding principal amount in excess of $50,000,000 at final maturity or upon acceleration after the expiration of any applicable grace period, which Indebtedness is not discharged, or such default in payment or
acceleration is not cured or rescinded, within thirty (30) days after written notice to the Company from the Trustee (or to the Company and the Trustee from Holders of at least 25% in principal amount of the outstanding Notes); or 

(e) the Company, the Guarantor or any Significant Subsidiary pursuant to or under or within meaning of any Bankruptcy Law: 

(1) commences a voluntary case or proceeding seeking liquidation, reorganization or other relief with respect to the
Company, the Guarantor or a Significant Subsidiary or its debts or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company, the Guarantor or a Significant Subsidiary or any substantial part of
the property of the Company, the Guarantor or a Significant Subsidiary; or 
  

 36 

 (2) consents to any such relief or to the appointment of or taking
possession by any such official in an involuntary case or other proceeding commenced against the Company, the Guarantor or a Significant Subsidiary; or 

(3) consents to the appointment of a custodian of it or for all or substantially of its property; or 

(4) makes a general assignment for the benefit of creditors; or 

(f) an involuntary case or other proceeding shall be commenced against the Company, the Guarantor or any Significant Subsidiary seeking
liquidation, reorganization or other relief with respect to the Company, the Guarantor or a Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee,
receiver, liquidator, custodian or other similar official of the Company, the Guarantor or a Significant Subsidiary or any substantial part of the property of the Company, the Guarantor or a Significant Subsidiary, and such involuntary case or other
proceeding shall remain undismissed and unstayed for a period of thirty (30) calendar days; or: 
 (g) a court of competent
jurisdiction enters an order or decree under any Bankruptcy Law that 
 (1) is for relief against the Company,
the Guarantor or any of Significant Subsidiary in an involuntary case or proceeding; 
 (2) appoints a trustee,
receiver, liquidator, custodian or other similar official of the Company, the Guarantor or a Significant Subsidiary or any substantial part of the property of the Company, the Guarantor or a Significant Subsidiary; or 

(3) orders the liquidation of the Company, the Guarantor or a Significant Subsidiary; and, in each case in this clause
(g), the order or decree remains unstayed and in effect for thirty (30) calendar days; 
 then, and in each and every such case (other than
an Event of Default specified in Sections 6.01(e), 6.01(f) and 6.01(g) with respect to the Company), unless the principal of all of the Notes shall have already become due and payable, either the Trustee or the Holders of at least 25% in aggregate
principal amount of the Notes then outstanding, by notice in writing to the Company (and to the Trustee if given by the Holders), may declare the principal amount of and premium, if any, and interest accrued and unpaid on all the Notes to be
immediately due and payable, and upon any such declaration the same shall be immediately due and payable. 
 If an Event of
Default specified in Section 6.01(e), 6.01(f) or 6.01(g) occurs with respect to Company, the principal amount of and premium, if any, and interest accrued and unpaid on all the Notes shall be immediately and automatically due and payable
without necessity of further action. 
 At any time after the principal amount of and premium, if any, and interest on the Notes
shall have been so declared due and payable, and before any judgment or decree for the payment of the monies due shall have been obtained or entered as hereinafter provided, Holders of a majority in aggregate principal amount of the Notes then
outstanding on behalf of the Holders of all of the Notes then outstanding, by written notice to the Company and to the Trustee, may waive all Defaults or Events of Default and rescind and annul such declaration and its consequences, subject in all
respects to Section 6.07 hereof, if: (a) all Events of Default, other than the nonpayment of the principal amount and any accrued and unpaid interest that have become due solely because of such acceleration, have been cured or

  

 37 

 
waived; and (b) the Company or the Guarantor has deposited with the Trustee all required payments of the principal of and interest on, the Notes, plus the reasonable compensation and
reimbursement for the Trustee’s expenses, disbursements and advances pursuant to Section 7.06. No such rescission and annulment shall extend to or shall affect any subsequent default or Event of Default, or shall impair any right
consequent thereon. The Company shall notify in writing a Responsible Officer of the Trustee, promptly upon becoming aware thereof, of any Event of Default, as provided in Section 4.08. 

In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or
abandoned because of such waiver or rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Holders, and the Trustee shall be restored respectively to
their several positions and rights hereunder, and all rights, remedies and powers of the Company, the Holders, and the Trustee shall continue as though no such proceeding had been taken. 

Section 6.02 Payments of Notes on Default; Suit Therefor. 

The Company covenants that in the case of an Event of Default pursuant to Section 6.01(a) or 6.01(b), upon demand of the Trustee, the
Company will pay to the Trustee, for the benefit of the Holders, (i) the whole amount that then shall be due and payable on all such Notes for principal and premium, if any, or interest, as the case may be, with interest upon the overdue
principal and premium, if any, and (to the extent that payment of such interest is enforceable under applicable law) upon the overdue installments of accrued and unpaid interest at the rate borne by the Notes, plus 1%, from the required payment date
and, (ii) in addition thereto, any amounts due the Trustee under Section 7.06. Until such demand by the Trustee, the Company may pay the principal of and premium, if any, and interest on the Notes to the registered Holders, whether or not
the Notes are overdue. 
 In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee, in its own
name and as trustee of an express trust, shall be entitled and empowered to institute any actions or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or
final decree, and may enforce any such judgment or final decree against the Company or any other obligor on the Notes and collect in the manner provided by law out of the property of the Company or any other obligor on the Notes wherever situated
the monies adjudged or decreed to be payable. 
 In case there shall be pending proceedings for the bankruptcy or for the
reorganization of the Company or any other obligor on the Notes under any Bankruptcy Law, or any other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall
have been appointed for or taken possession of the Company or such other obligor, the property of the Company or such other obligor, or in the case of any other judicial proceedings relative to the Company or such other obligor upon the Notes, or to
the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee
shall have made any demand pursuant to the provisions of this Section 6.02, shall be entitled and empowered, by intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal, premium, if
any, accrued and unpaid interest in respect of the Notes, and, in case of any judicial proceedings, to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee and of the
Holders allowed in such judicial proceedings relative to the Company or any other obligor on the Notes, its or their creditors, or its or their property, and to collect and receive any monies or other property payable or deliverable on any such
claims, and to distribute the same after the deduction of any amounts due the Trustee under Section 7.06, and to take any other action with respect to such claims, including participating as a member of any official committee of

  

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creditors, as it reasonably deems necessary or advisable, unless prohibited by law or applicable regulations, and any receiver, assignee or trustee in bankruptcy or reorganization, liquidator,
custodian or similar official is hereby authorized by each of the Holders 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 reasonable compensation, expenses, advances and disbursements, including counsel fees and expenses incurred by it up to the date of such distribution. To the extent that such payment of reasonable compensation, expenses, advances and
disbursements out of the estate in any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, monies, securities and other property which
the Holders may be entitled to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise. 

All rights of action and of asserting claims under this Indenture, or under any of the Notes, may be enforced by the Trustee without the
possession of any of the Notes, or the production thereof at any trial or other proceeding relative thereto, and any such suit or 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. 

In any proceedings brought by the Trustee (and in any proceedings involving the interpretation of any provision of this Indenture to
which the Trustee shall be a party) the Trustee shall be held to represent all the Holders, and it shall not be necessary to make any Holders parties to any such proceedings. 

Section 6.03 Application of Monies Collected by Trustee. 

Any monies collected by the Trustee pursuant to this Article 6, shall be applied, in the following order, at the date or dates fixed by
the Trustee for the distribution of such monies, upon presentation of the several Notes, and stamping thereon 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 7.06; 

SECOND: In case the principal of the outstanding Notes shall not have become due and be unpaid, to the payment of accrued and unpaid
interest, if any, on the Notes in default in the order of the maturity of the installments of such interest, with interest (to the extent that such interest has been collected by the Trustee) as provided in Section 6.02 upon the overdue
installments of interest at the annual rate of 1% above then applicable interest rate, such payments to be made ratably to the Persons entitled thereto; 

THIRD: In case the principal of the outstanding Notes shall have become due, by declaration or otherwise, and be unpaid to the payment of
the whole amount then owing and unpaid upon the Notes for principal and premium, if any, and interest, with interest on the overdue principal and premium, if any, and (to the extent that such interest has been collected by the Trustee) upon overdue
installments of accrued and unpaid interest, as provided in Section 6.02, and in case such monies shall be insufficient to pay in full the whole amounts so due and unpaid upon the Notes, then to the payment of such principal and premium, if
any, and interest without preference or priority of principal and premium, if any, over interest, or of interest over principal and premium, if any, or of any installment of interest over any other installment of interest, or of any Note over any
other Note, ratably to the aggregate of such principal and premium, if any, and accrued and unpaid interest; and 
  

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 FOURTH: To the payment of the remainder, if any, to the Company or any other Person lawfully
entitled thereto. 
 Section 6.04 Proceedings by Holders. 

No Holder of any Note shall have any right by virtue of or by reference to any provision of this Indenture to institute any suit, action
or proceeding in equity or at law upon or under or with respect to this Indenture, or for the appointment of a receiver, trustee, liquidator, custodian or other similar official, or for any other remedy hereunder, except in the case of a default in
the payment of principal, premium, if any, or interest on the Notes, unless (a) such Holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof, as hereinbefore provided, (b) the
Holders of at least 25% in aggregate principal amount of the Notes then outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder and shall have offered to the
Trustee such reasonably satisfactory security or indemnity as it may require against the costs, liabilities or expenses to be incurred therein or thereby, (c) the Trustee for sixty (60) calendar days after its receipt of such notice,
request and offer of indemnity, shall have neglected or refused to institute any such action, suit or proceeding and (d) no direction inconsistent with such written request shall have been given to the Trustee pursuant to Section 6.07; it
being understood and intended, and being expressly covenanted by the taker and Holder of every Note with every other taker and Holder and the Trustee, that no one or more Holders shall have any right in any manner whatever by virtue of or by
reference to any provision of this Indenture to affect, disturb or prejudice the rights of any other Holder, or to obtain or seek to obtain priority over or preference to any other such Holder, or to enforce any right under this Indenture, except in
the manner herein provided and for the equal, ratable and common benefit of all Holders (except as otherwise provided herein). For the protection and enforcement of this Section 6.04, each and every Holder and the Trustee shall be entitled to
such relief as can be given either at law or in equity. 
 Notwithstanding any other provision of this Indenture and any
provision of any Note, the right of any Holder to receive payment of the principal of (including the Redemption Price pursuant to Article 3) and premium, if any, and accrued interest on such Note, on or after the respective due dates expressed in
such Note or in the event of redemption, or to institute suit for the enforcement of any such payment on or after such respective dates against the Company shall not be impaired or affected without the consent of such Holder. 

Section 6.05 Proceedings by Trustee. 

In case of an Event of Default, the Trustee may, in its discretion, proceed to protect and enforce the rights vested in it by this
Indenture by such appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any
covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. 

Section 6.06 Remedies Cumulative and Continuing. 

All powers and remedies given by this Article 6 to the Trustee or to the Holders shall, to the extent permitted by law, be deemed
cumulative and not exclusive of any thereof or of any other powers and remedies available to the Trustee or the Holders, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this
Indenture, and no delay or omission of the Trustee or of any Holder to exercise any right or power accruing upon any default or 

 

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Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default or any acquiescence therein, and, subject to
the provisions of Section 6.04, every power and remedy given by this Article 6 or by law to the Trustee or to the Holders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Holders.

 Section 6.07 Direction of Proceedings and Waiver of Defaults by Majority of Holders. 

The Holders of not less than a majority in aggregate principal amount of the Notes at the time outstanding shall have the right to direct
the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee; provided that (a) such direction shall not be in conflict with any rule of law or
with this Indenture, (b) the Trustee may take any other action which is not inconsistent with such direction, (c) the Trustee may decline to take any action that would benefit some Holders to the detriment of other Holders and (d) the
Trustee may decline to take any action that would involve the Trustee in personal liability. 
 The Holders of a majority in
aggregate principal amount of the Notes at the time outstanding may, on behalf of the Holders of all of the Notes, waive any past default or Event of Default hereunder and its consequences except (i) a default in the payment of the principal of
(including the Redemption Price upon redemption pursuant to Article 3), premium, if any, or interest on the Notes, (ii) a default in the payment of the Redemption Price on the Redemption Date pursuant to Article 3, or (iii) a default in
respect of a covenant or provisions hereof which under Article 9 cannot be modified or amended without the consent of the Holders of all Notes then outstanding or each Note affected thereby. 

Upon any such waiver, the Company, the Trustee and the Holders of the Notes shall be restored to their former positions and rights
hereunder; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. Whenever any default or Event of Default hereunder shall have been waived as permitted by this
Section 6.07, said default or Event of Default shall for all purposes of the Notes and this Indenture be deemed to have been cured and to be not continuing; but no such waiver shall extend to any subsequent or other default or Event of Default
or impair any right consequent thereon. 
 Section 6.08 Notice of Defaults. 

The Trustee shall, within ninety (90) calendar days after a Responsible Officer of the Trustee has knowledge of the occurrence of a
default, mail to all Holders (or send by electronic transmission), as the names and addresses of such Holders appear upon the Register, notice of all defaults known to a Responsible Officer, unless such defaults shall have been cured or waived
before the giving of such notice; provided that except in the case of default in the payment of the principal of (including the Redemption Price upon redemption pursuant to Article 3), or interest on any of the Notes, the Trustee shall be
protected in withholding such notice if and so long as a trust committee of Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interest of the Holders. 

Section 6.09 Undertaking to Pay Costs. 

All parties to this Indenture agree, and each Holder by its 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 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 and expenses, against any party litigant in such suit, having due regard to the merits and good faith of the

  

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claims or defenses made by such party litigant; provided that the provisions of this Section 6.09 (to the extent permitted by law) shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than ten percent in principal amount of the Notes at the time outstanding determined in accordance with Section 8.04, or to any suit instituted by
any Holder for the enforcement of the payment of the principal of (including the Redemption Price upon redemption pursuant to Article 3), or interest on any Note on or after the due date expressed in such Note. 

ARTICLE 7 

THE TRUSTEE 

Section 7.01 Duties and Responsibilities of Trustee. 

The Trustee, prior to the occurrence of an Event of Default and after the curing or waiver of all Events of Default which may have
occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers
vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of its own affairs. 

No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent
failure to act or its own willful misconduct, except that: 
 (a) prior to the occurrence of an Event of Default and after the
curing or waiving of all Events of Default which may have occurred: 
 (1) the duties and obligations of the
Trustee shall be determined solely by the express provisions of this Indenture and the TIA, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture and no implied
covenants or obligations shall be read into this Indenture and the TIA against the Trustee; and 
 (2) in the
absence of bad faith and willful misconduct on the part of the Trustee, the Trustee may conclusively rely as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the
Trustee and conforming to the requirements of this Indenture; but, in the case of any such certificates or opinions which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine
the same to determine whether or not they conform to the requirements of this Indenture; 
 (b) the Trustee shall not be liable
for any error of judgment made in good faith by a Responsible Officer or Officers of the Trustee, unless the Trustee was negligent in ascertaining the pertinent facts; 

(c) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the
written direction of the Holders of not less than a majority in principal amount of the Notes at the time outstanding determined as provided in Section 8.04 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; 
  

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 (d) whether or not therein provided, every provision of this Indenture relating to the
conduct or affecting the liability of, or affording protection to, the Trustee shall be subject to the provisions of this Section; 

(e) the Trustee shall not be liable in respect of any payment (as to the correctness of amount, entitlement to receive or any other
matters relating to payment) or notice effected by the Company or any Paying Agent (other than the Trustee) or any records maintained by any co-registrar (other than the Trustee) with respect to the Notes; 

(f) if any party fails to deliver a notice relating to an event the fact of which, pursuant to this Indenture, requires notice to be sent
to the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred unless a Responsible Officer of the Trustee has actual knowledge thereof or unless the Trustee has otherwise
received written notice thereof; and 
 (g) the Trustee shall not be deemed to have knowledge of any Event of Default hereunder
unless a Responsible Officer of the Trustee has actual knowledge thereof or unless the Trustee shall have been notified in writing of such Event of Default by the Company or a Holder. 

None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal
financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there is reasonable ground for believing that the repayment of such funds or adequate indemnity against such risk or liability is not
reasonably assured to it. 
 Section 7.02 Reliance on Documents, Opinions, etc. 

Except as otherwise provided in Section 7.01 hereof: 

(a) the Trustee may conclusively rely and shall be protected in acting upon any resolution, certificate, statement, instrument, opinion,
report, notice, request, consent, order, bond, debenture, Note, coupon or other paper or document (whether in its original or facsimile form) believed by it in good faith to be genuine and to have been signed or presented by the proper party or
parties; 
 (b) any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an
Officers’ Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to the Trustee by a copy thereof certified by the Secretary or an Assistant
Secretary of the General Partner; 
 (c) the Trustee may consult with counsel of its own selection and any advice or Opinion of
Counsel shall be full and complete authorization and protection in respect of any action taken or omitted by it hereunder in good faith and in reliance on and in accordance with such advice or Opinion of Counsel; 

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

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 (e) 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 or other paper or document, but the Trustee may make such further inquiry or investigation into such facts or
matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney; 

(f) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents
or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed by it with due care hereunder; 

(g) the Trustee shall not be liable for any action taken, suffered or omitted to be taken by it in good faith and reasonably believed by
it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (h) the rights,
privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent,
custodian and other Person employed to act hereunder; 
 (i) the Trustee may request that the Company deliver an Officers’
Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an
Officers’ Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded; and 

(j) any permissive right or authority granted to the Trustee shall not be construed as a mandatory duty. 

Section 7.03 No Responsibility for Recitals, etc. 

The recitals contained herein and in the Notes (except in the Trustee’s certificate of authentication) shall be taken as the
statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Notes. The Trustee shall not be accountable for
the use or application by the Company of any Notes or the proceeds of any Notes authenticated and delivered by the Trustee in conformity with the provisions of this Indenture. 

Section 7.04 Trustee, Paying Agents or Registrar May Own Notes. 

The Trustee, any Paying Agent or Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes with the
same rights it would have if it were not Trustee, Paying Agent, or Registrar. 
 Section 7.05 Monies to Be Held in Trust.

 Subject to the provisions of Section 11.02, all monies received by the Trustee shall, until used or applied as herein
provided, be held in trust for the purposes for which they were received. Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. Except as otherwise provided herein, the Trustee
shall be under no liability for interest on any money received by it hereunder except as may be agreed in writing from time to time by the Company and the Trustee. 

 

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 Section 7.06 Compensation and Expenses of Trustee. 

The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, such compensation for all
services rendered by it hereunder in any capacity (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as mutually agreed to from time to time in writing between the Company and the
Trustee, and the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances reasonably incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the
reasonable compensation and the reasonable expenses and disbursements of its counsel and of all Persons not regularly in its employ) except any such expense, disbursement or advance as may arise from its negligence, willful misconduct, recklessness
or bad faith. The Company also covenants to indemnify the Trustee and any predecessor Trustee (or any officer, director or employee of the Trustee), in any capacity under this Indenture and any authenticating agent for, and to hold them harmless
against, any and all loss, liability, damage, claim or reasonable expense including taxes (other than taxes based on the income of the Trustee) incurred without negligence, willful misconduct, recklessness or bad faith on the part of the Trustee or
such officers, directors, employees or authenticating agent, as the case may be, and arising out of or in connection with the acceptance or administration of this trust or in any other capacity hereunder, including the reasonable costs and expenses
of defending themselves against any claim (whether asserted by the Company, any Holder or any other Person) of liability in the premises. The obligations of the Company under this Section 7.06 to compensate or indemnify the Trustee and to pay
or reimburse the Trustee for reasonable expenses, disbursements and advances shall be secured by a lien prior to that of the Notes and the Company upon all property and funds held or collected by the Trustee as such, except funds held in trust for
the benefit of the Holders of particular Notes. The obligation of the Company under this Section shall survive the satisfaction and discharge of this Indenture. 

When the Trustee and its agents and any authenticating agent incur expenses or render services after an Event of Default specified in
Section 6.01(e), 6.01(f) or 6.01(g) with respect to the Company occurs, the expenses and the compensation for the services are intended to constitute reasonable expenses of administration under any bankruptcy, insolvency or similar laws.

 Section 7.07 Officers’ Certificate as Evidence. 

Except as otherwise provided in Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee shall
deem it necessary or desirable that a matter be proved or established prior to taking or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of gross negligence,
bad faith, recklessness or willful misconduct on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee. 

Section 7.08 Conflicting Interests of Trustee. 

If the Trustee has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest
or resign, to the extent and in the manner provided by, and subject to the provisions of, the TIA and this Indenture. 
  

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 Section 7.09 Eligibility of Trustee. 

There shall at all times be a Trustee hereunder which shall be a Person that is eligible pursuant to the TIA to act as such and has a
combined capital and surplus of at least $50 million (or if such Person is a member of a bank holding company system, its bank holding company shall have a combined capital and surplus of at least $50 million). If such Person publishes reports of
condition at least annually, pursuant to law or to the requirements of any supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such Person shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 7.09, it shall resign immediately in the manner and with the
effect hereinafter specified in this Article. 
 Section 7.10 Resignation or Removal of Trustee. 

(a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the Holders. Upon receiving such
notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to
the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) calendar days after the mailing of such notice of resignation to the Holders, the resigning Trustee may, upon ten
(10) Business Days’ notice to the Company and the Holders, appoint a successor identified in such notice or may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, if
any Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 6.09, on behalf of itself and all others similarly situated, petition any such court for the appointment of
a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

(b) In case at any time any of the following shall occur: 

(1) the Trustee shall fail to comply with Section 7.08 after written request therefor by the Company or by any Holder
who has been a bona fide holder of a Note or Notes for at least six (6) months; or 
 (2) the Trustee shall
cease to be eligible in accordance with the provisions of Section 7.09 and shall fail to resign after written request therefor by the Company or by any such Holder; or 

(3) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or a receiver of the
Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 

then, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the
Board of Directors, one (1) copy of which instrument shall be delivered to the Trustee so removed and one (1) copy to the successor trustee, or, subject to the provisions of Section 6.09, any Holder who has been a bona fide holder of
a Note or Notes for at least six (6) months may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that
if no successor Trustee shall have been appointed and have accepted appointment sixty (60) calendar days after either the Company or the Holders has removed the Trustee, or the Trustee resigns, the Trustee so

  

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removed may petition, at the expense of the Company, any court of competent jurisdiction for an appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may
deem proper and prescribe, remove the Trustee and appoint a successor trustee. 
 (c) Any resignation or removal of the Trustee
and appointment of a successor trustee pursuant to any of the provisions of this Section 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11. 

(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 7.06 shall
continue for the benefit of the retiring Trustee. 
 Section 7.11 Acceptance by Successor Trustee. 

Any successor trustee appointed as provided in Section 7.10 shall execute, acknowledge and deliver to the Company and to its
predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as trustee herein; but, nevertheless, on the written request of the Company or of the successor trustee, the trustee
ceasing to act shall, upon payment of any amount then due it pursuant to the provisions of Section 7.06, execute and deliver an instrument transferring to such successor trustee all the rights and powers of the trustee so ceasing to act. Upon
request of any such successor trustee, the Company shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall,
nevertheless, retain a lien upon all property and funds held or collected by such trustee as such, except for funds held in trust for the benefit of Holders of particular Notes, to secure any amounts then due it pursuant to the provisions of
Section 7.06. 
 No successor trustee shall accept appointment as provided in this Section 7.11 unless, at the time of
such acceptance, such successor trustee shall be qualified under the provisions of Section 7.08 and be eligible under the provisions of Section 7.09. 

Upon acceptance of appointment by a successor trustee as provided in this Section 7.11, the Company (or the successor trustee, at
the written direction of the Company) shall mail or cause to be mailed (or sent by electronic transmission) notice of the succession of the former trustee hereunder to the Holders at their addresses as they shall appear on the Register. If the
Company fails to send such notice within ten (10) calendar days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be sent at the expense of the Company. 

Section 7.12 Succession by Merger. 

Any corporation into which the Trustee may be merged or exchanged or with which it may be consolidated, or any corporation resulting from
any merger, exchange or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee (including any trust created by this Indenture), shall be the
successor to the Trustee hereunder without the execution or filing of any paper or any further act on the part of any of the parties hereto, provided that in the case of any corporation succeeding to all or substantially all of the corporate
trust business of the Trustee, such corporation shall be qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09. 

 

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 In case at the time such successor to the Trustee shall succeed to the trusts created by
this Indenture, any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee or authenticating agent appointed by such predecessor trustee,
and deliver such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Trustee or any authenticating agent appointed by such successor trustee may authenticate such Notes in the
name of the successor trustee; and in all such cases such certificates shall have the full force that is provided in the Notes or in this Indenture; provided that the right to adopt the certificate of authentication of any predecessor Trustee
or authenticate Notes in the name of any predecessor Trustee shall apply only to its successor or successors by merger, exchange or consolidation. 

Section 7.13 Preferential Collection of Claims. 

If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Notes), the Trustee shall be subject
to the provisions of the TIA regarding the collection of the claims against the Company (or any such other obligor). 

ARTICLE 8 

THE HOLDERS 

Section 8.01 Action by Holders. 

Whenever in this Indenture it is provided that the Holders of a specified percentage in aggregate principal amount of the Notes may take
any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action, the Holders of such specified percentage have joined
therein may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by Holders in person or by agent or proxy appointed in writing, or (b) by the record of the Holders of Notes voting in favor thereof at
any meeting of Holders, or (c) by a combination of such instrument or instruments and any such record of such a meeting of Holders. Whenever the Company or the Trustee solicits the taking of any action by the Holders, the Company or the Trustee
may fix in advance of such solicitation a date as the Record Date for determining Holders entitled to take such action. The Record Date, if any, shall be not more than fifteen (15) calendar days prior to the date of commencement of solicitation
of such action 
 Section 8.02 Proof of Execution by Holders. 

Subject to the provisions of Sections 7.01 and 7.02, proof of the execution of any instrument by a Holder or its agent or proxy shall be
sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The holding of Notes shall be proved by the registry of such Notes or by a
certificate of the Registrar. 
 Section 8.03 Absolute Owners. 

The Company, the Trustee, any Paying Agent and any Registrar may deem the Person in whose name such Note shall be registered upon the
Register to be, and may treat it as, the absolute owner of such Note (whether or not such Note shall be overdue and notwithstanding any notation of ownership or other writing thereon made by any Person other than the Company or any Registrar) for
the purpose of receiving payment of or on account of the principal of (including the Redemption Price upon redemption pursuant to Article 3), premium, if any, and interest on such Note, and for all other purposes; and neither the Company nor the
Trustee nor any Paying Agent nor any Registrar shall be affected by any notice to the contrary. All such payments so made to any Holder for the time being, or upon its order, shall be valid, and, to the extent of the sum or sums so paid, effectual
to satisfy and discharge the liability for monies payable upon any such Note. 
  

 48 

 Section 8.04 Company-owned Notes Disregarded. 

In determining whether the Holders of the requisite aggregate principal amount of Notes have concurred in any direction, consent, waiver
or other action under this Indenture, Notes which are owned by the Company or any other obligor on the Notes or any Affiliate of the Company or any other obligor on the Notes shall be disregarded and deemed not to be outstanding for the purpose of
any such determination; provided that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, consent, waiver or other action, only Notes which a Responsible Officer knows are so owned shall be
so disregarded. Notes so owned which have been pledged in good faith may be regarded as outstanding for the purposes of this Section 8.04 if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right to vote such
Notes and that the pledgee is not the Company, any other obligor on the Notes or any Affiliate of the Company or any such other obligor. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be
full protection to the Trustee. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officers’ Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for the account of
any of the above described Persons, and, subject to Section 7.01, the Trustee shall be entitled to accept such Officers’ Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein
are outstanding for the purpose of any such determination. 
 Section 8.05 Revocation of Consents; Future Holders Bound. 

At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the
Holders of the percentage in aggregate principal amount of the Notes specified in this Indenture in connection with such action, any Holder of a Note which is shown by the evidence to be included in the Notes the Holders of which have consented to
such action may, by filing written notice with the Trustee at its Corporate Trust Office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Note. Except as aforesaid, any such action taken by the
Holder of any Note shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Note and of any Notes issued in exchange or substitution therefor, irrespective of whether any notation in regard thereto is made upon
such Note or any Note issued in exchange or substitution therefor. 
 ARTICLE 9 

AMENDMENT, SUPPLEMENT AND WAIVER 

Section 9.01 Without Consent of Holders of Notes. 

The Company, when authorized by the resolutions of the Board of Directors, the Guarantor and the Trustee may, from time to time, and at
any time enter into an indenture or indentures supplemental without the consent of the Holders of the Notes hereto for one or more of the following purposes: 

(a) to evidence a successor to the Company as obligor or to the Guarantor as guarantor under this Indenture; 

(b) to add to the covenants of the Company or the Guarantor for the benefit of the Holders of the Notes or to surrender any right or
power conferred upon the Company or the Guarantor in this Indenture; 
  

 49 

 (c) to add Events of Default for the benefit of the Holders of the Notes; 

(d) to amend or supplement any provisions of this Indenture; provided that no amendment or supplement shall materially adversely
affect the interests of the Holders of any Notes then outstanding; 
 (e) to secure the Notes; 

(f) to provide for the acceptance of appointment of a successor Trustee or facilitate the administration of the trusts under this
Indenture by more than one Trustee; 
 (g) to cure any ambiguity, defect or inconsistency in this Indenture; provided
that this action shall not adversely affect the interests of the Holders of the Notes in any material respect; 
 (h) to provide
for the issuance of Additional Notes in accordance with the limitations set forth in this Indenture; 
 (i) to supplement any of
the provisions of this Indenture to the extent necessary to permit or facilitate defeasance and discharge of any series of the Notes; provided that the action shall not adversely affect the interests of the Holders of the Notes in any
material respect; or 
 (j) to conform the text of this Indenture, any Note Guarantee or the Notes to any provision of the
description thereof set forth in the Offering Memorandum to the extent that such provision in the Offering Memorandum was intended to be a verbatim recitation of a provision in this Indenture, such Note Guarantee or the Notes (as certified in an
Officers’ Certificate). 
 Upon the written request of the Company, accompanied by a copy of the resolutions of the Board
of Directors certified by the General Partner’s Secretary or Assistant Secretary authorizing the execution of any supplemental indenture, the Trustee is hereby authorized to join with the Company and the Guarantor in the execution of any such
supplemental indenture, to make any further appropriate agreements and stipulations that may be therein contained and to accept the conveyance, transfer and assignment of any property thereunder, but the Trustee shall not be obligated to, but may in
its discretion, enter into any supplemental indenture that affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

Any supplemental indenture authorized by the provisions of this Section 9.01 may be executed by the Company, the Guarantor and the
Trustee without the consent of the Holders of any of the Notes at the time outstanding, notwithstanding any of the provisions of Section 9.02. 

Section 9.02 With Consent of Holders of Notes. 

With the consent (evidenced as provided in Article 8) of the Holders of not less than a majority in aggregate principal amount of the
Notes at the time outstanding, the Company, the Guarantor and the Trustee may, from time to time and at any time, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Indenture or any supplemental indenture or modifying in any manner the rights of the Holders of the Notes; provided that no such supplemental indenture shall, without the consent of the Holder of each
Note so affected: 
 (a) change the Stated Maturity of the principal of or any installment of interest on the Notes, reduce the
principal amount of, or the rate or amount of interest on, or any premium payable on redemption of, the Notes, or adversely affect any right of repayment of the Holder of the Notes, change the place of payment, or the coin or currency, for payment
of principal of or interest or premium on any Note or impair the right to institute suit for the enforcement of any payment on or with respect to the Notes; 
  

 50 

 (b) reduce the percentage in principal amount of the outstanding Notes necessary to modify
or amend this Indenture, to waive compliance with certain provisions of this Indenture or certain defaults and their consequences provided in this Indenture, or to reduce the requirements of quorum or change voting requirements set forth in this
Indenture; 
 (c) modify or affect in any manner adverse to the Holders the terms and conditions of the obligations of the
Guarantor in respect of the payment of principal and interest and premium; or 
 (d) modify any of this Section 9.02 or
Section 6.07 or any of the provisions relating to the waiver of certain past defaults or certain covenants, except to increase the required percentage to effect the action or to provide that certain other provisions may not be modified or
waived without the consent of the Holders of the Notes. 
 Upon the written request of the Company, accompanied by a copy of the
resolutions of the Board of Directors certified by the General Partner’s Secretary or Assistant Secretary authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Holders
as aforesaid, the Trustee shall join with the Company and the Guarantor in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise,
in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture. 
 It
shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 

Section 9.03 Effect of Supplemental Indenture. 

Any supplemental indenture executed pursuant to the provisions of this Article 9 shall comply with the TIA, as then in effect;
provided that this Section 9.03 shall not require such supplemental indenture or the Trustee to be qualified under the TIA prior to the time, if ever, such qualification is in fact required under the terms of the TIA or the Indenture has
been qualified under the TIA, nor shall it constitute any admission or acknowledgment by any party to such supplemental indenture that any such qualification is required prior to the time, if ever, such qualification is in fact required under the
terms of the TIA or the Indenture has been qualified under the TIA. Upon the execution of any supplemental indenture pursuant to the provisions of this Article 9, this Indenture shall be and be deemed to be modified and amended in accordance
therewith and the respective rights, limitation of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the Holders of Notes shall thereafter be determined, exercised and enforced hereunder, subject in all
respects to such modifications and amendments and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 

 

 51 

 Section 9.04 Notation on Notes. 

Notes authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this Article 9 may bear
a notation in form satisfactory to the Trustee as to any matter provided for in such supplemental indenture. If the Company or the Trustee shall so determine, new Notes so modified as to conform, in the opinion of the Company, to any modification of
this Indenture contained in any such supplemental indenture may, at the Company’s expense, be prepared and executed by the Company, authenticated by the Trustee (or an authenticating agent duly appointed by the Trustee pursuant to
Section 16.11) and delivered in exchange for the Notes then outstanding, upon surrender of such Notes then outstanding. 

Section 9.05 Evidence of Compliance of Supplemental Indenture to Be Furnished to Trustee. 

Prior to entering into any supplemental indenture pursuant to this Article 9, the Trustee shall be provided with an Officers’
Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant hereto complies with the requirements of this Article 9 and is otherwise authorized or permitted by this Indenture. 

ARTICLE 10 

CONSOLIDATION, MERGER, SALE CONVEYANCE AND LEASE 

Section 10.01 Company May Consolidate on Certain Terms. 

Nothing contained in this Indenture or in the Notes shall prevent any consolidation or merger of the Company with or into any other Person
or Persons (whether or not affiliated with the Company), or successive consolidations or mergers in which either the Company will be the continuing entity or the Company or its successor or successors shall be a party or parties, or shall prevent
any sale, conveyance, transfer or lease of all or substantially all of the property of the Company, to any other Person (whether or not affiliated with the Company); provided, however, that the following conditions are met: 

(a) the Company shall be the continuing entity, or the successor entity (if other than the Company) formed by or resulting from any
consolidation or merger or which shall have received the transfer of assets shall expressly assume payment of the principal of and interest on all of the Notes and the due and punctual performance and observance of all of the covenants and
conditions in this Indenture; 
 (b) immediately after giving effect to such transaction, no Default or Event of Default shall
have occurred and be continuing; and 
 (c) either the Company or the successor Person, in either case, shall have delivered to
the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, sale, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such
supplemental indenture, comply with this Section 10.01 and that all conditions precedent herein provided for relating to such transaction have been complied with. 

Except in the case of a substantially concurrent consolidation, merger, sale, conveyance, transfer or lease of all or substantially all
of the property of the Guarantor in compliance with Section 10.03, no such consolidation, merger, sale, conveyance, transfer or lease shall be permitted by this Section 10.01 unless prior thereto the Guarantor shall have delivered to the
Trustee a Guarantor’s Officers’ Certificate and an Opinion of Counsel, each stating that the Guarantor’s obligations hereunder shall remain in full force and effect thereafter. 

 

 52 

 Section 10.02 Company Successor to Be Substituted. 

Upon any consolidation by the Company with or merger of the Company into any other Person or any sale, conveyance, transfer or lease of
all or substantially all of the properties and assets of the Company to any Person in accordance with Section 10.01 hereof, the successor Person formed by such consolidation or into which the Company is merged or to which such sale, conveyance,
transfer or lease 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 such successor Person had been named as the Company herein, and thereafter the
predecessor Person shall be released from all obligations and covenants under this Indenture and the Company; provided, however, that the predecessor Company shall not be relieved from the obligation to pay the principal of and interest on
the Notes except in the case of a sale of all or substantially all of the Company’s assets in a transaction that is subject to, and that complies with the provisions of, Section 10.01 hereof. 

In case of any such consolidation, merger, sale, conveyance, transfer or lease, such changes in phraseology and form (but not in
substance) may be made in the Notes thereafter to be issued as may be appropriate. 
 Section 10.03 Guarantor May Consolidate on Certain
Terms. 
 Nothing contained in this Indenture or in the Notes shall prevent any consolidation or merger of the Guarantor with
or into any other Person or Persons (whether or not affiliated with the Guarantor), or successive consolidations or mergers in which either the Guarantor will be the continuing entity or the Guarantor or its successor or successors shall be a party
or parties, or shall prevent any sale, conveyance, transfer or lease of all or substantially all of the property of the Guarantor, to any other Person (whether or not affiliated with the Guarantor); provided, however, that the following
conditions are met: 
 (a) the Guarantor shall be the continuing entity, or the successor entity (if other than the Guarantor)
formed by or resulting from any consolidation or merger or which shall have received the transfer of assets shall expressly assume the obligations of the Guarantor under the Note Guarantee and the due and punctual performance and observance of all
of the covenants and conditions in this Indenture; 
 (b) immediately after giving effect to such transaction, no Default or
Event of Default shall have occurred and be continuing; and 
 (c) either the Guarantor or the successor Person, in either case,
shall have delivered to the Trustee an Officers’ Certificate of the Guarantor and an Opinion of Counsel, each stating that such consolidation, sale, merger, conveyance, transfer or lease and such supplemental indenture comply with this
Section 10.03 and that all conditions precedent herein provided for relating to such transaction have been complied with. 

Section 10.04 Guarantor Successor to Be Substituted. 

Upon any consolidation or merger or any sale, conveyance, transfer or lease of all or substantially all of the properties and assets of
the Guarantor to any Person in accordance with Section 10.03, the successor Person formed by such consolidation or into which the Guarantor is merged or to which such sale, conveyance, transfer or lease is made shall succeed to, and be
substituted for, and may exercise every right and power of, the Guarantor under this Indenture with the same effect as if such successor Person had been named as the Guarantor herein, and thereafter, the predecessor Person shall be released from all
obligations and covenants under this Indenture; provided, however, that the predecessor 
  

 53 

 
Guarantor shall not be relieved from the obligation to guarantee the payment of the principal of and interest on the Notes except in the case of a sale of all or substantially all of the
Guarantor’s assets in a transaction that is subject to, and that complies with the provisions of, Section 10.03 hereof. 

In case of any such consolidation, merger, sale, conveyance, transfer or lease, such changes in phraseology and form (but not in
substance) may be made in the Notes thereafter to be issued as may be appropriate. 
 ARTICLE 11 

SATISFACTION AND DISCHARGE OF INDENTURE 

Section 11.01 Discharge of Indenture. 

This Indenture shall cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of Notes
herein expressly provided for and except as further provided below), and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when (a) either:
(1) all Notes theretofore authenticated and delivered (other than (i) Notes which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 11.04 and (ii) Notes for whose payment money has
theretofore been deposited in trust and thereafter repaid to the Company as provided in Section 11.04) have been delivered to the Trustee for cancellation; or (2) all such Notes not theretofore delivered to the Trustee for cancellation
(i) have become due and payable, whether at the Maturity Date or otherwise, or (ii) are to be called for redemption 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, in the case of clause (1) or (2) above, has irrevocably deposited or caused to be irrevocably deposited with the Trustee or a Paying Agent, as applicable, as trust funds in trust cash in an
amount sufficient to pay and discharge the entire indebtedness on such Notes not theretofore delivered to the Trustee for cancellation, for principal and interest to the date of such deposit (in the case of Notes which have become due and payable)
or to the Maturity Date or Redemption Date, as the case may be; provided, however, that there shall not exist, on the date of such deposit, a Default or Event of Default; provided, further, that such deposit shall 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 to which the Company is bound; (b) the Company has paid or caused to be paid all other sums payable
hereunder by the Company; and (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 7.06 shall survive and, if money shall have been deposited with the Trustee pursuant to subclause (2) of clause (a) of the first paragraph of this Section, the provisions of Sections 2.06,
2.07, 2.08, 5.01 and this Article 11, shall survive until the Notes have been paid in full. 
 Section 11.02 Deposited Monies to Be Held
in Trust by Trustee. 
 Subject to Section 11.04, all monies deposited with the Trustee pursuant to Section 7.05
shall be held in trust for the sole benefit of the Holders, and such monies shall be applied by the Trustee to the payment, either directly or through any Paying Agent (including the Company if acting as its own Paying Agent), to the Holders of the
particular Notes for the payment or redemption of which such monies have been deposited with the Trustee, of all sums due and to become due thereon for principal, premium, if any, and interest. The Trustee is not responsible to anyone for interest
on any deposited funds except as agreed in writing. 
  

 54 

 Section 11.03 Paying Agent to Repay Monies Held. 

Subject to the provisions of Section 11.04, the Trustee or a Paying Agent shall hold in trust, for the benefit of the Holders, all
money deposited with it pursuant to Section 11.01 and shall apply the deposited money in accordance with this Indenture and the Notes to the payment of the principal of (including the Redemption Price upon redemption pursuant to Article 3) and
interest on the Notes. 
 Section 11.04 Return of Unclaimed Monies. 

The Trustee and each Paying Agent shall pay to the Company upon request any money held by them for the payment of principal or interest
that remains unclaimed for two (2) years after a right to such money has matured; provided, however, that the Trustee or such Paying Agent, before being required to make any such payment, may, at the expense of the Company, either
publish in a newspaper of general circulation in The City of New York, or cause to be mailed to each Holder entitled to such money, notice that such money remains unclaimed and that after a date specified therein, which shall be at least thirty
(30) calendar days from the date of such mailing or publication, any unclaimed balance of such money then remaining will be repaid to the Company. After payment to the Company, Holders entitled to money must look to the Company for payment as
general creditors unless an applicable abandoned property law designates another person, and the Trustee and each Paying Agent shall be relieved of all liability with respect to such money. 

Section 11.05 Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with Section 11.02 by reason of any order or judgment
of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to
Section 11.01 until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with Section 11.02; provided that if the Company makes any payment of principal of or interest on any Note following
the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

ARTICLE 12 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

Section 12.01 Option to Effect Legal Defeasance or Covenant Defeasance. 

The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate,
elect to have either Section 12.02 or 12.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 12. 

Section 12.02 Legal Defeasance and Discharge. 

Upon the Company’s exercise under Section 12.01 hereof of the option applicable to this Section 12.02, the Company and the
Guarantor will, subject to the satisfaction of the conditions set forth in Section 12.04 hereof, be deemed to have been discharged from their obligations with respect to all outstanding Notes and Note Guarantees on the date the conditions set
forth below are satisfied 
  

 55 

 
(hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company and the Guarantor will be deemed to have paid and discharged the entire Indebtedness
represented by the outstanding Notes and Note Guarantees, which will thereafter be deemed to be “outstanding” only for the purposes of Section 12.05 hereof and the other Sections of this Indenture referred to in clauses (a) and
(b) below, and to have satisfied all their other obligations under such Notes, the Note Guarantees and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same),
except for the following provisions which will survive until otherwise terminated or discharged hereunder: 
 (a) the rights of
Holders of outstanding Notes to receive payments in respect of the principal of, or interest or premium and Liquidated Damages, if any, on, such Notes when such payments are due from the trust referred to in Section 12.04 hereof; 

(b) the Company’s obligations with respect to such Notes under Article 2 and Section 4.02 hereof; 

(c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Company’s and the Guarantor’s
obligations in connection therewith; and 
 (d) this Article 12. 

Subject to compliance with this Article 12, the Company may exercise its option under this Section 12.02 notwithstanding the prior
exercise of its option under Section 12.03 hereof. 
 Section 12.03 Covenant Defeasance. 

Upon the Company’s exercise under Section 12.01 hereof of the option applicable to this Section 12.03, the Company and the
Guarantor will, subject to the satisfaction of the conditions set forth in Section 12.04 hereof, be released from each of their obligations under the covenants contained in Sections 4.10, 4.11, 4.12 and 4.13 with respect to the outstanding
Notes on and after the date the conditions set forth in Section 12.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the Notes will thereafter be deemed not “outstanding” for the purposes of any
direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed “outstanding” for all other purposes hereunder (it being understood that
such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes and Note Guarantees, the Company and the Guarantor may omit to comply with and will have no
liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any
other provision herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes and Note
Guarantees will be unaffected thereby. In addition, upon the Company’s exercise under Section 12.01 hereof of the option applicable to this Section 12.03, subject to the satisfaction of the conditions set forth in Section 12.04
hereof, Sections 6.01(c) and 6.01(d) hereof will not constitute Events of Default. 
  

 56 

 Section 12.04 Conditions to Legal or Covenant Defeasance. 

In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 12.02 or 12.03 hereof: 

(a) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars, non-callable
Government Securities, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized investment bank, appraisal firm, or firm of independent public accountants, to pay the principal of, premium and
Liquidated Damages, if any, and interest on, the outstanding Notes on the stated date for payment thereof or on the applicable Redemption Date, as the case may be, and the Company must specify whether the Notes are being defeased to such stated date
for payment or to a particular Redemption Date; 
 (b) in the case of an election under Section 12.02 hereof, the Company
must deliver to the Trustee an Opinion of Counsel confirming that: 
 (1) the Company has received from, or there
has been published by, the Internal Revenue Service a ruling; or 
 (2) since the date 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 outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Legal 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 Legal Defeasance had not occurred; 
 (c) in the case of
an election under Section 12.03 hereof, the Company must deliver to the Trustee an Opinion of Counsel confirming that the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of
such 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 Covenant Defeasance had not occurred; 

(d) no Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or Event of
Default resulting from the borrowing of funds to be applied to such deposit (and any similar concurrent deposit relating to other indebtedness being defeased, discharged or replaced), and the granting of liens to secure such borrowings); 

(e) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material
agreement or instrument (other than this Indenture and the agreements governing any other indebtedness being defeased, discharged or replaced) to which the Company or the Guarantor is a party or by which the Company or the Guarantor is bound;

 (f) the Company must deliver to the Trustee an Officers’ Certificate stating that the deposit was not made by the
Company with the intent of preferring the Holders of Notes over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; and 

(g) the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 
  

 57 

 Section 12.05 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous
Provisions. 
 Subject to Section 12.06 hereof, all money and non-callable Government Securities (including the proceeds
thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 12.05, the “Trustee”) pursuant to Section 12.04 hereof in respect of the outstanding Notes will be held in trust
and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders
of such Notes of all sums due and to become due thereon in respect of principal, premium and Liquidated Damages, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. 

The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or
non-callable Government Securities deposited pursuant to Section 12.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the
outstanding Notes. 
 Notwithstanding anything in this Article 12 to the contrary, the Trustee will deliver or pay to the
Company from time to time upon the request of the Company any money or non-callable Government Securities held by it as provided in Section 12.04 hereof which, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 12.04(a) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent
Legal Defeasance or Covenant Defeasance. 
 Section 12.06 Repayment to Company. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of,
premium or Liquidated Damages, if any, or interest on, any Note and remaining unclaimed for two (2) years after such principal, premium or Liquidated Damages, if any, or interest has become due and payable shall be paid to the Company on its
request or (if then held by the Company) will be discharged from such trust; and the Holder of such Note will thereafter be permitted to look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect
to such trust money, and all liability of the Company as trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company
cause to be published once, in the New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which will not be less than thirty (30) days from the date of
such notification or publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
 Section 12.07
Reinstatement. 
 If the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable Government Securities in
accordance with Section 12.02 or 12.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s and the
Guarantor’s obligations under this Indenture and the Notes and the Note Guarantees will be revived and reinstated as though no deposit had occurred pursuant to Section 12.02 or 12.03 hereof until such time as the Trustee or Paying Agent is
permitted to apply all such money in accordance with Section 12.02 or 12.03 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium or Liquidated Damages, if any, or interest on, any
Note following the reinstatement of its obligations, the Company will be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

 

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 ARTICLE 13 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 

Section 13.01 Indenture and Notes Solely Corporate Obligations. 

Except as otherwise expressly provided in Article 15, no recourse for the payment of the principal of (including the Redemption Price upon
redemption pursuant to Article 3) or, premium, if any, or interest, or Liquidated Damages, if any, on any Note, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of
the Company in this Indenture or in any supplemental indenture or in any Note, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, partner, member, manager, employee, agent,
officer, director or subsidiary, as such, past, present or future, of the General Partner, the Company or any of the Company’s subsidiaries or of any successor thereto, either directly or through the Company or any of the Company’s
subsidiaries or any successor thereto, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived
and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the Notes. 

ARTICLE 14 

MEETINGS OF HOLDERS OF NOTES 

Section 14.01 Purposes for Which Meetings May Be Called. 

A meeting of Holders of Notes may be called at any time and from time to time pursuant to this Article 14 to make, give or take any
request, demand, authorization, direction, notice, consent, waiver or other act provided by this Indenture to be made, given or taken by Holders of Notes. 

Section 14.02 Call, Notice and Place of Meetings. 

(a) The Trustee may at any time call a meeting of Holders of Notes for any purpose specified in Section 14.01, to be held at such
time and at such place in The City of New York, New York as the Trustee shall determine. Notice of every meeting of Holders of Notes, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such
meeting, shall be given, in the manner provided in Section 16.03, not less than 21 nor more than 180 days prior to the date fixed for the meeting. 

(b) In case at any time the Company, the Guarantor or the Holders of at least 10% in principal amount of the outstanding Notes shall have
requested the Trustee to call a meeting of the Holders of Notes for any purpose specified in Section 14.01, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have
mailed notice of or made the first publication of the notice of such meeting within 21 days after receipt of such request or shall not thereafter proceed to cause the meeting to be held as provided herein, then the Company, the Guarantor, if
applicable, or the Holders of Notes in the amount above specified, as the case may be, may determine the time and the place in the City of New York, New York, for such meeting and may call such meeting for such purposes by giving notice thereof as
provided in clause (a) of this Section. 
  

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 Section 14.03 Persons Entitled to Vote at Meetings. 

To be entitled to vote at any meeting of Holders of Notes, a Person shall be (a) a Holder of one or more outstanding Notes, or
(b) a Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more outstanding Notes by such Holder or Holders. The only Persons who shall be entitled to be present or to speak at any meeting of Holders of Notes
shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel, any representatives of the Guarantor and its counsel and any representatives of the Company and its counsel. 

Section 14.04 Quorum; Action. 

The Persons entitled to vote a majority in principal amount of the outstanding Notes shall constitute a quorum for a meeting of Holders of
Notes; provided, however, that if any action is to be taken at the meeting with respect to a consent or waiver which may be given by the Holders of not less than a specified percentage in principal amount of the outstanding Notes, the Persons
holding or representing the specified percentage in principal amount of the outstanding Notes will constitute a quorum. In the absence of a quorum within thirty (30) minutes after the time appointed for any such meeting, the meeting shall, if
convened at the request of Holders of Notes, be dissolved. In any other case the meeting may be adjourned for a period of not less than ten (10) days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the
absence of a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less than ten (10) days as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting.
Notice of the reconvening of any adjourned meeting shall be given as provided in Section 14.02, except that such notice need be given only once not less than five (5) days prior to the date on which the meeting is scheduled to be
reconvened. Notice of the reconvening of an adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of the outstanding Notes which shall constitute a quorum. 

Except as limited by the proviso to Section 9.02, any resolution presented to a meeting or adjourned meeting duly reconvened at
which a quorum is present as aforesaid may be adopted only by the affirmative vote of the Holders of a majority in principal amount of the outstanding Notes; provided, however, that, except as limited by the proviso to Section 9.02, any
resolution with respect to any request, demand, authorization, direction, notice, consent, waiver or other action which this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage, which is less than a
majority, in principal amount of the outstanding Notes may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote of the Holders of such specified percentage in principal
amount of the outstanding Notes. 
 Any resolution passed or decision taken at any meeting of Holders of Notes duly held in
accordance with this Section 14.04 shall be binding on all the Holders of Notes, whether or not such Holders were present or represented at the meeting. 

Section 14.05 Determination of Voting Rights; Conduct and Adjournment of Meetings. 

(a) Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for
any meeting of Holders of Notes in regard to proof of the holding of Notes and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other
evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. Except as otherwise permitted or required by any such regulations, the holding of Notes shall be proved in the manner specified
in Section 8.03 and the appointment of any proxy shall be proved in the manner specified in Section 8.01. 
  

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 (b) The Trustee shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders of Notes as provided in Section 14.02(b), in which case the Company, the Guarantor or the Holders of Notes calling the meeting, as the case may be, shall in like
manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in principal amount of the outstanding Notes of such series represented at the
meeting. 
 (c) At any meeting, each Holder of a Note or proxy shall be entitled to one (1) vote for each $1,000 principal
amount of Notes held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Note challenged as not outstanding and ruled by the chairman of the meeting to be not outstanding. The
chairman of the meeting shall have no right to vote, except as a Holder of a Note or proxy. 
 (d) Any meeting of Holders of
Notes duly called pursuant to Section 14.02 at which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority in principal amount of the outstanding Notes represented at the meeting; and the meeting may be
held as so adjourned without further notice. 
 Section 14.06 Counting Votes and Recording Action of Meetings. 

The vote upon any resolution submitted to any meeting of Holders shall be by written ballots on which shall be subscribed the signatures
of the Holders or of their representatives by proxy and the principal amounts and serial numbers of the outstanding Notes held or represented by them. The permanent chairman of the meeting shall appoint two (2) inspectors of votes who shall
count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in triplicate of all votes cast at the meeting. A record, at least in triplicate, of the
proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more
persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was given as provided in Section 14.02 and, if applicable, Section 14.04. Each copy shall be signed and verified by the
affidavits of the permanent chairman and secretary of the meeting and one (1) such copy shall be delivered to the Company and the Guarantor, and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the
ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters therein stated. 

ARTICLE 15 

GUARANTEE 

Section 15.01 Note Guarantee. 

By its execution hereof, the Guarantor acknowledges and agrees that it receives substantial benefits from the Company and that the
Guarantor is providing its Note Guarantee for good and valuable consideration, including, without limitation, such substantial benefits. Accordingly, subject to the provisions of this Article 15, the Guarantor hereby unconditionally guarantees to
each Holder of a Note authenticated and delivered by the Trustee and its successors and assigns that: (i) the principal of (including the Redemption Price upon redemption pursuant to Article 3), premium, if any, and interest

  

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and Liquidated Damages, if any, on the Notes shall be duly and punctually paid in full when due, whether at the Maturity Date, upon acceleration, upon redemption or otherwise, and interest on
overdue principal, premium, if any, Liquidated Damages, if any, and (to the extent permitted by law) interest on any interest, if any, on the Notes and all other obligations of the Company to the Holders or the Trustee hereunder or under the Notes
(including fees, expenses or other) shall be promptly paid in full or performed, all in accordance with the terms hereof; and (ii) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, the same
shall be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at the Maturity Date, by acceleration, call for redemption or otherwise, subject, however, in the case of clauses (i) and
(ii) above, to the limitations set forth in Section 15.03 hereof (collectively, the “Guarantee Obligations”). 

Subject to the provisions of this Article 15, the Guarantor hereby agrees that its Note Guarantee hereunder shall be unconditional,
irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any thereof, the entry of any judgment against
the Company, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of the Guarantor. The Guarantor hereby waives and relinquishes: (a) any right to require the
Trustee, the Holders or the Company (each, a “Benefited Party”) to proceed against the Company or any other Person or to proceed against or exhaust any security held by a Benefited Party at any time or to pursue any other remedy in
any secured party’s power before proceeding against the Guarantor; (b) any defense that may arise by reason of the incapacity, lack of authority, death or disability of any other Person or Persons or the failure of a Benefited Party to
file or enforce a claim against the estate (in administration, bankruptcy or any other proceeding) of any other Person or Persons; (c) demand, protest and notice of any kind (except as expressly required by this Indenture), including but not
limited to notice of the existence, creation or incurring of any new or additional indebtedness or obligation or of any action or non-action on the part of the Guarantor, the Company, any Benefited Party, any creditor of the Guarantor or the Company
or on the part of any other Person whomsoever in connection with any obligations the performance of which are hereby guaranteed; (d) any defense based upon an election of remedies by a Benefited Party, including but not limited to an election
to proceed against the Guarantor for reimbursement; (e) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the
principal; (f) any defense arising because of a Benefited Party’s election, in any proceeding instituted under the Bankruptcy Law, of the application of Section 1111(b)(2) of the Bankruptcy Code; and (g) any defense based on any
borrowing or grant of a security interest under Section 364 of the Bankruptcy Code. The Guarantor hereby covenants that, except as otherwise provided therein, the Note Guarantee shall not be discharged except by payment in full of all Guarantee
Obligations, including the principal, premium, if any, and interest on the Notes and all other costs provided for under this Indenture or as provided in Article 7. 

If any Holder or the Trustee is required by any court or otherwise to return to either the Company or the Guarantor, or any trustee or
similar official acting in relation to either the Company or the Guarantor, any amount paid by the Company or the Guarantor to the Trustee or such Holder, the Note Guarantee, to the extent theretofore discharged, shall be reinstated in full force
and effect. The Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any Guarantee Obligations hereby until payment in full of all such obligations guaranteed hereby. The Guarantor
agrees that, as between it, on the one hand, and the Holders of Notes and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the purposes hereof,
notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guarantee Obligations, and (y) in the event of any acceleration of such obligations as provided in Article 6 hereof, such Guarantee
Obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantor for the purpose of the Note Guarantee. 
  

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 Section 15.02 Execution and Delivery of Note Guarantee. 

To evidence the Note Guarantee set forth in Section 15.01 hereof, the Guarantor agrees that a notation of the Guarantee substantially
in the form included in Exhibit E hereto shall be endorsed on each Note authenticated and delivered by the Trustee and that this Indenture shall be executed on behalf of the Guarantor by an officer of the Guarantor. 

The Guarantor agrees that the Note Guarantee set forth in this Article 15 shall remain in full force and effect and apply to all the
Notes notwithstanding any failure to endorse on each Note a notation of the Note Guarantee. 
 If an officer whose facsimile
signature is on a Note or a notation of Note Guarantee no longer holds that office at the time the Trustee authenticates the Note on which the Note Guarantee is endorsed, the Note Guarantee shall be valid nevertheless. 

The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Note Guarantee
set forth in this Indenture on behalf of the Guarantor. 
 Section 15.03 Limitation of Guarantor’s Liability; Certain Bankruptcy
Events. 
 (a) The Guarantor, and by its acceptance hereof each Holder, hereby confirms that it is the intention of all such
parties that the Guarantee Obligations of the Guarantor pursuant to its Note Guarantee not constitute a fraudulent transfer or conveyance for purposes of any Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act
or any similar federal or state law. To effectuate the foregoing intention, the Holders and the Guarantor hereby irrevocably agree that the Guarantee Obligations of the Guarantor under this Article 15 shall be limited to the maximum amount as shall,
after giving effect to all other contingent and fixed liabilities of the Guarantor, result in the Guarantee Obligations of the Guarantor under the Note Guarantee not constituting a fraudulent transfer or conveyance. 

(b) The Guarantor hereby covenants and agrees, to the fullest extent that it may do so under applicable law, that in the event of the
insolvency, bankruptcy, dissolution, liquidation or reorganization of the Company, the Guarantor shall not file (or join in any filing of), or otherwise seek to participate in the filing of, any motion or request seeking to stay or to prohibit (even
temporarily) execution on the Note Guarantee and hereby waives and agrees not to take the benefit of any such stay of execution, whether under Section 362 or 105 of the Bankruptcy Law or otherwise. 

Section 15.04 Application of Certain Terms and Provisions to the Guarantor. 

(a) For purposes of any provision of this Indenture which provides for the delivery by the Guarantor of an Officers’ Certificate
and/or an Opinion of Counsel, the definitions of such terms in Section 1.01 hereof shall apply to the Guarantor as if references therein to the Company or the General Partner, as applicable, were references to the Guarantor. 

(b) Any request, direction, order or demand which by any provision of this Indenture is to be made by the Guarantor shall be sufficient
if evidenced as described in Section 16.05 hereof as if references therein to the Company were references to the Guarantor. 
  

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 (c) Any notice or demand which by any provision of this Indenture is required or permitted
to be given or served by the Trustee or by the Holders of Notes to or on the Guarantor may be given or served as described in Section 16.03 hereof as if references therein to the Company were references to the Guarantor. 

(d) Upon any demand, request or application by the Guarantor to the Trustee to take any action under this Indenture, the Guarantor shall
furnish to the Trustee such certificates and opinions as are required in Section 16.05 hereof as if all references therein to the Company were references to the Guarantor. 

ARTICLE 16 

MISCELLANEOUS PROVISIONS 

Section 16.01 Provisions Binding on Company’s and Guarantor’s Successors. 

All the covenants, stipulations, promises and agreements by the Company or the Guarantor contained in this Indenture shall bind their
respective successors and assigns whether so expressed or not. 
 Section 16.02 Official Acts by Successor Corporation. 

Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or officer
of the Company shall and may be done and performed with like force and effect by the like board, committee or officer of any Person that shall at the time be the lawful sole successor of the Company or the Guarantor. 

Section 16.03 Addresses for Notices, etc. 

Any notice or demand which by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the
Holders of Notes on the Company or the Guarantor shall be in writing and shall be deemed to have been sufficiently given or made, for all purposes, if given or served by being deposited postage prepaid by registered or certified mail in a post
office letter box, or sent by overnight courier, or sent by telecopier transmission addressed as follows: 
 To the Company:

 Digital Realty Trust, L.P. 

560 Mission Street, Suite 2900 

San Francisco, California 94105 

Telecopier No.: (415) 738-6521 

Attention: General Counsel 

To the Guarantor: 

Digital Realty Trust, Inc. 

560 Mission Street, Suite 2900 

San Francisco, California 94105 

Telecopier No.: (415) 738-6521 

Attention: General Counsel 
  

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 Any notice, direction, request or demand hereunder to or upon the Trustee shall be deemed to
have been sufficiently given or made, for all purposes, if given or served by being deposited, postage prepaid, by registered or certified mail in a post office letter box, or sent by overnight courier, or sent by telecopier transmission addressed
as follows: 
 Deutsche Bank Trust Company Americas 

60 Wall Street 

MS NYC60-2710 

New York, New York 10005 

Telecopier No.: (732) 578-4635 

Attention: Trust & Securities Services 

With a copy to: 

Deutsche Bank National Trust Company 

100 Plaza One – 6th Floor 

MSJCY03-0699 

Jersey City, New Jersey 07311 

Telecopier No.: (732) 578-4635 

Attention: Trust & Securities Services 

The Trustee, by notice to the Company, may designate additional or different addresses for subsequent notices or communications.

 Any notice or communication mailed to a Holder shall be mailed by first class mail, postage prepaid, at such Holder’s
address as it appears on the Register and shall be sufficiently given to such Holder if so mailed within the time prescribed. 

Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders.
If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 

Section 16.04 Governing Law. 

This Indenture shall be governed by, and construed in accordance with, the laws of the State of New York without regard to conflict of law
principles that would result in the application of any laws other than the laws of the State of New York. 
 Section 16.05 Evidence of
Compliance with Conditions Precedent, Certificates to Trustee. 
 Upon any application or demand by the Company to the
Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed
action have been complied with, and, if requested by the Trustee, an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 

Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or
covenant provided for in this Indenture shall include: (1) a statement that the person making such certificate or opinion has read such covenant or condition; (2) a brief statement as to the nature and scope of the examination or
investigation upon which the statement or opinion contained in such certificate or opinion is based; (3) a statement that, in the opinion of such 

 

 65 

 
person, such person has made such examination or investigation as is necessary to enable such person to express an informed opinion as to whether or not such covenant or condition has been
complied with; and (4) a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with; provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an
Officers’ Certificate or certificates of public officials. 
 Section 16.06 Legal Holidays. 

In any case in which the Maturity Date of interest on or principal of the Notes or the Redemption Date of any Note will not be a Business
Day, then payment of such interest on or principal of the Notes need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the Maturity Date or the Redemption Date, and no interest
shall accrue for the period from and after such date. 
 Section 16.07 TIA. 

This Indenture is hereby made subject to, and shall be governed by, the provisions of the TIA required to be part of and to govern
indentures qualified under the TIA; provided that this Section 16.07 shall not require this Indenture or the Trustee to be qualified under the TIA prior to the time such qualification is in fact required under the terms of the TIA, nor
shall it constitute any admission or acknowledgment by any party to the Indenture that any such qualification is required prior to the time such qualification is in fact required under the terms of the TIA. If any provision hereof limits, qualifies
or conflicts with another provision hereof which is required to be included in an indenture qualified under the TIA, such required provision shall control. 

Section 16.08 No Security Interest Created. 

Nothing in this Indenture or in the Notes, expressed or implied, shall be construed to constitute a security interest under the Uniform
Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction in which property of the Company or its subsidiaries is located. 

Section 16.09 Benefits of Indenture. 

Nothing in this Indenture or in the Notes, express or implied, shall give to any Person, other than the parties hereto, any Paying Agent,
any authenticating agent, any Registrar and their successors hereunder and the Holders of Notes any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 16.10 Table of Contents, Headings, etc. 

The table of contents and the titles 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 16.11 Authenticating Agent. 

The Trustee may appoint an authenticating agent that shall be authorized to act on its behalf, and subject to its direction, in the
authentication and delivery of Notes in connection with the original issuance thereof and transfers and exchanges of Notes hereunder, including under Sections 2.04, 2.06, 2.07, 2.08 and 3.03, as fully to all intents and purposes as though the
authenticating agent had been 
  

 66 

 
expressly authorized by this Indenture and those Sections to authenticate and deliver Notes. For all purposes of this Indenture, the authentication and delivery of Notes by the authenticating
agent shall be deemed to be authentication and delivery of such Notes “by the Trustee” and a certificate of authentication executed on behalf of the Trustee by an authenticating agent shall be deemed to satisfy any requirement hereunder or
in the Notes for the Trustee’s certificate of authentication. Such authenticating agent shall at all times be a Person eligible to serve as trustee hereunder pursuant to Section 7.09. 

Any corporation into which any authenticating agent may be merged or exchanged or with which it may be consolidated, or any corporation
resulting from any merger, consolidation or exchange to which any authenticating agent shall be a party, or any corporation succeeding to the corporate trust business of any authenticating agent, shall be the successor of the authenticating agent
hereunder, if such successor corporation is otherwise eligible under this Section 16.11, without the execution or filing of any paper or any further act on the part of the parties hereto or the authenticating agent or such successor
corporation. 
 Any authenticating agent may at any time resign by giving written notice of resignation to the Trustee and to
the Company. The Trustee may at any time terminate the agency of any authenticating agent by giving written notice of termination to such authenticating agent and to the Company. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time any authenticating agent shall cease to be eligible under this Section, the Trustee shall either promptly appoint a successor authenticating agent or itself assume the duties and obligations of the former
authenticating agent under this Indenture and, upon such appointment of a successor authenticating agent, if made, shall give written notice of such appointment of a successor authenticating agent to the Company and shall mail notice of such
appointment of a successor authenticating agent to all Holders of Notes as the names and addresses of such Holders appear on the Register. 

The Company agrees to pay to the authenticating agent from time to time such reasonable compensation for its services as shall be agreed
upon in writing between the Company and the authenticating agent. 
 The provisions of Sections 7.02, 7.03, 7.04 and 8.03 and
this Section 16.11 shall be applicable to any authenticating agent. 
 Section 16.12 Execution in Counterparts. 

This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together
constitute but one and the same instrument. 
 Section 16.13 Severability. 

In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, then (to the extent permitted by law)
the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Deutsche Bank Trust Company Americas hereby accepts the trusts in this Indenture declared and provided, upon the terms and conditions
herein above set forth 
  

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 Section 16.14 USA Patriot Act. 

The parties hereto acknowledge that, in accordance with Section 326 of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into
law October 26, 2001)) (as amended, modified or supplemented from time to time, the “USA Patriot Act”), the Trustee, like all financial institutions, is required to obtain, verify, and record information that identifies each person or
legal entity that opens an account. Each party to this Indenture agrees that it will provide the Trustee with such information as the Trustee may request that is in such party’s possession in order for the Trustee to satisfy the requirements of
the USA Patriot Act. 
 [Signatures on following page] 

 

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 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed. 

 

			
	 DIGITAL REALTY TRUST, L.P.,

as the Company

		
	By:	 	 Digital Realty Trust, Inc.

Its Sole General Partner

		
	By:	 	 /s/ A. William Stein

	Name:	 	A. William Stein
	Title:	 	Chief Financial Officer, Chief Investment Officer and Secretary
	
	 DIGITAL REALTY TRUST, INC.,

as the Guarantor

		
	By:	 	 /s/ A. William Stein

	Name:	 	A. William Stein
	Title:	 	Chief Financial Officer, Chief Investment Officer and Secretary
	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as the Trustee
		
	By:	 	 /s/ Wanda Camacho

	Name:	 	Wanda Camacho
	Title:	 	Vice President
		
	By:	 	 /s/ Carol Ng

	Name:	 	Carol Ng
	Title:	 	Vice President

 EXHIBIT A 

 
 [Insert the following Global Note Legend, if
applicable pursuant to the provisions of the Indenture: 
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO
SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.09 OF
THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY
TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 

[Insert the following Private Placement Legend, if applicable pursuant to the provisions of the Indenture: 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE
OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED, OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL, OR OTHERWISE TRANSFER SUCH
SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS ONE YEAR AFTER THE LATER OF THE ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY
PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE ISSUER, DIGITAL REALTY TRUST, INC., OR ANY OF THE ISSUER’S SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR
SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A 
  

 A-1 

 
UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR
FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER
THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3), OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN
ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY
DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE,
OR TRANSFER PURSUANT TO CLAUSE (D), (E), OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION, AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THE HOLDER AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY
OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER OR THE ISSUER ON OR AFTER THE RESALE RESTRICTION TERMINATION DATE. IN THE CASE OF REGULATION S
NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE
SECURITIES ACT.] 
  

 A-2 

 DIGITAL REALTY TRUST, L.P. 

4.50% NOTES DUE 2015 

Certificate No. [        ] 

CUSIP No.: [            ] 

ISIN: [            ] 

$[        ] 

Digital Realty Trust, L.P., a Maryland limited partnership (herein called the “Company”, which term includes any
successor corporation under the Indenture referred to on the reverse hereof), for value received hereby promises to pay to Cede & Co., or its registered assigns, the principal sum of [        ]
DOLLARS ($[        ]), or such lesser amount as is set forth in the Schedule of Exchanges of Interests in the Global Note on the other side of this Note, on July 15, 2015 at the office or agency of
the Company maintained for that purpose in accordance with the terms of the Indenture, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to pay
interest semi-annually on January 15 and July 15 of each year, commencing [                    ], on said principal sum at said
office or agency, in like coin or currency, at the rate per annum of 4.50%, from the January 15 or July 15, as the case may be, next preceding the date of this Note to which interest has been paid or duly provided for, unless no interest
has been paid or duly provided for on the Notes, in which case from July 8, 2010, until payment of said principal sum has been made or duly provided for. The Company shall pay interest to Holders of record on the January 1 or July 1
preceding the applicable January 15 or July 15 interest payment date, respectively, in accordance with the terms of the Indenture. The Company shall pay interest on any Notes in certificated form by check mailed to the address of the
Person entitled thereto as it appears in the Register; provided, however, that a Holder of any Notes in certificated form in the aggregate principal amount of more than $2.0 million may specify by written notice to the Company that it pay
interest by wire transfer of immediately available funds to the account specified by the Holder in such notice, or on any Global Notes by wire transfer of immediately available funds to the account of the Depository or its nominee. 

The Company promises to pay interest on overdue principal, premium, if any, and (to the extent that payment of such interest is
enforceable under applicable law) interest at the rate of 1% per annum above the rate borne by the Notes. 
 Reference is
made to the further provisions of this Note set forth on the reverse hereof and the Indenture governing this Note. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 

This Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed
manually or by facsimile by the Trustee or a duly authorized authenticating agent under the Indenture. 
  

 A-3 

 IN WITNESS WHEREOF, the Company has caused this Note to be duly executed. 

Dated: [            ], 20[    ] 

 

			
	DIGITAL REALTY TRUST, L.P.
		
	By:	 	Digital Realty Trust, Inc., Its Sole General Partner
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 A-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes described in the within-named Indenture. 

Dated: [            ], 20[    ] 

 

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	  

		 	Authorized Signatory

  

 A-5 

 [FORM OF REVERSE SIDE OF NOTE] 

DIGITAL REALTY TRUST, L.P. 

4.50% NOTES DUE 2015 

This Note is one of a duly authorized issue of Notes of the Company, designated as its 4.50% Notes due 2015 (herein called the
“Notes”), issued under and pursuant to an Indenture dated as of July 8, 2010 (herein called the “Indenture”), among the Company, the Guarantor and Deutsche Bank Trust Company Americas, as trustee (herein called
the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company
and the Holders of the Notes. Capitalized terms used but not otherwise defined in this Note shall have the respective meanings ascribed thereto in the Indenture. 

If an Event of Default (other than an Event of Default specified in Section 6.01(e), 6.01(f) and 6.01(g) with respect to the
Company) occurs and is continuing, the principal of, premium, if any, Liquidated Damages, if any, and accrued and unpaid interest on all Notes may be declared to be due and payable by either the Trustee or the Holders of at least 25% in aggregate
principal amount of the Notes then outstanding, and, upon said declaration the same shall be immediately due and payable. If an Event of Default specified in Section 6.01(e), 6.01(f) or 6.01(g) of the Indenture occurs with respect to the
Company, the principal of and premium, if any, Liquidated Damages, if any, and interest accrued and unpaid on all the Notes shall be immediately and automatically due and payable without necessity of further action. 

The Indenture contains provisions permitting the Company and the Trustee, with the consent of the Holders of not less than a majority in
aggregate principal amount of the Notes at the time outstanding, to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or
modifying in any manner the rights of the Holders of the Notes, subject to exceptions set forth in Section 9.02 of the Indenture. Subject to the provisions of the Indenture, the Holders of not less than a majority in aggregate principal amount
of the Notes at the time outstanding may, on behalf of the Holders of all of the Notes, waive any past default or Event of Default, subject to exceptions set forth in the Indenture. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall impair, as among the Company and the Holder
of the Notes, the obligation of the Company, which is absolute and unconditional, to pay the principal of, premium, if any, Liquidated Damages, if any, and interest on this Note at the place, at the respective times, at the rate and in the coin or
currency prescribed herein and in the Indenture. 
 Interest on the Notes shall be computed on the basis of a 360-day year of
twelve 30-day months. 
 The Notes are issuable in fully registered form, without coupons, in denominations of $1,000 principal
amount and any multiple of $1,000. At the office or agency of the Company referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture, without payment of any service charge but with payment of a sum
sufficient to cover any tax, assessment or other governmental charge that may be imposed in connection with any registration or exchange of Notes, Notes may be exchanged for a like aggregate principal amount of Notes of any other authorized
denominations. 
 The Company shall have the right to redeem the Notes under certain circumstances as set forth in
Section 3.01, Section 3.02 and Section 3.03 of the Indenture. 
  

 A-6 

 The Notes are not subject to redemption through the operation of any sinking fund.

 Except as expressly provided in Article 15 of the Indenture, no recourse for the payment of the principal of or any premium,
if any, or interest, or Liquidated Damages, if any, on this Note, or for any claim based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant or agreement of the Company in the Indenture or in any
supplemental indenture or in any Note, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, partner, member, manager, employee, agent, officer, director or subsidiary, as such, past,
present or future, of the Guarantor, the Company or any of the Company’s Subsidiaries or of any successor thereto, either directly or through the Guarantor, the Company or any of the Company’s subsidiaries or of any successor thereto,
whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as
consideration for, the execution of the Indenture and the issue of this Note. 
 In addition to the rights provided to Holders
of Notes under the Indenture, Holders shall have all the rights set forth in the Registration Rights Agreement. 
  

 A-7 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Note to:	 	  

		 	(Insert assignee’s legal name)

  

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

 
  
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
  

			
	and irrevocably appoint	 	  

	to transfer this Note on the books of the Company. The agent may substitute another to act for him.

Date:                      

 

					
	Your Signature:	 	  

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

Signature Guarantee*:
                             

 
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

 

 A-8 

 SCHEDULE OF EXCHANGES OF
INTERESTS IN THE GLOBAL NOTE * 
 The following
exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 

 

									
	 Date of Exchange
	 	 Amount of decrease in
Principal Amount 
at maturity of

this Global Note
	 	 Amount of increase in
Principal Amount 
at maturity of

this Global Note
	 	 Principal Amount 
at maturity of this Global
Note
following such decrease 
(or increase)
	 	 Signature of authorized
officer of Trustee
or
Custodian

		 		 		 		 	

  

	*	This schedule should be included only if the Note is issued in global form. 

 

 A-9 

 EXHIBIT B 

FORM OF CERTIFICATE OF TRANSFER 

Digital Realty Trust, L.P. 
 560 Mission Street,
Suite 2900 
 San Francisco, California 94105 

Telecopier No.: (415) 738-6521 
 Attention:
General Counsel 
 Deutsche Bank Trust Company Americas 

60 Wall Street 
 MS NYC60-2710 

New York, New York 10005 
 Telecopier No.:
(735) 578-4635 
 Attention: Trust & Securities Services 

Re: 4.50% Notes due 2015 

Reference is hereby made to the Indenture, dated as of July 8, 2010 (the “Indenture”), among Digital Realty Trust,
L.P., a Maryland limited partnership, as issuer (the “Company”), the Guarantor party thereto and Deutsche Bank Trust Company Americas, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them
in the Indenture. 

                    , (the
“Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $         in such Note[s] or interests (the
“Transfer”), to                      (the “Transferee”), as further specified in Annex A hereto. In
connection with the Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY] 

1.  ̈ Check if Transferee will take delivery of a beneficial interest in the 144A
Global Note or a Restricted Definitive Note pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and,
accordingly, the Transferor hereby further certifies that the beneficial interest or Definitive Note is being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial interest or Definitive Note for its own
account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction
meeting the requirements of Rule 144A, and such Transfer is in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Restricted Definitive Note and in the Indenture and the
Securities Act. 
 2.  ̈ Check if Transferee will take delivery of a
beneficial interest in the Regulation S Global Note or a Restricted Definitive Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly,
the Transferor hereby further certifies that (i) the Transfer is not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any
Person acting on its behalf reasonably believed and believes that the Transferee was 
  

 B-1 

 
outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither such Transferor nor any Person acting on
its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities
Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the Restricted Period, the transfer is not
being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive
Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Restricted Definitive Note and in the Indenture and the Securities Act. 

3.  ̈ Check and complete if Transferee will take delivery of a beneficial interest
in the IAI Global Note or a Restricted Definitive Note pursuant to any provision of the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial
interests in Restricted Global Notes and Restricted Definitive Notes and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby
further certifies that (check one): 
 (a)  ̈ such Transfer is
being effected pursuant to and in accordance with Rule 144 under the Securities Act; 
 or 

(b)  ̈ such Transfer is being effected to the Company or a subsidiary
thereof; 
 or 

(c)  ̈ such Transfer is being effected pursuant to an effective
registration statement under the Securities Act and in compliance with the prospectus delivery requirements of the Securities Act; 

or 

(d)  ̈ such Transfer is being effected to an Institutional Accredited
Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further certifies that it has not engaged in any general solicitation
within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions applicable to beneficial interests in a Restricted Global Note or Restricted Definitive Notes and the requirements of the exemption
claimed, which certification is supported by (1) a certificate executed by the Transferee in the form of Exhibit D to the Indenture and (2) an Opinion of Counsel provided by the Transferor or the Transferee (a copy of which the Transferor
has attached to this certification), to the effect that such Transfer is in compliance with the Securities Act. Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the IAI Global Note and/or the Restricted Definitive Notes and in the Indenture and the Securities Act. 

 

 B-2 

 4.  ̈ Check if Transferee will take
delivery of a beneficial interest in an Unrestricted Global Note or of an Unrestricted Definitive Note. 
 (a)
 ̈ Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 

(b)  ̈ Check if Transfer is Pursuant to Regulation S. (i) The Transfer is
being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States
and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms
of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and
in the Indenture. 
 (c)  ̈ Check if Transfer is Pursuant to Other
Exemption. (i) The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture. 

This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 

 

			
	  

	        [Insert Name of Transferor]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated:
                     
  

 B-3 

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

							
	1. The Transferor owns and proposes to transfer the following:
	
	[CHECK ONE OF (a) OR (b)]
			
		  	(a)	  	 ̈ a beneficial interest in the:
				
		  		  	(i)	  	 ̈ 144A Global Note (CUSIP
                    ), or
				
		  		  	(ii)	  	 ̈ Regulation S Global Note (CUSIP
                    ), or
				
		  		  	(iii)	  	 ̈ IAI Global Note (CUSIP
                    ); or
			
		  	(b)	  	 ̈ a Restricted Definitive Note.
	
	2. After the Transfer the Transferee will hold:
	
	[CHECK ONE]
			
		  	(a)	  	 ̈ a beneficial interest in the:
				
		  		  	(i)	  	 ̈ 144A Global Note (CUSIP
                    ), or
				
		  		  	(ii)	  	 ̈ Regulation S Global Note (CUSIP
                    ), or
				
		  		  	(iii)	  	 ̈ IAI Global Note (CUSIP
                    ); or
				
		  		  	(iv)	  	 ̈ Unrestricted Global Note (CUSIP
                    ); or
			
		  	(b)	  	 ̈ a Restricted Definitive Note; or
			
		  	(c)	  	 ̈ an Unrestricted Definitive Note,
		
		  	in accordance with the terms of the Indenture.

  

 B-4 

 EXHIBIT C 

FORM OF CERTIFICATE OF EXCHANGE 

Digital Realty Trust, L.P. 
 560 Mission Street,
Suite 2900 
 San Francisco, California 94105 

Telecopier No.: (415) 738-6521 
 Attention:
General Counsel 
 Deutsche Bank Trust Company Americas 

60 Wall Street 
 MS NYC60-2710 

New York, New York 10005 
 Telecopier No.:
(735) 578-4635 
 Attention: Trust & Securities Services 

Re: 4.50% Notes due 2015 

Reference is hereby made to the Indenture, dated as of July 8, 2010 (the “Indenture”), among Digital Realty Trust,
L.P., a Maryland limited partnership, as issuer (the “Company”), the Guarantor party thereto and Deutsche Bank Trust Company Americas, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them
in the Indenture. 

                      
      , (the “Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $         in
such Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that: 

1. Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Definitive Notes or
Beneficial Interests in an Unrestricted Global Note 
 (a)  ̈ Check if
Exchange is from beneficial interest in a Restricted Global Note to beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest
in an Unrestricted Global Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance
with the transfer restrictions applicable to the Global Notes and pursuant to and in accordance with the Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture
and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities
laws of any state of the United States. 
 (b)  ̈ Check if Exchange is from
beneficial interest in a Restricted Global Note to Unrestricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies
(i) the Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Definitive Note is
being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
  

 C-1 

 (c)  ̈ Check if Exchange is from
Restricted Definitive Note to beneficial interest in an Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies
(i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to
and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial
interest is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 (d)
 ̈ Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted
Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance
with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes or
Beneficial Interests in Restricted Global Notes 
 (a)  ̈ Check if
Exchange is from beneficial interest in a Restricted Global Note to Restricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an
equal principal amount, the Owner hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the
Restricted Definitive Note issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act. 

(b)  ̈ Check if Exchange is from Restricted Definitive Note to beneficial interest in a
Restricted Global Note. In connection with the Exchange of the Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE]  ̈ 144A Global Note,
 ̈ Regulation S Global Note,  ̈ IAI Global Note with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being
acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities
Act, and in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act. 

This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 

 

 C-2 

			
	  

	[Insert Name of Transferor]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated:
                     
  

 C-3 

 EXHIBIT D 

FORM OF CERTIFICATE FROM 

ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR 

Digital Realty Trust, L.P. 
 560 Mission Street,
Suite 2900 
 San Francisco, California 94105 

Telecopier No.: (415) 738-6521 
 Attention:
General Counsel 
 Deutsche Bank Trust Company Americas 

60 Wall Street 
 MS NYC60-2710 

New York, New York 10005 
 Telecopier No.:
(735) 578-4635 
 Attention: Trust & Securities Services 

Re: 4.50% Notes due 2015 

Reference is hereby made to the Indenture, dated as of July 8, 2010 (the “Indenture”), among Digital Realty Trust,
L.P., a Maryland limited partnership, as issuer (the “Company”), the Guarantor party thereto and Deutsche Bank Trust Company Americas, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them
in the Indenture. 
 In connection with our proposed purchase of $        
aggregate principal amount of: 

(a)  ̈        a beneficial interest in a
Global Note, or 
 (b)  ̈        a
Definitive Note, 
 we confirm that: 

1. We understand that any subsequent transfer of the Notes or any interest therein is subject to certain restrictions and conditions set
forth in the Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the Notes or any interest therein except in compliance with, such restrictions and conditions and the Securities Act of 1933, as
amended (the “Securities Act”). 
 2. We understand that the offer and sale of the Notes have not been
registered under the Securities Act, and that the Notes and any interest therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are acting as
hereinafter stated, that if we should sell the Notes or any interest therein, we will do so only (A) to the Company, the Guarantor or any of the Company’s subsidiaries, (B) in accordance with Rule 144A under the Securities Act to a
“qualified institutional buyer” (as defined therein), (C) to an institutional “accredited investor” (as defined below) that, prior to such transfer, furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you
and to the Company a signed letter substantially in the form of this letter and an Opinion of Counsel in form reasonably acceptable to the Company to the effect that such transfer is in compliance with the Securities Act, (D) outside the United
States in accordance with Rule 904 of Regulation S under the Securities Act, (E) pursuant to the provisions of Rule 144 under the Securities Act or (F) pursuant to an effective registration statement under the Securities Act, and we
further agree to provide to any Person purchasing the Definitive Note or beneficial interest in a Global Note from us in a transaction meeting the requirements of clauses (A) through (E) of this paragraph a notice advising such purchaser
that resales thereof are restricted as stated herein. 
  

 D-1 

 3. We understand that, on any proposed resale of the Notes or beneficial interest therein,
we will be required to furnish to you and the Company such certifications, legal opinions and other information as you and the Company may reasonably require to confirm that the proposed sale complies with the foregoing restrictions. We further
understand that the Notes purchased by us will bear a legend to the foregoing effect. 
 4. We are an institutional
“accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) and have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and
risks of our investment in the Notes, and we and any accounts for which we are acting are each able to bear the economic risk of our or its investment. 

5. We are acquiring the Notes or beneficial interest therein purchased by us for our own account or for one or more accounts (each of
which is an institutional “accredited investor”) as to each of which we exercise sole investment discretion. 
 You
and the Company are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered
hereby. 
  

			
	  

	        [Insert Name of Accredited Investor]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated:
                     
  

 D-3 

 EXHIBIT E 

[FORM OF NOTATION OF GUARANTEE] 

The Guarantor listed below (hereinafter referred to as the “Guarantor”, which term includes any successors or assigns
under the Indenture, dated the date hereof, among the Guarantor, the Company (defined below) and Deutsche Bank Trust Company Americas, as trustee (the “Indenture”), has irrevocably and unconditionally guaranteed on a senior basis
the Guarantee Obligations (as defined in Section 15.01 of the Indenture), which include (i) the due and punctual payment of the principal of, premium, if any, and interest and Liquidated Damages, if any, on the 4.50% Notes due 2015 (the
“Notes”) of Digital Realty Trust, L.P., a Maryland limited partnership (the “Company”), whether at maturity, by acceleration, call for redemption or otherwise, the due and punctual payment of interest on the overdue
principal and premium, if any, and (to the extent permitted by law) interest on any interest on the Notes, and the due and punctual performance of all other obligations of the Company, to the Holders of the Notes or the Trustee all in accordance
with the terms set forth in Article 15 of the Indenture, and (ii) in case of any extension of time of payment or renewal of any Notes or any such other obligations, that the same shall be promptly paid in full when due or performed in
accordance with the terms of the extension or renewal, whether at maturity, by acceleration, call for redemption or otherwise. 

The obligations of the Guarantor to the Holders of the Notes and to the Trustee pursuant to this Guarantee and the Indenture are
expressly set forth in Article 15 of the Indenture and reference is hereby made to such Indenture for the precise terms of this Guarantee. 

No past, present or future director, officer, employee, incorporator or stockholder (direct or indirect) of the Guarantor (or any such
successor entity), as such, shall have any liability for any obligations of the Guarantor under this Guarantee or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. 

The Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy
of the Company, any right to require a proceeding first against the Company, the benefit of discussion, protest or notice with respect to the Notes and all demands whatsoever. 

This is a continuing Guarantee and shall remain in full force and effect and shall be binding upon the Guarantor and its successors and
assigns until full and final payment of all of the Company’s obligations under the Notes and Indenture or until legally discharged in accordance with the Indenture and shall inure to the benefit of the successors and assigns of the Trustee and
the Holders of the Notes, and, in the event of any transfer or assignment of rights by any Holder of the Notes or the Trustee, the rights and privileges herein conferred upon that party shall automatically extend to and be vested in such transferee
or assignee, all subject to the terms and conditions hereof. This is a Guarantee of payment and performance and not of collectibility. 

This Guarantee shall not be valid or obligatory for any purpose until the certificate of authentication on the Note upon which this
Guarantee is noted shall have been executed by the Trustee under the Indenture by the manual or facsimile signature of one of its authorized officers. 

The obligations of the Guarantor under this Guarantee shall be limited to the extent necessary to insure that it does not constitute a
fraudulent conveyance under applicable law. 
  

 E-1 

 THE TERMS OF ARTICLE 15 OF THE INDENTURE ARE INCORPORATED HEREIN BY REFERENCE. 

Capitalized terms used herein have the same meanings given in the Indenture unless otherwise indicated. 

 

 E-2 

 IN WITNESS WHEREOF, the Guarantor has caused this instrument to be duly executed. 

Dated: [            ], 20[    ] 

 

			
	Digital Realty Trust, Inc.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 E-3Registration Rights Agreement

 Exhibit 4.2 

EXECUTION COPY 

DIGITAL REALTY TRUST, L.P. 

4.50% Notes Due 2015 

Registration Rights Agreement 

New York, New York 

July 8, 2010 
 Citigroup
Global Markets Inc. 
 Banc of America Securities LLC 

Credit Suisse Securities (USA) LLC 
 Banc of
America Securities LLC 
 Morgan Stanley & Co. Incorporated 

As Representatives of the Initial Purchasers 

c/o Citigroup Global Markets Inc. 
 388 Greenwich
Street 
 New York, New York 10013 

Ladies and Gentlemen: 
 Digital
Realty Trust, L.P., a limited partnership organized under the laws of the State of Maryland (the “Operating Partnership”), proposes to issue and sell to certain purchasers (the “Initial Purchasers”), for whom you (the
“Representatives”) are acting as representatives, its 4.50% Notes Due 2015 (the “Notes”), upon the terms set forth in the Purchase Agreement by and among the Operating Partnership, Digital Realty Trust, Inc., a corporation
organized under the laws of the State of Maryland (the “Company”), and the Representatives, dated June 30, 2010 (the “Purchase Agreement”), relating to the initial placement (the “Initial Placement”) of the
Securities (as hereinafter defined). The Notes will be fully and unconditionally guaranteed as to the payment of principal and interest by the Company (such guarantee, the “Guarantee,” and together with the Notes, the
“Securities”). To induce the Initial Purchasers to enter into the Purchase Agreement and to satisfy a condition to your obligations thereunder, the holders of the Securities will have the benefit of this registration rights agreement by
and among the Operating Partnership, the Company and the Initial Purchasers, whereby the Operating Partnership agrees with you for your benefit and the benefit of the holders from time to time of the Securities (including the Initial Purchasers)
(each a “Holder” and, collectively, the “Holders”), as follows: 
 1. Definitions. Capitalized terms
used herein without definition shall have their respective meanings set forth in the Purchase Agreement. As used in this Agreement, the following capitalized defined terms shall have the following meanings: 

“Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated
thereunder. 
  

 1 

 “Affiliate” shall have the meaning specified in Rule 405 under the Act and the
terms “controlling” and “controlled” shall have meanings correlative thereto. 
 “Agreement” shall
mean this Registration Rights Agreement by and among the Operating Partnership, the Company and the Initial Purchasers party hereto. 

“Automatic Shelf Registration Statement” shall mean a Registration Statement filed by a Well-Known Seasoned Issuer which shall
become effective upon filing thereof pursuant to General Instruction I.D for Form S-3. 
 “Broker-Dealer” shall mean
any broker or dealer registered as such under the Exchange Act. 
 “Business Day” shall mean any day other than a
Saturday, a Sunday or a legal holiday or a day on which banking institutions or trust companies are authorized or obligated by law to close in New York City. 

“Closing Date” shall mean the date of the first issuance of the Securities. 

“Commission” shall mean the Securities and Exchange Commission. 

“Company” shall have the meaning set forth in the preamble hereto. 

“Deferral Period” shall have the meaning indicated in Section 4(k)(ii) hereof. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
promulgated thereunder. 
 “Exchange Offer Registration Period” shall mean the one-year period following the
consummation of the Registered Exchange Offer, exclusive of any period during which any stop order shall be in effect suspending the effectiveness of the Exchange Offer Registration Statement. 

“Exchange Offer Registration Statement” shall mean a registration statement of the Operating Partnership on an appropriate form
under the Act with respect to the Registered Exchange Offer, all amendments and supplements to such registration statement, including post-effective amendments thereto, in each case including the Prospectus contained therein, all exhibits thereto
and all material incorporated by reference therein. 
 “Exchanging Dealer” shall mean any Holder (which may include
any Initial Purchaser) that is a Broker-Dealer and elects to exchange for New Securities any Securities that it acquired for its own account as a result of market-making activities or other trading activities (but not directly from the Operating
Partnership, the Company or any Affiliate of the Operating Partnership or the Company). 
 “Final Memorandum” shall
mean the offering memorandum, dated June 30, 2010, relating to the Securities, including any and all annexes thereto and any information incorporated by reference therein as of such date. 

 

 2 

 “FINRA Rules” shall mean the rules and regulations promulgated by The Financial
Industry Regulatory Authority. 
 “Guarantee” shall have the meaning set forth in the preamble hereto. 

“Holder” shall have the meaning set forth in the preamble hereto. 

“Indenture” shall mean the Indenture relating to the Securities, dated as of July 8, 2010, by and among the Operating
Partnership, the Company, as guarantor, and Deutsche Bank Trust Company Americas, as trustee, as the same may be amended from time to time in accordance with the terms thereof. 

“Initial Placement” shall have the meaning set forth in the preamble hereto. 

“Initial Purchasers” shall have the meaning set forth in the preamble hereto. 

“Losses” shall have the meaning set forth in Section 6(d) hereof. 

“Majority Holders” shall mean, on any date, Holders of a majority of the aggregate principal amount of Notes registered under a
Registration Statement. 
 “Managing Underwriters” shall mean the investment banker or investment bankers and manager
or managers that administer an underwritten offering, if any, under a Registration Statement. 
 “New Securities”
shall mean the securities of the Operating Partnership and the guarantee of the Company identical in all material respects to the Securities (except that the transfer restrictions shall be modified or eliminated, as appropriate) to be issued under
the Indenture. 
 “Operating Partnership” shall have the meaning set forth in the preamble hereto. 

“Prospectus” shall mean the prospectus included in any Registration Statement (including, without limitation, a prospectus that
discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A or Rule 430B under the Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Securities or the New Securities covered by such Registration Statement, and all amendments and supplements thereto, including any and all exhibits thereto and any information incorporated by reference
therein. 
 “Purchase Agreement” shall have the meaning set forth in the preamble hereto. 

“Registered Exchange Offer” shall mean the proposed offer of the Operating Partnership to issue and deliver to the Holders of
the Securities that are not prohibited by any law or policy of the Commission from participating in such offer, in exchange for the Securities, a like aggregate principal amount of the New Securities. 

 

 3 

 “Registrable Securities” shall mean the Securities; provided, however, that the
Securities shall cease to be Registrable Securities (i) with respect to any Securities held by a Holder other than a Broker-Dealer, following consummation of the Registered Exchange Offer, whether or not such Holder participates in such
Registered Exchange Offer; (ii) following the exchange by a Broker-Dealer in the Registered Exchange Offer of Securities for New Securities, when the New Securities are sold or otherwise disposed of to a purchaser who receives from such
Broker-Dealer on or prior to the date of such sale a copy of the Prospectus contained in the Exchange Offer Registration Statement; (iii) when such Securities have been registered under the Act and disposed of in accordance with the Shelf
Registration Statement; or (iv) when such Securities are distributed to the public pursuant to Rule 144, provided that on or prior to such date either (x) the Registered Exchange Offer has been consummated or (y) a Shelf Registration
Statement has been declared effective by the Commission. 
 “Registration Default Damages” shall have the meaning set
forth in Section 8 hereof. 
 “Registration Statement” shall mean any Exchange Offer Registration Statement or
Shelf Registration Statement that covers any of the Securities or the New Securities pursuant to the provisions of this Agreement, any amendments and supplements to such registration statement, including post-effective amendments (in each case
including the Prospectus contained therein), all exhibits thereto and all material incorporated by reference therein. 

“Securities” shall have the meaning set forth in the preamble hereto. 

“Shelf Registration” shall mean a registration effected pursuant to Section 3 hereof. 

“Shelf Registration Period” has the meaning set forth in Section 3(b)(ii) hereof. 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Operating Partnership pursuant to
the provisions of Section 3 hereof which covers some or all of the Securities or New Securities, as applicable, on an appropriate form under Rule 415 under the Act, or any similar rule that may be adopted by the Commission, amendments and
supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein. 

“Trustee” shall mean the trustee with respect to the Securities under the Indenture. 

“Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended, and the rules and regulations of the Commission
promulgated thereunder. 
 “underwriter” shall mean any underwriter of Securities in connection with an offering
thereof under a Shelf Registration Statement. 
 “Well-Known Seasoned Issuer” shall have the meaning set forth in Rule
405 under the Act. 
 2. Registered Exchange Offer. (a) The Operating Partnership and the Company shall prepare and,
not later than 90 days following the Closing Date, shall file with the Commission the Exchange Offer Registration Statement with respect to the Registered Exchange Offer. The Operating Partnership shall use its reasonable efforts to cause the
Exchange Offer Registration Statement to become effective under the Act within 180 days of the Closing Date. 
  

 4 

 (b) Upon the effectiveness of the Exchange Offer Registration Statement, the Operating
Partnership shall (i) promptly commence the Registered Exchange Offer, it being the objective of such Registered Exchange Offer to enable each Holder electing to exchange Securities for New Securities (assuming that such Holder is not an
Affiliate of the Operating Partnership or the Company, acquires the New Securities in the ordinary course of such Holder’s business, has no arrangements with any person to participate in the distribution of the New Securities and is not
prohibited by any law or policy of the Commission from participating in the Registered Exchange Offer) to trade such New Securities from and after their receipt without any limitations or restrictions under the Act and without material restrictions
under the securities laws of a substantial proportion of the several states of the United States, and (ii) use reasonable efforts to consummate the Registered Exchange Offer not later than 45 Business Days after the effective date of the
Registered Exchange Offer. 
 (c) In connection with the Registered Exchange Offer, the Operating Partnership and the Company
shall: 
 (i) mail to each Holder a copy of the Prospectus forming part of the Exchange Offer Registration
Statement, together with an appropriate letter of transmittal and related documents; 
 (ii) keep the Registered
Exchange Offer open for not less than 20 Business Days and not more than 45 Business Days after the date notice thereof is mailed to the Holders (or, in each case, longer if required by applicable law); 

(iii) use its reasonable efforts to keep the Exchange Offer Registration Statement continuously effective under the Act,
supplemented and amended as required, under the Act to ensure that it is available for sales of New Securities by Exchanging Dealers during the Exchange Offer Registration Period; 

(iv) utilize the services of a depositary for the Registered Exchange Offer, which may be the Trustee or an Affiliate;

 (v) permit Holders to withdraw tendered Securities at any time prior to the close of business, New York time,
on the last Business Day on which the Registered Exchange Offer is open; and 
 (vi) comply in all respects with
all applicable laws. 
 (d) As soon as practicable after the close of the Registered Exchange Offer, the Operating Partnership
and the Company shall: 
 (i) accept for exchange all Securities tendered and not validly withdrawn pursuant to
the Registered Exchange Offer; 
  

 5 

 (ii) deliver to the Trustee for cancellation in accordance with
Section 4(s) all Securities so accepted for exchange; and 
 (iii) issue and cause the Trustee promptly to
authenticate and deliver to each Holder of Securities a principal amount of New Securities equal to the principal amount of the Securities of such Holder so accepted for exchange; provided, however, that, in the case of any Securities held in global
form by a depositary, authentication and delivery to such depositary of one or more Securities in global form in an equivalent principal amount thereto for the account of such Holders in accordance with the Indenture shall satisfy such
authentication and delivery requirement. 
 (e) Each Holder hereby acknowledges and agrees that any Broker-Dealer and any such
Holder using the Registered Exchange Offer to participate in a distribution of the New Securities (x) could not under Commission policy as in effect on the date of this Agreement rely on the position of the Commission in Exxon Capital
Holdings Corporation (pub. avail. May 13, 1988) and Morgan Stanley and Co., Inc. (pub. avail. June 5, 1991), as interpreted in the Commission’s letter to Shearman & Sterling dated July 2, 1993 and similar
no-action letters; and (y) must comply with the registration and prospectus delivery requirements of the Act in connection with any secondary resale transaction, which must be covered by an effective registration statement containing the
selling security holder information required by Item 507 or 508, as applicable, of Regulation S-K under the Act if the resales are of New Securities obtained by such Holder in exchange for Securities acquired by such Holder directly from the
Company or one of its Affiliates. Accordingly, each Holder participating in the Registered Exchange Offer shall be required to represent to the Operating Partnership and the Company that: 

(i) any New Securities received by such Holder will be acquired in the ordinary course of business; 

(ii) such Holder will have no arrangement or understanding with any person to participate in the distribution of the
Securities or the New Securities within the meaning of the Act; 
 (iii) such Holder is not an Affiliate of the
Operating Partnership or the Company; and 
 (iv) if such Holder is a Broker-Dealer that will receive New
Securities for its own account in exchange for Securities that were acquired by such Broker-Dealer as a result of market-making or other trading activities, then such Holder shall deliver a prospectus meeting the requirements of the Act (or to the
extent permitted by law, shall make available a prospectus to purchasers) in connection with any resale of such New Securities. 

(f) The Operating Partnership and the Company shall comply with the applicable requirements of the Act, the Exchange Act, and other
applicable laws and regulations in connection with the Registered Exchange Offer. The Registered Exchange Offer shall not be subject to any conditions, other than that the Registered Exchange Offer does not violate applicable law or any applicable
interpretation of the Commission’s staff. 
  

 6 

 (g) If any Initial Purchaser determines that it is not eligible to participate in the
Registered Exchange Offer with respect to the exchange of Securities constituting any portion of an unsold allotment, at the request of such Initial Purchaser, the Operating Partnership and the Company shall issue and deliver to such Initial
Purchaser or the person purchasing New Securities registered under a Shelf Registration Statement as contemplated by Section 3 hereof from such Initial Purchaser, in exchange for such Securities, a like principal amount of New Securities. The
Operating Partnership shall use reasonable efforts to cause the CUSIP Service Bureau to issue the same CUSIP number for such New Securities as for New Securities issued pursuant to the Registered Exchange Offer. 

3. Shelf Registration. (a) If (i) the Operating Partnership and the Company are not required to file the Exchange Offer
Registration Statement; (ii) the Operating Partnership and the Company are not permitted to consummate the Exchange Offer because the Exchange Offer is not permitted by applicable law or Commission policy; or (iii) any holder of
Registrable Securities notifies the Operating Partnership and the Company prior to the 20th Business Day following consummation of the Exchange Offer that (A) it is prohibited by law or Commission policy from participating in the Exchange
Offer, (B) it may not resell the New Securities acquired by it in the Exchange Offer to the public without delivering a prospectus and the prospectus contained in the Exchange Offer Registration Statement is not appropriate or available for
such resales; or (C) it is a Broker-Dealer and owns Securities acquired directly from the Operating Partnership, the Company or one of their Affiliates, the Operating Partnership and the Company shall effect a Shelf Registration Statement in
accordance with subsection (b) below. 
 (b)    (i) The Operating Partnership and the Company shall as
promptly as practicable (but in no event more than 90 days after becoming so required or requested pursuant to this Section 3), file with the Commission and shall use its reasonable efforts to cause to be declared effective under the Act within
180 days after becoming so required or requested, a Shelf Registration Statement (which shall be, if the Operating Partnership is then a Well-Known Seasoned Issuer, an Automatic Shelf Registration Statement) relating to the offer and sale of the
Securities or the New Securities, as applicable, by the Holders thereof from time to time in accordance with the methods of distribution elected by such Holders and set forth in such Shelf Registration Statement; provided, however, that no Holder
(other than an Initial Purchaser) shall be entitled to have the Securities held by it covered by such Shelf Registration Statement unless such Holder agrees in writing to be bound by all of the provisions of this Agreement applicable to such Holder.

 (ii) The Operating Partnership and the Company shall use its reasonable efforts to keep the Shelf Registration
Statement continuously effective, supplemented and amended as required by the Act, in order to permit the Prospectus forming part thereof to be usable by Holders for a period (the “Shelf Registration Period”) from the date the Shelf
Registration Statement is declared 
  

 7 

 
effective by the Commission (or becomes effective in the case of an Automatic Shelf Registration Statement) until (A) the first anniversary thereof or (B) the date upon which all the
Securities or New Securities, as applicable, covered by the Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement. Each of the Operating Partnership and the Company shall be deemed not to have used its reasonable
efforts to keep the Shelf Registration Statement effective during the Shelf Registration Period if it voluntarily takes any action that would result in Holders of Securities or New Securities covered thereby not being able to offer and sell such
Securities or New Securities at any time during the Shelf Registration Period, unless such action is (x) required by applicable law or otherwise undertaken by the Operating Partnership or the Company in good faith and for valid business reasons
(not including avoidance of the Operating Partnership’s and the Company’s obligations hereunder), including the acquisition or divestiture of assets, and (y) permitted pursuant to Section 4(k)(ii) hereof. None of the Company, the
Operating Partnership or any of their respective securityholders (other than Holders of Registrable Securities) shall have the right to include any securities of the Company or the Operating Partnership in any Shelf Registration Statement other than
the Securities or New Securities. 
 (iii) The Operating Partnership and the Company shall cause the Shelf
Registration Statement and the related Prospectus and any amendment or supplement thereto, as of the effective date of the Shelf Registration Statement or such amendment or supplement, (A) to comply in all material respects with the applicable
requirements of the Act; and (B) not to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein (in the case of the Prospectus, in the
light of the circumstances under which they were made) not misleading. 
 (c) An Exchange Offer Registration Statement pursuant
to Section 2 and a Shelf Registration Statement pursuant to Section 3 hereof will not be deemed to have become effective unless it has been declared effective by the Commission or is automatically effective upon filing with the Commission
as provided by Rule 462 under the Act; provided, however, that, if, after it has been declared effective, the offering of Securities or New Securities is interfered with by any stop order, injunction or other order or requirement of the Commission
or any other governmental agency or court, such Registration Statement will be deemed not to have become effective during the period of such interference until the offering of Securities or New Securities pursuant to such Registration Statement may
legally resume. 
 4. Additional Registration Procedures. In connection with any Shelf Registration Statement and, to the
extent applicable, any Exchange Offer Registration Statement, the following provisions shall apply. 
  

 8 

 (a) Each of the Operating Partnership and the Company shall, as applicable: 

(i) furnish to each of the Representatives and to counsel for the Holders, not less than five Business Days prior to the
filing thereof with the Commission, a copy of any Exchange Offer Registration Statement and any Shelf Registration Statement, and each amendment thereof and each amendment or supplement, if any, to the Prospectus included therein (including all
documents incorporated by reference therein after the initial filing) and shall use its reasonable efforts to reflect in each such document, when so filed with the Commission, such comments as the Representatives reasonably propose; 

(ii) prepare and file with the Commission a Registration Statement on the appropriate form under the Act, which form
(x) shall be selected by the Operating Partnership and (y) shall, in the case of a Shelf Registration, be available for the sale of the Securities or the New Securities by the selling Holders thereof and (z) shall comply as to form in
all material respects with the requirements of the applicable form and include or incorporate by reference all financial statements required by the Commission to be filed therewith, and use its reasonable efforts to cause such Registration Statement
to become effective in accordance with Sections 2 and 3 hereof; 
 (iii) if requested by an Initial Purchaser,
include the information required by Items 507 and 508 of Regulation S-K, as applicable, in the Prospectus contained in the Exchange Offer Registration Statement; 

(iv) indicate in a “Plan of Distribution” section contained in the Prospectus forming a part of the Exchange
Offer Registration Statement that any Exchanging Dealer may exchange such Registrable Securities pursuant to the Exchange Offer; however, such Exchanging Dealer may be deemed to be an “underwriter” within the meaning of the Act and must,
therefore, deliver a prospectus meeting the requirements of the Act in connection with any resales of the New Securities received by such Exchanging Dealer in the Exchange Offer, which prospectus delivery requirement may be satisfied by the delivery
by such Exchanging Dealer of the Prospectus contained in the Exchange Offer Registration Statement. Such “Plan of Distribution” section shall also contain all other information with respect to such resales by any Exchanging Dealers that
the Commission may require in order to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Exchanging Dealer or disclose the amount of Registrable Securities held by any such Exchanging Dealer
except to the extent required by the Commission as a result of a change in policy after the date of this Agreement; 

(v) in the case of a Shelf Registration Statement, include the names of the Holders that propose to sell Securities
pursuant to the Shelf Registration Statement as selling security holders; and 
 (vi) prepare and file with the
Commission such amendments and post-effective amendments to each Registration Statement as may be necessary to keep such Registration Statement effective for the applicable period and cause each Prospectus to be supplemented by any required
prospectus supplement and, as so supplemented, to be filed pursuant to Rule 424 under the Act; to keep each Prospectus current during the period described in Section 4(3) of Rule 174 under the Act that is applicable to transactions by brokers
or dealers with respect to the Securities or New Securities; 
  

 9 

 (b) The Operating Partnership and the Company shall ensure that: 

(i) any Registration Statement and any amendment thereto and any Prospectus forming part thereof and any amendment or
supplement thereto complies in all material respects with the Act; and 
 (ii) any Registration Statement and any
amendment thereto does not, when it becomes effective, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. 

(c) The Operating Partnership and the Company shall advise the Representatives, the Holders of Securities covered by any Shelf
Registration Statement and any Exchanging Dealer under any Exchange Offer Registration Statement that has provided in writing to the Operating Partnership or the Company a telephone or facsimile number and address for notices, and confirm such
advice in writing, if requested (which notice pursuant to clauses (ii)-(v) hereof shall be accompanied by an instruction to suspend the use of the Prospectus until the Operating Partnership shall have remedied the basis for such suspension):

 (i) when a Registration Statement and any amendment thereto has been filed with the Commission and when the
Registration Statement or any post-effective amendment thereto has become effective; 
 (ii) of any request by
the Commission for any amendment or supplement to the Registration Statement or the Prospectus or for additional information; 

(iii) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or
the institution or threatening of any proceeding for that purpose; 
 (iv) of the receipt by the Operating
Partnership or the Company of any notification with respect to the suspension of the qualification of the Securities or New Securities included therein for sale in any jurisdiction or the institution or threatening of any proceeding for such
purpose; and 
 (v) of the happening of any event that requires any change in the Registration Statement or the
Prospectus so that, as of such date, they (A) do not contain any untrue statement of a material fact and (B) do not omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of the
Prospectus, in the light of the circumstances under which they were made) not misleading. 
  

 10 

 (d) The Operating Partnership and the Company shall use reasonable efforts to prevent the
issuance of any order suspending the effectiveness of any Registration Statement or the qualification of the securities therein for sale in any jurisdiction and, if issued, to obtain as soon as possible the withdrawal thereof. The Company shall
undertake additional reasonable actions as required to permit unrestricted sales of the Securities and New Securities in accordance with the terms and conditions of this Agreement. 

(e) The Operating Partnership and the Company shall furnish to each Holder of Securities or New Securities covered by any Shelf
Registration Statement that so requests, without charge, at least one copy of such Shelf Registration Statement and any post-effective amendment thereto, including all material incorporated therein by reference, and, if the Holder so requests in
writing, all exhibits thereto (including exhibits incorporated by reference therein). 
 (f) During the Shelf Registration
Period, the Operating Partnership and the Company shall promptly deliver to each Holder of Securities or New Securities covered by any Shelf Registration Statement, without charge, as many copies of the Prospectus (including the preliminary
Prospectus, if any) included in such Shelf Registration Statement and any amendment or supplement thereto as such Holder may reasonably request. The Operating Partnership and the Company consent to the use of the Prospectus included in the Shelf
Registration Statement or any amendment or supplement thereto by each of the selling Holders of Securities or New Securities in connection with the offering and sale of the Securities or New Securities covered by such Prospectus, or any amendment or
supplement thereto. 
 (g) The Operating Partnership and the Company shall furnish to each Exchanging Dealer which so requests,
without charge, at least one copy of the Exchange Offer Registration Statement and any post-effective amendment thereto, including all material incorporated by reference therein, and, if the Exchanging Dealer so requests in writing, all exhibits
thereto (including exhibits incorporated by reference therein). 
 (h) During the Exchange Offer Registration Period, the
Operating Partnership and the Company shall promptly deliver to each Initial Purchaser, each Exchanging Dealer and each other person required to deliver a Prospectus, without charge, as many copies of the Prospectus (including the preliminary
Prospectus, if any) included in such Exchange Offer Registration Statement and any amendment or supplement thereto as any such person may reasonably request. The Operating Partnership and the Company consent to the use of the Prospectus or any
amendment or supplement thereto by any Initial Purchaser, any Exchanging Dealer and any such other person that may be required to deliver a Prospectus following the Registered Exchange Offer in connection with the offering and sale of the Securities
or New Securities covered by the Prospectus, or any amendment or supplement thereto, included in the Exchange Offer Registration Statement. 

(i) Prior to the Registered Exchange Offer or any other offering of Securities or New Securities pursuant to any Registration Statement,
the Operating Partnership and the Company shall arrange, if necessary, for the qualification of the Securities or the New Securities for sale under the laws of such jurisdictions as any Holder shall reasonably request and shall maintain such
qualification in effect so long as required; provided that in no event shall either of the Operating Partnership or the Company be obligated to qualify to do business in any 

 

 11 

 
jurisdiction where it is not then so qualified or to take any action that would subject it to service of process in suits, other than those arising out of the Initial Placement, the Registered
Exchange Offer or any offering pursuant to a Shelf Registration Statement, in any such jurisdiction where it is not then so subject. 

(j) The Operating Partnership and the Company shall cooperate with the Holders of Securities to facilitate the timely preparation and
delivery of certificates representing New Securities or Securities to be issued or sold pursuant to any Registration Statement free of any restrictive legends and in such denominations and registered in such names as Holders may request. 

(k) (i) Upon the occurrence of any event contemplated by subsections (c)(ii) through (v) above, the Operating Partnership and the
Company shall promptly (or within the time period provided for by clause (ii) hereof, if applicable) prepare a post-effective amendment to the applicable Registration Statement or an amendment or supplement to the related Prospectus or file any
other required document so that, as thereafter delivered to Initial Purchasers of the securities included therein, the Prospectus will not include an untrue statement of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. In such circumstances, the period of effectiveness of the Exchange Offer Registration Statement provided for in
Section 2 shall be extended by the number of days from and including the date of the giving of a notice of suspension pursuant to Section 4(c) to and including the date when the Initial Purchasers, the Holders of the Securities and any
known Exchanging Dealer shall have received such amended or supplemented Prospectus pursuant to this Section. 

(ii) Upon the occurrence or existence of any pending corporate development, public filings with the Commission or any
other material event that, in the reasonable judgment of the Operating Partnership or the Company, makes it appropriate to suspend the availability of a Registration Statement and the related Prospectus, the Operating Partnership and the Company
shall give notice (without notice of the nature or details of such events) to the Holders that the availability of the Registration Statement is suspended and, upon actual receipt of any such notice, each Holder agrees not to sell any Registrable
Securities pursuant to the Registration Statement until such Holder’s receipt of copies of the supplemented or amended Prospectus provided for in Section 4(k)(i) hereof, or until it is advised in writing by the Operating Partnership that
the Prospectus may be used, and has received copies of any additional or supplemental filings that are incorporated or deemed incorporated by reference in such Prospectus. The period during which the availability of the Registration Statement and
any Prospectus is suspended (the “Deferral Period”) shall not exceed 45 days in any 90-day period or 90 days in any 360-day period; provided that, if the event triggering the Deferral Period relates to a proposed or pending material
business transaction, the disclosure of which the board of directors of the Company determines in good faith would be reasonably likely to impede the ability to consummate the transaction or would otherwise be seriously detrimental to the Company
and its subsidiaries taken as a whole, the Company may extend the Deferral Period from 45 days to 60 days in any 90-day period or from 90 days to 120 days in any 360-day period. 

 

 12 

 (l) Not later than the effective date of any Registration Statement, the Operating
Partnership shall provide a CUSIP number for the Securities or the New Securities, as the case may be, registered under such Registration Statement and provide the Trustee with printed certificates for such Securities or New Securities, in a form
eligible for deposit with The Depository Trust Company. 
 (m) The Operating Partnership and the Company shall comply with all
applicable rules and regulations of the Commission and shall make generally available to its security holders an earnings statement satisfying the provisions of Section 11(a) of the Act as soon as practicable after the effective date of the
applicable Registration Statement and in any event no later than 45 days after the end of the 12-month period (or 90 days, if such period is a fiscal year) beginning with the first month of the Operating Partnership’s first fiscal quarter
commencing after the effective date of the applicable Registration Statement. 
 (n) The Operating Partnership and the Company
shall use reasonable efforts to cause the Indenture to be qualified under the Trust Indenture Act in a timely manner. 
 (o) The
Operating Partnership and the Company may require each Holder of Securities or New Securities to be sold pursuant to any Shelf Registration Statement to furnish to the Operating Partnership such information regarding the Holder and the distribution
of such securities as the Operating Partnership or the Company may from time to time reasonably require for inclusion in such Registration Statement. The Operating Partnership and the Company may exclude from such Shelf Registration Statement the
Securities or New Securities of any Holder that unreasonably fails to furnish such information within a reasonable time after receiving such request. 

(p) In the case of any Shelf Registration Statement, with respect to any proposed underwritten offering of Securities or New Securities,
and subject to compliance with Section 7 hereof, the Operating Partnership or the Company shall enter into customary agreements (including, if requested, an underwriting agreement in customary form) and take all other appropriate actions in
order to expedite or facilitate the registration or the disposition of the Securities or New Securities, and in connection therewith, if an underwriting agreement is entered into, cause the same to contain customary indemnification provisions and
procedures. 
 (q) In the event of an underwritten offering in compliance with Section 7 hereof, the Operating Partnership
and the Company shall: 
 (i) make reasonably available for inspection by the Holders of Securities to be
registered thereunder, any underwriter participating in any disposition pursuant to such Registration Statement, and any attorney, accountant or other agent retained by the Holders or any such underwriter all relevant financial and other records and
pertinent corporate documents of the Operating Partnership, the Company and their subsidiaries; 
  

 13 

 (ii) cause the Operating Partnership’s or the Company’s officers,
directors, employees, accountants and auditors to supply all relevant information reasonably requested by the Holders or any such underwriter, attorney, accountant or agent in connection with any such Registration Statement as is customary for
similar due diligence examinations; 
 (iii) make such representations and warranties to the Holders of
Securities registered thereunder and the underwriters, if any, in form, substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings and covering matters including, but not limited to, those set forth in
the Purchase Agreement; 
 (iv) obtain opinions of counsel to the Operating Partnership and updates thereof
(which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the Managing Underwriters, if any) addressed to each selling Holder and the underwriters, if any, covering such matters as are customarily covered in
opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Holders and underwriters; 

(v) obtain “comfort” letters and updates thereof from the independent registered public accounting firm of the
Operating Partnership (and, if necessary, any other independent certified public accountants of any subsidiary of the Operating Partnership or of any business acquired by the Operating Partnership for which financial statements and financial data
are, or are required to be, included in the Registration Statement), addressed to the requesting party, in customary form and covering matters of the type customarily covered in “comfort” letters in connection with primary underwritten
offerings, or if requested by the requesting party or its counsel in lieu of a “comfort” letter, an agreed-upon procedures letter under Statement on Standards for Attestation Engagements No. 10 and 11, covering matters requested by
the requesting party or its counsel; and 
 (vi) deliver such documents and certificates as may be reasonably
requested by the Majority Holders or the Managing Underwriters, if any, including those to evidence compliance with Section 4(k) and with any customary conditions contained in the underwriting agreement or other agreement entered into by the
Operating Partnership. 
 The actions set forth in clauses (iii), (iv), (v) and (vi) of this paragraph (q) shall be performed in
connection with any underwriting or similar agreement as and to the extent required thereunder. 
 (r) In the case of any
Exchange Offer Registration Statement, the Operating Partnership and the Company shall, if reasonably requested by an Initial Purchaser, or by a Broker-Dealer that holds Securities that were acquired as a result of market making or other trading
activities: 
 (i) make reasonably available for inspection by the requesting party, and any attorney, accountant
or other agent retained by the requesting party, all relevant financial and other records, pertinent corporate documents and properties of the Operating Partnership, the Company and their subsidiaries; 

 

 14 

 (ii) cause the Operating Partnership’s and the Company’s officers,
directors, employees, accountants and auditors to supply all relevant information reasonably requested by the requesting party or any such attorney, accountant or agent in connection with any such Registration Statement as is customary for similar
due diligence examinations; 
 (iii) make such representations and warranties to the requesting party, in form,
substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings and covering matters including, but not limited to, those set forth in the Purchase Agreement; 

(iv) obtain opinions of counsel to the Operating Partnership and updates thereof (which counsel and opinions (in form,
scope and substance) shall be reasonably satisfactory to the requesting party and its counsel, addressed to the requesting party, covering such matters as are customarily covered in opinions requested in underwritten offerings and such other matters
as may be reasonably requested by the requesting party or its counsel; 
 (v) obtain “comfort” letters
and updates thereof from the independent registered public accounting firm of the Operating Partnership (and, if necessary, any other independent certified public accountants of any subsidiary of the Operating Partnership or of any business acquired
by the Operating Partnership for which financial statements and financial data are, or are required to be, included in the Registration Statement), addressed to the requesting party, in customary form and covering matters of the type customarily
covered in “comfort” letters in connection with primary underwritten offerings, or if requested by the requesting party or its counsel in lieu of a “comfort” letter, an agreed-upon procedures letter under Statement on Standards
for Attestation Engagements No. 10 and 11, covering matters requested by the requesting party or its counsel; and 

(vi) deliver such documents and certificates as may be reasonably requested by the requesting party or its counsel,
including those to evidence compliance with Section 4(k) and with conditions customarily contained in underwriting agreements. 
 The
foregoing actions set forth in clauses (iii), (iv), (v), and (vi) of this paragraph (r) shall be performed at the close of the Registered Exchange Offer and the effective date of any post-effective amendment to the Exchange Offer
Registration Statement. 
  

 15 

 (s) If a Registered Exchange Offer is to be consummated, upon delivery of the Securities by
Holders to the Operating Partnership (or to such other person as directed by the Operating Partnership) in exchange for the New Securities, the Operating Partnership shall mark, or caused to be marked, on the Securities so exchanged that such
Securities are being cancelled in exchange for the New Securities. In no event shall the Securities be marked as paid or otherwise satisfied. 

(t) The Operating Partnership and the Company shall use reasonable efforts if the Securities have been rated prior to the initial sale of
such Securities, to confirm such ratings will apply to the Securities or the New Securities, as the case may be, covered by a Registration Statement. 

(u) In the event that any Broker-Dealer shall underwrite any Securities or participate as a member of an underwriting syndicate or
selling group or “assist in the distribution” (within the meaning of the FINRA Rules) thereof, whether as a Holder of such Securities or as an underwriter, a placement or sales agent or a broker or dealer in respect thereof, or otherwise,
the Operating Partnership shall assist such Broker-Dealer in complying with the FINRA Rules. 
 (v) The Operating Partnership
and the Company shall use reasonable efforts to take all other steps necessary to effect the registration of the Securities or the New Securities, as the case may be, covered by a Registration Statement. 

5. Registration Expenses. The Operating Partnership and the Company shall bear all expenses incurred in connection with the
performance of its obligations under Sections 2, 3 and 4 hereof and, in the event of any Shelf Registration Statement, shall reimburse the Holders for the reasonable fees and disbursements of one firm or counsel (which shall initially be Goodwin
Procter LLP, but which may be another nationally recognized law firm experienced in securities matters designated by the Majority Holders) to act as counsel for the Holders in connection therewith, and, in the case of any Exchange Offer Registration
Statement, will reimburse the Initial Purchasers for the reasonable fees and disbursements of counsel acting in connection therewith. 

6. Indemnification and Contribution. (a) The Company and the Operating Partnership agree to indemnify and hold harmless each
Holder of Securities or New Securities, as the case may be, covered by any Registration Statement, each Initial Purchaser and, with respect to any Prospectus delivery as contemplated in Section 4(h) hereof, each Exchanging Dealer, the
directors, officers, employees, Affiliates and agents of each such Holder, Initial Purchaser or Exchanging Dealer and each person who controls any such Holder, Initial Purchaser or Exchanging Dealer within the meaning of either the Act or the
Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the Act, the Exchange Act or other federal or state statutory law or regulation, at common law or
otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement as
originally filed or in any amendment thereof, or in any preliminary Prospectus or the Prospectus, or in any amendment thereof or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein (in the case of any preliminary Prospectus or the Prospectus, in the light of the 
  

 16 

 
circumstances under which they were made) not misleading, and agree to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by it in connection
with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company and the Operating Partnership will not be liable in any such case to the extent that any such loss, claim, damage or
liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information furnished to the Operating Partnership by or on
behalf of the party claiming indemnification specifically for inclusion therein. This indemnity agreement shall be in addition to any liability that the Company and the Operating Partnership may otherwise have. 

The Company and the Operating Partnership also agree to indemnify as provided in this Section 6(a) or contribute as provided in
Section 6(d) hereof to Losses of each underwriter, if any, of Securities or New Securities, as the case may be, registered under a Shelf Registration Statement, its directors, officers, employees, Affiliates or agents and each person who
controls such underwriter on substantially the same basis as that of the indemnification of the Initial Purchasers and the selling Holders provided in this Section 6(a) and shall, if requested by any Holder, enter into an underwriting agreement
reflecting such agreement, as provided in Section 4(p) hereof. 
 (b) Each Holder of securities covered by a Registration
Statement (including each Initial Purchaser that is a Holder, in such capacity) severally and not jointly agrees to indemnify and hold harmless the Company and the Operating Partnership, each of its directors, officers and Affiliates, and each
person who controls the Company or the Operating Partnership within the meaning of either the Act or the Exchange Act, to the same extent as the foregoing indemnity from the Company and the Operating Partnership to each such Holder, but only with
reference to written information relating to such Holder furnished to the Operating Partnership by or on behalf of such Holder specifically for inclusion in the documents referred to in the foregoing indemnity. This indemnity agreement will be in
addition to any liability that any such Holder may otherwise have. 
 (c) Promptly after receipt by an indemnified party under
this Section 6 or notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section, notify the indemnifying party in writing of the commencement
thereof; but the failure so to notify the indemnifying party (i) will not relieve it from liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the
forfeiture by the indemnifying party of substantial rights and defenses; and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in
paragraph (a) or (b) above. The indemnifying party shall be entitled to appoint counsel (including local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any
action for which indemnification is sought (in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by
the indemnified party or parties except as set forth below); provided, however, that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel
(including local counsel) to represent the 
  

 17 

 
indemnified party in an action, the indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs
and expenses of such separate counsel if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest; (ii) the actual or potential defendants in, or
targets of, any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be legal defenses available to it and/or other indemnified parties that are different
from or additional to those available to the indemnifying party; (iii) the indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of the
institution of such action; or (iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. An indemnifying party will not, without the prior written consent of the
indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not
the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or
proceeding. 
 (d) In the event that the indemnity provided in paragraph (a) or (b) of this Section is unavailable to
or insufficient to hold harmless an indemnified party for any reason, then each applicable indemnifying party shall have a joint and several obligation to contribute to the aggregate losses, claims, damages and liabilities (including legal or other
expenses reasonably incurred in connection with investigating or defending any loss, claim, liability, damage or action) (collectively “Losses”) to which such indemnified party may be subject in such proportion as is appropriate to reflect
the relative benefits received by such indemnifying party, on the one hand, and such indemnified party, on the other hand, from the Initial Placement and the Registration Statement which resulted in such Losses; provided, however, that
in no case shall any Initial Purchaser be responsible, in the aggregate, for any amount in excess of the purchase discount or commission applicable to such Security, or in the case of a New Security, applicable to the Security that was exchangeable
into such New Security, as set forth in the Final Memorandum, nor shall any underwriter be responsible for any amount in excess of the underwriting discount or commission applicable to the securities purchased by such underwriter under the
Registration Statement which resulted in such Losses. If the allocation provided by the immediately preceding sentence is unavailable for any reason, the indemnifying party and the indemnified party shall contribute in such proportion as is
appropriate to reflect not only such relative benefits but also the relative fault of such indemnifying party, on the one hand, and such indemnified party, on the other hand, in connection with the statements or omissions which resulted in such
Losses as well as any other relevant equitable considerations. Benefits received by the Company and the Operating Partnership shall be deemed to be equal to the total net proceeds from the Initial Placement (before deducting expenses) as set forth
in the Final Memorandum. Benefits received by the Initial Purchasers shall be deemed to be equal to the total purchase discounts and commissions as set forth on the cover page of the Final Memorandum, and benefits received by any other Holders shall
be deemed to be equal to the value of receiving Securities or New Securities, as applicable, registered under the Act. Benefits received by any underwriter shall be deemed to be equal to the total underwriting discounts and commissions, as set forth
on the cover page of the Prospectus forming a part of the Registration 
  

 18 

 
Statement which resulted in such Losses. Relative fault shall be determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material fact or omission
or alleged omission to state a material fact relates to information provided by the indemnifying party, on the one hand, or by the indemnified party, on the other hand, the intent of the parties and their relative knowledge, access to information
and opportunity to correct or prevent such untrue statement or omission. The parties agree that it would not be just and equitable if contribution were determined by pro rata allocation (even if the Holders were treated as one entity for such
purpose) or any other method of allocation which does not take account of the equitable considerations referred to above. Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section, each person who controls a Holder within the meaning of either the Act or the
Exchange Act and each director, officer, employee and agent of such Holder shall have the same rights to contribution as such Holder, and each person who controls the Company or the Operating Partnership within the meaning of either the Act or the
Exchange Act, each officer of the Company or the Operating Partnership and each director of the Company or the Operating Partnership shall have the same rights to contribution as the Company and the Operating Partnership, subject in each case to the
applicable terms and conditions of this paragraph (d). 
 (e) The provisions of this Section will remain in full force and
effect, regardless of any investigation made by or on behalf of any Holder or the Company or the Operating Partnership or any of the indemnified persons referred to in this Section 6, and will survive the sale by a Holder of securities covered
by a Registration Statement. 
 7. Underwritten Registrations. (a) In no event will the method of distribution of
Registrable Securities take the form of an underwritten offering without the prior written consent of the Company. 
 (b) If any
of the Securities or New Securities, as the case may be, covered by any Shelf Registration Statement are to be sold in an underwritten offering, the Managing Underwriters shall be selected by the Company, subject to the prior written consent of the
Majority Holders, which consent shall not be unreasonably withheld. 
 (c) No person may participate in any underwritten
offering pursuant to any Shelf Registration Statement, unless such person (i) agrees to sell such person’s Securities or New Securities, as the case may be, on the basis reasonably provided in any underwriting arrangements approved by the
persons entitled hereunder to approve such arrangements; and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting
arrangements. 
  

 19 

 8. Registration Defaults. If any of the following events shall occur, then the
Operating Partnership shall pay liquidated damages (the “Registration Default Damages”) to the Holders of Securities in respect of the Securities as follows: 

(a) if any Registration Statement required by this Agreement is not filed with the Commission on or prior to the date specified for such
filing in this Agreement, then Registration Default Damages shall accrue on the Registrable Securities subject to such Registration Statement at a rate of 0.25% per annum for the first 90 days from and including such specified date and
0.50% per annum thereafter; 
 (b) if any Registration Statement required by this Agreement is not declared effective by
the Commission (or has not become effective in the case of an Automatic Shelf Registration Statement) on or prior to the date by which reasonable efforts are to be used to cause such effectiveness under this Agreement, then commencing on the day
after such specified date, Registration Default Damages shall accrue on the Registrable Securities subject to such Registration Statement at a rate of 0.25% per annum for the first 90 days from and including such specified date and
0.50% per annum thereafter; 
 (c) if the Exchange Offer, if any, has not been consummated within 45 Business Days after
the Effective Time of the Exchange Offer Registration Statement relating to the Exchange Offer (if the Exchange Offer is then required to be made), then Registration Default Damages shall accrue on the Registrable Securities at a rate of
0.25% per annum for the first 90 days from and including the 45th Business Day after the Effective Time of the Exchange Offer Registration Statement and 0.50% per annum thereafter; or 

(d) if any Registration Statement required by this Agreement has been declared or becomes effective but ceases to be effective or usable
for the offer and sale of the Registrable Securities, other than in connection with (A) a Deferral Period or (B) as a result of a requirement to file a post-effective amendment or supplement to the Prospectus to make changes to the
information regarding selling securityholders or the plan of distribution provided for therein, at any time during the Shelf Registration Period and the Company does not cure the lapse of effectiveness or usability within ten Business Days (or, if a
Deferral Period is then in effect, within ten Business Days following the expiration of such Deferral Period) Registration Default Damages shall accrue on the Registrable Securities subject to such Registration Statement at a rate of 0.25% per
annum for the first 90 days from and including such date on which the Registration Statement ceases to be effective and 0.50% per annum thereafter; 

provided, however, that (1) upon the filing of the Registration Statement (in the case of paragraph (a) above), (2) upon the
effectiveness of the Registration Statement (in the case of paragraph (b) above), (3) upon the consummation of the Exchange Offer or if the Exchange Offer is no longer required to be made (in the case of paragraph (c) above) or
(4) upon the effectiveness of the Registration Statement which had ceased to remain effective or usable for resales again becomes effective and usable for resales (in the case of paragraph (d) above), the Registration Default Damages shall
cease to accrue. 
 Any amounts of Registration Default Damages due pursuant to this Section 8 will be payable in cash on
the next succeeding interest payment date to Holders entitled to receive such Registration Default Damages on the relevant record dates for the payment of interest. If any Securities cease to be outstanding during any period for which Registration
Default Damages are accruing, the Company will prorate the Registration Default Damages payable with respect to such Securities. 
  

 20 

 The Registration Default Damages rate on the Securities shall not exceed in the aggregate
0.50% per annum and shall not be payable under more than one clause above for any given period of time, except that if Registration Default Damages would be payable because of more than one Registration Default, but at a rate of 0.25% per
annum under one Registration Default and at a rate of 0.50% per annum under the other, then the Registration Default Damages rate shall be the higher rate of 0.50% per annum. 

9. No Inconsistent Agreements. Neither the Company nor the Operating Partnership has entered into, and each agrees not to enter
into, any agreement with respect to its securities that is inconsistent with the rights granted to the Holders herein or that otherwise conflicts with the provisions hereof. 

10. Rule 144A and Rule 144. So long as any Registrable Securities remain outstanding, the Company shall use its reasonable best
efforts to file the reports required to be filed by it under the Exchange Act in a timely manner and, if at any time the Company is not required to file such reports, it will, upon the written request of any Holder of Registrable Securities, make
publicly available other information so long as necessary to permit sales of such Holder’s Registrable Securities pursuant to Rules 144 and 144A of the Act. The Company covenants that it will take such further action as any Holder of
Registrable Securities may reasonably request, all to the extent required from time to time to enable such Holder to sell Registrable Securities without registration under the Act within the limitation of the exemptions provided by Rules 144 and
144A (including, without limitation, the requirements of Rule 144A(d)(4)). Upon the written request of any Holder of Registrable Securities, the Company shall deliver to such Holder a written statement as to whether it has complied with such
requirements. Notwithstanding the foregoing, nothing in this Section 10 shall be deemed to require the Company or the Operating Partnership to register any of its securities pursuant to the Exchange Act. 

11. Amendments and Waivers. The provisions of this Agreement may not be amended, qualified, modified or supplemented, and waivers
or consents to departures from the provisions hereof may not be given, unless the Operating Partnership has obtained the written consent of the Holders of a majority of the aggregate principal amount of the Registrable Securities outstanding;
provided that, with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser hereunder, the Operating Partnership shall obtain the written consent of each such Initial Purchaser against which such
amendment, qualification, supplement, waiver or consent is to be effective; provided, further, that no amendment, qualification, supplement, waiver or consent with respect to Section 8 hereof shall be effective as against any
Holder of Registrable Securities unless consented to in writing by such Holder; and provided, further, that the provisions of this Section 11 may not be amended, qualified, modified or supplemented, and waivers or consents to
departures from the provisions hereof may not be given, unless the Operating Partnership has obtained the written consent of the Initial Purchasers and each Holder. Notwithstanding the foregoing (except the foregoing provisos), a waiver or consent
to departure from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders whose Securities or New Securities, as the case may be, are being sold pursuant to a Registration Statement and that does not directly
or indirectly affect the rights of other Holders may be given by the Majority Holders, determined on the basis of Securities or New Securities, as the case may be, being sold rather than registered under such Registration Statement. 

 

 21 

 12. Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, first-class mail, telex, telecopier or air courier guaranteeing overnight delivery: 

(a) if to a Holder, at the most current address given by such holder to the Operating Partnership in accordance with the provisions of
this Section 12, which address initially is, with respect to each Holder, the address of such Holder maintained by the Registrar under the Indenture; 

(b) if to the Initial Purchasers or the Representatives, initially at the address or addresses set forth in the Purchase Agreement; and

 (c) if to the Company or the Operating Partnership, initially at its address set forth in the Purchase Agreement. 

All such notices and communications shall be deemed to have been duly given when received. 

The Initial Purchasers, the Company or the Operating Partnership by notice to the other parties may designate additional or different
addresses for subsequent notices or communications. 
 Notwithstanding the foregoing, notices given to Holders holding
Securities in book-entry form may be given through the facilities of DTC or any successor depository. 
 13. Remedies.
Each Holder, in addition to being entitled to exercise all rights provided to it herein, in the Indenture or in the Purchase Agreement or granted by law, including recovery of liquidated or other damages, will be entitled to specific performance of
its rights under this Agreement. The Company and the Operating Partnership agree that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by them of the provisions of this Agreement and hereby agree to
waive in any action for specific performance the defense that a remedy at law would be adequate. 
 14. Successors. This
Agreement shall inure to the benefit of and be binding upon the parties hereto, their respective successors and assigns, including, without the need for an express assignment or any consent by the Company or the Operating Partnership thereto,
subsequent Holders of Securities and the New Securities, and the indemnified persons referred to in Section 6 hereof. The Company and the Operating Partnership hereby agree to extend the benefits of this Agreement to any Holder of Securities
and the New Securities, and any such Holder may specifically enforce the provisions of this Agreement as if an original party hereto. 

15. Counterparts. This Agreement may be signed in one or more counterparts, each of which shall constitute an original and all of
which together shall constitute one and the same agreement. 
  

 22 

 16. Headings. The section headings used herein are for convenience only and shall not
affect the construction hereof. 
 17. Applicable Law. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of New York without regard to conflict of law principles that would result in the application of any laws other than the laws of the State of New York. The parties hereto each hereby waive any right to trial by jury in
any action, proceeding or counterclaim arising out of or relating to this Agreement. 
 18. Severability. In the event
that any one or more of the provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in
every other respect and of the remaining provisions hereof shall not be in any way impaired or affected thereby, it being intended that all of the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law.

 19. Securities Held by the Operating Partnership, etc. Whenever the consent or approval of Holders of a specified
percentage of principal amount of Securities or New Securities is required hereunder, Securities or New Securities, as applicable, held by the Operating Partnership or its Affiliates (other than subsequent Holders of Securities or New Securities if
such subsequent Holders are deemed to be Affiliates solely by reason of their holdings of such Securities or New Securities) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage.

  

 23 

 If the foregoing is in accordance with your understanding of our agreement, please sign and
return to us the enclosed duplicate hereof, whereupon this letter and your acceptance shall represent a binding agreement by and among the Company, the Operating Partnership and the several Initial Purchasers. 

 

			
	Very truly yours,
	
	DIGITAL REALTY TRUST, INC.
		
	By:	 	 /s/ A. William Stein

	Name:	 	A. William Stein
	Title:	 	Chief Financial Officer, Chief Investment Officer and Secretary
	
	DIGITAL REALTY TRUST, L.P.
		
	By:	 	Digital Realty Trust, Inc., its General Partner
		
	By:	 	 /s/ A. William Stein

	Name:	 	A. William Stein
	Title:	 	Chief Financial Officer, Chief Investment Officer and Secretary

[Signature page to Registration Rights Agreement] 

			
	The foregoing Agreement is hereby confirmed and accepted as of the date first written above.
	
	 Citigroup Global Markets Inc.

Credit Suisse Securities (USA) LLC
 Banc of
America Securities LLC
 Morgan Stanley & Co. Incorporated

		
	By:	 	Citigroup Global Markets Inc.
		
	By:	 	 /s/ Andrew Power

	Name:	 	Andrew Power
	Title:	 	Vice President
		
	By:	 	Credit Suisse Securities (USA) LLC
		
	By:	 	 /s/ Shawn Cepeda

	Name:	 	Shawn Cepeda
	Title:	 	Managing Director
		
	By:	 	Banc of America Securities LLC
		
	By:	 	 /s/ Eric Anderson

	Name:	 	Eric Anderson
	Title:	 	Managing Director
		
	By:	 	Morgan Stanley & Co. Incorporated
		
	By:	 	 /s/ Edward Molloy

	Name:	 	Edward Molloy
	Title:	 	Executive Director

 [Signature page to
Registration Rights Agreement] 

 Schedule I 

Citigroup Global Markets Inc. 
 Banc of America
Securities LLC 
 Credit Suisse Securities (USA) LLC 

Morgan Stanley & Co. Incorporated 

Deutsche Bank Securities Inc. 
 J.P. Morgan
Securities Inc. 
 RBS Securities Inc.

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