Document:

Exhibit 4.2

 

[FORM OF SERIES 2013-A WARRANT CERTIFICATE]

 

Warrant Certificate Evidencing Series 2013-A
Warrants to Purchase Shares of

 

Common Stock, par value of $0.0001 per share,
as described herein, of

 

MEDGENICS, INC.

 

	 	 	 
	No. [___________]	 	CUSIP 58436Q 120

 

VOID AFTER 5:00 PM, NEW YORK CITY TIME,

ON FEBRUARY 13, 2018

 

This certifies that
                   or registered assigns
is the registered holder (the “Holder”) of             Series
2013-A warrants to purchase certain securities (each a “Warrant”). Each Warrant entitles the Holder, subject
to the provisions contained herein and in the Warrant Agreement (as defined below), to purchase from Medgenics, Inc., a Delaware
corporation (the “Company”), 0.50 of a share (collectively, the “Warrant Shares”) of common
stock, par value $0.0001 per share, of the Company (the “Common Stock”), at the Warrant Price set forth below.
The price per whole share at which each Warrant Share may be purchased at the time each Warrant is exercised (the “Warrant
Price”) is $6.78 initially, subject to adjustments as set forth in the Warrant Agreement.

 

This Warrant Certificate
is issued under and in accordance with the Warrant Agreement, dated as of February 8, 2013 (the “Warrant Agreement”),
between the Company and the Warrant Agent (as defined below), and is subject to the terms and provisions contained in the Warrant
Agreement, to all of which terms and provisions the Holder of this Warrant Certificate and the beneficial owners of the Warrants
represented by this Warrant Certificate consent by acceptance hereof. Copies of the Warrant Agreement are on file and can be inspected
at the below-mentioned office of the Warrant Agent and at the office of the Company at 555 California Street, Suite 365, San Francisco,
CA 94104. Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Warrant Agreement.

 

Subject to the terms
of the Warrant Agreement (including, without limitation, the ownership restrictions set forth in subsection 3.3.7 of the Warrant
Agreement), each Warrant evidenced hereby may be exercised at any time during the period (the “Exercise Period”)
beginning on the date of issuance and terminating at 5:00 PM, New York City time, on February 13, 2018 (the “Expiration
Date”), by delivering, not later than 5:00 PM, New York City time, on any Business Day during the Exercise Period (the
“Exercise Date”) to Corporate Stock Transfer, Inc. (the “Warrant Agent”, which term includes
any successor warrant agent under the Warrant Agreement) at its corporate trust department at 3200 Cherry Creek Drive South, Suite
430, Denver, CO 80209, (i) this Warrant Certificate or, in the case of a Book-Entry Warrant Certificate (as defined in the
Warrant Agreement), the Warrants to be exercised (the “Book-Entry Warrants”) as shown on the records of The
Depository Trust Company (the “Depository”) to an account of the Warrant Agent at the Depository designated
for such purpose in writing by the Warrant Agent to the Depository; and (ii) an election to purchase (“Election to
Purchase”), properly executed by the Holder hereof on the reverse of this Warrant Certificate or properly executed by
the institution in whose account the Warrant is recorded on the records of the Depository (the “Participant”),
and substantially in the form included on the reverse of this Warrant Certificate. The Warrant Price for each Warrant to be exercised
shall be paid to the order of the Company in lawful money of the United States of America by bank wire transfer in immediately
available funds on or before the Trading Day immediately after the Exercise Date, unless cashless exercise is permitted under the
Warrant Agreement. Each Warrant represented by this Warrant Certificate not exercised on or before the Expiration Date shall become
null and void, and all rights of the Holder of this Warrant Certificate shall cease at the close of business on the Expiration
Date.

 

Warrants
may be exercised only in whole numbers of Warrants. As to any fraction of a Warrant Share which the Holder would otherwise
be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such
fraction in an amount equal to such fraction multiplied by the Warrant Price or round up such fraction to the nearest whole share.
If fewer than all of the Warrants evidenced by a Warrant Certificate are exercised, a new Warrant Certificate for the number of
unexercised Warrants remaining shall be executed by the Company and countersigned by the Warrant Agent as provided in Section 2
of the Warrant Agreement, and delivered to the Holder at the address specified on the books of the Warrant Agent or as otherwise
specified by such Holder. If fewer than all of the Warrants evidenced by a Book-Entry Warrant Certificate are exercised, a notation
shall be made to the records maintained by the Depository, its nominee for each Book-Entry Warrant Certificate, or a Participant,
as appropriate, evidencing the balance of the Warrants remaining after such exercise.

 

The Warrant Price
and the number of Warrant Shares purchasable upon the exercise of each Warrant shall be subject to adjustment as provided pursuant
to Section 4 of the Warrant Agreement.

 

Upon due presentment
for registration of transfer or exchange of this Warrant Certificate at the stock transfer division of the Warrant Agent, the Company
shall execute, and the Warrant Agent shall countersign and deliver, as provided in Section 5 of the Warrant Agreement, in
the name of the designated transferee, one or more new Warrant Certificates of any authorized denomination evidencing in the aggregate
a like number of unexercised Warrants, subject to the limitations provided in the Warrant Agreement.

 

    	 

    	 

    

 

Neither this Warrant
Certificate nor the Warrants evidenced hereby entitles the Holder to any of the rights of a stockholder of the Company, including,
without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent
or to receive notice as stockholders in respect of the meetings of stockholders or the election of directors of the Company or
any other matter.

 

The Warrant Agreement
and this Warrant Certificate may be amended as provided in the Warrant Agreement including, under certain circumstances described
therein, without the consent of the Holder of this Warrant Certificate or the Warrants evidenced thereby.

 

THE VALIDITY, INTERPRETATION AND PERFORMANCE
OF THIS WARRANT CERTIFICATE, THE WARRANTS EVIDENCED HEREBY AND THE WARRANT AGREEMENT SHALL BE GOVERNED IN ALL RESPECTS BY THE LAWS
OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO CONFLICT OF LAWS.

 

This Warrant Certificate
shall not be entitled to any benefit under the Warrant Agreement or be valid or obligatory for any purpose, and no Warrant evidenced
hereby may be exercised, unless this Warrant Certificate has been countersigned by the manual signature of the Warrant Agent.

 

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

 

Dated as of February _____, 2013

 

	MEDGENICS, INC.
	 	 
	
        By: ____________________________________ 

	Name:
	
        Title: [Chairman of the Board, Chief

                 Executive
        Officer, or President]

	 
	
        By: ____________________________________ 

	Name:
	
        Title: [Treasurer, Secretary, or Assistant

                 Secretary]

 

	CORPORATE STOCK TRANSFER, INC.
	 	 
	
        By: ____________________________________

        

	Name:
	Title:

 

    	 

    	 

    

 

[REVERSE]

 

Instructions for Exercise of Warrant

 

To exercise the Warrants
evidenced hereby, the Holder must, no later than 5:00 PM, New York City time, on the Trading Day immediately after the specified
Exercise Date, deliver to the Warrant Agent at its stock transfer division, by bank wire transfer in immediately available funds,
payable to the Company, an amount equal to the Warrant Price in full for the Warrants exercised. In addition, the Holder must provide
the information required below and deliver this Warrant Certificate to the Warrant Agent at the address set forth below and the
Book-Entry Warrants to the Warrant Agent in its account with the Depository designated for such purpose. The Warrant Certificate
and this Election to Purchase must be received by the Warrant Agent by 5:00 PM, New York City time, on the specified Exercise Date.

 

ELECTION TO PURCHASE

TO BE EXECUTED IF WARRANT HOLDER DESIRES

TO EXERCISE THE WARRANTS EVIDENCED HEREBY

 

The undersigned hereby irrevocably elects
to exercise, on                    
(the “Exercise Date”),             Warrants, evidenced
by this Warrant Certificate, to purchase             shares (the “Warrant
Shares”) of common stock, par value of $0.0001 per share (the “Common Stock”) of Medgenics, Inc.,
a Delaware corporation (the “Company”), and represents that on or before the Exercise Date:

 

 ̈
such Holder has tendered payment for such Warrant Shares by bank wire transfer in immediately available funds payable to the Company
at Account No.         , in the amount of $        in
accordance with the terms hereof, or

 

 ̈
[if permitted] the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection
3.3.4 of the Warrant Agreement, to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant
to the cashless exercise procedure set forth in subsection 3.3.4.

 

The undersigned requests that said number
of Warrant Shares be in fully registered form, registered in such names and delivered, all as specified in accordance with the
instructions set forth below.

 

If said number of Warrant Shares is less
than all of the Warrant Shares purchasable hereunder, the undersigned requests that a new Warrant Certificate evidencing the remaining
balance of the Warrants evidenced hereby be issued and delivered to the Holder of the Warrant Certificate, unless otherwise specified
in the instructions below.

 

Dated: _____________, 201__

 

	Name:	 	 	 
	(Please Print)	 
	            -             -                    	 	 
	(Insert Social Security or Other Identifying Number of Holder)	 	 
	 	 	 
	Address	 	 	 
	 	 	 
	 	 	 	 
	 	 	 
	Signature	 	 	 
	 	 	 	 	 

This Warrant may only be exercised by presentation to the Warrant
Agent at one of the following locations:

 

	By hand at:	 	Corporate Stock Transfer, Inc.
	 	 	3200 Cherry Creek Drive South
	 	 	Suite 430
	 	 	Denver, CO 80209
	 	 
	By mail at:	 	Corporate Stock Transfer, Inc.
	 	 	3200 Cherry Creek Drive South
	 	 	Suite 430
	 	 	Denver, CO 80209

 

    	 

    	 

    

 

The method of delivery of this Warrant Certificate is at the
option and risk of the exercising Holder and the delivery of this Warrant Certificate will be deemed to be made only when actually
received by the Warrant Agent. If delivery is by mail, registered mail with return receipt requested, properly insured, is recommended.
In all cases, sufficient time should be allowed to insure timely delivery.

 

(Instructions as to form and delivery of Warrant Shares and/or
Warrant Certificates)

 

	 
	Name in which Warrant Shares are to be registered if other than in the name of the Holder of this Warrant Certificate:
	 

 

Address to which Warrant Shares are to be mailed if other than
to the address of the Holder of this Warrant Certificate as shown on the books of the Warrant Agent:

	 
	 
	 
	(Street Address)
	 
	 
	(City and State) (Zip Code)

 

Name in which Warrant Certificate evidencing unexercised Warrants,
if any, is to be registered if other than in the name of the Holder of this Warrant Certificate:

	 

 

	 	 	 
	Address to which certificate representing unexercised Warrants, if any, is to be mailed if other than to the address of the Holder of this Warrant Certificate as shown on the books of the Warrant Agent:

 

	 
	 
	(Street Address)
	 
	 
	(City and State) (Zip Code)

 

	 	 	Dated:                              , 201___
	 	 	 
	 	 	 
	 	 	Signature
	 	 	 
	 	 	(Signature must conform in all respects to the name of the holder as specified on the face of this Warrant Certificate and must bear a signature guarantee by an Eligible Guarantor Institution (as that term is defined in Rule 17Ad-15 of the Securities Exchange Act of 1934, as amended).
	SIGNATURE GUARANTEE	 	 
	Name of Firm                                                   	 	 
	Address                                                             	 	 
	Area Code	 	 
	and Number                                                   	 	 
	Authorized	 	 
	Signature                                                       	 	 
	Name                                                                	 	 
	Title                                                                  	 	 
	Dated:                                                 , 201__	 	 

 

    	 

    	 

    

 

 

ASSIGNMENT

 

(FORM OF ASSIGNMENT TO BE EXECUTED IF WARRANT
HOLDER

DESIRES TO TRANSFER WARRANTS EVIDENCED HEREBY)

 

 FOR VALUE RECEIVED, _________________ hereby sell(s),
assign(s) and transfer(s) unto

 

________________________________________________________

________________________________________________________

________________________________________________________

(Please print name and address including zip code of assignee)

 

	(Please insert social security or	 
	other identifying number of assignee):	 

 

the rights represented by the within Warrant
Certificate and does hereby irrevocably constitute and appoint ____________ Attorney to transfer said Warrant Certificate on the
books of the Warrant Agent with full power of substitution in the premises.

 

	 	 	Dated:                              , 201___
	 	 	 
	 	 	 
	 	 	Signature
	 	 	 
	 	 	(Signature must conform in all respects to the name of the holder as specified on the face of this Warrant Certificate and must bear a signature guarantee by an Eligible Guarantor Institution (as that term is defined in Rule 17Ad-15 of the Securities Exchange Act of 1934, as amended).
	SIGNATURE GUARANTEE	 	 
	Name of Firm                                                   	 	 
	Address                                                             	 	 
	Area Code	 	 
	and Number                                                   	 	 
	Authorized	 	 
	Signature                                                       	 	 
	Name                                                                	 	 
	Title                                                                  	 	 
	Dated:                                                 , 201__EXHIBIT 4.1

 

SELECTIVE INSURANCE GROUP, INC.

 

AND

 

U.S. BANK

NATIONAL ASSOCIATION

 

Trustee

 

 

 

Indenture

 

 

 

Dated as of February 8, 2013

 

 

 

    	 

    	 

    

 

SELECTIVE INSURANCE GROUP, INC.

 

Indenture Dated as of February 8, 2013

 

CROSS REFERENCE SHEET*

 

Showing the Location in the Indenture of
the Provisions Inserted Pursuant to Sections 310 to 318(a) inclusive of the Trust Indenture Act of 1939.

 

	
        Provisions
        of

        Trust Indenture Act

        of 1939
	
        Indenture
        Provision

	§ 310(a)(1), (2)	§ 8.09
	(3)	Not Applicable
	(4)	Not Applicable
	(b)	§ 8.08; § 8.10
	(c)	Not Applicable
	§ 311(a)	§ 8.13(a)
	(b)	§ 8.13(b)
	(b)(2)	§ 9.03 (a)(ii); § 9.03(b)
	(c)	Not Applicable
	§ 312(a)	§ 9.01; § 9.02(a)
	(b)	§ 9.02(b)
	(c)	§ 9.02(c)
	§ 313(a)	§ 9.03(a)
	(b)(1)	Not Applicable
	(2)	§ 9.03(b)
	(c)	§ 9.03(a); § 9.03(b)
	(d)	§ 9.03(c)
	§ 314(a)	§ 9.04
	(b)	Not Applicable
	(c)	§ 1.02
	(d)	Not Applicable
	(e)	§ 1.02
	(f)	Not Applicable
	§ 315(a)(1)	§ 8.01(a)(i)
	(2)	§ 8.01(a)(ii)
	(b)	§ 8.02
	(c)	§ 8.01(b)
	(d)(1)	§ 8.01(a)
	(2)	§ 8.01(c)(ii)
	(3)	§ 8.01(c)(iii)
	(e)	§ 7.14
	§ 316(a)	§ 7.12; § 7.13
	(b)	§ 7.08
	(c)	§ 1.04
	§ 317(a)(1), (2)	§ 7.03; § 7.04
	(b)	§ 12.03
	§ 318(a)	§ 1.08
	 	 

* This Cross Reference Sheet is not part of the Indenture.

 

    	i

    	 

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	 	ARTICLE I	 
	 	 	 
	 	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	 
	 	 	 
	Section 1.01	Definitions	1
	Section 1.02	Compliance Certificates and Opinions	6
	Section 1.03	Form of Documents Delivered to Trustee	7
	Section 1.04	Act of Holders.	7
	Section 1.05	Notices, etc., to Trustee and Company	8
	Section 1.06	Notice to Holders; Waiver	8
	Section 1.07	Immunity of Incorporator, Stockholders, Officers and Directors	9
	Section 1.08	Conflict with Trust Indenture Act	9
	Section 1.09	Effect of Headings and Table of Contents	9
	Section 1.10	Successors and Assigns	9
	Section 1.11	Separability Clause	9
	Section 1.12	Benefits of Indenture	9
	Section 1.13	Governing Law	9
	Section 1.14	Cross References	9
	Section 1.15	Counterparts	10
	Section 1.16	Legal Holidays	10
	Section 1.17	Securities in Foreign Currencies	10
	 	 	 
	 	ARTICLE II	 
	 	 	 
	 	SECURITY FORMS	 
	 	 	 
	Section 2.01	Forms Generally	10
	Section 2.02	Form of Certificate of Authentication	10
	Section 2.03	Securities in Global Form	11
	 	 	 
	 	ARTICLE III	 
	 	 	 
	 	THE SECURITIES	 
	 	 	 
	Section 3.01	Amount Unlimited; Issuable in Series	11
	Section 3.02	Denominations	14
	Section 3.03	Authentication and Dating	14
	Section 3.04	Execution of Securities	15
	Section 3.05	Exchange and Registration of Transfer of Securities	15
	Section 3.06	Mutilated, Destroyed, Lost or Stolen Securities	17
	Section 3.07	Temporary Securities	18
	Section 3.08	Payment of Interest; Interest Rights Preserved	18
	Section 3.09	Persons Deemed Owners	19
	Section 3.10	Cancellation	20
	Section 3.11	Computation of Interest	20

 

    	ii

    	 

    
 

	 	ARTICLE IV	 
	 	 	 
	 	REDEMPTION OF SECURITIES	 
	Section 4.01	Applicability of Article	20
	Section 4.02	Election to Redeem; Notice to Trustee	20
	Section 4.03	Selection by Trustee of Securities to Be Redeemed	20
	Section 4.04	Notice of Redemption	21
	Section 4.05	Deposit of Redemption Price	21
	Section 4.06	Securities Payable on Redemption Date	21
	Section 4.07	Securities Redeemed in Part	23
	 	ARTICLE V	 
	 	 	 
	 	SINKING FUNDS	 
	Section 5.01	Applicability of Article	22
	Section 5.02	Satisfaction of Mandatory Sinking Fund Payments with Securities	22
	Section 5.03	Redemption of Securities for Sinking Fund	22
	 	ARTICLE VI	 
	 	 	 
	 	SATISFACTION AND DISCHARGE	 
	Section 6.01	Satisfaction and Discharge of Indenture	24
	Section 6.02	Satisfaction, Discharge and Defeasance of Securities of any Series	25
	Section 6.03	Application of Trust Money	26
	Section 6.04	Paying Agent to Repay Moneys Held	26
	Section 6.05	Return of Unclaimed Moneys	26
	 	ARTICLE VII	 
	 	 	 
	 	REMEDIES	 
	Section 7.01	Events of Default	27
	Section 7.02	Acceleration of Maturity; Rescission and Annulment	28
	Section 7.03	Collection of Indebtedness and Suits for Enforcement by Trustee	29
	Section 7.04	Trustee May File Proofs of Claim	30
	Section 7.05	Trustee May Enforce Claims without Possession of Securities	30
	Section 7.06	Application of Money Collected	31
	Section 7.07	Limitation on Suits	31
	Section 7.08	Unconditional Right of Holders to Receive Principal, Premium and Interest	32
	Section 7.09	Restoration of Rights and Remedies	32
	Section 7.10	Rights and Remedies Cumulative	32
	Section 7.11	Delay or Omission Not Waiver	32
	Section 7.12	Control by Holders	32
	Section 7.13	Waiver of Past Defaults	32
	Section 7.14	Undertaking for Costs	33
	Section 7.15	Waiver of Stay or Extension Laws	33

 

 

    	iii

    	 

    
 

 

	 	ARTICLE VIII	 
	 	 	 
	 	THE TRUSTEE	 
	Section 8.01	Certain Duties and Responsibilities	33
	Section 8.02	Notice of Defaults	34
	Section 8.03	Certain Rights of Trustee	35
	Section 8.04	Not Responsible for Recitals or Issuance of Securities	36
	Section 8.05	May Hold Securities	36
	Section 8.06	Money Held in Trust	36
	Section 8.07	Compensation and Reimbursement	36
	Section 8.08	Disqualification; Conflicting Interests	37
	Section 8.09	Corporate Trustee Required; Different Trustees for Different Series; Eligibility	37
	Section 8.10	Resignation and Removal; Appointment of Successor	37
	Section 8.11	Acceptance of Appointment by Successor	39
	Section 8.12	Merger, Conversion, Consolidation or Succession to Business	39
	Section 8.13	Preferential Collection of Claims against Company	39
	Section 8.14	Authenticating Agent	40
	 	 	 
	 	ARTICLE IX	 
	 	 	 
	 	HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY	 
	 	 	 
	Section 9.01	Company to Furnish Trustee Names and Addresses of Holders	41
	Section 9.02	Preservation of Information; Communications to Holders	41
	Section 9.03	Reports by Trustee	42
	Section 9.04	Reports by Company	42
	 	 	 
	 	ARTICLE X	 
	 	 	 
	 	CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER	 
	 	 	 
	Section 10.01	Company May Consolidate, etc., Only on Certain Terms	43
	Section 10.02	Successor Person Substituted	44
	 	 	 
	 	ARTICLE XI	 
	 	 	 
	 	SUPPLEMENTAL INDENTURES	 
	 	 	 
	Section 11.01	Supplemental Indentures without Consent of Holders	44
	Section 11.02	Supplemental Indentures with Consent of Holders	45
	Section 11.03	Execution of Supplemental Indentures	46
	Section 11.04	Notice of Supplemental Indenture	46
	Section 11.05	Effect of Supplemental Indentures	47
	Section 11.06	Conformity with Trust Indenture Act	47
	Section 11.07	Reference in Securities to Supplemental Indentures	47

 

 

    	iv

    	 

    
 

	 	ARTICLE XII	 
	 	 	 
	 	COVENANTS	 
	 	 	 
	Section 12.01	Payment of Principal, Premium and Interest	47
	Section 12.02	Maintenance of Office or Agency	47
	Section 12.03	Money for Securities Payments to Be Held in Trust	48
	Section 12.04	Statement as to Compliance	48
	Section 12.05	Corporate Existence	49
	Section 12.06	Permit No Vacancy in Office of Trustee	49
	Section 12.07	Waiver	49

 

 

    	v

    	 

    

 

INDENTURE, dated as of February 8, 2013,
between SELECTIVE INSURANCE GROUP, INC., a New Jersey corporation, having its principal office at 40 Wantage Avenue, Branchville,
New Jersey 07890 (the "Company"), and U.S. BANK NATIONAL ASSOCIATION,
a national banking association, having its corporate trust office at U.S. Bank, 10 W. Market Street, Suite 1150, Indianapolis,
IN 46204, as trustee hereunder (the "Trustee").

 

RECITALS OF THE COMPANY

 

The Company is authorized to borrow money
for its corporate purposes and to issue debentures, notes or other evidences of unsecured indebtedness therefor; and for its corporate
purposes, the Company has determined to make and issue its debentures, notes or other evidences of unsecured indebtedness to be
issued in one or more series (the "Securities"), as hereinafter provided,
up to such principal amount or amounts as may from time to time be authorized by or pursuant to the authority granted in one or
more resolutions of the Board of Directors.

 

All things necessary to make this Indenture
a valid and legally binding agreement of the Company, in accordance with its terms, have been done.

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

That, in consideration of the premises and
of the mutual covenants herein contained and of the purchase and acceptance of the Securities by the holders thereof and of the
sum of One Dollar to the Company duly paid by the Trustee at or before the sealing and delivery of these presents, and for other
valuable considerations, the receipt whereof is hereby acknowledged, and in order to declare the terms and conditions upon which
the Securities are to be issued, IT IS HEREBY COVENANTED, DECLARED AND AGREED, by and between the parties hereto, that all the
Securities are to be executed, authenticated and delivered subject to the further covenants and conditions hereinafter set forth;
and the Company, for itself and its successors, does hereby covenant and agree to and with the Trustee and its successors in said
trust, for the benefit of those who shall hold the Securities, or any of them, as follows:

 

ARTICLE
I

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 

Section 1.01 Definitions. For all
purposes of this Indenture, of all indentures supplemental hereto and all Securities issued hereunder except as otherwise expressly
provided or unless the context otherwise requires: (a) the terms defined in this Article shall have the meanings assigned to them
in this Article, and include the plural as well as the singular; (b) all terms used in this Indenture, in any indenture supplemental
hereto or in any such Securities which are defined in the Trust Indenture Act shall have the meanings assigned to them in said
Act; (c) all accounting terms not otherwise defined herein or in such Securities shall have the meanings assigned to them in accordance
with generally accepted accounting principles.

 

Certain terms used in Article Eight hereof
are defined in that Article.

 

"Act"
when used with respect to any Holder has the meaning specified in Section 1.04 hereof.

 

    	1

    	 

    
 

"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 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.

 

"Authenticating
Agent" has the meaning specified in Section 8.14 hereof.

 

"Authorized
Newspaper" means a newspaper of general circulation in the same city in which the Place of Payment with respect
to Securities of a series shall be located or in the Borough of Manhattan, The City of New York, printed in the English language
and customarily published on each Business Day, whether or not published on Saturdays, Sundays or holidays. Whenever successive
weekly publications in an Authorized Newspaper are required hereunder they may be made (unless otherwise expressly provided herein)
on the same or different days of the week and in the same or in different Authorized Newspapers.

 

"Bearer
Rules" means the provisions of the Internal Revenue Code, in effect from time to time, governing the treatment
of bearer obligations and any regulations thereunder including, to the extent applicable to any series of Securities, proposed
or temporary regulations.

 

"Board
of Directors" means either the board of directors of the Company or any committee of that board duly authorized
to act for it in respect hereof.

 

"Board
Resolution" means a copy of a resolution or resolutions certified by the Secretary or an Assistant Secretary of
the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification,
and delivered to the Trustee.

 

"Business
Day" means (i) when used with respect to any payment, each Monday, Tuesday, Wednesday, Thursday and Friday which
is not a day on which banking institutions in the Place of Payment with respect to such payment are authorized or required by law
or executive order to close and (ii) when used for any other purpose, each Monday, Tuesday, Wednesday, Thursday and Friday which
is not a day on which banking institutions in the Borough of Manhattan, The City of New York, or in the city in which the Corporate
Trust Office of the Trustee is located, are authorized or required by law or executive order to close.

 

"Commission"
means the United States Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act or,
if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to
it under the Trust Indenture Act, then the body performing such duties on such date.

 

"Company"
means the corporation named as the "Company" in the first paragraph of this instrument until a successor corporation
shall have become such pursuant to the applicable provisions of this Indenture, and thereafter "Company" shall mean each
such successor corporation.

 

"Company
Consent," "Company Order" and "Company
Request" mean, respectively, a written consent, order or request signed in the name of the Company by its Chairman
of the Board, any one of its Vice Chairmen, the Chief Executive Officer, its President, any one of its Senior Executive Vice Presidents,
any one of its Executive Vice Presidents, any one of its Senior Vice Presidents, any one of its Vice Presidents, its Treasurer,
any one of its Assistant Treasurers, its Secretary or any one of its Assistant Secretaries, and delivered to the Trustee.

 

    	2

    	 

    
 

"Corporate
Trust Office" means the principal office of the Trustee at which at any particular time its corporate trust business
shall be principally administered, which office of U.S. Bank National Association, at the date of the execution of this Indenture,
is located at U.S. Bank, 10 W. Market Street, Suite 1150, Indianapolis, IN 46204, Attention: Pamela Cole.

 

"corporation"
means a corporation, association, company or business trust.

 

"Defaulted
Interest" has the meaning specified in Section 3.08 hereof.

 

"Depositary"
when used with respect to the Securities of any series issuable or issued, in whole or in part, in the form of a Global Security,
means the Person designated as Depositary by the Company pursuant to Section 3.01 until a successor Depositary shall have become
such pursuant to the applicable provisions of this Indenture, and thereafter "Depositary" shall mean or include each
Person who is then a Depositary hereunder, and if at any time there is more than one such Person, "Depositary" as used
with respect to the Securities of any such series shall mean the Depositary with respect to the Securities of that series.

 

"Dollars"
and the sign "$" mean the coin or currency of the United States of America
as, at the time of payment, is legal tender for the payment of public and private debts.

 

"Exchange
Act" means the Securities Exchange Act of 1934, as amended.

 

"Event
of Default": See Section 7.01 hereof.

 

"Federal
Bankruptcy Code": See Section 7.01 hereof.

 

"Foreign
Currency" means any currency issued by the government of any country other than the United States of America or
any composite currency (including, without limitation, the European Currency Unit).

 

"Global
Security" means a Security issued to evidence all or a part of any series of Securities which is executed by the
Company and authenticated and delivered to the Depositary or pursuant to the Depositary's instructions, all in accordance with
this Indenture and pursuant to a Company Order, which shall be registered in the name of the Depositary or its nominee.

 

"Holder"
means, unless otherwise established as contemplated by Section 3.01 with respect to the Securities of any series, a Person in whose
name a Security of any series is registered in the Securities Register for the Securities of such series.

 

"Indenture"
means this instrument as originally executed, or as it may be amended or supplemented from time to time as herein provided, and
shall include the form and terms of the Securities of each series established as contemplated by Sections 2.01 and 3.01.

 

"interest"
when used with respect to any non-interest bearing Security means interest payable after Maturity thereof.

 

"Interest
Payment Date" when used with respect to the Securities of any series means the Stated Maturity of an installment
of interest on the Securities of such series.

 

    	3

    	 

    
 

"Maturity"
when used with respect to any Security means the date on which the principal of such Security becomes due and payable whether at
the Stated Maturity or by declaration of acceleration, call for redemption, pursuant to a sinking fund, notice of option to elect
repayment or otherwise.

 

"Officer's
Certificate" means a certificate of the Company signed by its Chairman of the Board, any one of its Vice Chairmen,
the Chief Executive Officer, its President, any one of its Senior Executive Vice Presidents, any one of its Executive Vice Presidents,
any one of its Senior Vice Presidents, any one of its Vice Presidents, its Treasurer, any one of its Assistant Treasurers, its
Secretary or any one of its Assistant Secretaries, and delivered to the Trustee. Wherever this Indenture requires that an Officer's
Certificate be signed also by an accountant or other expert, such accountant or other expert (except as otherwise expressly provided
in this Indenture) may be in the employ of the Company and shall be acceptable to the Trustee.

 

"Opinion
of Counsel" means a written opinion of the counsel, who may be an employee of or of counsel to the Company, or
other counsel reasonably satisfactory to the Trustee.

 

"Original
Issue Discount Security" means any Security which (i) is issued at a price lower than the amount payable upon the
Stated Maturity thereof and (ii) provides for an amount less than the principal amount thereof to be due and payable upon redemption
or a declaration of acceleration of the Stated Maturity thereof pursuant to Section 7.02 hereof.

 

"Outstanding"
when used with respect to Securities means, as of the date of determination, all Securities theretofore authenticated and delivered
under this Indenture, except:

 

(a) Securities theretofore cancelled
by the Trustee or delivered to the Trustee for cancellation;

 

(b) Securities or portions thereof
for whose payment or redemption money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent
(other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying
Agent) for the Holders of such Securities; provided, however, that, if such Securities or portions thereof are to
be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the
Trustee has been made; and

 

(c) Securities paid or in exchange
for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture unless proof satisfactory
to the Trustee is presented that any such Securities are held by a Holder in due course;

 

provided, however, that in determining whether
the Holders of the requisite principal amount of Securities Outstanding have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, (i) Securities owned by the Company or any other obligor upon the Securities or any Affiliate
of the Company or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether
the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only
Securities which the Trustee knows to be so owned shall be so disregarded (Securities so owned which have been pledged in good
faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the right of the pledgee so
to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any
Affiliate of the Company or such other obligor), and (ii) the principal amount of an Original Issue Discount Security that shall
be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of
the date of such determination upon a declaration of acceleration pursuant to Section 7.02 hereof.

 

    	4

    	 

    
 

"Overdue
Rate" when used with respect to the Securities of any series, means the rate designated as such and established
as contemplated by Section 3.01 for the Securities of such series.

 

"Paying
Agent" means any Person authorized by the Company to pay the principal of (or premium, if any) or interest, if
any, on any Securities on behalf of the Company.

 

"Person"
means any individual, corporation, partnership, limited liability company, joint venture, joint stock company, trust, unincorporated
organization or government or any agency or political subdivision thereof.

 

"Place
of Payment" when used with respect to the Securities of any series means the place or places where the principal
of (and premium, if any) and interest, if any, on the Securities of such series are specified as payable, established as contemplated
by Section 3.01 or, if not so established, specified in Section 12.02.

 

"Predecessor
Securities" of any particular Security means every previous Security evidencing all or a portion of the same debt
as that evidenced by such particular Security; and for the purposes of this definition, any Security authenticated and delivered
under Section 3.06 hereof in lieu of a mutilated, lost, destroyed or stolen Security shall be deemed to evidence the same debt
as the mutilated, lost, destroyed or stolen Security.

 

"record
date" has the meaning specified in Section 3.08 hereof.

 

"Redemption
Date" when used with respect to any Security or portion thereof to be redeemed means the date fixed for such redemption
pursuant hereto.

 

"Redemption
Price" when used with respect to any Security or portion thereof to be redeemed on any Redemption Date means the
price at which it is to be so redeemed, established as contemplated by Section 3.01 exclusive of interest accrued and unpaid to
such Redemption Date.

 

"Responsible
Officer" when used with respect to the Trustee means any officer of the Trustee authorized by the Trustee to administer
its corporate trust matters.

 

"Securities"
has the meaning specified in RECITALS OF THE COMPANY herein.

 

"Securities
Register" and "Securities Registrar" have the meaning
specified in Section 3.05 hereof.

 

"Stated
Maturity" when used with respect to any Security or any installment of interest thereon means the date specified
in such Security as the fixed date on which the principal of such Security or such installment of interest is due and payable.

 

"Subsidiary"
of any Person means (i) any corporation of which such Person at the time owns or controls, directly or through an intervening medium,
more than fifty per cent (50%) of each class of outstanding Voting Stock, (ii) any limited liability company, general partnership,
joint venture, joint stock company or similar entity, of which such Person at the time owns or controls, directly or through an
intervening medium, more than fifty per cent (50%) of its outstanding partnership, membership or similar voting interests, as the
case may be and (iii) any limited partnership of which such Person, directly or through an intervening medium, is a general partner,
and unless otherwise specified shall mean a Subsidiary of the Company.

 

    	5

    	 

    
 

"Trustee"
means the Person named as the "Trustee" in the first paragraph of this
instrument and, subject to the provisions of Article Eight hereof, shall also include its successors and assigns as Trustee hereunder.
If there shall be at any one time more than one Trustee hereunder, "Trustee"
shall mean each such Trustee and shall apply to each such Trustee only with respect to the Securities of those series with respect
to which it is serving as Trustee.

 

"Trust
Indenture Act" and "TIA" means the Trust Indenture Act
of 1939, as amended and as in force at the date as of which this instrument was executed, except as provided in Section 11.06 hereof.

 

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

 

"Vice
President" when used with respect to the Company means any vice president, whether or not designated by a number
or a word or words added before or after the title "Vice President."

 

"Voting
Stock" means stock of the class or classes having general voting power under ordinary circumstances to elect at
least a majority of the board of directors, managers or trustees of such corporation (irrespective of whether or not, at the time,
stock of any other class or classes shall have or might have voting power by reason of the happening of any contingency).

 

Section 10.2 Compliance Certificates and
Opinions. Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture,
the Company shall furnish to the Trustee an Officer's Certificate stating that all conditions precedent (including any covenant
compliance with which constitutes a condition precedent), if any, provided for in this Indenture relating to the proposed action
have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if
any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents
is specifically required by any provision of this Indenture relating to such particular application or request, no additional
certificate or opinion need be furnished.

 

Every certificate or opinion with respect
to compliance with a condition or covenant provided for in this Indenture shall include:

 

    	6

    	 

    
 

(a)          
a statement that each individual signing such certificate or opinion has read such covenant or condition and the definitions
herein relating thereto;

 

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

 

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

 

(d)         
a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with.

 

Section 10.3 Form of Documents Delivered
to Trustee. In any case where several matters are required to be certified by, or covered by an opinion of, any specified
Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that
they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some
matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such
matters in one or several documents.

 

Any certificate or opinion of an officer
of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel,
unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel
may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or
officers of the Company stating that the information with respect to such factual matters is in the possession of the Company,
unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations
with respect to such matters are erroneous.

 

Any certificate, statement or opinion of
an Officer of the Company or of counsel may be based, insofar as it relates to accounting matters, upon a certificate or opinion
of, or representations by, an accountant or firm of accountants in the employ of the Company, unless such Officer or counsel, as
the case may be, knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with
respect to the accounting matters upon which his or her certificate, statement or opinion is based are erroneous.

 

Where any Person is required to make, give
or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture,
they may, but need not, be consolidated to form one instrument.

 

Section
1.04 Act of Holders.

 

(a)          
Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be
given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by
such Holders in person or by such agent duly appointed in writing; and, except as herein otherwise expressly provided, such action
shall become effective when such instrument or instruments are delivered to the Trustee, and, where it is hereby expressly required,
to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred
to as the "Act" of the Holders signing such instrument or instruments.
Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this
Indenture and (subject to Section 8.01 hereof) conclusive in favor of the Trustee and the Company, if made in the manner provided
in this Section 1.04.

 

    	7

    	 

    
 

(b)         
The fact and date of the execution by any Person of any such instrument or writing, or the authority of the Person executing
the same, may be proved in any manner that the Trustee deems sufficient and in accordance with such reasonable requirements as
the Trustee may determine.

 

(c)          
The ownership of Securities of any series shall be proved by the Securities Register.

 

(d)         
Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Security shall
bind the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in
respect of anything done or suffered to be done by the Trustee or the Company or any agent of the Trustee or the Company in reliance
thereon, whether or not notation of such action is made upon such Security.

 

(e)          
The Company may set a record date for purposes of determining the identity of Holders entitled to vote or consent or take
any other action under this Indenture, which record date shall not be more than 60 days nor less than 10 days prior to the solicitation
with respect thereto, and only such Holders shall be so entitled.

 

Section
1.05 Notices, etc., to Trustee and Company. Any request, demand, authorization, direction, notice, consent, waiver or Act
of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with,

 

(a)          
the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or
filed in writing to or with the Trustee at its Corporate Trust Office, or

 

(b)         
the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (except as provided in Subsection
(d) of Section 7.01 hereof) if in writing and mailed, first-class postage prepaid, addressed to the Company at the address of its
principal office specified in the first paragraph of this instrument or at any other address previously furnished in writing to
the Trustee by the Company.

 

Section 1.06 Notice
to Holders; Waiver. Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently
given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected
by such event, at his address as it appears in the Securities Register, not later than the latest date, and not earlier than the
earliest date, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure
to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice
with respect to other Holders. Any notice mailed in the manner prescribed by this Indenture shall be deemed to have been given
whether or not such Holder receives said notice. Where this Indenture provides for notice in any manner, such notice may be waived
in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent
of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent
to the validity of any action taken in reliance upon such waiver.

 

    	8

    	 

    
 

Section
1.07 Immunity of Incorporator, Stockholders, Officers and Directors. No recourse shall be had for the payment of the principal
of (and premium, if any) or the interest, if any, on any Security of any series, or for any claim based thereon, or upon any obligation,
covenant or agreement of this Indenture, against any incorporator, stockholder, officer or director, as such, past, present or
future of the Company or of any successor corporation, either directly or indirectly through the Company or any successor corporation,
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 agreed and understood that this Indenture and all the Securities are solely corporate obligations, and that
no personal liability whatever shall attach to, or is incurred by, any incorporator, stockholder, officer or director, past, present
or future, of the Company or of any successor corporation, either directly or indirectly through the Company or any successor
corporation, because of the incurring of the indebtedness hereby authorized or under or by reason of any of the obligations, covenants
or agreements contained in this Indenture or in any of the Securities, or to be implied herefrom or therefrom; and that all such
personal liability is hereby expressly released and waived as a condition of, and as part of the consideration for, the execution
of this Indenture and the issue of the Securities.

 

Section 1.08
Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with any provision deemed
to be included in this Indenture by any of the provisions of the Trust Indenture Act, such deemed-included provision shall control.

 

Section
1.09 Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for
convenience only and shall not affect the construction hereof.

 

Section
1.10 Successors and Assigns. All covenants and agreements in this Indenture by the Company shall bind its successors and
assigns, whether so expressed or not.

 

Section
1.11 Separability Clause. In case any provision in this Indenture or in any Securities shall be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions hereof or of any Securities shall not in any way be affected
or impaired thereby.

 

Section
1.12 Benefits of Indenture. Nothing in this Indenture or in the Securities, expressed or implied, shall give to any Person,
other than the parties hereto and their successors hereunder, and the Holders of the Securities, any benefit or any legal or equitable
right, remedy or claim under this Indenture.

 

Section
1.13 Governing Law. This Indenture and each Security shall be deemed to be a contract made under the laws of the State
of New York and this Indenture and each Security for all purposes shall be governed by and construed in accordance with the laws
of the State of New York.

 

Section
1.14 Cross References. All references herein to "Articles" and other subdivisions are to the corresponding Articles
or other subdivisions of this Indenture; and the words "herein," "hereof," "hereby," "hereunder,"
"hereinbefore" and "hereinafter" and other words of similar purport refer to this Indenture generally and
not to any particular Article, Section or other subdivision hereof.

 

    	9

    	 

    
 

Section
1.15 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
1.16 Legal Holidays. In any case where any Interest Payment Date, Redemption Date or Stated Maturity of a Security of any
series is not a Business Day at the relevant Place of Payment with respect to Securities of such series, then notwithstanding
any other provision of this Indenture or the Securities, payment of interest, if any, or principal and premium, if any, with respect
to such Security need not be made at such Place of Payment on such date but may be made on the next succeeding Business Day at
such Place of Payment with the same force and effect as if made on such Interest Payment Date or Redemption Date or at the Stated
Maturity, and no interest shall accrue on such payment for the period from and after such Interest Payment Date, Redemption Date
or Stated Maturity, as the case may be.

 

Section 1.17
Securities in Foreign Currencies. Whenever this Indenture provides for any action by, or any distribution to, Holders
of Securities denominated in Dollars and in any Foreign Currency, in the absence of any provision to the contrary established
as contemplated by Section 3.01 for the Securities of any particular series, any amount in respect of any Security denominated
in a Foreign Currency shall be treated for any such action or distribution as that amount of Dollars that could be obtained for
such amount on such reasonable basis of exchange and as of such date as the Company may specify in a Company Order.

 

ARTICLE
II

 

SECURITY FORMS

 

Section
2.01 Forms Generally. The Securities of each series shall be in substantially the forms as shall be established by or pursuant
to Board Resolution or one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions
and other variations as are required or permitted by this Indenture or any indenture supplemental hereto, and may have such letters,
numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with any
law or with any rules made pursuant thereto or with any rules of any securities exchange or as may, consistently herewith, be
determined by the officers executing such Securities, as evidenced by their execution of the Securities.

 

The definitive Securities of each series
shall be printed, lithographed or engraved or produced by any combination of these methods on steel engraved borders or may be
produced in any other manner, all as determined by the officers executing such Securities, as evidenced by their execution of such
Securities.

 

Section
2.02 Form of Certificate of Authentication. The Certificate of Authentication on all Securities shall be in substantially
the following form:

 

This is one of the Securities, of the series
designated herein, and referred to in the within-mentioned Indenture.

 

    	10

    	 

    
 

	 	
        U.S. Bank National Association,

        as Trustee
	 
	 	 	 	 	 
	 	By	 	
         
	 
	 	 	 	[Authorized Officer]	 
	 	 	 	 	 
	 	 	 	or	 

 

	 	By	 	
         
	 
	 	 	 	[As Authenticating Agent]	 
	 	 	 	 	 
	 	By	 	
         
	 
	 	 	 	[Authorized Officer]	 

 

Section 2.03
Securities in Global Form. If any Security of a series is issuable as a Global Security (in whole or in part), such
Global Security may provide that it shall represent the aggregate principal amount of Outstanding Securities of such series from
time to time represented thereby in the records of the Trustee or endorsed thereon and may also provide that the aggregate principal
amount of Outstanding Securities of such series represented thereby in the records of the Trustee or endorsed thereon may from
time to time be reduced or increased. Any change in the records of the Trustee or any endorsement of a Global Security to reflect
the aggregate principal amount, or any increase or decrease in the amount of Outstanding Securities represented thereby shall
be made by the Trustee in accordance with provisions established as contemplated by Section 3.01.

 

ARTICLE
III

 

THE SECURITIES

 

Section 3.01
Amount Unlimited; Issuable in Series. The aggregate principal amount of Securities which may be authenticated and delivered
under this Indenture is unlimited.

 

The Securities may be issued in one or more
series. There shall be established in or pursuant to a Board Resolution or one or more indentures supplemental hereto, prior to
the issuance of any Securities of any series:

 

(a)          
the title of the Securities of such series (which shall distinguish the Securities of such series from all other series
of Securities);

 

(b)         
any limit upon the aggregate principal amount of the Securities of such series which may be authenticated and delivered
under this Indenture (except for Securities authenticated and delivered pursuant to Section 3.05, 3.06, 3.07, 4.07, or 11.07 hereof);

 

(c)          
the date or dates, or the method by which such date or dates will be determined or extended, on which the principal of and
premium, if any, on the Securities of such series is payable;

 

(d)         
the Persons to whom interest on Securities of such series shall be payable, if other than the Persons in whose names such
Securities are registered at the close of business on the record date for such interest;

 

    	11

    	 

    
 

(e)          
the rate or rates, or the method to be used in determining the rate or rates, at which the Securities of such series shall
bear interest, if any, the date or dates from which such interest shall accrue or the method by which such date or dates shall
be determined, the Interest Payment Dates on which such interest shall be payable and, if other than as set forth in Section 3.08
hereof, the record date for the determination of Holders to whom such interest is payable, and the basis upon which Interest shall
be calculated if other than as set forth in Section 3.11;

 

(f)          
the circumstances, if any, in which principal, premium, if any, or interest on such debt security may be deferred;

 

(g)         
the place or places at which (i) the principal of and premium, if any, and interest, if any, on Securities of such series
shall be payable if other than as set forth in the third sentence of Section 12.02, (ii) registration of transfer of Securities
of such series may be effected, (iii) exchanges of Securities of such series may be effected and (iv) notice and demands to or
upon the Company in respect of the Securities of such series and this Indenture may be served; and if such is the case, that the
principal of such Securities shall be payable without the presentment or surrender thereof;

 

(h)         
any optional redemption or repayment provisions;

 

(i)           
the price or prices at which, the period or periods within which and the terms and conditions upon which Securities of such
series may be redeemed, in whole or in part, at the option of the Company, at the option of a Holder or otherwise;

 

(j)           
the obligation, if any, of the Company to redeem, purchase or repay Securities of such series pursuant to any sinking fund
or analogous provisions or at the option of a Holder thereof and the price or prices at which, the period or periods within which
and the terms and conditions upon which Securities of such series shall be redeemed, purchased or repaid, in whole or in part,
pursuant to such obligation;

 

(k)         
if other than Dollars, the Foreign Currency or Foreign Currencies in which payment of the principal of and premium, if any,
and interest, if any, on the Securities of such series shall be payable or in which such Securities will be denominated;

 

(l)           
if the principal of and premium, if any, or interest, if any, on the Securities of such series are to be payable, at the
election of the Company or a Holder thereof, in a coin or currency (including a composite currency) other than that in which such
Securities are stated to be payable, the period or periods within which, and the terms and conditions upon which, such election
may be made;

 

(m)       
if denominated or payable in any coin or currency, including composite currencies, other than Dollars, or if the terms of
the Securities provide that the principal amount thereof payable at maturity may be more or less than the principal face amount
thereof at original issuance, the method by which the Securities of such series shall be valued, which may be any reasonable method,
against the Securities of all other series for voting, the giving of any request, demand, authorization, direction, notice, consent
or waiver, distribution and all other purposes hereof and any provisions required for purposes of applying Sections 6.01 and 6.02
hereof;

 

    	12

    	 

    
 

(n)         
if the amount of payments of principal of and premium, if any, or interest, if any, on the Securities of such series may
be determined with reference to an index, the formula or other method (which may be based on one or more currencies (including
a composite currency), commodities, equity indices or other indices), and the manner in which such amounts shall be determined;

 

(o)         
if other than denominations of $1,000 and any integral multiple thereof, the denominations in which Securities of such series
shall be issuable;

 

(p)         
if other than the principal amount thereof, the portion of the principal amount of Securities of such series which shall
be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 7.02 hereof or the method by which such
portion shall be determined;

 

(q)         
any addition to, or modification or deletion of, any Event of Default or any covenant of the Company specified herein with
respect to the Securities of such series;

 

(r)           
if other than the rate of interest stated in the title of the Securities of such series, the applicable Overdue Rate;

 

(s)          
if the Securities of such series do not bear interest, the applicable dates for purposes of Section 9.01 hereof,

 

(t)           
the inapplicability to the Securities of such series of Section 6.02 relating to satisfaction, discharge and defeasance
of Securities or, if applicable, any modification to Section 6.02 with respect to the Securities of such series;

 

(u)         
if other than U.S. Bank National Association is to act as Trustee for the Securities of such series, the name and Corporate
Trust Office of such Trustee;

 

(v)         
whether the Securities of such series shall be issued in whole or in part in the form of a Global Security or Securities
and, in such case the terms and conditions, if any, upon which such Global Security or Securities may be exchanged in whole or
in part for other definitive Securities, the Depositary for such Global Security or Securities (which shall be a clearing agency
registered under the Exchange Act, or any other applicable statute or regulation, to the extent required thereunder), whether such
Global Security shall be permanent or temporary, any limitations on the rights of the Holder or Holders to transfer or exchange
the same or to obtain the registration of transfer thereof in addition to or in lieu of those set forth in Section 3.05, any limitations
on the rights of the Holder or Holders thereof to obtain certificates in definitive form, and, the provisions for determining the
aggregate principal amount of Outstanding Securities from time to time represented thereby and any and all matters incidental to
such Global Security or Securities;

 

(w)       
if the Securities of such series may be converted into or exchanged for other securities of the Company or any other Persons,
the terms and conditions pursuant to which the Securities of such series may be converted or exchanged;

 

(x)         
if the principal of or premium, if any, or interest, if any, on the Securities of such series are to be payable, at the
election of the Company or a Holder thereof, in securities or other property, the type and amount of such securities or other property,
or the method by which such amount shall be determined, and the periods within which, and the terms and conditions upon which,
any such election may be made;

 

    	13

    	 

    
 

(y)         
if the Securities of any such series are to be issued as certificated debt securities in bearer form, to be issued outside
the United States to non-U.S. persons, and, any and all matters incidental thereto;

 

(z)          
if the Securities of such series are to be issued upon the exercise of a warrant or right, the time, manner and place for
such Securities to be authenticated and delivered; and

 

(aa)      
any other terms of the Securities of such series (which terms shall conform to any applicable requirements of the TIA, and
shall not materially adversely affect the rights of the Holders of Securities of such series then outstanding).

 

All Securities of any one series shall be
substantially identical except as to principal amount and except as may otherwise be established as contemplated by this Section
3.01.

 

Section 3.02 Denominations. Unless
otherwise established as contemplated by Section 3.01, the Securities of each series shall be issuable only in registered form
without coupons in such denominations as shall be established as contemplated by Section 3.01 or in the absence thereof, in denominations
of $1,000 and any integral multiple thereof.

 

Section 3.03 Authentication and Dating.
At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any
series executed by the Company to the Trustee for authentication. Except as otherwise provided in this Article, the Trustee shall
thereupon authenticate and deliver, or cause to be authenticated and delivered, said Securities pursuant to a Company Order, which
shall specify the principal amount, registered holder and delivery instructions for each such Security. In authenticating (or
causing authentication of) such Securities, and accepting the additional responsibilities under this Indenture in relation to
such Securities, the Trustee shall be entitled to receive, prior to the authentication of such Securities, and (subject to Sections
8.01 and 8.03 hereof) shall be fully protected in relying upon:

 

(a)          
a Board Resolution relating thereto and, if applicable, an appropriate record of any action taken pursuant to such resolution,
in each case certified by the Secretary or an Assistant Secretary of the Company;

 

(b)         
an executed supplemental indenture, if any, relating thereto;

 

(c)          
an Officer's Certificate setting forth the form and terms of the Securities of such series as established as contemplated
by Sections 2.01 and 3.01 hereof (to the extent not set forth in the documents delivered pursuant to Subsection 3.03(a) or 3.03(b))
and stating that all conditions precedent provided for in this Indenture relating to the issuance of such Securities have been
complied with, that no Event of Default with respect to the Securities of any Series has occurred and is continuing and that the
issuance of such Securities is not and will not result in (i) an Event of Default or an event or condition which, upon the giving
of notice or the lapse of time or both, would become an Event of Default or (ii) a default under the provisions of any other instrument
or agreement by which the Company is bound; and

 

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(d)         
an Opinion of Counsel stating that the form and terms of such Securities have been established as contemplated by Sections
2.01 and 3.01 in conformity with the provisions of this Indenture.

 

The Trustee shall have the right to decline
to authenticate and deliver, or cause to be authenticated and delivered, any Securities under this Section 3.03 if the Trustee,
being advised by counsel, determines that such action may not lawfully be taken or if the Trustee in good faith shall determine
that such action would expose the Trustee to personal liability to existing Holders or would otherwise adversely affect its rights,
duties, obligations or immunities hereunder.

 

Unless otherwise provided in the form of
Securities of any particular series, each Security shall be dated the date of its authentication.

 

Section 3.04 Execution of
Securities. The Securities shall be signed in the name and on behalf of the Company by the manual or facsimile signatures
of its Chairman of the Board, Chief Executive Officer, its President, any one of its Senior Executive Vice Presidents, any
one of its Executive Vice Presidents, any one of its Senior Vice Presidents or any one of its Vice Presidents, under its
corporate seal (which may be printed, engraved or otherwise reproduced thereon, by facsimile or otherwise) and attested to by
its Secretary or any one of its Assistant Secretaries, whose signatures may be manual or facsimile. Only such Securities as
shall bear thereon a certificate of authentication substantially in the form hereinbefore recited, executed by or on behalf
of the Trustee by manual signature, shall be entitled to the benefits of this Indenture or be valid or obligatory for any
purpose. Such certificate by or on behalf of the Trustee upon any Security executed by the Company shall be conclusive
evidence that the Security 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 of the Company who shall
have signed any of the Securities shall cease to be such officer before the Securities so signed shall have been authenticated
and delivered by or on behalf of the Trustee, or disposed of by the Company, such Securities nevertheless may be authenticated
and delivered or disposed of as though the person who signed such Securities had not ceased to be such officer of the Company;
and any Security may be signed on behalf of the Company by such persons as, at the actual date of the execution of such Security,
shall be the proper officers of the Company, although at the date of the execution of this Indenture any such person was not such
an officer.

 

Section 3.05 Exchange and Registration
of Transfer of Securities. Securities of any series (except for Global Securities, which may only be exchanged in limited
circumstances described below) may be exchanged for a like aggregate principal amount of Securities of the same series of other
authorized denominations. Unless otherwise established as contemplated by Section 3.01, Securities to be exchanged shall be surrendered
at any of the offices or agencies of the Company maintained as provided in Section 12.02 hereof for such purpose, and the Company
shall execute and register, or cause to be registered, and the Trustee shall authenticate and deliver, or cause to be authenticated
and delivered, in exchange therefor the Security or Securities which the Holder making such exchange shall be entitled to receive.

 

Unless otherwise established as contemplated
by Section 3.01, the Company shall keep at the office or agency in the same city in which the Corporate Trust Office of the Trustee
is located, a register for the Securities of each series issued hereunder (the register maintained at such office or agency and
at any other office or agency of the Company in a Place of Payment being herein collectively referred to as the "Securities
Register") in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for
the registration of Securities of such series and registration of transfer of such Securities as provided in this Article. Such
Securities Register shall be in written form or in any other form capable of being converted into written form within a reasonable
time. The Trustee is hereby initially appointed "Securities Registrar" for the purpose of registering Securities
and registering transfers of Securities as herein provided. Upon due presentment for registration of transfer of any Security of
any series at any of the offices or agencies of the Company maintained as provided in Section 12.02 hereof for such purpose, the
Company shall execute and register, or cause to be registered, and the Trustee shall authenticate and deliver, or cause to be authenticated
and delivered, in the name of the transferee or transferees, a new Security or Securities of the same series in authorized denominations
for an equal aggregate principal amount.

 

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Every Security issued upon registration
of transfer or exchange of Securities pursuant to this Section 3.05 shall be the valid obligation of the Company, evidencing the
same debt, and entitled to the same benefits under this Indenture, as the Security or Securities surrendered upon registration
of such transfer or exchange.

 

All Securities presented for registration
of transfer or for exchange, redemption or payment shall (if so required by the Company, the Trustee or the Securities Registrar)
be duly endorsed by, or be accompanied by, a written instrument or instruments of transfer in form satisfactory to the Company,
the Trustee and the Securities Registrar duly executed by the Holder thereof or his attorney duly authorized in writing.

 

No service charge shall be made for any
registration of transfer or exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other
than exchanges pursuant to Section 3.07, 4.07 or 11.07 hereof not involving any transfer.

 

The Company shall not be required (a) to
issue, register the transfer of or exchange any Security of any series during a period beginning at the opening of business 15
days before the day of the mailing of a notice of redemption of Securities of such series and ending at the close of business on
the day of such mailing or (b) to register the transfer of or exchange any Security selected for redemption in whole or in part,
except, in the case of any Security to be redeemed in part, the portion thereof not to be redeemed.

 

Each Global Security authenticated under
this Indenture shall be registered in the name of the Depositary designated for such Global Security or a nominee thereof and delivered
to such Depositary or a custodian therefor, and each such Global Security shall constitute a single Security for all purposes of
this Indenture. Notwithstanding the foregoing and except as otherwise specified as contemplated by Section 3.01, no Global Security
shall be registered for transfer or exchange, or authenticated or delivered, pursuant to this Section 3.05 or Sections 3.06, 3.07,
4.07 or 11.07 in the name of a Person other than the Depositary for such Security or its nominee until (i) the Depositary with
respect to a Global Security notifies the Company in writing that it is unwilling or unable to continue as Depositary for such
Global Security or the Depositary ceases to be a clearing agency registered under the Exchange Act or other applicable statute
or regulation if required thereunder, and the Company notifies the Trustee that it is unable to locate a qualified successor Depositary,
(ii) the Company executes and delivers to the Trustee a Company Order that such Global Security shall be so transferable and exchangeable
or (iii) there shall have occurred and be continuing an Event of Default with respect to the Securities of such Series. Upon the
occurrence in respect of any Global Security of any series of any one or more of the conditions specified in clauses (i), (ii)
or (iii) of the preceding sentence or such other conditions as may be specified as contemplated by Section 3.01 for such series,
such Global Security may be registered for transfer or exchange for Securities registered in the names of, or authenticated and
delivered to, such Persons as the Depositary with respect to such series shall instruct the Trustee in writing. The Trustee, upon
receipt of such instruction, will authenticate and deliver Securities of such series of like tenor and terms in definitive form
in an aggregate principal amount equal to the principal amount of the Global Security or Securities representing such series in
exchange for such Global Security or Securities.

 

    	16

    	 

    
 

Except as provided in the preceding paragraph,
any Security authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, any Global Security
or any portion thereof, whether pursuant to this Section 3.05, Section 3.06, 3.07, 4.07 or 11.07 or otherwise, shall also be a
Global Security. Notwithstanding any other provision of this Indenture, a Global Security may not be transferred except as a whole
by the Depositary for such Global Security to a nominee of such Depositary or to another Depositary or a nominee thereof or by
a nominee of such Depositary to such Depositary or another nominee of such Depositary or to another Depositary or a nominee thereof.

 

Upon such terms established as contemplated
by Section 3.01 with respect to the Securities of any series, the Depositary for the Securities of such series may surrender a
Global Security for such series in exchange in whole or in part for Securities of such series of like tenor and terms and in definitive
form. Thereupon the Company shall execute, and the Trustee upon receipt of a Company Order shall authenticate and deliver, without
service charge, (i) to the Depositary or to each Person specified by such Depositary a new Security or Securities of the same series,
of like tenor and terms in definitive form and of any authorized denomination as requested by such Person in aggregate principal
amount equal to and in exchange for such Person's beneficial interest in the Global Security, and (ii) to such Depositary a new
Global Security of like tenor and terms and in a principal amount equal to the difference, if any, between the principal amount
of the surrendered Global Security and the aggregate principal amount of Securities delivered pursuant to clause (i).

 

Upon the exchange of a Global Security for
Securities in definitive form, such Global Security shall be cancelled by the Trustee. Definitive Securities issued in exchange
for a Global Security pursuant to this Section shall either be in global form, established as contemplated by Sections 2.01 and
3.01, or shall be registered in such names and in such authorized denominations and delivered to the Depositary or to such Persons
at such addresses as the Depositary for such Global Security, pursuant to instructions from its direct or indirect participants
or otherwise, shall instruct the Trustee in writing.

 

Section 3.06 Mutilated, Destroyed, Lost
or Stolen Securities. In case any temporary or definitive Security of any series shall become mutilated or be destroyed, lost
or stolen, and in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser,
the Company in the case of a mutilated Security shall, and in the case of a lost, stolen or destroyed Security may in its discretion,
execute, and upon a Company Request the Trustee shall authenticate and deliver, or cause to be authenticated and delivered, a
new Security of the same series bearing a number, letter or other distinguishing symbol not contemporaneously outstanding, in
exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or
stolen, or if any such Security shall have become due and payable or shall be about to become due and payable, instead of issuing
a substituted Security, the Company may pay or authorize the payment of the same without surrender thereof (except in the case
of a mutilated Security). In every case the applicant for a substituted Security shall furnish to the Company and to the Trustee
such security or indemnity as may be required by them to render each of them harmless, and, in every case of destruction, loss
or theft, the applicant shall also furnish to the Company and to the Trustee evidence to their satisfaction of the destruction,
loss or theft of such Security and of the ownership thereof.

 

    	17

    	 

    
 

Upon the issuance of any substituted Security
under this Section 3.06, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge
that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee and any Authenticating
Agent) connected therewith.

 

Every substituted Security of any series
issued pursuant to the provisions of this Section 3.06 by virtue of the fact that any Security of such series is destroyed, lost
or stolen shall constitute an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security
shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately
with any and all other Securities of that series duly issued hereunder. All Securities shall be held and owned upon the express
condition that the foregoing provisions of this Section 3.06 are exclusive with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities and shall preclude (to the extent lawful) any and all other rights or remedies with respect
to the replacement or payment of negotiable instruments or other securities without their surrender.

 

Section 3.07 Temporary Securities.
Pending the preparation of definitive Securities of any series the Company may execute and the Trustee shall authenticate and
deliver, or cause to be authenticated and delivered, temporary Securities of such series (printed, lithographed, typewritten,
mimeographed or otherwise produced). Temporary Securities shall be issuable in any authorized denomination and substantially in
the form of the definitive Securities in lieu of which they are issued but with such omissions, insertions and variations as may
be appropriate for temporary Securities, all as may be determined by the Company with the concurrence of the Trustee. Every such
temporary Security shall be executed by the Company and shall be authenticated by or on behalf of the Trustee upon the same conditions
and in substantially the same manner, and with the same effect, as the definitive Securities in lieu of which they are issued.
Without unreasonable delay the Company will execute and deliver to the Trustee definitive Securities of such series and thereupon
any or all temporary Securities of such series may be surrendered in exchange therefor, at any of the offices or agencies of the
Company maintained as provided in Section 12.02 hereof for such purpose, and the Trustee shall authenticate and deliver, or cause
to be authenticated and delivered, in exchange for such temporary Securities an equal aggregate principal amount of definitive
Securities of such series. Such exchange shall be made by the Company at its own expense and without any charge therefor except
that in case of any such exchange involving any registration of transfer the Company may require payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in relation thereto. Until so exchanged, the temporary Securities
of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series
authenticated and delivered hereunder. Notwithstanding the foregoing provisions of this Section 3.07, Global Securities may remain
in temporary form and, unless otherwise established as contemplated by Section 3.01, shall not be exchangeable for definitive
Global Securities.

 

Section 3.08 Payment of Interest;
Interest Rights Preserved. The Holder at the close of business on any record date with respect to any Interest Payment
Date shall be entitled to receive the interest, if any, payable on such Interest Payment Date notwithstanding the
cancellation of such Securities upon any transfer or exchange subsequent to the record date and prior to such Interest
Payment Date. Except as otherwise established as contemplated by Section 3.01 for Securities of a particular series, the term
"record date" as used in this Section 3.08 with respect to any Interest Payment Date, shall mean the last day of
the calendar month preceding such Interest Payment Date if such Interest Payment Date is the fifteenth day of the calendar
month, and shall mean the fifteenth day of the calendar month preceding such Interest Payment Date if such Interest Payment
Date is the first day of the calendar month, whether or not such day shall be a Business Day.

 

    	18

    	 

    
 

If and to the extent the Company shall default
in the payment of the interest due on such Interest Payment Date, such defaulted interest (herein called "Defaulted
Interest") shall forthwith cease to be payable to the registered Holder on such record date by virtue of having
been such Holder; and such Defaulted Interest shall be paid by the Company, at its election in each case, as provided in clause
(a) or (b) below:

 

(a)          
The Company may make payment of any Defaulted Interest to the Holders entitled thereto at the close of business on a subsequent
record date established in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest
proposed to be paid on each applicable Security and the date of the proposed payment, and at the same time the Company shall deposit
with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or
shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Holders entitled to such Defaulted Interest as in this clause (a) provided.
Thereupon the Trustee shall fix a record date for the payment of such Defaulted Interest which shall not be more than 15 days and
not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the
notice of the proposed payment. The Trustee shall promptly notify the Company of such 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 record date therefor to be mailed,
first-class postage prepaid, to each Holder entitled thereto at the address of such Holder as it appears on the Securities Register,
not less than 10 days prior to such record date. Notice of the proposed payment of such Defaulted Interest and the record date
therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Holders of applicable Securities at the
close of business on such record date (notwithstanding the cancellation of such Securities upon any transfer or exchange subsequent
to such record date and prior to such payment) and shall no longer be payable pursuant to the following clause (b).

 

(b)         
The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent
with the requirements of any securities exchange on which the Securities of such series may be listed, and upon such notice as
may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this
clause (b), such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section
3.08, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other
Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.

 

Section 3.09 Persons Deemed Owners.
Prior to the due presentment for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name any Security is registered as the owner of such Security for the purpose of receiving payment
of principal of and premium, if any and (subject to Section 3.08 hereof) interest, if any, on such Security and for all other
purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company
or the Trustee shall be affected by notice to the contrary.

 

    	19

    	 

    
 

None of the Company, the Trustee, any Paying
Agent or the Securities Registrar shall have any responsibility or liability for any aspect of the records relating to or payments
made on account of beneficial ownership interests in a Global Security or for maintaining, supervising or reviewing any records
relating to such beneficial ownership interests and they shall be protected in acting or refraining from acting on any such information
provided by the Depositary.

 

Section 3.10 Cancellation. All Securities
surrendered for the purpose of payment, redemption, exchange, or registration of transfer or for credit against any sinking fund
shall, if surrendered to the Company or any Paying Agent or any Securities Registrar, be surrendered to the Trustee and promptly
cancelled by the Trustee, or, if surrendered to the Trustee, shall be promptly cancelled by Trustee, and no Securities shall be
issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall destroy cancelled
Securities and deliver a certificate of such destruction to the Company unless, by a Company Order, the Company directs that such
cancelled Securities be returned to it. If the Company shall acquire any of the Securities, however, such acquisition shall not
operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered
to the Trustee for cancellation.

 

Section 3.11 Computation of Interest.
Except as otherwise established as contemplated by Section 3.01 hereof for Securities of any series, interest on the Securities
shall be computed on the basis of a 360-day year of twelve 30-day months.

 

ARTICLE
IV

REDEMPTION OF SECURITIES

 

Section 4.01 Applicability of Article.
The provisions of this Article shall be applicable to all Securities which are redeemable before their Stated Maturity except
as otherwise established as contemplated by Section 3.01 hereof for Securities of any series.

 

Section 4.02 Election to Redeem; Notice
to Trustee. The election of the Company to redeem any Securities of any series shall be evidenced by or pursuant to a Board
Resolution. In case of any redemption at the election of the Company of less than all of the Securities of a series, the Company
shall, at least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the
Trustee) deliver to the Trustee an Officer's Certificate setting forth such Redemption Date and the principal amount of Securities
of such series to be redeemed and stating that no default in payment of interest or Event of Default has occurred and is continuing
with respect to the Securities of such series.

 

Section 4.03 Selection by Trustee of Securities
to Be Redeemed. If less than all the Securities of any series are to be redeemed, the particular Securities of such series
to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities
of such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate (which is in
compliance with the requirements of any national securities exchange on which such Securities are listed) and which may provide
for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of such series or any
integral multiple thereof) of the principal of Securities of a denomination greater than the minimum authorized denomination for
Securities of such series.

 

    	20

    	 

    
 

The Trustee shall promptly notify the Company
in writing of the Securities selected for redemption and, in the case of any Security selected for partial redemption, the principal
amount thereof to be redeemed.

 

For all purposes of this Indenture, unless
the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Security
redeemed or to be redeemed only in part, to the portion of the principal amount of such Security which has been or is to be redeemed,
whether or not such provisions so provide.

 

Section 4.04 Notice of Redemption.
Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days prior
to the Redemption Date, to each Holder of Securities to be redeemed, at the address of such Holder as it appears in the Securities
Register. Neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect
the sufficiency of such notice with respect to other Holders.

 

All notices of redemption shall state:

 

(a)          
the Redemption Date,

 

(b)         
the Redemption Price, and accrued interest, if any,

 

(c)          
if less than all Outstanding Securities of any series are to be redeemed, the identification (and, in the case of partial
redemption, the respective principal amounts) of the Securities of such series to be redeemed,

 

(d)         
that on the Redemption Date the Redemption Price, together with accrued interest, if any, to the Redemption Date, will become
due and payable upon each such Security, and that interest thereon shall cease to accrue from and after said date,

 

(e)          
the place where such Securities are to be surrendered for payment of the Redemption Price, and accrued interest, if any,
and

 

(f)          
that the redemption is for a sinking fund, if that be the case.

 

Notice of redemption of the Securities to
be redeemed at the election of the Company shall be given by the Company or, at the Company's request made at least 35 days prior
to the redemption date, by the Trustee in the name and at the expense of the Company upon Trustee's receipt from the Company of
the form of such notice containing the information required under Section 4.04 above.

 

Section 4.05 Deposit of Redemption Price.
On or before any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting
as its own Paying Agent, segregate and hold in trust as provided in Section 12.03 hereof) an amount of money sufficient to pay
the Redemption Price of, and accrued interest, if any, on, all the Securities or portions thereof which are to be redeemed on
that date.

 

Section 4.06 Securities Payable on Redemption
Date. Notice of redemption having been given as aforesaid, the Securities or portions thereof so to be redeemed shall, on
the Redemption Date, become due and payable at the Redemption Price thereof together with accrued interest, if any, thereon to
the Redemption Date, and from and after such date (unless the Company shall default in the payment of the Redemption Price and
such accrued interest, if any) such Securities or portions thereof shall cease to bear interest. Upon surrender of such Securities
for redemption in accordance with said notice such Securities or specified portions thereof shall be paid by the Company at the
Redemption Price, together with any accrued interest to the Redemption Date. Installments of interest whose Stated Maturity is
on or prior to the Redemption Date shall be payable to the Holders of such Securities registered as such on the relevant record
dates according to their terms and the provisions of Section 3.08 hereof.

 

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If any Security called for redemption shall
not be so paid upon surrender thereof on such Redemption Date, the principal and premium, if any, shall, until paid, bear interest
from the Redemption Date at the rate borne by the Security.

 

Section 4.07 Securities Redeemed in Part.
Security of any series which is to be redeemed only in part shall be surrendered at the Place of Payment (with, if the Company
or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the
Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing) and the Company shall execute and the
Trustee shall authenticate and deliver, or cause to be authenticated and delivered, to the Holder of such Security without service
charge, a new Security or Securities of the same series of any authorized denomination as requested by such Holder in aggregate
principal amount equal to and in exchange for the unredeemed portion of the principal amount of the Security so surrendered.

 

ARTICLE
V

SINKING FUNDS

 

Section 5.01 Applicability of Article.
The provisions of this Article shall be applicable to any sinking fund for the retirement of Securities except as otherwise established
as contemplated by Section 3.01 for Securities of any series.

 

The minimum amount of any sinking fund payment
established as contemplated by Section 3.01 for Securities of any series is herein referred to as a "mandatory sinking fund
payment," and any permitted payment in excess of such minimum amount established as contemplated by Section 3.01 for Securities
of any series is herein referred to as an "optional sinking fund payment."

 

Section 5.02 Satisfaction of Mandatory
Sinking Fund Payments with Securities. In lieu of making all or any part of any mandatory sinking fund payment with respect
to any Securities of a series in cash, the Company may at its option (a) deliver to the Trustee Securities of that series theretofore
purchased or otherwise acquired by the Company, or (b) receive credit for the principal amount of Securities of that series which
have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of
permitted optional sinking fund payments pursuant to the terms of such Securities; provided that such Securities
have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption
Price specified in such Securities for redemption through operation of the sinking fund and the amount of such mandatory sinking
fund payment shall be reduced accordingly.

 

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Section 5.03 Redemption of Securities
for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for the Securities of any series, the Company
will deliver to the Trustee a certificate signed by the Treasurer or any Assistant Treasurer of the Company specifying the amount
of such next ensuing mandatory sinking fund payment, the portion thereof, if any, which is to be satisfied by payment of cash
and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities of such series pursuant to Section
5.02 (which Securities will accompany such certificate) and whether the Company intends to make any permitted optional sinking
fund payment in connection therewith. Such certificate shall also state that no Event of Default has occurred and is continuing
with respect to Securities of such series. Such certificate shall be irrevocable and upon its delivery the Company shall be obligated
to make the cash payment or payments therein referred to, if any, on or before the next succeeding sinking fund payment date.
In the case of the failure of the Company to deliver such certificate when due (or to deliver the Securities specified in this
Section 5.03) the sinking fund payment due on the next succeeding sinking fund payment date for Securities of that series shall
be paid entirely in cash and shall be sufficient to redeem the principal amount of such Securities subject to a mandatory sinking
fund payment without the option to deliver or credit Securities as provided in Section 5.02 and without the right to make any
optional sinking fund payment, in connection therewith.

 

Any sinking fund payment or payments (mandatory
or optional) with respect to the Securities of any particular series made in cash plus any unused balance of any preceding sinking
fund payments with respect to Securities of such series made in cash which shall equal or exceed $100,000 or the equivalent thereof
in the Foreign Currency in which such series is denominated (or a lesser sum if the Company shall so request) shall be applied
by the Trustee on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund
payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Securities at the
Redemption Price specified in such Securities for operation of the sinking fund together with accrued interest, if any, to the
date fixed for redemption. Any sinking fund moneys not so applied or allocated by the Trustee to the redemption of such Securities
shall be added to the next cash sinking fund payment received by the Trustee for Securities of such series and, together with such
payment, shall be applied in accordance with the provisions of this Section 5.03. Any and all sinking fund moneys with respect
to the Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Securities
of such series and not held for the payment or redemption of particular Securities shall be applied by the Trustee, together with
other moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Securities of such
series at Maturity.

 

The Trustee shall select the Securities
to be redeemed upon such sinking fund payment date in the manner specified in the first paragraph of Section 4.03 hereof and the
Company shall cause notice of the redemption thereof to be given in the manner provided in Section 4.04 hereof. Such notice having
been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 4.06 and 4.07
hereof.

 

On or before any sinking fund payment date,
the Company shall deposit with the Trustee an amount of money sufficient to pay any interest accrued to the Redemption Date for
Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 5.03.

 

The Trustee shall not redeem any Securities
of any series with sinking fund moneys or mail any notice of redemption of Securities of such series by operation of the sinking
fund therefor during the continuance of a default in payment of interest on Securities of such series or of any Event of Default
(other than an Event of Default occurring as a consequence of this paragraph) with respect to Securities of such series, except
that if the notice of redemption of any Securities of such series shall theretofore have been mailed in accordance with the provisions
hereof, the Trustee shall redeem such Securities if cash sufficient for that purpose shall be deposited with the Trustee for that
purpose in accordance with the terms of this Article. Except as aforesaid, any moneys in the sinking fund for Securities of such
series at the time when any such default or Event of Default shall occur and any moneys thereafter paid into such sinking fund
shall, during the continuance of such default or Event of Default, be held as security for the payment of such Securities; provided,
however, that in case such Event of Default or default shall have been cured or waived as, provided herein, such moneys
shall thereafter be applied on the next sinking fund payment date for such Securities on which such moneys may be applied pursuant
to the provisions of this Section 5.03.

 

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ARTICLE
VI

SATISFACTION AND DISCHARGE

 

Section 6.01 Satisfaction and Discharge
of Indenture. This Indenture shall cease to be of further effect with respect to the Securities of any series (except as to
the rights of Holders of Outstanding Securities of such series to receive, from the trust funds described in paragraph (a) of
this Section 6.01, payment of the principal of, premium, if any, and interest, if any, on such Outstanding Securities on the Stated
Maturity of such principal, premium, if any, or installment of interest, if any, the Company's obligations with respect to such
Outstanding Securities of such series under Sections 3.05, 3.06, 6.05 and 12.02 as may be applicable to Outstanding Securities
of such series, and the rights, powers, trusts, duties, indemnities and immunities of the Trustee hereunder), and the Trustee
for the Securities of such series, on demand of and at the expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture with respect to the Securities of such series, when

 

(a)          
either

 

		 	(i)      all
the Securities of such series theretofore authenticated and delivered (other than (A) Securities of such series which have been
destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.06 hereof and (B) Securities of such series
for whose payment money has theretofore been deposited with the Trustee or the Paying Agent for the Securities of such series in
trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided
in Section 6.05 hereof) have been delivered to such Trustee for cancellation; or

 

		 	(ii)      all
Securities of such series not theretofore delivered to such Trustee for cancellation

 

(A)      
have become due and payable, or

 

(B)       
will become due and payable at their Stated Maturity within one year, or

 

(C)       
are to be called for redemption within one year under arrangements satisfactory to such Trustee for the giving of notice
of redemption by such Trustee in the name, and at the expense, of the Company,

 

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  and the Company has deposited
or caused to be deposited with such Trustee irrevocably as trust funds in trust, specifically pledged as security for, and dedicated
solely to, the benefit of the Holders of all Outstanding Securities of such series, with reference to this Section 6.01, (i) money
in an amount in the currency in which the Securities of such series are denominated or (ii) U.S. Government Obligations in the
case of Securities denominated in Dollars or obligations issued or guaranteed by the government which issued the currency in which
the Securities of such series are denominated in the case of Securities denominated in Foreign Currencies, which through the payment
of interest and principal in respect thereof in accordance with their terms will provide, not later than the opening of business
on the due date of any payment referred to below, money in an amount in the currency in which the Securities of such series are
denominated, or (iii) a combination thereof, sufficient, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay and discharge the entire indebtedness on all Outstanding
Securities of such series not theretofore delivered to such Trustee for cancellation, for principal (and premium, if any) and interest,
if any, to the date of such deposit (in the case of Securities of such series which have become due and payable), or to the Stated
Maturity or Redemption Date, as the case may be;

 

(b)         
the Company has paid or caused to be paid all other sums payable hereunder by the Company in connection with Outstanding
Securities of such series, including all fees and expenses of the Trustee for such series; and

 

(c)          
the Company has delivered to such Trustee an Officer's 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 with respect to the Securities of any series, the obligations of the Company with respect to Securities of any
other series and to the Trustee for the Securities of such series under Section 8.07 hereof shall survive.

 

Section 6.02 Satisfaction, Discharge and
Defeasance of Securities of any Series. Unless otherwise established, as contemplated by Section 3.01, with respect to Securities
of any series, the Company shall, notwithstanding Section 6.01, be deemed to have paid and discharged the entire indebtedness
on all the Outstanding Securities of any such series from and after the ninety-first day after the date of the deposit referred
to in paragraph (a) below, the provisions of this Indenture (except as to the rights of Holders of Outstanding Securities of such
series to receive, from the trust funds described in paragraph (a) below, payment of the principal of, premium, if any, and interest,
if any, on such Outstanding Securities on the Stated Maturity of such principal, premium, if any, or installment of interest,
if any, the Company's obligations with respect to such Outstanding Securities of such series under Sections 3.05, 3.06, 6.05 and
12.02 as may be applicable to Outstanding Securities of such series, and the rights, powers, trusts, duties, indemnities and immunities
of the Trustee hereunder) shall no longer be in effect in respect of Outstanding Securities of such series, and the Trustee, at
the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of such indebtedness; provided
that the following conditions shall have been satisfied:

 

(a)          
the Company has deposited or caused to be deposited with the Trustee irrevocably as trust funds in trust, specifically pledged
as security for, and dedicated solely to, the benefit of the Holders of all Outstanding Securities of such series, with reference
to this Section 6.02, (i) money in an amount in the currency in which the Securities of such series are denominated or (ii) U.S.
Government Obligations in the case of Securities denominated in Dollars or obligations issued or guaranteed by the government which
issued the currency in which the Securities are denominated in the case of Securities denominated in Foreign Currencies, which
through the payment of interest and principal in respect thereof in accordance with their terms will provide, not later than the
opening of business on the due date of any payment referred to in this paragraph (a), money in an amount in the currency in which
the Securities of such series are denominated, or (iii) a combination thereof, sufficient, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge
the entire indebtedness on all Outstanding Securities of such series for principal, premium, if any, and interest, if any, to the
Stated Maturity as such principal, premium, if any, or interest, if any, becomes due and payable in accordance with the term of
this Indenture and the Securities of such series;

 

    	25

    	 

    
 

(b)         
the Company has paid or caused to be paid all other sums payable hereunder by the Company in connection with the Outstanding
Securities of such series, including all fees and expenses of the Trustee for such series; and

 

(c)          
the Company has delivered to the Trustee an Officer's Certificate and an Opinion of Counsel, each stating that all conditions
precedent herein provided for relating to the satisfaction and discharge of the entire indebtedness on all Outstanding Securities
of such series have been complied with.

 

Section 6.03 Application of Trust
Money. (a) Subject to the provisions of Section 6.05, all money, U.S. Government Obligations and other government
obligations deposited with the Trustee for the Securities of any series pursuant to Section 6.01 or 6.02, and all money
received by the Trustee in respect of U.S. Government Obligations and such other government obligations deposited with the
Trustee for the Securities of any series pursuant to Section 6.01 or 6.02 shall be held in trust and applied by it, in
accordance with the provisions of the Securities of such series and this Indenture, to the payment, either directly or
through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons
entitled thereto, of the principal of, premium, if any, and interest, if any, on the Securities of such series; but such
money need not be segregated from other funds except to the extent required by law and the Trustee shall have no liability to
pay interest thereon or for the investment thereof.

 

(b)         
The Trustee shall deliver or pay to the Company from time to time upon Company request any U.S. Government Obligations,
other government obligations or money held by it as provided in Sections 6.01 and 6.02 which, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are then in excess
of the amount thereof which then would have been required to be deposited for the purpose for which such U.S. Government Obligations,
other government obligations or money were deposited or received.

 

Section 6.04 Paying Agent to Repay Moneys
Held. Upon the satisfaction and discharge of this Indenture all moneys then held by any Paying Agent under the provisions
of this Indenture shall, upon demand of the Company, be repaid to it or paid to the appropriate Trustee, and thereupon such Paying
Agent shall be released from all further liability with respect to such moneys.

 

Section 6.05 Return of Unclaimed Moneys.
Any moneys deposited with or paid to the Trustee or any Paying Agent for the Securities of any series pursuant to this Article,
or then held by the Company, in trust for the payment of the principal of and premium, if any, or interest, if any, on Securities
of such series and not applied but remaining unclaimed by the Holders of Securities of such series for two years after the date
upon which the principal of and premium, if any, or interest, if any, on such Securities, as the case may be, shall have become
due and payable, shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property
law, be repaid to the Company by such Trustee or any Paying Agent on demand or (if then held by the Company) shall be discharged
from such trust; and the Holder of any such Securities entitled to receive such payment shall thereafter look only to the Company
for the payment thereof; provided, however, that, before being required to make any such repayment, such Trustee
may (at the expense of the Company) cause to be published once a week for two successive weeks, in each case on any day of the
week, in an Authorized Newspaper in the same city in which the Place of Payment with respect to Securities of such series shall
be located and in an Authorized Newspaper in the Borough of Manhattan, the City of New York, a notice (in such form as may be
deemed appropriate by such Trustee) that said moneys remain unclaimed and that, after a date named therein, any unclaimed balance
of said moneys then remaining will be returned to the Company.

 

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ARTICLE
VII

REMEDIES

 

Section 7.01 Events of Default.
"Event of Default" whenever used herein with respect to Securities of any series means any one of the following
events and such other events as may be established with respect to the Securities of such series as contemplated by Section
3.01 hereof, continued for the period of time, if any, and after the giving of notice, if any, designated herein or therein,
as the case may be, unless the same is either not applicable to the Securities of such series or is deleted or modified in
the terms of the Securities of such series established as contemplated by Section 3.01 hereof:

 

(a)          
default in the payment of any interest upon any Security of such series when the same becomes due and payable, and continuance
of such default for a period of 30 days provided, however, that a valid extension of an interest payment period by
the Company in accordance with the terms of any indenture supplemental hereto, shall not constitute a default in the payment of
interest for this purpose; or

 

(b)         
default in the payment of all or any part of the principal of (or premium, if any, on) any Security of such series at its
Maturity; or

 

(c)          
default in the making or satisfaction of any sinking fund payment or analogous obligation when the same becomes due and
payable by the terms of the Securities of such series; or

 

(d)         
default in the performance, or breach, of any covenant or warranty of the Company in respect of the Securities of such series
contained in this Indenture or in such Securities (other than a covenant or warranty in respect of the Securities of such series
a default in whose performance or whose breach is elsewhere in this Section 7.01 specifically dealt with) or established as contemplated
by Section 3.01 hereof for the Securities of such series, and continuance of such default or breach for a period of 90 days after
there has been given, by registered or certified mail, to the Company by the Trustee for the Securities of such series, or to the
Company and such Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of such series, a written
notice specifying such default or breach and requiring it to be remedied and stating that such notice is a "Notice of Default"
hereunder; or

 

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(e)          
the entry of a decree or order by a court having jurisdiction in the premises adjudging the Company a bankrupt or insolvent,
or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the
Company under Title II of the United States Code as now constituted or hereafter amended (the "Federal
Bankruptcy Code") or any other applicable Federal or State law, or appointing a receiver, liquidator, assignee,
trustee, sequestrator (or other similar official) of the Company or of any substantial part of its property, or ordering the winding
up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive
days; or

 

(f)          
the institution by the Company of proceedings to be adjudicated a bankrupt or insolvent, or the consent by it to the institution
of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or answer or consent seeking reorganization
or relief under the Federal Bankruptcy Code or any other applicable Federal or State law, or the consent by it to the filing of
any such petition or to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official)
of the Company or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or
the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action
by the Company in furtherance of any such action; or

 

(g)         
any other Event of Default established as contemplated by Section 3.01 hereof for Securities of such series.

 

Section 7.02 Acceleration of Maturity;
Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time outstanding occurs and
is continuing, then and in each and every such case, unless the principal of all of the Securities of such series shall have already
become due and payable, the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities
of such series may declare the principal amount (or, if the Securities of such series are Original Issue Discount Securities,
such portion of the principal amount as may be specified in the terms of such series) of all the Securities of such series to
be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such
declaration of acceleration the same shall become immediately due and payable, anything in this Indenture or in the Securities
of such series or any resolution of the Board of Directors relating thereto contained to the contrary notwithstanding.

 

At any time after such a declaration of
acceleration has been made and before a judgment or decree for payment of the money due has been obtained or entered as hereinafter
in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of such series, by written
notice to the Company and the Trustee, may waive all defaults with respect to such Securities and rescind and annul such declaration
and its consequences if

 

(a)          
the Company has paid or deposited with the Trustee a sum sufficient to pay

 

		 	(i)      all
overdue installments of interest, if any, on all Securities of such series;

 

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		 	(ii)      the
principal of (and premium, if any, on) any and all Securities of such series which have become due otherwise than by such declaration
of acceleration and interest thereon at the Overdue Rate applicable to the Securities of such series;

 

		 	(iii)      to
the extent that payment of such interest is lawful, interest upon any overdue installment of interest at the Overdue Rate applicable
to the Securities of such series;

 

		 	(iv)      all
sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel and other amounts owing the Trustee under Section 8.07; and

 

(b)         
all Events of Default with respect to Securities of such series, other than the non-payment of the principal of Securities
which have become due solely by such acceleration, have been cured or waived as provided in Section 7.13 or 12.07 hereof.

 

No such waiver and rescission shall affect
any subsequent default or impair any right consequent thereon.

 

Section 7.03 Collection of Indebtedness
and Suits for Enforcement by Trustee. The Company covenants that if

 

(a)          
default is made in the payment of any installment of interest on any Security of any series when such interest becomes due
and payable and such default continues for a period of 30 days,

 

(b)         
default is made in the payment of all or any part of the principal of (or premium, if any, on) any Security of any series
at the Maturity thereof, or

 

(c)          
default is made in the making or satisfaction of any sinking fund payment or analogous obligation when the same becomes
due pursuant to the terms of the Securities of any series established as contemplated by Section 3.01,

 

the Company will, upon demand of the Trustee, pay to the Trustee,
for the benefit of the Holder of any such Security (or Holders of Securities of any such series in the case of clause (c) above),
the whole amount then due and payable on any such Security (or Securities of any such series in the case of clause (c) above) for
principal, premium, if any, and interest, if any, with interest upon the overdue principal (and premium, if any) and, to the extent
that payment of such interest shall be legally enforceable, upon any overdue installment of interest, at the Overdue Rate of any
such Security (or Securities of any such series in the case of clause (c) above); and, in addition thereto, such further amount
as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements
and advances of such Trustee, its agents and counsel, and all other amounts owing the Trustee under Section 8.07.

 

If the Company fails to pay such amounts
forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding
for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decrees, and may enforce
the same against the Company or any other obligor upon such Securities and collect the moneys adjudged or decreed to be payable
in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated.

 

    	29

    	 

    
 

If an Event of Default occurs and is continuing
with respect to the Securities of any series, the Trustee may, in its discretion proceed to protect and enforce its rights and
the rights of the Holders of the Securities of such series by such appropriate judicial proceedings as such Trustee shall deem
most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this
Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

 

Section 7.04 Trustee May File Proofs of
Claim. The Trustee (irrespective of whether the principal of the Securities of any series shall then be due and payable as
therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company
for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise,
in case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition
or other judicial proceeding relative to the Company or any other obligor upon the Securities of such series or the property of
the Company or of such other obligor or their creditors,

 

		 	(i)      to
file and prove a claim or claims for the whole amount of principal (or, if the Securities of such series are Original Issue Discount
Securities, such portion of the principal amount as may be due and payable with respect to such series pursuant to a declaration
in accordance with Section 7.02 hereof), premium, if any, and interest, if any, owing and unpaid in respect of the Securities of
such series and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee
(including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel)
and of the Holders of the Securities of such series allowed in such judicial proceeding, and

 

		 	(ii)      to
collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same;

 

and any receiver, assignee, trustee, liquidator, sequestrator
(or other similar official) in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee,
and in the event that such Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee
any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel,
and any other amounts, due the Trustee under Section 8.07 hereof.

 

Nothing herein contained shall be deemed
to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities of any series or the rights of any Holder thereof, or to authorize the Trustee
to vote in respect of the claim of any Holder in any such proceeding.

 

Section 7.05 Trustee May Enforce Claims
without Possession of Securities. All rights of action and claims under this Indenture or the Securities of any series may
be prosecuted and enforced by the Trustee without the possession of any of the Securities of such series or the production thereof
in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee
of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities
in respect of which such judgment has been recovered.

 

    	30

    	 

    
 

Section 7.06 Application of Money Collected.
Any moneys collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed
by the Trustee and, in case of the distribution of such money on account of principal (or premium, if any) or interest, if any,
upon presentation of the several Securities with respect to which such moneys were collected, and the notation thereon of the
payment if only partially paid and upon surrender thereof if fully paid.

 

FIRST: To the payment of all amounts due
the Trustee under Section 8.07 hereof.

 

SECOND: To the payment of the amounts then
due and unpaid upon such Securities for principal (and premium, if any) and interest, if any, in respect of which or for the benefit
of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable
on such Securities for principal (and premium, if any) and interest, if any, respectively.

 

THIRD: The balance, if any, to the Company.

 

Section 7.07 Limitation on Suits.
No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect
to this Indenture, or for the appointment of a receiver or trustee (or other similar official), or for any other remedy hereunder,
unless

 

(1) an Event of Default shall
have occurred and be continuing and such Holder previously shall have given to the Trustee written notice of default with respect
to the Securities of such series and of the continuance thereof;

 

(2) the Holders of not less than
25% in principal amount of the Outstanding Securities of such series shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 

(3) such Holder or Holders have
offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such
request;

 

(4) the Trustee for 60 days after
receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and

 

(5) no direction inconsistent
with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount
of the Outstanding Securities of such series;

 

it being understood and intended that no one or more Holders
of Securities of such series shall have any right in any manner whatever by virtue of, or by availing of, any provision of this
Indenture to affect, disturb or prejudice the rights of any other Holders of Securities of such series, or to obtain or to seek
to obtain priority or preference over any other such Holders or to enforce any right under this Indenture, except in the manner
herein provided and for the equal and ratable benefit of all the Holders of the Securities of such series.

 

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Section 7.08 Unconditional Right of Holders
to Receive Principal, Premium and Interest. Notwithstanding any other provision of this Indenture, the Holder of a Security
of any series shall have the right which is absolute and unconditional to receive payment of the principal of (and premium, if
any) and (subject to Section 3.08) interest, if any, on such Security on the respective Stated Maturities expressed in such Security
(or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such
rights shall not be impaired without the consent of such Holder.

 

Section 7.09 Restoration of Rights and
Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and
such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such
Holder, then and in every such case the Company, the Trustee and such Holder shall, subject to any determination in such proceeding,
be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of such Trustee
and such Holder shall continue as though no such proceeding had been instituted.

 

Section 7.10 Rights and Remedies Cumulative.
No right or remedy herein conferred upon or reserved to the Trustee or to the Holders of the Securities of any series is intended
to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative
and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.
The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment
of any other appropriate right or remedy.

 

Section 7.11 Delay or Omission Not Waiver.
No delay or omission of the Trustee or of the Holders of the Securities of any series to exercise any right or remedy accruing
upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence
therein. Every right and remedy given by this Article or by law to the Trustee or to such Holders may be exercised from time to
time, and as often as may be deemed expedient, by the Trustee or by such Holders, as the case may be.

 

Section 7.12 Control by Holders. The
Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred
on the Trustee, provided that

 

(a)          
such direction shall not be in conflict with any rule of law or with this Indenture, unduly prejudice the rights of the
Holders or involve the Trustee in personal liability, cost or expense for which it determines it has insufficient security or indemnity
(it being understood that the Trustee shall have no obligation to make any determination with respect to such conflict, prejudice
or liability), and

 

(b)         
the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction.

 

Section 7.13 Waiver of Past Defaults.
The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders
of all the Securities of such series waive any past default hereunder and its consequences, except a default

 

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(a)          in the payment of the principal of (or premium, if any) or interest, if any, on any Security of such series, or in the payment
of any sinking fund installment or analogous obligation with respect to the Securities of such series, or

 

(b)         
in respect of a covenant or provision hereof which under Article Eleven hereof cannot be modified or amended without the
consent of the Holder of each Outstanding Security affected.

 

Upon any such waiver, such default shall
cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this indenture;
but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.

 

Section 7.14 Undertaking for Costs.
All parties to this Indenture agree, and each Holder of a Security by his acceptance thereof shall be deemed to have agreed, that
any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any
suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable
attorneys' fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses
made by such party litigant; but the provisions of this Section 7.14 shall not apply to any suit instituted by such Trustee, to
any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the Outstanding
Securities of any series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of (or premium,
if any) or interest, if any, on any Security on or after the respective Stated Maturities expressed in such Security (or, in the
case of redemption, on or after the Redemption Date).

 

Section 7.15 Waiver of Stay or Extension
Laws. The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead,
or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any
time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that
it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder,
delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such
power as though no such law had been enacted.

 

ARTICLE
VIII

THE TRUSTEE

 

Section 8.01 Certain Duties and Responsibilities.
(a) Except during the continuance of an Event of Default with respect to the Securities of any series,

 

		 	(i)      the
Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture with respect to
the Securities of such series and all other series, and no implied covenants or obligations shall be read into this Indenture against
the Trustee; and

 

		 	(ii)      in
the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to
be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to
the requirements of this Indenture.

 

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(b)         
In case an Event of Default has occurred and is continuing with respect to the Securities of any series, the Trustee shall
exercise such of the rights and powers vested in it by this Indenture with respect to the Securities of such series, and use the
same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct
of his own affairs.

 

(c)          
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

 

		 	(i)      this
Subsection shall not be construed to limit the effect of Subsection (a) of this Section 8.01;

 

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

 

		 	(iii)      the
Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it in respect of the Securities
of any series in good faith in accordance with the direction of the Holders of a majority in principal amount of the Outstanding
Securities of such series pursuant to Section 7.12 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; and

 

		 	(iv)      no
provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability
in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured
to it.

 

(d)         
Whether or not therein expressly so 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 8.01.

 

Section 8.02 Notice of Defaults. Within
90 days after the occurrence of any default hereunder with respect to the Securities of any series, the Trustee shall transmit
by mail to all Holders of the Securities of such series, as the names and addresses of such Holders appear in the Securities Register,
notice of such default hereunder with respect to the Securities of such series known to the Trustee, unless such default shall
have been cured or waived; provided, however, that, except in the case of a default in the payment of principal
of (or premium, if any) or interest, if any, on any Security of such series, or in the payment of any sinking fund installment
or analogous obligation in respect thereof, the Trustee shall be protected in withholding such notice if and so long as the Board
of Directors, the Executive Committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith
determine that the withholding of such notice is in the interest of such Holders; and provided, further, that in
the case of any default of the character specified in Section 7.01(d) hereof no such notice to Holders shall be given until at
least 30 days after the occurrence thereof. For the purpose of this Section 8.02, the term "default"
means any event which is, or after notice or lapse of time or both would become, an Event of Default.

 

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Section 8.03 Certain Rights of Trustee.
Subject to Section 8.01 hereof:

 

(a)          
the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, coupon or other paper or document believed
by it 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 a Company Request
or a Company Order and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution;

 

(c)          
whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established
prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed)
may, in the absence of bad faith on its part, rely upon an Officer's Certificate;

 

(d)         
the Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith in reliance thereon;

 

(e)          
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 this Indenture, unless such Holders shall have offered to such Trustee reasonable
security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such request
or direction;

 

(f)          
the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note or other paper or document,
but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit,
and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records
and premises of the Company, personally or by agent or attorney;

 

(g)         
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 with due care by it hereunder;

 

(h)         
except with respect to Section 12.01, the Trustee shall have no duty to inquire as to the performance of the Company with
respect to covenants contained in Article 12. In addition, the Trustee shall not be deemed to have knowledge of an Event of Default
except (i) any default or Event of Default occurring pursuant to Sections 12.01, 7.01(a) or 7.01(b) or (ii) any default or Event
of Default of which the Trustee shall have received written notification or obtained actual knowledge; and

 

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(i)           
delivery of reports, information and documents to the Trustee under Section 9.04 is for informational purposes only and
the Trustee's receipt of the foregoing shall not constitute constructive notice of any information contained therein or determinable
from information contained therein, including the Company's compliance with any of their covenants hereunder (as to which the Trustee
is entitled to rely exclusively on Officer's Certificates).

 

Section 8.04 Not Responsible for Recitals
or Issuance of Securities. The recitals contained herein and in the Securities, except the certificates of authentication,
shall be taken as the statements of the Company, and the Trustee and any Authenticating Agent assume no responsibility for their
correctness. The Trustee and any Authenticating Agent make no representations as to the validity or sufficiency of this Indenture
or of the Securities. The Trustee and any Authenticating Agent shall not be accountable for the use or application by the Company
of Securities or the proceeds thereof.

 

Section 8.05 May Hold Securities.
The Trustee, any Paying Agent, Securities Registrar, Authenticating Agent or any other agent of the Company or the Trustee, in
its individual or any other capacity, may become the owner or pledgee of Securities of any series and may otherwise deal with
the Company with the same rights it would have if it were not Trustee, Paying Agent, Securities Registrar, Authenticating Agent
or such other agent.

 

Section 8.06 Money Held in Trust.
Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The
Trustee shall be under no liability for interest on or investment of any money received by it hereunder except as otherwise agreed
with the Company and for the sole benefit of the Company.

 

Section 8.07 Compensation and Reimbursement.
The Company agrees

 

(a)          
to pay to the Trustee from time to time reasonable compensation for all services rendered by it hereunder (which compensation
shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust);

 

(b)         
except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements
and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation
and the expenses and disbursements of its agents and counsel and of any Authenticating Agent), except to the extent any such expense,
disbursement or advance may be attributable to its negligence or bad faith; and

 

(c)          
to indemnify the Trustee and its agents for, and to hold them harmless against, any loss, liability or expense arising out
of or in connection with the acceptance or administration of this trust and performance of their duties hereunder, including the
costs and expenses (including fees and disbursements of their counsel) of defending themselves against any claim or liability in
connection with the exercise or performance of any of their powers or duties hereunder, except as to the Trustee or any agent to
the extent any such loss, liability or expense may be attributable to its own negligence or bad faith.

 

As security for the performance of the
obligations of the Company under this Section 8.07, the Trustee shall have a lien prior to the Securities upon all property
and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of (and premium,
if any) or interest, if any, on particular Securities. The provisions of this Section 8.07 shall survive any Trustee
succession and the satisfaction and discharge of this Indenture. "Trustee" for purposes of this Section 8.07 shall
include any predecessor trustee but the negligence and bad faith of any Trustee shall not affect the rights of any other
Trustee under this Section 8.07.

 

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Section 8.08 Disqualification; Conflicting
Interests. Reference is made to Section 310(b) of the Trust Indenture Act. For purposes of Section 310(b)(l) of the Trust
Indenture Act no Trustee shall be deemed to have a conflicting interest by virtue of being Trustee for the Securities of more
than one series.

 

Section 8.09 Corporate Trustee Required;
Different Trustees for Different Series; Eligibility. There shall at all times be a Trustee hereunder for the Securities of
each series which shall be a corporation organized and doing business under the laws of the United States of America or of any
State or the District of Columbia authorized under such laws to exercise corporate trust powers, having a combined capital and
surplus of at least $50,000,000, subject to supervision or examination by Federal or State authority, and, if there is such a
corporation that has a corporate trust office in the Borough of Manhattan, the City of New York, the State of New York, or in
such other city as shall be established as contemplated by Section 3.01 with respect to the Securities of any series that is willing
to act upon reasonable and customary terms, having a corporate trust office in the Borough of Manhattan or such other city. If
such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising
or examining authority, then for the purposes of this Section 8.09, the combined capital and surplus of such corporation shall
be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. A different
Trustee may be appointed by the Company for the Securities of each series prior to the issuance of such Securities. If the initial
Trustee for the Securities of any series is to be other than U.S. Bank National Association (or its successor in interest hereunder,
if any), the Company and such Trustee shall, prior to the issuance of such Securities, execute and deliver an indenture supplemental
hereto, which shall provide for the appointment of such Trustee as Trustee for the Securities of such series and shall add to
or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the
trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute
such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate
and apart from any trust or trusts hereunder administered by any other such Trustee. If at any time the Trustee for the Securities
of any series shall cease to be eligible in accordance with the provisions of this Section 8.09, it shall resign immediately in
the manner and with the effect hereinafter specified in this Article.

 

Section 8.10 Resignation and Removal;
Appointment of Successor. (a) No resignation or removal of the Trustee for the Securities of any series and no appointment
of a successor Trustee for the Securities of such series pursuant to this Article shall become effective until the acceptance
of appointment by the successor Trustee under Section 8.11 hereof.

 

(b)         
The Trustee, or any Trustee or Trustees hereafter appointed for the Securities of any series, may resign at any time with
respect to the Securities of one or more or all such series by giving written notice thereof to the Company. If an instrument of
acceptance by a successor Trustee for the Securities of any series shall not have been delivered to the Trustee for the Securities
of such series within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee for the Securities of such series.

 

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(c)          
The Trustee for the Securities of any series may be removed at any time with respect to one or more or all such series by
Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such one or more series (each voting
as a class) delivered to such Trustee and to the Company.

 

(d)         
If at any time:

 

		 	(i)      the
Trustee for the Securities of any series shall fail to comply with Section 310(b) of the Trust Indenture Act with respect to the
Securities of such series after written request therefor by the Company or by any Holder of Securities of such series who has been
a bona fide Holder of a Security of such series for at least six months, or

 

		 	(ii)      such
Trustee shall cease to be eligible under Section 8.09 hereof and shall fail to resign after written request therefor by the Company
or by any such Holder of Securities, or

 

		 	(iii)      such
Trustee shall become incapable of acting with respect to the Securities of such series or shall be adjudged a bankrupt or insolvent
or a receiver of such Trustee or of its property shall be appointed or any public officer shall take charge or control of such
Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (1)
the Company, by a Board Resolution, may remove the Trustee, or (2) subject to Section 7.14 hereof, any Holder of a Security of
such series who has been a bona fide Holder of such Security for at least six months may, on behalf of himself and all others similarly
situated, petition any court of competent jurisdiction for the removal of such Trustee and the appointment of a successor Trustee
for the Securities of such series.

 

(e)          
If the Trustee for the Securities of any series shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for the Securities of any series for any cause, the Company, by a Board Resolution, shall
promptly appoint a successor Trustee for the Securities of such series. If, within one year after such resignation, removal or
incapability, or the occurrence of such vacancy, a successor Trustee for the Securities of such series shall be appointed by Act
of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the
retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the successor
Trustee for the Securities of such series and supersede the successor Trustee appointed by the Company. If no successor Trustee
for the Securities of such series shall have been so appointed by the Company or such Holders and accepted appointment in the manner
hereinafter provided, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf
of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee
for the Securities of such series.

 

(f)          
The Company shall give notice of each resignation and each removal of the Trustee for the Securities of any series and each
appointment of a successor Trustee for the Securities of such series by mailing written notice of such event by first-class mail,
postage prepaid, to the Holders of the Securities of such series as the names and addresses of such Holders appear in the Securities
Register. Each notice shall include the name of such successor Trustee and the address of its Corporate Trust Office.

 

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Section 8.11 Acceptance of Appointment
by Successor. Every successor Trustee appointed hereunder shall execute, acknowledge and deliver to the Company and to the
retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall
become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights,
powers, trusts and duties of the retiring Trustee; but, on request of the Company or the successor Trustee, such retiring Trustee
shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers
and trusts of the retiring Trustee, and shall duly assign, transfer and deliver to such successor Trustee all property and money
held by such retiring Trustee hereunder, subject nevertheless to its lien, if any, provided for in Section 8.07 hereof. Upon request
of any such successor Trustee, the Company shall execute any and all instruments for more fully and certain vesting in and confirming
to such successor Trustee all such rights, powers and trusts.

 

In case of the appointment hereunder of
a successor Trustee for the Securities of one or more (but not all) series, the Company, the predecessor Trustee and each successor
Trustee for the Securities of any applicable series shall execute and deliver an indenture supplemental hereto which shall contain
such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the predecessor
Trustee for the Securities of any series as to which the predecessor Trustee is not retiring shall continue to be vested in the
predecessor Trustee, and shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee
of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee.

 

No successor Trustee for the Securities
of any series shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified under
Section 310(b) of the Trust Indenture Act and eligible under Section 8.09.

 

Section 8.12 Merger, Conversion, Consolidation
or Succession to Business. Any corporation into which the Trustee for the Securities of any series may be merged or converted
or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such
Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of such Trustee,
shall be the successor of the Trustee for such series hereunder, provided such corporation shall be, with respect to such series,
otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part
of any of the parties hereto. In case any Securities of any series shall have been authenticated, but not delivered, by the Trustee
for such series or an Authenticating Agent for such series, then in office, any successor by merger, conversion or consolidation
to such authenticating Trustee or Authenticating Agent, as the case may be, may adopt such authentication and deliver the Securities
so authenticated with the same effect as if such successor Trustee or successor Authenticating Agent had itself authenticated
such Securities.

 

Section 8.13 Preferential Collection of
Claims against Company. Reference is made to Section 311 of the Trust Indenture Act, for purposes of which:

 

		 	(i)      The
term "cash transaction" means any transaction in which full payment for
goods or securities sold is made within seven days after delivery of the goods or securities in currency or in checks or other
orders drawn upon banks or bankers and payable upon demand.

 

    	39

    	 

    
 

		 	(ii)      The
term "self-liquidating paper" means any draft, bill of exchange, acceptance
or obligation which is made, drawn, negotiated or incurred by the Company for the purpose of financing the purchase, processing,
manufacturing, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing title to possession
of, or a lien upon, the goods, wares or merchandise or the receivables or proceeds arising from the sale of the goods, wares or
merchandise previously constituting the security, provided the security is received by the Trustee simultaneously
with the creation of the creditor relationship with the Company arising from the making, drawing, negotiating or incurring of the
draft, bill of exchange, acceptance or obligation.

 

Section 8.14 Authenticating Agent.
The Trustee may appoint an Authenticating Agent for the Securities of each series which shall be acceptable to the Company, to
act on behalf of such Trustee and subject to its direction in connection with the authentication of the Securities of such series.
Each Authenticating Agent shall at all times be a corporation organized and doing business under the laws of the United States
of America or of any State, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus
of at least $50,000,000, and subject to supervision or examination by Federal or State authority. If such corporation publishes
reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority,
then for the purposes of this Section 8.14 the combined capital and surplus of such corporation shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published.

 

Securities of any series authenticated by
the Authenticating Agent for the Securities of such series shall be entitled to the benefits of this Indenture and shall be valid
and obligatory for all purposes as if authenticated by the Trustee for the Securities of such series. Whenever reference is made
in this Indenture to the authentication and delivery of Securities of any series by the Trustee or such Trustee's certificate of
authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by the Authenticating
Agent for the Securities of such series and a certificate of authentication executed on behalf of the Trustee by such Authenticating
Agent.

 

Any corporation into which any Authenticating
Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion
or consolidation to which any Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency business
of any Authenticating Agent, shall continue to be the Authenticating Agent with respect to the Securities of all series for which
it served as Authenticating Agent without the execution or filing of any paper or any further act on the part of the Trustee or
such Authenticating Agent.

 

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 for the Securities of any series 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 in accordance with the provisions of this Section 8.14, with respect to the Securities of one
or more or all series, the Trustee promptly shall appoint a successor Authenticating Agent which shall be acceptable to the Company,
and upon doing so shall give written notice of such appointment to the Company and shall mail notice of such appointment to all
Holders of the Securities of such series as the names and addresses of such Holders appear upon the Securities Register. Any successor
Authenticating Agent upon acceptance of its appointment hereunder, shall become vested with all the rights, powers, duties and
responsibilities of its predecessor hereunder with like effect as if originally appointed as Authenticating Agent hereunder. No
successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section 8.14.

 

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The Trustee agrees to pay to each Authenticating
Agent from time to time reasonable compensation for its services, and the Trustee shall be entitled to be reimbursed for such payments
subject to the provisions of Section 8.07 hereof.

 

ARTICLE
IX

HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

 

Section 9.01 Company to Furnish Trustee
Names and Addresses of Holders. The Company will furnish or cause to be furnished to the Trustee (a) semi-annually, on a date
not more than 15 days after each regular record date with respect to an Interest Payment Date, if any, for the Securities of each
series, and (b) on semi-annual dates in each year to be established as contemplated by Section 3.01 hereof if the Securities of
any series do not bear interest and (c) at such other times as the Trustee may request in writing, within 30 days after receipt
by the Company of any such request, a list in such form as the Trustee may reasonably require containing all the information in
the possession or control of the Company, or any of its Paying Agents other than the Trustee, as to the names and addresses of
the Holders of the Securities of such series, obtained since the date as of which the next previous list, if any, was furnished.
Any such list may be dated as of a date not more than 15 days prior to the time such information is furnished or caused to be
furnished and need not include information received after such date; provided, however, that as long as the Trustee
is the Securities Registrar for the Securities of such series, no such list shall be required to be furnished.

 

Section 9.02 Preservation of Information;
Communications to Holders. (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names and
addresses of Holders of the Securities of each series contained in the most recent list furnished to such Trustee as provided
in Section 9.01 hereof or in the Securities Register if such Trustee be the Securities Registrar for such series and the names
and addresses of Holders received by the Trustee in its capacity as Paying Agent for the Securities of such series. The Trustee
may destroy any list furnished to it as provided in Section 9.01 hereof upon receipt of a new list so furnished.

 

(b)         
If three or more Holders of the Securities of any series (hereinafter referred to as "applicants")
apply in writing to the Trustee, furnish to the Trustee reasonable proof that each such applicant has owned a Security of such
series for a period of at least six months preceding the date of such application, and such application states that the applicants
desire to communicate with other Holders of the Securities of any series with respect to their rights under this Indenture or under
the Securities of any series and is accompanied by a copy of the form of proxy or other communication which such applicants propose
to transmit, then the Trustee shall, within five Business Days after the receipt of such application, at its election, either

 

		 	(i)      afford
such applicants access to the information preserved at the time by the Trustee in accordance with Subsection (a) of this Section
9.02, or

 

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		 	(ii)      inform
such applicants as to the approximate number of such Holders whose names and addresses appear in the information preserved at the
time by the Trustee in accordance with Subsection (a) of this Section 9.02, and as to the approximate cost of mailing to such Holders
the form of proxy or other communication, if any, specified in such application.

 

(c)          
If the Trustee shall elect not to afford such applicants access to such information, the Trustee shall, upon the written
request of such applicants, mail to each Holder with which the applicant desires to communicate those names and addresses as they
appear in the information preserved at the time by such Trustee in accordance with Subsection (a) of this Section 9.02, a copy
of the form of proxy or other communication which is specified in such request, with reasonable promptness after a tender to the
Trustee of the material to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing, unless
within five days after such tender, the Trustee shall mail to such applicants and file with the Commission, together with a copy
of the material to be mailed, a written statement to the effect that, in the opinion of the Trustee, such mailing would be contrary
to the best interests of such Holders or would be in violation of applicable law. Such written statement shall specify the basis
of such opinion. If the Commission, after opportunity for a hearing upon the objections specified in the written statement so filed,
shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining one or more of such
objections, the Commission shall find, after notice and opportunity for hearing, that all the objections so sustained have been
met and shall enter an order so declaring, the Trustee shall mail copies of such material to all such Holders with reasonable promptness
after the entry of such order and the renewal of such tender; otherwise the Trustee shall be relieved of any obligation or duty
to such applicants respecting their application.

 

(d)         
Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the
Company nor the Trustee, nor any agent of the Company or the Trustee, shall be held accountable by reason of the disclosure of
any such information as to the names and addresses of the Holders in accordance with Subsection (b) of this Section 9.02, regardless
of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing
any material pursuant to a request made under Subsection (b) of this Section 9.02.

 

Section 9.03 Reports by Trustee. (a)
Within 60 days after the first May 15 which occurs not less than 60 days following the first date of issuance of the Securities
of any series under this Indenture and within 60 days after May 15 in every year thereafter, the Trustee shall transmit by mail
to all Holders of such series, as their names and addresses appear in the Securities Register, any brief report, dated as of such
May 15, required by Section 313(a) of the Trust Indenture Act and at such other times in such manner such other reports as may
be required by Section 313 of the Trust Indenture Act in each case with respect to the Securities of such series. A copy of each
such report shall, at the time of such transmission to such Holders, be filed by such Trustee with each stock exchange upon which
such Securities are listed and also with the Commission. The Company will notify such Trustee when such Securities are listed
on any stock exchange.

 

Section 9.04 Reports by Company. The
Company will

 

(a)          
file with the Trustee for the Securities of each series, within 15 Business Days after the Company files the same with the
Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any
of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Company may be required
to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to
file information, documents or reports pursuant to either of said Sections, then it will file with such Trustee and the Commission,
in accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic
information, documents and reports which may be required pursuant to Section 13 of the Exchange Act of in respect of a security
listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations;

 

    	42

    	 

    
 

(b)         
file with such Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the
Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and
covenants of this Indenture as may be required from time to time by such rules and regulations; and

 

(c)          
transmit by mail to all Holders, as the names and addresses of such Holders appear in the Securities Register, within 30
days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by
the Company pursuant to paragraphs (a) and (b) of this Section 9.04 as may be required by rules and regulations prescribed from
time to time by the Commission.

 

(d)         
Notwithstanding the foregoing Section 9.04(a) and (b), the Company will be deemed to have filed the reports required by
Section 9.04(a) and (b) with the Trustee if it has filed such reports with the SEC via the EDGAR filing system and such reports
are publicly available.

 

ARTICLE
X

CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER

 

Section 10.01 Company May Consolidate,
etc., Only on Certain Terms. The Company shall not consolidate with or merge into any other Person or convey, transfer or
lease all or substantially all of its properties and assets to any Person or group of Persons other than to a direct or indirect
wholly-owned Subsidiary, unless:

 

(1) the Person formed by such
consolidation or into which the Company is merged or the Person or group of Persons that acquires by conveyance or transfer, or
which leases, all or substantially all of the properties and assets of the Company shall be a Person organized and existing under
the laws of the United States of America, any State thereof or the District of Columbia, and shall expressly assume, by an indenture
supplemental hereto, executed and delivered to the Trustee for the Securities of each series in form satisfactory to such Trustee,
the due and punctual payment of the principal of and interest on all the Securities and the performance of every covenant of this
Indenture on the part of the Company to be performed or observed;

 

(2) immediately after giving effect
to such transaction, no Event of Default, and no event that, after notice or lapse of time, or both, would become an Event of Default,
shall have occurred and be continuing other than an Event of Default which will be cured by such merger or other transaction; and

 

    	43

    	 

    
 

(3) the Company has delivered
to such Trustee an Officer's Certificate and an Opinion of Counsel each stating that such consolidation, merger, conveyance, transfer
or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with
this Article and that all conditions precedent herein provided for relating to such transaction have been complied with.

 

The provisions of this Section 10.01 shall
not be applicable to a merger or consolidation in which the Company is the surviving corporation.

 

Section 10.02 Successor Person Substituted.
Upon any consolidation or merger, or any conveyance or transfer of all or substantially all of the properties and assets of the
Company in accordance with Section 10.01, the successor Person formed by such consolidation or into which the Company is merged
or to which such conveyance or transfer 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 relieved of all obligations and covenants under the Indenture and the Securities.

 

ARTICLE
XI

SUPPLEMENTAL INDENTURES

 

Section 11.01 Supplemental Indentures
without Consent of Holders. Without the consent of any Holders, the Company, when authorized by Board Resolution, and the
Trustee at any time and from time to time may enter into one or more indentures supplemental hereto, in form satisfactory to the
Trustee, for any of the following purposes:

 

(a)          
to evidence the succession of another Person to the Company, and the assumption by any such successor of the covenants of
the Company herein and in the Securities contained; or

 

(b)         
to add to or modify the covenants or Events of Default of the Company, for the benefit of the Holders of the Securities
of any or all series, to convey, transfer, assign, mortgage or pledge any property to or with the Trustee, or to surrender any
right or power herein conferred upon the Company; or

 

(c)          
to establish the form and terms of the Securities of any series as contemplated by Section 2.01 or 3.01 hereof; or

 

(d)         
to add to or change any of the provisions of this Indenture as is necessary or advisable to facilitate the issuance of Securities
of any series in bearer form, registrable or nonregistrable as to principal and with or without interest coupons, and to provide
for exchangeability of such Securities with the Securities of the same series issued hereunder in fully registered form and to
make all appropriate changes for such purpose, or to permit or facilitate the issuance of Securities in uncertificated form; or

 

(e)          
to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any other
provision herein or to conform the terms hereof, as amended and supplemented, that are applicable to the Securities of any series
to the description of the terms of such Securities in the offering memorandum, prospectus supplement or other offering document
applicable to such Securities at the time of the initial sale thereof; or

 

    	44

    	 

    

 

(f)          
to make any other provisions with respect to matters or questions arising under this Indenture which shall not adversely
affect the interests of the Holders in any material respect; or

 

(g)         
to add to or change any of the provisions of this Indenture to provide that bearer Securities may be registrable as to principal,
to change or eliminate any restrictions on the payment of principal of, or premium, if any, or interest on bearer Securities or
on the delivery of bearer Securities, or to permit bearer Securities to be issued in exchange for bearer Securities of other authorized
denominations, provided any such action shall not adversely affect the interests of the Holders of bearer Securities
of any series or any related coupons in any material respect unless such amendment is required to comply with the Bearer Rules;
or

 

(h)         
to supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance
and discharge of any series of Securities pursuant to Article Six, provided that any such action shall not adversely affect the
interests of the Holders of Securities of such series or any other series of Securities in any material respect; or

 

(i)           
to evidence and provide for the acceptance of appointment hereunder of a Trustee other than U.S. Bank National Association
(or its successor in interest hereunder, if any), as Trustee for the Securities of any series of Securities and to add to or change
any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder
by more than one Trustee, pursuant to the requirements of Section 8.09 hereof; or

 

(j)           
to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities
of one or more series or to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 8.11 hereof; or

 

(k)         
to add to, change or eliminate any of the provisions of this Indenture; provided, that any such addition, change
or elimination (i) shall become effective only when no Security of any series entitled to the benefits of such provision and issued
prior to the execution of such supplemental indenture is outstanding or (ii) shall not apply to any outstanding Security;

 

(l)           
to comply with the rules or regulations of any securities exchange or automated quotation system on which any Securities
are listed or traded; or

 

(m)       
to add, change or eliminate any provisions of this Indenture in accordance with any amendments to the Trust Indenture Act,
provided that any such action shall not adversely affect the interests of the Holders of the Securities in any material respect.

 

Section 11.02 Supplemental
Indentures with Consent of Holders. Subject to Sections 7.12 and 7.13 hereof, with the consent of the Holders of not less
than a majority in aggregate principal amount of the Outstanding Securities of each series affected thereby, by Act of said
Holders delivered to the Company and the Trustee, the Company, when authorized by Board Resolution, and the Trustee may 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 of modifying in any manner the rights of the Holders of the Securities
of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the
consent of the Holder of each Outstanding Security affected thereby,

 

    	45

    	 

    
 

(a)          
change the Stated Maturity of the principal of, or any installment of interest on, any Security, or reduce the principal
amount thereof or the interest thereon, or any premium payable on the redemption thereof, or change the Place of Payment, or the
coin or currency in which any Security or the interest, if any, thereon is payable, or reduce the amount of the principal of an
Original Issue Discount Security that would be due and payable upon an acceleration of the Maturity thereof or adversely affect
the right of repayment, if any, at the option of the Holder, or reduce the amount of, or postpone the date fixed for, any payment
under the sinking fund for any Security, or impair the right to institute suit for the enforcement of any such payment on or after
the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or

 

(b)         
reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required
for any such supplemental indenture, or the consent of whose Holders is required for any waiver of compliance with certain provisions
of this Indenture or certain defaults hereunder and their consequences provided for in this Indenture, or

 

(c)          
modify any of the provisions of this Section 11.02 or Section 7.13 hereof, except to increase any such percentage or to
provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each
Security affected thereby .

 

A supplemental indenture that changes or
eliminates any covenant or other provision of this Indenture that has been expressly included solely for the benefit of the Securities
of one or more particular series, or that modifies the rights of the Holders of the Securities of one or more such series with
respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of the
Securities of any other series.

 

It shall not be necessary for any Act of
Holders under this Section 11.02 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient
if such Act shall approve the substance thereof.

 

Section 11.03 Execution of Supplemental
Indentures. In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article
or the modifications thereby of the trusts created by this Indenture, the Trustee for the Securities of any series shall be entitled
to receive, and (subject to Sections 8.01 and 8.03 hereof) shall be fully protected in relying upon, an Opinion of Counsel stating
that the execution of such supplemental indenture is authorized or permitted by this Indenture. Such Trustee may, but shall not
be obligated to, enter into any such supplemental indenture which affects such Trustee's own rights, duties or immunities under
this Indenture or otherwise.

 

Section 11.04 Notice of Supplemental Indenture.
Promptly after the execution by the Company and the appropriate Trustee of any supplemental indenture pursuant to Section 11.02
hereof, the Company shall transmit by mail to all Holders of Securities of any series affected thereby, as their names and addresses
appear in the Securities Register, a notice setting forth in general terms the substance of such supplemental indenture.

 

    	46

    	 

    
 

Section 11.05 Effect of Supplemental Indentures.
Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith
but only with respect to the Securities of each series affected by such supplemental indenture, and such supplemental indenture
shall form a part of this Indenture for all purposes with respect to the Securities of such series; and every Holder of Securities
of any such series theretofore or thereafter authenticated and delivered hereunder shall be bound thereby.

 

Section 11.06 Conformity with Trust Indenture
Act. Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture
Act as then in effect.

 

Section 11.07 Reference in Securities
to Supplemental Indentures. Securities of any series authenticated and delivered after the execution of any supplemental indenture
pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any
matter provided for in such supplemental indenture. If the Company shall so determine, new Securities so modified as to conform,
in the opinion of the Trustee and the Board of Directors, to any such supplemental indenture may be prepared and executed by the
Company and authenticated and delivered by or on behalf of such Trustee in exchange for Outstanding Securities of the same series.

 

ARTICLE
XII

COVENANTS

 

Section 12.01 Payment of Principal, Premium
and Interest. The Company will duly and punctually pay the principal of, premium, if any, and interest, if any, on the Securities
of each series in accordance with the terms of such Securities established as contemplated by Section 3.01 and this Indenture.

 

Section 12.02 Maintenance of Office or
Agency. The Company will maintain in each Place of Payment for the Securities of any series, an office or agency where Securities
of such series may be presented or surrendered for payment, where Securities of such series may be surrendered for registration
of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of such series and this
Indenture may be served; provided, however, that at the option of the Company, payment of interest may be made (subject
to collection) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register.
With respect to the Securities of any series, such office or agency and each Place of Payment shall be as established as contemplated
by Section 3.01. In the absence of establishment as contemplated by Section 3.01 with respect to the Securities of any series,
(i) the Place of Payment for such Securities shall be in the city that the Corporate Trust Office shall be in and (ii) such office
or agency in such Place of Payment shall initially be the Corporate Trust Office of the Trustee. The Company will give prompt
written notice to the Trustee of the location, and any change in the location, of any such office or agency, if at any time the
Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee for the Securities of each
series with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust
Office of such Trustee, and the Company hereby appoints the Trustee its agent to receive all such presentations, surrenders, notices
and demands with respect to the Securities of such series.

 

The Company may also from time to time designate
one or more other offices or agencies (in or outside the Place of Payment) where the Securities of one or more series may be presented
or surrendered for any or all of such purposes specified above, and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an
office or agency in each Place of Payment for such purpose.

 

    	47

    	 

    
 

 

Section 12.03 Money for Securities Payments
to Be Held in Trust. If the Company shall at any time act as its own Paying Agent, it will, on or before each due date of
the principal of (and premium, if any) or interest, if any, on, any of the Securities of any series, segregate and hold in trust
for the benefit of the Persons entitled thereto a sum sufficient to pay the principal, premium, if any, or interest, if any, so
becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify
the Trustee of such series of its failure so to act.

 

Whenever the Company shall have one or more
Paying Agents, it will, on or before each due date of the principal of (and premium, if any) or interest, if any, on, any Securities
of any series, deposit with a Paying Agent for the Securities of such series a sum sufficient to pay the principal, premium, if
any, or interest, if any, so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal,
premium or interest, if any, and (unless such Paying Agent is the Trustee for the Securities of such series) the Company will promptly
notify such Trustee at its Corporate Trust Office of its failure so to act.

 

The Company will cause each Paying Agent
for the Securities of any series other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying
Agent shall agree with the Trustee, subject to the provisions of this Section 12.03, that such Paying Agent will

 

(a)          
hold all sums held by it for the payment of the principal of, premium, if any, or interest, if any, on the Securities of
such series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise
disposed of as herein provided;

 

(b)         
give such Trustee notice of any default by the Company (or any other obligor upon the Securities of such series) in the
making of any payment of principal, premium, if any, or interest, if any; and

 

(c)          
at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee
all sums so held in trust by such Paying Agent.

 

The Company may at any time, for the purpose
of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying
Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by such Trustee upon
the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying
Agent to such Trustee, such Paying Agent shall be released from all further liability with respect to such money.

 

Section 12.04 Statement as to Compliance.
The Company will file with the Trustee within four months after the close of each fiscal year (which, until the Company shall
otherwise notify the Trustee, shall be deemed to be the calendar year) a brief certificate, which need not comply with Section
1.02 hereof, from the principal executive, financial or accounting officer of the Company as to his or her knowledge of the Company's
compliance with all conditions and covenants under this Indenture (without regard to any period of grace or requirement of notice
provided in this Indenture).

 

    	48

    	 

    
 

Section 12.05 Corporate Existence.
Subject to Article Ten (Article X) hereof, the Company will do or cause to be done all things necessary to preserve and keep in
full force and effect its corporate existence.

 

Section 12.06 Permit No Vacancy in Office
of Trustee. The Company, whenever necessary to avoid or fill a vacancy in the office of the Trustee for the Securities of
any series, will appoint, in the manner provided in Section 8.10 hereof, a Trustee for the Securities of such series, so that
there shall at all times be a Trustee for the Securities of every series hereunder.

 

Section 12.07 Waiver. Without limitation
of the rights of the Holders and the Company with respect to waivers and amendments set forth in Sections 7.13 and 11.02, the
Company may omit in any particular instance to comply with a covenant or provision hereof which non-compliance could constitute
a default hereunder (other than (i) a covenant or provision with respect to the payment of the principal of (or premium, if any)
or interest, if any, on any Security of any series, or in payment of any sinking fund installment or analogous obligation with
respect to the Securities of such series or (ii) a covenant or provision which under Article Eleven hereof cannot be modified
or amended without the consent of the Holder of each Outstanding Security affected), if before or after the time for such compliance
the Holders of at least a majority in principal amount of the Securities at the time Outstanding of any series affected by the
omission shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such
covenant or provision, but no such waiver shall extend to or affect such covenant or provision except to the extent so expressly
waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect
of any such covenant or provision shall remain in full force and effect.

 

    	49

    	 

    

 

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

 

 

	 	SELECTIVE INSURANCE GROUP, INC.
	 	 
	 	By: 	/s/ Dale A. Thatcher
	 	 	Name:Dale A. Thatcher

Title:Executive Vice President and

Chief Financial Officer

 

 

 

 

 

Signature
Page

Indenture

    	 

    	 

    

 

	 	U.S. BANK NATIONAL ASSOCIATION,
	 	as Trustee
	 	 
	 	By: 	/s/ T. Scott Fesler
	 	 	Name:T. Scott Fesler

Title:Vice President

 

 

 

 

 

 

 

Signature
Page

Indenture

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