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EMPLOYMENT AGREEMENT

    This Agreement is made and is effective as of September 23, 2021, by and between Bank of Marin, a California state chartered bank (“Bank”) , its parent corporation, Bank of Marin Bancorp, a California corporation (“Bancorp”) (collectively, the “Company”) and Timothy Myers (“Executive”).

    WHEREAS, Company desires to employ Executive in the capacity of President and Chief Executive Officer, and Executive’s background, expertise and efforts are expected to contribute to the success and financial strength of the Company; and

    WHEREAS, the Company wishes to assure itself of the opportunity to benefit from Executive’s services for the period provided in this Agreement, and Executive wishes to serve in the employ of the Company on a full-time basis solely in accordance with the terms hereof for such purposes; and

    WHEREAS, the parties previously entered into that certain Change of Control Agreement dated September 23, 2021 (the “Change of Control Agreement”) providing Executive certain benefits in the event of a significant corporate event;  

    WHEREAS, the Board of Directors of the Company (“Board”) has determined that the best interests of the Company would be served by Executive’s employment with the Company under the terms of this Agreement; 

    NOW, THEREFORE, in order to effect the foregoing, the parties hereto wish to enter into an employment agreement on the terms and conditions set forth below. Accordingly, in consideration of the premises and the respective covenants and agreements of the parties herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

1.Definitions.

(a)“Agreement” means this employment agreement and any amendments hereto complying with Section 13(a) hereof.

(b)“Board” means the Board of Directors of the Company unless the context otherwise requires.

(c)“Bonus” means the Executive’s contemplated annual incentive payment for the year of Termination calculated using the then current percentage of base salary as defined in the Bank’s files.  The initial percentage will be forty percent (65%) of base salary as provided for in Section 5(c).

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(d)“Cause” means:

(i)    Executive’s personal dishonesty, incompetence or willful misconduct;

(ii)    Executive commits an act or acts or an omission to act which constitutes: (a) a willful breach of duty in the course of Executive’s employment; (b) a habitual neglect of duty; (c) a willful violation of any applicable banking law or regulation; or (d) a willful violation of any policy, procedure, practice, method of operation or specific mode of conduct established by the Bank or as set forth in the Bank’s Employee Handbook or other policy;

(iii)    Executive engages in activity which, in the opinion of the Company, could materially adversely affect Company’s reputation in the community or which evidences the lack of Executive’s fitness or ability to perform Executive’s duties as determined by the Company, in good faith; or

(iv)Executive commits any act or acts or an omission to act which
would cause termination of coverage under the Bank’s Bankers Blanket Bond as to Executive or as to Company as a whole or any act, which would give rise to a colorable claim by the Company under its Bankers Blanket Bond as determined by the Board in good faith.

    (e)    “COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1985.

    (f)    “Confidential Information” means all of Company’s Trade Secrets, as defined in California Civil Code §§3426, et seq., and by this Agreement also expressly includes, but is not limited to: business plans; financial statements/records and budgets; marketing and sales strategies; data, compilations, or lists of past and current client or potential client names, addresses, telephone numbers, fax numbers, email addresses, financial information, and other personal or demographic information related to clients or potential clients; business know-how and show-how; software source code and object code; database applications; and other secret or proprietary information or compilations of information relating to Company’s business.

    (g)    “Code” shall mean the Internal Revenue Code, as amended.

    (h)    “Disability” means physical condition or mental illness resulting in Executive’s inability to perform the essential functions of his position with or without reasonable accommodation and shall be deemed to have occurred only after 
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Executive becomes eligible to receive benefit payments pursuant to the Company’s long-term disability insurance plan.   

    (i)    “Expiration” means the termination of this Agreement (including Executive’s employment hereunder) and of any further obligations of the parties (except as specified in this Agreement) upon completion of the Term.

    (j)    “Person” means an individual, a group acting in concert, a corporation, a partnership, an association, a joint stock company, a trust, any unincorporated organization, a government or political subdivision thereof, or any other entity whatsoever.

    (k)     “Term” means the term of this Agreement as provided in Section 4.
g
    (l)    “Termination” or “Terminate(d)” means the termination of Executive’s employment hereunder for any of the following reasons unless the context indicates otherwise:

            (i)     Retirement by Executive;

            (ii)     Death of Executive;

            (iii)     Disability;

            (iv)     Expiration;

            (v)    Termination Without Cause;

            (vi)      Termination for Cause; and

            (vii)    Resignation by Executive.

(m)    “Termination Without Cause” or “Terminate(d) Without Cause” means the cessation of Executive’s employment hereunder for any reason except:

            (i)    Resignation;

            (ii)    Termination for Cause;

            (iii)    Retirement;

            (iv)    Disability;

            (v)    Death; or
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            (vi)    Expiration.

    2.    Employment. Notwithstanding any other provision to the contrary contained herein, it is agreed by the parties hereto that the Executive’s employment by the Company hereunder shall be at-will, and that the Company may at any time elect to terminate this Agreement and Executive’s employment for any reason.  In this Agreement, notwithstanding the foregoing, in the event of any Termination Without Cause pursuant to Section 6 of this Agreement, all severance and other benefits provided for in Section 7 of this Agreement shall be provided by the Company to the Executive and no other severance or other benefits shall be due or owing Executive.  

    3.    Position and Responsibilities. The Company and Executive agree that, subject to the provisions of this Agreement, the Company shall employ and the Executive shall serve as President and Chief Executive Officer of the Company for the Term of this Agreement.  Executive shall have such responsibilities, duties and authority as are generally associated with such positions and as may from time to time be assigned to the Executive by Board that are consistent with such responsibilities, duties and authority. Subject to adjustment by the Board at any time, attached as Exhibit A is the current list of duties for Executive.  During the Term of this Agreement, the Executive shall devote all his time, attention, skill and efforts during normal business hours to the business and affairs of the Company. 

    4.    Term of Agreement. Subject to the terms and provisions of this Agreement, this Agreement and the period of Executive’s employment shall be deemed to have commenced as of November 1, 2021 and shall have a two year term subject to automatic annual one year renewals on November 1st of each year, unless either the Company or the Executive gives advance written notice of intent not to renew this Agreement by July 1.  Upon Expiration of the Term after such notice, Executive’s employment shall cease without further liability of the parties to each other.  Executive’s employment shall also terminate, and the Term of this Agreement will expire, upon Executive’s resignation, retirement, death or Disability, or upon Executive’s Termination for Cause.  Any termination of Executive’s employment hereunder shall also terminate without further action by Executive any position he holds as an officer and director of Company.

5.Salary, Bonus and Related Matters. 

            (a) Salary. The Bank shall pay to the Executive a base salary of Four Hundred Seventy Five Thousand and 00/100 dollars ($475,000.00) annually. Executive’s salary shall be payable at regular intervals in accordance with the Bank’s normal payroll practices now or hereafter in effect.

            (b) Adjustments to Salary. Executive’s base salary will be annually reviewed in April of each year, beginning in 2023, in accordance with the 
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Company’s standard policy and may be adjusted, based upon such annual performance evaluation, on April 1 of each year. 

    (c) Annual Incentive Payment. Executive has the potential to earn a target annual incentive payment of sixty-five percent (65%) of his base salary.  The amount of this annual incentive payment, if any, in any such year shall be: (i) based on performance, (ii) calculated in accordance with and subject to the terms of the Bank of Marin Individual Incentive Plan, and (iii) approved by the Board, subject to the terms of the Bank of Marin Individual Incentive Plan.

        (d) Reimbursement. During the period of the Executive’s employment hereunder, the Company will reimburse the Executive in accordance with the Company’s reimbursement policies for all reasonable, ordinary and necessary business expenses.  In addition, the Company will (i) provide an automobile allowance of One Thousand Two Hundred Dollars ($1,200) per month, and (ii) reimburse necessary air travel expense for Executive’s spouse up to a maximum of Two Thousand Dollars ($2,000) per year.

    (e) Benefit Plans. During the period of the Executive’s employment hereunder, the Executive shall be entitled to participate in any current or future benefits plans available to employees or senior officers of the Company in accordance with the terms of such plans, as they may be modified or eliminated from time to time.

    (f) Benefits Not in Lieu of Compensation. No benefit or perquisite provided to the Executive will be deemed to be in lieu of base salary, incentive payment or other compensation.    

    (g) Equipment. The Company will provide the Executive with all equipment needed to perform his duties and such equipment may be modified or eliminated from time to time.

6.Termination. 

(a)    Resignation, Retirement, Death or Disability.  Executive’s employment hereunder shall cease at any time by Executive’s resignation, or by Executive’s retirement, death or Disability.

(b)    Termination for Cause.  Executive’s employment shall cease upon a good faith finding of Cause by the Company.

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(c)    Termination Without Cause.  Executive’s employment may be terminated Without Cause pursuant to this Section 6(c) upon 30 days’ notice for any reason, subject to the payment of all amounts required by Section 7 hereof.

(d)    Resignation for Good Reason.  During the Term hereof, Executive may, under the following circumstances, “Resign for Good Reason” (and in such case Executive's employment shall terminate) within 30 days of Executive's discovery of the occurrence of the following event:

(A)    Without Executive's express written consent, any adverse change in Executive’s status or position as a result of a material diminution in Executive’s duties or responsibilities through the assignment to the Executive of any duties or responsibilities inconsistent with the Executive’s position, removal of the Executive from his positions, or otherwise, including but not limited to a change in reporting structure to a position below President;

    Following a Resignation for Good Reason, and upon satisfaction of the conditions set forth therein, Executive shall be entitled to the compensation provided for in Section 7(g), below.

(e)    Expiration.  Executive’s employment shall cease upon the expiration of the Term of this Agreement as provided in Section 4 hereof.

(f)    Supervisory Suspension.  If the Executive is suspended and/or temporarily prohibited from participating in the conduct of the Bank’s or Bancorp’s affairs by a notice served under Sections 8(e) or (g) of the Federal Deposit Insurance Act or similar statute, rule or regulation, the Company’s obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings.  If the charges in the notice are dismissed, the Company shall, (i) pay the Executive all of the compensation withheld while its obligations under this Agreement were suspended unless a lesser sum is provided for as part of any such dismissal and (ii) reinstate any of its obligations which were suspended except to the extent limited by any such dismissal.

(g)    Regulatory Removal.  If the Executive is removed and/or permanently prohibited from participating in the conduct of the Bancorp’s or Bank’s affairs by an order issued under Sections 8(e) or (g) of the Federal Deposit Insurance Act or similar statute, rule or regulation, all obligations of the Company under this Agreement shall terminate as of the effective date of the order.

7.Payments to Executive Upon Termination.
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(a)    Death.  In the event of Termination of this Agreement due to Executive’s death, Executive’s spouse and/or estate (“Beneficiary”) shall be entitled to the Executive’s pro-rata Bonus (computed solely on a time basis) up to the date of such death without reduction.  An example of such pro-rata Bonus computation is attached as Exhibit B.  The rights of a Beneficiary in connection with any stock grant, stock award or stock option granted to Executive shall be governed by the plan pursuant to which any such grant, award or option was granted and any related agreement. Payments will be made to the beneficiary in accordance with the terms of any benefit plan.

(b)    Disability.  In the event of Termination of this Agreement due to Executive’s Disability, the Executive or Beneficiary shall be entitled to be paid all benefits in accordance with the terms and procedures of the Company’s long-term disability policy.  In addition, the Company will also pay an amount equal to Executive’s pro-rata Bonus (computed solely on a time basis) up to the date of such disability without reduction.  An example of such pro-rata Bonus computation is attached as Exhibit B.    The rights of Executive or a Beneficiary in connection with any stock grant, stock award or stock option granted to Executive shall be governed by the plan pursuant to which any such grant, award or option was granted and any related agreement.  

(c)    Retirement.  In the event of Termination of this Agreement due to Executive’s retirement, Executive shall be entitled to all benefits generally available to Company employees as of the date of such retirement, without reduction.

(d)    Resignation.  In the event of Executive’s resignation or upon Expiration, the Company shall have no further obligations to Executive under this Agreement, except as may be expressly required by law.  Executive’s rights under each employee benefit plan in which he participates will be determined in accordance with the terms of the plan.    

(e)    Cause. In the event Executive is Terminated for Cause, the Company shall have no further obligations to Executive under this Agreement or otherwise, except as may be expressly required by law.

(f)    Without Cause. Upon the occurrence of a Termination Without Cause, and subject to his execution of a release of claims in favor of the Company, its affiliates, and their respective officers and directors in the form attached hereto as Exhibit “C” (the “Release”) and the Release becoming effective within thirty (30) days following the Termination Date, as severance pay and in lieu of damages for breach of this Agreement, in the event that the Termination of 
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this Agreement occurs, the Company shall pay to Executive, in the aggregate, a lump sum equal to twelve months base salary then in effect, less applicable state and federal withholdings.  Such lump sum shall be paid six months after Executive’s Termination Without Cause, as the case may be, or shall be paid at such earlier time as permitted by Section 409A of the Code.  On the date of such payment, the Company shall also pay an amount equal to the Executive’s pro-rata Bonus earned up to the date of Termination.  For purposes of the preceding sentence, the concept of an “earned” pro-rata Bonus contemplates a proration based on both time and performance.  Thus, the Bonus will be pro-rated on a time basis (up to the date of Termination) and a performance basis (using the results up to the date of Termination of the Executive’s Annual Goals and Objective for such year as a percentage of the same Annual Goals and Objectives adjusted for the pro-rated time period). In no event will the results of such performance proration result in a bonus (i) greater than the Executive would have received on a time proration basis only, nor (ii) less than an amount equal to 50% of the time pro-rated amount.   An example of such pro-rata Bonus computation is attached as Exhibit B.  In addition the Company will pay the Executive’s health premiums under COBRA for six (6) months and will pay dental/vision premiums under COBRA for eighteen (18) months; provided, however, that Company’s obligations to pay for COBRA benefits shall cease immediately upon Executive becoming employed or obtaining other health insurance coverage.  
 
(g)    Resignation for Good Reason.  Upon the occurrence of a Resignation for Good Reason, and subject to his execution of a release of claims in favor of the Company, its affiliates, and their respective officers and directors in the form attached hereto as Exhibit “C” (the “Release”) and the Release becoming effective within thirty (30) days following the Termination Date, as severance pay and in lieu of damages for breach of this Agreement, in the event that the Termination of this Agreement occurs, the Company shall pay to Executive, in the aggregate, a lump sum equal to six months base salary then in effect, less applicable state and federal withholdings.  Such lump sum shall be paid six months after Executive’s Resignation for Good Reason, as the case may be, or shall be paid at such earlier time as permitted by Section 409A of the Code.  

(h)    All payments provided in this Section 7 shall be paid in cash from the general funds of the Company, and no special or separate fund need be established and no other segregation of assets need be made to assure payment.  Bancorp shall have no obligation under this Agreement to make any payments to Executive and Executive agrees that all payments under this Agreement, including this Section 7, shall be the sole responsibility of the Company.

(i)    The Company and Executive agree that the payments being made under this Agreement represent reasonable compensation for services and that 
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neither the Company nor Executive will file any returns or reports which take a contrary position.

(j)    The receipt of the amounts described in this Section 7, if any, shall constitute Executive’s sole remedy for breach of this Agreement against the Company and its officers, directors, employees and agents.

(k)    Limitation of Payment.  This Agreement, and any payments or benefits hereunder (including the indemnification benefits provided for in Section 12), are made expressly subject to and conditioned upon compliance with all federal and state law, regulations and policies relating to the subject matter of this Agreement, including but not limited to the provisions of law codified at 12 U.S.C. §1828(k), the regulations of the FDIC codified as 12 C.F.R. Part 359, and any successor or similar federal or state law or regulation applicable to the Company.  Executive acknowledges that he understands the sections of law and regulations cited above and that the Company’s obligations to make payments hereunder are expressly relieved if such payments violate any federal or state law or regulation applicable to the Company.

8.    Limitation of Benefit/Golden Parachute Adjustment.   Notwithstanding anything in the foregoing to the contrary, if any payments provided for in this Agreement, together with any other payments which Executive has the right to receive from the Company would constitute a “parachute payment” (as defined in Section 280G(b)(2) of the Code), the payments pursuant to this Agreement shall be reduced to the largest amount as will result in no portion of such payments being subject to the excise tax imposed by Section 4999 of the Code, provided, however, that the determination as to whether any reduction in the payments under this Agreement pursuant to this proviso is necessary shall be made in good faith by the firm providing tax services to the Company, and such determination shall be conclusive and binding on the Company and Executive with respect to the treatment of the payment for tax reporting purposes.
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9.Confidentiality, Non-Solicitation and Non-Interference.

(a)    Executive agrees and covenants to take all reasonable steps necessary to protect all Confidential Information from disclosure to, or use by, any unauthorized person or entity.

(b)    Executive agrees to return all Confidential Information to Company upon Termination.

(c)    Executive agrees that he shall not at any time, directly or indirectly, take any action that will or may have the effect of discouraging any past or present client, customer, supplier, service provider, licensee, licensor, business prospect, or other business associate of Company (collectively “Client(s) and/or Associate(s)”) from entering into or maintaining, or causing any Client or Associate to terminate or cease, a relationship with Company, or which would in any other way, directly or indirectly, disrupt, damage, impair, or interfere with the business or contractual relations of Company with its Clients or Associates. 

(d)    To safeguard Company’s Confidential Information and the relationships Company has developed with its Clients and Associates and employees over many years and with great expense, Executive covenants and agrees that he will not at any time during Executive’s employment, or within twelve (12) months following termination of employment, directly or indirectly, whether on his own behalf or on behalf of any other person or entity, solicit the business of any current Client or Associate, or employee of Company, other than for the sole and exclusive benefit of Company. Executive expressly acknowledges and agrees that this non-solicitation clause is necessary and appropriate to protect the legitimate business interests and Confidential Information of Company.

(e)    If Executive learns or has been notified that a Client or Associate has been solicited, either intentionally or unintentionally, by Executive during the term of this Agreement or within twelve (12) months following Executive’s termination of employment, Executive agrees to refrain from accepting or doing any business with said solicited Client or Associate for a period of twelve (12) months from the date of the solicitation.
    
    10.      Waivers not to be Continued. Any waiver by a party of any breach of this Agreement by the other party shall not be construed as a continuing waiver or as consent to any subsequent breach by the other party.

    11.        Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered by hand or mailed, certified or registered mail, with postage prepaid, to the following addresses or to such other address as either party may designate by like notice.

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        A.    If to the Company, to:

            Bank of Marin Bancorp
                504 Redwood Blvd., #100
            Novato, CA  94947
            Facsimile: 415/884-9153

            with a copy to:

            Kenneth E. Moore, Esq.
            STUART | MOORE | STAUB
            641 Higuera Street
            Suite 302
            San Luis Obispo, California 93401
            Facsimile: 805/545-8599

        B.    If to Executive, to:

            Timothy Myers
            504 Redwood Blvd., #100
            Novato, CA 94947
            Facsimile: 415/884-9153

and to such other or additional person or persons as either party shall have designated to the other party in writing by like notice.
    
    12.    Arbitration. The parties agree that any and all disputes, controversies or claims of any kind or nature, including but not limited to any arising out of or in any way related to Executive’s employment with or separation from the Company, shall be submitted to binding arbitration under the auspices and rules of the American Arbitration Association (“AAA”) in Marin County, California.  Included within this provision are any claims alleging fraud in the inducement of this Agreement, or relating to the general validity or enforceability of this Agreement, or claims based on a violation of any local, state or federal law, such as claims for discrimination or civil rights violations under Title VII of the Civil Rights Act of 1964, the California Fair Employment and Housing Act, the Age Discrimination in Employment Act and the Americans with Disabilities Act.  The parties shall each bear their own costs and attorneys’ fees incurred in conducting the arbitration and, except for such disputes where Executive asserts a claim under a state or federal statute prohibiting discrimination in employment (“a Statutory Claim”), or unless required otherwise by applicable law, shall split equally the fees and administrative costs charged by the arbitrator and AAA.  In disputes where Executive asserts a Statutory Claim against the Company, Executive shall be required to pay only the AAA filing fee to the extent such filing fee does not exceed the fee to file a complaint in state or federal court.  The Company shall pay the balance of the arbitrator’s fees and administrative costs.  The prevailing party in the arbitration, as determined by the arbitrator, shall be entitled to recover his or its reasonable attorneys’ fees and costs, including the costs or fees charged by the arbitrator 
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and AAA.  In disputes where the Executive asserts a Statutory Claim, reasonable attorneys’ fees shall be awarded by the arbitrator based on the same standard as such fees would be awarded if the Statutory Claim had been asserted in state or federal court.  Judgment upon an award rendered by the arbitrator may be entered in any competent court having jurisdiction over the dispute. Executive understands that arbitration is in lieu of any and all other civil legal proceedings and that he is waiving any right he may have to resolve disputes through court or trial by jury.
    
    13.      General Provisions.

(a)    Except for the Change of Control Agreement, this Agreement constitutes the entire agreement by the parties with respect to the subject matter hereof, and supersedes and replaces all prior agreements among or between the parties, unless otherwise provided herein. No amendment, waiver or termination of any of the provisions hereof shall be effective unless in writing and signed by the party against whom it is sought to be enforced. Any written amendment, waiver, or termination hereof executed by the Company and Executive shall be binding upon them and upon all other Persons, without the necessity of securing the consent of any other Person, and no Person shall be deemed to be a third-party beneficiary under this Agreement.

(b)    This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same Agreement.

(c)    Except as otherwise expressly set forth herein, no failure on the part of any party hereto to exercise and no delay in exercising any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right, power or remedy.

(d)     The headings of the Sections of this Agreement have been inserted for convenience of reference only and shall in no way restrict or modify any of the terms or provisions hereof.

(e)    If for any reason any provision of this Agreement is held invalid or unenforceable, such invalidity or unenforceability shall not affect the validity or enforceability of any other provision of this Agreement. If any provision of this Agreement shall be held invalid or unenforceable in part, such invalidity or unenforceability shall in no way effect the rest of such provision not held so invalid, and the rest of such provision, together with all other provisions of this Agreement, shall to the full extent consistent with law continue in full force and effect.

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(f)    This Agreement shall be governed and construed and the legal relationships of the parties determined in accordance with the laws of the State of California applicable to contracts executed and to be performed solely in the State of California.

(g)    The Company shall require any successor in interest (whether direct or indirect or as a result of purchase, merger, consolidation, change in control or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform the obligations under this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.

(h)    Executive acknowledges that he has been encouraged to consult with legal counsel of Executive’s choosing concerning the terms of this Agreement prior to executing this Agreement. Executive acknowledges that this Agreement has been prepared by Reitner, Stuart & Moore, which has served as counsel to the Company in this matter and not as counsel to Executive.  Any failure by Executive to consult with competent counsel prior to executing this Agreement shall not be a basis for rescinding or otherwise avoiding the binding effect of this Agreement. The parties acknowledge that they are entering into this Agreement freely and voluntarily, with full understanding of the terms of this Agreement. Interpretation of the terms and provisions of this Agreement shall not be construed for or against either party on the basis of the identity of the party who drafted the terms or provisions in question.

    IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

						
	ATTEST:

____________________________

____________________________
Witness
	BANK OF MARIN 

/s/ Brian M. Sobel                            
By: Brian M. Sobel                           
Its: Chairman of the Board                
    
THE EXECUTIVE

/s/ Timothy D. Myers                       

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EXHIBIT A

     

In addition to such responsibilities, duties and authority set forth in the Articles of Incorporation and Bylaws of Bank and the Articles of Incorporation and Bylaws of Bancorp and as are generally associated with the positions of President and Chief Executive Officer, Executive will be expected to (i) plan, develop, and direct operational and financial policies and practices to ensure that the Company’s objectives, goals, and institutional growth are met and are in accordance with the polices of the Board of Directors and government regulations and (ii) plan and develop investment, loan, interest, and reserve policies to ensure optimum monetary returns in accordance with availability of investment funds, government restrictions, and sound financial practices.  In addition, the Executive will serve on the Board of Directors of the Bank of Marin and Bank of Marin Bancorp.

    With the prior approval of the Board, from time to time, Executive may serve, or continue to serve, on the boards of directors of, and hold any other offices or positions in charitable, political,  civic organizations or business entities, which, in such Board’s judgment, will not present any material conflict of interest with the Company and will not unfavorably affect the performance of Executive’s duties pursuant to this Agreement. Any such approval shall not be unreasonably withheld.   Subject to the provisions of the Bank’s code of conduct, nothing contained herein will be deemed to limit the ability of Executive to make passive investments.  

    In addition, to the extent permitted by law and consistent with the oversight responsibilities of the Board, Executive shall have the full authority and support of the Board to hire and fire all officers and employees of the Company from time to time.  

    Further, Executive shall have the full authority of the Company and the Board to execute contracts, leases and other related documents for the purchase of capital equipment and improvements, provided such expenditures and obligations are contained in and within the annual budget for the Company, which has been adopted or approved by the Board.  
A-1

EXHIBIT B

Pro-Rata Bonus Example

Example section 7. (a) & (b)

Event date April 6th

(current salary $475,000) x (bonus Target 65%) = (bonus potential at Target
$308,750)

$308,750 x (time prorated period 96/365 days 26.3%) = $81,205

Example section 7. (f) 

Example 1

Event date April 6th

(current salary $475,000) x (bonus Percent 65%) = (bonus potential at Target

$308,750) x (time prorated period 96/365 days 26.3%) = (time prorated bonus $81,205) x 

(performance measurement for the prorated time period 88% = 88%) = $71,461 

Example 2

Event date April 6th

(current salary $475,000) x (bonus Target 65%) = (bonus potential at target

$308,750) x (time prorated period 96/365 days 26.3%) = (time prorated bonus $81,205) x 

(performance measurement for the prorated time period 38% = 50%) = $40,603

B-1

EXHIBIT C

Form of Release Agreement
C-1

WAIVER AND RELEASE AGREEMENT

This Waiver and Release Agreement (“Agreement”) is made as of the date last written below, by and between Bank of Marin and Bank of Marin Bancorp (collectively, “Employer”) and Timothy Myers (“Employee”).  This Agreement is made with specific reference to the following facts:
RECITALS

A.Employer and Employee have entered into an Employment Agreement dated [*], 2021. 
B.A condition precedent to certain of Employer’s obligations under the Employment Agreement is the Employee’s execution of this Agreement upon termination of Employee’s employment.
C.Employee is not entitled to receive severance pay or any additional termination benefits from Employer, other than as set forth in the Employment Agreement and a Change in Control Agreement.  
Waiver and Release

NOW, THEREFORE, for and in consideration of the foregoing Recitals, and the mutual covenants, agreements and considerations set forth below, the sufficiency of which are hereby agreed, the parties, intending to be legally bound, agree as follows:
In consideration of this Agreement and the consideration extended to Employee under the Employment Agreement which is conditioned upon Employee’s execution of this Agreement, Employee does hereby for himself, his administrators, agents, successors-in-interest and assigns, fully and forever release and discharge Employer, its shareholders, directors, officers, employees, attorneys and agents, and each of them, of and from any and all promises, agreements, claims, demands, actions, causes of action, losses and expenses of every nature whatsoever known or unknown, suspected or unsuspected, filed or unfiled, against them by reason of any occurrences or any damages or injuries in any way sustained by Employee at any time prior to and including the date of this Agreement, including, but not limited to, any and all claims or causes of action arising from his employment by Employer or the termination of his employment with Employer.
Employee expressly acknowledges and agrees that this Agreement releases claims that include, but are not limited to: breach of contract (express or implied); intentional infliction of emotional harm; wrongful discharge; defamation or other tort claims; attorneys’ fees or court costs; claims arising out of:  Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. 2000(e) et seq. (Title VII); the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. Section 621 et seq. (“ADEA”); the Older Workers Benefit Protection Act (“OWBPA”); 
C-2

the California Fair Employment and Housing Act, Part 2.8 Division 3, Title 2 of the Government Code, Section 12900-12996 (FEHA); the Rehabilitation Act of 1973, as amended, Section 1981 of Title 42 of the United States Code; Labor Code Section 1102.1; or any other federal, state, or municipal statute, ordinance or common-law theory relating to wrongful employment termination, breach of contract, breach of fiduciary duty, discrimination in employment or unfair employment practices.
Employee hereby releases Employer from any unknown or unanticipated damages arising from the matters set forth in this Agreement.  Employee acknowledges that he is familiar with, and hereby waives, all rights recognized by the provisions of Section 1542 of the California Civil Code, which provides as follows:
“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH, IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”
Being thus familiar and aware, Employee expressly waives the effects of Civil Code Section 1542, as well as any analogous state or federal statute or regulation.  Thus, notwithstanding the provisions of Civil Code Section 1542, and for the purpose of effecting a full and complete release, Employee expressly acknowledges that this Agreement is intended to include in its effect, without limitation, any and all claims or causes of action which Employee may now have or did have, including claims or causes of action he does not know of or suspect to exist in his favor as of the Effective Date of this Agreement, and that this Agreement contemplates that all such claims and causes of action will be extinguished.  The parties hereby acknowledge and agree that this release does not waive any future claims the Employee may have.
This Agreement shall become effective on the 8th calendar day after the date of execution by Employee (the “Effective Date”).  In all events, however, this Agreement must have been executed by Employee and delivered to Employer no later than 5:00 p.m. on [expiration date – to be 30 days after termination of employment].  Thereafter, this Agreement shall be deemed withdrawn by Employer and shall no longer be capable of acceptance or execution by Employee.  
In express consideration for Employee’s voluntary execution and delivery of this Agreement, Employer shall pay to Employee those benefits set forth in the Employment Agreement and Employee shall remain bound by the terms of the Employment Agreement which survive termination of employment, including but not limited to Section 9 thereof.
Employee acknowledges that, but for this Agreement, he would not be entitled to the benefits set forth in the Employment Agreement.
C-3

Employee is advised to review this Agreement and its terms with an attorney and any other advisors of his choice.  Employee represents that he understands all terms and conditions of this Agreement completely and executes this Agreement voluntarily, without any inducements, promises, or representations made by Employer or any person purporting to represent or serve Employer, except as stated in this Agreement.
The following miscellaneous provisions shall apply to this Agreement:
This Agreement and any other documents referred to herein shall in all respects be interpreted, enforced and governed by and under the laws of the State of California.  The language of this Agreement shall be construed as a whole according to its fair meaning, and not strictly for or against any of the parties.
This Agreement contains all of the understandings and agreements of whatsoever kind and nature existing between the parties with respect to the matters addressed herein.  This Agreement may only be amended by a written agreement signed by the parties hereto.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same agreement.
Each party executing this Agreement has full authority, mental capacity and power to do so, and no further actions are otherwise necessary to bind himself to it.
If any provision of this Agreement or the application of such provision to any person or circumstance shall be held invalid by a court of competent jurisdiction, the remainder of this Agreement or the application of such provision to persons or circumstances other than those to which this Agreement is held invalid shall not be affected thereby.  The parties hereto agree that each provision of this Agreement is a material provision and that failure of any party to perform any one provision hereof shall be the basis of the voiding of the entire Agreement at the option of the other party, or for pursuing an action at law for such breach.  Any party may waive or excuse the failure of any other party to perform any provision of this Agreement; provided, however, that any such waiver shall not preclude the enforcement of this Agreement upon any subsequent breach.  The parties further agree that in the event a court of competent jurisdiction finds any of the provisions of this Agreement to be unenforceable, it is the parties’ intent that such provisions be reduced in scope by the court, but only to the extent being necessary by the court to render the provision reasonable and enforceable.
Each of the parties agrees to execute any and all further agreements or documents necessary to effectuate the intent and purposes of this Agreement.
All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine or neuter, singular or plural, as the identity of the person, persons or entities may require.
C-4

The provisions of this Agreement shall be deemed to obligate, extend to and inure to the benefit of the successors, assigns, transferees, grantees and indemnities of the parties.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date designated below their signatures.

						
	“EMPLOYEE”

_________________________________    
Name: Timothy Myers
Dated: ___________________________    
	“EMPLOYER”
BANK OF MARIN

By: _____________________________    
Title: ____________________________    
Dated: ___________________________    *
    
BANK OF MARIN BANCORP

By: _____________________________    
Title: ____________________________    
Dated:                         *

* No sooner than seven calendar (7) days after the Employee’s signature

C-5EX-4.6

 Exhibit 4.6 

SUNOCO LP and 
 SUNOCO
FINANCE CORP., 
 as Issuers, 

THE GUARANTORS PARTY HERETO 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee 
  

 
 FORM OF
INDENTURE 
 Dated as of __________, 20___ 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 Article 1 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	 
			
	 Section 1.1
	 	Definitions	  	 	1	 
	 Section 1.2
	 	Other Definitions	  	 	5	 
	 Section 1.3
	 	Incorporation by Reference of Trust Indenture Act	  	 	5	 
	 Section 1.4
	 	Rules of Construction	  	 	6	 
		
	 Article 2 THE SECURITIES
	  	 	6	 
			
	 Section 2.1
	 	Issuable in Series	  	 	6	 
	 Section 2.2
	 	Establishment of Terms of Series of Securities	  	 	6	 
	 Section 2.3
	 	Execution and Authentication	  	 	9	 
	 Section 2.4
	 	Registrar and Paying Agent	  	 	9	 
	 Section 2.5
	 	Paying Agent to Hold Money in Trust	  	 	10	 
	 Section 2.6
	 	Securityholder Lists	  	 	10	 
	 Section 2.7
	 	Transfer and Exchange	  	 	10	 
	 Section 2.8
	 	Mutilated, Destroyed, Lost and Stolen Securities	  	 	11	 
	 Section 2.9
	 	Outstanding Securities	  	 	11	 
	 Section 2.10
	 	Treasury Securities	  	 	12	 
	 Section 2.11
	 	Temporary Securities	  	 	12	 
	 Section 2.12
	 	Cancellation	  	 	12	 
	 Section 2.13
	 	Defaulted Interest	  	 	12	 
	 Section 2.14
	 	Global Securities	  	 	13	 
	 Section 2.15
	 	CUSIP Numbers	  	 	13	 
		
	 Article 3 REDEMPTION
	  	 	15	 
			
	 Section 3.1
	 	Notice to Trustee	  	 	15	 
	 Section 3.2
	 	Selection of Securities to be Redeemed	  	 	15	 
	 Section 3.3
	 	Notice of Redemption	  	 	15	 
	 Section 3.4
	 	Effect of Notice of Redemption	  	 	16	 
	 Section 3.5
	 	Deposit of Redemption Price	  	 	16	 
	 Section 3.6
	 	Securities Redeemed in Part	  	 	16	 
		
	 Article 4 COVENANTS
	  	 	17	 
			
	 Section 4.1
	 	Payment of Principal and Interest	  	 	17	 
	 Section 4.2
	 	SEC Reports	  	 	17	 
	 Section 4.3
	 	Compliance Certificate	  	 	17	 
	 Section 4.4
	 	Stay, Extension and Usury Laws	  	 	17	 
		
	 Article 5 SUCCESSORS
	  	 	18	 
			
	 Section 5.1
	 	When Issuers May Merge, Etc.	  	 	18	 
	 Section 5.2
	 	Successor Person Substituted	  	 	18	 
		
	 Article 6 DEFAULTS AND REMEDIES
	  	 	18	 
			
	 Section 6.1
	 	Events of Default	  	 	18	 

  
 i 

							
	 Section 6.2
	 	Acceleration of Maturity; Rescission and Annulment	  	 	20	 
	 Section 6.3
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	20	 
	 Section 6.4
	 	Trustee May File Proofs of Claim	  	 	21	 
	 Section 6.5
	 	Trustee May Enforce Claims Without Possession of Securities	  	 	22	 
	 Section 6.6
	 	Application of Money Collected	  	 	22	 
	 Section 6.7
	 	Limitation on Suits	  	 	22	 
	 Section 6.8
	 	Unconditional Right of Holders to Receive Principal and Interest	  	 	23	 
	 Section 6.9
	 	Restoration of Rights and Remedies	  	 	23	 
	 Section 6.10
	 	Rights and Remedies Cumulative	  	 	23	 
	 Section 6.11
	 	Delay or Omission Not Waiver	  	 	23	 
	 Section 6.12
	 	Control by Holders	  	 	24	 
	 Section 6.13
	 	Waiver of Past Defaults	  	 	24	 
	 Section 6.14
	 	Undertaking for Costs	  	 	24	 
		
	 Article 7 TRUSTEE
	  	 	25	 
			
	 Section 7.1
	 	Duties of Trustee	  	 	25	 
	 Section 7.2
	 	Rights of Trustee	  	 	26	 
	 Section 7.3
	 	Individual Rights of Trustee	  	 	27	 
	 Section 7.4
	 	Trustee’s Disclaimer	  	 	27	 
	 Section 7.5
	 	Notice of Defaults	  	 	27	 
	 Section 7.6
	 	Reports by Trustee to Holders	  	 	28	 
	 Section 7.7
	 	Compensation and Indemnity	  	 	28	 
	 Section 7.8
	 	Replacement of Trustee	  	 	28	 
	 Section 7.9
	 	Successor Trustee by Merger, Etc.	  	 	29	 
	 Section 7.10
	 	Eligibility; Disqualification	  	 	29	 
	 Section 7.11
	 	Preferential Collection of Claims Against Issuers	  	 	30	 
		
	 Article 8 SATISFACTION AND DISCHARGE; DEFEASANCE
	  	 	30	 
			
	 Section 8.1
	 	Satisfaction and Discharge of Indenture	  	 	30	 
	 Section 8.2
	 	Application of Trust Funds; Indemnification	  	 	31	 
	 Section 8.3
	 	Legal Defeasance of Securities of any Series	  	 	32	 
	 Section 8.4
	 	Covenant Defeasance	  	 	33	 
	 Section 8.5
	 	Repayment to Issuers	  	 	34	 
	 Section 8.6
	 	Reinstatement	  	 	34	 
		
	 Article 9 AMENDMENTS AND WAIVERS
	  	 	35	 
			
	 Section 9.1
	 	Without Consent of Holders	  	 	35	 
	 Section 9.2
	 	With Consent of Holders	  	 	36	 
	 Section 9.3
	 	Limitations	  	 	36	 
	 Section 9.4
	 	Compliance with Trust Indenture Act	  	 	37	 
	 Section 9.5
	 	Revocation and Effect of Consents	  	 	37	 
	 Section 9.6
	 	Notation on or Exchange of Securities	  	 	37	 
	 Section 9.7
	 	Trustee Protected	  	 	37	 
		
	 Article 10 GUARANTEES
	  	 	38	 
			
	 Section 10.1
	 	Unconditional Guarantee	  	 	38	 
	 Section 10.2
	 	Execution and Delivery of Notation of Guarantee	  	 	39	 

  
 ii 

							
	 Section 10.3
	 	Limitation on Guarantors’ Liability	  	 	39	 
	 Section 10.4
	 	Release of Guarantors from Guarantee	  	 	39	 
	 Section 10.5
	 	Mutilated, Destroyed, Lost and Stolen Notations of Guarantee	  	 	40	 
		
	 Article 11 SINKING FUNDS
	  	 	40	 
			
	 Section 11.1
	 	Applicability of Article	  	 	40	 
	 Section 11.2
	 	Satisfaction of Sinking Fund Payments with Securities	  	 	41	 
	 Section 11.3
	 	Redemption of Securities for Sinking Fund	  	 	41	 
		
	 Article 12 MISCELLANEOUS
	  	 	41	 
			
	 Section 12.1
	 	Trust Indenture Act Controls	  	 	41	 
	 Section 12.2
	 	Notices	  	 	42	 
	 Section 12.3
	 	Communication by Holders with Other Holders	  	 	43	 
	 Section 12.4
	 	Certificate and Opinion as to Conditions Precedent	  	 	43	 
	 Section 12.5
	 	Statements Required in Certificate or Opinion	  	 	43	 
	 Section 12.6
	 	Rules by Trustee and Agents	  	 	43	 
	 Section 12.7
	 	Legal Holidays	  	 	44	 
	 Section 12.8
	 	No Recourse Against Others	  	 	44	 
	 Section 12.9
	 	Counterparts	  	 	44	 
	 Section 12.10
	 	Governing Laws	  	 	44	 
	 Section 12.11
	 	No Adverse Interpretation of Other Agreements	  	 	44	 
	 Section 12.12
	 	Successors	  	 	44	 
	 Section 12.13
	 	Severability	  	 	44	 
	 Section 12.14
	 	Table of Contents, Headings, Etc.	  	 	44	 
	 Section 12.15
	 	Securities in a Foreign Currency	  	 	44	 
	 Section 12.16
	 	Waiver of Jury Trial	  	 	45	 
	 Section 12.17
	 	Force Majeure	  	 	45	 
	 Section 12.18
	 	Patriot Act	  	 	45	 
	 Section 12.19
	 	Act of Holders	  	 	45	 
	 Section 12.20
	 	Judgment Currency	  	 	47	 

  
 iii 

 SUNOCO LP 

SUNOCO FINANCE CORP. 

Reconciliation and tie between Trust Indenture Act of 1939 and 

Indenture, dated as of ____________, 20___ 
  

					
	 § 310(a)(1)
	  	 	7.10	 
	 (a)(2)
	  	 	7.10	 
	 (a)(3)
	  	 	Not Applicable	 
	 (a)(4)
	  	 	Not Applicable	 
	 (a)(5)
	  	 	7.10	 
	 (b)
	  	 	7.10	 
	 § 311(a)
	  	 	7.11	 
	 (b)
	  	 	7.11	 
	 § 312(a)
	  	 	2.6	 
	 (b)
	  	 	12.3	 
	 (c)
	  	 	12.3	 
	 § 313(a)
	  	 	7.6	 
	 (b)(1)
	  	 	7.6	 
	 (b)(2)
	  	 	7.6	 
	 (c)(1)
	  	 	7.6	 
	 (d)
	  	 	7.6	 
	 § 314(a)
	  	 	4.2, 12.5	 
	 (b)
	  	 	Not Applicable	 
	 (c)(1)
	  	 	12.4	 
	 (c)(2)
	  	 	12.4	 
	 (c)(3)
	  	 	Not Applicable	 
	 (d)
	  	 	Not Applicable	 
	 (e)
	  	 	12.5	 
	 (f)
	  	 	Not Applicable	 
	 § 315(a)
	  	 	7.1	 
	 (b)
	  	 	7.5	 
	 (c)
	  	 	7.1	 
	 (d)
	  	 	7.1	 
	 (e)
	  	 	6.14	 
	 § 316(a)
	  	 	2.10	 
	 (a)(1)(A)
	  	 	6.12	 
	 (a)(1)(B)
	  	 	6.13	 
	 (b)
	  	 	6.8	 
	 § 317(a)(1)
	  	 	6.3	 
	 (a)(2)
	  	 	6.4	 
	 (b)
	  	 	2.5	 
	 § 318(a)
	  	 	12.1	 

  
 Note: This
reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture. 

  
 iv 

 Indenture dated as of
                , 20     among Sunoco LP, a Delaware limited partnership, Sunoco Finance Corp., a Delaware corporation, the Guarantors (as defined
herein) party hereto and U.S. Bank National Association, a national banking association, not in its individual capacity but solely as Trustee (as defined herein). 

Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of the Securities
issued under this Indenture. 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.1 Definitions. 

“Additional Amounts” means any additional amounts which are required hereby or by any Security, under circumstances
specified herein or therein, to be paid by the Issuers in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such Holders. 

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

“Board of Directors” means (a) with respect to the Partnership, the board of directors of the general partner of
the Partnership or any duly authorized committee thereof, and (b) with respect to Finance Corp, the board of directors of Finance Corp or any duly authorized committee thereof. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the general
partner of the Partnership or Finance Corp., as the case may be, to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to
the Trustee. 
 “Business Day” means, unless otherwise provided by Board Resolution, Officer’s Certificate or
supplemental indenture hereto for a particular Series, any day except a Saturday, Sunday or a legal holiday in The City of New York (or in connection with any payment, the place of payment) on which banking institutions are authorized or required by
law, regulation or executive order to close. 
 “Capital Stock” means (a) in the case of a corporation,
corporate stock; (b) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated and whether or not voting) of corporate stock, including each class of common
stock and preferred stock of such person; and (c) in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited). 

 “Corporate Trust Office” means the principal office of the Trustee
at which at any time its corporate trust business shall be administered, which office at the date hereof is located at the address set forth in Section 12.2, or such other address as the Trustee may designate from time to
time by notice to the Holders and the Issuers, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the Holders and the Issuers). 

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

“Depositary” means, with respect to the Securities of any Series issuable or issued in whole or in part in the form of
one or more Global Securities, the person designated as Depositary for such Series by the Issuers, which Depositary shall be a clearing agency registered under the Exchange Act; and if at any time there is more than one such person,
“Depositary” as used with respect to the Securities of any Series shall mean the Depositary with respect to the Securities of such Series. 

“Discount Security” means any Security that provides for an amount less than the stated principal amount thereof to be
due and payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2. 

“Dollars” and “$” means the currency of The United States of America. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Finance Corp” means Sunoco Finance Corp., a Delaware corporation, until a successor replaces it and thereafter means
the successor. 
 “Foreign Currency” means any currency or currency unit issued by a government other than the
government of The United States of America. 
 “Foreign Government Obligations” means, with respect to Securities of
any Series that are denominated in a Foreign Currency, direct obligations of, or obligations guaranteed by, the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged and
which are not callable or redeemable at the option of the issuer thereof. 
 “GAAP” means accounting principles
generally accepted in the United States of America set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect as of the date of determination. 

  
 2 

 “Global Security” or “Global Securities”
means a Security or Securities, as the case may be, in the form established pursuant to Section 2.2 evidencing all or part of a Series of Securities, issued to the Depositary for such Series or its nominee, and registered
in the name of such Depositary or nominee. 
 “Guarantor” means each person that executes this Indenture as a
guarantor and its respective successors and assigns, in each case until the Guarantee of such person has been released in accordance with the provisions of this Indenture; provided, that such person shall be a Guarantor only with
respect to a Series of Securities for which such person has executed a Notation of Guarantee with respect to such Series. 

“Holder” or “Securityholder” means a person in whose name a Security is registered. 

“Indenture” means this Indenture as amended or supplemented from time to time and shall include the form and terms of
particular Series of Securities established as contemplated hereunder. 
 “interest” with respect to any Discount
Security which by its terms bears interest only after Maturity, means interest payable after Maturity. 
 “Issuers”
means the Partnership and Finance Corp; provided, however, that if Finance Corp is not an Issuer of Securities of any Series established under Section 2.2, then “Issuers” means the
Partnership with respect to such Securities. 
 “Issuer Order” means a written order signed in the name of each of
the Issuers by an Officer or Officers. 
 “Issuer Request” means a written request signed in the name of each of the
Issuers by an Officer or Officers. 
 “Maturity,” when used with respect to any Security, means the date on which
the principal of such Security becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

“Notation of Guarantee” means a notation, substantially in the form of Exhibit A, executed by a Guarantor and affixed
to each Security of any Series to which the Guarantee of such Guarantor under Article 12 applies. 

“Officer” means the Chief Executive Officer, the Chief Financial Officer, the President, any Vice President, the
Treasurer, the Secretary, any Assistant Treasurer or any Assistant Secretary of (a) the general partner of the Partnership, or (b) Finance Corp, as applicable. 

“Officer’s Certificate” means a certificate signed on behalf of each of the Issuers by an Officer or Officers.

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

  
 3 

 “Partnership” means Sunoco LP, a Delaware limited partnership, until
a successor replaces it and thereafter means the successor; provided, however, that, for purposes of any provision contained herein which is required by the TIA, “Partnership” shall also mean each other obligor
(if any), other than a Guarantor, of a Series of Securities. 
 “person” means any individual, corporation,
partnership, joint venture, association, limited liability company, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 

“principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any
Additional Amounts in respect of, the Security. 
 “Responsible Officer” means any officer of the Trustee in its
Corporate Trust Office having responsibility for administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer of the Trustee to whom any corporate trust matter is referred because of his or
her knowledge of and familiarity with a particular subject and who shall have direct responsibility for the administration of this Indenture. 

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

“Securities” means the debentures, notes or other debt instruments of the Issuers of any Series authenticated and
delivered under this Indenture. 
 “Series” or “Series of Securities” means each series of
debentures, notes or other debt instruments of the Issuers created pursuant to Sections 2.1 and 2.2 hereof. 

“Stated Maturity” when used with respect to any Security, means the date specified in such Security as the fixed date
on which the principal of such Security or interest is due and payable. 
 “Subsidiary” of any specified person
means any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time owned or controlled, directly or indirectly, by such person or one or more of the other Subsidiaries of that person or a combination thereof. 

“TIA” means the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) as in effect on the date of this
Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any such amendment, the Trust Indenture Act as so amended. 

“Trustee” means the person named as the “Trustee” in the first paragraph of this instrument until a
successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each person who is then a Trustee hereunder, and if at any time there is more than one such
person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series. 

  
 4 

 “U.S. Government Obligations” means securities which are direct
obligations of, or guaranteed by, The United States of America for the payment of which its full faith and credit is pledged and which are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt
issued by a bank or trust company as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a
depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the
U.S. Government Obligation evidenced by such depositary receipt. 
 Section 1.2 Other Definitions. 

 

					
	 Term
	  	Defined in Section	 
	 Bankruptcy Law”
	  	 	6.1	 
	 “Custodian”
	  	 	6.1	 
	 “Event of Default”
	  	 	6.1	 
	 “Guarantee”
	  	 	10.1	(b) 
	 “Judgment Currency”
	  	 	12.20	 
	 “Legal Holiday”
	  	 	12.7	 
	 “mandatory sinking fund payment”
	  	 	11.1	 
	 “New York Banking Day”
	  	 	12.20	 
	 “Notice Agent”
	  	 	2.4	 
	 “optional sinking fund payment”
	  	 	11.1	 
	 “Paying Agent”
	  	 	2.4	 
	 “Registrar”
	  	 	2.4	 
	 “Required Currency”
	  	 	12.20	 
	 “successor person”
	  	 	5.1	 

 Section 1.3 Incorporation by Reference of Trust Indenture Act. Whenever this Indenture
refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings: 

“Commission” means the SEC. 

“indenture securities” means the Securities. 

“indenture security holder” means a Securityholder. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligors” on the indenture securities means the Issuers and any successor obligor upon the Securities. 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under
the TIA and not otherwise defined herein are used herein as so defined. 

  
 5 

 Section 1.4 Rules of Construction. Unless the context otherwise requires:

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

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

(c) “or” is not exclusive; 

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

(e) provisions apply to successive events and transactions. 

ARTICLE 2 
 THE
SECURITIES 
 Section 2.1 Issuable in Series. The aggregate principal amount of Securities that may be
authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of a Series shall be identical except as may be set forth or determined in the manner provided in a Board Resolution, a
supplemental indenture or an Officer’s Certificate detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution. In the case of Securities of a Series to be issued from time to time, the Board Resolution,
Officer’s Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record
date or date from which interest shall accrue) are to be determined. Securities may differ between Series in respect of any matters, provided that all Series of Securities shall be equally and ratably entitled to the benefits of the
Indenture. 
 Section 2.2 Establishment of Terms of Series of Securities. At or prior to the issuance of any Securities
within a Series, the following shall be established (as to the Series generally, in the case of Subsection Section 2.2.1 and either as to such Securities within the Series or as to the Series generally in the case of
Subsections 2.2.2 through 2.2.24) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate: 

Section 2.2.1 the title (which shall distinguish the Securities of that particular Series from the Securities of any other Series) and
ranking (including the terms of any subordination provisions) of the Series; 
 Section 2.2.2 the price or prices (expressed as a
percentage of the principal amount thereof) at which the Securities of the Series will be issued; 
 Section 2.2.3 any limit upon the
aggregate principal amount of the Securities of the Series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other
Securities of the Series pursuant to Sections 2.7, 2.8, 2.11, 3.6 or 9.6); 

  
 6 

 Section 2.2.4 the date or dates on which the principal of the Securities of the Series
is payable; 
 Section 2.2.5 the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to
determine such rate or rates (including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if
any, shall accrue, the date or dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date; 

Section 2.2.6 the place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where
the Securities of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Issuers in respect of the Securities of such Series and this Indenture may be delivered, and the method of such
payment, if by wire transfer, mail or other means; 
 Section 2.2.7 if applicable, the period or periods within which, the price or
prices at which and the terms and conditions upon which the Securities of the Series may be redeemed, in whole or in part, at the option of the Issuers; 

Section 2.2.8 the obligation, if any, of the Issuers to redeem or purchase the Securities of the Series pursuant to any sinking fund or
analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the Series shall be redeemed or purchased, in whole or in part,
pursuant to such obligation; 
 Section 2.2.9 the dates, if any, on which and the price or prices at which the Securities of the Series
will be repurchased by the Issuers at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations; 

Section 2.2.10 if other than denominations of $1,000 and any integral multiple thereof, the denominations in which the Securities of the
Series shall be issuable; 
 Section 2.2.11 the forms of the Securities of the Series and whether the Securities will be issuable as
Global Securities; 
 Section 2.2.12 if other than the principal amount thereof, the portion of the principal amount of the Securities
of the Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2; 

Section 2.2.13 the currency of denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, and if such
currency of denomination is a composite currency, the agency or organization, if any, responsible for overseeing such composite currency; 

Section 2.2.14 the designation of the currency, currencies or currency units in which payment of the principal of and interest, if any,
on the Securities of the Series will be made; 

  
 7 

 Section 2.2.15 if payments of principal, premium or interest, if any, on the
Securities of the Series are to be made in one or more currencies or currency units other than that or those in which such Securities are denominated, the manner in which the exchange rate with respect to such payments will be determined; 

Section 2.2.16 the manner in which the amounts of payment of principal, premium or interest, if any, on the Securities of the Series will
be determined, if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or financial index; 

Section 2.2.17 the provisions, if any, relating to any security provided for the Securities of the Series or the Guarantees; 

Section 2.2.18 any addition to, deletion of or change in the Events of Default which applies to any Securities of the Series and any
change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.2; 

Section 2.2.19 any addition to, deletion of or change in the covenants set forth in Articles 4 or 5
which applies to Securities of the Series; 
 Section 2.2.20 any Depositaries, interest rate calculation agents, exchange rate
calculation agents or other agents with respect to Securities of such Series if other than those appointed herein; 
 Section 2.2.21
the provisions, if any, relating to conversion or exchange of any Securities of such Series, including if applicable, the conversion or exchange price, the conversion or exchange period, provisions as to whether conversion or exchange will be
mandatory, at the option of the Holders thereof or at the option of the Issuers, the events requiring an adjustment of the conversion price or exchange price and provisions affecting conversion or exchange if such Series of Securities are redeemed;

 Section 2.2.22 any other terms of the Securities of the Series (which may supplement, modify or delete any provision of this
Indenture insofar as it applies to such Series), including any terms that may be required under applicable law or regulations or advisable in connection with the marketing of Securities of that Series; 

Section 2.2.23 whether the Securities of such Series are entitled to the benefits of the Guarantee of any Guarantor pursuant to this
Indenture, whether any such Guarantee shall be made on a senior or subordinated basis and, if applicable, a description of the subordination terms of any such Guarantee; and 

Section 2.2.24 whether Finance Corp. will act as an Issuer of the Securities of such Series. 

All Securities of any one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this
Indenture, if so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officer’s Certificate referred to above. 

  
 8 

 Section 2.3 Execution and Authentication. An Officer or Officers shall
sign the Securities for the Issuers by manual or facsimile signature. 
 If an Officer whose signature is on a Security no longer holds that
office at the time the Security is authenticated, the Security shall nevertheless be valid. 
 A Security shall not be valid until
authenticated by the manual signature of the Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 

The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board
Resolution, supplemental indenture hereto or Officer’s Certificate, upon receipt by the Trustee of an Issuer Order. Each Security shall be dated the date of its authentication. 

The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount
for such Series set forth in the Board Resolution, supplemental indenture hereto or Officer’s Certificate delivered pursuant to Section 2.2, except as provided in Section 2.8. 

Prior to the issuance of Securities of any Series, the Trustee shall have received and (subject to Section 7.2)
shall be fully protected in relying on: (a) the Board Resolution, supplemental indenture hereto or Officer’s Certificate establishing the form of the Securities of that Series or of Securities within that Series and the terms of the
Securities of that Series or of Securities within that Series, (b) an Officer’s Certificate complying with Section 12.4, and (c) an Opinion of Counsel complying with Section 12.4.

 The Trustee shall have the right to decline to authenticate and deliver any Securities of such Series: (a) if the Trustee, being
advised by counsel, determines that such action may not be taken lawfully; or (b) if the Trustee in good faith by its board of directors or trustees, executive committee or a trust committee of directors and/or vice-presidents or a committee of
Responsible Officers shall determine that such action would expose the Trustee to personal liability to Holders of any then outstanding Series of Securities. 

The Trustee may appoint an authenticating agent acceptable to the Issuers to authenticate Securities. An authenticating agent may authenticate
Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with the Issuers or an Affiliate of
the Issuers. 
 Section 2.4 Registrar and Paying Agent. The Issuers shall maintain, with respect to each Series of
Securities, at the place or places specified with respect to such Series pursuant to Section 2.2, an office or agency where Securities of such Series may be presented or surrendered for payment (the “Paying
Agent”), where Securities of such Series may be surrendered for registration of transfer or exchange (the “Registrar”) and where notices and demands to or upon the Issuers in respect of the Securities of such
Series and this Indenture may be delivered (the “Notice Agent”). The Registrar shall keep a register with respect to each Series of Securities and to their transfer and exchange. The Issuers will give prompt written notice to
the Trustee of the 

  
 9 

 
name and address, and any change in the name or address, of each Registrar, Paying Agent or Notice Agent. If at any time the Issuers shall fail to maintain any such required Registrar, Paying
Agent or Notice Agent or shall fail to furnish the Trustee with the name and address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Issuers hereby appoint the
Trustee as their agent to receive all such presentations, surrenders, notices and demands. 
 The Issuers may also from time to time
designate one or more co-registrars, additional paying agents or additional notice agents and may from time to time rescind such designations; provided, however, that no such designation or
rescission shall in any manner relieve the Issuers of their obligations to maintain a Registrar, Paying Agent and Notice Agent in each place so specified pursuant to Section 2.2 for Securities of any Series for such
purposes. The Issuers will give prompt written notice to the Trustee of any such designation or rescission and of any change in the name or address of any such co-registrar, additional paying agent or
additional notice agent. The term “Registrar” includes any co-registrar; the term “Paying Agent” includes any additional paying agent; and the term
“Notice Agent” includes any additional notice agent. The Partnership or any of its Affiliates may serve as Registrar or Paying Agent. 

The Issuers hereby appoint the Trustee the initial Registrar, Paying Agent and Notice Agent for each Series unless another Registrar, Paying
Agent or Notice Agent, as the case may be, is appointed prior to the time Securities of that Series are first issued. 
 Section 2.5
Paying Agent to Hold Money in Trust. The Issuers shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the benefit of Securityholders of any Series of Securities, or
the Trustee, all money held by the Paying Agent for the payment of principal of or interest on the Series of Securities, and will notify the Trustee in writing of any default by the Issuers in making any such payment. While any such default
continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuers at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other
than the Issuers or a Subsidiary of the Partnership) shall have no further liability for the money. If an Issuer or a Subsidiary of the Partnership acts as the Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of
Securityholders of any Series of Securities all money held by it as Paying Agent. Upon any bankruptcy, reorganization or similar proceeding with respect to the Issuers, the Trustee shall serve as Paying Agent for the Securities. 

Section 2.6 Securityholder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most
recent list available to it of the names and addresses of Securityholders of each Series of Securities and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Issuers shall furnish to the Trustee at least ten days
before each interest payment date and at such other times as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of Securityholders of each Series of
Securities. 

  
 10 

 Section 2.7 Transfer and Exchange. Where Securities of a Series are
presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Securities of the same Series, the Registrar shall register the transfer
or make the exchange if its requirements for such transactions are met. To permit registrations of transfers and exchanges, the Trustee shall authenticate Securities at the Registrar’s request. No service charge shall be made for any
registration of transfer or exchange (except as otherwise expressly permitted herein), but the Issuers may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any
such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6). 

Neither the Issuers nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Securities of any Series for
the period beginning at the opening of business fifteen days immediately preceding the sending of a notice of redemption of Securities of that Series selected for redemption and ending at the close of business on the day of such notice is sent, or
(b) to register the transfer of or exchange Securities of any Series selected, called or being called for redemption as a whole or the portion being redeemed of any such Securities selected, called or being called for redemption in part. 

Section 2.8 Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated Security is surrendered to the Trustee, the
Issuers shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 

If there shall be delivered to the Issuers and the Trustee (a) evidence to their satisfaction of the destruction, loss or theft of any
Security and (b) such security or indemnity bond as may be required by them to hold each of them and any agent of either of them harmless, then, in the absence of notice to the Issuers or the Trustee that such Security has been acquired by a
bona fide purchaser, the Issuers shall execute and upon its request the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same Series and of like tenor and
principal amount and bearing a number not contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security
has become or is about to become due and payable, the Issuers in their discretion may, instead of issuing a new Security, pay such Security. 

Upon the issuance of any new Security under this Section 2.8, the Issuers may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 

Every new Security of any Series issued pursuant to this Section 2.8 in lieu of any destroyed, lost or stolen
Security shall constitute an original additional contractual obligation of the Issuers, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture
equally and proportionately with any and all other Securities of that Series duly issued hereunder. 
 The provisions of this
Section 2.8 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

  
 11 

 Section 2.9 Outstanding Securities. The Securities outstanding at any
time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest on a Global Security effected by the Trustee in accordance with the provisions hereof
and those described in this Section 2.9 as not outstanding. 
 If a Security is replaced pursuant to
Section 2.8, it ceases to be outstanding until the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser. 

If the Paying Agent (other than the Issuers, a Subsidiary of the Partnership or an Affiliate of the Issuers) holds on the Maturity of
Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on them ceases to accrue. 

The Issuers may purchase or otherwise acquire the Securities, whether by open market purchases, negotiated transactions or otherwise. A
Security does not cease to be outstanding because the Issuers or an Affiliate of the Issuers holds the Security (but see Section 2.10 below). 

In determining whether the Holders of the requisite principal amount of outstanding Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such
determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.2. 

Section 2.10 Treasury Securities. In determining whether the Holders of the required principal amount of Securities of a
Series have concurred in any request, demand, authorization, direction, notice, consent or waiver, Securities of a Series owned by the Issuers or any Affiliate of the Issuers shall be disregarded, except that for the purposes of determining whether
the Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver only Securities of a Series that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded.

 Section 2.11 Temporary Securities. Until definitive Securities are ready for delivery, the Issuers may prepare and the
Trustee shall authenticate temporary Securities upon an Issuer Order. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Issuers consider appropriate for temporary Securities. Without
unreasonable delay, the Issuers shall prepare and the Trustee upon receipt of an Issuer Order shall authenticate definitive Securities of the same Series and date of maturity in exchange for temporary Securities. Until so exchanged, temporary
securities shall have the same rights under this Indenture as the definitive Securities. 
 Section 2.12 Cancellation.
The Issuers at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee shall
cancel all Securities surrendered for transfer, exchange, payment, replacement or cancellation and shall destroy such canceled Securities (subject to the record retention requirements of the Exchange Act and the Trustee) and deliver a certificate of
such cancellation to the Issuers upon written request of the Issuers. The Issuers may not issue new Securities to replace Securities that have been paid or delivered to the Trustee for cancellation. 

  
 12 

 Section 2.13 Defaulted Interest. If the Issuers default in a payment of
interest on a Series of Securities, they shall pay the defaulted interest, plus, to the extent permitted by law, any interest payable on the defaulted interest, to the persons who are Securityholders of the Series on a subsequent special record
date. The Issuers shall fix the record date and payment date. At least 10 days before the special record date, the Issuers shall deliver to the Trustee and to each Securityholder of the Series a notice that states the special record date, the
payment date and the amount of interest to be paid. The Issuers may pay defaulted interest in any other lawful manner. 
 Section 2.14
Global Securities. 
 Section 2.14.1 Terms of Securities. A Board Resolution, a supplemental indenture
hereto or an Officer’s Certificate shall establish whether the Securities of a Series shall be issued in whole or in part in the form of one or more Global Securities and the Depositary for such Global Security or Securities. 

Section 2.14.2 Transfer and Exchange. Notwithstanding any provisions to the contrary contained in
Section 2.7 of the Indenture and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.7 of the Indenture for Securities registered in the names of Holders other than
the Depositary for such Security or its nominee only if (a) such Depositary notifies the Issuers that it is unwilling or unable to continue as Depositary for such Global Security or if at any time such Depositary ceases to be a clearing agency
registered under the Exchange Act, and, in either case, the Issuers fail to appoint a successor Depositary registered as a clearing agency under the Exchange Act within 90 days of such event or (b) the Issuers execute and deliver to the Trustee
an Officer’s Certificate to the effect that such Global Security shall be so exchangeable. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as the
Depositary shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security with like tenor and terms. 

Except as provided in this Section 2.14.2, a Global Security may not be transferred except as a whole by the
Depositary with respect to such Global Security to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee
of such a successor Depositary. 
 Section 2.14.3 Legend. Any Global Security issued hereunder shall bear a legend in
substantially the following form: 
 “THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO
AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN
THE INDENTURE, AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A
SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH A SUCCESSOR DEPOSITARY.” 

  
 13 

 In addition, so long as the Depository Trust Company (“DTC”) is the
Depositary, each Global Note registered in the name of DTC or its nominee shall bear a legend in substantially the following form: 

“UNLESS THIS GLOBAL NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY GLOBAL NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 
 Section 2.14.4 Payments. Notwithstanding
the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.2, payment of the principal of and interest, if any, on any Global Security shall be made to the Holder thereof. 

Section 2.14.5 Consents, Declaration and Directions. The Issuers, the Trustee and any Agent shall treat a person as the
Holder of such principal amount of outstanding Securities of such Series represented by a Global Security as shall be specified in a written statement of the Depositary or by the applicable procedures of such Depositary with respect to such Global
Security, for purposes of obtaining any consents, declarations, waivers or directions required to be given by the Holders pursuant to this Indenture. 

Section 2.15 CUSIP Numbers. The Issuers in issuing the Securities may use “CUSIP” numbers (if then generally in
use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as
printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or
omission of such numbers. The Issuers will promptly notify the Trustee in writing of any change in the “CUSIP” numbers. 

  
 14 

 ARTICLE 3 

REDEMPTION 

Section 3.1 Notice to Trustee. The Issuers may, with respect to any Series of Securities, reserve the right to redeem and
pay the Series of Securities or may covenant to redeem and pay the Series of Securities or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities and/or a Board Resolution,
supplemental Indenture or Officer’s Certificate with respect to such Securities. If a Series of Securities is redeemable and the Issuers want or are obligated to redeem prior to the Stated Maturity thereof all or part of the Series of
Securities pursuant to the terms of such Securities, they shall notify the Trustee in writing of the redemption date and the principal amount of the Series of Securities to be redeemed. The Issuers shall give the notice at least three Business Days
before notice of redemption is delivered to the Holders, unless a shorter period is satisfactory to the Trustee. This notice may be combined with the Issuer Request that the Trustee send the notice of redemption as provided in
Section 3.3. 
 Section 3.2 Selection of Securities to be Redeemed. Unless otherwise indicated
for a particular Series by a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, if less than all the Securities of a Series are to be redeemed, the Trustee shall select the Securities of the Series to be redeemed in
any manner, including by lot or other method, subject, in the case of Global Securities, to the applicable rules and procedures of the Depositary. The Trustee shall make the selection from Securities of the Series outstanding not previously called
for redemption. The Trustee may select for redemption portions of the principal of Securities of the Series that have denominations larger than $1,000. Securities of the Series and portions of them it selects shall be in amounts of $1,000 or whole
multiples of $1,000 or, with respect to the Securities of any Series issuable in other denominations pursuant to Section 2.2.10, the minimum principal denomination for each Series and the authorized integral multiples
thereof. Provisions of this Indenture that apply to the Securities of a Series called for redemption also apply to portions of the Securities of that Series called for redemption. 

Section 3.3 Notice of Redemption. Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental
indenture hereto or an Officer’s Certificate, at least 15 days but not more than 60 days before a redemption date, (except that redemption notices may be sent more than 60 days before a redemption date if the notice is issued in connection with
the satisfaction and discharge of this Indenture with respect a series of Securities or to defeasance of a series of Securities pursuant to Article 8 of this Indenture) the Issuers shall send a notice of redemption to each Holder whose
Securities are to be redeemed. 
 The notice shall identify the Securities of the Series to be redeemed and shall state: 

(a) the redemption date; 
 (b)
the redemption price, if then determinable, and, if not, a method of determining the redemption price; 
 (c) the name and address of the
Paying Agent; 
 (d) if any Securities are being redeemed in part, the portion of the principal amount of such Securities to be redeemed and
that, after the redemption date and upon surrender of such Security, a new Security or Securities in principal amount equal to the unredeemed portion of the original Security shall be issued in the name of the Holder thereof upon cancellation of the
original Security; 

  
 15 

 (e) that the Securities of the Series called for redemption must be surrendered to the
Paying Agent to collect the redemption price; 
 (f) that interest on the Securities of the Series called for redemption ceases to accrue on
and after the redemption date unless the Issuers default in the deposit of the redemption price; 
 (g) the CUSIP number, if any; and 

(h) any other information as may be required by the terms of the particular Series or the Securities of a Series being redeemed. 

Pursuant to an Issuer Request, the Trustee shall give the notice of redemption in the Issuers’ names and at their expense,
provided, however, that the Issuers have delivered to the Trustee, at least three Business Days (unless a shorter time shall be acceptable to the Trustee) prior to the notice date, such Issuer Request that the Trustee give such notice
and setting forth the information to be stated in such notice in the form of a copy of the notice to the Holders. The Issuer Request may be combined with the notice to the Trustee provided in Section 3.1 hereof. The Issuer
Request shall be accompanied by Officer’s Certificate and Opinion of Counsel in compliance with Section 12.4. 

Section 3.4 Effect of Notice of Redemption. Once notice of redemption is delivered as provided in
Section 3.3, the Securities of a Series called for redemption become due and payable on the redemption date and at the redemption price. 

Except as otherwise provided in the supplemental indenture, Board Resolution or Officer’s Certificate for a Series, a redemption of a
Series and the notice of redemption pertaining to such Series may not be conditional. If redemption of any Series and the notice thereof is permitted to be conditional as provided above, then, if the condition or conditions with respect to the
redemption of the Series specified in the notice of redemption are not satisfied, such redemption and the notice thereof shall be of no effect as provided in the supplemental indenture, Board Resolution or Officer’s Certificate for a Series.
Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price plus accrued interest to the redemption date. 

Section 3.5 Deposit of Redemption Price. On or before 11:00 a.m., New York City time, on the redemption date, the Issuers
shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be redeemed on that date. 

Section 3.6 Securities Redeemed in Part. Upon surrender of a Security that is redeemed in part, the Trustee shall
authenticate for the Holder a new Security of the same Series and the same maturity equal in principal amount to the unredeemed portion of the Security surrendered. 

  
 16 

 ARTICLE 4 

COVENANTS 

Section 4.1 Payment of Principal and Interest. The Issuers covenant and agree for the benefit of the Holders of each Series
of Securities that they will duly and punctually pay the principal of and interest, if any, on the Securities of that Series in accordance with the terms of such Securities and this Indenture. On or before 11:00 a.m., New York City time, on the
applicable payment date, the Issuers shall deposit with the Paying Agent money sufficient (as determined by the Issuers) to pay the principal of and interest, if any, on the Securities of each Series in accordance with the terms of such Securities
and this Indenture. 
 Section 4.2 SEC Reports. To the extent any Securities of a Series are outstanding, the Partnership
shall deliver to the Trustee within 15 days after it files them with the SEC 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 SEC may by rules and
regulations prescribe) which the Partnership is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Partnership also shall comply with the other provisions of TIA § 314(a). Reports, information and
documents filed with the SEC via the EDGAR system will be deemed to be delivered to the Trustee as of the time of such filing via EDGAR for purposes of this Section 4.2, provided, however, that for the
avoidance of doubt, the Trustee shall have no responsibility whatsoever to determine if such filing or posting has occurred. 
 Delivery of
reports, information and documents to the Trustee under this Section 4.2 are for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute constructive or actual notice of any
information contained therein or determinable from information contained therein, including the Issuers’ compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on an Officer’s
Certificate). 
 Section 4.3 Compliance Certificate. The Issuers and each Guarantor (to the extent that such Guarantor is
so required under the TIA) shall, so long as any Securities are outstanding, deliver to the Trustee, within 120 days after the end of each fiscal year of the Partnership, an Officer’s Certificate stating that a review of the activities of the
Issuers and the Subsidiaries of the Partnership during the preceding fiscal year has been made under the supervision of the signing Officer with a view to determining whether the Issuers and any Guarantor have kept, observed, performed and fulfilled
their obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge the Issuers have kept, observed, performed and fulfilled each and every covenant contained in
this Indenture and are not in default in the performance or observance of any of the terms, provisions and conditions hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he or
she may have knowledge). 
 Section 4.4 Stay, Extension and Usury Laws. The Issuers covenant (to the extent that they may
lawfully do so) that they will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of any stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may affect the
covenants or the performance of this Indenture or the Securities; and the Issuers (to the extent they may lawfully do so) hereby expressly waive all benefit or advantage of any such law and covenant that they will not, by resort to any such law,
hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted. 

  
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 ARTICLE 5 

SUCCESSORS 

Section 5.1 When Issuers May Merge, Etc. An Issuer may not consolidate with or merge with or into, or convey, transfer or
lease all or substantially all of its properties and assets to, any person (a “successor person”) unless: 
 (a) either
(i) such Issuer is the surviving entity or (ii) the successor person (if other than such Issuer) is a corporation, limited liability company, partnership, trust or other entity organized and validly existing under the laws of any U.S.
domestic jurisdiction and expressly assumes such Issuer’s obligations on the Securities and under this Indenture; 
 (b) immediately
after giving effect to the transaction, no Default or Event of Default, shall have occurred and be continuing under this Indenture; and 

(c) if such Issuer is not the successor person, then each Guarantor, unless it has become the successor person, shall confirm that its
Guarantee shall continue to apply to the obligations under the Securities and this Indenture to the same extent as prior to such merger, conveyance, transfer or lease, as applicable. 

Such Issuer shall deliver to the Trustee prior to the consummation of the proposed transaction an Officer’s Certificate to the foregoing
effect and an Opinion of Counsel stating that the proposed transaction and any supplemental indenture hereto comply with this Indenture. 

Notwithstanding the above, any Subsidiary of the Partnership may consolidate with, merge into or transfer all or part of its properties to the
Partnership. Neither an Officer’s Certificate nor an Opinion of Counsel shall be required to be delivered in connection therewith. 

Section 5.2 Successor Person Substituted. Upon any consolidation or merger, or any sale, lease, conveyance or other
disposition of all or substantially all of the assets, of an Issuer in accordance with Section 5.1, the successor person formed by such consolidation or into or with which such Issuer is merged or to which such sale, lease, conveyance or other
disposition is made shall succeed to, and be substituted for, and may exercise every right and power of, such Issuer under this Indenture with the same effect as if such successor person has been named as an Issuer herein; provided,
however, that the predecessor Issuer in the case of a sale, conveyance or other disposition (other than a lease) shall be released from all obligations and covenants under this Indenture and the Securities. 

ARTICLE 6 
 DEFAULTS
AND REMEDIES 
 Section 6.1 Events of Default. “Event of Default,” wherever used herein
with respect to the Securities of any Series, means any one of the following events, unless in the establishing Board Resolution, supplemental indenture hereto or Officer’s Certificate, it is provided that such Series shall not have the
benefit of said Event of Default: 
 (a) default in the payment of any interest on any Security of that Series when it becomes due and
payable, and continuance of such default for a period of 30 days (unless the entire amount of such payment is deposited by the Issuers with the Trustee or with a Paying Agent prior to 11:00 a.m., New York City time, on the 30th day of such period);

  
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 (b) default in the payment of principal of any Security of that Series at its Maturity;

 (c) default in the performance or breach of any covenant or warranty of the Issuers in this Indenture (other than defaults pursuant to
paragraphs (a) or (b) above or pursuant to a covenant or warranty that has been included in this Indenture solely for the benefit of the Series of Securities other than that Series), which default continues
uncured for a period of 60 days after there has been given, by registered or certified mail, to the Issuers by the Trustee or to the Issuers and the Trustee by the Holders of at least 25% in principal amount of the outstanding Securities of that
Series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; 

(d) either of the Issuers pursuant to or within the meaning of any Bankruptcy Law: 

(i) commences a voluntary case, 

(ii) consents to the entry of an order for relief against it in an involuntary case, 

(iii) consents to the appointment of a Custodian of it or for all or substantially all of its property, 

(iv) makes a general assignment for the benefit of its creditors, or 

(v) generally is unable to pay its debts as the same become due; 

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

(i) is for relief against either of the Issuers in an involuntary case, 

(ii) appoints a Custodian of either of the Issuers or for all or substantially all of its property, or 

(iii) orders the liquidation of either of the Issuers, 

and the order or decree remains unstayed and in effect for 60 days; or 

(f) any other Event of Default provided with respect to the Securities of that Series, which is specified in a Board Resolution, a
supplemental indenture hereto or an Officer’s Certificate, in accordance with Section 2.2.18. 

  
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 The term “Bankruptcy Law” means Title 11 of the U.S. Code or any
similar Federal or State law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 

The Issuers will provide the Trustee with written notice of any Default or Event of Default within 30 days of becoming aware of the occurrence
of such Default or Event of Default, which notice will describe in reasonable detail the status of such Default or Event of Default and what action the Issuers are taking or proposes to take in respect thereof. 

Section 6.2 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, and it is known to the Trustee (other than an Event of Default referred to in Section 6.1(d) or (e)) then in every such case the Trustee or the Holders of not
less than 25% in principal amount of the outstanding Securities of that Series may declare the principal amount (or, if any Securities of that Series are Discount Securities, such portion of the principal amount as may be specified in the terms of
such Securities) of and accrued and unpaid interest, if any, on all of the Securities of that Series to be due and payable immediately, by a notice in writing to the Issuers (and to the Trustee if given by Holders), and upon any such declaration
such principal amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately due and payable. If an Event of Default specified in Section 6.1(d) or (e) shall occur, the principal
amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 

At any time after such a declaration of acceleration with respect to any Series has been made and before a judgment or decree for payment of
the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the outstanding Securities of that Series, by written notice to the Issuers and the Trustee, may rescind and
annul such declaration and its consequences if all Events of Default with respect to the Securities of that Series, other than the non-payment of the principal and interest, if any, of the Securities of that
Series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.13. 

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

Section 6.3 Collection of Indebtedness and Suits for Enforcement by Trustee. The Issuers covenant that if 

(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a
period of 30 days, 
 (b) default is made in the payment of principal of any Security at the Maturity thereof, or 

(c) default is made in the deposit of any sinking fund payment when and as due by the terms of any Security, 

  
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 then, the Issuers will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such
Securities, the whole amount then due and payable on such Securities for principal and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any overdue interest at the rate or
rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel. 
 If the Issuers fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as
trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Issuers, any Guarantor or any other
obligor upon such Securities and collect the moneys adjudged or deemed to be payable in the manner provided by law out of the property of the Issuers, any Guarantor or any other obligor upon such Securities, wherever situated. 

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

Section 6.4 Trustee May File Proofs of Claim. In case of the pendency of any receivership, insolvency, liquidation,
bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Issuers or any other obligor upon the Securities or the property of the Issuers or of such other obligor or their respective creditors, the
Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Issuers for the payment of
overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, 
 (a) to file and prove a
claim for the whole amount of principal and interest owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and 

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by
each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.7. To the extent that the payment of any such compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel, and any other amounts due the 

  
 21 

 
Trustee under Section 7.7 out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid
out of, any and all distributions, dividends, money, securities and other properties which the Holders of the Securities may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or
otherwise. 
 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of
any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

Section 6.5 Trustee May Enforce Claims Without Possession of Securities. All rights of action and claims under this
Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be
brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the
ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered. 
 Section 6.6 Application
of Money Collected. Any money or property 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 or property on
account of principal or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 

First: To the payment of all amounts due the Trustee under Section 7.7; 

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

Third: To the Issuers or the Guarantors, as applicable. 

Section 6.7 Limitation on Suits. No Holder of any Security of any Series shall have any right to institute any proceeding,
judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 

(a) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that
Series; 
 (b) the Holders of not less than 25% in principal amount of the outstanding Securities of that Series shall have made written
request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

  
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 (c) such Holder or Holders have offered to the Trustee indemnity or security satisfactory
to the Trustee against any losses, costs, expenses and liabilities which might be incurred by the Trustee in compliance with such request; 

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

 (e) no direction inconsistent with such written request has been given to the Trustee during such
60-day period by the Holders of a majority in principal amount of the outstanding Securities of that Series; 
 it
being understood, intended and expressly covenanted by the Holder of every Security with every other Holder and the Trustee that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any
provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the
manner herein provided and for the equal and ratable benefit of all such Holders of the applicable Series. 
 Section 6.8
Unconditional Right of Holders to Receive Principal and Interest. Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the
principal of and interest, if any, on such Security on the Maturity of such Security, including the Stated Maturity expressed in such Security (or, in the case of redemption, on the redemption date) and to institute suit for the enforcement of any
such payment, and such rights shall not be impaired without the consent of such Holder. 
 Section 6.9 Restoration of Rights and
Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee
or to such Holder, then and in every such case, subject to any determination in such proceeding, the Issuers, the Guarantors, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter
all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 
 Section 6.10
Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.8, no right or remedy herein conferred
upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by law, prevent the concurrent assertion or employment of any
other appropriate right or remedy. 
 Section 6.11 Delay or Omission Not Waiver. No delay or omission of the Trustee or
of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an 

  
 23 

 
acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the
Trustee or by the Holders, as the case may be. 
 Section 6.12 Control by Holders. The Holders of a majority in principal
amount of the outstanding Securities of any Series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with
respect to the Securities of such Series, provided that 
 (a) such direction shall not be in conflict with any rule of law or with
this Indenture, 
 (b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction,

 (c) subject to the provisions of Section 6.1, the Trustee shall have the right to decline to follow any such
direction if the Trustee in good faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability, and 

(d) prior to taking any action as directed under this Section 6.12, the Trustee shall be entitled to indemnity
satisfactory to it against all losses, costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. 

Section 6.13 Waiver of Past Defaults. The Holders of not less than a majority in principal amount of the outstanding
Securities of any Series may on behalf of the Holders of all the Securities of such Series waive any past Default hereunder with respect to such Series and its consequences, except a Default in the payment of the principal of or interest on any
Security of such Series (provided, however, that the Holders of a majority in principal amount of the outstanding Securities of any Series may rescind an acceleration and its consequences, including any related payment default that
resulted from such acceleration). Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any
subsequent or other Default or impair any right consequent thereon. 
 Section 6.14 Undertaking for Costs. All parties to
this Indenture agree, and each Holder of any Security by its acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit
against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs,
including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this
Section 6.14 shall not apply to any suit instituted by the Issuers, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal
amount of the outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on any Security on or after the Maturity of such Security, including the Stated Maturity
expressed in such Security (or, in the case of redemption, on the redemption date). 
  

  
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 ARTICLE 7 

TRUSTEE 

Section 7.1 Duties of Trustee. 

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

(b) Except during the continuance of an Event of Default with respect to the Securities of any Series: 

(i) The Trustee need perform only those duties that are specifically set forth in this Indenture and no others, and no implied
covenants or obligations shall be read against into this Indenture against the Trustee. 
 (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 Officer’s Certificates or Opinions of Counsel furnished to the Trustee and conforming to the
requirements of this Indenture; however, in the case of any such Officer’s Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such
Officer’s Certificates and Opinions of Counsel to determine whether or not they conform to the form requirements of this Indenture. 

(c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful
misconduct, except that: 
 (i) This paragraph does not limit the effect of paragraph (b) of this
Section. 
 (ii) The Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer,
unless it is proved that the Trustee was negligent in ascertaining the pertinent facts. 
 (iii) The Trustee shall not be
liable with respect to any action taken, suffered or omitted to be taken by it with respect to 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 relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such
Series in accordance with Section 6.12. 

  
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 (d) Every provision of this Indenture that in any way relates to the Trustee is subject to
clauses (a), (b) and (c) of this Section 7.1. 
 (e) The Trustee may
refuse to perform any duty or exercise any right or power unless it receives indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in performing such duty or exercising such right or power. 

(f) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuers.
Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 (g) No provision of this
Indenture shall require the Trustee to risk its own funds or otherwise incur any financial liability in the performance of any of its duties, or in the exercise of any of its rights or powers, if adequate indemnity against such risk is not assured
to the Trustee in its satisfaction. 
 (h) The Paying Agent, the Registrar and any authenticating agent shall be entitled to the protections
and immunities as are set forth in paragraphs (e), (f) and (g) of this Section 7.1 and in Section 7.2, each with respect to the Trustee. 

Section 7.2 Rights of Trustee. 

(a) The Trustee may rely on and shall be protected in acting or refraining from acting upon any document (whether in its original or facsimile
or other electronic form) believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 

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

(c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. No
Depositary shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission by any Depositary. 

(d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its
rights or powers, provided that the Trustee’s conduct does not constitute willful misconduct or negligence. 
 (e) The Trustee
may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder without willful misconduct or negligence,
in good faith and in reliance thereon. 
 (f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it
by this Indenture at the request or direction of any of the Holders of Securities unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by
it in compliance with such request or direction. 
  

  
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 (g) The Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make
such further inquiry or investigation into such facts or matters as it may see fit. 
 (h) The Trustee shall not be deemed to have notice of
any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee,
and such notice references the Securities generally or the Securities of a particular Series and this Indenture. 
 (i) In no event shall
the Trustee be liable to any person for special, punitive, indirect, consequential or incidental loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the likelihood of such loss
or damage. 
 (j) The permissive right of the Trustee to take the actions permitted by this Indenture shall not be construed as an
obligation or duty to do so. 
 (k) The Trustee shall not be required to give bond or other security in respect to the performance of its
powers and duties hereunder. 
 Section 7.3 Individual Rights of Trustee. The Trustee in its individual or any other
capacity may become the owner or pledgee of Securities and may otherwise deal with the Issuers or any Affiliates of the Issuers with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee is
also subject to Sections 7.10 and 7.11. 
 Section 7.4
Trustee’s Disclaimer. The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Issuers’ use of the proceeds from
the Securities, and it shall not be responsible for recital herein or any statement in the Securities other than its authentication. 

Section 7.5 Notice of Defaults. If a Default or Event of Default occurs and is continuing with respect to the Securities of
any Series and if it is known to the Trustee (as provided in Section 7.2(h)), the Trustee shall deliver to each Securityholder of the Securities of that Series notice of a Default or Event of Default within 90 days after it
occurs or, if later, after the Trustee has knowledge of such Default or Event of Default (as provided in Section 7.2(h)). Except in the case of a Default or Event of Default in payment of principal of or interest on any
Security of any Series, the Trustee may withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Securityholders of
that Series. 
  

  
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 Section 7.6 Reports by Trustee to Holders. Within 60 days after each
anniversary of the date of this Indenture, the Trustee shall send to all Securityholders, as their names and addresses appear on the register kept by the Registrar, a brief report dated as of such anniversary date, in accordance with, and to the
extent required under, TIA § 313. 
 A copy of each report at the time of its being sent to Securityholders of any Series shall be
filed by the Issuers with the SEC and each national securities exchange on which the Securities of that Series are listed. The Issuers shall promptly notify the Trustee in writing when Securities of any Series are listed or cease to be listed on any
national securities exchange. 
 Section 7.7 Compensation and Indemnity. The Issuers shall pay to the Trustee from time
to time such compensation for its services as the Issuers and the Trustee shall from time to time agree upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuers
shall reimburse the Trustee upon request for all reasonable out of pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel. 

The Issuers shall indemnify each of the Trustee and any predecessor Trustee (including the cost of defending itself) against cost, expense or
liability, including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred by it except as set forth in the next paragraph in the performance of its duties under this Indenture as Trustee or Agent. The
Trustee shall notify the Issuers promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Issuers shall not relieve the Issuers of their obligations hereunder, unless and to the extent that the Issuers are
materially prejudiced thereby. The Issuers shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one separate counsel and the Issuer shall pay the reasonable fees and expenses of such counsel. The Issuers need
not pay for any settlement made without their consent, which consent will not be unreasonably withheld. This indemnification shall apply to officers, directors, employees, shareholders and agents of the Trustee. 

The Issuers need not reimburse any expense or indemnify against any loss or liability incurred by the Trustee or by any officer, director,
employee, shareholder or agent of the Trustee through willful misconduct or negligence as found by a court of competent jurisdiction. 
 To
secure the Issuers’ payment obligations in this Section 7.7, the Trustee shall have a lien prior to the Securities of any Series on all money or property held or collected by the Trustee, except that held in trust to
pay principal of and interest on particular Securities of that Series. 
 When the Trustee incurs expenses or renders services after an
Event of Default specified in Section 6.1(d) or (e) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 

The provisions of this Section 7.7 shall survive the termination of this Indenture, the termination and discharge of
this Indenture with respect to a Series of Securities issued hereunder, and the resignation or removal of the Trustee. 
 Section 7.8
Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this
Section 7.8. 

  
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 The Trustee may resign with respect to the Securities of one or more Series by so notifying
the Issuers at least 30 days prior to the date of the proposed resignation. The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee and the Issuers.
The Issuers may remove the Trustee with respect to the Securities of one or more Series if: 
 (a) the Trustee fails to comply with
Section 7.10; 
 (b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with
respect to the Trustee under any Bankruptcy Law; 
 (c) a Custodian or public officer takes charge of the Trustee or its property; or 

(d) the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason with respect to one or more Series, the
Issuers shall promptly appoint a successor Trustee with respect to such Series. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor
Trustee to replace the successor Trustee appointed by the Issuers. 
 If a successor Trustee with respect to the Securities of any one or
more Series does not take office within 60 days after the retiring or removed Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of at least a majority in principal amount of the Securities then outstanding of the
applicable Series may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
 A successor Trustee shall
deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in
Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of Securities for
which it is acting as Trustee under this Indenture. A successor Trustee shall deliver a notice of its succession to each Securityholder of each such Series. Notwithstanding replacement of the Trustee pursuant to this
Section 7.8, the Issuers’ obligations under Section 7.7 hereof shall continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred by it for actions taken
or omitted to be taken in accordance with its rights, powers and duties under this Indenture prior to such replacement. 
 Section 7.9
Successor Trustee by Merger, Etc. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation without any further
act shall be the successor Trustee, subject to Section 7.10. 
 Section 7.10 Eligibility;
Disqualification. This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee shall always have a combined capital and surplus of at least $50,000,000 as set forth in its most
recent published annual report of condition. The Trustee shall comply with TIA § 310(b). 

  
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 Section 7.11 Preferential Collection of Claims Against Issuers. The
Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated. 

ARTICLE 8 

SATISFACTION AND DISCHARGE; DEFEASANCE 

Section 8.1 Satisfaction and Discharge of Indenture. This Indenture shall upon Issuer Order be discharged with respect to
the Securities of any Series and cease to be of further effect as to all Securities of such Series (except as hereinafter provided in this Section 8.1), and the Trustee, at the expense of the Issuers, shall execute
instruments acknowledging satisfaction and discharge of this Indenture, when 
 (a) either 

(i) all Securities of such Series theretofore authenticated and delivered (other than Securities that have been destroyed, lost
or stolen and that have been replaced or paid) have been delivered to the Trustee for cancellation; or 
 (ii) all such
Securities of such Series not theretofore delivered to the Trustee for cancellation 
 (1) have become due and payable by
reason of sending a notice of redemption or otherwise, 
 (2) will become due and payable at their Stated Maturity within
one year, 
 (3) have been called for redemption or are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuers, or 

(4) are deemed paid and discharged pursuant to Section 8.3, as applicable; 

and the Issuers, in the case of (1), (2) or (3) above, shall have irrevocably deposited or caused to be deposited with the Trustee
as trust funds in trust an amount of money or U.S. Government Obligations, which amount shall be sufficient for the purpose of paying and discharging each installment of principal (including mandatory sinking fund or analogous payments) of and
interest on all the Securities of such Series on the dates such installments of principal or interest are due; 
 (a) the Issuers have paid
or caused to be paid all other sums payable hereunder by the Issuers; 
 (b) in the case of the deposit of U.S. Government Obligations
and/or a combination of money and U.S. Government Obligations, the Issuers have delivered to the Trustee an opinion of a nationally recognized firm of certified independent public accountants or 

  
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investment bank expressed in a written certification thereof delivered to the Trustee that such deposit shall be sufficient (without reinvestment) shall be sufficient for the purpose of paying
and discharging each installment of principal (including mandatory sinking fund or analogous payments) and interest on all the Securities of such Series on the dates such installments of principal or interest are due; and 

(c) the Issuers have 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 this Indenture have been complied with. 
 Notwithstanding the
satisfaction and discharge of this Indenture or the satisfaction and discharge of this Indenture with respect a series of Securities, the obligations of the Issuers to the Trustee under Sections 7.7 and 8.2, and, if
money shall have been deposited with the Trustee pursuant to clause (a) of this Section 8.1, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and 8.5 shall survive
such termination and discharge and the resignation or removal of the Trustee. 
 If the Issuers exercise the satisfaction and discharge
provisions in compliance with this Indenture with respect to Securities of a particular Series that are entitled to the benefit of the Guarantee of any Guarantor, the Guarantee will terminate with respect to that Series of Securities. 

Section 8.2 Application of Trust Funds; Indemnification. 

(a) Subject to the provisions of Section 8.5, all money and U.S. Government Obligations or Foreign Government
Obligations deposited with the Trustee pursuant to Sections 8.3 or 8.4 and all money received by the Trustee in respect of U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee
pursuant to Sections 8.3 or 8.4, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent
(including an Issuer acting as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of the principal and interest for whose payment such money has been deposited with or received by the Trustee or to make mandatory
sinking fund payments or analogous payments as contemplated by Sections 8.3 or 8.4. 
 (b) The Issuers
shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Foreign Government Obligations deposited pursuant to Sections 8.3 or 8.4 or
the interest and principal received in respect of such obligations other than any payable by or on behalf of Holders. 
 (c) The Trustee
shall deliver or pay to the Issuers from time to time upon an Issuer Order any U.S. Government Obligations or Foreign Government Obligations or money held by it as provided in Sections 8.3 or 8.4 which, in the
opinion of a nationally recognized firm of independent certified public accountants or investment bank expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount thereof which then would have been
required to be deposited for the purpose for which such U.S. Government Obligations or Foreign Government Obligations or money were deposited or received. This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations
or Foreign Government Obligations held under this Indenture. 

  
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 Section 8.3 Legal Defeasance of Securities of any Series. Unless this
Section 8.3 is otherwise specified, pursuant to Section 2.2, to be inapplicable to Securities of any Series, the Issuers shall be deemed to have paid and discharged the entire indebtedness on all
the outstanding Securities of any Series on the 91st day after the date of the deposit referred to in subparagraph (d) hereof, and the provisions of this Indenture, as it relates to such outstanding Securities of such
Series, shall no longer be in effect and any Guarantee will terminate with respect to that Series of Securities (and the Trustee, at the expense of the Issuers, shall, upon receipt of an Issuer Order, execute instruments acknowledging the same),
except as to: 
 (a) the rights of Holders of Securities of such Series to receive, from the trust funds described in
subparagraph (d) hereof, (i) payment of the principal of and each installment of principal of and interest on the outstanding Securities of such Series on the Maturity of such principal or installment of principal or
interest and (ii) the benefit of any mandatory sinking fund payments applicable to the Securities of such Series on the day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such
Series; 
 (b) the provisions of Sections 2.4, 2.5, 2.7, 2.8, 7.7, 8.2,
8.3, 8.5 and 8.6; and 
 (c) the rights, powers, trust and immunities of the Trustee hereunder and the Issuers’
obligations in connection therewith; 
 provided that, the following conditions shall have been satisfied: 

(a) the Issuers shall have deposited or caused to be irrevocably deposited (except as provided in Section 8.3(c))
with the Trustee as trust funds specifically pledged as security for and dedicated solely to the benefit of the Holders of such Securities for the purpose of making the following payments (i) in the case of Securities of such Series denominated
in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the
payment of interest and principal in respect thereof in accordance with their terms, will provide (and without reinvestment), not later than one day before the due date of any payment of money, an amount in cash, sufficient, (in the case of a
deposit of U.S. Government Obligations or Foreign Government Obligations or a combination of money and such obligations ,in the opinion of a nationally recognized firm of certified independent public accountants or investment bank expressed in a
written certification thereof delivered to the Trustee), to pay and discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of all of the Securities of such Series on the dates such
installments of interest or principal and such sinking fund payments are due; 
 (b) such deposit will not result in a breach or violation
of, or constitute a default under, this Indenture or any other agreement or instrument to which an Issuer is a party or by which it is bound; 

(c) no Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such
deposit or during the period ending on the 91st day after such date; 

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

 (e) the Issuers shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made by the Issuers
with the intent of defeating, hindering, delaying or defrauding any other creditors of the Issuers; and 
 (f) the Issuers shall have
delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to the defeasance contemplated by this Section 8.3 have been complied with. 

Section 8.4 Covenant Defeasance. Unless this Section 8.4 is otherwise specified pursuant to
Section 2.2 to be inapplicable to Securities of any Series, the Issuers may omit to comply with respect to the Securities of any Series with any term, provision or condition set forth under Sections 4.2,
4.3, 4.4 and 5.1 as well as any additional covenants specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to
Section 2.2 (and the failure to comply with any such covenants shall not constitute a Default or Event of Default with respect to such Series under Section 6.1) and the occurrence of any event
specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to Section 2.2.18 and designated as an Event of Default shall not constitute a
Default or Event of Default hereunder, with respect to the Securities of such Series, but, except as specified above, the remainder of this Indenture and such Securities will be unaffected thereby; provided that the following conditions shall
have been satisfied: 
 (a) With reference to this Section 8.4, the Issuers have deposited or caused to be
irrevocably deposited (except as provided in Section 8.2(c)) with the Trustee as trust funds in trust for the purpose of making the following payments specifically pledged as security for, and dedicated solely to the
benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign
Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof, in accordance with their terms, will provide (and without reinvestment), not later than
one day before the due date of any payment of money, an amount in cash, sufficient, (in the case of a deposit of U.S. Government Obligations or Foreign Government Obligations or a combination of money and such obligations in the opinion of a
nationally recognized firm of independent certified public accountants or investment bank expressed in a written certification thereof delivered to the Trustee), to pay and discharge each installment of principal of and interest, if any, on and any
mandatory sinking fund payments in respect of all of the Securities of such Series on the dates such installments of interest or principal and such sinking fund payments are due; 

  
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 (b) Such deposit will not result in a breach or violation of, or constitute a default
under, this Indenture or any other agreement or instrument to which an Issuer is a party or by which it is bound; 
 (c) No Default or Event
of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit; 
 (d) The
Issuers shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that (i) the company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since
the date of execution of this Indenture, there has been a change in the applicable Federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm, subject to the customary exclusions, that the
Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit, covenant defeasance and discharge and will be subject to Federal income tax on the same amount and in the
same manner and at the same times as would have been the case if such deposit, covenant and discharge defeasance had not occurred; 
 (e)
The Issuers shall have delivered to the Trustee an Officer’s Certificate stating the deposit was not made by the Issuers with the intent of defeating, hindering, delaying or defrauding any other creditors of the Issuers; and 

(f) The Issuers shall have 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 covenant defeasance contemplated by this Section 8.4 have been complied with. 

Section 8.5 Repayment to Issuers. Subject to applicable abandoned property law, the Trustee and the Paying Agent shall pay
to the Issuers upon request any money held by them for the payment of principal and interest that remains unclaimed for two years. After that, the Securityholders entitled to the money must look to the Issuers for payment as general creditors unless
an applicable abandoned property law designates another person. 
 Section 8.6 Reinstatement. If the Trustee or the
Paying Agent is unable to apply any money deposited with respect to Securities of any Series in accordance with Section 8.1 by reason of any legal proceeding or by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application, the obligations of the Issuers under this Indenture with respect to the Securities of such Series and under the Securities of such Series shall be revived and
reinstated as though no deposit had occurred pursuant to Section 8.1 until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with Section 8.1;
provided, however, that if the Issuers have made payment of principal of or interest on or any Additional Amounts with respect to any Securities because of the reinstatement of its obligations, the Issuers shall be subrogated to the
rights of the Holders of such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent after payment in full to the Holders. 

 

  
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 ARTICLE 9 

AMENDMENTS AND WAIVERS 

Section 9.1 Without Consent of Holders. The Issuers, any Guarantors and the Trustee may amend or supplement this Indenture
or the Securities of one or more Series without the consent of any Securityholder: 
 (a) to cure any ambiguity, defect or inconsistency;

 (b) to comply with Article 5; 

(c) to provide for uncertificated Securities in addition to or in place of certificated Securities; 

(d) to surrender any of the Issuers’ rights or powers under this Indenture; 

(e) to add covenants or events of default for the benefit of the holders of Securities of any Series; 

(f) to comply with the applicable procedures of the applicable Depositary; 

(g) to make any change that does not adversely affect the rights of any Securityholder as determined in good faith by the Issuers, as
evidenced in an Officer’s Certificate delivered to the Trustee; 
 (h) to provide for the issuance of and establish the form and terms
and conditions of the Securities of any Series as permitted by this Indenture; 
 (i) to evidence and provide for the acceptance of
appointment hereunder by a successor Trustee with respect to the Securities of one or more Series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts
hereunder by more than one Trustee; 
 (j) to comply with requirements of the SEC in order to effect or maintain the qualification of this
Indenture under the TIA; 
 (k) to reflect the release of any Guarantor in accordance with the terms of the Indenture; 

(l) to add Guarantors with respect to any or all of the Securities or to secure any or all of the Securities of the Guarantee; or 

(m) to conform the Indenture, a series of Securities, and any Notation of Guarantee to any provision of the “Description of
Securities” section or any subsequent description of securities contained in any prospectus supplement to the extent that such provision in the “Description of Securities” or any subsequent description of securities contained in any
prospectus supplement is intended to be a verbatim recitation of a provision of this indenture, the Securities or the Notation Guarantees, as applicable. 
  

  
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 Section 9.2 With Consent of Holders. The Issuers, any Guarantors and the
Trustee may enter into a supplemental indenture with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities of each Series affected by such supplemental indenture (including consents obtained in
connection with a tender offer or exchange offer for the Securities of such Series), for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of
modifying in any manner the rights of the Securityholders of each such Series. Except as provided in Section 6.13, the Holders of at least a majority in principal amount of the outstanding Securities of any Series by notice
to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series) may waive compliance by the Issuers with any provision of this Indenture or the Securities with respect to such
Series. 
 It shall not be necessary for the consent of the Holders of Securities under this Section 9.2 to
approve the particular form of any proposed supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof. After a supplemental indenture or waiver under this Section 9.2
becomes effective, the Issuers shall deliver to the Holders of Securities affected thereby, a notice briefly describing the supplemental indenture or waiver. Any failure by the Issuers to deliver or publish such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such supplemental indenture or waiver. 
 Section 9.3
Limitations. Without the consent of each affected Securityholder, an amendment or waiver may not: 
 (a) reduce the principal
amount of the Securities whose Holders must consent to an amendment, supplement or waiver; 
 (b) reduce the rate of or extend the time for
payment of interest (including default interest) on any Security; 
 (c) reduce the principal or change the Stated Maturity of any Security
or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation; 
 (d) reduce the
principal amount of the Discount Securities payable upon acceleration of the maturity thereof; 
 (e) waive a Default or Event of Default in
the payment of the principal of or interest, if any, on any Security (except a rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and a
waiver of the payment default that resulted from such acceleration); 
 (f) make the principal of or interest, if any, on any Security
payable in any currency other than that stated in the Security; 
 (g) make any change in Sections 6.8 or
6.13 or this clause (g); or 
 (h) waive a redemption payment with respect to any Security, provided
that such redemption is made at the Issuers’ option. 

  
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 Section 9.4 Compliance with Trust Indenture Act. Every amendment to this
Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto that complies with the TIA as then in effect. 

Section 9.5 Revocation and Effect of Consents. Until an amendment is set forth in a supplemental indenture or a waiver
becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if
notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the notice of revocation before the date of the
supplemental indenture or the date the waiver becomes effective. 
 Any amendment or waiver once effective shall bind every Securityholder
of each Series affected by such amendment or waiver unless it is of the type described in any of clauses (a) through (h) of Section 9.3. In that case, the amendment or waiver shall bind
each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security. 

The Issuers may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give their consent or
take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Holders at such record date (or their
duly designated proxies), and only those persons, shall be entitled to give such consent or to revoke any consent previously given or take any such action, whether or not such Persons continue to be Holders after such record date. No such consent
shall be valid or effective for more than 120 days after such record date. 
 Section 9.6 Notation on or Exchange of
Securities. The Issuers or the Trustee may place an appropriate notation about an amendment or waiver on any Security of any Series thereafter authenticated. The Issuers in exchange for the Securities of that Series may issue and the Trustee
shall authenticate upon request new Securities of that Series that reflect the amendment or waiver. 
 Section 9.7 Trustee
Protected. In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and
(subject to Section 7.1) shall be fully protected in relying upon, an Opinion of Counsel and an Officer’s Certificate that the supplemental indenture is authorized or permitted by the this Indenture and that all
conditions precedent with respect to its execution and delivery contained in the Indenture have been satisfied as provided in Section 12.4. The Trustee shall sign all supplemental indentures upon delivery of such an
Officer’s Certificate and Opinion of Counsel, except that the Trustee need not sign any supplemental indenture that adversely affects its rights. 

  
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 ARTICLE 10 

GUARANTEES 

Section 10.1 Unconditional Guarantee. 

(a) Notwithstanding any provision of this Article to the contrary, the provisions of this Article shall be applicable only to, and inure
solely to the benefit of, the Securities of any Series designated, pursuant to Section 2.2.23, as entitled to the benefits of the Guarantee of each Guarantor identified in such designation and that has executed a Notation
of Guarantee with respect to such Series. 
 (b) For value received, each Guarantor hereby, jointly and severally, fully, unconditionally
and absolutely guarantees (the “Guarantee”) to the Holders and to the Trustee the due and punctual payment of the principal of and interest on each Series of Securities for which such Guarantor has executed a Notation of
Guarantee with respect to such Series and all other amounts due and payable under this Indenture and the Securities of such Series by the Issuers, when and as such principal and interest shall become due and payable, whether at the Stated Maturity
or by declaration of acceleration, call for redemption or otherwise, according to the terms of such Securities and this Indenture, subject to the limitations set forth in Section 10.3. 

(c) Failing payment when due of any amount guaranteed pursuant to the Guarantee, for whatever reason, each of the Guarantors will be jointly
and severally obligated to pay the same immediately. Each of the Guarantors hereby agrees that its obligations hereunder shall be full, unconditional and absolute, irrespective of the validity, regularity or enforceability of the Securities, the
Guarantee (including the Guarantee of any other Guarantor) or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Securities with respect to any provisions hereof or thereof, the recovery of any
judgment against either Issuer or any other Guarantor, or any action to enforce the same or any other circumstances which might otherwise constitute a legal or equitable discharge or defense of any of the Guarantors. Each Guarantor hereby agrees
that, in the event of a default in payment of the principal of or interest on the Securities entitled to the Guarantee of such Guarantor, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise, legal
proceedings may be instituted by the Trustee on behalf of the Holders or, subject to Section 6.7, by the Holders, on the terms and conditions set forth in this Indenture, directly against such Guarantor to enforce the
Guarantee without first proceeding against the Issuers or any other Guarantor. 
 (d) Each Guarantor hereby (i) waives diligence,
presentment, demand of payment, filing of claims with a court in the event of the merger, insolvency or bankruptcy of either Issuer or any of the Guarantors, and all demands whatsoever and (ii) acknowledges that any agreement, instrument or
document evidencing the Guarantee may be transferred and that the benefit of its obligations hereunder shall extend to each holder of any agreement, instrument or document evidencing the Guarantee without notice to it. Each Guarantor further agrees
that, if at any time all or any part of any payment theretofore applied by any person to the Guarantee is, or must be, rescinded or returned for any reason whatsoever, including, without limitation, the insolvency, bankruptcy or reorganization of
either Issuer or any of the Guarantors, the Guarantee shall, to the extent that such payment is or must be rescinded or returned, be deemed to have continued in existence notwithstanding such application, and the Guarantee shall continue to be
effective or be reinstated, as the case may be, as though such application had not been made. 
 (e) Each Guarantor shall be subrogated to
all rights of the Holders and the Trustee against the Issuers in respect of any amounts paid by such Guarantor pursuant to the provisions of this Indenture; provided, however, that such Guarantor shall not be entitled to enforce

  
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or to receive any payments arising out of, or based upon, such right of subrogation until all of the Securities entitled to the Guarantee of such Guarantor and the Guarantee shall have been paid
in full or discharged. 
 Section 10.2 Execution and Delivery of Notation of Guarantee. To evidence the Guarantee of a
Guarantor of a Series of Securities, a Notation of Guarantee, executed by either manual or facsimile signature of an Officer of such Guarantor, shall be affixed on each Security entitled to the benefits of the Guarantee of such Guarantor. If any
Officer of any Guarantor whose signature is on a Notation of Guarantee no longer holds that office at the time the Trustee authenticates a Security to which such Notation of Guarantee is affixed or at any time thereafter, the Guarantee of such
Security shall be valid nevertheless. 
 Each Guarantor of a series of Securities hereby agrees that its Guarantee as provided in
Section 10.1 hereof will remain in full force and effect notwithstanding any failure to endorse each the applicable series of Securities with a Notation of Guarantee. 

Section 10.3 Limitation on Guarantors’ Liability. Each Guarantor by its acceptance hereof
and each Holder of a Security entitled to the benefits of the Guarantee hereby confirms that it is the intention of all such parties that the guarantee by such Guarantor pursuant to the Guarantee not constitute a fraudulent transfer or conveyance
for purposes of any federal or state law. To effectuate the foregoing intention, each Holder of a Security entitled to the benefits of the Guarantee and each Guarantor hereby irrevocably agrees that the obligations of each Guarantor under the
Guarantee shall be limited to the maximum amount as will, after giving effect to all other contingent and fixed liabilities of such Guarantor and to any collections from or payments made by or on behalf of any other Guarantor in respect of the
obligations of such other Guarantor under the Guarantee, not result in the obligations of such Guarantor under the Guarantee constituting a fraudulent conveyance or fraudulent transfer under federal or state law. 

Section 10.4 Release of Guarantors from Guarantee. 

(a) Notwithstanding any other provisions of this Indenture, the Guarantee of any Guarantor may be released upon the terms and subject to the
conditions set forth in Sections 8.1 and 8.3 and in this Section 10.4. Provided that no Default shall have occurred and shall be continuing under this Indenture, the Guarantee
incurred by a Guarantor pursuant to this Article shall be unconditionally released and discharged (i) automatically upon (1) any sale, exchange or transfer, whether by way of merger or otherwise, to any person that is not an Affiliate of
the Partnership, of all of the Partnership’s direct or indirect equity interests in such Guarantor (provided such sale, exchange or transfer is not prohibited by this Indenture) or (2) the merger of such Guarantor into an Issuer or
any other Guarantor or the liquidation and dissolution of such Guarantor (in each case to the extent not prohibited by this Indenture) or (ii) with respect to any Series of Securities, upon the occurrence of any other condition set forth in the
Board Resolution, the supplemental indenture or the Officer’s Certificate establishing the terms of such Series. 
 (b) Upon receipt of
a written request of the Issuers accompanied by an Officer’s Certificate and an Opinion of Counsel to the effect that any Guarantor is entitled to release from the Guarantee in accordance with the provisions of this Indenture, the Trustee shall
deliver an appropriate instrument evidencing the release of such Guarantor from the Guarantee. Any 

  
 39 

 
Guarantor not so released shall remain liable for the full amount of principal of and interest on the Securities entitled to the benefits of the Guarantee as provided in this Indenture, subject
to the limitations of Section 10.3. 
 Section 10.5 Mutilated, Destroyed, Lost and Stolen Notations of
Guarantee. If any mutilated Notation of Guarantee affixed to any Security is surrendered to the Trustee, the Guarantor that executed such Notation of Guarantee shall execute and deliver in exchange therefor a new Notation of Guarantee with
respect to such Security. 
 If there shall be delivered to the Issuers and the Trustee (a) evidence to their satisfaction of the
destruction, loss or theft of any Notation of Guarantee by a holder of a Security to which such Notation of Guarantee was originally affixed and (b) such security or indemnity as may be required by them to save each of them and any agent of
either of them and the applicable Guarantor harmless, then the applicable Guarantor shall execute, in lieu of any such destroyed, lost or stolen Notation of Guarantee, a new Notation of Guarantee with respect to such Security. 

Upon the issuance of any new Notation of Guarantee under this Section 10.5, the Issuers may require the payment of a
sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 

Every new Notation of Guarantee issued pursuant to this Section 10.5 in lieu of any destroyed, lost or stolen
Notation of Guarantee shall constitute an original additional contractual obligation of the applicable Guarantor, whether or not the destroyed, lost or stolen Notation of Guarantee shall be at any time enforceable by anyone, and shall be entitled to
all the benefits of this Indenture. 
 The provisions of this Section 10.5 are exclusive and shall preclude (to
the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notations of Guarantee. 

ARTICLE 11 
 SINKING
FUNDS 
 Section 11.1 Applicability of Article. The provisions of this Article shall be applicable to any sinking
fund for the retirement of the Securities of a Series if so provided by the terms of such Securities pursuant to Section 2.2 except as otherwise permitted or required by any form of the Security of such Series issued
pursuant to this Indenture. 
 The minimum amount of any sinking fund payment provided for by the terms of the Securities of any Series is
herein referred to as a “mandatory sinking fund payment” and any other amount provided for by the terms of the Securities of such Series is herein referred to as an “optional sinking fund payment.” If
provided for by the terms of the Securities of any Series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 11.2. Each sinking fund payment shall be applied to the redemption of
the Securities of any Series as provided for by the terms of the Securities of such Series. 
  

  
 40 

 Section 11.2 Satisfaction of Sinking Fund Payments with Securities. The
Issuers may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of any Series to be made pursuant to the terms of such Securities, (a) deliver the outstanding Securities of such Series to which such
sinking fund payment is applicable (other than any of such Securities previously called for mandatory sinking fund redemption) and (b) apply as credit the Securities of such Series to which such sinking fund payment is applicable and which have
been repurchased or redeemed either at the election of the Issuers pursuant to the terms of such Series of Securities (except pursuant to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or other
optional redemptions pursuant to the terms of such Securities, provided that such Securities have not been previously so credited. Such Securities shall be received by the Trustee, together with an Officer’s Certificate with respect
thereto, not later than 15 days prior to the date on which the Trustee begins the process of selecting the Securities for redemption, and shall be credited for such purpose by the Trustee at the price specified in such Securities for redemption
through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. If, as a result of the delivery or credit of the Securities in lieu of cash payments pursuant to this
Section 11.2, the principal amount of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call the Securities of such Series for
redemption, except upon receipt of an Issuer Order that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided, however, that the
Trustee or such Paying Agent shall from time to time upon receipt of an Issuer Order pay over and deliver to the Issuers any cash payment so being held by the Trustee or such Paying Agent upon delivery by the Issuers to the Trustee of the Securities
of that Series purchased by the Issuers having an unpaid principal amount equal to the cash payment required to be released to the Issuers. 

Section 11.3 Redemption of Securities for Sinking Fund. Not less than 45 days (unless otherwise indicated in the Board
Resolution, supplemental indenture hereto or Officer’s Certificate in respect of a particular Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Issuers will deliver to the Trustee an Officer’s
Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that Series pursuant to the terms of that Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any,
which is to be satisfied by delivering and crediting of the Securities of that Series pursuant to Section 11.2, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and
the Issuers shall thereupon be obligated to pay the amount therein specified. Not less than 30 days (unless otherwise indicated in the Board Resolution, Officer’s Certificate or supplemental indenture in respect of a particular Series of
Securities) before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.2 and cause notice of the redemption
thereof to be given in the name of and at the expense of the Issuers in the manner provided in Section 3.3. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the
manner stated in Sections 3.4, 3.5 and 3.6. 
 ARTICLE 12 

MISCELLANEOUS 

Section 12.1 Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies, or conflicts with another
provision which is required or deemed to be included in this Indenture by the TIA, such required or deemed provision shall control. 

  
 41 

 Section 12.2 Notices. Any notice or communication by the Issuers, the
Guarantors or the Trustee to the other, or by a Holder to the Issuers, the Guarantors or the Trustee, is duly given if in writing and delivered in person or mailed by first-class mail (registered or certified, return receipt requested), facsimile
transmission, email or overnight air courier guaranteeing next day delivery, to the others’ address: 
 if to the Issuers or any Guarantor: 

Sunoco GP LLC 
 8111 Westchester
Drive, Suite 400 
 Dallas, Texas 75225 

Attention: Thomas R. Miller 

Telephone: (214) 981-0700 

with a copy to: 
 Vinson &Elkins L.L.P.

 1001 Fannin Street, Suite 2500 

Houston, Texas 77002 
 Attention:
Lande Spottswood 
                  E. Ramey Layne 

Telephone: (713) 758-2222 

if to the Trustee: 
 U.S. Bank National
Association 
 Global Corporate Trust Services 

8 Greenway Plaza, Suite 1100 

Houston, Texas 77046 
 Attention:
Alejandro Hoyos 
 Telephone: (713) 212-7576 

The Issuers, any Guarantor or the Trustee by notice to the others may designate additional or different addresses for subsequent notices or
communications. 
 Any notice or communication to a Securityholder shall be sent electronically or by first-class mail to its address shown
on the register kept by the Registrar. Failure to send a notice or communication as provided above to a Securityholder of any Series or any defect in it shall not affect its sufficiency with respect to other Securityholders of that or any other
Series. 
 If a notice or communication is sent or published in the manner provided above, within the time prescribed, it is duly given,
whether or not the Securityholder receives it. 
 If the Issuers send a notice or communication to Securityholders, they shall mail a copy
to the Trustee and each Agent at the same time. 

  
 42 

 Notwithstanding any other provision of this Indenture or any Security, where this Indenture
or any Security provides for notice of any event (including any notice of redemption) to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given to the Depositary for such Security (or its designee)
pursuant to the customary procedures of such Depositary. 
 Section 12.3 Communication by Holders with Other Holders. The
Securityholders of any Series may communicate pursuant to TIA § 312(b) with the other Securityholders of that Series or any other Series with respect to their rights under this Indenture or the Securities of that Series or all Series. The
Issuers, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 
 Section 12.4 Certificate
and Opinion as to Conditions Precedent. Upon any request or application by the Issuers to the Trustee to take any action under this Indenture, the Issuers shall furnish to the Trustee: 

(a) an Officer’s Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this
Indenture relating to the proposed action have been complied with; and 
 (b) an Opinion of Counsel stating that, in the opinion of such
counsel, all such conditions precedent have been complied with. 
 Section 12.5 Statements Required in Certificate or
Opinion. Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA §
314(e) and shall include: 
 (a) a statement that the person making such certificate or opinion has read such covenant or condition; 

(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such
certificate or opinion are based; 
 (c) a statement that, in the opinion of such person, he has made such examination or investigation as
is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (d)
a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with. 
 Section 12.6
Rules by Trustee and Agents. The Trustee may make reasonable rules for action by or a meeting of the Securityholders of one or more Series. Any Agent may make reasonable rules and set reasonable requirements for its functions. 

 

  
 43 

 Section 12.7 Legal Holidays. Unless otherwise provided by Board
Resolution, Officer’s Certificate or supplemental indenture hereto for a particular Series, a “Legal Holiday” is any day that is not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment may
be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. 

Section 12.8 No Recourse Against Others. A director, officer, employee, unitholder or stockholder (past or present), as
such, of the Issuers, the general partner of the Partnership or their respective Affiliates, or a Guarantor shall not have any liability for any obligations of the Issuers under the Securities, the Guarantee or this Indenture or for any claim based
on, in respect of or by reason of such obligations or their creation. Each Securityholder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Securities. 

Section 12.9 Counterparts. This Indenture may be executed in any number of counterparts and by the parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF
transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be
deemed to be their original signatures for all purposes. 
 Section 12.10 Governing Laws. THIS INDENTURE AND THE
SECURITIES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR THE SECURITIES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICTS OF LAWS PROVISIONS THEREOF OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW). 
 Section 12.11 No Adverse Interpretation of Other
Agreements. This Indenture may not be used to interpret another indenture, loan or debt agreement of the Issuers or a Subsidiary of the Partnership. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

Section 12.12 Successors. All agreements of the Issuers and the Guarantors in this Indenture and the Securities shall bind
their respective successors. All agreements of the Trustee in this Indenture shall bind its successor. 
 Section 12.13
Severability. In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired
thereby. 
 Section 12.14 Table of Contents, Headings, Etc. The Table of Contents, Cross Reference Table, and headings of
the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

 

  
 44 

 Section 12.15 Securities in a Foreign Currency. Unless otherwise
specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a particular Series of Securities, whenever for purposes
of this Indenture any action may be taken by the Holders of a specified percentage in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time outstanding and, at such time, there are
outstanding Securities of any Series which are denominated in more than one currency, then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such action shall be determined by
converting any such other currency into a currency that is designated upon issuance of any particular Series of Securities. Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered
pursuant to Section 2.2 of this Indenture with respect to a particular Series of Securities, such conversion shall be at the spot rate for the purchase of the designated currency as published in The Financial Times in the
“Currency Rates” section (or, if The Financial Times is no longer published, or if such information is no longer available in The Financial Times, such source as may be selected in good faith by the Issuers) on any date of determination.
The provisions of this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a Series denominated in currency other than Dollars in connection with any action taken by Holders of Securities pursuant to the
terms of this Indenture. 
 All decisions and determinations provided for in the preceding paragraph shall, in the absence of manifest
error, to the extent permitted by law, be conclusive for all purposes and irrevocably binding upon the Trustee and all Holders. 

Section 12.16 Waiver of Jury Trial. EACH OF THE ISSUERS, THE GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THE INDENTURE, THE SECURITIES OF ANY SERIES OR THE TRANSACTION CONTEMPLATED HEREBY. 

Section 12.17 Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances,
nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent
with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 Section 12.18
Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is
required to obtain, verify and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such
information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act. 
 Section 12.19
Act of Holders. 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 

  
 45 

 
such Holders in person or by 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 Issuers. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of 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 conclusive in favor of the Trustee, the Issuers and the Guarantors, if made
in the manner provided in this Section 12.19. 
 The fact and date of the execution by any person of any such
instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or
writing acknowledged to such officer the execution thereof. Where such execution is by a signer acting in a capacity other than such signer’s individual capacity, such certificate or affidavit shall also constitute sufficient proof of such
signer’s authority. The fact and date of the execution of any such instrument or writing, or the authority of the person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 

The ownership of Securities of any Series shall be proved by the Holder list maintained under Section 2.6 hereunder.

 Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of Securities of any Series shall bind
every future Holder of the same Securities and the holder of each Securities of any Series issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the
Trustee or the Issuers in reliance thereon, whether or not notation of such action is made upon such Securities. 
 If the Issuers shall
solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other Act, the Issuers may, at their option, by or pursuant to a Board Resolution, fix in advance a record date for the determination of Holders
entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Issuers shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice,
consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the close of business on such record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite
proportion of outstanding Securities of any Series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the outstanding Securities of such Series shall
be computed as of such record date; provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later
than six months after the record date. 
 The Depositary, as a Holder, may appoint agents and otherwise authorize participants to give or
take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under this Indenture. 

  
 46 

 Section 12.20 Judgment Currency. The Issuers agree, to the fullest extent
that they may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of or interest or other amount on the Securities of any
Series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking
procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a New York Banking Day, then the rate of exchange used
shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final unappealable
judgment is entered and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance
with subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency
expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall
short of the full amount of the Required Currency so expressed to be payable, and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking
Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close. 

  
 47 

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

			
	ISSUERS:
	
	SUNOCO LP
	
	By: Sunoco GP LLC, its general partner
		
	By:	 	  

		 	Name:
		 	Its:
	
	SUNOCO FINANCE CORP.
		
	By:	 	  

		 	Name:
		 	Its:

 
			
	TRUSTEE:
	
	U.S. BANK NATIONAL ASSOCIATION
	as Trustee
		
	By:	 	  

		 	Name:
		 	Its:

 EXHIBIT A 

Each of the Guarantors (which term includes any successor Person under the Indenture), has fully, unconditionally and absolutely guaranteed,
to the extent set forth in the Indenture and subject to the provisions in the Indenture, the due and punctual payment of the principal of, and premium, if any, and interest on the Debt Securities and all other amounts due and payable under the
Indenture and the Debt Securities by the Issuers. 
 The obligations of the Guarantors to the Holders of Debt Securities and to the Trustee
pursuant to the Guarantee and the Indenture are expressly set forth in Article 10 of the Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. 

 

			
	[SUBSIDIARY GUARANTORS]
		
	By:	 	  

		 	Name:
		 	Title:

  
 A-1

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