Document:

Exhibit 4.1

 

EXECUTION
VERSION

 

TRINITY CAPITAL INC.,

 

Issuer

 

and

 

U.S. BANK NATIONAL ASSOCIATION,

 

Trustee

 

 

 

Second Supplemental Indenture

 

Dated as of December 11, 2020

 

to Indenture

 

Dated as of January 16, 2020

 

 

 

Providing for the Issuance

 

of

 

6.00% Convertible Notes due 2025

 

 

 

    

     

    

 

	 	Table of Contents	 
	 	 	 	 	 
	 	 	 	 	Page
	 	 	 	 	 
	ARTICLE 1.             DEFINITIONS 	2
	 	Section 1.01.	 	Definitions.	2
	 	Section 1.02.	 	References to Interest	10
	ARTICLE 2.             ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES	10
	 	Section 2.01.	 	Scope of Supplemental Indenture	10
	 	Section 2.02.	 	Designation and Amount	11
	 	Section 2.03.	 	Form of Notes	11
	 	Section 2.04.	 	Date and Denomination of Notes; Payments of Interest and Defaulted Amounts	13
	 	Section 2.05.	 	Execution, Authentication and Delivery of Notes	14
	 	Section 2.06.	 	Exchange and Registration of Transfer of Notes; Depositary	16
	 	Section 2.07.	 	Mutilated, Destroyed, Lost or Stolen Notes	18
	 	Section 2.08.	 	Temporary Notes	19
	 	Section 2.09.	 	Cancellation of Notes Paid, Converted, Etc.	19
	 	Section 2.10.	 	CUSIP Numbers	19
	 	Section 2.11.	 	Additional Notes; Repurchases	20
	ARTICLE 3.             SATISFACTION AND DISCHARGE	20
	 	Section 3.01.	 	Satisfaction and Discharge	20
	ARTICLE 4.             PARTICULAR COVENANTS OF THE COMPANY	20
	 	Section 4.01.	 	Covenants	20
	ARTICLE 5.             LISTS OF HOLDERS AND REPORTS BY THE COMPANY AND THE TRUSTEE	22
	 	Section 5.01.	 	Lists of Holders	22
	 	Section 5.02.	 	Preservation and Disclosure of Lists	22
	ARTICLE 6.             DEFAULTS AND REMEDIES	22
	 	Section 6.01.	 	Events of Default	22
	 	Section 6.02.	 	Acceleration; Rescission and Annulment	24
	 	Section 6.03.	 	Additional Interest	24
	 	Section 6.04.	 	Payments of Notes on Default; Suit Therefor	25
	 	Section 6.05.	 	Application of Monies Collected by Trustee	26
	 	Section 6.06.	 	Proceedings by Holders	26
	 	Section 6.07.	 	Proceedings by Trustee	27
	 	Section 6.08.	 	Remedies Cumulative and Continuing	27
	 	Section 6.09.	 	Direction of Proceedings and Waiver of Defaults by Majority of Holders	28

 

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	 	Table of Contents	 
	 	(continued)	 
	 	 	 	 	 
	 	 	 	 	Page
	 	 	 	 	 
	 	Section 6.10.	 	Notice of Defaults	28
	 	Section 6.11.	 	Undertaking for Costs	28
	ARTICLE 7.             CONCERNING THE TRUSTEE	28
	 	Section 7.01.	 	Duties and Responsibilities of Trustee	28
	 	Section 7.02.	 	Reliance on Documents, Opinions, Etc.	30
	 	Section 7.03.	 	No Responsibility for Recitals, Etc.	31
	 	Section 7.04.	 	Trustee, Paying Agents, Conversion Agents or Note Registrar May Own Notes	31
	 	Section 7.05.	 	Monies to Be Held in Trust	31
	 	Section 7.06.	 	Compensation and Expenses of Trustee	32
	 	Section 7.07.	 	Officers’ Certificate as Evidence	32
	ARTICLE 8.             CONCERNING THE HOLDERS	32
	 	Section 8.01.	 	Action by Holders	32
	 	Section 8.02.	 	Proof of Execution by Holders	33
	 	Section 8.03.	 	Who Are Deemed Absolute Owners	33
	 	Section 8.04.	 	Company-Owned Notes Disregarded	33
	 	Section 8.05.	 	Revocation of Consents; Future Holders Bound	34
	ARTICLE 9.             HOLDERS’ MEETINGS	34
	 	Section 9.01.	 	Purpose of Meetings	34
	 	Section 9.02.	 	Call of Meetings by Trustee	34
	 	Section 9.03.	 	Call of Meetings by Company or Holders	34
	 	Section 9.04.	 	Qualifications for Voting	35
	 	Section 9.05.	 	Regulations	35
	 	Section 9.06.	 	Voting	35
	 	Section 9.07.	 	No Delay of Rights by Meeting	35
	ARTICLE 10.           SUPPLEMENTAL INDENTURES	36
	 	Section 10.01.	 	Supplemental Indentures without Consent of Holders	36
	 	Section 10.02.	 	Supplemental Indentures with Consent of Holders	36
	 	Section 10.03.	 	Effect of Supplemental Indentures	37
	 	Section 10.04.	 	Notation on Notes	37
	 	Section 10.05.	 	Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee	38
	ARTICLE 12.           IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	38
	 	Section 12.01.	 	Indenture and Notes Solely Corporate Obligations	38

 

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	 	Table of Contents	 
	 	(continued)	 
	 	 	 	 	 
	 	 	 	 	Page
	 	 	 	 	 
	ARTICLE 13.           CONVERSION OF NOTES	38
	 	Section 13.01.	 	Conversion Privilege	38
	 	Section 13.02.	 	Conversion Procedure; Settlement Upon Conversion	38
	 	Section 13.03.	 	Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Adjustment Events	40
	 	Section 13.04.	 	Adjustment of Conversion Rate	42
	 	Section 13.05.	 	Adjustments of Prices	49
	 	Section 13.06.	 	[Reserved].	49
	 	Section 13.07.	 	Shares to Be Fully Paid	49
	 	Section 13.08.	 	Effect of Recapitalizations, Reclassifications and Changes of the Common Stock	49
	 	Section 13.09.	 	Certain Covenants	50
	 	Section 13.10.	 	Responsibility of Trustee.	51
	 	Section 13.11.	 	Notice to Holders Prior to Certain Actions	51
	 	Section 13.12.	 	Stockholder Rights Plans	52
	ARTICLE 14.           PURCHASE OF NOTES AT OPTION OF HOLDERS	52
	 	Section 14.01.	 	Purchase at Option of Holders upon a Fundamental Change	52
	 	Section 14.02.	 	Withdrawal of Fundamental Change Purchase Notice	54
	 	Section 14.03.	 	Deposit of Fundamental Change Purchase Price	54
	 	Section 14.04.	 	Covenant to Comply with Applicable Laws Upon Purchase of Notes	55
	ARTICLE 15.           FORCED CONVERSION	55
	 	Section 15.01.	 	Forced Conversion	55
	 	Section 15.02.	 	Notice of Forced Conversion; Selection of Notes	56
	 	Section 15.03.	 	Delivery of Shares and/or Cash on the Forced Conversion Date	57
	 	Section 15.04.	 	Restrictions on Forced Conversion	57
	ARTICLE 16.           MISCELLANEOUS PROVISIONS	57
	 	Section 16.01.	 	Provisions Binding on Company’s Successors	57
	 	Section 16.02.	 	Official Acts by Successor Corporation	57
	 	Section 16.03.	 	Addresses for Notices, Etc.	57
	 	Section 16.04.	 	Governing Law; Jurisdiction	58
	 	Section 16.05.	 	Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee	58
	 	Section 16.06.	 	Legal Holidays	58
	 	Section 16.07.	 	No Security Interest Created	58
	 	Section 16.08.	 	Benefits of Indenture	59

 

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	 	 	 	TABLE OF CONTENTS	 
	 	 	 	(continued)	 
	 	 	 	 	 
	 	 	 	 	Page
	 	 	 	 	 
	 	Section 16.09.	 	Table of Contents, Headings, Etc.	59
	 	Section 16.10.	 	Authenticating Agent	59
	 	Section 16.11.	 	Execution in Counterparts	60
	 	Section 16.12.	 	Severability	60
	 	Section 16.13.	 	Waiver of Jury Trial	60
	 	Section 16.14.	 	Force Majeure	60
	 	Section 16.15.	 	Calculations	60
	 	Section 16.16.	 	USA PATRIOT Act	61

 

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SECOND SUPPLEMENTAL INDENTURE

 

SECOND SUPPLEMENTAL INDENTURE dated as of
December 11, 2020 (the “Supplemental Indenture”) between TRINITY CAPITAL INC., a Maryland corporation,
as issuer (the “Company,” as more fully set forth in Section 1.01), and U.S. BANK NATIONAL ASSOCIATION,
as trustee (the “Trustee,” as more fully set forth in Section 1.01), supplementing the Indenture,
dated as of January 16, 2020, between the Company and the Trustee (the “Base Indenture” and the Base Indenture,
as amended and supplemented by this Supplemental Indenture, and as it may be further amended or supplemented from time to time
with respect to the Notes, the “Indenture”). All capitalized terms used herein shall have the meaning set forth
in the Base Indenture unless otherwise defined herein.

 

THE PARTIES HERETO ENTER THIS AGREEMENT
ON THE BASIS OF THE FOLLOWING FACTS, UNDERSTANDINGS AND INTENTIONS:

 

A. The Company executed and delivered the
Base Indenture to the Trustee to provide, among other things, for the issuance, from time to time, of the Company’s Securities,
in an unlimited amount in one or more series to be established by the Company under, and authenticated and delivered as provided
in, the Base Indenture.

 

B. Sections 2.01, 3.01 and 9.01(vi) of
the Base Indenture provide that the Company, from time to time, may enter into one or more indentures supplemental to the Base
Indenture, without the consent of any Holders, to, among other things, establish the form or terms of Securities of any series
as permitted by the Base Indenture, and to provide for the issuance of such Securities, as permitted by the Base Indenture, and
to set forth the terms thereof.

 

C. For its lawful corporate purposes, the
Company has duly authorized the issuance of its 6.00% Convertible Notes due 2025 (the “Notes”), initially in
an aggregate principal amount not to exceed $50,000,000, pursuant to the Purchase/Placement Agreement, dated December 4, 2020
(the “Purchase/Placement Agreement”), between the Company and Keefe, Bruyette & Woods, Inc. in
its capacity as initial purchaser and placement agent (the “KBW”), and in order to provide the terms and conditions
upon which the Notes are to be authenticated, issued and delivered, the Company has duly authorized the execution and delivery
of this Supplemental Indenture. The Notes shall be convertible into cash, shares of common stock of the Company, par value $0.001
per share (the “Common Stock”), or a combination of cash and shares of the Common Stock, at the Company’s
election or as otherwise provided for in the Indenture.

 

D. The Form of Note, the certificate
of authentication to be borne by each Note, the Form of Notice of Conversion, the Form of Fundamental Change Purchase
Notice and the Form of Assignment and Transfer to be borne by the Notes are to be substantially in the forms hereinafter provided.

 

E. The Company confirms that the conditions
set forth in the Base Indenture for the execution and delivery of this Supplemental Indenture have been complied with.

 

F. All acts and things necessary to make
the Notes, when executed by the Company and authenticated and delivered by the Trustee or a duly authorized authenticating agent,
as herein provided, the valid, binding and legal obligations of the Company, and this Supplemental Indenture a valid agreement
according to its terms, have been done and performed, and the execution hereof and the issuance hereunder of the Notes have in
all respects been duly authorized.

 

    1

     

    

 

NOW, THEREFORE, in consideration of the
mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and adequacy of which
is hereby acknowledged by the parties hereto, the parties hereby agree as follows, and in order to declare the terms and conditions
upon which the Notes are, and are to be, authenticated, issued and delivered, and in consideration of the premises and of the purchase
and acceptance of the Notes by the Holders thereof, the Company covenants and agrees with the Trustee for the equal and proportionate
benefit of the respective Holders from time to time of the Notes (except as otherwise provided below), as follows:

 

ARTICLE 1.

DEFINITIONS

 

Section 1.01.     Definitions.

 

The terms defined in this Section 1.01
(except as herein otherwise expressly provided or unless the context otherwise requires) shall have the respective meanings specified
in this Section 1.01 and, to the extent applicable, supersede the definitions thereof in the Base Indenture. The words
 “herein,” “hereof,” “hereunder” and words of similar import (i) when used with regard
to any specified Article, Section or other subdivision, refer to such Article, Section or subdivision of this Supplemental
Indenture, and (ii) otherwise, refer to the Indenture as a whole and not to any particular Article, Section or other
subdivision. The terms defined in this Article 1 include the plural as well as the singular form.

 

“144A Global Note” means
a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the Restricted Securities Legend
and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be issued in a denomination
equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A under the Securities Act.

 

“Acceleration” shall
have the meaning specified in Section 6.01(h).

 

“Additional Interest”
means all amounts, if any, payable pursuant to Section 6.03.

 

“Additional Shares” shall
have the meaning specified in Section 13.03(a).

 

“Agent” means a Conversion
Agent or a Paying Agent.

 

“Automatic Exchange”
shall have the meaning specified in Section 2.03(f).

 

“Automatic Exchange Date”
shall have the meaning specified in Section 2.03(f).

 

“Base Indenture” shall
have the meaning specified in the first paragraph of this Supplemental Indenture.

 

“Below Investment Grade Rating
Event” means any time when the Notes are downgraded below an Investment Grade Rating by the Rating Agency or a Notes
Rating is not maintained.

 

“Beneficial Ownership Certificate”
shall have the meaning specified in Section 15.01.

 

“Board of Directors”
means the board of directors of the Company or, except for purposes of the definitions of “Change of Control” and “Continuing
Director”, a committee of such board duly authorized to act for it hereunder.

 

“Business Day” means
any day other than (x) a Saturday, (y) a Sunday or (z) a day on which state or federally chartered banking institutions
in New York, New York are not required to be open.

 

“Capital Stock” means,
for any entity, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or
interests in (however designated) stock issued by that entity.

 

A “Change in Control”
shall be deemed to have occurred if any of the following occurs after the date of this Supplemental Indenture:

 

(a) any “person”
or “group” within the meaning of Section 13(d) of the Exchange Act is or becomes the direct or indirect “beneficial
owner,” as defined in Rule 13d-3 under the Exchange Act, of shares of the Company’s voting stock representing
50% or more of the total voting power of all outstanding classes of the Company’s voting stock entitled to vote generally
in elections of directors, or has the power, directly or indirectly, to elect a majority of the Board of Directors;

 

    2

     

    

 

(b) the consummation of:
(i) any recapitalization, reclassification or change of the Common Stock (other than changes resulting from a subdivision
or combination) as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other
property or assets; (ii) any share exchange, consolidation, merger or similar transaction involving the Company pursuant to
which the Common Stock shall be converted into cash, securities or other property or assets; or (iii) any sale, lease or other
transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets of the Company and
its Subsidiaries, taken as a whole, to any Person other than one of the Company’s Wholly Owned Subsidiaries; provided,
however, that a transaction described in clause (ii) immediately above pursuant to which the Persons that “beneficially
owned,” directly or indirectly, the shares of the Company’s voting stock immediately prior to such transaction “beneficially
own,” directly or indirectly, shares of voting stock representing at least a majority of the total voting power of all outstanding
classes of voting stock of the surviving or transferee Person and such holders’ proportional voting power immediately after
such transaction vis-à-vis each other with respect to the securities they receive in such transaction shall be in
substantially the same proportions as their respective voting power vis-à-vis each other immediately prior to such
transaction shall not constitute a “Change of Control” pursuant to this clause (b);

 

(c) the first day on which
a majority of the members of the Board of Directors are not Continuing Directors; or

 

(d) the holders of Capital
Stock of the Company approve any plan or proposal for the liquidation or dissolution of the Company (whether or not in compliance
with the Indenture);

 

provided, however, that a “Change of Control”
shall not be deemed to have occurred pursuant to clause (b) of the definition of “Change of Control” above,
if at least 90% of the consideration paid for the Common Stock in the relevant transaction or transactions, excluding cash payments
for any fractional share and cash payments made pursuant to dissenters’ appraisal rights, consists of shares of common stock
traded on The New York Stock Exchange, The NASDAQ Capital Market, The NASDAQ Global Select Market or The NASDAQ Global Market (or
any of their respective successors), or will be so traded immediately following such transaction, and, as a result therefrom, such
consideration becomes Reference Property for the Notes.

 

“Clause A Distribution”
shall have the meaning specified in Section 13.04(c).

 

“Clause B Distribution”
shall have the meaning specified in Section 13.04(c).

 

“Clause C Distribution”
shall have the meaning specified in Section 13.04(c).

 

“close of business” means
5:00 p.m. (New York City time).

 

“Closing Sale Price”
of the Common Stock on any date means the closing sale price per share (or if no closing sale price is reported, the average of
the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) at 4:00
p.m. (New York City time) on that date as reported in composite transactions for the principal U.S. national or regional securities
exchange on which the Common Stock is traded.

 

“Common Stock” shall
have the meaning specified in the first paragraph of this Supplemental Indenture, subject to Section 13.08.

 

“Company” shall have
the meaning specified in the first paragraph of this Supplemental Indenture, and subject to the provisions of Article 11,
shall include its successors and assigns.

 

“Comparable Treasury Issue”
means the United States Treasury security having a maturity comparable to the Remaining Life of such Remaining Interest Payments
that would be utilized, at the time of selection and in accordance with customary financing practice, when identifying a comparable
maturity to the Remaining Life of the Remaining Interest Payments being discounted.

 

    3

     

    

 

“Continuing Director”
means, as of any date of determination, any member of the Company’s Board of Directors who (i) was a member of such
Board of Directors on the date of this Supplemental Indenture, or (ii) was nominated for election or elected to such Board
of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time
of such nomination or election.

 

“Conversion Agent” shall
mean an office or agency where the Notes may be surrendered for conversion.

 

“Conversion Consideration”
shall have the meaning specified in Section 13.02(a).

 

“Conversion Date” shall
have the meaning specified in Section 13.02(c), except with respect to a Forced Conversion, it shall mean the Forced
Conversion Date.

 

“Conversion Obligation”
shall have the meaning specified in Section 13.01.

 

“Conversion Rate” shall
have the meaning specified in Section 13.01.

 

“Conversion Price” means,
per share of Common Stock, $1,000 divided by the then-applicable Conversion Rate.

 

“Corporate Trust Office”
means the office of the Trustee or the Agent at which, at any particular time, its corporate trust business in respect of this
Indenture shall be administered, which office as of the date hereof for purposes of Section 10.02 only is located at 111 Fillmore
Avenue, St. Paul, MN 55107, Attention: Global Corporate Trust Services - Trinity Capital Inc., and for all other purposes is located
at 1 Federal Street, Boston, MA 02210, Attention: Global Corporate Trust Services - Trinity Capital Inc., 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 Company) or if at any time there is more than one trustee, means the Corporate Trust Office of any such
other trustee with respect to the Securities of the applicable series.

 

“Custodian” means the
Trustee, as custodian for The Depository Trust Company, with respect to the Global Notes, or any successor entity thereto.

 

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

 

“Defaulted Amounts” means
any amounts on any Note (including, without limitation, the Fundamental Change Purchase Price, the Forced Conversion Consideration,
principal and interest) that are payable but are not punctually paid or duly provided for.

 

“Depositary” means, with
respect to each Global Note, the Person specified in Section 2.06(c) as the Depositary with respect to such Notes,
until a successor shall have been appointed and become such pursuant to the applicable provisions of this Supplemental Indenture,
and thereafter, “Depositary” shall mean or include such successor.

 

“Discounted Value” means,
with respect to any Forced Converted Note, the amount obtained by discounting all Remaining Interest Payments with respect to such
Forced Converted Note from their respective scheduled due dates to the Forced Conversion Date with respect to such Forced Converted
Note, in accordance with accepted financial practice and at a discount factor (applied on the same periodic basis as that on which
interest on the Notes is payable) equal to the Reinvestment Yield.

 

“Effective Date” shall
have the meaning specified in Section 13.03(c), except that, as used in Section 13.04, “Effective
Date” means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market,
regular way, reflecting the relevant share split or share combination, as applicable.

 

“Event of Default” shall
have the meaning specified in Section 6.01.

 

    4

     

    

 

“Ex-Dividend Date” means
the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without
the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of
Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market.

 

“Expiration Date” shall
have the meaning specified in Section 13.04(e).

 

“Expiration Time” shall
have the meaning specified in Section 13.04(e).

 

“Forced Conversion” shall
have the meaning specified in Section 15.01.

 

“Forced Conversion Cash Settlement
Amount” means, in respect of each $1,000 principal amount of Forced Converted Notes, an amount in cash equal to the product
of Conversion Rate and the Trading Threshold Event Average.

 

“Forced Conversion Consideration”
shall have the meaning specified in Section 15.02.

 

“Forced Conversion Date”
shall have the meaning specified in Section 15.02.

 

“Forced Conversion Notice”
shall have the meaning specified in Section 15.02.

 

“Forced Conversion Notice Date”
means the date on which a Forced Conversion Notice is delivered to a Holder.

 

“Forced Conversion Make-Whole Payment”
means, with respect to any Forced Converted Note, an amount equal to the Discounted Value of the Remaining Interest Payments; provided
that the Forced Conversion Make-Whole Payment may in no event be less than zero.

 

“Forced Converted Note”
means any Note converted pursuant to a Forced Conversion Notice.

 

“Form of Assignment and Transfer”
means the “Form of Assignment and Transfer” attached as Attachment 3 to the Form of Note attached hereto
as Exhibit A.

 

“Form of Fundamental Change
Purchase Notice” means the “Form of Fundamental Change Purchase Notice” attached as Attachment 2 to
the Form of Note attached hereto as Exhibit A.

 

“Form of Note” means
the “Form of Note” attached hereto as Exhibit A.

 

“Form of Notice of Conversion”
means the “Form of Notice of Conversion” attached as Attachment 1 to the Form of Note attached hereto as
Exhibit A.

 

“Fundamental Change”
means the occurrence of either a Change in Control or, after the initial listing of the Common Stock on a national securities exchange,
a Termination of Trading.

 

“Fundamental Change Company Notice”
shall have the meaning specified in Section 14.01(c).

 

“Fundamental Change Purchase Date”
shall have the meaning specified in Section 14.01(a).

 

“Fundamental Change Purchase Notice”
shall have the meaning specified in Section 14.01(b)(i).

 

“Fundamental Change Purchase Price”
shall have the meaning specified in Section 14.01(a).

 

“GAAP” means generally
accepted accounting principles in the United States as in effect on the date hereof, without giving effect, for the avoidance of
doubt, to ASU 2016-02, Leases (Topic 842).

 

“Global Note” shall have
the meaning specified in Section 2.06(b).

 

    5

     

    

 

“Global Note Legend”
shall have the meaning specified in Exhibit A.

 

“Holder,” as applied
to any Note, or other similar terms (but excluding the term “beneficial holder”), means any Person in whose name at
the time a particular Note is registered on the Note Register.

 

“IAI Global Note” means
a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the Restricted Securities Legend
and deposited with or on behalf of and registered in the name of the Depositary or its nominee that will be issued in a denomination
equal to the outstanding principal amount of the Notes sold to Institutional Accredited Investors.

 

“Indenture” has the meaning
specified in the first paragraph of this Supplemental Indenture.

 

“Initial Dividend Threshold”
shall have the meaning specified in Section 13.04(d).

 

“Institutional Accredited Investor”
means an institution that is an “accredited investor” as defined in Rule 501(a)(1), (2), (3) or (7) under
the Securities Act, who are not also QIBs.

 

“Interest Payment Date”
means each May 1 and November 1 of each year, beginning on May 1, 2021.

 

“Investment Company Act”
means the Investment Company Act of 1940, as amended, and the rules, regulations and interpretations promulgated thereunder, to
the extent applicable, and any statute successor thereto.

 

“Investment Grade Rating”
means a rating of BBB- or better by the Rating Agency (or its equivalent, including under any successor rating categories, of the
Rating Agency).

 

“Make-Whole Adjustment Event”
means (i) any Change of Control (as defined above and determined after giving effect to any exceptions to or exclusions from
such definition, but without regard to the proviso in clause (b) of the definition thereof), and (ii) any
Termination of Trading.

 

“Maturity Date” means
December 11, 2025.

 

“Maximum Conversion Rate”
shall have the meaning specified in Section 13.03(e).

 

“NAV per share” means
the Company’s net asset value per share of Common Stock.

 

“Note” or “Notes”
shall have the meaning specified in the first paragraph of this Supplemental Indenture.

 

“Note Register” shall
have the meaning specified in Section 2.06(a).

 

“Note Registrar” shall
have the meaning specified in Section 2.06(a).

 

“Notes Rating” means
a rating on the Notes by the Rating Agency.

 

“Notice of Conversion”
shall have the meaning specified in Section 13.02(b).

 

“Offering Memorandum”
means the offering memorandum dated December 4, 2020, relating to the offering and sale of the Notes.

 

“Officer” means, with
respect to the Company, the President, the Chief Executive Officer, the Treasurer, the Secretary, General Counsel, Chief Legal
Officer, any Executive or Senior Vice President or any Vice President (whether or not designated by a number or numbers or word
or words added before or after the title “Vice President”).

 

    6

     

    

 

“Officers’ Certificate,”
means a certificate signed by the Chief Executive Officer, the President, the Chief Financial Officer or the Chief Operating Officer
and by the Chief Compliance Officer, any Vice President, the Secretary or an Assistant Secretary of the Company, and delivered
to the Trustee. Each such certificate shall include the statements provided for in Section 16.05 if and to the extent
required by the provisions of such Section.

 

“open of business” means
9:00 a.m. (New York City time).

 

“Opinion of Counsel”
means a written opinion of counsel, who may be counsel for the Company or who may be an employee of the Company or other counsel
acceptable to the Trustee. Each such opinion shall include the statements provided for in Section 16.05 if and to the
extent required by the provisions of such Section 16.05.

 

“Original Issue Date”
means December 11, 2020.

 

“outstanding,” when used
with reference to Notes, shall, subject to the provisions of Section 8.04, mean, as of any particular time, all Notes
authenticated and delivered by the Trustee under this Supplemental Indenture, except:

 

(a) Notes theretofore canceled
by the Trustee or accepted by the Trustee for cancellation;

 

(b) Notes, or portions thereof,
that have become due and payable and in respect of which monies in the necessary amount shall have been deposited in trust with
the Trustee or with any Paying Agent (other than the Company) in trust or shall have been set aside and segregated in trust by
the Company (if the Company shall act as its own Paying Agent) for the Holders of such Notes;

 

(c) Notes that have been
paid pursuant to Section 2.07 or Notes in lieu of which, or in substitution for which, other Notes shall have been
authenticated and delivered pursuant to the terms of Section 2.07 unless proof satisfactory to the Trustee is presented
that any such Notes are held by protected purchasers in due course;

 

(d) Notes converted pursuant
to Article 13 and required to be cancelled pursuant to Section 2.09; and

 

(e) Notes repurchased by
the Company pursuant to the penultimate sentence of Section 2.11.

 

“Ownership Limitation”
shall have the meaning specified in Section 13.02(k).

 

“Paying Agent” shall
mean an office or agency where the Notes may be surrendered for registration of transfer or exchange or for presentation for payment
or required purchase.

 

“Payment Default” shall
have the meaning specified in Section 6.01(h).

 

“Physical Notes” means
permanent certificated Notes in registered form issued in denominations of $1,000 principal amount and integral multiples thereof.

 

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

 

“QIB” means any “qualified
institutional buyer” as such term is defined in Rule 144A under the Securities Act.

 

“Rating Agency” means
(i) Egan-Jones Ratings Company, and (2) if Egan-Jones Ratings Company ceases to rate the Notes or fails to make a rating
of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical
rating organization” as defined in Section 3(a)(62) of the Exchange Act selected by the Company as a replacement agency
for Egan-Jones Ratings Company.

 

“Record Date” means,
with respect to any dividend, distribution or other transaction or event in which the holders of Common Stock (or other applicable
security) have the right to receive any cash, securities or other property or in which the Common Stock (or such other security)
is exchanged for or converted into any combination of cash, securities or other property, the date fixed for determination of holders
of the Common Stock (or such other security) entitled to receive such cash, securities or other property (whether such date is
fixed by the Board of Directors, by statute, by contract or otherwise).

 

    7

     

    

 

“Reference Property”
shall have the meaning specified in Section 13.08(a).

 

“Regular Record Date,”
with respect to any Interest Payment Date, means the April 15 or October 15 (whether or not such day is a Business Day)
immediately preceding the applicable May 1 or November 1 Interest Payment Date, respectively.

 

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

 

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

 

“Regulation S Legend”
means the legend set forth in Section 2.03(d) hereof, which is required to be placed on all Regulation S Global
Notes issued under this Indenture.

 

“Reinvestment Yield”
means, with respect to any Remaining Interest Payment, the sum of (a) 0.50% plus (b) the yield to maturity of the Comparable
Treasury Issue implied by the “Ask Yield(s)” Reported having a maturity equal to the Remaining Life of such Remaining
Interest Payment as of such Forced Conversion Date. If there are no such U.S. Treasury securities Reported having a maturity equal
to such Remaining Life, then such implied yield to maturity shall be determined by (i) converting U.S. Treasury bill quotations
to bond equivalent yields in accordance with accepted financial practice and (ii) interpolating linearly between the “Ask
Yields” Reported for the applicable most recently issued actively traded on-the-run U.S. Treasury securities with the maturities
(1) closest to and greater than such Remaining Life and (2) closest to and less than such Remaining Life. The Reinvestment
Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note.

 

If such yields are not Reported or the yields
Reported as of such time are not ascertainable (including by way of interpolation), then “Reinvestment Yield” means,
with respect to the Remaining Interest Payments of any Forced Converted Note, the sum of (x) 0.50% plus (y) the yield
to maturity implied by the U.S. Treasury constant maturity yields reported, for the latest day for which such yields have been
so reported as of the second business day preceding the Forced Conversion Date with respect to such Forced Converted Note, in Federal
Reserve Statistical Release H.15 (or any comparable successor publication) for the U.S. Treasury constant maturity having a term
equal to the Remaining Life of such Remaining Interest Payment as of such Forced Conversion Date. If there is no such U.S. Treasury
constant maturity having a term equal to such Remaining Life, such implied yield to maturity will be determined by interpolating
linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining
Life and (2) the U.S. Treasury constant maturity so reported with the term closest to and less than such Remaining Life. The
Reinvestment Yield will be rounded to the number of decimal places as appears in the interest rate of the applicable Note.

 

“Relevant Distribution”
shall have the meaning specified in Section 13.04(c).

 

“Remaining Interest Payments”
means all interest payments unpaid and unaccrued on a Forced Converted Note three days prior to the Forced Conversion Date, which
would be paid if the Forced Converted Note was held until the stated maturity date instead of converting.

 

“Remaining Life” means,
with respect to any Remaining Interest Payment, the number of years, computed on the basis of a 360-day year comprised of twelve
30-day months and calculated to two decimal places, that will elapse between the Forced Conversion Date with respect to such Forced
Converted Note and the scheduled due date of such Remaining Scheduled Payment.

 

    8

     

    

 

“Reported” means reported
as of 10:00 a.m. (New York City time) on the second Business Day preceding the Forced Conversion Date with respect to such
Forced Converted Note for such Remaining Interest Payment, on the display designated as “Page PX1” (or such other
display as may replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on-the-run U.S.
Treasury securities.

 

“Resale Registration Statement”
means any registration statement of the Company filed or confidentially submitted with the Commission under the Securities Act
that covers the resale of the Common Stock (or other common stock into which the Notes are convertible), including the prospectus,
amendments and supplements to such registration statement or prospectus, including pre- and post-effective amendments, all exhibits
thereto and all material incorporated by reference or deemed to be incorporated by reference, if any, in such registration statement.

 

“Resale Restriction Termination
Date” shall have the meaning specified in Section 2.03(e).

 

“Restricted Definitive Note”
shall have the meaning specified in Section 2.03(f).

 

“Restricted Global Note”
shall have the meaning specified in Section 2.03(f).

 

“Restricted Securities Legend”
shall have the meaning specified in Section 2.03(d).

 

“Scheduled Trading Day”
means any day that is scheduled to be a Trading Day on the principal U.S. national or regional securities exchange or market on
which the Common Stock is listed for trading. If the Common Stock is not so listed, “Scheduled Trading Day” means a
Business Day.

 

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

 

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

 

“Share Exchange Event”
shall have the meaning specified in Section 13.08(a).

 

“Spin-Off” shall have
the meaning specified in Section 13.04(c).

 

“Stock Price” shall have
the meaning specified in Section 13.03(c).

 

“Successor Company” shall
have the meaning specified in Section 11.01(a).

 

“Termination of Trading”
means the Common Stock (or other common stock into which the Notes are convertible) fails to be listed or quoted on any of The
New York Stock Exchange, The NASDAQ Capital Market, The NASDAQ Global Select Market or The NASDAQ Global Market or ceases to be
listed or quoted on any such exchange (or any of their respective successors) following the effectiveness of a Resale Registration
Statement, or the announcement by any such exchange on which the Common Stock (or other common stock) is trading that the Common
Stock (or other common stock) will no longer be listed or admitted for trading and will not be immediately relisted or readmitted
for trading on any of The New York Stock Exchange, The NASDAQ Capital Market, The NASDAQ Global Select Market or The NASDAQ Global
Market (or any of their respective successors).

 

“Threshold Period” shall
have the meaning specified in Section 15.02.

 

“Trading Day” means
a day on which (i) the principal U.S. national securities exchange or market on which the Common Stock is then listed is open
for trading and a Closing Sale Price for the Common Stock is available on such securities exchange or market, or (ii) if the
Common Stock is not so listed or a Closing Sale Price for the Common Stock is not so available on such securities exchange or market,
any Business Day.

 

“Trading Threshold Event”
means, following the listing of the Common Stock on a national securities exchange, the Closing Sale
Price of the Common Stock for any 30 consecutive trading days exceeds 120% of the then current Conversion Price.

 

    9

     

    

 

“Trading Threshold Event Average”
means the average Closing Sale Price of the Common Stock during the relevant Trading Threshold
Event period.

 

“transfer” shall have
the meaning specified in Section 2.06(c).

 

“Trigger Event” shall
have the meaning specified in Section 13.04(b).

 

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

 

“Trustee” means the Person
named as the “Trustee” in the first paragraph of this Supplemental Indenture until a successor trustee shall
have become such pursuant to the applicable provisions of this Supplemental Indenture, and thereafter “Trustee”
shall mean or include each Person who is then a Trustee hereunder.

 

“Unrestricted Definitive Note”
shall have the meaning specified in Section 2.03(f).

 

“Unrestricted Global Note”
shall have the meaning specified in Section 2.03(f).

 

“Valuation Period” shall
have the meaning specified in Section 13.04(c).

 

“Wholly Owned Subsidiary”
means, with respect to any Person, any Subsidiary of such Person, except that, solely for purposes of this definition, the reference
to a “majority” in the definition of “Subsidiary” in the Base Indenture shall be deemed replaced by a reference
to “100%”.

 

Section 1.02.     References
to Interest

 

Unless the context otherwise requires, any
reference to interest on, or in respect of, any Note in this Supplemental Indenture shall be deemed to include Additional Interest
if, in such context, Additional Interest is, was or would be payable pursuant to Section 6.03. Unless the context otherwise
requires, any express mention of Additional Interest in any provision hereof shall not be construed as excluding Additional Interest
in those provisions hereof where such express mention is not made.

 

ARTICLE 2.

ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES

 

Section 2.01.     Scope
of Supplemental Indenture

 

This Supplemental Indenture amends and supplements
the provisions of the Base Indenture, to which provisions reference is hereby made. The changes, modifications and supplements
to the Base Indenture effected by this Supplemental Indenture shall be applicable only with respect to, and shall only govern the
terms of, the Notes, which may be issued from time to time in accordance herewith, and shall not apply to any other Securities
that may be issued under the Base Indenture unless a supplemental indenture with respect to such other Securities specifically
incorporates such changes, modifications and supplements. For all purposes under the Base Indenture, the Notes shall constitute
a single series of Securities, and with regard to any matter requiring the consent under the Base Indenture of Holders of multiple
series of Securities voting together as a single class, the consent of Holders of the Notes voting as a separate class shall also
be required and the same threshold shall apply. The provisions of this Supplemental Indenture shall supersede, with respect to
the Notes, any conflicting or inconsistent provisions in the Base Indenture. In the case of any conflict between the Indenture
and a Note, the provisions of the Indenture shall control and govern to the extent of such conflict.

 

    10

     

    

 

Section 2.02.     Designation
and Amount

 

The Notes are hereby created and authorized
as a single series of Securities under the Base Indenture. The Notes shall be designated as the “6.00% Convertible Notes
due 2025.” The aggregate principal amount of Notes that may be authenticated and delivered under this Supplemental Indenture
is initially limited to $50,000,000, subject to Section 2.11 and except for Notes authenticated and delivered upon
registration or transfer of, or in exchange for, or in lieu of other Notes to the extent expressly permitted hereunder. For purposes
of Section 3.01 of the Base Indenture, the Notes are designated as Senior Securities.

 

Section 2.03.     Form of
Notes

 

(a)            The
Notes and the Trustee’s certificate of authentication to be borne by such Notes shall be substantially in the respective
forms set forth on Exhibit A attached hereto, the terms and provisions of which shall constitute, and are hereby expressly
incorporated in and made a part of the Indenture. To the extent applicable, the Company and the Trustee, by their execution and
delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby.

 

(b)            Any
Global Note may be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent
with the provisions of the Indenture as may be required by the Custodian or the Depositary, or as may be required to comply with
any applicable law or any regulation thereunder or with the rules and regulations of any securities exchange or automated
quotation system upon which the Notes may be listed or traded or designated for issuance or to conform with any usage with respect
thereto, or to indicate any special limitations or restrictions to which any particular Notes are subject.

 

(c)            Any
of the Notes may have such letters, numbers or other marks of identification and such notations, legends or endorsements as the
Officers executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent
with the provisions of the Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant
thereto or with any rule or regulation of any securities exchange or automated quotation system on which the Notes may be
listed or designated for issuance, or to conform to usage or to indicate any special limitations or restrictions to which any particular
Notes are subject.

 

(d)            Each
Global Note shall represent such principal amount of the outstanding Notes as shall be specified therein and shall provide that
it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate
principal amount of outstanding Notes represented thereby may from time to time be increased or reduced to reflect repurchases,
cancellations, conversions, transfers or exchanges permitted hereby. Any endorsement of a Global Note to reflect the amount of
any increase or decrease in the amount of outstanding Notes represented thereby shall be made by the Trustee or the Custodian,
at the direction of the Trustee, in such manner and upon instructions given by the Holder of such Notes in accordance with the
Indenture. Payment of principal of (including the Fundamental Change Purchase Price and the Forced Conversion Consideration, if
applicable), and accrued and unpaid interest on, a Global Note shall be made to the Holder of such Note on the date of payment,
unless a record date or other means of determining Holders eligible to receive payment is provided for herein or under the rules or
procedures of the Depositary. Neither the Trustee nor any Agent shall have responsibility for any actions taken or not taken by
the Depositary.

 

Every Note authenticated and delivered hereunder
shall bear an additional legend in substantially the following form (the “Restricted Securities Legend”) unless
and until such Restricted Securities Legend is no longer required in accordance with Section 2.03(f) of this Supplemental
Indenture:

 

THIS SECURITY HAS NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS
OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD,
ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION
IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION.

 

    11

     

    

 

THE HOLDER OF THIS
SECURITY BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES,
TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”)
WHICH IS ONE YEAR IN THE CASE OF RULE 144A NOTES, AND 40 DAYS IN THE CASE OF REGULATION S NOTES AFTER THE LATER OF THE ORIGINAL
ISSUE DATE HEREOF (OR ANY PREDECESSOR OF THIS SECURITY) OR THE DATE OF ANY SUBSEQUENT REOPENING OF THE SECURITIES AND THE LAST
DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY),
ONLY (A) TO THE COMPANY OR ANY OF ITS SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED
EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A
PERSON IT REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS
AND SALES THAT OCCUR OUTSIDE THE UNITED STATE WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL
 “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT
IS AN INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL
ACCREDITED INVESTOR, OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
AND THE SECURITIES LAWS OF ANY OTHER JURISDICTION, INCLUDING ANY STATE OF THE UNITED STATES, SUBJECT TO THE COMPANY’S
AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL SATISFACTORY
TO EACH OF THEM AND/OR A CERTIFICATE OF TRANSFER OR EXCHANGE IN THE FORM PRESCRIBED IN THE INDENTURE. THIS LEGEND WILL BE
REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.

 

In addition, each Regulation S Global Note will bear a legend
in substantially the following form (the “Regulation S Legend”):

 

“IN THE CASE
OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING
FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER
THE SECURITIES ACT.”

 

(e)            With
respect to any proposed registration of transfer of any Note prior to (x) the date which is one year (or such other date when
resales of securities by non-Affiliates are first permitted under Rule 144(d) under the Securities Act) after the later
of the date of the original issue date of the applicable Notes or the date of any subsequent reopening of such Notes and the last
date on which the Company or any of the Company’s Affiliates were the owner of such Notes (or any predecessor thereto) or
(y) such later date, if any, as may be required by applicable law (the “Resale Restriction Termination Date”),
the Holder of such Note and each subsequent Holder thereof shall offer, sell, or otherwise transfer such Note only (i) to
the Company or any of the Company’s Subsidiaries, (ii) pursuant to a registration statement which has become effective
under the Securities Act, (iii) for so long as such Note is eligible for resale pursuant to Rule 144A under the Securities
Act, to a Person it reasonably believes is a QIB that purchases for its own account or for the account of a QIB to whom notice
is given that the transfer is being made in reliance on Rule 144A under the Securities Act, (iv) to an institutional
 “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act
that is purchasing for its own account or for the account of such an institutional “accredited investor” or (v) pursuant
to any other available exemption from the registration requirements of the Securities Act; in each of the foregoing cases subject
to any requirements of law that the disposition of its property or the property of such investor account or accounts be at all
times within its or their control and in compliance with any applicable state securities laws. The foregoing restrictions on resale
will not apply subsequent to the Resale Restriction Termination Date.

 

    12

     

    

 

(f)            Upon
the transfer or replacement of a Global Note (or beneficial interest therein) not bearing a Restricted Securities Legend (an “Unrestricted
Global Note”) the Trustee shall deliver an Unrestricted Global Note (or beneficial interest therein) and upon the transfer
or replacement of a definitive Note not bearing a Restricted Securities Legend (an “Unrestricted Definitive Note”),
the Trustee shall deliver an Unrestricted Definitive Note. Upon the transfer, exchange, or replacement of a Global Note (or beneficial
interest therein) bearing a Restricted Securities Legend (a “Restricted Global Note”) the Trustee shall deliver
only a Restricted Global Note (or beneficial interest therein) and upon the transfer, exchange or replacement of a definitive Note
bearing a Restricted Securities Legend (a “Restricted Definitive Note”), the Trustee shall deliver only Restricted
Definitive Notes unless, in each case, (i) a Note is being transferred pursuant to an effective registration statement, (ii) Notes
are being exchanged for Notes that do not bear the Restricted Securities Legend in accordance with the following paragraph, or
(iii) there is delivered to the Trustee an Opinion of Counsel satisfactory to it stating that neither such legend nor the
related restrictions on transfer are required in order to maintain compliance with the provisions of the Securities Act, upon which
opinion the Trustee may conclusively rely. Any Notes sold in a registered offering. shall not be required to bear the Restricted
Securities Legend.

 

Upon the Company’s
satisfaction that the Restricted Securities Legend shall no longer be required in order to maintain compliance with the Securities
Act, beneficial interests in a Restricted Global Note may be automatically exchanged into beneficial interests in an Unrestricted
Global Note without any action required by or on behalf of the Holder (the “Automatic Exchange”) at any time
on or after the date that is the 366th calendar day after the later of the date of the original issue date of the applicable Notes
or the date of any subsequent reopening of such Notes, or in each case, if such day is not a Business Day, on the next succeeding
Business Day.

 

Upon the Company’s
satisfaction that the Restricted Securities Legend shall no longer be required in order to maintain compliance with the Securities
Act, the Company may cause the Restricted Securities Legend to be removed by (i) providing the Depositary an instruction letter
for the Depositary’s mandatory exchange process (or any successor notice, form, or action required pursuant to the Depositary’s
applicable procedures) to the extent required; (ii) providing written notice to the Trustee (x) instructing the Trustee
to take any actions as may be necessary so that the Restricted Securities Legend set forth on the Global Notes shall be deemed
removed from the Global Notes in accordance with the terms and conditions of the Notes and the Indenture, without further action
on the part of Holders and (y) instructing the Trustee to take any actions as may be necessary so that the restricted CUSIP
number for the Notes shall be removed from the Global Notes and replaced with an unrestricted CUSIP number; and (iii) on or
prior to the effective date of the Automatic Exchange (such date, the “Automatic Exchange Date”), deliver to
the Trustee for authentication one or more Unrestricted Global Notes, duly executed by the Company, in an aggregate principal amount
equal to the aggregate principal amount of Restricted Global Notes to be exchanged into such Unrestricted Global Notes. The Restricted
Global Note from which beneficial interests are transferred pursuant to an Automatic Exchange shall be cancelled following the
Automatic Exchange.

 

Any definitive Note
delivered in exchange for an interest in a Global Note pursuant to Sections 2.04 and 3.05 of the Base Indenture shall, bear the
applicable legend regarding transfer restrictions applicable thereto set forth in this Section 2.03 of this Supplemental Indenture
unless (i) the Global Note is an Unrestricted Global Note, or (ii) there is delivered to the Trustee an Opinion of Counsel
satisfactory to it stating that neither such legend nor the related restrictions on transfer are required in order to maintain
compliance with the provisions of the Securities Act, upon which opinion the Trustee may conclusively rely.

 

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

 

All certifications,
certificates and Opinions of Counsel required to be submitted to the Security Registrar pursuant to this Section 2.03 of this
Supplemental Indenture to effect a registration of transfer or exchange may be submitted by facsimile, electronic mail, .pdf attachment
or other electronic means.

 

Section 2.04.     Date
and Denomination of Notes; Payments of Interest and Defaulted Amounts

 

(a) The Notes shall be issuable
in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof. Each Note shall
be dated the date of its authentication and shall bear interest from the date specified on the face of such Note. Accrued interest
on the Notes shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the
basis of actual days elapsed over a 30-day month.

 

    13

     

    

 

(b) The Person in whose name any
Note (or its Predecessor Note) is registered on the Note Register at the close of business on any Regular Record Date with respect
to any Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment Date, notwithstanding any
conversion of such Note at any time after the close of business on the applicable Regular Record Date. In the case of Physical
Notes, payments in respect of principal and interest shall be made in U.S. dollars (i) at the Corporate Trust Office or, at
the Company’s option, by check mailed to the Holder’s address as it appears in the Note Register, or (ii) upon
any application to the Note Registrar not later than the relevant Regular Record Date by a Holder of more than $1,000,000 in principal
amount of Notes, by wire transfer in immediately available funds to that Holder’s account within the United States, which
application shall remain in effect until such Holder notifies, in writing, the Note Registrar to the contrary. Notwithstanding
the foregoing, payments in respect of the principal and interest (including the Fundamental Change Purchase Price and the Forced
Conversion Consideration, if applicable) on any Global Note shall be made by wire transfer of immediately available funds to the
account of the Depositary or its nominee and in accordance with the rules and procedures of the Depositary.

 

(c) Any Defaulted Amounts shall
forthwith cease to be payable to the Holder on the relevant payment date but shall accrue interest per annum at the rate borne
by the Notes plus one percent, subject to the enforceability thereof under applicable law, from, and including, such relevant
payment date, and such Defaulted Amounts together with such interest thereon shall be paid by the Company, at its election in each
case, as provided in clause (i) or (ii) below:

 

(i) The Company may elect to
make payment of any Defaulted Amounts to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered
at the close of business on a special record date for the payment of such Defaulted Amounts, which shall be fixed in the following
manner. The Company shall notify the Trustee in writing of the amount of the Defaulted Amounts proposed to be paid on each Note
and the date of the proposed payment (which shall be not less than 25 days after the receipt by the Trustee of such notice, unless
the Trustee shall consent to an earlier date), and at the same time the Company shall deposit with the Trustee an amount of money
equal to the aggregate amount to be paid in respect of such Defaulted Amounts or shall make arrangements satisfactory to the Trustee
for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit
of the Persons entitled to such Defaulted Amounts as in this clause (i) provided. Thereupon the Company shall fix a
special record date for the payment of such Defaulted Amounts which shall be not more than 15 days and not less than 10 days prior
to the date of the proposed payment, and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment.
The Company shall promptly notify the Trustee of such special record date and the Trustee, in the name and at the expense of the
Company, shall cause notice of the proposed payment of such Defaulted Amounts and the special record date therefor to be mailed,
first-class postage prepaid, to each Holder at its address as it appears in the Note Register, not less than 10 days prior to such
special record date. Notice of the proposed payment of such Defaulted Amounts and the special record date therefor having been
so mailed, such Defaulted Amounts shall be paid to the Persons in whose names the Notes (or their respective Predecessor Notes)
are registered at the close of business on such special record date and shall no longer be payable pursuant to the following clause
(ii) of this Section 2.04(c).

 

(ii) The Company may make payment
of any Defaulted Amounts in any other lawful manner not inconsistent with the requirements of any securities exchange or automated
quotation system on which the Notes may be listed or designated for issuance, and upon such notice as may be required by such exchange
or automated quotation system, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause,
such manner of payment shall be deemed practicable by the Trustee.

 

Section 2.05.     Execution,
Authentication and Delivery of Notes

 

Section 3.03 of the Base Indenture
shall not apply to the Notes. Instead, the provisions of this Section 2.05 shall, with respect to the Notes, supersede in
its entirety Section 3.03 of the Base Indenture and all references in the Base Indenture to Section 3.03 thereof shall
be deemed, for the purposes of the Notes, to be references to this Section 2.05. The Notes shall be signed in the name and
on behalf of the Company by the manual or facsimile, .pdf attachment or other electronically transmitted signature (including,
without limitation, DocuSign or Adobe Sign) of its Chief Executive Officer, President, Chief Operating Officer, Chief
Financial Officer or any of its Executive or Vice Presidents and attested by its Secretary or any Assistant Secretary.

 

    14

     

    

 

At any time and from time to time after
the execution and delivery of this Supplemental Indenture, the Company may deliver Notes executed by the Company to the Trustee
for authentication, together with a Company Order, an Officers’ Certificate and an Opinion for Counsel in accordance with
Section 16.05 for the authentication and delivery of such Notes, and the Trustee in accordance with such Company Order
shall authenticate and deliver such Notes, without any further action by the Company hereunder. In authenticating such Notes, and
accepting the additional responsibilities under the Indenture in relation to such Notes, the Trustee shall be entitled to receive,
and shall be fully protected in relying upon,

 

(i) an Opinion of Counsel
stating as follows:

 

(a) that the form or forms of such Notes have
been established in conformity with the provisions of the Indenture;

 

(b) that the terms of such Notes have been established
in conformity with the provisions of the Indenture; and

 

(c) that such Notes, when completed by appropriate
insertions and executed and delivered by the Company to the Trustee for authentication in accordance with the Indenture, authenticated
and delivered by the Trustee in accordance with the Indenture and issued by the Company in the manner and subject to any conditions
specified in such Opinion of Counsel, shall constitute legal, valid and binding obligations of the Company, enforceable in accordance
with their terms, subject to applicable bankruptcy, insolvency, reorganization and other similar laws of general applicability
relating to or affecting the enforcement of creditors’ rights, to general equitable principles and to such other qualifications
as such counsel shall conclude do not materially affect the rights of Holders of such Notes; and

 

(ii) an Officers’ Certificate stating, to
the best of the knowledge of the signers of such certificate, that no Event of Default with respect to any of the Notes shall have
occurred and be continuing.

 

The Trustee shall not be required to authenticate
Notes that are not substantially in the form attached hereto if the issue of such Notes pursuant to the Indenture shall affect
the Trustee’s own rights, duties, obligations or immunities under the Notes and the Indenture or otherwise in a manner that
is not reasonably acceptable to the Trustee. Notwithstanding the generality of the foregoing, the Trustee shall not be required
to authenticate the Notes denominated in a foreign currency if the Trustee reasonably believes that it would be unable to perform
its duties with respect to such Notes.

 

Only such Notes as shall bear thereon a
certificate of authentication substantially in the form set forth on the form of Note set forth on Exhibit A attached
hereto, executed manually or by facsimile, .pdf attachment or other electronically transmitted signature (including, without limitation, DocuSign or
Adobe Sign) by an authorized officer of the Trustee (or an authenticating agent appointed by the Trustee as provided by Section 16.10
hereunder), shall be entitled to the benefits of the Indenture or be valid or obligatory for any purpose. Such certificate by the
Trustee (or such an authenticating agent) upon any Note executed by the Company shall be conclusive evidence that the Note so authenticated
has been duly authenticated and delivered hereunder and that the Holder is entitled to the benefits of the Indenture.

 

In case any Officer of the Company who shall
have signed any of the Notes shall cease to be such Officer before the Notes so signed shall have been authenticated and delivered
by the Trustee, or disposed of by the Company, such Notes nevertheless may be authenticated and delivered or disposed of as though
the person who signed such Notes had not ceased to be such Officer of the Company; and any Note may be signed on behalf of the
Company by such persons as, at the actual date of the execution of such Note, shall be the Officers of the Company, although at
the date of the execution of this Supplemental Indenture any such person was not such an Officer.

 

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Section 2.06.     Exchange
and Registration of Transfer of Notes; Depositary. Section 3.05 of the Base Indenture shall not apply to the Notes. Instead,
the provisions of this Section 2.06 shall, with respect to the Notes, supersede in its entirety Section 3.05 of the
Base Indenture and all references in the Base Indenture to Section 3.05 thereof shall be deemed, for the purposes of the
Notes, to be references to this Section 2.06.

 

(a) The Company shall cause to
be kept at the Corporate Trust Office a register (the register maintained in such office or in any other office or agency of the
Company, the “Note Register”) in which, subject to such reasonable regulations as it may prescribe, the Company
shall provide for the registration of Notes and of transfers of Notes. Such register shall be in written form or in any form capable
of being converted into written form within a reasonable period of time. The Trustee is hereby initially appointed the “Note
Registrar” for the purpose of registering Notes and transfers of Notes as herein provided. The Company may appoint one
or more co-Note Registrars. In acting hereunder and in connection with the Notes, the Note Registrar shall act solely as an agent
of the Company, and shall not thereby assume any obligation towards or relationship of agency or trust for or with any Holder.

 

Upon surrender for registration of transfer
of any Note to the Note Registrar or any co-Note Registrar, and satisfaction of the requirements for such transfer set forth in
this Section 2.06, the Company shall execute and, upon receipt of a Company Order, the Trustee shall authenticate and
deliver, in the name of the designated transferee or transferees, one or more new Notes of any authorized denominations and of
a like aggregate principal amount; provided, however, that prior to the expiration of the Restricted Period, transfers of
beneficial interests in the Regulation S Global Note may not be made to a U.S. Person or for the account or benefit of a U.S. Person
(other than KBW).

 

Notes may be exchanged for other Notes of
any authorized denominations and of a like aggregate principal amount, upon surrender of the Notes to be exchanged at any such
office or agency maintained by the Company pursuant to the terms of the Indenture. Whenever any Notes are so surrendered for exchange,
the Company shall execute and, upon receipt of a Company Order, the Trustee shall authenticate and deliver, the Notes that the
Holder making the exchange is entitled to receive, bearing registration numbers not contemporaneously outstanding.

 

All Notes presented or surrendered for registration
of transfer or for exchange, repurchase or conversion shall (if so required by the Company, the Trustee, the Note Registrar or
any co-Note Registrar) be duly endorsed, or be accompanied by a written instrument or instruments of transfer in form satisfactory
to the Company and duly executed, by the Holder thereof or its attorney-in-fact duly authorized in writing. Any transferring Holder
shall use commercially reasonable efforts to provide or cause to be provided to the Trustee, the Note Registrar or any co-Note
Registrar, as applicable, any information reasonably available to the transferring Holder and necessary to allow the Trustee, the
Note Registrar or any co-Note Registrar, as applicable, to comply with any applicable tax reporting obligations, including without
limitation, any cost basis reporting obligations under Code Section 6045 of the Code. The Trustee, the Note Registrar or any
co-Note Registrar, as applicable, may rely on any such information provided to it and shall have no responsibility to verify or
ensure the accuracy of such information.

 

No service charge shall be imposed by the
Company, the Trustee, the Note Registrar, any co-Note Registrar or the Paying Agent for any exchange or registration of transfer
of Notes, but the Company or the Trustee may require a Holder to pay a sum sufficient to cover any documentary, stamp or similar
issue or transfer tax required in connection therewith as a result of the name of the Holder of new Notes issued upon such exchange
or registration of transfer being different from the name of the Holder of the old Notes surrendered for exchange or registration
of transfer.

 

None of the Company, the Trustee, the Note
Registrar and any co-Note Registrar shall be required to exchange or register a transfer of (i) any Notes surrendered for
conversion or, if a portion of any Note is surrendered for conversion, such portion thereof surrendered for conversion, or (ii) any
Notes, or a portion of any Note, surrendered for repurchase (and not withdrawn) in accordance with Article 14.

 

All Notes issued upon any registration of
transfer or exchange of Notes in accordance with the Indenture shall be the valid obligations of the Company, evidencing the same
debt, and entitled to the same benefits under the Indenture as the Notes surrendered upon such registration of transfer or exchange.

 

    16

     

    

 

(b) So long as the Notes are eligible
for book-entry settlement with the Depositary, unless otherwise required by law, subject to the fourth paragraph from the end of
Section 2.06(c), all Notes shall be represented by one or more Notes in global form (each, a “Global Note”)
registered in the name of the Depositary or the nominee of the Depositary. The transfer and exchange of beneficial interests in
a Global Note that does not involve the issuance of a Physical Note shall be effected through the Depositary (but not the Trustee
or the Custodian) in accordance with the Indenture (including the restrictions on transfer set forth herein) and the procedures
of the Depositary therefor.

 

(c) Notwithstanding any other
provisions of the Indenture, a Global Note may not be transferred as a whole or in part except (i) by the Depositary to a
nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary
or any such nominee to a successor Depositary or a nominee of such successor Depositary, and (ii) for transfers of portions
of a Global Note in certificated form made upon request of a member of, or a participant in, the Depositary (for itself or on behalf
of a beneficial owner) by written notice given to the Trustee by or on behalf of the Depositary in accordance with customary procedures
of the Depositary and in compliance with this Section 2.06(c).

 

The Depositary shall be a clearing agency
registered under the Exchange Act. The Company initially appoints The Depository Trust Company (“DTC”) to act
as Depositary with respect to each Global Note. Initially, each Global Note shall be issued to the Depositary, registered in the
name of Cede & Co., as the nominee of the Depositary, and deposited with the Trustee as custodian for Cede &
Co.

 

The Trustee shall have no responsibility
or obligation to any beneficial owner of a Global Note, a member of, or a participant in, DTC or other Person with respect to the
accuracy of the records of DTC or its nominee or of any participant or member thereof, with respect to any ownership interest in
the Notes or with respect to the delivery to any participant, member, beneficial owner or other Person (other than DTC) of any
notice (including any notice of purchase) or the payment of any amount or delivery of any Notes (or other security or property)
under or with respect to such Notes. All notices and communications to be given to the Holders and all payments to be made to Holders
in respect of the Notes shall be given or made only to or upon the order of the registered Holders (which shall be DTC or its nominee
in the case of a Global Note). The rights of beneficial owners in any Global Note shall be exercised only through DTC subject to
the applicable rules and procedures of DTC, except as expressly set forth in the last sentence of Section 8.03.
The Trustee may rely and shall be fully protected in relying upon information furnished by DTC with respect to its members, participants
and any beneficial owners.

 

The Trustee shall have no obligation or
duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under the Indenture or under applicable
law with respect to any transfer of any interest in any Note (including any transfers between or among DTC participants, members
or beneficial owners in any Global Note) other than to require delivery of such certificates and other documentation or evidence
as are expressly required by, and to do so if and when expressly required by, the terms of the Indenture, and to examine the same
to determine substantial compliance as to form with the express requirements hereof. Neither the Trustee nor any of its agents
shall have any responsibility for any actions taken or not taken by DTC.

 

If (i) the Depositary notifies the
Company at any time that the Depositary is unwilling or unable to continue as depositary for the Global Notes and a successor depositary
is not appointed within 90 days, (ii) the Depositary ceases to be registered as a clearing agency under the Exchange Act and
a successor depositary is not appointed within 90 days, or (iii) an Event of Default with respect to the Notes has occurred
and is continuing and a beneficial owner of any Note requests that its beneficial interest therein be issued as a Physical Note,
the Company shall execute, and the Trustee, upon receipt of an Officers’ Certificate and a Company Order for the authentication
and delivery of Notes, shall authenticate and deliver (x) in the case of clause (iii), a Physical Note to such beneficial
owner in a principal amount equal to the principal amount of such Note corresponding to such beneficial owner’s beneficial
interest, and (y) in the case of clause (i) or (ii), Physical Notes to each beneficial owner of the related
Global Notes (or a portion thereof) in an aggregate principal amount equal to the aggregate principal amount of such Global Notes
in exchange for such Global Notes, and upon delivery of the Global Notes to the Trustee such Global Notes shall be canceled.

 

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Physical Notes issued in exchange for all
or a part of the Global Note pursuant to this Section 2.06(c) shall be registered in such names and in such authorized
denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, or, in the case
of clause (iii) of the immediately preceding paragraph, the relevant beneficial owner, shall instruct the Trustee.
Upon execution and authentication, the Trustee shall deliver such Physical Notes to the Persons in whose names such Physical Notes
are so registered.

 

At such time as all interests in a Global
Note have been converted, canceled, repurchased or transferred, such Global Note shall be, upon receipt thereof, canceled by the
Trustee in accordance with standing procedures and existing instructions between the Depositary and the Custodian. At any time
prior to such cancellation, if any interest in a Global Note is exchanged for Physical Notes, converted, canceled, repurchased
or transferred to a transferee who receives Physical Notes therefor or any Physical Note is exchanged or transferred for part of
such Global Note, the principal amount of such Global Note shall, in accordance with the standing procedures and instructions existing
between the Depositary and the Custodian, be appropriately reduced or increased, as the case may be, and an endorsement shall be
made on such Global Note, by the Trustee or the Custodian, at the direction of the Trustee, to reflect such reduction or increase.

 

None of the Company, the Trustee and any
agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the records relating to or payments
made on account of beneficial ownership interests of a Global Note or maintaining, supervising or reviewing any records relating
to such beneficial ownership interests.

 

(d) The Company shall cause any
Note that is repurchased by it to be surrendered to the Trustee for cancellation in accordance with Section 2.09.

 

Section 2.07.     Mutilated,
Destroyed, Lost or Stolen Notes. Section 3.06 of the Base Indenture shall not apply to the Notes. Instead, the provisions
of this Section 2.07 shall, with respect to the Notes, supersede in its entirety Section 3.06 of the Base Indenture
and all references in the Base Indenture to Section 3.06 thereof shall be deemed, for the purposes of the Notes, to be references
to this Section 2.07.

 

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

 

The Trustee or such authenticating agent
may authenticate any such substituted Note and deliver the same upon the receipt of such security and/or indemnity as the Trustee,
the Company and, if applicable, such authenticating agent may require. No service charge shall be imposed by the Company, the Trustee,
the Note Registrar, any co-Note Registrar or the Paying Agent upon the issuance of any substitute Note, but the Company, the Paying
Agent, the Note Registrar, or the co-Note Registrar may require a Holder to pay a sum sufficient to cover any documentary, stamp
or similar issue or transfer tax required in connection therewith as a result of the name of the Holder of the new substitute Note
being different from the name of the Holder of the old Note that became mutilated or was destroyed, lost or stolen and any other
expenses (including the fees and expenses of the Trustee) in connection with such substitution. In case any Note that has matured
or that, according to such Holder, would have otherwise been surrendered for required purchase (at a time when Notes may be so
surrendered) or conversion in accordance with Article 13 shall become mutilated or be destroyed, lost or stolen, the
Company may, in its sole discretion, instead of issuing a substitute Note, pay or authorize the payment of or convert or authorize
the conversion of the same (without surrender thereof except in the case of a mutilated Note), as the case may be, if the applicant
for such payment or conversion shall furnish to the Company, to the Trustee and, if applicable, to such authenticating agent such
security and/or indemnity as may be required by them to save each of them harmless for any loss, liability, cost or expense caused
by or connected with such substitution, and, in every case of destruction, loss or theft, evidence satisfactory to the Company,
the Trustee and, if applicable, any Paying Agent or Conversion Agent evidence of their satisfaction of the destruction, loss or
theft of such Note and of the ownership thereof.

 

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

 

Section 2.08.     Temporary
Notes. Section 3.04 of the Base Indenture shall not apply to the Notes. Instead, the provisions of this Section 2.08
shall, with respect to the Notes, supersede in its entirety Section 3.04 of the Base Indenture and all references in the
Base Indenture to Section 3.04 thereof shall be deemed, for the purposes of the Notes, to be references to this Section 2.08.

 

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

 

Section 2.09.     Cancellation
of Notes Paid, Converted, Etc. Section 3.10 of the Base Indenture shall not apply to the Notes. Instead,
the provisions of this Section 2.09 shall, with respect to the Notes, supersede in its entirety Section 3.10 of the
Base Indenture and all references in the Base Indenture to Section 3.10 thereof shall be deemed, for the purposes of the
Notes, to be references to this Section 2.09.

 

The Company, Note Registrar, Paying Agent
and Conversion Agent (if other than the Trustee) shall cause all Notes surrendered to them by Holders for the purpose of payment,
required purchase, registration of transfer or exchange or conversion to be surrendered to the Trustee for cancellation. All Notes
delivered to the Trustee shall be canceled promptly by it, and no Notes shall be authenticated in exchange thereof except as expressly
permitted by any of the provisions of the Indenture. The Trustee shall dispose of canceled Notes in accordance with its customary
procedures and, after such disposition, shall deliver a certificate of such disposition to the Company, at the Company’s
written request in a Company Order.

 

Section 2.10.     CUSIP
Numbers

 

The Company in issuing the Notes may use
 “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in all notices
issued to Holders as a convenience to such Holders; provided, however, that any such notice may state that no representation
is made as to the correctness of such numbers either as printed on the Notes or on such notice and that reliance may be placed
only on the other identification numbers printed on the Notes. The Company shall promptly notify the Trustee in writing of any
change in the “CUSIP” numbers.

 

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Section 2.11.     Additional
Notes; Repurchases

 

The Company may from time to time, without
the consent of the Holders and notwithstanding Section 2.02, reopen the Indenture and issue additional Notes hereunder
with the same terms as the Notes initially issued hereunder (other than date of issuance and the date from which interest shall
initially accrue) in an unlimited aggregate principal amount; provided, however, that if any such additional Notes
are not fungible with the Notes initially issued hereunder for U.S. federal income tax purposes, such additional Notes shall have
a separate CUSIP number. Prior to the issuance of any such additional Notes, the Company shall deliver to the Trustee a Company
Order, an Officers’ Certificate and an Opinion of Counsel, such Officers’ Certificate and Opinion of Counsel to cover
such matters, in addition to those required by Section 16.05, as the Trustee shall reasonably request. In addition,
the Company may, to the extent permitted by law, and directly or indirectly (regardless of whether such Notes are surrendered to
the Company), repurchase Notes in the open market or by tender offer at any price or by private agreement. The Company shall cause
any Notes so repurchased (other than Notes repurchased pursuant to cash-settled swaps or other derivatives) to be surrendered to
the Trustee for cancellation in accordance with Section 2.09.

 

ARTICLE 3.

SATISFACTION AND DISCHARGE

 

Article Four of the Base Indenture
shall not apply to the Notes. Instead, the provisions of this Article 3 shall, with respect to the Notes, supersede in its
entirety Article Four of the Base Indenture and all references in the Base Indenture to Article Four thereof shall be
deemed, for the purposes of the Notes, to be references to this Article 3.

 

Section 3.01.        Satisfaction
and Discharge

 

The Indenture shall, upon request of the
Company contained in an Officers’ Certificate, cease to be of further effect, and the Trustee, at the expense of the Company,
shall execute proper instruments acknowledging satisfaction and discharge of the Indenture, when (a) (i) all Notes theretofore
authenticated and delivered (other than Notes which have been destroyed, lost or stolen and which have been replaced or paid as
provided in Section 2.07) have been delivered to the Trustee for cancellation; or (ii) all Notes

 

(A)          have
become due and payable, whether on the Maturity Date, any Fundamental Change Purchase Date, any Forced Conversion Date, or upon
conversion or otherwise, or

 

(B)           shall
become due and payable at their Maturity Date within one year, or

 

(C)           are
to be called for Forced Conversion in accordance with Article 15 within one year under arrangements satisfactory to the
Trustee for the giving of notice of conversion by the Trustee in the name, and at the expense, of the Company, and the
Company, in the case of (A), (B), or (C) above, has deposited with the Trustee or delivered to Holders, as applicable,
cash and/or (solely to satisfy the Conversion Obligation, if applicable) shares of Common Stock, sufficient to pay all of the
outstanding Notes or satisfy the Conversion Obligation, as the case may be, and pay all other sums due and payable under the
Indenture by the Company; and

 

(b) the Company has delivered to the Trustee an Officers’
Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction
and discharge of the Indenture have been complied with. Notwithstanding the satisfaction and discharge of the Indenture, the obligations
of the Company to the Trustee under Section 7.06 shall survive.

 

    20 

     

    

 

ARTICLE 4.

PARTICULAR COVENANTS OF THE COMPANY

 

Section 4.01.        Covenants

 

Except as may be provided in a Future Supplemental
Indenture, for the benefit of the Holders of the Notes but no other series of Securities under the Indenture, whether now or hereafter
issued and outstanding, Article Ten of the Base Indenture shall be amended by adding the following new Sections 10.07, 10.08,
10.09, 10.10 and 10.11 thereto, each as set forth below:

 

“Section 10.07       Section 18(a)(1)(A) of
the Investment Company Act.

 

The Company hereby
agrees that for the period of time during which Notes are outstanding, the Company shall not violate, whether or not it is subject
to, Section 18(a)(1)(A) as modified by Section 61(a) of the Investment Company Act, as may be applicable to
the Company from time to time, or any successor provisions thereto of the Investment Company Act, giving effect to any exemptive
relief granted to the Company by the Commission.”

 

“Section 10.08       Section 18(a)(1)(B) of the Investment Company Act.

 

The
Company hereby agrees that for the period of time during which Notes are outstanding, the Company shall not violate Section 18(a)(1)(B) as
modified by Section 61(a)(1) of the Investment Company Act, as may be applicable to the Company from time to time, or
any successor provisions thereto, whether or not the Company is subject to such provisions of the Investment Company Act, and after
giving effect to any exemptive relief granted to the Company by the Commission, except that the Company may declare a cash dividend
or distribution, notwithstanding the prohibition contained in Section 18(a)(1)(B) as modified by Section 61(a)(1) of
the Investment Company Act, as may be applicable to the Company from time to time, or any successor provisions thereto, but only
up to such amount as is necessary in order for the Company to maintain its status as a regulated investment company under Subchapter
M of the Internal Revenue Code of 1986; provided, however, that the prohibition in this Section 10.08 shall not apply unless
and until such time as the Company’s asset coverage has been below the minimum asset coverage required pursuant to Section 18(a)(1)(B) as
modified by Section 61(a)(1) of the Investment Company Act, as may be applicable to the Company from time to time, or
any successor provisions thereto (after giving effect to any exemptive relief granted to the Company by the Commission) for more
than six (6) consecutive months. Notwithstanding Section 18(g) of the Investment Company Act regarding the use of
the term “senior security” in Section 18(a)(1)(B) of the Investment Company Act, for the purposes of determining
 “asset coverage” as used in this Section 10.08, any and all indebtedness of the Company, including any promissory
note or other evidence of indebtedness issued in consideration of any loan, extension, or renewal thereof, made by a bank or other
person and privately arranged, and not intended to be publicly distributed, shall be deemed a “senior security” of
the Company.”

 

“Section 10.09      Commission Reports and Reports to Holders.

 

If, at any time, the
Company is not subject to the reporting requirements of Sections 13 or 15(d) of the Exchange Act to file any periodic reports
with the Commission, the Company agrees to furnish to the Holders of Notes and the Trustee for the period of time during which
the Notes are outstanding: (i) within 90 days after the end of the each fiscal year of the Company, audited annual consolidated
financial statements of the Company and (ii) within 45 days after the end of each fiscal quarter of the Company (other than
the Company’s fourth fiscal quarter), unaudited interim consolidated financial statements of the Company. All such financial
statements shall be prepared, in all material respects, in accordance with GAAP, as applicable.

 

Delivery of such reports,
information, and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not
constitute constructive notice of any information contained therein or determinable from information contained therein, including
the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to conclusively rely exclusively
on Officers’ Certificates).”

 

“Section 10.10       144A Information.

 

If, at any time, the Company is not subject
to the reporting requirements of Sections 13 or 15(d) of the Exchange Act to file any periodic reports with the Commission,
the Company shall, so long as any of the Notes, at such time, are outstanding and constitute “restricted securities”
within the meaning of Rule 144 under the Securities Act, furnish to the Holders of the Notes and prospective investors, upon
their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.”

 

    21 

     

    

 

“Section 10.11       Notes
Rating.

 

The Company hereby agrees that for the period
of time during which Notes are outstanding, the Company shall use commercially reasonable efforts to maintain a Notes Rating at
all times.”

 

ARTICLE 5.

LISTS OF HOLDERS AND REPORTS BY THE COMPANY AND THE TRUSTEE

 

Section 5.01.        Lists
of Holders

 

The Company covenants and agrees that it
shall furnish or cause to be furnished to the Trustee, semi-annually, not more than 15 days after each April 15 and October 15
in each year beginning with April 15, 2021, and at such other times as the Trustee may request in writing, within 30 days
after receipt by the Company of any such request (or such lesser time as the Trustee may reasonably request in order to enable
it to timely provide any notice to be provided by it hereunder), a list in such form as the Trustee may reasonably require of the
names and addresses of the Holders as of a date not more than 15 days (or such other date as the Trustee may reasonably request
in order to so provide any such notices) prior to the time such information is furnished, except that no such list need be furnished
so long as the Trustee is acting as Note Registrar.

 

Section 5.02.        Preservation
and Disclosure of Lists

 

The Trustee shall preserve, in as current
a form as is reasonably practicable, all information as to the names and addresses of the Holders contained in the most recent
list furnished to it as provided in Section 5.01 or maintained by the Trustee in its capacity as Note Registrar, if
so acting. The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list
so furnished.

 

ARTICLE 6.

DEFAULTS AND REMEDIES

 

Article Five of the Base Indenture
shall not apply to the Notes. Instead, the provisions of this Article 6 shall, with respect to the Notes, supersede in its
entirety Article Five of the Base Indenture and all references in the Base Indenture to Article Five thereof shall be
deemed, for the purposes of the Notes, to be references to this Article 6.

 

Section 6.01.        Events
of Default

 

Each of the following events shall be an
 “Event of Default” with respect to the Notes:

 

(a)           failure by the Company to
pay the principal of any Note when due;

 

(b)           failure by the Company to
pay or deliver, as the case may be, cash, the shares of Common Stock, or a combination of cash and shares of Common Stock due upon
conversion of any Note (including any Additional Shares);

 

(c)           failure by the Company to
pay any interest on any Note when due and payable, and such failure is not cured within 30 days of such due date;

 

(d)           [Reserved];

 

(e)           failure
by the Company to pay the Fundamental Change Purchase Price of any Note when due in accordance with Article 14 or
to pay the Forced Conversion Consideration of any Note when due in accordance with Article 15;

 

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(f)            failure by the Company to
issue a Fundamental Change Company Notice in accordance with Section 14.01(c) or notice of a Make-Whole Adjustment
Event in accordance with Section 13.03(b), in each case when due;

 

(g)           failure by the Company to
perform any other covenant required of the Company in the Notes or the Indenture (other than a covenant or agreement a default
in whose performance or whose breach is specifically described in subsections (a) through (f) immediately
above) and such failure continues for 60 days after written notice from the Trustee, or the Holders of at least 25% in aggregate
principal amount of the Notes then outstanding, has been received by the Company;

 

(h)           the failure to pay at final
stated maturity (giving effect to any applicable grace periods and any extensions thereof) the principal amount of any indebtedness
for borrowed money (other than non-recourse indebtedness) of us or any subsidiary of us and such payment has not been made, waived
or extended within 120 days after such final stated maturity (giving effect to any applicable grace periods and any extensions
thereof) (a “Payment Default”), or the acceleration of the final stated maturity of any indebtedness for borrowed
money (other than non-recourse indebtedness) of us or any subsidiary of us and such acceleration has not been rescinded, annulled,
waived or otherwise cured within 120 days after receipt by us or such subsidiary of us a written notice of any such acceleration
(an “Acceleration”), if the aggregate principal amount of such indebtedness, together with the aggregate principal
amount of any other indebtedness for borrowed money of us or any subsidiary of us as to which a Payment Default or an Acceleration
has occurred and is continuing, aggregates $10.0 million or more at any time;

 

(i)            the
Company, pursuant to or within the meaning of any Bankruptcy Law:

 

(1)           commences
a voluntary case or proceeding under any Bankruptcy Law,

 

(2)           consents
to the commencement of any bankruptcy or insolvency case or proceeding against it, or files a petition or answer or consent seeking
reorganization or relief against it,

 

(3)           consents
to the entry of a decree or order for relief against it in an involuntary case or proceeding,

 

(4)           consents
to the filing of such petition or to the appointment of or taking possession by a Custodian of the Company or for all or substantially
all of its property, or

 

(5)           makes
an assignment for the benefit of creditors, or admits in writing of its inability to pay its debts generally as they become due
or takes any corporate action in furtherance of any such action;

 

The term “Bankruptcy
Law” means title 11, U.S. Code or any applicable federal or state bankruptcy, insolvency, reorganization or other similar
law. The term “Custodian” means any custodian, receiver, trustee, assignee, liquidator, sequestrator or other
similar official under any Bankruptcy Law.

 

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

 

(1)           is
for relief against the Company in an involuntary case or proceeding, or

 

(2)           adjudges
the Company bankrupt or insolvent, or approves as properly filed a petition seeking reorganization, arrangement, adjustment or
composition of or in respect of the Company, or

 

(3)           appoints
a Custodian of the Company or for all or substantially all of its property, or

 

(4)           orders
the winding up or liquidation of the Company, and the continuance of any such decree or order for relief or any such other
decree or order remains unstayed and in effect for a period of 60 consecutive days; or

 

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(k)           if, pursuant to Sections 18(a)(1)(C)(ii) and
61 of the Investment Company Act, or any successor provisions, on the last business day of each of twenty-four consecutive calendar
months any class of Securities shall have an asset coverage (as such term is used in the Investment Company Act) of less than 100%,
giving effect to any amendments to such provisions of the Investment Company Act or to any exemptive relief granted to the Company
by the Commission.

 

Section 6.02.        Acceleration;
Rescission and Annulment

 

If one or more Events of Default shall have
occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be
effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of
any administrative or governmental body), then, and in each and every such case (other than an Event of Default specified in Section 6.01(j) with
respect to the Company), unless the principal of all of the Notes shall have already become due and payable, either the Trustee
or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding determined in accordance with Section 8.04,
by notice in writing to the Company (and to the Trustee if given by Holders), may declare 100% of the principal of, and accrued
and unpaid interest on, all the Notes to be due and payable immediately, and upon any such declaration the same shall become and
shall automatically be immediately due and payable, anything contained in the Indenture or in the Notes to the contrary notwithstanding.
If an Event of Default specified in Section 6.01(j) with respect to the Company occurs, 100% of the principal
of, and accrued and unpaid interest, if any, on, all Notes shall become and shall automatically be immediately due and payable.

 

The immediately preceding paragraph, however,
is subject to the conditions that if, at any time after the principal of, and interest on, the Notes shall have been so declared
due and payable, and before any judgment or decree for the payment of the monies due shall have been obtained or entered as hereinafter
provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay installments of accrued and unpaid interest
upon all Notes and the principal of any and all Notes that shall have become due otherwise than by acceleration (with interest
on overdue installments of accrued and unpaid interest to the extent that payment of such interest is enforceable under applicable
law, and on such principal at the rate borne by the Notes plus one percent at such time) and amounts due to the Trustee
pursuant to Section 7.06, and if (1) rescission would not conflict with any judgment or decree of a court of competent
jurisdiction and (2) any and all existing Events of Default under the Indenture, other than the nonpayment of the principal
of and accrued and unpaid interest, if any, on Notes that shall have become due solely by such acceleration, shall have been cured
or waived pursuant to Section 6.09, then and in every such case (except as provided in the immediately succeeding sentence)
the Holders of a majority in aggregate principal amount of the Notes then outstanding, by written notice to the Company and to
the Trustee, may waive all Defaults or Events of Default with respect to the Notes and rescind and annul such declaration and its
consequences and such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured
for every purpose of the Indenture; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent
Default or Event of Default, or shall impair any right consequent thereon. Notwithstanding anything to the contrary herein, no
such waiver or rescission and annulment shall extend to or shall affect any Default or Event of Default resulting from (i) the
nonpayment of the principal (including the Fundamental Change Purchase Price or the Forced Conversion Consideration, if applicable)
of, or accrued and unpaid interest on, any Notes, (ii) a failure to purchase any Notes when required, or (iii) a failure
to pay or deliver, as the case may be, the consideration due upon conversion of the Notes.

 

Section 6.03.        Additional
Interest

 

If at any time a Below Investment Grade
Rating Event occurs, then as of the date of the occurrence of the Below Investment Grade Rating Event to and until the date on
which the Notes have received an Investment Grade Rating from a Rating Agency, the Notes shall bear Additional Interest at an annual
rate equal to 0.75% of the aggregate principal amount of the Notes. Any such Additional Interest shall be payable in the same manner
and on the same dates as the stated interest payable on the Notes, pursuant to this Supplemental Indenture.

 

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Section 6.04.        Payments
of Notes on Default; Suit Therefor

 

If an Event of Default described in clause
(a), (c), or (e) of Section 6.01 shall have occurred, the Company shall, upon demand of the
Trustee, pay to the Trustee, for the benefit of the Holders of the Notes, the whole amount then due and payable on the Notes for
principal and interest, if any, with interest on any overdue principal and interest, if any, at the rate borne by the Notes plus
one percent at such time, and, in addition thereto, such further amount as shall be sufficient to cover any amounts due to the
Trustee under Section 7.06. If the Company shall 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 Company or any other obligor
upon the Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the
Company or any other obligor upon the Notes, wherever situated.

 

In the event there shall be pending proceedings
for the bankruptcy or for the reorganization of the Company or any other obligor on the Notes under Title 11 of the United States
Code, or any other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator
or similar official shall have been appointed for or taken possession of the Company or such other obligor, the property of the
Company or such other obligor, or in the event of any other judicial proceedings relative to the Company or such other obligor
upon the Notes, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the
principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether
the Trustee shall have made any demand pursuant to the provisions of this Section 6.04, shall be entitled and empowered,
by intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal and accrued
and unpaid interest, if any, in respect of the Notes, and, in case of any judicial proceedings, to file such proofs of claim and
other papers or documents and to take such other actions as it may deem 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, the Paying Agent,
and the Note Registrar, and their respective agents and counsel) and of the Holders allowed in such judicial proceedings relative
to the Company or any other obligor on the Notes, its or their creditors, or its or their property, and to collect and receive
any monies or other property payable or deliverable on any such claims, and to distribute the same after the deduction of any amounts
due to the Trustee under Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization, liquidator,
custodian or similar official is hereby authorized by each of the Holders to make such payments to the Trustee, as administrative
expenses, and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the
Trustee, the Paying Agent, and the Note Registrar any amount due to each for their respective reasonable compensation, expenses,
advances and disbursements, including their respective agents and counsel fees, and including any other amounts due to the Trustee
under Section 7.06, incurred by it up to the date of such distribution. To the extent that such payment of reasonable
compensation, expenses, advances and disbursements out of the estate in any such proceedings shall be denied for any reason, payment
of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, monies, securities and
other property that the Holders of the Notes may be entitled to receive in such proceedings, 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 such Holder 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.

 

All rights of action and of asserting claims
under the Indenture, or under any of the Notes, may be enforced by the Trustee without the possession of any of the Notes, or the
production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding instituted by the Trustee
shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment
of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable
benefit of the Holders of the Notes.

 

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

 

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In case the Trustee shall have proceeded
to enforce any right under the Indenture and such proceedings shall have been discontinued or abandoned because of any waiver pursuant
to Section 6.09 or any rescission and annulment pursuant to Section 6.02 or for any other reason or shall
have been determined adversely to the Trustee, then and in every such case the Company, the Holders and the Trustee shall, subject
to any determination in such proceeding, be restored respectively to their several positions and rights hereunder, and all rights,
remedies and powers of the Company, the Holders and the Trustee shall continue as though no such proceeding had been instituted.

 

Section 6.05.        Application
of Monies Collected by Trustee

 

Any monies collected by the Trustee pursuant
to this Article 6 with respect to the Notes shall be applied in the following order, at the date or dates fixed by
the Trustee for the distribution of such monies, upon presentation of the several Notes, and stamping thereon the payment, if only
partially paid, and upon surrender thereof, if fully paid:

 

First, to the payment of all amounts
due the Trustee and any predecessor Trustee under Section 7.06 and any other agent hereunder;

 

Second, in case the principal of
the outstanding Notes shall not have become due and be unpaid, to the payment of interest on, and any cash due upon conversion
of, the Notes in default in the order of the date due of the payments of such interest and cash due upon conversion, as the case
may be, with interest (to the extent that such interest has been collected by the Trustee) upon such overdue payments at the rate
borne by the Notes at such time plus one percent (to the extent permitted by applicable law), such payments to be made ratably
to the Persons entitled thereto;

 

Third, in case the principal of the
outstanding Notes shall have become due, by declaration or otherwise, and be unpaid to the payment of the whole amount (including,
if applicable, the payment of the Fundamental Change Purchase Price, the payment of the Forced Conversion Consideration, and any
cash due upon conversion) then owing and unpaid upon the Notes for principal and interest, if any, with interest on the overdue
principal and, to the extent that such interest has been collected by the Trustee, upon overdue installments of interest at the
rate borne by the Notes at such time plus one percent (to the extent permitted by applicable law), and in case such monies
shall be insufficient to pay in full the whole amounts so due and unpaid upon the Notes, then to the payment of such principal
(including, if applicable, the Fundamental Change Purchase Price, the Forced Conversion Consideration, and the cash due upon conversion)
and interest without preference or priority of principal over interest, or of interest over principal or of any installment of
interest over any other installment of interest, or of any Note over any other Note, ratably to the aggregate of such principal
(including, if applicable, the Fundamental Change Purchase Price, the Forced Conversion Consideration, and any cash due upon conversion)
and accrued and unpaid interest; and

 

Fourth, to the payment of the remainder,
if any, to the Company or any other Person or Persons entitled thereto.

 

Section 6.06.        Proceedings
by Holders

 

Except to enforce the right to receive payment
of principal (including, if applicable, the Fundamental Change Purchase Price or the Forced Conversion Consideration) or interest
when due, or the right to convert its Note or to receive delivery of the consideration due upon conversion or the right of a beneficial
owner to exchange its beneficial interest in a Global Note for a Physical Note pursuant to Section 2.06(c) if
an Event of Default has occurred and is continuing, no Holder of any Note shall have any right by virtue of or by availing of any
provision of the Indenture to institute any suit, action or proceeding in equity or at law upon or under or with respect to the
Indenture, or for the appointment of a receiver, trustee, liquidator, custodian or other similar official, or for any other remedy
hereunder, unless:

 

(a)           such Holder previously shall
have given to the Trustee written notice of an Event of Default and of the continuance thereof, as herein provided;

 

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(b)           Holders
of at least 25% in aggregate principal amount of the Notes then outstanding shall have made written request upon the Trustee to
institute such action, suit or proceeding in its own name as Trustee hereunder and such Holders shall have offered to the Trustee
such indemnity, security or both, satisfactory to it against any loss, liability or expense to be incurred therein or thereby;
and

 

(c)           the
Trustee shall have failed to institute such proceeding within 60 days after such notice, request and offer and shall not have
received from the Holders of a majority in aggregate principal amount of the Notes then outstanding a direction inconsistent
with such request within 60 days after such notice, request and offer, it being understood and intended, and being expressly
covenanted by the taker and Holder of every Note with every other taker and Holder and the Trustee that no one or more
Holders shall have any right in any manner whatever by virtue of or by availing of any provision of the Indenture to affect,
disturb or prejudice the rights of any other Holder, or to obtain or seek to obtain priority over or preference to any other
such Holder, or to enforce any right under the Indenture, except in the manner herein provided and for the equal, ratable and
common benefit of all Holders (except as otherwise provided herein). For the protection and enforcement of this Section 6.06,
each and every Holder and the Trustee shall be entitled to such relief as can be given either at law or in equity.

 

Notwithstanding any other provision of the
Indenture and any provision of any Note, the right of any Holder to receive payment or delivery, as the case may be, of (x) the
principal (including the Fundamental Change Purchase Price and the Forced Conversion Consideration, if applicable) of, (y) accrued
and unpaid interest, if any, on, and (z) the consideration due upon conversion of, such Note, on or after the respective due
dates expressed or provided for in such Note or in the Indenture, or to institute suit for the enforcement of any such payment
or delivery, as the case may be, on or after such respective dates against the Company shall not be impaired or affected without
the consent of such Holder.

 

Section 6.07.        Proceedings
by Trustee

 

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

 

Section 6.08.        Remedies
Cumulative and Continuing

 

Except as provided in the last paragraph
of Section 2.07, all powers and remedies given by this Article 6 to the Trustee or to the Holders shall,
to the extent permitted by law, be deemed cumulative and not exclusive of any thereof or of any other powers and remedies available
to the Trustee or the Holders of the Notes, by judicial proceedings or otherwise, to enforce the performance or observance of the
covenants and agreements contained in the Indenture, and no delay or omission of the Trustee or of any Holder of any of the Notes
to exercise any right or power accruing upon any Default or Event of Default shall impair any such right or power, or shall be
construed to be a waiver of any such Default or Event of Default or any acquiescence therein; and, subject to the provisions of
Section 6.06, every power and remedy given by this Article 6 or by law to the Trustee or to the Holders
may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Holders.

 

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Section 6.09.        Direction
of Proceedings and Waiver of Defaults by Majority of Holders

 

The Holders of a majority of the aggregate
principal amount of the Notes at the time outstanding determined in accordance with Section 8.04 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 Notes; provided, however, that (a) such direction shall
not be in conflict with any rule of law or with the Indenture, (b) the Trustee may take any other action deemed proper
by the Trustee that is not inconsistent with such direction and (c) subject to Section 7.01, the Trustee shall
be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders
unless such Holders have offered to the Trustee indemnity and/or security satisfactory to it against any loss, liability or expense
that might be incurred by it in compliance with such request or direction. The Trustee may refuse to follow any direction that
it determines is unduly prejudicial to the rights of any other Holder or that may involve it in personal liability (it being understood
that the Trustee does not have an affirmative duty to ascertain whether or not any such directions are unduly prejudicial to such
Holders). The Holders of a majority in aggregate principal amount of the Notes at the time outstanding determined in accordance
with Section 8.04 may on behalf of the Holders of all of the Notes waive any past Default or Event of Default hereunder
and its consequences except (i) a failure by the Company to pay accrued and unpaid interest, if any, on, or the principal
(including any Fundamental Change Purchase Price or any Forced Conversion Consideration) of, the Notes when due, (ii) a failure
by the Company to deliver the consideration due upon conversion of the Notes within the time period required hereunder or (iii) a
default in respect of a covenant or provision hereof which under Article 10 cannot be modified or amended without the
consent of each Holder of an outstanding Note affected. Upon any such waiver the Company, the Trustee and the Holders of the Notes
shall be restored to their former positions and rights hereunder; but no such waiver shall extend to any subsequent or other Default
or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been
waived as permitted by this Section 6.09, said Default or Event of Default shall for all purposes of the Notes and
the Indenture be deemed to have been cured and to be not continuing; but no such waiver shall extend to any subsequent or other
Default or Event of Default or impair any right consequent thereon.

 

Section 6.10.        Notice
of Defaults

 

The Trustee shall, within 90 days after
the occurrence and continuance of a Default of which a Responsible Officer has actual knowledge, mail to all Holders as the names
and addresses of such Holders appear upon the Note Register, notice of all Defaults known to a Responsible Officer, unless such
Defaults shall have been cured or waived before the giving of such notice; provided, however, that, except in the
case of a Default in the payment of the principal of (including the Fundamental Change Purchase Price or the Forced Conversion
Consideration, if applicable), or accrued and unpaid interest on, any of the Notes or a Default in the delivery of the consideration
due upon conversion, the Trustee shall be protected in withholding such notice if and so long as a committee of Responsible Officers
of the Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

 

Section 6.11.        Undertaking
for Costs

 

All parties to the Indenture agree, and
each Holder of any Note 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 the Indenture, or in any suit against the Trustee for any action taken
or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit and
that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against
any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant;
provided, however, that the provisions of this Section 6.11 (to the extent permitted by law) shall not
apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate
more than 10% in principal amount of the Notes at the time outstanding determined in accordance with Section 8.04,
or to any suit instituted by any Holder for the enforcement of the payment of the principal of or accrued and unpaid interest,
if any, on any Note (including, but not limited to, the Fundamental Change Purchase Price, if applicable) on or after the due date
expressed or provided for in such Note or to any suit for the enforcement of the right to convert any Note in accordance with the
provisions of Article 13.

 

ARTICLE
7.
 CONCERNING THE TRUSTEE

 

Section 7.01.        Duties
and Responsibilities of Trustee

 

Section 6.01 of the Base Indenture
shall not apply to the Notes. Instead, the provisions of this Section 7.01 shall, with respect to the Notes, supersede in
its entirety Section 6.01 of the Base Indenture and all references in the Base Indenture to Section 6.01 thereof shall
be deemed, for the purposes of the Notes, to be references to this Section 7.01.

 

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The Trustee, prior to the occurrence of
an Event of Default and after the curing or waiver of all Events of Default that may have occurred, undertakes to perform such
duties and only such duties as are specifically set forth in the Indenture. In the event an Event of Default has occurred and
is continuing, the Trustee shall exercise such of the rights and powers vested in it by the Indenture, and use the same degree
of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s
own affairs.

 

No provision of the Indenture shall be construed
to relieve the Trustee from liability for its own grossly negligent action, its own grossly negligent failure to act or its own
willful misconduct, except that:

 

(a)           prior to the time when the
occurrence of an Event of Default becomes known to a Responsible Officer of the Trustee and after the curing or waiving of all
Events of Default that may have occurred:

 

(i)            the duties and obligations
of the Trustee shall be determined solely by the express provisions of the Indenture, and the Trustee shall not be liable except
for the performance of such duties and obligations as are specifically set forth in the Indenture and no implied covenants or obligations
shall be read into the Indenture against the Trustee; and

 

(ii)           in the absence of bad faith
and willful misconduct on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the
requirements of the Indenture; but, in the case of any such certificates or opinions that by any provisions hereof are specifically
required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they
conform to the requirements of the Indenture (but need not confirm or investigate the accuracy of any mathematical calculations
or other facts stated therein);

 

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

 

(c)           the Trustee shall not be liable
with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of
not less than a majority of the aggregate principal amount of the Notes at the time outstanding determined as provided in Section 8.04
relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any
trust or power conferred upon the Trustee, under the Indenture;

 

(d)           whether or not therein provided,
every provision of the Indenture relating to the conduct or affecting the liability of, or affording protection to, the Trustee
shall be subject to the provisions of this Section 7.01;

 

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

 

(f)            if any party fails to deliver
a notice relating to an event the fact of which, pursuant to the Indenture, requires notice to be sent to the Trustee, excluding
any Default in the payment of principal (the Fundamental Change Purchase Price or the Forced Conversion Consideration, if applicable)
of, or interest on, the Notes, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no
such event occurred, unless a Responsible Officer of the Trustee had actual knowledge of such event;

 

(g)           all cash received by the Trustee
shall be placed in a non-interest bearing trust account;

 

(h)           in the event that the Trustee
is also acting as Custodian, Note Registrar, Paying Agent, Conversion Agent or transfer agent hereunder, the rights, privileges,
immunities, indemnities and protections afforded to the Trustee pursuant to this Article 7 (including the right to
be indemnified) shall also be afforded to such Custodian, Note Registrar, Paying Agent, Conversion Agent or transfer agent; and

 

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(i)            the Trustee shall be under
no obligation to exercise any of the rights or powers vested in it by the Indenture at the request or direction of any of the Holders
pursuant to the Indenture, unless such Holders shall have offered to the Trustee security and/or indemnity satisfactory to it against
the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

 

None of the provisions contained in the
Indenture shall require the Trustee to expend or risk its own funds, give any bond or surety in respect of the performance of its
powers and duties hereunder, or otherwise incur personal financial liability in the performance of any of its duties or in the
exercise of any of its rights or powers.

 

Every provision in the Indenture relating
to the conduct of, or affecting the liability of, or affording protection to the Trustee shall be subject to the relevant provisions
of this Article 7.

 

Section 7.02.        Reliance
on Documents, Opinions, Etc.

 

Except as otherwise provided in Section 7.01:

 

(a)           the Trustee may conclusively
rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, direction, statement, instrument,
opinion, report, notice, request, consent, order, bond, debenture, note, coupon or other paper or document believed by it in good
faith to be genuine and to have been signed or presented by the proper party or parties;

 

(b)           any request, direction, order
or demand of the Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate (unless other evidence
in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced to the Trustee by a copy thereof
certified by the Secretary or an Assistant Secretary of the Company. Whenever in the administration of the Indenture the Trustee
shall deem it desirable that a matter be provided or established prior to taking, suffering or omitting any action hereunder, the
Trustee (unless other evidence be herein specifically prescribed) may require and, in the absence of bad faith on its part, rely
upon a Board Resolution, an Opinion of Counsel or an Officers’ Certificate;

 

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

 

(d)           the Trustee shall not be bound
to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, direction, consent, order, bond, debenture or other paper or document, but the Trustee, in its discretion, may
make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to
make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally
or by agent or attorney at the expense of the Company and shall incur no liability of any kind by reason of such inquiry or investigation;

 

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

 

(f)            the rights, privileges, protections,
immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and
shall be enforceable by, the Trustee in each of its capacities hereunder, and to each agent, custodian and other Person retained
to act hereunder;

 

(g)           the Trustee shall not be liable
for any action taken or omitted to be taken by it in good faith and believed by it to be authorized or within the discretion or
rights or powers conferred upon it by the Indenture;

 

(h)           the Trustee may request that
the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of officers authorized
at such time to take specified actions pursuant to the Indenture, which Officers’ Certificate may be signed by any person
authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate previously
delivered and not superseded; and

 

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(i)            the permissive rights of the
Trustee enumerated herein shall not be construed as duties.

 

Anything in the Indenture notwithstanding,
in no event shall the Trustee be liable for any special, indirect, punitive or consequential 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 and
regardless of the form of action. The Trustee shall not be charged with knowledge of any Default or Event of Default with respect
to the Notes, other than a Default relating to a failure by the Company to pay the principal (including the Fundamental Change
Purchase Price or the Forced Conversion Consideration, if applicable) of, or interest on, the Notes, unless either (1) a Responsible
Officer shall have actual knowledge of such Default or Event of Default, or (2) written notice of such Default or Event of
Default shall have been given to the Trustee by the Company or by any Holder of the Notes and such notice references the Notes
and the Indenture.

 

Section 7.03.        No
Responsibility for Recitals, Etc.

 

The recitals contained herein and in the
Notes (except in the Trustee’s certificate of authentication) shall be taken as the statements of the Company, and the Trustee
assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency
of the Indenture or of the Notes. The Trustee nor any authenticating agent shall not be accountable for the use or application
by the Company of any Notes or the proceeds of any Notes authenticated and delivered by the Trustee in conformity with the provisions
of the Indenture.

 

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

 

The Trustee, any Paying Agent, any Conversion
Agent or Note Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes with the same rights
it would have if it were not the Trustee, Paying Agent, Conversion Agent or Note Registrar.

 

Section 7.05.        Monies
to Be Held in Trust

 

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

 

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Section 7.06.        Compensation
and Expenses of Trustee

 

Section 6.06 of the Base Indenture
shall not apply to the Notes. Instead, the provisions of this Section 7.06 shall, with respect to the Notes, supersede in
its entirety Section 6.06 of the Base Indenture and all references in the Base Indenture to Section 6.06 thereof shall
be deemed, for the purposes of the Notes, to be references to this Section 7.06. The Company covenants and agrees to pay
to the Trustee and any predecessor Trustee from time to time, and the Trustee shall be entitled to, compensation for all services
rendered by it hereunder in any capacity (which shall not be limited by any provision of law in regard to the compensation of
a trustee of an express trust) as mutually agreed to from time to time in writing between the Trustee and the Company, and the
Company shall pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances reasonably
incurred or made by the Trustee in accordance with any of the provisions of the Indenture in any capacity thereunder (including
the reasonable compensation and the expenses and disbursements of its agents and counsel and of all Persons not regularly in its
employ) except any such expense, disbursement or advance as shall have been caused by its gross negligence or willful misconduct
as determined by a court of competent jurisdiction in a final and non-appealable decision. The Company also covenants to indemnify
the Trustee or any predecessor Trustee and their respective officers, directors, employees and representatives in any capacity
under the Indenture and any other document or transaction entered into in connection herewith and its agents and any authenticating
agent for, and to hold them harmless against, any loss, claim, damage, liability or expense incurred without gross negligence
or willful misconduct (misconduct as determined by a court of competent jurisdiction in a final and non-appealable decision) on
the part of the Trustee or any predecessor Trustee and their respective officers, directors, agents or employees, or such agent
or authenticating agent, as the case may be, and arising out of or in connection with the acceptance or administration of the
Indenture or in any other capacity hereunder, including the costs and expenses of defending themselves against any claim of liability
in connection with the exercise or performance of any of its powers or duties hereunder (whether asserted by any Holder, the Company
or otherwise). The Trustee shall notify the Company promptly of any third-party claim for which it may seek indemnity of which
it has received written notice. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations
hereunder unless, and solely to the extent that, such failure materially prejudices the Company’s defense of such claim.
The Company shall defend the claim, with counsel reasonably satisfactory to the Trustee, and the Trustee shall provide reasonable
cooperation at the Company’s expense in the defense; provided, however, that if the defendants in any such
claim include both the Company and the Trustee and the Trustee shall have concluded that there may be legal defenses available
to it which are different from or additional to those available to the Company, or the Trustee has concluded that there may be
any other actual or potential conflicting interests between the Company and the Trustee, the Trustee shall have the right to select
separate counsel and the Company shall be required to pay the reasonable fees and expenses of such separate counsel. Any settlement
which affects the Trustee may not be entered into without the written consent of the Trustee, unless the Trustee is given a full
and unconditional release from liability with respect to the claims covered thereby and such settlement does not include a statement
or admission of fault, culpability or failure to act by or on behalf of the Trustee. Any settlement by the Trustee which affects
the Company may not be entered into without the written consent of the Company, unless such settlement does not include a statement
or admission of fault, culpability or failure to act by or on behalf of the Company. The obligations of the Company under this
Section 7.06 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements
and advances shall be secured by a senior claim to which the Notes are hereby made subordinate on all money or property held or
collected by the Trustee, except, subject to the effect of Section 6.05, funds held in trust herewith for the benefit
of the Holders of particular Notes. The Trustee’s right to receive payment of any amounts due under this Section 7.06
shall not be subordinate to any other liability or indebtedness of the Company. The obligation of the Company under this Section 7.06
shall survive the satisfaction and discharge of the Indenture and the earlier resignation or removal or the Trustee. The indemnification
provided in this Section 7.06 shall extend to the officers, directors, agents and employees of the Trustee (including
the reasonable fees and expenses of its agents and counsel).

 

Without prejudice to any other rights available
to the Trustee under applicable law, when the Trustee and its agents and any authenticating agent incur expenses or render services
after an Event of Default specified in Section 6.01(j) occurs, the expenses and the compensation for the services
are intended to constitute expenses of administration under any bankruptcy, insolvency or similar laws.

 

Section 7.07.        Officers’
Certificate as Evidence

 

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

 

ARTICLE 8.

CONCERNING THE HOLDERS

 

Section 8.01.        Action
by Holders

 

Whenever in the Indenture it is provided
that the Holders of a specified percentage of the aggregate principal amount of the Notes may take any action (including the making
of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the
time of taking any such action, the Holders of such specified percentage have joined therein may be evidenced Article 11
by any instrument or any number of instruments of similar tenor executed by Holders in person or by agent or proxy appointed in
writing, or Article 12 by the record of the Holders voting in favor thereof at any meeting of Holders duly called and
held in accordance with the provisions of Article 9 by a combination of such instrument or instruments and any such
record of such a meeting of Holders. Whenever the Company or the Trustee solicits the taking of any action by the Holders of the
Notes, the Company or the Trustee may, but shall not be required to, fix in advance of such solicitation, a date as the record
date for determining Holders entitled to take such action. The record date if one is selected shall be not more than fifteen days
prior to the date of commencement of solicitation of such action.

 

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Section 8.02.        Proof
of Execution by Holders

 

Subject to the provisions of Section 7.01,
Section 7.02 and Section 9.05, proof of the execution of any instrument by a Holder or its agent or proxy
shall be sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or
in such manner as shall be satisfactory to the Trustee. The holding of Notes shall be proved by the Note Register or by a certificate
of the Note Registrar. The record of any Holders’ meeting shall be proved in the manner provided in Section 9.06.

 

Section 8.03.       Who
Are Deemed Absolute Owners

 

The Company, the Trustee, any authenticating
agent, any Paying Agent, any Conversion Agent and any Note Registrar may deem the Person in whose name a Note shall be registered
upon the Note Register to be, and may treat it as, the absolute owner of such Note (whether or not such Note shall be overdue and
notwithstanding any notation of ownership or other writing thereon made by any Person other than the Company or any Note Registrar)
for the purpose of receiving payment of or on account of the principal of and (subject to Section 2.04) accrued and
unpaid interest on such Note, for conversion of such Note and for all other purposes; and neither the Company nor the Trustee nor
any Paying Agent nor any Conversion Agent nor any Note Registrar shall be affected by any notice to the contrary. All such payments
or deliveries so made to any Holder for the time being, or upon its order, shall be valid, and, to the extent of the sums or shares
of Common Stock so paid or delivered, effectual to satisfy and discharge the liability for monies payable or shares deliverable
upon any such Note. Notwithstanding anything to the contrary in the Indenture or the Notes following an Event of Default, any Holder
of a beneficial interest in a Global Note may directly enforce against the Company, without the consent, solicitation, proxy, authorization
or any other action of the Depositary or any other Person, such Holder’s right to exchange such beneficial interest for a
Note in certificated form in accordance with the provisions of the Indenture.

 

Section 8.04.        Company-Owned
Notes Disregarded

 

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

 

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Section 8.05.        Revocation
of Consents; Future Holders Bound

 

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

 

ARTICLE
9.
 HOLDERS’ MEETINGS

 

Article Fifteen of the Base Indenture
shall not apply to the Notes. Instead, the provisions of this Article 9 shall, with respect to the Notes, supersede in its
entirety Article Fifteen of the Base Indenture and all references in the Base Indenture to Article Fifteen thereof shall
be deemed, for the purposes of the Notes, to be references to this Article 9.

 

Section 9.01.        Purpose
of Meetings

 

A meeting of Holders may be called at any
time and from time to time pursuant to the provisions of this Article 9 for any of the following purposes:

 

(a)           to give any notice to the
Company or to the Trustee or to give any directions to the Trustee permitted under the Indenture, or to consent to the waiving
of any Default or Event of Default hereunder (in each case, as permitted under the Indenture) and its consequences, or to take
any other action authorized to be taken by Holders pursuant to any of the provisions of Article 6;

 

(b)           to remove the Trustee and
nominate a successor trustee pursuant to the provisions of Article 7;

 

(c)           to consent to the execution
of an indenture or indentures supplemental hereto pursuant to the provisions of Section 10.02; or

 

(d)           to take any other action authorized
to be taken by or on behalf of the Holders of any specified aggregate principal amount of the Notes under any other provision of
the Indenture or under applicable law.

 

Section 9.02.        Call
of Meetings by Trustee

 

The Trustee may at any time call a meeting
of Holders to take any action specified in Section 9.01, to be held at such time and at such place as the Trustee shall
determine. Notice of every meeting of the Holders, setting forth the time and the place of such meeting and in general terms the
action proposed to be taken at such meeting and the establishment of any record date pursuant to Section 8.01, shall
be mailed to Holders of such Notes at their addresses as they shall appear on the Note Register. Such notice shall also be mailed
to the Company. Such notices shall be mailed not less than 20 nor more than 90 days prior to the date fixed for the meeting.

 

Any meeting of Holders shall be valid without
notice if the Holders of all Notes then outstanding are present in person or by proxy or if notice is waived before or after the
meeting by the Holders of all Notes then outstanding, and if the Company and the Trustee are either present by duly authorized
representatives or have, before or after the meeting, waived notice.

 

Section 9.03.        Call
of Meetings by Company or Holders

 

In case at any time the Company, pursuant
to a Board Resolution, or the Holders of at least 10% of the aggregate principal amount of the Notes then outstanding, shall have
requested the Trustee to call a meeting of Holders, by written request setting forth in reasonable detail the action proposed to
be taken at the meeting, and the Trustee shall not have mailed the notice of such meeting within 20 days after receipt of such
request, then the Company or such Holders may determine the time and the place for such meeting and may call such meeting to take
any action authorized in Section 9.01, by mailing notice thereof as provided in Section 9.02.

 

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Section 9.04.        Qualifications
for Voting

 

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

 

Section 9.05.        Regulations

 

Notwithstanding any other provisions of
the Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders, in regard
to proof of the holding of Notes and of the appointment of proxies, and in regard to the appointment and duties of inspectors of
votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters
concerning the conduct of the meeting as it shall think fit.

 

The Trustee shall, by an instrument in writing,
appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Holders as provided
in Section 9.03, in which case the Company or the Holders calling the meeting, as the case may be, shall in like manner
appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Holders
of a majority in aggregate principal amount of the Notes represented at the meeting and entitled to vote at the meeting.

 

Subject to the provisions of Section 8.04,
at any meeting of Holders each Holder or proxyholder shall be entitled to one vote for each $1,000 principal amount of Notes held
or represented by him or her; provided, however, that no vote shall be cast or counted at any meeting in respect
of any Note challenged as not outstanding and ruled by the chairman of the meeting to be not outstanding. The chairman of the meeting
shall have no right to vote other than by virtue of Notes held by it or instruments in writing as aforesaid duly designating it
as the proxy to vote on behalf of other Holders. Any meeting of Holders duly called pursuant to the provisions of Section 9.02
or Section 9.03 may be adjourned from time to time by the Holders of a majority of the aggregate principal amount of
Notes represented at the meeting, whether or not constituting a quorum, and the meeting may be held as so adjourned without further
notice.

 

Section 9.06.        Voting

 

The vote upon any resolution submitted to
any meeting of Holders shall be by written ballot on which shall be subscribed the signatures of the Holders or of their representatives
by proxy and the outstanding aggregate principal amount of the Notes held or represented by them. The permanent chairman of the
meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who
shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting.
A record in duplicate of the proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there
shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits
by one or more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice
was mailed as provided in Section 9.02. The record shall show the aggregate principal amount of the Notes voting in
favor of or against any resolution. The record shall be signed and verified by the affidavits of the permanent chairman and secretary
of the meeting and one of the duplicates shall be delivered to the Company and the other to the Trustee to be preserved by the
Trustee, the latter to have attached thereto the ballots voted at the meeting.

 

Any record so signed and verified shall
be conclusive evidence of the matters therein stated.

 

Section 9.07.        No
Delay of Rights by Meeting

 

Nothing contained in this Article 9
shall be deemed or construed to authorize or permit, by reason of any call of a meeting of Holders or any rights expressly or impliedly
conferred hereunder to make such call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved
to the Trustee or to the Holders under any of the provisions of the Indenture or of the Notes.

 

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ARTICLE
10.
 SUPPLEMENTAL INDENTURES

 

Article Nine of the Base Indenture
shall not apply to the Notes. Instead, the provisions of this Article 10 shall, with respect to the Notes, supersede in its
entirety Article Nine of the Base Indenture and all references in the Base Indenture to Article Nine thereof shall be
deemed, for the purposes of the Notes, to be references to this Article 10.

 

Section 10.01.      Supplemental
Indentures without Consent of Holders

 

The Company, when authorized by the resolutions
of the Board of Directors and the Trustee, at the Company’s expense, may from time to time and at any time enter into an
indenture or indentures supplemental hereto for one or more of the following purposes:

 

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

 

(b)           to provide for the assumption
by a Successor Company of the obligations of the Company under the Indenture and the Notes;

 

(c)           to add guarantees with respect
to the Notes;

 

(d)           to secure the Notes;

 

(e)           to add to the covenants of
the Company for the benefit of the Holders or surrender any right or power conferred upon the Company;

 

(f)            to make any change that does
not adversely affect the rights of any Holder;

 

(g)           upon the occurrence of any
Share Exchange Event, solely (i) to provide that the Notes are convertible into Reference Property, and (ii) effect the
related changes to the terms of the Notes to the extent expressly required by Section 13.08, in each case, in accordance
with Section 13.08; or

 

(h)           to conform the provisions
of the Indenture or the Notes to the “Description of Notes” section of the Offering Memorandum.

 

Upon the written request of the Company,
the Trustee is hereby authorized to join with the Company in the execution of any such supplemental indenture, to make any further
appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to, but may in its
discretion, enter into any supplemental indenture that affects the Trustee’s own rights, duties or immunities under the Indenture
or otherwise.

 

Any supplemental indenture authorized by
the provisions of this Section 10.01 may be executed by the Company and the Trustee without the consent of the Holders
of any of the Notes at the time outstanding, notwithstanding any of the provisions of Section 10.02.

 

Section 10.02.      Supplemental
Indentures with Consent of Holders

 

With the consent (evidenced as provided
in Article 8) of the Holders of at least a majority of the aggregate principal amount of the Notes then outstanding
(determined in accordance with Article 8 and including, without limitation, consents obtained in connection with a
repurchase of, or tender or exchange offer for, Notes), the Company, when authorized by the resolutions of the Board of Directors
and the Trustee, at the Company’s expense, may from time to time and at any time enter into an indenture or indentures supplemental
hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture
or any supplemental indenture or of modifying in any manner the rights of the Holders, or waiving the Company’s compliance
in any instance with any provision of the Indenture or the Notes, without notice to the other Holders of the Notes; provided,
however, that, without the consent of each Holder of an outstanding Note affected, no such supplemental indenture shall:

 

    36 

     

    

 

(a)           change the stated maturity
date of the principal of or any interest on the Notes;

 

(b)           reduce the principal amount
of or interest on the Notes;

 

(c)           reduce the amount of principal
payable upon acceleration of the maturity of the Notes;

 

(d)           change the currency of payment
of principal of or interest on the Notes or change any Note’s place of payment;

 

(e)           impair the right of any Holder
to receive payment of principal of and interest on such Holder’s Notes on or after the due dates therefor or to institute
suit for the enforcement of any payment on, or with respect to, the Notes;

 

(f)            modify the provisions set
forth in Article 14 in a manner adverse to Holders of Notes;

 

(g)           change the ranking of the
Notes;

 

(h)           adversely affect the right
of Holders to convert their Notes, or to reduce the consideration due upon conversion; or

 

(i)            modify this Article 10
or the provisions in Section 6.09 relating to waivers of Events of Default.

 

Upon the written request of the Company,
and upon the filing with the Trustee of evidence of the consent of Holders as aforesaid and subject to Section 10.05,
the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects
the Trustee’s own rights, duties or immunities under the Indenture or otherwise, in which case the Trustee may in its discretion,
but shall not be obligated to, enter into such supplemental indenture.

 

Holders do not need under this Section 10.02
to approve the particular form of any proposed supplemental indenture. It shall be sufficient if such Holders approve the substance
thereof. After any such supplemental indenture becomes effective, the Company shall mail to the Holders a notice briefly describing
such supplemental indenture. However, the failure to give such notice to all the Holders, or any defect in the notice, shall not
impair or affect the validity of the supplemental indenture.

 

Section 10.03.      Effect
of Supplemental Indentures

 

Upon the execution of any supplemental indenture
pursuant to the provisions of this Article 10, the Indenture shall be and be deemed to be modified and amended in accordance
therewith and the respective rights, limitation of rights, obligations, duties and immunities under the Indenture of the Trustee,
the Company and the Holders shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications
and amendments and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms
and conditions of the Indenture for any and all purposes.

 

Section 10.04.      Notation
on Notes

 

Notes authenticated and delivered after
the execution of any supplemental indenture pursuant to the provisions of this Article 10 may, at the Company’s
expense, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company
or the Trustee shall so determine, new Notes so modified as to conform, in the opinion of the Trustee and the Board of Directors,
to any modification of the Indenture contained in any such supplemental indenture may, at the Company’s expense, be prepared
and executed by the Company, authenticated by the Trustee (or an authenticating agent duly appointed by the Trustee pursuant to
Section 16.10) and delivered in exchange for the Notes then outstanding, upon surrender of such Notes then outstanding.

 

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Section 10.05.      Evidence
of Compliance of Supplemental Indenture to Be Furnished Trustee

 

In addition to the documents required by
Section 16.05, the Trustee shall receive an Officers’ Certificate and an Opinion of Counsel as conclusive evidence
that any supplemental indenture executed pursuant hereto complies with the requirements of this Article 10 and is permitted
or authorized by the Indenture.

 

Article 11.

[RESERVED]

 

ARTICLE 12.

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

 

Section 12.01.      Indenture
and Notes Solely Corporate Obligations

 

No recourse for the payment of the principal
of or accrued and unpaid interest on any Note, nor for any claim based thereon or otherwise in respect thereof, and no recourse
under or upon any obligation, covenant or agreement of the Company in the Indenture or in any supplemental indenture or in any
Note, nor because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder,
employee, agent, Officer or director or Subsidiary, as such, past, present or future, of the Company or of any successor corporation,
either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of
law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is
hereby expressly waived and released as a condition of, and as a consideration for, the execution of the Indenture and the issue
of the Notes.

 

ARTICLE 13.

CONVERSION OF NOTES

 

Section 13.01.      Conversion
Privilege

 

Subject to and upon compliance with the
provisions of this Article 13 (including, without limitation, Section 13.02(k)), each Holder of a Note
shall have the right, at such Holder’s option, to convert all or any portion (if the portion to be converted is $1,000 principal
amount or an integral multiple thereof) of such Note at any time prior to the close of business on the Business Day immediately
preceding the Maturity Date at an initial conversion rate of 66.6667 shares of Common Stock (subject to adjustment as provided
in this Article 13, the “Conversion Rate”) per $1,000 principal amount of Notes (subject to, and
in accordance with, the settlement provisions of Section 13.02, the “Conversion Obligation”).

 

Section 13.02.      Conversion
Procedure; Settlement Upon Conversion

 

(a)           Upon conversion of any Note,
the Company shall pay or deliver, as the case may be, to the converting Holder, in respect of each $1,000 principal amount of Notes
being converted, at the election of the Company: (i) a number of shares of Common Stock equal to the Conversion Rate in effect
immediately prior to the close of business on the relevant Conversion Date, together with a cash payment, if applicable, in lieu
of delivering any fractional share of Common Stock in accordance with subsection (j) of this Section 13.02,
(ii) the Cash Equivalent of the shares of Common Stock and cash deliverable and payable pursuant to subsection (a)(i) of
this Section 13.02, or (iii) a combination of the consideration described in subsections (a)(i) and
(ii) of this Section 13.02, in each case no later than the second Business Day immediately following the
relevant Conversion Date (the “Conversion Consideration”). The “Cash Equivalent” per share
of Common Stock shall be an amount equal to: (i) if the Common Stock is not then listed on a U.S. national securities exchange,
the Company’s most recent publicly available NAV per share that has been determined in accordance with the Investment Company
Act, or (ii) if the Common Stock is then listed on a U.S. national securities exchange, the Closing Sale Price of the Common
Stock on the trading day prior to the date the Notice of Conversion is delivered.

 

    38 

     

    

 

(b)           Subject to Section 13.02(e),
before any Holder of a Note shall be entitled to convert a Note as set forth above, such Holder shall (i) in the case of a
Global Note, effect a book-entry transfer of such Note to the Conversion Agent through the facilities of the Depositary and comply
with the Depositary’s then-applicable conversion procedures and, if required, pay funds equal to interest payable on the
next Interest Payment Date to which such Holder is not entitled as set forth in Section 13.02(h) and (ii) in
the case of a Physical Note (1) complete, manually sign and deliver an irrevocable notice to the Conversion Agent as set forth
in the Form of Notice of Conversion (or a facsimile, .pdf attachment or other electronically transmitted signature thereof
(including, without limitation, DocuSign or Adobe Sign)) (a “Notice of Conversion”) at the office
of the Conversion Agent and state in writing therein the principal amount of Notes to be converted and the name or names (with
addresses) in which such Holder wishes the certificate or certificates for any shares of Common Stock to be delivered upon settlement
of the Conversion Obligation to be registered, (2) surrender such Notes, duly endorsed to the Company or in blank (and accompanied
by appropriate endorsement and transfer documents), at the office of the Conversion Agent, (3) if required, furnish appropriate
endorsements and transfer documents, and (4) if required, pay funds equal to interest payable on the next Interest Payment
Date to which such Holder is not entitled as set forth in Section 13.02(h). The Trustee (and if different, the Conversion
Agent) shall notify the Company of any conversion pursuant to this Article 13 on the Conversion Date for such conversion.
No Notice of Conversion with respect to any Notes may be surrendered by a Holder thereof if such Holder has also delivered a Fundamental
Change Purchase Notice to the Company in respect of such Notes and has not validly withdrawn such Fundamental Change Purchase Notice
in accordance with Section 14.02.

 

If more than one Note shall be surrendered
for conversion at one time by the same Holder, the Conversion Obligation with respect to such Notes shall be computed on the basis
of the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted thereby) so surrendered.

 

(c)           A Note shall be deemed to
have been converted immediately prior to the close of business on the date (the “Conversion Date”) that the
Holder has complied with the requirements set forth in subsection (b) above. The Company shall issue or cause to be
issued, and deliver to the Conversion Agent or to such Holder, or such Holder’s nominee or nominees, certificates or a book-entry
transfer through the Depositary for the full number of shares of Common Stock to which such Holder shall be entitled in satisfaction
of the Conversion Obligation.

 

(d)           In case any Note shall be
surrendered for partial conversion, the Company shall execute and, upon receipt of a Company Order, the Trustee shall authenticate
and deliver to or upon the written order of the Holder of the Note so surrendered a new Note or Notes in authorized denominations
in an aggregate principal amount equal to the unconverted portion of the surrendered Note, without payment of any service charge
by the converting Holder but, if required by the Company or Trustee, with payment of a sum sufficient to cover any documentary,
stamp or similar issue or transfer tax or similar governmental charge required by law or that may be imposed in connection therewith
as a result of the name of the Holder of the new Notes issued upon such conversion being different from the name of the Holder
of the old Notes surrendered for such conversion.

 

(e)           If a Holder submits a Note
for conversion, the Company shall pay any documentary, stamp or similar issue or transfer tax due on the issue of the shares of
Common Stock upon conversion and any expense (including reasonable attorneys’ fees) due in connection therewith, unless the
tax is due because the Holder requests such shares to be issued in a name other than the Holder’s name, in which case the
Holder shall pay that tax. The Conversion Agent may refuse to deliver the certificates representing the shares of Common Stock
being issued in a name other than the Holder’s name until the Trustee receives a sum sufficient to pay any tax that is due
by such Holder in accordance with the immediately preceding sentence.

 

(f)            Except as provided in Section 13.04,
no adjustment shall be made for dividends on any shares of Common Stock issued upon the conversion of any Note as provided in this
Article 13.

 

(g)           Upon the conversion of an
interest in a Global Note, the Trustee, or the Custodian at the direction of the Trustee, shall make a notation on such Global
Note as to the reduction in the principal amount represented thereby. The Company shall notify the Trustee in writing of any conversion
of Notes effected through any Conversion Agent other than the Trustee.

 

    39 

     

    

 

 

(h) Upon
conversion, a Holder shall not receive any additional cash payment for accrued and unpaid interest, if any, unless such Holder
is the Holder on a Regular Record Date and such conversion occurs between such Regular Record Date and the Interest Payment Date
to which it relates as set forth below. Except as set forth below, the Company’s settlement of the full Conversion Obligation
shall be deemed to satisfy in full its obligation to pay the principal amount of the Note and accrued and unpaid interest, if any,
to, but not including, the relevant Conversion Date. As a result, accrued and unpaid interest, if any, to, but not including, the
relevant Conversion Date shall be deemed to be paid in full rather than cancelled, extinguished or forfeited. Notwithstanding the
foregoing, if Notes are converted after the close of business on a Regular Record Date, Holders of such Notes as of the close of
business on such Regular Record Date shall receive the full amount of interest payable on such Notes on the corresponding Interest
Payment Date notwithstanding the conversion. Notes surrendered for conversion by a Holder after the close of business on any Regular
Record Date but prior to the open of business on the immediately following Interest Payment Date must be accompanied by funds equal
to the amount of interest payable on the Notes so converted; provided, however, that, subject to any rules or
procedures of the Depositary to the contrary, no such payment shall be required: (1) if the Company has specified a Fundamental
Change Purchase Date that is after a Regular Record Date and on or prior to the corresponding Interest Payment Date; (2) with
respect to any Notes surrendered for conversion following the Regular Record Date immediately preceding the Maturity Date; or (3) only
to the extent of any overdue interest, if any overdue interest exists at the time of conversion with respect to such Note. As a
result of the foregoing, the Company shall pay interest on the Maturity Date on all Notes converted after the Regular Record Date
immediately preceding the Maturity Date, and converting Holders shall not be required to pay the Company an equivalent interest
amount.

 

(i) The Person in whose name the
certificate for any shares of Common Stock delivered upon conversion is registered shall be treated as a stockholder of record
as of the close of business on the relevant Conversion Date. Upon a conversion of Notes, such Person shall no longer be a Holder
of such Notes surrendered for conversion, except for purposes of enforcing its right to receive (x) the consideration due
upon conversion, and (y) in the case of a conversion following a Regular Record Date and prior to the related Interest Payment
Date, interest payable on such Notes.

 

(j) The Company shall not issue
any fractional share of Common Stock upon conversion of the Notes and shall instead pay cash in lieu of delivering any fractional
share of Common Stock issuable upon conversion based on the Closing Sale Price of the Common Stock on the relevant Conversion Date.

 

(k) Notwithstanding anything to
the contrary herein, no Holder shall be entitled to receive shares of Common Stock upon conversion to the extent (but only to the
extent) that such receipt would cause such converting Holder to become, directly or indirectly, a “beneficial owner”
(within the meaning of Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder) of
more than 5.0% of the shares of Common Stock outstanding at such time (the “Ownership Limitation”). Any purported
delivery of shares of Common Stock upon conversion of Notes (including pursuant to any Forced Conversion) shall be void and have
no effect to the extent (but only to the extent) that such delivery would result in the converting Holder becoming the beneficial
owner of more than the Ownership Limitation. If any delivery of shares of Common Stock owed to a Holder upon conversion of Notes
is not made, in whole or in part, as a result of the Ownership Limitation, the Company’s obligation to make such delivery
shall not be extinguished and the Company shall deliver such shares as promptly as practicable after any such converting Holder
gives notice to the Company that such delivery would not result in it being the beneficial owner of more than 5.0% of the shares
of Common Stock outstanding at such time. The Ownership Limitation shall no longer apply following the effective date of any Fundamental
Change.

 

Section 13.03.     Increased
Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Adjustment Events

 

(a) If a Holder elects to convert
its Notes at any time from, and including, the Effective Date of a Make-Whole Adjustment Event to, and including, (i) the
Business Day immediately preceding the related Fundamental Change Purchase Date, or (ii) if such Make-Whole Adjustment Event
does not also constitute a Fundamental Change, the 40th Scheduled Trading Day immediately following the Effective Date of such
Make-Whole Adjustment Event, the Conversion Rate shall be increased by an additional number of shares of Common Stock (such shares,
the “Additional Shares”), as set forth below.

 

    40

     

    

 

(b) Upon surrender of Notes for
conversion pursuant to Section 13.01 during the period set forth in clause (a) immediately above in connection
with a Make-Whole Adjustment Event, the Company shall deliver shares of Common Stock, including the Additional Shares, in accordance
with Section 13.02. The Company shall notify the Holders, the Trustee and the Conversion Agent of the anticipated Effective
Date of any Make-Whole Adjustment Event and issue a press release as soon as practicable after the Company first determines the
anticipated Effective Date of such Make-Whole Adjustment Event (and make the press release available on the Company’s website).
The Company shall use its commercially reasonable efforts to give notice to Holders of the anticipated Effective Date for a Make-Whole
Adjustment Event not less than 20 Scheduled Trading Days prior to the anticipated Effective Date. In addition, the Company shall
notify the Holders of Notes, the Trustee and the Conversion Agent of the actual Effective Date of any Make-Whole Adjustment Event
and issue a press release announcing such Effective Date (and make the press release available on the Company’s website)
within five Business Days following such Effective Date.

 

(c) The number of Additional Shares,
if any, by which the Conversion Rate shall be increased for conversions of Notes in connection with a Make-Whole Adjustment Event
shall be determined by reference to the table below, based on the date on which the Make-Whole Adjustment Event occurs or becomes
effective (the “Effective Date”) and (1) the price paid per share of the Common Stock in the Change of
Control in the case of a Make-Whole Adjustment Event of the type set forth in clause (b) of the definition of “Change
of Control”, in the event that the Common Stock is acquired for cash, or (2) either (i) if the Common Stock is
not listed on a national securities exchange, the Company’s most recent publicly available NAV per share that has been determined
in accordance with the Investment Company Act, or (ii) if the Common Stock is listed on a national securities exchange, the
average of the Closing Sale Prices of the Common Stock over the five Trading Day period ending on the Scheduled Trading Day immediately
preceding the Effective Date of such Make-Whole Adjustment Event, in the case of any other Make-Whole Adjustment Event (the amount
determined under clause (1) or clause (2) immediately above, as applicable, the “Stock Price”).

 

(d) The Stock Prices set forth
in the column headings of the table below in the table below shall be adjusted as of any date on which the Conversion Rate of the
Notes is adjusted as set forth in Section 13.04. The adjusted Stock Prices shall equal the Stock Prices applicable
immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate immediately
prior to such adjustment giving rise to the Stock Price adjustment and the denominator of which is the Conversion Rate as so adjusted.
The number of Additional Shares set forth in the table below shall be adjusted in the same manner and at the same time as the Conversion
Rate as set forth in Section 13.04.

 

(e) The following table sets forth
the number of Additional Shares of Common Stock by which the Conversion Rate shall be increased per $1,000 principal amount of
Notes pursuant to this Section 13.03 for each Stock Price and Effective Date set forth below:

 

	 	 	Stock Price	 
	Effective
 Date	 	$13.00	 	 	$13.50	 	 	$14.00	 	 	$14.50	 	 	$15.00	 	 	$16.00	 	 	$17.00	 	 	$18.00	 	 	$19.00	 	 	$20.00	 
	December 11, 2020	 	 	10.1973	 	 	 	8.3904	 	 	 	6.9929	 	 	 	5.7538	 	 	 	4.6580	 	 	 	2.8456	 	 	 	1.4876	 	 	 	0.5672	 	 	 	0.0895	 	 	 	0	 
	December 11, 2021	 	 	10.1973	 	 	 	8.3904	 	 	 	6.9929	 	 	 	5.7538	 	 	 	4.6580	 	 	 	2.8456	 	 	 	1.4876	 	 	 	0.5672	 	 	 	0.0158	 	 	 	0	 
	December 11, 2022	 	 	10.1973	 	 	 	8.3904	 	 	 	6.9929	 	 	 	5.7538	 	 	 	4.6580	 	 	 	2.8456	 	 	 	1.4876	 	 	 	0.5672	 	 	 	0.0000	 	 	 	0	 
	December 11, 2023	 	 	10.1973	 	 	 	8.3904	 	 	 	6.9929	 	 	 	5.7538	 	 	 	4.6580	 	 	 	2.8456	 	 	 	1.4876	 	 	 	0.4933	 	 	 	0.0000	 	 	 	0	 
	December 11, 2024	 	 	10.1973	 	 	 	8.3904	 	 	 	6.9929	 	 	 	5.7538	 	 	 	4.5087	 	 	 	2.5106	 	 	 	1.1412	 	 	 	0.2772	 	 	 	0.0000	 	 	 	0	 
	December 11, 2025	 	 	10.1973	 	 	 	6.8511	 	 	 	3.9557	 	 	 	1.2352	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0	 

 

    41

     

    

 

The exact Stock Prices and Effective Dates
may not be set forth in the table above, in which case if the Stock Price is:

 

(i) between two Stock Prices
in the table above or the Effective Date is between two Effective Dates in the table, the number of Additional Shares shall be
determined by a straight-line interpolation between the number of Additional Shares set forth for the higher and lower Stock Prices
and the earlier and later Effective Dates based on a 365-day year, as applicable;

 

(ii) in excess of $20.00 per
share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table above pursuant
to subsection (d) immediately above), no Additional Shares shall be added to the Conversion Rate; and

 

(iii) less than $13.01 per share
(subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table above pursuant to subsection
(d) immediately above), no Additional Shares shall be added to the Conversion Rate.

 

Notwithstanding the foregoing, the Company may not increase
the Conversion Rate to more than 76.8640 shares of Common Stock per $1,000 principal amount of Notes (the “Maximum Conversion
Rate”) pursuant to the events set forth in this Section 13.03; provided, however, the Maximum Conversion
Rate shall be subject to adjustment, for the same events, and at the same time and in the same manner, that the Company must adjust
the Conversion Rate pursuant to Section 13.04.

 

(f) Nothing in this Section 13.03
shall prevent an adjustment to the Conversion Rate pursuant to Section 13.04 in respect of a Make-Whole Adjustment
Event.

 

Section 13.04.     Adjustment
of Conversion Rate

 

The Conversion Rate shall be adjusted from
time to time by the Company if any of the following events or transactions occurs.

 

(a)  If the Company issues
solely shares of Common Stock as a dividend or distribution on all or substantially all of the shares of the Common Stock, or if
the Company subdivides or combines its Common Stock, the Conversion Rate shall be adjusted based on the following formula:

 

	 	 	OS
	CR =	CR0 x	——
	 	 	OS0

 

where,

 

	CR0	=	the Conversion Rate in effect immediately prior to the close of business on the Record Date for such dividend or distribution, or immediately prior to the open of business on the Effective Date of such subdivision or combination of Common Stock, as the case may be;
	CR	=	the Conversion Rate in effect immediately after the close of business on the Record Date for such dividend or distribution, or immediately after the open of business on the Effective Date of such subdivision or combination of Common Stock, as the case may be;
	OS0	=	the number of shares of Common Stock outstanding immediately prior to the close of business on the Record Date for such dividend or distribution, or immediately prior to the open of business on the Effective Date of such subdivision or combination of Common Stock, as the case may be; and
	OS	=	the number of shares of Common Stock that would be outstanding immediately after giving effect to such dividend or distribution, or immediately after the Effective Date of such share split or share combination, as applicable.

 

    42

     

    

 

Any adjustment made under this Section 13.04(a) shall
become effective immediately after the close of business on the Record Date for such dividend or distribution, or immediately after
the open of business on the Effective Date of such subdivision or combination of Common Stock, as the case may be. If such dividend
or distribution of the type described in this Section 13.04(a) is declared but not so paid or made, the Conversion
Rate shall be immediately readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution,
to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared.

 

(b) If the Company declares a
distribution to all or substantially all holders of the Common Stock of any rights, options or warrants entitling them to subscribe
for or purchase shares of the Common Stock at a price per share: (i) if the Common Stock is not then listed on a national
securities exchange, less than or equal to the Company’s most recent publicly available NAV per share that has been determined
in accordance with the Investment Company Act, or (ii) if the Common Stock is then listed on a national securities exchange,
less than the average of the Closing Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on, and including,
the Trading Day immediately preceding the announcement date for such distribution, the Conversion Rate shall be increased based
on the following formula:

 

	 	 	OS0 + X
	CR =	CR0 x	————
	 	 	OS0 + Y

 

where,

 

	CR0	=	the Conversion Rate in effect immediately prior to the close of business on the Record Date for such distribution;
	CR	=	the Conversion Rate in effect immediately after the close of business on the Record Date for such distribution;
	OS0	=	the number of shares of Common Stock outstanding immediately prior to the close of business on the Record Date for such distribution;
	X	=	the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and
	Y	=	the number of shares of Common Stock equal to the aggregate price payable to exercise such rights, options or warrants, divided by (i) if the Common Stock is not then listed on a national securities exchange, the Company’s most recent publicly available NAV per share that has been determined in accordance with the Investment Company Act, or (ii) if the Common Stock is then listed on a national securities exchange, the average of the Closing Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the announcement date for such distribution.

 

Any increase made under this Section 13.04(b) shall
be made successively whenever any such rights, options or warrants are issued and shall become effective immediately after the
close of business on the Record Date for such issuance. To the extent that shares of the Common Stock are not delivered after the
expiration of such rights, options or warrants, the Conversion Rate shall be decreased, as of the date of such expiration, to the
Conversion Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants
been made on the basis of delivery of only the number of shares of Common Stock actually delivered. If such rights, options or
warrants are not so distributed, the Conversion Rate shall be decreased, as of the scheduled distribution date, to the Conversion
Rate that would then be in effect if the Record Date for such distribution had not occurred.

 

For purposes of this Section 13.04(b),
in determining whether any rights, options or warrants entitle the holders to subscribe for or purchase shares of the Common Stock
at a price that (i) if the Common Stock is not listed on a national securities exchange, is less than or equal to the Company’s
most recent publicly available NAV per share that has been determined in accordance with the Investment Company Act, or (ii) if
the Common Stock is listed on a national securities exchange is less than the average of the Closing Sale Prices of the Common
Stock for each Trading Day in the applicable 10 consecutive Trading Day period, there shall be taken into account any consideration
received by the Company for such rights, options or warrants and any amount payable on exercise thereof, with the value of such
consideration, if other than cash, to be determined in good faith by the Board of Directors.

 

    43

     

    

 

For purposes of this Section 13.04(b) (and
subject in all respect to Section 13.12), rights, options or warrants distributed by the Company to all holders of
the Common Stock entitling them to subscribe for or purchase shares of the Company’s Capital Stock, including Common Stock
(either initially or under certain circumstances), which rights, options or warrants, until the occurrence of a specified event
or events (“Trigger Event”): (i) are deemed to be transferred with such shares of the Common Stock; (ii) are
not exercisable; and (iii) are also issued in respect of future issuances of the Common Stock, shall be deemed not to have
been distributed for purposes of this Section 13.04(b) (and no adjustment to the Conversion Rate under this Section 13.04(b) shall
be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall be deemed to
have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate shall be made under this Section 13.04(b).
If any such right, option or warrant, including any such existing rights, options or warrants distributed prior to the date of
the Indenture, are subject to events, upon the occurrence of which such rights, options or warrants become exercisable to purchase
different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall
be deemed to be the date of distribution and Record Date with respect to new rights, options or warrants with such rights (in which
case the existing rights, options or warrants shall be deemed to terminate and expire on such date without exercise by any of the
holders thereof). In addition, in the event of any distribution (or deemed distribution) of rights, options or warrants, or any
Trigger Event or other event (of the type described in the immediately preceding sentence) with respect thereto that was counted
for purposes of calculating a distribution amount for which an adjustment to the Conversion Rate under this Section 13.04(b) was
made, (1) in the case of any such rights, options or warrants that shall all have been redeemed or purchased without exercise
by any holders thereof, upon such final redemption or purchase (x) the Conversion Rate shall be readjusted as if such rights,
options or warrants had not been issued and (y) the Conversion Rate shall then again be readjusted to give effect to such
distribution, deemed distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per
share redemption or purchase price received by a holder or holders of Common Stock with respect to such rights, options or warrants
(assuming such holder had retained such rights, options or warrants), made to all holders of Common Stock as of the date of such
redemption or purchase, and (2) in the case of such rights, options or warrants that shall have expired or been terminated
without exercise by any holders thereof, the Conversion Rate shall be readjusted as if such rights, options and warrants had not
been issued.

 

(c) If the Company declares a
distribution of shares of its Capital Stock, evidences of its indebtedness, other assets or property of the Company or other securities,
to all or substantially all holders of the Common Stock, excluding (i) dividends or distributions as to which an adjustment
was effected pursuant to Section 13.04(a) or Section 13.04(b), (ii) dividends or distributions
paid exclusively in cash as to which an adjustment was effected pursuant to Section 13.04(d), and (iii) Spin-Offs
as to which the provisions set forth below in this Section 13.04(c) shall apply (any of such shares of Capital
Stock, evidences of its indebtedness, other assets or property of the Company or other securities, a “Relevant Distribution”),
then the Conversion Rate shall be increased based on the following formula:

 

	 	 	SP0
	CR =	CR0 x	—————
	 	 	SP0 - FMV

 

where,

 

	CR0	=	the Conversion Rate in effect immediately prior to the close of business on the Record Date for such distribution;
	CR	=	the Conversion Rate in effect immediately after the close of business on the Record Date for such distribution;
	SP0	=	either (i) if the Common Stock is not listed on a national securities exchange, the Company’s most recent publicly available NAV per share that has been determined in accordance with the Investment Company Act, or (ii) if the Common Stock is listed on a national securities exchange, the average the average of the Closing Sale Prices of the Common Stock over the ten (10) consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and

 

    44

     

    

 

	FMV	=	the fair market value either (i) if there are quoted prices (unadjusted) in active markets for identical shares of Capital Stock, evidences of its indebtedness, other assets or property of the Company or other securities distributed, the average of the closing sale prices of the relevant property distributed over the ten (10) consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution, or (ii), if no such quoted price in an active market exists, as determined in good faith by the Board of Directors of the Relevant Distribution distributed with respect to each outstanding share of the Common Stock either (x) if the Common Stock is not listed on a national securities exchange, the close of business on the business date immediately preceding the applicable record date for such dividend, or (y) if the Common Stock is listed on a national securities exchange, as of the close of business on the Ex-Dividend Date for such distribution.

 

Any increase made under the provision of this Section 13.04(c) above
shall become effective immediately after the close of business on the Record Date for
such distribution. No adjustment pursuant to the above formula shall result in a decrease of the Conversion Rate. However, if such
distribution is not so paid or made, the Conversion Rate shall be decreased, as of the date the Board of Directors determines not
to pay or make such distribution, to be the Conversion Rate that would then be in effect if such distribution had not been declared.
Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or greater than “SP0”
(as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, in respect of each $1,000 principal
amount thereof, at the same time and upon the same terms as holders of the Common Stock, without having to convert its Note, the
amount and kind of such Relevant Distribution that such Holder would have received if such Holder owned a number of shares of Common
Stock equal to the Conversion Rate on the Record Date for the distribution. If the Board of Directors determines the “FMV”
(as defined above) of any distribution for purposes of this Section 13.04(c) by reference to the actual or when-issued
trading market for any securities, it shall in doing so consider the prices in such market over the same period used in computing
the Closing Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day
immediately preceding the Ex-Dividend Date for such distribution.

 

With respect to an adjustment pursuant to
this Section 13.04(c) where the Company has declared a dividend or other distribution to all or substantially
all holders of the Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to
a Subsidiary or other business unit of the Company, that are, or, when issued, shall be, listed or admitted for trading on a U.S.
national securities exchange (a “Spin-Off”), the Conversion Rate shall be increased based on the following formula:

 

	 	 	FMV + MP0
	CR =	CR0 x	——————
	 	 	MP0

 

where,

 

	CR0	=	the Conversion Rate in effect immediately prior to the close of business on the Record Date for the Spin-Off;
	CR	=	the Conversion Rate in effect immediately after the close of business on the Record Date for the Spin-Off;
	FMV	=	Either (i) if the Common Stock is not listed on a national securities exchange, the Company’s most recent publicly available NAV per share that has been determined in accordance with the Investment Company Act, or (ii) if the Common Stock is listed on a national securities exchange, the average of the Closing Sale Prices of the capital stock or similar equity interest distributed to holders of the Common Stock applicable to one share of the Common Stock (determined by reference to the definition of  as if references to Closing Sale Price herein to the Common Stock were to such capital stock or similar equity interest) over the first ten (10) consecutive trading-day period commencing on, and including, the ex-dividend date for the spin-off  (such period, the “valuation period”) the average of the Closing Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of the Common Stock (determined by reference to the definition of Closing Sale Price as set forth in Section 1.01 as if references therein to Common Stock were to such Capital Stock or similar equity interest) over the first 10 consecutive Trading Day period after, and including, the Ex-Dividend Date of the Spin-Off (the “Valuation Period”); and

 

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	MP0	=	either (i) if the Common Stock is not listed on a national securities exchange, the Company’s most recent publicly available NAV per share that has been determined in accordance with the Investment Company Act, or (ii) if the Common Stock is listed on a national securities exchange, the average of the Closing Sale Prices of the Common Stock over the Valuation Period.

 

The adjustment to the Conversion Rate under the preceding paragraph
shall be determined on either (i) if the Common Stock is not listed on a national securities exchange, the Company’s
most recent publicly available NAV per share that has been determined in accordance with the Investment Company Act, or (ii) if
the Common Stock is listed on a national securities exchange, the last Trading Day of the Valuation Period but shall be given effect
immediately after the close of business on the Record Date for the Spin-Off. In respect of any conversion of Notes during the Valuation
Period for any Spin-Off, if the Common Stock is listed on a national securities exchange, references in the portion of this Section 13.04(c) related
to Spin-Offs with respect to 10 Trading Days shall be deemed to be replaced with such lesser number of Trading Days as have elapsed
from, and including, the Ex-Dividend Date of such Spin-Off to, but excluding, the Conversion Date in determining the Conversion
Rate.

 

For purposes of Section 13.04(a),
Section 13.04(b) and Section 13.04(c), if any dividend or distribution to which this Section 13.04(c) is
applicable also includes one or both of:

 

(A) a dividend or distribution of shares
of Common Stock to which Section 13.04(a) is applicable (the “Clause A Distribution”); or

 

(B) a dividend or distribution of rights,
options or warrants to which Section 13.04(b) is applicable (the “Clause B Distribution”),

 

then, in either case, (1) such dividend or distribution,
other than the Clause A Distribution and the Clause B Distribution, shall be deemed to be a dividend or distribution to which this
Section 13.04(c) is applicable (the “Clause C Distribution”) and any Conversion Rate adjustment
required by this Section 13.04(c) with respect to such Clause C Distribution shall then be made, and (2) the
Clause A Distribution and Clause B Distribution shall be deemed to immediately follow the Clause C Distribution and any Conversion
Rate adjustment required by Section 13.04(a) and Section 13.04(b) with respect thereto shall
then be made, except that, if determined by the Company (I) the “Record Date” of the Clause A Distribution and
the Clause B Distribution shall be deemed to be the Record Date of the Clause C Distribution and (II) any shares of Common
Stock included in the Clause A Distribution or Clause B Distribution shall be deemed not to be “outstanding immediately prior
to the close of business on the Record Date” within the meaning of Section 13.04(a) or “outstanding
immediately prior to the close of business on such Record Date” within the meaning of Section 13.04(b).

 

In addition, notwithstanding the foregoing,
if the Company declares a dividend or distribution consisting of a combination of cash and a Clause A Distribution, then the Conversion
Rate shall be increased: (i) as to the cash portion, according to this Section 13.04(d); and (ii) as to the
Clause A Distribution portion, according to the greater of the values calculated (x) pursuant to this Section 13.04(d) as
if the Clause A Distribution portion were to be paid in cash, or (y) pursuant to Section 13.04(a).

 

If the Company declares a dividend or distribution
where shareholders of the Common Stock have the option of receiving such dividend or distribution, in whole or in part, in the
form of either cash or a Clause A Distribution, then the Conversion Rate shall be increased: (i) as to the portion of the
aggregate dividend or distribution taken as cash by the shareholders of the Common Stock, according to this Section 13.04(d);
and (ii) as to the portion of the aggregate dividend or distribution taken as a Clause A Distribution by the shareholders
of the Common Stock, according to the greater of the values calculated (x) pursuant to this Section 13.04(d) as
if such aggregate Clause A Distribution portion were to be paid in cash, or (y) pursuant to Section 13.04(a).

 

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(d) If the Company declares any
cash dividend or distribution to all, or substantially all, holders of the Common Stock, other than a regular quarterly cash dividend
that does not exceed $0.30 per share (the “Initial Dividend Threshold”), the Conversion Rate shall be increased
based on the following formula:

 

	 	 	SP0 - T
	CR =	CR0 x	————
	 	 	SP0 - C

 

where,

 

	CR0	=	the Conversion Rate in effect immediately prior to the close of business on the Record Date for such dividend or distribution;
	CR	=	the Conversion Rate in effect immediately after the close of business on the Record Date for such dividend or distribution;
	SP0	=	either (i) if the Common Stock is not listed on a national securities exchange, the Company’s most recent publicly available NAV per share that has been determined in accordance with the Investment Company Act, or (ii) if the Common Stock is listed on a national securities exchange, the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution;
	T	=	the Initial Dividend Threshold; provided that if the dividend or distribution is not a regular quarterly cash dividend, the Initial Dividend Threshold shall be deemed to be zero; and
	C	=	the amount in cash per share the Company distributes to all or substantially all holders of the Common Stock.

 

The Initial Dividend Threshold is subject to adjustment in a
manner inversely proportional to adjustments to the Conversion Rate; provided that no adjustment shall be made to the Initial Dividend
Threshold for any adjustment to the Conversion Rate under this Section 13.04(d). Notwithstanding the foregoing, if
at any time regular dividends are distributed other than on a quarterly basis, the dividend threshold amount shall be appropriately
adjusted and shall apply to all such regular dividends.

 

Any increase pursuant to this Section 13.04(d) shall
become effective immediately after the close of business on the Record Date for such dividend or distribution. No adjustment pursuant
to the above formula shall result in a decrease of the Conversion Rate. However, if any dividend or distribution of the type set
forth in this Section 13.04(d) is declared but not so paid or made, the Conversion Rate shall be readjusted, effective
as of the date the Board of Directors determines not to make or pay such dividend or distribution, to be the Conversion Rate that
would then be in effect if such dividend or distribution had not been declared. Notwithstanding the foregoing, if “C”
(as defined above) is equal to or greater than “SP0” (as defined above),
in lieu of the foregoing increase, each Holder of a Note shall receive, for each $1,000 principal amount of Notes, at the same
time and upon the same terms as holders of shares of the Common Stock, without having to convert its Note, the amount of cash that
such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the Record
Date for such cash dividend or distribution.

 

(e) If the Company or any of its
Subsidiaries makes a payment in respect of a tender or exchange offer for the Common Stock, and if the cash and value of any other
consideration included in the payment per share of the Common Stock exceeds either (i) if the Common Stock is not listed on
a national securities exchange, the Company’s most recent publicly available NAV per share that has been determined in accordance
with the Investment Company Act, or (ii) if the Common Stock is listed on a national securities exchange, the average of the
Closing Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day
next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer (the “Expiration
Date”), the Conversion Rate shall be increased based on the following formula:

 

	 	 	          AC + (OS x SP)
	CR =	         CR0 x	          ———————
	 	 	          OS0 x SP

 

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where,

 

	CR0	=	the Conversion Rate in effect immediately prior to the open of business on the Trading Day next succeeding the Expiration Date;
	CR	=	the Conversion Rate in effect immediately after the open of business on the Trading Day next succeeding the Expiration Date;
	AC	=	the aggregate value of all cash and any other consideration (as determined in good faith by the Board of Directors) paid or payable for shares of Common Stock purchased in such tender or exchange offer;
	OS0	=	the number of shares of Common Stock outstanding immediately prior to the time (the “Expiration Time”) such tender or exchange offer expires (prior to giving effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer);
	OS	=	the number of shares of Common Stock outstanding immediately after the Expiration Time (after giving effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer); and
	SP	=	either (i) if the Common Stock is not listed on a national securities exchange, the Company’s most recent publicly available NAV per share that has been determined in accordance with the Investment Company Act, or (ii) if the Common Stock is listed on a national securities exchange, the average of the Closing Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the date such tender or exchange offer expires.

 

The adjustment to the Conversion Rate under this Section 13.04(e) shall
be determined either (1) if the Common Stock is not listed on a national securities exchange, the Company’s most recent
publicly available NAV per share that has been determined in accordance with the Investment Company Act, or (2) if the Common
Stock is listed on a national securities exchange, at the close of business on the tenth (10th) Trading Day immediately
following, but excluding, the Expiration Date but shall be given effect at the open of business on the Trading Day next succeeding
the Expiration Date. In respect of any conversion of Notes during the 10 Trading Days commencing on the Trading Day next succeeding
the Expiration Date, references in this Section 13.04(e) with respect to 10 Trading Days shall be deemed replaced
with such lesser number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the Expiration Date
to, but excluding, the Conversion Date in determining the Conversion Rate. No adjustment pursuant to the above formula shall result
in a decrease to the Conversion Rate.

 

(f) Except as stated herein, the
Company shall not adjust the Conversion Rate for the issuance of shares of the Common Stock or any securities convertible into
or exchangeable for shares of the Common Stock or the right to purchase shares of the Common Stock or such convertible or exchangeable
securities.

 

(g) In addition to those adjustments
required by clauses (a), (b), (c), (d) and (e) of this Section 13.04 and
Section 13.12, and to the extent permitted by applicable law and applicable listing rules of The NASDAQ Stock
Market LLC or any other securities exchange on which the Company’s securities are then listed, (i) the Company from
time to time may increase the Conversion Rate by any amount for a period of at least 20 Business Days as long as such increase
is irrevocable during such period and the Board of Directors determines that such increase would be in the Company’s best
interest and (ii) the Company may (but is not required to) increase the Conversion Rate to avoid or diminish any income tax
to holders of Common Stock or rights to purchase shares of Common Stock in connection with a dividend or distribution of shares
of Common Stock (or rights to acquire shares of Common Stock) or similar events. Whenever the Conversion Rate is increased pursuant
to the preceding sentence, the Company shall mail to the Holder of each Note at its last address appearing on the Note Register
a notice of the increase at least 15 days prior to the date the increased Conversion Rate takes effect, and such notice shall state
the increased Conversion Rate and the period during which it shall be in effect.

 

(h) All calculations and other
determinations under this Article 13 shall be made by the Company and shall be made to the nearest one-ten thousandth
(1/10,000th) of a share.

 

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(i) Whenever the Conversion Rate
is adjusted as herein provided, the Company shall promptly file with the Trustee (and the Conversion Agent if not the Trustee)
an Officers’ Certificate setting forth the Conversion Rate after such adjustment and setting forth a brief statement of the
facts requiring such adjustment, and shall issue a press release containing such information and make such press release available
on its website. Unless and until a Responsible Officer of the Trustee shall have received such Officers’ Certificate, the
Trustee shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume without inquiry that the
last Conversion Rate of which it has knowledge is still in effect. Promptly after delivery of such certificate, the Company shall
prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which each
adjustment becomes effective and shall mail such notice of such adjustment of the Conversion Rate to each Holder at its last address
appearing on the Note Register of the Indenture. Failure to deliver such notice shall not affect the legality or validity of any
such adjustment.

 

(j) For purposes of this Section 13.04,
the number of shares of Common Stock at any time outstanding shall not include shares of Common Stock held in the treasury of the
Company so long as the Company does not pay any dividend or make any distribution on shares of Common Stock held in the treasury
of the Company, but shall include shares of Common Stock issuable in respect of scrip certificates issued in lieu of fractions
of shares of Common Stock.

 

Section 13.05.     Adjustments
of Prices

 

Whenever any provision of the Indenture
requires the Company to calculate the Closing Sale Prices or the Stock Price for purposes of a Make-Whole Adjustment Event over
a span of multiple days, the Board of Directors shall make appropriate adjustments to each to account for any adjustment to the
Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date,
Record Date, Expiration Date or Effective Date of the event occurs, at any time during the period when such Closing Sale Prices
or the Stock Price are to be calculated.

 

Section 13.06.     [Reserved].

 

Section 13.07.     Shares
to Be Fully Paid

 

. The Company shall provide, free from preemptive rights, out
of its authorized but unissued shares or shares held in treasury, which are not reserved for other purposes, sufficient shares
of Common Stock to provide for conversion of the Notes from time to time as such Notes are presented for conversion (assuming that
at the time of computation of such number of shares, all such Notes would be converted by a single Holder, and including the maximum
number of Additional Shares that may be added to the Conversion Rate in connection with a Make-Whole Adjustment Event).

 

Section 13.08.     Effect
of Recapitalizations, Reclassifications and Changes of the Common Stock

 

(a) In the event of:

 

(i) any recapitalization, reclassification
or change of the Common Stock (other than changes resulting from a subdivision or combination),

 

(ii) any consolidation, merger,
combination, binding share exchange or similar transaction involving the Company,

 

(iii) any sale, assignment,
conveyance, transfer, lease or other disposition to another Person of all or substantially all of the Company’s properties
and assets; or

 

(iv) a liquidation or dissolution
of the Company,

 

in each case, in which holders of the outstanding Common Stock
are entitled to receive cash, securities or other property for their shares of Common Stock (“Reference Property”
and any such transaction, a “Share Exchange Event”), the Company or the successor or purchasing company, as
the case may be, shall execute with the Trustee a supplemental indenture, providing that, at and after the effective time of such
Share Exchange Event, Holders of each $1,000 principal amount of Notes shall be entitled to convert their Notes into the kind and
amount of Reference Property that a holder of a number of shares of Common Stock equal to the Conversion Rate immediately prior
to such Share Exchange Event would have owned or been entitled to receive upon such Share Exchange Event.

 

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If the Share Exchange Event causes the Common
Stock to be converted into, or exchanged for, the right to receive more than a single type of consideration (determined based in
part upon any form of stockholder election), then the Reference Property into which the Notes will be convertible shall be deemed
to be (x) the weighted average of the types and amounts of consideration received by the holders of Common Stock that affirmatively
make such an election, or (y) if no holders of Common Stock affirmatively make such an election, the types and amounts of
consideration actually received by the holders of Common Stock. The Company shall notify Holders, the Trustee and the Conversion
Agent (if other than the Trustee) in writing of the weighted average of the consideration received for shares of the Common Stock
as soon as practicable after such determination is made.

 

Such supplemental indenture described in
the second immediately preceding paragraph shall provide for anti-dilution and other adjustments that shall be as nearly equivalent
as is possible to the adjustments provided for in this Article 13. If, in the case of any Share Exchange Event, the
Reference Property includes shares of stock, securities or other property or assets of a Person other than the successor or purchasing
corporation, as the case may be, in such Share Exchange Event, then such supplemental indenture shall also be executed by such
other Person and shall contain such additional provisions to protect the interests of the Holders of the Notes, including the provisions
providing for the purchase rights set forth in Article 14, as the Board of Directors shall reasonably consider necessary
by reason of the foregoing. Following any Share Exchange Event, all references herein to the Common Stock shall be deemed to refer
to the relevant Reference Property, subject to the provisions of such supplemental indenture.

 

(b) When the Company executes
a supplemental indenture pursuant to subsection (a) of this Section 13.08, the Company shall promptly
file with the Trustee an Officers’ Certificate briefly stating the reasons therefor, the kind or amount of cash, securities
or property or asset that shall comprise the Reference Property after any such Share Exchange Event, any adjustment to be made
with respect thereto and that all conditions precedent have been complied with, and shall promptly mail notice thereof to all Holders,
and issue a press release containing such information (and make such press release available on its website). The Company shall
cause notice of the execution of such supplemental indenture to be mailed to each Holder, at its address appearing on the Note
Register provided for in the Indenture, within 20 days after execution thereof. Failure to deliver such notice shall not affect
the legality or validity of such supplemental indenture.

 

(c) The Company shall not become
a party to any Share Exchange Event unless its terms are consistent with this Section 13.08. None of the foregoing
provisions shall affect the right of a holder of Notes to convert its Notes into shares of Common Stock as set forth in Section 13.01
and Section 13.02 prior to the effective date of such Share Exchange Event.

 

(d) The above provisions of this
Section 13.08 shall similarly apply to successive Share Exchange Events.

 

Section 13.09.     Certain
Covenants

 

(a) The Company covenants that
all shares of Common Stock issued upon conversion of Notes shall be fully paid and non-assessable by the Company and free from
all taxes, liens and charges with respect to the issue thereof.

 

(b) The Company covenants that,
if any shares of Common Stock to be provided for the purpose of conversion of Notes hereunder require registration with or approval
of any governmental authority under any federal or state law before such shares of Common Stock may be validly issued upon conversion,
the Company shall, to the extent then permitted by the rules and interpretations of the Commission, secure such registration
or approval, as the case may be.

 

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(c) The Company further covenants
that if at any time the Common Stock shall be listed on any national securities exchange or automated quotation system the Company
shall list and keep listed, so long as the Common Stock shall be so listed on such exchange or automated quotation system, any
Common Stock issuable upon conversion of the Notes.

 

Section 13.10.     Responsibility
of Trustee.

 

The Trustee and any other Conversion Agent
shall not at any time be under any duty or responsibility to any Holder to determine the Conversion Rate (or any adjustment thereto)
or whether any facts exist that may require any adjustment (including any increase) of the Conversion Rate, or with respect to
the nature or extent or calculation of any such adjustment when made, or with respect to the method employed, or herein or in any
supplemental indenture provided to be employed, in making the same. The Trustee and any other Conversion Agent shall not be accountable
with respect to the validity or value (or the kind or amount) of any shares of Common Stock, or of any securities, property or
cash that may at any time be issued or delivered upon the conversion of any Note; and the Trustee and any other Conversion Agent
make no representations with respect thereto. Neither the Trustee nor any Conversion Agent shall be responsible for any failure
of the Company to issue, transfer or deliver any shares of Common Stock or stock certificates or other securities or property or
cash upon the surrender of any Note for the purpose of conversion or to comply with any of the duties, responsibilities or covenants
of the Company contained in this Article 13. Without limiting the generality of the foregoing, neither the Trustee
nor any Conversion Agent shall be under any responsibility to determine the correctness of any provisions contained in any supplemental
indenture entered into pursuant to Section 13.08 relating either to the kind or amount of shares of stock or securities
or property (including cash) receivable by Holders upon the conversion of their Notes after any event referred to in such Section 13.08
or to any adjustment to be made with respect thereto, but, subject to the provisions of Section 7.01, may accept (without
any independent investigation) as conclusive evidence of the correctness of any such provisions, and shall be protected in relying
upon, the Officers’ Certificate (which the Company shall be obligated to file with the Trustee prior to the execution of
any such supplemental indenture) with respect thereto.

 

Section 13.11.     Notice
to Holders Prior to Certain Actions

 

In case of any:

 

(a) action by the Company or one
of its Subsidiaries that would require an adjustment in the Conversion Rate pursuant to Section 13.04 or Section 13.12;

 

(b) Share Exchange Event; or

 

(c) voluntary or involuntary dissolution,
liquidation or winding-up of the Company or any of its Subsidiaries;

 

then, in each case (unless notice of such event is otherwise
required pursuant to another provision of the Indenture), the Company shall cause to be filed with the Trustee and the Conversion
Agent (if other than the Trustee) and to be mailed to each Holder at its address appearing on the Note Register, as promptly as
possible but in any event at least 20 days prior to the applicable date hereinafter specified, a notice stating (i) the date
on which a record is to be taken for the purpose of such action by the Company or one of its Subsidiaries or, if a record is not
to be taken, the date as of which the holders of Common Stock of record are to be determined for the purposes of such action by
the Company or one of its Subsidiaries, or (ii) the date on which such Share Exchange Event, dissolution, liquidation or winding-up
is expected to become effective or occur, and the date as of which it is expected that holders of Common Stock of record shall
be entitled to exchange their Common Stock for securities or other property deliverable upon such Share Exchange Event, dissolution,
liquidation or winding-up. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such
action by the Company or one of its Subsidiaries, Share Exchange Event, dissolution, liquidation or winding-up.

 

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Section 13.12.     Stockholder
Rights Plans

 

If the Company has a rights plan in effect
upon conversion of the Notes (i.e., a poison pill), each share of Common Stock issued upon such conversion shall be entitled
to receive the appropriate number of rights, if any, and the certificates representing the Common Stock issued upon such conversion
shall bear such legends, if any, in each case as may be provided by the terms of any such rights plan, as the same may be amended
from time to time. However, if, prior to any conversion of Notes, the rights have separated from the shares of Common Stock in
accordance with the provisions of the applicable rights plan so that the Holders would not be entitled to receive any rights in
respect of Common Stock issuable upon conversion of the Notes, the Conversion Rate shall be adjusted at the time of separation
as if the Company distributed to all or substantially all holders of the Common Stock a Relevant Distribution as provided in Section 13.04(c),
subject to readjustment in the event of the expiration, termination or redemption of such rights.

 

ARTICLE 14.

PURCHASE OF NOTES AT OPTION OF HOLDERS

 

Article Thirteen of the Base Indenture
shall not apply to the Notes. Instead, the provisions of this Article 14 shall, with respect to the Notes, supersede in its
entirety Article Thirteen of the Base Indenture and all references in the Base Indenture to Article Thirteen thereof
shall be deemed, for the purposes of the Notes, to be references to this Article 14.

 

Section 14.01.     Purchase
at Option of Holders upon a Fundamental Change

 

(a) If a Fundamental Change occurs
at any time, each Holder shall have the right, at such Holder’s option, to require the Company to purchase for cash all of
such Holder’s Notes, or any portion thereof that is equal to $1,000 or an integral multiple of $1,000, on the date (the “Fundamental
Change Purchase Date”) specified by the Company that is not less than 20 nor more than 35 Business Days following the
occurrence of the Fundamental Change at a purchase price equal to 100% of the principal amount thereof, plus accrued and
unpaid interest thereon to, but excluding, the Fundamental Change Purchase Date (the “Fundamental Change Purchase Price”),
unless the Fundamental Change Purchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which
such Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest to
Holders of record as of such Regular Record Date, in addition to, and not included in, the Fundamental Change Purchase Price, and
the Fundamental Change Purchase Price shall be equal to 100% of the principal amount of Notes to be purchased pursuant to this
Article 14 and shall not include accrued and unpaid interest to be paid as a portion of such semi-annual interest payment.

 

(b) Purchases of Notes under this
Section 14.01 shall be made, at the option of the Holder thereof, upon:

 

(i) delivery to the Paying Agent
by a Holder of a duly completed notice (the “Fundamental Change Purchase Notice”) in the form set forth in Attachment
2 to the Form of Note attached hereto as Exhibit A, if the Notes are Physical Notes, or in compliance with
the Depositary’s procedures for surrendering interests in Global Notes, if the Notes are Global Notes, in each case following
delivery by the Company of the Fundamental Change Company Notice and on or before the close of business on the Business Day immediately
preceding the Fundamental Change Purchase Date; and

 

(ii) delivery of the Notes,
if the Notes are Physical Notes, to the Paying Agent at any time after delivery of the Fundamental Change Purchase Notice (together
with all necessary endorsements for transfer) at the Corporate Trust Office of the Paying Agent, or book-entry transfer of the
Notes, if the Notes are Global Notes, in compliance with the procedures of the Depositary, in each case such delivery being a condition
to receipt by the Holder of the Fundamental Change Purchase Price therefor.

 

The Fundamental Change Purchase Notice in
respect of any Notes to be purchased shall state:

 

(i) in the case of Physical
Notes, the certificate numbers of the Notes to be delivered for purchase;

 

(ii) the portion of the
principal amount of Notes to be purchased, which must be $1,000 or an integral multiple thereof; and

 

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(iii) that the Notes are
to be purchased by the Company pursuant to the applicable provisions of the Notes and the Indenture;

 

provided, however, that if the Notes are Global
Notes, the Fundamental Change Purchase Notice must comply with appropriate Depositary procedures.

 

Notwithstanding anything herein to the contrary,
any Holder delivering to the Paying Agent the Fundamental Change Purchase Notice contemplated by this Section 14.01
shall have the right to withdraw, in whole or in part, such Fundamental Change Purchase Notice at any time prior to the close of
business on the Business Day immediately preceding the Fundamental Change Purchase Date by delivery of a written notice of withdrawal
to the Paying Agent in accordance with Section 14.02.

 

The Paying Agent shall promptly notify the
Company of the receipt by it of any Fundamental Change Purchase Notice or written notice of withdrawal thereof.

 

(c) Within five Business Days
after the occurrence of the effective date of a Fundamental Change, the Company shall provide to all Holders of Notes and the Trustee
and the Paying Agent (in the case of a Paying Agent other than the Trustee) a notice (the “Fundamental Change Company
Notice”) of the occurrence of the effective date of the Fundamental Change and of the purchase right at the option of
the Holders arising as a result thereof. In the case of Physical Notes, such notice shall be by first class mail or, in the case
of Global Notes, such notice shall be delivered in accordance with the applicable procedures of the Depositary. Simultaneously
with providing such notice, the Company shall issue a press release announcing the occurrence of such Fundamental Change (and make
the press release available on its website). Each Fundamental Change Company Notice shall specify:

 

(i) the events causing the Fundamental
Change;

 

(ii) the effective date of the
Fundamental Change, and whether the Fundamental Change is a Make-Whole Adjustment Event;

 

(iii) the last date on which
a Holder may exercise the purchase right pursuant to this Article 14;

 

(iv) the Fundamental Change
Purchase Price;

 

(v) the Fundamental Change Purchase
Date;

 

(vi) the Conversion Rate and
any adjustments to the Conversion Rate, and the procedures required for exercise of a Holders right to convert its Notes;

 

(vii) the procedures required
for exercise of the purchase option upon the Fundamental Change, and the procedures required for withdrawal of any such exercise;
and

 

(viii) the name and address
of the Paying Agent and the Conversion Agent, if applicable.

 

No failure of the Company to give the foregoing
notices and no defect therein shall limit the Holders’ purchase rights or affect the validity of the proceedings for the
purchase of the Notes pursuant to this Section 14.01.

 

At the Company’s request, the Trustee
shall give such notice in the Company’s name and at the Company’s expense; provided, however, that, in
all cases, the text of such Fundamental Change Company Notice shall be prepared by the Company.

 

(d) Notwithstanding the foregoing,
no Notes may be purchased by the Company on any date at the option of the Holders upon a Fundamental Change if the principal amount
of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to the relevant Fundamental Change
Purchase Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental
Change Purchase Price with respect to such Notes). The Paying Agent shall promptly return to the respective Holders thereof any
Physical Notes held by it during the acceleration of the Notes (except in the case of an acceleration resulting from a Default
by the Company in the payment of the Fundamental Change Purchase Price with respect to such Notes), or any instructions for book-entry
transfer of the Notes in compliance with the procedures of the Depositary shall be deemed to have been cancelled, and, upon such
return or cancellation, as the case may be, the Fundamental Change Purchase Notice with respect thereto shall be deemed to have
been withdrawn.

 

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Section 14.02.     Withdrawal
of Fundamental Change Purchase Notice

 

A Fundamental Change Purchase Notice may
be withdrawn (in whole or in part) by means of a written notice of withdrawal delivered to the Corporate Trust Office of the Paying
Agent in accordance with this Section 14.02 at any time prior to the close of business on the Business Day immediately
preceding the Fundamental Change Purchase Date specifying:

 

(i) the principal amount of
the Notes with respect to which such notice of withdrawal is being submitted;

 

(ii) if Physical Notes have
been issued, the certificate number of the Note in respect of which such notice of withdrawal is being submitted; and

 

(iii) the principal amount,
if any, of such Note that remains subject to the original Fundamental Change Purchase Notice which portion must be in principal
amounts of $1,000 or an integral multiple of $1,000;

 

provided, however, that if the Notes are Global
Notes, the notice must comply with appropriate procedures of the Depositary.

 

Section 14.03.     Deposit
of Fundamental Change Purchase Price

 

(a) The Company shall deposit
with the Trustee (or other Paying Agent appointed by the Company, or if the Company is acting as its own Paying Agent, set aside,
segregate and hold in trust on or prior to 11:00 a.m., New York City time, on the Fundamental Change Purchase Date an amount of
money sufficient to purchase all of the Notes to be purchased at the appropriate Fundamental Change Purchase Price; provided,
however, that to the extent any such funds are received by the Trustee or the Paying Agent from the Company after 11:00
a.m., New York City time, on such due date, such funds shall be deemed deposited within one (1) Business Day of receipt thereof.
Subject to receipt of funds and/or Notes by the Trustee (or other Paying Agent appointed by the Company), payment for Notes surrendered
for purchase (and not withdrawn prior to the close of business on the Business Day immediately preceding the Fundamental Change
Purchase Date) shall be made on the later of (i) the Fundamental Change Purchase Date (provided the Holder has satisfied
the conditions in Section 14.01 and (ii) the time of book-entry transfer or the delivery of such Note to the Trustee
(or other Paying Agent appointed by the Company) by the Holder thereof in the manner required by Section 14.01 by mailing
checks for the amount payable to the Holders of such Notes entitled thereto at their addresses as they shall appear in the Note
Register; provided, however, that payments to the Depositary shall be made by wire transfer of immediately available
funds to the account of the Depositary or its nominee. The Trustee shall, promptly after such payment and upon written demand by
the Company, return to the Company any funds in excess of the Fundamental Change Purchase Price.

 

(b) If by 11:00 a.m. New
York City time, on the Fundamental Change Purchase Date, the Trustee (or other Paying Agent appointed by the Company) holds money
sufficient to make payment on all the Notes or portions thereof that are to be purchased on such Fundamental Change Purchase Date,
then, with respect to the Notes that have been properly surrendered for purchase and have not been validly withdrawn, (i) such
Notes shall cease to be outstanding, (ii) interest shall cease to accrue on such Notes (whether or not book-entry transfer
of the Notes has been made or the Notes have been delivered to the Trustee or Paying Agent) and (iii) all other rights of
the Holders of such Notes shall terminate (other than the right to receive the Fundamental Change Purchase Price and, if the Fundamental
Change Purchase Date is after a Regular Record Date and on or prior to the related Interest Payment Date, the right of the Holder
of record on such Regular Record Date to receive the related interest payment, which includes any accrued but unpaid interest).

 

    54

     

    

 

(c) Upon surrender of a Note that
is to be purchased in part pursuant to Section 14.01, the Company shall execute and, upon receipt of a Company Order,
the Trustee shall authenticate and deliver to the Holder a new Note in an authorized denomination equal in principal amount to
the un-purchased portion of the Note surrendered.

 

Section 14.04.     Covenant
to Comply with Applicable Laws Upon Purchase of Notes

 

In connection with any purchase offer pursuant
to Section 14.01, the Company shall:

 

(a) comply with the provisions
of Rule 13e-4, Rule 14e-1 and any other tender offer rules under the Exchange Act, to the extent any such rules are
applicable;

 

(b) file a Schedule TO or any
successor or similar schedule, if required, under the Exchange Act; and

 

(c) otherwise comply with all
applicable federal and state securities laws;

 

(d) in each case, so as to permit
the rights and obligations under this Article 14 to be exercised in the time and in the manner specified in this Article 14.

 

ARTICLE 15.

FORCED CONVERSION

 

Article Twelve of the Base Indenture
shall not apply with respect to the Notes and no sinking fund is provided for the Notes.

 

Section 15.01.     Forced
Conversion

 

Notwithstanding anything herein to the contrary,
if, after the Original Issue Date, upon the occurrence of a Trading Threshold Event, the Company may, within five (5) Trading
Days after the date of a Trading Threshold Event, issue a Forced Conversion Notice to cause the Holders to convert all or part
of the then outstanding principal amount of its Notes plus accrued but unpaid interest, if any, through but excluding the Forced
Conversion Date, and other amounts owing to the Holders under its Notes pursuant to Section 13, it being agreed that
the “Forced Conversion Date” for purposes of a Holder’s Notes shall be deemed to occur on the fifth Trading Day
following the Forced Conversion Notice Date (such fifth Trading Day, the “Forced Conversion Date”).

 

The Company may not issue a Forced Conversion
Notice if an Event of Default has occurred and is continuing as of the date the Forced Conversion Notice is sent to Holders, and
any Forced Conversion Notice delivered by the Company shall not be effective if an Event of Default has occurred and is continuing
on the Trading Day immediately preceding the Forced Conversion Date. Any Forced Conversion shall be applied ratably to all Holders
based on their initial purchases of Notes pursuant to the Purchase Agreement, except to the extent that such Forced Conversion
would violate the Ownership Limitations set forth in Section 13.02(k) herein as to a Holder, and provided that
any voluntary conversions by a Holder shall be applied against the Holder’s pro rata allocation, thereby decreasing the aggregate
amount forcibly converted hereunder if only a portion of the Notes are forcibly converted. Upon a Forced Conversion, the Company
shall pay or deliver, as the case may be, cash, shares of the Common Stock or a combination of cash and shares of the Common Stock,
at its election and in its sole discretion, and the Forced Conversion Make-Whole Payment, if any is so owed, in cash. For purposes
of a Forced Conversion, all cash paid in lieu of shares of Common Stock shall be equal to the Forced Conversion Cash Settlement
Amount.

 

For so long as a Holder whose conversion
of Notes pursuant to a Forced Conversion was limited by the Ownership Limitation continues to hold Notes thereafter, such Holder
must, within five Business Days following the end of each fiscal quarter, commencing with the fiscal quarter in which a Forced
Conversion of Notes held by such Holder was first limited by the Ownership Limitation, certify in writing to the Company and the
Trustee its beneficial ownership of shares of the Common Stock (the “Beneficial Ownership Certificate”).

 

    55

     

    

 

Section 15.02.     Notice
of Forced Conversion; Selection of Notes.

 

(a) In case the Company exercises
its Forced Conversion right to convert all or, as the case may be, any portion of the Notes pursuant to Section 15.01,
it shall deliver a Forced Conversion Notice to the Trustee, the Conversion Agent (if other than the Trustee), the Paying Agent
(if other than the Trustee) and each Holder of Notes. The Forced Conversion Date must be a Business Day.

 

(b) The Forced Conversion Notice,
if given in the manner herein provided, shall be conclusively presumed to have been duly given, whether or not the Holder receives
such notice. In any case, failure to give such Forced Conversion Notice or any defect in the Forced Conversion Notice to the Holder
of any Note designated for conversion as a whole or in part shall not affect the validity of the proceedings for the conversion
of any other Note.

 

(c) Each Forced Conversion Notice
shall specify:

 

(i) the composition of shares of Common
Stock and cash allocable to the Conversion Consideration and the cash amount of the Forced Conversion Make Whole Payment to be
paid and delivered per Note as a result of the Forced Conversion (the “Forced Conversion Consideration”);

 

(ii) that on the Forced Conversion
Date, the Company shall pay and deliver the Forced Conversion Consideration for each Note to be converted, and that interest thereon,
if any, shall cease to accrue on and after the Forced Conversion Date;

 

(iii) the place or places where such
Notes are to be surrendered for payment of the Forced Conversion Consideration;

 

(iv) that Holders may surrender their
Notes for conversion at any time prior to the close of business on the Business Day immediately preceding the Forced Conversion
Date;

 

(v) the then-applicable Conversion
Rate;

 

(vi) the CUSIP, ISIN or other
similar numbers, if any, assigned to such Notes; and

 

(vii) in case any Note is to be converted
in part only, the portion of the principal amount thereof to be converted and on and after the Forced Conversion Date, upon surrender
of such Note, a new Note in principal amount equal to the unconverted portion thereof shall be issued.

 

A Forced Conversion Notice shall be irrevocable.
After the Company has delivered a Forced Conversion Notice, each Holder shall have the right to receive payment and delivery of
the Forced Conversion Consideration for its Notes on the later of (i) the Forced Conversion Date and (ii)(a) if the Notes
are Physical Notes, delivery of its Notes to the Paying Agent or (b) if the Notes are Global Notes, compliance with the applicable
procedures of the Depositary relating to the conversion and delivery of the beneficial interests to be converted to the Paying
Agent and/or Conversion Agent; provided, however, that, until the close of business on the Business Day immediately
preceding such Forced Conversion Date, Holders may convert their Notes, regardless of whether they have been delivered to the Paying
Agent and/or Conversion Agent for conversion, by complying with the requirements for conversion set forth in Article 13.

 

At the Company’s request, the Trustee
shall give the notice of conversion in the name of and at the Company’s expense.

 

(d) If fewer than all of the outstanding
Notes are to be Converted, the Notes to be converted shall be selected: (i) if the Notes are listed on any national securities
exchange, in compliance with the requirements of the principal national securities exchange on which the Notes are listed; (ii) if
the Notes are not so listed but are represented by a Global Note, then by lot or otherwise in accordance with the Depositary’s
applicable procedures; or (iii) if the Notes are not so listed and are not represented by a Global Note, then (in principal
amounts of $1,000 or multiples thereof) on a pro rata basis, by lot or by such other method as the Trustee in its sole discretion
shall deem fair and appropriate (it being understood that as long as Notes are held by DTC, notice shall be given by the rules of
the Depositary). If any Note selected for partial conversion is submitted for conversion in part after such selection, the portion
of the Note submitted for forced conversion shall be deemed (so far as may be possible) to be the portion selected for forced conversion.

 

    56

     

    

 

(e) In the event of any conversion
in part, neither the Company nor the Note Registrar shall be required to register the transfer of or exchange any Note so selected
for conversion, in whole or in part, except the unconverted portion of any Note being converted in part.

 

Section 15.03.     Delivery
of Shares and/or Cash on the Forced Conversion Date.

 

(a) If any Forced Conversion Notice
has been given in respect of the Notes in accordance with Section 15.02, the Forced Conversion Consideration shall
become due and payable on the Forced Conversion Date at the place or places stated in the Forced Conversion Notice in exchange
for the Notes. On presentation and surrender of the Notes at the place or places stated in the Forced Conversion Notice, the Notes
shall be converted by the Company at the applicable Forced Conversion Consideration.

 

(b) Prior to 11:00 a.m. New
York City time on the Forced Conversion Date, the Company shall deposit with the Paying Agent and/or Conversion Agent, as applicable,
or, if the Company or a Subsidiary of the Company or an Affiliate of either of them is acting as the Paying Agent or Conversion
Agent, shall segregate and hold in trust as provided in Section 7.05, an amount of cash and/or comply with Section 13.02
if shares of Common Stock shall be a portion or all of the Forced Conversion Consideration, sufficient to pay and/or deliver the
Forced Conversion Consideration of all of the Notes to be converted on such Forced Conversion Date; provided, however,
that to the extent any such funds are received by the Agent and/or Conversion Agent from the Company after 11:00 a.m., New York
City time, on such due date, such funds shall be deemed deposited within one (1) Business Day of receipt thereof. Subject
to receipt of funds and shares of Common Stock by the Paying Agent and/or Conversion Agent, payment for the Notes to be converted
shall be made on the Forced Conversion Date for such Notes. The Paying Agent and/or Conversion Agent shall, promptly after such
payment and upon written demand by the Company, return to the Company any funds or shares in excess of the Forced Conversion Consideration.

 

Section 15.04.     Restrictions
on Forced Conversion. The Company may not convert any Notes on any date if the principal amount of the Notes has been accelerated
in accordance with the terms of the Indenture, and such acceleration has not been rescinded, on or prior to the Forced Conversion
Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Forced Conversion Consideration
with respect to such Notes).

 

ARTICLE 16.

MISCELLANEOUS PROVISIONS

 

Section 16.01.     Provisions
Binding on Company’s Successors

 

All the covenants, stipulations, promises
and agreements of the Company contained in the Indenture shall bind its successors and assigns whether so expressed or not.

 

Section 16.02.     Official
Acts by Successor Corporation

 

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

 

Section 16.03.     Addresses
for Notices, Etc.

 

Any notice or demand that by any provision
of the Indenture is required or permitted to be given or served by the Trustee or by the Holders on the Company shall be deemed
to have been sufficiently given or made, for all purposes if given or served by following the requirements under Section 1.05
of the Base Indenture.

 

    57

     

    

 

Section 16.04.     Governing
Law; Jurisdiction

 

THE INDENTURE AND EACH NOTE, AND ANY CLAIM,
CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THE INDENTURE OR THE NOTES, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICTS OF LAWS PROVISIONS THEREOF OTHER THAN SECTION 5-1401
OF THE NEW YORK GENERAL OBLIGATIONS LAW OR ANY SUCCESSOR THERETO).

 

The Company irrevocably consents and agrees,
for the benefit of the Holders from time to time of the Notes and the Trustee, that any legal action, suit or proceeding against
it with respect to obligations, liabilities or any other matter arising out of or in connection with the Indenture or the Notes
may be brought in the courts of the State of New York or the courts of the United States located in the Borough of Manhattan, New
York City, New York and, until amounts due and to become due in respect of the Notes have been paid, hereby irrevocably consents
and submits to the non-exclusive jurisdiction of each such court in personam, generally and unconditionally with respect
to any action, suit or proceeding for itself in respect of its properties, assets and revenues.

 

The Company irrevocably and unconditionally
waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the laying of venue of any
of the aforesaid actions, suits or proceedings arising out of or in connection with the Indenture brought in the courts of the
State of New York or the courts of the United States located in the Borough of Manhattan, New York City, New York and hereby further
irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding
brought in any such court has been brought in an inconvenient forum.

 

Section 16.05.     Evidence
of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee.

 

Upon any application or demand by the Company
to the Trustee to take any action under any of the provisions of the Indenture, the Company shall, if requested by the Trustee,
furnish to the Trustee an Officers’ Certificate stating that such action is permitted by the terms of the Indenture and an
Opinion of Counsel stating that in the opinion of such counsel such action is permitted by the terms of the Indenture.

 

Each Officers’ Certificate and Opinion
of Counsel provided for, by or on behalf of the Company in the Indenture and delivered to the Trustee with respect to compliance
with the Indenture shall include (a) a statement that the person signing such certificate is familiar with the requested action
and the Indenture; (b) a brief statement as to the nature and scope of the examination or investigation upon which the statement
contained in such certificate is based; (c) a statement that, in the judgment of such person, he or she has made such examination
or investigation as is necessary to enable him or her to express an informed judgment as to whether or not such action is permitted
by the Indenture; and (d) a statement as to whether or not, in the judgment of such person, such action is permitted by the
Indenture.

 

Notwithstanding anything to the contrary
in this Section 16.05, if any provision in the Indenture specifically provides that the Trustee shall or may receive
an Opinion of Counsel in connection with any action to be taken by the Trustee or the Company hereunder, the Trustee shall be entitled
to, or entitled to request, such Opinion of Counsel.

 

Section 16.06.     Legal
Holidays

 

In any case where any Interest Payment Date,
Fundamental Change Purchase Date, Forced Conversion Date, or Maturity Date is not a Business Day, then any action to be taken on
such date need not be taken on such date, but may be taken on the next succeeding Business Day with the same force and effect as
if taken on such date, and no interest shall accrue in respect of the delay.

 

Section 16.07.     No
Security Interest Created

 

    58

     

    

 

Nothing in the Indenture or in the Notes,
expressed or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation,
as now or hereafter enacted and in effect, in any jurisdiction.

 

Section 16.08.     Benefits
of Indenture

 

Nothing in the Indenture or in the Notes,
expressed or implied, shall give to any Person, other than the Holders (and, to the extent set forth in the last sentence of Section 8.03,
the beneficial owners), the parties hereto, any Paying Agent, any Conversion Agent, any authenticating agent, any Note Registrar
and their successors hereunder, any benefit or any legal or equitable right, remedy or claim under the Indenture.

 

Section 16.09.     Table
of Contents, Headings, Etc.

 

The table of contents and the titles and
headings of the articles and sections of the Indenture have been inserted for convenience of reference only, are not to be considered
a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

 

Section 16.10.     Authenticating
Agent

 

The Trustee may appoint an authenticating
agent that shall be authorized to act on its behalf and subject to its direction in the authentication and delivery of Notes in
connection with the original issuance thereof and transfers and exchanges of Notes hereunder, including under Section 2.05,
Section 2.06, Section 2.07, Section 2.08, Section 10.04, Section 13.02(d) and
Section 14.03 as fully to all intents and purposes as though the authenticating agent had been expressly authorized
by the Indenture and those Sections hereof to authenticate and deliver Notes. For all purposes of the Indenture, the authentication
and delivery of Notes by the authenticating agent shall be deemed to be authentication and delivery of such Notes “by the
Trustee” and a certificate of authentication executed on behalf of the Trustee by an authenticating agent shall be deemed
to satisfy any requirement hereunder or in the Notes for the Trustee’s certificate of authentication. Such authenticating
agent shall at all times be a Person eligible to serve as trustee hereunder pursuant to Section 7.08.

 

Any corporation or other entity into which
any authenticating agent may be merged or converted or with which it may be consolidated, or any corporation or other entity resulting
from any merger, consolidation or conversion to which any authenticating agent shall be a party, or any corporation or other entity
succeeding to the corporate trust business of any authenticating agent, shall be the successor of the authenticating agent hereunder,
if such successor corporation or other entity is otherwise eligible under this Section 16.10, without the execution
or filing of any paper or any further act on the part of the parties hereto or the authenticating agent or such successor corporation
or other entity.

 

Any authenticating agent may at any time
resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time terminate the agency
of any authenticating agent by giving written notice of termination to such authenticating agent and to the Company. Upon receiving
such a notice of resignation or upon such a termination, or in case at any time any authenticating agent shall cease to be eligible
under this Section 16.10, the Trustee may appoint a successor authenticating agent (which may be the Trustee), shall
give written notice of such appointment to the Company and shall mail notice of such appointment to all Holders as the names and
addresses of such Holders appear on the Note Register.

 

The Company agrees to pay to the authenticating
agent from time to time reasonable compensation for its services although the Company may terminate the authenticating agent, if
it determines such agent’s fees to be unreasonable.

 

The provisions of Section 7.02,
Section 7.03, Section 7.04, Section 8.03 and Section 16.10 shall be applicable
to any authenticating agent.

 

If an authenticating agent is appointed
pursuant to this Section 16.10, the Notes may have endorsed thereon, in addition to the Trustee’s certificate
of authentication, an alternative certificate of authentication in the following form:

 

__________________________,

as Authenticating Agent, certifies that this is one of the Notes described

in the within-named Indenture.

 

By: ____________________

Authorized Officer

 

    59

     

    

 

 

Section 16.11.      Execution
in Counterparts

 

This Supplemental Indenture may be executed
in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and
the same instrument. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile, .pdf transmission,
electronic mail or other electronic means (including, without limitation, DocuSign or Adobe Sign) shall constitute
effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original
Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile, .pdf transmission, electronic
mail or other electronic means (including, without limitation, DocuSign or Adobe Sign) shall be deemed to be their
original signatures for all purposes. For the avoidance of doubt, all notices, approvals, consents, requests and any communications
hereunder or with respect to the Notes must be in writing (provided that any communication sent to Trustee hereunder must be in
the form of a document that is signed manually or by way of a digital signature provided by DocuSign or Adobe (or such other digital
signature provider as specified in writing to Trustee by the authorized representative), in English.  The Company agrees to
assume all risks arising out of the use of using digital signatures and electronic methods to submit communications to Trustee,
including, without limitation, the risk of Trustee acting on unauthorized instructions, and the risk of interception and misuse
by third parties.

 

Section 16.12.      Severability

 

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

 

Section 16.13.      Waiver
of Jury Trial

 

EACH OF THE COMPANY 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 NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

Section 16.14.      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 that are consistent
with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

 

Section 16.15.      Calculations

 

Except as otherwise provided herein, the
Company shall be responsible for making all calculations called for under the Notes. These calculations include, but are not limited
to, determinations of the Closing Sale Prices of the Common Stock, any adjustments to the Conversion Rate, the consideration deliverable
in respect of any conversion and accrued interest payable on the Notes. The Company shall make all these calculations in good faith
and, absent manifest error, the Company’s calculations shall be final and binding on Holders of Notes. The Company shall
provide a schedule of its calculations to each of the Trustee and the Conversion Agent, and each of the Trustee and Conversion
Agent is entitled to rely conclusively upon the accuracy of the Company’s calculations without independent verification.
The Trustee shall forward the Company’s calculations to any Holder of Notes upon the request of that Holder at the sole cost
and expense of the Company.

 

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Section 16.16.      USA
PATRIOT Act

 

The parties hereto acknowledge that in accordance
with Section 326 of the USA 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 Supplemental Indenture agree that they
shall provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the USA
PATRIOT Act.

 

[Remainder of page intentionally
left blank]

 

    61

     

    

 

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

 

	TRINITY CAPITAL INC.	 
	 	 	 
	By:	/s/ Steven L. Brown	 
	 	 	 
	Name:	Steven L. Brown	 
	 	 	 
	Title:	Chief Executive Officer	 
	 	 	 
	U.S. BANK NATIONAL ASSOCIATION, as Trustee	 
	 	 	 
	By:	/s/ Karen R. Beard	 
	 	 	 
	Name:	Karen R. Beard	 
	 	 	 
	Title:	Vice President	 

 

[Signature
Page to Second Supplemental Indenture]

 

    

     

    

 

EXHIBIT A

 

[FORM OF FACE OF NOTE]

 

[INCLUDE FOLLOWING LEGEND IF A GLOBAL NOTE
(THE “GLOBAL NOTE LEGEND”)]

 

[THIS SECURITY IS A
GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY
OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER
OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN THE DEPOSITORY TRUST
COMPANY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.]

 

[UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREUNDER 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.]

 

[INSERT RESTRICTED SECURITIES LEGEND, IF
APPLICABLE]

 

Trinity Capital Inc.

 

6.00% Convertible Notes due 2025

 

	No. [_____]	[Initially]1 $[_________]
	 	 
	CUSIP No. [ ]	ISIN No. [
]

 

Trinity Capital Inc., a corporation duly
organized and validly existing under the laws of the State of Maryland (the “Company,” which term includes
any successor corporation or other entity under the Indenture referred to on the reverse hereof), for value received hereby promises
to pay to [CEDE & CO.]2 [_______]3,
or registered assigns, the principal sum [as set forth in the “Schedule of Exchanges of Notes” attached hereto]4
[of $[_______]]5, which
amount, taken together with the principal amounts of all other outstanding Notes, shall not, unless permitted by the Indenture,
exceed $50,000,000 in aggregate at any time, pursuant to the Purchase/Placement Agreement, dated as of December 4], 2020
(the “Purchase/Placement Agreement”), between the Company and Keefe, Bruyette & Woods, Inc. in
its capacity as initial purchaser and placement agent (the “KBW”), in accordance with the rules and procedures
of the Depositary, on December 11, 2025, and interest thereon as set forth below.

 

This Note shall bear interest at the rate
of 6.00% per year from December 11, 2020 (“Original Issue Date”), or from the most recent date to which
interest had been paid or provided for to, but excluding, the next scheduled Interest Payment Date until December 11, 2025.
Interest is payable semi-annually in arrears on each May 1 and November 1, commencing on May 1, 2021, to Holders
of record at the close of business on the preceding April 15 or October 15 (whether or not such day is a Business Day),
respectively. Additional Interest shall be payable as set forth in Section 6.03 of the within-mentioned Supplemental
Indenture, and any reference to interest on, or in respect of, any Note therein shall be deemed to include Additional Interest
if, in such context, Additional Interest is, was or would be payable pursuant to Section 6.03, and any express mention
of the payment of Additional Interest in any provision therein shall not be construed as excluding Additional Interest in those
provisions thereof where such express mention is not made.

 

 

 

1
Include if a global note.

2
Include if a global note.

3
Include if a physical note.

4
Include if a global note.

5
Include if a physical note.

 

    

     

    

 

Any Defaulted Amounts shall accrue interest
per annum at the rate borne by the Notes plus one percent, subject to the enforceability thereof under applicable law, from,
and including, the relevant payment date to, but excluding, the date on which such Defaulted Amounts shall have been paid by the
Company, at its election, in accordance with Section 2.04(c) of the Supplemental Indenture.

 

The Company shall pay the principal of and
interest on this Note, if and so long as such Note is a Global Note, in immediately available funds to the Depositary or its nominee,
as the case may be, as the registered Holder of such Note. As provided in and subject to the provisions of the Indenture, the Company
shall pay the principal of any Notes (other than Notes that are Global Notes) (i) at the Corporate Trust Office or, at the
Company’s option, by check mailed to the Holder’s address as it appears in the Note Register or (ii) under certain
circumstances, by wire transfer in immediately available funds to the Holder’s account within the United States. The Company
has initially designated the Trustee as its Paying Agent and Note Registrar in respect of the Notes and its agency in St. Paul,
Minnesota, as a place where Notes may be presented for payment or for registration of transfer and exchange.

 

Reference is made to the further provisions
of this Note set forth on the reverse hereof, including, without limitation, provisions giving the Holder of this Note the right
to convert this Note into shares of Common Stock on the terms and subject to the limitations set forth in the Indenture. Such further
provisions shall for all purposes have the same effect as though fully set forth at this place.

 

This Note, and any claim, controversy
or dispute arising under or related to this Note, shall be construed in accordance with and 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 New York General Obligations
Law or any successor thereto).

 

In the case of any conflict between this
Note and the Indenture, the provisions of the Indenture shall control and govern.

 

This Note shall not be valid or become obligatory
for any purpose until the certificate of authentication hereon shall have been signed manually or by facsimile, .pdf attachment
or other electronically transmitted signature (including, without limitation, DocuSign or Adobe Sign) by the Trustee
or a duly authorized authenticating agent under the Indenture.

 

[Remainder of page intentionally
left blank]

 

    

     

    

 

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

 

	Dated:	 	 
	 	 
	TRINITY CAPITAL INC.	 
	 	 	 
	By: 	 	 
	 	 	 
	Name: 	 	 
	 	 	 
	Title: 	 	 
	 	 	 
	 	 	 
	Attest: 	 	 
	 	 	 
	Name: 	 	 
	 	 	 
	Title: 	 	 
	 	 
	 	 
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION	 
	 	 
	U.S. Bank National Association as Trustee, certifies that this is one of the Notes described in the within-named Indenture.	 
	 	 	 
	By:	 	 
	 	Authorized Signatory	 
	 	 	 	 	 

    

     

    

 

[FORM OF REVERSE OF NOTE]

 

Trinity Capital Inc.

6.00% Convertible Notes due 2025

 

This Note is one of a duly authorized issue
of Notes of the Company, designated as its 6.00% Convertible Notes due 2025 (the “Notes”), limited to the aggregate
principal amount of $50,000,000 pursuant to the Purchase/Placement Agreement, dated as of December 4, 2020 (the “Purchase/Placement
Agreement”), between the Company and Keefe, Bruyette & Woods, Inc. in its capacity as initial purchaser
and placement agent (the “KBW”), all issued or to be issued under and pursuant to an Indenture dated as of January 16,
2020 (the “Base Indenture”), as amended and supplemented by the Second Supplemental Indenture dated as of December 11,
2020 (herein called the “Supplemental Indenture”; the Base Indenture, as amended and supplemented by the Supplemental
Indenture, and as it may be further amended or supplemented from time to time, the “Indenture”), between the
Company and U.S. Bank National Association (the “Trustee”), to which Indenture and all indentures supplemental
thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder
of the Trustee, the Company and the Holders of the Notes. Additional Notes may be issued in an unlimited aggregate principal amount,
subject to certain conditions specified in the Indenture. Capitalized terms used in this Note and not defined in this Note shall
have the respective meanings set forth in the Indenture.

 

In case certain Events of Default shall
have occurred and be continuing, the principal of, and interest on, all Notes may be declared, by either the Trustee or Holders
of at least 25% in aggregate principal amount of Notes then outstanding, and upon said declaration shall become, due and payable,
in the manner, with the effect and subject to the conditions and certain exceptions set forth in the Indenture.

 

Subject to the terms and conditions of the
Indenture, the Company shall make payment in respect of the principal amount of any Note on the Maturity Date (i) to the Holder
who surrenders a Note at the Corporate Trust Office to collect such payment in respect of the Note or, at the Company’s option,
by check mailed to such Holder at its address as it appears on the Note Register or (ii) under certain circumstances, by wire
transfer in immediately available funds to the Holder’s account within the United States. Subject to any rules or procedures
of the Depositary to the contrary, the Company shall make all payments in respect of the Fundamental Change Purchase Price on the
Fundamental Change Purchase Date by mailing checks for the amount payable to the Holders of such Notes entitled thereto at their
addresses as they shall appear in the Note Register. The Company shall pay cash amounts in money of the United States that at the
time of payment is legal tender for payment of public and private debts.

 

The Indenture contains provisions permitting
the Company and the Trustee in certain circumstances, without the consent of the Holders of the Notes, and in certain other circumstances,
with the consent of the Holders of not less than a majority in aggregate principal amount of the Notes at the time outstanding,
evidenced as in the Indenture provided, to execute supplemental indentures modifying the terms of the Indenture and the Notes as
described therein. It is also provided in the Indenture that, subject to certain exceptions, the Holders of a majority in aggregate
principal amount of the Notes at the time outstanding may on behalf of the Holders of all of the Notes waive any past Default or
Event of Default under the Indenture and its consequences.

 

No reference herein to the Indenture and
no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay or deliver, as the case may be, the principal (including the Fundamental Change Purchase Price and the Forced Conversion
Consideration, if applicable) of, accrued and unpaid interest on, and the consideration due upon conversion of, this Note at the
place, at the respective times, at the rate and in the lawful money herein prescribed.

 

The Notes are issuable in registered form
without coupons in denominations of $1,000 principal amount and integral multiples thereof. At the office or agency of the Company
referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture, Notes may be exchanged
for a like aggregate principal amount of Notes of other authorized denominations, without payment of any service charge but, if
required by the Company or Trustee, with payment of a sum sufficient to cover any transfer or similar tax that may be imposed in
connection therewith as a result of the name of the Holder of the new Notes issued upon such exchange of Notes being different
from the name of the Holder of the old Notes surrendered for such exchange.

 

    

     

    

 

No sinking fund is provided for the Notes.
At the Company’s option, it may cause the Holders to convert all or a portion of the then outstanding principal amount of
the Notes plus accrued but unpaid interest, but excluding the date of such conversion, at any time on or prior to the close of
business on the business day immediately preceding the maturity date, following the listing of the Common Stock on a national securities
exchange, the closing sale price of the Common Stock on such national securities exchange for any 30 consecutive Trading Days exceeds
120% of the Conversion Price.

 

Upon the occurrence of a Fundamental Change,
the Holder has the right, at such Holder’s option, to require the Company to purchase for cash all of such Holder’s
Notes or any portion thereof (in principal amounts of $1,000 or integral multiples thereof) on the Fundamental Change Purchase
Date at a price equal to the Fundamental Change Purchase Price.

 

Subject to the provisions of the Indenture,
the Holder hereof has the right, at its option, prior to the close of business on the Business Day immediately preceding the Maturity
Date, to convert any Notes or portion thereof that is $1,000 or an integral multiple thereof, into shares of Common Stock at the
Conversion Rate specified in the Indenture, as adjusted from time to time as provided in the Indenture.

 

ABBREVIATIONS

 

The following abbreviations, when used in
the inscription of the face of this Note, shall be construed as though they were written out in full according to applicable laws
or regulations:

 

TEN COM = as tenants in common

 

UNIF GIFT MIN ACT = Uniform Gifts to Minors Act

 

CUST = Custodian

 

TEN ENT = as tenants by the entireties

 

JT TEN = joint tenants with right of survivorship and not as tenants in common

 

Additional abbreviations may also be used
though not in the above list.

 

    

     

    

 

SCHEDULE A

 

SCHEDULE OF EXCHANGES OF NOTES

 

Trinity Capital Inc.

6.00% Convertible Notes due 2025

 

The initial principal amount of this Global
Note is [_________] DOLLARS ($[_________]). The following increases or decreases in this Global Note have been made:

 

	Date of exchange	 	Amount of

decrease in

principal amount

of this Global

Note 	 	Amount of

increase in

principal amount

of this Global

Note 	 	Principal amount

of this Global

Note following

such decrease or

increase 	 	Signature of

authorized signatory

of Trustee or

Custodian 

 

    

     

    

 

ATTACHMENT 1

 

[FORM OF NOTICE OF CONVERSION]

 

To: Trinity Capital Inc.

3075 West Ray Road, Suite 525

Chandler, AZ 85226

 

The undersigned registered owner of this
Note hereby exercises the option to convert this Note, or the portion hereof (that is $1,000 principal amount or an integral multiple
thereof) below designated, into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, in
accordance with the terms of the Indenture referred to in this Note, and directs that any cash payable and any shares of Common
Stock issuable and deliverable upon such conversion, together with any cash for any fractional share (if applicable), and any Notes
representing any unconverted principal amount hereof, be issued and delivered to the registered Holder hereof unless a different
name has been indicated below. If any such shares of Common Stock or any portion of this Note not converted are to be issued in
the name of a Person other than the undersigned, the undersigned shall pay all documentary, stamp or similar issue or transfer
taxes, if any, in accordance with Section 13.02(d) and Section 13.02(e) of the Supplemental Indenture. Any
amount required to be paid to the undersigned on account of interest accompanies this Note. Capitalized terms used herein but not
defined shall have the meanings ascribed to such terms in the Indenture.

 

Dated: ______________________ _________________________

 

	 	Signature(s)

 

	 	 
	Signature Guarantee	 

 

Signature(s) must be guaranteed

by an eligible Guarantor Institution

(banks, stock brokers, savings and

loan associations and credit unions)

with membership in an approved

signature guarantee medallion program

pursuant to Securities and Exchange

Commission Rule 17Ad-15 if shares

of Common Stock are to be issued, or

Notes are to be delivered, other than

to and in the name of the registered holder.

 

    

     

    

 

Fill in for registration of shares if

to be issued, and Notes if to

be delivered, other than to and in the

name of the registered holder:

 

	 	 
	(Name)	 
	 	 
	(Street Address)	 
	 	 
	(City, State and Zip Code)	 
	Please print name and address	 

 

	 	Principal amount to be converted (if less than all): $______,000
	 	 
	 	NOTICE: The above signature(s) of the Holder(s) hereof

 must correspond with the name as written upon the face

 of the Note in every particular without alteration or 

enlargement or any change whatever.
	 	 
	 	Social Security or Other Taxpayer
	 	Identification Number

 

    

     

    

 

ATTACHMENT 2

 

[FORM OF FUNDAMENTAL CHANGE Purchase
NOTICE]

 

To: Trinity Capital Inc.

3075 West Ray Road, Suite 525

Chandler, AZ 85226

 

The undersigned registered owner of this
Note hereby acknowledges receipt of a notice from Trinity Capital Inc. (the “Company”) as to the occurrence
of a Fundamental Change with respect to the Company and specifying the Fundamental Change Purchase Date and requests and instructs
the Company to pay to the registered holder hereof in accordance with Section 14.03 of the Supplemental Indenture referred
to in this Note (1) the entire principal amount of this Note, or the portion thereof (that is $1,000 principal amount or an
integral multiple thereof) below designated, and (2) if such Fundamental Change Purchase Date does not fall during the period
after a Regular Record Date and on or prior to the corresponding Interest Payment Date, accrued and unpaid interest, if any, thereon
to, but excluding, such Fundamental Change Purchase Date. Capitalized terms used herein but not defined shall have the meanings
ascribed to such terms in the Indenture.

 

In the case of Physical Notes, the certificate
numbers of the Notes to be purchased are as set forth below:

 

Dated: ______________________

 

	 	 
	 	Signature(s)
	 	 
	 	 
	 	Social Security or Other Taxpayer
	 	Identification Number
	 	 
	 	Principal amount to be repaid (if less than all): 
	 	$______,000
	 	 
	 	NOTICE: The above signature(s) of the Holder(s) hereof

 must correspond with the name as written upon the face 

of the Note in every particular without alteration or

 enlargement or any change whatever.

 

    

     

    

 

ATTACHMENT 3

 

[FORM OF ASSIGNMENT AND TRANSFER]

 

To assign this Note, fill in the form below:

 

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

(Insert
Assignee’s Legal Name)

 

 

 

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

 

 

 

 

 

 

 

 

 

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

 

and irrevocably appoint_______________________________________________________________________________________________________

 

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

 

Date:__________

 

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

 

Signature Guarantee*:____________________

 

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

 

The undersigned hereby certifies that
it  ̈ is / ̈ is not an
Affiliate of the Company and that, to its knowledge, the proposed transferee  ̈
is /  ̈  is not an Affiliate of the Company.

 

In connection with
any transfer or exchange of any of the Securities evidenced by this certificate occurring prior to the Resale Restriction Termination
Date, the undersigned confirms that such Securities are being transferred:

 

CHECK ONE BOX BELOW:

 

	 	(1)	 ̈	To Trinity Capital Inc. or a subsidiary thereof; or
	 	 	 	 
	 	(2)	 ̈	To a “qualified institutional buyer” pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”); or

 

    

     

    

 

	 	(3)	 ̈	transferred pursuant to an effective registration statement under the Securities Act; or
	 	 	 	 
	 	(4)	 ̈	transferred pursuant to another available exemption from the registration requirements of the Securities Act of 1933, as amended.

 

Unless one of the boxes
is checked, the Trustee will refuse to register any of the Securities evidenced by this certificate in the name of any person other
than the registered Holder thereof, provided, however, that if box (4) is checked, the Company may require, prior to registering
any such transfer of the Securities, in its sole discretion, such legal opinions, certifications and other information as the Company
may reasonably request to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject
to, the registration requirements of the Securities Act of 1933, as amended, such as the exemption provided by Rule 144 under
such Act.

 

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

 

Signature Guarantee*:____________________

 

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

 

TO BE COMPLETED BY PURCHASER IF BOX (2) ABOVE
IS CHECKED.

 

The undersigned represents
and warrants that it is purchasing this Security for its own account or an account with respect to which it exercises sole investment
discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A
under the Securities Act of 1933, as amended, and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A
or has determined not to request such information and that it is aware that the transferor is relying upon the undersigned’s
foregoing representations in order to claim the exemption from registration provided by Rule 144A.

 

Dated:  __________________

 

	 	Your Signature:	 
	 	 	  Notice: To be executed by an executive officer

 

Signature Guarantee*:____________________

 

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

 

    

     

    

 

EXHIBIT B

 

[FORM OF CERTIFICATE OF TRANSFER]

 

Trinity Capital Inc.

3075 West Ray Road, Suite 525

Chandler, Arizona 85226

Attention: [_________]

 

email:

 

U.S. Bank National Association, as Trustee and Security Registrar

111 Fillmore Avenue

St. Paul, MN 55107

Attention: Global Corporate Trust Services

 

Re: 6.00% Convertible Notes due 2025

 

Reference is hereby made to the Indenture, dated as of January 16,
2020 (the “Base Indenture”), by and among the Trinity Capital Inc. (the “Company”) and U.S.
Bank National Association (the “Trustee”) as supplemented by the Second Supplemental Indenture, dated as of
December 11, 2020 (the “Second Supplemental Indenture” and together with the Base Indenture, the “Indenture”).
Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.

 

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

 

[CHECK ALL THAT APPLY]

 

1.            [_]
CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE RELEVANT RESTRICTED GLOBAL NOTE OR A DEFINITIVE NOTE PURSUANT
TO RULE 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the United States Securities
Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby further certifies that
the beneficial interest or definitive Note is being transferred to a Person that the Transferor reasonably believes is purchasing
the beneficial interest or definitive Note for its own account, or for one or more accounts with respect to which such Person exercises
sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning
of Rule 144A in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance with any applicable
blue sky securities laws of any state of the United States.

 

2.            [_]
CHECK AND COMPLETE IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN A DEFINITIVE NOTE PURSUANT TO ANY PROVISION OF
THE SECURITIES ACT OTHER THAN RULE 144A. The Transfer is being effected in compliance with the transfer restrictions applicable
to beneficial interests in Restricted Global Notes and definitive Notes containing the Restricted Securities Legends (“Restricted
Definitive Notes”) and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws
of any state of the United States, and accordingly the Transferor hereby further certifies that (check one):

 

(a)            [_]
such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act;

 

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

 

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

 

    

     

    

 

5.             [_]
CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN AN UNRESTRICTED GLOBAL NOTE OR OF AN UNRESTRICTED DEFINITIVE
NOTE.

 

(a)            [_]
CHECK IF TRANSFER IS PURSUANT TO RULE 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144
under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky
securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the
Restricted Securities Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the
proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or definitive Note will no
longer be subject to the restrictions on transfer enumerated in the Restricted Securities Legend printed on the Restricted Global
Notes, on definitive Notes and in the Indenture.

 

(b)            [_]
CHECK IF TRANSFER IS PURSUANT TO OTHER EXEMPTION. (i) The Transfer is being effected pursuant to and in compliance with an
exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and
in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any State
of the United States and (ii) the restrictions on transfer contained in the Indenture and the Restricted Securities Legend
are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance
with the terms of the Indenture, the transferred beneficial interest or definitive Note will not be subject to the restrictions
on transfer enumerated in the Restricted Securities Legend printed on the Restricted Global Note or Restricted Definitive Notes
and in the Indenture.

 

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

 

	 	[Insert Name of Transferor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated:

 

    

     

    

 

ANNEX A TO CERTIFICATE OF TRANSFER

 

1.            The
Transferor owns and proposes to transfer the following:

 

[CHECK ONE]

 

		(a)	[  ]	a beneficial interest in the

 

	 	 	(i)	[ ] Restricted 144A Global Note (CUSIP 896442AE0), or

 

	 	 	(ii)	[ ] Unrestricted 144A Global Note (CUSIP _________); or

 

	 	 	(iii)	[ ] Restricted Regulation S Global Note (CUSIP U89629AB2), or

 

	 	 	(iv)	[ ] Unrestricted Regulation S Global Note (CUSIP _________); or

 

	 	 	(v)	[ ] Restricted IAI Global Note (CUSIP 896442AF7), or

 

	 	 	(vi)	[ ] Unrestricted IAI Global Note (CUSIP _________); or

 

	 	 	(b)	[  ]	a Restricted Definitive Note; or

 

	 	 	(c)	[  ]	an Unrestricted Definitive Note.

 

2.            After
the Transfer the Transferee shall hold:

 

[CHECK ONE]

 

		(a)	[  ]	a beneficial interest in the

 

	 	 	(i)	[ ]	 Restricted 144A Global Note (CUSIP 896442AE0), or

 

	 	 	(ii)	[ ]	Unrestricted 144A Global Note (CUSIP _________); or

 

	 	 	(iii)	[ ]	 Restricted Regulation S Global Note (CUSIP U89629AB2), or

 

	 	 	(iv)	[ ]	Unrestricted Regulation S Global Note (CUSIP _________); or

 

	 	 	(v)	[ ]	 Restricted IAI Global Note (CUSIP 896442AF7), or

 

	 	 	(vi)	[ ]	Unrestricted IAI Global Note (CUSIP _________); or

 

	 	 	(b)	[  ]	a Restricted Definitive Note; or

 

	 	 	(c)	[  ]	an Unrestricted Definitive Note, in accordance with the terms of the Indenture.Exhibit 10.1 

 

EXECUTION VERSION

 

REGISTRATION
RIGHTS AGREEMENT

 

This REGISTRATION RIGHTS
AGREEMENT (this “Agreement”) is made and entered into as of December
11, 2020, between Trinity Capital Inc., a Maryland corporation (together with any successor entity thereto, the “Company”),
and Keefe, Bruyette & Woods, Inc., a Delaware corporation, as the initial purchaser/placement agent (“KBW”),
for the benefit of KBW and the Holders (as defined below).

 

This Agreement is made
pursuant to the Purchase/Placement Agreement, dated as of December 4, 2020 (the “Purchase/Placement
Agreement”), between the Company and KBW, in connection with the sale and purchase or placement of an aggregate
principal amount of $50.0 million of the Company’s 6.00% Convertible Notes due 2025 (the “Notes”).
The Notes will be convertible into shares (the “Shares”) of common stock of the Company, par value
$0.001 per share (the “Common Stock”), cash, and/or a combination of cash and the Shares, as set forth in the
Indenture (as defined below) and in accordance with the terms of the Notes. In order
to induce KBW to enter into the Purchase/Placement Agreement, the Company has agreed to provide the registration rights provided
for in this Agreement to the Holders. The execution of this Agreement is a condition to the closing of the transactions contemplated
by the Purchase/Placement Agreement.

 

The parties hereto hereby agree as follows:

 

		1.	DEFINITIONS

 

As used in this Agreement, the following terms
shall have the following meanings:

 

Accredited
Investor Notes: The Notes initially sold by the Company to “accredited investors” (within the meaning of
Rule 501(a) promulgated under the Securities Act).

 

Accredited
Investor Shares: The Shares received upon the conversion of Accredited Investor Notes.

 

Action:
As defined in Section 6(a) hereof.

 

Affiliate:
As to any specified Person, as defined in Rule 12b-2 under the Exchange Act.

 

Agreement:
As defined in the preamble.

 

Board
of Directors: The board of directors of the Company.

 

Business
Day: With respect to any act to be performed hereunder, each Monday, Tuesday, Wednesday, Thursday and Friday that is
not a day on which banking institutions in New York, New York or other applicable places where such act is to occur are authorized
or obligated by applicable law, regulation or executive order to close.

 

     

     

    

 

Bylaws:
The Bylaws of the Company, adopted as of September 27, 2019, as amended from time to time.

 

Closing
Date: December 11, 2020 or such other time or such other date as KBW and the Company may agree.

 

Commission:
The U.S. Securities and Exchange Commission.

 

Common
Stock: As defined in the Preamble.

 

Company:
As defined in the preamble.

 

Company
Charter: The Articles of Amendment and Restatement of the Company, adopted as of November 6, 2019, as amended from time to time.

 

Controlling
Person: As defined in Section 6(a) hereof.

 

End
of Suspension Notice: As defined in Section 5(b) hereof.

 

Exchange
Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the Commission pursuant
thereto.

 

FINRA:
The Financial Industry Regulatory Authority.

 

Holder:
means either a Shareholder or Noteholder.

 

Indemnified
Party: As defined in Section 6(c) hereof

 

Indemnifying
Party: As defined in Section 6(c) hereof.

 

Indenture: The
Indenture, dated as of January 16, 2020, by and between the Company and the Trustee, as supplemented by the Second Supplemental
Indenture, pursuant to which the Notes are to be issued, as such Indenture may be amended or supplemented from time to time in
accordance with the terms thereof.

 

Information:
As defined in Section 9(o) hereof.

 

IPO:
An initial public offering of the Company’s equity or equity-linked securities by the Company and a listing of the Common
Stock on a National Securities Exchange.

 

Issuer
Free Writing Prospectus: As defined in Section 2(c) hereof.

 

JOBS
Act: The Jumpstart Our Business Startups Act of 2012, as amended, and the rules and regulations promulgated by the Commission
thereunder.

 

KBW:
As defined in the preamble.

 

Liabilities:
As defined in Section 6(a) hereof.

 

    	 	2	 

     

    

 

National
Securities Exchange: The New York Stock Exchange, the Nasdaq Global Select Market, the Nasdaq Global Market, or any
similar national securities exchange.

 

Notes:
As defined in the preamble.

 

Noteholder:
Each record owner of any Registrable Notes from time to time.

 

Notes
Shelf Registration Statement: As defined in Section 2(b) hereof.

 

Person:
An individual or a corporation, limited liability company, partnership, association, joint-stock company, trust, unincorporated
organization, government or agency or political subdivision thereof, or any other legal entity.

 

Proceeding:
An action (including a class action), claim, suit or proceeding (including without limitation, an investigation or partial proceeding,
such as a deposition), whether commenced or, to the knowledge of the Person subject thereto, threatened.

 

Prospectus:
The prospectus included in any Resale Registration Statement, including any preliminary prospectus at the applicable “time
of sale” within the meaning of Rule 159 under the Securities Act, and all other amendments and supplements to any such prospectus,
including post-effective amendments to the applicable Resale Registration Statement, and all material incorporated by reference
or deemed to be incorporated by reference, if any, in such prospectus.

 

Purchase/Placement
Agreement: As defined in the preamble.

 

Purchaser
Indemnitee: As defined in Section 6(a) hereof.

 

Registrable Notes:
Each Note, until the earliest to occur of (a) the date on which such Note has been effectively registered under the Securities
Act and disposed of in accordance with a Resale Registration Statement relating to it, (b) the date on which such Note does not
bear a restricted CUSIP number and is sold pursuant to Rule 144 under the Securities Act (or any similar provision then in
effect) or is freely saleable, without condition, pursuant to Rule 144 (or any similar provision then in effect) under circumstances
in which any legend borne by such Note relating to restrictions on transferability thereof, under the Securities Act or otherwise,
is removed by the Company or pursuant to the Indenture and (c) the date on which such Note ceases to be outstanding.

 

Registrable
Securities: means Registrable Notes and Registrable Shares.

 

Registrable
Shares: means (i) the Rule 144A Shares, the Regulation S Shares, and the Accredited Investor Shares, upon original issuance
thereof, and at all times subsequent thereto, including upon the transfer thereof by the original holder or any subsequent holder
and (ii) any shares or other securities of the Company issued in respect of any Registrable Shares by reason of or in connection
with any stock dividend, stock distribution, stock split, purchase in any rights offering or in connection with any exchange for,
or conversion or replacement of, any such Registrable Shares, or any combination of shares, recapitalization, merger or consolidation,
or any other equity securities of the Company issued pursuant to any other pro rata distribution with respect to the Common Stock,
until, in the case of any such share of Common Stock or any such share or other security, the earliest to occur of: (a) the date
on which the resale of such share of Common Stock or such share or other security has been registered pursuant to the Securities
Act and it has been disposed of in accordance with the Resale Registration Statement relating to it; (b) the date on which such
share of Common Stock or such share or other security (1) has been transferred pursuant to Rule 144 (or any similar provision then
in effect) or is freely saleable, without condition, pursuant to Rule 144 (or any similar provision then in effect), including
any current public information requirements (and the Holder of such share of Common Stock or such share or other security beneficially
owns less than 1.0% of the outstanding Common Stock or of the outstanding shares or other securities, as the case may be), and
(2) is listed for trading on a National Securities Exchange; and (c) the date on which such share of Common Stock or such share
or other security is sold to the Company or otherwise ceases to be outstanding.

 

    	 	3	 

     

    

 

Registration
Expenses: Any and all fees and expenses incident to the performance of or compliance with this Agreement, including,
without limitation: (a) all Commission, securities exchange, FINRA or other registration, listing, inclusion and filing fees; (b)
all fees and expenses incurred in connection with compliance with international, federal or state securities or blue sky laws (including,
without limitation, any registration, listing and filing fees, and reasonable fees and disbursements of counsel in connection with
blue sky qualification of any of the Registrable Securities, the preparation of a blue sky memorandum, and compliance with the
rules of FINRA); (c) all expenses in preparing or assisting in preparing, word processing, duplicating, printing, delivering and
distributing any Resale Registration Statement, any Prospectus, any amendments or supplements thereto, any underwriting agreements,
securities sales agreements, certificates and any other documents relating to the performance under and compliance with this Agreement;
(d) all fees and expenses incurred in connection with the listing or inclusion of any of the Registrable Shares on any securities
exchange pursuant to Section 4(m) hereof; (e) the fees and disbursements of counsel for the Company and of the independent
registered public accounting firm of the Company (including, without limitation, the expenses of any special audit and “cold
comfort” letters required by or incident to the performance of this Agreement); (f) reasonable and documented fees and disbursements
of counsel to the Holders, with respect to a review of the Resale Registration Statement and other offering arrangements for the
Holders (such counsel, “Review Counsel”) in an amount not to exceed,
in the aggregate, $75,000; and (g) any fees and disbursements customarily paid by issuers in connection with offerings, sales and
issuances of securities (including the fees and expenses of any experts retained by the Company in connection with any Resale Registration
Statement); provided, however, that Registration Expenses shall exclude any and all brokers’ or underwriters’
discounts and commissions, transfer taxes, and transfer fees relating to the sale or disposition of Registrable Securities by a
Holder, and the fees and expenses of any counsel to the Holders, except as provided for in clause (f) above.

 

Regulation
S: Regulation S (Rules 901-905) promulgated by the Commission under the Securities Act, as such rules may be amended
from time to time, or any similar rule or regulation hereafter adopted by the Commission as a replacement thereto having substantially
the same effect as such regulation.

 

Regulation
S Notes: The Notes initially sold by the Company to KBW and resold by KBW pursuant to the Purchase/Placement Agreement
to “non-U.S. persons” (in accordance with Regulation S) in an “offshore transaction” (in accordance with
Regulation S).

 

    	 	4	 

     

    

 

Regulation
S Shares: The Shares received upon the conversion of Regulation S Notes.

 

Resale
Registration Statement: Any registration statement of the Company filed or confidentially submitted with the Commission
under the Securities Act, including any Notes Shelf Registration Statement and any Shares Shelf Registration Statement, that covers
the resale of Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus, amendments and supplements
to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto and all material
incorporated by reference or deemed to be incorporated by reference, if any, in such registration statement.

 

Review
Counsel: As defined in clause (f) of the definition for “Registration Expenses.”

 

Rule
144A notes: The Notes initially sold by the Company to KBW and resold by KBW pursuant to the Purchase/Placement Agreement
to “qualified institutional buyers” (as such term is defined in Rule 144A).

 

Rule
144A Shares: The Shares received upon the conversion of Rule 144A Notes.

 

SEC
Guidance: Means (i) any publicly available written or oral interpretations, questions and answers, guidance and forms
of the Commission, (ii) any oral or written comments, requirements or requests of the Commission or its staff, (iii) the Securities
Act and the Exchange Act and (iv) any other rules, bulletins, releases, manuals and regulations of the Commission.

 

Second Supplemental
Indenture: The Second Supplemental Indenture, dated as of December 11, 2020, by and between the Company and Trustee, pursuant
to which the Notes are to be issued.

 

Securities
Act: The Securities Act of 1933, as amended, and the rules and regulations promulgated by the Commission thereunder.
Any reference to a “Rule” number herein, unless otherwise specified, shall be a reference to such Rule number promulgated
by the Commission pursuant to the Securities Act, as such rule may be amended from time to time, or any similar rule or regulation
hereafter adopted by the Commission as a replacement thereto having substantially the same effect as such rule.

 

Shares:
As defined in the preamble.

 

Shareholder:
Each record owner of any Registrable Shares from time to time.

 

Shares
Shelf Registration Statement: As defined in Section 2(a) hereof.

 

Suspension
Event: As defined in Section 5(b) hereof.

 

Suspension
Notice: As defined in Section 5(b) hereof.

 

Trustee: means
U.S. Bank National Association.

 

Underwritten
Offering: A sale of Registrable Securities to an underwriter or underwriters for reoffering to the public, including
a “block trade” or other similar transaction.

 

    	 	5	 

     

    

 

		2.	REGISTRATION RIGHTS

 

(a)          Mandatory
Shares Shelf Registration.

 

Filing
and Effectiveness. As set forth in Section 4 hereof, as soon as reasonably practicable after the later of (i) the
completion of an IPO and (ii) the date that is 180 days after the Closing Date (or, if such 180th day is not a Business
Day, the next succeeding Business Day), the Company agrees to file with the Commission a shelf Resale Registration Statement on
Form N-2, or such other form under the Securities Act then available to the Company, providing for the resale of the Registrable
Shares pursuant to Rule 415, from time to time, by the Shareholders (a “Shares Shelf
Registration Statement”). Subject to Section 4 hereof, the Company shall use commercially reasonable efforts
to cause such Shares Shelf Registration Statement to be declared effective by the Commission no later than six (6) months after
an IPO and to cause the Registrable Shares to be listed on a National Securities Exchange concurrently with the effectiveness of
the Shares Shelf Registration Statement. Any Shares Shelf Registration Statement shall provide for the resale, from time to time,
of any and all Registrable Shares by the Shareholders pursuant to any method or combination of methods legally available and customarily
used (including, without limitation, a block trade, an Underwritten Offering, a forward sale, an option, a short sale, a put, a
call or other derivative transaction, a direct sale to purchasers or a sale through brokers or agents, which may include sales
over the internet). Nothing in this Section 2 or elsewhere in this Agreement shall be construed to modify in any way any
agreement (with the Company or with any underwriter) by any Shareholder not to sell Registrable Shares for any period of time,
including pursuant to Section 7 hereof.

 

(b)          Mandatory
Notes Shelf Registration.

 

Filing and Effectiveness. As
set forth in Section 4 hereof, the Company agrees to file with the Commission within 180 days after the Closing Date (or
if such 180th day is not a Business Day, the next succeeding Business Day) a shelf Resale Registration Statement on Form N-2, or
such other form under the Securities Act then available to the Company, providing for the resale of the Registrable Notes pursuant
to Rule 415, from time to time, by the Noteholders (a “Notes Shelf Registration Statement”). Subject to Section
4 hereof, the Company shall use commercially reasonable efforts to cause such Notes Shelf Registration Statement to be declared
effective by the Commission as soon as practicable after the initial filing thereof (but in no event later than 270 days after
the Closing Date (or if such 270th day is not a Business Day, the next succeeding Business Day)). Any Notes Shelf Registration
Statement shall provide for the resale, from time to time, of any and all Registrable Notes by the Noteholders pursuant to any
method or combination of methods legally available and customarily used (including, without limitation, a block trade, an Underwritten
Offering, a forward sale, an option, a short sale, a put, a call or other derivative transaction, a direct sale to purchasers or
a sale through brokers or agents, which may include sales over the internet). Nothing in this Section 2 or elsewhere in
this Agreement shall be construed to modify in any way any agreement (with the Company or with any underwriter) by any Noteholder
not to sell Registrable Notes for any period of time, including pursuant to Section 7 hereof

 

    	 	6	 

     

    

 

(c)          Issuer
Free Writing Prospectus. The Company represents and agrees that, unless it obtains the prior consent of Holders
of a majority of the Registrable Securities that are included in a Resale Registration Statement at such time or the consent of
the lead managing underwriter in connection with any Underwritten Offering, and each Holder represents and agrees that, unless
it obtains the prior consent of the Company and, in connection with any Underwritten Offering, the consent of the lead managing
underwriter of such Underwritten Offering, it shall not make any offer relating to the Registrable Securities that would constitute
an “issuer free writing prospectus,” as defined in Rule 433 (an “Issuer
Free Writing Prospectus”), or that would otherwise constitute a “free writing prospectus,” as defined
in Rule 405, required to be filed with the Commission. The Company represents that any Issuer Free Writing Prospectus will not
include any information that conflicts with the information contained in the applicable Resale Registration Statement or the related
Prospectus, and any Issuer Free Writing Prospectus, when taken together with the information in such Resale Registration Statement
and the related Prospectus, will not include any untrue statement of a material fact or omit to state any material fact necessary
in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

 

(d)          Expenses. The Company shall pay all Registration
Expenses pursuant to this Agreement; provided, however, that each Holder participating in a registration pursuant to this Section
2 shall bear such Holder’s proportionate share (based on the total number of Registrable Securities sold in such registration)
of all discounts and commissions payable to underwriters or brokers and all transfer taxes and transfer fees, if any, in connection
with the registration of the Registrable Securities pursuant to this Agreement.

 

(e)          JOBS
ACT Submissions. For purposes of this Agreement, if the Company elects to confidentially submit a draft of the
Shares Shelf Registration Statement or Notes Shelf Registration Statement with the Commission pursuant to the JOBS Act, the date
on which the Company makes such confidential submission shall be deemed the initial filing date of such Shares Shelf Registration
Statement or Notes Shelf Registration Statement.

 

		3.	RULES 144 AND 144A REPORTING

 

With a view to making
available the benefits of certain rules and regulations of the Commission that may at any time permit the resale of the Registrable
Securities to the public without registration, until such date as no Holder owns any Registrable Securities, the Company agrees
to:

 

(a)           make
and keep “current public information” available, as those terms are understood and defined in Rule 144, at all times
after the date hereof;

 

(b)          file
with the Commission in a timely manner all reports and other documents required to be filed by the Company under the Securities
Act and the Exchange Act (at any time after it has become subject to such reporting requirements);

 

    	 	7	 

     

    

 

(c)          if the Company is not required to file reports and other documents under the Securities Act or the Exchange Act, make available
other information as required by, and so long as necessary to permit sales of Registrable Securities pursuant to, Rule 144 or Rule
144A, and in any event make available (either by e-mailing a copy thereof, by posting on the Company’s website or by press
release) to each Holder (and each prospective holder of Registrable Securities, upon request) a copy of:

 

(i)           the Company’s annual consolidated financial statements (including at least balance sheets, statements of profit and
loss, statements of stockholders’ equity and statements of cash flows) prepared in accordance with U.S. generally accepted
accounting principles in the United States, accompanied by an audit report of the Company’s independent accountants, no later
than ninety (90) days after the end of each fiscal year of the Company; and

 

(ii)          the Company’s unaudited quarterly consolidated financial statements (including at least balance sheets, statements
of profit and loss, statements of stockholders’ equity and statements of cash flows) prepared in a manner consistent with
the preparation of the Company’s annual financial statements, no later than forty-five (45) days after the end of each of
the first three fiscal quarters of the Company;

 

(d)          hold, a reasonable time after the availability of such financial statements and upon reasonable notice to the Holders and
KBW (either by mail, by posting on the Company’s website or by press release), a quarterly investor conference call to discuss
such financial statements, which call will also include an opportunity for the Holders to ask questions of management with regard
to such financial statements, and will also cooperate with, and make management reasonably available to, KBW personnel in connection
with making Company information available to investors; and

 

(e)          furnish
to the Holder promptly upon request (i) a written statement by the Company as to its compliance with the reporting requirements
of Rule 144 (at any time), and of the Securities Act and the Exchange Act (at any time after it has become subject to the reporting
requirements of the Exchange Act), and (ii) a copy of the most recent annual and quarterly reports of the Company.

 

		4.	REGISTRATION PROCEDURES

 

In connection with
the obligations of the Company with respect to any registration pursuant to this Agreement, the Company shall use its commercially
reasonable efforts to effect or cause to be effected the registration of the Registrable Securities under the Securities Act to
permit the sale of such Registrable Securities by the Holder or Holders in accordance with this Agreement and the Holder’s
or Holders’ intended method or methods of distribution, and the Company shall:

 

(a)           (i)
at least ten (10) Business Days prior to filing, provide notice of its intention to file a Resale Registration Statement to the
relevant underwriters (each, a “Review Party”), (ii) at least five
(5) Business Days prior to filing, provide a copy of the Resale Registration Statement to the Review Parties and Review Counsel
for review and comment; (iii) as promptly as practicable, prepare and file with the Commission, as specified in this Agreement,
a Resale Registration Statement(s), which Resale Registration Statement(s) shall (A) comply as to form in all material respects
with the requirements of the Securities Act and the applicable form and include all financial statements required by the Commission
to be filed therewith and (B) be reasonably acceptable to the Review Parties, their counsel and Review Counsel; (iv) at least
three (3) Business Days prior to filing, provide a copy of any amendment or supplement to the Review Parties, their counsel and
Review Counsel for review and comment; (v) promptly following receipt from the Commission, provide to the Review Parties, their
counsel and Review Counsel copies of any comments made by the Staff of the Commission relating to such Resale Registration Statement
and of the Company’s responses thereto for review and comment; and (vi) use its commercially reasonable efforts to cause
such Resale Registration Statement to become effective as soon as practicable after filing and to remain effective, subject to
Section 5 hereof, until the earlier of (A) such time as all Registrable Securities covered thereby have been sold in accordance
with the method or methods of distribution of such Registrable Securities contemplated by the Resale Registration Statement; (B)
there are no Registrable Securities outstanding; or (C) the first anniversary of the effective date of such Resale Registration
Statement (subject to extension as provided in Section 5(c) hereof and the condition that the Registrable Securities have
been transferred to an unrestricted CUSIP and are listed or included on a National Securities Exchange pursuant to Section
4(o) of this Agreement), and the counsel to the Company shall have delivered a legal opinion to the Review Parties in form
and substance reasonably acceptable to the Review Parties, their counsel and Review Counsel that the Registrable Securities can
be sold under Rule 144 without limitation as to manner of sale, volume or current public information; provided, further,
that if the Company has an effective Shelf Registration Statement on Form N-2 (or other form then available to the Company) under
the Securities Act and becomes eligible to use Form N-2 to make offerings as described in General Instruction I.B of Form S-3
or such other short-form registration statement form under the Securities Act, the Company may, upon thirty (30) Business Days
prior written notice to all Holders, register any Registrable Securities registered but not yet distributed under the effective
Shelf Registration Statement on such a short-form Shelf Registration Statement and, once the short-form Shelf Registration Statement
is declared effective, de-register such shares under the previous Resale Registration Statement or transfer the filing fees from
the previous Resale Registration Statement (such transfer pursuant to Rule 429, if applicable) unless any Holder registered under
the initial Shelf Registration Statement notifies the Company within fifteen (15) Business Days of receipt of the Company notice
that such a registration under a new Resale Registration Statement and de-registration of the initial Shelf Registration Statement
would interfere with its distribution of Registrable Securities already in progress, in which case, the Company shall delay the
effectiveness of the short-form Resale Registration Statement and termination of the then-effective initial Resale Registration
Statement or any short-form Resale Registration Statement for a period of not less than thirty (30) days from the date that the
Company receives the notice from such Holders requesting a delay;

 

    	 	8	 

     

    

 

(b)          subject
to Section 4(h) hereof, as promptly as practicable (i) prepare and file with the Commission such amendments and post-effective
amendments to each such Resale Registration Statement as may be necessary to keep such Resale Registration Statement effective
in accordance with SEC Guidance for the period described in Section 4(a) hereof; (ii) cause each Prospectus contained therein
to be supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant SEC Guidance; and (iii)
comply with SEC Guidance with respect to the disposition of all securities covered by each Resale Registration Statement during
the applicable period in accordance with the intended method or methods of distribution by the selling Holders thereof;

 

(c)          furnish
to the Holders, without charge, as many copies of each Prospectus, including each preliminary Prospectus, and any amendment or
supplement thereto and such other documents as such Holder may reasonably request (including, without limitation, copies of all
correspondence with the Commission and any other governmental authority in connection with the Resale Registration Statement),
in order to facilitate the public sale or other disposition of the Registrable Securities, and hereby does consent to the use
of such Prospectus, including each preliminary Prospectus, by the Holders, if any, in connection with the offering and sale of
the Registrable Securities covered by any such Prospectus, subject to Section 5 hereof;

 

    	 	9	 

     

    

 

(d)          use
its commercially reasonable efforts to register or qualify, or obtain exemption from registration or qualification for, all Registrable
Securities by the time the applicable Resale Registration Statement is declared effective by the Commission under all applicable
state securities or “blue sky” laws of such jurisdictions as the Review Parties or any Holder of Registrable Securities
covered by a Resale Registration Statement shall reasonably request in writing, keep each such registration or qualification or
exemption effective during the period such Resale Registration Statement is required to be kept effective pursuant to Section
4(a) and do any and all other acts and things that may be reasonably necessary or advisable to enable such Holder to consummate
the disposition in each such jurisdiction of such Registrable Securities owned by such Holder; provided, however, that
the Company shall not be required to (i) qualify generally to do business in any jurisdiction or to register as a broker or dealer
in such jurisdiction where it would not otherwise be required to qualify but for this Section 4(d) and except as may be
required by SEC Guidance, (ii) subject itself to taxation in any such jurisdiction or (iii) submit to the general service of process
in any such jurisdiction;

 

(e)          (i)
notify the Review Parties and each Holder promptly and, if requested by any Review Party or any Holder, confirm such advice in
writing (A) when a Resale Registration Statement has become effective and when any post-effective amendments and supplements thereto
become effective, (B) of the issuance by the Commission or any state securities authority of any stop order suspending the effectiveness
of a Resale Registration Statement or the initiation of any Proceeding for that purpose, (C) of any request by the Commission
or any other federal, state or foreign governmental authority for (1) amendments or supplements to a Resale Registration Statement
or related Prospectus or (2) additional information, and (D) of the happening of any event during the period a Resale Registration
Statement is effective as a result of which such Resale Registration Statement or the related Prospectus or any document incorporated
by reference therein contains any untrue statement of a material fact or omits to state any material fact required to be stated
therein or necessary to make the statements therein not misleading (which information shall be accompanied by an instruction to
suspend the use of the Prospectus until the requisite changes have been made); and (ii) at the request of any such Holder, promptly
to furnish to such Holder a reasonable number of copies of a supplement to or an amendment of such Prospectus as may be necessary
so that, as thereafter delivered to the purchaser of such securities, such Prospectus shall not include an untrue statement of
a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading;

 

(f)           use
its commercially reasonable efforts to avoid the issuance of, or if issued, to obtain the withdrawal of, any order enjoining or
suspending the use or effectiveness of a Resale Registration Statement or suspending the qualification of (or exemption from qualification
of) any of the Registrable Securities for sale in any jurisdiction, as promptly as practicable;

 

    	 	10	 

     

    

 

(g)          upon request, promptly furnish to each requesting Holder of Registrable Securities covered by a Resale Registration Statement,
without charge, one conformed copy of such Resale Registration Statement and any post-effective amendment or supplement thereto
(without documents incorporated therein by reference or exhibits thereto, unless requested); provided, such conformed copy may
be delivered electronically in pdf form;

 

(h)          except
as provided in Section 5 hereof, upon the occurrence of any event contemplated by Section 4(e)(i)(D) hereof, use
its commercially reasonable efforts promptly to prepare a supplement or post-effective amendment to a Resale Registration Statement
or the related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter
delivered to the purchasers of the Registrable Securities, such Prospectus will not contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light
of the circumstances under which they were made, not misleading;

 

(i)           if requested by the Review Parties, or any Holders of Registrable Securities being sold in connection with such offering,
(i) promptly incorporate in a Prospectus supplement or post-effective amendment such information as the representative of the underwriters,
if any, or such Holders indicate relates to them or that they reasonably request be included therein and (ii) make all required
filings of such Prospectus supplement or such post-effective amendment as soon as reasonably practicable after the Company has
received notification of the matters to be incorporated in such Prospectus supplement or post-effective amendment;

 

(j)           in the case of an Underwritten Offering, use its commercially reasonable efforts to furnish to each Holder of Registrable
Securities covered by such Resale Registration Statement and the underwriters a signed counterpart, addressed to each such Holder
and the underwriters, of (i) customary opinion and negative assurance letters of outside counsel for the Company, addressed
to the underwriters, dated the date of each closing under the underwriting agreement, reasonably satisfactory to such Holder and
the underwriters, and (ii) a “comfort” letter, addressed to the underwriters and the Board of Directors, dated the
effective date of such Resale Registration Statement and the date of each closing under the underwriting agreement, signed by the
independent public accountants who have certified the Company’s financial statements included in such Resale Registration
Statement, covering substantially the same matters with respect to such Resale Registration Statement (and the Prospectus included
therein) and with respect to events subsequent to the date of such financial statements, as are customarily covered in accountants’
letters delivered to underwriters in underwritten public offerings of securities and such other financial matters as such Holder
and the underwriters may reasonably request;

 

(k)          enter
into customary agreements (including in the case of an Underwritten Offering, an underwriting agreement in customary form and
reasonably satisfactory to the Company) and take all other reasonable action in connection therewith in order to expedite or facilitate
the distribution of the Registrable Securities included in such Resale Registration Statement and, in the case of an Underwritten
Offering, make representations and warranties to the Holders covered by such Resale Registration Statement and to the underwriters
in such form and scope as are customarily made by issuers to underwriters in underwritten offerings and confirm the same to the
extent customary if and when requested;

 

    	 	11	 

     

    

 

(l)           make
available for inspection by representatives of the Holders and the representative of any underwriters participating in any disposition
pursuant to a Resale Registration Statement and any special counsel or accountants retained by such Holders or underwriters, all
financial and other records, pertinent corporate documents and properties of the Company and cause the respective officers, directors
and employees of the Company to supply all information reasonably requested by any such representatives, the representative of
the underwriters, counsel thereto or accountants in connection with a Resale Registration Statement; provided, however,
that such records, documents or information that the Company determines, in good faith, to be confidential and notifies such representatives,
representative of the underwriters, counsel thereto or accountants are confidential shall not be disclosed by such representatives,
representative of the underwriters, counsel thereto or accountants unless (i) the disclosure of such records, documents or information
is necessary to avoid or correct a misstatement or omission in a Resale Registration Statement or Prospectus, (ii) the release
of such records, documents or information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction,
or (iii) such records, documents or information have been generally made available to the public; provided, further, that
the representatives of the Holders and any underwriters will use commercially reasonable efforts, to the extent practicable, to
coordinate the foregoing inspection and information gathering and not materially disrupt the Company’s business operations;

 

(m)         use its commercially reasonable efforts (including, without limitation, seeking to cure any deficiencies cited by the exchange
or market in the Company’s listing or inclusion application) to list or include all Registrable Shares on The New York Stock
Exchange, Nasdaq Global Select Market or the Nasdaq Global Market, and to maintain such listing;

 

(n)          prepare
and file in a timely manner all documents and reports required by the Exchange Act and, to the extent the Company’s obligation
to file such reports pursuant to Section 15(d) of the Exchange Act expires prior to the expiration of the effectiveness period
of the Registration Statement as required by Section 4(a) hereof, the Company shall register the Registrable Shares under
the Exchange Act and shall maintain such registration through the effectiveness period required by Section 4(a) hereof;

 

(o)          provide
one or more CUSIP numbers for all Registrable Securities, not later than the effective date of the Resale Registration Statement;

 

(p)          (i)
otherwise use its commercially reasonable efforts to comply with all applicable SEC Guidance, (ii) make generally available to
its stockholders, as soon as reasonably practicable, earnings statements covering at least twelve (12) months (or the period beginning
on the date of the Company’s inception, if shorter) beginning after the effective date of the Resale Registration Statement
that satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 (or any similar rule promulgated under the Securities
Act) thereunder, but in no event later than forty-five (45) days after the end of each fiscal year of the Company, and (iii) not
file any Resale Registration Statement or Prospectus or amendment or supplement to such Resale Registration Statement or Prospectus
to which any Holder of Registrable Securities covered by any Resale Registration Statement shall have reasonably objected on the
grounds that such Resale Registration Statement or Prospectus or amendment or supplement does not comply in all material respects
with the requirements of the Securities Act, each Holder having been furnished with a copy thereof at least two (2) Business Days
prior to the filing thereof;

 

    	 	12	 

     

    

 

(q)          provide
and cause to be maintained a registrar and transfer agent for all Registrable Shares;

 

(r)           in connection with any sale or transfer of the Registrable Shares (whether or not pursuant to a Resale Registration Statement)
that will result in the securities being delivered no longer being Registrable Shares, cooperate with the Holders and the representative
of the underwriters, if any, to facilitate the timely, in the case of beneficial interests in Shares held through a depositary,
transfer of such equivalent Registrable Shares with an unrestricted CUSIP, or in the case of certificated shares, preparation and
delivery of certificates representing the Registrable Shares to be sold, which certificates shall not bear any restrictive transfer
legends (other than as required by the Company’s organizational documents) and to enable such Registrable Shares to be in
such denominations and registered in such names as the representative of the underwriters, if any, or the Holders may request at
least three (3) Business Days prior to any sale of the Registrable Shares;

 

(s)          in connection with the initial filing of a Resale Registration Statement and each amendment thereto with the Commission
pursuant to Section 2(a) hereof, prepare and, within one (1) Business Day of such filing with the Commission, file
with FINRA all forms and information required or requested by FINRA that are customarily filed by issuers or required to be filed
by issuers, and to cooperate with the Review Parties in connection with other required FINRA filings, in order to obtain written
confirmation from FINRA that FINRA does not object to the fairness and reasonableness of the underwriting terms and arrangements
(or any deemed underwriting terms and arrangements) relating to the resale of Registrable Securities pursuant to the Resale Registration
Statement, including, without limitation, information provided to FINRA through its Public Offering System, and pay all costs,
fees and expenses incident to FINRA’s review of the Resale Registration Statement and the related underwriting terms and
arrangements, including, without limitation, all filing fees associated with any filings or submissions to FINRA and the legal
expenses, filing fees and other disbursements of the Review Parties and any other FINRA member that is the Holder of, or is affiliated
or associated with an owner of, Registrable Securities included in the Resale Registration Statement (including in connection with
any initial or subsequent member filing);

 

(t)           in
connection with the initial filing of a Resale Registration Statement and each amendment thereto with the Commission pursuant
to Section 2(a) hereof, provide to the Review Parties and their representatives the opportunity to conduct due diligence,
including, without limitation, an inquiry of the Company’s financial and other records, and make available members of its
management for questions regarding information which the Review Parties may request in order to fulfill any due diligence obligation
on its part;

 

(u)          upon effectiveness of the Shares Resale Registration Statement filed under this Agreement, take such actions and make such
filings as are necessary to effect the registration of the Registrable Shares under the Exchange Act simultaneously with or immediately
following the effectiveness of the Shares Resale Registration Statement;

 

(v)          in
the case of an Underwritten Offering, use its commercially reasonable efforts to cooperate and assist in any filings required
to be made with FINRA and in the performance of any due diligence investigation by any underwriter and its counsel (including
any “qualified independent underwriter,” if applicable) that is required to be retained in accordance with the rules
and regulations of FINRA;

 

    	 	13	 

     

    

 

(w)         use
commercially reasonable efforts (i) to cause management of the Company to be made available for participation in reasonable and
customary marketing efforts in connection with an Underwritten Offering, as requested by the lead managing underwriter, (ii) to
permit the underwriters in an Underwritten Offering to perform a customary “due diligence” investigations in connection
with the Underwritten Offering, including meetings with management of the Company that are reasonable and customary, and (iii)
to cause the Company’s independent accountants to participate in customary due diligence sessions with the underwriters
in an Underwritten Offering;

 

(x)          take all other steps reasonably necessary to effect the registration of the Registrable Securities and reasonably cooperate
with the Holders to facilitate the disposition of such Registrable Securities;

 

(y)          shall
issue, upon the written request of any Noteholders at least two Business Days prior to the sale of any Notes covered by the Notes
Resale Registration Statement and only in connection with any valid sale of Notes by such Noteholder pursuant to such registration
statement (and provided that such Noteholder delivers such certificates or opinions reasonably requested by the Company in connection
with such sale), Notes having an aggregate principal amount equal to the aggregate principal amount of Notes surrendered to the
Company by such Noteholder in exchange therefor or being sold by such Noteholder; such Notes to be registered in the name of such
Noteholder or in the name of the purchaser(s) of such Notes, as the case may be, free of any restrictive legends, unless required
by applicable law, and in such denominations as permitted by the Indenture; in return, the Notes held by such Noteholder shall
be surrendered to the Company for cancellation; provided, that nothing herein shall require the Company to deliver certificated
Notes to any beneficial holder of Notes, except as required by the Indenture;

 

(z)          subject
to the Indenture, cooperate with the selling Noteholders, to facilitate the timely preparation and delivery of certificates or
book-entry receipts, as applicable, representing Registrable Notes to be sold and not bearing any restrictive legends unless required
by applicable law; and enable such Registrable Notes or such book-entry receipts, as applicable, to be in such denominations as
permitted by the Indenture and registered in such names as the Noteholder may request in writing at least two Business Days prior
to any sale of Registrable Notes made by such Noteholders provided, that nothing herein shall require the Company to deliver
certificated Notes to any beneficial holder of Notes, except as required by the Indenture; and

 

(aa)        cause
the Indenture to be qualified under the Trust Indenture Act as of, and not later than the effective date of the first Notes Resale
Registration Statement required by this Agreement, and, in connection therewith, cooperate with the Trustee and the Noteholders
of Registrable Notes to effect such changes to the Indenture as may be required for such Indenture to remain so qualified in accordance
with the terms of the Trust Indenture Act; and to execute and use its commercially reasonable efforts to cause the Trustee to
execute, all documents that may be required to effect such changes and all other forms and documents required to be filed with
the Commission to enable such Indenture to be so qualified in a timely manner.

 

    	 	14	 

     

    

 

The Company may require
the Holders to furnish (and each Holder shall furnish) to the Company such information regarding the proposed distribution by such
Holder of such Registrable Securities as the Company may from time to time reasonably request in writing to comply with SEC Guidance
or as shall be required to effect the registration of the Registrable Securities in accordance with SEC Guidance, and no Holder
shall be entitled to be named as a selling stockholder in any Resale Registration Statement and no Holder shall be entitled to
use the Prospectus forming a part thereof if such Holder does not provide such information to the Company. Any Holder that sells
Registrable Securities pursuant to a Registration Statement or as a selling security holder pursuant to an Underwritten Offering
shall be required to be named as a selling stockholder in the related Prospectus and to deliver a Prospectus to purchasers. Each
Holder further agrees to furnish promptly to the Company in writing all information required from time to time to make the information
previously furnished by such Holder not misleading.

 

Each Holder agrees
that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 4(e)(i)(B),
Section 4(e)(i)(C) or Section 4(e)(i)(D) hereof, such Holder will immediately discontinue disposition of Registrable
Securities pursuant to a Resale Registration Statement until such Holder’s receipt of the copies of the supplemented or amended
Prospectus. If so directed by the Company, such Holder will deliver to the Company (at the expense of the Company) all copies in
its possession, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable
Securities current at the time of receipt of such notice.

 

		5.	BLACK-OUT PERIOD

 

(a)          Subject to the provisions of this Section 5 and a good faith determination by the Company that it is in the best
interests of the Company to suspend the use of the Resale Registration Statement, following the effectiveness of a Resale Registration
Statement (and the filings with any international, federal or state securities commissions), the Company, by written notice to
the Review Parties with respect to such Resale Registration Statement and the Holders, may direct the Holders to suspend sales
of the Registrable Securities pursuant to a Resale Registration Statement for such times as the Company reasonably may determine
is necessary and advisable (but in no event (x) on more than two occasions during any rolling 12-month period, (y) for more than
an aggregate of ninety (90) days in any rolling twelve (12) month period or (z) for more than sixty (60) days in any rolling ninety
(90) day period), if (i) the representative of the underwriters of an Underwritten Offering of primary shares by the Company has
advised the Company that the sale of Registrable Securities pursuant to the Resale Registration Statement would have a material
adverse effect on the Company’s primary Underwritten Offering, (ii) the Company shall have determined in good faith that
(A) the offer or sale of any Registrable Securities would materially impede, delay or interfere with any proposed financing, offer
or sale of securities, acquisition, merger, tender offer, business combination or other significant transaction involving the Company,
(B) upon the advice of counsel, the sale of Registrable Securities pursuant to the Resale Registration Statement would require
disclosure of non-public material information not otherwise required to be disclosed under applicable law or SEC Guidance, and
(C) (1) the Company has a bona fide business purpose for preserving the confidentiality of such transaction, (2) disclosure would
have a material adverse effect on the Company or the Company’s ability to consummate such transaction or (3) renders the
Company unable to comply with Commission requirements, in each case under circumstances that would make it impractical or inadvisable
to cause the Resale Registration Statement (or such filings) to become effective or to promptly amend or supplement the Resale
Registration Statement on a post-effective basis, as applicable, or (iii) the Company shall have determined in good faith, upon
the advice of counsel, that it is required by law, rule or regulation or that it is in the best interests of the Company to supplement
the Resale Registration Statement or file a post-effective amendment to the Resale Registration Statement in order to incorporate
information into the Resale Registration Statement for the purpose of (A) including in the Resale Registration Statement any prospectus
required under Section 10(a)(3) of the Securities Act, (B) reflecting in the Prospectus included in the Resale Registration Statement
any facts or events arising after the effective date of the Resale Registration Statement (or of the most recent post-effective
amendment) that, individually or in the aggregate, represent a fundamental change in the information set forth therein or (C) including
in the Prospectus included in the Resale Registration Statement any material information with respect to the plan of distribution
not disclosed in the Resale Registration Statement or any material change to such information. Upon the occurrence of any such
suspension, the Company shall use commercially reasonable efforts to cause the Resale Registration Statement to become effective
or to promptly amend or supplement the Resale Registration Statement on a post-effective basis or to take such other action or
actions as necessary to make resumed use of the Resale Registration Statement compatible with the Company’s best interests,
as applicable, so as to permit the Holders to resume sales of the Registrable Securities as soon as possible.

 

    	 	15	 

     

    

 

(b)          In the case of an event that causes the Company to suspend the use of a Resale Registration Statement (a “Suspension
Event”), the Company shall give written notice (a “Suspension Notice”)
to the Holders and the Review Parties with respect to such Resale Registration Statement to suspend sales of the Registrable Securities
and such notice shall state generally the basis for the notice and that such suspension shall continue only for so long as the
Suspension Event or its effect is continuing and the Company is using commercially reasonable efforts and taking all reasonable
steps to terminate suspension of the use of the Resale Registration Statement as promptly as possible. The Holders shall not effect
any sales of the Registrable Securities pursuant to such Resale Registration Statement (or such filings) at any time after they
have received a Suspension Notice from the Company and prior to receipt of an End of Suspension Notice (as defined below). If so
directed by the Company, each Holder shall deliver to the Company (at the expense of the Company) all copies of the Prospectus
covering the Registrable Securities at the time of receipt of the Suspension Notice. The Holders may recommence effecting sales
of the Registrable Securities pursuant to the Resale Registration Statement (or such filings) following further notice to such
effect (an “End of Suspension Notice”) from the Company, which End
of Suspension Notice shall be given by the Company to the Holders and the Review Parties with respect to such Resale Registration
Statement in the manner described above promptly following the conclusion of any Suspension Event and its effect.

 

(c)          Notwithstanding
any provision herein to the contrary, if the Company shall give a Suspension Notice pursuant to this Section 5, the Company
agrees that it shall extend the period of time during which the applicable Resale Registration Statement shall be maintained effective
pursuant to this Agreement by the number of days during the period from the date of receipt by the Holders of the Suspension Notice
to and including the date of receipt by the Holders of the End of Suspension Notice and shall provide copies of the supplemented
or amended Prospectus necessary to resume sales.

 

    	 	16	 

     

    

 

		6.	INDEMNIFICATION AND CONTRIBUTION

 

(a)          The Company agrees to indemnify and hold harmless (i) each Holder of Registrable Securities and any underwriter (as determined
in the Securities Act) for such Holder (including, if applicable, KBW), (ii) each Person, if any, who controls (within the meaning
of Section 15 of the Securities Act or Section 20(a) of the Exchange Act) any such Person described in clause (i) (any of
the Persons referred to in this clause (ii) being hereinafter referred to as a “Controlling Person”)
and (iii) the respective officers, directors, partners, members, employees, representatives and agents of any such Person or any
Controlling Person (any Person referred to in clause (i), (ii) or (iii) above may hereinafter be referred
to as a “Purchaser Indemnitee”), to the fullest extent lawful, from and against any and all losses, claims,
damages, judgments, actions, out-of-pocket expenses and other liabilities (the “Liabilities”),
including without limitation and as incurred, reimbursement of all reasonable costs of investigating, preparing, pursuing or defending
any suit, action, litigation, Proceeding (including any governmental or regulatory investigation), claim or demand by any governmental
agency or body, commenced or threatened (each, an “Action”), including the reasonable fees and expenses of counsel
to any Purchaser Indemnitee, joint or several, directly or indirectly related to, based upon, arising out of or in connection with,
(A) with respect to any Resale Registration Statement (or any amendment thereto), any untrue statement or alleged untrue statement
of a material fact contained therein or any omission or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statement therein not misleading or (B) with respect to any Prospectus (or any amendment or supplement
thereto), Issuer Free Writing Prospectus (or any amendment or supplement thereto), any preliminary Prospectus or any other document
used to sell the Registrable Securities, any untrue statement or alleged untrue statement of a material fact contained therein
or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading, except insofar as such Liabilities arise
out of or are based upon any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in
conformity with information relating to any Purchaser Indemnitee furnished to the Company in writing by such Purchaser Indemnitee
expressly for use therein. The Company shall notify each Purchaser Indemnitee promptly of the institution, threat or assertion
of any Action of which it shall have become aware in connection with the matters addressed by this Agreement that involves the
Company or a Purchaser Indemnitee. The indemnity provided for herein shall remain in full force and effect regardless of any investigation
made by or on behalf of any Purchaser Indemnitee.

 

(b)          In
connection with any Resale Registration Statement in which a Holder of Registrable Securities is participating, and as a condition
to such participation, such Holder agrees, severally and not jointly, to indemnify and hold harmless the Company and each Person
who controls the Company within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act and the respective
officers, directors, partners, members, employees, representatives and agents of such Person or Controlling Person to the same
extent as the foregoing indemnity from the Company to each Purchaser Indemnitee, but only with reference to Actions in respect
of untrue statements or omissions or alleged untrue statements or omissions made in reliance upon and in strict conformity with
information relating to such Holder furnished to the Company in writing by such Holder expressly for use in such Resale Registration
Statement (or any amendment thereto), Prospectus (or any amendment or supplement thereto), Issuer Free Writing Prospectus (or
any amendment or supplement thereto) or any preliminary Prospectus. The aggregate liability of any Holder pursuant to this paragraph
and the contribution sections of this Section 6 shall in no event exceed the net proceeds received by such Holder from
sales of Registrable Securities pursuant to such Resale Registration Statement (or any amendment thereto), Prospectus (or any
amendment or supplement thereto), Issuer Free Writing Prospectus (or any amendment or supplement thereto) or any preliminary Prospectus.

 

    	 	17	 

     

    

 

(c)           If any Action shall be brought or asserted against any Person in respect of which indemnity may be sought pursuant to paragraph
(a) or (b) above, such Person (the “Indemnified Party”)
shall promptly notify the Person against whom such indemnity may be sought (the “Indemnifying
Party”) in writing of the commencement thereof (but the failure to so notify an Indemnifying Party shall not relieve
it from any liability which it may have under this Section 6, except to the extent the Indemnifying Party is materially
prejudiced by the failure to give notice through the forfeiture of substantive rights or defenses), and the Indemnifying Party,
upon request of the Indemnified Party, shall retain counsel reasonably satisfactory to the Indemnified Party to represent the Indemnified
Party and any others the Indemnifying Party may reasonably designate in such Action and shall pay the reasonable fees and expenses
actually incurred by such counsel related to such Action. Notwithstanding the foregoing, in any such Action, any Indemnified Party
shall have the right to retain its own counsel (including local counsel), but the fees and expenses of such counsel shall be at
the expense of such Indemnified Party, unless (i) the Indemnifying Party and the Indemnified Party shall have mutually agreed in
writing to the contrary, (ii) the Indemnifying Party has failed within a reasonable time after notice of commencement of the action
to assume the defense and employ counsel reasonably satisfactory to the Indemnified Party, (iii) the Indemnifying Party and its
counsel do not, in the sole judgment of the Indemnified Party, actively and vigorously pursue the defense of such action or (iv)
the named parties to any such action (including any impleaded parties) include both such Indemnified Party and Indemnifying Party,
or any Affiliate of the Indemnifying Party, and such Indemnified Party shall have been reasonably advised by counsel that, either
(A) there may be one or more legal defenses available to it which are different from or additional to those available to the Indemnifying
Party or such Affiliate of the Indemnifying Party or (B) a conflict may exist between such Indemnified Party and the Indemnifying
Party or such Affiliate of the Indemnifying Party (in which case the Indemnifying Party shall not have the right to assume nor
direct the defense of such action on behalf of such Indemnified Party). The Indemnifying Party shall not, in connection with any
one such action or separate but substantially similar or related actions in the same jurisdiction arising out of the same general
allegations or circumstances, be liable for the fees and expenses of more than one separate firm of attorneys (in addition to any
local counsel) for all such Indemnified Parties. Such separate firm and local counsel shall be designated in writing by those Indemnified
Parties who sold a majority of the Registrable Securities sold by all such Indemnified Parties in the transaction subject to such
Action. The Indemnifying Party shall not be liable for any settlement of any Action effected without its written consent, which
consent shall not be unreasonably withheld, but if settled with such consent or if there is a final judgment for the plaintiff,
the Indemnifying Party agrees to indemnify any Indemnified Party from and against any loss or liability by reason of such settlement
or judgment. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of
any pending or threatened Action in respect of which any Indemnified Party is or could have been a party and indemnity could have
been sought hereunder by such Indemnified Party, unless such settlement (i) includes an unconditional release of each Indemnified
Party from all liability on claims that are the subject matter of such Action and (ii) does not include a statement as to or an
admission of, fault, culpability or a failure to act by or on behalf of the Indemnified Party.

 

    	 	18	 

     

    

 

(d)          If
the indemnification provided for in paragraphs (a) and (b) of this Section 6 is for any reason held to be
unavailable to an Indemnified Party in respect of any Liabilities referred to therein (other than by reason of the exceptions
provided therein) or is insufficient to hold harmless a party indemnified thereunder, then each Indemnifying Party under such
paragraphs, in lieu of indemnifying such Indemnified Party thereunder, shall contribute to the amount paid or payable by such
Indemnified Party as a result of such Liabilities (i) in such proportion as is appropriate to reflect the relative benefits of
the Indemnified Party, on the one hand, and the Indemnifying Party(ies), on the other hand, in connection with the statements
or omissions that resulted in such Liabilities or (ii) if the allocation provided by clause (i) above is not permitted
by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i)
above but also the relative fault of the Indemnifying Party(ies) and the Indemnified Party, as well as any other relevant
equitable considerations. The relative fault of the Company on the one hand and any Purchaser Indemnitees, on the other hand,
shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or
the omission or alleged omission to state a material fact relates to information supplied by the Company or by such Purchaser
Indemnitees and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such
statement or omission.

 

(e)          The
parties agree that it would not be just and equitable if contribution pursuant to this Section 6 were determined by pro
rata allocation (even if such Indemnified Parties were treated as one entity for such purpose), or by any other method of
allocation that does not take account of the equitable considerations referred to in Section 6(d) above. The amount paid
or payable by an Indemnified Party as a result of any Liabilities referred to in Section 6(d) above shall be deemed to
include, subject to the limitations set forth above, any reasonable legal or other expenses actually incurred by such Indemnified
Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section
6, in no event shall a Purchaser Indemnitee be required to contribute any amount in excess of the amount by which the net
proceeds received by such Purchaser Indemnitee from sales of Registrable Securities exceeds the amount of any damages that such
Purchaser Indemnitee has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged
omission. For purposes of this Section 6, each Person, if any, who controls (within the meaning of Section 15 of the Securities
Act or Section 20(a) of the Exchange Act) a Purchaser Indemnitee shall have the same rights to contribution as such Purchaser
Indemnitee, and each Person, if any, who controls (within the meaning of Section 15 of the Securities Act or Section 20(a) of
the Exchange Act) the Company, and each officer, director, partner, employee, representative, agent or manager of the Company
shall have the same rights to contribution as the Company. Any party entitled to contribution will, promptly after receipt of
notice of commencement of any Action against such party in respect of which a claim for contribution may be made against another
party or parties, notify each party or parties from whom contribution may be sought, but the omission to so notify such party
or parties shall not relieve the party or parties from whom contribution may be sought from any obligation it or they may have
under this Section 6 or otherwise, except to the extent that any party is materially prejudiced by the failure to give
notice through the forfeiture of substantive rights or defenses. No Person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation.

 

    	 	19	 

     

    

 

(f)          The
indemnity and contribution agreements contained in this Section 6 will be in addition to any liability which the Indemnifying
Parties may otherwise have to the Indemnified Parties referred to above. The Purchaser Indemnitee’s obligations to contribute
pursuant to this Section 6 are several in proportion to the respective number of Registrable Securities sold by each of
the Purchaser Indemnitees hereunder and not joint.

 

		7.	MARKET STAND-OFF AGREEMENTS

 

(a)          Each
Holder owning Registrable Securities agrees that, in connection with an Underwritten Offering, except for sales in such Underwritten
Offering, it will not effect any public sale or distribution (including sales pursuant to Rule 144 and pursuant to derivative
transactions) of Common Stock or Notes in connection with an Underwritten Offering, during (A) the period commencing on the effective
date of, and ending on the 60th day (180th day, in the case of an IPO) following, the effectiveness of the Resale Registration
Statement covering such Registrable Securities in connection with such Underwritten Offering or (B) such shorter period as the
underwriters with respect to such Underwritten Offering may require; provided that the duration of the restrictions described
in this clause (i) shall be no longer than the duration of the shortest restriction generally imposed by the underwriters on the
chief executive officer and the chief financial officer of the Company (or Persons in substantially equivalent positions) in connection
with such Underwritten Offering.

 

(b)          In connection with an Underwritten Offering, except for sales in such Underwritten Offering, the Company agrees that it
shall (and shall use commercially reasonable efforts to cause its executive officers and directors to agree that they shall):

 

(i)           not
effect any public sale or distribution of Common Stock or securities convertible into or exercisable for Common Stock or Notes
or securities convertible into or exercisable for Notes (except pursuant to registrations on Form S-8 or Form N-14 or any similar
or successor form under the Securities Act) during (A) the period commencing on the seventh day prior to the expected time of
circulation of a preliminary prospectus with respect to such Underwritten Offering (or, if no preliminary prospectus is circulated,
the commencement of any marketing efforts with respect to such Underwritten Offering), and ending on the 60th day (180th day,
in the case of an IPO) following the effectiveness of the Resale Registration Statement covering such Registrable Securities in
connection with such Underwritten Offering or (B) such shorter period as the underwriters with respect to such Underwritten Offering
may require; and

 

(ii)           to
the extent requested by the underwriters participating in such Underwritten Offering, agree to include provisions in the relevant
underwriting or other similar agreement giving effect to the restrictions described in clause (i) above, in form and substance
reasonably acceptable to such underwriters.

 

(c)         The
periods set forth in this Section 7 shall be extended to the extent necessary to comply with SEC Guidance, FINRA rules
or other applicable laws, rules or regulations.

 

    	 	20	 

     

    

 

(d)          the
Holders shall be allowed any concession or proportionate release allowed to any officer or director that entered into agreements
that are no less restrictive (with such proportion being determined by dividing the number of shares being released with respect
to such officer or director by the total number of issued and outstanding shares held by such officer or director); provided,
however, that nothing in this Section 7(d) shall be construed as a right to proportionate release for the executive
officers and directors of the Company upon the expiration of the period applicable to all Holders other than the executive officers
and directors of the Company.

 

(e)          In
order to enforce the foregoing covenant, the Company shall have the right to place restrictive legends on the certificates representing
the securities as subject to this Section 7 and to impose stop transfer instructions with respect to the Registrable Securities
and such other securities of each Holder (and the securities of every other Person subject to the foregoing restriction) until
the end of such period.

 

		8.	LIMITATIONS ON SUBSEQUENT REGISTRATION RIGHTS

 

From and after the
date of this Agreement, the Company shall not, without the prior written consent of Holders beneficially owning not less than a
majority of the then outstanding Registrable Securities enter into any agreement with any holder or prospective holder of any securities
of the Company that would allow such holder or prospective holder to (a) include such securities in any Resale Registration Statement
filed pursuant to the terms hereof, unless, under the terms of such agreement, such holder or prospective holder may include such
securities in any such registration only to the extent that the inclusion of its securities will not reduce the amount of Registrable
Securities of the Holders that is included or (b) have its securities registered on a registration statement that could be
declared effective prior to, or within one hundred eighty (180) days of, the effective date of any registration statement filed
pursuant to this Agreement.

 

		9.	TERMINATION OF THE COMPANY’S OBLIGATION

 

The Company shall have
no obligation pursuant to this Agreement with respect to any Registrable Securities proposed to be sold by a Holder in a registration
pursuant to this Agreement if, (a) in the opinion of counsel to the Company, all such Registrable Securities proposed to be sold
by a Holder may be sold in a single transaction without registration under the Securities Act pursuant to Rule 144, (b) the Company
has become subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act for a period of at least ninety (90)
days and is current in the filing of all such required reports and (c) such Registrable Securities have been listed for trading
on a National Securities Exchange.

 

		10.	MISCELLANEOUS

 

(a)          Company
Charter. The Company hereby covenants and agrees to take all necessary action to ensure that the Company Charter and Bylaws
contain all provisions necessary and sufficient to give effect to the provisions of this Agreement.

 

(b)          Remedies. In the event of a breach by the Company of any of its obligations under this Agreement, KBW and
each Holder, in addition to being entitled to exercise all rights provided herein (or, in the case of KBW, in the Purchase/Placement
Agreement) or granted by law, including the rights granted in Section 2(d) hereof and recovery of damages, will be entitled
to specific performance of its rights under this Agreement. Subject to Section 6, the Company agrees that monetary damages
would not be adequate compensation for any loss incurred by reason of a breach by it of any of the provisions of this Agreement
and hereby further agrees that, in the event of any action for specific performance in respect of such breach, it shall waive the
defense that a remedy at law would be adequate.

 

    	 	21	 

     

    

 

(c)          Amendments
and Waivers. Except as set forth otherwise herein, the provisions of this Agreement, including the provisions of this
sentence, may not be amended, modified or supplemented, and waivers or consents to or departures from the provisions hereof may
not be given, without (i) the written consent of the Company and Holders beneficially owning not less than a majority of the then
outstanding Registrable Securities or (ii) in the case of Section 2, the written consent of the Company and the Holders
beneficially owning not less than a majority of the then outstanding Registrable Securities; provided, however, that any
amendments, modifications or supplements to, or any waivers or consents to departures from, the provisions of Section 7
hereof that would have the effect of extending the sixty (60) or one hundred eighty (180) day periods referenced therein shall
be approved by, and shall only be applicable to, those Holders who provide written consent to such extension to the Company. No
amendment shall be deemed effective unless it applies uniformly to all Holders. Notwithstanding the foregoing, a waiver or consent
to or departure from the provisions hereof with respect to a matter that relates exclusively to the rights of a Holder whose securities
are being sold pursuant to a Resale Registration Statement and that does not directly or indirectly affect, impair, limit or compromise
the rights of other Holders may be given by such Holder; provided that the provisions of this sentence may not be amended,
modified or supplemented except in accordance with the provisions of the first and second sentences of this paragraph.

 

(d)         Notices. All notices and other communications provided for or permitted hereunder shall be made in writing
and delivered by facsimile (with receipt confirmed), e-mail, overnight courier, registered or certified mail, return receipt requested:

 

(i)           if
to a Shareholder, at the most current address given by the transfer agent and registrar of the shares of Common Stock to the Company;
and

 

(ii)           if
to a Noteholder, at the most current address given by the trustee to the Company; and

 

(iii)          if
to the Company, shall be sufficient in all respects if delivered to the Company at the offices of the Company at 3075 West Ray
Road, Suite 525, Chandler, Arizona 85226, Attention: Steven Brown, with a copy to Eversheds Sutherland (US) LLP, 700 6th
St NW, Suite 700, Washington, DC 20001, Attention: Cynthia M. Krus; and

 

(iv)         if to KBW, shall be sufficient in all respects if delivered or sent to Keefe, Bruyette & Woods, Inc., 787 7th Avenue,
5th Floor, New York, New York 10019, Attention: General Counsel (facsimile: 212-541-6668); with a copy to Dechert LLP, 100 Oliver
St., Boston, MA 02110, Attention: Thomas J. Friedmann (facsimile: (617) 275-8389).

 

    	 	22	 

     

    

 

(e)          Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the
parties hereto, including, without limitation and without the need for an express assignment or assumption, subsequent Holders.
The Company agrees that the Holders shall be third party beneficiaries to the agreements made hereunder by the parties hereto,
and each Holder shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or
advisable to protect its rights hereunder.

 

(f)           Counterparts.
This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts (including by
PDF attachment), each of which when so executed shall be deemed to be an original and all of which taken together shall constitute
one and the same agreement.

 

(g)          Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise
affect the meaning hereof.

 

(h)          Governing
Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH OF THE PARTIES
HERETO AND EACH HOLDER HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY STATE COURT IN THE STATE OF NEW YORK OR ANY FEDERAL
COURT SITTING IN NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, AND IRREVOCABLY
ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. EACH
OF THE PARTIES HERETO AND EACH HOLDER IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW,
ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY
SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT
FORUM. THE PARTIES AND EACH HOLDER WAIVE THE RIGHT TO A TRIAL BY JURY IN ANY DISPUTE IN CONNECTION WITH THIS AGREEMENT.

 

(i)           Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid,
illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain
in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties hereto
that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may
be hereafter declared invalid, illegal, void or unenforceable.

 

(j)           Entire
Agreement. This Agreement, together with the Purchase/Placement Agreement, is intended by the parties hereto as a final
expression of their agreement, and is intended to be a complete and exclusive statement of the agreement and understanding of
the parties hereto in respect of the subject matter contained herein and therein.

 

    	 	23	 

     

    

 

(k)          Registrable
Securities Held by the Company or its Affiliates. Whenever the consent or approval of Holders of a specified percentage
of Registrable Securities is required hereunder, Registrable Securities held by the Company, its Affiliates, its subsidiaries
or members of management of the Company and the Board of Directors shall not be counted in determining whether such consent or
approval was given by the Holders of such required percentage.

 

(l)           Adjustment
for Stock Splits, etc. Wherever in this Agreement there is a reference to a specific number of shares, then upon the occurrence
of any subdivision, combination or stock dividend of such shares, the specific number of shares so referenced in this Agreement
shall automatically be proportionally adjusted to reflect the effect on the outstanding shares of such class or series of stock
by such subdivision, combination or stock dividend.

 

(m)         Survival.
This Agreement is intended to survive the consummation of the transactions contemplated by the Purchase/Placement Agreement. The
indemnification and contribution obligations under Section 6 of this Agreement shall survive the termination of the Company’s
obligations under Section 2 of this Agreement.

 

(n)         Attorneys’
Fees. In any action or Proceeding brought to enforce any provision of this Agreement, or where any provision hereof is
validly asserted as a defense, the prevailing party, as determined by the court, shall be entitled to recover its reasonable attorneys’
fees in addition to any other available remedy.

 

(o)          Information. The Company shall use commercially reasonable efforts to ensure that a Holder may access information,
that will be as current as reasonably practicable for the Company, regarding the number and type of such Registrable Securities
held by, issuable to, and issued to such Holder (the “Information”). The Company shall ensure that any such
Holder of such Registrable Securities will be capable of obtaining certification of Information pertaining to such Holder’s
beneficial ownership of Registrable Securities upon written request by such Holder to the Company.

  

[Signature page follows]

 

    	 	24	 

     

    

 

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

 

	 	ISSUER:
	 	 
	 	TRINITY CAPITAL INC.
	 	 
	 	 
	 	By:	  Steven L. Brown
	 	 	  Name:	 Steven L. Brown
	 	 	  Title:	Chairman and Chief Executive Officer

 

    

     

    

 

	 	KEEFE, BRUYETTE &
WOODS, INC.
	 	 
	 	 
	 	By:	  Allen G. Laufenberg
	 	 	  Name:	 Allen G. Laufenberg
	 	 	  Title:	Managing Director

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