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EXHIBIT 4.2    
    

        UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY
TO A NOMINEE OF THE DEPOSITORY, OR BY ANY SUCH NOMINEE OF THE DEPOSITORY, OR BY THE DEPOSITORY OR NOMINEE OF SUCH SUCCESSOR DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF
SUCH SUCCESSOR DEPOSITORY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
("DTC"), TO AN ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON 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.

        TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR'S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN SECTION 2.17 OF THE INDENTURE REFERRED TO
HEREIN.

THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), AND THIS SECURITY AND THE COMMON STOCK ISSUABLE UPON CONVERSION HEREOF MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION
THEREFROM. EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE SELLER OF THIS SECURITY MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE
144A THEREUNDER.

THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY AND THE COMMON STOCK ISSUABLE UPON CONVERSION HEREOF MAY BE OFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I) TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (II) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (III) PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (III) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND
(B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THE SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE.

THIS SECURITY AND ANY RELATED DOCUMENTATION MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME TO MODIFY THE RESTRICTIONS ON AND PROCEDURES FOR RESALES AND OTHER TRANSFERS OF
THIS SECURITY TO REFLECT ANY CHANGE IN APPLICABLE LAW OR REGULATION (OR THE INTERPRETATION THEREOF) OR IN PRACTICES RELATING TO THE RESALE OR TRANSFER OF RESTRICTED SECURITIES GENERALLY. THE HOLDER OF
THIS SECURITY SHALL BE DEEMED BY THE ACCEPTANCE OF THIS SECURITY TO HAVE AGREED TO ANY SUCH AMENDMENT OR SUPPLEMENT.

THE HOLDER OF THIS SECURITY IS SUBJECT TO, AND ENTITLED TO THE BENEFITS OF, A REGISTRATION RIGHTS AGREEMENT, DATED AS OF JUNE 8, 2004, ENTERED INTO BY THE COMPANY FOR THE
BENEFIT OF CERTAIN HOLDERS OF SECURITIES FROM TIME TO TIME.

	No.	 	CUSIP No.:

BEAZER HOMES USA, INC.

a Delaware corporation  

promises
to pay to CEDE & CO. or registered assigns the principal sum of                  MILLION Dollars ($      ,000,000) on
June 15, 2024. 

45/8%
Convertible Senior Notes due 2024

Interest Payment Dates: June 15 and December 15

Record Dates: June 1 and December 1 

Dated:
June      , 2004 

[The Remainder of This Page Has Intentionally Been Left Blank.]

        IN
WITNESS WHEREOF, the Company has caused this Security to be executed as of the date first above written. 

	

 	
 	

BEAZER HOMES USA, INC.
	

 	
 	

By	
 	

	 	 	 	 	Title:

CERTIFICATE OF AUTHENTICATION  

SUNTRUST
BANK, as Trustee, certifies that this is one of the Securities referred to in the within mentioned Indenture. 

	

By:	
 	

	
 	

 
	 	 	Authorized Signatory	 	 

BEAZER HOMES USA, INC.  

 45/8% Senior Convertible Notes due 2024  

1.    Interest.    

        BEAZER
HOMES USA, INC. (the "Company"), a Delaware corporation, promises to pay interest on the principal amount of this Security
at the rate per annum shown above. The Company will pay interest semiannually on June 15 and December 15 of each year until the principal is paid or made available for payment,
commencing on December 15, 2004, to Holders at the close of business on the immediately preceding June 1 or December 1, as the case may be. This Security shall also bear
Contingent Interest in certain circumstances as specified in paragraph 6 below. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

2.    Method of Payment.    

        The
Company will pay interest on the Securities (except defaulted interest, if any, which will be paid on such special payment date to Holders of record on such special record date as
may be fixed by the Company) to the persons who arc registered Holders of Securities at the close of business on the June 1 and December 1 immediately preceding the interest payment
date. Holders must surrender Securities to a Paying Agent to collect principal payments. The Company will pay principal and interest in money of the United States that at the time of payment is legal
tender for payment of public and private debts. 

3.    Paying Agent. Registrar and Conversion Agent.    

        Initially,
SunTrust Bank (the "Trustee") will act as Paying Agent, Registrar and Conversion Agent. The Company may change or appoint any
Paying Agent, Conversion Agent, Registrar or co-Registrar without notice. The Company or any of its Subsidiaries may act as Paying Agent, Conversion Agent or Registrar or
co-Registrar. 

4.    Indenture.    

        The
Company issued the Securities under an Indenture dated as of June 8, 2004 ("Indenture") among the Company, the Subsidiary
Guarantors and the Trustee. The terms of the Securities and the Subsidiary Guarantees include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act
of 1939 ("TIA") as in effect on the date of the Indenture. The Securities and the Subsidiary Guarantees are subject to all such terms, and
Securityholders are referred to the Indenture and the TIA for a statement of them. 

        The
Securities are general unsecured and unsubordinated obligations of the Company limited to $180,000,000 aggregate principal amount. 

        The
Company will furnish to any Securityholder upon written request and without charge a copy of the Indenture. Requests may be made to: Beazer Homes USA, Inc., 1000 Abernathy
Road, Suite 1200, Atlanta, Georgia 30328, Attention: Investor Relations. 

5.    Optional Redemption.    

        The
Company may redeem all or any portion of the Securities at any time and from time to time on or after June 15, 2009 and prior to maturity at the following redemption prices
(expressed in percentages of the principal amount thereof) together, in each case, with accrued and unpaid interest to the date fixed for redemption if redeemed during the 12-month period
beginning on June 15 of each year indicated below: 

	Year
 
	 	Percentage
	 
	2009	 	101.321	%
	2010	 	100.661	%
	2011 and thereafter	 	100.000	%

        In
the event less than all of the Securities are to be redeemed at any time, selection of the Securities to be redeemed will be made by the Trustee from among the outstanding Securities
on a pro rata basis, by lot or by any other method permitted by the Indenture. Notice of redemption will be mailed at least 30 days but not more
than 60 days before the redemption date to each Holder of Securities to be redeemed at his registered address. On and after the redemption date, interest will cease to accrue on Securities or
portions of them called for redemption. 

6.    Contingent Interest.    

        The
Company will pay Contingent Interest to the Holders of the Securities in respect of any six-month interest period from June 15 to December 14 or
December 15 to June 14 commencing on or after June 15, 2009 for which the average Trading Price of a Security for the applicable five Trading Day reference period equals or
exceeds 120% of $1,000 per $1,000 principal amount of Securities as of the day immediately preceding the first day of the applicable six-month interest period. The
"five Trading Day reference period" means the five Trading Days ending on the second Trading Day immediately preceding the relevant
six-month interest period. For any six-month interest period in respect of which Contingent Interest is payable, the Contingent Interest payable on each $1,000 principal amount
of Securities shall equal 0.25% of the average Trading Price for the Securities per $1,000 principal amount of Securities during the applicable five Trading Day reference period. 

        The
record dates and payment dates for Contingent Interest, if any, will be the same as the record dates and interest payment dates for the semi-annual interest payments on
the Securities described in paragraph 1 of this Security. 

        Upon
determination that Holders will be entitled to receive Contingent Interest which may become payable, the Company shall notify the Holders. In connection with providing such notice,
the Company will issue a press release and publish a notice containing information regarding the Contingent Interest determination in a newspaper of general circulation in The City of New York or
publish such information on the Company's then existing Web site or through such other public medium as the Company shall determine. 

7.    Purchase by the Company at the Option of the Holder; Purchase at the Option of the Holder Upon a Fundamental Change.    

        (a)   Subject
to the terms and conditions of the Indenture, a Holder shall have the option to require the Company to purchase the Securities held by such Holder on
June 15, 2011, June 15, 2014 and June 15, 2019 (each a "Purchase Date") at a purchase price (the "Purchase
Price") equal to 100% of the principal amount of the Securities to be purchased plus any accrued and unpaid interest (including Contingent Interest and Additional Amounts, if
any) to such Purchase Date, upon delivery of a Purchase Notice containing the information set forth in the Indenture, from the opening of business on the date that is 20 Business Days prior to such
Purchase Date until the close of business on the Business Day prior to such Purchase Date and upon delivery of the Securities to the Paying Agent by the Holder as set forth in the Indenture. The
Company will pay the Purchase Price in cash. 

        Securities
in denominations larger than $1,000 principal amount may be purchased in part, but only in integral multiples of $1,000 principal amount. 

        (b)   If
a Fundamental Change shall occur at any time prior to the Stated Maturity of the Securities, each Holder shall have the right, at such Holder's option and subject to
the terms and conditions of the Indenture, to require the Company to purchase any or all of such Holder's Securities or any portion of the principal amount thereof that is equal to $1,000 or an
integral multiple of $1,000 on the day that is 35 days after the date of the Company Notice of the occurrence of the Fundamental Change (subject to extension to comply with applicable law) for
a Fundamental Change Purchase Price equal to 100% of the principal amount of Securities purchased plus accrued and unpaid interest (including Contingent Interest and Additional Amounts, if any) to the
Fundamental Change Purchase Date, which Fundamental Change Purchase Price shall be paid by the Company in cash, as set forth in the Indenture. 

        Holders
have the right to withdraw any Purchase Notice or Fundamental Change Purchase Notice, as the case may be, by delivery to the Paying Agent of a written notice of withdrawal in
accordance with the provisions of the Indenture. 

        If
cash sufficient to pay a Fundamental Change Purchase Price or Purchase Price, as the case may be, of all Securities or portions thereof to be purchased as of the Purchase Date or the
Fundamental Change Purchase Date, as the case may be, is deposited with the Paying Agent on the Business Day following the Purchase Date or the Fundamental Change Purchase Date, as the case may be,
interest (including Contingent Interest and Additional Amounts, if any) shall cease to accrue on such Securities (or portions thereof) on and after such date, and the Holder thereof shall have no
other rights as such (other than the right to receive the Purchase Price or Fundamental Change Purchase Price, as the case may be, upon surrender of such Security). 

8.    Conversion.    

        Subject
to the procedures set forth in the Indenture, a Holder may convert Securities into Common Stock on or before the close of business on June 15, 2024 during the periods and
upon satisfaction of at least one of the conditions set forth below: 

        (a)   in
any calendar quarter (and only during such calendar quarter) if the Last Reported Sale Price for Common Stock for at least 20 Trading Days during the period of 30
consecutive Trading Days ending on the last Trading Day of the previous calendar quarter is greater than or equal to 120% of the Conversion Price per share of Common Stock on such last Trading Day; 

        (b)   during
any period in which either (A) the credit rating assigned to the Securities by Moody's Investors Service, Inc. is lower than Bl or (B) the
credit rating assigned to the Securities by Standard & Poors Rating Services is lower than B+; 

        (c)   during
any period in which the Securities no longer are assigned credit ratings by Moody's Investors Services, Inc. or Standard & Poor's Ratings Services
or their respective successors; 

        (d)   in
the event that the Company calls the Securities for redemption, at any time prior to the close of business on the second Business Day immediately preceding the
redemption date; or 

        (e)   the
Company becomes a patty to a consolidation, merger or binding share exchange pursuant to which the Common Stock would be converted into cash or property (other than
securities), in which case a Holder may surrender Securities for conversion at any time from and after the date which is 15 days prior to the anticipated effective date for the transaction
until 15 days after the actual effective date of such transaction; or 

        (f)    the
Company elects to (i) distribute to all holders of Common Stock assets, debt securities or rights to purchase securities of the Company, which distribution
has a per share value as determined by the Board of Directors exceeding 5% of the Last Reported Sale Price of a share of Common Stock on the Trading Day immediately preceding the declaration date for
such distribution, or (ii) distribute to all holders of Common Stock rights entitling them to purchase, for a period expiring within 60 days after the date of such distribution, shares
of Common Stock at less than the Last Reported Sale Price of Common Stock on the Trading Day immediately preceding the declaration date of the distribution. In the case of the foregoing clauses
(i) and (ii), the Company must notify the Holders at least 20 Business Days immediately prior to the ex date for such distribution. Once the Company has given such notice, Holders may surrender
their Securities for conversion at any time thereafter until the earlier of the close of business on the Business Day immediately prior to the ex date or the Company's announcement that such
distribution will not take place; provided, however, that a Holder may not exercise this right to convert if the Holder may participate in the
distribution without conversion; as used in this clause (f) the term "ex date," means the first date on which the Common Stock trades, regular
way, on the relevant exchange or in the relevant market from which the Last Reported Sale Price was obtained without the right to receive such distribution; or 

        (g)   during
the five Business Day period after any five consecutive Trading Day period in which the trading price (as defined in Section 10.06(a)(7) of the Indenture)
of the Securities for each day of such five Trading Day period was less than 98% of the product of the Last Reported Sale Price and the Conversion Rate as of each such Trading Day, in which case
Securities surrendered for conversion into shares of Common Stock pursuant to this clause (g) may be surrendered in integral multiples of $1,000 Principal Amount at any time during such five
Business Day period; provided that if, on the date of any
conversion pursuant to this clause (g), the Last Reported Sale Price of the Common Stock is between 100% and 120% of the Conversion Price as of such date, the Holders of Securities surrendered
for conversion shall receive, in lieu of Common Stock based on the Conversion Rate, cash or Common Stock or a combination of cash and Common Stock, at the Company's option, with a value equal to the
principal amount of Securities plus accrued and unpaid interest, if any ("Principal Value Conversion"). 

        If
a Holder surrenders its Securities for a Principal Value Conversion, the Company shall notify such Holder by the second Trading Day following the Conversion Date whether the Company
will pay such Holder all or a portion of the principal amount plus accrued and unpaid interest, if any, in cash, Common Stock or a combination of cash and Common Stock, and in what percentage. Any
Common Stock delivered upon a Principal Value Conversion will be valued at the average of the Last Reported Sale Prices per share of Common Stock over the five-Trading Day period starting
the third Trading Day following the Conversion Date (the "Applicable Trading Price"). The Company will pay such Holder any portion of the principal
amount plus accrued and unpaid interest, if any, to be paid in cash and deliver Common Stock with respect to any portion of the principal amount plus accrued and unpaid interest, if any, to be paid in
Common Stock, no later than the fifth Business Day following the determination of the Applicable Stock Price. 

        The
initial Conversion Rate is 6.48 shares of Common Stock per $1,000 principal amount, subject to adjustment in certain events described in the Indenture, The Company shall deliver cash
or a check in lieu of any fractional share of Common Stock. 

        Holders
of Securities at the close of business on a record date will receive payment of interest, (including Contingent Interest and Additional Amounts, if any,) payable on the
corresponding interest payment date notwithstanding the conversion of such Securities at any time after the close of business on such record date. Securities surrendered for conversion by a Holder
during the period from the close of business on any record date to the opening of business on the immediately following interest payment date must be accompanied by payment of an amount equal to the
interest, including Contingent Interest and Additional Amounts, if any, that the Holder is to receive on the Securities; provided, however, that no such
payment need be made if (1) the Company has specified a redemption date that is after a record date and on or prior to the immediately following interest payment date, (2) the Company
has specified a Fundamental Change Purchase Date following a Fundamental Change that is during such period, or (3) any overdue interest (including overdue Contingent Interest and Additional
Amounts, if any) exists at the time of conversion with respect to such Securities to the extent of such overdue interest. Notwithstanding the conversion of any Securities, the Holders of the
Securities and any Common Stock issuable upon conversion thereof will continue to be entitled to receive Additional Amounts in accordance with the Registration Rights Agreement. 

        To
convert the Securities a Holder must (1) complete and manually sign the irrevocable conversion notice on the back of the Securities (or complete and manually sign a facsimile
of such notice) and deliver such notice to the Conversion Agent at the office maintained by the Conversion Agent for such purpose, (2) surrender the Securities to the Conversion Agent, (3)
furnish appropriate endorsements and transfer documents if required by the Conversion Agent, the Company or the Trustee and (4) pay any transfer or similar tax, if required. 

        A
Holder may convert a portion of the Securities only if the principal amount of such portion is $1,000 or a multiple of $1,000. No payment or adjustment shall be made for dividends on
the Common Stock except as provided in the Indenture. 

9.    Registration Rights Agreement.    

        The
Holder of this Security is entitled to the benefits of a Registration Rights Agreement, dated as of June 8, 2004, among the Company, the Subsidiary Guarantors and the Initial
Purchasers named therein (as such may be amended from time to time, the "Registration Rights Agreement"). Capitalized terms used in this subsection but
not defined herein have the meanings assigned to them in the Registration Rights Agreement. 

        If
(i) the Shelf Registration Statement is not filed with the Commission on or before the 90th calendar day following the Issue Date; (ii) the Shelf Registration Statement
is not declared effective on or before the 180th calendar day following the Issue Date; (iii) after the effectiveness of the Shelf Registration Statement, the Company fails to file a
prospectus supplement or report with the SEC within five business days (or, if a posteffective amendment is required, within 10 business days) after a Holder provides the Company with the required
selling security-holder questionnaire, if such filing is necessary to enable the Holder to deliver the prospectus to purchasers of such Holder's Registrable Securities; (iv) the Registration
Statement ceases to be effective or fails to be usable without being succeeded within 30 days by a post-effective amendment, prospectus supplement or report filed with the SEC
pursuant to the Securities Exchange Act of 1934 that cures the failure of the Registration Statement to be effective or usable; or (v) the aggregate duration of any Suspension Periods exceeds
the limits set forth in the Registration Rights Agreement (each such event referred to in clauses (i) through (v), a "Registration Default"), the
interest rate borne by the Securities will be increased by 0.25% of the aggregate principal amount of Securities per annum for the first 90 days following such Registration Default, increasing
by 0.25% per annum at the beginning of each subsequent 90-day period; provided that such Additional Amounts (as defined below) shall not
exceed 0.5% per annum. The increase in the interest rate on the Securities is referred to as "Additional Amounts." Such interest is payable in addition
to any other interest payable from time to time with respect to the Securities in cash on each interest payment date to the Holders of record for such interest payment date. 

10.    Denominations, Transfer, Exchange.    

        The
Securities are in registered form without coupons in denominations of $1,000 and integral multiples of $1,000, A Holder may transfer or exchange Securities by presentation of such
Securities to the Registrar or a co-Registrar with a request to register the transfer or to exchange them for an equal principal amount of Securities of other denominations. The Registrar
may require a
Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not transfer or
exchange any Security selected for redemption, except the unredeemed part thereof if the Security is redeemed in part, or transfer or exchange any Securities for a period of 15 days before a
selection of Securities to be redeemed. 

11.    Persons Deemed Owners.    

        The
registered Holder of this Security shall be treated as the owner of it for all purposes. 

12.    Unclaimed Money.    

        If
money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent will pay the money back to the Company at its request. After that, Holders
entitled to the money must look to the Company for payment unless an abandoned property law designates another Person. 

13.    Amendment, Supplement, Waiver.    

        Subject
to certain exceptions, the Indenture or the Securities may be amended or supplemented with the consent (which may include consents obtained in connection with a tender offer or
exchange offer for Securities) of the Holders of at least a majority in principal amount of the Securities then outstanding, and any existing Default or Event of Default (other than any continuing
Default or Event of Default in the payment of interest on or the principal of the Securities) under, or compliance with any provision of, the Indenture may be waived with the consent (which may
include consents obtained 

in
connection with a tender offer or exchange offer for Securities) of the Holders of a majority in principal amount of the Securities then out-standing. Without the consent of any Holder,
the Company, the Subsidiary Guarantors and the Trustee may amend the Indenture or the Securities or waive any provision of the Indenture to cure any ambiguity, defect or inconsistency, to comply with
Article Five of the Indenture; to provide for uncertificated Securities in addition to certificated Securities; to make any change that does not adversely affect the legal rights under the Indenture
of any Holder; to comply with or qualify the Indenture under the Trust Indenture Act; or to reflect a Subsidiary to Guarantor ceasing to be liable on the Subsidiary Guarantees because it is no longer
a Subsidiary of the Company. 

14.    Successor Corporation.    

        When
a successor corporation assumes all the obligations of its predecessor under the Securities and the indenture, the predecessor corporation will be released from those obligations. 

15.    Trustee Dealings With Company.    

        SunTrust
Bank, the Trustee under the Indenture, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its affiliates,
and may otherwise deal with the Company or its affiliates, as if it were not Trustee. 

16.    No Recourse Against Others.    

        A
director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any
claim based on, in respect of or by reason of, such obligations or their creation. Each Securityholder by accepting a Security waives and releases all such liability. The waiver and release are part
of the consideration for the issue of the Securities. 

17.    No Defeasance; Discharge of Indenture.    

        The
Indenture does not contain provisions pertaining to defeasance. 

18.    Authentication.    

        This
Security shall not be valid until the Trustee signs the certificate of authentication on the other side of this Security. 

19.    Abbreviations.    

        Customary
abbreviations may be used in the name of a Securityholder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants
with right of survivorship and not as tenants in common), CUST (= custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

ASSIGNMENT FORM  

        If you the Holder want to assign this Security, fill in the form below: 

        I
or we assign and transfer this Security to 

(Insert
assignee's social security or tax ID number) 

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

and
irrevocably appoint 

agent
to transfer this Security 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 other side of this Security)

SIGNATURE GUARANTEE 

        Signatures
must be guaranteed by an "eligible guarantor institution" meeting the requirements of the Registrar, which requirements include membership or participation in the Security
Transfer Agent Medallion Program ("STAMP") or such other "signature guarantee program" as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

        In
connection with any transfer of this Security occurring prior to the date which is the earlier of (i) the date of the declaration by the Commission of the effectiveness of a
registration statement under the Securities Act of 1933, as amended (the "Securities Act") covering resales of this Security (which effectiveness shall
not have been suspended or terminated at the date of the transfer) and (ii) two 

years
from the Issue Date, the undersigned confirms that it has not utilized any general solicitation or general advertising in connection with the transfer: 

[Check One] 

	(1)	—	 	to the Company or a subsidiary thereof; or
	(2)	—	 	pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended; or
	(3)	—	 	pursuant to the exemption from registration provided by Rule 144 under the Securities Act of 1933, as amended; or
	(4)	—	 	pursuant to an effective registration statement under the Securities Act of 1933, as amended; or
	(5)	—	 	pursuant to another available exemption from the registration requirements of the Securities Act of 1933, as amended;

and
unless the box below is checked, the undersigned confirms that such Security is not being transferred to an "affiliate" of the Company as defined in Rule 144 under the Securities Act of
1933, as amended (an "Affiliate"): 

        o
The transferee is an Affiliate of the Company. 

        Unless one of the items 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 item (3) or (5) is checked, the Company or the Trustee may require, prior to
registering any such transfer of the Securities, in their sole discretion, such written legal opinions, certifications and other information as the Trustee or the Company has reasonably requested 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. 

        If
none of the foregoing items are checked, the Trustee or Registrar shall not be obligated to register this Security in the name of any Person other than the Holder hereof unless and
until the conditions to any such transfer of registration set forth herein and in Section 2.14 of the Indenture shall have been satisfied. 

	

Dated:	
 	

	
 	

Signed:	
 	

	 	 	 	 	(Sign exactly as name appears on the other side of this Security)
	

Signature Subsidiary Guarantee:	
 	

(SIGNATURE MUST BE GUARANTEED) 

SIGNATURE
GUARANTEE 

        Signatures
must be guaranteed by an "eligible guarantor institution" meeting the requirements of the Registrar, which requirements include membership or participation in the Security
Transfer Agent Medallion Program ("STAMP") or such other "signature guarantee program" as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

TO BE COMPLETED BY PURCHASER IF (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:	
 	

	
 	

	 	 	 	 	NOTICE: To be executed by an executive officer

GUARANTEE 

        Each
of Beazer Allied Companies Holdings, Inc., a Delaware corporation, Beazer Homes Corp., a Tennessee corporation, Beazer/Squires Realty, Inc., a North Carolina
corporation, Beazer Homes Sales Arizona Inc., a Delaware corporation, Beazer Realty Corp., a Georgia corporation, Beazer Mortgage Corporation, a Delaware corporation, Beazer Homes Holdings
Corp., a Delaware corporation, Beazer Homes Texas Holdings, Inc., a Delaware corporation, Beazer Homes Texas, L.P., a Delaware limited partnership, April Corporation, a Colorado corporation,
Beazer SPE, LLC, a Georgia limited liability company, Beazer Homes Investment Corp., a Delaware corporation, Beazer Realty, Inc., a New Jersey corporation, Beazer Clarksburg, LLC, a Maryland
limited liability company, Homebuilders Title Services of Virginia, Inc., a Virginia corporation, Homebuilders Title Services, Inc., a Delaware corporation, Texas Lone Star Title, L.P.,
a Texas limited partnership, Crossmann Communities of North Carolina, Inc., a North Carolina corporation, Crossmann Communities of Ohio, Inc., an Ohio corporation, Crossmann Communities
of Tennessee, LLC, a Tennessee limited liability company, Crossmann Communities Partnership, an Indiana general partnership, Crossmann Investments, Inc., an Indiana corporation, Crossmann
Management Inc., an Indiana corporation, Crossmann Mortgage Corp., an Indiana corporation, Cutter Homes Ltd., a Kentucky corporation, Deluxe Homes of Lafayette, Inc., an Indiana
corporation, Deluxe Homes of Ohio, Inc., an Ohio corporation, Beazer Realty, Inc. (fka Merit Realty, Inc), an Indiana corporation, Paragon Title, LLC, an Indiana limited liability
company, Pinehurst Builders LLC, a South Carolina limited liability company, and Trinity Homes LLC, an Indiana limited liability company (the "Subsidiary
Guarantors") have unconditionally guaranteed, jointly and severally (such guarantee by each Subsidiary Guarantor being referred to herein as the
"Subsidiary Guarantee") (i) the due and punctual payment of the principal of and interest on the Securities, whether at maturity, by acceleration
or otherwise, the due and punctual payment of interest on the overdue principal and interest, if any, on the Securities, to the extent lawful, and the due and punctual
performance of all other obligations of the Company to the Holders or the Trustee all in accordance with the terms set forth in Article Six of the Indenture and (ii) in case of any extension of
time of payment or renewal of any Securities or any of such other obligations, that the same will be promptly paid in full when due or performed in accordance with the terms of the extension or
renewal, whether at stated maturity, by acceleration or otherwise. 

        No
past, present or future stockholder, officer, director, employee or incorporator, as such, of any of the Subsidiary Guarantors shall have any liability under the Subsidiary Guarantee
by reason of such Person's status as stockholder, officer, director, employee or incorporator. Each Holder of a Security by accepting a Security waives and releases all such liability. This waiver and
release are part of the consideration for the issuance of the Subsidiary Guarantees. 

        Each
Holder of a Security by accepting a Security agrees that any Subsidiary Guarantor named below shall have no further liability with respect to its Subsidiary Guarantee if such
Subsidiary Guarantor otherwise ceases to be liable in respect of its Subsidiary Guarantee in accordance with the terms of the Indenture. 

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

	 	 	APRIL CORPORATION

BEAZER ALLIED COMPANIES HOLDINGS, INC.

BEAZER HOMES CORP.

BEAZER HOMES HOLDINGS CORP.

BEAZER HOMES INVESTMENT CORP.

BEAZER HOMES SALES ARIZONA INC.

BEAZER HOMES TEXAS HOLDINGS, INC.

BEAZER MORTGAGE CORPORATION

BEAZER REALTY CORP,

BEAZER REALTY, INC.

BEAZER/SQUIRES REALTY, INC.

CROSSMANN COMMUNITIES OF NORTH CAROLINA, INC.

CROSSMANN COMMUNITIES OF OHIO, INC.

CROSSMANN INVESTMENTS, INC.

CROSSMANN MANAGEMENT INC.

CROSSMANN MORTGAGE CORP.

CUTTER HOMES, LTD.

DELUXE HOMES OF LAFAYETTE, INC.

DELUXE HOMES OF OHIO, INC.

HOMEBUILDERS TITLE SERVICES OF VIRGINIA, INC,

HOMEBUILDERS TITLE SERVICES, INC.

BEAZER REALTY, INC., fka MERIT REALTY, INC.
	

 	
 	

By:	
 	

	 	 	 	 	Name:
	 	 	 	 	Title:
	

 	
 	

BEAZER CLARKSBURG, LLC
	

 	
 	

By:	
 	

BEAZER HOMES CORP., its managing partner
	

 	
 	

By:	
 	

	 	 	 	 	Name:
	 	 	 	 	Title:
	 	 	 	 	 

	

 	
 	

BEAZER HOMES TEXAS, L.P.
	

 	
 	

By:	
 	

BEAZER HOMES TEXAS HOLDINGS, INC., its managing partner
	

 	
 	

By:	
 	

	 	 	 	 	Name:
	 	 	 	 	Title:
	

 	
 	

BEAZER SPE, LLC
	

 	
 	

By:	
 	

BEAZER HOMES HOLDINGS CORP., its managing member
	

 	
 	

By:	
 	

	 	 	 	 	Name:
	 	 	 	 	Title:
	

 	
 	

CROSSMANN COMMUNITIES OF TENNESSEE, LLC
	

 	
 	

By:	
 	

CROSSMANN COMMUNITIES OF NORTH CAROLINA, INC., its managing member
	

 	
 	

By:	
 	

	 	 	 	 	Name:
	 	 	 	 	Title:
	

 	
 	

CROSSMANN COMMUNITIES PARTNERSHIP
	

 	
 	

By:	
 	

BEAZER HOMES INVESTMENT CORP., its partner
	

 	
 	

By:	
 	

	 	 	 	 	Name:
	 	 	 	 	Title:
	 	 	 	 	 

	

 	
 	

PARAGON TITLE, LLC
	

 	
 	

By:	
 	

BEAZER HOMES INVESTMENT CORP., its partner
	

 	
 	

By:	
 	

	 	 	 	 	Name:
	 	 	 	 	Title:
	

 	
 	

PINEHURST BUILDERS LLC
	

 	
 	

By:	
 	

CROSSMANN COMMUNITIES OF NORTH CAROLINA, INC., its managing member
	

 	
 	

By:	
 	

	 	 	 	 	Name:
	 	 	 	 	Title:
	

 	
 	

TEXAS LONE STAR TITLE, L.P.
	

 	
 	

By:	
 	

BEAZER HOMES TEXAS HOLDINGS, INC., its managing partner
	

 	
 	

By:	
 	

	 	 	 	 	Name:
	 	 	 	 	Title:
	

 	
 	

TRINITY HOMES LLC
	

 	
 	

By:	
 	

BEAZER HOMES INVESTMENT CORP., its manager
	

 	
 	

By:	
 	

	 	 	 	 	Name:
	 	 	 	 	Title:

[FORM OF CONVERSION NOTICE] 

        To:
Beazer Homes USA, Inc. 

        The
undersigned registered holder of this Security hereby exercises the option to convert this Security, or portion hereof (which is $1,000 principal amount or an integral multiple
thereof) designated below, for shares of Common Stock of Beazer Homes USA, Inc. in accordance with the terms of the Indenture referred to in this Security, and directs that the shares, if any,
issuable and deliverable upon such conversion, together with any check for cash deliverable upon such conversion, and any Securities representing any unconverted principal amount hereof, be issued and
delivered to the registered holder hereof unless a different name has been indicated below. If shares or any portion of this Security not converted are to be issued in the name of a Person other than
the undersigned, the undersigned shall pay all transfer taxes payable with respect thereto. 

        This
notice shall be deemed to be an irrevocable exercise of the option to convert this Security. 

        Dated: 

	 	 	

	

 	
 	

	 	 	Signature(s)
	

 	
 	

Signature(s) must be guaranteed by a commercial bank or trust company or a member firm of a major stock exchange if shares of Common Stock arc to be issued, or Notes to be delivered, other than to or in the name of the registered holder.
	

 	
 	

	 	 	Signature Guarantee

Fill
in for registration of Securities if to be issued other than to and in the name of registered holder: 

	

 (Name)	
 	

Principal Amount to be purchased (if less than all):
	

 (Street Address)	
 	

$                ,000
	

 (City, state and zip code)	
 	

Social Security or Other Taxpayer Number
	

Please print name and address	
 	

 

[FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE] 

        To:
Beazer Homes USA, Inc. 

        The
undersigned registered holder of this Security hereby acknowledges receipt of a notice from Beazer Homes USA, Inc. (the
"Company") as to the occurrence of a Fundamental Change with respect to the Company and requests and instructs the Company to repurchase this Security,
or the portion hereof (which is $1,000 principal amount or a integral multiple thereof) designated below, in accordance with the terms of the Indenture referred to in this Security and directs that
the check of the Company, in payment for this Security or the portion thereof and any Securities representing any unrepurchased principal amount hereof, be issued and delivered to the registered
holder hereof unless a different name has been indicated below. If any portion of this Security not repurchased is to be issued in the name of a Person other than the undersigned, the undersigned
shall pay all transfer taxes payable with respect thereto. 

        Dated:

	 	 	

	

 	
 	

	 	 	Signature(s)
	

 	
 	

Signature(s) must be guaranteed by a commercial bank or trust company or a member firm of a major stock exchange if shares of Common Stock are to be issued, or Securities to be delivered, other than to or in the name of the registered
holder.
	

 	
 	

	 	 	Signature Guarantee

Fill
in for registration of Securities if to be issued other than to and in the name of registered holder: 

	

 (Name)	
 	

Principal Amount to be purchased (if less than all):
	

 (Street Address)	
 	

$                ,000
	

 (City, state and zip code)	
 	

Social Security or Other Taxpayer Number
	

Please print name and address	
 	

 

[FORM OF PURCHASE NOTICE] 

        To:
Beazer Homes USA, Inc. 

        The
undersigned registered holder of this Security hereby acknowledges receipt of a notice from Beazer Homes USA, Inc. (the
"Company") as to the holder's option to require the Company to repurchase this Security and requests and instructs the Company to repurchase this
Security, or the portion hereof (which is $1,000 principal amount or an integral multiple thereof) designated below, in accordance with the terms of the Indenture referred to in this Security and
directs that the check of the Company in payment for this Security or the portion thereof and any Securities representing any unrepurchased principal amount hereof, be issued and delivered to the
registered holder hereof unless a different name has been indicated below. If any portion of this Security not repurchased is to be issued in the name of a Person other than the undersigned, the
undersigned shall pay all transfer taxes payable with respect thereto. 

        Dated: 

	 	 	

	

 	
 	

	 	 	Signature(s)
	

 	
 	

Signature(s) must be guaranteed by a commercial bank or trust company or a member firm of a major stock exchange if shares of Common Stock are to be issued, or Securities to be delivered, other than to or in the name of the registered
holder.
	

 	
 	

	 	 	Signature Guarantee

Fill
in for registration of Securities if to be issued other than to and in the name of registered holder: 

	

 (Name)	
 	

Principal Amount to be purchased (if less than all):
	

 (Street Address)	
 	

$                ,000
	

 (City, state and zip code)	
 	

Social Security or Other Taxpayer Number
	

Please print name and address	
 	

 

QuickLinks

EXHIBIT 4.2QuickLinks
 -- Click here to rapidly navigate through this document

 
 

EXHIBIT 4.3    
    

 
 
  BEAZER  HOMES USA, INC.    
    
    45/8% Convertible Senior Notes due 2024    
    
    REGISTRATION RIGHTS AGREEMENT    
    

        This Registration Rights Agreement (this "Agreement") is made and entered into this 8th day of June, 2004 among Beazer Homes USA, Inc., a Delaware
corporation (the "Company"), the guarantors listed on Schedule I hereto (collectively, the
"Guarantors" and, collectively with the Company, the "Issuers"), and Citigroup Global
Markets Inc., UBS Securities LLC, Banc One Capital Markets, Inc., Deutsche Bank Securities Inc., Wachovia Capital Markets, LLC and BNP Paribas Securities Corp., as initial
purchasers (the "Initial Purchasers"). 

        This
Agreement is made pursuant to the Purchase Agreement, dated June 3, 2004, among the Issuers and the Initial Purchasers (the "Purchase
Agreement"), which provides for the sale by the Company to the Initial Purchasers (the "Initial Placement") of an aggregate of
$150 million principal amount of the Company's 45/8% Convertible Senior Notes due 2024 (the "Firm Notes") and the granting by the
Company to the Initial Purchasers of the option to purchase $30 million additional principal amount of such Convertible Senior Notes (the "Option
Notes" and, together with the Firm Notes, the "Notes"). The Company's obligations under the Notes and the Indenture will be
unconditionally guaranteed (the "Guarantees") on an unsecured senior basis by each of the Guarantors. All references herein to the Notes include the
related Guarantees, unless the context otherwise requires. The Notes are convertible into shares of Common Stock, par value $0.01 per share of the Company at the initial conversion price set forth in
the Offering Memorandum dated June 3, 2004 relating to the Initial Placement of the Notes (the "Offering Memorandum"), subject to adjustment in
accordance with the Indenture (as defined below). In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Issuers have agreed to provide to the Initial Purchasers and their
direct and indirect transferees the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the closing under the Purchase Agreement. 

        In
consideration of the foregoing, the parties hereto agree as follows: 

        1.    Definitions.    Capitalized terms used herein without definition shall have their respective meanings set forth
in the Purchase Agreement. As used in this Agreement, the following capitalized defined terms shall have the following meanings: 

        "1933 Act" shall mean the Securities Act of 1933, as amended from time to time. 

        "1934 Act" shall mean the Securities Exchange Act of 1934, as amended from time to time. 

        "Additional Amounts" shall have the meaning set forth in Section 2.4(A) hereof. 

        "Additional Amounts Payment Date" shall have the meaning set forth in Section 2.4(B) hereof. 

        "Affiliate" shall have the meaning set forth in the Indenture. 

        "Applicable Conversion Price" shall mean, as of any date of determination, $1,000 principal amount of Notes as of such date of
determination divided by the Conversion Rate in effect as of such date of determination or, if no Notes are then outstanding, the Conversion Rate that would be in effect were Notes then outstanding. 

        "Business Day" shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in The
City of New York are authorized or obligated by law or executive order to close. 

        "Closing Date" shall mean the later of (a) the Firm Closing Date and (b) the date on which the Option Notes are issued. 

 

        "Company" shall have the meaning set forth in the preamble and shall also include the Company's successors. 

        "Conversion Rate" shall have the meaning assigned to such term in the Indenture. 

        "Depositary" shall mean The Depository Trust Company, or any other depositary for the Securities appointed by the Company;  provided, however, that such depositary must have an address in the Borough of Manhattan, in the City of
New York. 

        "Firm Closing Date" shall mean the date on which the Firm Notes are issued. 

        "Firm Notes" shall have the meaning set forth in the preamble hereto. 

        "Guarantors" shall have the meaning set forth in the preamble hereto. 

        "Holder" shall mean an Initial Purchaser, for so long as it owns any Registrable Securities, and each of its successors, assigns and
direct and indirect transferees who become owners of Registrable Securities. 

        "Indenture" shall mean the Indenture, dated as of June 8, 2004 among the Issuers and SunTrust Bank, as trustee, as the same may be
amended, supplemented, waived or otherwise modified from time to time in accordance with the terms thereof. 

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

        "Initial Purchaser" or "Initial Purchasers" shall have the meaning set forth in the
preamble hereto. 

        "Losses" shall have the meaning set forth in section 4(D) hereof. 

        "Majority Holders" shall mean, on any date, Holders of a majority of the outstanding Shares constituting Registrable Securities;  provided that whenever the consent or
approval of Holders of a specified percentage of Registrable Securities is required hereunder, Registrable
Securities held by any Issuer and other obligors on the Notes or any Affiliate of any Issuer or other obligor shall be disregarded in determining whether such consent or approval was given by the
Holders of such required percentage amount. For the purposes of this definition, Holders of Notes constituting Registrable Securities shall be deemed to be Holders of the number of Shares into which
such Notes are or would be convertible as of such date. 

        "NASD" shall mean the National Association of Securities Dealers Inc. 

        "Notes" shall have the meaning set forth in the preamble hereto. 

        "Notice and Questionnaire" shall mean a written notice delivered to the Company substantially in the form attached as Appendix I to
the Offering Memorandum. 

        "Notice Holder" shall mean, on any date, any Holder that has delivered a Notice and Questionnaire to the Company on or prior to such date. 

        "Offering Memorandum" shall have the meaning set forth in the preamble hereto. 

        "Option Notes" shall have the meaning set forth in the preamble hereto. 

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

        "Prospectus" shall mean the prospectus included in a Shelf Registration Statement, including any preliminary prospectus, and any such
prospectus as amended or supplemented by any prospectus supplement, including any such prospectus supplement with respect to the terms of the 

2

 

offering
of any portion of the Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and supplements to a prospectus, including post-effective
amendments, and in each case including all material incorporated by reference therein. 

        "Purchase Agreement" shall have the meaning set forth in the preamble hereto. 

        "Registrable Securities" shall mean the Securities; provided,  however, that Securities shall cease to be Registrable
Securities when (i) a Shelf Registration Statement with respect to such Securities shall
have been declared effective under the 1933 Act and such Securities shall have been disposed of pursuant to such Shelf Registration Statement, (ii) such Securities have been distributed to the
public pursuant to Rule 144 under the 1933 Act under the 1933 Act or may be sold pursuant to Rule 144(k) (or any similar provision in force, but not Rule 144A), or
(iii) such Securities shall have ceased to be outstanding. 

        "Registration Default" shall have the meaning set forth in Section 2.4(A) hereof. 

        "Registration Expenses" shall mean any and all expenses incident to performance of or compliance by the Issuers with this Agreement,
including, without limitation: (i) all SEC, stock exchange or NASD registration and filing fees, including, if applicable, the reasonable fees and expenses of any "qualified independent
underwriter" (and its counsel) that is required to be retained by any Holder of Registrable Securities in accordance with the rules and regulations of the NASD, (ii) all fees and expenses
incurred in connection with compliance with state securities or blue sky laws and compliance with the rules of the NASD (including reasonable fees and disbursements of counsel for any underwriters or
Holders in connection with blue sky qualification of any of the Registrable Securities and any filings with the NASD), (iii) all expenses relating to printing and distributing any Shelf
Registration Statement, any Prospectus, any amendments or supplements thereto and other documents relating to the performance of and compliance with this Agreement, (iv) all fees and expenses
incurred in connection with the listing, if any, of any of the Registrable Securities on any securities exchange or exchanges, (v) all rating agency fees, (vi) the fees and disbursements
of counsel for the Issuers and of the independent public accountants of the Company, including the expenses of any special audits or "cold comfort" letters required by or incident to such performance
and compliance, (vii) the fees and expenses of the Trustee, and any escrow agent or custodian, (viii) the reasonable fees and disbursements of one firm, at any one time, of legal counsel
selected by Citigroup Global Markets Inc. or the Majority Holders to represent the Holders of Registrable Securities (which fees shall not exceed $10,000 in the aggregate). Notwithstanding
anything in this Agreement to the contrary, each Holder shall pay all brokerage commissions, underwriting discounts and transfer taxes with respect to any Registrable Securities sold by it and, except
as set forth in clause (viii) above, the Issuers shall not be responsible for the fees and expenses of any counsel, accountant or adviser for the Holders. 

        "SEC" shall mean the United States Securities and Exchange Commission or any successor agency or governmental body performing the
functions currently performed by the United States Securities and Exchange Commission. 

        "Securities" shall mean collectively the Notes and the Shares. 

        "Shares" shall mean the shares of common stock of the Company, par value $0.01 per share, into which the Notes are convertible or that
have been issued upon any conversion of the Notes into common stock of the Company. 

        "Shelf Registration" shall mean a registration effected pursuant to Section 2.1 hereof. 

        "Shelf Registration Statement" shall mean a "shelf" registration statement of the Issuers pursuant to the provisions of Section 2.1
of this Agreement which covers some or all of the Registrable Securities on an appropriate form under Rule 415 under the 1933 Act, or any similar 

3

 

rule
that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained
therein, all exhibits thereto and all material incorporated by reference therein. 

        "Suspension Period" shall have the meaning set forth in Section 2.1(A) hereof. 

        "TIA" shall mean the Trust Indenture Act of 1939, as amended. 

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

        2.    Registration Under the 1933 Act.    

        2.1    Shelf Registration.    

        (A)  The
Company agrees to file under the 1933 Act within 90 days after the Firm Closing Date a Shelf Registration Statement providing for the registration of, and the
sale on a continuous or delayed basis by the Holders of, all of the Registrable Securities, pursuant to Rule 415 under the 1933 Act or any similar rule that may be adopted by the SEC. The
Company agrees to use its reasonable commercial efforts to cause the Shelf Registration Statement to become or be declared effective within 180 days after the Firm Closing Date and to keep such
Shelf Registration Statement continuously effective until the earliest of (i) such time as there are no longer any Registrable Securities outstanding, and (ii) the second anniversary of
the Closing Date (plus, in each case, the number of days in any Suspension Period); provided, however, that the Company shall not be obligated to keep
the Shelf Registration Statement effective or to permit the use of any Prospectus forming a part of the Shelf Registration
Statement if (i) the Company determines, in its reasonable judgment, upon advice of counsel that the continued effectiveness and use of the Shelf Registration Statement would (x) require
the disclosure of material information which the Company has a bona fide business reason for preserving as confidential or (y) interfere with any
financing, acquisition, corporate reorganization or other material transaction involving the Company or any of its subsidiaries; and provided,  further,
that the failure to keep the Shelf Registration Statement effective and usable for offers and sales of Registrable Securities for such reasons
shall last no longer than 45 consecutive calendar days or no more than an aggregate of 90 calendar days during any consecutive twelve-month period (whereafter a Registration Default, as hereinafter
defined, shall occur and Additional Amounts shall accrue as set forth in Section 2.4(A)(v) hereof) and (ii) the Company promptly thereafter complies with the requirements of
Section 3(K) hereof, if applicable; any such period during which the Company is excused from keeping the Shelf Registration Statement effective and usable for offers and sales of Registrable
Securities is referred to herein as a "Suspension Period"; a Suspension Period shall commence on and include the date that the Company gives notice to the Holders that the Shelf Registration Statement
is no longer effective or the Prospectus included therein is no longer usable for offers and sales of Registrable Securities as a result of the application of the proviso of the foregoing sentence,
stating the reason therefor, and shall end on the earlier to occur of the date on which each seller of Registrable Securities covered by the Shelf Registration Statement either receives the copies of
the supplemented or amended Prospectus or is advised in writing by the Company that use of the Prospectus may be resumed. The Company shall not be required to specify the nature of the event giving
rise to the Suspension Peroid in such notice to Holders; provided that such notice to Holders shall state that it is being given pursuant to
Section 2.1(A) hereof. 

        (B)  Each
Holder of Registrable Securities agrees that if such Holder wishes to sell Registrable Securities pursuant to the Shelf Registration Statement and related
Prospectus, it will do so only in accordance with this Section 2.1(B) and the last paragraph of Section 3 hereof. To be named as a selling holder in the Shelf Registration Statement when
it first becomes effective, Holders must deliver a duly completed Notice and Questionnaire to the Company at least five 

4

 

(5) Business
Days prior to the effectiveness of the Shelf Registration Statement. From and after the date the Shelf Registration Statement is declared effective, the Company shall, as promptly
as is practicable after the date a Notice and Questionnaire is delivered, and in any event within five (5) Business Days after such date, (i) if required by applicable law, file with the
SEC a post-effective amendment to the Shelf Registration Statement or prepare and, if required by applicable law, file a supplement to the related Prospectus or an amendment or
supplement to any document incorporated therein by reference or file any other required document so that the Holder delivering such Notice and Questionnaire is named as a selling holder in the Shelf
Registration Statement and the related Prospectus and so that such Holder is permitted to deliver such Prospectus to purchasers of the Registrable Securities in accordance with applicable law
(provided, however, that if the Company is required to file a post-effective
amendment to the Shelf Registration Statement in order to add a Holder as a selling holder in the Shelf Registration Statement, the Company shall promptly, but in any event within ten
(10) Business Days, file with the SEC such post-effective amendment) and, if the Company shall file a post-effective amendment to the Shelf Registration
Statement, use commercially reasonable efforts to cause such post-effective amendment to be declared effective under the Act as promptly as is practicable; (ii) provide such Holder
copies of any documents filed pursuant to Section 2.1(B)(i) hereof; and (iii) notify such Holder as promptly as practicable after the effectiveness under the Act of any
post-effective amendment filed pursuant to Section 2.1(B)(i) hereof; provided, that if such Notice and Questionnaire is
delivered during a Suspension Period, the Company shall so inform the Holder delivering such Notice and Questionnaire and shall take the actions set forth in clauses (i), (ii) and
(iii) above upon expiration of the Suspension Period. Notwithstanding anything contained herein to the contrary, the Company shall be under no obligation to name any Holder that is not a Notice
Holder as a selling holder in the Shelf Registration Statement or related Prospectus; provided, however,
that any Holder that becomes a Notice Holder pursuant to the provisions of this Section 2.1(B) (whether or not such Holder was a Notice Holder at the time the Shelf Registration Statement was
declared effective) shall be named as a selling holder in the Shelf Registration Statement or related Prospectus in accordance with the requirements of this Section 2.1(B). 

        (C)  The
Company shall not permit any securities other than Registrable Securities to be included in the Shelf Registration Statement. The Company further agrees, if
necessary, to supplement or amend the Shelf Registration Statement, as required by Section 3(B) below, and to furnish to the Holders of Registrable Securities copies of any such supplement or
amendment promptly after its being used or filed with the SEC. 

        2.2    Expenses.    The Company shall pay all Registration Expenses in connection with the registration pursuant to
Section 2.1 hereof and the performance of its obligations under Sections 2.1 and 3 hereof. 

        2.3    Effectiveness.    

        (A)  The
Company will be deemed not to have used its reasonable commercial efforts to cause the Shelf Registration Statement to become, or to remain, effective during the
requisite period if the Company voluntarily takes any action that would, or omits to take any action (other than any action specifically permitted by Section 2.1(A) hereof) which omission
would, result in any such Shelf Registration Statement not being declared effective or in the Holders of Registrable Securities covered thereby not being able to offer and sell such Registrable
Securities during that period as and to the extent contemplated hereby, unless such action is required by applicable law. 

        (B)  A
Shelf Registration Statement pursuant to Section 2.1 hereof will not be deemed to have become effective unless it has been declared effective by the SEC;  provided, however, that if, after it has been declared effective, the offering of Registrable Securities
pursuant to a Shelf Registration Statement is interfered with by any stop order, injunction or other order or 

5

 

requirement
of the SEC or any other governmental agency or court, such Shelf Registration Statement will be deemed not to have become effective during the period of such interference, until the
offering of Registrable Securities pursuant to such Shelf Registration Statement may legally resume. 

        2.4    Additional Amounts.    

        (A)  If
any of the following events (any such event a "Registration Default") shall occur, then additional amounts (the "Additional Amounts") shall become payable to Holders
in respect of the Securities as follows: 

        (i)    if
the Shelf Registration Statement is not filed with the SEC within 90 days following the Firm Closing Date (or, if such 90th day is not a Business Day, the next
succeeding Business Day), then commencing on the next succeeding Business Day, Additional Amounts shall accrue on the principal amount of the outstanding Notes that are Registrable Securities and on
the Applicable Conversion Price of any outstanding Shares that are Registrable Securities at a rate of 0.25% per annum for the first 90 days following such Registration Default and at a rate of
0.50% per annum thereafter; 

        (ii)   if
the Shelf Registration Statement is not declared effective by the SEC within 180 days following the Firm Closing Date (or, if such 180th day is not a Business
Day, the next succeeding Business Day), then commencing on the next succeeding Business Day, Additional Amounts shall accrue on the principal amount of the outstanding Notes that are Registrable
Securities and on the Applicable Conversion Price of any outstanding Shares that are Registrable Securities at a rate of 0.25% per
annum for the first 90 days following such Registration Default and at a rate of 0.50% per annum thereafter; 

        (iii)  if
the Company has failed to perform its obligations set forth in Section 2.1(B) hereof within the time periods required therein, then commencing on the first
day after the date by which the Company was required to perform such obligations, Additional Amounts shall accrue on the principal amount of the outstanding Notes that are Registrable Securities and
on the Applicable Conversion Price of any outstanding Shares that are Registrable Securities at a rate of 0.25% per annum for the first 90 days and at a rate of 0.50% per annum thereafter; 

        (iv)  if
the Shelf Registration Statement has been declared effective but such Shelf Registration Statement ceases to be effective at any time (other than as specifically
permitted in Section 2.1(A) hereof) without being succeeded within 30 days by an amendment thereto or an additional registration statement filed and declared effective, then commencing
on the day such Shelf Registration Statement ceases to be effective, Additional Amounts shall accrue on the principal amount of the outstanding Notes that are Registrable Securities and on the
Applicable Conversion Price of any outstanding Shares that are Registrable Securities at a rate of 0.25% per annum for the first 90 days following such date on which the Shelf Registration
Statement ceases to be effective and at a rate of 0.50% per annum thereafter; or 

        (v)   if
the aggregate duration of Suspension Periods in any period exceeds the number of days permitted in respect of such period pursuant to Section 2.1(A) hereof,
then commencing on the day the aggregate duration of Suspension Periods in any period exceeds the number of days permitted in respect of such period, Additional Amounts shall accrue on the principal
amount of the outstanding Notes that are Registrable Securities and on the Applicable Conversion Price of any outstanding Shares that are Registrable Securities at a rate of 0.25% per annum for the
first 90 days and at a rate of 0.50% per annum thereafter; 

provided, however, that the Additional Amounts on the Securities shall not exceed in the aggregate 0.50% per annum and shall not be payable under more
than one clause above for any given period 

6

 

of
time, except that if Additional Amounts would be payable under more than one clause above, but at a rate of 0.25% per annum under one clause and at a rate of 0.50% per annum under the other, then
the Additional Amounts rate shall be the higher rate of 0.50% per annum; provided, further, however, that (1) upon the filing of the Shelf
Registration Statement (in the case of clause (i) above), (2) upon the effectiveness of the Shelf Registration Statement (in the case of clause (ii) above), (3) upon the
Company's performing its obligations set forth in Section 2.1(B) hereof (in the case of clause (iii) above), (4) upon the effectiveness of the Shelf Registration Statement which
had ceased to remain effective (in the case of clause (iv) above), or (5) upon the termination of the Suspension Period that caused the limit on the aggregate duration of Suspension
Periods in a period set forth in Section 2.1(A) to be exceeded (in the case of clause (v) above), Additional Amounts on the Securities as a result of such clause, as the case may be,
shall cease to accrue. 

        (B)  Additional
Amounts on the Securities, if any, will be payable in cash on June 15 and December 15 of each year (the "Additional Amounts Payment Date") to
holders of record of outstanding Registrable Securities on each preceding June 1 and December 1, respectively. The date of determination of the Applicable Conversion Price of any
outstanding Shares that are Registrable Securities shall be the Business Day immediately preceding the Additional Amounts Payment Date; provided that in
the case of an event of the type described in Section 2.4(A) (iii) above, such Additional Amounts shall be paid only to the Holders that have delivered Notice and Questionnaires that
caused the Company to incur the obligations set forth in Section 2.1(B), the non-performance of which is the basis of such Registration Default; provided,
further, that any Additional Amounts accrued with respect to any Notes or portion thereof called for redemption on a redemption date or purchased on a purchase date or
converted into Shares on a conversion date prior to the Registration Default shall, in any such event, be paid instead to the Holder who submitted such Notes or portion thereof for redemption,
purchase or conversion on the applicable redemption date, purchase date or conversion date, as the case may be, on such date (or promptly following the conversion date, in the case of conversion), and
shall continue to accrue on the Shares issuable upon conversion of any Notes to the extent any Registration Default has not yet been cured. Following the cure of all Registration Defaults requiring
the payment of Additional Amounts by the Company to the Holders of Registrable Securities pursuant to Section 2.4(A), the accrual of Additional Amounts will cease without in any way limiting
the effect of any subsequent Registration Default requiring the payment of Additional Amounts by the Company. 

        The
Trustee shall be entitled, on behalf of Holders of Securities, to seek any available remedy for the enforcement of this Agreement, including for the payment of any Additional
Amounts. Notwithstanding the foregoing, the parties agree that the sole monetary damages payable for a violation of the terms of this Agreement with respect to which Additional Amounts are expressly
provided shall be as set forth in this Section 2.4 in addition to any remedies available to the Holders of the Securities under the Indenture. Nothing shall preclude a Notice Holder or Holder
of Registrable Securities from pursuing or obtaining specific performance or other equitable relief with respect to this Agreement. With respect to payments of Additional Amounts pursuant to
Section 2.4(A)(iii) to Holders who submitted Notice and Questionnaires, such payments will be personal to such Holders, payable only to them, regardless of whether they remain Holders. 

        3.    Registration Procedures.    In connection with the obligations of the Company with respect to Shelf Registration
Statements pursuant to Section 2.1 hereof, the Company shall: 

        (A)  prepare
and file with the SEC a Shelf Registration Statement, within the relevant time period specified in Section 2, on the appropriate form under the 1933 Act,
which form shall (i) be selected by the Company, (ii) be available for the sale of the Registrable Securities by the selling Holders thereof and (iii) comply as to form in all
material respects with the requirements of the applicable form and include or incorporate by reference all financial statements required by the 

7

 

SEC
to be filed therewith or incorporated by reference therein, and use its reasonable commercial efforts to cause such Shelf Registration Statement to become effective and remain effective in
accordance with Section 2 hereof; 

        (B)  cause
(i) any Shelf Registration Statement and any amendment thereto, when it becomes effective, not to contain an untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the statements therein not misleading and (ii) subject to Section 2.1(C), any Prospectus forming part of any
Shelf Registration Statement, and any supplement to such Prospectus (as amended or supplemented from time to time), not to include an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; 

        (C)  prepare
and file with the SEC such amendments and post-effective amendments to the Shelf Registration Statement as may be necessary under applicable law to
keep such Shelf Registration Statement effective for the applicable period; and cause each Prospectus to be supplemented by any required prospectus supplement, and as so supplemented to be filed
pursuant to Rule 424 (or any similar provision then in force) under the 1933 Act and comply with the provisions of the 1933 Act, the 1934 Act and the rules and regulations thereunder applicable
to them with respect to the disposition of all securities covered by the Shelf Registration Statement during the applicable period in accordance with the intended method or methods of distribution
reasonably requested by the selling Holders thereof; 

        (D)  (i) notify
each Holder of Registrable Securities, at least fifteen (15) calendar days prior to filing, that a Shelf Registration Statement with respect to
the Registrable Securities is being filed and advising such Holders that the distribution of Registrable Securities will be made in accordance with the methods reasonably requested by the Majority
Holders participating in the Shelf Registration and as set forth in the Notice and Questionnaires, (ii) furnish to each Holder of Registrable Securities and to each underwriter of an
underwritten offering of Registrable Securities, if any, 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 or underwriter may reasonably request, including financial statements and schedules and, if the Holder so requests, all exhibits in order to facilitate the public sale
or other disposition of the Registrable Securities and (iii) hereby consent to the use of the Prospectus or any amendment or supplement thereto by each of the selling Holders of Registrable
Securities in connection with the offering and sale of the Registrable Securities covered by the Prospectus or any amendment or supplement thereto, save and except during any Suspension Period; 

        (E)  use
its reasonable commercial efforts to register or qualify the Registrable Securities under such state securities or blue sky laws of such jurisdictions as any Holder
of Registrable Securities covered by a Shelf Registration Statement and each underwriter of an underwritten offering of Registrable Securities shall reasonably request by the time such Shelf
Registration Statement is declared effective by the SEC, and do any and all other acts and things which may be reasonably necessary or advisable to enable each such Holder and underwriter 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 as a foreign corporation or as a dealer in securities in any jurisdiction where it
would not otherwise be required to qualify but for this Section 3(E) or (ii) take any action which would subject it to general service of process or taxation in any such jurisdiction
where it is not then so subject; 

        (F)  notify
promptly each Holder of Registrable Securities under a Shelf Registration and, if requested by such Holder, confirm such advice in writing promptly
(i) when such Shelf Registration Statement has become effective and when any post-effective amendments and 

8

 

supplements
thereto become effective, (ii) of any request by the SEC or any state securities authority for post-effective amendments and supplements to such Shelf Registration
Statement and Prospectus or for additional information after such Shelf Registration Statement has become effective, (iii) of the issuance by the SEC or any state securities authority of any
stop order suspending the effectiveness of such Shelf Registration Statement or the initiation of any proceedings for that purpose, (iv) if, between the effective date of the Shelf Registration
Statement and the closing of any sale of Registrable Securities covered thereby, the representations and warranties of the Company contained in any underwriting agreement, securities sales agreement
or other similar agreement, if any, relating to the offering cease to be true and correct in all material respects, (v) of the happening of any event that requires any change in the Shelf
Registration Statement or the Prospectus so that, as of such date, they (A) do not contain any untrue statement of a material fact and (B) do not omit to state a material fact required
to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not misleading, (vi) of the
receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities, as the case may be, for sale in any jurisdiction or the initiation or
threatening of any proceeding for such purpose and (vii) of any determination by the Company that a post-effective amendment to the Shelf Registration Statement would be
appropriate; 

        (G)  furnish
to counsel for the Holders of Registrable Securities copies of any comment letters received from the SEC or any other request by the SEC or any state securities
authority for amendments or supplements to a Shelf Registration Statement and Prospectus or for additional information; 

        (H)  make
every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of the Shelf Registration Statement as soon as practicable and provide
prompt notice to legal counsel for the Holders of the withdrawal of any such order; 

        (I)   furnish
to each Holder of Registrable Securities, the Representatives and each underwriter, if any, without charge, at least one conformed copy of each Shelf
Registration Statement and any post-effective amendment thereto, including financial statements and schedules (without documents incorporated therein by reference or all exhibits thereto,
unless requested); 

        (J)   cooperate
with the selling Holders of Registrable Securities to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be
sold to the extent not held with the Depositary through Cede & Co., to remove any restrictive legends, and enable such Registrable Securities to be in such denominations (consistent with the
provisions of the Indenture) and registered in such names as the selling Holders or the underwriters, if any, may reasonably request at least three Business Days prior to the closing of any sale of
Registrable Securities; 

        (K)  upon
the occurrence of any event or the discovery of any facts, each as contemplated by Sections 3(F)(ii), (iii), (v), (vi) and (vii) hereof and subject to
the provisions of the first paragraph immediately following Section 3(T) hereof, as promptly as practicable after the occurrence of such an event, use its reasonable commercial efforts to
prepare a supplement or post-effective amendment to the Shelf 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 at the time of such delivery any untrue statement of a material fact or omit
to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. At such time as such public disclosure is otherwise
made or the Company determines that such disclosure is not necessary, in each case to correct any misstatement of a material fact or to include any omitted material fact, the Company agrees to
promptly notify each 

9

 

Holder
of such determination and to furnish each Holder such number of copies of the Prospectus, as amended or supplemented, as such Holder may reasonably request; 

        (L)  obtain
a CUSIP number for all Registrable Securities covered by the Shelf Registration Statement not later than the effective date of such Shelf Registration Statement,
and provide the Trustee for the Notes and the transfer agent for the Shares with printed certificates for the Registrable Securities, free of any restrictive legends, that are in a form eligible for
deposit with the Depositary; 

        (M) unless
the Indenture, as it relates to the Registrable Securities has already been so qualified, (i) cause the Indenture to be qualified under the TIA in
connection with the registration of the Registrable Securities, as the case may be in a timely manner, (ii) cooperate with the Trustee and the Holders to effect such changes to the Indenture as
may be required for the Indenture to be so qualified in accordance with the terms of the TIA and (iii) execute, and use its reasonable commercial efforts to cause the Trustee to execute, all
documents as may be required to effect such changes, and all other forms and documents required to be filed with the SEC to enable the Indenture to be so qualified in a timely manner; 

        (N)  in
connection with any underwritten offering pursuant to Section 5 hereof: 

        (i)    make
such representations and warranties to the Holders participating in such underwritten offering and to the underwriters, in form, substance and scope as are
customarily made by the Company to underwriters in primary underwritten offerings of convertible debt securities and covering matters set forth in the Purchase Agreement (it being understood and
agreed that representations and warranties comparable to those contemplated by the Purchase Agreement, as modified to reflect a registered offering, shall be satisfactory); 

        (ii)   obtain
opinions of counsel to the Company (which counsel and opinions in form, scope and substance shall be reasonably satisfactory to the underwriters, it being
understood and agreed that opinions comparable to those contemplated by the Purchase Agreement, as modified to reflect a registered offering, shall be satisfactory) addressed to each Holder
participating in such underwritten offering and the underwriters, covering such matters as are customarily covered in opinions requested in primary underwritten offerings by the Company of convertible
debt securities (it being understood and agreed that the matters to be covered by such opinions shall, in form, scope and substance, be comparable to the matters covered by the opinions contemplated
by the Purchase Agreement, as modified to reflect a registered offering), dated as of the date of the opinion and as of the date of effectiveness of the Shelf Registration Statement or most recent
post-effective amendment thereto, as the case may be, and shall include a statement of negative assurance (in form, scope and substance comparable to that contained in the opinions
contemplated by the Purchase Agreement), as to the absence from the Shelf Registration Statement and the Prospectus, including the documents incorporated by reference therein, of an untrue statement
of a material fact or the omission of a material fact required to be stated therein or necessary to make the statements therein not misleading; 

        (iii)  obtain
"cold comfort" letters and updates thereof from the Company's independent certified public accountants (and, if necessary, any other independent certified
public accountants of any subsidiary of the Company or of any business acquired by the Company for which financial statements are, or are required to be, included in the Shelf Registration Statement)
addressed to the underwriters, if any, and use reasonable efforts to have such letter addressed to the selling Holders of Registrable Securities (to the extent consistent with Statement on Auditing
Standards No. 72 of the American Institute of Certified Public Accounts), such letters to be in customary form and covering matters of the type customarily 

10

 

covered
in "cold comfort" letters to underwriters in connection with similar underwritten offerings of the Company; 

        (iv)  if
an underwriting agreement is entered into, cause the same to set forth indemnification provisions and procedures substantially equivalent to the indemnification
provisions and procedures set forth in
Section 4 hereof with respect to the underwriters and all other parties to be indemnified pursuant to said Section; and 

        (v)   deliver
such documents and certificates as may be reasonably requested and as are customarily delivered in similar offerings to the Majority Holders of the Registrable
Securities being sold and the managing underwriters, if any; 

the
above shall be done at (x) the effectiveness of such Shelf Registration Statement (and each post-effective amendment thereto) and (y) each closing under any underwriting
or similar agreement as and to the extent required thereunder; 

        (O)  in
the case of a Shelf Registration, make available for inspection by representatives of the Holders of the Registrable Securities, any underwriters participating in any
disposition pursuant to a Shelf Registration Statement, and any counsel or accountant retained by any of the foregoing, all financial and other records, pertinent corporate documents and properties of
the Company reasonably requested by any such persons, and cause the respective officers, directors, employees and any other agents of the Company to supply all information reasonably requested by any
such representative, underwriter, counsel or accountant in connection with the Shelf Registration Statement, and make such representatives of the Company available for discussion of such documents as
shall be reasonably requested by the Initial Purchasers in order to enable such persons to conduct a reasonable investigation within the meaning of Section 11 of the 1933 Act;  provided,
however, that such persons shall first agree in writing with the Company that any information
that is reasonably and in good faith designated by the Company in writing as confidential at the time of delivery of such information shall be kept confidential by such persons, unless
(i) disclosure of such information is required by court or administrative order or is necessary to respond to inquiries of regulatory authorities, (ii) disclosure of such information is
required by law (including any disclosure requirements pursuant to federal securities laws in connection with the filing of the Shelf Registration Statement or the use of any Prospectus),
(iii) such information becomes generally available to the public other than as a result of a disclosure or failure to safeguard such information by such persons or (iv) such information
becomes available to such persons from a source other than the Company and its subsidiaries and such source is not known by such persons to be bound by a confidentiality agreement; and  provided,
further, that the foregoing inspection and information gathering shall be coordinated by
(x) the managing underwriter in connection with any underwritten offering pursuant to a Shelf Registration and (y) the Holder or Holders designated by the participating Majority Holders
in connection with any non-underwritten offering pursuant to a Shelf Registration, together with one counsel designated by and on behalf of such persons; 

        (P)   a
reasonable time prior to filing any Shelf Registration Statement, any Prospectus forming a part thereof, any amendment to such Shelf Registration Statement or
amendment or supplement to such Prospectus, provide copies of such document to the Initial Purchasers, to counsel for the Holders, if any, and to the underwriter or underwriters of an underwritten
offering of Registrable Securities, if any, make such changes in any such document prior to the filing thereof as the Initial Purchasers, the counsel to the Holders or the underwriter or underwriters
reasonably request and not file any such document in a form to which the Majority Holders, the Initial Purchasers on behalf of the Holders of Registrable Securities, counsel for the Holders of
Registrable Securities or any underwriter shall not have previously been advised and furnished a copy of or to which the Majority Holders, the Initial Purchasers on behalf of the Holders of
Registrable Securities, counsel 

11

 

to
the Holders of Registrable Securities or any underwriter shall reasonably object (which objection shall be made within a reasonable period of time), and make the representatives of the Company
available for discussion of such document as shall be reasonably requested by the Holders of Registrable Securities, the Initial Purchasers on behalf of such Holders, counsel for the Holders of
Registrable Securities or any underwriter; 

        (Q)  use
its reasonable commercial efforts to (i) confirm that the ratings of the Notes will apply to the Notes covered by the Shelf Registration Statement, or
(ii) if the Notes were not previously rated, cause the Notes covered by the Shelf Registration Statement to be rated with the appropriate rating agencies, if so requested by the Majority
Holders of Securities covered by such Shelf Registration Statement, or by the managing underwriters, if any; 

        (R)  otherwise
comply with all applicable rules and regulations of the SEC and make available to its security holders, as soon as reasonably practicable, an earnings
statement covering at least 12 months which shall satisfy the provisions of Section 11(a) of the 1933 Act and Rule 158 thereunder; 

        (S)   use
its reasonable commercial efforts to cause the Shares to be listed on the New York Stock Exchange; and 

        (T)  cooperate
and assist in any filings required to be made with the NASD and in the performance of any due diligence investigation by any underwriter and its counsel
(including any "qualified independent underwriter" that is required to be retained in accordance with the rules and regulations of the NASD). 

        Each
Holder agrees that upon receipt of any notice from the Company of (a) the happening of any event or the discovery of any facts, each of the kind described in Sections
3(F)(ii), (iii) or (v) hereof or (b) the Company's determination, in its reasonable judgment, upon advice of counsel, that the continued effectiveness and use of the Shelf
Registration Statement or the Prospectus included in the Shelf Registration Statement would (x) require the disclosure of material information, which the Company has
a bona fide business reason for preserving as confidential, or (y) interfere with any financing, acquisition, corporate reorganization or other material transaction involving the Company or any
of its subsidiaries, such Holder will forthwith discontinue disposition of Registrable Securities pursuant to such Shelf Registration Statement or Prospectus until (I) the receipt by such
Holder of either copies of the supplemented or amended Prospectus contemplated by Section 3(K) hereof (and, if so directed by the Company, such Holder will deliver to the Company (at its
expense) all copies in its possession of the Prospectus covering such Registrable Securities current at the time of receipt of such notice), or (II) notice in writing from the Company that such
Holder may resume disposition of Registrable Securities pursuant to such Shelf Registration Statement or Prospectus. If the Company shall give any such notice described in clause (a) above to
suspend the disposition of Registrable Securities pursuant to a Shelf Registration Statement as a result of the happening of any event or the discovery of any facts, each of the kind described in
Section 3(F)(ii), (iii) or (v) hereof, the Company shall be deemed to have used its reasonable commercial efforts to keep such Shelf Registration Statement effective during such
Suspension Period; provided that the Company shall use its reasonable commercial efforts to file and have declared effective (if an amendment) as soon
as practicable an amendment or supplement to such Shelf Registration Statement. The Company shall extend the period during which such Shelf Registration Statement shall be maintained effective or the
Prospectus shall be used pursuant to this Agreement by the number of days during the period from and including the date of the giving of the notice described in clauses (a) and (b) above
to and including the date when the Holders shall have received copies of the supplemented or amended Prospectus necessary to resume such dispositions or notification that they may resume such
disposition under an existing Prospectus. 

        If
any of the Registrable Securities covered by any Shelf Registration Statement are to be sold in an underwritten offering, the underwriter or underwriters and manager or managers that
will manage 

12

 

such
offering will be selected by the Majority Holders of such Registrable Securities included in such offering and shall be reasonably acceptable to the Company. No Holder of Registrable Securities
may participate in any underwritten registration hereunder unless such Holder (a) agrees to sell such Holder's Registrable Securities on the basis provided in any underwriting arrangements
approved by the persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other
documents required under the terms of such underwriting arrangements. 

        Each
Holder agrees, by acquisition of the Registrable Securities, that such Holder shall not be entitled to sell any of such Registrable Securities pursuant to the Shelf Registration
Statement or to receive a Prospectus related thereto, unless such Holder has furnished the Company with a Notice and Questionnaire. Each Notice Holder agrees to furnish to the Company all information
required to be disclosed in order to make the information previously furnished to the Company by such Holder not misleading and any other information regarding such Notice Holder and the distribution
of such Registrable Securities as may be required to be disclosed in the Shelf Registration Statement under applicable law or pursuant to the SEC's comments. Each Holder further agrees not to sell any
Registrable Securities pursuant to the Shelf Registration Statement without delivering, or causing to be delivered a Prospectus to the purchaser thereof. 

        4.    Indemnification; Contribution.    

        (A)  The
Company agrees to indemnify and hold harmless each Holder covered by the Shelf Registration Statement, each Initial Purchaser, the directors, officers, employees,
Affiliates and agents of each such Holder or Initial Purchaser and each person who controls any such Holder or Initial Purchaser within the meaning of either the 1933 Act or the 1934 Act
(collectively, the "Section 4 Persons") against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the 1933 Act, the
1934 Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are
based upon any untrue statement or alleged untrue statement of a material fact contained in the Shelf Registration Statement as originally filed or in any amendment thereof, or in any preliminary
Prospectus or the Prospectus, or in any amendment thereof or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein (in the case of any preliminary Prospectus or the Prospectus, in the light of the circumstances under which they were made) not misleading,
and agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by it in connection with investigating or defending any such loss, claim, damage,
liability or action; provided, however, that the Company will not be liable in any such case to the
extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon
and in conformity with written information furnished to the Company by or on behalf of the party claiming indemnification specifically for inclusion therein and  provided, further that the foregoing indemnity agreement with respect to any preliminary Prospectus
shall not inure to the benefit of any Section 4 Person if it shall be established that a copy of the Prospectus (as amended or supplemented if the Company shall have furnished any amendments or
supplements thereto) was not sent or given by or on behalf of such Section 4 Person to the Person asserting such losses, claims, damages or liabilities, at or prior to the written confirmation
of the sale of the Securites to such Person and if the Prospectus (as so amended or supplemented) would have cured the defect giving rise to such loss, claim, damage or liability, and if the Company
had previously furnished copies thereof to such Section 4 Persons. This indemnity agreement shall be in addition to any liability that the Company may otherwise have. 

13

 

        The
Company also agrees to indemnify as provided in this Section 4(A) or contribute as provided in Section 4(D) hereof to Losses of each underwriter, if any, of Securities
registered under the Shelf Registration Statement, its directors, officers, employees, Affiliates or agents and each person who controls such underwriter on substantially the same basis as that of the
indemnification of the Initial Purchasers and the selling Holders provided in this paragraph (a) and shall, if requested by any Holder, enter into an underwriting agreement reflecting such
agreement, as provided in Section 3(N) hereof. 

        (B)  Each
Holder covered by the Shelf Registration Statement (including each Initial Purchaser that is a Holder, in such capacity) severally and not jointly agrees to
indemnify and hold harmless the Company, each of its directors, each of its officers who signs the Shelf Registration Statement and each person who controls the Company within the meaning of either
the 1933 Act or the 1934 Act, to the same extent as the foregoing indemnity from the Company to each such Holder, but only with reference to
written information relating to such Holder furnished to the Company by or on behalf of such Holder specifically for inclusion in the documents referred to in the foregoing indemnity. This indemnity
agreement shall be acknowledged by each Notice Holder that is not an Initial Purchaser in such Notice Holder's Notice and Questionnaire and shall be in addition to any liability that any such Notice
Holder may otherwise have. 

        (C)  Promptly
after receipt by an indemnified party under this Section 4 of notice of the commencement of any action, such indemnified party will, if a claim in
respect thereof is to be made against the indemnifying party under this Section 4, notify the indemnifying party in writing of the commencement thereof; but the failure so to notify the
indemnifying party (i) will not relieve it from liability under paragraph (A) or (B) above unless and to the extent it did not otherwise learn of such action and such failure
results in the forfeiture by the indemnifying party of substantial rights and defenses; and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified
party other than the indemnification obligation provided in paragraph (A) or (B) above. The indemnifying party shall be entitled to appoint counsel (including local counsel) of the
indemnifying party's choice at the indemnifying party's expense to represent the indemnified party in any action for which indemnification is sought (in which case the indemnifying party shall not
thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by the indemnified party or parties except as
set forth below); provided, however, that such counsel shall be reasonably satisfactory to the
indemnified party. Notwithstanding the indemnifying party's election to appoint counsel (including local counsel) to represent the indemnified party in an action, the indemnified party shall have the
right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel
chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest; (ii) the actual or potential defendants in, or targets of, any such
action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be legal defenses available to it and/or other indemnified
parties that are different from or additional to those available to the indemnifying party; (iii) the indemnifying party shall not have employed counsel reasonably satisfactory to the
indemnified party to represent the indemnified party within a reasonable time after notice of the institution of such action; or (iv) the indemnifying party shall authorize the indemnified
party to employ separate counsel at the expense of the indemnifying party. It is understood, however, that the Company shall not, in connection with any one such suit or proceeding or separate but
substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more
than one separate firm of attorneys at any time for all such indemnified parties, which shall be designated in writing by the Citigroup Global Markets Inc. An indemnifying party will not,
without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened 

14

 

claim,
action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or
action) unless such settlement, compromise or consent (i) includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding
and (ii) does not include a statement as to or an admission of fault, culpability or failure to act by or on behalf of any indemnified party. The indemnifying party shall not be liable for any
settlement of any proceeding effected without its written consent, but if settled with such consent the indemnifying party agrees to indemnify the indemnified party from and against any loss or
liability by reason of such settlement. 

        (D)  In
the event that the indemnity provided in paragraph (A) or (B) of this Section 4 is unavailable to or insufficient to hold harmless an indemnified
party for any reason, then each applicable indemnifying party shall have a joint and several obligation to contribute to the aggregate losses, claims, damages and liabilities (including legal or other
expenses reasonably incurred in connection with investigating or defending loss, claim, liability, damage or action) (collectively "Losses") to which such indemnified party may be subject in such
proportion as is appropriate to reflect the relative benefits received by such indemnifying party, on the one hand, and such indemnified party, on the other hand, from the Initial Placement and the
Shelf Registration Statement which resulted in such Losses; provided, however, that in no case shall any
Initial Purchaser be responsible, in the aggregate, for any amount in excess of the purchase discount or commission applicable to such Security, as set forth in the Purchase Agreement, nor shall any
underwriter be responsible for any amount in excess of the underwriting discount or commission applicable to the securities purchased by such underwriter under the Shelf Registration Statement which
resulted in such Losses. If the allocation provided by the immediately preceding sentence is unavailable for any reason, the indemnifying party and the indemnified party shall contribute in such
proportion as is appropriate to reflect not only such relative benefits but also the relative fault of such indemnifying party, on the one hand, and such indemnified party, on the other hand, in
connection with the statements or omissions which resulted in such Losses as well as any other relevant equitable considerations. Benefits received by the Company shall be deemed to be equal to the
total net proceeds from the Initial Placement (before deducting expenses) as set forth in the Offering Memorandum. Benefits received by the Initial Purchasers shall be deemed to be equal to the total
purchase discounts and commissions as set forth in the Purchase Agreement, and benefits received by any other Holders shall be deemed to be equal to the value of receiving Securities registered under
the 1933 Act. Benefits received by any underwriter shall be deemed to be equal to the total underwriting discounts and commissions, as set forth on the cover page of the Prospectus forming a part of
the Shelf Registration Statement which resulted in such Losses. Relative fault shall be determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material
fact or omission or alleged omission to state a material fact relates to information provided by the indemnifying party, on the one hand, or by the indemnified party, on the other hand, the intent of
the parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The parties agree that it would not be just and equitable if
contribution were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or any other method of allocation which does not take account of the equitable
considerations referred to above. Notwithstanding the provisions of this paragraph (D), no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933
Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 4, each person who controls a Holder within the
meaning of either the 1933 Act or the 1934 Act and each director, officer, employee and agent of such Holder shall have the same rights to contribution as such Holder, and each person who controls the
Company within the meaning of either the 1933 or the 1934 Act, each officer of the Company who shall have 

15

 

signed
the Shelf Registration Statement and each director of the Company shall have the same rights to contribution as the Company, subject in each case to the applicable terms and conditions of this
paragraph (D). 

        (E)  The
provisions of this Section 4 shall remain in full force and effect, regardless of any investigation made by or on behalf of any Holder or the Company or any
of the indemnified persons referred to in this Section 4, and shall survive the sale by a Holder covered by the Shelf Registration Statement. 

        (F)    Underwritten Offering.    Any Holder of Registrable Securities who desires to do so may sell Registrable
Securities (in whole or in part) in an underwritten offering; provided that (i) the Holders of at least 331/3% in aggregate principal amount of the Registrable Securities then
covered by the Shelf Registration Statement shall request such an offering and (ii) at least such aggregate principal amount of such Registrable Securities shall be included in such offering;
and provided further that no underwritten offering may be conducted without the prior agreement of the Company. Upon receipt of such a request and consent by the Company to such request, the Company
shall provide all Holders of Registrable Securities written notice of the request, which notice shall inform such Holders that they have the opportunity to participate in the offering. In any such
underwritten offering, the investment banker or bankers and manager or managers that will administer the offering will be selected by, and the underwriting arrangements with respect thereto (including
the size of the offering) will be approved by, the Majority Holders to be included in such offering; provided, however, that such investment bankers and managers and underwriting arrangements must be
reasonably satisfactory to the Company. No Holder may participate in any underwritten offering contemplated hereby unless (a) such Holder agrees to sell such Holder's Registrable Securities to
be included in the underwritten offering in accordance with any approved underwriting arrangements, (b) such Holder completes and executes all reasonable questionnaires, powers of attorney,
indemnities, underwriting agreements, lock-up letters and other documents required under the terms of such approved underwriting arrangements, and (c) such Holder returns a
completed and signed Notice and Questionnaire to the Company in accordance with this Agreement within a reasonable amount of time before such underwritten offering. The Holders participating in any
underwritten offering shall be responsible for any underwriting discounts and commissions and fees and, subject to Section 2.2 hereof, expenses of their own counsel. 

        5.    Miscellaneous.    

        5.1    Rule 144 and Rule 144A.    For so long as the Company is subject to the reporting requirements of
Section 13 or 15 of the 1934 Act, the Company covenants that it will file the reports required to be filed by it under the 1933 Act and Section 13(a) or 15(d) of the 1934 Act and the
rules and regulations adopted by the SEC thereunder. If the Company ceases to be so required to file such reports, the Company covenants that it will upon the request of any Holder of Registrable
Securities (A) make publicly available such information as is necessary to permit sales pursuant to Rule 144 under the 1933 Act, (B) deliver such information to a prospective
purchaser as is necessary to permit sales pursuant to Rule 144A under the 1933 Act and (C) take such further action that is reasonable in the circumstances, in each case, to the extent
required from time to time to enable such Holder to sell its Registrable Securities without registration under the 1933 Act within the limitation of the exemptions provided by
(i) Rule 144 under the 1933 Act, as such Rule may be amended from time to time, (ii) Rule 144A under the 1933 Act, as such Rule may be amended from time to time or
(iii) any similar rules or regulations hereafter adopted by the SEC. Upon the request of any Holder of Registrable Securities, the Company will deliver to such Holder a written statement as to
whether it has complied with such requirements. 

16

 

        5.2    No Inconsistent Agreements.    The Company has not entered into and the Company will not after the date of this
Agreement enter into any agreement which is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof. The
rights granted to the Holders hereunder do not and will not for the term of this Agreement in any way conflict with the rights granted to the holders of the Company's other issued and outstanding
securities under any such agreements. 

        5.3    Amendments and Waivers.    The provisions of this Agreement may not be amended, qualified, modified or
supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Company has obtained the written consent of the Majority Holders of the Registrable
Securities outstanding; provided that, with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser hereunder, the
Company shall obtain the written consent of each such Initial Purchaser against which such amendment, qualification, supplement, waiver or consent is to be effective;  provided, further, that no amendment, qualification, supplement, waiver or consent with respect to
Section 2.4 hereof shall be effective as against any Holder of Registrable Securities unless consented to in writing by such Holder; and  provided, further, that the provisions of this Section 5.3 may not be amended, qualified,
modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Company has obtained the written consent of the Initial Purchasers and each
Holder. 

        5.4    Notices.    All notices and other communications provided for or permitted hereunder shall be made in writing
by hand delivery, registered first-class mail, telex, telecopier, or any courier guaranteeing overnight delivery (a) if to a Holder, at the most current address given by such Holder to the
Company by means of a notice given in accordance with the provisions of this Section 5.4, which address initially is the address set forth in the Purchase Agreement with respect to the Initial
Purchasers; and (b) if to the Company, initially at the Company's address set forth in the Purchase Agreement, and thereafter at such other address of which notice is given in accordance with
the provisions of this Section 5.4. 

        All
such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; two Business Days after being deposited in the mail,
postage prepaid, if mailed; when answered back, if telexed; when receipt is acknowledged, if telecopied; and on the next Business Day if timely delivered to an air courier guaranteeing overnight
delivery. 

        Copies
of all such notices, demands or other communications shall be concurrently delivered by the person giving the same to the Trustee under the Indenture, at the address specified in
such Indenture. 

        5.5    Successor and Assigns.    This Agreement shall inure to the benefit of and be binding upon the successors,
assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders and the indemnified persons referred to in
Section 4 hereof; provided that nothing herein shall be deemed to permit any assignment, transfer or other disposition of Registrable Securities
in violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Securities, in any manner, whether by operation of law or otherwise,
such Registrable Securities shall be held subject to all of the terms of
this Agreement, and by taking and holding such Registrable Securities such person shall be conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of this
Agreement, including the restrictions on resale set forth in this Agreement and, if applicable, the Purchase Agreement, and such person shall be entitled to receive the benefits hereof. 

        5.6    Third Party Beneficiaries.    The Initial Purchasers (even if the Initial Purchasers are not Holders of
Registrable Securities) shall be third party beneficiaries to the agreements made 

17

 

hereunder
between the Company, on the one hand, and the Holders, on the other hand, and shall have the right to enforce such agreements directly to the extent they deem such enforcement necessary or
advisable to protect their rights or the rights of Holders hereunder. Each Holder of Registrable Securities shall be a third party beneficiary to the agreements made hereunder between the Company, on
the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to protect its
rights hereunder. 

        5.7    Specific Performance.    Without limiting the remedies available to the Initial Purchasers and the Holders, the
Company acknowledges that any failure by the Company to comply with its obligations under Sections 2.1 through 2.4 hereof may result in material irreparable injury to the Initial Purchasers or the
Holders for which there is no adequate remedy at law, that it would not be possible to measure damages for such injuries precisely and that, in the event of any such failure, the Initial Purchasers or
any Holder may obtain such relief as may be required to specifically enforce the Company's obligations under Sections 2.1 through 2.4 hereof. 

        5.8    Restriction on Resales.    Until the expiration of two years after the Closing Date, the Company will not, and
will cause its "affiliates" (as such term is defined in Rule 144(a)(1) under the 1933 Act) not to, resell any Securities which are "restricted securities" (as such term is defined under
Rule 144(a)(3) under the 1933 Act) that have been reacquired by any of them and shall immediately upon any purchase of any such Securities submit such Securities to the Trustee for
cancellation; provided that after the expiration of such two-year period, any such affiliate reselling Securities that have been acquired by it shall comply with Rule 144 under the
1933 Act in connection with such sale. 

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

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

        5.11    GOVERNING LAW.    THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN THE STATE OF NEW YORK. THE PARTIES HERETO EACH HEREBY WAIVE ANY RIGHT TO TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT. 

        5.12    Severability.    In the event that any one or more of the provisions contained herein, or the application
thereof in any circumstance, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be in any way impaired or affected thereby, it being intended that all of the rights and privileges of the parties shall be enforceable to the fullest
extent permitted by law. 

        5.13    Entire Agreement.    This Agreement and other writings referred to herein (including the Indenture and the
Purchase Agreement) represent the entire agreement among the parties hereto with respect to the subject matter hereof and supercedes and replaces any and all prior agreements and understandings,
whether oral or written, with respect thereto. 

18

 

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

	 	 	BEAZER HOMES USA, INC.
	

 	
 	

By:	
 	

/s/ Cory J. Boydston

	 	 	 	 	Name: Cory J. Boydston
	 	 	 	 	Title: Vice President
	

 	
 	

APRIL CORPORATION

BEAZER ALLIED COMPANIES HOLDINGS, INC.

BEAZER HOMES CORP.

BEAZER HOMES HOLDINGS CORP.

BEAZER HOMES INVESTMENT CORP.

BEAZER HOMES SALES ARIZONA, INC.

BEAZER HOMES TEXAS HOLDINGS, INC.

BEAZER MORTGAGE CORPORATION

BEAZER REALTY CORP.

BEAZER REALTY, INC.

BEAZER/SQUIRES REALTY, INC.

CROSSMANN COMMUNITIES OF NORTH CAROLINA, INC.

CROSSMANN COMMUNITIES OF OHIO, INC.

CROSSMANN INVESTMENTS, INC.

CROSSMANN MANAGEMENT INC.

CROSSMANN MORTGAGE CORP.

CUTTER HOMES, LTD.

DELUXE HOMES OF LAFAYETTE, INC.

DELUXE HOMES OF OHIO, INC.

HOMEBUILDERS TITLE SERVICES OF VIRGINIA, INC.

HOMEBUILDERS TITLE SERVICES, INC.

BEAZER REALTY, INC., fka MERIT REALTY, INC.
	

 	
 	

By:	
 	

/s/ Cory J. Boydston

	 	 	 	 	Name: Cory J. Boydston
	 	 	 	 	Title: Vice President
	 	 	 	 	 

19

 

	

 	
 	

BEAZER CLARKSBURG, LLC
	

 	
 	

By:	
 	

BEAZER HOMES CORP., its managing partner
	

 	
 	

By:	
 	

/s/ Cory J. Boydston

	 	 	 	 	Name: Cory J. Boydston
	 	 	 	 	Title: Vice President
	

 	
 	

BEAZER HOMES TEXAS, L.P.
	

 	
 	

By:	
 	

BEAZER HOMES TEXAS HOLDINGS, INC., its managing partner
	

 	
 	

By:	
 	

/s/ Cory J. Boydston

	 	 	 	 	Name: Cory J. Boydston
	 	 	 	 	Title: Vice President
	

 	
 	

BEAZER SPE, LLC
	

 	
 	

By:	
 	

BEAZER HOMES CORP., its managing member
	

 	
 	

By:	
 	

/s/ Cory J. Boydston

	 	 	 	 	Name: Cory J. Boydston
	 	 	 	 	Title: Vice President
	

 	
 	

CROSSMANN COMMUNITIES OF TENNESSEE, LLC
	

 	
 	

By:	
 	

CROSSMANN COMMUNITIES OF NORTH CAROLINA, INC., its managing member
	

 	
 	

By:	
 	

/s/ Cory J. Boydston

	 	 	 	 	Name: Cory J. Boydston
	 	 	 	 	Title: Vice President
	 	 	 	 	 

20

 

	

 	
 	

CROSSMANN COMMUNITIES PARTNERSHIP
	

 	
 	

By:	
 	

BEAZER HOMES INVESTMENT CORP., its partner
	

 	
 	

By:	
 	

/s/ Cory J. Boydston

	 	 	 	 	Name: Cory J. Boydston
	 	 	 	 	Title: Vice President
	

 	
 	

PARAGON TITLE, LLC
	

 	
 	

By:	
 	

BEAZER HOMES INVESTMENT CORP., its partner
	

 	
 	

By:	
 	

/s/ Cory J. Boydston

	 	 	 	 	Name: Cory J. Boydston
	 	 	 	 	Title: Vice President
	

 	
 	

PINEHURST BUILDERS LLC
	

 	
 	

By:	
 	

CROSSMANN COMMUNITIES OF TENNESSEE, LLC, its managing partner
	

 	
 	

By:	
 	

CROSSMANN COMMUNITIES OF NORTH CAROLINA, INC., its managing member
	

 	
 	

By:	
 	

/s/ Cory J. Boydston

	 	 	 	 	Name: Cory J. Boydston
	 	 	 	 	Title: Vice President
	

 	
 	

TEXAS LONE STAR TITLE, L.P.
	

 	
 	

By:	
 	

BEAZER HOMES TEXAS HOLDINGS, INC., its managing partner
	

 	
 	

By:	
 	

/s/ Cory J. Boydston

	 	 	 	 	Name: Cory J. Boydston
	 	 	 	 	Title: Vice President
	 	 	 	 	 

21

 

	

 	
 	

TRINITY HOMES LLC
	

 	
 	

By:	
 	

BEAZER HOMES INVESTMENT CORP., its manager
	

 	
 	

By:	
 	

/s/ Cory J. Boydston

	 	 	 	 	Name: Cory J. Boydston
	 	 	 	 	Title: Vice President

22

 

        The
foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date first above written. 

CITIGROUP
GLOBAL MARKETS INC.

UBS SECURITIES LLC

BANC ONE CAPITAL MARKETS, INC.

DEUTSCHE BANK SECURITIES INC.

WACHOVIA CAPITAL MARKETS, LLC

BNP PARIBAS SECURITIES CORP. 

	

By:	
 	

CITIGROUP GLOBAL MARKETS INC.	
 	

 
	

By:	
 	

/s/ Michael S. Weiss
	
 	

 
	Name:	 	Michael S. Weiss	 	 
	Title:	 	Vice President	 	 

23

QuickLinks

EXHIBIT 4.3

BEAZER HOMES USA, INC. 4 5/8% Convertible Senior Notes due 2024 REGISTRATION RIGHTS AGREEMENT

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