Document:

Registration Rights Agreement

 Exhibit 10.3 

 
  
 REGISTRATION RIGHTS AGREEMENT 
 Dated as of November 24, 2010 

Among 
 WEST
CORPORATION, 
 THE GUARANTORS SIGNATORY HERETO 
 and 
 DEUTSCHE BANK SECURITIES INC., 

GOLDMAN, SACHS & CO. 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 
 MORGAN
STANLEY & CO. INCORPORATED 
 and 
 WELLS FARGO SECURITIES, LLC 
 7 7/8% Senior Notes due 2019 

 
  

 TABLE OF CONTENTS 

 

					
	 	  	 	  	Page
			
	1.	  	Definitions	  	1
			
	2.	  	Exchange Offer	  	4
			
	3.	  	Shelf Registration	  	8
			
	4.	  	[Reserved]	  	9
			
	5.	  	Additional Interest	  	9
			
	6.	  	Registration Procedures	  	10
			
	7.	  	Registration Expenses	  	17
			
	8.	  	Indemnification and Contribution	  	17
			
	9.	  	Rule 144A	  	21
			
	10.	  	Underwritten Registrations	  	22
			
	 11.
	  	Miscellaneous	  	22

  
 -i-

 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is dated as of November 24, 2010, among WEST CORPORATION, a
Delaware corporation (the “Issuer”), the guarantors signatory hereto (the “Guarantors”) and DEUTSCHE BANK SECURITIES INC., GOLDMAN, SACHS & CO., MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,
MORGAN STANLEY & CO. INCORPORATED and WELLS FARGO SECURITIES, LLC, as representatives (the “Representatives”) of the several initial purchasers (the “Initial Purchasers”) named on Schedule I to the
Purchase Agreement (as defined below). 
 This Agreement is entered into in connection with the Purchase
Agreement, dated as of November 9, 2010 (the “Purchase Agreement”), by and among the Issuer and the Initial Purchasers, which provides for, among other things, the sale by the Issuer to the Initial Purchasers of $650,000,000
aggregate principal amount of the Issuer’s
7 7/8% Senior Notes due 2019 (the
“Notes”). The Notes are issued under an indenture, dated as of the date hereof (as amended or supplemented from time to time, the “Indenture”), among the Issuer, the Guarantors and The Bank of New York Mellon Trust
Company, N.A., as trustee (the “Trustee”). Pursuant to the Purchase Agreement and the Indenture, the Guarantors are required to guarantee (collectively, the “Guarantees”) the Issuer’s obligations under the
Notes and the Indenture. References to the “Securities” shall mean, collectively, the Notes and, when issued, the Guarantees. In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Issuer has agreed to
provide the registration rights set forth in this Agreement for the benefit of the Initial Purchasers and any subsequent holder or holders of the Securities. The execution and delivery of this Agreement is a condition to the Initial Purchasers’
obligations under the Purchase Agreement. 
 The parties hereby agree as follows: 

 

	 	1.	Definitions 

 As used in
this Agreement, the following terms shall have the following meanings: 
 Additional Interest: See Section 5(a)
hereof. 
 Advice: See the last paragraph of Section 6 hereof. 

Agreement: See the introductory paragraphs hereto. 
 Applicable Period: See Section 2(b) hereof. 
 Business Day:
Shall have the meaning ascribed to such term in Rule 14d-1 under the Exchange Act. 
 Effectiveness Date: With respect to
any Shelf Registration Statement, the 90th day after the Filing Date with respect thereto; provided, however, that if the Effectiveness Date would otherwise fall on a day that is not a Business Day, then the Effectiveness Date shall be
the next succeeding Business Day. 

 Effectiveness Period: See Section 3(a) hereof. 

Event Date: See Section 5(b) hereof. 
 Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder. 

Exchange Notes: See Section 2(a) hereof. 
 Exchange Offer: See Section 2(a) hereof. 
 Exchange Offer
Registration Statement: See Section 2(a) hereof. 
 Exchange Securities: See Section 2(a) hereof.

 Filing Date: The 90th day after the delivery of a Shelf Notice as required pursuant to Section 2(c) hereof;
provided, however, that if the Filing Date would otherwise fall on a day that is not a Business Day, then the Filing Date shall be the next succeeding Business Day. 

FINRA: See Section 6(r) hereof. 
 Guarantees: See the introductory paragraphs hereto. 
 Guarantors:
See the introductory paragraphs hereto. 
 Holder: Any holder of a Registrable Security or Registrable Securities.

 Indenture: See the introductory paragraphs hereto. 

Information: See Section 6(n) hereof. 
 Initial Purchasers: See the introductory paragraphs hereto. 
 Initial
Shelf Registration: See Section 3(a) hereof. 
 Inspectors: See Section 6(n) hereof. 

Issue Date: November 24, 2010, the date of original issuance of the Notes. 

Issuer: See the introductory paragraphs hereto. 
 New Guarantees: See Section 2(a) hereof. 
 Notes: See the
introductory paragraphs hereto. 
 Participant: See Section 8(a) hereof. 

  
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 Participating Broker-Dealer: See Section 2(b) hereof. 

Person: An individual, trustee, corporation, partnership, limited liability company, joint stock company, trust, unincorporated
association, union, business association, firm or other legal entity. 
 Private Exchange: See Section 2(b) hereof.

 Private Exchange Notes: See Section 2(b) hereof. 

Prospectus: The prospectus included in any Registration Statement (including, without limitation, any prospectus subject to
completion and a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A or Rule 430C under the Securities Act), as amended or supplemented by
any prospectus supplement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus. 

Purchase Agreement: See the introductory paragraphs hereof. 

Records: See Section 6(n) hereof. 
 Registrable Securities: Each Security upon its original issuance and at all times subsequent thereto, each Exchange Security as to which Section 2(c)(iv) hereof is applicable upon original
issuance and at all times subsequent thereto and each Private Exchange Note (and the related Guarantees) upon original issuance thereof and at all times subsequent thereto, until, in each case, the earliest to occur of (i) a Registration
Statement (other than, with respect to any Exchange Securities as to which Section 2(c)(iv) hereof is applicable, the Exchange Offer Registration Statement) covering such Security, Exchange Security or Private Exchange Note (and the related
Guarantees) has been declared effective by the SEC and such Security, Exchange Security or such Private Exchange Note (and the related Guarantees), as the case may be, has been disposed of in accordance with such effective Registration Statement,
(ii) such Security has been exchanged pursuant to the Exchange Offer for an Exchange Security or Exchange Securities that may be resold without restriction under state and federal securities laws, (iii) such Security, Exchange Security or
Private Exchange Note (and the related Guarantees), as the case may be, ceases to be outstanding for purposes of the Indenture or (iv) the date which is two years after the date the Notes were originally issued. 

Registration Statement: Any registration statement of the Issuer that covers any of the Securities, the Exchange Securities or the
Private Exchange Notes (and the related Guarantees) filed with the SEC under the Securities Act, including, in each case, the Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits,
and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. 
 Rule
144: Rule 144 under the Securities Act. 
 Rule 144A: Rule 144A under the Securities Act. 

  
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 Rule 405: Rule 405 under the Securities Act. 

Rule 415: Rule 415 under the Securities Act. 
 Rule 424: Rule 424 under the Securities Act. 
 SEC: The U.S.
Securities and Exchange Commission. 
 Securities: See the introductory paragraphs hereto. 

Securities Act: The Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

 Shelf Notice: See Section 2(c) hereof. 
 Shelf Registration: See Section 3(b) hereof. 
 Shelf Registration
Statement: Any Registration Statement relating to a Shelf Registration. 
 Shelf Suspension Period: See
Section 3(a) hereof. 
 Subsequent Shelf Registration: See Section 3(b) hereof. 

TIA: The Trust Indenture Act of 1939, as amended. 
 Trustee: The trustee under the Indenture and the trustee under any indenture (if different) governing the Exchange Securities and Private Exchange Notes (and the related Guarantees). 

Underwritten registration or underwritten offering: A registration in which securities of the Issuer is sold to an underwriter for
reoffering to the public. 
 Except as otherwise specifically provided, all references in this Agreement to acts, laws,
statutes, rules, regulations, releases, forms, no-action letters and other regulatory requirements (collectively, “Regulatory Requirements”) shall be deemed to refer also to any amendments thereto and all subsequent Regulatory
Requirements adopted as a replacement thereto having substantially the same effect therewith; provided that Rule 144 shall not be deemed to amend or replace Rule 144A. 

 

	 	2.	Exchange Offer 

 (a)
Unless the Exchange Offer would violate applicable law or any applicable interpretation of the staff of the SEC, the Issuer shall use its reasonable best efforts to file with the SEC a Registration Statement (the “Exchange Offer Registration
Statement”) on an appropriate registration form with respect to a registered offer (the “Exchange Offer”) to exchange any and all of the Registrable Securities for a like aggregate principal amount of debt securities of the
Issuer (the “Exchange Notes”), guaranteed, to the extent applicable, on an unsecured senior basis by the Guarantors (the “New Guarantees” and, together with the Exchange Notes, the “Exchange
Securities”), that are identical in all material respects to the Notes except that (i) the Exchange Notes shall contain no restrictive legend thereon, (ii) interest thereon shall accrue from the last date on which interest was
paid on such Notes or, if no such interest has been paid, from the Issue Date and (iii) which are entitled to the benefits of the Indenture or a trust indenture which is identical in all material respects to the Indenture (other than such
changes to the Indenture or any such identical trust indenture as are necessary to comply with the TIA) and which, in either case, has been qualified under the TIA. The Exchange Offer shall comply with all applicable tender offer rules and
regulations under the Exchange Act and other applicable laws. The Issuer shall use its reasonable best efforts to (x) keep the Exchange Offer open for at least 20 Business Days (or longer if required by applicable law) after the date that
notice of the Exchange Offer is mailed to Holders; and (y) consummate the Exchange Offer on or prior to the 365th day following the Issue Date. 

  
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 Each Holder (including, without limitation, each Participating Broker-Dealer) that
participates in the Exchange Offer, as a condition to participation in the Exchange Offer, will be required to represent to the Issuer in writing (which may be contained in the applicable letter of transmittal) that: (i) any Exchange Securities
acquired in exchange for Registrable Securities tendered are being acquired in the ordinary course of business of the Person receiving such Exchange Securities, whether or not such recipient is such Holder itself; (ii) at the time of the
commencement or consummation of the Exchange Offer neither such Holder nor, to the actual knowledge of such Holder, any other Person receiving Exchange Securities from such Holder has an arrangement or understanding with any Person to participate in
the distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act; (iii) neither the Holder nor, to the actual knowledge of such Holder, any other Person receiving
Exchange Securities from such Holder is an “affiliate” (as defined in Rule 405) of the Issuer or, if it is an affiliate of the Issuer, it will comply with the registration and prospectus delivery requirements of the Securities Act to
the extent applicable and will provide information to be included in the Shelf Registration Statement in accordance with Section 6 hereof in order to have their Securities included in the Shelf Registration Statement and benefit from the
provisions regarding Additional Interest in Section 5 hereof; (iv) if such Holder is not a broker-dealer, neither such Holder nor, to the actual knowledge of such Holder, any other Person receiving Exchange Securities from such Holder is
engaging in or intends to engage in a distribution of the Exchange Securities; and (v) if such Holder is a Participating Broker-Dealer, such Holder has acquired the Registrable Securities for its own account in exchange for Securities that were
acquired as a result of market-making activities or other trading activities and that it will comply with the applicable provisions of the Securities Act (including, but not limited to, the prospectus delivery requirements thereunder). 

Upon consummation of the Exchange Offer in accordance with this Section 2, the provisions of this Agreement shall continue to apply,
mutatis mutandis, solely with respect to Registrable Securities that are Private Exchange Notes (and the related Guarantees), Exchange Securities as to which Section 2(c)(iv) is applicable and Exchange Securities held by
Participating Broker-Dealers, and the Issuer shall have no further obligation to register Registrable Securities (other than Private Exchange Notes (and the related Guarantees) and Exchange Securities as to which clause 2(c)(iv) hereof applies)
pursuant to Section 3 hereof. 
 No securities other than the Exchange Securities and the Notes (and the related
guarantees) shall be included in the Exchange Offer Registration Statement. 

  
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 (b) The Issuer shall include within the Prospectus contained in the Exchange Offer
Registration Statement a section entitled “Plan of Distribution,” which shall contain a summary statement of (i) the positions taken or policies made by the staff of the SEC with respect to the potential “underwriter” status
of any broker-dealer that is the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of Exchange Notes received by such broker-dealer in the Exchange Offer (a “Participating Broker-Dealer”) and
(ii) whether, to the Issuer’s knowledge, such positions or policies have been publicly disseminated by the staff of the SEC or such positions or policies represent the prevailing views of the staff of the SEC. Such “Plan of
Distribution” section shall also expressly permit, to the extent permitted by applicable policies and regulations of the SEC, the use of the Prospectus by all Participating Broker-Dealers, and include a statement describing the means by which
Participating Broker-Dealers may resell the Exchange Securities in compliance with the Securities Act. 
 The Issuer shall use
its reasonable best efforts to keep the Exchange Offer Registration Statement effective and to amend and supplement the Prospectus contained therein in order to permit such Prospectus to be lawfully delivered by all Persons subject to the prospectus
delivery requirements of the Securities Act for such period of time as is necessary to comply with applicable law in connection with any resale of the Exchange Securities; provided, however, that such period shall not be required to
exceed 90 days, such longer period if extended pursuant to the last paragraph of Section 6 hereof (the “Applicable Period”). 
 If, prior to consummation of the Exchange Offer, the Initial Purchasers hold any Notes acquired by them that have the status of an unsold allotment in the initial distribution, the Issuer, upon the
request of the Initial Purchasers, shall simultaneously with the delivery of the Exchange Notes issue and deliver to the Initial Purchasers, in exchange (the “Private Exchange”) for such Notes held by any such Holder, a like
principal amount of notes (the “Private Exchange Notes”) of the Issuer, guaranteed by the Guarantors, that are identical in all material respects to the Exchange Notes except for the placement of a restrictive legend on such Private
Exchange Notes. The Private Exchange Notes shall be issued pursuant to the same indenture as the Exchange Notes and bear the same CUSIP number as the Exchange Notes if permitted by the CUSIP Service Bureau. 

In connection with the Exchange Offer, the Issuer shall: 

(1) mail, or cause to be mailed, to each Holder of record entitled to participate in the Exchange Offer a copy of the
Prospectus forming part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal and related documents; 
 (2) use their respective reasonable best efforts to keep the Exchange Offer open for not less than 20 Business Days from the date that notice of the Exchange Offer is mailed to Holders (or longer if
required by applicable law); 
 (3) utilize the services of a depositary for the Exchange Offer with an address
in the Borough of Manhattan, The City of New York or in Wilmington, Delaware; 
 (4) permit Holders to withdraw
tendered Notes at any time prior to the close of business, New York time, on the last Business Day on which the Exchange Offer remains open; and 

  
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 (5) otherwise comply in all material respects with all laws, rules and
regulations applicable to the Exchange Offer. 
 As soon as practicable after the close of the Exchange Offer and any Private
Exchange, the Issuer shall: 
 (1) accept for exchange all Registrable Securities validly tendered and not
validly withdrawn pursuant to the Exchange Offer and any Private Exchange; 
 (2) deliver to the Trustee for
cancellation all Registrable Securities so accepted for exchange; and 
 (3) cause the Trustee to authenticate
and deliver promptly to each Holder of Notes, Exchange Notes or Private Exchange Notes, as the case may be, equal in principal amount to the Notes of such Holder so accepted for exchange; provided that, in the case of any Notes held in global
form by a depositary, authentication and delivery to such depositary of one or more replacement Notes in global form in an equivalent principal amount thereto for the account of such Holders in accordance with the Indenture shall satisfy such
authentication and delivery requirement. 
 The Exchange Offer and the Private Exchange shall not be subject to any conditions,
other than that (i) the Exchange Offer or Private Exchange, as the case may be, does not violate applicable law or any applicable interpretation of the staff of the SEC; (ii) no action or proceeding shall have been instituted or threatened
in any court or by any governmental agency which might materially impair the ability of the Issuer to proceed with the Exchange Offer or the Private Exchange, and no material adverse development shall have occurred in any existing action or
proceeding with respect to the Issuer; and (iii) all governmental approvals shall have been obtained, which approvals the Issuer deems necessary for the consummation of the Exchange Offer or Private Exchange, as the case may be. 

The Exchange Securities and the Private Exchange Notes (and related guarantees) shall be issued under (i) the Indenture or
(ii) an indenture identical in all material respects to the Indenture and which, in either case, has been qualified under the TIA or is exempt from such qualification and shall provide that the Exchange Securities shall not be subject to the
transfer restrictions set forth in the Indenture. The Indenture or such indenture shall provide that the Exchange Notes, the Private Exchange Notes and the Notes shall vote and consent together on all matters as one class and that none of the
Exchange Notes, the Private Exchange Notes or the Notes will have the right to vote or consent as a separate class on any matter. 
 (c) If, (i) because of any change in law or in currently prevailing interpretations of the staff of the SEC, the Issuer is not permitted to effect the Exchange Offer, (ii) the Exchange Offer is
not consummated within 365 days of the Issue Date, (iii) any holder of Private Exchange Notes so requests in writing to the Issuer at any time within 30 days after the consummation of the Exchange Offer, or (iv) in the case of any
Holder that participates in the Exchange Offer, such Holder does not receive Exchange Securities on the date of the exchange that may be sold without restriction under state and federal securities laws (other than due solely to the status of such
Holder as an affiliate of the Issuer within the meaning of the Securities Act) and so notifies the Issuer within 30 days after such Holder first becomes aware of such restrictions, in the case of each of clauses (i) to and including
(iv) of this sentence, then the Issuer shall promptly deliver to the Trustee (to deliver to the Holders) written notice thereof (the “Shelf Notice”) and shall file a Shelf Registration pursuant to Section 3 hereof.

  
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	 	3.	Shelf Registration 

 If at
any time a Shelf Notice is delivered as contemplated by Section 2(c) hereof, then: 
 (a) Shelf Registration. The
Issuer shall promptly file with the SEC a Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 covering all of the Registrable Securities (the “Initial Shelf Registration”). The Issuer shall
use its reasonable best efforts to file with the SEC the Initial Shelf Registration on or prior to the Filing Date. The Initial Shelf Registration shall be on Form S-1 or another appropriate form permitting registration of such Registrable
Securities for resale by Holders in the manner or manners designated by them (including, without limitation, one or more underwritten offerings). The Issuer shall not permit any securities other than the Registrable Securities and the Guarantees to
be included in the Initial Shelf Registration or any Subsequent Shelf Registration (as defined below). 
 The Issuer shall use
its reasonable best efforts to cause the Shelf Registration to be declared effective under the Securities Act on or prior to the Effectiveness Date and to keep the Initial Shelf Registration continuously effective under the Securities Act until the
earliest of (i) the date that is two years from the Issue Date (ii) such shorter period ending when all Registrable Securities covered by the Initial Shelf Registration have been sold in the manner set forth and as contemplated in the
Initial Shelf Registration or, if applicable, a Subsequent Shelf Registration or (iii) the date upon which all Registrable Securities have been sold (the “Effectiveness Period”); provided, however, that the
Effectiveness Period in respect of the Initial Shelf Registration shall be extended to the extent required to permit dealers to comply with the applicable prospectus delivery requirements of Rule 174 under the Securities Act and as otherwise
provided herein. Notwithstanding anything to the contrary in this Agreement, at any time, the Issuer may delay the filing of any Initial Shelf Registration Statement or delay or suspend the effectiveness thereof, for a reasonable period of time, but
not in excess of 60 consecutive days or more than three (3) times during any calendar year (each, a “Shelf Suspension Period”), if the Board of Directors of the Issuer determines reasonably and in good faith that (x) the
filing of any such Initial Shelf Registration Statement or the continuing effectiveness thereof would require the disclosure of non-public material information that, in the reasonable judgment of the Board of Directors of the Issuer, would be
detrimental to the Issuer if so disclosed or would otherwise materially adversely affect a financing, acquisition, disposition, merger or other material transaction or (y) such action is required by applicable law. 

(b) Withdrawal of Stop Orders; Subsequent Shelf Registrations. If the Initial Shelf Registration or any Subsequent Shelf
Registration ceases to be effective for any reason at any time during the Effectiveness Period (other than because of the sale of all of the Securities registered thereunder), the Issuer shall, subject to the last sentence of the second paragraph of
Section 3(a) above, use its reasonable best efforts to obtain the prompt withdrawal of any order suspending the effectiveness thereof, and in any event shall file an additional Shelf Registration Statement pursuant to Rule 415 covering all of
the Registrable Securities covered by and not sold under the Initial Shelf Registration or an earlier Subsequent Shelf Registration (each, a “Subsequent Shelf Registration”). If a Subsequent Shelf Registration is filed, the Issuer
shall, subject to the last sentence of the second paragraph of Section 3(a) above, use its reasonable best efforts to cause the Subsequent Shelf Registration to be declared effective under the Securities Act as soon as practicable after such
filing and to keep such subsequent Shelf Registration continuously effective for a period equal to the number of days in the Effectiveness Period less the aggregate number of days during which the Initial Shelf Registration or any Subsequent Shelf
Registration was previously continuously effective. As used herein the term “Shelf Registration” means the Initial Shelf Registration and any Subsequent Shelf Registration. 

  
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 (c) Supplements and Amendments. The Issuer shall promptly supplement and amend the
Shelf Registration if required by the rules, regulations or instructions applicable to the registration form used for such Shelf Registration, if required by the Securities Act, or if reasonably requested by the Holders of a majority in aggregate
principal amount of the Registrable Securities (or their counsel) covered by such Registration Statement with respect to the information included therein with respect to one or more of such Holders, or, if reasonably requested by any underwriter of
such Registrable Securities, with respect to the information included therein with respect to such underwriter. 
  

	 	4.	[Reserved] 

  

	 	5.	Additional Interest 

 (a)
The Issuer and the Initial Purchasers agree that the Holders will suffer damages if the Issuer fails to fulfill its obligations under Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such damages
with precision. Accordingly, the Issuer agrees to pay as liquidated damages, additional interest on the Notes (“Additional Interest”) if (A) the Issuer has not exchanged Exchange Securities for all Securities validly tendered
in accordance with the terms of the Exchange Offer on or prior to the 365th day after the Issue Date, (B) the Issuer is requested or required to file a Shelf Registration Statement and such Shelf Registration Statement is not declared effective
on or prior to the 365th day after the date such Shelf Registration Statement filing was requested or required, as the case may be, or (C), if applicable, a Shelf Registration has been declared effective and such Shelf Registration ceases to be
effective at any time during the Effectiveness Period (other than because of the sale of all of the Securities registered thereunder), then Additional Interest shall accrue on the principal amount of the Notes at a rate of 0.25% per annum
(which rate will be increased by an additional 0.25% per annum for each subsequent 90 day period that such Additional Interest continues to accrue, provided that the rate at which such Additional Interest accrues may in no event exceed
1.00% per annum) (such Additional Interest to be calculated by the Issuer) commencing on the (x) 366th day after the Issue Date, in the case of (A) above and (B) above or (y) the day such Shelf Registration ceases to be
effective in the case of (C) above; provided, however, that upon the exchange of the Exchange Securities for all Securities tendered (in the case of clause (A) of this Section 5), upon the effectiveness of the
applicable Shelf Registration Statement (in the case of (B) of this Section 5), or upon the effectiveness of the applicable Shelf Registration Statement which had ceased to remain effective (in the case of (C) of this Section 5),
Additional Interest on the Notes in respect of which such events relate as a result of such clause (or the relevant subclause thereof), as the case may be, shall cease to accrue. Notwithstanding any other provisions of this Section 5, the
Issuer shall not be obligated to pay Additional Interest provided in Sections 5(a)(B) and (C) during a Shelf Suspension Period permitted by Section 3(a) hereof. 
 (b) The Issuer shall notify the Trustee within one business day after each date on which an event occurs in respect of which Additional Interest is required to be paid (an “Event Date”).
Any amounts of Additional Interest due pursuant to (a) of this Section 5 will be payable in cash semiannually on each May 15 and November 15 (to the holders of record on the May 1 and November 1 immediately preceding
such dates), commencing with the first such date occurring after any such Additional Interest commences to accrue. The amount of Additional Interest will be determined by the Issuer by multiplying the applicable Additional Interest rate by the
principal amount of the Registrable Securities, multiplied by a fraction, the numerator of which is the number of days such Additional Interest rate was applicable during such period (determined on the basis of a 365 day year), and the
denominator of which is 365. 

  
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	 	6.	Registration Procedures 

In connection with the filing of any Registration Statement pursuant to Section 2 or 3 hereof, the Issuer shall effect such
registrations to permit the sale of the securities covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto and in connection with any Registration Statement filed by the Issuer hereunder the
Issuer shall: 
 (a) Prepare and file with the SEC (prior to the applicable Filing Date in the case of a Shelf Registration), a
Registration Statement or Registration Statements as required by Section 2 or 3 hereof, and use its reasonable best efforts to cause each such Registration Statement to become effective and remain effective as provided herein; provided,
however, that if (1) such filing is pursuant to Section 3 hereof or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the
Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period relating thereto from whom the Issuer has received prior written notice that it will be a Participating Broker-Dealer in the
Exchange Offer, before filing any Registration Statement or Prospectus or any amendments or supplements thereto, the Issuer shall furnish to and afford counsel for the Holders of the Registrable Securities covered by such Registration Statement
(with respect to a Registration Statement filed pursuant to Section 3 hereof) or counsel for such Participating Broker-Dealer (with respect to any such Registration Statement), as the case may be, and counsel to the managing underwriters, if
any, a reasonable opportunity to review copies of all such documents (including copies of any documents to be incorporated by reference therein and all exhibits thereto) proposed to be filed (in each case at least three business days prior to such
filing). The Issuer shall not file any Registration Statement or Prospectus or any amendments or supplements thereto if the Holders of a majority in aggregate principal amount of the Registrable Securities covered by such Registration Statement,
their counsel, or the managing underwriters, if any, shall reasonably object. 
 (b) Prepare and file with the SEC such
amendments and post-effective amendments to each Shelf Registration Statement or Exchange Offer Registration Statement, as the case may be, as may be necessary to keep such Registration Statement continuously effective for the Effectiveness Period,
the Applicable Period or until consummation of the Exchange Offer, as the case may be; cause the related Prospectus to be supplemented by any Prospectus supplement required by applicable law, and as so supplemented to be filed pursuant to
Rule 424; and comply with the provisions of the Securities Act and the Exchange Act applicable to it with respect to the disposition of all securities covered by such Registration Statement as so amended or in such Prospectus as so supplemented
and with respect to the subsequent resale of any securities being sold by an Participating Broker-Dealer covered by any such Prospectus in all material respects. The Issuer shall be deemed not to have used its reasonable best efforts to keep a
Registration Statement effective if it voluntarily takes any action that could reasonably be expected to result in selling Holders of the Registrable Securities covered thereby or Participating Broker-Dealers seeking to sell Exchange Securities not
being able to sell such Registrable Securities or such Exchange Securities during that period unless such action is required by applicable law or permitted by this Agreement. 

  
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 (c) If (1) a Shelf Registration is filed pursuant to Section 3 hereof or
(2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during
the Applicable Period relating thereto from whom the Issuer has received written notice that it will be a Participating Broker-Dealer in the Exchange Offer, notify the selling Holders of Registrable Securities (with respect to a Registration
Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer (with respect to any such Registration Statement), as the case may be, their counsel and the managing underwriters, if any, promptly (but in any event
within three Business Days), and confirm such notice in writing, (i) when a Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when
the same has become effective under the Securities Act (including in such notice a written statement that any Holder may, upon request, obtain, at the sole expense of the Issuer, one conformed copy of such Registration Statement or post-effective
amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference and exhibits), (ii) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement
or of any order preventing or suspending the use of any preliminary prospectus or the initiation of any proceedings for that purpose, (iii) if at any time when a prospectus is required by the Securities Act to be delivered in connection with
sales of the Registrable Securities or resales of Exchange Securities by Participating Broker-Dealers the representations and warranties of the Issuer contained in any agreement (including any underwriting agreement) contemplated by
Section 6(m) hereof cease to be true and correct, (iv) of the receipt by the Issuer of any notification with respect to the suspension of the qualification or exemption from qualification of a Registration Statement or any of the
Registrable Securities or the Exchange Securities to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose, (v) of the happening of any event, the
existence of any condition or any information becoming known that makes any statement made in such Registration Statement or related Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material
respect or that requires the making of any changes in or amendments or supplements to such Registration Statement, Prospectus or documents so that, in the case of the Registration Statement, it will not contain any untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the Prospectus, it will not contain any untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (vi) of the Issuer’s determination that a post-effective
amendment to a Registration Statement would be appropriate. 
 (d) Use its reasonable best efforts to prevent the issuance of
any order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of a Prospectus or suspending the qualification (or exemption from qualification) of any of the Registrable Securities or the
Exchange Securities to be sold by any Participating Broker-Dealer for sale in any jurisdiction. 

  
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 (e) If a Shelf Registration is filed pursuant to Section 3 and if requested during the
Effectiveness Period by the managing underwriter or underwriters (if any) or the Holders of a majority in aggregate principal amount of the Registrable Securities being sold in connection with an underwritten offering, (i) as promptly as
practicable incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter or underwriters (if any), such Holders or counsel for either of them reasonably request to be included therein,
(ii) make all required filings of such prospectus supplement or such post-effective amendment as soon as practicable after the Issuer has received notification of the matters to be incorporated in such prospectus supplement or post-effective
amendment, and (iii) supplement or make amendments to such Registration Statement. 
 (f) If (1) a Shelf Registration
is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, furnish to each selling Holder of Registrable Securities (with respect to a Registration Statement filed pursuant to Section 3 hereof) and to each such
Participating Broker-Dealer who so requests (with respect to any such Registration Statement) and to their respective counsel and each managing underwriter, if any, at the sole expense of the Issuer, one conformed copy of the Registration Statement
or Registration Statements and each post-effective amendment thereto, including financial statements and schedules, and, if requested, all documents incorporated or deemed to be incorporated therein by reference and all exhibits. 

(g) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer
Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, deliver to each selling Holder
of Registrable Securities (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer (with respect to any such Registration Statement), as the case may be, their respective counsel,
and the underwriters, if any, at the sole expense of the Issuer, as many copies of the Prospectus or Prospectuses (including each form of preliminary prospectus) and each amendment or supplement thereto and any documents incorporated by reference
therein as such Persons may reasonably request; and, subject to the last paragraph of this Section 6, the Issuer hereby consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders of
Registrable Securities or each such Participating Broker-Dealer, as the case may be, and the underwriters or agents, if any, and dealers, if any, in connection with the offering and sale of the Registrable Securities covered by, or the sale by
Participating Broker-Dealers of the Exchange Securities pursuant to, such Prospectus and any amendment or supplement thereto. 

(h) Prior to any public offering of Registrable Securities or any delivery of a Prospectus contained in the Exchange Offer Registration
Statement by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, use its reasonable best efforts to register or qualify, and to cooperate with the selling Holders of Registrable Securities or each such
Participating Broker-Dealer, as the case may be, the managing underwriter or underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of such
Registrable Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder, Participating Broker-Dealer, or the managing underwriter or underwriters reasonably request in
writing; provided, however, that where Exchange Securities held by Participating Broker-Dealers or Registrable Securities are offered other than through an underwritten offering, the Issuer agrees to cause its counsel to perform Blue
Sky investigations and file registrations and qualifications required to be filed pursuant to this Section 6(h), keep each such registration or qualification (or exemption therefrom) effective during the period such Registration Statement is
required to be kept effective and do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Exchange Securities held by Participating Broker-Dealers or the Registrable Securities covered by the
applicable Registration Statement; provided, however, that the Issuer shall not be required to (A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject
it to general service of process in any such jurisdiction where it is not then so subject or (C) subject itself to taxation in excess of a nominal dollar amount in any such jurisdiction where it is not then so subject. 

  
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 (i) If a Shelf Registration is filed pursuant to Section 3 hereof, cooperate with the
selling Holders of Registrable Securities and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold, which certificates shall not bear any
restrictive legends and shall be in a form eligible for deposit with The Depository Trust Company; and enable such Registrable Securities to be in such denominations (subject to applicable requirements contained in the Indenture) and registered in
such names as the managing underwriter or underwriters, if any, or Holders may request. 
 (j) Use its reasonable best efforts
to cause the Registrable Securities covered by the Registration Statement to be registered with or approved by such other U.S. governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter or
underwriters, if any, to consummate the disposition of such Registrable Securities, except as may be required solely as a consequence of the nature of such selling Holder’s business, in which case the Issuer will cooperate in all respects with
the filing of such Registration Statement and the granting of such approvals. 
 (k) If (1) a Shelf Registration is filed
pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who
seeks to sell Exchange Securities during the Applicable Period, upon the occurrence of any event contemplated by Section 6(c)(v) or 6(c)(vi) hereof, as promptly as practicable prepare and (subject to Section 6(a) hereof) file with the SEC,
at the sole expense of the Issuer, a supplement or post-effective amendment to the Registration Statement or a supplement to 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 being sold thereunder (with respect to a Registration Statement filed pursuant to Section 3 hereof) or to the purchasers of the Exchange Securities to whom such Prospectus
will be delivered by a Participating Broker-Dealer (with respect to any such Registration Statement), any such Prospectus will not 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, in the light of the circumstances under which they were made, not misleading. 
 (l)
Prior to the effective date of the first Registration Statement relating to the Registrable Securities, (i) provide the Trustee with certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust Company
and (ii) provide a CUSIP number for the Registrable Securities. 

  
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 (m) In connection with any underwritten offering of Registrable Securities pursuant to a
Shelf Registration, enter into an underwriting agreement as is customary in underwritten offerings of debt securities similar to the Securities (including, without limitation, a customary condition to the obligations of the underwriters that the
underwriters shall have received “cold comfort” letters and updates thereof in form, scope and substance reasonably satisfactory to the managing underwriter or underwriters from the independent certified public accountants of the Issuer
(and, if necessary, any other independent certified public accountants of the Issuer, or of any business acquired by the Issuer, for which financial statements and financial data are, or are required to be, included or incorporated by reference in
the Registration Statement), addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with underwritten offerings of debt
securities similar to the Securities), and take all such other actions as are reasonably requested by the managing underwriter or underwriters in order to expedite or facilitate the registration or the disposition of such Registrable Securities and,
in such connection, (i) make such representations and warranties to, and covenants with, the underwriters with respect to the business of the Issuer (including any acquired business, properties or entity, if applicable), and the Registration
Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, as are customarily made by Issuer to underwriters in underwritten offerings of debt securities similar to the Securities, and
confirm the same in writing if and when requested; (ii) obtain the written opinions of counsel to the Issuer, and written updates thereof in form, scope and substance reasonably satisfactory to the managing underwriter or underwriters,
addressed to the underwriters covering the matters customarily covered in opinions reasonably requested in underwritten offerings; and (iii) if an underwriting agreement is entered into, the same shall contain indemnification provisions and
procedures no less favorable to the sellers and underwriters, if any, than those set forth in Section 8 hereof (or such other provisions and procedures reasonably acceptable to Holders of a majority in aggregate principal amount of Registrable
Securities covered by such Registration Statement and the managing underwriter or underwriters or agents, if any). The above shall be done at each closing under such underwriting agreement, or as and to the extent required thereunder. 

(n) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer
Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, make available for inspection
by any Initial Purchaser, any selling Holder of such Registrable Securities being sold (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer, as the case may be, any underwriter
participating in any such disposition of Registrable Securities, if any, and any attorney, accountant or other agent retained by any such selling Holder or each such Participating Broker-Dealer (with respect to any such Registration Statement), as
the case may be, or underwriter (any such Initial Purchasers, Holders, Participating Broker-Dealers, underwriters, attorneys, accountants or agents, collectively, the “Inspectors”), upon written request, at the offices where
normally kept, during reasonable business hours, all pertinent financial and other records, pertinent corporate documents and instruments of the Issuer and subsidiaries of the Issuer (collectively, the “Records”), as shall be
reasonably necessary to enable them to exercise any applicable due diligence responsibilities, and cause the officers, directors and employees of the Issuer and any of its subsidiaries to supply all information (“Information”)
reasonably requested by any such Inspector in connection with such due diligence responsibilities. Each Inspector shall agree in writing that it will keep the Records and Information confidential, to use the Information only for due diligence
purposes, to abstain from using the Information as the basis for any market transactions in Securities of the Issuer and that it will not disclose any of the Records or Information that the Issuer determines, in good faith, to be confidential and
notifies the Inspectors in writing are confidential unless (i) the disclosure of such Records or Information is necessary to avoid or correct a misstatement or omission in such Registration Statement or Prospectus, (ii) the release of such
Records or Information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (iii) disclosure of such Records or Information is necessary or advisable, in the opinion of counsel for any Inspector, in
connection with any action, claim, suit or proceeding, directly or indirectly, involving or potentially involving such Inspector and arising out of, based upon, relating to, or involving this Agreement or the Purchase Agreement, or any transactions
contemplated hereby or thereby or arising hereunder or thereunder, or (iv) the information in such Records or Information has been made generally available to the public other than by an Inspector or an “affiliate” (as defined in
Rule 405) thereof; provided, however, that prior notice shall be provided as soon as practicable to the Issuer of the potential disclosure of any information by such Inspector pursuant to clauses (i) or (ii) of this
sentence to permit the Issuer to obtain a protective order (or waive the provisions of this paragraph (o)) and that such Inspector shall take such actions as are reasonably necessary to protect the confidentiality of such information (if
practicable) to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of the Holder or any Inspector. 

  
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 (o) Provide an indenture trustee for the Registrable Securities or the Exchange Securities,
as the case may be, and cause the Indenture or the trust indenture provided for in Section 2(a) hereof, as the case may be, to be qualified under the TIA not later than the effective date of the first Registration Statement relating to the
Registrable Securities; and in connection therewith, cooperate with the trustee under any such indenture and the Holders of the Registrable Securities, to effect such changes (if any) to such indenture as may be required for such indenture to be so
qualified in accordance with the terms of the TIA; and execute, and use its commercially reasonable best efforts to cause such 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 such indenture to be so qualified in a timely manner. 
 (p) Comply in all material respects
with all applicable rules and regulations of the SEC and make generally available to its securityholders with regard to any applicable Registration Statement, a consolidated earning statement satisfying the provisions of Section 11(a) of the
Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 45 days after the end of any fiscal quarter (or 90 days after the end of any 12-month period if such period is a fiscal
year) (i) commencing at the end of any fiscal quarter in which Registrable Securities are sold to underwriters in a firm commitment or best efforts underwritten offering and (ii) if not sold to underwriters in such an offering, commencing
on the first day of the first fiscal quarter of the Issuer, after the effective date of a Registration Statement, which statements shall cover said 12-month periods; provided that this requirement shall be deemed satisfied by the Issuer complying
with Section 4.03 of the Indenture. 
 (q) Upon consummation of the Exchange Offer or a Private Exchange, obtain an opinion
of counsel to the Issuer, in a form customary for underwritten transactions, addressed to the Trustee for the benefit of all Holders of Registrable Securities participating in the Exchange Offer or the Private Exchange, as the case may be, that the
Exchange Securities or Private Exchange Notes (and the related Guarantees), as the case may be, the related guarantee and the related indenture constitute legal, valid and binding obligations of the Issuer, enforceable against the Issuer in
accordance with their respective terms, subject to customary exceptions and qualifications. If the Exchange Offer or a Private Exchange is to be consummated, upon delivery of the Registrable Securities by Holders to the Issuer (or to such other
Person as directed by the Issuer), in exchange for the Exchange Securities or the Private Exchange Notes (and the related Guarantees), as the case may be, the Issuer shall mark, or cause to be marked, on such Registrable Securities that such
Registrable Securities are being cancelled in exchange for the Exchange Securities or the Private Exchange Notes (and the related Guarantees), as the case may be; in no event shall such Registrable Securities be marked as paid or otherwise
satisfied. 

  
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 (r) Use reasonable efforts to cooperate with each seller of Registrable Securities covered
by any Registration Statement and each underwriter, if any, participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory
Authority. ( “FINRA”). 
 (s) Use its reasonable best efforts to take all other steps reasonably necessary to
effect the registration of the Exchange Securities and/or Registrable Securities covered by a Registration Statement contemplated hereby. 
 The Issuer may require each seller of Registrable Securities as to which any registration is being effected to furnish to the Issuer such information regarding such seller and the distribution of such
Registrable Securities as the Issuer may, from time to time, reasonably request. The Issuer may exclude from such registration the Registrable Securities of any seller so long as such seller fails to furnish such information within a reasonable time
after receiving such request. Each seller as to which any Shelf Registration is being effected agrees to furnish promptly to the Issuer all information required to be disclosed in order to make the information previously furnished to the Issuer by
such seller not materially misleading. 
 If any such Registration Statement refers to any Holder by name or otherwise as the
holder of any securities of the Issuer, then such Holder shall have the right to require (i) the insertion therein of language, in form and substance reasonably satisfactory to such Holder, to the effect that the holding by such Holder of such
securities is not to be construed as a recommendation by such Holder of the investment quality of the securities covered thereby and that such holding does not imply that such Holder will assist in meeting any future financial requirements of the
Issuer, or (ii) in the event that such reference to such Holder by name or otherwise is not required by the Securities Act or any similar federal statute then in force, the deletion of the reference to such Holder in any amendment or supplement
to the Registration Statement filed or prepared subsequent to the time that such reference ceases to be required. 
 Each Holder
of Registrable Securities and each Participating Broker-Dealer agrees by its acquisition of such Registrable Securities or Exchange Securities to be sold by such Participating Broker-Dealer, as the case may be, that, upon actual receipt of any
notice from the Issuer of the happening of any event of the kind described in Section 6(c)(ii), 6(c)(iv), 6(c)(v), or 6(c)(vi) hereof, such Holder will forthwith discontinue disposition of such Registrable Securities covered by such
Registration Statement or Prospectus or Exchange Securities to be sold by such Holder or Participating Broker-Dealer, as the case may be, until such Holder’s or Participating Broker-Dealer’s receipt of the copies of the supplemented or
amended Prospectus contemplated by Section 6(k) hereof, or until it is advised in writing (the “Advice”) by the Issuer that the use of the applicable Prospectus may be resumed, and has received copies of any amendments or
supplements thereto. In the event that the Issuer shall give any such notice, each of the Applicable Period and the Effectiveness Period shall be extended by the number of days during such periods from and including the date of the giving of such
notice to and including the date when each seller of Registrable Securities covered by such Registration Statement or Exchange Securities to be sold by such Participating Broker-Dealer, as the case may be, shall have received (x) the copies of
the supplemented or amended Prospectus contemplated by Section 6(k) hereof or (y) the Advice. 

  
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	 	7.	Registration Expenses 

All fees and expenses incident to the performance of or compliance with this Agreement by the Issuer of its obligations under Sections 2,
3, 6 and 9 shall be borne by the Issuer, whether or not the Exchange Offer Registration Statement or any Shelf Registration Statement is filed or becomes effective or the Exchange Offer is consummated, including, without limitation, (i) all
registration and filing fees (including, without limitation, (A) fees with respect to filings required to be made with FINRA in connection with an underwritten offering and (B) fees and expenses of compliance with state securities or Blue
Sky laws (including, without limitation, reasonable fees and disbursements of counsel in connection with Blue Sky qualifications of the Registrable Securities or Exchange Securities and determination of the eligibility of the Registrable Securities
or Exchange Securities for investment under the laws of such jurisdictions in the United States (x) where the holders of Registrable Securities are located, in the case of the Exchange Securities, or (y) as provided in Section 6(h)
hereof, in the case of Registrable Securities or Exchange Securities to be sold by a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses, including, without limitation, printing prospectuses if the printing of
prospectuses is requested by the managing underwriter or underwriters, if any, by the Holders of a majority in aggregate principal amount of the Registrable Securities included in any Registration Statement or in respect of Registrable Securities or
Exchange Securities to be sold by any Participating Broker-Dealer during the Applicable Period, as the case may be, (iii) fees and expenses of the Trustee, any exchange agent and their counsel, (iv) fees and disbursements of counsel for
the Issuer and, in the case of a Shelf Registration, reasonable fees and disbursements of one special counsel for all of the sellers of Registrable Securities selected by the Holder of a majority in aggregate principal amount of Registrable
Securities covered by such Shelf Registration (which counsel shall be reasonably satisfactory to the Issuer) (exclusive of any counsel retained pursuant to Section 8 hereof), (v) fees and disbursements of all independent certified public
accountants referred to in Section 6(m) hereof (including, without limitation, the expenses of any “cold comfort” letters required by or incident to such performance), (vi) rating agency fees, if any, and any fees associated with
making the Registrable Securities or Exchange Securities eligible for trading through The Depository Trust Company, (vii) fees and expenses of all other Persons retained by the Issuer, (viii) internal expenses of the Issuer (including,
without limitation, all salaries and expenses of officers and employees of the Issuer performing legal or accounting duties), (ix) the expense of any annual audit, (x) any fees and expenses incurred in connection with the listing of the
securities to be registered on any securities exchange, and the obtaining of a rating of the securities, in each case, if applicable and (xi) the expenses relating to printing, word processing and distributing all Registration Statements,
underwriting agreements, indentures and any other documents necessary in order to comply with this Agreement. 
  

	 	8.	Indemnification and Contribution. 

 (a) The Issuer and the Guarantors jointly and severally agree, to indemnify and hold harmless each Holder of Registrable Securities and each Participating Broker-Dealer selling Exchange Securities during
the Applicable Period, and each Person, if any, who controls such Person or its affiliates within the meaning of Section 15 of the Act or Section 20 of the Exchange Act (each, a “Participant”) against any losses, claims,
damages or liabilities, joint or several, to which any Participant may become subject under the Securities Act, the Exchange Act or otherwise, insofar as any such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or
are based upon: 
 (i) any untrue statement or alleged untrue statement of any material fact contained in any
Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Issuer shall have furnished any amendments or supplements thereto) or any preliminary prospectus; or 

  
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 (ii) the omission or alleged omission to state, in any Registration
Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Issuer shall have furnished any amendments or supplements thereto) or any preliminary prospectus or any other document or any amendment or supplement thereto, a
material fact required to be stated therein or necessary to make the statements therein not misleading, 
 except, in each case,
insofar as such losses, claims, damages or liabilities are arising out of or based upon any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Initial
Purchaser or any Holder furnished to the Issuer in writing through the Initial Purchasers or any selling Holder expressly for use therein; 

and agree (subject to the limitations set forth in the proviso to this sentence) to reimburse, as incurred, the Participant for any reasonable legal or
other expenses incurred by the Participant in connection with investigating, defending against or appearing as a third-party witness in connection with any such loss, claim, damage, liability or action; provided, however, neither the
Issuer nor the Guarantors will 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 untrue statement or alleged untrue statement or omission or alleged omission made in any
Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Issuer shall have furnished any amendments or supplements thereto) or any preliminary prospectus or any amendment or supplement thereto in reliance
upon and in conformity with written information relating to any Participant furnished to the Issuer by such Participant specifically for use therein. The indemnity provided for in this Section 8 will be in addition to any liability that the
Issuer may otherwise have to the indemnified parties. The Issuer and the Guarantors shall not be liable under this Section 8 to any indemnified party regarding any settlement or compromise or consent to the entry of any judgment with respect to
any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such
settlement, compromise or consent is consented to by the Issuer and the Guarantors, which consent shall not be unreasonably withheld. 

  
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 (b) Each Participant, severally and not jointly, agrees to indemnify and hold harmless the
Issuer, the Guarantors, their respective directors (or equivalent), their respective officers who sign any Registration Statement and each person, if any, who controls the Issuer within the meaning of Section 15 of the Act or Section 20 of
the Exchange Act against any losses, claims, damages or liabilities to which the Issuer, the Guarantors or any such director, officer or controlling person may become subject under the Act, the Exchange Act or otherwise, insofar as such losses,
claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any Registration Statement or Prospectus, any amendment or
supplement thereto, or any preliminary prospectus, or (ii) the omission or the alleged omission to state therein a material fact necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that
such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information concerning such Participant, furnished to the Issuer by or on behalf of such Participant,
specifically for use therein; and subject to the limitation set forth immediately preceding this clause, will reimburse, as incurred, any reasonable legal or other expenses incurred by the Issuer, the Guarantors or any such director, officer or
controlling person in connection with investigating or defending against or appearing as a third party witness in connection with any such loss, claim, damage, liability or action in respect thereof. The indemnity provided for in this Section 8
will be in addition to any liability that the Participants may otherwise have to the indemnified parties. The Participants shall not be liable under this Section 8 to any indemnified party regarding any settlement or compromise or consent to
the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties
to such claim or action) unless such settlement, compromise or consent is consented to by the Participants, which consent shall not be unreasonably withheld. The Issuer and the Guarantors shall not, without the prior written consent of such
Participant, effect any settlement or compromise of any pending or threatened proceeding in respect of which such Participant is or could have been a party, or indemnity could have been sought hereunder by such Participant, unless such settlement
(A) includes an unconditional written release of such Participant, in form and substance reasonably satisfactory to such Participant, from all liability on claims that are the subject matter of such proceeding and (B) does not include any
statement as to an admission of fault, culpability or failure to act by or on behalf of such Participant. 
 (c) Promptly after
receipt by an indemnified party under this Section 8 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 8, notify the
indemnifying party of the commencement thereof in writing; but the omission to so notify the indemnifying party (i) will not relieve it from any 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 paragraphs (a) and (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 (based on the
advice of counsel to the indemnified person); (ii) such action includes both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded (based on the advice of counsel to the indemnified person)
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 and agreed that the indemnifying person shall not, in connection with any proceeding or separate but related or substantially similar 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 (in addition to any local counsel) representing the indemnified parties under paragraph (a) or paragraph (b) of this
Section 8, as the case may be, who are parties to such action or actions. Any such separate firm for any Participants shall be designated in writing by Participants who sold a majority in interest of the Registrable Securities and Exchange
Securities sold by all such Participants in the case of paragraph (a) of this Section 8 or the Issuer in the case of paragraph (b) of this Section 8. In the event that any Participants are indemnified persons collectively
entitled, in connection with a proceeding or separate but related or substantially similar proceedings in a single jurisdiction, to the payment of fees and expenses of a single separate firm under this Section 8(c), and any such Participants
cannot agree to a mutually acceptable separate firm to act as counsel thereto, then such separate firm for all such Indemnified Persons shall be designated in writing by Participants who sold a majority in interest of the Registrable Securities and
Exchange Securities sold by all such Participants. An indemnifying party will not, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened
claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or
consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding and does not include any statement as to, or any admission of, fault, culpability or failure to act by or on
behalf of any indemnified party. All fees and expenses reimbursed pursuant to this paragraph (c) shall be reimbursed as they are incurred. 

  
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 (d) After notice from the indemnifying party to such indemnified party of its election so to
assume the defense thereof and approval by such indemnified party of counsel appointed to defend such action, the indemnifying party will not be liable to such indemnified party under this Section 8 for any legal or other expenses, other than
reasonable costs of investigation, subsequently incurred by such indemnified party in connection with the defense thereof, unless (i) the indemnified party shall have employed separate counsel in accordance with the third sentence of paragraph
(c) of this Section 8 or (ii) the indemnifying party has authorized in writing the employment of counsel for the indemnified party at the expense of the indemnifying party. After such notice from the indemnifying party to such
indemnified party, the indemnifying party will not be liable for the costs and expenses of any settlement of such action effected by such indemnified party without the prior written consent of the indemnifying party (which consent shall not be
unreasonably withheld), unless such indemnified party waived in writing its rights under this Section 8, in which case the indemnified party may effect such a settlement without such consent. 

(e) In circumstances in which the indemnity agreement provided for in the preceding paragraphs of this Section 8 is unavailable to,
or insufficient to hold harmless, an indemnified party in respect of any losses, claims, damages or liabilities (or actions in respect thereof) (other than by virtue of the failure of an indemnified party to notify the indemnifying party of its
right to indemnification pursuant to paragraph (a) or (b) of this Section 8, where such failure materially prejudices the indemnifying party (through the forfeiture of substantial rights or defenses)), each indemnifying party, in
order to provide for just and equitable contribution, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is
appropriate to reflect (i) the relative benefits received by the indemnifying party or parties on the one hand and the indemnified party on the other from the offering of the Securities or (ii) if the allocation provided by the foregoing
clause (i) is not permitted by applicable law, not only such relative benefits but also the relative fault of the indemnifying party or parties on the one hand and the indemnified party on the other in connection with the statements or
omissions or alleged statements or omissions that resulted in such losses, claims, damages or liabilities (or actions in respect thereof). The relative benefits received by the Issuer and the Guarantors on the one hand and such Participant on the
other shall be deemed to be in the same proportion that the total net proceeds from the offering (before deducting expenses) of the Securities received by the Issuer bear to the total discounts and commissions received by such Participant in
connection with the sale of the Securities (or if such Participant did not receive discounts or commissions, the value or receiving the Securities). The relative fault of the parties shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Issuer on the one hand, or the Participants on the other, the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or omission or alleged statement or omission, and any other equitable considerations appropriate in the circumstances. The parties agree that it would not
be equitable if the amount of such contribution were determined by pro rata or per capita allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the first sentence of this
paragraph (e). Notwithstanding any other provision of this paragraph (e), no Participant shall be obligated to make contributions hereunder that in the aggregate exceed the total discounts, commissions and other compensation or net proceeds on the
sale of Securities received by such Participant in connection with the sale of the Securities, less the aggregate amount of any damages that such Participant has otherwise been required to pay by reason of the untrue or alleged untrue statements or
the omissions or alleged omissions to state a material fact, and no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. For purposes of this paragraph (d), each person, if any, who controls a Participant within the meaning of Section 15 of the Act or Section 20 of the Exchange Act shall have the same rights to contribution as
the Participants, and each director of the Issuer and the Guarantors, each officer of the Issuer and the Guarantors and each person, if any, who controls the Issuer and the Guarantors within the meaning of Section 15 of the Act or
Section 20 of the Exchange Act, shall have the same rights to contribution as the Issuer. 

  
 -20-

  

	 	9.	Rule 144A 

 The Issuer
covenants and agrees that it will use reasonable best efforts to file the reports required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder in a timely manner in accordance
with the requirements of the Securities Act and the Exchange Act and, if at any time the Issuer is not required to file such reports, the Issuer will, upon the request of any Holder or beneficial owner of Registrable Securities, make available such
information necessary to permit sales pursuant to Rule 144A. The Issuer further covenants and agrees, for so long as any Registrable Securities remain outstanding that it will take such further action as any Holder of Registrable Securities may
reasonably request, all to the extent required from time to time to enable such holder to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by Rule 144A unless the Issuer
is then subject to Section 13 or 15(d) of the Exchange Act and reports filed thereunder satisfy the information requirements of Rule 144A then in effect. 

  
 -21-

  

	 	10.	Underwritten Registrations 

The Issuer shall not be required to assist in an underwritten offering unless requested by the Holders of a majority in aggregate
principal amount of the Registrable Securities. If any of the Registrable Securities covered by any Shelf Registration are to be sold in an underwritten offering, the investment banker or investment bankers and manager or managers that will manage
the offering will be selected by the Holders of a majority in aggregate principal amount of such Registrable Securities included in such offering and shall be reasonably acceptable to the Issuer. 

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. 
  

	 	11.	Miscellaneous 

 (a) No
Inconsistent Agreements. The Issuer has not as of the date hereof, and the Issuer shall not, after the date of this Agreement, enter into any agreement with respect to any of its securities that 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 in any way conflict with and are not inconsistent with the rights granted to the holders of the
Issuer other issued and outstanding securities under any such agreements. The Issuer will not enter into any agreement (other than the Registration Rights Agreement dated as of the date hereof in respect of the Senior Subordinated Notes) with
respect to any of its securities which will grant to any Person piggy-back registration rights with respect to any Registration Statement. 
 (b) Adjustments Affecting Registrable Securities. The Issuer shall not, directly or indirectly, take any action with respect to the Registrable Securities as a class that would adversely affect the
ability of the Holders of Registrable Securities to include such Registrable Securities in a registration undertaken pursuant to this Agreement. 
 (c) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given,
otherwise than with the prior written consent of (I) the Issuer, and (II) (A) the Holders of not less than a majority in aggregate principal amount of the then outstanding Registrable Securities and (B) in circumstances that
would adversely affect the Participating Broker-Dealers, the Participating Broker-Dealers holding not less than a majority in aggregate principal amount of the Exchange Notes held by all Participating Broker-Dealers; provided, however,
that Section 8 and this Section 11(c) may not be amended, modified or supplemented without the prior written consent of each Holder and each Participating Broker-Dealer (including any person who was a Holder or Participating Broker-Dealer
of Registrable Securities or Exchange Securities, as the case may be, disposed of pursuant to any Registration Statement) affected by any such amendment, modification or supplement. Notwithstanding the foregoing, a waiver or consent to depart from
the provisions hereof with respect to a matter that relates exclusively to the rights of Holders of Registrable Securities whose securities are being sold pursuant to a Registration Statement and that does not directly or indirectly affect, impair,
limit or compromise the rights of other Holders of Registrable Securities may be given by Holders of at least a majority in aggregate principal amount of the Registrable Securities being sold pursuant to such Registration Statement. 

  
 -22-

 (d) Notices. All notices and other communications (including, without limitation, any
notices or other communications to the Trustee) provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, next-day air courier or facsimile: 

(i) if to a Holder of the Registrable Securities or any Participating Broker-Dealer, at the most current address of such
Holder or Participating Broker-Dealer, as the case may be, set forth on the records of the registrar under the Indenture, with a copy in like manner to the Initial Purchasers as follows: 

Deutsche Bank Securities Inc. 
 60 Wall Street 
 New York, New York 10005 

with a copy to: 

Cahill Gordon & Reindel LLP 
 80 Pine Street 
 New York, New York 10005 

Facsimile No.: (212) 269-5420 
 Attention: John A. Tripodoro, Esq. 
 (ii) if to the Initial
Purchasers, at the address specified in Section 11(d)(i); 
 (iii) if to the Issuer, at the address as
follows: 
 West Corporation 
 11808 Miracle Hills Drive 
 Omaha, Nebraska 68154 

Facsimile No.: (412) 963-1211 
 Attention: General Counsel 
 with a copy to: 

Ropes & Gray LLP 
 Three Embarcadero Center 
 San Francisco, CA 94111 

Facsimile No.: (415) 315-6350 
 Attention: Brian C. Erb, Esq. 

  
 -23-

 All such notices and communications shall be deemed to have been duly given: when delivered
by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; one Business Day after being timely delivered to a next-day air courier; and upon written confirmation, if sent by facsimile.

 Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to
the Trustee at the address and in the manner specified in such Indenture. 
 (e) Successors and Assigns. This Agreement
shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto, the Holders and the Participating Broker-Dealers; provided, however, 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. 
 (f) 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. 
 (g) Headings. The headings in this
Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 
 (h)
Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED ENTIRELY WITHIN THE STATE OF NEW YORK. EACH OF THE PARTIES HEREBY WAIVE ANY
RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT. 
 (i)
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set
forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their best efforts to find and employ an alternative means to achieve the same or substantially the same
result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without
including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 
 (j) Notes Held by the Issuer
or Its Affiliates. Whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder, Registrable Securities held by the Issuer or its affiliates (as such term is defined in Rule 405 under
the Securities Act) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 

  
 -24-

 (k) Third-Party Beneficiaries. Holders of Registrable Securities and Participating
Broker-Dealers are intended third-party beneficiaries of this Agreement, and this Agreement may be enforced by such Persons. 

(l) Entire Agreement. This Agreement, together with the Purchase Agreement and the Indenture, is intended by the parties as a
final and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein and any and all prior oral or written agreements, representations, or warranties, contracts,
understandings, correspondence, conversations and memoranda between the Holders on the one hand and the Issuer on the other, or between or among any agents, representatives, parents, subsidiaries, affiliates, predecessors in interest or successors
in interest with respect to the subject matter hereof and thereof are merged herein and replaced hereby. 

  
 -25-

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

					
	Very truly yours,
	
	WEST CORPORATION
		
	By:	 	 /s/ Paul M. Mendlik

		 	Name:	 	Paul M. Mendlik
		 	Title:	 	Chief Financial Officer and Treasurer
	
	COSMOSIS CORPORATION
	INTERCALL, INC.
	INTRADO COMMAND SYSTEMS, INC.
	INTRADO COMMUNICATIONS INC.
	INTRADO COMMUNICATIONS OF VIRGINIA INC.
	INTRADO INC.
	INTRADO INFORMATION SYSTEMS HOLDINGS, INC.
	NORTHERN CONTACT, INC.
	INTRADO SYSTEMS CORP.
	STREAM57 CORPORATION
	TELEVOX SOFTWARE, INCORPORATED
	TUVOX INCORPORATED
	WEST ASSET MANAGEMENT, INC.
	WEST DIRECT II, INC.
	WEST INTERACTIVE CORPORATION
	WEST INTERNATIONAL CORPORATION
	WEST NOTIFICATIONS GROUP, INC.
	WEST RECEIVABLE SERVICES, INC.
		
	By:	 	 /s/ Paul M. Mendlik

		 	Name:	 	Paul M. Mendlik
		 	Title:	 	Chief Financial Officer and Treasurer
	
	ASSET DIRECT MORTGAGE, LLC
		
	By:	 	 /s/ Paul M. Mendlik

		 	Name:	 	Paul M. Mendlik
		 	Title:	 	Manager

  
 Signature Page
to Registration Rights Agreement 

  

					
	BUYDEBTCO, LLC
	THE DEBT DEPOT, LLC
	WEST ASSET PURCHASING, LLC
	WORLDWIDE ASSET PURCHASING, LLC
	By: West Receivable Services, Inc., its Sole Member
		
	By:	 	 /s/ Paul M. Mendlik

		 	Name:	 	Paul M. Mendlik
		 	Title:	 	Chief Financial Officer and Treasurer
	
	INTERCALL TELECOM VENTURES, LLC
	By: InterCall, Inc., its Sole Member
		
	By:	 	 /s/ Paul M. Mendlik

		 	Name:	 	Paul M. Mendlik
		 	Title:	 	Chief Financial Officer and Treasurer
	
	INTRADO INTERNATIONAL, LLC
	By: Intrado Inc., its Sole Member
		
	By:	 	 /s/ Paul M. Mendlik

		 	Name:	 	Paul M. Mendlik
		 	Title:	 	Chief Financial Officer and Treasurer
	
	STARGATE MANAGEMENT, LLC
	By: Cosmosis Corporation, its Sole Member
		
	By:	 	 /s/ Paul M. Mendlik

		 	Name:	 	Paul M. Mendlik
		 	Title:	 	Chief Financial Officer and Treasurer
	
	WEST DIRECT, LLC
	By: West Direct II, Inc., its Sole Member
		
	By:	 	 /s/ Paul M. Mendlik

		 	Name:	 	Paul M. Mendlik
		 	Title:	 	Chief Financial Officer and Treasurer

  
 Signature Page
to Registration Rights Agreement 

  

			
	WEST AT HOME, LLC
	WEST BUSINESS SERVICES, LLC
	WEST CUSTOMER MANAGEMENT GROUP, LLC
	WEST FACILITIES, LLC
	WEST UC SOLUTIONS, LLC
	By: West Corporation, its Sole Member
		
	By:	 	 /s/ Paul M. Mendlik

	Name:	 	Paul M. Mendlik
	Title:	 	Chief Financial Officer and Treasurer

  
 Signature Page
to Registration Rights Agreement 

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

 DEUTSCHE BANK SECURITIES INC. 
 GOLDMAN, SACHS & CO. 

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 
 MORGAN STANLEY & CO. INCORPORATED 
 WELLS FARGO SECURITIES, LLC 

By: Deutsche Bank Securities Inc. 
  

			
	By:	 	 /s/ William Prauen

		 	Name:  William Prauen
		 	Title:  Managing Director
		
	By:	 	 /s/ Nicolas Hayes

		 	Name:  Nicolas Hayes
		 	Title:  Managing Director

 For itself, the other
Representatives and the other several Initial Purchasers.Note Purchase Agreement

 Exhibit 4.1 

 
  

 
 SOUTHWEST GAS CORPORATION

 $125,000,000 
 6.10% Senior Notes due 2041 
  

 
 NOTE PURCHASE
AGREEMENT 
  
  

Dated November 18, 2010 
  

 
  

 TABLE OF CONTENTS 

 

									
	 	 	 	 	 	  	Page	 
			
	SECTION 1.	 	AUTHORIZATION OF NOTES	  	 	1	  
			
	SECTION 2.	 	SALE AND PURCHASE OF NOTES	  	 	1	  
			
	SECTION 3.	 	CLOSING	  	 	1	  
			
	SECTION 4.	 	CONDITIONS TO CLOSING	  	 	2	  
			
	 Section 4.1.
	 	Representations and Warranties	  	 	2	  
			
	 Section 4.2.
	 	Performance; No Default	  	 	2	  
			
	 Section 4.3.
	 	Compliance Certificates	  	 	2	  
			
	 Section 4.4.
	 	Opinions of Counsel	  	 	3	  
			
	 Section 4.5.
	 	Purchase Permitted By Applicable Law, Etc	  	 	3	  
			
	 Section 4.6.
	 	Sale of Other Notes	  	 	3	  
			
	 Section 4.7.
	 	Payment of Special Counsel Fees	  	 	3	  
			
	 Section 4.8.
	 	Private Placement Number	  	 	3	  
			
	 Section 4.9.
	 	Changes in Corporate Structure	  	 	3	  
			
	 Section 4.10.
	 	Funding Instructions	  	 	3	  
			
	 Section 4.11.
	 	Proceedings and Documents	  	 	4	  
			
	SECTION 5.	 	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  	 	4	  
				
	 Section 5.1.
	 		 	Organization; Power and Authority	  	 	4	  
				
	 Section 5.2.
	 		 	Authorization, Etc	  	 	4	  
				
	 Section 5.3.
	 		 	Disclosure	  	 	4	  
				
	 Section 5.4.
	 		 	Organization and Ownership of Shares of Subsidiaries; Affiliates	  	 	5	  
				
	 Section 5.5.
	 		 	Financial Statements; Material Liabilities	  	 	5	  
				
	 Section 5.6.
	 		 	Compliance with Laws, Other Instruments, Etc	  	 	6	  
				
	 Section 5.7.
	 		 	Governmental Authorizations, Etc	  	 	6	  
				
	 Section 5.8.
	 		 	Litigation; Observance of Agreements, Statutes and Orders	  	 	6	  
				
	 Section 5.9.
	 		 	Taxes	  	 	6	  
				
	 Section 5.10.
	 		 	Title to Property; Leases	  	 	7	  
				
	 Section 5.11.
	 		 	Licenses, Permits, Etc	  	 	7	  

 TABLE OF CONTENTS 

(cont.) 
  

  

									
	 	 	 	 	 	  	Page	 
				
	 Section 5.12.
	 		 	Compliance with ERISA	  	 	7	  
				
	 Section 5.13.
	 		 	Private Offering by the Company	  	 	8	  
				
	 Section 5.14.
	 		 	Use of Proceeds; Margin Regulations	  	 	8	  
				
	 Section 5.15.
	 		 	Existing Indebtedness; Future Liens	  	 	9	  
				
	 Section 5.16.
	 		 	Foreign Assets Control Regulations, Etc	  	 	10	  
				
	 Section 5.17.
	 		 	Status under Certain Statutes	  	 	10	  
				
	 Section 5.18.
	 		 	Environmental Matters	  	 	10	  
			
	SECTION 6.	 	REPRESENTATIONS OF THE PURCHASERS	  	 	11	  
				
	 Section 6.1.
	 		 	Purchase for Investment	  	 	11	  
				
	 Section 6.2.
	 		 	Source of Funds	  	 	11	  
				
	SECTION 7.	 		 	INFORMATION AS TO COMPANY	  	 	13	  
				
	 Section 7.1.
	 		 	Financial and Business Information	  	 	13	  
				
	 Section 7.2.
	 		 	Officer’s Certificate	  	 	16	  
				
	 Section 7.3.
	 		 	Visitation	  	 	16	  
			
	SECTION 8.	 	PAYMENT AND PREPAYMENT OF THE NOTES	  	 	17	  
				
	 Section 8.1.
	 		 	Maturity	  	 	17	  
				
	 Section 8.2.
	 		 	Optional Prepayments with Make-Whole Amount	  	 	17	  
				
	 Section 8.3.
	 		 	Allocation of Partial Prepayments	  	 	17	  
				
	 Section 8.4.
	 		 	Maturity; Surrender, Etc.	  	 	17	  
				
	 Section 8.5.
	 		 	Purchase of Notes	  	 	17	  
				
	 Section 8.6.
	 		 	Make-Whole Amount	  	 	18	  
				
	 Section 8.7.
	 		 	Mandatory Offer to Prepay in Event of Change in Control	  	 	19	  
			
	SECTION 9.	 	AFFIRMATIVE COVENANTS	  	 	21	  
				
	 Section 9.1.
	 		 	Compliance with Law	  	 	21	  
				
	 Section 9.2.
	 		 	Insurance	  	 	21	  
				
	 Section 9.3.
	 		 	Maintenance of Properties	  	 	21	  
				
	 Section 9.4.
	 		 	Payment of Taxes and Claims	  	 	21	  
				
	 Section 9.5.
	 		 	Corporate Existence, Etc	  	 	22	  
				
	 Section 9.6.
	 		 	Books and Records	  	 	22	  
			
	SECTION 10.	 	NEGATIVE COVENANTS	  	 	22	  
				
	 Section 10.1.
	 		 	Liens	  	 	22	  
				
	 Section 10.2.
	 		 	Merger, Consolidation, Etc	  	 	22	  

  
 -ii-

 TABLE OF CONTENTS 

(cont.) 
  

  

									
	 	 	 	 	 	  	Page	 
				
	 Section 10.3.
	 		 	Investments and Acquisitions	  	 	23	  
				
	 Section 10.4.
	 		 	Transactions with Affiliates	  	 	24	  
				
	 Section 10.5.
	 		 	Restricted Payments	  	 	24	  
				
	 Section 10.6.
	 		 	Line of Business, Etc.	  	 	24	  
				
	 Section 10.7.
	 		 	Terrorism Sanctions Regulations	  	 	24	  
				
	 Section 10.8.
	 		 	Guaranties	  	 	24	  
				
	 Section 10.9.
	 		 	Leverage Ratio	  	 	24	  
				
	 Section 10.10.
	 		 	Net Worth	  	 	25	  
				
	 Section 10.11.
	 		 	Priority Debt	  	 	25	  
			
	SECTION 11.	 	EVENTS OF DEFAULT	  	 	25	  
			
	SECTION 12.	 	REMEDIES ON DEFAULT, ETC	  	 	27	  
				
	 Section 12.1.
	 		 	Acceleration	  	 	27	  
				
	 Section 12.2.
	 		 	Other Remedies	  	 	28	  
				
	 Section 12.3.
	 		 	Rescission	  	 	28	  
				
	 Section 12.4.
	 		 	No Waivers or Election of Remedies, Expenses, Etc	  	 	28	  
			
	SECTION 13.	 	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES	  	 	28	  
				
	 Section 13.1.
	 		 	Registration of Notes	  	 	28	  
				
	 Section 13.2.
	 		 	Transfer and Exchange of Notes	  	 	29	  
				
	 Section 13.3.
	 		 	Replacement of Notes	  	 	29	  
			
	SECTION 14.	 	PAYMENTS ON NOTES	  	 	30	  
				
	 Section 14.1.
	 		 	Place of Payment	  	 	30	  
				
	 Section 14.2.
	 		 	Home Office Payment	  	 	30	  
			
	SECTION 15.	 	EXPENSES, ETC	  	 	30	  
				
	 Section 15.1.
	 		 	Transaction Expenses	  	 	30	  
				
	 Section 15.2.
	 		 	Survival	  	 	31	  
			
	SECTION 16.	 	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT	  	 	31	  
			
	SECTION 17.	 	AMENDMENT AND WAIVER	  	 	31	  
				
	 Section 17.1.
	 		 	Requirements	  	 	31	  
				
	 Section 17.2.
	 		 	Solicitation of Holders of Notes	  	 	32	  
				
	 Section 17.3.
	 		 	Binding Effect, etc	  	 	32	  
				
	 Section 17.4.
	 		 	Certain Notes Deemed Not to be Outstanding	  	 	32	  

  
 -iii-

 TABLE OF CONTENTS 

(cont.) 
  

  

									
	 	 	 	 	 	  	Page	 
			
	SECTION 18.	 	NOTICES	  	 	33	  
			
	SECTION 19.	 	REPRODUCTION OF DOCUMENTS	  	 	33	  
			
	SECTION 20.	 	CONFIDENTIAL INFORMATION	  	 	33	  
			
	SECTION 21.	 	SUBSTITUTION OF PURCHASER	  	 	34	  
			
	SECTION 22.	 	MISCELLANEOUS	  	 	35	  
				
	 Section 22.1.
	 		 	Successors and Assigns	  	 	35	  
				
	 Section 22.2.
	 		 	Payments Due on Non-Business Days	  	 	35	  
				
	 Section 22.3.
	 		 	Accounting Terms	  	 	35	  
				
	 Section 22.4.
	 		 	Severability	  	 	35	  
				
	 Section 22.5.
	 		 	Construction, etc	  	 	35	  
				
	 Section 22.6.
	 		 	Counterparts	  	 	36	  
				
	 Section 22.7.
	 		 	Governing Law	  	 	36	  
				
	 Section 22.8.
	 		 	Jurisdiction and Process; Waiver of Jury Trial	  	 	36	  
		
	SIGNATURES	  	 	S-1	  

  
 -iv-

 TABLE OF CONTENTS 

(cont.) 
  

  

					
	SCHEDULES	  		    	
			
	Schedule A	  	—	    	Information Relating to Purchasers
			
	Schedule B	  	—	    	Defined Terms
			
	Schedule 5.3	  	—	    	Disclosure Materials
			
	Schedule 5.4	  	—	    	Subsidiaries of the Company and Ownership of Subsidiary Stock
			
	Schedule 5.5	  	—	    	Financial Statements
			
	Schedule 5.15	  	—	    	Existing Indebtedness
			
	EXHIBITS	  		    	
			
	Exhibit 1	  	—	    	Form of 6.10% Senior Note due 2041
			
	Exhibit 4.4(a)	  	—	    	Matters to be Covered in Opinion of Counsel to the Company
			
	Exhibit 4.4(b)	  	—	    	Matters to be Covered in Opinion of Associate General Counsel of the Company

  
 -v-

 SOUTHWEST GAS CORPORATION 

5241 Spring Mountain Road 
 Las Vegas, NV 89150-0002 
 NOTE PURCHASE AGREEMENT 

$125,000,000 
 6.10% Senior Notes due 2041 
 November 18, 2010 

TO EACH OF THE PURCHASERS LISTED IN 
 SCHEDULE A HERETO: 
 Ladies and Gentlemen: 

Southwest Gas Corporation, a California corporation (the “Company”), agrees with each of the purchasers whose names
appear at the end hereof (each, a “Purchaser” and, collectively, the “Purchasers”) as follows: 

SECTION 1. AUTHORIZATION OF NOTES. 
 The Company will authorize the issue and sale of $125,000,000 aggregate principal amount of its 6.10% Senior Notes due 2041 (the “Notes”, such term to include any such notes issued in
substitution therefor pursuant to Section 13). The Notes shall be substantially in the form set out in Exhibit 1. Certain capitalized and other terms used in this Agreement are defined in Schedule B; and references to a
“Schedule” or an “Exhibit” are, unless otherwise specified, to a Schedule or an Exhibit attached to this Agreement. 

SECTION 2. SALE AND PURCHASE OF NOTES. 
 Subject to the terms and conditions of this Agreement, the Company will issue and sell to each Purchaser and each Purchaser will purchase from the Company, at the Closing provided for in Section 3,
Notes in the principal amount specified opposite such Purchaser’s name in Schedule A at the purchase price of 100% of the principal amount thereof. The Purchasers’ obligations hereunder are several and not joint obligations and no
Purchaser shall have any liability to any Person for the performance or non-performance of any obligation by any other Purchaser hereunder. 

SECTION 3. CLOSING. 

The sale and purchase of the Notes to be purchased by each Purchaser shall occur at the offices of Day Pitney LLP, 242 Trumbull Street,
Hartford, Connecticut 06103, at 10:00 a.m., 

 
Eastern time, at a closing (the “Closing”) on February 15, 2011 or on such other Business Day on or prior to February 15, 2011 as may be agreed upon by the Company and
the Purchasers. At the Closing the Company will deliver to each Purchaser the Notes to be purchased by such Purchaser in the form of a single Note (or such greater number of Notes in denominations of at least $100,000 as such Purchaser may request)
dated the date of the Closing and registered in such Purchaser’s name (or in the name of its nominee), against delivery by such Purchaser to the Company or its order of immediately available funds in the amount of the purchase price therefor by
wire transfer of immediately available funds for the account of the Company to the account at the bank specified in writing by the Company to the Purchasers in accordance with Section 4.10. If at the Closing the Company shall fail to tender
such Notes to any Purchaser as provided above in this Section 3, or any of the conditions specified in Section 4 shall not have been fulfilled to such Purchaser’s satisfaction, such Purchaser shall, at its election, be relieved of all
further obligations under this Agreement, without thereby waiving any rights such Purchaser may have by reason of such failure or such nonfulfillment. 
 SECTION 4. CONDITIONS TO CLOSING. 
 Each Purchaser’s obligation
to purchase and pay for the Notes to be sold to such Purchaser at the Closing is subject to the fulfillment to such Purchaser’s satisfaction, prior to or at the Closing, of the following conditions: 

Section 4.1. Representations and Warranties. The representations and warranties of the Company in this Agreement shall be
correct when made and at the time of the Closing. 
 Section 4.2. Performance; No Default. The Company shall have
performed and complied with all agreements and conditions contained in this Agreement required to be performed or complied with by it prior to or at the Closing and after giving effect to the issue and sale of the Notes (and the application of the
proceeds thereof as contemplated by Section 5.14) no Default or Event of Default shall have occurred and be continuing. Neither the Company nor any Subsidiary shall have entered into any transaction since June 30, 2010 that would have been
prohibited by Section 10.1 or Section 10.4 had such Sections applied since such date. 
 Section 4.3.
Compliance Certificates. 
 (a) Officer’s Certificate. The Company shall have delivered to such
Purchaser an Officer’s Certificate, dated the date of the Closing, certifying that the conditions specified in Sections 4.1, 4.2 and 4.9 have been fulfilled. 

(b) Secretary’s Certificate. The Company shall have delivered to such Purchaser a certificate of its Secretary
or Assistant Secretary, dated the date of Closing, certifying as to the resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of the Notes and this Agreement. 

  
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 Section 4.4. Opinions of Counsel. Each Purchaser shall have received opinions in
form and substance satisfactory to such Purchaser, dated the date of the Closing (a) from Morrison & Foerster LLP, counsel to the Company, covering the matters set forth in Exhibit 4.4(a) and covering such other matters incident
to the transactions contemplated hereby as such Purchaser or its counsel may reasonably request (and the Company hereby instructs its counsel to deliver such opinion to the Purchasers), (b) from Sandra Carolina, Associate General Counsel of the
Company, covering the matters set forth in Exhibit 4.4(b) and covering such other matters incident to the transactions contemplated hereby as such Purchaser or its counsel may reasonably request, and (c) from Day Pitney LLP, the
Purchasers’ special counsel in connection with such transactions and covering such matters incident to such transactions as such Purchaser may reasonably request. 
 Section 4.5. Purchase Permitted By Applicable Law, Etc. On the date of the Closing such Purchaser’s purchase of Notes shall (a) be permitted by the laws and regulations of each
jurisdiction to which such Purchaser is subject, without recourse to provisions (such as section 1405(a)(8) of the New York Insurance Law) permitting limited investments by insurance companies without restriction as to the character of the
particular investment, (b) not violate any applicable law or regulation (including, without limitation, Regulation T, U or X of the Board of Governors of the Federal Reserve System) and (c) not subject such Purchaser to any tax, penalty or
liability under or pursuant to any applicable law or regulation, which law or regulation was not in effect on the date hereof. If requested by such Purchaser, such Purchaser shall have received an Officer’s Certificate certifying as to such
matters of fact as such Purchaser may reasonably specify to enable such Purchaser to determine whether such purchase is so permitted. 
 Section 4.6. Sale of Other Notes. Contemporaneously with the Closing the Company shall sell to each other Purchaser and each other Purchaser shall purchase the Notes to be purchased by it at
the Closing as specified in Schedule A. 
 Section 4.7. Payment of Special Counsel Fees. Without limiting the
provisions of Section 15.1, the Company shall have paid on or before the Closing the fees, charges and disbursements of the Purchasers’ special counsel referred to in Section 4.4 to the extent reflected in a statement of such counsel
rendered to the Company at least one Business Day prior to the Closing. 
 Section 4.8. Private Placement Number. A
Private Placement Number issued by Standard & Poor’s CUSIP Service Bureau (in cooperation with the SVO) shall have been obtained for the Notes. 
 Section 4.9. Changes in Corporate Structure. The Company shall not have changed its jurisdiction of incorporation or organization, as applicable, or been a party to any merger or consolidation
or succeeded to all or any substantial part of the liabilities of any other entity, at any time following June 30, 2010. 

Section 4.10. Funding Instructions. At least three Business Days prior to the date of the Closing, each Purchaser shall have
received 

  
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written funding instructions signed by a Responsible Officer on letterhead of the Company including (i) the name and address of the bank to which the purchase price for the Notes is to be
wire transferred, (ii) such transferee bank’s ABA number, and (iii) the account name and number into which the purchase price for the Notes is to be deposited. 
 Section 4.11. Proceedings and Documents. All corporate and other proceedings in connection with the transactions contemplated by this Agreement and all documents and instruments incident to
such transactions shall be satisfactory to such Purchaser and its special counsel, and such Purchaser and its special counsel shall have received all such counterpart originals or certified or other copies of such documents as such Purchaser or such
special counsel may reasonably request. 
 SECTION 5. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. 

The Company represents and warrants to each Purchaser that: 
 Section 5.1. Organization; Power and Authority. The Company is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation, and is
duly qualified as a foreign corporation and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing could not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company has the corporate power and authority to own or hold under lease the properties it purports to own or hold under lease, to transact the business
it transacts and proposes to transact, to execute and deliver this Agreement and the Notes and to perform the provisions hereof and thereof. 
 Section 5.2. Authorization, Etc. This Agreement and the Notes have been duly authorized by all necessary corporate action on the part of the Company, and this Agreement constitutes, and upon
execution and delivery thereof each Note will constitute, a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by (i) applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a
proceeding in equity or at law). 
 Section 5.3. Disclosure. This Agreement and the documents, certificates or other
writings delivered to the Purchasers by or on behalf of the Company in connection with the transactions contemplated by this Agreement and the Notes and identified in Schedule 5.3 and the financial statements listed in Schedule 5.5
(this Agreement and such documents, certificates or other writings and such financial statements being referred to, collectively, as the “Disclosure Documents”), taken as a whole, do not contain any untrue statement of a material
fact or omit to state any material fact necessary to make the statements therein not misleading in light of the circumstances under which they were made. Except as disclosed in the Disclosure Documents, since June 30, 2010, there has been no
change in the financial condition, operations, business, properties or prospects of the Company or any 

  
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Subsidiary except changes that individually or in the aggregate could not reasonably be expected to have a Material Adverse Effect. There is no fact known to the Company that could reasonably be
expected to have a Material Adverse Effect that has not been set forth herein or in the Disclosure Documents. 

Section 5.4. Organization and Ownership of Shares of Subsidiaries; Affiliates. 

(a) Schedule 5.4 contains (except as noted therein) complete and correct lists (i) of the Company’s
Subsidiaries, showing, as to each Subsidiary, the correct name thereof, the jurisdiction of its organization, and the percentage of shares of each class of its capital stock or similar equity interests outstanding owned by the Company and each other
Subsidiary, (ii) of the Company’s Affiliates, other than Subsidiaries, and (iii) of the Company’s directors and senior officers. 
 (b) All of the outstanding shares of capital stock or similar equity interests of each Subsidiary shown in Schedule 5.4 as being owned by the Company and its Subsidiaries have been validly issued,
are fully paid and nonassessable and are owned by the Company or another Subsidiary free and clear of any Lien (except as otherwise disclosed in Schedule 5.4). 

(c) Each Subsidiary identified in Schedule 5.4 is a corporation or other legal entity duly organized, validly
existing and in good standing under the laws of its jurisdiction of organization, and is duly qualified as a foreign corporation or other legal entity and is in good standing in each jurisdiction in which such qualification is required by law, other
than those jurisdictions as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each such Subsidiary has the corporate or other power and
authority to own or hold under lease the properties it purports to own or hold under lease and to transact the business it transacts and proposes to transact. 
 (d) No Subsidiary is a party to, or otherwise subject to any legal, regulatory, contractual or other restriction (other than this Agreement, the agreements listed on Schedule 5.4, and customary
limitations imposed by corporate law or similar statutes) restricting the ability of such Subsidiary to pay dividends out of profits or make any other similar distributions of profits to the Company or any of its Subsidiaries that owns outstanding
shares of capital stock or similar equity interests of such Subsidiary. 
 Section 5.5. Financial Statements; Material
Liabilities. The Company has delivered or made available to each Purchaser copies of the financial statements of the Company and its Subsidiaries listed on Schedule 5.5. All of said financial statements (including in each case the related
schedules and notes) fairly present in all material respects the consolidated financial position of the Company and its Subsidiaries as of the respective dates specified in such Schedule and the consolidated results of their operations and cash
flows for the respective periods so specified and have been prepared in accordance with GAAP consistently applied throughout the periods involved except as set forth in the notes thereto (subject, in the case of any interim

  
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financial statements, to normal year-end adjustments). The Company and its Subsidiaries do not have any Material liabilities that are not disclosed on such financial statements or otherwise
disclosed in the Disclosure Documents. 
 Section 5.6. Compliance with Laws, Other Instruments, Etc. The execution,
delivery and performance by the Company of this Agreement and the Notes will not (i) contravene, result in any breach of, or constitute a default under, or result in the creation of any Lien in respect of any property of the Company or any
Subsidiary under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter or by-laws, or any other agreement or instrument to which the Company or any Subsidiary is bound or by which the Company or any
Subsidiary or any of their respective properties may be bound or affected, (ii) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental
Authority applicable to the Company or any Subsidiary or (iii) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to the Company or any Subsidiary. 

Section 5.7. Governmental Authorizations, Etc. No consent, approval or authorization of, or registration, filing or
declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by the Company of this Agreement or the Notes other than the authorization by the California Public Utilities Commission, which has
been obtained and is in full force and effect. 
 Section 5.8. Litigation; Observance of Agreements, Statutes and
Orders.  
 (a) There are no actions, suits, investigations or proceedings pending or, to the
knowledge of the Company, threatened against or affecting the Company or any Subsidiary or any property of the Company or any Subsidiary in any court or before any arbitrator of any kind or before or by any Governmental Authority that, individually
or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
 (b) Neither the Company
nor any Subsidiary is in default under any term of any agreement or instrument to which it is a party or by which it is bound, or any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority or is in violation of any
applicable law, ordinance, rule or regulation (including without limitation Environmental Laws or the USA Patriot Act) of any Governmental Authority, which default or violation, individually or in the aggregate, could reasonably be expected to have
a Material Adverse Effect. 
 Section 5.9. Taxes. The Company and its Subsidiaries have filed all tax returns that
are required to have been filed in any jurisdiction, and have paid all taxes shown to be due and payable on such returns and all other taxes and assessments levied upon them or their properties, assets, income or franchises, to the extent such taxes
and assessments have become due and payable and before they have become delinquent, except for any taxes and assessments (i) the amount of which is not individually or in the 

  
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aggregate Material or (ii) the amount, applicability or validity of which is currently being contested in good faith by appropriate proceedings and with respect to which the Company or a
Subsidiary, as the case may be, has established adequate reserves in accordance with GAAP. The Company knows of no basis for any other tax or assessment that could reasonably be expected to have a Material Adverse Effect. The charges, accruals and
reserves on the books of the Company and its Subsidiaries in respect of U.S. federal, state or other taxes for all fiscal periods are adequate. The U.S. federal income tax liabilities of the Company and its Subsidiaries have been finally determined
(whether by reason of completed audits or the statute of limitations having run) for all fiscal years up to and including the fiscal year ended 2006. 
 Section 5.10. Title to Property; Leases. The Company and its Subsidiaries have good and sufficient title to their respective properties that individually or in the aggregate are Material,
including all such properties reflected in the most recent audited balance sheet referred to in Section 5.5 or purported to have been acquired by the Company or any Subsidiary after said date (except as sold or otherwise disposed of in the
ordinary course of business), in each case free and clear of Liens prohibited by this Agreement. All leases that individually or in the aggregate are Material are valid and subsisting and are in full force and effect in all material respects.

 Section 5.11. Licenses, Permits, Etc.  

(a) The Company and its Subsidiaries own or possess all licenses, permits, franchises, authorizations, patents,
copyrights, proprietary software, service marks, trademarks and trade names, or rights thereto, that individually or in the aggregate are Material, without known conflict with the rights of others. 

(b) To the best knowledge of the Company, no product of the Company or any of its Subsidiaries infringes in any material
respect any license, permit, franchise, authorization, patent, copyright, proprietary software, service mark, trademark, trade name or other right owned by any other Person. 

(c) To the best knowledge of the Company, there is no Material violation by any Person of any right of the Company or any
of its Subsidiaries with respect to any patent, copyright, proprietary software, service mark, trademark, trade name or other right owned or used by the Company or any of its Subsidiaries. 

Section 5.12. Compliance with ERISA. 
 (a) The Company and each ERISA Affiliate have operated and administered each Plan in compliance with all applicable laws except for such instances of noncompliance as have not resulted in and could not
reasonably be expected to result in a Material Adverse Effect. Neither the Company nor any ERISA Affiliate has incurred any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit
plans (as defined in section 3 of ERISA), and no event, transaction or condition has occurred or exists that could reasonably be expected to result in the incurrence of any such liability by the Company or any ERISA Affiliate, or in the

  
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imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate, in either case pursuant to Title I or IV of ERISA or to such penalty or excise tax
provisions or to section 401(a)(29) or 412 of the Code or section 4068 of ERISA, other than such liabilities or Liens as would not be individually or in the aggregate Material. 

(b) The present value of the aggregate benefit liabilities under each of the Plans (other than Multiemployer Plans),
determined as of the end of such Plan’s most recently ended plan year on the basis of the actuarial assumptions specified for funding purposes in such Plan’s most recent actuarial valuation report, did not exceed the aggregate current
value of the assets of such Plan allocable to such benefit liabilities by more than 10% of the Company’s Net Worth. The term “benefit liabilities” has the meaning specified in section 4001 of ERISA and the terms
“current value” and “present value” have the meaning specified in section 3 of ERISA. 
 (c) The Company and its ERISA Affiliates have not incurred withdrawal liabilities (and are not subject to contingent withdrawal liabilities) under section 4201 or 4204 of ERISA in respect of Multiemployer
Plans that individually or in the aggregate are Material. 
 (d) The expected postretirement benefit obligation
(determined as of the last day of the Company’s most recently ended fiscal year in accordance with Financial Accounting Standards Board Statement No. 106, without regard to liabilities attributable to continuation coverage mandated by
section 4980B of the Code) of the Company and its Subsidiaries is not Material. 
 (e) The execution and delivery
of this Agreement and the issuance and sale of the Notes hereunder will not involve any transaction that is subject to the prohibitions of section 406 of ERISA or in connection with which a tax could be imposed pursuant to section
4975(c)(1)(A)-(D) of the Code. The representation by the Company to each Purchaser in the first sentence of this Section 5.12(e) is made in reliance upon and subject to the accuracy of such Purchaser’s representation in
Section 6.2 as to the sources of the funds used to pay the purchase price of the Notes to be purchased by such Purchaser. 

Section 5.13. Private Offering by the Company. Neither the Company nor anyone acting on its behalf has offered the Notes or
any similar Securities for sale to, or solicited any offer to buy any of the same from, or otherwise approached or negotiated in respect thereof with, any Person other than the Purchasers and not more than three other Institutional Investors, each
of which has been offered the Notes at a private sale for investment. Neither the Company nor anyone acting on its behalf has taken, or will take, any action that would subject the issuance or sale of the Notes to the registration requirements of
section 5 of the Securities Act or to the registration requirements of any Securities or blue sky laws of any applicable jurisdiction. 
 Section 5.14. Use of Proceeds; Margin Regulations. The Company will apply the proceeds of the sale of the Notes to repay a portion of the Company’s $200,000,000 8.375% Notes due
February 15, 2011. 

  
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No part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the
Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any Securities under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to
involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not constitute more than 2.0% of the value of the consolidated assets of the Company and its Subsidiaries and the Company does not have any
present intention that margin stock will constitute more than 2.0% of the value of such assets. As used in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned
to them in said Regulation U. 
 Section 5.15. Existing Indebtedness; Future Liens. 

(a) Except as described therein, Schedule 5.15 sets forth a complete and correct list of all outstanding
Indebtedness of the Company and its Subsidiaries as of September 30, 2010 (including a description of the obligors and obligees, principal amount outstanding and collateral therefor, if any, and Guaranty thereof, if any), since which date there
has been no Material change in the amounts, interest rates, sinking funds, installment payments or maturities of the Indebtedness of the Company or its Subsidiaries. Neither the Company nor any Subsidiary is in default and no waiver of default is
currently in effect, in the payment of any principal or interest on any Indebtedness of the Company or such Subsidiary and no event or condition exists with respect to any Indebtedness of the Company or any Subsidiary that would permit (or that with
notice or the lapse of time, or both, would permit) one or more Persons to cause such Indebtedness to become due and payable before its stated maturity or before its regularly scheduled dates of payment. 

(b) Neither the Company nor any Subsidiary has agreed or consented to cause or permit in the future (upon the happening of
a contingency or otherwise) any of its property, whether now owned or hereafter acquired, to be subject to a Lien not permitted by Section 10.1. 
 (c) Neither the Company nor any Subsidiary is a party to, or otherwise subject to any provision contained in, any instrument evidencing Indebtedness of the Company or such Subsidiary, any agreement
relating thereto or any other agreement (including, but not limited to, its charter or other organizational document) which limits the amount of, or otherwise imposes restrictions on the incurring of, Indebtedness of the Company, except limitations
substantially the same as the limitations set forth in Sections 10.9 and 10.11. 

  
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 Section 5.16. Foreign Assets Control Regulations, Etc.  

(a) Neither the sale of the Notes by the Company hereunder nor its use of the proceeds thereof will violate the Trading
with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto. 

(b) Neither the Company nor any Subsidiary (i) is a Person described or designated in the Specially Designated
Nationals and Blocked Persons List of the Office of Foreign Assets Control or in section 1 of the Anti Terrorism Order or (ii) engages in any dealings or transactions with any such Person. The Company and its Subsidiaries are in compliance, in
all material respects, with the USA Patriot Act. 
 (c) No part of the proceeds from the sale of the Notes
hereunder will be used, directly or indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to
obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended, assuming in all cases that such Act applies to the Company. 

Section 5.17. Status under Certain Statutes. Neither the Company nor any Subsidiary is subject to regulation under the
Investment Company Act of 1940, as amended, or the ICC Termination Act of 1995, as amended. 
 Section 5.18.
Environmental Matters. 
 (a) Neither the Company nor any Subsidiary has knowledge of any claim or has
received any notice of any claim, and no proceeding has been instituted raising any claim against the Company or any of its Subsidiaries or any of their respective real properties now or formerly owned, leased or operated by any of them or other
assets, alleging any damage to the environment or violation of any Environmental Laws, except, in each case, such as could not reasonably be expected to result in a Material Adverse Effect. 

(b) Neither the Company nor any Subsidiary has knowledge of any facts which would give rise to any claim, public or
private, of violation of Environmental Laws or damage to the environment emanating from, occurring on or in any way related to real properties now or formerly owned, leased or operated by any of them or to other assets or their use, except, in each
case, such as could not reasonably be expected to result in a Material Adverse Effect. 
 (c) Neither the Company
nor any Subsidiary has stored any Hazardous Materials on real properties now or formerly owned, leased or operated by any of them and has not disposed of any Hazardous Materials in a manner contrary to any Environmental Laws in each case in any
manner that could reasonably be expected to result in a Material Adverse Effect. 

  
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 (d) All buildings on all real properties now owned, leased or operated by
the Company or any Subsidiary are in compliance with applicable Environmental Laws, except where failure to comply could not reasonably be expected to result in a Material Adverse Effect. 
 SECTION 6. REPRESENTATIONS OF THE PURCHASERS. 
 Section 6.1.
Purchase for Investment. Each Purchaser severally represents that it is purchasing the Notes for its own account or for one or more separate accounts maintained by such Purchaser or for the account of one or more pension or trust funds and not
with a view to the distribution thereof, provided that the disposition of such Purchaser’s or their property shall at all times be within such Purchaser’s or their control. Each Purchaser understands that the Notes have not been
registered under the Securities Act and may be resold only if registered pursuant to the provisions of the Securities Act or if an exemption from registration is available, except under circumstances where neither such registration nor such an
exemption is required by law, and that the Company is not required to register the Notes. 
 Section 6.2. Source of
Funds. Each Purchaser severally represents that at least one of the following statements is an accurate representation as to each source of funds (a “Source”) to be used by such Purchaser to pay the purchase price of the Notes
to be purchased by such Purchaser hereunder: 
 (a) the Source is an “insurance company general
account” (as the term is defined in the United States Department of Labor’s Prohibited Transaction Exemption (“PTE”) 95-60) in respect of which the reserves and liabilities (as defined by the annual statement for life
insurance companies approved by the NAIC (the “NAIC Annual Statement”)) for the general account contract(s) held by or on behalf of any employee benefit plan together with the amount of the reserves and liabilities for the general
account contract(s) held by or on behalf of any other employee benefit plans maintained by the same employer (or affiliate thereof as defined in PTE 95-60) or by the same employee organization in the general account do not exceed 10% of the total
reserves and liabilities of the general account (exclusive of separate account liabilities) plus surplus as set forth in the NAIC Annual Statement filed with such Purchaser’s state of domicile; or 

(b) the Source is a separate account that is maintained solely in connection with such Purchaser’s fixed contractual
obligations under which the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such separate account (or to any participant or beneficiary of such plan (including any annuitant)) are not
affected in any manner by the investment performance of the separate account; or 

  
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 (c) the Source is either (i) an insurance company pooled separate
account, within the meaning of PTE 90-1 or (ii) a bank collective investment fund, within the meaning of the PTE 91-38 and, except as disclosed by such Purchaser to the Company in writing pursuant to this clause (c), no employee benefit plan or
group of plans maintained by the same employer or employee organization beneficially owns more than 10% of all assets allocated to such pooled separate account or collective investment fund; or 

(d) the Source constitutes assets of an “investment fund” (within the meaning of Part V of PTE 84-14 (the
“QPAM Exemption”)) managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part V of the QPAM Exemption), no employee benefit plan’s assets that are included in such investment
fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning of section V(c)(1) of the QPAM Exemption) of such employer or by the same employee
organization and managed by such QPAM, exceed 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are satisfied, neither the QPAM nor a Person controlling or controlled by the QPAM
(applying the definition of “control” in section V(e) of the QPAM Exemption) owns a 5% or more interest in the Company and (i) the identity of such QPAM and (ii) the names of all employee benefit plans whose assets are included
in such investment fund have been disclosed to the Company in writing pursuant to this clause (d); or 
 (e) the
Source constitutes assets of a “plan(s)” (within the meaning of section IV of PTE 96-23 (the “INHAM Exemption”)) managed by an “in-house asset manager” or “INHAM” (within the meaning of Part IV of the
INHAM Exemption), the conditions of Part I(a), (g) and (h) of the INHAM Exemption are satisfied, neither the INHAM nor a Person controlling or controlled by the INHAM (applying the definition of “control” in section IV(d) of the
INHAM Exemption) owns a 5% or more interest in the Company and (i) the identity of such INHAM and (ii) the name(s) of the employee benefit plan(s) whose assets constitute the Source have been disclosed to the Company in writing pursuant to
this clause (e); or 
 (f) the Source is a governmental plan; or 

(g) the Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more
employee benefit plans, each of which has been identified to the Company in writing pursuant to this clause (g); or 
 (h) the Source does not include assets of any employee benefit plan, other than a plan exempt from the coverage of ERISA. 
 As used in this Section 6.2, the terms “employee benefit plan,” “governmental plan,” and “separate account” shall have the respective meanings assigned to
such terms in section 3 of ERISA. 

  
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 SECTION 7. INFORMATION AS TO COMPANY. 

Section 7.1. Financial and Business Information. The Company shall deliver to each Purchaser (so long as it is obligated to
purchase Notes hereunder) and to each holder of Notes that is an Institutional Investor: 
 (a) Quarterly
Statements — within 60 days (or such shorter period as is 15 days greater than the period applicable to the filing of the Company’s Quarterly Report on Form 10-Q (the “Form 10-Q”) with the SEC regardless of whether the
Company is subject to the filing requirements thereof) after the end of each quarterly fiscal period in each fiscal year of the Company (other than the last quarterly fiscal period of each such fiscal year), duplicate copies of, 

(i) a consolidated balance sheet of the Company and its Subsidiaries as at the end of such quarter, and 

(ii) consolidated statements of income, changes in shareholders’ equity and cash flows of the Company and its
Subsidiaries, for such quarter and (in the case of the second and third quarters) for the portion of the fiscal year ending with such quarter, 
 setting forth in each case in comparative form the figures for the corresponding periods in the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP applicable to quarterly
financial statements generally, and certified by a Senior Financial Officer as fairly presenting, in all material respects, the financial position of the companies being reported on and their results of operations and cash flows, subject to changes
resulting from year-end adjustments, provided that delivery within the time period specified above of copies of the Company’s Form 10-Q prepared in compliance with the requirements therefor and filed with the SEC shall be deemed to
satisfy the requirements of this Section 7.1(a), provided, further, that the Company shall be deemed to have made such delivery of such Form 10-Q if it shall have timely made such Form 10-Q available on “EDGAR” and on its home
page on the worldwide web (at the date of this Agreement located at: http//www.swgas.com) (such availability being referred to as “Electronic Delivery”); 

(b) Annual Statements — within 105 days (or such shorter period as is 15 days greater than the period
applicable to the filing of the Company’s Annual Report on Form 10-K (the “Form 10-K”) with the SEC regardless of whether the Company is subject to the filing requirements thereof) after the end of each fiscal year of the
Company, duplicate copies of 
 (i) a consolidated balance sheet of the Company and its Subsidiaries as at the
end of such year, and 
 (ii) consolidated statements of income, changes in shareholders’ equity and cash
flows of the Company and its Subsidiaries for such year, 
 setting forth in each case in comparative form the figures for the
previous fiscal year, all in reasonable detail, prepared in accordance with GAAP, and accompanied by 

  
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 (A) an opinion thereon of independent public accountants of recognized
national standing, which opinion shall state that such financial statements present fairly, in all material respects, the financial position of the companies being reported upon and their results of operations and cash flows and have been prepared
in conformity with GAAP, and that the examination of such accountants in connection with such financial statements has been made in accordance with generally accepted auditing standards, and that such audit provides a reasonable basis for such
opinion in the circumstances, and 
 (B) a certificate of such accountants stating that they have reviewed this
Agreement and stating further whether, in making their audit, they have become aware of any condition or event that then constitutes a Default or an Event of Default, and, if they are aware that any such condition or event then exists, specifying
the nature and period of the existence thereof (it being understood that such accountants shall not be liable, directly or indirectly, for any failure to obtain knowledge of any Default or Event of Default unless such accountants should have
obtained knowledge thereof in making an audit in accordance with generally accepted auditing standards or did not make such an audit), 
 provided that the delivery within the time period specified above of the Company’s Form 10-K for such fiscal year (together with the Company’s annual report to shareholders, if any,
prepared pursuant to Rule 14a-3 under the Exchange Act) prepared in accordance with the requirements therefor and filed with the SEC, together with the accountant’s certificate described in clause (B) above (the “Accountants’
Certificate”), shall be deemed to satisfy the requirements of this Section 7.1(b), provided, further, that the Company shall be deemed to have made such delivery of such Form 10-K if it shall have timely made Electronic Delivery
thereof, in which event the Company shall separately deliver, concurrently with such Electronic Delivery, the Accountants’ Certificate; 
 (c) SEC and Other Reports — promptly upon their becoming available, one copy of (i) each financial statement, report, notice or proxy statement sent by the Company or any Subsidiary to
its principal lending banks as a whole (excluding information sent to such banks in the ordinary course of administration of a bank facility, such as information relating to pricing and borrowing availability) or to its public Securities holders
generally, and (ii) each regular or periodic report, each registration statement (without exhibits except as expressly requested by such holder), and each prospectus and all amendments thereto filed by the Company or any Subsidiary with the SEC
and of all press releases and other statements made available generally by the Company or any Subsidiary to the public concerning developments that are Material; 

(d) Notice of Default or Event of Default — promptly, and in any event within five days after a Responsible
Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with
respect to a claimed default of the type referred to in Section 11(g), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto; 

  
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 (e) ERISA Matters — promptly, and in any event within five days
after a Responsible Officer becoming aware of any of the following, a written notice setting forth the nature thereof and the action, if any, that the Company or an ERISA Affiliate proposes to take with respect thereto: 

(i) with respect to any Plan, any reportable event, as defined in section 4043(c) of ERISA and the regulations thereunder,
for which notice thereof has not been waived pursuant to such regulations as in effect on the date hereof; or 

(ii) the taking by the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under
section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan, or the receipt by the Company or any ERISA Affiliate of a notice from a Multi-employer Plan that such action has been taken by the PBGC with
respect to such Multi-employer Plan; or 
 (iii) any event, transaction or condition that could result in the
incurrence of any liability by the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, or in the imposition of any Lien on any of the rights,
properties or assets of the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or such penalty or excise tax provisions, if such liability or Lien, taken together with any other such liabilities or Liens then existing, could
reasonably be expected to have a Material Adverse Effect; 
 (f) Notices from Governmental Authority
— promptly, and in any event within 30 days of receipt thereof, copies of any notice to the Company or any Subsidiary from any federal or state Governmental Authority relating to any order, ruling, statute or other law or regulation that could
reasonably be expected to have a Material Adverse Effect; and 
 (g) Requested Information — with
reasonable promptness, such other data and information relating to the business, operations, affairs, financial condition, assets or properties of the Company or any of its Subsidiaries (including, but without limitation, actual copies of the
Company’s Form 10-Q and Form 10-K) or relating to the ability of the Company to perform its obligations hereunder and under the Notes as from time to time may be reasonably requested by any such holder of Notes. 

  
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 Section 7.2. Officer’s Certificate. Each set of financial statements
delivered pursuant to Section 7.1(a) or Section 7.1(b) shall be accompanied by a certificate of a Senior Financial Officer setting forth (which, in the case of Electronic Delivery of any such financial statements, shall be by separate
concurrent delivery of such certificate to each holder of Notes): 
 (a) Covenant Compliance — the
information (including detailed calculations) required in order to establish whether the Company was in compliance with the requirements of Section 10.9, Section 10.10, and Section 10.11 as of the end of the quarterly or annual period
covered by the statements then being furnished (including with respect to each such Section, where applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such Sections,
and the calculation of the amount, ratio or percentage then in existence); and 
 (b) Event of Default
— a statement that such Senior Financial Officer has reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, a review of the transactions and conditions of the Company and its Subsidiaries from the
beginning of the quarterly or annual period covered by the statements then being furnished to the date of the certificate and that such review shall not have disclosed the existence during such period of any condition or event that constitutes a
Default or an Event of Default or, if any such condition or event existed or exists (including, without limitation, any such event or condition resulting from the failure of the Company or any Subsidiary to comply with any Environmental Law),
specifying the nature and period of existence thereof and what action the Company shall have taken or proposes to take with respect thereto. 
 Section 7.3. Visitation. The Company shall permit the representatives of each holder of Notes that is an Institutional Investor: 

(a) No Default — if no Default or Event of Default then exists, at the expense of such holder and upon
reasonable prior notice to the Company, to visit the principal executive office of the Company, to discuss the affairs, finances and accounts of the Company and its Subsidiaries with the Company’s officers, and (with the consent of the Company,
which consent will not be unreasonably withheld) its independent public accountants, and (with the consent of the Company, which consent will not be unreasonably withheld) to visit the other offices and properties of the Company and each Subsidiary,
all at such reasonable times and as often as may be reasonably requested in writing; and 
 (b) Default
— if a Default or Event of Default then exists, at the expense of the Company to visit and inspect any of the offices or properties of the Company or any Subsidiary, to examine all their respective books of account, records, reports and other
papers, to make copies and extracts therefrom, and to discuss their respective affairs, finances and accounts with their respective officers and independent public accountants (and by this provision the Company authorizes said accountants to discuss
the affairs, finances and accounts of the Company and its Subsidiaries), all at such times and as often as may be requested. 

  
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 SECTION 8. PAYMENT AND PREPAYMENT OF THE NOTES. 

Section 8.1. Maturity. As provided therein, the entire unpaid principal balance of the Notes shall be due and payable on the
stated maturity date thereof. 
 Section 8.2. Optional Prepayments with Make-Whole Amount. The Company may, at its
option, upon notice as provided below, prepay at any time all, or from time to time any part of, the Notes, in an amount not less than 5% of the aggregate principal amount of the Notes then outstanding in the case of a partial prepayment, at 100% of
the principal amount so prepaid, and the Make-Whole Amount determined for the prepayment date with respect to such principal amount. The Company will give each holder of Notes written notice of each optional prepayment under this Section 8.2
not less than 30 days and not more than 60 days prior to the date fixed for such prepayment. Each such notice shall specify such date (which shall be a Business Day), the aggregate principal amount of the Notes to be prepaid on such date, the
principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.3), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a
certificate of a Senior Financial Officer as to the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation. Two
Business Days prior to such prepayment, the Company shall deliver to each holder of Notes a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified prepayment date. 

Section 8.3. Allocation of Partial Prepayments. In the case of each partial prepayment of the Notes, the principal amount of
the Notes to be prepaid shall be allocated among all of the Notes at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment. 

Section 8.4. Maturity; Surrender, Etc. In the case of each prepayment of Notes pursuant to this Section 8, the principal
amount of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment (which shall be a Business Day), together with interest on such principal amount accrued to such date and the applicable Make-Whole
Amount, if any. From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall cease to
accrue. Any Note paid or prepaid in full shall be surrendered to the Company and cancelled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note. 

Section 8.5. Purchase of Notes. The Company will not and will not permit any Affiliate to purchase, redeem, prepay or
otherwise acquire, directly or indirectly, any of the outstanding Notes except upon the payment or prepayment of the Notes in accordance with the terms of this Agreement and the Notes. The Company will promptly cancel all Notes acquired by it or any
Affiliate pursuant to any payment or prepayment of Notes pursuant to any provision of this Agreement and no Notes may be issued in substitution or exchange for any such Notes. 

  
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 Section 8.6. Make-Whole Amount. 

“Make-Whole Amount” means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value of
the Remaining Scheduled Payments with respect to the Called Principal of such Note over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero. For the purposes of determining the Make-Whole
Amount, the following terms have the following meanings: 
 “Called Principal” means, with respect to any Note,
the principal of such Note that is to be prepaid pursuant to Section 8.2 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 

“Discounted Value” means, with respect to the Called Principal of any Note, the amount obtained by discounting all
Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor
(applied on the same periodic basis as that on which interest on the Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal. 
 “Reinvestment Yield” means, with respect to the Called Principal of any Note, 0.50% over the yield to maturity implied by (i) the yields reported as of 10:00 a.m. (New York City
time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1” (or such other display as may replace Page PX1) on Bloomberg Financial Markets for the most
recently issued actively traded on the run U.S. Treasury Securities having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date, or (ii) if such yields are not reported as of such time or the yields
reported as of such time are not ascertainable (including by way of interpolation), the Treasury Constant Maturity Series Yields reported, for the latest day for which such yields have been so reported as of the second Business Day preceding the
Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for U.S. Treasury Securities having a constant maturity equal to the Remaining Average Life of such Called
Principal as of such Settlement Date. 
 In the case of each determination under clause (i) or clause (ii), as the case may
be, of the preceding paragraph, such implied yield will be determined, if necessary, by (a) converting U.S. Treasury bill quotations to bond equivalent yields in accordance with accepted financial practice and (b) interpolating linearly
between (1) the applicable actively traded on the run U.S. Treasury Security with the maturity closest to and greater than such Remaining Average Life and (2) the applicable actively traded on the run U.S. Treasury Security with the
maturity closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note. 

“Remaining Average Life” means, with respect to any Called Principal, the number of years (calculated to the nearest
one-twelfth year) obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by
(b) the number of years (calculated to the nearest one-twelfth year) that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment. 

  
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 “Remaining Scheduled Payments” means, with respect to the Called Principal
of any Note, all payments of such Called Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date,
provided that if such Settlement Date is not a date on which interest payments are due to be made under the terms of the Notes, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest
accrued to such Settlement Date and required to be paid on such Settlement Date pursuant to Section 8.2 or Section 12.1. 
 “Settlement Date” means, with respect to the Called Principal of any Note, the date on which such Called Principal is to be prepaid pursuant to Section 8.2 or has become or is
declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 
 Section 8.7.
Mandatory Offer to Prepay in Event of Change in Control. 
 (a) Notice of Change in Control or Control
Event — The Company will, within five Business Days after any Responsible Officer has knowledge of the occurrence of any Change in Control or Control Event, give written notice of such Change in Control or Control Event to each holder of
Notes unless notice in respect of such Change in Control (or the Change in Control contemplated by such Control Event) shall have been given pursuant to subparagraph (b) of this Section 8.7. If a Change in Control has occurred, such notice
shall contain and constitute an offer to each holder of Notes to prepay Notes as described in subparagraph (c) of this Section 8.7 and shall be accompanied by the certificate described in subparagraph (f) of this Section 8.7.

 (b) Condition to Company Action — The Company will not take any action that consummates or
finalizes a Change in Control unless (i) at least 30 days prior to such action it shall have given to each holder of Notes written notice containing and constituting an offer to prepay Notes as described in subparagraph (c) of this
Section 8.7, accompanied by the certificate described in subparagraph (f) of this Section 8.7, and (ii) contemporaneously with such action, it prepays all Notes required to be prepaid in accordance with this Section 8.7.

 (c) Offer to Prepay Notes — The offer to prepay Notes contemplated by subparagraphs (a) and
(b) of this Section 8.7 shall be an offer to prepay, in accordance with and subject to this Section 8.7, all, but not less than all, the Notes held by each holder (in this case only, “holder” in respect of any Note
registered in the name of a nominee for a disclosed beneficial owner shall mean such beneficial owner) on a date specified in such offer (the “Proposed Prepayment Date”). 

(i) If such Proposed Prepayment Date is in connection with an offer relating to a Change in Control
that has already occurred, such date shall be not less than 30 days and not more than 60 days after the date of such offer (if the Proposed Prepayment Date shall not be specified in such offer, the Proposed Prepayment Date shall be the 60th day after the date of such offer). 

  
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 (ii) If such Proposed Prepayment Date is in connection with an offer
relating to a Change in Control that has not yet occurred, such date shall be the expected date of the occurrence of such Change in Control (as can best be determined by the Company at the time it makes such offer). In the event that the expected
date of the occurrence of such Change in Control changes or such Change in Control does not occur on the Proposed Prepayment Date in respect thereof, the prepayment shall be deferred until and shall be made on the date on which such Change in
Control occurs. The Company shall keep each holder of Notes reasonably and timely informed of (A) any such change or deferral of the date of prepayment, (B) the date on which such Change in Control and the prepayment are expected to occur
(as can best be determined by the Company from time to time), and (C) any determination by the Company that efforts to effect such Change in Control have ceased or been abandoned (in which case the offers and acceptances made pursuant to this
Section 8.7 in respect of such Change in Control shall be deemed rescinded). 
 Any notice containing and constituting such
offer shall be dated the date on which it is first given to the holders of Notes and such notices to all holders of Notes shall bear the same date. 
 (d) Acceptance — A holder of Notes may accept the offer to prepay made pursuant to this Section 8.7 by causing a notice of such acceptance to be delivered to the Company at least 10 days
prior to the Proposed Prepayment Date. A failure by a holder of Notes to respond to an offer to prepay made pursuant to this Section 8.7 shall be deemed to constitute an acceptance of such offer by such holder. 

(e) Prepayment — Prepayment of the Notes to be prepaid pursuant to this Section 8.7 shall be at 100% of
the principal amount of such Notes plus a premium equal to 1% of such principal amount, together with interest on such Notes accrued to the date of prepayment. The prepayment shall be made on the Proposed Prepayment Date except as provided in
subparagraph (c)(ii) of this Section 8.7. The obligation of the Company to prepay Notes pursuant to the offers required by subparagraph (b) and accepted in accordance with subparagraph (d) of this Section 8.7 is subject to the
occurrence of the Change in Control in respect of which such offers and acceptances shall have been made. 
 (f)
Officer’s Certificate — Each offer to prepay the Notes pursuant to this Section 8.7 shall be accompanied by a certificate, executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying:
(i) the Proposed Prepayment Date; (ii) that such offer is made pursuant to this Section 8.7; (iii) the principal amount of each Note offered to be prepaid; (iv) the amount of the premium specified in Section 8.7(e), if
any, due in connection with such prepayment; (v) the interest that would be due on each Note offered to be prepaid, accrued to the Proposed Prepayment Date; (vi) that the conditions of this Section 8.7 have been fulfilled; and
(vii) in reasonable detail, the nature and date or expected date of the Change in Control (as can best be determined by the Company at the time it makes such offer). 

  
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 SECTION 9. AFFIRMATIVE COVENANTS. 

The Company covenants that so long as any Purchaser is committed to purchase any of the Notes hereunder or any of the Notes are
outstanding: 
 Section 9.1. Compliance with Law. Without limiting Section 10.7, the Company will, and will
cause each of its Subsidiaries to, comply with all laws, ordinances or governmental rules or regulations to which each of them is subject, including, without limitation, ERISA, the USA Patriot Act and Environmental Laws, and will obtain and maintain
in effect all licenses, certificates, permits, franchises and other governmental authorizations necessary to the ownership of their respective properties or to the conduct of their respective businesses, in each case to the extent necessary to
ensure that non-compliance with such laws, ordinances or governmental rules or regulations or failures to obtain or maintain in effect such licenses, certificates, permits, franchises and other governmental authorizations could not, individually or
in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 Section 9.2. Insurance. The Company
will, and will cause each of its Subsidiaries to, maintain, with financially sound and reputable insurers, insurance with respect to their respective properties and businesses against such casualties and contingencies, of such types, on such terms
and in such amounts (including deductibles, co-insurance and self-insurance, if adequate reserves are maintained with respect thereto) as is customary in the case of entities of established reputations engaged in the same or a similar business and
similarly situated. 
 Section 9.3. Maintenance of Properties. The Company will, and will cause each of its
Subsidiaries to, maintain and keep, or cause to be maintained and kept, their respective properties in good repair, working order and condition (other than ordinary wear and tear), so that the business carried on in connection therewith may be
properly conducted at all times, provided that this Section shall not prevent the Company or any Subsidiary from discontinuing the operation and the maintenance of any of its properties if such discontinuance is desirable in the conduct of
its business and the Company has concluded that such discontinuance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 Section 9.4. Payment of Taxes and Claims. The Company will, and will cause each of its Subsidiaries to, file all tax returns required to be filed in any jurisdiction and to pay and discharge
all taxes shown to be due and payable on such returns and all other taxes, assessments, governmental charges, or levies imposed on them or any of their properties, assets, income or franchises, to the extent the same have become due and payable and
before they have become delinquent and all claims for which sums have become due and payable that have or might become a Lien on properties or assets of the Company or any Subsidiary, provided that neither the Company nor any Subsidiary need
pay 

  
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any such tax, assessment, charge, levy or claim if (i) the amount, applicability or validity thereof is contested by the Company or such Subsidiary on a timely basis in good faith and in
appropriate proceedings, and the Company or a Subsidiary has established adequate reserves therefor in accordance with GAAP on the books of the Company or such Subsidiary or (ii) the failure to file or nonpayment of all such taxes, assessments,
charges, levies and claims in the aggregate could not reasonably be expected to have a Material Adverse Effect. 

Section 9.5. Corporate Existence, Etc. Subject to Section 10.2, the Company will at all times preserve and keep in full
force and effect its corporate existence. Subject to Section 10.2, the Company will at all times preserve and keep in full force and effect the corporate existence of each of its Subsidiaries (unless merged into the Company or a Wholly-Owned
Subsidiary) and all rights and franchises of the Company and its Subsidiaries unless, in the good faith judgment of the Company, the termination of or failure to preserve and keep in full force and effect such corporate existence, right or franchise
could not, individually or in the aggregate, have a Material Adverse Effect. 
 Section 9.6. Books and Records. The
Company will, and will cause each of its Subsidiaries to, maintain proper books of record and account in conformity with GAAP and all applicable requirements of any Governmental Authority having legal or regulatory jurisdiction over the Company or
such Subsidiary, as the case may be. 
 SECTION 10. NEGATIVE COVENANTS. 

The Company covenants that so long as any Purchaser is committed to purchase any of the Notes hereunder or any of the Notes are
outstanding: 
 Section 10.1. Liens. The Company will not create or suffer to exist, or permit any of its
Subsidiaries to create or suffer to exist, any Lien upon or with respect to any of its property except Permitted Liens, unless and until the Company makes or causes to be made effective provision whereby the Notes will be secured equally and ratably
with any and all other obligations thereby secured, such security to be pursuant to agreements reasonably satisfactory in writing to the Required Holders and, in any such case, the Notes shall have the benefit, to the fullest extent that, and with
such priority as, the holders of the Notes may be entitled under applicable law, of an equitable Lien on such property. 

Section 10.2. Merger, Consolidation, Etc. The Company will not consolidate with or merge with any other Person or convey,
transfer or lease all or substantially all of its assets in a single transaction or series of transactions to any Person unless: 
 (a) the successor formed by such consolidation or the survivor of such merger or the Person that acquires by conveyance, transfer or lease all or substantially all of the assets of the Company as an
entirety, as the case may be, shall be a solvent corporation or limited liability company organized and existing under the laws of the United States or any State thereof (including the District of Columbia), and, if the Company is not such

  
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corporation or limited liability company, (i) such corporation or limited liability company shall have executed and delivered to each holder of any Notes its assumption of the due and
punctual performance and observance of each covenant and condition of this Agreement and the Notes and (ii) such corporation or limited liability company shall have caused to be delivered to each holder of any Notes an opinion of nationally
recognized independent counsel, or other independent counsel reasonably satisfactory to the Required Holders, to the effect that all agreements or instruments effecting such assumption are enforceable in accordance with their terms and comply with
the terms hereof; and 
 (b) immediately before and immediately after giving effect to such transaction, no
Default or Event of Default shall have occurred and be continuing. 
 No such conveyance, transfer or lease of substantially all of the assets
of the Company shall have the effect of releasing the Company or any successor corporation or limited liability company that shall theretofore have become such in the manner prescribed in this Section 10.2 from its liability under this
Agreement or the Notes. 
 Section 10.3. Investments and Acquisitions. The Company will not make, or permit any of
its Significant Subsidiaries to make, any Investments or Acquisitions except (1) for Permitted Investments, (2) as required by any Governmental Authority, and (3) for Acquisitions, provided that: 

(a) immediately before or after giving effect to each Acquisition, no Default shall or would exist, and immediately after
giving effect thereto, all of the representations and warranties contained in this Agreement shall be true and correct with the same effect as though then made, 
 (b) the Person or business acquired is engaged in the same line of business as the Company or any Significant Subsidiary, 

(c) the Company shall have delivered to each holder of Notes notice thereof not less than ten days prior to the
consummation of such Acquisition, 
 (d) the Company shall have delivered to each holder of Notes a certificate
of a financial officer thereof, in all respects reasonably satisfactory to such holders and dated the date of such consummation, 
 (i) certifying that prior to and after giving effect to such Acquisition and based on the most recent financial statements delivered pursuant to Section 7.1(b), the Company is and will be in
compliance with Sections 10.9, 10.10, and 10.11, and 
 (ii) providing or attaching such other information,
documents and other items as the Required Holders shall have reasonably requested. 

  
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 Section 10.4. Transactions with Affiliates. The Company will not and will not
permit any Subsidiary to enter into directly or indirectly any transaction or group of related transactions (including without limitation the purchase, lease, sale or exchange of properties of any kind or the rendering of any service) with any
Affiliate (other than the Company or another Subsidiary), except pursuant to the reasonable requirements of the Company’s or such Subsidiary’s business and upon fair and reasonable terms no less favorable to the Company or such Subsidiary
than would be obtainable in a comparable arm’s-length transaction with a Person not an Affiliate. 
 Section 10.5.
Restricted Payments. The Company will not declare or make any dividend payment or other distribution of assets, properties, cash, rights, obligations or Securities on account of any shares of any class of its capital stock or purchase, redeem or
otherwise acquire for value (or permit any of its Subsidiaries to do so) any shares of its capital stock or any warrants, rights or options to acquire such shares, now or hereafter outstanding if a Default or Event of Default has occurred and is
continuing or would result therefrom. 
 Section 10.6. Line of Business, Etc. 

(a) The Company will not and will not permit any Subsidiary to engage in any business if, as a result, the general nature
of the business in which the Company and its Subsidiaries, taken as a whole, would then be engaged would be substantially changed from the general nature of the business in which the Company and its Subsidiaries, taken as a whole, are engaged on the
date of this Agreement. 
 (b) The Company will not transfer any Material portion of the assets used in its
natural gas operations as conducted as of the date hereof to any one or more of its Subsidiaries, nor will the Company permit any Material portion of such operations to be conducted through or by any one or more of its Subsidiaries. 

Section 10.7. Terrorism Sanctions Regulations. The Company will not and will not permit any Subsidiary to (a) become a
Person described or designated in the Specially Designated Nationals and Blocked Persons List of the Office of Foreign Assets Control or in section 1 of the Anti Terrorism Order or (b) engage in any dealings or transactions with any such
Person. 
 Section 10.8. Guaranties. The Company will not cause or permit any Person to guarantee the obligations of
the Company under any Primary Bank Facility unless and until the Company causes such Person to guarantee the obligations of the Company under this Agreement and the Notes pursuant to an agreement or agreements reasonably acceptable in writing to the
Required Holders. For avoidance of doubt, this Section 10.8 shall not in any way prohibit the Company from causing or permitting any Person to guarantee the obligations of any Subsidiary under any Primary Bank Facility. 

Section 10.9. Leverage Ratio. The Company will not permit the ratio of Funded Debt to Total Capitalization to exceed 0.70 to
1.00 as of the end of any quarter of any fiscal year. 

  
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 Section 10.10. Net Worth. The Company will not permit its Net Worth to be less
than $550,000,000 as of the end of any quarter of any fiscal year. 
 Section 10.11. Priority Debt. The Company will
not permit Priority Debt to exceed 10% of Total Capitalization as of the end of any quarter of any fiscal year. 
 SECTION 11. EVENTS OF
DEFAULT. 
 An “Event of Default” shall exist if any of the following conditions or events shall occur and
be continuing: 
 (a) the Company defaults in the payment of any principal or Make-Whole Amount, if any, on any
Note when the same becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise; or 
 (b) the Company defaults in the payment of any interest on any Note for more than five Business Days after the same becomes due and payable; or 

(c) the Company defaults in the performance of or compliance with any term contained in Section 7.1(d) or
Section 10.9, 10.10, or 10.11; or 
 (d) the Company defaults in the performance of or compliance with any
term contained in Section 10.1 and such default is not remedied within 30 days after the earlier of (i) a Responsible Officer obtaining actual knowledge of such default and (ii) the Company receiving written notice of such default
from any holder of a Note (any such written notice to be identified as a “notice of default” and to refer specifically to this Section 11(d)); or 
 (e) the Company defaults in the performance of or compliance with any term contained herein (other than those referred to in Sections 11(a), (b), (c), and (d)) and such default is not remedied within 30
days after the earlier of (i) a Responsible Officer obtaining actual knowledge of such default and (ii) the Company receiving written notice of such default from any holder of a Note (any such written notice to be identified as a
“notice of default” and to refer specifically to this Section 11(e)); or 
 (f) any representation
or warranty made in writing by or on behalf of the Company or by any officer of the Company in this Agreement or in any writing furnished in connection with the transactions contemplated hereby proves to have been false or incorrect in any material
respect on the date as of which made; or 
 (g) (i) the Company or any Subsidiary is in default (as principal or
as guarantor or other surety) in the payment of any principal of or premium or make-whole amount or interest on any Indebtedness that is outstanding in an aggregate principal amount of at least $10,000,000 beyond any period of grace provided with
respect thereto, or (ii) the Company or any Subsidiary is in default in the performance of or compliance 

  
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with any term of any evidence of any Indebtedness in an aggregate outstanding principal amount of at least $10,000,000 or of any mortgage, indenture or other agreement relating thereto or any
other condition exists, and as a consequence of such default or condition such Indebtedness has become, or has been declared (or one or more Persons are entitled to declare such Indebtedness to be), due and payable before its stated maturity or
before its regularly scheduled dates of payment, or (iii) as a consequence of the occurrence or continuation of any event or condition (other than the passage of time or the right of the holder of Indebtedness to convert such Indebtedness into
equity interests), (x) the Company or any Subsidiary has become obligated to purchase or repay Indebtedness before its regular maturity or before its regularly scheduled dates of payment in an aggregate outstanding principal amount of at least
$10,000,000, or (y) one or more Persons have the right to require the Company or any Subsidiary so to purchase or repay such Indebtedness; or 
 (h) the Company or any Subsidiary (i) is generally not paying, or admits in writing its inability to pay, its debts as they become due, (ii) files, or consents by answer or otherwise to the
filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy, for liquidation or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any
jurisdiction, (iii) makes an assignment for the benefit of its creditors, (iv) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of
its property, (v) is adjudicated as insolvent or to be liquidated, or (vi) takes corporate action for the purpose of any of the foregoing; or 
 (i) a court or other Governmental Authority of competent jurisdiction enters an order appointing, without consent by the Company or any of its Subsidiaries, a custodian, receiver, trustee or other officer
with similar powers with respect to it or with respect to any substantial part of its property, or constituting an order for relief or approving a petition for relief or reorganization or any other petition in bankruptcy or for liquidation or to
take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation of the Company or any of its Subsidiaries, or any such petition shall be filed against the Company or any of its
Subsidiaries and such petition shall not be dismissed within 60 days; or 
 (j) a final judgment or judgments for
the payment of money aggregating in excess of $10,000,000 are rendered against one or more of the Company and its Subsidiaries and which judgments are not, within 60 days after entry thereof, bonded, discharged or stayed pending appeal, or are not
discharged within 60 days after the expiration of such stay; or 
 (k) if (i) any Plan shall fail to satisfy
the minimum funding standards of ERISA or the Code for any plan year or part thereof or a waiver of such standards or extension of any amortization period is sought or granted under section 412 of the Code, (ii) a notice of intent to terminate
any Plan shall have been or is reasonably expected to be filed with the PBGC or the PBGC shall have instituted proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have

  
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notified the Company or any ERISA Affiliate that a Plan may become a subject of any such proceedings, (iii) the aggregate “amount of unfunded benefit liabilities” (within the
meaning of section 4001(a)(18) of ERISA) under all Plans, determined in accordance with Title IV of ERISA, shall exceed 10% of the Company’s Net Worth, (iv) the Company or any ERISA Affiliate shall have incurred or is reasonably expected
to incur any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, (v) the Company or any ERISA Affiliate withdraws from any Multiemployer Plan, or (vi) the
Company or any Subsidiary establishes or amends any employee welfare benefit plan that provides post-employment welfare benefits in a manner that would increase the liability of the Company or any Subsidiary thereunder; and any such event or events
described in clauses (i) through (vi) above, either individually or together with any other such event or events, could reasonably be expected to have a Material Adverse Effect. 
 As used in Section 11(k), the terms “employee benefit plan” and “employee welfare benefit plan” shall have the respective meanings assigned to such terms in section
3 of ERISA. 
 SECTION 12. REMEDIES ON DEFAULT, ETC. 
 Section 12.1. Acceleration. 
 (a) If an Event of
Default with respect to the Company described in Section 11(h) or (i) (other than an Event of Default described in clause (i) of Section 11(h) or described in clause (vi) of Section 11(h) by virtue of the fact that such
clause encompasses clause (i) of Section 11(h)) has occurred, all the Notes then outstanding shall automatically become immediately due and payable. 
 (b) If any other Event of Default has occurred and is continuing, any holder or holders of more than 25% in principal amount of the Notes at the time outstanding may at any time at its or their option, by
notice or notices to the Company, declare all the Notes then outstanding to be immediately due and payable. 

(c) If any Event of Default described in Section 11(a) or (b) has occurred and is continuing, any holder or
holders of Notes at the time outstanding affected by such Event of Default may at any time, at its or their option, by notice or notices to the Company, declare all the Notes held by it or them to be immediately due and payable. 

Upon any Notes becoming due and payable under this Section 12.1, whether automatically or by declaration, such Notes will forthwith
mature and the entire unpaid principal amount of such Notes, plus (x) all accrued and unpaid interest thereon (including, but not limited to, interest accrued thereon at the Default Rate) and (y) the Make-Whole Amount determined in respect
of such principal amount (to the full extent permitted by applicable law), shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which are hereby waived. The Company
acknowledges, and the parties hereto agree, that each holder of a Note has the right to maintain its investment in the Notes free from repayment by the Company (except as herein specifically provided for) and that the

  
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provision for payment of a Make-Whole Amount by the Company in the event that the Notes are prepaid or are accelerated as a result of an Event of Default, is intended to provide compensation for
the deprivation of such right under such circumstances. 
 Section 12.2. Other Remedies. If any Default or Event of
Default has occurred and is continuing, and irrespective of whether any Notes have become or have been declared immediately due and payable under Section 12.1, the holder of any Note at the time outstanding may proceed to protect and enforce
the rights of such holder by an action at law, suit in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein or in any Note, or for an injunction against a violation of any of the terms hereof
or thereof, or in aid of the exercise of any power granted hereby or thereby or by law or otherwise. 
 Section 12.3.
Rescission. At any time after any Notes have been declared due and payable pursuant to Section 12.1(b) or (c), the holders of not less than 76% in principal amount of the Notes then outstanding, by written notice to the Company, may rescind
and annul any such declaration and its consequences if (a) the Company has paid all overdue interest on the Notes, all principal of and Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid other than by reason of such
declaration, and all interest on such overdue principal and Make-Whole Amount, if any, and (to the extent permitted by applicable law) any overdue interest in respect of the Notes, at the Default Rate, (b) neither the Company nor any other
Person shall have paid any amounts which have become due solely by reason of such declaration, (c) all Events of Default and Defaults, other than non-payment of amounts that have become due solely by reason of such declaration, have been cured
or have been waived pursuant to Section 17, and (d) no judgment or decree has been entered for the payment of any monies due pursuant hereto or to the Notes. No rescission and annulment under this Section 12.3 will extend to or affect
any subsequent Event of Default or Default or impair any right consequent thereon. 
 Section 12.4. No Waivers or
Election of Remedies, Expenses, Etc. No course of dealing and no delay on the part of any holder of any Note in exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice such holder’s rights, powers or
remedies. No right, power or remedy conferred by this Agreement or by any Note upon any holder thereof shall be exclusive of any other right, power or remedy referred to herein or therein or now or hereafter available at law, in equity, by statute
or otherwise. Without limiting the obligations of the Company under Section 15, the Company will pay to the holder of each Note on demand such further amount as shall be sufficient to cover all costs and expenses of such holder incurred in any
enforcement or collection under this Section 12, including, without limitation, reasonable attorneys’ fees, expenses and disbursements. 
 SECTION 13. REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES. 

Section 13.1. Registration of Notes. The Company shall keep at its principal executive office a register for the registration
and registration of transfers of Notes. The name and address of each holder of one or more Notes, 

  
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each transfer thereof and the name and address of each transferee of one or more Notes shall be registered in such register. Prior to due presentment for registration of transfer, the Person in
whose name any Note shall be registered shall be deemed and treated as the owner and holder thereof for all purposes hereof, and the Company shall not be affected by any notice or knowledge to the contrary. The Company shall give to any holder of a
Note that is an Institutional Investor promptly upon request therefor, a complete and correct copy of the names and addresses of all registered holders of Notes. 
 Section 13.2. Transfer and Exchange of Notes. Upon surrender of any Note to the Company at the address and to the attention of the designated officer (all as specified in
Section 18(iii)), for registration of transfer or exchange (and in the case of a surrender for registration of transfer accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder’s
attorney duly authorized in writing and accompanied by the relevant name, address and other information for notices of each transferee of such Note or part thereof), within ten Business Days thereafter, the Company shall execute and deliver, at the
Company’s expense (except as provided below), one or more new Notes (as requested by the holder thereof) in exchange therefor, in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note
shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit 1. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note
or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any such transfer of Notes. Notes shall
not be transferred in denominations of less than $100,000, provided that if necessary to enable the registration of transfer by a holder of its entire holding of Notes, one Note may be in a denomination of less than $100,000. Any transferee,
by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have made the representation set forth in Section 6.2. 
 Section 13.3. Replacement of Notes. Upon receipt by the Company at the address and to the attention of the designated officer (all as specified in Section 18(iii)) of evidence reasonably
satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an Institutional Investor, notice from such Institutional Investor of such ownership and such loss, theft,
destruction or mutilation), and 
 (a) in the case of loss, theft or destruction, of indemnity reasonably
satisfactory to it (provided that if the holder of such Note is, or is a nominee for, an original Purchaser or another holder of a Note with a minimum net worth of at least $100,000,000 or a Qualified Institutional Buyer, such Person’s
own unsecured agreement of indemnity shall be deemed to be satisfactory), or 
 (b) in the case of mutilation,
upon surrender and cancellation thereof, 
 within ten Business Days thereafter, the Company at its own expense shall execute and deliver, in
lieu thereof, a new Note, dated and bearing interest from the date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated Note if no interest shall have
been paid thereon. 

  
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 SECTION 14. PAYMENTS ON NOTES. 

Section 14.1. Place of Payment. Subject to Section 14.2, payments of principal, Make-Whole Amount, if any, and interest
becoming due and payable on the Notes shall be made in New York, New York at the principal office of Bank of New York Mellon in such jurisdiction. The Company may at any time, by notice to each holder of a Note, change the place of payment of the
Notes so long as such place of payment shall be either the principal office of the Company in such jurisdiction or the principal office of a bank or trust company in such jurisdiction. 

Section 14.2. Home Office Payment. So long as any Purchaser or its nominee shall be the holder of any Note, and
notwithstanding anything contained in Section 14.1 or in such Note to the contrary, the Company will pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, and interest by the method and at the address specified for
such purpose below such Purchaser’s name in Schedule A, or by such other method or at such other address as such Purchaser shall have from time to time specified to the Company in writing for such purpose, without the presentation or
surrender of such Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of any Note, such Purchaser shall surrender such Note for
cancellation, reasonably promptly after any such request, to the Company at its principal executive office or at the place of payment most recently designated by the Company pursuant to Section 14.1. Prior to any sale or other disposition of
any Note held by a Purchaser or its nominee, such Purchaser will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender such Note to the Company in
exchange for a new Note or Notes pursuant to Section 13.2. The Company will afford the benefits of this Section 14.2 to any Institutional Investor that is the direct or indirect transferee of any Note purchased by a Purchaser under this
Agreement and that has made the same agreement relating to such Note as the Purchasers have made in this Section 14.2. 

SECTION 15. EXPENSES, ETC. 
 Section 15.1. Transaction Expenses. Whether or not the transactions contemplated hereby are consummated, the Company will pay all costs and expenses (including reasonable attorneys’ fees
of a special counsel and, if reasonably required by the Required Holders, local or other counsel) incurred by the Purchasers and each other holder of a Note in connection with such transactions and in connection with any amendments, waivers or
consents under or in respect of this Agreement or the Notes (whether or not such amendment, waiver or consent becomes effective), including, without limitation: (a) the costs and expenses incurred in enforcing or defending (or determining
whether or how to enforce or defend) any rights under this Agreement or the Notes or in responding to any subpoena or other legal process or informal investigative demand issued in connection with this Agreement or the Notes, or by reason of being a
holder of any Note, (b) the costs and expenses, including 

  
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financial advisors’ fees, incurred in connection with the insolvency or bankruptcy of the Company or any Subsidiary or in connection with any work-out or restructuring of the transactions
contemplated hereby and by the Notes and (c) the costs and expenses incurred in connection with the initial filing of this Agreement and all related documents and financial information with the SVO provided, that such costs and expenses
under this clause (c) shall not exceed $3,500. The Company will pay, and will save each Purchaser and each other holder of a Note harmless from, all claims in respect of any fees, costs or expenses, if any, of brokers and finders (other than
those, if any, retained by a Purchaser or other holder in connection with its purchase of the Notes). 
 Section 15.2.
Survival. The obligations of the Company under this Section 15 will survive the payment or transfer of any Note, the enforcement, amendment or waiver of any provision of this Agreement or the Notes, and the termination of this Agreement.

 SECTION 16. SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT. 

All representations and warranties contained herein shall survive the execution and delivery of this Agreement and the Notes, the
purchase or transfer by any Purchaser of any Note or portion thereof or interest therein and the payment of any Note, and may be relied upon by any subsequent holder of a Note, regardless of any investigation made at any time by or on behalf of such
Purchaser or any other holder of a Note. All statements contained in any certificate or other instrument delivered by or on behalf of the Company pursuant to this Agreement shall be deemed representations and warranties of the Company under this
Agreement. Subject to the preceding sentence, this Agreement and the Notes embody the entire agreement and understanding between each Purchaser and the Company and supersede all prior agreements and understandings relating to the subject matter
hereof. 
 SECTION 17. AMENDMENT AND WAIVER. 
 Section 17.1. Requirements. This Agreement and the Notes may be amended, and the observance of any term hereof or of the Notes may be waived (either retroactively or prospectively), with (and
only with) the written consent of the Company and the Required Holders, except that (a) no amendment or waiver of any of the provisions of Section 1, 2, 3, 4, 5, 6 or 21 hereof, or any defined term (as it is used therein), will be
effective as to any Purchaser unless consented to by such Purchaser in writing, and (b) no such amendment or waiver may, without the written consent of the holder of each Note at the time outstanding affected thereby, (i) subject to the
provisions of Section 12 relating to acceleration or rescission, change the amount or time of any prepayment or payment of principal of, or reduce the rate or change the time of payment or method of computation of interest or of the Make-Whole
Amount on, the Notes, (ii) change the percentage of the principal amount of the Notes the holders of which are required to consent to any such amendment or waiver, or (iii) amend any of Sections 8, 11(a), 11(b), 12, 17 or 20. 

  
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 Section 17.2. Solicitation of Holders of Notes. 

(a) Solicitation. The Company will provide each holder of the Notes (irrespective of the amount of Notes then owned
by it) with sufficient information, sufficiently far in advance of the date a decision is required, to enable such holder to make an informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of the
provisions hereof or of the Notes. The Company will deliver executed or true and correct copies of each amendment, waiver or consent effected pursuant to the provisions of this Section 17 to each holder of outstanding Notes promptly following
the date on which it is executed and delivered by, or receives the consent or approval of, the requisite holders of Notes. 
 (b) Payment. The Company will not directly or indirectly pay or cause to be paid any remuneration, whether by way of supplemental or additional interest, fee or otherwise, or grant any security or
provide other credit support, to any holder of Notes as consideration for or as an inducement to the entering into by any holder of Notes of any waiver or amendment of any of the terms and provisions hereof unless such remuneration is concurrently
paid, or security is concurrently granted or other credit support concurrently provided, on the same terms, ratably to each holder of Notes then outstanding even if such holder did not consent to such waiver or amendment. 

Section 17.3. Binding Effect, etc. Any amendment or waiver consented to as provided in this Section 17 applies equally
to all holders of Notes and is binding upon them and upon each future holder of any Note and upon the Company without regard to whether such Note has been marked to indicate such amendment or waiver. No such amendment or waiver will extend to or
affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon. No course of dealing between the Company and the holder of any Note nor any delay in exercising any
rights hereunder or under any Note shall operate as a waiver of any rights of any holder of such Note. As used herein, the term “this Agreement” and references thereto shall mean this Agreement as it may from time to time be amended or
supplemented. 
 Section 17.4. Certain Notes Deemed Not to be Outstanding. Solely for the purpose of determining
whether the holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver or consent to be given under this Agreement or the Notes, or have directed the taking of any
action provided herein or in the Notes to be taken upon the direction of the holders of a specified percentage of the aggregate principal amount of Notes then outstanding, Notes directly or indirectly owned by 

(a) the Company or any of its Affiliates or 

(b) any holder that has (i) agreed to transfer such Notes to the Company or any of its Affiliates and
(ii) provided or agreed to provide, in respect of such Notes, such approval, consent or direction as a condition to such transfer shall be deemed not to be outstanding. 

  
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 SECTION 18. NOTICES. 
 All notices and communications provided for hereunder shall be in writing and sent (a) by telecopy if the sender on the same day sends a confirming copy of such notice by a recognized overnight
delivery service (charges prepaid), or (b) by registered or certified mail with return receipt requested (postage prepaid), or (c) by a recognized overnight delivery service (with charges prepaid). Any such notice must be sent: 

(i) if to any Purchaser or its nominee, to such Purchaser or nominee at the address specified for such communications in
Schedule A, or at such other address as such Purchaser or nominee shall have specified to the Company in writing, 
 (ii) if to any other holder of any Note, to such holder at such address as such other holder shall have specified to the Company in writing, or 

(iii) if to the Company, to the Company at its address set forth at the beginning hereof to the attention of Treasurer, or
at such other address as the Company shall have specified to the holder of each Note in writing. 
 Notices under this Section 18 will be
deemed given only when actually received. 
 SECTION 19. REPRODUCTION OF DOCUMENTS. 

This Agreement and all documents relating thereto, including, without limitation, (a) consents, waivers and modifications that may
hereafter be executed, (b) documents received by any Purchaser at the Closing (except the Notes themselves), and (c) financial statements, certificates and other information previously or hereafter furnished to any Purchaser, may be
reproduced by such Purchaser by any photographic, photostatic, electronic, digital, or other similar process and such Purchaser may destroy any original document so reproduced. The Company agrees and stipulates that, to the extent permitted by
applicable law, any such reproduction shall be admissible in evidence as the original itself in any judicial or administrative proceeding (whether or not the original is in existence and whether or not such reproduction was made by such Purchaser in
the regular course of business) and any enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in evidence. This Section 19 shall not prohibit the Company or any other holder of Notes from contesting
any such reproduction to the same extent that it could contest the original, or from introducing evidence to demonstrate the inaccuracy of any such reproduction. 
 SECTION 20. CONFIDENTIAL INFORMATION. 
 For the purposes of this
Section 20, “Confidential Information” means information delivered to any Purchaser by or on behalf of the Company or any Subsidiary in connection with the transactions contemplated by or otherwise pursuant to this Agreement that is
proprietary in 

  
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nature and that was clearly marked or labeled or otherwise adequately identified when received by such Purchaser as being confidential information of the Company or such Subsidiary,
provided that such term does not include information that (a) was publicly known or otherwise known to such Purchaser prior to the time of such disclosure, (b) subsequently becomes publicly known through no act or omission by such
Purchaser or any Person acting on such Purchaser’s behalf, (c) otherwise becomes known to such Purchaser other than through disclosure by the Company or any Subsidiary or (d) constitutes financial statements delivered to such
Purchaser under Section 7.1 that are otherwise publicly available. Each Purchaser will maintain the confidentiality of such Confidential Information in accordance with procedures adopted by such Purchaser in good faith to protect confidential
information of third parties delivered to such Purchaser, provided that such Purchaser may deliver or disclose Confidential Information to (i) its directors, officers, employees, agents, attorneys, trustees and Affiliates (to the extent
such disclosure reasonably relates to the administration of the investment represented by its Notes), (ii) its financial advisors and other professional advisors who agree to hold confidential the Confidential Information substantially in
accordance with the terms of this Section 20, (iii) any other holder of any Note, (iv) any Institutional Investor to which it sells or offers to sell such Note or any part thereof or any participation therein (if such Person has
agreed in writing prior to its receipt of such Confidential Information to be bound by the provisions of this Section 20), (v) any Person from which it offers to purchase any Security of the Company (if such Person has agreed in writing
prior to its receipt of such Confidential Information to be bound by the provisions of this Section 20), (vi) any federal or state regulatory authority having jurisdiction over such Purchaser, (vii) the NAIC or the SVO or, in each
case, any similar organization, or any nationally recognized rating agency that requires access to information about such Purchaser’s investment portfolio, or (viii) any other Person to which such delivery or disclosure may be necessary or
appropriate (w) to effect compliance with any law, rule, regulation or order applicable to such Purchaser, (x) in response to any subpoena or other legal process, (y) in connection with any litigation to which such Purchaser is a
party or (z) if an Event of Default has occurred and is continuing, to the extent such Purchaser may reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of the rights and
remedies under such Purchaser’s Notes and this Agreement. Each holder of a Note, by its acceptance of a Note, will be deemed to have agreed to be bound by and to be entitled to the benefits of this Section 20 as though it were a party to
this Agreement. On reasonable request by the Company in connection with the delivery to any holder of a Note of information required to be delivered to such holder under this Agreement or requested by such holder (other than a holder that is a party
to this Agreement or its nominee), such holder will enter into an agreement with the Company embodying the provisions of this Section 20. 

SECTION 21. SUBSTITUTION OF PURCHASER. 
 Each Purchaser shall have the right to substitute any one of its Affiliates as the purchaser of the Notes that it has agreed to purchase hereunder, by written notice to the Company, which notice shall be
signed by both such Purchaser and such Affiliate, shall contain such Affiliate’s agreement to be bound by this Agreement and shall contain a confirmation by such Affiliate of the accuracy with respect to it of the representations set forth in
Section 6. Upon receipt of such notice, any reference to such Purchaser in this Agreement (other than in this Section 21), shall be deemed to refer to such Affiliate in lieu of such original Purchaser. In the event that such

  
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Affiliate is so substituted as a Purchaser hereunder and such Affiliate thereafter transfers to such original Purchaser all of the Notes then held by such Affiliate, upon receipt by the Company
of notice of such transfer, any reference to such Affiliate as a “Purchaser” in this Agreement (other than in this Section 21), shall no longer be deemed to refer to such Affiliate, but shall refer to such original Purchaser, and such
original Purchaser shall again have all the rights of an original holder of the Notes under this Agreement. 
 SECTION 22.
MISCELLANEOUS. 
 Section 22.1. Successors and Assigns. All covenants and other agreements contained in this
Agreement by or on behalf of any of the parties hereto bind and inure to the benefit of their respective successors and assigns (including, without limitation, any subsequent holder of a Note) whether so expressed or not. 

Section 22.2. Payments Due on Non-Business Days. Anything in this Agreement or the Notes to the contrary notwithstanding (but
without limiting the requirement in Section 8.4 that the notice of any optional prepayment specify a Business Day as the date fixed for such prepayment), any payment of principal of or Make-Whole Amount or interest on any Note that is due on a
date other than a Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; provided that if the maturity date
of any Note is a date other than a Business Day, the payment otherwise due on such maturity date shall be made on the next succeeding Business Day and shall include the additional days elapsed in the computation of interest payable on such next
succeeding Business Day. 
 Section 22.3. Accounting Terms. All accounting terms used herein which are not expressly
defined in this Agreement have the meanings respectively given to them in accordance with GAAP. Except as otherwise specifically provided herein, (i) all computations made pursuant to this Agreement shall be made in accordance with GAAP, and
(ii) all financial statements shall be prepared in accordance with GAAP. Notwithstanding anything in this Agreement to the contrary, for purposes of determining compliance with the financial covenants set forth in Sections 10.9, 10.10, and
10.11, any election by the Company to measure an item of Indebtedness using fair value (as permitted by Statement of Financial Accounting Standards No. 159 or any similar accounting standard) shall be disregarded and such determination shall be
made instead using the outstanding principal amount of such Indebtedness. 
 Section 22.4. Severability. Any
provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction. 

Section 22.5. Construction, etc. Each covenant contained herein shall be construed (absent express provision to the contrary)
as being 

  
 -35-

 
independent of each other covenant contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other
covenant. Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person. 

For the avoidance of doubt, all Schedules and Exhibits attached to this Agreement shall be deemed to be a part hereof. 

Section 22.6. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original
but all of which together shall constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. 

Section 22.7. Governing Law. This Agreement shall be construed and enforced in accordance with, and the rights of the parties
shall be governed by, the law of the State of New York excluding choice of law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

Section 22.8. Jurisdiction and Process; Waiver of Jury Trial. 

(a) The Company irrevocably submits to the non-exclusive jurisdiction of any New York State or federal court sitting in
the Borough of Manhattan, The City of New York, over any suit, action or proceeding arising out of or relating to this Agreement or the Notes. To the fullest extent permitted by applicable law, the Company irrevocably waives and agrees not to
assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in
any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 
 (b) The Company consents to process being served by or on behalf of any holder of Notes in any suit, action or proceeding of the nature referred to in Section 22.8(a) by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), postage prepaid, return receipt requested, to it at its address specified in Section 18 or at such other address of which such holder shall then have been notified
pursuant to said Section. The Company agrees that such service upon receipt (i) shall be deemed in every respect effective service of process upon it in any such suit, action or proceeding and (ii) shall, to the fullest extent permitted by
applicable law, be taken and held to be valid personal service upon and personal delivery to it. Notices hereunder shall be conclusively presumed received as evidenced by a delivery receipt furnished by the United States Postal Service or any
reputable commercial delivery service. 
 (c) Nothing in this Section 22.8 shall affect the right of any
holder of a Note to serve process in any manner permitted by law, or limit any right that the holders of any 

  
 -36-

 
of the Notes may have to bring proceedings against the Company in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any
other jurisdiction. 
 (d) THE PARTIES HERETO HEREBY WAIVE TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT
TO THIS AGREEMENT, THE NOTES OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THEREWITH. 
 [Remainder of page
intentionally left blank; signature pages follow] 

  
 -37-

 If you are in agreement with the foregoing, please sign the form of agreement on a
counterpart of this Agreement and return it to the Company, whereupon this Agreement shall become a binding agreement between you and the Company. 
  

			
	Very truly yours,
	
	SOUTHWEST GAS CORPORATION
		
	By	 	/s/ Kenneth J. Kenny
		 	Name: Kenneth J. Kenny
		 	Title: Vice President/Finance/Treasurer

  
 Signature Page
to 
 Note Purchase Agreement 
 -S-1- 

 This Agreement is hereby accepted and agreed to as 
 of the date thereof. 
 METROPOLITAN LIFE INSURANCE COMPANY 

METLIFE INSURANCE COMPANY OF CONNECTICUT 
 By:
Metropolitan Life Insurance Company, for itself and as 
 investment manager for the above entity 

 

			
	By	 	/s/ John A. Tanyeri
		 	Name: John A. Tanyeri
		 	Title: Director

  
 Signature Page
to 
 Note Purchase Agreement 
 -S-2- 

 This Agreement is hereby accepted and agreed to as 
 of the date thereof. 
 UNION FIDELITY LIFE INSURANCE COMPANY 

By: MetLife Investment Advisors Company LLC, its 

investment adviser 
  

			
	By	 	/s/ John A. Tanyeri
		 	Name: John A. Tanyeri
		 	Title: Director

  
 Signature Page
to 
 Note Purchase Agreement 
 -S-3- 

 This Agreement is hereby accepted and agreed to as 
 of the date thereof. 
 JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) 

 

			
	By	 	/s/ Gavin R. Danaher
		 	Name: Gavin R. Danaher
		 	Title: Managing Director

  
 Signature Page
to 
 Note Purchase Agreement 
 -S-4- 

 This Agreement is hereby accepted and agreed to as 
 of the date thereof. 
 JOHN HANCOCK LIFE & HEALTH INSURANCE COMPANY 

 

			
	By	 	/s/ Gavin R. Danaher
		 	Name: Gavin R. Danaher
		 	Title: Managing Director

  
 Signature Page
to 
 Note Purchase Agreement 
 -S-5- 

 SCHEDULE A 

INFORMATION RELATING TO PURCHASERS 
 Name and Address of Purchaser: 
 METROPOLITAN LIFE INSURANCE COMPANY

 1095 Avenue of the Americas 
 New
York, New York 10036-6796 
  

					
	Principal Amount of Notes to be Purchased:	 		  	$57,000,000

 Payments: 

All payments on account of the Note shall be made by crediting in the form of bank wire transfer of Federal or other immediately available funds
(identifying each payment as Southwest Gas Corp. 6.10% Senior Notes due 2041 Private Placement Number 844895 C#7 ̧ principal, interest, make-whole amount, or otherwise, and confirming principal balance): 

 

			
	Bank:	  	
	ABA Routing #:	  	
	Account No.:	  	
	Account Name:	  	
	Ref:	  	Southwest Gas Corp. 6.10% Senior Notes due 2041

 For all
payments other than scheduled payments of principal and interest, the Company shall seek instructions from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

 Notices:  
 1. Send
All Communications and Notices to: 
 METROPOLITAN LIFE INSURANCE COMPANY 

Investments, Private Placements 
 P.O. Box 1902 
 10 Park Avenue 

Morristown, New Jersey 07962-1902 
 Attention: Director 
 Facsimile (973) 355-4250 

in each case with a copy OTHER than with respect to deliveries of financial statements to: 

METROPOLITAN LIFE INSURANCE COMPANY 
 P.O. Box 1902 
 10 Park Avenue 

Morristown, New Jersey 07962-1902 
 Attention: Chief Counsel-Securities Investments (PRIV) 
 Email:
sec_invest_law@metlife.com 

  
 -Schedule A-1-

 INFORMATION RELATING TO PURCHASERS 

Name and Address of Purchaser: 

METLIFE INSURANCE COMPANY OF CONNECTICUT 

c/o Metropolitan Life Insurance Company 
 1095
Avenue of the Americas 
 New York, New York 10036-6796 
  

					
	Principal Amount of Notes to be Purchased:	  		  	$11,000,000

 Payments: 

All payments on account of the Note shall be made by crediting in the form of bank wire transfer of Federal or other immediately available funds
(identifying each payment as Southwest Gas Corp. 6.10% Senior Notes due 2041 Private Placement Number 844895 C#7 ̧ principal, interest, make-whole amount, or otherwise, and confirming principal balance): 

 

			
	Bank:	  	
	ABA Routing #:	  	
	Account No.:	  	
	Account Name:	  	
	Ref:	  	Southwest Gas Corp. 6.10% Senior Notes due 2041

 For all
payments other than scheduled payments of principal and interest, the Company shall seek instructions from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

 Notices: 
 1. Send
All Communications and Notices to: 
 METLIFE INSURANCE COMPANY OF CONNECTICUT 

c/o Metropolitan Life Insurance Company 
 Investments, Private Placements 
 P.O. Box 1902 

10 Park Avenue 

Morristown, New Jersey 07962-1902 
 Attention: Director 
 Facsimile (973) 355-4250 

in each case with a copy OTHER than with respect to deliveries of financial statements to: 

METLIFE INSURANCE COMPANY OF CONNECTICUT 
 c/o Metropolitan Life Insurance Company 
 P.O. Box 1902 

10 Park Avenue 

Morristown, New Jersey 07962-1902 
 Attention: Chief Counsel-Securities Investments (PRIV) 
 Email:
sec_invest_law@metlife.com 

  
 -Schedule A-2-

 INFORMATION RELATING TO PURCHASERS 

Name and Address of Purchaser: 

UNION FIDELITY LIFE INSURANCE COMPANY 

c/o Jane Kipper 
 5700 Broadmoor, Suite 1000

 Mission, KS 66202 
  

					
	Principal Amount of Notes to be Purchased:	 		  	$7,000,000

 Payments: 

All payments on account of the Note shall be made by crediting in the form of bank wire transfer of Federal or other immediately available funds
(identifying each payment as Southwest Gas Corp. 6.10% Senior Notes due 2041 Private Placement Number 844895 C#7 ̧ principal, interest, make-whole amount, or otherwise, and confirming principal balance): 

 

			
	Bank:	  	
	ABA Routing #:	  	
	Account No.:	  	
	Account Name:	  	
	Ref:	  	Southwest Gas Corp. 6.10% Senior Notes due 2041

 For all
payments other than scheduled payments of principal and interest, the Company shall seek instructions from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

 Notices: 
 1. Send
All Communications and Notices to: 
 UNION FIDELITY LIFE INSURANCE COMPANY 

c/o MetLife Investment Advisors Company LLC 
 P.O. Box 1902 
 10 Park Avenue 

Morristown, New Jersey 07962-1902 
 Attention: Director 
 Facsimile (973) 355-4250 

in each case with a copy OTHER than with respect to deliveries of financial statements to: 

UNION FIDELITY LIFE INSURANCE COMPANY 
 c/o MetLife Investment Advisors Company LLC 
 P.O. Box 1902 

10 Park Avenue 

Morristown, New Jersey 07962-1902 
 Attention: Chief Counsel-Securities Investments (PRIV) 
 Email:
sec_invest_law@metlife.com 

  
 -Schedule A-3-

 INFORMATION RELATING TO PURCHASERS 

Name and Address of Purchaser: 

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) 
 c/o John Hancock Financial Services 
 197 Clarendon Street 

Boston, MA 02116 
  

					
	Principal Amount of Notes to be Purchased:	 		  	$40,000,000

 Payments: 

All payments on account of the Note shall be made by crediting in the form of bank wire transfer of Federal or other immediately available funds
(identifying each payment as Southwest Gas Corporation 6.10% Senior Notes due 2041, Private Placement Number 844895 C#7 ̧ principal, interest, make-whole amount, or otherwise, and confirming principal balance): 

 

			
	Bank:	  	
	ABA Routing #:	  	
	Account No.:	  	
	Account Name:	  	
	For Further Credit to:	  	
	Ref:	  	Southwest Gas Corporation 6.10% Senior Notes due 2041

 For
all payments other than scheduled payments of principal and interest, the Company shall seek instructions from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

 Notices: 
  

	1.	Send all notices with respect to payments, prepayments (scheduled and unscheduled, whether partial or in full) and maturity to: 

 

					
	 JOHN HANCOCK FINANCIAL SERVICES
 197 Clarendon Street
 Boston, MA 02116
 Attention: US Securities Operations, C-4
 Facsimile No.: (617) 572-0628
	  	and	  	 JOHN HANCOCK FINANCIAL SERVICES
 197 Clarendon Street
 Boston, MA 02116
 Attention: Investment Administration, C-2
 Facsimile No.: (617)
572-5495

  

	2.	Send all notices and communication with respect to compliance reporting, financial statements and related certifications to: 

JOHN HANCOCK FINANCIAL SERVICES 
 197
Clarendon Street 
 Boston, MA 02116 

Attention: Bond and Corporate Finance, C-2 

Facsimile No.: (617) 572-5068 
  

	3.	Send all other notices and communication to: 

  

					
	 JOHN HANCOCK FINANCIAL SERVICES
 197 Clarendon Street
 Boston, MA 02116
 Attention: Investment Law, C-3
 Facsimile No.: (617) 572-9269
	  	and	  	 JOHN HANCOCK FINANCIAL SERVICES
 197 Clarendon Street
 Boston, MA 02116
 Attention: Bond and Corporate Finance, C-2
 Facsimile No.: (617)
572-5068

  
 -Schedule A-4-

 INFORMATION RELATING TO PURCHASERS 

Name and Address of Purchaser: 

JOHN HANCOCK LIFE & HEALTH INSURANCE COMPANY 
 c/o John Hancock Financial Services 
 197 Clarendon Street 

Boston, MA 02116 
  

					
	Principal Amount of Notes to be Purchased:	 		  	$10,000,000

 Payments: 

All payments on account of the Note shall be made by crediting in the form of bank wire transfer of Federal or other immediately available funds
(identifying each payment as Southwest Gas Corporation 6.10% Senior Notes due 2041, Private Placement Number 844895 C#7 ̧ principal, interest, make-whole amount, or otherwise, and confirming principal balance): 

 

			
	Bank:	  	
	ABA Routing #:	  	
	Account No.:	  	
	Account Name:	  	
	For Further Credit to:	  	
	Ref:	  	Southwest Gas Corporation 6.10% Senior Notes due 2041

 For
all payments other than scheduled payments of principal and interest, the Company shall seek instructions from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

 Notices: 
  

	1.	Send all notices with respect to payments, prepayments (scheduled and unscheduled, whether partial or in full) and maturity to: 

 

					
	 JOHN HANCOCK FINANCIAL SERVICES
 197 Clarendon Street
 Boston, MA 02116
 Attention: US Securities Operations, C-4
 Facsimile No.: (617) 572-0628
	  	and	  	 JOHN HANCOCK FINANCIAL SERVICES
 197 Clarendon Street
 Boston, MA 02116
 Attention: Investment Administration, C-2
 Facsimile No.: (617)
572-5495

  

	2.	Send all notices and communication with respect to compliance reporting, financial statements and related certifications to: 

JOHN HANCOCK FINANCIAL SERVICES 
 197
Clarendon Street 
 Boston, MA 02116 

Attention: Bond and Corporate Finance, C-2 

Facsimile No.: (617) 572-5068 
  

	3.	Send all other notices and communication to: 

  

					
	 JOHN HANCOCK FINANCIAL SERVICES
 197 Clarendon Street
 Boston, MA 02116
 Attention: Investment Law, C-3
 Facsimile No.: (617) 572-9269
	  	and	  	 JOHN HANCOCK FINANCIAL SERVICES
 197 Clarendon Street
 Boston, MA 02116
 Attention: Bond and Corporate Finance, C-2
 Facsimile No.: (617)
572-5068

  
 -Schedule A-5-

 SCHEDULE B 

DEFINED TERMS 
 As used herein, the following terms have the respective meanings set forth below or set forth in the Section hereof following such term: 

“Acquisition” means any purchase or other acquisition of (a) any assets of any other Person that, taken together,
constitute a business unit, (b) any capital stock of or equity interests in any other Person if, immediately thereafter, such other Person would be a Subsidiary of the Company or a Subsidiary of a Subsidiary of the Company, or (c) any
assets of any other Person otherwise not in the ordinary course of business in each case where the Acquisition Consideration exceeds three percent (3%) of the consolidated assets of the Company and its Subsidiaries based on the most recent
financial statements delivered pursuant to Section 7.1(b) (or, prior to the first date audited financial statements are required to be delivered pursuant to Section 7.1(b), the audited financial statements listed on Schedule 5.5) and
determined in accordance with GAAP. 
 “Acquisition Consideration” means, with respect to any Acquisition, the
sum of (a) the cash consideration paid or agreed to be paid, plus (b) the fair market value of all non-cash consideration paid or agreed to be paid plus (c) an amount equal to the principal or stated amount of all liabilities assumed
or incurred (without duplication of amounts included pursuant to clause (a) above). 
 “Affiliate” means,
at any time, and with respect to any Person, any other Person that at such time directly or indirectly through one or more intermediaries Controls, or is Controlled by, or is under common Control with, such first Person, and, with respect to the
Company, shall include any Person beneficially owning or holding, directly or indirectly, 10% or more of any class of voting or equity interests of the Company or any Subsidiary or any corporation of which the Company and its Subsidiaries
beneficially own or hold, in the aggregate, directly or indirectly, 10% or more of any class of voting or equity interests. As used in this definition, “Control” means the possession, directly or indirectly, of the power to direct
or cause the direction of the management and policies of a Person, whether through the ownership of voting Securities, by contract or otherwise. Unless the context otherwise clearly requires, any reference to an “Affiliate” is a reference
to an Affiliate of the Company. 
 “Anti-Terrorism Order” means Executive Order No. 13,224 of
September 24, 2001, Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit or Support Terrorism, 66 U.S. Fed. Reg. 49, 079 (2001), as amended. 

“Business Day” means (a) for the purposes of Section 8.6 only, any day other than a Saturday, a Sunday or a
day on which commercial banks in New York City are required or authorized to be closed, and (b) for the purposes of any other provision of this Agreement, any day other than a Saturday, a Sunday or a day on which commercial banks in New York,
New York or Las Vegas, Nevada are required or authorized to be closed. 

  
 -Schedule B-1-

 “Capital Lease” means, at any time, a lease with respect to which the
lessee is required concurrently to recognize the acquisition of an asset and the incurrence of a liability in accordance with GAAP. 
 “Capital Lease Obligations” means, as to the Company and its Subsidiaries, the obligations of the Company or any of its Subsidiaries to pay rent or other amounts under a Capital Lease
and, for purposes of this Agreement, the amount of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP. 
 “Change in Control” means the occurrence of either of the following conditions: (a) any Person or group of associated Persons acting in concert shall have acquired an aggregate of
more than 51% of the outstanding shares of voting stock of the Company, or (b) individuals who constitute the board of directors of the Company on the date hereof (the “Incumbent Board”) cease for any reason to constitute at
least a majority thereof, provided that any Person becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of a majority of the directors
comprising the Incumbent Board (either by a specific vote or by approval of the proxy statement of the Company in which such Person is named as a nominee for director, without objection to such nomination) shall be, for purposes of this clause (b),
considered as though such Person were a member of the Incumbent Board. 
 “Closing” is defined in
Section 3. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules
and regulations promulgated thereunder from time to time. 
 “Company” means Southwest Gas Corporation, a
California corporation or any successor that becomes such in the manner prescribed in Section 10.2. 

“Confidential Information” is defined in Section 20. 

“Contingent Obligation” means, for the Company and its Subsidiaries, any direct or indirect Contractual Obligation with
respect to any Indebtedness, lease, dividend, letter of credit or other obligation (the “primary obligations”) of another Person (the “primary obligor”), including, without limitation, any obligation of the Company
or any Subsidiary, whether or not contingent, (a) to purchase, repurchase or otherwise acquire such primary obligations or any property constituting direct or indirect security therefor, or (b) to advance or provide funds (i) for the
payment or discharge of any such primary obligation, or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency or any balance sheet item, level of income or financial
condition of the primary obligor prior to such obligation being a stated or determinable amount, or (c) to purchase property, Securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability
of the primary obligor to make payment of such primary obligation, or (d) otherwise to assure or hold harmless the holder of any such primary obligation against loss in respect thereof. The amount of any Contingent Obligation shall be deemed to
be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or if indeterminable, the maximum reasonably anticipated liability in respect thereof.

  
 -Schedule B-2-

 “Contractual Obligation” means, as to any Person, any provision of any
Security issued by such Person or of any agreement, undertaking, contract, indenture, mortgage, deed of trust or other instrument, document or agreement to which such Person is a party or by which it or any of its property is bound.

 “Control Event” means 

(a) the execution by the Company or any of its Subsidiaries or Affiliates of any binding agreement with respect to any
proposed transaction or event or series of transactions or events that, individually or in the aggregate, may reasonably be expected to result in a Change in Control, 

(b) the execution of any written agreement that, when fully performed by the parties thereto, would result in a Change in
Control, or 
 (c) the making of any written offer by any Person (as such term is used in section 13(d) and
section 14(d)(2) of the Exchange Act as in effect on the date of this Agreement) or related Persons constituting a group (as such term is used in Rule 13d-5 under the Exchange Act as in effect on the date of this Agreement) to the holders of the
common stock of the Company, which offer, if accepted by the requisite number of holders, would result in a Change in Control. 

“Default” means an event or condition the occurrence or existence of which would, with the lapse of time or the giving
of notice or both, become an Event of Default. 
 “Default Rate” means (a) during the continuance of an
Event of Default described in Section 11(c), (e), (f), (g), (h), (i), (j), or (k) (and for so long as no other Event of Default described in Section 11 is continuing and no Notes have become due and payable pursuant to
Section 12.1), the rate of interest per annum equal to 8.10% and (b) at any other time, the rate of interest per annum from time to time equal to the greater of (i) 8.10% and (ii) 2.00% over the rate of interest publicly
announced by Bank of New York Mellon from time to time in New York, New York as its “base” or “prime” rate. 

“Disclosure Documents” is defined in Section 5.3. 

“Electronic Delivery” is defined in Section 7.1(a). 

“Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances,
rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials into the environment,
including but not limited to those related to Hazardous Materials. 

  
 -Schedule B-3-

 “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect. 
 “ERISA
Affiliate” means any trade or business (whether or not incorporated) that is treated as a single employer together with the Company under section 414 of the Code. 
 “Event of Default” is defined in Section 11. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations
promulgated thereunder from time to time in effect. 
 “Form 10-K” is defined in Section 7.1(b).

 “Form 10-Q” is defined in Section 7.1(a). 

“Funded Debt” means, for the Company and its Subsidiaries, (a) all obligations for borrowed money, (b) all
obligations representing the deferred purchase price of property or services which in accordance with GAAP would be shown on a balance sheet of such Person as a liability due more than 12 months from the date of the occurrence or evidenced by a note
or similar instrument, (c) all Capital Lease Obligations, (d) all Contingent Obligations, and (e) Preferred Securities to the extent that the aggregate stated liquidation amount thereof exceeds 7.5% of Total Capitalization.

 “GAAP” means generally accepted accounting principles as in effect from time to time in the United States of
America. 
 “Governmental Authority” means 

(a) the government of 
 (i) the United States of America or any State or other political subdivision thereof, or 
 (ii) any other jurisdiction in which the Company or any Subsidiary conducts all or any part of its business, or which asserts jurisdiction over any properties of the Company or any Subsidiary, or

 (b) any entity exercising executive, legislative, judicial, regulatory or administrative functions of, or
pertaining to, any such government. 
 “Guaranty” means, with respect to any Person, any obligation (except the
endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether
directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person: 
 (a) to purchase such indebtedness or obligation or any property constituting security therefor; 

  
 -Schedule B-4-

 (b) to advance or supply funds (i) for the purchase or payment of such
indebtedness or obligation, or (ii) to maintain any working capital or other balance sheet condition or any income statement condition of any other Person or otherwise to advance or make available funds for the purchase or payment of such
indebtedness or obligation; 
 (c) to lease properties or to purchase properties or services primarily for the
purpose of assuring the owner of such indebtedness or obligation of the ability of any other Person to make payment of the indebtedness or obligation; or 
 (d) otherwise to assure the owner of such indebtedness or obligation against loss in respect thereof. 
 In any computation of the indebtedness or other liabilities of the obligor under any Guaranty, the indebtedness or other obligations that are the subject of such Guaranty shall be assumed to be direct
obligations of such obligor. 
 “Hazardous Materials” means any and all pollutants, toxic or hazardous wastes
or other substances that might pose a hazard to health and safety, the removal of which may be required or the generation, manufacture, refining, production, processing, treatment, storage, handling, transportation, transfer, use, disposal, release,
discharge, spillage, seepage or filtration of which is or shall be restricted, prohibited or penalized by any applicable law including, but not limited to, asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls, petroleum, petroleum
products, lead based paint, radon gas or similar restricted, prohibited or penalized substances. 
 “holder”
means, with respect to any Note the Person in whose name such Note is registered in the register maintained by the Company pursuant to Section 13.1. 
 “Incumbent Board” is defined in the definition of “Change of Control.” 
 “Indebtedness” with respect to any Person means, at any time, without duplication, 
 (a) its obligations for borrowed money, including interest or fees of any nature related to the borrowing of money accrued but unpaid; 

(b) its obligations under letters of credit, bills of exchange or bankers acceptances; 

(c) all obligations representing the deferred purchase price of Property or services which in accordance with GAAP would
be shown on the balance sheet as a liability; 
 (d) all obligations, whether or not assumed by or with recourse
to such Person, secured by Liens upon, or payable out of the proceeds or production from, assets owned by such Person; 

  
 -Schedule B-5-

 (e) all Capital Lease Obligations; and 

(f) all Contingent Obligations. 
 “Institutional Investor” means (a) any Purchaser of a Note, (b) any holder of a Note holding (together with one or more of its Affiliates) more than 5% of the aggregate
principal amount of the Notes then outstanding, (c) any bank, trust company, savings and loan association or other financial institution, any pension plan, any investment company, any insurance company, any broker or dealer, or any other
similar financial institution or entity, regardless of legal form, and (d) any Related Fund of any holder of any Note. 

“Investments” means any direct or indirect purchase or acquisition of any obligations or other Securities of, or any
interest in, any Person (other than purchases or acquisitions constituting an Acquisition), or any advance (other than payroll, travel and similar advances to cover matters that are expected at the time of such advance ultimately to be treated as an
expense for accounting purposes and that are made in the ordinary course of business), loan, extension of credit or capital contribution to, or any other investment in, any Person including, without limitation, any Affiliates of such Person.

 “Lien” means, with respect to any Person, any mortgage, lien, pledge, charge, security interest or other
encumbrance, or any interest or title of any vendor, lessor, lender or other secured party to or of such Person under any conditional sale or other title retention agreement or Capital Lease, upon or with respect to any property or asset of such
Person (including in the case of stock, stockholder agreements, voting trust agreements and all similar arrangements). 

“Make-Whole Amount” is defined in Section 8.6. 

“Material” means material in relation to the business, operations, affairs, financial condition, assets, properties, or
prospects of the Company and its Subsidiaries taken as a whole. 
 “Material Adverse Effect” means a material
adverse effect on (a) the business, operations, affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a whole, or (b) the ability of the Company to perform its obligations under this Agreement and
the Notes, or (c) the validity or enforceability of this Agreement or the Notes. 
 “Moody’s” means
Moody’s Investors Service, Inc. and any successor thereto that is a nationally recognized rating agency. 

“Multiemployer Plan” means any Plan that is a “multiemployer plan” (as such term is defined in section
4001(a)(3) of ERISA). 
 “NAIC” means the National Association of Insurance Commissioners or any successor
thereto. 
 “Net Worth” means the amount of the Company’s (a) common shareholders’ equity
determined in accordance with GAAP, plus (b) preferred and preference stock, plus (c) the aggregate stated liquidation amount of Preferred Securities, but not in excess of 7.5% of Total Capitalization, determined on a consolidated basis in
accordance with GAAP. 

  
 -Schedule B-6-

 “Notes” is defined in Section 1. 

“Officer’s Certificate” means a certificate of a Senior Financial Officer or of any other officer of the Company
whose responsibilities extend to the subject matter of such certificate. 
 “PBGC” means the Pension Benefit
Guaranty Corporation referred to and defined in ERISA or any successor thereto. 
 “Permitted Investments”
means Investments made by the Company and its Subsidiaries in the ordinary course of business as presently conducted or transactions permitted by Section 10.2, provided that the Company may only make cash Investments in (a) U.S.
government and agency Securities; (b) money market funds rated AA or A-1 or better by S&P and Aaa or P-1 or better by Moody’s; (c) municipal Securities rated within the top two ratings by S&P and Moody’s;
(d) repurchase agreements with reputable financial institutions fully secured by collateral consisting of Securities described in clauses (a) and (b) above having a market value at least equal to 102% of the amount so invested;
(e) bankers’ acceptances issued by a bank rated Aaa or better by Moody’s or rated AA or better by S&P and eligible for purchase by a Federal Reserve Bank; (f) interest-bearing demand or time deposits (including certificates
of deposit) in banks and savings and loan associations, provided such deposits are (i) secured at all times, in the manner and to the extent provided by law, by collateral consisting of Securities described in clauses (a) and
(b) above having a market value of no less than 102% of the amount of moneys so invested or (ii) fully insured by federal deposit insurance; (g) shares of any “regulated investment company” within the meaning of section
851(a) of the Code, the assets of which consist only of Securities or investments described in clauses (a) through (f) above; (h) commercial paper (including both non-interest-bearing discount obligations and interest-bearing
obligations payable on demand or on a specified date not more than one year after the date of issuance thereof) which have been rated at least A-1 by S&P and at least P-1 by Moody’s at the time of such investment; (i) other obligations
of corporations which have been rated at least AA by S&P and at least Aaa by Moody’s at the time of such investment; (j) open ended mutual funds, as regulated by Rule 2a-7 under the Investment Company Act of 1940 and whose net asset
value remains a constant $1 a share; (k) investments directed by the Company in conjunction with industrial development revenue bonds, and (1) Subsidiaries, Affiliates and transactions permitted by Section 10.2. 

“Permitted Liens” means any of the following: 

(a) Liens on any property acquired, constructed, or improved by the Company or its Subsidiaries after the date of this
Agreement that are created or assumed contemporaneously with, or within 120 days after, such acquisition or completion of the construction or improvement, or within six months thereafter pursuant to a firm commitment for financing arranged with a
lender or investor within such 120-day period, to secure or provide for the payment of all or any part of the purchase price of such property or the cost of such construction or improvement incurred after the date of this Agreement or, in addition
to Liens contemplated by clauses (b) and (c) below, Liens on any property existing at the time of acquisition thereof, provided that the Liens shall not apply to any property theretofore owned by the Company or its Subsidiaries
other than, in the case of any such construction or improvement, any theretofore unimproved property on which the property so constructed or the improvement is located; 

  
 -Schedule B-7-

 (b) Existing Liens on any property or indebtedness of a corporation that is
merged with or into or consolidated with the Company or its Subsidiaries or becomes a Subsidiary; provided that the Liens shall not apply to any property theretofore owned by the Company or its Subsidiaries; 

(c) Liens in favor of the United States of America, any state or any foreign country or any department, agency or
instrumentality or political subdivision of any such jurisdiction to secure partial, progress, advance or other payment pursuant to any contract or statute or to secure any indebtedness incurred for the purpose of financing all or any part of the
purchase price or cost of constructing or improving the property subject to such Liens, including, without limitation, Liens to secure debt of the pollution control or industrial revenue bond type; 

(d) Liens on current assets of the Company or its Subsidiaries to secure loans to the Company or its Subsidiaries which
mature within 12 months from the creation thereof and which are made in the ordinary course of business; 
 (e)
Liens on any property (including any natural gas, oil or other mineral property of the Company or its Subsidiaries) to secure all or part of the cost of exploration or drilling for or development of oil or gas reserves or laying a pipeline or to
secure debt incurred to provide funds for any such purpose; 
 (f) Any Lien existing on property of the Company
or its Subsidiaries on the date of this Agreement to the extent set forth in Schedule 5.15; 
 (g) Liens
on moneys or U.S. Government obligations deposited to defease Indebtedness; 
 (h) Liens for the sole purpose of
extending, renewing or replacing, in whole or in part, Liens securing debt of the type referred to in the foregoing clauses (a) through (g), inclusive, or this clause (h); provided, however, that the principal amount of debt so secured
at the time of such extension, renewal or replacement shall not be increased, and that such extension or replacement shall be limited to all or part of the property or indebtedness which secured the Lien so extended, renewed or replaced (plus
improvements on such property); 
 (i) Carriers, warehousemen’s, mechanics’, landlords’,
materialmen’s, repairmen’s or other similar Liens arising in the ordinary course of business which are not delinquent or remain payable without penalty and which are being contested in good faith and by appropriate proceedings; 

(j) Liens (other than any Lien imposed by ERISA) on property of the Company or any of its Subsidiaries incurred, or
pledges or deposits required, in connection with workers compensation, unemployment insurance and other social security legislation; 

  
 -Schedule B-8-

 (k) Liens on property of the Company or any of its Subsidiaries securing
(i) the performance of bids, trade contracts (other than for borrowed money), leases, statutory obligations, and (ii) obligations on surety and appeal bonds, and (iii) other obligations of a like nature incurred in the ordinary course
of business; 
 (l) Licenses, easements, rights-of-way, restrictions and other similar encumbrances incurred in
the ordinary course of business which, in the aggregate, are not substantial in amount, and which do not in any case materially detract from the value of the property subject thereto or interfere with the ordinary conduct of the businesses of the
Company and its Subsidiaries; 
 (m) Liens on the property of a Subsidiary (i) other than a Significant
Subsidiary which could not reasonably be expected to have a Material Adverse Effect and (ii) other than Liens on the property of Northern Pipeline Construction, Co.; 

(n) Intellectual property licenses; 

(o) Any attachment or judgment Lien not constituting an Event of Default under Section 11(j); 

(p) Leases or subleases granted to others not interfering in any material respect with the ordinary conduct of the
business of the Company and UCC financing statements relating solely thereto; and 
 (q) Any other Liens securing
Indebtedness, provided that the aggregate amount of Indebtedness so secured pursuant to this paragraph (q) shall not exceed 10% of Total Capitalization as of the end of any quarter of any fiscal year, and provided further, that
the Company will not and will not permit any Subsidiary to create or permit to exist pursuant to this paragraph (q) any Lien on any property securing Indebtedness outstanding or issued under any Primary Bank Facility unless and until the Notes
shall be secured equally and ratably with such Indebtedness pursuant to an agreement or agreements reasonably acceptable in writing to the Required Holders. 
 “Person” means an individual, partnership, corporation, limited liability company, association, trust, unincorporated organization, business entity or Governmental Authority. 

“Plan” means an “employee benefit plan” (as defined in section 3(3) of ERISA) subject to Title I of ERISA that
is or, within the preceding five years, has been established or maintained, or to which contributions are or, within the preceding five years, have been made or required to be made, by the Company or any ERISA Affiliate or with respect to which the
Company or any ERISA Affiliate may have any liability. 
 “Preferred Securities” means any preferred Securities
issued by a financing entity (i.e., partnership, trust, limited liability company, etc.) used exclusively to raise capital for the Company having the following structural characteristics: (a) the financing entity is capitalized by a nominal
equity investment from the Company and the remainder through preferred Securities issued by the financing entity, (b) the financing entity lends the proceeds from the issuance of preferred Securities to the Company in exchange for subordinated
debt Securities (which debt 

  
 -Schedule B-9-

 
Securities are subordinated in all respects to the Funded Debt of the Company, except for Funded Debt which by its terms is expressly subordinated to or pari passu with such debt Securities),
(c) the Company makes periodic interest payments (associated with the subordinated debt Securities) to the financing entity which, in turn, are used to make corresponding payments to holders of the preferred Securities of the financing entity,
(d) the subordinated debt Securities issued by the Company and corresponding preferred Securities issued by the financing entity have a maturity of at least thirty years, (e) interest payments on the subordinated debt Securities may be
deferred at the Company’s discretion for one or more consecutive periods of up to five years, which would result in a corresponding deferral of payments to holders of the preferred Securities, plus accrual of interest thereon, and (f) the
subordinated debt Securities and corresponding preferred Securities may not be redeemed for a period of five years from the date of issuance other than as a result of a tax or other special event. 

“Preferred Stock” means any class of capital stock of a Person that is preferred over any other class of capital stock
(or similar equity interests) of such Person as to the payment of dividends or the payment of any amount upon liquidation or dissolution of such Person. 
 “Primary Bank Facility” means any agreement, guaranty, or other instrument entered into by the Company or any Subsidiary in connection with the provision of recourse credit in the form of
a revolving loan, term loan, letter of credit, or other extensions of credit. 
 “primary obligations”
is defined in the definition of “Contingent Obligation”. 
 “primary obligor” is defined in the
definition of “Contingent Obligation”. 
 “Priority Debt” means, all Indebtedness of the Company
secured by any Lien with respect to any property owned by the Company or any of its Subsidiaries. 
 “property”
or “properties” means, unless otherwise specifically limited, real or personal property of any kind, tangible or intangible, choate or inchoate. 
 “Proposed Prepayment Date” is defined in Section 8.7(c). 

“PTE” is defined in Section 6.2(a). 
 “Purchaser” is defined in the first paragraph of this Agreement. 

“Qualified Institutional Buyer” means any Person who is a “qualified institutional buyer” within the meaning
of such term as set forth in Rule 144A(a)(1) under the Securities Act. 
 “Related Fund” means, with respect to
any holder of any Note, any fund or entity that (i) invests in Securities or bank loans, and (ii) is advised or managed by such holder, the same investment advisor as such holder or by an Affiliate of such holder or such investment
advisor. 
 “Required Holders” means, at any time, the holders of at least
66 2/3% in principal amount of the Notes at the time
outstanding (exclusive of Notes then owned by the Company or any of its Affiliates). For purposes of this definition, each Purchaser with an unfunded commitment to purchase Notes hereunder shall be deemed to be the holder of such Notes and such
Notes shall be deemed to be outstanding. 

  
 -Schedule
B-10- 

 “Responsible Officer” means any Senior Financial Officer and any other
officer of the Company with responsibility for the administration of the relevant portion of this Agreement. 

“S&P” means Standard & Poor’s Ratings Group and any successor thereto that is a nationally recognized
rating agency. 
 “SEC” shall mean the Securities and Exchange Commission of the United States, or any
successor thereto. 
 “Securities” or “Security” shall have the meaning specified in section
2(1) of the Securities Act. 
 “Securities Act” means the Securities Act of 1933, as amended from time to time,
and the rules and regulations promulgated thereunder from time to time in effect. 
 “Senior Financial Officer”
means the chief financial officer, principal accounting officer, treasurer or controller of the Company. 
 “Significant
Subsidiary” means any Subsidiary of the Company having 10% or more of the total assets of the Company and its Subsidiaries on a consolidated basis as of the end of any fiscal quarter or generating 10% or more of the income of the Company
and its Subsidiaries on a consolidated basis during the most recently completed four fiscal quarters for which financial statements have been delivered pursuant to Section 7.1. 

“Subsidiary” means, as to any Person, any other Person in which such first Person or one or more of its Subsidiaries or
such first Person and one or more of its Subsidiaries owns sufficient equity or voting interests to enable it or them (as a group) ordinarily, in the absence of contingencies, to elect a majority of the directors (or Persons performing similar
functions) of such second Person, and any partnership or joint venture if more than a 50% interest in the profits or capital thereof is owned by such first Person or one or more of its Subsidiaries or such first Person and one or more of its
Subsidiaries (unless such partnership or joint venture can and does ordinarily take major business actions without the prior approval of such Person or one or more of its Subsidiaries). Unless the context otherwise clearly requires, any reference to
a “Subsidiary” is a reference to a Subsidiary of the Company. 
 “SVO” means the Securities Valuation
Office of the NAIC or any successor to such Office. 
 “Total Capitalization” means Funded Debt plus Net Worth.

 “USA Patriot Act” means United States Public Law 107-56, Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect. 

  
 -Schedule
B-11- 

 “Wholly-Owned Subsidiary” means, at any time, any Subsidiary one hundred
percent of all of the equity interests (except directors’ qualifying shares) and voting interests of which are owned by any one or more of the Company and the Company’s other Wholly-Owned Subsidiaries at such time. 

  
 -Schedule
B-12- 

 SCHEDULE 5.3 

DISCLOSURE MATERIALS 
 PDF attachment to 06/21/2010 02:38 PM e-mail from Kenneth J. Kenny (Vice President/Treasurer, Southwest Gas Corporation) to Mansi V. Patel (MetLife Investments), containing Southwest Gas
Corporation’s responses to Metlife Due Diligence Questions. 

  
 -Schedule
5.3-1- 

 SCHEDULE 5.4 

SUBSIDIARIES OF THE COMPANY AND OWNERSHIP OF SUBSIDIARY STOCK 
 (i) SUBSIDIARIES 
  

					
	 Name of Subsidiary
	  	 Jurisdiction
of
Organization
	  	 Equity Ownership

(100% unless otherwise indicated)

			
	 Paiute Pipeline Company
	  	Nevada	  	Southwest Gas Corporation – Common Stock
			
	 NPL Construction Co.
	  	Nevada	  	Southwest Gas Corporation – Common Stock
			
	 *Total Energy Construction Co.
	  	Nevada	  	NPL Construction Co. – Common Stock
			
	 Southwest Administrators, Inc.
	  	Nevada	  	NPL Construction Co. – Common Stock
			
	 *Specialty Services, Inc.
	  	Nevada	  	NPL Construction Co. – Common Stock
			
	 IntelliChoice Energy LLC
	  	Delaware	  	NPL Construction Co. – Membership Interest
			
	 IntelliChoice Energy of California LLC
	  	Delaware	  	IntelliChoice Energy LLC – Membership Interest
			
	 Southwest Gas Transmission Company
	  	Arizona	  	Limited Partnership between Southwest Gas Corporation (99% - Limited Partner) and Utility Financial Corp. (1% - General Partner)
			
	 Southwest Gas Capital II
	  	Delaware	  	Southwest Gas Corporation (Sponsor) – No outstanding Trust Securities
			
	 Southwest Gas Capital III
	  	Delaware	  	Southwest Gas Corporation (Depositor) – No outstanding Trust Securities
			
	 Southwest Gas Capital IV
	  	Delaware	  	Southwest Gas Corporation (Depositor) – No outstanding Trust Securities
			
	 Utility Financial Corp.
	  	Nevada	  	Southwest Gas Corporation – Common Stock
			
	 The Southwest Companies
	  	Nevada	  	Southwest Gas Corporation – Common Stock
			
	 *First Nevada, Ltd.
	  	Nevada	  	The Southwest Companies – Common Stock
			
	 *Nevada Laurel Corporation
	  	Nevada	  	First Nevada, Ltd. – Common Stock

  
 -Schedule
5.4-1- 

					
	 *LNG Energy, Inc.
	  	Nevada	  	Southwest Gas Corporation – Common Stock
			
	 *Sundance Energy, Inc.
	  	Nevada	  	LNG Energy, Inc. – Common Stock
			
	 Unitary Gas Heating and Cooling Products/Ambian Climate Technologies, LLC
	  	Delaware	  	Southwest Gas Corporation – Membership Interest
			
	 *Black Mountain Gas Company
	  	Minnesota	  	Southwest Gas Corporation – Common Stock
			
	 Carson Water Company
	  	Nevada	  	Southwest Gas Corporation – Common Stock
			
	 *Pataya Storage Company
	  	Nevada	  	Southwest Gas Corporation – Common Stock

  

	*	These entities are inactive and were approved to dissolve at the Board of Directors’ meeting on November 16, 2010. 

(ii) AFFILIATES (other than Subsidiaries) 

None 
 (iii) BOARD OF DIRECTORS OF SOUTHWEST
GAS CORPORATION (as of July 27, 2010) 
 James J. Kropid (Chairman) 
 Robert L. Boughner 
 Thomas E. Chestnut 
 Stephen C. Comer 
 Richard M. Gardner 
 LeRoy C. Hanneman, Jr. 
 Michael O. Maffie 
 Anne L. Mariucci 
 Michael J. Melarkey 
 Jeffrey W. Shaw 
 A. Randall Thoman 
 Thomas A. Thomas 
 Terrence L. Wright 
 (iv) OFFICERS OF SOUTHWEST GAS CORPORATION (as of August 11, 2010) 
  

			
	Chairman of the Board	  	James J. Kropid
	Chief Executive Officer	  	Jeffrey W. Shaw
	President	  	James P. Kane
	Executive Vice President	  	George C. Biehl
	Senior Vice President/Chief Financial Officer	  	Roy R. Centrella
	Senior Vice President/Regulatory Affairs and Energy Resources	  	John P. Hester
	Senior Vice President/Corporate Development	  	Edward A. Janov

  
 -Schedule
5.4-2- 

			
	 Senior Vice President/Engineering and Business Operations and Technology Support
	  	James F. Wunderlin
	 Vice President/Southern Arizona Division
	  	Garold L. Clark
	 Vice President/Special Projects
	  	Eric DeBonis
	 Vice President/Southern California Division
	  	Luis F. Frisby
	 Vice President/General Counsel, Compliance Officer, and Corporate Secretary
	  	Karen S. Haller
	 Vice President/Administration
	  	Laura Lopez Hobbs
	 Vice President/Finance/Treasurer
	  	Kenneth J. Kenny
	 Vice President/Gas Resources
	  	William N. Moody
	 Vice President/Controller/Chief Accounting Officer
	  	Gregory J. Peterson
	 Vice President/Central Arizona Division
	  	Dennis Redmond
	 Vice President/Southern Nevada Division
	  	Anita M. Romero
	 Vice President/Pricing
	  	Donald L. Soderberg
	 Vice President/Information Services
	  	Robert J. Weaver
	 Vice President/Northern Nevada Division
	  	Julie M. Williams
	 Assistant to the CEO and Assistant Corporate Secretary
	  	Suzanne J. Farinas
	 Assistant Corporate Secretary
	  	Cheryl A. Wurst

 (v) SUBSIDIARIES OF THE COMPANY SUBJECT
TO LEGAL, REGULATORY, CONTRACTUAL OR OTHER RESTRICTIONS ON PAYMENT OF DIVIDENDS OR DISTRIBUTIONS 
 NPL Construction Co. (“NPL”)
– NPL is not subject to any direct restrictions on its ability to pay dividends out of profits or make any other similar distributions of profits to the Company; however, certain financial covenants contained in the Credit Agreement dated as of
June 1, 2009 by and between NPL and Wells Fargo Bank, National Association could have the effect of limiting NPL’s ability to pay dividends out of profits or make any other similar distributions of profits to the Company. 

  
 -Schedule
5.4-3- 

 SCHEDULE 5.5 

FINANCIAL STATEMENTS 
 Audited financial statements for the year ended December 31, 2009 
 Unaudited financial
statements for the quarterly period ended March 31, 2010 
 Unaudited financial statements for the quarterly period ended June 30,
2010 
 Unaudited financial statements for the quarterly period ended September 30, 2010 

  
 -Schedule
5.5-1- 

 SCHEDULE 5.15 

EXISTING INDEBTEDNESS 
 As of September 30, 2010 
 (Thousands of dollars) 

 

													
	 	  	 Obligor
	  	 Obligee
	  	Principal
Outstanding	 	 	Guaranty &
Security	 
					
	 Southwest Gas Corporation
	  		  		  				 			
	 Debentures:
	  		  		  				 			
	 Notes, 8.375%, due 2011
	  	Southwest	  	Cede & Co.	  	$	200,000	  	 	 	None	  
	 Notes, 7.625%, due 2012
	  	Southwest	  	Cede & Co.	  	 	200,000	  	 	 	None	  
	 8% Series, due 2026
	  	Southwest	  	Cede & Co.	  	 	75,000	  	 	 	None	  
	 Medium-term notes, 7.59% series, due 2017
	  	Southwest	  	Cede & Co.	  	 	25,000	  	 	 	None	  
	 Medium-term notes, 7.78% series, due 2022
	  	Southwest	  	Cede & Co.	  	 	25,000	  	 	 	None	  
	 Medium-term notes, 7.92% series, due 2027
	  	Southwest	  	Cede & Co.	  	 	25,000	  	 	 	None	  
	 Medium-term notes, 6.76% series, due 2027
	  	Southwest	  	Cede & Co.	  	 	7,500	  	 	 	None	  
	 Unamortized discount
	  		  		  	 	(1,680	) 	 			
		  		  		  	 	 	 	 			
	 Total Debentures
	  		  		  	$	555,820	  	 			
		  		  		  	 	 	 	 			
					
	 Revolving credit facility, due 2012 [1]
	  	Southwest	  	BNY Mellon	  	 	—  	  	 	 	None	  
	 Commercial paper [2]
	  	Southwest	  	N/A	  	 	—  	  	 	 	None	  
					
	 Industrial Development Revenue Bonds:
	  		  		  				 			
	 Variable-rate bonds:
	  		  		  				 			
	 Tax-exempt Series A, due 2028
	  	Southwest	  	Cede & Co.	  	$	50,000	  	 	 	None	  
	 2003 Series A, due 2038
	  	Southwest	  	Cede & Co.	  	 	50,000	  	 	 	None	  
	 2008 Series A, due 2038
	  	Southwest	  	Cede & Co.	  	 	50,000	  	 	 	None	  
	 2009 Series A, due 2039
	  	Southwest	  	Cede & Co.	  	 	50,000	  	 	 	None	  
	 Fixed-rate bonds:
	  		  		  				 			
	 6.10% 1999 Series A, due 2038
	  	Southwest	  	Cede & Co.	  	 	12,410	  	 	 	None	  
	 5.95% 1999 Series C, due 2038
	  	Southwest	  	Cede & Co.	  	 	14,320	  	 	 	None	  
	 5.55% 1999 Series D, due 2038
	  	Southwest	  	Cede & Co.	  	 	8,270	  	 	 	None	  
	 5.45% 2003 Series C, due 2038, mandatory put 2013
	  	Southwest	  	Cede & Co.	  	 	30,000	  	 	 	None	  
	 5.25% 2003 Series D, due 2038
	  	Southwest	  	Cede & Co.	  	 	20,000	  	 	 	None	  
	 5.80% 2003 Series E, due 2038, mandatory put 2013
	  	Southwest	  	Cede & Co.	  	 	15,000	  	 	 	None	  
	 5.25% 2004 Series A, due 2034
	  	Southwest	  	Cede & Co.	  	 	65,000	  	 	 	None	  
	 5.00% 2004 Series B, due 2033
	  	Southwest	  	Cede & Co.	  	 	31,200	  	 	 	None	  
	 4.85% 2005 Series A, due 2035
	  	Southwest	  	Cede & Co.	  	 	100,000	  	 	 	None	  
	 4.75% 2006 Series A, due 2036
	  	Southwest	  	Cede & Co.	  	 	24,855	  	 	 	None	  
	 Unamortized discount
	  		  		  	 	(3,537	) 	 			
		  		  		  	 	 	 	 			
	 Total Industrial Development Revenue Bonds
	  		  		  	$	517,518	  	 			
		  		  		  	 	 	 	 			
					
	 NPL (wholly-owned subsidiary) Debt:
	  		  		  				 			
	 6.08% Mortgage, due April 2017
	  	NPL	  	Chase Bank	  	$	2,262	  	 	 	Secured 	[4] 
	 8.65% Note, due February 2012
	  	NPL	  	Wells Fargo	  	 	6	  	 	 	Secured 	[5] 
	 Revolving credit facility, due 2012 [3]
	  	NPL	  	Wells Fargo	  	 	—  	  	 	 	None	  
		  		  		  	 	 	 	 			
	 Total NPL Debt
	  		  		  	$	2,268	  	 			
		  		  		  	 	 	 	 			
					
	 Total Long-Term Debt
	  		  		  	$	1,075,606	  	 			
		  		  		  	 	 	 	 			

  
 -Schedule
5.15-1- 

	[1]	$300 million revolving credit facility that expires in May 2012, of which $150 has been designated as long-term debt and $150 million for working capital purposes.
Southwest had no outstanding balance on the credit facility at September 30, 2010. 

	[2]	$50 million uncommitted F-2 commercial paper program, supported by the revolving credit facility. Southwest had no outstanding commercial paper at September 30,
2010. 

	[3]	$25 million revolving credit facility that expires in June 30, 2012. NPL had no outstanding balance on the credit facility at September 30, 2010.

	[4]	Collateral description - NPL corporate headquarters (building and land) located at 2355 West Utopia Road, Phoenix, Arizona 85022. 

	[5]	Collateral description - vehicle, this loan has been paid off subsequent to September 30, 2010. 

  
 -Schedule
5.15-2- 

 EXHIBIT 1 

FORM OF NOTE 
 SOUTHWEST GAS CORPORATION 
 6.10% SENIOR NOTE DUE 2041 

 

			
	No. [            ]	 	[Date]
	$[            ]	 	PPN 844895 C#7

 FOR VALUE RECEIVED, the undersigned, SOUTHWEST GAS CORPORATION (herein called the “Company”), a corporation organized and existing under the laws of the State of California, hereby
promises to pay to [                    ], or registered assigns, the principal sum of
[                                        ]
DOLLARS (or so much thereof as shall not have been prepaid) on February 15, 2041, with interest (computed on the basis of a 360-day year of twelve 30 day months) (a) on the unpaid balance hereof at the rate of 6.10% per annum from the
date hereof, payable semiannually, on the 15th day of
February and August in each year, commencing with the February 15th or August 15th next succeeding the date hereof, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest, on any overdue payment of
any Make Whole Amount, and, during the continuance of an Event of Default, on such unpaid balance, at the Default Rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United
States of America at Bank of New York Mellon in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred to below. 

This Note is one of a series of Senior Notes (herein called the “Notes”) issued pursuant to the Note Purchase Agreement,
dated as of November 18, 2010 (as from time to time amended, the “Note Purchase Agreement”), between the Company and the respective Purchasers named therein and is entitled to the benefits thereof. Each holder of this Note will
be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (ii) made the representation set forth in Section 6.2 of the Note Purchase
Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 
 This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer accompanied by a written instrument of transfer duly executed, by
the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer,
the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice to the contrary. 

  
 -Exhibit 1-1-

 This Note is subject to optional prepayment, in whole or from time to time in part, at the
times and on the terms specified in the Note Purchase Agreement, but not otherwise. 
 If an Event of Default occurs and is
continuing, the principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed
by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

[Remainder of page intentionally left blank; signature page follows] 

  
 -Exhibit 1-2-

  

			
	SOUTHWEST GAS CORPORATION
		
	By	 	  

		 	Name:
		 	Title:

  
 -Exhibit
1-S-1- 

 EXHIBIT 4.4(a) 

MATTERS TO BE COVERED IN OPINION OF COUNSEL TO THE COMPANY 

1. The Company being duly incorporated, validly existing and in good standing and having requisite corporate power and authority to issue
and sell the Notes and to execute and deliver the documents. 
 2. The Company being duly qualified and in good standing as a
foreign corporation in appropriate jurisdictions. 
 3. Due authorization and execution of the documents and such documents
being legal, valid, binding and enforceable. 
 4. No conflicts with charter documents, laws or other agreements. 

5. The Notes not requiring registration under the Securities Act of 1933, as amended; no need to qualify an indenture under the Trust
Indenture Act of 1939, as amended. 
 6. No violation of Regulations T, U or X of the Federal Reserve Board. 

7. Company not an “investment company”, or a company “controlled” by an “investment company”, under the
Investment Company Act of 1940, as amended. 

  
 -Exhibit
4.4(a)-1- 

 EXHIBIT 4.4(b) 

MATTERS TO BE COVERED IN OPINION OF 
 ASSOCIATE GENERAL COUNSEL OF THE COMPANY 
 1. All consents and
approvals required to issue and sell the Notes and to execute and deliver the documents having been obtained and are in full force and effect. 
 2. No litigation questioning validity of the documents. 

  
 -Exhibit
4.4(b)-1-

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