Document:

Exhibit 4.1

 

 

CHARLES RIVER LABORATORIES INTERNATIONAL,
INC.

as the Company

and

U.S. BANK NATIONAL ASSOCIATION

as Trustee

___________________________________

Senior Indenture

Dated as of ______ __, 20__

___________________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

table
of contents

________________ 

  

	 	 	Page
	ARTICLE 1
	DEFINITIONS AND INCORPORATION BY REFERENCE
	Section 1.01.	Definitions.	1
	Section 1.02.	Other Definitions	4
	Section 1.03.	Incorporation by Reference of Trust Indenture Act	5
	Section 1.04.	Rules of Construction	5
	ARTICLE 2
	THE SECURITIES
	Section 2.01.	Form and Dating	5
	Section 2.02.	Execution And Authentication	5
	Section 2.03.	Amount Unlimited; Issuable in Series	7
	Section 2.04.	Denomination and Date of Securities; Payments of Interest	8
	Section 2.05.	Registrar and Paying Agent; Agents Generally	9
	Section 2.06.	Paying Agent to Hold Money in Trust	9
	Section 2.07.	Transfer and Exchange	9
	Section 2.08.	Replacement Securities	11
	Section 2.09.	Outstanding Securities	12
	Section 2.10.	Temporary Securities	12
	Section 2.11.	Cancellation	13
	Section 2.12.	CUSIP Numbers	13
	Section 2.13.	Defaulted Interest	13
	Section 2.14.	Series May Include Tranches	13
	ARTICLE 3
	REDEMPTION
	Section 3.01.	Applicability of Article	13
	Section 3.02.	Notice of Redemption; Partial Redemptions	13
	Section 3.03.	Payment Of Securities Called For Redemption	15
	Section 3.04.	Exclusion of Certain Securities from Eligibility for Selection for Redemption	15
	Section 3.05.	Mandatory and Optional Sinking Funds	15
	ARTICLE 4
	COVENANTS
	Section 4.01.	Payment of Securities	17
	Section 4.02.	Maintenance of Office or Agency	17
	Section 4.03.	Securityholders’ Lists	18
	Section 4.04.	Certificate to Trustee	18
	Section 4.05.	Reports by the Company	18
	Section 4.06.	Additional Amounts	18
	ARTICLE 5
	SUCCESSOR CORPORATION
	Section 5.01.	When Company May Merge, Etc.	19
	Section 5.02.	Successor Substituted	19

 

    i 

     

    

 

	ARTICLE 6
	DEFAULT AND REMEDIES
	Section 6.01.	Events of Default	19
	Section 6.02.	Acceleration	20
	Section 6.03.	Other Remedies	20
	Section 6.04.	Waiver of Past Defaults	21
	Section 6.05.	Control by Majority	21
	Section 6.06.	Limitation on Suits	21
	Section 6.07.	Rights of Holders to Receive Payment	21
	Section 6.08.	Collection Suit by Trustee	21
	Section 6.09.	Trustee May File Proofs of Claim	22
	Section 6.10.	Application of Proceeds	22
	Section 6.11.	Restoration of Rights and Remedies	22
	Section 6.12.	Undertaking for Costs	23
	Section 6.13.	Rights and Remedies Cumulative	23
	Section 6.14.	Delay or Omission not Waiver	23
	ARTICLE 7
	TRUSTEE
	Section 7.01.	General	23
	Section 7.02.	Certain Rights of Trustee	23
	Section 7.03.	Individual Rights of Trustee	24
	Section 7.04.	Trustee’s Disclaimer	24
	Section 7.05.	Notice of Default	24
	Section 7.06.	Reports by Trustee to Holders	25
	Section 7.07.	Compensation and Indemnity	25
	Section 7.08.	Replacement of Trustee	25
	Section 7.09.	Acceptance of Appointment by Successor	26
	Section 7.10.	Successor Trustee By Merger, Etc.	27
	Section 7.11.	Eligibility	27
	Section 7.12.	Money Held in Trust	27
	ARTICLE 8
	SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS
	Section 8.01.	Satisfaction and Discharge of Indenture	27
	Section 8.02.	Application by Trustee of Funds Deposited for Payment of Securities	28
	Section 8.03.	Repayment of Moneys Held by Paying Agent	28
	Section 8.04.	Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years	28
	Section 8.05.	Defeasance and Discharge of Indenture	28
	Section 8.06.	Defeasance of Certain Obligations	29
	Section 8.07.	Reinstatement	30
	Section 8.08.	Indemnity	30
	Section 8.09.	Excess Funds	30
	Section 8.10.	Qualifying Trustee	30
	ARTICLE 9
	AMENDMENTS, SUPPLEMENTS AND WAIVERS
	Section 9.01.	Without Consent of Holders	30
	Section 9.02.	With Consent of Holders	31
	Section 9.03.	Revocation and Effect of Consent	31
	Section 9.04.	Notation on or Exchange of Securities	32
	Section 9.05.	Trustee to Sign Amendments, Etc.	32
	Section 9.06.	Conformity with Trust Indenture Act	32

 

    ii 

     

    

 

	ARTICLE 10
	MISCELLANEOUS
	Section 10.01.	Trust Indenture Act of 1939	32
	Section 10.02.	Notices	32
	Section 10.03.	Certificate and Opinion as to Conditions Precedent	33
	Section 10.04.	Statements Required in Certificate or Opinion	33
	Section 10.05.	Evidence of Ownership	33
	Section 10.06.	Rules by Trustee, Paying Agent or Registrar	34
	Section 10.07.	Payment Date Other Than a Business Day	34
	Section 10.08.	Governing Law	34
	Section 10.09.	No Adverse Interpretation of Other Agreements	34
	Section 10.10.	Successors	34
	Section 10.11.	Duplicate Originals	34
	Section 10.12.	Separability	34
	Section 10.13.	Table of Contents, Headings, Etc.	34
	Section 10.14.	Incorporators, Stockholders, Officers and Directors of Company Exempt from Individual Liability	34
	Section 10.15.	Judgment Currency	35

 

SIGNATURES

 

    iii 

     

    

 

SENIOR INDENTURE, dated as of ______ __, 20__,
between Charles River Laboratories International, Inc., a Delaware corporation, as the Company, and U.S. Bank National Association, a
national banking association, as Trustee.

 

RECITALS OF THE COMPANY

 

WHEREAS, the Company has duly authorized the issue
from time to time of its senior debentures, notes or other evidences of indebtedness to be issued in one or more series (the “Securities”)
up to such principal amount or amounts as may from time to time be authorized in accordance with the terms of this Indenture and to provide,
among other things, for the authentication, delivery and administration thereof, the Company has duly authorized the execution and delivery
of this Indenture; and

 

WHEREAS, all things necessary to make this Indenture
a valid indenture and agreement according to its terms have been done;

 

NOW, THEREFORE:

 

In consideration of the premises and the purchases
of the Securities by the holders thereof, the Company and the Trustee mutually covenant and agree for the equal and proportionate benefit
of the respective holders from time to time of the Securities or of any and all series thereof and of the coupons, if any, appertaining
thereto as follows:

 

ARTICLE 1

Definitions
and Incorporation by Reference

 

Section 1.01. Definitions.

 

“Affiliate” of any Person means
any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such Person. For
the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling”, “controlled
by” and “under common control with”) when used with respect to any Person means the possession, directly or indirectly,
of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities,
by contract or otherwise.

 

“Agent” means any Registrar,
Paying Agent, transfer agent or Authenticating Agent.

 

“Authorized Newspaper” means
a newspaper (which, in the case of The City of New York, will, if practicable, be The Wall Street Journal (Eastern Edition) and in the
case of London, will, if practicable, be the Financial Times (London Edition) and published in an official language of the country of
publication customarily published at least once a day for at least five days in each calendar week and of general circulation in The City
of New York or London, as applicable. If it shall be impractical in the opinion of the Trustee to make any publication of any notice required
hereby in an Authorized Newspaper, any publication or other notice in lieu thereof which is made or given with the approval of the Trustee
shall constitute a sufficient publication of such notice.

 

“Board Resolution” means one
or more resolutions of the board of directors of the Company or any authorized committee thereof, certified by the secretary or an assistant
secretary to have been duly adopted and to be in full force and effect on the date of certification, and delivered to the Trustee.

 

“Business Day” means any day,
other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions are authorized or required by
law or regulation to close in The City of New York, with respect to any Security the interest on which is based on the offered quotations
in the interbank Eurodollar market for dollar deposits in London, or with respect to Securities denominated in a specified currency other
than United States dollars, in the principal financial center of the country of the specified currency.

 

“Capital Lease” means, with
respect to any Person, any lease of any property which, in conformity with GAAP, is required to be capitalized on the balance sheet of
such Person.

 

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

 

    1 

     

    

 

“Company” means the party named
as such in the first paragraph of this Indenture until a successor replaces it pursuant to Article 5 of this Indenture and thereafter
means the successor.

 

“Corporate Trust Office” means
the office of the Trustee at which the corporate trust business of the Trustee shall, at any particular time, be administered, which office
is, at the date of this Indenture, located at 227 West Monroe Street, Suite 2600, Chicago, Illinois 60606 Attention: Worldwide Securities
Services.

 

“Currency Agreement” means,
with respect to any Person, any foreign exchange contract, currency swap agreement or other similar agreement or arrangement designed
to protect such Person or any of its Subsidiaries against fluctuations in currency values to or under which such Person or any of its
Subsidiaries is a party or a beneficiary on the date hereof or becomes a party or a beneficiary thereafter.

 

“Debt” means, with respect
to any Person at any date of determination (without duplication), (i) all indebtedness of such Person for borrowed money, (ii) all obligations
of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such Person in respect of
letters of credit or bankers’ acceptance or other similar instruments (or reimbursement obligations with respect thereto), (iv)
all obligations of such Person to pay the deferred purchase price of property or services, except Trade Payables, (v) all obligations
of such Person as lessee under Capital Leases, (vi) all Debt of others secured by a Lien on any asset of such Person, whether or not such
Debt is assumed by such Person; provided that, for purposes of determining the amount of any Debt of the type described in this clause,
if recourse with respect to such Debt is limited to such asset, the amount of such Debt shall be limited to the lesser of the fair market
value of such asset or the amount of such Debt, (vii) all Debt of others Guaranteed by such Person to the extent such Debt is Guaranteed
by such Person, (viii) all redeemable stock valued at the greater of its voluntary or involuntary liquidation preference plus accrued
and unpaid dividends and (ix) to the extent not otherwise included in this definition, all obligations of such Person under Currency Agreements
and Interest Rate Agreements.

 

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

 

“Depositary” means, with respect
to the Securities of any series issuable or issued in the form of one or more Registered Global Securities, the Person designated as Depositary
by the Company pursuant to Section 2.03 until a successor Depositary shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Depositary” shall mean or include each Person who is then a Depositary hereunder, and if
at any time there is more than one such Person, “Depositary” as used with respect to the Securities of any such series
shall mean the Depositary with respect to the Registered Global Securities of that series.

 

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

 

“GAAP” means generally accepted
accounting principles in the U.S. as in effect as of the date hereof applied on a basis consistent with the principles, methods, procedures
and practices employed in the preparation of the Company’s audited financial statements, including, without limitation, those set
forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants
and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as is approved
by a significant segment of the accounting profession.

 

“Guarantee” means any obligation,
contingent or otherwise, of any Person directly or indirectly guaranteeing any Debt or other obligation of any other Person and, without
limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (i) to purchase
or pay (or advance or supply funds for the purchase or payment of) such Debt or other obligation of such other Person (whether arising
by virtue of partnership arrangements, or by agreement to keepwell, to purchase assets, goods, securities or services, to take-or-pay,
or to maintain financial statement conditions or otherwise) or (ii) entered into for purposes of assuring in any other manner the obligee
of such Debt or other obligation of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part);
provided that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course
of business. The term “Guarantee” used as a verb has a corresponding meaning.

 

    2 

     

    

 

“Holder” or “Securityholder”
means the registered holder of any Security with respect to Registered Securities and the bearer of any Unregistered Security or any coupon
appertaining thereto, as the case may be.

 

“Indenture” means this Indenture
as originally executed and delivered or as it may be amended or supplemented from time to time by one or more indentures supplemental
to this Indenture entered into pursuant to the applicable provisions of this Indenture and shall include the forms and terms of the Securities
of each series established as contemplated pursuant to Sections 2.01 and 2.03.

 

“Interest Rate Agreement” means,
with respect to any Person, any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest
rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement
or arrangement designed to protect such Person or any of its Subsidiaries against fluctuations in interest rates to or under which such
Person or any of its Subsidiaries is a party or a beneficiary on the date hereof or becomes a party or a beneficiary thereafter.

 

“Lien” means, with respect
to any property, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such property. For purposes
of this Indenture, the Company shall be deemed to own subject to a Lien any property which it has acquired or holds subject to the interest
of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to such property.

 

“Officer” means, with respect
to the Company, the chairman of the board of directors, the president or chief executive officer, any vice president, the chief financial
officer, the treasurer or any assistant treasurer, or the secretary or any assistant secretary.

 

“Officers’ Certificate”
means a certificate signed in the name of the Company (i) by the chairman of the board of directors, the president or chief executive
officer or a vice president and (ii) by the chief financial officer, the treasurer or any assistant treasurer, or the secretary or any
assistant secretary, and delivered to the Trustee. Each such certificate shall comply with Section 314 of the Trust Indenture Act, if
applicable, and include (except as otherwise expressly provided in this Indenture) the statements provided in Section 10.04, if applicable.

 

“Opinion of Counsel” means
a written opinion signed by legal counsel, who may be an employee of or counsel to the Company, satisfactory to the Trustee. Each such
opinion shall comply with Section 314 of the Trust Indenture Act, if applicable, and include the statements provided in Section 10.04,
if and to the extent required thereby.

 

“original issue date” of any
Security (or portion thereof) means the earlier of (a) the date of authentication of such Security or (b) the date of any Security (or
portion thereof) for which such Security was issued (directly or indirectly) on registration of transfer, exchange or substitution.

 

“Original Issue Discount Security”
means any Security that provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration
of the maturity thereof pursuant to Section 6.02.

 

“Periodic Offering” means an
offering of Securities of a series from time to time, the specific terms of which Securities, including, without limitation, the rate
or rates of interest, if any, thereon, the stated maturity or maturities thereof and the redemption provisions, if any, with respect thereto,
are to be determined by the Company or its agents upon the issuance of such Securities.

 

“Person” means an individual,
a corporation, a partnership, a limited liability company, an association, a trust or any other entity or organization, including a government
or political subdivision or an agency or instrumentality thereof.

 

“Principal” of a Security means
the principal amount of, and, unless the context indicates otherwise, includes any premium payable on, the Security.

 

“Registered Global Security”
means a Security evidencing all or a part of a series of Registered Securities, issued to the Depositary for such series in accordance
with Section 2.02, and bearing the legend prescribed in Section 2.02.

 

“Registered Security” means
any Security registered on the Security Register (as defined in Section 2.05).

 

    3 

     

    

 

“Responsible Officer” when
used with respect to the Trustee, shall mean an officer of the Trustee in the Corporate Trust Office, having direct responsibility for
the administration of this Indenture, and also, with respect to a particular matter, any other officer to whom such matter is referred
because of such officer’s knowledge of and familiarity with the particular subject.

 

“Securities” means any of the
securities, as defined in the first paragraph of the recitals hereof, that are authenticated and delivered under this Indenture and, unless
the context indicates otherwise, shall include any coupon appertaining thereto.

 

“Securities Act” means the
Securities Act of 1933, as amended.

 

“Subsidiary” means, with respect
to any Person, any corporation, association or other business entity of which a majority of the capital stock or other ownership interests
having ordinary voting power to elect a majority of the board of directors or other persons performing similar functions are at the time
directly or indirectly owned by such Person.

 

“Trade Payables” means, with
respect to any Person, any accounts payable or any other indebtedness or monetary obligation to trade creditors created, assumed or Guaranteed
by such Person or any of its Subsidiaries arising in the ordinary course of business in connection with the acquisition of goods or services.

 

“Trustee” means the party named
as such in the first paragraph of this Indenture until a successor replaces it in accordance with the provisions of Article 7 and thereafter
shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, “Trustee”
as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series.

 

“Trust Indenture Act” means
the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb), as it may be amended from time to time.

 

“Unregistered Security” means
any Security other than a Registered Security.

 

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

 

“Yield to Maturity” means,
as the context may require, the yield to maturity (i) on a series of Securities or (ii) if the Securities of a series are issuable from
time to time, on a Security of such series, calculated at the time of issuance of such series in the case of clause (i) or at the time
of issuance of such Security of such series in the case of clause (ii), or, if applicable, at the most recent redetermination of interest
on such series or on such Security, and calculated in accordance with the constant interest method or such other accepted financial practice
as is specified in the terms of such Security.

 

Section 1.02. Other Definitions. Each of
the following terms is defined in the section set forth opposite such term:

 

	Term	Section
	Authenticating Agent	2.02
	Cash Transaction	7.03
	Dollars	4.02
	Event of Default	6.01
	Judgment Currency	10.15(a)
	mandatory sinking fund payment	3.05
	optional sinking fund payment	3.05
	Paying Agent	2.05
	record date	2.04
	Registrar	2.05
	Required Currency	10.15(a)
	Security Register	2.05
	self-liquidating paper	7.03
	sinking fund payment date	3.05
	Tranche	2.14

 

 

    4 

     

    

Section 1.03. Incorporation by Reference of
Trust Indenture Act. Whenever this Indenture refers to a provision of the Trust Indenture Act, the provision is incorporated by reference
in and made a part of this Indenture. The following terms used in this Indenture that are defined by the Trust Indenture Act have the
following meanings:

 

“indenture securities” means
the Securities;

 

“indenture security holder”
means a Holder or a Securityholder;

 

“indenture to be qualified”
means this Indenture;

 

“indenture trustee” or “institutional
trustee” means the Trustee; and

 

“obligor” on the indenture
securities means the Company or any other obligor on the Securities.

 

All other terms used in this Indenture that are
defined by the Trust Indenture Act, defined by reference in the Trust Indenture Act to another statute or defined by a rule of the Commission
and not otherwise defined herein have the meanings assigned to them therein.

 

Section 1.04. Rules of Construction. Unless
the context otherwise requires:

 

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

 

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

 

(c)       “herein,”
“hereof” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or
other subdivision;

 

(d)       all
references to Sections or Articles refer to Sections or Articles of this Indenture unless otherwise indicated; and

 

(e)       use
of masculine, feminine or neuter pronouns should not be deemed a limitation, and the use of any such pronouns should be construed to include,
where appropriate, the other pronouns.

 

ARTICLE 2

The Securities

 

Section 2.01. Form and Dating. The Securities
of each series shall be substantially in such form or forms (not inconsistent with this Indenture) as shall be established by or pursuant
to one or more Board Resolutions or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture and may have imprinted or otherwise reproduced thereon
such legend or legends or endorsements, not inconsistent with the provisions of this Indenture, as may be required to comply with any
law, or with any rules of any securities exchange or usage, all as may be determined by the officers executing such Securities as evidenced
by their execution of the Securities. Unless otherwise so established, Unregistered Securities shall have coupons attached.

 

Section 2.02. Execution And Authentication.
Two Officers shall execute the Securities and one Officer shall execute the coupons appertaining thereto for the Company by facsimile
or manual signature in the name and on behalf of the Company. The seal of the Company, if any, shall be reproduced on the Securities.
If an Officer whose signature is on a Security or coupon appertaining thereto no longer holds that office at the time the Security is
authenticated, the Security and such coupon shall nevertheless be valid.

 

    5 

     

    

 

The Trustee, at the expense of the Company, may
appoint an authenticating agent (the “Authenticating Agent”) to authenticate Securities. The Authenticating Agent may
authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication
by such Authenticating Agent.

 

A Security and the coupons appertaining thereto
shall not be valid until the Trustee or Authenticating Agent manually signs the certificate of authentication on the Security or on the
Security to which such coupon appertains by an authorized officer. The signature shall be conclusive evidence that the Security or the
Security to which the coupon appertains has been authenticated under this Indenture.

 

At any time and from time to time after the execution
and delivery of this Indenture, the Company may deliver Securities of any series having attached thereto appropriate coupons, if any,
executed by the Company to the Trustee for authentication together with the applicable documents referred to below in this Section, and
the Trustee shall thereupon authenticate and deliver such Securities to or upon the written order of the Company. In authenticating any
Securities of a series, the Trustee shall be entitled to receive prior to the authentication of any Securities of such series, and (subject
to Article 7) shall be fully protected in relying upon, unless and until such documents have been superseded or revoked:

 

(a)       any
Board Resolution and/or executed supplemental indenture referred to in Sections 2.01 and 2.03 by or pursuant to which the forms and terms
of the Securities of that series were established;

 

(b)       an
Officers’ Certificate setting forth the form or forms and terms of the Securities, stating that the form or forms and terms of the
Securities of such series have been, or, in the case of a Periodic Offering, will be when established in accordance with such procedures
as shall be referred to therein, established in compliance with this Indenture; and

 

(c)       an
Opinion of Counsel substantially to the effect that the form or forms and terms of the Securities of such series have been, or, in the
case of a Periodic Offering, will be when established in accordance with such procedures as shall be referred to therein, established
in compliance with this Indenture and that the supplemental indenture, to the extent applicable, and Securities have been duly authorized
and, if executed and authenticated in accordance with the provisions of the Indenture and delivered to and duly paid for by the purchasers
thereof on the date of such opinion, would be entitled to the benefits of the Indenture and would be valid and binding obligations of
the Company, enforceable against the Company in accordance with their respective terms, subject to bankruptcy, insolvency, reorganization,
receivership, moratorium and other similar laws affecting creditors’ rights generally, general principles of equity, and covering
such other matters as shall be specified therein and as shall be reasonably requested by the Trustee.

 

The Trustee shall not be required to authenticate
such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities
under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee.

 

Notwithstanding the provisions of Sections 2.01
and 2.02, if, in connection with a Periodic Offering, all Securities of a series are not to be originally issued at one time, it shall
not be necessary to deliver the Board Resolution otherwise required pursuant to Section 2.01 or the written order, Officers’ Certificate
and Opinion of Counsel otherwise required pursuant to Section 2.02 at or prior to the authentication of each Security of such series if
such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued.

 

With respect to Securities of a series offered
in a Periodic Offering, the Trustee may rely, as to the authorization by the Company of any of such Securities, the forms and terms thereof
and the legality, validity, binding effect and enforceability thereof, upon the Opinion of Counsel and the other documents delivered pursuant
to Sections 2.01 and 2.02, as applicable, in connection with the first authentication of Securities of such series.

 

If the Company shall establish pursuant to Section
2.03 that the Securities of a series or a portion thereof are to be issued in the form of one or more Registered Global Securities, then
the Company shall execute and the Trustee shall authenticate and deliver one or more Registered Global Securities that (i) shall represent
and shall be denominated in an amount equal to the aggregate principal amount of all of the Securities of such series issued in such form
and not yet cancelled, (ii) shall be registered in the name of the Depositary for such Registered Global Security or Securities or the
nominee of such Depositary, (iii) shall be delivered by the Trustee to such Depositary or its custodian or pursuant to such Depositary’s
instructions and (iv) shall bear a legend substantially to the following effect: “Unless and until it is exchanged in whole or in
part for Securities in definitive registered form, this Security may not be transferred except as a whole by the Depositary to the nominee
of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any
such nominee to a successor Depositary or a nominee of such successor Depositary.”

 

    6 

     

    

 

Section 2.03. Amount Unlimited; Issuable in
Series. The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited.

 

The Securities may be issued in one or more series.
There shall be established in or pursuant to Board Resolution or one or more indentures supplemental hereto, prior to the initial issuance
of Securities of any series, subject to the last sentence of this Section 2.03,

 

(a)       the
designation of the Securities of the series, which shall distinguish the Securities of the series from the Securities of all other series;

 

(b)       any
limit upon the aggregate principal amount of the Securities of the series that may be authenticated and delivered under this Indenture
and any limitation on the ability of the Company to increase such aggregate principal amount after the initial issuance of the Securities
of that series (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of,
or upon redemption of, other Securities of the series pursuant hereto);

 

(c)       the
date or dates on which the principal of the Securities of the series is payable (which date or dates may be fixed or extendible);

 

(d)       the
rate or rates (which may be fixed or variable) per annum at which the Securities of the series shall bear interest, if any, the date or
dates from which such interest shall accrue, on which such interest shall be payable and (in the case of Registered Securities) on which
a record shall be taken for the determination of Holders to whom interest is payable and/or the method by which such rate or rates or
date or dates shall be determined;

 

(e)       if
other than as provided in Section 4.02, the place or places where the principal of and any interest on Securities of the series shall
be payable, any Registered Securities of the series may be surrendered for exchange, notices, demands to or upon the Company in respect
of the Securities of the series and this Indenture may be served and notice to Holders may be published;

 

(f)       the
right, if any, of the Company to redeem Securities of the series, in whole or in part, at its option and the period or periods within
which, the price or prices at which and any terms and conditions upon which Securities of the series may be so redeemed, pursuant to any
sinking fund or otherwise;

 

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

 

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

 

(i)        if
other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable upon declaration
of acceleration of the maturity thereof;

 

(j)        if
other than the coin or currency in which the Securities of the series are denominated, the coin or currency in which payment of the principal
of or interest on the Securities of the series shall be payable or if the amount of payments of principal of and/or interest on the Securities
of the series may be determined with reference to an index based on a coin or currency other than that in which the Securities of the
series are denominated, the manner in which such amounts shall be determined;

 

(k)       if
other than the currency of the United States of America, the currency or currencies, including composite currencies, in which payment
of the Principal of and interest on the Securities of the series shall be payable, and the manner in which any such currencies shall be
valued against other currencies in which any other Securities shall be payable;

 

(l)       whether
the Securities of the series or any portion thereof will be issuable as Registered Securities (and if so, whether such Securities will
be issuable as Registered Global Securities) or Unregistered Securities (with or without coupons) (and if so, whether such Securities
will be issued in temporary or permanent global form), or any combination of the foregoing, any restrictions applicable to the offer,
sale or delivery of Unregistered Securities or the payment of interest thereon and, if other than as provided herein, the terms upon which
Unregistered Securities of any series may be exchanged for Registered Securities of such series and vice versa;

 

    7 

     

    

 

(m)      whether
and under what circumstances the Company will pay additional amounts on the Securities of the series held by a person who is not a U.S.
person in respect of any tax, assessment or governmental charge withheld or deducted and, if so, whether the Company will have the option
to redeem such Securities rather than pay such additional amounts;

 

(n)       if
the Securities of the series are to be issuable in definitive form (whether upon original issue or upon exchange of a temporary Security
of such series) only upon receipt of certain certificates or other documents or satisfaction of other conditions, the form and terms of
such certificates, documents or conditions;

 

(o)       any
trustees, depositaries, authenticating or paying agents, transfer agents or the registrar or any other agents with respect to the Securities
of the series;

 

(p)       provisions,
if any, for the defeasance of the Securities of the series (including provisions permitting defeasance of less than all Securities of
the series), which provisions may be in addition to, in substitution for, or in modification of (or any combination of the foregoing)
the provisions of Article 8;

 

(q)       if
the Securities of the series are issuable in whole or in part as one or more Registered Global Securities or Unregistered Securities in
global form, the identity of the Depositary or common Depositary for such Registered Global Security or Securities or Unregistered Securities
in global form;

 

(r)       any
other Events of Default or covenants with respect to the Securities of the series; and

 

(s)       any
other terms of the Securities of the series (which terms shall not be inconsistent with the provisions of this Indenture).

 

All Securities of any one series and coupons,
if any, appertaining thereto shall be substantially identical, except in the case of Registered Securities as to date and denomination,
except in the case of any Periodic Offering and except as may otherwise be provided by or pursuant to the Board Resolution referred to
above or as set forth in any such indenture supplemental hereto. All Securities of any one series need not be issued at the same time
and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to such Board Resolution
or in any such indenture supplemental hereto and any forms and terms of Securities to be issued from time to time may be completed and
established from time to time prior to the issuance thereof by procedures described in such Board Resolution or supplemental indenture.

 

Unless otherwise expressly provided with respect
to a series of Securities, the aggregate principal amount of a series of Securities may be increased and additional Securities of such
series may be issued up to the maximum aggregate principal amount authorized with respect to such series as increased.

 

Section 2.04. Denomination and Date of Securities;
Payments of Interest. The Securities of each series shall be issuable as Registered Securities or Unregistered Securities in denominations
established as contemplated by Section 2.03 or, if not so established with respect to Securities of any series, in denominations of $1,000
and any integral multiple thereof. The Securities of each series shall be numbered, lettered or otherwise distinguished in such manner
or in accordance with such plan as the Officers of the Company executing the same may determine, as evidenced by their execution thereof.

 

Unless otherwise specified with respect to a series
of Securities, each Security shall be dated the date of its authentication. The Securities of each series shall bear interest, if any,
from the date, and such interest and shall be payable on the dates, established as contemplated by Section 2.03.

 

    8 

     

    

 

The person in whose name any Registered Security
of any series is registered at the close of business on any record date applicable to a particular series with respect to any interest
payment date for such series shall be entitled to receive the interest, if any, payable on such interest payment date notwithstanding
any transfer or exchange of such Registered Security subsequent to the record date and prior to such interest payment date, except if
and to the extent the Company shall default in the payment of the interest due on such interest payment date for such series, in which
case the provisions of Section 2.13 shall apply. The term “record date” as used with respect to any interest payment
date (except a date for payment of defaulted interest) for the Securities of any series shall mean the date specified as such in the terms
of the Registered Securities of such series established as contemplated by Section 2.03, or, if no such date is so established, the fifteenth
day next preceding such interest payment date, whether or not such record date is a Business Day.

 

Section 2.05. Registrar and Paying Agent; Agents
Generally. The Company shall maintain an office or agency where Securities may be presented for registration, registration of transfer
or for exchange (the “Registrar”) and an office or agency where Securities may be presented for payment (the “Paying
Agent”), which shall be in the Borough of Manhattan, The City of New York or in Chicago, Illinois. The Company shall cause the
Registrar to keep a register of the Registered Securities and of their registration, transfer and exchange (the “Security Register”).
The Company may have one or more additional Paying Agents or transfer agents with respect to any series.

 

The Company shall enter into an appropriate agency
agreement with any Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture and the Trust Indenture
Act that relate to such Agent. The Company shall give prompt written notice to the Trustee of the name and address of any Agent and any
change in the name or address of an Agent. If the Company fails to maintain a Registrar or Paying Agent, the Trustee shall act as such.
The Company may remove any Agent upon written notice to such Agent and the Trustee; provided that no such removal shall become
effective until (i) the acceptance of an appointment by a successor Agent to such Agent as evidenced by an appropriate agency agreement
entered into by the Company and such successor Agent and delivered to the Trustee or (ii) notification to the Trustee that the Trustee
shall serve as such Agent until the appointment of a successor Agent in accordance with clause (i) of this proviso. The Company or any
affiliate of the Company may act as Paying Agent or Registrar; provided that neither the Company nor an affiliate of the Company
shall act as Paying Agent in connection with the defeasance of the Securities or the discharge of this Indenture under Article 8.

 

The Company initially appoints the Trustee as
Registrar, Paying Agent and Authenticating Agent. If, at any time, the Trustee is not the Registrar, the Registrar shall make available
to the Trustee ten days prior to each interest payment date and at such other times as the Trustee may reasonably request the names and
addresses of the Holders as they appear in the Security Register.

 

Section 2.06. Paying Agent to Hold Money in
Trust. Not later than 10:00 a.m. New York City time on each due date or, in the case of Unregistered Securities, 10:00 a.m. New York
City time on the Business Day prior to the due date, of any Principal or interest on any Securities, the Company shall deposit with the
Paying Agent money in immediately available funds sufficient to pay such Principal or interest. The Company shall require each Paying
Agent other than the Trustee to agree in writing that such Paying Agent shall hold in trust for the benefit of the Holders of such Securities
or the Trustee all money held by the Paying Agent for the payment of Principal of and interest on such Securities and shall promptly notify
the Trustee of any default by the Company in making any such payment. The Company at any time may require a Paying Agent to pay all money
held by it to the Trustee and account for any funds disbursed, and the Trustee may at any time during the continuance of any payment default,
upon written request to a Paying Agent, require such Paying Agent to pay all money held by it to the Trustee and to account for any funds
disbursed. Upon doing so, the Paying Agent shall have no further liability for the money so paid over to the Trustee. If the Company or
any affiliate of the Company acts as Paying Agent, it will, on or before each due date of any Principal of or interest on any Securities,
segregate and hold in a separate trust fund for the benefit of the Holders thereof a sum of money sufficient to pay such Principal or
interest so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture,
and will promptly notify the Trustee in writing of its action or failure to act as required by this Section.

 

Section 2.07. Transfer and Exchange. Unregistered
Securities (except for any temporary global Unregistered Securities) and coupons (except for coupons attached to any temporary global
Unregistered Securities) shall be transferable by delivery.

 

    9 

     

    

 

At the option of the Holder thereof, Registered
Securities of any series (other than a Registered Global Security, except as set forth below) may be exchanged for a Registered Security
or Registered Securities of such series and tenor having authorized denominations and an equal aggregate principal amount, upon surrender
of such Registered Securities to be exchanged at the agency of the Company that shall be maintained for such purpose in accordance with
Section 2.05 and upon payment, if the Company shall so require, of the charges hereinafter provided. If the Securities of any series are
issued in both registered and unregistered form, except as otherwise established pursuant to Section 2.03, at the option of the Holder
thereof, Unregistered Securities of any series may be exchanged for Registered Securities of such series and tenor having authorized denominations
and an equal aggregate principal amount, upon surrender of such Unregistered Securities to be exchanged at the agency of the Company that
shall be maintained for such purpose in accordance with Section 4.02, with, in the case of Unregistered Securities that have coupons attached,
all unmatured coupons and all matured coupons in default thereto appertaining, and upon payment, if the Company shall so require, of the
charges hereinafter provided. At the option of the Holder thereof, if Unregistered Securities of any series, maturity date, interest rate
and original issue date are issued in more than one authorized denomination, except as otherwise established pursuant to Section 2.03,
such Unregistered Securities may be exchanged for Unregistered Securities of such series and tenor having authorized denominations and
an equal aggregate principal amount, upon surrender of such Unregistered Securities to be exchanged at the agency of the Company that
shall be maintained for such purpose in accordance with Section 4.02, with, in the case of Unregistered Securities that have coupons attached,
all unmatured coupons and all matured coupons in default thereto appertaining, and upon payment, if the Company shall so require, of the
charges hereinafter provided. Registered Securities of any series may not be exchanged for Unregistered Securities of such series. Whenever
any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities
which the Holder making the exchange is entitled to receive.

 

Upon surrender for registration of transfer of
any Registered Security of a series at the agency of the Company that shall be maintained for that purpose in accordance with Section
2.05 and upon payment, if the Company shall so require, of the charges hereinafter provided, the Company shall execute, and the Trustee
shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Registered Securities of the
same series, of any authorized denominations and of like tenor and aggregate principal amount.

 

All Registered Securities presented for registration
of transfer, exchange, redemption or payment shall be duly endorsed by, or be accompanied by a written instrument or instruments of transfer
in form satisfactory to the Company and the Trustee duly executed by, the holder or his attorney duly authorized in writing.

 

The Company may require payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection with any exchange or registration of transfer of Securities.
No service charge shall be made for any such transaction.

 

Notwithstanding any other provision of this Section
2.07, unless and until it is exchanged in whole or in part for Securities in definitive registered form, a Registered Global Security
representing all or a portion of the Securities of a series may not be transferred except as a whole by the Depositary for such series
to a nominee of such Depositary or by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by such
Depositary or any such nominee to a successor Depositary for such series or a nominee of such successor Depositary.

 

If at any time the Depositary for any Registered
Global Securities of any series notifies the Company that it is unwilling or unable to continue as Depositary for such Registered Global
Securities or if at any time the Depositary for such Registered Global Securities shall no longer be eligible under applicable law, the
Company shall appoint a successor Depositary eligible under applicable law with respect to such Registered Global Securities. If a successor
Depositary eligible under applicable law for such Registered Global Securities is not appointed by the Company within 90 days after the
Company receives such notice or becomes aware of such ineligibility, the Company will execute, and the Trustee, upon receipt of the Company’s
order for the authentication and delivery of definitive Registered Securities of such series and tenor, will authenticate and deliver
Registered Securities of such series and tenor, in any authorized denominations, in an aggregate principal amount equal to the principal
amount of such Registered Global Securities, in exchange for such Registered Global Securities.

 

The Company may at any time and in its sole discretion
and subject to the procedures of the Depositary determine that any Registered Global Securities of any series shall no longer be maintained
in global form. In such event the Company will execute, and the Trustee, upon receipt of the Company’s order for the authentication
and delivery of definitive Registered Securities of such series and tenor, will authenticate and deliver, Registered Securities of such
series and tenor in any authorized denominations, in an aggregate principal amount equal to the principal amount of such Registered Global
Securities, in exchange for such Registered Global Securities.

 

    10 

     

    

 

Any time the Registered Securities of any series
are not in the form of Registered Global Securities pursuant to the preceding two paragraphs, the Company agrees to supply the Trustee
with a reasonable supply of certificated Registered Securities without the legend required by Section 2.02 and the Trustee agrees to hold
such Registered Securities in safekeeping until authenticated and delivered pursuant to the terms of this Indenture.

 

If established by the Company pursuant to Section
2.03 with respect to any Registered Global Security, the Depositary for such Registered Global Security may surrender such Registered
Global Security in exchange in whole or in part for Registered Securities of the same series and tenor in definitive registered form on
such terms as are acceptable to the Company and such Depositary. Thereupon, the Company shall execute, and the Trustee shall authenticate
and deliver, without service charge,

 

(a)       to
the Person specified by such Depositary new Registered Securities of the same series and tenor, of any authorized denominations as requested
by such Person, in an aggregate principal amount equal to and in exchange for such Person’s beneficial interest in the Registered
Global Security; and

 

(b)       to
such Depositary a new Registered Global Security in a denomination equal to the difference, if any, between the principal amount of the
surrendered Registered Global Security and the aggregate principal amount of Registered Securities authenticated and delivered pursuant
to clause (a) above.

 

Registered Securities issued in exchange for a
Registered Global Security pursuant to this Section 2.07 shall be registered in such names and in such authorized denominations as the
Depositary for such Registered Global Security, pursuant to instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee or an agent of the Company or the Trustee. The Trustee or such agent shall deliver such Securities to or as directed
by the Persons in whose names such Securities are so registered.

 

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

 

Notwithstanding anything herein or in the forms
or terms of any Securities to the contrary, none of the Company, the Trustee or any agent of the Company or the Trustee shall be required
to exchange any Unregistered Security for a Registered Security if such exchange would result in adverse Federal income tax consequences
to the Company (such as, for example, the inability of the Company to deduct from its income, as computed for Federal income tax purposes,
the interest payable on the Unregistered Securities) under then applicable United States Federal income tax laws. The Trustee and any
such agent shall be entitled to rely on an Officers’ Certificate or an Opinion of Counsel in determining such result.

 

The Registrar shall not be required (i) to issue,
authenticate, register the transfer of or exchange Securities of any series for a period of 15 days before a selection of such Securities
to be redeemed or (ii) to register the transfer of or exchange any Security selected for redemption in whole or in part.

 

Section 2.08. Replacement Securities. If
any mutilated Security or a Security with a mutilated coupon appertaining to it is surrendered to the Trustee, the Company shall execute
and the Trustee shall authenticate and deliver, in exchange for such mutilated Security or in exchange for the Security to which a mutilated
coupon appertains, a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously
outstanding, with coupons corresponding to the coupons, if any, appertaining to such mutilated Security or to the Security to which such
mutilated coupon appertains.

 

If there shall be delivered to the Company and
the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security or coupon and (ii) such security or indemnity
as may be required by them to save each of them and any agent of any of them harmless, then, in the absence of notice to the Company or
the Trustee that such Security or coupon has been acquired by a bona fide purchaser, the Company shall execute and the Trustee shall authenticate
and deliver, in lieu of any such destroyed, lost or stolen Security or in exchange for the Security to which a destroyed, lost or stolen
coupon appertains (with all appurtenant coupons not destroyed, lost or stolen), a new Security of the same series and of like tenor and
principal amount and bearing a number not contemporaneously outstanding, with coupons corresponding to the coupons, if any, appertaining
to such destroyed, lost or stolen Security or to the Security to which such destroyed, lost or stolen coupon appertains.

 

    11 

     

    

 

In case any such mutilated, destroyed, lost or
stolen Security or coupon has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new
Security, pay such Security or coupon (without surrender thereof except in the case of a mutilated Security or coupon) if the applicant
for such payment shall furnish to the Company and the Trustee such security or indemnity as may be required by them to save each of them
and any agent of any of them harmless, and in the case of destruction, loss or theft, evidence satisfactory to the Company and the Trustee
and any agent of them of the destruction, loss or theft of such Security and the ownership thereof; provided, however, that the
Principal of and any interest on Unregistered Securities shall, except as otherwise provided in Section 4.02, be payable only at an office
or agency located outside the United States.

 

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

 

Every new Security of any series, with its coupons,
if any, issued pursuant to this Section in lieu of any destroyed, lost or stolen Security or in exchange for any mutilated Security, or
in exchange for a Security to which a mutilated, destroyed, lost or stolen coupon appertains, shall constitute an original additional
contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security and its coupons, if any, or the
mutilated, destroyed, lost or stolen coupon shall be at any time enforceable by anyone, and any such new Security and coupons, if any,
shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that series and
their coupons, if any, duly issued hereunder.

 

The provisions of this Section are exclusive and
shall preclude (to the extent lawful) any other rights and remedies with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities or coupons.

 

Section 2.09. Outstanding Securities. Securities
outstanding at any time are all Securities that have been authenticated by the Trustee except for those cancelled by it, those delivered
to it for cancellation, those described in this Section as not outstanding and those that have been defeased pursuant to Section 8.05.

 

If a Security is replaced pursuant to Section
2.08, it ceases to be outstanding unless and until the Trustee and the Company receive proof satisfactory to them that the replaced Security
is held by a holder in due course.

 

If the Paying Agent (other than the Company or
an affiliate of the Company) holds on the maturity date or any redemption date or date for repurchase of the Securities money sufficient
to pay Securities payable or to be redeemed or repurchased on that date, then on and after that date such Securities cease to be outstanding
and interest on them shall cease to accrue.

 

A Security does not cease to be outstanding because
the Company or one of its affiliates holds such Security, provided, however, that, in determining whether the Holders of the requisite
principal amount of the outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder,
Securities owned by the Company or any affiliate of the Company shall be disregarded and deemed not to be outstanding, except that, in
determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent
or waiver, only Securities as to which a Responsible Officer of the Trustee has received written notice to be so owned shall be so disregarded.
Any Securities so owned which are pledged by the Company, or by any affiliate of the Company, as security for loans or other obligations,
otherwise than to another such affiliate of the Company, shall be deemed to be outstanding, if the pledgee is entitled pursuant to the
terms of its pledge agreement and is free to exercise in its or his discretion the right to vote such securities, uncontrolled by the
Company or by any such affiliate.

 

Section 2.10. Temporary Securities. Until
definitive Securities of any series are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities
of such series. Temporary Securities of any series shall be substantially in the form of definitive Securities of such series but may
have insertions, substitutions, omissions and other variations determined to be appropriate by the Officers executing the temporary Securities,
as evidenced by their execution of such temporary Securities. If temporary Securities of any series are issued, the Company will cause
definitive Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Securities of any
series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series and tenor upon surrender
of such temporary Securities at the office or agency of the Company designated for such purpose pursuant to Section 4.02, without charge
to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of such series and tenor
and authorized denominations. Until so exchanged, the temporary Securities of any series shall be entitled to the same benefits under
this Indenture as definitive Securities of such series.

 

    12 

     

    

 

Section 2.11. Cancellation. The Company
at any time may deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company
may have acquired in any manner whatsoever, and may deliver to the Trustee for cancellation any Securities previously authenticated hereunder
which the Company has not issued and sold. The Registrar, any transfer agent and the Paying Agent shall forward to the Trustee any Securities
surrendered to them for transfer, exchange or payment. The Trustee shall cancel and dispose of in accordance with its customary procedures
all Securities surrendered for transfer, exchange, payment or cancellation and shall deliver a certificate of disposition to the Company.
The Company may not issue new Securities to replace Securities it has paid in full or delivered to the Trustee for cancellation.

 

Section 2.12. CUSIP Numbers. The Company
in issuing the Securities may use “CUSIP” and “CINS” numbers (if then generally in use), and the Trustee shall
use CUSIP numbers or CINS numbers, as the case may be, in notices of redemption or exchange as a convenience to Holders and no representation
shall be made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of redemption or
exchange.

 

Section 2.13. Defaulted Interest. If the
Company defaults in a payment of interest on the Registered Securities, it shall pay, or shall deposit with the Paying Agent money in
immediately available funds sufficient to pay, the defaulted interest plus (to the extent lawful) any interest payable on the defaulted
interest (as may be specified in the terms thereof, established pursuant to Section 2.03) to the Persons who are Holders on a subsequent
special record date, which shall mean the 15th day next preceding the date fixed by the Company for the payment of defaulted interest,
whether or not such day is a Business Day. At least 15 days before such special record date, the Company shall mail to each Holder of
such Registered Securities and to the Trustee a notice that states the special record date, the payment date and the amount of defaulted
interest to be paid.

 

Section 2.14. Series May Include Tranches.
A series of Securities may include one or more tranches (each a “tranche”) of Securities, including Securities
issued in a Periodic Offering. The Securities of different tranches may have one or more different terms, including authentication dates
and public offering prices, but all the Securities within each such tranche shall have identical terms, including authentication date
and public offering price. Notwithstanding any other provision of this Indenture, with respect to Sections 2.02 (other than the fourth,
sixth and seventh paragraphs thereof) through 2.04, 2.07, 2.08, 2.10, 3.01 through 3.05, 4.02, 6.01 through 6.14, 8.01 through 8.07, 9.02
and Section 10.07, if any series of Securities includes more than one tranche, all provisions of such sections applicable to any series
of Securities shall be deemed equally applicable to each tranche of any series of Securities in the same manner as though originally designated
a series unless otherwise provided with respect to such series or tranche pursuant to Section 2.03. In particular, and without limiting
the scope of the next preceding sentence, any of the provisions of such sections which provide for or permit action to be taken with respect
to a series of Securities shall also be deemed to provide for and permit such action to be taken instead only with respect to Securities
of one or more tranches within that series (and such provisions shall be deemed satisfied thereby), even if no comparable action is taken
with respect to Securities in the remaining tranches of that series.

 

ARTICLE 3

Redemption

 

Section 3.01. Applicability of Article. The
provisions of this Article shall be applicable to the Securities of any series which are redeemable before their maturity or to any sinking
fund for the retirement of Securities of a series except as otherwise specified as contemplated by Section 2.03 for Securities of such
series.

 

Section 3.02. Notice of Redemption; Partial
Redemptions. Notice of redemption to the Holders of Registered Securities of any series to be redeemed as a whole or in part at the
option of the Company shall be given by mailing notice of such redemption by first class mail, postage prepaid, at least 30 days and not
more than 60 days prior to the date fixed for redemption to such Holders of Registered Securities of such series at their last addresses
as they shall appear upon the registry books. Notice of redemption to the Holders of Unregistered Securities of any series to be redeemed
as a whole or in part who have filed their names and addresses with the Trustee pursuant to Section 313(c)(2) of the Trust Indenture Act,
shall be given by mailing notice of such redemption, by first class mail, postage prepaid, at least 30 days and not more than 60 days
prior to the date fixed for redemption, to such Holders at such addresses as were so furnished to the Trustee (and, in the case of any
such notice given by the Company, the Trustee shall make such information available to the Company for such purpose). Notice of redemption
to all other Holders of Unregistered Securities of any series to be redeemed as a whole or in part shall be published in an Authorized
Newspaper in The City of New York or with respect to any Security the interest on which is based on the offered quotations in the interbank
Eurodollar market for dollar deposits in an Authorized Newspaper in London, in each case, once in each of three successive calendar weeks,
the first publication to be not less than 30 days nor more than 60 days prior to the date fixed for redemption. Any notice which is mailed
or published in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the Holder receives
the notice. Failure to give notice by mail, or any defect in the notice to the Holder of any Security of a series designated for redemption
as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Security of such series.

 

    13 

     

    

 

The notice of redemption to each such Holder shall
specify the principal amount of each Security of such series held by such Holder to be redeemed, the CUSIP numbers of the Securities to
be redeemed, the date fixed for redemption, the redemption price, or if not then ascertainable, the manner of calculation thereof, the
place or places of payment, that payment will be made upon presentation and surrender of such Securities and, in the case of Securities
with coupons attached thereto, of all coupons appertaining thereto maturing after the date fixed for redemption, that such redemption
is pursuant to the mandatory or optional sinking fund, or both, if such be the case, that interest accrued to the date fixed for redemption
will be paid as specified in such notice and that on and after said date interest thereon or on the portions thereof to be redeemed will
cease to accrue. In case any Security of a series is to be redeemed in part only, the notice of redemption shall state the portion of
the principal amount thereof to be redeemed and shall state that on and after the date fixed for redemption, upon surrender of such Security,
a new Security or Securities of such series and tenor in principal amount equal to the unredeemed portion thereof will be issued.

 

The notice of redemption of Securities of any
series to be redeemed at the option of the Company shall be given by the Company or, at the Company’s request, by the Trustee in
the name and at the expense of the Company.

 

On or before 10:00 a.m. New York City time on
the redemption date or, in the case of Unregistered Securities, on or before 10:00 a.m. New York City time on the Business Day prior to
the redemption date specified in the notice of redemption given as provided in this Section, the Company will deposit with the Trustee
or with one or more Paying Agents (or, if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided
in Section 2.06) an amount of money sufficient to redeem on the redemption date all the Securities of such series so called for redemption
at the appropriate redemption price, together with accrued interest to the date fixed for redemption. If all of the outstanding Securities
of a series are to be redeemed, the Company will deliver to the Trustee at least 10 days prior to the last date on which notice of redemption
may be given to Holders pursuant to the first paragraph of this Section 3.02 (or such shorter period as shall be acceptable to the Trustee)
an Officers’ Certificate stating that all such Securities are to be redeemed. If less than all the outstanding Securities of a series
are to be redeemed, the Company will deliver to the Trustee at least 15 days prior to the last date on which notice of redemption may
be given to Holders pursuant to the first paragraph of this Section 3.02 (or such shorter period as shall be acceptable to the Trustee)
an Officers’ Certificate stating the aggregate principal amount of such Securities to be redeemed. In the case of any redemption
of Securities (a) prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere
in this Indenture, or (b) pursuant to an election of the Company which is subject to a condition specified in the terms of such Securities
or elsewhere in this Indenture, the Company shall deliver to the Trustee, prior to the giving of any notice of redemption to Holders pursuant
to this Section, an Officers’ Certificate evidencing compliance with such restriction or condition.

 

If less than all the Securities of a series are
to be redeemed, the Trustee shall select, pro rata, by lot or in such manner as it shall deem appropriate and fair, Securities of such
series to be redeemed in whole or in part. Securities may be redeemed in part in principal amounts equal to authorized denominations for
Securities of such series. The Trustee shall promptly notify the Company in writing of the Securities of such series selected for redemption
and, in the case of any Securities of such series selected for partial redemption, the principal amount thereof to be redeemed. For all
purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate,
in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Security which has
been or is to be redeemed.

 

    14 

     

    

 

Section 3.03. Payment Of Securities Called
For Redemption. If notice of redemption has been given as above provided, the Securities or portions of Securities specified in such
notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with
interest accrued to the date fixed for redemption, and on and after such date (unless the Company shall default in the payment of such
Securities at the redemption price, together with interest accrued to such date) interest on the Securities or portions of Securities
so called for redemption shall cease to accrue, and the unmatured coupons, if any, appertaining thereto shall be void and, except as provided
in Sections 7.12 and 8.02, such Securities shall cease from and after the date fixed for redemption to be entitled to any benefit under
this Indenture, and the Holders thereof shall have no right in respect of such Securities except the right to receive the redemption price
thereof and unpaid interest to the date fixed for redemption. On presentation and surrender of such Securities at a place of payment specified
in said notice, together with all coupons, if any, appertaining thereto maturing after the date fixed for redemption, said Securities
or the specified portions thereof shall be paid and redeemed by the Company at the applicable redemption price, together with interest
accrued thereon to the date fixed for redemption; provided that payment of interest becoming due on or prior to the date fixed for redemption
shall be payable in the case of Securities with coupons attached thereto, to the Holders of the coupons for such interest upon surrender
thereof, and in the case of Registered Securities, to the Holders of such Registered Securities registered as such on the relevant record
date subject to the terms and provisions of Sections 2.04 and 2.13 hereof.

 

If any Security called for redemption shall not
be so paid upon surrender thereof for redemption, the principal shall, until paid or duly provided for, bear interest from the date fixed
for redemption at the rate of interest or Yield to Maturity (in the case of an Original Issue Discount Security) borne by such Security.

 

If any Security with coupons attached thereto
is surrendered for redemption and is not accompanied by all appurtenant coupons maturing after the date fixed for redemption, the surrender
of such missing coupon or coupons may be waived by the Company and the Trustee, if there be furnished to each of them such security or
indemnity as they may require to save each of them harmless.

 

Upon presentation of any Security of any series
redeemed in part only, the Company shall execute and the Trustee shall authenticate and deliver to or on the order of the Holder thereof,
at the expense of the Company, a new Security or Securities of such series and tenor (with any unmatured coupons attached), of authorized
denominations, in principal amount equal to the unredeemed portion of the Security so presented.

 

Section 3.04. Exclusion of Certain Securities
from Eligibility for Selection for Redemption. Securities shall be excluded from eligibility for selection for redemption if they
are identified by registration and certificate number in a written statement signed by an authorized officer of the Company and delivered
to the Trustee at least 40 days prior to the last date on which notice of redemption may be given as being owned of record and beneficially
by, and not pledged or hypothecated by, either (a) the Company or (b) an entity specifically identified in such written statement as directly
or indirectly controlling or controlled by or under direct or indirect common control with the Company.

 

Section 3.05. Mandatory and Optional Sinking
Funds. The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to
as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of
the Securities of any series is herein referred to as an “optional sinking fund payment”. The date on which a sinking
fund payment is to be made is herein referred to as the “sinking fund payment date”.

 

In lieu of making all or any part of any mandatory
sinking fund payment with respect to any series of Securities in cash, the Company may at its option (a) deliver to the Trustee Securities
of such series theretofore purchased or otherwise acquired (except through a mandatory sinking fund payment) by the Company or receive
credit for Securities of such series (not previously so credited) theretofore purchased or otherwise acquired (except as aforesaid) by
the Company and delivered to the Trustee for cancellation pursuant to Section 2.11, (b) receive credit for optional sinking fund payments
(not previously so credited) made pursuant to this Section, or (c) receive credit for Securities of such series (not previously so credited)
redeemed by the Company at the option of the Company pursuant to the terms of such Securities or through any optional sinking fund payment.
Securities so delivered or credited shall be received or credited by the Trustee at the sinking fund redemption price specified in such
Securities.

 

    15 

     

    

 

On or before the sixtieth day next preceding each
sinking fund payment date for any series, or such shorter period as shall be acceptable to the Trustee, the Company will deliver to the
Trustee an Officers’ Certificate (a) specifying the portion of the mandatory sinking fund payment to be satisfied by payment of
cash and the portion to be satisfied by credit of specified Securities of such series and the basis for such credit, (b) stating that
none of the specified Securities of such series has theretofore been so credited, (c) stating that no defaults in the payment of interest
or Events of Default with respect to such series have occurred (which have not been waived or cured) and are continuing and (d) stating
whether or not the Company intends to exercise its right to make an optional sinking fund payment with respect to such series and, if
so, specifying the amount of such optional sinking fund payment which the Company intends to pay on or before the next succeeding sinking
fund payment date. Any Securities of such series to be credited and required to be delivered to the Trustee in order for the Company to
be entitled to credit therefor as aforesaid which have not theretofore been delivered to the Trustee shall be delivered for cancellation
pursuant to Section 2.11 to the Trustee with such Officers’ Certificate (or reasonably promptly thereafter if acceptable to the
Trustee). Such Officers’ Certificate shall be irrevocable and upon its receipt by the Trustee the Company shall become unconditionally
obligated to make all the cash payments or delivery of Securities therein referred to, if any, on or before the next succeeding sinking
fund payment date. Failure of the Company, on or before any such sixtieth day, to deliver such Officer’s Certificate and Securities
specified in this paragraph, if any, shall not constitute a default but shall constitute, on and as of such date, the irrevocable election
of the Company (i) that the mandatory sinking fund payment for such series due on the next succeeding sinking fund payment date shall
be paid entirely in cash without the option to deliver or credit Securities of such series in respect thereof and (ii) that the Company
will make no optional sinking fund payment with respect to such series as provided in this Section.

 

If the sinking fund payment or payments (mandatory
or optional or both) to be made in cash on the next succeeding sinking fund payment date plus any unused balance of any preceding sinking
fund payments made in cash shall exceed $50,000 (or a lesser sum if the Company shall so request with respect to the Securities of any
series), such cash shall be applied on the next succeeding sinking fund payment date to the redemption of Securities of such series at
the sinking fund redemption price thereof together with accrued interest thereon to the date fixed for redemption. If such amount shall
be $50,000 (or such lesser sum) or less and the Company makes no such request then it shall be carried over until a sum in excess of $50,000
(or such lesser sum) is available. The Trustee shall select, in the manner provided in Section 3.02, for redemption on such sinking fund
payment date a sufficient principal amount of Securities of such series to absorb said cash, as nearly as may be, and shall (if requested
in writing by the Company) inform the Company of the serial numbers of the Securities of such series (or portions thereof) so selected.
Securities shall be excluded from eligibility for redemption under this Section if they are identified by registration and certificate
number in an Officers’ Certificate delivered to the Trustee at least 60 days prior to the sinking fund payment date as being owned
of record and beneficially by, and not pledged or hypothecated by either (a) the Company or (b) an entity specifically identified in such
Officers’ Certificate as directly or indirectly controlling or controlled by or under direct or indirect common control with the
Company. The Trustee, in the name and at the expense of the Company (or the Company, if it shall so request the Trustee in writing) shall
cause notice of redemption of the Securities of such series to be given in substantially the manner provided in Section 3.02 (and with
the effect provided in Section 3.03) for the redemption of Securities of such series in part at the option of the Company. The amount
of any sinking fund payments not so applied or allocated to the redemption of Securities of such series shall be added to the next cash
sinking fund payment for such series and, together with such payment, shall be applied in accordance with the provisions of this Section.
Any and all sinking fund moneys held on the stated maturity date of the Securities of any particular series (or earlier, if such maturity
is accelerated), which are not held for the payment or redemption of particular Securities of such series shall be applied, together with
other moneys, if necessary, sufficient for the purpose, to the payment of the Principal of, and interest on, the Securities of such series
at maturity.

 

On or before 10:00 a.m. New York City time on
each sinking fund payment date or, in the case of Unregistered Securities, 10:00 a.m. New York City time on the Business Day prior to
the sinking fund payment date, the Company shall pay to the Trustee in cash or shall otherwise provide for the payment of all interest
accrued to the date fixed for redemption on Securities to be redeemed on the next following sinking fund payment date.

 

The Trustee shall not redeem or cause to be redeemed
any Securities of a series with sinking fund moneys or mail any notice of redemption of Securities of such series by operation of the
sinking fund during the continuance of a Default in payment of interest on such Securities or of any Event of Default except that, where
the mailing of notice of redemption of any Securities shall theretofore have been made, the Trustee shall redeem or cause to be redeemed
such Securities, provided that it shall have received from the Company a sum sufficient for such redemption. Except as aforesaid, any
moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur, and any moneys thereafter
paid into the sinking fund, shall, during the continuance of such Default or Event of Default, be deemed to have been collected under
Article 6 and held for the payment of all such Securities. In case such Event of Default shall have been waived as provided in Section
6.04 or the Default cured on or before the sixtieth day preceding the sinking fund payment date in any year, such moneys shall thereafter
be applied on the next succeeding sinking fund payment date in accordance with this Section to the redemption of such Securities.

 

    16 

     

    

 

ARTICLE 4

Covenants

 

Section 4.01. Payment of Securities. The
Company shall pay the Principal of and interest on the Securities on the dates and in the manner provided in the Securities and this Indenture.
The interest on Securities with coupons attached (together with any additional amounts payable pursuant to the terms of such Securities)
shall be payable only upon presentation and surrender of the several coupons for such interest installments as are evidenced thereby as
they severally mature. The interest on any temporary Unregistered Securities (together with any additional amounts payable pursuant to
the terms of such Securities) shall be paid, as to the installments of interest evidenced by coupons attached thereto, if any, only upon
presentation and surrender thereof, and, as to the other installments of interest, if any, only upon presentation of such Unregistered
Securities for notation thereon of the payment of such interest. The interest on Registered Securities (together with any additional amounts
payable pursuant to the terms of such Securities) shall be payable only to the Holders thereof (subject to Section 2.04) and at the option
of the Company may be paid by mailing checks for such interest payable to or upon the written order of such Holders at their last addresses
as they appear on the Security Register of the Company.

 

Notwithstanding any provisions of this Indenture
and the Securities of any series to the contrary, if the Company and a Holder of any Registered Security so agree, payments of interest
on, and any portion of the Principal of, such Holder’s Registered Security (other than interest payable at maturity or on any redemption
or repayment date or the final payment of Principal on such Security) shall be made by the Paying Agent, upon receipt from the Company
of immediately available funds by 11:00 a.m., New York City time (or such other time as may be agreed to between the Company and the Paying
Agent), directly to the Holder of such Security (by Federal funds wire transfer or otherwise) if the Holder has delivered written instructions
to the Trustee 15 days prior to such payment date requesting that such payment will be so made and designating the bank account to which
such payments shall be so made and in the case of payments of Principal, surrenders the same to the Trustee in exchange for a Security
or Securities aggregating the same principal amount as the unredeemed principal amount of the Securities surrendered. The Trustee shall
be entitled to rely on the last instruction delivered by the Holder pursuant to this Section 4.01 unless a new instruction is delivered
15 days prior to a payment date. The Company will indemnify and hold each of the Trustee and any Paying Agent harmless against any loss,
liability or expense (including attorneys’ fees) resulting from any act or omission to act on the part of the Company or any such
Holder in connection with any such agreement or from making any payment in accordance with any such agreement.

 

The Company shall pay interest on overdue Principal,
and interest on overdue installments of interest, to the extent lawful, at the rate per annum specified in the Securities.

 

Section 4.02. Maintenance of Office or Agency.
The Company will maintain in the Borough of Manhattan, The City of New York, or Chicago, Illinois an office or agency where Securities
may be surrendered for registration of transfer or exchange or for presentation for payment and where notices and demands to or upon the
Company in respect of the Securities and this Indenture may be served. The Company hereby initially designates the Corporate Trust Office
of the Trustee, located in Chicago, Illinois, as such office or agency of the Company. The Company will give prompt written notice to
the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain
any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices
and demands may be made or served at the address of the Trustee set forth in Section 10.02.

 

The Company will maintain one or more agencies
in a city or cities located outside the United States (including any city in which such an agency is required to be maintained under the
rules of any stock exchange on which the Securities of any series are listed) where the Unregistered Securities, if any, of each series
and coupons, if any, appertaining thereto may be presented for payment. No payment on any Unregistered Security or coupon will be made
upon presentation of such Unregistered Security or coupon at an agency of the Company within the United States nor will any payment be
made by transfer to an account in, or by mail to an address in, the United States unless, pursuant to applicable United States laws and
regulations then in effect, such payment can be made without adverse tax consequences to the Company. Notwithstanding the foregoing, if
full payment in United States Dollars (“Dollars”) at each agency maintained by the Company outside the United States
for payment on such Unregistered Securities or coupons appertaining thereto is illegal or effectively precluded by exchange controls or
other similar restrictions, payments in Dollars of Unregistered Securities of any series and coupons appertaining thereto which are payable
in Dollars may be made at an agency of the Company maintained in the Borough of Manhattan, The City of New York, or Chicago, Illinois.

 

    17 

     

    

 

The Company may also from time to time designate
one or more other offices or agencies where the Securities of any series may be presented or surrendered for any or all such purposes
and may from time to time rescind such designations; provided that no such designation or rescission shall in any manner relieve the Company
of its obligation to maintain an office or agency in the Borough of Manhattan, The City of New York, or Chicago, Illinois for such purposes.
The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of
any such other office or agency.

 

Section 4.03. Securityholders’ Lists.
The Company will furnish or cause to be furnished to the Trustee a list in such form as the Trustee may reasonably require of the
names and addresses of the holders of the Securities pursuant to Section 312 of the Trust Indenture Act (a) semi-annually not more than
15 days after each record date for the payment of semi-annual interest on the Securities, as hereinabove specified, as of such record
date, and (b) at such other times as the Trustee may request in writing, within thirty days after receipt by the Company of any such request
as of a date not more than 15 days prior to the time such information is furnished.

 

Section 4.04. Certificate to Trustee. The
Company will furnish to the Trustee annually, on or before a date not more than four months after the end of its fiscal year (which, on
the date hereof, is a calendar year), a brief certificate (which need not contain the statements required by Section 10.04) from its principal
executive, financial or accounting officer as to his or her knowledge of the compliance of the Company with all conditions and covenants
under this Indenture (such compliance to be determined without regard to any period of grace or requirement of notice provided under this
Indenture) which certificate shall comply with the requirements of the Trust Indenture Act.

 

Section 4.05. Reports by the Company. The
Company covenants to file with the Trustee, within 15 days after the Company is required to file the same with the Commission, copies
of the annual reports and of the information, documents, and other reports which the Company may be required to file with the Commission
pursuant to Section 13 or Section 15(d) of the Exchange Act.

 

Section 4.06. Additional Amounts. If the
Securities of a series provide for the payment of additional amounts, at least 10 days prior to the first interest payment date with respect
to that series of Securities and at least 10 days prior to each date of payment of Principal of or interest on the Securities of that
series if there has been a change with respect to the matters set forth in the below-mentioned Officers’ Certificate, the Company
shall furnish to the Trustee and the principal paying agent, if other than the Trustee, an Officers’ Certificate instructing the
Trustee and such paying agent whether such payment of Principal of or interest on the Securities of that series shall be made to Holders
of the Securities of that series without withholding or deduction for or on account of any tax, assessment or other governmental charge
described in the Securities of that series. If any such withholding or deduction shall be required, then such Officers’ Certificate
shall specify by country the amount, if any, required to be withheld or deducted on such payments to such Holders and shall certify the
fact that additional amounts will be payable and the amounts so payable to each Holder, and the Company shall pay to the Trustee or such
paying agent the additional amounts required to be paid by this Section. The Company covenants to indemnify the Trustee and any paying
agent for, and to hold them harmless against, any loss, liability or expense reasonably incurred without negligence or bad faith on their
part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officers’ Certificate furnished
pursuant to this Section.

 

Whenever in this Indenture there is mentioned,
in any context, the payment of the Principal of or interest or any other amounts on, or in respect of, any Security of any series, such
mention shall be deemed to include mention of the payment of additional amounts provided by the terms of such series established hereby
or pursuant hereto to the extent that, in such context, additional amounts are, were or would be payable in respect thereof pursuant to
such terms, and express mention of the payment of additional amounts (if applicable) in any provision hereof shall not be construed as
excluding the payment of additional amounts in those provisions hereof where such express mention is not made.

 

    18 

     

    

 

ARTICLE 5

Successor
Corporation

 

Section 5.01. When Company May Merge, Etc.
The Company shall not consolidate with, merge with or into, or sell, convey, transfer, lease or otherwise dispose of all or substantially
all of its property and assets (in one transaction or a series of related transactions) to, any Person unless either (x) the Company shall
be the continuing Person or (y) the Person (if other than the Company) formed by such consolidation or into which the Company is merged
or to which properties and assets of the Company shall be sold, conveyed, transferred or leased shall be a corporation organized and validly
existing under the laws of the United States of America or any jurisdiction thereof and shall expressly assume, by a supplemental indenture,
executed and delivered to the Trustee, all of the obligations of the Company on all of the Securities and under this Indenture and the
Company in the case of clauses (x) and (y) shall have delivered to the Trustee (A) an Opinion of Counsel stating that such consolidation,
merger or sale, conveyance, transfer or lease and such supplemental indenture (if any) complies with this provision and that all conditions
precedent provided for herein relating to such transaction have been complied with and that such supplemental indenture (if any) constitutes
the legal, valid and binding obligation of the Company and such successor enforceable against such entity in accordance with its terms,
subject to customary exceptions and (B) an Officers’ Certificate to the effect that immediately after giving effect to such transaction,
no Default shall have occurred and be continuing.

 

Section 5.02. Successor Substituted. Upon
any consolidation or merger, or any sale, conveyance, transfer, lease or other disposition of all or substantially all of the property
and assets of the Company in accordance with Section 5.01 of this Indenture, the successor Person formed by such consolidation or into
which the Company is merged or to which such sale, conveyance, transfer, lease or other disposition is made shall succeed to, and be substituted
for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had
been named as the Company herein and thereafter the predecessor Person, except in the case of a lease, shall be relieved of all obligations
and covenants under this Indenture and the Securities.

 

ARTICLE 6

Default
and Remedies

 

Section 6.01. Events of Default. An “Event
of Default” shall occur with respect to the Securities of any series if:

 

(a)       the
Company defaults in the payment of the Principal of any Security of such series when the same becomes due and payable at maturity, upon
acceleration, redemption or mandatory repurchase, including as a sinking fund installment, or otherwise;

 

(b)       the
Company defaults in the payment of interest on any Security of such series when the same becomes due and payable, and such default continues
for a period of 30 days;

 

(c)       the
Company defaults in the performance of or breaches any other covenant or agreement of the Company in this Indenture with respect to any
Security of such series or in the Securities of such series and such default or breach continues for a period of 30 consecutive days after
written notice to the Company by the Trustee or to the Company and the Trustee by the Holders of 25% or more in aggregate principal amount
of the Securities of all series affected thereby specifying such default or breach and requiring it to be remedied and stating that such
notice is a “Notice of Default” hereunder;

 

(d)       a
court having jurisdiction in the premises shall enter a decree or order for relief in respect of the Company in an involuntary case under
any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee,
custodian, trustee, sequestrator (or similar official) of the Company or for any substantial part of its property or ordering the winding
up or liquidation of its affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days;

 

(e)       the
Company (i) commences a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or
consents to the entry of an order for relief in an involuntary case under any such law, (ii) consents to the appointment of or taking
possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Company or for all or substantially
all of the property and assets of the Company or (iii) effects any general assignment for the benefit of creditors; or

 

(f)       any
other Event of Default established pursuant to Section 2.03 with respect to the Securities of such series occurs.

 

    19 

     

    

 

Section 6.02. Acceleration. (a) If an Event
of Default other than as described in clauses (d) or (e) of Section 6.01 with respect to the Securities of any series then outstanding
occurs and is continuing, then, and in each and every such case, except for any series of Securities the principal of which shall have
already become due and payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities
of any such series then outstanding hereunder (each such series treated as a separate class) by notice in writing to the Company (and
to the Trustee if given by Securityholders), may declare the entire principal (or, if the Securities of any such series are Original Issue
Discount Securities, such portion of the principal amount as may be specified in the terms of such series established pursuant to Section
2.03) of all Securities of such series, and the interest accrued thereon, if any, to be due and payable immediately, and upon any such
declaration the same shall become immediately due and payable.

 

(b)       If
an Event of Default described in clause (d) or (e) of Section 6.01 occurs and is continuing, then the principal amount (or, if any Securities
are Original Issue Discount Securities, such portion of the principal as may be specified in the terms thereof established pursuant to
Section 2.03) of all the Securities then outstanding and interest accrued thereon, if any, shall be and become immediately due and payable,
without any notice or other action by any Holder or the Trustee, to the full extent permitted by applicable law.

 

The foregoing provisions, however, are subject
to the condition that if, at any time after the principal (or, if the Securities are Original Issue Discount Securities, such portion
of the principal as may be specified in the terms thereof established pursuant to Section 2.03) of the Securities of any series (or of
all the Securities, as the case may be) shall have been so declared or become due and payable, and before any judgment or decree for the
payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the
Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of each such series (or of all the Securities,
as the case may be) and the principal of any and all Securities of each such series (or of all the Securities, as the case may be) which
shall have become due otherwise than by acceleration (with interest upon such principal and, to the extent that payment of such interest
is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest or Yield to Maturity
(in the case of Original Issue Discount Securities) specified in the Securities of each such series to the date of such payment or deposit)
and such amount as shall be sufficient to cover all amounts owing the Trustee under Section 7.07, and if any and all Events of Default
under the Indenture, other than the non-payment of the principal of Securities which shall have become due by acceleration, shall have
been cured, waived or otherwise remedied as provided herein, then and in every such case the Holders of a majority in aggregate principal
amount of all the then outstanding Securities of all such series that have been accelerated (voting as a single class), by written notice
to the Company and to the Trustee, may waive all defaults with respect to all such series (or with respect to all the Securities, as the
case may be) and rescind and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend
to or shall affect any subsequent default or shall impair any right consequent thereon.

 

For all purposes under this Indenture, if a portion
of the principal of any Original Issue Discount Securities shall have been accelerated and declared or become due and payable pursuant
to the provisions hereof, then, from and after such declaration, unless such declaration has been rescinded and annulled, the principal
amount of such Original Issue Discount Securities shall be deemed, for all purposes hereunder, to be such portion of the principal thereof
as shall be due and payable as a result of such acceleration, and payment of such portion of the principal thereof as shall be due and
payable as a result of such acceleration, together with interest, if any, thereon and all other amounts owing thereunder, shall constitute
payment in full of such Original Issue Discount Securities.

 

Section 6.03. Other Remedies. If a payment
default or an Event of Default with respect to the Securities of any series occurs and is continuing, the Trustee may pursue, in its own
name or as trustee of an express trust, any available remedy by proceeding at law or in equity to collect the payment of Principal of
and interest on the Securities of such series or to enforce the performance of any provision of the Securities of such series or this
Indenture.

 

The Trustee may maintain a proceeding even if
it does not possess any of the Securities or does not produce any of them in the proceeding.

 

    20 

     

    

 

Section 6.04. Waiver of Past Defaults. Subject
to Sections 6.02, 6.07 and 9.02, the Holders of at least a majority in principal amount (or, if the Securities are Original Issue Discount
Securities, such portion of the principal as is then accelerable under Section 6.02) of the outstanding Securities of all series affected
(voting as a single class), by notice to the Trustee, may waive an existing Default or Event of Default with respect to the Securities
of such series and its consequences, except a Default in the payment of Principal of or interest on any Security as specified in clauses
(a) or (b) of Section 6.01 or in respect of a covenant or provision of this Indenture which cannot be modified or amended without the
consent of the Holder of each outstanding Security affected. Upon any such waiver, such Default shall cease to exist, and any Event of
Default with respect to the Securities of such series arising therefrom shall be deemed to have been cured, for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

 

Section 6.05. Control by Majority. Subject
to Sections 7.01 and 7.02(e), the Holders of at least a majority in aggregate principal amount (or, if any Securities are Original Issue
Discount Securities, such portion of the principal as is then accelerable under Section 6.02) of the outstanding Securities of all series
affected (voting as a single class) may direct the time, method and place of conducting any proceeding for any remedy available to the
Trustee or exercising any trust or power conferred on the Trustee with respect to the Securities of such series by this Indenture; provided,
that the Trustee may refuse to follow any direction that conflicts with law or this Indenture, that may involve the Trustee in personal
liability or that the Trustee determines in good faith may be unduly prejudicial to the rights of Holders not joining in the giving of
such direction; and provided further, that the Trustee may take any other action it deems proper that is not inconsistent with any directions
received from Holders of Securities pursuant to this Section 6.05.

 

Section 6.06. Limitation on Suits. No Holder
of any Security of any series may institute any proceeding, judicial or otherwise, with respect to this Indenture or the Securities of
such series, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless:

 

(a)       such
Holder has previously given to the Trustee written notice of a continuing Event of Default with respect to the Securities of such series;

 

(b)       the
Holders of at least 25% in aggregate principal amount of outstanding Securities of all such series affected shall have made written request
to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 

(c)       such
Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to the Trustee against any costs, liabilities or expenses
to be incurred in compliance with such request;

 

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

 

(e)       during
such 60-day period, the Holders of a majority in aggregate principal amount of the outstanding Securities of all such affected series
have not given the Trustee a direction that is inconsistent with such written request.

 

A Holder may not use this Indenture to prejudice
the rights of another Holder or to obtain a preference or priority over such other Holder.

 

Section 6.07. Rights of Holders to Receive
Payment. Notwithstanding any other provision of this Indenture, the right of any Holder of a Security to receive payment of Principal
of or interest, if any, on such Holder’s Security on or after the respective due dates expressed on such Security, or to bring suit
for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such
Holder.

 

Section 6.08. Collection Suit by Trustee. If
an Event of Default with respect to the Securities of any series in payment of Principal or interest specified in clause (a) or (b) of
Section 6.01 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the
Company for the whole amount (or such portion thereof as specified in the terms established pursuant to Section 2.03 of Original Issue
Discount Securities) of Principal of, and accrued interest remaining unpaid on, together with interest on overdue Principal of, and, to
the extent that payment of such interest is lawful, interest on overdue installments of interest on, the Securities of such series, in
each case at the rate or Yield to Maturity (in the case of Original Issue Discount Securities) specified in such Securities, and such
further amount as shall be sufficient to cover all amounts owing the Trustee under Section 7.07.

 

    21 

     

    

 

Section 6.09. Trustee May File Proofs of
Claim. The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims
of the Trustee (including any claim for amounts due the Trustee under Section 7.07) and the Holders allowed in any judicial proceedings
relative to the Company (or any other obligor on the Securities), its creditors or its property and shall be entitled and empowered to
collect and receive any moneys, securities or other property payable or deliverable upon conversion or exchange of the Securities or upon
any such claims and to distribute the same, and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar
official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that
the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it under Section
7.07. Nothing herein contained shall be deemed to empower the Trustee to authorize or consent to, or accept or adopt on behalf of any
Holder, any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof,
or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

Section 6.10. Application of Proceeds.
Any moneys collected by the Trustee pursuant to this Article in respect of the Securities of any series shall be applied in the following
order at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of Principal or interest, upon
presentation of the several Securities and coupons appertaining to such Securities in respect of which moneys have been collected and
noting thereon the payment, or issuing Securities of such series and tenor in reduced principal amounts in exchange for the presented
Securities of such series and tenor if only partially paid, or upon surrender thereof if fully paid:

 

FIRST: To the payment of all amounts
due the Trustee under Section 7.07 applicable to the Securities of such series in respect of which moneys have been collected;

 

SECOND: In case the principal of the
Securities of such series in respect of which moneys have been collected shall not have become and be then due and payable, to the payment
of interest on the Securities of such series in default in the order of the maturity of the installments of such interest, with interest
(to the extent that such interest has been collected by the Trustee) upon the overdue installments of interest at the same rate as the
rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in such Securities, such payments
to be made ratably to the persons entitled thereto, without discrimination or preference;

 

THIRD: In case the principal of the Securities
of such series in respect of which moneys have been collected shall have become and shall be then due and payable, to the payment of the
whole amount then owing and unpaid upon all the Securities of such series for Principal and interest, with interest upon the overdue Principal,
and (to the extent that such interest has been collected by the Trustee) upon overdue installments of interest at the same rate as the
rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such series;
and in case such moneys shall be insufficient to pay in full the whole amount so due and unpaid upon the Securities of such series, then
to the payment of such Principal and interest or Yield to Maturity, without preference or priority of Principal over interest or Yield
to Maturity, or of interest or Yield to Maturity over Principal, or of any installment of interest over any other installment of interest,
or of any Security of such series over any other Security of such series, ratably to the aggregate of such Principal and accrued and unpaid
interest or Yield to Maturity; and

 

FOURTH: To the payment of the remainder,
if any, to the Company or any other person lawfully entitled thereto.

 

Section 6.11. Restoration of Rights and Remedies.
If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding
has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then, and in every
such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored to their former
positions hereunder and thereafter all rights and remedies of the Company, Trustee and the Holders shall continue as though no such proceeding
had been instituted.

 

    22 

     

    

 

Section 6.12. Undertaking for Costs. In
any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as Trustee, in either case in respect to the Securities of any series, a court may require any party litigant in such suit (other
than the Trustee) to file an undertaking to pay the costs of the suit, and the court may assess reasonable costs, including reasonable
attorneys’ fees, against any party litigant (other than the Trustee) in the suit having due regard to the merits and good faith
of the claims or defenses made by the party litigant. This Section 6.12 does not apply to a suit by a Holder pursuant to Section 6.07,
a suit instituted by the Trustee or a suit by Holders of more than 10% in principal amount of the outstanding Securities of such series.

 

Section 6.13. Rights and Remedies Cumulative.
Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or wrongfully taken Securities
in Section 2.08, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of
any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other
right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right
or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section 6.14. Delay or Omission not Waiver.
No delay or omission of the Trustee or of any Holder to exercise any right or remedy accruing upon any Event of Default shall impair any
such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this
Article 6 or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the
Trustee or by the Holders, as the case may be.

 

ARTICLE 7

Trustee

 

Section 7.01. General. The duties and responsibilities
of the Trustee shall be as provided by the Trust Indenture Act and as set forth herein. Notwithstanding the foregoing, no provision of
this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance
of any of its duties hereunder, or in the exercise of any of its rights or powers, unless it receives indemnity satisfactory to it against
any loss, liability or expense. Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct
or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Article 7.

 

Section 7.02. Certain Rights of Trustee. Subject
to Trust Indenture Act Sections 315(a) through (d):

 

(a)       the
Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, Officers’ Certificate,
Opinion of Counsel (or both), statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note,
other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper
person or persons. The Trustee need not investigate any fact or matter stated in the document, but the Trustee, in its discretion, may
make such further inquiry or investigation into such facts or matters as it may see fit;

 

(b)       before
the Trustee acts or refrains from acting, it may require an Officers’ Certificate and/or an Opinion of Counsel, which shall conform
to Section 10.04 and shall cover such other matters as the Trustee may reasonably request. The Trustee shall not be liable for any action
it takes or omits to take in good faith in reliance on such certificate or opinion. Subject to Sections 7.01 and 7.02, whenever in the
administration of the trusts of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established
prior to taking or suffering or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically
prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established
by an Officers’ Certificate delivered to the Trustee, and such certificate, in the absence of negligence or bad faith on the part
of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture
upon the faith thereof;

 

(c)       the
Trustee may act through its attorneys and agents not regularly in its employ and shall not be responsible for the misconduct or negligence
of any agent or attorney appointed with due care;

 

    23 

     

    

 

(d)       any
request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate
(unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced to the Trustee
by a copy thereof certified by the Secretary or an Assistant Secretary of the Company;

 

(e)       the
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction
of any of the Holders, unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses
and liabilities that might be incurred by it in compliance with such request or direction;

 

(f)       the
Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within its rights
or powers or for any action it takes or omits to take in accordance with the direction of the Holders in accordance with Section 6.05
relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or
power conferred upon the Trustee, under this Indenture;

 

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

 

(h)       prior
to the occurrence of an Event of Default hereunder and after the curing or waiving of all Events of Default, the Trustee shall not be
bound to make any investigation into the facts or matters stated in any resolution, certificate, Officers’ Certificate, Opinion
of Counsel, Board Resolution, statement, instrument, opinion, report, notice, request, consent, order, approval, appraisal, bond, debenture,
note, coupon, security, or other paper or document unless requested in writing so to do by the Holders of not less than a majority in
aggregate principal amount of the Securities of all series affected then outstanding; provided that, if the payment within a reasonable
time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion
of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require
reasonable indemnity against such expenses or liabilities as a condition to proceeding.

 

Section 7.03. Individual Rights of Trustee.
The Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with the
Company or its Affiliates with the same rights it would have if it were not the Trustee. Any Agent may do the same with like rights. However,
the Trustee is subject to Trust Indenture Act Sections 310(b) and 311. For purposes of Trust Indenture Act Section 311(b)(4) and (6),
the following terms shall mean:

 

(a)       “cash
transaction” means any transaction in which full payment for goods or securities sold is made within seven days after delivery
of the goods or securities in currency or in checks or other orders drawn upon banks or bankers and payable upon demand; and

 

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

 

Section 7.04. Trustee’s Disclaimer. The
recitals contained herein and in the Securities (except the Trustee’s certificate of authentication) shall be taken as statements
of the Company and not of the Trustee and the Trustee assumes no responsibility for the correctness of the same. Neither the Trustee nor
any of its agents (a) makes any representation as to the validity or adequacy of this Indenture or the Securities and (b) shall be accountable
for the Company’s use or application of the proceeds from the Securities.

 

Section 7.05. Notice of Default. If any
Default with respect to the Securities of any series occurs and is continuing and if such Default is known to the actual knowledge of
a Responsible Officer with the Corporate Trust Department of the Trustee, the Trustee shall give to each Holder of Securities of such
series notice of such Default within 90 days after it occurs (a) if any Unregistered Securities of such series are then outstanding, to
the Holders thereof, by publication at least once in an Authorized Newspaper in the Borough of Manhattan, The City of New York and at
least once in an Authorized Newspaper in London and (b) to all Holders of Securities of such series in the manner and to the extent provided
in Section 313(c) of the Trust Indenture Act, unless such Default shall have been cured or waived before the mailing or publication of
such notice; provided, however, that, except in the case of a Default in the payment of the Principal of or interest on any Security,
the Trustee shall be protected in withholding such notice if the Trustee in good faith determines that the withholding of such notice
is in the interests of the Holders.

 

    24 

     

    

 

Section 7.06. Reports by Trustee to Holders.
The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required
pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. If required by Section 313(a) of the Trust
Indenture Act, the Trustee shall, within 60 days after each May 15 following the date of this Indenture, deliver to Holders a brief report,
dated as of such May 15, which complies with the provisions of such Section 313(a).

 

A copy of each such report shall, at the time
of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities are listed, with the Commission
and with the Company. The Company will promptly notify the Trustee when any Securities are listed on any stock exchange.

 

Section 7.07. Compensation and Indemnity. The
Company shall pay to the Trustee such compensation as shall be agreed upon in writing from time to time for its services. The compensation
of the Trustee shall not be limited by any law on compensation of a Trustee of an express trust. The Company shall reimburse the Trustee
and any predecessor Trustee upon request for all reasonable out-of-pocket expenses, disbursements and advances incurred or made by the
Trustee or such predecessor Trustee. Such expenses shall include the reasonable compensation and expenses of the Trustee’s or such
predecessor Trustee’s agents, counsel and other persons not regularly in their employ.

 

The Company shall indemnify the Trustee and any
predecessor Trustee for, and hold them harmless against, any loss or liability or expense incurred by them without negligence or bad faith
on their part arising out of or in connection with the acceptance or administration of this Indenture and the Securities or the issuance
of the Securities or of series thereof or the trusts hereunder and the performance of duties under this Indenture and the Securities,
including the costs and expenses of defending themselves against or investigating any claim or liability and of complying with any process
served upon them or any of their officers in connection with the exercise or performance of any of their powers or duties under this Indenture
and the Securities.

 

To secure the Company’s payment obligations
in this Section 7.07, the Trustee shall have a lien prior to the Securities on all money or property held or collected by the Trustee,
in its capacity as Trustee, except money or property held in trust to pay Principal of, and interest on particular Securities.

 

The obligations of the Company under this Section
to compensate and indemnify the Trustee and each predecessor Trustee and to pay or reimburse the Trustee and each predecessor Trustee
for expenses, disbursements and advances shall constitute additional indebtedness hereunder and shall survive the satisfaction and discharge
of this Indenture or the rejection or termination of this Indenture under bankruptcy law. Such additional indebtedness shall be a senior
claim to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the
benefit of the Holders of particular Securities or coupons, and the Securities are hereby subordinated to such senior claim. Without prejudice
to any other rights available to the Trustee under applicable law, if the Trustee renders services and incurs expenses following an Event
of Default under Section 6.01(d) or Section 6.01(e) hereof, the parties hereto and the holders by their acceptance of the Securities hereby
agree that such expenses are intended to constitute expenses of administration under any bankruptcy law.

 

Section 7.08. Replacement of Trustee. A
resignation or removal of the Trustee as Trustee with respect to the Securities of any series and appointment of a successor Trustee as
Trustee with respect to the Securities of any series shall become effective only upon the successor Trustee’s acceptance of appointment
as provided in this Section 7.08.

 

The Trustee may resign as Trustee with respect
to the Securities of any series at any time by so notifying the Company in writing. The Holders of a majority in principal amount of the
outstanding Securities of any series may remove the Trustee as Trustee with respect to the Securities of such series by so notifying the
Trustee in writing and may appoint a successor Trustee with respect thereto with the consent of the Company. The Company may remove the
Trustee as Trustee with respect to the Securities of any series if: (i) the Trustee is no longer eligible under Section 7.11 of this Indenture;
(ii) the Trustee is adjudged a bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property;
or (iv) the Trustee becomes incapable of acting.

 

    25 

     

    

 

If the Trustee resigns or is removed as Trustee
with respect to the Securities of any series, or if a vacancy exists in the office of Trustee with respect to the Securities of any series
for any reason, the Company shall promptly appoint a successor Trustee with respect thereto. Within one year after the successor Trustee
takes office, the Holders of a majority in principal amount of the outstanding Securities of such series may appoint a successor Trustee
in respect of such Securities to replace the successor Trustee appointed by the Company. If the successor Trustee with respect to the
Securities of any series does not deliver its written acceptance required by Section 7.09 within 30 days after the retiring Trustee resigns
or is removed, the retiring Trustee, the Company or the Holders of a majority in principal amount of the outstanding Securities of such
series may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect thereto.

 

The Company shall give notice of any resignation
and any removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee in respect of
the Securities of such series to all Holders of Securities of such series. Each notice shall include the name of the successor Trustee
and the address of its Corporate Trust Office.

 

Notwithstanding replacement of the Trustee with
respect to the Securities of any series pursuant to this Section 7.08 and Section 7.09, the Company’s obligations under Section
7.07 shall continue for the benefit of the retiring Trustee.

 

Section 7.09. Acceptance of Appointment by
Successor. In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee
so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment,
and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further
act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request
of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges and subject to the lien provided for
in Section 7.07, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring
Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder.

 

In case of the appointment hereunder of a successor
Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee
with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor
Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm
to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect
to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts
and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring
shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing
herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall
be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee;
and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective
to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with
all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly
assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to
the Securities of that or those series to which the appointment of such successor Trustee relates.

 

Upon request of any such successor Trustee, the
Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such
rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be.

 

    26 

     

    

 

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

 

Section 7.10. Successor Trustee By Merger,
Etc. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business
to, another corporation or national banking association, the resulting, surviving or transferee corporation or national banking association
without any further act shall be the successor Trustee with the same effect as if the successor Trustee had been named as the Trustee
herein.

 

Section 7.11. Eligibility. This Indenture
shall always have a Trustee who satisfies the requirements of Trust Indenture Act Section 310(a). The Trustee shall have a combined capital
and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition.

 

Section 7.12. Money Held in Trust. The
Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company. Money
held in trust by the Trustee need not be segregated from other funds except to the extent required by law and except for money held in
trust under Article 8 of this Indenture.

 

ARTICLE 8

Satisfaction
and Discharge of Indenture; Unclaimed Moneys

 

Section 8.01. Satisfaction and Discharge of
Indenture. If at any time (a) the Company shall have paid or caused to be paid the Principal of and interest on all the Securities
of any series outstanding hereunder (other than Securities of such series which have been destroyed, lost or stolen and which have been
replaced or paid as provided in Section 2.08) as and when the same shall have become due and payable, or (b) the Company shall have delivered
to the Trustee for cancellation all Securities of any series theretofore authenticated (other than any Securities of such series which
shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section 2.08) or (c) (i) all the securities
of such series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become
due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for
the giving of notice of redemption, and (ii) the Company shall have irrevocably deposited or caused to be deposited with the Trustee as
trust funds the entire amount in cash (other than moneys repaid by the Trustee or any paying agent to the Company in accordance with Section
8.04) or U.S. Government Obligations, maturing as to principal and interest in such amounts and at such times as will insure (without
consideration of the reinvestment of such interest) the availability of cash, or a combination thereof, sufficient to pay at maturity
or upon redemption all Securities of such series (other than any Securities of such series which shall have been destroyed, lost or stolen
and which shall have been replaced or paid as provided in Section 2.08) not theretofore delivered to the Trustee for cancellation, including
principal and interest due or to become due on or prior to such date of maturity or redemption as the case may be, and if, in any such
case, the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to Securities of such
series, then this Indenture shall cease to be of further effect with respect to Securities of such series (except as to (i) rights of
registration of transfer and exchange of securities of such series, and the Company’s right of optional redemption, if any, (ii)
substitution of mutilated, defaced, destroyed, lost or stolen Securities, (iii) rights of holders to receive payments of principal thereof
and interest thereon, upon the original stated due dates therefor (but not upon acceleration) and remaining rights of the holders to receive
mandatory sinking fund payments, if any, (iv) the rights, obligations and immunities of the Trustee hereunder and (v) the rights of the
Securityholders of such series as beneficiaries hereof with respect to the property so deposited with the Trustee payable to all or any
of them), and the Trustee, on demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel and at the
cost and expense of the Company, shall execute proper instruments acknowledging such satisfaction of and discharging this Indenture with
respect to such series; provided, that the rights of Holders of the Securities to receive amounts in respect of Principal of and interest
on the Securities held by them shall not be delayed longer than required by then-applicable mandatory rules or policies of any securities
exchange upon which the Securities are listed. The Company agrees to reimburse the Trustee for any costs or expenses thereafter reasonably
and properly incurred and to compensate the Trustee for any services thereafter reasonably and properly rendered by the Trustee in connection
with this Indenture or the Securities of such series.

 

    27 

     

    

 

Section 8.02. Application by Trustee of Funds
Deposited for Payment of Securities. Subject to Section 8.04, all moneys (including U.S. Government Obligations and the proceeds thereof)
deposited with the Trustee pursuant to Section 8.01, Section 8.05 or Section 8.06 shall be held in trust and applied by it to the payment,
either directly or through any paying agent to the Holders of the particular Securities of such series for the payment or redemption of
which such moneys have been deposited with the Trustee, of all sums due and to become due thereon for Principal and interest; but such
money need not be segregated from other funds except to the extent required by law.

 

Section 8.03. Repayment of Moneys Held by Paying
Agent. In connection with the satisfaction and discharge of this Indenture with respect to Securities of any series, all moneys then
held by any paying agent under the provisions of this Indenture with respect to such series of Securities shall, upon demand of the Company,
be repaid to it or paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such
moneys.

 

Section 8.04. Return of Moneys Held by Trustee
and Paying Agent Unclaimed for Two Years. Any moneys deposited with or paid to the Trustee or any paying agent for the payment of
the Principal of or interest on any Security of any series and not applied but remaining unclaimed for two years after the date upon which
such Principal or interest shall have become due and payable, shall, upon the written request of the Company and unless otherwise required
by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company by the Trustee for such
series or such paying agent, and the Holder of the Security of such series shall, unless otherwise required by mandatory provisions of
applicable escheat or abandoned or unclaimed property laws, thereafter look only to the Company for any payment which such Holder may
be entitled to collect, and all liability of the Trustee or any paying agent with respect to such moneys shall thereupon cease.

 

Section 8.05. Defeasance and Discharge of Indenture.
The Company shall be deemed to have paid and shall be discharged from any and all obligations in respect of the Securities of any
series, on the 123rd day after the deposit referred to in clause (i) hereof has been made, and the provisions of this Indenture shall
no longer be in effect with respect to the Securities of such series (and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging the same), except as to: (a) rights of registration of transfer and exchange, and the Company’s right
of optional redemption, (b) substitution of apparently mutilated, defaced, destroyed, lost or stolen Securities, (c) rights of holders
to receive payments of principal thereof and interest thereon, upon the original stated due dates therefor (but not upon acceleration),
(d) the rights, obligations and immunities of the Trustee hereunder and (e) the rights of the Securityholders of such series as beneficiaries
hereof with respect to the property so deposited with the Trustee payable to all or any of them; provided that the following conditions
shall have been satisfied:

 

(i)       with
reference to this provision the Company has deposited or caused to be irrevocably deposited with the Trustee (or another qualifying trustee
satisfying the requirements of Section 7.11) as trust funds in trust, specifically pledged as security for, and dedicated solely to, the
benefit of the Holders of the Securities of such series, (A) money in an amount, or (B) U.S. Government Obligations which through the
payment of interest and principal in respect thereof in accordance with their terms will provide not later than one day before the due
date of any payment referred to in subclause (x) or (y) of this clause (i) money in an amount, or (C) a combination thereof, sufficient,
in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered
to the Trustee, to pay and discharge without consideration of the reinvestment of such interest and after payment of all federal, state
and local taxes or other charges and assessments in respect thereof payable by the Trustee (x) the principal of, premium, if any, and
each installment of interest on the outstanding Securities of such series on the due dates thereof and (y) any mandatory sinking fund
payments or analogous payments applicable to the Securities of such series on the day on which such payments are due and payable in accordance
with the terms of Securities of such series and the Indenture with respect to the Securities of such series;

 

(ii)       the
Company has delivered to the Trustee (A) either (x) an Opinion of Counsel to the effect that Holders of Securities of such series will
not recognize income, gain or loss for federal income tax purposes as a result of the Company’s exercise of its option under this
Section 8.05 and will be subject to federal income tax on the same amount and in the same manner and at the same times as would have been
the case if such deposit, defeasance and discharge had not occurred, which Opinion of Counsel must be based upon a ruling of the Internal
Revenue Service to the same effect or a change in applicable federal income tax law or related treasury regulations after the date of
this Indenture or (y) a ruling directed to the Trustee received from the Internal Revenue Service to the same effect as the aforementioned
Opinion of Counsel and (B) an Opinion of Counsel to the effect that the creation of the defeasance trust does not violate the Investment
Company Act of 1940, as amended, and after the passage of 123 days following the deposit, the trust fund will not be subject to the effect
of Section 547 of the U.S. Bankruptcy Code or Section 15 of the New York Debtor and Creditor Law;

 

    28 

     

    

 

(iii)       immediately
after giving effect to such deposit on a pro forma basis, no Event of Default, or event that after the giving of notice or lapse of time
or both would become an Event of Default, shall have occurred and be continuing on the date of such deposit or during the period ending
on the 123rd day after the date of such deposit, and such deposit shall not result in a breach or violation of, or constitute a default
under, any other agreement or instrument to which the Company is a party or by which the Company is bound;

 

(iv)       if
at such time the Securities of such series are listed on a national securities exchange, the Company has delivered to the Trustee an Opinion
of Counsel to the effect that the Securities of such series will not be delisted as a result of such deposit, defeasance and discharge;

 

(v)       the
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent to the defeasance and discharge under this Section have been complied with; and

 

(vi)        if
the Securities of such series are to be redeemed prior to the final maturity thereof (other than from mandatory sinking fund payments
or analogous payments), notice of such redemption shall have been duly given pursuant to this Indenture or provision therefor satisfactory
to the Trustee shall have been made.

 

Section 8.06. Defeasance of Certain Obligations.
The Company may omit to comply with any term, provision or condition set forth in, and this Indenture will no longer be in effect
with respect to, any covenant established pursuant to Section 2.03(r) and clause (c) (with respect to any covenants established pursuant
to Section 2.03(r)) and clause (f) of Section 6.01 shall be deemed not to be an Event of Default, if

 

(a)       with
reference to this Section 8.06, the Company has deposited or caused to be irrevocably deposited with the Trustee (or another qualifying
trustee satisfying the requirements of Section 7.11) as trust funds in trust, specifically pledged as security for, and dedicated solely
to, the benefit of the Holders of the Securities of such series and the Indenture with respect to the Securities of such series, (i) money
in an amount or (ii) U.S. Government Obligations which through the payment of interest and principal in respect thereof in accordance
with their terms will provide not later than one day before the due dates thereof or earlier redemption (irrevocably provided for under
agreements satisfactory to the Trustee), as the case may be, of any payment referred to in subclause (x) or (y) of this clause (a) money
in an amount, or (iii) a combination thereof, sufficient, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay and discharge without consideration of the reinvestment
of such interest and after payment of all federal, state and local taxes or other charges and assessments in respect thereof payable by
the Trustee (x) the principal of, premium, if any, and each installment of interest on the outstanding Securities on the due date thereof
or earlier redemption (irrevocably provided for under arrangements satisfactory to the Trustee), as the case may be, and (y) any mandatory
sinking fund payments or analogous payments applicable to the Securities of such series and the Indenture with respect to the Securities
of such series on the day on which such payments are due and payable in accordance with the terms of the Indenture and of Securities of
such series and the Indenture with respect to the Securities of such series;

 

(b)       the
Company has delivered to the Trustee (i) an Opinion of Counsel to the effect that Holders of Securities of such series will not recognize
income, gain or loss for federal income tax purposes as a result of the Company’s exercise of its option under this Section 8.06
and will be subject to federal income tax on the same amount and in the same manner and at the same times as would have been the case
if such deposit and defeasance had not occurred and (ii) an Opinion of Counsel to the effect that the creation of the defeasance trust
does not violate the Investment Company Act of 1940, as amended, and after the passage of 123 days following the deposit, the trust fund
will not be subject to the effect of Section 547 of the U.S. Bankruptcy Code or Section 15 of the New York Debtor and Creditor Law;

 

(c)       immediately
after giving effect to such deposit on a pro forma basis, no Event of Default, or event that after the giving of notice or lapse of time
or both would become an Event of Default, shall have occurred and be continuing on the date of such deposit or during the period ending
on the 123rd day after the date of such deposit, and such deposit shall not result in a breach or violation of, or constitute a default
under, any other agreement or instrument to which the Company is a party or by which the Company is bound;

 

    29 

     

    

 

(d)       if
at such time the Securities of such series are listed on a national securities exchange, the Company has delivered to the Trustee an Opinion
of Counsel to the effect that the Securities of such series will not be delisted as a result of such deposit, defeasance and discharge;
and

 

(e)       the
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent to the defeasance under this Section have been complied with.

 

Section 8.07. Reinstatement. If the Trustee
or paying agent is unable to apply any monies or U.S. Government Obligations in accordance with Article 8 by reason of any legal proceeding
or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application,
the Company’s obligations under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred
pursuant to this Article until such time as the Trustee or paying agent is permitted to apply all such monies or U.S. Government Obligations
in accordance with Article 8; provided, however, that if the Company has made any payment of Principal of or interest on any Securities
because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive
such payment from the monies or U.S. Government Obligations held by the Trustee or paying agent.

 

Section 8.08. Indemnity. The Company shall
pay and indemnify the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.08 and Section 8.02, the “Trustee”)
against any tax, fee or other charge, imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 8.01,
8.05 or 8.06 or the principal or interest received in respect thereof other than any such tax, fee or other charge which by law is for
the account of the Holders of the Securities and any coupons appertaining thereto.

 

Section 8.09. Excess Funds. Anything in
this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon request of the
Company, any money or U.S. Government Obligations (or other property and any proceeds therefrom) held by it as provided in Section 8.01,
8.05 or 8.06 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect a discharge
or defeasance, as applicable, in accordance with this Article 8.

 

Section 8.10. Qualifying Trustee. Any trustee
appointed pursuant to Section 8.05 or 8.06 for the purpose of holding money or U.S. Government Obligations deposited pursuant to such
Sections shall be appointed under an agreement in form acceptable to the Trustee and shall provide to the Trustee a certificate, upon
which certificate the Trustee shall be entitled to conclusively rely, that all conditions precedent provided for herein to the related
defeasance have been complied with. In no event shall the Trustee be liable for any acts or omissions of said trustee.

 

ARTICLE 9

Amendments,
Supplements and Waivers

 

Section 9.01. Without Consent of Holders. The
Company and the Trustee may amend or supplement this Indenture or the Securities of any series without notice to or the consent of any
Holder:

 

(a)       to
cure any ambiguity, defect or inconsistency in this Indenture; provided that such amendments or supplements shall not materially
and adversely affect the interests of the Holders;

 

(b)       to
comply with Article 5;

 

(c)       to
comply with any requirements of the Commission in connection with the qualification of this Indenture under the Trust Indenture Act;

 

(d)       to
evidence and provide for the acceptance of appointment hereunder with respect to the Securities of any or all series by a successor Trustee
and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 7.09;

 

    30 

     

    

 

(e)       to
establish the form or forms or terms of Securities of any series or of the coupons appertaining to such Securities as permitted by Section
2.03;

 

(f)       to
provide for uncertificated or Unregistered Securities and to make all appropriate changes for such purpose; and

 

(g)       to
make any change that does not materially and adversely affect the rights of any Holder.

 

Section 9.02. With Consent of Holders. Subject
to Sections 6.04 and 6.07, without prior notice to any Holders, the Company and the Trustee may amend this Indenture and the Securities
of any series with the written consent of the Holders of a majority in principal amount of the outstanding Securities of all series affected
by such amendment (all such series voting as a separate class), and the Holders of a majority in principal amount of the outstanding Securities
of all series affected thereby (all such series voting as a separate class) by written notice to the Trustee may waive future compliance
by the Company with any provision of this Indenture or the Securities of such series.

 

Notwithstanding the provisions of this Section
9.02, without the consent of each Holder affected thereby, an amendment or waiver, including a waiver pursuant to Section 6.04, may not:

 

(a)       change
the stated maturity of the Principal of, or any sinking fund obligation or any installment of interest on, such Holder’s Security;

 

(b)       reduce
the Principal amount thereof or the rate of interest thereon (including any amount in respect of original issue discount);

 

(c)       reduce
the above stated percentage of outstanding Securities the consent of whose holders is necessary to modify or amend the Indenture with
respect to the Securities of the relevant series; and

 

(d)       reduce
the percentage in principal amount of outstanding Securities of the relevant series the consent of whose Holders is required for any supplemental
indenture or for any waiver of compliance with certain provisions of this Indenture or certain Defaults and their consequences provided
for in this Indenture.

 

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

 

It shall not be necessary for the consent of any
Holder under this Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient
if such consent approves the substance thereof.

 

After an amendment, supplement or waiver under
this Section 9.02 becomes effective, the Company shall give to the Holders affected thereby a notice briefly describing the amendment,
supplement or waiver. The Company will mail supplemental indentures to Holders upon request. Any failure of the Company to mail such notice,
or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver.

 

Section 9.03. Revocation and Effect of Consent.
Until an amendment or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every subsequent
Holder of a Security or portion of a Security that evidences the same debt as the Security of the consenting Holder, even if notation
of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to its Security or
portion of its Security. Such revocation shall be effective only if the Trustee receives the notice of revocation before the date the
amendment, supplement or waiver becomes effective. An amendment, supplement or waiver shall become effective with respect to any Securities
affected thereby on receipt by the Trustee of written consents from the requisite Holders of outstanding Securities affected thereby.

 

    31 

     

    

 

The Company may, but shall not be obligated to,
fix a record date (which may be not less than five nor more than 60 days prior to the solicitation of consents) for the purpose of determining
the Holders of the Securities of any series affected entitled to consent to any amendment, supplement or waiver. If a record date is fixed,
then, notwithstanding the immediately preceding paragraph, those Persons who were such Holders at such record date (or their duly designated
proxies) and only those Persons shall be entitled to consent to such amendment, supplement or waiver or to revoke any consent previously
given, whether or not such Persons continue to be such Holders after such record date. No such consent shall be valid or effective for
more than 90 days after such record date.

 

After an amendment, supplement or waiver becomes
effective with respect to the Securities of any series affected thereby, it shall bind every Holder of such Securities unless it is of
the type described in any of clauses (a) through (d) of Section 9.02. In case of an amendment or waiver of the type described in clauses
(a) through (d) of Section 9.02, the amendment or waiver shall bind each such Holder who has consented to it and every subsequent Holder
of a Security that evidences the same indebtedness as the Security of the consenting Holder.

 

Section 9.04. Notation on or Exchange of Securities.
If an amendment, supplement or waiver changes the terms of any Security, the Trustee may require the Holder thereof to deliver it
to the Trustee. The Trustee may place an appropriate notation on the Security about the changed terms and return it to the Holder and
the Trustee may place an appropriate notation on any Security of such series thereafter authenticated. Alternatively, if the Company or
the Trustee so determines, the Company in exchange for the Security shall issue and the Trustee shall authenticate a new Security of the
same series and tenor that reflects the changed terms.

 

Section 9.05. Trustee to Sign Amendments, Etc.
The Trustee shall be entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel stating that the execution
of any amendment, supplement or waiver authorized pursuant to this Article 9 is authorized or permitted by this Indenture, stating that
all requisite consents have been obtained or that no consents are required and stating that such supplemental indenture constitutes the
legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, subject to customary
exceptions. The Trustee may, but shall not be obligated to, execute any such amendment, supplement or waiver that affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise.

 

Section 9.06. Conformity with Trust Indenture
Act. Every supplemental indenture executed pursuant to this Article 9 shall conform to the requirements of the Trust Indenture Act
as then in effect.

 

ARTICLE 10

Miscellaneous

 

Section 10.01. Trust Indenture Act of 1939.
This Indenture shall incorporate and be governed by the provisions of the Trust Indenture Act that are required to be part of and
to govern indentures qualified under the Trust Indenture Act.

 

Section 10.02. Notices. Any notice or communication
shall be sufficiently given if written and (a) if delivered in person when received or (b) if mailed by first class mail 5 days after
mailing, or (c) as between the Company and the Trustee if sent by facsimile transmission, when transmission is confirmed, in each case
addressed as follows:

 

if to the Company:

 

Charles River Laboratories International, Inc.

251 Ballardvale Street

Wilmington, MA 01887

Telecopy: (978) 988-5665

Attention: General Counsel

 

if to the Trustee:

 

U.S. Bank National Association

[Address]

Telecopy:

Attention:

 

The Company or the Trustee by written notice to
the other may designate additional or different addresses for subsequent notices or communications.

 

    32 

     

    

 

Any notice or communication shall be sufficiently
given to Holders of any Unregistered Securities, by publication at least once in an Authorized Newspaper in The City of New York, or with
respect to any Security the interest on which is based on the offered quotations in the interbank Eurodollar market for dollar deposits
at least once in an Authorized Newspaper in London, and by mailing to the Holders thereof who have filed their names and addresses with
the Trustee pursuant to Section 313(c)(2) of the Trust Indenture Act at such addresses as were so furnished to the Trustee and to Holders
of Registered Securities by mailing to such Holders at their addresses as they shall appear on the Security Register. Notice mailed shall
be sufficiently given if so mailed within the time prescribed. Copies of any such communication or notice to a Holder shall also be mailed
to the Trustee and each Agent at the same time.

 

Failure to mail a notice or communication to a
Holder or any defect in it shall not affect its sufficiency with respect to other Holders. Except as otherwise provided in this Indenture,
if a notice or communication is mailed in the manner provided in this Section 10.02, it is duly given, whether or not the addressee receives
it.

 

Where this Indenture provides for notice in any
manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not
be a condition precedent to the validity of any action taken in reliance upon such waiver.

 

In case it shall be impracticable to give notice
as herein contemplated, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification
for every purpose hereunder.

 

Section 10.03. Certificate and Opinion as to
Conditions Precedent. Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company
shall furnish to the Trustee:

 

(a)       an
Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture
relating to the proposed action have been complied with; and

 

(b)       an
Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

 

Section 10.04. Statements Required in Certificate
or Opinion. Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other
than the certificate required by Section 4.04) shall include:

 

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

 

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

 

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

 

(d)       a
statement as to whether or not, in the opinion of each such person, such condition or covenant has been complied with; provided, however,
that, with respect to matters of fact, an Opinion of Counsel may rely on an Officers’ Certificate or certificates of public officials.

 

Section 10.05. Evidence of Ownership. The
Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Holder of any Unregistered Security and the Holder
of any coupon as the absolute owner of such Unregistered Security or coupon (whether or not such Unregistered Security or coupon shall
be overdue) for the purpose of receiving payment thereof or on account thereof and for all other purposes, and neither the Company, the
Trustee, nor any agent of the Company or the Trustee shall be affected by any notice to the contrary. The fact of the holding by any Holder
of an Unregistered Security, and the identifying number of such Security and the date of his holding the same, may be proved by the production
of such Security or by a certificate executed by any trust company, bank, banker or recognized securities dealer wherever situated satisfactory
to the Trustee, if such certificate shall be deemed by the Trustee to be satisfactory. Each such certificate shall be dated and shall
state that on the date thereof a Security bearing a specified identifying number was deposited with or exhibited to such trust company,
bank, banker or recognized securities dealer by the person named in such certificate. Any such certificate may be issued in respect of
one or more Unregistered Securities specified therein. The holding by the person named in any such certificate of any Unregistered Securities
specified therein shall be presumed to continue for a period of one year from the date of such certificate unless at the time of any determination
of such holding (1) another certificate bearing a later date issued in respect of the same Securities shall be produced or (2) the Security
specified in such certificate shall be produced by some other Person, or (3) the Security specified in such certificate shall have ceased
to be outstanding. Subject to Article 7, the fact and date of the execution of any such instrument and the amount and numbers of Securities
held by the Person so executing such instrument may also be proven in accordance with such reasonable rules and regulations as may be
prescribed by the Trustee or in any other manner which the Trustee may deem sufficient.

 

    33 

     

    

 

The Company, the Trustee and any agent of the
Company or the Trustee may deem and treat the person in whose name any Registered Security shall be registered upon the Security Register
for such series as the absolute owner of such Registered Security (whether or not such Registered Security shall be overdue and notwithstanding
any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the Principal of and, subject
to the provisions of this Indenture, interest on such Registered Security and for all other purposes; and neither the Company nor the
Trustee nor any agent of the Company or the Trustee shall be affected by any notice to the contrary.

 

Section 10.06. Rules by Trustee, Paying Agent
or Registrar. The Trustee may make reasonable rules for action by or at a meeting of Holders. The Paying Agent or Registrar may make
reasonable rules for its functions.

 

Section 10.07. Payment Date Other Than a Business
Day. Except as otherwise provided with respect to a series of Securities, if any date for payment of Principal or interest on any
Security shall not be a Business Day at any place of payment, then payment of Principal of or interest on such Security, as the case may
be, need not be made on such date, but may be made on the next succeeding Business Day at any place of payment with the same force and
effect as if made on such date and no interest shall accrue in respect of such payment for the period from and after such date.

 

Section 10.08. Governing Law. The laws
of the State of New York shall govern this Indenture and the Securities.

 

Section 10.09. No Adverse Interpretation of
Other Agreements. This Indenture may not be used to interpret another indenture or loan or debt agreement of the Company or any Subsidiary
of the Company. Any such indenture or agreement may not be used to interpret this Indenture.

 

Section 10.10. Successors. All agreements
of the Company in this Indenture and the Securities shall bind its successors. All agreements of the Trustee in this Indenture shall bind
its successors.

 

Section 10.11. Duplicate Originals. The
parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the
same agreement.

 

Section 10.12. Separability. In case any
provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 10.13. Table of Contents, Headings,
Etc. The Table of Contents and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference
only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms and provisions hereof.

 

Section 10.14. Incorporators, Stockholders,
Officers and Directors of Company Exempt from Individual Liability. No recourse under or upon any obligation, covenant or agreement
contained in this Indenture or any indenture supplemental hereto, or in any Security or any coupons appertaining thereto, or because of
any indebtedness evidenced thereby, shall be had against any incorporator, as such or against any past, present or future stockholder,
officer, director or employee, as such, of the Company or of any successor, either directly or through the Company or any successor, under
any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or
otherwise, all such liability being expressly waived and released by the acceptance of the Securities and the coupons appertaining thereto
by the holders thereof and as part of the consideration for the issue of the Securities and the coupons appertaining thereto.

 

    34 

     

    

 

Section 10.15. Judgment Currency. The Company
agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in
any court it is necessary to convert the sum due in respect of the Principal of or interest on the Securities of any series (the “Required
Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange
used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required
Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a Business Day,
then, to the extent permitted by applicable law, the rate of exchange used shall be the rate at which in accordance with normal banking
procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the Business Day preceding
the day on which final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required
Currency (i) shall not be discharged or satisfied by any tender, or any recovery pursuant to any judgment (whether or not entered in accordance
with subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result
in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments,
(ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount,
if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable and (iii)
shall not be affected by judgment being obtained for any other sum due under this Indenture.

 

    35 

     

    

 

SIGNATURES

 

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

 

	(SEAL)

Attest:	 	CHARLES RIVER LABORATORIES INTERNATIONAL, INC.

as the Company
	 	 	 
	 	 	 
	 	 	 	By:	 
	 	 	 	 	Name:	 
	 	 	 	 	Title:	 

 

 

 

	(SEAL)

Attest:	 	U.S. BANK NATIONAL ASSOCIATION,

as the Trustee
	 	 	 
	 	 	 
	 	 	 	By:	 
	 	 	 	 	Name:	 
	 	 	 	 	Title:	 

 

 

     

     

    
 

	STATE OF	)	 
	 	:	ss
	COUNTY OF 	)	 

 

BEFORE ME, the undersigned authority, on this
__ day of ____________, 20___, personally appeared ____________, ____________ of Charles River Laboratories International, Inc., a Delaware
corporation, known to me (or proved to me by introduction upon the oath of a person known to me) to be the person and officer whose name
is subscribed to the foregoing instrument, and acknowledged to me that he/she executed the same as the act of such corporation for the
purposes and consideration herein expressed and in the capacity therein stated.

 

GIVEN UNDER MY HAND AND SEAL THIS __ DAY OF ______,
20__.

 

(SEAL)

 

	 	 
	 	 
	 	NOTARY PUBLIC, STATE OF
	 	Print Name:
	 	Commission Expires:

 

	STATE OF	)	 
	 	:	ss
	COUNTY OF 	)	 

 

BEFORE ME, the undersigned authority, on this
____ day of __________, 20__, personally appeared _________________, _______________ of , a national banking association, known to me
(or proved to me by introduction upon the oath of a person known to me) to be the person and officer whose name is subscribed to the foregoing
instrument, and acknowledged to me that he/she executed the same as the act of such association for the purposes and consideration herein
expressed and in the capacity therein stated.

 

GIVEN UNDER MY HAND AND SEAL THIS ___ DAY OF ______,
20__.

 

(SEAL)

 

	 	 
	 	 
	 	NOTARY PUBLIC, STATE OF
	 	Print Name:
	 	Commission Expires:Exhibit 4.2

 

 

CHARLES RIVER LABORATORIES INTERNATIONAL,
INC.

as the Company

and

U.S. BANK NATIONAL ASSOCIATION

as Trustee

Subordinated Indenture

Dated as of ____________ __, 20__

 

 

  

  

  

 

 

 

 

 

 

  

  

  

  

     

     

    

 

table
of contents

________________ 

 

	 	 	Page
	ARTICLE 1
	DEFINITIONS AND INCORPORATION BY REFERENCE
	Section 1.01.	Definitions.	1
	Section 1.02.	Other Definitions	5
	Section 1.03.	Incorporation by Reference of Trust Indenture Act	6
	Section 1.04.	Rules of Construction	6
	ARTICLE 2
	THE SECURITIES
	Section 2.01.	Form and Dating	6
	Section 2.02.	Execution And Authentication	6
	Section 2.03.	Amount Unlimited; Issuable in Series	8
	Section 2.04.	Denomination and Date of Securities; Payments of Interest	10
	Section 2.05.	Registrar and Paying Agent; Agents Generally	10
	Section 2.06.	Paying Agent to Hold Money in Trust	10
	Section 2.07.	Transfer and Exchange	11
	Section 2.08.	Replacement Securities	13
	Section 2.09.	Outstanding Securities	14
	Section 2.10.	Temporary Securities	14
	Section 2.11.	Cancellation	14
	Section 2.12.	CUSIP Numbers	15
	Section 2.13.	Defaulted Interest	15
	Section 2.14.	Series May Include Tranches	15
	ARTICLE 3
	REDEMPTION
	Section 3.01.	Applicability of Article	15
	Section 3.02.	Notice of Redemption; Partial Redemptions	15
	Section 3.03.	Payment Of Securities Called For Redemption	16
	Section 3.04.	Exclusion of Certain Securities from Eligibility for Selection for Redemption	17
	Section 3.05.	Mandatory and Optional Sinking Funds	17
	ARTICLE 4
	COVENANTS
	Section 4.01.	Payment of Securities	19
	Section 4.02.	Maintenance of Office or Agency	19
	Section 4.03.	Securityholders’ Lists	20
	Section 4.04.	Certificate to Trustee	20
	Section 4.05.	Reports by the Company	20
	Section 4.06.	Additional Amounts	20
	ARTICLE 5
	SUCCESSOR CORPORATION
	Section 5.01.	When Company May Merge, Etc.	21
	Section 5.02.	Successor Substituted	21

 

    i 

     

    

 

	ARTICLE 6
	DEFAULT AND REMEDIES
	Section 6.01.	Events of Default	21
	Section 6.02.	Acceleration	22
	Section 6.03.	Other Remedies	23
	Section 6.04.	Waiver of Past Defaults	23
	Section 6.05.	Control by Majority	23
	Section 6.06.	Limitation on Suits	23
	Section 6.07.	Rights of Holders to Receive Payment	24
	Section 6.08.	Collection Suit by Trustee	24
	Section 6.09.	Trustee May File Proofs of Claim	24
	Section 6.10.	Application of Proceeds	24
	Section 6.11.	Restoration of Rights and Remedies	25
	Section 6.12.	Undertaking for Costs	25
	Section 6.13.	Rights and Remedies Cumulative	25
	Section 6.14.	Delay or Omission not Waiver	25
	ARTICLE 7
	TRUSTEE
	Section 7.01.	General	26
	Section 7.02.	Certain Rights of Trustee	26
	Section 7.03.	Individual Rights of Trustee	27
	Section 7.04.	Trustee’s Disclaimer	27
	Section 7.05.	Notice of Default	27
	Section 7.06.	Reports by Trustee to Holders	27
	Section 7.07.	Compensation and Indemnity	28
	Section 7.08.	Replacement of Trustee	28
	Section 7.09.	Acceptance of Appointment by Successor	29
	Section 7.10.	Successor Trustee By Merger, Etc.	29
	Section 7.11.	Eligibility	30
	Section 7.12.	Money Held in Trust	30
	ARTICLE 8
	SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS
	Section 8.01.	Satisfaction and Discharge of Indenture	30
	Section 8.02.	Application by Trustee of Funds Deposited for Payment of Securities	30
	Section 8.03.	Repayment of Moneys Held by Paying Agent	31
	Section 8.04.	Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years	31
	Section 8.05.	Defeasance and Discharge of Indenture	31
	Section 8.06.	Defeasance of Certain Obligations	32
	Section 8.07.	Reinstatement	33
	Section 8.08.	Indemnity.	33
	Section 8.09.	Excess Funds.	33
	Section 8.10.	Qualifying Trustee.	33
	ARTICLE 9
	AMENDMENTS, SUPPLEMENTS AND WAIVERS
	Section 9.01.	Without Consent of Holders	33
	Section 9.02.	With Consent of Holders	34
	Section 9.03.	Revocation and Effect of Consent	35
	Section 9.04.	Notation on or Exchange of Securities	35
	Section 9.05.	Trustee to Sign Amendments, Etc.	35
	Section 9.06.	Conformity with Trust Indenture Act	35

 

    ii 

     

    

 

	ARTICLE 10
	MISCELLANEOUS
	Section 10.01.	Trust Indenture Act of 1939	35
	Section 10.02.	Notices	36
	Section 10.03.	Certificate and Opinion as to Conditions Precedent	36
	Section 10.04.	Statements Required in Certificate or Opinion	36
	Section 10.05.	Evidence of Ownership	37
	Section 10.06.	Rules by Trustee, Paying Agent or Registrar	37
	Section 10.07.	Payment Date Other Than a Business Day	37
	Section 10.08.	Governing Law	37
	Section 10.09.	No Adverse Interpretation of Other Agreements	38
	Section 10.10.	Successors	38
	Section 10.11.	Duplicate Originals	38
	Section 10.12.	Separability	38
	Section 10.13.	Table of Contents, Headings, Etc.	38
	Section 10.14.	Incorporators, Stockholders, Officers and Directors of Company Exempt from Individual Liability	38
	Section 10.15.	Judgment Currency	38
	ARTICLE 11
	SUBORDINATION OF SECURITIES
	Section 11.01.	Agreement to Subordinate	38
	Section 11.02.	Payments to Securityholders	39
	Section 11.03.	Subrogation of Securities	40
	Section 11.04.	Authorization by Securityholders	40
	Section 11.05.	Notice to Trustee	41
	Section 11.06.	Trustee’s Relation to Senior Indebtedness	41
	Section 11.07.	No Impairment of Subordination	42

 

SIGNATURES

 

    iii 

     

    

 

SUBORDINATED INDENTURE, dated as of ______ __,
20__, between Charles River Laboratories International, Inc., a Delaware corporation, as the Company, and U.S. Bank National Association,
a national banking association, as Trustee.

 

RECITALS OF THE COMPANY

 

WHEREAS, the Company has duly authorized the issue
from time to time of its subordinated debentures, notes or other evidences of indebtedness to be issued in one or more series (the “Securities”)
up to such principal amount or amounts as may from time to time be authorized in accordance with the terms of this Indenture and to provide,
among other things, for the authentication, delivery and administration thereof, the Company has duly authorized the execution and delivery
of this Indenture; and

 

WHEREAS, all things necessary to make this Indenture
a valid indenture and agreement according to its terms have been done;

 

NOW, THEREFORE:

 

In consideration of the premises and the purchases
of the Securities by the holders thereof, the Company and the Trustee mutually covenant and agree for the equal and proportionate benefit
of the respective holders from time to time of the Securities or of any and all series thereof and of the coupons, if any, appertaining
thereto as follows:

 

ARTICLE 1

Definitions
and Incorporation by Reference

 

Section 1.01. Definitions.

 

“Affiliate” of any Person means
any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such Person. For
the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling”, “controlled
by” and “under common control with”) when used with respect to any Person means the possession, directly or indirectly,
of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities,
by contract or otherwise.

 

“Agent” means any Registrar,
Paying Agent, transfer agent or Authenticating Agent.

 

“Authorized Newspaper” means
a newspaper (which, in the case of The City of New York, will, if practicable, be The Wall Street Journal (Eastern Edition) and in the
case of London, will, if practicable, be the Financial Times (London Edition) and published in an official language of the country of
publication customarily published at least once a day for at least five days in each calendar week and of general circulation in The City
of New York or London, as applicable. If it shall be impractical in the opinion of the Trustee to make any publication of any notice required
hereby in an Authorized Newspaper, any publication or other notice in lieu thereof which is made or given with the approval of the Trustee
shall constitute a sufficient publication of such notice.

 

“Bank Credit Agreement” means
the Amended and Restated Credit Agreement dated as of December 20, 2005 among the Company, the subsidiary borrowers named therein, the
Banks named on the signature pages thereof and U.S. Bank National Association as administrative agent, as such Agreement has been and
may be amended, restated, supplemented or otherwise modified from time to time, and includes any agreement extending the maturity of,
or restructuring (including, but not limited to, the inclusion of additional borrowers thereunder that are Subsidiaries of the Company
and whose obligations are guaranteed by the Company thereunder) all or any portion of, the Debt under such Agreement or any successor
agreements and includes any agreement with one or more banks or other lending institutions refinancing all or any portion of the Debt
under such Agreement or any successor agreements.

 

    1 

     

    

 

“Board Resolution” means one
or more resolutions of the board of directors of the Company or any authorized committee thereof, certified by the secretary or an assistant
secretary to have been duly adopted and to be in full force and effect on the date of certification, and delivered to the Trustee.

 

“Business Day” means any day,
other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions are authorized or required by
law or regulation to close in The City of New York, with respect to any Security the interest on which is based on the offered quotations
in the interbank Eurodollar market for dollar deposits in London, or with respect to Securities denominated in a specified currency other
than United States dollars, in the principal financial center of the country of the specified currency.

 

“Capital Lease” means, with
respect to any Person, any lease of any property which, in conformity with GAAP, is required to be capitalized on the balance sheet of
such Person.

 

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

 

“Company” means the party named
as such in the first paragraph of this Indenture until a successor replaces it pursuant to Article 5 of this Indenture and thereafter
means the successor.

 

“Corporate Trust Office” means
the office of the Trustee at which the corporate trust business of the Trustee shall, at any particular time, be administered, which office
is, at the date of this Indenture, located at 227 West Monroe Street, Suite 2600, Chicago, Illinois 60606 Attention: Worldwide Securities
Services.

 

“Currency Agreement” means,
with respect to any Person, any foreign exchange contract, currency swap agreement or other similar agreement or arrangement designed
to protect such Person or any of its Subsidiaries against fluctuations in currency values to or under which such Person or any of its
Subsidiaries is a party or a beneficiary on the date hereof or becomes a party or a beneficiary thereafter.

 

“Debt” means, with respect
to any Person at any date of determination (without duplication), (i) all indebtedness of such Person for borrowed money, (ii) all obligations
of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such Person in respect of
letters of credit or bankers’ acceptance or other similar instruments (or reimbursement obligations with respect thereto), (iv)
all obligations of such Person to pay the deferred purchase price of property or services, except Trade Payables, (v) all obligations
of such Person as lessee under Capital Leases, (vi) all Debt of others secured by a Lien on any asset of such Person, whether or not such
Debt is assumed by such Person; provided that, for purposes of determining the amount of any Debt of the type described in this clause,
if recourse with respect to such Debt is limited to such asset, the amount of such Debt shall be limited to the lesser of the fair market
value of such asset or the amount of such Debt, (vii) all Debt of others Guaranteed by such Person to the extent such Debt is Guaranteed
by such Person, (viii) all redeemable stock valued at the greater of its voluntary or involuntary liquidation preference plus accrued
and unpaid dividends and (ix) to the extent not otherwise included in this definition, all obligations of such Person under Currency Agreements
and Interest Rate Agreements.

 

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

 

“Depositary” means, with respect
to the Securities of any series issuable or issued in the form of one or more Registered Global Securities, the Person designated as Depositary
by the Company pursuant to Section 2.03 until a successor Depositary shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Depositary” shall mean or include each Person who is then a Depositary hereunder, and if
at any time there is more than one such Person, “Depositary” as used with respect to the Securities of any such series
shall mean the Depositary with respect to the Registered Global Securities of that series.

 

    2 

     

    

 

“Designated Senior Indebtedness”
means (i) Debt under the Bank Credit Agreement and (ii) Debt constituting Senior Indebtedness which, at the time of its determination,
(A) has an aggregate principal amount of at least $30 million and (B) is specifically designated in the instrument evidencing such Senior
Indebtedness as “Designated Senior Indebtedness” by the Company.

 

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

 

“GAAP” means generally accepted
accounting principles in the U.S. as in effect as of the date hereof applied on a basis consistent with the principles, methods, procedures
and practices employed in the preparation of the Company’s audited financial statements, including, without limitation, those set
forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants
and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as is approved
by a significant segment of the accounting profession.

 

“Guarantee” means any obligation,
contingent or otherwise, of any Person directly or indirectly guaranteeing any Debt or other obligation of any other Person and, without
limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (i) to purchase
or pay (or advance or supply funds for the purchase or payment of) such Debt or other obligation of such other Person (whether arising
by virtue of partnership arrangements, or by agreement to keepwell, to purchase assets, goods, securities or services, to take-or-pay,
or to maintain financial statement conditions or otherwise) or (ii) entered into for purposes of assuring in any other manner the obligee
of such Debt or other obligation of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part);
provided that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course
of business. The term “Guarantee” used as a verb has a corresponding meaning.

 

“Holder” or “Securityholder”
means the registered holder of any Security with respect to Registered Securities and the bearer of any Unregistered Security or any coupon
appertaining thereto, as the case may be.

 

“Indenture” means this Indenture
as originally executed and delivered or as it may be amended or supplemented from time to time by one or more indentures supplemental
to this Indenture entered into pursuant to the applicable provisions of this Indenture and shall include the forms and terms of the Securities
of each series established as contemplated pursuant to Sections 2.01 and 2.03.

 

“Interest Rate Agreement” means,
with respect to any Person, any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest
rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement
or arrangement designed to protect such Person or any of its Subsidiaries against fluctuations in interest rates to or under which such
Person or any of its Subsidiaries is a party or a beneficiary on the date hereof or becomes a party or a beneficiary thereafter.

 

“Lien” means, with respect
to any property, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such property. For purposes
of this Indenture, the Company shall be deemed to own subject to a Lien any property which it has acquired or holds subject to the interest
of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to such property.

 

“Officer” means, with respect
to the Company, the chairman of the board of directors, the president or chief executive officer, any vice president, the chief financial
officer, the treasurer or any assistant treasurer, or the secretary or any assistant secretary.

 

“Officers’ Certificate”
means a certificate signed in the name of the Company (i) by the chairman of the board of directors, the president or chief executive
officer or a vice president and (ii) by the chief financial officer, the treasurer or any assistant treasurer, or the secretary or any
assistant secretary, and delivered to the Trustee. Each such certificate shall comply with Section 314 of the Trust Indenture Act, if
applicable, and include (except as otherwise expressly provided in this Indenture) the statements provided in Section 10.04, if applicable.

 

    3 

     

    

 

“Opinion of Counsel” means
a written opinion signed by legal counsel, who may be an employee of or counsel to the Company, satisfactory to the Trustee. Each such
opinion shall comply with Section 314 of the Trust Indenture Act, if applicable, and include the statements provided in Section 10.04,
if and to the extent required thereby.

 

“original issue date” of any
Security (or portion thereof) means the earlier of (a) the date of authentication of such Security or (b) the date of any Security (or
portion thereof) for which such Security was issued (directly or indirectly) on registration of transfer, exchange or substitution.

 

“Original Issue Discount Security”
means any Security that provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration
of the maturity thereof pursuant to Section 6.02.

 

“Periodic Offering” means an
offering of Securities of a series from time to time, the specific terms of which Securities, including, without limitation, the rate
or rates of interest, if any, thereon, the stated maturity or maturities thereof and the redemption provisions, if any, with respect thereto,
are to be determined by the Company or its agents upon the issuance of such Securities.

 

“Person” means an individual,
a corporation, a partnership, a limited liability company, an association, a trust or any other entity or organization, including a government
or political subdivision or an agency or instrumentality thereof.

 

“Principal” of a Security means
the principal amount of, and, unless the context indicates otherwise, includes any premium payable on, the Security.

 

“Registered Global Security”
means a Security evidencing all or a part of a series of Registered Securities, issued to the Depositary for such series in accordance
with Section 2.02, and bearing the legend prescribed in Section 2.02.

 

“Registered Security” means
any Security registered on the Security Register (as defined in Section 2.05).

 

“Responsible Officer” when
used with respect to the Trustee, shall mean an officer of the Trustee in the Corporate Trust Office, having direct responsibility for
the administration of this Indenture, and also, with respect to a particular matter, any other officer to whom such matter is referred
because of such officer’s knowledge of and familiarity with the particular subject.

 

“Securities” means any of the
securities, as defined in the first paragraph of the recitals hereof, that are authenticated and delivered under this Indenture and, unless
the context indicates otherwise, shall include any coupon appertaining thereto.

 

“Securities Act” means the
Securities Act of 1933, as amended.

 

“Senior Indebtedness” means
the principal of (and premium, if any) and interest on all Debt of the Company whether created, incurred or assumed before, on or after
the date of this Indenture; provided that such Senior Indebtedness shall not include (i) Debt of the Company that, when incurred and without
respect to any election under Section 1111(b) of Title 11, U.S. Code, was without recourse, (ii) any other Debt of the Company which by
the terms of the instrument creating or evidencing the same are specifically designated as not being senior in right of payment to the
Securities, and in particular the Securities shall rank pari passu with all other debt securities and guarantees issued to any trust,
partnership or other entity affiliated with the Company which is a financing vehicle of the Company in connection with an issuance of
preferred securities by such financing entity and (iii) redeemable stock of the Company.

 

“Subsidiary” means, with respect
to any Person, any corporation, association or other business entity of which a majority of the capital stock or other ownership interests
having ordinary voting power to elect a majority of the board of directors or other persons performing similar functions are at the time
directly or indirectly owned by such Person.

 

    4 

     

    

 

“Trade Payables” means, with
respect to any Person, any accounts payable or any other indebtedness or monetary obligation to trade creditors created, assumed or Guaranteed
by such Person or any of its Subsidiaries arising in the ordinary course of business in connection with the acquisition of goods or services.

 

“Trustee” means the party named
as such in the first paragraph of this Indenture until a successor replaces it in accordance with the provisions of Article 7 and thereafter
shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, “Trustee”
as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series.

 

“Trust Indenture Act” means
the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb), as it may be amended from time to time.

 

“Unregistered Security” means
any Security other than a Registered Security.

 

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

 

“Yield to Maturity” means,
as the context may require, the yield to maturity (i) on a series of Securities or (ii) if the Securities of a series are issuable from
time to time, on a Security of such series, calculated at the time of issuance of such series in the case of clause (i) or at the time
of issuance of such Security of such series in the case of clause (ii), or, if applicable, at the most recent redetermination of interest
on such series or on such Security, and calculated in accordance with the constant interest method or such other accepted financial practice
as is specified in the terms of such Security.

 

Section 1.02. Other Definitions. Each of
the following terms is defined in the section set forth opposite such term:

 

	Term	Section
	Authenticating Agent	2.02
	Cash Transaction	7.03
	Dollars	4.02
	Event of Default	6.01
	Judgment Currency	10.15(a)
	mandatory sinking fund payment	3.05
	optional sinking fund payment	3.05
	Paying Agent	2.05
	Payment Blockage Period	11.02
	record date	2.04
	Registrar	2.05
	Required Currency	10.15(a)
	Security Register	2.05
	self-liquidating paper	7.03
	sinking fund payment date	3.05
	tranche	2.14

 

    5 

     

    

 

Section 1.03. Incorporation by Reference of
Trust Indenture Act. Whenever this Indenture refers to a provision of the Trust Indenture Act, the provision is incorporated by reference
in and made a part of this Indenture. The following terms used in this Indenture that are defined by the Trust Indenture Act have the
following meanings:

 

“indenture securities” means
the Securities;

 

“indenture security holder”
means a Holder or a Securityholder;

 

“indenture to be qualified” means
this Indenture;

 

“indenture trustee” or “institutional
trustee” means the Trustee; and

 

“obligor” on the indenture
securities means the Company or any other obligor on the Securities.

 

All other terms used in this Indenture that are
defined by the Trust Indenture Act, defined by reference in the Trust Indenture Act to another statute or defined by a rule of the Commission
and not otherwise defined herein have the meanings assigned to them therein.

 

Section 1.04. Rules of Construction. Unless
the context otherwise requires:

 

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

 

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

 

(c)       “herein,”
“hereof” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or
other subdivision;

 

(d)       all
references to Sections or Articles refer to Sections or Articles of this Indenture unless otherwise indicated; and

 

(e)       use
of masculine, feminine or neuter pronouns should not be deemed a limitation, and the use of any such pronouns should be construed to include,
where appropriate, the other pronouns.

 

ARTICLE 2

The Securities

 

Section 2.01. Form and Dating. The Securities
of each series shall be substantially in such form or forms (not inconsistent with this Indenture) as shall be established by or pursuant
to one or more Board Resolutions or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture and may have imprinted or otherwise reproduced thereon
such legend or legends or endorsements, not inconsistent with the provisions of this Indenture, as may be required to comply with any
law, or with any rules of any securities exchange or usage, all as may be determined by the officers executing such Securities as evidenced
by their execution of the Securities. Unless otherwise so established, Unregistered Securities shall have coupons attached.

 

Section 2.02. Execution And Authentication.
Two Officers shall execute the Securities and one Officer shall execute the coupons appertaining thereto for the Company by facsimile
or manual signature in the name and on behalf of the Company. The seal of the Company, if any, shall be reproduced on the Securities.
If an Officer whose signature is on a Security or coupon appertaining thereto no longer holds that office at the time the Security is
authenticated, the Security and such coupon shall nevertheless be valid.

 

    6 

     

    

 

The Trustee, at the expense of the Company, may
appoint an authenticating agent (the “Authenticating Agent”) to authenticate Securities. The Authenticating Agent may
authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication
by such Authenticating Agent.

 

A Security and the coupons appertaining thereto
shall not be valid until the Trustee or Authenticating Agent manually signs the certificate of authentication on the Security or on the
Security to which such coupon appertains by an authorized officer. The signature shall be conclusive evidence that the Security or the
Security to which the coupon appertains has been authenticated under this Indenture.

 

At any time and from time to time after the execution
and delivery of this Indenture, the Company may deliver Securities of any series having attached thereto appropriate coupons, if any,
executed by the Company to the Trustee for authentication together with the applicable documents referred to below in this Section, and
the Trustee shall thereupon authenticate and deliver such Securities to or upon the written order of the Company. In authenticating any
Securities of a series, the Trustee shall be entitled to receive prior to the authentication of any Securities of such series, and (subject
to Article 7) shall be fully protected in relying upon, unless and until such documents have been superseded or revoked:

 

(a)       any
Board Resolution and/or executed supplemental indenture referred to in Sections 2.01 and 2.03 by or pursuant to which the forms and terms
of the Securities of that series were established;

 

(b)       an
Officers’ Certificate setting forth the form or forms and terms of the Securities, stating that the form or forms and terms of the
Securities of such series have been, or, in the case of a Periodic Offering, will be when established in accordance with such procedures
as shall be referred to therein, established in compliance with this Indenture; and

 

(c)       an
Opinion of Counsel substantially to the effect that the form or forms and terms of the Securities of such series have been, or, in the
case of a Periodic Offering, will be when established in accordance with such procedures as shall be referred to therein, established
in compliance with this Indenture and that the supplemental indenture, to the extent applicable, and Securities have been duly authorized
and, if executed and authenticated in accordance with the provisions of the Indenture and delivered to and duly paid for by the purchasers
thereof on the date of such opinion, would be entitled to the benefits of the Indenture and would be valid and binding obligations of
the Company, enforceable against the Company in accordance with their respective terms, subject to bankruptcy, insolvency, reorganization,
receivership, moratorium and other similar laws affecting creditors’ rights generally, general principles of equity, and covering
such other matters as shall be specified therein and as shall be reasonably requested by the Trustee.

 

The Trustee shall not be required to authenticate
such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities
under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee.

 

Notwithstanding the provisions of Sections 2.01
and 2.02, if, in connection with a Periodic Offering, all Securities of a series are not to be originally issued at one time, it shall
not be necessary to deliver the Board Resolution otherwise required pursuant to Section 2.01 or the written order, Officers’ Certificate
and Opinion of Counsel otherwise required pursuant to Section 2.02 at or prior to the authentication of each Security of such series if
such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued.

 

With respect to Securities of a series offered
in a Periodic Offering, the Trustee may rely, as to the authorization by the Company of any of such Securities, the forms and terms thereof
and the legality, validity, binding effect and enforceability thereof, upon the Opinion of Counsel and the other documents delivered pursuant
to Sections 2.01 and 2.02, as applicable, in connection with the first authentication of Securities of such series.

 

    7 

     

    

 

If the Company shall establish pursuant to Section
2.03 that the Securities of a series or a portion thereof are to be issued in the form of one or more Registered Global Securities, then
the Company shall execute and the Trustee shall authenticate and deliver one or more Registered Global Securities that (i) shall represent
and shall be denominated in an amount equal to the aggregate principal amount of all of the Securities of such series issued in such form
and not yet cancelled, (ii) shall be registered in the name of the Depositary for such Registered Global Security or Securities or the
nominee of such Depositary, (iii) shall be delivered by the Trustee to such Depositary or its custodian or pursuant to such Depositary’s
instructions and (iv) shall bear a legend substantially to the following effect: “Unless and until it is exchanged in whole or in
part for Securities in definitive registered form, this Security may not be transferred except as a whole by the Depositary to the nominee
of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any
such nominee to a successor Depositary or a nominee of such successor Depositary.”

 

Section 2.03. Amount Unlimited; Issuable in
Series. The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited.

 

The Securities may be issued in one or more series
and shall be subordinated to the Senior Indebtedness pursuant to the provisions of Article 11 hereof. There shall be established in or
pursuant to Board Resolution or one or more indentures supplemental hereto, prior to the initial issuance of Securities of any series,
subject to the last sentence of this Section 2.03,

 

(a)       the
designation of the Securities of the series, which shall distinguish the Securities of the series from the Securities of all other series;

 

(b)       any
limit upon the aggregate principal amount of the Securities of the series that may be authenticated and delivered under this Indenture
and any limitation on the ability of the Company to increase such aggregate principal amount after the initial issuance of the Securities
of that series (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of,
or upon redemption of, other Securities of the series pursuant hereto);

 

(c)       the
date or dates on which the principal of the Securities of the series is payable (which date or dates may be fixed or extendible);

 

(d)       the
rate or rates (which may be fixed or variable) per annum at which the Securities of the series shall bear interest, if any, the date or
dates from which such interest shall accrue, on which such interest shall be payable and (in the case of Registered Securities) on which
a record shall be taken for the determination of Holders to whom interest is payable and/or the method by which such rate or rates or
date or dates shall be determined;

 

(e)       if
other than as provided in Section 4.02, the place or places where the principal of and any interest on Securities of the series shall
be payable, any Registered Securities of the series may be surrendered for exchange, notices, demands to or upon the Company in respect
of the Securities of the series and this Indenture may be served and notice to Holders may be published;

 

(f)       the
right, if any, of the Company to redeem Securities of the series, in whole or in part, at its option and the period or periods within
which, the price or prices at which and any terms and conditions upon which Securities of the series may be so redeemed, pursuant to any
sinking fund or otherwise;

 

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

 

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

 

(i)        if
other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable upon declaration
of acceleration of the maturity thereof;

 

    8 

     

    

 

(j)        if
other than the coin or currency in which the Securities of the series are denominated, the coin or currency in which payment of the principal
of or interest on the Securities of the series shall be payable or if the amount of payments of principal of and/or interest on the Securities
of the series may be determined with reference to an index based on a coin or currency other than that in which the Securities of the
series are denominated, the manner in which such amounts shall be determined;

 

(k)       if
other than the currency of the United States of America, the currency or currencies, including composite currencies, in which payment
of the Principal of and interest on the Securities of the series shall be payable, and the manner in which any such currencies shall be
valued against other currencies in which any other Securities shall be payable;

 

(l)        whether
the Securities of the series or any portion thereof will be issuable as Registered Securities (and if so, whether such Securities will
be issuable as Registered Global Securities) or Unregistered Securities (with or without coupons) (and if so, whether such Securities
will be issued in temporary or permanent global form), or any combination of the foregoing, any restrictions applicable to the offer,
sale or delivery of Unregistered Securities or the payment of interest thereon and, if other than as provided herein, the terms upon which
Unregistered Securities of any series may be exchanged for Registered Securities of such series and vice versa;

 

(m)       whether
and under what circumstances the Company will pay additional amounts on the Securities of the series held by a person who is not a U.S.
person in respect of any tax, assessment or governmental charge withheld or deducted and, if so, whether the Company will have the option
to redeem such Securities rather than pay such additional amounts;

 

(n)       if
the Securities of the series are to be issuable in definitive form (whether upon original issue or upon exchange of a temporary Security
of such series) only upon receipt of certain certificates or other documents or satisfaction of other conditions, the form and terms of
such certificates, documents or conditions;

 

(o)       any
trustees, depositaries, authenticating or paying agents, transfer agents or the registrar or any other agents with respect to the Securities
of the series;

 

(p)       provisions,
if any, for the defeasance of the Securities of the series (including provisions permitting defeasance of less than all Securities of
the series), which provisions may be in addition to, in substitution for, or in modification of (or any combination of the foregoing)
the provisions of Article 8;

 

(q)       if
the Securities of the series are issuable in whole or in part as one or more Registered Global Securities or Unregistered Securities in
global form, the identity of the Depositary or common Depositary for such Registered Global Security or Securities or Unregistered Securities
in global form;

 

(r)       any
other Events of Default or covenants with respect to the Securities of the series; and

 

(s)       any
other terms of the Securities of the series (which terms shall not be inconsistent with the provisions of this Indenture).

 

All Securities of any one series and coupons,
if any, appertaining thereto shall be substantially identical, except in the case of Registered Securities as to date and denomination,
except in the case of any Periodic Offering and except as may otherwise be provided by or pursuant to the Board Resolution referred to
above or as set forth in any such indenture supplemental hereto. All Securities of any one series need not be issued at the same time
and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to such Board Resolution
or in any such indenture supplemental hereto and any forms and terms of Securities to be issued from time to time may be completed and
established from time to time prior to the issuance thereof by procedures described in such Board Resolution or supplemental indenture.

 

    9 

     

    

 

Unless otherwise expressly provided with respect
to a series of Securities, the aggregate principal amount of a series of Securities may be increased and additional Securities of such
series may be issued up to the maximum aggregate principal amount authorized with respect to such series as increased.

 

Section 2.04. Denomination and Date of Securities;
Payments of Interest. The Securities of each series shall be issuable as Registered Securities or Unregistered Securities in denominations
established as contemplated by Section 2.03 or, if not so established with respect to Securities of any series, in denominations of $1,000
and any integral multiple thereof. The Securities of each series shall be numbered, lettered or otherwise distinguished in such manner
or in accordance with such plan as the Officers of the Company executing the same may determine, as evidenced by their execution thereof.

 

Unless otherwise specified with respect to a series
of Securities, each Security shall be dated the date of its authentication. The Securities of each series shall bear interest, if any,
from the date, and such interest and shall be payable on the dates, established as contemplated by Section 2.03.

 

The person in whose name any Registered Security
of any series is registered at the close of business on any record date applicable to a particular series with respect to any interest
payment date for such series shall be entitled to receive the interest, if any, payable on such interest payment date notwithstanding
any transfer or exchange of such Registered Security subsequent to the record date and prior to such interest payment date, except if
and to the extent the Company shall default in the payment of the interest due on such interest payment date for such series, in which
case the provisions of Section 2.13 shall apply. The term “record date” as used with respect to any interest payment
date (except a date for payment of defaulted interest) for the Securities of any series shall mean the date specified as such in the terms
of the Registered Securities of such series established as contemplated by Section 2.03, or, if no such date is so established, the fifteenth
day next preceding such interest payment date, whether or not such record date is a Business Day.

 

Section 2.05. Registrar and Paying Agent; Agents
Generally. The Company shall maintain an office or agency where Securities may be presented for registration, registration of transfer
or for exchange (the “Registrar”) and an office or agency where Securities may be presented for payment (the “Paying
Agent”), which shall be in the Borough of Manhattan, The City of New York or in Chicago, Illinois. The Company shall cause the
Registrar to keep a register of the Registered Securities and of their registration, transfer and exchange (the “Security Register”).
The Company may have one or more additional Paying Agents or transfer agents with respect to any series.

 

The Company shall enter into an appropriate agency
agreement with any Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture and the Trust Indenture
Act that relate to such Agent. The Company shall give prompt written notice to the Trustee of the name and address of any Agent and any
change in the name or address of an Agent. If the Company fails to maintain a Registrar or Paying Agent, the Trustee shall act as such.
The Company may remove any Agent upon written notice to such Agent and the Trustee; provided that no such removal shall become
effective until (i) the acceptance of an appointment by a successor Agent to such Agent as evidenced by an appropriate agency agreement
entered into by the Company and such successor Agent and delivered to the Trustee or (ii) notification to the Trustee that the Trustee
shall serve as such Agent until the appointment of a successor Agent in accordance with clause (i) of this proviso. The Company or any
affiliate of the Company may act as Paying Agent or Registrar; provided that neither the Company nor an affiliate of the Company
shall act as Paying Agent in connection with the defeasance of the Securities or the discharge of this Indenture under Article 8.

 

The Company initially appoints the Trustee as
Registrar, Paying Agent and Authenticating Agent. If, at any time, the Trustee is not the Registrar, the Registrar shall make available
to the Trustee ten days prior to each interest payment date and at such other times as the Trustee may reasonably request the names and
addresses of the Holders as they appear in the Security Register.

 

Section 2.06. Paying Agent to Hold Money in
Trust. Not later than 10:00 a.m. New York City time on each due date or, in the case of Unregistered Securities, 10:00 a.m. New York
City time on the Business Day prior to the due date, of any Principal or interest on any Securities, the Company shall deposit with the
Paying Agent money in immediately available funds sufficient to pay such Principal or interest. The Company shall require each Paying
Agent other than the Trustee to agree in writing that such Paying Agent shall hold in trust for the benefit of the Holders of such Securities
or the Trustee all money held by the Paying Agent for the payment of Principal of and interest on such Securities and shall promptly notify
the Trustee of any default by the Company in making any such payment. The Company at any time may require a Paying Agent to pay all money
held by it to the Trustee and account for any funds disbursed, and the Trustee may at any time during the continuance of any payment default,
upon written request to a Paying Agent, require such Paying Agent to pay all money held by it to the Trustee and to account for any funds
disbursed. Upon doing so, the Paying Agent shall have no further liability for the money so paid over to the Trustee. If the Company or
any affiliate of the Company acts as Paying Agent, it will, on or before each due date of any Principal of or interest on any Securities,
segregate and hold in a separate trust fund for the benefit of the Holders thereof a sum of money sufficient to pay such Principal or
interest so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture,
and will promptly notify the Trustee in writing of its action or failure to act as required by this Section.

 

    10 

     

    

 

Section 2.07. Transfer and Exchange. Unregistered
Securities (except for any temporary global Unregistered Securities) and coupons (except for coupons attached to any temporary global
Unregistered Securities) shall be transferable by delivery.

 

At the option of the Holder thereof, Registered
Securities of any series (other than a Registered Global Security, except as set forth below) may be exchanged for a Registered Security
or Registered Securities of such series and tenor having authorized denominations and an equal aggregate principal amount, upon surrender
of such Registered Securities to be exchanged at the agency of the Company that shall be maintained for such purpose in accordance with
Section 2.05 and upon payment, if the Company shall so require, of the charges hereinafter provided. If the Securities of any series are
issued in both registered and unregistered form, except as otherwise established pursuant to Section 2.03, at the option of the Holder
thereof, Unregistered Securities of any series may be exchanged for Registered Securities of such series and tenor having authorized denominations
and an equal aggregate principal amount, upon surrender of such Unregistered Securities to be exchanged at the agency of the Company that
shall be maintained for such purpose in accordance with Section 4.02, with, in the case of Unregistered Securities that have coupons attached,
all unmatured coupons and all matured coupons in default thereto appertaining, and upon payment, if the Company shall so require, of the
charges hereinafter provided. At the option of the Holder thereof, if Unregistered Securities of any series, maturity date, interest rate
and original issue date are issued in more than one authorized denomination, except as otherwise established pursuant to Section 2.03,
such Unregistered Securities may be exchanged for Unregistered Securities of such series and tenor having authorized denominations and
an equal aggregate principal amount, upon surrender of such Unregistered Securities to be exchanged at the agency of the Company that
shall be maintained for such purpose in accordance with Section 4.02, with, in the case of Unregistered Securities that have coupons attached,
all unmatured coupons and all matured coupons in default thereto appertaining, and upon payment, if the Company shall so require, of the
charges hereinafter provided. Registered Securities of any series may not be exchanged for Unregistered Securities of such series. Whenever
any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities
which the Holder making the exchange is entitled to receive.

 

Upon surrender for registration of transfer of
any Registered Security of a series at the agency of the Company that shall be maintained for that purpose in accordance with Section
2.05 and upon payment, if the Company shall so require, of the charges hereinafter provided, the Company shall execute, and the Trustee
shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Registered Securities of the
same series, of any authorized denominations and of like tenor and aggregate principal amount.

 

All Registered Securities presented for registration
of transfer, exchange, redemption or payment shall be duly endorsed by, or be accompanied by a written instrument or instruments of transfer
in form satisfactory to the Company and the Trustee duly executed by, the holder or his attorney duly authorized in writing.

 

The Company may require payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection with any exchange or registration of transfer of Securities.
No service charge shall be made for any such transaction.

 

    11 

     

    

 

Notwithstanding any other provision of this Section
2.07, unless and until it is exchanged in whole or in part for Securities in definitive registered form, a Registered Global Security
representing all or a portion of the Securities of a series may not be transferred except as a whole by the Depositary for such series
to a nominee of such Depositary or by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by such
Depositary or any such nominee to a successor Depositary for such series or a nominee of such successor Depositary.

 

If at any time the Depositary for any Registered
Global Securities of any series notifies the Company that it is unwilling or unable to continue as Depositary for such Registered Global
Securities or if at any time the Depositary for such Registered Global Securities shall no longer be eligible under applicable law, the
Company shall appoint a successor Depositary eligible under applicable law with respect to such Registered Global Securities. If a successor
Depositary eligible under applicable law for such Registered Global Securities is not appointed by the Company within 90 days after the
Company receives such notice or becomes aware of such ineligibility, the Company will execute, and the Trustee, upon receipt of the Company’s
order for the authentication and delivery of definitive Registered Securities of such series and tenor, will authenticate and deliver
Registered Securities of such series and tenor, in any authorized denominations, in an aggregate principal amount equal to the principal
amount of such Registered Global Securities, in exchange for such Registered Global Securities.

 

The Company may at any time and in its sole discretion
and subject to the procedures of the Depositary determine that any Registered Global Securities of any series shall no longer be maintained
in global form. In such event the Company will execute, and the Trustee, upon receipt of the Company’s order for the authentication
and delivery of definitive Registered Securities of such series and tenor, will authenticate and deliver, Registered Securities of such
series and tenor in any authorized denominations, in an aggregate principal amount equal to the principal amount of such Registered Global
Securities, in exchange for such Registered Global Securities.

 

Any time the Registered Securities of any series
are not in the form of Registered Global Securities pursuant to the preceding two paragraphs, the Company agrees to supply the Trustee
with a reasonable supply of certificated Registered Securities without the legend required by Section 2.02 and the Trustee agrees to hold
such Registered Securities in safekeeping until authenticated and delivered pursuant to the terms of this Indenture.

 

If established by the Company pursuant to Section
2.03 with respect to any Registered Global Security, the Depositary for such Registered Global Security may surrender such Registered
Global Security in exchange in whole or in part for Registered Securities of the same series and tenor in definitive registered form on
such terms as are acceptable to the Company and such Depositary. Thereupon, the Company shall execute, and the Trustee shall authenticate
and deliver, without service charge,

 

(a)       to
the Person specified by such Depositary new Registered Securities of the same series and tenor, of any authorized denominations as requested
by such Person, in an aggregate principal amount equal to and in exchange for such Person’s beneficial interest in the Registered
Global Security; and

 

(b)       to
such Depositary a new Registered Global Security in a denomination equal to the difference, if any, between the principal amount of the
surrendered Registered Global Security and the aggregate principal amount of Registered Securities authenticated and delivered pursuant
to clause (a) above.

 

Registered Securities issued in exchange for a
Registered Global Security pursuant to this Section 2.07 shall be registered in such names and in such authorized denominations as the
Depositary for such Registered Global Security, pursuant to instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee or an agent of the Company or the Trustee. The Trustee or such agent shall deliver such Securities to or as directed
by the Persons in whose names such Securities are so registered.

 

    12 

     

    

 

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

 

Notwithstanding anything herein or in the forms
or terms of any Securities to the contrary, none of the Company, the Trustee or any agent of the Company or the Trustee shall be required
to exchange any Unregistered Security for a Registered Security if such exchange would result in adverse Federal income tax consequences
to the Company (such as, for example, the inability of the Company to deduct from its income, as computed for Federal income tax purposes,
the interest payable on the Unregistered Securities) under then applicable United States Federal income tax laws. The Trustee and any
such agent shall be entitled to rely on an Officers’ Certificate or an Opinion of Counsel in determining such result.

 

The Registrar shall not be required (i) to issue,
authenticate, register the transfer of or exchange Securities of any series for a period of 15 days before a selection of such Securities
to be redeemed or (ii) to register the transfer of or exchange any Security selected for redemption in whole or in part.

 

Section 2.08. Replacement Securities. If
any mutilated Security or a Security with a mutilated coupon appertaining to it is surrendered to the Trustee, the Company shall execute
and the Trustee shall authenticate and deliver, in exchange for such mutilated Security or in exchange for the Security to which a mutilated
coupon appertains, a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously
outstanding, with coupons corresponding to the coupons, if any, appertaining to such mutilated Security or to the Security to which such
mutilated coupon appertains.

 

If there shall be delivered to the Company and
the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security or coupon and (ii) such security or indemnity
as may be required by them to save each of them and any agent of any of them harmless, then, in the absence of notice to the Company or
the Trustee that such Security or coupon has been acquired by a bona fide purchaser, the Company shall execute and the Trustee shall authenticate
and deliver, in lieu of any such destroyed, lost or stolen Security or in exchange for the Security to which a destroyed, lost or stolen
coupon appertains (with all appurtenant coupons not destroyed, lost or stolen), a new Security of the same series and of like tenor and
principal amount and bearing a number not contemporaneously outstanding, with coupons corresponding to the coupons, if any, appertaining
to such destroyed, lost or stolen Security or to the Security to which such destroyed, lost or stolen coupon appertains.

 

In case any such mutilated, destroyed, lost or
stolen Security or coupon has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new
Security, pay such Security or coupon (without surrender thereof except in the case of a mutilated Security or coupon) if the applicant
for such payment shall furnish to the Company and the Trustee such security or indemnity as may be required by them to save each of them
and any agent of any of them harmless, and in the case of destruction, loss or theft, evidence satisfactory to the Company and the Trustee
and any agent of them of the destruction, loss or theft of such Security and the ownership thereof; provided, however, that the
Principal of and any interest on Unregistered Securities shall, except as otherwise provided in Section 4.02, be payable only at an office
or agency located outside the United States.

 

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

 

Every new Security of any series, with its coupons,
if any, issued pursuant to this Section in lieu of any destroyed, lost or stolen Security or in exchange for any mutilated Security, or
in exchange for a Security to which a mutilated, destroyed, lost or stolen coupon appertains, shall constitute an original additional
contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security and its coupons, if any, or the
mutilated, destroyed, lost or stolen coupon shall be at any time enforceable by anyone, and any such new Security and coupons, if any,
shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that series and
their coupons, if any, duly issued hereunder.

 

    13 

     

    

 

The provisions of this Section are exclusive and
shall preclude (to the extent lawful) any other rights and remedies with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities or coupons.

 

Section 2.09. Outstanding Securities. Securities
outstanding at any time are all Securities that have been authenticated by the Trustee except for those cancelled by it, those delivered
to it for cancellation, those described in this Section as not outstanding and those that have been defeased pursuant to Section 8.05.

 

If a Security is replaced pursuant to Section 2.08,
it ceases to be outstanding unless and until the Trustee and the Company receive proof satisfactory to them that the replaced Security
is held by a holder in due course.

 

If the Paying Agent (other than the Company or
an affiliate of the Company) holds on the maturity date or any redemption date or date for repurchase of the Securities money sufficient
to pay Securities payable or to be redeemed or repurchased on that date, then on and after that date such Securities cease to be outstanding
and interest on them shall cease to accrue.

 

A Security does not cease to be outstanding because
the Company or one of its affiliates holds such Security, provided, however, that, in determining whether the Holders of the requisite
principal amount of the outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder,
Securities owned by the Company or any affiliate of the Company shall be disregarded and deemed not to be outstanding, except that, in
determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent
or waiver, only Securities as to which a Responsible Officer of the Trustee has received written notice to be so owned shall be so disregarded.
Any Securities so owned which are pledged by the Company, or by any affiliate of the Company, as security for loans or other obligations,
otherwise than to another such affiliate of the Company, shall be deemed to be outstanding, if the pledgee is entitled pursuant to the
terms of its pledge agreement and is free to exercise in its or his discretion the right to vote such securities, uncontrolled by the
Company or by any such affiliate.

 

Section 2.10. Temporary Securities. Until
definitive Securities of any series are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities
of such series. Temporary Securities of any series shall be substantially in the form of definitive Securities of such series but may
have insertions, substitutions, omissions and other variations determined to be appropriate by the Officers executing the temporary Securities,
as evidenced by their execution of such temporary Securities. If temporary Securities of any series are issued, the Company will cause
definitive Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Securities of any
series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series and tenor upon surrender
of such temporary Securities at the office or agency of the Company designated for such purpose pursuant to Section 4.02, without charge
to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of such series and tenor
and authorized denominations. Until so exchanged, the temporary Securities of any series shall be entitled to the same benefits under
this Indenture as definitive Securities of such series.

 

Section 2.11. Cancellation. The Company
at any time may deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company
may have acquired in any manner whatsoever, and may deliver to the Trustee for cancellation any Securities previously authenticated hereunder
which the Company has not issued and sold. The Registrar, any transfer agent and the Paying Agent shall forward to the Trustee any Securities
surrendered to them for transfer, exchange or payment. The Trustee shall cancel and dispose of in accordance with its customary procedures
all Securities surrendered for transfer, exchange, payment or cancellation and shall deliver a certificate of disposition to the Company.
The Company may not issue new Securities to replace Securities it has paid in full or delivered to the Trustee for cancellation.

 

    14 

     

    

 

Section 2.12. CUSIP Numbers. The Company
in issuing the Securities may use “CUSIP” and “CINS” numbers (if then generally in use), and the Trustee shall
use CUSIP numbers or CINS numbers, as the case may be, in notices of redemption or exchange as a convenience to Holders and no representation
shall be made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of redemption or
exchange.

 

Section 2.13. Defaulted Interest. If the
Company defaults in a payment of interest on the Registered Securities, it shall pay, or shall deposit with the Paying Agent money in
immediately available funds sufficient to pay, the defaulted interest plus (to the extent lawful) any interest payable on the defaulted
interest (as may be specified in the terms thereof, established pursuant to Section 2.03) to the Persons who are Holders on a subsequent
special record date, which shall mean the 15th day next preceding the date fixed by the Company for the payment of defaulted interest,
whether or not such day is a Business Day. At least 15 days before such special record date, the Company shall mail to each Holder of
such Registered Securities and to the Trustee a notice that states the special record date, the payment date and the amount of defaulted
interest to be paid.

 

Section 2.14. Series May Include Tranches.
A series of Securities may include one or more tranches (each a “tranche”) of Securities, including Securities
issued in a Periodic Offering. The Securities of different tranches may have one or more different terms, including authentication dates
and public offering prices, but all the Securities within each such tranche shall have identical terms, including authentication date
and public offering price. Notwithstanding any other provision of this Indenture, with respect to Sections 2.02 (other than the fourth,
sixth and seventh paragraphs thereof) through 2.04, 2.07, 2.08, 2.10, 3.01 through 3.05, 4.02, 6.01 through 6.14, 8.01 through 8.07, 9.02
and Section 10.07, if any series of Securities includes more than one tranche, all provisions of such sections applicable to any series
of Securities shall be deemed equally applicable to each tranche of any series of Securities in the same manner as though originally designated
a series unless otherwise provided with respect to such series or tranche pursuant to Section 2.03. In particular, and without limiting
the scope of the next preceding sentence, any of the provisions of such sections which provide for or permit action to be taken with respect
to a series of Securities shall also be deemed to provide for and permit such action to be taken instead only with respect to Securities
of one or more tranches within that series (and such provisions shall be deemed satisfied thereby), even if no comparable action is taken
with respect to Securities in the remaining tranches of that series.

 

ARTICLE 3

Redemption

 

Section 3.01. Applicability of Article. The
provisions of this Article shall be applicable to the Securities of any series which are redeemable before their maturity or to any sinking
fund for the retirement of Securities of a series except as otherwise specified as contemplated by Section 2.03 for Securities of such
series.

 

Section 3.02. Notice of Redemption; Partial
Redemptions. Notice of redemption to the Holders of Registered Securities of any series to be redeemed as a whole or in part at the
option of the Company shall be given by mailing notice of such redemption by first class mail, postage prepaid, at least 30 days and not
more than 60 days prior to the date fixed for redemption to such Holders of Registered Securities of such series at their last addresses
as they shall appear upon the registry books. Notice of redemption to the Holders of Unregistered Securities of any series to be redeemed
as a whole or in part who have filed their names and addresses with the Trustee pursuant to Section 313(c)(2) of the Trust Indenture Act,
shall be given by mailing notice of such redemption, by first class mail, postage prepaid, at least 30 days and not more than 60 days
prior to the date fixed for redemption, to such Holders at such addresses as were so furnished to the Trustee (and, in the case of any
such notice given by the Company, the Trustee shall make such information available to the Company for such purpose). Notice of redemption
to all other Holders of Unregistered Securities of any series to be redeemed as a whole or in part shall be published in an Authorized
Newspaper in The City of New York or with respect to any Security the interest on which is based on the offered quotations in the interbank
Eurodollar market for dollar deposits in an Authorized Newspaper in London, in each case, once in each of three successive calendar weeks,
the first publication to be not less than 30 days nor more than 60 days prior to the date fixed for redemption. Any notice which is mailed
or published in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the Holder receives
the notice. Failure to give notice by mail, or any defect in the notice to the Holder of any Security of a series designated for redemption
as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Security of such series.

 

    15 

     

    

 

The notice of redemption to each such Holder shall
specify the principal amount of each Security of such series held by such Holder to be redeemed, the CUSIP numbers of the Securities to
be redeemed, the date fixed for redemption, the redemption price, or if not then ascertainable, the manner of calculation thereof, the
place or places of payment, that payment will be made upon presentation and surrender of such Securities and, in the case of Securities
with coupons attached thereto, of all coupons appertaining thereto maturing after the date fixed for redemption, that such redemption
is pursuant to the mandatory or optional sinking fund, or both, if such be the case, that interest accrued to the date fixed for redemption
will be paid as specified in such notice and that on and after said date interest thereon or on the portions thereof to be redeemed will
cease to accrue. In case any Security of a series is to be redeemed in part only, the notice of redemption shall state the portion of
the principal amount thereof to be redeemed and shall state that on and after the date fixed for redemption, upon surrender of such Security,
a new Security or Securities of such series and tenor in principal amount equal to the unredeemed portion thereof will be issued.

 

The notice of redemption of Securities of any
series to be redeemed at the option of the Company shall be given by the Company or, at the Company’s request, by the Trustee in
the name and at the expense of the Company.

 

On or before 10:00 a.m. New York City time on
the redemption date or, in the case of Unregistered Securities, on or before 10:00 a.m. New York City time on the Business Day prior to
the redemption date specified in the notice of redemption given as provided in this Section, the Company will deposit with the Trustee
or with one or more Paying Agents (or, if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided
in Section 2.06) an amount of money sufficient to redeem on the redemption date all the Securities of such series so called for redemption
at the appropriate redemption price, together with accrued interest to the date fixed for redemption. If all of the outstanding Securities
of a series are to be redeemed, the Company will deliver to the Trustee at least 10 days prior to the last date on which notice of redemption
may be given to Holders pursuant to the first paragraph of this Section 3.02 (or such shorter period as shall be acceptable to the Trustee)
an Officers’ Certificate stating that all such Securities are to be redeemed. If less than all the outstanding Securities of a series
are to be redeemed, the Company will deliver to the Trustee at least 15 days prior to the last date on which notice of redemption may
be given to Holders pursuant to the first paragraph of this Section 3.02 (or such shorter period as shall be acceptable to the Trustee)
an Officers’ Certificate stating the aggregate principal amount of such Securities to be redeemed. In the case of any redemption
of Securities (a) prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere
in this Indenture, or (b) pursuant to an election of the Company which is subject to a condition specified in the terms of such Securities
or elsewhere in this Indenture, the Company shall deliver to the Trustee, prior to the giving of any notice of redemption to Holders pursuant
to this Section, an Officers’ Certificate evidencing compliance with such restriction or condition.

 

If less than all the Securities of a series are
to be redeemed, the Trustee shall select, pro rata, by lot or in such manner as it shall deem appropriate and fair, Securities of such
series to be redeemed in whole or in part. Securities may be redeemed in part in principal amounts equal to authorized denominations for
Securities of such series. The Trustee shall promptly notify the Company in writing of the Securities of such series selected for redemption
and, in the case of any Securities of such series selected for partial redemption, the principal amount thereof to be redeemed. For all
purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate,
in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Security which has
been or is to be redeemed.

 

Section 3.03. Payment Of Securities Called
For Redemption. If notice of redemption has been given as above provided, the Securities or portions of Securities specified in such
notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with
interest accrued to the date fixed for redemption, and on and after such date (unless the Company shall default in the payment of such
Securities at the redemption price, together with interest accrued to such date) interest on the Securities or portions of Securities
so called for redemption shall cease to accrue, and the unmatured coupons, if any, appertaining thereto shall be void and, except as provided
in Sections 7.12 and 8.02, such Securities shall cease from and after the date fixed for redemption to be entitled to any benefit under
this Indenture, and the Holders thereof shall have no right in respect of such Securities except the right to receive the redemption price
thereof and unpaid interest to the date fixed for redemption. On presentation and surrender of such Securities at a place of payment specified
in said notice, together with all coupons, if any, appertaining thereto maturing after the date fixed for redemption, said Securities
or the specified portions thereof shall be paid and redeemed by the Company at the applicable redemption price, together with interest
accrued thereon to the date fixed for redemption; provided that payment of interest becoming due on or prior to the date fixed for redemption
shall be payable in the case of Securities with coupons attached thereto, to the Holders of the coupons for such interest upon surrender
thereof, and in the case of Registered Securities, to the Holders of such Registered Securities registered as such on the relevant record
date subject to the terms and provisions of Sections 2.04 and 2.13 hereof.

 

    16 

     

    

 

If any Security called for redemption shall not
be so paid upon surrender thereof for redemption, the principal shall, until paid or duly provided for, bear interest from the date fixed
for redemption at the rate of interest or Yield to Maturity (in the case of an Original Issue Discount Security) borne by such Security.

 

If any Security with coupons attached thereto
is surrendered for redemption and is not accompanied by all appurtenant coupons maturing after the date fixed for redemption, the surrender
of such missing coupon or coupons may be waived by the Company and the Trustee, if there be furnished to each of them such security or
indemnity as they may require to save each of them harmless.

 

Upon presentation of any Security of any series
redeemed in part only, the Company shall execute and the Trustee shall authenticate and deliver to or on the order of the Holder thereof,
at the expense of the Company, a new Security or Securities of such series and tenor (with any unmatured coupons attached), of authorized
denominations, in principal amount equal to the unredeemed portion of the Security so presented.

 

Section 3.04. Exclusion of Certain Securities
from Eligibility for Selection for Redemption. Securities shall be excluded from eligibility for selection for redemption if they
are identified by registration and certificate number in a written statement signed by an authorized officer of the Company and delivered
to the Trustee at least 40 days prior to the last date on which notice of redemption may be given as being owned of record and beneficially
by, and not pledged or hypothecated by, either (a) the Company or (b) an entity specifically identified in such written statement as directly
or indirectly controlling or controlled by or under direct or indirect common control with the Company.

 

Section 3.05. Mandatory and Optional Sinking
Funds. The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to
as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of
the Securities of any series is herein referred to as an “optional sinking fund payment”. The date on which a sinking
fund payment is to be made is herein referred to as the “sinking fund payment date”.

 

In lieu of making all or any part of any mandatory
sinking fund payment with respect to any series of Securities in cash, the Company may at its option (a) deliver to the Trustee Securities
of such series theretofore purchased or otherwise acquired (except through a mandatory sinking fund payment) by the Company or receive
credit for Securities of such series (not previously so credited) theretofore purchased or otherwise acquired (except as aforesaid) by
the Company and delivered to the Trustee for cancellation pursuant to Section 2.11, (b) receive credit for optional sinking fund payments
(not previously so credited) made pursuant to this Section, or (c) receive credit for Securities of such series (not previously so credited)
redeemed by the Company at the option of the Company pursuant to the terms of such Securities or through any optional sinking fund payment.
Securities so delivered or credited shall be received or credited by the Trustee at the sinking fund redemption price specified in such
Securities.

 

    17 

     

    

 

On or before the sixtieth day next preceding each
sinking fund payment date for any series, or such shorter period as shall be acceptable to the Trustee, the Company will deliver to the
Trustee an Officers’ Certificate (a) specifying the portion of the mandatory sinking fund payment to be satisfied by payment of
cash and the portion to be satisfied by credit of specified Securities of such series and the basis for such credit, (b) stating that
none of the specified Securities of such series has theretofore been so credited, (c) stating that no defaults in the payment of interest
or Events of Default with respect to such series have occurred (which have not been waived or cured) and are continuing and (d) stating
whether or not the Company intends to exercise its right to make an optional sinking fund payment with respect to such series and, if
so, specifying the amount of such optional sinking fund payment which the Company intends to pay on or before the next succeeding sinking
fund payment date. Any Securities of such series to be credited and required to be delivered to the Trustee in order for the Company to
be entitled to credit therefor as aforesaid which have not theretofore been delivered to the Trustee shall be delivered for cancellation
pursuant to Section 2.11 to the Trustee with such Officers’ Certificate (or reasonably promptly thereafter if acceptable to the
Trustee). Such Officers’ Certificate shall be irrevocable and upon its receipt by the Trustee the Company shall become unconditionally
obligated to make all the cash payments or delivery of Securities therein referred to, if any, on or before the next succeeding sinking
fund payment date. Failure of the Company, on or before any such sixtieth day, to deliver such Officer’s Certificate and Securities
specified in this paragraph, if any, shall not constitute a default but shall constitute, on and as of such date, the irrevocable election
of the Company (i) that the mandatory sinking fund payment for such series due on the next succeeding sinking fund payment date shall
be paid entirely in cash without the option to deliver or credit Securities of such series in respect thereof and (ii) that the Company
will make no optional sinking fund payment with respect to such series as provided in this Section.

 

If the sinking fund payment or payments (mandatory
or optional or both) to be made in cash on the next succeeding sinking fund payment date plus any unused balance of any preceding sinking
fund payments made in cash shall exceed $50,000 (or a lesser sum if the Company shall so request with respect to the Securities of any
series), such cash shall be applied on the next succeeding sinking fund payment date to the redemption of Securities of such series at
the sinking fund redemption price thereof together with accrued interest thereon to the date fixed for redemption. If such amount shall
be $50,000 (or such lesser sum) or less and the Company makes no such request then it shall be carried over until a sum in excess of $50,000
(or such lesser sum) is available. The Trustee shall select, in the manner provided in Section 3.02, for redemption on such sinking fund
payment date a sufficient principal amount of Securities of such series to absorb said cash, as nearly as may be, and shall (if requested
in writing by the Company) inform the Company of the serial numbers of the Securities of such series (or portions thereof) so selected.
Securities shall be excluded from eligibility for redemption under this Section if they are identified by registration and certificate
number in an Officers’ Certificate delivered to the Trustee at least 60 days prior to the sinking fund payment date as being owned
of record and beneficially by, and not pledged or hypothecated by either (a) the Company or (b) an entity specifically identified in such
Officers’ Certificate as directly or indirectly controlling or controlled by or under direct or indirect common control with the
Company. The Trustee, in the name and at the expense of the Company (or the Company, if it shall so request the Trustee in writing) shall
cause notice of redemption of the Securities of such series to be given in substantially the manner provided in Section 3.02 (and with
the effect provided in Section 3.03) for the redemption of Securities of such series in part at the option of the Company. The amount
of any sinking fund payments not so applied or allocated to the redemption of Securities of such series shall be added to the next cash
sinking fund payment for such series and, together with such payment, shall be applied in accordance with the provisions of this Section.
Any and all sinking fund moneys held on the stated maturity date of the Securities of any particular series (or earlier, if such maturity
is accelerated), which are not held for the payment or redemption of particular Securities of such series shall be applied, together with
other moneys, if necessary, sufficient for the purpose, to the payment of the Principal of, and interest on, the Securities of such series
at maturity.

 

On or before 10:00 a.m. New York City time on
each sinking fund payment date or, in the case of Unregistered Securities, 10:00 a.m. New York City time on the Business Day prior to
the sinking fund payment date, the Company shall pay to the Trustee in cash or shall otherwise provide for the payment of all interest
accrued to the date fixed for redemption on Securities to be redeemed on the next following sinking fund payment date.

 

    18 

     

    

 

The Trustee shall not redeem or cause to be redeemed
any Securities of a series with sinking fund moneys or mail any notice of redemption of Securities of such series by operation of the
sinking fund during the continuance of a Default in payment of interest on such Securities or of any Event of Default except that, where
the mailing of notice of redemption of any Securities shall theretofore have been made, the Trustee shall redeem or cause to be redeemed
such Securities, provided that it shall have received from the Company a sum sufficient for such redemption. Except as aforesaid, any
moneys in the sinking fund for such series at the time when any such Default or Event of Default shall occur, and any moneys thereafter
paid into the sinking fund, shall, during the continuance of such Default or Event of Default, be deemed to have been collected under
Article 6 and held for the payment of all such Securities. In case such Event of Default shall have been waived as provided in Section
6.04 or the Default cured on or before the sixtieth day preceding the sinking fund payment date in any year, such moneys shall thereafter
be applied on the next succeeding sinking fund payment date in accordance with this Section to the redemption of such Securities.

 

ARTICLE 4

Covenants

 

Section 4.01. Payment of Securities. The
Company shall pay the Principal of and interest on the Securities on the dates and in the manner provided in the Securities and this Indenture.
The interest on Securities with coupons attached (together with any additional amounts payable pursuant to the terms of such Securities)
shall be payable only upon presentation and surrender of the several coupons for such interest installments as are evidenced thereby as
they severally mature. The interest on any temporary Unregistered Securities (together with any additional amounts payable pursuant to
the terms of such Securities) shall be paid, as to the installments of interest evidenced by coupons attached thereto, if any, only upon
presentation and surrender thereof, and, as to the other installments of interest, if any, only upon presentation of such Unregistered
Securities for notation thereon of the payment of such interest. The interest on Registered Securities (together with any additional amounts
payable pursuant to the terms of such Securities) shall be payable only to the Holders thereof (subject to Section 2.04) and at the option
of the Company may be paid by mailing checks for such interest payable to or upon the written order of such Holders at their last addresses
as they appear on the Security Register of the Company.

 

Notwithstanding any provisions of this Indenture
and the Securities of any series to the contrary, if the Company and a Holder of any Registered Security so agree, payments of interest
on, and any portion of the Principal of, such Holder’s Registered Security (other than interest payable at maturity or on any redemption
or repayment date or the final payment of Principal on such Security) shall be made by the Paying Agent, upon receipt from the Company
of immediately available funds by 11:00 a.m., New York City time (or such other time as may be agreed to between the Company and the Paying
Agent), directly to the Holder of such Security (by Federal funds wire transfer or otherwise) if the Holder has delivered written instructions
to the Trustee 15 days prior to such payment date requesting that such payment will be so made and designating the bank account to which
such payments shall be so made and in the case of payments of Principal, surrenders the same to the Trustee in exchange for a Security
or Securities aggregating the same principal amount as the unredeemed principal amount of the Securities surrendered. The Trustee shall
be entitled to rely on the last instruction delivered by the Holder pursuant to this Section 4.01 unless a new instruction is delivered
15 days prior to a payment date. The Company will indemnify and hold each of the Trustee and any Paying Agent harmless against any loss,
liability or expense (including attorneys’ fees) resulting from any act or omission to act on the part of the Company or any such
Holder in connection with any such agreement or from making any payment in accordance with any such agreement.

 

The Company shall pay interest on overdue Principal,
and interest on overdue installments of interest, to the extent lawful, at the rate per annum specified in the Securities.

 

Section 4.02. Maintenance of Office or Agency.
The Company will maintain in the Borough of Manhattan, The City of New York, or Chicago, Illinois an office or agency where Securities
may be surrendered for registration of transfer or exchange or for presentation for payment and where notices and demands to or upon the
Company in respect of the Securities and this Indenture may be served. The Company hereby initially designates the Corporate Trust Office
of the Trustee, located in Chicago, Illinois, as such office or agency of the Company. The Company will give prompt written notice to
the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain
any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices
and demands may be made or served at the address of the Trustee set forth in Section 10.02.

 

    19 

     

    

 

The Company will maintain one or more agencies
in a city or cities located outside the United States (including any city in which such an agency is required to be maintained under the
rules of any stock exchange on which the Securities of any series are listed) where the Unregistered Securities, if any, of each series
and coupons, if any, appertaining thereto may be presented for payment. No payment on any Unregistered Security or coupon will be made
upon presentation of such Unregistered Security or coupon at an agency of the Company within the United States nor will any payment be
made by transfer to an account in, or by mail to an address in, the United States unless, pursuant to applicable United States laws and
regulations then in effect, such payment can be made without adverse tax consequences to the Company. Notwithstanding the foregoing, if
full payment in United States Dollars (“Dollars”) at each agency maintained by the Company outside the United States
for payment on such Unregistered Securities or coupons appertaining thereto is illegal or effectively precluded by exchange controls or
other similar restrictions, payments in Dollars of Unregistered Securities of any series and coupons appertaining thereto which are payable
in Dollars may be made at an agency of the Company maintained in the Borough of Manhattan, The City of New York, or Chicago, Illinois.

 

The Company may also from time to time designate
one or more other offices or agencies where the Securities of any series may be presented or surrendered for any or all such purposes
and may from time to time rescind such designations; provided that no such designation or rescission shall in any manner relieve the Company
of its obligation to maintain an office or agency in the Borough of Manhattan, The City of New York, or Chicago, Illinois for such purposes.
The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of
any such other office or agency.

 

Section 4.03. Securityholders’ Lists.
The Company will furnish or cause to be furnished to the Trustee a list in such form as the Trustee may reasonably require of the
names and addresses of the holders of the Securities pursuant to Section 312 of the Trust Indenture Act (a) semi-annually not more than
15 days after each record date for the payment of semi-annual interest on the Securities, as hereinabove specified, as of such record
date, and (b) at such other times as the Trustee may request in writing, within thirty days after receipt by the Company of any such request
as of a date not more than 15 days prior to the time such information is furnished.

 

Section 4.04. Certificate to Trustee. The
Company will furnish to the Trustee annually, on or before a date not more than four months after the end of its fiscal year (which, on
the date hereof, is a calendar year), a brief certificate (which need not contain the statements required by Section 10.04) from its principal
executive, financial or accounting officer as to his or her knowledge of the compliance of the Company with all conditions and covenants
under this Indenture (such compliance to be determined without regard to any period of grace or requirement of notice provided under this
Indenture) which certificate shall comply with the requirements of the Trust Indenture Act.

 

Section 4.05. Reports by the Company. The
Company covenants to file with the Trustee, within 15 days after the Company is required to file the same with the Commission, copies
of the annual reports and of the information, documents, and other reports which the Company may be required to file with the Commission
pursuant to Section 13 or Section 15(d) of the Exchange Act.

 

Section 4.06. Additional Amounts. If the
Securities of a series provide for the payment of additional amounts, at least 10 days prior to the first interest payment date with respect
to that series of Securities and at least 10 days prior to each date of payment of Principal of or interest on the Securities of that
series if there has been a change with respect to the matters set forth in the below-mentioned Officers’ Certificate, the Company
shall furnish to the Trustee and the principal paying agent, if other than the Trustee, an Officers’ Certificate instructing the
Trustee and such paying agent whether such payment of Principal of or interest on the Securities of that series shall be made to Holders
of the Securities of that series without withholding or deduction for or on account of any tax, assessment or other governmental charge
described in the Securities of that series. If any such withholding or deduction shall be required, then such Officers’ Certificate
shall specify by country the amount, if any, required to be withheld or deducted on such payments to such Holders and shall certify the
fact that additional amounts will be payable and the amounts so payable to each Holder, and the Company shall pay to the Trustee or such
paying agent the additional amounts required to be paid by this Section. The Company covenants to indemnify the Trustee and any paying
agent for, and to hold them harmless against, any loss, liability or expense reasonably incurred without negligence or bad faith on their
part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officers’ Certificate furnished
pursuant to this Section.

 

    20 

     

    

 

Whenever in this Indenture there is mentioned,
in any context, the payment of the Principal of or interest or any other amounts on, or in respect of, any Security of any series, such
mention shall be deemed to include mention of the payment of additional amounts provided by the terms of such series established hereby
or pursuant hereto to the extent that, in such context, additional amounts are, were or would be payable in respect thereof pursuant to
such terms, and express mention of the payment of additional amounts (if applicable) in any provision hereof shall not be construed as
excluding the payment of additional amounts in those provisions hereof where such express mention is not made.

 

ARTICLE 5

Successor
Corporation

 

Section 5.01. When Company May Merge, Etc.
The Company shall not consolidate with, merge with or into, or sell, convey, transfer, lease or otherwise dispose of all or substantially
all of its property and assets (in one transaction or a series of related transactions) to, any Person unless either (x) the Company shall
be the continuing Person or (y) the Person (if other than the Company) formed by such consolidation or into which the Company is merged
or to which properties and assets of the Company shall be sold, conveyed, transferred or leased shall be a corporation organized and validly
existing under the laws of the United States of America or any jurisdiction thereof and shall expressly assume, by a supplemental indenture,
executed and delivered to the Trustee, all of the obligations of the Company on all of the Securities and under this Indenture and the
Company in the case of clauses (x) and (y) shall have delivered to the Trustee (A) an Opinion of Counsel stating that such consolidation,
merger or sale, conveyance, transfer or lease and such supplemental indenture (if any) complies with this provision and that all conditions
precedent provided for herein relating to such transaction have been complied with and that such supplemental indenture (if any) constitutes
the legal, valid and binding obligation of the Company and such successor enforceable against such entity in accordance with its terms,
subject to customary exceptions and (B) an Officers’ Certificate to the effect that immediately after giving effect to such transaction,
no Default shall have occurred and be continuing.

 

Section 5.02. Successor Substituted. Upon
any consolidation or merger, or any sale, conveyance, transfer, lease or other disposition of all or substantially all of the property
and assets of the Company in accordance with Section 5.01 of this Indenture, the successor Person formed by such consolidation or into
which the Company is merged or to which such sale, conveyance, transfer, lease or other disposition is made shall succeed to, and be substituted
for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had
been named as the Company herein and thereafter the predecessor Person, except in the case of a lease, shall be relieved of all obligations
and covenants under this Indenture and the Securities.

 

ARTICLE 6

Default
and Remedies

 

Section 6.01. Events of Default. An “Event
of Default” shall occur with respect to the Securities of any series if:

 

(a)       the
Company defaults in the payment of the Principal of any Security of such series when the same becomes due and payable at maturity, upon
acceleration, redemption or mandatory repurchase, including as a sinking fund installment, or otherwise;

 

    21 

     

    

 

(b)       the
Company defaults in the payment of interest on any Security of such series when the same becomes due and payable, and such default continues
for a period of 30 days;

 

(c)       the
Company defaults in the performance of or breaches any other covenant or agreement of the Company in this Indenture with respect to any
Security of such series or in the Securities of such series and such default or breach continues for a period of 30 consecutive days after
written notice to the Company by the Trustee or to the Company and the Trustee by the Holders of 25% or more in aggregate principal amount
of the Securities of all series affected thereby specifying such default or breach and requiring it to be remedied and stating that such
notice is a “Notice of Default” hereunder;

 

(d)       a
court having jurisdiction in the premises shall enter a decree or order for relief in respect of the Company in an involuntary case under
any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee,
custodian, trustee, sequestrator (or similar official) of the Company or for any substantial part of its property or ordering the winding
up or liquidation of its affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days;

 

(e)       the
Company (i) commences a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or
consents to the entry of an order for relief in an involuntary case under any such law, (ii) consents to the appointment of or taking
possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Company or for all or substantially
all of the property and assets of the Company or (iii) effects any general assignment for the benefit of creditors; or

 

(f)       any
other Event of Default established pursuant to Section 2.03 with respect to the Securities of such series occurs.

 

Section 6.02. Acceleration. (a) If an Event
of Default other than as described in clauses (d) or (e) of Section 6.01 with respect to the Securities of any series then outstanding
occurs and is continuing, then, and in each and every such case, except for any series of Securities the principal of which shall have
already become due and payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities
of any such series then outstanding hereunder (each such series treated as a separate class) by notice in writing to the Company (and
to the Trustee if given by Securityholders), may declare the entire principal (or, if the Securities of any such series are Original Issue
Discount Securities, such portion of the principal amount as may be specified in the terms of such series established pursuant to Section
2.03) of all Securities of such series, and the interest accrued thereon, if any, to be due and payable immediately, and upon any such
declaration the same shall become immediately due and payable.

 

(b)       If
an Event of Default described in clause (d) or (e) of Section 6.01 occurs and is continuing, then the principal amount (or, if any Securities
are Original Issue Discount Securities, such portion of the principal as may be specified in the terms thereof established pursuant to
Section 2.03) of all the Securities then outstanding and interest accrued thereon, if any, shall be and become immediately due and payable,
without any notice or other action by any Holder or the Trustee, to the full extent permitted by applicable law.

 

The foregoing provisions, however, are subject
to the condition that if, at any time after the principal (or, if the Securities are Original Issue Discount Securities, such portion
of the principal as may be specified in the terms thereof established pursuant to Section 2.03) of the Securities of any series (or of
all the Securities, as the case may be) shall have been so declared or become due and payable, and before any judgment or decree for the
payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the
Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of each such series (or of all the Securities,
as the case may be) and the principal of any and all Securities of each such series (or of all the Securities, as the case may be) which
shall have become due otherwise than by acceleration (with interest upon such principal and, to the extent that payment of such interest
is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest or Yield to Maturity
(in the case of Original Issue Discount Securities) specified in the Securities of each such series to the date of such payment or deposit)
and such amount as shall be sufficient to cover all amounts owing the Trustee under Section 7.07, and if any and all Events of Default
under the Indenture, other than the non-payment of the principal of Securities which shall have become due by acceleration, shall have
been cured, waived or otherwise remedied as provided herein, then and in every such case the Holders of a majority in aggregate principal
amount of all the then outstanding Securities of all such series that have been accelerated (voting as a single class), by written notice
to the Company and to the Trustee, may waive all defaults with respect to all such series (or with respect to all the Securities, as the
case may be) and rescind and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend
to or shall affect any subsequent default or shall impair any right consequent thereon.

 

    22 

     

    

 

For all purposes under this Indenture, if a portion
of the principal of any Original Issue Discount Securities shall have been accelerated and declared or become due and payable pursuant
to the provisions hereof, then, from and after such declaration, unless such declaration has been rescinded and annulled, the principal
amount of such Original Issue Discount Securities shall be deemed, for all purposes hereunder, to be such portion of the principal thereof
as shall be due and payable as a result of such acceleration, and payment of such portion of the principal thereof as shall be due and
payable as a result of such acceleration, together with interest, if any, thereon and all other amounts owing thereunder, shall constitute
payment in full of such Original Issue Discount Securities.

 

Section 6.03. Other Remedies. If a payment
default or an Event of Default with respect to the Securities of any series occurs and is continuing, the Trustee may pursue, in its own
name or as trustee of an express trust, any available remedy by proceeding at law or in equity to collect the payment of Principal of
and interest on the Securities of such series or to enforce the performance of any provision of the Securities of such series or this
Indenture.

 

The Trustee may maintain a proceeding even if
it does not possess any of the Securities or does not produce any of them in the proceeding.

 

Section 6.04. Waiver of Past Defaults. Subject
to Sections 6.02, 6.07 and 9.02, the Holders of at least a majority in principal amount (or, if the Securities are Original Issue Discount
Securities, such portion of the principal as is then accelerable under Section 6.02) of the outstanding Securities of all series affected
(voting as a single class), by notice to the Trustee, may waive an existing Default or Event of Default with respect to the Securities
of such series and its consequences, except a Default in the payment of Principal of or interest on any Security as specified in clauses
(a) or (b) of Section 6.01 or in respect of a covenant or provision of this Indenture which cannot be modified or amended without the
consent of the Holder of each outstanding Security affected. Upon any such waiver, such Default shall cease to exist, and any Event of
Default with respect to the Securities of such series arising therefrom shall be deemed to have been cured, for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

 

Section 6.05. Control by Majority. Subject
to Sections 7.01 and 7.02(e), the Holders of at least a majority in aggregate principal amount (or, if any Securities are Original Issue
Discount Securities, such portion of the principal as is then accelerable under Section 6.02) of the outstanding Securities of all series
affected (voting as a single class) may direct the time, method and place of conducting any proceeding for any remedy available to the
Trustee or exercising any trust or power conferred on the Trustee with respect to the Securities of such series by this Indenture; provided,
that the Trustee may refuse to follow any direction that conflicts with law or this Indenture, that may involve the Trustee in personal
liability or that the Trustee determines in good faith may be unduly prejudicial to the rights of Holders not joining in the giving of
such direction; and provided further, that the Trustee may take any other action it deems proper that is not inconsistent with any directions
received from Holders of Securities pursuant to this Section 6.05.

 

Section 6.06. Limitation on Suits. No Holder
of any Security of any series may institute any proceeding, judicial or otherwise, with respect to this Indenture or the Securities of
such series, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless:

 

    23 

     

    

 

(a)       such
Holder has previously given to the Trustee written notice of a continuing Event of Default with respect to the Securities of such series;

 

(b)       the
Holders of at least 25% in aggregate principal amount of outstanding Securities of all such series affected shall have made written request
to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 

(c)       such
Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to the Trustee against any costs, liabilities or expenses
to be incurred in compliance with such request;

 

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

 

(e)       during
such 60-day period, the Holders of a majority in aggregate principal amount of the outstanding Securities of all such affected series
have not given the Trustee a direction that is inconsistent with such written request.

 

A Holder may not use this Indenture to prejudice
the rights of another Holder or to obtain a preference or priority over such other Holder.

 

Section 6.07. Rights of Holders to Receive
Payment. Notwithstanding any other provision of this Indenture, the right of any Holder of a Security to receive payment of Principal
of or interest, if any, on such Holder’s Security on or after the respective due dates expressed on such Security, or to bring suit
for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such
Holder.

 

Section 6.08. Collection Suit by Trustee. If
an Event of Default with respect to the Securities of any series in payment of Principal or interest specified in clause (a) or (b) of
Section 6.01 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the
Company for the whole amount (or such portion thereof as specified in the terms established pursuant to Section 2.03 of Original Issue
Discount Securities) of Principal of, and accrued interest remaining unpaid on, together with interest on overdue Principal of, and, to
the extent that payment of such interest is lawful, interest on overdue installments of interest on, the Securities of such series, in
each case at the rate or Yield to Maturity (in the case of Original Issue Discount Securities) specified in such Securities, and such
further amount as shall be sufficient to cover all amounts owing the Trustee under Section 7.07.

 

Section 6.09. Trustee May File Proofs of Claim.
The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims
of the Trustee (including any claim for amounts due the Trustee under Section 7.07) and the Holders allowed in any judicial proceedings
relative to the Company (or any other obligor on the Securities), its creditors or its property and shall be entitled and empowered to
collect and receive any moneys, securities or other property payable or deliverable upon conversion or exchange of the Securities or upon
any such claims and to distribute the same, and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar
official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that
the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it under Section
7.07. Nothing herein contained shall be deemed to empower the Trustee to authorize or consent to, or accept or adopt on behalf of any
Holder, any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof,
or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

Section 6.10. Application of Proceeds. Any
moneys collected by the Trustee pursuant to this Article in respect of the Securities of any series shall be applied in the following
order at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of Principal or interest, upon
presentation of the several Securities and coupons appertaining to such Securities in respect of which moneys have been collected and
noting thereon the payment, or issuing Securities of such series and tenor in reduced principal amounts in exchange for the presented
Securities of such series and tenor if only partially paid, or upon surrender thereof if fully paid:

 

    24 

     

    

 

FIRST: To the payment of all amounts
due the Trustee under Section 7.07 applicable to the Securities of such series in respect of which moneys have been collected;

 

SECOND: Subject to Article 11, in
case the principal of the Securities of such series in respect of which moneys have been collected shall not have become and be then due
and payable, to the payment of interest on the Securities of such series in default in the order of the maturity of the installments of
such interest, with interest (to the extent that such interest has been collected by the Trustee) upon the overdue installments of interest
at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in such Securities,
such payments to be made ratably to the persons entitled thereto, without discrimination or preference;

 

THIRD: Subject to Article 11, in
case the principal of the Securities of such series in respect of which moneys have been collected shall have become and shall be then
due and payable, to the payment of the whole amount then owing and unpaid upon all the Securities of such series for Principal and interest,
with interest upon the overdue Principal, and (to the extent that such interest has been collected by the Trustee) upon overdue installments
of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified
in the Securities of such series; and in case such moneys shall be insufficient to pay in full the whole amount so due and unpaid upon
the Securities of such series, then to the payment of such Principal and interest or Yield to Maturity, without preference or priority
of Principal over interest or Yield to Maturity, or of interest or Yield to Maturity over Principal, or of any installment of interest
over any other installment of interest, or of any Security of such series over any other Security of such series, ratably to the aggregate
of such Principal and accrued and unpaid interest or Yield to Maturity; and

 

FOURTH: To the payment of the remainder,
if any, to the Company or any other person lawfully entitled thereto.

 

Section 6.11. Restoration of Rights and Remedies.
If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding
has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then, and in every
such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored to their former
positions hereunder and thereafter all rights and remedies of the Company, Trustee and the Holders shall continue as though no such proceeding
had been instituted.

 

Section 6.12. Undertaking for Costs. In
any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as Trustee, in either case in respect to the Securities of any series, a court may require any party litigant in such suit (other
than the Trustee) to file an undertaking to pay the costs of the suit, and the court may assess reasonable costs, including reasonable
attorneys’ fees, against any party litigant (other than the Trustee) in the suit having due regard to the merits and good faith
of the claims or defenses made by the party litigant. This Section 6.12 does not apply to a suit by a Holder pursuant to Section 6.07,
a suit instituted by the Trustee or a suit by Holders of more than 10% in principal amount of the outstanding Securities of such series.

 

Section 6.13. Rights and Remedies Cumulative.
Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or wrongfully taken Securities
in Section 2.08, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of
any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other
right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right
or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section 6.14. Delay or Omission not Waiver.
No delay or omission of the Trustee or of any Holder to exercise any right or remedy accruing upon any Event of Default shall impair
any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given
by this Article 6 or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient,
by the Trustee or by the Holders, as the case may be.

 

    25 

     

    

 

ARTICLE 7

Trustee

 

Section 7.01. General. The duties and responsibilities
of the Trustee shall be as provided by the Trust Indenture Act and as set forth herein. Notwithstanding the foregoing, no provision of
this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance
of any of its duties hereunder, or in the exercise of any of its rights or powers, unless it receives indemnity satisfactory to it against
any loss, liability or expense. Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct
or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Article 7.

 

Section 7.02. Certain Rights of Trustee. Subject
to Trust Indenture Act Sections 315(a) through (d):

 

(a)       the
Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, Officers’ Certificate,
Opinion of Counsel (or both), statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note,
other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper
person or persons. The Trustee need not investigate any fact or matter stated in the document, but the Trustee, in its discretion, may
make such further inquiry or investigation into such facts or matters as it may see fit;

 

(b)       before
the Trustee acts or refrains from acting, it may require an Officers’ Certificate and/or an Opinion of Counsel, which shall conform
to Section 10.04 and shall cover such other matters as the Trustee may reasonably request. The Trustee shall not be liable for any action
it takes or omits to take in good faith in reliance on such certificate or opinion. Subject to Sections 7.01 and 7.02, whenever in the
administration of the trusts of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established
prior to taking or suffering or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically
prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established
by an Officers’ Certificate delivered to the Trustee, and such certificate, in the absence of negligence or bad faith on the part
of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture
upon the faith thereof;

 

(c)       the
Trustee may act through its attorneys and agents not regularly in its employ and shall not be responsible for the misconduct or negligence
of any agent or attorney appointed with due care;

 

(d)       any
request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate
(unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced to the Trustee
by a copy thereof certified by the Secretary or an Assistant Secretary of the Company;

 

(e)       the
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction
of any of the Holders, unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses
and liabilities that might be incurred by it in compliance with such request or direction;

 

(f)       the
Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within its rights
or powers or for any action it takes or omits to take in accordance with the direction of the Holders in accordance with Section 6.05
relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or
power conferred upon the Trustee, under this Indenture;

 

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

 

    26 

     

    

 

(h)       prior
to the occurrence of an Event of Default hereunder and after the curing or waiving of all Events of Default, the Trustee shall not be
bound to make any investigation into the facts or matters stated in any resolution, certificate, Officers’ Certificate, Opinion
of Counsel, Board Resolution, statement, instrument, opinion, report, notice, request, consent, order, approval, appraisal, bond, debenture,
note, coupon, security, or other paper or document unless requested in writing so to do by the Holders of not less than a majority in
aggregate principal amount of the Securities of all series affected then outstanding; provided that, if the payment within a reasonable
time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion
of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require
reasonable indemnity against such expenses or liabilities as a condition to proceeding.

 

Section 7.03. Individual Rights of Trustee.
The Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with the
Company or its Affiliates with the same rights it would have if it were not the Trustee. Any Agent may do the same with like rights. However,
the Trustee is subject to Trust Indenture Act Sections 310(b) and 311. For purposes of Trust Indenture Act Section 311(b)(4) and (6),
the following terms shall mean:

 

(a)       “cash
transaction” means any transaction in which full payment for goods or securities sold is made within seven days after delivery
of the goods or securities in currency or in checks or other orders drawn upon banks or bankers and payable upon demand; and

 

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

 

Section 7.04. Trustee’s Disclaimer. The
recitals contained herein and in the Securities (except the Trustee’s certificate of authentication) shall be taken as statements
of the Company and not of the Trustee and the Trustee assumes no responsibility for the correctness of the same. Neither the Trustee nor
any of its agents (a) makes any representation as to the validity or adequacy of this Indenture or the Securities and (b) shall be accountable
for the Company’s use or application of the proceeds from the Securities.

 

Section 7.05. Notice of Default. If any
Default with respect to the Securities of any series occurs and is continuing and if such Default is known to the actual knowledge of
a Responsible Officer with the Corporate Trust Department of the Trustee, the Trustee shall give to each Holder of Securities of such
series notice of such Default within 90 days after it occurs (a) if any Unregistered Securities of such series are then outstanding, to
the Holders thereof, by publication at least once in an Authorized Newspaper in the Borough of Manhattan, The City of New York and at
least once in an Authorized Newspaper in London and (b) to all Holders of Securities of such series in the manner and to the extent provided
in Section 313(c) of the Trust Indenture Act, unless such Default shall have been cured or waived before the mailing or publication of
such notice; provided, however, that, except in the case of a Default in the payment of the Principal of or interest on any Security,
the Trustee shall be protected in withholding such notice if the Trustee in good faith determines that the withholding of such notice
is in the interests of the Holders.

 

Section 7.06. Reports by Trustee to Holders.
The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required
pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. If required by Section 313(a) of the Trust
Indenture Act, the Trustee shall, within 60 days after each May 15 following the date of this Indenture, deliver to Holders a brief report,
dated as of such May 15, which complies with the provisions of such Section 313(a).

 

    27 

     

    

 

A copy of each such report shall, at the time
of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities are listed, with the Commission
and with the Company. The Company will promptly notify the Trustee when any Securities are listed on any stock exchange.

 

Section 7.07. Compensation and Indemnity. The
Company shall pay to the Trustee such compensation as shall be agreed upon in writing from time to time for its services. The compensation
of the Trustee shall not be limited by any law on compensation of a Trustee of an express trust. The Company shall reimburse the Trustee
and any predecessor Trustee upon request for all reasonable out-of-pocket expenses, disbursements and advances incurred or made by the
Trustee or such predecessor Trustee. Such expenses shall include the reasonable compensation and expenses of the Trustee’s or such
predecessor Trustee’s agents, counsel and other persons not regularly in their employ.

 

The Company shall indemnify the Trustee and any
predecessor Trustee for, and hold them harmless against, any loss or liability or expense incurred by them without negligence or bad faith
on their part arising out of or in connection with the acceptance or administration of this Indenture and the Securities or the issuance
of the Securities or of series thereof or the trusts hereunder and the performance of duties under this Indenture and the Securities,
including the costs and expenses of defending themselves against or investigating any claim or liability and of complying with any process
served upon them or any of their officers in connection with the exercise or performance of any of their powers or duties under this Indenture
and the Securities.

 

To secure the Company’s payment obligations
in this Section 7.07, the Trustee shall have a lien prior to the Securities on all money or property held or collected by the Trustee,
in its capacity as Trustee, except money or property held in trust to pay Principal of, and interest on particular Securities.

 

The obligations of the Company under this Section
to compensate and indemnify the Trustee and each predecessor Trustee and to pay or reimburse the Trustee and each predecessor Trustee
for expenses, disbursements and advances shall constitute additional indebtedness hereunder and shall survive the satisfaction and discharge
of this Indenture or the rejection or termination of this Indenture under bankruptcy law. Such additional indebtedness shall be a senior
claim to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the
benefit of the Holders of particular Securities or coupons, and the Securities are hereby subordinated to such senior claim. Without prejudice
to any other rights available to the Trustee under applicable law, if the Trustee renders services and incurs expenses following an Event
of Default under Section 6.01(d) or Section 6.01(e) hereof, the parties hereto and the holders by their acceptance of the Securities hereby
agree that such expenses are intended to constitute expenses of administration under any bankruptcy law.

 

Section 7.08. Replacement of Trustee. A
resignation or removal of the Trustee as Trustee with respect to the Securities of any series and appointment of a successor Trustee as
Trustee with respect to the Securities of any series shall become effective only upon the successor Trustee’s acceptance of appointment
as provided in this Section 7.08.

 

The Trustee may resign as Trustee with respect
to the Securities of any series at any time by so notifying the Company in writing. The Holders of a majority in principal amount of the
outstanding Securities of any series may remove the Trustee as Trustee with respect to the Securities of such series by so notifying the
Trustee in writing and may appoint a successor Trustee with respect thereto with the consent of the Company. The Company may remove the
Trustee as Trustee with respect to the Securities of any series if: (i) the Trustee is no longer eligible under Section 7.11 of this Indenture;
(ii) the Trustee is adjudged a bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property;
or (iv) the Trustee becomes incapable of acting.

 

If the Trustee resigns or is removed as Trustee
with respect to the Securities of any series, or if a vacancy exists in the office of Trustee with respect to the Securities of any series
for any reason, the Company shall promptly appoint a successor Trustee with respect thereto. Within one year after the successor Trustee
takes office, the Holders of a majority in principal amount of the outstanding Securities of such series may appoint a successor Trustee
in respect of such Securities to replace the successor Trustee appointed by the Company. If the successor Trustee with respect to the
Securities of any series does not deliver its written acceptance required by Section 7.09 within 30 days after the retiring Trustee resigns
or is removed, the retiring Trustee, the Company or the Holders of a majority in principal amount of the outstanding Securities of such
series may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect thereto.

 

    28 

     

    

 

The Company shall give notice of any resignation
and any removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee in respect of
the Securities of such series to all Holders of Securities of such series. Each notice shall include the name of the successor Trustee
and the address of its Corporate Trust Office.

 

Notwithstanding replacement of the Trustee with
respect to the Securities of any series pursuant to this Section 7.08 and Section 7.09, the Company’s obligations under Section
7.07 shall continue for the benefit of the retiring Trustee.

 

Section 7.09. Acceptance of Appointment by
Successor. In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee
so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment,
and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further
act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request
of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges and subject to the lien provided for
in Section 7.07, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring
Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder.

 

In case of the appointment hereunder of a successor
Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee
with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor
Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm
to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect
to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts
and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring
shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing
herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall
be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee;
and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective
to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with
all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly
assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to
the Securities of that or those series to which the appointment of such successor Trustee relates.

 

Upon request of any such successor Trustee, the
Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such
rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be.

 

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

 

Section 7.10. Successor Trustee By Merger,
Etc. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business
to, another corporation or national banking association, the resulting, surviving or transferee corporation or national banking association
without any further act shall be the successor Trustee with the same effect as if the successor Trustee had been named as the Trustee
herein.

 

    29 

     

    

 

Section 7.11. Eligibility. This Indenture
shall always have a Trustee who satisfies the requirements of Trust Indenture Act Section 310(a). The Trustee shall have a combined capital
and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition.

 

Section 7.12. Money Held in Trust. The
Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company. Money
held in trust by the Trustee need not be segregated from other funds except to the extent required by law and except for money held in
trust under Article 8 of this Indenture.

 

ARTICLE 8

Satisfaction
and Discharge of Indenture; Unclaimed Moneys

 

Section 8.01. Satisfaction and Discharge of
Indenture. If at any time (a) the Company shall have paid or caused to be paid the Principal of and interest on all the Securities
of any series outstanding hereunder (other than Securities of such series which have been destroyed, lost or stolen and which have been
replaced or paid as provided in Section 2.08) as and when the same shall have become due and payable, or (b) the Company shall have delivered
to the Trustee for cancellation all Securities of any series theretofore authenticated (other than any Securities of such series which
shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section 2.08) or (c) (i) all the securities
of such series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become
due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for
the giving of notice of redemption, and (ii) the Company shall have irrevocably deposited or caused to be deposited with the Trustee as
trust funds the entire amount in cash (other than moneys repaid by the Trustee or any paying agent to the Company in accordance with Section
8.04) or U.S. Government Obligations, maturing as to principal and interest in such amounts and at such times as will insure (without
consideration of the reinvestment of such interest) the availability of cash, or a combination thereof, sufficient to pay at maturity
or upon redemption all Securities of such series (other than any Securities of such series which shall have been destroyed, lost or stolen
and which shall have been replaced or paid as provided in Section 2.08) not theretofore delivered to the Trustee for cancellation, including
principal and interest due or to become due on or prior to such date of maturity or redemption as the case may be, and if, in any such
case, the Company is not prohibited from making payments in respect of the Securities by Article 11 hereof and shall also pay or cause
to be paid all other sums payable hereunder by the Company with respect to Securities of such series, then this Indenture shall cease
to be of further effect with respect to Securities of such series (except as to (i) rights of registration of transfer and exchange of
securities of such series, and the Company’s right of optional redemption, if any, (ii) substitution of mutilated, defaced, destroyed,
lost or stolen Securities, (iii) rights of holders to receive payments of principal thereof and interest thereon, upon the original stated
due dates therefor (but not upon acceleration) and remaining rights of the holders to receive mandatory sinking fund payments, if any,
(iv) the rights, obligations and immunities of the Trustee hereunder and (v) the rights of the Securityholders of such series as beneficiaries
hereof with respect to the property so deposited with the Trustee payable to all or any of them), and the Trustee, on demand of the Company
accompanied by an Officers’ Certificate and an Opinion of Counsel and at the cost and expense of the Company, shall execute proper
instruments acknowledging such satisfaction of and discharging this Indenture with respect to such series; provided, that the rights of
Holders of the Securities to receive amounts in respect of Principal of and interest on the Securities held by them shall not be delayed
longer than required by then-applicable mandatory rules or policies of any securities exchange upon which the Securities are listed. The
Company agrees to reimburse the Trustee for any costs or expenses thereafter reasonably and properly incurred and to compensate the Trustee
for any services thereafter reasonably and properly rendered by the Trustee in connection with this Indenture or the Securities of such
series.

 

Section 8.02. Application by Trustee of Funds
Deposited for Payment of Securities. Subject to Section 8.04, all moneys (including U.S. Government Obligations and the proceeds thereof)
deposited with the Trustee pursuant to Section 8.01, Section 8.05 or Section 8.06 shall be held in trust and applied by it to the payment,
either directly or through any paying agent to the Holders of the particular Securities of such series for the payment or redemption of
which such moneys have been deposited with the Trustee, of all sums due and to become due thereon for Principal and interest; but such
money need not be segregated from other funds except to the extent required by law. Funds and U.S. Government Obligations held in trust
under Section 8.01, 8.05 or 8.06 shall not be subject to the claims of the holders of Senior Indebtedness under Article 11.

 

    30 

     

    

 

Section 8.03. Repayment of Moneys Held by Paying
Agent. In connection with the satisfaction and discharge of this Indenture with respect to Securities of any series, all moneys then
held by any paying agent under the provisions of this Indenture with respect to such series of Securities shall, upon demand of the Company,
be repaid to it or paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such
moneys.

 

Section 8.04. Return of Moneys Held by Trustee
and Paying Agent Unclaimed for Two Years. Any moneys deposited with or paid to the Trustee or any paying agent for the payment of
the Principal of or interest on any Security of any series and not applied but remaining unclaimed for two years after the date upon which
such Principal or interest shall have become due and payable, shall, upon the written request of the Company and unless otherwise required
by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company by the Trustee for such
series or such paying agent, and the Holder of the Security of such series shall, unless otherwise required by mandatory provisions of
applicable escheat or abandoned or unclaimed property laws, thereafter look only to the Company for any payment which such Holder may
be entitled to collect, and all liability of the Trustee or any paying agent with respect to such moneys shall thereupon cease.

 

Section 8.05. Defeasance and Discharge of Indenture.
The Company shall be deemed to have paid and shall be discharged from any and all obligations in respect of the Securities of any
series, on the 123rd day after the deposit referred to in clause (i) hereof has been made, and the provisions of this Indenture shall
no longer be in effect with respect to the Securities of such series (and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging the same), except as to: (a) rights of registration of transfer and exchange, and the Company’s right
of optional redemption, (b) substitution of apparently mutilated, defaced, destroyed, lost or stolen Securities, (c) rights of holders
to receive payments of principal thereof and interest thereon, upon the original stated due dates therefor (but not upon acceleration),
(d) the rights, obligations and immunities of the Trustee hereunder and (e) the rights of the Securityholders of such series as beneficiaries
hereof with respect to the property so deposited with the Trustee payable to all or any of them; provided that the following conditions
shall have been satisfied:

 

(i)       with
reference to this provision the Company has deposited or caused to be irrevocably deposited with the Trustee (or another qualifying trustee
satisfying the requirements of Section 7.11) as trust funds in trust, specifically pledged as security for, and dedicated solely to, the
benefit of the Holders of the Securities of such series, (A) money in an amount, or (B) U.S. Government Obligations which through the
payment of interest and principal in respect thereof in accordance with their terms will provide not later than one day before the due
date of any payment referred to in subclause (x) or (y) of this clause (i) money in an amount, or (C) a combination thereof, sufficient,
in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered
to the Trustee, to pay and discharge without consideration of the reinvestment of such interest and after payment of all federal, state
and local taxes or other charges and assessments in respect thereof payable by the Trustee (x) the principal of, premium, if any, and
each installment of interest on the outstanding Securities of such series on the due dates thereof and (y) any mandatory sinking fund
payments or analogous payments applicable to the Securities of such series on the day on which such payments are due and payable in accordance
with the terms of Securities of such series and the Indenture with respect to the Securities of such series;

 

(ii)       the
Company has delivered to the Trustee (A) either (x) an Opinion of Counsel to the effect that Holders of Securities of such series will
not recognize income, gain or loss for federal income tax purposes as a result of the Company’s exercise of its option under this
Section 8.05 and will be subject to federal income tax on the same amount and in the same manner and at the same times as would have been
the case if such deposit, defeasance and discharge had not occurred, which Opinion of Counsel must be based upon a ruling of the Internal
Revenue Service to the same effect or a change in applicable federal income tax law or related treasury regulations after the date of
this Indenture or (y) a ruling directed to the Trustee received from the Internal Revenue Service to the same effect as the aforementioned
Opinion of Counsel and (B) an Opinion of Counsel to the effect that the creation of the defeasance trust does not violate the Investment
Company Act of 1940, as amended, and after the passage of 123 days following the deposit, the trust fund will not be subject to the effect
of Section 547 of the U.S. Bankruptcy Code or Section 15 of the New York Debtor and Creditor Law;

 

    31 

     

    

 

(iii)       immediately
after giving effect to such deposit on a pro forma basis, no Event of Default, or event that after the giving of notice or lapse of time
or both would become an Event of Default, shall have occurred and be continuing on the date of such deposit or during the period ending
on the 123rd day after the date of such deposit, and such deposit shall not result in a breach or violation of, or constitute a default
under, any other agreement or instrument to which the Company is a party or by which the Company is bound;

 

(iv)       if
at such time the Securities of such series are listed on a national securities exchange, the Company has delivered to the Trustee an Opinion
of Counsel to the effect that the Securities of such series will not be delisted as a result of such deposit, defeasance and discharge;

 

(v)       the
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent to the defeasance and discharge under this Section have been complied with; and

 

(vi)       if
the Securities of such series are to be redeemed prior to the final maturity thereof (other than from mandatory sinking fund payments
or analogous payments), notice of such redemption shall have been duly given pursuant to this Indenture or provision therefor satisfactory
to the Trustee shall have been made.

 

Section 8.06. Defeasance of Certain Obligations.
The Company may omit to comply with any term, provision or condition set forth in, and this Indenture will no longer be in effect
with respect to, any covenant established pursuant to Section 2.03(r) and clause (c) (with respect to any covenants established pursuant
to Section 2.03(r)) and clause (f) of Section 6.01 shall be deemed not to be an Event of Default, if

 

(a)       with
reference to this Section 8.06, the Company has deposited or caused to be irrevocably deposited with the Trustee (or another qualifying
trustee satisfying the requirements of Section 7.11) as trust funds in trust, specifically pledged as security for, and dedicated solely
to, the benefit of the Holders of the Securities of such series and the Indenture with respect to the Securities of such series, (i) money
in an amount or (ii) U.S. Government Obligations which through the payment of interest and principal in respect thereof in accordance
with their terms will provide not later than one day before the due dates thereof or earlier redemption (irrevocably provided for under
agreements satisfactory to the Trustee), as the case may be, of any payment referred to in subclause (x) or (y) of this clause (a) money
in an amount, or (iii) a combination thereof, sufficient, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay and discharge without consideration of the reinvestment
of such interest and after payment of all federal, state and local taxes or other charges and assessments in respect thereof payable by
the Trustee (x) the principal of, premium, if any, and each installment of interest on the outstanding Securities on the due date thereof
or earlier redemption (irrevocably provided for under arrangements satisfactory to the Trustee), as the case may be, and (y) any mandatory
sinking fund payments or analogous payments applicable to the Securities of such series and the Indenture with respect to the Securities
of such series on the day on which such payments are due and payable in accordance with the terms of the Indenture and of Securities of
such series and the Indenture with respect to the Securities of such series;

 

(b)       the
Company has delivered to the Trustee (i) an Opinion of Counsel to the effect that Holders of Securities of such series will not recognize
income, gain or loss for federal income tax purposes as a result of the Company’s exercise of its option under this Section 8.06
and will be subject to federal income tax on the same amount and in the same manner and at the same times as would have been the case
if such deposit and defeasance had not occurred and (ii) an Opinion of Counsel to the effect that the creation of the defeasance trust
does not violate the Investment Company Act of 1940, as amended, and after the passage of 123 days following the deposit, the trust fund
will not be subject to the effect of Section 547 of the U.S. Bankruptcy Code or Section 15 of the New York Debtor and Creditor Law;

 

    32 

     

    

 

(c)       immediately
after giving effect to such deposit on a pro forma basis, no Event of Default, or event that after the giving of notice or lapse of time
or both would become an Event of Default, shall have occurred and be continuing on the date of such deposit or during the period ending
on the 123rd day after the date of such deposit, and such deposit shall not result in a breach or violation of, or constitute a default
under, any other agreement or instrument to which the Company is a party or by which the Company is bound;

 

(d)       if
at such time the Securities of such series are listed on a national securities exchange, the Company has delivered to the Trustee an Opinion
of Counsel to the effect that the Securities of such series will not be delisted as a result of such deposit, defeasance and discharge;
and

 

(e)       the
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent to the defeasance under this Section have been complied with.

 

Section 8.07. Reinstatement. If the Trustee
or paying agent is unable to apply any monies or U.S. Government Obligations in accordance with Article 8 by reason of any legal proceeding
or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application,
the Company’s obligations under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred
pursuant to this Article until such time as the Trustee or paying agent is permitted to apply all such monies or U.S. Government Obligations
in accordance with Article 8; provided, however, that if the Company has made any payment of Principal of or interest on any Securities
because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive
such payment from the monies or U.S. Government Obligations held by the Trustee or paying agent.

 

Section 8.08. Indemnity. The Company shall
pay and indemnify the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.08 and Section 8.02, the “Trustee”)
against any tax, fee or other charge, imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 8.01,
8.05 or 8.06 or the principal or interest received in respect thereof other than any such tax, fee or other charge which by law is for
the account of the Holders of the Securities and any coupons appertaining thereto.

 

Section 8.09. Excess Funds. Anything in
this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon request of the
Company, any money or U.S. Government Obligations (or other property and any proceeds therefrom) held by it as provided in Section 8.01,
8.05 or 8.06 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect a discharge
or defeasance, as applicable, in accordance with this Article 8.

 

Section 8.10. Qualifying Trustee. Any trustee
appointed pursuant to Section 8.05 or 8.06 for the purpose of holding money or U.S. Government Obligations deposited pursuant to such
Sections shall be appointed under an agreement in form acceptable to the Trustee and shall provide to the Trustee a certificate, upon
which certificate the Trustee shall be entitled to conclusively rely, that all conditions precedent provided for herein to the related
defeasance have been complied with. In no event shall the Trustee be liable for any acts or omissions of said trustee.

 

ARTICLE 9

Amendments,
Supplements and Waivers

 

Section 9.01. Without Consent of Holders. The
Company and the Trustee may amend or supplement this Indenture or the Securities of any series without notice to or the consent of any
Holder:

 

    33 

     

    

 

(a)       to
cure any ambiguity, defect or inconsistency in this Indenture; provided that such amendments or supplements shall not materially
and adversely affect the interests of the Holders;

 

(b)       to
comply with Article 5;

 

(c)       to
comply with any requirements of the Commission in connection with the qualification of this Indenture under the Trust Indenture Act;

 

(d)       to
evidence and provide for the acceptance of appointment hereunder with respect to the Securities of any or all series by a successor Trustee
and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 7.09;

 

(e)       to
establish the form or forms or terms of Securities of any series or of the coupons appertaining to such Securities as permitted by Section
2.03;

 

(f)       to
provide for uncertificated or Unregistered Securities and to make all appropriate changes for such purpose; and

 

(g)       to
make any change that does not materially and adversely affect the rights of any Holder.

 

Section 9.02. With Consent of Holders. Subject
to Sections 6.04 and 6.07, without prior notice to any Holders, the Company and the Trustee may amend this Indenture and the Securities
of any series with the written consent of the Holders of a majority in principal amount of the outstanding Securities of all series affected
by such amendment (all such series voting as a separate class), and the Holders of a majority in principal amount of the outstanding Securities
of all series affected thereby (all such series voting as a separate class) by written notice to the Trustee may waive future compliance
by the Company with any provision of this Indenture or the Securities of such series.

 

Notwithstanding the provisions of this Section
9.02, without the consent of each Holder affected thereby, an amendment or waiver, including a waiver pursuant to Section 6.04, may not:

 

(a)       change
the stated maturity of the Principal of, or any sinking fund obligation or any installment of interest on, such Holder’s Security;

 

(b)       reduce
the Principal amount thereof or the rate of interest thereon (including any amount in respect of original issue discount);

 

(c)       reduce
the above stated percentage of outstanding Securities the consent of whose holders is necessary to modify or amend the Indenture with
respect to the Securities of the relevant series; and

 

(d)       reduce
the percentage in principal amount of outstanding Securities of the relevant series the consent of whose Holders is required for any supplemental
indenture or for any waiver of compliance with certain provisions of this Indenture or certain Defaults and their consequences provided
for in this Indenture.

 

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

 

It shall not be necessary for the consent of any
Holder under this Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient
if such consent approves the substance thereof.

 

After an amendment, supplement or waiver under
this Section 9.02 becomes effective, the Company shall give to the Holders affected thereby a notice briefly describing the amendment,
supplement or waiver. The Company will mail supplemental indentures to Holders upon request. Any failure of the Company to mail such notice,
or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver.

 

    34 

     

    

 

Section 9.03. Revocation and Effect of Consent.
Until an amendment or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every subsequent
Holder of a Security or portion of a Security that evidences the same debt as the Security of the consenting Holder, even if notation
of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to its Security or
portion of its Security. Such revocation shall be effective only if the Trustee receives the notice of revocation before the date the
amendment, supplement or waiver becomes effective. An amendment, supplement or waiver shall become effective with respect to any Securities
affected thereby on receipt by the Trustee of written consents from the requisite Holders of outstanding Securities affected thereby.

 

The Company may, but shall not be obligated to,
fix a record date (which may be not less than five nor more than 60 days prior to the solicitation of consents) for the purpose of determining
the Holders of the Securities of any series affected entitled to consent to any amendment, supplement or waiver. If a record date is fixed,
then, notwithstanding the immediately preceding paragraph, those Persons who were such Holders at such record date (or their duly designated
proxies) and only those Persons shall be entitled to consent to such amendment, supplement or waiver or to revoke any consent previously
given, whether or not such Persons continue to be such Holders after such record date. No such consent shall be valid or effective for
more than 90 days after such record date.

 

After an amendment, supplement or waiver becomes
effective with respect to the Securities of any series affected thereby, it shall bind every Holder of such Securities unless it is of
the type described in any of clauses (a) through (d) of Section 9.02. In case of an amendment or waiver of the type described in clauses
(a) through (d) of Section 9.02, the amendment or waiver shall bind each such Holder who has consented to it and every subsequent Holder
of a Security that evidences the same indebtedness as the Security of the consenting Holder.

 

Section 9.04. Notation on or Exchange of Securities.
If an amendment, supplement or waiver changes the terms of any Security, the Trustee may require the Holder thereof to deliver it
to the Trustee. The Trustee may place an appropriate notation on the Security about the changed terms and return it to the Holder and
the Trustee may place an appropriate notation on any Security of such series thereafter authenticated. Alternatively, if the Company or
the Trustee so determines, the Company in exchange for the Security shall issue and the Trustee shall authenticate a new Security of the
same series and tenor that reflects the changed terms.

 

Section 9.05. Trustee to Sign Amendments, Etc.
The Trustee shall be entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel stating that the execution
of any amendment, supplement or waiver authorized pursuant to this Article 9 is authorized or permitted by this Indenture, stating that
all requisite consents have been obtained or that no consents are required and stating that such supplemental indenture constitutes the
legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, subject to customary
exceptions. The Trustee may, but shall not be obligated to, execute any such amendment, supplement or waiver that affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise.

 

Section 9.06. Conformity with Trust Indenture
Act. Every supplemental indenture executed pursuant to this Article 9 shall conform to the requirements of the Trust Indenture Act
as then in effect.

 

ARTICLE 10

Miscellaneous

 

Section 10.01. Trust Indenture Act of 1939.
This Indenture shall incorporate and be governed by the provisions of the Trust Indenture Act that are required to be part of and
to govern indentures qualified under the Trust Indenture Act.

 

    35 

     

    

 

Section 10.02. Notices. Any notice or communication
shall be sufficiently given if written and (a) if delivered in person when received or (b) if mailed by first class mail 5 days after
mailing, or (c) as between the Company and the Trustee if sent by facsimile transmission, when transmission is confirmed, in each case
addressed as follows:

 

if to the Company:

 

Charles River Laboratories International, Inc.

251 Ballardvale Street

Wilmington, MA 01887

Telecopy: (978) 988-5665

Attention: General Counsel

 

if to the Trustee:

 

U.S. Bank National Association

[Address]

Telecopy:

Attention:

 

The Company or the Trustee by written notice to
the other may designate additional or different addresses for subsequent notices or communications.

 

Any notice or communication shall be sufficiently
given to Holders of any Unregistered Securities, by publication at least once in an Authorized Newspaper in The City of New York, or with
respect to any Security the interest on which is based on the offered quotations in the interbank Eurodollar market for dollar deposits
at least once in an Authorized Newspaper in London, and by mailing to the Holders thereof who have filed their names and addresses with
the Trustee pursuant to Section 313(c)(2) of the Trust Indenture Act at such addresses as were so furnished to the Trustee and to Holders
of Registered Securities by mailing to such Holders at their addresses as they shall appear on the Security Register. Notice mailed shall
be sufficiently given if so mailed within the time prescribed. Copies of any such communication or notice to a Holder shall also be mailed
to the Trustee and each Agent at the same time.

 

Failure to mail a notice or communication to a
Holder or any defect in it shall not affect its sufficiency with respect to other Holders. Except as otherwise provided in this Indenture,
if a notice or communication is mailed in the manner provided in this Section 10.02, it is duly given, whether or not the addressee receives
it.

 

Where this Indenture provides for notice in any
manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not
be a condition precedent to the validity of any action taken in reliance upon such waiver.

 

In case it shall be impracticable to give notice
as herein contemplated, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification
for every purpose hereunder.

 

Section 10.03. Certificate and Opinion as to
Conditions Precedent. Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company
shall furnish to the Trustee:

 

(a)       an
Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture
relating to the proposed action have been complied with; and

 

(b)       an
Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

 

Section 10.04. Statements Required in Certificate
or Opinion. Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other
than the certificate required by Section 4.04) shall include:

 

    36 

     

    

 

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

 

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

 

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

 

(d)       a
statement as to whether or not, in the opinion of each such person, such condition or covenant has been complied with; provided, however,
that, with respect to matters of fact, an Opinion of Counsel may rely on an Officers’ Certificate or certificates of public officials.

 

Section 10.05. Evidence of Ownership. The
Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Holder of any Unregistered Security and the Holder
of any coupon as the absolute owner of such Unregistered Security or coupon (whether or not such Unregistered Security or coupon shall
be overdue) for the purpose of receiving payment thereof or on account thereof and for all other purposes, and neither the Company, the
Trustee, nor any agent of the Company or the Trustee shall be affected by any notice to the contrary. The fact of the holding by any Holder
of an Unregistered Security, and the identifying number of such Security and the date of his holding the same, may be proved by the production
of such Security or by a certificate executed by any trust company, bank, banker or recognized securities dealer wherever situated satisfactory
to the Trustee, if such certificate shall be deemed by the Trustee to be satisfactory. Each such certificate shall be dated and shall
state that on the date thereof a Security bearing a specified identifying number was deposited with or exhibited to such trust company,
bank, banker or recognized securities dealer by the person named in such certificate. Any such certificate may be issued in respect of
one or more Unregistered Securities specified therein. The holding by the person named in any such certificate of any Unregistered Securities
specified therein shall be presumed to continue for a period of one year from the date of such certificate unless at the time of any determination
of such holding (1) another certificate bearing a later date issued in respect of the same Securities shall be produced or (2) the Security
specified in such certificate shall be produced by some other Person, or (3) the Security specified in such certificate shall have ceased
to be outstanding. Subject to Article 7, the fact and date of the execution of any such instrument and the amount and numbers of Securities
held by the Person so executing such instrument may also be proven in accordance with such reasonable rules and regulations as may be
prescribed by the Trustee or in any other manner which the Trustee may deem sufficient.

 

The Company, the Trustee and any agent of the
Company or the Trustee may deem and treat the person in whose name any Registered Security shall be registered upon the Security Register
for such series as the absolute owner of such Registered Security (whether or not such Registered Security shall be overdue and notwithstanding
any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the Principal of and, subject
to the provisions of this Indenture, interest on such Registered Security and for all other purposes; and neither the Company nor the
Trustee nor any agent of the Company or the Trustee shall be affected by any notice to the contrary.

 

Section 10.06. Rules by Trustee, Paying Agent
or Registrar. The Trustee may make reasonable rules for action by or at a meeting of Holders. The Paying Agent or Registrar may make
reasonable rules for its functions.

 

Section 10.07. Payment Date Other Than a Business
Day. Except as otherwise provided with respect to a series of Securities, if any date for payment of Principal or interest on any
Security shall not be a Business Day at any place of payment, then payment of Principal of or interest on such Security, as the case may
be, need not be made on such date, but may be made on the next succeeding Business Day at any place of payment with the same force and
effect as if made on such date and no interest shall accrue in respect of such payment for the period from and after such date.

 

Section 10.08. Governing Law. The laws
of the State of New York shall govern this Indenture and the Securities.

 

    37 

     

    

 

Section 10.09. No Adverse Interpretation of
Other Agreements. This Indenture may not be used to interpret another indenture or loan or debt agreement of the Company or any Subsidiary
of the Company. Any such indenture or agreement may not be used to interpret this Indenture.

 

Section 10.10. Successors. All agreements
of the Company in this Indenture and the Securities shall bind its successors. All agreements of the Trustee in this Indenture shall bind
its successors.

 

Section 10.11. Duplicate Originals. The
parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the
same agreement.

 

Section 10.12. Separability. In case any
provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 10.13. Table of Contents, Headings,
Etc. The Table of Contents and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference
only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms and provisions hereof.

 

Section 10.14. Incorporators, Stockholders,
Officers and Directors of Company Exempt from Individual Liability. No recourse under or upon any obligation, covenant or agreement
contained in this Indenture or any indenture supplemental hereto, or in any Security or any coupons appertaining thereto, or because of
any indebtedness evidenced thereby, shall be had against any incorporator, as such or against any past, present or future stockholder,
officer, director or employee, as such, of the Company or of any successor, either directly or through the Company or any successor, under
any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or
otherwise, all such liability being expressly waived and released by the acceptance of the Securities and the coupons appertaining thereto
by the holders thereof and as part of the consideration for the issue of the Securities and the coupons appertaining thereto.

 

Section 10.15. Judgment Currency. The Company
agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in
any court it is necessary to convert the sum due in respect of the Principal of or interest on the Securities of any series (the “Required
Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange
used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required
Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a Business Day,
then, to the extent permitted by applicable law, the rate of exchange used shall be the rate at which in accordance with normal banking
procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the Business Day preceding
the day on which final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required
Currency (i) shall not be discharged or satisfied by any tender, or any recovery pursuant to any judgment (whether or not entered in accordance
with subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result
in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments,
(ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount,
if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable and (iii)
shall not be affected by judgment being obtained for any other sum due under this Indenture.

 

ARTICLE 11

Subordination
of Securities

 

Section 11.01. Agreement to Subordinate. The
Company covenants and agrees, and each Holder of Securities issued hereunder by his acceptance thereof likewise covenants and agrees,
that all Securities shall be issued subject to the provisions of this Article; and each person holding any Security, whether upon original
issue or upon transfer, assignment or exchange thereof accepts and agrees that the Principal of and interest on all Securities issued
hereunder shall, to the extent and in the manner herein set forth, be subordinated and subject in right of payment to the prior payment
in full of all Senior Indebtedness.

 

    38 

     

    

 

Section 11.02. Payments to Securityholders.
No payments on account of Principal of or interest on the Securities shall be made if at the time of such payment or immediately after
giving effect thereto there shall exist a default in any payment with respect to any Senior Indebtedness, and such default shall not have
been cured or waived or shall not have ceased to exist. In addition, during the continuance of any default (other than a payment default)
with respect to Designated Senior Indebtedness pursuant to which the maturity thereof may be accelerated, from and after the date of receipt
by the Trustee of written notice from the holders of such Designated Senior Indebtedness or from an agent of such holders, stating that
such default has occurred and is continuing, no payments on account of Principal or interest in respect of the Securities may be made
by the Company for a period (“Payment Blockage Period”) commencing on the date of delivery of such notice and ending 179 days
thereafter (unless such Payment Blockage Period shall be terminated by written notice to the Trustee from the holders of such Designated
Senior Indebtedness or from an agent of such holders, or such default has been cured or waived or has ceased to exist). Only one Payment
Blockage Period may be commenced with respect to the Securities during any period of 360 consecutive days. No Event of Default which existed
or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating
such Payment Blockage Period shall be or be made the basis for the commencement of any subsequent Payment Blockage Period by the holders
of such Designated Senior Indebtedness, unless such Event of Default shall have been cured or waived for a period of not less than 90
consecutive days.

 

Upon any payment or distribution of assets of
the Company of any kind or character, whether in cash, property or securities, to creditors upon any liquidation, dissolution, winding
up, receivership, reorganization, assignment for the benefit of creditors, marshalling of assets and liabilities or any bankruptcy, insolvency
or similar proceedings of the Company, all amounts due or to become due upon all Senior Indebtedness shall first be paid in full, in cash
or cash equivalents, or payment thereof provided for in accordance with its terms, before any payment is made on account of the Principal
of, or interest on the indebtedness evidenced by the Securities, and upon any such liquidation, dissolution, winding up, receivership,
reorganization, assignment, marshalling or proceeding, any payment or distribution of assets of the Company of any kind or character,
whether in cash, property or securities, to which the Holders of the Securities or the Trustee under this Indenture would be entitled,
except for the provisions hereof, shall be paid by the Company or by any receiver, trustee in bankruptcy, liquidating trustee, agent or
other Person making such payment or distribution, directly to the holders of Senior Indebtedness (pro rata to such holders on the basis
of the respective amounts of Senior Indebtedness held by such holders) or their respective representatives, or to the trustee or trustees
under any indenture pursuant to which any instruments evidencing any of such Senior Indebtedness may have been issued, as their respective
interests may appear, to the extent necessary to pay all Senior Indebtedness in full (including, without limitation, except to the extent,
if any, prohibited by mandatory provisions of law, post-petition interest, in any such proceedings), after giving effect to any concurrent
payment or distribution to or for the holders of Senior Indebtedness, before any payment or distribution is made to the holders of the
indebtedness evidenced by the Securities or to the Trustee under this Indenture.

 

In the event that, notwithstanding the foregoing,
any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, prohibited by
the foregoing, shall be received by the Trustee under this Indenture or the Holders of the Securities before all Senior Indebtedness is
paid in full or provision is made for such payment in accordance with its terms, such payment or distribution shall be held in trust for
the benefit of and shall be paid over or delivered to the holders of such Senior Indebtedness or their respective representatives, or
to the trustee or trustees under any indenture pursuant to which any instruments evidencing any of such Senior Indebtedness may have been
issued, as their respective interests may appear, for application to the payment of all Senior Indebtedness remaining unpaid until all
such Senior Indebtedness shall have been paid in full in accordance with its terms, after giving effect to any concurrent payment or distribution
to or for the holders of such Senior Indebtedness.

 

    39 

     

    

 

For purposes of this Article, the words, “cash,
property or securities” shall not be deemed to include shares of stock of the Company as reorganized or readjusted, or securities
of the Company or any other corporation provided for by a plan of arrangement, reorganization or readjustment, the payment of which is
subordinated (at least to the extent provided in this Article with respect to the Securities) to the payment of all Senior Indebtedness
which may at the time be outstanding; provided, that (i) the Senior Indebtedness is assumed by the new corporation, if any, resulting
from any such arrangement, reorganization or readjustment, and (ii) the rights of the holders of the Senior Indebtedness are not, without
the consent of such holders, altered by such arrangement, reorganization or readjustment. The consolidation of the Company with, or the
merger of the Company into, another corporation or the liquidation or dissolution of the Company following the sale, conveyance or transfer
of all or substantially all of its property and assets to another corporation upon the terms and conditions provided in Article 5 shall
not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section if such other corporation shall,
as a part of such consolidation, merger, sale, conveyance or transfer, comply with the conditions stated in Article 5. Nothing in this
Section shall apply to claims of, or payments to, the Trustee under or pursuant to Article 7. This Section shall be subject to the further
provisions of Section 11.05.

 

Section 11.03. Subrogation of Securities. Subject
to the payment in full of all Senior Indebtedness, the Holders of the Securities shall be subrogated to the rights of the holders of Senior
Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to the Senior Indebtedness
until the principal of and interest on the Securities shall be paid in full; and, for the purposes of such subrogation, no payments or
distributions to the holders of the Senior Indebtedness of any cash, property or securities to which the Holders of the Securities or
the Trustee on their behalf would be entitled except for the provisions of this Article, and no payment over pursuant to the provisions
of this Article to the holders of Senior Indebtedness by Holders of the Securities or the Trustee on their behalf shall, as between the
Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, be deemed to be a payment by the Company
to or on account of the Senior Indebtedness; and no payments or distributions of cash, property or securities to or for the benefit of
the Securityholders pursuant to the subrogation provision of this Article, which would otherwise have been paid to the holders of Senior
Indebtedness shall be deemed to be a payment by the Company to or for the account of the Securities. It is understood that the provisions
of this Article are and are intended solely for the purpose of defining the relative rights of the holders of the Securities, on the one
hand, and the Holders of the Senior Indebtedness, on the other hand.

 

Nothing contained in this Article or elsewhere
in this Indenture or in the Securities is intended to or shall impair, as between the Company, its creditors other than the holders of
Senior Indebtedness, and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to
the Holders of the Securities the Principal of and interest on the Securities as and when the same shall become due and payable in accordance
with their terms, or is intended to or shall affect the relative rights of the Holders of the Securities and creditors of the Company
other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Holder of any Security or the Trustee
on his behalf from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights,
if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or securities of the Company received upon
the exercise of any such remedy.

 

Upon any payment or distribution of assets of
the Company referred to in this Article, the Trustee, subject to the provisions of Sections 7.01 and 7.02, and the holders of the Securities
shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which such liquidation, dissolution,
winding up, receivership, reorganization, assignment or marshalling proceedings are pending, or a certificate of the receiver, trustee
in bankruptcy, liquidating trustee, agent or other person making such payment or distribution, delivered to the Trustee or to the Holders
of the Securities, for the purpose of ascertaining the Persons entitled to participate in such distribution, the holders of the Senior
Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon
and all other facts pertinent thereto or to this Article.

 

Section 11.04. Authorization by Securityholders.
Each Holder of a Security by his acceptance thereof authorizes the Trustee in his behalf to take such action as may be necessary or
appropriate to effectuate the subordination provided in this Article and appoints the Trustee his attorney-in-fact for any and all such
purposes.

 

    40 

     

    

 

Section 11.05. Notice to Trustee. The Company
shall give prompt written notice to the Trustee and to any paying agent of any fact known to the Company which would prohibit the making
of any payment of moneys to or by the Trustee or any paying agent in respect of the Securities pursuant to the provisions of this Article
or would end such prohibition. Regardless of anything to the contrary contained in this Article or elsewhere in this Indenture, the Trustee
shall not be charged with knowledge of the existence of any Senior Indebtedness or of any default or event of default with respect to
any Senior Indebtedness or of any other facts which would prohibit the making of any payment of moneys to or by the Trustee or which would
end such prohibition, unless and until the Trustee shall have received notice in writing at its principal Corporate Trust Office to that
effect signed by an officer of the Company, or by a holder or agent of a holder of Senior Indebtedness or by the trustee under any indenture
pursuant to which Senior Indebtedness shall be outstanding, who shall have been certified by the Company or otherwise established to the
reasonable satisfaction of the Trustee to be such holder or agent or trustee, and, prior to the receipt of any such written notice, the
Trustee shall, subject to Sections 7.01 and 7.02, be entitled to assume that no such facts exist; provided that if on a date at least
three Business Days prior to the date upon which by the terms hereof any such moneys shall become payable for any purpose (including,
without limitation, the payment of the Principal of, or interest on any Security) the Trustee shall not have received with respect to
such moneys the notice of prohibition provided for in this Section, then, regardless of anything herein to the contrary, the Trustee shall
have full power and authority to receive such moneys and to apply the same to the purpose for which they were received, and shall not
be affected by any notice to the contrary which may be received by it on or after such prior date.

 

Regardless of anything to the contrary herein,
nothing shall prevent (a) any payment by the Company or the Trustee to the Securityholders of amounts in connection with a redemption
of Securities if (i) notice of such redemption has been given pursuant to Article 3 prior to the receipt by the Trustee of written notice
of prohibition as aforesaid, and (ii) such notice of redemption is given not earlier than 60 days before the redemption date, or (b) any
payment by the Trustee to the Securityholders of amounts deposited with it pursuant to Sections 8.01, 8.05 or 8.06.

 

The Trustee shall be entitled to rely on the delivery
to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness (or a trustee or agent on behalf of such
holder) to establish that such notice has been given by a holder of Senior Indebtedness or a trustee or agent on behalf of any such holder.
In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a
holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Article, the Trustee may request such Person
to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent
to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person
under this Article, and if such evidence is not furnished the Trustee may defer any payment to such Person pending judicial determination
as to the right of such Person to receive such payment.

 

Section 11.06. Trustee’s Relation to
Senior Indebtedness. The Trustee and any agent of the Company or the Trustee shall be entitled to all the rights set forth in this
Article with respect to any Senior Indebtedness which may at any time be held by it in its individual or any other capacity to the same
extent as any other holder of Senior Indebtedness and nothing in this Indenture shall deprive the Trustee or any such agent, of any of
its rights as such holder. Nothing in this Article shall apply to claims of, or payments to, the Trustee under or pursuant to 7.07.

 

With respect to the holders of Senior Indebtedness,
the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article,
and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Indenture against the
Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and, subject to the provisions
of Sections 7.01 and 7.02, the Trustee shall not be liable to any holder of Senior Indebtedness if it shall pay over or deliver to Holders
of Securities, the Company or any other Person moneys or assets to which any holder of Senior Indebtedness shall be entitled by virtue
of this Article or otherwise.

 

    41 

     

    

 

Section 11.07. No Impairment of Subordination.
No right of any present or future holder of any Senior Indebtedness to enforce subordination as herein provided shall at any time
in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good
faith, by any such holder, or by any noncompliance by the Company with the terms, provisions and covenants of this Indenture, regardless
of any knowledge thereof which any such holder may have or otherwise be charged with.

 

    42 

     

    

 

SIGNATURES

 

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

 

	(SEAL)

Attest:	 	CHARLES RIVER LABORATORIES INTERNATIONAL, INC.

as the Company
	 	 	 
	 	 	 
	 	 	 	By:	 
	 	 	 	 	Name:	 
	 	 	 	 	Title:	 

 

 

	(SEAL)

Attest:	 	U.S. BANK NATIONAL ASSOCIATION,

as the Trustee
	 	 	 
	 	 	 
	 	 	 	By:	 
	 	 	 	 	Name:	 
	 	 	 	 	Title:	 

     

     

    

 

	STATE OF	)	 
	 	:	ss
	COUNTY OF 	)	 

 

BEFORE ME, the undersigned authority, on this
__ day of ____________, 20___, personally appeared ____________, ____________ of Charles River Laboratories International, Inc., a Delaware
corporation, known to me (or proved to me by introduction upon the oath of a person known to me) to be the person and officer whose name
is subscribed to the foregoing instrument, and acknowledged to me that he/she executed the same as the act of such corporation for the
purposes and consideration herein expressed and in the capacity therein stated.

 

GIVEN UNDER MY HAND AND SEAL THIS __ DAY OF ______,
20__.

 

(SEAL)

 

	 	 
	 	 
	 	NOTARY PUBLIC, STATE OF
	 	Print Name:
	 	Commission Expires:

	STATE OF	)	 
	 	:	ss
	COUNTY OF 	)	 

 

BEFORE ME, the undersigned authority, on this
____ day of __________, 20__, personally appeared _________________, _______________ of , a national banking association, known to me
(or proved to me by introduction upon the oath of a person known to me) to be the person and officer whose name is subscribed to the foregoing
instrument, and acknowledged to me that he/she executed the same as the act of such association for the purposes and consideration herein
expressed and in the capacity therein stated.

 

GIVEN UNDER MY HAND AND SEAL THIS ___ DAY OF ______,
20__.

 

(SEAL)

 

	 	 
	 	 
	 	NOTARY PUBLIC, STATE OF
	 	Print Name:
	 	Commission Expires:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]