Document:

EX-4.3

 Exhibit 4.3 

EXECUTION VERSION 
 ESCROW AND
SECURITY AGREEMENT 
 This Escrow and Security Agreement (“Escrow and Security Agreement”) is entered into as of
December 27, 2013 between Salix Pharmaceuticals, Ltd., a Delaware corporation (the “Company”), U.S. Bank National Association, a national banking association, as trustee (in such capacity, the “Trustee”) under
the Indenture (defined herein), and as escrow agent (in such capacity, the “Escrow Agent”). 
 WHEREAS, the Company and
Jefferies LLC, as the representative (the “Representative”) of the initial purchasers referred to therein (the “Initial Purchasers”), are parties to the Purchase Agreement, dated December 12, 2013 (the
“Purchase Agreement”), relating to the Company’s issuance of $750,000,000 in aggregate principal amount of 6.00% Senior Notes due 2021 (the “Notes”); 

WHEREAS, the Company and the Trustee are parties to the Indenture, dated as of December 27, 2013 (the “Indenture”)
governing the Notes; and 
 WHEREAS, in connection with the issuance and sale of the Notes, the parties have agreed to enter into this
Escrow and Security Agreement to place in a secured escrow account certain funds and to set forth the conditions upon which, and the manner in which, funds will be held by the Escrow Agent, disbursed from the Escrow Account (defined herein) and
released from the security interest and lien hereinafter described. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, it is mutually agreed as follows: 
 ARTICLE I 

DEFINITIONS 
 Section 1.01
Defined Terms. 
 All terms used but not defined herein shall have the meanings ascribed to them in the Indenture. In addition to any
other terms used and defined herein, the following terms shall have the meanings set forth below: 
 “Eligible Escrow
Investments” means (1) investments in money market funds registered under the Investment Company Act of 1940 whose shares are registered under the Securities Act, and rated “AAAm” or “AAAm-G” or better by S&P
and “Aaa,” “Aa1” or “Aa2” by Moody’s, including any such money market fund for which the Escrow Agent or any of its Affiliates serves as investment manager, administrator, shareholder servicing agent and/or
custodian; and (2) deposits in a non-interest-bearing account with the Escrow Agent; provided that such account has full FDIC coverage (at least through December 31, 2014). 

“Merger” means the merger of Willow Acquisition Sub Corporation with and into Santarus, Inc. in accordance with the Merger
Agreement, with Santarus, Inc., as the surviving corporation of such merger, becoming an indirect Subsidiary of the Company. 

“Merger Agreement” means the Agreement and Plan of Merger, dated as of November 7, 2013 (together with the annexes,
schedules, exhibits and attachments thereto), among the Company, Salix Pharmaceuticals, Inc., Willow Acquisition Sub Corporation and Santarus, Inc. 

 “Release Certificate” means an officers’ certificate substantially in the
form attached hereto as Exhibit A-1 executed by two officers of the Company, each of whom must be the chief executive officer, the president, the chief financial officer, the treasurer or the
principal accounting officer. 
 “Release Deadline” means 5:00 p.m. (New York City time) on May 7, 2014. 

“Termination Certificate” means an officers’ certificate substantially in the form attached hereto as Exhibit A-2 executed by two officers of the Company, each of whom must be the chief executive officer, the president, the chief financial officer, the treasurer or the principal accounting officer. 

ARTICLE II 
 ESCROW DEPOSIT 

Section 2.01 Appointment of Escrow Agent. 

The Company hereby appoints U.S. Bank National Association to act as Escrow Agent and depository hereunder, and the Escrow Agent hereby
accepts such appointment and agrees to hold, invest and disburse the Escrowed Property in accordance with this Escrow and Security Agreement. 

Section 2.02 Deposit and Receipt of Escrowed Property. 

(a) Concurrently with the execution and delivery hereof, the Escrow Agent shall establish an escrow account in the name of the Trustee (the
“Escrow Account”) as follows: 
 RBK: U.S. Bank N.A. 

ABA: 091000022 
 BNF Acct Name:
USBank CT Southeast Wire Clrg 
 BNF Acct #: 173103781824 

BNF Address: 777 E Wisconsin Ave., Milwaukee, WI 53202-5300 

OBI: Salix 
 (b) Concurrently
with the closing of the sale of the Notes and the execution and delivery of this Escrow and Security Agreement, the Company shall deposit, or shall cause to be deposited, cash into the Escrow Account in an amount equal to $750,000,000, which
constitutes the gross proceeds from the sale of the Notes (the “Proceeds”). 
 (c) If the Merger is not consummated on
January 2, 2014, the Company shall deposit into the Escrow Account within one Business Day an amount of cash that, when taken together with the Proceeds deposited into the Escrow Account pursuant to paragraph (b) above, will be sufficient
to fund a Special Mandatory Redemption of the Notes on May 14, 2014, if a Special Mandatory Redemption were to occur on such date, which amount is $17,125,000 (the “Escrow Contribution”). 

(d) The Escrow Agent hereby agrees to accept the Proceeds deposited into the Escrow Account pursuant to paragraph (b) above and any
Escrow Contribution deposited into the Escrow Account pursuant to paragraph (c) above and to hold such funds and any proceeds thereof or interest or income resulting from the investment thereof in trust in the Escrow Account for investment and
disbursement in accordance with the provisions of this Escrow and Security Agreement. 

  
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 (e) All amounts deposited into the Escrow Account pursuant to this Section 2.02 and
any proceeds thereof or interest or income resulting from the investment thereof of any such deposits shall constitute the “Escrowed Property.” 

(f) Notwithstanding any provision to the contrary in this Escrow and Security Agreement (including Section 4.05 hereof) the Escrow
Agent shall not sell, convey, redeem or otherwise dispose of or withhold any Escrowed Property to make payments or distributions or otherwise to satisfy any liability or indemnity owed to it or any other party under this Escrow and Security
Agreement unless the Escrow Agent has provided the Company with written notice at least three Business Days in advance of any such proposed sale, conveyance, redemption, disposal, withholding or other action in order to permit the Company to make
the required payment or distribution or otherwise satisfy the applicable liability for and on behalf of the Company. 
 Section 2.03
Investments. 
 (a) The Escrow Agent is authorized and directed to invest or hold, uninvested, in cash, the Escrowed Property as
directed in writing by the Company; provided, that Escrowed Property may only be invested in the name of the Escrow Agent in Eligible Escrow Investments. Absent its timely receipt of a written direction from the Company, the Escrow Agent
shall have no duty to invest (or otherwise pay interest on) the Escrowed Property. With respect to any Escrowed Property received by the Escrow Agent after 10:00 a.m., New York City time, the Escrow Agent shall not be required to invest such funds
or to effect any investment direction until the next Business Day. Any investment earnings and income on the Escrowed Property shall become part of the Escrowed Property, and shall be disbursed in accordance with Section 2.05 of this
Escrow and Security Agreement. 
 (b) The Escrow Agent is hereby authorized and directed to sell or redeem any such investments to make any
payments or distributions required under this Escrow and Security Agreement. The Escrow Agent shall have no responsibility or liability for any loss, fee, tax, penalty or other charge that may result from any investment, reinvestment, sale or
liquidation of investment made pursuant to this Escrow and Security Agreement. The Escrow Agent is hereby authorized, in making or disposing of any investment permitted by this Escrow and Security Agreement, to deal with itself (in its individual
capacity) or with one or more of its affiliates, whether it or any such affiliate is acting as agent of the Escrow Agent or for any third person or dealing as principal for its own account, provided that such dealings are fair, reasonable and
consistent with market practice. The Company acknowledges that the Escrow Agent is not providing investment supervision, recommendations or advice. The Escrow Agent shall be under no duty to afford the Escrowed Property any greater degree of care
than it gives its own similar property. 
 Section 2.04 Income Tax Allocation and Reporting.  

(a) The Company agrees that, for tax reporting purposes, all interest and other income from investment of the Escrowed Property shall, as of
the end of each calendar year and to the extent required by the Internal Revenue Service, be reported as having been earned by the Company, whether or not such income was disbursed during such calendar year. 

(b) Concurrently with the execution and delivery of this Escrow and Security Agreement, the Company shall provide the Escrow Agent with
certified tax identification numbers by furnishing appropriate forms W-9 or W-8 and such other forms and documents that the Escrow Agent may request. The Company understands that if such tax reporting documentation is not provided and certified to
the Escrow Agent, the Escrow Agent may be required by the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder, to withhold a portion of any interest or other income earned on the investment of the Escrowed Property.

  
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 (c) The Company shall indemnify, defend and hold the Escrow Agent harmless from and against any
tax, late payment, interest, penalty or other cost or expense that may be assessed against the Escrow Agent on or with respect to the Escrowed Property and the investment thereof unless such tax, late payment, interest, penalty or other expense was
directly caused by the gross negligence, bad faith or willful misconduct of the Escrow Agent. The indemnification provided by this Section 2.04(c) is in addition to the indemnification provided in Section 4.02 hereof and
shall survive the resignation or removal of the Escrow Agent and the termination of this Escrow and Security Agreement. 
 Section 2.05
Disbursements. The Escrow Agent is hereby directed to hold and distribute the Escrowed Property in the following manner: 
 (a) If on
or prior to the Release Deadline the Escrow Agent receives the Release Certificate, the Escrow Agent shall as soon as practicable release all of the Escrowed Property to or as directed by the Company (the date of such release, the “Escrow
Release Date”). 
 (b) If (i) the Escrow Agent has not received the Release Certificate on or prior to the Release Deadline or
(ii) at any time the Company has delivered to the Escrow Agent the Termination Certificate confirming that the Merger Agreement has been terminated or abandoned (the earlier of the Release Deadline and the time of receipt by the Escrow Agent of
the Termination Certificate referred to in clause (ii), the “Escrow Termination Date”), the Escrow Agent shall, without the requirement of notice to or action by the Company, the Trustee or any other Person, on the Escrow
Termination Date, release the Escrowed Property to the Trustee and shall provide written notice of such release to the Company within one Business Day thereafter; provided that the failure to provide such notice shall not affect the release
of the Escrowed Property to the Trustee. 
 (c) The Escrow Agent is authorized to seek confirmation of any instructions by telephone calls
to each of the Company and the Trustee, and the Escrow Agent may conclusively rely upon such confirmations, if consistent, by authorized officers of the Company and the Trustee. To ensure the accuracy of the instructions it receives, the Escrow
Agent may record such calls. If the Escrow Agent is unable to verify the instruction, or is not satisfied, in its sole discretion, with the verification it receives, it will not execute the instruction until all issues have been resolved to its
satisfaction. The persons and telephone numbers for such calls may be changed only in a writing, signed by an authorized officer of the Company and the Trustee, actually received and acknowledged by the Escrow Agent. The Company and the Trustee
acknowledge that these security procedures for funds transfers are commercially reasonable. 
 Section 2.06 Termination. 

This Escrow and Security Agreement shall terminate upon the distribution of all Escrowed Property from the Escrow Account in accordance with
Section 2.05; provided that the provisions of Sections 2.04(c), 4.01 and 4.02 hereof shall survive such termination. 

  
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 ARTICLE III 

DUTIES OF THE ESCROW AGENT 

Section 3.01 Scope of Responsibility. 

Notwithstanding any provision to the contrary, the Escrow Agent is obligated only to perform the duties specifically set forth in this Escrow
and Security Agreement, which shall be deemed purely ministerial in nature. Under no circumstances will the Escrow Agent be deemed to be a fiduciary to the Company or any other person under this Escrow and Security Agreement. The Escrow Agent will
not be responsible or liable for the failure of the Company to perform in accordance with this Escrow and Security Agreement. The Escrow Agent shall neither be responsible for, nor chargeable with, knowledge of the terms and conditions of any other
agreement, instrument, or document other than this Escrow and Security Agreement, whether or not an original or a copy of such agreement, instrument or document has been provided to the Escrow Agent; and the Escrow Agent shall have no duty to know
or inquire as to the performance or nonperformance of any provision of any such agreement, instrument, or document. References in this Escrow and Security Agreement to any other agreement, instrument, or document are for the convenience of the
Company and the Trustee, and the Escrow Agent has no duties or obligations with respect thereto. This Escrow and Security Agreement sets forth all matters pertinent to the escrow contemplated hereunder, and no additional obligations of the Escrow
Agent shall be inferred or implied from the terms of this Escrow and Security Agreement or any other agreement. 
 Section 3.02
Authorized Signatories. 
 Concurrent with the execution of this Escrow and Security Agreement, the Company and the Trustee shall
deliver to the Escrow Agent an authorized signatories certificate in the form of Exhibit B to this Escrow and Security Agreement. 

ARTICLE IV 
 PROVISIONS CONCERNING
THE ESCROW AGENT 
 Section 4.01 Compensation. 

For services rendered hereunder, the Escrow Agent shall be entitled to such compensation as shall be separately agreed to in writing between
the Company and the Escrow Agent. The Company agrees to pay such compensation and to reimburse the Escrow Agent for the reasonable and documented out-of-pocket expenses (including, without limitation, reasonable and documented attorneys’ fees
and expenses) incurred by it in connection with the services rendered by it hereunder. The provisions of this Section 4.01 shall survive the termination of this Escrow and Security Agreement or the resignation or removal of the Escrow
Agent. 
 Section 4.02 Indemnification. 

The Company agrees to indemnify the Escrow Agent for, and to hold it harmless against, any and all loss, liability, damage, claim, cost or
expense, including reasonable and documented attorneys’ fees and expenses (including the costs and expenses of defending against any claim of liability, regardless of who asserts such claim), incurred by the Escrow Agent arising out of or in
connection with its appointment as Escrow Agent hereunder, except such losses, liabilities, damages, claims, costs or expenses as determined by a court of competent jurisdiction in a final, non-appealable judgment to have resulted from the gross
negligence or willful misconduct of the Escrow Agent. 

  
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The Escrow Agent shall incur no liability and shall be indemnified and held harmless by the Company for, or in respect of, any actions taken, omitted to be taken or suffered to be taken in good
faith by the Escrow Agent in reliance upon any signature, endorsement, assignment, certificate, order, request, notice, instruction or other instrument or document believed to be valid and genuine. The Escrow Agent shall notify the Company, by
letter or facsimile transmission, of a claim against the Escrow Agent or of any action commenced against the Escrow Agent, promptly after the Escrow Agent shall have received written notice thereof. The Company shall be entitled to participate at
its own expense in the defense of any such claim or other action and, if the Company so elects, the Company shall assume the defense of any suit brought to enforce any such claim. In the event that the Company assumes the defense of any such suit,
the Company shall not be liable for the fees and expenses of any additional counsel thereafter retained by the Escrow Agent, so long as the Company shall retain counsel reasonably satisfactory to the Escrow Agent; provided, that the Company
shall not be entitled to assume the defense of any such action if the named parties to such action include both the Escrow Agent and the Company and representation of both parties by the same counsel would, in the written opinion of the Escrow
Agent’s counsel, be inappropriate due to actual or potential conflicting interests between the Escrow Agent and the Company. The provisions of this Section 4.02 shall survive the termination of this Escrow and Security Agreement or
the resignation or removal of the Escrow Agent. 
 Section 4.03 Rights of Escrow Agent. 

The Escrow Agent: 
 (a) shall
not be liable for any act or omission by it unless such act or omission constitutes gross negligence, bad faith or willful misconduct; in no event shall the Escrow Agent be liable to the Company or any third party for special, punitive, indirect or
consequential damages, including but not limited to lost profits, irrespective of whether the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action arising in connection with this Escrow and
Security Agreement; 
 (b) shall have no duties or obligations other than those specifically set forth herein or as may be subsequently
agreed to in writing between the Escrow Agent, the Company and the Trustee, and the Escrow Agent shall have no liability under, and no duty to inquire as to, the provisions of any agreement other than this Escrow and Security Agreement; 

(c) shall not be obligated to take any action hereunder which might in the Escrow Agent’s judgment involve any risk of expense, loss or
liability, unless it shall have been furnished with indemnity and/or security reasonably satisfactory to it; 
 (d) may conclusively rely on
and shall be protected in acting or refraining from acting in good faith upon any certificate, instrument, opinion, notice, letter, or other document or security delivered to it and believed by it to be genuine and to have been signed or presented
by the proper person or persons; provided that in relying, acting or refraining from acting in such manner, the Escrow Agent shall not have acted with gross negligence, bad faith or willful misconduct; 

(e) may conclusively rely on and shall be protected in acting or refraining from acting in good faith upon written or oral instructions from
the Company, other than instructions concerning disbursements, which are governed exclusively by Section 2.05 hereof; 
 (f) may
consult with counsel of its selection, including its in-house counsel, with respect to any questions relating to its duties and responsibilities and the advice or opinion of such counsel, or any opinion of counsel to the Company provided to the
Escrow Agent shall be full and complete authorization and protection in respect of any action taken, suffered or omitted to be taken by the Escrow Agent hereunder in accordance with the advice or opinion of such counsel; and 

  
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 (g) may perform any duties hereunder either directly or by or through agents and attorneys;
provided that the Escrow Agent shall not be responsible for the misconduct or negligence on the part of any such agent or attorney appointed by it with due care hereunder. 

Section 4.04 Disagreements. 

If, at any time, (a) there shall exist any dispute with respect to the holding or disposition of all or any portion of the Escrowed
Property or any other obligations of the Escrow Agent hereunder or (b) the Escrow Agent is in doubt as to the action to be taken hereunder, the Escrow Agent is authorized to retain the Escrowed Property until (i) such dispute or
uncertainty shall be resolved to the satisfaction of the Escrow Agent in its sole discretion or (ii) the Escrow Agent files an interpleader action in any court of competent jurisdiction, and upon the filing thereof, the Escrow Agent shall be
relieved of all liability as to the Escrowed Property and shall be entitled to recover reasonable and documented attorneys’ fees, expenses and other costs incurred in commencing and maintaining any such interpleader action. The Escrow Agent
shall be entitled to act on any resultant settlement agreement or court order without further question, inquiry or consent. The Escrow Agent shall have no liability to the Company or any other person with respect to any suspension of performance or
disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any delay in the disbursement of the Escrowed Property or any delay in, or with respect to, any
other action required or requested of Escrow Agent. 
 Section 4.05 Attachment of Escrowed Property; Compliance with Legal
Orders. 
 In the event that any Escrowed Property shall be attached, garnished or levied upon by any court order, or the delivery
thereof shall be stayed or enjoined by an order of a court, or any order, judgment or decree shall be made or entered by any court order affecting the Escrowed Property, the Escrow Agent is hereby expressly authorized, in its sole discretion, to
respond as it deems appropriate or to comply with all writs, orders or decrees so entered or issued, or which it is advised, by written opinion of a legal counsel of its own choosing, is binding upon it. In the event that the Escrow Agent obeys or
complies with any such writ, order or decree, it shall not be liable to the Company or to any other person, firm or corporation, should, such compliance notwithstanding, such writ, order or decree be subsequently reversed, modified, annulled, set
aside or vacated. 
 Section 4.06 Resignation. 

The Escrow Agent may resign and be discharged from the performance of its duties hereunder at any time by giving ten Business Days’
written notice to the Company and the Trustee specifying the date when such resignation shall take effect. The Company shall appoint a successor Escrow Agent hereunder prior to the effective date of resignation. If no successor Escrow Agent is
appointed, the Escrow Agent, in each case at the expense of the Company, may (i) apply to a court of competent jurisdiction for such appointment or (ii) deposit the Escrowed Property with a court of competent jurisdiction. The Escrow Agent
shall transmit all records pertaining to the Escrowed Property and shall pay all Escrowed Property to the successor escrow agent, after making copies of records the Escrow Agent deems advisable and after deduction and payment to the Escrow Agent of
all fees and expenses (including court costs and reasonable and documented attorneys’ fees and expenses) payable to, incurred by, or expected to be incurred by the Escrow Agent in connection with the performance of its duties and the exercise
of its rights hereunder. Upon delivery of the Escrowed Property to the successor escrow agent or to a court of competent jurisdiction as provided above, the Escrow Agent shall have no further duties, responsibilities or obligations hereunder. 

  
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 ARTICLE V 

SECURITY INTEREST 

Section 5.01 Grant of Security Interest; Instructions to Escrow Agent. 

(a) The Escrow Agent and, to the extent that the Company is deemed to have any right or interest therein, the Company hereby irrevocably grant
a first priority security interest in and lien on, and pledge, assign, transfer and set over to the Trustee for its own benefit and the benefit of the holders of the Notes, all of their respective right, title and interest in, to the extent
applicable, (i) the Escrow Account, and the Escrowed Property now or hereafter placed or deposited in, or delivered to the Escrow Agent for placement or deposit in, the Escrow Account, including, without limitation, all funds held therein, and
all Eligible Escrow Investments held by (or otherwise maintained in the name of) the Escrow Agent in the Escrow Account pursuant to Article II; (ii) all claims and rights of whatever nature that the Company may now have or hereafter
acquire against any third party in respect of any of the Escrowed Property in the Escrow Account, (iii) all rights that the Company has under this Escrow and Security Agreement and all rights it may now have or hereafter acquire against the
Escrow Agent in respect of its holding and managing all or any part of the Escrowed Property in the Escrow Account and (iv) all proceeds (as such term is defined in Section 9–102(a) of the Uniform Commercial Code (the
“UCC”)) of any of the foregoing, in order to secure all obligations and indebtedness of the Company under the Notes, the Indenture, and any other obligation, now or hereafter arising, of every kind and nature, owed by the Company
under the Notes and the Indenture to the holders of the Notes or to the Trustee (including, without limitation, the Trustee’s compensation, reimbursement and indemnification rights under the Indenture) (collectively, the “Secured
Obligations”). The Escrow Agent hereby acknowledges the Trustee’s security interest and lien as set forth above. The security interest of the Trustee shall at all times be valid, perfected and enforceable as a first priority security
interest by the Trustee against the Company and all third parties in accordance with the terms of this Escrow and Security Agreement and the Company shall take all actions and shall direct the Trustee in writing to take all actions necessary on its
part to insure the creation and continuance of a perfected first priority security interest in the Escrow Account and the Escrowed Property in favor of the Trustee in order to secure all Secured Obligations. The Company shall not grant or cause or
permit any other person to obtain a security interest, encumbrance, lien or other claim, direct or indirect, in the Company’s right, title or interest in the Escrow Account or any of the Escrowed Property. 

(b) The liens and security interests provided for in this Section 5.01 shall automatically terminate and cease as to, and shall
not extend or apply to, and the Trustee and the Escrow Agent shall have no security interest in, any funds disbursed by the Escrow Agent to the Company pursuant to Section 2.05(a) of this Escrow and Security Agreement. The Escrow Agent
shall not have any right to receive compensation from the Trustee and shall have no authority to obligate the Trustee or to compromise or pledge its security interest hereunder. Accordingly, the Escrow Agent is hereby directed to cooperate with the
Trustee in the exercise of its rights in the Escrowed Property provided for herein. 
 (c) The parties agree that the Escrow Agent’s
jurisdiction for purposes of the Escrow Account, the security granted hereunder and Article 9 of the UCC is the State of New York. 
 (d)
Notwithstanding anything to the contrary, the Escrow Agent agrees that it will comply with instructions originated by the Trustee concerning the Escrow Account without further consent by the Company. At any time and from time to time, upon the
written request of the Trustee and at the sole expense of the Company, the Company will take any additional actions reasonably required and consistent with the terms of this Escrow and Security Agreement to enable the Trustee to obtain
“control” (within the meaning of the applicable UCC) with respect to the Escrow Account. 

  
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 ARTICLE VI 

REPRESENTATIONS AND WARRANTIES 

Section 6.01 Representations and Warranties. 

(a) The Company represents and warrants to the Trustee and the Escrow Agent that (i) the Company has been duly incorporated and is
validly existing as a Delaware corporation and is not incorporated under the laws of any other jurisdiction, and during the term of this Escrow and Security Agreement, the Company shall not change its jurisdiction of organization, (ii) this
Escrow and Security Agreement has been duly authorized, executed and delivered by the Company and constitutes the legal, valid and binding obligation of the Company, subject to bankruptcy, insolvency, reorganization, receivership, moratorium and
other laws affecting creditors’ rights (including, without limitation, the effect of statutory and other law regarding fraudulent conveyances, fraudulent transfers, and preferential transfers) or other similar laws now or hereafter in effect
relating to creditors’ rights generally, (iii) the Company has not assigned or granted a security interest in the Escrow Account or any Escrowed Property deposited in the Escrow Account, except to the Trustee and (iv) the Company will
not permit the Escrow Account to become subject to any other pledge, assignment, lien, charge or encumbrance of any kind, other than the Trustee’s security interest referred to herein. 

(b) The Trustee represents and warrants to the Company and the Escrow Agent that this Escrow and Security Agreement has been duly authorized,
executed and delivered on its behalf and constitutes its legal, valid and binding obligation, subject to bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting creditors’ rights (including, without limitation,
the effect of statutory and other law regarding fraudulent conveyances, fraudulent transfers, and preferential transfers) or other similar laws now or hereafter in effect relating to creditors’ rights generally. 

(c) The Escrow Agent represents and warrants to the Company and the Trustee that (i) the Escrow Agent is, and has all power and authority
to act as, a bank, as defined in Section 9-102 of the UCC, and (ii) this Escrow and Security Agreement has been duly authorized, executed and delivered on its behalf and constitutes its legal, valid and binding obligation, subject to
bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting creditors’ rights (including, without limitation, the effect of statutory and other law regarding fraudulent conveyances, fraudulent transfers, and
preferential transfers) or other similar laws now or hereafter in effect relating to creditors’ rights generally. 
 ARTICLE VII 

MISCELLANEOUS 
 Section 7.01
Merger; Consolidation. 
 Any entity into which the Escrow Agent may be merged or which it may be consolidated, or any entity
resulting from any merger, conversion or consolidation to which the Escrow Agent shall be a party, or any entity succeeding to all or substantially all the escrow or corporate trust business of the Escrow Agent shall be the successor Escrow Agent
hereunder without the execution or filing of any paper or any further act on the part of any of the parties hereto except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary
notwithstanding. 

  
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 Section 7.02 Notices. 

Unless otherwise provided herein, all notices, requests and other communications to any party hereunder shall be in writing (including
facsimile and electronic transmission in PDF format) and shall be given to such party, addressed to it, at its address or facsimile number set forth below: 
  

			
	If to the Company:
	
	Salix Pharmaceuticals, Ltd.
	8510 Colonnade Center Drive
	Raleigh, NC 27615
	Attention:	  	Bill Bertrand, Senior Vice President, General Counsel
	Fax:	  	(919) 447-3445
	Email:	  	bill.bertrand@salix.com
	
	with a copy (not constituting notice) to:
	
	Covington & Burling LLP
	1201 Pennsylvania Avenue, N.W.
	Washington, DC 20004
	Attention:	  	Kerry Shannon Burke, Esq.
	Fax:	  	(202) 778-5297
	Email:	  	kburke@cov.com
	
	If to the Trustee:
	
	U.S. Bank National Association
	Global Corporate Trust Services
	214 N. Tryon Street, 27th Floor
	Charlotte, NC 28202
	Attention:	  	Katherine Esber, Vice President
	Fax:	  	(704) 335-4676
	Email:	  	katherine.esber@usbank.com
	
	If to the Escrow Agent:
	
	U.S. Bank National Association
	Global Corporate Trust Services
	214 N. Tryon Street, 27th Floor
	Charlotte, NC 28202
	Attention:	  	Katherine Esber, Vice President
	Fax:	  	(704) 335-4676
	Email:	  	katherine.esber@usbank.com

 Section 7.03 Governing Law. 

This Escrow and Security Agreement and the Escrow Agent’s appointment hereunder shall be construed and enforced in accordance with the
laws of the State of New York applicable to agreements made and to be performed entirely within such state, and without regard to conflicts of laws principles thereof. 

  
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This Escrow and Security Agreement shall inure to the benefit of the parties hereto and nothing in this Escrow and Security Agreement, express or implied, is intended to or shall confer upon any
other person any right, benefit or remedy of any nature whatsoever under or by reason of this Escrow and Security Agreement. The Escrow Agent may assign or transfer its rights under this Escrow and Security Agreement to any of its affiliates without
the prior written consent of any party hereto, provided that the Escrow Agent shall notify the parties in writing of such assignment or transfer prior to the effectiveness thereof. For purposes of this Section 7.03, “affiliate”
means any Person that directly or indirectly controls, or is under common control with, or is controlled by, the Escrow Agent, provided that “control” (including its correlative meanings “controlled by” and “under common
control with”) shall mean possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise).

 Section 7.04 Entire Agreement. 

This Escrow and Security Agreement sets forth the entire agreement and understanding of the parties related to the Escrowed Property. All
prior and contemporaneous negotiations and agreements between the parties on the matter contained in this Escrow and Security Agreement are expressly merged into and superseded by this Escrow and Security Agreement. 

Section 7.05 Amendment. 

This Escrow and Security Agreement shall not be amended, in whole or in part except by a written instrument signed by the Company, the Trustee
and the Escrow Agent. This Escrow and Security Agreement may not be modified orally or by electronic mail (other than in an amendment signed by all of the parties hereto in PDF format). 

Section 7.06 Waivers. 

The failure of any party to this Escrow and Security Agreement at any time to require performance of any provision under this Escrow and
Security Agreement shall not affect the right at a later time to enforce the same performance. A waiver by any party to this Escrow and Security Agreement of any condition or breach of any term, covenant, representation, or warranty contained in
this Escrow and Security Agreement, in one or more instances, shall not be construed as a further or continuing waiver of any such condition or breach or a waiver of any other condition or breach of any other term, covenant, representation, or
warranty contained in this Escrow and Security Agreement. 
 Section 7.07 Headings. 

The section headings herein are for convenience only and shall not affect the construction hereof. 

Section 7.08 Counterparts. 

This Escrow and Security Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all of
which together shall constitute one and the same agreement. The exchange of copies of this Escrow and Security Agreement and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Escrow and
Security Agreement as to the parties hereto and may be used in lieu of the original Escrow and Security Agreement for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for
all purposes. 

  
 11 

 Section 7.09 Severability. 

In case any provision of this Escrow and Security Agreement 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 7.10 Force Majeure.

 In no event shall the Escrow Agent be responsible or liable for any failure or delay in the performance of its obligations hereunder
arising out of or caused, directly or indirectly, by forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services. The Escrow Agent shall use commercially reasonable efforts, consistent with accepted practices in the banking industry, to resume
performance as soon as practicable under the circumstances. 
 Section 7.11 Venue; Consent to Jurisdiction. 

(a) The parties agree that the Escrow Agent may seek adjudication of any adverse claim, demand or controversy over its person as well as funds
on deposit, in either a federal or state court located in the County of New York, State of New York. The parties also agree that service of process by certified or registered mail, return receipt requested, to the address referred to in
Section 7.02 of this Escrow and Security Agreement shall constitute adequate service. The parties further agree that the Escrow Agent has the right to interplead all of the assets held hereunder into a court of competent jurisdiction to
determine the rights of any Person claiming any interest herein. 
 (b) EACH PARTY, TO THE EXTENT PERMITTED BY LAW, KNOWINGLY, VOLUNTARILY
AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS ESCROW AND SECURITY AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY. THIS WAIVER APPLIES TO ANY ACTION OR LEGAL
PROCEEDING, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. 
 Section 7.12 USA PATRIOT Act. 

The parties hereto acknowledge that in accordance with Section 326 of the USA PATRIOT Act, the Escrow Agent, in order to help fight the
funding of terrorism and prevent money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Escrow Agent. The parties to this
Escrow and Security Agreement have provided the Escrow Agent with such information as it requested in order for the Escrow Agent to satisfy the requirements of the USA PATRIOT Act, and hereby agree to provide, promptly, any additional information
requested pursuant to this Section 7.12. 
 [Signature pages follow] 

  
 12 

 IN WITNESS WHEREOF, the parties hereto have caused this Escrow and Security Agreement to be
executed by their respective officers, hereunto duly authorized, as of the day and year first above written. 
  

			
	SALIX PHARMACEUTICALS, LTD.
		
	By:	 	 /s/ Adam C. Derbyshire

	Name:	 	Adam C. Derbyshire
	Title:	 	Executive Vice President, Finance and Administration, Chief Financial Officer, Treasurer and Assistant Secretary

  

			
		 	Salix – Escrow and Security Agreement

 
			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Katherine Esber

	Name:	 	Katherine Esber
	Title:	 	Vice President
	
	U.S. BANK NATIONAL ASSOCIATION, as Escrow Agent
		
	By:	 	 /s/ Katherine Esber

	Name:	 	Katherine Esber
	Title:	 	Vice President

  

			
		 	Salix – Escrow and Security Agreement

 EXHIBIT A-1 

FORM OF RELEASE CERTIFICATE 
 to

 U.S. Bank National Association 

as Escrow Agent 
 [—], 2014 
 This certificate is being delivered pursuant to Section 2.05(a) of the Escrow
and Security Agreement, dated as of December 27, 2013 (the “Escrow and Security Agreement”), between Salix Pharmaceuticals, Ltd., a Delaware corporation (the “Company”), and U.S. Bank National Association, a
national banking association, as trustee (in such capacity, the “Trustee”) and as escrow agent (in such capacity, the “Escrow Agent”). Terms used and not defined in this certificate shall have the meanings set forth
in that certain final offering memorandum, dated December 12, 2013 (the “Offering Memorandum”), relating to the issuance and sale of $750,000,000 in aggregate principal amount of 6.00% senior notes due 2021 (the
“Notes”). 
 The Company hereby certifies to the Escrow Agent through the undersigned officers that the following
conditions have been satisfied: 
  

	 	(1)	substantially concurrently with the release of the Escrowed Property from the Escrow Account, the Merger shall be consummated in accordance with the terms and conditions of the Merger Agreement as amended from time to
time in accordance with its terms; 

  

	 	(2)	the Merger Agreement has not been amended after the date of the indenture in a manner materially adverse to the holders of the Notes; 

 

	 	(3)	all Escrowed Property that constitutes proceeds from the sale of the Notes shall be applied in the manner described under the caption “Use of Proceeds” in the Offering Memorandum; and 

 

	 	(4)	the aggregate cash proceeds from the term loans drawn under the Credit Agreement, dated [—], 2014, among the Company, the guarantors party thereto, Jefferies Finance
LLC, as administrative agent and collateral agent, and the lenders from time to time party thereto, and existing unrestricted cash on the Company’s balance sheet, taken together with the funds to be released from the Escrow Account, shall be
sufficient to pay the Acquisition Consideration. 

 All Escrowed Property in the Escrow Account shall be released and sent to
the following account[s]: 
  

	
	[Name and Address of Bank/Beneficiary]
	Account No.:
	ABA No.:
	Attn:]
	
	[Name and Address of Bank/Beneficiary]
	Account No.:
	ABA No.:
	Attn:]

 IN WITNESS WHEREOF, the Company, through the undersigned officers, has signed this release
certificate as of the date first written above. 
  

			
	SALIX PHARMACEUTICALS, LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT A-2 

FORM OF TERMINATION CERTIFICATE 

to 
 U.S. Bank National Association

 as Escrow Agent 
 [—], 2014 
 This certificate is being delivered pursuant to Section 2.05(b) of the Escrow
and Security Agreement, dated as of December 27, 2013 (the “Escrow and Security Agreement”), between Salix Pharmaceuticals, Ltd., a Delaware corporation (the “Company”), and U.S. Bank National Association, a
national banking association, as trustee (in such capacity, the “Trustee”) and as escrow agent (in such capacity, the “Escrow Agent”). Terms used and not defined in this certificate shall have the meanings set forth
in that certain final offering memorandum, dated December 12, 2013, relating to the issuance and sale of $750,000,000 in aggregate principal amount of 6.00% senior notes due 2021. 

The Company hereby certifies to the Escrow Agent through the undersigned officers that the Merger Agreement has been terminated or abandoned.

 *        *        * 

 IN WITNESS WHEREOF, the Company, through the undersigned officers, has signed this certificate as
of the date first written above. 
  

			
	SALIX PHARMACEUTICALS, LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT B 

CERTIFICATE AS TO AUTHORIZED SIGNATURES 

The specimen signatures shown below are the specimen signatures of the individuals who have been designated as authorized representatives of
the Company and are authorized to initiate and approve transactions of all types for the Escrow Account established under the Escrow and Security Agreement, dated as of December 27, 2013, among the Company, the Trustee and the Escrow Agent.

  

					
	Name / Title	 	 	 	 Specimen Signature

			
	  
	 		 	  

	Name	 		 	Signature
			
	  
	 		 	
	Title	 		 	
			
	  
	 		 	  

	Name	 		 	Signature
			
	  
	 		 	
	Title	 		 	
			
	  
	 		 	  

	Name	 		 	Signature
			
	  
	 		 	
	Title	 		 	
			
	  
	 		 	  

	Name	 		 	Signature
			
	  
	 		 	
	TitleEX-4.4

 Exhibit 4.4 

EXECUTION VERSION 
 $750,000,000

 SALIX PHARMACEUTICALS, LTD. 

6.00% Senior Notes due 2021 

REGISTRATION RIGHTS AGREEMENT 

December 27, 2013 
 JEFFERIES LLC 

As Representative (the “Representative”) 

of the Initial Purchasers listed in 

Schedule I hereto 
 c/o Jefferies
LLC 
 520 Madison Avenue 
 New York, New York 10022 

Ladies and Gentlemen: 
 Salix Pharmaceuticals,
Ltd., a Delaware corporation (the “Company”) is issuing and selling to the several initial purchasers listed in Schedule I hereto (the “Initial Purchasers”), upon the terms set forth in the Purchase Agreement
dated December 12, 2013, by and among the Company, the Initial Purchasers and the subsidiary guarantors named therein (the “Purchase Agreement”), $750,000,000 in aggregate principal amount of 6.00% Senior Notes due 2021 issued
by the Company (each, a “Note” and collectively, the “Notes,” and including in all cases any Note Guarantee (as defined in the Indenture) related thereto). As promptly as practicable after the consummation of the
Merger, each of the Subsidiary Guarantors (as defined below) will execute and deliver to the Representative (as defined below) a joinder to this Agreement in the form attached as Exhibit A hereto (the “Joinder”), pursuant to which
the Subsidiary Guarantors will accede to the terms of this Agreement and become parties hereto. 
 As an inducement to the Initial
Purchasers to enter into the Purchase Agreement, the Company agrees with the Initial Purchasers, for the benefit of the Holders (as defined below) of the Notes (including, without limitation, the Initial Purchasers), as follows: 

 

	1.	Definitions 

 Capitalized terms that are used herein without definition and are
defined in the Purchase Agreement shall have the respective meanings ascribed to them in the Purchase Agreement. As used in this Agreement, the following terms shall have the following meanings: 

Additional Interest: The meaning set forth in Section 4(a). 

Advice: The meaning set forth in Section 5(u). 

Agreement: This Registration Rights Agreement, dated as of the Closing Date, between the Company, the Subsidiary Guarantors and the
Representative. 
 Applicable Period: The meaning set forth in Section 2(d). 

Business Day: A day that is not a Saturday, a Sunday or a day on which banking institutions in the City of New York are authorized or
required by law or executive order to be closed. 

 Closing Date: December 27, 2013. 

Company: The meaning set forth in the introductory paragraph to this Agreement. 

Day: Unless otherwise expressly provided, a calendar day. 

Effectiveness Date: The 335th day after the Closing Date. 

Effectiveness Period: The meaning set forth in Section 3(a). 

Event Date: The meaning set forth in Section 4(b). 

Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder. 

Exchange Notes: The 6.00% Senior Notes due 2021 of the Company, identical in all material respects to the Notes, including any Note
Guarantee related thereto, except they will not be subject to restrictions on transfer or to any increase in annual interest rate for failure to comply with this Agreement. 

Exchange Offer: The meaning set forth in Section 2(a). 

Exchange Offer Registration Statement: The meaning set forth in Section 2(a). 

FINRA: Financial Industry Regulatory Authority, Inc. 

Holder: Any beneficial holder of Registrable Notes. 

Indemnified Party: The meaning set forth in Section 7(c). 

Indemnifying Party: The meaning set forth in Section 7(c). 

Indenture: The Indenture, dated as of the Closing Date, among the Company, the Subsidiary Guarantors and U.S. Bank National
Association, as trustee, as amended or supplemented from time to time in accordance with the terms thereof, pursuant to which the Notes are being issued. 

Initial Purchasers: The meaning set forth in the introductory paragraph to this Agreement. 

Inspectors: The meaning set forth in Section 5(n). 

Losses: The meaning set forth in Section 7(a). 

Notes: The meaning set forth in the introductory paragraph to this Agreement. 

Participant: The meaning set forth in Section 7(a). 

Participating Broker-Dealer: The meaning set forth in Section 2(d). 

Person: An individual, trustee, corporation, partnership, limited liability company, joint stock company, trust, unincorporated
association, union, business association, firm, government or agency or political subdivision thereof, or other legal entity. 
 Private
Exchange: The meaning set forth in Section 2(e). 

  
 2 

 Private Exchange Notes: The meaning set forth in Section 2(e). 

Prospectus: The prospectus included in any Registration Statement (including, without limitation, a prospectus that discloses
information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Registrable Notes covered by such Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or
deemed to be incorporated by reference in such Prospectus to the extent such information has not been superseded or modified in accordance with Rule 412 promulgated under the Securities Act. 

Purchase Agreement: The meaning set forth in the introductory paragraph to this Agreement. 

Records: The meaning set forth in Section 5(n). 

Registrable Notes: Initially the Notes; provided, however, that a Note shall cease to be a Registrable Note upon the earliest to
occur of the following: (i) in the circumstances contemplated by Section 2(a), the Note has been exchanged for an Exchange Note in an Exchange Offer as contemplated in Section 2(a); (ii) in the circumstances contemplated by
Section 3, a Shelf Registration registering such Note under the Securities Act has been declared or becomes effective and such Note has been sold or otherwise transferred by the holder thereof pursuant to and in a manner contemplated by such
effective Shelf Registration; (iii) following the exchange by a broker-dealer in the Exchange Offer of a Note for an Exchange Note, upon such Exchange Note being sold to a purchaser who receives from such broker-dealer on or prior to the date
of such sale a copy of the Prospectus contained in the Exchange Offer Registration Statement; (iv) such Note is actually sold by the holder thereof pursuant to Rule 144 (or any similar provision then in force) under circumstances in which any
legend borne by such Note relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed by the Company or pursuant to the Indenture; or (v) such Note shall cease to be outstanding. 

Registration Statement: Any registration statement of the Company and the Subsidiary Guarantors filed with the SEC under the Securities
Act (including, but not limited to, the Exchange Offer Registration Statement, the Shelf Registration and any subsequent Shelf Registration) that covers any of the Registrable Notes pursuant to the provisions of this Agreement, including the
Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits and all material incorporated by reference or deemed to be incorporated by reference in such registration statement to the
extent such information has not been superseded or modified in accordance with Rule 412 promulgated under the Securities Act. 
 Rule
144: Rule 144 promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule (other than Rule 144A) or regulation hereafter adopted by the SEC providing for offers and sales of securities made in
compliance therewith resulting in offers and sales by subsequent holders that are not affiliates of an issuer or such securities being free of the registration and prospectus delivery requirements of the Securities Act. 

Rule 144A: Rule 144A promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule (other
than Rule 144) or regulation hereafter adopted by the SEC. 
 Rule 415: Rule 415 promulgated under the Securities Act, as such Rule
may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 

  
 3 

 Rule 430A: Rule 430A promulgated under the Securities Act, as such Rule may be amended
from time to time, or any similar rule or regulation hereafter adopted by the SEC. 
 SEC: The Securities and Exchange Commission.

 Securities: The Notes, the Exchange Notes and the Private Exchange Notes. 

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

Shelf Effectiveness Date: The meaning set forth in Section 3(a). 

Shelf Filing Date: The meaning set forth in Section 3(a). 

Shelf Notice: The meaning set forth in Section 2(i). 

Shelf Registration: The meaning set forth in Section 3(a). 

Subsidiary Guarantor: Each subsidiary of the Company that becomes a guarantor under the Indenture, unless and until such Subsidiary
Guarantor is released from its Note Guarantee pursuant to the Indenture. 
 TIA: The Trust Indenture Act of 1939, as amended. 

Trustee: The trustee under the Indenture and, if existent, the trustee under any indenture governing the Exchange Notes and Private
Exchange Notes (if any). 
 Underwritten Registration or Underwritten Offering: A registration in which securities of the Company are
sold to an underwriter for reoffering to the public. 
  

	2.	Registered Exchange Offer 

  

	 	(a)	Unless the Exchange Offer would not be permitted by applicable laws or applicable interpretations of the SEC staff, the Company shall (and shall cause each Subsidiary Guarantor to) (i) prepare and file with the SEC
after the date hereof a registration statement (the “Exchange Offer Registration Statement”) on an appropriate form under the Securities Act with respect to a registered offer (the “Exchange Offer”) to the Holders
of Notes to exchange the Notes for a like principal amount of Exchange Notes, (ii) use its commercially reasonable efforts to cause the Exchange Offer Registration Statement to become effective under the Securities Act on or prior to the
Effectiveness Date, (iii) use its commercially reasonable efforts to keep the Exchange Offer Registration Statement effective until the issuance of the Exchange Notes upon completion of the Exchange Offer in accordance with its terms, and
(iv) commence the Exchange Offer and use its commercially reasonable efforts to issue on or prior to 30 days, or longer if required by federal securities laws, after the date on which the Exchange Offer Registration Statement is declared
effective by the SEC, Exchange Notes in exchange for all Notes tendered prior thereto in the Exchange Offer. The Exchange Offer shall not be subject to any conditions, other than that the Exchange Offer does not violate applicable law or any
applicable interpretation of the staff of the SEC. 

  
 4 

	 	(b)	The Exchange Notes shall be issued under, and entitled to the benefits of, the Indenture or a trust indenture that is identical to the Indenture (other than such changes as are necessary to comply with any requirements
of the SEC to effect or maintain the qualification thereof under the TIA). 

  

	 	(c)	The Company shall require each Holder as a condition to participation in the Exchange Offer to represent (i) that it is not an affiliate of the Company, (ii) that any Exchange Notes received by it will be
acquired in the ordinary course of its business, (iii) that at the time of the commencement of the Exchange Offer such Holder has no arrangement or understanding with any Person to participate in the distribution (within the meaning of the
Securities Act) of the Exchange Notes in violation of the provisions of the Securities Act, (iv) if such Holder is a Participating Broker-Dealer, that it will deliver a Prospectus in connection with any resale of the Exchange Notes.

  

	 	(d)	The Company shall (and shall cause each Subsidiary Guarantor to) include within the Prospectus contained in the Exchange Offer Registration Statement a section entitled “Plan of Distribution” reasonably
acceptable to the Representative which shall contain a summary statement of the interpretative guidance or policies made by the staff of the SEC with respect to the potential “underwriter” status of any broker-dealer that is the beneficial
owner (as defined in Rule 13d-3 under the Exchange Act) of Exchange Notes received by such broker-dealer in the Exchange Offer for its own account in exchange for Notes that were acquired by it as a result of market-making or other trading activity
(a “Participating Broker-Dealer”), whether such interpretations or policies have been publicly disseminated by the staff of the SEC or such interpretations or policies, in the judgment of the Representative, represent the prevailing
views of the staff of the SEC. Such “Plan of Distribution” section shall also allow, to the extent permitted by applicable law and the interpretations of the SEC staff, the use of the Prospectus by all Persons subject to the prospectus
delivery requirements of the Securities Act, including, to the extent so permitted, all Participating Broker-Dealers, and include a statement describing the manner in which Participating Broker-Dealers may resell the Exchange Notes. The Company
shall use its commercially reasonable efforts to keep the Exchange Offer Registration Statement effective and to amend and supplement the Prospectus contained therein, in order to permit such Prospectus to be lawfully delivered by all Persons
subject to the prospectus delivery requirements of the Securities Act for such period of time as such Persons must comply with such requirements in order to resell the Exchange Notes (the “Applicable Period”). 

 

	 	(e)	If, upon consummation of the Exchange Offer, any of the Initial Purchasers holds any Notes acquired by it and having the status of an unsold allotment in the initial distribution, the Company (upon the written request
from such Initial Purchaser, which request must be made no later than the date of acceptance in the Exchange Offer) shall, simultaneously with the delivery of the Exchange Notes in the Exchange Offer, issue and deliver to such Initial Purchaser, in
exchange (the “Private Exchange”) for the Notes held by such Initial Purchaser, a like principal amount of notes that are identical to the Exchange Notes in all material respects, including any Note Guarantee related thereto, except
for the existence of restrictions on transfer thereof under the Securities Act and securities laws of the several states of the United States (the “Private Exchange Notes”) (and which are issued pursuant to the same indenture as the
Exchange Notes). To the extent practicable, the Private Exchange Notes shall bear the same CUSIP number as the Exchange Notes. 

  
 5 

	 	(f)	In connection with the Exchange Offer, the Company shall (and shall cause each Subsidiary Guarantor to): 

  

	 	(i)	mail to each Holder entitled to participate in the Exchange Offer a copy of the Prospectus forming part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal that is an exhibit
to the Exchange Offer Registration Statement, and any related documents; 

  

	 	(ii)	use commercially reasonable efforts to keep the Exchange Offer open for not less than 30 days after the date notice thereof is mailed to the Holders entitled to participate in the Exchange Offer (or longer if required
by applicable law); 

  

	 	(iii)	utilize the services of a depository for the Exchange Offer with an address in the City of New York, which may be the Trustee or an affiliate thereof; 

 

	 	(iv)	permit Holders to withdraw tendered Registrable Notes at any time prior to the close of business, New York City time, on the date of acceptance for exchange; and 

 

	 	(v)	otherwise comply in all material respects with all applicable laws. 

  

	 	(g)	As soon as practicable after the close of the Exchange Offer or the Private Exchange, as the case may be, the Company shall (and shall cause each Subsidiary Guarantor to): 

 

	 	(i)	accept for exchange all Registrable Notes validly tendered pursuant to the Exchange Offer or the Private Exchange, as the case may be, and not validly withdrawn; 

 

	 	(ii)	deliver to the Trustee for cancellation all Registrable Notes or portions thereof so accepted for exchange; and 

  

	 	(iii)	cause the Trustee to authenticate and deliver promptly to each Holder tendering such Registrable Notes, Exchange Notes or Private Exchange Notes, as the case may be, equal in principal amount to the Notes of such Holder
so accepted for exchange. 

  

	 	(h)	The Exchange Notes and the Private Exchange Notes may be issued under (i) the Indenture or (ii) an indenture substantially identical to the Indenture (other than such changes as are necessary to comply with
any requirements of the SEC to effect or maintain the qualification thereof under the TIA), which in either event will provide that the Exchange Notes will not be subject to the transfer restrictions set forth in the Indenture, that the Private
Exchange Notes will be subject to the transfer restrictions set forth in the Indenture, and that the Exchange Notes, the Private Exchange Notes and the Notes, if any, will be deemed one class of security (subject to the provisions of the Indenture),
entitled to participate in any Note Guarantee on an equal and ratable basis and that neither the Exchange Notes nor the Private Exchange Notes will be subject to any increase in annual interest rate for failure to comply with this Agreement.

  
 6 

	 	(i)	If: (i) prior to the consummation of the Exchange Offer, the Holders of a majority in aggregate principal amount of Registrable Notes determine in their reasonable judgment that (A) the Exchange Notes would
not, upon receipt, be tradeable by the Holders thereof without restriction under the Securities Act and the Exchange Act and without material restrictions under applicable Blue Sky or state securities laws, or (B) the interests of the Holders
under this Agreement, taken as a whole, would be materially adversely affected by the consummation of the Exchange Offer; (ii) applicable interpretations of the staff of the SEC would not permit the consummation of the Exchange Offer;
(iii) subsequent to the consummation of the Private Exchange, any Holder of Private Exchange Notes so requests; (iv) the issuance of the Exchange Notes upon completion of the Exchange Offer has not occurred within 365 days of the Closing
Date for any reason; or (v) in the case of (A) any Holder not permitted by law or applicable SEC staff interpretations to participate in the Exchange Offer, (B) any Holder participating in the Exchange Offer receives Exchange Notes
that may not be sold without restriction under state and federal securities laws (other than due solely to the status of such Holder as an affiliate of the Company within the meaning of the Securities Act) or (C) any broker-dealer that holds
Notes acquired directly from the Company or any of its affiliates and, in each such case contemplated by this clause (v), such Holder notifies the Company within 90 days following consummation of the Exchange Offer, then the Company shall promptly
(and in any event within five Business Days) deliver to the Holders (or in the case of an occurrence of any event described in clause (v) of this Section 2(i), to any such Holder) and the Trustee notice thereof (the “Shelf
Notice”) and shall on a single occasion file a Shelf Registration pursuant to Section 3. 

  

	3.	Shelf Registration 

 If a Shelf Notice is delivered pursuant to Section 2(i),
then this Section 3 shall apply to all Registrable Notes. Otherwise, upon consummation of the Exchange Offer in accordance with Section 2, the provisions of Section 3 shall apply solely with respect to (i) Notes held by any
Holder thereof not permitted to participate in the Exchange Offer as contemplated by Section 2(i)(v)(A), (ii) Notes held by any broker-dealer that acquired such Notes directly from the Company or any of its affiliates as contemplated by
Section 2(i)(v)(C) and (iii) Exchange Notes that are not freely tradeable as contemplated by Section 2(i)(v)(C) hereof, provided in each case that the relevant Holder has duly notified the Company within 90 days following consummation
of the Exchange Offer as required by Section 2(i)(v) hereof. 
  

	 	(a)	Shelf Registration. The Company shall (and shall cause each Subsidiary Guarantor to), file on a single occasion with the SEC a Registration Statement for an offering to be made on a continuous basis pursuant to
Rule 415 covering all of the Registrable Notes (the “Shelf Registration”). The Company shall (and shall cause each Subsidiary Guarantor to) use its commercially reasonable efforts to file with the SEC the Shelf Registration within
30 days of the delivery of the Shelf Notice (the “Shelf Filing Date”) and shall use its commercially reasonable efforts to cause such Shelf Registration to be declared effective under the Securities Act as promptly as practicable
thereafter (but in no event more than 120 days after delivery of the Shelf Notice) (the “Shelf Effectiveness Date).” The Shelf Registration shall be on Form S-3 or another appropriate form permitting registration of such Registrable
Notes for resale by Holders in the manner or manners reasonably designated by them (including, without limitation, one or more underwritten offerings). The Company and Subsidiary Guarantors shall not permit any securities other than the Registrable
Notes to be included in any Shelf Registration. The Company shall (and shall cause each Subsidiary Guarantor to) use its commercially reasonable efforts to keep the Shelf Registration continuously effective under the Securities Act until the date
which is two years from the Closing Date (subject to extension pursuant to the last sentence of Section 5(u) (the “Effectiveness Period”), or such shorter period ending when (i) all Registrable Notes covered by the Shelf
Registration have been sold in the manner set forth and as contemplated in the Shelf Registration or (ii) there cease to be any outstanding Registrable Notes. 

  
 7 

	 	(b)	Shelf Registration Effectiveness. If the Shelf Registration ceases to be effective for any reason at any time during the Effectiveness Period (other than because of the sale of all of the securities registered
thereunder or because there cease to be any outstanding Registrable Notes), the Company shall (and shall cause each Subsidiary Guarantor to) use its commercially reasonable efforts to obtain the prompt withdrawal of any order suspending the
effectiveness thereof, and in any event shall within 30 days of such cessation of effectiveness amend such Shelf Registration in a manner to obtain the withdrawal of the order suspending the effectiveness thereof. 

 

	 	(c)	Supplements and Amendments. The Company shall promptly supplement and amend any Shelf Registration if required by the rules, regulations or instructions applicable to the registration form used for such Shelf
Registration, if required by the Securities Act, or if reasonably requested in writing by the Holders of a majority in aggregate principal amount of the Registrable Notes covered by such Shelf Registration or by any underwriter of such Registrable
Notes. 

  

	 	(d)	Provision of Information. No Holder of Registrable Notes shall be entitled to include any of its Registrable Notes in any Shelf Registration pursuant to this Agreement unless such Holder furnishes to the Company
and the Trustee in writing, within 10 days after receipt of a written request therefor, such information as the Company and the Trustee after conferring with counsel with regard to information relating to Holders that would be required by the SEC to
be included in such Shelf Registration or Prospectus included therein, may reasonably request for inclusion in any Shelf Registration or Prospectus included therein, and no such Holder shall be entitled to Additional Interest pursuant to
Section 4 hereof unless and until such Holder shall have provided such information. 

  

	4.	Additional Interest 

  

	 	(a)	The Company and each Subsidiary Guarantor acknowledges and agrees that the Holders of Registrable Notes will suffer damages if the Company or any Subsidiary Guarantor fails to fulfill its material obligations under
Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, the Company and the Subsidiary Guarantors agree to pay additional cash interest on the Notes
(“Additional Interest”) under the circumstances and to the extent set forth below (and, for clarity, the amount of Additional Interest payable shall not increase because more than one registration default has occurred or is
pending): 

  

	 	(i)	if the Shelf Registration has not been filed on or prior to the Shelf Filing Date, Additional Interest shall accrue on the Notes over and above any stated interest at a rate of 0.25% per annum of the principal
amount of such Notes for the first 90 days immediately following the Shelf Filing Date, such Additional Interest rate increasing by an additional 0.25% per annum on the first day of each subsequent 90-day period; 

 

	 	(ii)	if neither the Exchange Offer Registration Statement nor the Shelf Registration is declared effective on or prior to the Effectiveness Date or the Shelf Effectiveness Date, respectively, Additional Interest shall accrue
on the Notes over and above any stated interest at a rate of 0.25% per annum of the principal amount of such Notes for the first 90 days immediately following the Effectiveness Date, such Additional Interest rate increasing by an additional
0.25% per annum on the first day of each subsequent 90-day period; 

  
 8 

	 	(iii)	if (A) the Company (and any Subsidiary Guarantor) has not exchanged Exchange Notes for all Notes validly tendered in accordance with the terms of the Exchange Offer on or prior to the 30 days after the
Effectiveness Date, (B) the Exchange Offer Registration Statement ceases to be effective at any time prior to the time that the Exchange Notes are issued upon completion of the Exchange Offer, (C) if applicable, a Shelf Registration has
been declared effective and such Shelf Registration ceases to be effective at any time prior to the second anniversary of its effective date (other than such time as all Notes have been disposed of thereunder or no Registrable Notes are outstanding)
and is not declared effective again within 30 days of the date on which the Shelf Registration Statement ceased to be effective, or (D) the Company issues a written notice pursuant to Section 5(e)(iv) or (v) that a Shelf Registration
Statement or Exchange Offer Registration Statement is unusable and the aggregate number of days in any 365-day period for which all such notices issued or required to be issued, have been, or were required to be, in effect exceeds 120 days in the
aggregate or 30 days consecutively, in the case of a Shelf Registration statement, or 15 days in the aggregate in the case of an Exchange Offer Registration Statement, then Additional Interest shall accrue on the Notes, over and above any stated
interest, at a rate of 0.25% per annum of the principal amount of such Notes commencing on (w) the 31st day after the Effectiveness Date, in the case of (A) above, or (x) the date the Exchange Offer Registration Statement ceases
to be effective without being declared effective again within 30 days, in the case of clause (B) above, or (y) the day such Shelf Registration ceases to be effective in the case of (C) above, or (z) the day the Exchange Offer
Registration Statement or Shelf Registration ceases to be usable in case of clause (D) above, such Additional Interest rate increasing by an additional 0.25% per annum on the first day of each such subsequent 90-day period;

 provided, however, that the maximum Additional Interest rate on the Notes may not exceed at any one time in the
aggregate 1.00% per annum of the principal amount of the Notes; and provided further, that (1) upon the filing of the Shelf Registration (in the case of (i) above), (2) upon the effectiveness of the Exchange Offer
Registration Statement or Shelf Registration (in the case of (ii) above), or (3) upon the exchange of Exchange Notes for all Notes tendered (in the case of (iii)(A) above), or upon the effectiveness of the Exchange Offer Registration
Statement that had ceased to remain effective (in the case of clause (iii)(B) above), or upon the effectiveness of a Shelf Registration which had ceased to remain effective (in the case of (iii)(C) above), Additional Interest on the Notes as a
result of such clause (or the relevant subclause thereof) or upon the usability of such Registration Statement or Exchange Offer Registration Statement (in the case of clause (iii)(D) above), as the case may be, shall cease to accrue. 

 

	 	(b)	 The Company shall notify the Trustee within 5 Business Days after each and every date on which an event occurs in respect of which Additional Interest
is required to be paid (an “Event Date”). Any amounts of Additional Interest due pursuant to clause (a)(i), (a)(ii) or (a)(iii) of this Section 4 will be payable in cash, on the dates and in the manner provided in the
Indenture and whether or not any cash interest would then be payable on such date, commencing with the first such semi-annual date occurring after any such Additional Interest commences to accrue.

  
 9 

	 	
The amount of Additional Interest will be determined by multiplying the applicable Additional Interest rate by the principal amount of all Notes outstanding on the first date on which Additional
Interest is payable, multiplied by a fraction, the numerator of which is the number of days such Additional Interest rate was applicable during such period (determined on the basis of a 360-day year comprised of twelve 30-day months and, in the case
of a partial month, the actual number of days elapsed), and the denominator of which is 360. 

  

	5.	Registration Procedures 

 In connection with the filing of any Registration
Statement pursuant to Sections 2 or 3 hereof, the Company shall (and shall cause each Subsidiary Guarantor to) effect such registrations to permit the exchange or sale of such securities covered thereby in accordance with the intended method or
methods of disposition thereof, and pursuant thereto and in connection with any Registration Statement filed by the Company hereunder, the Company shall (and shall cause each Subsidiary Guarantor to): 

 

	 	(a)	Prepare and file with the SEC the Exchange Offer Registration Statement or if the Exchange Offer Registration Statement is not filed because of the circumstances contemplated by Section 2(i), a Shelf Registration
as prescribed by Section 3, and use its commercially reasonable efforts to cause each such Registration Statement to become effective and remain effective as provided herein. 

 

	 	(b)	Provide an indenture trustee for the Registrable Notes, the Exchange Notes or the Private Exchange Notes, as the case may be, and cause the Indenture (or other indenture relating to the Registrable Notes) to be
qualified under the TIA not later than the effective date of the first Registration Statement; and in connection therewith, to effect such changes to such indenture as may be required for such indenture to be so qualified in accordance with the
terms of the TIA; and execute, and use its commercially reasonable efforts to cause such trustee to execute, all documents as may be required to effect such changes, and all other forms and documents required to be filed with the SEC to enable such
indenture to be so qualified in a timely manner. 

  

	 	(c)	Prepare and file with the SEC such pre-effective amendments and post-effective amendments to each Shelf Registration or Exchange Offer Registration Statement, as the case may be, as may be necessary to keep such
Registration Statement continuously effective for the Effectiveness Period or the Applicable Period, as the case may be; and cause the related Prospectus to be supplemented by any Prospectus supplement required by applicable law, and as so
supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) promulgated under the Securities Act. 

  

	 	(d)	 Furnish to such selling Holders and Participating Broker-Dealers who so request in writing (i) one confirmed copy of such Registration Statement
and of each amendment and supplement thereto (in each case including any documents incorporated therein by reference and all exhibits), (ii) such reasonable number of copies of the Prospectus included in such Registration Statement (including
each preliminary Prospectus) and each amendment and supplement thereto, and such reasonable number of copies of the final Prospectus as filed by the Company and each Subsidiary Guarantor pursuant to Rule 424(b) under the Securities Act, in
conformity with the requirements of the Securities Act and each amendment and supplement thereto, and (iii) such other documents (including any amendments required to be filed pursuant to clause (c) of this Section), as any such Person may
reasonably request in writing. 

  
 10 

	 	
The Company and the Subsidiary Guarantors hereby consent to the use of the Prospectus by each of the selling Holders of Registrable Notes or each such Participating Broker-Dealer, as the case may
be, and the underwriters or agents, if any, and dealers, if any, in connection with the offering and sale of the Registrable Notes covered by, or the sale by Participating Broker-Dealers of the Exchange Notes pursuant to, such Prospectus and any
amendment or supplement thereto. 

  

	 	(e)	If (1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2 is required to be delivered under the
Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto, the Company shall notify in writing the selling Holders of Registrable Notes, or each such Participating Broker-Dealer,
as the case may be, the managing underwriters, if any, and each of their respective counsel (if such counsel is known to the Company) as promptly as possible (i) when a Prospectus or any Prospectus supplement or post-effective amendment has
been filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective (including in such notice a written statement that any Holder may, upon request, obtain, without charge, one conformed copy
of such Registration Statement or post-effective amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference and exhibits), (ii) of the issuance by the SEC of any stop order
suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of any Prospectus or the initiation of any proceedings for that purpose, (iii) of the receipt by the Company or any Subsidiary Guarantor
of any notification with respect to the suspension of the qualification or exemption from qualification of a Registration Statement or any of the Registrable Notes or the Exchange Notes to be sold by any Participating Broker-Dealer for offer or sale
in any jurisdiction, or the initiation or threatening of any proceeding for such purpose, (iv) of the happening of any event, the existence of any condition or any information becoming known that makes any statement made in such Registration
Statement or related Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in, or amendments or supplements to, such Registration
Statement, Prospectus or documents so that, in the case of the Registration Statement, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein to make the statement not misleading,
or in the case of a Prospectus or documents incorporated or deemed to be incorporated by reference, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made, not misleading and (v) of any reasonable determination by the Company or any Subsidiary Guarantor that a post-effective amendment to a Registration Statement would be
appropriate. 

  

	 	(f)	Use its commercially reasonable efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of a Prospectus or suspending the
qualification (or exemption from qualification) of any of the Registrable Notes or the Exchange Notes to be sold by any Participating Broker-Dealer, for sale in any jurisdiction, and, if any such order is issued, to use its commercially reasonable
efforts to obtain the withdrawal of any such order at the earliest practicable date. 

  
 11 

	 	(g)	If (1) a Shelf Registration is filed pursuant to Section 3 hereof or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required under the
Securities Act to be delivered by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period and if reasonably requested by any Participating Broker-Dealer, (i) promptly incorporate in such Shelf Registration,
Exchange Offer Registration Statement or Prospectus such information as any Participating Broker-Dealer (based upon advice of counsel), determines is reasonably necessary to be included therein, provided that the Company is entitled to incorporate
such information by means of a prospectus supplement filed pursuant to Rule 424(b) and (ii) make all required filings of such prospectus supplement as soon as practicable after the Company has received notification of the matters to be
incorporated in such prospectus supplement; provided, however, that the Company shall not be required to take any action that would, in the written opinion of counsel to the Company, violate applicable laws. 

 

	 	(h)	Prior to any public offering of Registrable Notes or any delivery of a Prospectus contained in the Exchange Offer Registration Statement by any Participating Broker-Dealer who seeks to sell Exchange Notes during the
Applicable Period, use its commercially reasonable efforts to register or qualify, and to cooperate with the selling Holders of Registrable Notes or each such Participating Broker-Dealer, as the case may be, the underwriters, if any, and their
respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of such Registrable Notes or Exchange Notes, as the case may be, for offer and sale under the securities or Blue Sky laws
of such jurisdictions within the United States as any selling Holder, Participating Broker-Dealer or any managing underwriter or underwriters, if any, reasonably request in writing; provided, that where Exchange Notes held by Participating
Broker-Dealers or Registrable Notes are offered other than through an underwritten offering, the Company and each Subsidiary Guarantor agree to cause their counsel to perform Blue Sky investigations and file any registrations and qualifications
required to be filed pursuant to this Section 5(h), keep each such registration or qualification (or exemption therefrom) effective during the period such Registration Statement is required to be kept effective and do any and all other acts or
things reasonably necessary or advisable to enable the disposition in such jurisdictions of the Exchange Notes held by Participating Broker-Dealers or the Registrable Notes covered by the applicable Registration Statement; provided that
neither the Company nor any Subsidiary Guarantor shall be required to (A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service of process in
any such jurisdiction where it is not then so subject or (C) subject itself to taxation in any such jurisdiction where it is not then so subject. 

  

	 	(i)	If (A) a Shelf Registration is filed pursuant to Section 3 or (B) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2 is requested to be delivered under the
Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, cooperate with the selling Holders of Registrable Notes and the managing underwriter or underwriters, if any, to facilitate the timely
preparation and delivery of certificates representing Registrable Notes to be sold, which certificates shall not bear any restrictive legends and shall be in a form eligible for deposit with The Depository Trust Company, and enable such Registrable
Notes to be in such denominations and registered in such names as the managing underwriter or underwriters, if any, or Holders may reasonably request. 

  
 12 

	 	(j)	Use its commercially reasonable efforts to cause the Registrable Notes covered by any Registration Statement to be registered with or approved by such governmental agencies or authorities as may be necessary to enable
the seller or sellers thereof or the underwriter, if any, to consummate the disposition of such Registrable Notes, except as may be required solely as a consequence of the nature of such selling Holder’s business, in which case the Company
shall (and shall cause each Subsidiary Guarantor to) cooperate to the extent reasonable with the filing of such Registration Statement and the granting of such approvals; provided that neither the Company nor any existing Subsidiary Guarantor
shall be required to (A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service of process in any jurisdiction where it is not then so subject or
(C) subject itself to taxation in any such jurisdiction where it is not then so subject. 

  

	 	(k)	If (1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2 is required to be delivered under the
Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, upon the occurrence of any event contemplated by paragraph 6(d)(iv) or 6(d)(v) hereof, as promptly as practicable, prepare and file with
the SEC, at the expense of the Company and the Subsidiary Guarantors, a supplement or post-effective amendment to the Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein
by reference, or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Notes being sold thereunder or to the purchasers of the Exchange Notes to whom such Prospectus will be delivered by a
Participating Broker-Dealer, and, if SEC review is required, use its commercially reasonable efforts to cause such post-effective amendment to be declared effective as soon as possible. 

 

	 	(l)	Prior to the initial issuance of the Exchange Notes, (i) provide the Trustee with one or more certificates for the Registrable Notes in a form eligible for deposit with The Depository Trust Company and
(ii) provide a CUSIP number for the Exchange Notes. 

  

	 	(m)	If a Shelf Registration is filed pursuant to Section 3, take all actions in connection therewith (including those reasonably requested in writing by the managing underwriters, if any, or the Holders of a majority
in aggregate principal amount of the Registrable Notes being sold) in order to expedite or facilitate the registration or the disposition of such Registrable Notes, and in such connection, whether or not an underwriting agreement is entered into and
whether or not the registration is an Underwritten Registration, (i) to the extent possible, make such representations and warranties to the Holders and the underwriters, if any, with respect to the business of the Company and its subsidiaries
as then conducted, and the Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily made by issuers to underwriters in
underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances, and confirm the same if and when reasonably required; (ii) take commercially reasonable efforts to obtain an opinion of counsel to the
Company and the Subsidiary Guarantors and updates thereof covering the matters customarily covered in opinions of counsel to the Company and the Subsidiary Guarantors requested in underwritten offerings of debt securities similar to the Notes, as
may be appropriate in the circumstances; (iii) take commercially reasonable efforts to obtain “cold comfort” letters and updates thereof from the independent certified public accountants of the Company and the Subsidiary Guarantors
(and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by the Company for which financial statements and financial data are, or are required to be, included in the
Registration Statement), such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with underwritten offerings of debt securities similar to the Notes, as may be
appropriate in the circumstances; and (iv) deliver such documents and certificates as may be reasonably requested in writing by the Holders of a majority in aggregate principal amount of the Registrable Notes being sold and the managing
underwriters, if any, to evidence the continued validity of the representations and warranties of the Company and its subsidiaries made pursuant to clause (i) above and to evidence compliance with any conditions contained in the underwriting
agreement or other similar agreement entered into by the Company or any Subsidiary Guarantor. 

  
 13 

	 	(n)	If (1) a Shelf Registration is filed pursuant to Section 3 or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2 is required to be delivered under the
Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, make available for inspection by any selling Holder of such Registrable Notes being sold, or each such Participating Broker-Dealer, as
the case may be, any underwriter participating in any such disposition of Registrable Notes, if any, and any attorney, accountant or other agent retained by each such Participating Broker-Dealer (but not more than one counsel and one accounting firm
acting for all such Participating Broker-Dealers) or underwriter (but not more than one counsel and one accounting firm acting for all such underwriters) (collectively, the “Inspectors”), at the offices where normally kept, during
reasonable business hours, all financial and other records, pertinent corporate documents and instruments of the Company and its subsidiaries (collectively, the “Records”) as shall be reasonably necessary to enable them to exercise
any applicable due diligence responsibilities, and cause the officers, directors and employees of the Company and its subsidiaries to supply all information reasonably requested by any such Inspector in connection with such Shelf Registration,
Exchange Offer Registration Statement or Prospectus; provided that the foregoing investigation and information gathering shall be coordinated on behalf of all such parties by one counsel designated on behalf of such parties. Prior to
receiving access to any Records, each Inspector shall enter into a written agreement reasonably satisfactory to the Company to the effect that it will keep the Records and all such information confidential and that it will not, without the prior
written consent of the Company, disclose, or use for any purposes other than in connection with its due diligence investigation, any Records or any such information unless (i) the release of such Records or any such information is ordered
pursuant to a subpoena or other order from a court of competent jurisdiction, (ii) disclosure of such information is necessary or advisable in the opinion of counsel for an Inspector in connection with any action, claim, suit or proceeding,
directly or indirectly, involving such Inspector and arising out of, based upon, relating to, or involving this Agreement or the Purchase Agreement, or any transactions contemplated hereby or thereby or arising hereunder or thereunder, or
(iii) the information in such Records or such information has been made generally available to the public other than as a result of a disclosure or failure to safeguard such information by an Inspector; provided, however, that
(A) each Inspector shall agree to use commercially reasonable efforts to provide notice to the Company of the potential disclosure of any information by such Inspector pursuant to clause (i) or (ii) of this sentence to permit the
Company to obtain a protective order (or waive the provisions of this paragraph (n)) and (B) each such Inspector shall take such actions as are reasonably necessary to protect the confidentiality of such information to the extent such action is
otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of the Holder, Participating Broker-Dealer or underwriter, as the case may be. 

  
 14 

	 	(o)	Comply with all applicable rules and regulations of the SEC and make generally available to the security holders of the Company with regard to any Applicable Registration Statement earning statements satisfying the
provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 45 days after the end of any 12-month period (or 90 days after the end of any 12-month period if
such period is a fiscal year) (i) commencing at the end of any fiscal quarter in which Registrable Notes are sold to underwriters in a firm commitment or best efforts underwritten offering and (ii) if not sold to underwriters in such an
offering, commencing on the first day of the first fiscal quarter of the Company after the effective date of a Registration Statement, which statements shall cover said 12-month periods. 

 

	 	(p)	Upon the written request of a Holder, after consummation of an Exchange Offer or Private Exchange, obtain an opinion of counsel to the Company and the Subsidiary Guarantors, addressed to the Trustee for the benefit of
all Holders participating in the Exchange Offer or Private Exchange, as the case may be, to the effect that (i) the Company and the Subsidiary Guarantors have duly authorized, executed and delivered the Exchange Notes or the Private Exchange
Notes, as the case may be, and the Indenture and (ii) the Exchange Notes or the Private Exchange Notes, as the case may be, and the Indenture constitute legal, valid and binding obligations of the Company and the Subsidiary Guarantors,
enforceable against the Company and the Subsidiary Guarantors in accordance with their respective terms, except as such enforcement may be subject to customary United States and foreign exceptions. 

 

	 	(q)	If the Exchange Offer or a Private Exchange is to be consummated, upon delivery of the Registrable Notes by the Holders to the Company and the Subsidiary Guarantors (or to such other Person as directed by the Company
and the Subsidiary Guarantors) in exchange for the Exchange Notes or the Private Exchange Notes, as the case may be, the Company and the Subsidiary Guarantors shall mark, or caused to be marked, on such Registrable Notes that the Exchange Notes or
the Private Exchange Notes, as the case may be, are being issued as substitute evidence of the indebtedness originally evidenced by the Registrable Notes; provided that in no event shall such Registrable Notes be marked as paid or otherwise
satisfied. 

  

	 	(r)	Cooperate with each seller of Registrable Notes covered by any Registration Statement and each underwriter, if any, participating in the disposition of such Registrable Notes and their respective counsel in connection
with any filings required to be made with FINRA. 

  

	 	(s)	Use its commercially reasonable efforts to take all other steps reasonably necessary to effect the registration of the Registrable Notes covered by a Registration Statement contemplated hereby. 

 

	 	(t)	 The Company may require each seller of Registrable Notes or Participating Broker-Dealer as to which any registration is being effected to furnish to
the Company such information regarding such seller or Participating Broker-Dealer and the distribution of such Registrable Notes as the Company may, from time to time, reasonably request in writing.

  
 15 

	 	
The Company may exclude from such registration the Registrable Notes of any seller who fails to furnish such information within a reasonable time (which time in no event shall exceed 20 days,
subject to Section 3(d) hereof) after receiving such request and in the event of such an exclusion, the Company shall have no further obligation under this Agreement (including, without limitation, the obligations under Section 4) with
respect to such seller or any subsequent Holder of such Registrable Notes. Each seller of Registrable Notes or Participating Broker-Dealer as to which any registration is being effected agrees to furnish promptly to the Company all information
required to be disclosed in order to make the information previously furnished by such seller not materially misleading. 

  

	 	(u)	Each Holder of Registrable Notes and each Participating Broker-Dealer agrees by acquisition of such Registrable Notes or Exchange Notes to be sold by such Participating Broker-Dealer, as the case may be, that, upon
receipt of any notice from the Company of the happening of any event of the kind described in Section 5(e)(ii)-(v), such Holder will forthwith discontinue disposition of such Registrable Notes covered by a Registration Statement and such
Participating Broker-Dealer will forthwith discontinue disposition of such Exchange Notes pursuant to any Prospectus and, in each case, forthwith discontinue dissemination of such Prospectus until such Holder’s or Participating
Broker-Dealer’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 5(k), or until it is advised in writing (the “Advice”) by the Company and the Subsidiary Guarantors that the use of
the applicable Prospectus may be resumed, and has received copies of any amendments or supplements thereto and, if so directed by the Company and the Subsidiary Guarantors, such Holder or Participating Broker-Dealer, as the case may be, will deliver
to the Company all copies, other than permanent file copies, then in such Holder’s or Participating Broker-Dealer’s possession, of the Prospectus covering such Registrable Notes current at the time of the receipt of such notice. In the
event the Company and the Subsidiary Guarantors shall give any such notice, the Applicable Period shall be extended by the number of days during such periods from and including the date of the giving of such notice to and including the date when
each Participating Broker-Dealer shall have received (x) the copies of the supplemented or amended Prospectus contemplated by Section 5(k) or (y) the Advice. 

 

	6.	Registration Expenses 

  

	 	(a)	 All fees and expenses incident to the performance of or compliance with this Agreement by the Company and the Subsidiary Guarantors shall be borne by
the Company and the Subsidiary Guarantors, whether or not the Exchange Offer or a Shelf Registration is filed or becomes effective, including, without limitation, (i) all registration and filing fees, including, without limitation,
(A) fees with respect to filings required to be made with FINRA in connection with any underwritten offering and (B) fees and expenses of compliance with state securities or Blue Sky laws as provided in Section 5(h) hereof (including,
without limitation, reasonable fees and disbursements of counsel in connection with Blue Sky qualifications of the Registrable Notes or Exchange Notes and determination of the eligibility of the Registrable Notes or Exchange Notes for investment
under the laws of such jurisdictions (x) where the Holders are located, in the case of the Exchange Notes, or (y) as provided in Section 5(h), in the case of Registrable Notes or Exchange Notes to be sold by a Participating
Broker-Dealer during the Applicable Period)), (ii) printing expenses, including, without limitation, expenses of printing Prospectuses if the printing of Prospectuses is requested by the managing underwriter or underwriters, if any, or by the
Holders of a majority in aggregate principal amount of the Registrable Notes included in any Registration Statement 

  
 16 

	 	
or by any Participating Broker-Dealer during the Applicable Period, as the case may be, (iii) messenger, telephone and delivery expenses incurred in connection with the performance of their
obligations hereunder, (iv) fees and disbursements of counsel for the Company, the Subsidiary Guarantors and, subject to 7(b), the Holders, (v) fees and disbursements of all independent certified public accountants referred to in
Section 5 (including, without limitation, the expenses of any special audit and “cold comfort” letters required by or incident to such performance), (vi) rating agency fees and the fees and expenses incurred in connection with
the listing of the Securities to be registered on any securities exchange, (vii) Securities Act liability insurance, if the Company and the Subsidiary Guarantors desire such insurance, (viii) fees and expenses of all other Persons retained
by the Company and the Subsidiary Guarantors, (ix) fees and expenses of any “qualified independent underwriter” or other independent appraiser participating in an offering pursuant to Section 3 of Schedule E to the By-laws of
FINRA, but only where the need for such a “qualified independent underwriter” arises due to a relationship with the Company and the Subsidiary Guarantors, (x) internal expenses of the Company and the Subsidiary Guarantors (including,
without limitation, all salaries and expenses of officers and employees of the Company or the Subsidiary Guarantors performing legal or accounting duties), (xi) the expense of any annual audit, (xii) the fees and expenses of the Trustee
and the Exchange Agent and (xiii) the expenses relating to printing, word processing and distributing all Registration Statements, underwriting agreements, securities sales agreements, indentures and any other documents necessary in order to
comply with this Agreement, but in each case excluding fees of counsel to the underwriters or the Holders (except as set forth in this Section 6(a)(i)(B) and Section 6(b)). Notwithstanding the foregoing or anything to the contrary in this
Agreement, each Participating Broker-Dealer shall pay all discounts and commissions with respect to any sale of Exchange Notes by or on behalf of it. 

  

	 	(b)	The Company and the Subsidiary Guarantors shall reimburse the Holders for the reasonable fees and disbursements of not more than one counsel chosen by the Holders of a majority in aggregate principal amount of the
Registrable Notes to be included in any Registration Statement. 

  

	7.	Indemnification 

  

	 	(a)	 Indemnification by the Company and the Subsidiary Guarantors. The Company and the Subsidiary Guarantors jointly and severally agree to
indemnify and hold harmless each Holder of Registrable Notes, Exchange Notes or Private Exchange Notes and each Participating Broker-Dealer selling Exchange Notes during the Applicable Period, each Person, if any, who controls each such Holder
(within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act) and the officers, directors and partners of each such Holder, Participating Broker-Dealer and controlling person (each, a
“Participant”), to the fullest extent lawful, from and against any and all losses, claims, damages, liabilities, costs (including, without limitation, reasonable costs of preparation and reasonable attorneys’ fees as provided
in this Section 7) and expenses (including, without limitation, reasonable costs and expenses incurred in connection with investigating, preparing, pursuing or defending against any of the foregoing) (collectively, “Losses”),
as incurred, directly or indirectly caused by, related to, based upon, arising out of or in connection with, in the case of the Registration Statement or in any amendments thereto, any untrue or alleged untrue statement of a material fact contained
therein or any omission or alleged omission to state therein a material fact required to be stated therein to make the statements not misleading, or in the case 

  
 17 

	 	
of any Prospectus or form of prospectus, or in any amendment or supplement thereto, or in any preliminary prospectus, any untrue or alleged untrue statement of a material fact contained therein
or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however, that
the foregoing indemnity (i) shall not be available insofar as such Losses are solely based upon information relating to such Holder or Participating Broker-Dealer and furnished in writing to the Company and the Subsidiary Guarantors by such
Holder or Participating Broker-Dealer or their counsel expressly for use therein, and (ii) with respect to any preliminary prospectus, shall not inure to the benefit of any Participant from whom the Person asserting such Losses purchased
Exchange Notes if (x) it is established in the related proceeding that such Participant failed to send or give a copy of the Prospectus (as amended or supplemented if such amendment or supplement was furnished to such Participant prior to the
written confirmation of such sale) to such Person with or prior to the written confirmation of such sale, if required by applicable law, and (y) the untrue statement or omission or alleged untrue statement or omission was corrected in the
Prospectus (as amended or supplemented if amended or supplemented as aforesaid) and such Prospectus does not contain any other untrue statement or omission or alleged untrue statement or omission that was the subject matter of the related
proceeding. 

  

	 	(b)	Indemnification by Holder. In connection with any Registration Statement, Prospectus or form of prospectus, any amendment or supplement thereto, or any preliminary prospectus in which a Holder is participating,
such Holder shall furnish to the Company and the Subsidiary Guarantors in writing such information as the Company and the Subsidiary Guarantors reasonably request for use in connection with any Registration Statement, Prospectus or form of
prospectus, any amendment or supplement thereto, or any preliminary prospectus and shall indemnify and hold harmless the Company, the Subsidiary Guarantors, their respective directors, officers and partners and each Person, if any, who controls the
Company and the Subsidiary Guarantors (within the meaning of Section 15 of the Securities Act and Section 20(a) of the Exchange Act), and the directors, officers and partners of such controlling persons, to the fullest extent lawful, from
and against all Losses as incurred, directly or indirectly caused by, relating to, based upon, arising out of or in connection with, in the case of the Registration Statement or in any amendments thereto, any untrue or alleged untrue statement of a
material fact contained therein or any omission or alleged omission to state therein a material fact required to be stated therein to make the statements not misleading, or in the case of any Prospectus or form of prospectus, or in any amendment or
supplement thereto, or in any preliminary prospectus, any untrue or alleged untrue statement of a material fact contained therein or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make
the statements therein, in the light of the circumstances under which they were made, not misleading insofar as such Losses are solely based upon information relating to such Holder or Participating Broker-Dealer and furnished in writing to the
Company and the Subsidiary Guarantors by such Holder or Participating Broker-Dealer or their counsel expressly for use therein. Notwithstanding the foregoing, in no event shall the liability of any selling Holder be greater in amount than such
Holder’s Maximum Contribution Amount (as defined below). 

  

	 	(c)	 Conduct of Indemnification Proceedings. If any proceeding shall be brought or asserted against any Person entitled to indemnity hereunder (an
“Indemnified Party”), such Indemnified Party shall promptly notify the party or parties from which such indemnity is sought (the “Indemnifying Party” or “Indemnifying Parties,” as applicable) in
writing; 

  
 18 

	 	
but the omission to so notify the Indemnifying Party (i) will not relieve such Indemnifying Party from any liability under paragraph (a) or (b) above unless and only to the extent
it is materially prejudiced as a result thereof and (ii) will not, in any event, relieve the Indemnifying Party from any obligations to any Indemnified Party other than the indemnification obligation provided in paragraphs (a) and
(b) above. 

 The Indemnifying Party shall have the right, exercisable by giving written notice to an Indemnified Party,
within 20 Business Days after receipt of written notice from such Indemnified Party of such proceeding, to assume, at its expense, the defense of any such proceeding; provided, that an Indemnified Party shall have the right to employ separate
counsel in any such proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party or parties unless: (1) the Indemnifying Party has agreed to pay such fees and
expenses in writing; or (2) the Indemnifying Party shall have failed promptly to assume the defense of such proceeding or shall have failed to employ counsel reasonably satisfactory to such Indemnified Party; or (3) the named parties to
any such proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party or any of its affiliates or controlling persons, and such Indemnified Party shall have been advised by counsel that there may be one
or more defenses available to such Indemnified Party that are in addition to, or in conflict with, those defenses available to the Indemnifying Party or such affiliate or controlling person (in which case, if such Indemnified Party notifies the
Indemnifying Parties in writing that it elects to employ separate counsel at the expense of the Indemnifying Parties, the Indemnifying Parties shall not have the right to assume the defense and the reasonable fees and expenses of such counsel shall
be at the expense of the Indemnifying Party; it being understood, however, that, the Indemnifying Party shall not, in connection with any one such proceeding or separate but substantially similar or related proceedings in the same jurisdiction,
arising out of the same general allegations or circumstances, be liable for the fees and expenses of more than one separate firm of attorneys (together with appropriate local counsel) at any time for such Indemnified Party). 

No Indemnifying Party shall be liable for any settlement of any such proceeding effected without its written consent, which shall not be
unreasonably withheld, but if settled with its written consent, or if there be a final judgment for the plaintiff in any such proceeding, each Indemnifying Party jointly and severally agrees, subject to the exceptions and limitations set forth
above, to indemnify and hold harmless each Indemnified Party from and against any and all Losses by reason of such settlement or judgment. The Indemnifying Party shall not consent to the entry of any judgment or enter into any settlement unless such
judgment or settlement (i) includes as an unconditional term thereof the giving by the claimant or plaintiff to each Indemnified Party of a release, in form and substance reasonably satisfactory to the Indemnified Party, from all liability in
respect of such proceeding for which such Indemnified Party would be entitled to indemnification hereunder (whether or not any Indemnified Party is a party thereto) and (ii) does not include a statement as to or an admission of fault,
culpability or a failure to act by or on behalf of any Indemnified Party. 
  

	 	(d)	 Contribution. If the indemnification provided for in this Section 7 is unavailable to an Indemnified Party or is insufficient to hold such
Indemnified Party harmless for any Losses in respect of which this Section 7 would otherwise apply by its terms (other than by reason of exceptions provided in this Section 7), then each applicable Indemnifying Party, in lieu of
indemnifying such Indemnified Party, shall have a joint and several obligation to contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative fault of
the Indemnifying Party, on the one hand, and such Indemnified Party, on the other hand, in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable considerations.

  
 19 

	 	
The relative fault of such Indemnifying Party, on the one hand, and Indemnified Party, on the other hand, shall be determined by reference to, among other things, whether any untrue or alleged
untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent any such statement or omission. The amount paid or payable by an Indemnified Party as a result of any Losses shall be deemed to include any legal or other fees or expenses incurred by such party in connection with
any proceeding, to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in Section 7(a) or 7(b) was available to such party. 

The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 7(d) were determined by pro
rata allocation or by other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 7(d), a selling Holder shall not be
required to contribute, in the aggregate, any amount in excess of such Holder’s Maximum Contribution Amount. A selling Holder’s “Maximum Contribution Amount” shall equal the aggregate proceeds received by such Holder
pursuant to the sale of such Registrable Notes or Exchange Notes. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty
of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 7(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not
joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 7(d) are joint and several. 

The indemnity and contribution agreements contained in this Section 7 are in addition to any liability that the Indemnifying Parties may
have to the Indemnified Parties. 
  

	8.	Rules 144 and 144A 

  

	 	(a)	The Company covenants that it shall (a) file the reports required to be filed by it (if so required) under the Securities Act and the Exchange Act in a timely manner and, if at any time the Company is not required
to file such reports, it will, upon the written request of any Holder of Registrable Notes, make publicly available other information necessary to permit sales pursuant to Rule 144 and Rule 144A and (b) take such further action as any Holder
may reasonably request in writing, all to the extent required from time to time to enable such Holder to sell Registrable Notes without registration under the Securities Act pursuant to the exemptions provided by Rule 144 and Rule 144A.

  

	 	(b)	Availability of Rule 144 Not Excuse for Obligations under Section 2. The fact that holders of Registrable Notes may become eligible to sell such Registrable Notes pursuant to Rule 144 shall not
(1) cause such Notes to cease to be Registrable Notes or (2) excuse the Company’s and the Guarantors’ obligations set forth in Section 2 of this Agreement, including without limitation the obligations in respect of an
Exchange Offer, Shelf Registration and Additional Interest. 

  

	9.	Underwritten Registrations of Registrable Notes 

 If any of the Registrable Notes
covered by any Shelf Registration are to be sold in an underwritten offering, the investment banker or investment bankers and manager or managers that will manage the offering will be selected by the Holders of a majority in aggregate principal
amount of such Registrable Notes included in such offering; provided, however, that such investment banker or investment bankers and manager or managers must be acceptable to the Company. 

  
 20 

 No Holder of Registrable Notes may participate in any underwritten registration hereunder unless
such Holder (a) agrees to sell such Holder’s Registrable Notes on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (b) completes and executes all
questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 
  

	10.	Joinder 

 Upon execution of the Joinder by each of the Subsidiary Guarantors, each
Subsidiary Guarantor shall, on a joint and several basis, accede to the terms of this Agreement and perform all of the obligations of a Subsidiary Guarantor set forth in this Agreement, in each case, on the terms set forth in the Joinder. 

 

	11.	Miscellaneous 

  

	 	(a)	Remedies. In the event of a breach by either the Company or any of the Subsidiary Guarantors of any of their respective obligations under this Agreement, each Holder, in addition to being entitled to exercise all
rights provided herein, in the Indenture or, in the case of the Initial Purchasers, in the Purchase Agreement, or granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. The Company
and the Subsidiary Guarantors agree that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by either the Company or any of the Subsidiary Guarantors of any of the provisions of this Agreement and hereby
further agree that, in the event of any action for specific performance in respect of such breach, the Company shall (and shall cause each Subsidiary Guarantor to) waive the defense that a remedy at law would be adequate. 

 

	 	(b)	No Inconsistent Agreements. The Company and each of the Subsidiary Guarantors have not entered, as of the date hereof, and the Company and each of the Subsidiary Guarantors shall not enter, after the date of this
Agreement, into any agreement with respect to any of its securities that conflicts with the provisions hereof. The Company and each of the Subsidiary Guarantors have not entered and will not enter into any agreement with respect to any of its
securities that will grant to any Person piggy-back rights with respect to a Registration Statement. 

  

	 	(c)	Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, otherwise than with the
prior written consent of the Holders of not less than a majority in aggregate principal amount of the then outstanding Registrable Notes in circumstances that would adversely affect any Holders of Registrable Notes; provided, however,
that Section 7 and this Section 11(c) may not be amended, modified or supplemented without the prior written consent of each Holder. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a
matter that relates exclusively to the rights of Holders of Registrable Notes whose securities are being tendered pursuant to the Exchange Offer or sold pursuant to a Notes Registration Statement and that does not directly or indirectly affect,
impair, limit or compromise the rights of other Holders of Registrable Notes may be given by Holders of at least a majority in aggregate principal amount of the Registrable Notes being tendered or being sold by such Holders pursuant to such Notes
Registration Statement. 

  
 21 

	 	(d)	Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand delivery, registered first-class mail, next-day air courier or telecopier: 

 

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

 Jefferies LLC 

520 Madison Avenue 
 New York,
NY 10022 
 Attention: General Counsel, Investment Banking 
  

	 	(ii)	if to the Initial Purchasers, at the address specified in Section 11(d)(i); 

  

	 	(iii)	if to the Company or any Subsidiary Guarantor, as follows: 

 Salix Pharmaceuticals, Ltd. 

8510 Colonnade Center Drive 

Raleigh, NC 27615 

			
	Attention:	 	William Bertrand, Jr.
		 	Senior Vice President, General Counsel

 with a copy to: 

Covington & Burling LLP 

1201 Pennsylvania Avenue, N.W. 

Washington, D.C. 20004 

Attention: Kerry Shannon Burke, Esq. 

All such notices and communications shall be deemed to have been duly given: when delivered by hand, if personally delivered; five Business
Days after being deposited in the United States mail, postage prepaid, if mailed, one Business Day after being deposited in the United States mail, postage prepaid, if mailed; one Business Day after being timely delivered to a next-day air courier
guaranteeing overnight delivery; and when receipt is acknowledged by the addressee, if telecopied. 
 Copies of all such notices, demands or
other communications shall be concurrently delivered by the Person giving the same to the Trustee under the Indenture at the address specified in such Indenture. 
  

	 	(e)	Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto, including, without limitation and without the need for an express
assignment, subsequent Holders of Registrable Securities. 

  

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

  

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

  
 22 

	 	(h)	Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. THE COMPANY HEREBY IRREVOCABLY SUBMITS TO
THE JURISDICTION OF ANY NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK OR ANY FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT, AND IRREVOCABLY ACCEPTS FOR ITS AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, JURISDICTION OF THE AFORESAID COURTS. THE COMPANY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER
APPLICABLE LAW, TRIAL BY JURY AND ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH
COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. THE COMPANY IRREVOCABLY CONSENTS, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW, TO THE SERVICE OF PROCESS OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY
THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO THE COMPANY AT ITS SAID ADDRESS, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY HOLDER TO SERVE PROCESS IN
ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST THE COMPANY IN ANY OTHER JURISDICTION. 

  

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

  

	 	(j)	Securities Held by the Company or Its Affiliates. Whenever the consent or approval of Holders of a specified percentage of Securities is required hereunder, Securities held by the Company or its affiliates (as
such term is defined in Rule 405 under the Securities Act) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 

 

	 	(k)	Third Party Beneficiaries. Holders and Participating Broker-Dealers are intended third party beneficiaries of this Agreement and this Agreement may be enforced by such Persons. No other person is intended to be,
or shall be construed as, a third-party beneficiary of this Agreement. 

  
 23 

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

 [Signature Pages Follow] 

  
 24 

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

  

			
	SALIX PHARMACEUTICALS, LTD.
		
	By:	 	 /s/ Adam C. Derbyshire

	Name:	 	Adam C. Derbyshire
	Title:	 	Executive Vice President, Finance and Administration, Chief Financial Officer, Treasurer and Assistant Secretary

  
 Salix –
Registration Rights Agreement 

 Accepted and Agreed to: 
  

					
	By:	 	JEFFERIES LLC, as Authorized Representative of the Initial Purchasers
		
	By:	 	 /s/ Michael Leder

		 	Name:	 	Michael Leder
		 	Title:	 	Managing Director

  
 Salix –
Registration Rights Agreement 

 SCHEDULE I 

INITIAL PURCHASERS 

Jefferies LLC 
 Fifth Third
Securities, Inc. 
 Natixis Securities Americas LLC 

PNC Capital Markets LLC 
 RBS
Securities Inc. 
 SMBC Nikko Securities America, Inc. 

SunTrust Robinson Humphrey, Inc. 

 EXHIBIT A 

$750,000,000 
 Salix
Pharmaceuticals, Ltd. 
 6.00% Senior Notes due 2021 

[Form of Joinder to Registration Rights Agreement] 

[DATE] 
 JEFFERIES LLC 

As Representative of the 
 Initial
Purchasers 
 c/o Jefferies LLC 
 520 Madison Avenue 

New York, New York 10022 
 Ladies and Gentlemen: 

Reference is made to the Registration Rights Agreement dated as of December 27, 2013, among Salix Pharmaceuticals, Ltd. (the
“Company”) and Jefferies LLC, as representative of the Initial Purchasers. Capitalized terms used in this Joinder Agreement without definition have the respective meanings given to them in the Registration Rights Agreement. 

The undersigned Subsidiary Guarantors hereby agree, on a joint and several basis, to accede to the terms of the Registration Rights Agreement
and to undertake and perform all of the obligations of the “Subsidiary Guarantors” set forth therein as though the undersigned Subsidiary Guarantors had entered into the Registration Rights Agreement on the Closing Date and been named as
“Subsidiary Guarantors” therein. The undersigned Subsidiary Guarantors agree that such obligations include, without limitation, (a) all of the obligations of the Guarantors to perform and comply with all of the agreements thereof
contained in the Registration Rights Agreement, including the obligation to pay Additional Interest, and (b) the Subsidiary Guarantors’ indemnification and other obligations contained in Section 7 of the Registration Rights Agreement.
Each of the undersigned Subsidiary Guarantors acknowledges and agrees that all references to the Subsidiary Guarantors in the Registration Rights Agreement shall include the undersigned Subsidiary Guarantors and that the undersigned Subsidiary
Guarantors shall be bound by all provisions of the Registration Rights Agreement containing such references. 
 THIS JOINDER AGREEMENT SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. 

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

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

			
	SALIX PHARMACEUTICALS, INC.,
	as a Subsidiary Guarantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	 OCEANA THERAPEUTICS, INC.,
 as a
Subsidiary Guarantor

		
	By:	 	  

		 	Name:
		 	Title:
	
	 SANTARUS, INC.,
 as a Subsidiary
Guarantor

		
	By:	 	  

		 	Name:
		 	Title:

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