Document:

Exhibit 10.4

 

August 6, 2015

 

Offer #1/2015

 

Alejandro B. Dosoretz

Inversix S.A.

Emprendimientos Inmobiliarios de la Costa S.A.

Instituto Acevedo S.A.

Antila Forte S.A. (Costa Rica)

Inversiones Médicas Globales S.A. (El Salvador)

Croin, S.A. de C.V. (México)

 

Dear Sirs,

 

Following up on our previous conversations in connection with the lease of several properties owned by you in which certain affiliates of 21st Century Oncology, Inc. f/k/a Radiation Therapy Services, Inc. currently operate radiotherapy treatment facilities, please find attached as Annex I our proposal to enter into a master lease agreement. If accepted the master lease shall be governed by the terms and conditions set forth in Annex I hereto.

 

This offer to enter into a master lease shall be deemed accepted if you send us an acceptance letter on or before August 15, 2015, 11 am EST.

 

Kind regards,

 

 

	
 
    	
 
    
	
21ST Century Oncology, Inc.
    	
 
    
	
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Vidt Centro Médico S.R.L.
    	
 
    
	
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Instituto Médico Dean Funes   S.A.
    	
 
    
	
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Centro de Oncología y Radioterapia de Mar del Plata S.R.L.
    	
 
    
	
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Mevaterapia S.A.
    	
 
    
	
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Centro Médico Irazu S.A. (Costa   Rica)
    	
 
    
	
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Servicios y Soluciones Médicas S.A. (El Salvador)
    	
 
    
	
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Clínica de Radioterapia de Occidente, S.A. de C.V.
    	
 
    
	
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ANNEX I TO OFFER LETTER TO ENTER INTO A

 

MASTER LEASE

 

This “Master Lease” is entered into as of August 6, 2015 (the “Effective Date”) between each of the  individuals or entities identified as “Landlord” in Exhibit A-1 hereto, and each of the  entities identified as “Tenant,” in the Exhibit A-1 hereto for the following real properties and improvements thereon (collectively, the “Facilities” or the “Premises”) set forth on Exhibit A-1, each used as a radiation or oncology related medical office building (individually as so utilized, as such utilization may be changed pursuant to Section 7.1 and collectively, the “Business”).  Vidt Centro Médico S.A. and 21st Century Oncology, Inc. f/k/a Radiation Therapy Services, Inc., a Florida corporation (collectively, “Guarantor”) herein guarantee Tenant’s obligations hereunder. In consideration of the mutual covenants, conditions and agreements set forth herein, Landlord hereby leases the Premises to Tenant for the Term upon the terms and conditions provided below. Certain capitalized terms used in this Master Lease are defined on Exhibit E.

 

RECOGNITION OF MASTER LEASE;

IRREVOCABLE WAIVER OF CERTAIN RIGHTS

 

Tenant and Landlord each acknowledge and agree that the terms and conditions of this Master Lease constitute a single, indivisible lease of the entire Premises and shall, to the extent legally possible in each of the relevant jurisdictions, be uniformly applied to the Facilities and the Premises. The Minimum Rent, Additional Rent, other amounts payable hereunder and all other provisions contained herein have been negotiated and agreed upon based on the intent to lease the entirety of the Premises as a single and inseparable transaction pursuant to this Master Lease, and such Minimum Rent, Additional Rent, other amounts and other provisions would have been materially different had the parties intended to enter into separate leases for each of the Facilities or Premises. Notwithstanding the foregoing, the parties agree that they will subsequently sign an agreement under the applicable local  law that reflects the terms of this Master Lease, to be implemented at the local level, with individual landlord and tenant contracts (each a “Local Agreement”) pursuant to this Master Lease, including, without limitation, the Facilities located in Argentina (collectively, the “Argentine Facilities” and the agreement governing each lease shall be referred to as  the “Argentine Local Agreements”), and provided further that in case of conflict between the provisions of this Master Lease and the provisions of any Local Agreement, the provisions of this Master Lease shall prevail. A form of the Argentine Local Agreement is attached hereto as Exhibit C.

 

Tenant and Guarantor each acknowledge and agree that Landlord is entering into this Master Lease as an accommodation to Tenant and Guarantor. Each of the entities comprising Tenant and Guarantor, in order to induce Landlord to enter into this Master Lease, to the extent permitted by law:

 

A.                                    Agrees, acknowledges and is forever estopped from asserting to the contrary that the statements set forth in the first sentence of this Section are true, correct and complete;

 

B.                                    Agrees, acknowledges and is forever estopped from asserting to the contrary that this Master Lease is a new and de novo lease, which supersedes and replaces in its entirety any existing or prior occupancy lease between the Tenant and the Landlord or between any of the entities comprising Tenant and any of the entities comprising Landlord that may have existed prior to the Effective Date;

 

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C.                                    Agrees, acknowledges and is forever estopped from asserting to the contrary that this Master Lease is a single lease pursuant to which the collective Premises are demised to the Tenant pursuant to the terms and conditions of this Master Lease;

 

D.                                    Agrees, acknowledges and is forever estopped from asserting to the contrary that if, notwithstanding the provisions of this Section, this Master Lease were to be determined or found to be in any proceeding, action or arbitration under bankruptcy, insolvency, debtor-relief or other applicable laws to constitute multiple leases demising multiple properties, such multiple leases could not, by the debtor, trustee, or any other party, be selectively or individually assumed, rejected or assigned; and

 

E.                                      Forever knowingly waives and relinquishes any and all rights under or benefits of the provisions of the relevant jurisdiction bankruptcy laws, or any successor or replacement thereof or any analogous state law, to selectively or individually assume, reject or assign the multiple leases comprising this Master Lease following a determination or finding in the nature of that described in the foregoing Section D.

 

With respect to this Master Lease and exercise of the rights of Tenant and discharge of the duties and obligations of Tenant with respect to the Facilities and Premises occupied by Tenant, all of the undersigned entities identified as “Tenant” have heretofore or do hereby appoint Guarantor as their agent with power of attorney, coupled with an interest, to pay rent and to exercise all of the other rights of Tenant and to perform and discharge any and all duties and obligations of Tenant under this Master Lease with respect to the Facilities and Premises occupied by such undersigned entity. Any act of Guarantor as agent or attorney-in-fact for any one or more of the undersigned Tenant entities may be relied upon by Landlord as the act of such entity.

 

1.                                      Term.  The “Term” of this Master Lease is the fifteen-year period commencing on January 1, 2015 and ending on December 31, 2029, and a “Lease Year” is the twelve month period commencing on January 1 of each year of the Term.  The first Lease Year shall commence on January 1, 2015 and end on December 31, 2015.  A “Triennial Period” is the three-year period computable for purposes of Rent determination. The initial Triennial Period shall be the period commencing on January 1, 2015 and ending on December 31, 2017, and the following shall be Jan 1, 2018-Dec 31, 2020; Jan 1, 2021-Dec 31, 2023, Jan 1, 2024-Dec 31, 2026, and Jan 1, 2027-Dic 31, 2029.

 

2.                                       Rent.  During the Term, Tenant shall pay Landlord aggregate “Rent” determined as provided in this Section 2.

 

2.1                              Minimum Rent; Annual Increases.  The “Minimum Rent” for the first Lease Year is One million five hundred thousand dollars (US$1,500,000.00) annually, plus all applicable sales and use taxes, payable in advance in twelve (12) equal monthly installments.  On January 1 of each Lease Year within any given Triennial Period (including, without limitation, January 1, 2016), Minimum Rent shall be increased such that Minimum Rent for the Lease Year commencing on such first day of January shall be one hundred and one and one half percent (101.5%) of the Minimum Rent in effect during the immediately preceding Lease Year. Exhibit A-2 contains a detail of the Allocation of the Minimum Rent for the first Lease Year per Facility. The Exhibit A-2 shall be replaced tri-annually  after the adjustment of the Rent as per the provisions of Section 2.2 below, to reflect the current Rent allocable to each of the Facilities.

 

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2.2                               Rent Adjustment.  To establish a fair market Minimum Rent for the Premises during every Triennial Period, the Minimum Rent shall be reset at the beginning of each Triennial Period and expressed as an annual amount equal to the Fair Market Rent of the Premises as established pursuant to Exhibit C at least ninety (90) days prior to the commencement of the subsequent Triennial Period, provided, however, in no event shall the Minimum Rent for the Premises during the first Lease Year of such Triennial Period be (a) greater than one hundred ten percent (110%) of the Minimum Rent for the immediately preceding Lease Year or (b) lesser than ninety percent (90%) of the Minimum Rent for the immediately preceding Lease Year. Commencing  with the second (2nd) Lease Year of any given Triennial Period and continuing through the third year of such Triennial Period the “Minimum  Rent” shall be increased annually as provided in Section 2.1 and as so calculated shall be payable in monthly installments throughout the remainder of such Triennial Period.

 

2.3                               Payment Terms.  All Rent and other payments to Landlord shall be paid by wire transfers or checks in accordance with the Local Agreements and local practices.  The Minimum Rent and Additional Rent shall be paid in advance in equal monthly installments on or before the fifth (5th) Business Day of each calendar month.

 

2.4                               Absolute Net Lease.  All Rent payments shall be absolutely net to Landlord, free of any and all Taxes, Other Charges, and operating or other expenses of any kind whatsoever, all of which shall be paid by Tenant when due. Tenant shall continue to perform its obligations under this Master Lease even if Tenant claims that it has been damaged by Landlord. Thus, Tenant shall at all times remain obligated under this Master Lease without any right of setoff, counterclaim, abatement, deduction, reduction or defense of any kind. Tenant’s sole right to recover damages against Landlord under this Master Lease shall be to prove such damages in a separate action.

 

3.                                       Late Charges.  The late payment of Rent or other amounts due will cause Landlord to lose the use of such money and incur administrative and other expenses not contemplated under this Master Lease. While the exact amount of the foregoing is extremely difficult to ascertain, the parties agree that as a reasonable estimate of fair compensation to Landlord, if any Rent or other amount is not paid within (i) five (5) days after the due date for such payment, then Tenant shall thereafter pay to Landlord on demand a late charge equal to three percent (3%) of such delinquent amounts, and (ii) ten (10) days after the due date for such payment, such unpaid amount shall accrue interest from such date at the “Agreed Rate” of five percent (5%) plus the prime rate of interest as published in the Wall Street Journal on the eleventh (11th) day after the due date for such payment.

 

4.                                       Intentionally Omitted.

 

5.                                       Taxes and Other Charges.  At the end of the Term, all Taxes and Other Charges shall be prorated. If Tenant has prepaid any Taxes or Other Charges for periods extending beyond the end of the Term, Landlord shall, within forty-five (45) days of the expiration of the Term, reimburse Tenant for such Taxes and Other Charges, which obligation shall survive the expiration or earlier termination of this Master Lease. Landlord shall promptly forward to Tenant copies of all bills and payment receipts for Taxes or Other Charges received by it. At the end of the Term, Subject to Section 5.1, Tenant shall pay and discharge (including the filing of all required returns), prior to delinquency or imposition of any fine, penalty, interest or other cost (“Penalty”) the following: (i) “Taxes”, consisting of any property (real and

 

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personal) and other taxes and assessments levied or assessed with respect to this Master Lease or any portion of the Premises, including, without limitation, any national, state, provincial, municipal, or county occupation tax, transaction privilege, franchise taxes, business privilege, rental tax or other excise taxes, and other assessments levied or assessed against the Premises, Tenant’s interest therein or Landlord (with respect to this Master Lease and/or the Premises, but excluding any local, provincial, state or national income tax based upon the net income or excess profits of Landlord, any capital gains tax imposed on Landlord in connection with the sale of all or any portion of the Premises to any Person and any transfer tax or stamps for Landlord’s transfer of any interest in any portion of the Premises to any Person other than Tenant or any of its Affiliates), which shall be borne by Landlord, and (ii) “Other Charges”, consisting of any utilities, common area maintenance, and other costs and expenses of the Business and operation, possession or use of any portion of the Premises and all other charges, obligations or deposits assessed against any portion of the Premises during the Term. Tenant may pay all of any portion of the Taxes or the Other Charges in permitted installments (whether or not interest accrues on the unpaid balance) when due and before any Penalty. Tenant will furnish to Landlord, promptly after demand therefore, proof of payment of Taxes and Other Charges which are paid by Tenant.

 

5.1                              Protests.  Each party has the right, but not the obligation, in good faith to protest or contest (a “Protest”) in whole or in part (i) the amount or payment of any Taxes or Other Charges and (ii) the existence, amount or validity of any Lien (as defined in Section 8.1) by appropriate proceedings sufficient to prevent its collection or other realization and the sale, forfeiture or loss of any portion of the Premises or Rent to satisfy it (so long as, in the case of any Protest or contest by Tenant, Tenant provides Landlord with reasonable security to assure the foregoing, which security may take the form of a title indemnity (in a form reasonably acceptable to Landlord and from a reputable title insurance company reasonably acceptable to Landlord) or payment of the amount due the lien claimant), provided that if as a result of any Protest initiated by Landlord, such Taxes, Other Charges or the amount of any Lien increases above the protested amount, such increase shall be borne exclusively by Landlord. Each party shall diligently prosecute any such Protest initiated by it at its sole cost and expense. In connection with any Protest that Tenant is diligently pursuing regarding Taxes, Tenant shall pay the Taxes that are the subject of such Protest before the imposition of any Penalty. In connection with any Protest that Tenant is diligently pursuing regarding any Other Charges or Liens, Tenant shall pay such Other Charges or pay such Liens (or otherwise cause them to be removed) before any part of the Premises or any Rent therefrom or interest therein is in any danger of being sold, forfeited, attached or lost. At Tenant’s sole cost and expense, Landlord will cooperate fully in any Protest that involves an amount assessed against it and, at Tenant’s request, in the case of any Protest in which Tenant is prohibited from solely prosecuting such proceedings by applicable law.

 

6.                                     Insurance. All insurance provided for in this Master Lease shall (i) be maintained under valid and enforceable policies issued by the local Affiliate of excellent international (or local in case of lack thereof) reputation insurers, licensed and approved to do business in the countries and other relevant jurisdictions where the applicable Facility or portion of the Premises is located, (ii) except for insurance referenced in Section 6(c), Section 6(d) and Section 6(e), name Landlord (and, if required, pursuant to the terms of any mortgage encumbering the Premises, or any part hereof, Landlord’s mortgagee) as an additional insured and, for the casualty policy referenced in Section 6(a), as the owner and loss payable beneficiary, (iii) be on an “occurrence” basis, (iv) cover all of Tenant’s operations at the applicable Facility or portion of the Premises, (v) provide that the policy may not be canceled except upon not less than thirty (30) days prior written notice to Landlord and (vi) be primary and provide that any insurance with respect to any portion of the Premises maintained by Landlord is excess and

 

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noncontributing with Tenant’s insurance. The parties hereby waive as to each other all rights of subrogation  which any insurance carrier, or either of them, may have by reason of any provision in any policy issued to them, provided such waiver does not thereby invalidate such policy. Original policies or satisfactory insurer certificates evidencing the existence of the insurance required by this Master Lease and showing the interest of Landlord shall be provided to it at any time upon Landlord ́s request but in any case, for a renewal policy, not less than five (5) days prior to the expiration date of the policy being renewed. If Landlord is provided with a certificate, it may demand that Tenant provide a complete copy of the related policy within fifteen (15) days. Tenant may satisfy the insurance requirements hereunder through coverage under a so-called blanket policy or policies of insurance carried and maintained by Tenant; provided, however, that the coverage afforded Landlord will not be reduced or diminished or otherwise be different from that which would exist under a separate policy meeting all other requirements of this Master Lease by reason of the use of such blanket policy of insurance. Exhibit I hereto is a list of policies, coverages, and maturities of existing policies. Unless otherwise agreed upon in any Local Agreement, before December 31, 2015 and during the Term, each Tenant shall purchase and maintain the  insurance (per Tenant and not per Facility) detailed below in the amounts set forth in the column “Coverage Amount (USD)” of the Exhibit J hereto. In case of a devaluation of the non-US currencies leading to a fall in the USD-denominated policies, prior to the Landlord declaring a default under this Master Lease or any of the local agreements, Landlord shall provide written notice of the devaluation and at the time of renewal of the relevant policies the parties shall negotiate in good faith a readjustment of the coverage amount. In case of failure to reach an agreement, the Parties shall appoint one out of Marsh, McLennan, AON or Willis to assess a reasonable and adequate level of coverage for the relevant Facilities. For the avoidance of doubt, the Tenant shall not be in default of this Master Lease until an agreement on the readjustment of the coverage amount is reached. Further, the insurance to be purchased on any Facility that is used for residential purposes will be reasonable and adequate insurance in line with local applicable standards.

 

(a)                                 Fire and Extended Coverage with respect to each Facility against loss or damage from all causes under standard “all risk” property insurance coverage with an agreed amount endorsement (such that the insurance carrier has accepted the amount of coverage and has agreed that there will be no co-insurance penalty), without exclusion for fire, lightning, windstorm, explosion, smoke damage, vehicle damage, sprinkler leakage, flood, vandalism, earthquake, malicious mischief or any other risks normally covered under an extended coverage endorsement, in amounts that are not less than the actual replacement value of such Facility and all Tenant Personal Property associated therewith (including the cost of compliance with changes in zoning and building codes and other laws and regulations, demolition and debris removal and increased cost of construction). Additionally, if any Facility contains steam boilers, steam pipes, steam engines, steam turbines or other high pressure vessels, insurance with an agreed amount endorsement (such that the insurance carrier has accepted the amount of coverage and has agreed that there will be no co-insurance penalty), covering the major components of the central heating, air conditioning and ventilating systems, boilers, other pressure vessels, high pressure piping and machinery, elevators and escalators, if any, and other similar equipment installed in the Facility, in an amount equal to one hundred percent (100%) of the full replacement cost of the Facility, which policies shall insure against physical damage to and loss of occupancy and use of the Facility arising out of an accident or breakdown covered thereunder.;

 

(b)                                 Commercial General Public Liability Coverage with respect to each Facility (including products liability and broad form coverage) against claims for bodily injury, death or property damage occurring on, in or about such Facility;

 

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(c)                                  Professional Liability Coverage with respect to each Facility for damages for injury, death, loss of service or otherwise on account of professional services rendered or which should have been rendered;

 

(d)                                 Worker’s Compensation Coverage, or similar coverage in the relevant jurisdiction, with respect to each Facility for injuries sustained by Tenant’s employees in the course of their employment and otherwise consistent with all applicable legal requirements; and

 

(e)                                  Business Interruption and Extra Expense Coverage, where available, with respect to each Facility for loss of rental value for a period not less than one (1) year, covering perils consistent with the requirements of Section 6(a) and providing that any covered loss thereunder shall be payable to the Landlord as its interests may appear, and (A) including either an agreed amount endorsement or a waiver of any co-insurance provisions, so as to prevent Tenant, Landlord and any other insured thereunder from being a co-insurer, or (B) if such insurance contains a coinsurance provision, with a limit greater than or equal to ten (10) times the amount of annual Minimum Rent and Additional Rent then payable under this Master Lease.

 

7.                                       Use, Regulatory Compliance and Preservation of Business.

 

7.1                              Permitted Use.

 

Tenant shall use, operate and occupy each Facility as a radiation or oncology related medical office building and treatment center, and for ancillary services relating thereto, but for no other purpose; provided, however, that Tenant may, with the written approval of Landlord (subject to the succeeding sentence, to be granted or withheld in the exercise of its sole and absolute discretion) change the use of a Facility to a different use so long as Tenant shall continue to use, operate and occupy such Facility for a use in the medical services industry. Landlord, upon the written request of Tenant, shall approve a change in the use of a Facility if the following conditions are met: (i) the proposed change in use is for a use in the medical services industry, and (ii) Tenant has obtained or agrees to obtain prior to such change in use all licenses, certificates, permits and all other approvals required by law in connection with operating the Facility for the proposed new use. Tenant shall operate each Facility and the Business conducted thereon in a manner consistent with all applicable laws.

 

7.2                               Regulatory Compliance.  Tenant, each Facility and the other portions of the Premises shall be subject to all CC&R’s promulgated by, or for the benefit of, condominium or other such associations or entities, as the same may be amended from time to time and Tenant, each Facility and the other portions of the Premises shall comply in all material respects with all of such CC&R’s, as well as all licensing and other laws and other use or maintenance requirements applicable to the Business conducted thereon and, to the extent applicable, all Instituto Nacional de Servicios Sociales para Jubilados and Pensionados  (“PAMI”) and other third-party payor certification requirements, including timely filing properly completed cost and other required reports, timely paying all expenses shown thereon, and ensuring that each Facility, to the extent required in connection with the then permitted use pursuant to Section 7.1, continues to be fully certified for participation in PAMI throughout the Term. Further, Tenant shall not commit any act or omission that would in any way violate any certificate of occupancy affecting any Facility. All inspection fees, costs and charges associated with a change of such licensure or certification shall be borne solely by Tenant.

 

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7.3                               Quiet Enjoyment.  So long as no Event of Default has occurred and is continuing, Landlord covenants that Tenant may peaceably and quietly have, hold and enjoy the Premises for the Term, free of any claim or other action not caused or created by Tenant, subject to Section 17 or Section 18.

 

8.                                       Acceptance, Maintenance, Upgrade, Alteration and Environmental.

 

8.1                               Acceptance “AS IS”; No Liens.  Tenant acknowledges that it or an Affiliate has been in possession of and operating the Premises prior to the date of this Master Lease and is presently engaged in operations like the Business conducted at each Facility in the jurisdiction where such Facility is located and has expertise in such industry and, in deciding to enter into this Master Lease, has not relied on any representations or warranties, express or implied, of any kind from Landlord with respect to the Premises. Tenant has examined the condition of title to and thoroughly investigated the Premises, has selected the Premises to its own specifications, has concluded that, as of the date hereof, no improvements or modifications are required to be made by Landlord in order to conduct the Business thereon, and accepts them on an “AS IS” basis and assumes all responsibility and cost for the correction of any observed or unobserved deficiencies or violations. It is expressly understood and agreed that any inspection by or on behalf of the Landlord of the business conducted at the Premises or of the Premises is for Landlord’s sole and exclusive benefit and is not directly or indirectly for the benefit of, nor should be relied in any manner upon by, Tenant, its subtenants or any other third party. Subject to its right to Protest set forth in Section 5.1, Tenant shall not cause or permit any lien, levy or attachment to be placed or assessed against any portion of the Premises or the operation thereof (a “Lien”) other than “Permitted Exceptions” as described on Exhibit D and any mortgage, lien, encumbrance, or other charge created by or resulting solely from any act or omission of Landlord.

 

8.2                                Tenant’s Maintenance Obligations.  Tenant shall (i) keep and maintain the Premises in good appearance, repair and condition and maintain proper janitorial services, (ii) promptly make all repairs (interior and exterior, structural and nonstructural, ordinary and extraordinary, foreseen and unforeseen) necessary to keep each Facility in good and lawful order and condition and in substantial compliance with all applicable requirements and laws relating to the business conducted thereon, including, if applicable certification for participation in PAMI, and (iii) keep and maintain all Landlord and Tenant Personal Property in good condition, ordinary wear and tear, casualty and condemnation excepted, and repair and replace such property consistent with prudent industry practice.

 

8.3                                Upgrade Expenditures.  Unless otherwise agreed upon in any  Local Agreement, on or before the date that is thirty (30) days after the expiration of each Lease Year, Tenant shall provide to Landlord documentation and other evidence demonstrating to Landlord’s reasonable satisfaction that Tenant has, during the preceding Lease Year, for all the Facilities in total (and not necessarily individually) expended an amount equal to or exceeding the CapEx Amount, multiplied by the aggregate rentable square footage of the Facilities on the last day of the preceding Lease Year, for Upgrade Expenditures relating to the Premises.  As used herein the “CapEx Amount” shall mean an amount equal to One Dollar ($1.00) (as adjusted at the end of each Lease Year for increases since the Effective Date in the CPI).  “Upgrade Expenditures” means expenditures in commercially reasonable amounts to Persons not affiliated with Tenant for (i) upgrades or improvements to each Facility that have the effect of maintaining or improving such Facility, including new or replacement wallpaper, tiles, window coverings, lighting fixtures, painting, upgraded landscaping, carpeting, architectural adornments, common area amenities and the like, including, without limitation, capital improvements or repairs (including repairs or replacements of the roof,

 

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structural elements of the walls, parking area or the electrical, plumbing, HVAC or other mechanical or structural systems), and (ii) other improvements to each Facility as reasonably approved by Landlord, which shall include those matters, if any, that Landlord has approved in writing as of the Effective Date based on descriptions and budgets that Tenant has provided prior thereto.  If Tenant expends an amount in any Lease Year that exceeds the CapEx Amount for that Lease Year (the “CapEx Surplus”), the CapEx Amount required for the immediately following Lease Year will be reduced by the CapEx Surplus for the preceding Lease Year.

 

8.4                               Intentionally Blank

 

8.5                               Alterations by Tenant.  Tenant may alter, improve, exchange, replace, modify or expand (collectively, “Alterations”) the Premises from time to time as it may determine is desirable for the continuing and proper use and maintenance of the Premises; provided, that any Alterations in excess of Fifty Thousand Dollars ($50,000.00) with respect to any individual Facility in any rolling twelve (12) month period shall require Landlord’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed.  All Alterations shall immediately become a part of the Premises and the property of Landlord subject to this Master Lease, and the cost of all Alterations or other purchases, whether undertaken as an on-going licensing  or other regulatory requirement, or otherwise shall be borne solely by Tenant. All Alterations shall be done in a good and workmanlike manner in compliance in all material respects with all applicable laws and the insurance required under this Master Lease. If an Alteration changes the rentable square footage of a Facility, Tenant shall promptly provide Landlord notice of the same and upon delivery of such notice, Schedule I shall be deemed amended to reflect such revised rentable square footage for the applicable Facility.

 

8.6                               Hazardous Materials.  Tenant’s use of the Premises shall comply in all material respects with all Hazardous Materials Laws. If any Environmental Activities occur or are suspected to have occurred in material violation of any Hazardous Materials Laws or if Tenant has received written notice of any Hazardous Materials Claim against any portion of the Premises, Tenant shall promptly remedy any such violation or claim to the reasonable satisfaction of Landlord and in accordance in all material respects with all applicable governmental authorities, as required by Hazardous Materials Laws. Tenant and Landlord shall promptly advise one another in writing upon receiving written notice of (a) any Environmental Activities in material violation of any Hazardous Materials Laws; (b) any Hazardous Materials Claims against Tenant or Landlord in connection with the Premises (or any portion of the Premises); (c) any remedial action taken by Tenant or Landlord in response to any Hazardous Materials Claims or any Hazardous Materials on, under or about any portion of the Premises in material violation of any Hazardous Materials Laws; (d) any occurrence or condition on or in the vicinity of any portion of the Premises of which Tenant or Landlord, as applicable, has actual knowledge and that materially increases the risk that any portion of the Premises will be exposed to Hazardous Materials; and (e) all material communications to or from Tenant, any governmental authority or any other Person relating to Hazardous Materials Laws or Hazardous Materials Claims with respect to any portion of the Premises, including copies thereof. Notwithstanding any other provision of this Master Lease, if any Hazardous Materials are discovered on or under any portion of a Facility in violation of any Hazardous Materials Law, the Term shall be automatically extended with respect to such Facility only and this Master Lease shall remain in full force and effect with respect to such Facility only until the earlier to occur of (i) the completion of all remedial action or monitoring, as reasonably approved by Landlord, in accordance with all Hazardous Materials Laws, or (ii) the date specified in a written notice from Landlord to Tenant terminating this Master Lease (which date may be subsequent to the date upon which the Term was to have expired).

 

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Notwithstanding the foregoing, in no event shall the provisions of this Section 8.5 extend the Term for a Facility beyond December 31, 2029 as to such Facility; provided, however, that Tenant’s obligations to complete all remedial action or monitoring pursuant to this Section 8.5 shall survive any such termination of the Term. Landlord shall have the right, at Tenant’s sole cost and expense (including, without limitation, Landlord’s reasonable attorneys’ fees and costs) and with counsel chosen by Landlord, to join and participate in, as a party if it so elects, any legal proceedings or actions initiated in connection with any Hazardous Materials Claims.

 

8.7                               Medical Waste.  Tenant shall be responsible for all Medical Waste disposal for each Facility, which disposal shall be provided by a licensed medical waste hauler and shall comply in all material respects with all applicable laws, rules, regulations and orders. If Tenant elects to provide Medical Waste disposal services to the subtenants in a Facility, such services shall be provided in compliance in all material respects with all applicable laws, rules, regulations and orders.

 

8.8                               Tenant Repairs.

 

(a)                                 Tenant hereby agrees that on or before the date that is one hundred and eighty days (180) days after the date of this Master Lease (the “Immediate Repairs Outside Date”), Tenant shall, at its sole cost and expense, complete those repairs and replacements identified as “Immediate Repairs” and further described on Exhibit H attached hereto and incorporated herein by reference. On or before the Immediately Repairs Outside Date, Tenant shall provide Landlord with sufficient documentation reasonably acceptable to Landlord evidencing that the Immediate Repairs have been completed in accordance with the provisions of this Section 8.7. All Immediate Repairs shall be done in a good and workmanlike manner in compliance in all material respects with all applicable laws and the insurance required under this Master Lease.

 

(b)                                 Tenant hereby agrees that on or before the date that is twelve (12) months (except to the extent additional time is permitted as set forth on Exhibit H) after the date of this Master Lease (the “Short-Term Repairs Outside Date”), Tenant shall, at its sole cost and expense, complete those repairs and replacements identified as “Short-Term Repairs” and further described on Exhibit H attached hereto and incorporated herein by reference. On or before the Short-Term Repairs Outside Date (or, such later date as indicated with respect to those Short-Term Repairs for which additional time is given pursuant to Exhibit H), Tenant shall provide Landlord, with sufficient documentation reasonably acceptable to Landlord evidencing that the Short-Term Repairs have been completed in accordance with the provisions of this Section 8.7. All Short-Term Repairs shall be done in a good and workmanlike manner in compliance in all material respects with all applicable laws and the insurance required under this Master Lease.

 

9.                                       Tenant Property.

 

9.1                              Tenant Property.  Tenant may obtain and install all items of furniture, fixtures, trade fixtures, supplies and equipment as Tenant determines are reasonably necessary or reasonably appropriate to operate the Premises (“Tenant Personal Property”). As used herein, “Tenant Intangible Property” means all the following at any time owned by Tenant in connection with its use of any portion of the Premises: any and all accounts and proceeds thereof; rents, profits, income or revenue derived from such operation or use; all documents, chattel paper, instruments, contract rights (including all leases with subtenants and contracts with employees and third parties), deposit accounts, general intangibles and choses in action; refunds of any Taxes or Other Charges; if applicable, licenses and permits necessary or desirable for Tenant’s use of any portion of the Premises, any applicable certificate of need, occupancy or

 

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other similar certificate, and the exclusive right to transfer, move or apply for the foregoing and manage the business conducted at any portion of the Premises; and the right to use the names set forth on Schedule I and any other trade or other name now or hereafter associated with its operation of the Premises.

 

9.2                               Schedule of Tenant Property.  Upon the acceptance  of this Master Lease by Tenant, Tenant shall deliver to Landlord a schedule of all lenders, purchase money equipment financiers, equipment lessors, and other parties who, other than Tenant, have any liens, security interests, ownership interests, or other similar interests in and to any Tenant Personal Property with a value of or exceeding Fifty Thousand Dollars ($50,000.00) (the “Tenant Property Schedule”). The Tenant Property Schedule shall be in a form reasonably acceptable to Landlord and shall include: (i) the name, address, and other contact information for the agent or lead bank (“Agent Bank”) in connection with any Tenant’s senior credit facility, and (ii) a detailed breakdown, by Facility, of each applicable item of Tenant Personal Property, its age, useful economic life, and estimated value, and any lenders, purchase money equipment financiers, equipment lessors, or other parties who have a lien, security interest, ownership interest, or other similar ownership interest in such item and the contact information for any and all such parties. Tenant shall be required to deliver to Landlord an updated Tenant Property Schedule upon request, but no more frequently than the commencement of each Lease Year.

 

9.3                               Waiver of Landlord’s Lien.  Landlord hereby waives any statutory or common law lien that may be granted or deemed to be granted to Landlord in Tenant Personal Property or Tenant Intangible Property. Landlord agrees that, upon the request of any Person that shall be providing senior secured financing to Tenant, or a purchase money equipment financier or equipment lessor of Tenant, Landlord shall, at Tenant’s sole cost and expense, negotiate in good faith for the purpose of executing and delivering a commercially reasonable waiver or subordination of Landlord’s statutory lien rights, if any, and a consent and agreement with respect to the respective rights of Landlord and such Person regarding the security interests in, and the timing and removal of, any Tenant Personal Property or Tenant Intangible Property which such Person has a secured interest (the “Collateral”), in form and substance reasonably acceptable to Landlord and such Person, so long as such waiver and agreement (i) provides for the indemnification of Landlord against any claims by Tenant or any Person claiming through Tenant, and against any physical damage caused to the Premises, in connection with the removal of any of the Collateral by such Person, (ii) provides for a reasonable, but limited, time frame for the removal of such Collateral by such Person after the expiration of which same shall be deemed abandoned, and (iii) provides for the per diem payment of Rent due hereunder by such Person for each day following the date of the expiration or termination of this Master Lease that Landlord permits such Person’s Collateral to remain in the Premises.

 

10.                                Financial, Management and Regulatory Reports.  Tenant shall provide Landlord with the reports listed in Exhibit F at the time described therein, and such other information about it or the operations of the Premises and the Business as Landlord may reasonably request from time to time, including such information reasonably requested in connection with a financing of the Premises sought by Landlord. All financial information provided shall be prepared in accordance with generally accepted accounting principles consistently applied and shall be submitted electronically in the form of unrestricted, unlocked “.xls” spreadsheets (or, if restricted or locked, Landlord has been provided with all necessary passwords and access keys required to fully access or extract the subject data therefrom) created using Microsoft Excel (2003 or newer editions). In the event Tenant fails to provide Landlord with the reports listed in Exhibit F within the time periods specified therein, Tenant shall have a grace period of five (5) Business Days after receipt of written notice of such failure from Landlord to provide such reports, after

 

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which Tenant will be assessed with a five-hundred Dollar ($500.00) administrative fee, which administrative fee shall be immediately due and payable to Landlord.

 

11.                                Representations and Warranties.  Each party represents and warrants to the other that: (i) this Master Lease and all other documents executed or to be executed by it in connection herewith have been duly authorized and shall be binding upon it; (ii) it is duly organized, validly existing and in good standing under the laws of the jurisdictions of its formation and is duly authorized and qualified to perform this Master Lease within the countries where any portion of the Premises is located; and (iii) neither this Master Lease nor any other document executed or to be executed in connection herewith violates the terms of any other agreement of such party.

 

12.                                Events of Default.  The occurrence of any of the following events will constitute an “Event of Default” on the part of Tenant, and there shall be no cure period therefor except as otherwise expressly provided:

 

(a)                                 Tenant’s failure to pay any Rent when due within two (2) Business Days after receipt of written notice from Landlord of such failure, provided that the Argentine Local Agreements shall provide for automatic delinquency without need of any notice from Landlord;

 

(b)                                 Tenant’s failure to pay when due Taxes, any Other Charges or other payments required to be made by Tenant under this Master Lease, which failure continues for ten (10) days after receipt of written notice from Landlord of such failure;

 

(c)                                  (i) The suspension or material limitation of any license, or, if applicable, the certification of any portion of the Premises for provider status  which would have a material adverse effect on the operation of any Facility for the then permitted use pursuant to Section 7.1; provided, however, if any such suspension or material limitation is curable by Tenant it shall not constitute an Event of Default if Tenant promptly commences to cure such breach and thereafter diligently pursues such cure to the completion thereof within the lesser of (x) the time period in which the applicable governmental agency has given Tenant to undertake corrective action or (y) sixty (60) days after the occurrence of any such suspension or material limitation; (ii)  the revocation of any license or, if applicable, the certification of any portion of the Premises for provider status  which would have a material adverse effect on the operation of any Facility for the then permitted use pursuant to Section 7.1(a); (iii) the discontinuance of operations at any Facility, except as may be permitted pursuant to Section 7.1 or Section 24.5; (iv) the failure to maintain any certificate of need or other similar certificate or license required to operate any Facility for the then permitted use in accordance with the provisions of Section 7.1, which failure would have a material adverse effect on the operation of any Facility; or (v) the use of any material portion of the Premises other than as permitted pursuant to Section 7.1;

 

(d)                                 A default beyond any applicable cure period by Tenant (i) with respect to any obligation in excess of three hundred thousand Dollars ($300,000.00) under any other lease, agreement or obligation between Tenant and Landlord or any of Landlord’s Affiliates, or (ii) in any payment of principal or interest on any obligations of borrowed money to third parties having an aggregate principal balance of Fifty Million dollars ($50,000,000.00) or more in the aggregate, or in the performance of any other provision contained in any instrument under which any such obligation is created or secured (including the breach of any covenant thereunder), (x) if such payment is a payment at maturity or a final payment, or (y)

 

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if an effect of such default is to cause, or permit any Person to cause, such obligation to become due prior to its stated maturity;

 

(e)                                  A default beyond any applicable cure period by any Guarantor under the guaranty set forth in Section 25;

 

(f)                                   Any material misrepresentation by Tenant under this Master Lease or in any written report, notice or communication made pursuant hereto from Tenant to Landlord with respect to Tenant, any Guarantor, or the Premises;

 

(g)                                 The failure to perform or comply with the provisions of Section 6 or Section 16;

 

(h)                                 (i) Tenant shall generally not pay its debts as they become due, or shall admit in writing its inability to pay its debts generally, or shall make an assignment of all or substantially all of its property for the benefit of creditors; or (ii) a receiver, trustee or liquidator shall be appointed for Tenant or any Facility if such appointment is not discharged within sixty (60) days after the date of such appointment; (iii) the filing by Tenant of a voluntary petition under any national bankruptcy or state law to be adjudicated as bankrupt or for any arrangement or other debtor’s relief; or (iv) the involuntary filing of such a petition against Tenant by any other party unless such petition is dismissed within ninety (90) days after filing; or

 

(i)                                    The failure to perform or comply with any other provision of this Master Lease not requiring the payment of money unless Tenant cures it either (i) within thirty (30) days after receipt of written notice from Landlord of such failure or (ii) if such default cannot with due diligence be so cured because of the nature of the default or delays beyond the control of Tenant and cure after such period will not have a materially adverse effect upon any Facility, then such default shall not constitute an Event of Default if Tenant uses its best efforts to cure such default by promptly commencing and diligently pursuing such cure to the completion thereof and cures it within one hundred eighty (180) days after such notice from Landlord.

 

(j)                                    The termination of any Local Lease Agreement for cause attributable to Tenant.

 

13.                                Remedies.  Upon the occurrence and during the continuance of an Event of Default, Landlord may exercise all rights and remedies under this Master Lease and the laws of the country(s) where the Premises are located that are available to a lessor of real and personal property in the event of a default by its lessee. Landlord shall have no duty to mitigate damages unless required by applicable law and shall not be responsible or liable for any failure to relet any of the Premises or to collect any rent due upon any such reletting. Tenant shall pay Landlord, immediately upon demand, all expenses incurred by it in obtaining possession and reletting any of the Premises, including reasonable fees, commissions and costs of attorneys, architects, agents and brokers.

 

13.1                        General.  Without limiting the foregoing, Landlord shall have the right (but not the obligation) to do any of the following upon and during the continuance of an Event of Default: (a) sue for the specific performance of any covenant of Tenant as to which it is in breach; (b) enter upon any portion of the Premises, terminate this Master Lease or the relevant individual lease agreement, dispossess Tenant from the Premises, by any available legal process, and/or collect money damages by reason of Tenant’s breach, including the acceleration of (i) all Minimum Rent and Additional Rent (computing the

 

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then applicable Rent through the end of the Term) which would have accrued after such termination, discounted at an annual rate equal to the then-current U.S. Treasury Note rate for the closest comparable term and taking into account any obligation on behalf of Landlord to mitigate its damages to the extent required by law, and (ii) all obligations and liabilities of Tenant under this Master Lease which survive the termination of the Term; (c) elect to leave this Master Lease in place and sue for Rent and other money damages as the same come due; and (d) (before or after repossession of the Premises pursuant to clause (b) above and whether or not this Master Lease has been terminated) relet any portion of the Premises to such tenant(s), for such term(s) (which may be greater or less than the remaining balance of the Term), rent, conditions (which may include concessions or free rent) and uses as it may determine in its sole discretion and collect and receive any rents payable by reason of such reletting.

 

13.2                        Remedies Cumulative; No Waiver.  No right or remedy herein conferred upon or reserved to Landlord is intended to be exclusive of any other right or remedy, and each and every right and remedy shall be cumulative and in addition to any other right or remedy given hereunder or now or hereafter existing at law or in equity. Any notice or cure period provided herein shall run concurrently with any provided by applicable law. No failure of Landlord to insist at any time upon the strict performance of any provision of this Master Lease or to exercise any option, right, power or remedy contained herein shall be construed as a waiver, modification or relinquishment thereof as to any similar or different breach (future or otherwise) by Tenant. Landlord’s receipt of any rent or other sum due hereunder (including any late charge) with knowledge of any breach shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Master Lease shall be effective unless expressed in a writing signed by it.

 

13.3                        Performance of Tenant’s Obligations.  If Tenant at any time shall fail to make any payment or perform any act on its part required to be made or performed under this Master Lease, then Landlord may, without waiving or releasing Tenant from any obligations or default hereunder, make such payment or perform such act for the account and at the expense of Tenant, and enter upon any portion of the Premises for the purpose of taking all such action as may be reasonably necessary. No such entry shall be deemed an eviction of Tenant. All sums so paid by Landlord and all necessary and incidental costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with the performance of any such act by it, together with interest at the Agreed Rate from the date of the making of such payment or the incurring of such costs and expenses, shall be payable by Tenant to Landlord upon Landlord’s written demand therefor.

 

13.4                        Limited Remedy Event of Defaults.  Notwithstanding anything to the contrary herein contained, or any other provisions of this Master Lease or any other Local Agreement, if Landlord is exercising remedies due solely to the Events of Default described in clauses (c), (d), (e), (f) or (i) of Section 12 (“Limited Remedy Events of Default”), the aggregate amount Tenant shall be required to pay to Landlord from and after the date of the occurrence of such Limited Remedy Event of Default (the “Occurrence Date”) shall be limited to the sum of (i) (A) 89.9% of the fair market value of the Premises as of the commencement date less (B) the sum of the present value as of the Effective Date (using an annual discount rate equal to Fifteen and 65/100 percent (15.65%)) of all Minimum Rent and Additional Rent received as of the Occurrence Date, (ii) any amounts of Taxes and Other Charges which are due and payable or have accrued under this Master Lease through the Occurrence Date, and (iii) any amounts of Taxes and Other Charges which are due and payable or have accrued under this Master Lease after the Occurrence Date while or so long as the Tenant remains in possession of the Premises after any Limited Remedy Event of Default that relates to insurance, utilities, repairs, maintenance, environmental

 

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maintenance, remediation and compliance and other customary costs and expenses of operating and maintaining the Premises in substantial compliance with the terms of this Master Lease.

 

14.                                                                                 Provisions on Termination.

 

14.1                       Surrender of Possession.  On the expiration of the Term or earlier termination or cancellation of this Master Lease (the “Termination Date”), Tenant shall deliver to Landlord or its designee possession of (a) the Premises (or portion thereof if the expiration, termination, or cancellation of this Master Lease is not with respect to the entire Premises) in broom clean condition and in as good a condition as existed at the date of their possession and occupancy pursuant to this Master Lease, except as repaired, replaced, rebuilt, restored, altered or added to as permitted or required by the provisions of this Master Lease, ordinary wear and tear, casualty and condemnation excepted, (b) all subtenant leases and security deposits, all documentation related to the subtenants (including financials and past correspondence) and copies of all Tenant’s books and records relating solely to the Premises, and (c) plans, specifications, drawings or similar materials in connection with the applicable Facility or Facilities.

 

14.2                       Removal of Tenant Personal Property.   Tenant may remove from the Premises in a workmanlike manner all Tenant Personal Property, leaving the Premises in good and presentable condition and appearance, including repair of any damage caused by such removal. Title to any Tenant Personal Property which is not removed by Tenant as permitted above upon the expiration of the Term shall, at Landlord’s election, vest in Landlord; provided, however, that Landlord may remove and store or dispose at Tenant’s expense any or all of such Tenant Personal Property which is not so removed by Tenant without obligation or accounting to Tenant.

 

14.3                       Holding Over.  If Tenant shall for any reason remain in possession of any portion of the Premises after the Termination Date, such possession shall be a month-to-month tenancy during which time Tenant shall pay as rental on the first (1st) Business Day of each month one and one-half (1-1/2) times the total of the monthly Minimum Rent payable with respect to the last Lease Year plus Additional Rent allocable to the month, all additional charges accruing during the month and all other sums, if any, payable by Tenant pursuant to this Master Lease. Nothing contained herein shall constitute the consent, express or implied, of Landlord to the holding over of Tenant after the Termination Date, nor shall anything contained herein be deemed to limit Landlord’s remedies.

 

14.4                       Survival.  All covenants, indemnities and other obligations of Tenant under this Master Lease which arise on or prior to the Termination Date or which specifically survive the expiration or termination by their own terms shall survive the Termination Date.

 

15.                               Certain Landlord Rights.

 

15.1                         Entry and Examination of Records.  Landlord and its representatives may enter any portion of the Premises at any reasonable time upon not less than twenty-four (24) hours written notice to Tenant (which notice may be transmitted in the form of electronic mail or other similar electronic means) to inspect the Premises for compliance with this Master Lease, to exhibit the Premises for sale, lease or mortgaging, or for any other reasonable purpose; provided that no such notice shall be required in the event of an emergency, upon and during the continuance of an Event of Default or to post notices of non-responsibility under any mechanic’s or materialmen’s lien law or any similar legislations. No such entry shall unreasonably interfere with Tenant or any subtenants in a Facility or the business operated thereon. During normal business hours (and upon reasonable notice), Tenant will permit Landlord and its

 

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representatives (coordinated through Landlord) to examine and make abstracts from any of Tenant’s books and records (other than materials protected by the attorney-client privilege and materials which such person may not disclose without violation of a confidentiality obligation binding upon it); provided that, so long as no Event of Default has occurred and is continuing, Landlord shall not be entitled to exercise the foregoing rights more than once, in the aggregate, in any calendar year.

 

15.2                       Grant Liens.  Any Lien or other encumbrance now existing and securing any borrowing or other means of financing or refinancing or otherwise shall provide for the recognition of this Master Lease and all Tenant’s rights hereunder. Subject to the foregoing sentence and Section 7.3, without the consent of Tenant, Landlord may from time to time, directly or indirectly, create or otherwise cause to exist any Lien, title retention agreement or other encumbrance upon the Premises, or any portion thereof or interest therein (including this Master Lease), whether to secure any borrowing or other means of financing or refinancing or otherwise. Upon the request of Landlord, Tenant shall subordinate this Master Lease to the Lien of any such encumbrance so long as (a) such encumbrance provides that it is subject to the rights of Tenant under this Master Lease and that so long as no Event of Default shall exist beyond any applicable cure period, Tenant’s occupancy shall not be disturbed if any Person takes possession of the applicable portion of the Premises through foreclosure proceedings or otherwise and (b) is otherwise in form and substance reasonably acceptable to Tenant.

 

15.3                       Estoppel Certificates.  At any time upon not less than ten (10) days prior written request by either Landlord or Tenant (the “Requesting Party”) to the other party (the “Responding Party”), the Responding Party shall have an authorized representative execute, acknowledge and deliver to the Requesting Party or its designee a written statement certifying (a) that this Master Lease and any implementing  Local Agreements, together with any specified modifications, is in full force and effect, (b) the dates to which Rent and additional charges have been paid, (c) that no default currently exists on the part of the Responding Party, and to the Responding Party’s actual knowledge, on the part of the Requesting Party or specifying any such default, and (d) as to such other matters as the Requesting Party may reasonably request.

 

15.4                       Conveyance Release.  If Landlord or any successor owner shall transfer any portion of the Premises in accordance with this Master Lease, they shall thereupon be released from all future liabilities and obligations hereunder arising or accruing from and after the date of such conveyance or other transfer, which instead shall thereupon be binding upon the new owner.

 

16.                               Assignment and Subletting.

 

16.1                       No Assignment or Subletting.  Without the prior written consent of Landlord, which may be withheld or conditioned at its sole discretion, this Master Lease shall not, nor shall any interest of Tenant herein, be assigned or encumbered by operation of law, nor shall Tenant voluntarily or involuntarily assign, mortgage, encumber or hypothecate any interest in this Master Lease or sublet any portion of the Premises. Any foregoing acts without such consent shall be void and shall, at Landlord’s sole option, constitute an Event of Default giving rise to Landlord’s right, among other things, to terminate this Master Lease. An assignment of this Master Lease by Tenant shall be deemed to include: (a) entering into a management or similar agreement relating to the operation or control of any portion of the Premises with a Person that is not an Affiliate of Tenant; or (b) any change (voluntary or involuntary, by operation of law or otherwise, including the transfer, assignment, sale, hypothecation or other disposition of any equity interest in Tenant) in the Person that ultimately exert effective Control over the management of the

 

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affairs of Tenant or Guarantor as of the date hereof; provided that an initial public offering of Tenant or Guarantor shall not be deemed to be an assignment of the Master Lease so long as thereafter less than twenty five percent (25%) of the voting stock of Tenant or Guarantor, as applicable, is held by any Person or related group that did not have such ownership before the initial public offering.

 

16.2                        Permitted Assignments and Sublets.

 

(a)                                 Notwithstanding Section 16.1 above, Tenant may, without Landlord’s prior written consent, assign this Master Lease or sublet the Premises or any portion thereof to an Affiliate of Tenant or any Guarantor if all of the following are first satisfied: (i) such Affiliate fully assumes Tenant’s obligations hereunder; (ii) Tenant remains fully liable hereunder and any Guarantor remains fully liable under its guaranty; (iii) the use of the applicable portion of the Premises shall comply with Section 7.1, above; (iv) Landlord shall be provided the proposed form and content of all documents for such assignment or sublease on or before the date that is twenty (20) days prior to such assignment or sublease, and (v) Landlord shall be provided executed copies of all such documents within fifteen (15) Business Days after such assignment or sublease.

 

(b)                                 Notwithstanding Section 16.1 above, Landlord’s consent shall not be required for any assignment of this Master Lease or change of Control of Tenant or Guarantor if the consolidated net worth of the successor Tenant (in the case of an assignment) or Tenant (in the case of a change of Control of Tenant), as applicable (such entity “Resulting Tenant”) or, successor Guarantor (in the case of an assignment) or Guarantor (in the case of a change of Control of Guarantor), as applicable (such entity, “Resulting Guarantor”) immediately after the effectiveness of the assignment or change of Control is equal to or greater than Three Hundred Million Dollars ($300,000,000.00) (such assignment or change of Control, a “Strong Tenant/Guarantor Transfer”), and each of the following conditions is met: (i) Resulting Tenant and/or Resulting Guarantor, or the officers, directors or managers thereof or of the Person that controls Resulting Tenant or Resulting Guarantor, as applicable, has sufficient operating experience and history with respect to the Business of the Facilities as had Tenant or Guarantor, as applicable (or the officers, directors or managers thereof or of the Person that controls Tenant or Guarantor) immediately prior to the Strong Tenant/Guarantor Transfer, or has retained a management company with such expertise to manage the Facilities; (ii) after a Strong Tenant/Guarantor Transfer, the Resulting Tenant and/or Resulting Guarantor, if different than the Tenant or Guarantor immediately prior to such Strong Tenant/Guarantor Transfer, shall assume all of the obligations of Tenant under the Lease and Guarantor under the Guaranty accruing subsequent to the effective date of such Strong Tenant/Guarantor Transfer by a written instrument in form and substance reasonably satisfactory to Landlord (the “Lease/Guaranty Assumption”); and (iii) no Event of Default shall have occurred and be continuing hereunder. A Person shall be deemed to have “sufficient operating experience and history” if, immediately prior to the Strong Tenant/Guarantor Transfer, such Person (together with its Affiliates and/or officers, directors and managers) (x) operated or managed (whether directly or through its operating subsidiary(ies)) at least twelve (12) facilities engaged in the Business of the Facilities (or the number of such facilities operated and/or managed by Guarantor, whichever is less) and (y) has been in the business of operating or managing such facilities for at least three (3) years (or for such period as Guarantor has been in such business, whichever is less). Upon delivery of the Lease/Guaranty Assumption, Landlord shall release Tenant from any liability under the Lease and Guarantor from any liability under the Guaranty first accruing from and after the effective date of such Strong Tenant/Guarantor Transfer.

 

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(c)                                  Notwithstanding Section 16.1 above, Tenant may, (i) without Landlord’s prior written consent, sublet portions of a Facility in the ordinary course of Tenant’s business to subtenants of such Facility for customary uses ancillary to Tenant’s permitted use including, pharmacy, physical therapy, imaging, and sundry providers, and (ii) subject to Landlord’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed, sublet all or any portion of the Premises, in each case using a form of sublease reasonably approved by Landlord.

 

(d)                                 Notwithstanding Section 16.1 above and subject to Tenant’s obligations pursuant to Section 9.2, Tenant shall have the right from time to time during the Term hereof and without Landlord’s further approval, written or otherwise, to grant and assign a security interest in Tenant’s interest in all Tenant Personal Property or other property of Tenant that is not a part of the Premises to Tenant’s lenders. In addition, Tenant may grant and assign a mortgage or other security interest in Tenant’s interest in this Master Lease to Tenant’s lenders in connection with Tenant’s financing of Tenant’s interest in this Master Lease provided that: (i) Tenant pays all reasonable costs, expenses and charges of Landlord incident to the granting of any such mortgage or other security interest, including Landlord’s reasonable attorneys’ fees and expenses and (ii) Landlord has approved, in its reasonable discretion, the form of leasehold mortgage pursuant to which Tenant is granting a leasehold mortgage or other security interest in this Master Lease.

 

(e)                                  Tenant hereby acknowledges that an assignment, subleasing or other transfer of the Premises or a portion thereof under this Section 16 will cause Landlord to incur administrative and other expenses not contemplated under this Master Lease. Accordingly, prior to or concurrently with an assignment, sublease or other transfer of the Premises or a portion thereof pursuant to Section 16.1 or Sections 16.2, Tenant shall reimburse Landlord for any and all reasonable costs and expenses (including, without limitation, reasonable attorneys’ fees) incurred by Landlord in connection with such assignment, sublease, or other similar transfer.

 

(f)                                   In no event shall Tenant sublet any portion of the Premises on any basis such that the rental to be paid by the sublessee would be based, in whole or in part, on either the income or profits derived by the business activities of the sublessee-

 

17.                               Damage by Fire or Other Casualty.  Tenant shall promptly notify Landlord of any material damage or destruction of any portion of the Premises and diligently repair or reconstruct such portion of the Premises in a good and workman like manner to a like or better condition than existed prior to such damage or destruction in accordance with Section 8.4. So long as no Event of Default exists, any award of insurance proceeds up to and including One Hundred Thousand Dollars ($100,000.00) shall be paid directly to Tenant. In the event that any award of net insurance proceeds payable with respect to the casualty are in excess of One Hundred Thousand Dollars ($100,000.00), such insurance proceeds (i) shall be paid directly to Landlord, and (ii) if no Event of Default exists, shall be made available to Tenant for the repair or reconstruction of the applicable portion of the Premises subject to the following disbursement requirements:

 

(a)                                prior to commencement of restoration, the architects, contracts, contractors, plans and specifications, payment and performance bond from the general contractor for the work and a budget for the restoration shall have been approved by Landlord, which approval shall not be unreasonably withheld, delayed, or conditioned;

 

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(b)                                Tenant shall possess such additional funds which Landlord reasonably determines are needed to pay all costs of the repair or restoration and such Tenant funds shall be made available by Tenant as required to pay for the costs of the restoration;

 

(c)                                 at the time of any disbursement, except as permitted pursuant to Section 5.1, no mechanics’ or materialmen’s liens or similar liens under the relevant legislations shall have been filed against any of the Premises and remain undischarged;

 

(d)                                disbursements shall be made from time to time (within reasonable time frames to perform and complete the restoration, but not more frequently than monthly) in an amount not exceeding the cost of the restoration completed since the last disbursement, upon receipt of (i) satisfactory evidence, including architects’ certificates, of the stage of completion, the estimated total cost of completion and performance of the restoration to date in a good and workmanlike manner in accordance with all material respects with the contracts, plans and specifications, (ii) waivers of liens, and (iii) contractors’ and subcontractors’ sworn statements as to completed work and the cost thereof for which payment is requested; and

 

(e)                                 each request for disbursement shall be accompanied by a certificate of Tenant, signed by an officer of Tenant, describing the restoration for which payment is requested, stating the cost incurred in connection therewith, stating that Tenant has not previously received payment for such restoration and, upon completion of the restoration, also stating that the restoration has been fully completed and complies with the applicable requirements of this Master Lease.

 

If such proceeds are insufficient, Tenant shall provide the required additional funds; if such proceeds are more than sufficient, the surplus shall belong and be promptly paid to Tenant upon completion of the restoration in accordance with the requirements of this Master Lease. Tenant shall not have any right under this Master Lease, and hereby waives all rights under applicable law, to abate, reduce or offset rent by reason of any damage or destruction of any portion of the Premises of any amount by reason of an insured or uninsured casualty.

 

If at any time during the last two (2) years of the Term, fire or other casualty shall render the whole or any portion of a Facility untenable and such Facility (or any portion thereof) cannot reasonably be expected to be repaired within two hundred seventy (270) days from the date of such event, then Tenant, by notice in writing to Landlord within ninety (90) days from the date of such damage or destruction, may terminate this Master Lease with respect to such Facility effective upon a date within thirty (30) days from the date of such notice in which event (i) the insurance proceeds payable with respect to the casualty to such Facility (except to the extent related to Tenant Personal Property) shall be paid to Landlord, and (ii) this Master Lease shall be deemed terminated as to such Facility and Minimum Rent and Additional Rent due hereunder shall be reduced by the amount allocated to such Facility in Exhibit A-2.

 

18.                               Condemnation.  Except as provided to the contrary in this Section 18, this Master Lease shall not terminate and shall remain in full force and effect in the event of a taking or condemnation of the Premises, or any portion thereof, and Tenant hereby waives all rights under applicable law to abate, reduce or offset Rent by reason of such taking. If during the Term all or substantially all (a “Complete Taking”) or a smaller portion (a “Partial Taking”) of any Facility is taken or condemned by any competent public or quasi-public authority, then (a) in the case of a Complete Taking, Tenant may at its election made within thirty (30) days of the effective date of such Taking, terminate this Master Lease with respect to such Facility and the current Rent shall be equitably abated as of the effective date of such termination, or (b) in

 

20

 

the case of a Partial Taking, the Rent shall be abated to the same extent as the resulting diminution in Fair Market Value of the applicable portion of the Premises. The resulting diminution in Fair Market Value on the effective date of a Partial Taking shall be as established pursuant to Exhibit C. In the event this Master Lease is terminated as to any Facility under this Section 18, then the Minimum Rent and Additional Rent due hereunder shall be reduced by the amount allocated to such Facility in Exhibit A-2. Landlord alone shall be entitled to receive and retain any award for a taking or condemnation other than a temporary taking; provided, however, Tenant shall be entitled to submit its own claim in the event of any such taking or condemnation with respect to the value of (u) Tenant’s leasehold interest in any portion of the Premises, (v) the relocation costs incurred by Tenant as a result thereof, (w) Tenant Personal Property, (x) other tangible property, (y) moving expenses, and/or (z) loss of business, if available. In the event of a temporary taking of less than all or substantially all of the Premises, Tenant shall be entitled to receive and retain any and all awards for the temporary taking and the Minimum Rent and Additional Rent due under this Master Lease shall be not be abated during the period of such temporary taking.

 

19.                                Indemnification.  Tenant agrees to protect, indemnify, defend and save harmless Landlord, its directors, officers, shareholders, agents and employees (each an “Indemnitee”) from and against any and all foreseeable or unforeseeable liability, expense, loss, cost, deficiency, fine, penalty or damage (including punitive but excluding consequential damages) of any kind or nature, including reasonable attorneys’ fees, from any suits, claims or demands, on account of any matter or thing, action or failure to act arising out of or in connection with (unless caused by an Indemnitee) this Master Lease, the Premises or the operations of Tenant on any portion of the Premises, including (a) the breach by Tenant of any of its representations, warranties, covenants or other obligations hereunder, (b) any Protest, and (c) all known and unknown Environmental Activities on any portion of the Premises, Hazardous Materials Claims or violations by Tenant of a Hazardous Materials Law with respect to any portion of the Premises, except to the extent such Environmental Activities, Hazardous Materials Claims or violations arise out of any negligent or willful act or omission of Landlord or its affiliates, employees or agents. Upon receiving knowledge of any suit, claim or demand asserted by a third party that Landlord believes is covered by this indemnity, it shall promptly give Tenant written notice of such matter. If Landlord does not elect to defend the matter with its own counsel at Tenant’s expense, Tenant shall then defend Landlord at Tenant’s expense (including Landlord’s reasonable attorneys’ fees and costs) with legal counsel reasonably satisfactory to Landlord and Tenant’s insurer. The obligations of Tenant under this Section 19 shall survive any termination, expiration, or rejection in bankruptcy of this Master Lease, but only with respect to matters that arose, occurred, or existed prior to such termination, expiration, or rejection.

 

20.                                Disputes. Any legal action, suit or proceeding arising under or related in any way to this Master Lease, the relationship of the parties, the transactions leading to this Master Lease or contemplated hereby,  and/or the interpretation and enforcement of the rights and duties of the parties hereunder or related in any way to the foregoing may only be instituted in any state or federal court in the city of Fort Myers, Florida, and each party waives any objection which such party may now or hereafter have to the laying of the venue of any such action, suit or proceeding, and irrevocably submits to the jurisdiction of any such court in any such action, suit or proceeding. If any party brings any action to interpret or enforce this Master Lease, or for damages for any alleged breach, the prevailing party shall be entitled to reasonable attorneys’ fees and costs as awarded by the court in addition to all other recovery, damages and costs. EACH PARTY HEREBY WAIVES ANY RIGHTS TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER PARTY AGAINST THE OTHER IN CONNECTION WITH ANY MATTER WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS MASTER LEASE, INCLUDING RELATIONSHIP OF

 

21

 

THE PARTIES, TENANT’S USE AND OCCUPANCY OF ANY PORTION OF THE PREMISES, OR ANY CLAIM OF INJURY OR DAMAGE RELATING TO THE FOREGOING OR THE ENFORCEMENT OF ANY REMEDY.

 

21.                                Notices.  All notices and demands, certificates, requests, consents, approvals and other similar instruments under this Master Lease shall be in writing and sent by personal delivery, U.S. certified or registered mail (return receipt requested, postage prepaid) or FedEx or similar generally recognized overnight carrier regularly providing proof of delivery, addressed as follows:

 

If to any Tenant, each of which have

appointed Vidt Centro Médico S.R.L.

as agent/attorney-in-fact:

 

With a copy to:

 

21st Century Oncology, Inc.

2270 Colonial Boulevard

Fort Myers, FL, 33907, USA

Att: Vice President International Finance and Treasurer

 

If to Landlord:

Marval, O ́Farrell & Mairal

Leandro N.Alem 928, 7th Floor

C1001AAR Buenos Aires, Argentina

Attn:  Diego Krischcautzky / Osvaldo Norte Sabino

 

A party may designate a different address by notice as provided above. Any notice or other instrument so delivered (whether accepted or refused) shall be deemed to have been given and received on the date of delivery established by U.S. Post Office return receipt or the carrier’s proof of delivery or, if not so delivered, upon its receipt. Delivery to any officer, general partner or principal of a party shall be deemed delivery to such party. Notice to 21st Century Oncology, Inc. shall be deemed notice to all co-Tenants.

 

22.                               Miscellaneous.  Since each party has been represented by counsel and this Master Lease has been freely and fairly negotiated, all provisions shall be interpreted according to their fair meaning and shall not be strictly construed against any party. While nothing contained in this Master Lease should be deemed or construed to constitute an extension of credit by Landlord to Tenant, if a portion of any payment made to Landlord is deemed to violate any applicable laws regarding usury, such portion shall be held by Landlord to pay the future obligations of Tenant as such obligations arise and if Tenant discharges and performs all obligations hereunder, such funds will be reimbursed (without interest) to Tenant on the Termination Date. If any part of this Master Lease shall be determined to be invalid or unenforceable, the remainder shall nevertheless continue in full force and effect. Time is of the essence, and whenever action must be taken (including the giving of notice or the delivery of documents) hereunder during a certain period of time or by a particular date that ends or occurs on a Saturday, Sunday or federal holiday, then such period or date shall be extended until the immediately following Business Day. Whenever the words “including,” “include,” or “includes” are used in this Master Lease, they shall be interpreted in a non-

 

22

 

exclusive manner as though the words “without limitation” immediately followed. Whenever the words “day” or “days” are used in this Master Lease, they shall mean “calendar day” or “calendar days” unless expressly provided to the contrary. The titles and headings in this Master Lease are for convenience of reference only and shall not in any way affect the meaning or construction of any provision. Unless otherwise expressly provided, references to any “Section” means a section of this Master Lease (including all subsections), to any “Exhibit” or “Schedule” mean an exhibit or schedule attached hereto. If more than one Person is Tenant hereunder, their liability and obligations hereunder shall be joint and several. The liability and obligations of Guarantors hereunder shall be joint and several.. This Master Lease (a) contains the entire agreement of the parties as to the subject matter hereof and supersedes all prior or contemporaneous verbal or written agreements or understandings, (b) may be executed in one or more facsimile or electronic counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document, (c) may only be amended by a writing executed by the parties, (d) shall inure to the benefit of and be binding upon the successors and permitted assigns of the parties, (e) shall be governed by and construed and enforced in accordance with the internal laws of the state of Florida without regard to the conflict of laws rules thereof, provided that the law of the Country in which each Facility is located (each a “Situs Country”) shall govern procedures for enforcing, in the respective Situs Country, provisional and other remedies directly related to such Facility and related personal property as may be required pursuant to the law of such Situs Country, including without limitation the appointment of a receiver; and, further provided that the law of the Situs Country also applies to the extent, but only to the extent, necessary to create, perfect and foreclose the security interests and liens created under this Master Lease, and (f) incorporates by this reference any Exhibits and Schedules attached hereto.

 

23.                               Right of First Refusal.

 

(a)                                 During the Term and subject to the terms and conditions and except as otherwise expressly provided in this Section 23, Tenant shall have a right of first refusal to purchase all of the Subject Facilities (as defined below) that are the subject of a Third Party Offer (as defined below). Within five (5) Business Days of Landlord’s decision to accept a Third Party Offer (or its acceptance of such offer subject to the right of first refusal granted herein) Landlord shall deliver to Tenant a written notice (the “Offer Notice”) (i) stating that Landlord is prepared to accept (or has already accepted subject to the right of first refusal granted herein) the applicable Third Party Offer, (ii) identifying the Subject Facilities, and (iii) describing the material terms and conditions (including purchase price and earnest money deposit) under which the third party proposes to purchase the Subject Facilities.

 

(b)                                 As used herein, the following terms shall have the following meanings:

 

(1)                                 “Third Party Offer” shall mean a written offer, proposal, letter of intent or similar instrument setting forth the material terms and conditions under which a third party which is not an Affiliate of Landlord proposes to enter into a purchase of all or a portion of the Premises.

 

(2)                                 “Subject Facilities” shall mean that portion of the Premises (or those Facilities) that are the subject of the purchase proposal contained in the Third Party Offer.

 

(c)                                  Tenant shall have fifteen (15) Business Days from its receipt of an Offer Notice to elect to purchase the Subject Facilities by delivery of written notice of such election to Landlord (the “Purchase Notice”). For the avoidance of doubt, Tenant may only elect to purchase all of the Subject Facilities and may not elect to purchase some but not all of the Subject Facilities.

 

23

 

(d)                                 Landlord and Tenant shall have a period of thirty (30) days from Landlord’s receipt of the Purchase Notice (the “Purchase Agreement Period”) to negotiate in good faith a purchase and sale agreement and related documentation necessary to complete the disposition of the Subject Facilities (the “Purchase Documentation”). The Purchase Documentation shall contain the purchase price, earnest money deposit, and other material terms and conditions contained in the Third Party Offer. In the event Landlord and Tenant enter into the Purchase Documentation within the Purchase Agreement Period, then the transaction that is the subject of such Purchase Documentation shall be consummated within thirty (30) days of the execution thereof (the “Closing Date”).

 

(e)                                  In the event that (i) Tenant does not timely provide the Purchase Notice, (ii) Landlord and Tenant are unable to agree upon the Purchase Documentation within the Purchase Agreement Period, or (iii) following execution of the Purchase Documentation, the transaction that is the subject thereof is not consummated on or before the Closing Date as a result of a default by Tenant in its obligations under the Purchase Documentation, then Landlord shall be free to sell the Subject Facilities to the third party who submitted the Third Party Offer on terms not materially more favorable to the acquiring party than are set forth in the applicable Third Party Offer. If such sale is not consummated within thirty (30) days following the Purchase Agreement Period, or if at any time Landlord agrees with such third party to modify the terms of the proposed transaction in a manner materially more favorable to the third party, Tenant’s right of first refusal as granted herein shall be reinstituted and Landlord shall give Tenant prompt written notice of the same.

 

(f)                                     Notwithstanding anything in this Section 23 which may be construed or interpreted to the contrary, the terms of this Section 23 (including the right of first refusal granted herein) shall not apply to any of the following: (i) any sale, transfer, or other disposition of the Premises or any portion thereof to any Affiliate, parent, spouse, sibling, son or daughter, or subsidiary of Landlord or to a joint venture entity, relationship, partnership or similar business arrangement in which Landlord or any of Landlord’s Affiliates is the managing member or general partner and holds at least a twenty five percent (25%) equity ownership interest, (ii) to any merger, business combination, or similar transaction involving all or substantially all of the assets of Landlord and its Affiliates; or (iii) any judicial or non-judicial foreclosure sale or deed in lieu of foreclosure pursuant to any mortgage or deed of trust now or hereafter encumbering the Premises or any portion thereof in favor of an unaffiliated third party.

 

(g)                                   In the event Tenant purchases the Subject Facilities pursuant to this Section 23, this Master Lease shall terminate as to the Subject Facilities and the Minimum Rent and Additional Rent due hereunder shall be reduced by the amount allocated to such Subject Facility in Exhibit A-2.

 

24.                               Economic Substitution.

 

24.1                                                                                                                         Provided that no Event of Default exists on the Option Exercise Date or the Closing Date, Tenant may offer to purchase an Option Premises (as defined herein) by giving Landlord written notice thereof (the “Exercise Notice”) at least sixty (60) days, but not more than one hundred eighty (180) days, prior to the desired closing date (the date on which such notice is delivered being the “Option Exercise Date”) provided that (a) Tenant provides Landlord with substitute Replacement Premises in accordance with the requirements set forth below and (b) the substitution of the Replacement Premises for the Option Premises does not result in a decrease in the Rent Coverage Ratio from the Rent Coverage Ratio existing as of the Exercise Date.  Landlord may accept or reject such offer to purchase an Option Premises

 

24

 

at Landlord’s sole and absolute discretion.  As used herein, “Option Premises” shall mean the Facility or Facilities identified as the portion of the Premises that Tenant elects to be designated as the Option Premises in the Exercise Notice; provided, however, in no event shall Tenant be entitled to (i) include any Facility in the Option Premises unless Landlord has owned such Facility for a period of  two (2) years and (ii) designate more than five (5) Facilities as Option Premises during the Term.  As used herein, “Replacement Premises” shall mean a healthcare facility or facilities, of comparable or superior type, use, and quality to the Option Premises, and, subject to customary due diligence and property investigations by Landlord, reasonably acceptable to Landlord to be added to the Premises demised under this Master Lease in place of the Option Premises, as of the date of closing.  As used herein, “Rent Coverage Ratio” means, as of the date of determination, the ratio of (A) the Portfolio EBITDARM for the immediately preceding 6 calendar months, minus (I) an assumed management fee equal to five percent (5%) of the gross revenues generated during such six month period, and (II) one-twelfth (1/12) of the CapEx Amount multiplied by the aggregate rentable square footage of the Facilities on the calculation date and further multiplied by the number of months in the period of determination, to (B) the total amount of the Minimum Rent due for such six month period pursuant to the terms of this Master Lease.  As used herein, “Portfolio EBITDARM” means, for any period of determination, the aggregate net income (or loss) of Tenant for such period to the extent derived from the collective operation of the Premises, adjusted to add thereto, to the extent allocable to the Premises, without duplication, any amounts deducted in determining such net income (or loss) for (a) interest expense, (b) income tax expense, (c) depreciation and amortization expense, (d) rental expense, and (e) management fee expense, in each case determined in conformity with generally accepted accounting principles, consistently applied.  With respect to any Replacement Premises that has been operating for less than twelve (12) months as of the Option Exercise Date, Portfolio EBITDARM shall be calculated using a commercially reasonable estimate of the net income (or loss) of Tenant for such Replacement Premises during the first year of operations.   Such commercially reasonable estimate of net income (or loss) shall be based on documentation that is reasonably satisfactory to Landlord and shall be calculated utilizing accounting and forecasting principles consistently applied and reasonably satisfactory to Landlord.  Notwithstanding anything herein which may be interpreted to the contrary, Tenant shall be responsible for all costs and expenses incurred by Landlord or Tenant in connection with the transfer of the Option Premises to Tenant and the transfer of the Replacement Premises to Landlord, including, without limitation, all reasonable costs and expenses incurred by Landlord in connection with its due diligence investigation of the Replacement Premises (including reasonable attorneys’ fees), documentary transfer taxes, any title insurance premiums pursuant to Section 24.2(d) below and any and all recording and escrow fees.

 

24.2                                                                                                                         In connection with the transfer and conveyance of the Replacement Premises from Tenant to Landlord, the following provisions shall apply.  .

 

(a)                                                                                                                                  The closing of the transfer of the Replacement Premises from Tenant to Landlord shall be consummated through an escrow established with a national title company reasonably acceptable to Landlord (the “Title Company”).

 

(b)                                Landlord’s obligation to accept the Replacement Premises pursuant to this Section 24 shall be conditioned upon (i) the satisfaction of those conditions precedent reasonably agreed upon in the transaction documents, (ii) Tenant providing to Landlord, on or before the Substitution Closing Date, a certificate (in a form reasonably acceptable to Landlord) representing and warranting to Landlord that the representations and warranties contained in the transaction documents, are accurate with respect to the Replacement Premises as of the Substitution Closing Date, and (iii) Landlord and Tenant delivering to

 

25

 

Title Company any additional documents, information, or instruments reasonably necessary to accomplish the transfer of the Replacement Premises to Landlord and the transfer of the Option Premises to Tenant.

 

(c)                                                                                                                                   On a date mutually acceptable to Landlord and Tenant following the satisfaction of the conditions contained in Section 24.1 above (the “Substitution Closing Date”), Tenant shall convey, at no cost to Landlord, good and marketable title to the Replacement Premises pursuant to a deed in a form reasonably acceptable to Landlord.  Tenant shall deliver said deed to the Title Company on the Business Day prior to the Substitution Closing Date.

 

(d)                                                                                                                                  [INTENTIONALLY LEFT BLANK]

 

(e)                                                                                                                                   There shall be no proration of income or expenses related to the Replacement Premises.

 

24.3                       In connection with the conveyance of the Option Premises from Landlord to Tenant, the following provisions shall apply:

 

(a)                                                                                                                                  The closing of the transfer of the Option Premises from Landlord to Tenant shall be consummated through an escrow established with the Title Company and shall occur concurrently with the transfer to Landlord of the Replacement Premises.

 

(b)                                                                                                                                  Landlord shall convey title to the Option Premises pursuant to the form of deed mutually acceptable to Landlord and Tenant and in an “as is” condition without representation or warranty, but free and clear of all liens except Permitted Exceptions.  Landlord shall deliver said deed to the Title Company on the Business Day prior to the Substitution Closing Date.

 

(c)                                                                                                                                   There shall be no proration of income or expenses related to the Option Premises.

 

24.4                                                                                                                         [INTENTIONALLY LEFT BLANK]

 

24.5                                                                                                                         During the Term and subject to the limitations set forth herein, if one or more of the Facilities becomes uneconomical or unsuitable for continued use in Tenant’s business, Tenant may, with respect to not more than two (2) uneconomical Facilities, seek to terminate the Master Lease with respect to such uneconomical Facility or Facilities (such facility being herein called the “EAP”) in accordance with the conditions and limitations of this Section 24.5.

 

(a)                                                                                                                                  From time to time during the Term and provided no Event of Default has occurred and is continuing, if Tenant shall determine in good faith and deliver to Landlord a certificate signed by the president or chief financial officer of Tenant certifying that (i) continued use and occupancy by Tenant in Tenant’s business at such EAP is no longer consistent with either the business operation or business strategy of Tenant, and (ii) Tenant has determined to abandon the use at such EAP, then Tenant may give Landlord not less than ninety (90) calendar days prior written notice (the “EAP Notice”) that Tenant intends to arrange a sale of the EAP (“EAP Sale”) in accordance with the provisions of this Section 24.5.

 

(b)                                                                                                                                  In the case of an EAP Sale, Tenant must arrange the sale of the EAP on behalf of Landlord on terms and conditions reasonably acceptable to Landlord, which terms and conditions shall include, without limitation, the following:  (i) a purchase price not less than the Replacement Value for such EAP, which purchase price shall be payable in immediately available funds at the closing of the EAP

 

26

 

Sale, and (ii) the EAP Sale shall be on an “as is”, “where is”, “with all faults” basis without any representation or warranty whatsoever on the part of Landlord.  As used herein, “Replacement Value” shall be an amount equal to the greater of:  (1) the then Fair Market Value, as determined pursuant to Exhibit C, of the EAP, or (2) Landlord’s Investment in the EAP (minus any net award paid to Landlord for a taking pursuant to Section 18).  Prior to the closing of the EAP Sale, Tenant shall deliver to Landlord a covenant and undertaking (“EAP Undertaking”) in a form reasonably acceptable to Landlord pursuant to which Tenant (w) represents and warrants that Tenant is permanently abandoning such EAP, (x) covenants to vacate such EAP prior to the closing of the EAP Sale, (y) covenants not to operate another radiation treatment center (or whatever the then permitted use of the EAP is at the time of the EAP Notice) within five (5) miles of such EAP for two (2) years from the date of the EAP Sale, and (z) acknowledges and agrees that a breach or violation of such EAP Undertaking shall be an immediate Event of Default under this Master Lease.  Upon the sale of the EAP, this Master Lease shall be deemed terminated as to such EAP and Minimum Rent due hereunder shall be reduced by the amount allocated to such Facility in the Exhibit A-2.  If Landlord elects not to accept an EAP Sale and provided that Tenant has otherwise complied with all the provisions of this Section 24.5, the Master Lease with respect to such EAP shall be deemed terminated and Minimum Rent due hereunder shall be reduced by the amount allocated to such Facility in the Exhibit A-2.

 

(c)                                                                                                                                   Notwithstanding anything else in this Master Lease to the contrary, during the Term, Tenant shall only be permitted to cause an EAP Sale or cause the termination of the Master Lease for up to two (2) Facilities.

 

(d)                                                                                                                                  Tenant shall pay all charges incident to any transaction pursuant to this Section 24.5, including Landlord’s attorneys’ fees and expenses together with all prepayment fees and expenses solely with respect to the applicable Facility, including attorneys’ fees and expenses due a mortgagee, arising out of such transaction.

 

25.                              Guaranty

 

(a)                                Each of the Guarantors hereby absolutely, unconditionally and irrevocably guarantees the punctual payment and performance, when due, whether at stated maturity, by acceleration or otherwise, of all obligations of the Tenants hereunder (collectively, the “Guaranteed Obligations”).  Without limiting the generality of the foregoing, the Guarantor’s liability shall extend to all amounts that constitute part of the Guaranteed Obligations and would be owed by any Tenant or any Guarantor to Landlord s but for the fact that they are unenforceable or not allowable due to insolvency or the existence of a bankruptcy, reorganization or similar proceeding involving such Tenant or Guarantor.

 

(b)                                Each of Guarantor guarantees that the Guaranteed Obligations will be paid strictly in accordance with the terms of this Master Lease, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Landlord. The liability of each Guarantor under this Section 25 shall be irrevocable, absolute and unconditional

 

27

 

 

EXHIBIT “A” - 1

 

PROPERTIES

 

	
Location
    	
 
    	
Country
    	
 
    	
Landlord
    	
 
    	
Tenant
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Vidt 1923, PB “A”,   Buenos Aires
    	
 
    	
Argentina
    	
 
    	
Alejandro B. Dosoretz
    	
 
    	
Vidt Centro Medico   S.R.L.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Vidt 1924/32, Buenos   Aires
    	
 
    	
Argentina
    	
 
    	
Inversix S.A.
    	
 
    	
Vidt Centro Medico   S.R.L.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Vidt 1918/20, Buenos   Aires
    	
 
    	
Argentina
    	
 
    	
Inversix S.A.
    	
 
    	
Vidt Centro Medico   S.R.L.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Dean Funes 2869 Barrio   Alto Alberdi, Córdoba
    	
 
    	
Argentina
    	
 
    	
Inversix S.A.
    	
 
    	
Instituto Médico Dean   Funes S.A.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Guido 2271, Mar del   Plata
    	
 
    	
Argentina
    	
 
    	
Emprendimientos   Inmobiliarios de la Costa S.A.
    	
 
    	
Centro de Oncología y   Radioterapia de Mar del Plata S.R.L..
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Acevedo 365, Lomas de   Zamora
    	
 
    	
Argentina
    	
 
    	
Instituto Acevedo S.A.
    	
 
    	
Vidt Centro Médico   S.R.L. / Mevaterapia S.A.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
75m Oeste 25m Sur de   las Bodegas de la Imprenta Nacional, La Uruca, San Jose
    	
 
    	
Costa Rica
    	
 
    	
Antila Forte S.A.   (Costa Rica)
    	
 
    	
Centro Medico Irazu   S.A. (Costa Rica)
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
100m norte del almacen   Font, La Uruca, San Jose
    	
 
    	
Costa Rica
    	
 
    	
Antila Forte S.A.   (Costa Rica)
    	
 
    	
Centro Medico Irazu   S.A. (Costa Rica)
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Calle nueva N° 1 casa #   38-23 Colonia Escalón, San Salvador
    	
 
    	
El Salvador
    	
 
    	
Inversiones Médicas   Globales S.A. (El Salvador)
    	
 
    	
Servicios y Soluciones Médicas   S.A. (El Salvador)
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Av.Patria 2073 Colonia   Agraria, Guadalajara
    	
 
    	
México
    	
 
    	
Croin S.A. de C.V.   (México)
    	
 
    	
Clínica de Radioterapia   de Occidente, S.A. de C.V.
    

 

28

 

EXHIBIT “A” -2

 

ALLOCATION OF RENT

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
2017 Rent
    	
 
    	
 
    
	
 
    	
 
    	
2015 Rent
    	
 
    	
2016 Rent
   1.5% increase
    	
 
    	
1.5%
   increase
    	
 
    	
2018 Rent
    
	
Argentina
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Vidt 1924/32
    	
 
    	
17.600
    	
 
    	
17.864
    	
 
    	
18.132
    	
 
    	
FMV
    
	
Vidt 1918/20
    	
 
    	
10.900
    	
 
    	
11.064
    	
 
    	
11.229
    	
 
    	
FMV
    
	
Vidt 1923 (one bedroom apartment)
    	
 
    	
750
    	
 
    	
761
    	
 
    	
773
    	
 
    	
FMV
    
	
Dean Funes 2857 Córdoba
    	
 
    	
12.950
    	
 
    	
13.144
    	
 
    	
13.341
    	
 
    	
FMV
    
	
Acevedo
    	
 
    	
9.000
    	
 
    	
9.135
    	
 
    	
9.272
    	
 
    	
FMV
    
	
Guido (Mar del Plata)
    	
 
    	
7.000
    	
 
    	
7.105
    	
 
    	
7.212
    	
 
    	
FMV
    
	
Total
    	
 
    	
58.200
    	
 
    	
59.073
    	
 
    	
59.959
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Costa Rica
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Irazu
    	
 
    	
12.600
    	
 
    	
12.789
    	
 
    	
12.981
    	
 
    	
FMV
    
	
Centracam
    	
 
    	
8.400
    	
 
    	
8.526
    	
 
    	
8.654
    	
 
    	
FMV
    
	
Total
    	
 
    	
21.000
    	
 
    	
21.315
    	
 
    	
21.635
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Mexico
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Guadalajara
    	
 
    	
32.800
    	
 
    	
33.292
    	
 
    	
33.791
    	
 
    	
FMV
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
El Salvador
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
San Salvador
    	
 
    	
13.000
    	
 
    	
13.195
    	
 
    	
13.393
    	
 
    	
FMV
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Total
    	
 
    	
125.000
    	
 
    	
126.875
    	
 
    	
128.778
    	
 
    	
FMV
    
	
 
    	
 
    	
 
    	
 
    	
1,50
    	
%
    	
1,50
    	
%
    	
 
    

 

29

 

EXHIBIT “B”

 

FORM OF ARGENTINE LOCAL AGREEMENT

 

-ENGLISH VERSION-

 

Buenos Aires,                , 2015

 

[Landlord’s name]

[Landlord’s address]

 

Offer # 1/2015

 

Dear Sirs,

 

On behalf of [Tenant’s name] (the “Tenant”), we hereby offer to lease from you (the “Landlord”, and collectively with the Tenant, the “Parties”, and any of them, a “Party”) the property located at [address of the property to be leased] (the “Property”), pursuant to the terms and conditions set forth hereinbelow (the “Offer”).

 

This Offer is firm and irrevocable and shall be valid for the term of ten (10) days as from receipt hereof.

 

This Offer shall be deemed to be accepted if the Landlord sends a letter accepting this Offer (the “Acceptance”). In the event of Acceptance pursuant to the terms hereof, the Offer shall constitute a binding agreement between the Parties, enforceable pursuant to the terms thereof. The Offer shall otherwise automatically be null and void, as if it had never been drawn up, with no liability whatsoever for the Parties.

 

To be valid, enforceable and binding, all covenants, representations and other terms of this Offer, regardless of their wording, shall be deemed contingent upon full and unconditional acceptance of this Offer, in the manner herein stated, without requiring further formalities.

 

All capitalized terms shall have the meaning defined in the Offer.

 

The terms and conditions of this Offer are as follows:

 

ONE: The Landlord shall lease to the Tenant the Property with the measurements and surface area described in the relevant title deed and equipped as described in the inventory list attached hereto as Annex I. Notwithstanding the foregoing, the Tenant at present occupies the Property under earlier lease agreements executed with the Landlord.

 

TWO: In the event of Acceptance hereof, this lease shall have a total term of fifteen (15) years as from January 1, 2015, and the Tenant shall return the Property upon expiration of the term (December 31, 2029) without need of any demand whatsoever. In case of failure the return possession at the end of the aforesaid term Tenant shall pay as rental on the first (1st) business day of each month one and one-half (1-1/2) times the total of the last rent payable plus all additional charges accruing during the month and all other sums, if any, payable by Tenant pursuant to this offer. In the event that the Tenant remained in the Property after expiration of the lease term, with the Landlord’s consent and issue of receipts for payment of the rental fee, then the penalty clause established above shall not apply. Notwithstanding, tacit renewal shall not be deemed to have taken place and the provisions of Section 1218 of the Federal Civil and Commercial

 

30

 

Code shall apply.

 

THREE: The monthly rental fee is established in [rental fee in words] UNITED STATES DOLLARS (US$ [rental fee in numbers]), plus VAT. Each first and second anniversary of each Three-Year Term the rental fee shall be increased by an amount equal to 1.5% of the then current rental fee. The Tenant may pay the rental fee in cash in United States dollars or by means of wire transfer of the equivalent amount in Argentine pesos, calculated at the selling exchange published by Banco de la Nación Argentina on the date of payment. In the event that the foreign exchange open market ceased to exist, the Tenant may discharge its obligation through payment of the peso amount necessary to purchase dollar-denominated Argentine Government securities of any series —at the option of the Landlord- which when sold in the open market of Montevideo, Republic of Uruguay and/or New York, USA —at the option of the Landlord- yield the net cash United States dollar amount corresponding to the then current rental fee, free of expenses, taxes, withholdings and/or commissions. For calculation purposes, the Tenant shall use the information published in this regard by the newspapers Ámbito Financiero or El Cronista or La Nación or any other online information service such as Bloomberg or Reuters —at the option of the Landlord.

 

The Tenant declares to have conducted a prudent assessment of the risks it undertakes regarding potential value of the foreign currency. In this regard, neither Party may modify the terms of this Offer on the grounds of changes in the exchange rate between US dollars and the legal tender resulting in revaluation or depreciation of the Argentine peso against the US dollar. The value of the United States dollar is a risk freely undertaken by the Parties, and they mutually agree to refrain from considering that any laws that may affect the terms of the Offer are binding, including a public order declaration. In this regard, the Parties irrevocably waive any and all actions or any and all defenses on the grounds of or related to the theory of imprevision, acts of God and/or force majeure.

 

The Tenant shall pay the rental fee to the Landlord on or before the fifth business day each month at the Landlord’s address, or at the place and in the manner that the Landlord may specify. Mere expiration of the term for payment shall result in default by the Tenant. If any rent or other amount is not paid within (i) five (5) days after the due date for such payment, then Tenant shall thereafter pay to Landlord on demand a late charge equal to three percent (3%) of such delinquent amounts, and (ii) ten (10) days after the due date for such payment, such unpaid amount shall accrue interest from such date at the “Agreed Rate” of five percent (5%) plus the prime rate of interest as published in the Wall Street Journal on the eleventh (11th) day after the due date for such payment. This clause shall not be construed as authorization for late payment. Rental is agreed for full month periods and if, for whatever reason, the Tenant were to discontinue use of the Property prior to the end of any given month, the Tenant shall pay the full rental fee for such month.

 

In view of the length of the lease term, for the purposes of determining the rental fee, upon conclusion of the initial thirty-six (36) months of the lease term, and subsequently every thirty-six (36) months (the “Three-Year Term”), the Parties shall implement the following procedure: (i) the Parties shall select three (3) renowned real estate brokers with expertise and experience in commercial leases such as the Property; each Party shall select one real estate broker and the third shall be selected by mutual agreement (hereinafter, the “Real Estate Broker(s)”). If the Parties are unable to reach an agreement on joint selection of the third Real Estate Broker, then such Real Estate Broker shall be selected jointly by the Brokers selected by each of Landlord and Tenant; (ii) each Party shall notify its selection of Real Estate Broker in writing to the other Party at least ninety (90) calendar days prior to the start date of the relevant Three-Year Term in respect of which the rental price is to be determined, and the third Real Estate Broker shall be selected at least sixty (60) calendar days prior to such date; (iii) the new rental fee for the subsequent Three-Year Term shall be determined at least thirty (30) calendar days prior to the start date of the relevant Three-Year Term; (iv) the Landlord shall submit a letter to each Real Estate Broker requesting an appraisal of the rental market for similar Properties in the local market; (v) the Real Estate Brokers shall report in

 

31

 

writing the price to be allocated as monthly rental fee for the subsequent Three-Year Term on the basis of current market values; (vi) the new monthly rental fee shall be the average of the values reported by the Real Estate Brokers; (vii) the cost of appraisals performed by the Real Estate Brokers selected jointly shall be borne by the Tenant; and (viii) the new monthly rental fee plus applicable VAT shall be paid in accordance with the remaining terms of this Offer. Notwithstanding the foregoing, the rental fee for the first year of the subsequent Three-Year Term shall not be (i) more than 10% higher than the applicable rental fee upon expiration of the preceding Three-Year Term; or (ii) less than 90% of such amount.

 

FOUR: The Property shall be used by the Tenant solely for [e.g., “provision of radiology, oncology and related services”].

 

FIVE: The Tenant may not assign the lease on the Property and the rights and obligations arising from the Offer, unless the Landlord has expressly consented to any such assignment in writing. The Tenant shall not transfer and/or assign in any manner the lease on the Property and/or any of the rights and/or causes of actions and/or obligations arising from the Offer and/or shall not loan, assign or sublet the Property in whole or in part.

 

SIX: All repair works in the Property, as well as conservation thereof, shall be at the expense of the Tenant, including the event of acts of God or force majeure which is expressly assumed by the Tenant, and all improvements shall be for the benefit of the Landlord, without entitlement to any compensation whatsoever. The Tenant shall allow the Landlord free access to the Property as respects inspection and execution of any and all works that may be required in connection with conservation of or improvements to the property, and this authorization shall be subject to execution of works without interfering with the Tenant’s normal and regular operations and without causing any physical or material losses to the Tenant.

 

Lighting, sweeping and cleaning rates as well as utility (gas, electricity and telephone) and other municipal, provincial or national rates and/or charges pertaining to the Property shall be borne by the Tenant, as well as all national, provincial and/or municipal taxes relating to the Tenant’s activities or business, and any other rates, taxes or contributions that may be created in the future and levied on the Property. The relevant payment receipts for the above items shall be delivered by the Tenant on a monthly basis for inspection by the Landlord in order to prevent interruption of provision of utility services and/or potential claims by creditor entities. [It is hereby clarified that any and all applicable payments by way of withholding taxes shall be borne by the Tenant].

 

The lease comprises telephone lines No. [telephone numbers] connected and in operation in the Property. During the term of the lease the Tenant shall transfer the telephone numbers to its name and shall be responsible for payment of the landline telephone service. The telephone lines shall remain in the Property and the Tenant undertakes not to transfer the same to any other location. The Tenant shall ensure that, upon return of the Property to the Landlord, the telephone lines are transferred back to the Landlord’s name. Breach hereof and/or loss and/or forfeiture of the telephone line(s) shall result in the Tenant’s obligation to pay compensation equal to [number of months] of the rental price for the Property as at such date by way of damages. Such compensation shall also apply in the event of removal of the telephone line(s) from the Property, even if the same are in the name of the Tenant.

 

SEVEN: On the date of Acceptance the Property is conveyed for occupation by the Tenant in proper state of conservation and free of occupants, and the Tenant shall return the property to the Landlord in the same condition that it was received, with the exception of deteriorations inherent to normal use and the passage of time. The Tenant shall otherwise be liable to the Landlord for any damages or losses caused.

 

EIGHT: The Tenant may not make changes to or execute any works in the Property in excess of US$ 50,000 unless the Landlord has granted prior authorization including an express and detailed description of

 

32

 

the nature and characteristics of the works thus authorized. Inspections may be conducted by the Landlord or authorized third parties in connection with the condition of the Property, compliance with obligations under this Offer and compliance with legal obligations pertaining to the activities conducted by the Tenant in the Property. All hazardous activities and/or the introduction into the Property of elements that may cause damages or potential injuries to the Property or persons are prohibited.

 

Notwithstanding the foregoing, the Tenant shall be authorized to place any and all types of equipment, furniture and/or instruments related to the activities to be conducted in the Property as stated in Section Four.

 

NINE: The Landlord shall not be liable for any material, physical or moral losses or damages that may be suffered by persons, goods, furniture, garments, fixtures, fittings, belongings, valuables, etc, belonging to the Tenant or any other person inside or outside the Property, regardless of their cause, be it internal or external, visible or concealed, including, without limitation, dampness, water leaks, pipe ruptures, fire of any type, short-circuits, rain, flooding, leakage, radiation, industrial accidents or otherwise, including acts of God or force majeure, etc. The Tenant shall take all necessary precautionary measures and steps.

 

In addition, the Tenant shall buy insurance [characteristics and insurance coverage amounts in accordance with local standards] and such insurance shall remain in force during the term of the lease, and the second paragraph of Section Six shall apply thereto. Tenant shall provide Landlord, at its request, with copies of the relevant policies.

 

The Landlord shall not be liable for any penalties applied to the Tenant or closures of the Property derived from or related to the activities conducted by the Tenant. Upon occurrence of any of these circumstances, the Tenant shall notify the Landlord forthwith and in any event within the term of 72 hours. The Landlord may choose to continue with the lease or request termination thereof by fault of the Tenant, and the Tenant shall also be liable for any damages to the Landlord and/or third parties caused by such situation.

 

TEN: Lack of payment of the rental fee in accordance with the terms set forth in this Offer for two consecutive periods, or breach of any other provision of this Offer, shall entitle the Landlord to terminate this Offer as a matter of law and without need of any demand or court resolution whatsoever, and to demand immediate return of the vacated property.

 

ELEVEN: For the purposes of evidencing return of the Property to the Landlord, delivery of the keys to the Property shall be evidenced by means of a written document issued by the Landlord to the Tenant, and no other means of proof shall be admitted.

 

TWELVE: Non-compliance with its obligations by one Party shall entitle the complying Party to terminate the lease agreement by fault of the non-complying Party, and shall entitle the complying Party to claim damages against the non-complying Party, without prejudice to any other rights and/or causes of action set forth in the Offer, e.g. the right to claim payment of the stipulated penalty clause if the Property is not returned to the Landlord prior to or upon expiration of the lease term.

 

THIRTEEN: It is hereby expressly set forth that in the event of consignment of keys or in any other event resulting from a breach of contract by the Tenant, the obligation to pay the rental fee shall remain in force until the Landlord has taken actual and effective possession of the Property.

 

FOURTEEN: It is hereby placed on record that all formalities required to obtain provisional or definitive municipal permits, as well as the consent of any national, provincial and/or municipal agency that may be required for operation of the activities to be conducted in the Property shall be at the risk and expense of the Tenant.

 

33

 

FIFTEEN: The Tenant shall not terminate the lease unilaterally without cause and hereby waives such right on the basis that the relationship arising from acceptance of this Offer is part of a contractual structure relating the Landlord, the Tenant, the Guarantor and their respective majority shareholders to one another, and consequently the Tenant irrevocably waives the right to terminate the lease without cause.

 

SIXTEEN:  Vidt Centro Médico S.A. and 21st Century Oncology Inc.] (the “Guarantors”), in their capacity of guarantors, joint debtor, and main payor, acknowledge and undertake full performance of all the obligations of the Tenant under the Offer, and expressly waive the rights of division and excussio, including obligations that may arise in the event that the Tenant exercises its right to extend the lease term as set forth in Section Three hereof. This guaranty shall survive after conclusion of the lease term and the Guarantors undertake to pay to the Landlord any and all sums that, by virtue of the lease, the Tenant is bound to pay, and they shall tender payment in the same manner as the Tenant. In the event of insolvency of one or both Guarantors, the Landlord may request one or more guarantees as replacement, to its satisfaction, and the Tenant shall obtain the acceptance of the new guarantor within the term of ten (10) calendar days of receiving notice, under warning of termination of the lease.]

 

SEVENTEEN: In the event of Acceptance, for the purposes of the lease and the rights and obligations arising from the Offer, notices to the Parties shall be valid when given at the following domiciles by choice, even if the interested parties are not present at such addresses or such addresses are not their domiciles:

 

To the Landlord at: [Landlord’s address], unless the Landlord notifies a new domicile to the Tenant upon Acceptance.

 

To the Tenant at: [Tenant’s address].

 

To the Guarantors at: [Guarantor’s address]

 

The Parties may change the above domiciles by choice by giving prior written notice to the other Party. Notices shall be given by any reliable means including, but not limited to, registered letter, regular mail with signed return receipt requested and/or notarial record.

 

EIGHTEEN: In the event of Acceptance, the Parties shall submit any dispute regarding application and interpretation of this Offer and/or any matter relating to the lease, including an action for eviction, to the jurisdiction of the ordinary courts of the city of [jurisdiction], and the Parties hereby waive all other courts or jurisdictions. The Tenant hereby waives the right to recuse judges without cause.

 

If the Landlord files the legal action set forth in Section [688 of the Federal Code of Civil and Commercial Procedure / 677 of the Code of Civil and Commercial Procedure of the Province of Buenos Aires] prior to expiration of the Offer, the Tenant expressly accepts that in the cases described in the last part of the aforementioned Section, costs shall be borne in the order entered.

 

	
Yours sincerely,
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
[Full name   of the party signing on behalf of the Tenant]
    	
 
    
	
[Identity   Document]
    	
 
    

 

34

 

[Capacity, attorney-in-fact, legal representative]

[Tenant’s name]

 

With a copy to:

 

Frank English

Treasurer

21st Century Oncology, Inc.

2270 Colonial Boulevard

Fort Myers, Florida, USA 33907

 

	
 
    	
 
    
	
[Full name   of the party signing on behalf of the Guarantor]
    	
 
    
	
[Identity   Document]
    	
 
    
	
[Capacity,   attorney-in-fact, legal representative]
    	
 
    
	
[Guarantor’s   name]
    	
 
    
	
 
    	
 
    
	
[Full name]
    	
 
    
	
[Capacity]
    	
 
    
	
Vidt Centro Médico S.A.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
[Full name   of the party signing on behalf of the Guarantor]
    	
 
    
	
[Identity   Document]
    	
 
    
	
[Capacity,   attorney-in-fact, legal representative]
    	
 
    
	
[Guarantor’s   name]
    	
 
    

 

35

 

Annex A

 

Description of furnishings and facilities comprising the Property

 

36

 

-SPANISH VERSION-

 

Buenos Aires,       de            de 2015

 

[Nombre del Locador]

[Dirección del Locador]

Presente:

 

Oferta # 1/2015

 

Tenemos el agrado de dirigirnos a Uds. (el “Locador”) en representación de [Nombre del Locatario] (el “Locatario” y en conjunto con el Locador, las “Partes” o cualquiera de ellas, la “Parte”) para ofrecerles tomar en locación el inmueble sito en [dirección del inmueble a dar en alquiler] (el “Inmueble”), bajo los términos y condiciones que se incluyen en la presente oferta (la “Oferta”).

 

La presente Oferta es en firme e irrevocable y se mantendrá en vigencia hasta los diez (10) días inclusive de recibida la presente.

 

Esta Oferta se considerará aceptada por el Locador, si éste envía una carta de aceptación de la presente Oferta (la “Aceptación”). En el caso que se produjere la Aceptación en los términos aquí establecidos, la Oferta constituirá un acuerdo vinculante entre las Partes ejecutable de conformidad con sus respectivos términos. En caso contrario, la Oferta quedará automáticamente sin valor ni efecto alguno, como si no hubiere sido escrita sin ningún tipo de responsabilidad para las Partes.

 

Todos los compromisos, declaraciones y demás términos de esta Oferta, cualquiera fuere el modo en que estuvieren redactados, deberán entenderse supeditados, para ser válidos, exigibles y vinculantes, a la aceptación total e incondicional de esta Oferta, en el modo aquí indicado, sin necesidad de otra formalidad.

 

Todos los términos en mayúscula tendrán el significado que se les asigna en la Oferta.

 

A continuación, se detallan los términos y condiciones de esta Oferta:

 

PRIMERA: El Locador da en locación al Locatario el Inmueble, cuyas medidas y superficie surgen del respectivo título de propiedad, que se encuentra equipado según inventario que se adjunta al presente como Anexo I. Sin perjuicio de lo anterior, el Locatario se encuentra ejerciendo la tenencia del Inmueble en virtud de relaciones locativas anteriores con el Locador.

 

SEGUNDA: En el caso que se produjere la Aceptación en los términos aquí establecidos, el término del presente contrato será de quince (15) años, contados a partir del 1 de enero de 2015, y el Locatario deberá entregar el Inmueble a la fecha del vencimiento (31 de diciembre de 2029), sin necesidad de interpelación alguna. En caso de no restituirse el Inmueble en la fecha indicada precedentemente, el Locatario deberá abonar, como precio del alquiler, en el primer día hábil de cada mes, uno y medio (1-1/2) veces del total del último precio del alquiler a pagar, más todos los gastos adicionales devengados durante el mes y todas las demás sumas, en su caso, a pagar por el Locatario conforme a la presente Oferta. En caso de permanecer el Locatario en el Inmueble, más allá del vencimiento del plazo de la locación, con la conformidad del Locador, otorgándose recibo de los alquileres por parte del mismo, no regirá la cláusula

 

37

 

penal antes descripta. No obstante en tal supuesto no se juzgará que hay tácita reconducción sino que será aplicable lo dispuesto en el artículo 1218 del Código Civil y Comercial de la Nación.

 

TERCERA: El precio del alquiler mensual se fija en la suma de DOLARES ESTADOUNIDENSES [monto del alquiler mensual en letras] (US$ [monto del alquiler mensual en números]), más el IVA.  Cada primer y segundo aniversario de cada Período Trienal, el alquiler se incrementará en un monto equivalente al 1,5% del alquiler vigente. El Locatario podrá abonar el alquiler en billetes dólares estadounidenses, o mediante transferencia bancaria en su equivalente en pesos según el tipo de cambio vendedor del Banco de la Nación Argentina vigente en la fecha del pago. Para el caso de que dejase de existir el mercado libre y único de cambios, el Locatario podrá liberarse abonando la cantidad de pesos necesarios para adquirir títulos públicos en dólares de la República Argentina de cualquier serie —a elección del Locador-, que vendidos en el mercado libre de la ciudad de Montevideo, República Oriental del Uruguay y/o de la ciudad de Nueva York, EE.UU —a elección del Locador-, produzcan la suma neta de dólares estadounidenses billetes que corresponda al período locativo vigente, libres de gastos, impuestos, retenciones y/o comisiones. A los efectos de dicho cálculo, el Locatario tomará la información que al efecto brindan los periódicos Ámbito Financiero o El Cronista o La Nación o cualquier otro servicio de información en línea, tal como Bloomberg o Reuters —a elección del Locador.

 

El Locatario declara haber hecho una prudente evaluación de los riesgos que asume con respecto al eventual valor de la moneda extranjera. En este sentido, cualquier modificación de la paridad entre la moneda extranjera y la de curso legal, que se tradujera en la reevaluación o devaluación del peso argentino con relación al dólar estadounidense no podrá ser invocada por ninguna de las Partes para alterar los términos de esta Oferta. El valor del dólar estadounidense, constituye un riesgo libremente asumido por las Partes, obligándose recíprocamente a abstenerse de considerar vinculantes toda legislación que pudiere incidir en los términos de la Oferta, aún en el caso de declaración de orden público. Al respecto, las Partes renuncian firme e irrevocablemente a promover cualquier acción o invocar cualquier defensa o excepción, referida o vinculada a la teoría de la imprevisión, caso fortuito y/o fuerza mayor.

 

El Locatario deberá pagar al Locador el alquiler mensual dentro del quinto hábil de cada mes en el domicilio del Locador, o donde y en la forma que este lo indique. El solo vencimiento del plazo hará incurrir al Locatario en mora de pleno derecho. Si el pago del alquiler u otra suma no es abonada dentro de los (i) cinco (5) días después de la fecha de vencimiento, el Locatario deberá abonarle al Locador un recargo por mora equivalente al tres por ciento (3%) de aquella suma, y (ii) diez (10) días después de la fecha de vencimiento, dicha suma impaga devengará un interés a la “Tasa Convenida” del cinco por ciento (5%) más la tasa prime (prime rate) publicada por el Wall Street Journal en el undécimo día de mora.  La presente clausula no significa autorización de pago fuera de término. El alquiler se pacta por períodos de mes entero, y aunque el Locatario cesara por cualquier causa que fuere, en el uso del inmueble, antes de finalizado el mes, deberá pagar íntegramente el alquiler correspondiente a ese mes.

 

En atención a la extensión del período de la locación, a los efectos de establecer el precio del alquiler, las Partes seguirán el siguiente procedimiento luego de transcurridos los primeros treinta y seis (36) meses del plazo de la locación, y luego, cada treinta y seis (36) meses (el “Período Trienal”): (i) las Partes elegirán tres (3) inmobiliarias de reconocido nombre, prestigio y experiencia en locaciones comerciales como la del Inmueble, las cuales serán elegidas una por cada una de las Partes y la tercera de común acuerdo (en adelante, la/s “Inmobiliaria/s”). En el caso de que las Partes no se pusieran de acuerdo en la elección conjunta de la tercera Inmobiliaria, entonces dicha Inmobiliaria deberá ser elegida en conjunto por las Inmobiliarias elegidas por el Locador y el Locatario; (ii) cada Parte notificará a la otra Parte por medio fehaciente la elección de la Inmobiliaria con una anticipación de por lo menos noventa (90) días corridos a la fecha de inicio del respectivo Período Trienal para el cual deba fijarse el valor locativo, debiendo

 

38

 

asimismo elegirse a la tercera Inmobiliaria con una anticipación de por lo menos (60) días corridos a la referida fecha; (iii) la definición respecto de la obtención del nuevo canon locativo mensual para el siguiente Período Trienal, deberá obtenerse con una anticipación de por lo menos (30) días corridos a la fecha de inicio del respectivo Período Trienal; (iv) el Locador presentará a cada una de las Inmobiliarias una nota solicitando la respectiva tasación en el mercado de alquiler de inmuebles similares en el mercado local; (v) las Inmobiliarias tomando como referencia los valores de mercado indicarán por escrito el precio que corresponde asignar como canon locativo mensual, para el siguiente Período Trienal Locativo; (vi) el nuevo valor del canon locativo mensual resultará del promedio que surja de los valores informados por las Inmobiliarias; (vii) el costo de las tasaciones de las Inmobiliarias elegida en forma conjunta será soportado por la locataria; y (viii) el pago del nuevo canon locativo mensual con más el IVA correspondiente, se realizará de conformidad con el resto de los términos de esta Oferta. Sin perjuicio de lo anterior, el valor del alquiler para el primer año de vigencia posterior al Período Trienal dado no podrá ser (i) superior en un 10% al alquiler en vigencia a la fecha de finalización del Período Trienal anterior; ni (ii) inferior al 90% de dicho valor.

 

CUARTA: El Inmueble deberá ser destinado por el Locatario exclusivamente a [ejemplo: “la explotación de servicios de radiología, medicina oncológica y actividades afines”].

 

QUINTA: La locación del Inmueble y los derechos y obligaciones que surgen de la Oferta son intransferibles para el Locatario, salvo consentimiento expreso por escrito del Locador. Queda prohibido al Locatario transferir y/o ceder de cualquier manera la locación del Inmueble y/o cualesquiera de los derechos y/o acciones y/u obligaciones emergentes de la Oferta y/o prestar, ceder o sublocar en todo o en parte el Inmueble.

 

SEXTA: Todos los arreglos a efectuarse en el Inmueble, así como su conservación, serán por cuenta exclusiva y cargo del Locatario, aun en los supuestos de caso fortuito o fuerza mayor que son asumidas en forma expresa por el Locatario quedando en todos los casos las mejoras introducidas en beneficio del Locador, sin derecho a indemnización alguna. El Locatario permitirá al Locador el libre acceso al Inmueble, para su inspección y la ejecución de todo trabajo que fuere necesario para la conservación o mejora de la propiedad, condicionada esta autorización a que las obras a ejecutarse en ningún caso obstaculizarán el normal funcionamiento de la actividad permanente del Locatario, ni ocasionarán perjuicios físicos o materiales al mismo.

 

El impuesto de alumbrado, barrido y limpieza así como los gastos por consumo de gas, luz y teléfono y restantes servicios y/o tasas, sean municipales, provinciales o nacionales, que correspondan al Inmueble son por cuenta exclusiva y a cargo del Locatario, así como también todos los impuestos nacionales, provinciales y/o municipales concernientes a su actividad o negocio, y cualquier tasa, impuesto o contribución a crearse en el fututo que grave el Inmueble. El Locatario deberá entregar mensualmente al Locador los recibos correspondientes a los pagos por los rubros antes mencionados, a los efectos de su fiscalización por parte del Locador, en procura de evitar la interrupción del servicio y/o eventuales reclamos de los entes acreedores. [Se deja aclarado que el monto que pudiera caber por retención impositiva es a cargo del Locatario].

 

Lo presente locación comprende las líneas telefónicas N° [líneas telefónicas], instaladas y funcionando en el Inmueble. Durante el período que dure la locación, el Locatario deberá pasar la línea a su nombre para ser responsable del pago de los servicios de telefonía fija. Las líneas telefónicas deberán permanecer en el Inmueble, obligándose el Locatario a no trasladarlas a ningún otro lugar. El Locatario asume a su cargo la obligación de que las líneas telefónicas vuelvan a nombre del Locador al tiempo de la restitución del Inmueble al Locador. El incumplimiento de lo aquí establecido y/o pérdida y/o privación definitiva de la/s

 

39

 

línea/s, hará pasible al Locatario, de una indemnización equivalente al monto de [cantidad de meses] del valor locativo del Inmueble a esa fecha, en concepto de daños y perjuicios. La referida indemnización rige también para el caso de retirarse la/s línea/s del Inmueble, aun cuando la titularidad de la/s línea/s estuviera a nombre del Locatario.

 

SÉPTIMA: El Inmueble se entrega a la fecha de la Aceptación bajo la tenencia del Locatario en perfecto estado de conservación y libre de ocupantes, debiendo restituirlo el Locatario al Locador en el mismo estado que lo recibió, salvo los deterioros originados por el buen uso y el transcurso del tiempo. En caso contrario el Locatario deberá responder frente al Locador por los daños y perjuicios ocasionados.

 

OCTAVA: El Locatario no podrá modificar el Inmueble ni realizar obras en el mismo que superen US$50.000 (dólares estadounidenses cincuenta mil), salvo autorización previa por escrito del Locador, donde deberá constar en forma expresa y detallada la índole y características de los trabajos autorizados. El Locador podrá inspeccionar por sí o por terceros que autorice, el estado del Inmueble y el cumplimiento de las obligaciones de esta Oferta y el cumplimiento de las obligaciones legales que correspondan a la actividad que desarrolla el Locatario en el Inmueble. Queda prohibida la realización de actividades peligrosas y/o la introducción en el Inmueble de elementos que puedan acarrear daños o perjuicios potenciales al Inmueble o a las personas.

 

Sin perjuicio de lo señalado precedentemente, el Locatario queda autorizado a colocar todo tipo de equipos, muebles y/o instrumentos, relacionados con la actividad para la cual será destinado el Inmueble según se indica en la cláusula cuarta.

 

NOVENA: El Locador no se responsabiliza en absoluto por ningún daño o perjuicio material, físico o moral que pudieran sufrir las personas, mercaderías, muebles, ropas, enseres, útiles, efectos, valores, etc., pertenecientes al Locatario o a cualquier otra persona que se hallare en el interior o exterior del Inmueble, cualquiera sea la causa, interna o externa, visible u oculta que las produzca, entre ellas y sin limitar, sea por humedades, pérdida de agua, rotura de cañerías, incendio de cualquier naturaleza, cortocircuitos, lluvias, inundaciones, filtraciones, radiaciones, accidentes de trabajo o no, inclusive por caso fortuito o fuerza mayor, etc. El Locatario deberá tomar las medidas y precauciones necesarias de resguardo.

 

Adicionalmente el Locatario deberá contratar un seguro [características y monto a cubrir por el seguro según standard local], que se obliga a mantener vigente durante todo el plazo de la locación, aplicándose al pago de las primas lo establecido en el segundo párrafo de la cláusula sexta. El Locatario deberá proporcionarle al Locador, a su requerimiento, las copias the las pólizas pertinentes.

 

El Locador tampoco se responsabiliza en lo concerniente a sanciones al Locatario o clausuras al Inmueble, derivadas o relacionadas con la actividad desplegada por el Locatario. Ante cualquiera de estas circunstancias, el Locatario deberá dar aviso de ello al Locador, en forma inmediata y no más allá del plazo de 72 horas. El Locador podrá optar por continuar con la locación o requerir su rescisión por culpa del Locatario, quien asimismo responderá por los daños y perjuicios que la situación irrogue al Locador y/o a terceros.

 

DÉCIMA: La falta de pago de dos períodos de alquiler en los términos fijados en la presente Oferta, o el incumplimiento de las demás clausulas en esta Oferta, faculta al Locador de pleno derecho y sin necesidad de interpelación de ninguna clase, ni declaración judicial, a rescindir esta Oferta exigiendo la restitución inmediata del Inmueble totalmente desocupado.

 

40

 

UNDÉCIMA: A los efectos de acreditar la restitución del Inmueble al Locador, la entrega de las llaves del Inmueble deberá ser justificada con documento escrito emanado del Locador al Locatario, no admitiéndose otro medio de prueba.

 

DÉCIMA SEGUNDA: El incumplimiento de las obligaciones por una Parte, dará derecho a la Parte no culpable a resolver la locación por culpa de la Parte incumplidora, con derecho a reclamarle los daños y perjuicios que le fueran ocasionados, y sin perjuicio de lo demás derechos y/o acciones establecidos en la Oferta, por ejemplo, respecto del derecho a reclamar el pago de la cláusula penal establecida para el caso de no restitución al Locador del Inmueble antes o al tiempo del vencimiento lo locación.

 

DÉCIMA TERCERA: Se deja expresa constancia que para el caso de consignación de llaves u otro supuesto, resultante del incumplimiento del contrato por parte del Locatario, la obligación de pagar el monto de alquiler regirá hasta el día en que el Locador tome posesión real y efectiva del Inmueble.

 

DÉCIMA CUARTA: Se deja constancia que son por cuenta y riesgo del Locatario todos los trámites necesarios para obtener la habilitación municipal sea precaria o definitiva, así como para la obtención de la conformidad de cualquier repartición nacional, provincial y/o municipal tendiente al funcionamiento de la actividad a la que se destinará el Inmueble.

 

DÉCIMA QUINTA: El Locatario no podrá resolver en forma unilateral la locación sin expresión de causa, renunciando desde ya a ese derecho sobre la base de que la relación locativa derivada de la aceptación de esta Oferta es parte de un complejo contractual que vincula al Locador, la Locataria, los Garantes y sus respectivos accionistas controlantes, por lo cual el Locatario renuncia en forma irrevocable a resolver la relación locativa sin expresión de causa.

 

DÉCIMA SEXTA: Vidt Centro Médico S.A. y 21st Century Oncology Inc.(los “Garantes”), declaran aceptar y se obligan al fiel cumplimiento en su carácter de garantes, codeudores, lisos y principales pagadores de todas las obligaciones establecidas a cargo del Locatario en la Oferta, con renuncia expresa a los beneficios de división o excusión, incluyendo aquellas que se originen en caso que el Locatario ejercite su derecho a extender el plazo de la locación según se establece en la Cláusula Tercera del presente. Esta garantía subsistirá aún vencido el término de la locación, obligándose los Garantes a abonar al Locador cualquier suma que, por cualquier concepto derivado de la locación, sea obligada a pagar el Locatario, lo que deberán hacer en la misma forma y modo que el Locatario. En caso de insolvencia de uno o ambos de los Garantes, el Locador podrá solicitar la presentación de otro u otros garantes en su reemplazo, a su satisfacción, debiendo el Locatario obtener la aceptación del nuevo garante dentro de los diez (10) días corridos de intimado, bajo apercibimiento de rescindir la locación.]

 

DÉCIMO SÉPTIMA: En caso de Aceptación, las Partes quedarán válidamente notificadas a los efectos de la locación y de los derechos y obligaciones que surgen de la Oferta, si se las notifican en los siguientes domicilios especiales, aunque los interesados no se encuentren o no se domicilien en dichos lugares:

 

Al Locador en: [domicilio del Locador], salvo que el Locador notifique al Locatario la constitución de otro domicilio en oportunidad de la Aceptación.

 

Al Locatario en: [domicilio del Locatario].

 

A los Garantes en: [domicilio de los garantes]

 

41

 

Las Partes podrán modificar los domicilios especiales, debiendo notificar dicha circunstancia en forma previa y fehaciente a la otra Parte. Las notificaciones deberán realizarse por cualquier medio fehaciente, pudiendo emplearse a tal efecto, entre otros, carta documento, carta simple con acuse de recibo firmado y/o actuación notarial.

 

DÉCIMO OCTAVA: En caso de Aceptación, las Partes se someten para cualquier divergencia que pudiere surgir de la aplicación e interpretación de esta Oferta y/o de cualquier cuestión vinculada a la locación, inclusive la acción de desalojo, a la Jurisdicción de los tribunales ordinarios de la ciudad de [jurisdicción], renunciando a todo otro fuero y jurisdicción. El Locatario renuncia desde ahora al derecho a recusar sin causa al magistrado.

 

Para el caso de que el Locador interponga antes del vencimiento del Oferta la acción legal que establece el artículo [688 del Código Procesal Civil y Comercial de la Nación / 677 del Código Procesal Civil y Comercial de la Provincia de Buenos Aires], el Locatario acepta en forma expresa que en los supuestos previstos en la última parte del mencionado artículo, las costas serán soportadas en el orden causado.

 

 

	
Sin más, saludamos a Uds. muy atte.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
[Nombre y apellido del firmante del Locatario]
    	
 
    
	
[DNI del firmante]
    	
 
    
	
[carácter del firmante, apoderado, rep. legal]
    	
 
    
	
[Nombre del Locatario]
    	
 
    
	
 
    	
 
    
	
Con copia a:
    	
 
    
	
 
    	
 
    
	
Frank English
    	
 
    
	
Tesorero
    	
 
    
	
21st Century Oncology   Inc.
    	
 
    
	
2270 Colonial Boulevard
    	
 
    
	
Fort Myers, Florida, USA 33907
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
[Nombre y apellido del firmante del Garante]
    	
 
    
	
[DNI del firmante]
    	
 
    
	
[Carácter del firmante, apoderado, rep. legal]
    	
 
    
	
[Nombre del Garante]
    	
 
    
	
 
    	
 
    
	
[Nombre y apellido]
    	
 
    
	
[Carácter]
    	
 
    
	
Vidt Centro Médico S.A.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
[Nombre y apellido del firmante del Garante]
    	
 
    
	
[DNI del firmante]
    	
 
    
	
[carácter del firmante, apoderado, rep. legal]
    	
 
    
	
[Nombre del Garante]
    	
 
    

 

42

 

Anexo A

Detalle descriptivo de los bienes e instalaciones que forman parte del Inmueble

 

43

 

EXHIBIT “C”

 

FAIR MARKET VALUE

 

“Fair Market Value” or “Fair Market Rent” means the fair market value (or fair market rent, as applicable) of the Premises or applicable portion thereof on a specified date as agreed to by the parties, or failing such agreement within ten (10) days of such date, as established pursuant the following appraisal process. Each party shall within ten (10) days after written demand by the other select one Appraiser to participate in the determination of Fair Market Value or Fair Market Rent, as applicable. For all purposes under this Master Lease, the Fair Market Value shall be the fair market value of the Premises or applicable portion thereof unencumbered by this Master Lease. Within ten (10) days of such selection, the Appraisers so selected by the parties shall select a third (3rd) Appraiser. The three (3) selected Appraisers shall each determine the Fair Market Value (or, as applicable, Fair Market Rent) of the Premises or applicable portion thereof within thirty (30) days of the selection of the third appraiser. To the extent consistent with sound appraisal practices as then existing at the time of any such appraisal, and if requested by Landlord, such appraisal shall be made on a basis consistent with the basis on which the Premises or applicable portion thereof were appraised at the time of their acquisition by Landlord. Tenant shall pay the fees and expenses of any Appraiser retained pursuant to this Exhibit.

 

If either party fails to select a Appraiser within the time period set forth in the foregoing paragraph, the Appraiser selected by the other party shall alone determine the fair market value (or, as applicable, fair market rent) of the Premises or applicable portion thereof in accordance with the provisions of this Exhibit and the Fair Market Value (or Fair Market Rent) so determined shall be binding upon the parties. If the Appraisers selected by the parties are unable to agree upon a third (3rd) Appraiser within the time period set forth in the foregoing paragraph, either party shall have the right to apply at Tenant’s expense to the presiding judge of the court of original trial jurisdiction in the county in which the Premises or applicable portion thereof are located to name the third (3rd) Appraiser.

 

Within five(5) days after completion of the third (3rd) Appraiser’s appraisal, all three (3) Appraisers shall meet and a majority of the Appraisers shall attempt to determine the fair market value (or, as applicable, fair market rent) of the Premises or applicable portion thereof. If a majority are unable to determine the fair market value (or fair market rent) at such meeting, the three (3) appraisals shall be added together and their total divided by three (3). The resulting quotient shall be the Fair Market Value (or, as applicable, Fair Market Rent). If, however, either or both of the low appraisal or the high appraisal are more than ten percent (10%) lower or higher than the middle appraisal, any such lower or higher appraisal shall be disregarded. If only one (1) appraisal is disregarded, the remaining two (2) appraisals shall be added together and their total divided by two (2), and the resulting quotient shall be such Fair Market Value (or, as applicable, Fair Market Rent). If both the lower appraisal and higher appraisal are disregarded as provided herein, the middle appraisal shall be such Fair Market Value (or Fair Market Rent). In any event, the result of the foregoing appraisal process shall be final and binding.

 

The Fair Market Rent or Fair Market Value shall be determined in the local currency and shall be converted to the value of US dollars at the foreign exchange rate on the day after the Fair Market Rent is agreed to between the parties, it being understood that the Rent shall throughout the Term always be expressed in US Dollars but may be paid in local currency.

 

“Appraiser” shall mean an appraiser licensed or otherwise qualified to do business in the country(s) where the Premises or applicable portion thereof are located and who has substantial experience in performing appraisals of facilities similar to the Premises or applicable portion thereof, or, if such organizations no longer exist or certify appraisers, such successor organization or such other organization as is approved by Landlord.

 

44

 

EXHIBIT “D”

 

PERMITTED EXCEPTIONS

 

1.                                      The standard printed exceptions, conditions and exclusions from coverage contained in the standard coverage owner’s title policy then prevailing in use at the title company that consummates the sale transaction.

 

2.                                      Any matters which an accurate survey of the Premises may show.

 

3.                                      Real property taxes and assessments.

 

4.                                      Any matters shown as title exceptions in the Owner’s Policy of Title Insurance obtained by Landlord in connection with its acquisition of the Premises.

 

5.                                      Such other matters burdening the Premises which were created with the consent or knowledge of Tenant or arising out of Tenant’s acts or omissions.

 

45

 

EXHIBIT “E”

 

CERTAIN DEFINITIONS

 

For purposes of this Master Lease, the following terms and words shall have the specified meanings:

 

ENVIRONMENTAL DEFINITIONS

 

“Environmental Activities” shall mean the use, generation, transportation, handling, discharge, production, treatment, storage, release or disposal of any Hazardous Materials at any time to or from any portion of the Premises or located on or present on or under any portion of the Premises.

 

“Hazardous Materials” shall mean (a) any petroleum products and/or by-products (including any fraction thereof), flammable substances, explosives, radioactive materials, hazardous or toxic wastes, substances or materials, known carcinogens or any other materials, contaminants or pollutants as to which liability or standards of conduct are imposed under Hazardous Materials Laws, which pose a hazard to any portion of the Premises or to Persons on or about any portion of the Premises or cause any portion of the Premises to be in violation of any Hazardous Materials Laws; (b) asbestos in any form which is friable; (c) urea formaldehyde in foam insulation or any other form; (d) transformers or other equipment which contain dielectric fluid containing levels of polychlorinated biphenyls in excess of fifty (50) parts per million or any other more restrictive standard then prevailing; (e) medical wastes and biohazards; (f) radon gas; and (g) any other chemical, material or substance, exposure to which is prohibited, limited or regulated by any governmental authority because of its dangerous or deleterious properties or characteristics or would pose a hazard to the health and safety of the occupants of any portion of the Premises or the owners and/or occupants of property adjacent to or surrounding any portion of the Premises.

 

“Hazardous Materials Claims” shall mean any and all enforcement, clean-up, removal or other governmental or regulatory actions, claims or orders threatened, completed or instituted pursuant to any Hazardous Material Laws, together with all claims made or threatened by any third party against any portion of the Premises, Landlord or Tenant relating to damage, contribution, cost recovery compensation, loss or injury resulting from any Hazardous Materials.

 

“Hazardous Materials Laws” shall mean any laws, ordinances, regulations, rules having the force and effect of law, or orders relating to the environment, health and safety, Environmental Activities, Hazardous Materials, air and water quality, waste disposal and other environmental matters.

 

OTHER DEFINITIONS

 

“Affiliate” shall mean with respect to any Person, any other Person which Controls, is Controlled by or is under common Control with the first Person.

 

“Business Day” shall mean each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which national banks in the City of New York, New York, or in the municipality wherein the Facility is located are closed.

 

“CC&R’s” shall mean covenants, conditions and restrictions or similar use, maintenance or ownership obligations encumbering or binding upon the real property comprising any Facility.

 

46

 

“Control” shall mean, as applied to any Person, the possession, directly or indirectly, of the power to direct the management and policies of that Person, whether through ownership, voting control, by contract or otherwise.

 

“Consumer Price Index or CPI” shall mean the Consumer Price Index as now published by the U.S. Bureau of Labor Statistics under the caption: “United States City Average for Urban Wage Earners and Clerical Workers All Items,” or any revision or equivalent thereof hereafter published by that Bureau, or if there ceases to be any such publication, any substantially equivalent Price Index generally recognized as authoritative, designated by Landlord.

 

“Debt to Equity Ratio” shall mean the ratio of Total Liabilities to Net Worth.

 

“Medical Waste” shall mean all medical waste as defined by the laws of a Situs Country.

 

“Landlord’s Investment” shall mean, as to any particular Facility, the amount shown for such Facility on Exhibit “G” hereof.

 

“Net Worth” means with respect to any Person, the amount by which such Person’s Total Assets exceeds Total Liabilities.

 

“Person” shall mean any individual, partnership, association, corporation, limited liability company or other entity.

 

“Total Assets” means all assets of a Person determined on a consolidated basis in accordance with generally accepted accounting principles.

 

“Total Liabilities” means all liabilities of a Person (excluding deferred tax liability) determined on a consolidated basis in accordance with generally accepted accounting principles.

 

47

 

EXHIBIT “F”

 

FINANCIAL, MANAGEMENT AND REGULATORY REPORTS

 

Tenant shall keep adequate records and books of account with respect to the finances and business of Tenant generally and with respect to the Premises, in accordance with applicable generally accepted accounting principles (“GAAP”) consistently applied.

 

During the Term, at Landlord ́s request, Tenant shall deliver to Landlord, prior to one hundred fifty (150) days after the close of each fiscal year of Tenant, Guarantor or any Resulting Guarantor annual audited financial statements of Tenant (if available), Guarantor or any Resulting Guarantor, commencing with the fiscal year including the date of commencement of the Term, certified by are recognized firm of independent certified public accountants or external auditor. In the case of the Guarantor’s financials, Lessee will deliver to Lessor all Forms 10-K and 10-Q, if any, filed with the Securities and Exchange Commission (“SEC”) within 30 days after the date on which they are filed. Filing of such reports with the SEC shall be deemed compliance of this requirement. The obligation to deliver the audited and unaudited financial statements of the Guarantor may be satisfied by filing such statements with the SEC.

 

If, for whatever reason, the financial results of Tenant do not appear, or are not included, in the consolidated financial statements required to be provided to Landlord pursuant to the foregoing paragraph, then Tenant shall also deliver to Landlord Tenant’s financial statements meeting the same requirements and within the same timeframes as required for Holdings pursuant to the foregoing paragraph.

 

On or before the date that is Sixty (60) days after the end of each calendar quarter, Tenant shall deliver to Landlord quarterly profit and loss reports (if available) concerning the Business at each Facility (if available) and the combined Facilities in this Master Lease. Such reports shall be in substantially the same form as delivered by Tenant to Landlord in connection with Landlord’s acquisition of the Premises and shall contain a level of detail reasonably satisfactory to Landlord.  Such reports shall be sent via email to Landlord at alejandrobdosoretz@hotmail.com (cc: dk@marval.com) or to such other email address which Landlord shall, in writing, direct.

 

Tenant shall furnish to Landlord within ten (10) days of receipt written notice of any of the following: (i) any material violation of any federal, state, or local licensing or reimbursement certification statute or regulation, (ii) any suspension, termination or restriction placed on Tenant or any portion of the Premises or the operation of any portion of the Business which would have a material adverse effect on the operation of the Business at a Facility, and (iii) any material violation of any permit, approval or certification in connection with any portion of the Premises or any portion of the Business, by any federal, state, or local authority,

 

Tenant shall, on or before the date that is one hundred fifty  (150) days after to the beginning of each fiscal year of Holdings, provide Landlord with an annual operating budget covering the operations of Holdings for the forthcoming fiscal year. If, for whatever reason, the operating budget of Holdings would not include and cover the operations of Tenant for the forthcoming fiscal year, then Tenant, if available  shall deliver to Landlord, within one hundred fifty (150) days after the beginning of Tenant’s fiscal year, an annual operating budget covering the operations of Tenant for such fiscal year.

 

48

 

EXHIBIT “G”

 

LANDLORD ́S INVESTMENT

 

49

 

EXHIBIT H

 

IMMEDIATE REPAIRS

 

NOT APPLICABLE.

 

50

 

EXHIBIT I

EXISTING INSURANCE

 

	
Insured
    	
 
    	
Insured
    	
 
    	
Policy Number
    	
 
    	
Insured
   Asset
    	
 
    	
Insured risk
    	
 
    	
Insured amount
    	
 
    	
Term
    	
 
    	
Premium (annual)
    	
 
    
	
Vidt   Centro Médico
    	
 
    	
Federación Patronal Seguros S.A.
    	
 
    	
773287
    	
 
    	
 
    	
 
    	
Malpractice - Tort liability
    	
 
    	
$
    	
400.000,00
    	
 
    	
09/12/2014 to   09/12/2015
    	
 
    	
70.632,96
    	
 
    
	
Vidt   Centro Médico
    	
 
    	
Federación Patronal Seguros S.A.
    	
 
    	
773287 amendment 2
    	
 
    	
 
    	
 
    	
Malpractice - Tort liability
    	
 
    	
$
    	
100.000,00
    	
 
    	
20/03/2015 to   09/12/2015
    	
 
    	
11.839,18
    	
 
    
	
Vidt   Centro Médico
    	
 
    	
QBE Seguros
    	
 
    	
IC01-00-196812
    	
 
    	
Vidt 1924- Caba-General Insurance
    	
 
    	
Fire - Building Pesos 1.170.000, Fire content Pesos   715.000; theft content Pesos 5.850.-, glasses Pesos 3.900, damages caused by   water Pesos 9.000.-; Extraordinary expenses Pesos 195.000.-; recently   acquired assets Pesos 330.000.-; Improvements $45,000, civil liability   $585,000
    	
 
    	
$
    	
3.156.250,00
    	
 
    	
12/01/2015/ to   12/01/2016
    	
 
    	
23.507,27
    	
 
    
	
All amounts above are shown in Argentine pesos
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Instituto   Acevedo
    	
 
    	
SMG Seguros
    	
 
    	
503249-0
    	
 
    	
 
    	
 
    	
Malpractice - tort liability
    	
 
    	
$
    	
300.000,00
    	
 
    	
01/09/2014 to 01/09/2015
    	
 
    	
13505,5
    	
 
    
	
Instituto   Acevedo
    	
 
    	
ZURICH
    	
 
    	
5-156825
    	
 
    	
Acevedo 365-General Insurance
    	
 
    	
Fire - Building $1.700.000, Fire content $200.000;   theft content $20.000.-, glasses $40.000, ; extraordinary expenses $95.000.-;
    	
 
    	
 
    	
 
    	
08/08/2014 to   08/08/2015
    	
 
    	
9028,13
    	
 
    

 

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
debris removal $95.000.-; fire -equipment $650.000,   electronic equipment $42.000
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
All amounts above are shown in Argentine Pesos
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Clínica de Radioterapia  de Occidente
    	
 
    	
AXA SEGUROS
    	
 
    	
RNA666090000
    	
 
    	
 
    	
 
    	
Malpractice - tort liability
    	
 
    	
$
    	
Mexicans 3.300.000
    	
 
    	
25/02/2015 to   25/02/2016
    	
 
    	
$
    	
Mexicans 26.521.39
    	
 
    
	
Amounts above are shown in Mexican pesos
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Clínica de Radioterapia  de Occidente
    	
 
    	
AXA SEGUROS
    	
 
    	
ENA796150000
    	
 
    	
Patria 2073-Guadalajara-General Insurance
    	
 
    	
Fire building $12.000.000, Fire content $5.075.000;   glasses $30.000, debris removal $1.100.000.-; electronic equipment $4.745.000   civil liability $15.000.000 $Mexicans
    	
 
    	
 
    	
 
    	
12/02/2015 to 12/02/2016
    	
 
    	
$
    	
Mexicans 30.700.58
    	
 
    
	
Amounts above are shown in Mexican pesos
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
COR (Mar del Plata)
    	
 
    	
San Cristobal
    	
 
    	
09-11-01006221/4
    	
 
    	
 
    	
 
    	
Malpractice - tort liability
    	
 
    	
$
    	
350.000,00
    	
 
    	
23/11/2014   to 23/11/2015
    	
 
    	
11,258
    	
 
    
	
COR (Mar del Plata)
    	
 
    	
San Cristobal
    	
 
    	
09-07-01101411/2
    	
 
    	
Guido 2271-Mar del Plata- General Insurance
    	
 
    	
Fire building $7.000.000, Fire content $1.300.000;   glasses $10.000, damages to neighbors $200.000; electronic equipment   $150.000, general content $20000, cleaning expenses $200.000.-
    	
 
    	
 
    	
 
    	
23/11/2014   to 23/11/2015
    	
 
    	
12,664
    	
 
    
	
All amounts above are shown in Argentine pesos
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Centro Médico Irazú
    	
 
    	
Instituto Nacional Seguros (INS)
    	
 
    	
02-01-RCG-593
    	
 
    	
 
    	
 
    	
Malpractice - tort liability
    	
 
    	
USD
    	
1.000.000
    	
 
    	
20/12/14 to 20/12/15
    	
 
    	
u$s
    	
2787
    	
 
    
																				

 

52

 

	
All amounts above are shown in US Dollars
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
I.M. Dean Funes
    	
 
    	
SMG Seguros
    	
 
    	
502357
    	
 
    	
 
    	
 
    	
Malpractice - tort liability
    	
 
    	
$
    	
600.000,00
    	
 
    	
28/11/2014   to 28/11/2015
    	
 
    	
26152,72
    	
 
    
	
I.M. Dean Funes
    	
 
    	
ZURICH
    	
 
    	
156058
    	
 
    	
Dean Funes 2869-Cordoba- General Insurance
    	
 
    	
Fire building $12.000.000, Fire content $5.000.000;   glasses $10.000, damage to neighbors $1.500.000; general civil liability   $1.000.000, debris removal $850.000, extraordinary expenses $850.000.-
    	
 
    	
 
    	
 
    	
04/08/2014   to 04/08/2015
    	
 
    	
10.936.48
    	
 
    
																	

 

Amounts above are shown in Argentine pesos

 

Insurance in El Salvador is in process of being purchased- General Insurance policies are being purchased for Vidt 1923 and 1918/20 in Buenos Aires.

 

53

 

SCHEDULE 1

 

Schedule of Rentable Square Footage

 

	
Site
   No.
    	
 
    	
Location
    	
 
    	
Landlord
    	
 
    	
Tenant
    	
 
    	
Total Rentable Square
   Footage
    	
 
    
	
1
    	
 
    	
Vidt 1923, PB “A”, Buenos Aires
    	
 
    	
Alejandro B. Dosoretz
    	
 
    	
Vidt Centro Medico S.R.L.
    	
 
    	
645.835
    	
 
    
	
Section 1.   2
    	
 
    	
Vidt 1924/32, Buenos Aires
    	
 
    	
Inversix S.A.
    	
 
    	
Vidt Centro Medico S.R.L.
    	
 
    	
4,846.759
    	
 
    
	
Section 2.   3
    	
 
    	
Vidt 1918/20, Buenos Aires
    	
 
    	
Inversix S.A.
    	
 
    	
Vidt Centro Medico S.R.L.
    	
 
    	
1,937.504
    	
 
    
	
Section 3.   4
    	
 
    	
Dean Funes 2869 Barrio Alto Alberdi, Córdoba
    	
 
    	
Inversix S.A.
    	
 
    	
Instituto Médico Dean Funes S.A.
    	
 
    	
12,378.500
    	
 
    
	
5
    	
 
    	
Guido 2271, Mar del Plata
    	
 
    	
Emprendimientos Inmobiliarios de la Costa S.A.
    	
 
    	
Centro de Radioterapia y Oncología S.A.
    	
 
    	
8,072.932
    	
 
    
	
Section 4.   6
    	
 
    	
Acevedo 365, Lomas de Zamora
    	
 
    	
Instituto Acevedo S.A.
    	
 
    	
Vidt Centro Médico S.R.L. / Mevaterapia S.A.
    	
 
    	
3,229.173
    	
 
    
	
Section 5.   7
    	
 
    	
75m Oeste 25m Sur de las Bodegas de la Imprenta   Nacional, La Uruca, San Jose
    	
 
    	
Antila Forte S.A. (Costa Rica)
    	
 
    	
Centro Medico Irazu S.A. (Costa Rica)
    	
 
    	
9,689.519
    	
 
    
	
Section 6.   8
    	
 
    	
100m norte del almacén Font, La Uruca, San Jose
    	
 
    	
Antila Forte S.A. (Costa Rica)
    	
 
    	
Centro Medico Irazu S.A. (Costa Rica)
    	
 
    	
5,629.525
    	
 
    
	
Section 7.   9
    	
 
    	
Calle nueva N° 1 casa # 38-23 Colonia Escalón, San   Salvador
    	
 
    	
Inversiones Médicas Globales S.A. (El Salvador)
    	
 
    	
Servicios y Soluciones Médicas S.A. (El Salvador)
    	
 
    	
11,302.11
    	
 
    
	
Section 8.   1
    	
 
    	
Av. Patria 2073 Colonia Agraria, Guadalajara
    	
 
    	
Croin S.A. de C.V. (México)
    	
 
    	
Clínica de Radioterapia de Occidente, S.A. de C.V.
    	
 
    	
9,149.323
    	
 
    

 

 

SCHEDULE 9.2

 

Schedule of Bank Debts

 

	
COR (Mar del Plata)
    	
 
    	
 
    
	
Instituto Acevedo
    	
 
    	
 
    
	
Instituto Médico Dean Funes de Córdoba
    	
 
    	
No bank debts are   recorded
    
	
Clínica de Radioterapia de Occidente
    	
 
    	
 
    
	
Servicios y Soluciones Médicas del Salvador
    	
 
    	
 
    

 

	
 
    	
 
    	
Bank
    	
 
    	
Debt balance
    	
 
    	
Guarantee
    	
 
    
	
Centro   Médico de Radioterapia Irazú
    	
 
    	
Improsa Bank; operation # I-1086
    	
 
    	
USD
    	
177.987.86
    	
 
    	
Investment certificate   #31740 for USD 190.200 with due date May 2016
    	
 
    
									

 

	
 
    	
 
    	
Initiation
   date
    	
 
    	
Due date
    	
 
    	
Loan
    	
 
    	
Rate
    	
 
    	
Capital (pesos)
    	
 
    	
Instalment
    	
 
    	
Total
    	
 
    	
Guarantee
    	
 
    
	
 
    	
 
    	
12/08/2013
    	
 
    	
09/08/2015
    	
 
    	
HSBC Bank 5
    	
 
    	
27.50
    	
%
    	
3,000,000.00
    	
 
    	
-2,683,064.11
    	
 
    	
$
    	
316,935.89
    	
 
    	
Invoices assigned to a Trust   Fund
    	
 
    
	
Vidt Centro Medic
    	
 
    	
27/01/2014
    	
 
    	
23/01/2016
    	
 
    	
HSBC Bank 7
    	
 
    	
35.00
    	
%
    	
3,000,000.00
    	
 
    	
-1,904,094.20
    	
 
    	
$
    	
1,095,905.80
    	
 
    	
Invoices assigned to a Trust   Fund
    	
 
    
	
 
    	
 
    	
27/05/2015
    	
 
    	
27/11/2015
    	
 
    	
ICBC Bank 5 Renovation 4
    	
 
    	
30.40
    	
%
    	
2,000,000.00
    	
 
    	
-333,333.33
    	
 
    	
$
    	
1,666,666.67
    	
 
    	
Ceditrin
    	
 
    
	
 
    	
 
    	
30/03/2015
    	
 
    	
30/11/2015
    	
 
    	
BBVA Francés Bank 54
    	
 
    	
30.00
    	
%
    	
2,300,000.00
    	
 
    	
-862,500.00
    	
 
    	
$
    	
1,437,500.00
    	
 
    	
Sola Firma
    	
 
    

 

55

 

EXHIBIT “J”

 

	
 
    	
 
    	
Coverage
   Amount
    	
 
    	
Coverage
   Currency
    	
 
    	
Coverage
   Amount
   (USD)
    	
 
    	
Policy
   Date
    	
 
    
	
·       Vidt   Centro Medico S.R.L.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a) Fire and Extended Coverage   in an amount equal to one hundred percent (100%) of the full replacement cost   of the Facility;
    	
 
    	
2.340.000,00
    	
 
    	
ARS
    	
 
    	
255.737,70
    	
 
    	
12-Jan-2015
    	
 
    
	
(b) Commercial General Public Liability   Coverage affording the parties protection of not less than   One Million Dollars ($1,000,000) per occurrence and Three Million Dollars   ($3,000,000) in the aggregate;
    	
 
    	
6.300.000,00
    	
 
    	
ARS
    	
 
    	
688.524,59
    	
 
    	
12-Jan-2015
    	
 
    
	
(c) Professional Liability Coverage   in a minimum amount of One Million Dollars ($1,000,000) per occurrence and   Three Million Dollars ($3,000,000) in the aggregate;
    	
 
    	
1.000.000,00
    	
 
    	
ARS
    	
 
    	
109.289,62
    	
 
    	
9-Dec-2014
    	
 
    
	
(d) Worker’s Compensation Coverage,   or similar coverage in the relevant jurisdiction, with respect to each   Facility for injuries sustained by Tenant’s employees in the course of their   employment and otherwise consistent with all applicable legal requirements;
    	
 
    	
—
    	
 
    	
ARS
    	
 
    	
—
    	
 
    	
 
    	
 
    
	
(e) Business Interruption and Extra Expense   Coverage with respect to each Facility for loss of rental   value for a period not less than one (1) year; and
    	
 
    	
—
    	
 
    	
ARS
    	
 
    	
—
    	
 
    	
 
    	
 
    
	
(f) Deductibles/Self-Insured Retentions for   the above policies shall not be greater than One Hundred Twenty Five Thousand   Dollars ($125,000.00).
    	
 
    	
100.000,00
    	
 
    	
ARS
    	
 
    	
10.928,96
    	
 
    	
 
    	
 
    
	
·       Instituto   Médico Dean Funes S.A.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a) Fire and Extended Coverage   in an amount equal to one hundred percent (100%) of the full replacement cost   of the Facility;
    	
 
    	
12.000.000,00
    	
 
    	
ARS
    	
 
    	
1.311.475,41
    	
 
    	
4-Aug-2014
    	
 
    
	
(b) Commercial General Public Liability   Coverage affording the parties protection of not less than   One Million Dollars ($1,000,000) per occurrence and Three Million Dollars   ($3,000,000) in the aggregate;
    	
 
    	
21.210.000,00
    	
 
    	
ARS
    	
 
    	
2.318.032,79
    	
 
    	
4-Aug-2014
    	
 
    
	
(c) Professional Liability Coverage   in a minimum amount of One Million Dollars ($1,000,000) per occurrence and   Three Million Dollars ($3,000,000) in the aggregate;
    	
 
    	
1.350.000,00
    	
 
    	
ARS
    	
 
    	
147.540,98
    	
 
    	
28-Nov-2014
    	
 
    
	
(d) Worker’s Compensation Coverage,   or similar coverage in the relevant jurisdiction, with respect to each   Facility for injuries sustained by Tenant’s employees in the course of their 
    	
 
    	
—
    	
 
    	
ARS
    	
 
    	
—
    	
 
    	
 
    	
 
    

 

 

	
employment and otherwise consistent with all applicable   legal requirements;
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(e) Business Interruption and Extra Expense   Coverage with respect to each Facility for loss of rental   value for a period not less than one (1) year; and
    	
 
    	
—
    	
 
    	
ARS
    	
 
    	
—
    	
 
    	
 
    	
 
    
	
(f) Deductibles/Self-Insured Retentions for   the above policies shall not be greater than One Hundred Twenty Five Thousand   Dollars ($125,000.00).
    	
 
    	
135.000,00
    	
 
    	
ARS
    	
 
    	
14.754,10
    	
 
    	
 
    	
 
    
	
·       Centro   de Oncología y Radioterapia de Mar del Plata, S.R.L.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a) Fire and Extended Coverage   in an amount equal to one hundred percent (100%) of the full replacement cost   of the Facility;
    	
 
    	
7.000.000,00
    	
 
    	
ARS
    	
 
    	
765.027,32
    	
 
    	
23-Nov-2014
    	
 
    
	
(b) Commercial General Public Liability   Coverage affording the parties protection of not less than   One Million Dollars ($1,000,000) per occurrence and Three Million Dollars   ($3,000,000) in the aggregate;
    	
 
    	
8.890.000,00
    	
 
    	
ARS
    	
 
    	
971.584,70
    	
 
    	
23-Nov-2014
    	
 
    
	
(c) Professional Liability Coverage   in a minimum amount of One Million Dollars ($1,000,000) per occurrence and   Three Million Dollars ($3,000,000) in the aggregate;
    	
 
    	
525.000,00
    	
 
    	
ARS
    	
 
    	
57.377,05
    	
 
    	
23-Nov-2014
    	
 
    
	
(d) Worker’s Compensation Coverage,   or similar coverage in the relevant jurisdiction, with respect to each   Facility for injuries sustained by Tenant’s employees in the course of their   employment and otherwise consistent with all applicable legal requirements;
    	
 
    	
—
    	
 
    	
ARS
    	
 
    	
—
    	
 
    	
 
    	
 
    
	
(e) Business Interruption and Extra Expense   Coverage with respect to each Facility for loss of rental   value for a period not less than one (1) year; and
    	
 
    	
—
    	
 
    	
ARS
    	
 
    	
—
    	
 
    	
 
    	
 
    
	
(f) Deductibles/Self-Insured Retentions for   the above policies shall not be greater than One Hundred Twenty Five Thousand   Dollars ($125,000.00).
    	
 
    	
9.000,00
    	
 
    	
ARS
    	
 
    	
983,61
    	
 
    	
 
    	
 
    
	
·       Centro   Medico de Radioterapia Irazu, S.A.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a) Fire and Extended Coverage   in an amount equal to one hundred percent (100%) of the full replacement cost   of the Facility;
    	
 
    	
1.000.000,00
    	
 
    	
USD
    	
 
    	
1.000.000,00
    	
 
    	
20-Dec-2014
    	
 
    
	
(b) Commercial General Public Liability   Coverage affording the parties protection of not less than   One Million Dollars ($1,000,000) per occurrence and Three Million Dollars   ($3,000,000) in the aggregate;
    	
 
    	
1.000.000,00
    	
 
    	
USD
    	
 
    	
1.000.000,00
    	
 
    	
20-Dec-2014
    	
 
    
	
(c) Professional Liability Coverage   in a minimum amount of One Million Dollars 
    	
 
    	
1.000.000,00
    	
 
    	
USD
    	
 
    	
1.000.000,00
    	
 
    	
20-Dec-2014
    	
 
    

 

 

57

 

	
($1,000,000) per occurrence and Three Million   Dollars ($3,000,000) in the aggregate;
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(d) Worker’s Compensation Coverage,   or similar coverage in the relevant jurisdiction, with respect to each   Facility for injuries sustained by Tenant’s employees in the course of their employment   and otherwise consistent with all applicable legal requirements;
    	
 
    	
—
    	
 
    	
USD
    	
 
    	
—
    	
 
    	
 
    	
 
    
	
(e) Business Interruption and Extra Expense   Coverage with respect to each Facility for loss of rental   value for a period not less than one (1) year; and
    	
 
    	
—
    	
 
    	
USD
    	
 
    	
—
    	
 
    	
 
    	
 
    
	
(f) Deductibles/Self-Insured Retentions for   the above policies shall not be greater than One Hundred Twenty Five Thousand   Dollars ($125,000.00).
    	
 
    	
—
    	
 
    	
USD
    	
 
    	
—
    	
 
    	
 
    	
 
    
	
·       Servicios   y Soluciones Medicas, S.A.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a) Fire and Extended Coverage   in an amount equal to one hundred percent (100%) of the full replacement cost   of the Facility;
    	
 
    	
1.982.000,00
    	
 
    	
USD
    	
 
    	
1.982.000,00
    	
 
    	
20-Jul-2015
    	
 
    
	
(b) Commercial General Public Liability   Coverage affording the parties protection of not less than   One Million Dollars ($1,000,000) per occurrence and Three Million Dollars   ($3,000,000) in the aggregate;
    	
 
    	
1.982.000,00
    	
 
    	
USD
    	
 
    	
1.982.000,00
    	
 
    	
20-Jul-2015
    	
 
    
	
(c) Professional Liability Coverage   in a minimum amount of One Million Dollars ($1,000,000) per occurrence and   Three Million Dollars ($3,000,000) in the aggregate;
    	
 
    	
250.000,00
    	
 
    	
USD
    	
 
    	
250.000,00
    	
 
    	
20-Jul-2015
    	
 
    
	
(d) Worker’s Compensation Coverage,   or similar coverage in the relevant jurisdiction, with respect to each   Facility for injuries sustained by Tenant’s employees in the course of their   employment and otherwise consistent with all applicable legal requirements;
    	
 
    	
—
    	
 
    	
USD
    	
 
    	
—
    	
 
    	
 
    	
 
    
	
(e) Business Interruption and Extra Expense   Coverage with respect to each Facility for loss of rental   value for a period not less than one (1) year; and
    	
 
    	
240.000,00
    	
 
    	
USD
    	
 
    	
240.000,00
    	
 
    	
 
    	
 
    
	
(f) Deductibles/Self-Insured Retentions for   the above policies shall not be greater than One Hundred Twenty Five Thousand   Dollars ($125,000.00).
    	
 
    	
25.000,00
    	
 
    	
USD
    	
 
    	
25.000,00
    	
 
    	
 
    	
 
    
	
·       Clínica   de Radioterapia de Occidente, S.A. de C.V.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a) Fire and Extended Coverage   in an amount equal to one hundred percent (100%) of the full replacement cost   of the Facility;
    	
 
    	
12.000.000,00
    	
 
    	
MXN
    	
 
    	
751.408,89
    	
 
    	
12-Feb-2015
    	
 
    
	
(b) Commercial General Public Liability 
    	
 
    	
37.000.000,00
    	
 
    	
MXN
    	
 
    	
2.316.844,08
    	
 
    	
12-Feb-2015
    	
 
    

 

58

 

	
Coverage affording the parties   protection of not less than One Million Dollars ($1,000,000) per occurrence   and Three Million Dollars ($3,000,000) in the aggregate;
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c) Professional Liability Coverage   in a minimum amount of One Million Dollars ($1,000,000) per occurrence and   Three Million Dollars ($3,000,000) in the aggregate;
    	
 
    	
3.300.000,00
    	
 
    	
MXN
    	
 
    	
206.637,45
    	
 
    	
25 feb 2015
    	
 
    
	
(d) Worker’s Compensation Coverage,   or similar coverage in the relevant jurisdiction, with respect to each   Facility for injuries sustained by Tenant’s employees in the course of their   employment and otherwise consistent with all applicable legal requirements;
    	
 
    	
—
    	
 
    	
MXN
    	
 
    	
—
    	
 
    	
 
    	
 
    
	
(e) Business Interruption and Extra Expense   Coverage with respect to each Facility for loss of rental   value for a period not less than one (1) year; and
    	
 
    	
—
    	
 
    	
MXN
    	
 
    	
—
    	
 
    	
 
    	
 
    
	
(f) Deductibles/Self-Insured Retentions for   the above policies shall not be greater than One Hundred Twenty Five Thousand   Dollars ($125,000.00).
    	
 
    	
—
    	
 
    	
MXN
    	
 
    	
—
    	
 
    	
 
    	
 
    

 

59EX-4.11

  

Exhibit 4.11 
  

 
  

 
 SunEdison, Inc.

 (Company) 
 Computershare
Trust Company, National Association 
 (Trustee) 

2.25% Convertible Senior Notes due 20[    ] 

INDENTURE 
 Dated as of
[                    ], 2015 
  

 
  

 
  
  

 CROSS-REFERENCE TABLE* 

 

			
	 Trust Indenture
 Act
Section
	  	Indenture
Section
	 310 (a)(1)
	  	
	        (a)(2)
	  	
	        (a)(3)
	  	
	        (a)(4)
	  	
	        (a)(5)
	  	
	        (b)
	  	
	        (c)
	  	
	 311 (a)
	  	
	        (b)
	  	
	        (c)
	  	
	 312 (a)
	  	
	        (b)
	  	
	        (c)
	  	
	 313 (a)
	  	
	        (b)(1)
	  	
	        (b)(2)
	  	
	        (c)
	  	
	        (d)
	  	
	 314 (a)
	  	
	        (b)
	  	
	        (c)(1)
	  	
	        (c)(2)
	  	
	        (c)(3)
	  	
	        (d)
	  	
	        (e)
	  	
	        (f)
	  	
	 315 (a)
	  	
	        (b)
	  	
	        (c)
	  	
	        (d)
	  	
	        (e)
	  	
	 316 (a) (last sentence)
	  	
	        (a)(1)(A)
	  	
	        (a)(1)(B)
	  	
	        (a)(2)
	  	
	        (b)
	  	
	        (c)
	  	
	 317 (a)(1)
	  	
	        (a)(2)
	  	
	        (b)
	  	
	 318 (a)
	  	
	        (b)
	  	
	        (c)
	  	

 N.A. means not applicable. 

	*	This Cross Reference Table is not part of this Indenture. 

							
	 ARTICLE 1. DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	1	  
			
	 Section 1.01
	 	Definitions	  	 	1	  
	 Section 1.02
	 	References to Interest	  	 	10	  
	 Section 1.03
	 	Acts of Holders	  	 	10	  
		
	 ARTICLE 2. THE NOTES
	  	 	12	  
			
	 Section 2.01
	 	Title and Terms; Payments	  	 	12	  
	 Section 2.02
	 	Ranking	  	 	12	  
	 Section 2.03
	 	Denominations	  	 	12	  
	 Section 2.04
	 	Execution, Authentication, Delivery and Dating	  	 	12	  
	 Section 2.05
	 	Temporary Notes	  	 	13	  
	 Section 2.06
	 	Registration; Registration of Transfer and Exchange	  	 	13	  
	 Section 2.07
	 	Reserved	  	 	14	  
	 Section 2.08
	 	Reserved	  	 	14	  
	 Section 2.09
	 	Mutilated, Destroyed, Lost and Stolen Notes	  	 	14	  
	 Section 2.10
	 	Persons Deemed Owners	  	 	15	  
	 Section 2.11
	 	Transfer and Exchange	  	 	15	  
	 Section 2.12
	 	Purchase of Notes; Cancellation	  	 	17	  
	 Section 2.13
	 	CUSIP Numbers	  	 	18	  
	 Section 2.14
	 	Payment and Computation of Interest	  	 	18	  
		
	 ARTICLE 3. REPURCHASE AT THE OPTION OF THE HOLDERS
	  	 	18	  
			
	 Section 3.01
	 	Purchase at Option of Holders upon a Fundamental Change	  	 	18	  
	 Section 3.02
	 	Fundamental Change Company Notice	  	 	19	  
	 Section 3.03
	 	Repurchase Procedures	  	 	20	  
	 Section 3.04
	 	Effect of Fundamental Change Purchase Notice	  	 	20	  
	 Section 3.05
	 	Withdrawal of Fundamental Change Purchase Notice	  	 	20	  
	 Section 3.06
	 	Deposit of Fundamental Change Purchase Price	  	 	21	  
	 Section 3.07
	 	Notes Purchased in Whole or in Part	  	 	21	  
	 Section 3.08
	 	Covenant To Comply with Applicable Laws upon Purchase of Notes	  	 	21	  
	 Section 3.09
	 	Repayment to the Company	  	 	21	  
		
	 ARTICLE 4. CONVERSION
	  	 	21	  
			
	 Section 4.01
	 	Right To Convert	  	 	21	  
	 Section 4.02
	 	Conversion Procedures	  	 	24	  
	 Section 4.03
	 	Settlement Upon Conversion	  	 	25	  
	 Section 4.04
	 	Adjustment of Conversion Rate	  	 	28	  
	 Section 4.05
	 	Discretionary and Voluntary Adjustments	  	 	35	  
	 Section 4.06
	 	Adjustment to Conversion Rate Upon Conversion in Connection with a Make-Whole Fundamental Change	  	 	36	  
	 Section 4.07
	 	Effect of Recapitalization, Reclassification, Consolidation, Merger or Sale	  	 	38	  
	 Section 4.08
	 	Certain Covenants	  	 	39	  
	 Section 4.09
	 	Responsibility of Trustee	  	 	39	  
	 Section 4.10
	 	Notice of Adjustment to the Trustee	  	 	39	  
	 Section 4.11
	 	Notice to Holders	  	 	40	  
		
	 ARTICLE 5. COVENANTS
	  	 	41	  
			
	 Section 5.01
	 	Payment of Principal and Interest and the Fundamental Change Purchase Price	  	 	41	  
	 Section 5.02
	 	Maintenance of Office or Agency	  	 	41	  
	 Section 5.03
	 	Provisions as to Paying Agent	  	 	41	  
	 Section 5.04
	 	Reports	  	 	42	  

  
 i 

							
	 Section 5.05
	 	Statements as to Defaults	  	 	43	  
	 Section 5.06
	 	Additional Interest Notice	  	 	43	  
	 Section 5.07
	 	Compliance Certificate and Opinions of Counsel	  	 	43	  
	 Section 5.08
	 	Reserved	  	 	43	  
	 Section 5.09
	 	Corporate Existence	  	 	44	  
	 Section 5.10
	 	Restriction on Resales	  	 	44	  
	 Section 5.11
	 	Further Instruments and Acts	  	 	44	  
	 Section 5.12
	 	Par Value Limitation	  	 	44	  
	 Section 5.13
	 	Company to Furnish Trustee Names and Addresses of Holders	  	 	44	  
		
	 ARTICLE 6. REMEDIES
	  	 	44	  
			
	 Section 6.01
	 	Events of Default	  	 	44	  
	 Section 6.02
	 	Acceleration; Rescission and Annulment	  	 	45	  
	 Section 6.03
	 	Additional Interest	  	 	46	  
	 Section 6.04
	 	Waiver of Past Defaults	  	 	47	  
	 Section 6.05
	 	Control by Majority	  	 	47	  
	 Section 6.06
	 	Limitation on Suits	  	 	47	  
	 Section 6.07
	 	Rights of Holders to Receive Payment and to Convert	  	 	47	  
	 Section 6.08
	 	Collection of Indebtedness; Suit for Enforcement by Trustee	  	 	47	  
	 Section 6.09
	 	Trustee May Enforce Claims Without Possession of Notes	  	 	47	  
	 Section 6.10
	 	Trustee May File Proofs of Claim	  	 	48	  
	 Section 6.11
	 	Restoration of Rights and Remedies	  	 	48	  
	 Section 6.12
	 	Rights and Remedies Cumulative	  	 	48	  
	 Section 6.13
	 	Delay or Omission Not a Waiver	  	 	48	  
	 Section 6.14
	 	Priorities	  	 	48	  
	 Section 6.15
	 	Undertaking for Costs	  	 	49	  
	 Section 6.16
	 	Waiver of Stay, Extension and Usury Laws	  	 	49	  
	 Section 6.17
	 	Notices from the Trustee	  	 	49	  
		
	 ARTICLE 7. SATISFACTION AND DISCHARGE
	  	 	49	  
			
	 Section 7.01
	 	Discharge of Liability on Notes	  	 	49	  
	 Section 7.02
	 	Deposited Monies to Be Held in Trust by Trustee	  	 	50	  
	 Section 7.03
	 	Paying Agent to Repay Monies Held	  	 	50	  
	 Section 7.04
	 	Return of Unclaimed Monies	  	 	50	  
	 Section 7.05
	 	Reinstatement	  	 	50	  
		
	 ARTICLE 8. SUPPLEMENTAL INDENTURES
	  	 	51	  
			
	 Section 8.01
	 	Supplemental Indentures Without Consent of Holders	  	 	51	  
	 Section 8.02
	 	Supplemental Indentures With Consent of Holders	  	 	51	  
	 Section 8.03
	 	Notice of Amendment or Supplement	  	 	52	  
	 Section 8.04
	 	Trustee to Sign Amendments, Etc.	  	 	52	  
	 Section 8.05
	 	Conformity With Trust Indenture Act	  	 	52	  
		
	 ARTICLE 9. SUCCESSOR COMPANY
	  	 	52	  
			
	 Section 9.01
	 	Company May Consolidate, Etc. on Certain Terms	  	 	52	  
	 Section 9.02
	 	Successor Corporation to Be Substituted	  	 	53	  
	 Section 9.03
	 	Officer’s Certificate and Opinion of Counsel to Be Given to Trustee	  	 	53	  
		
	 ARTICLE 10. NO REDEMPTION
	  	 	53	  
			
	 Section 10.01
	 	No Redemption	  	 	53	  

  
 ii 

							
	 ARTICLE 11. THE TRUSTEE
	  	 	54	  
			
	 Section 11.01
	 	Duties and Responsibilities of Trustee	  	 	54	  
	 Section 11.02
	 	[RESERVED]	  	 	55	  
	 Section 11.03
	 	Rights of the Trustee	  	 	55	  
	 Section 11.04
	 	Trustee’s Disclaimer	  	 	56	  
	 Section 11.05
	 	Trustee or Agents May Own Notes	  	 	56	  
	 Section 11.06
	 	Monies to be Held in Trust	  	 	56	  
	 Section 11.07
	 	Compensation and Expenses of Trustee	  	 	56	  
	 Section 11.08
	 	Officer’s Certificate as Evidence	  	 	57	  
	 Section 11.09
	 	Conflicting Interests of Trustee	  	 	57	  
	 Section 11.10
	 	Eligibility of Trustee	  	 	57	  
	 Section 11.11
	 	Resignation or Removal of Trustee	  	 	57	  
	 Section 11.12
	 	Acceptance by Successor Trustee	  	 	58	  
	 Section 11.13
	 	Succession by Merger, Etc.	  	 	59	  
	 Section 11.14
	 	Preferential Collection of Claims	  	 	59	  
	 Section 11.15
	 	Trustee’s Application for Instructions from the Company	  	 	59	  
	 Section 11.16
	 	Reports by Trustee to Holders	  	 	59	  
		
	 ARTICLE 12. MISCELLANEOUS
	  	 	60	  
			
	 Section 12.01
	 	Effect on Successors and Assigns	  	 	60	  
	 Section 12.02
	 	Governing Law	  	 	60	  
	 Section 12.03
	 	No Note Interest Created	  	 	60	  
	 Section 12.04
	 	Trust Indenture Act	  	 	60	  
	 Section 12.05
	 	Benefits of Indenture	  	 	60	  
	 Section 12.06
	 	Calculations	  	 	60	  
	 Section 12.07
	 	Execution in Counterparts	  	 	60	  
	 Section 12.08
	 	Notices	  	 	61	  
	 Section 12.09
	 	No Recourse Against Others	  	 	61	  
	 Section 12.10
	 	Tax Withholding	  	 	61	  
	 Section 12.11
	 	Waiver of Jury Trial	  	 	62	  
	 Section 12.12
	 	U.S.A. Patriot Act	  	 	62	  
	 Section 12.13
	 	Force Majeure	  	 	62	  
	 Section 12.14
	 	Submission to Jurisdiction	  	 	62	  

  
 iii 

 INDENTURE, dated as of
[                    ], 2015, between SunEdison, Inc., a Delaware corporation, as issuer (the “Company”), and Computershare Trust
Company, National Association, as trustee, conversion agent, registrar, bid solicitation agent and paying agent (in such capacities, the “Trustee”, “Conversion Agent”, “Registrar”, “Bid
Solicitation Agent” and “Paying Agent”, respectively). 
 RECITALS OF THE COMPANY 

WHEREAS, the Company has duly authorized the creation of an issue of the Company’s 2.25% Convertible Senior Notes due
20[    ] (the “Notes”), having the terms, tenor, amount and other provisions hereinafter set forth, and, to provide therefor, has duly authorized the execution and delivery of this Indenture; and 

WHEREAS, all things necessary to make the Notes, when duly executed by the Company and authenticated and delivered hereunder and duly issued
by the Company, the legal, valid and binding obligations of the Company, in accordance with the terms of the Notes and this Indenture, have been done and performed, and the execution of this Indenture and the issue hereunder of the Notes have in all
respects been duly authorized; 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH, for and in consideration of the premises and the purchases of
the Notes by the Holders thereof, it is mutually agreed, for the benefit of each other and the equal and proportionate benefit of all Holders (as hereinafter defined), as follows: 

ARTICLE 1. 
 DEFINITIONS AND OTHER
PROVISIONS OF GENERAL APPLICATION 
 Section 1.01 Definitions and References. The terms defined in this Section 1.01
(except as herein otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section 1.01. The words
“herein”, “hereof”, “hereunder” and words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other Subdivision. The word “or” is not exclusive and the word
“including” means including without limitation. The terms defined in this Article include the plural as well as the singular. References to any Article, Section, Schedule or Exhibit are to this Indenture except as herein otherwise
expressly provided.  
 “Act” has the meaning specified in Section 1.03. 

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

“Additional Notes” means any Notes (other than the Initial Notes) issued under this Indenture in accordance with
Section 2.01, with the same terms as the Initial Notes except to the extent permitted otherwise under Section 2.01. 

“Additional Shares” has the meaning specified in Section 4.06. 

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

“Agent Members” has the meaning specified in Section 2.06(b). 

“Agent” means any Paying Agent, Registrar, Conversion Agent or any other agent appointed pursuant to this Indenture. 

  
 1 

 “Applicable Procedures” means, with respect to any matter at any time, the
policies and procedures of a Depositary, if any, that are applicable to such matter at such time. 
 “Authenticating Agent”
means any Person authorized by the Trustee to act on behalf of the Trustee to authenticate Notes. 
 “Bid Solicitation
Agent” means any agent the Company may appoint in the future (which may be the Company and initially shall be the Company) to solicit market bid quotations for the Notes as may be required pursuant to Section 4.01(b)(ii). 

“Board of Directors” means either the board of directors of the Company or any duly authorized committee of that board. 

“Board Resolution” when used with reference to the Company means a copy of a resolution certified by the Secretary or an
Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

“Business Day” means any day other than a Saturday, a Sunday or a day on which state or federally chartered banking
institutions in New York, New York are not required to be open. 
 “Capital Stock” means, for any Person, any and all
shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) the equity of such Person, but excluding any debt securities convertible into such equity. 

“Change in Control” means an event that will be deemed to have occurred at the time, after the first date of original
issuance for the Initial Notes, any of the following occurs: 
 (1) any “person” or “group” (within the
meaning of Section 13(d) of the Exchange Act), other than the Company or its Subsidiaries, or the Company’s or its Subsidiaries’ employee benefit plans, files a Schedule TO or any schedule, form or report under the Exchange Act
disclosing that such person or group has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of the Company’s Common Equity representing 50% or more of the total voting power of the
Company’s Common Equity, or has the power, directly or indirectly, to elect a majority of the members of the Company’s board of directors; 

(2) the Company consolidates with, enters into a binding share exchange, merger or similar transaction with or into another
person other than one or more of its subsidiaries or Company sells, assigns, conveys, transfers, leases or otherwise disposes of all or substantially all of the consolidated assets of the Company, or any Person consolidates with, or merges with or
into, the Company; provided, that any merger, binding share exchange, consolidation or similar transaction pursuant to which the Persons that “beneficially owned,” (as defined in Rule 13d-3 under the Exchange Act) directly or
indirectly, the Company’s Common Equity immediately prior to such transaction “beneficially own,” (as defined in Rule 13d-3 under the Exchange Act) directly or indirectly, the Common Equity representing at least a majority of the
total voting power of all outstanding classes of the Common Equity of the surviving or transferee Person and such holders’ proportional voting power immediately after such transaction vis-à-vis each other with respect to the securities
they receive in such transaction will be in substantially the same proportions as their respective voting power vis-à-vis each other immediately prior to such transaction will not constitute a “Change in Control”; or 

(3) the holders of the Company’s Capital Stock approve any plan or proposal for the liquidation or dissolution of the
Company (whether or not otherwise in compliance with this Indenture). 
 provided that, notwithstanding the foregoing, a “Change in
Control” will not be deemed to have occurred if at least 90% of the consideration paid for the Common Stock in a transaction or transactions described under 

  
 2 

 
clauses (1) or (2) of this definition of “Change in Control” above (excluding cash payments for any fractional shares and cash payments made pursuant to dissenters’
appraisal rights) consists of shares of common stock traded on a Permitted Exchange, or will be so traded immediately following such transaction (“Publicly Traded Securities”), and as a result therefrom, such consideration
becomes the Reference Property for the Notes; provided, further, that, notwithstanding anything to the contrary in the foregoing, to the extent the Company continues to own at least 51% of the voting power of any of the Company’s Yieldco
Subsidiaries (including TerraForm Power) the stock of which has been offered to the public, the offering to the public (and any subsequent dispositions of the Company’s interests in such entity) will not constitute a “Change in
Control”. 
 If any transaction in which the Common Stock is replaced by the Reference Property comprised of securities of another
entity occurs, following completion of any related Make-Whole Fundamental Change Period and any related Fundamental Change Purchase Date, references to the Company in this definition of “Change in Control” will apply to such other entity
instead. 
 “Clause A Distribution” has the meaning specified in Section 4.04(c). 

“Clause B Distribution” has the meaning specified in Section 4.04(c). 

“Clause C Distribution” has the meaning specified in Section 4.04(c). 

“Close of Business” means 5:00 p.m., New York City time. 

“Closing Sale Price” of the Common Stock for any day means the closing sale price per share (or, if no closing sale price is
reported, the average of the last bid and last ask prices or, if more than one in either case, the average of the average last bid and the average last ask prices) at 4:00 p.m. New York City time on that day as reported in composite transactions for
the Exchange, or if the Common Stock is not listed on the Exchange, the principal U.S. national or regional securities exchange on which the Common Stock is listed for trading or, if the Common Stock is not listed on a U.S. national or regional
securities exchange, as reported by OTC Markets Group Inc. at 4:00 p.m. New York City time on such date (or, in either case, the then-standard closing time for regular trading on the relevant exchange or trading system). If the closing sale price of
the Common Stock is not so reported, the “Closing Sale Price” will be the average of the mid-point of the last bid and last ask prices for the Common Stock on the relevant date from each of at least three nationally recognized independent
investment banking firms selected by the Company for this purpose. 
 “Commission” means the U.S. Securities and Exchange
Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then
the body performing such duties at such time. 
 “Common Equity” of any Person means the Capital Stock of such Person that
is generally entitled (a) to vote in the election of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or others that will
control the management or policies of such Person. 
 “Common Stock” means the shares of common stock, par value $0.01 per
share, of the Company authorized at the date of this instrument as originally executed or shares of any class or classes of common stock resulting from any reclassification or reclassifications thereof; provided, however, that if at
any time there shall be more than one such resulting class, the shares so issuable on conversion of Notes shall include shares of all such classes, and the shares of each such class then so issuable shall be substantially in the proportion which the
total number of shares of such class resulting from all such reclassifications bears to the total number of shares of all such classes resulting from all such reclassifications. 

  
 3 

 “common stock” includes any stock of any class of Capital Stock which has no
preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or winding up of the issuer thereof and which is not subject to redemption by the issuer thereof. 

“Company” has the meaning specified in the first paragraph of this Indenture, and subject to the provisions of
Article 9, shall include its successors and assigns. 
 “Company Order” means a written request or order signed in the
name of the Company by one of its Officers, and delivered to the Trustee. 
 “Conversion Agent” has the meaning specified
in Section 5.02. 
 “Conversion Date” has the meaning specified in Section 4.02(b). 

“Conversion Notice” has the meaning specified in Section 4.02(b). 

“Conversion Period” means, with respect to any Note surrendered for conversion, (i) if the relevant Conversion Date
occurs prior to the 30th Scheduled Trading Day immediately preceding the Maturity Date, the 25 consecutive VWAP Trading Day period beginning on, and including, the third VWAP Trading Day immediately following such Conversion Date; and (ii) if
the relevant Conversion Date occurs on or after the 30th Scheduled Trading Day immediately preceding the Maturity Date, the 25 consecutive VWAP Trading Day period beginning on, and including, the 27th Scheduled Trading Day immediately preceding the
Maturity Date. 
 “Conversion Price” means, in respect of each Note, as of any date, $100 divided by the Conversion
Rate in effect on such date.1 
 “Conversion Rate” means initially
[            ] shares of Common Stock per $100 principal amount of Notes, subject to adjustment as set forth herein. 

“Corporate Trust Office” means, with respect to the office of the Trustee, the designated corporate trust office of the
Trustee, at which at any particular time its corporate trust business shall be principally administered, which office at the date hereof is located at 8472 Lucent Boulevard, Suite 225, Highlands Ranch, CO 80129, Attn: SunEdison, Inc.
20[    ] Notes Administrator, or such other address in the continental United States as the Trustee may designate from time to time by notice to the Holders and the Company, or the corporate trust office of any successor Trustee
(or such other address as such successor Trustee may designate from time to time by notice to the Holders and the Company). 

“corporation” means a corporation, association, joint stock company, limited liability company or business trust. 

“Custodian” means the Trustee, as custodian for the Depositary with respect to the Notes (so long as the Notes constitute
Global Notes), or any successor entity. 
 “Daily Conversion Value” means, for each VWAP Trading Day during any Conversion
Period, one-twenty-fifth (1/25th) of the product of (i) the Conversion Rate in effect on such VWAP Trading Day and (ii) the Daily VWAP on such VWAP Trading Day. 

 

	1 	Initial conversion price shall be 140% of the Signing Measurement Price (as defined in the Agreement and Plan of Merger by and among the Company, SEV Merger Sub Inc., a Delaware corporation, and the Company (as
that term is used therein) dated as of July 20, 2015, as amended by Amendment No. 1 thereto, dated as of December 9, 2015) but such Signing Measurement Price shall not exceed $33.62 or be less than $27.51. 

  
 4 

 “Daily Measurement Value” means, for any conversion of Notes, the applicable
Specified Dollar Amount divided by 25. 
 “Daily Net Share Settlement Number” means, for each $100 principal amount
of Notes surrendered for conversion, for each of the 25 consecutive VWAP Trading Days during the Conversion Period, a number of shares of Common Stock equal to (A) the difference between the Daily Conversion Value for such VWAP Trading Day and
the Daily Measurement Value, divided by (B) the Daily VWAP for such VWAP Trading Day 
 “Daily Settlement Amount” for
each $100 principal amount of Notes surrendered for conversion, for each of the 25 consecutive VWAP Trading Days during the Conversion Period, will consist of: (i) if the Daily Conversion Value for such VWAP Trading Day exceeds the Daily
Measurement Value, (x) a cash payment equal to the Daily Measurement Value; and (y) a number of shares of Common Stock equal to the Daily Net Share Settlement Number for such VWAP Trading Day; or (ii) if the Daily Conversion Value for
such VWAP Trading Day is less than or equal to the Daily Measurement Value, a cash payment equal to the Daily Conversion Value. 

“Daily VWAP” for the Common Stock (or any security that is part of the Reference Property), in respect of any VWAP Trading
Day, means the per share volume-weighted average price of the Common Stock (or other security) as displayed under the heading “Bloomberg VWAP” on Bloomberg Page SUNE.N Equity AQR (or its equivalent successor if such page is not available,
or the Bloomberg Page for any security that is part of the Reference Property, if applicable) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such VWAP Trading Day
or, if such volume-weighted average price is unavailable (or the Reference Property is not a security), the market value of one share of the Common Stock (or other Reference Property) on such VWAP Trading Day as determined in good faith by the Board
of Directors or a duly authorized committee thereof in a commercially reasonable manner, using a volume-weighted average price method (unless the Reference Property is not a security). The “Daily VWAP” will be determined without regard to
after-hours trading or any other trading outside the regular trading session. 
 “Default” means any event that is, or with
the passage of time or the giving of notice or both would be, an Event of Default. 
 “Depositary” means, with respect to
the Notes issuable or issued in the form of a Global Note, the Person designated as Depositary by the Company until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture, and thereafter
“Depositary” shall mean or include each Person who is then a Depositary hereunder. The Company has appointed The Depository Trust Company as the initial Depositary for the Notes. 

“Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the U.S. that is legal
tender for the payment of public and private debts at the time of payment. 
 “Effective Date” means, with respect to a
Fundamental Change or a Make-Whole Fundamental Change, as applicable, the date such Fundamental Change or Make-Whole Fundamental Change occurs or becomes effective. 

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

“Ex-Dividend Date” means, except to the extent otherwise provided under Section 4.04(c), the first date on which the
shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of the Common
Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market. 

“Exchange” means The New York Stock Exchange or its successor. 

  
 5 

 “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, and
the rules and regulations of the Commission promulgated thereunder. 
 “Form of Fundamental Change Purchase Notice” means
the “Form of Fundamental Change Purchase Notice” attached as Attachment 2 to the Form of Note attached hereto as Exhibit A. 

“Form of Notice of Conversion” means the “Form of Notice of Conversion” attached as Attachment 1 to the
Form of Note attached hereto as Exhibit A. 
 “Fundamental Change” means the occurrence of a Change in Control
or a Termination of Trading. 
 “Fundamental Change Company Notice” has the meaning specified in Section 3.02(a). 

“Fundamental Change Expiration Time” has the meaning specified in Section 3.03(a)(i). 

“Fundamental Change Purchase Date” has the meaning specified in Section 3.01. 

“Fundamental Change Purchase Notice” has the meaning specified in Section 3.03(a)(i). 

“Fundamental Change Purchase Price” has the meaning specified in Section 3.01. 

“Global Note” means a Note evidencing all or part of a series of Notes, issued to the Depositary for such series or its
nominee, and registered in the name of such Depositary or nominee. 
 “Holder” means the Person in whose name a Note is
registered in the Register. 
 “Indenture” means this Indenture as amended or supplemented from time to time. 

“Initial Notes” has the meaning specified in Section 2.01. 

“Interest Payment Date” means, with respect to the payment of interest on the Notes, each
[            ] and [            ]2 of each year, beginning on, in the case
of the Initial Notes, [                    ], 2016.3 

“Issue Date” means, with respect to any Notes, the date the Notes are originally issued as set forth on the face of the Notes
under this Indenture. 
 “Last Original Issuance Date” means the last date of original issuance of the Initial Notes. 

“Make-Whole Fundamental Change” means (i) any Change in Control (determined after giving effect to any exceptions or
exclusions from the definition of “Change in Control” but without giving effect to the proviso in clause (2) of the definition thereof). 

“Make-Whole Fundamental Change Period” has the meaning specified in Section 4.06. 

“Market Disruption Event” means, if the Common Stock is listed for trading on the Exchange or listed on another U.S. national
or regional securities exchange, the occurrence or existence during the one-half hour period ending on the scheduled close of trading on any Scheduled Trading Day of any material suspension or limitation imposed on trading (by reason of movements in
price exceeding limits permitted by the stock exchange or otherwise) in the Common Stock or in any options, contracts or futures contracts relating to the Common Stock. 

 

	2 	To be the first of the month to occur after the date of issuance and the date occurring 6 months thereafter, respectively. 

	3 	To be the first Interest Payment Date to occur after the date that is 6 months following the date of issuance. 

  
 6 

 “Maturity Date” means
[                    ].4 

“Merger Event” has the meaning specified in Section 4.07(a). 

“Non-Affiliate Legend” has the meaning specified in the Form of Note attached hereto as Exhibit A. 

“Note” or “Notes” has the meaning specified in the first paragraph of the Recitals of this Indenture. 

“Offer Expiration Date” has the meaning specified in Section 4.04(e). 

“Officer” or “officer” shall mean, the Chairman of the Board of Directors, the Chief Executive Officer, the
President, a Vice President (whether or not designated by a number or word or words added before or after the title “Vice President”) or any Director of the Company. 

“Officer’s Certificate” means a certificate signed by an Officer of the Company and delivered to the Trustee. 

“Open of Business” means 9:00 a.m., New York City time. 

“Opinion of Counsel” means a written opinion of counsel, who may be an employee of, or counsel for, the Company or an
Affiliate of the Company, who is reasonably satisfactory to the Trustee. 
 “Outstanding” means, with respect to the Notes,
any Notes authenticated by the Trustee except (i) Notes cancelled by it, (ii) Notes delivered to it for cancellation and (iii)(A) Notes replaced pursuant to Section 2.09 hereof, on and after the time such Note is replaced (unless
the Trustee and the Company receive proof satisfactory to them that such Note is held by a protected purchaser), (B) Notes converted pursuant to Article 4 hereof, on and after their Conversion Date, (C) any and all Notes, the
principal of which has become due and payable as of the Maturity Date, on a Fundamental Change Purchase Date or otherwise and in respect of which the Paying Agent is holding, in accordance with this Indenture, money sufficient to pay all of the
Notes then payable, and (D) any and all Notes owned by the Company or any other obligor upon the Notes or any Affiliate of the Company or of such other obligor. In determining whether the Holders of the required principal amount of Notes have
concurred in any request, demand, authorization, direction, notice, consent or waiver, Notes owned by the Company or any other obligor upon the Notes or any Affiliate of the Company will be considered as though not Outstanding, except that in
determining whether the Trustee shall be protected in relying upon any request, demand, authorization, direction, notice, consent or waiver, only such Notes which a Responsible Officer of the Trustee actually knows to be so owned shall be
disregarded. 
 “Paying Agent” means, initially, the Trustee or any Person authorized by the Company in the future to pay
the principal amount of, any premium on, interest on, or the Fundamental Change Purchase Price of any Notes on behalf of the Company. 

“Permitted Exchange” has the meaning specified in the definition of “Termination of Trading” under this
Section 1.01. 
 “Person” means any individual, corporation, partnership, joint venture, trust, unincorporated
organization or government or any agency or political subdivision thereof. 
 “Physical Notes” means permanent, non-global
certificated Notes in definitive, fully registered form issued in minimum denominations of $100 principal amount and integral multiples of $100 in excess thereof. 

“Publicly Traded Securities” has the meaning specified in the definition of “Fundamental Change” under this
Section 1.01. 
  

	4 	To be the first day of the month to occur after the date that is 4 years following the date of issuance. 

  
 7 

 “Record Date” means, with respect to any dividend, distribution or other
transaction or event in which the holders of Common Stock have the right to receive any cash, securities or other property or in which Common Stock (or other applicable security) is exchanged for or converted into any combination of cash, securities
or other property, the date fixed for determination of holders of Common Stock entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors or a duly authorized committee thereof, statute,
contract or otherwise). 
 “Reference Property” has the meaning specified in Section 4.07(a). 

“Register” and “Registrar” have the respective meanings specified in Section 2.06. 

“Regular Record Date” means, with respect to any Interest Payment Date, [●] (whether or not a Business Day) and
[●] (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date. 
 “Relevant
Distribution” has the meaning specified in Section 4.04(c). 
 “Reporting Event of Default” has the meaning
specified in Section 6.03. 
 “Resale Restriction Termination Date” has the meaning specified in Section 2.08(b)(ii).

 “Responsible Officer,” when used with respect to the Trustee, means any officer within the corporate trust department
(or any other successor group of the Trustee) customarily performing functions similar to those performed by any of the above designated officers who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred
because of his or her knowledge of and familiarity with the particular subject and who in each case shall have direct responsibility for the administration of this Indenture. 

“Rule 144” means Rule 144 under the Securities Act (including any successor rule thereto), as the same may be amended from
time to time. 
 “Scheduled Trading Day” means any day that is scheduled to be a Trading Day on the principal U.S. national
or regional securities exchange or market on which the Common Stock is listed for trading. If the Common Stock is not so listed, “Scheduled Trading Day” means a “Business Day.” 

“Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and regulations of the Commission
promulgated thereunder. 
 “Settlement Amount” has the meaning specified in Section 4.03(a)(ii). 

“Settlement Election” has the meaning specified in Section 4.03(a)(i). 

“Settlement Election Notice” has the meaning specified in Section 4.03(a)(i). 

“Settlement Method” means, with respect to any conversion of Notes, Physical Settlement, Cash Settlement or Combination
Settlement, as elected (or deemed to be elected) by the Company in accordance with Section 4.03(a)(i). 
 “Significant
Subsidiary” means, with respect to any Person at any given time, a Subsidiary of such person that would constitute a “significant subsidiary” as such term is defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant
to the Securities Act, as in effect on the Issue Date. 
 “Specified Dollar Amount” means, for any conversion of Notes, the
maximum cash amount per $100 principal amount of Notes to be received by the Holder upon conversion as specified in the Company’s Specified 

  
 8 

 
Dollar Amount Election Notice (which may be part of the Settlement Election Notice) or otherwise deemed to be elected by the Company in respect of such conversion as provided herein. 

“Specified Dollar Amount Election” has the meaning specified in Section 4.03(a)(i). 

“Specified Dollar Amount Election Notice” has the meaning specified in Section 4.03(a)(i). 

“Spin-Off” has the meaning specified in Section 4.04(c). 

“Stock Price” has the meaning specified in Section 4.06(c). 

“Subsidiary” of any Person means (a) any corporation, association or other business entity of which more than 50% of the
outstanding total voting power ordinarily entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, trustees or other voting members of the governing body thereof is at the time owned or
controlled, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries or (b) any partnership the sole general partner or the managing general partner of which is the
Company or a Subsidiary of the Company or the only general partners of which are the Company or of one or more Subsidiaries of the Company (or any combination thereof). 

“Successor Company” has the meaning specified in Section 9.01(a). 

“Termination of Trading” means that the Common Stock (or other Reference Property into which the Notes are then convertible)
are not approved for listing on any of the Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective successors) (such exchanges or any of their respective successors, a “Permitted Exchange”).

 “TerraForm Power” means TerraForm Power, Inc., a Subsidiary of the Company. 

“Trading Day” means a day on which (i) the Exchange or, if the Common Stock is not listed on the Exchange, the principal
other U.S. national or regional securities exchange on which the Common Stock is then listed is open for trading or, if the Common Stock is not so listed, any Business Day and (ii) a Closing Sale Price for the Common Stock is available on such
securities exchange or market. A “Trading Day” only includes those days that have a scheduled closing time of 4:00 p.m. (New York City time) or the then-standard closing time for regular trading on the relevant exchange or trading system.

 “Trading Price” means, on any date of determination, the average of the secondary market bid quotations per $100
principal amount of Notes obtained by the Bid Solicitation Agent (or, if the Company is acting as the Bid Solicitation Agent, the Company) for $1,000,000 principal amount of the Notes at approximately 3:30 p.m., New York City time, on such
determination date from three independent nationally recognized securities dealers selected by the Company; provided that, if three such bids cannot reasonably be obtained by the Company or the Bid Solicitation Agent, as applicable, but two
such bids are obtained, then the average of the two bids shall be used, and if only one such bid can reasonably be obtained by the Company or the Bid Solicitation Agent, as applicable, that one bid shall be used. If on any date of determination,
(i) the Company or the Bid Solicitation Agent, as applicable, cannot reasonably obtain at least one bid for $1,000,000 principal amount of the Notes from an independent nationally recognized securities dealer, (ii) the Company fails to
request the Bid Solicitation Agent to obtain bids when required or (iii) the Company requests that the Bid Solicitation Agent obtain bids and the Bid Solicitation Agent fails to make such determination (or, if the Company is the Bid
Solicitation Agent, the Company fails to make such determination), then, in each case, the Trading Price per $100 principal amount of Notes on such date of determination or on each Trading Day of such failure (as the case may be) will be deemed to
be less than 98% of the product of (i) the Closing Sale Price of the Common Stock on such date and (ii) the then-current Conversion Rate. 

  
 9 

 “Trigger Event” has the meaning specified in Section 4.04(c). 

“Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture until a successor
Trustee shall have become such pursuant to Section 11.12, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder. 

“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended. 

“Unit of Reference Property” has the meaning specified in Section 4.07(a). 

“U.S.” means the United States of America. 

“Valuation Period” has the meaning specified in Section 4.04(c). 

“Vice President,” when used with respect to the Company or the Trustee, as applicable, means any vice president, whether or
not designated by a number or a word or words added before or after the title “vice president”. 
 “VWAP Market Disruption
Event” means (i) a failure by the primary exchange or quotation system on which the Common Stock trades or is quoted to open for trading during its regular trading session or (ii) the occurrence or existence for more than one
half-hour period in the aggregate on any Scheduled Trading Day for the Common Stock of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the Exchange or otherwise) in the Common Stock or
in any options, contracts or future contracts relating to the Common Stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m. (New York City time) on such day. 

“VWAP Trading Day” means a day on which (i) there is no VWAP Market Disruption Event and (ii) the Exchange or, if
the Common Stock is not listed on the Exchange, the principal other U.S. national or regional securities exchange on which the Common Stock is then listed is open for trading or, if the Common Stock is not so listed, any Business Day. For these
purposes, a “VWAP Trading Day” includes only those days that have a scheduled closing time of 4:00 p.m. (New York City time) or the then-standard closing time for regular trading on the relevant exchange or trading system. 

“Yieldco Subsidiaries” means a dividend growth-oriented public company, created by a parent company that bundles renewable
and/or conventional long-term contracted operating assets in order to generate predictable cash flows and that allocates cash available for distribution each year or quarter to shareholders in the form of dividends. 

Section 1.02 References to Interest. Any reference to interest on, or in respect of, any Note in this Indenture shall be deemed to
include Additional Interest, if, in such context, Additional Interest, is, was or would be payable pursuant hereto. Any express mention of the payment of Additional Interest in any provision hereof shall not be construed as excluding Additional
Interest in those provisions hereof where such express mention is not made. 
 Section 1.03 Acts of Holders. (a) Any
request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be made, given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar
tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is
hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments.
Proof of execution of any such instrument or of a writing appointing any such agent, or of the holding by any 

  
 10 

 
Person of Notes, shall be sufficient for any purpose of this Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section 1.03. 

(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a
witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where
such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or
the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 

(c) The amount of Notes held by any Person executing any such instrument or writings as the Holder thereof, the numbers of such
Notes and the date of his holding the same may be proved by the production of such Notes or by a certificate executed, as depositary, by any trust company, bank, banker or member of a national securities exchange (wherever situated), if such
certificate is in form satisfactory to the Trustee, showing that at the date therein mentioned such Person had on deposit with such depositary, or exhibited to it, the Notes therein described; or such facts may be proved by the certificate or
affidavit of the Person executing such instrument or writing as the Holder thereof, if such certificate or affidavit is in form satisfactory to the Trustee. The Trustee and the Company may assume that such ownership of any Notes continues until
(1) another certificate bearing a later date issued in respect of the same Notes is produced or (2) such Notes are produced by some other Person or (3) such Notes are no longer Outstanding. 

(d) The fact and date of execution of any such instrument or writing and the amount and number of Notes held by the Person so
executing such instrument or writing may also be proved in any other manner that the Trustee deems sufficient. The Trustee may in any instance require further proof with respect to any of the matters referred to in this Section 1.03. 

(e) The principal amount (except as otherwise contemplated in clause (ii) of the definition of “Outstanding”),
serial numbers of Notes held by any Person and the date of holding the same shall be proved by the Register. 
 (f) Any
request, demand, authorization, direction, notice, consent, election, waiver or other Act of the Holder of any Note shall bind every future Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in
exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Note. 

(g) The Company may but shall not be obligated to set a record date for purposes of determining the identity of Holders of any
Outstanding Notes entitled to vote or consent to any action by vote or consent authorized or permitted by Sections 2.11, 6.02, 6.04, 6.05, 6.06, 8.02 or 11.11. Such record date shall be not less than 10 nor more than 60 days prior to the first
solicitation of such consent or the date of the most recent list of Holders of such Notes furnished to the Trustee pursuant to Section 5.13 prior to such solicitation. 

(h) If the Company solicits from Holders any request, demand, authorization, direction, notice, consent, election, waiver or
other Act, the Company may, at its option, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, election, waiver or other Act, but the Company shall have no
obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, election, waiver or other Act may be given before or after such record date, but only the Holders of record at the close of
business on the record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of the Outstanding Notes have authorized or agreed or consented to such request, demand, authorization, direction,
notice, consent, election, waiver or other Act, and for that purpose the Outstanding Notes shall be computed as of the record date; provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed
effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date. 

  
 11 

 ARTICLE 2. 

THE NOTES 
 Section 2.01
Title and Terms; Payments. The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture (the “Initial Notes”) is initially limited to
$[                ], except for Notes authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of, other Notes pursuant to Sections
2.05, 2.06, 2.09, 2.11, or 3.07. The Company may, from time to time after the execution of this Indenture, execute and deliver to the Trustee for authentication Additional Notes of an unlimited aggregate principal amount, and the Trustee shall
thereupon authenticate and deliver said Additional Notes to or upon receipt of a Company Order, without any further action by the Company hereunder; provided, however, that (1) if any such Additional Notes are not fungible with
the Initial Notes for U.S. federal income tax purposes, any such Additional Notes will have a separate CUSIP number for so long as they remain not fungible; (2) such Additional Notes must be issued pursuant to the same terms (other than the
date of issuance for such Notes and, if applicable in accordance with Section 2.14, the date from which interest will initially accrue and the date of the first interest payment) as the Initial Notes; (3) the Trustee must receive an
Officer’s Certificate to the effect that such issuance of Additional Notes complies with the provisions of this Indenture, including each provision of this paragraph and all conditions precedent to the issuance and authentication of such
Additional Notes have been satisfied; and (4) the Trustee must receive an Opinion of Counsel which shall state (a) that the form of such Additional Notes has been established by a supplemental indenture or pursuant to the Board Resolutions
in accordance with this Section 2.01 and Section 2.04 and in conformity with the provisions of this Indenture; (b) that the terms of such Additional Notes have been established in accordance with this Section 2.01 and in
conformity with the other provisions of this Indenture and all conditions precedent to the issuance and authentication of such Additional Notes have been satisfied; and (c) that such Additional Notes have been duly authorized, executed and
delivered by the Company and, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the
Company, enforceable in accordance with their terms, subject to bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting the enforcement of creditors’ rights and to general equity principles. 

The Notes shall be known and designated as the “2.25% Convertible Senior Notes due 20[    ]” of the Company. The
principal amount shall be payable on the Maturity Date unless no longer Outstanding because earlier purchased or converted in accordance with this Indenture. 

The principal amount of Physical Notes shall be payable in U.S. dollars at the Corporate Trust Office and at any other office or agency
maintained by the Company for such purpose. Interest on Physical Notes will be payable (i) to Holders holding Physical Notes having an aggregate principal amount of $1,000,000 or less of Notes, by check mailed to such Holders at the address set
forth in the Register and (ii) to Holders holding Physical Notes having an aggregate principal amount of more than $1,000,000 of Notes, either by check mailed to such Holders or, upon written application by a Holder to the Company and Registrar
at least three Business Days prior to the relevant Interest Payment Date, by wire transfer in immediately available funds to such Holder’s account within the U.S., which application shall remain in effect until the Holder notifies the Registrar
to the contrary in writing. The Company will pay or cause the Trustee or Paying Agent to pay principal of, and interest on, Global Notes in U.S. dollars and in immediately available funds to the Depositary or its nominee, as the case may be, as the
registered Holder of such Global Note, on each Interest Payment Date, Fundamental Change Purchase Date, the Maturity Date or other payment date, as the case may be. 

Section 2.02 Ranking. The Notes constitute direct unsecured, senior obligations of the Company. 

Section 2.03 Denominations. The Notes shall be issuable only in registered form without coupons and in minimum denominations of
$100 and any integral multiple of $100. 
 Section 2.04 Execution, Authentication, Delivery and Dating. The Notes shall be
executed on behalf of the Company by one of its Officers. 

  
 12 

 Notes bearing the manual or facsimile signatures of individuals who were at any time Officers of
the Company shall bind the Company, notwithstanding that such individual has ceased to hold such office prior to the authentication and delivery of such Notes or did not hold such office at the date of such Notes. 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Notes executed by the Company to
the Trustee for authentication, together with a Company Order for the authentication and delivery of such Notes. The Company Order shall specify the amount of Notes to be authenticated, and shall further specify the amount of such Notes to be issued
as one or more Global Notes or as one or more Physical Notes. The Trustee in accordance with such Company Order shall authenticate and deliver such Notes as provided in this Indenture and not otherwise. 

Each Note shall be dated the date of its authentication. 

No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Note a
certificate of authentication substantially in the form provided for herein executed by an authorized signatory of the Trustee by manual signature, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such
Note has been duly authenticated and delivered hereunder. 
 Section 2.05 Temporary Notes. Pending the preparation of Physical
Notes, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Notes that are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the
tenor of the Physical Notes in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the Officer executing such Notes may determine, as evidenced by such Officer’s execution of such
Notes; provided that any such temporary Notes shall bear legends on the face of such Notes as set forth in the Form of Note attached hereto as Exhibit A and/or Section 2.11. 

After the preparation of Physical Notes, the temporary Notes shall be exchangeable for Physical Notes upon surrender of the temporary Notes at
any office or agency of the Company designated pursuant to Section 5.02, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Notes, the Company shall execute, and the Trustee shall, upon receipt of a
Company Order, authenticate and deliver, in exchange therefor a like principal amount of Physical Notes of authorized denominations. Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits under this Indenture
as Physical Notes. 
 Section 2.06 Registration; Registration of Transfer and Exchange. 

(a) The Company shall cause to be kept at the applicable Corporate Trust Office of the Trustee in the continental United States
a register (the register maintained in such office and in any other office or agency designated pursuant to Section 5.02 being herein sometimes collectively referred to as the “Register”) in which, subject to such reasonable
regulations as it may prescribe, the Company shall provide for the registration and transfer of Notes. The Trustee is hereby appointed registrar (the “Registrar”) for the purpose of registering the transfer and exchange of the Notes
as herein provided. 
 Upon surrender for registration of transfer of any Note at an office or agency of the Company designated pursuant to
Section 5.02 for such purpose, the Company shall execute, and upon receipt of a Company Order the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Notes of any authorized
denomination and of a like aggregate principal amount and tenor, each such Note bearing such restrictive legends as may be required by this Indenture (including the Form of Note attached hereto as Exhibit A and Section 2.11). 

At the option of the Holder and subject to the other provisions of Section 2.11, Notes may be exchanged for other Notes of any authorized
denomination and of a like aggregate principal amount and tenor, upon surrender of the Notes to be exchanged at such office or agency. Whenever any Notes are so surrendered for exchange, the Company shall execute, and the Trustee shall, upon receipt
of a Company Order, authenticate and deliver, the Notes which the Holder making the exchange is entitled to receive. 

  
 13 

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

Every Note presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee) be duly
endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange of Notes, but the Company and the Registrar may require payment
of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Notes, other than exchanges pursuant to Section 2.11 not involving any transfer. 

Neither the Company nor the Registrar shall be required to exchange or register a transfer of any Note in the circumstances set forth in
Section 2.11(a)(iv). 
 (b) Neither any members of, or participants in, the Depositary (collectively, the
“Agent Members”) nor any other Persons on whose behalf any Agent Member may act shall have any rights under this Indenture with respect to any Global Note registered in the name of the Depositary or any nominee thereof, or under any
such Global Note, and the Depositary or such nominee, as the case may be, may be treated by the Company, the Trustee, the Agents and any of their respective agents as the absolute owner and Holder of such Global Note for all purposes whatsoever.
Neither the Trustee nor any Agent shall have any liability, responsibility or obligation to any Agent Members or any other Person on whose behalf Agent Members may act with respect to (i) any ownership interests in the Global Note,
(ii) the accuracy of the records of the Depositary or its nominee, (iii) any notice required hereunder, (iv) any payments under or with respect to the Global Note or (v) actions taken or not taken by any Agent Members.

 (c) Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee, any Agent or any of their
respective agents from giving effect to any written certification, proxy or other authorization furnished by the Depositary or such nominee, as the case may be, or impair, as between the Depositary, its Agent Members and any other Person on whose
behalf an Agent Member may act, the operation of customary practices of such Persons governing the exercise of the rights of a Holder of any Note. The registered Holder of a Global Note may grant proxies and otherwise authorize any Person, including
Agent Members and persons that may hold interests through Agent Members, to take any action that a Holder is entitled to take under this Indenture or the Notes. 

Section 2.07 Reserved. 

Section 2.08 Reserved. 

Section 2.09 Mutilated, Destroyed, Lost and Stolen Notes. If any mutilated Note is surrendered to the Trustee, the Company shall
execute, and the Trustee shall, upon Company Order, authenticate and deliver, in exchange therefor a new Note of like tenor and principal amount and bearing a number not contemporaneously outstanding. If there shall be delivered to the Company and
the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Note and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence
of written notice to the Company or the Trustee that such Note has been acquired by a protected purchaser, the Company shall execute, and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Note, a new Note of
like tenor and principal amount and bearing a number not contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or
stolen Note has become due and payable, the Company in its discretion may, instead of issuing a new Note, pay such Note. 

  
 14 

 Upon the issuance of any new Note under this Section 2.09, the Company or Trustee may
require payment by the Holder of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 

Every new Note issued pursuant to this Section 2.09 in lieu of any destroyed, lost or stolen Note shall constitute an original additional
contractual obligation of the Company, whether or not the destroyed, lost or stolen Note shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Notes
duly issued hereunder. 
 The provisions of this Section 2.09 are exclusive and shall preclude (to the extent lawful) all other rights
and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 
 Section 2.10 Persons
Deemed Owners. Subject to the rights of Holders as of the Regular Record Date to receive payments of interest on the related Interest Payment Date, prior to due presentment of a Note for registration of transfer, the Company, the Trustee, each
Agent, and any of their respective agents may treat the Person in whose name such Note is registered in the Register as the owner of such Note for the purpose of receiving payment of the principal of such Note and for all other purposes whatsoever,
whether or not such Note be overdue, and neither the Company, the Trustee, the Agents nor any of their respective agents shall be affected by notice to the contrary. 

Section 2.11 Transfer and Exchange. 

(a) Provisions Applicable to All Transfers and Exchanges. 

(i) Subject to the restrictions set forth in this Section 2.11, Physical Notes and beneficial interests in Global Notes
may be transferred or exchanged from time to time as desired, and each such transfer or exchange will be noted by the Registrar in the Register. 

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

(iii) No service charge will be imposed on any Holder of a Physical Note or any owner of a beneficial interest in a Global Note
for any exchange or registration of transfer, but each of the Company, the Trustee or the Registrar may require such Holder or owner of a beneficial interest to pay a sum sufficient to cover any transfer tax, assessment or other governmental charge
imposed in connection with such registration of transfer or exchange. 
 (iv) Unless the Company specifies otherwise, none of
the Company, the Trustee, the Registrar or any co-Registrar will be required to exchange or register a transfer of any Note (i) that has been surrendered for conversion or (ii) as to which a Fundamental Change Purchase Notice has been
delivered and not withdrawn, except to the extent any portion of such Note is not subject to the foregoing. 
 (v) Neither
the Trustee nor any Agent will have any obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any
Note (including any transfers between or among Depositary participants or beneficial owners of interests in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to
do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

  
 15 

 (b) In General; Transfer and Exchange of Beneficial Interests in Global Notes. So long as
the Notes are eligible for book-entry settlement with the Depositary, unless otherwise required by law or by Section 2.11(c): 

(i) all Notes will be represented by one or more Global Notes5; 

(ii) every transfer and exchange of a beneficial interest in a Global Note will be effected through the Depositary in
accordance with the Applicable Procedures and the provisions of this Indenture; and 
 (iii) each Global Note may be
transferred only as a whole and only (A) by the Depositary to a nominee of the Depositary, (B) by a nominee of the Depositary to the Depositary or to another nominee of the Depositary or (C) by the Depositary or any such nominee to a
successor Depositary or a nominee of such successor Depositary. 
 (c) Transfer and Exchange of Global Notes for Physical Notes. 

(i) Notwithstanding any other provision of this Indenture, each Global Note will be exchanged for Physical Notes if the
Depositary delivers notice to the Company that: 
 (A) the Depositary is unwilling or unable to continue to act as
Depositary; or 
 (B) the Depositary is no longer registered as a clearing agency under the Exchange Act or is otherwise no
longer permitted under applicable law to continue as Depositary for such Global Note; and, in each case, the Company promptly delivers a copy of such notice to the Trustee and the Company fails to appoint a successor Depositary within 90 days after
receiving notice from the Depositary. 
 In each such case, the Company will, in accordance with Section 2.04, promptly
execute, and, upon receipt of a Company Order, the Trustee will, in accordance with Section 2.04, promptly authenticate and deliver, for each beneficial interest in each Global Note so exchanged, an aggregate principal amount of Physical Notes
equal to the aggregate principal amount of such beneficial interest, registered in such names and in such authorized denominations as the Depositary specifies. 

(ii) In addition, if an Event of Default has occurred with regard to the Notes represented by the relevant Global Note and such
Event of Default has not been cured or waived, any owner of a beneficial interest in a Global Note may deliver a written request through the Depositary to exchange such beneficial interest for Physical Notes. 

In such case, (A) the Registrar will deliver notice of such request to the Company and the Trustee, which notice will
identify the aggregate principal amount of such beneficial interest and the CUSIP of the relevant Global Note; (B) the Company will, in accordance with Section 2.04, promptly execute, and, upon receipt of a Company Order, the Trustee, in
accordance with Section 2.04, will promptly authenticate and deliver, to such owner, for the beneficial interest so exchanged by such owner, Physical Notes registered in such owner’s name having an aggregate principal amount equal to the
aggregate principal amount of such beneficial interest as the Depositary specifies; and (C) the Trustee, in accordance with the Applicable Procedures, will cause the principal amount of such Global Note to be decreased by the aggregate
principal amount of the beneficial interest so exchanged. If all of the beneficial interests in a Global Note are so exchanged, such Global Note will be deemed surrendered to the Trustee for cancellation, and the Trustee will cause such Global Note
to be cancelled in accordance with the Trustee’s customary procedures and the Applicable Procedures. 
 (d) Transfer and Exchange of
Physical Notes.  
 (i) If Physical Notes are issued, a Holder may transfer a Physical Note by:
(A) surrendering such Physical Note for registration of transfer to the Registrar, together with any endorsements or instruments of transfer required by any of the Company, the Trustee or the Registrar; and (B) satisfying 

 

	5 	NTD: To be updated if physical notes are issued. 

  
 16 

 
all other requirements for such transfer set forth in this Section 2.11. Upon the satisfaction of conditions (A) and (B) of the immediately preceding sentence, the Company, in
accordance with Section 2.04, will promptly execute and deliver to the Trustee, and the Trustee, upon receipt of a Company Order, will, in accordance with Section 2.04, promptly authenticate and deliver, in the name of the designated
transferee or transferees, one or more new Physical Notes, of any authorized denomination, having like aggregate principal amount. 

(ii) If Physical Notes are issued, a Holder may exchange a Physical Note for other Physical Notes of any authorized
denominations and aggregate principal amount equal to the aggregate principal amount of the Notes to be exchanged by surrendering such Notes, together with any endorsements or instruments of transfer required by any of the Company, the Trustee or
the Registrar, at any office or agency maintained by the Company for such purposes pursuant to Section 5.02. Whenever a Holder surrenders Notes for exchange, the Company, in accordance with Section 2.04, will promptly execute and deliver
to the Trustee, and the Trustee, upon receipt of a Company Order and in accordance with Section 2.04, will promptly authenticate and deliver the Notes that such Holder is entitled to receive, bearing registration numbers not contemporaneously
outstanding. 
 (iii) If Physical Notes are issued, a Holder may transfer or exchange a Physical Note for a beneficial
interest in a Global Security by (A) surrendering such Physical Note for registration of transfer or exchange, together with any endorsements or instruments of transfer required by any of the Company, the Trustee or the Registrar, at any office
or agency maintained by the Company for such purposes pursuant to Section 5.02; (B) satisfying all other requirements for such transfer set forth in this Section 2.11; and (C) providing written instructions to the Trustee to
make, or to direct the Registrar to make, an adjustment in its books and records with respect to the applicable Global Note to reflect an increase in the aggregate principal amount of the Notes represented by such Global Note, which instructions
will contain information regarding the Depositary account to be credited with such increase. Upon the satisfaction of conditions (A), (B), and (C), the Trustee will cancel such Physical Note and cause, in accordance with the Applicable Procedures,
the aggregate principal amount of Notes represented by such Global Note to be increased by the aggregate principal amount of such Physical Note, and will credit or cause to be credited the account of the Person specified in the instructions provided
by the exchanging Holder in an amount equal to the aggregate principal amount of such Physical Note. If no Global Notes are then Outstanding, the Company, in accordance with Section 2.04, will promptly execute and deliver to the Trustee, and
the Trustee, upon receipt of a Company Order and in accordance with Section 2.04, will authenticate, a new Global Note in the appropriate aggregate principal amount. 

Section 2.12 Purchase of Notes; Cancellation. The Company may, to the extent permitted by law, and directly or indirectly
(regardless of whether such Notes are surrendered to the Company), purchase Notes in the open market or by tender offer at any price or by private agreement. The Company will cause any Notes so purchased (other than Notes purchased pursuant to
cash-settled swaps or other derivatives) to be surrendered to the Trustee for cancellation. For the avoidance of doubt, any such Notes purchased by the Company will be retired and no longer Outstanding hereunder. 

The Company shall deliver to the Trustee for cancellation any Notes previously authenticated and delivered hereunder that the Company may have
acquired in any manner whatsoever, and may deliver to the Trustee for cancellation any Notes previously authenticated hereunder which the Company has not issued and sold. The Trustee shall promptly cancel all Notes surrendered for registration of
transfer, exchange, payment, purchase, repurchase, conversion or cancellation in accordance with its standard procedures. If the Company shall acquire any of the Notes in any manner whatsoever, such acquisition shall not operate as a redemption or
satisfaction of the indebtedness represented by such Notes unless and until the same are delivered to the Trustee for cancellation. The Notes so acquired, while held by or on behalf of the Company or any of its Subsidiaries, shall not entitle the
Holder thereof to convert the Notes. The Company may not issue new Notes to replace Notes it has paid in full or delivered to the Trustee for cancellation.

  
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 The Registrar shall retain, in accordance with its customary procedures, copies of all letters,
notices and other written communications received pursuant to this Section 2.12. The Company shall have the right to inspect and make copies of all such letters, notices or other written communications at any reasonable time upon the giving of
reasonable written notice to the Registrar. 
 Section 2.13 CUSIP Numbers. In issuing the Notes, the Company may use
“CUSIP” numbers (if then generally in use); provided that the Trustee shall have no liability for any defect in the CUSIP numbers as they appear on any Notes, notice, or elsewhere. The Company will promptly notify the Trustee in writing of
any change in the “CUSIP” numbers. 
 Section 2.14 Payment and Computation of Interest. The Notes will bear cash
interest at a rate of 2.25% per year until the Maturity Date, unless earlier purchased, converted or redeemed in accordance with the provisions herein. Interest on the Notes will accrue from the most recent date on which interest has been paid
or duly provided for or, if no interest has been paid or duly provided for, (x) in the case of the Initial Notes, [●] or (y) in the case of any other Notes, the date of original issuance of such Notes. Interest will be paid to the
Person in whose name a Note is registered at the Close of Business on the Regular Record Date immediately preceding the relevant Interest Payment Date semiannually in arrears on each Interest Payment Date; provided that, if any Interest
Payment Date, Maturity Date or Fundamental Change Purchase Date of a Note falls on a day that is not a Business Day, the required payment will be made on the next succeeding Business Day and no interest on such payment will accrue in respect of the
delay. Interest on the Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months; provided, however, that for any period in which a particular interest rate is applicable for less than a full semiannual
period, interest on the Notes will be computed on the basis of a 30-day month and, for periods of less than a month, the actual number of days elapsed over a 30-day month.  

Unless the context otherwise requires, payments of the Fundamental Change Purchase Price, principal and interest on any Note, in each case,
that are not made when due will accrue interest per annum at the then-applicable interest rate from the required payment date. 
 The
Company will pay Additional Interest under certain circumstances as provided in Section 6.03. 
 ARTICLE 3. 

REPURCHASE AT THE OPTION OF THE HOLDERS 

Section 3.01 Purchase at Option of Holders upon a Fundamental Change. If a Fundamental Change occurs, then
each Holder shall have the right, at such Holder’s option, to require the Company to purchase for cash all of such Holder’s Notes, or any portion of such Holder’s Notes that is equal to $100, or an integral multiple of $100, on a date
(the “Fundamental Change Purchase Date”) specified by the Company that is not less than 20 or more than 35 Business Days after the Company provides the Fundamental Change Company Notice, at a purchase price equal to 100% of the
principal amount of the Notes to be purchased, plus accrued and unpaid interest to but excluding the Fundamental Change Purchase Date (the “Fundamental Change Purchase Price”); provided,
however, that if the Fundamental Change Purchase Date is after a Regular Record Date and on or prior to the Interest Payment Date to which it relates, the Company shall instead pay interest accrued to the Interest Payment Date
to the Holder of record of the Note as of the close of business on Regular Record Date and the Fundamental Change Purchase Price shall then be equal to 100% of the principal amount of the Note subject to purchase and will not include any accrued and
unpaid interest. Notwithstanding the foregoing, there shall be no purchase of any Notes pursuant to this Section 3.01 if the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to the
Fundamental Change Purchase Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Purchase Price with respect to such Notes). In the event the principal amount of the Notes is
accelerated following delivery of a Fundamental Change Company Notice (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Purchase Price with respect to such Notes), the
Trustee will promptly (i) return to the respective Holders thereof any Physical Notes tendered to it or 

  
 18 

 
(ii) effect appropriate book-entry transfers to the respective beneficial holders thereof any beneficial interests in a Global Note tendered to it in compliance with the
Applicable Procedures, in which case, upon such return or transfer, as the case may be, the Fundamental Change Purchase Notice with respect thereto shall be deemed to have been withdrawn. 

Section 3.02 Fundamental Change Company Notice. 

(a) General. On or before the 10th Business Day after the occurrence of a Fundamental Change, the Company shall provide
to all Holders of the Notes, the Trustee and the Paying Agent (in the case of any Paying Agent other than the Trustee) a written notice (the “Fundamental Change Company Notice”) of the occurrence of such Fundamental Change and of
the purchase right at the option of the Holders arising as a result thereof. Such notice shall be sent to the Holders in accordance with Section 12.08(c) (with a copy to the Trustee). Simultaneously with providing such Fundamental Change
Company Notice, the Company shall issue a press release announcing the occurrence of such Fundamental Change and make the press release available on the Company’s website. Each Fundamental Change Company Notice shall specify: 

(i) the events causing the Fundamental Change; 

(ii) the Effective Date of the Fundamental Change, and whether the Fundamental Change is a Make Whole Fundamental Change, in
which case the notice shall state the Effective Date of the Make Whole Fundamental Change; 
 (iii) information about the
Holder’s right to convert the Notes; 
 (iv) information about the Holder’s right to require the Company to
purchase the Notes; 
 (v) the last date on which a Holder of Notes may exercise the purchase right pursuant to
Section 3.01; 
 (vi) the Fundamental Change Purchase Price; 

(vii) the Fundamental Change Purchase Date; 

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

(ix) the applicable Conversion Rate and any adjustments to the applicable Conversion Rate resulting from the Fundamental
Change; 
 (x) if applicable, that the Notes with respect to which a Fundamental Change Purchase Notice has been delivered by
a Holder may be converted only if the Holder withdraws the Fundamental Change Purchase Notice in accordance with Section 3.05; 

(xi) the procedures required for exercise of the purchase option upon the Fundamental Change, including that the Holder must
exercise the purchase option prior to the Fundamental Change Expiration Time; and 
 (xii) that the Holder shall have the
right to withdraw any Notes surrendered for purchase prior to the Fundamental Change Expiration Time and the procedures required for withdrawal of any such exercise as described in 3.05; 

(b) No failure of the Company to give the foregoing notices and no defect therein shall limit the Holders’ repurchase
rights or affect the validity of the proceedings for the repurchase of the Notes pursuant to Section 3.01. 
 (c) At the
Company’s written request, the Trustee shall give the Fundamental Change Company Notice in the Company’s name and at the Company’s expense; provided, however, that, in all cases, the Fundamental Change Company Notice shall be prepared
by the Company; provided, further that the Company shall have delivered to the Trustee, at least five Business Days before the Fundamental Change Company Notice is required to be given to the Holders (or such shorter period agreed to by the
Trustee), an Officer’s Certificate requesting that the Trustee give such notice and attaching the form of Fundamental 

  
 19 

 
Change Company Notice and including the information required by Section 3.02(a). Neither the Trustee nor the Paying Agent shall be responsible for determining if a Fundamental Change has
occurred or for delivering a Fundamental Change Company Notice to Holders or for the content of any Fundamental Change Company Notice. 

Section 3.03 Repurchase Procedures. 

(a) Purchases of Notes under Section 3.01 shall be made, at the option of the Holder thereof, upon: 

(i) if the Notes to be purchased are Physical Notes, delivery to the Trustee by the Holder of a duly completed notice in
the Form of Fundamental Change Purchase Notice (the “Fundamental Change Purchase Notice”) together with the Physical Notes duly endorsed for transfer, at any time prior to the Close of Business on the Business Day immediately
preceding the Fundamental Change Purchase Date, (the “Fundamental Change Expiration Time”); and 

(ii) if the Notes to be purchased are Global Notes, delivery to the Trustee of the beneficial interest in such Global Notes, by
book-entry transfer, in compliance with the Applicable Procedures and the satisfaction of any other requirements of the Depositary in connection with tendering beneficial interests in a Global Note for purchase by the Fundamental Change Expiration
Time. 
 The Fundamental Change Purchase Notice in respect of any Notes to be purchased shall state: 

(i) if certificated, the certificate numbers of such Holder’s Notes; 

(ii) the portion of the principal amount of such Notes to be purchased, which must be such that the principal amount not
purchased equals $100 or an integral multiple of $100; and 
 (iii) that such Notes are to be purchased by the Company
pursuant to the applicable provisions of the Notes and this Indenture. 
 (b) Notice to Company. The Paying Agent
shall promptly notify the Company of the receipt by it of any Fundamental Change Purchase Notice or written notice of withdrawal thereof. 

Section 3.04 Effect of Fundamental Change Purchase Notice. Upon receipt by the Paying Agent of Physical Notes and a Fundamental
Change Purchase Notice or beneficial interests in a Global Note by book-entry transfer as specified in Section 3.03, the Holder of the tendered Note shall (unless such Fundamental Change Purchase Notice is withdrawn in accordance with
Section 3.05) thereafter be entitled to receive solely the Fundamental Change Purchase Price, in cash with respect to such Note (and any previously accrued and unpaid interest on such Note, if applicable). Such Fundamental Change Purchase Price
shall be paid to such Holder, provided that the conditions in this Article 3 have been satisfied (including, without limitation, the proper delivery or book-entry transfer of such Note as required under Section 3.03(a)) and subject to the
Paying Agent holding money sufficient to pay the Fundamental Change Purchase Price, promptly following the later of the applicable Fundamental Change Purchase Date and the time of delivery or book-entry transfer of such Note to the Paying Agent by
the Holder thereof in the manner required by Section 3.01. 
 Section 3.05 Withdrawal of Fundamental Change Purchase
Notice. A Fundamental Change Purchase Notice may be withdrawn (in whole or in part) by means of a written notice of withdrawal delivered to the Paying Agent in accordance with the Fundamental Change Company Notice, as applicable, at any time
prior to the Fundamental Change Expiration Time, as applicable, specifying: 
 (a) the principal amount of the Notes with
respect to which such notice of withdrawal is being submitted; 
 (b) if certificated, the certificate numbers of the
withdrawn Notes; and 
 (c) the principal amount, if any, of each Note that remains subject to the Fundamental Change
Purchase Notice, which must be such that the principal amount of such Holder’s Notes not purchased equals $100 or an integral multiple of $100; 

  
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 provided, however, that if the Notes are Global Notes, the notice must comply with the Applicable
Procedures. 
 The Paying Agent will promptly return to the respective Holders thereof any Physical Notes with respect to which a
Fundamental Change Purchase Notice has been withdrawn in compliance with the provisions of this Section 3.05. 
 Section 3.06
Deposit of Fundamental Change Purchase Price. Prior to 11:00 a.m., New York City time, on the Fundamental Change Purchase Date, the Company shall deposit with the Paying Agent (or, if the Company or a Subsidiary or an Affiliate of either of
them is acting as the Paying Agent, shall segregate and hold in trust as provided herein) an amount of money (in immediately available funds if deposited on such Business Day) sufficient to pay the Fundamental Change Purchase Price of all the Notes
or portions thereof that are to be purchased as of the Fundamental Change Purchase Date. If the Paying Agent holds money sufficient to pay the Fundamental Change Purchase Price of the tendered Notes on the Fundamental Change Purchase Date, then
(a) such tendered Notes will cease to be Outstanding and (except as provided below in clause (b)) interest will cease to accrue thereon (whether or not book-entry transfer of the Notes is made or whether or not the Notes are delivered to the
Paying Agent) and (b) all other rights of the Holders of such tendered Notes will terminate (other than (x) the right to receive the Fundamental Change Purchase Price and (y) the right of the Holder of record on such Regular Record
Date to receive any interest payment pursuant to Section 3.01, if applicable). 
 Section 3.07 Notes Purchased in Whole or in
Part. Any Note that is to be purchased pursuant to this Article 3, whether in whole or in part, shall be surrendered at the office of the Paying Agent (with due endorsement by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing) and, to the extent that only a part of the Note so surrendered is to be purchased, the Company shall execute and, upon receipt of
a Company Order, the Trustee shall authenticate and deliver to the Holder of such Note, without service charge, a new Note or Notes, of any authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange
for, the portion of the principal amount of the Note so surrendered that is not purchased. 
 Section 3.08 Covenant To Comply with
Applicable Laws upon Purchase of Notes. In connection with any purchase of Notes under Section 3.01, the Company shall, in each case if required by law, (i) comply with the provisions of Rule 13e-4, Rule 14e-1 and any other tender
offer rules under the Exchange Act to the extent any such rules are applicable, (ii) file a Schedule TO or any successor or similar schedule, if required, under the Exchange Act and (iii) otherwise comply with all U.S. federal or state
securities laws applicable to the Company in connection with offer by the Company to purchase Notes under Section 3.01, in each case, so as to permit the rights and obligations under this Article 3 to be exercised in the time and in the
manner specified under this Article 3. 
 Section 3.09 Repayment to the Company. To the extent that the aggregate amount of
money deposited by the Company pursuant to Section 3.06 exceeds the aggregate Fundamental Change Purchase Price of the Notes or portions thereof that the Company is obligated to purchase as of the Fundamental Change Purchase Date, then,
following the Fundamental Change Purchase Date, the Paying Agent shall, upon demand of the Company, promptly return any such excess to the Company. 

ARTICLE 4. 
 CONVERSION 

Section 4.01 Right To Convert. (a) Subject to and upon compliance with the provisions of this Indenture, each Holder shall
have the right, at such Holder’s option, to convert all or any portion of its Notes at an initial Conversion Rate of [            ] shares of Common Stock per $100 aggregate principal
amount of Notes (equivalent to an initial Conversion Price of approximately $[            ] per share of Common Stock) into the Settlement Amount determined in accordance with
Section 4.03(a)(ii), (x) prior to the Close of Business on the Business 

  
 21 

 
Day immediately preceding [three months prior to maturity], 20[    ], only upon satisfaction of one or more of the conditions described in Section 4.01(b), and
(y) on or after [insert date inserted in immediately preceding brackets], 20[    ], at any time until the Close of Business on the second Scheduled Trading Day immediately preceding the stated Maturity Date regardless of
whether the conditions described in Section 4.01(b) are satisfied. 
 (b) (i) A Holder may surrender all or
any portion of its Notes for conversion during any calendar quarter commencing after the quarter ending [the fiscal quarter in which the notes were issued], 2015 if the Closing Sale Price of the Common Stock for at least 20 Trading Days (whether or
not consecutive) during the period of 30 consecutive Trading Days ending on the last Trading Day of the calendar quarter immediately preceding the calendar quarter in which the conversion occurs, is more than 130% of the applicable Conversion Price
in effect on each applicable Trading Day. Neither the Trustee nor the Conversion Agent shall have any obligation (x) to determine whether the market price condition described in this Section 4.01(b)(i) has been met or (y) to verify
the Company’s determination regarding such market price condition. 
 (ii) If, prior to the Close of Business on the
Business Day immediately preceding [three months before maturity ], 20[    ] the Trading Price per $100 principal amount of Notes on each Trading Day during any ten consecutive Trading-Day period (the “Measurement
Period”) is less than 98% of the product of (x) the Closing Sale Price of the Common Stock on such Trading Day and (y) the Conversion Rate in effect on such Trading Day, a Holder may surrender Notes for conversion at any time
during the five consecutive Trading Days following such Measurement Period. Whenever the condition to conversion set forth in this Section 4.01(b)(ii) has been met, the Company shall so notify the Holders, the Trustee and the Bid Solicitation
Agent and the Conversion Agent (in each case, if other than the Trustee) in writing. The Trading Price shall be determined by the Company pursuant to this Section 4.01(b)(ii) and the definition of “Trading Price” set forth in
Section 1.01. The Company shall provide written notice to the Bid Solicitation Agent (if other than the Company) of the three independent nationally recognized securities dealers selected by the Company in accordance with the definition of
Trading Price, along with the appropriate contact information for each. However, the Bid Solicitation Agent (if other than the Company) shall have no obligation to solicit market bid quotations for the Company to determine the Trading Price of the
Notes unless the Company has requested such solicitation in writing; and the Company shall have no obligation to make such request (or, if the Company is the Bid Solicitation Agent, to determine the Trading Price of the Notes) unless a Holder of a
Note provides it and the Trustee with reasonable evidence that the Trading Price per $100 principal amount of Notes would be less than 98% of the product of (x) the Closing Sale Price of the Common Stock on such Trading Day and (y) the
Conversion Rate in effect on such Trading Day. At such time, the Company shall instruct the Bid Solicitation Agent in writing to solicit market bid quotations for the Notes from three independent nationally recognized securities dealers selected by
the Company for the Company to determine (or, if the Company is the Bid Solicitation Agent, the Company shall determine) the Trading Price per $100 principal amount of the Notes beginning on such Trading Day and on each successive Trading Day until
the Trading Price per $100 principal amount of Notes for a Trading Day is greater than or equal to 98% of the product of (x) the Closing Sale Price of the Common Stock on such Trading Day and (y) the Conversion Rate in effect on such
Trading Day. If, on any Trading Day after the condition to conversion set forth in this Section 4.01(b)(ii) has been met, the Trading Price per $100 principal amount of Notes is greater than or equal to 98% of the product of (x) the
Closing Sale Price of the Common Stock on such Trading Day and (y) the Conversion Rate in effect on such Trading Day, the Company will so notify the Holders, the Trustee, the Bid Solicitation Agent and the Conversion Agent (if other than the
Trustee) in writing. 
 (iii) If the Company elects to issue or distribute, as the case may be, to all or substantially all
holders of the Common Stock to (x) any rights, options or warrants entitling them to subscribe for or purchase, for a period expiring within 60 calendar days after the declaration date for such issuance, shares of the Common Stock, at a price
per share that is less than the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the declaration date for such issuance; or (y) cash, debt securities (or other evidence of indebtedness) or other assets or
securities (excluding 

  
 22 

 
dividends or distributions in respect of which an adjustment to the Conversion Rate is made pursuant to Section 4.04(a)), which distribution has a per share value exceeding 10% of the
Closing Sale Price of the Common Stock as of the Trading Day immediately preceding the declaration date for such distribution, then, in either case, the Company must deliver notice of such distribution, and of the Ex-Dividend Date for such
distribution, to the Holders at least 35 Scheduled Trading Days prior to the Ex-Dividend Date for such distribution. After the Company has delivered such notice, Holders may surrender their Notes for conversion at any time until the earlier of
(a) Close of Business on the Business Day immediately preceding such Ex-Dividend Date and (b) the Company’s announcement that such issuance or distribution will not take place. Neither the Trustee nor the Conversion Agent shall have
any obligation (I) to determine whether a distribution described in this Section 4.01(b)(iii) has occurred or (II) to verify the Company’s determination regarding such a distribution. 

(iv) If a transaction or event that constitutes a Fundamental Change or a Make Whole Fundamental Change occurs prior to
the Close of Business on the Business Day immediately preceding [            ], 20[    ], a holder may surrender Notes for conversion at any time from and after the date
that is 35 Scheduled Trading Days prior to the anticipated effective date of the transaction or event (or, if later, the date on which the Company gives notice of such transaction) until the Close of Business on (1) if such transaction or event
is a Fundamental Change, the Business Day immediately preceding the related Fundamental Change Purchase Date, or (2) otherwise, on the 40th Scheduled Trading Day immediately following the effective date for such transaction or event. To the
extent commercially reasonably practicable, the Company will give notice to Holders of the anticipated effective date for such transaction or event not less than 35 Scheduled Trading Days prior to the anticipated effective date or, if the
Company does not have knowledge of such transaction or event or the Company determines, in its commercially reasonable discretion, that it is impractical or inadvisable to disclose the anticipated effective date of such transaction or event at least
35 Scheduled Trading Days prior to the anticipated effective date, within one Business Day of the date upon which the Company receives notice, or otherwise becomes aware of, such transaction or event, unless the Company determines, in its
commercially reasonable discretion, that it is no longer impractical or inadvisable to disclose the anticipated effective date of such transaction or event (but in no event later than the actual effective date of such transaction or event).
Notwithstanding the foregoing, in no event will the Company be required to provide such notice to the Holders before the earlier of (i) the actual effective date of such transaction or event and (ii) the earlier of such time as the Company
or its Affiliates (a) have publicly disclosed or acknowledged the circumstances giving rise to such anticipated transaction or event or (b) are required to publicly disclose under applicable law or the rules of any stock exchange on which
the Company’s equity is then listed the circumstances giving rise to such anticipated transaction or event. Neither the Trustee nor the Conversion Agent shall have any obligation to (x) determine whether a Fundamental Change or Make Whole
Fundamental Change has occurred or (y) verify the Company’s determination regarding such occurrence or non-occurrence. 

(v) Holders will have the right to surrender Notes for conversion if the Company is a party to a consolidation, merger or
binding share exchange or a sale, assignment, conveyance, transfer, lease or other disposition of all or substantially all of the Company’s property and assets that does not also constitute a Fundamental Change, in each case pursuant to which
the Common Stock would be converted into cash, securities or other property. In such event, Holders will have the right to surrender Notes for conversion at any time from and including the 35th Scheduled Trading Day prior to the anticipated
effective date of such transaction to, and including, the 40th Scheduled Trading Day following the effective date of such transaction. To the extent commercially reasonably practicable, the Company will give notice to Holders of the anticipated
effective date for such transaction not less than 35 Scheduled Trading Days prior to the anticipated effective date or, if the Company does not have knowledge of such transaction or it determines, in its commercially reasonable discretion, that it
is impractical or inadvisable to disclose the anticipated effective date of such transaction at least 35 Scheduled Trading Days prior to the anticipated effective date, within one Business Day of the date upon which the Company receives notice, or
otherwise becomes aware, of such transaction, unless the 

  
 23 

 
Company determines, in its commercially reasonable discretion, that it is no longer impractical or inadvisable to disclose the anticipated effective date of such transaction (but in no event
later than the actual effective date of such transaction). Notwithstanding the foregoing, in no event will the Company be required to provide such notice to Holders before the earlier of (i) the actual effective date of such transaction and
(ii) the earlier of such time as the Company or its Affiliates (a) have publicly disclosed or acknowledged the circumstances giving rise to such anticipated transaction or (b) are required to publicly disclose under applicable law or
the rules of any stock exchange on which the Company’s equity is then listed the circumstances giving rise to such anticipated transaction. Neither the Trustee nor the Conversion Agent shall have any obligation (x) to determine whether a
corporate event described in this Section 4.01(b)(v) has occurred or (y) to verify the Company’s determination regarding such a corporate event. 

Section 4.02 Conversion Procedures. 

(a) Each Physical Note shall be convertible at the office of the Conversion Agent and, if applicable, in accordance with the
Applicable Procedures. 
 (b) To exercise the conversion privilege with respect to a beneficial interest in a Global Note,
the Holder must comply with the Applicable Procedures for converting, and effecting a book-entry transfer to the Conversion Agent of, a beneficial interest on a Global Note and pay the funds, if any, required by Section 4.02(f) and any taxes or
duties if required pursuant to Section 4.02(g), and the Conversion Agent must be informed of the conversion in accordance with the customary practice of the Depositary. 

To exercise the conversion privilege with respect to any Physical Notes, the Holder of such Physical Notes shall: 

(i) duly sign and complete a conversion notice in the form set forth in the Form of Notice of Conversion (the
“Conversion Notice”) or a facsimile of the Conversion Notice; 
 (ii) deliver the Conversion Notice, which
is irrevocable, and the Note to the Conversion Agent; 
 (iii) if required, furnish appropriate endorsements and transfer
documents; 
 (iv) if required, pay all transfer or similar taxes as set forth in Section 4.02(g); and 

(v) if required, make any payment required under Section 4.02(f). 

If, upon conversion of a Note, any shares of Common Stock are to be issued to a Person other than the Holder of such Note, the related
Conversion Notice shall include such other Person’s name and address. 
 If a Note has been submitted for repurchase pursuant to a
Fundamental Change Purchase Notice, such Note may not be converted except to the extent such Note has been withdrawn by the Holder and is no longer submitted for repurchase pursuant to a Fundamental Change Purchase Notice or unless such Fundamental
Change Purchase Notice is withdrawn in accordance with Section 3.07 prior to the relevant Fundamental Change Expiration Time. 
 For
any Note, the date on which the Holder of such Note satisfies all of the applicable requirements set forth above with respect to such Note shall be the “Conversion Date” with respect to such Note. 

Each conversion shall be deemed to have been effected as to any such Notes (or portion thereof) surrendered for conversion immediately prior
to the Close of Business on the applicable Conversion Date; provided, however, that except to the extent required by Section 4.04, the person in whose name any shares of Common Stock shall be issuable upon conversion, if any,
shall be treated as a stockholder of record (i) as of the Close of Business on the last VWAP Trading Day of the applicable Conversion Period in a Combination Settlement and (ii) as of the Close of Business on the Conversion Date in a
Physical Settlement. At the Close of Business on the Conversion Date for a Note, the converting Holder shall no longer be the Holder of such Note. 

  
 24 

 (c) Endorsement. Any Notes surrendered for conversion shall, unless shares
of Common Stock issuable on conversion are to be issued in the same name as the registration of such Notes, be duly endorsed by, or be accompanied by instruments of transfer in form satisfactory to the Company duly executed by, the Holder or its
duly authorized attorney. 
 (d) Physical Notes. If any Physical Notes in a denomination greater than $100 shall be
surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate and deliver to the Holder of the Physical Notes so surrendered, without charge, new Physical Notes in authorized denominations in an aggregate principal
amount equal to the unconverted portion of the surrendered Physical Notes. 
 (e) Global Notes. Upon the conversion of
a beneficial interest in Global Notes, the Conversion Agent shall make a notation in its records as to the reduction in the principal amount represented thereby. The Company shall notify the Trustee in writing of any conversions of Notes effected
through any Conversion Agent other than the Trustee. 
 (f) Interest Due Upon Conversion. If a Holder converts a Note
after the Close of Business on a Regular Record Date but prior to the Open of Business on the Interest Payment Date corresponding to such Regular Record Date, such Holder must accompany such Note with an amount of cash equal to the amount of
interest that will payable on such Note on the corresponding Interest Payment Date; provided, however, that a Holder need not make such payment (1) if the Conversion Date follows the Regular Record Date immediately preceding the
Maturity Date; (2) if the Company has specified a Fundamental Change Purchase Date that is after a Regular Record Date and on or prior to the corresponding Interest Payment Date; or (3) to the extent of any overdue interest, if any overdue
interest exists at the time of conversion with respect to such Note. 
 (g) Taxes Due upon Conversion. If a Holder
converts a Note, the Company will pay any documentary, stamp or similar issue or transfer tax due on the issue of any shares of the Common Stock upon the conversion, unless the tax is due because the Holder requests that any shares be issued in a
name other than the Holder’s name, in which case the Holder will pay that tax. The Conversion Agent may refuse to deliver the certificates representing the shares of Common Stock being issued in a name other than the Holder’s name until
the Trustee receives a sum sufficient to pay any tax that is due by such Holder in accordance with the immediately preceding sentence. 

(h) Notes may only be converted in multiples of $1,000 unless the beneficial Holder exercising the Notes is then converting all
the Notes it then holds. If a beneficial Holder seeks to convert Notes in a principal amount other than a multiple of $1,000 it will be deemed to make a representation that it is submitting for conversion all of the Notes it then holds. The Company
may request written representation of the same prior to the conversion of any Notes. 
 Section 4.03 Settlement Upon Conversion.

 (a) Settlement. Subject to this Section 4.03 and Sections 4.06 and 4.07, upon conversion of any Note, the
Company shall pay or deliver, as the case may be, to Holders, in full satisfaction of its conversion obligation under Section 4.01, in respect of each $100 principal amount of Notes being converted, a Settlement Amount consisting of, at the
election of the Company, solely cash (“Cash Settlement”), solely shares of Common Stock (together with cash in lieu of any fractional share of Common Stock pursuant to Section 4.03(b)) (“Physical Settlement”)
or a combination of cash and shares of Common Stock (“Combination Settlement”). 
 (i) Settlement
Election. All conversions occurring on or after [three months prior to maturity], 20[    ] shall be settled using the same Settlement Method. Prior to [three months prior to maturity], 20[    ], the
Company will use the same Settlement Method for all conversions occurring on the same Conversion Date, but the Company shall not have any obligation to use the same Settlement Method with respect to conversions that occur on different Conversion
Dates. If the Company elects a Settlement Method (a “Settlement Election”) and a Specified Dollar Amount, if applicable (a “Specified Dollar Amount Election”), the Company shall provide to the Holders so converting,
the Trustee and the Conversion Agent a notice of such Settlement Method (each such notice, a 

  
 25 

 
“Settlement Election Notice”) or such Specified Dollar Amount (each such notice, a “Specified Dollar Amount Election Notice”), no later than the Close of
Business on the second Trading Day immediately following the related Conversion Date (or, in the case of any conversions occurring on or after [three months prior to maturity] , 20[    ], no later than [three months prior to
maturity], 20[    ]). If the Company does not timely elect a Settlement Method, the Company shall no longer have the right to elect Cash Settlement or Physical Settlement, and the Company shall be deemed to have elected
Combination Settlement in respect of its Conversion Obligation, and the Specified Dollar Amount per $100 principal amount of Notes shall be deemed to be $100. If the Company elects Combination Settlement but does not timely notify converting Holders
of the Specified Dollar Amount per $100 principal amount of Notes, such Specified Dollar Amount will be deemed to be $100. 

In addition, the Company may, prior to [three months prior to maturity], 20[    ], at its option,
irrevocably elect Combination Settlement with a particular Specified Dollar Amount for all conversions subsequent to its notice to Holders thereof by notice of such election to Holders, the Trustee and the Conversion Agent. 

(ii) Settlement Amount. The cash, shares of Common Stock or combination of cash and shares of Common Stock in respect of
any conversion of Notes (the “Settlement Amount”) shall be computed as follows: 
 (A) if the Company
elects Physical Settlement, the Company shall deliver to the converting Holder, in respect of each $100 principal amount of its Notes being converted, a number of shares of Common Stock equal to the applicable Conversion Rate, together with cash in
lieu of any fractional shares of Common Stock pursuant to Section 4.03(b); 
 (B) if the Company elects (or is deemed
to have elected) Cash Settlement, the Company shall pay to the converting Holder, in respect of each $100 principal amount of its Notes being converted, cash in an amount equal to the sum of the Daily Conversion Values for each of the 25 consecutive
VWAP Trading Days during the related Conversion Period; and 
 (C) if the Company elects (or is deemed to have elected)
Combination Settlement, the Company shall pay or deliver, as the case may be, to the converting Holder, in respect of each $100 principal amount of its Notes being converted, an amount of cash and number of shares of Common Stock, if any, equal to
the sum of the Daily Settlement Amounts for each of the 25 consecutive VWAP Trading Days during the related Conversion Period. 

(iii) Delivery Obligation. The Settlement Amounts upon conversion of the Notes will, in the case of cash be paid, by the
Company through the Conversion Agent and in the case of Common Stock, be delivered by the Company through its stock transfer agent. The Company shall pay or deliver, as the case may be, the Settlement Amount due in respect of its conversion
obligation under this Section 4.03, (i) on the third Business Day immediately following the relevant Conversion Date, if the Company elects Physical Settlement, unless such Conversion Date occurs following the regular record date immediately
preceding the Maturity Date, in which case the Company will make such delivery (and payment, if applicable) on the Maturity Date and (ii) on the third Business Day immediately following the last VWAP Trading Day of the related Conversion
Period, in any other case; provided, however, that if prior to the Conversion Date for any converted Notes, the Common Stock has been replaced by Reference Property consisting solely of cash, the Company will pay the conversion
consideration due in respect of such conversion on the tenth Trading Day immediately following the related Conversion Date, and, notwithstanding the foregoing in this Section 4.03, no Conversion Period will apply to those conversions. For the
avoidance of doubt, in the case of Cash Settlement or Combination Settlement, if a VWAP Market Disruption Event occurs on a Scheduled Trading Day during the Conversion Period, or if such Scheduled Trading day is not a Trading Day for any other
reason, then the Daily Conversion Value or Daily Settlement Amount, as applicable, will be determined on the next following Trading Day, and delivery of the Settlement Amount will be delayed accordingly. No interest will accrue on account of such
delay. 

  
 26 

 (b) Fractional Shares. Notwithstanding the foregoing, the Company will not
issue fractional shares of Common Stock as part of the Settlement Amount due with respect to any converted Note. Instead, if any Settlement Amount includes a fraction of a share of the Common Stock, the Company will, in lieu of delivering such
fraction of a share of Common Stock, pay an amount of cash equal to the product of such fraction of a share and (i) in a Physical Settlement, the Daily VWAP on the relevant Conversion Date, or if such Conversion Date is not a VWAP Trading Day,
the immediately preceding VWAP Trading Day or (ii) in the case of any other Settlement Method, the Daily VWAP on the last VWAP Trading Day of the relevant Conversion Period (subject to Section 4.03(c) immediately below). 

(c) Conversion of Multiple Notes by a Single Holder. If a Holder surrenders more than one Note for conversion on a
single Conversion Date, the Company will calculate the amount of cash and the number of shares of Common Stock due with respect to such Notes as if such Holder had surrendered for conversion one Note having an aggregate principal amount equal to the
sum of the principal amounts of each of the Notes surrendered for conversion by such Holder on such Conversion Date or, if the Notes surrendered for conversion are beneficial interests in a Global Note, based on such other aggregate number of Notes,
or beneficial interests therein, being surrendered by the Holder for conversion on the same date as the Depositary may otherwise request. 

(d) Settlement of Accrued Interest and Deemed Payment of Principal. If a Holder converts a Note, the Company will not
adjust the Conversion Rate to account for any accrued and unpaid interest on such Note, and the Company’s delivery or payment, as the case may be, of cash, shares of Common Stock or a combination of cash and shares of Common Stock into which a
Note is convertible will be deemed to satisfy and discharge in full the Company’s obligation to pay the principal of, and accrued and unpaid interest, if any, on, such Note to, but excluding, the Conversion Date; provided,
however, that subject to Section 4.02(f), if a Holder converts a Note after the Close of Business on a Regular Record Date and prior to the Open of Business on the corresponding Interest Payment Date, the Company will still be obligated
to pay the interest due on such Interest Payment Date to the Holder of such Note on such Regular Record Date. 
 As a result, except as
otherwise provided in the proviso to the immediately preceding sentence, any accrued and unpaid interest with respect to a converted Note will be deemed to be paid in full rather than cancelled, extinguished or forfeited. In addition, if the
Settlement Amount for any Note includes both cash and shares of Common Stock, accrued and unpaid interest will be deemed to be paid first out of the amount of cash delivered upon such conversion. 

(e) Notices. Whenever a Conversion Date occurs with respect to a Note, the Conversion Agent will, as promptly as
possible, and in no event later than the Business Day immediately following such Conversion Date, deliver to the Company and the Trustee, if it is not then the Conversion Agent, notice that a Conversion Date has occurred, which notice will state
such Conversion Date, the principal amount of Notes converted on such Conversion Date and the names of the Holders that converted Notes on such Conversion Date. 

On the first Business Day immediately following the last VWAP Trading Day of the Conversion Period applicable to any Note
surrendered for conversion in a Cash Settlement or a Combination Settlement, the Company will deliver a written notice to the Conversion Agent and the Trustee (if not also the Conversion Agent) stating the amount of cash and the number of shares of
Common Stock, if any, that the Company is obligated to pay or deliver, as the case may be, to satisfy its conversion obligation with respect to each Note converted on such Conversion Date. 

(f) Exchange in Lieu of Conversion. When a Holder surrenders Notes for conversion, the Company may, at its election,
direct the Conversion Agent to surrender, on or prior to the first Business Day immediately following the Conversion Date, such Notes to a financial institution designated by the Company for exchange in lieu of conversion. In order to accept any
Notes surrendered for conversion, the designated financial institution must agree to pay and/or deliver, as the case may be, in exchange for such Notes, the Settlement Amount that the Company would be obligated to deliver upon the conversion of such
Notes at the time the Company would otherwise be required to deliver such consideration. By the Close of 

  
 27 

 
Business on the Business Day immediately following the Conversion Date, the Company will notify the Holder surrendering Notes for conversion, the Trustee and the Conversion Agent that it has
directed the designated financial institution to make an exchange in lieu of conversion and that the designated financial institution has agreed to make such exchange in lieu of conversion. A copy of such notice shall include wire instructions and
delivery instructions and shall be delivered to the conversion agent and to the designated institution. 
 (i) If the
designated institution accepts any such Notes, it will deliver the amount of cash, if any, and the number of shares of Common Stock, if any, due upon conversion of such Notes directly to the Holder of such Notes no later than 11:00 a.m., New York
City time, on the date the Company would have otherwise been required to deliver such consideration. In the case of Notes held through the Depositary, the designated institution shall (a) wire such cash, if any, to the Holder, (b) process
a transfer to such Holder of such number of shares of Common Stock. Notes exchanged by the designated institution will remain outstanding. If the designated institution agrees to accept any Notes for exchange in lieu of conversion but does not
timely deliver the related consideration, or if such designated institution does not accept the Notes for exchange, the Company will deliver the relevant consideration to the Holder on the applicable settlement date therefor as if the Company had
not made an exchange in lieu of conversion election. 
 (ii) The Company’s designation of a financial institution to
which the Notes may be submitted for exchange does not require the financial institution to accept any Notes. The Company will not pay any consideration to, and the Company may, but will not be obligated to, otherwise enter into any agreement with,
the designated institution for or with respect to such designation. 
 Section 4.04 Adjustment of Conversion Rate. The
Conversion Rate will be adjusted as described in this Section 4.04, except that no adjustment to the Conversion Rate will be made for a given transaction if Holders of the Notes will participate in that transaction, without conversion of the
Notes, on the same terms and at the same time as a holder of a number of shares of Common Stock equal to the principal amount of a Holder’s Notes (expressed in thousands) multiplied by the Conversion Rate would participate. 

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

CR1 = CR0 x   OS1 

                       OS0 
 where, 
  

	 	CR0 =	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date of such dividend or distribution, or immediately prior to the Open of Business on the effective date of such share split or
combination, as applicable; 

  

	 	CR1 =	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date of such dividend or distribution, or immediately after the Open of Business on the effective date of such share split or
combination, as applicable; 

  

	 	OS0 =	the number of shares of Common Stock outstanding immediately prior to the Open of Business on such Ex-Dividend Date of such dividend or distribution, or immediately prior to the Open of Business on the effective date of
such share split or combination, as applicable; and 

  

	 	OS1 =	the number of shares of Common Stock outstanding immediately after giving effect to such dividend or distribution, or immediately after the effective date of such subdivision or combination of common stock, as the case
may be. 

 Any adjustment made under this clause (a) will become effective immediately after the Open of Business on the
Ex-Dividend Date for such dividend or distribution (regardless of whether the dividend or distribution is 

  
 28 

 
scheduled to occur after the Maturity Date), or immediately after the Open of Business on the effective date of such subdivision or combination of Common Stock, as the case may be. If such
dividend, distribution, subdivision or combination described in this clause (a) is declared but not so paid or made, the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors or a duly authorized
committee thereof determines not to pay such dividend or distribution or to effect such subdivision or combination, to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared or subdivision or
combination had not been announced. 
 (b) If an Ex-Dividend Date occurs for a distribution to all or substantially all
holders of the Common Stock any rights, options or warrants entitling them, for a period of not more than 60 calendar days from the announcement date for such distribution, to subscribe for or purchase shares of the Common Stock, at a price per
share less than the average of the Closing Sale Prices of the Common Stock for the 10 consecutive Trading-Day period ending on, and including, the Trading Day immediately preceding the announcement date for such distribution, the Conversion Rate
will be increased based on the following formula 
  

							
		 	CR1 = CR0 x 	 	OS0 + X	  	
	 	 	OS0 + Y	  	

  

	 	CR0 =	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such distribution; 

  

	 	CR1 =	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date for such distribution; 

  

	 	OS0 =	the number of shares of Common Stock outstanding immediately prior to the Open of Business on such Ex-Dividend Date for such distribution; 

 

	 	X =	the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and 

  

	 	Y =	the number of shares of Common Stock equal to the aggregate price payable to exercise such rights, options or warrants divided by the average of the Closing Sale Prices of the Common Stock over the 10 consecutive
Trading-Day period ending on, and including, the Trading Day immediately preceding the announcement date for such distribution. 

Any increase made under this clause (b) will be made successively whenever any such rights, options or warrants are issued and will become
effective immediately after the Open of Business on the Ex-Dividend Date for such distribution, regardless of whether the distribution date is scheduled to occur after the Maturity Date. To the extent that such rights, options or warrants expire
prior to the Maturity Date and shares of Common Stock are not delivered after the expiration of such rights, options or warrants, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect had the increase with
respect to the issuance of such rights, options or warrants been made on the basis of delivery of only the number of shares of Common Stock actually delivered. If such rights, options or warrants were scheduled to be distributed prior to the
Maturity Date and are not so distributed, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if the Ex-Dividend Date for such distribution had not occurred. 

For purposes of this Section 4.04(b) and Section 4.01(b)(iii)(x), in determining whether any rights, options or warrants entitle the
holders to subscribe for or purchase shares of Common Stock at a price that is less than the average of the Closing Sale Prices of the Common Stock for each Trading Day in the applicable 10 consecutive Trading-Day period, there shall be taken into
account any consideration the Company receives for such rights, options or warrants and any amount payable on exercise thereof, with the value of such consideration, if other than cash, to be determined in good faith by the Board of Directors or a
duly authorized committee thereof. 
 (c) If an Ex-Dividend Date occurs for a distribution (the “Relevant
Distribution”) of shares of the Company’s Capital Stock, evidences of the Company’s indebtedness or other assets or property of the 

  
 29 

 
Company’s or rights, options or warrants to acquire the Company’s Capital Stock or other securities, to all or substantially all holders of Common Stock (excluding (i) dividends or
distributions and rights, options or warrants as to which an adjustment was effected under clause (a) or (b) above; (ii) dividends or distributions paid exclusively in cash; and (iii) Spin-Offs), then the Conversion Rate will be
increased based on the following formula: 
  

			
	CR1 = CR0 x	 	      SP0      
	 	SP0 - FMV

 where, 
  

	 	CR0 =	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such distribution; 

  

	 	CR1 =	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date for such distribution; 

  

	 	SP0 =	the average of the Closing Sale Prices of the Common Stock over the 10 consecutive Trading Day-period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and

  

	 	FMV =	the fair market value (as determined in good faith by the Board of Directors or a duly authorized committee thereof) of the shares of Capital Stock, evidences of indebtedness, assets or property or rights, options or
warrants distributed with respect to each outstanding share of Common Stock as of the Open of Business on the Ex-Dividend Date for such distribution. 

Any increase made under the above portion of this clause (c) will become effective immediately after the Open of Business on the
Ex-Dividend Date for such distribution. No adjustment pursuant to the above formula will result in a decrease of the Conversion Rate. However, if such distribution is scheduled to be paid or made prior to the Maturity Date and is not so paid or
made, the Conversion Rate shall be decreased to be the Conversion Rate that would then be in effect if such distribution had not been declared. 

Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, in respect of each $100 principal amount thereof, at the same time and upon the same terms as
holders of the Common Stock, without having to convert its Notes, the amount and kind of the Relevant Distribution that such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate in effect on
the Ex-Dividend Date for the distribution. In the case of rights, options or warrants, if such rights, options or warrants are not so issued, or if no such rights, options or warrants are exercised prior to their expiration, the Conversion Rate
shall be decreased to be the Conversion Rate that would then be in effect if the Ex-Dividend Date for the distribution of such rights, options or warrants had not occurred. 

With respect to an adjustment pursuant to this clause (c) where there has been an Ex-Dividend Date for a dividend or other distribution on
the Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to a subsidiary or other business unit, that are, or, when issued, will be, listed or admitted for trading on a U.S. national securities
exchange (a “Spin-Off”), the Conversion Rate will be increased based on the following formula: 
  

							
		  	CR1 = CR0 x	  	    FMV0 + MP0        	  	
	  	  	            MP0	  	

 where, 
  

	 	CR0 =	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such Spin-Off; 

  
 30 

	 	CR1 =	the Conversion Rate in effect immediately after the Open of Business on the Ex-Dividend Date for such Spin-Off; 

  

	 	FMV0 =	the average of the Closing Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of the Common Stock over the first 10 consecutive Trading-Day
period commencing on, and including, the Ex-Dividend Date for the Spin-Off (such period, the “Valuation Period”); and 

  

	 	MP0 =	the average of the Closing Sale Prices of Common Stock over the Valuation Period. 

 The
adjustment to the applicable conversion rate under the preceding paragraph of this clause (c) will be determined on the last day of the Valuation Period but will be given effect immediately after the Open of Business on the Ex-Dividend Date for
the Spin-Off. If the Ex-Dividend Date for the Spin-Off is less than 10 Trading Days prior to, and including, the end of the Conversion Period in respect of any conversion, references within this clause (c) to 10 Trading Days shall be deemed to
be replaced, solely in respect of that conversion, with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend Date for the Spin-Off to, and including, the last VWAP Trading Day of such Conversion Period. In respect
of any conversion during the Valuation Period for any Spin-Off, references within this clause (c) related to 10 Trading Days shall be deemed to be replaced, solely in respect of that conversion, with such lesser number of Trading Days as have
elapsed from, and including, the Ex-Dividend Date for such Spin-Off to, but excluding, the relevant Conversion Date. 
 For purposes of the
second adjustment formula set forth in this Section 4.04(c), (i) the Closing Sale Price of any Capital Stock or similar equity interest shall be calculated in a manner analogous to that used to calculate the Closing Sale Price of the
Common Stock in the definition of “Closing Sale Price” set forth in Section 1.01, (ii) whether a day is a Trading Day (and whether a day is a Scheduled Trading Day and whether a Market Disruption Event has occurred) for such
Capital Stock or similar equity interest shall be determined in a manner analogous to that used to determine whether a day is a Trading Day (or whether a day is a Scheduled Trading Day and whether a Market Disruption Event has occurred) for the
Common Stock, and (iii) whether a day is a Trading Day to be included in a Valuation Period will be determined based on whether a day is a Trading Day for both the Common Stock and such Capital Stock or similar equity interest. 

Subject to Section 4.04(g), for the purposes of this Section 4.04(c), rights, options or warrants distributed to all or substantially
all holders of the Common Stock entitling them to acquire the Company’s Capital Stock or other securities, (either initially or under certain circumstances), which rights, options or warrants, until the occurrence of a specified event or events
(a “Trigger Event”): (1) are deemed to be transferred with such shares of Common Stock; (2) are not exercisable; and (3) are also issued in respect of future issuances of Common Stock, shall be deemed not to have been
distributed for purposes of this Section 4.04(c) (and no adjustment to the Conversion Rate under this Section 4.04(c) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall be
deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate shall be made under this Section 4.04(c). If any such rights, options or warrants, distributed prior to the Issue Date are subject to
events, upon the occurrence of which such rights, options or warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be
the date of distribution and Ex-Dividend Date of such deemed distribution (in which case the original rights, options or warrants shall be deemed to terminate and expire on such date without exercise by any of the holders). In addition, in the event
of any distribution or deemed distribution of rights, options or warrants, or any Trigger Event or other event (of the type described in the preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount
for which an adjustment to the Conversion Rate under this Section 4.04(c) was made, (1) in the case of any such rights, options or warrants which shall all have been redeemed or purchased without exercise by any Holders thereof, upon such
final redemption or purchase (x) the Conversion Rate shall be readjusted as if such rights, options or warrants had not been issued and (y) the Conversion Rate shall then again be readjusted to give effect to such distribution, deemed
distribution or Trigger Event, as the case may be, as 

  
 31 

 
though it were a cash distribution, equal to the per share redemption or purchase price received by holders of Common Stock with respect to such rights, options or warrants (assuming each such
holder had retained such rights, options or warrants), made to all holders of Common Stock as of the date of such redemption or purchase, and (2) in the case of such rights, options or warrants which shall have expired or been terminated
without exercise by any holders thereof, the Conversion Rate shall be readjusted as if such rights and warrants had not been issued. 
 For
purposes of Sections 4.04(a) through (c), if any dividend or distribution to which this Section 4.04(c) applies includes one or both of: 

(A) a dividend or distribution of shares of Common Stock to which Section 4.04(a) also applies (the “Clause A
Distribution”); or 
 (B) an issuance of rights, options or warrants entitling holders of the Common Stock to
subscribe for or purchase shares of the Common Stock to which Section 4.04(b) also applies (the “Clause B Distribution”), 

then (i) such dividend or distribution, other than the Clause A Distribution and the Clause B Distribution, shall be deemed to
be a distribution to which this Section 4.04(c) applies (the “Clause C Distribution”) and any Conversion Rate adjustment required to be made under this Section 4.04(c) with respect to such Clause C Distribution
shall be made, (ii) the Clause B Distribution, if any, shall be deemed to immediately follow the Clause C Distribution and any Conversion Rate adjustment required by Section 4.04(b) with respect thereto shall then be made, except
that, if determined by the Company, (A) the “Ex-Dividend Date” of the Clause B Distribution and the Clause A Distribution, if any, shall be deemed to be the Ex-Dividend Date of the Clause C Distribution and (B) any
shares of Common Stock included in the Clause A Distribution or the Clause B Distribution shall not be deemed to be “outstanding immediately prior to the Open of Business on such Ex-Dividend Date” within the meaning of
Section 4.04(b), and (iii) the Clause A Distribution, if any, shall be deemed to immediately follow the Clause C Distribution or the Clause B Distribution, as the case may be, except that, if determined by the Company,
(A) the “Ex-Dividend Date” of the Clause A Distribution and the Clause B Distribution, if any, shall be deemed to be the Ex-Dividend Date of the Clause C Distribution, and (B) any shares of Common Stock included in
the Clause A Distribution shall not be deemed to be “outstanding immediately prior to the Open of Business on such Ex-Dividend Date or such effective date” within the meaning of Section 4.04(a). 

(d) If an Ex-Dividend Date occurs for a cash dividend or distribution to all, or substantially all, holders of the outstanding
Common Stock (other than any dividend or distribution in connection with the Company’s liquidation, dissolution or winding up), the Conversion Rate will be increased based on the following formula: 

 

			
	CR1 = CR0 x	  	        SP0        
	  	        SP0 - C

 where, 
  

	 	CR0 =	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such dividend or distribution; 

  

	 	CR1  =	the Conversion Rate in effect immediately after the Open of Business on the Ex-Dividend Date for such dividend or distribution; 

  

	 	SP0 =	the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and 

 

	 	C =	the amount in cash per share that the Company pays or distributes to substantially all holders of the Common Stock. 

Any increase made under this clause (d) shall become effective immediately after the Open of Business on the Ex-Dividend date for such
dividend or distribution. No adjustment pursuant to the above formula will 

  
 32 

 
result in a decrease of the Conversion Rate. However, if any dividend or distribution described in this clause (d) is scheduled to be paid or made prior to the Maturity Date but is not so
paid or made, the new Conversion Rate shall be readjusted to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 

Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, for each $100 principal amount of Notes, at the same time and upon the same terms as holders of
shares of the Common Stock, without having to convert its Notes, the amount of cash that such Holder would have received if such Holder owned a number of shares of Common Stock equal to the applicable Conversion Rate on the Ex-Dividend Date for such
cash dividend or distribution. 
 (e) If the Company or any of its Subsidiaries makes a payment in respect of a tender or
exchange offer for the Common Stock, and if the cash and value of any other consideration included in the payment per share of Common Stock exceeds the average of the Closing Sale Prices of the Common Stock over the 10 consecutive Trading-Day period
commencing on, and including, the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer (the “Offer Expiration Date”), the Conversion Rate will be increased
based on the following formula: 
  

			
	CR1 = CR0 x	  	    AC + (SP1 x OS1)    
		  	          OS0 x SP1

 where, 
  

	 	CR0 =	the Conversion Rate in effect immediately prior to the Open of Business on the Trading Day next succeeding the Offer Expiration Date; 

 

	 	CR1 =	the Conversion Rate in effect immediately after the Open of Business on the Trading Day next succeeding the Offer Expiration Date; 

  

	 	AC =	the aggregate value of all cash and any other consideration (as determined in good faith by the Board of Directors or a duly authorized committee thereof) paid or payable for shares of Common Stock purchased in such
tender or exchange offer; 

  

	 	OS0 =	the number of shares of Common Stock outstanding immediately prior to the time (the “Offer Expiration Time”) such tender or exchange offer expires (prior to giving effect to such tender or exchange
offer); 

  

	 	OS1 =	the number of shares of Common Stock outstanding immediately after the Offer Expiration Time (after giving effect to the purchase of all shares accepted for purchase or exchange in such tender or exchange offer); and

  

	 	SP1 =	the average of the Closing Sale Prices of the Common Stock over the 10 consecutive Trading-Day period commencing on, and including, the Trading Day next succeeding the Offer Expiration Date. 

The adjustment to the Conversion Rate under the preceding paragraph of this clause (e) will be determined at the Close of Business on the
tenth Trading Day immediately following, but excluding, the Offer Expiration Date but will be given effect at the Open of Business on the Trading Day next succeeding the Offer Expiration Date. If the Trading Day next succeeding the Offer Expiration
Date is less than 10 Trading Days prior to, and including, the end of the Conversion Period in respect of any conversion, references within this clause (e) to 10 Trading Days shall be deemed to be replaced, solely in respect of that conversion,
with such lesser number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the Offer Expiration Date to, and including, the last VWAP Trading Day of such conversion period. In respect of any conversion during the 10
Trading Days commencing on, and including, the Trading Day next succeeding the Offer Expiration Date, references within this clause (e) to 10 Trading Days shall be deemed to be replaced, solely in respect of that conversion, with such lesser
number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the Offer Expiration 

  
 33 

 
Date to, but excluding, the relevant Conversion Date. No adjustment pursuant to the above formula will result in a decrease of the Conversion Rate. 

(f) Special Settlement Provisions. Notwithstanding anything to the contrary herein, if a Holder converts a Note in a
Combination Settlement, and the Daily Settlement Amount for any VWAP Trading Day during the Conversion Period applicable to such Note: 

(i) is calculated based on a Conversion Rate adjusted on account of any event described in Sections 4.04(a) through (e); and

 (ii) includes any shares of Common Stock that, but for this provision, would entitle their holder to participate in such
event; 
 then, although the Company will otherwise treat such Holder as the holder of record of such shares of Common Stock on the last VWAP
Trading Day of such Conversion Period, the Company will not permit such Holder to participate in such event on account of such shares of Common Stock. 

In addition, notwithstanding anything to the contrary herein, if a Holder converts a Note and: 

(i) Combination Settlement is applicable to such Note and shares of Common Stock are deliverable to settle the Daily Net Share
Settlement Number for a given Trading Day within the Conversion Period applicable to such Note; 
 (ii) any distribution,
transaction or event described in Sections 4.04(a)-(e) has not yet resulted in an adjustment to the applicable Conversion Rate on such Trading Day; and 

(iii) the shares of Common Stock deliverable in respect of such Trading Day are not entitled to participate in the relevant
distribution or transaction (because such shares of Common Stock were not held on a related Record Date or otherwise), 
 then the Company
will adjust the number of shares of Common Stock delivered in respect of the relevant Trading Day to reflect the relevant distribution or transaction. 

If a Holder converts a Note and: 

(i) Physical Settlement is applicable to such Note; 

(ii) any distribution or transaction described in Sections 4.04(a)-(e) has not yet resulted in an adjustment to the
applicable Conversion Rate on a given Conversion Date; and 
 (iii) the shares of Common Stock deliverable on settlement of
the related conversion are not entitled to participate in the relevant distribution or transaction (because such shares of Common Stock were not held on a related Record Date or otherwise), 

then the Company will adjust the number of shares of Common Stock delivered in respect of the relevant Trading Day to reflect the relevant
distribution or transaction. Notwithstanding the foregoing, if a Conversion Rate adjustment becomes effective on any Ex-Dividend Date as described above, and a Holder that has converted its Notes on or after such Ex-Dividend Date and on or prior to
the related Record Date would be treated as the record holder of shares of Common Stock as of the related Conversion Date pursuant to Section 4.03 based on an adjusted Conversion Rate for such Ex-Dividend Date, then, notwithstanding the
foregoing Conversion Rate adjustment provisions, the Conversion Rate adjustment relating to such Ex-Dividend Date will not be made for such converting Holder. Instead, such Holder will be treated as if such Holder were the record owner of the shares
of Common Stock on an unadjusted basis and participate in the related dividend, distribution or other event giving rise to such adjustment. 

(g) Poison Pill. If a Holder converts a Note, to the extent that the Company has a rights plan in effect, if Physical
Settlement applies to such Note, on the Conversion Date applicable to such Note, and if Combination Settlement applies to such Note on any VWAP Trading Day in the Conversion Period applicable to such Note, the Holder converting such Note will
receive, in addition to any shares of Common Stock otherwise received in connection with such conversion on such Conversion Date or such VWAP 

  
 34 

 
Trading Day, as the case may be, the rights under the rights plan, unless prior to such Conversion Date or such VWAP Trading Day, as the case may be, the rights have separated from the Common
Stock, in which case, and only in such case, the Conversion Rate will be adjusted at the time of separation as if the Company distributed to all holders of the Common Stock, Distributed Property as described in Section 4.04(c), subject to
readjustment in the event of the expiration, termination or redemption of such rights. 
 (h) Deferral of Adjustments.
Notwithstanding anything to the contrary herein, the Company will not be required to adjust the Conversion Rate unless such adjustment would require an increase or decrease of at least one percent; provided, however, that any such minor
adjustments that are not required to be made will be carried forward and taken into account in any subsequent adjustment, and provided, further, that any such adjustment of less than one percent that has not been made shall be made upon the
occurrence of (i) the Effective Date for any Fundamental Change or Make-Whole Fundamental Change (ii) in the case of any Note to which Physical Settlement applies, the Conversion Date, and, in the case of any Note to which Cash Settlement
or Combination Settlement applies, each VWAP Trading Day of the applicable Conversion Period and (iii) every one year anniversary of the date hereof. In addition, the Company shall not account for such deferrals when determining whether any of
the conditions to conversion have been satisfied or what number of shares of Common Stock a Holder would have held on a given day had it converted its Notes. 

(i) Limitation on Adjustments. Except as stated in this Section 4.04, the Company will not adjust the Conversion
Rate for the issuance of shares of Common Stock or any securities convertible into or exchangeable for shares of Common Stock or the right to purchase shares of Common Stock or such convertible or exchangeable securities. If, however, the
application of the formulas in Sections 4.04(a) through (e) would result in a decrease in the Conversion Rate, then, except to the extent of any readjustment to the Conversion Rate, no adjustment to the Conversion Rate will be made (other than
as a result of a reverse share split or share combination). 
 In addition, notwithstanding anything to the contrary herein, the Conversion
Rate will not be adjusted: 
 (i) upon the issuance of any shares of Common Stock pursuant to any present or future plan
providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock under any present or future employee, director or consultant benefit plan or
program of or assumed by the Company or any of the Company’s subsidiaries; 
 (ii) upon the issuance of any shares of
Common Stock or options or rights to purchase those shares pursuant to any present or future employee, director or consultant benefit plan, program or agreement or employee stock purchase plan of or assumed by the Company or any of its Subsidiaries;

 (iii) upon the issuance of any shares of Common Stock pursuant to any option, warrant, right or exercisable, exchangeable
or convertible security not described in Section 4.04(i)(ii) immediately above and outstanding as of the date the Notes were first issued; 

(iv) for a change in the par value of the Common Stock; or 

(v) for accrued and unpaid interest on the Notes, if any. 

For purposes of this Section 4.04, the number of shares of Common Stock at any time outstanding shall not include shares held in the
treasury of the Company so long as the Company does not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company, but shall include shares issuable in respect of scrip certificates issued in lieu of
fractions of shares of Common Stock. 
 Section 4.05 Discretionary and Voluntary Adjustments. 

(a) Discretionary Adjustments. Whenever any provision of this Indenture requires the Company to calculate the Closing
Sale Prices, the Daily VWAPs or any function thereof over a span of multiple days (including during an Conversion Period), the Company will make appropriate adjustments to each, if any, to account for any adjustment to the Conversion Rate that
becomes effective, or any event requiring an adjustment to the Conversion Rate where the effective date, Ex-Dividend Date or Offer Expiration Date of 

  
 35 

 
the event occurs, at any time during the period when such Closing Sale Prices, the Daily VWAPs or function thereof is to be calculated. 

(b) Voluntary Adjustments. To the extent permitted by applicable law and applicable requirements of the Exchange, the
Company is permitted to increase the Conversion Rate of the Notes by any amount for a period of at least 20 Business Days if such increase is irrevocable for such period and the Board of Directors determines that such increase would be in the
Company’s best interest; provided that the Company must give at least 15 days’ prior notice of any such increase in the Conversion Rate. To the extent permitted by applicable law and applicable requirements of the Exchange, the Company may
also (but is not required to) increase the Conversion Rate to avoid or diminish income tax to holders of Common Stock or rights to purchase shares of Common Stock in connection with a dividend or distribution of shares (or rights to acquire shares)
or similar event. 
 Section 4.06 Adjustment to Conversion Rate Upon Conversion in Connection with a Make-Whole Fundamental
Change.6 
 (a) Increase in the Conversion Rate. If a
Make-Whole Fundamental Change occurs and a Holder elects to convert its Notes in connection with such Make-Whole Fundamental Change, then the Company shall, to the extent provided herein, increase the Conversion Rate for the Notes so surrendered for
conversion by a number of additional shares of Common Stock (the “Additional Shares”), as described in this Section 4.06. A conversion of Notes shall be deemed for these purposes to be “in connection with” a
Make-Whole Fundamental Change if the relevant Conversion Notice is received by the Conversion Agent during the period from, and including, the Effective Date of the Make-Whole Fundamental Change up to, and including, the Close of Business on the
Business Day immediately prior to the related Fundamental Change Purchase Date or, if such Make-Whole Fundamental Change is not also a Fundamental Change, the 35th Business Day immediately following the Effective Date for such Make-Whole Fundamental
Change (such period, the “Make-Whole Fundamental Change Period”). 
 (b) Cash Mergers.
Notwithstanding anything to the contrary herein, if the consideration paid to holders of the Common Stock in any Make-Whole Fundamental Change described in clause (2) of the definition of “Fundamental Change” is comprised entirely of
cash, then, for any conversion of Notes following the Effective Date of such Make-Whole Fundamental Change, the payment and delivery obligations upon the conversion of a Note shall be calculated based solely on the Stock Price for such Make-Whole
Fundamental Change and shall be deemed to be an amount equal to the applicable Conversion Rate (including any adjustment as described in this Section 4.06) multiplied by such Stock Price. In such event, the Company’s conversion obligation
will be determined and paid to Holders in cash on the third Business Day following the applicable Conversion Date. Otherwise, the Company will settle any conversion of the Notes following the Effective Date for a Make-Whole Fundamental Change in
accordance with Section 4.03 (but subject to Section 4.04). 
 (c) Determining the Number of Additional
Shares. The number of Additional Shares, if any, by which the Conversion Rate will be increased for a Holder that converts its Notes in connection with a Make-Whole Fundamental Change shall be determined by reference to the table attached as
Schedule A, based on the date on which the Make-Whole Fundamental Change occurs or becomes effective (the “Effective Date”), and the price (the “Stock Price”) paid (or deemed paid) per share of the
Common Stock in the Make-Whole Fundamental Change, as determined under the two immediately following sentences. If the holders of the Common Stock receive only cash in a Make-Whole Fundamental Change described in clause (2) of the definition of
“Fundamental Change,” the Stock Price shall be the cash amount paid per share of Common Stock. Otherwise, the Stock Price shall be the average of the Closing Sale Prices of the Common Stock over the 10 consecutive Trading-Day period ending
on, and including, the Trading Day immediately preceding the Effective Date of the Make-Whole Fundamental Change. 
  

	6 	The brackets will be filled in once the conversion price is determined based on the methodology of the Company’s May 2015 Convertible Notes Indentures. 

  
 36 

 (d) Interpolation and Limits. The exact Stock Prices and Effective Dates
may not be set forth in the table in Schedule A, in which case: 
 (i) If the Stock Price is between two Stock
Prices in the table or the Effective Date is between two dates in the table, the number of Additional Shares shall be determined by a straight-line interpolation between the number of Additional Shares set forth for the higher and lower Stock Prices
and the earlier and later dates, as applicable, based on a 365- or 366-day year, as applicable. 
 (ii) If the Stock Price is
greater than $[●] per share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table in Schedule A), no Additional Shares will be added to the Conversion Rate. 

(iii) If the Stock Price is less than $[●] per share (subject to adjustments in the same manner as the Stock Prices set
forth in the column headings of the table in Schedule A), no Additional Shares will be added to the Conversion Rate. 

Notwithstanding the foregoing, in no event will the Conversion Rate be increased on account of a Make-Whole Fundamental Change to exceed
[●] shares of Common Stock per $100 principal amount of Notes, subject to adjustments in the same manner as the Conversion Rate is required to be adjusted as set forth in Section 4.04. 

(iv) The Stock Prices set forth in the column headings of the table in Schedule A shall be adjusted as of any date
on which the Conversion Rate of the Notes is otherwise required to be adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the
Conversion Rate immediately prior to such adjustment giving rise to the Stock Price adjustment and the denominator of which is the Conversion Rate as so adjusted. The number of Additional Shares set forth in such table shall be adjusted in the same
manner and at the same time as the Conversion Rate is required to be adjusted as set forth in Section 4.04. 
 (e)
Notices. The Company will notify Holders, the Trustee and the Conversion Agent of the anticipated Effective Date of any Make-Whole Fundamental Change and issue a press release as soon as practicable after the Company first determines the
anticipated Effective Date of such Make-Whole Fundamental Change (and make the press release available on the Company’s website). The Company will use its commercially reasonable efforts to give notice to Holders of the anticipated Effective
Date of such Make-Whole Fundamental Change not more than 70 Scheduled Trading Days nor less than 35 Scheduled Trading Days prior to the anticipated Effective Date or, if the Company does not have knowledge of such Make-Whole Fundamental Change or
the Company determines, in its commercially reasonable discretion, that it is impractical or inadvisable to disclose the anticipated Effective Date of such Make-Whole Fundamental Change at least 35 Scheduled Trading Days prior to the anticipated
Effective Date, within one business day of the date upon which the Company receives notice, or otherwise becomes aware, of such Make-Whole Fundamental Change or receives notice, or otherwise becomes aware of, such Make-Whole Fundamental Change,
unless the Company determines, in its commercially reasonable discretion, that it is no longer impractical or inadvisable to disclose the anticipated Effective Date of such Make-Whole-Fundamental Change (but in no event later than the actual
Effective Date of such Make-Whole Fundamental Change). Notwithstanding the foregoing, in no event will the Company be required to provide such notice to Holders before the earlier of (i) the actual Effective Date of such Make-Whole Fundamental
Change and (ii) the earlier of such time as the Company or its Affiliates (a) have publicly disclosed or acknowledged the circumstances giving rise to such anticipated Make-Whole Fundamental Change or (b) are required to publicly
disclose under applicable law or the rules of any stock exchange on which the Company’s equity is then listed the circumstances giving rise to such Make-Whole Fundamental Change. 

  
 37 

 Section 4.07 Effect of Recapitalization, Reclassification, Consolidation, Merger or
Sale. 
 (a) Merger Events. In the case of: 

(i) any recapitalization, reclassification or change of the Common Stock (other than a change in par value, or from par value
to no par value, or from no par value to par value, or as a result of a split, subdivision or combination for which an adjustment was made pursuant to Section 4.04(a)); 

(ii) any consolidation, merger or combination involving the Company; 

(iii) any sale, lease or other transfer to a third party of the consolidated assets of the Company and its Subsidiaries
substantially as an entirety; 
 (iv) any binding share exchange; or 

(v) a liquidation or dissolution of the Company; 

and, in each case, as a result of which the Common Stock would be converted into, or exchanged for, common stock, other securities, other property or assets
(including cash or any combination thereof) (any such event, a “Merger Event,” any such common stock, other securities, other property or assets (including cash or any combination thereof), “Reference Property,” and
(i) the amount and kind of Reference Property that a holder of one share of Common Stock is entitled to receive in the applicable Merger Event, or (ii) if as a result of the applicable Merger Event, each share of Common Stock is converted
into, or exchanged for, the right to receive more than a single type of consideration (determined based in part upon any form of stockholder election), the per share of Common Stock weighted average of the amounts and kinds of Reference Property
received by the holders of Common Stock that affirmatively make such an election (disregarding, for these purposes, any arrangement to deliver cash in lieu of any fractional security or other unit of Reference Property), a “Unit of Reference
Property”) then, the Company or such successor or purchasing person shall enter into a supplemental indenture to provide that, at the effective time of such Merger Event, the consideration due upon conversion of any Notes will be determined
in the same manner as if each reference to any number of shares of Common Stock in this Article 4 were instead a reference to the same number of Units of Reference Property (it being understood that no adjustment will be made pursuant to Sections
4.04(a)-(e) with respect to any portion of Reference Property that does not consist of Capital Stock), and, prior to or at the effective time of such Merger Event, the Company or the successor or purchasing person, as the case may be, shall
execute with the Trustee a supplemental indenture (which shall comply with the Trust Indenture Act as in force at the date of execution of such supplemental indenture) providing for such change; provided, however, that at and after the
effective time of the Merger Event, (x) the Company will continue to have the right to determine the Settlement Method upon conversion of the Notes pursuant to Section 4.03(a)(i) and (y) (i) any amount payable in cash upon
conversion of the Notes in accordance with Section 4.03 and 4.06 shall continue to be payable in cash, (ii) the number of shares of Common Stock that the Company would have been required to deliver upon conversion of the Notes in
accordance with Section 4.03 and 4.06 shall instead be deliverable in Units of Reference Property and (iii) the Daily VWAP and the Closing Sale Price will, to the extent reasonably possible, be calculated based on the value of a Unit of
Reference Property and the definitions of VWAP Trading Day and VWAP Market Disruption Event shall be determined by reference to the components of a Unit of Reference Property. 

The Company shall not become a party to any Merger Event unless its terms are consistent with this Section 4.07. Such supplemental
indenture described in the immediately preceding paragraph shall provide for adjustments which shall be as nearly equivalent to the adjustments provided for in this Article 4 in the judgment of the Board of Directors or the board of directors of the
successor person. If, in the case of any such Merger Event, the Reference Property receivable thereupon by a holder of Common Stock includes shares of stock, securities or other property or assets (including cash or any combination thereof) of a
person other than the successor or purchasing person, as the case may be, in such Merger Event, then such indenture shall also be executed by such other person. 

(b) Notice of Supplemental Indentures. The Company shall cause written notice of the execution of such supplemental
indenture to be mailed to each Holder, at the address of such Holder as it appears on the 

  
 38 

 
register of the Notes maintained by the Registrar, within 20 calendar days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of such supplemental
indenture. The above provisions of this Section 4.07 shall similarly apply to successive Merger Events. Additionally, if the Company executes a supplemental indenture pursuant to this Section 4.07, it shall promptly file with the Trustee
an Officer’s Certificate (in addition to the documents that the Trustee is entitled to receive under Article 8) briefly stating the reasons therefor, the kind or amount of cash, securities or property or asset that will comprise a Unit of
Reference Property, any adjustment to be made with respect thereto and that all conditions precedent have been complied with. 

(c) Prior Notice. In addition, at least 20 Scheduled Trading Days before any Merger Event, the Company shall give notice
to Holders of such Merger Event, or, if the Company has not publicly announced such Merger Event at such time, as promptly as practicable after publicly announcing such Merger Event. In any such notice, the Company shall also specify the composition
of the Unit of Reference Property for such Merger Event, or, if the Company has not determined the composition of such Unit of Reference Property at such time, the Company will provide an additional written notice to Holders that states the
composition of such Unit of Reference Property as promptly as practicable after determining its composition. 
 Section 4.08 Certain
Covenants. 
 (a) Reservation of Shares. To the extent necessary to satisfy its obligations under this Indenture,
prior to issuing any shares of Common Stock, the Company will reserve out of its authorized but unissued shares of Common Stock a sufficient number of shares of Common Stock to permit the conversion of the Notes. 

(b) Certain other Covenants. The Company covenants that all shares of Common Stock that may be issued upon conversion of
Notes shall be newly issued shares or treasury shares, shall be duly authorized, validly issued, fully paid and non-assessable and shall be free from preemptive rights and free from any tax, lien or charge (other than those created by the Holder or
due to a change in registered owner). The Company shall list or cause to have quoted any shares of Common Stock to be issued upon conversion of Notes on each national securities exchange or over-the-counter or other domestic market on which the
Common Stock is then listed or quoted. 
 (c) [RESERVED]. 

Section 4.09 Responsibility of Trustee. 

The Trustee and any Conversion Agent shall not at any time be under any duty or responsibility to any Holder of Notes to determine or calculate
the Conversion Rate, to determine whether any facts exist which may require any adjustment of the Conversion Rate, or to confirm the accuracy of any such adjustment when made or the appropriateness of the method employed, or herein or in any
supplemental indenture provided to be employed, in making the same or to determine or verify whether any facts exist which make the Notes eligible for conversion or have caused the Notes to no longer be eligible for conversion. The Trustee and any
other Conversion Agent shall not be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock or of any other securities or property that may at any time be issued or delivered upon the conversion of any
Notes; and the Trustee and the Conversion Agent make no representations with respect thereto. Neither the Trustee nor any Conversion Agent shall be responsible for any failure of the Company or a designated institution to issue, transfer or deliver
any shares of Common Stock or stock certificates or other securities or property or cash upon the surrender of any Notes for the purpose of conversion or to comply with any of the duties, responsibilities or covenants of the Company contained in
this Article 4. The rights, privileges, protections, immunities and benefits given to the Trustee, including without limitation its right to be compensated, reimbursed and indemnified, are extended to, and shall be enforceable by, the Trustee in
each of its capacities hereunder, including its capacity as Conversion Agent. 
 Section 4.10 Notice of Adjustment to the
Trustee. Whenever the Conversion Rate is adjusted as herein provided, the Company shall promptly file with the Trustee and any Conversion Agent (if other than the Trustee) an Officer’s Certificate (upon which the Trustee and Conversion
Agent may conclusively rely) setting forth the 

  
 39 

 
Conversion Rate after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Unless and until a Responsible Officer of the Trustee shall have received such
Officer’s Certificate, the Trustee shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume that the last Conversion Rate of which it has knowledge is still in effect. Promptly after delivery of such
certificate, the Company shall prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date as of which each adjustment becomes effective and shall deliver such notice of such adjustment of the
Conversion Rate to the Holder of each Note at his or her last address appearing on the Register provided for in Section 2.06 of this Indenture, within 20 days after execution thereof. Failure to deliver such notice shall not affect the
legality, effectiveness or validity of any such adjustment and shall not be an Event of Default under this Indenture. 
 Section 4.11
Notice to Holders. 
 (a) Notice to Holders Prior to Certain Actions. The Company shall deliver notices of the
events specified below at the times specified below and containing the information specified below unless, in each case, (i) pursuant to this Indenture, the Company is already required to deliver notice of such event containing at least the
information specified below at an earlier time or, (ii) the Company, at the time it is required to deliver a notice, does not have knowledge of all of the information required to be included in such notice, in which case, the Company shall
(A) deliver notice at such time containing only the information that it has knowledge of at such time (if it has knowledge of any such information at such time), and (B) promptly upon obtaining knowledge of any such information not already
included in a notice delivered by the Company, deliver notice to each Holder with a copy to the Trustee containing such information. In each case, the failure by the Company to give such notice, or any defect therein, shall not affect the legality
or validity of such event. 
 (i) Voluntary Increases. If the Company increases the Conversion Rate pursuant to
Section 4.05(b), the Company shall mail to the Holders a notice of the increased Conversion Rate and the period during which such increased Conversion Rate will be in effect at least 15 calendar days prior to the date the increased Conversion
Rate takes effect, in accordance with the applicable law. 
 (ii) Dissolutions, Liquidations and Winding-Ups. If there
is a voluntary or involuntary dissolution, liquidation or winding-up of the Company, the Company shall deliver notice to the Holders as promptly as possible, but in any event at least 15 calendar days prior to the earlier of (i) the date on
which such dissolution, liquidation or winding-up, as the case may be, is expected to become effective or occur, and (ii) the date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their Common
Stock for securities or other property deliverable upon such dissolution, liquidation or winding-up, as the case may be, which notice shall state the expected effective date and record date for such event, as applicable, and the amount and kind of
property that a holder of one share of the Common Stock is expected to be entitled, or may elect, to receive in such event. The Company shall deliver an additional notice to holders, as promptly as practicable, whenever the expected effective date
or record date, as applicable, or the amount and kind of property that a holder of one share of the Common Stock is expect to be entitled to receive in such event, changes. 

(b) Notices After Certain Actions and Events. Whenever an adjustment to the Conversion Rate becomes effective pursuant
to Sections 4.04, 4.05 or 4.06, the Company will (i) file with the Trustee an Officer’s Certificate stating that such adjustment has become effective, the Conversion Rate, and the manner in which the adjustment was computed and
(ii) deliver written notice to the Holders stating that such adjustment has become effective and the Conversion Rate or conversion privilege as adjusted. Failure to give any such notice, or any defect therein, shall not affect the validity of
any such adjustment. 

  
 40 

 ARTICLE 5. 

COVENANTS 
 Section 5.01
Payment of Principal and Interest and the Fundamental Change Purchase Price. 
 The Company covenants and agrees that it will cause
to be paid the principal of (including the Fundamental Change Purchase Price), premium, if any, on and accrued and unpaid interest, if any, on each of the Notes at the places, at the respective times and in the manner provided herein and in the
Notes. 
 Section 5.02 Maintenance of Office or Agency. 

The Company will maintain in the continental United States an office of the Paying Agent, an office of the Registrar and an office or
agency where Notes may be surrendered for conversion (“Conversion Agent”) and where notices and demands to or upon the Company in respect of the Notes and this Indenture (other than the type contemplated by Section 12.14) may
be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to
furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office or the office or agency of the Trustee. 

The Company may also from time to time designate as co-registrars one or more other offices or agencies where the Notes may be presented or
surrendered for any or all such purposes and may from time to time rescind such designations; provided that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in the
continental United States for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. The terms “Paying Agent”
and “Conversion Agent” include any such additional or other offices or agencies, as applicable. 
 The Company hereby initially
designates the Trustee as the Paying Agent, Registrar, Conversion Agent, and its Corporate Trust Office shall be considered as one such office or agency of the Company for each of the aforesaid purposes. The Company or its Affiliates may act as
Paying Agent or Registrar. 
 With respect to any Global Note, the Corporate Trust Office of the Trustee or any Paying Agent shall be
the place of payment where such Global Note may be presented or surrendered for payment or conversion or for registration of transfer or exchange, or where successor Notes may be delivered in exchange therefor; provided, however, that
any such payment, conversion, presentation, surrender or delivery effected pursuant to the Applicable Procedures for such Global Note shall be deemed to have been effected at the place of payment for such Global Note in accordance with
the provisions of this Indenture. 
 Section 5.03 Provisions as to Paying Agent. 

(a) If the Company shall appoint a Paying Agent other than the Trustee, the Company will cause such Paying Agent to execute and
deliver to the Trustee an instrument in which such agent shall agree, subject to the provisions of this Section 5.03: 

(i) that it will hold all sums held by it as such agent for the payment of the principal of, any premium on, accrued and unpaid
interest, if any, on and Fundamental Change Purchase Price for the Notes in trust for the benefit of the Holders of the Notes; 

(ii) that it will give the Trustee prompt written notice of any failure by the Company to make any payment of the principal of,
any premium on, accrued and unpaid interest, if any, on or Fundamental Change Purchase Price for the Notes when the same shall be due and payable; and 

(iii) that at any time during the continuance of an Event of Default, upon request of the Trustee, it will forthwith pay to the
Trustee all sums so held in trust. 

  
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 The Company shall, on or before each due date of the principal of, any premium on, accrued and
unpaid interest, if any, on and Fundamental Change Purchase Price for the Notes, deposit with the Paying Agent a sum sufficient to pay such principal, premium, accrued and unpaid interest or Fundamental Change Purchase Price, as the case may be, and
(unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee in writing of any failure to take such action, provided that, if such deposit is made on the due date, such deposit must be received by the Paying Agent by 11:00
a.m., New York City time, on such date. 
 (b) If the Company shall act as its own Paying Agent, it will, on or before each
due date of the principal of, any premium on, accrued and unpaid interest, if any, on or Fundamental Change Purchase Price for the Notes, set aside, segregate and hold in trust for the benefit of the Holders of the Notes a sum sufficient to pay such
principal, any premium, accrued and unpaid interest, if any, or Fundamental Change Purchase Price, as the case may be, so becoming due and will promptly notify the Trustee in writing of any failure to take such action and of any failure by the
Company to make any payment of the principal of, premium on, accrued and unpaid interest on or Fundamental Change Purchase Price for the Notes when the same shall become due and payable. 

(c) Anything in this Section 5.03 to the contrary notwithstanding, the Company may, at any time, for the purpose of
obtaining a satisfaction and discharge of this Indenture, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by any Paying Agent hereunder as required by this Section 5.03, such sums to be held by the Trustee
upon the trusts herein contained and upon such payment by the any Paying Agent to the Trustee, such Paying Agent (if other than the Company) shall be released from all further liability with respect to such sums. 

(d) Subject to any applicable abandoned property law, any money deposited with the Trustee or any Paying Agent, or then held by
the Company, in trust for the payment of the principal of, any premium on, accrued and unpaid interest, if any, on or Fundamental Change Purchase Price for any Note and remaining unclaimed for two years after such principal, premium, accrued and
unpaid interest or Fundamental Change Purchase Price has become due and payable shall be paid to the Company on written request of the Company contained in an Officer’s Certificate, or (if then held by the Company) shall be discharged from such
trust; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the
Company as trustee thereof, shall thereupon cease; provided, however, that before the Trustee or such Paying Agent are required to make any such repayment, the Company shall cause to be published once, in a newspaper published in the
English language, customarily published on each Business Day and of general circulation in The Borough of Manhattan, The City of New York, New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not
be less than 30 calendar days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 

Section 5.04 Reports. 

The Company will furnish to the Trustee, within 15 calendar days after it is required to file the same with the Commission pursuant to
Section 13 or 15(d) of the Exchange Act. Any such report, information or document that the Company files with the Commission through the EDGAR system (or any successor thereto) will be deemed to be delivered to the Trustee for the purposes of
this Section 5.04 at the time of such filing through the EDGAR system (or such successor thereto). The Company shall comply with Section 314(a) of the Trust Indenture Act. 

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

  
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 Section 5.05 Statements as to Defaults. The Company is required to deliver to the
Trustee (i) within 120 days after the end of each fiscal year ending December 31, an Officer’s Certificate stating whether or not the signers thereof know of any default of the Company that occurred during the previous year and
whether the Company, to the Officer’s knowledge, is in default in the performance or observance of any of the terms, provisions and conditions of this Indenture and (ii) within 30 days after the occurrence thereof, written notice in the
form of an Officer’s Certificate of any events that would constitute Defaults or Events of Default, setting forth the details of such Defaults or Events of Default, their status and the action the Company is taking or proposes to take in
respect thereof. Such Officer’s Certificate shall also comply with any additional requirements set forth in Section 5.07. The Trustee shall not be deemed to have notice of any Default or Event of Default except in accordance with
Section 11.03(i). 
 Section 5.06 Additional Interest Notice. If Additional Interest is payable by the Company pursuant to
Section 6.03, the Company shall deliver to the Trustee and the Paying Agent an Officer’s Certificate, prior to the Regular Record Date for each applicable Interest Payment Date, to that effect stating (a) the amount of such Additional
Interest that is payable and (b) the date on which such interest is payable. Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such
Additional Interest is payable. The Trustee shall have no obligation to calculate or determine, or verify the Company’s calculations or determinations of, the amount of any Additional Interest payable by the Company under this Indenture. If the
Company has paid Additional Interest directly to the Persons entitled to it, the Company shall deliver to the Trustee an Officer’s Certificate setting forth the particulars of such payment. 

Section 5.07 Compliance Certificate and Opinions of Counsel. 

(a) Except as otherwise expressly provided in this Indenture, upon any application or request by the Company to the Trustee to
take any action under any provision of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been
complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such
documents is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished; provided that no Opinion of Counsel shall be required to be delivered
in connection with the issuance of the Initial Notes on the date hereof. 
 (b) Every certificate or opinion with respect to
compliance with a condition or covenant provided for in this Indenture shall include: 
 (i) a statement that each individual
signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 
 (ii)
a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

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

(iv) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 

(c) All applications, requests, certificates, statements or other instruments given under this Indenture shall be without
personal recourse to any individual giving the same and may include an express statement to such effect. 
 Section 5.08
Reserved. 

  
 43 

 Section 5.09 Corporate Existence. Subject to Article 9, the Company will do or
cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights (charter and statutory) and franchises; provided, however, that the Company shall not be required to preserve any such right or
franchise if, in the judgment of the Company, the preservation thereof is no longer desirable in the conduct of the business of the Company. 

Section 5.10 Restriction on Resales. The Company shall not, and shall procure that no “affiliate” (as defined under Rule
144) of the Company shall, resell any of the Notes that have been reacquired by the Company or any such “affiliate” (as defined under Rule 144). 

Section 5.11 Further Instruments and Acts. Upon request of the Trustee, the Company will execute and deliver such further
instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture. 

Section 5.12 Par Value Limitation. The Company shall not take any action that, after giving effect to any adjustment pursuant to
Article 4, would result in the issuance of shares of Common Stock for less than the par value of such shares of Common Stock. 

Section 5.13 Company to Furnish Trustee Names and Addresses of Holders. The Company will furnish or cause to be furnished to the
Trustee: 
 (a) semi-annually, not later than the 10th day after each Regular Record Date, a list, in such form as the
Trustee may reasonably require, containing all the information in the possession or control of the Company, or any of its Paying Agents other than the Trustee, of the names and addresses of the Holders, as of such preceding Regular Record Date, and

 (b) at such other times as the Trustee may request in writing, within 15 days after the receipt by the Company of any
such request, a list of similar form and content as of a date the Trustee may reasonably require. 
 ARTICLE 6. 

REMEDIES 
 Section 6.01
Events of Default. Each of the following events shall be an “Event of Default”: 
 (a) the
Company’s failure to pay the principal of or any premium, if any, on any Note when due and payable on the Maturity Date, upon declaration of acceleration or otherwise; 

(b) the Company’s failure to comply with its obligations under Article 4 to pay or deliver the Settlement Amount owing
upon conversion of any Note (including any Additional Shares or cash in lieu thereof) which failure continues for five Business Days; 

(c) the Company’s failure to pay any interest on any Note when due, and such failure continues for a period of 30 days;

 (d) the Company’s failure to pay the Fundamental Change Purchase Price when due; 

(e) the Company’s failure to issue a Fundamental Change Company Notice in accordance with the provisions of
Section 3.02(a), notice of a Make Whole Fundamental Change in accordance with the provisions of Section 4.06(e) or notice of a distribution in accordance with the provisions of Section 4.01(b)(iii); 

(f) the Company’s failure to perform any other covenant required by the Company in this Indenture (other than a covenant
or agreement a default in whose performance or whose breach is specifically addressed in Sections 6.01(a) through (e) above) and such failure continues for 60 days after written notice from the Trustee or the Holders of at least 25% in
principal amount of the Notes then Outstanding (a copy of which notice, if given by Holders, must also to be given to the Trustee) has been received by the Company; 

  
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 (g) any indebtedness for money borrowed by, or any other payment obligation of,
the Company or any of its Subsidiaries that is a Significant Subsidiary at such time (other than any non-recourse indebtedness of a special purpose Significant Subsidiary of the Company), in an outstanding principal amount, individually or in the
aggregate, in excess of $50.0 million (or its foreign currency equivalent at the time) is not paid at final maturity (or when otherwise due, after giving effect to any applicable grace period) or is accelerated; 

(h) the Company or any of its Subsidiaries that is a Significant Subsidiary at such time fails to pay one or more final and
non-appealable judgments entered by a court or courts of competent jurisdiction, the aggregate uninsured or unbonded portion of which is in excess of $50.0 million, provided that, no Event of Default will be deemed to occur under this clause
(g) if such judgments are paid, discharged or stayed within 30 days after the entry of such judgment; 
 (i) the Company
or any Significant Subsidiary of the Company (i) commences a voluntary case or other proceeding seeking the liquidation, reorganization or other relief with respect to the Company or such Significant Subsidiary or its debts under any
bankruptcy, insolvency or other similar law now or hereafter in effect; (ii) seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company or such Significant Subsidiary of the Company or any
substantial part of the Company’s or such Significant Subsidiary of the Company’s property, (iii) consents to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other
proceeding commenced against it, (iv) makes a general assignment for the benefit of creditors, or (v) fails generally to pay its debts as they become due; or 

(j) an involuntary case or other proceeding is commenced against the Company or any Significant Subsidiary of the Company
(i) seeking liquidation, reorganization or other relief with respect to the Company or such Significant Subsidiary of the Company or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or (ii) seeking
the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company or such Significant Subsidiary of the Company or any substantial part of its property, and such involuntary case or other proceeding remains
undismissed and unstayed for a period of 60 consecutive days. 
 Section 6.02 Acceleration; Rescission and Annulment. 

(a) If an Event of Default (other than an Event of Default specified in Section 6.01(i) or Section 6.01(j) with
respect to the Company) occurs and is continuing, either the Trustee by written notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Notes then Outstanding by written notice to the Company and the Trustee, may
declare 100% of the principal of, premium, if any, and accrued and unpaid interest, if any, on all the Notes then Outstanding to be due and payable immediately. If an Event of Default specified in Section 6.01(i) or Section 6.01(j) with
respect to the Company occurs, 100% of the principal of, premium, if any, and accrued and unpaid interest, if any, on all Notes shall automatically become immediately due and payable. 

(b) Notwithstanding anything to the contrary in Section 6.02(a), Section 6.04 or any other provision of this
Indenture, if, at any time after the principal of, and accrued and unpaid interest, if any, on, the Notes shall have been so declared due and payable in accordance with Section 6.02(a), and before any judgment or decree of a court of competent
jurisdiction for the payment of the monies due shall have been obtained, and each of the conditions set forth in the immediately following clauses (i), (ii) and (iii) is satisfied: 

(i) the Company delivers or deposits with the Trustee the amount of cash sufficient to pay all matured installments of
principal and interest upon all the Notes, and the principal of and accrued and unpaid interest, if any, on all Notes which shall have become due otherwise than by acceleration (with interest on such principal and, to the extent that payment of such
interest is enforceable under applicable law, on overdue installments of interest, at the rate or rates, if any, specified in the Notes to the date of such payment or deposit), and such amount as shall be sufficient to pay the Trustee its reasonable
compensation and reimburse the Trustee for its reasonable expenses, disbursements and advances (including the fees and expenses of its agents and counsel); 

  
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 (ii) rescission and annulment would not conflict with any judgment or decree of a
court of competent jurisdiction; and 
 (iii) any and all Events of Default under this Indenture, other than the non-payment
of the principal of the Notes that became due because of the acceleration, shall have been cured, waived or otherwise remedied as provided herein, 

then, the Holders of a majority of the aggregate principal amount of Notes then Outstanding, by written notice to the Company and to the Trustee, may
waive all Defaults and Events of Default with respect to the Notes (except for any Default or Event of Default arising from (a) the Company’s failure to pay principal (including the Fundamental Change Purchase Price) of, or any interest
on, any Notes), (b) the Company’s failure to pay or deliver the Settlement Amounts due upon conversion of any Note within the applicable time period set forth under Section 4.03(a) or (c) the Company’s failure to comply with
any provision of this Indenture the modification of which would require the consent of the Holder of each Outstanding Note affected) and may rescind and annul the declaration of acceleration resulting from such Defaults or Events of Default (except
for any Default or Event of Default arising from (x) the Company’s failure to pay principal (including the Fundamental Change Purchase Price) of, or any interest on, any Notes), (y) the Company’s failure to pay or deliver the
Settlement Amounts due upon conversion of any Note within the applicable time period set forth under Section 4.03(a) or (z) the Company’s failure to comply with any provision of this Indenture the modification of which would require
the consent of the Holder of each Outstanding Note affected) and their consequences; provided, that no such rescission or annulment will extend to or will affect any subsequent Default or Event of Default or shall impair any right consequent
on such Default or Event of Default. 
 Section 6.03 Additional Interest. 

(a) Notwithstanding Section 6.02, to the extent the Company elects, the sole remedy for an Event of Default
(i) relating to any obligations the Company has or is deemed to have under Section 314(a)(1) of the Trust Indenture Act or (ii) under Section 6.01(f) relating to the Company’s failure to comply with Section 5.04 (which
will be the 60th day after written notice is provided to the Company in accordance with such an event of default) (such Event of Default, a “Reporting Event of Default”), will, after the occurrence of such Reporting Event of
Default, (i) consist exclusively of the right to receive Additional Interest at an annual rate equal to 0.25% of the aggregate principal amount of the Notes then Outstanding for each day during the 180-day period beginning on, and including,
the day on which such a Reporting Event of Default occurs during which such Reporting Event of Default is continuing (or, if applicable, the earlier date on which such Reporting Event of Default is cured or waived) and (ii) consist exclusively
of the right to receive Additional Interest on the Notes at an annual rate equal to 0.50% per annum of the principal amount of such tranche of notes outstanding for each day during the 185-day period immediately following such 180-day period,
in each case payable in the same manner and on the same dates as the stated interest payable on the Notes. 
 (b) If the
Reporting Event of Default is continuing on the 366th day after the date on which such Reporting Event of Default occurred, the Notes will be subject to acceleration as provided in Section 6.02(a). 

(c) In order to elect to pay the Additional Interest as the sole remedy during the first 365 days after the occurrence of a
Reporting Event of Default, the Company must notify all Holders of Notes, the Trustee and the Paying Agent in writing of such election on or before the Close of Business on the fifth Business Day after the date on which such Reporting Event of
Default would otherwise occur. Upon the Company’s failure to timely give such notice of such election or to pay the Additional Interest when due, the Notes will be immediately subject to acceleration by declaration of the Trustee or the Holders
of at least 25% in aggregate principal amount of the Notes Outstanding as provided in Section 6.02. Nothing in this Section 6.03 shall affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. 

  
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 Section 6.04 Waiver of Past Defaults. Subject to Section 6.02(b), the Holders of
not less than a majority of the aggregate principal amount of Notes then Outstanding, by written notice to the Company and to the Trustee, may waive any Default or Event of Default (except for any Default or Event of Default arising from
(a) the Company’s failure to pay principal of, or any interest on, any Notes), (b) the Company’s failure to pay or deliver the Settlement Amounts due upon conversion of any Note within the applicable time period set forth under
Section 4.03(a), or (c) the Company’s failure to comply with any provision of this Indenture the modification of which would require the consent of the Holder of each Outstanding Note affected) and rescind any acceleration resulting
from such Default or Event of Default and its consequences; provided, that no such waiver will extend to or will affect any subsequent Default or Event of Default or shall impair any right consequent on such Default or Event of Default. 

Section 6.05 Control by Majority. The Trustee will not be obligated to exercise any of its rights or powers at the request of the
Holders unless the Holders have offered to the Trustee security or indemnity satisfactory to the Trustee against any loss, liability or expense. Subject to this Indenture, applicable law and the Trustee’s indemnification, the Holders of a
majority in aggregate principal amount of the Outstanding Notes may direct in writing the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with
respect to the Notes. The Trustee, however, may refuse to follow any direction that conflicts with law or this Indenture or that the Trustee determines is unduly prejudicial to the rights of any Holder. 

Section 6.06 Limitation on Suits. Subject to Section 6.07, no Holder will have any right to institute any proceeding under
this Indenture, or for the appointment of a receiver or Trustee, or for any other remedy under this Indenture or with respect to the Notes unless: 

(a) the Holder has previously delivered to the Trustee written notice of a continuing Event of Default; 

(b) the Holders of at least 25% in aggregate principal amount of the then Outstanding Notes deliver to the Trustee a written
request that the Trustee pursue a remedy with respect to such Event of Default and have offered reasonable indemnity to the Trustee to institute such proceeding as Trustee; 

(c) the Trustee has failed to institute a proceeding within 60 days after such notice, request and offer; and 

(d) the Trustee has not received from the Holders of a majority in aggregate principal amount of the then Outstanding Notes a
direction inconsistent with such written request within 60 days after such notice, request and offer. 
 Section 6.07 Rights of
Holders to Receive Payment and to Convert. Notwithstanding anything to the contrary elsewhere in this Indenture, the above limitations set forth under Section 6.06 do not apply to a suit instituted by a Holder for the enforcement of a
payment of the principal (including the Fundamental Change Purchase Price, if applicable) of, or any accrued and unpaid interest on, any Note, on or after the applicable due date or the right to convert the Note or to receive the Settlement Amounts
due upon conversion in accordance with Article 4, and such right to receive any such payment or delivery, as the case may be, on or after the applicable due dates shall not be impaired or affected without the consent of such Holder. 

Section 6.08 Collection of Indebtedness; Suit for Enforcement by Trustee. If an Event of Default specified in
Section 6.01(a), 6.01(b), 6.01(c) or 6.01(d) occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium on,
interest on, Fundamental Change Purchase Price for and the Settlement Amounts due upon the conversion of the Notes and such further amount as is sufficient to cover the costs and expenses of collection, including the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, as well as any other amounts that may be due under Section 11.07. 

Section 6.09 Trustee May Enforce Claims Without Possession of Notes. All rights of action and claims under this Indenture or the
Notes may be prosecuted and enforced by the Trustee without the possession of any of 

  
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the Notes or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any
recovery of judgment shall, after provision for the payment of the compensation, and reasonable expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders in respect of which such judgment
has been recovered. 
 Section 6.10 Trustee May File Proofs of Claim. The Trustee is authorized to file such proofs of claim and
other papers or documents as may be necessary or advisable to have the claims of the Trustee and the Holders allowed in any judicial proceedings relative to the Company, its creditors or its property and, unless prohibited by law or applicable
regulations, will be entitled to collect, receive and distribute any money or other property payable or deliverable on any such claims, and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to
the Trustee, and, in the event that the Trustee consents to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel, and any other amounts due the Trustee under Section 11.07. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 11.07 out of the estate in any such proceeding, will be denied for any reason, payment of the same will be secured by a lien on, and is paid out of, any and all distributions, dividends, money, securities and other
properties that the Holders may be entitled to receive in such proceeding, whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained will be deemed to authorize the Trustee to authorize or
consent to, or to accept or to adopt on behalf of any Holder, any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any
Holder in any such proceeding. 
 Section 6.11 Restoration of Rights and Remedies. If the Trustee or any Holder has instituted
any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any
determination in such proceeding, the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as
though no such proceeding had been instituted. 
 Section 6.12 Rights and Remedies Cumulative. Except as otherwise provided with
respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in Section 2.09, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy,
and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right
or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

Section 6.13 Delay or Omission Not a Waiver. No delay or omission of the Trustee or of any Holder to exercise any right or remedy
accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article 6 or by law to the Trustee or to the Holders may be
exercised from time to time and as often as may be deemed expedient by the Trustee (subject to the limitations contained in this Indenture) or by the Holders, as the case may be. 

Section 6.14 Priorities. If the Trustee collects any money or property pursuant to this Article 6, it will pay out the money or
property in the following order: 
 FIRST: to the Trustee, its agents and attorneys for amounts due under Section 11.07, including
payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

  
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 SECOND: to the Holders, for any amounts due and unpaid on the principal of, premium on, accrued
and unpaid interest on, the Fundamental Change Purchase Price for, and any cash due upon conversion of, any Note, without preference or priority of any kind, according to such amounts due and payable on all of the Notes; and 

THIRD: the balance, if any, to the Company or to such other party as a court of competent jurisdiction directs. 

The Trustee may fix a record date and payment date for any payment to the Holders pursuant to this Section 6.14. If the Trustee so fixes
a record date and a payment date, at least 15 calendar days prior to such record date, the Trustee will deliver to each Holder (at the Company’s cost and expense) a written notice, which notice will state such record date, such payment date and
the amount of such payment. 
 Section 6.15 Undertaking for Costs. All parties to this Indenture agree, and each Holder, by such
Holder’s acceptance of a Note, shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or
omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party
litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; provided, however, that the provisions of this Section 6.15 shall not apply to (i) any suit
instituted by the Trustee, (ii) any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in aggregate principal amount of the Notes then Outstanding, (iii) any suit instituted by any Holder for the
enforcement of the payment of the principal (including the Fundamental Change Purchase Price) of, or any interest on, any Note on or after the applicable due date expressed or provided for in this Indenture, (iv) any suit for the enforcement of
the right to convert any Note or to receive the Settlement Amounts due upon conversion of any Note in accordance with the provisions of Article 4, or (v) any suit for the enforcement of the right of a beneficial owner to exchange its beneficial
interest in a Global Note for a Physical Note if an Event of Default has occurred and is continuing in accordance with Section 2.11. 

Section 6.16 Waiver of Stay, Extension and Usury Laws. The Company covenants that, to the extent that it may lawfully do so, it
will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the
performance of this Indenture; and the Company, to the extent that it may lawfully do so, hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the
execution of any power herein granted to the Trustee, but will instead suffer and permit the execution of every such power as though no such law has been enacted. 

Section 6.17 Notices from the Trustee. If a Default occurs and is continuing and is known to the Trustee, the Trustee must send
notice of such Default to each Holder within 90 days after such Event of Default has occurred. Except in the case of a Default in the payment of the principal of, premium, if any, or interest on any Note or of a Default in the payment or delivery of
the Settlement Amounts due upon conversion of any Note, the Trustee may withhold notice if and so long as a committee of trust officers of the Trustee in good faith determines that withholding notice is in the interests of the Holders. 

ARTICLE 7. 
 SATISFACTION AND
DISCHARGE 
 Section 7.01 Discharge of Liability on Notes. When (a) the Company shall deliver to the Registrar for
cancellation all Notes theretofore authenticated (other than any Notes that have been destroyed, lost or stolen and in lieu of or in substitution for which other Notes shall have been authenticated and delivered) and not theretofore canceled, or
(b) all the Notes not theretofore canceled or delivered to the Trustee for cancellation shall have become due and payable (whether on the Maturity Date, on any Fundamental Change Purchase Date, upon conversion or otherwise) and the Company
shall deposit with the Trustee, in trust, or deliver to the Holders, as 

  
 49 

 
applicable, an amount of cash (and, to the extent applicable, deliver to the Holders a number of shares of Common Stock to satisfy the Company’s obligations with respect to outstanding
conversions), sufficient to pay all amounts due on all of such Notes (other than any Notes that shall have been mutilated, destroyed, lost or stolen and in lieu of or in substitution for which other Notes shall have been authenticated and delivered)
not theretofore canceled or delivered to the Trustee for cancellation, including principal and interest due, accompanied, except in the event the Notes are due and payable solely in cash at the Maturity Date or upon an earlier Fundamental Change
Purchase Date, by a verification report as to the sufficiency of the deposited amount from an independent certified accountant or other financial professional reasonably satisfactory to the Trustee, and the Company shall have paid or caused to be
paid all other sums payable hereunder by the Company, then this Indenture shall cease to be of further effect (except as to (i) rights hereunder of Holders to receive all amounts owing upon the Notes and the other rights, duties and obligations
of Holders, as beneficiaries hereof with respect to the amounts, if any, so deposited with the Trustee and (ii) the rights, obligations, indemnities and immunities of the Trustee hereunder and the obligations of the Company in respect thereof),
and the Trustee, on written demand of the Company accompanied by an Officer’s Certificate and an Opinion of Counsel (each stating that all conditions precedent to the discharge of the Indenture have been complied with) and at the cost and
expense of the Company, shall execute instruments acknowledging satisfaction and discharge of this Indenture. Notwithstanding the foregoing, the Company hereby agrees to reimburse the Trustee for any costs or expenses thereafter incurred by the
Trustee, including the reasonable fees and expenses of its counsel, and to compensate the Trustee for any services thereafter rendered by the Trustee in connection with this Indenture or the Notes. 

Section 7.02 Deposited Monies to Be Held in Trust by Trustee. Subject to Section 7.04, all monies deposited with the Trustee
pursuant to Section 7.01 shall be held in trust for the sole benefit of the Holders of the Notes, and such monies and shall be applied by the Trustee to the payment, either directly or through any Paying Agent (including the Company if acting
as its own Paying Agent), to the Holders of the particular Notes for the payment of all sums or amounts due and to become due thereon for principal and interest, if any. 

Section 7.03 Paying Agent to Repay Monies Held. Upon the satisfaction and discharge of this Indenture, all excess monies then held
by any Paying Agent (if other than the Trustee) shall, upon written request of the Company, be repaid to it or paid to the Trustee, and thereupon such Paying Agent shall be released from all further liability with respect to such amounts. 

Section 7.04 Return of Unclaimed Monies. Subject to the requirements of applicable law, any monies deposited with or paid to the
Trustee for payment of the principal of or interest, if any, on the Notes and not applied but remaining unclaimed by the Holders of the Notes for two (2) years after the date upon which the principal of or interest, if any, on such Notes, as
the case may be, shall have become due and payable, shall be repaid to the Company by the Trustee on written demand, and all liability of the Trustee shall thereupon cease with respect to such monies; and the Holders shall thereafter look only to
the Company for any payment that such Holder may be entitled to collect unless an applicable abandoned property law designates another person. 

Section 7.05 Reinstatement. If the Trustee or the Paying Agent is unable to apply any monies in accordance with Section 7.02
by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under this Indenture and the Notes shall be revived and reinstated as though
no deposit had occurred pursuant to Section 7.01 until such time as the Trustee or the Paying Agent is permitted to apply all such amounts in accordance with Section 7.02; provided, however, that if the Company makes any payment of
interest on, principal of or delivery in respect of any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the monies held by the Trustee or
Paying Agent. 

  
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 ARTICLE 8. 

SUPPLEMENTAL INDENTURES 

Section 8.01 Supplemental Indentures Without Consent of Holders. 

Without the consent of any Holder, the Company (when authorized by a Board Resolution) and the Trustee, at any time and from time to time, may
enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 

(a) to cure any ambiguity, omission, defect or inconsistency in this Indenture or the Notes; 

(b) to evidence the succession by a Successor Company and to provide for the assumption by a Successor Company of the
Company’s obligations under this Indenture; 
 (c) to add guarantees with respect to the Notes; 

(d) to secure the Notes; 

(e) to add to the Company’s covenants such further covenants, restrictions or conditions for the benefit of the Holders or
surrender any right or power conferred upon the Company by this Indenture; 
 (f) to make any change that does not adversely
affect the rights of any Holder in any material respect; 
 (g) to make any change to comply with the Trust Indenture Act, or
any amendment thereto; 
 (h) make any change as required by applicable law including appropriate transfer restrictions; or

 (i) upon the occurrence of an event described in Section 4.07(a), solely (i) to provide that such Notes are
convertible into or by reference to Reference Property, subject to the provisions in Sections 4.03 and 4.07, and (ii) to effect the related changes to the terms of such Notes under Section 4.07. 

Section 8.02 Supplemental Indentures With Consent of Holders. 

With the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Notes (including, without
limitation, consents obtained in connection with a purchase of, or tender or exchange offer for, Notes) and by Act of said Holders delivered to the Company and the Trustee, the Company, and the Trustee may amend the Notes or enter into
an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders under this Indenture,
and the Holder of a majority in aggregate principal amount of the Outstanding Notes may waive the Company’s compliance with any provision herein without notice to the other Holders; provided, however, that no such
amendment, supplement or waiver shall, without the consent of the Holder of each Outstanding Note affected thereby: 

(a) change the stated Maturity Date of the principal of or any interest on the Notes; 

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

(c) reduce the amount of principal payable upon acceleration of the Maturity Date of any Note; 

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

(e) impair the right of any Holder to receive payment of principal of and interest on its Notes on or after the due dates
therefor or to institute suit for the enforcement of any payment on, or with respect to, such Holder’s Notes; 
 (f)
modify the provisions with respect to the purchase rights of Holders as described in Section 3.01 in a manner adverse to Holders; 

(g) make any change that impairs or adversely affects the rights of Holders to convert their Notes; 

(h) modify the ranking provisions of this Indenture; or 

  
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 (i) make any change to the provisions of this Article 8 which require each
Holder’s consent or in the waiver provisions in Section 6.04 of this Indenture except to increase the percentage required for modification, amendment or waiver or to provide for consent of each affected Holder of Outstanding Notes. 

It shall not be necessary for any Act or consent of Holders under this Section 8.02 to approve the particular form of any proposed
supplemental indenture, but it shall be sufficient if such Act or consent shall approve the substance thereof. 
 Section 8.03
Notice of Amendment or Supplement. After an amendment or supplement under this Article 8 becomes effective, the Company shall provide to the Holders a written notice briefly describing such amendment or supplement. However, the failure to
give such notice to all the Holders, or any defect in the notice, shall not impair or affect the validity of the amendment or supplement. 

Section 8.04 Trustee to Sign Amendments, Etc. The Trustee shall sign any amendment or supplement authorized pursuant to this
Article 8 if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, but need not, sign it. In signing or refusing to sign such amendment or supplement, the
Trustee shall receive, and shall be fully protected in conclusively relying upon, in addition to the documents required by Section 5.07, an Officer’s Certificate and an Opinion of Counsel provided at the expense of the Company providing
that such amendment or supplement is authorized or permitted by this Indenture and such amendment or supplement is a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms. 

Section 8.05 Conformity With Trust Indenture Act. Every supplemental indenture executed pursuant to this Article shall conform to
the requirements of the Trust Indenture Act. 
 ARTICLE 9. 

SUCCESSOR COMPANY 

Section 9.01 Company May Consolidate, Etc. on Certain Terms. Subject to the provisions of Section 9.03, the Company shall not
consolidate with, enter into a binding share exchange with, or merge with or into, another Person or sell, assign, convey, transfer, lease or otherwise dispose of its properties and assets substantially as an entirety to another Person, unless: 

(a) the resulting, surviving transferee or successor Person (the “Successor Company”), if not the Company, is
a corporation organized and existing under the laws of the U.S., any state of the U.S. or the District of Columbia and the Successor Company expressly assumes, by supplemental indenture, executed and delivered to the Trustee, in form satisfactory to
the Trustee, all of the obligations of the Company under the Notes and this Indenture; 
 (b) immediately after giving effect
to such transaction, no Default or Event of Default shall have occurred and be continuing under this Indenture with respect to the Notes; 

(c) all other conditions specified in this Article 9 are met. 

Notwithstanding anything to the contrary in the foregoing, the offering to the public, and any subsequent dispositions of the Company’s
interests in, any of the Company’s Yieldco Subsidiaries (including TerraForm Power) in which the Company continues to own at least 51% of the voting power, shall not be prohibited by this Section 9.01. 

Upon any such consolidation, merger, binding share exchange, sale, assignment, conveyance, transfer, lease or other disposition to another
Person, the Successor Company (if not the Company) shall succeed to, and may exercise every right and power of the Company under this Indenture. 

  
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 Section 9.02 Successor Corporation to Be Substituted. In case of any such
consolidation, merger, binding share exchange, sale, assignment, conveyance, transfer, lease or other disposition to another Person and upon the assumption by the Successor Company (if other than the Company), by supplemental indenture, executed and
delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal of and premium (including any Fundamental Change Purchase Price), if any, and accrued and unpaid interest, if any, on all of the
Notes, the due and punctual payment or delivery of any Settlement Amount due upon conversion of the Notes and the due and punctual performance of all of the covenants and conditions of this Indenture to be performed by the Company under this
Indenture, such Successor Company shall succeed to and be substituted for, and may exercise every right and power of, the Company under this Indenture, with the same effect as if it had been named herein as the party of the first part;
provided, however, that in the case of a sale, assignment, conveyance, transfer, lease or other disposition to one or more of its Subsidiaries of all or substantially all of the properties and assets of the Company, the Notes will
remain convertible based on the Settlement Amount, in accordance with Section 4.03 but subject to adjustment (if any) in accordance with Section 4.06. Such Successor Company thereupon may cause to be signed, and may issue either in its own
name or in the name of the Company any or all of the Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such Successor Company instead of the Company and subject
to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver, or cause to be authenticated and delivered, any Notes that previously shall have been signed and delivered by the Officers
of the Company to the Trustee for authentication, and any Notes that such Successor Company thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Notes so issued shall in all respects have the same legal rank and
benefit under this Indenture as the Notes theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Notes had been issued at the date of the execution hereof. In the event of such consolidation, merger,
binding share exchange, sale, assignment, conveyance, transfer or other disposition to another Person (but not in the case of a lease), the Person named as the “Company” in the first paragraph of this Indenture or any successor that shall
thereafter have become such in the manner prescribed in this Article 9 may be dissolved, wound up and liquidated at any time thereafter and, except in the case of a lease, such Person shall be released from its liabilities as obligor and maker of
the Notes and from its obligations under this Indenture. 
 In case of any such consolidation, merger, binding share exchange, sale,
assignment, conveyance, transfer, lease or other disposition to another Person, such changes in phraseology and form (but not in substance) may be made in the Notes thereafter to be issued as may be appropriate. 

Section 9.03 Officer’s Certificate and Opinion of Counsel to Be Given to Trustee. In the case of any such consolidation,
merger, binding share exchange, sale, assignment, conveyance, transfer, lease or other disposition pursuant to Section 9.01, the Trustee shall receive an Officer’s Certificate and an Opinion of Counsel stating that any such consolidation,
merger, binding share exchange, sale, assignment, conveyance, transfer, lease or other disposition and any such assumption and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture, complies with
the provisions of this Indenture. 
 ARTICLE 10. 

NO REDEMPTION 
 Section 10.01
No Redemption. The Company shall not be permitted to redeem the Notes, and no sinking fund is provided for the Notes. 

  
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 ARTICLE 11. 

THE TRUSTEE 
 Section 11.01
Duties and Responsibilities of Trustee. 
 (a) The Trustee, prior to the occurrence of an Event of Default and after
the curing of all Events of Default which may have occurred, undertakes to perform such duties and only such duties as are provided in the Trust Indenture Act and as specifically set forth in this Indenture and no implied covenants or obligations
shall be read into this Indenture against the Trustee. In case an Event of Default has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture and use the same degree of
care in its exercise as a prudent person would use in the conduct of his or her own affairs. 
 (b) Prior to the occurrence
of an Event of Default and after the curing or waiving of all Events of Default which may have occurred, and subject to Sections 315(a) through (d) of the Trust Indenture Act: 

(i) the duties and obligations of the Trustee shall be determined solely by the express provisions of this Indenture and
applicable law, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the
Trustee; and 
 (ii) in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely as to the
truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but, in the case of any such certificates or opinions
which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or
investigate the accuracy of any mathematical calculations or other facts stated therein). 
 (c) No provision of this
Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 

(i) this subsection (c) does not limit the effect of this Section 11.01; 

(ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Officers of the
Trustee, unless the Trustee was negligent in ascertaining the pertinent facts; and 
 (iii) the Trustee shall not be liable
with respect to any action taken or omitted to be taken by it in good faith in accordance with the written direction of the Holders of not less than a majority in principal amount of the Notes at the time Outstanding determined as provided in
Section 1.03 relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture; 

(d) Whether or not therein provided, every provision of this Indenture relating to the conduct or affecting the liability of,
or affording protection to, the Trustee shall be subject to the provisions of this Section 11.01. 
 (e) The Trustee
shall not be liable in respect of any payment (as to the correctness or calculation of amount, entitlement to receive or any other matters relating to payment) or notice effected by the Company or any Paying Agent or any records maintained by any
co-Registrar with respect to the Notes. 
 (f) If any party fails to deliver a notice relating to an event the fact of which,
pursuant to this Indenture, requires notice to be sent to the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred. 

(g) None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties or in the exercise 

  
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of any of its rights or powers if there is reasonable ground for believing that the repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

 Section 11.02 [RESERVED] 

Section 11.03 Rights of the Trustee. 

(a) The Trustee may conclusively rely and shall be protected in acting upon any resolution, certificate, statement, instrument,
opinion, report, notice, request, consent, order, bond, debenture, note, coupon or other paper or document (whether in its original or facsimile form) believed by it in good faith to be genuine and to have been signed or presented by the proper
party or parties. 
 (b) Any request, direction, order or demand of the Company mentioned herein shall be sufficiently
evidenced by an Officer’s Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to the Trustee by a Board Resolution. 

(c) The Trustee may consult with counsel of its own selection and any advice or Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken or omitted by it hereunder in good faith and in accordance with such advice or Opinion of Counsel. 

(d) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the
request, order or direction of any of the Holders pursuant to the provisions of this Indenture (including upon the occurrence and during the continuance of an Event of Default), unless such Holders shall have offered to the Trustee indemnity or
security satisfactory to the Trustee against any loss, expenses and liabilities which may be incurred therein or thereby. 

(e) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may
see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney (at the reasonable expense of the Company
and shall incur no liability of any kind by reason of such inquiry or investigation). 
 (f) The Trustee may execute any of
the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed by it with
due care hereunder. 
 (g) The Trustee shall not be liable for any action taken, suffered, or omitted to be taken by it in
good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture. 

(h) In no event shall the Trustee be responsible or liable for special, indirect, consequential or punitive loss or damage of
any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(i) The Trustee shall not be deemed to have notice of any Default or Event of Default unless written notice of any event which
is in fact such a default is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and the Indenture. 

(j) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right
to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each Agent, custodian and other Person employed to act hereunder. 

(k) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties
hereunder. 

  
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 (l) The Trustee may request that the Company deliver an Officer’s
Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture. 

(m) In the absence of written investment direction from the Company, all cash received by the Trustee shall be placed in a
non-interest bearing trust account, and in no event shall the Trustee be liable for the selection of investments or for investment losses incurred thereon or for losses incurred as a result of the liquidation of any such investment prior to its
maturity date or the failure of the party directing such investments prior to its maturity date or the failure of the party directing such investment to provide timely written investment direction, and the Trustee shall have no obligation to invest
or reinvest any amounts held hereunder in the absence of such written investment direction from the Company. 
 (n) The
permissive rights of the Trustee enumerated herein shall not be construed as duties. 
 (o) If at any time the Trustee is
served with any judicial or administrative order, judgment, decree, writ or other form of judicial or administrative process which in any way affects any trust account, funds held hereunder or this Indenture (including, but not limited to, orders of
attachment or garnishment or other forms of levies or injunctions or stays relating to the transfer of funds), the Trustee is authorized to comply therewith in any manner as it or its legal counsel of its own choosing deems appropriate; and if the
Trustee complies with any such judicial or administrative order, judgment, decree, writ or other form of judicial or administrative process, the Trustee shall not be liable to any of the parties hereto or to any other person or entity even though
such order, judgment, decree, writ or process may be subsequently modified or vacated or otherwise determined to have been without legal force or effect. 

Section 11.04 Trustee’s Disclaimer. The recitals contained herein and in the Notes (except in the Trustee’s certificate
of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Notes.
The Trustee shall not be accountable for the use or application by the Company of any Notes or the proceeds of any Notes authenticated and delivered by the Trustee under this Indenture and the Trustee shall not be responsible for any statement of
the Company in this Indenture or in any document issued in connection with the sale of the Notes. 
 Section 11.05 Trustee or Agents
May Own Notes. The Trustee or any Agent, in its individual or any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not Trustee or Agent. The Trustee is subject to Sections 310(b) and 311 of
the Trust Indenture Act. 
 Section 11.06 Monies to be Held in Trust. Subject to the provisions of Section 7.02, all monies
and properties received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received. Money held by the Trustee in trust hereunder need not be segregated from other funds except to
the extent required by law. The Trustee shall be under no liability for interest on or the investment of any money received by it hereunder except as may be agreed in writing from time to time by the Company and the Trustee. 

Section 11.07 Compensation and Expenses of Trustee. The Company covenants and agrees to pay to the Trustee from time to time, and
the Trustee shall be entitled to, such compensation for all services rendered by it hereunder in any capacity (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as mutually agreed to
from time to time in writing between the Company and the Trustee, and the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances reasonably incurred or made by the Trustee in accordance
with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all Persons not regularly in its employ) except any such expense, disbursement or advance as may arise from
its own negligence or willful misconduct, as determined by a final order of a court of competent jurisdiction. 

  
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 The Company also covenants to indemnify each of the Trustee and the Agents (and their respective
officers, directors and employees), in any capacity under this Indenture and their respective agents for, and to hold each of them harmless from and against, any and all loss, liability, claim, damage, cost or expense incurred without negligence or
willful misconduct on its own part and arising out of or in connection with the acceptance or administration of this trust and the performance of its duties and/or the exercise of its rights hereunder or in any other capacity hereunder, including
the costs and expenses of defending itself against any claim (whether asserted by the Company, a Holder or any other Person) of liability in the premises. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity.
Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company may defend the claim and the Trustee shall cooperate in the defense; provided, the Company shall not settle any such claim
without the consent of the Trustee (which consent shall not be unreasonable withheld). The Trustee may have separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made
without its consent. 
 The obligations of the Company under this Section 11.07 to compensate or indemnify the Trustee and to pay or
reimburse the Trustee for expenses, disbursements and advances shall be secured by a lien prior to that of the Notes upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the Holders of
particular Notes. The obligation of the Company under this Section 11.07 shall survive the payment of the Notes, the satisfaction and discharge of this Indenture and/or the resignation or removal of the Trustee. 

When the Trustee, any Agent, and any of their respective agents incur expenses or render services after an Event of Default specified in
Section 6.01(i) and 6.01(j) with respect to the Company occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any bankruptcy, insolvency or similar laws. 

Section 11.08 Officer’s Certificate as Evidence. Subject to Section 11.01, whenever in the administration of the
provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically
prescribed) may, in the absence of bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officer’s Certificate delivered to the Trustee. 

Section 11.09 Conflicting Interests of Trustee. If the Trustee has or shall acquire a conflicting interest within the meaning of
the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, this Indenture. 

Section 11.10 Eligibility of Trustee. There shall at all times be a Trustee hereunder which shall be a Person that is eligible
pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus, together with its parent (which, in the case of Computershare Trust Company, National Association is Computershare, Inc.) of at least $50,000,000 (or if such
Person is a member of a bank holding company system, its bank holding company shall have a combined capital and surplus of at least $50,000,000). If such Person publishes reports of condition at least annually, pursuant to law or to the requirements
of any supervising or examining authority, then for the purposes of this Section 11.10 the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so
published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 11.10, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 

Section 11.11 Resignation or Removal of Trustee. 

(a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the Holders of Notes.
Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning
Trustee and one copy to the successor trustee. If 

  
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no successor trustee shall have been so appointed and have accepted appointment thirty (30) days after such notice of resignation is given to the Company and the Holders, the resigning
Trustee may, upon ten (10) Business Days’ notice to the Company and the Holders, appoint a successor identified in such notice or may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a
successor trustee, or, if any Holder who has been a bona fide Holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 6.15, on behalf of himself and all others similarly situated, petition any such
court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

(b) In case at any time any of the following shall occur: 

(i) the Trustee shall fail to comply with Section 11.09 after written request therefor by the Company or by any Holder who
has been a bona fide Holder of a Note or Notes for at least six (6) months; or 
 (ii) the Trustee shall cease to be
eligible in accordance with the provisions of Section 11.10 and shall fail to resign after written request therefor by the Company or by any such Holder; or 

(iii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee
or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; 

then, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in
duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 6.15, any Holder who has been a
bona fide Holder of a Note or Notes for at least six (6) months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee;
provided, however, that if no successor Trustee shall have been appointed and have accepted appointment thirty (30) days after either the Company or the Holders has removed the Trustee, the Trustee so removed may petition at the
Company’s expense any court of competent jurisdiction for an appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 

(c) The Holders of a majority in aggregate principal amount of the Notes at the time Outstanding may at any time remove the
Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any
Holder, or if such Trustee so removed or any Holder fails to act, the Company, upon the terms and conditions and otherwise as in Section 11.11(a) provided, may petition any court of competent jurisdiction for an appointment of a successor
trustee. 
 (d) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the
provisions of this Section 11.11 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 11.12. 

Section 11.12 Acceptance by Successor Trustee. Any successor trustee appointed as provided in Section 11.11 shall execute,
acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor trustee, without
any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as trustee herein; but, nevertheless, on the written request of the
Company or of the successor trustee, the trustee ceasing to act shall, upon payment of any amount then due it pursuant to the provisions of Section 11.07, execute and deliver an instrument transferring to such successor trustee all the rights
and powers of the trustee so ceasing to act. Upon request of any such successor trustee, the Company shall execute any and 

  
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all instruments in writing for more fully and certainly vesting in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall, nevertheless, retain a
lien upon all property and funds held or collected by such trustee as such, except for funds held in trust for the benefit of Holders of particular Notes, to secure any amounts then due it pursuant to the provisions of Section 11.07. 

No successor trustee shall accept appointment as provided in this Section 11.12 unless, at the time of such acceptance, such successor
trustee shall be qualified under the provisions of Section 11.09 and be eligible under the provisions of Section 11.10. 
 Upon
acceptance of appointment by a successor trustee as provided in this Section 11.12, the Company (or the former trustee, at the written direction of the Company) shall give or cause to be given notice of the succession of such trustee hereunder
to the Holders of Notes in accordance with Section 12.08(c). If the Company fails to give such notice within ten (10) days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be given
at the expense of the Company. 
 Section 11.13 Succession by Merger, Etc. Any corporation into which the Trustee may be merged
or exchanged or with which it may be consolidated, or any corporation resulting from any merger, exchange or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust
business of the Trustee (including any trust created by this Indenture), shall be the successor to the Trustee hereunder without the execution or filing of any paper or any further act on the part of any of the parties hereto, provided that in the
case of any corporation succeeding to all or substantially all of the corporate trust business of the Trustee, such corporation shall be qualified under the provisions of Section 11.09 and eligible under the provisions of Section 11.10.

 In case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture, any of the Notes shall have been
authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee or authenticating agent appointed by such predecessor trustee, and deliver such Notes so authenticated; and in
case at that time any of the Notes shall not have been authenticated, any successor to the Trustee or any authenticating agent appointed by such successor trustee may authenticate such Notes in the name of the successor trustee; and in all such
cases such certificates shall have the full force that is provided in the Notes or in this Indenture; provided, however, that the right to adopt the certificate of authentication of any predecessor Trustee or authenticate Notes in the name of any
predecessor Trustee shall apply only to its successor or successors by merger, exchange or consolidation. 
 Section 11.14
Preferential Collection of Claims. If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Notes), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection
of the claims against the Company (or any such other obligor). 
 Section 11.15 Trustee’s Application for Instructions from the
Company. Any application by the Trustee for written instructions from the Company (other than with regard to any action proposed to be taken or omitted to be taken by the Trustee that affects the rights of the Holders of the Notes under this
Indenture) may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The
Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than three (3) Business
Days after the date any officer of the Company actually receives such application, unless any such officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an
omission), the Trustee shall have received written instructions in response to such application specifying the action to be taken or omitted. 

Section 11.16 Reports by Trustee to Holders. Within 60 days after each May 15, beginning with the May 15 following the
issue date, the Trustee will mail to each Holder, as provided in Trust Indenture Act Section 313(c), 

  
 59 

 
a brief report, if required by Trust Indenture Act Section 313(a), and file such reports with each stock exchange upon which its Notes are listed and with the Commission as required by Trust
Indenture Act Section 313(d). 
 ARTICLE 12. 

MISCELLANEOUS 
 Section 12.01
Effect on Successors and Assigns. All agreements of the Company, the Trustee, the Registrar, the Paying Agent and the Conversion Agent in this Indenture and the Notes will bind their respective successors. 

Section 12.02 Governing Law. This Indenture and the Notes, and any claim, controversy or dispute arising under or related to this
Indenture or the Notes, will be governed by, and construed in accordance with, the laws of the State of New York, (without regard to the conflicts of laws provisions thereof other than Section 5-1401 of the General Obligations Law). 

Section 12.03 No Note Interest Created. Nothing in this Indenture or in the Notes, expressed or implied, shall be construed to
constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction. 

Section 12.04 Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture
Act that is required under such Act to be a part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded,
the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be. 
 This Indenture
shall incorporate and be governed by the provisions of the Trust Indenture Act that are required to be part of and to govern indentures qualified under the Trust Indenture Act. All Trust Indenture Act terms used in this Indenture that are defined by
the Trust Indenture Act, defined by Trust Indenture Act reference to another statute or defined by Commission rule have the meanings assigned to them by such definitions. 

Section 12.05 Benefits of Indenture. Nothing in this Indenture or in the Notes, expressed or implied, will give to any Person,
other than the parties hereto, any Agent or their successors hereunder or the Holders of the Notes, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 12.06 Calculations. Neither the Trustee nor any Agent shall be responsible for making any calculation with respect to any
matter under this Indenture or the Notes (including, for the avoidance of doubt, the trading price of the Notes). Except as otherwise expressly provided in this Indenture, the Company and its designated agents shall be responsible for making all
calculations called for under this Indenture and the Notes. These calculations include, but are not limited to, determinations of any Fundamental Change Purchase Price, the Closing Sale Prices of the Common Stock, accrued interest payable on the
Notes, the Conversion Rate, the Settlement Amount and the amount of Additional Interest that may be payable by Company from time to time. The Company shall make all these calculations in good faith and, absent manifest error, its calculations will
be final and binding on Holders. The Company shall provide a schedule of its calculations to each of the Trustee and the Conversion Agent, and each of the Trustee and the Conversion Agent and all other agents appointed by the Company herein are
entitled to rely conclusively upon the accuracy of the Company’s calculations without independent verification. The Trustee shall forward the Company’s calculations to any Holders upon the written request of that Holder. 

Whenever the Company is required to calculate or make adjustments to the Conversion Rate, the Company will do so to the 1/10,000th of a share
of Common Stock, rounding any additional decimal places up or down in a commercially reasonable manner. 
 Section 12.07 Execution
in Counterparts. This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same 

  
 60 

 
instrument. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties
hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

Section 12.08 Notices. 

(a) Except as otherwise provided herein, any request, demand, authorization, direction, notice, consent, election, waiver or
Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with, the Company or the Trustee shall be in writing and delivered in person or mailed by first class mail, postage prepaid,
overnight courier or transmitted by facsimile transmission or electronic transmission in PDF format as follows: 
 (i) if to
the Trustee by any Holder or by the Company, at its Corporate Trust Office; 
 (ii) if to the Company by the Trustee or by
any Holder, at the address of its principal office at SunEdison, Inc., 501 Pearl Drive (City of O’Fallon), St. Peters, Missouri 63376, Attention: General Counsel. 

(b) The Company or the Trustee, by notice given to the other in the manner provided in this Section 12.08, may designate
additional or different addresses for subsequent notices or communications. 
 (c) Notices to Holders will be sent to the
address of each Holder as it appears in the Register. Notices will be deemed to have been given on the date of mailing or electronic transmission to such Holder. Whenever a notice is required to be given by the Company, such notice may be given by
the Trustee on the Company’s behalf. With respect to Global Notes, notice shall be sufficiently given if given to the Depositary for the Notes (or its designee), pursuant to customary procedures of such Depositary. 

(d) Whenever the Company is required to deliver notice to the Holders, the Company will, by the date it is required to deliver
such notice to the Holders, deliver a copy of such notice to the Trustee and the Agents. Notices to the Trustee shall be deemed given upon actual receipt thereof. 

(e) In respect of this Indenture, the Trustee, in each of its capacities, including without limitation as the Trustee,
Registrar, Paying Agent and Conversion Agent, shall not have any duty or obligation to verify or confirm that the Person sending instructions, directions, reports, notices or other communications or information by electronic transmission is, in
fact, a Person authorized to give such instructions, directions, reports, notices or other communications or information on behalf of the party purporting to send such electronic transmission; and the Trustee shall not have any liability for losses,
liabilities, costs or expenses incurred or sustained by any party as a result of such reliance upon or compliance with such instructions, directions, reports, notices or other communications or information. Each other party agrees to assume all
risks arising out of the use of electronic methods to submit instructions, directions, reports, notices or other communications or information to the Trustee, including, without limitation the risk of the Trustee acting on unauthorized instructions,
notices, reports or other communications or information, and the risk of interception and misuse by third parties. 
 Section 12.09
No Recourse Against Others. No director, officer, employee, incorporator or stockholder of the Company shall have any liability for any obligations of the Company under the Notes, the Indenture or any claim based on, in respect of, or by
reason of, such obligations or their creation. Each Holder, by accepting a Note, waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

Section 12.10 Tax Withholding. Nothing herein shall preclude any tax withholding required by law or regulation. Each Holder
agrees, and each beneficial owner of an interest in a Note by its acquisition of such interest is deemed to agree, that if the Company or other applicable withholding agent pays withholding taxes or backup withholding on behalf of the Holder or
beneficial owner as a result of an adjustment to the Conversion Rate, the Company or other applicable withholding agent may, at its option, set off such payments against 

  
 61 

 
payments of cash and shares of Common Stock on the Note (or, in certain circumstances, against any payments on the Common Stock). 

Section 12.11 Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

Section 12.12 U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot
Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a
relationship or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act. 

Section 12.13 Force Majeure. In no event shall the Trustee or any Agent be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances,
disasters, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

Section 12.14 Submission to Jurisdiction. 

(a) The Company hereby irrevocably consents to jurisdiction of the courts of the State of New York and the courts of the United
States of America located in the City of New York and the County of New York, over any suit, action or proceeding with respect to this Indenture or the Notes or the transactions contemplated hereby. The Company waives any objection that it may have
to the venue of any suit, action or proceeding with respect to this Indenture or the Notes or the transactions contemplated hereby in the courts of the State of New York or the courts of the United States of America, in each case, located in the
City of New York and County of New York, or that such suit, action or proceeding brought in the courts of the State of New York or the United States of America, in each case, located in the City of New York and County of New York was brought in an
inconvenient court and agrees not to plead or claim the same. The Company hereby irrevocably appoints Corporation Service Company, 1180 Avenue of the Americas, Suite 210, New York, NY 10036, as its authorized agent in the State of New York upon
which process may be served in any such suit or proceedings, and agrees that service of process upon such agent shall be deemed in every respect effective service of process upon the Company in any such suit or proceeding. The Company further agrees
to take any and all action as may be necessary to maintain such designation and appointment of such agent in full force and effect for the term of this Indenture. Nothing in this Indenture shall in any way be deemed to limit the ability to serve any
such writs, process or summonses in any other manner permitted by applicable law. 
 [Remainder of the page intentionally left blank] 

  
 62 

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

			
	SunEdison, Inc.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Computershare Trust Company, National Association, as Trustee, Registrar, Paying Agent and Conversion Agent
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 63 

 SCHEDULE A 

The following table sets forth the number of Additional Shares by which the Conversion Rate shall be increased pursuant to Section 4.06
based on the hypothetical Stock Prices and the dates set forth below. 
 [THIS TABLE SHALL BE BASED ON THE KYNEX CONVERTIBLE BOND PRICING MODEL USED FOR
CONVERTIBLE NOTES OFFERINGS BY EXCHANGE LISTED COMPANIES IN THE UNITED STATES]. 

  
 64 

 EXHIBIT A 

[FORM OF FACE OF NOTE] 
 [For all Notes,
include the following legend (the “Non-Affiliate Legend”):] 
 NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF
THE COMPANY OR PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY DURING THE IMMEDIATELY PRECEDING THREE MONTHS MAY PURCHASE, OTHERWISE ACQUIRE OR HOLD THIS NOTE OR A BENEFICIAL INTEREST HEREIN.

 [For Global Notes, include the following legend (the “Global Notes Legend”):] 

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

  
 65 

 SunEdison, Inc. 

2.25% Convertible Senior Notes due 20[    ] 

No.: [            ] 

CUSIP:         [●] 

Principal 
 Amount $
[            ] as revised by the Schedule of Increases and Decreases in the Global Note attached hereto 

SunEdison, Inc., a Delaware corporation (the “Company”), promises to pay to
[            ] [include “Cede & Co.” for Global Note] or registered assigns, the principal amount of [add principal amount in words]
$[            ] [For Global Notes, include the following: as revised by the Schedule of Increases and Decreases in the Global Note attached hereto,] on
[            ], 20[    ] (the “Maturity Date”). 

Interest Payment Dates: [            ] and
[            ]. 
 Regular Record Dates:
[            ] and [            ]. 

Additional provisions of this Security are set forth on the other side of this Note. 

  
 66 

 IN WITNESS WHEREOF, SunEdison, Inc. has caused this instrument to be signed manually or by
facsimile by one of its duly authorized Officers. 
  

			
	SunEdison, Inc.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 67 

 This is one of the Notes referred to in the within-mentioned Indenture. 

Dated: 
  

			
	Computershare Trust Company, National Association, as Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 68 

 [FORM OF REVERSE OF NOTE] 

SunEdison, Inc. 
 2.25% Convertible
Senior Notes due 20[    ] 
 This Note is one of a duly authorized issue of securities of the Company (herein
called the “Notes”), issued under the Indenture dated as of [            ], 2015 by and between the Company and Computershare Trust Company, National Association, herein
called the “Trustee,” and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of
the terms upon which the Notes are, and are to be, authenticated and delivered. 
 This Note does not benefit from a sinking fund.
This Note shall not be redeemable at the Company’s option. 
 As provided in and subject to the provisions of the Indenture, upon the
occurrence of a Fundamental Change, the Holder of this Note will have the right, at such Holder’s option, to require the Company to purchase this Note, or any portion of this Note such that the principal amount of this Note that is not
purchased equals $100 or an integral multiple of $100, on the Fundamental Change Purchase Date at a price equal to the Fundamental Change Purchase Price for such Fundamental Change Purchase Date. 

As provided in and subject to the provisions of the Indenture, the Holder hereof has the right, prior to the Close of Business on the second
Scheduled Trading Day immediately preceding the Maturity Date, to convert this Note or a portion of this Note such that the principal amount of this Note converted equals $100 or an integral multiple of $100, into a number of shares of Common Stock
determined in accordance with Article 4 of the Indenture and subject to adjustment as set forth therein. 
 As provided in and subject to
the provisions of the Indenture, the Company will make all payments in respect of the Fundamental Change Purchase Price for and the principal amount of, this Note to the Holder that surrenders this Note to the Paying Agent to collect such payments
in respect of this Note. The Company will pay cash amounts in money of the U.S. that at the time of payment is legal tender for payment of public and private debts. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Notes to be effected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Notes at the time Outstanding. The
Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes at the time Outstanding, on behalf of the Holders of all Notes, to waive compliance by the Company with certain provisions of the
Indenture and certain past Defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued
upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 

As provided in and subject to the provisions of the Indenture, the Holder of this Note shall not have the right to institute any proceeding
with respect to the Indenture, or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Note,
the Holders of not less than 25% in principal amount of the Notes at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable
indemnity to the Trustee, and the Trustee shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity, and shall not have received from the Holders of a majority in principal amount of
Notes at the time Outstanding a direction inconsistent with such request. The foregoing shall not apply to any suit instituted by the Holder of this Note for the enforcement of any payment of the principal hereof, premium, if any, or interest
hereon, the Fundamental Change Purchase Price with respect to and the amount of cash, the number of shares of 

  
 69 

 
Common Stock or the combination thereof, as the case may be, due upon conversion of this Note or after the respective due dates expressed in the Indenture. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay or deliver, as the case may be, the principal of (including the Fundamental Change Purchase Price), premium, interest on and the amount of cash, a number of shares of Common Stock or a combination of cash
and shares of Common Stock, if any, as the case may be, due upon conversion of, this Note at the time, place and rate, and in the coin and currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Register,
upon surrender of this Note for registration of transfer to the Trustee, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Registrar duly executed by, the Holder hereof or its attorney
duly authorized in writing, and thereupon a new Note of this series and of like tenor for the same aggregate principal amount will be issued to the designated transferee. 

The Notes are issuable only in registered form without coupons in minimum denominations of $100 and integral multiples of $100.7 As provided in the Indenture and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes and of like tenor of a different
authorized denomination, as requested by the Holder surrendering the same. 
 Subject to the rights of the Holders as of the Regular Record
Date to receive interest on the related Interest Payment Date, prior to due presentment of this Note for registration of transfer, the Company, the Trustee, the Agents and any of their respective agents may treat the Person in whose name the Note is
registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee, the Agents nor any agents shall be affected by notice to the contrary. 

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

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

All defined terms used in this Note that are defined in the Indenture shall have the meanings assigned to them in the Indenture. If any
provision of this Note limits, qualifies or conflicts with a provision of the Indenture, such provision of the Indenture shall control. 

 

	7 	The Company may instead elect to have denominations in $1,000 or such other denomination required by the Depository Trust Company (“DTC”) with respect to any Notes held through DTC. 

  
 70 

 ATTACHMENT 1 

[FORM OF NOTICE OF CONVERSION] 
 To: SunEdison,
Inc. 
 The undersigned owner of this Note hereby irrevocably exercises the option to convert this Note, or a portion hereof (which is such that the
principal amount of the portion of this Note that will not be converted equals $100 or an integral multiple of $100 in excess thereof) below designated, into a number of shares of Common Stock in accordance with the terms of the Indenture referred
to in this Note, and directs that any cash payable and any shares of Common Stock issuable and deliverable upon conversion, together with any Notes representing any unconverted principal amount hereof, be paid and/or issued and/or delivered, as the
case may be, to the registered Holder hereof unless a different name is indicated below. 
 Subject to certain exceptions set forth in the Indenture, if
this notice is being delivered on a date after the Close of Business on a Regular Record Date and prior to the Open of Business on the Interest Payment Date corresponding to such Regular Record Date, this notice must be accompanied by payment of an
amount equal to the interest payable on such Interest Payment Date on the principal amount of this Note to be converted. If any shares of Common Stock are to be issued in the name of a Person other than the undersigned, the undersigned will pay all
transfer taxes payable with respect to such issuance and transfer as set forth in the Indenture. 
 Principal amount to be converted (if less than all):

 $             

Dated:             
  

			
		  	 Signature(s)
 (Sign exactly as your name appears
on the other side of this Note)
  
 Signature Guarantee

(Signature(s) must be guaranteed by an institution which is a member of one of the following recognized signature Guarantee Programs:

(i) The Notes Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) another guarantee
program acceptable to the Trustee.)

 Fill in if a check is to be issued, or shares of Common Stock or Notes are to be registered, otherwise than to or in the name
of the registered Holder. 
 (Name) 
 (Address) 

Please print name and address 
 (including zip code) 

(Social Security or other Taxpayer 
 Identifying Number) 

  
 71 

 Dated:             

 

			
		  	 Signature(s)
 (Sign exactly as such
Person’s name appears above)
  
 Signature Guarantee

(Signature(s) must be guaranteed by an institution which is a member of one of the following recognized signature Guarantee Programs:

(i) The Notes Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange
Medallion Program (SEMP) or (iv) another guarantee program acceptable to the Trustee.)

  
 72 

 ATTACHMENT 2 

[FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE] 

To:        SunEdison, Inc. 

The undersigned registered owner of this Note hereby acknowledges receipt of a Fundamental Change Company Notice from SunEdison, Inc. (the
“Company”) as to the occurrence of a Fundamental Change with respect to the Company and specifying the Fundamental Change Purchase Date and requests and instructs the Company to pay to the registered holder hereof in accordance with
the applicable provisions of the Indenture referred to in this Note (i) the entire principal amount of this Note, or the portion thereof (that is such that the portion not to be purchased has a principal amount equal to $100 or an integral
multiple of $100 in excess thereof) below designated, and (ii) if such Fundamental Change Purchase Date does not occur during the period after a Regular Record Date and on or prior to the Interest Payment Date corresponding to such Regular
Record Date, accrued and unpaid interest, if any, thereon to, but excluding, such Fundamental Change Purchase Date. 
 Principal amount to be
purchased (if less than all): 
 $             

Certificate number (if Notes are in certificated form) 

Dated:             
  

			
		  	 Signature(s)
 (Sign exactly as your name appears
on the other side of this Note)
  
 Social Security or Other Taxpayer Identification
Number

  
 73 

 ATTACHMENT 3 

[Insert for Global Note] 

SCHEDULE OF INCREASES AND DECREASES IN THE GLOBAL NOTE 

Initial Principal Amount of Global Note: 
  

									
	 Date
	  	Amount of Increase
in Principal
Amount of
Global Note	  	Amount of
Decrease in
Principal Amount
of Global Note	  	Principal Amount
of Global Note
After Increase or
Decrease	  	Notation by
Registrar, Note
Custodian or
authorized
signatory of
Trustee
		  		  		  		  	

  
 74

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