Document:

First Supplemental Indenture to the Senior Debt Securities

 Exhibit 4.2 
  

 PILGRIM’S PRIDE CORPORATION, 
 as Issuer 
 AND 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 
 as Trustee 
  

 7 5/8 % SENIOR NOTES DUE 2015 
 FIRST SUPPLEMENTAL INDENTURE 
 DATED AS OF 
 January 24, 2007 
  

  

 TABLE OF CONTENTS 
  

							
	 	  	 	  	Page
	 ARTICLE 1          ESTABLISHMENT
	  	1
				
		  	SECTION 1.01.	  	Establishment	  	1
		
	 ARTICLE 2          DEFINITIONS AND INCORPORATION BY REFERENCE
	  	2
				
		  	SECTION 2.01.	  	Definitions	  	2
		  	SECTION 2.02.	  	Other Definitions	  	25
		
	 ARTICLE 3          THE NOTES
	  	26
				
		  	SECTION 3.01.	  	Form and Dating	  	26
		  	SECTION 3.02.	  	Execution and Authentication	  	27
		  	SECTION 3.03.	  	Registrar and Paying Agent	  	27
		  	SECTION 3.04.	  	Paying Agent to Hold Money in Trust	  	28
		  	SECTION 3.05.	  	Holder Lists	  	28
		  	SECTION 3.06.	  	Transfer and Exchange	  	28
		  	SECTION 3.07.	  	Replacement Notes	  	31
		  	SECTION 3.08.	  	Outstanding Notes	  	31
		  	SECTION 3.09.	  	Treasury Notes	  	32
		  	SECTION 3.10.	  	Temporary Notes	  	32
		  	SECTION 3.11.	  	Cancellation	  	32
		  	SECTION 3.12.	  	CUSIP or ISIN Numbers	  	33
		  	SECTION 3.13.	  	Additional Notes	  	33
		
	 ARTICLE 4          REDEMPTION AND PREPAYMENT
	  	33
				
		  	SECTION 4.01.	  	Notices to Trustee	  	34
		  	SECTION 4.02.	  	Selection of Notes to be Redeemed	  	34
		  	SECTION 4.03.	  	Notice of Redemption	  	34
		  	SECTION 4.04.	  	Effect of Notice Upon Redemption	  	35
		  	SECTION 4.05.	  	Deposit of Redemption Price	  	35
		  	SECTION 4.06.	  	Notes Redeemed in Part	  	36
		  	SECTION 4.07.	  	Optional Redemption	  	36
		  	SECTION 4.08.	  	Offer to Purchase by Application of Excess Proceeds	  	37

  

 ii 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	ARTICLE 5          COVENANTS	  	39
			
	SECTION 5.01.	  	Payment of Notes	  	39
	SECTION 5.02.	  	Maintenance of Office or Agency	  	39
	SECTION 5.03.	  	Reports	  	40
	SECTION 5.04.	  	Compliance Certificate	  	40
	SECTION 5.05.	  	Taxes	  	41
	SECTION 5.06.	  	Stay, Extension and Usury Laws	  	41
	SECTION 5.07.	  	Corporate Existence	  	41
	SECTION 5.08.	  	Payments for Consent	  	41
	SECTION 5.09.	  	Incurrence of Indebtedness and Issuance of Preferred Stock	  	42
	SECTION 5.10.	  	Liens	  	46
	SECTION 5.11.	  	Restricted Payments	  	46
	SECTION 5.12.	  	Asset Sales	  	50
	SECTION 5.13.	  	Dividend And Other Payment Restrictions Affecting Restricted Subsidiaries	  	52
	SECTION 5.14.	  	Affiliate Transactions	  	54
	SECTION 5.15.	  	Designation of Restricted and Unrestricted Subsidiaries	  	55
	SECTION 5.16.	  	Offer To Repurchase Upon Change Of Control Triggering Event	  	56
	SECTION 5.17.	  	Issuance of Guarantees by Domestic Restricted Subsidiaries	  	57
	SECTION 5.18.	  	Suspension of Covenants	  	58
	SECTION 5.19.	  	Further Instruments and Acts	  	58
		
	ARTICLE 6          CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	  	58
			
	SECTION 6.01.	  	Merger, Consolidation, or Sale of Assets	  	59
	SECTION 6.02.	  	Successor Corporation Substituted	  	60
		
	ARTICLE 7          DEFAULTS AND REMEDIES	  	60
			
	SECTION 7.01.	  	Events of Default	  	60
	SECTION 7.02.	  	Acceleration	  	62
	SECTION 7.03.	  	Other Remedies	  	63

  

 iii 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	SECTION 7.04.	  	Waiver of Past Defaults	  	63
	SECTION 7.05.	  	Control by Majority	  	63
	SECTION 7.06.	  	Limitation on Suits	  	64
	SECTION 7.07.	  	Rights of Holders of Notes to Receive Payment	  	64
	SECTION 7.08.	  	Collection Suit by Trustee	  	64
	SECTION 7.09.	  	Trustee May File Proofs of Claim	  	64
	SECTION 7.10.	  	Priorities	  	65
	SECTION 7.11.	  	Undertaking for Costs	  	65
		
	ARTICLE 8          LEGAL DEFEASANCE AND COVENANT DEFEASANCE	  	66
			
	SECTION 8.01.	  	Option to Effect Legal Defeasance or Covenant Defeasance	  	66
	SECTION 8.02.	  	Legal Defeasance and Discharge	  	66
	SECTION 8.03.	  	Covenant Defeasance	  	67
	SECTION 8.04.	  	Conditions to Legal Defeasance or Covenant Defeasance	  	67
	SECTION 8.05.	  	Deposited Cash and U.S. Government Obligations To Be Held In Trust; Other Miscellaneous Provisions	  	68
	SECTION 8.06.	  	Repayment to Company	  	69
	SECTION 8.07.	  	Reinstatement	  	69
		
	ARTICLE 9          AMENDMENT, SUPPLEMENT AND WAIVER	  	70
			
	SECTION 9.01.	  	Without the Consent of Holders	  	70
	SECTION 9.02.	  	With Consent of Holders of Notes	  	71
	SECTION 9.03.	  	Compliance with Trust Indenture Act	  	72
	SECTION 9.04.	  	Revocation and Effect of Consents	  	72
	SECTION 9.05.	  	Notation on or Exchange of Notes	  	73
	SECTION 9.06.	  	Trustee to Sign Amendments	  	73
		
	ARTICLE 10          SUBSIDIARY GUARANTEES	  	73
			
	SECTION 10.01.	  	Subsidiary Guarantee	  	73
	SECTION 10.02.	  	Additional Guarantees	  	75
	SECTION 10.03.	  	Limitation on Guarantor Liability	  	76
	SECTION 10.04.	  	Guarantors May Merge, Consolidate, Etc., On Certain Terms	  	76

  

 iv 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	SECTION 10.05.	  	Releases of Subsidiary Guarantees	  	77
		
	ARTICLE 11          SATISFACTION AND DISCHARGE	  	78
	SECTION 11.01.	  	Satisfaction and Discharge	  	78
	SECTION 11.02.	  	Deposited Cash and U.S. Government Obligations To Be Held In Trust; Other Miscellaneous Provisions	  	78
	SECTION 11.03.	  	Repayment to Company	  	79
		
	ARTICLE 12          MISCELLANEOUS	  	79
			
	SECTION 12.01.	  	No Personal Liability of Directors, Officers, Employees and Stockholders	  	79
	SECTION 12.02.	  	Governing Law	  	79
	SECTION 12.03.	  	No Adverse Interpretation of Other Agreements	  	80
	SECTION 12.04.	  	Successors	  	80
	SECTION 12.05.	  	Severability	  	80
	SECTION 12.06.	  	Counterpart Originals	  	80
	SECTION 12.07.	  	Table of Contents, Headings, Etc	  	80

  

 v 

 This FIRST SUPPLEMENTAL INDENTURE, dated as of January 24, 2007 (this “Supplemental
Indenture”), is by and between Pilgrim’s Pride Corporation, a Delaware corporation (such corporation and any successor as defined in the Base Indenture, the “Company”), and Wells Fargo Bank, National
Association, as trustee (such institution and any successor as defined in the Base Indenture, the “Trustee”). 
 WITNESSETH: 
 WHEREAS, the Company has previously executed and delivered an Indenture, dated as of January 24, 2007 (the
“Base Indenture”), with the Trustee providing for the issuance from time to time of one or more series of the Company’s senior debt securities; 
 WHEREAS, Section 301 of the Base Indenture provides that the Company and the Trustee may enter into an indenture supplemental to the Base Indenture
to establish the form or terms of Securities of any series as permitted by Section 301 and Section 901 of the Base Indenture; and 
 WHEREAS, the Company is entering into this First Supplemental Indenture to establish the form and terms of its 7 5/8% Senior Notes due May 1, 2015 (the “Notes”); 
 WHEREAS, the Base Indenture is
incorporated herein by reference and the Base Indenture, as supplemented by this Supplemental Indenture is herein called the “Indenture” as that term is defined in the Base Indenture; and 
 WHEREAS, all conditions necessary to authorize the execution and delivery of this Supplemental Indenture and to make it a valid and binding obligation of
the Company have been done or performed. 
 NOW, THEREFORE, in consideration of the agreements and obligations set forth herein and for other
good and valuable consideration, the sufficiency of which is hereby acknowledged, the Company and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the Notes. 
 ARTICLE 1 
 ESTABLISHMENT 
 SECTION 1.01. Establishment. 
 (a)
There is hereby established a new series of Securities to be issued under the Indenture, to be designated as the Company’s 7 5/8% Senior Notes due 2015. 
 (b) There are to be authenticated and delivered on the date hereof
Four Hundred Million Dollars ($400,000,000) aggregate principal amount of the Notes. 
 (c) The Notes shall be issued in the
form of one or more permanent Global Notes in substantially the form set out in Exhibit A hereto. 
  

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 (d) Each Note shall be dated the date of authentication thereof and shall bear interest
from the date of original issuance thereof or from the most recent date to which interest has been paid or duly provided for. 
 (e) If and to the extent that the provisions of the Base Indenture are duplicative of, or in contradiction with, the provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture shall govern the terms of the
Notes. 
 (f) The Notes (including the Initial Notes authenticated on the date hereof and any Additional Notes that may be
issued hereunder) shall be “Designated Senior Indebtedness” as such term is defined in each of the Company’s Existing Subordinated Notes Indenture and the Subordinated Notes Indenture. 
 ARTICLE 2 
 DEFINITIONS AND INCORPORATION BY
REFERENCE 
 SECTION 2.01. Definitions. 
 (a) All capitalized terms used herein and not otherwise defined below shall have the meaning ascribed thereto in the Base Indenture. 
 (b) The following are definitions used in this Supplemental Indenture and to the extent that a term is defined both herein and in the Base
Indenture, the definitions in this Supplemental Indenture shall govern with respect to the Notes: 
 “Acquired Debt”
means, with respect to any specified Person: 
 (i) Indebtedness of any other Person existing at the time such other Person is merged with or
into, or became a Subsidiary of, such specified Person, whether or not such Indebtedness is incurred in connection with, or in contemplation of, such other Person merging with or into, or becoming a Subsidiary of, such specified Person; and

 (ii) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. 
 “Additional Notes” means any Notes (other than Initial Notes) issued under this Indenture in accordance with Sections 3.01, 3.02
and 3.13 of this Supplemental Indenture, as part of the same series as the Initial Notes or as an additional series. 
 “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 purposes of this definition,
“control,” as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting
securities, by agreement or otherwise; provided, that beneficial ownership of 10% or more of the total voting power of the Voting Stock of a Person shall be deemed to be control. For purposes of this definition, the terms
“controlling,” “controlled by” and “under common control with” shall have correlative meanings. 
  

 2 

 “Agent” means any Registrar, co-registrar, Paying Agent or additional paying
agent. 
 “Applicable Procedures” means, with respect to any transfer, redemption or exchange of or for beneficial
interests in any Global Note, the rules and procedures of the Depositary that apply to such transfer, redemption or exchange. 
 “Asset Sale” means: 
 (a) the sale, lease, conveyance or other disposition of any assets or
rights, other than sales of inventory in the ordinary course of business; provided, that the sale, conveyance or other disposition of all or substantially all of the assets of the Company and its Restricted Subsidiaries taken as a whole will be
governed by the provisions of Section 5.16 hereof and/or the provisions of Article 6 hereof and not by the provisions of Section 5.12 hereof; and 
 (b) the issuance of Equity Interests by any of the Company’s Restricted Subsidiaries or the sale of Equity Interests in any of its Restricted Subsidiaries. 
 Notwithstanding the preceding, the following items shall not be deemed to be Asset Sales: 
 (i) any single transaction or series of related transactions that involves assets having a fair market value of less than $5.0 million; 
 (ii) a transfer of assets between or among the Company and its Restricted Subsidiaries; 
 (iii) an issuance of Equity Interests by a Restricted Subsidiary to the Company or to another Restricted Subsidiary; 
 (iv) the sale, lease or transfer, as applicable, of equipment, inventory, accounts receivable (or interests therein) or other assets in the ordinary
course of business or pursuant to a Permitted Securitization Program; 
 (v) the sale or other disposition of cash or Cash Equivalents and
Investment Securities; and 
 (vi) the sale, lease or other disposition of any assets or rights to the extent constituting a Restricted
Payment or Permitted Investment that is permitted by Section 5.11 hereof; 
 (vii) any sale or other disposition of damaged, worn-out,
obsolete or no longer useful assets or properties in the ordinary course of business; 
 (viii) the sale or discounting of accounts
receivable in the ordinary course of business; 
  

 3 

 (ix) any sale of assets received (x) in compromise of (1) obligations of trade creditors or
customers owing to the Company or a Restricted Subsidiary incurred in the ordinary course of business, including pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency of any trade creditor or customer or
(2) litigation, arbitration or other disputes; or (y) as a result of a foreclosure by the Company or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured
Investment in default; 
 (x) the sale or lease of inventory, products or services or the lease, assignment or sub-lease of any real or
personal property in the ordinary course of business; 
 (xi) any sale of Equity Interests in, or Indebtedness or other securities of, an
Unrestricted Subsidiary; 
 (xii) the granting of Liens not otherwise prohibited by this Indenture; and 
 (xiii) the surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims. 
 “Attributable Debt” in respect of a sale and leaseback transaction means, at the time of determination, the present value of the
obligation of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction including any period for which such lease has been extended or may, at the option of the lessor, be extended.
Such present value shall be calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with GAAP. 
 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal, state or foreign law for the relief of debtors. 
 “Board of Directors” means (i) with respect to a corporation, the board of directors or a duly authorized committee of the board of directors of the corporation, (ii) with respect to
a partnership, the board of directors or a duly authorized committee of the board of directors of the general partner of the partnership or, in the case of a general partner other than a corporation, the Person or the board or committee of such
person serving a similar function; and (iii) with respect to any other Person, the board or committee of such Person serving a similar function. 
 “Capital Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at that time be required to be
capitalized on a balance sheet in accordance with GAAP. 
 “Capital Stock” means: 
 (i) in the case of a corporation, corporate stock; 
 (ii) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; 
  

 4 

 (iii) in the case of a partnership or limited liability company, partnership or membership interests
(whether general or limited); and 
 (iv) any other interest or participation that confers on a Person the right to receive a share of the
profits and losses of, or distributions of assets of, the issuing Person, but in any event excluding interests in pools of accounts receivable or inventory sold by a Securitization Subsidiary pursuant to a Permitted Securitization Program.

 “Cash Equivalents” means: 
 (i) United States dollars; 
 (ii) securities issued or directly and fully guaranteed or insured by the
United States government or any agency or instrumentality thereof (provided, that the full faith and credit of the United States is pledged in support thereof) having maturities of not more than six months from the date of acquisition; 

(iii) certificates of deposit and Eurodollar time deposits with maturities of six months or less from the date of acquisition, bankers’
acceptances with maturities not exceeding six months and overnight bank deposits, in each case, with any domestic commercial bank having capital and surplus in excess of $500.0 million and a Thomson Bank Watch Rating of “B” or better;

 (iv) repurchase obligations with a term of not more than seven days for underlying securities of the types described in clauses
(ii) and (iii) of this definition entered into with any financial institution meeting the qualifications specified in clause (iii) of this definition; 
 (v) commercial paper having the highest rating obtainable from Moody’s or S&P and in each case maturing within six months after the date of acquisition; and 
 (vi) money market funds at least 95% of the assets of which constitute Cash Equivalents of the kinds described in clauses (i) through (v) of
this definition. 
 “Change of Control” means the occurrence of any of the following: 
 (i) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related
transactions, of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as a whole to any “person” or “group” (as such terms are used in Section 13(d)(3) of the Exchange Act) other
than a Restricted Subsidiary; 
 (ii) any “person” or “group” (as such terms are used in Section 13(d)(3) of the
Exchange Act), other than the Pilgrim Family, becomes the ultimate “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of more than 50% of the total voting power of the Voting Stock of the Company on a fully-diluted basis;

 (iii) the adoption of a plan relating to the liquidation or dissolution of the Company; 
  

 5 

 (iv) the consummation of any transaction (including, without limitation, any merger, consolidation or
recapitalization) to which the Company is a party the result of which is that, immediately after such transaction, the holders of all of the outstanding Voting Stock of the Company immediately prior to such transaction hold less than 50.1% of the
Voting Stock of the Person surviving such transaction, measured by voting power rather than number of shares; or 
 (v) the first day on
which a majority of the members of the Board of Directors of the Company are not Continuing Directors. 
 “Change of Control
Triggering Event” means the occurrence of both a Change of Control and a Ratings Decline. 
 “Consolidated Cash
Flow” means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for such period plus: 
 (i) an amount equal to any extraordinary loss plus any net loss realized by such Person or any of its Restricted Subsidiaries in connection with an Asset Sale, to the extent such losses were deducted in computing such Consolidated Net
Income; plus 
 (ii) provision for taxes based on income or profits of such Person and its Restricted Subsidiaries for such period, to the
extent that such provision for taxes was deducted in computing such Consolidated Net Income; plus 
 (iii) consolidated interest expense of
such Person and its Restricted Subsidiaries for such period, whether paid or accrued and whether or not capitalized (including, without limitation, amortization of original issue discount, non-cash interest payments, the interest component of any
deferred payment obligations, the interest component of all payments associated with Capital Lease Obligations, imputed interest with respect to Attributable Debt, commissions, discounts and other fees and charges incurred in respect of letter of
credit or bankers’ acceptance financings, and net of the effect of all payments made or received pursuant to Hedging Obligations), to the extent that any such expense was deducted in computing such Consolidated Net Income; plus 
 (iv) depreciation, amortization (including amortization of goodwill and other intangibles but excluding amortization of prepaid cash expenses that were
paid in a prior period) and other non-cash expenses (excluding any such non-cash expense to the extent that it represents an accrual of or reserve for cash expenses in any future period or amortization of a prepaid cash expense that was paid in a
prior period) of such Person and its Restricted Subsidiaries for such period to the extent that such depreciation, amortization and other non-cash expenses were deducted in computing such Consolidated Net Income; minus 
 (v) non-cash items increasing such Consolidated Net Income for such period, other than the accrual of revenue in the ordinary course of business, in each
case, on a consolidated basis and determined in accordance with GAAP. 
 Notwithstanding the preceding, the provision for taxes based on the
income or profits of, and the depreciation and amortization and other non-cash expenses of, a Restricted Subsidiary of the Company, unless such Restricted Subsidiary is a Guarantor and its Subsidiary Guarantee 

  

 6 

 
remains in full force and effect, shall be added to Consolidated Net Income to compute Consolidated Cash Flow of the Company only to the extent that a
corresponding amount would be permitted at the date of determination to be dividended or distributed to the Company or a Restricted Subsidiary by such Restricted Subsidiary without prior governmental approval (that has not been obtained), and
without direct or indirect restriction pursuant to the terms of its charter and all agreements, instruments, judgments, decrees, orders, statutes, rules and governmental regulations applicable to that Restricted Subsidiary or its stockholders.

 “Consolidated Net Income” means, with respect to any specified Person for any period, the aggregate of the Net
Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; provided, that: 
 (i) the Net Income of any Person that is not a Restricted Subsidiary or that is accounted for by the equity method of accounting shall be included only to the extent of the amount of dividends or distributions paid in cash to the specified
Person or a Restricted Subsidiary thereof; 
 (ii) the Net Income of any Restricted Subsidiary, unless such Restricted Subsidiary is a
Guarantor and its Subsidiary Guarantee remains in full force and effect, shall be excluded to the extent that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of that Net Income is not at the date of
determination permitted without any prior governmental approval (that has not been obtained) or, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental
regulation applicable to that Restricted Subsidiary or its stockholders, provided that the aggregate amount of such Net Income that could be paid to the Company or a Restricted Subsidiary by loans or advances or repayments of loans or advances,
intercompany transfer or otherwise will be included in Consolidated Net Income; 
 (iii) the cumulative effect of a change in accounting
principles shall be excluded; 
 (iv) any unrealized non-cash gains or losses or charges in respect of hedge or non-hedge derivatives
(including those resulting from the application of Statements of Financial Accounting Standards No. 133) shall be excluded; 
 (v) any
non-cash impairment charges resulting from the application of Statements of Financial Accounting Standards No. 142 and No. 144 and the amortization of intangibles pursuant to Statement of Financial Accounting Standards No. 141 shall
be excluded; and 
 (vi) any non-cash charges associated with any premium or penalty paid, write-off of deferred financing costs or other
financial recapitalization charges in connection with redeeming or retiring any Indebtedness prior to its Stated Maturity to the extent deducted in the calculation of Net Income shall be excluded. 
 “Consolidated Net Worth” means the total of the amounts shown on the balance sheet of the Company and its consolidated Restricted
Subsidiaries, determined on a consolidated basis in accordance with GAAP, as of the end of the most recent fiscal quarter for which the Company either (i) has filed financial statements with the Commission or (ii) if the Company does not
file reports with the Commission, has internal financial statements available prior to the taking of 

  

 7 

 
any action for the purpose of which the determination is being made, as the sum of: (i) the par or stated value of all outstanding Capital Stock of the
Company, plus (ii) paid-in capital or capital surplus relating to such Capital Stock plus (iii) any retained earnings or earned surplus less (a) any accumulated deficit and (b) any amounts attributable to Disqualified Stock.

 “Continuing Directors” means, as of any date of determination, any member of the board of directors of the Company
who: 
 (i) was a member of such board of directors on the Issue Date; or 
 (ii) was nominated for election or elected to such board of directors with the approval of a majority of the Continuing Directors who were members of
such board at the time of such nomination or election. 
 “Credit Facilities” means, one or more debt facilities
(including, without limitation, the Existing Credit Facilities) or commercial paper facilities or Debt Issuances, in each case with banks, investment banks, insurance companies, mutual funds and/or other institutional lenders or institutional
investors providing for revolving credit loans, term loans, receivables or inventory financing (including through the sale of receivables or inventory to such lenders or investors or to special purpose entities formed to borrow from (or sell
receivables to) such lenders or investors against such receivables or inventory), letters of credit or Debt Issuances, in each case, as amended, extended, renewed, restated, refinanced (including refinancing with Debt Issuances), supplemented or
otherwise modified (in whole or in part, and without limitation as to amounts, terms, conditions, covenants and other provisions) from time to time. 
 “Custodian” means, with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in Section 3.03 hereof as Custodian with respect to the Notes, any
and all successors thereto appointed as custodian hereunder and having become such pursuant to the applicable provisions of this Indenture. 
 “Debt Issuances” means, with respect to the Company or any of its Restricted Subsidiaries, one or more issuances of Indebtedness evidenced by notes, debentures, bonds or other similar securities or instruments after
the Issue Date. 
 “Debt Rating” means the rating assigned to the Notes by Moody’s or S&P, as the case may
be. 
 “Default” means any event, act or condition that is, or after notice or with the passage of time or both would
be, an Event of Default. 
 “Definitive Note” means a certificated Note registered in the name of the Holder thereof
and issued in accordance with Section 3.06 hereof, in substantially the form of Exhibit A hereto except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the Global
Note” attached thereto. 
 “Depositary” means, with respect to the Notes issuable or issued in whole or in part
in global form, the Person specified in Section 3.03 hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the applicable provisions of this
Indenture. 
  

 8 

 “Disqualified Stock” means any Capital Stock that, by its terms (or by the terms
of any security into which it is convertible, or for which it is exchangeable, in each case at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or
otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature. Notwithstanding the preceding sentence, any Capital Stock that would constitute
Disqualified Stock solely because the holders thereof have the right to require the Company to repurchase such Capital Stock upon the occurrence of a Change of Control or an Asset Sale shall not constitute Disqualified Stock if the terms of such
Capital Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant to such provisions unless such repurchase or redemption complies with Section 5.11 hereof. 
 “Domestic Borrowing Base” means, as of a date of determination, the sum of (i) 85% of the book value of the outstanding
accounts receivable of the Company and its Domestic Restricted Subsidiaries (as such accounts receivable would be shown on a consolidated balance sheet of the Company and its Domestic Restricted Subsidiaries prepared in accordance with GAAP), less
allowance for doubtful accounts, plus (ii) 80% of the inventory of the Company and its Domestic Restricted Subsidiaries (as such inventory would be shown on a consolidated balance sheet of the Company and its Domestic Restricted Subsidiaries
prepared in accordance with GAAP); provided, that for purposes of determining the Domestic Borrowing Base as of a date of determination, any accounts receivable or inventory that has been sold or otherwise transferred to a Securitization Subsidiary
pursuant to a Permitted Securitization Program shall not be included in the Domestic Borrowing Base for purposes of the calculation thereof. 
 “Domestic Restricted Subsidiary” means any Restricted Subsidiary that was formed under the laws of the United States or any state thereof or the District of Columbia. 
 “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt
security that is convertible into, or exchangeable for, Capital Stock). 
 “Equity Offering” means any public or
private sale of the Company’s Equity Interests (other than Disqualified Stock) (but excluding in any event any issuance pursuant to employee benefit plans or otherwise in connection with the compensation of officers, directors or employees).

 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the
Commission promulgated thereunder. 
 “Existing Credit Facilities” means, collectively, the Existing U.S. Credit
Facilities and the Existing Foreign Credit Facility. 
 “Existing Foreign Credit Facility” means the facility
evidenced by the Credit Agreement, by and among Avicola Pilgrim’s Pride de Mexico, S. de R.L. de C.V., the Company, certain subsidiaries of Avicola Pilgrim’s Pride de Mexico, S. de R.L. de C.V., ING Capital LLC, 

  

 9 

 
ING Bank (Mexico), S.A. Institucion de Banca Multiple, ING Grupo Financiero, BBVA Bancomer, S.A., Institucion de Banca Multiple, Grupo Financiero BBVA
Bancomer, Bank of America N.A., Comerica Bank and the several lenders from time to time party thereto, dated as of September 25, 2006, and the related notes, collateral documents, guarantees and agreements, each as amended through the Issue
Date. 
 “Existing Senior Guarantee” means a Subsidiary’s Guarantee of the Existing Senior Notes. 
 “Existing Senior Notes” means the 9 5/8% Senior Notes due 2011 of the Company issued under the Existing Senior Notes Indenture. 
 “Existing Senior Notes Indenture” means the Indenture dated as August 9, 2001, by and between the Company and JPMorgan Chase Bank, formerly known as The Chase Manhattan Bank, as trustee, governing the Existing
Senior Notes, as amended or supplemented from time to time. 
 “Existing Subordinated Guarantee” means a
Subsidiary’s Guarantee of the Existing Subordinated Notes. 
 “Existing Subordinated Notes” means the 9 1/4% Senior Subordinated Notes due 2013 of the Company issued under the Existing Subordinated Notes Indenture.

 “Existing Subordinated Notes Indenture” means the Subordinated Indenture dated as November 21, 2003,
by and between the Company and The Bank of New York, as trustee, governing the Existing Subordinated Notes, as amended or supplemented from time to time. 
 “Existing U.S. Credit Facilities” means: 
 (i) the facility evidenced by the 2006
Amended and Restated Credit Agreement by and among the Company, CoBank, ACB, Agriland, FCS, and other syndication parties named therein, dated as of September 21, 2006, and the related notes, collateral documents, guarantees and agreements,
each as amended through the Issue Date; and 
 (ii) the facility evidenced by the Third Amended and Restated Secured Credit Agreement, by and
among the Company and Harris N.A., SunTrust Bank, U.S. Bank National Association, Wells Fargo Bank, National Association and the lenders from time to time party thereto, dated as of April 7, 2004, and the related notes, collateral documents,
guarantees and agreements, each as amended through the Issue Date. 
 “Fixed Charge Coverage Ratio” means with
respect to any specified Person for any period, the ratio of the Consolidated Cash Flow of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries
incurs, assumes, Guarantees, repays, repurchases or redeems any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems Preferred Stock subsequent to the commencement of the period for which the Fixed Charge
Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed 

  

 10 

 
Charge Coverage Ratio shall be calculated giving pro forma effect to such incurrence, assumption, Guarantee, repayment, repurchase or redemption of
Indebtedness, or such issuance, repurchase or redemption of Preferred Stock, and the use of the proceeds therefrom as if the same had occurred at the beginning of the applicable eight-quarter reference period. 
 In addition, for purposes of calculating the Fixed Charge Coverage Ratio: 
 (i) acquisitions that have been made by the specified Person or any of its Restricted Subsidiaries, including through mergers or consolidations and including any related financing transactions, during the
eight-quarter reference period or subsequent to such reference period and on or prior to the Calculation Date shall be given pro forma effect as if they had occurred on the first day of the eight-quarter reference period and Consolidated Cash Flow
for such reference period shall be calculated on a pro forma basis, including any pro forma expense and cost reductions and other operating improvements that have occurred or are reasonably expected to occur in the next twelve months, in the
reasonable judgment of the Company’s chief financial officer (regardless of whether these costs savings or operating improvements could then be reflected in pro forma financial statements in accordance with Regulation S-X promulgated under the
Securities Act or any other regulation or policy of the Commission related thereto), but without giving effect to clause (iii) of the proviso set forth in the definition of Consolidated Net Income; 
 (ii) the Consolidated Cash Flow attributable to discontinued operations, as determined in accordance with GAAP, and operations or businesses disposed of
prior to the Calculation Date, shall be excluded; and 
 (iii) the Fixed Charges attributable to discontinued operations, as determined in
accordance with GAAP, and operations or businesses disposed of prior to the Calculation Date, shall be excluded, but only to the extent that the obligations giving rise to such Fixed Charges will not be obligations of the specified Person or any of
its Restricted Subsidiaries following the Calculation Date. 
 “Fixed Charges” means, with respect to any specified
Person for any period, the sum, without duplication, of: 
 (i) the consolidated interest expense of such Person and its Restricted
Subsidiaries for such period, whether paid or accrued, including, without limitation, amortization of original issue discount, non-cash interest payments, the interest component of any deferred payment obligations, the interest component of all
payments associated with Capital Lease Obligations, imputed interest with respect to Attributable Debt, commissions, discounts and other fees and charges incurred in respect of letter of credit or bankers’ acceptance financings, and net of the
effect of all payments made or received pursuant to Hedging Obligations; plus 
 (ii) any interest expense on Indebtedness of another Person
that is guaranteed by such Person or one of its Restricted Subsidiaries or secured by a Lien on assets of such Person or one of its Restricted Subsidiaries, whether or not such Guarantee or Lien is called upon; plus 
 (iii) the product of (a) all dividends, whether paid or accrued, whether or not in cash, on any series of Preferred Stock of such Person or any of
its Restricted Subsidiaries, other than 

  

 11 

 
dividends on Equity Interests payable solely in Equity Interests of such Person (other than Disqualified Stock) or to such Person or a Restricted Subsidiary
of such Person, times (b) a fraction, the numerator of which is one and the denominator of which is one minus the then current combined federal, state and local statutory tax rate of such Person, expressed as a decimal, in each case, on a
consolidated basis and in accordance with GAAP. 
 “Foreign Borrowing Base” means, as of a date of determination, the
sum of (i) 85% of the book value of the outstanding accounts receivable of the Company’s Foreign Restricted Subsidiaries (as such accounts receivable would be shown on a combined balance sheet of the Company’s Foreign Restricted
Subsidiaries prepared in accordance with GAAP), less allowance for doubtful accounts, plus (ii) 80% of the inventory of the Company’s Foreign Restricted Subsidiaries (as such inventory would be shown on a combined balance sheet of the
Company’s Foreign Restricted Subsidiaries prepared in accordance with GAAP); provided, that for purposes of determining the Foreign Borrowing Base as of a date of determination, any accounts receivable or inventory that has been sold or
otherwise transferred to a Securitization Subsidiary pursuant to a Permitted Securitization Program shall not be included in the Foreign Borrowing Base for purposes of the calculation thereof. 
 “Foreign Restricted Subsidiary” means any Restricted Subsidiary that is not a Domestic Restricted Subsidiary and with respect to
which more than 80% of its assets (determined on a consolidated basis in accordance with GAAP) are located in territories and jurisdictions outside of the United States of America. 
 “GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles
Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the
accounting profession, which are in effect on the Issue Date. 
 “Global Note Legend” means the legend set forth on
Exhibit A hereto, which is required to be placed on all Global Notes issued under this Indenture. 
 “Global
Notes” means the global Notes in the form of Exhibit A hereto issued in accordance with Article 3 hereof. 
 “Guarantee” means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge
of assets or through letters of credit or reimbursement agreements in respect thereof, of all or any part of any Indebtedness. 
 “Guarantors” means any Domestic Restricted Subsidiary that executes a Subsidiary Guarantee in accordance with the provisions of this Indenture and their respective successors and assigns. 
 “Hedging Obligations” means, with respect to any specified Person, the obligations of such Person under: 
 (i) interest rate swap agreements, interest rate cap agreements and interest rate collar agreements and other agreements or arrangements designed to
protect such Person against fluctuations in interest rates; 
  

 12 

 (ii) any foreign exchange contract, currency swap agreement or other similar agreement or arrangement
designed to protect such Person against fluctuations in currency values; and 
 (iii) any commodity futures or option contract or other
similar commodity hedging contract designed to protect such person against fluctuations in commodity prices. 
 “Holder” means a Person in whose name a Note is registered. 
 “Indebtedness” means,
with respect to any specified Person, any indebtedness of such Person, whether or not contingent, in respect of: 
 (i) borrowed money;

 (ii) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof)
(other than obligations with respect to letters of credit securing obligations (other than obligations described in clause (i), (ii) and (iv) of this definition) entered into in the ordinary course of business of such Person to the extent
that such letters of credit are not drawn upon); 
 (iii) banker’s acceptances; 
 (iv) representing Capital Lease Obligations; 
 (v) the balance deferred and unpaid of the purchase price of any property, except any such balance that constitutes an accrued expense or trade payable incurred in the ordinary course of business; or 
 (vi) representing any Hedging Obligations, 
 if and to the
extent any of the preceding items (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness”
includes all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the Guarantee by the specified Person of any
indebtedness of any other Person. 
 The amount of any Indebtedness outstanding as of any date shall be: 
 (i) the accreted value thereof, in the case of any Indebtedness issued with original issue discount; and 
 (ii) the principal amount thereof, together with any interest thereon that is more than 30 days past due, in the case of any other Indebtedness.

  

 13 

 “Independent Financial Advisor” means an accounting, appraisal, investment
banking firm or consultant to Persons of nationally recognized standing that is, in the judgment of the Company’s Board of Directors, qualified to perform the task for which it has been engaged. 
 “Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a Participant. 
 “Initial Notes” means $400,000,000 aggregate principal amount of Notes issued under this Indenture on the date hereof.

 “Intercompany Bonds” means an Investment by the Company or a Restricted Subsidiary in, and Indebtedness of the
Company or another Restricted Subsidiary incurred in connection with, bonds, notes, debentures or similar instruments issued by any federal, state or local government of the United States or any state, territory, municipality, regulatory or
administrative authority or instrumentality or agency thereof in which such bonds, notes, debentures or instruments are fully secured as to payment of both principal and interest by a requisition, loan, lease or similar payment agreement with the
Company or a Restricted Subsidiary. 
 “Interest Payment Date” shall have the meaning set forth in paragraph 1 of the
Note. 
 “Investment Grade Status” exists as of a date if at such date (i) the Debt Rating of Moody’s is at
least Baa3 (or the equivalent) or higher and (ii) the Debt Rating of S&P is at least BBB- (or the equivalent) or higher, or if either such entity ceases to rate the Notes for reasons outside of the Company’s control, the equivalent
investment grade credit rating from any other Rating Agency. 
 “Investments” means, with respect to any Person, all
investments by such Person in other Persons (including Affiliates) in the forms of direct or indirect loans (including Guarantees or other obligations), advances or capital contributions (excluding commission, travel and similar advances to officers
and employees made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities, together with all items that are or would be classified as investments on a balance
sheet prepared in accordance with GAAP. If the Company or any Restricted Subsidiary of the Company sells or otherwise disposes of any Equity Interests of any direct or indirect Restricted Subsidiary of the Company such that, after giving effect to
any such sale or disposition, such Person is no longer a Restricted Subsidiary of the Company, the Company shall be deemed to have made an Investment on the date of any such sale or disposition equal to the fair market value of the Equity Interests
of such Restricted Subsidiary not sold or disposed of in an amount determined as provided in Section 5.11(d) hereof. The acquisition by the Company or any Restricted Subsidiary of the Company of a Person that holds an Investment in a third
Person shall be deemed to be an Investment by the Company or such Restricted Subsidiary in such third Person in an amount equal to the fair market value of the Investment held by the acquired Person in such third Person in an amount determined as
provided in Section 5.11(d) hereof. In addition, the fair market value of the net assets of any Restricted Subsidiary at the time that such Restricted Subsidiary is designated an Unrestricted Subsidiary shall be deemed to be an
“Investment” made by the Company in such Unrestricted Subsidiary. 
  

 14 

 “Investment Securities” means: 
 (i) securities or obligations issued or directly and fully guaranteed or insured by the U.S. government or any agency or instrumentality thereof (other
than Cash Equivalents) and, in each case, with maturities not exceeding ten years from the date of acquisition; 
 (ii) Investments in any
fund that invests exclusively in Investments of the type described in clause (i), which fund may also hold immaterial amounts of cash pending investment and/or distribution; 
 (iii) repurchase agreements fully collateralized by U.S. government and/or agency securities with a maximum maturity of seven days; 
 (iv) Investments in (a) direct obligations and securities issued by any state of the U.S. or any political subdivision of any such state or public
instrumentality thereof, (b) debt securities of a corporation, including, corporate notes, medium term notes and Rule 144A private placement notes, (c) asset-backed securities, (d) mortgage-backed securities and commercial mortgage
backed securities, (e) collateralized mortgage obligations, (f) obligations of sovereign and supranational entities and other municipal debt obligations, (g) remarketed or auction rate preferred shares of closed end mutual funds,
(h) money market mutual funds with a minimum $1.0 billion average asset size for the previous 12 months, (i) common stock listed on a U.S. national stock exchange or traded in the over-the-counter market and (j) debt obligations of
non-U.S. governments, sovereign entities or supranational agencies, so long as, in each case, at the time of purchase or acquisition of any such Investment, (A) other than Investments described in sub-clauses (h) and (i) of this
clause (iv), the Investment had a long-term senior unsecured debt rating of not less than Baa3 by Moody’s and not less than BBB- by S&P and an effective maturity not exceeding ten years from the date of acquisition and (B) with respect
to Investments described in sub-clause (i) of this clause (iv), the aggregate amount of such Investments held by the Company at the time of acquisition of any such Investment does not exceed 10% of the total amount of Investment Securities then
held by the Company; and 
 (v) Investments in commercial paper rated P1 by Moody’s or A1 by S&P, which matures within one year of
issuance thereof, or in any fund that invests exclusively in such commercial paper. 
 “Issue Date” means the date of
the original issuance of the first Note under this Indenture. 
 “Lien” means, with respect to any asset, any
mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any
lease in the nature thereof, and any option or other agreement to sell or give a security interest in having substantially the same economic effect as any of the foregoing. 
 “Maturity Date” means May 1, 2015. 
 “Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business thereof. 
  

 15 

 “Net Income” means, with respect to any specified Person, the net income (loss)
of such Person, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends, excluding, however: 
 (i) any gain (or loss), together with any related provision for taxes on such gain (or loss), realized in connection with: (a) any Asset Sale (including, without limitation, dispositions pursuant to sale and leaseback transactions); or
(b) the disposition of any securities by such Person or any of its Restricted Subsidiaries or the extinguishment of any Indebtedness of such Person or any of its Restricted Subsidiaries; and 
 (ii) any extraordinary gain (or loss) or non-recurring gain (or loss), together with any related provision for taxes on such extraordinary gain (or loss)
or non-recurring gain (or loss). 
 “Net Proceeds” means the aggregate cash proceeds received by the Company or any
of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash received upon the sale or other disposition of any non-cash consideration received in any Asset Sale), net of the direct costs relating to such
Asset Sale, including, without limitation, legal, accounting and investment banking fees, and sales commissions, and any relocation expenses incurred as a result thereof, taxes paid or payable as a result thereof, in each case, after taking into
account any available tax credits or deductions and any tax sharing arrangements and amounts required to be applied to the repayment of Indebtedness, including any Indebtedness secured by a Lien on the asset or assets that were the subject of such
Asset Sale, and any reserve for adjustment in respect of the sale price of such asset or assets established in accordance with GAAP, including without limitation, pension and post-employment benefit liabilities and liabilities related to
environmental matters or against any indemnification obligations associated with such transaction. 
 “Non-Recourse
Indebtedness” means Indebtedness: 
 (i) as to which neither the Company nor any of its Restricted Subsidiaries (a) provides
credit support of any kind (including any undertaking, agreement or instrument that would constitute Indebtedness), (b) is directly or indirectly liable as a guarantor or otherwise or (c) constitutes the lender; and 
 (ii) no default with respect to which (including any rights that the holders thereof may have to take enforcement action against an Unrestricted
Subsidiary) would permit upon notice, lapse of time or both any holder of any other Indebtedness (other than the Notes) of the Company or any of its Restricted Subsidiaries to declare a default on such other Indebtedness or cause the payment thereof
to be accelerated or payable prior to its Stated Maturity. 
 “Obligations” means any principal, interest, penalties,
fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any Indebtedness. 
 “Officer” means the Chief Executive Officer, the President, the Chief Financial Officer, any Vice President, the Treasurer, the Controller, the Secretary or an Assistant Treasurer, Assistant Controller or Assistant
Secretary of the Company. 
  

 16 

 “Participant” means, with respect to the Depositary, a Person who has an account
with the Depositary. 
 “Permitted Acquisition Indebtedness” means Indebtedness or Disqualified Stock of the Company
or any of the Company’s Restricted Subsidiaries to the extent such Indebtedness or Disqualified Stock was Indebtedness or Disqualified Stock of: 
 (i) a Subsidiary (other than an Unrestricted Subsidiary) prior to the date on which such Subsidiary became a Restricted Subsidiary; or 
 (ii) a Person that was merged or amalgamated into the Company or a Restricted Subsidiary, provided that on the date such Subsidiary became a Restricted Subsidiary or the date such Person was merged and amalgamated
into the Company or a Restricted Subsidiary, as applicable, after giving pro forma effect thereto, (a) the Restricted Subsidiary or the Company, as applicable, would be permitted to incur at least $1.00 of additional Indebtedness pursuant to
the Fixed Charge Coverage Ratio test in Section 5.09(a) or (b) the Fixed Charge Coverage Ratio for the Restricted Subsidiary or the Company, as applicable, would be greater than the Fixed Charge Coverage Ratio for such Restricted
Subsidiary or the Company immediately prior to such transaction. 
 “Permitted Investments” means: 
 (i) any Investment in the Company or in a Restricted Subsidiary of the Company; 
 (ii) any Investment of receivables owing to the Company or any of its Restricted Subsidiaries, if created or acquired in the ordinary course of business
and payable or dischargeable in accordance with customary trade terms (provided, that nothing in this clause (ii) shall prevent the Company or any Restricted Subsidiary from offering such concessionary trade terms as management deems reasonable
in the circumstances); 
 (iii) any Investment in cash, Cash Equivalents or Investment Securities; 
 (iv) any Investment of Capital Stock, Obligations or other securities of any Person received by the Company or any of its Restricted Subsidiaries in
settlement of Obligations created in the ordinary course of business and owing to the Company or such Restricted Subsidiary; 
 (v) any
Investment by the Company or any Restricted Subsidiary of the Company in a Person, if as a result of such Investment: 
 (a) such Person
becomes a Restricted Subsidiary of the Company; or 
 (b) such Person is merged, consolidated or amalgamated with or into, or transfers or
conveys substantially all of its assets to, or is liquidated into, the Company or a Restricted Subsidiary of the Company; 
  

 17 

 (vi) any Investment made as a result of the receipt of non-cash consideration in the sale of assets or
property that does not constitute an Asset Sale or from an Asset Sale that was made pursuant to and in compliance with Section 5.12 hereof; 
 (vii) any acquisition of assets solely in exchange for the issuance of Equity Interests (other than Disqualified Stock) of the Company; 
 (viii) Hedging Obligations, provided, that such Hedging Obligations constitute Permitted Debt permitted by Section 5.09(b)(7) hereof; 
 (ix) Investments in a Person arising from the sale or transfer of assets primarily used in or related to, or Equity Interests of a Subsidiary of the Company whose assets primarily consist of those used in or related to, the Turkey
Operations in connection with a joint venture including such Turkey Operations with a third party; 
 (x) Investments in Intercompany Bonds;

 (xi) Investments made in bonds, debentures and notes issued by any corporation organized under the laws of any State of the United States
having Investment Grade Status from the aggregate proceeds of insurance premiums paid by the Company or a Restricted Subsidiary under a captive insurance arrangement and any earnings on such Investments; 
 (xii) repurchases of the Notes; 
 (xiii)
Loans or advances to officers, directors, consultants and employees made in the ordinary course of the Company’s business or the business of any Restricted Subsidiary in an aggregate principal amount not to exceed $5.0 million at any one time
outstanding; 
 (xiv) any Investments received (x) in compromise of (1) obligations of any Person that were incurred in the
ordinary course of business, including pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency of any such Person or (2) litigation, arbitration or other disputes; or (y) as a result of a foreclosure
by the Company or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; 
 (xv) Guarantees issued in accordance with Section 5.09 and Section 5.17; 
 (xvi) any Investment
(x) existing on the Issue Date or (y) made pursuant to binding commitments in effect on the Issue Date and (z) that replaces, refinances or refunds any Investment described under either of the immediately preceding sub-clauses
(x) or (y); provided that the new Investment is in an amount that does not exceed the amount replaced, refinanced or refunded and is not materially less favorable to the Company or any of its Restricted Subsidiaries than the Investment
replaced, refinanced or refunded as determined in good faith by the Company; 
 (xvii) Investments consisting of purchases and acquisitions
of inventory, supplies, materials and equipment or purchases of contract rights or licenses or leases of intellectual property, in each case in the ordinary course of business; 
  

 18 

 (xviii) loans and advances to contract growers in an aggregate amount at any time not to exceed $50.0
million; and 
 (xix) other Investments made after the Issue Date in any Person having an aggregate fair market value (measured on the date
each such Investment was made and without giving effect to subsequent changes in value), when taken together with all other Investments made pursuant to this clause (xix) that are at the time outstanding, not to exceed the greater of
(A) $100.0 million or (B) 2.5% of Total Assets. 
 “Permitted Liens” means: 
 (i) Liens on the assets of the Company and its Restricted Subsidiaries securing Indebtedness and other Obligations (in addition to those referred to in
clauses (ii) through (xxiv) of this definition) to the extent that such Indebtedness (a) was outstanding on the date of this Indenture or was, or after a Fall-Away Event would have been, permitted to be incurred by Section 5.09
hereof at the time of such incurrence and (b) at the time of such incurrence did not exceed an aggregate principal amount outstanding at any one time of the greater of (x) $1.5 billion less the aggregate amount of all Net Proceeds of Asset
Sales (other than a sale of all or a substantial portion of the assets used in the Turkey Operations), applied by the Company or any of its Subsidiaries to repay Indebtedness incurred pursuant to Section 5.09(b)(1) hereof pursuant to
Section 5.12 hereof and (y) 75% of the fair market value of property, plant, equipment and intangibles of the Company and its consolidated Restricted Subsidiaries; 
 (ii) Liens on the assets of the Company and any Restricted Subsidiary securing Indebtedness and other Obligations to the extent that such Indebtedness is
or, after a Fall-Away Event would have been, permitted to be incurred by Section 5.09(b)(1), (2), (3) and (13)(b) hereof; 
 (iii) Liens on the assets of the Company and any Restricted Subsidiary securing Permitted Refinancing Indebtedness to the extent that (a) such Permitted Refinancing Indebtedness is, or after a Fall-Away Event would have been, permitted
to be incurred by Section 5.09(b)(10) hereof and (b) such Permitted Refinancing Indebtedness was, or after a Fall-Away Event would have been, incurred to refinance Indebtedness outstanding under Section 5.09(b)(1), (2), (3) or
(13)(b) hereof; 
 (iv) Liens in favor of the Company or its Restricted Subsidiaries; 
 (v) Liens on property of a Person existing at the time such Person is acquired by, merged with or into or consolidated with the Company or any Restricted
Subsidiary of the Company; provided, that such Liens were in existence prior to the contemplation of such acquisition, merger or consolidation and do not extend to any assets other than those of the Person acquired by, merged into or consolidated
with the Company or the Restricted Subsidiary; 
 (vi) Liens on property (including Capital Stock) existing at the time of acquisition
thereof by the Company or any Restricted Subsidiary of the Company; provided, that such Liens were in existence prior to the contemplation of such acquisition; 
  

 19 

 (vii) Liens to secure the performance of statutory or regulatory obligations, surety or appeal bonds,
performance bonds, indemnity or performance bonds, warranty and contractual requirements or other obligations of a like nature incurred in the ordinary course of business; 
 (viii) Liens to secure Indebtedness that is, or after a Fall-Away Event would have been, permitted by Section 5.09(b)(5), (6) and
(8) hereof (or Permitted Refinancing Indebtedness relating thereto, provided that the principal amount of the Indebtedness secured does not increase and the Liens do not extend to other property or assets) covering only the assets acquired with
such Indebtedness; 
 (ix) Liens for taxes, assessments or governmental charges or claims that are not yet delinquent or that are being
contested in good faith by appropriate proceedings promptly instituted and diligently concluded; provided, that any reserve or other appropriate provision as shall be required in conformity with GAAP shall have been made therefor; 

(x) Liens on accounts receivable or inventory of a Securitization Subsidiary or rights with respect thereto in connection with a Permitted
Securitization Program; 
 (xi) Liens encumbering customary initial deposits and margin deposits, and other Liens that are within the general
parameters customary in the industry and incurred in the ordinary course of business, in each case, securing Indebtedness under Hedging Obligations designed solely to protect the Company or any of its Restricted Subsidiaries from fluctuations in
interest rates, currencies or the price of commodities; 
 (xii) Liens on the property of Foreign Restricted Subsidiaries and on intercompany
Indebtedness to the Company to secure Indebtedness that is, or after a Fall-Away Event would have been, permitted by Section 5.09(b)(12) hereof; 
 (xiii) upon the occurrence of a Fall-Away Event, Liens securing Indebtedness in an amount that does not exceed 10% of the Company’s Consolidated Net Worth; 
 (xiv) Liens to secure a defeasance trust; 
 (xv) licenses of intellectual property in the ordinary course of business; 
 (xvi) easements, rights of way zoning and similar
restrictions, reservations (including severances, leases or reservations of oil, gas, coal, minerals or water rights), restriction or encumbrances in respect of real property or title defects that were not incurred in connection with Indebtedness
and that do not in the aggregate materially adversely affect the value of said properties (as such properties are used by the Company or its Subsidiaries) or materially impair their use in the operation of the Company’s and its
Subsidiaries’ business; 
 (xvii) Liens arising from precautionary Uniform Commercial Code financing statements filings regarding
operating leases entered into by the Company or any of its Restricted Subsidiaries in the ordinary course of business; 
 (xviii) Leases and
subleases of real property which do not materially interfere with the ordinary conduct of the business of the Company and its Restricted Subsidiaries; 
  

 20 

 (xix) prior to a Fall-Away Event, Liens on Capital Stock of an Unrestricted Subsidiary that secure
Indebtedness or other obligations of such Unrestricted Subsidiary; 
 (xx) judgment Liens not giving rise to an Event of Default so long as
any appropriate legal proceedings that may have been duly initiated for the review of such judgment shall not have been finally terminated or the period within which such legal proceedings may be initiated shall not have expired; 
 (xxi) Liens imposed by law, such as carriers’, warehousemen’s, landlord’s, lessor’s, suppliers, banks, repairmen’s and
mechanics’ Liens, and Liens of landlords securing obligations to pay lease payments that are not yet due and payable or in default, in each case, incurred in the ordinary course of business; 
 (xxii) Liens incurred or deposits made in the ordinary course of business to secure payment of workers’ compensation or to participate in any fund
in connection with workmen’s compensation, unemployment insurance, old-age pensions or other social security programs; 
 (xxiii) after
a Fall-Away Event, Liens on assets or Capital Stock of any Subsidiary that was, immediately prior to such Fall-Away Event, an Unrestricted Subsidiary and that were incurred or created prior to the date of such Fall-Away Event; and 
 (xxiv) Liens incurred in the ordinary course of business of the Company or any Restricted Subsidiary of the Company with respect to Obligations that do
not exceed $40.0 million at any one time outstanding. 
 “Permitted Refinancing Indebtedness” means any
Indebtedness of the Company or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund other Indebtedness of the Company or any of its Restricted
Subsidiaries (other than intercompany Indebtedness); provided, that: 
 (i) the principal amount (or accreted value, if applicable) of such
Permitted Refinancing Indebtedness does not exceed the principal amount (or accreted value, if applicable), of the Indebtedness so extended, refinanced, renewed, replaced, defeased or refunded (plus all accrued interest thereon and the amount of all
customary expenses and premiums incurred in connection therewith); provided, however, that with respect to Indebtedness denominated in currency other than United States dollars, if the principal amount of such Indebtedness is extended, refinanced,
renewed, replaced, defeased or refunded with Indebtedness denominated in the same foreign currency and not exceeding the principal amount (or accreted value, if applicable) thereof in such denomination of foreign currency, then it shall not be
deemed to have exceeded the principal amount (or accreted value, if applicable) of the refinanced Indebtedness solely as a result of fluctuations in the exchange rate of such foreign currency; 
 (ii) such Permitted Refinancing Indebtedness has a final maturity date later than the final maturity date of, and has a Weighted Average Life to Maturity
equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded; 
  

 21 

 (iii) if the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded is
Subordinated Indebtedness, such Permitted Refinancing Indebtedness has a final maturity date later than the final maturity date of, and is subordinated in right of payment to, the Notes on terms at least as favorable to the Holders of Notes as those
contained in the documentation governing the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded; and 
 (iv)
such Indebtedness is incurred either by the Company or a Guarantor or by the Restricted Subsidiary who is the obligor on the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded. 
 “Permitted Securitization Program” means a transaction or series of transactions (including amendments, supplements, extensions,
renewals, replacements, refinancings or modifications thereof) pursuant to which a Securitization Subsidiary purchases accounts receivable or inventory from the Company or any Restricted Subsidiary and finances or sells such accounts receivable or
inventory or fractional interests therein; provided, that (i) the Board of Directors shall have determined in good faith that such Permitted Securitization Program is economically fair and reasonable to the Company and the Securitization
Subsidiary, (ii) all sales of accounts receivable or inventory by the Securitization Subsidiary are made at fair market value (as determined in good faith by the Board of Directors), (iii) the financing terms, covenants, termination events
and other provisions thereof shall be market terms (as determined in good faith by the Board of Directors), (iv) no portion of the Indebtedness of a Securitization Subsidiary shall be Guaranteed Indebtedness or is recourse to the Company or any
Restricted Subsidiary (other than to such Securitization Subsidiary and other than recourse for customary representations, warranties, covenants and indemnities) and (v) neither the Company nor any Subsidiary (other than the Securitization
Subsidiary) has any obligation to maintain or preserve the Securitization Subsidiary’s financial condition. 
 “Pilgrim
Family” means Lonnie A. “Bo” Pilgrim, his spouse, his issue, his estate and any trust, partnership or other entity primarily for the benefit of him, his spouse and/or issue, including any direct or indirect trustee, managing
partner or such other Person serving a similar function. 
 “Preferred Stock” means, with respect to any Person, any
and all shares, interests, participations or other equivalents (however designated, whether voting or non-voting) of such Person’s preferred or preference stock, whether now outstanding or hereafter issued, including, without limitation, all
series and classes of such preferred or preference stock. 
 “Rating Agency” means each of S&P and Moody’s,
or if S&P or Moody’s or both shall not make a rating on the Notes publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Company (as certified by a resolution of the
Company’s Board of Directors) which shall be substituted for S&P or Moody’s, or both, as the case may be. 
 “Ratings Decline” means: (x) a decrease of one or more gradations (including gradations within rating categories as well as between rating categories) in the rating of the Notes by either Rating Agency; or
(y) a withdrawal of the rating of the Notes by either Rating Agency, provided, 

  

 22 

 
however, that such decrease or withdrawal occurs on, or within 60 days following, the date of public notice of the occurrence of a Change of Control or of
the intention by the Company to effect a Change of Control, which period shall be extended so long as the rating of the Notes is under publicly announced consideration for downgrade by either Rating Agency. 
 “Regular Record Date” for the interest payable on any Interest Payment Date means the date specified on the face of the Note.

 “Restricted Investment” means an Investment other than a Permitted Investment. 
 “Restricted Subsidiary” of a Person means any Subsidiary of the referent Person that is not an Unrestricted Subsidiary;
provided, that after a Fall-Away Event, a Restricted Subsidiary shall mean any Subsidiary of the referent Person. 
 “S&P” means Standard & Poor’s Ratings Group, a division of McGraw Hill, or any successor to the rating agency business thereof. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated
thereunder. 
 “Securitization Subsidiary” means a Restricted Subsidiary or an Unrestricted Subsidiary of the Company
that is established for the limited purpose of acquiring and financing or selling (including, without limitation, interests therein) accounts receivable or inventory and engaging in activities ancillary thereto. 
 “Significant Subsidiary” means any Subsidiary that would be a “significant subsidiary” as defined in Article 1, Rule
1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is in effect on the date hereof. 
 “Stated
Maturity” means, with respect to any installment of interest or principal on any series of Indebtedness, the date on which such payment of interest or principal was scheduled to be paid in the original documentation governing such
Indebtedness, and shall not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 
 “Subordinated Indebtedness” means any Indebtedness of the Company or a Restricted Subsidiary if the instrument creating or
evidencing such Indebtedness or pursuant to which such Indebtedness is outstanding expressly provides that such Indebtedness is subordinated or junior in right of payment to the Notes or the Subsidiary Guarantee of such Restricted Subsidiary, as the
case may be. 
 “Subordinated Notes” means the 8 3/8% Senior Subordinated Notes due 2017 of the Company issued under the Subordinated Notes Indenture. 
 “Subordinated Notes Indenture” means the Indenture dated as of the Issue Date, by and between the Company and Wells Fargo Bank,
National Association, as trustee, as supplemented by the First Supplemental Indenture dated as of the Issue Date, governing the Senior Subordinated Notes, as further amended or supplemented from time to time. 
 “Subordinated Subsidiary Guarantee” means a Subsidiary’s Guarantee of the Subordinated Notes. 
  

 23 

 “Subsidiary Guarantee” means a Guarantor’s guarantee of the Notes pursuant
to Article 10 and in the form of the Subsidiary Guarantee attached as Exhibit B and any additional Subsidiary Guarantee of the Notes to be executed by any Subsidiary of the Company pursuant to Section 5.17. 
 “TIA” means the Trust Indenture Act of 1939, as amended. 
 “Total Assets” means, with respect to any Person, the total consolidated assets of such Person and its Restricted Subsidiaries,
as determined in accordance with GAAP, and shown on the most recent balance sheet of such Person in financial statements either (i) filed with the SEC or (ii) if such Person does not file reports with the SEC, internally available.

 “Turkey Operations” means the Company’s and/or its Restricted Subsidiaries’ turkey operations as
substantially constituted on the Issue Date. 
 “Unrestricted Subsidiary” means any Subsidiary of the Company that is
designated by the Board of Directors as an Unrestricted Subsidiary pursuant to a Board Resolution, but only to the extent that such Subsidiary: 
 (i) has no Indebtedness other than Non-Recourse Indebtedness; 
 (ii) is not party to any agreement, contract, arrangement or
understanding with the Company or any Restricted Subsidiary of the Company unless the terms of any such agreement, contract, arrangement or understanding are no less favorable to the Company or such Restricted Subsidiary than those that might be
obtained at the time from Persons who are not Affiliates of the Company; 
 (iii) is a Person with respect to which neither the Company nor
any of its Restricted Subsidiaries has any direct or indirect obligation (a) to subscribe for additional Equity Interests or (b) to maintain or preserve such Person’s financial condition or to cause such Person to achieve any
specified levels of operating results; and 
 (iv) has not Guaranteed or otherwise directly or indirectly provided credit support for any
Indebtedness of the Company or any of its Restricted Subsidiaries. 
 Any designation of a Subsidiary of the Company as an Unrestricted
Subsidiary shall be evidenced to the Trustee by filing with the Trustee a certified copy of the Board Resolution giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the preceding
conditions and was permitted by Section 5.11 hereof. If, at any time, any Unrestricted Subsidiary would fail to meet the preceding requirements as an Unrestricted Subsidiary, it shall thereafter cease to be an Unrestricted Subsidiary for
purposes of this Indenture and any Indebtedness of such Subsidiary shall be deemed to be incurred by a Restricted Subsidiary of the Company as of such date and, if such Indebtedness is not permitted to be incurred as of such date under
Section 5.09 hereof, the Company shall be in Default of such covenant. The Board of Directors of the Company may at any time designate any Unrestricted 

  

 24 

 
Subsidiary to be a Restricted Subsidiary; provided, that such designation shall be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of
the Company of any outstanding Indebtedness of such Unrestricted Subsidiary and such designation shall only be permitted if (i) such Indebtedness is permitted under Section 5.09 hereof, calculated on a pro forma basis as if such
designation had occurred at the beginning of the eight-quarter reference period, and (ii) no Default or Event of Default would be in existence following such designation. 
 After a Fall-Away Event, an Unrestricted Subsidiary shall mean any Subsidiary of the Company. 
 “Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the
election of the Board of Directors of such Person. 
 “Weighted Average Life to Maturity” means, when applied to any
Indebtedness at any date, the number of years obtained by dividing: 
 (i) the sum of the products obtained by multiplying (a) the
amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect thereof, by (b) the number of years (calculated to the nearest one-twelfth) that
will elapse between such date and the making of such payment; by 
 (ii) the then outstanding principal amount of such Indebtedness.

 “Wholly-Owned Restricted Subsidiary” of any specified Person means a Restricted Subsidiary of such Person all of
the outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying shares and shares issued to other Persons to comply with local law that collectively do not constitute more than 5% of all of the Capital
Stock ordinarily having the power to vote for the election of directors of such Restricted Subsidiary) shall at the time be owned by such Person or by one or more Wholly-Owned Restricted Subsidiaries of such Person and one or more Wholly-Owned
Restricted Subsidiaries of such Person. 
 SECTION 2.02. Other Definitions. 
  

			
	 Term
	  	Defined in Section
	 Affiliate Transaction
	  	5.14
	 Asset Sale Offer
	  	4.08
	 Authentication Order
	  	3.02
	 Benefited Party
	  	10.01
	 Change of Control Offer
	  	5.16
	 Change of Control Payment
	  	5.16
	 Change of Control Payment Date
	  	5.16
	 Company
	  	Preamble
	 Covenant Defeasance
	  	8.03
	 DTC
	  	3.03
	 Event of Default
	  	7.01
	 Excess Proceeds
	  	5.12
	 Fall-Away Event
	  	5.18

  

 25 

			
	 Term
	  	Defined in Section
	 Guaranteed Indebtedness
	  	5.17
	 incur
	  	5.09
	 Legal Defeasance
	  	8.02
	 Notes
	  	Preamble
	 Offer Amount
	  	4.08
	 Offer Period
	  	4.08
	 Paying Agent
	  	3.03
	 Payment Default
	  	7.01
	 Permitted Debt
	  	5.09
	 Purchase Date
	  	4.08
	 Registrar
	  	3.03
	 Restricted Payment
	  	5.11
	 Trustee
	  	Preamble

 ARTICLE 3 
 THE NOTES 
 Pursuant to Section 201 of the Base Indenture, the provisions of this Article 3 establish
the form of the Notes under this Supplemental Indenture, and to the extent that any provisions of this Article 3 are duplicative, or in contradiction with, the Base Indenture, the provisions of this Article 3 shall govern the Notes. 
 SECTION 3.01. Form and Dating. 
 (a)
General. The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A hereto, which is hereby incorporated in and expressly made part of this Indenture. The Notes may have notations,
legends or endorsements required by law, stock exchange rule or usage in addition to those set forth on Exhibit A. Each Note shall be dated the date of its authentication. The Notes shall be in denominations of $2,000 and integral multiples
thereof. The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this Indenture and the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and
provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 
 (b) Book-Entry Provisions. This Section 3.01(b) shall only apply to Global Notes deposited with the Trustee, as custodian for
the Depositary. Participants and Indirect Participants shall have no rights under this Indenture with respect to any Global Note held on their behalf by the Depositary or by the Trustee as the custodian for the Depositary or under such Global Note,
and the Depositary shall be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the
Company, the Trustee or any agent of the Company or the Trustee from 

  

 26 

 
giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its
Participants or Indirect Participants, the Applicable Procedures or the operation of customary practices of the Depositary governing the exercise of the rights of a holder of a beneficial interest in any Global Note. 
 (c) Certificated Notes. Except as otherwise provided herein, owners of beneficial interests in Global Notes will not be entitled to
receive physical delivery of certificated Notes. 
 For greater certainty, the provisions of this Section 3.01(c) are subject to the
requirements relating to notations, legends or endorsements on Notes required by law, stock exchange rule, or agreements to which any the Company is subject, if any. 
 SECTION 3.02. Execution and Authentication. 
 (a) One Officer shall sign the Notes for
the Company by manual or facsimile signature. 
 (b) If an Officer whose signature is on a Note no longer holds that office at
the time a Note is authenticated, the Note shall nevertheless be valid. 
 (c) A Note shall not be valid until authenticated
by the manual signature of the Trustee. The signature shall be conclusive evidence that the Note has been authenticated under this Indenture. 
 (d) The Trustee shall, upon a written order of the Company signed by an Officer (an “Authentication Order”), authenticate Notes for original issue. 
 (e) The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. Unless otherwise provided in the
appointment, an authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an
Agent to deal with Holders or an Affiliate of the Company or any of their respective Subsidiaries. 
 SECTION 3.03. Registrar and Paying Agent.

 (a) The Company shall maintain an office or agency where Notes may be presented for registration of transfer or for
exchange (“Registrar”) and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar shall keep a register of the Notes and of their transfer and exchange. The
Company may appoint one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes any additional paying agent. The Company may change any
Paying Agent or Registrar without notice to any Holder. The Company shall notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Company fails to appoint or maintain another entity as Registrar or
Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 
  

 27 

 (b) The Company initially appoints The Depository Trust Company
(“DTC”) to act as Depositary with respect to the Global Notes. 
 (c) The Company initially appoints
the Trustee to act as the Registrar and Paying Agent and to act as Custodian with respect to the Global Notes, and the Trustee hereby initially agrees so to act. 
 SECTION 3.04. Paying Agent to Hold Money in Trust. 
 The Company shall require each Paying Agent other than the Trustee to
agree in writing that the Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the Paying Agent for the payment of principal, premium, if any, or interest on the Notes, and shall notify the Trustee of any
default by the Company in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to
the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for the money. If the Company or a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate
trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee shall serve as Paying Agent for the Notes. 
 SECTION 3.05. Holder Lists. 
 The Trustee shall
preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of all Holders and shall otherwise comply with TIA Section 312(a). If the Trustee is not the Registrar, the Company shall
furnish to the Trustee at least seven Business Days before each Interest Payment Date and at such other times as the Trustee may request in writing, a list in such form and as of such date or such shorter time as the Trustee may allow, as the
Trustee may reasonably require of the names and addresses of the Holders, and the Company shall otherwise comply with TIA Section 312(a). 
 SECTION
3.06. Transfer and Exchange. 
 (a) Transfer and Exchange of Definitive Notes. When Definitive Notes are
presented to the Registrar or a co-registrar with a request: 
 (1) to register the transfer of such Definitive Notes; or

 (2) to exchange such Definitive Notes for an equal principal amount of Definitive Notes of other authorized denominations,

 the Registrar or co-registrar shall register the transfer or make the exchange as requested if its reasonable requirements for such transaction are met;
provided, however, that the Definitive Notes surrendered for transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Registrar or
co-registrar, duly executed by the Noteholder thereof or his attorney duly authorized in writing; 
  

 28 

 (b) Restrictions on Transfer of a Definitive Note for a Beneficial Interest in a
Global Note. A Definitive Note may not be exchanged for a beneficial interest in a Global Note except upon satisfaction of the requirements set forth below. Upon receipt by the Trustee of a Definitive Note, duly endorsed or accompanied by
appropriate instruments of transfer, in form satisfactory to the Trustee, together with written instructions directing the Trustee to make, or to direct the Custodian to make, an adjustment on its books and records with respect to such Global Note
to reflect an increase in the aggregate principal amount of the Notes represented by the Global Note, then the Trustee shall cancel such Definitive Note and cause, or direct the Custodian to cause, in accordance with the standing instructions and
procedures existing between the Depositary and the Custodian, the aggregate principal amount of Notes represented by the Global Note to be increased accordingly. If no Global Notes are then outstanding, the Company shall issue and the Trustee shall
authenticate, upon written order of the Company in the form of an Officers’ Certificate from the Company, a new Global Note in the appropriate principal amount. 
 (c) Transfer and Exchange of Global Notes. The transfer and exchange of Global Notes or beneficial interests therein shall be
effected through the Depositary, in accordance with this Indenture (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depositary therefor. 
 (d) Restrictions on Transfer and Exchange of Global Notes. Notwithstanding any other provisions of this Indenture (other than the
provisions set forth in subsection (e) of this Section 3.06), a Global Note may not be transferred as a whole except by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of
the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 
 (e) Authentication of Definitive Notes in Absence of Depositary. If at any time: 
 (1) the Depositary for the
Notes notifies the Company that the Depositary is unwilling or unable to continue as Depositary for the Global Notes and a successor Depositary for the Global Notes is not appointed by the Company within 90 days after delivery of such notice; or

 (2) the Company, in its sole discretion, notifies the Trustee in writing that the Company elects to cause the issuance of
Definitive Notes under this Indenture, 
 then the Company will execute, and the Trustee, upon receipt of an Officers’ Certificate requesting the
authentication and delivery of Definitive Notes to the Persons designated by the Company, will authenticate and deliver Definitive Notes, in an aggregate principal amount equal to the principal amount of Global Notes, in exchange for such Global
Notes. 
 (f) Cancellation and/or Adjustment of Global Note. At such time as all beneficial interests in a Global Note
have either been exchanged for Definitive Notes, redeemed, repurchased or canceled, such Global Note shall be returned to the Depositary for cancellation or retained and canceled by the Trustee. At any time prior to such 

  

 29 

 
cancellation, if any beneficial interest in a Global Note is exchanged for Definitive Notes, redeemed, repurchased or canceled, the principal amount of Notes
represented by such Global Note shall be reduced and an adjustment shall be made on the books and records of the Trustee (if it is then the Custodian for such Global Note) with respect to such Global Note, by the Trustee or the Custodian, to reflect
such reduction. 
 (g) Obligations with Respect to Transfers and Exchanges of Notes. 
 (1) To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate Definitive Notes and
Global Notes at the Registrar’s or co-registrar’s request. 
 (2) No service charge shall be made for any
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith. 
 (3) The Registrar or co-registrar shall not be required to register the transfer of or exchange of (a) any Note selected for
redemption in whole or in part pursuant to Article 4, except the unredeemed portion of any Note being redeemed in part, or (b) any Note for a period beginning 15 Business Days before the mailing of a notice of an offer to repurchase or redeem
Notes or 15 Business Days before an Interest Payment Date (whether or not an Interest Payment Date or other date determined for the payment of interest), and ending on such mailing date or Interest Payment Date, as the case may be. 
 (4) Prior to the due presentation for registration of transfer of any Note, the Company, the Trustee, the Paying Agent, the Registrar or
any co-registrar may deem and treat the person in whose name a Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Note and for all other purposes whatsoever, whether or not
such Note is overdue, and none of the Company, the Trustee, the Paying Agent, the Registrar or any co-registrar shall be affected by notice to the contrary. 
 (5) All Notes issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be
entitled to the same benefits under this Indenture as the Notes surrendered upon such transfer or exchange. 
 (h) No
Obligation of the Trustee. 
 (1) The Trustee shall have no responsibility or obligation to any beneficial owner of a
Global Note, a member of, or a participant in the Depositary or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any participant or member thereof, with respect to any ownership interest in the Notes or
with respect to the delivery to any participant, member, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption) or the payment of any amount, under or with respect to such Notes. All notices
and communications to be given to the Noteholders and all payments to be made to Noteholders under the Notes shall be given or made only to or upon the order of the 

  

 30 

 
registered Noteholders (which shall be the Depositary or its nominee in the case of a Global Note). The rights of beneficial owners in any Global Note in
global form shall be exercised only through the Depositary subject to the applicable rules and procedures of the Depositary. The Trustee may rely and shall be fully protected in relying upon information furnished by the Depositary with respect to
its members, participants and any beneficial owners. 
 (2) The Trustee shall have no 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 without limitation any transfers between or among Depositary
participants, members or beneficial owners 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. 
 SECTION 3.07. Replacement
Notes. 
 If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives evidence to its satisfaction of the
destruction, loss or theft of any Note, the Company shall issue and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement Note if the Trustee’s requirements are met. If required by the Trustee or the Company, an
indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is
replaced. The Company may charge for its expenses in replacing a Note. 
 In case any such mutilated, destroyed, lost or stolen Note had
become or is about to become due and payable, the Company, in its discretion, may, instead of issuing a new Note, pay such Note, upon satisfaction of the conditions set forth in the preceding paragraph. 
 Every replacement Note is an additional obligation of the Company and shall be entitled to all of the benefits of this Indenture equally and
proportionately with all other Notes duly issued hereunder. 
 The provisions of this Section 3.07 are exclusive and shall preclude (to
the extent lawful) all other rights and remedies of any Holder with respect to the replacement or payment of mutilated, destroyed, lost or stolen Note. 
 SECTION 3.08. Outstanding Notes. 
 (a) The Notes outstanding at any time are all the Notes authenticated by
the Trustee except for those cancelled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section 3.08
as not outstanding. Except as set forth in Section 3.09 hereof, a Note does not cease to be outstanding because the Company or an Affiliate of the Company holds the Note; however, Notes held by the Company or a Subsidiary of the Company shall
not be deemed to be outstanding for purposes of Section 3.07(b) hereof. 
  

 31 

 (b) If a Note is replaced pursuant to Section 3.07 hereof, it ceases to be
outstanding unless the Trustee receives proof satisfactory to it that the replaced note is held by a bona fide purchaser. 
 (c) If the principal amount of any Note is considered paid under Section 5.01 hereof, it ceases to be outstanding and interest on it ceases to accrue. 
 (d) If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof) segregates and holds in trust, in accordance
with this Indenture, on a redemption date or maturity date, money sufficient to pay all principal, premium, if any, and interest payable on that date with respect to the Notes payable on that date, then on and after that date such Notes shall be
deemed to be no longer outstanding and shall cease to accrue interest. 
 SECTION 3.09. Treasury Notes. 
 In determining whether the Holders of the required principal amount of Notes have concurred in any direction, amendment, supplement, waiver or consent,
Notes owned by the Company, or by any Affiliate of the Company, shall be considered as though not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, amendment,
supplement, waiver or consent, only Notes that the Trustee knows are so owned shall be so disregarded. 
 SECTION 3.10. Temporary Notes. 

Until certificates representing Notes are ready for delivery, the Company may prepare and the Trustee, upon receipt of an Authentication Order, shall
authenticate temporary Notes. Temporary Notes shall be substantially in the form of certificated Notes but may have variations that the Company considers appropriate for temporary Notes and as shall be reasonably acceptable to the Trustee. Without
unreasonable delay, the Company shall prepare and the Trustee shall authenticate Definitive Notes in exchange for temporary Notes. 
 Holders
of temporary Notes shall be entitled to all of the benefits of this Indenture. 
 SECTION 3.11. Cancellation. 
 The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any Notes
surrendered to them for registration of transfer, exchange or payment. The Trustee, or at the direction of the Trustee, the Registrar or the Paying Agent, upon direction by the Company and no one else shall cancel all Notes surrendered for
registration of transfer, exchange, payment, replacement or cancellation and shall dispose of such cancelled Notes in accordance with its customary procedures (subject to the record retention requirements of the Exchange Act). Certification of the
destruction of all cancelled Notes shall be delivered to the Company from time to time upon written request. The Company may not issue new Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation.

  

 32 

 SECTION 3.12. CUSIP or ISIN Numbers. 
 The Company in issuing the Notes may use “CUSIP” or “ISIN” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” or “ISIN” numbers in notices of
redemption as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption and that
reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any change in the
“CUSIP” or “ISIN” numbers. 
 SECTION 3.13. Additional Notes. 
 The Company shall be entitled, subject to its compliance with Section 5.09 hereof, to issue Additional Notes under this Indenture in an unlimited
aggregate principal amount which shall have identical terms as the Initial Notes, other than with respect to the date of issuance and issue price and first payment of interest. The Initial Notes and any Additional Notes shall be treated as a single
class for all purposes under this Indenture, including without limitation, waivers, amendments, redemptions and offers to purchase. 
 With
respect to any Additional Notes, the Company shall set forth in a resolution of its Board of Directors and an Officers’ Certificate, a copy of each which shall be delivered to the Trustee, the following information: 
 (a) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture; and 
 (b) the issue price, the issue date and the CUSIP number(s) of such Additional Notes; provided, however, that no Additional Notes may be issued at a
price that would cause such Additional Notes to have “original issue discount” within the meaning of Section 1273 of the Internal Revenue Code of 1986, as amended. 
 ARTICLE 4 
 REDEMPTION AND PREPAYMENT 
 The provisions of this Article 4 apply to the Notes and shall preempt Sections 1101, 1102, 1103, 1104, 1105, 1106 and 1107 of the Base Indenture in its
entirety, and to the extent that any provisions of this Article 4 are duplicative, or in contradiction with, the Base Indenture, the provisions of this Article 4 shall govern the Notes. 
  

 33 

 SECTION 4.01. Notices to Trustee. 
 If the Company elects to redeem Notes pursuant to the optional redemption provisions of Section 4.07 hereof and paragraph 5 of the Notes, it shall furnish to the Trustee an Officers’ Certificate setting
forth (i) the Section of this Indenture pursuant to which the redemption shall occur, (ii) the redemption date, (iii) the principal amount of Notes to be redeemed, and (iv) the redemption price. If the Company elects to redeem
Notes pursuant to the provisions of Section 4.07 hereof and paragraph 5 of the Notes, it shall furnish such Officers’ Certificate to the Trustee at least 30 days but not more than 60 days before a redemption date unless a shorter notice
shall be reasonably satisfactory to the Trustee. Each Officers’ Certificate shall be accompanied by an Opinion of Counsel from the Company to the effect that such redemption will comply with the conditions herein. Any such notice may be
cancelled at any time prior to notice of such redemption being mailed to any Holder and shall, therefore, be void and of no effect. 
 SECTION 4.02.
Selection of Notes to be Redeemed. 
 If less than all of the Notes are to be redeemed at any time, the Trustee shall select the Notes
to be redeemed, (i) if the Notes are listed, in compliance with the requirements of the principal national securities exchange on which the Notes are listed, or (ii) if the Notes are not so listed, on a pro rata basis, by lot or by such
method as the Trustee shall deem fair and appropriate. In the event of partial redemption, the particular Notes to be redeemed shall be selected, unless otherwise provided herein, not less than 30 nor more than 60 days prior to the redemption date
by the Trustee from the outstanding Notes not previously called for redemption. 
 The Trustee shall promptly notify the Company in writing
of the Notes selected for redemption and, in the case of any Note selected for partial redemption, the principal amount thereof to be redeemed. Notes and portions of Notes selected shall be in amounts of $2,000 or whole multiples of $2,000; except
that if all of the Notes of a Holder are to be redeemed, the entire outstanding amount of Notes held by such Holder, even if not a multiple of $2,000, shall be redeemed. Except as provided in the preceding sentence, provisions of this Indenture that
apply to Notes called for redemption also apply to portions of Notes called for redemption. 
 SECTION 4.03. Notice of Redemption. 
 At least 30 days but not more than 60 days before a redemption date, the Company shall mail or cause to be mailed, by first class mail, a notice of
redemption to each Holder whose Notes are to be redeemed at its registered address. 
 The notice shall identify the Notes to be redeemed
(including the CUSIP or ISIN number) and shall state: 
 (a) the redemption date; 
 (b) the redemption price; 
 (c) if any Note
is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the redemption date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion shall be issued upon
cancellation of the original Note; 
  

 34 

 (d) the name and address of the Paying Agent; 
 (e) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price; 
 (f) that, unless the Company defaults in making such redemption payment, interest on Notes called for redemption ceases to accrue on and after the
redemption date; 
 (g) the paragraph of the Notes and Section of this Indenture pursuant to which the Notes called for redemption are being
redeemed; and 
 (h) that no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or
printed on the Notes. 
 At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at its
expense. Any redemption and notice thereof may, in the Company’s discretion, be subject to the satisfaction of one or more conditions precedent. 
 SECTION 4.04. Effect of Notice Upon Redemption. 
 Once notice of redemption is mailed in accordance with Section 4.03
hereof, Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price stated in the notice. Upon surrender to the Paying Agent, such Notes shall be paid at the redemption price stated in the notice,
plus accrued interest to the redemption date (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on the related Interest Payment Date). Failure to give notice or any defect in the notice to any
Holder shall not affect the validity of the notice to any other Holder. 
 SECTION 4.05. Deposit of Redemption Price. 
 On or before 11:00 a.m. Eastern Time on any redemption date, the Company shall deposit with the Trustee or with the Paying Agent money sufficient to pay
the redemption price of and accrued interest on all Notes (or portions of Notes) to be redeemed on that date. The Trustee or the Paying Agent shall promptly return to the Company any money deposited with the Trustee or the Paying Agent by the
Company in excess of the amounts necessary to pay the redemption price of, and accrued interest on, all Notes to be redeemed. 
 If the
Company complies with the provisions of the preceding paragraph, on and after the redemption date, interest shall cease to accrue on the Notes or the portions of Notes called for redemption, whether or not such Notes are presented for payment. If a
Note is redeemed on or after a Regular Record Date but on or prior to the related Interest Payment Date, then any accrued and unpaid interest shall be paid to the Person in whose name such Note was registered at the close of business on such Regular
Record Date. If any Note called for redemption shall not be so paid upon surrender for redemption because of the failure of the Company to comply with 

  

 35 

 
the preceding paragraph, interest shall be paid on the unpaid principal from the redemption date until such principal is paid, and to the extent lawful on
any interest not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 5.01 hereof. 
 SECTION 4.06. Notes
Redeemed in Part. 
 Upon surrender of a Note that is redeemed in part, the Company shall issue and, upon the Company’s written
request, the Trustee shall authenticate for the Holder at the expense of the Company a new Note equal in principal amount to the unredeemed portion of the Note surrendered. 
 SECTION 4.07. Optional Redemption. 
 (a) Except as set forth in subparagraph (b) of this
Section 4.07, the Company shall not have the option to redeem the Notes prior to May 1, 2011. On or after May 1, 2011, the Company may redeem all or a part of the Notes, at the redemption prices (expressed as percentages of principal
amount) set forth below plus accrued and unpaid interest, if any, thereon to the applicable redemption date, if redeemed during the twelve-month period beginning on May 1 of the years indicated below: 
  

				
	 Year
	  	Percentage	 
	 2011
	  	103.813	%
	 2012
	  	101.906	%
	 2013 and thereafter
	  	100.000	%

 (b) Notwithstanding the provisions of subparagraph (a) of this Section 4.07, at any
time prior to May 1, 2010, the Company may on any one or more occasions redeem up to 35% of the aggregate principal amount of Notes issued under this Indenture (which includes the Additional Notes, if any) at a redemption price of 107.625% of
the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the redemption date, with the net cash proceeds of one or more Equity Offerings; provided, that: 
 (1) at least 65% of the aggregate principal amount of Notes issued under this Indenture (which includes the Additional Notes, if any)
remains outstanding immediately after the occurrence of such redemption (excluding Notes held by the Company and its Subsidiaries); and 
 (2) the redemption must occur within 90 days of the date of the closing of any such Equity Offering. 
 Notice of any redemption upon an Equity Offering may be given prior to the completion of the related Equity Offering, and any such redemption or notice may, at the Company’s discretion, be subject to one or more conditions precedent,
including, but not limited to completion of the related Equity Offering. 
 (c) Any prepayment pursuant to this Section 4.07 shall be
made pursuant to the provisions of Sections 4.01 through 4.06 hereof. 
  

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 SECTION 4.08. Offer to Purchase by Application of Excess Proceeds. 
 (a) In the event that, pursuant to Section 5.12 hereof, the Company shall be required to commence an offer to all Holders to purchase
Notes and, at the Company’s option, holders of other pari passu Indebtedness (an “Asset Sale Offer”), it shall follow the procedures specified below. 
 (b) The Asset Sale Offer for the Notes shall remain open for a period of 20 Business Days following its commencement and no longer, except
to the extent that a longer period is required by applicable law (the “Offer Period”). No later than five Business Days after the termination of the Offer Period (the “Purchase Date”), the Company
shall purchase the principal amount of Notes required to be purchased pursuant to Section 5.12 hereof (the “Offer Amount”) or, if less than the Offer Amount has been tendered, all Notes tendered in response to the Asset
Sale Offer. Payment for any Notes so purchased shall be made in the same manner as interest payments are made. 
 If the Purchase Date is on
or after a Regular Record Date and on or before the related Interest Payment Date, any accrued and unpaid interest shall be paid to the Person in whose name a Note is registered at the close of business on such Regular Record Date, and no additional
interest shall be payable to Holders who tender Notes pursuant to the Asset Sale Offer. 
 Upon the commencement of the Asset Sale Offer, the
Company shall send, by first class mail, a notice to each of the Holders, which shall not be later than 10 days after the Company becomes obligated to make an Asset Sale Offer for the Notes with a copy to the Trustee. The notice shall contain all
instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Sale Offer. The Asset Sale Offer shall be made to all Holders. The notice, which shall govern the terms of the Asset Sale Offer, shall state:

 (1) that the Asset Sale Offer is being made pursuant to this Section 4.08 and Section 5.12 hereof and the length
of time the Asset Sale Offer shall remain open; 
 (2) the Offer Amount (including information as to any other pari
passu Indebtedness included in the Asset Sale Offer), the purchase price and the Purchase Date; 
 (3) that any Note not
tendered or accepted for payment shall continue to accrete or accrue interest; 
 (4) that, unless the Company defaults in
making such payment, any Note accepted for payment pursuant to the Asset Sale Offer shall cease to accrue interest after the Purchase Date; 
 (5) that Holders electing to have a Note purchased pursuant to an Asset Sale Offer may only elect to have all of such Note purchased and may not elect to have only a portion of such Note purchased; 
 (6) that Holders electing to have a Note purchased pursuant to any Asset Sale Offer shall be required to surrender the Note, with the form
entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, or transfer by book-entry transfer, to the Company, a Depositary, if appointed by the Company, or a Paying Agent at the address specified in the notice at
least three days before the Purchase Date; 
  

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 (7) that Holders shall be entitled to withdraw their election if the Company, the
Depositary or the Paying Agent, as the case may be, receives, not later than the expiration of the Offer Period, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note the Holder
delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased; 
 (8) that,
if the aggregate principal amount of Notes tendered by Holders into an Asset Sale Offer exceeds the Offer Amount, the Trustee shall select the Notes to be purchased (1) if the Notes are listed, in compliance with the requirements of the
principal national securities exchange on which the Notes are then listed or (2) if the Notes are not so listed, on a pro rata basis, by lot or by such method as the Trustee shall deem fair and appropriate (with such adjustments as may be
deemed appropriate by the Company so that only Notes in denominations of $2,000, or integral multiples thereof, shall be purchased); and 
 (9) that Holders whose Notes were purchased only in part shall be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer). 
 Not later than the date upon which written notice of an Asset Sale Offer is delivered to the Trustee as provided above, the Company shall deliver to the
Trustee an Officers’ Certificate as to the allocation of the Net Proceeds from the Asset Sale pursuant to which such Asset Sale Offer is being made and the compliance of such allocation with the provisions of Section 5.12. On such date,
the Company shall deposit with the Trustee or with the Paying Agent an amount equal to the Offer Amount to be held for payment in accordance with the provisions of this Section. 
 On or before the Purchase Date, the Company shall, to the extent lawful, accept for payment, in accordance with clause (8) above, the Offer Amount
of Notes or portions thereof tendered pursuant to the Asset Sale Offer, or if less than the Offer Amount has been tendered, all Notes tendered, and shall deliver to the Trustee an Officers’ Certificate stating that such Notes or portions
thereof were accepted for payment by the Company in accordance with the terms of this Section 4.08. The Company, the Depositary or the Paying Agent, as the case may be, shall promptly (but in any case not later than five days after the Purchase
Date) mail or deliver to each tendering Holder an amount equal to the purchase price of the Notes tendered by such Holder and accepted by the Company for purchase, and the Company shall promptly issue a new Note, and the Trustee, upon written
request from the Company shall authenticate and mail or deliver such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall be promptly mailed or delivered by the
Company to the Holder thereof. The Company shall publicly announce the results of the Asset Sale Offer on the Purchase Date. 
  

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 Other than as specifically provided in this Section 4.08, any purchase pursuant to this
Section 4.08 shall be made pursuant to the provisions of Section 4.01 through 4.06 hereof. 
 ARTICLE 5 
 COVENANTS 
 The following covenants shall
apply to the Notes and shall preempt Article Ten of the Base Indenture in its entirety, and to the extent that any provisions of this Article 5 are duplicative, or in contradiction with, the Base Indenture, the provisions of this Article 5 shall
govern the Notes. 
 SECTION 5.01. Payment of Notes. 
 The Company shall pay or cause to be paid the principal of, premium, if any, interest on, the Notes on the dates and in the manner provided in the Notes and in this Indenture. Principal, premium, if any, and interest
shall be considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 11:00 a.m. Eastern Time on the due date money deposited by the Company in immediately available funds and designated for and
sufficient to pay all principal, premium, if any, and interest then due and the Paying Agent is not prohibited from paying such money to the Holders on that date. Interest shall be computed on the basis of a 360-day year of twelve 30-day months.

 SECTION 5.02. Maintenance of Office or Agency. 
 (a) The Company shall maintain an office or agency (which may be an office or drop facility of the Trustee or an affiliate of the Trustee, Registrar or co-registrar) where Notes may be presented or surrendered for
registration of transfer or for exchange and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company shall 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 of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 (b) The Company may also from time to time designate 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. The Company shall 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.

 (c) The Company hereby designates the Corporate Trust Office of the Trustee, as one such office, drop facility or agency of
the Company in accordance with Section 3.03. 
  

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 SECTION 5.03. Reports. 
 (a) To the extent not required to be filed with the Commission, so long as any Notes are outstanding, the Company will furnish to the
Holders, if not filed electronically with the Commission or otherwise publicly available, within the time periods specified in the Commission’s rules and regulations: 
 (1) all quarterly and annual financial information that would be required to be contained in a filing with the Commission on Forms 10-Q
and 10-K if the Company were required to file such Forms, including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to the annual information only, a report on the annual
financial statements by the Company’s certified independent accountants; and 
 (2) all current reports that would be
required to be filed with the Commission on Form 8-K if the Company were required to file such reports. 
 (b) For so long as
any Notes remain outstanding and the Company does not have or shall cease to have a class of equity securities registered under Section 12(g) of the Exchange Act or is not or shall cease to be subject to Section 15(d) of the Exchange Act,
the Company shall furnish to the Holders and to prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. The Company shall also comply with the other provisions of TIA
Section 314(a). 
 (c) Delivery of such reports, information and documents to the Trustee is for informational purposes
only and the Trustee’s receipt of such shall not constitute 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 Officers’ Certificates). 
 SECTION 5.04. Compliance Certificate. 
 (a) The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers’ Certificate stating
that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and
fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained
in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of
which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of
the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto. The Company shall also comply with TIA
Section 314(a)(4). 
  

 40 

 (b) The Company shall, so long as any of the Notes are outstanding, deliver to the
Trustee, forthwith and in any event within five Business Days upon any Officer becoming aware of any Default or Event of Default or an event which, with notice or the lapse of time or both, would constitute an Event of Default, an Officers’
Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 
 SECTION 5.05.
Taxes. 
 The Company shall pay or discharge, and shall cause each of its Restricted Subsidiaries to pay or discharge, prior to
delinquency, all material taxes, assessments, and governmental levies; provided that neither the Company nor any such Restricted Subsidiary shall be required to pay or discharge, or cause to be paid or discharged, any such tax, assessment, charge or
claim the amount, applicability or validity of which is being contested in good faith by appropriate proceedings and for which adequate reserves have been established in accordance with GAAP or where the failure to effect such payment is not adverse
in any material respect to the Holders. 
 SECTION 5.06. Stay, Extension and Usury Laws. 
 The Company covenants (to the extent that it may lawfully do so) that it shall 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 shall not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the
execution of every such power as though no such law has been enacted. 
 SECTION 5.07. Corporate Existence. 
 Subject to Article 6 hereof, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate
existence. 
 SECTION 5.08. Payments for Consent. 
 The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise, to or for the benefit of any Holder for or as
an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Notes unless such consideration is offered to be paid and is paid to all Holders that consent, waive or agree to amend in the time frame set
forth in the solicitation documents relating to such consent, waiver or agreement. 
  

 41 

 SECTION 5.09. Incurrence of Indebtedness and Issuance of Preferred Stock. 
 (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume,
Guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt), and the Company will not issue any Disqualified Stock and will not
permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that the Company may incur Indebtedness (including Acquired Debt) or issue Disqualified Stock, and the Domestic Restricted
Subsidiaries and any other Guarantors may incur Indebtedness or issue Preferred Stock, if the Fixed Charge Coverage Ratio for the Company’s most recently ended eight full fiscal quarters for which internal financial statements are available
immediately preceding the date on which such additional Indebtedness is incurred or such Preferred Stock or Disqualified Stock is issued would have been at least 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the
net proceeds therefrom), as if the additional Indebtedness had been incurred or the Preferred Stock or Disqualified Stock had been issued, as the case may be, at the beginning of such eight-quarter period. 
 (b) Notwithstanding the foregoing, clause (a) of this Section 5.09 will not prohibit the incurrence or issuance of any of the
following items of Indebtedness or Preferred Stock (collectively, “Permitted Debt”): 
 (1) the
incurrence by the Company or any Guarantor of Indebtedness (and any replacements, renewals, refinancings, extensions or amendments thereof) in an aggregate principal amount at any one time outstanding as of the date of any such incurrence under this
clause (1) not to exceed an amount equal to the greater of (x) $1.5 billion, less the aggregate amount of all Net Proceeds of Asset Sales (other than a sale of all or a substantial portion of the assets used in or related to the Turkey
Operations) applied by the Company or any of its Subsidiaries to repay Indebtedness incurred under this clause (1) pursuant to Section 5.12 and (y) 75% of the fair market value of property, plant, equipment and intangibles of the
Company and its consolidated Restricted Subsidiaries; 
 (2) the incurrence by the Company or any Restricted Subsidiary of
Indebtedness pursuant to a revolving credit facility under the Existing U.S. Credit Facilities (and any replacements, renewals, refinancings, extensions or amendments of any thereof) in an aggregate principal amount at any one time outstanding as of
the date of any such incurrence under this clause (2) not to exceed the Domestic Borrowing Base; 
 (3) the incurrence of
Indebtedness by the Foreign Restricted Subsidiaries pursuant to the Existing Foreign Credit Facility (and any replacements, renewals, refinancings, extensions or amendments thereof) in an aggregate principal amount outstanding at any one time as of
the date of any such incurrence under this clause (3) not to exceed the greater of (x) $100.0 million and (y) the Foreign Borrowing Base; 
 (4) the incurrence by the Company and the Guarantors (including any future Guarantor) of Indebtedness represented by the Notes and the Subordinated Notes (including, in each case, any Subsidiary Guarantees and
Subordinated Subsidiary Guarantees); 
  

 42 

 (5) the incurrence by the Company or any of its Restricted Subsidiaries of purchase money
obligations incurred in the ordinary course of business in an amount outstanding at any one time (including any Permitted Refinancing Indebtedness of such purchase money obligations incurred pursuant to clause (10) below) as of the date of any
such incurrence not to exceed 75% of the purchase price or fair market value of the asset purchased, acquired or constructed; 
 (6) the incurrence by the Company or any of its Restricted Subsidiaries of Capital Lease Obligations incurred in the ordinary course of business in an amount outstanding at any one time (including any Permitted Refinancing Indebtedness of
such Capital Lease Obligations incurred pursuant to clause (10) below) as of the date of any such incurrence not to exceed 5% of the Company’s Consolidated Net Worth; 
 (7) the incurrence by the Company or any of its Restricted Subsidiaries of Hedging Obligations pursuant to which the Company or the
Restricted Subsidiary has hedged against its actual exposure to fluctuations in interest rates, currency values or commodity prices; 
 (8) the incurrence by the Company or any Restricted Subsidiary of up to $25.0 million aggregate principal amount of Indebtedness to the Camp County Industrial Development Corporation pursuant to that certain Loan Agreement (the
“Camp County Loan Agreement”), dated as of June 15, 1999, between the Company and the Camp County Industrial Development Corporation, including the incurrence by the Company or any Restricted Subsidiary to Harris N.A.
pursuant to the Reimbursement Agreement dated June 15, 1999 between the Company and Harris N.A., or under any irrevocable letter of credit, surety bond, insurance policy or other similar instrument issued by any Person to support the
Company’s or any Restricted Subsidiary’s Obligations pursuant to the Camp County Loan Agreement or in connection with the related bonds issued by the Camp County Industrial Development Corporation (and reimbursement and similar agreements
in respect thereof) and any Permitted Refinancing Indebtedness relating thereto; provided, that such $25.0 million and any corresponding credit enhancement or reimbursement obligation with respect thereto shall be reduced by any prepayments or
scheduled payments under the Camp County Loan Agreement; 
 (9) the incurrence by the Company or any of its Restricted
Subsidiaries of additional Indebtedness in an aggregate principal amount (or accreted value, as applicable) at any time outstanding (including any Permitted Refinancing Indebtedness incurred pursuant to clause (10) below) under this clause
(9) not to exceed, immediately after giving effect to any such incurrence, the greater of (x) $175.0 million and (y) 5.0% of Total Assets; 
 (10) the incurrence by the Company or any of its Restricted Subsidiaries of Permitted Refinancing Indebtedness in exchange for, or the net proceeds of which are used to renew, refund, refinance, replace, defease or
discharge Indebtedness (other than 

  

 43 

 
intercompany Indebtedness) under the Subordinated Notes, the Subordinated Indenture, the Existing Senior Notes, the Existing Senior Notes Indenture, the
Existing Subordinated Notes or the Existing Subordinated Notes Indenture or that was permitted by this Indenture to be incurred under paragraph (a) of this Section 5.09 or clauses (4), (5), (6), (9), (13) or (20) of this
paragraph (b); 
 (11) the incurrence by the Company or any of its Restricted Subsidiaries of intercompany Indebtedness and
Intercompany Bonds between or among the Company and any of its Restricted Subsidiaries; provided, however, that: 
 (A) except in the case of Intercompany Bonds, if the Company or any Guarantor is the obligor on such Indebtedness, such Indebtedness must be expressly subordinated to the prior payment in full in cash of all Obligations with respect to the
Note, in the case of the Company, or the Subsidiary Guarantee, in the case of a Guarantor; and 
 (B) (i) any subsequent
issuance or transfer of Equity Interests that results in any such Indebtedness being held by a Person other than the Company or a Restricted Subsidiary thereof and (ii) any sale or other transfer of any such Indebtedness to a Person that is not
either the Company or a Restricted Subsidiary thereof shall be deemed, in each case, to constitute an incurrence of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that was not permitted by this clause (11);

 (12) the Existing Senior Guarantee, the Existing Subordinated Guarantee and the Guarantee by the Company or any of its
Restricted Subsidiaries of Indebtedness of the Company or a Restricted Subsidiary that was permitted to be incurred by another provision of this covenant and, in the case of a Domestic Restricted Subsidiary, the provisions of Section 5.17;

 (13) Indebtedness of the Company to the extent the net proceeds thereof are promptly (a) used to purchase the Notes
tendered in a Change of Control Offer made as a result of a Change of Control Triggering Event in accordance with this Indenture, or (b) deposited to defease the Notes in accordance with Section 8.04 hereof; 
 (14) the accrual of interest, the accretion or amortization of original issue discount, the payment of interest on any Indebtedness in the
form of additional Indebtedness with the same terms, and the payment of dividends on Disqualified Stock in the form of additional shares of the same class of Disqualified Stock will not be deemed to be an incurrence of Indebtedness or an issuance of
Disqualified Stock for purposes of this covenant; provided, in each such case, that the amount thereof is included in Fixed Charges of the Company as accrued; 
 (15) the issuance of Preferred Stock to the Company or a Wholly-Owned Restricted Subsidiary; 
  

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 (16) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness
in respect of workers’ compensation claims, payment obligations in connection with health or other types of social security benefits, unemployment or other insurance or self-insurance obligations, reclamation, statutory obligations,
bankers’ acceptances, performance, surety or similar bonds and letters of credit or completion or performance guarantees or equipment leases, or other similar obligations in the ordinary course of business and consistent with past practice;

 (17) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness arising from the honoring by a
bank or other financial institution of a check, draft or similar instrument inadvertently drawn against insufficient funds; 
 (18) Indebtedness constituted of obligations in respect of purchase price adjustments, Guarantees or indemnities in connection with the acquisition or disposition of any business, assets or a Subsidiary in accordance with the terms of this
Indenture; 
 (19) accounts payable or other obligations of the Company or any of its Restricted Subsidiaries to trade
creditors created or assumed by the Company or such Restricted Subsidiary in the ordinary course of business in connection with the obtaining of goods and services; and 
 (20) Permitted Acquisition Indebtedness. 
 For purposes of determining compliance with this Section 5.09, in the event that an item of proposed Indebtedness, including Acquired Debt, Disqualified Stock or Preferred Stock, meets the criteria of more than
one of the categories of Permitted Debt described in clauses (1) through (20) above, or is entitled to be incurred pursuant to paragraph (a) of this Section 5.09, the Company will be permitted to divide and classify such item of
Indebtedness on the date of its incurrence, or re-divide and reclassify all or a portion of such item of Indebtedness, in any manner that complies with this covenant; provided, that (x) Indebtedness outstanding under the Existing U.S. Credit
Facilities on the date of this Indenture will be deemed to have been incurred on such date in reliance on the exception provided in clauses (1) and (2), as applicable, of paragraph (b) of this Section 5.09 and (y) Indebtedness
outstanding under Existing Foreign Credit Facility on the date of this Indenture will be deemed to have been incurred on such date in reliance on the exception provided in clause (3) of paragraph (b) of this Section 5.09. 

(c) The accrual of interest, the accretion or amortization of original issue discount, the payment of interest on any Indebtedness in
the form of additional Indebtedness with the same terms, and the payment of dividends on Disqualified Stock in the form of additional shares of the same class of Disqualified Stock will not be deemed to be an incurrence of Indebtedness or an
issuance of Disqualified Stock for purposes of this Section 5.09; provided, in each such case, that the amount thereof is included in Fixed Charges of the Company as accrued. 
 (d) With respect to Indebtedness denominated in a currency other than United States dollars, the Company or any of its Restricted
Subsidiaries shall not have been deemed to incur Indebtedness solely as a result of fluctuations in the exchange rates of currencies. 
  

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 SECTION 5.10. Liens. 
 The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, incur or suffer to exist any Lien (other than Permitted Liens) upon any of its assets (including Capital Stock of a
Restricted Subsidiary), whether owned at the date the Notes are first issued or thereafter acquired, or any interest therein or any income or profits therefrom, unless the Notes or the Subsidiary Guarantees are secured on an equal and ratable basis
with such Indebtedness for so long as such Indebtedness is secured by such Lien; provided, however, if such Lien secures Subordinated Indebtedness, the Lien securing such subordinated Indebtedness will be subordinated and junior to a
Lien securing the Notes or the Subsidiary Guarantees, as the case may be. 
 SECTION 5.11. Restricted Payments. 
 (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly: 
 (1) declare or pay any dividend or make any other payment or distribution on account of the Company’s or any of its Restricted
Subsidiaries’ Equity Interests (including, without limitation, any payment in connection with any merger or consolidation involving the Company or any of its Restricted Subsidiaries) or to the direct or indirect holders of the Company’s or
any of its Restricted Subsidiaries’ Equity Interests in their capacity as such (other than dividends or distributions payable (x) in Equity Interests (other than Disqualified Stock) of the Company or (y) to the Company or a Restricted
Subsidiary of the Company); 
 (2) purchase, redeem or otherwise acquire or retire for value (including, without limitation,
in connection with any merger or consolidation involving the Company) any Equity Interests of the Company or any direct or indirect parent of the Company or any Restricted Subsidiary of the Company (other than any such Equity Interests owned by the
Company or any Restricted Subsidiary of the Company); 
 (3) make any payment on or with respect to, or purchase, redeem,
defease or otherwise acquire or retire for value any Subordinated Indebtedness (excluding (i) any intercompany Indebtedness between or among the Company and any Restricted Subsidiary of the Company or (ii) the purchase, redemption or other
acquisition of Subordinated Indebtedness purchased in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of purchase, repurchase or acquisition) except at the
Stated Maturity thereof; or 
 (4) make any Restricted Investment (all such payments and other actions set forth in this
clause (4) and clauses (1) through (3) above being collectively referred to as “Restricted Payments”). 
  

 46 

 (b) Notwithstanding paragraph (a) of this Section 5.11, the Company shall be
permitted to engage in, and to cause or allow any of its Restricted Subsidiaries to engage in, a Restricted Payment, so long as, at the time of and after giving effect to such Restricted Payment: 
 (1) no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof; and 
 (2) the Company would, at the time of such Restricted Payment and after giving pro forma effect thereto as if such Restricted Payment had
been made at the beginning of the applicable eight-quarter period, have been permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 5.09(a) hereof; and 
 (3) such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Company and its Subsidiaries
after August 9, 2001 (excluding Restricted Payments permitted by clauses (2), (3), (4), (9) and (10) of paragraph (c) of this Section 5.11) is less than the sum, without duplication, of 
 (A) 50% of the Consolidated Net Income of the Company for the period (taken as one accounting period) from July 1, 2001 to the end of
the Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, if such Consolidated Net Income for such period is a deficit, less 100% of such deficit),
plus 
 (B) 100% of the aggregate net proceeds, including cash and fair market value of property other than cash,
received by the Company since August 9, 2001 as a contribution to its common equity capital or from the issue or sale of Equity Interests of the Company (other than Disqualified Stock) or from the issue or sale of convertible or exchangeable
Disqualified Stock or convertible or exchangeable debt securities of the Company that have been converted into or exchanged for such Equity Interests (other than Equity Interests (or Disqualified Stock or debt securities) sold to a Restricted
Subsidiary of the Company), plus 
 (C) to the extent that any Restricted Investment that was made after the Issue Date
is sold for cash or otherwise liquidated or repaid for cash, 100% of the aggregate amount received in cash and the fair market value of property other than cash received, plus 
 (D) if any Unrestricted Subsidiary is redesignated as a Restricted Subsidiary, the fair market value of such redesignated Subsidiary (as
determined in good faith by the Board of Directors) as of the date of its redesignation (other than to the extent that the Investment originally made in such Unrestricted Subsidiary was a Permitted Investment). 
  

 47 

 (c) Notwithstanding paragraphs (a) and (b) of this Section 5.11, the
Company shall be permitted to effect, and to cause or allow any of its Restricted Subsidiaries to effect: 
 (1) the payment
of any dividend or distribution or the consummation of any redemption of any Subordinated Indebtedness within 60 days after the date of declaration of the dividend or distribution or giving of the redemption notice, as the case may be, if at said
date of declaration or notice such dividend, distribution or redemption payment would have complied with the provisions of this Indenture; 
 (2) the redemption, repurchase, retirement, defeasance or other acquisition of any Subordinated Indebtedness of the Company or any Restricted Subsidiary or of any Equity Interests of the Company in exchange for, or
out of the net cash proceeds of the substantially concurrent sale (other than to a Subsidiary of the Company) of, Equity Interests of the Company (other than Disqualified Stock) or Subordinated Indebtedness of the Company that has a Weighted Average
Life to Maturity no less than that of the Subordinated Indebtedness being refinanced; provided, that the amount of any such net cash proceeds that are utilized for any such redemption, repurchase, retirement, defeasance or other acquisition shall be
excluded from clause (b)(3)(B) of this Section 5.11; 
 (3) the defeasance, redemption, repurchase or other acquisition
of Subordinated Indebtedness of the Company or any Restricted Subsidiary with the net cash proceeds from an incurrence of Permitted Refinancing Indebtedness; provided, that the amount of any such net cash proceeds that are utilized for any such
defeasance, redemption, repurchase or other acquisition shall be excluded from clause (b)(3)(B) of this Section 5.11; 
 (4) Investments made out of the net proceeds of a substantially concurrent issue and sale (other than to a Subsidiary of the Company) of Equity Interests (other than Disqualified Stock) of the Company; provided, that the amount of any such
net proceeds that are utilized for any such Investment shall be excluded from clause (b)(3)(B) of this Section 5.11; 
 (5) the payment of any dividend or distribution by a Restricted Subsidiary of the Company to the holders of its common Equity Interests on a pro rata basis so long as the Company or one of its Restricted Subsidiaries receives at least a pro
rata share (and in like form) of the dividend or distribution in accordance with its common Equity Interests; 
 (6) the
payment by the Company of cash dividends on its common stock in an aggregate amount up to $30.0 million per year; 
 (7) the
repurchase, redemption or other acquisition or retirement for value of any Equity Interests of the Company or any Restricted Subsidiary of the Company held by any member of the management or the Board of Directors of the Company or any Restricted
Subsidiary pursuant to any equity subscription agreement, stock option agreement or similar agreement approved by the Board of Directors of the Company; 

  

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provided, that the aggregate price paid for all such repurchased, redeemed, acquired or retired Equity Interests shall not exceed $10.0 million in any
twelve-month period (with any unused amount in any 12-month period being permitted to be carried over into succeeding 12-month periods); provided, further, that the amounts in any 12-month period may be increased by an amount not to exceed the
cash proceeds received by the Company or any of its Restricted Subsidiaries from the sale of the Company’s Equity Interests (other than Disqualified Stock) to any member of the management or the Board of Directors of the Company or any
Restricted Subsidiary (provided that the amount of such cash proceeds utilized for any such repurchase, retirement or other acquisition or retirement will not increase the amount available for Restricted Payments under clause (b)(3)(B) of this
Section 5.11 and to the extent such proceeds have not otherwise been applied to the payment of Restricted Payments); and provided further that no Default or Event of Default shall have occurred and be continuing immediately after such
transaction; 
 (8) the payment of obligations arising in connection with a Change of Control, provided that the Company has
first satisfied its obligations pursuant to Section 5.16 with respect to a Change of Control Triggering Event; 
 (9) the
repayment, refinancing, replacement, repurchase or redemption of subordinated capital certificates or other Subordinated Indebtedness originally issued by Gold Kist Inc. or any successor company; and 
 (10) other Restricted Payments in an aggregate amount not to exceed $100.0 million, 
 provided, however, that, with respect to clauses (2) through (10) above, no Default or Event of Default shall have occurred and is
continuing at the time of such Restricted Payment or would be caused thereby. 
 (d) The amount of all Restricted Payments
(other than cash and Cash Equivalents) shall be the fair market value on the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued to or by the Company or such Subsidiary, as the case may be, pursuant to
the Restricted Payment. The fair market value of any assets or securities that are required to be valued by this covenant shall be determined by the Board of Directors and set forth in a resolution. The Board of Directors’ determination (other
than in the case of Investment Securities) must be based upon an opinion or appraisal issued by an Independent Financial Advisor if the fair market value exceeds $100.0 million. Not later than the date of making any Restricted Payment with a fair
market value in excess of $100.0 million, the Company shall deliver to the Trustee an Officers’ Certificate stating that such Restricted Payment is permitted and setting forth the basis upon which the calculations required by this
Section 5.11 were computed, together with a description and amounts of all Restricted Payments made by the Company pursuant to this Section 5.11 since the date of the most recently delivered Officers’ Certificate pursuant to this
paragraph (or, if none, since August 9, 2001), together with a copy of any fairness opinion or appraisal required by this Indenture. For purposes of determining compliance with this covenant, in the event that a Restricted Payment meets the
criteria of 

  

 49 

 
more than one of the types of Restricted Payments described in this Section 5.11, the Company, in its sole discretion, may order and classify such
Restricted Payment in any manner in compliance with this Section 5.11 
 (e) Any dividend which is declared but not paid
shall not be included in the calculation of the amount of Restricted Payments for purposes of clause (b) of this Section 5.11, and any dividend which is declared and paid shall be included only once in the calculation of the amount of
Restricted Payments for purposes of clause (b) of this Section 5.11. 
 SECTION 5.12. Asset Sales. 
 (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, consummate an Asset Sale unless: 
 (1) the Company (or the Restricted Subsidiary, as the case may be) receives consideration (including by way of relief from, or by any
Person assuming responsibility for, any liabilities, contingent or otherwise) at the time of such Asset Sale at least equal to the fair market value of the assets or Equity Interests issued or sold or otherwise disposed of; 
 (2) such fair market value is determined by the Company’s Board of Directors and evidenced by a resolution of the Board of Directors
and, if such fair market value exceeds $50.0 million, is set forth in an Officers’ Certificate delivered to the Trustee; and 
 (3) at least 75% of the consideration received by the Company or such Restricted Subsidiary is in the form of cash, Cash Equivalents or assets or Voting Stock of a type referred to in clauses (2), (3) or (4) of paragraph
(b) of this Section 5.12. For purposes of this Section 5.12, each of the following shall be deemed to be cash: 
 (A) any liabilities (as shown on the Company’s or such Restricted Subsidiary’s most recent balance sheet) of the Company or any Restricted Subsidiary (other than contingent liabilities and liabilities that are by their terms
subordinated to the Notes or any Subsidiary Guarantee) that are assumed by the transferee of any such assets pursuant to a customary novation agreement that releases the Company or such Restricted Subsidiary from further liability; and 

(B) any securities, notes or other obligations received by the Company or any such Restricted Subsidiary from such transferee that are
converted by the Company or such Restricted Subsidiary into cash or Cash Equivalents (to the extent of the cash or Cash Equivalents received in that conversion) within 180 days of the related Asset Sale. 
 (b) Within 360 days after the receipt of any Net Proceeds from an Asset Sale, the Company (or the applicable Restricted Subsidiary, as the case may be)
may, at its option: 
 (1) apply such Net Proceeds to permanently repay, purchase or retire unsubordinated Indebtedness of the
Company or any Restricted Subsidiary; 
  

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 (2) apply such Net Proceeds to acquire all or substantially all of the assets of, or a
majority of the Voting Stock of, another business reasonably related to the business of the Company; 
 (3) apply such Net
Proceeds to make a capital expenditure used or useful in the Company’s business; 
 (4) apply such Net Proceeds to
acquire other long-term assets that are used or useful in the Company’s business; or 
 (5) enter into a binding
agreement with respect to the application of such Net Proceeds described in clauses (2), (3) or (4) of this paragraph (b); provided that such binding agreement shall be treated as a permitted application of the Net Proceeds from the date
of such commitment until the earliest of (x) the date on which such acquisition or expenditure is consummated, and (y) the 180th day following the expiration of the aforementioned 360-day period. 
 Pending the final application of any such Net Proceeds, the Company or any Restricted Subsidiary may temporarily reduce revolving credit borrowings or otherwise invest
such Net Proceeds in any manner that is not prohibited by this Indenture. 
 (c) Any Net Proceeds from Asset Sales that are
not applied or invested as provided in paragraph (b) of this Section 5.12 will constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $40.0 million, then within 45 Business Days after the
later of the application of Net Proceeds in accordance with paragraph (b) of this Section 5.12 and the date that is 360 days following the receipt of the Net Proceeds, to the extent of the balance of Net Proceeds after application in
accordance with paragraph (b) of this Section 5.12, the Company will make an Asset Sale Offer to all Holders of Notes and, to the extent required or permitted under the terms of the instrument governing such Indebtedness, all holders of
other Indebtedness that is pari passu with the Notes containing provisions similar to those set forth in this Indenture with respect to offers to purchase or redeem with the proceeds of sales of assets, to purchase the maximum principal
amount of Notes and, to the extent required or permitted under the terms of the instrument governing such Indebtedness, such other pari passu Indebtedness that may be purchased out of the Excess Proceeds. The offer price in any Asset Sale
Offer will be equal to 100% of principal amount plus accrued and unpaid interest, if any, to, but not including, the date of purchase, and will be payable in cash. If any Excess Proceeds remain after consummation of an Asset Sale Offer, the Company
may use such Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If the aggregate principal amount of Notes and, to the extent required or permitted under the terms of the instrument governing such Indebtedness, such other
pari passu Indebtedness tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and any such other pari passu Indebtedness to be purchased on a pro rata basis based on the principal
amount of Notes and any such other pari passu Indebtedness tendered. Upon completion of each Asset Sale Offer, the amount of Excess Proceeds shall be reset at zero. 
  

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 (d) The Company will make the Asset Sale Offer in accordance with the procedures set
forth in Section 4.08 hereof and will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with each
repurchase of Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the Asset Sale provisions of this Indenture, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under Section 4.08 hereof and this Section 5.12 by virtue of such conflict. 
 SECTION 5.13. Dividend And Other Payment Restrictions Affecting Restricted Subsidiaries. 
 (a) The Company
will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create or permit to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary to: 
 (1) pay dividends or make any other distributions on its Capital Stock to the Company or any of its Restricted Subsidiaries, or with
respect to any other interest or participation in, or measured by, its profits, or pay any indebtedness owed to the Company or any of its Restricted Subsidiaries; provided that the priority of any Preferred Stock in receiving dividends or
liquidating distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock; 
 (2) make loans or advances to the Company or any of its Restricted Subsidiaries; or 
 (3) sell, lease or transfer any of its properties or assets to the Company or any of its Restricted Subsidiaries. 
 (b) The provisions of paragraph (a) of this Section 5.13 will not apply to encumbrances or restrictions existing under or by
reason of: 
 (1) agreements governing Indebtedness outstanding on the Issue Date, the Credit Facilities as in effect on the
Issue Date and any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings thereof, provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings,
replacements or refinancings are not materially more restrictive, taken as a whole, with respect to such dividend and other payment restrictions than those contained in such agreements, as in effect on the Issue Date; 
 (2) the Subordinated Notes, the Subordinated Indenture, the Subordinated Subsidiary Guarantees, the Existing Senior Notes, the Existing
Senior Notes Indenture, the Existing Senior Guarantee, the Existing Subordinated Notes, the Existing 

  

 52 

 
Subordinated Notes Indenture, the Existing Subordinated Guarantee and the Notes (and Additional Notes, if any) that are issued under this Indenture and the
Subsidiary Guarantees; 
 (3) applicable law, rule, regulation, order, approval, license, permit or similar restriction;

 (4) any instrument governing Indebtedness or Capital Stock of a Person acquired by the Company or any of its Restricted
Subsidiaries as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred in connection with or in contemplation of such acquisition), which encumbrance or restriction is not applicable to any Person, or the
properties or assets of any Person, other than the Person, or the property or assets of the Person, so acquired, provided, that, in the case of Indebtedness, such Indebtedness was permitted by the terms of this Indenture to be incurred; 

(5) customary non-assignment provisions in contracts, licenses and leases entered into in the ordinary course of business and
consistent with past practices; 
 (6) purchase money obligations for property (including Capital Stock) acquired in the
ordinary course of business and Capital Lease Obligations that impose restrictions on the property so acquired of the nature described in clause (a)(3) of this Section 5.13; 
 (7) any agreement for the sale or other disposition of assets or Capital Stock of a Restricted Subsidiary that restricts distributions by
that Subsidiary pending its sale or other disposition; 
 (8) Permitted Refinancing Indebtedness, provided, that the
restrictions contained in the agreements governing such Permitted Refinancing Indebtedness are not materially more restrictive, taken as a whole, with respect to such dividend and other payment restrictions than those contained in the agreements
governing the Indebtedness being refinanced; 
 (9) Liens permitted to be incurred under Section 5.10 that limit the
right of the debtor to dispose of the assets subject to such Lien; 
 (10) provisions with respect to the disposition or
distribution of assets or property in joint venture agreements, assets sale agreements, sale and leaseback agreements, stock sale agreements and other similar agreements entered into in the ordinary course of business; 
 (11) restrictions on cash, Cash Equivalents or other deposits or net worth imposed by customers or lessors under contracts or leases
entered into in the ordinary course of business; 
  

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 (12) customary restrictions imposed on any Securitization Subsidiary in connection with a
Permitted Securitization Program, including, without limitation, those imposed on Pilgrim’s Pride Funding Corporation on the Issue Date; and 
 (13) encumbrances on property that exist at the time the property was acquired by the Company or a Restricted Subsidiary; 
 (14) Hedging Obligations incurred from time to time; and 
 (15) contractual encumbrances or
restrictions in effect on the Issue Date, and any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of those agreements; provided that the amendments, modifications, restatements,
renewals, increases, supplements, refundings, replacements or refinancings are not materially more restrictive, taken as a whole, with respect to such dividend and other payment restrictions than those contained in those agreements in effect on the
Issue Date. 
 SECTION 5.14. Affiliate Transactions. 
 (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property
or assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or Guarantee with, or for the benefit of, any Affiliate (each, an “Affiliate Transaction”), involving aggregate
consideration in excess of $5.0 million, unless: 
 (1) such Affiliate Transaction is on terms that are no less favorable to
the Company or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person or is approved by a majority of the disinterested members of
the Board of Directors; and 
 (2)(A) with respect to any Affiliate Transaction or series of related Affiliate Transactions
involving aggregate consideration in excess of $20.0 million, such determination shall be set forth in a resolution adopted by the Board of Directors stating that such Affiliate Transaction complies with this covenant and that such Affiliate
Transaction has been approved by a majority of the disinterested members of the Board of Directors; and 
 (B) with respect to
any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of $50.0 million, the Board of Directors has received an opinion as to the fairness to the Holders of such Affiliate Transaction from a
financial point of view issued by an Independent Financial Advisor. 
 (b) The following items shall not be deemed to be
Affiliate Transactions and, therefore, will not be subject to the provisions of paragraph (a) of this Section 5.14: 
 (1) any transaction entered into by the Company or any of its Restricted Subsidiaries in the ordinary course of business and consistent with past practices; 
  

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 (2) any transaction entered into by the Company and any of its Restricted Subsidiaries or
between any of the Restricted Subsidiaries; 
 (3) transactions with a Person that is an Affiliate of the Company solely
because the Company owns an Equity Interest in such Person; 
 (4) payment of reasonable directors fees to Persons who are not
otherwise Affiliates of the Company and reasonable indemnification arrangements; 
 (5) Restricted Payments that are permitted
by the provisions of Section 5.11 hereof; 
 (6) loans or advances to officers, directors, employees or consultants in
the ordinary course of business and consistent with past practice not to exceed $5.0 million in the aggregate at any one time outstanding; 
 (7) transactions with Unrestricted Subsidiaries, customers, clients, suppliers, joint venture partners or purchasers or sellers of goods or services, or lessors or lessees of property, in each case in the ordinary
course of business and otherwise in compliance with the terms of this Indenture which are, in the aggregate, (taking into account all the costs and benefits associated with such transactions), materially no less favorable to the Company or its
Restricted Subsidiaries than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person, in the good faith determination of the Company’s Board of Directors, or are on
terms at least as favorable as might reasonably have been obtained at such time from a party that is not an Affiliate of the Company; 
 (8) if such Affiliate Transaction is with a Person in its capacity as a holder of Indebtedness or Capital Stock of the Company or any Restricted Subsidiary where such Person is treated no more favorably than the
holders of Indebtedness or Capital Stock of the Company or any Restricted Subsidiary; and 
 (9) transactions effected
pursuant to agreements in effect on the Issue Date and any amendment, modification or replacement of such agreement (so long as such amendment or replacement is not in the good faith determination of the Company’s Board of Directors materially
more disadvantageous to the Holders, taken as a whole, than the original agreement as in effect on the Issue Date). 
 SECTION 5.15. Designation of
Restricted and Unrestricted Subsidiaries. 
 The Board of Directors may designate any Restricted Subsidiary to be an Unrestricted
Subsidiary if that designation would not cause a Default. If a Restricted Subsidiary is designated an Unrestricted Subsidiary, all outstanding Investments owned by the Company and its Restricted Subsidiaries in the Subsidiary so designated will be
deemed to be an Investment made as of the time of such designation and either will reduce the amount available for Restricted 

  

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Payments under Section 5.11(a) hereof or will at the time of such designation qualify as a Permitted Investment, as the Company shall determine. All
such outstanding Investments will be valued at their fair market value at the time of such designation. That designation will only be permitted if such Investment would be permitted at that time and if such Restricted Subsidiary otherwise meets the
definition of an Unrestricted Subsidiary. The Board of Directors may redesignate any Unrestricted Subsidiary to be a Restricted Subsidiary if the redesignation would not cause a Default and such redesignation will increase the amount available for
Restricted Payments under Section 5.11(a) hereof as provided therein or Permitted Investments, as applicable. 
 SECTION 5.16. Offer To Repurchase
Upon Change Of Control Triggering Event. 
 (a) Upon the occurrence of a Change of Control Triggering Event, the Company
shall make an offer (a “Change of Control Offer”) to each Holder of Notes to repurchase all or any part (equal to $2,000 or an integral multiple thereof) of such Holder’s Notes at an offer price in cash equal to 101% of
the aggregate principal amount of Notes repurchased plus accrued and unpaid interest thereon to the date of purchase (the “Change of Control Payment”). Within ninety (90) days following any Change of Control Triggering
Event, unless the Company has mailed a redemption notice with respect to all of the outstanding Notes in accordance with Section 4.07, the Company shall mail a notice to each Holder stating: (i) that the Change of Control Offer is being
made pursuant to this Section 5.16 and that all Notes tendered will be accepted for payment; (ii) the purchase price and the purchase date, which shall be no earlier than 30 days and no later than 60 days from the date such notice is
mailed (the “Change of Control Payment Date”); (iii) that any Note not tendered will continue to accrue interest; (iv) that, unless the Company defaults in the payment of the Change of Control Payment, all Notes
accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change of Control Payment Date; (v) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required
to surrender the Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Notes completed, to the Paying Agent at the address specified in the notice prior to the close of business on the third Business Day
preceding the Change of Control Payment Date; (vi) that Holders will be entitled to withdraw their election if the Paying Agent receives, not later than the close of business on the second Business Day preceding the Change of Control Payment
Date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of Notes delivered for purchase, and a statement that such Holder is withdrawing his election to have the Notes purchased; and
(vii) that Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an
integral multiple thereof. 
 (b) On the Change of Control Payment Date, the Company will, to the extent lawful,
(i) accept for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer, (ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions thereof
so tendered and (iii) deliver or cause to be delivered to the Trustee the Notes so accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions thereof 

  

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being purchased by the Company. The Paying Agent will promptly mail to each Holder of Notes so tendered the Change of Control Payment for such Notes, and the
Trustee will promptly authenticate (upon a written order of the Company) and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided,
that each such new Note will be in a principal amount of $2,000 or an integral multiple thereof. The Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date.

 (c) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws
and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any applicable securities laws or
regulations conflict with provisions of this Section 5.16, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 5.16 by virtue thereof.

 (d) Notwithstanding the foregoing provisions of this Section 5.16, the Company will not be required to make a Change
of Control Offer upon a Change of Control Triggering Event if (i) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 5.16 and purchases
all Notes validly tendered and not withdrawn pursuant to such Change of Control Offer in accordance with the terms hereof; or (ii) notice of redemption has been given pursuant to Section 4.07, unless and until there is a default in payment
of the applicable redemption price. 
 (e) A Change of Control Offer may be made in advance of a Change of Control Triggering
Event, and conditioned upon the occurrence of such Change of Control Triggering Event, if a definitive agreement is in place for the Change of Control at the time of making the Change of Control Offer. Notes repurchased by the Company pursuant to a
Change of Control Offer will have the status of Notes issued but not outstanding or will be retired and canceled, at the option of the Company. Notes purchased by an unaffiliated third party pursuant to the preceding paragraph will have the status
of Notes issued and outstanding. 
 (f) If the Change of Control Payment Date is on or after a Regular Record Date and on or
before the related Interest Payment Date, any accrued and unpaid interest will be paid to the Person in whose name a Note is registered, at the close of business on such Regular Record Date, and no additional interest will be payable to Holders who
tender pursuant to the Change of Control Offer. 
 SECTION 5.17. Issuance of Guarantees by Domestic Restricted Subsidiaries. 
 (a) The Company will not permit any Domestic Restricted Subsidiary, directly or indirectly, to Guarantee, assume or in any other manner
become liable with respect to any Indebtedness of the Company which is pari passu with or subordinate in right of payment to the Notes (“Guaranteed Indebtedness”), unless (i) such Domestic Restricted 

  

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Subsidiary simultaneously executes and delivers a supplemental indenture to this Indenture providing for a guarantee of payment of the Notes by such Domestic
Restricted Subsidiary and (ii) such Domestic Restricted Subsidiary waives and will not in any manner whatsoever claim, or take the benefit or advantage of, any rights of reimbursement, indemnity or subrogation or any other rights against the
Company or any other Restricted Subsidiary as a result of any payment by such Domestic Restricted Subsidiary under its Subsidiary Guarantee until the Notes have been paid in full. If the Guaranteed Indebtedness is (A) pari passu with the
Notes, then the guarantee of such Guaranteed Indebtedness shall be pari passu with, or subordinated to, the Subsidiary Guarantee, or (B) subordinated to the Notes, then the guarantee of such Guaranteed Indebtedness shall be subordinated
to the Subsidiary Guarantee at least to the extent that the Guaranteed Indebtedness is subordinated to the Notes. 
 (b)
Notwithstanding the foregoing, any such Subsidiary Guarantee by a Domestic Restricted Subsidiary of the Notes shall provide by its terms that it shall be automatically and unconditionally released and discharged if such Guarantor sells or otherwise
disposes of all or substantially all of its assets to, or consolidates with or merges with or into (whether or not such Guarantor is the surviving Person), another Person, other than the Company or another Guarantor, in compliance with the terms
described of Section 10.05 hereof. 
 SECTION 5.18. Suspension of Covenants. 
 From and after the date that the Notes have achieved Investment Grade Status (a “Fall-Away Event”) and no Default or Event of
Default (other than Defaults or Events of Default with respect to those covenants referred to below in this Section 5.18) has occurred and is continuing, the covenants contained in Sections 5.09, 5.11, 5.13, 5.14, 5.15, 5.16 and 5.17 hereof and
the requirements contained in Section 6.01(a)(4) hereof shall terminate and the Company and its Restricted Subsidiaries shall no longer be obligated to comply with the provisions and requirements of such sections in this Indenture with respect
to the Notes. 
 SECTION 5.19. 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 purpose of this Indenture.

 ARTICLE 6 
 CONSOLIDATION,
MERGER, CONVEYANCE, TRANSFER OR LEASE 
 The following covenants shall apply to the Notes and shall preempt Article Eight of the Base
Indenture in its entirety, and to the extent that any provisions of this Article 6 are duplicative, or in contradiction with, the Base Indenture, the provisions of this Article 6 shall govern the Notes. 
  

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 SECTION 6.01. Merger, Consolidation, or Sale of Assets. 
 (a) The Company shall not, directly or indirectly, in any transaction or series of related transactions: (1) consolidate or merge
with or into another Person (whether or not the Company is the surviving corporation); or (2) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the properties or assets of the Company and its Subsidiaries taken
as a whole, in one or more related transactions, to another Person; unless: 
 (1) either: (A) the Company is the
surviving corporation; or (B) the Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale, assignment, transfer, conveyance or other disposition shall have been made is a corporation,
limited liability company, business trust or limited partnership organized or existing under the laws of the United States, any state thereof or the District of Columbia; 
 (2) the Person formed by or surviving any such consolidation or merger (if other than the Company) or the Person to which such sale,
assignment, transfer, conveyance or other disposition shall have been made assumes all the obligations of the Company under the Notes and this Indenture, in each case pursuant to agreements reasonably satisfactory to the Trustee; provided that if
the Person formed by or surviving any such consolidation or merger (if other than the Company) is a limited liability company, business trust or limited partnership, a corporation of which all of the Equity Interests are owned by such Person shall
be added to the Indenture as a co-issuer of the Notes by a supplemental indenture pursuant to which such corporation shall act as joint and several obligor with respect to the Notes; 
 (3) immediately after such transaction no Default or Event of Default exists; 
 (4)(i) the Company or the Person formed by or surviving any such consolidation or merger (if other than the Company), or to which such
sale, assignment, transfer, conveyance or other disposition shall have been made will, on the date of such transaction after giving pro forma effect thereto and any related financing transactions as if the same had occurred at the beginning of the
applicable eight-quarter period, be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 5.09(a) hereof or (ii) the Fixed Charge Ratio for the Company or the
Person formed by or surviving any such consolidation or merger (if other than the Company) and its Restricted Subsidiaries, on the date of and after giving pro forma effect to such acquisition and such incurrence or issuance, would not be less than
such ratio for the Company and its Restricted Subsidiaries immediately prior to such transaction; and 
 (5) the Company shall
have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such merger, consolidation or sale of assets and such supplemental indenture, if any, comply with this Indenture. 
  

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 (b) The Company shall not, directly or indirectly, lease all or substantially all of its
properties or assets, in one or more related transactions, to any other Person. 
 (c) Notwithstanding the foregoing, this
Section 6.01 shall not apply to a sale, assignment, transfer, conveyance or other disposition of assets between or among the Company and any of its Restricted Subsidiaries or a merger of the Company with an Affiliate solely for the purpose of
reincorporating the Company in another jurisdiction. 
 (d) For all purposes under this Indenture and the Notes, including the
provisions described in this Section 6.01 and Sections 5.09 and 5.15, any surviving entity will, upon such transaction or series of transactions, become Restricted Subsidiaries or Unrestricted Subsidiaries as provided pursuant to
Section 5.15 and all Indebtedness of the surviving entity and its Subsidiaries that was not Indebtedness of the Company and its Subsidiaries immediately prior to such transaction or series of transactions shall be deemed to have been incurred
upon such transaction or series of transactions. 
 SECTION 6.02. Successor Corporation Substituted. 
 Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the assets of
the Company in accordance with Section 6.01 hereof, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made
shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, lease, conveyance or other disposition, the provisions of this Indenture referring to the “Company” shall refer instead to the
successor corporation and not to the Company), and may exercise every right and power of the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein; provided, however, that the
predecessor Company shall not be relieved from the obligation to pay the principal of and interest on the Notes except in the case of a sale of all of the Company’s assets that meets the requirements of Section 6.01 hereof. 
 ARTICLE 7 
 DEFAULTS AND REMEDIES 

The following provisions shall apply to the Notes and shall preempt Article Five of the Base Indenture in its entirety, and to the extent that any
provisions of this Article 7 are duplicative, or in contradiction with, the Base Indenture, the provisions of this Article 7 shall govern the Notes. 
 SECTION 7.01. Events of Default. 
 An “Event of Default” occurs if: 
 (a) the Company defaults in the payment when due of interest on the Notes and such default continues for a period of 30 days; 

 

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 (b) the Company defaults in the payment when due of principal of, or premium, if any, on
the Notes; 
 (c) the Company or any of the Guarantors fail to comply with any of the provisions of Sections 5.16 or 6.01
hereof; 
 (d) the Company or any Restricted Subsidiary fails to comply with any of the provisions of Sections 5.09, 5.11 or
5.12 hereof for 30 days after written notice to the Company stating that such notice is a notice of Default by the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class is
received by the Company; 
 (e) the Company or any Restricted Subsidiary fails to comply with (A) the provisions of
Section 5.03 for 90 days or (B) any other covenant, representation, warranty or other agreement in this Indenture or the Notes for 60 days, in each case after written notice to the Company stating that such notice is a notice of Default by
the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class is received by the Company; 
 (f) the Company or any Restricted Subsidiary defaults under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by
the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted Subsidiaries) whether such Indebtedness or guarantee now exists, or is created after the Issue Date, if that default:

 (1) is caused by a failure to pay principal of, or interest or premium, if any, on such Indebtedness prior to the
expiration of the grace period provided in such Indebtedness on the date of such default (a “Payment Default”); or 
 (2) results in the acceleration of such Indebtedness prior to its express maturity, 
 and, in each case, the principal
amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $30.0 million or more; 
 (g) a final nonappealable judgment or final nonappealable judgments for the payment of money are entered by a court or courts of competent
jurisdiction against the Company or any of its Restricted Subsidiaries and such judgment or judgments are not paid, discharged or stayed for a period (during which execution shall not be effectively stayed) of 60 days, provided that the aggregate of
all such undischarged judgments exceeds $30.0 million; 
 (h) except as permitted by this Indenture, any Subsidiary Guarantee
is held in any judicial proceeding to be unenforceable or invalid or shall cease for any reason to be in full force and effect or any Guarantor, or any Person acting on behalf of any Guarantor, shall deny or disaffirm its obligations under its
Subsidiary Guarantee; and 
  

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 (i) the Company or any Restricted Subsidiary, pursuant to or within the meaning of
Bankruptcy Law: 
 (1) commences a voluntary case, 
 (2) consents to the entry of an order for relief against it in an involuntary case, 
 (3) consents to the appointment of a custodian of it or for all or substantially all of its property, 
 (4) makes a general assignment for the benefit of its creditors, or 
 (5) generally is not paying its debts as they become due; 
 (j) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
 (1) is for relief against the Company or any Restricted Subsidiary in an involuntary case; 
 (2) appoints a custodian of the Company or any Restricted Subsidiary or for all or substantially all of the property of the Company or any
Restricted Subsidiary; or 
 (3) orders the liquidation of the Company or any Restricted Subsidiary; 
 and the order or decree remains unstayed and in effect for 60 consecutive days.; 
 SECTION 7.02. Acceleration. 
 If any Event of Default (other than an Event of Default specified in
clause (i) or (j) of Section 7.01 hereof with respect to the Company, any Restricted Subsidiary that is a Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary)
occurs and is continuing, either the Trustee or the Holders of at least 25% in principal amount of the then outstanding Notes may declare all the Notes to be due and payable immediately. Upon any such declaration, the Notes shall become due and
payable immediately. Notwithstanding the foregoing, if an Event of Default specified in clause (i) or (j) of Section 7.01 hereof occurs with respect to the Company or any Restricted Subsidiary that is a Significant Subsidiary or any
group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary, all outstanding Notes shall become due and payable without further action or notice. The Holders of a majority in aggregate principal amount of the
Notes then outstanding by notice to the Trustee may rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived except nonpayment of
principal that has become due solely because of acceleration. No such rescission shall extend to any subsequent Default or impair any right consequent thereon. 
  

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 SECTION 7.03. Other Remedies. 
 If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium, if any, and interest on the Notes or to enforce the performance of any
provision of the Notes or this Indenture. The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note in exercising
any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted by law. 
 SECTION 7.04. Waiver of Past Defaults. 
 (a) Holders
of a majority in aggregate principal amount of the then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing Default or Event of Default and its consequences hereunder, except (i) a
continuing Default, (ii) an Event of Default in the payment of the principal of, premium, if any, or interest on, the Notes (including in connection with an offer to purchase), (iii) a Default arising from the failure to redeem or purchase
any Note when required pursuant to this Indenture, or (iv) a Default in respect of a provision that under Section 9.02 hereof cannot be amended without the consent of each Holder affected. Upon any such waiver, such Default shall cease to
exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 
 (b) In the event of any Event of Default specified in Section 7.01(f), such Event of Default and all consequences thereof (excluding, however, any
resulting payment Default) will be annulled, waived and rescinded, automatically and without action by the Trustee or the Holders, if, within 30 days after such Event of Default arose, the Company delivers an Officers’ Certificate to the
Trustee stating that (x) the Indebtedness or Guarantee that is the basis for such Event of Default has been discharged or (y) the holders thereof have rescinded or waived the acceleration, notice or action, as the case may be, giving rise
to such Event of Default or (z) the default that is the basis for such Event of Default has been cured. 
 SECTION 7.05. Control by Majority.

 Holders of a majority in principal amount of the then outstanding Notes may direct the time, method and place of conducting any proceeding
for exercising any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture that the Trustee determines may be unduly
prejudicial to the rights of other Holders of Notes or that may involve the Trustee in personal liability. 
  

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 SECTION 7.06. Limitation on Suits. 
 A Holder of a Note may pursue a remedy with respect to this Indenture or the Notes only if: 
 (a) the Holder of a Note gives to the Trustee written notice of a continuing Event of Default; 
 (b) the Holders of
at least 25% in principal amount of the then outstanding Notes make a written request to the Trustee to pursue the remedy; 
 (c) such Holder of a Note or Holders of Notes offer and, if requested, provide to the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (d) the Trustee does not comply with the request within 60 days after receipt of the request and the offer and, if requested, the
provision of indemnity; and 
 (e) during such 60-day period the Holders of a majority in principal amount of the then
outstanding Notes do not give the Trustee a direction inconsistent with the request. 
 A Holder of a Note may not use this Indenture to prejudice the rights
of another Holder of a Note or to obtain a preference or priority over another Holder of a Note. 
 SECTION 7.07. Rights of Holders of Notes to Receive
Payment. 
 Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to receive payment of principal,
premium, if any, interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall
not be impaired or affected without the consent of such Holder. 
 SECTION 7.08. Collection Suit by Trustee. 
 If an Event of Default specified in Section 7.01(a) or (b) hereof 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, if any, and interest remaining unpaid on the Notes and interest on overdue principal and, to the extent lawful, interest and such
further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 SECTION 7.09. 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 in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents 

  

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and counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Company (or any other obligor upon the Notes), its creditors or
its property and shall be entitled and empowered 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 shall consent 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 607 of the Base Indenture. 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 607 of the Base Indenture out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be 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
shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the 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 7.10. Priorities. 
 If the Trustee collects any money pursuant to this Article, it shall pay out the money in the following order: 
 First: to the Trustee, its agents and attorneys for amounts due under Section 607 of the Base Indenture, including payment of all compensation,
expense and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 
 Second: to Holders of
Notes for amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest,
respectively; and 
 Third: to the Company or to such party as a court of competent jurisdiction shall direct. 
 The Trustee may fix a record date and payment date for any payment to Holders of Notes pursuant to this Section 7.10. 
 SECTION 7.11. Undertaking for Costs. 
 In any suit for
the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking
to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims
or defenses made by the party litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder of a Note pursuant to Section 7.07 hereof, or a suit by Holders of more than 10% in principal amount of the then outstanding Notes.

  

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 ARTICLE 8 
 LEGAL DEFEASANCE AND COVENANT DEFEASANCE 
 The following provisions shall apply to the Notes and shall
preempt Sections 402, 403, 403, 405, 406, 407 and 408 of the Base Indenture in their entirety, and to the extent that any provisions of this Article 8 are duplicative, or in contradiction with, the Base Indenture, the provisions of this Article 8
shall govern the Notes. 
 SECTION 8.01. Option to Effect Legal Defeasance or Covenant Defeasance. 
 The Company may, at its option and at any time, elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance
with the conditions set forth below in this Article 8. 
 SECTION 8.02. Legal Defeasance and Discharge. 
 Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Company shall, subject to the
satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from its obligations with respect to all outstanding Notes on the date the conditions set forth below are satisfied (hereinafter,
“Legal Defeasance”) and each Guarantor shall be released from all of its obligations under its Subsidiary Guarantee. For this purpose, Legal Defeasance means that the Company shall be deemed to have paid and discharged the
entire Indebtedness represented by the outstanding Notes, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in (a), (b), (c) and
(d) below, and to have satisfied all its other obligations under the Notes and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following
provisions which shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of outstanding Notes to receive solely from the trust fund described in Section 8.04 hereof, and as more fully set forth in such
Section, payments in respect of the principal of, premium, if any, or interest on such Notes when such payments are due, (b) the Company’s obligations with respect to such Notes under Sections 3.06, 3.07 and 3.10 and Sections 5.01 and 5.02
hereof, (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Company’s obligations in connection therewith and (d) this Article 8. If the Company exercises under Section 8.01 hereof the option
applicable to this Section 9.02, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, payment of the Notes may not be accelerated because of an Event of Default. Subject to compliance with this Article 8, the
Company may exercise its option under this Section 8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof. 
  

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 SECTION 8.03. Covenant Defeasance. 
 Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, the Company and its Restricted Subsidiaries shall, subject to the satisfaction of the conditions set
forth in Section 8.04 hereof, be released from its obligations under the covenants contained in Sections 5.08 through 5.18 hereof, and the operation of Section 6.01 hereof, with respect to the outstanding Notes on and after the date the
conditions set forth in Section 8.04 are satisfied (hereinafter, “Covenant Defeasance”) and each Guarantor shall be released from all of its obligations under its Subsidiary Guarantee with respect to such covenants in
connection with such outstanding Notes and the Notes shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with
such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that,
with respect to the outstanding Notes, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference
elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under Section 7.01
hereof, but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby. In addition, upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03
hereof, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, Sections 7.01(d) through 7.01(f) hereof shall not constitute Events of Default. 
 SECTION 8.04. Conditions to Legal Defeasance or Covenant Defeasance. 
 The following shall be the
conditions to the application of either Section 8.02 or 8.03 hereof to the outstanding Notes. 
 The Legal Defeasance or Covenant
Defeasance may be exercised only if: 
 (a) the Company must irrevocably deposit with the Trustee, in trust, for the benefit
of the Holders of the Notes, cash in United States dollars, U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient, in the opinion of an Independent Financial Advisor, to pay the principal of, premium, if any,
and interest on the outstanding Notes on the Stated Maturity or on the applicable redemption date, as the case may be, and the Company must specify whether the Notes are being defeased to maturity or to a particular redemption date; 
 (b) in the case of Legal Defeasance, the Company delivers to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee
confirming that (a) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (b) since the Issue Date, there has been a change in the applicable federal income tax law, in either case to the
effect that, and based thereon such Opinion of Counsel will confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to
federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 
  

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 (c) in the case of Covenant Defeasance, the Company delivers to the Trustee an Opinion of
Counsel reasonably acceptable to the Trustee confirming that the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income
tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 
 (d) no Default or Event of Default shall have occurred and be continuing either: (i) on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to
such deposit); or (ii) insofar as Events of Default from bankruptcy or insolvency events are concerned, at any time in the period ending on the 91st day after the date of deposit; 
 (e) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material
agreement or instrument (other than this Indenture) to which the Company or any of its Restricted Subsidiaries is a party or by which the Company or any of its Restricted Subsidiaries is bound; 
 (f) the Company delivers to the Trustee an Opinion of Counsel, subject to customary exceptions and assuming no intervening bankruptcy of
the Company or any Guarantor between the date of deposit and the 91st day following the deposit and assuming that no
Holder is an “insider” of the Company under applicable bankruptcy law, to the effect that on the 91st day following the deposit, the defeasance trust funds will not be subject to the effect of any applicable bankruptcy, insolvency,
reorganization or similar laws generally affecting creditors’ rights; 
 (g) the Company must deliver to the Trustee an
Officers’ Certificate stating that the deposit was not made by the Company with the intent of preferring the Holders of Notes over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding creditors of
the Company or others; and 
 (h) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 
 SECTION 8.05. Deposited
Cash and U.S. Government Obligations To Be Held In Trust; Other Miscellaneous Provisions. 
 Subject to Section 8.06 hereof, all cash
and non-callable U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof
in respect of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as
Paying Agent) as the Trustee may determine, to the Holders of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such cash and securities need not be segregated from other funds except to the extent
required by law. 
  

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 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or
assessed against the cash or U.S. Government Obligations deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the
Holders of the outstanding Notes. 
 Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay to the
Company from time to time upon the request of the Company any cash or non-callable U.S. Government Obligations held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized firm of independent certified public
accountants of recognized international standing expressed in a written certification thereof delivered to the Trustee (which may be the certification delivered under Section 8.04(a) hereof), are in excess of the amount thereof that would then
be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 
 SECTION 8.06. Repayment to Company. 
 Any cash or non-callable U.S. Government Obligations deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment
of the principal, premium, if any, or interest on any Note and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall be paid to the Company on its request or (if then held by the
Company) shall be discharged from such trust; and the Holder shall thereafter, as an unsecured creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such cash and securities,
and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in
The New York Times and The Wall Street Journal (national edition), notice that such cash and securities remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such notification or
publication, any unclaimed balance of such cash and securities then remaining shall be repaid to the Company. 
 SECTION 8.07. Reinstatement.

 If the Trustee or Paying Agent is unable to apply any cash or non-callable U.S. Government Obligations in accordance with Section 8.02
or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Notes
shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply all such cash and securities in accordance with Section 8.02 or
8.03 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium, if any, or interest on any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the
Holders to receive such payment from the cash and securities held by the Trustee or Paying Agent. 
  

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 ARTICLE 9 
 AMENDMENT, SUPPLEMENT AND WAIVER 
 The following provisions shall apply to the Notes and shall preempt
Article Nine of the Base Indenture in its entirety, and to the extent that any provisions of this Article 9 are duplicative, or in contradiction with, the Base Indenture, the provisions of this Article 9 shall govern the Notes. 
 SECTION 9.01. Without the Consent of Holders. 
 Notwithstanding Section 9.02 of this Indenture, the Company and the Trustee may amend or supplement this Indenture or the Notes without the consent of any Holder of a Note: 
 (a) to cure any ambiguity, defect or inconsistency; 
 (b) to provide for uncertificated Notes in addition to or in place of certificated Notes; 
 (c) to provide for the assumption of the Company’s or any Guarantor’s obligations to the Holders of the Notes by a successor to
the Company pursuant to Article 6; 
 (d) to make any change that would provide any additional rights or benefits to the
Holders of the Notes or that does not adversely affect the legal rights hereunder of any such Holder; 
 (e) to comply with
requirements of the Commission in order to effect or maintain the qualification of this Indenture under the Trust Indenture Act; 
 (f) to add a Guarantor pursuant to Section 10.02; 
 (g) to evidence and provide the acceptance of the
appointment of a successor Trustee pursuant to Sections 610 and 611 of the Base Indenture; 
 (h) to conform the text of this
Indenture, the Subsidiary Guarantee or the Notes to any provision of the “Description of Notes” contained in the final offering document relating to the original offering of the Notes, to the extent that such provision was intended to be a
verbatim recitation of a provision of this Indenture, the Subsidiary Guarantees or the Notes; 
 (i) to provide for the
issuance of Additional Notes and related Guarantees in accordance with the limitations in this Indenture; and 
 (j) to comply
with the rules of any applicable securities Depositary. 
 Upon the request of the Company accompanied by a resolution of its Board of
Directors authorizing the execution of any such amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 603 of the Base Indenture, the Trustee shall 

  

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join with the Company in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make any
further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this Indenture or
otherwise. 
 After an amendment or supplement under this Section becomes effective, the Company shall mail to the Holders a notice briefly
describing the amendment or supplement. Any failure of the Company to mail such notice to all Holders, or any defect therein, shall not, however, in any way impair or affect the validity of such amended or supplemental indenture. 
 SECTION 9.02. With Consent of Holders of Notes. 
 Except as provided in Section 9.01 and below in this Section 9.02, the Company and the Trustee may amend or supplement this Indenture (including Sections 4.08, 5.12 and 5.16 hereof) and the Notes may be amended or supplemented
with the consent of the Holders of at least a majority in aggregate principal amount at maturity of the Notes then outstanding voting as a single class (including, without limitation, consents obtained in connection with a purchase of, or tender
offer or exchange offer for, Notes), and, subject to Sections 7.04 and 7.07 hereof, any existing Default or Event of Default or compliance with any provision of this Indenture or the Notes may be waived with the consent of the Holders of a majority
in aggregate principal amount at maturity of the then outstanding Notes voting as a single class (including without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, the Notes). 
 Upon the request of the Company accompanied by a Board Resolution authorizing the execution of any such amended or supplemental indenture, and upon the
filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 603 of the Base Indenture, the Trustee shall join with
the Company in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee
may in its discretion, but shall not be obligated to, enter into such amended or supplemental indenture. 
 It shall not be necessary for the
consent of the Holders of Notes under this Section 9.02 to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 
 After an amendment, supplement or waiver under this Section becomes effective, the Company shall mail to the Holders of Notes affected thereby a notice
briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver.
Subject to Sections 7.04 and 7.07 hereof, the Holders of a majority in aggregate principal amount at maturity of the Notes then outstanding voting as a single class may waive compliance in a particular instance by the Company with any provision of
this Indenture or the Notes. However, without the consent of each Holder affected, an amendment or waiver under this Section 9.02 may not (with respect to any Notes held by a non-consenting Holder): 
 (a) reduce the principal amount of the then outstanding Notes whose Holders must consent to an amendment, supplement or waiver;

  

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 (b) reduce the principal of or change the fixed maturity of any Note or alter any of the
provisions with respect to the redemption of the Notes except as provided above with respect to Sections 4.08, 5.12 and 5.16 hereof; 
 (c) reduce the rate of or change the time for payment of interest on any Note; 
 (d) waive a Default or Event of
Default in the payment of principal of, or interest or premium, if any, on the Notes (except a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding Notes and a waiver of
the payment default that resulted from such acceleration); 
 (e) make any Note payable in money other than that stated in the
Notes; 
 (f) make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of
Holders of Notes to receive payments of principal of, or interest or premium, if any, on the Notes; 
 (g) waive a redemption
payment with respect to any Note (other than a payment required by Sections 4.08, 5.12 and 5.16 hereof); 
 (h) cause the
Notes to become subordinated in right of payment to any other Indebtedness; 
 (i) release any Guarantor from any of its
obligations under its Subsidiary Guarantee or this Indenture, except in accordance with the terms of Section 10.05 hereof; or 
 (j) make any change in Sections 7.04 or 7.07 or the foregoing amendment and waiver provisions. 
 SECTION 9.03. Compliance with Trust Indenture
Act. 
 Every amendment or supplement to this Indenture or the Notes shall be set forth in a amended or supplemental indenture that
complies with the TIA as then in effect. 
 SECTION 9.04. Revocation and Effect of Consents. 
 Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a Note and
every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if 

  

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notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a Note may revoke the consent as to its Note if
the Trustee receives written notice of revocation before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 

SECTION 9.05. Notation on or Exchange of Notes. 
 The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee shall, upon receipt of a written order from
the Company to authenticate such Notes, authenticate new Notes that reflect the amendment, supplement or waiver. 
 Failure to make the
appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver. 
 SECTION 9.06. Trustee to
Sign Amendments. 
 The Trustee shall sign any amended or supplemental indenture authorized pursuant to this Article 9 if the amendment or
supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amendment or supplemental indenture until the Board of Directors approves it. In executing any amended or
supplemental indenture, the Trustee shall be entitled to receive and (subject to Section 601 of the Base Indenture) shall be fully protected in relying upon, in addition to the documents required by Section 603 of the Base Indenture, an
Officer’s Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental indenture is authorized or permitted by this Indenture. 
 ARTICLE 10 
 SUBSIDIARY GUARANTEES 
 SECTION 10.01. Subsidiary Guarantee. 
 (a) Subject to this Article 10, in the event
that any Restricted Subsidiary of the Company shall execute and deliver a supplemental indenture to this Indenture with respect to a Subsidiary Guarantee (as required by Section 10.02 hereof or otherwise), any such Guarantor shall, jointly and
severally, unconditionally guarantee to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes or the
obligations of the Company hereunder or thereunder, that: (i) the principal of premium, if any, and interest on the Notes will be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the
overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Company to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and
thereof; and (ii) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will be promptly paid in full when due or performed in accordance with the terms of 

  

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the extension or renewal, whether at Stated Maturity, by acceleration pursuant to Section 7.02 hereof or otherwise. Failing payment when due of any
amount so guaranteed or any performance so guaranteed for whatever reason, any Guarantor shall be jointly and severally obligated to pay the same immediately. Any Guarantor also agrees that this is a guarantee of payment and not a guarantee of
collection. 
 (b) Any Guarantor agrees that its obligations with regard to such Subsidiary Guarantee shall be joint and
several, unconditional, irrespective of the validity or enforceability of the Notes or the obligations of the Company under this Indenture, the absence of any action to enforce the same, the recovery of any judgment against the Company or any other
obligor with respect to this Indenture, the Notes or the obligations of the Company under this Indenture or the Notes, any action to enforce the same or any other circumstances (other than complete performance) which might otherwise constitute a
legal or equitable discharge or defense of a Guarantor. Any Guarantor further, to the extent permitted by law, waives and relinquishes all claims, rights and remedies accorded by applicable law to guarantors and agrees not to assert or take
advantage of any such claims, rights or remedies, including but not limited to: (i) any right to require any of the Trustee, the Holders or the Company (each a “Benefited Party”), as a condition of payment or performance
by such Guarantor, to (A) proceed against the Company, any other guarantor (including any other Guarantor) of the obligations under the Subsidiary Guarantees or any other person, (B) proceed against or exhaust any security held from the
Company, any such other guarantor or any other person, (C) proceed against or have resort to any balance of any deposit account or credit on the books of any Benefited Party in favor of the Company or any other person, or (D) pursue any
other remedy in the power of any Benefited Party whatsoever; (ii) any defense arising by reason of the incapacity, lack of authority or any disability or other defense of the Company including any defense based on or arising out of the lack of
validity or the unenforceability of the obligations under the Subsidiary Guarantees or any agreement or instrument relating thereto or by reason of the cessation of the liability of the Company from any cause other than payment in full of the
obligations under the Subsidiary Guarantees; (iii) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the
principal; (iv) any defense based upon any Benefited Party’s errors or omissions in the administration of the obligations under the Subsidiary Guarantees, except behavior which amounts to bad faith; (v)(A) any principles or provisions of
law, statutory or otherwise, which are or might be in conflict with the terms of the Subsidiary Guarantees and any legal or equitable discharge of such Guarantor’s obligations hereunder, (B) the benefit of any statute of limitations
affecting such Guarantor’s liability hereunder or the enforcement hereof, (C) any rights to set-offs, recoupments and counterclaims and (D) promptness, diligence and any requirement that any Benefited Party protect, secure, perfect or
insure any security interest or lien or any property subject thereto; (vi) notices, demands, presentations, protests, notices of protest, notices of dishonor and notices of any action or inaction, including acceptance of the Subsidiary
Guarantees, notices of default under the Notes or any agreement or instrument related thereto, notices of any renewal, extension or modification of the obligations under the Subsidiary Guarantees or any agreement related thereto, and notices of any
extension of credit to the Company and any right to consent to any thereof; (vii) to the extent permitted under applicable law, the benefits of any “One Action” rule and (viii) any defenses or 

  

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benefits that may be derived from or afforded by law which limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms
of the Subsidiary Guarantees. Except to the extent expressly provided herein, including Section 8.02, 8.03 and 10.05, any Guarantor covenants that its Subsidiary Guarantee will not be discharged except by complete performance of the obligations
contained in its Guarantee and this Indenture. 
 (c) If any Holder or the Trustee is required by any court or otherwise to
return to the Company, any Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the Company or any Guarantors, any amount paid by either to the Trustee or such Holder, any Subsidiary Guarantee, to
the extent theretofore discharged, shall be reinstated in full force and effect. 
 (d) Any Guarantor agrees that it shall not
be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Any Guarantor further agrees that, as between any Guarantors, on the one
hand, and the Holders and the Trustee, on the other hand, (i) the maturity of the obligations guaranteed hereby may be accelerated as provided in Section 7.02 hereof for the purposes of any Subsidiary Guarantee, notwithstanding any stay,
injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby and (ii) in the event of any declaration of acceleration of such obligations as provided in Section 7.02 hereof, such obligations
(whether or not due and payable) shall forthwith become due and payable by any Guarantors for the purpose of any such Subsidiary Guarantee. Any Guarantors shall have the right to seek contribution from any non-paying Guarantor so long as the
exercise of such right does not impair the rights of the Holders under the applicable Subsidiary Guarantee. 
 SECTION 10.02. Additional Guarantees.

 Prior to a Fall-Away Event, if any Domestic Restricted Subsidiary (other than any Securitization Subsidiary that has entered into or
established a Permitted Securitization Program), whether existing on the date of this Indenture or hereafter acquired or formed by the Company, incurs any Indebtedness (other than intercompany Indebtedness and Intercompany Bonds between or among
such Domestic Restricted Subsidiary and the Company or any of its Restricted Subsidiaries), including without limitation, any Guaranteed Indebtedness contemplated by Section 5.17 hereof, then the Company shall cause any such Domestic Restricted
Subsidiary to, within ten Business Days of the date on which any such Domestic Restricted Subsidiary became so obligated, (a) execute and deliver to the Trustee a supplemental indenture in form and substance reasonably satisfactory to the
Trustee pursuant to which such Domestic Restricted Subsidiary shall unconditionally guarantee, on a senior unsecured basis, all of the Company’s obligations under the Notes and this Indenture (including the payment of principal, premium, if
any, and interest on the Notes) on the terms set forth herein and therein and (b) deliver to the Trustee an Opinion of Counsel that, subject to customary assumptions and exclusions, such supplemental indenture has been duly executed and
delivered by such Restricted Subsidiary. Any Domestic Restricted Subsidiary that becomes a Guarantor shall remain a Guarantor unless (i) designated an Unrestricted Subsidiary by the Company in accordance with this Indenture; (ii) otherwise
released from its obligations as a Guarantor 

  

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pursuant to Section 10.05 hereof; or (iii) the circumstances giving rise to the obligation to provide a Subsidiary Guarantee under
Section 5.17 or otherwise pursuant to this Section no longer exist. 
 SECTION 10.03. Limitation on Guarantor Liability. 
 Any Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Subsidiary Guarantee of
any such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any
Subsidiary Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and any Guarantors hereby irrevocably agree that the obligations of such Guarantor under this Article 10 shall be limited to the maximum amount as will, after
giving effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant under such laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on
behalf of any other Guarantor in respect of the obligations of any such other Guarantor under this Article 10, result in the obligations of such Guarantor under its Subsidiary Guarantee not constituting a fraudulent transfer or conveyance.

 SECTION 10.04. Guarantors May Merge, Consolidate, Etc., On Certain Terms. 
 Except as otherwise provided in Section 10.05 hereof, no Guarantor may sell or otherwise dispose of all or substantially all of its assets to, or
consolidate with or merge with or into (whether or not such Guarantor is the surviving Person), another Person, other than the Company or another Guarantor, unless: 
 (a) immediately after giving effect to such transaction, no Default or Event of Default exists; and 
 (b) either (i) the Person acquiring the property in any such sale or disposition, or the Person formed by or surviving any such
consolidation or merger (if such surviving Person is not the Guarantor), assumes all the obligations of that Guarantor under this Indenture and the Subsidiary Guarantee of such Guarantor pursuant to a supplemental indenture reasonably satisfactory
to the Trustee, or (ii) in the case of a sale or other disposition of all or substantially all of the assets of such Guarantor, the Net Proceeds of such sale of other disposition are applied in accordance with Section 5.12. 
 In case of any such sale or other disposition, consolidation, merger, sale or conveyance and upon the assumption by the successor Person, by supplemental
indenture, executed and delivered to the Trustee and reasonably satisfactory in form to the Trustee, of the Subsidiary Guarantee and the due and punctual performance of all of the covenants and conditions of this Indenture to be performed by the
Guarantor, such successor Person shall succeed to and be substituted for the Guarantor with the same effect as if it had been named herein or in any supplemental indenture to this Indenture as a Guarantor. All the Subsidiary Guarantees so issued
shall in all respects have the same legal rank and benefit under this Indenture as the Subsidiary Guarantees theretofore and thereafter issued in accordance with the terms of this Indenture as though all of such Subsidiary Guarantees had been issued
at the date of the execution hereof. 
  

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 Except as set forth in Articles 5 and 6 hereof, and notwithstanding clauses (a) and (b) of this
Section 10.04, nothing contained in this Indenture or in any of the Notes shall prevent any consolidation or merger of a Guarantor with or into the Company or another Guarantor, or shall prevent any sale or conveyance of the property of a
Guarantor as an entirety or substantially as an entirety to the Company or another Guarantor. 
 SECTION 10.05. Releases of Subsidiary Guarantees.

 (a) The Subsidiary Guarantee of a Guarantor will be released and such Person shall no longer be deemed a Guarantor for
purposes of this Indenture: 
 (1) in connection with any sale, disposition or other transfer of all or substantially all of
the assets of that Guarantor (including by way of merger or consolidation) to a Person that is not (either before or after giving effect to such transaction) the Company or a Subsidiary of the Company, if the Net Proceeds of that sale or other
disposition are applied in accordance with Section 5.12 hereof; 
 (2) in connection with any sale, disposition or other
transfer of all of the Capital Stock of a Guarantor to a Person (including by way of merger or consolidation) that is not (either before or after giving effect to such transaction) the Company or a Subsidiary of the Company, if the Net Proceeds of
that sale are applied (or the Company certifies in an Officer’s Certificate delivered to the Trustee that such Net Proceeds will be applied) in accordance with Section 5.12 hereof; 
 (3) if the Company properly designates the Guarantor as an Unrestricted Subsidiary in accordance with Section 5.15 hereof;

 (4) if all Indebtedness and Guaranteed Indebtedness of such Guarantor has been paid in full or otherwise discharged.

 (b) Upon delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the effect
that such sale or other disposition was made by the Company in accordance with the provisions of this Indenture, including without limitation that the application of Net Proceeds were applied (or, in the case of clause (a)(ii) of this
Section 10.05, will be applied) in accordance with Section 5.12 hereof, or such designation was made in accordance with Section 5.15 hereof, as the case may be, the Trustee shall execute any documents reasonably required in order to
evidence the release of any Guarantor from its obligations under its Subsidiary Guarantee. 
 (c) Any Guarantor not released
from its obligations under its Subsidiary Guarantee shall remain liable for the full amount of principal of and interest on the Notes and for the other obligations of any Guarantor under this Indenture as provided in this Article 10. 
  

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 ARTICLE 11 
 SATISFACTION AND DISCHARGE 
 The following provisions shall apply to the Notes and shall preempt Sections
401, 406 and 407 of the Base Indenture in their entirety, and to the extent that any provisions of this Article 11 are duplicative, or in contradiction with, the Base Indenture, the provisions of this Article 11 shall govern the Notes. 

SECTION 11.01. Satisfaction and Discharge. 
 This
Indenture will be discharged and will cease to be of further effect, except as to surviving rights of registration of transfer or exchange of the Notes, as to all Notes issued hereunder, when: 
 (a) either: 
 (1) all Notes that have been previously authenticated (except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose payment money has previously been deposited in trust or segregated and held in trust by the
Company and is thereafter repaid to the Company or discharged from the trust) have been delivered to the Trustee for cancellation; or 
 (2) all Notes that have not been previously delivered to the Trustee for cancellation (A) have become due and payable or (B) will become due and payable at their maturity within one year or (C) are to
be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of a notice of redemption by the Trustee, and the Company has irrevocably deposited or caused to be deposited with the Trustee as trust funds in
trust solely for the benefit of the Holders, cash in U.S. dollars, non-callable U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient without consideration of any reinvestment of interest, to pay and discharge
the entire Indebtedness on the Notes not previously delivered to the Trustee for cancellation for principal, premium, if any, and interest on the Notes to the date of deposit, in the case of Notes that have become due and payable, or to the Stated
Maturity or redemption date, as the case may be; 
 (b) the Company has paid or caused to be paid all other sums payable by it
under this Indenture; and 
 (c) the Company delivers to the Trustee an Officers’ Certificate and Opinion of Counsel
stating that all conditions precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been satisfied. 
 SECTION
11.02. Deposited Cash and U.S. Government Obligations To Be Held In Trust; Other Miscellaneous Provisions. 
 Subject to
Section 11.03 hereof, all cash and non-callable U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, 

  

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collectively for purposes of this Section 11.02, the “Trustee”) pursuant to Section 11.01 hereof in respect of the outstanding Notes
shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may
determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such cash and securities need not be segregated from other funds except to the extent required by law.

 SECTION 11.03. Repayment to Company. 
 Any cash or non-callable U.S. Government Obligations deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium, if any, or interest on, any Note and remaining
unclaimed for two years after such principal, and premium, if any, or interest has become due and payable shall be paid to the Company on its request or (if then held by the Company) shall be discharged from such trust; and the Holder shall
thereafter, as an unsecured creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such cash and securities, and all liability of the Company as trustee thereof, shall thereupon
cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in The New York Times and The Wall Street Journal (national edition),
notice that such cash and securities remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such notification or publication, any unclaimed balance of such cash and securities then remaining
will be repaid to the Company. 
 ARTICLE 12 
 MISCELLANEOUS 
 SECTION 12.01. No Personal Liability of Directors, Officers, Employees and Stockholders. 

No past, present or future director, officer, employee, incorporator or stockholder of the Company, any Guarantor or the Trustee, as such, shall have
any liability for any obligations of the Company or of the Guarantors under the Notes, this Indenture, the Subsidiary Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes 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 12.02.
Governing Law. 
 THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE AND THE NOTES WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 
  

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 SECTION 12.03. No Adverse Interpretation of Other Agreements. 
 This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other Person. Any
such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 SECTION 12.04. Successors. 
 All covenants and agreements of the Company in this Indenture and the Notes shall bind its successors. All covenants and agreements of the Trustee in this
Indenture shall bind its successors. 
 SECTION 12.05. Severability. 
 In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired
thereby. 
 SECTION 12.06. Counterpart Originals. 
 The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 
 SECTION 12.07. Table of Contents, Headings, Etc. 
 The Table of Contents and Headings in this
Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and shall in no way modify or restrict any of the terms or provisions hereof. 
 [Signatures on following page] 
  

 80 

 SIGNATURES 
 Dated as of January 24, 2007 
 ISSUER: 
  

			
	PILGRIM’S PRIDE CORPORATION
		
	By:	 	 /s/ Richard A. Cogdill

	Name:	 	Richard A. Cogdill
	Title:	 	Executive Vice President, Chief Financial Officer, Secretary and Treasurer

 TRUSTEE: 
  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Patrick T. Giordano

	Name:	 	Patrick T. Giordano
	Title:	 	Vice President

  

 81 

 EXHIBIT A 
 [FORM OF FACE OF NOTE] 

			
	 No.
	  	$

 CUSIP No. 721467 AE 8 
 7 5/8% Senior Note Due May 1, 2015

 Pilgrim’s Pride Corporation, a Delaware corporation, promises to pay to CEDE & CO., or registered assigns, the
principal sum of [                    ] Dollars
($                     ) on May 1, 2015. 
 Interest Payment Dates: May 1 and November 1. 
 Record Dates: April 15 and October 15. 
 Additional provisions of this Note are set forth on the other side of this Note. 
  

			
	PILGRIM’S PRIDE CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated: January 24, 2007 
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
	 as Trustee, certifies that this is one of the [Global] Notes referred to in the within mentioned Indenture.

		
	By:	 	  

		 	Authorized Signatory

 [GLOBAL NOTE LEGEND] 
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER
ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 3.06 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 3.06(a) OF THE
INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 3.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.

 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

 [FORM OF REVERSE SIDE OF NOTE] 
 7 5/8% Senior Notes Due May 1, 2015

 1. Interest 
 Pilgrim’s
Pride Corporation, a Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Company”), promises to pay interest on the principal amount of
this Note at the rate per annum shown above. The Company will pay interest semi-annually in arrears on May 1 and November 1 of each year, or, if such date is not a Business Day, on the next succeeding Business Day (each, an
“Interest Payment Date”), commencing November 1, 2007. Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance of this Note.
Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Company will pay interest on overdue principal at the rate borne by this Note plus 2.0% per annum, and it will pay interest on overdue installments of
interest at the same rate to the extent lawful. 
 2. Method of Payment 
 The Company will pay interest on the Notes (except defaulted interest) to the Persons who are registered holders of Notes at the close of business on the April 15 or October 15 next preceding the Interest
Payment Date even if Notes are canceled after the Regular Record Date and on or before the Interest Payment Date. Holders must surrender Notes to a Paying Agent to collect principal payments. The Company will pay principal and interest in money of
the United States that at the time of payment is legal tender for payment of public and private debts. Payments in respect of the Notes represented by a Global Note (including principal, premium and interest) will be made by wire transfer of
immediately available funds to the accounts specified by the Depositary. The Company will make all payments in respect of a certificated Note (including principal, premium and interest) by mailing a check to the registered address of each Holder
thereof; provided, however, that payments on a certificated Note will be made by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving
written notice to the Trustee or the Paying Agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion).

 3. Paying Agent and Registrar 
 Initially, Wells Fargo Bank, National Association (the “Trustee”), will act as Paying Agent and Registrar. The Company may appoint and change any Paying Agent or Registrar without notice. The Company or any of its
Subsidiaries may act as Paying Agent or Registrar. 
 4. Indenture 
 The Company issued the Notes under an Indenture dated as of January 24, 2007, as supplemented by that First Supplemental Indenture dated as of January 24, 2007 (collectively, the
“Indenture”), each among the Company and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust 

 
Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of the Indenture (the “TIA”). Terms
defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of those terms. To the extent any
provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. 
 The Company shall be entitled, subject to its compliance with Section 5.09 of the Indenture, to issue Additional Notes pursuant to Section 3.13 of the Indenture. The Initial Notes issued on the date hereof and any Additional Notes
will be treated as a single class for all purposes under the Indenture. 
 5. Optional Redemption 
 Except as set forth below, the Company shall not be entitled to redeem the Notes. 
 On and after May 1, 2011, the Company shall be entitled at its option to redeem all or a portion of the Notes upon not less than 30 nor more than
60 days’ notice, at the redemption prices (expressed in percentages of principal amount on the redemption date) plus accrued interest to the redemption date, if redeemed during the 12-month period commencing on May 1 of the years set
forth below: 
  

				
	 Year
	  	Redemption
Price	 
	 2011
	  	103.813	%
	 2012
	  	101.906	%
	 2013 and thereafter
	  	100.000	%

 In addition, prior to May 1, 2010, the Company shall be entitled at its option on one or more
occasions to redeem Notes in an aggregate principal amount not to exceed 35% of the aggregate principal amount of the Notes issued (which includes the Additional Notes, if any) at a redemption price (expressed as a percentage of principal amount) of
107.625%, plus accrued and unpaid interest to the redemption date, with the net cash proceeds from one or more Equity Offerings; provided, however, that (1) at least 65% of such aggregate principal amount of Notes (which includes
the Additional Notes, if any) remains outstanding immediately after the occurrence of each such redemption (other than Notes held by the Company or its Subsidiaries); and (2) each such redemption occurs within 90 days after the date of the
closing of such Equity Offering. 
 6. Notice of Redemption 
 Notice of redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each Holder of Notes to be redeemed at his registered address. 

 7. Put Provisions 
 Upon a Change of Control Triggering Event, any Holder of Notes will have the right to cause the Company to repurchase all or any part of the Notes of such Holder at a repurchase price equal to 101% of the principal
amount of the Notes to be repurchased plus accrued interest to the date of repurchase as provided in, and subject to the terms of, the Indenture. 
 In the event the amount of Excess Proceeds from Asset Dispositions consummated by the Company exceeds $40 million, any Holder of Notes will have the right to cause the Company to repurchase all or any part of the Notes of such Holder at a
repurchase price equal to 100% of the principal amount of the Notes to be repurchased plus accrued interest to the date of repurchase as provided in, and subject to the terms of, the Indenture. 
 8. Denominations; Transfer; Exchange 
 The Notes are
in registered form without coupons in denominations of $2,000 principal amount and whole multiples of $2,000. A Holder may transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to
furnish appropriate endorsements or transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any Notes selected for redemption (except, in the case of
a Note to be redeemed in part, the portion of the Note not to be redeemed) or any Notes for a period of 15 days before a selection of Notes to be redeemed or 15 days before an Interest Payment Date. 
 9. Persons Deemed Owners 
 The registered Holder of
this Note may be treated as the owner of it for all purposes. 
 10. Discharge and Defeasance 
 Subject to certain conditions, the Company at any time shall be entitled to terminate some or all of its obligations under the Notes and the Indenture if
the Company deposits with the Trustee money or U.S. Government Obligations for the payment of principal and interest on the Notes to redemption or maturity, as the case may be. 
 11. Amendment, Waiver 
 Subject to certain exceptions set forth in the Indenture, (a) the
Indenture and the Notes may be amended with the written consent of the Holders of at least a majority in principal amount outstanding of the Notes and (b) any default or noncompliance with any provision may be waived with the written consent of
the Holders of a majority in principal amount outstanding of the Notes. Subject to certain exceptions set forth in the Indenture, without the consent of any Holder, the Company and the Trustee shall be entitled to amend the Indenture or the Notes to
cure any ambiguity, defect or inconsistency, to provide for uncertificated Notes in addition to or in place of certificated Notes, to provide for the assumption of the Company’s or any Guarantor’s obligations to the Holders of the Notes by
a successor to the Company in case of a merger, consolidation or sale of substantially all of the Company’s assets, to make any change that would provide any additional rights or benefits to the Holders of the Notes or that does not 

 
adversely affect the legal rights hereunder of any such Holder, to comply with requirements of the Commission in order to effect or maintain the
qualification of this Indenture under the TIA, to add a Guarantor, or to appoint a successor Trustee. 
 12. Defaults and Remedies 
 Under the Indenture, Events of Default include (a) default for 30 days in payment of interest on the Notes; (b) default in payment of
principal on the Notes when due; (c) failure by the Company or any Guarantor to comply with other agreements in the Indenture or the Notes, in certain cases subject to notice and lapse of time; (d) certain accelerations of other
Indebtedness of the Company if the amount accelerated (or so unpaid) exceeds $30.0 million; (e) certain events of bankruptcy or insolvency with respect to the Company and any Restricted Subsidiaries; (f) certain judgments or decrees
for the payment of money in excess of $30.0 million; and (g) certain defaults with respect to Guarantees. If an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Notes may
declare all the Notes to be due and payable immediately. Certain events of bankruptcy or insolvency are Events of Default which will result in the Notes being due and payable immediately upon the occurrence of such Events of Default. 
 Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Notes
unless it receives indemnity or security satisfactory to it. Subject to certain limitations, Holders of a majority in principal amount of the Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders
notice of any continuing Default (except a Default in payment of principal or interest) if it determines that withholding notice is in the interest of the Holders. 
 13. Trustee Dealings with the Company 
 Subject to certain limitations imposed by the TIA, the Trustee under the Indenture,
in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its Affiliates with the same
rights it would have if it were not Trustee. 
 14. No Recourse Against Others 
 A director, officer, employee or stockholder, as such, of the Company or the Trustee shall not have any liability for any obligations of the Company under
the Notes or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each Holder waives and releases all such liability. The waiver and release are part of the consideration for
the issue of the Notes. 
 15. Authentication 
 This Note shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) signs the certificate of authentication on the other side of this Note. 

 16. Abbreviations 
 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 entireties), 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). 
 17. CUSIP Numbers 
 Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures the Company has caused CUSIP numbers to be printed
on the Notes and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of
redemption and reliance may be placed only on the other identification numbers placed thereon. 
 18. Governing Law 
 THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS NOTE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF
LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 
  

 The Company will furnish to any Holder upon written request and without charge to the Holder a copy of the Indenture. Requests may be made to:

 Pilgrim’s Pride Corporation 
 4845 U.S. Highway 271 North 
 Pittsburg, Texas 75686 
 Attention: Corporate Secretary 
 * * * * * 

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 I or we assign and transfer this Note to 
 (Print or type assignee’s name, address and zip code) 
 (Insert assignee’s soc. sec. or tax I.D. No.) 
 and irrevocably appoint
                     agent to transfer this Note on the books of the Company. The agent may substitute another to act for him. 
  

					
	  

			
	Date:                    	 	Your Signature:	  	  

  
  

 Sign exactly as your name appears on the other side of this Note. 
  

	
	  

	Signature

 Signature Guarantee: 
  

					
	  
	 		  	  

	Signature must be guaranteed	 		  	Signature

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

 [TO BE ATTACHED TO GLOBAL SECURITIES] 
 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 
 The following increases or decreases
in this Global Note have been made: 
  

									
	 Date of
 Exchange
	  	 Amount of
 decrease in
 Principal
 amount of this
 Global
Note
	  	 Amount of
 increase in
 Principal
 amount of this
 Global
Note
	  	 Principal
 amount of this
 Global Note
 following such
 decrease
or
 increase
	  	 Signature of
 authorized
 officer of
 Trustee or
 Securities

Custodian

 OPTION OF HOLDER TO ELECT PURCHASE 
 If you want to elect to have this Note purchased by the Company pursuant to Section 5.12 or 5.16 of the Indenture, check the box: 
  

					
	 	 	  	 	 

 If you want to elect to have only part of this Note purchased by the Company pursuant to
Section 5.12 or 5.16 of the Indenture, state the amount in principal amount: $              
  

					
	Dated:                     	  	Your Signature:	 	  

		  	(Sign exactly as your name appears on the other side of this
Note.)                    

  

			
	Signature Guarantee:	 	  

		 	                                        
                     (Signature must be guaranteed)

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

 EXHIBIT B 
 FORM OF NOTATION OF GUARANTEE 
 For value received, each Guarantor (which term includes any successor Person under
the Indenture), jointly and severally, unconditionally guarantees, to the extent set forth in the Indenture and subject to the provisions in the Indenture, dated as of January 24, 2007, as amended and supplemented by the First Supplemental
Indenture, date as of January 24, 2007, (the “Indenture”), between Pilgrim’s Pride Corporation, as issuer (the “Company”), and Wells Fargo Bank, National Association, as trustee (the
“Trustee”), (a) the due and punctual payment of the principal of, premium, if any, and interest on the Notes, whether at maturity, by acceleration, redemption or otherwise, the due and punctual payment of interest on
overdue principal and premium, if any, and, to the extent permitted by law, interest, and the due and punctual performance of all other obligations of the Company to the Holders or the Trustee all in accordance with the terms of the Indenture and
(b) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at
stated maturity, by acceleration or otherwise. The obligations of the Guarantors to the Holders of Notes and to the Trustee pursuant to the Subsidiary Guarantee and the Indenture are expressly set forth in Article 10 of the Indenture and reference
is hereby made to the Indenture for the precise terms of the Subsidiary Guarantee. This Subsidiary Guarantee is subject to release as and to the extent set forth in Sections 8.02, 8.03 and 10.05 of the Indenture. Each Holder of a Note, by accepting
the same agrees to and shall be bound by such provisions. Capitalized terms used herein and not defined are used herein as so defined in the Indenture. 
 [GUARANTOR] 
  

			
	By:	 	  

	Name:	 	
	Title:Senior Subordinated Debt Securities Indenture

 Exhibit 4.4 
 PILGRIM’S PRIDE CORPORATION 
 AND 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 
 TRUSTEE 
  

 INDENTURE 
 DATED AS OF 
 JANUARY 24, 2007 
 SENIOR SUBORDINATED DEBT SECURITIES 

 PILGRIM’S PRIDE CORPORATION 
 RECONCILIATION AND TIE BETWEEN TRUST INDENTURE ACT OF 1939 
 AND INDENTURE, DATED AS OF
JANUARY 24, 2007 
  

					
	 Section of
 Trust
Indenture
 ACT OF 1939
	  	 Section(s) of
 INDENTURE

	ss. 310	 	(a) (1)	  	609
		 	(a) (2)	  	609
		 	(a) (3)	  	Not Applicable
		 	(a) (4)	  	Not Applicable
		 	(b)	  	608, 610
	ss. 311	 	(a)	  	613
		 	(b)	  	613
		 	(c)	  	Not Applicable
	ss. 312	 	(a)	  	701, 702 (a)
		 	(b)	  	702 (b)
		 	(c)	  	702 (b)
	ss. 313	 	(a)	  	703 (a)
		 	(b)	  	703 (a)
		 	(c)	  	703 (a)
		 	(d)	  	703 (b)
	ss. 314	 	(a)	  	704, 1005
		 	(b)	  	Not Applicable
		 	(c) (1)	  	103
		 	(c) (2)	  	103
		 	(c) (3)	  	Not Applicable
		 	(d)	  	Not Applicable
		 	(e)	  	103
	ss. 315	 	(a)	  	601 (a)
		 	(b)	  	602
		 	(c)	  	601 (b)
		 	(d)	  	601 (c)
		 	(d) (1)	  	601 (c) (1)
		 	(d) (2)	  	601 (c) (2)
		 	(d) (3)	  	601 (c) (3)
		 	(e)	  	514
	ss. 316	 	(a) (1) (A)	  	502, 512
		 	(a) (1) (B)	  	513
		 	(a) (2)	  	Not Applicable
		 	(a) (last sentence)	  	101
		 	(b)	  	508
	ss. 317	 	(a) (1)	  	503
		 	(a) (2)	  	504
		 	(b)	  	1003
	ss. 318	 	(a)	  	108

	Note:	This reconciliation and tie shall not, for any purpose, be deemed to be a part of the Indenture. 

  

 2 

 TABLE OF CONTENTS 
  

			
	 	  	Page
	INDENTURE	  	1
		
	 RECITALS OF THE COMPANY
	  	1
	
	ARTICLE ONE
	
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
		
	 SECTION 101. DEFINITIONS
	  	1
		
	 Act
	  	2
		
	 Additional Amounts
	  	2
		
	 Affiliate
	  	2
		
	 Authenticating Agent
	  	2
		
	 Authorized Newspaper
	  	2
		
	 Board of Directors
	  	2
		
	 Board Resolution
	  	2
		
	 Book-Entry Security
	  	2
		
	 Business Day
	  	2
		
	 Capital Lease Obligation
	  	3
		
	 Capital Stock
	  	3
		
	 Commission
	  	3
		
	 Company
	  	3
		
	 Company Request
	  	3
		
	 Conversion Event
	  	3
		
	 Corporate Trust Office
	  	3
		
	 Default
	  	3
		
	 Defaulted Interest
	  	4
		
	 Depositary
	  	4
		
	 Dollar
	  	4
		
	 Event of Default
	  	4
		
	 Exchange Rate
	  	4
		
	 Holder
	  	4

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

			
	 	  	Page
	 Indebtedness
	  	4
		
	 Indenture
	  	5
		
	 interest
	  	5
		
	 Interest Payment Date
	  	5
		
	 Interest Protection Agreement
	  	5
		
	 Lien
	  	5
		
	 Maturity
	  	6
		
	 Officers’ Certificate
	  	6
		
	 Opinion of Counsel
	  	6
		
	 Original Issue Discount Security
	  	6
		
	 Outstanding
	  	6
		
	 Paying Agent
	  	7
		
	 Person
	  	7
		
	 Place of Payment
	  	7
		
	 Predecessor Security
	  	7
		
	 Redemption Date
	  	7
		
	 Redemption Price
	  	7
		
	 Registered Security
	  	7
		
	 Regular Record Date
	  	8
		
	 Responsible Officer
	  	8
		
	 Securities
	  	8
		
	 Security Register
	  	8
		
	 Senior Indebtedness
	  	8
		
	 Special Record Date
	  	8
		
	 Stated Maturity
	  	8
		
	 Subsidiary
	  	9
		
	 Trustee
	  	9
		
	 Trust Indenture Act
	  	9
		
	 United States
	  	9
		
	 United States Alien
	  	9

  

 -ii- 

 TABLE OF CONTENTS 
 (continued) 
  

			
	 	  	Page
	 U.S. Government Obligations
	  	9
		
	 Vice President
	  	9
		
	 Wholly-Owned Subsidiary
	  	9
		
	 Yield to Maturity
	  	10
		
	 SECTION 102. INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT
	  	10
		
	 SECTION 103. COMPLIANCE CERTIFICATES AND OPINIONS
	  	10
		
	 SECTION 104. FORM OF DOCUMENTS DELIVERED TO TRUSTEE
	  	11
		
	 SECTION 105. ACTS OF HOLDERS; RECORD DATES
	  	11
		
	 SECTION 106. NOTICES, ETC., TO TRUSTEE AND COMPANY
	  	12
		
	 SECTION 107. NOTICE TO HOLDERS; WAIVER
	  	13
		
	 SECTION 108. CONFLICT WITH TRUST INDENTURE ACT
	  	14
		
	 SECTION 109. EFFECT OF HEADINGS AND TABLE OF CONTENTS
	  	14
		
	 SECTION 110. SUCCESSORS AND ASSIGNS
	  	14
		
	 SECTION 111. SEPARABILITY CLAUSE
	  	14
		
	 SECTION 112. BENEFITS OF INDENTURE
	  	14
		
	 SECTION 113. GOVERNING LAW
	  	14
		
	 SECTION 114. LEGAL HOLIDAYS
	  	15
		
	 SECTION 115. CORPORATE OBLIGATION
	  	15
	
	ARTICLE TWO
	
	SECURITY FORMS
		
	 SECTION 201. FORMS GENERALLY
	  	15
		
	 SECTION 202. FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	  	16
		
	 SECTION 203. SECURITIES IN GLOBAL FORM
	  	16
		
	 SECTION 204. BOOK-ENTRY SECURITIES
	  	17

  

 -iii- 

 TABLE OF CONTENTS 
 (continued) 
  

			
	 	  	Page
	ARTICLE THREE
	
	THE SECURITIES
		
	 SECTION 301. AMOUNT UNLIMITED; ISSUABLE IN SERIES
	  	19
		
	 SECTION 302. DENOMINATIONS
	  	21
		
	 SECTION 303. EXECUTION, AUTHENTICATION, DELIVERY AND DATING
	  	22
		
	 SECTION 304. TEMPORARY SECURITIES
	  	23
		
	 SECTION 305. REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE
	  	24
		
	 SECTION 306. MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES
	  	25
		
	 SECTION 307. PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED
	  	26
		
	 SECTION 308. PERSONS DEEMED OWNERS
	  	27
		
	 SECTION 309. CANCELLATION
	  	27
		
	 SECTION 310. COMPUTATION OF INTEREST
	  	28
		
	 SECTION 311. CUSIP NUMBERS
	  	28
	
	ARTICLE FOUR
	
	SATISFACTION AND DISCHARGE; LEGAL DEFEASANCE
	
	AND COVENANT DEFEASANCE
		
	 SECTION 401. SATISFACTION AND DISCHARGE OF INDENTURE
	  	28
		
	 SECTION 402. OPTION TO EFFECT LEGAL DEFEASANCE OR COVENANT DEFEASANCE
	  	30
		
	 SECTION 403. LEGAL DEFEASANCE AND DISCHARGE
	  	30
		
	 SECTION 404. COVENANT DEFEASANCE
	  	30
		
	 SECTION 405. CONDITIONS TO LEGAL OR COVENANT DEFEASANCE
	  	31
		
	 SECTION 406. DEPOSITED MONEY AND U.S. GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST; OTHER MISCELLANEOUS PROVISIONS
	  	32
		
	 SECTION 407. REPAYMENT TO COMPANY
	  	32
		
	 SECTION 408. REINSTATEMENT
	  	33
	
	ARTICLE FIVE
	
	REMEDIES
		
	 SECTION 501. EVENTS OF DEFAULT
	  	33

  

 -iv- 

 TABLE OF CONTENTS 
 (continued) 
  

			
	 	  	Page
	 SECTION 502. ACCELERATION
	  	35
		
	 SECTION 503. OTHER REMEDIES
	  	36
		
	 SECTION 504. WAIVER OF PAST DEFAULTS
	  	36
		
	 SECTION 505. CONTROL BY MAJORITY
	  	36
		
	 SECTION 506. LIMITATION ON SUITS
	  	36
		
	 SECTION 507. RIGHTS OF HOLDERS OF SECURITIES TO RECEIVE PAYMENT
	  	37
		
	 SECTION 508. COLLECTION SUIT BY TRUSTEE
	  	37
		
	 SECTION 509. TRUSTEE MAY FILE PROOFS OF CLAIM
	  	37
		
	 SECTION 510. PRIORITIES
	  	38
		
	 SECTION 511. UNDERTAKING FOR COSTS
	  	38
	
	ARTICLE SIX
	
	THE TRUSTEE
		
	 SECTION 601. CERTAIN DUTIES AND RESPONSIBILITIES
	  	39
		
	 SECTION 602. NOTICE OF DEFAULTS
	  	40
		
	 SECTION 603. CERTAIN RIGHTS OF TRUSTEE
	  	40
		
	 SECTION 604. NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES
	  	41
		
	 SECTION 605. MAY HOLD SECURITIES
	  	41
		
	 SECTION 606. MONEY HELD IN TRUST
	  	42
		
	 SECTION 607. COMPENSATION AND REIMBURSEMENT
	  	42
		
	 SECTION 608. DISQUALIFICATION; CONFLICTING INTERESTS
	  	43
		
	 SECTION 609. CORPORATE TRUSTEE REQUIRED; ELIGIBILITY
	  	43
		
	 SECTION 610. RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR
	  	44
		
	 SECTION 611. ACCEPTANCE OF APPOINTMENT BY SUCCESSOR
	  	45
		
	 SECTION 612. MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS
	  	46
		
	 SECTION 613. PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY
	  	46
		
	 SECTION 614. APPOINTMENT OF AUTHENTICATING AGENT
	  	46

  

 -v- 

 TABLE OF CONTENTS 
 (continued) 
  

			
	 	  	Page
	ARTICLE SEVEN
	
	HOLDER’S LISTS AND REPORTS BY TRUSTEE AND COMPANY
		
	 SECTION 701. COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS
	  	48
		
	 SECTION 702. PRESERVATION OF INFORMATION; COMMUNICATIONS TO HOLDERS
	  	49
		
	 SECTION 703. REPORTS BY TRUSTEE
	  	49
		
	 SECTION 704. REPORTS BY COMPANY
	  	49
	
	ARTICLE EIGHT
	
	 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

		
	 SECTION 801. COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS
	  	50
		
	 SECTION 802. SUCCESSOR PERSON SUBSTITUTED
	  	50
	
	ARTICLE NINE
	
	SUPPLEMENTAL INDENTURES
		
	 SECTION 901. WITHOUT CONSENT OF HOLDERS
	  	51
		
	 SECTION 902. WITH CONSENT OF HOLDERS
	  	52
		
	 SECTION 903. COMPLIANCE WITH TRUST INDENTURE ACT
	  	53
		
	 SECTION 904. REVOCATION AND EFFECT OF CONSENTS
	  	53
		
	 SECTION 905. NOTATION ON OR EXCHANGE OF SECURITIES
	  	54
		
	 SECTION 906. TRUSTEE TO SIGN AMENDMENTS, ETC.
	  	54

  

 -vi- 

 TABLE OF CONTENTS 
 (continued) 
  

			
	 	  	Page
	ARTICLE TEN
	
	COVENANTS
		
	 SECTION 1001. PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST
	  	54
		
	 SECTION 1002. MAINTENANCE OF OFFICE OR AGENCY
	  	54
		
	 SECTION 1003. MONEY FOR SECURITIES PAYMENTS TO BE HELD IN TRUST
	  	55
		
	 SECTION 1004. EXISTENCE
	  	56
		
	 SECTION 1005. STATEMENT BY OFFICERS AS TO DEFAULT
	  	56
		
	 SECTION 1006. WAIVER OF CERTAIN COVENANTS
	  	57
		
	 SECTION 1007. ADDITIONAL AMOUNTS
	  	57
		
	 SECTION 1008. LIMITATION ON SENIOR SUBORDINATED INDEBTEDNESS
	  	58
	
	ARTICLE ELEVEN
	
	REDEMPTION OF SECURITIES
		
	 SECTION 1101. APPLICABILITY OF ARTICLE
	  	58
		
	 SECTION 1102. ELECTION TO REDEEM; NOTICE TO TRUSTEE
	  	58
		
	 SECTION 1103. SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED
	  	58
		
	 SECTION 1104. NOTICE OF REDEMPTION
	  	59
		
	 SECTION 1105. DEPOSIT OF REDEMPTION PRICE
	  	59
		
	 SECTION 1106. SECURITIES PAYABLE ON REDEMPTION DATE
	  	59
		
	 SECTION 1107. SECURITIES REDEEMED IN PART
	  	60
		
	 SECTION 1108. PURCHASE OF SECURITIES
	  	60
	
	ARTICLE TWELVE
	
	SINKING FUNDS
		
	 SECTION 1201. APPLICABILITY OF ARTICLE
	  	60
		
	 SECTION 1202. SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES
	  	61

  

 -vii- 

 TABLE OF CONTENTS 
 (continued) 
  

			
	 	  	Page
	 SECTION 1203. REDEMPTION OF SECURITIES FOR SINKING FUND
	  	61
	
	ARTICLE THIRTEEN
	
	MEETINGS OF HOLDERS OF SECURITIES
		
	 SECTION 1301. PURPOSES FOR WHICH MEETINGS MAY BE CALLED
	  	61
		
	 SECTION 1302. CALL, NOTICE AND PLACE OF MEETINGS
	  	62
		
	 SECTION 1303. PERSONS ENTITLED TO VOTE AT MEETINGS
	  	62
		
	 SECTION 1304. QUORUM; ACTION
	  	62
		
	 SECTION 1305. DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF MEETINGS
	  	63
		
	 SECTION 1306. COUNTING VOTES AND RECORDING ACTION OF MEETINGS
	  	64
	
	ARTICLE FOURTEEN
	
	SUBORDINATION
		
	 SECTION 1401. AGREEMENT TO SUBORDINATE
	  	64
		
	 SECTION 1402. LIQUIDATION, DISSOLUTION, BANKRUPTCY
	  	64
		
	 SECTION 1403. DEFAULT ON SENIOR INDEBTEDNESS
	  	65
		
	 SECTION 1404. WHEN DISTRIBUTION MUST BE PAID OVER
	  	65
		
	 SECTION 1405. SUBROGATION
	  	65
		
	 SECTION 1406. RELATIVE RIGHTS
	  	65
		
	 SECTION 1407. SUBORDINATION MAY NOT BE IMPAIRED BY COMPANY
	  	66
		
	 SECTION 1408. RIGHTS OF TRUSTEE AND PAYING AGENT
	  	66
		
	 SECTION 1409. DISTRIBUTION OR NOTICE TO REPRESENTATIVE
	  	66
		
	 SECTION 1410. ARTICLE XIV NOT TO PREVENT EVENTS OF DEFAULT OR LIMIT RIGHT TO ACCELERATE
	  	66
		
	 SECTION 1411. TRUST MONEYS NOT SUBORDINATED
	  	67
		
	 SECTION 1412. TRUSTEE ENTITLED TO RELY
	  	67
		
	 SECTION 1413. TRUSTEE TO EFFECTUATE SUBORDINATION
	  	67

  

 -viii- 

 TABLE OF CONTENTS 
 (continued) 
  

			
	 	  	Page
	 SECTION 1414. TRUSTEE NOT FIDUCIARY FOR HOLDERS OF SENIOR INDEBTEDNESS
	  	67
		
	 SECTION 1415. RELIANCE BY HOLDERS OF SENIOR INDEBTEDNESS ON SUBORDINATION PROVISIONS
	  	68
		
	 SECTION 1416. ADDITIONAL SUBORDINATION TERMS
	  	68

  

 -ix- 

 INDENTURE 
 THIS Indenture, dated as of January 24, 2007 between Pilgrim’s Pride Corporation, a corporation duly organized and existing under the laws of the State of Delaware (herein called the “Company”),
having its principal office at 4845 US Highway 271 North, Pittsburg, Texas 75686-0093, and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee”), the office of the Trustee at which at the date hereof its
corporate trust business is principally administered being 1445 Ross Avenue, 2nd Floor, Dallas, Texas 75202-2812. 
 RECITALS OF THE
COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of
its unsecured debentures, notes or other evidences of indebtedness (herein called the “Securities”), to be issued in one or more series as in this Indenture provided. 
 This Indenture is subject to the provisions of the Trust Indenture Act and the rules and regulations of the Commission promulgated thereunder that are
required to be part of this Indenture and, to the extent applicable, shall be governed by such provisions. 
 All things necessary to make
this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
 NOW, THEREFORE, THIS INDENTURE
WITNESSETH: 
 For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually
covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or of series thereof, as follows: 
 ARTICLE ONE 
 DEFINITIONS AND OTHER PROVISIONS 
 OF GENERAL APPLICATION 
 SECTION 101. DEFINITIONS. 
 For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular;

 (2) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally
accepted accounting principles in the United States, and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such
accounting principles as are generally accepted in the United States at the date of such computation; and 

 (3) the words “herein,” “hereof” and “hereunder” and other
words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 
 Certain terms,
used principally in Article VI, are defined in Section 102. 
 “Act,” when used with respect to any Holder, has the meaning
specified in Section 105. 
 “Additional Amounts” means any additional amounts that are required by the express terms of a
Security or by or pursuant to a Board Resolution, under circumstances specified therein or pursuant thereto, to be paid by the Company with respect to certain taxes, assessments or other governmental charges imposed on certain Holders and that are
owing to such Holders. 
 “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. 
 “Authenticating Agent” means any Person authorized by the Trustee to act on behalf of the Trustee pursuant to Section 614 to authenticate
Securities of one or more series. 
 “Authorized Newspaper” means a newspaper, in the English language or in an official language
of the country of publication, customarily published on each Business Day, whether or not published on Saturdays, Sundays or holidays, and of general circulation in the place in connection with which the term is used or in the financial community of
such place. Where successive publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different newspapers in the same city meeting the foregoing requirements and in each case on any
Business Day. 
 “Board of Directors” means either the board of directors of the Company or any duly authorized committee of that
board. 
 “Board Resolution” 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. 
 “Book-Entry Security” has the meaning specified in Section 204. 
 “Business Day,”
when used with respect to any Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in that Place of Payment or the city in which the Corporate Trust Office is located are
authorized or obligated by law or executive order to close. 
  

 2 

 “Capital Lease Obligation” means, at the time any determination thereof is to be made, the
amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP. 
 “Capital Stock,” means: 
 (i) in the case of a corporation, corporate stock;

 (ii) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 
 (iii) in the case of a partnership or limited liability company,
partnership or membership interests (whether general or limited); and 
 (iv) any other interest or participation that confers
on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 
 “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Securities Exchange Act of 1934, as amended, or, if at any time after the execution of this instrument such Commission
is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 
 “Company” means the Person named as the “Company” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter
“Company” shall mean such successor Person. 
 “Company Request” and “Company Order” mean, respectively, a
written request or order signed in the name of the Company by its Chairman of the Board, its President or a Vice President, and by its Treasurer, an Assistant Treasurer, its Controller, an Assistant Controller, its Secretary or an Assistant
Secretary, and delivered to the Trustee. 
 “Conversion Event” has the meaning specified in Section 501. 
 “Corporate Trust Office” means the 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 that indicated in the introductory paragraph of this Indenture. 
 “Currency
Agreement” means any foreign exchange contract, currency swap agreement, futures contract, option contract, synthetic cap or other similar agreement or arrangement to which the Company or any of its Subsidiaries is a party. 
 “Default” means any event, act or condition that is, or after notice or the passage of time or both would be, an Event of Default. 

“Defaulted Interest” has the meaning specified in Section 307. 
  

 3 

 “Depositary” means, with respect to the Securities of any series issuable or issued in the form
of a global Security, the Person designated as Depositary by the Company pursuant to Section 301 until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Depositary”
shall mean or include each Person who is then a Depositary hereunder, and if at any time there is more than one such person, “Depositary” as used with respect to the Securities of any series shall mean the Depositary with respect to the
Securities of that series. 
 “Dollar“ or “$” means a dollar or other equivalent unit in such coin or currency of the
United States as at the time shall be legal tender for the payment of public and private debts. 
 “Event of Default” has the
meaning specified in Section 501. 
 “Exchange Rate” has the meaning specified in Section 302. 
 “Hedging Obligations” means, with respect to any specified Person, the obligations of such Person under: 
 (1) interest rate swap agreements, interest rate cap agreements and interest rate collar agreements and other agreements or arrangements
designed to protect such Person against fluctuations in interest rates; 
 (2) any foreign exchange contract, currency swap
agreement or other similar agreement or arrangement designed to protect such Person against fluctuations in currency values; and 
 (3) any commodity futures or option contract or other similar commodity hedging contract designed to protect such person against fluctuations in commodity prices. 
 “Holder,” when used with respect to any Security, means the Person in whose name the Security is registered in the Security Register.

 “Indebtedness” means, with respect to any specified Person, any indebtedness of such Person, whether or not contingent, in
respect of: 
 (1) borrowed money; 
 (2) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof)
(other than obligations with respect to letters of credit securing obligations (other than obligations described in clause (1), (2) and (4) of this definition) entered into in the ordinary course of business of such Person to the extent
that such letters of credit are not drawn upon); 
 (3) banker’s acceptances; 
 (4) any Capital Lease Obligations; 
  

 4 

 (5) the balance deferred and unpaid of the purchase price of any property, except any
such balance that constitutes an accrued expense or trade payable incurred in the ordinary course of business; or 
 (6) any
Hedging Obligations, 
 if and to the extent any of the preceding items (other than letters of credit and Hedging Obligations) would appear
as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not
such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the Guarantee by the specified Person of any indebtedness of any other Person. 
 The amount of any Indebtedness outstanding as of any date shall be: 
 (1) the accreted value thereof, in the case of any Indebtedness issued with original issue discount; and 
 (2) the principal amount thereof, together with any interest thereon that is more than 30 days past due, in the case of any other
Indebtedness. 
 “Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended
by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of particular series of Securities established as contemplated by Section 301 and the provisions of the Trust
Indenture Act that are deemed to be a part of and govern this instrument. 
 “interest,” when used with respect to an Original
Issue Discount Security that by its terms bears interest only after Maturity, means interest payable after Maturity. 
 “Interest
Payment Date,” when used with respect to any Security, means the Stated Maturity of an installment of interest on such Security. 
 “Interest Protection Agreement” shall mean, for any Person, an interest rate swap, cap or collar agreement or similar arrangement between such Person and one or more financial institutions providing for the transfer or mitigation
of interest risks either generally or under specific contingencies. For purposes hereof, the “credit exposure” at any time of any Person under an Interest Rate Protection Agreement to which such Person is a party shall be determined at
such time in accordance with the standard methods of calculating credit exposure under similar arrangements as prescribed from time to time by the Trustee, taking into account potential interest rate movements and the respective termination
provisions and notional principal amount and term of such Interest Rate Protection Agreement. 
 “Lien” means, with respect to any
asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention
agreement, any capital lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any
jurisdiction. 
  

 5 

 “Maturity,” when used with respect to any Security, means the date on which the principal of
such Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 
 “Officers’ Certificate” means a certificate signed by the Chairman of the Board, the President or a Vice President, and by the Treasurer,
the Controller, the Secretary or an Assistant Treasurer, Assistant Controller or Assistant Secretary, of the Company, and delivered to the Trustee, which certificate shall be in compliance with Section 103 hereof. 
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for or an employee of the Company, rendered, if applicable, in
accordance with Section 314(c) of the Trust Indenture Act, which opinion shall be in compliance with Section 103 hereof. 
 “Original Issue Discount Security” means any Security that provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to
Section 502. 
 “Outstanding” when used with respect to Securities, means, as of the date of determination, all Securities
theretofore authenticated and delivered under this Indenture, EXCEPT: 
 (i) Securities theretofore cancelled by the Trustee
or delivered to the Trustee for cancellation; 
 (ii) Securities for whose payment or redemption money in the necessary amount
has been theretofore irrevocably deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such
Securities; PROVIDED that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; and 
 (iii) Securities that have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have been
authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands
such Securities are valid obligations of the Company; 
 PROVIDED, HOWEVER, that in determining whether the Holders of the requisite principal amount of the
Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, or whether a quorum is present at a meeting of Holders of Securities, (a) the principal amount of an Original Issue Discount
Security that shall be deemed to be Outstanding for such purposes shall be the principal amount thereof that would be due and payable as of the date of such determination upon acceleration of the Maturity thereof pursuant 

  

 6 

 
to Section 502, (b) the principal amount of a Security denominated in a foreign currency shall be the U.S. Dollar equivalent, determined by
the Company on the date of original issuance of such Security, of the principal amount (or, in the case of an Original Issue Discount Security, the U.S. Dollar equivalent, determined on the date of original issuance of such Security, of the
amount determined as provided in (a) above), of such Security and (c) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to
be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver or upon any such determination as to the presence of a quorum, only
Securities which the Trustee knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s
right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 
 “Paying Agent” means any Person, which may include the Company, authorized by the Company to pay the principal of (and premium, if any) or
interest on any one or more series of Securities on behalf of the Company. 
 “Person” means any individual, corporation,
partnership, limited liability company, joint venture, incorporated or unincorporated association, joint stock company, trust, unincorporated organization or government or other agency or political subdivision thereof or other entity of any kind.

 “Place of Payment” when used with respect to the Securities of any series, means the place or places where the principal of (and
premium, if any) and interest on the Securities of that series are payable as specified in accordance with Section 301 subject to the provisions of Section 1002. 
 “Post-Petition Interest ” means any interest that accrues after the commencement of any case, proceeding or other action relating to the
bankruptcy, insolvency or reorganization of the Company (or would accrue but for the operation of applicable bankruptcy or insolvency laws), whether or not such interest is allowed or allowable as a claim in any such proceeding. 
 “Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced
by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same
debt as the mutilated, destroyed, lost or stolen Security. 
 “Redemption Date” when used with respect to any Security to be
redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption Price” when used with respect
to any Security to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture. 
 “Registered Security”
means any Security in the form established pursuant to Section 201 which is registered in the Security Register. 
  

 7 

 “Regular Record Date” for the interest payable on any Interest Payment Date on the Registered
Securities of any series means the date specified for that purpose as contemplated by Section 301, or, if not so specified, the last day of the calendar month preceding such Interest Payment Date if such Interest Payment Date is the fifteenth
day of the calendar month or the fifteenth day of the calendar month preceding such Interest Payment Date if such Interest Payment Date is the first day of a calendar month, whether or not such day shall be a Business Day. 
 “Representative” means the trustee, agent or representative expressly authorized to act in such capacity, if any, for an issue of Senior
Indebtedness. 
 “Responsible Officer” when used with respect to the Trustee, means any officer of the Trustee with direct
responsibility for the administration of the Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject.

 “Securities” has the meaning stated in the first recital of this Indenture and more particularly means any Securities
authenticated and delivered under this Indenture. 
 “Security Register” and “Security Registrar” have the respective
meanings specified in Section 305. 
 “Senior Indebtedness” means, at any date, (a) all Indebtedness of the Company for
borrowed money, including principal, premium, if any, and interest (including Post-Petition Interest) on such Indebtedness, unless the instrument under which such Indebtedness of the Company for money borrowed is incurred expressly provides that
such Indebtedness for money borrowed is not senior or superior in right of payment to the Securities of the applicable series, and all renewals, extensions, modifications, amendments or refinancings thereof; (b) all obligations of the Company
under Interest Protection Agreements, and (c) all obligations of the Company under Currency Agreements. Notwithstanding the foregoing, Senior Indebtedness shall not include (a) to the extent that it may constitute Indebtedness, any
obligation for federal, state, local or other taxes; (b) any Indebtedness between the Company and any Subsidiary of the Company; (c) to the extent that it may constitute Indebtedness, any obligation in respect of any trade payable incurred
for the purchase of goods or materials, or for services obtained, in the ordinary course of business; (d) that portion of any Indebtedness that is incurred in violation of this Indenture; (e) Indebtedness evidenced by the Securities;
(f) Indebtedness of the Company that is expressly subordinate or junior in right of payment to any other Indebtedness of the Company; (g) to the extent that it may constitute Indebtedness, any obligation owing under leases (other than
Capital Lease Obligations); and (h) any obligation that by operation of law is subordinate to any general unsecured obligations of the Company. 
 “Special Record Date” for the payment of any Defaulted Interest on the Registered Securities of any series means a date fixed by the Trustee pursuant to Section 307. 
 “Stated Maturity” when used with respect to any Security or any installment of principal thereof or interest thereon, means the date specified
in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 
  

 8 

 “Subsidiary” means, with respect to any specified Person: 
 (i) any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock
entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of
that Person (or a combination thereof); and 
 (ii) any partnership (a) the sole general partner or the managing general
partner of which is such Person or a Subsidiary of such Person or (b) the only general partners of which are such Person or one or more Subsidiaries of such Person (or any combination thereof). 
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have
become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, “Trustee” as
used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 
 “Trust Indenture
Act” means the Trust Indenture Act of 1939 as in force at the date as of which this instrument was executed, except as provided in Section 903. 
 “United States” means the United States of America (including the States and the District of Columbia) and its “possessions,” which include Puerto Rico, the U.S. Virgin Islands, Guam, American
Samoa, Wake Island and the Northern Mariana Islands. 
 “United States Alien” means any Person who, for United States federal
income tax purposes, is a foreign corporation, a nonresident alien individual, a nonresident alien or foreign fiduciary of an estate or trust, or a foreign partnership. 
 “U.S. Government Obligations” means direct noncallable obligations of, or noncallable obligations the payment of principal of and interest on which is guaranteed by, the United States of America, or to the
payment of which obligations or guarantees the full faith and credit of the United States of America is pledged, or beneficial interests in a trust the corpus of which consists exclusively of money or such obligations or a combination thereof.

 “Vice President” when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a
number or a word or words added before or after the title “vice president”. 
 “Wholly-Owned Subsidiary” of any specified
Person means a Subsidiary of such Person all of the outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying shares and shares issued to other Persons to comply with local law that collectively do not
constitute more than 5% of all of the Capital Stock ordinarily having the power to vote for the election of directors of such Subsidiary) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries of such Person and one or
more Wholly Owned Subsidiaries of such Person. 
  

 9 

 “Yield to Maturity” when used with respect to any Original Issue Discount Security, means the
yield to maturity, if any, set forth on the face thereof. 
 SECTION 102. INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT. 
 Whenever this Indenture refers to a provision of the Trust Indenture Act, the provision is incorporated by reference in and made a part of this Indenture.
The following Trust Indenture Act terms used in this Indenture have the following meanings: 
 “Bankruptcy Act” means the Bankruptcy
Act or Title 11 of the United States Code, as amended. 
 “indenture securities” means the Securities. 
 “indenture securityholder” means a Holder. 
 “indenture to be qualified” means this Indenture. 
 “indenture trustee” or
“institutional trustee” means the Trustee. 
 “obligor” on the indenture securities means the Company or any other
obligor on the Securities. 
 All 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 under the Trust Indenture Act and not otherwise defined herein have the meanings assigned to them therein. 
 SECTION 103. COMPLIANCE CERTIFICATES AND OPINIONS. 
 Except as otherwise expressly provided by 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 Officers’ Certificate stating that all conditions precedent, if any
(including any covenants the compliance with which constitutes a condition precedent), 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 (including any covenants the compliance with which constitutes a condition precedent), 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. 
 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include 
 (1) a statement that each Person signing such certificate or opinion has read such covenant or condition and the definitions herein
relating thereto; 
  

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 (2) 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; 
 (3) a statement that, in the opinion
of each such Person, such Person has made such examination or investigation as is necessary to enable such Person to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (4) a statement as to whether or not, in the opinion of each such Person, such condition or covenant has been complied with. 

SECTION 104. FORM OF DOCUMENTS DELIVERED TO TRUSTEE. 
 In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that
they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to
such matters in one or several documents. 
 Any certificate or opinion of an officer of the Company may be based, insofar as it relates to
legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which
his certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company
stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to
such matters are erroneous. 
 Where any Person is required to make, give or execute two or more applications, requests, consents,
certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 SECTION
105. ACTS OF HOLDERS; RECORD DATES. 
 (1) Any request, demand, authorization, direction, notice, consent, waiver or other action provided
by this Indenture to be 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. Except as herein otherwise
expressly provided, such action shall become effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments and any such record
(and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments and so voting at any such meeting. Proof of execution of any such instrument or of
a writing appointing any such agent, or the holding of any Person of a Security, shall be sufficient 

  

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for any purpose of this Indenture and (subject to Section 601) conclusive in favor of the Trustee and the Company, if made in the manner provided in
this Section. The record of any meeting of Holders of Securities shall be proved in the manner provided in Section 1306. 
 The Company
may set in advance a record date for purposes of determining the identity of Holders of Registered Securities entitled to vote or consent to any action by vote or consent authorized or permitted under this Indenture. If not set by the Company prior
to the first solicitation of a Holder of Registered Securities of such series made by any Person in respect of any such action, or in the case of any such vote, prior to such vote, the record date for any such action or vote shall be the later of 30
days prior to such first solicitation of such consent or the date of the most recent list of Holders furnished to the Trustee prior to such solicitation. If a record date is fixed, those Persons who were Holders of Outstanding Registered Securities
at such record date (or their duly designated proxies), and only those Persons, shall be entitled with respect to such Securities to take such action by vote or consent or to revoke any vote or consent previously given, whether or not such Persons
continue to be Holders after such record date. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice thereof to be given to the Trustee in writing in the manner provided in
Section 106 and to the relevant Holders as set forth in Section 107. 
 (2) 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. 
 (3) The principal amount and serial numbers of Registered Securities held by any Person, and the date of holding the same, shall be proved by the
Security Register. 
 (4) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security
shall bind every future Holder of the same Security and the Holder of every Security 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 Security. Any Holder or subsequent Holder may revoke the request, demand, authorization, direction, notice, consent or other Act as to his Security
or portion of his Security; PROVIDED, HOWEVER, that such revocation shall be effective only if the Trustee receives the notice of revocation before the date the Act becomes effective. 
 SECTION 106. NOTICES, ETC., TO TRUSTEE AND COMPANY. 
 Any request, demand, authorization, direction,
notice, consent, 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, 
  

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 (1) the Trustee by any Holder or by the Company shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, Attention: Corporate Trust Department, or 
 (2) the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company
addressed to it at the address of its principal office specified in the first paragraph of this Indenture or at any other address previously furnished in writing to the Trustee by the Company, Attention: Corporate Secretary. 
 The Company or the Trustee, by notice to the other, may designate additional or different addresses for subsequent notices or communications. 

All notices and communications (other than those sent to the Trustee) shall be deemed to have been duly given: at the time delivered by hand, if
personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if telecopied; and the next Business Day after timely delivery to the courier, if sent by overnight air courier
guaranteeing next-day delivery. All notices and communications to the Trustee shall be deemed duly given and effective only upon receipt. 
 Any notice or communication to a Holder shall be mailed by first class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next-day delivery to its address shown on the Security Register. Any
notice or communication shall also be so mailed to any Person described in TIA Section 313(c), to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with
respect to other Holders. 
 If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly
given, whether or not the addressee receives it. 
 If the Company mails a notice or communication to Holders, it shall mail a copy to the
Trustee and each Agent at the same time. 
 SECTION 107. NOTICE TO HOLDERS; WAIVER. 
 Where this Indenture provides for notice to Holders of Securities of any event, such notice shall be sufficiently given (unless otherwise herein expressly
provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at the address of such Holder as it appears in the Security Register, not later than the latest date, and not earlier than the earliest date,
prescribed for the giving of such notice. 
 In case by reason of the suspension of regular mail service, or by reason of any other cause it
shall be impracticable to give such notice to Holders of Registered Securities by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. In any case in
which notice to Holders of Registered Securities is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder of a Registered Security, shall affect the sufficiency of such notice with
respect to other Holders of Registered Securities. 
  

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 Where this Indenture provides for notice in any manner, such notice may be waived in writing by the
Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the
validity of any action taken in reliance upon such waiver. 
 SECTION 108. CONFLICT WITH TRUST INDENTURE ACT. 
 If any provision hereof limits, qualifies or conflicts with any provision of the Trust Indenture Act or another provision hereof required to be included
in this Indenture by any of the provisions of the Trust Indenture Act, such provision of the Trust Indenture Act 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 former provision shall be deemed to apply to this Indenture as so modified or to be excluded. 
 SECTION 109. EFFECT OF HEADINGS AND
TABLE OF CONTENTS. 
 The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the
construction hereof. 
 SECTION 110. SUCCESSORS AND ASSIGNS. 
 All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether or not so expressed. 
 SECTION 111. SEPARABILITY CLAUSE. 
 In case any provision in this Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 112.
BENEFITS OF INDENTURE. 
 Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the
parties hereto and their successors hereunder, any Authenticating Agent, Paying Agent and Security Registrar, and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
 SECTION 113. GOVERNING LAW. 
 This Indenture and the
Securities shall be governed by and construed in accordance with the laws of the State of New York, but without giving effect to applicable principles of conflicts of law to the extent the application of the laws of another jurisdiction would be
required thereby. 
  

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 SECTION 114. LEGAL HOLIDAYS. 
 In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of
the Securities) payment of principal and interest (and premium and Additional Amounts, if any) need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force
and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity, PROVIDED that no interest shall accrue for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may
be. 
 SECTION 115. CORPORATE OBLIGATION. 
 No recourse may be taken, directly or indirectly, against any incorporator, subscriber to the capital stock, stockholder, officer, director or employee of the Company or the Trustee or of any predecessor or successor of the Company or the
Trustee with respect to the Company’s obligations on the Securities or the obligations of the Company or the Trustee under this Indenture or any certificate or other writing delivered in connection herewith. 
 ARTICLE TWO 
 SECURITY FORMS

 SECTION 201. FORMS GENERALLY. 
 The
Securities of each series shall be Registered Securities and shall be in substantially such form or forms (including temporary or permanent global form) as shall be established by or pursuant to a Board Resolution or in one or more indentures
supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture and may have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution of the Securities. If
temporary Securities of any series are issued in global form as permitted by Section 304, the form thereof shall be established as provided in the preceding sentence. A copy of the Board Resolution establishing the form or forms of Securities
of any series (or any such temporary global Security) shall be delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 303 for the authentication and delivery of such Securities (or any such temporary
global Security). 
 The definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any
other manner, all as determined by the officers executing such Securities, as evidenced by their execution thereof. 
  

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 SECTION 202. FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION. 
 The Trustee’s certificate of authentication shall be in substantially the following form: 
 “This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

			
	By	 	  

		 	AUTHORIZED OFFICER”.

 SECTION 203. SECURITIES IN GLOBAL FORM. 
 If Securities of a series are issuable in global form, as contemplated by Section 301, then, notwithstanding clause (10) of Section 301 and
the provisions of Section 302, any such Security shall represent such of the Outstanding Securities of such series as shall be specified therein and may provide that it shall represent the aggregate amount of Outstanding Securities from time to
time endorsed thereon and that the aggregate amount of Outstanding Securities represented thereby may from time to time be reduced to reflect exchanges. Any endorsement of a Security in global form to reflect the amount, or any increase or decrease
in the amount, of Outstanding Securities represented thereby shall be made by the Trustee in such manner and upon instructions given by such Person or Persons as shall be specified in such Security or in a Company Order to be delivered to the
Trustee pursuant to Section 303 or Section 304. Subject to the provisions of Section 303 and, if applicable, Section 304, the Trustee shall deliver and redeliver any Security in permanent global form in the manner and upon
instructions given by the Person or Persons specified in such Security or in the applicable Company Order. If a Company Order pursuant to Section 303 or 304 has been, or simultaneously is, delivered, any instructions by the Company with respect
to endorsement or delivery or redelivery of a Security in global form shall be in writing but need not comply with Section 103 and need not be accompanied by an Opinion of Counsel. 
 The provisions of the last sentence of Section 303 shall apply to any Security in global form if such Security was never issued and sold by the
Company and the Company delivers to the Trustee the Security in global form together with written instructions (which need not comply with Section 103 and need not be accompanied by an Opinion of Counsel) with regard to the reduction in the
principal amount of Securities represented thereby, together with the written statement contemplated by the last sentence of Section 303. 
 Notwithstanding the provisions of Sections 201 and 307, unless otherwise specified as contemplated by Section 301, payment of principal of (and premium, if any) and interest on any Security in permanent global form shall be made to the
Person or Persons specified therein. 
 Notwithstanding the provisions of Section 308 and except as provided in the preceding paragraph,
the Company, the Trustee and any agent of the Company or of the Trustee shall treat a Person as the Holder of such principal amount of Outstanding Securities represented by a global Security as shall be specified in a written statement, if any, of
the Holder of such global Security, which is produced to the Security Registrar by such Holder. 
  

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 Global Securities may be issued in either temporary or permanent form. Permanent global Securities will
be issued in definitive form. 
 SECTION 204. BOOK-ENTRY SECURITIES. 
 Notwithstanding any provision of this Indenture to the contrary: 
 (a) At the discretion of the Company, any
Registered Security may be issued from time to time, in whole or in part, in permanent global form registered in the name of a Depositary, or its nominee. Each such Registered Security in permanent global form is hereafter referred to as a
“Book-Entry Security.” Subject to Section 303, upon such election, the Company shall execute, and the Trustee or an Authenticating Agent shall authenticate and deliver, one or more Book-Entry Securities that (i) are denominated
in an amount equal to the aggregate principal amount of the Outstanding Securities of such series if elected in whole or such lesser amount if elected in part, (ii) are registered in the name of the Depositary or its nominee, (iii) are
delivered by the Trustee or an Authenticating Agent to the Depositary or pursuant to the Depositary’s instructions and (iv) bear a legend in substantially the following form (or such other form as the Depositary and the Company may agree
upon): 
 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF [THE DEPOSITARY], TO THE COMPANY OR ITS AGENT FOR REGISTRATION
OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF [NOMINEE OF THE DEPOSITARY] OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF [THE DEPOSITARY] (AND ANY PAYMENT IS MADE TO [NOMINEE OF
THE DEPOSITARY] OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF [THE DEPOSITARY]), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
[NOMINEE OF THE DEPOSITARY], HAS AN INTEREST HEREIN. 
 (b) Any Book-Entry Security shall be initially executed and delivered as provided in
Section 303. Notwithstanding any other provision of this Indenture, unless and until it is exchanged in whole or in part for Registered Securities not issued in global form, a Book-Entry Security may not be transferred except as a whole by the
Depositary to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary, or by such Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary.

 (c) If at any time the Depositary notifies the Company or the Trustee that it is unwilling or unable to continue as Depositary for any
Book-Entry Securities, the Company shall appoint a successor Depositary, whereupon the retiring Depositary shall surrender or cause the surrender of its Book-Entry Security or Securities to the Trustee. The Trustee shall promptly 

  

 17 

 
notify the Company upon receipt of such notice. If a successor Depositary has not been so appointed by the effective date of the resignation of the
Depositary, the Book-Entry Securities will be issued as Registered Securities not issued in global form, in an aggregate principal amount equal to the principal amount of the Book-Entry Security or Securities theretofore held by the Depositary.

 The Company may at any time and in its sole discretion determine that the Securities shall no longer be Book-Entry Securities represented
by a global certificate or certificates, and will so notify the Depositary. Upon receipt of such notice, the Depositary shall promptly surrender or cause the surrender of its Book-Entry Security or Securities to the Trustee. Concurrently therewith,
Registered Securities not issued in global form will be issued in an aggregate principal amount equal to the principal amount of the Book-Entry Security or Securities theretofore held by the Depositary. 
 Upon any exchange of Book-Entry Securities for Registered Securities not issued in global form as set forth in this Section 204(c), such Book-Entry
Securities shall be cancelled by the Trustee, and Securities issued in exchange for such Book-Entry Securities pursuant to this Section shall be registered in such names and in such authorized denominations as the Depositary for such Book-Entry
Securities, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee or any Authenticating Agent shall deliver such Securities to the Persons in whose names such Securities are so
registered. 
 (d) The Company and the Trustee shall be entitled to treat the Person in whose name any Book-Entry Security is registered as
the Holder thereof for all purposes of the Indenture and any applicable laws, notwithstanding any notice to the contrary received by the Trustee or the Company; and the Trustee and the Company shall have no responsibility for transmitting payments
to, communication with, notifying, or otherwise dealing with any beneficial owners of any Book-Entry Security. Neither the Company nor the Trustee shall have any responsibility or obligations, legal or otherwise, to the beneficial owners or to any
other party including the Depositary, except for the Holder of any Book-Entry Security; PROVIDED HOWEVER, notwithstanding anything herein to the contrary, (i) for the purposes of determining whether the requisite principal amount of Outstanding
Securities have given, made or taken any request, demand, authorization, direction, notice, consent, waiver, instruction or other action hereunder as of any date, the Trustee shall treat any Person specified in a written statement of the Depositary
with respect to any Book-Entry Securities as the Holder of the principal amount of such Securities set forth therein and (ii) nothing herein shall prevent the Company, the Trustee, or any agent of the Company or Trustee, from giving effect to
any written certification, proxy or other authorization furnished by a Depositary with respect to any Book-Entry Securities, or impair, as between a Depositary and holders of beneficial interests in such Securities, the operation of customary
practices governing the exercise of the rights of the Depositary as Holder of such Securities. 
 (e) So long as any Book-Entry Security is
registered in the name of a Depositary or its nominee, all payments of the principal of (and premium, if any) and interest on such Book-Entry Security and redemption thereof and all notices with respect to such Book-Entry Security shall be made and
given, respectively, in the manner provided in the arrangements of the Company with such Depositary. 
  

 18 

 ARTICLE THREE 
 THE SECURITIES 
 SECTION 301. AMOUNT UNLIMITED; ISSUABLE IN SERIES. 
 The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. 
 The Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution, and set forth in an Officers’
Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series: 
 (1) the title of the Securities of the series (which shall distinguish the Securities of the series from all other Securities); 
 (2) any limit upon the aggregate principal amount of the Securities of the series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration or
transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 304, 305, 306, 905 or 1107); 
 (3) whether Securities of the series are to be issuable as Registered Securities, whether any Securities of the series are to be issuable initially in temporary global form and whether any Securities of the series are to be issuable in
permanent global form, as Book-Entry Securities or otherwise, and, if so, whether beneficial owners of interests in any such permanent global Security may exchange such interests for Securities of such series and of like tenor of any authorized form
and denomination and the circumstances under which any such exchanges may occur, if other than in the manner provided in Section 305, and the Depositary for any global Security or Securities; 
 (4) the manner in which any interest payable on a temporary global Security on any Interest Payment Date will be paid if other than in the
manner provided in Section 304; 
 (5) the date or dates on which the principal of (and premium, if any, on) the
Securities of the series is payable or the method of determination thereof; 
 (6) the rate or rates, or the method of
determination thereof, at which the Securities of the series shall bear interest, if any, whether and under what circumstances Additional Amounts with respect to such Securities shall be payable, the date or dates from which such interest shall
accrue, the Interest Payment Dates on which such interest shall be payable and, if other than as set forth in Section 101, the Regular Record Date for the interest payable on any Registered Securities on any Interest Payment Date; 

(7) if other than the Corporate Trust Office of the Trustee, the place or places where, subject to the provisions of Section 1002,
the principal of (and premium, if any), any interest on and any Additional Amounts with respect to the Securities of the series shall be payable; 
  

 19 

 (8) the period or periods within which, the price or prices (whether denominated in cash,
securities or otherwise) at which and the terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company, if the Company is to have that option, and the manner in which the Company must
exercise any such option; 
 (9) the obligation, if any, of the Company to redeem or purchase Securities of the series
pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices (whether denominated in cash, securities or otherwise) at which and the terms and conditions upon
which Securities of the series shall be redeemed or purchased in whole or in part pursuant to such obligation; 
 (10) the
denomination in which any Registered Securities of that series shall be issuable, if other than denominations of $1,000 and any integral multiple thereof; 
 (11) the currency or currencies (including composite currencies) in which payment of the principal of (and premium, if any), any interest on and any Additional Amounts with respect to the Securities of the series
shall be payable if other than the currency of the United States of America; 
 (12) if the principal of (and premium, if any)
or interest on the Securities of the series are to be payable, at the election of the Company or a Holder thereof, in a currency or currencies (including composite currencies) other than that in which the Securities are stated to be payable, the
currency or currencies (including composite currencies) in which payment of the principal of (and premium, if any) and interest on and any Additional Amounts with respect to Securities of such series as to which such election is made shall be
payable, and the periods within which and the terms and conditions upon which such election is to be made; 
 (13) if the
amount of payments of principal of (and premium, if any), any interest on and any Additional Amounts with respect to the Securities of the series may be determined with reference to any commodities, currencies or indices, or values, rates or prices,
the manner in which such amounts shall be determined; 
 (14) if other than the entire principal amount thereof, the portion
of the principal amount of Securities of the series that shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502; 
 (15) any additional means of satisfaction and discharge of this Indenture with respect to Securities of the series pursuant to
Section 401, any additional conditions to discharge pursuant to Section 401, 402, 403, 404, or 405, and the application, if any, of Section 403 and 404; 
 (16) any deletions or modifications of or additions to the Events of Default set forth in Section 501, the right of the Trustee or
the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 502, or the covenants of the Company set forth in Article X pertaining to the Securities of the series; 
  

 20 

 (17) the terms, if any, on which the Securities of any series may be converted into or
exchanged for stock or other securities of the Company or other entities, any specific terms relating to the adjustment thereof and the period during which such Securities may be so converted or exchanged; 
 (18) whether the Securities of a series will be issued as part of units consisting of Securities and other securities of the Company or
another issuer; 
 (19) any additional provisions relating to the subordination of the Securities pursuant to
Section 1403 or other provisions of Article XIV; and 
 (20) any other terms of the series (which terms shall not be
inconsistent with the provisions of this Indenture). 
 All Securities of any one series shall be substantially identical except, in the case
of Registered Securities, as to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Section 303) set forth, or determined in the manner provided, in the Officers’
Certificate referred to above or in any such indenture supplemental hereto. 
 All Securities of any one series need not be issued at the
same time and, unless otherwise provided in such Board Resolution or supplemental indenture, a series may be reopened for issuances of additional Securities of such series pursuant to a Board Resolution or in any indenture supplemental hereto.

 At the option of the Company, interest on the Registered Securities of any series that bears interest may be paid by mailing a check to
the address of any Holder as such address shall appear in the Security Register. 
 If any of the terms of the series are established by
action taken pursuant to a Board Resolution, a copy of an appropriate record of such action together with such Board Resolution shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to
the delivery of the Officers’ Certificate setting forth the terms of the series. 
 SECTION 302. DENOMINATIONS. 
 The Securities of each series shall be issuable in such denominations as shall be specified as contemplated by Section 301. In the absence of any
such provisions with respect to the Securities of any series, the Registered Securities of such series denominated in Dollars shall be issuable in denominations of $1,000 and any integral multiple thereof. Unless otherwise provided as contemplated
by Section 301 with respect to any series of Securities, any Securities of a series denominated in a currency other than Dollars shall be issuable in denominations that are the equivalent, as determined by the Company by reference to the noon
buying rate in The City of New York for cable transfers for such currency (“Exchange Rate”), as such rate is reported or otherwise made available by the Federal Reserve Bank of New York, on the applicable issue date for such Securities, of
$1,000 and any integral multiple thereof. 
  

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 SECTION 303. EXECUTION, AUTHENTICATION, DELIVERY AND DATING. 
 The Securities shall be executed on behalf of the Company by its Chairman of the Board, its Chief Executive Officer, its President, its Chief Financial
Officer, its Treasurer or one of its Vice Presidents, under its corporate seal reproduced thereon or affixed thereto attested by its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Securities may be
manual or facsimile. Coupons shall bear the facsimile signature of the Chairman of the Board, President, Treasurer or any Vice President of the Company. 
 Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to
hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 
 At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a Company Order for the
authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities as in this Indenture provided and not otherwise. 
 If the form or terms of the Securities of the series have been established in or pursuant to one or more Board Resolutions or Officer’s Certificate
as permitted by Sections 201 and 301, in authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive (in addition to the other documents
required by Section 103 hereof), and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating, 
 (a) if the form of such Securities has been established by or pursuant to Board Resolution as permitted by Section 201, that such form has been established in conformity with the provisions of this Indenture;

 (b) if the terms of such Securities have been established by or pursuant to Board Resolution as permitted by
Section 301, that such terms have been established in conformity with the provisions of this Indenture; and 
 (c) that
such Securities, 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 legal, valid and binding obligations of the Company,
enforceable in accordance with their terms, except as such enforcement is subject to the effect of bankruptcy, insolvency, fraudulent conveyance, reorganization or other laws relating to or affecting creditors’ rights, and general principles of
equity (regardless of whether such enforcement is considered in a proceeding in equity or at law); provided that such Opinion of Counsel need express no opinion as to whether a court in the United States would render a money judgment in currency
other than that of the United States. 
  

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 If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the
issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner not reasonably acceptable to the Trustee. 
 Each Registered Security shall be dated the date of its authentication. 
 No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a certificate of authentication substantially in the form provided for
herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if
any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in Section 309 together with a written
statement (which need not comply with Section 103 and need not be accompanied by an Opinion of Counsel) stating that such Security has never been issued and sold by the Company, for all purposes of this Indenture such Security shall be deemed
never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 
 SECTION 304. TEMPORARY
SECURITIES. 
 Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee
shall authenticate and deliver, temporary Securities that are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are
issued, in registered form and with such appropriate insertions, omissions, substitutions and other variations as the officers of the Company executing such Securities may determine, as evidenced by their execution of such Securities. 
 Except in the case of temporary Securities in global form (which shall be exchanged in accordance with the provisions of the following paragraphs), if
temporary Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such
series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon
surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of the same series of
authorized denominations. Until so exchanged, the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series. 
 All Outstanding temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities
of the same series and of like tenor authenticated and delivered hereunder. 
  

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 SECTION 305. REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE. 
 The Company shall cause to be kept for each series of Securities at one of the offices or agencies maintained pursuant to Section 1002 a register
(the register maintained in such office and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as
it may prescribe, the Company shall provide for the registration of Registered Securities and of transfers of Registered Securities of such series. The Trustee is hereby initially appointed “Security Registrar” for the purpose of
registering Securities and transfers of Securities as herein provided. 
 Upon surrender for registration of transfer of any Registered
Security of any series at the office or agency in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Registered
Securities of the same series and of like tenor, of any authorized denominations and of a like aggregate principal amount. 
 At the option
of the Holder, Registered Securities of any series may be exchanged for other Registered Securities of the same series and of like tenor, of any authorized denominations and of a like aggregate principal amount, upon surrender of the Securities to
be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities that the Holder making the exchange is entitled to receive.

 Notwithstanding the foregoing, except as otherwise specified as contemplated by Section 301, any permanent global Security shall be
exchangeable only as provided in this paragraph. If the beneficial owners of interests in a permanent global Security are entitled to exchange such interest for Securities of such series and of like tenor and principal amount of another authorized
form and denomination, as specified as contemplated by Section 301, then without unnecessary delay but in any event not later than the earliest date on which such interests may be so exchanged, the Company shall deliver to the Trustee
definitive Securities of that series in an aggregate principal amount equal to the principal amount of such permanent global Security, executed by the Company. On or after the earliest date on which such interests may be so exchanged, such permanent
global Security shall be surrendered from time to time in accordance with instructions given to the Trustee and the Depositary (which instructions shall be in writing but need not comply with Section 103 or be accompanied by an Opinion of
Counsel) or such other depositary as shall be specified in the Company Order with respect thereto to the Trustee, as the Company’s agent for such purpose, to be exchanged, in whole or in part, for definitive Securities of the same series
without charge and the Trustee shall authenticate and deliver, in exchange for each portion of such permanent global Security, a like aggregate principal amount of other definitive Securities of the same series of authorized denominations and of
like tenor as the portion of such permanent global Security to be exchanged; PROVIDED, HOWEVER, that no such exchanges may occur during a period beginning at the opening of business 15 days before any selection of Securities of that series is to be
redeemed and ending on the relevant Redemption Date. Promptly following any such exchange in part, such permanent global Security marked to evidence the partial exchange shall be returned by the Trustee to the Depositary or such other depositary
referred to above in accordance with the instructions of the 

  

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Company referred to above. If a Registered Security is issued in exchange for any portion of a permanent global Security after the close of business at the
office or agency where such exchange occurs on (i) any Regular Record Date and before the opening of business at such office or agency on the relevant Interest Payment Date, or (ii) any Special Record Date and before the opening of
business at such office or agency on the related proposed date for payment of Defaulted Interest, interest or Defaulted Interest, as the case may be, will not be payable on such Interest Payment Date or proposed date for payment, as the case may be,
in respect of such Registered Security, but will be payable on such Interest Payment Date or proposed date for payment, as the case may be, only to the Person to whom interest in respect of such portion of such permanent global Security is payable
in accordance with the provisions of this Indenture. 
 All Securities issued upon any registration of transfer or exchange of Securities
shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 
 Every Registered Security 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 Security 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 Securities, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchange pursuant to Section 304, 905 or 1107 not involving any transfer. 
 The Company shall not be required (i) to issue, register the transfer of or exchange Securities of any series during a period beginning at the
opening of business 15 days before the day of the mailing of a notice of redemption of Securities of such series selected for redemption and ending at the close of business on the day of the mailing of the relevant notice of redemption or
(ii) to register the transfer of or exchange any Registered Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 
 SECTION 306. MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES. 
 If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and 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 Security 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
notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon its request the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a
new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously Outstanding. 
  

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 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and
payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new Security
under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fee and expenses of the Trustee) connected
therewith. 
 Every new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall
constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security 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 Securities of that series duly issued hereunder. 
 The provisions of this Section 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 Securities. 
 SECTION 307. PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED. 
 Interest on any Registered Security which is payable, and is
punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest.
Unless otherwise provided with respect to the Securities of any series, payment of interest may be made at the option of the Company by check mailed or delivered to the address of any Person entitled thereto as such address shall appear in the
Security Register. 
 Any interest on any Registered Security of any series which is payable, but is not punctually paid or duly provided
for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by
the Company, at its election in each case, as provided in clause (1) or (2) below: 
 (1) The Company may elect to
make payment of any Defaulted Interest to the Persons in whose names the Registered Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Registered Security of such series and the date of the proposed
payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such
deposit prior to the date of the proposed payment, such money when deposited to be held in trust 

  

 26 

 
for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the
payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee
shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class
postage prepaid, to each Holder of Registered Securities of such series at his address as it appears in the Security Register, not less than 10 days prior to such Special Record Date. The Trustee may, in its discretion, in the name and at the
expense of the Company, cause a similar notice to be published at least once in an Authorized Newspaper, but such publication shall not be a condition precedent to the establishment of such Special Record Date. Notice of the proposed payment of such
Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Registered Securities of such series (or their respective Predecessor Securities) are registered
at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2). 
 (2) The Company may make payment of any Defaulted Interest on the Registered Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and
upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this Section, each Security delivered under this Indenture, upon registration of transfer of, in exchange for or
in lieu of, any other Security, shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 
 SECTION 308. PERSONS DEEMED OWNERS. 
 Prior to due presentment of a Registered Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Registered Security is registered as the owner of such Registered Security for the purpose of receiving payment of principal of (and premium, if
any) and (subject to Sections 305 and 307) interest on such Registered Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be
affected by notice to the contrary. 
 SECTION 309. CANCELLATION. 
 All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the
Trustee. All Registered Securities so delivered shall be promptly cancelled by the Trustee. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may
have 

  

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acquired in any manner whatsoever, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu
of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of as directed by a Company Order; PROVIDED that the Trustee
shall not be required to destroy such Securities. 
 SECTION 310. COMPUTATION OF INTEREST. 
 Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be
computed on the basis of a year comprising twelve 30-day months. 
 SECTION 311. CUSIP NUMBERS. 
 The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP”
numbers in notices of redemption as a convenience to Holders; PROVIDED that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a
redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. 
 ARTICLE FOUR 
 SATISFACTION AND
DISCHARGE; LEGAL DEFEASANCE AND COVENANT DEFEASANCE 
 SECTION 401. SATISFACTION AND DISCHARGE OF INDENTURE. 
 This Indenture shall upon Company Request cease to be of further effect with respect to Securities of any series (except as to any surviving rights of
registration of transfer, exchange or replacement of such series of Securities herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this
Indenture with respect to such Securities, when 
 (1) either 
 (A) all such Securities of such series theretofore authenticated and delivered (other than (i) such Securities which have been
destroyed, lost or stolen and which have been replaced or paid as provided in Section 306 and (ii) such Securities of such series for whose payment money has theretofore been deposited in trust or segregated and held in trust by the
Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 
 (B) all such Securities of such series not theretofore delivered to the Trustee for cancellation 
 (i) have become due and payable, or 
  

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 (ii) will become due and payable at their Stated Maturity within one year, or 

(iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company, 
 and the Company, in the case of (B)(i), (ii) or
(iii) above, has deposited or caused to be deposited with the Trustee, as funds in trust for such purpose, an amount in the currency or currencies or currency unit or units in which such Securities of such series are payable or U.S. Government
Obligations maturing as to principal and interest in such amounts and at such times as will, together with any interest thereon, be sufficient to pay and discharge the entire indebtedness on such Securities of such series not theretofore delivered
to the Trustee for cancellation, for principal and any premium and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 
 (2) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 
 (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein
provided for relating to the satisfaction and discharge of this Indenture with respect to such series of Securities have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture with respect to the Outstanding Securities of such series pursuant to this Section 401, the obligations of the Company to the Trustee under Section 607 and to any
Authenticating Agent under Section 614 and, if money or U.S. Government Obligations shall have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of this Section, the obligations of the Trustee under
Section 406, Article VI and the last paragraph of Section 1003 shall survive. 
  

 29 

 SECTION 402. OPTION TO EFFECT LEGAL DEFEASANCE OR COVENANT DEFEASANCE. 
 In addition to the Company’s rights under Section 401 (which shall not be affected by this Section 402), the Company may, at the option of
its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate, at any time, elect to have either Section 403 or 404 hereof applied to all Outstanding Securities of any series upon compliance with the conditions set
forth in Sections 403 through 406 hereof. 
 SECTION 403. LEGAL DEFEASANCE AND DISCHARGE. 
 Upon the Company’s exercise under Section 402 hereof of the option applicable to this Section 403, the Company and the Guarantors shall,
subject to the satisfaction of the conditions set forth in Section 405 hereof, be deemed to have been discharged from their obligations with respect to all Outstanding Securities of a series on the date the conditions set forth below are
satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company shall be deemed to have paid and discharged the entire Indebtedness represented by the Outstanding Securities of a series, which shall
thereafter be deemed to be “outstanding” only for the purposes of Section 406 hereof and the other Sections of this Indenture referred to in (a) and (b) below, and to have satisfied all its other obligations under such
Securities and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions which shall survive until otherwise terminated or
discharged hereunder: (a) the rights of Holders of Outstanding Securities of any series to receive payments in respect of the principal of, premium, if any, and interest, if any, on such Securities when such payments are due from the trust
referred to in Section 405, (b) the Company’s obligations with respect to such Securities under Sections 304, 305, 306 and 1002 of this Indenture, (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and
the Company’s obligations in connection therewith and (d) this Article IV. Subject to compliance with Sections 402 through 406 hereof, the Company may exercise its option under this Section 403 notwithstanding the prior exercise of
its option under Section 404 hereof. 
 SECTION 404. COVENANT DEFEASANCE. 
 Upon the Company’s exercise under Section 402 hereof of the option applicable to this Section 404, the Company shall, subject to the
satisfaction of the conditions set forth in Section 405 hereof, be released from the operation of Section 801 hereof with respect to the Outstanding Securities of a series and any other covenant contained in the Board Resolution or
supplemental indenture relating to such series on and after the date the conditions set forth in Section 405 are satisfied (hereinafter, “Covenant Defeasance”), and the Securities of such series shall thereafter be deemed not
“outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all
other purposes hereunder (it being understood that such Securities shall not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the Outstanding Securities of such series, the Company may
omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any
reference in 

  

 30 

 
any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default
under Section 501 hereof, but, except as specified above, the remainder of this Indenture and such series of Securities shall be unaffected thereby. In addition, upon the Company’s exercise under Section 402 hereof of the option
applicable to this Section 404 hereof, subject to the satisfaction of the conditions set forth in Section 405 hereof, Sections 501(3) through 501(6) and Section 501(9) hereof shall not constitute Events of Default. 
 SECTION 405. CONDITIONS TO LEGAL OR COVENANT DEFEASANCE. 
 The following shall be the conditions to the application of either Section 403 or 404 hereof to the Outstanding Securities of any series: 
 In order to exercise either Legal Defeasance or Covenant Defeasance: 
 (a) the Company must irrevocably
deposit with the Trustee, in trust, for the benefit of the Holders of the Securities, cash in United States dollars, U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient, to pay the principal of, or interest
and premium, if any, on the Outstanding Securities of such series on the Stated Maturity or on the applicable redemption date, as the case may be, and the Company must specify whether the Securities are being defeased to maturity or to a particular
redemption date; 
 (b) in the case of Legal Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel reasonably
acceptable to the Trustee confirming that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (ii) since the date of this Indenture, there has been a change in the applicable federal
income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the Outstanding Securities of such series will not recognize income, gain or loss for federal income tax purposes as a
result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 
 (c) in the case of Covenant Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee
confirming that the Holders of the Outstanding Securities of such series will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 
 (d) no Default or Event
of Default shall have occurred and be continuing either: (i) on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit); or (ii) insofar as Events of Default
from bankruptcy or insolvency events are concerned, at any time in the period ending on the 91st day after the date of deposit; 
 (e) such
Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under any material agreement or instrument (other than this Indenture) to which the Company is a party or by which the Company is bound;

  

 31 

 (f) the Company must have delivered to the Trustee an Opinion of Counsel to the effect that, assuming no
intervening bankruptcy of the Company or any Guarantor between the date of deposit and the 91st day following the deposit and assuming that no Holder is an “insider” of the Company under applicable bankruptcy law, after the 91st day
following the deposit, the trust funds will not be subject to the effect of any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally; 
 (g) the Company must deliver to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with the intent of
preferring the Holders of Securities over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding creditors of the Company or others; and 
 (h) the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent relating
to the Legal Defeasance or the Covenant Defeasance have been complied with. 
 SECTION 406. DEPOSITED MONEY AND U.S. GOVERNMENT OBLIGATIONS TO BE HELD IN
TRUST; OTHER MISCELLANEOUS PROVISIONS. 
 Subject to Section 407 hereof, all money and non callable U.S. Government Obligations
(including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 406, the “Trustee”) pursuant to Section 401 or 404 hereof in respect of the Outstanding
Securities of any series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any paying agent (including the Company acting as paying
agent) as the Trustee may determine, to the Holders of such Securities of all sums due and to become due thereon in respect of principal, premium on , if any, and interest, but such money need not be segregated from other funds except to the extent
required by law. 
 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the
cash or non-callable U.S. Government Obligations deposited pursuant to Section 401 or 404 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the
Holders of the Outstanding Securities. 
 Anything in this Article IV to the contrary notwithstanding, the Trustee shall deliver or pay to
the Company from time to time upon the written request of the Company any money or non-callable U.S. Government Obligations held by it as provided in Section 401 or 404 hereof which, in the opinion of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance or satisfaction
and discharge of this Indenture. 
 SECTION 407. REPAYMENT TO COMPANY. 
 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, premium on, if any, or interest on any 

  

 32 

 
Securities and remaining unclaimed for two years after such principal, and premium, if any, or interest has become due and payable shall be paid to the
Company on its written request or (if then held by the Company) shall be discharged from such trust; and the Holder of such Securities shall thereafter, as an unsecured 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 the Trustee or such paying agent, before being required to make any such repayment,
may at the expense of the Company cause to be published once, in the New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30
days from the date of such notification or publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
 SECTION 408.
REINSTATEMENT. 
 If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations deposited with respect to
Securities of any series in accordance with Section 401, 403 or 404 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the
Company’s obligations under this Indenture with respect to the Securities of such series and the Securities of such series shall be revived and reinstated as though no deposit had occurred pursuant to Section 401, 403 or 404 hereof until
such time as the Trustee or Paying Agent is permitted to apply all such money or U.S. Government Obligations in accordance with Section 401, 403 or 404 hereof, as the case may be; provided, however, that, if the Company makes any payment
of principal of, premium on, if any, or interest on any Securities following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or U.S.
Government Obligations held by the Trustee or Paying Agent. 
 ARTICLE FIVE 
 REMEDIES 
 SECTION 501. EVENTS OF DEFAULT. 
 An “Event of Default” on a series occurs if: 
 (1) the Company defaults in the payment of interest on any Security of such series when the same becomes due and payable and the Default continues for a period of 30 days; 
 (2) the Company defaults in the payment of the principal of any Security of such series when the same becomes due and payable at maturity,
upon redemption or otherwise; 
 (3) the Company fails to comply with any of its other agreements in the Securities of such
series or this Indenture (as they relate thereto) and the Default continues for the period and after the notice specified below (except in the case of a default with respect to any Change of Control Provisions or Article VIII (or any replacement
provisions contemplated by Article VIII), which will constitute Events of Default with notice but without passage of time); 
  

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 (4) the acceleration of any Indebtedness of the Company in an amount of $50.0 million or
more, individually or in the aggregate, and such acceleration does not cease to exist, or such Indebtedness is not satisfied, in either case within five days after such acceleration; 
 (5) the failure by the Company to make any principal or interest payment in an amount of $50.0 million or more, individually or in the
aggregate, in respect of Indebtedness of the Company within five days of such principal or interest becoming due and payable (after giving effect to any applicable grace period set forth in the documents governing such Indebtedness); 
 (6) a final judgment or judgments in an amount of $50.0 million or more, individually or in the aggregate, for the payment of money having
been entered by a court or courts of competent jurisdiction against the Company and such judgment or judgments is not satisfied, stayed, annulled or rescinded within 90 days after being entered; 
 (7) the Company pursuant to or within the meaning of any Bankruptcy Law: 
 (a) commences a voluntary case, 
 (b) consents to the entry of an order for relief against it in an involuntary case, 
 (c)
consents to the appointment of a Custodian of it or for all or substantially all of its property, or 
 (d) makes a general
assignment for the benefit of creditors; 
 (8) a court of competent jurisdiction enters into an order or decree under any Bankruptcy Law
that: 
 (a) is for relief against the Company in an involuntary case, 
 (b) appoints a Custodian of the Company or for all or substantially all of its property, or 
 (c) orders the liquidation of the Company, 
 and the order or decree remains unstayed and in effect for 60 days; or 
 (9) any other Event
of Default occurs with respect to Securities of that series as provided in the supplemental indenture or Board Resolutions establishing such series of Securities. 
  

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 The term “Bankruptcy Law” means the Bankruptcy Act or any similar Federal or State law for the
relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 
 A Default under clause (3) above is not an Event of Default until the Trustee notifies the Company, or the Holders of at least 25% in principal amount of the Securities of the applicable series notify the Company and the Trustee of the
Default and (except in the case of a default with respect to any provisions of any supplemental indenture or Board Resolution establishing such series of Securities giving the Holders of Securities of such series the right to require the Company to
repurchase or redeem such Securities of such series upon the occurrence of a change of control prior to the final maturity date of such Securities of such series (“Change of Control Provisions”) or Article VIII (or any replacement
provisions contemplated by Article VIII)) the Company does not cure the Default within 90 days after receipt of the notice. The notice must specify the Default, demand that it be remedied and state that the notice is a “Notice of Default.”

 Notwithstanding the foregoing provisions of this Section 501, if the principal of (and premium, if any) or any interest on or
Additional Amounts with respect to any Security is payable in a currency or currencies (including a composite currency) other than Dollars and such currency (or currencies) is (or are) not available to the Company for making payment thereof due to
the imposition of exchange controls or other circumstances beyond the control of the Company (a “Conversion Event”), the Company will be entitled to satisfy its obligations to Holders of the Securities by making such payment in Dollars in
an amount equal to the Dollar equivalent of the amount payable in such other currency, as determined by the Company by reference to the Exchange Rate, as such Exchange Rate is certified for customs purposes by the Federal Reserve Bank of New York on
the date of such payment, or, if such rate is not then available, on the basis of the most recently available Exchange Rate. Notwithstanding the foregoing provisions of this Section 501, any payment made under such circumstances in Dollars
where the required payment is in a currency other than Dollars will not constitute an Event of Default under this Indenture. 
 Promptly
after the occurrence of a Conversion Event, the Company shall give written notice thereof to the Trustee; and the Trustee, promptly after receipt of such notice, shall give notice thereof in the manner provided in Section 107 to the Holders.
Promptly after the making of any payment in Dollars as a result of a Conversion Event, the Company shall give notice in the manner provided in Section 107 to the Holders, setting forth the applicable Exchange Rate and describing the calculation
of such payments. 
 SECTION 502. ACCELERATION. 
 If any Event of Default (other than an Event of Default specified in clause (7) or (8) of Section 501 hereof) with respect to Securities of any series occurs and is continuing, either the Trustee or the Holders of at least
25% in principal amount of the then Outstanding Securities of that series may declare all the Securities of that series to be due and payable immediately. Upon any such declaration, the Securities of that series shall become due and payable
immediately, by a notice in writing to the Company (and to the Trustee if given by Holders). Notwithstanding the foregoing, if an Event of Default specified in clause (7) or (8) of Section 501 hereof occurs with respect to any series
of Securities, all outstanding Securities of that series shall become due and payable without further action or notice. The Holders of a majority in aggregate principal 

  

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amount of Securities of any series then Outstanding by notice to the Trustee may on behalf of the Holders of all of the Securities of that series waive any
existing Default or Event of Default and its consequences under this Indenture except a continuing Default or Event of Default in the payment of interest or premium, if any, on, or the principal of, the Securities of that series. 
 SECTION 503. OTHER REMEDIES. 
 If an Event of Default
with respect to Securities of any series occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium, if any, and interest on the Securities of that series or to enforce the performance of any
provision of the Securities of that series or this Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the
Securities in a series or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Security in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or
constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted by law. 
 SECTION 504. WAIVER OF PAST
DEFAULTS. 
 Holders of not less than a majority in aggregate principal amount of the then outstanding Securities in any series by notice
to the Trustee may on behalf of the Holders of all of the Securities of that series waive any existing Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default in the payment of the principal of,
premium, if any, or interest on, the Securities of that series (including in connection with an offer to purchase) (provided, however, that the Holders of a majority in aggregate principal amount of the then outstanding Securities of any series may
rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration, with respect to that series). Upon any such waiver, such Default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 
 SECTION 505. CONTROL BY MAJORITY. 
 With respect to
any series of Securities, Holders of a majority in principal amount of the then outstanding Securities of that series may direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or exercising
any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture that the Trustee determines may be unduly prejudicial to the rights of other Holders of Securities of any series or
that may involve the Trustee in personal liability. 
 SECTION 506. LIMITATION ON SUITS. 
 A Holder of a Security of any series may pursue a remedy with respect to this Indenture or the Securities of that series only if: 
 (a) the Holder of a Security of that series gives to the Trustee written notice of a continuing Event of Default; 
  

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 (b) the Holders of at least 25% in principal amount of the then outstanding Securities of
that series make a written request to the Trustee to pursue the remedy; 
 (c) such Holder of a Security or Holders of
Securities offer and, if requested, provide to the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (d) the Trustee does not comply with the request within 60 days after receipt of the request and the offer and, if requested, the provision of indemnity; and 
 (e) during such 60-day period the Holders of a majority in principal amount of the then outstanding Securities of that series do not give
the Trustee a direction inconsistent with the request. 
 A Holder of a Security may not use this Indenture to prejudice the rights of
another Holder of a Security or to obtain a preference or priority over another Holder of a Security. 
 SECTION 507. RIGHTS OF HOLDERS OF SECURITIES TO
RECEIVE PAYMENT. 
 Notwithstanding any other provision of this Indenture, the right of any Holder of a Security of any series to receive
payment of principal, premium, if any, and interest on the Security, on or after the respective due dates expressed in the Security (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or
after such respective dates, shall not be impaired or affected without the consent of such Holder. 
 SECTION 508. COLLECTION SUIT BY TRUSTEE.

 With respect to the Securities of any series, if an Event of Default specified in clause (1) or (2) of Section 501
hereof 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, if any, and interest remaining unpaid on the
Securities of that series and interest on overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel. 
 SECTION 509. 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 in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders of the Securities of any series allowed in any judicial proceedings relative to the Company
(or any other obligor upon the Securities), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian in any such
judicial 

  

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proceeding is hereby authorized by each Holder of that series to make such payments to the Trustee, and in the event that the Trustee shall consent to the
making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 607 of this Indenture. 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 607 of this Indenture
out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be 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 shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on
behalf of any Holder of any series of Securities any plan of reorganization, arrangement, adjustment or composition affecting the Securities of that series 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 510. PRIORITIES. 
 If the Trustee collects any money pursuant to this Article, it shall pay out the money in the following order: 
 (a) First: to the Trustee, its agents and attorneys for amounts due under Section 607 of this Indenture, including payment of all compensation, expense and liabilities incurred, and all advances made, by the
Trustee and the costs and expenses of collection; 
 (b) Second: to Holders of Securities for amounts due and unpaid on the
Securities for principal, premium, if any, and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities for principal, premium, if any, and interest, respectively; and 
 (c) Third: to the Company or to such party as a court of competent jurisdiction shall direct. 
 The Trustee may fix a record date and payment date for any payment to Holders of Securities pursuant to this Section 510. 
 SECTION 511. UNDERTAKING FOR COSTS. 
 In any suit for
the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking
to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims
or defenses made by the party litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder of a Security pursuant to Section 507 hereof, or a suit by Holders of more than 10% in principal amount of the then outstanding
Securities of any series. 
  

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 ARTICLE SIX 
 THE TRUSTEE 
 SECTION 601. CERTAIN DUTIES AND RESPONSIBILITIES. 
 (a) Except during the continuance of an Event of Default with respect to the Securities of any series: 
 (1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied
covenants or obligations shall be read into this Indenture against the Trustee; and 
 (2) in the absence of bad faith on its
part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon 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 that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether they conform to the requirements of this
Indenture. 
 (b) In case an Event of Default has occurred and is continuing with respect to the Securities of any series, the
Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs.

 (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: 
 (1) this Subsection shall not be construed to
limit the effect of Subsection (a) of this Section; 
 (2) the Trustee shall not be liable for any error of judgment made
in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (3) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with the direction of the Holders of a majority in principal amount of the Outstanding Securities of
any series or of all series, determined as provided in Section 505, 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 with respect to the Securities of such series; and 
  

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 (4) no provision of this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or indemnity
satisfactory to it against such risk or liability is not assured to it. 
 (d) Whether or not therein expressly so provided,
every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 
 SECTION 602. NOTICE OF DEFAULTS. 
 Within 90 days after the occurrence of any Default or Event of
Default with respect to the Securities of any series, the Trustee shall give notice of such Default or Event of Default known to the Trustee to all Holders of Securities of such series in the manner provided in Section 107 and in compliance
with the Trust Indenture Act, unless such Default or Event of Default shall have been cured or waived; PROVIDED, HOWEVER, that, except in the case of a Default or Event of Default in the payment of the principal of (or premium, if any) or interest
on or any Additional Amounts with respect to any Security of such series or in the payment of any sinking fund installment with respect to Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the
board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interest of the Holders of Securities of such series; and
PROVIDED, FURTHER, that in the case of any Default or Event of Default of the character specified in Section 501(3) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence
thereof. 
 SECTION 603. CERTAIN RIGHTS OF TRUSTEE. 
 Subject to the provisions of Section 601: 
 (a) the Trustee may rely and shall be
protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon, other evidence of indebtedness or other paper or
document believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (b) any request
or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 
 (c) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to
taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officers’ Certificate; 
 (d) the Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
  

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 (e) the Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities
that might be incurred by it in compliance with such request or direction; 
 (f) the Trustee shall not be 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, note, coupon, other evidence of indebtedness 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; 
 (g) 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, except for any Affiliates of the Trustee, the Trustee shall not be responsible for any misconduct or negligence on the part
of any agent or attorney appointed with due care by it hereunder; 
 (h) the Trustee shall not be charged with knowledge of
any Default or Event of Default with respect to the Securities of any series for which it is acting as Trustee unless either (1) a Responsible Officer shall have actual knowledge of such Default or Event of Default or (2) written notice of
such Default or Event of Default shall have been given to the Trustee by the Company or any other obligor on such Securities or by any Holder of such Securities; and 
 (i) the Trustee shall not be liable for any action taken, suffered or omitted by it in good faith and believed by it to be authorized or
within the discretion or rights or powers conferred upon it by this Indenture. 
 SECTION 604. NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES.

 The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the
statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the
use or application by the Company of Securities or the proceeds thereof. 
 SECTION 605. MAY HOLD SECURITIES. 
 The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any other
capacity, may become the owner or pledgee of Securities and, subject to Sections 608 and 613, may otherwise deal with the Company with the same rights it would have if it were not the Trustee, Authenticating Agent, Paying Agent, Security Registrar
or such other agent. 
  

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 SECTION 606. MONEY HELD IN TRUST. 
 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 any money received by it hereunder
except as otherwise agreed with the Company. 
 SECTION 607. COMPENSATION AND REIMBURSEMENT. 
 The Company agrees: 
 (1) to
pay to the Trustee from time to time compensation for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
 (2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements
and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the compensation and the reasonable expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as
may be attributable to its negligence or bad faith; and 
 (3) to indemnify the Trustee and each of its directors, officers,
employees, agents and/or representatives for, and to hold each of them harmless against, any loss, liability or expense incurred without negligence or bad faith on each of their part, arising out of or in connection with the acceptance or
administration of the trust or trusts hereunder, including the costs and expenses of defending themselves against any claim or liability in connection with the exercise or performance of any of the Trustee’s powers or duties hereunder.

 As security for the performance of the obligations of the Company under this Section 607, the Trustee shall have a lien prior to the
Securities on all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of, premium, if any, or interest, if any, on or any Additional Amounts with respect to particular Securities.

 Any expenses and compensation for any services rendered by the Trustee after the occurrence of an Event of Default specified in clause
(7) or (8) of Section 501 shall constitute expenses and compensation for services of administration under all applicable federal or state bankruptcy, insolvency, reorganization or other similar laws. 
 The provisions of this Section 607 and any lien arising hereunder shall survive the resignation or removal of the Trustee or the discharge of the
Company’s obligations under this Indenture and the termination of this Indenture. 
  

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 SECTION 608. DISQUALIFICATION; CONFLICTING INTERESTS. 
 (a) If the Trustee has or shall acquire any conflicting interest, as defined in this Section 608, with respect to the Securities of
any series, it shall, within 90 days after ascertaining that it has such conflicting interest, either eliminate such conflicting interest or resign with respect to the Securities of that series in the manner and with the effect hereinafter specified
in this Article. 
 (b) In the event that the Trustee shall fail to comply with the provisions of Subsection (a) of this
Section 608 with respect to the Securities of any series, the Trustee shall, within 10 days after the expiration of such 90-day period, transmit by mail to all Holders of Securities of that series, as their names and addresses appear in the
Security Register, notice of such failure in compliance with the Trust Indenture Act. 
 (c) For the purposes of this Section,
the term “conflicting interest” shall have the meaning specified in Section 310(b) of the Trust Indenture Act and the Trustee shall comply with Section 310(b) of the Trust Indenture Act; PROVIDED, that there shall be excluded
from the operation of Section 310(b)(1) of the Trust Indenture Act with respect to the Securities of any series any indenture or indentures under which other securities, or certificates of interest or participation in other securities, of the
Company are outstanding, if the requirements for such exclusion set forth in Section 310(b)(1) of the Trust Indenture Act are met. For purposes of the preceding sentence, the optional provision permitted by the second sentence of
Section 310(b)(1) of the Trust Indenture Act shall be applicable. 
 SECTION 609. CORPORATE TRUSTEE REQUIRED; ELIGIBILITY. 
 There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America,
any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50 million and subject to supervision or examination by Federal or State (or the
District of Columbia) authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section 609, the combined
capital and surplus of such corporation 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, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 
 The Indenture shall
always have a Trustee who satisfies the requirements of Sections 310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act. 
  

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 SECTION 610. RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR. 
 (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective
until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 611. 
 (b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have
been delivered to the resigning Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities
of such series. 
 (c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the
Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. 
 (d) If at any time: 
 (1) the Trustee shall fail to comply with Section 608(a) after written request therefor
by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or 
 (2) the Trustee
shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any such Holder of Securities, or 
 (3) 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, (i) the Company by a Board
Resolution may remove the Trustee with respect to all Securities, or (ii) subject to Section 505, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 
 (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any
cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such
successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or
Trustees shall comply with the applicable requirements of Section 611. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the 

  

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Company and accepted appointment in the manner required by Section 611, any Holder who has been a bona fide Holder of a Security of such series for at
least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 (f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and
each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all Holders of Securities of such series as their names and addresses appear in the
Security Register. Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 
 SECTION 611. ACCEPTANCE OF APPOINTMENT BY SUCCESSOR. 
 (a) In case of the appointment
hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the
resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the
request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall
duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. 
 (b) In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more
series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to
vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is
not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those
series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a
trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture, the resignation or removal of the retiring Trustee shall
become effective to the extent provided therein and each such successor Trustee, without any 

  

 45 

 
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of
that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money
held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. 
 (c) Upon request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts
referred to in paragraph (a) or (b) of this Section, as the case may be. 
 (d) No successor Trustee shall accept
its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this Article. 
 SECTION 612. MERGER,
CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS. 
 Any corporation into which the Trustee may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the
successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto; PROVIDED, HOWEVER,
that in the case of a corporation succeeding to all or substantially all the corporate trust business of the Trustee, such successor corporation shall expressly assume all of the Trustee’s liabilities hereunder. In case any Securities shall
have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same
effect as if such successor Trustee had itself authenticated such Securities. 
 SECTION 613. PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY.

 The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in
Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent indicated therein. 
 SECTION 614. APPOINTMENT OF AUTHENTICATING AGENT. 
 The Trustee may appoint an Authenticating Agent or Agents that shall be authorized to act on behalf of the Trustee to authenticate Securities issued upon original issue and upon exchange, registration of transfer or partial redemption or
pursuant to Section 306, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this
Indenture to the authentication and delivery of Securities by the Trustee or the 

  

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Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an
Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business
under the laws of the United States of America, any State thereof or the District of Columbia having a combined capital and surplus of not less than $50 million or equivalent amount expressed in a foreign currency and subject to supervision or
examination by Federal or State (or the District of Columbia) authority or authority of such country. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or
examining authority, then for the purposes of this Section 614, the combined capital and surplus of such Authenticating Agent 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 an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section 614, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this
Section 614. 
 Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or
any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue
to be an Authenticating Agent, PROVIDED such corporation shall be otherwise eligible under this Section 614, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 
 An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time terminate
the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall
cease to be eligible in accordance with the provisions of this Section 614, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall mail written notice of such appointment by first-class mail,
postage prepaid, to all Holders as their names and addresses appear in the Security Register. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its
predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section 614. 
 The Trustee agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section 614, and the
Trustee shall be entitled to be reimbursed for such payments, subject to the provisions of Section 607. 
 If an appointment is made
pursuant to this Section 614, the Securities may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternate certificate of authentication in the following form: 
  

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 “This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture. 
  

					
	  
	 	,
	AS TRUSTEE	 	
			
	By	 	  
	 	,
		 	AS AUTHENTICATING AGENT	 	
	By	 	  
	 	
		 	AUTHORIZED SIGNATORY”.	 	

 Notwithstanding any provision of this Section 614 to the contrary, if at any time any
Authenticating Agent appointed hereunder with respect to any series of Securities shall not also be acting as the Security Registrar hereunder with respect to any series of Securities, then, in addition to all other duties of an Authenticating Agent
hereunder, such Authenticating Agent shall also be obligated (i) to furnish to the Security Registrar promptly all information necessary to enable the Security Registrar to maintain at all times an accurate and current Security Register and
(ii) prior to authenticating any Security denominated in a foreign currency, to ascertain from the Company the units of such foreign currency that are required to be determined by the Company pursuant to Section 302. 
 ARTICLE SEVEN 
 HOLDER’S LISTS
AND REPORTS BY TRUSTEE AND COMPANY 
 SECTION 701. COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS. 
 With respect to each series of Securities, the Company will furnish or cause to be furnished to the Trustee: 
 (a) semi-annually, not more than 15 days after each Regular Record Date relating to that series (or, if there is no Regular Record Date
relating to that series, on January 1 and July 1), a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders of that series as of such dates, and 
 (b) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list
of similar form and content, such list to be dated as of a date not more than 15 days prior to the time such list is furnished; 
 PROVIDED, that so long as
the Trustee is the Security Registrar, the Company shall not be required to furnish or cause to be furnished such a list to the Trustee. The Company shall otherwise comply with Section 312(a) of the Trust Indenture Act. 
  

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 SECTION 702. PRESERVATION OF INFORMATION; COMMUNICATIONS TO HOLDERS. 
 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders of each series
contained in the most recent list furnished to the Trustee as provided in Section 701 and the names and addresses of Holders of each series received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list
furnished to it as provided in Section 701 upon receipt of a new list so furnished. The Trustee shall otherwise comply with Section 312(a) of the Trust Indenture Act. 
 (b) Holders of Securities may communicate pursuant to Section 312(b) of the Trust Indenture Act with other Holders with respect to
their rights under this Indenture or under the Securities. The Company, the Trustee, the Security Registrar and any other Person shall have the protection of Section 312(c) of the Trust Indenture Act. 
 SECTION 703. REPORTS BY TRUSTEE. 
 (a)
Within 60 days after May 15 of each year commencing with the year 2002, the Trustee shall transmit by mail to Holders a brief report dated as of such May 15 that complies with Section 313(a) of the Trust Indenture Act. The Trustee
shall comply with Section 313(b) of the Trust Indenture Act. The Trustee shall transmit by mail all reports as required by Sections 313(c) and 313(d) of the Trust Indenture Act. 
 (b) A copy of each report pursuant to Subsection (a) of this Section 703 shall, at the time of its transmission to Holders, be
filed by the Trustee with each stock exchange upon which any Securities are listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange. 
 SECTION 704. REPORTS BY COMPANY. 
 The Company shall
file with the Trustee, within 15 days after the Company is required to file the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the
Commission may from time to time by rules and regulations prescribe) which the Company may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended, and shall
otherwise comply with Section 314(a) of the Trust Indenture Act. 
  

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 ARTICLE EIGHT 
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
 SECTION 801. COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN
TERMS. 
 (a) The Company shall not, directly or indirectly, in any transaction or series of related transactions:
(1) consolidate or merge with or into another Person (whether or not the Company is the surviving corporation); (2) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the properties or assets of the Company
and its Subsidiaries taken as a whole, or (3) assign any of its obligations under the Securities and this Indenture, in one or more related transactions, to another Person; unless: 
 (i) either: (A) the Company is the surviving corporation; or (B) the Person formed by or surviving any such consolidation or
merger (if other than the Company) or to which such sale, assignment, transfer, conveyance or other disposition shall have been made is a corporation organized or existing under the laws of the United States, any state thereof or the District of
Columbia; 
 (ii) the Person formed by or surviving any such consolidation or merger (if other than the Company) or the Person
to which such sale, assignment, transfer, conveyance or other disposition shall have been made assumes all the obligations of the Company under the Securities and this Indenture pursuant to agreements reasonably satisfactory to the Trustee;

 (iii) immediately after such transaction no Default or Event of Default exists; 
 (iv) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such
merger, consolidation or sale, assignment, transfer, conveyance or other disposition of such properties or assets or assignment of its obligations under the Securities and this Indenture and such supplemental indenture, if any, comply with this
Indenture. 
 (b) The Company shall not, directly or indirectly, lease all or substantially all of its properties or assets,
in one or more related transactions, to any other Person. 
 (c) Notwithstanding the foregoing, this Section 801 shall
not apply to a sale, assignment, transfer, conveyance or other disposition of assets between or among the Company and any of its Wholly Owned Subsidiaries. 
 SECTION 802. SUCCESSOR PERSON SUBSTITUTED. 
 Upon any consolidation or merger, any sale, assignment, transfer, lease,
conveyance or other disposition of all or substantially all of the assets of the Company, or any assignment of the obligations under the Securities and this Indenture in accordance with Section 801 hereof, the 

  

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successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, lease, conveyance
or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, lease, conveyance or other disposition, the provisions of this Indenture referring to the “Company”
shall refer instead to the successor corporation and not to the Company), and may exercise every right and power of the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein; provided,
however, that the predecessor Company shall not be relieved from the obligation to pay the principal of and interest on the Securities except in the case of a sale of all of the Company’s assets that meets the requirements of Section 801
hereof. 
 ARTICLE NINE 
 SUPPLEMENTAL INDENTURES 
 SECTION 901. WITHOUT CONSENT OF HOLDERS. Notwithstanding Section 902 of this Indenture, the Company
and the Trustee may amend or supplement this Indenture or the Securities of any series without the consent of any Holder of a Security of any series: 
 (a) to cure any ambiguity, defect or inconsistency; 
 (b) to provide for uncertificated
Securities in addition to or in place of certificated Securities or to alter the provisions of Article II of this Indenture (including the related definitions) in a manner that does not materially adversely affect any Holder; 
 (c) to establish the form or terms of Securities of any series as permitted by Sections 201 and 301 of this Indenture; 
 (d) to provide for the assumption of the Company’s or any guarantor’s obligations to the Holders of the Securities by a
successor to the Company pursuant to Article VIII of this Indenture; 
 (e) to make any change that would provide any
additional rights or benefits to the Holders of the Securities or that does not adversely affect the legal rights hereunder of any such Holder; 
 (f) to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the Trust Indenture Act; 
 (g) to evidence and provide the acceptance of the appointment of a successor Trustee pursuant to Sections 610 and 611 of this Indenture;
and 
 (h) to add a guarantor of the Securities. 
 Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental
indenture, and upon receipt by the Trustee of the documents described in Section 603 of this Indenture, the Trustee shall join with the Company in the execution of any amended or supplemental indenture authorized or permitted by the terms of
this Indenture and to make any further appropriate agreements and 

  

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stipulations that may be therein contained, but the Trustee shall not be obligated to enter into such amended or supplemental indenture that affects its own
rights, duties or immunities under this Indenture or otherwise. 
 SECTION 902. WITH CONSENT OF HOLDERS. 
 Except as provided below in this Section 902, the Company and the Trustee may amend or supplement this Indenture and the Securities of any series may
be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount at maturity of Securities of that series then Outstanding voting as a single class (including, without limitation, consents obtained in
connection with a purchase of, or tender offer or exchange offer for, that series of Securities), and, subject to Sections 504 and 507 hereof, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the
principal of, premium, if any, and interest, if any, on such Securities, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture or such Securities may be waived with the
consent of the Holders of a majority in aggregate principal amount at maturity of the then Outstanding Securities of that series voting as a single class (including without limitation, consents obtained in connection with a purchase of, or tender
offer or exchange offer for, that series of Securities). 
 Upon the request of the Company accompanied by a Board Resolution authorizing the
execution of any such amended or supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of that series of Securities as aforesaid, and upon receipt by the Trustee of the
documents described in Section 603 of this Indenture, the Trustee shall join with the Company in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own
rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such amended or supplemental indenture. 
 It shall not be necessary for the consent of the Holders of Securities under this Section 902 to approve the particular form of any proposed
amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 
 After an amendment, supplement or waiver
under this Section becomes effective, the Company shall mail to the Holders of Securities of any series affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect
therein, shall not, however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver. 
 Subject to
Sections 504 and 507 hereof, the Holders of a majority in aggregate principal amount at maturity of a series of Securities then Outstanding voting as a single class may waive compliance in a particular instance by the Company with any provision of
this Indenture or the Securities. However, without the consent of each Holder of a series of Securities affected, an amendment or waiver under this Section 902 may not (with respect to the series of Securities held by a non-consenting Holder):

 (a) reduce the principal amount of the then Outstanding Securities whose Holders must consent to an amendment, supplement
or waiver; 
  

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 (b) reduce the principal of or change the fixed maturity of any Security or alter any of
the provisions with respect to the redemption of the Securities unless otherwise specifically provided for in the supplemental indenture; 
 (c) reduce the rate of or change the time for payment of interest on any Security; 
 (d)
waive a Default or Event of Default in the payment of principal of, or interest or premium, if any, on the Securities (except a rescission of acceleration of the Securities by the Holders of any series of Securities of at least a majority in
aggregate principal amount of the then Outstanding Securities of that series and a waiver of the payment default that resulted from such acceleration); 
 (e) make any Security payable in money other than that stated in the Security; 
 (f) make any
change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders of Securities to receive payments of principal of, or interest or premium, if any, on the Securities; 
 (g) waive a redemption payment with respect to any Security (other than as may be specifically permitted by the supplemental indenture);

 (h) cause the Securities to become subordinated in right of payment to any other Indebtedness; 
 (i) release any guarantor from any of its obligations under its guarantee or this Indenture, except in accordance with the terms thereof;
or 
 (j) make any change in Sections 504 or 507 or the foregoing amendment and waiver provisions. 
 SECTION 903. COMPLIANCE WITH TRUST INDENTURE ACT. 
 Every amendment or supplement to this Indenture or the Securities shall be set forth in a amended or supplemental indenture that complies with the Trust Indenture Act as then in effect. 
 SECTION 904. REVOCATION AND EFFECT OF CONSENTS . 
 Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder of a Security and every subsequent Holder of a Security or portion of a Security that evidences the
same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such Holder of a Security or subsequent Holder of a Security may revoke the consent as to its Security if the Trustee
receives written notice of revocation before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 
  

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 SECTION 905. NOTATION ON OR EXCHANGE OF SECURITIES. 
 The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Security thereafter authenticated. The Company in exchange
for all Securities of a series may issue and the Trustee shall, upon receipt of a written order from the Company to authenticate such Securities, authenticate new Securities that reflect the amendment, supplement or waiver. 
 SECTION 906. TRUSTEE TO SIGN AMENDMENTS, ETC. 
 The
Trustee shall sign any amended or supplemental indenture authorized pursuant to this Article IX if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an
amendment or supplemental indenture until the Board of Directors approves it. In executing any amended or supplemental indenture, the Trustee shall be entitled to receive and (subject to Section 601 of this Indenture) shall be fully protected
in relying upon, in addition to the documents required by Section 603 this Indenture, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental indenture is authorized or permitted by
this Indenture. 
 ARTICLE TEN 
 COVENANTS 
 SECTION 1001. PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST. 
 The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of (and premium, if any),
interest on and any Additional Amounts with respect to the Securities of that series in accordance with the terms of the Securities and this Indenture. 
 SECTION 1002. MAINTENANCE OF OFFICE OR AGENCY. 
 If Securities of a series are issuable only as Registered Securities, the
Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of
transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture 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 of the Trustee. 
 The Company may also from time to time designate one or more other offices or
agencies where the Securities of one or more series may be presented or surrendered for any or all such 

  

 54 

 
purposes and may from time to time rescind such designations; PROVIDED, HOWEVER, that no such designation or rescission shall in any manner relieve the
Company of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in
the location of any such other office or agency. 
 SECTION 1003. MONEY FOR SECURITIES PAYMENTS TO BE HELD IN TRUST. 
 If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date of the
principal of (and premium, if any) or interest on or any Additional Amounts with respect to any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and
premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 
 Whenever the Company shall have one or more Paying Agents for any series of Securities, the Company will, on or before each due date of the principal of
(and premium, if any) or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons
entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 
 The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an instrument in which
such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 
 (1)
hold all sums held by it for the payment of the principal of (and premium, if any), interest on or any Additional Amounts with respect to Securities of that series in trust for the benefit of the Persons entitled thereto until such sums shall be
paid to such Persons or otherwise disposed of as herein provided; 
 (2) give the Trustee notice of any default by the Company
(or any other obligor upon the Securities of that series) in the making of any payment of principal (and premium, if any), interest on or any Additional Amounts with respect to the Securities of that series; and 
 (3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums
so held in trust by such Paying Agent. 
 The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this
Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which sums
were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 
  

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 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 (and premium, if any) or interest on any Security of any series and remaining unclaimed for three years after such principal (and premium, if any) or interest has become due and payable shall, unless otherwise required by
mandatory provisions of applicable escheat, or abandoned or unclaimed property law, be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security 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 the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in an Authorized Newspaper in The Borough of Manhattan, The City of New York
and in such other Authorized Newspapers as the Trustee shall deem appropriate, notice that such money remains unclaimed and that, after a date specified herein, which shall not be less than 30 days from the date of such publication, any unclaimed
balance of such money then remaining will, unless otherwise required by mandatory provisions of applicable escheat, or abandoned or unclaimed property law, be repaid to the Company. 
 SECTION 1004. EXISTENCE. 
 Subject to Article VIII, the Company will do or cause to be done all things
necessary to preserve and keep in full force and effect its corporate existence. 
 SECTION 1005. STATEMENT BY OFFICERS AS TO DEFAULT. 
 The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers’ Certificate stating that a review of the
activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations
under this Indenture, and further stating, as to each such officer signing such certificate, that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is
not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he or she may have
knowledge and what action the Company is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of or
interest, if any, on the Securities is prohibited or if such event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto. 
 The Company shall, so long as any of the Securities are outstanding, deliver to the Trustee, forthwith and in any event within five days upon any officer
becoming aware of any Default or Event of Default or an event which, with notice or the lapse of time or both, would constitute an Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the
Company is taking or proposes to take with respect thereto. 
  

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 SECTION 1006. WAIVER OF CERTAIN COVENANTS. 
 The Company may omit in any particular instance to comply with any covenant or condition set forth in Section 1005, or any covenant added for the
benefit of any series of Securities as contemplated by Section 301 (unless otherwise specified pursuant to Section 301) if before or after the time for such compliance the Holders of a majority in principal amount of the Outstanding
Securities of all series affected by such omission (acting as one class) shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to
or affect such covenant or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such covenant or condition shall remain in
full force and effect. 
 SECTION 1007. ADDITIONAL AMOUNTS. 
 If the Securities of a series expressly provide for the payment of Additional Amounts, the Company will pay to the Holder of any Security of such series Additional Amounts as expressly provided therein. Whenever in
this Indenture there is mentioned, in any context, the payment of the principal of or any premium or interest on, or in respect of, any Security of any series or the net proceeds received from the sale or exchange of any Security of any series, such
mention shall be deemed to include mention of the payment of Additional Amounts provided for in this Section 1007 to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the
provisions of this Section 1007 and express mention of the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is
not made. 
 If the Securities of a series provide for the payment of Additional Amounts, at least 10 days prior to the first Interest
Payment Date with respect to that series of Securities (or if the Securities of that series will not bear interest prior to Maturity, the first day on which a payment of principal and any premium is made), and at least 10 days prior to each date of
payment of principal and any premium or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers’ Certificate, the Company shall furnish the Trustee and the Company’s principal Paying
Agent or Paying Agents, if other than the Trustee, with an Officers’ Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of and any premium or interest on the Securities of that series
shall be made to Holders of Securities of that series who are United States Aliens without withholding for or on account of any tax, assessment or other governmental charge described in the Securities of that series. If any such withholding shall be
required, then such Officers’ Certificate shall specify by country the amount, if any, required to be withheld on such payments to such Holders of Securities and the Company will pay to such Paying Agent the Additional Amounts required by this
Section. The Company covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against any loss, liability or expense reasonably incurred without negligence or bad faith on their part arising out of or in connection with
actions taken or omitted by any of them in reliance on any Officers’ Certificate furnished pursuant to this Section 1007. 
  

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 SECTION 1008. LIMITATION ON SENIOR SUBORDINATED INDEBTEDNESS. 
 The Company shall not, directly or indirectly, incur any Indebtedness that by its terms would expressly rank senior in right of payment to the Securities
of any series and expressly rank subordinate in right of payment to any Senior Indebtedness. 
 ARTICLE ELEVEN 
 REDEMPTION OF SECURITIES 
 SECTION 1101.
APPLICABILITY OF ARTICLE. 
 Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance
with their terms and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article. 
 SECTION 1102. ELECTION TO REDEEM; NOTICE TO TRUSTEE. 
 The election of the Company to redeem any Securities shall be
evidenced by a Board Resolution. In case of any redemption at the election of the Company of less than all the Securities of any series, the Company shall, a reasonable period prior to the Redemption Date fixed by the Company (unless a shorter
notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction
on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with such restriction. 
 SECTION 1103. SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED. 
 If less than all the Securities of any series are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding
Securities of such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and that may provide for the selection for redemption of portions (equal to the minimum authorized denomination for
Securities of that series or any integral multiple thereof) of the principal amount of Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series or of the principal amount of global
Securities of such series. 
 The Trustee shall promptly notify the Company and the Security Registrar in writing of the Securities selected
for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed. 
 For all
purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of
such Securities which has been or is to be redeemed. 
  

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 SECTION 1104. NOTICE OF REDEMPTION. 
 Notice of redemption shall be given in the manner provided in Section 107 to each Holder of Securities to be redeemed not less than 30 nor more than 60 days prior to the Redemption Date. 
 All notices of redemption shall state: 
 (1) the Redemption Date, 
 (2) the Redemption Price, 
 (3) if less than all the Outstanding Securities of any series are to be redeemed, the identification (and, in the case of partial
redemption, the principal amounts) of the particular Securities to be redeemed, 
 (4) that on the Redemption Date the
Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date, 
 (5) the place or places where such Securities are to be surrendered for payment of the Redemption Price, 
 (6) that the redemption is for a sinking fund, if such is the case, and 
 (7) the “CUSIP” number, if applicable. 
 A notice of redemption as contemplated by Section 107 need not identify particular Registered Securities to be redeemed. Notice of redemption of Securities to be redeemed at the election of the Company shall be
given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company. 
 SECTION 1105. DEPOSIT OF
REDEMPTION PRICE. 
 On or before 10:00 a.m., New York City time, on any Redemption Date, the Company shall deposit with the Trustee or
with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an
Interest Payment Date) accrued interest on and any Additional Amounts with respect to all the Securities to be redeemed on that date. 
 SECTION 1106.
SECURITIES PAYABLE ON REDEMPTION DATE. 
 Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on
the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear
interest. Upon surrender of any such Security for redemption in accordance with said notice, such Security shall 

  

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be paid by the Company at the Redemption Price, together with accrued interest (and any Additional Amounts) to the Redemption Date; PROVIDED, HOWEVER, that
installments of interest whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Record Dates
according to their terms and the provisions of Section 307. 
 If any Security called for redemption shall not be so paid upon surrender
thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security or, in the case of Original Issue Discount Securities, the Securities’ Yield
to Maturity. 
 SECTION 1107. SECURITIES REDEEMED IN PART. 
 Any Registered Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so requires, 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 his attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such
Security without service charge, a new Registered Security or Securities of the same series and Stated Maturity, of any authorized denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed
portion of the principal of the Security so surrendered. 
 SECTION 1108. PURCHASE OF SECURITIES. 
 Unless otherwise specified as contemplated by Section 301, the Company and any Affiliate of the Company may at any time purchase or otherwise acquire
Securities in the open market or by private agreement. Such acquisition shall not operate as or be deemed for any purpose to be a redemption of the indebtedness represented by such Securities. Any Securities purchased or acquired by the Company may
be delivered to the Trustee and, upon such delivery, the indebtedness represented thereby shall be deemed to be satisfied. Section 309 shall apply to all Securities so delivered. 
 ARTICLE TWELVE 
 SINKING FUNDS 
 SECTION 1201. APPLICABILITY OF ARTICLE. 
 The
provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of a series except as otherwise specified as contemplated by Section 301 for Securities of such series. 
 The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking
fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment”. Unless otherwise provided by the 

  

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terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking
fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series. 
 SECTION 1202.
SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES. 
 The Company (1) may deliver Outstanding Securities of a series (other than
any previously called for redemption), and (2) may apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional
sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as
provided for by the terms of such series; PROVIDED that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for
redemption through operation of the sinking fund and the amount of such sinking payment shall be reduced accordingly. 
 SECTION 1203. REDEMPTION OF
SECURITIES FOR SINKING FUND. 
 Not less than 45 days prior (unless a shorter period shall be satisfactory to the Trustee) to each sinking
fund payment date for any series of Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, the portion
thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivery of or by crediting Securities of that series pursuant to Section 1202 and will also deliver to the Trustee any
Securities to be so delivered. Not less than 30 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice
of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 1104. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner
stated in Sections 1106 and 1107. 
 ARTICLE THIRTEEN 
 MEETINGS OF HOLDERS OF SECURITIES 
 SECTION 1301. PURPOSES FOR WHICH MEETINGS MAY BE CALLED. 
 A meeting of Holders of Securities of any or all series may be called at any time and from time to time pursuant to this Article to make, give or take any
request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be made, given or taken by Holders of Securities of such series. 
  

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 SECTION 1302. CALL, NOTICE AND PLACE OF MEETINGS. 
 (a) The Trustee may at any time call a meeting of Holders of Securities of any series for any purpose specified in Section 1301, to
be held at such time and at such place in Dallas, Texas, in The Borough of Manhattan, The City of New York, or in any other location, as the Trustee shall determine. Notice of every meeting of Holders of Securities of any series, setting forth the
time and the place of such meeting and in general terms the action proposed to be taken at such meeting, shall be given, in the manner provided in Section 107, not less than 20 nor more than 180 days prior to the date fixed for the meeting.

 (b) In case at any time the Company, pursuant to a Board Resolution, or the Holders of at least 10% in aggregate principal
amount of the Outstanding Securities of any series, shall have requested the Trustee for any such series to call a meeting of the Holders of Securities of such series for any purpose specified in Section 1301, by written request setting forth
in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have made the first publication of the notice of such meeting within 30 days after receipt of such request or shall not thereafter proceed to cause the
meeting to be held as provided herein, then the Company or the Holders of Securities of such series in the amount above specified, as the case may be, may determine the time and the place in Dallas, Texas or in The Borough of Manhattan, The City of
New York for such meeting and may call such meeting for such purposes by giving notice thereof as provided in Subsection (a) of this Section. 
 SECTION 1303. PERSONS ENTITLED TO VOTE AT MEETINGS. 
 To be entitled to vote at any meeting of Holders of Securities of any
series, a Person shall be (1) a Holder of one or more Outstanding Securities of such series, or (2) a Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Securities of such series by
such Holder or Holders. The only Persons who shall be entitled to be present or to speak at any meeting of Holders of Securities of any series shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the
Trustee and its counsel and any representatives of the Company and its counsel. 
 SECTION 1304. QUORUM; ACTION. 
 The Persons entitled to vote a majority in aggregate principal amount of the Outstanding Securities of a series shall constitute a quorum for a meeting of
Holders of Securities of such series. In the absence of a quorum within 30 minutes of the time appointed for any such meeting, the meeting shall, if convened at the request of Holders of Securities of such series, be dissolved. In any other case,
the meeting may be adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further
adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting. Subject to Section 1305(d), notice of the reconvening of any adjourned meeting shall be given as
provided in Section 1302(a), except that such notice need be given only once not less than five days prior to the date on which the meeting is scheduled to be reconvened. Notice of the reconvening of an adjourned meeting shall state expressly
that Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series shall constitute a quorum. 
  

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 Except as limited by the proviso to Section 902, any resolution presented to a meeting or adjourned
meeting duly reconvened at which a quorum is present as aforesaid may be adopted by the affirmative vote of the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series; PROVIDED, HOWEVER, that, except as
limited by the proviso to Section 902, any resolution with respect to any request, demand, authorization, direction, notice, consent or waiver which this Indenture expressly provides may be made, given or taken by the Holders of a specified
percentage that is less than a majority in aggregate principal amount of the Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote
of the Holders of such specified percentage in aggregate principal amount of the Outstanding Securities of that series. 
 Except as limited
by the fourth paragraph of Section 902, any resolution passed or decision taken at any meeting of Holders of Securities of any series duly held in accordance with this Section shall be binding on all the Holders of Securities of such series,
whether or not present or represented at the meeting. 
 SECTION 1305. DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF MEETINGS.

 (a) The holding of Securities shall be proved in the manner specified in Section 105 and the appointment of any
proxy shall be proved in the manner specified in Section 105. Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in Section 105 or
other proof. 
 (b) The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the
meeting shall have been called by the Company or by Holders of Securities as provided in Section 1302(b), in which case the Company or the Holders of Securities of the series calling the meeting, as the case may be, shall appoint a temporary
chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in aggregate principal amount of the Outstanding Securities of such series represented at the meeting.

 (c) At any meeting each Holder of a Security of such series and each proxy shall be entitled to one vote for each $1,000
principal amount (or such other amount of the minimum denomination of any series of Securities as may be provided in the establishment of such series as contemplated by Section 301 hereof) of the Outstanding Securities of such series held or
represented by him; PROVIDED, HOWEVER, that no vote shall be cast or counted at any meeting in respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall
have no right to vote, except as a Holder of a Security of such series or as a proxy. 
 (d) Any meeting of Holders of
Securities of any series duly called pursuant to Section 1302 at which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority in aggregate principal amount of the Outstanding Securities of such series
represented at the meeting; and the meeting may be held as so adjourned without further notice. 
  

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 SECTION 1306. COUNTING VOTES AND RECORDING ACTION OF MEETINGS. 
 The vote upon any resolution submitted to any meeting of Holders of Securities of any series shall be by written ballots on which shall be subscribed the
signatures of the Holders of Securities of such series or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding Securities of such series held or represented by them. The permanent chairman of the meeting
shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the
meeting. A record, at least in duplicate, of the proceedings of each meeting of Holders of Securities of any series shall be prepared by the secretary of the meeting and there shall be attached to such record the original reports of the inspectors
of votes on any vote by ballot taken thereat and affidavits by one or more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that such notice was given as provided in Section 1302 and, if
applicable, Section 1304. Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy shall be delivered to the Company, and another to the Trustee to be preserved by the
Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters therein stated. 
 * * * 
 This instrument may be executed in any number of counterparts, each of which so
executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
 ARTICLE
FOURTEEN 
 SUBORDINATION 
 SECTION
1401. AGREEMENT TO SUBORDINATE. 
 The Company agrees, and each Holder by accepting a Security agrees, that the payment of principal of,
premium, if any, and interest on, and all other amounts payable in respect of, the Securities is subordinated in right of payment, to the extent and in the manner provided in this Article XIV and subject to the provisions of Article IV hereof, to
the payment when due in cash of all Senior Indebtedness of the Company and that the subordination is for the benefit of and enforceable by the holders of such Senior Indebtedness. All provisions of this Article XIV shall be subject to
Section 1411. All references to “Senior Indebtedness” in this Article XIV are to Senior Indebtedness of the Company. 
 SECTION 1402.
LIQUIDATION, DISSOLUTION, BANKRUPTCY. 
 (a) Upon any payment or distribution of the assets of the Company to creditors upon a
liquidation, dissolution or winding up of the Company or in a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company or its property or upon an 

  

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assignment for the benefit of the Company’s creditors or the marshaling of its assets and liabilities, the holders of Senior Indebtedness will be
entitled to receive payment in full in cash before the Holders of the Securities are entitled to receive any payment of principal of, premium, if any, or interest on, the Securities, except that Holders of Securities may receive and retain such
payments from the trust described in Article IV hereof; and 
 (b) Until the Senior Indebtedness is paid in full in cash, any distribution to
which Holders of the Securities would be entitled but for this Article XIV will be made to holders of the Senior Indebtedness as their interests may appear, except that Holders of Securities may receive and retain payments and other distributions
made from the trust described in Article IV hereof and Holders may receive shares of stock and any debt securities that are subordinated to Senior Indebtedness to at least the same extent as the Securities. 
 SECTION 1403. DEFAULT ON SENIOR INDEBTEDNESS. 
 Pursuant to Section 301, an indenture supplemental hereto to which Securities are issued or the Board Resolution by which the terms of the Securities are set forth shall set forth the terms and conditions under which, if any, the
Company shall not make or pay, and the Holder of Securities shall not accept or receive, payments with respect to the Securities upon the occurrence of an event of default or other circumstances arising under or with respect to Senior Indebtedness.

 SECTION 1404. WHEN DISTRIBUTION MUST BE PAID OVER. 
 If a payment or distribution is made to Holders that because of this Article XIV should not have been made to them, the Trustee or the Holders who receive the distribution shall hold it in trust for holders of Senior
Indebtedness (pro rata as to each of such holders of Senior Indebtedness on the basis of the respective amounts of Senior Indebtedness paid to them) and pay it over to them or their Representative as their interests may appear. 
 SECTION 1405. SUBROGATION. 
 After all Senior
Indebtedness is paid in full and until the Securities are paid in full, Holders shall be subrogated to the rights of holders of Senior Indebtedness to receive distributions applicable to Senior Indebtedness to the extent that distributions otherwise
payable to the Holders have been applied to the payment of Senior Indebtedness. A distribution made under this Article XIV to holders of Senior Indebtedness that otherwise would have been made to Holders is not, as between the Company and Holders, a
payment by the Company on such Senior Indebtedness. 
 SECTION 1406. RELATIVE RIGHTS. 
 This Article XIV defines the relative rights of Holders and holders of Senior Indebtedness. Nothing in this Indenture shall: 
 (a) impair, as between the Company and Holders, the obligation of the Company, which is absolute and unconditional, to pay principal of,
premium, if any, and interest on, the Securities in accordance with their terms; 
  

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 (b) affect the relative rights of Holders and creditors of the Company other then their
rights in relation to holders of Senior Indebtedness; or 
 (c) prevent the Trustee or any Holder from exercising its
available remedies upon a Default or an Event of Default, subject to the rights of holders of Senior Indebtedness to receive distributions otherwise payable to Holders. 
 SECTION 1407. SUBORDINATION MAY NOT BE IMPAIRED BY COMPANY. 
 No right of any holder of Senior
Indebtedness to enforce the subordination of the indebtedness evidenced by the Securities shall be impaired by any act or failure to act by the Company or by its failure to comply with this Indenture. 
 SECTION 1408. RIGHTS OF TRUSTEE AND PAYING AGENT. 
 Notwithstanding Section 1403, the Trustee or Paying Agent may continue to make payments on the Securities and shall not be charged with knowledge of the existence of facts that would prohibit the making of any such payments unless, not
less than two Business Days prior to the date of such payment, a Responsible Officer receives written notice satisfactory to it that payments may not be made under this Article XIV. The Company, the Registrar or co-registrar, the Paying Agent, a
Representative or a holder of Senior Indebtedness may give the notice; provided, however, that, if an issue of Senior Indebtedness has a Representative, only the Representative may give the notice. 
 The Trustee in its individual or any other capacity may hold Senior Indebtedness with the same rights it would have if it were not Trustee. The Registrar
and co-registrar and the Paying Agent may do the same with like rights. The Trustee shall be entitled to all the rights set forth in this Article XIV with respect to any Senior Indebtedness that may at any time be held by it, to the same extent as
any other holder of Senior Indebtedness; and nothing in Article VI shall deprive the Trustee of any of its rights as such holder. Nothing in this Article XIV shall apply to claims of, or payments to, the Trustee under or pursuant to
Section 607. 
 SECTION 1409. DISTRIBUTION OR NOTICE TO REPRESENTATIVE. 
 Whenever a distribution is to be made or a notice given to holders of Senior Indebtedness, the distribution may be made and the notice given to their
Representative (if any). 
 SECTION 1410. ARTICLE XIV NOT TO PREVENT EVENTS OF DEFAULT OR LIMIT RIGHT TO ACCELERATE. 
 Nothing in this Article XIV shall prevent an Event of Default in accordance with Article V or have any effect on the right of the Holders or the Trustee
to accelerate the maturity of the Securities or to exercise the rights and remedies in Article V. 
  

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 SECTION 1411. TRUST MONEYS NOT SUBORDINATED. 
 Notwithstanding anything contained herein to the contrary, payments from cash or the proceeds of non-callable U.S. Government Obligations held in trust
under Article IV by the Trustee for the payment of principal of and interest on the Securities shall not be subordinated to the prior payment of any Senior Indebtedness or subject to the restrictions set forth in this Article XIV, and none of the
Holders shall be obligated to pay over any such amount to the Company or any holder of Senior Indebtedness or any other creditor of the Company. 
 SECTION 1412. TRUSTEE ENTITLED TO RELY. 
 Upon any payment or distribution pursuant to this Article XIV, the Trustee and the
Holders shall be entitled to rely (a) upon any order or decree of a court of competent jurisdiction in which any proceedings of the nature referred to in Section 1402 are pending, (b) upon a certificate of the liquidating trustee or
agent or other Person making such payment or distribution to the Trustee or to the Holders or (c) upon a certificate of the Representative of the holders of Senior Indebtedness or, if there is no Representative, the holders of Senior
Indebtedness for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts
paid or distributed thereon and all other facts pertinent thereto or to this Article XIV. In the event that the Trustee determines, in good faith, that evidence is required with respect to the right of any Person as a holder of Senior Indebtedness
to participate in any payment or distribution pursuant to this Article XIV, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of such Senior Indebtedness held by such Person, the
extent to which such Person is entitled to participate in such payment or distribution and other facts pertinent to the rights of such Person under this Article XIV, and, if such evidence is not furnished, the Trustee may defer any payment to such
Person pending judicial determination as to the right of such Person to receive such payment. The provisions of Sections 601 and 603 shall be applicable to all actions or omissions of actions by the Trustee pursuant to this Article XIV. 

SECTION 1413. TRUSTEE TO EFFECTUATE SUBORDINATION. 
 Each Holder by accepting a Security authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination between the Holders and the holders of Senior
Indebtedness as provided in this Article XIV and appoints the Trustee as attorney-in-fact for any and all such purposes. 
 SECTION 1414. TRUSTEE NOT
FIDUCIARY FOR HOLDERS OF SENIOR INDEBTEDNESS. 
 The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior
Indebtedness and shall not be liable to any such holders if it shall mistakenly pay over or distribute to Holders or the Company or any other Person, money or assets to which any holders of Senior Indebtedness shall be entitled by virtue of this
Article XIV or otherwise, except if such mistake was the result of the Trustee’s gross negligence or willful misconduct. 
  

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 SECTION 1415. RELIANCE BY HOLDERS OF SENIOR INDEBTEDNESS ON SUBORDINATION PROVISIONS. 
 Each Holder by accepting a Security acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a
consideration to each holder of any Senior Indebtedness, whether such Senior Indebtedness was created or acquired before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness and
such holder of such Senior Indebtedness shall be deemed conclusively to have relied on, and is a third party beneficiary of, such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness.

 SECTION 1416. ADDITIONAL SUBORDINATION TERMS. 
 Pursuant to Section 301, the indenture supplemental hereto pursuant to which Securities are issued or the Board Resolutions in which the terms of the Securities are set forth may set forth additional subordination provisions and terms.

 [Signatures on following page] 
  

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

			
	PILGRIM’S PRIDE CORPORATION
		
	By:	 	 /s/ Richard A Cogdill

	Name:	 	Richard A. Cogdill
	Title:	 	Executive Vice President, Chief Financial Officer, Secretary and Treasurer
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 as Trustee

		
	By:	 	 /s/ Patrick T. Giordano

	Name:	 	Patrick T. Giordano
	Title:	 	Vice President

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