Document:

Exhibit 10.4

 

TRADEMARK LICENSE AGREEMENT

 

This TRADEMARK LICENSE AGREEMENT (this “Agreement”) dated as of August 30, 2013 (the “Effective Date”) between Murphy Oil Corporation, a Delaware corporation (“Licensor”), and Murphy USA Inc., a Delaware corporation (“Licensee”, and each of Licensor and Licensee, a “Party”).

 

WITNESSETH:

 

WHEREAS, Licensor will contribute to Licensee, its wholly-owned Subsidiary, all of Licensor’s shares in Murphy Oil USA, Inc. (“Murphy Oil USA”) in connection with the spin-off of Licensee into an independent and separately traded company (the “Spin-Off”) that is engaged, indirectly through Murphy Oil USA, in the business of retail marketing of petroleum products and convenience merchandise through a chain of retail gasoline stations (the “Retail Business”) and operating production distribution terminals and ethanol production facilities (together with the Retail Business, the “Business”);

 

WHEREAS, in connection with the Spin-Off, Murphy Oil USA will assign to Licensor all of its right, title and interest in and to certain trademarks, including the Licensed Marks (as defined below); and

 

WHEREAS, subject to the terms and conditions set forth herein, Licensee desires to obtain, and Licensor is willing to grant to Licensee, a license to use the Licensed Marks in the conduct of the Business.

 

NOW, THEREFORE, for the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

ARTICLE 1

Definitions

 

Section 1.01.  Definitions.  (a) The following terms, as used herein, have the following meanings:

 

“Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with such Person.  For purposes of this definition, “control” when used with respect to any 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 correlative meanings.

 

“Applicable Law” means, with respect to any Person, any transnational, domestic or foreign federal, state or local law (statutory, common or otherwise), constitution, treaty, convention, ordinance, code, rule, permit, approval, regulation, order, injunction, judgment, decree, ruling or other similar requirement enacted, adopted or promulgated or applied by a Governmental Authority that is binding upon or applicable to such Person.

 

“Business Day” means a day, other than Saturday, Sunday or any other day on which commercial banks in New York, New York are authorized or required by Applicable Law to close.

 

“Change of Control” means, with respect to Licensee or Murphy Oil USA, the occurrence of any of the following: (i) a “Person” (as such term is used in Sections 13(d) and 14(d)(2) of the Exchange Act) becomes a beneficial owner, directly or indirectly, of equity representing fifty percent (50%) or more of the total voting power of Licensee’s or Murphy Oil USA’s, as applicable, then outstanding equity capital; (ii) such entity merges into, is consolidated with or effects an amalgamation with another Person, or merges another Person into such entity, on a basis whereby less than fifty percent (50%) of the total voting power of the surviving Person immediately after such merger, consolidation or amalgamation is represented by equity held directly or indirectly by former equityholders of (and in respect of their former equity holdings in) such entity immediately prior to such merger, consolidation or amalgamation; and (iii) such entity directly or indirectly sells, transfers or exchanges all, or substantially all, of its assets to another Person unless at least fifty percent (50%) of the total voting power of the transferee is directly or indirectly owned by the equityholders of Licensee or Murphy Oil USA, as applicable, in respect of their former equity holdings in Licensee or Murphy Oil USA immediately prior to transfer; provided that in no event shall the consummation, execution or closing of the Spin-Off constitute a Change of Control with respect to Licensee or Murphy Oil USA.

 

“Excluded Marks” means the trademark “MURPHY” and the Rowel Design, in each case whether used on a standalone basis or in connection with any other trademark, design, company name, trade name, domain name or other source identifier (other than as specifically used in the trademarks set forth in Exhibit B).  For the avoidance of doubt, the Excluded Marks shall include the trademarks set forth in Exhibit A.

 

“Governmental Authority” means any transnational, domestic or foreign federal, state or local governmental authority, instrumentality, court, legislative body, government organization, commission, tribunal or regulatory or administrative agency, or any political or other subdivision, department or branch of any of the foregoing.

 

  

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“Licensed Marks” means the trademarks set forth (and only as set forth) in Exhibit B, including the registrations and applications for registration set forth in Exhibit B.  For the avoidance of doubt, the Licensed Marks shall not include any trademark that is derivative of the trademarks set forth in Exhibit B or any Excluded Mark.

 

“Person” means an individual, corporation, partnership, limited liability company, association, trust or other entity or organization, including a governmental authority.

 

“Rowel Design” means the design set forth in Exhibit C.

 

“Subsidiary” means, with respect to any Person, any entity of which such Person owns, directly or indirectly, securities or other ownership interests having ordinary voting power to elect a majority of the board of directors or other persons performing similar functions.

 

(b)      Each of the following terms is defined in the Section set forth opposite such term:

 

	
Term

	
Section

	
Administrative Agent

	
Section 2.02(b)

	
Agent

	
Section 2.02(b)

	
Agreement

	
Preamble

	
Business

	
Recitals

	
Credit Agreement

	
Section 2.02(b)

	
Effective Date

	
Preamble

	
Financing Agreements

	
Section 2.02(b)

	
Insolvency Proceedings

	
5.03

	
License

	
2.01

	
Licensee

	
Preamble

	
Licensor

	
Preamble

	
Murphy Oil USA

	
Recitals

	
Party

	
Preamble

	
Retail Business

	
Recitals

	
Spin-Off

	
Recitals

	
Term

	
5.01

	
Trademark Claims

	
4.03

Section 1.02.  Other Definitional and Interpretative Provisions.  The words “hereof”, “herein” and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.  The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.  References to Articles, Sections and Exhibits are to Articles, Sections and Exhibits of this Agreement unless otherwise specified.  All Exhibits annexed

 

  

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hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein.  Any capitalized terms used in any Exhibit but not otherwise defined therein shall have the respective meanings given to them in this Agreement.  Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular.  Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”, whether or not they are in fact followed by those words or words of like import.  “Writing”, “written” and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.

 

ARTICLE 2

License

 

Section 2.01.  Grant of License.  Subject to the terms and conditions set forth herein, Licensor hereby grants to Licensee a worldwide, exclusive (subject to Section 2.03), non-transferable (except as otherwise set forth in Section 6.01), non-sublicensable (except as otherwise set forth in Section 2.02), royalty-free, fully paid-up license to use the Licensed Marks solely in connection with the conduct of the Business during the Term (the “License”).  For the avoidance of doubt, subject to the terms and conditions contained herein, the License shall include (i) Licensee’s right to use “Murphy USA Inc.”, (ii) Murphy Oil USA’s right to use “Murphy Oil USA, Inc.” and (iii) Murphy Oil Trading Company (Eastern)’s right to use “Murphy Oil Trading Company (Eastern)”, in each case, as their respective corporate names during the Term.

 

Section 2.02.  Sublicense Rights. (a) The License shall include the right of Licensee to grant sublicenses to its Subsidiaries; provided that any such sublicense shall terminate immediately upon the applicable sublicensee ceasing to be a Subsidiary of Licensee.  Any such sublicense shall be evidenced in writing, contain terms and conditions that are no less restrictive on the applicable sublicensee’s use of the Licensed Marks than the terms and conditions in this Agreement and be provided in written form to Licensor as soon as is reasonably practicable following the grant of such sublicense.

 

(b)      Licensee has entered into a Credit Agreement (as amended or extended from time to time, the “Credit Agreement”) with certain lenders and JPMorgan Chase Bank, N.A., as Administrative Agent for such lenders (in such capacity, and together with its successors, the “Administrative Agent”) and may in the future enter into one or more other credit agreements or other financing agreements (together with the Credit Agreement, “Financing Agreements”).  The obligations of Licensee and its Subsidiaries under the Credit Agreement are secured, and the obligations of Licensee and its Subsidiaries under one or more other Financing Agreements may be secured, by security interests in inventory of Licensee and its Subsidiaries.  Licensor hereby consents to the grant by Licensee and/or Murphy Oil USA to the Administrative Agent, and to any financial institution serving as agent or trustee under any other Financing Agreement (the 

 

 

  

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Administrative Agent and any such other agent or trustee being called an “Agent”), of a sublicense to use the Licensed Marks in a manner consistent with their use by Licensee and its Subsidiaries and solely to liquidate inventory pledged to such Agent as collateral under the applicable Financing Agreement during a period of 180 days immediately following the commencement by such Agent of any exercise of remedies permitted under such Financing Agreement with respect to such collateral (such period to be extended for a period equal to any period that such Agent is subject to the automatic stay or a court order preventing or enjoining it from liquidating such collateral).  Any such sublicense shall be evidenced in writing, contain terms and conditions that are no less restrictive on the applicable sublicensee’s use of the Licensed Marks than the terms and conditions in this Agreement and be provided in written form to Licensor as soon as is reasonably practicable following the grant of such sublicense.  Licensor further agrees for the benefit of each Agent and the secured parties for which such Agent acts, and notwithstanding any other provision of this Agreement, that the rights of such Agent under any such sublicense shall continue in effect in accordance with the terms and conditions set forth above notwithstanding any termination of this Agreement or the License pursuant to Article 5 hereof.

 

Section 2.03.  U.K. Downstream Business.  The Parties hereby acknowledge that Licensor will engage, directly or indirectly, in the conduct of the Business in the United Kingdom following the Spin-Off.  Notwithstanding anything in this Agreement to the contrary, Licensor shall be permitted to use, and license or otherwise allow others (including acquirers of or successors to the Business as conducted by Licensor in the United Kingdom) to use, “Murco” and any derivative thereof that does not include the term “USA” in connection with the conduct of the Business in the United Kingdom.

 

ARTICLE 3

Ownership and Use of Licensed Marks

 

Section 3.01.  Ownership of Licensed Marks; Reservation of Rights.  (a) Licensee hereby acknowledges that (i) the License is the only license granted to Licensee or any of its Affiliates with respect to the Licensed Marks and (ii) no other licenses whatsoever have been granted, expressly or by implication or estoppel, to Licensee or any of its Affiliates by the provisions of this Agreement.  Neither this Agreement nor its performance shall confer on Licensee or any of its Affiliates any right with respect to the Licensed Marks other than those rights expressly granted herein, and any and all rights in and to the Licensed Marks not expressly granted to Licensee herein are reserved and retained by Licensor, as is the right to use any Excluded Mark or any trademark that contains the term “Murphy” or the Rowel Design other than the Licensed Marks in any manner (subject to Section 3.05).  Any use of the Licensed Marks by Licensee or any of its Affiliates pursuant to the License shall inure to the benefit of Licensor.

 

  

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(b)      Licensee shall not, and shall cause its Affiliates to not, (i) challenge the validity or ownership of the Licensed Marks, the Excluded Marks or any other marks of Licensor or its Affiliates or claim adversely or assist in any claim adverse to Licensor concerning any right, title or interest in or to the Licensed Marks or the Excluded Marks, (ii) do or permit any act which may directly or indirectly impair or prejudice Licensor’s title to the Licensed Marks or Excluded Marks or be detrimental to the reputation and goodwill of Licensor, (iii) register or attempt to register any trademark, design, company name, trade name, domain name or other source identifier that is derivative of, confusingly similar to or contains any Licensed Mark or Excluded Mark or (iv) use or attempt to use any trademark, design, company name, trade name, domain name or other source identifier (other than the Licensed Marks) that is derivative of, confusingly similar to or contains any Excluded Mark.

 

Section 3.02.  Appearance of the Licensed Marks; Quality Control.  Licensee shall use the Licensed Marks only in the form stipulated by Licensor and shall conform to and observe such standards as Licensor from time to time prescribes, including standards relative to the quality, design, identity, size, position, appearance, marking and color of the Licensed Marks and the manner, disposition and use of the Licensed Marks.  All goods and services provided by Licensee under the Licensed Marks shall at all times be provided in compliance with Applicable Law and in a manner consistent with the quality of goods and services provided by Licensor and its Affiliates under the Licensed Marks as of immediately prior to the Effective Date.  Licensor shall have the right to inspect any written or electronic materials bearing any Licensed Mark.

 

Section 3.03.  Prosecution and Maintenance.  Licensor shall, reasonably promptly following Licensee’s request and at Licensee’s sole cost and expense, take all such actions as Licensee may reasonably request to prosecute and maintain any registration or application for registration of any Licensed Mark.

 

Section 3.04.  Third Party Notices.  If requested in writing by Licensor, Licensee shall ensure that any written or electronic materials bearing a Licensed Mark includes a written statement to the effect that such Licensed Mark is used by Licensee under license from Licensor.

 

Section 3.05.  Licensor’s Use of Marks.  Subject to Section 2.03, Licensor shall not, and shall cause its Affiliates to not, use the Licensed Marks, the Excluded Marks or any trademark containing the term “Murphy” or the Rowel Design within the field of the Retail Business during the Term.

 

Section 3.06.  Fair Use.  For the avoidance of doubt, nothing in this Agreement shall restrict or limit either Party’s right to make any use of any term or trademark that constitutes fair use under Applicable Law or factual use for historical or reference purposes.

 

  

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ARTICLE 4

Claims and Liability

 

Section 4.01.  Disclaimers; Limitation of Liability.  NOTWITHSTANDING ANYTHING IN THIS AGREEMENT TO THE CONTRARY, THE LICENSE IS GRANTED ON AN “AS IS” BASIS WITH NO REPRESENTATIONS OR WARRANTIES, AND EACH PARTY, ON BEHALF OF ITSELF AND ITS AFFILIATES, HEREBY EXCLUDES AND DISCLAIMS ANY EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES OF ANY KIND WITH RESPECT TO THE LICENSE, INCLUDING THOSE REGARDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT AND ANY WARRANTIES IMPLIED BY ANY COURSE OF DEALING OR TRADE USAGE.  NEITHER PARTY NOR ANY OF ITS AFFILIATES SHALL BE LIABLE UNDER ANY LEGAL OR EQUITABLE THEORY FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES OF ANY KIND IN CONNECTION WITH THIS AGREEMENT EVEN IF THE OTHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

 

Section 4.02.  Infringement of Licensed Marks by Third Party. Licensee shall promptly notify Licensor of any unauthorized or improper use by any Person of any Licensed Marks, including in such notice the particulars of such use and any other information that Licensee and its Affiliates may have relating to such use, and reasonably cooperate with Licensor, at Licensee’s sole cost and expense, in connection with any action Licensor may take to prevent or halt such use.  In the event that Licensor does not take reasonable action to halt any such use related to the Business within a reasonable period of time following such notice, Licensee may take reasonable action to prevent or halt such use, and Licensor shall reasonably cooperate with Licensee, at Licensee’s sole cost and expense, in connection with any such action of Licensee.

 

Section 4.03.  Third Party Actions.  Licensee shall promptly notify Licensor of any allegations, claims or demands (actual or threatened) against Licensee or any of its Affiliates for infringement of any intellectual property rights of third parties by reason of Licensee’s or its Affiliates’ use of the Licensed Marks (collectively, “Trademark Claims”) and provide all related particulars requested by Licensor.  Licensor shall retain exclusive control over the resolution of any Trademark Claim, including the right to agree to an injunction against further use of any Licensed Mark at issue or to otherwise settle such Trademark Claim; provided that such settlement shall not require any payment by Licensee without Licensee’s prior written consent.  In the event that Licensor does not take reasonable action to resolve a Trademark Claim within a reasonable period of time following such notice, Licensee may assume exclusive control over such Trademark Claim (but solely to the extent such Trademark Claim relates to allegations, claims or demands (actual or threatened) against Licensee or any of its Affiliates), including the right to agree to an injunction against further use of

 

  

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any Licensed Mark at issue by Licensee or any of its Affiliates or to otherwise settle such Trademark Claim with respect to Licensee and its Affiliates; provided that such settlement shall not bind or apply to Licensor in any manner without Licensor’s prior written consent.  Subject to the foregoing and at Licensee’s sole cost and expense, each Party shall provide to the other Party such assistance as such other Party may reasonably request in connection with the defense or settlement of any Trademark Claim.

Section 4.04.  Indemnification.  Licensee shall indemnify, defend and hold harmless Licensor, its Affiliates and their respective directors, officers, employees and agents from and against any damages, losses, liabilities, fines, penalties and expenses (including reasonable costs of investigation and reasonable attorneys’ fees in connection with any action, suit or proceeding) related to or arising out of the use of the Licensed Marks by Licensee or any of its Affiliates or the exercise of Licensee’s rights and obligations under this Agreement.

 

ARTICLE 5

Term and Termination

 

Section 5.01.  Term.  This Agreement is effective as of the Effective Date and shall continue in full force and effect in perpetuity unless terminated in accordance with Section 5.02 or Section 5.03 (the “Term”).

 

Section 5.02.  Termination by Licensee.  Licensee may terminate this Agreement at any time immediately upon written notice to Licensor.

 

Section 5.03.  Termination by Licensor.  Licensor may terminate this Agreement immediately upon written notice to Licensee upon the occurrence of any of the following:

 

(a)      a material breach of any provision of this Agreement by Licensee or any of its Affiliates and failure to fully cure such breach within 30 days after Licensor’s provision of written notice to Licensee of such breach; 

 

(b)      a Change of Control of Licensee or Murphy Oil USA; and

 

(c)      with respect to Licensee or any of its Affiliates, (i) the voluntary commencement of any proceeding (all of which proceedings are hereinafter collectively referred to as “Insolvency Proceedings”) under the United States Bankruptcy Code or any other law of any jurisdiction for the relief, liquidation or rehabilitation of debtors, (ii) the involuntary commencement of an Insolvency Proceeding that is not dismissed within ninety (90) days after the filing thereof, or (iii) the appointment of or taking of possession by a receiver, custodian, trustee, liquidator or similar official.

 

Section 5.04.  Effect of Termination; Survival.  Upon expiration or termination of this Agreement, the License shall immediately terminate without

 

  

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any further action by Licensor, and Licensee shall, and shall cause each of its Affiliates to, cease using the Licensed Marks in any form.  Notwithstanding anything in this Agreement to the contrary, Sections Section 2.02(b), 3.01(a), 4.01, 4.04 and 5.04 and Article 6 shall survive any expiration or termination of this Agreement.

ARTICLE 6

General

 

Section 6.01.  Successors and Assigns.  The provisions of this Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns; provided that, except as expressly set forth in Section 2.02, Licensee may not assign, delegate or otherwise transfer this Agreement or any of its rights or obligations hereunder without the express prior written consent of Licensor.

 

Section 6.02.  Notices. All notices, requests and other communications to any Party shall be in writing (including facsimile and email transmission) and shall be given,

 

if to Licensee, to:

 

Murphy USA Inc.

200 Peach Street

P.O. Box 7000

El Dorado, Arkansas 71731

Attn: John Moore

Facsimile: 870-864-6489

 

with a copy to:

 

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, New York 10017

Attn: William L. Taylor, Esq.

Facsimile: (212) 701-5800

 

if to Licensor, to:

 

Murphy Oil Corporation

200 Peach Street

P.O. Box 7000

El Dorado, Arkansas 71731

Attn: Walter Compton

Facsimile: 870-881-6893

with a copy to:

  

9

  

Davis Polk & Wardwell LLP

450 Lexington Avenue

New York, New York 10017

Attn: William L. Taylor, Esq.

Facsimile: (212) 701-5800

 

or such other address, facsimile number or email address as such Party may hereafter specify for the purpose by notice to the other Party.  All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. in the place of receipt and such day is a Business Day.  Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding Business Day.

 

Section 6.03.  Specific Performance.  The Parties acknowledge that money damages are not an adequate remedy for any violation of this Agreement and that either Party may, in its sole discretion, apply to the courts set forth in Section 6.05 for specific performance, or injunctive or such other relief as such courts may deem just and proper, in order to enforce this Agreement or prevent any violation hereof, and to the extent permitted by Applicable Law, each Party waives the posting of bond and any objection to the imposition of such relief.

 

Section 6.04.  Amendments and Waivers.  (a) Any provision of this Agreement may be amended or waived if, and only if, such amendment or waiver is in writing and signed, in the case of an amendment, by each of the Parties or, in the case of a waiver, by the Party against whom the waiver is to be effective.

 

(b)      No failure or delay by any Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.  The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by Applicable Law.

 

Section 6.05.  Governing Law and Jurisdiction.  This Agreement shall be subject to and governed by the laws of the State of New York without regard to the conflict of law rules of such state.  Each Party hereby submits and consents to the jurisdiction of the state and federal courts in the State of New York and to venue in New York, New York.

 

Section 6.06.  Counterparts.  This Agreement may be signed in any number of counterparts, each of which shall be deemed an original and all of which, when taken together, shall constitute one agreement.

 

Section 6.07.  No Third Party Beneficiaries.  Except as provided in Section 2.02(b), no provision of this Agreement is intended to confer any rights, benefits,

 

  

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remedies, obligations or liabilities hereunder upon any Person other than the Parties and their respective successors and permitted assigns.

 

Section 6.08.  Entire Agreement.  This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements, understandings and negotiations, both oral and written, among the Parties with respect to the subject matter hereof.  For the avoidance of doubt, the Parties acknowledge and agree that the transactions contemplated in connection with the Spin-Off, together with the transactions contemplated by this Agreement, collectively constitute a single and integrated transaction.

 

Section 6.09.  Severability.  If any provision of this Agreement or any part thereof shall be determined to be invalid or unenforceable, such invalidity or unenforceability shall not render the entire Agreement invalid.  Rather, the Agreement shall be construed as if not containing the particular invalid or unenforceable provision, and the rights and obligations of each Party shall be construed and enforced accordingly.

 

[remainder of page intentionally left blank]

 

  

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IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the date first written above.

 

	
MURPHY OIL CORPORATION

	
By:

	
/s/ Walter K. Compton

	  	
Name:

	
Walter K. Compton

	  	
Title:

	
Senior Vice President and General Counsel

 

	
MURPHY USA INC.

	
By:

	
/s/ John A. Moore

	  	
Name:

	
John A. Moore

	  	
Title:

	
Senior Vice President, General Counsel and Secretary

 

 

 

 

 

[Signature Page to Trademark License Agreement]

  

  

  

Exhibit A

Excluded Marks

 

Murphy Oil Corporation

Murphy Gas Gathering Inc.

Arkansas Oil Company

Murphy Crude Oil Marketing

Caledonia Land Company

El Dorado Engineering Inc.

El Dorado Contractors Inc.

Marine Land Company

Murphy Eastern Oil Company

Murphy Exploration & Production Company

Mentor Holding Corporation

Mentor Excess and Surplus Lines Insurance Company

MIRC Corporation

Murphy Building Corporation

Murphy Exploration & Production Company – International

Canam Offshore Limited

Canam Brunei Oil Ltd.

Murphy Peninsular Malaysia Oil Co., Ltd.

Murphy Sabah Oil Co., Ltd.

Murphy Sarawak Oil Co., Ltd.

El Dorado Exploration, S.A.

Murphy Australia Holdings Pty. Ltd.

Murphy Australia NT/P80 Oil Pty. Ltd.

Murphy Australia Oil Pty. Ltd.

Murphy Australia AC/P 36 Oil Pty. Limited

Murphy Australia WA-408-P Oil Pty. Ltd.

Murphy Australia WA-423-P Oil Pty. Ltd.

Murphy Australia WA-476-P Oil Pty. Ltd.

Murphy Australia WA-481-P Oil Pty. Ltd.

Murphy Baranan Oil Co., Ltd.

Murphy Brazil Exploracao e Producao de Petroleo e Gas Ltda.

Murphy Cameroon Elombo Oil Co., Ltd.

Murphy Cameroon Ntem Oil Co., Ltd.

Murphy Central Dohuk Oil Co. Ltd.

Murphy Equatorial Guinea Oil Co., Ltd.

Murphy Exploration (Alaska), Inc.

Murphy Global, Inc.

Murphy International Marketing & Trading Company

Murphy Italy Oil Company (see company F. below)

Murphy Kurdistan Oil Co., Ltd.

Murphy Nha Trang Oil Co., Ltd.

Murphy Overseas Ventures Inc.

  

A-1

  

Murphy Brazil Exploracao e Producao de Petroleo e Gas Ltda.

Murphy Phuong Nam Oil Co., Ltd.

Murphy SE Asia Oil Pte. Ltd.

Murphy Semai IV Ltd.

Murphy Semai Oil Co., Ltd.

Murphy Somali Oil Company

Murphy South Barito, Ltd.

Murphy-Spain Oil Company

Murphy Suriname Company Ltd.

Murphy Suriname Oil Company, Ltd.

Murphy West Africa, Ltd.

 

  

A-2

  

	
  

	
Exhibit B

 

  Licensed Marks

 

Murphy USA

Murphy USA Inc.

Murphy Oil USA, Inc.

Murphy Oil USA

Murphy Oil Trading Company (Eastern)

Murphy Express

Murpay

Dr. Murphy’s Crazy Concoction

Registrations

	
Country

	
Mark

	
Status

	
Application No.

	
Registration No.

	
U.S.

	
MURPHY USA and two-star design

	
Registered

	
77/844,528

	
3,938,678

	
U.S.

	
MURPHY USA and design

	
Registered

	
75/300,843

	
2,180,353

	
U.S.

	
MURPAY

	
Registered

	
77/844,494

	
3,938,676

	
U.S.

	
DR. MURPHY’S CRAZY CONCOCTION

	
Registered

	
85/444,396

	
4,269,358

  

16

  

	
  

	
Exhibit C

Rowel DesignEX-4.2

 Exhibit 4.2 
 EXECUTION VERSION 
  

 
  

SENIOR SUBORDINATED NOTES INDENTURE 
 Dated as of June 29, 2007 
 Among 

SURGERY CENTERS MERGER SUB LLC, to be merged with and into SURGICAL CARE AFFILIATES, LLC, 

SURGICAL HOLDINGS, INC., 
 the Guarantors listed herein 
 and 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
 as Trustee 
 10.0% SENIOR SUBORDINATED NOTES DUE 2017 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I	  
	DEFINITIONS	  
			
	 Section 1.01.
	 	Definitions	  	 	1	  
			
	 Section 1.02.
	 	Other Definitions	  	 	40	  
			
	 Section 1.03.
	 	[Reserved]	  	 	41	  
			
	 Section 1.04.
	 	Rules of Construction	  	 	41	  
			
	 Section 1.05.
	 	Acts of Holders	  	 	41	  
	
	ARTICLE II	  
	THE NOTES	  
			
	 Section 2.01.
	 	Form and Dating; Terms	  	 	43	  
			
	 Section 2.02.
	 	Execution and Authentication	  	 	44	  
			
	 Section 2.03.
	 	Registrar and Paying Agent	  	 	45	  
			
	 Section 2.04.
	 	Paying Agent to Hold Money in Trust	  	 	45	  
			
	 Section 2.05.
	 	Holder Lists	  	 	45	  
			
	 Section 2.06.
	 	Transfer and Exchange	  	 	45	  
			
	 Section 2.07.
	 	Replacement Notes	  	 	56	  
			
	 Section 2.08.
	 	Outstanding Notes	  	 	57	  
			
	 Section 2.09.
	 	Treasury Notes	  	 	57	  
			
	 Section 2.10.
	 	Temporary Notes	  	 	57	  
			
	 Section 2.11.
	 	Cancellation	  	 	58	  
			
	 Section 2.12.
	 	Defaulted Interest	  	 	58	  
			
	 Section 2.13.
	 	CUSIP/ISIN Numbers	  	 	58	  
			
	 Section 2.14.
	 	Calculation of Principal Amount of Securities	  	 	59	  
	
	ARTICLE III	  
	REDEMPTION	  
			
	 Section 3.01.
	 	Notices to Trustee	  	 	59	  
			
	 Section 3.02.
	 	Selection of Notes to Be Redeemed	  	 	59	  
			
	 Section 3.03.
	 	Notice of Redemption	  	 	59	  
			
	 Section 3.04.
	 	Effect of Notice of Redemption	  	 	61	  
			
	 Section 3.05.
	 	Deposit of Redemption Price	  	 	61	  
			
	 Section 3.06.
	 	Notes Redeemed in Part	  	 	61	  

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 Section 3.07.
	 	Optional Redemption	  	 	61	  
			
	 Section 3.08.
	 	Mandatory Redemption	  	 	62	  
			
	 Section 3.09.
	 	Offers to Repurchase by Application of Excess Proceeds	  	 	62	  
	
	ARTICLE IV	  
	COVENANTS	  
			
	 Section 4.01.
	 	Payment of Notes	  	 	65	  
			
	 Section 4.02.
	 	Maintenance of Office or Agency	  	 	65	  
			
	 Section 4.03.
	 	Reports and Other Information	  	 	65	  
			
	 Section 4.04.
	 	Compliance Certificate	  	 	68	  
			
	 Section 4.05.
	 	Taxes	  	 	69	  
			
	 Section 4.06.
	 	Stay, Extension and Usury Laws	  	 	69	  
			
	 Section 4.07.
	 	Limitation on Restricted Payments	  	 	69	  
			
	 Section 4.08.
	 	Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	  	 	77	  
			
	 Section 4.09.
	 	Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock	  	 	79	  
			
	 Section 4.10.
	 	Asset Sales	  	 	86	  
			
	 Section 4.11.
	 	Transactions with Affiliates	  	 	89	  
			
	 Section 4.12.
	 	Liens	  	 	92	  
			
	 Section 4.13.
	 	Company Existence	  	 	92	  
			
	 Section 4.14.
	 	Offer to Repurchase Upon Change of Control	  	 	92	  
			
	 Section 4.15.
	 	Limitation on Guarantees of Indebtedness by Restricted Subsidiaries	  	 	94	  
			
	 Section 4.16.
	 	Distributions by Qualified Restricted Subsidiaries	  	 	95	  
			
	 Section 4.17.
	 	Corporate Co-Issuer	  	 	96	  
			
	 Section 4.18.
	 	Suspension of Covenants	  	 	96	  
			
	 Section 4.19.
	 	Limitation on Layering	  	 	97	  
	
	ARTICLE V	  
	SUCCESSORS	  
			
	 Section 5.01.
	 	Merger, Consolidation or Sale of All or Substantially All Assets	  	 	98	  
			
	 Section 5.02.
	 	Successor Corporation Substituted	  	 	100	  

  
 ii 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	ARTICLE VI	  
	DEFAULTS AND REMEDIES	  
			
	 Section 6.01.
	 	Events of Default	  	 	100	  
			
	 Section 6.02.
	 	Acceleration	  	 	102	  
			
	 Section 6.03.
	 	Other Remedies	  	 	103	  
			
	 Section 6.04.
	 	Waiver of Past Defaults	  	 	103	  
			
	 Section 6.05.
	 	Control by Majority	  	 	104	  
			
	 Section 6.06.
	 	Limitation on Suits	  	 	104	  
			
	 Section 6.07.
	 	Rights of Holders of Notes to Receive Payment	  	 	104	  
			
	 Section 6.08.
	 	Collection Suit by Trustee	  	 	104	  
			
	 Section 6.09.
	 	Restoration of Rights and Remedies	  	 	104	  
			
	 Section 6.10.
	 	Rights and Remedies Cumulative	  	 	105	  
			
	 Section 6.11.
	 	Delay or Omission Not Waiver	  	 	105	  
			
	 Section 6.12.
	 	Trustee May File Proofs of Claim	  	 	105	  
			
	 Section 6.13.
	 	Priorities	  	 	106	  
			
	 Section 6.14.
	 	Undertaking for Costs	  	 	106	  
	
	ARTICLE VII	  
	TRUSTEE	  
			
	 Section 7.01.
	 	Duties of Trustee	  	 	106	  
			
	 Section 7.02.
	 	Rights of Trustee	  	 	107	  
			
	 Section 7.03.
	 	Individual Rights of Trustee	  	 	109	  
			
	 Section 7.04.
	 	Trustee’s Disclaimer	  	 	109	  
			
	 Section 7.05.
	 	Notice of Defaults	  	 	109	  
			
	 Section 7.06.
	 	[Reserved]	  	 	109	  
			
	 Section 7.07.
	 	Compensation and Indemnity	  	 	109	  
			
	 Section 7.08.
	 	Replacement of Trustee	  	 	110	  
			
	 Section 7.09.
	 	Successor Trustee by Merger, etc.	  	 	111	  
			
	 Section 7.10.
	 	Eligibility; Disqualification	  	 	111	  
	
	ARTICLE VIII	  
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE	  
			
	 Section 8.01.
	 	Option to Effect Legal Defeasance or Covenant Defeasance	  	 	111	  
			
	 Section 8.02.
	 	Legal Defeasance and Discharge	  	 	111	  
			
	 Section 8.03.
	 	Covenant Defeasance	  	 	112	  

  
 iii

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 Section 8.04.
	 	Conditions to Legal or Covenant Defeasance	  	 	112	  
			
	 Section 8.05.
	 	Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions	  	 	114	  
			
	 Section 8.06.
	 	Repayment to Issuers	  	 	114	  
			
	 Section 8.07.
	 	Reinstatement	  	 	115	  
	
	ARTICLE IX	  
	AMENDMENT, SUPPLEMENT AND WAIVER	  
			
	 Section 9.01.
	 	Without Consent of Holders of Notes	  	 	115	  
			
	 Section 9.02.
	 	With Consent of Holders of Notes	  	 	116	  
			
	 Section 9.03.
	 	[Reserved]	  	 	118	  
			
	 Section 9.04.
	 	Revocation and Effect of Consents	  	 	118	  
			
	 Section 9.05.
	 	Notation on or Exchange of Notes	  	 	118	  
			
	 Section 9.06.
	 	Trustee to Sign Amendments, etc.	  	 	118	  
			
	 Section 9.07.
	 	Payment for Consent	  	 	119	  
			
	 Section 9.08.
	 	Additional Voting Terms; Calculation of Principal Amount	  	 	119	  
	
	ARTICLE X	 
			
	 Section 10.01.
	 	Agreement To Subordinate	  	 	119	  
			
	 Section 10.02.
	 	Liquidation, Dissolution, Bankruptcy	  	 	119	  
			
	 Section 10.03.
	 	Default on Senior Indebtedness of the Company or the Co-Issuer	  	 	120	  
			
	 Section 10.04.
	 	Acceleration of Payment of Notes	  	 	121	  
			
	 Section 10.05.
	 	When Distribution Must Be Paid Over	  	 	121	  
			
	 Section 10.06.
	 	Subrogation	  	 	121	  
			
	 Section 10.07.
	 	Relative Rights	  	 	121	  
			
	 Section 10.08.
	 	Subordination May Not Be Impaired by Issuers	  	 	122	  
			
	 Section 10.09.
	 	Rights of Trustee and Paying Agent	  	 	122	  
			
	 Section 10.10.
	 	Distribution or Notice to Representative	  	 	122	  
			
	 Section 10.11.
	 	Article X Not To Prevent Events of Default or Limit Right To Accelerate	  	 	122	  
			
	 Section 10.12.
	 	Trust Moneys Not Subordinated	  	 	122	  
			
	 Section 10.13.
	 	Trustee Entitled To Rely	  	 	123	  

  
 iv 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 Section 10.14.
	 	Trustee To Effectuate Subordination	  	 	123	  
			
	 Section 10.15.
	 	Trustee Not Fiduciary for Holders of Senior Indebtedness of the Issuers	  	 	123	  
			
	 Section 10.16.
	 	Reliance by Holders of Senior Indebtedness of the Issuers on Subordination Provisions	  	 	123	  
	
	ARTICLE XI	  
	GUARANTEES	  
			
	 Section 11.01.
	 	Guarantee	  	 	124	  
			
	 Section 11.02.
	 	Limitation on Guarantor Liability	  	 	126	  
			
	 Section 11.03.
	 	Execution and Delivery	  	 	126	  
			
	 Section 11.04.
	 	Subrogation	  	 	127	  
			
	 Section 11.05.
	 	Benefits Acknowledged	  	 	127	  
			
	 Section 11.06.
	 	Release of Guarantees	  	 	127	  
	
	ARTICLE XII	  
	SUBORDINATION OF GUARANTEES	  
			
	 Section 12.01.
	 	Agreement To Subordinate	  	 	128	  
			
	 Section 12.02.
	 	Liquidation, Dissolution, Bankruptcy	  	 	128	  
			
	 Section 12.03.
	 	Default on Senior Indebtedness of a Guarantor	  	 	128	  
			
	 Section 12.04.
	 	Acceleration of Payment of Notes	  	 	130	  
			
	 Section 12.05.
	 	When Distribution Must Be Paid Over	  	 	130	  
			
	 Section 12.06.
	 	Subrogation	  	 	130	  
			
	 Section 12.07.
	 	Relative Rights	  	 	130	  
			
	 Section 12.08.
	 	Subordination May Not Be Impaired by a Guarantor	  	 	130	  
			
	 Section 12.09.
	 	Rights of Trustee and Paying Agent	  	 	130	  
			
	 Section 12.10.
	 	Distribution or Notice to Representative	  	 	131	  
			
	 Section 12.11.
	 	Article XII Not To Prevent Events of Default or Limit Right To Demand Payment	  	 	131	  
			
	 Section 12.12.
	 	Trust Moneys Not Subordinated	  	 	131	  
			
	 Section 12.13.
	 	Trustee Entitled To Rely	  	 	131	  
			
	 Section 12.14.
	 	Trustee To Effectuate Subordination	  	 	132	  
			
	 Section 12.15.
	 	Trustee Not Fiduciary for Holders of Senior Indebtedness of Guarantors	  	 	132	  
			
	 Section 12.16.
	 	Reliance by Holders of Senior Indebtedness of a Guarantor on Subordination Provisions	  	 	132	  

  
 v 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	ARTICLE XIII	  
	SATISFACTION AND DISCHARGE	  
			
	 Section 13.01.
	 	Satisfaction and Discharge	  	 	133	  
			
	 Section 13.02.
	 	Application of Trust Money	  	 	134	  
	
	ARTICLE XIV	  
	MISCELLANEOUS	  
			
	 Section 14.01.
	 	[Reserved]	  	 	134	  
			
	 Section 14.02.
	 	Notices	  	 	134	  
			
	 Section 14.03.
	 	[Reserved]	  	 	135	  
			
	 Section 14.04.
	 	Certificate and Opinion as to Conditions Precedent	  	 	135	  
			
	 Section 14.05.
	 	Statements Required in Certificate or Opinion	  	 	136	  
			
	 Section 14.06.
	 	Rules by Trustee and Agents	  	 	136	  
			
	 Section 14.07.
	 	No Personal Liability of Directors, Officers, Employees and Stockholders	  	 	136	  
			
	 Section 14.08.
	 	Governing Law	  	 	136	  
			
	 Section 14.09.
	 	Waiver of Jury Trial	  	 	136	  
			
	 Section 14.10.
	 	Force Majeure	  	 	136	  
			
	 Section 14.11.
	 	No Adverse Interpretation of Other Agreements	  	 	137	  
			
	 Section 14.12.
	 	Successors	  	 	137	  
			
	 Section 14.13.
	 	Severability	  	 	137	  
			
	 Section 14.14.
	 	Counterpart Originals	  	 	137	  
			
	 Section 14.15.
	 	Table of Contents, Headings, etc.	  	 	137	  

 EXHIBITS 

			
		
	Exhibit A	  	Form of Note
	Exhibit B	  	Form of Certificate of Transfer
	Exhibit C	  	Form of Certificate of Exchange
	Exhibit D	  	Form of Supplemental Indenture to Be Delivered by Subsequent Guarantors

  
 vi 

 SENIOR SUBORDINATED NOTES INDENTURE, dated as of June 29, 2007, among Surgery Centers
Merger Sub LLC, a Delaware limited liability company that shall be merged with and into Surgical Care Affiliates, LLC, a Delaware limited liability company, with Surgical Care Affiliates, LLC continuing as the surviving company, Surgical Holdings,
Inc., a Delaware corporation, as the Co-Issuer, the Guarantors listed on the signature pages hereto and Wells Fargo Bank, National Association, a national banking association, as Trustee. 

W I T N E S S E T H 

WHEREAS, the Issuers (as defined herein) have duly authorized the creation of an issue of $150,000,000 aggregate principal amount of the
Issuers’ 10.0% senior subordinated notes due July 15, 2017 (the “Initial Notes”); 
 WHEREAS, each of
the Issuers and each of the Guarantors has duly authorized the execution and delivery of this Indenture (as defined herein); 

WHEREAS, on the date hereof, Surgery Centers Merger Sub LLC shall be merged with and into Surgical Care Affiliates, LLC, with Surgical
Care Affiliates, LLC continuing as the surviving company and assuming all of the obligations of Surgery Centers Merger Sub LLC under this Indenture; 
 NOW, THEREFORE, the Issuers, the Guarantors and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders (as defined herein). 

ARTICLE I 

DEFINITIONS 
 SECTION 1.01. Definitions. 
 “144A Global Note” means
a Global Note substantially in the form of Exhibit A hereto, bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee, issued in a
denomination equal to the outstanding principal amount of Notes initially sold in reliance on Rule 144A. 
 “Acquired
Indebtedness” means, with respect to any specified Person, 
 (1) Indebtedness of any other Person
existing at the time such other Person is merged with or into or became a Restricted Subsidiary of such specified Person, including Indebtedness incurred in connection with, or in contemplation of, such other Person merging with or into or becoming
a Restricted Subsidiary of such specified Person, and 
 (2) Indebtedness secured by a Lien encumbering any asset
acquired by such specified Person. 

 “Acquisition” means the transactions contemplated by the Transaction
Agreement. 
 “Additional Notes” means additional Notes issued from time to time subsequent to the Issue Date
under this Indenture. 
 “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” (including, with correlative meanings, the terms “controlling,” “controlled
by” and “under common control with”), 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. 
 “Agent” means any Registrar or Paying Agent.

 “Applicable Premium” means, with respect to any Note on any Redemption Date, the greater of: 

(1) 1.0% of the principal amount of such Note; and 

(2) the excess, if any, of (a) the present value at such Redemption Date of (i) the redemption price of such
Note at July 15, 2012 (such redemption price being set forth in the table set forth in Sections 3.07(c) hereof), plus (ii) all required remaining scheduled interest payments due on such Note through July 15, 2012 (excluding accrued
but unpaid interest to the Redemption Date), computed using a discount rate equal to the Treasury Rate as of such Redemption Date plus 50 basis points; over (b) the principal amount of such Note. 

“Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global
Note, the rules and procedures of the Depositary that apply to such transfer or exchange. 
 “Asset Sale”
means: 
 (1) the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related
transactions (including by way of a Sale and Lease-Back Transaction), of property or assets (including Reverted Assets) of the Company or any of its Restricted Subsidiaries (each referred to in this definition as a “disposition”); or

 (2) the issuance or sale of Equity Interests of any Restricted Subsidiary (other than Preferred Stock of Restricted
Subsidiaries issued in compliance with Section 4.09 hereof), whether in a single transaction or a series of related transactions; 
 in
each case, other than: 
 (a) any disposition of Cash Equivalents or Investment Grade Securities or obsolete or worn out
equipment in the ordinary course of business or any disposition of inventory or goods (or other assets) held for sale or no longer used in the ordinary course of business; 

  
 2 

 (b) the disposition of all or substantially all of the assets of the Company in a manner
permitted pursuant to the provisions described under Section 5.01 hereof or any disposition that constitutes a Change of Control pursuant to this Indenture; 
 (c) the making of any Restricted Payment or Permitted Investment that is permitted to be made, and is made, under Section 4.07 hereof; 

(d) any disposition of assets or issuance or sale of Equity Interests of any Restricted Subsidiary in any transaction or series of
related transactions with an aggregate fair market value of less than $7.5 million; provided that for purposes of determining whether or not resyndications constitute a series of related transactions, only sales of Equity Interests in a
single Restricted Subsidiary consummated over a period of 180 days will be considered to be a series of related transactions; 

(e) any disposition of property or assets or the issuance of securities by a Restricted Subsidiary to the Company or by the Company or a
Restricted Subsidiary to a Restricted Subsidiary; 
 (f) to the extent allowable under Section 1031 of the Internal Revenue
Code of 1986, any exchange of like property (excluding any boot thereon) for use in a Similar Business; 
 (g) the lease,
assignment or sub-lease of any real or personal property in the ordinary course of business; 
 (h) any issuance or sale of
Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary; 
 (i) foreclosures, condemnation or
any similar action on assets or the granting of Liens not prohibited by this Indenture; 
 (j) sales of accounts receivable, or
participations therein or related assets in connection with any Qualified Securitization Facility; 
 (k) any financing
transaction with respect to property built or acquired by the Company or any Restricted Subsidiary after the Issue Date, including Sale and Lease-Back Transactions and asset securitizations permitted by this Indenture; 

(l) the sale or discount of inventory, accounts receivable or notes receivable in the ordinary course of business or the conversion of
accounts receivable to notes receivable; 
 (m) the licensing or sub-licensing of intellectual property or other general
intangibles in the ordinary course of business, other than the licensing of intellectual property on a long-term basis; 

  
 3 

 (n) any surrender or waiver of contract rights or the settlement, release or surrender of
contract rights or other litigation claims in the ordinary course of business; 
 (o) the unwinding of any Hedging Obligations;

 (p) sales, transfers and other dispositions of Investments in joint ventures to the extent required by, or made pursuant to,
customary buy/sell arrangements between the joint venture parties set forth in joint venture arrangements and similar binding arrangements; 
 (q) the abandonment of intellectual property rights in the ordinary course of business, which in the reasonable good faith determination of the Company are not material to the conduct of the business of
the Company and its Restricted Subsidiaries taken as a whole; and 
 (r) the sale of Capital Stock in a Qualified Restricted
Subsidiary to a Strategic Investor in connection with the resyndication of such Capital Stock within one year of the purchase thereof from another Strategic Investor. 
 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors. 
 “Business Day” means each day which is not a Legal Holiday. 

“Capital Stock” means: 
 (1) in the case of a corporation, corporate stock; 
 (2) in the
case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited); and 

(4) 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 excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock. 

“Capitalized 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 such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in accordance with GAAP. 

“Capitalized Software Expenditures” shall mean, for any period, the aggregate of all expenditures (whether paid in cash
or accrued as liabilities) by a Person and its Restricted Subsidiaries during such period in respect of licensed or purchased software or internally developed software and software enhancements that, in conformity with GAAP, are or are required to
be reflected as capitalized costs on the consolidated balance sheet of a Person and its Restricted Subsidiaries. 

  
 4 

 “Captive Insurance Subsidiary” means a Subsidiary established by the
Company or any of its Subsidiaries for the sole purpose of insuring the business, facilities and/or employees of the Company and its Subsidiaries. 
 “Cash Equivalents” means: 
 (1) United States
dollars; 
 (2) Canadian dollars, yen, pounds sterling, euros or any national currency of any participating
member state of the EMU; 
 (3) securities issued or directly and fully and unconditionally guaranteed or insured
by the U.S. government or any agency or instrumentality thereof the securities of which are unconditionally guaranteed as a full faith and credit obligation of such government with maturities of 24 months or less from the date of acquisition;

 (4) certificates of deposit, time deposits and eurodollar time deposits with maturities of 12 months or less
from the date of acquisition, bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case with any domestic or foreign commercial bank having capital and surplus of not less than $250.0 million in the
case of U.S. banks and $100.0 million (or the U.S. dollar equivalent as of the date of determination) in the case of non-U.S. banks; 
 (5) repurchase obligations for underlying securities of the types described in clauses (3), (4) and (8) entered into with any financial institution meeting the qualifications specified in clause
(4) above; 
 (6) commercial paper rated at least P-2 by Moody’s or at least A-2 by S&P (or, if at
any time neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another Rating Agency) and in each case maturing within 12 months after the date of creation thereof and Indebtedness or Preferred Stock issued by
Persons (other than the Sponsor or any of its Affiliates) with a rating of “A” or higher from S&P or “A-2” or higher from Moody’s with maturities of 12 months or less from the date of acquisition; 

(7) marketable short-term money market and similar funds having (a) assets in excess of $250.0 million or (b) a
rating of at least P-2 or A-2 from either Moody’s or S&P, respectively (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another Rating Agency) and in each case maturing within
12 months after the date of creation or acquisition thereof; 
 (8) readily marketable direct obligations issued
by any state, commonwealth or territory of the United States or any political subdivision or taxing authority thereof having an Investment Grade Rating from either Moody’s or S&P (or, if at any time neither Moody’s nor S&P shall be
rating such obligations, an equivalent rating from another Rating Agency) with maturities of 12 months or less from the date of acquisition; 

  
 5 

 (9) Investments with average maturities of 12 months or less from the date
of acquisition in money market funds rated AAA- (or the equivalent thereof) or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody’s (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an
equivalent rating from another Rating Agency); and 
 (10) investment funds investing 90.0% of their assets in
securities of the types described in clauses (1) through (9) above. 
 Notwithstanding the foregoing, Cash Equivalents
shall include amounts denominated in currencies other than those set forth in clauses (1) and (2) above, provided that such amounts are converted into any currency listed in clauses (1) and (2) as promptly as practicable
and in any event within ten Business Days following the receipt of such amounts. 
 “Change of Control” means
the occurrence of any of the following: 
 (1) the sale, lease or transfer, in one or a series of related
transactions, of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any Person other than a Permitted Holder; or 
 (2) the Company becomes aware of (by way of a report or any other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) the acquisition by any Person or
group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision), including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule
13d-5(b)(1) under the Exchange Act), other than one or more Permitted Holders, in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination or purchase of beneficial ownership (within
the meaning of Rule 13d-3 under the Exchange Act, or any successor provision) of 50.0% or more of the total voting power of the Voting Stock of the Company or any of its direct or indirect parent companies holding directly or indirectly 100.0% of
the total voting power of the Voting Stock of the Company). 
 “Clearstream” means Clearstream Banking,
Société Anonyme. 
 “Co-Investors” means MTS-SCA Acquisition LLC, The Leonard D. Schaeffer 2007
Annuity Trust No.1, The Pamela S. Schaeffer 2007 Annuity Trust No.1 and TOK Properties, L.P. 
 “Co-Issuer”
means Surgical Holdings, Inc., a direct wholly-owned subsidiary of the Company with nominal assets which conducts no operations, and its successors. 
 “Company” means Surgery Centers Merger Sub LLC, prior to the Merger, and Surgical Care Affiliates, LLC, as the surviving Person after the Merger, and its successors. 

  
 6 

 “Consolidated Depreciation and Amortization Expense” means with respect to
any Person for any period, the total amount of depreciation and amortization expense of such Person, including the amortization of deferred financing fees, debt issuance costs, commissions, fees and expenses and Capitalized Software Expenditures of
such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP. 
 “Consolidated Interest Expense” means, with respect to any Person for any period, without duplication, the sum of: 

(1) consolidated interest expense of such Person and its Restricted Subsidiaries for such period, to the extent such
expense was deducted (and not added back) in computing Consolidated Net Income (including (a) amortization of original issue discount resulting from the issuance of Indebtedness at less than par, (b) all commissions, discounts and other
fees and charges owed with respect to letters of credit or bankers acceptances, (c) non-cash interest payments (but excluding any non-cash interest expense attributable to the movement in the mark to market valuation of Hedging Obligations or
other derivative instruments pursuant to GAAP), (d) the interest component of Capitalized Lease Obligations, and (e) net payments, if any, made (less net payments, if any, received), pursuant to interest rate Hedging Obligations with
respect to Indebtedness, and excluding (u) any expense resulting from the discounting of any Indebtedness in connection with the application of recapitalization accounting or, if applicable, purchase accounting in connection with the
Transactions or any acquisition, (v) penalties and interest relating to taxes, (w) amortization of deferred financing fees, debt issuance costs, commissions, fees and expenses, (x) any expensing of bridge, commitment and other
financing fees, (y) commissions, discounts, yield and other fees and charges (including any interest expense) related to any Qualified Securitization Facility and (z) any accretion of accrued interest on discounted liabilities); plus

 (2) consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period, whether
paid or accrued; less 
 (3) interest income of such Person and its Restricted Subsidiaries for such period.

 For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by such Person to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 

“Consolidated Net Income” means, with respect to any Person for any period, the aggregate of the Net Income of such
Person and its Restricted Subsidiaries for such period, on a consolidated basis, and otherwise determined in accordance with GAAP; provided that, without duplication, 

(1) the cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of
accounting policies during such period shall be excluded; 

  
 7 

 (2) any net after-tax effect of gains or losses (less all fees, expenses and
charges relating thereto) attributable to asset dispositions (including the sale or other disposition of any Capital Stock of any Person) other than in the ordinary course of business shall be excluded; 

(3) the Net Income for such period of any Person that is an Unrestricted Subsidiary shall be excluded, and, solely for the
purpose of determining the amount available for Restricted Payments under clause (3)(A) of Section 4.07(a) hereof, the Net Income for such period of any Person that is not a Subsidiary or that is accounted for by the equity method of
accounting shall be excluded; provided that Consolidated Net Income of the Company shall be increased by the amount of dividends or distributions or other payments that are actually paid in cash (or to the extent converted into cash) to the
Company or a Restricted Subsidiary thereof in respect of such period; 
 (4) solely for the purpose of
determining the amount available for Restricted Payments under clause (3)(A) of Section 4.07(a) hereof, the Net Income for such period of any Restricted Subsidiary (other than the Co-Issuer or any Guarantor) shall be excluded to the extent
that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of its Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or
indirectly, by the 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, unless such restriction with
respect to the payment of dividends or similar distributions has been legally waived, provided that Consolidated Net Income of the Company will be increased by the amount of dividends or other distributions or other payments actually paid in
cash (or to the extent converted into cash) to the Company or a Restricted Subsidiary thereof in respect of such period, to the extent not already included therein; 

(5) effects of adjustments (including the effects of such adjustments pushed down to the Company and its Restricted
Subsidiaries) in the inventory, property and equipment, software, goodwill, other intangible assets, in-process research and development, deferred revenue, debt line items and other noncash charges in such Person’s consolidated financial
statements pursuant to GAAP resulting from the application of recapitalization accounting or, if applicable, purchase accounting in relation to the Transactions or any consummated acquisition or the amortization or write-off of any amounts thereof,
net of taxes, shall be excluded; 
 (6) any after-tax effect of income (loss) from the early extinguishment of
(a) Indebtedness, (b) Hedging Obligations or (c) other derivative instruments shall be excluded; 

(7) any impairment charge or asset write-off or write-down, including impairment charges or asset write-offs or
write-downs related to intangible assets, long-lived assets, investments in debt and equity securities or as a result of a change in law or regulation (excluding (i) any such charge, write-off or write-down in respect of items that were
included in Consolidated Net Income in a prior period and (ii) any such charge, write-off or write-down of or relating to inventory), in each case, pursuant to GAAP, and the amortization of intangibles arising pursuant to GAAP shall be
excluded; 

  
 8 

 (8) any non-cash compensation expense recorded from grants of stock
appreciation or similar rights, stock options, restricted stock or other rights, and any cash charges associated with the rollover, acceleration, or payout of Equity Interests by management of the Company or any of its direct or indirect parent
companies in connection with the Transactions, shall be excluded; 
 (9) any fees, expenses or charges incurred
during such period, or any amortization thereof for such period, in connection with any acquisition, Investment, Asset Sale, incurrence or repayment of Indebtedness (including such fees, expenses or charges related to the offering of the Notes, the
Senior Notes and the Credit Facilities), issuance of Equity Interests, refinancing transaction or amendment or modification of any debt instrument (including any amendment or other modification of the Notes, the Senior Notes and the Credit
Facilities) and including, in each case, any such transaction consummated prior to the Issue Date and any such transaction undertaken but not completed, and any charges or non-recurring merger costs incurred during such period as a result of any
such transaction, in each case whether or not successful, shall be excluded; 
 (10) accruals and reserves that
are established within twelve months after the Issue Date that are so required to be established as a result of the Transactions in accordance with GAAP shall be excluded; 

(11) to the extent covered by insurance (including, without limitation, business interruption insurance) and actually
reimbursed, or, so long as the Company has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is (a) not denied by the applicable carrier
in writing and (b) in fact reimbursed within 365 days of the date of the insurable event (with a deduction for any amount so added back to the extent not so reimbursed within such 365 day period), expenses with respect to liability or casualty
events or business interruption shall be excluded; provided that any proceeds of such reimbursement when received shall be excluded to the extent the expense reimbursed was previously excluded pursuant to this clause (11); 

(12) any noncash compensation expense resulting from the application of Statement of Financial Accounting Standards
No. 123R shall be excluded; and 
 (13) the following items shall be excluded: 

(a) any net unrealized gain or loss (after any offset) resulting in such period from Hedging Obligations and the
application of Statement of Financial Accounting Standards No. 133; and 
 (b) any net unrealized gain or
loss (after any offset) resulting in such period from currency translation gains or losses related to currency remeasurement of Indebtedness (including any net loss or gain resulting from Hedging Obligations for currency exchange risk). 

  
 9 

 In addition, to the extent not already included in the Consolidated Net Income of such
Person and its Restricted Subsidiaries, notwithstanding anything to the contrary in the foregoing, Consolidated Net Income shall include the amount of proceeds received from reimbursements of any expenses and charges that are covered by
indemnification or other reimbursement provisions in connection with any Permitted Investment or any sale, conveyance, transfer or other disposition of assets permitted under this Indenture. 

Notwithstanding the foregoing, for the purpose of Section 4.07 hereof only (other than clause (3)(D) of Section 4.07(a)
hereof), there shall be excluded from Consolidated Net Income any income arising from any sale or other disposition of Restricted Investments made by the Company and its Restricted Subsidiaries, any repurchases and redemptions of Restricted
Investments from the Company and its Restricted Subsidiaries, any repayments of loans and advances which constitute Restricted Investments by the Company or any of its Restricted Subsidiaries, any sale of the stock of an Unrestricted Subsidiary or
any distribution or dividend from an Unrestricted Subsidiary, in each case only to the extent such amounts increase the amount of Restricted Payments permitted under clause (3)(D) of Section 4.07(a) hereof. 

“Consolidated Secured Debt Ratio” as of any date of determination means the ratio of (1) Consolidated Total
Indebtedness of the Company and its Restricted Subsidiaries that is secured by Liens as of the end of the most recent fiscal quarter for which internal financial statements are available immediately preceding the date on which the event for which
such calculation is being made shall occur, to (2) the Company’s EBITDA for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which the event for which
such calculation is being made shall occur, in each case with such pro forma adjustments to Consolidated Total Indebtedness and EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth
in the definition of Fixed Charge Coverage Ratio. 
 “Consolidated Total Debt Ratio” as of any date of
determination means the ratio of (1) Consolidated Total Indebtedness of the Company and its Restricted Subsidiaries as of the end of the most recent fiscal quarter for which internal financial statements are available immediately preceding the
date on which the event for which such calculation is being made shall occur, to (2) the Company’s EBITDA for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the
date on which the event for which such calculation is being made shall occur, in each case with such pro forma adjustments to Consolidated Total Indebtedness and EBITDA as are appropriate and consistent with the pro forma
adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio. 
 “Consolidated Total
Indebtedness” means, as at any date of determination, an amount equal to the aggregate amount of all outstanding Indebtedness of the Company and its Restricted Subsidiaries on a consolidated basis in accordance with GAAP (but excluding the
effects of any discounting of Indebtedness resulting from the application of purchase accounting in connection with the Transactions or any acquisition permitted under this Indenture) consisting of Indebtedness for borrowed money, Obligations in
respect of Capitalized Lease Obligations and debt obligations evidenced by promissory notes and similar instruments (and excluding, for the avoidance of doubt, all undrawn letters of credit and all obligations relating to Qualified

  
 10 

 
Securitization Facilities). For purpose of the definition of Consolidated Total Debt Ratio only, Consolidated Total Indebtedness shall also include the aggregate amount of all outstanding
Disqualified Stock of the Company and all Preferred Stock of its Restricted Subsidiaries on a consolidated basis, with the amount of such Disqualified Stock and Preferred Stock equal to the greater of their respective voluntary or involuntary
liquidation preferences and maximum fixed repurchase prices, in each case determined on a consolidated basis in accordance with GAAP. For purposes hereof, the “maximum fixed repurchase price” of any Disqualified Stock or Preferred Stock
that does not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Stock or Preferred Stock as if such Disqualified Stock or Preferred Stock were purchased on any date on which Consolidated Total
Indebtedness shall be required to be determined pursuant to this Indenture, and if such price is based upon, or measured by, the fair market value of such Disqualified Stock or Preferred Stock, such fair market value shall be determined reasonably
and in good faith by the Company. 
 “Contingent Obligations” means, with respect to any Person, any obligation
of such Person guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or
indirectly, including, without limitation, any obligation of such Person, whether or not contingent, 
 (1) to
purchase any such primary obligation or any property constituting direct or indirect security therefore; 
 (2)
to advance or supply funds 
 (a) for the purchase or payment of any such primary obligation, or 

(b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or
solvency of the primary obligor; or 
 (3) to purchase property, securities or services primarily for the purpose
of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. 
 “Corporate Trust Office of the Trustee” shall be at the address of the Trustee specified in Section 14.02 hereof or such other address as to which the Trustee may give notice to the
Holders and the Issuers. 
 “Credit Facilities” means, with respect to the Company or any of its Restricted
Subsidiaries, one or more debt facilities, including the Senior Credit Facilities, or other financing arrangements (including, without limitation, commercial paper facilities or indentures) providing for revolving credit loans, term loans, letters
of credit or other long-term indebtedness, including any notes, mortgages, guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals,
restatements or refundings thereof and any indentures or credit facilities or commercial paper facilities that replace, refund or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such
replacement, refunding or refinancing facility or indenture that increases the amount permitted to be borrowed thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.09 hereof)
or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, lender or group of lenders. 

  
 11 

 “Custodian” means the Trustee, as custodian with respect to the Notes, each
in global form, or any successor entity thereto. 
 “Default” means any event that is, or with the passage of
time or the giving of notice or both would be, an Event of Default. 
 “Definitive Note” means a certificated
Note registered in the name of the Holder thereof and issued in accordance with Section 2.06(c) hereof, substantially in 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, any Person specified in Section 2.03 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 provision of this Indenture. 
 “Designated Non-cash Consideration”
means the fair market value of non-cash consideration received by the Company or a Restricted Subsidiary in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officer’s Certificate, setting
forth the basis of such valuation, executed by the principal financial officer of the Company, less the amount of Cash Equivalents received in connection with a subsequent sale of or collection on such Designated Non-cash Consideration. 

“Designated Preferred Stock” means Preferred Stock of the Company or any parent company thereof (in each case other than
Disqualified Stock) that is issued for cash (other than to a Restricted Subsidiary or an employee stock ownership plan or trust established by the Company or any of its Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an
Officer’s Certificate executed by the principal financial officer of the Company or the applicable parent company thereof, as the case may be, on the issuance date thereof, the cash proceeds of which are excluded from the calculation set forth
in clause (3) of Section 4.07(a) hereof. 
 “Designated Senior Indebtedness” means: 

(1) any Indebtedness outstanding under the Senior Credit Facilities; 

(2) the Senior Notes; and 
 (3) any other Senior Indebtedness permitted under this Indenture, the principal amount of which is $50.0 million or more and that has been designated by the Issuers as “Designated Senior
Indebtedness.” 

  
 12 

 “Disqualified Stock” means, with respect to any Person, any Capital Stock
of such Person which, by its terms, or by the terms of any security into which it is convertible or for which it is putable or exchangeable, or upon the happening of any event, matures or is mandatorily redeemable (other than solely as a result of a
change of control or asset sale) pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than solely as a result of a change of control or asset sale), in whole or in part, in each case prior
to the date 91 days after the earlier of the maturity date of the Notes or the date the Notes are no longer outstanding; provided that if such Capital Stock is issued to any plan for the benefit of employees of the Company or its Subsidiaries
or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Company or its Subsidiaries in order to satisfy applicable statutory or regulatory
obligations; provided, further, that any Capital Stock held by any future, current or former employee, director, officer, manager or consultant of the Company, any of its Subsidiaries, any of its direct or indirect parent companies or
any other entity in which the Company or a Restricted Subsidiary has an Investment and is designated in good faith as an “affiliate” by the board of directors of the Company (or the compensation committee thereof), in each case pursuant to
any stock subscription or shareholders’ agreement, management equity plan or stock option plan or any other management or employee benefit plan or agreement shall not constitute Disqualified Stock solely because it may be required to be
repurchased by the Company or its Subsidiaries. 
 “EBITDA” means, with respect to any Person for any period,
the Consolidated Net Income of such Person for such period 
 (1) increased (without duplication) by the
following, in each case to the extent deducted (and not added back) in determining Consolidated Net Income for such period: 
 (a) provision for taxes based on income or profits or capital, including, without limitation, state, franchise and similar taxes (including any future taxes or other levies which replace or are intended
to be in lieu of such taxes and any penalties and interest related to such taxes or arising from tax examinations) and the net tax expense associated with any adjustments made pursuant to clauses (1) through (13) of the definition of
“Consolidated Net Income”; plus  
 (b) Fixed Charges of such Person for such period,
plus amounts excluded from Consolidated Interest Expense as set forth in clauses (1)(u) through (z) in the definition thereof; plus  
 (c) Consolidated Depreciation and Amortization Expense of such Person for such period; plus 
 (d) [reserved]; 
 (e) the amount of any restructuring charges or
reserves, integration and facilities opening costs or other business optimization expenses (including cost and expenses relating to business optimization programs and new systems design and implementation costs), including any one-time costs
incurred in connection with acquisitions after the Issue Date, project start-up costs and costs related to the closure and/or consolidation of facilities; plus  

  
 13 

 (f) any other non-cash charges, including any write offs or write downs
reducing Consolidated Net Income for such period (provided that if any such non-cash charges represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period shall be
subtracted from EBITDA to such extent, and excluding (i) amortization of a prepaid cash item that was paid in a prior period, (ii) any such non-cash charges in respect of items that were included in Consolidated Net Income in a prior
period and (iii) any such non-cash charges that result from the write-down or write-off of inventory); plus  
 (g) [reserved]; 
 (h) the amount of management, monitoring,
consulting and advisory fees (including termination fees) and related indemnities and expenses paid or accrued in such period under the Management Fee Agreement or otherwise to the Sponsor to the extent otherwise permitted under Section 4.11
hereof; plus  
 (i) the amount of “run-rate” cost savings projected by the Company in good
faith to result from actions either taken or expected to be taken within 12 months after the end of such period (which cost savings shall be set forth in an Officer’s Certificate and calculated on a pro forma basis as though such
cost savings had been realized on the first day of such period), net of the amount of actual benefits realized from such actions (it is understood and agreed that “run-rate” means the full recurring benefit that is associated with any
action taken or expected to be taken, provided that some portion of such benefit is expected to be realized within 12 months of taking such action); provided that (x) such cost savings are reasonably identifiable and factually
supportable and (y) no cost savings shall be added pursuant to this clause (i) to the extent duplicative of any expenses or charges relating to such cost savings that are included in clause (e) above with respect to such period (which
adjustments may be incremental to pro forma cost savings adjustments made pursuant to the definition of “Fixed Charge Coverage Ratio”); plus  

(j) the amount of loss on sale of receivables and related assets to the Securitization Subsidiary in connection with a
Qualified Securitization Facility; plus 
 (k) any costs or expense incurred by the Company or a
Restricted Subsidiary pursuant to any management equity plan or stock option plan or any other management or employee benefit plan, agreement or any stock subscription or shareholder agreement, to the extent that such cost or expenses are funded
with cash proceeds contributed to the capital of the Company or net cash proceeds of an issuance of Equity Interest of the Company (other than Disqualified Stock) solely to the extent that such net cash proceeds are excluded from the calculation set
forth in clause (3) of Section 4.07(a) hereof; plus  

  
 14 

 (l) cash receipts (or any netting arrangements resulting in reduced cash
expenditures) not representing EBITDA or Consolidated Net Income in any period to the extent non-cash gains relating to such income were deducted in the calculation of EBITDA pursuant to clause (2) below for any previous period and not added
back; plus  
 (m) any net loss (i) from disposed or discontinued operations or (ii) from
operations expected to be disposed of or discontinued within twelve months after the end of such period and set forth in an Officer’s Certificate; plus  

(n) extraordinary losses and unusual or non-recurring charges (including any unusual or non-recurring operating expenses
attributable to the implementation of cost-savings initiatives, severance, retention and relocation costs and curtailments and modifications to pension and post-retirement employee benefit plans); plus  

(o) losses on asset sales (other than asset sales made in the ordinary course of business), disposals and abandonments;

 (2) decreased (without duplication) by the following, in each case to the extent included in determining
Consolidated Net Income for such period: 
 (a) non-cash gains increasing Consolidated Net Income of such Person
for such period, excluding any non-cash gains to the extent they represent the reversal of an accrual or reserve for a potential cash item that reduced EBITDA in any prior period; plus  

(b) any non-cash gains with respect to cash actually received in a prior period unless such cash did not increase EBITDA
in such prior period; plus  
 (c) any net income (i) from disposed or discontinued operations or
(ii) from operations expected to be disposed of or discontinued within twelve months after the end of such period and set forth in an Officer’s Certificate; plus  

(d) extraordinary gains and unusual or non-recurring gains; plus 

(e) gains on asset sales (other than asset sales made in the ordinary course of business), disposals and abandonments;
plus 
 (f) the net tax benefit associated with any adjustments made pursuant to clauses (1) through
(13) of the definition of “Consolidated Net Income.” 
 “EMU” means economic and monetary union
as contemplated in the Treaty on European Union. 
 “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. 

  
 15 

 “Equity Offering” means any public or private sale of common stock or
Preferred Stock of the Company or any of its direct or indirect parent companies (excluding Disqualified Stock), other than: 
 (1) public offerings with respect to the Company’s or any direct or indirect parent company’s common stock registered on Form S-4 or Form S-8; 

(2) issuances to any Subsidiary of the Company; and 

(3) any such public or private sale that constitutes an Excluded Contribution. 

“euro” means the single currency of participating member states of the EMU. 

“Euroclear” means Euroclear S.A./N.V., as operator of the Euroclear system. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC
promulgated thereunder. 
 “Excluded Contribution” means net cash proceeds, marketable securities or Qualified
Proceeds received by the Company from 
 (1) contributions to its common equity capital; and 

(2) the sale (other than to a Subsidiary of the Company or to any management equity plan or stock option plan or any other
management or employee benefit plan or agreement of the Company) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Company; 
 in each case designated as Excluded Contributions pursuant to an Officer’s Certificate executed by the principal financial officer of the Company on the date such capital contributions are made or
the date such Equity Interests are sold, as the case may be, which are excluded from the calculation set forth in clause (3) of Section 4.07(a) hereof. 
 “Fixed Charge Coverage Ratio” means, with respect to any Person for any period, the ratio of EBITDA of such Person for such period to the Fixed Charges of such Person for such period. In
the event that the Company or any Restricted Subsidiary incurs, assumes, guarantees, redeems, retires or extinguishes any Indebtedness (other than Indebtedness incurred under any revolving credit facility for working capital purposes unless such
Indebtedness has been permanently repaid and has not been replaced) or issues or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but prior to or
simultaneously with the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Fixed Charge Coverage Ratio Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro
forma effect to such incurrence, assumption, guarantee, redemption, retirement or extinguishment of Indebtedness, or such issuance or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the
applicable four-quarter period. 

  
 16 

 For purposes of making the computation referred to above, Investments, acquisitions,
dispositions, mergers, consolidations and discontinued operations (as determined in accordance with GAAP) that have been made by the Company or any of its Restricted Subsidiaries during the four-quarter reference period or subsequent to such
reference period and on or prior to or simultaneously with the Fixed Charge Coverage Ratio Calculation Date shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers,
consolidations and discontinued operations (and the change in any associated fixed charge obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such
period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Company or any of its Restricted Subsidiaries since the beginning of such period shall have made any Investment, acquisition, disposition, merger,
consolidation or discontinued operation that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment,
acquisition, disposition, merger, consolidation or discontinued operation had occurred at the beginning of the applicable four-quarter period. 
 For purposes of this definition, whenever pro forma effect is to be given to an Investment, acquisition, disposition, merger or consolidation (including the Transactions), the pro
forma calculations shall be made in good faith by a responsible financial or accounting officer of the Company (and may include, for the avoidance of doubt, net cost savings and net operating expense reductions resulting from such Investment,
acquisition, merger or consolidation (including the Transactions) which is being given pro forma effect that have been or are reasonably expected to be realized and are set forth in an Officer’s Certificate). If any Indebtedness
bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the Fixed Charge Coverage Ratio Calculation Date had been the applicable rate for
the entire period (taking into account any Hedging Obligations applicable to such Indebtedness). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting
officer of the Company to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility
computed on a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period except as set forth in the first paragraph of this definition. Interest on Indebtedness that may
optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such
optional rate chosen as the Company may designate. 
 “Fixed Charges” means, with respect to any Person for any
period, the sum of, without duplication: 
 (1) Consolidated Interest Expense of such Person for such period;

 (2) all cash dividends or other distributions paid (excluding items eliminated in consolidation) on any series
of Preferred Stock during such period; and 

  
 17 

 (3) all cash dividends or other distributions paid (excluding items
eliminated in consolidation) on any series of Disqualified Stock during such period. 
 “Foreign Subsidiary”
means, with respect to any Person, any Restricted Subsidiary of such Person that is not organized or existing under the laws of the United States, any state thereof, the District of Columbia, or any territory thereof and any Restricted Subsidiary of
such Foreign Subsidiary. 
 “GAAP” means generally accepted accounting principles in the United States of
America which are in effect on the Issue Date. 
 “Global Note Legend” means the legend set forth in
Section 2.06(g)(ii) hereof, which is required to be placed on all Global Notes issued under this Indenture. 

“Global Notes” means, individually and collectively, each of the Restricted Global Notes and the Unrestricted Global
Notes, substantially in the form of Exhibit A hereto, issued in accordance with Section 2.01, 2.06(b) or 2.06(d) hereof. 
 “Governmental Authority” means any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court, administrative
tribunal, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government. 
 “Government Securities” means securities that are: 

(1) direct obligations of the United States of America for the timely payment of which its full faith and credit is
pledged; or 
 (2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality
of the United States of America the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case, are not callable or redeemable at the option of the issuers
thereof, and shall also include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such Government Securities or a specific payment of principal of or interest on any
such Government Securities held by such custodian for the account of the holder of such depository receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder
of such depository receipt from any amount received by the custodian in respect of the Government Securities or the specific payment of principal of or interest on the Government Securities evidenced by such depository receipt. 

“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 letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations. 

  
 18 

 “Guarantee” means the guarantee by any Guarantor of the Issuers’
Obligations under this Indenture and the Notes. 
 “Guarantor” means each Subsidiary of the Company, if any,
that Guarantees the Notes in accordance with the terms of this Indenture. 
 “Hedging Obligations” means, with
respect to any Person, the obligations of such Person under any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, commodity swap agreement, commodity cap agreement, commodity collar agreement, foreign
exchange contract, currency swap agreement or similar agreement providing for the transfer or mitigation of interest rate or currency risks either generally or under specific contingencies. 

“Holder” means the Person in whose name a Note is registered on the Registrar’s books. 

“Holdings” means ASC Acquisition LLC, the direct parent of the Company. 

“Indebtedness” means, with respect to any Person, without duplication: 

(1) any indebtedness (including principal and premium) of such Person, whether or not contingent: 

(a) in respect of borrowed money; 
 (b) evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without duplication, reimbursement agreements in respect thereof); 

(c) representing the balance deferred and unpaid of the purchase price of any property (including Capitalized Lease
Obligations), except (i) any such balance that constitutes an obligation in respect of a commercial letter of credit, a trade account or an expense payable, in each case accrued in the ordinary course of business and (ii) any earn-out
obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP and if not paid after becoming due and payable; or 

(d) representing the net obligations under any Hedging Obligations; 

if and to the extent that any of the foregoing Indebtedness (other than letters of credit and Hedging Obligations) would appear as a
liability upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; 
 (2) to the extent not otherwise included, any obligation by such Person to be liable for, or to pay, as obligor, guarantor or otherwise, on the obligations of the type referred to in clause (1) of a
third Person (whether or not such items would appear upon the balance sheet of the such obligor or guarantor), other than by endorsement of negotiable instruments for collection in the ordinary course of business; and 

  
 19 

 (3) to the extent not otherwise included, the obligations of the type
referred to in clause (1) of a third Person secured by a Lien on any asset owned by such first Person, whether or not such Indebtedness is assumed by such first Person; 
 provided that notwithstanding the foregoing, Indebtedness shall be deemed not to include (a) Contingent Obligations incurred in the ordinary course of business or (b) obligations under or
in respect of Qualified Securitization Facilities. 
 “Indenture” means this Senior Subordinated Notes
Indenture, as amended or supplemented from time to time. 
 “Independent Financial Advisor” means an
accounting, appraisal, investment banking firm or consultant to Persons engaged in Similar Businesses of nationally recognized standing that is, in the good faith judgment of the Company, 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” as defined in the recitals hereto. 

“Initial Purchasers” means Goldman, Sachs & Co., J.P. Morgan Securities Inc., GE Capital Markets, Inc.,
Greenwich Capital Markets, Inc. and Natexis Bleichroeder Inc. 
 “Interest Payment Date” means January 15
and July 15 of each year to stated maturity. 
 “Investment Grade Rating” means a rating equal to or
higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by any other Rating Agency. 
 “Investment Grade Securities” means: 
 (1)
securities issued or directly and fully guaranteed or insured by the United States government or any agency or instrumentality thereof (other than Cash Equivalents); 

(2) debt securities or debt instruments with an Investment Grade Rating, but excluding any debt securities or instruments
constituting loans or advances among the Company and its Subsidiaries; 
 (3) investments in any fund that
invests exclusively in investments of the type described in clauses (1) and (2) which fund may also hold immaterial amounts of cash pending investment or distribution; and 

(4) corresponding instruments in countries other than the United States customarily utilized for high quality investments.

  
 20 

 “Investments” means, with respect to any Person, all investments by such
Person in other Persons (including Affiliates) in the form of loans (including guarantees), advances or capital contributions (excluding accounts receivable, trade credit, advances to customers, commission, travel and similar advances to employees,
directors, officers, managers and consultants, in each case made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments
that are required by GAAP to be classified on the balance sheet (excluding the footnotes) of the Company in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other
property. For purposes of the definition of “Unrestricted Subsidiary” and Section 4.07 hereof: 

(1) “Investments” shall include the portion (proportionate to the Company’s equity interest in such
Subsidiary) of the fair market value of the net assets of a Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the
Company shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to: 
 (a) the Company’s “Investment” in such Subsidiary at the time of such redesignation; less 
 (b) the portion (proportionate to the Company’s Equity Interest in such Subsidiary) of the fair market value of the net assets of such Subsidiary at the time of such redesignation; and 

(2) any property transferred to or from an Unrestricted Subsidiary shall be valued at its fair market value at the time of
such transfer. 
 Except as otherwise provided for herein, the amount of an Investment shall be its fair market value at the
time the Investment is made and without giving effect to subsequent changes in value. 
 “Issue Date” means
June 29, 2007. 
 “Issuers” means the Company and the Co-Issuer. 

“Issuers’ Order” means a written request or order signed on behalf of the Issuers by an Officer of each of the
Issuers, who must be the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Company, and delivered to the Trustee. 

“Legal Holiday” means a Saturday, a Sunday or a day on which commercial banking institutions are not required to be open
in the State of New York or place of payment. 
 “Lien” means, with respect to any asset, any mortgage, lien
(statutory or otherwise), pledge, hypothecation, charge, security interest, preference, priority 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 

  
 21 

 
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; provided that in no event shall an operating lease be deemed to constitute a Lien. 
 “Management Agreements” means the management, service or similar agreements pursuant to which the Company, or any of its Qualified Restricted Subsidiaries manages the assets and
businesses of any of its Restricted Subsidiaries. 
 “Management Fee Agreement” means the management agreement
between certain of the management companies associated with the Sponsor or its advisors, if applicable, and the Company. 

“Management Stockholders” means the members of management of the Company (or its direct parent) who are holders of
Equity Interests of any direct or indirect parent companies of the Company on the Issue Date or will become holders of such Equity Interests in connection with the Transactions. 

“Merger” means the merger of Surgery Centers Merger Sub LLC, a Delaware limited liability company, with and into
Surgical Care Affiliates, LLC, a Delaware limited liability company, with Surgical Care Affiliates, LLC as the surviving company, pursuant to the Transaction Agreement. 
 “Minority Investment” means any Person other than a Subsidiary in which the Company or any Restricted Subsidiary owns any Equity Interests. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor to its rating agency business. 

“Net Income” means, with respect to any Person, the net income (loss) of such Person, determined in accordance with GAAP
and before any reduction in respect of Preferred Stock dividends. 
 “Net Proceeds” means the aggregate cash
proceeds received by the Company or any of its Restricted Subsidiaries in respect of any Asset Sale, including any cash received upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale, net of the
direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash Consideration, including legal, accounting and investment banking fees, payments made in order to obtain a necessary consent or required by applicable
law, and brokerage and sales commissions, any relocation expenses incurred as a result thereof, other fees and expenses, including title and recordation expenses, taxes paid or payable as a result thereof (after taking into account any available tax
credits or deductions and any tax sharing arrangements), amounts required to be applied to the repayment of principal, premium, if any, and interest on Senior Indebtedness required (other than required by clause (1) of Section 4.10(b)
hereof) to be paid as a result of such transaction, any deduction of appropriate amounts to be provided by the Company or any of its Restricted Subsidiaries as a reserve in accordance with GAAP against any liabilities associated with the asset
disposed of in such transaction and retained by the Company or any of its Restricted Subsidiaries after such sale or other disposition 

  
 22 

 
thereof, including pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such
transaction, any distributions and other payments required to be made to minority interest holders in Subsidiaries or joint ventures as a result of such Asset Sale and, in the event that a Restricted Subsidiary consummates an Asset Sale and makes a
pro rata payment of dividends to all of its stockholders from any cash proceeds of such Asset Sale, the amount of dividends paid to any stockholder other than the Company or any other Restricted Subsidiary, provided that any net
proceeds of an Asset Sale by a non-guarantor Subsidiary (other than the Co-Issuer) that are subject to legal or contractual restrictions on repatriation to the Company will not be considered Net Proceeds for so long as such proceeds are subject to
such restrictions; provided, however, that any such contractual restrictions on repatriation were not entered into in contemplation of such Asset Sale. 
 “Non-U.S. Person” means a Person who is not a U.S. Person. 

“Notes” means the Initial Notes and any Additional Notes. 

“Obligations” means any principal, interest (including any interest accruing on or subsequent to the filing of a
petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under applicable state, federal or foreign law), premium, penalties,
fees, indemnifications, reimbursements (including reimbursement obligations with respect to letters of credit and banker’s acceptances), damages and other liabilities, and guarantees of payment of such principal, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities, payable under the documentation governing any Indebtedness. 

“Offering Circular” means the confidential offering circular, dated June 21, 2007, relating to the sale of the
Initial Notes. 
 “Officer” means the Chairman of the board of directors, the Chief Executive Officer, the
President, any Executive Vice President, Senior Vice President or Vice President, the Treasurer or the Secretary of the Company. 
 “Officer’s Certificate” means a certificate signed on behalf of a Person by an Officer of such Person, who must be the principal executive officer, the principal financial officer,
the treasurer or the principal accounting officer of such Person, that meets the requirements set forth in this Indenture. 

“Operating Facility EBITDA” means, for any period, EBITDA of the Company and the Restricted Subsidiaries, plus
(1) the amount of any minority interest expense for such period consisting of Subsidiary income attributable to minority Equity Interests of third parties in any non-Wholly Owned Subsidiary plus (2) corporate-level general and
administrative expenses for such period, minus (3) income recognized by the Company or any Restricted Subsidiary from any Minority Investment during such period. 
 “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the Trustee. The counsel may be an employee of or counsel to the Company or the Trustee. 

  
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 “Participant” means, with respect to the Depositary, a Person who has an
account with the Depositary (and, with respect to DTC, shall include Euroclear and Clearstream). 
 “Permitted Asset
Swap” means the substantially concurrent purchase and sale or exchange of Related Business Assets or a combination of Related Business Assets and Cash Equivalents between the Company or any of its Restricted Subsidiaries and another Person;
provided that any Cash Equivalents received must be applied in accordance with Section 4.10 hereof. 

“Permitted Holders” means each of the Sponsor, the Co-Investors and Management Stockholders and any group (within the
meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act or any successor provision) of which any of the foregoing are members; provided that, in the case of such group and without giving effect to the existence of such group or
any other group, the Sponsor, the Co-Investors and Management Stockholders, collectively, have beneficial ownership of more than 50.0% of the total voting power of the Voting Stock of the Company or any of its direct or indirect parent companies.
Any Person or group whose acquisition of beneficial ownership constitutes a Change of Control in respect of which a Change of Control Offer is made in accordance with the requirements of this Indenture will thereafter, together with its Affiliates,
constitute an additional Permitted Holder. 
 “Permitted Investments” means: 

(1) any Investment by the Company or the Co-Issuer in any other Qualified Restricted Subsidiary or by any Restricted
Subsidiary in the Company, the Co-Issuer or any other Qualified Restricted Subsidiary; 
 (2) any Investment in
Cash Equivalents or Investment Grade Securities; 
 (3) any Investment by the Company or any of its Restricted
Subsidiaries in a Person that is engaged in a Similar Business if as a result of such Investment: 
 (a) such
Person becomes a Restricted Subsidiary; or 
 (b) such Person, in one transaction or a series of related
transactions, is merged or consolidated with or into, or transfers or conveys substantially all of its assets to, or is liquidated into, the Company or a Restricted Subsidiary, 
 and, in each case, any Investment held by such Person; provided that such Investment was not acquired by such Person in contemplation of such acquisition, merger, consolidation or transfer;

 (4) any Investment in securities or other assets not constituting Cash Equivalents or Investment Grade
Securities and received in connection with an Asset Sale made pursuant to the provisions described under Section 4.10 hereof or any other disposition of assets not constituting an Asset Sale; 

  
 24 

 (5) any Investment existing on the Issue Date or made pursuant to binding
commitments in effect on the Issue Date or an Investment consisting of any extension, modification or renewal of any Investment existing on the Issue Date; provided that the amount of any such Investment may be increased (a) as required
by the terms of such Investment as in existence on the Issue Date or (b) as otherwise permitted under this Indenture; 
 (6) any Investment acquired by the Company or any of its Restricted Subsidiaries: 
 (a) in exchange for any other Investment or accounts receivable held by the Company or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or
recapitalization of the issuer of such other Investment or accounts receivable (including any trade creditor or customer); or 
 (b) 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;

 (7) Hedging Obligations permitted under clause (10) of Section 4.09(b) hereof; 

(8) [reserved]; 
 (9) Investments the payment for which consists of Equity Interests (other than Disqualified Stock) of the Company, or any of its direct or indirect parent companies; provided that such Equity
Interests will not increase the amount available for Restricted Payments under clause (3) of Section 4.07(a) hereof; 
 (10) guarantees of Indebtedness permitted under Section 4.09 hereof; 
 (11) any transaction to the extent it constitutes an Investment that is permitted by and made in accordance with the provisions of Section 4.11(b) hereof (except transactions described in clauses
(2), (5), (9) and (15) of Section 4.11(b) hereof); 
 (12) Investments consisting of purchases and
acquisitions of inventory, supplies, material or equipment or the licensing or contribution of intellectual property pursuant to joint marketing arrangements with other Persons; 

(13) additional Investments, taken together with all other Investments made pursuant to this clause (13) that are at
that time outstanding, not to exceed the greater of (a) $50.0 million and (b) 5.0% of Total Assets; provided, however, that if any Investment pursuant to this clause (13) is made in any Person that is not a Qualified Restricted
Subsidiary of the Company at the date of the making of such Investment and such Person becomes a Qualified Restricted Subsidiary of the Company after such date, such Investment shall thereafter be deemed to have been made pursuant to clause
(1) above and shall cease to have been made pursuant to this clause (13) for so long as such Person continues to be a Qualified Restricted Subsidiary (it being understood that if such Person thereafter ceases to be a Qualified Restricted
Subsidiary of the Company, such Investment will again be deemed to have been made pursuant to this clause (13)); 

  
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 (14) Investments in or relating to a Securitization Subsidiary that, in the
good faith determination of the Company are necessary or advisable to effect any Qualified Securitization Facility or any repurchase obligation in connection therewith; 

(15) advances to, or guarantees of Indebtedness of, employees not in excess of $3.0 million outstanding at any one time,
in the aggregate; 
 (16) loans and advances to employees, directors, officers, managers and consultants for
business-related travel expenses, moving expenses and other similar expenses, in each case incurred in the ordinary course of business or consistent with past practices or to fund such Person’s purchase of Equity Interests of the Company or any
direct or indirect parent company thereof; 
 (17) advances, loans or extensions of trade credit in the ordinary
course of business by the Company or any of its Restricted Subsidiaries; 
 (18) [reserved]; 

(19) Investments consisting of purchases and acquisitions of assets or services in the ordinary course of business;

 (20) Investments made in the ordinary course of business in connection with obtaining, maintaining or renewing
client contacts in the ordinary course of business; 
 (21) Investments in prepaid expenses, negotiable
instruments held for collection and lease, utility and workers compensation, performance and similar deposits entered into as a result of the operations of the business in the ordinary course of business; 

(22) Investments made in joint ventures (regardless of the legal form) or Unrestricted Subsidiaries in an aggregate
amount, taken together with all other Investments made pursuant to this clause (22), not to exceed the greater of (i) $150.0 million and (ii) 15.0% of Total Assets; provided, however, that if any Investment pursuant to this clause
(22) is made in any Person that is not a Qualified Restricted Subsidiary of the Company at the date of the making of such Investment and such Person becomes a Qualified Restricted Subsidiary of the Company after such date, such Investment shall
thereafter be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this clause (22) for so long as such Person continues to be a Qualified Restricted Subsidiary (it being understood that if
such Person thereafter ceases to be a Qualified Restricted Subsidiary of the Company, such Investment will again be deemed to have been made pursuant to this clause (22)); 

(23) repurchases of the Notes; and 

  
 26 

 (24) payments to any Captive Insurance Subsidiary in an amount equal to
(a) the capital required under the applicable laws or regulations of the jurisdiction in which such Captive Insurance Subsidiary is formed or determined by independent actuaries as prudent and necessary capital to operate such Captive Insurance
Subsidiary plus (b) any reasonable general corporate and overhead expenses of such Captive Insurance Subsidiary. 

“Permitted Junior Securities” means: 

(1) Equity Interests in the Company, the Co-Issuer or any Guarantor or any direct or indirect parent company of the
Company; or 
 (2) unsecured debt securities that are subordinated to all Senior Indebtedness (and any debt
securities issued in exchange for Senior Indebtedness) to substantially the same extent as, or to a greater extent than, the Notes and the related Guarantees are subordinated to Senior Indebtedness under this Indenture; provided that the term
“Permitted Junior Securities” shall not include any securities distributed pursuant to a plan of reorganization if the Indebtedness under the Senior Credit Facilities is treated as part of the same class as the Notes for purposes of such
plan of reorganization; provided, further, that to the extent that any Senior Indebtedness of the Issuers outstanding on the date of consummation of any such plan of reorganization is not paid in full in cash on such date, the holders
of any such Senior Indebtedness not so paid in full in cash have consented to the terms of such plan of reorganization. 

“Permitted Liens” means, with respect to any Person: 

(1) pledges or deposits by such Person under workmen’s compensation laws, unemployment insurance, other social
security benefits or other insurance-related obligations (including, but not limited to, in respect of deductibles, self-insured retention amounts and premiums and adjustments thereto), or good faith deposits in connection with bids, tenders,
contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or U.S. government bonds to secure surety or appeal bonds to
which such Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case incurred in the ordinary course of business; 

(2) Liens imposed by law, such as carriers’, warehousemen’s and mechanics’ Liens, in each case for sums not
yet overdue for a period of more than 30 days or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal
or other proceedings for review if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP; 
 (3) Liens for taxes, assessments or other governmental charges not yet overdue for a period of more than 30 days or not yet payable or subject to penalties for nonpayment or which are being contested in
good faith by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP; 

  
 27 

 (4) Liens in favor of issuers of performance and surety bonds or bid bonds
or with respect to other regulatory requirements or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business; 

(5) minor survey exceptions, minor encumbrances, easements or reservations of, or rights of others for, licenses,
rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real properties or Liens incidental, to the conduct of the business of such Person or to the ownership
of its properties which were not incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person;

 (6) Liens securing Indebtedness permitted to be incurred pursuant to clause (4) or (13) of
Section 4.09(b) hereof; provided that (a) Liens securing Indebtedness, Disqualified Stock or Preferred Stock permitted to be incurred pursuant to clause (13) relate only to Refinancing Indebtedness that serves to refund or
refinance Indebtedness, Disqualified Stock or Preferred Stock incurred under clause (4) of Section 4.09(b) hereof and (b) Liens securing Indebtedness, Disqualified Stock or Preferred Stock to be incurred pursuant to clause (4) of
Section 4.09(b) hereof extend only to the assets so financed, purchased, constructed or improved; 
 (7)
Liens existing on the Issue Date (including the Liens granted pursuant to Section 7.07 hereof); 
 (8) Liens
on property or shares of stock or other assets of a Person at the time such Person becomes a Subsidiary; provided that such Liens are not created or incurred in connection with, or in contemplation of, such other Person becoming such a
Subsidiary; provided, further, that such Liens may not extend to any other property or other assets owned by the Company or any of its Restricted Subsidiaries; 

(9) Liens on property or other assets at the time the Company or a Restricted Subsidiary acquired the property or such
other assets, including any acquisition by means of a merger or consolidation with or into the Company or any of its Restricted Subsidiaries; provided that such Liens are not created or incurred in connection with, or in contemplation of,
such acquisition; provided, further, that the Liens may not extend to any other property owned by the Company or any of its Restricted Subsidiaries; 

(10) Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the Company or another
Restricted Subsidiary permitted to be incurred in accordance with Section 4.09 hereof; 
 (11) Liens
securing Hedging Obligations; provided that, with respect to Hedging Obligations relating to Indebtedness, such Indebtedness is, and is permitted to be under this Indenture, secured by a Lien on the same property securing such Hedging
Obligations; 
 (12) Liens on specific items of inventory or other goods and proceeds of any Person securing such
Person’s obligations in respect of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

  
 28 

 (13) leases, subleases, licenses or sublicenses granted to others in the
ordinary course of business which do not materially interfere with the ordinary conduct of the business of the Company or any of its Restricted Subsidiaries and do not secure any Indebtedness; 

(14) Liens arising from Uniform Commercial Code financing statement filings regarding operating leases entered into by the
Company and its Restricted Subsidiaries in the ordinary course of business; 
 (15) Liens in favor of the
Company, the Co-Issuer or any Guarantor; 
 (16) Liens on accounts receivable and related assets incurred in
connection with a Qualified Securitization Facility; 
 (17) Liens to secure any refinancing, refunding,
extension, renewal or replacement (or successive refinancing, refunding, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (6), (7), (8) and (9);
provided that (a) such new Lien shall be limited to all or part of the same property that secured the original Lien (plus improvements on such property), and (b) the Indebtedness secured by such Lien at such time is not increased to
any amount greater than the sum of (i) the outstanding principal amount or, if greater, committed amount of the Indebtedness described under clauses (6), (7), (8) and (9) at the time the original Lien became a Permitted Lien under
this Indenture, and (ii) an amount necessary to pay any fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement; 

(18) deposits made in the ordinary course of business to secure liability to insurance carriers; 

(19) other Liens securing obligations incurred in the ordinary course of business which obligations do not exceed at any
one time outstanding the greater of (a) $10.0 million and (b) 1.0% of Total Assets determined as of the date of incurrence; 
 (20) Liens securing judgments for the payment of money not constituting an Event of Default under clause (5) of Section 6.01 hereof so long as such Liens are adequately bonded and any
appropriate legal proceedings that may have been duly initiated for the review of such judgment have not been finally terminated or the period within which such proceedings may be initiated has not expired; 

(21) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in
connection with the importation of goods in the ordinary course of business; 

  
 29 

 (22) (a) Liens of a collection bank arising under Section 4-210 of
the Uniform Commercial Code on items in the course of collection and (b) Liens encumbering reasonable customary deposits and margin deposits and similar Liens attaching to commodity trading accounts or other commodity brokerage accounts
incurred in the ordinary course of business and not for speculative purposes; 
 (23) Liens deemed to exist in
connection with Investments in repurchase agreements permitted under Section 4.09 hereof; provided that such Liens do not extend to any assets other than those that are the subject of such repurchase agreement; 

(24) Liens that are contractual rights of set-off (a) relating to the establishment of depository relations with
banks not given in connection with the issuance of Indebtedness, (b) relating to pooled deposit or sweep accounts of the Company or any of its Restricted Subsidiaries to permit satisfaction of overdraft or similar obligations incurred in the
ordinary course of business of the Company and its Restricted Subsidiaries or (c) relating to purchase orders and other agreements entered into with customers of the Company or any of its Restricted Subsidiaries in the ordinary course of
business; 
 (25) Liens securing obligations owed by the Company or any Restricted Subsidiary to any lender under
the Credit Facilities or any Affiliate of such a lender in respect of any overdraft and related liabilities arising from treasury, depository and cash management services or any automated clearing house transfers of funds; 

(26) any encumbrance or restriction (including put and call arrangements) with respect to capital stock of any joint
venture or similar arrangement pursuant to any joint venture or similar agreement; 
 (27) Liens arising out of
conditional sale, title retention, consignment or similar arrangements for the sale or purchase of goods entered into by the Company or any Restricted Subsidiary in the ordinary course of business; 

(28) Liens solely on any cash earnest money deposits made by the Company or any of its Restricted Subsidiaries in
connection with any letter of intent or purchase agreement permitted; 
 (29) ground leases in respect of real
property on which facilities owned or leased by the Company or any of its Subsidiaries are located; 
 (30) Liens
on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto; 

(31) Liens on Capital Stock of an Unrestricted Subsidiary that secure Indebtedness or other obligations of such
Unrestricted Subsidiary; and 
 (32) Liens on the assets of a non-guarantor Restricted Subsidiary (other than the
Co-Issuer) securing Indebtedness of such Restricted Subsidiary that is permitted by the terms of this Indenture to be incurred. 

  
 30 

 For purposes of this definition, the term “Indebtedness” shall be deemed to
include interest on such Indebtedness. 
 “Permitted Payment Restriction” means any consensual encumbrance or
restriction (each, as used in this definition, a “restriction”) on the ability of any Restricted Subsidiary to (1) pay dividends or make any other distributions on its Equity Interests to the Company or a Restricted Subsidiary
or to make any payment with respect to any Indebtedness owed by it to the Company or a Restricted Subsidiary or (2) make any loans or advances to the Company or a Restricted Subsidiary, which restriction satisfies all of the following
conditions: (a) such restriction becomes effective only upon the occurrence of (x) specified events under its charter or (y) a default by such Restricted Subsidiary in the payment of principal or interest, a bankruptcy default, a
default on any financial covenant or any other material default, in each case with respect to Indebtedness that was incurred by such Restricted Subsidiary under Section 4.09 hereof and (b) such restriction would not materially impair the
Issuers’ ability to make scheduled payments of cash interest and to make required principal payments on the Notes, as determined (i) at the time of any proposed Investment by the Company or any other Restricted Subsidiary in such
Restricted Subsidiary, (ii) at the time of any proposed purchase, redemption or other acquisition by the Company or any other Restricted Subsidiary from Strategic Investors of Equity Interests in such Restricted Subsidiary and (iii) at the
time of any proposed incurrence of Indebtedness by such Restricted Subsidiary, in each case to the extent otherwise permitted under this Indenture, in good faith by the chief executive officer or chief financial officer of the Company (or, by the
board of directors of the Company if the amount of any such transaction would be greater than $7.5 million) whose determination shall be conclusive. 
 “Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint stock company, trust, unincorporated organization, government or any
agency or political subdivision thereof or any other entity. 
 “Preferred Stock” means any Equity Interest
with preferential rights of payment of dividends or upon liquidation, dissolution, or winding up. 
 “Private Placement
Legend” means the legend set forth in Section 2.06(g)(i) hereof to be placed on all Notes issued under this Indenture, except where otherwise permitted by the provisions of this Indenture. 

“QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Qualified Proceeds” means the fair market value of assets that are used or useful in, or Capital Stock of any Person
engaged in, a Similar Business. 
 “Qualified Restricted Subsidiary” means (1) any Restricted Subsidiary
of the Company that satisfies all of the following requirements: (a) except for Permitted Payment Restrictions, there are no restrictions (other than any customary restrictions arising under any state law) on the ability of such Restricted
Subsidiary to pay dividends or make distributions to the holders of its Equity Interests; (b) except to the extent restricted pursuant to a Permitted Payment Restriction, such Restricted Subsidiary customarily declares and pays regular monthly,
quarterly or semi-annual dividends or distributions to the holders of its Equity Interests in an 

  
 31 

 
amount equal to substantially all of the available cash flow of such Restricted Subsidiary for such period, as determined in good faith by its board of directors, subject to such ordinary and
customary reserves and other amounts as, in the good faith judgment of such board of directors, may be necessary so that the business of such Restricted Subsidiary may be properly and advantageously conducted at all times, and the Company intends to
cause such Restricted Subsidiary to continue to declare and pay such regular dividends or distributions in the manner set forth above; and (c) the Equity Interests of such Restricted Subsidiary consist solely of (i) Equity Interests owned
by the Company, Qualified Restricted Subsidiaries of the Company and/or Strategic Investors and (ii) directors’ qualifying shares and (2) the Co-Issuer or any Guarantor. 

“Qualified Securitization Facility” means any Securitization Facility that meets the following conditions: (a) the
board of directors of the Company shall have determined in good faith that such Securitization Facility (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to the
Company and the applicable Securitization Subsidiary, (b) all sales and/or contributions of accounts receivable and related assets to the applicable Securitization Subsidiary are made at fair market value (as determined in good faith by the
Company) and (c) the financing terms, covenants, termination events and other provisions thereof shall be market terms (as determined in good faith by the Company). 
 “Rating Agencies” means Moody’s and S&P or if Moody’s or S&P 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 which shall be substituted for Moody’s or S&P or both, as the case may be. 
 “Record Date” for the interest payable on any applicable Interest Payment Date means the January 1 and July 1 (whether or not a Business Day) immediately preceding such Interest
Payment Date. 
 “Regulation S” means Regulation S promulgated under the Securities Act. 

“Regulation S Global Note” means a Regulation S Temporary Global Note or Regulation S Permanent Global Note, as
applicable. 
 “Regulation S Permanent Global Note” means a permanent Global Note in the form of Exhibit
A hereto, bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the
Regulation S Temporary Global Note upon expiration of the Restricted Period. 
 “Regulation S Temporary Global
Note” means a temporary Global Note in the form of Exhibit A hereto, bearing the Global Note Legend, the Private Placement Legend and the Regulation S Temporary Global Note Legend and deposited with or on behalf of, and registered in
the name of, the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the Notes initially sold in reliance on Rule 903. 

  
 32 

 “Regulation S Temporary Global Note Legend” means the legend set forth in
Section 2.06(g)(iii) hereof. 
 “Related Business Assets” means assets (other than Cash Equivalents) used
or useful in a Similar Business, provided that any assets received by the Company or a Restricted Subsidiary in exchange for assets transferred by the Company or a Restricted Subsidiary shall not be deemed to be Related Business Assets if
they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary. 
 “Representative” means any trustee, agent or other representative for an issue of Senior Indebtedness of the Issuers. 

“Responsible Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of
the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the
time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such Person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of
this Indenture. 
 “Restricted Definitive Note” means a Definitive Note bearing, or that is required to bear,
the Private Placement Legend. 
 “Restricted Global Note” means a Global Note bearing, or that is required to
bear, the Private Placement Legend. 
 “Restricted Investment” means an Investment other than a Permitted
Investment. 
 “Restricted Period” means the 40-day distribution compliance period as defined in Regulation S.

 “Restricted Subsidiary” means, at any time, any direct or indirect Subsidiary of the Company (including any
Foreign Subsidiary) that is not then an Unrestricted Subsidiary; provided that upon an Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be included in the definition of “Restricted Subsidiary.”

 “Reverted Assets” means any assets or properties (including, without limitation, contract rights and Equity
Interests) transferred by HealthSouth Corporation to Holdings pursuant to the Transaction Agreement that HealthSouth Corporation is required to repurchase pursuant to the Transaction Agreement as a result of the exercise by a Strategic Investor on
or after the Issue Date of any consent rights, rights of first refusal or similar rights with respect to such assets or properties existing on the Issue Date with respect to the transfer or other disposition of such assets or properties pursuant to
the Transactions. Reverted Assets shall also include any assets that (1) are not transferred on the Issue Date as part of the Acquisition (or are transferred subject to a contingent divestiture agreement with a Governmental Authority) as a
result of the failure to obtain required approvals of or consents to such transfer by the appropriate Governmental Authority on or prior to the Issue Date but are subject on the Issue Date to certain contractual arrangements whereby the Company and
its Restricted Subsidiaries obtain substantially all of the economic benefits of ownership thereof, pending regulatory approval, and (2) do not receive such required approvals within twelve months of the Issue Date, resulting in the termination
of such arrangements and a post-closing purchase price adjustment. 

  
 33 

 “Reverted Asset Disposition” means a Disposition of Reverted Assets by the
Company or any Restricted Subsidiary to HealthSouth Corporation (or any Affiliate thereof) or any Strategic Investor. 

“Rule 144” means Rule 144 promulgated under the Securities Act. 

“Rule 144A” means Rule 144A promulgated under the Securities Act. 

“Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

“S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., and any successor to its
rating agency business. 
 “Sale and Lease-Back Transaction” means any arrangement providing for the leasing by
the Company or any of its Restricted Subsidiaries of any real or tangible personal property, which property has been or is to be sold or transferred by the Company or such Restricted Subsidiary to a third Person in contemplation of such leasing.

 “SEC” means the U.S. Securities and Exchange Commission. 

“Secured Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries secured by a Lien.

 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC
promulgated thereunder. 
 “Securitization Facility” means any of one or more receivables or financing
facilities as amended, supplemented, modified, extended, renewed, restated or refunded from time to time, the Obligations of which are non-recourse (except for customary representations, warranties, covenants and indemnities made in connection with
such facilities) to the Company or any of its Restricted Subsidiaries (other than a Securitization Subsidiary) pursuant to which the Company or any of its Restricted Subsidiaries sells or grants a security interest in its accounts receivable or
assets related thereto to either (a) a Person that is not a Restricted Subsidiary or (b) a Securitization Subsidiary that in turn sells its accounts receivable to a Person that is not a Restricted Subsidiary. 

“Securitization Fees” means distributions or payments made directly or by means of discounts with respect to any
participation interest issued or sold in connection with, and other fees paid to a Person that is not a Securitization Subsidiary in connection with, any Qualified Securitization Facility. 

  
 34 

 “Securitization Subsidiary” means any Subsidiary formed for the purpose of,
and that solely engages only in one or more Qualified Securitization Facilities and other activities reasonably related thereto. 
 “Senior Credit Facilities” means the term and revolving credit facilities under the Credit Agreement to be entered into as of the Issue Date by and among the Company, the lenders party
thereto in their capacities as lenders thereunder and JPMorgan Chase Bank, N.A., as Administrative Agent, including any guarantees, collateral documents, instruments and agreements executed in connection therewith. 

“Senior Indebtedness” means: 
 (1) all Indebtedness of the Company, the Co-Issuer or any Guarantor outstanding under the Senior Credit Facilities or the Senior Notes and related Guarantees (including interest accruing on or after the
filing of any petition in bankruptcy or similar proceeding or for reorganization of the Company, the Co-Issuer or any Guarantor (at the rate provided for in the documentation with respect thereto, regardless of whether or not a claim for post-filing
interest is allowed in such proceedings)), and any and all other fees, expense reimbursement obligations, indemnification amounts, penalties, and other amounts (whether existing on the Issue Date or thereafter created or incurred) and all
obligations of the Company, the Co-Issuer or any Guarantor to reimburse any bank or other Person in respect of amounts paid under letters of credit, acceptances or other similar instruments; 

(2) all Hedging Obligations (and guarantees thereof) owing to a lender under the Credit Facilities or any Affiliate of
such lender (or any Person that was a lender or an Affiliate of such lender at the time the applicable agreement giving rise to such Hedging Obligation was entered into), provided that such Hedging Obligations are permitted to be incurred
under the terms of this Indenture; 
 (3) any other Indebtedness of the Company, the Co-Issuer or any Guarantor
permitted to be incurred under the terms of this Indenture, unless the instrument under which such Indebtedness is incurred expressly provides that it is on a parity with or subordinated in right of payment to the Notes or any related Guarantee; and

 (4) all Obligations with respect to the items listed in the preceding clauses (1), (2) and (3);

 provided that Senior Indebtedness shall not include: 

(a) any obligation of such Person to the Company or any of its Subsidiaries; 

(b) any liability for federal, state, local or other taxes owed or owing by such Person; 

  
 35 

 (c) any accounts payable or other liability to trade creditors arising in
the ordinary course of business (including guarantees thereof or instruments evidencing such liabilities); 
 (d)
any Indebtedness or other Obligation of such Person which is subordinate or junior in any respect to any other Indebtedness or other Obligation of such Person; or 

(e) that portion of any Indebtedness which at the time of incurrence is incurred in violation of this Indenture,
provided that such Indebtedness shall be deemed not to have been incurred in violation of this Indenture for purposes of this clause if such Indebtedness consists of Designated Senior Indebtedness, and the holder(s) of such Indebtedness or
their Representative (i) had no actual knowledge at the time of incurrence of such Indebtedness violated this Indenture and (ii) shall have received a certificate from an Officer of the Company to the effect that the incurrence of such
Indebtedness does not (or, in the case of a revolving credit facility thereunder, the incurrence of the entire committed amount thereof at the date on which the initial borrowing is made thereunder would not) violate the provision of this Indenture.

 “Senior Indenture” means the Senior Notes Indenture dated as of the Issue Date, among the Issuers, the
Guarantors and the Trustee, pursuant to which the Senior Notes were issued. 
 “Senior Notes” means the $150.0
million aggregate principal amount of the Issuers’ 8.875% / 9.625% senior PIK-election notes due July 15, 2015 issued on the Issue Date, and any increase in the principal amount of such senior PIK-election notes and any additional senior
PIK-election notes issued, in each case as a result of any PIK Payment (as defined under “Description of Senior Notes—Principal, Maturity and Interest” in the Offering Circular). 

“Senior Subordinated Indebtedness” means: 

(1) with respect to the Company or the Co-Issuer, Indebtedness which ranks equal in right of payment to the Notes issued
by the Company or the Co-Issuer; and 
 (2) with respect to any Guarantor, Indebtedness which ranks equal in
right of payment to the Guarantee of such Person of the Notes; 
 provided that such Indebtedness is not subordinated by
its terms in right of payment to any Indebtedness which is not Senior Indebtedness. 
 “Significant Subsidiary”
means any Restricted 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 Issue Date. 

“Similar Business” means (1) any business engaged in by the Company or any of its Restricted Subsidiaries on the
Issue Date, and (2) any business or other activities that are reasonably similar, ancillary, complementary or related to, or a reasonable extension, development or expansion of, the businesses in which the Company and its Restricted
Subsidiaries are engaged on the Issue Date. 

  
 36 

 “Sponsor” means TPG Capital and, if applicable, each of its Affiliates and
funds or partnerships managed by it or its Affiliates but not including, however, any portfolio companies of any of the foregoing. 
 “Strategic Investors” means (1) physicians, hospitals, health systems, other healthcare providers, other healthcare companies and other similar strategic joint venture partners which
joint venture partners are or, in connection with a resyndication, will become actively involved in the provision of surgical care and surgery-related services and (2) consultants that receive Equity Interests in joint ventures that provide
surgical care or surgery-related services as consideration for consulting services performed. 
 “Subordinated
Indebtedness” means, with respect to the Notes, 
 (1) any Indebtedness of the Company or the Co-Issuer
which is by its terms subordinated in right of payment to the Notes, and 
 (2) any Indebtedness of any Guarantor
which is by its terms subordinated in right of payment to the Guarantee of such entity of the Notes. 

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business
entity (excluding, for the avoidance of doubt, charitable foundations) (1) of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than
securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both,
by such Person or (2) the accounts of which are consolidated with such Person’s in such Person’s consolidated financial statements in accordance with GAAP. Unless otherwise specified, all references herein to a “Subsidiary”
or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Company. 
 “Total Assets”
means the total assets of the Company and its Restricted Subsidiaries, determined on a consolidated basis in accordance with GAAP, as shown on the most recent balance sheet of the Company. 

“Transaction Agreement” means the Stock Purchase Agreement, dated as of March 25, 2007 between HealthSouth
Corporation and Holdings, as the same may be amended prior to the Issue Date. 
 “Transactions” means the
transactions contemplated by the Transaction Agreement, the issuance of the Notes and the Senior Notes and borrowings under the Senior Credit Facilities, in each case on the Issue Date. 

“Treasury Rate” means, as of any Redemption Date, the yield to maturity as of such Redemption Date of United States
Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become 

  
 37 

 
publicly available at least two Business Days prior to the Redemption Date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most
nearly equal to the period from the Redemption Date to July 15, 2012; provided that if the period from the Redemption Date to such date is less than one year, the weekly average yield on actually traded United States Treasury securities
adjusted to a constant maturity of one year will be used. 
 “Trustee” means Wells Fargo Bank, National
Association, as trustee, until a successor replaces it in accordance with the applicable provisions of this Indenture and thereafter means the successor serving hereunder. 
 “Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from time to time. 
 “Unrestricted Definitive Note” means one or more Definitive Notes that do not bear and are not required to bear the Private Placement Legend. 

“Unrestricted Global Note” means a permanent Global Note, substantially in the form of Exhibit A attached hereto, that
bears the Global Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and that is deposited with or on behalf of and registered in the name of the Depositary, representing Notes that do not
bear the Private Placement Legend. 
 “Unrestricted Subsidiary” means: 

(1) any Subsidiary of the Company which at the time of determination is an Unrestricted Subsidiary (as designated by the
Company, as provided below); and 
 (2) any Subsidiary of an Unrestricted Subsidiary. 

The Company may designate any Subsidiary of the Company (including any existing Subsidiary and any newly acquired or newly formed
Subsidiary but excluding the Co-Issuer) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on, any property of, the Company or any Subsidiary of
the Company (other than solely any Subsidiary of the Subsidiary to be so designated); provided that 
 (1)
any Unrestricted Subsidiary must be an entity of which the Equity Interests entitled to cast at least a majority of the votes that may be cast by all Equity Interests having ordinary voting power for the election of directors or Persons performing a
similar function are owned, directly or indirectly, by the Company; 
 (2) such designation complies with
Section 4.07 hereof; and 
 (3) each of (a) the Subsidiary to be so designated; and (b) its
Subsidiaries has not at the time of designation, and does not thereafter, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable with respect to any Indebtedness pursuant to which the lender has recourse to any of
the assets of the Company or any Restricted Subsidiary. 

  
 38 

 The Company may designate any Unrestricted Subsidiary to be a Restricted Subsidiary;
provided that, immediately after giving effect to such designation, no Default shall have occurred and be continuing and either: 
 (1) the Company could incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Test; or 
 (2) the Fixed Charge Coverage Ratio for the Company would be equal to or greater than such ratio for the Company immediately prior to such designation, in each case on a pro forma basis taking into
account such designation. 
 Any such designation by the Company shall be notified by the Company to the Trustee by promptly
filing with the Trustee a copy of the resolution of the board of directors of the Company or any committee thereof giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the foregoing
provisions. 
 “U.S. Person” means a U.S. person as defined in Rule 902(k) under the Securities Act.

 “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, Disqualified Stock or Preferred Stock, as the case may be, at any date, the quotient obtained by dividing: 

(1) the sum of the products of the number of years from the date of determination to the date of each successive scheduled
principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock or Preferred Stock multiplied by the amount of such payment; by 

(2) the sum of all such payments. 
 “Wholly-Owned Subsidiary” of any Person means a Subsidiary of such Person, 100.0% of the outstanding Equity Interests of which (other than directors’ qualifying shares) shall at the
time be owned by such Person or by one or more Wholly-Owned Subsidiaries of such Person. 

  
 39 

 SECTION 1.02. Other Definitions. 

 

			
	 Term
	  	Defined in
Section
	 “Acceptable Commitment”
	  	4.10
	 “Affiliate Transaction”
	  	4.11
	 “Asset Sale Offer”
	  	4.10
	 “Authentication Order”
	  	2.02
	 “Blockage Notice”
	  	10.03
	 “Change of Control Offer”
	  	4.14
	 “Change of Control Payment”
	  	4.14
	 “Change of Control Payment Date”
	  	4.14
	 “Covenant Defeasance”
	  	8.03
	 “Covenant Suspension Event”
	  	4.18
	 “DTC”
	  	2.03
	 “Event of Default”
	  	6.01
	 “Excess Proceeds”
	  	4.10
	 “Fixed Charge Coverage Test”
	  	4.07
	 “Guarantee Blockage Notice”
	  	12.03
	 “Guarantee Payment Blockage Period”
	  	12.03
	 “Guarantee Payment Default”
	  	12.03
	 “Guarantor Non-Payment Default”
	  	12.03
	 “incur”
	  	4.09
	 “Legal Defeasance”
	  	8.02
	 “Non-Payment Default”
	  	10.03
	 “Note Register”
	  	2.03
	 “Offer Amount”
	  	3.09
	 “Offer Period”
	  	3.09
	 “Pari Passu Indebtedness”
	  	4.10
	 “Paying Agent”
	  	2.03
	 “pay its Guarantee”
	  	12.03
	 “pay the Notes”
	  	10.03
	 “Payment Blockage Period”
	  	10.03
	 “Payment Default”
	  	10.03
	 “Purchase Date”
	  	3.09
	 “Redemption Date”
	  	3.01
	 “Refinancing Indebtedness”
	  	4.09
	 “Refunding Capital Stock”
	  	4.07
	 “Registrar”
	  	2.03
	 “Restricted Payments”
	  	4.07
	 “Reversion Date”
	  	4.18
	 “Successor Company”
	  	5.01
	 “Successor Person”
	  	5.01
	 “Suspended Covenants”
	  	4.18
	 “Suspension Date”
	  	4.18
	 “Suspension Period”
	  	4.18
	 “Treasury Capital Stock”
	  	4.07

  
 40 

 SECTION 1.03. [Reserved]. 

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

(a) a term has the meaning assigned to it; 
 (b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 
 (c) “or” is not exclusive; 
 (d) “including” means including
without limitation; 
 (e) words in the singular include the plural, and in the plural include the singular; 

(f) “will” shall be interpreted to express a command; 
 (g) provisions apply to successive events and transactions; 
 (h) references to
sections of, or rules under, the Securities Act shall be deemed to include substitute, replacement or successor sections or rules adopted by the SEC from time to time; 
 (i) unless the context otherwise requires, any reference to an “Article,” “Section” or “clause” refers to an Article, Section or clause, as the case may be, of this
Indenture; and 
 (j) the words “herein,” “hereof” and “hereunder” and other words of similar
import refer to this Indenture as a whole and not any particular Article, Section, clause or other subdivision. 

SECTION 1.05. Acts of Holders. 
 (a) 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 is delivered
to the Trustee and, where it is hereby expressly required, to the Issuers. Proof of execution of any such instrument or of a writing appointing any such agent, or the holding by any Person of a Note, shall be sufficient for any purpose of this
Indenture and (subject to Section 7.01 hereof) conclusive in favor of the Trustee and the Issuers, if made in the manner provided in this Section 1.05. 
 (b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by the certificate of any 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 

  
 41 

 
thereof. Where such execution is by or on behalf of any legal entity other than an individual, such certificate or affidavit shall also constitute proof of the authority of the Person executing
the same. 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 that the Trustee deems sufficient. 

(c) The ownership of Notes shall be proved by the Note Register. 

(d) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Note shall bind every
future Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of any action taken, suffered or omitted by the Trustee or the Issuers in reliance
thereon, whether or not notation of such action is made upon such Note. 
 (e) Without limiting the foregoing, a Holder entitled
to take any action hereunder with regard to any particular Note may do so with regard to all or any part of the principal amount of such Note or by one or more duly appointed agents, each of which may do so pursuant to such appointment with regard
to all or any part of such principal amount. Any notice given or action taken by a Holder or its agents with regard to different parts of such principal amount pursuant to this paragraph shall have the same effect as if given or taken by separate
Holders of each such different part. 
 (f) Without limiting the generality of the foregoing, a Holder, including DTC, may make,
give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or taken by Holders, and DTC may provide its proxy to
the beneficial owners of interests in any such Global Note through such depositary’s standing instructions and customary practices. 
 (g) The Issuers may fix a record date for the purpose of determining the identity of Holders entitled to (or, if applicable, for purposes of determining the Persons who are beneficial owners of interests
in any Global Note held by DTC entitled under the procedures of such depositary to) make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided
in this Indenture to be made, given or taken by Holders. If such a record date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled to make, give or take such request, demand,
authorization, direction, notice, consent, waiver or other action, whether or not such Holders remain Holders after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other action shall be valid or
effective if made, given or taken more than 90 days after such record date. 

  
 42 

 ARTICLE II 
 THE NOTES  
 SECTION 2.01. Form and Dating; Terms. 

(a) General. The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A
hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rules or usage. Each Note shall be dated the date of its authentication. The Notes shall be issued initially in minimum denominations of $2,000 and any
integral multiple of $1,000 in excess of $2,000. 
 (b) Global Notes. Notes issued in global form shall be substantially
in the form of Exhibit A (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in definitive form shall be substantially in the form of Exhibit
A hereto (but without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note shall represent such of the outstanding Notes as shall be specified in the
“Schedule of Exchanges of Interests in the Global Note” attached thereto and each shall provide that it shall represent up to the aggregate principal amount of Notes from time to time endorsed thereon and that the aggregate principal
amount of outstanding Notes represented thereby may from time to time be reduced or increased, as applicable, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate
principal amount of outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.06 hereof.

 Temporary Global Notes. Notes offered and sold in reliance on Regulation S shall be issued initially in the form of
the Regulation S Temporary Global Note, which shall be deposited on behalf of the purchasers of the Notes represented thereby with the Custodian and registered in the name of the Depositary or the nominee of the Depositary for the accounts of
designated agents holding on behalf of Euroclear or Clearstream, duly executed by the Issuers and authenticated by the Trustee as hereinafter provided. Following (i) the termination of the Restricted Period and (ii) the receipt by the
Trustee of (A) a certification or other evidence in a form reasonably acceptable to the Issuers of non-United States beneficial ownership of 100% of the aggregate principal amount of each Regulation S Temporary Global Note (except to the extent
of any beneficial owners thereof who acquired an interest therein during the Restricted Period pursuant to another exemption from registration under the Securities Act and who shall take delivery of a beneficial ownership interest in a 144A Global
Note bearing a Private Placement Legend, all as contemplated by Section 2.06(b) hereof) and (B) an Officer’s Certificate from the Issuers, the Trustee shall remove the Regulation S Temporary Global Note Legend from the Regulation S
Temporary Global Note, following which temporary beneficial interests in the Regulation S Temporary Global Note shall automatically become beneficial interests in the Regulation S Permanent Global Note pursuant to the Applicable Procedures. The
aggregate principal amount of a Regulation S Temporary Global Note and a Regulation S Permanent Global Note may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary or its nominee, as the
case may be, in connection with transfers of interest as hereinafter provided. 

  
 43 

 (c) Terms. The aggregate principal amount of Notes that may be authenticated and
delivered under this Indenture is unlimited. 
 The terms and provisions contained in the Notes shall constitute, and are hereby
expressly made, a part of this Indenture and the Issuers, the Guarantors 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. 
 The Notes shall be subject to repurchase by the Issuers pursuant to an Asset Sale Offer as provided in Section 4.10 hereof or a Change of Control Offer as provided in Section 4.14 hereof. The
Notes shall not be redeemable, other than as provided in Article III hereof. 
 Additional Notes ranking pari
passu with the Initial Notes may be created and issued from time to time by the Issuers without notice to or consent of the Holders and shall be consolidated with and form a single class with the Initial Notes and shall have the same terms as
to status, redemption or otherwise as the Initial Notes; provided that the Issuers’ ability to issue Additional Notes shall be subject to the Issuers’ compliance with Section 4.09 hereof. Any Additional Notes shall be issued
with the benefit of an indenture supplemental to this Indenture. 
 SECTION 2.02. Execution and Authentication. At
least one Officer of each of the Issuers shall execute the Notes on behalf of the applicable Issuer by manual or facsimile signature. 
 If an Officer of the Company or the Co-Issuer whose signature is on a Note no longer holds that office at the time the Trustee authenticates the Note, the Note shall nevertheless be valid. 

A Note shall not be entitled to any benefit under this Indenture or be valid or obligatory for any purpose until authenticated
substantially in the form of Exhibit A attached hereto by the manual signature of the Trustee. The signature shall be conclusive evidence that the Note has been duly authenticated and delivered under this Indenture. 

On the Issue Date, the Trustee shall, upon receipt of an Issuers’ Order (an “Authentication Order”), authenticate
and deliver the Initial Notes. In addition, at any time, from time to time, the Trustee shall upon an Authentication Order authenticate and deliver any Additional Notes issued hereunder. 

The Trustee may appoint an authenticating agent acceptable to the Issuers to authenticate Notes. 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. 

  
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 SECTION 2.03. Registrar and Paying Agent. The Issuers shall maintain (i) an
office or agency where Notes may be presented for registration of transfer or for exchange (“Registrar”) and (ii) an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar
shall keep a register of the Notes (“Note Register”) and of their transfer and exchange. The registered Holder of a Note will be treated as the owner of the Note for all purposes. The Issuers 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 agents. The Issuers initially appoint the Trustee as Paying Agent.
The Issuers may change any Paying Agent or Registrar without prior notice to any Holder. The Issuers shall notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Issuers fail to appoint or maintain
another entity as Registrar or Paying Agent, the Trustee shall, to the extent that it is capable, act as such. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 

The Issuers initially appoint The Depository Trust Company (“DTC”) to act as Depositary with respect to the Global Notes
representing the Notes. 
 The Issuers initially appoint the Trustee to act as the Registrar for the Notes. 

SECTION 2.04. Paying Agent to Hold Money in Trust. The Issuers 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 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 will notify the Trustee of any
default by the Issuers 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 Issuers 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 Issuers, the Trustee shall serve as Paying Agent for the Notes. 

SECTION 2.05. 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. If the Trustee is not the Registrar, the Issuers shall furnish to the Trustee at least five 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 as the Trustee may reasonably require of the names and addresses of the Holders of Notes. 
 SECTION 2.06. Transfer and Exchange. 
 (a) Transfer and Exchange of
Global Notes. Except as otherwise set forth in this Section 2.06, a Global Note may be transferred, in whole and not in part, only to another nominee of the Depositary or to a successor thereto or a nominee of such successor thereto. A
beneficial interest in a Global Note may not be exchanged for a Definitive Note unless (A) the Depositary (x) notifies the Issuers that it is unwilling or unable to continue as Depositary for such Global Note or (y) has ceased to be a
clearing agency registered under the Exchange Act, 

  
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and, in either case, a successor Depositary is not appointed by the Issuers within 120 days, (B) the Issuers, at their option, notify the Trustee in writing that they elect to cause the
issuance of Definitive Notes (although Regulation S Temporary Global Notes at the Issuers’ election pursuant to this clause may not be exchanged for Definitive Notes prior to (1) the expiration of the Restricted Period and (2) the
receipt of any certificate required pursuant to Rule 903(b)(3)(ii)(B)) or (C) upon the request of a Holder if there shall have occurred and be continuing a Default or Event of Default with respect to the Notes. Upon the occurrence of any of the
preceding events in (A) above, Definitive Notes delivered in exchange for any Global Note or beneficial interests therein will be registered in the names, and issued in any approved denominations, requested by or on behalf of the Depositary (in
accordance with its customary procedures). Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10 hereof. Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any
portion thereof, pursuant to this Section 2.06 or Section 2.07 or 2.10 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note, except for Definitive Notes issued subsequent to any of the preceding events
in (A), (B) or (C) above and pursuant to Section 2.06(c) hereof. A Global Note may not be exchanged for another Note other than as provided in this Section 2.06(a); provided, however, beneficial interests in a
Global Note may be transferred and exchanged as provided in Section 2.06(b) or (c) hereof. 
 (b) Transfer and
Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the Global Notes shall be effected through the Depositary in accordance with the provisions of this Indenture and the Applicable
Procedures. Beneficial interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Notes
also shall require compliance with either subparagraph (i) or (ii) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 

(i) Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note
may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions set forth in the Private Placement Legend; provided that prior to the
expiration of the Restricted Period, transfers of beneficial interests in the Regulation S Temporary Global Note may not be made to a U.S. Person or for the account or benefit of a U.S. Person other than pursuant to Rule 144A. Beneficial interests
in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions shall be required to be delivered to the Registrar to
effect the transfers described in this Section 2.06(b)(i). 
 (ii) All Other Transfers and Exchanges of
Beneficial Interests in Global Notes. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.06(b)(i) hereof, the transferor of such beneficial interest must deliver to the Registrar either
(A) (1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global
Note in an amount equal to the beneficial interest to be transferred or exchanged and (2)

  
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instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase or (B) (1) a written order
from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or
exchanged and (2) instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (1) above;
provided that in no event shall Definitive Notes be issued upon the transfer or exchange of beneficial interests in a Regulation S Temporary Global Note prior to (A) the expiration of the Restricted Period and (B) the receipt by the
Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B). Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable
under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 2.06(h) hereof. 
 (iii) Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form
of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of Section 2.06(b)(ii) hereof and the Registrar receives the following: 

(A) if the transferee will take delivery in the form of a beneficial interest in a 144A Global Note, then the transferor
must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; or 
 (B) if the transferee will take delivery in the form of a beneficial interest in a Regulation S Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto,
including the certifications in item (2) thereof. 
 (iv) Transfer and Exchange of Beneficial Interests
in a Restricted Global Note for Beneficial Interests in an Unrestricted Global Note. A beneficial interest in any Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or
transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.06(b)(ii) hereof and the Registrar receives the
following: 
 (A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such
beneficial interest for a beneficial interest in an Unrestricted Global Note, a certificate from such Holder substantially in the form of Exhibit C hereto, including the certifications in item (1)(a) thereof; or 

(B) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

  
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 and, in each case, if the Registrar so requests or if the Applicable Procedures so require,
an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are
no longer required in order to maintain compliance with the Securities Act. 
 If any such transfer is effected pursuant to this
subparagraph (iv) at a time when an Unrestricted Global Note has not yet been issued, the Issuers shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more
Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred pursuant to this subparagraph (iv). 
 Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Note.

 (c) Transfer or Exchange of Beneficial Interests for Definitive Notes. 

(i) Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes. If any holder of a beneficial
interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted Definitive Note, then,
upon the occurrence of any of the events in subsection (A) of Section 2.06(a) hereof and receipt by the Registrar of the following documentation: 
 (A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate from such holder substantially in
the form of Exhibit C hereto, including the certifications in item (2)(a) thereof; 
 (B) if such
beneficial interest is being transferred to a QIB in accordance with Rule 144A, a certificate substantially in the form of Exhibit B hereto, including the certifications in item (1) thereof; 

(C) if such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with
Rule 903 or Rule 904, a certificate substantially in the form of Exhibit B hereto, including the certifications in item (2) thereof; 
 (D) if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the Securities Act in accordance with Rule 144, a certificate substantially in the form
of Exhibit B hereto, including the certifications in item (3)(a) thereof; 

  
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 (E) if such beneficial interest is being transferred to the Company or any
of its Subsidiaries, a certificate substantially in the form of Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (F) if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act, a certificate substantially in the form of Exhibit B hereto, including
the certifications in item (3)(c) thereof, 
 the Trustee shall cause the aggregate principal amount of the applicable Global Note to be
reduced accordingly pursuant to Section 2.06(h) hereof, and the Issuers shall execute and the Trustee shall authenticate and mail to the Person designated in the instructions a Definitive Note in the applicable principal amount. Any Definitive
Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial
interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall mail such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note
issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c)(i) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein. 

(ii) Beneficial Interests in Regulation S Temporary Global Note to Definitive Notes. Notwithstanding Sections
2.06(c)(i)(A) and (C) hereof, a beneficial interest in the Regulation S Temporary Global Note may not be exchanged for a Definitive Note or transferred to a Person who takes delivery thereof in the form of a Definitive Note prior to
(A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B), except in the case of a transfer pursuant to an exemption from the registration requirements
of the Securities Act other than Rule 903 or Rule 904. 
 (iii) Beneficial Interests in Restricted Global
Notes to Unrestricted Definitive Notes. A holder of a beneficial interest in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes
delivery thereof in the form of an Unrestricted Definitive Note only upon the occurrence of any of the events in subsection (A) of Section 2.06(a) hereof and if the Registrar receives the following: 

(A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest
for an Unrestricted Definitive Note, a certificate from such holder substantially in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 

(B) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder substantially in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

  
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 and, in each case, if the Registrar so requests or if the Applicable Procedures so require,
an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are
no longer required in order to maintain compliance with the Securities Act. 
 (iv) Beneficial Interests in
Unrestricted Global Notes to Unrestricted Definitive Notes. If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a
Person who takes delivery thereof in the form of a Definitive Note, then, upon the occurrence of any of the events in subsection (A) of Section 2.06(a) hereof and satisfaction of the conditions set forth in Section 2.06(b)(ii) hereof,
the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(h) hereof, and the Issuers shall execute and the Trustee shall authenticate and mail to the Person
designated in the instructions a Definitive Note in the applicable principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(iv) shall be registered in such name or names and in such
authorized denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions from or through the Depositary and the Participant or Indirect Participant. The Trustee shall mail such Definitive
Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(iv) shall not bear the Private Placement Legend. 

(d) Transfer and Exchange of Definitive Notes for Beneficial Interests. 

(i) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted
Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global
Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the Holder of such Restricted
Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note, a certificate from such Holder substantially in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof;

 (B) if such Restricted Definitive Note is being transferred to a QIB in accordance with Rule 144A, a
certificate substantially in the form of Exhibit B hereto, including the certifications in item (1) thereof; 
 (C) if such Restricted Definitive Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate substantially in the form of Exhibit
B hereto, including the certifications in item (2) thereof; 

  
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 (D) if such Restricted Definitive Note is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance with Rule 144, a certificate substantially in the form of Exhibit B hereto, including the certifications in item (3)(a) thereof; 

(E) if such Restricted Definitive Note is being transferred to the Company or any of its Subsidiaries, a certificate
substantially in the form of Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (F) if such Restricted Definitive Note is being transferred pursuant to an effective registration statement under the Securities Act, a certificate substantially in the form of Exhibit B hereto,
including the certifications in item (3)(c) thereof, 
 the Trustee shall cancel the Restricted Definitive Note and increase or cause to be
increased the aggregate principal amount of, in the case of clause (A) above, the applicable Restricted Global Note, in the case of clause (B) above, the applicable 144A Global Note, and in the case of clause (C) above, the applicable
Regulation S Global Note. 
 (ii) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global
Notes. A Holder of a Restricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial
interest in an Unrestricted Global Note only if the Registrar receives the following: 
 (A) if the Holder of
such Definitive Notes proposes to exchange such Notes for a beneficial interest in the Unrestricted Global Note, a certificate from such Holder substantially in the form of Exhibit C hereto, including the certifications in item
(1)(c) thereof; or 
 (B) if the Holder of such Definitive Notes proposes to transfer such Notes to a Person
who shall take delivery thereof in the form of a beneficial interest in the Unrestricted Global Note, a certificate from such Holder substantially in the form of Exhibit B hereto, including the certifications in item (4) thereof;

 and, in each case, if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form
reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order
to maintain compliance with the Securities Act. 
 Upon satisfaction of the conditions of this Section 2.06(d)(ii), the
Trustee shall cancel the Restricted Definitive Note and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. 

  
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 (iii) Unrestricted Definitive Notes to Beneficial Interests in
Unrestricted Global Notes. A Holder of an Unrestricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a
beneficial interest in an Unrestricted Global Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate
principal amount of one of the Unrestricted Global Notes. 
 If any such exchange or transfer from a Definitive Note to a beneficial interest is
effected pursuant to subparagraph (ii) or (iii) above at a time when an Unrestricted Global Note has not yet been issued, the Issuers shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the
Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred. 
 (e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.06(e),
the Registrar shall register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a
written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder shall provide any additional certifications, documents and
information, as applicable, required pursuant to the following provisions of this Section 2.06(e): 
 (i)
Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted Definitive Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar
receives the following: 
 (A) if the transfer will be made pursuant to a QIB in accordance with Rule 144A, then
the transferor must deliver a certificate substantially in the form of Exhibit B hereto, including the certifications in item (1) thereof; 
 (B) if the transfer will be made pursuant to Rule 903 or Rule 904 then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item
(2) thereof; or 
 (C) if the transfer will be made pursuant to any other exemption from the registration
requirements of the Securities Act, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications required by item (3) thereof, if applicable. 

  
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 (ii) Restricted Definitive Notes to Unrestricted Definitive Notes.
Any Restricted Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if the Registrar receives the
following: 
 (A) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an
Unrestricted Definitive Note, a certificate from such Holder substantially in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 

(B) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery
thereof in the form of an Unrestricted Definitive Note, a certificate from such Holder substantially in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each case, if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that
such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

(iii) Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder of Unrestricted Definitive Notes may
transfer such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the
instructions from the Holder thereof. 
 (f) [Reserved] 

(g) Legends. The following legends shall appear on the face of all Global Notes and Definitive Notes issued under this Indenture
unless specifically stated otherwise in the applicable provisions of this Indenture: 
 (i) Private Placement
Legend. 
 (A) Except as permitted by subparagraph (B) below, each Global Note and each Definitive Note
(and all Notes issued in exchange therefor or substitution thereof) shall bear the legend in substantially the following form: 

“THE NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (THE “SECURITIES ACT”)
AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) (1) TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT PURCHASING FOR ITS OWN
ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (2) IN AN OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904 OF REGULATIONS UNDER THE SECURITIES ACT, (3) PURSUANT
TO AN EXEMPTION FROM REGISTRTION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) (4) TO AN INSTITUTIONAL ACCREDITED INVESTOR IN A TRANSACTION 

  
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EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR (5) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (B) IN ACCORDANCE WITH ALL APPLICABLE
SECURITIES LAWS OF THE STATES OF THE UNITED STATES AND OTHER JURISDICTIONS.” 
 (B) Notwithstanding the
foregoing, any Global Note or Definitive Note issued pursuant to subparagraph (b)(iv), (c)(iii), (c)(iv), (d)(ii), (d)(iii), (e)(ii) or (e)(iii) of this Section 2.06 (and all Notes issued in exchange therefor or substitution thereof) shall not
bear the Private Placement Legend. 
 (ii) Global Note Legend. Each Global Note representing Notes shall
bear a legend in substantially the following form (with appropriate changes in the last sentence if DTC is not the Depositary): 

“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 2.06(h) OF THE INDENTURE, (II) THIS GLOBAL
NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE
TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUERS. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE 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. UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE 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.” 

  
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 (iii) Regulation S Temporary Global Note Legend. The Regulation S
Temporary Global Note shall bear a legend in substantially the following form: 
 “THIS NOTE (OR ITS PREDECESSOR) WAS
ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY
U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT.”

 (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global
Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or cancelled in whole and not in part, each such Global Note shall be returned to or retained and cancelled by the Trustee in accordance with
Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or
for Definitive Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such
reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and an
endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 
 (i) General Provisions Relating to Transfers and Exchanges. 

(i) To permit registrations of transfers and exchanges, the Issuers shall execute and the Trustee shall authenticate
Global Notes and Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.02 hereof or at the Registrar’s request. 
 (ii) No service charge shall be made to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Issuers may require
payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.07,
2.10, 3.06, 3.09, 4.10, 4.14 and 9.05 hereof). 
 (iii) The Issuers shall not be required (A) to issue, to
register the transfer of or to exchange any Notes during a period beginning at the opening of business 15 days before the day of any selection of Notes for redemption under Section 3.02 hereof and ending at the close of business on the day of
selection or (B) to register the transfer of or to exchange a Note between a Record Date with respect to such Note and the next succeeding Interest Payment Date with respect to such Note. 

  
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 (iv) Neither the Registrar nor the Issuers shall be required to register the
transfer of or exchange any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. 
 (v) All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes shall be the valid obligations of the Issuers, evidencing the same debt,
and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange. 
 (vi) Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Issuers may deem and treat the Person in whose name any Note is registered as the absolute
owner of such Note for the purpose of receiving payment of principal of (and premium, if any) and interest on such Notes and for all other purposes, and none of the Trustee, any Agent or the Issuers shall be affected by notice to the contrary.

 (vii) Upon surrender for registration of transfer of any Note at the office or agency of the Issuers
designated pursuant to Section 4.02 hereof, the Issuers shall execute, and the Trustee shall authenticate and mail, in the name of the designated transferee or transferees, one or more replacement Notes of any authorized denomination or
denominations of a like aggregate principal amount. 
 (viii) At the option of the Holder, Notes may be exchanged
for other Notes of any authorized denomination or denominations of a like aggregate principal amount upon surrender of the Notes to be exchanged at such office or agency. Whenever any Global Notes or Definitive Notes are so surrendered for exchange,
the Issuers shall execute, and the Trustee shall authenticate and mail, the replacement Global Notes and Definitive Notes which the Holder making the exchange is entitled to in accordance with the provisions of Section 2.02 hereof. 

(ix) All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this
Section 2.06 to effect a registration of transfer or exchange may be submitted by facsimile. 
 SECTION 2.07.
Replacement Notes. If any mutilated Note is surrendered to the Trustee, the Registrar or the Issuers and the Trustee receives evidence to its satisfaction of the ownership and destruction, loss or theft of any Note, the Issuers 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 Issuers, an indemnity bond must be supplied by the Holder that is
sufficient in the judgment of the Trustee and the Issuers to protect the Issuers, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced. The Issuers and the Trustee may charge the Holder
for their expenses in replacing a Note. 

  
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 Every replacement Note is a contractual obligation of the Issuers and shall be entitled to
all of the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. 

SECTION 2.08. Outstanding Notes. 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 2.08 as not outstanding.
Except as set forth in Section 2.09 hereof, a Note does not cease to be outstanding because the Company, the Co-Issuer or a Guarantor or an Affiliate of the Company, the Co-Issuer or a Guarantor holds the Note. 

If a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding unless the Trustee receives proof satisfactory to
it that the replaced Note is held by a protected purchaser (as defined in Section 8-303 of the Uniform Commercial Code). 

If the principal amount of any Note is considered paid under Section 4.01 hereof, it ceases to be outstanding and interest on it
ceases to accrue. 
 If the Paying Agent (other than the Company, the Co-Issuer or a Guarantor or an Affiliate of the Company,
the Co-Issuer or a Guarantor) holds, on a Redemption Date or maturity date, money sufficient to pay Notes (or portions thereof) payable on that date and the Paying Agent is not prohibited from paying such money to the Holders on that date pursuant
to the terms of this Indenture, then on and after that date such Notes (or portions thereof) shall be deemed to be no longer outstanding and shall cease to accrue interest. 
 SECTION 2.09. Treasury Notes. In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Company, the
Co-Issuer or a Guarantor or by any Affiliate of the Company, the Co-Issuer or a Guarantor, 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, waiver or consent, only Notes that a Responsible Officer of the Trustee knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the
satisfaction of the Trustee the pledgee’s right to deliver any such direction, waiver or consent with respect to the Notes and that the pledgee is not the Company, the Co-Issuer or a Guarantor or any Affiliate of the Company, the Co-Issuer or a
Guarantor. 
 SECTION 2.10. Temporary Notes. Until certificates representing Notes are ready for delivery, the
Issuers 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 Issuers consider appropriate
for temporary Notes and as shall be reasonably acceptable to the Trustee. Without unreasonable delay, the Issuers shall prepare and the Trustee shall authenticate definitive Notes in exchange for temporary Notes. 

  
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 Holders and beneficial holders, as the case may be, of temporary Notes shall be entitled to
all of the benefits accorded to Holders, or beneficial holders, respectively, of Notes under this Indenture. 

SECTION 2.11. Cancellation. The Issuers 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 and no one else shall cancel all Notes
surrendered for registration of transfer, exchange, payment, replacement or cancellation and shall destroy cancelled Notes (subject to the record retention requirement of the Exchange Act). Certification of the cancellation of all surrendered Notes
shall be delivered to the Issuers. The Issuers may not issue new Notes to replace Notes that they have paid or that have been delivered to the Trustee for cancellation. 
 SECTION 2.12. Defaulted Interest. If the Issuers default in a payment of interest on the Notes, it shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest
payable on the defaulted interest, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuers may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Issuers shall
notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers 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 for the benefit of the Persons
entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to
the related payment date for such defaulted interest. The Trustee shall promptly notify the Issuers of any such special record date. At least 15 days before any such special record date, the Issuers (or, upon the written request of the Issuers, the
Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee, a notice at his or her address as it appears in the Note Register that states the
special record date, the related payment date and the amount of such interest to be paid. 
 Subject to the foregoing provisions
of this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue,
which were carried by such other Note. 
 SECTION 2.13. CUSIP/ISIN Numbers. The Issuers in issuing the Notes may use
CUSIP and ISIN numbers (in each case, if then generally in use) and, if so, the Trustee shall use CUSIP and ISIN 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 Notes or as contained in any notice of 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 Issuers will as promptly as practicable notify the Trustee in writing of any change in the CUSIP and ISIN numbers. 

  
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 SECTION 2.14. Calculation of Principal Amount of Securities. With respect to any
matter requiring consent, waiver, approval or other action of the Holders of a specified percentage of the principal amount of all the Notes, such percentage shall be calculated, on the relevant date of determination, by dividing (a) the
principal amount, as of such date of determination, of Notes, the Holders of which have so consented by (b) the aggregate principal amount, as of such date of determination, of the Notes then outstanding, in each case, as determined in
accordance with Section 2.08 and Section 2.09 of this Indenture. Any such calculation made pursuant to this Section 2.14 shall be made by the Issuers and delivered to the Trustee pursuant to an Officer’s Certificate. 

ARTICLE III  
 REDEMPTION 
 SECTION 3.01. Notices to Trustee. If the Issuers
elect to redeem Notes pursuant to Section 3.07 hereof, they shall furnish to the Trustee, at least two Business Days before notice of redemption is required to be delivered to Holders pursuant to Section 3.03 hereof but not more than 60
days before the date of redemption (the “Redemption Date”), an Officer’s Certificate of the Issuers setting forth (i) the paragraph or subparagraph of such Note and/or Section of this Indenture pursuant to which the
redemption shall occur, (ii) the Redemption Date, (iii) the principal amount of the Notes to be redeemed and (iv) the redemption price. 
 SECTION 3.02. 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 (a) if the Notes are
listed on an exchange, in compliance with the requirements of such exchange or (b) on a pro rata basis to the extent practicable, or, if the pro rata basis is not practicable for any reason, by lot or by such other method
the Trustee shall deem fair and appropriate. In the event of partial redemption by lot, 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 Issuers 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. No Notes of $2,000 or less can be redeemed in part, except that if all of the Notes of a Holder
are to be redeemed, the entire outstanding amount of Notes held by such Holder 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 3.03. Notice of Redemption. Subject to Section 3.09 hereof, the Issuers shall
deliver electronically, mail or cause to be mailed by first-class mail notices of redemption at least 30 days but not more than 60 days before the Redemption Date to each Holder of Notes to be redeemed at such Holder’s registered address or
otherwise in accordance 

  
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with Applicable Procedures, except that redemption notices may be delivered more than 60 days prior to a Redemption Date if the notice is issued in connection with Article VIII or XIII hereof.
Except pursuant to a notice of redemption delivered in accordance with a redemption pursuant to Section 3.07(b) hereof, notices of redemption may not be conditional. 
 The notice shall identify the Notes to be redeemed and shall state: 
 (a) the
Redemption Date; 
 (b) the redemption price; 
 (c) if any Definitive Note is to be redeemed in part only, the portion of the principal amount of that Note that is 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 of the original Note representing the same indebtedness to the extent not redeemed will be issued in the name of the Holder of the Notes upon cancellation of the original Note;

 (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 Issuers default in making such redemption payment or the Paying Agent is prohibited from making such payment pursuant to the terms of this Indenture, interest on Notes called for
redemption ceases to accrue on and after the Redemption Date; 
 (g) the paragraph or subparagraph of the Notes and/or Section
of this Indenture pursuant to which the Notes called for redemption are being redeemed; 
 (h) the CUSIP and ISIN number, if
any, printed on the Notes being redeemed and that no representation is made as to the correctness or accuracy of any such CUSIP and ISIN number that is listed in such notice or printed on the Notes; and 

(i) if in connection with a redemption pursuant to Section 3.07(b) hereof, any condition to such redemption. 

At the Issuers’ request, the Trustee shall give the notice of redemption in the Issuers’ name and at their expense;
provided that the Issuers shall have delivered to the Trustee, at least two Business Days before notice of redemption is required to be delivered to Holders pursuant to this Section 3.03 (unless a shorter notice shall be agreed to by the
Trustee), an Officer’s Certificate of the Issuers requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

If any Notes are listed on an exchange, and the rules of such exchange so require, the Issuers will notify the exchange of any such
redemption and, if applicable, of the principal amount of any Notes outstanding following any partial redemption of Notes. 

  
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 SECTION 3.04. Effect of Notice of Redemption. Once notice of redemption is
delivered in accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and payable on the Redemption Date at the redemption price (except as provided for in Section 3.07(b) hereof). The notice, if delivered in
a manner herein provided, shall be conclusively presumed to have been given, whether or not the Holder receives such notice. In any case, failure to deliver such notice or any defect in the notice to the Holder of any Note designated for redemption
in whole or in part shall not affect the validity of the proceedings for the redemption of any other Note. Subject to Section 3.05 hereof, on and after the Redemption Date, interest ceases to accrue on Notes or portions of Notes called for
redemption. 
 SECTION 3.05. Deposit of Redemption Price. 

(a) Prior to 11:00 a.m. (New York City time) on the Redemption Date, the Issuers shall deposit with the Trustee or with the Paying Agent
money sufficient to pay the redemption price of and accrued and unpaid interest on all Notes to be redeemed on that Redemption Date. The Trustee or the Paying Agent shall promptly return to the Issuers any money deposited with the Trustee or the
Paying Agent by the Issuers in excess of the amounts necessary to pay the redemption price of, and accrued and unpaid interest on, all Notes to be redeemed. 
 (b) If the Issuers comply with the provisions of the preceding paragraph (a), on and after the Redemption Date, interest shall cease to accrue on the Notes or the portions of Notes called for redemption.
If a Note is redeemed on or after a Record Date but on or prior to the related Interest Payment Date, then any accrued and unpaid interest to the Redemption Date shall be paid to the Person in whose name such Note was registered at the close of
business on such Record Date. If any Note called for redemption shall not be so paid upon surrender for redemption because of the failure of the Issuers to comply with 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 accrued to the Redemption Date not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01 hereof. 

SECTION 3.06. Notes Redeemed in Part. Upon surrender of a Definitive Note that is redeemed in part, the Issuers shall issue
and the Trustee shall authenticate for the Holder at the expense of the Issuers a new Note equal in principal amount to the unredeemed portion of the Note surrendered representing the same indebtedness to the extent not redeemed; provided
that each new Note will be in a principal amount of $2,000 and any integral multiple of $1,000 in excess of $2,000. It is understood that, notwithstanding anything in this Indenture to the contrary, only an Authentication Order and not an Opinion of
Counsel or Officer’s Certificate of the Issuers is required for the Trustee to authenticate such new Note. 

SECTION 3.07. Optional Redemption. 
 (a) At any time prior to July 15, 2012, the Issuers may redeem all or a part of the Notes, upon notice in accordance with Section 3.03 hereof, at a redemption price equal to 100.0% of the
principal amount of such Notes redeemed plus the Applicable Premium as of, plus accrued and unpaid interest, if any, to, the Redemption Date, subject to the right of Holders of record on the relevant record date to receive interest due on the
relevant interest payment date. 

  
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 (b) Until July 15, 2010, the Issuers may, at their option, redeem up to 35.0% of the
aggregate principal amount of Notes issued by them at a redemption price equal to 100.0% of the aggregate principal amount thereof, plus a premium equal to the interest rate per annum on the Notes, plus accrued and unpaid interest, if any, to, the
Redemption Date, subject to the right of Holders of Notes of record on the relevant record date to receive interest due on the relevant interest payment date, with the net cash proceeds received by the Company from one or more Equity Offerings;
provided that (i) at least 50.0% of the aggregate principal amount of the Initial Notes and any Additional Notes issued under this Indenture after the Issue Date remains outstanding immediately after the occurrence of each such
redemption; and (ii) each such redemption occurs within 180 days of the date of closing of each such Equity Offering. Notice of any redemption upon any Equity Offering may be given prior to the redemption thereof, and any such redemption or
notice may, at the Issuers’ discretion, be subject to one or more conditions precedent, including, but not limited to, completion of the related Equity Offering. 
 (c) On and after July 15, 2012, the Issuers may redeem the Notes, in whole or in part, upon notice in accordance with Section 3.03 hereof at the redemption prices (expressed as percentages of
principal amount of the Notes to be redeemed) set forth below, plus accrued and unpaid interest, if any, to the Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest
payment date), if redeemed during the twelve-month period beginning on July 15 of each of the years indicated below: 
  

					
	 Year
	  	Percentage	 
	 2012
	  	 	105.000	% 
	 2013
	  	 	103.333	% 
	 2014
	  	 	101.667	% 
	 2015 and thereafter
	  	 	100.000	% 

 (d) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of
Sections 3.01 through 3.06 hereof. 
 SECTION 3.08. Mandatory Redemption. The Issuers shall not be required to make
any mandatory redemption or sinking fund payments with respect to the Notes. 
 SECTION 3.09. Offers to Repurchase by
Application of Excess Proceeds. 
 (a) In the event that, pursuant to Section 4.10 hereof, the Issuers shall be
required to commence an Asset Sale Offer, they shall follow the procedures specified below. 
 (b) The Asset Sale Offer 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 Issuers shall apply all Excess Proceeds (the “Offer Amount”) to the purchase of Notes and, if required, Pari Passu Indebtedness (on a pro rata
basis, if applicable), or, if less than the Offer Amount has been tendered, all Notes and Pari Passu Indebtedness 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. 

  
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 (c) If the Purchase Date is on or after a Record Date and on or before the related Interest
Payment Date, any accrued and unpaid interest, up to but excluding the Purchase Date, shall be paid to the Person in whose name a Note is registered at the close of business on such Record Date, and no additional interest shall be payable to Holders
who tender Notes pursuant to the Asset Sale Offer. 
 (d) Upon the commencement of an Asset Sale Offer, the Issuers shall
deliver electronically or send, by first-class mail, postage prepaid, a notice to each of the Holders, 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 and holders of such Pari Passu Indebtedness. The notice, which shall govern the terms of the Asset Sale Offer, shall state: 

(i) that the Asset Sale Offer is being made pursuant to this Section 3.09 and Section 4.10 hereof and the length
of time the Asset Sale Offer shall remain open; 
 (ii) the Offer Amount, the purchase price and the Purchase
Date; 
 (iii) that any Note not tendered or accepted for payment shall continue to accrue interest; 

(iv) that, unless the Issuers default in making such payment, any Note accepted for payment pursuant to the Asset Sale
Offer shall cease to accrue interest after the Purchase Date; 
 (v) that any Holder electing to have less than
all of the aggregate principal amount of its Notes purchased pursuant to an Asset Sale Offer may elect to have Notes purchased in an amount not less than $2,000; 

(vi) 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” attached to the Note completed, or transfer by book-entry transfer, to the Issuers, the Depositary, if appointed by the Issuers, or a Paying Agent at the address specified
in the notice at least two Business Days before the Purchase Date; 
 (vii) that Holders shall be entitled to
withdraw their election if the Issuers, the Depositary or the Paying Agent, as the case may be, receive, not later than the expiration of the Offer Period, a 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; 
 (viii) that, if the aggregate principal amount of Notes and Pari Passu Indebtedness surrendered by the holders thereof exceeds the Offer Amount, the Trustee shall select the Notes and the Issuers shall
select such Pari Passu Indebtedness to be purchased on a pro rata basis based on the accreted value or principal amount of the Notes or such Pari Passu Indebtedness tendered (with such adjustments as may be deemed appropriate by the
Trustee so that only Notes in an amount not less than $2,000 are purchased); and 

  
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 (ix) that Holders whose certificated 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) representing the same indebtedness to the extent not repurchased. 

(e) On or before the Purchase Date, the Issuers shall, to the extent lawful, (1) accept for payment, on a pro rata basis as
described in clause (d)(viii) of this Section 3.09, the Offer Amount of Notes or portions thereof validly tendered pursuant to the Asset Sale Offer, or if less than the Offer Amount has been tendered, all Notes tendered and (2) deliver or
cause to be delivered to the Trustee the Notes properly accepted, together with an Officer’s Certificate of the Issuers stating the aggregate principal amount of Notes or portions thereof so tendered. 

(f) The Issuers, the Depositary or the Paying Agent, as the case may be, shall promptly deliver to each tendering Holder an amount equal
to the purchase price of the Notes properly tendered by such Holder and accepted by the Issuers for purchase, and the Issuers shall promptly issue a new Note, and the Trustee, upon receipt of an Authentication Order, shall authenticate and deliver
(or cause to be transferred by book-entry) such new Note to such Holder (it being understood that, notwithstanding anything in this Indenture to the contrary, no Opinion of Counsel or Officer’s Certificate of the Issuers is required for the
Trustee to authenticate and mail or deliver such new Note) in a principal amount equal to any unpurchased portion of the Note surrendered representing the same indebtedness to the extent not repurchased. Any Note not so accepted shall be promptly
delivered by the Issuers to the Holder thereof. The Issuers shall publicly announce the results of the Asset Sale Offer on or as soon as practicable after the Purchase Date. 
 (g) Prior to 11:00 a.m. (New York City time) on the purchase date, the Issuers shall deposit with the Trustee or with the Paying Agent money sufficient to pay the purchase price of and accrued and unpaid
interest on all Notes to be purchased on that purchase date. The Trustee or the Paying Agent shall promptly return to the Issuers any money deposited with the Trustee or the Paying Agent by the Issuers in excess of the amounts necessary to pay the
purchase price of, and accrued and unpaid interest on, all Notes to be redeemed. 
 Other than as specifically provided in this
Section 3.09 or Section 4.10 hereof, any purchase pursuant to this Section 3.09 shall be made pursuant to the applicable provisions of Sections 3.01 through 3.06 hereof, and references therein to “redeem,”
“redemption” and similar words shall be deemed to refer to “purchase,” “repurchase” and similar words, as applicable. 

  
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 ARTICLE IV  
 COVENANTS 
 SECTION 4.01. Payment of Notes. The Issuers shall
pay or cause to be paid the principal of, premium, if any, and interest on the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest shall be considered paid on the date due if the Paying Agent, if
other than the Company, the Co-Issuer or a Guarantor, or an Affiliate of the Company, the Co-Issuer or a Guarantor, holds as of 11:00 a.m. New York City time on the due date money deposited by the Issuers 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 pursuant to the terms of this Indenture. 

The Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the
rate equal to the then applicable interest rate on the Notes to the extent lawful; the Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to
any applicable grace period) at the same rate to the extent lawful. 
 SECTION 4.02. Maintenance of Office or
Agency. The Issuers shall maintain the offices or agencies (which may be an office of the Trustee or an affiliate of the Trustee, Registrar or co-registrar) required under Section 2.03 hereof where Notes may be surrendered for registration
of transfer or for exchange and where notices and demands to or upon the Issuers in respect of the Notes and this Indenture may be served. The Issuers 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 Issuers 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 Issuers 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; provided that no such designation or rescission shall in any manner relieve the Issuers of their
obligation to maintain such offices or agencies as required by Section 2.03 hereof for such purposes. The Issuers 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. 
 The Issuers hereby designate the Corporate Trust Office of the Trustee as one such office or
agency of the Issuers in accordance with Section 2.03 hereof. 
 SECTION 4.03. Reports and Other Information.

 (a) For so long as any Notes are outstanding, unless the Company is subject to the reporting requirements of Section 13
or 15(d) of the Exchange Act or otherwise complies with such reporting requirements, the Company will furnish without cost to each Holder of Notes and file with the Trustee: 

(1) within 90 days after the end of each fiscal year of the Company: 

(A) audited year-end consolidated financial statements of the Company and its Subsidiaries (including balance sheets,
statements of operations and statements of cash flows which would be required from an SEC registrant in an Annual Report on Form 10-K prepared in accordance with GAAP; 

  
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 (B) the information described in Item 101 (“Description of
Business”), Item 102 (“Description of Property”), Item 103 (“Legal Proceedings”), Item 303 (“Management’s Discussion and Analysis of Financial Condition and Results of Operations”) and
Item 404 (“Transactions with related persons, promoters and certain persons”), in each case, of Regulation S-K under the Securities Act with respect to such period, to the extent such information would otherwise be required to be
filed in an Annual Report on Form 10-K; 
 (C) a presentation of EBITDA of the Company consistent with the
presentation of Adjusted EBITDA in the Offering Circular and derived from such financial statements; and 
 (D)
all pro forma and historical information in respect of any significant transaction (as determined in accordance with Rule 3-05 of Regulation S-X under the Securities Act) consummated more than 75 days prior to the date such information is furnished
for the time periods for which such financial information would be required (if the Company were subject to the filing requirements of the Exchange Act) in a filing on Form 8-K with the SEC at such time; 

(2) within (x) 75 days after the end of the fiscal quarter ended September 30, 2007, (y) 60 days after the
end of the fiscal quarter ended March 31, 2008 and (z) 45 days after the end of the fiscal quarters ended June 30, 2008 and September 30, 2008 and each of the first three fiscal quarters of each fiscal year of the Company
thereafter: 
 (A) unaudited quarterly consolidated financial statements of the Company and its Subsidiaries
(including balance sheets, statements of operations and statements of cash flows which would be required from a SEC registrant in a Quarterly Report on Form 10-Q and a SAS 100 review by the Company’s independent accountants) prepared in
accordance with GAAP, subject to normal year-end adjustments; 
 (B) the information described in Item 103
(“Legal Proceedings”) and Item 303 (“Management’s Discussion and Analysis of Financial Condition and Results of Operations”), in each case, of Regulation S-K under the Securities Act with respect to such period to the
extent such information would otherwise be required to be filed in a Quarterly Report on Form 10-Q; 
 (C) a
presentation of EBITDA of the Company consistent with the presentation of Adjusted EBITDA in the Offering Circular and derived from such financial statements; and 

(D) all pro forma and historical financial information in respect of any significant transaction (as
determined in accordance with Rule 3-05 of Regulation S-X under the Securities Act) consummated more than 75 days prior to the date such information is furnished to the extent not previously provided and for the time periods such financial
information would be required (if the Company were subject to the filing requirements of the Exchange Act) in a filing on Form 8-K with the SEC at such time; and 

  
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 (3) within five Business Days following the occurrence of any of the
following events, a description in reasonable detail of such event: (A) any change in the executive officers or directors of the Company, (B) any incurrence of any material on-balance sheet or material off-balance sheet long-term debt
obligation or capital lease obligation (each as defined in Item 303 of Regulation S-K under the Securities Act) of or relating to the Company or any of its Restricted Subsidiaries, (C) the acceleration of any Indebtedness of the Company or
any of its Restricted Subsidiaries, (D) any issuance or sale by the Company of Equity Interests of the Company (excluding any issuance or sale pursuant to any stock option plan in the ordinary course of business), (E) the entry into of any
agreement by the Company or any of its Subsidiaries relating to a transaction that has resulted or may result in a Change of Control, (F) any resignation or termination of the independent accountants of the Company or any engagement of any new
independent accountants of the Company, (G) any determination by the Company or the receipt of advice or notice by the Company from its independent accountants, in either case, relating to non-reliance on previously issued financial statements,
a related audit opinion or a completed interim review, (H) the completion by the Company or any of its Restricted Subsidiaries of the acquisition or disposition of a significant amount of assets, otherwise than in the ordinary course of
business, in each case to the extent such information would be required from an SEC registrant in a Form 8-K, (I) bankruptcy of the Company, (J) amendments to the Certificate of Incorporation or the bylaws of the Company and
(K) change in fiscal year of the Company; 
 provided, however, that (w) such reports shall not be required to contain
separate financial statements for Guarantors or Subsidiaries the shares of which are pledged to secure the notes or any Guarantee that would be required under Section 3-10 or Section 3-16 of Regulation S-X, respectively, promulgated by the
SEC other than condensed consolidating footnote disclosure containing information with respect to Guarantors and non-Guarantor Subsidiaries, in each case on an aggregate basis, (x) such reports shall not be required to comply with Regulation G
under the Exchange Act or Item 10(e) of Regulation S-K promulgated by the SEC with respect to any non-GAAP financial measures contained therein, (y) such reports shall not be required to contain any assessment by management of the
Company’s disclosure controls and procedures or internal control over financial reporting or any audit or review of, or attestation relating to, such assessment and (z) such reports shall not be required to contain any certification
required by any such form or the Sarbanes-Oxley Act of 2002. 
 (b) The Company shall either (1) maintain a website (which
may be non-public) to which Holders, prospective investors that certify that they are qualified institutional buyers, securities analysts and market makers are given access and to which such information is posted; (2) distribute via electronic
mail such information to beneficial owners of the Notes, prospective investors that certify that they are qualified institutional buyers, securities analysts and market makers who request to receive such distributions or (3) file such
information with the SEC. 
 (c) At any time that any of the Company’s Subsidiaries are Unrestricted Subsidiaries, then the
quarterly and annual financial information required by the preceding paragraph will include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” or other comparable section, of the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of
operations of the Unrestricted Subsidiaries of the Company. 

  
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 (d) The Company shall use its commercially reasonable efforts, consistent with its judgment
as to what is prudent at the time, to participate in quarterly conference calls to discuss operating results and related matters. The Company shall issue a press release which will provide the date and time of any such call and will direct Holders,
prospective investors and securities analysts to contact the investor relations office of the Company to obtain access to the conference call. 
 (e) In addition, the Company will furnish to the Holders and prospective investors upon their request, any information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act so long
as the Notes are not freely transferable under the Securities Act. 
 (f) Notwithstanding anything herein to the contrary, the
Company will not be deemed to have failed to comply with any of its obligations under this Section 4.03 for purposes of clause (3) under Section 6.01 hereof until 90 days after the date any report is due under this Section 4.03.

 SECTION 4.04. Compliance Certificate. 
 (a) The Company shall deliver to the Trustee, within 90 days after the end of each fiscal year ending after the Issue Date, a certificate from the principal executive officer, principal financial officer
or principal accounting officer stating that a review of the activities of the Company and its Restricted Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officer with a view to determining whether the
Company and its Restricted Subsidiaries have kept, observed, performed and fulfilled their obligations under this Indenture, and further stating, as to such Officer signing such certificate, that to the best of his or her knowledge the Company and
its Restricted Subsidiaries have kept, observed, performed and fulfilled each and every condition and covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions, covenants and
conditions of this Indenture (or, if a Default shall have occurred, describing all such Defaults of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto). 

(b) When any Default has occurred and is continuing under this Indenture, or if the Trustee or the holder of any other evidence of
Indebtedness of the Company or any Subsidiary gives any notice or takes any other action with respect to a claimed Default, the Company shall promptly (which shall be no more than five Business Days after becoming aware of such Default) deliver to
the Trustee by registered or certified mail or by facsimile transmission an Officer’s Certificate specifying such event and what action the Company proposes to take with respect thereto. 

  
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 SECTION 4.05. Taxes. The Company shall pay, and shall cause each of its
Restricted Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate negotiations or proceedings or where the failure to effect such payment is
not adverse in any material respect to the Holders of the Notes. 
 SECTION 4.06. Stay, Extension and Usury Laws.
The Company, the Co-Issuer and each of the Guarantors covenant (to the extent that they may lawfully do so) that they 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 Notes; and the Company, the Co-Issuer and each of the Guarantors (to the extent that they may
lawfully do so) hereby expressly waive all benefit or advantage of any such law, and covenant that they 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 4.07. Limitation on
Restricted Payments. 
 (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or
indirectly: 
 (I) declare or pay any dividend or make any payment or distribution on account of the
Company’s or any of its Restricted Subsidiaries’ Equity Interests, including any dividend or distribution payable in connection with any merger or consolidation, other than: 

(A) dividends or distributions by the Company payable solely in Equity Interests (other than Disqualified Stock) of the
Company; or 
 (B) dividends or distributions by a Restricted Subsidiary so long as, in the case of any dividend
or distribution payable on or in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly-Owned Subsidiary, the Company or a Restricted Subsidiary receives at least its pro rata share of such
dividend or distribution in accordance with its Equity Interests in such class or series of securities; 
 (II)
purchase, redeem, defease or otherwise acquire or retire for value any Equity Interests of the Company or any direct or indirect parent company of the Company, including in connection with any merger or consolidation; 

(III) make any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for value, in each
case, prior to any scheduled repayment, sinking fund payment or maturity, any Subordinated Indebtedness, other than: 
 (A) Indebtedness permitted under clauses (7) and (8) of Section 4.09(b) hereof; or 

  
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 (B) the purchase, repurchase 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; or 

(IV) make any Restricted Investment 
 (all such payments and other actions set forth in clauses (I) through (IV) above being collectively referred to as “Restricted Payments”), unless, at the time of such Restricted
Payment: 
 (1) no Default shall have occurred and be continuing or would occur as a consequence thereof;

 (2) immediately after giving effect to such transaction on a pro forma basis, the Company could
incur $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.09(a) hereof (the “Fixed Charge Coverage Test”); and 

(3) such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Company and
its Restricted Subsidiaries after the Issue Date (including Restricted Payments permitted by clauses (1), (2) (with respect to the payment of dividends on Refunding Capital Stock pursuant to clause (b) thereof only), (6)(C), (9) and
(14) of Section 4.07(b) hereof, but excluding all other Restricted Payments permitted by Section 4.07(b) hereof), is less than the sum of (without duplication): 

(A) 50.0% of the Consolidated Net Income of the Company for the period (taken as one accounting period and including the
predecessor) beginning on July 1, 2007, 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, in the case such Consolidated Net
Income for such period is a deficit, minus 100.0% of such deficit; plus 
 (B) 100.0% of the aggregate net
cash proceeds and the fair market value of marketable securities or other property received by the Company since immediately after the Issue Date (other than net cash proceeds to the extent such net cash proceeds have been used to incur Indebtedness
or issue Disqualified Stock or Preferred Stock pursuant to clause (12)(a) of Section 4.09(b) hereof) from the issue or sale of: 
 (i) (A) Equity Interests of the Company, including Treasury Capital Stock, but excluding cash proceeds and the fair market value of marketable securities or other property received from the sale of:

 (x) Equity Interests to any future, present or former employees, directors, officers, managers or
consultants, any direct or indirect parent company of the Company or any of the Company’s Subsidiaries after the Issue Date to the extent such amounts have been applied to Restricted Payments made in accordance with clause (4) of
Section 4.07(b) hereof; and 

  
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 (y) Designated Preferred Stock; 

and (B) to the extent such net cash proceeds are actually contributed to the Company, Equity Interests of any direct or indirect
parent company of the Company (excluding contributions of the proceeds from the sale of Designated Preferred Stock of such company or contributions to the extent such amounts have been applied to Restricted Payments made in accordance with clause
(4) of Section 4.07(b) hereof); or 
 (ii) debt securities of the Company that have been converted
into or exchanged for such Equity Interests of the Company; 
 provided that this clause (B) shall not include the
proceeds from (W) Refunding Capital Stock, (X) Equity Interests or convertible debt securities of the Company sold to a Restricted Subsidiary, (Y) Disqualified Stock or debt securities that have been converted into Disqualified Stock
or (Z) Excluded Contributions; plus 
 (C) 100.0% of the aggregate amount of cash and the fair market
value of marketable securities or other property contributed to the capital of the Company following the Issue Date (other than net cash proceeds to the extent such net cash proceeds have been used to incur Indebtedness or issue Disqualified Stock
or Preferred Stock pursuant to clause (12)(a) of Section 4.09(b) hereof) (other than by a Restricted Subsidiary and other than any Excluded Contributions); plus 

(D) 100.0% of the aggregate amount received in cash and the fair market value of marketable securities or other property
received by means of: 
 (i) the sale or other disposition (other than to the Company or a Restricted
Subsidiary) of Restricted Investments made by the Company or its Restricted Subsidiaries and repurchases and redemptions of such Restricted Investments from the Company or its Restricted Subsidiaries (other than by the Company or a Restricted
Subsidiary) and repayments of loans or advances, and releases of guarantees, which constitute Restricted Investments made by the Company or its Restricted Subsidiaries, in each case after the Issue Date; or 

(ii) the sale (other than to the Company or a Restricted Subsidiary) of the stock of an Unrestricted Subsidiary or a
distribution from an Unrestricted Subsidiary (other than, in each case, to the extent the Investment in such Unrestricted Subsidiary constituted a Permitted Investment) or a dividend from an Unrestricted Subsidiary after the Issue Date; plus

  
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 (E) in the case of the redesignation of an Unrestricted Subsidiary as a
Restricted Subsidiary after the Issue Date, the fair market value of the Investment in such Unrestricted Subsidiary (which, if the fair market value of such Investment shall exceed $20.0 million, shall be determined by the board of directors of the
Company whose resolution with respect thereto will be delivered to the Trustee), at the time of the redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary, other than to the extent the Investment in such Unrestricted Subsidiary
constituted a Permitted Investment. 
 (b) The foregoing provisions of Section 4.07(a) hereof will not prohibit:

 (1) the payment of any dividend or other distribution or the consummation of any irrevocable redemption within
60 days after the date of declaration of the dividend or other distribution or giving of the redemption notice, as the case may be, if at the date of declaration or notice, the dividend or other distribution or redemption payment would have complied
with the provisions of this Indenture; 
 (2) (a) the redemption, repurchase, retirement or other acquisition of
any Equity Interests (“Treasury Capital Stock”) or Subordinated Indebtedness of the Company or any Equity Interests of any direct or indirect parent company of the Company, in exchange for, or out of the proceeds of the
substantially concurrent sale (other than to a Restricted Subsidiary) of, Equity Interests of the Company or any direct or indirect parent company of the Company to the extent contributed to the Company (in each case, other than any Disqualified
Stock) (“Refunding Capital Stock”) and (b) if immediately prior to the retirement of Treasury Capital Stock, the declaration and payment of dividend thereon was permitted under clause (6) of this Section 4.07(b), the
declaration and payment of dividend on the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, retire or otherwise acquire any Equity Interests of any direct or indirect parent company
of the Company) in an aggregate amount per year no greater than the aggregate amount of dividends per annum that were declarable and payable on such Treasury Capital Stock immediately prior to such retirement; 

(3) the defeasance, redemption, repurchase or other acquisition or retirement of (i) Subordinated Indebtedness of the
Company, the Co-Issuer or a Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale of, new Indebtedness of the Company, the Co-Issuer or a Guarantor or (ii) Disqualified Stock of the Company, the Co-Issuer
or a Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale of, Disqualified Stock of the Company, the Co-Issuer or a Guarantor, that, in each case, is incurred in compliance with Section 4.09 hereof so long
as: 
 (A) the principal amount (or accreted value, if applicable) of such new Indebtedness or the liquidation
preference of such new Disqualified Stock does not exceed the principal amount of (or accreted value, if applicable), plus any accrued and unpaid interest on, the Subordinated Indebtedness or the liquidation preference of, plus any accrued and
unpaid dividends on, the Disqualified Stock being so defeased, redeemed, repurchased, acquired or retired for value, plus the amount of any reasonable premium required to be paid under the terms of the instrument governing the Subordinated
Indebtedness or Disqualified Stock being so defeased, redeemed, repurchased, acquired or retired, defeasance costs and any reasonable fees and expenses incurred in connection with the issuance of such new Indebtedness or Disqualified Stock;

  
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 (B) such new Indebtedness is subordinated to the Notes or the applicable
Guarantee at least to the same extent as such Subordinated Indebtedness so defeased, redeemed, repurchased, acquired or retired; 
 (C) such new Indebtedness or Disqualified Stock has a final scheduled maturity date equal to or later than the final scheduled maturity date of the Subordinated Indebtedness or Disqualified Stock being so
defeased, redeemed, repurchased, acquired or retired; and 
 (D) such new Indebtedness or Disqualified Stock has
a Weighted Average Life to Maturity equal to or greater than the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness or Disqualified Stock being so defeased, redeemed, repurchased, acquired or retired; 

(4) a Restricted Payment to pay for the repurchase, retirement or other acquisition or retirement for value of Equity
Interests (other than Disqualified Stock) of the Company or any direct or indirect parent company of the Company held by any future, present or former employee, director, officer, manager or consultant of the Company, any of its Subsidiaries or any
of its direct or indirect parent companies pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, including any Equity Interest
rolled over by management of the Company or any direct or indirect parent company of the Company in connection with the Transactions; provided that the aggregate amount of Restricted Payments made under this clause (4) does not exceed
$5.0 million in the first fiscal year following the Issue Date (which amount shall be increased by $1.0 million each fiscal year thereafter and, if applicable, will be increased to $10.0 million following the consummation of an underwritten public
Equity Offering) (with unused amounts in any fiscal year being carried over to succeeding fiscal years subject to a maximum (without giving effect to the following proviso) of $10.0 million in any fiscal year (which shall increase to $15.0 million
subsequent to the consummation of an underwritten public Equity Offering)); provided, further, that such amount in any fiscal year may be increased by an amount not to exceed: 

(A) the cash proceeds from the sale of Equity Interests (other than Disqualified Stock) of the Company and, to the extent
contributed to the Company, Equity Interests of any direct or indirect parent company of the Company, in each case to any future, present or former employees, directors, officers, managers or consultants of the Company, any of its Subsidiaries or
any of its direct or indirect parent companies that occurs after the Issue Date, to the extent the cash proceeds from the sale of such Equity Interests have not otherwise been applied to the payment of Restricted Payments by virtue of clause
(3) of Section 4.07(a) hereof; plus 

  
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 (B) the cash proceeds of key man life insurance policies received by the
Company or its Restricted Subsidiaries after the Issue Date; less 
 (C) the amount of any Restricted
Payments previously made with the cash proceeds described in clauses (A) and (B) of this clause (4); 
 and
provided further that cancellation of Indebtedness owing to the Company from any future, present or former employees, directors, officers, managers or consultants of the Company, any direct or indirect parent company of the Company or
any of the Company’s Restricted Subsidiaries in connection with a repurchase of Equity Interests of the Company or any of its direct or indirect parent companies will not be deemed to constitute a Restricted Payment for purposes of this
Section 4.07 or any other provision of this Indenture; 
 (5) the declaration and payment of dividends to
holders of any class or series of Disqualified Stock of the Company or any of its Restricted Subsidiaries or any class or series of Preferred Stock of any Restricted Subsidiary issued in accordance with Section 4.09 hereof to the extent such
dividends are included in the definition of “Fixed Charges”; 
 (6) (A) the declaration and payment of
dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) issued by the Company after the Issue Date; 
 (B) the declaration and payment of dividends to any direct or indirect parent company of the Company, the proceeds of which will be used to fund the payment of dividends to holders of any class or series
of Designated Preferred Stock (other than Disqualified Stock) issued by such parent company after the Issue Date, provided that the amount of dividends paid pursuant to this clause (B) shall not exceed the aggregate amount of cash
actually contributed to the Company from the sale of such Designated Preferred Stock; or 
 (C) the declaration
and payment of dividends on Refunding Capital Stock that is Preferred Stock in excess of the dividends declarable and payable thereon pursuant to clause (2) of this Section 4.07(b); 

provided, in the case of each of (A), (B) and (C) of this clause (6), that for the most recently ended four full fiscal
quarters for which internal financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock or the declaration of such dividends on Refunding Capital Stock that is Preferred Stock, after giving effect
to such issuance or declaration on a pro forma basis, the Company would have had a Fixed Charge Coverage Ratio of at least 2.00 to 1.00; 

  
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 (7) [reserved]; 

(8) payments made or expected to be made by the Company or any Restricted Subsidiary in respect of withholding or similar
taxes payable by any future, present or former employee, director, officer, manager or consultant and any repurchases of Equity Interests deemed to occur upon exercise of stock options or warrants if such Equity Interests represent a portion of the
exercise price of such options or warrants; 
 (9) the declaration and payment of dividends on the Company’s
common stock (or the payment of dividends to any direct or indirect parent company of the Company to fund a payment of dividends on such company’s common stock), following the first public offering of the Company’s common stock or the
common stock of any direct or indirect parent company of the Company after the Issue Date, of up to 6.0% per annum of the net cash proceeds received by or contributed to the Company in or from any such public offering, other than public
offerings with respect to the Company’s common stock registered on Form S-4 or Form S-8 and other than any public sale constituting an Excluded Contribution; 

(10) Restricted Payments that are made with Excluded Contributions; 

(11) other Restricted Payments in an aggregate amount taken together with all other Restricted Payments made pursuant to
this clause (11) not to exceed the greater of (a) $40.0 million and (b) 4.0% of Total Assets; 

(12) distributions or payments of Securitization Fees; 

(13) any Restricted Payment made in connection with the Transactions and the fees and expenses related thereto or owed to
Affiliates, in each case to the extent permitted by Section 4.11 hereof; 
 (14) the repurchase, redemption
or other acquisition or retirement for value of any Subordinated Indebtedness pursuant to the provisions similar to those described under Section 4.10 and Section 4.14 hereof; provided that all Notes validly tendered by Holders in
connection with a Change of Control Offer or Asset Sale Offer, as applicable, have been repurchased, redeemed, acquired or retired for value; 
 (15) the declaration and payment of dividends by the Company to, or the making of loans to, any direct or indirect parent company of the Company in amounts required for any direct or indirect parent
company of the Company to pay, in each case without duplication, 
 (A) franchise and excise taxes and other
fees, taxes and expenses required to maintain their corporate existence; 

  
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 (B) foreign, federal, state and local income taxes, to the extent such
income taxes are attributable to the income of the Company and its Restricted Subsidiaries and, to the extent of the amount actually received from its Unrestricted Subsidiaries, in amounts required to pay such taxes to the extent attributable to the
income of such Unrestricted Subsidiaries; provided that in each case the amount of such payments in any fiscal year does not exceed the amount that the Company and its Restricted Subsidiaries would be required to pay in respect of foreign,
federal, state and local taxes for such fiscal year were the Company, its Restricted Subsidiaries and its Unrestricted Subsidiaries (to the extent described above) to pay such taxes separately from any such parent company; 

(C) customary salary, bonus and other benefits payable to employees, directors, officers and managers of any direct or
indirect parent company of the Company to the extent such salaries, bonuses and other benefits are attributable to the ownership or operation of the Company and its Restricted Subsidiaries; 

(D) general corporate operating and overhead costs and expenses of any direct or indirect parent company of the Company to
the extent such costs and expenses are attributable to the ownership or operation of the Company and its Restricted Subsidiaries; 
 (E) fees and expenses other than to Affiliates of the Company related to any unsuccessful equity or debt offering of such parent company; 

(F) [reserved]; 
 (G) amounts payable to the Sponsor pursuant to the Management Fee Agreement as in effect on the Issue Date, solely to the extent such amounts are not paid directly by the Company or its Subsidiaries;

 (H) cash payments in lieu of issuing fractional shares in connection with the exercise of warrants, options or
other securities convertible into or exchangeable for Equity Interests of the Company or any direct or indirect parent company of the Company; and 
 (I) to finance Investments otherwise permitted to be made pursuant to this Section 4.07; provided that (i) such Restricted Payment shall be made substantially concurrently with the
closing of such Investment, (ii) such direct or indirect parent company shall, immediately following the closing thereof, cause (x) all property acquired (whether assets or Equity Interests) to be contributed to the capital of the Company
or one of its Restricted Subsidiaries or (y) the merger of the Person formed or acquired into the Company or one of its Restricted Subsidiaries (to the extent not prohibited by Section 5.01 hereof) in order to consummate such Investment,
(iii) such direct or indirect parent company and its Affiliates (other than the Company or a Restricted Subsidiary) receives no consideration or other payment in connection with such transaction except to the

  
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extent the Company or a Restricted Subsidiary could have given such consideration or made such payment in compliance with this Indenture, (iv) any property received by the Company shall not
increase amounts available for Restricted Payments pursuant to clause (3) of Section 4.07(a) and (v) such Investment shall be deemed to be made by the Company or such Restricted Subsidiary pursuant to another provision of this
Section 4.07 (other than pursuant to clause (10) of Section 4.07(b)) or pursuant to the definition of “Permitted Investments” (other than clause (9) thereof). 

(16) the distribution, by dividend or otherwise, of shares of Capital Stock of, or Indebtedness owed to the Company or a
Restricted Subsidiary by, Unrestricted Subsidiaries (other than Unrestricted Subsidiaries, the primary assets of which are Cash Equivalents); 
 (17) the purchase, redemption or other acquisition from Strategic Investors of Equity Interests in any Qualified Restricted Subsidiary; and 

(18) Restricted Payments in an aggregate amount not to exceed the amount of Net Proceeds from Reverted Asset Dispositions
that are not required to be applied to reduce Obligations under the Senior Credit Facilities pursuant to Section 4.10 hereof; 
 provided that at the time of, and after giving effect to, any Restricted Payment permitted under clauses (11) and (16) of this Section 4.07(b), no Default shall have occurred and be
continuing or would occur as a consequence thereof. 
 (c) As of the Issue Date, all of the Company’s Subsidiaries will be
Restricted Subsidiaries. The Company shall not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the penultimate sentence of the definition of “Unrestricted Subsidiary.” For purposes of designating any
Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Company and its Restricted Subsidiaries in the Subsidiary so designated will be deemed to be Restricted Payments in an amount determined as set forth in the
penultimate sentence of the definition of “Investments.” Such designation will be permitted only if a Restricted Payment in such amount would be permitted at such time, whether pursuant to Section 4.07(a) hereof or under clause
(10) or (11) of Section 4.07(b) hereof, or pursuant to the definition of “Permitted Investments,” and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted Subsidiaries will not be
subject to any of the restrictive covenants set forth in this Indenture. 
 SECTION 4.08. Dividend and Other Payment
Restrictions Affecting Restricted Subsidiaries. 
 (a) The Company shall not, and shall not permit any of its Restricted
Subsidiaries that is not the Co-Issuer or a Guarantor to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any such Restricted Subsidiary
to: 
 (1) (A) pay dividends or make any other distributions to the Company or any of its Restricted Subsidiaries
on its Capital Stock or with respect to any other interest or participation in, or measured by, its profits, or 

  
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 (B) pay any Indebtedness owed to the Company or any of its Restricted
Subsidiaries; 
 (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 restrictions in Section 4.08(a) hereof shall not apply to encumbrances or restrictions existing under or by
reason of: 
 (1) contractual encumbrances or restrictions in effect on the Issue Date, including pursuant to the
Senior Credit Facilities and the related documentation, Hedging Obligations and the Senior Indenture and the related documentation; 
 (2) this Indenture, the Notes and the guarantees thereof; 
 (3)
purchase money obligations for property acquired in the ordinary course of business and Capital Lease Obligations that impose restrictions of the nature discussed in clause (3) of Section 4.08(a) hereof on the property so acquired;

 (4) applicable law or any applicable rule, regulation or order; 

(5) any agreement or other instrument of a Person acquired by the Company or any of its Restricted Subsidiaries in
existence at the time of such acquisition (but, in any such case, not created in contemplation thereof), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person so acquired
and its Subsidiaries, or the property or assets of the Person so acquired and its Subsidiaries; 
 (6) contracts
for the sale of assets, including customary restrictions with respect to a Subsidiary of the Company pursuant to an agreement that has been entered into for the sale or disposition of all or substantially all of the Capital Stock or assets of such
Subsidiary; 
 (7) Secured Indebtedness otherwise permitted to be incurred pursuant to Section 4.09 hereof
and Section 4.12 hereof that limit the right of the debtor to dispose of the assets securing such Indebtedness; 
 (8) restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business; 

(9) [reserved]; 

  
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 (10) customary provisions in joint venture agreements and other similar
agreements relating solely to such joint venture; 
 (11) customary provisions contained in leases, licenses or
similar agreements, including with respect to intellectual property and other agreements, in each case, entered into in the ordinary course of business; 
 (12) restrictions created in connection with any Qualified Securitization Facility that, in the good faith determination of the Company are necessary or advisable to effect such Qualified Securitization
Facility; 
 (13) restrictions or conditions contained in any trading, netting, operating, construction, service,
supply, purchase, sale or other agreement to which the Company or any of its Restricted Subsidiaries is a party entered into in the ordinary course of business; provided that such agreement prohibits the encumbrance of solely the property or
assets of the Company or such Restricted Subsidiary that are the subject to such agreement, the payment rights arising thereunder or the proceeds thereof and does not extend to any other asset or property of the Company or such Restricted Subsidiary
or the assets or property of another Restricted Subsidiary; 
 (14) any encumbrances or restrictions of the type
referred to in clauses (1), (2) and (3) of this Section 4.08(a) hereof imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or
obligations referred to in clauses (1) through (13) of Section 4.08(b); provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good
faith judgment of the Company, no more restrictive with respect to such encumbrance and other restrictions taken as a whole than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or
refinancing; 
 (15) restrictions on the transfer of property or assets required by any Governmental Authority
having jurisdiction over the Company or any Restricted Subsidiary of the Company or any of their businesses; 

(16) restrictions in Management Agreements that require the payment of management fees to the Company or one of its
Restricted Subsidiaries prior to payment of dividends or distributions; and 
 (17) Permitted Payment
Restrictions. 
 SECTION 4.09. Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and 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 (collectively, “incur” and collectively, an “incurrence”), with respect to any Indebtedness
(including Acquired Indebtedness) and the Company will not issue any shares of Disqualified Stock and will not permit any Restricted 

  
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Subsidiary to issue any shares of Disqualified Stock or Preferred Stock; provided that (x) the Company, the Co-Issuer and the Guarantors may incur Indebtedness (including Acquired
Indebtedness) or issue shares of Disqualified Stock, and the Co-Issuer and the Guarantors may issue Preferred Stock, if the Fixed Charge Coverage Ratio of the Company for the Company’s most recently ended four fiscal quarters for which internal
financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or Preferred Stock is issued would have been at least 2.00 to 1.00, 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 Disqualified Stock or Preferred Stock had been issued, as the case may be, and the
application of net proceeds therefrom had occurred at the beginning of such four-quarter period and (y) Restricted Subsidiaries may incur Indebtedness (including Acquired Indebtedness) or issue Disqualified Stock or Preferred Stock if all such
Indebtedness incurred, and Disqualified Stock and Preferred Stock issued, in reliance upon this clause (y) does not exceed 1.25x Operating Facility EBITDA for the Company’s most recently ended four full fiscal quarters for which internal
financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or such Preferred Stock is issued, as the case may be, determined on a pro forma basis
(including a pro forma application of net proceeds therefrom), as if the additional Indebtedness had been incurred, or the Disqualified Stock or the Preferred Stock had been issued, as the case may be, and the application of net
proceeds therefrom had occurred at the beginning of such four-quarter period. 
 (b) The provisions of Section 4.09(a)
hereof shall not apply to: 
 (1) the incurrence of Indebtedness pursuant to the Credit Facilities by the Company
or any Restricted Subsidiary and the issuance and creation of letters of credit and bankers’ acceptances thereunder (with letters of credit and bankers’ acceptances being deemed to have a principal amount equal to the face amount thereof)
up to the greater of (a) an aggregate principal amount of $580.0 million and (b) an aggregate principal amount of Indebtedness (with all Indebtedness incurred under this clause (1) being deemed Secured Indebtedness for purposes of
making the determination hereunder) outstanding at any one time that does not cause the Consolidated Secured Debt Ratio to exceed 4.50 to 1.00, determined on a pro forma basis (including a pro forma application of the net
proceeds therefrom); provided that the amount of Indebtedness incurred by non-guarantor Subsidiaries pursuant to this clause (1) shall not exceed $100.0 million in the aggregate at any time outstanding; 

(2) the incurrence by the Company, the Co-Issuer and any Guarantor of Indebtedness represented by (a) the Initial
Notes (including any Guarantee, but excluding any Additional Notes) and (b) the Senior Notes (including any guarantee thereof, but excluding any Additional Notes (as defined in the Senior Indenture)); 

(3) Indebtedness of the Company and its Restricted Subsidiaries in existence on the Issue Date (other than Indebtedness
described in clauses (1) and (2) of this Section 4.09(b)); 

  
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 (4) Indebtedness (including Capitalized Lease Obligations) and Disqualified
Stock incurred or issued by the Company or any of its Restricted Subsidiaries, and Preferred Stock issued by any Restricted Subsidiaries, to finance the purchase, lease or improvement of property (real or personal) or equipment that is used or
useful in a Similar Business, whether through the direct purchase of assets or the Capital Stock of any Person owning such assets in an aggregate principal amount, together with any Refinancing Indebtedness in respect thereof and all other
Indebtedness, Disqualified Stock and Preferred Stock incurred or issued and outstanding under this clause (4), not to exceed the greater of (a) $50.0 million and (b) 5.0% of Total Assets (in each case determined at the date of incurrence)
at any time outstanding, so long as such Indebtedness, Disqualified Stock or Preferred Stock is incurred or issued at the date of such purchase, lease or improvement or within 270 days thereafter; 

(5) Indebtedness incurred by the Company or any of its Restricted Subsidiaries constituting reimbursement obligations with
respect to letters of credit issued in the ordinary course of business, including letters of credit in respect of workers’ compensation claims, or other Indebtedness with respect to reimbursement type obligations regarding workers’
compensation claims; provided that upon the drawing of such letters of credit or the incurrence of such Indebtedness, such obligations are reimbursed within 30 days following such drawing or incurrence; 

(6) Indebtedness arising from agreements of the Company or its Restricted Subsidiaries providing for indemnification,
adjustment of purchase price, earnouts or similar obligations, in each case, incurred or assumed in connection with the disposition of any business, assets or a Subsidiary, other than guarantees of Indebtedness incurred by any Person acquiring all
or any portion of such business, assets or a Subsidiary for the purpose of financing such acquisition; provided that such Indebtedness is not reflected on the balance sheet of the Company or any of its Restricted Subsidiaries (contingent
obligations referred to in a footnote to financial statements and not otherwise reflected on the balance sheet will not be deemed to be reflected on such balance sheet for purposes of this clause (6)); 

(7) Indebtedness of the Company or the Co-Issuer to a Qualified Restricted Subsidiary; provided that any such
Indebtedness owing to a Qualified Restricted Subsidiary that is not the Co-Issuer or a Guarantor is expressly subordinated in right of payment to the Notes; provided, further, that any subsequent issuance or transfer of any Capital
Stock or any other event which results in any such Qualified Restricted Subsidiary ceasing to be a Qualified Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Company, the Co-Issuer or another Qualified
Restricted Subsidiary) shall be deemed, in each case, to be an incurrence of such Indebtedness not permitted by this clause; 
 (8) Indebtedness of a Qualified Restricted Subsidiary to the Company, the Co-Issuer or another Qualified Restricted Subsidiary; provided that if the Co-Issuer or a Guarantor incurs such
Indebtedness to a Qualified Restricted Subsidiary that is not the Co-Issuer or a Guarantor, such Indebtedness is expressly subordinated in right of payment to the Notes or the Guarantee of the Notes of such Guarantor, as applicable;

  
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provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Qualified Restricted Subsidiary ceasing to be a
Qualified Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Company, the Co-Issuer or another Qualified Restricted Subsidiary) shall be deemed, in each case, to be an incurrence of such Indebtedness not
permitted by this clause; 
 (9) shares of Preferred Stock of a Qualified Restricted Subsidiary issued to the
Company, the Co-Issuer or another Qualified Restricted Subsidiary; provided that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Qualified Restricted Subsidiary ceasing to be a Qualified
Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred Stock (except to the Company, the Co-Issuer or another Qualified Restricted Subsidiary) shall be deemed, in each case, to be an issuance of such shares of
Preferred Stock not permitted by this clause; 
 (10) Hedging Obligations (excluding Hedging Obligations entered
into for speculative purposes) for the purpose of limiting interest rate risk with respect to any Indebtedness permitted to be incurred under this Indenture, exchange rate risk or commodity pricing risk; 

(11) obligations in respect of performance, bid, appeal and surety bonds and completion guarantees and similar obligations
provided by the Company or any of its Restricted Subsidiaries in the ordinary course of business; 
 (12) (a)
Indebtedness or Disqualified Stock of the Company and Indebtedness, Disqualified Stock or Preferred Stock of the Co-Issuer or any other Qualified Restricted Subsidiary in an aggregate principal amount or liquidation preference up to 200.0% of the
net cash proceeds received by the Company since immediately after the Issue Date from the issue or sale of Equity Interests of the Company or cash contributed to the capital of the Company (in each case, other than proceeds of Disqualified Stock or
sales of Equity Interests to the Company or any of its Subsidiaries) as determined in accordance with clauses (3)(B) and (3)(C) of Section 4.07(a) hereof to the extent such net cash proceeds or cash have not been applied pursuant to
such clauses to make Restricted Payments or to make other Investments, payments or exchanges pursuant to Section 4.07(b) hereof or to make Permitted Investments (other than Permitted Investments specified in clause (1) or (3) of the
definition thereof) and (b) Indebtedness or Disqualified Stock of the Company and Indebtedness, Disqualified Stock or Preferred Stock of the Co-Issuer or any other Qualified Restricted Subsidiary not otherwise permitted hereunder in an
aggregate principal amount or liquidation preference which, when aggregated with the principal amount and liquidation preference of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and incurred pursuant to this clause
(12)(b), does not at any one time outstanding exceed the greater of (x) $60.0 million and (y) 6.0% of Total Assets (it being understood that any Indebtedness, Disqualified Stock or Preferred Stock incurred pursuant to this clause
(12)(b) shall cease to be deemed incurred or outstanding for purposes of this clause (12)(b) but shall be deemed incurred for the purposes of the first paragraph of this covenant from and after the first date on which the Company, the

  
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Co-Issuer or such Qualified Restricted Subsidiary could have incurred such Indebtedness, Disqualified Stock or Preferred Stock under Section 4.09(a) hereof without reliance on this clause
(12)(b)); 
 (13) the incurrence by the Company or any Restricted Subsidiary of Indebtedness, the issuance by the
Company or any Restricted Subsidiary of Disqualified Stock or the issuance by any Restricted Subsidiary of Preferred Stock which serves to extend, replace, refund, refinance, renew or defease any Indebtedness incurred or Disqualified Stock or
Preferred Stock issued as permitted under Section 4.09(a) and clauses (2), (3), (4) and (12)(a) of this Section 4.09(b), this clause (13) and clauses (14) and (23) of this Section 4.09(b) or any Indebtedness
incurred or Disqualified Stock or Preferred Stock issued to so extend, replace, refund, refinance, renew or defease such Indebtedness, Disqualified Stock or Preferred Stock including additional Indebtedness, Disqualified Stock or Preferred Stock
incurred to pay premiums (including reasonable tender premiums), defeasance costs and fees in connection therewith (the “Refinancing Indebtedness”) prior to its respective maturity; provided that such Refinancing
Indebtedness: 
 (A) has a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is
incurred which is not less than the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being extended, replaced, refunded, refinanced, renewed or defeased; 

(B) to the extent such Refinancing Indebtedness extends, replaces, refunds, refinances, renews or defeases
(i) Indebtedness subordinated to the Notes or any Guarantee thereof, such Refinancing Indebtedness is subordinated to the Notes or the Guarantee thereof at least to the same extent as the Indebtedness being extended, replaced, refunded,
refinanced, renewed or defeased or (ii) Disqualified Stock or Preferred Stock, such Refinancing Indebtedness must be Disqualified Stock or Preferred Stock, respectively; and 

(C) shall not include: 
 (1) Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary of the Company that is not the Co-Issuer or a Guarantor that refinances Indebtedness or Disqualified Stock of the Company;

 (2) Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary of the Company that is not the
Co-Issuer or a Guarantor that refinances Indebtedness, Disqualified Stock or Preferred Stock of the Co-Issuer or a Guarantor; or 
 (3) Indebtedness or Disqualified Stock of the Company or Indebtedness, Disqualified Stock or Preferred Stock of a Restricted Subsidiary that refinances Indebtedness, Disqualified Stock or Preferred Stock
of an Unrestricted Subsidiary; 

  
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 and, provided, further, that subclause (A) of this clause (13) will
not apply to any extension, replacement, refunding, refinancing, renewal or defeasance of any Obligations secured by Permitted Liens. 
 (14) (x) Indebtedness or Disqualified Stock of the Company or Indebtedness, Disqualified Stock or Preferred Stock of the Co-Issuer or any other Qualified Restricted Subsidiary incurred to finance an
acquisition or (y) Indebtedness, Disqualified Stock or Preferred Stock of Persons that are acquired by the Company, the Co-Issuer or any other Qualified Restricted Subsidiary or merged into the Company, the Co-Issuer or any other Qualified
Restricted Subsidiary in accordance with the terms of this Indenture; provided that after giving effect to such acquisition or merger, either 
 (A) the Company would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Test, or 

(B) the Fixed Charge Coverage Ratio of the Company is equal to or greater than immediately prior to such acquisition or
merger; 
 (15) Indebtedness arising from the honoring by a bank or other financial institution of a check, draft
or similar instrument drawn against insufficient funds in the ordinary course of business, provided that such Indebtedness is extinguished within five Business Days of its incurrence; 

(16) Indebtedness of the Company or any of its Restricted Subsidiaries supported by a letter of credit issued pursuant to
the Credit Facilities, in a principal amount not in excess of the stated amount of such letter of credit; 
 (17)
(A) any guarantee by the Company or a Restricted Subsidiary of Indebtedness or other obligations of any Restricted Subsidiary so long as the incurrence of such Indebtedness incurred by such Restricted Subsidiary is permitted under the terms of this
Indenture (provided that in the case of any such guarantee by the Company, the Co-Issuer or a Guarantor of Indebtedness that is subordinated to the Notes or the Guarantee of such Guarantor, then the guarantee by the Company, the Co-Issuer or
such Guarantor shall be subordinated to the same extent as the Indebtedness being guaranteed), or (B) any guarantee by a Restricted Subsidiary of Indebtedness of the Company or the Co-Issuer; provided that such guarantee is incurred in
accordance with Section 4.15 hereof; 
 (18) Indebtedness consisting of Indebtedness issued by the Company
or any of its Restricted Subsidiaries to future, present or former employees, directors, officers, managers and consultants thereof, in each case to finance the purchase or redemption of Equity Interests of the Company or any direct or indirect
parent company of the Company to the extent described in clause (4) of Section 4.07(b) hereof; 
 (19)
customer deposits and advance payments received in the ordinary course of business from customers for services purchased in the ordinary course of business; 

  
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 (20) Indebtedness owed on a short-term basis of no longer than 30 days to
banks and other financial institutions incurred in the ordinary course of business of the Company and its Restricted Subsidiaries with such banks or financial institutions that arises in connection with ordinary banking arrangements to manage cash
balances of the Company and its Restricted Subsidiaries; 
 (21) Indebtedness incurred by a Restricted Subsidiary
in connection with bankers’ acceptances, discounted bills of exchange or the discounting or factoring of receivables for credit management purposes, in each case incurred or undertaken in the ordinary course of business on arm’s length
commercial terms on a recourse basis; 
 (22) Indebtedness of the Company or any of its Restricted Subsidiaries
consisting of (i) the financing of insurance premiums or (ii) take-or-pay obligations contained in supply arrangements, in each case incurred in the ordinary course of business; and 

(23) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness in the form of loans from a
Captive Insurance Subsidiary or obligations in respect of self insurance. 
 (c) For purposes of determining compliance with
this Section 4.09: 
 (1) in the event that an item of Indebtedness, Disqualified Stock or Preferred Stock
(or any portion thereof) meets the criteria of more than one of the categories of Permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses (1) through (23) of Section 4.09(b) hereof or is entitled to be
incurred pursuant to Section 4.09(a) hereof, the Company, in its sole discretion, will classify or reclassify such item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) and will only be required to include the
amount and type of such Indebtedness, Disqualified Stock or Preferred Stock in one of the above clauses or under Section 4.09(a) hereof; provided that all Indebtedness outstanding under the Senior Credit Facilities on the Issue Date will
be treated as incurred on the Issue Date under clause (1) of Section 4.09(b) hereof and the Company shall not be permitted to reclassify all or any portion of such Indebtedness under the Senior Credit Facilities outstanding on the Issue
Date; and 
 (2) at the time of incurrence, the Company will be entitled to divide and classify an item of
Indebtedness in more than one of the types of Indebtedness described in Section 4.09(a) and Section 4.09(b) hereof. 

Accrual of interest or dividends, the accretion of accreted value, the accretion or amortization of original issue discount and the
payment of interest or dividends in the form of additional Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, of the same class will not be deemed to be an incurrence of Indebtedness, Disqualified Stock or Preferred Stock for
purposes of this Section 4.09. 

  
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 For purposes of determining compliance with any U.S. dollar-denominated restriction on the
incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred, in the
case of term debt, or first committed, in the case of revolving credit debt; provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable
U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the
principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. 

The principal amount of any Indebtedness incurred to refinance other Indebtedness, if incurred in a different currency from the
Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such respective Indebtedness is denominated that is in effect on the date of such refinancing. 

SECTION 4.10. Asset Sales. 
 (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, consummate directly or indirectly an Asset Sale, unless: 

(1) except in the case of a Reverted Asset Disposition, the Company or such Restricted Subsidiary, as the case may be,
receives consideration at the time of such Asset Sale at least equal to the fair market value of the assets sold or otherwise disposed of; and 
 (2) except in the case of a Permitted Asset Swap, at least 75.0% of the consideration therefor received by the Company or such Restricted Subsidiary, as the case may be, is in the form of Cash
Equivalents; provided that the amount of: 
 (A) any liabilities (as shown on the Company’s or such
Restricted Subsidiary’s most recent balance sheet or in the footnotes thereto) of the Company or such Restricted Subsidiary, other than liabilities that are by their terms subordinated to the Notes, that are assumed by the transferee of any
such assets and for which the Company and all of its Restricted Subsidiaries have been validly released by all creditors in writing; 
 (B) any securities, notes or other obligations or assets received by the Company or such Restricted Subsidiary from such transferee that are converted by the Company or such Restricted Subsidiary into
cash (to the extent of the cash received) within 180 days following the closing of such Asset Sale; and 

(C)    (i) any Designated Non-cash Consideration received by the Company or a Restricted Subsidiary in
connection with the sale or contribution of assets by the Company or a Restricted Subsidiary to a joint venture with a Strategic Investor, provided, however, that (x) any such Designated Non-cash Consideration that is converted
into Cash Equivalents shall be treated as Net Proceeds in the manner set forth below and (y) in the event such Designated Non-cash Consideration is other than in the form of Indebtedness, such Designated Non-cash Consideration shall be deemed
to have been acquired and consequently 

  
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reduce amounts available under clause (13) or (22) of the definition of “Permitted Investments,” as determined by the Company, and (ii) any Designated Non-cash
Consideration received by the Company or such Restricted Subsidiary in such Asset Sale having an aggregate fair market value, taken together with all other Designated Non-cash Consideration received pursuant to this clause (c) that is at that
time outstanding, not to exceed the greater of (x) $40.0 million and (y) 4.0% of Total Assets at the time of the receipt of such Designated Non-cash Consideration, with the fair market value of each item of Designated Non-cash
Consideration being measured at the time received and without giving effect to subsequent changes in value, 
 shall be deemed to be Cash
Equivalents for purposes of this provision and for no other purpose. 
 (b) Within 450 days after the receipt of any Net
Proceeds of any Asset Sale other than a Reverted Asset Disposition, the Company or such Restricted Subsidiary, at its option, may apply the Net Proceeds from such Asset Sale, 

(1) to permanently reduce: 
 (A) Obligations under Senior Indebtedness, and to correspondingly reduce commitments with respect thereto; 
 (B) Obligations under Senior Subordinated Indebtedness (and to correspondingly reduce commitments with respect thereto), provided that the Issuers shall equally and ratably reduce Obligations under
the Notes by redeeming Notes as provided under Section 3.07 hereof or through open-market purchases (to the extent such purchases are at or above 100.0% of the principal amount thereof) or by making an offer (in accordance with the procedures
set forth in Section 3.09 and Section 4.10(d) hereof) to all Holders to purchase their Notes at 100.0% of the principal amount thereof, plus the amount of accrued but unpaid interest, if any, on the amount of Notes to be repurchased; or

 (C) Indebtedness of a Restricted Subsidiary that is not the Co-Issuer or a Guarantor, other than Indebtedness
owed to the Company or another Restricted Subsidiary; 
 (2) to make (a) an Investment in any one or more
businesses, provided that such Investment in any business is in the form of the acquisition of Capital Stock and results in the Company or any of its Restricted Subsidiaries, as the case may be, owning an amount of the Capital Stock of such
business such that it constitutes a Restricted Subsidiary, (b) capital expenditures or (c) acquisitions of other assets, in each of (a), (b) and (c), used or useful in a Similar Business; or 

(3) to make an Investment in (a) any one or more businesses, provided that such Investment in any business is
in the form of the acquisition of Capital Stock and results in the Company or any of its Restricted Subsidiaries, as the case may be, owning an amount of the Capital Stock of such business such that it constitutes a Restricted Subsidiary,
(b) properties or (c) acquisitions of other assets that, in each of (a), (b) and (c), replace the businesses, properties and/or assets that are the subject of such Asset Sale; 

  
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 provided that, in the case of clauses (2) and (3) above, a binding commitment shall be
treated as a permitted application of the Net Proceeds from the date of such commitment so long as the Company or such other Restricted Subsidiary enters into such commitment with the good faith expectation that such Net Proceeds will be applied to
satisfy such commitment within 180 days of such commitment (an “Acceptable Commitment”) and, in the event any such Acceptable Commitment is later cancelled or terminated for any reason before such Net Proceeds are applied, then such
Net Proceeds shall constitute Excess Proceeds. 
 (c) Within five Business Days after the receipt of any Net Proceeds from a
Reverted Asset Disposition, the Company or such Restricted Subsidiary shall apply the Net Proceeds from such Reverted Asset Disposition to permanently reduce Obligations under the Senior Credit Facilities, and to correspondingly reduce commitments
with respect thereto, in an amount necessary so that, after giving pro forma effect to such Reverted Asset Disposition and the reduction of Obligations under the Senior Credit Facilities, the Consolidated Total Debt Ratio shall not exceed 6.90 to
1.00. Net Proceeds from a Reverted Asset Disposition that are not so applied may be applied in any manner otherwise permitted by this Indenture, including to make a Restricted Payment. 

(d) Any Net Proceeds from the Asset Sale that are not invested or applied as provided and within the time period set forth in
Section 4.10(b) hereof will be deemed to constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $20.0 million, the Issuers shall make an offer to all Holders of the Notes and, if required by the
terms of any Indebtedness that is pari passu with the Notes (“Pari Passu Indebtedness”), to the holders of such Pari Passu Indebtedness (an “Asset Sale Offer”), to purchase the maximum aggregate
principal amount of the Notes and such Pari Passu Indebtedness that is in an amount equal to $2,000 or an integral multiple of $1,000 in excess of $2,000, that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal
to 100.0% of the principal amount thereof (or accreted value thereof, if less), plus accrued and unpaid interest, if any, to the date fixed for the closing of such offer, in accordance with the procedures set forth in this Indenture. The Issuers
will commence an Asset Sale Offer with respect to Excess Proceeds within ten Business Days after the date that Excess Proceeds exceed $20.0 million by delivering the notice required pursuant to the terms of this Indenture, with a copy to the
Trustee. The Issuers may satisfy the foregoing obligations with respect to any Net Proceeds from an Asset Sale by making an Asset Sale Offer with respect to such Net Proceeds prior to the expiration of the relevant 450 days (or such longer period
provided above) or with respect to Excess Proceeds of $20.0 million or less. 
 To the extent that the aggregate amount of Notes
and such Pari Passu Indebtedness tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Issuers may use any remaining Excess Proceeds for general corporate purposes, subject to other covenants contained in this Indenture. If
the aggregate principal amount of Notes or the Pari Passu Indebtedness surrendered by such holders thereof exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and the Issuers shall select such Pari Passu Indebtedness to be
purchased on a pro rata basis based on the accreted value or principal amount of the Notes or such Pari Passu Indebtedness tendered. Upon completion of any such Asset Sale Offer, the amount of Excess Proceeds that resulted in the Asset
Sale Offer shall be reset to zero. 

  
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 (e) Pending the final application of any Net Proceeds pursuant to this Section 4.10,
the holder of such Net Proceeds may apply such Net Proceeds temporarily to reduce Indebtedness outstanding under a revolving credit facility or otherwise invest such Net Proceeds in any manner not prohibited by this Indenture. 

(f) The Issuers 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 or regulations are applicable in connection with the repurchase of the Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of
this Indenture, the Issuers will comply with the applicable securities laws and regulations and shall not be deemed to have breached their obligations described in this Indenture by virtue thereof. 

SECTION 4.11. Transactions with Affiliates. (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 of the Company (each of the foregoing, an “Affiliate Transaction”) involving aggregate payments or consideration in excess of $5.0 million, unless: 

(1) such Affiliate Transaction is on terms that are not materially less favorable to the Company or its 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 on an arm’s-length basis; and 

(2) the Company delivers to the Trustee with respect to any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate payments or consideration in excess of $10.0 million, a resolution adopted by the majority of the board of directors of the Company approving such Affiliate Transaction and set forth in an Officer’s Certificate
certifying that such Affiliate Transaction complies with clause (1) of this Section 4.11(a). 
 (b) The provisions of
Section 4.11(a) will not apply to the following: 
 (1) transactions between or among the Company or any of
its Restricted Subsidiaries; 
 (2) Restricted Payments permitted by Section 4.07 hereof and the definition
of “Permitted Investments”; 
 (3) the payment of management, consulting, monitoring, advisory and
other fees and related expenses pursuant to the Management Fee Agreement (plus any unpaid management, consulting, monitoring, advisory and other fees and related expenses accrued in any prior year) and the termination fees pursuant to the Management
Fee 

  
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Agreement, or any amendment thereto (so long as any such amendment is not disadvantageous in the good faith judgment of the board of directors of the Company to the Holders when taken as a whole,
as compared to the Management Fee Agreement as in effect on the Issue Date); 
 (4) the payment of reasonable and
customary fees paid to, and indemnities provided for the benefit of, current or former employees, directors, officers, managers or consultants of the Company, any of its direct or indirect parent companies or any of its Restricted Subsidiaries;

 (5) transactions in which the Company or any of its Restricted Subsidiaries, as the case may be, delivers to
the Trustee a letter from an Independent Financial Advisor stating that such transaction is fair to the Company or such Restricted Subsidiary from a financial point of view or stating that the terms are not materially less favorable to the Company
or its 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 on an arm’s-length basis; 

(6) any agreement as in effect as of the Issue Date, or any amendment thereto (so long as any such amendment is not
disadvantageous in the good faith judgment of the board of directors of the Company to the Holders when taken as a whole as compared to the applicable agreement as in effect on the Issue Date); 

(7) the existence of, or the performance by the Company or any of its Restricted Subsidiaries of its obligations under the
terms of, any stockholders agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of the Issue Date and any similar agreements which it may enter into thereafter; provided that
the existence of, or the performance by the Company or any of its Restricted Subsidiaries of obligations under any future amendment to any such existing agreement or under any similar agreement entered into after the Issue Date shall only be
permitted by this clause (7) to the extent that the terms of any such amendment or new agreement are not otherwise disadvantageous in the good faith judgment of the board of directors of the Company to the Holders when taken as a whole;

 (8) the Transactions and the payment of all fees and expenses related to the Transactions, in each case as
contemplated by the Offering Circular; 
 (9) transactions with customers, clients, suppliers, contractors, joint
venture partners or purchasers or sellers of goods or services that are Affiliates, in each case in the ordinary course of business and otherwise in compliance with the terms of this Indenture which are fair to the Company and its Restricted
Subsidiaries, in the reasonable determination of the board of directors of the Company or the senior management thereof, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party;

 (10) the issuance of Equity Interests (other than Disqualified Stock) of the Company to any Permitted Holder
or to any employee, director, officer, manager or consultant of the Company, any of its direct or indirect parent companies or any of its Restricted Subsidiaries; 

  
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 (11) sales of accounts receivable, or participations therein, or related
assets in connection with any Qualified Securitization Facility; 
 (12) payments by the Company or any of its
Restricted Subsidiaries to the Sponsor made for any financial advisory, financing, underwriting or placement services or in respect of other investment banking activities, including, without limitation, in connection with acquisitions or
divestitures which payments are approved by a majority of the board of directors of the Company in good faith; 

(13) payments and Indebtedness and Disqualified Stock (and cancellation of any thereof) of the Company and its Restricted
Subsidiaries and Preferred Stock of Restricted Subsidiaries to any future, current or former employee, director, officer, manager or consultant of the Company, any of its Subsidiaries or any of its direct or indirect parent companies pursuant to any
management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement; and any employment agreements, stock option plans and other compensatory arrangements (and
any successor plans thereto) and any supplemental executive retirement benefit plans or arrangements with any such employees, directors, officers, managers, distributors or consultants that are, in each case, approved by the Company in good faith;

 (14) investments by the Sponsor in securities of the Company or any of its Restricted Subsidiaries (and
payment of reasonable out-of-pocket expenses incurred by the Sponsor in connection therewith) so long as (a) the investment is being offered generally to other investors on the same or more favorable terms and (b) the investment
constitutes less than 5.0% of the proposed or outstanding issue amount of such class of securities; 
 (15)
payments to or from, and transactions with, any joint venture in the ordinary course of business (including, without limitation, any cash management activities related thereto); 

(16) payments by the Company (and any direct or indirect parent company thereof) and its Subsidiaries pursuant to tax
sharing agreements among the Company (and any such parent company) and its Subsidiaries; provided that in each case the amount of such payments in any fiscal year does not exceed the amount that the Company, its Restricted Subsidiaries and
its Unrestricted Subsidiaries (to the extent of amount received from Unrestricted Subsidiaries) would be required to pay in respect of foreign, federal, state and local taxes for such fiscal year were the Company, its Restricted Subsidiaries and its
Unrestricted Subsidiaries (to the extent described above) to pay such taxes separately from any such parent entity; 

  
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 (17) any lease entered into between the Company or any Restricted
Subsidiary, as lessee, and any Affiliate of the Company, as lessor, which is approved by a majority of the disinterested members of the board of directors of the Company in good faith; 

(18) intellectual property licenses in the ordinary course of business; and 

(19) payments by the Company or any of its Restricted Subsidiaries of reasonable insurance premiums to, and any borrowings
or dividends received from, any Captive Insurance Subsidiary. 
 SECTION 4.12. Liens. The Issuers shall not, and
shall not permit any Guarantor to, directly or indirectly, create, incur, assume or suffer to exist any Lien (except Permitted Liens) that secures Obligations under any Indebtedness ranking pari passu with or subordinated to the Notes
or any related Guarantee, on any asset or property of the Company, the Co-Issuer, or any Guarantor, or any income or profits therefrom, or assign or convey any right to receive income therefrom, unless: 

(1) in the case of Liens securing Subordinated Indebtedness, the Notes and related Guarantees are secured by a Lien on
such property, assets or proceeds that is senior in priority to such Liens; and 
 (2) in all other cases, the
Notes or the Guarantees are equally and ratably secured, except that the foregoing shall not apply to (A) Liens securing the Notes and the related Guarantees and (B) Liens securing Senior Indebtedness of the Company, the Co-Issuer or any
Guarantor. 
 SECTION 4.13. Company Existence. Subject to Article V hereof, the Company shall do or cause to be done
all things necessary to preserve and keep in full force and effect (i) its company existence, and the corporate, partnership or other existence of the Co-Issuer and each of its other Restricted Subsidiaries, in accordance with the respective
organizational documents (as the same may be amended from time to time) of the Company, the Co-Issuer or any such other Restricted Subsidiary and (ii) the rights (charter and statutory), licenses and franchises of the Company, the Co-Issuer and
its other Restricted Subsidiaries; provided that the Company shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence of its Restricted Subsidiaries (other than the Co-Issuer),
if the Company in good faith shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company, the Co-Issuer and its other Restricted Subsidiaries, taken as a whole. 

SECTION 4.14. Offer to Repurchase Upon Change of Control. If a Change of Control occurs, unless the Issuers have previously
or concurrently delivered a redemption notice with respect to all the outstanding Notes as described under Section 3.07 hereof, the Issuers shall make an offer to purchase all of the Notes pursuant to the offer described below (the
“Change of Control Offer”) at a price in cash (the “Change of Control Payment”) equal to 101.0% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase, subject to
the right of Holders of the Notes of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date. Within 30 days following any 

  
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Change of Control, the Issuers shall deliver notice of such Change of Control Offer electronically or by first-class mail, with a copy to the Trustee, to each Holder of Notes to the address of
such Holder appearing in the Note Register or otherwise in accordance with the Applicable Procedures with the following information: 
 (1) that a Change of Control has occurred or will occur (together with the identification of the transaction or transactions that constitute such Change of Control) and that a Change of Control Offer is
being made pursuant to this Section 4.14 and that all Notes properly tendered pursuant to such Change of Control Offer will be accepted for payment by the Issuers; 

(2) the purchase price and the purchase date, which will be no earlier than 30 days nor later than 60 days from the date
such notice is delivered (the “Change of Control Payment Date”); 
 (3) that any Note not
properly tendered will remain outstanding and continue to accrue interest; 
 (4) that unless the Issuers default
in the payment of the Change of Control Payment, all Notes accepted for payment pursuant to the Change of Control Offer will cease to accrue interest on the Change of Control Payment Date; 

(5) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender
such Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of such Notes completed, to the paying agent specified in the notice 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; 
 (6) that Holders will be entitled to withdraw their
tendered Notes and their election to require the Issuers to purchase such Notes, provided that the paying agent receives, not later than the close of business on the expiration date of the Change of Control Offer, a telegram, facsimile
transmission or letter setting forth the name of the Holder of the Notes, the principal amount of Notes tendered for purchase, and a statement that such Holder is withdrawing its tendered Notes and its election to have such Notes purchased;

 (7) that Holders whose Notes are being purchased only in part will be issued new Notes and such new Notes will
be equal in principal amount to the unpurchased portion of the Notes surrendered. The unpurchased portion of the Notes must be equal to $2,000 or any integral multiple of $1,000 in excess of $2,000; 

(8) if such notice is delivered prior to the occurrence of a Change of Control, stating that the Change of Control Offer
is conditional on the occurrence of such Change of Control; and 
 (9) the other instructions, as determined by
the Issuers, consistent with this Section 4.14, that a Holder must follow. 

  
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 The notice, if delivered in a manner herein provided, shall be conclusively presumed to have been given,
whether or not the Holder receives such notice. If (a) the notice is delivered in a manner herein provided and (b) any Holder fails to receive such notice or a Holder receives such notice but it is defective, such Holder’s failure to
receive such notice or such defect shall not affect the validity of the proceedings for the purchase of the Notes as to all other Holders that properly received such notice without defect. The Issuers shall 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 or regulations are applicable in connection with the repurchase of Notes pursuant to a Change of Control Offer. To the extent that the provisions
of any securities laws or regulations conflict with the provisions of this Indenture, the Issuers shall comply with the applicable securities laws and regulations and shall not be deemed to have breached their obligations under this Indenture by
virtue thereof. 
 (b) On the Change of Control Payment Date, the Issuers shall, to the extent permitted by law, 

(1) accept for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer;

 (2) deposit with the Paying Agent an amount equal to the aggregate Change of Control Payment in respect of all
Notes or portions thereof so tendered; and 
 (3) deliver, or cause to be delivered, to the Trustee for
cancellation the Notes so accepted together with an Officer’s Certificate to the Trustee stating that such Notes or portions thereof have been tendered to and purchased by the Issuers. 

(c) The Issuers shall not be required to make a Change of Control Offer following a Change of Control if 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 Indenture applicable to a Change of Control Offer made by the Issuers and purchases all Notes validly tendered and not withdrawn under
such Change of Control Offer. Notwithstanding anything to the contrary herein, a Change of Control Offer may be made in advance of a Change of Control, conditional upon such Change of Control, if a definitive agreement is in place for the Change of
Control at the time of making of the Change of Control Offer. 
 (d) Other than as specifically provided in this
Section 4.14, any purchase pursuant to this Section 4.14 shall be made pursuant to the provisions of Sections 3.02, 3.05 and 3.06 hereof, and references therein to “redeem,” “redemption” and similar words shall be
deemed to refer to “purchase,” “repurchase” and similar words, as applicable. 
 SECTION 4.15.
Limitation on Guarantees of Indebtedness by Restricted Subsidiaries. The Company will not permit any of its Wholly-Owned Subsidiaries that are Restricted Subsidiaries (and non-Wholly-Owned Subsidiaries if such non-Wholly-Owned Subsidiaries
guarantee other capital markets debt securities of the Company, the Co-Issuer or any Guarantor), other than the Co-Issuer, a Guarantor, a Foreign Subsidiary or a Securitization Subsidiary, to guarantee the payment of any Indebtedness of the Company,
the Co-Issuer or any other Guarantor unless: 
 (1) such Restricted Subsidiary within 30 days executes and
delivers a supplemental indenture to this Indenture, the form of which is attached as Exhibit D hereto, providing for a Guarantee by such Restricted Subsidiary, except that with respect to a guarantee of Indebtedness of the Company, the
Co-Issuer or any Guarantor, 

  
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 (A) if the Notes or such Guarantor’s Guarantee are subordinated in
right of payment to such Indebtedness, the Guarantee under the supplemental indenture shall be subordinated to such Restricted Subsidiary’s guarantee with respect to such Indebtedness substantially to the same extent as the Notes are
subordinated to such Indebtedness; and 
 (B) if such Indebtedness is by its express terms subordinated in right
of payment to the Notes or such Guarantor’s Guarantee, any such guarantee by such Restricted Subsidiary with respect to such Indebtedness shall be subordinated in right of payment to such Guarantee substantially to the same extent as such
Indebtedness is subordinated to the Notes; 
 (2) such Restricted Subsidiary waives, and shall 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 Restricted Subsidiary under its
Guarantee or otherwise; and 
 (3) such Restricted Subsidiary shall deliver to the Trustee an Opinion of Counsel
to the effect that: 
 (A) such Guarantee has been duly executed and authorized; and 

(B) such Guarantee constitutes a valid, binding and enforceable obligation of such Restricted Subsidiary, except insofar
as enforcement thereof may be limited by bankruptcy, insolvency or similar laws (including, without limitation, all laws relating to fraudulent transfers) and except insofar as enforcement thereof is subject to general principles of equity;

 provided that this covenant shall not be applicable to (i) any guarantee of any Restricted Subsidiary that existed
at the time such Person became a Restricted Subsidiary and was not incurred in connection with, or in contemplation of, such Person becoming a Restricted Subsidiary and (ii) guarantees of any Qualified Securitization Facility by any
Securitization Subsidiary. 
 SECTION 4.16. Distributions by Qualified Restricted Subsidiaries  

Except to the extent restricted pursuant to any Permitted Payment Restrictions, the Company shall, and shall cause each Restricted
Subsidiary to, cause each Qualified Restricted Subsidiary (that is not the Co-Issuer or a Guarantor) to declare and pay regular monthly, quarterly or semiannual dividends or distributions to the holders of its Capital Stock in an amount equal to
substantially all of the available cash flow of such Restricted Subsidiary for such period as determined in good faith by the board of directors, board of governors or such 

  
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other individuals performing similar functions, subject to such ordinary and customary reserves and other amounts as, in the good faith judgment of such individuals, may be necessary so that the
business of such Restricted Subsidiary may be properly and advantageously conducted at all times. 
 If, at any time, any
Restricted Subsidiary would fail to meet the requirements set forth in the definition of “Qualified Restricted Subsidiary,” it will thereafter cease to be a Qualified Restricted Subsidiary for purposes of this Indenture and any
Indebtedness of such Subsidiary will be deemed to be incurred by a Restricted Subsidiary that is not a Qualified Restricted Subsidiary as of such date and, if such Indebtedness is not permitted to be incurred as of such date under Section 4.09
hereof, the Company will be in default of such covenant. The board of directors of the Company may at any time designate any Restricted Subsidiary not to be a Qualified Restricted Subsidiary; provided that such designation will be deemed to
be an incurrence of Indebtedness by such Restricted Subsidiary of any outstanding Indebtedness of such Restricted Subsidiary, and such designation will only be permitted if (1) such Indebtedness is permitted under Section 4.09 hereof, and
(2) no Default or Event of Default would be in existence following such designation. In the event (a) a Restricted Subsidiary fails to meet the requirements to be a Qualified Restricted Subsidiary or (b) the board of directors of the
Company designates a Qualified Restricted Subsidiary not to be a Restricted Subsidiary, then all Investments in such Subsidiary since the Issue Date shall be deemed to have been acquired and consequently reduce the amount available for Restricted
Payments under Section 4.07 hereof or the amount available for Restricted Investments under clause (13) or (22) of the definition of “Permitted Investments,” as determined by the Company. 

SECTION 4.17. Corporate Co-Issuer  
 The Company will always maintain a Wholly-Owned Subsidiary of the Company organized as a corporation under the laws of the United States of America, any state thereof or the District of Columbia that will
serve as a co-issuer of the Notes unless the Company is itself a corporation under the laws of the United States of America, any state thereof or the District of Columbia. 
 In addition to the other restrictions set forth in this Indenture, the Co-Issuer may not hold any material assets, become liable for any material obligations or engage in any significant business
activities; provided that the Co-Issuer may be a co-obligor with respect to Indebtedness if the Company is an obligor of such Indebtedness and the net proceeds of such Indebtedness are received by the Company or one or more Restricted
Subsidiaries other than the Co-Issuer. 
 SECTION 4.18. Suspension of Covenants. 

(a) During any period of time that (i) the Notes have Investment Grade Ratings from both Rating Agencies and (ii) no Default
has occurred and is continuing under this Indenture (the occurrence of the events described in the foregoing clauses (i) and (ii) being collectively referred to as a “Covenant Suspension Event” and the date thereof being
referred to as the “Suspension Date”) then, Section 4.07 hereof, Section 4.08 hereof, Section 4.09 hereof, Section 4.10 hereof, Section 4.11 hereof, Section 4.14 hereof, Section 4.15 hereof,
Section 4.16 hereof, Section 4.19 hereof and clause (4) of Section 5.01(a) hereof shall not be applicable to the Notes (collectively, the “Suspended Covenants”). 

  
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 (b) During any period that the foregoing covenants have been suspended, the Company may not
designate any of its Subsidiaries as Unrestricted Subsidiaries pursuant to the second sentence of the definition of “Unrestricted Subsidiary.” 
 (c) In the event that the Company and its Restricted Subsidiaries are not subject to the Suspended Covenants under this Indenture for any period of time as a result of the foregoing, and on any subsequent
date (the “Reversion Date”) one or both of the Rating Agencies withdraw their Investment Grade Rating or downgrade the rating assigned to the Notes below an Investment Grade Rating, then the Company and its Restricted Subsidiaries
will thereafter again be subject to the Suspended Covenants under this Indenture with respect to future events. The period of time between the Suspension Date and the Reversion Date is referred to in this Section 4.18 as the “Suspension
Period.” The Guarantees of the Guarantors will be suspended during the Suspension Period but will be reinstated on the Reversion Date. Additionally, upon the occurrence of a Covenant Suspension Event, the amount of Excess Proceeds from Net
Proceeds shall be reset to zero. 
 (d) Notwithstanding the foregoing, in the event of any such reinstatement, no action taken
or omitted to be taken by the Company or any of its Restricted Subsidiaries prior to such reinstatement will give rise to a Default or Event of Default under this Indenture with respect to the Notes; provided that (1) with respect to
Restricted Payments made after such reinstatement, the amount available to be made as Restricted Payments will be calculated as though Section 4.07 hereof had been in effect prior to, but not during, the Suspension Period; and (2) all
Indebtedness incurred, or Disqualified Stock issued, during the Suspension Period will be classified to have been incurred or issued pursuant to clause (3) of Section 4.09(b) hereof. 

(e) The Issuers shall deliver promptly to the Trustee an Officer’s Certificate of the Issuers notifying it of any event set forth
under this Section 4.18. 
 SECTION 4.19. Limitation on Layering. 

Notwithstanding anything to the contrary, the Company, the Co-Issuer or any Guarantor will not, directly or indirectly, incur any
Indebtedness (including Acquired Indebtedness) that is subordinated in right of payment to any Senior Indebtedness of the Company, the Co-Issuer or such Guarantor, as applicable, unless such Indebtedness is either: 

(1) equal in right of payment with the Notes or such Guarantor’s Guarantee, as applicable; or 

(2) expressly subordinated in right of payment to the Notes or such Guarantor’s Guarantee, as applicable be. 

For the purposes of this Indenture, Indebtedness that is unsecured is not deemed to be subordinated or junior to Secured Indebtedness
merely because it is unsecured, and Senior Indebtedness is not deemed to be subordinated or junior to any other Senior Indebtedness merely because it has a junior priority with respect to the same collateral. 

  
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 ARTICLE V  
 SUCCESSORS 
 SECTION 5.01. Merger, Consolidation or Sale of All or
Substantially All Assets. 
 (a) The Company may not consolidate or merge with or into or wind up into (whether or not the
Company is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets, in one or more related transactions, to any Person unless: 

(1) the Company is the surviving Person or the Person formed by or surviving any such consolidation or merger (if other
than the Company) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made, is a Person organized or existing under the laws of the United States, any state thereof, the District of Columbia, or any
territory thereof (such Person, as the case may be, being herein called the “Successor Company”); provided that in the case where the surviving Person is not a corporation, a co-obligor of the Notes is a corporation;

 (2) the Successor Company, if other than the Company, expressly assumes all the obligations of the Company
under the Notes pursuant to supplemental indentures or other documents or instruments; 
 (3) immediately after
such transaction, no Default exists; 
 (4) immediately after giving pro forma effect to such
transaction and any related financing transactions, as if such transactions had occurred at the beginning of the applicable four-quarter period, 
 (A) the Successor Company or the Company would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Test, or 

(B) the Fixed Charge Coverage Ratio for the Company would be equal to or greater than the Fixed Charge Coverage Ratio for
the Company immediately prior to such transaction; 
 (5) each Guarantor, unless it is the other party to the
transactions described above, in which case clause (1)(B) of Section 5.01(c) hereof shall apply, shall have by supplemental indenture confirmed that its Guarantee shall apply to such Person’s obligations under this Indenture and the
Notes; and 
 (6) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of
Counsel, each stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this Indenture. 

  
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 (b) The Successor Company will succeed to, and be substituted for the Company under this
Indenture, the Guarantees and the Notes, as applicable. Notwithstanding clauses (3) and (4) of Section 5.01(a) hereof, 
 (1) any Restricted Subsidiary may consolidate with or merge into or transfer all or part of its properties and assets to the Company, and 

(2) the Company may merge with an Affiliate of the Company solely for the purpose of reincorporating the Company in the
United States, the District of Columbia or any territory thereof so long as the amount of Indebtedness of the Company and its Restricted Subsidiaries is not increased thereby. 
 (c) Subject to Section 11.06 hereof, no Guarantor will, and the Company will not permit any Guarantor to, consolidate or merge with or into or wind up into (whether or not such Guarantor is the
surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets, in one or more related transactions, to any Person unless: 

(1) (A) such Guarantor is the surviving Person or the Person formed by or surviving any such consolidation or merger (if
other than such Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a Person organized or existing under the laws of the jurisdiction of organization of such Guarantor, as applicable,
or the laws of the United States, any state thereof, the District of Columbia, or any territory thereof (such Person being herein called the “Successor Person”); 

(B) the Successor Person, if other than such Guarantor, expressly assumes all the obligations of such Guarantor under this
Indenture and such Guarantor’s related Guarantee pursuant to supplemental indentures or other documents or instruments; 
 (C) immediately after such transaction, no Default exists; and 

(D) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating
that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this Indenture; or 
 (2) the transaction is made in compliance with Section 4.10 hereof. 
 (d)
Subject to Section 11.06 hereof, the Successor Person will succeed to, and be substituted for, such Guarantor under this Indenture and such Guarantor’s Guarantee. Notwithstanding the foregoing, any Guarantor may (1) merge into or
transfer all or part of its properties and assets to another Guarantor, the Company or the Co-Issuer, (2) merge with an Affiliate of the Company solely for the purpose of reincorporating the Guarantor in the United States, any state thereof,
the District of Columbia or any territory thereof so long as the amount of Indebtedness of the Company and its Restricted Subsidiaries is not increased thereby or (3) convert into a corporation, partnership, limited partnership, limited
liability corporation or trust organized or existing under the laws of the jurisdiction of organization of such Guarantor. 

  
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 (e) Notwithstanding anything to the contrary, the Merger shall be permitted without
compliance with this Section 5.01. 
 SECTION 5.02. 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 or a Guarantor in accordance with Section 5.01 hereof, the successor Person formed by such
consolidation or into or with which the Company or such Guarantor, as applicable, 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 or such Guarantor, as applicable, shall refer instead to the successor Person and not to the Company or
such Guarantor, as applicable), and may exercise every right and power of the Company or such Guarantor, as applicable, under this Indenture with the same effect as if such successor Person had been named as the Company or a Guarantor, as
applicable, herein; provided 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, assignment, transfer, conveyance or other disposition of all
of the Company’s assets that meets the requirements of Section 5.01 hereof. 
 ARTICLE VI  

DEFAULTS AND REMEDIES 
 SECTION 6.01. Events of Default. 
 An “Event of
Default”, wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or
order of any court or any order, rule or regulation of any administrative or governmental body): 
 (1) default
in payment when due and payable, upon redemption, acceleration or otherwise, of principal of, or premium, if any, on the Notes (whether or not prohibited by the subordination provisions of this Indenture); 

(2) default for 30 days or more in the payment when due of interest on or with respect to the Notes (whether or not
prohibited by the subordination provisions of this Indenture); 
 (3) failure by the Company, the Co-Issuer or
any Guarantor for 60 days after receipt of written notice given by the Trustee or the Holders of not less than 30.0% in principal amount of the then outstanding Notes to comply with any of its obligations, covenants or agreements (other than a
default referred to in clause (1) or (2) above) contained in this Indenture or the Notes; 

  
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 (4) default under any mortgage, indenture or instrument under which there is
issued or by which there is 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, other than
Indebtedness owed to the Company or a Restricted Subsidiary, whether such Indebtedness or guarantee now exists or is created after the issuance of the Notes, if both: 

(A) such default either results from the failure to pay any principal of such Indebtedness at its stated final maturity
(after giving effect to any applicable grace periods) or relates to an obligation other than the obligation to pay principal of any such Indebtedness at its stated final maturity and results in the holder or holders of such Indebtedness causing such
Indebtedness to become due prior to its stated maturity; and 
 (B) the principal amount of such Indebtedness,
together with the principal amount of any other such Indebtedness in default for failure to pay principal at stated final maturity (after giving effect to any applicable grace periods), or the maturity of which has been so accelerated, aggregate
$20.0 million or more at any one time outstanding; 
 (5) failure by the Company, the Co-Issuer or any
Significant Subsidiary (or any group of Subsidiaries that together would constitute a Significant Subsidiary) to pay final judgments aggregating in excess of $20.0 million, which final judgments remain unpaid, undischarged and unstayed for a period
of more than 60 days after such judgment becomes final, and in the event such judgment is covered by insurance, an enforcement proceeding has been commenced by any creditor upon such judgment or decree which is not promptly stayed; 

(6) the Company, the Co-Issuer or any of its Subsidiaries that is a Significant Subsidiary (or any group of Subsidiaries
that together would constitute a Significant Subsidiary), pursuant to or within the meaning of any Bankruptcy Law: 
 (i) commences proceedings to be adjudicated bankrupt or insolvent; 

(ii) consents to the institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or
answer or consent seeking reorganization or relief under applicable Bankruptcy Law; 
 (iii) consents to the
appointment of a receiver, liquidator, assignee, trustee, sequestrator or other similar official of it or for all or substantially all of its property; 
 (iv) makes a general assignment for the benefit of its creditors; or 
 (v) generally is not paying its debts as they become due; 

  
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 (7) a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that: 
 (i) is for relief against the Company, the Co-Issuer or any of its Subsidiaries that is a
Significant Subsidiary (or any group of Subsidiaries that, taken together, would constitute a Significant Subsidiary), in a proceeding in which the Company, the Co-Issuer or any such Subsidiary, that is a Significant Subsidiary (or any group of
Subsidiaries that, taken together, would constitute a Significant Subsidiary), is to be adjudicated bankrupt or insolvent; 
 (ii) appoints a receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company, the Co-Issuer or any of its Subsidiaries that is a Significant Subsidiary (or any group of
Subsidiaries that, taken together, would constitute a Significant Subsidiary), or for all or substantially all of the property of the Company, the Co-Issuer or any of its Subsidiaries that is a Significant Subsidiary (or any group of Subsidiaries
that, taken together, would constitute a Significant Subsidiary); or 
 (iii) orders the liquidation of the
Company, the Co-Issuer or any of its Subsidiaries that is a Significant Subsidiary (or any group of Subsidiaries that, taken together, would constitute a Significant Subsidiary); 
 and the order or decree remains unstayed and in effect for 60 consecutive days; or 
 (8) the Guarantee of any Significant Subsidiary (or any group of Subsidiaries that together would constitute a Significant Subsidiary) shall for any reason cease to be in full force and effect or be
declared null and void or any responsible officer of any Guarantor that is a Significant Subsidiary (or the responsible officers of any group of Subsidiaries that together would constitute a Significant Subsidiary), as the case may be, denies that
it has any further liability under its Guarantee or gives notice to such effect, other than by reason of the termination of this Indenture or the release of any such Guarantee in accordance with this Indenture. 

SECTION 6.02. Acceleration. If any Event of Default (other than an Event of Default specified in clause (6) or
(7) of Section 6.01 hereof) occurs and is continuing under this Indenture, the Trustee or the Holders of at least 30.0% in principal amount of the then total outstanding Notes may declare the principal, premium, if any, interest and any
other monetary obligations on all the then outstanding Notes to be due and payable immediately; provided that so long as any Indebtedness permitted to be incurred under this Indenture as part of the Senior Credit Facilities shall be
outstanding, no such acceleration shall be effective until the earlier of: 
 (1) acceleration of any such
Indebtedness under the Senior Credit Facilities; or 
 (2) five Business Days after the giving of written notice
of such acceleration to the Issuers and the Representative with respect to the Senior Credit Facilities. 
 Upon the
effectiveness of such declaration, such principal of and premium, if any, and interest shall be due and payable immediately. The Trustee shall have no obligation to accelerate the Notes if, in the best judgment of the Trustee, acceleration is not in
the best interests of the Holders. 

  
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 Notwithstanding the foregoing, in the case of an Event of Default arising under clause
(6) or (7) of Section 6.01 hereof, all outstanding Notes shall be due and payable immediately without further action or notice. 
 The Holders of a majority in aggregate principal amount of the then outstanding Notes by written notice to the Trustee may on behalf of the Holders of all of the Notes rescind any acceleration with
respect to the Notes and its consequences if such rescission would not conflict with any judgment of a court of competent jurisdiction and if all existing Events of Default (except nonpayment of interest on, premium, if any, or the principal of any
Note held by a non-consenting Holder that has become due solely because of the acceleration) have been cured or waived. 
 In
the event of any Event of Default specified in clause (4) of Section 6.01 hereof, such Event of Default and all consequences thereof (excluding any resulting payment default, other than as a result of acceleration of the Notes) shall be
annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders, if within 20 days after such Event of Default arose: 
 (1) the Indebtedness or guarantee that is the basis for such Event of Default has been discharged; or 
 (2) holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default; or 

(3) the default that is the basis for such Event of Default has been cured. 

SECTION 6.03. 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 6.04. Waiver of Past Defaults. Subject to Section 6.02 hereof, Holders of not less than 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 and its consequences hereunder (except a continuing Default in the payment of the principal of,
premium, if any, or interest on, any Note held by a non-consenting Holder) (including in connection with an Asset Sale Offer or a Change of Control Offer). 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. 

  
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 SECTION 6.05. Control by Majority. Holders of a majority in principal amount of
the then total outstanding Notes may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any
direction that conflicts with law or this Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder of a Note or that would involve the Trustee in personal liability. 

SECTION 6.06. Limitation on Suits. Subject to Section 6.07 hereof, no Holder of a Note may pursue any remedy with
respect to this Indenture or the Notes unless: 
 (1) such Holder has previously given the Trustee notice that an
Event of Default is continuing; 
 (2) Holders of at least 30.0% in principal amount of the total outstanding
Notes have requested the Trustee to pursue the remedy; 
 (3) Holders of the Notes have offered the Trustee
reasonable security or indemnity against any loss, liability or expense; 
 (4) the Trustee has not complied with
such request within 60 days after the receipt thereof and the offer of security or indemnity; and 
 (5) Holders
of a majority in principal amount of the total outstanding Notes have not given the Trustee a direction inconsistent with such request within such 60-day period. 
 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 6.07. 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 of, premium, if any, and interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an Asset Sale Offer or a Change of Control Offer), or to
bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 
 SECTION 6.08. Collection Suit by Trustee. If an Event of Default specified in Section 6.01(1) or (2) 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 Issuers for the whole amount of principal of, premium, 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 6.09. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any
right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any

  
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determination in such proceedings, the Issuers, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies
of the Trustee and the Holders shall continue as though no such proceeding has been instituted. 
 SECTION 6.10. Rights
and Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in Section 2.07 hereof, no right or remedy herein conferred upon or reserved to the Trustee or to
the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law
or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

SECTION 6.11. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Note to exercise any
right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the
Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 SECTION 6.12. 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 Notes allowed in any judicial proceedings relative to the Issuers (or any
other obligor upon the Notes including the Guarantors), its creditors or its property and shall be entitled and empowered to participate as a member in any official committee of creditors appointed in such matter and 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 7.07 hereof. 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 7.07 hereof 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. 

  
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 SECTION 6.13. Priorities. If the Trustee or any Agent collects any money
pursuant to this Article VI, it shall pay out the money in the following order: 
 (i) to the Trustee, such
Agent, their agents and attorneys for amounts due under Section 7.07 hereof, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee or such Agent and the costs and expenses of collection;

 (ii) to holders of Senior Indebtedness of the Issuers, and if such money or property has been collected from a
Guarantor, to holders of Senior Indebtedness of such Guarantor, in each case to the extent required by Article X or Article XII hereof, as applicable; 
 (iii) 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 
 (iv) to the Issuers or to
such party as a court of competent jurisdiction shall direct including a Guarantor, if applicable. 
 The Trustee may fix a record date and
payment date for any payment to Holders of Notes pursuant to this Section 6.13. 
 SECTION 6.14. 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, 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 6.14 does not apply to a suit by the Trustee, a suit by a Holder of a Note pursuant to Section 6.07 hereof, or a suit by Holders of more than 10.0% in principal amount of
the then outstanding Notes. 
 ARTICLE VII  
 TRUSTEE 
 SECTION 7.01. Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, 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 its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default: 

(i) the duties of the Trustee shall be determined solely by the express provisions of this Indenture and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

  
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 (ii) 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. However, in the case of any such certificates
or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture. 

(c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that: 
 (i) this paragraph does not limit the effect of paragraph (b) of this
Section 7.01; 
 (ii) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it is proved in a court of competent jurisdiction that the Trustee was negligent in ascertaining the pertinent facts; and 
 (iii) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.02, 6.04 or 6.05 hereof.

 (d) Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is
subject to paragraphs (a), (b) and (c) of this Section 7.01. 
 (e) The Trustee shall be under no obligation to
exercise any of its rights or powers under this Indenture at the request or direction of any of the Holders of the Notes unless the Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense.

 (f) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with
the Issuers. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

SECTION 7.02. Rights of Trustee. 
 (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated
in the document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, 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 and its Subsidiaries, personally or by agent or attorney at the sole cost of the Issuers and shall incur no liability or additional liability of any kind by reason of such inquiry or
investigation. 

  
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 (b) Before the Trustee acts or refrains from acting, it may require an Officer’s
Certificate of the Issuers or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. The Trustee may consult with
counsel of its selection and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in
reliance thereon. 
 (c) The Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or
negligence of any agent or attorney appointed with due care. 
 (d) The Trustee shall not be liable for any action it takes or
omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture. 
 (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Issuers shall be sufficient if signed by an Officer of the Issuers. 

(f) None of the provisions of this Indenture shall require the Trustee to expend or risk its own funds or otherwise to incur any
liability, financial or otherwise, 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. 
 (g) The Trustee shall not be deemed to have notice of any Default or
Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a Default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice
references the Notes and this Indenture. 
 (h) In no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

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

(j) Delivery of 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). 
 (k) The permissive rights of the Trustee to take certain actions under
this Indenture shall not be construed as a duty unless so specified herein. 

  
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 SECTION 7.03. Individual Rights of Trustee. The Trustee in its individual or any
other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuers or any Affiliate of the Company or the Co-Issuer with the same rights it would have if it were not Trustee. However, in the event that the Trustee
acquires any conflicting interest it must eliminate such conflict within 90 days or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof. 

SECTION 7.04. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the
validity or adequacy of this Indenture or the Notes, it shall not be accountable for the Issuers’ use of the proceeds from the Notes or any money paid to the Issuers or upon the Issuers’ direction under any provision of this Indenture, it
shall not be responsible for the use or application of any money received by any Paying Agent other than the Trustee, and it shall not be responsible for any statement or recital herein or any statement in the Notes or any other document in
connection with the sale of the Notes or pursuant to this Indenture other than its certificate of authentication. 

SECTION 7.05. Notice of Defaults. If a Default occurs and is continuing and if it is known to the Trustee, the Trustee shall
deliver to Holders of Notes a notice of the Default within 90 days after it occurs. Except in the case of a Default relating to the payment of principal, premium, if any, or interest on any Note, the Trustee may withhold from the Holders notice of
any continuing Default if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the Holders of the Notes. 

SECTION 7.06. [Reserved]. 
 SECTION 7.07. Compensation and Indemnity. The Issuers shall pay to the Trustee from time to time such compensation for its acceptance of this Indenture and services hereunder as the parties
shall agree in writing from time to time. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuers shall reimburse the Trustee promptly upon request for all reasonable
disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses shall include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 

The Company, the Co-Issuer and the Guarantors, jointly and severally, shall indemnify the Trustee and its officers, directors, employees,
agents and any predecessor trustee and its officers, directors, employees and agents for, and hold the Trustee harmless against, any and all loss, damage, claims, liability or expense (including attorneys’ fees) incurred by it in connection
with the acceptance or administration of this trust and the performance of its duties hereunder (including the costs and expenses of enforcing this Indenture against the Company, the Co-Issuer or any of the Guarantors (including this
Section 7.07) or defending itself against any claim whether asserted by any Holder, the Company, the Co-Issuer or any Guarantor, or liability in connective with the acceptance, exercise or performance of any of its powers or duties hereunder).
The Trustee shall notify the Issuers promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Issuers shall not relieve the Issuers of their obligations hereunder. The Issuers shall defend the claim and the
Trustee may have separate counsel and the Issuers shall pay the fees and expenses of such counsel. The Issuers need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own
willful misconduct, negligence or bad faith. 

  
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 The obligations of the Issuers under this Section 7.07 shall survive the satisfaction
and discharge of this Indenture or the earlier resignation or removal of the Trustee. 
 To secure the payment obligations of
the Company, the Co-Issuer and the Guarantors in this Section 7.07, the Trustee shall have a Lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal and interest on
particular Notes. Such Lien shall survive the satisfaction and discharge of this Indenture. 
 When the Trustee incurs expenses
or renders services after an Event of Default specified in Section 6.01(6) or (7) hereof occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute
expenses of administration under any Bankruptcy Law. 
 SECTION 7.08. Replacement of Trustee. A resignation or
removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.08. The Trustee may resign in writing at any time and be
discharged from the trust hereby created by so notifying the Issuers. The Holders of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing. The Issuers may remove
the Trustee if: 
 (A) the Trustee fails to comply with Section 7.10 hereof; 

(B) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under
any Bankruptcy Law; 
 (C) a custodian or public officer takes charge of the Trustee or its property; or

 (D) the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers shall promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers.

 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring
Trustee (at the Issuers’ expense), the Issuers or the Holders of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with Section 7.10
hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

  
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 A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Issuers. Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall
deliver a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien
provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. 

SECTION 7.09. Successor Trustee by Merger, etc. If the Trustee consolidates, merges or converts into, or transfers all or
substantially all of its corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee. 
 SECTION 7.10. Eligibility; Disqualification. There shall at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of America
or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has, together with its parent, a combined capital and surplus of
at least $50,000,000 as set forth in its most recent published annual report of condition. 
 ARTICLE VIII  

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 
 SECTION 8.01. Option to Effect Legal Defeasance or Covenant Defeasance. The Issuers may, at their option and at any time, elect to have either Section 8.02 or 8.03 hereof applied to all
outstanding Notes and all obligations of the Guarantors with respect to the Guarantees upon compliance with the conditions set forth below in this Article VIII. 
 SECTION 8.02. Legal Defeasance and Discharge. Upon the Issuers’ exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Issuers and the Guarantors
shall, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from their obligations with respect to all outstanding Notes and Guarantees on the date the conditions set forth below are
satisfied (“Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuers and the Guarantors 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 to have satisfied all its other obligations under such Notes and this Indenture including that of the Guarantors (and the Trustee, on demand of
and at the expense of the Issuers, 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 Notes to receive payments in respect of the principal of, premium, if any, and interest on
the Notes when such payments are due solely out of the trust created pursuant to this Indenture referred to in Section 8.04 hereof; 

  
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 (B) the Issuers’ obligations with respect to Notes concerning issuing
temporary Notes, registration of such Notes, mutilated, destroyed, lost or stolen Notes and the maintenance of an office or agency for payment and money for security payments held in trust; 

(C) the rights, powers, trusts, duties and immunities of the Trustee, and the Issuers’ and the Guarantors’
obligations in connection therewith; and 
 (D) this Section 8.02. 

Subject to compliance with this Article VIII, the Issuers may exercise their option under this Section 8.02 notwithstanding the prior exercise of
its option under Section 8.03 hereof. 
 SECTION 8.03. Covenant Defeasance. Upon the Issuers’ exercise
under Section 8.01 hereof of the option applicable to this Section 8.03, the Issuers and the Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from their obligations under
the covenants contained in Sections 4.03, 4.04, 4.05, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16 and 4.19 hereof and clauses (4) and (5) of Section 5.01(a), Sections 5.01(c) and 5.01(d) hereof with respect to the
outstanding Notes on and after the date the conditions set forth in Section 8.04 hereof are satisfied (“Covenant Defeasance”), 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 and the Guarantees, the Issuers and the Guarantors 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 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes and
Guarantees shall be unaffected thereby. In addition, upon the Issuers’ 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 6.01(3) (solely with respect to the covenants that are released upon a Covenant Defeasance), 6.01(4), 6.01(5), 6.01(6) (solely with respect to Subsidiaries other than the Co-Issuer), 6.01(7) (solely with respect to
Subsidiaries other than the Co-Issuer) and 6.01(8) hereof shall not constitute Events of Default. 
 SECTION 8.04.
Conditions to Legal 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: 

  
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 In order to exercise either Legal Defeasance or Covenant Defeasance with respect to the
Notes: 
 (1) the Issuers must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders of
the Notes, cash in U.S. dollars, U.S. dollar-denominated Government Securities, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal
of, premium, if any, and interest due on the Notes on the stated maturity date or on the Redemption Date, as the case may be, of such principal, premium, if any, or interest on such Notes and the Issuers must specify whether such Notes are being
defeased to maturity or to a particular Redemption Date. 
 (2) in the case of Legal Defeasance, the Issuers
shall have delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that, subject to customary assumptions and exclusions, 
 (A) the Issuers have received from, or there has been published by, the United States Internal Revenue Service a ruling, or 

(B) since the issuance of the Notes, there has been a change in the applicable U.S. federal income tax law, 

in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, subject to customary assumptions and exclusions, the
Holders of the Notes will not recognize income, gain or loss for U.S. federal income tax purposes, as applicable, as a result of such Legal Defeasance and will be subject to U.S. 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; 
 (3) in the case of Covenant
Defeasance, the Issuers shall have delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that, subject to customary assumptions and exclusions, the Holders of the Notes will not recognize income, gain or loss
for U.S. federal income tax purposes as a result of such Covenant Defeasance and will be subject to such 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;

 (4) no Default (other than that resulting from borrowing funds to be applied to make such deposit and any
similar and simultaneous deposit relating to other Indebtedness and, in each case, the granting of Liens in connection therewith) shall have occurred and be continuing on the date of such deposit and such deposit is not prohibited by Article X or
XII hereof; 
 (5) such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or
constitute a default under, the Senior Credit Facilities, the Senior Notes, the Senior Indenture or any other material agreement or instrument (other than this Indenture) to which the Company, the Co-Issuer or any Guarantor is a party or by which
the Company, the Co-Issuer or any Guarantor is bound; 
 (6) the Issuers shall have delivered to the Trustee an
Opinion of Counsel to the effect that, as of the date of such opinion and subject to customary assumptions and exclusions following the deposit, the trust funds will not be subject to the effect of Section 547 of Title 11 of the United States
Code; 

  
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 (7) the Issuers shall have delivered to the Trustee an Officer’s
Certificate stating that the deposit was not made by the Issuers with the intent of defeating, hindering, delaying or defrauding any creditors of the Company, the Co-Issuer or any Guarantor or others; and 

(8) the Issuers shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel (which Opinion
of Counsel may be subject to customary assumptions and exclusions) each stating that all conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance, as the case may be, have been complied with. 

SECTION 8.05. Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions. Subject to
Section 8.06 hereof, all money and Government Securities (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, the Co-Issuer or a Guarantor 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 and interest, but such money need not
be segregated from other funds except to the extent required by law. Money and Government Securities so held in trust are not subject to Article X or XII hereof. 
 The Issuers shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or Government Securities 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 VIII to the contrary notwithstanding, the Trustee shall deliver or pay to the Issuers from time to time upon the request of the Issuers any money or Government Securities held by
it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion 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 Issuers. Subject to any applicable abandoned property law, any money deposited with the Trustee or any Paying Agent, or then held by the Issuers, 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 Issuers on its request or (if then
held by the Issuers) shall be discharged from such trust; and the Holder of such Note shall thereafter look only to the Issuers for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all
liability of the Issuers as trustee thereof, shall thereupon cease. 

  
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 SECTION 8.07. Reinstatement. If the Trustee or Paying Agent is unable to apply
any United States dollars or Government Securities 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 Issuers’ and the Guarantors’ obligations under this Indenture and the Notes and the Guarantees 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 money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided that, if the Issuers make any payment of principal of, premium, if any, or
interest on any Note following the reinstatement of its obligations, the Issuers shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

ARTICLE IX  

AMENDMENT, SUPPLEMENT AND WAIVER 
 SECTION 9.01. Without Consent of Holders of Notes. Notwithstanding Section 9.02 hereof, the Issuers, the Guarantors and the Trustee may amend or supplement this Indenture and any
Guarantee or Notes without the consent of any Holder: 
 (1) to cure any ambiguity, omission, mistake, defect or
inconsistency; 
 (2) to provide for uncertificated Notes in addition to or in place of certificated Notes;

 (3) to comply with Section 5.01 hereof; 

(4) to provide the assumption of the Company’s, the Co-Issuer’s or any Guarantor’s obligations to the
Holders; 
 (5) to make any change that would provide any additional rights or benefits to the Holders or that
does not adversely affect the legal rights under this Indenture of any such Holder; 
 (6) to add covenants for
the benefit of the Holders or to surrender any right or power conferred upon the Company, the Co-Issuer or any Guarantor; 
 (7) to evidence and provide for the acceptance and appointment under this Indenture of a successor Trustee hereunder pursuant to the requirements hereof; 

(8) to add a Guarantor under this Indenture; 

(9) to conform the text of this Indenture, Guarantees or the Notes to any provision of the “Description of Senior
Subordinated Notes” section of the Offering Circular to the extent that such provision in such “Description of Senior Subordinated Notes” section was intended to be a verbatim recitation of a provision of this Indenture, Guarantee or
Notes; or 

  
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 (10) to make any amendment to the provisions of this Indenture relating to
the transfer and legending of Notes as permitted by this Indenture, including, without limitation, to facilitate the issuance and administration of the Notes; provided that (a) compliance with this Indenture as so amended would not
result in Notes being transferred in violation of the Securities Act or any applicable securities law and (b) such amendment does not materially and adversely affect the rights of Holders to transfer Notes. 

Upon the request of the Issuers accompanied by a resolution of the board of directors of the Company authorizing the execution of any
such amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee shall join with the Company and the Guarantors 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 have the right, but not be obligated to, enter into such amended or
supplemental indenture that affects its own rights, duties or immunities under this Indenture or otherwise. Notwithstanding the foregoing, neither an Opinion of Counsel nor an Officer’s Certificate shall be required in connection with the
addition of a Guarantor under this Indenture (other than as required by Section 4.15 hereof) upon execution and delivery by such Guarantor and the Trustee of a supplemental indenture to this Indenture, the form of which is attached as
Exhibit D hereto. 
 SECTION 9.02. With Consent of Holders of Notes. Except as provided below in this
Section 9.02, the Issuers, the Guarantors and the Trustee may amend or supplement this Indenture, the Notes and the Guarantees with the consent of the Holders of at least a majority in principal amount of the Notes (including Additional Notes,
if any) then outstanding voting as a single class (including consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes), and, subject to Sections 6.04 and 6.07 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, or interest on the Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of
this Indenture, the Guarantees or the Notes may be waived with the consent of the Holders of a majority in principal amount of the then outstanding Notes (including Additional Notes, if any) voting as a single class (including consents obtained in
connection with a tender offer or exchange offer for, or purchase of, the Notes). Section 2.08 hereof and Section 2.09 hereof shall determine which Notes are considered to be “outstanding” for the purposes of this
Section 9.02. 
 Upon the request of the Issuers accompanied by a resolution of the board of directors of the Company
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 7.02 hereof, the Trustee shall join with the Issuers and the Guarantors 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. 

  
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 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 9.02 becomes effective, the Issuers shall deliver to the Holders of Notes affected thereby a notice briefly describing the amendment,
supplement or waiver. Any failure of the Issuers to deliver 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. 

Without the consent of each affected Holder of Notes, an amendment or waiver under this Section 9.02 may not (with respect to any
Notes held by a non-consenting Holder): 
 (1) reduce the principal amount of such Notes whose Holders must
consent to an amendment, supplement or waiver; 
 (2) reduce the principal of or change the fixed final maturity
of any such Note or alter or waive the provisions with respect to the redemption of such Note (other than provisions relating to Section 3.09, Section 4.10 and Section 4.14 hereof) to the extent that any such amendment or waiver does
not have the effect of reducing the principal of or changing the fixed final maturity of any such Note or altering or waiving the provisions with respect to the redemption of such Notes; 

(3) reduce the rate of or change the time for payment of interest on any Note; 

(4) waive a Default in the payment of principal of or premium, if any, or interest 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 Notes and a waiver of the payment default that resulted from such acceleration, or in respect of a covenant or provision contained in this Indenture
or any Guarantee which cannot be amended or modified without the consent of all Holders; 
 (5) make any Note
payable in money other than that stated therein; 
 (6) make any change in the provisions of this Indenture
relating to waivers of past Defaults or the rights of Holders to receive payments of principal of or premium, if any, or interest on the Notes; 
 (7) make any change in these amendment and waiver provisions; 
 (8)
impair the right of any Holder to receive payment of principal of, or premium, if any, or interest on such Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such
Holder’s Notes; 
 (9) make any change in the subordination provisions hereof that would adversely affect
the Holders; or 

  
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 (10) except as expressly permitted by this Indenture, modify any Guarantee
in any manner adverse to the Holders of the Notes. 
 SECTION 9.03. [Reserved]. 

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 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. 
 The Issuers may, but
shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to consent to any amendment, supplement, or waiver. If a record date is fixed, then, notwithstanding the preceding paragraph, those Persons who were
Holders at such record date (or their duly designated proxies), and only such Persons, shall be entitled to consent to such amendment, supplement, or waiver or to revoke any consent previously given, whether or not such Persons continue to be
Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date unless the consent of the requisite number of Holders has been obtained. 

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 Issuers in exchange for all Notes may issue and the Trustee shall, upon receipt of an Authentication Order, 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, etc. The Trustee shall sign any amendment, supplement or waiver
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 Issuers may not sign an amendment, supplement or waiver until the board of directors of
the Company approves it. In executing any amendment, supplement or waiver, the Trustee shall be entitled to receive, upon request, and (subject to Section 7.01 hereof) shall be fully protected in relying upon, in addition to the documents
required by Section 14.04 hereof, 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 and that such amendment, supplement or
waiver is the legal, valid and binding obligation of the Issuers and any Guarantors party thereto, enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions hereof (including
Section 9.03 hereof). Notwithstanding the foregoing, except as required by Section 4.15 hereof, neither an Opinion of Counsel nor an Officer’s Certificate will be required for the Trustee to execute any amendment or supplement adding
a new Guarantor under this Indenture. 

  
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 SECTION 9.07. Payment for Consent. Neither the Company or the Co-Issuer nor any
Affiliate of the Company or the Co-Issuer shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise, to 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 all Holders and is paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such
consent, waiver or agreement. 
 SECTION 9.08. Additional Voting Terms; Calculation of Principal Amount. All Notes
issued under this Indenture shall vote and consent together on all matters (as to which any of such Notes may vote) as one class and no series of Notes will have the right to vote or consent as a separate series on any matter. Determinations as to
whether Holders of the requisite aggregate principal amount of Notes have concurred in any direction, waiver or consent shall be made in accordance with this Article IX and Section 2.14 hereof. 

ARTICLE X 

SUBORDINATION OF NOTES 
 SECTION 10.01. Agreement To Subordinate. The Issuers agree, and each Holder by accepting a Note agrees, that the payment of all Obligations owing in respect of the Notes is subordinated in
right of payment, to the extent and in the manner provided in this Article X, to the prior payment in cash in full of all existing and future Senior Indebtedness of the Company and the Co-Issuer and that the subordination is for the benefit of and
enforceable by the holders of such Senior Indebtedness. The Notes shall in all respects rank pari passu in right of payment with all existing and future Senior Subordinated Indebtedness of the Issuers, and will be senior in right of
payment to all existing and future Subordinated Indebtedness of the Company and the Co-Issuer; and only Indebtedness of the Company and the Co-Issuer that is Senior Indebtedness shall rank senior to the Notes in accordance with the provisions set
forth herein. All provisions of this Article X shall be subject to Section 10.12. 
 SECTION 10.02. Liquidation,
Dissolution, Bankruptcy. Upon any payment or distribution of the assets of the Company or the Co-Issuer to creditors upon a total or partial liquidation or dissolution of the Company or the Co-Issuer or in a reorganization of, or similar
proceeding relating to, either the Company or the Co-Issuer or their respective property: 
 (1) the holders of
Senior Indebtedness of the Issuers shall be entitled to receive payment in full in cash of such Senior Indebtedness before Holders shall be entitled to receive any payment; 

(2) until the Senior Indebtedness of the Issuers is paid in full in cash, any payment or distribution to which Holders
would be entitled but for the subordination provisions of this Indenture shall be made to holders of such Senior Indebtedness as their interests may appear, except that Holders may receive Permitted Junior Securities; and 

(3) if a distribution is made to Holders that, due to the subordination provisions of this Indenture, should not have been
made to them, such Holders will be required to hold it in trust for the holders of Senior Indebtedness of the Issuers and pay it over to them as their interests may appear. 

  
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 SECTION 10.03. Default on Senior Indebtedness of the Company or the Co-Issuer.
The Company or the Co-Issuer shall not pay principal of, premium, if any, or interest on the Notes (or pay any other Obligations relating to the Notes, including fees, costs, expenses, indemnities and rescission or damage claims) or make any deposit
pursuant to Article VIII or Article XIII hereof and may not purchase, redeem or otherwise retire any Notes (collectively, “pay the Notes”) (except in the form of Permitted Junior Securities) if either of the following occurs (a
“Payment Default”): 
 (1) any Obligation on any Designated Senior Indebtedness of the Issuers
is not paid in full in cash when due (after giving effect to any applicable grace period); or 
 (2) any other
default on Designated Senior Indebtedness of the Issuers occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms; 
 unless, in either case, the Payment Default has been cured or waived and any such acceleration has been rescinded or such Designated Senior Indebtedness has been discharged or paid in full in cash;
provided, however, that the Issuers shall be entitled to pay the Notes without regard to the foregoing if the Issuers and the Trustee receive written notice approving such payment from the Representatives of all Designated Senior
Indebtedness with respect to which the Payment Default has occurred and is continuing. 
 During the continuance of any default
(other than a Payment Default) (a “Non-Payment Default”) with respect to any Designated Senior Indebtedness of the Issuers pursuant to which the maturity thereof may be accelerated without further notice (except such notice as may
be required to effect such acceleration) or the expiration of any applicable grace periods, the Issuers shall not pay the Notes (except in the form of Permitted Junior Securities) for a period (a “Payment Blockage Period”)
commencing upon the receipt by the Trustee (with a copy to the Issuers) of written notice (a “Blockage Notice”) of such Non-Payment Default from the Representative of such Designated Senior Indebtedness specifying an election to
effect a Payment Blockage Period and ending 179 days thereafter. The Payment Blockage Period shall end earlier if such Payment Blockage Period is terminated (i) by written notice to the Trustee and the Issuers from the Person or Persons who
gave such Blockage Notice; (ii) because the default giving rise to such Blockage Notice is cured, waived or otherwise no longer continuing; or (iii) because such Designated Senior Indebtedness has been discharged or repaid in full in cash.

 Notwithstanding the provisions described in the immediately preceding paragraph (but subject to the provisions contained in
the first paragraph of this Section 10.03 and Section 10.02 hereof), unless the holders of such Designated Senior Indebtedness or the Representative of such Designated Senior Indebtedness shall have accelerated the maturity of such
Designated Senior Indebtedness, the Issuers shall be entitled to resume paying the Notes after the end of such Payment Blockage Period. The Notes shall not be subject to more than one Payment Blockage Period in any consecutive 360-day period
irrespective of the number of defaults with respect to Designated Senior Indebtedness of the Issuers during such period; provided that if any 

  
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Blockage Notice is delivered to the Trustee by or on behalf of the holders of Designated Senior Indebtedness of the Issuers (other than the holders of Indebtedness under the Senior Credit
Facilities), a Representative of holders of Indebtedness under the Senior Credit Facilities may give another Blockage Notice within such period. However, in no event shall the total number of days during which any Payment Blockage Period or Periods
on the Notes is in effect exceed 179 days in the aggregate during any consecutive 360-day period, and there must be at least 181 days during any consecutive 360-day period during which no Payment Blockage Period is in effect. Notwithstanding the
foregoing, however, no default that existed or was continuing on the date of delivery of any Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Blockage Notice unless such default shall have been waived for a period of
not less than 90 days (it being acknowledged that any subsequent action, or any breach of any financial covenants during the period after the date of delivery of a Blockage Notice, that, in either case, would give rise to a Non-Payment Default
pursuant to any provisions under which a Non-Payment Default previously existed or was continuing shall constitute a new Non-Payment Default for this purpose). 
 SECTION 10.04. Acceleration of Payment of Notes. If payment of the Notes is accelerated because of an Event of Default, the Issuers shall promptly notify the holders of the Designated Senior
Indebtedness of the Issuers or the Representative of such Designated Senior Indebtedness of the acceleration; provided that any failure to give such notice shall have no effect whatsoever on the provisions of this Article X; provided,
further, that so long as there shall remain outstanding Senior Indebtedness under the Senior Credit Facilities, a Blockage Notice with respect to the Senior Credit Facilities may only be given by the respective Representative thereunder
unless otherwise agreed to in writing by the respective requisite lenders named therein. If any Designated Senior Indebtedness is outstanding, neither the Issuers nor any Guarantors may pay the Notes until five Business Days after the
Representatives of all the issues of Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Notes only if this Indenture otherwise permits payment at that time. 

SECTION 10.05. When Distribution Must Be Paid Over. If a distribution is made to Holders that, due to the subordination
provisions of this Article X, should not have been made to them, such Holders are required to hold it in trust for the holders of Senior Indebtedness of the Issuers and pay it over to them as their interests may appear. 

SECTION 10.06. Subrogation. After all Senior Indebtedness of the Issuers is paid in full and until the Notes are paid in
full, Holders shall be subrogated to the rights of holders of such Senior Indebtedness to receive distributions applicable to such Senior Indebtedness. A distribution made under this Article X to holders of such Senior Indebtedness which otherwise
would have been made to Holders is not, as between the Issuers and Holders, a payment by the Issuers on such Senior Indebtedness. 
 SECTION 10.07. Relative Rights. This Article X defines the relative rights of Holders and holders of Senior Indebtedness of the Issuers. Nothing in this Indenture shall: 

(1) impair, as between the Issuers and Holders, the obligation of the Issuers, which is absolute and unconditional, to pay
principal of and interest on the Notes in accordance with their terms; 

  
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 (2) prevent the Trustee or any Holder from exercising its available remedies
upon a Default, subject to the rights of holders of Senior Indebtedness of the Issuers to receive payments or distributions otherwise payable to Holders and such other rights of such holders of Senior Indebtedness as set forth herein; or 

(3) affect the relative rights of Holders and creditors of the Issuers other than their rights in relation to holders of
Senior Indebtedness. 
 SECTION 10.08. Subordination May Not Be Impaired by Issuers. No right of any holder of
Senior Indebtedness of the Issuers to enforce the subordination of the Indebtedness evidenced by the Notes shall be impaired by any act or failure to act by the Issuers or by their failure to comply with this Indenture. 

SECTION 10.09. Rights of Trustee and Paying Agent. Notwithstanding Section 10.03 hereof, the Trustee or any Paying Agent
may continue to make payments on the Notes and shall not be charged with knowledge of the existence of facts that would prohibit the making of any payments unless, not less than five Business Days prior to the date of such payment, a Responsible
Officer of the Trustee receives notice satisfactory to it that payments may not be made under this Article X. The Issuers, the Registrar, the Paying Agent, a Representative or a holder of Senior Indebtedness of the Issuers shall be entitled to give
the notice; provided, however, that, if an issue of Senior Indebtedness of the Issuers has a Representative, only the Representative shall be entitled to give the notice. 

The Trustee in its individual or any other capacity shall be entitled to hold Senior Indebtedness of the Issuers with the same rights it
would have if it were not Trustee. The Registrar and the Paying Agent shall be entitled to do the same with like rights. The Trustee shall be entitled to all the rights set forth in this Article X with respect to any Senior Indebtedness of the
Issuers which may at any time be held by it, to the same extent as any other holder of such Senior Indebtedness; and nothing in Article VII shall deprive the Trustee of any of its rights as such holder. Nothing in this Article X shall apply to
claims of, or payments to, the Trustee under or pursuant to Section 7.07 hereof or any other Section of this Indenture. 

SECTION 10.10. Distribution or Notice to Representative. Whenever any Person is to make a distribution or give a notice to
holders of Senior Indebtedness of the Issuers, such Person shall be entitled to make such distribution or give such notice to their Representative (if any). Any such Representative shall provide its contact information to the Trustee. 

SECTION 10.11. Article X Not To Prevent Events of Default or Limit Right To Accelerate. The failure to make a payment
pursuant to the Notes by reason of any provision in this Article X shall not be construed as preventing the occurrence of a Default. Nothing in this Article X shall have any effect on the right of the Holders or the Trustee to accelerate the
maturity of the Notes. 
 SECTION 10.12. Trust Moneys Not Subordinated. Notwithstanding anything contained herein to
the contrary, payments from money or the proceeds of Government Securities held in trust by the Trustee for the payment of principal of and interest on the Notes pursuant to Article VIII or Article XIII hereof shall not be subordinated to the prior
payment of 

  
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any Senior Indebtedness of the Issuers or subject to the restrictions set forth in this Article X, and none of the Holders shall be obligated to pay over any such amount to the Issuers or any
holder of Senior Indebtedness of the Issuers or any other creditor of the Issuers, provided that the subordination provisions of this Article X or Article XII hereof were not violated at the time the applicable amounts were deposited in trust
pursuant to Article VIII or Article XIII hereof, as the case may be. 
 SECTION 10.13. Trustee Entitled To Rely.
Upon any payment or distribution pursuant to this Article X, 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 10.02 hereof 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 the Representatives of Senior Indebtedness
of the Issuers for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of such Senior Indebtedness and other Indebtedness of the Issuers, the amount thereof or payable thereon, the amount or
amounts paid or distributed thereon and all other facts pertinent thereto or to this Article X. 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 of the Issuers to participate in any payment or distribution pursuant to this Article X, the Trustee shall be entitled to 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 X, and, if such evidence is not furnished,
the Trustee shall be entitled to defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. The provisions of Sections 7.01 and 7.02 hereof shall be applicable to all actions or omissions
of actions by the Trustee pursuant to this Article X. 
 SECTION 10.14. Trustee To Effectuate Subordination. Each
Holder by its acceptance of a Note agrees to be bound by this Article X and authorizes and expressly directs the Trustee, on its behalf, to take such action as may be necessary or appropriate to effectuate the subordination between the Holders and
the holders of Senior Indebtedness of the Issuers as provided in this Article X and appoints the Trustee as attorney-in-fact for any and all such purposes. 
 SECTION 10.15. Trustee Not Fiduciary for Holders of Senior Indebtedness of the Issuers. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness of the
Issuers and shall not be liable to any such holders if it shall mistakenly pay over or distribute to Holders or the Issuers or any other Person, money or assets to which any holders of Senior Indebtedness of the Issuers shall be entitled by virtue
of this Article X or otherwise. 
 SECTION 10.16. Reliance by Holders of Senior Indebtedness of the Issuers on
Subordination Provisions. Each Holder by accepting a Note 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 of the
Issuers, whether such Senior Indebtedness was created or acquired before or after the issuance of the Notes, 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 such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness. 

  
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 Without in any way limiting the generality of the foregoing paragraph, the holders of Senior
Indebtedness of the Issuers may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders, without incurring responsibility to the Trustee or the Holders and without impairing or releasing the subordination
provided in this Article X or the obligations hereunder of the Holders to the holders of the Senior Indebtedness of the Issuers, do any one or more of the following: 

(1) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, Senior Indebtedness
of the Issuers, or otherwise amend or supplement in any manner Senior Indebtedness of the Issuers, or any instrument evidencing the same or any agreement under which Senior Indebtedness of the Issuers is outstanding; 

(2) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior
Indebtedness of the Issuers; 
 (3) release any Person liable in any manner for the payment or collection of
Senior Indebtedness of the Issuers; and 
 (4) exercise or refrain from exercising any rights against the Issuers
and any other Person. 
 ARTICLE XI  
 GUARANTEES 
 SECTION 11.01. Guarantee. Subject to this Article
XI, from and after the consummation of the Merger, each of the Guarantors hereby, jointly and severally, irrevocably and unconditionally, guarantees 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 Issuers hereunder or thereunder, that: (a) the principal of and interest and premium, if any, on the Notes shall 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 Issuers to the Holders or the
Trustee hereunder or thereunder shall be promptly paid in full, all in accordance with the terms hereof and thereof; and (b) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same shall
be promptly paid in full when due in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any amount so guaranteed for whatever reason, the Guarantors shall be
jointly and severally obligated to pay the same immediately. Each Guarantor agrees that this is a guarantee of payment and not a guarantee of collection. 

  
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 The Guarantors hereby agree that their obligations hereunder shall be unconditional,
irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery
of any judgment against the Issuers, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence, presentment, demand of
payment, filing of claims with a court in the event of insolvency or bankruptcy of the Issuers, any right to require a proceeding first against the Issuers, protest, notice and all demands whatsoever and covenants that this Guarantee shall not be
discharged except by full payment of the obligations contained in the Notes and this Indenture. 
 Each Guarantor also agrees to
pay any and all costs and expenses (including reasonable attorneys’ fees) incurred by the Trustee or any Holder in enforcing any rights under this Section 11.01. 
 If any Holder or the Trustee is required by any court or otherwise to return to the Issuers, the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the
Issuers or the Guarantors, any amount paid either to the Trustee or such Holder, this Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. 

Each 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. Each Guarantor further agrees that, as between the Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the
obligations guaranteed hereby may be accelerated as provided in Article VI hereof for the purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed
hereby, and (y) in the event of any declaration of acceleration of such obligations as provided in Article VI hereof, such obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantors for the purpose of
this Guarantee. The Guarantors shall have the right to seek contribution from any nonpaying Guarantor so long as the exercise of such right does not impair the rights of the Holders under the Guarantees. 

Each Guarantee shall remain in full force and effect and continue to be effective should any petition be filed by or against the Issuers
for liquidation, reorganization, should the Issuers become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be appointed for all or any significant part of the Issuers’ assets, and shall, to the
fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment of the Notes are, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any
obligee on the Notes or Guarantees, whether as a “voidable preference,” “fraudulent transfer” or otherwise, all as though such payment had not been made. In the event that any payment or any part thereof, is rescinded, reduced,
restored or returned, the Notes shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. 

  
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 In case any provision of any Guarantee 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. 

Pursuant to the provisions of Article XII hereof, the Guarantee issued by any Guarantor shall be a general unsecured senior subordinated
obligation of such Guarantor and shall be subordinated in right of payment to all existing and future Senior Indebtedness of such Guarantor, if any. 
 Each payment to be made by a Guarantor in respect of its Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind or nature. 

SECTION 11.02. Limitation on Guarantor Liability. Each Guarantor, and by its acceptance of Notes, each Holder, hereby
confirms that it is the intention of all such parties that the Guarantee of 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 Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of each Guarantor 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 such other Guarantor under this Article XI, result in the obligations of such Guarantor under its Guarantee not constituting a fraudulent conveyance or
fraudulent transfer under applicable law. Each Guarantor that makes a payment under its Guarantee shall be entitled upon payment in full of all guaranteed obligations under this Indenture to a contribution from each other Guarantor in an amount
equal to such other Guarantor’s pro rata portion of such payment based on the respective net assets of all the Guarantors at the time of such payment determined in accordance with GAAP. 

SECTION 11.03. Execution and Delivery. To evidence its Guarantee set forth in Section 11.01 hereof, each Guarantor
hereby agrees that this Indenture shall be executed on behalf of such Guarantor by its President, one of its Vice Presidents or one of its Assistant Vice Presidents. 
 Each Guarantor hereby agrees that its Guarantee set forth in Section 11.01 hereof shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such
Guarantee on the Notes. 
 If an Officer whose signature is on this Indenture no longer holds that office at the time the
Trustee authenticates the Note, the Guarantee shall be valid nevertheless. 
 The delivery of any Note by the Trustee, after the
authentication thereof hereunder, shall constitute due delivery of the Guarantee set forth in this Indenture on behalf of the Guarantors. 

  
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 If required by Section 4.15 hereof, the Company shall cause any newly created or
acquired or other Restricted Subsidiary to comply with the provisions of Section 4.15 hereof and this Article XI, to the extent applicable. 
 SECTION 11.04. Subrogation. Each Guarantor shall be subrogated to all rights of Holders of Notes against the Issuers in respect of any amounts paid by any Guarantor pursuant to the provisions
of Section 11.01 hereof; provided that, if an Event of Default has occurred and is continuing, no Guarantor shall be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation until all amounts
then due and payable by the Issuers under this Indenture or the Notes shall have been paid in full. 
 SECTION 11.05.
Benefits Acknowledged. Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this Indenture and that the guarantee and waivers made by it pursuant to its Guarantee are
knowingly made in contemplation of such benefits. 
 SECTION 11.06. Release of Guarantees. Each Guarantee by a
Guarantor will provide by its terms that it shall be automatically and unconditionally released and discharged upon: 
 (1) (A) any sale, exchange or transfer (by merger or otherwise) of (i) the Capital Stock of such Guarantor, after which the applicable Guarantor is no longer a Restricted Subsidiary or (ii) all
or substantially all the assets of such Guarantor, in each case if such sale, exchange or transfer is made in compliance with the applicable provisions of this Indenture and the Guarantor is released from its guarantee, if any, of, and all pledges
and security, if any, granted in connection with, the Senior Credit Facilities; 
 (B) the release or discharge
of the guarantee by such Guarantor of Indebtedness under the Senior Credit Facilities, or the release or discharge of such other guarantee that resulted in the creation of such Guarantee, except a discharge or release by or as a result of payment
under such guarantee; 
 (C) the designation of any Restricted Subsidiary that is a Guarantor as an Unrestricted
Subsidiary in compliance with the applicable provisions of this Indenture; or 
 (D) the exercise by the Issuers
of their Legal Defeasance option or Covenant Defeasance option in accordance with Article VIII hereof or the discharge of the Issuers’ obligations under this Indenture in accordance with the terms of this Indenture; and 

(2) such Guarantor delivering to the Trustee an Officer’s Certificate of such Guarantor and an Opinion of Counsel,
each stating that all conditions precedent provided for in this Indenture relating to such transaction have been complied with. 

  
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 ARTICLE XII 
 SUBORDINATION OF GUARANTEES 
 SECTION 12.01. Agreement To Subordinate.
Each Guarantor agrees, and each Holder by accepting a Note agrees, that the obligations of such Guarantor under its Guarantee are subordinated in right of payment, to the extent and in the manner provided in this Article XII, to the prior payment in
cash in full of all existing and future Senior Indebtedness of such Guarantor and that the subordination is for the benefit of and enforceable by the holders of such Senior Indebtedness. A Guarantor’s obligations under its Guarantee shall in
all respects rank pari passu in right of payment with all existing and future Senior Subordinated Indebtedness of such Guarantor, and will be senior in right of payment to all existing and future Subordinated Indebtedness of such
Guarantor; and only Indebtedness of such Guarantor that is Senior Indebtedness shall rank senior to the obligations of such Guarantor under its Guarantee in accordance with the provisions set forth herein. All provisions of this Article XII shall be
subject to Section 12.12. 
 SECTION 12.02. Liquidation, Dissolution, Bankruptcy. Upon any payment or
distribution of the assets of a Guarantor to creditors upon a total or partial liquidation or dissolution of such Guarantor or in a reorganization of, or similar proceeding relating to, such Guarantor or its property: 

(i) the holders of Senior Indebtedness of such Guarantor shall be entitled to receive payment in full in cash of such
Senior Indebtedness before Holders shall be entitled to receive any payment; 
 (ii) until the Senior
Indebtedness of such Guarantor is paid in full in cash, any payment or distribution to which Holders would be entitled but for the subordination provisions of this Indenture shall be made to holders of such Senior Indebtedness as their interests may
appear, except that Holders may receive Permitted Junior Securities; and 
 (iii) if a distribution is made to
Holders that, due to the subordination provisions of this Indenture, should not have been made to them, such Holders will be required to hold it in trust for the holders of Senior Indebtedness of such Guarantor and pay it over to them as their
interests may appear. 
 SECTION 12.03. Default on Senior Indebtedness of a Guarantor. A Guarantor shall not make
any payment pursuant to its Guarantee (or pay any other Obligations relating to its Guarantee, including fees, costs, expenses, indemnities and rescission or damage claims) and may not purchase, redeem or otherwise retire any Notes (collectively,
“pay its Guarantee”) (except in the form of Permitted Junior Securities) if either of the following occurs (a “Guarantor Payment Default”): 

(i) any Obligation on any Designated Senior Indebtedness of such Guarantor is not paid in full in cash when due (after
giving effect to any applicable grace period); or 

  
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 (ii) any other default on Designated Senior Indebtedness of such Guarantor
occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms; 
 unless, in either case, the
Guarantor Payment Default has been cured or waived and any such acceleration has been rescinded or such Designated Senior Indebtedness has been discharged or paid in full in cash; provided, however, that such Guarantor shall be
entitled to pay its Guarantee without regard to the foregoing if such Guarantor and the Trustee receive written notice approving such payment from the Representatives of all Designated Senior Indebtedness with respect to which the Guarantor Payment
Default has occurred and is continuing. 
 During the continuance of any default (other than a Guarantor Payment Default) (a
“Guarantor Non-Payment Default”) with respect to any Designated Senior Indebtedness of a Guarantor pursuant to which the maturity thereof may be accelerated without further notice (except such notice as may be required to effect
such acceleration) or the expiration of any applicable grace periods, such Guarantor shall not pay its Guarantee (except in the form of Permitted Junior Securities) for a period (a “Guarantee Payment Blockage Period”) commencing
upon the receipt by the Trustee (with a copy to such Guarantor and the Issuers) of written notice (a “Guarantee Blockage Notice”) of such Guarantor Non-Payment Default from the Representative of such Designated Senior Indebtedness
specifying an election to effect a Guarantee Payment Blockage Period and ending 179 days thereafter. The Guarantee Payment Blockage Period shall end earlier if such Guarantee Payment Blockage Period is terminated (i) by written notice to the
Trustee, the relevant Guarantor and the Issuers from the Person or Persons who gave such Guarantee Blockage Notice; (ii) because the default giving rise to such Guarantee Blockage Notice is cured, waived or otherwise no longer continuing; or
(iii) because such Designated Senior Indebtedness has been discharged or repaid in full in cash. 
 Notwithstanding the
provisions described in the immediately preceding paragraph (but subject to the provisions contained in the first sentence of this Section 12.03 and Section 12.02 hereof), unless the holders of such Designated Senior Indebtedness or the
Representative of such Designated Senior Indebtedness shall have accelerated the maturity of such Designated Senior Indebtedness, the relevant Guarantor shall be entitled to resume paying its Guarantee after the end of such Guarantee Payment
Blockage Period. Each Guarantee shall not be subject to more than one Guarantee Payment Blockage Period in any consecutive 360-day period irrespective of the number of defaults with respect to Designated Senior Indebtedness of the relevant Guarantor
during such period; provided that if any Guarantee Blockage Notice is delivered to the Trustee by or on behalf of the holders of Designated Senior Indebtedness of such Guarantor (other than the holders of Indebtedness under the Senior Credit
Facilities), a Representative of holders of Indebtedness under the Senior Credit Facilities may give another Guarantee Blockage Notice within such period. However, in no event shall the total number of days during which any Guarantee Payment
Blockage Period or Periods on a Guarantee is in effect exceed 179 days in the aggregate during any consecutive 360-day period, and there must be at least 181 days during any consecutive 360-day period during which no Guarantee Payment Blockage
Period is in effect. Notwithstanding the foregoing, however, no default that existed or was continuing on the date of delivery of any Guarantee Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Guarantee Blockage Notice
unless such default shall have been waived for a period of not less than 90 days (it being acknowledged that any subsequent 

  
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action, or any breach of any financial covenants during the period after the date of delivery of a Guarantee Blockage Notice, that, in either case, would give rise to a Guarantor Non-Payment
Default pursuant to any provisions under which a Guarantor Non-Payment Default previously existed or was continuing shall constitute a new Guarantor Non-Payment Default for this purpose). 

SECTION 12.04. Acceleration of Payment of Notes. If payment of the Notes is accelerated because of an Event of Default, the
Issuers or such Guarantor shall promptly notify the holders of the Designated Senior Indebtedness of such Guarantor or the Representative of such Designated Senior Indebtedness of the acceleration; provided that any failure to give such
notice shall have no effect whatsoever on the provisions of this Article XII. 
 SECTION 12.05. When Distribution Must
Be Paid Over. If a distribution is made to Holders that, due to the subordination provisions of this Article XII, should not have been made to them, such Holders are required to hold it in trust for the holders of Senior Indebtedness of the
relevant Guarantor and pay it over to them as their interests may appear. 
 SECTION 12.06. Subrogation. After all
Senior Indebtedness of a Guarantor is paid in full and until the Notes are paid in full, Holders shall be subrogated to the rights of holders of such Senior Indebtedness to receive distributions applicable to such Senior Indebtedness. A distribution
made under this Article XII to holders of such Senior Indebtedness which otherwise would have been made to Holders is not, as between the relevant Guarantor and Holders, a payment by such Guarantor on such Senior Indebtedness. 

SECTION 12.07. Relative Rights. This Article XII defines the relative rights of Holders and holders of Senior Indebtedness of
a Guarantor. Nothing in this Indenture shall: 
 (i) impair, as between such Guarantor and Holders, the
obligation of such Guarantor, which is absolute and unconditional, to make payments under its Guarantee in accordance with its terms; 
 (ii) prevent the Trustee or any Holder from exercising its available remedies upon a default by such Guarantor under its obligations with respect to its Guarantee, subject to the rights of holders of
Senior Indebtedness of such Guarantor to receive payments or distributions otherwise payable to Holders and such other rights of such holders of Senior Indebtedness as set forth herein; or 

(iii) affect the relative rights of Holders and creditors of such Guarantor other than their rights in relation to holders
of Senior Indebtedness. 
 SECTION 12.08. Subordination May Not Be Impaired by a Guarantor. No right of any holder
of Senior Indebtedness of a Guarantor to enforce the subordination of the obligations of such Guarantor under its Guarantee shall be impaired by any act or failure to act by such Guarantor or by its failure to comply with this Indenture. 

SECTION 12.09. Rights of Trustee and Paying Agent. Notwithstanding Section 12.03 hereof, the Trustee or any Paying Agent
may continue to make payments on the Notes and shall not be charged with knowledge of the existence of facts that would prohibit the 

  
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making of any payments unless, not less than five Business Days prior to the date of such payment, a Responsible Officer of the Trustee receives notice satisfactory to it that payments may not be
made under this Article XII. Each Guarantor, the Registrar, the Paying Agent, a Representative or a holder of Senior Indebtedness of such Guarantor shall be entitled to give the notice; provided, however, that, if an issue of Senior
Indebtedness of such Guarantor has a Representative, only the Representative shall be entitled to give the notice. 
 The
Trustee in its individual or any other capacity shall be entitled to hold Senior Indebtedness of any Guarantor with the same rights it would have if it were not Trustee. The Registrar and the Paying Agent shall be entitled to do the same with like
rights. The Trustee shall be entitled to all the rights set forth in this Article XII with respect to any Senior Indebtedness of any Guarantor which may at any time be held by it, to the same extent as any other holder of such Senior Indebtedness;
and nothing in Article VII shall deprive the Trustee of any of its rights as such holder. Nothing in this Article XII shall apply to claims of, or payments to, the Trustee under or pursuant to Section 7.07 hereof or any other Section of this
Indenture. 
 SECTION 12.10. Distribution or Notice to Representative. Whenever any Person is to make a distribution
or give a notice to holders of Senior Indebtedness of a Guarantor, such Person shall be entitled to make such distribution or give such notice given to their Representative (if any). 

SECTION 12.11. Article XII Not To Prevent Events of Default or Limit Right To Demand Payment. The failure of a Guarantor to
make a payment pursuant its Guarantee by reason of any provision in this Article XII shall not be construed as preventing the occurrence of a default by such Guarantor under its Guarantee. Nothing in this Article XII shall have any effect on the
right of the Holders or the Trustee to make a demand for payment on a Guarantor pursuant to Article XI hereof. 

SECTION 12.12. Trust Moneys Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money
or the proceeds of Government Securities held in trust by the Trustee for the payment of principal of and interest on the Notes pursuant to Article VIII or Article XIII hereof shall not be subordinated to the prior payment of any Senior Indebtedness
of any Guarantor or subject to the restrictions set forth in this Article XII, and none of the Holders shall be obligated to pay over any such amount to such Guarantor or any holder of Senior Indebtedness of such Guarantor or any other creditor of
such Guarantor; provided that the subordination provisions of Article X hereof or this Article XII were not violated at the time the applicable amounts were deposited in trust pursuant to Article VIII or Article XIII hereof, as the case may
be. 
 SECTION 12.13. Trustee Entitled To Rely. Upon any payment or distribution pursuant to this Article XII, 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 12.02 hereof 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 the Representatives of Senior Indebtedness of a Guarantor for the purpose of ascertaining the Persons entitled to
participate in such payment or distribution, the holders of such Senior Indebtedness and other Indebtedness of such Guarantor, the amount thereof or payable thereon, 

  
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the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article XII. 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 of a Guarantor to participate in any payment or distribution pursuant to this Article XII, the Trustee shall be entitled to 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 XII, and, if such evidence is not furnished, the Trustee shall be entitled to defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. The provisions of
Sections 7.01 and 7.02 hereof shall be applicable to all actions or omissions of actions by the Trustee pursuant to this Article XII. 
 SECTION 12.14. Trustee To Effectuate Subordination. Each Holder by its acceptance of a Note agrees to be bound by this Article XII and authorizes and expressly directs the Trustee, on its
behalf, to take such action as may be necessary or appropriate to effectuate the subordination between the Holders and the holders of Senior Indebtedness of a Guarantor as provided in this Article XII and appoints the Trustee as attorney-in-fact for
any and all such purposes. 
 SECTION 12.15. Trustee Not Fiduciary for Holders of Senior Indebtedness of Guarantors.
The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness of any Guarantor and shall not be liable to any such holders if it shall mistakenly pay over or distribute to Holders or such Guarantor or any other
Person, money or assets to which any holders of Senior Indebtedness of such Guarantor shall be entitled by virtue of this Article XII or otherwise. 
 SECTION 12.16. Reliance by Holders of Senior Indebtedness of a Guarantor on Subordination Provisions. Each Holder by accepting a Note 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 of a Guarantor, whether such Senior Indebtedness was created or acquired before or after the issuance of the Notes, 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 such subordination provisions in acquiring and continuing to hold, or in continuing to
hold, such Senior Indebtedness. 
 Without in any way limiting the generality of the foregoing paragraph, the holders of Senior
Indebtedness of any Guarantor may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders, without incurring responsibility to the Trustee or the Holders and without impairing or releasing the subordination
provided in this Article XII or the obligations hereunder of the Holders to the holders of the Senior Indebtedness of such Guarantor, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of
payment of, or renew or alter, Senior Indebtedness of such Guarantor, or otherwise amend or supplement in any manner Senior Indebtedness of such Guarantor, or any instrument evidencing the same or any agreement under which Senior Indebtedness of
such Guarantor is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness of such Guarantor; (iii) release any Person liable in any manner for the payment
or collection of Senior Indebtedness of such Guarantor; and (iv) exercise or refrain from exercising any rights against such Guarantor and any other Person. 

  
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 ARTICLE XIII  
 SATISFACTION AND DISCHARGE 
 SECTION 13.01. Satisfaction and
Discharge. This Indenture shall be discharged and shall cease to be of further effect as to all Notes, when either: 
 (1) all Notes theretofore authenticated and delivered, except lost, stolen or destroyed Notes which have been replaced or paid and Notes for whose payment money has heretofore been deposited in trust,
have been delivered to the Trustee for cancellation; or 
 (2) (A) all Notes not theretofore delivered to the
Trustee for cancellation have become due and payable by reason of the making of a notice of redemption or otherwise, will become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to
the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, and the Company, the Co-Issuer or any Guarantor has irrevocably deposited or caused to be deposited with the Trustee as trust funds in
trust solely for the benefit of the Holders of the Notes, cash in U.S. dollars, U.S. dollar-denominated Government Securities, 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 theretofore delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest to the date of maturity or redemption; 

(B) no Default (other than that resulting from borrowing funds to be applied to make such deposit or any similar and
simultaneous deposit relating to other Indebtedness and the granting of Liens in connection therewith) with respect to this Indenture or the Notes shall have occurred and be continuing on the date of such deposit or shall occur as a result of such
deposit and such deposit will not result in a breach or violation of, or constitute a default under the Senior Credit Facilities, the Senior Notes, the Senior Indenture or any other material agreement or instrument (other than this Indenture) to
which the Company, the Co-Issuer or any Guarantor is a party or by which the Company, the Co-Issuer or any Guarantor is bound; 
 (C) the Issuers have paid or caused to be paid all sums payable by them under this Indenture; and 
 (D) the Issuers have delivered irrevocable instructions to the Trustee to apply the deposited money toward the payment of the Notes at maturity or the Redemption Date, as the case may be. 

  
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 In addition, the Issuers must deliver an Officer’s Certificate and an Opinion of
Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied. 

Notwithstanding the satisfaction and discharge of this Indenture, if money shall have been deposited with the Trustee pursuant to
subclause (A) of clause (2) of this Section 13.01, the provisions of Section 13.02 and Section 8.06 hereof shall survive. 
 SECTION 13.02. Application of Trust Money. Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee pursuant to Section 13.01 hereof shall be held in
trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company, the Co-Issuer or a Guarantor acting as its own Paying Agent) as the
Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent
required by law. 
 If the Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with
Section 13.01 hereof by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuers’ and any Guarantor’s
obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 13.01 hereof; provided that if the Issuers have made any payment of principal of, premium, if any, or
interest on any Notes because of the reinstatement of its obligations, the Issuers shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government Securities held by the Trustee or Paying Agent.

 ARTICLE XIV  
 MISCELLANEOUS 
 SECTION 14.01. [Reserved]. 

SECTION 14.02. Notices. Any notice or communication by the Issuers, any Guarantor or the Trustee to the others is duly given
if in writing and delivered in person or mailed by first-class mail (registered or certified, return receipt requested), fax or overnight air courier guaranteeing next day delivery, to the others’ address: 

If to the Issuers and/or any Guarantor: 

Surgical Care Affiliates, LLC 
 P.O. Box 382497 
 Birmingham, AL 35243 

Fax: 205.969.4750 
 Attention: William L. Wann, Jr. 

  
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 If to the Trustee: 

Wells Fargo Bank, N.A. 
 Corporate Trust Services 
 MAC N9311-110 

625 Marquette Avenue 
 Minneapolis, MN 55479 
 Fax: 612-667-9825 

Attention: Surgical Care Affiliates Account Manager 

The Issuers, any Guarantor or the Trustee, by notice to the others, may designate additional or different addresses for subsequent
notices or communications. 
 All notices and communications (other than those sent to Holders) shall be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five calendar days after being deposited in the mail, postage prepaid, if mailed by first-class mail; when receipt acknowledged, if faxed; and the next Business Day after timely
delivery to the courier, if sent by overnight air courier guaranteeing next day delivery; provided that any notice or communication delivered to the Trustee shall be deemed effective upon actual receipt thereof. 

Any notice or communication to a Holder shall be electronically delivered, 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 Note Register kept by the Registrar. Failure to deliver 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 delivered in the manner provided above within the
time prescribed, it is duly given, whether or not the addressee receives it. 
 If the Issuers deliver a notice or communication
to Holders, they shall deliver a copy to the Trustee and each Agent at the same time. 
 SECTION 14.03. [Reserved].

 SECTION 14.04. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Issuers
or any of the Guarantors to the Trustee to take any action under this Indenture, the Issuers or such Guarantor, as the case may be, shall furnish to the Trustee: 

(A) An Officer’s Certificate of the Issuers in form and substance reasonably satisfactory to the Trustee (which shall
include the statements set forth in Section 14.05 hereof) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been satisfied; and

 (B) An Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which shall include
the statements set forth in Section 14.05 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied. 

  
 135

 SECTION 14.05. Statements Required in Certificate or Opinion. Each certificate
or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to Section 4.04 hereof) shall include: 

(A) a statement that the Person making such certificate or opinion has read such covenant or condition; 

(B) 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; 
 (C) a statement that, in the opinion of such Person, he or
she has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with (and, in the case of an Opinion of Counsel, may be limited to reliance
on an Officer’s Certificate as to matters of fact); and 
 (D) a statement as to whether or not, in the
opinion of such Person, such condition or covenant has been complied with. 
 SECTION 14.06. Rules by Trustee and
Agents. The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions. 

SECTION 14.07. No Personal Liability of Directors, Officers, Employees and Stockholders. No director, officer, employee,
incorporator or stockholder of the Company, the Co-Issuer or any Guarantor or any of their parent companies (other than the Company, the Co-Issuer and the Guarantors) shall have any liability for any obligations of the Company, the Co-Issuer or the
Guarantors under the Notes, the Guarantees or this Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation. Each Holder by accepting Notes waives and releases all such liability. The waiver and release
are part of the consideration for issuance of the Notes. 
 SECTION 14.08. Governing Law. THIS INDENTURE, THE NOTES
AND ANY GUARANTEE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 14.09.
Waiver of Jury Trial. EACH OF THE ISSUERS, THE GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO
THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 SECTION 14.10. Force Majeure. In no event
shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations under this Indenture arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including without limitation
strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software or hardware)
services. 

  
 136

 SECTION 14.11. 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 Restricted Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

SECTION 14.12. Successors. All agreements of the Issuers in this Indenture and the Notes shall bind their successors. All
agreements of the Trustee in this Indenture shall bind its successors. All agreements of each Guarantor in this Indenture shall bind its successors, except as otherwise provided in Section 11.05 hereof. 

SECTION 14.13. 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 14.14. Counterpart Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.

 SECTION 14.15. Table of Contents, Headings, etc. The Table of Contents, Cross-Reference Table and headings of the
Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and shall in no way modify or restrict any of the terms or provisions hereof. 

[Signatures on following page] 

  
 137

 
			
	SURGERY CENTERS MERGER SUB LLC
		
	By:	 	/s/ Clive D. Bode
	Name:	 	 Clive D. Bode

	Title:	 	 Vice President and Secretary

 Signature Page to Indenture (Senior Subordinated Notes) 

  
 1 

 The undersigned hereby acknowledges and agrees that, upon the effectiveness of the Merger of Surgery Centers
Merger Sub LLC with and into Surgical Care Affiliates, LLC with Surgical Care Affiliates, LLC continuing as the surviving corporation, it shall succeed by operation of law to all of the rights and obligations of Surgery Centers Merger Sub LLC, set
forth herein and that all references to the “Company” shall thereupon be deemed to be references to the under-signed. 
  

			
	SURGICAL CARE AFFILIATES, LLC
		
	By:	 	/s/ William L. Wann, Jr.
	Name:	 	 William L. Wann, Jr.

	Title:	 	 Authorized Signatory

 Signature Page to Indenture (Senior Subordinated Notes) 

  
 2 

 
			
	SURGICAL HOLDINGS, INC.
		
	By:	 	/s/ Clive D. Bode
	 Name:
	 	Clive D. Bode
	Title:	 	Vice President and Secretary

 Signature Page to Indenture (Senior Subordinated Notes) 

  
 3 

 
			
	 ASC NETWORK, LLC
  

ECODESOLUTIONS, INC.
  
 HEALTHSOUTH SURGICAL CENTER OF TUSCALOOSA, INC.
  
 NATIONAL SURGERY CENTERS, LLC
  

SC AFFILIATES, LLC
  
 SURGERY CENTERS-WEST HOLDINGS, LLC
  
 SURGERY CENTER HOLDING, LLC
  

SURGICAL HEALTH, LLC,
  
     each as a Guarantor

		
	By:	 	/s/ William J. Wann, Jr.
	Name:	 	William J. Wann, Jr.
	Title:	 	Authorized Signatory

 Signature Page to Indenture (Senior Subordinated Notes) 

  
 4 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, AS TRUSTEE
		
	 By:
	 	/s/ Lynn M. Steiner
	Name:	 	 Lynn M. Steiner

	 Title:
	 	 Vice President

 Signature Page to Indenture (Senior Subordinated Notes) 

  
 5 

 EXHIBIT A 
 [Face of Note] 
 [Insert the Global Note Legend, if applicable pursuant to the
provisions of the Indenture] 
 [Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture]

 [Insert the Regulation S Temporary Global Note Legend, if applicable pursuant to the provisions of the Indenture] 

  
 A-1

 CUSIP [            ] 

ISIN [            ]2 
 [RULE 144A] [REGULATION S] [GLOBAL] NOTE 
 representing up to 

$150,000,000 

10.0% Senior Subordinated Note due 2017 
  

			
	No.          	  	[$                ]]

 Surgery Centers Merger Sub LLC, a Delaware limited liability company, to be merged with and into Surgical Care
Affiliates, LLC, a Delaware limited liability company, and Surgical Holdings, Inc., a Delaware corporation, promise to pay to                    or
registered assigns, the principal sum [set forth on the Schedule of Exchanges of Interests in the Global Note attached hereto] [of
                               United States Dollars] on July 15, 2017. 

Interest Payment Dates: January 15 and July 15, commencing January 15, 2008 
 Record Dates: January 1 and July 1 
  

	2 	144A ISIN: US86881RAB96 

	  	144A CUSIP: 86881R AB9 

	  	Regulation S ISIN: USU8681NAB11 

	  	Regulation S CUSIP: U8681N AB1 

  
 A-2

 IN WITNESS HEREOF, the Issuers have caused this instrument to be duly executed. 

 

			
	SURGERY CENTERS MERGER SUB LLC
		
	By:	 	  

			
	Name:	 	
	Title:	 	

 Signature Page to Senior Subordinated Note 

  
 A-3

 The undersigned hereby acknowledges and agrees that, upon the effectiveness of the Merger of Surgery Centers
Merger Sub LLC with and into Surgical Care Affiliates, LLC with Surgical Care Affiliates, LLC continuing as the surviving corporation, it shall succeed by operation of law to all of the rights and obligations of Surgery Centers Merger Sub LLC, set
forth herein and that all references to the “Company” shall thereupon be deemed to be references to the under-signed. 
  

			
	SURGICAL CARE AFFILIATES, LLC
		
	By:	 	
 

 
			
	Name:	 	
	Title:	 	

 Signature Page to Senior Subordinated Note 

  
 A-4

 
			
	SURGICAL HOLDINGS, INC.
		
	By:	 	
 

 
			
	Name:	 	
	Title:	 	

 Signature Page to Senior Subordinated Note 

  
 A-5

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

 

			
	WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Trustee
		
	 By:
	 	  

	 Name:
	 	Lynn M. Steiner
	 Title:
	 	Vice President

 Signature Page to Senior Subordinated Note 

  
 A-6

 [Back of Note] 
 10.0% Senior Subordinated Note due 2017 
 Capitalized terms used herein shall have
the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 1. INTEREST. Surgery Centers
Merger Sub LLC, a Delaware limited liability company, to be merged with and into Surgical Care Affiliates, LLC, a Delaware limited liability company (the “Company”), Surgical Holdings, Inc., a Delaware corporation (the
“Co-Issuer” and together with the Company, the “Issuers”), promise to pay interest on the principal amount of this Note at a rate per annum set forth below from June 29, 2007 until maturity. The Issuers will
pay interest on this Note semi-annually in arrears on January 15 and July 15 of each year, commencing on January 15, 2008, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest
Payment Date”). The Issuers will make each interest payment to the Holder of record of this Note on the immediately preceding January 1 and July 1 (each, a “Record Date”). Interest on this Note will accrue from
the most recent date to which interest has been paid or, if no interest has been paid, from and including June 29, 2007. The Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
principal and premium, if any, from time to time on demand at the rate then applicable to this Note; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without
regard to any applicable grace periods) from time to time on demand at the rate then applicable to this Note. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. 

Interest on this Note will accrue at the rate of 10.0% per annum. 

2. METHOD OF PAYMENT. The Issuers will pay interest on this Note to the Person who is the registered Holder of this Note at the close of
business on the Record Date (whether or not a Business Day) next preceding the Interest Payment Date, even if this Note is cancelled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the
Indenture with respect to defaulted interest. Payment of interest may be made by check mailed to the Holders at their addresses set forth in the Note Register of Holders, provided that [all payments of principal, premium, if any, and interest
on, this Note will be made by wire transfer of immediately available funds to the accounts specified by the Holder or Holders thereof]3 [all payments of principal, premium, if any, and interest on, this 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)]4. Such payment shall be in such coin or
currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

 

	3 	Applicable if this Note is represented by a Global Note registered in the name of or held by DTC or its nominee on the relevant record date. 

	4 	Applicable if this Note is represented by certificated notes. 

  
 A-7

 3. PAYING AGENT, REGISTRAR AND CALCULATION AGENT. Initially, Wells Fargo Bank, National
Association, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Issuers may change any Paying Agent or Registrar without notice to the Holders. The Company or any of its Subsidiaries may act as Paying Agent or Registrar.

 4. INDENTURE. The Issuers issued the Notes under a Senior Subordinated Notes Indenture, dated as of June 29, 2007 (the
“Indenture”), among Surgery Centers Merger Sub LLC, to be merged with and into Surgical Care Affiliates, LLC, Surgical Holdings, Inc., the Guarantors named therein and the Trustee. This Note is one of a duly authorized issue of
notes of the Issuers designated as their Senior Subordinated Notes due 2017. The Issuers shall be entitled to issue Additional Notes pursuant to Sections 2.01 and 4.09 of the Indenture. The Notes issued under the Indenture but shall be treated as a
single class of securities under the Indenture, unless otherwise specified in the Indenture. The terms of the Notes include those stated in the Indenture. The Notes are subject to all such terms and Holders are referred to the Indenture for a
statement of such 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. 

5. OPTIONAL REDEMPTION. 
 (a) Except as described below under clauses 5(b), 5(c) and 5(d) hereof, the Notes will not be redeemable at the Issuers’ option. 

(b) At any time prior to July 15, 2012, the Issuers may redeem all or a part of the Notes at a redemption price equal to 100.0% of
the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to the date of redemption (the “Redemption Date”), subject to the rights of Holders of Notes on the relevant Record
Date to receive interest due on the relevant Interest Payment Date. 
 (c) Until July 15, 2010, the Issuers may, at their
option on one or more occasions, redeem up to 35.0% of the aggregate principal amount of Notes issued by it at a redemption price equal to 110.000% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to the
Redemption Date, subject to the right of Holders of Notes of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date, with the net cash proceeds received by the Company from one or more Equity Offerings;
provided that at least 50.0% of the sum of the aggregate principal amount of the Initial Notes and any Additional Notes issued under the Indenture after the Issue Date remains outstanding immediately after the occurrence of each such
redemption; provided, further, that each such redemption occurs within 180 days of the date of closing of each such Equity Offering. Notice of any redemption upon any Equity Offering may be given prior to the redemption thereof, and
any such redemption or notice may, at the Issuers’ discretion, be subject to one or more conditions precedent, including, but not limited to, completion of the related Equity Offering. 

  
 A-8

 (d) On and after July 15, 2012, the Issuers may redeem the Notes, in whole or in part
at the redemption prices (expressed as percentages of principal amount of the Notes to be redeemed) set forth below, plus accrued and unpaid interest, if any, to the Redemption Date, (subject to the right of Holders of Notes of record on the
relevant Record Date to receive interest due on the relevant Interest Payment Date), if redeemed during the twelve-month period beginning on July 15 of each of the years indicated below: 

  
 A-9

					
	 Year
	  	Percentage	 
	 2012
	  	 	105.000	% 
	 2013
	  	 	103.333	% 
	 2014
	  	 	101.667	% 
	 2015 and thereafter
	  	 	100.000	% 

 (e) Any redemption pursuant to this paragraph 5 shall be made pursuant to the provisions of Sections 3.01
through 3.06 of the Indenture. 
 6. MANDATORY REDEMPTION. The Issuers shall not be required to make mandatory redemption or
sinking fund payments with respect to the Notes. 
 7. NOTICE OF REDEMPTION. Subject to Section 3.03 of the Indenture,
notice of redemption will be delivered electronically or mailed by first-class mail at least 30 days but not more than 60 days before the redemption date (except that redemption notices may be delivered electronically or mailed more than 60 days
prior to a redemption date if the notice is issued in connection with Article VIII or Article XI of the Indenture) to each Holder whose Notes are to be redeemed at its registered address. No Notes of less than $2,000 can be redeemed in part, except
that if all of the Notes of a Holder are to be redeemed, the entire outstanding amount of Notes held by such Holder shall be redeemed. On and after the Redemption Date, interest ceases to accrue on this Note or portions thereof called for
redemption. 
 8. OFFERS TO REPURCHASE. Upon the occurrence of a Change of Control, the Issuers shall make a Change of Control
Offer in accordance with Section 4.14 of the Indenture. In connection with certain Asset Sales, the Issuers shall make an Asset Sale Offer as and when provided in accordance with Sections 3.09 and 4.10 of the Indenture. 

9. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are issued initially in registered form without coupons in denominations of $2,000 and
any integral multiple of $1,000 in excess of $2,000. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and the Issuers may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Issuers need not exchange or register the transfer of any Note or portion of a Note selected for
redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Issuers need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed. 

10. SUBORDINATION. The Notes and the Guarantees are subordinated to Senior Indebtedness of the Issuers and the Guarantors on the terms
and subject to the conditions set forth in the Indenture. To the extent provided in the Indenture, Senior Indebtedness must be paid before the Notes and Guarantees may be paid. The Issuers agree, and each Holder by accepting a Note agrees, to the
subordination provisions contained in the Indenture and authorize the Trustee to give them effect and appoint the Trustee as attorney-in-fact for such purpose. 

  
 A-10

 11. PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for
all purposes. 
 12. AMENDMENT, SUPPLEMENT AND WAIVER. The Indenture, the Guarantees or the Notes may be amended or supplemented
as provided in the Indenture. 
 13. DEFAULTS AND REMEDIES. The Events of Default relating to the Notes are defined in
Section 6.01 of the Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 30.0% in principal amount of the then outstanding Notes may declare the principal, premium, if any, interest and any other
monetary obligations on all the then outstanding Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Notes will become
due and payable immediately without further action or notice. Holders may not enforce the Indenture, the Notes or the Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount
of the then outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any,
or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any
existing Default or and its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest on, any of the Notes held by a non-consenting Holder. The Company is required to deliver to the
Trustee annually a statement regarding compliance with the Indenture, and the Company is required within five Business Days after becoming aware of any Default, to deliver to the Trustee a statement specifying such Default and what action the
Issuers proposes to take with respect thereto. 
 14. AUTHENTICATION. This Note shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose until authenticated by the manual signature of the Trustee. 
 15. GOVERNING
LAW. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THE NOTES AND THE GUARANTEES. 
 16.
CUSIP AND ISIN NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuers has caused CUSIP and ISIN numbers to be printed on the Notes and the Trustee may use CUSIP and ISIN 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. 

  
 A-11

 The Issuers will furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to the Issuers at the following address: 
 Surgical Care Affiliates, LLC 

Surgical Holdings, Inc. 
 P.O. Box 382497

 Birmingham, AL 35243 
 Fax:
205.969.4750 
 Attention: William L. Wann, Jr. 

  
 A-12

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
  

			
	 (I) or (we) assign and transfer this Note to:
	  	 
		  	(Insert assignee’s legal name)

 

			
	  

(Insert assignee’s soc. sec. or tax I.D. no.)

	  

	  

	  

	  

	 (Print or type assignee’s name, address and zip code)

 
 and irrevocably appoint
                                         
                                         
                                         
                                         
            
 to transfer this Note on the books of the Issuers. The agent may
substitute another to act for him.

		
	 Date:
                                         
       
	  	

  

			
		
	Your Signature:	  	
		  	  

		  	(Sign exactly as your name appears on the face of this Note)

 

			
	 Signature Guarantee*:
                                         
                                         
                  

	
	 *  Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

  
 A-13

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuers pursuant to Section 4.10 or 4.14 of the Indenture, check the
appropriate box below: 
  ̈  Section 4.10
             ̈  Section 4.14 
 If you want to elect to have only part of this Note purchased by the Issuers pursuant to Section 4.10 or Section 4.14 of the Indenture, state the amount you elect to have purchased: 

$                     

  

			
	 Date:
                                
	  	
		
	Your Signature:	  	 
		  	(Sign exactly as your name appears on the face of this Note)
		
	Tax Identification No.:	  	 
	
	 Signature Guarantee*:
                                         
                                         
                              

	
	 *  Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

  
 A-14

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 

The initial outstanding principal amount of this Global Note is $
                    . The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note,
or exchanges of a part of another Global or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of 
Exchange or 
Payment
	  	 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
Custodian

  

 

	*	This schedule should be included only if the Note is issued in global form. 

  
 A-15

 EXHIBIT B 
 FORM OF CERTIFICATE OF TRANSFER 
 Surgical Care Affiliates, LLC 

Surgical Holdings, Inc. 
 P.O. Box 382497

 Birmingham, AL 35243 
 Fax:
205.969.4750 
 Attention: William L. Wann, Jr. 
 Wells Fargo Bank, National Association 
 Corporate Trust Services 

MAC N9311-110 
 625 Marquette Avenue 

Minneapolis, MN 55479 
 Fax: 612-667-9825

 Attention: Surgical Care Affiliates Account Manager 
 Re: 10.0% Senior Subordinated Notes due 2017 
 Reference is hereby made to the
Senior Subordinated Notes Indenture, dated as of June 29, 2007 (the “Indenture”), among Surgery Centers Merger Sub LLC, to be merged with and into Surgical Care Affiliates, LLC, Surgical Holdings, Inc., the Guarantors named
therein and the Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

                      
       (the “Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $
                     in such Note[s] or interests (the “Transfer”), to (the “Transferee”), as further
specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY]

 1.  ̈ CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE
RELEVANT 144A GLOBAL NOTE OR RELEVANT DEFINITIVE NOTE PURSUANT TO RULE 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “Securities
Act”), and, accordingly, the Transferor hereby further certifies that the beneficial interest or Definitive Note is being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial interest or Definitive
Note for its own account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a
transaction meeting the requirements of Rule 144A and such Transfer is in compliance with any applicable blue sky securities laws of any state of the United States. 

  
 B-1

 2.  ̈ CHECK IF TRANSFEREE WILL TAKE DELIVERY
OF A BENEFICIAL INTEREST IN THE RELEVANT REGULATION S GLOBAL NOTE OR RELEVANT DEFINITIVE NOTE PURSUANT TO REGULATION S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly,
the Transferor hereby further certifies that (i) the Transfer is not being made to a person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any
Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither such
Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of
Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the
Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will be subject to the restrictions on Transfer enumerated in the Indenture and the Securities Act. 
 3.  ̈ CHECK AND COMPLETE IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE RELEVANT DEFINITIVE NOTE PURSUANT TO ANY PROVISION OF THE
SECURITIES ACT OTHER THAN RULE 144A OR REGULATION S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial interests in Restricted Global Notes and Restricted Definitive Notes and pursuant to and in
accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further certifies that (check one): 

(a)  ̈ such Transfer is being effected pursuant to and in accordance with
Rule 144 under the Securities Act; 
 or 

(b)  ̈ such Transfer is being effected to the Company or a subsidiary
thereof; 
 or 
 (c)  ̈ such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus
delivery requirements of the Securities Act. 

  
 B-2

 4.  ̈ CHECK IF TRANSFEREE WILL TAKE DELIVERY
OF A BENEFICIAL INTEREST IN AN UNRESTRICTED GLOBAL NOTE OR OF AN UNRESTRICTED DEFINITIVE NOTE. 
 (a)  ̈ CHECK IF TRANSFER IS PURSUANT TO RULE 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions
contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated
in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 
 (b)  ̈ CHECK IF TRANSFER IS PURSUANT TO REGULATION S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under
the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and
the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note
will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 

(c)  ̈ CHECK IF TRANSFER IS PURSUANT TO OTHER EXEMPTION. (i) The
Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture
and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities
Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer enumerated in the Private Placement Legend
printed on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture. 
 This certificate and the
statements contained herein are made for your benefit and the benefit of the Issuers. 
  

			
	 [Insert Name of Transferor]

		
	 By:
	 	  

		 	Name:
		 	Title:

 Dated:
                             

  
 B-3

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

	 	1.	The Transferor owns and proposes to transfer the following: 

 [CHECK ONE OF (a) OR (b)] 
  

	 	(a)	 ̈ a beneficial interest in the: 

 

	 	(i)	 ̈ 144A Global Note (CUSIP: 86881R AB9), or 

 

	 	(ii)	 ̈ Regulation S Global Note (CUSIP: U8681N AB1), or 

 

	 	(b)	 ̈ a Restricted Definitive Note. 

 

	 	2.	After the Transfer the Transferee will hold: 

 [CHECK ONE] 
  

	 	(a)	 ̈ a beneficial interest in the: 

 

	 	(i)	 ̈ 144A Global Note (CUSIP: 86881R AB9), or 

 

	 	(ii)	 ̈ Regulation S Global Note (CUSIP: U8681N AB1), or 

 

	 	(iii)	 ̈ Unrestricted Global Note (            ); or

  

	 	(b)	 ̈ a Restricted Definitive Note; or 

 

	 	(c)	 ̈ an Unrestricted Definitive Note, in accordance with the terms of the Indenture. 

  
 B-4

 EXHIBIT C 
 FORM OF CERTIFICATE OF EXCHANGE 
 Surgical Care Affiliates, LLC 

Surgical Holdings, Inc. 
 P.O. Box 382497

 Birmingham, AL 35243 
 Fax:
205.969.4750 
 Attention: William L. Wann, Jr. 
 Wells Fargo Bank, National Association 
 Corporate Trust Services 

MAC N9311-110 
 625 Marquette Avenue 

Minneapolis, MN 55479 
 Fax: 612-667-9825

 Attention: Surgical Care Affiliates Account Manager 
 Re: 10.0% Senior Subordinated Notes due 2017 
 Reference is hereby made to the Senior Subordinated
Notes Indenture, dated as of June 29, 2007 (the “Indenture”), among Surgery Centers Merger Sub LLC, a Delaware limited liability company, to be merged with and into Surgical Care Affiliates, LLC, a Delaware limited liability
company, Surgical Holdings, Inc., a Delaware corporation, the Guarantors named therein and the Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

                      
   (the “Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $             in
such Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that: 

1) EXCHANGE OF RESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN A RESTRICTED GLOBAL NOTE FOR UNRESTRICTED DEFINITIVE NOTES OR
BENEFICIAL INTERESTS IN AN UNRESTRICTED GLOBAL NOTE 
 a)  ̈ CHECK
IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE TO BENEFICIAL INTEREST IN AN UNRESTRICTED GLOBAL NOTE. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest
in an Unrestricted Global Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance
with the transfer restrictions applicable to the Global Notes and pursuant to and in accordance with the United States Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in
the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky
securities laws of any state of the United States. 

  
 C-1

 b)  ̈ CHECK IF EXCHANGE IS
FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE TO UNRESTRICTED DEFINITIVE NOTE. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies
(i) the Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Definitive Note is
being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

c)  ̈ CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO BENEFICIAL
INTEREST IN AN UNRESTRICTED GLOBAL NOTE. In connection with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the beneficial interest is being
acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act,
(iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired in compliance with
any applicable blue sky securities laws of any state of the United States. 
 d)  ̈ CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO UNRESTRICTED DEFINITIVE NOTE. In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted Definitive Note, the
Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted
Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act
and (iv) the Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 2) EXCHANGE OF RESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES FOR RESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES 

  
 C-2

 a)  ̈ CHECK IF EXCHANGE IS
FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE TO RESTRICTED DEFINITIVE NOTE. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount,
the Owner hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive
Note issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act. 

b)  ̈ CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO BENEFICIAL
INTEREST IN A RESTRICTED GLOBAL NOTE. In connection with the Exchange of the Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE] [ ] 144A Global Note [ ] Regulation S Global Note, with an equal principal amount, the
Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted
Global Notes and pursuant to and in accordance with the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Exchange in accordance with the terms of the
Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act. 

This certificate and the statements contained herein are made for your benefit and the benefit of the Issuers and are dated
                     . 
  

			
	 [Insert Name of Transferor]

		
	By:	 	  

		 	Name:
		 	Title:

 Dated:
                                 

  
 C-3

 EXHIBIT D 
 [FORM OF SUPPLEMENTAL INDENTURE 
 TO BE DELIVERED BY SUBSEQUENT GUARANTORS]

 Supplemental Indenture (this “Supplemental Indenture”), dated as of
                    , among
                         (the “Guaranteeing Subsidiary”), a subsidiary of Surgical Care Affiliates, LLC,
a Delaware limited liability company (the “Company”), Surgical Holdings, Inc. (the “Co-Issuer” and, together with the Company, the “Issuers”) and Wells Fargo Bank, National Association, as trustee
(the “Trustee”). 
 W I T N E S S E T H 

WHEREAS, each of Surgical Care Affiliates, LLC, Surgical Holdings, Inc. and the Guarantors (as defined in the Indenture referred to
below) has heretofore executed and delivered to the Trustee a Senior Subordinated Notes Indenture (the “Indenture”), dated as of June 29, 2007, providing for the issuance of an unlimited aggregate principal amount of 10.0%
Senior Subordinated Notes due 2017 (the “Notes”); 
 WHEREAS, the Indenture provides that under certain
circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Issuers’ Obligations under the Notes and the
Indenture on the terms and conditions set forth herein and under the Indenture (the “Guarantee”); and 

WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

 NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is
hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 
 (1) Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 

(2) Agreement to Guarantee. The Guaranteeing Subsidiary hereby agrees as follows: 

(a) Along with all other Guarantors named in the Indenture (including pursuant to any supplemental indentures), to 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 the Indenture, the Notes or the obligations of the
Issuers hereunder or thereunder, that: 
 (i) the principal of and interest and premium, if any, on the Notes
shall 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 Issuers to the Holders or
the Trustee thereunder shall be promptly paid in full, all in accordance with the terms thereof; and 

  
 D-1

 (ii) in case of any extension of time of payment or renewal of any Notes or
any of such other obligations, that same shall be promptly paid in full when due in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any amount so guaranteed
for whatever reason, the Guarantors and the Guaranteeing Subsidiary shall be jointly and severally obligated to pay the same immediately. This is a guarantee of payment and not a guarantee of collection. 

(b) The obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or the
Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Issuers or any other Guarantor, any action to
enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. 
 (c) The Guaranteeing Subsidiary hereby waives: diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Issuers, any right to require a
proceeding first against the Issuers, protest, notice and all demands whatsoever. 
 (d) This Guarantee shall not be discharged
except by full payment of the obligations contained in the Notes, the Indenture and this Supplemental Indenture. The Guaranteeing Subsidiary accepts all obligations applicable to a Guarantor under the Indenture, including Articles XI and XII of the
Indenture. The Guaranteeing Subsidiary acknowledges that by executing this Supplemental Indenture, it will become a Guarantor under the Indenture and subject to all the terms and conditions applicable to Guarantors contained therein. 

(e) If any Holder or the Trustee is required by any court or otherwise to return to the Issuers, the Guarantors (including the
Guaranteeing Subsidiary), or any custodian, trustee, liquidator or other similar official acting in relation to either the Issuers or the Guarantors, any amount paid either to the Trustee or such Holder, this Guarantee, to the extent theretofore
discharged, shall be reinstated in full force and effect. 
 (f) The Guaranteeing Subsidiary 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. 
 (g) As between the Guaranteeing Subsidiary, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be accelerated as provided
in Article VI of the Indenture for the purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any declaration
of acceleration of such obligations as provided in Article VI of the Indenture, such obligations (whether or not due and payable) shall forthwith become due and payable by the Guaranteeing Subsidiary for the purpose of this Guarantee. 

  
 D-2

 (h) The Guaranteeing Subsidiary 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 this Guarantee. 

(i) Pursuant to Section 11.02 of the Indenture, after giving effect to all other contingent and fixed liabilities that are relevant
under any applicable Bankruptcy or fraudulent conveyance 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 such other
Guarantor under Article XI of the Indenture, this new Guarantee shall be limited to the maximum amount permissible such that the obligations of such Guarantor under this Guarantee will not constitute a fraudulent transfer or conveyance. 

(j) This Guarantee shall remain in full force and effect and continue to be effective should any petition be filed by or against the
Issuers for liquidation, reorganization, should the Issuers become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be appointed for all or any significant part of the Issuers’ assets, and shall, to
the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Notes are, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or
returned by any obligee on the Notes and Guarantee, whether as a “voidable preference”, “fraudulent transfer” or otherwise, all as though such payment or performance had not been made. In the event that any payment or any part
thereof, is rescinded, reduced, restored or returned, the Note shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. 

(k) In case any provision of this Guarantee 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. 
 (l) The obligations of the Guaranteeing Subsidiary
under this Guarantee are subordinated in right of payment, to the extent and in the manner provided in Article XII of the Indenture, to the prior payment in full of all existing and future Senior Indebtedness of the Guaranteeing Subsidiary.

 (m) Each payment to be made by the Guaranteeing Subsidiary in respect of this Guarantee shall be made without set-off,
counterclaim, reduction or diminution of any kind or nature. 
 (3) Execution and Delivery. The Guaranteeing Subsidiary
agrees that the Guarantee shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such Guarantee on the Notes. 

  
 D-3

 (4) Merger, Consolidation or Sale of All or Substantially All Assets. 

(a) Except as otherwise provided in Section 5.01(c) of the Indenture, the Guaranteeing Subsidiary may not consolidate or merge with
or into or wind up into (whether or not Guaranteeing Subsidiary is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets, in one or more related transactions, to
any Person unless: 
 (i) (A) such Guaranteeing Subsidiary is the surviving Person or the Person formed by or
surviving any such consolidation or merger (if other than such Guaranteeing Subsidiary) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a corporation organized or existing under the laws of
the jurisdiction of organization of the Guaranteeing Subsidiary, as applicable, or the laws of the United States, any state thereof, the District of Columbia, or any territory thereof (the Guaranteeing Subsidiary or such Person, as the case may be,
being herein called the “Successor Person”); 
 (B) the Successor Person, if other than such
Guaranteeing Subsidiary, expressly assumes all the obligations of the Guaranteeing Subsidiary under the Indenture and the Guaranteeing Subsidiary’s related Guarantee pursuant to supplemental indentures or other documents or instruments in form
reasonably satisfactory to the Trustee; 
 (C) immediately after such transaction, no Default exists; and

 (D) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel,
each stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with the Indenture; or 
 (ii) the transaction is made in compliance with Section 4.10 of the Indenture; 
 (b) Subject to certain limitations described in the Indenture, the Successor Person will succeed to, and be substituted for, such Guaranteeing Subsidiary under the Indenture and the Guaranteeing
Subsidiary’s Guarantee. Notwithstanding the foregoing, such Guaranteeing Subsidiary may merge into or transfer all or part of its properties and assets to another Guarantor, the Company or the Co-Issuer. 

(5) Releases. The Guarantee of the Guaranteeing Subsidiary shall be automatically and unconditionally released and discharged, and
no further action by the Guaranteeing Subsidiary, the Issuers or the Trustee is required for the release of the Guaranteeing Subsidiary’s Guarantee, upon: 
 (1) (A) any sale, exchange or transfer (by merger or otherwise) of the Capital Stock of the Guaranteeing Subsidiary, after which the Guaranteeing Subsidiary is no longer a Restricted Subsidiary or all or
substantially all the assets of the Guaranteeing Subsidiary, in each case if such sale, exchange or transfer is made in compliance with the applicable provisions of the Indenture and the Guaranteeing Subsidiary is released from the guarantee, if
any, of, and all pledges and security, if any, granted in connection with, the Senior Credit Facilities; 

  
 D-4

 (B) the release or discharge of the guarantee by the Guaranteeing Subsidiary
of the Senior Credit Facilities or the release or discharge of the guarantee which resulted in the creation of the Guarantee, except a discharge or release by or as a result of payment under such guarantee; 

(C) the proper designation of the Guaranteeing Subsidiary as an Unrestricted Subsidiary; or 

(D) the Issuers exercising their Legal Defeasance option or Covenant Defeasance option in accordance with Article VIII of
the Indenture or the Issuers’ obligations under the Indenture being discharged in accordance with the terms of the Indenture; and 
 (2) the Guaranteeing Subsidiary delivering to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for in the Indenture relating to such
transaction have been complied with. 
 (6) No Recourse Against Others. No director, officer, employee, incorporator or
stockholder of the Guaranteeing Subsidiary shall have any liability for any obligations of the Issuers or the Guarantors under the Notes, any Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by
reason of, such obligations or their creation. Each Holder by accepting Notes waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

(7) Governing Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. 
 (8) Counterparts. 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. 
 (9) Effect of Headings. The Section
headings herein are for convenience only and shall not affect the construction hereof. 
 (10) The Trustee. The Trustee
shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing
Subsidiary. 
 (11) Subrogation. The Guaranteeing Subsidiary shall be subrogated to all rights of Holders of Notes
against the Issuers in respect of any amounts paid by the Guaranteeing Subsidiary pursuant to the provisions of Section 2 hereof and Section 11.01 of the Indenture; provided that, if an Event of Default has occurred and is
continuing, the Guaranteeing Subsidiary shall not be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation until all amounts then due and payable by the Issuers under the Indenture or the Notes shall
have been paid in full. 

  
 D-5

 (12) Benefits Acknowledged. The Guaranteeing Subsidiary’s Guarantee is subject
to the terms and conditions set forth in the Indenture. The Guaranteeing Subsidiary acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this Supplemental Indenture and that
the guarantee and waivers made by it pursuant to this Guarantee are knowingly made in contemplation of such benefits. 
 (13)
Successors. All agreements of the Guaranteeing Subsidiary in this Supplemental Indenture shall bind its Successors, except as otherwise provided in this Supplemental Indenture. All agreements of the Trustee in this Supplemental Indenture
shall bind its successors. 
 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed, all as of the date first above written. 
  

			
	[GUARANTEEING SUBSIDIARY]
		
	By:	 	  

		 	Name:
		 	Title:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 D-6

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