Document:

Collateral Trust Agreement, dated as of November 16, 2009

 Exhibit 4.4 
  
  
 COLLATERAL TRUST AGREEMENT 
 dated as of November 16, 2009, 
 among 
 Energy
Future Intermediate Holding Company LLC, 
 The Bank of New York Mellon Trust Company, N.A., 
 as First Lien Trustee, 
 the other Secured Debt 
 Representatives from time to time party hereto 
 and 
 The Bank of
New York Mellon Trust Company, N.A., 
 as Collateral Trustee 
  
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	 Page

		
	ARTICLE 1.        DEFINITIONS; PRINCIPLES OF CONSTRUCTION	  	2
	 SECTION 1.1
	  	Defined Terms	  	2
	 SECTION 1.2
	  	Rules of Interpretation	  	15
		
	ARTICLE 2.        THE TRUST ESTATES	  	16
	 SECTION 2.1
	  	Declaration of Senior Trust	  	16
	 SECTION 2.2
	  	Declaration of Junior Trust	  	17
	 SECTION 2.3
	  	Priority of Liens	  	18
	 SECTION 2.4
	  	Restrictions on Enforcement of Junior Liens	  	18
	 SECTION 2.5
	  	Waiver of Right of Marshalling	  	20
	 SECTION 2.6
	  	Discretion in Enforcement of Parity Liens	  	21
	 SECTION 2.7
	  	Discretion in Enforcement of Parity Lien Obligations	  	21
	 SECTION 2.8
	  	Insolvency or Liquidation Proceedings	  	22
	 SECTION 2.9
	  	Collateral Shared Equally and Ratably within Class	  	23
		
	ARTICLE 3.        OBLIGATIONS AND POWERS OF COLLATERAL TRUSTEE	  	23
	 SECTION 3.1
	  	Undertaking of the Collateral Trustee	  	23
	 SECTION 3.2
	  	Release or Subordination of Liens	  	24
	 SECTION 3.3
	  	Enforcement of Liens	  	24
	 SECTION 3.4
	  	Application of Proceeds	  	25
	 SECTION 3.5
	  	Powers of the Collateral Trustee	  	27
	 SECTION 3.6
	  	Documents and Communications	  	27
	 SECTION 3.7
	  	For Sole and Exclusive Benefit of Holders of Secured Debt Obligations	  	27
	 SECTION 3.8
	  	Additional Secured Debt	  	27
		
	ARTICLE 4.        OBLIGATIONS ENFORCEABLE BY EFIH	  	29
	 SECTION 4.1
	  	Release of Liens on Collateral	  	29
	 SECTION 4.2
	  	Delivery of Copies to Secured Debt Representatives	  	31
	 SECTION 4.3
	  	Collateral Trustee not Required to Serve, File, Register or Record	  	31
		
	ARTICLE 5.        IMMUNITIES OF THE COLLATERAL TRUSTEE	  	31
	 SECTION 5.1
	  	No Implied Duty	  	31
	 SECTION 5.2
	  	Appointment of Agents and Advisors	  	32
	 SECTION 5.3
	  	Other Agreements	  	32
	 SECTION 5.4
	  	Solicitation of Instructions	  	32
	 SECTION 5.5
	  	Limitation of Liability	  	32
	 SECTION 5.6
	  	Documents in Satisfactory Form	  	32
	 SECTION 5.7
	  	Entitled to Rely	  	32
	 SECTION 5.8
	  	Secured Debt Default	  	33
	 SECTION 5.9
	  	Actions by Collateral Trustee	  	33
	 SECTION 5.10
	  	Security or Indemnity in Favor of the Collateral Trustee	  	33
	 SECTION 5.11
	  	Rights of the Collateral Trustee	  	33
	 SECTION 5.12
	  	Limitations on Duty of Collateral Trustee in Respect of Collateral	  	34
	 SECTION 5.13
	  	Assumption of Rights, Not Assumption of Duties	  	34

  

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	 SECTION 5.14
	  	No Liability for Clean Up of Hazardous Materials	  	35
		
	 ARTICLE 6.        RESIGNATION AND REMOVAL OF THE COLLATERAL
TRUSTEE
	  	35
	 SECTION 6.1
	  	Resignation or Removal of Collateral Trustee	  	35
	 SECTION 6.2
	  	Appointment of Successor Collateral Trustee	  	35
	 SECTION 6.3
	  	Succession	  	36
	 SECTION 6.4
	  	Merger, Conversion or Consolidation of Collateral Trustee	  	36
		
	 ARTICLE 7.        MISCELLANEOUS PROVISIONS
	  	36
	 SECTION 7.1
	  	Amendment	  	36
	 SECTION 7.2
	  	Voting	  	38
	 SECTION 7.3
	  	Further Assurances	  	39
	 SECTION 7.4
	  	Perfection of Junior Trust Estate	  	39
	 SECTION 7.5
	  	Successors and Assigns	  	40
	 SECTION 7.6
	  	Delay and Waiver	  	40
	 SECTION 7.7
	  	Notices	  	40
	 SECTION 7.8
	  	Notice Following Discharge of Parity Lien Obligations	  	42
	 SECTION 7.9
	  	Entire Agreement	  	42
	 SECTION 7.10
	  	Compensation; Expenses	  	42
	 SECTION 7.11
	  	Indemnity	  	43
	 SECTION 7.12
	  	Severability	  	43
	 SECTION 7.13
	  	Headings	  	44
	 SECTION 7.14
	  	Obligations Secured	  	44
	 SECTION 7.15
	  	Governing Law	  	44
	 SECTION 7.16
	  	Consent to Jurisdiction	  	44
	 SECTION 7.17
	  	Waiver of Jury Trial	  	44
	 SECTION 7.18
	  	Counterparts	  	45
	 SECTION 7.19
	  	Effectiveness	  	45
	 SECTION 7.20
	  	Successor Company	  	45
	 SECTION 7.21
	  	Continuing Nature of this Agreement	  	45
	 SECTION 7.22
	  	Insolvency	  	46
	 SECTION 7.23
	  	Rights and Immunities of Secured Debt Representatives	  	46
	 SECTION 7.24
	  	Patriot Act	  	46
	 SECTION 7.25
	  	Force Majeure	  	46

 EXHIBIT A – Additional Secured Debt Designation 
 EXHIBIT B – Form of Collateral Trust Joinder—Additional Secured Debt 
 EXHIBIT C – Form of Collateral Trust Joinder—Successor Company 
  

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 This Collateral Trust Agreement (this “Agreement”) is
dated as of November 16, 2009 and is by and among Energy Future Intermediate Holding Company, LLC, a Delaware limited liability company (“EFIH”), The Bank of New York Mellon Trust Company, N.A., a national
banking association duly organized under the laws of the United States of America, as First Lien Trustee (as defined below) and as Collateral Trustee (in such capacity and together with its successors in such capacity, the
“Collateral Trustee”) and the other Secured Debt Representatives from time to time party hereto. Capitalized terms used in this Agreement have the meanings assigned to them in the recitals and/or in Article 1
below. 
 RECITALS 
 Energy Future Holdings Corp. (“EFH” or the “EFH Notes Issuer”), the parent company of EFIH, has issued 9.75% Senior Secured Notes due
2019 (together with any additional notes (the “EFH Additional Notes”) issued under the EFH Indenture (as defined below), the “EFH Notes”) in an aggregate principal amount of $115,446,000
pursuant to an Indenture dated as of the date hereof (the “EFH Indenture”) among EFH, the guarantors party thereto from time to time and The Bank of New York Mellon Trust Company, N.A., as trustee (in such
capacity and together with its successors in such capacity, the “First Lien Trustee”), pursuant to which EFIH has guaranteed the obligations of EFH on a senior secured basis. 
 EFIH and EFIH Finance Inc., as co-issuers (together with the EFH Notes Issuer, the “Issuers”), have issued 9.75%
Senior Secured Notes due 2019 (together with any additional notes (the “EFIH Additional Notes”) issued under the EFIH Indenture (as defined below), the “EFIH Notes”) in an aggregate principal amount of
$141,083,000 pursuant to an Indenture dated as of the date hereof (the “EFIH Indenture”) among EFIH, EFIH Finance Inc., the guarantors party thereto from time to time and the First Lien Trustee, as Trustee thereunder.

 Pursuant to the EFH Indenture, EFIH has provided a Guarantee of EFH’s Obligations under the EFH Indenture and the EFH
Notes securing its obligations under its Guarantee of the EFH Notes and all other Obligations in respect thereof and any future Parity Lien Debt with Liens on all current and future Collateral (as hereinafter defined) to the extent that such Liens
have been provided for in the applicable Security Documents. 
 As required by each of the Indentures (as defined below), EFIH
has entered into a pledge agreement in favor of the Collateral Trustee, dated as of the date hereof (the “Pledge Agreement”) for the ratable benefit of the holders of Secured Debt Obligations. 
 In accordance with the terms of the Indentures and this Agreement, EFH and EFIH may incur Additional Secured Debt, which may be designated
as Parity Lien Debt and/or Junior Lien Debt. 
 This Agreement sets forth the terms on which each Secured Party has appointed
the Collateral Trustee to act as the collateral trustee for the current and future holders of the Secured Debt Obligations to receive, hold, maintain, administer and distribute the Collateral at any time delivered to the Collateral Trustee or the
subject of the Security Documents, and to enforce the Security Documents and all interests, rights, powers and remedies of the Collateral Trustee with respect thereto or thereunder and the proceeds thereof. 

 AGREEMENT 
 In consideration of the premises and the mutual agreements herein set forth, the receipt and sufficiency of which are hereby acknowledged,
the parties to this Agreement hereby agree as follows: 
 ARTICLE 1. DEFINITIONS; PRINCIPLES OF CONSTRUCTION 
 SECTION 1.1 Defined Terms. The following terms will have the following meanings: 
 “Act of Required Debtholders” means, as to any matter at any time: 
 (1) prior to the Discharge of Parity Lien Obligations, a direction in writing delivered to the Collateral Trustee by or with
the written consent of the holders of a majority of the sum of: 
 (a) the aggregate outstanding principal amount
of Parity Lien Debt (including outstanding letters of credit whether or not then available or drawn); and 
 (b)
the aggregate unfunded commitments to extend credit which, when funded, would constitute Parity Lien Debt; and 
 (2) at any time after the Discharge of Parity Lien Obligations, a direction in writing delivered to the Collateral Trustee by or with the written consent of the holders of Junior Lien Debt representing the Required Junior Lien Debtholders.

 For purposes of this definition, (a) Secured Debt registered in the name of, or beneficially owned by, EFIH or any Affiliate of EFIH
will be deemed not to be outstanding and (b) votes will be determined in accordance with Section 7.2. 
 “Additional Notes” means the EFH Additional Notes and the EFIH Additional Notes. 
 “Additional Secured Debt” has the meaning set forth in Section 3.8(b)(1). 
 “Additional Secured Debt Designation” means a notice in substantially the form of Exhibit A. 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such
specified Person. For purposes of this definition, “control,” as used with respect to any Person, means 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. For purposes of this definition, the terms “controlling,” “controlled by” and “under common control with” have correlative meanings.

 “Agreement” has the meaning set forth in the preamble. 
  

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 “Asset Sale” has the meaning set forth in the EFIH Indenture. 

“Bankruptcy Code” means Title 11 of the United States Code, as amended. 
 “Bankruptcy Law” means the Bankruptcy Code and any similar federal, state or foreign law for the
relief of debtors. 
 “Business Day” means any day other than a Saturday, a Sunday or a
day on which commercial banking institutions are not required to be open in the State of New York. 
 “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 interests (whether general or limited) or membership interests; 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. 
 “Capitalized Lease Obligations” has the meaning set forth in the EFH Indenture or the EFIH Indenture, as applicable. 
 “Class” means (1) in the case of Junior Lien Debt, every Series of Junior Lien Debt, taken
together, and (2) in the case of Parity Lien Debt, every Series of Parity Lien Debt, taken together. 
 “Collateral” means all assets or property, now owned or hereafter acquired by EFIH or any Successor Company, to the extent such assets or property are pledged or assigned or purported to be pledged or
assigned, or are required to be pledged or assigned under the Security Documents to the Collateral Trustee, together with the proceeds thereof, except: any properties and assets in which the Collateral Trustee is required to release its Liens
pursuant to Section 3.2; provided, that, if such Liens are required to be released as a result of the sale, transfer or other disposition of any properties or assets of EFIH, such assets or properties will cease to be excluded from the
Collateral if EFIH or any Successor Company thereafter acquires or reacquires such assets or properties. 
 “Collateral Trustee” has the meaning set forth in the preamble. 
 “Collateral Trust Joinder” means (1) with respect to the provisions of this Agreement relating to any Additional Secured Debt, an agreement substantially in the form of Exhibit B and
(2) with respect to the provisions of this Agreement relating to the substitution of EFIH by a Successor Company, an agreement substantially in the form of Exhibit C. 
  

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 “Company” has the meaning set forth in the preamble.

 “Contingent Obligations” has the meaning set forth in the EFH Indenture or the EFIH
Indenture, as applicable. 
 “Covenant Defeasance” has the meaning set forth in the EFH
Indenture or the EFIH Indenture, as applicable. 
 “Covered Commodity” means any energy,
electricity, generation capacity, power, heat rate, congestion, natural gas, nuclear fuel (including enrichment and conversion), diesel fuel, fuel oil, other petroleum-based liquids, coal, lignite, weather, emissions and other environmental credits,
waste by-products, renewable energy credit, or any other energy related commodity or service (including ancillary services and related risks (such as location basis)). 
 “Credit Facilities” has the meaning set forth in the EFH Indenture or the EFIH Indenture, as applicable. 
 “Discharge of Parity Lien Obligations” means the occurrence of all of the following: 
 (1) termination or expiration of all commitments to extend credit that would constitute Parity Lien Debt; 
 (2) payment in full in cash of the principal of, and interest and premium, if any, on all Parity Lien Debt (other than any
undrawn letters of credit); 
 (3) discharge or cash collateralization (at the lower of (A) 105% of the
aggregate undrawn amount and (B) the percentage of the aggregate undrawn amount required for release of liens under the terms of the applicable Parity Lien Document) of all outstanding letters of credit constituting Parity Lien Debt; and

 (4) payment in full in cash of all other Parity Lien Obligations that are outstanding and unpaid at the time
the Parity Lien Debt is paid in full in cash (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which no claim or demand for payment has been made at such time). 
 “EFH” has the meaning set forth in the recitals. 
 “EFH Additional Notes” has the meaning set forth in the recitals. 
 “EFH Indenture” has the meaning set forth in the recitals. 
 “EFH Notes” has the meaning set forth in the recitals. 
 “EFH Notes Issuer” has the meaning set forth in the recitals. 
 “EFIH” has the meaning set forth in the recitals. 
 “EFIH Additional Notes” has the meaning set forth in the recitals. 
  

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 “EFIH Indenture” has the meaning set forth in the
recitals. 
 “EFIH Notes” has the meaning set forth in the recitals. 
 “Equally and Ratably” means, in reference to sharing of Liens or proceeds thereof as between holders
of Secured Debt Obligations within the same Class after the repayment of amounts payable to the Collateral Trustee under this Agreement and the Parity Lien Representatives (and in the case of Junior Lien Obligations, Junior Lien Representatives) in
accordance with the applicable Secured Debt Document, that such Liens or proceeds: 
 (1) will be allocated and
distributed in accordance with Section 3.4 first to the Secured Debt Representative for each outstanding Series of Secured Lien Debt within that Class, for the account of the holders of such Series of Secured Lien Debt, ratably in proportion to
the principal of, and interest and premium (if any) and reimbursement obligations (contingent or otherwise) with respect to letters of credit, if any, outstanding (whether or not drawings have been made under such letters of credit) forming part of,
and Hedging Obligations to the extent constituting Secured Lien Debt pursuant to the terms of, each outstanding Series of Secured Lien Debt within that Class when the allocation or distribution is made, and thereafter; and 
 (2) will be allocated and distributed in accordance with Section 3.4 (if any remain after payment in full of all of the
principal of, and interest and premium (if any) and reimbursement obligations (contingent or otherwise) with respect to letters of credit, if any, outstanding (whether or not drawings have been made on such letters of credit) forming part of, and
Hedging Obligations to the extent constituting Secured Lien Debt pursuant to the terms of, each outstanding Series of Secured Debt Obligations within that Class) to the Secured Debt Representative for each outstanding Series of Secured Lien Debt
Obligations within that Class, for the account of the holders of any remaining Secured Debt Obligations within that Class, ratably in proportion to the aggregate unpaid amount of such remaining Secured Debt Obligations within that Class due and
demanded (with written notice to the applicable Secured Debt Representative and the Collateral Trustee) prior to the date such distribution is made. 
 “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. 
 “Exchange Act” means the Securities Exchange Act of
1934, as amended, and the rules and regulations of the SEC promulgated thereunder. 
 “Event of
Default” has the meaning set forth in the EFH Indenture or the EFIH Indenture, as applicable. 
 “First Lien Trustee” has the meaning set forth in the recitals. 
 “GAAP” means generally accepted accounting principles in the United States which are in effect on the date hereof. 
  

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 “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 or reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other
obligations. 
 “Guarantee” means the guarantee by any Guarantor of EFH’s Obligations
under the EFH Indenture. 
 “Guarantor” means each guarantor of the EFH Notes in
accordance with the terms of the EFH Indenture or the EFIH Notes in accordance with the terms of the EFIH Indenture. 
 “Hedging Obligations” means, with respect to any specified Person, the obligations of such Person under (a) any and all interest rate swap transactions, basis swaps, credit derivative transactions,
forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options for forward bond or forward bond price or forward bond index
transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other
similar transactions, or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or any such transaction is governed by or subject to any master agreement, (b) any and all transactions of any
kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master
Agreement or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement and (c) physical or
financial commodity contracts or agreements, power purchase or sale agreements, fuel purchase or sale agreements, environmental credit purchase or sale agreements, power transmission agreements, commodity transportation agreements, fuel storage
agreements, netting agreements (including Netting Agreements), capacity agreements and commercial or trading agreements, each with respect to, or including the purchase, sale, exchange of (or the option to purchase, sell or exchange), transmission,
transportation, storage, distribution, processing, sale, lease or hedge of, any Covered Commodity price or price indices for any such Covered Commodity or services or any other similar derivative agreements, and any other similar agreements.

 “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); 
  

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 (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 a trade payable or similar obligation to a trade creditor, 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; or 
 (d) representing 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 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 such obligor or guarantor); other than by endorsement of negotiable instruments for
collection in the ordinary course of business; and 
 (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 the amount of Indebtedness of such first
Person for purposes of this clause (3) shall be deemed to be equal to the lesser of (i) the aggregate unpaid amount of such Indebtedness and (ii) the fair market value of the property encumbered thereby as determined by such first
Person in good faith; 
 provided, however, 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 Receivables Facilities or (c) amounts payable by and between EFH and its Subsidiaries in connection with retail clawback
or other regulatory transition issues. 
 “Indemnified Liabilities” means any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, taxes, expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery, performance, administration or enforcement of this
Agreement or any of the other Security Documents, including any of the foregoing relating to the use of proceeds of any Secured Debt or the violation of, noncompliance with or liability under, any law applicable to or enforceable against EFIH, any
of its Subsidiaries or any of the Collateral and all reasonable costs and expenses (including reasonable fees and expenses of legal counsel selected by the Indemnitee) incurred by any Indemnitee in connection with any claim, action, investigation or
proceeding in any respect relating to any of the foregoing, whether or not suit is brought. 
 “Indemnitee” has the meaning set forth in Section 7.11(a). 
 “Indentures” means the EFH Indenture and the EFIH Indenture. 
  

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 “Insolvency or Liquidation Proceeding” means:

 (1) any case commenced by or against any obligor under any Secured Debt Document under any Bankruptcy Law for
the relief of debtors, any other proceeding for the reorganization, recapitalization or adjustment or marshalling of the assets or liabilities of any obligor under any Secured Debt Document, any receivership or assignment for the benefit of
creditors relating to any obligor under any Secured Debt Document or any similar case or proceeding relative to any obligor under any Secured Debt Document or its creditors, as such, in each case whether or not voluntary; 
 (2) any liquidation, dissolution, marshalling of assets or liabilities or other winding up of or relating to any obligor
under any Secured Debt Document, in each case whether or not voluntary and whether or not involving bankruptcy or insolvency; or 
 (3) any other proceeding of any type or nature in which substantially all claims of creditors of any obligor under any Secured Debt Document are determined and any payment or distribution is or may be
made on account of such claims. 
 “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, commissions, travel and similar
advances to officers and employees, 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 EFIH 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.

 “Issuers” has the meaning set forth in the recitals. 
 “Junior Lien” means a Lien granted by a Security Document to the Collateral Trustee, at any time, upon
any Collateral to secure Junior Lien Obligations. 
 “Junior Lien Debt” means: 

(1) any Indebtedness (including letters of credit and reimbursement obligations with respect thereto) that is secured on a
subordinated basis to the Parity Lien Debt by a Junior Lien that was permitted to be incurred and so secured under each applicable Secured Debt Document; provided, that: 
 (a) on or before the date on which such Indebtedness is incurred, such Indebtedness is designated by the obligors thereof, in
accordance with this Agreement, as “Junior Lien Debt” for the purposes of the Secured Debt Documents, including this Agreement; provided that no Series of Secured Lien Debt may be designated as both Junior Lien Debt and Parity Lien
Debt; 
 (b) such Indebtedness is governed by an indenture, credit agreement or other agreement that includes a
Lien Sharing and Priority Confirmation; and 
  

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 (c) all requirements set forth in this Agreement as to the confirmation,
grant or perfection of the Collateral Trustee’s Liens to secure such Indebtedness or Obligations in respect thereof are satisfied (and the satisfaction of such requirements will be conclusively established if EFIH delivers to the Collateral
Trustee an Officer’s Certificate stating that such requirements have been satisfied and that such Indebtedness is “Junior Lien Debt”); and 
 (2) Hedging Obligations incurred to hedge or manage interest rate risk with respect to Junior Lien Debt; provided that pursuant to the terms of the Junior Lien Documents, such Hedging Obligations
are secured by a Junior Lien on all of the assets and properties that secure the Indebtedness in respect of which such Hedging Obligations are incurred. 
 “Junior Lien Documents” means, collectively, any indenture, credit agreement or other agreement governing each Series of Junior Lien Debt and the Security Documents
that create or perfect Liens securing Junior Lien Obligations. 
 “Junior Lien Obligations”
means Junior Lien Debt and all other Obligations in respect thereof. 
 “Junior Lien
Representative” means, in the case of any future Series of Junior Lien Debt, the trustee, agent or representative of the holders of such Series of Junior Lien Debt who (A) is appointed as a Junior Lien Representative (for
purposes related to the administration of the Security Documents) pursuant to the indenture, credit agreement or other agreement governing such Series of Junior Lien Debt, together with its successors in such capacity, and (B) that has executed
a Collateral Trust Joinder. 
 “Junior Trust Estate” has the meaning set forth in
Section 2.2. 
 “Legal Defeasance” has the meaning set forth in the EFH Indenture or
the EFIH Indenture, as applicable. 
 “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 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 UCC (or
equivalent statutes) of any jurisdiction; provided that in no event shall an operating lease be deemed to constitute a Lien. 
 “Lien Sharing and Priority Confirmation” means: 
 (1) as to any
Series of Parity Lien Debt, the written agreement enforceable against the holders of such Series of Parity Lien Debt, as set forth in the applicable Secured Debt Document: 
 (a) for the enforceable benefit of all holders of each existing and future Series of Parity Lien Debt and each existing and
future Parity Lien

  

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Representative, that all Parity Lien Obligations will be and are secured Equally and Ratably by all Parity Liens at any time granted by EFIH to secure any Obligations in respect of such Series of
Parity Lien Debt, and that all such Parity Liens will be enforceable by the Collateral Trustee for the benefit of all holders of Parity Lien Obligations equally and ratably; 
 (b) for the enforceable benefit of all holders of each existing and future Series of Parity Lien Debt and Series of Junior
Lien Debt, and each existing and future Parity Lien Representative and Junior Lien Representative, that the holders of Obligations in respect of such Series of Parity Lien Debt are bound by the provisions of this Agreement, including the provisions
relating to the ranking of Parity Liens and the order of application of proceeds from enforcement of Parity Liens; and 
 (c) consenting to and directing the Collateral Trustee to perform its obligations under this Agreement and the other Security Documents in respect of the Secured Debt Obligations.; 
 (2) as to any Series of Junior Lien Debt, the written agreement enforceable against the holders of such Series of Junior Lien
Debt, as set forth in the applicable Secured Debt Document; 
 (a) for the enforceable benefit of all holders of
each existing and future Series of Junior Lien Debt and Series of Parity Lien Debt and each existing and future Junior Lien Representative and Parity Lien Representative, that all Junior Lien Obligations will be and are secured Equally and Ratably
by all Junior Liens at any time granted by EFIH to secure any Obligations in respect of such Series of Junior Lien Debt, and that all such Junior Liens will be enforceable by the Collateral Trustee for the benefit of all holders of Junior Lien
Obligations Equally and Ratably; 
 (b) for the enforceable benefit of all holders of each existing and future
Series of Parity Lien Debt and Series of Junior Lien Debt and each existing and future Parity Lien Representative and Junior Lien Representative, that the holders of Obligations in respect of such Series of Junior Lien Debt are bound by the
provisions of this Agreement, including the provisions relating to the ranking of Junior Liens and the order of application of proceeds from the enforcement of Junior Liens; and 
 (c) consenting to and directing the Collateral Trustee to perform its obligations under this Agreement and the other Security
Documents in respect of the Secured Debt Obligations. 
 “Netting Agreement” means a
netting agreement, master netting agreement or other similar document having the same effect as a netting agreement or master netting agreement and, as applicable, any collateral annex, security agreement or other similar document related to any
master netting agreement or Permitted Contract. 
  

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 “Note Obligations” means the EFH Notes, the EFIH Notes, the
Guarantees and all other Obligations of EFH, EFIH and the Guarantors under the EFH Indenture or the EFIH Indenture, the EFH Notes, the EFIH Notes, the Guarantees and the Security Documents. 
 “Notes” means the EFH Notes and the EFIH Notes. 
 “Obligations” means any principal, interest (including all interest accrued thereon after the
commencement of any Insolvency or Liquidation Proceeding at the rate, including any applicable post-default rate, specified in the Secured Debt Documents, even if such interest is not enforceable, allowable or allowed as a claim in such proceeding),
premium, penalties, fees, indemnifications, reimbursements, 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. 
 “Officer’s Certificate” means a
certificate signed on behalf of an Issuer by an Officer of such Issuer or on behalf of another 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 Issuer or such Person, as applicable, that includes: 
 (1) a statement that the
Person making such certificate has read such covenant or condition; 
 (2) a brief statement as to the nature and
scope of the examination or investigation upon which the statements or opinions contained in such certificate are based; 
 (3) a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable him or her 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 
 (4) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with.

 “Original Issue Date” means November 16, 2009. 
 “Oncor” has the meaning set forth in Section 3.3(b). 
 “Oncor Holdings” has the meaning set forth in Section 3.3(b). 
 “Parity Lien” means a Lien granted by a Security Document to the Collateral Trustee, at any time, upon
any Collateral to secure Parity Lien Obligations. 
 “Parity Lien Debt” means: 

(1) the Guarantee by EFIH of the EFH Notes issued on the Original Issue Date and of any EFH Additional Notes issued under
the EFH Indenture; 
  

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 (2) any other Indebtedness (including letters of credit and reimbursement
obligations with respect thereto) that is secured equally and ratably with the EFIH Notes and EFIH’s Guarantee of the EFH Notes by a Parity Lien that was permitted to be incurred and so secured under each applicable Secured Debt Document;
provided, in the case of Indebtedness referred to in this clause (2) that, except with respect to the EFIH Notes issued on the Original Issue Date: 
 (a) on or before the date on which such Indebtedness is incurred, such Indebtedness is designated, in accordance with this
Agreement, as “Parity Lien Debt” for the purposes of the Secured Debt Documents; provided that no Series of Secured Lien Debt may be designated as both Parity Lien Debt and Junior Lien Debt; 
 (b) such Indebtedness is governed by an indenture, credit agreement or other agreement that includes a Lien Sharing and
Priority Confirmation; and 
 (c) all requirements set forth in this Agreement as to the confirmation, grant or
perfection of the Collateral Trustee’s Lien to secure such Indebtedness or Obligations in respect thereof are satisfied (and the satisfaction of such requirements will be conclusively established if EFIH delivers to the Collateral Trustee an
Officer’s Certificate stating that such requirements have been satisfied and that such notes or such Indebtedness is “Parity Lien Debt”); and 
 (3) Hedging Obligations incurred to hedge or manage interest rate risk with respect to Parity Lien Debt; provided
that, pursuant to the terms of the Parity Lien Documents, such Hedging Obligations are secured by a Parity Lien on all of the assets and properties that secure the Indebtedness in respect of which such Hedging Obligations are incurred. 

“Parity Lien Documents” means the Indentures and any additional indenture, credit agreement or
other agreement governing a Series of Parity Lien Debt and the Security Documents that create or perfect Liens securing Parity Lien Obligations. 
 “Parity Lien Obligations” means the Parity Lien Debt and all other Obligations in respect of Parity Lien Debt. 
 “Parity Lien Representative” means: 
 (1) the First Lien Trustee, in the case of the EFH Notes and the EFIH Notes; or 
 (2) in the case of any other Series of Parity Lien Debt, the trustee, agent or representative of the holders of such Series
of Parity Lien Debt who (a) is appointed as a representative of the Parity Lien Debt (for purposes related to the administration of the Security Documents) pursuant to the indenture, credit agreement or other agreement governing such Series of
Parity Lien Debt, together with its successors in such capacity, and (b) has executed a Collateral Trust Joinder. 
  

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 “Parity Lien Trustee” has the meaning set forth in the
recitals. 
 “Person” means any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization, limited liability company or government or any agency or political subdivision thereof or any other entity. 
 “Pledge Agreement” has the meaning set forth in the recitals. 
 “PUCT” has the meaning set forth in Section 3.3(b). 
 “PURA” has the meaning set forth in Section 3.3(b). 
 “Receivables Facilities” has the meaning set forth in the EFH Indenture or the EFIH Indenture, as
applicable. 
 “Required Junior Lien Debtholders” means, at any time, the holders of a
majority in aggregate principal amount of all Junior Lien Debt (including outstanding letters of credit whether or not then available or drawn) then outstanding and the aggregate unfunded commitments to extend credit which, when funded, would
constitute Junior Lien Debt, calculated in accordance with the provisions of Section 7.2. For purposes of this definition, Junior Lien Debt registered in the name of, or beneficially owned by, EFIH or any Affiliate of EFIH will be deemed not to
be outstanding. 
 “Required Parity Lien Debtholders” means, at any time, the holders of a
majority in aggregate principal amount of all Parity Lien Debt (including outstanding letters of credit whether or not then available or drawn) then outstanding and the aggregate unfunded commitments to extend credit which, when funded, would
constitute Parity Lien Debt, calculated in accordance with the provisions of Section 7.2. For purposes of this definition, Parity Lien Debt registered in the name of, or beneficially owned by, EFIH or any Affiliate of EFIH will be deemed not to
be outstanding. 
 “Restricted Subsidiary” of a Person means at any time any direct or
indirect Subsidiary of the referent Person (including any foreign Subsidiary) that is not an Unrestricted Subsidiary; provided, however, that upon an Unrestricted Subsidiary’s ceasing to be an Unrestricted Subsidiary, such
Subsidiary shall be included in the definition of “Restricted Subsidiary”. 
 “Sale of
Collateral” means any Asset Sale involving a sale or other disposition of Collateral. 
 “Secured Debt” means Parity Lien Debt and Junior Lien Debt. 
 “Secured Debt Default” means any event of default (or equivalent thereof) under the terms of any credit agreement, indenture or other agreement governing any Series of Secured Lien Debt, which causes,
or permits holders of Secured Debt outstanding thereunder to cause, the Secured Debt outstanding thereunder to become immediately due and payable. 
 “Secured Debt Documents” means the Parity Lien Documents and the Junior Lien Documents. 
  

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 “Secured Debt Obligations” means Junior Lien
Obligations and Parity Lien Obligations. 
 “Secured Debt Representative” means each
Parity Lien Representative and each Junior Lien Representative. 
 “Secured Parties” means
the holders of Secured Debt Obligations and the Secured Debt Representatives. 
 “Security
Documents” means this Agreement, the Pledge Agreement, and all other security agreements, pledge agreements, collateral assignments, mortgages, collateral agency agreements, deed of trust or other grants or transfers for security
executed and delivered by any Issuer, any Guarantor or any other obligor under the Notes creating (or purporting to create) a Lien upon Collateral in favor of the Collateral Trustee for the benefit of the holders of the Secured Debt Obligations, in
ach case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in accordance with its terms. 
 “Senior Trust Estate” has the meaning set forth in Section 2.1. 
 “Series of Junior Lien Debt” means, severally, each issue of Junior Lien Debt for which a single transfer register is maintained (provided that any Hedging Obligations constituting Junior Lien Debt
shall be deemed a part of the Series of Junior Lien Debt to which it relates). 
 “Series of Parity Lien
Debt” means, severally, the EFH Notes, the EFIH Notes and any Additional Notes or any Credit Facility or other Indebtedness that constitutes Parity Lien Debt (provided that any Hedging Obligations constituting Parity Lien Debt
shall be deemed part of the Series of Parity Lien Debt to which it relates). 
 “Series of Secured Lien
Debt” means each Series of Junior Lien Debt and each Series of Parity Lien Debt. 
 “Subsidiary” means, with respect to any Person: 
 (1) any
corporation, association or other business entity (other than a partnership, joint venture, limited liability company or similar entity) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or
a combination thereof; and 
 (2) any partnership, joint venture, limited liability company or similar entity of
which 
 (x) more than 50% of the capital accounts, distribution rights, total equity and voting interests or
general or limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof whether in the form of membership, general,
special or limited partnership or otherwise; and 
  

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 (y) such Person or any Restricted Subsidiary of such Person is a controlling
general partner or otherwise controls such entity. 
 “Successor Company” means any Person
that is required to assume the obligations of EFIH under this Agreement pursuant to the Indentures, has actually assumed EFIH’s obligations hereunder and has executed a Collateral Trust Joinder as set forth in Exhibit C. 
 “Texas Transmission” has the meaning set forth in Section 3.3(c). 
 “Trust Estates” has the meaning set forth in Section 2.2. 
 “UCC” means the Uniform Commercial Code as in effect from time to time in any applicable jurisdiction.

 “Unrestricted Subsidiary” has the meaning set forth in the EFH Indenture or the EFIH
Indenture, as applicable. 
 SECTION 1.2 Rules of Interpretation. 
 (a) All terms used in this Agreement that are defined in Article 9 of the UCC and not otherwise defined herein have the meanings
assigned to them in Article 9 of the UCC. 
 (b) Unless otherwise indicated, any reference to any agreement or instrument will
be deemed to include a reference to that agreement or instrument as assigned, amended, supplemented, amended and restated, or otherwise modified and in effect from time to time or replaced in accordance with the terms of this Agreement. 

(c) The use in this Agreement or any of the other Security Documents of the word “include” or “including,” when
following any general statement, term or matter, will not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not nonlimiting
language (such as “without limitation” or “but not limited to” or words of similar import) is used with reference thereto, but will be deemed to refer to all other items or matters that fall within the broadest possible scope of
such general statement, term or matter. The word “will” shall be construed to have the same meaning and effect as the word “shall.” 
 (d) References to “Sections,” “clauses,” “recitals” and the “preamble” will be to Sections, clauses, recitals and the preamble, respectively, of this Agreement
unless otherwise specifically provided. References to “Articles” will be to Articles of this Agreement unless otherwise specifically provided. References to “Exhibits” will be to Exhibits to this Agreement unless otherwise
specifically provided. 
 (e) Notwithstanding anything to the contrary in this Agreement, any references contained herein to any
section, clause, paragraph, definition or other provision of the EFH Indenture or the EFIH Indenture (including any definition contained therein), as applicable, shall be deemed to be a reference to such section, clause, paragraph, definition or
other provision as in effect on the date of this Agreement; provided that any reference to any such section, clause, paragraph or other provision shall refer to such section, clause, paragraph or other

  

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provision of the EFH Indenture or the EFIH Indenture (including any definition contained therein), as applicable, as amended or modified from time to time if such amendment or modification has
been (1) made in accordance with the EFH Indenture or the EFIH Indenture, as applicable, and (2) approved by an Act of Required Debtholders in a writing delivered to the applicable Parity Lien Representatives and the Collateral Trustee.
Notwithstanding the foregoing, whenever any term used in this Agreement is defined or otherwise incorporated by reference to the EFH Indenture or the EFIH Indenture, such reference shall be deemed to have the same effect as if such definition or
term had been set forth herein in full and such term shall continue to have the meaning established pursuant to the EFH Indenture or the EFIH Indenture, as applicable, notwithstanding the termination or expiration of the EFH Indenture or the EFIH
Indenture, as applicable, or redemption of all Obligations evidenced thereby, respectively. 
 (f) This Agreement and the other
Security Documents will be construed without regard to the identity of the party who drafted it and as though the parties participated equally in drafting it. Consequently, each of the parties acknowledges and agrees that any rule of construction
that a document is to be construed against the drafting party will not be applicable either to this Agreement or the other Security Documents. 
 (g) In the event of any conflict between any terms and provisions set forth in this Agreement and those set forth in any other Security Document, the terms and provisions of this Agreement shall supersede
and control the terms and provisions of such other Security Document. 
 ARTICLE 2. THE TRUST ESTATES 
 SECTION 2.1 Declaration of Senior Trust. To secure the payment of the Parity Lien Obligations and in consideration of the mutual
agreements set forth in this Agreement, EFIH hereby grants to the Collateral Trustee, and the Collateral Trustee hereby accepts and agrees to hold, in trust under this Agreement for the benefit of all present and future holders of Parity Lien
Obligations, all of EFIH’s right, title and interest in, to and under all Collateral granted to the Collateral Trustee under any Security Document for the benefit of the holders of Parity Lien Obligations, together with all of the Collateral
Trustee’s right, title and interest in, to and under the Security Documents, and all interests, rights, powers and remedies of the Collateral Trustee thereunder or in respect thereof and all cash and non-cash proceeds thereof (collectively, the
“Senior Trust Estate”). 
 The Collateral Trustee and its successors and assigns under
this Agreement will hold the Senior Trust Estate in trust for the benefit solely and exclusively of all present and future holders of Parity Lien Obligations as security for the payment of all present and future Parity Lien Obligations. 

Notwithstanding the foregoing, if at any time: 
 (1) all Liens securing the Parity Lien Obligations have been released as provided in Section 4.1; 
 (2) no monetary obligation (other than indemnification and other contingent obligations not then due and payable and letters
of credit that have been cash

  

 16 

 
collateralized as provided in clause (3) of the definition of “Discharge of Parity Lien Obligations”) is outstanding and payable under this Agreement to the Collateral
Trustee or any of its co-trustees or agents (whether in an individual or representative capacity); and 
 (3)
EFIH delivers to the Collateral Trustee an Officer’s Certificate stating that all Parity Liens of the Collateral Trustee have been released in compliance with all applicable provisions of the Parity Lien Documents and that EFIH is not required
by any Parity Lien Document to grant any Parity Lien upon any property, 
 then the senior trust arising hereunder will terminate, except that
all provisions set forth in Sections 7.10 and 7.11 that are enforceable by the Collateral Trustee or any of its co-trustees or agents (whether in an individual or representative capacity) will remain enforceable in accordance with their terms.

 The parties further declare and covenant that the Senior Trust Estate will be held and distributed by the Collateral Trustee
subject to the further agreements herein. 
 SECTION 2.2 Declaration of Junior Trust. To secure the payment of the Junior
Lien Obligations and in consideration of the premises and the mutual agreements set forth herein, EFIH hereby grants to the Collateral Trustee, and the Collateral Trustee hereby accepts and agrees to hold, in trust under this Agreement for the
benefit of all future holders of Junior Lien Obligations, all of EFIH’s right, title and interest in, to and under all Collateral granted to the Collateral Trustee under any Security Document for the benefit of the holders of Junior Lien
Obligations, together with all of the Collateral Trustee’s right, title and interest in, to and under the Security Documents, and all interests, rights, powers and remedies of the Collateral Trustee thereunder or in respect thereof and all cash
and non-cash proceeds thereof (collectively, the “Junior Trust Estate,” and together with the Senior Trust Estate, the “Trust Estates”). 
 The Collateral Trustee and its successors and assigns under this Agreement will hold the Junior Trust Estate in trust for the benefit solely
and exclusively of all present and future holders of Junior Lien Obligations as security for the payment of all present and future Junior Lien Obligations. 
 Notwithstanding the foregoing, if at any time: 
 (1) all Liens
securing the Junior Lien Obligations have been released as provided in Section 4.1; 
 (2) no monetary
obligation (other than indemnification and other contingent obligations not then due and payable and letters of credit that have been cash collateralized as provided in clause (3) of the definition of “Discharge of Parity Lien
Obligations”) is outstanding and payable under this Agreement to the Collateral Trustee or any of its co-trustees or agents (whether in an individual or representative capacity); and 
 (3) EFIH delivers to the Collateral Trustee an Officer’s Certificate stating that all Junior Liens of the Collateral
Trustee have been released in compliance with all applicable provisions of the Junior Lien Documents and that EFIH is not required by any Junior Lien Document to grant any Junior Lien upon any property, 
  

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 then the junior trust arising hereunder will terminate, except that all provisions set forth in
Sections 7.10 and 7.11 that are enforceable by the Collateral Trustee or any of its co-trustees or agents (whether in an individual or representative capacity) will remain enforceable in accordance with their terms. 
 The parties further declare and covenant that the Junior Trust Estate will be held and distributed by the Collateral Trustee subject to the
further agreements herein. 
 SECTION 2.3 Priority of Liens. Notwithstanding (1) anything else contained herein or
in any other Security Document; (2) the time of incurrence of any Series of Parity Lien Debt; (3) the order or method of attachment or perfection of any Liens securing any Series of Parity Lien Debt; (4) the time or order of filing or
recording of financing statements or other documents filed or recorded to perfect any Lien upon any Collateral; (5) the time of taking possession or control over any Collateral; (6) that any Parity Lien may not have been perfected or may
be or have become subordinated, by equitable subordination or otherwise, to any other Lien; or (7) the rules for determining priority under any law governing relative priorities of Liens, it is the intent of the parties that: 
 (a) this Agreement and the other Security Documents create two separate and distinct Trust Estates and Liens: the Senior
Trust Estate and Parity Lien securing the payment and performance of the Parity Lien Obligations and the Junior Trust Estate and Junior Lien securing the payment and performance of the Junior Lien Obligations; and 
 (b) all Junior Liens at any time granted by EFIH will be subject and subordinate to all Parity Liens. 
 The provisions described in this Section 2.3 are intended for the benefit of, and will be enforceable as a third party beneficiary by, each present and
future holder of Parity Lien Obligations, each present and future Parity Lien Representative and the Collateral Trustee as holder of Parity Liens. 
 SECTION 2.4 Restrictions on Enforcement of Junior Liens. 
 (a) Until the
Discharge of Parity Lien Obligations, the holders of the Notes and the holders of other Parity Lien Obligations will have, subject to the exceptions set forth below in clauses (1) through (4), the exclusive right to authorize and direct the
Collateral Trustee with respect to the Security Documents and the Collateral (including, without limitation, the exclusive right to authorize or direct the Collateral Trustee to enforce, collect or realize on any Collateral or exercise any other
right or remedy with respect to the Collateral) and neither the provisions of the Security Documents relating thereto (other than in accordance with this Agreement), nor any Junior Lien Representative or holder of Junior Lien Obligations, if any,
may, authorize or direct the Collateral Trustee with respect to such matters. Notwithstanding the foregoing, the holders of Junior Lien Obligations may direct the Collateral Trustee with respect to Collateral: 
 (1) without any condition or restriction whatsoever, at any time after the Discharge of Parity Lien Obligations; 

 

 18 

 (2) to deliver any notice or demand necessary to enforce (subject to the
prior Discharge of Parity Lien Obligations) any right to claim, take or receive proceeds of Collateral remaining after the Discharge of Parity Lien Obligations; 
 (3) as necessary to perfect or establish the priority (subject to Parity Liens) of the Junior Liens upon any Collateral;
provided that, unless otherwise agreed to by the Collateral Trustee in the Security Documents, the holders of Junior Lien Obligations may not require the Collateral Trustee to take any action to perfect any Collateral through possession or
control (other than the Collateral Trustee agreeing pursuant to Section 7.4 that the Collateral Trustee, as agent for the benefit of the Parity Lien holders, agrees to act as agent for the Collateral Trustee for the benefit of the holders of
Junior Lien Debt); or 
 (4) as necessary to create, prove, preserve or protect (but not enforce) the Junior
Liens upon any Collateral. 
 (b) Both before and during an Insolvency or Liquidation Proceeding, until the Discharge of Parity
Lien Obligations, none of the holders of Junior Lien Obligations, the Collateral Trustee (unless acting pursuant to an Act of Required Debtholders) or any Junior Lien Representative will be permitted to: 
 (1) request judicial relief, in an Insolvency or Liquidation Proceeding or in any other court, that would hinder, delay,
limit or prohibit the lawful exercise or enforcement of any right or remedy otherwise available to the holders of Parity Lien Obligations in respect of the Parity Liens or that would limit, invalidate, avoid or set aside any Parity Lien or
subordinate the Parity Liens to the Junior Liens or grant the Junior Liens equal ranking to the Parity Liens; 
 (2) oppose or otherwise contest any motion for (A) relief from the automatic stay or (B) any injunction against foreclosure or (C) any enforcement of Parity Liens made by any holder of Parity Lien Obligations or any Parity
Lien Representative in any Insolvency or Liquidation Proceeding; 
 (3) oppose or otherwise contest any lawful
exercise by any holder of Parity Lien Obligations or any Parity Lien Representative of the right to credit bid Parity Lien Obligations at any Sale of Collateral in the foreclosure of Parity Liens; 
 (4) oppose or otherwise contest any other request for judicial relief made in any court by any holder of Parity Lien
Obligations or any Parity Lien Representative relating to the lawful enforcement of any Parity Lien; or 
 (5)
challenge the validity, enforceability, perfection or priority of the Parity Liens with respect to the Collateral. 
  

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 Notwithstanding the foregoing, both before and during an Insolvency or Liquidation Proceeding, the holders
of Junior Lien Obligations or a Junior Lien Representative may take any actions and exercise any and all rights that would be available to a holder of unsecured claims, including, without limitation, the commencement of an Insolvency or Liquidation
Proceeding against EFIH in accordance with applicable law; provided, that no holder of Junior Lien Obligations or any Junior Lien Representative will be permitted to take any of the actions prohibited by clauses (1) through (5) of
this Section 2.4(b) or oppose or contest any order that it has agreed not to oppose or contest under Section 2.8. 
 (c) At any time prior to the Discharge of Parity Lien Obligations and after (1) the commencement of any Insolvency or Liquidation Proceeding in respect of EFIH or (2) the Collateral Trustee and each Junior Lien Representative have
received written notice from any Parity Lien Representative stating that (A) such Series of Parity Lien Debt has become due and payable in full (whether at maturity, upon acceleration or otherwise) or (B) the holders of Parity Liens
securing such Series of Parity Lien Debt have become entitled under any Parity Lien Document to and desire to enforce any or all of such Parity Liens by reason of a default under such Parity Lien Documents, no payment of money (or the equivalent of
money) shall be made from the proceeds of Collateral by EFIH to the Collateral Trustee (other than distributions to the Collateral Trustee in respect of its fees under this Agreement and for the benefit of the holders of Parity Lien Obligations),
any Junior Lien Representative or any holder of Junior Lien Obligations with respect to Junior Lien Obligations (including, without limitation, payments and prepayments made for application to Junior Lien Obligations). In addition, at any time prior
to the Discharge of Parity Lien Obligations, no payment shall be made to the Collateral Trustee (other than distributions to the Collateral Trustee in respect of its fees under this Agreement and for the benefit of the holders of Parity Lien
Obligations), any Junior Lien Representative or any holder of Junior Lien Obligations with respect to Junior Lien Obligations (including, without limitation, payments and prepayments made for application to Junior Lien Obligations) (i) from the
proceeds resulting from a Sale of Collateral, (ii) from any proceeds resulting from any enforcement action taken by any holder of Secured Debt Obligations in respect of all or any of the Collateral or (iii) from the proceeds of Collateral
in violation of the Parity Lien Documents. 
 (d) All proceeds of Collateral received by any Junior Lien Representative or any
holder of Junior Lien Obligations in violation of Section 2.4(c) will be held by such Person in trust for the account of the holders of Parity Lien Obligations and remitted to any Parity Lien Representative upon demand by such Parity Lien
Representative. The Junior Liens will remain attached to and, subject to Section 2.3, enforceable against all proceeds so held or remitted. All proceeds of Collateral received by any Junior Lien Representative or any holder of Junior Lien
Obligations not in violation of Section 2.4(c) will be received by such Person free from the Parity Liens. 
 SECTION 2.5
Waiver of Right of Marshalling. 
 (a) Prior to the Discharge of Parity Lien Obligations, holders of Junior Lien
Obligations, each Junior Lien Representative and the Collateral Trustee may not assert or enforce any right of marshalling accorded to a junior lienholder, as against the holders of Parity Lien Obligations and the Parity Lien Representatives (in
their capacity as senior or priority lienholders) with respect to the Collateral. 
  

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 (b) Following the Discharge of Parity Lien Obligations, the holders of Junior Lien
Obligations and any Junior Lien Representative may assert their right under the UCC or otherwise to any proceeds remaining following a sale or other disposition of Collateral by, or on behalf of, the holders of Parity Lien Obligations. 

SECTION 2.6 Discretion in Enforcement of Parity Liens. 
 (a) Subject to Section 3.3, in exercising rights and remedies with respect to the Collateral, the Parity Lien Representatives may
enforce (or refrain from enforcing) or instruct the Collateral Trustee to enforce the provisions of the Parity Lien Documents and exercise (or refrain from exercising) or instruct the Collateral Trustee to exercise remedies thereunder or any such
rights and remedies, all in such order and in such manner as they may determine in the exercise of their sole and exclusive discretion, including: 
 (1) the exercise or forbearance from exercise of all rights and remedies in respect of the Collateral and/or the Parity Lien Obligations; 
 (2) the enforcement or forbearance from enforcement of any Parity Lien in respect of the Collateral; 
 (3) the exercise or forbearance from exercise of rights and powers of a holder of shares of stock included in the Senior
Trust Estate to the extent provided in the Security Documents; 
 (4) the acceptance of the Collateral in full or
partial satisfaction of the Parity Lien Obligations; and 
 (5) the exercise or forbearance from exercise of all
rights and remedies of a secured lender under the UCC or any similar law of any applicable jurisdiction or in equity. 
 SECTION
2.7 Discretion in Enforcement of Parity Lien Obligations. Without in any way limiting the generality of Section 2.6, the holders of Notes or other Parity Lien Obligations and the Parity Lien Representatives may, at any time and from time
to time, without the consent of or notice to holders of Junior Lien Obligations or the Junior Lien Representatives, without incurring responsibility to holders of Junior Lien Obligations and the Junior Lien Representatives and without impairing or
releasing the subordination provided in this Agreement or the obligations hereunder of holders of Junior Lien Obligations and the Junior Lien Representatives, 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, the Parity Lien
Obligations, or otherwise amend or supplement in any manner the Parity Lien Obligations, or any instrument evidencing the Parity Lien Obligations or any agreement under which the Parity Lien Obligations are outstanding; 
 (2) release any Person or entity liable in any manner for the collection of the Parity Lien Obligations; 
  

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 (3) release the Parity Lien on any Collateral; and 
 (4) exercise or refrain from exercising any rights against any Guarantor. 
 SECTION 2.8 Insolvency or Liquidation Proceedings. 
 (a) If in any Insolvency or Liquidation Proceeding and prior to the Discharge of Parity Lien Obligations, the holders of Parity Lien Obligations by an Act of Required Debtholders consent to any order:

 (1) for use of cash collateral; 
 (2) approving a debtor-in-possession financing secured by a Lien that is senior to or on a parity with all Parity Liens upon
any property of the estate in such Insolvency or Liquidation Proceeding; 
 (3) granting any relief on account of
Parity Lien Obligations as adequate protection (or its equivalent) for the benefit of the holders of Parity Lien Obligations in the Collateral; or 
 (4) relating to a sale of assets of EFIH that provides, to the extent the assets sold are to be free and clear of Liens, that all Parity Liens and Junior Liens will attach to the proceeds of the sale;

 then, the holders of Junior Lien Obligations and the Junior Lien Representatives will not oppose or otherwise contest the entry of such
order, so long as none of the holders of Parity Lien Obligations or any Parity Lien Representative in any respect opposes or otherwise contests any request made by the holders of Junior Lien Obligations or a Junior Lien Representative for the grant
to the Collateral Trustee, for the benefit of the holders of Junior Lien Obligations and the Junior Lien Representatives, of a junior Lien upon any property on which a Lien is (or is to be) granted under such order to secure the Parity Lien
Obligations, co-extensive in all respects with, but subordinated (as set forth in Section 2.3) to, such Lien and all Parity Liens on such property. 
 Notwithstanding the foregoing, both before and during an Insolvency or Liquidation Proceeding, the holders of Junior Lien Obligations and the Junior Lien Representatives may take any actions and exercise
any and all rights that would be available to a holder of unsecured claims, including, without limitation, the commencement of Insolvency or Liquidation Proceedings against EFIH in accordance with applicable law; provided, that, no holder of
Junior Lien Obligations or any Junior Lien Representative will be permitted to take any of the actions prohibited under clauses (1) through (5) of Section 2.4(b) or oppose or contest any order that it has agreed not to oppose or
contest under clauses (1) through (4) of the preceding paragraph. 
 (b) Neither the holders of Junior Lien
Obligations nor any Junior Lien Representative may file or prosecute in any Insolvency or Liquidation Proceeding any motion for adequate protection (or any comparable request for relief) based upon their interest in the Collateral under the Junior
Liens, except that: 
 (1) they may freely seek and obtain relief granting a Junior Lien co-extensive in all
respects with, but subordinated (as set forth in Section 2.3) to, all Liens granted in such Insolvency or Liquidation Proceeding to, or for the benefit of, the holders of Parity Lien Obligations; and 
  

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 (2) they may freely seek and obtain any relief upon a motion for adequate
protection (or any comparable relief), without any condition or restriction whatsoever, at any time after the Discharge of Parity Lien Obligations. 
 SECTION 2.9 Collateral Shared Equally and Ratably within Class. The parties to this Agreement agree that the payment and satisfaction of all of the Parity Lien Obligations and Junior Lien
Obligations will be secured Equally and Ratably by the Liens established in favor of the Collateral Trustee for the benefit of the Secured Parties belonging to such Class. It is understood and agreed that nothing in this Section 2.9 is intended
to alter the priorities among Secured Parties belonging to different Classes as provided in Section 2.3. 
 ARTICLE 3.
OBLIGATIONS AND POWERS OF COLLATERAL TRUSTEE 
 SECTION 3.1 Undertaking of the Collateral Trustee. 
 (a) Subject to, and in accordance with, this Agreement, including without limitation Section 5.3, the Collateral Trustee will, as
collateral trustee, for the benefit solely and exclusively of the current and future Secured Parties: 
 (1)
accept, enter into, hold, maintain, administer and enforce all Security Documents, including all Collateral subject thereto, and all Liens created thereunder, perform its obligations under the Security Documents and protect, exercise and enforce the
interests, rights, powers and remedies granted or available to it under, pursuant to or in connection with the Security Documents; 
 (2) take all lawful and commercially reasonable actions permitted under the Security Documents that it may deem necessary to protect or preserve its interest in the Collateral subject thereto and such
interests, rights, powers and remedies; 
 (3) deliver and receive notices pursuant to the Security Documents;

 (4) sell, assign, collect, assemble, foreclose on, institute legal proceedings with respect to, or otherwise
exercise or enforce the rights and remedies of a secured party (including a mortgagee, trust deed beneficiary and insurance beneficiary or loss payee) with respect to the Collateral under the Security Documents and its other interests, rights,
powers and remedies; 
 (5) remit as provided in Section 3.4 all cash proceeds received by the Collateral
Trustee from the collection, foreclosure or enforcement of its interest in the Collateral under the Security Documents or any of its other interests, rights, powers or remedies; 
  

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 (6) execute and deliver amendments to the Security Documents as from time to
time authorized pursuant to Section 7.1 accompanied by an Officer’s Certificate to the effect that the amendment was permitted under Section 7.1; and 
 (7) release any Lien granted to it by any Security Document upon any Collateral if and as required by Section 4.1.

 (b) Each party to this Agreement acknowledges and consents to the undertaking of the Collateral Trustee set forth in
Section 3.1(a) and agrees to each of the other provisions of this Agreement applicable to the Collateral Trustee. 
 (c)
Notwithstanding anything to the contrary contained in this Agreement, the Collateral Trustee will not commence any exercise of remedies or any foreclosure actions or otherwise take any action or proceeding against any of the Collateral (other than
actions as necessary to prove, protect or preserve (but not enforce) the Liens securing the Secured Debt Obligations, subject to Section 5.9 of this Agreement) unless and until it shall have been directed by an Act of Required Debtholders, and
then only in accordance with the provisions of this Agreement. 
 (d) The Collateral Trustee shall be under no obligation to
exercise any of its rights or powers under this Agreement or any Security Document at the request or direction of any holder of Secured Debt unless such holders of Secured Debt shall have offered to the Collateral Trustee indemnity or security
reasonably satisfactory to it against any loss, liability or expense. 
 SECTION 3.2 Release or Subordination of Liens.
The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: 
 (a) as directed by an Act of Required Debtholders accompanied by an Officer’s Certificate to the effect that the release or
subordination was permitted by each applicable Secured Debt Document; 
 (b) as required by Article 4; 
 (c) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or

 (d) for the subordination of the Junior Trust Estate and the Junior Liens to the Senior Trust Estate and the Parity Liens.

 SECTION 3.3 Enforcement of Liens. 
 (a) If the Collateral Trustee at any time receives written notice stating that any event has occurred that constitutes a default under any Secured Debt Document entitling the Collateral Trustee to
foreclose upon, collect or otherwise enforce its Liens thereunder, the Collateral Trustee will promptly deliver written notice thereof to each Secured Debt Representative. Thereafter, the Collateral Trustee will await direction by an Act of Required

  

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Debtholders and will act, or decline to act, as directed by an Act of Required Debtholders, in the exercise and enforcement of the Collateral Trustee’s interests, rights, powers and remedies
in respect of the Collateral or under the Security Documents or applicable law and, following the initiation of such exercise of remedies, the Collateral Trustee will act, or decline to act, with respect to the manner of such exercise of remedies as
directed by an Act of Required Debtholders. Unless it has been directed to the contrary by an Act of Required Debtholders, the Collateral Trustee in any event may (but will not be obligated to) take or refrain from taking such action with respect to
any default under any Secured Debt Document as it may deem advisable to preserve and protect the value of the Collateral. 
 (b)
Regulatory approvals may be required in order to enforce the security interests against the Collateral and to dispose of an interest in, or operational control of, the Collateral that secures the EFIH Notes and EFIH’s guarantee of the EFH
Notes. 
 The Collateral securing the EFIH Notes and EFIH’s guarantee of the EFH Notes will include all of the membership
interests of Oncor Electric Delivery Holdings Company LLC (“Oncor Holdings”), which are held by EFIH. Pursuant to the Public Utility Regulatory Act (“PURA”), Texas Utilities Code §§39.262(l)
and 39.915, an electric utility must obtain prior approval of the Public Utility Commission of Texas (“PUCT”) of any change in majority ownership, controlling ownership or operational control of Oncor Electric Delivery
Company LLC (“Oncor”). As a result, prior to any foreclosure on the membership interests of Oncor Holdings, approval of the PUCT may be required for a change in ownership or control of Oncor Holdings. Pursuant to PURA
§§39.262(m) and 39.915(b), the PUCT will approve such a transfer if it finds that the transaction is in the public interest. In making its determination, these sections of PURA provide that the PUCT will consider whether the transaction
will adversely affect the reliability of service, availability of service or cost of service of Oncor. Therefore, in connection with any action taken to enforce the security against the Collateral, such approval may not be granted and, if it were to
be granted, it is not known how long such approval would take to obtain. Even if the approval were granted to foreclose on the Collateral, then additional prior PUCT approval may also be required for any subsequent change in majority ownership,
controlling ownership or operational control in the membership interests of Oncor Holdings. 
 (c) In addition, pursuant to the
terms of an investor rights agreement, among EFH, Oncor Holdings, Oncor and Texas Transmission Investment LLC (“Texas Transmission”), the noncontrolling investor in Oncor, any transfer of the equity interests in Oncor
Holdings to a third party, including as a result of any enforcement of the lien on the Collateral securing the EFIH Notes and EFIH’s guarantee of the EFH Notes, may be limited and give rise to a tag-along right of Texas Transmission to
participate in that transfer on a pro rata basis, which may hinder the enforcement of the lien on the Collateral in a timely manner, if at all. 
 SECTION 3.4 Application of Proceeds. 
 (a) If any Collateral is sold or
otherwise realized upon by the Collateral Trustee in connection with any foreclosure, collection or other enforcement of Parity Liens or Junior Liens granted to the Collateral Trustee in the Security Documents, the proceeds received by the
Collateral Trustee from such foreclosure, collection or other enforcement will be distributed by the Collateral Trustee in the following order of application: 
 FIRST, to the payment of all amounts payable under this Agreement on account of the Collateral Trustee’s fees and any
reasonable legal fees, costs and expenses or other liabilities of any kind incurred by the Collateral Trustee or any co-trustee or agent of the Collateral Trustee in connection with any Security Document; 
  

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 SECOND, ratably to the respective Parity Lien Representatives for
application, after payment of any fees and expenses (including but not limited to, attorney’s fees and expenses) of such Parity Lien Representative, to the payment of all outstanding Notes and other Parity Lien Debt and any other Parity Lien
Obligations that are then due and payable in such order as may be provided in the relevant Parity Lien Documents in an amount sufficient to pay in full in cash all outstanding Notes and other Parity Lien Debt and all other Parity Lien Obligations
that are then due and payable (including all interest accrued thereon after the commencement of any Insolvency or Liquidation Proceeding at the rate, including any applicable post-default rate, specified in the relevant Parity Lien Documents, even
if such interest is not enforceable, allowable or allowed as a claim in such proceeding, and including the discharge or cash collateralization (at the lower of (1) 105% of the aggregate undrawn amount and (2) the percentage of the
aggregate undrawn amount required for release of Liens under the terms of the applicable Parity Lien Document) of all outstanding letters of credit constituting Parity Lien Debt); 
 THIRD, to the respective Junior Lien Representatives for application to the payment of all outstanding Junior Lien Debt and
any other Junior Lien Obligations that are due and payable in such order as may be provided in the Junior Lien Documents in an amount sufficient to pay in full in cash all outstanding Junior Lien Debt and all other Junior Lien Obligations that are
then due and payable (including all interest accrued thereon after the commencement of any Insolvency or Liquidation Proceeding at the rate, including any applicable post-default rate, specified in the Junior Lien Documents, even if such interest is
not enforceable, allowable or allowed as a claim in such proceeding, and including the discharge or cash collateralization (at the lower of (1) 105% of the aggregate undrawn amount and (2) the percentage of the aggregate undrawn amount
required for release of Liens under the terms of the applicable Junior Lien Document) of all outstanding letters of credit, if any, constituting Junior Lien Debt); and 
 FOURTH, any surplus remaining after the payment in full in cash of the amounts described in the preceding clauses will be
paid to EFIH, or its successors or assigns, or as a court of competent jurisdiction may direct. 
 If any Junior
Lien Representative or any holder of a Junior Lien Obligation collects or receives any proceeds in respect of any foreclosure, collection or other enforcement to which it was not entitled pursuant to the terms of the immediately preceding
paragraphs, whether after the commencement of any Insolvency or Liquidation Proceeding or otherwise, such Junior Lien Representative or such holder of a Junior Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral
Trustee to be applied in accordance with the provisions set forth in the immediately preceding paragraphs. Until so delivered, such proceeds will be held by that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may
be, in trust for the benefit of the holders of the Parity Lien Obligations. These provisions will not apply to payments received by any holder of Junior Lien Obligations if such payments are not proceeds of, or the result of a realization upon,
Collateral. 
  

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 This Section 3.4(a) is intended for the benefit of, and will be
enforceable as a third party beneficiary by, each present and future holder of Secured Debt Obligations, each present and future Secured Debt Representative and the Collateral Trustee as holder of Parity Liens and Junior Liens. The Secured Debt
Representative of each future Series of Secured Lien Debt will be required to deliver a Collateral Trust Joinder, including a Lien Sharing and Priority Confirmation, to the Collateral Trustee and each other Secured Debt Representative as provided in
Section 3.8 at the time of incurrence of such Series of Secured Lien Debt. 
 In connection with the
application of proceeds pursuant to Section 3.4(a), except as otherwise directed by an Act of Required Debtholders, the Collateral Trustee may sell any non-cash proceeds for cash prior to the application of the proceeds thereof. 
 SECTION 3.5 Powers of the Collateral Trustee. 
 (a) The Collateral Trustee is irrevocably authorized and empowered to enter into and perform its obligations and protect, perfect, exercise and enforce its interest, rights, powers and remedies under the
Security Documents and applicable law and in equity and to act as set forth in this Article 3 or as requested in any lawful directions given to it from time to time in respect of any matter by an Act of Required Debtholders, as applicable, in
accordance with the provisions of this Agreement. 
 (b) No Secured Debt Representative or holder of Secured Debt Obligations
will have any liability whatsoever for any act or omission of the Collateral Trustee. 
 SECTION 3.6 Documents and
Communications. The Collateral Trustee will permit each Secured Debt Representative and each holder of Secured Debt Obligations upon reasonable written notice from time to time to inspect and copy, at the cost and expense of the party requesting
such copies, any and all Security Documents and other documents, notices, certificates, instructions or communications received by the Collateral Trustee in its capacity as such. 
 SECTION 3.7 For Sole and Exclusive Benefit of Holders of Secured Debt Obligations. The Collateral Trustee will accept, hold,
administer and enforce all Liens on the Collateral at any time transferred or delivered to it and all other interests, rights, powers and remedies at any time granted to or enforceable by the Collateral Trustee and all other property of the Trust
Estates solely and exclusively for the benefit of the current and future holders of current and future Secured Debt Obligations, and will distribute all proceeds received by it in realization thereon or from enforcement thereof solely and
exclusively pursuant to the provisions of Section 3.4. 
 SECTION 3.8 Additional Secured Debt. 
 (a) The Collateral Trustee will, as collateral trustee hereunder, perform its undertakings set forth in Section 3.1(a) with respect to
each holder of Secured Debt Obligations of a Series of Secured Lien Debt that is issued or incurred after the date hereof (including any refinancing or replacement of a Series of Secured Lien Debt) that: 
 (1) holds Secured Debt Obligations that are identified as Junior Lien Debt or Parity Lien Debt in accordance with the
procedures set forth in Section 3.8(b); and 
  

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 (2) signs, through its designated Secured Debt Representative identified
pursuant to Section 3.8(b), a Collateral Trust Joinder and delivers the same to the Collateral Trustee and each other Secured Debt Representative at the time of incurrence of such Series of Secured Lien Debt. 
 (b) EFH and EFIH will be permitted to designate as an additional holder of Secured Debt Obligations hereunder each Person who is, or who
becomes, the registered holder of Junior Lien Debt or the registered holder of Parity Lien Debt incurred by EFH or EFIH after the date of this Agreement in accordance with the terms of all applicable Secured Debt Documents. The Company may only
effect such designation by delivering to the Collateral Trustee and each Secured Debt Representative an Additional Secured Debt Designation stating that: 
 (1) EFH or EFIH intends to incur additional Secured Debt (“Additional Secured Debt”) which will either be (i) Parity Lien Debt permitted by each applicable
Secured Debt Document to be secured by a Parity Lien Equally and Ratably with all previously existing and future Parity Lien Debt or (ii) Junior Lien Debt permitted by each applicable Secured Debt Document to be secured with a Junior Lien
Equally and Ratably with all previously existing and future Junior Lien Debt; 
 (2) specifying the name and
address of the Secured Debt Representative for such series of Additional Secured Debt for purposes of Section 7.7; and 
 (3) EFH or EFIH, as applicable, has duly authorized, executed (if applicable) and recorded (or caused to be recorded) in each appropriate governmental office all relevant filings and recordations to
ensure that the Additional Secured Debt is secured by the Collateral in accordance with the Security Documents. 
 Although EFIH
shall be required to deliver a copy of each Additional Secured Debt Designation and each Collateral Trust Joinder to each then existing Secured Debt Representative, the failure to so deliver a copy of the Additional Secured Debt Designation and/or
Collateral Trust Joinder to any then existing Secured Debt Representative shall not affect the status of such debt as Additional Secured Debt if the other requirements of this Section 3.8 are complied with. Notwithstanding the foregoing,
nothing in this Agreement will be construed to allow EFH or EFIH to incur additional Indebtedness unless otherwise permitted by the terms of all applicable Secured Debt Documents. 
 The Security Documents creating or evidencing the Parity Liens and the Junior Liens and Guarantees for the Parity Lien Obligations and the
Junior Lien Obligations shall be in all material respects the same forms of documents other than with respect to the first lien and the second lien nature of the Obligations thereunder. 
  

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 ARTICLE 4. OBLIGATIONS ENFORCEABLE BY EFIH 
 SECTION 4.1 Release of Liens on Collateral. 
 (a) The Collateral Trustee’s Liens upon the Collateral will be released: 
 (1) in whole, upon (A) payment in full of all outstanding Secured Debt Obligations at the time such debt is paid in full and (B) termination or expiration of all commitments to extend credit
under all Secured Debt Documents and the cancellation or termination or cash collateralization in an account maintained by the Collateral Trustee (at the lower of (1) 105% of the aggregate undrawn amount and (2) the percentage of the
aggregate undrawn amount required for release of Liens under the terms of the applicable Secured Debt Documents) of all outstanding letters of credit issued pursuant to any Secured Debt Documents; provided that EFH has delivered an
Officer’s Certificate to the Collateral Trustee certifying that the conditions described in this paragraph 1 have been met and that such release of the Collateral does not violate the terms of any applicable Secured Debt Document;

 (2) with respect to the Note Obligations only, upon satisfaction and discharge of the EFH Indenture as set
forth in Section 12.01 of the EFH Indenture or the EFIH Indenture as set forth in Section 12.01 of the EFIH Indenture; 
 (3) with respect to the Note Obligations only, upon a Legal Defeasance or Covenant Defeasance as set forth in Article 8 of the EFH Indenture and/or Article 8 of the EFIH Indenture, as applicable;

 (4) with respect to the Note Obligations only, upon payment in full of the Notes and all other Note
Obligations that are outstanding, due and payable at the time the Notes are paid in full; 
 (5) with respect to
any Secured Debt Obligations (other than Note Obligations) only, upon payment in full of such Secured Debt and all other Secured Debt Obligations in respect thereof that is outstanding, due and payable at the time such Secured Debt is paid in full;

 (6) as to a release of all or substantially all of the Collateral, if (a) consent to
the release of that Collateral has been given by holders of 66 2/3% of the aggregate principal amount of Parity Lien Debt at the time outstanding voting together as one class, as provided for in the applicable Secured Debt Documents; provided that if an Event of
Default under the Notes or an event of default with respect to any other Secured Debt has occurred and is continuing at the time of the solicitation of any such consent, the consent of holders of 66 2/3% of the aggregate principal amount of Secured Debt as the time
outstanding voting together as one class shall also be required, and (b) EFIH has delivered an Officer’s Certificate to the Collateral Trustee certifying that any such necessary consents have been obtained and that such release of the
Collateral does not violate the terms of any applicable Secured Debt Document; 
  

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 (7) as to a release of less than all or substantially all of the Collateral,
if (A) consent to the release of all Parity Liens (or, at any time after the Discharge of Parity Lien Obligations, consent to the release of all Junior Liens) on such Collateral has been given by holders of a majority of the aggregate principal
amount of Parity Lien Debt at the time outstanding voting as one class, as provided for in the Parity Lien Documents (or, at any time after the Discharge of Parity Lien Obligations, holders of a majority of the aggregate principal amount of the
Junior Lien Debt at the time outstanding voting together as one class, as provided for in the Junior Lien Documents) and (B) EFIH has delivered an Officer’s Certificate to the Collateral Trustee certifying that any such necessary consents
have been obtained and that such release of the Collateral does not violate the terms of any applicable Secured Debt Document; 
 (8) as to any Collateral that is sold, transferred or otherwise disposed of by EFIH in a transaction or other circumstance that is not prohibited by the terms of any applicable Secured Debt Document, at
the time of, or immediately prior to, such sale, transfer or other disposition; provided that EFIH has delivered an Officer’s Certificate to the Collateral Trustee certifying that any such sale, transfer or other disposition does not
violate the terms of any applicable Secured Debt Document; or 
 (9) with respect to the Note Obligations only,
in whole or in part, with the consent of the Holders of the requisite percentage of Notes in accordance with Section 9.02 of the EFH Indenture and Section 9.02 of the EFIH Indenture and upon delivery of instructions and any other
documentation, in each case as required by the Indenture and the Security Documents, in a form satisfactory to the Collateral Trustee. 
 and,
in each case, upon request of EFIH, at EFIH’s expense, the Collateral Trustee will execute (with such acknowledgements and/or notarizations as are required) any such documents as provided by EFIH and deliver evidence of such release to EFIH in
the form provided by EFIH; provided, however, to the extent EFIH requests the Collateral Trustee to deliver evidence of the release of the Collateral in accordance with this Section 4.1(a), EFIH will deliver to the Collateral Trustee an
Officer’s Certificate to the effect that no release of Collateral pursuant to this Section 4.1(a) violated the terms of any Secured Debt Documents. 
 (b) Other than with respect to any release pursuant to clause (2), (3), (4), (5) or (9) of Section 4.1(a) hereof, the Collateral Trustee agrees for the benefit of EFIH that if the
Collateral Trustee at any time receives: 
 (1) an Officer’s Certificate stating that (A) the signing
officer has read Article 4 of this Agreement and understands the provisions and the definitions relating hereto, (B) such officer has made such examination or investigation as is necessary to enable him or her to express an informed
opinion as to whether or not the conditions precedent in this Agreement and all other Secured Debt Documents, if any, relating to the release of the Collateral have been complied with and (C) in the opinion of such officer, such conditions
precedent, if any, have been complied with; and 
  

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 (2) the proposed instrument or instruments releasing such Lien as to such
property in recordable form, if applicable; 
 then the Collateral Trustee, EFIH’s expense, will execute (with such acknowledgements and/or
notarizations as are required) and deliver such release to EFIH on or before the later of (x) the date specified in such request for such release and (y) the fifth Business Day after the date of receipt of the items required by this
Section 4.1(c) by the Collateral Trustee. 
 (c) The Collateral Trustee hereby agrees that: 
 (1) in the case of any release pursuant to clause (8) of Section 4.1(a), if the terms of any such sale, transfer or
other disposition require the payment of the purchase price to be contemporaneous with the delivery of the applicable release, then, at the written request of and at the expense of EFIH, the Collateral Trustee will either (A) be present at and
deliver the release at the closing of such transaction or (B) deliver the release under customary escrow arrangements that permit such contemporaneous payment and delivery of the release; and 
 (2) at any time when a Secured Debt Default under a Series of Secured Lien Debt that constitutes Junior Lien Debt has
occurred and is continuing, promptly after the receipt by it of any Act of Required Debtholders pursuant to Section 4.1(a)(5), the Collateral Trustee will deliver a copy of such Act of Required Debtholders to each Secured Debt Representative.

 (d) Each Secured Debt Representative hereby agrees that promptly after the receipt by it of any notice from the Collateral
Trustee pursuant to Section 4.1(c)(2), such Secured Debt Representative will deliver a copy of such notice to each registered holder of the Series of Parity Lien Debt or Series of Junior Lien Debt for which it acts as Secured Debt
Representative. 
 SECTION 4.2 Delivery of Copies to Secured Debt Representatives. The Company will deliver to each
Secured Debt Representative a copy of (i) each Secured Debt Document and (ii) each Officer’s Certificate delivered to the Collateral Trustee pursuant to Section 4.1(b), together with copies of all documents delivered to the
Collateral Trustee with such Officer’s Certificate. 
 SECTION 4.3 Collateral Trustee not Required to Serve, File,
Register or Record. The Collateral Trustee is not required to serve, file, register or record any instrument releasing or subordinating its Liens on any Collateral; provided, however, that if, in connection with any release pursuant to
Article 4 of this Agreement, EFIH shall make a written demand for a termination statement under Section 9-513(c) of the UCC, the Collateral Trustee shall comply with the written request of such EFIH to comply with the requirements of such UCC
provision; provided, further, that the Collateral Trustee must first confirm with the Secured Debt Representatives that the requirements of such UCC provisions have been satisfied. 
 ARTICLE 5. IMMUNITIES OF THE COLLATERAL TRUSTEE 
 SECTION 5.1 No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly

  

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assumed by it in this Agreement and the other Security Documents to which it is a party. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any
provision of this Agreement or the other Security Documents to which it is a party. 
 SECTION 5.2 Appointment of Agents and
Advisors. The Collateral Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents, attorneys, accountants, appraisers or other experts or advisors selected by it in good
faith as it may reasonably require and will not be responsible for any misconduct or negligence on the part of any of them. 
 SECTION 5.3 Other Agreements. The Collateral Trustee has accepted and is bound by the Security Documents executed by the Collateral Trustee as of the date of this Agreement and, as directed by an Act of Required
Debtholders, the Collateral Trustee shall execute additional Security Documents delivered to it after the date of this Agreement; provided, however, that such additional Security Documents do not adversely affect the rights, privileges,
benefits and immunities of the Collateral Trustee. The Collateral Trustee will not otherwise be bound by, or be held obligated by, the provisions of any credit agreement, indenture or other agreement governing Secured Debt (other than this
Agreement and the other Security Documents to which it is a party). 
 SECTION 5.4 Solicitation of Instructions.

 (a) The Collateral Trustee may at any time solicit written confirmatory instructions, in the form of an Act of Required
Debtholders, an Officer’s Certificate or an order of a court of competent jurisdiction, as to any action that it may be requested or required to take, or that it may propose to take, in the performance of any of its obligations under this
Agreement or the other Security Documents. 
 (b) No written direction given to the Collateral Trustee by an Act of Required
Debtholders, that in the reasonable judgment of the Collateral Trustee imposes, purports to impose or might reasonably be expected to impose upon the Collateral Trustee any obligation or liability not set forth in or arising under this Agreement and
the other Security Documents will be binding upon the Collateral Trustee unless the Collateral Trustee elects, at its sole option, to accept such direction. 
 SECTION 5.5 Limitation of Liability. The Collateral Trustee will not be responsible or liable for any action taken or omitted to be taken by it hereunder or under any other Security Document,
except for its own gross negligence, bad faith or willful misconduct as determined by a court of competent jurisdiction. 
 SECTION 5.6 Documents in Satisfactory Form. The Collateral Trustee will be entitled to require that all agreements, certificates, opinions, instruments and other documents at any time submitted to it, including those expressly
provided for in this Agreement, be delivered to it in a form and with substantive provisions reasonably satisfactory to it. 
 SECTION 5.7 Entitled to Rely. The Collateral Trustee may seek and rely upon, and shall be fully protected in relying upon, any judicial order or judgment, upon any advice, opinion or statement of legal counsel, independent
consultants and other experts selected

  

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by it in good faith and upon any certification, instruction, notice or other writing delivered to it by EFIH in compliance with the provisions of this Agreement or delivered to it by any Secured
Debt Representative as to the holders of Secured Debt Obligations for whom it acts, without being required to determine the authenticity thereof or the correctness of any fact stated therein or the propriety or validity of service thereof. The
Collateral Trustee may act in reliance upon any instrument comporting with the provisions of this Agreement or any signature reasonably believed by it to be genuine and may assume that any Person purporting to give notice or receipt or advice or
make any statement or execute any document in connection with the provisions hereof or the other Security Documents has been duly authorized to do so. To the extent an Officer’s Certificate or opinion of counsel is required or permitted under
this Agreement to be delivered to the Collateral Trustee in respect of any matter, the Collateral Trustee may rely conclusively on an Officer’s Certificate or opinion of counsel as to such matter and such Officer’s Certificate or opinion
of counsel shall be full warranty and protection to the Collateral Trustee for any action taken, suffered or omitted by it under the provisions of this Agreement and the other Security Documents. 
 SECTION 5.8 Secured Debt Default. The Collateral Trustee will not be required to inquire as to the occurrence or absence of any
Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required Debtholders. 
 SECTION 5.9 Actions by Collateral Trustee. As to any matter not expressly provided for by this Agreement or the other Security
Documents, the Collateral Trustee will act or refrain from acting as directed by an Act of Required Debtholders and will be fully protected if it does so, and any action taken, suffered or omitted pursuant hereto or thereto shall be binding on the
holders of Secured Debt Obligations. 
 SECTION 5.10 Security or Indemnity in Favor of the Collateral Trustee. The
Collateral Trustee will not be required to advance or expend any funds or otherwise incur any financial liability in the performance of its duties or the exercise of its powers or rights hereunder unless it has been provided with security or
indemnity reasonably satisfactory to it against any and all liability or expense which may be incurred by it by reason of taking or continuing to take such action. 
 SECTION 5.11 Rights of the Collateral Trustee. In the event there is any bona fide, good faith disagreement between the other parties to this Agreement or any of the other Security Documents
resulting in adverse claims being made in connection with Collateral held by the Collateral Trustee and the terms of this Agreement or any of the other Security Documents do not unambiguously mandate the action the Collateral Trustee is to take or
not to take in connection therewith under the circumstances then existing, or the Collateral Trustee is in doubt as to what action it is required to take or not to take hereunder or under the other Security Documents, it will be entitled to refrain
from taking any action (and will incur no liability for doing so) until directed otherwise in writing by a request signed jointly by the parties hereto entitled to give such direction or by order of a court of competent jurisdiction. 
  

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 SECTION 5.12 Limitations on Duty of Collateral Trustee in Respect of Collateral.

 (a) Beyond the exercise of reasonable care in the custody of Collateral in its possession, the Collateral Trustee will have
no duty as to any Collateral in its possession or control or in the possession or control of any agent or bailee or any income thereon or as to preservation of rights against prior parties or any other rights pertaining thereto and the Collateral
Trustee will not be responsible for filing any financing or continuation statements or recording any documents or instruments in any public office at any time or times or otherwise perfecting or maintaining the perfection of any Liens on the
Collateral. The Collateral Trustee will be deemed to have exercised reasonable care in the custody of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which it accords its own property, and the
Collateral Trustee will not be liable or responsible for any loss or diminution in the value of any of the Collateral by reason of the act or omission of any carrier, forwarding agency or other agent or bailee selected by the Collateral Trustee in
good faith. 
 (b) The Collateral Trustee will not be responsible for the existence, genuineness or value of any of the
Collateral or for the validity, perfection, priority or enforceability of the Liens in any of the Collateral, whether impaired by operation of law or by reason of any action or omission to act on its part hereunder, except to the extent such action
or omission constitutes gross negligence, bad faith or willful misconduct on the part of the Collateral Trustee, for the validity or sufficiency of the Collateral or any agreement or assignment contained therein, for the validity of the title of
EFIH or any Successor Company to the Collateral, for insuring the Collateral or for the payment of taxes, charges, assessments or Liens upon the Collateral or otherwise as to the maintenance of the Collateral. The Collateral Trustee hereby disclaims
any representation or warranty to the present and future holders of the Secured Debt Obligations concerning the perfection of the Liens granted hereunder or in the value of any of the Collateral. 
 (c) In no event shall the Collateral 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 Collateral Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 
 SECTION 5.13 Assumption of Rights, Not Assumption of Duties. Notwithstanding anything to the contrary contained herein: 

(1) each of the parties thereto will remain liable under each of the Security Documents (other than this Agreement) to the
extent set forth therein to perform all of their respective duties and obligations thereunder to the same extent as if this Agreement had not been executed; 
 (2) the exercise by the Collateral Trustee of any of its rights, remedies or powers hereunder will not release such parties
from any of their respective duties or obligations under the other Security Documents; and 
  

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 (3) the Collateral Trustee will not be obligated to perform any of the
obligations or duties of any of the parties thereunder other than the Collateral Trustee. 
 SECTION 5.14 No Liability for
Clean Up of Hazardous Materials. In the event that the Collateral Trustee is required to acquire title to an asset for any reason, or take any managerial action of any kind in regard thereto, in order to carry out any fiduciary or trust
obligation for the benefit of another, which in the Collateral Trustee’s sole discretion may cause the Collateral Trustee to be considered an “owner or operator” under any environmental laws or otherwise cause the Collateral Trustee
to incur, or be exposed to, any environmental liability or any liability under any other federal, state or local law, the Collateral Trustee reserves the right, instead of taking such action, either to resign as Collateral Trustee or to arrange for
the transfer of the title or control of the asset to a court appointed receiver. The Collateral Trustee will not be liable to any Person for any environmental liability or any environmental claims or contribution actions under any federal, state or
local law, rule or regulation by reason of the Collateral Trustee’s actions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge or release or threatened discharge or release of any hazardous
materials into the environment. 
 ARTICLE 6. RESIGNATION AND REMOVAL OF THE COLLATERAL TRUSTEE 
 SECTION 6.1 Resignation or Removal of Collateral Trustee. Subject to the appointment of a successor Collateral Trustee as provided in
Section 6.2 and the acceptance of such appointment by the successor Collateral Trustee: 
 (a) the Collateral Trustee may
resign at any time by giving notice of resignation to each Secured Debt Representative and EFIH; and 
 (b) the Collateral
Trustee may be removed at any time, with or without cause, by an Act of Required Debtholders. 
 SECTION 6.2 Appointment of
Successor Collateral Trustee. 
 (a) Upon any resignation or removal of the Collateral Trustee pursuant to Section 6.1,
a successor Collateral Trustee may be appointed by EFIH, so long as no Secured Debt Default has occurred and is continuing and if a Secured Debt Default has occurred and is continuing, by an Act of the Required Debtholders. Within one year after a
successor Collateral Trustee appointed by EFIH takes office, the holders of Secured Debt may, by an Act of Required Debtholders appoint a successor Collateral Trustee to replace the successor Collateral Trustee appoint by EFIH. If no successor
Collateral Trustee has been so appointed and accepted such appointment within 45 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of EFIH), at its option,
appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: 
 (1) authorized to exercise corporate trust powers; 
 (2) having a combined capital and surplus of at least $100,000,000; and 
  

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 (3) maintaining an office in any state of the United States. 
 (b) The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this
Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied. 
 SECTION 6.3 Succession. When the Person so appointed as successor Collateral Trustee pursuant Section 6.2 accepts such appointment: 
 (1) such Person will succeed to and become vested with all the rights, powers, privileges and duties of the predecessor Collateral Trustee, and the predecessor Collateral Trustee will be discharged from
its duties and obligations hereunder; and 
 (2) the predecessor Collateral Trustee will (at the expense of EFIH)
promptly transfer all Liens and collateral security and other property of the Trust Estates within its possession or control to the possession or control of the successor Collateral Trustee and will execute instruments and assignments as may be
necessary or reasonably requested by the successor Collateral Trustee to transfer to the successor Collateral Trustee all Liens, interests, rights, powers and remedies of the predecessor Collateral Trustee in respect of the Security Documents or the
Trust Estates. 
 Thereafter the predecessor Collateral Trustee will remain entitled to enforce the immunities granted to it in Article 5
and the provisions of Sections 7.10 and 7.11. 
 SECTION 6.4 Merger, Conversion or Consolidation of Collateral
Trustee. Any Person into which the Collateral Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Collateral Trustee shall be a party, or any
Person succeeding to the business of the Collateral Trustee shall be the successor of the Collateral Trustee pursuant to Section 6.3, provided that (i) without the execution or filing of any paper with any party hereto or any
further act on the part of any of the parties hereto, except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding, such Person satisfies the eligibility
requirements specified in clauses (1) through (3) of Section 6.2 and (ii) prior to any such merger, conversion or consolidation, the Collateral Trustee shall have notified EFIH, each Parity Lien Representative and each Junior
Lien Representative thereof in writing. 
 ARTICLE 7. MISCELLANEOUS PROVISIONS 
 SECTION 7.1 Amendment. 
 (a) No amendment or supplement to the provisions of this Agreement or any other Security Document will be effective without the approval of the Collateral Trustee acting as directed by an Act of Required
Debtholders, except that: 
 (1) any amendment or supplement that has the effect solely of (i) adding or
maintaining Collateral, securing additional Secured Debt that was otherwise permitted by the terms of the Secured Debt Documents to be secured by the Collateral or

  

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preserving, perfecting or establishing the priority of the Liens thereon or the rights of the Collateral Trustee therein, (ii) curing any ambiguity, defect or inconsistency;
(iii) providing for the assumption of EFIH’s obligations under any Security Document in the case of a merger or consolidation or sale of all or substantially all of EFIH’s assets; or (iv) making any change that would provide any
additional rights or benefits to the holders of Secured Debt Obligations, the Secured Debt Representatives or the Collateral Trustee or that does not adversely affect the legal rights under any Secured Debt Document of any holder of Secured Debt
Obligations, the Secured Debt Representatives or the Collateral Trustee, will, in each case, become effective when executed and delivered by EFIH and the Collateral Trustee; 
 (2) no amendment or supplement that reduces, impairs or adversely affects the right of any holder of Secured Debt
Obligations: 
 (A) to vote its outstanding Secured Debt as to any matter requiring (i) an Act of Required
Debtholders or (ii) direction by the Required Parity Lien Debtholders or the Required Junior Lien Debtholders, (or amends the provisions of this clause (2) or the definition of “Act of Required Debtholders,”
“Required Parity Lien Debtholders” or “Required Junior Lien Debtholders”), 
 (B) to share, in the order of application described in Section 3.4, in the proceeds of enforcement of or realization on any Collateral that has not been released in accordance with the provisions described in Section 4.1, or

 (C) to require that Liens securing Secured Debt Obligations be released only as set forth in the provisions
described in Section 4.1, 
 will become effective without the consent of the requisite percentage or number of holders of each Series of
Secured Lien Debt so affected under the applicable Secured Debt Documents; and 
 (3) no amendment or supplement
that imposes any obligation upon the Collateral Trustee or any Secured Debt Representative or adversely affects the rights of the Collateral Trustee, as determined by the Collateral Trustee in its sole discretion, or any Secured Debt Representative,
respectively, in its individual capacity as such will become effective without the consent of the Collateral Trustee or such Secured Debt Representative, respectively. 
 (b) Notwithstanding Section 7.1(a) but subject to Sections 7.1(a)(2) and 7.1(a)(3): 
 (1) any Security Document that secures Junior Lien Obligations (but not Parity Lien Obligations) may be amended or supplemented with the approval of the Collateral Trustee acting as directed in writing by
the Required Junior Lien Debtholders, unless such amendment or supplement would not be permitted under the terms of this Agreement or the other Parity Lien Documents; and 
  

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 (2) any amendment or waiver of, or any consent under, any provision of this
Agreement or any other Security Document that secures Parity Lien Obligations (except any such amendment, waiver or consent that releases Collateral with respect to which any consent of holders of Junior Lien Debt is required pursuant to this
Agreement, which will be governed by the provision in Section 7.1(a)) will apply automatically to any comparable provision of any comparable Junior Lien Document without the consent of or notice to any holder of Junior Lien Obligations and
without any action by EFH, EFIH, any holder of Notes or other Junior Lien Obligations. 
 (c) The Collateral Trustee will not
enter into any amendment or supplement unless it has received an Officer’s Certificate to the effect that such amendment or supplement will not result in a breach of any provision or covenant contained in any of the Secured Debt Documents.
Prior to executing any amendment or supplement pursuant to this Section 7.1, the Collateral Trustee will be entitled to receive an opinion of counsel of EFIH (which may be provided by internal counsel to EFIH) to the effect that the execution
of such document is authorized or permitted hereunder, that such document is the legal, valid and binding obligation of EFIH, enforceable against it in accordance with its terms, subject to customary exceptions, and with respect to amendments adding
Collateral, an opinion of counsel of EFIH (which may be provided by internal counsel to EFIH) addressing customary perfection, and if such additional Collateral consists of equity interests of any Person, priority matters with respect to such
additional Collateral (subject to customary qualifications and assumptions). 
 (d) The holders of Junior Lien Obligations and
the Junior Lien Representatives agree that each Security Document that secures Junior Lien Obligations (but not also securing Parity Lien Obligations) will include language substantially to the effect of the following: 
 “Notwithstanding anything herein to the contrary, the lien and security interest granted to the Collateral Trustee pursuant to this
Agreement and the exercise of any right or remedy by such Collateral Trustee hereunder are subject to the provisions of the Collateral Trust Agreement, dated as of November 16, 2009, among EFIH, The Bank of New York Mellon Trust Company, N.A.,
as Trustee under the EFH Indenture (as defined therein), The Bank of New York Mellon Trust Company, N.A., as Trustee under the EFIH Indenture (as defined therein) and The Bank of New York Mellon Trust Company, N.A., as Collateral Trustee (as
amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”). In the event of any conflict between the terms of the Collateral Trust Agreement and this
Agreement, the terms of the Collateral Trust Agreement will govern.” 
 ; provided, however, that if the jurisdiction in which any
such Junior Lien Document will be filed prohibits the inclusion of the language above or would prevent a document containing such language from being recorded, the Junior Lien Representatives and the Parity Lien Representatives agree, prior to such
Junior Lien Document being entered into, to negotiate in good faith replacement language stating that the lien and security interest granted under such Junior Lien Document is subject to the provisions of this Agreement. 
 SECTION 7.2 Voting. In connection with any matter under this Agreement requiring a vote of holders of Secured Debt, each Series of
Secured Lien Debt will

  

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cast its votes in accordance with the Secured Debt Documents governing such Series of Secured Lien Debt. The amount of Secured Debt to be voted by a Series of Secured Lien Debt will equal
(1) the aggregate outstanding principal amount of Secured Debt held by such Series of Secured Lien Debt (including outstanding letters of credit whether or not then available or drawn), plus (2) the aggregate unfunded commitments to
extend credit which, when funded, would constitute Indebtedness of such Series of Secured Lien Debt. Following and in accordance with the outcome of the applicable vote under its Secured Debt Documents, the Secured Debt Representative of each Series
of Secured Lien Debt will vote the total amount of Secured Debt under that Series of Secured Lien Debt as a block in respect of any vote under this Agreement. 
 SECTION 7.3 Further Assurances. 
 (a) EFIH will do or cause to be done all
acts and things that may be required, or that the Collateral Trustee from time to time may reasonably request, to assure and confirm that the Collateral Trustee holds, for the benefit of the Secured Debt Representatives and holders of Secured Debt
Obligations, duly created and enforceable and perfected Liens upon the Collateral (including any property or assets that are acquired or otherwise become Collateral after the date hereof), in each case as contemplated by, and with the Lien priority
required under, the Secured Debt Documents. 
 (b) Upon the reasonable request of the Collateral Trustee or any Secured Debt
Representative at any time and from time to time, EFIH, at its own expense, will promptly execute, acknowledge and deliver such additional security documents, instruments, certificates, notices and other documents, and take such other actions as may
be reasonably required, or that the Collateral Trustee may reasonably request, to create, perfect, protect, assure or enforce the Liens and benefits intended to be conferred thereby, in each case as contemplated by the Secured Debt Documents for the
benefit of holders of Secured Debt Obligations. 
 (c) Upon the request of the Collateral Trustee, EFIH will permit the
Collateral Trustee or any of its agents or representatives, at reasonable times and intervals upon reasonable prior notice during regular business hours, to visit its offices and sites and inspect any of the Collateral and to discuss matters
relating to the Collateral with its officers at EFIH’s expense. EFIH shall, at any reasonable time and from time to time upon reasonable prior notice during regular business hours, permit the Collateral Trustee or any of its agents or
representatives to examine and make copies of and abstracts from the records and books of account of EFIH and its Subsidiaries, all at EFIH’s expense. 
 SECTION 7.4 Perfection of Junior Trust Estate. Solely for purposes of perfecting the Liens of the Collateral Trustee in its capacity as agent of the holders of Junior Lien Obligations and the
Junior Lien Representatives in any portion of the Junior Trust Estate in the possession or control of the Collateral Trustee (or its agents or bailees) as part of the Senior Trust Estate including, without limitation, any instruments, goods,
negotiable documents, tangible chattel paper, electronic chattel paper, certificated securities, money, deposit accounts and securities accounts, the Collateral Trustee, the holders of Parity Lien Obligations and the Parity Lien Representatives
hereby acknowledge that the Collateral Trustee also holds such property as agent for the benefit of the Collateral Trustee for the benefit of the holders of Junior Lien Obligations and the Junior Lien Representatives. 
  

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 SECTION 7.5 Successors and Assigns. 
 (a) Except as provided in Section 5.2, the Collateral Trustee may not, in its capacity as such, delegate any of its duties or assign
any of its rights hereunder, and any attempted delegation or assignment of any such duties or rights will be null and void. All obligations of the Collateral Trustee hereunder will inure to the sole and exclusive benefit of, and be enforceable by,
each Secured Debt Representative and each present and future holder of Secured Debt Obligations, each of whom will be entitled to enforce this Agreement as a third-party beneficiary hereof, and all of their respective successors and assigns.

 (b) The Company may not delegate any of its duties or assign any of its rights hereunder, and any attempted delegation or
assignment of any such duties or rights will be null and void. All obligations of EFIH will inure to the sole and exclusive benefit of, and be enforceable by, the Collateral Trustee, each Secured Debt Representative and each present and future
holder of Secured Debt Obligations, each of whom will be entitled to enforce this Agreement as a third-party beneficiary hereof, and all of their respective successors and assigns. 
 SECTION 7.6 Delay and Waiver. No failure to exercise, no course of dealing with respect to the exercise of, and no delay in
exercising, any right, power or remedy arising under this Agreement or any of the other Security Documents will impair any such right, power or remedy or operate as a waiver thereof. No single or partial exercise of any such right, power or remedy
will preclude any other or future exercise thereof or the exercise of any other right, power or remedy. The remedies herein are cumulative and are not exclusive of any remedies provided by law. 
 SECTION 7.7 Notices. Any communications, including notices and instructions, between the parties hereto or notices provided herein to
be given may be given to the following addresses: 
 If to EFIH: 
 c/o Energy Future Holdings Corp. 
 Energy Plaza 
 1601 Bryan Street 
 Dallas, Texas 75201-3411 
 Facsimile No.: (214) 812-6032 
 Attention: General Counsel 
 and 
 Facsimile No.:
(214) 812-4097 
 Attention: Treasurer 
 With a copy to: 
 Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 
 New York, New York 10017 
 Facsimile No.: (212) 455-2502 
 Attention: Edward P. Tolley III 
  

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 If to the Collateral Trustee: 
 The Bank of New York Mellon Trust Company, N.A. 
 Corporate Trust Division 
 601 Travis Street - 16th Floor 
 Houston, TX 77002 
 Facsimile No.: (713) 483-6954 
 Attention: EFH Senior Secured Notes Trustee 
 With a copy to: 
 Winston & Strawn LLP 
 200 Park Avenue 
 New York, NY 10166 
 Facsimile No.: (212) 294-4700 
 Attention: Jeffrey H. Elkin 
 If to the First Lien Trustee: 
 The Bank of New York Mellon Trust Company, N.A. 
 Corporate Trust Division

 601 Travis Street - 16th Floor 
 Houston, TX 77002 
 Facsimile No.: (713) 483-6954 
 Attention: EFH Senior Secured Notes Trustee 
 With a copy to: 
 Winston & Strawn LLP 
 200 Park Avenue 
 New York, NY 10166 
 Facsimile No.: (212) 294-4700 
 Attention: Jeffrey H. Elkin 
 and
if to any other Secured Debt Representative, to such address as it may specify by written notice to the parties named above. 
 All notices and communications will be faxed to the relevant fax number set forth above or mailed by first class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery, to the
relevant address set forth above or, as to holders of Secured Debt, all notices and communications will be sent in the manner specified in the Secured Debt Documents applicable to such holder. Failure to mail a notice or communication to a holder of
Secured Debt or any defect in it will not affect its sufficiency with respect to other holders of Secured Debt. 
 If a notice
or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it, except a notice to the Collateral Trustee or First Lien Trustee is effective only upon receipt.

  

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 SECTION 7.8 Notice Following Discharge of Parity Lien Obligations. Promptly following
the Discharge of Parity Lien Obligations with respect to one or more Series of Parity Lien Debt, each Parity Lien Representative with respect to each applicable Series of Parity Lien Debt that is so discharged will provide written notice of such
discharge to the Collateral Trustee and to each other Secured Debt Representative. 
 SECTION 7.9 Entire Agreement. This
Agreement states the complete agreement of the parties relating to the undertaking of the Collateral Trustee set forth herein and supersedes all oral negotiations and prior writings in respect of such undertaking. 
 SECTION 7.10 Compensation; Expenses. EFIH agrees to pay, promptly upon demand: 
 (1) such compensation to the Collateral Trustee and its agents as EFIH and the Collateral Trustee may agree in writing from
time to time; 
 (2) all reasonable costs and expenses incurred by the Collateral Trustee and its agents in the
preparation, execution, delivery, filing, recordation, administration or enforcement of this Agreement (including this Section 7.10) or any other Security Document or any consent, amendment, waiver or other modification relating hereto or
thereto; 
 (3) all reasonable fees, expenses and disbursements of legal counsel and any auditors, accountants,
consultants or appraisers or other professional advisors and agents engaged by the Collateral Trustee incurred in connection with the negotiation, preparation, closing, administration, performance or enforcement of this Agreement and the other
Security Documents or any consent, amendment, waiver or other modification relating hereto or thereto and any other document or matter requested by EFIH; 
 (4) all reasonable costs and expenses incurred by the Collateral Trustee and its agents in creating, perfecting, preserving, releasing or enforcing the Collateral Trustee’s Liens on the Collateral,
including filing and recording fees, expenses and taxes, stamp or documentary taxes, and search fees; 
 (5) all
other reasonable costs and expenses incurred by the Collateral Trustee and its agents in connection with the negotiation, preparation and execution of the Security Documents and any consents, amendments, waivers or other modifications thereto and
the transactions contemplated thereby or the exercise of rights or performance of obligations by the Collateral Trustee thereunder; and 
 (6) after the occurrence of any Secured Debt Default, all costs and expenses documented in customary detail incurred by the Collateral Trustee, its agents and any

  

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Secured Debt Representative in connection with the preservation, collection, foreclosure or enforcement of the Collateral subject to the Security Documents or any interest, right, power or remedy
of the Collateral Trustee or in connection with the collection or enforcement of any of the Secured Debt Obligations or the proof, protection, administration or resolution of any claim based upon the Secured Debt Obligations in any Insolvency or
Liquidation Proceeding, including all fees and disbursements documented in customary detail of attorneys, accountants, auditors, consultants, appraisers and other professionals engaged by the Collateral Trustee, its agents or the Secured Debt
Representatives. 
 The agreements in this Section 7.10 will survive repayment of all other Secured Debt Obligations and the removal or
resignation of the Collateral Trustee. 
 SECTION 7.11 Indemnity. 
 (a) EFIH agrees to defend, indemnify, pay and hold harmless the Collateral Trustee and each of its directors, officers, partners, trustees,
employees, attorneys and agents, and (in each case) their respective heirs, representatives, successors and assigns (each of the foregoing, an “Indemnitee”) from and against any and all Indemnified Liabilities;
provided, no Indemnitee will be entitled to indemnification hereunder with respect to any Indemnified Liability to the extent such Indemnified Liability is found by a final and nonappealable decision of a court of competent jurisdiction to
have resulted from the gross negligence, bad faith or willful misconduct of an Indemnitee. 
 (b) All amounts due under this
Section 7.11 will be payable upon demand. 
 (c) To the extent that the undertakings to defend, indemnify, pay and hold
harmless set forth in Section 7.11(a) may be unenforceable in whole or in part because they violate any law or public policy, EFIH will contribute the maximum portion that it is permitted to pay and satisfy under applicable law to the payment
and satisfaction of all Indemnified Liabilities incurred by Indemnitees or any of them. 
 (d) EFIH will not assert any claim
against any Indemnitee, on any theory of liability, for any lost profits or special, indirect or consequential damages or (to the fullest extent a claim for punitive damages may lawfully be waived) any punitive damages arising out of, in connection
with, or as a result of, this Agreement or any other Secured Debt Document or any agreement or instrument or transaction contemplated hereby or relating in any respect to any Indemnified Liability, and EFIH hereby waives, releases and agrees not to
sue upon any claim for any such lost profits or special, indirect, consequential or (to the fullest extent lawful) punitive damages, whether or not accrued and whether or not known or suspected to exist in its favor. 
 (e) The agreements in this Section 7.11 will survive repayment of all other Secured Debt Obligations and the removal or resignation of
the Collateral Trustee. 
 SECTION 7.12 Severability. If any provision of this Agreement is invalid, illegal or
unenforceable in any respect or in any jurisdiction, the validity, legality and enforceability of such provision in all other respects and of all remaining provisions, and of such provision in all other jurisdictions, will not in any way be affected
or impaired thereby. 
  

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 SECTION 7.13 Headings. Section headings herein have been inserted for convenience of
reference only, are not to be considered a part of this Agreement and will in no way modify or restrict any of the terms or provisions hereof. 
 SECTION 7.14 Obligations Secured. All obligations of EFIH set forth in or arising under this Agreement will be Secured Debt Obligations and are secured by all Liens granted by the Security
Documents. 
 SECTION 7.15 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW
OF THE STATE OF NEW YORK. 
 SECTION 7.16 Consent to Jurisdiction. All judicial proceedings brought against any party
hereto arising out of or relating to this Agreement or any of the other Security Documents may be brought in any state or federal court of competent jurisdiction in the State, County and City of New York. By executing and delivering this Agreement,
EFIH, for itself and in connection with its properties, irrevocably: 
 (1) accepts generally and unconditionally
the nonexclusive jurisdiction and venue of such courts; 
 (2) waives any defense of forum non conveniens;

 (3) agrees that service of all process in any such proceeding in any such court may be made by registered or
certified mail, return receipt requested, to such party at its address provided in accordance with Section 7.7; 
 (4) agrees that service as provided in clause (3) above is sufficient to confer personal jurisdiction over such party in any such proceeding in any such court and otherwise constitutes effective and binding service in every respect;
and 
 (5) agrees that each party hereto retains the right to serve process in any other manner permitted by law
or to bring proceedings against any party in the courts of any other jurisdiction. 
 SECTION 7.17 Waiver of Jury Trial.
Each party to this Agreement waives its rights to a jury trial of any claim or cause of action based upon or arising under this Agreement or any of the other Security Documents or any dealings between them relating to the subject matter of this
Agreement or the intents and purposes of the other Security Documents. The scope of this waiver is intended to be all-encompassing of any and all disputes that may be

  

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filed in any court and that relate to the subject matter of this Agreement and the other Security Documents, including contract claims, tort claims, breach of duty claims and all other common law
and statutory claims. Each party to this Agreement acknowledges that this waiver is a material inducement to enter into a business relationship, that each party hereto has already relied on this waiver in entering into this Agreement, and that each
party hereto will continue to rely on this waiver in its related future dealings. Each party hereto further warrants and represents that it has reviewed this waiver with its legal counsel and that it knowingly and voluntarily waives its jury trial
rights following consultation with legal counsel. This waiver is irrevocable, meaning that it may not be modified either orally or in writing (other than by a mutual written waiver specifically referring to this Section 7.17 and executed by
each of the parties hereto), and this waiver will apply to any subsequent amendments, renewals, supplements or modifications of or to this Agreement or any of the other Security Documents or to any other documents or agreements relating thereto. In
the event of litigation, this Agreement may be filed as a written consent to a trial by the court. 
 SECTION 7.18
Counterparts. This Agreement may be executed in any number of counterparts (including by facsimile or electronic transmission), each of which when so executed and delivered will be deemed an original, but all such counterparts together will
constitute but one and the same instrument. 
 SECTION 7.19 Effectiveness. This Agreement will become effective upon the
execution of a counterpart hereof by each of the parties hereto on the date hereof and receipt by each party of written notification of such execution and written or telephonic authorization of delivery thereof. 
 SECTION 7.20 Successor Company. EFIH will cause each Person that becomes a Successor Company or is required by any Secured Debt
Document to become a party to this Agreement to become a party to this Agreement, for all purposes of this Agreement, by causing such Person to execute and deliver to the Collateral Trustee a Collateral Trust Joinder, whereupon such Person will be
bound by the terms hereof to the same extent as if it had executed and delivered this Agreement as of the date hereof. EFIH shall promptly provide each Secured Debt Representative with a copy of each Collateral Trust Joinder executed and delivered
pursuant to this Section 7.20; provided, however, that the failure to so deliver a copy of the Collateral Trust Joinder to any then existing Secured Debt Representative shall not affect the inclusion of such Person as a party hereto if
the other requirements of this Section 7.20 are complied with. 
 SECTION 7.21 Continuing Nature of this Agreement.
This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation
Proceeding or otherwise by any holder of Parity Lien Obligations or Parity Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or
distribution made with respect to the Parity Lien Obligations is recovered from any holder of Parity Lien Obligations or any Parity Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by
any holder of Junior Lien Obligations or Junior Lien Representative with respect to the Junior Lien Obligations from the

  

 45 

 
proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative
or that holder of a Junior Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior Lien, to be
applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, for the benefit of the holders of the Parity Lien
Obligations and other Obligations secured by a Permitted Prior Lien. 
 SECTION 7.22 Insolvency. This Agreement will be
applicable both before and after the commencement of any Insolvency or Liquidation Proceeding by or against EFIH. The relative rights, as provided for in this Agreement, will continue after the commencement of any such Insolvency or Liquidation
Proceeding on the same basis as prior to the date of the commencement of any such case, as provided in this Agreement. 
 SECTION 7.23 Rights and Immunities of Secured Debt Representatives. The Secured Debt Representatives will be entitled to all of the rights, protections, immunities and indemnities set forth in the Indentures and any future Secured
Debt Representative will be entitled to all of the rights, protections, immunities and indemnities set forth in the credit agreement, indenture or other agreement governing the applicable Secured Debt with respect to which such Person is acting or
will act as representative, in each case as if specifically set forth herein. In no event will any Secured Debt Representative be liable for any act or omission on the part of EFIH or the Collateral Trustee hereunder. 
 SECTION 7.24 Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the USA Patriot Act the
Collateral Trustee, like all financial institutions, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with it. The parties to this Agreement agree
that they will provide the Collateral Trustee with such information as it may reasonably request in order for the Collateral Trustee to satisfy the requirements of the USA Patriot Act. 
 SECTION 7.25 Force Majeure. In no event shall the Collateral Trustee be responsible or liable for any failure or delay in the
performance of its obligations under this Agreement 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. 
  

 46 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers or representatives as of the day and year first above written. 
  

			
	 ENERGY FUTURE INTERMEDIATE HOLDING COMPANY LLC

		
	By:	 	 /s/ Anthony R. Horton

	Name:	 	Anthony R. Horton
	Title:	 	Senior Vice President and Treasurer

  

 S-1 

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee under the EFH Indenture

		
	By:	 	 /s/ Julie Hoffman-Ramos

	Name:	 	Julie Hoffman-Ramos
	Title:	 	Senior Associate
	
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee under the EFIH Indenture

		
	By:	 	 /s/ Julie Hoffman-Ramos

	Name:	 	Julie Hoffman-Ramos
	Title:	 	Senior Associate
	
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Collateral Trustee

		
	By:	 	 /s/ Julie Hoffman-Ramos

	Name:	 	Julie Hoffman-Ramos
	Title:	 	Senior Associate

  

 S-2 

 EXHIBIT A 
 to Collateral Trust Agreement 
 FORM OF 
 ADDITIONAL SECURED DEBT DESIGNATION 
 Reference is made to the Collateral Trust Agreement dated as of [—], 2009 (as amended, supplemented, amended and restated or otherwise modified and in
effect from time to time, the “Collateral Trust Agreement”) among Energy Future Intermediate Holding Company LLC, a Delaware limited liability company (the “EFIH”), The Bank of New York Mellon Trust Company, N.A., as First Lien
Trustee (as defined therein), the other Secured Debt Representatives from time to time party thereto and The Bank of New York Mellon Trust Company, N.A., as Collateral Trustee. Capitalized terms used but not otherwise defined herein shall have the
meanings set forth in the Collateral Trust Agreement. This Additional Secured Debt Designation is being executed and delivered in order to designate additional secured debt as either Parity Lien Debt or Junior Lien Debt entitled to the benefit of
the Collateral Trust Agreement. 
 The undersigned, the duly appointed [specify title] of EFIH hereby
certifies on behalf of EFIH that: 
 (A) [insert name] intends to incur additional Secured
Debt (“Additional Secured Debt”) which will be [select appropriate alternative] [Parity Lien Debt permitted by each applicable Secured Debt Document to be secured by a Parity Lien pari
passu with all previously existing and future Parity Lien Debt] or [Junior Lien Debt permitted by each applicable Secured Debt Document to be secured with a Junior Lien pari passu with all previously existing and future
Junior Lien Debt]; 
 (B) such Additional Secured Debt is permitted by each applicable Secured Debt
Document; 
 (C) the name and address of the Secured Debt Representative for the Additional Secured Debt for
purposes of Section 7.7 of the Collateral Trust Agreement is: 
  

					
		  	  
	  	
			
		  	  
	  	
			
		  	Telephone:                                      
            	  	
			
		  	Fax:                                       
                     	  	

 (D) The Company has caused a copy of this Additional Secured Debt
Designation to be delivered to each existing Secured Debt Representative. 
  

 A-1 

 IN WITNESS WHEREOF, EFIH has caused this Additional Secured Debt Designation to be duly
executed by the undersigned officer as of                     , 20    . 
  

					
	[—]
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 ACKNOWLEDGEMENT OF RECEIPT 
 The undersigned, the duly appointed Collateral Trustee under the Collateral Trust Agreement, hereby acknowledges receipt of an executed copy of this
Additional Secured Debt Designation. 
  

					
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  

 A-2 

 EXHIBIT B 
 to Collateral Trust Agreement 
 FORM OF 
 COLLATERAL TRUST JOINDER – ADDITIONAL DEBT 
 Reference is made to the Collateral Trust Agreement dated as of [—], 2009 (as amended, supplemented, amended and restated or otherwise modified and in
effect from time to time, the “Collateral Trust Agreement”) among Energy Future Intermediate Holding Company LLC, a Delaware limited liability company (the “EFIH”), The Bank of New York Mellon Trust Company, N.A., as First Lien
Trustee (as defined therein), the other Secured Debt Representatives from time to time party thereto and The Bank of New York Mellon Trust Company, N.A., as Collateral Trustee. Capitalized terms used but not otherwise defined herein shall have the
meaning set forth in the Collateral Trust Agreement. This Collateral Trust Joinder is being executed and delivered pursuant to Section 3.8 of the Collateral Trust Agreement as a condition precedent to the debt for which the undersigned is
acting as agent being entitled to the benefits of being Additional Secured Debt under the Collateral Trust Agreement. 
 1
Joinder. The undersigned,
                                        , a
                            , (the “New Representative”) as [trustee, administrative
agent] under that certain [describe applicable indenture, credit agreement or other document governing the Additional Secured Debt] hereby agrees to become party as [a Junior Lien Representative] [a Parity
Lien Representative] under the Collateral Trust Agreement for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Collateral Trust Agreement as fully as if the undersigned had executed and delivered the
Collateral Trust Agreement as of the date thereof. 
 2. Lien Sharing and Priority Confirmation. 
 [Option A: to be used if Additional Debt is Parity Lien Debt] The undersigned New Representative, on behalf of itself
and each holder of Obligations in respect of the Series of Parity Lien Debt for which the undersigned is acting as Parity Lien Representative hereby agrees, for the enforceable benefit of all holders of each existing and future Series of Parity Lien
Debt and Junior Lien Debt, each existing and future Junior Lien Representative, each other existing and future Parity Lien Representative and each existing and future holder of Permitted Prior Liens and as a condition to being treated as Secured
Debt under the Collateral Trust Agreement that: 
 (a) all Parity Lien Obligations will be and are secured
Equally and Ratably by all Parity Liens at any time granted by EFIH or any Successor Company to secure any Obligations in respect of any Series of Parity Lien Debt, whether or not upon property otherwise constituting collateral for such Series of
Parity Lien Debt, and that all such Parity Liens will be enforceable by the Collateral Trustee for the benefit of all holders of Parity Lien Obligations Equally and Ratably; 
  

 B-1 

 (b) the New Representative and each holder of Obligations in respect of the
Series of Parity Lien Debt for which the undersigned is acting as Parity Lien Representative are bound by the provisions of the Collateral Trust Agreement, including the provisions relating to the ranking of Parity Liens and the order of application
of proceeds from the enforcement of Parity Liens; and 
 (c) the Collateral Trustee shall perform its obligations
under the Collateral Trust Agreement and the other Security Documents. [or] 
 [Option B: to be used if
Additional Debt is Junior Lien Debt] The undersigned New Representative, on behalf of itself and each holder of Obligations in respect of the Series of Junior Lien Debt for which the undersigned is acting as Junior Lien Representative
hereby agrees, for the enforceable benefit of all holders of each existing and future Series of Parity Lien Debt and Junior Lien Debt, each existing and future Parity Lien Representative, each other existing and future Junior Lien Representative and
each existing and future holder of Permitted Prior Liens and as a condition to being treated as Secured Debt under the Collateral Trust Agreement that: 
 (a) all Junior Lien Obligations will be and are secured Equally and Ratably by all Junior Liens at any time granted by EFIH or any Successor Company to secure any Obligations in respect of any Series of
Junior Lien Debt, whether or not upon property otherwise constituting collateral for such Series of Junior Lien Debt, and that all such Junior Liens will be enforceable by the Collateral Trustee for the benefit of all holders of Junior Lien
Obligations Equally and Ratably; 
 (b) the New Representative and each holder of Obligations in respect of the
Series of Junior Lien Debt for which the undersigned is acting as Junior Lien Representative are bound by the provisions of the Collateral Trust Agreement, including the provisions relating to the ranking of Junior Liens and the order of application
of proceeds from the enforcement of Junior Liens; and 
 (c) the Collateral Trustee shall perform its obligations
under the Collateral Trust Agreement and the other Security Documents. 
 3. Governing Law and Miscellaneous Provisions.
The provisions of Article 7 of the Collateral Trust Agreement will apply with like effect to this Collateral Trust Joinder. 
 IN WITNESS WHEREOF, the parties hereto have caused this Collateral Trust Joinder to be executed by their respective officers or representatives as of
                    , 20    . 
  

 B-2 

					
	[insert name of the new representative]
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 The Collateral Trustee hereby acknowledges receipt of this Collateral Trust Joinder and agrees
to act as Collateral Trustee for the New Representative and the holders of the Obligations represented thereby: 
  

					
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Collateral Trustee

		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  

 B-3 

 EXHIBIT C 
 to Collateral Trust Agreement 
 FORM OF 
 COLLATERAL TRUST JOINDER – SUCCESSOR COMPANY 
 Reference is made to the Collateral Trust Agreement dated as of [—], 2009 (as amended, supplemented, amended and restated or otherwise modified and in
effect from time to time, the “Collateral Trust Agreement”) among Energy Future Intermediate Holding Company LLC, a Delaware limited liability company (the “EFIH”), The Bank of New York Mellon Trust Company, N.A., as First Lien
Trustee (as defined therein), the other Secured Debt Representatives from time to time party thereto and The Bank of New York Mellon Trust Company, N.A., as Collateral Trustee. Capitalized terms used but not otherwise defined herein shall have the
meaning set forth in the Collateral Trust Agreement. This Collateral Trust Joinder is being executed and delivered pursuant to Section 7.20 of the Collateral Trust Agreement. 
 1. Joinder. The undersigned,
                                        , a
                        , hereby agrees to become party as an obligor and Successor Company under the Collateral Trust Agreement
for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Collateral Trust Agreement as fully as if the undersigned had executed and delivered the Collateral Trust Agreement as of the date thereof. 
 2. Governing Law and Miscellaneous Provisions. The provisions of Article 7 of the Collateral Trust Agreement will apply with
like effect to this Collateral Trust Joinder. 
 IN WITNESS WHEREOF, the parties hereto have caused this Collateral Trust
Joinder to be executed by their respective officers or representatives as of                     , 20    . 
  

					
	[                                       
                                         
]
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  

 C-1 

 The Collateral Trustee hereby acknowledges receipt of this Collateral Trust Joinder and agrees to act as
Collateral Trustee with respect to the Collateral pledged by the Successor Company: 
  

					
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Collateral Trustee

		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  

 C-2Indenture for Senior Debt Securities

 Exhibit 4.1 
  
  
 PACCAR FINANCIAL CORP. 
 and 
 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., 
 Trustee 
  
  
 INDENTURE 
  
  
 Dated as of November 20, 2009

  
  
 Senior Debt Securities 

 Reconciliation and tie between Trust Indenture Act of 1939 
 and Indenture, dated as of November 20, 2009 
  

					
	                 Trust
Indenture
                     Act Section

	  	        Indenture Section
			
	§310	  	(a) (1)	  	609
		  	(a) (2)	  	609
		  	(a) (3)	  	Not Applicable
		  	(a) (4)	  	Not Applicable
		  	(b)	  	608
		  		  	610
	§311	  	(a)	  	613 (a)
		  	(b)	  	613 (b)
		  	(b) (2)	  	703 (a) (2)
		  		  	703 (b)
	§312	  	(a)	  	701
		  		  	702 (a)
		  	(b)	  	702(b)
		  	(c)	  	702(c)
	§313	  	(a)	  	703(a)
		  	(b)	  	703 (b)
		  	(c)	  	703 (a), 703 (b)
		  	(d)	  	703 (c)
	§314	  	(a)	  	704
		  	(b)	  	Not Applicable
		  	(c) (1)	  	102
		  	(c) (2)	  	102
		  	(c) (3)	  	Not Applicable
		  	(d)	  	Not Applicable
		  	(e)	  	102
	§315	  	(a)	  	601(a)
		  	(b)	  	602
		  		  	703 (a) (6)
		  	(c)	  	601 (b)
		  	(d)	  	601 (c)
		  	(d) (1)	  	601 (a) (1)
		  	(d) (2)	  	601 (c) (2)
		  	(d) (3)	  	601 (c) (3)
		  	(e)	  	514
	§316	  	(a)	  	101
		  	(a) (1) (A)	  	502
		  		  	512
		  	(a) (1) (B)	  	513
		  	(a) (2)	  	Not Applicable
		  	(b)	  	508
	§317	  	(a)(1)	  	503
		  	(a) (2)	  	504
		  	(b)	  	1003
	§318	  	(a)	  	107

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

 TABLE OF CONTENTS 
  

			
	 	  	Page
		
	 PARTIES
	  	1
	 RECITALS OF THE COMPANY
	  	1

 ARTICLE ONE 
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
  

					
	 SECTION 101.
	  	 Definitions
	  	1
		  	 Act
	  	2
		  	 Affiliate
	  	2
		  	 Authenticating Agent
	  	2
		  	 Board of Directors
	  	2
		  	 Board Resolution
	  	2
		  	 Business Day
	  	2
		  	 Commission
	  	2
		  	 Company
	  	2
		  	 Company Request; Company Order
	  	2
		  	 Consolidated Assets
	  	3
		  	 Corporate Trust Office
	  	3
		  	 corporation
	  	3
		  	 Defaulted Interest
	  	3
		  	 Depositary
	  	3
		  	 Event of Default
	  	3
		  	 Holder
	  	3
		  	 Indenture
	  	3
		  	 interest
	  	3
		  	 Interest Payment Date
	  	3
		  	 Lien
	  	3
		  	 Maturity
	  	4
		  	 Officers’ Certificate
	  	4
		  	 Opinion of Counsel
	  	4
		  	 Original Issue Discount Security
	  	4
		  	 Outstanding
	  	4
		  	 Paying Agent
	  	5
		  	 Person
	  	5
		  	 Place of Payment
	  	5
		  	 Predecessor Security
	  	5
		  	 Property
	  	5
		  	 Redemption Date
	  	5
		  	 Redemption Price
	  	5
		  	 Regular Record Date
	  	5

  
 NOTE:  This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. 
  

 i 

					
		  	 Responsible Officer
	  	5
		  	 Restricted Debt
	  	5
		  	 Securities
	  	6
		  	 Security Register and Security Registrar
	  	6
		  	 Special Record Date
	  	6
		  	 Stated Maturity
	  	6
		  	 Subsidiary
	  	6
		  	 Trustee
	  	6
		  	 Trust Indenture Act
	  	6
		  	 Vice President
	  	6
	 SECTION 102.
	  	 Compliance Certificates and Opinions
	  	7
	 SECTION 103.
	  	 Form of Documents Delivered to Trustee
	  	7
	 SECTION 104.
	  	 Acts of Holders
	  	8
	 SECTION 105.
	  	 Notices, Etc., to Trustee and Company
	  	9
	 SECTION 106.
	  	 Notice to Holders; Waiver
	  	10
	 SECTION 107.
	  	 Conflict with Trust Indenture Act
	  	10
	 SECTION 108.
	  	 Effect of Headings and Table of Contents
	  	10
	 SECTION 109.
	  	 Successors and Assigns
	  	10
	 SECTION 110.
	  	 Separability Clause
	  	11
	 SECTION 111.
	  	 Benefits of Indenture
	  	11
	 SECTION 112.
	  	 Governing Law
	  	11
	 SECTION 113.
	  	 Legal Holidays
	  	11
	 SECTION 114.
	  	 Indenture and Securities Solely Corporate Obligations
	  	11
	 SECTION 115.
	  	 No Security Interest Created
	  	12
	 SECTION 116.
	  	 Force Majeure
	  	12
	
	ARTICLE TWO
	
	SECURITY FORMS
			
	 SECTION 201.
	  	 Forms Generally
	  	12
	 SECTION 202.
	  	 Form of Trustee’s Certificate of Authentication
	  	13
	 SECTION 203.
	  	 Global Form
	  	13
	
	ARTICLE THREE
	
	THE SECURITIES
			
	 SECTION 301.
	  	 Amount Unlimited; Issuable in Series
	  	13
	 SECTION 302.
	  	 Denominations
	  	15
	 SECTION 303.
	  	 Execution, Authentication, Delivery and Dating
	  	16
	 SECTION 304.
	  	 Temporary Securities
	  	17
	 SECTION 305.
	  	 Registration, Registration of Transfer and Exchange
	  	18
	 SECTION 306.
	  	 Mutilated, Destroyed, Lost and Stolen Securities
	  	20
	 SECTION 307.
	  	 Payment of Interest; Interest Rights Preserved
	  	21
	 SECTION 308.
	  	 Persons Deemed Owners
	  	22
	 SECTION 309.
	  	 Cancellation
	  	22

  

 ii 

					
	 SECTION 310.
	  	 Computation of Interest
	  	23
	
	ARTICLE FOUR
	
	SATISFACTION AND DISCHARGE
			
	 SECTION 401.
	  	 Satisfaction and Discharge of Securities of any Series
	  	23
	 SECTION 402.
	  	 Satisfaction and Discharge of Indenture
	  	25
	 SECTION 403.
	  	 Application of Trust Money
	  	25
	
	ARTICLE FIVE
	
	REMEDIES
			
	 SECTION 501.
	  	 Events of Default
	  	26
	 SECTION 502.
	  	 Acceleration of Maturity; Rescission and Annulment
	  	28
	 SECTION 503.
	  	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	29
	 SECTION 504.
	  	 Trustee May File Proofs of Claim
	  	29
	 SECTION 505.
	  	 Trustee May Enforce Claims Without Possession of Securities
	  	30
	 SECTION 506.
	  	 Application of Money Collected
	  	30
	 SECTION 507.
	  	 Limitation on Suits
	  	31
	 SECTION 508.
	  	 Unconditional Right of Holders to Receive Principal, Premium and Interest
	  	32
	 SECTION 509.
	  	 Restoration of Rights and Remedies
	  	32
	 SECTION 510.
	  	 Rights and Remedies Cumulative
	  	32
	 SECTION 511.
	  	 Delay or Omission Not Waiver
	  	32
	 SECTION 512.
	  	 Control by Holders
	  	32
	 SECTION 513.
	  	 Waiver of Past Defaults
	  	33
	 SECTION 514.
	  	 Undertaking for Costs
	  	33
	 SECTION 515.
	  	 Waiver of Stay or Extension Laws
	  	34
	
	ARTICLE SIX
	
	THE TRUSTEE
			
	 SECTION 601.
	  	 Certain Duties and Responsibilities
	  	34
	 SECTION 602.
	  	 Notice of Defaults
	  	35
	 SECTION 603.
	  	 Certain Rights of Trustee
	  	36
	 SECTION 604.
	  	 Not Responsible for Recitals or Issuance of Securities
	  	37
	 SECTION 605.
	  	 May Hold Securities
	  	37
	 SECTION 606.
	  	 Money Held in Trust
	  	37
	 SECTION 607.
	  	 Compensation and Reimbursement
	  	37
	 SECTION 608.
	  	 Disqualification; Conflicting Interests
	  	38
	 SECTION 609.
	  	 Corporate Trustee Required; Eligibility
	  	38
	 SECTION 610.
	  	 Resignation and Removal; Appointment of Successor
	  	38
	 SECTION 611.
	  	 Acceptance of Appointment by Successor
	  	40
	 SECTION 612.
	  	 Merger, Conversion, Consolidation or Succession to Business
	  	41

  

 iii 

					
	 SECTION 613.
	  	 Preferential Collection of Claims Against Company
	  	41
	 SECTION 614.
	  	 Appointment of Authenticating Agent
	  	41
	
	ARTICLE SEVEN
	
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
			
	 SECTION 701.
	  	 Company to Furnish Trustee Names and Addresses of Holders
	  	43
	 SECTION 702.
	  	 Preservation of Information; Communications to Holders
	  	43
	 SECTION 703.
	  	 Reports by Trustee
	  	45
	 SECTION 704.
	  	 Reports by Company
	  	46
	
	ARTICLE EIGHT
	
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
			
	 SECTION 801.
	  	 Company May Consolidate, Etc., Only on Certain Terms
	  	47
	 SECTION 802.
	  	 Successor Corporation Substituted
	  	48
	
	ARTICLE NINE
	
	SUPPLEMENTAL INDENTURES
			
	 SECTION 901.
	  	 Supplemental Indentures Without Consent of Holders
	  	48
	 SECTION 902.
	  	 Supplemental Indentures with Consent of Holders
	  	50
	 SECTION 903.
	  	 Execution of Supplemental Indentures
	  	51
	 SECTION 904.
	  	 Effect of Supplemental Indentures
	  	51
	 SECTION 905.
	  	 Conformity with Trust Indenture Act
	  	51
	 SECTION 906.
	  	 Reference in Securities to Supplemental Indentures
	  	51
	
	ARTICLE TEN
	
	COVENANTS
			
	 SECTION 1001.
	  	 Payment of Principal, Premium and Interest
	  	52
	 SECTION 1002.
	  	 Maintenance of Office or Agency
	  	52
	 SECTION 1003.
	  	 Money for Securities Payments to Be Held in Trust
	  	52
	 SECTION 1004.
	  	 Corporate Existence
	  	54
	 SECTION 1005.
	  	 Limitation on Liens
	  	54
	 SECTION 1006.
	  	 Statement as to Compliance
	  	55
	 SECTION 1007.
	  	 Waiver of Certain Covenants
	  	56
	
	ARTICLE ELEVEN
	
	REDEMPTION OF SECURITIES
			
	 SECTION 1101.
	  	 Applicability of Article
	  	56

  

 iv 

					
	 SECTION 1102.
	  	 Election to Redeem; Notice to Trustee
	  	56
	 SECTION 1103.
	  	 Selection by Trustee of Securities to be Redeemed
	  	57
	 SECTION 1104.
	  	 Notice of Redemption
	  	57
	 SECTION 1105.
	  	 Deposit of Redemption Price
	  	58
	 SECTION 1106.
	  	 Securities Payable on Redemption Date
	  	58
	 SECTION 1107.
	  	 Securities Redeemed in Part
	  	58
	
	ARTICLE TWELVE
	
	SINKING FUNDS
			
	 SECTION 1201.
	  	 Applicability of Article
	  	59
	 SECTION 1202.
	  	 Satisfaction of Sinking Fund Payments with Securities
	  	59
	 SECTION 1203.
	  	 Redemption of Securities for Sinking Fund
	  	59

  

 v 

 INDENTURE, dated as of November 20, 2009, between PACCAR Financial Corp., a corporation duly
organized and existing under the laws of the State of Washington (herein called the “Company”), having its principal office at 777 106th Avenue, N. E., Bellevue, Washington 98004, and The Bank of New York Mellon Trust Company, N.A., a
national banking association, as Trustee (herein called the “Trustee”). 
 RECITALS OF THE COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured
and unsubordinated debentures, notes or other evidences of senior indebtedness (herein called the “Securities”) to be issued in one or more series as in this Indenture provided. 
 All things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the
Securities or of any series thereof, as follows: 
 ARTICLE ONE 
 DEFINITIONS AND OTHER PROVISIONS 
 OF GENERAL APPLICATION

 SECTION 101. Definitions. 
 For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular; 
 (2) all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have
the meanings assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have the meanings
assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted
hereunder shall mean such accounting principles as are generally accepted at the date of such computation; and 
  

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 (4) the words “herein,” “hereof” and
“hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 
 Certain terms, used principally in Article Six, are defined in that Article. 
 “Act,” when used with respect to any Holder, has the meaning specified in Section 104. 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition,
“control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the
terms “controlling” and “controlled” have meanings correlative to the foregoing. 
 “Authenticating
Agent” means any Person authorized by the Trustee to act on behalf of the Trustee to authenticate and deliver Securities. 
 “Board of Directors” means either the board of directors of the Company or any duly authorized committee of that board. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force
and effect on the date of such certification, and delivered to the Trustee. 
 “Business Day,” when used with respect
to any Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of Payment are authorized or obligated by law to close, except as may otherwise be provided in the
form of Securities of any particular series pursuant to the provisions of this Indenture. 
 “Commission” means the
Securities and Exchange Commission, as from time to time constituted, created under the Securities Exchange Act of 1934, as amended, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties
now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 
 “Company”
means the Person named as the “Company” in the first paragraph of this Indenture until a successor corporation shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean
such successor corporation. 
 “Company Request” or “Company Order” means a written request or order signed
in the name of the Company by its Chairman, its President, any Vice Chairman, any Vice President or its Treasurer and by an Assistant Treasurer, its Controller, an Assistant Controller, its Secretary or an Assistant Secretary, and delivered to the
Trustee. 
  

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 “Consolidated Assets” means the aggregate amount of assets (less applicable
reserves for depreciation, amortization, unearned finance charges, allowance for credit losses and other properly deductible items) after deducting therefrom all goodwill, trade names, trademarks, patents, organization expenses and other like
intangibles, all as set forth on the most recent balance sheet of the Company and its consolidated Subsidiaries and computed in accordance with generally accepted accounting principles. 
 “Corporate Trust Office” means the principal corporate trust office of the Trustee at which at any particular time its corporate
trust business shall be administered. At the date of this Indenture, the Corporate Trust Office of the Trustee is located at 101 Barclay Street – 8 West, New York, New York 10286. 
 “corporation” includes corporations, associations, companies and business trusts. 
 “Defaulted Interest” has the meaning specified in Section 307. 
 “Depositary” means, with respect to the Securities of any series issuable or issued in the form of a global Security, the Person
designated as Depositary by the Company pursuant to Section 301 until a successor Depositary shall have been appointed pursuant to Section 305, and thereafter ‘Depositary’ shall mean or include each Person who is then a
Depositary hereunder, and if at any time there is more than one such Person, ‘Depositary’ as used with respect to the Securities of any such series shall mean the Depositary with respect to the Securities of that series. 
 “Event of Default” has the meaning specified in Section 501. 
 “Holder” means a Person in whose name a Security is registered in the Security Register. 
 “Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more
indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include any Officers’ Certificates setting forth the form and terms of particular series of Securities as contemplated by Sections 201 and
301. 
 “interest,” when used with respect to an Original Issue Discount Security which by its terms bears interest
only after Maturity, means interest payable after Maturity. 
 “Interest Payment Date,” when used with respect to any
Security, means the Stated Maturity of an installment of interest on such Security. 
 “Lien” means any interest in
Property securing an obligation owed to, or a claim by, a Person other than the owner of the Property, including but not limited to a security interest arising from a mortgage, encumbrance, pledge, conditional sale or trust receipt, or a lease,
consignment or bailment for security purposes. For the purpose of this definition, a Person shall be deemed to be the owner of any Property which it has or holds subject to a conditional sale arrangement, financing lease or other arrangement
pursuant to which title to the Property has been retained by or is vested in some other Person for security purposes. 
  

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 “Maturity,” when used with respect to any Security, means the date on which the
principal of such Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 
 “Officers’ Certificate” means a certificate signed by the Chairman, the President, a Vice Chairman, a Vice President or the
Treasurer, and by an Assistant Treasurer, the Controller, an Assistant Controller, the Secretary or an Assistant Secretary, of the Company, and delivered to the Trustee. 
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company, and who shall be acceptable to the Trustee, which opinion is delivered to the Trustee. 
 “Original Issue Discount Security” means any Security which provides for an amount less than the principal amount thereof to be
due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 
 “Outstanding,” when used with respect to Securities, means, as of the date of determination, all Securities theretofore authenticated and delivered under this Indenture, except: 
 (i) Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 
 (ii) Securities or portions thereof for whose payment or redemption money in the necessary amount has been theretofore
deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities; provided that, if such
Securities or portions thereof are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; and 
 (iii) Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities
have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide
purchaser in whose hands such Securities are valid obligations of the Company; 
 provided, however, that in determining whether the Holders of
the requisite principal amount of Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the
Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver,
only Securities which the Trustee knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s
right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the company or of such other obligor. In determining the requisite principal

  

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amount of any original Issue Discount Security, such Principal amount that shall be deemed to be Outstanding shall be equal to the amount of the principal thereof that could be declared to be due
and payable upon an Event of Default pursuant to the terms of such Original Issue Discount Security at the time of such determination. 
 “Paying Agent” means any Person authorized by the Company to pay the principal of (and premium, if any) or interest, if any, on any Security on behalf of the Company. 
 “Person” means any individual, corporation, Partnership, joint venture, association, joint-stock company, trust, unincorporated
organization or government or any agency or political subdivision thereof. 
 “Place of Payment,” when used with
respect to the Securities of any series, means the place or places where the principal of (and premium, if any) and interest, if any, on the Securities of that series are payable as specified as contemplated in Section 301 or, if not so
specified, as specified in Section 1002. 
 “Predecessor Security” of any particular Security means every
previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in lieu of a mutilated,
destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Property” means any kind of property or asset, whether real, personal or mixed, tangible or intangible. 
 “Redemption Date,” when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption Price,” when used with respect to any Security to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture. 
 “Regular Record Date” for the interest payable on any Interest Payment Date on the Securities of any series means the date
specified for that purpose as contemplated by Section 301. 
 “Responsible Officer,” when used with respect to
the Trustee, means the president, any vice president, the secretary, any assistant secretary, the treasurer, any assistant treasurer, any senior trust officer or trust officer or any other officer of the Trustee customarily performing functions
similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular
subject in each case having direct responsibility for the administration of this Indenture. 
 “Restricted Debt,” when
used with respect to the Company or any Subsidiary, means any indebtedness for money borrowed, including but not limited to any loan, whether or not evidenced by negotiable instruments or securities, or any note, bond, debenture or other evidence of
indebtedness for money borrowed, for which the Company or such Subsidiary is liable, directly or

  

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indirectly, absolutely or contingently. Restricted Debt shall not include any indebtedness for the payment, redemption or satisfaction of which money (or other Property permitted under the
instrument creating or evidencing such indebtedness) in the necessary amount shall have been deposited in trust with a trustee or proper depository at or before the maturity or redemption date thereof. For the purposes of this definition,
“indebtedness for money borrowed” shall include, without limitation, obligations created or arising under any conditional sale, financing lease, or other title retention agreement and obligations to pay for Property. 
 “Securities” has the meaning stated in the first recital of this Indenture and more particularly means any Securities
authenticated and delivered under this Indenture. 
 “Security Register” and “Security Registrar” have the
respective meanings specified in Section 305. 
 “Special Record Date” for the payment of any Defaulted Interest
means a date fixed by the Trustee pursuant to Section 307. 
 “Stated Maturity,” when used with respect to any
Security or any installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 
 “Subsidiary” means a corporation more than 50% of the outstanding voting stock of which is owned, directly or indirectly, by the
Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition, “voting stock” means stock which ordinarily has voting power for the election of directors, whether at
all times or only so long as no senior class of stock has such voting power by reason of any contingency. 
 “Trustee”
means the Person named as the “Trustee” in the first paragraph of this instrument until a successor trustee shall have become such with respect to one or more series of Securities pursuant to the applicable provisions of this indenture,
and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, provided, however, that if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series
shall mean the Trustee with respect to Securities of that series. 
 “Trust Indenture Act” means the Trust Indenture
Act of 1939 as in force at the date as of which this instrument was executed, except as provided in Section 905. 
 “Vice President,” when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title “vice president.” 
  

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 SECTION 102. Compliance Certificates and Opinions. 
 Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall
furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such
counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to
such particular application or request, no additional certificate or opinion need be furnished. 
 Every certificate or opinion
with respect to compliance with a condition or covenant provided for in this Indenture shall include: 
 (1) a
statement that each individual signing such certificate or opinion has read such condition or covenant and the definitions herein relating thereto; 
 (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of each such individual, he has made such examination or investigation as is
necessary to enable him to express an informed opinion as to whether or not such condition or covenant has been complied with; and 
 (4) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 
 SECTION 103. Form of Documents Delivered to Trustee. 
 In any case where several
matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by
only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several
documents. 
 Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon
a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or
opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the
information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are
erroneous. 
  

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 Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 SECTION 104. 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 (or Holders of any series) may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person
or by agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the
Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument
or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Section 601) conclusive in favor of the Trustee and the Company and any agent of the Trustee or the Company, if made in the manner
provided in this Section. 
 (b) The fact and date of the execution by any Person of any such instrument or writing may be
proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him
the execution thereof. Where such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such
instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient; and the Trustee may in any instance require further proof with respect to any of the matters
referred to in this Section. 
 (c) The ownership of Securities shall be proved by the Security Register. 
 (d) If the Company shall solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other Act, the
Company may, at its option, by Board Resolution, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company shall have no
obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the close of business on such
record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of Outstanding Securities have authorized or agreed or consented to such request, demand, authorization, direction, notice,
consent, waiver or other Act, and for that purpose the Outstanding Securities shall be computed as of such record date, provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it
shall become effective pursuant to the provisions of this Indenture not later than six months after the record date. 
  

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 (e) Any request, demand, authorization, direction, notice, consent, waiver or other Act of
the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or
suffered to be done by the Trustee, the Security Registrar, any Paying Agent or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
 (f) With respect to any act to be taken by the Holders of Securities denominated in different currencies or composite currency units, for
the purpose of determining the principal amount of Outstanding Securities held by such Holders, the aggregate principal amount of such Securities denominated in a coin or currency or currency unit other than coin or currency of the United States of
America shall be deemed to be that amount of coin or currency of the United States of America that could be obtained for such principal amount on the basis of the spot rate of exchange for such other currency or currency unit as determined by the
Company as of the date of original issuance of such Securities and evidenced to the Trustee by an Officers’ Certificate. 
 SECTION 105.
Notices, Etc., to Trustee and Company. 
 Except as otherwise specifically provided herein, any request, demand, authorization,
direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with, 
 (1) the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or
filed in writing to or with the Trustee at its Corporate Trust Office, or 
 (2) the Company by the Trustee or by
any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to the attention of its President at the address of its principal
office specified in the first paragraph of this instrument or at any other address previously furnished in writing to the Trustee by the Company. 
 The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic methods;
provided, however, that (a) the party providing such written instructions, subsequent to such transmission of written instructions, shall provide the originally executed instructions or directions to the Trustee in a timely
manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the party providing such instructions or directions. If the party elects to give the Trustee e-mail or facsimile instructions
(or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any

  

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losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent
with a subsequent written instruction. The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the
risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. 
 SECTION 106. Notice to
Holders; Waiver. 
 Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given
(unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at his address as it appears in the Security Register, not later than the latest date, and not earlier than
the earliest date, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency
of such notice with respect to other Holders. Any notice mailed in the manner prescribed by this Indenture shall be conclusively presumed to have been duly given whether or not received by any particular Holder. Where this Indenture provides for
notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 
 In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a
sufficient notification for every purpose hereunder. 
 SECTION 107. Conflict with Trust Indenture Act. 
 If any provision hereof limits, qualifies or conflicts with another provision hereof which is required to be included in this Indenture by
any of the provisions of the Trust Indenture Act, such required provision shall control. 
 SECTION 108. Effect of Headings and Table of
Contents. 
 The Article and Section headings herein and the Table of Contents are for convenience only and shall not
affect the construction hereof. 
 SECTION 109. Successors and Assigns. 
 All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not.

  

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 SECTION 110. Separability Clause. 
 In case any provision of this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 111. Benefits of Indenture.

 Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto,
any Paying Agent, any Security Registrar, or any Authenticating Agent and their respective successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
 SECTION 112. Governing Law. 
 This
Indenture and the Securities shall be governed by and construed in accordance with the laws of the State of New York. 
 SECTION 113. Legal
Holidays. 
 In any case where any Interest Payment Date, Redemption Date, the Stated Maturity of any Security or any date upon
which any Defaulted Interest is proposed to be paid shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities) payment of interest, if any, or principal (and premium, if
any) need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date, Redemption Date, at the Stated
Maturity, or on the date for payment of Defaulted Interest, provided that no interest shall accrue for the period from and after such Interest Payment Date, Redemption Date, Stated Maturity or date for the payment of Defaulted Interest, as the case
may be. 
 SECTION 114. Indenture and Securities Solely Corporate Obligations. 
 No recourse for the payment of the principal of (or premium, if any) or interest on any Security, or for any claim based thereon or
otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company in this Indenture or in any supplemental indenture, or in any Security, or because of the creation of any indebtedness represented
thereby, shall be had against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by
virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a
consideration for, the execution of this Indenture and the issue of the Securities. 
  

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 SECTION 115. No Security Interest Created. 
 Nothing in this Indenture or in the Securities, expressed or implied, shall be construed to constitute a security interest under the Uniform
Commercial Code or similar legislation as now or hereafter enacted and in effect, in any jurisdiction where the property of the Company or its Subsidiaries is located. 
 SECTION 116. Force Majeure. 
 In no event shall the Trustee be responsible or
liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or
terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall
use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 ARTICLE TWO 
 SECURITY FORMS 
 SECTION 201. Forms Generally. 
 The Securities of each series shall be in substantially the form as shall be established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any
securities exchange or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution of the Securities. If the form of Securities of any series is established by action taken pursuant to a
Board Resolution, an appropriate Officers’ Certificate setting forth such form together with a copy of the Board Resolution shall be delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 303 for
the authentication and delivery of such Securities. 
 The certificated Securities shall be printed, typed, lithographed or
engraved or produced by any combination of these methods or may be produced in any other manner permitted by the rules of any securities exchange on which the Securities may be listed, all as determined by the officers executing such Securities, as
evidenced by their execution of such Securities. 
  

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 SECTION 202. Form of Trustee’s Certificate of Authentication. 
 The Trustee’s certificate of authentication shall be in substantially the form set forth below: 
 This is one of the Securities of the series designated herein issued under the within-mentioned Indenture. 
  

			
	The Bank of New York Mellon Trust Company, N.A., as Trustee
		
	By	 	  

		 	Authorized Officer

 SECTION 203. Global Form. 
 If Securities of a series are issuable in whole or in part in global form, as may be specified as contemplated by Section 301, then,
notwithstanding Clause (8) of Section 301 and the provisions of Section 302, such global Securities shall represent such of the Outstanding Securities of such series as shall be specified therein and may provide that it shall
represent the aggregate amount of Outstanding Securities from time to time endorsed thereon and that the aggregate amount of Outstanding Securities represented thereby may from time to time be reduced to reflect exchanges or increased to reflect the
issuance of additional uncertificated Securities of such series. Any endorsement of a global Security to reflect the amount, or any increase or decrease in the amount, of Outstanding Securities represented thereby shall be made in such manner and
upon instructions given by such Person or Persons as shall be specified therein or in the Company Order to be delivered to the Trustee pursuant to Section 303 or Section 304. 
 ARTICLE THREE 
 THE SECURITIES 
 SECTION 301. Amount Unlimited; Issuable in Series. 
 The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 
 The Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or more
indentures supplemental hereto, prior to the issuance of Securities of any series: 
 (1) the title of the
Securities of the series (which shall distinguish the Securities of the series from the Securities of all other series); 
 (2) any limit upon the aggregate principal amount of the Securities of the series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon
registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 304, 305, 306, 906 or 1107); 
  

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 (3) the date or dates on which the principal of (and premium, if any, on)
the Securities of the series is payable, or the manner in which such dates are determined; 
 (4) the rate or
rates at which the Securities of the series shall bear interest, if any, or the manner in which such rates are determined, the date or dates from which any such interest shall accrue, or the manner in which such dates are determined, the Interest
Payment Dates on which any such interest shall be payable, the Regular Record Dates, if any, for the payment of interest on any Interest Payment Date and the rate or rates of interest, if any, payable on overdue installments of interest on or
principal of (or premium, if any, on) the Securities of the series; 
 (5) if other than the Trustee, the
identity of the Security Registrar and, if other than as specified in Section 1002, the place or places where the principal of (and premium, if any) and interest, if any, on Securities of the series shall be payable; 
 (6) if the Securities of such series are redeemable, the period or periods within which, the price or prices at which and the
terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company; 
 (7) the obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or
periods within which, the price or prices at which and the terms and conditions upon which Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 
 (8) if other than denominations of $1,000 and any integral multiple thereof, the denominations in which Securities of the
series shall be issuable; 
 (9) if other than the principal amount thereof, the portion of the principal amount
of Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502; 
 (10) additional covenants of the Company, if any, for the benefit of the Holders of Securities of such series and additional Events of Default, if any, with respect to Securities of such series;

 (11) if the provisions of Section 401(4) relating to satisfaction and discharge of Securities more than
one year prior to their Stated Maturity or redemption shall apply to Securities of the series, a statement of such fact; 
  

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 (12) the extent to which any of the Securities of the series will be
issuable in global form and, in such case, the Depositary for such global Security or Securities, the terms and conditions, if any, upon which such global Security may be exchanged in whole or in part for certificated Securities, and the manner in
which any interest payable on a global Security will be paid; 
 (13) if other than such coin or currency of the
United States of America as at the time of payment is legal tender for payment of public or private debts, the coin or currency or composite currency unit in which payment of the principal of (and premium, if any) and interest on the Securities of
the series shall be payable; 
 (14) if the principal of (and premium, if any) or interest on the Securities of
the series are to be payable, at the election of the Company or a Holder thereof, in a coin or currency or composite currency unit other than that in which the Securities are stated to be payable, the period or periods within which, and the terms
and conditions upon which, such election may be made; 
 (15) if the amount of payments of principal of (and
premium, if any) or interest on such Securities may be determined with reference to an index, formula or other method and the manner in which such amounts shall be determined; and 
 (16) any other terms, conditions, rights and preferences (or limitations on such rights and preferences) relating to the
Securities of such series. 
 All Securities of any one series shall be substantially identical except as to denomination and
the rate or rates of interest, if any, the date or dates from which interest shall accrue and maturity and except as may otherwise be provided in or pursuant to such Board Resolution and set forth in such Officers’ Certificate or in any such
indenture supplemental hereto. 
 If any of the terms of the series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth the
terms of the series. 
 SECTION 302. Denominations. 
 The Securities of each series shall be issuable in registered form without coupons in such denominations as shall be specified as contemplated by Section 301. In the absence of any such provisions
with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $1,000 and any integral multiple thereof. 
  

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 SECTION 303. Execution, Authentication, Delivery and Dating. 
 The Securities shall be executed on behalf of the Company by its Chairman, any Vice Chairman or its President, under its corporate seal
reproduced thereon attested by its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Securities may be manual or facsimile. 
 Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that such individuals or any of them
have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 
 At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver to the Trustee or an Authenticating Agent for authentication Securities of any series executed
by the Company, together with a Company Order for the authentication and delivery of such Securities, and the Trustee or such Authenticating Agent in accordance with the Company Order shall authenticate and deliver such Securities. If all the
Securities of any series are not to be issued at one time, and if the Board Resolution, Officers’ Certificate or supplemental indenture establishing such series shall so permit, such Company Order may set forth procedures acceptable to the
Trustee for the issuance of such Securities and the determination of the terms of particular Securities of such series such as interest rate, maturity date, date of issuance and date from which interest shall accrue. If the form or terms of the
Securities of the series have been established in or pursuant to one or more Board Resolutions as permitted by Sections 201 and 301, in authenticating such Securities, and accepting the additional responsibilities under this Indenture in
relation to such Securities, the Trustee shall receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating, 
 (a) if the form of such Securities has been established by or pursuant to Board Resolution as permitted by Section 201, that such form has been established in conformity with the provisions of this
Indenture; and 
 (b) if the terms of such Securities have been established by or pursuant to Board Resolution as permitted by
Section 301, that such terms have been established in conformity with the provisions of this Indenture. 
 If all the
Securities of any series are not to be issued at one time, it shall not be necessary to deliver an Opinion of Counsel at the time of issuance of each Security, but such Opinion of Counsel, with appropriate modifications, may instead be delivered at
or prior to the time of issuance of the first Security of such series. 
 If the Company shall establish pursuant to
Section 301 that the Securities of a series are to be issued in whole or in part in the form of one or more global Securities, then the Company shall execute and the Trustee or an Authenticating Agent shall, in accordance with this Section and
a Company Order for the authentication and delivery of such global Securities with respect to such series, authenticate and deliver one or more global Securities that (1) shall represent and shall be denominated in an aggregate amount equal to
the aggregate principal amount of the Outstanding Securities of such series to be represented by one or more global Securities, (2) shall be registered in the name of the Depositary for such global Security or Securities or the nominee of such

  

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Depositary, which shall be considered sole owner of the Securities represented by such global Security or Securities for all purposes hereunder whatsoever, and (3) shall be delivered by the
Trustee to such Depositary or pursuant to such Depositary’s instructions. 
 Each Depositary designated pursuant to
Section 301 for a global Security in registered form must, at the time of its designation and at all times while it serves as Depositary, be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and any other
applicable statute or regulation. 
 The Trustee or any Authenticating Agent shall have the right to decline to authenticate and
deliver any of such Securities if it, being advised by counsel, determines that such activity may not lawfully be taken, or if it, its board of directors, trustees, executive committee, or a trust committee of directors or trustees and/or vice
president shall determine in good faith that such action would expose it to personal liability to existing Holders or if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under
the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee. 
 Each Security
shall be dated the date of its authentication. 
 No Security shall be entitled to any benefit under this Indenture or be valid
or obligatory for any purpose unless there appears on such Security a certificate of authentication substantially in the form provided for herein executed by the Trustee or an Authenticating Agent by manual signature, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture. 
 SECTION 304. Temporary Securities. 
 Pending the preparation of certificated
Securities of any series, the Company may execute, and upon Company Order the Trustee or an Authenticating Agent shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced,
in any authorized denomination, substantially of the tenor of the certificated Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities
may determine, as evidenced by their execution of such Securities. 
 If temporary Securities of any series are issued, the
Company will cause certificated Securities of that series to be prepared without unreasonable delay. After the preparation of certificated Securities of such series, the temporary Securities of such series shall be exchangeable for certificated
Securities of such series upon surrender of the temporary Securities of such series at the office or agency established by the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or
more temporary Securities of any series the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of certificated Securities of the same series of authorized denominations. Until so
exchanged the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as certificated Securities of such series. 
  

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 SECTION 305. Registration, Registration of Transfer and Exchange. 
 With respect to each series of Securities, the Company shall cause to be kept at one of the offices or agencies maintained pursuant to
Section 1002 a register (the register maintained in such office and in any other office or agency established by the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which,
subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities of that series and of transfers of Securities of that series. Pursuant to Section 301, the Company shall appoint, with
respect to Securities of each series, a “Security Registrar” for the purpose of registering such Securities and transfers and exchanges of such Securities as herein provided. In the event the Trustee shall not be Security Registrar, it
shall have the right to examine the Security Register at all reasonable times. 
 Upon surrender for registration of transfer of
any Security of any series at the designated office or agency in a Place of Payment for that series, the Company shall execute, and the Trustee or an Authenticating Agent shall authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Securities of the same series, of any authorized denominations and of a like tenor, aggregate principal amount and Stated Maturity. 
 At the option of the Holder, Securities of any series may be exchanged for other Securities of the same series, of any authorized denominations and of a like tenor, aggregate principal amount and Stated
Maturity, upon surrender of the Securities to be exchanged at such office or agency and upon payment, if the Company shall so require, of the charges hereinafter provided. Whenever any Securities are so surrendered for exchange, the Company shall
execute, and the Trustee or an Authenticating Agent shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 
 If at any time the Depositary for the Securities of a series notifies the Company that it is unwilling or unable to continue as Depositary for the Securities of such series or if at any time the
Depositary for the Securities of such series’ shall no longer be eligible under Section 303, the Company shall appoint a successor Depositary with respect to the Securities of such series. If a successor Depositary for the Securities of
such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such ineligibility, the Company’s election pursuant to Section 301 (12) shall no longer be effective with respect to
the Securities of such series and the Company will execute, and the Trustee or an Authenticating Agent, upon receipt of a Company Order for the authentication and delivery of certificated Securities of such series, will authenticate and deliver
Securities of such series of like tenor and terms in certificated form in an aggregate principal amount equal to the principal amount of the global Security or Securities representing such series in exchange for such global Security or Securities.

 The Company may at any time and in its sole discretion determine that the Securities of any series issued in the form of one
or more global Securities shall no longer be represented by such global Security or Securities. In such event, the Company will execute, and the Trustee or an Authenticating Agent, upon receipt of a Company Order for the authentication and delivery
of

  

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certificated Securities of such series, will authenticate and deliver Securities of such series of like tenor and terms in certificated form in an aggregate principal amount equal to the
principal amount of the global Security or Securities representing such series in exchange for such global Security or Securities. 
 If specified by the Company pursuant to Section 301 with respect to a series of Securities, the Depositary for such series of Securities may surrender a global Security for such series of Securities in exchange, in whole or in part,
for Securities of such series of like tenor and terms and in certificated form on such terms as are acceptable to the Company, the Trustee and such Depositary. Thereupon, the Company shall execute, and the Trustee or an Authenticating Agent upon
receipt of a Company Order for the authentication and delivery of certificated Securities of such series, shall authenticate and deliver, without service charge: 
 (a) to the Depositary or to each Person specified by such Depositary a new Security or Securities of the same series, of like
tenor and terms and of any authorized denomination as requested by such Person in aggregate principal amount equal to and in exchange for such Person’s beneficial interest in the global Security; and 
 (b) to such Depositary a new global Security of like tenor and terms and in an authorized denomination equal to the
difference, if any, between the principal amount of the surrendered global Security and the aggregate principal amount of Securities delivered to Holders thereof. 
 In addition, a global Security for a series of Securities shall be exchangeable for Securities of such series of like tenor and terms and in certificated form if an Event of Default has occurred and is
continuing with respect to the Securities. 
 In any exchange provided for in any of the preceding four paragraphs, the Company
will execute and the Trustee or an Authenticating Agent, pursuant to a Company Order, will authenticate and deliver Securities in certificated registered form in authorized denominations. 
 Upon the exchange of global Securities for Securities in certificated form, such global Securities shall be cancelled by the Trustee.
Securities issued in exchange for a global Security pursuant to this Section shall be registered in such names and in such authorized denominations, and delivered to such addresses, as the Depositary for such global Security, pursuant to
instructions from its direct or indirect participants or otherwise, shall instruct the Security Registrar in writing. The Trustee or an Authenticating Agent shall deliver such Securities to the Persons in whose names such Securities are so
registered or to the Depositary. 
 Notwithstanding any other provision of this Section, unless and until it is exchanged in
whole or in part for individual Securities represented thereby, a global Security representing all or a portion of the Securities of a series may not be transferred except as a whole by the Depositary for such series to a nominee of such Depositary
or by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by such Depositary or any such nominee to a successor Depositary for such series or a nominee of such successor Depositary. 
  

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 All Securities issued upon any registration of transfer or exchange of Securities shall be
the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 
 Every Security presented or surrendered for registration of transfer or exchange shall (if so required by the Company or the Trustee or the
Security Registrar) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar (and, if so required by the Trustee, to the Trustee) duly executed, by the Holder thereof or
his attorney duly authorized in writing. 
 No service charge shall be made for any registration of transfer or exchange of
Securities, but the Company or the Security Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than
exchanges pursuant to Section 304, 906 or 1107 not involving any transfer. 
 The Company shall not be required (i) to
issue, register the transfer of or exchange Securities of any series during a period beginning at the opening of business 15 days before the day of selection for redemption of Securities of that series selected for redemption under
Section 1103 and ending at the close of business on the day of the mailing of notice of redemption, or (ii) to register the transfer of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion
of any Security being redeemed in part. 
 SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities. 
 If there shall be delivered to the Company, the Trustee and the Security Registrar (i) a mutilated Security or evidence to their
satisfaction of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company, the
Trustee or the Security Registrar that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon its request the Trustee or an Authenticating Agent shall authenticate and deliver, in exchange for or in
lieu of any such mutilated, destroyed, lost or stolen Security, a new Security of the same series and of like tenor, principal amount and Stated Maturity and bearing a number not contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its
discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new Security under this
Section, the Company or the Security Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee
and the Security Registrar) connected therewith. 
  

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 Every new Security of any series issued pursuant to this Section in lieu of any
destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the
benefits of this Indenture equally and proportionately with any and all other Securities of that series duly issued hereunder. 
 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 SECTION 307. Payment of Interest; Interest Rights Preserved. 
 Except as otherwise specified with respect to a series of Securities in accordance with the provisions of Section 301, interest on any Security which is payable, and is punctually paid or duly
provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. 
 Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date
(herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its
election in each case, as provided in Clause (1) or (2) below: 
 (1) The Company may elect to
make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted
Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same
time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of
the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such
Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee
shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class
postage prepaid, to each Holder of Securities of such series at his address as it appears in the Security Register, not less than 10 days prior to such

  

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Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in
whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (2). 
 (2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not
inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to
this Clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this
Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other
Security. 
 SECTION 308. Persons Deemed Owners. 
 Prior to due presentment of a Security for registration of transfer, the Company, the Trustee, any Paying Agent, any Authenticating Agent and any other agent of the Company or the Trustee may treat the
Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of (and premium, if any) and (subject to Section 307) interest, if any, on such Security and for all other purposes
whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee, any Paying Agent, any Authenticating Agent nor any other agent of the Company or the Trustee shall be affected by notice to the contrary. 
 No holder of any beneficial interest in any global Security held on its behalf by a Depositary shall have any rights under the this
Indenture with respect to such global Security and such Depositary may be treated by the Company, the Trustee, and any agent of the Company or the Trustee as the sole owner of such global Security for all purposes whatsoever. None of the Company,
the Trustee, any Authenticating Agent, any Paying Agent or the Security Registrar shall have any responsibility for or liability in respect of any aspect of the records relating to, or payments made on account of, any beneficial ownership interests
in any global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests, and each shall be fully protected in acting or refraining from acting on any such information provided by the
Depositary. 
 SECTION 309. Cancellation. 
 All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be
delivered to the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered

  

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hereunder which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of
or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities shall be destroyed by the Trustee and the Trustee shall deliver a certificate of such destruction to
the Company, unless the Company by Company Order shall direct that such cancelled Securities be returned to it. 
 SECTION 310. Computation of
Interest. 
 Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the
Securities of each series shall be computed on the basis of a year of twelve 30-day months. 
 ARTICLE FOUR 
 SATISFACTION AND DISCHARGE 
 SECTION 401. Satisfaction and Discharge of Securities of any Series. 
 The Company shall be deemed to have satisfied
and discharged the entire indebtedness on all the Securities of any particular series and the Trustee, upon Company request and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of such
indebtedness, when 
 (1) either 
 (A) all Securities of such series theretofore authenticated and delivered (other than (i) Securities which have been
destroyed, lost or stolen and which have been replaced or paid as provided in Section 306 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter
repaid to the Company or discharged from such trust, as provided in the last paragraph of Section 1003) have been delivered to the Trustee for cancellation; or 
 (B) with respect to all Outstanding Securities of such series described in (A) above not theretofore delivered to the
Trustee for cancellation, 
 (i) the Company has deposited or caused to be deposited with the Trustee as trust
funds in trust an amount sufficient to pay and discharge the entire indebtedness on all such Outstanding Securities of such series for principal (and premium, if any) and interest to the Stated Maturity or any Redemption Date as contemplated by
Section 403, as the case may be; or 
  

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 (ii) to the extent the Securities of such series are payable in U.S.
dollars only, the Company has deposited or caused to be deposited with the Trustee as obligations in trust such amount of direct obligations of, or obligations the principal of and interest on which are fully guaranteed by, the United States of
America (other than obligations subject to prepayment, redemption or call prior to their stated maturity) as will, together with the predetermined and certain income to accrue thereon (without consideration of any reinvestment thereof), be
sufficient to pay and discharge when due the entire indebtedness on all such Outstanding Securities of such series for principal (and premium, if any) and interest to the Stated Maturity or any Redemption Date as contemplated by Section 403, as
the case may be: 
 (2) the Company has paid or caused to be paid all other sums payable with respect to the
Securities of such series; 
 (3) the Company has delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of the entire indebtedness on all Securities of such series have been complied with; and 
 (4) if (i) the entire indebtedness on the Outstanding Securities of such series is to be satisfied and discharged
pursuant to Section 401(1)(B) above, (ii) such Securities will not become due and payable at their Stated Maturity within one year after the date of deposit provided in Section 401(1) (B) above, and (iii) such Securities of
such series are not to be called for redemption within one year of the date of such deposit under arrangements satisfactory to the Trustee as of the date of such deposit, then (x) the Company shall have specified the applicability (as provided
in Section 301) of this Section 401(4) to the Securities of such series, (y) the Company shall have given, not later than the date of such deposit, notice of such deposit to the Holders of Securities of such series and (z) the
Trustee shall have received an Opinion of Counsel (which counsel shall be recognized tax counsel) stating that, in such counsel’s opinion, the deposit of funds or obligations and the satisfaction and discharge of indebtedness on the Securities
of such series pursuant to this Section 401 will not result in recognition by the Holders of income, gain or loss for federal income tax purposes (other than income, gain or loss which would have been recognized in like amount and at a like
time absent such deposit, satisfaction and discharge). 
  

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 Upon the satisfaction of the conditions set forth in this Section 401 with respect to
all the Securities of any series, the terms and conditions of such series, including the terms and conditions with respect thereto set forth in this Indenture, shall no longer be binding upon, or applicable to, the Company, and the Holders of the
Securities of such series shall look for payment only to the funds or obligations deposited with the Trustee pursuant to Section 401(1)(B); provided, however, that, in no event shall the Company be discharged from (a) any
payment obligations in respect of Securities of such series which are deemed not to be Outstanding under clause (iii) of the definition thereof if such obligations continue to be valid obligations of the Company under applicable law,
(b) from any obligations under Section 607 or the last paragraph of Section 1003, and (c) from any obligations under Section 305 and 306 (except that Securities of such series issued upon registration of transfer or exchange
or in lieu of mutilated, lost, destroyed or stolen Securities shall not be obligations of the Company), and Section 701. 
 SECTION 402.
Satisfaction and Discharge of Indenture. 
 Upon compliance by the Company with the provisions of Section 401 as to the
satisfaction and discharge of each series of Securities issued hereunder, this Indenture shall cease to be of any further effect (except as otherwise provided herein). Upon Company Request (and at the expense of the Company), the Trustee shall
execute proper instruments acknowledging satisfaction and discharge of this Indenture. In the event there are two or more Trustees hereunder, then the effectiveness of any such instrument shall be conditioned upon receipt of such instruments from
all Trustees hereunder. 
 Notwithstanding the satisfaction and discharge of this Indenture, any obligations of the Company
under Sections 305, 306, 607 and 701 and the last paragraph of Section 1003, and of the Trustee under Sections 403 and 614 and the last two paragraphs of Section 1003, shall survive. 
 SECTION 403. Application of Trust Money. 
 Subject to the provisions of the last two paragraphs of Section 1003, all money and obligations deposited with the Trustee pursuant to Section 401 shall be held irrevocably in trust and shall be made under the terms of an escrow
trust agreement in form and substance satisfactory to the Trustee. Such money and obligations shall be applied by the Trustee, in accordance with the provisions of the Securities, this Indenture and such escrow trust agreement, to the payment,
either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of the principal of (and premium, if any) and interest, if any, on the Securities for
the payment of which such money and obligations have been deposited with the Trustee (but such money need not be segregated from other funds except to the extent required by law). If Securities of any series are to be redeemed prior to their Stated
Maturity, whether pursuant to any optional redemption provisions or in accordance with any mandatory sinking fund requirement, the Company shall make such arrangements as are satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense, of the Company. 
  

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 ARTICLE FIVE 
 REMEDIES 
 SECTION 501. Events of Default. 
 “Event of Default,” wherever used herein with respect to Securities of any series, 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 the payment of any interest upon any Security of that series when it becomes due and
payable, and continuance of such default for a period of 30 days; or 
 (2) default in the payment of the
principal of (or premium, if any, on) any Security of that series at its Maturity; or 
 (3) default in the
deposit of any sinking fund payment, when and as due by the terms of a Security of that series; or 
 (4) default
in the performance, or breach, of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has
expressly been included in this Indenture solely for the benefit of series of Securities other than that series), and continuance of such default or breach for a period of 90 days after there has been given, by registered or certified mail, to
the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and
stating that such notice is a “Notice of Default” hereunder; or 
 (5) the entry by a court having
jurisdiction in the premises of a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or appointing a custodian,
receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of the whole or substantially all of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or
order for relief or any such other decree or order unstayed and in effect for a period of 90 consecutive days; or 
 (6) the commencement by the Company of a voluntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or the consent by it to the entry of a decree or order for relief in

  

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respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the commencement of any
bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable Federal or State law, or the consent by it to the filing of such petition or to the
appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of the Company or of the whole or substantially all of its property, or the making by it of an assignment for the benefit
of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Company in furtherance of any such action; or 
 (7) a default under any mortgage, indenture (including this Indenture) or instrument under which there may be issued or by
which there may be secured or evidenced any indebtedness for money borrowed of the Company, whether such indebtedness now exists or shall hereafter be created, which default shall have resulted in such indebtedness in an aggregate principal amount
exceeding $50,000,000 (except that such dollar amount shall not apply with respect to a default with respect to Securities of any series), becoming or being declared due and payable prior to the date on which it would otherwise have become due and
payable, without such acceleration having been rescinded or annulled or such indebtedness having been discharged within a period of 30 days after there shall have been given, by registered or certified mail, to the Company by the Trustee or to
the Company and the Trustee by the Holders of at least 25 percent in principal amount of the Outstanding Securities of that series a written notice specifying such default and requiring the Company to cause such acceleration to be rescinded or
annulled or such indebtedness to be discharged and stating that such notice is a “Notice of Default” hereunder; provided, however, that subject to the provisions of Sections 601 and 602, the Trustee shall not be deemed to have
knowledge of such default unless either (a) a Responsible Officer of the Trustee shall have actual knowledge of such default or (b) the Trustee shall have received written notice thereof from the Company, from any Holder, from the holder
of any such indebtedness or from the Trustee under any such mortgage, indenture or other instrument; or 
 (8)
any other Event of Default provided with respect to the Securities of that series pursuant to Section 301 or in a supplemental indenture. 
  

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 SECTION 502. Acceleration of Maturity; Rescission and Annulment. 
 If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, other than an Event of
Default specified in Section 501(5) or Section 501(6), then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if the
Securities of that series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing
to the Company (and to the Trustee if given by Holders). If an Event of Default specified in Section 501(5) or Section 501(6) occurs and is continuing, the principal amount of the Outstanding Securities of that series or, if the Securities
of that series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series, shall automatically become due and payable. Upon any such acceleration the principal amount (or specified
portion) of the Securities of that series shall become immediately due and payable. 
 Upon payment of such amount, all
obligations of the Company in respect of the payment of principal of the Securities of such series shall terminate. 
 At any
time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders
of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if 
 (1) the Company has paid or deposited with the Trustee a sum sufficient to pay 
 (A) all overdue interest, if any, on all Securities of that series, 
 (B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such
declaration of acceleration and interest thereon at the rate or rates prescribed therefor in such Securities, 
 (C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates, if any, prescribed therefor in such Securities, and 
 (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel; and 
 (2) all Events of Default with respect to Securities of that series, other than
the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured, or waived as provided in Section 513. 
 No such rescission shall affect any subsequent default or impair any right consequent thereon. 
  

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 SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee. 
 The Company covenants that if 
 (1) default is made in the payment of any interest on any Security of any series when such interest becomes due and payable and such default continues for a period of 30 days, or 
 (2) default is made in the payment of the principal of (or premium, if any, on) any Security of any series at the Maturity
thereof, 
 the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of Securities of such series, the whole
amount then due and payable on Securities of such series for principal (and premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any) and on
any overdue interest, at the rate or rates, if any, prescribed therefor in such Securities; and, in addition thereto, 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. 
 If the Company fails to pay such amounts
forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may
enforce the same against the Company or any other obligor upon such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities,
wherever situated. 
 If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may
in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether
for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
 SECTION 504. Trustee May File Proofs of Claim. 
 In case of the pendency of any
receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other
obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration of acceleration or otherwise and irrespective of whether the Trustee shall have
made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, 
 (i) to file and prove a claim for the whole amount of principal (or with respect to Original Issue Discount

  

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Securities, such portion of the principal amount as may be specified in the terms of such Securities), and premium, if any and interest owing and unpaid in respect of the Securities and to file
such 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 of the
Holders allowed in such judicial proceeding, and 
 (ii) to collect and receive any moneys or other property
payable or deliverable on any such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator,
sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders,
to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 607. 
 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 Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 SECTION 505. Trustee May Enforce Claims Without Possession of Securities. 
 All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any
proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered. 
 SECTION 506. Application of Money Collected. 
 Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of
principal (or premium, if any) or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 
 FIRST: To the payment of all amounts due the Trustee under Section 607; 
  

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 SECOND: To the payment of the amounts then due and unpaid for principal of
(and premium, if any) and interest, if any, on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such
Securities for principal (and premium, if any) and interest, if any, respectively; and 
 THIRD: The balance, if
any, to the Person or Persons entitled thereto. 
 SECTION 507. Limitation on Suits. 
 No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 
 (1) An
Event of Default shall have occurred and be continuing with respect to the Securities of that series and such Holder shall have previously given written notice thereof to the Trustee; 
 (2) the Holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made written
request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (3) such Holder or Holders have offered to the Trustee indemnity satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request; 
 (4) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any
such proceeding; and 
 (5) no direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series; 
 it being understood
and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holder or to obtain or to seek to
obtain priority or preference over any other Holder or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all Holders of Securities of such series. 
  

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 SECTION 508. Unconditional Right of Holders to Receive Principal, Premium and Interest. 
 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional,
to receive payment of the principal of (and premium, if any) and (subject to Section 307) interest, if any, on such Security on the Stated Maturity or Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date)
and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 
 SECTION 509. Restoration of Rights and Remedies. 
 If the Trustee or any Holder has instituted any proceeding to
enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in
such proceeding, the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such
proceeding had been instituted. 
 SECTION 510. Rights and Remedies Cumulative. 
 Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 306, 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 511. Delay or Omission Not Waiver. 
 No delay or omission of the Trustee or of any Holder of any Security 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 512. Control by Holders. 
 The Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the time, method
and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series, provided that 
 (1) such direction shall not be in conflict with any rule of law or with this Indenture, 
  

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 (2) the Trustee may take any other action deemed proper by the Trustee which
is not inconsistent with such direction, 
 (3) such direction is not unduly prejudicial to the rights of other
Holders, and 
 (4) such direction would not involve the Trustee in personal liability. 
 SECTION 513. Waiver of Past Defaults. 
 The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the Securities of such series waive any past default hereunder with respect to such series and its
consequences, except a default 
 (1) in the payment of the principal of (or premium, if any) or interest, if any
(subject to the provisions of Section 502), on any Security of such series, or 
 (2) in respect of a
covenant or provision hereof which under Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected. 
 Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for
every purpose of the Securities of such series under this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 
 SECTION 514. Undertaking for Costs. 
 All parties to this Indenture agree, and
each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for
any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable
attorneys’ fees at trial and on appeal, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to
any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the Outstanding Securities of any series, or to any
suit instituted by any Holder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Security on or after the Stated Maturity or Maturities expressed in such Security (or, in the case of redemption, on or
after the Redemption Date). 
  

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 SECTION 515. Waiver of Stay or Extension Laws. 
 The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that it may
lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such
power as though no such law had been enacted. 
 ARTICLE SIX 
 THE TRUSTEE 
 SECTION 601. Certain Duties and Responsibilities. 

(a) Except during the continuance of an Event of Default, 
 (1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and
no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (2) in the
absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements
of this Indenture; but in the case of any such certificate or opinion which by any provision hereof is specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not it
conforms to the requirements of this Indenture. 
 (b) In case 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 their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. 

(c) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that 
 (3) this Subsection shall not be
construed to limit the effect of Subsection (a) of this Section; 
 (4) the Trustee shall not be liable
for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
  

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 (5) the Trustee shall not be liable with respect to any action taken,
suffered or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in principal amount of the Outstanding Securities of any series, as provided in Section 512, relating to the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series; and 
 (6) No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial
liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is
not reasonably assured to it. 
 (d) Whether or not herein expressly so provided, every provision of this Indenture relating to
the conduct of or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 
 SECTION 602. Notice of Defaults. 
 Within 90 days after the occurrence of any default hereunder with respect to
the Securities of any series, the Trustee shall transmit by mail to all Holders of Securities of such series, as their names and addresses appear in the Security Register, notice of such default hereunder known to the Trustee, unless such default
shall have been cured or waived; provided, however, that except in the case of a default in the payment of the principal of (or premium, if any) or interest, if any, on any Security of such series, in the payment of any sinking fund installment with
respect to Securities of such series or in the payment of the Redemption Price of any Securities as to which notice of redemption has been given, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the
executive committee or a trust committee of directors or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interest of the Holders of Securities of such series; and provided, further, that in
the case of any default of the character specified in Section 501(4) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof. For the purpose of this Section,
the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series. 
  

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 SECTION 603. Certain Rights of Trustee. 
 Subject to the provisions of Section 601: 
 (a) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order,
bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (b) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any
resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 
 (c) whenever in the administration
of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of
bad faith on its part, rely upon an Officers’ Certificate; 
 (d) the Trustee may consult with counsel and the written
advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
 (e) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture or to institute, conduct
or defend any litigation hereunder or in relation hereto at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs,
expenses and liabilities which might be incurred by it in compliance with such request or direction; 
 (f) the Trustee shall
not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or
other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be
entitled to examine the books, records and premises of the Company, personally or by agent or attorney; 
 (g) the Trustee may
execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney,
including any Authenticating Agent, appointed with due care by it hereunder; 
 (h) the Trustee shall not be liable for any
action taken or omitted by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
  

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 (i) subject to Section 601(b), the right of the Trustee to perform any discretionary
act enumerated in this Indenture shall not be construed as a duty, and the Trustee shall not be answerable for other than its negligence or willful misconduct in the performance of such act; and 
 (j) the Trustee shall not be required to give any bond or surety in respect of the powers granted hereunder. 
 SECTION 604. Not Responsible for Recitals or Issuance of Securities. 
 The recitals contained herein and in the Securities, except certificates of authentication, shall be taken as the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes
any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application
by the Company of Securities or the proceeds thereof. 
 SECTION 605. May Hold Securities. 
 The Trustee, any Authenticating Agent, any Paying Agent, the Security Registrar or any other agent of the Company or the Trustee, in their
individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 608 and 613, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying
Agent, Security Registrar or such other agent. 
 SECTION 606. Money Held in Trust. 
 Money held by the Trustee or any Paying Agent in trust hereunder need not be segregated from other funds except to the extent required by
law. Neither the Trustee nor any Paying Agent shall be subject to any liability for interest on any money received by it hereunder except as otherwise agreed with the Company. 
 SECTION 607. Compensation and Reimbursement. 
 The Company agrees 
 (1) to pay to the Trustee from time to time reasonable compensation for all services rendered by it hereunder (which
compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
 (2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any
provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its negligence or bad faith; and 

 

 37 

 (3) to indemnify the Trustee and its agents for, and to hold them harmless
against, any loss, liability or expense incurred without negligence or bad faith on their part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending
themselves against any claim or liability in connection with the exercise or performance of any of their powers or duties hereunder. 
 To the extent not inconsistent with the Trust Indenture Act, anything in this Indenture to the contrary notwithstanding, in no event shall the Trustee be liable for any special, indirect or consequential loss or damage of any kind
whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 
 As security for the performance of the obligations of the Company under this Section, the Trustee shall have a lien prior to the Securities
upon all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal (or premium, if any) or interest, if any, on Securities. 
 SECTION 608. Disqualification; Conflicting Interests. 
 If the Trustee has or
shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act
and this Indenture. To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a trustee under this Indenture with respect to Securities of more than one series. 

SECTION 609. Corporate Trustee Required; Eligibility. 
 There shall at all times be a Trustee hereunder which shall be a corporation or banking association organized and doing business under the Laws of the United States, any State thereof or the District of
Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 subject to supervision or examination by Federal, State or District of Columbia authority. If such corporation or
banking association publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation
shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the Provisions of this Section, it shall resign
immediately in the manner and with the effect hereinafter specified in this Article. 
 SECTION 610. Resignation and Removal; Appointment of
Successor. 
 (a) No resignation or removal of the Trustee and no appointment of a successor Trustee or Trustees pursuant to
this Article shall become effective until the acceptance of appointment by the successor Trustee or Trustees in accordance with the applicable requirements of Section 611. 
  

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 (b) The Trustee may resign at any time with respect to the Securities of one or more series
by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the
resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 (c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to
the Trustee and to the Company. 
 (d) If at any time the Trustee shall fail to comply with Section 608 after written
request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, the Company by a Board Resolution may remove the Trustee with respect to the Securities of such series or, subject to
Section 514, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal
of the Trustee with respect to the Securities of such series and the appointment of a successor Trustee. 
 (e) If at any time:

 (2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written
request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or 
 (3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or
control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 
 then, in any such case,
(i) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (ii) subject to Section 514, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf
of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 
 (f) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any
cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such
successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable
requirements of Section 611. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to

  

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the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring
Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 611, become the successor Trustee with respect to the Securities of such series and
to that extent supersede the successor Trustee appointed by the Company with respect to such series. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of the Securities of
such series and accepted appointment in the manner required by Section 611, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 (g) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written
notice of such event by first-class mail, postage prepaid, to all Holders of Securities of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office. 
 SECTION 611. Acceptance of Appointment by Successor. 
 (a) In case of the appointment hereunder of a successor Trustee with respect to all series of Securities, every such successor Trustee so
appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its
charges due pursuant to Section 607, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all
property and money held by such retiring Trustee hereunder subject to the lien provided in Section 607. 
 (b) In case of
the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and
deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor
Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with
respect to all series of Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as
to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate

  

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the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the
same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture
the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and
deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, 
 (c) Upon request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in
and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 
 (d) No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this Article. 
 SECTION 612. Merger, Conversion, Consolidation or Succession to Business. 
 Any Person into which the Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Trustee shall be a
party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such Person shall be otherwise qualified and eligible under this Article, without
the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or
consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 
 SECTION 613. Preferential Collection of Claims Against Company. 
 If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the
collection of claims against the Company (or any such other obligor). 
 SECTION 614. Appointment of Authenticating Agent. 
 At any time when any of the Securities remain Outstanding, the Trustee may appoint an Authenticating Agent or Agents with respect to one or
more series of Securities which shall be authorized to act on behalf of the Trustee to authenticate and deliver Securities of such series with respect to which it has been so designated, and Securities so authenticated and delivered shall be
entitled

  

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to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the
authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate
of authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a bank or trust company or corporation organized and doing business and in good
standing under the laws of the United States, any State thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or
examination by Federal, State or District of Columbia authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes
of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall
cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section. 
 Any Person into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any Person resulting from
any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any Person succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent,
provided such Person shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 
 An Authenticating Agent may resign with respect to one or more series of Securities at any time by giving written notice thereof to the
Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent with respect to one or more series of Securities by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving
such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which
shall be acceptable to the Company and shall mail written notice of such appointment by first-class mail, postage prepaid, to all Holders of Securities of the series with respect to which such Authenticating Agent will serve, as their names and
addresses appear in the Security Register. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally
named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 
 The Company agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section. The provisions of Sections 104, 111, 603, 604 and 605 shall be
applicable to any Authenticating Agent. 
  

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 Pursuant to each appointment made under this Section, the Securities of each series covered
by such appointment may have endorsed thereon, in lieu of the Trustee’s certificate of authentication, an alternate certificate of authentication in substantially the following form: 
 This is one of the Securities, of the series designated herein, issued under the within-mentioned Indenture. 
  

			
	The Bank of New York Mellon Trust Company, N.A., as Trustee
		
	By	 	  

		 	    as Authenticating Agent
		
	By	 	  

		 	    Authorized Officer

 ARTICLE SEVEN 
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 
 SECTION 701. Company
to Furnish Trustee Names and Addresses of Holders. 
 The Company will furnish or cause to be furnished to the Trustee with
respect to the Securities of each series (a) semi-annually, either (i) not later than June 30 and December 31 in each year in the case of Original Issue Discount Securities which by their terms bear interest only after Maturity,
or (ii) not later than 15 days after each Regular Record Date in the case of Securities of any other series, if and so long as Securities of such series are Outstanding, and (b) at such other times as the Trustee may request in
writing, within 30 days after receipt by the Company of such request, a list in such form as the Trustee may reasonably require containing all the information in the possession or control of the Company, or any of its Paying Agents other than
the Trustee, as to the names and addresses of the Holders obtained since the date as of which the next previous list, if any, was furnished; provided, however, that any such list may exclude names and addresses received by the Trustee in its
capacity as Security Registrar if it shall be so acting. Any such list may be dated as of a date not more than 15 days prior to the time such information is furnished or caused to be furnished and need not include information received after
such date. 
 SECTION 702. Preservation of Information; Communications to Holders. 
 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the
most recent list furnished to the Trustee as provided in Section 701 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar or Paying Agent, if so acting. 
  

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 The Trustee may (i) destroy any list furnished to it as provided in Section 701
upon receipt of a new complete list so furnished, (ii) destroy any information received by it as Paying Agent or Security Registrar (if so acting) hereunder upon delivering to itself as Trustee, not earlier than 45 days after June 30
and December 31 of each year, a list containing the names and addresses of the Holders obtained from such information since the delivery of the next previous list, if any, and (iii) destroy any list delivered to itself as Trustee which was
compiled from information received by it as Paying Agent or Security Registrar (if so acting) hereunder upon the receipt of a new complete list so delivered. 
 (b) If three or more Holders of Securities of any series (herein referred to as “applicants”) apply in writing to the Trustee, and furnish to the Trustee reasonable proof that each such
applicant has owned a Security of such series for a period of at least six months preceding the date of such application, and such application states that the applicants desire to communicate with other Holders of Securities of such series or with
Holders of all Securities with respect to their rights under this Indenture or under such Securities and is accompanied by a copy of the form of proxy or other communication which such applicants propose to transmit, then the Trustee shall, within
five business days after the receipt of such application, at its election, either 
 (i) afford such applicants
access to the information preserved at the time by the Trustee in accordance with Section 702(a), or 
 (ii) inform such applicants as to the approximate number of Holders of Securities of such series or all Securities as the case may be whose names and addresses appear in the information preserved at the time by the Trustee in accordance
with Section 702(a), and as to the approximate cost of mailing to such Holders the form of proxy or other communication, if any, specified in such application. 
 If the Trustee shall elect not to afford such applicants access to such information, the Trustee shall upon the written request of such applicants mail to each Holder of Securities of such series or all
Securities as the case may be whose name and address appear in the information preserved at the time by the Trustee in accordance with Section 702(a), a copy of the form of proxy or other communication which is specified in such request, with
reasonable promptness after a tender to the Trustee of the material to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing, unless within five days after such tender the Trustee shall mail to such applicants
and file with the Commission, together with a copy of the material to be mailed, a written statement to the effect that, in the opinion of the Trustee, such mailing would be contrary to the best interest of the Holders of Securities of such series
or all Securities as the case may be or would be in violation of applicable law. Such written statement shall specify the basis of such opinion. If the Commission, after opportunity for a hearing upon the objections specified in the written
statement so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining one or more of such objections, the Commission shall find, after notice and opportunity for hearing, that all the
objections so sustained have

  

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been met and shall enter an order so declaring, the Trustee shall mail copies of such material to all such Holders with reasonable promptness after the entry of such order and the renewal of such
tender; otherwise the Trustee shall be relieved of any obligation or duty to such applicants respecting their application. 
 (c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the Trustee nor any Paving Agent nor the Security Registrar nor any agent of any of them shall be held
accountable by reason of the disclosure of any such information as to the names and addresses of Holders in accordance with Section 702(b), regardless of the source from which such information was derived, and that the Trustee shall not be held
accountable by reason of mailing any material pursuant to a request made under Section 702(b). 
 SECTION 703. Reports by Trustee.

 (a) Within 60 days after May 15 of each year commencing with the year 2010 if and so long as any Securities are
Outstanding hereunder, the Trustee shall transmit by mail to all Holders, as their names and addresses appear in the Security Register, a brief report dated as of such May 15 with respect to: 
 (2) its eligibility under Section 609 and its qualifications under Section 608, or in lieu thereof, if to the best
of its knowledge it has continued to be eligible and qualified under said Sections, a written statement to such effect; 
 (3) the character and amount of any advances (and if the Trustee elects so to state, the circumstances surrounding the making thereof) made by the Trustee (as such) which remain unpaid on the date of such report, and for the reimbursement
of which it claims or may claim a lien or charge prior to that of the Securities on any property or funds held or collected by it as Trustee, except that the Trustee shall not be required (but may elect) to report such advances if such advances so
remaining unpaid aggregate not more than 1/2 of 1% of the principal amount of the Securities Outstanding on the date of such report; 
 (4) the amount, interest rate and maturity date of all other indebtedness owing by the Company (or by any other obligor on the Securities) to the Trustee in its individual capacity, on the date of such
report, with a brief description of any property held as collateral security therefor, except an indebtedness based upon a creditor relationship arising in any manner described in Section 613(b) (2), (3), (4) or (6); 
 (5) the property and funds, if any, physically in the possession of the Trustee as such on the date of such report;

 (6) any additional issue of Securities which the Trustee has not previously reported; and 
  

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 (7) any action taken by the Trustee in the performance of its duties
hereunder which it has not previously reported and which in its opinion materially affects the Securities, except action in respect of a default, notice of which has been or is to be withheld by the Trustee in accordance with Section 602.

 (b) The Trustee shall transmit by mail to all Holders, as their names and addresses appear in the Security Register, a brief
report with respect to the character and amount of any advances (and if the Trustee elects so to state, the circumstances surrounding the making thereof) made by the Trustee (as such) since the date of the last report transmitted pursuant to
Subsection (a) of this Section (or if no such report has yet been so transmitted, since the date of execution of this instrument) for the reimbursement of which it claims or may claim a lien or charge prior to that of the Securities
on Property or funds held or collected by it as Trustee and which it has not previously reported pursuant to this Subsection, except that the Trustee shall not be required (but may elect) to report such advances if such advances remaining unpaid at
any time aggregate 10% or less of the principal amount of the Securities Outstanding at such time, such report to be transmitted within 90 days after such time. 
 (c) A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each securities exchange upon which any Securities are listed, with the Commission and with
the Company. The Company will notify the Trustee when any Securities are listed on any securities exchange. 
 SECTION 704. Reports by Company.

 The Company shall: 
 (1) file with the Trustee, within 15 days after the Company is required to file the same with the Commission, copies of the annual reports and of the information, documents and other reports (or
copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Company may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934, as amended; or, if the Company is not required to file information, documents or reports pursuant to either of said Sections, then it shall file with the Trustee and the Commission, in accordance with rules and
regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of the Securities Exchange Act of 1934, as amended, in respect of
a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 
 (2) file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such additional information, documents and reports with respect to
compliance by the Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and 
  

 46 

 (3) transmit by mail to all Holders, as their names and addresses appear in
the Security Register, within 30 days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by the Company pursuant to paragraphs (1) and (2) of this Section as may be
required by rules and regulations prescribed from time to time by the Commission. 
 ARTICLE EIGHT 
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
 SECTION 801. Company May Consolidate, Etc., Only on Certain Terms. 
 The Company
shall not consolidate with or merge into any other corporation or convey, transfer or lease its properties and assets substantially as an entirety to any Person, and the Company shall not permit any Person to consolidate with or merge into the
Company or to convey, transfer or lease its properties and assets substantially as an entirety to the Company, unless: 
 (1) in case the Company shall consolidate with or merge into another corporation or convey, transfer or lease its properties and assets substantially as an entirety to any Person, the corporation formed by such consolidation or into which
the Company is merged or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Company substantially as an entirety shall be a corporation organized and existing under the laws of the United States,
any State thereof or the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of (and premium,
if any) and interest, if any, on all the Securities and the performance of every covenant of this Indenture on the part of the Company to be performed or observed; 
 (2) immediately after giving effect to such transaction and treating any indebtedness which becomes an obligation of the
Company or a Subsidiary as a result of such transaction as having been incurred by the Company or the Subsidiary at the time of such transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event
of Default, shall have happened and be continuing; 
 (3) if, as a result of any such consolidation or merger or
such conveyance, transfer or lease, Property of the Company would become subject to a Lien which would not be permitted by Section 1005, the Company or such successor corporation or Person, as the case may be, shall take such steps as shall be
necessary effectively to secure the Securities (together with, if the

  

 47 

 
Company shall so determine, any other indebtedness of the Company then existing or thereafter created) equally and ratably with (or, at the option of the Company, prior to) all indebtedness
secured thereby; and 
 (4) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion
of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions
precedent herein provided for relating to such transaction have been complied with. 
 SECTION 802. Successor Corporation Substituted.

 Upon any consolidation by the Company with or merger by the Company into any other corporation or any conveyance, transfer or
lease of the properties and assets of the Company substantially as an entirety in accordance with Section 801, the successor corporation formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or
lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor corporation had been named as the Company herein, and thereafter, except in
the case of a lease, the predecessor corporation shall be relieved of all obligations and covenants under this Indenture and the Securities, and may be dissolved and liquidated. Such successor corporation thereupon may cause to be signed, and may
issue either in its own name or in the name of the Company, any or all of the Securities issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such successor corporation,
instead of the Company, and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver any Securities which previously shall have been signed and delivered by the officers of
the Company to the Trustee for authentication, and any Securities which such successor corporation thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Securities so issued shall in all respects have the same
legal rank and benefit under this Indenture as the Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Securities had been issued at the date of the execution hereof. 
 In case of any such consolidation, merger, sale or conveyance such changes in phraseology and form (but not in substance) may be made in the
Securities thereafter to be issued as may be appropriate. 
 ARTICLE NINE 
 SUPPLEMENTAL INDENTURES 
 SECTION
901. Supplemental Indentures Without Consent of Holders. 
 Without the consent of any Holder, the Company, when authorized by a
Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
 (1) to evidence the succession of another corporation to the Company and the assumption by any such successor of the
covenants of the Company herein and in the Securities; or 
  

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 (2) to add to the covenants of the Company for the benefit of the Holders of
all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or
power herein conferred upon the Company; provided, however, that in respect of any such additional covenant, such supplemental indenture may provide for a particular period of grace after default in the performance of such covenant (which period may
be shorter or longer than that allowed in the case of other defaults) or may provide for an immediate enforcement upon such default or may limit the remedies available to the Trustee upon such default; or 
 (3) to add any additional Events of Default; or 
 (4) to add to or change or eliminate any of the provisions of this Indenture to such extent as shall be necessary to permit
or facilitate the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons; or 
 (5) to change or eliminate any of the provisions of this Indenture, provided that any such change or elimination shall become effective only when there is no Security Outstanding of any series created
prior to the execution of such supplemental indenture which is entitled to the benefit of such provision; or 
 (6) to secure the Securities pursuant to the requirements of Section 1005 or otherwise; or 
 (7)
to establish the form or terms of Securities of any series as permitted by Sections 201 and 301; or 
 (8)
to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 611(b); or 
  

 49 

 (9) to cure any ambiguity, to correct or supplement any provision herein
which may be inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided such action shall not adversely affect the interests of the Holders of Securities
of any series in any material respect. 
 SECTION 902. Supplemental Indentures with Consent of Holders. 
 With the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of each series (each such
series voting as a separate class) affected by such supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or
indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under
this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby, 
 (1) change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security, or
reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or modify the manner of determination of the rate of interest thereon so as to affect adversely the interests of such Holder or
reduce the amount of the principal of an Original Issue Discount Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or change any Place of Payment where, or the coin or
currency in which, any Security or any premium or the interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the
Redemption Date), or 
 (2) reduce the percentage in principal amount of the Outstanding Securities of any
series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their
consequences) provided for in this Indenture, or 
 (3) modify any of the provisions of this Section,
Section 513 or Section 1007, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby,
provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to the “Trustee” and concomitant changes in this Section and Section 1007, or the deletion of this
proviso, in accordance with the requirements of Sections 611(b) and 901(8). 
  

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 A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which
has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to
affect the rights under this Indenture of the Holders of Securities of any other series. 
 The Trustee shall not enter into any
such supplemental indenture, unless the Trustee has received (a) an Opinion of Counsel, to the effect that the execution of such proposed supplemental indenture is authorized or permitted by the Indenture and (b) unless the requisite
consent was obtained, an Opinion of Counsel or an Officer’s Certificate of the Company as to whether the interests of the Holders would be materially and adversely affected thereby. 
 It shall not be necessary for any Act of Holders under this Section to approve the particular form of any proposed supplemental
indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
 SECTION 903. Execution of Supplemental Indentures.

 In executing or accepting the additional trusts created by any supplemental indenture permitted by this Article or the
modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such
supplemental indenture is authorized or permitted by this Indenture and that such supplemental indenture, when executed and delivered by the Company, will constitute a valid and binding obligation of the Company in accordance with its terms. The
Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 SECTION 904. Effect of Supplemental Indentures. 
 Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all
purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 
 SECTION 905.
Conformity with Trust Indenture Act. 
 Every supplemental indenture executed pursuant to this Article shall conform to the
requirements of the Trust Indenture Act as then in effect. 
 SECTION 906. Reference in Securities to Supplemental Indentures. 
 Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and
shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the

  

 51 

 
opinion of the Trustee and the Board of Directors, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee or any
Authenticating Agent in exchange for Outstanding Securities of such series. 
 ARTICLE TEN 
 COVENANTS 
 SECTION 1001. Payment
of Principal, Premium and Interest. 
 The Company covenants and agrees that it will duly and punctually pay the principal of
(and premium, if any) and interest, if any, on the Securities of each series in accordance with the terms of the Securities of such series and this Indenture. 
 SECTION 1002. Maintenance of Office or Agency. 
 The Company will cause to be
maintained in each Place of Payment for any series of Securities an office or agency where Securities of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or
exchange and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location,
of such office or agency. With respect to the Securities of any series such office or agency and each Place of Payment shall be as specified as contemplated in Section 301. In the absence of any such provisions with respect to the Securities of
any series (i) the Place of Payment for such securities shall be the Borough of Manhattan, City of New York, New York, and (ii) such office or agency in such Place of Payment shall be the Corporate Trust Office of the Trustee therein. If
at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office
of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Company may also from time to time designate one or more other offices or agencies (in or outside the Borough of Manhattan, City of New York, New York) where the Securities of one or more series may
be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office
or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such office or agency.

 SECTION 1003. Money for Securities Payments to Be Held in Trust. 
 If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date
of the principal of (and premium, if any) or interest, if any, on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or
interest, if any, so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 
  

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 Whenever the Company shall have one or more Paying Agents for any series of Securities, it
will, prior to each due date of the principal of (and premium, if any) or interest, if any, on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest, if any, so becoming
due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act.

 The Company will cause each Paying Agent other than the Trustee for any series of Securities to execute and deliver to the
Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 
 (1) hold all sums held by it for the payment of the principal of (and premium, if any) or interest, if any, on Securities of that series in trust for the benefit of the Persons entitled thereto until such
sums shall be paid to such Persons or otherwise disposed of as herein provided; 
 (2) give the Trustee notice of
any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment of principal (and premium, if any) or interest, if any, on the Securities of that series; and 
 (3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the
Trustee all sums so held in trust by such Paying Agent. 
 The Company may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the
same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. Upon the
satisfaction and discharge of the indebtedness in respect of all Outstanding Securities of any series all sums then held by any Paying Agent (other than the Trustee) in respect thereof shall, upon demand of the Company, be repaid to it or paid to
the Trustee, and thereupon such Paying Agent shall be released from all further liability with respect to such money. 
 The
Trustee and any Paying Agent shall promptly pay to the Company upon Company Request any money or securities held by them at any time in excess of amounts necessary to satisfy amounts payable to the Holders, the Trustee and the Paying Agent.

  

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 Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of (and premium, if any) or interest, if any, on any Security of any series and remaining unclaimed for two years after such principal (and premium, if any) or interest, if any, has become due and payable
shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of
such Security shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the
Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment,
may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in each Place of Payment with respect to Securities of such series,
notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will, unless otherwise required by
mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company. 
 SECTION 1004. Corporate
Existence. 
 Subject to Article Eight, the Company will do or cause to be done all things necessary to preserve and keep in
full force and effect its corporate existence. 
 SECTION 1005. Limitation on Liens. 
 After the first date of issuance of the Securities of a series, the Company will not itself, and will not permit any Subsidiary to, create,
incur or suffer to exist, any Lien on any Property of the Company or any Subsidiary securing any Restricted Debt, without effectively providing that the Securities of such series (together with, if the Company shall so determine, any other
indebtedness of the Company or such Subsidiary then existing or thereafter created) shall be secured equally and ratably with (or, at the option of the Company, prior to) such secured Restricted Debt, so long as such secured Restricted Debt shall be
so secured, unless, after giving effect thereto, the aggregate amount of all Restricted Debt of the Company and its Subsidiaries secured by Liens on Property of the Company and its Subsidiaries would not exceed 15% of Consolidated Assets; provided,
however, that this Section 1005 shall not apply to, and there shall be excluded from Restricted Debt secured by Liens in any computation under this Section 1005, Restricted Debt secured only by: 
 (1) Liens on Property of, or on any shares of capital stock of, any corporation existing at the time such corporation becomes
a Subsidiary; 
 (2) Liens in favor of the Company or any Subsidiary or Liens securing any indebtedness of a
Subsidiary to the Company or of the Company or a Subsidiary to a Subsidiary; 
  

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 (3) Liens in favor of any governmental body (or surety for any governmental
body) to secure progress, advance or other payments pursuant to any contract or provision of any statute or rule of court; 
 (4) Liens of other creditors on Property repossessed in the ordinary course of business which comprises collateral security for defaulted indebtedness or additional liens created on any such Property for
the purpose of protecting the interest of the Company therein; 
 (5) A banker’s Lien or other right of
offset in favor of any lender or other holder of Restricted Debt on money deposited with such lender or holder in the ordinary course of business; 
 (6) Liens on Property and rentals therefrom existing at the time of acquisition thereof, or to secure the payment of all or any part of the purchase price thereof or construction thereon or to secure any
Restricted Debt incurred prior to, at the time of, or within 180 days after the later of the acquisition of such Property or the completion of construction for the purpose of financing all or any part of the purchase price thereof or
construction thereon; or 
 (7) Any extension, renewal or replacement (or successive extensions, renewals or
replacements), as a whole or in part, of any Lien referred to in the foregoing clauses (1) through (6), inclusive; provided, however, that such extension, renewal or replacement Lien shall be limited to all or part of the same Property
that secured the Lien extended, renewed or replaced (plus improvements on such Property). 
 For purposes of this
Section 1005, an “acquisition” of Property shall include any transaction or series of transactions by which the Company or a Subsidiary acquires, directly or indirectly, an interest, or an additional interest (to the extent thereof),
in such Property, including without limitation an acquisition through merger or consolidation with, or an acquisition of an interest in, a Person owning an interest in such Property. 
 SECTION 1006. Statement as to Compliance. 
 The Company will deliver to the
Trustee, within 120 days after the end of each fiscal year of the Company ending after the date hereof, an Officers’ Certificate (which need not comply with Section 102), stating as to each signer thereof that 
 (1) a review of the activities of the Company during such year and of performance under this Indenture has been made under
his supervision, and 
 (2) as of the end of such year and at the date of the Officers’ Certificate to the
best of his knowledge, based on such review, (a) the Company is not in default in the fulfillment of any of its obligations under this Indenture, or specifying each such default known to him and the nature and status thereof and (b) no
event has occurred and is continuing which is or after notice or lapse

  

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of time or both would become an Event of Default, or, if such an event has occurred and is continuing, specifying each such event known to him and the nature and status thereof. 
 SECTION 1007. Waiver of Certain Covenants. 
 The Company may omit in any particular instance to comply with any covenant or condition set forth in Sections 1002 to 1006, inclusive, with respect to the Securities of any series if before the time
for such compliance the Holders of at least a majority in principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such covenant or
condition, but no such waiver shall extend to or affect such covenant or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee with respect to
any such covenant or condition shall remain in full force and effect. 
 ARTICLE ELEVEN 
 REDEMPTION OF SECURITIES 
 SECTION
1101. Applicability of Article. 
 Securities of any series which are redeemable before their Stated Maturity shall be
redeemable in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article. 
 SECTION 1102. Election to Redeem; Notice to Trustee. 
 The election of the Company
to redeem any Securities shall be evidenced by a Board Resolution. In case of any redemption at the election of the Company of less than all the Securities of any series, the Company shall, at least 60 days prior to the Redemption Date fixed by
the Company (unless a shorter notice, but not less than 30 days, shall be satisfactory to the Trustee), notify the Trustee in writing of such Redemption Date and of the principal amount of Securities of such series to be redeemed. In the case
of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate
evidencing compliance with such restriction. 
  

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 SECTION 1103. Selection by Trustee of Securities to be Redeemed. 
 If less than all the Securities of any series are to be redeemed, the particular Securities to be redeemed shall be selected by the Trustee
not more than 60 days prior to the Redemption Date, from the Outstanding Securities of such series not previously called for redemption, by lot, pro rata or by such other method as the Trustee shall be deem fair and appropriate and which may
provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral multiple thereof) of the principal amount of Securities of such series of a denomination larger than the
minimum authorized denomination for Securities of that series. In any case where Securities of such series are registered in the same name, the Trustee in its discretion may treat the aggregate principal amount so registered as if it were
represented by one Security of such series. If the Securities of any series to be redeemed consist of Securities having different Stated Maturities or different rates of interest (or methods of computing interest), then the Company may, by written
notice to the Trustee, direct that the Securities of such series to be redeemed shall be selected from among groups of such Securities having specified Stated Maturities or rates of interest (or methods of computing interest) and the Trustee shall
thereafter select the particular Securities to be redeemed in the manner set forth above from among the groups of such Securities so specified. 
 The Trustee shall promptly notify the Company in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be
redeemed. 
 For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the
redemption of Securities shall relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Security which has been or is to be redeemed. 
 SECTION 1104. Notice of Redemption. 
 Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed, at his address appearing in the Security
Register. 
 All notices of redemption shall state: 
 (1) the Redemption Date, 
 (2) the Redemption Price, 
 (3) if less than all the Outstanding
Securities of any series are to be redeemed, the identification (and, in the case of partial redemption, the principal amounts) of the particular Securities to be redeemed, 
 (4) that on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and,
if applicable, that interest thereon will cease to accrue on and after said date, 
  

 57 

 (5) the place or places where such Securities are to be surrendered for
payment of the Redemption Price, and 
 (6) that the redemption is for a sinking fund, if such is the case.

 Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the
Company’s request, by the Trustee in the name and at the expense of the Company. 
 SECTION 1105. Deposit of Redemption Price. 

Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own
Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest, if any, on, all the
Securities which are to be redeemed on that date. 
 SECTION 1106. Securities Payable on Redemption Date. 
 Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable
at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest, if any) such Securities shall cease to bear interest. Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with accrued interest, if any, to the Redemption Date; provided, however, that installments of interest whose Stated
Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Record Dates according to their terms and the
provisions of Section 307. 
 If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate or rates prescribed therefor in the Security. 
 SECTION 1107. Securities Redeemed in Part. 
 Any Security which is to be redeemed
only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the
Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee or an Authenticating Agent shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities
of the same series of like tenor and of any authorized denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 
  

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 ARTICLE TWELVE 
 SINKING FUNDS 
 SECTION 1201. Applicability of Article. 
 To the extent that the provisions of this Article shall be applicable to the Securities of a series as specified pursuant to
Section 301, the provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of such series except as otherwise specified as contemplated by Section 301 for Securities of such series. 
 The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a
“mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment.” If provided for by the terms of
Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms
of Securities of such series. 
 SECTION 1202. Satisfaction of Sinking Fund Payments with Securities. 
 The Company (1) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (2) may apply
as a credit Securities of a series which have been redeemed (or called for redemption and for which the Redemption Price, together with accrued interest, if any, has been deposited pursuant to Section 1105), either at the election of the
Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any mandatory sinking fund payment
with respect to the Securities of such series as provided for by the terms of such series; provided that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the
Redemption Price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 
 SECTION 1203. Redemption of Securities for Sinking Fund. 
 Not less than
60 days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that series
pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities of that series pursuant to
Section 1202 and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and will also deliver to the Trustee any Securities to be so delivered. If such Officers’ Certificate shall specify an
optional amount to be added in cash to the next ensuing mandatory sinking fund payment, the Company shall thereupon be obligated to pay the amount therein specified. Not less than 30 days before each such sinking fund payment date the Trustee
shall select the Securities to be redeemed upon such sinking fund payment date in the manner

  

 59 

 
specified in Section 1103 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 1104. The Company
shall deposit the amount of cash, if any, required for such sinking fund payment in the manner provided in Section 1105. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated
in Sections 1106 and 1107. 
 * * * 
  

 60 

 This instrument may be executed in any number of counterparts, each of which so executed
shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
 IN
WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, and their respective corporate seals to be hereunto affixed and attested, all as of the day and year first above written. 
  

									
		 		 		 	PACCAR FINANCIAL CORP.
					
		 		 		 	By:	 	  

		 		 		 		 	Name:
		 		 		 		 	Title:
					
		 		 		 	By:	 	  

		 		 		 		 	Name:
		 		 		 		 	Title:
				
	Attest:	 		 		 	
					
	By:	 	  
	 		 		 	
		 	Name:	 		 		 	
		 	Title: Assistant Secretary	 		 	 THE BANK OF NEW YORK MELLON
 TRUST COMPANY, N.A.,

					
		 		 		 	By:	 	  

		 		 		 		 	Name:
		 		 		 		 	Title:

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