Document:

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	 	statement pursuant to Securities and Exchange Commission Rule 83	 

 

 

Exhibit 4.5

 

		Clifford
                                         Chance LLP

 

EXECUTION VERSION

 

DATED 7 OCTOBER 2018

 

US$ 1,000,000,000

 

FACILITY AGREEMENT

 

FOR

 

MILLICOM INTERNATIONAL
CELLULAR S.A.

 

ARRANGED BY

 

BNP Paribas Fortis
SA/NV

 

Goldman Sachs Bank
USA

 

J.P. Morgan Securities
plc

 

The Bank of Nova
Scotia

 

WITH

 

The Bank of Nova
Scotia

 

ACTING AS AGENT

 

 

 

bridge TERM FACILITY
AGREEMENT

 

 

 

    	 

    
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Contents

 

	Clause	 	Page
	 	 	 	 
	1.	Definitions and Interpretation	 	1
	 	 	 	 
	2.	The Facility	 	32
	 	 	 	 
	3.	Purpose	 	34
	 	 	 	 
	4.	Conditions of Utilisation	 	35
	 	 	 	 
	5.	Utilisation - Loans	 	37
	 	 	 	 
	6.	Repayment	 	39
	 	 	 	 
	7.	Prepayment and Cancellation	 	40
	 	 	 	 
	8.	Interest	 	47
	 	 	 	 
	9.	Interest Periods	 	48
	 	 	 	 
	10.	Changes to the Calculation of Interest	 	49
	 	 	 	 
	11.	Fees	 	50
	 	 	 	 
	12.	Tax Gross Up and Indemnities	 	51
	 	 	 	 
	13.	Increased Costs	 	56
	 	 	 	 
	14.	Other Indemnities	 	58
	 	 	 	 
	15.	Mitigation by the Lenders	 	60
	 	 	 	 
	16.	Costs and Expenses	 	60
	 	 	 	 
	17.	Guarantee and Indemnity	 	62
	 	 	 	 
	18.	Representations	 	65
	 	 	 	 
	19.	Information Undertakings	 	70
	 	 	 	 
	20.	Financial Covenants	 	75
	 	 	 	 
	21.	General Undertakings	 	82
	 	 	 	 
	22.	Events of Default	 	87
	 	 	 	 
	23.	Changes to the Lenders	 	92
	 	 	 	 
	24.	Changes to the Obligors	 	97
	 	 	 	 
	25.	Role of the Agent and the Arranger	 	99
	 	 	 	 
	26.	Conduct of Business by the Finance Parties	 	105
	 	 	 	 
	27.	Sharing among the Finance Parties	 	106
	 	 	 	 
	28.	Payment Mechanics	 	108
	 	 	 	 
	29.	Set-off	 	112
	 	 	 	 
	30.	Notices	 	112
	 	 	 	 
	31.	Calculations and Certificates	 	114
	 	 	 	 
	32.	Partial Invalidity	 	114
	 	 	 	 
	33.	Remedies and Waivers	 	115
	 	 	 	 
	34.	Amendments and Waivers	 	115
	 	 	 	 

    	 

    
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	35.	Confidentiality	 	120
	 	 	 	 
	36.	Confidentiality of Reference Bank Rates	 	124
	 	 	 	 
	37.	Counterparts	 	125
	 	 	 	 
	38.	Governing Law	 	126
	 	 	 	 
	39.	Enforcement	 	126
	 	 	 	 
	Schedule 1 The Original Parties	 	127
	 	 	 
	Part I The Original Obligors	 	127
	 	 	 
	Part II The Original Lenders	 	128
	 	 	 
	Schedule 2 Conditions Precedent	 	129
	 	 	 
	Part I Conditions Precedent to Initial Utilisation	 	129
	 	 	 
	Part II Conditions Precedent required to be delivered by an Additional Borrower	 	131
	 	 	 
	Schedule 3 Requests	 	132
	 	 	 
	Part I Utilisation Request	 	132
	 	 	 
	Part II Selection Notice	 	133
	 	 	 
	Schedule 4 Form of Transfer Certificate	 	134
	 	 	 
	Schedule 5 Form of Assignment Agreement	 	136
	 	 	 
	Schedule 6 Form of Accession Letter	 	139
	 	 	 
	Schedule 7 Form of Resignation Letter	 	140
	 	 	 
	Schedule 8 Form of Compliance Certificate	 	141
	 	 	 
	Schedule 9 LMA Form of Confidentiality Undertaking	 	142
	 	 	 
	Schedule 10 Timetables	 	148
	 	 	 
	Schedule 11 Form of Increase Confirmation	 	149
	 	 	 
	Schedule 12 Form of Substitute Affiliate Lender Designation Notice	 	151

 

    	 

    
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THIS AGREEMENT is dated 7 October
2018 and made

 

BETWEEN:

 

		(1)	MILLICOM INTERNATIONAL CELLULAR S.A., a company (société anonyme) incorporated
under the laws of Luxembourg, having its registered office at 2, rue du Fort Bourbon, L-1249 Luxembourg and registered with the
Luxembourg Register of Commerce and Companies under number B. 40.630 (the "Company");

 

		(2)	THE COMPANIES listed in Part I of Schedule 1 (The Original Parties) as original borrowers
(the "Original Borrowers");

 

		(3)	THE COMPANY listed in Part I of Schedule 1 (The Original Parties) as guarantor (the
 "Guarantor");

 

		(4)	BNP Paribas
Fortis SA/NV, Goldman Sachs Bank USA, J.P. Morgan Securities plc and The Bank of Nova Scotia as coordinators and bookrunning
mandated lead arrangers (whether acting individually or together the "Arranger");

 

		(5)	THE FINANCIAL INSTITUTIONS listed in Part II of Schedule 1 (The Original Parties)
as lenders (the "Original Lenders"); and

 

		(6)	THE BANK OF NOVA SCOTIA as agent of the other Finance Parties (the "Agent").

 

IT IS AGREED as follows:

 

SECTION 1

INTERPRETATION

 

		1.	Definitions and Interpretation

 

		1.1	Definitions

 

In this Agreement:

 

"Acceptable
Bank" means a bank or financial institution which has a rating for its long-term unsecured and non credit-enhanced debt
obligations of A- or higher by Standard & Poor's Rating Services or Fitch Ratings Ltd or A3 or higher by Moody's Investor Services
Limited or a comparable rating from an internationally recognised credit rating agency.

 

"Accession
Letter" means a document substantially in the form set out in Schedule 5 (Form of Accession Letter).

 

"Acquired
Debt" has the meaning given to the term in Clause 20.1 (Financial Definitions).

 

"Acquisition"
means the acquisition by the Purchaser of the Target Shares on the terms of the Acquisition Documents.

 

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"Acquisition
Agreement" means the Stock Purchase Agreement, dated on or about the date of this Agreement, among Medios de Comunicación
(BVI) LTD. and Telecarrier International Ltd. (together, the "Sellers") and Millicom LIH S.A., as purchaser (the
 "Purchaser"), relating to the sale and purchase of the Target Shares.

 

"Acquisition
Costs" means all fees, costs and expenses, stamp, registration and other Taxes incurred by the Company or any other member
of the Group in connection with the Acquisition or the Acquisition Documents.

 

"Acquisition
Closing Date" means the date on which the initial cash consideration is due to Target shareholders pursuant to the Acquisition
Agreement.

 

"Acquisition
Documents" means the Acquisition Agreement and any other document designated as an "Acquisition Document"
by the Agent and the Company.

 

"Additional
Borrower" means a company which becomes an Additional Borrower in accordance with Clause 24 (Changes to the Obligors).

 

"Affiliate"
means, in relation to any person, a Subsidiary of that person or a Holding Company of that person or any other Subsidiary of that
Holding Company.

 

"Annual
Report" means the Millicom Annual Report 2017.

 

"Assignment
Agreement" means an agreement substantially in the form set out in Schedule 5 (Form of Assignment Agreement) or
any other form agreed between the relevant assignor and assignee.

 

"Authorisation"
means an authorisation, consent, approval, resolution, licence, exemption, filing, notarisation or registration.

 

"Availability
Period" means the period from and including the date of this Agreement to and including the date falling six Months after
the date of this Agreement.

 

"Available
Commitment" means, in relation to the Facility, a Lender's Commitment minus (subject as set out below):

 

		(a)	the amount of its participation in any outstanding Loans under the Facility; and

 

		(b)	in relation to any proposed Utilisation, the amount of its participation in any other Loans that
are due to be made under the Facility on or before the proposed Utilisation Date.

 

"Available
Facility" means, in relation to the Facility, the aggregate for the time being of each Lender's Available Commitment.

 

"Borrower"
means an Original Borrower or an Additional Borrower unless it has ceased to be a Borrower in accordance with Clause 24 (Changes
to the Obligors).

 

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"Break
Costs" means the amount (if any) by which:

 

		(a)	the interest which a Lender should have received for the period from the date of receipt of all
or any part of its participation in a Loan or Unpaid Sum to the last day of the current Interest Period in respect of that Loan
or Unpaid Sum, had the principal amount or Unpaid Sum received been paid on the last day of that Interest Period;

 

exceeds:

 

		(b)	the amount which that Lender would be able to obtain by placing an amount equal to the principal
amount or Unpaid Sum received by it on deposit with a leading bank in the Relevant Interbank Market for a period starting on the
Business Day following receipt or recovery and ending on the last day of the current Interest Period.

 

"Business
Day" means a day (other than a Saturday or Sunday) on which banks are open for general business in London, New York, Stockholm
and Luxembourg.

 

"Capital
Lease Obligation" means the obligation to pay rent or other payment amounts under a lease of real or personal property
of such person which is required to be classified and accounted for as a capital lease on the face of a statement of financial
position of such person in accordance with IFRS. The stated maturity of such obligation shall be the date of the last payment of
rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without
payment of a penalty. The principal amount of Debt represented by such obligation shall be the capitalised amount thereof that
would appear on the face of a statement of financial position of such person in accordance with IFRS.

 

"Capital
Stock" of any person means any and all shares, interests, participation or other equivalents (however designated) of corporate
stock or other equity participation, including partnership interests, whether general or limited, of such person.

 

"Cash Equivalents"
has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Certain
Funds Period" means the period from and including the date of this Agreement (inclusive) to and including the date falling
45 days after the Acquisition Closing Date.

 

"Certain
Funds Utilisation" means a Loan made or to be made during the Certain Funds Period.

 

"Change
of Control" means:

 

		(a)	any person or group of persons acting in concert (other than Kinnevik AB or its Related Parties)
gains direct or indirect control of the Company. For the purposes of this definition:

 

		(i)	"control" of the Company means the power (whether by way of ownership of shares,
proxy, contract, agency or otherwise) to cast, or control the casting of, more than 50 per cent. of the maximum number of votes
that might be cast at a general meeting of the Company; and

 

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		(ii)	"acting in concert" means, a group of persons who, pursuant to an agreement or
understanding (whether formal or informal), actively cooperate, through the acquisition directly or indirectly of shares in the
Company by any of them, either directly or indirectly, to obtain or consolidate control of the Company.

 

		(b)	the direct or indirect sale, leasing, transfer, conveyance or other disposition (other than by
way of a Merger) of all or substantially all of the properties or assets of the Group, whether in a single transaction or a series
of related transactions; or

 

		(c)	the adoption of a plan relating to the liquidation, winding-up or dissolution of the Company.

 

"Clean-Up
Default" means an Event of Default in respect of any member of the Target Group.

 

"Clean-Up
Undertaking" means any of the undertakings of any member of the Target Group under Clause 21 (General Undertakings)
(other than Clauses 21.13 (Anti-corruption law or 21.14 (Sanctions)).

 

"Code"
means the US Internal Revenue Code of 1986.

 

"Commitment"
means:

 

		(a)	in relation to an Original Lender, the amount set opposite its name under the heading "Commitment"
in Part II of Schedule 1 (The Original Parties) and the amount of any other Commitment transferred to it under this Agreement
or assumed by it in accordance with Clause 2.2 (Increase); and

 

		(b)	in relation to any other Lender, the amount of any Commitment transferred to it under this Agreement
or assumed by it in accordance with Clause 2.2 (Increase),

 

to the extent not
cancelled, reduced or transferred by it under this Agreement.

 

"Compliance
Certificate" means a certificate substantially in the form set out in Schedule 8 (Form of Compliance Certificate).

 

"Confidential
Information" means all information relating to the Company, any Obligor, the Group, the Target, the Target Group, the
Finance Documents or the Facility of which a Finance Party becomes aware in its capacity as, or for the purpose of becoming, a
Finance Party or which is received by a Finance Party in relation to, or for the purpose of becoming a Finance Party under, the
Finance Documents or the Facility from either:

 

		(a)	any member of the Group or any of its advisers; or

 

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		(b)	another Finance Party, if the information was obtained by that Finance Party directly or indirectly
from any member of the Group or any of its advisers,

 

in whatever form, and includes information
given orally and any document, electronic file or any other way of representing or recording information which contains or is derived
or copied from such information but excludes information that:

 

		(i)	is or becomes public information other than as a direct or indirect result of any breach by that
Finance Party of Clause 35 (Confidentiality); or

 

		(ii)	is identified in writing at the time of delivery as non-confidential by any member of the Group
or any of its advisers; or

 

		(iii)	is known by that Finance Party before the date the information is disclosed to it in accordance
with paragraphs (a) or (b) above or is lawfully obtained by that Finance Party after that date, from a source which is, as
far as that Finance Party is aware, unconnected with the Group and which, in either case, as far as that Finance Party is aware,
has not been obtained in breach of, and is not otherwise subject to, any obligation of confidentiality; or

 

		(iv)	is a Reference Bank Quotation.

 

"Confidentiality
Undertaking" means a confidentiality undertaking substantially in a recommended form of the LMA as set out in Schedule
9 (LMA Form of Confidentiality Undertaking) or in any other form agreed between the Company and the Agent.

 

"Consolidated
EBITDA" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Consolidated
Interest Expense" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Consolidated
Net Debt" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Cross
Acceleration" means any Debt of the Company or any of its Subsidiaries is cancelled, or declared to be or otherwise becomes
due and payable prior to its specified maturity as a result of an event of default (however described).

 

"Cross
Payment Default" means any event of default (howsoever described) arising from a failure by the Company or any of its
Subsidiaries to pay any Debt when due or within any originally applicable grace period.

 

"CTA"
means the Corporation Tax Act 2009.

 

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"Debt"
means (without duplication), with respect to any person, whether recourse is to all or a portion of the assets of such person and
whether or not contingent:

 

		(a)	the principal of and premium, if any, in respect of every obligation of such person for money borrowed;

 

		(b)	the principal of and premium, if any, in respect of every obligation of such person evidenced by
bonds, debentures, notes or other similar instruments, including obligations incurred in connection with the acquisition of property,
assets or businesses;

 

		(c)	every reimbursement obligation of such person with respect to letters of credit, bankers' acceptances
or similar facilities issued for the account of such person (but only to the extent such obligations are not reimbursed within
30 days following receipt by such person of a demand for reimbursement);

 

		(d)	every obligation of such person issued or assumed as the deferred purchase price of property or
services (including securities repurchase agreements but excluding trade accounts payable or accrued liabilities arising in the
ordinary course of business and excluding purchase price holdbacks in respect of a portion of the purchase price of an asset to
satisfy warranty or other unperformed obligations of the applicable seller and, in connection with the purchase by any member of
the Group of any business, any post-closing payment adjustments to which the seller may become entitled to the extent such payment
is determined by a final closing statement of financial position or such payment depends on the performance of such business after
the closing) where the deferred payment is arranged primarily as a means of raising finance, which purchase price is due more than
one year after the date of placing such property in service or taking final delivery and title thereto;

 

		(e)	every Capital Lease Obligation of such person;

 

		(f)	all Redeemable Stock issued by such person;

 

		(g)	the net obligation of such person under Interest Rate, Currency or Commodity Price Agreements of
such person; and

 

		(h)	every obligation of the type referred to in paragraphs (a)
through (g) of another person and all dividends of another person the payment of which, in either case, such person has guaranteed
or is responsible or liable for, directly or indirectly, as obligor, guarantor or otherwise.

 

The "amount" or
 "principal amount" of Debt at any time of determination as used herein represented by (A) any Debt issued at a
price that is less than the principal amount at maturity thereof, shall be the amount of the liability in respect thereof determined
in accordance with IFRS, (B) any Redeemable Stock, shall be the maximum fixed redemption or repurchase price in respect thereof
and (C) any Debt that has been cash-collateralised, to the extent so cash collateralised, shall be excluded from any calculation
of Debt. Notwithstanding anything else to the contrary, for all purposes under this Agreement, the amount of Debt incurred, repaid,
redeemed, repurchased or otherwise acquired by a member of the Group shall equal the liability in respect thereof determined in
accordance with IFRS and reflected on the Company's consolidated statement of financial position.

 

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The term "Debt"
shall not include:

 

		(i)	obligations described in paragraphs (a), (b) or (h) of the first paragraph of this definition
of Debt that are incurred by a member of the Group (the "Proceeds Recipient") and owed to a bank or other lending
institution (the "On-Lend Bank") to facilitate the substantially concurrent on-lending of proceeds (the "Proceeds
On-Loan") from Debt incurred by the Company or any member of the Group (other than the Proceeds Recipient) as permitted
by paragraph (a) (Net Leverage Ratio) of Clause 20.2 (Financial condition) (the "Initial Debt")
to the extent (A) the principal obligations in respect of the Proceeds On-Loan are secured by security over cash granted in favour
of the On-Lend Bank or any of its Affiliates in an amount not less than the principal amount of the Proceeds On-Loan, (B) the Proceeds
On-Loan is put in place substantially concurrently with a loan by any member of the Group (other than the Proceeds Recipient) to
the On-Lend Bank (the "On-Lend Bank Borrowing") pursuant to which the Proceeds Recipient is entitled to reduce
the principal amount of the Proceeds On-Loan by an amount equal to the principal amount of the On-Lend Bank Borrowing if a default
or acceleration occurs with respect to such On-Lend Bank Borrowing, or (C) the substantial risks and rewards of the Proceeds On-Loan
are transferred, using a synthetic instrument or any other arrangement or agreement, from the On-Lend Bank to any member of the
Group (other than the Proceeds Recipient) in exchange for an amount not less than (x) the amount of cash granted in favour of the
On-Lend Bank or any of its Affiliates, or (y) the outstanding amount of the On-Lend Bank Borrowing, as applicable, in each case
as at the effective date of such transfer;

 

		(ii)	any liability of the Company or any member of the Group (other than the Proceeds Recipient) attributable
to a synthetic instrument or any other arrangement or agreement described in paragraph (i)(C) above to the extent such obligation
under the relevant instrument, arrangement or agreement has not come due but is classified as a financial liability in accordance
with IFRS and recorded as a current liability on the Company's consolidated statement of financial position;

 

		(iii)	any Restricted MFS Cash;

 

		(iv)	any liability of the Company attributable to a put option or similar instrument, arrangement or
agreement entered into after the date of this Agreement granted by the Company relating to an interest in any other entity, in
each case to the extent such option has not been exercised or such obligation under the relevant instrument, arrangement or agreement
has not come due but is classified as a financial liability in accordance with IFRS, and recorded as a current liability on the
Company's consolidated statement of financial position;

 

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		(v)	any standby letter of credit, performance bond or surety bond provided by a member of the Group
that is customary in the Permitted Business to the extent such letters of credit or bonds are not drawn upon or, if and to the
extent drawn upon, are honored in accordance with their terms; and

 

		(vi)	any intercompany debt or other liability from the Company to Subsidiaries or from Subsidiaries
to the Company.

 

"Default"
means an Event of Default or any event or circumstance specified in Clause 22 (Events of Default) which would (with
the expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination
of any of the foregoing) be an Event of Default.

 

"Defaulting
Lender" means any Lender:

 

		(a)	which has failed to make its participation in a Loan available (or has notified the Agent or the
Company (which has notified the Agent) that it will not make its participation in a Loan available) by the Utilisation Date of
that Loan in accordance with Clause 5.4 (Lenders' participation);

 

		(b)	which has otherwise rescinded or repudiated a Finance Document;

 

		(c)	with respect to which an Insolvency Event has occurred and is continuing; or

 

		(d)	an Affiliate of which is a Defaulting Lender,

 

unless, in the case of paragraph (a)
above:

 

		(i)	its failure to pay is caused by:

 

		(A)	administrative or technical error; or

 

		(B)	a Disruption Event, and

 

payment is made
within 5 Business Days of its due date; or

 

		(ii)	the Lender is disputing in good faith whether it is contractually obliged to make the payment in
question.

 

"Disclosed
Investigation" means any investigation by the International Commission against Impunity in Guatemala ("CICIG"),
or by any governmental, regulatory or law enforcement entities, of certain payments that were or may have been made by or on behalf
of the Company's joint venture in Guatemala and the investigation into alleged illegal campaign financing announced by CICIG on
July 14, 2017, and any facts and circumstances relating thereto

 

"Disruption
Event" means either or both of:

 

		(a)	a material disruption to those payment or communications systems or to those financial markets
which are, in each case, required to operate in order for payments to be made in connection with the Facility (or otherwise in
order for the transactions contemplated by the Finance Documents to be carried out) which disruption is not caused by, and is beyond
the control of, any of the Parties; or

 

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		(b)	the occurrence of any other event which results in a disruption (of a technical or systems-related
nature) to the treasury or payments operations of a Party preventing that, or any other Party:

 

		(i)	from performing its payment obligations under the Finance Documents; or

 

		(ii)	from communicating with other Parties in accordance with the terms of the Finance Documents,

 

and which (in either such case) is
not caused by, and is beyond the control of, the Party whose operations are disrupted.

 

"Engagement
Letter" means the letter dated on or about the date of this Agreement between the Arranger (or their Affiliates), the
Company and others.

 

"Environmental
Claim" means any claim, proceeding or investigation by any person in respect of any Environmental Law.

 

"Environmental
Law" means any applicable law in any jurisdiction in which any member of the Group conducts business which relates to
the pollution or protection of the environment or harm to or the protection of human health or the health of animals or plants.

 

"Environmental
Permits" means any permit, licence, consent, approval and other authorisation and the filing of any notification, report
or assessment required under any Environmental Law for the operation of the business of any member of the Group conducted on or
from the properties owned or used by the relevant member of the Group.

 

"Event
of Default" means any event or circumstance specified as such in Clause 22 (Events of Default).

 

"Extension
Fee" has the meaning given to that term in Clause 11.5 (Extension fee).

 

"Facility"
means the term loan facility made available under this Agreement as described in Clause 2 (The Facility).

 

"Facility
Office" means the office or offices notified by a Lender to the Agent in writing on or before the date it becomes a Lender
(or, following that date, by not less than five Business Days' written notice) as the office or offices through which it will perform
its obligations under this Agreement.

 

"Fair Market
Value" means, with respect to any asset or property, the sale value that would be obtained in an arm's length free market
transaction between an informed and willing seller under no compulsion to sell and an informed and willing buyer under no compulsion
to buy, as determined in good faith by the Company's Chief Executive Officer, Chief Financial Officer or responsible accounting
or financial officer.

 

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"FATCA"
means:

 

		(a)	sections 1471 to 1474 of the Code or any associated regulations or other official guidance;

 

		(b)	any treaty, law, regulation or other official guidance enacted in any other jurisdiction, or relating
to an intergovernmental agreement between the US and any other jurisdiction, which (in either case) facilitates the implementation
of paragraph (a) above; or

 

		(c)	any agreement pursuant to the implementation of paragraphs (a) or (b) above with the US Internal
Revenue Service, the US government or any governmental or taxation authority in any other jurisdiction.

 

"FATCA
Application Date" means:

 

		(a)	in relation to a "withholdable payment" described in section 1473(1)(A)(i) of the Code
(which relates to payments of interest and certain other payments from sources within the US), 1 July 2014;

 

		(b)	in relation to a "withholdable payment" described in section 1473(1)(A)(ii) of the Code
(which relates to "gross proceeds" from the disposition of property of a type that can produce interest from sources
within the US), 1 January 2019; or

 

		(c)	in relation to a "passthru payment" described in section 1471(d)(7) of the Code not falling
within paragraphs (a) or (b) above, 1 January 2019,

 

or, in each case, such other date
from which such payment may become subject to a deduction or withholding required by FATCA as a result of any change in FATCA after
the date of this Agreement.

 

"FATCA
Deduction" means a deduction or withholding from a payment under a Finance Document required by FATCA.

 

"FATCA
Exempt Party" means a Party that is entitled to receive payments free from any FATCA Deduction.

 

"Fee Letter"
means any letter or letters dated on or about the date of this Agreement between the Arrangers and the Company (or the Agent and
the Company) setting out any of the fees referred to in Clause 11 (Fees).

 

"Finance
Document" means this Agreement, any Fee Letter, any Accession Letter, any Resignation Letter and any other document designated
as a "Finance Document" by the Agent and the Company.

 

"Finance
Party" means the Agent, the Arrangers or a Lender.

 

"Financial
Quarter" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0719
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

"Financial
Year" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Government
Securities" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Group"
means the Company and its Subsidiaries (including, from the Acquisition Closing Date, the Target and each of its Subsidiaries)
for the time being.

 

"Holding
Company" means, in relation to a person, any other person in respect of which it is a Subsidiary.

 

"IFRS"
means international accounting standards within the meaning of the IAS Regulation 1606/2002 to the extent applicable to the relevant
financial statements.

 

"Impaired
Agent" means the Agent at any time when:

 

		(a)	it has failed to make (or has notified a Party that it will not make) a payment required to be
made by it under the Finance Documents by the due date for payment;

 

		(b)	the Agent otherwise rescinds or repudiates a Finance Document;

 

		(c)	(if the Agent is also a Lender) it is a Defaulting Lender under paragraph (a) or (b) of the
definition of "Defaulting Lender"; or

 

		(d)	an Insolvency Event has occurred and is continuing with respect to the Agent;

 

unless, in the case of paragraph (a)
above:

 

		(i)	its failure to pay is caused by:

 

		(A)	administrative or technical error; or

 

		(B)	a Disruption Event; and

 

payment is made within five Business
Days of its due date; or

 

		(ii)	the Agent is disputing in good faith whether it is contractually
obliged to make the payment in question.

 

"Increase
Confirmation" means a confirmation substantially in the form set out in Schedule 11 (Form of Increase Confirmation).

 

"Increase
Lender" has the meaning given to that term in Clause 2.2 (Increase).

 

"Insolvency
Event" in relation to a Finance Party means that the Finance Party:

 

		(a)	is dissolved (other than pursuant to a consolidation, amalgamation or merger);

 

		(b)	becomes insolvent or is unable to pay its debts or fails or admits in writing its inability generally
to pay its debts as they become due;

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0720
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		(c)	makes a general assignment, arrangement or composition with or for the benefit of its creditors;

 

		(d)	institutes or has instituted against it, by a regulator, supervisor or any similar official with
primary insolvency, rehabilitative or regulatory jurisdiction over it in the jurisdiction of its incorporation or organisation
or the jurisdiction of its head or home office, a proceeding seeking a judgment of insolvency or bankruptcy or any other relief
under any bankruptcy or insolvency law or other similar law affecting creditors' rights, or a petition is presented for its winding-up
or liquidation by it or such regulator, supervisor or similar official;

 

		(e)	has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other
relief under any bankruptcy or insolvency law or other similar law affecting creditors' rights, or a petition is presented for
its winding-up or liquidation, and, in the case of any such proceeding or petition instituted or presented against it, such proceeding
or petition is instituted or presented by a person or entity not described in paragraph (d) above and:

 

		(i)	results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making
of an order for its winding-up or liquidation; or

 

		(ii)	is not dismissed, discharged, stayed or restrained in each case within 30 days of the institution
or presentation thereof;

 

		(f)	has a resolution passed for its winding-up, official management or liquidation (other than pursuant
to a consolidation, amalgamation or merger);

 

		(g)	seeks or becomes subject to the appointment of an administrator, provisional liquidator, conservator,
receiver, trustee, custodian or other similar official for it or for all or substantially all its assets;

 

		(h)	has a secured party take possession of all or substantially all its assets or has a distress, execution,
attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and
such secured party maintains possession, or any such process is not dismissed, discharged, stayed or restrained, in each case within
30 days thereafter;

 

		(i)	causes or is subject to any event with respect to it which, under the applicable laws of any jurisdiction,
has an analogous effect to any of the events specified in paragraphs (a) to (h) above; or

 

		(j)	takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence
in, any of the foregoing acts.

 

"Intellectual
Property" means:

 

		(a)	any patents, trade marks, service marks, designs, business names, copyrights, database rights,
design rights, domain names, moral rights, inventions, confidential information, knowhow and other intellectual property rights
and interests (which may on or after the date of this Agreement subsist), whether registered or unregistered; and

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0721
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		(b)	the benefit of all applications and rights to use such assets of each member of the Group (which
may on or after the date of this Agreement subsist).

 

"Interest
Cover" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Interest
Period" means, in relation to a Loan, each period determined in accordance with Clause 9 (Interest Periods) and,
in relation to an Unpaid Sum, each period determined in accordance with Clause 8.3 (Default interest).

 

"Interest
Rate, Currency or Commodity Price Agreement" of any person means any forward contract, futures contract, swap, option
or other financial agreement or arrangement (including, without limitation, caps, floors, collars and similar agreements) relating
to, or the value of which is dependent upon, interest rates, currency exchange rates or commodity prices or indices (excluding
contracts for the purchase or sale of goods in the ordinary course of business).

 

"Interpolated
Screen Rate" means, in relation to LIBOR for any Loan, the rate (rounded to the same number of decimal places as the two
relevant Screen Rates) which results from interpolating on a linear basis between:

 

		(a)	the applicable Screen Rate for the longest period (for which that Screen Rate is available) which
is less than the Interest Period of that Loan; and

 

		(b)	the applicable Screen Rate for the shortest period (for which that Screen Rate is available) which
exceeds the Interest Period of that Loan,

 

each as of the Specified Time on
the Quotation Day for the currency of that Loan.

 

"Investment"
has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"ITA"
means the Income Tax Act 2007.

 

"Joint
Venture" means any joint venture entity, whether a company, unincorporated firm, undertaking, association, joint venture
or partnership or any other entity.

 

"Joint
Venture Consolidated EBITDA" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Lender"
means:

 

		(a)	any Original Lender; and

 

		(b)	any bank, financial institution, trust, fund or other entity which has become a Party as a Lender
in accordance with Clause 2.2. (Increase) or Clause 23 (Changes to the Lenders),

 

which in each case has not ceased
to be a Lender in accordance with the terms of this Agreement.

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0722
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

"LIBOR"
means, in relation to any Loan:

 

		(a)	the applicable Screen Rate;

 

		(b)	(if no Screen Rate is available for the Interest Period of that Loan) the Interpolated Screen Rate
for that Loan; or

 

		(c)	if:

 

		(i)	no Screen Rate is available for the currency of that Loan; or

 

		(ii)	no Screen Rate is available for the Interest Period of that Loan and it is not possible to calculate
an Interpolated Screen Rate for that Loan,

 

the Reference Bank Rate,

 

as of, in the case of paragraphs (a)
and (c) above, the Specified Time on the Quotation Day for the currency of that Loan and for a period equal in length to the Interest
Period of that Loan and, if any such rate is below zero, LIBOR will be deemed to be zero.

 

"Lien"
means, with respect to any property or assets, any mortgage, pledge, security interest, lien, charge, encumbrance, priority or
other security agreement or preferential arrangement of any kind or nature whatsoever on or with respect to such property or assets
(including, without limitation, any conditional sale or other title retention agreement having substantially the same economic
effect as any of the foregoing).

 

"LMA"
means the Loan Market Association.

 

"Loan"
means a loan made or to be made under the Facility or the principal amount outstanding for the time being of that loan.

 

"Major
Default" means, with respect to the Company and any Obligor only, any circumstances constituting:

 

		(a)	an Event of Default under Clause 22.1 (Non-Payment), insofar as it relates to non-payment
of principal and interest or fees due and payable pursuant to Clause 11 (Fees) provided that for the purposes of
this definition and Clause 4.3 (Certain Funds Period), such payments shall be irrevocably deemed made when received by the
Agent;

 

		(b)	a Default under paragraph (a) of Clause 22.3 (Other obligations) in so far as it relates
to a breach of:

 

		(i)	Clause 21.3 (Negative pledge);

 

		(ii)	Clause 21.4 (Disposals);

 

		(iii)	Clause 21.6 (Pari passu ranking); or

 

		(iv)	Clause 21.20 (Dividends);

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0723
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		(c)	a Default under paragraph (b) of Clause 22.3 (Other obligations) in so far as it relates
to a breach of:

 

		(i)	Clause 21.7 (Change of business);

 

		(ii)	Clause 21.13 (Anti-corruption law); or

 

		(iii)	Clause 21.14 (Sanctions);

 

		(d)	a Default under Clause 22.4 (Misrepresentation) insofar as it relates to a breach of any
Major Representation (unless the breach of the Major Representation is capable of remedy and is remedied within 21 days of the
earlier of: (A) the Agent giving notice to the Company; and (B) the Company becoming aware of the failure to comply);

 

		(e)	an Event of Default under Clause 22.6 (Insolvency);

 

		(f)	an Event of Default under Clause 22.7 (Insolvency Proceedings);

 

		(g)	an Event of Default under Clause 22.11 (Unlawfulness); and

 

		(h)	an Event of Default under Clause 22.12 (Repudiation),

 

provided that
any reference to the Group made (directly or by cross reference to other Clauses) in the paragraphs above will exclude in any
event members of the Target Group.

 

"Major
Representation" means, with respect to the Company and any Obligor only (excluding, for the avoidance of doubt the Target
and any member of the Target Group), a representation or warranty under any of the following Clauses (exclusively):

 

		(a)	Clause 18.1 (Status);

 

		(b)	Clause 18.2 (Binding Obligations);

 

		(c)	Paragraphs (b) and (c) of Clause 18.3 (Non-Conflict with Other Obligations);

 

		(d)	Clause 18.4 (Power and Authority);

 

		(e)	Clause 18.5 (Validity and Admissibility in Evidence);

 

		(f)	Clause 18.6 (Governing law and enforcement);

 

		(g)	Clause 18.7 (Insolvency);

 

		(h)	Clause 18.13 (Pari passu ranking);

 

		(i)	Clause 18.17 (Anti-corruption, anti-bribery and anti-money laundering laws and regulations);

 

		(j)	Clause 18.18 (Sanctions); and

 

		(k)	Clause 18.20 (Acquisition arrangements).

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0724
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

"Major
Target Default" means, with respect to the Target only, any circumstances constituting:

 

		(a)	an Event of Default under Clause 22.6 (Insolvency); and

 

		(b)	an Event of Default under Clause 22.7 (Insolvency Proceedings).

 

"Majority
Lenders" means a Lender or Lenders whose Commitments aggregate more than 662/3% of the Total Commitments (or, if the Total
Commitments have been reduced to zero, aggregated more than 662/3% of the Total Commitments immediately prior to the reduction).

 

"Mandatory
Prepayment Event" means any event of default, howsoever described, (other than a Cross Payment Default), taking into account
any originally applicable grace periods, which occurs under any agreement relating to any Debt of the Company or any of its Subsidiaries.

 

"Margin"
means:

 

	Period
from the date of this

Agreement
	 	Margin
 % p.a.
	 
	0 to 3 Months	 	 	1.50	 
	4 to 6 Months	 	 	2.00	 
	7 to 9 Months	 	 	2.50	 
	10 to 12 Months	 	 	3.00	 
	12 to 15 Months	 	 	3.50	 
	15 to 18 Months	 	 	4.00	 

 

"Material
Adverse Effect" means a material adverse effect on:

 

		(a)	the business, operations, assets, or financial condition of the Group taken as a whole;

 

		(b)	the ability of the Obligors (taken as a whole) to perform their obligations under the Finance Documents
in any material respect; or

 

		(c)	the validity or enforceability of the Finance Documents or the rights or remedies of any Finance
Party under the Finance Documents.

 

"Material
Company" means:

 

		(a)	an Obligor;

 

		(b)	a Significant Subsidiary; or

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0725
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		(c)	any other Subsidiaries which are not Significant Subsidiaries but where taken together, account
for more than 10 per cent. of the Consolidated EBITDA of the Group or consolidated revenues of the Group, or whose assets, taken
together, represent more than 10 per cent. of the assets of the Group.

 

"Merger"
means:

 

		(a)	an amalgamation, merger, consolidation of the Company with another person; or

 

		(b)	the direct or indirect conveyance, transfer, sale, leasing or otherwise disposal by the Company
of all or substantially all of its assets to any other person,

 

other than pursuant
to a Permitted Reorganisation.

 

"Minority
Shareholder Loan" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Month"
means a period starting on one day in a calendar month and ending on the numerically corresponding day in the next calendar month,
except that:

 

		(a)	(subject to paragraph (c) below) if the numerically corresponding day is not a Business Day,
that period shall end on the next Business Day in that calendar month in which that period is to end if there is one, or if there
is not, on the immediately preceding Business Day;

 

		(b)	if there is no numerically corresponding day in the calendar month in which that period is to end,
that period shall end on the last Business Day in that calendar month; and

 

		(c)	if an Interest Period begins on the last Business Day of a calendar month, that Interest Period
shall end on the last Business Day in the calendar month in which that Interest Period is to end.

 

The above rules will only apply to
the last Month of any period.

 

"Net Leverage
Ratio" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Net Proceeds"
means cash proceeds actually received by a member of the Group, net of all related fees, costs commissions, expenses and Taxes
in each case incurred by a member of the Group with respect to the transaction giving rise to the relevant Net Proceeds.

 

"New Lender"
has the meaning given to that term in Clause 23 (Changes to the Lenders).

 

"Obligor"
means a Borrower or the Guarantor.

 

"Original
Financial Statements" means in relation to the Company, the audited consolidated financial statements of the Group for
the Financial Year ended 31 December 2017.

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0726
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

"Original
Obligor" means an Original Borrower or the Guarantor.

 

"Party"
means a party to this Agreement.

 

"Permitted
Business" means:

 

		(a)	any business, services or activities engaged in by the Company or any member of the Group on the
date of this Agreement; and

 

		(b)	any business, services and activities that are related, complementary, incidental, ancillary or
similar to any of the foregoing, or are extensions or developments thereof, including, without limitation, broadband internet,
network-related services, cable television, broadcast content, network neutral services, electronic transactional, financial and
commercial services related to provision of telephony or internet services.

 

"Permitted
Discontinuance of Property Maintenance" means the discontinuance of the operation or maintenance of the properties of
any member of the Group if such discontinuance is, in the Company's judgment, desirable in the conduct of its business or the business
of such member of the Group, and will not have a Material Adverse Effect.

 

"Permitted
Disposal" means:

 

		(a)	any sale, lease, licence, transfer or other disposal:

 

		(i)	of any asset for which an agreement to effect such sale, lease, licence, transfer or other disposal
was entered into prior to the date of this Agreement and disclosed in writing to the Agent prior to the date of this Agreement;

 

		(ii)	of damaged, worn-out, obsolete or redundant assets for fair value;

 

		(iii)	of any asset by any member of the Group in the ordinary course of trading;

 

		(iv)	of any asset by a member of the Group to another member of the Group;

 

		(v)	of any asset in exchange for other assets comparable or superior as to type, value and quality;

 

		(vi)	of Cash Equivalents for cash or in exchange for other Cash Equivalents;

 

		(vii)	of any asset constituted by a licence of intellectual property rights permitted by Clause 21.18
(Intellectual Property);

 

		(viii)	of any asset to a Joint Venture, to the extent permitted by Clause 21.9 (Joint Ventures);
or

 

		(ix)	arising as a result of any Permitted Lien;

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0727
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		(x)	of assets which are seized, expropriated or acquired by compulsory purchase by or by the order
of any central or local government authority;

 

		(b)	any Specified Subsidiary Sale;

 

		(c)	the disposal of Capital Stock of the Company held by the Company or any Subsidiary of the Company;

 

		(d)	the disposal of any asset at Fair Market Value, provided that the proceeds of such disposal
are:

 

		(i)	reinvested in assets to be used for the business of the Group as soon as reasonably practicable,
but in any event within six months of receipt; and

 

		(ii)	certified by the Chief Financial Officer of the Company as having been so reinvested in the next
Compliance Certificate delivered to the Agent following the expiry of the relevant six month period.

 

		(e)	any sale, lease, licence, transfer or other disposal of assets for cash where the higher of the
book value and net consideration receivable (when aggregated with the higher of the book value and net consideration receivable
for any other sale, lease, licence, transfer or other disposal) does not exceed US$ 150,000,000 (or its equivalent in any other
currency or currencies) in total during the term of this Agreement and does not exceed US$ 75,000,000 (or its equivalent in any
other currency or currencies) in any Financial Year of the Company; and

 

		(f)	the disposal of up to 25 per cent. of the outstanding ordinary shares or other Capital Stock of
any of the Subsidiaries of the Company organised or operating in Tanzania in a public offering and listing on the Dar es Salaam
Stock Exchange or any other exchange approved by the Company;

 

		(g)	any disposal made with the prior written consent of the Agent acting on the instructions of the
Majority Lenders.

 

"Permitted
Interest Rate, Currency or Commodity Price Agreement" means any Interest Rate, Currency or Commodity Price Agreement entered
into with one or more financial institutions in the ordinary course of business that is designed to protect against fluctuations
in interest rates or currency exchange rates and which shall have a notional amount no greater than the payments due with respect
to the Debt being hedged thereby, or in the case of currency or commodity protection agreements against currency exchange or commodity
price fluctuations in the ordinary course of business relating to then existing financial obligations and not for purposes of speculation.

 

"Permitted
Joint Venture" means any Joint Venture where:

 

		(a)	the Joint Venture is incorporated, or established, and carries on its principle business in a jurisdiction
and territory that is not a Sanctioned Country;

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0728
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		(b)	the Joint Venture is engaged in a business substantially the same as that carried on by the Group;
and

 

		(c)	in any Financial Year of the Company, the aggregate of:

 

		(i)	the contingent liabilities of any member of the Group under any guarantee given in respect of the
liabilities of any Joint Venture; and

 

		(ii)	the net book value of any assets transferred by any member of the Group to any Joint Venture,

 

does not exceed US$ 100,000,000 (or
its equivalent in any other currency or currencies).

 

"Permitted
Lien" means:

 

		(a)	Liens for taxes, assessments or governmental charges, or levies on the property of any member of
the Group if the same shall not at the time be delinquent or thereafter can be paid without penalty, or are being contested in
good faith and by appropriate proceeds promptly instituted and diligently concluded, provided that any reserve or other
appropriate provision that shall be required in conformity with IFRS shall have been made therefor;

 

		(b)	Liens imposed by law, such as statutory Liens of landlords', carriers', materialmen's, repairmen's,
construction, warehousemen's and mechanics' Liens and other similar Liens, on the property of any member of the Group arising in
the ordinary course of trading or Liens arising solely by virtue of any statutory or common law business relating to attorneys'
liens or bankers' liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with
a creditor depositary institution;

 

		(c)	Liens on the property of any member of the Group incurred in the ordinary course of business to
secure performance of obligations with respect to statutory or regulatory requirements, performance bids, trade contracts, letters
of credit, performance or return-of-money bonds, surety bonds or other obligations of a like nature and incurred in a manner consistent
with industry practice, in each case which are not incurred in connection with the borrowing of money, the obtaining of advances
or credit or the payment of the deferred purchase price of property and which do not in the aggregate impair in any material respect
the use of property in the operation of the business of the Group taken as a whole;

 

		(d)	Liens on property at the time a member of the Group acquired such property and Liens incurred in
anticipation of or in connection with the transaction pursuant to which such property was acquired by a member of the Group, including
any acquisition by means of a merger or consolidation; provided, however, that any such Lien may not extend to any other
property of the relevant member of the Group;

 

    	 	- 20 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0729
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		(e)	Liens on the property or the Capital Stock of a person at the time such person becomes a member
of the Group; provided, however, that any such Lien may not extend to any other property or Capital Stock of any member
of the Group that is not a direct, or, prior to such time, indirect Subsidiary of such person; provided further, however, that
any such Lien was not incurred in anticipation of or in connection with the transaction or series of transactions pursuant to which
such person became a member of the Group;

 

		(f)	pledges or deposits by any member of the Group under workmen's compensation laws, unemployment
insurance laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment
of Debt) or leases to which any member of the Group is party, or deposits to secure public or statutory obligations of a member
of the Group or deposits for the payment of rent, in each case incurred in the ordinary course of business;

 

		(g)	utility easements, building restrictions and such other encumbrances or charges against real property
as are of a nature generally existing with respect to properties of a similar character;

 

		(h)	any provision for the retention of title to any property by the vendor or transferor of such property
which property is acquired by a member of the Group in a transaction entered into in the ordinary course of business of the relevant
member of the Group and for which kind of transaction it is customary market practice for such retention of title provision to
be included;

 

		(i)	Liens arising by means of any judgment, decree or order of any court, to the extent not otherwise
resulting in a Default, so long as any appropriate legal proceedings which may have been duly initiated for the review of such
judgment, decree or order have not been fully terminated or the period within which such proceedings may be initiated has not expired
and any Liens that are required to protect or enforce rights in any administrative, arbitration or other court proceeding in the
ordinary course of business;

 

		(j)	any Lien securing Debt incurred under any Permitted Interest Rate, Currency or Commodity Price
Agreement;

 

		(k)	any Lien securing Acquired Debt;

 

		(l)	mortgages, liens, security interests, restrictions, encumbrances or any other matters of record
that have been placed by any developer, landlord or other third party on property over which a member of the Group has easement
rights or on any real property leased by any member of the Group or similar agreements relating thereto, and any condemnation or
eminent domain proceedings or compulsory purchase order affecting real property;

 

		(m)	Liens existing on the date of this Agreement and disclosed in writing to the Agent prior to the
date of this Agreement;

 

		(n)	Liens in favour of the Company;

 

		(o)	Liens on insurance policies and the proceeds thereof, or other deposits, to secure insurance premium
financings in respect of the Group;

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0730
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		(p)	Liens arising from financing statement filings (or other similar filings in any applicable jurisdiction)
regarding operating leases entered into by any member of the Group in the ordinary course of business;

 

		(q)	Liens on goods (and the proceeds thereof) and documents of title and the property covered thereby
securing Debt in respect of commercial letters of credit issued to facilitate the purchase, shipment or storage of such inventory
or other goods;

 

		(r)	Liens on the property of a member of the Group to replace in whole or in part, any Lien described
in the foregoing paragraphs (a) through (q); provided that any such Lien is limited to all or part of the same property
or assets (plus improvements, accessions, proceeds or dividends or distributions in respect thereof) that secured (or, under the
written arrangements under which the original Lien arose, could secure) the Debt being refinanced or in respect of property that
is the security for a Permitted Lien hereunder;

 

		(s)	Liens on any escrow account used in connection with pre-funding a refinancing of Debt otherwise
permitted under this Agreement;

 

		(t)	Liens on any member of the Group's deposits in favor of financial institutions arising from any
netting or set-off arrangement substantially consistent with its current practice for the purpose of netting debt and credit balances
substantially consistent with the Group's existing cash pooling arrangements;

 

		(u)	Liens incurred in the ordinary course of business of any member of the Group with respect to obligations
that do not exceed the greater of US$ 150,000,000 or 3% of the consolidated net assets of the Company (being the total assets shown
on the consolidated financial statements of the Company most recently delivered to the Lenders pursuant to this Agreement, less
all goodwill, patents, trade names, trademarks, copyrights, franchises, experimental expenses, organization expenses and any other
amounts classified as intangible assets in accordance with IFRS) at any one time outstanding and that do not in the aggregate materially
detract from the value of the property of the Company, or materially impair the use thereof in the operation of business by the
Group;

 

		(v)	Liens over cash or other assets that secure collateralised obligations described in paragraph (a)
of the third paragraph of the definition of Debt; provided that the amount of cash collateral does not exceed the principal
amount of the Proceeds On-Loan;

 

		(w)	any Lien securing debt incurred by one or more Subsidiaries of the Company organised or incorporated
in Tanzania or Zanzibar in a principal amount of up to $300,000,000 to finance the operations of any member of the Group in Tanzania,
provided that such debt is not guaranteed or secured by a member of the Group other than (i) a member of the Group organised
or incorporated in Tanzania or Zanzibar; or (ii) in respect of share security only, the immediate Holding Company of the relevant
member of the Group organised or incorporated in Tanzania or Zanzibar;

 

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		(x)	Liens over cash or other assets that secure letters of credit, bankers' acceptances or similar
facilities; and

 

		(y)	Liens on Restricted MFS Cash in favour of the customers or dealers of, or third parties in relation
to, one or more member of the Group engaged in the provision of mobile financial services, in each case who provided such Restricted
MFS Cash to the relevant member of the Group.

 

"Permitted
Loan" means:

 

		(a)	any loan made by any member of the Group with the prior written consent of the Agent acting on
the instructions of the Majority Lenders;

 

		(b)	any loan or credit existing on the date of this Agreement and disclosed in writing to the Agent
prior to the date of this Agreement, or any replacement loan or credit between the same parties and on substantially the same terms
and for an amount not exceeding the original loan or credit;

 

		(c)	any loan made by an Obligor to a member of the Group to distribute the proceeds of Debt incurred
pursuant to this Agreement;

 

		(d)	any loan made by an Obligor to another Obligor or made by a member of the Group which is not an
Obligor to another member of the Group;

 

		(e)	any loan made by an Obligor to a member of the Group which is not an Obligor so long as the aggregate
amount of the Debt under any such loans does not exceed US$ 200,000,000 (or its equivalent in any other currency or currencies)
at any time;

 

		(f)	any loan made to another member of the Group pursuant to any cash pooling arrangement;

 

		(g)	any loan or credit constituted by a member of the Group deferring purchase consideration due to
it on the disposal of an asset, provided that the relevant disposal is a Permitted Disposal;

 

		(h)	any loan, credit or trade credit extended by any member of the Group to its customers on normal
commercial terms and in the ordinary course of its trading activities;

 

		(i)	any advance payment made in relation to capital expenditure in the ordinary course of day to day
business;

 

		(j)	any loan made for the purposes of enabling an Obligor to meet its payment obligations under the
Finance Documents, provided the relevant Obligor does not (or does not reasonably expect to) otherwise have sufficient cash available
to meet such payment obligations;

 

		(k)	any loan made by a member of the Group to an employee or director of any member of the Group if
the amount of that loan, when aggregated with the amount of all loans to employees and directors by members of the Group, does
not exceed US$ 25,000,000 (or its equivalent in any other currency or currencies) at any time;

 

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		(l)	any loan to a Permitted Joint Venture which is not otherwise prohibited by the terms of this Agreement
if the principal amount of that loan, when aggregated with the principal amount of all other such loans to Permitted Joint Ventures,
does not exceed US$ 100,000,000 (or its equivalent in any other currency or currencies) at any time;

 

		(m)	any credit balance held in the ordinary course of day to day business with a bank or financial
institution;

 

		(n)	any loan made by an Obligor to a member of the Target Group for the purposes of refinancing Debt
of any member of the Target Group provided the aggregate principal amount of Debt under all such loans to the Target Group does
not exceed US$ 300,000,000 (or its equivalent in any other currency or currencies) at any time;

 

		(o)	any loan or extension of credit described in the third paragraph of the definition of Debt;
and

 

		(p)	any other loan or extension of credit not permitted under paragraphs (a) to (o) above provided
the aggregate principal amount of Debt under all such loans does not exceed US$ 25,000,000 (or its equivalent in any other currency
or currencies) at any time.

 

"Permitted
Reorganisation" means an amalgamation, merger, consolidation, corporate reconstruction, or reorganisation involving the
Company where the entity formed by or surviving such amalgamation, merger, consolidation, corporate reconstruction, or reorganisation
is the Company.

 

"Permitted
Tax Non-Payment" means a non-payment or non-discharge in respect of any tax, assessment or charge which, on the date of
determination, is not delinquent or thereafter can be paid without penalty or whose amount, applicability or validity is being
contested in good faith by appropriate proceedings and for which adequate reserves (if required in accordance with IFRS) have been
established.

 

"Proceeds
On-Loan" has the meaning given to that term in the definition of "Debt".

 

"Quarter
Date" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Quarterly
Report" means a report containing the following information:

 

		(a)	the unaudited condensed consolidated statement of financial position of the Company as at the end
of the most recent Financial Quarter and unaudited condensed consolidated income statements and statements of cash flow of the
Company for the most recent Financial Quarter and year to date periods ending on the unaudited condensed consolidated statement
of financial position date and the comparable prior period (as determined by the IFRS standard on preparation of interim condensed
consolidated financial statements); and

 

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		(b)	a copy of the related operating and financial review included in the quarterly earnings release
of the Company for the applicable Financial Quarter.

 

"Quotation
Day" means, in relation to any period for which an interest rate is to be determined two Business Days before the first
day of that period, unless market practice differs in the Relevant Interbank Market for a currency, in which case the Quotation
Day for that currency will be determined by the Agent in accordance with market practice in the Relevant Interbank Market (and
if quotations would normally be given by leading banks in the Relevant Interbank Market on more than one day, the Quotation Day
will be the last of those days).

 

"Redeemable
Stock" of any person means any Capital Stock of such person that by its terms (or by the terms of any security into which
it is convertible or for which it is exchangeable) or otherwise (including upon the occurrence of an event) matures or is required
to be redeemed (pursuant to any sinking fund obligation or otherwise) or is convertible into or exchangeable for Debt or is redeemable
at the option of the holder thereof, in whole or in part, at any time prior to the Termination Date or the Extended Termination
Date (as applicable).

 

"Reference
Bank Quotation" means any quotation supplied to the Agent by a Reference Bank.

 

"Reference
Bank Rate" means the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Agent at
its request by the Reference Banks as the rate at which the relevant Reference Bank could borrow funds in the London interbank
market in dollars and for the relevant period, were it to do so by asking for and then accepting interbank offers for deposits
in reasonable market size in dollars and for that period.

 

"Reference
Banks" means such banks as may be appointed by the Agent in consultation with the Company (provided that any such bank
has consented to be a Reference Bank for the purposes of this Agreement).

 

"Regulation"
means the Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast).

 

"Related
Fund" in relation to a fund (the "first fund"), means a fund which is managed or advised by the same
investment manager or investment adviser as the first fund or, if it is managed by a different investment manager or investment
adviser, a fund whose investment manager or investment adviser is an Affiliate of the investment manager or investment adviser
of the first fund.

 

"Related
Parties" means:

 

		(a)	any controlling stockholder, partner or member of Kinnevik AB;

 

		(b)	any Subsidiary of Kinnevik AB; and

 

		(c)	any trust, corporation, partnership or other entity in respect of which Kinnevik AB
and/or the persons described in paragraphs (a) and (b) above are the beneficiaries, stockholders, partners, owners or persons
beneficially owning a majority or a controlling interest.

 

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"Relevant
Interbank Market" means the London interbank market.

 

"Relevant
Period" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Repeating
Representations" means each of the representations set out in Clauses 18.1 (Status) to 18.7 (Insolvency),
Clause 18.10 (No default), paragraph (c) of Clause 18.12 (Financial statements), 18.17 (Anti-corruption
law), 18.18 (Sanctions) and 18.20 (Acquisition arrangements).

 

"Representative"
means any delegate, agent, manager, administrator, nominee, attorney, trustee or custodian.

 

"Resignation
Letter" means a letter substantially in the form set out in Schedule 7 (Form of Resignation Letter).

 

"Restricted
Cash" has the meaning given to that term in Clause 20.1 (Financial definitions).

 

"Restricted
MFS Cash" means, as of any date of determination, an amount equal to any cash paid in or deposited by or held on behalf
of any customer or dealer of, or any other third party in relation to, one or more member of the Group engaged in the provision
of mobile financial services and designated as "restricted cash" on the consolidated statement of financial position
of the Company, together with any interest thereon.

 

"Revolving
Credit Facility" means the $600,000,000 facility agreement dated 27 January 2017 between, amongst others, the Company
as the company, original borrower and guarantor, The Bank of Nova Scotia, BNP Paribas, Citigroup Global Markets Limited, DNB Markets,
a part of DNB Bank ASA, Sweden Branch, Goldman Sachs Bank USA, J.P. Morgan Limited, Nordea Bank AB (Publ) and Standard Chartered
Bank as arrangers, and DNB Bank ASA, Sweden Branch as agent, as amended, supplemented, varied or novated from time to time.

 

"Sanctioned
Country" means a country or territory which is subject to general, country wide trade, economic or financial sanctions
or embargoes imposed, administered or enforced by:

 

		(a)	the United States of America (including the Office of Foreign Assets Control of the U.S. Department
of the Treasury, and the U.S. Department of State);

 

		(b)	the United Nations;

 

		(c)	the European Union;

 

		(d)	Her Majesty's Treasury, and the Foreign and Commonwealth Office of the United Kingdom;

 

		(e)	the Canadian Ministry for Foreign Affairs; or

 

		(f)	any other relevant authority having jurisdiction over a Finance Party or a member of the Group.

 

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"Sanctions"
means any economic or financial sanctions, trade embargoes, laws, regulations or restrictive measures imposed, administered or
enforced from time to time by:

 

		(a)	the United States of America (including the Office of Foreign Assets Control of the U.S. Department
of the Treasury, and the U.S. Department of State);

 

		(b)	the United Nations;

 

		(c)	the European Union;

 

		(d)	Her Majesty's Treasury, and the Foreign and Commonwealth Office of the United Kingdom;

 

		(e)	the Canadian Ministry for Foreign Affairs; or

 

		(f)	any other relevant authority.

 

"Sanctions
List" means any of the lists of specific designated nations, sectoral sanctions or designated persons or entities (or
equivalent) held by:

 

		(a)	the United States of America (including the Office of Foreign Assets Control of the U.S. Department
of the Treasury, and the U.S. Department of State);

 

		(b)	the United Nations;

 

		(c)	the European Union;

 

		(d)	Her Majesty's Treasury, and the Foreign and Commonwealth Office of the United Kingdom;

 

		(e)	the Canadian Ministry for Foreign Affairs; or

 

		(f)	any other relevant authority having jurisdiction over a Finance Party or a member of the Group;

 

each as amended, supplemented or
substituted from time to time.

 

"Screen
Rate" means the dollar London interbank offered rate administered by ICE Benchmark Administration Limited (or any other
person which takes over the administration of that rate) for the relevant period displayed on page LIBOR01 of the Thomson Reuters
screen (or any replacement Thomson Reuters page which displays that rate) or on the appropriate page of such other information
service which publishes that rate from time to time in place of Thomson Reuters. If such page or service ceases to be available,
the Agent may specify another page or service displaying the relevant rate after consultation with the Company.

 

"Securities
Act" means the United States Securities Act of 1933, as amended from time to time and the rules and regulations promulgated
pursuant thereto.

 

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"Security"
means a mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any other agreement
or arrangement having a similar effect.

 

"Selection
Notice" means a notice substantially in the form set out in Schedule 3Part II of Schedule 3 (Requests) given in
accordance with Clause 9 (Interest Periods).

 

"Significant
Subsidiary" means a Subsidiary of the Company:

 

		(a)	which accounts for more than 10 per cent. of the Consolidated EBITDA of the Group or consolidated
revenues of the Group; or

 

		(b)	whose assets represent more than 10 per cent. of the assets of the Group.

 

"Specified
Subsidiary Sale" means the sale, transfer or other disposition of all of the Capital Stock, or all of the assets or properties
of, (a) any entity, the primary purpose of which is to own Tower Equipment located in any market in which any member of the Group
operates; (b) any person which operates any member of the Group's mobile financial services business; (c) Latin America Internet
Holding GmbH; or (d) Africa Internet Holding GmbH.

 

"Specified
Time" means a time determined in accordance with Schedule 10 (Timetables).

 

"Subsidiary"
means in respect of any person:

 

		(a)	any corporation in which it or one or more of its Subsidiaries directly or indirectly owns more
than 50 per cent. of the combined voting power of the outstanding voting stock; or

 

		(b)	any other entity in which it or one or more of its Subsidiaries:

 

		(i)	directly or indirectly has majority ownership, but only to the extent such majority ownership results
in an entitlement to the majority of the profits generated by that entity; or

 

		(ii)	has the power to direct the policies, management and affairs thereof.

 

"Target"
means Cable Onda, S.A.

 

"Target
Group" means the Target and its Subsidiaries from time to time.

 

"Target
Shares" means the shares of the Target (constituting 80% of the issued and outstanding shares of the Target) to be acquired
pursuant to the Acquisition Agreement.

 

"Tax"
means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable
in connection with any failure to pay or any delay in paying any of the same).

 

"Tax Deduction"
has the meaning given to that term in Clause 12.1 (Definitions).

 

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"Termination
Date" means, subject to Clause 6.2 (Extension Option), the date falling 12 months from the date of this Agreement.

 

"Total
Commitments" means the aggregate of the Commitments, being US$ 1,000,000,000 at the date of this Agreement.

 

"Tower
Equipment" means passive infrastructure related to telecommunications services, excluding telecommunications equipment,
but including, without limitation, towers (including tower lights and lightning rods), power breakers, deep cycle batteries, generators,
voltage regulators, main AC power, rooftop masts, cable ladders, grounding, walls and fences, access roads, shelters, air conditioners
and BTS batteries owned by any member of the Group.

 

"Transfer
Certificate" means a certificate substantially in the form set out in Schedule 4 (Form of Transfer Certificate)
or any other form agreed between the Agent and the Company.

 

"Transfer
Date" means, in relation to an assignment or a transfer, the later of:

 

		(a)	the proposed Transfer Date specified in the relevant Assignment Agreement or Transfer Certificate;
and

 

		(b)	the date on which the Agent executes the relevant Assignment Agreement or Transfer Certificate.

 

"Unpaid
Sum" means any sum due and payable but unpaid by an Obligor under the Finance Documents.

 

"US Tax
Obligor" means:

 

		(a)	a Borrower which is resident for tax purposes in the United States of America; or

 

		(b)	an Obligor some or all of whose payments under the Finance Documents are from sources within the
United States for US federal income tax purposes.

 

"Utilisation"
means a utilisation of the Facility.

 

"Utilisation
Date" means the date of a Utilisation, being the date on which the relevant Loan is to be made.

 

"Utilisation
Request" means a notice substantially in the form set out in Part I Schedule 3 (Requests).

 

"VAT"
means:

 

		(a)	any tax imposed in compliance with the Council Directive of 28 November 2006 on the common system
of value added tax (EC Directive 2006/112); and

 

		(b)	any other tax of a similar nature, whether imposed in a member state of the European Union in substitution
for, or levied in addition to, such tax referred to in paragraph (a) above, or imposed elsewhere.

 

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		1.2	Construction

 

		(a)	Unless a contrary indication appears any reference in this Agreement to:

 

		(i)	the "Agent", the "Arranger", any "Finance Party",
any "Lender", any "Obligor" or any "Party" shall be construed so as to include
its successors in title, permitted assigns and permitted transferees;

 

		(ii)	"assets" includes present and future properties, revenues and rights of every
description;

 

		(iii)	a "Finance Document" or any other agreement or instrument is a reference to that
Finance Document or other agreement or instrument as amended, novated, supplemented, extended, replaced or restated;

 

		(iv)	"indebtedness" includes any obligation (whether incurred as principal or as surety)
for the payment or repayment of money, whether present or future, actual or contingent;

 

		(v)	a "person" includes any individual, firm, company, corporation, government, state
or agency of a state or any association, trust, joint venture, consortium or partnership (whether or not having separate legal
personality);

 

		(vi)	a "regulation" includes any regulation, rule, official directive, request or guideline
(whether or not having the force of law) of any governmental, intergovernmental or supranational body, agency, department or of
any regulatory, self-regulatory or other authority or organisation;

 

		(vii)	a provision of law is a reference to that provision as amended or re-enacted; and

 

		(viii)	a time of day is a reference to London time.

 

		(b)	The determination of the extent to which a rate is "for a period equal in length"
to an Interest Period shall disregard any inconsistency arising from the last day of that Interest Period being determined pursuant
to the terms of this Agreement.

 

		(c)	Section, Clause and Schedule headings are for ease of reference only.

 

		(d)	Unless a contrary indication appears, a term used in any other Finance Document or in any notice
given under or in connection with any Finance Document has the same meaning in that Finance Document or notice as in this Agreement.

 

		(e)	A Default (other than an Event of Default) is "continuing" if it has not been
remedied or waived and an Event of Default is "continuing" if it has not been remedied or waived.

 

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		1.3	Currency Symbols and Definitions

 

		(a)	"$" and "dollars" denote the lawful currency of the United States
of America.

 

		1.4	Third party rights

 

		(a)	A person who is not a Party has no right under the Contracts (Rights of Third Parties) Act 1999
(the "Third Parties Act") to enforce or to enjoy the benefit of any term of this Agreement.

 

		(b)	Subject to paragraph (b) of Clause 34.2 (Exceptions) but otherwise notwithstanding any term
of any Finance Document, the consent of any person who is not a Party is not required to rescind or vary this Agreement at any
time.

 

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SECTION 2

THE FACILITY

 

		2.	The Facility

 

		2.1	The Facility

 

Subject to the terms of this Agreement,
the Lenders make available to the Borrowers a dollar term loan facility in an aggregate amount equal to the Total Commitments.

 

		2.2	Increase

 

		(a)	The Company may by giving prior notice to the Agent by no later than the date falling five Business
Days after the effective date of a cancellation of:

 

		(i)	the Available Commitments of a Defaulting Lender in accordance with Clause 7.11 (Right
of cancellation in relation to a Defaulting Lender); or

 

		(ii)	the Commitments of a Lender in accordance with:

 

		(A)	Clause 7.1 (Illegality); or

 

		(B)	paragraph (a) of Clause 7.10 (Right of replacement
or repayment and cancellation in relation to a single Lender),

 

request that the Commitments relating
to the Facility be increased (and the Commitments relating to the Facility shall be so increased) in an aggregate amount of up
to the amount of the Available Commitments or Commitments relating to the Facility so cancelled as follows:

 

		(iii)	the increased Commitments will be assumed by one or more Lenders or other banks, financial institutions,
trusts, funds or other entities (each an "Increase Lender") selected by the Company (each of which shall not be
a member of the Group) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness
to assume and does assume all the obligations of a Lender corresponding to that part of the increased Commitments which it is to
assume, as if it had been an Original Lender;

 

		(iv)	each of the Obligors and any Increase Lender shall assume obligations towards one another and/or
acquire rights against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase
Lender been an Original Lender;

 

		(v)	each Increase Lender shall become a Party as a "Lender" and any Increase Lender and each
of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase
Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender;

 

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		(vi)	the Commitments of the other Lenders shall continue in full force and effect; and

 

		(vii)	any increase in the Commitments relating to the Facility shall take effect on the date specified
by the Company in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are
satisfied.

 

		(b)	An increase in the Commitments relating to the Facility will only be effective on:

 

		(i)	the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; and

 

		(ii)	in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase
the Agent being satisfied that it has complied with all necessary "know your customer" or other similar checks under
all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender. The Agent
shall promptly notify the Company and the Increase Lender upon being so satisfied.

 

		(c)	Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt)
that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite
Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective.

 

		(d)	The Company shall, promptly on demand, pay the Agent the amount of all costs and expenses (including
legal fees) reasonably incurred by it in connection with any increase in Commitments under this Clause 2.2, in each case up
to the limit of an amount agreed by the Company and the Agent (provided that the Agent shall not be obliged to take any
action pursuant to this Clause 2.2 in the absence of any such agreement).

 

		(e)	The Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for
its own account) a fee in an amount equal to the fee which would be payable under Clause 23.3 (Assignment or transfer fee)
if the increase was a transfer pursuant to Clause 23.5 (Procedure for transfer) and if the Increase Lender was a New
Lender.

 

		(f)	The Company may pay to the Increase Lender a fee in the amount and at the times agreed between
the Company and the Increase Lender in a letter between the Company and the Increase Lender setting out that fee. A reference in
this Agreement to a Fee Letter shall include any letter referred to in this paragraph.

 

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		(g)	Clause 23.4 (Limitation of responsibility of Existing Lenders) shall apply mutatis
mutandis in this Clause 2.2 in relation to an Increase Lender as if references in that Clause to:

 

		(i)	an "Existing Lender" were references to all the Lenders immediately prior to the
relevant increase;

 

		(ii)	the "New Lender" were references to that "Increase Lender"; and

 

		(iii)	a "re-transfer" and "re-assignment" were references to respectively
a "transfer" and "assignment".

 

		2.3	Finance Parties' rights and obligations

 

		(a)	The obligations of each Finance Party under the Finance Documents are several. Failure by a Finance
Party to perform its obligations under the Finance Documents does not affect the obligations of any other Party under the Finance
Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.

 

		(b)	The rights of each Finance Party under or in connection with the Finance Documents are separate
and independent rights and any debt arising under the Finance Documents to a Finance Party from an Obligor is a separate and independent
debt in respect of which a Finance Party shall be entitled to enforce its rights in accordance with paragraph (c) below. The rights
of each Finance Party include any debt owing to that Finance Party under the Finance Documents and, for the avoidance of doubt,
any part of a Loan or other amount owed by an Obligor which relates to a Finance Party's participation in the Facility or its role
under a Finance Document (including any such amount payable to the Agent on its behalf) is a debt owing to that Finance Party by
the relevant Obligor.

 

		(c)	A Finance Party may, except as otherwise stated in the Finance Documents, separately enforce its
rights under the Finance Documents.

 

		3.	Purpose

 

		3.1	Purpose

 

Each Borrower shall apply all amounts
borrowed by it under the Facility towards:

 

		(a)	financing the purchase price payable for the Target Shares under the Acquisition Documents;

 

		(b)	refinancing Debt of any member of the Target Group;

 

		(c)	financing Acquisition Costs and amounts payable in respect of interest, fees, costs and expenses
in relation to the Facility or the Acquisition.

 

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		3.2	Monitoring

 

No Finance Party is bound to monitor
or verify the application of any amount borrowed pursuant to this Agreement.

 

		4.	Conditions of Utilisation

 

		4.1	Initial conditions precedent

 

		(a)	No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents
and other evidence listed in Schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent
shall notify the Company and the Lenders promptly upon being so satisfied.

 

		(b)	Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary
before the Agent gives the notification described in paragraph (a) above, the Lenders authorise (but do not require) the Agent
to give that notification. The Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any
such notification.

 

		4.2	Further conditions precedent

 

The Lenders will only be obliged
to comply with Clause 5.4 (Lenders' participation) if on the date of the Utilisation Request and on the proposed Utilisation
Date (in relation to a Utilisation other than one to which Clause 4.3 (Certain Funds Period) applies):

 

		(a)	there is no breach of Clause 21.16 (Financial indebtedness);

 

		(b)	no Default is continuing or would result from the proposed Loan; and

 

		(c)	the Repeating Representations to be made by each Obligor are true in all material respects.

 

		4.3	Certain Funds Period

 

		(a)	Except as set out in paragraph (b) below, but notwithstanding any other provision of the Finance
Documents, during the Certain Funds Period, none of the Finance Parties shall be entitled to:

 

		(i)	refuse to participate in or make available its participation in any Certain Funds Utilisation;

 

		(ii)	cancel any of its Commitments to the extent to do so would prevent or limit the making of a Certain
Funds Utilisation;

 

		(iii)	rescind, terminate or cancel this Agreement or the Facility or exercise any similar right or remedy
or make or enforce any claim under the Finance Documents it may have to the extent to do so would prevent or limit the making of
a Certain Funds Utilisation;

 

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		(iv)	exercise any right of set-off or counterclaim in respect of a Utilisation to the extent to do so
would prevent or limit the making a Certain Funds Utilisation; or

 

		(v)	cancel, accelerate or cause repayment or prepayment of any amounts owing under this Agreement or
under any other Finance Document to the extent to do so would prevent or limit the making of a Certain Funds Utilisation,

 

provided that immediately upon the
expiry of the Certain Funds Period all such rights, remedies and entitlements shall be available to the Finance Parties notwithstanding
that they may not have been used or been available for use during the Certain Funds Period.

 

		(b)	Paragraph (a) above does not apply in respect of a Finance Party if, and to the extent that, the
entitlement of that Finance Party arises because:

 

		(i)	in the case of sub-paragraph (a)(i) above, Clause 4.1 (Initial conditions precedent) has
not been complied with;

 

		(ii)	a Major Default is continuing or, in the case of sub-paragraph (a)(i) above, a Major Default would
result from the proposed Utilisation;

 

		(iii)	in the case of a Certain Funds Utilisation following the Acquisition Closing Date only, a Major
Target Default is continuing or, in the case of sub-paragraph (a)(i) above, a Major Target Default would result from the proposed
Utilisation;

 

		(iv)	in the case of sub-paragraph (a)(i) above, a Major Default under paragraph (d) of the definition
thereof is continuing or would result from the proposed Utilisation (and, for the purposes of this sub-paragraph only, disregarding
any applicable grace period);

 

		(v)	a Major Representation is not true in all material respects;

 

		(vi)	Clause 7.1 (Illegality) applies in respect of that Finance Party; or

 

		(vii)	Clause 7.2 (Merger), Clause 7.3 (Change of control) or Clause 7.6 (Mandatory Prepayment
Event) applies.

 

		4.4	Maximum number of Loans

 

		(a)	A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation the
aggregate number of Loans outstanding under the Facility would exceed 4.

 

		(b)	A Borrower may not request that a Loan be divided if, as a result of the proposed division, 4 or
more Loans would be outstanding.

 

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SECTION 3

UTILISATION

 

		5.	Utilisation - Loans

 

		5.1	Delivery of a Utilisation Request

 

A Borrower may utilise the Facility
by delivery to the Agent of a duly completed Utilisation Request not later than the Specified Time.

 

		5.2	Completion of a Utilisation Request

 

		(a)	Each Utilisation Request is irrevocable and will not be regarded as having been duly completed
unless:

 

		(i)	the proposed Utilisation Date is a Business Day within the Availability Period;

 

		(ii)	the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount);
and

 

		(iii)	the proposed Interest Period complies with Clause 9 (Interest Periods).

 

		(b)	Only one Loan may be requested in each Utilisation Request.

 

		5.3	Currency and amount

 

		(a)	The currency specified in a Utilisation Request must be dollars.

 

		(b)	The amount of the proposed Loan must be a minimum of US$ 10,000,000 or, if less, the Available
Facility.

 

		5.4	Lenders' participation

 

		(a)	If the conditions set out in this Agreement have been met, each Lender shall make its participation
in each Loan available by the Utilisation Date through its Facility Office.

 

		(b)	The amount of each Lender's participation in each Loan will be equal to the proportion borne by
its Available Commitment to the Available Facility immediately prior to making the Loan.

 

		5.5	Lender Affiliates and Facility Office

 

		(a)	In respect of a Loan or Loans to a particular Borrower ("Designated Loans") a
Lender (a "Designating Lender") may at any time and from time to time designate (by written notice to the Agent
and the Company):

 

		(i)	a substitute Facility Office from which it will make Designated Loans (a "Substitute Facility
Office"); or

 

		(ii)	nominate an Affiliate to act as the Lender of Designated Loans (a "Substitute Affiliate
Lender").

 

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		(b)	A notice to nominate a Substitute Affiliate Lender must be in the form set out in Schedule 12 (Form
of Substitute Affiliate Lender Designation Notice) and be countersigned by the relevant Substitute Affiliate Lender confirming
it will be bound as a Lender under this Agreement in respect of the Designated Loans in respect of which it acts as Lender.

 

		(c)	The Designating Lender will act as the representative of any Substitute Affiliate Lender it nominates
for all administrative purposes under this Agreement. The Obligors, the Agent and the other Finance Parties will be entitled to
deal only with the Designating Lender, except that payments will be made in respect of Designated Loans to the Facility Office
of the Substitute Affiliate Lender. In particular the Commitments of the Designating Lender will not be treated as reduced by the
introduction of the Substitute Affiliate Lender for voting purposes under this Agreement or the other Finance Documents.

 

		(d)	Save as mentioned in paragraph (c) above, a Substitute Affiliate Lender will be treated as a Lender
for all purposes under the Finance Documents and having a Commitment equal to the principal amount of all Designated Loans in which
it is participating if and for so long as it continues to be a Substitute Affiliate Lender under this Agreement.

 

		(e)	A Designating Lender may revoke its designation of an Affiliate as a Substitute Affiliate Lender
by notice in writing to the Agent and the Company provided that such notice may only take effect when there are no Designated Loans
outstanding to the Substitute Affiliate Lender. Upon such Substitute Affiliate Lender ceasing to be a Substitute Affiliate Lender
the Designating Lender will automatically assume (and be deemed to assume without further action by any Party) all rights and obligations
previously vested in the Substitute Affiliate Lender.

 

		(f)	If, as a result of the designation of a Substitute Facility Office or a Substitute Affiliate Lender,
an Obligor would be obliged to make a payment to the Designating Lender acting through its Substitute Facility Office or the Substitute
Affiliate Lender under Clause ‎12 (Tax gross-up and indemnities) or Clause ‎13
(Increased costs), then the Designating Lender acting through its Substitute Facility Office or the Substitute Affiliate
Lender (as applicable) is only entitled to receive payment under those Clauses to the same extent as the Designating Lender would
have been if such designation had not occurred.

 

		5.6	Cancellation of Commitment

 

The Commitments which, at that time,
are unutilised shall be immediately cancelled at the end of the Availability Period.

 

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SECTION 4

REPAYMENT, PREPAYMENT AND CANCELLATION

 

		6.	Repayment

 

		6.1	Repayment of Loans

 

		(a)	Each Borrower which has drawn a Loan shall repay that Loan on the Termination Date.

 

		(b)	The Borrowers may not reborrow any part of the Facility which is repaid.

 

		6.2	Extension Option

 

		(a)	Following the expiry of the Certain Funds Period, the Company may in it is sole discretion at any
time not more than ninety (90) days and not less than ten (10) Business Days prior to the original Termination Date request by
written notice to the Agent that the Termination Date be extended once, in relation to all or any part of any Loan which is outstanding,
by up to six (6) Months from the original Termination Date.

 

		(b)	The request pursuant to paragraph (a) above (the "Extension Option Notice") shall
be irrevocable and shall specify:

 

		(i)	the amount of each Loan to which the extension relates, provided that if a Loan is to be
extended in part, the amount of the Loan extended shall be apportioned to the Lenders at that time pro rata to their Commitments
in that Loan; and

 

		(ii)	the date to which the Termination Date of each Loan shall be extended (which shall, subject to
paragraph (c) below, not fall more than six (6) Months after the original Termination Date) (the "Extended Termination
Date").

 

		(c)	The Extended Termination Date specified in the Extension Option Notice must fall on a date that
is either one (1), two (2), three (3), four (4), five (5) or six (6) Months following the original Termination Date.

 

		(d)	The Agent shall forward a copy of the Extension Option Notice to each Lender as soon as practicable
after receipt of it.

 

		(e)	The Company may not deliver more than one (1) Extension Option Notice.

 

		(f)	If on the Termination Date:

 

		(i)	the extension option has been exercised in accordance with this Clause 6.2;

 

		(ii)	there is no Event of Default continuing; and

 

		(iii)	the Extension Fee has been paid in accordance with Clause 11.5 (Extension fee),

 

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the Termination Date shall be extended
in accordance with this Clause 6.2 in relation to the amount of the Loan specified in the Extension Option Notice until the Extended
Termination Date.

 

		7.	Prepayment and Cancellation

 

		7.1	Illegality

 

If, in any applicable jurisdiction,
it becomes unlawful for any Lender to perform any of its obligations as contemplated by this Agreement or to fund or maintain its
participation in any Loan or it becomes unlawful for any Affiliate of a Lender for that Lender to do so:

 

		(a)	that Lender shall promptly notify the Agent upon becoming aware of that event;

 

		(b)	upon the Agent notifying the Company, the Commitment of that Lender will be immediately cancelled;
and

 

		(c)	each Borrower shall repay that Lender's participation in the Loans made to that Borrower on the
last day of the Interest Period for each Loan occurring after the Agent has notified the Company or, if earlier, the date specified
by the Lender in the notice delivered to the Agent (being no earlier than the last day of any applicable grace period permitted
by law) and that Lender's corresponding Commitment shall be cancelled in the amount of the participations repaid.

 

		7.2	Merger

 

		(a)	Prior to any Merger, the Company shall promptly, and in any event no later than 30 days prior to
the completion of that Merger, notify the Agent of the proposed Merger.

 

		(b)	If a Lender so requires and notifies the Agent within 20 days of the Company notifying the Agent
of the Merger in accordance with paragraph (a) above, the Agent shall, by not less than 3 days' notice to the Company, cancel
the Commitment of that Lender and declare the participation of that Lender in all outstanding Loans of that Lender or Affiliate
of that Lender, together with accrued interest and all other amounts accrued under the Finance Documents, due and payable within
5 Business Days or, if earlier, the Business Day preceding the date on which the Merger is completed, at which time the Commitment
of that Lender will be cancelled and all such outstanding amounts will become due and payable prior to the completion of the Merger.

 

		7.3	Change of Control

 

Upon the occurrence of a Change of
Control:

 

		(a)	the Company shall promptly notify the Agent upon becoming aware of that event;

 

		(b)	a Lender shall not be obliged to fund a Utilisation; and

 

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		(c)	the Commitment of each Lender shall be immediately cancelled, and if a Lender so requires and notifies
the Agent within 20 days of the Company notifying the Agent of the event, the Agent shall declare the participation of that Lender
in all outstanding Loans of that Lender or Affiliate of that Lender, together with accrued interest and all other amounts accrued
under the Finance Documents, to be due and payable not less than 20 days following the delivery of such notice by the Lender.

 

		7.4	Refinancings

 

		(a)	At any time until the Total Commitments have been reduced to zero and all Loans have been prepaid
in full, the Company shall procure that an amount equal to the Net Proceeds of:

 

		(i)	any debt securities or bonds (convertible or otherwise); or

 

		(ii)	any loans, other than:

 

		(A)	any intra-Group loan of the proceeds of debt securities or bonds (convertible or otherwise) referred
to in paragraph (a)(i) above; and

 

		(B)	any loan borrowed under the Revolving Credit Facility,

 

in each case issued,
incurred, or borrowed by an Obligor and following the Acquisition Closing Date by (or in respect of) the Target or any member of
the Target Group after date of this Agreement and on or prior to the Termination Date or the Extended Termination Date (as applicable)
(each a "Financing"), are applied in the prepayment of Loans or the cancellation of Available Commitments at the
times and in the order of application contemplated by Clause 7.6 (Application of mandatory prepayments and cancellations)
provided that the Net Proceeds received from any Financing up to an amount equal to US$300,000,000 issued, incurred or borrowed
by the Target Group, the sole purpose of which is to refinance any Debt of the Target Group owed to the Sellers (where such Debt
owed to the Sellers has been issued, incurred or borrowed by the Target Group prior to the Acquisition Closing Date or otherwise
in conjunction with the Acquisition) shall be disregarded for the purposes of this Clause 7.4.

 

		(b)	The Company shall notify the Agent immediately on receipt of any Net Proceeds related to a Financing
received by an Obligor, the Target or any member of the Target Group.

 

		7.5	Group disposals

 

		(a)	The Company must procure that an amount equal to the Net Proceeds of any disposal of all or a material
part of the Target Shares or any disposal of all or a material part of the assets of the Target Group (the "Disposal Proceeds"),
other than disposals:

 

		(i)	made in the ordinary course of trading of the disposing entity;

 

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		(ii)	of assets in exchange for other assets (other than cash, Cash Equivalents or shares) comparable
or superior as to type, value and quality;

 

		(iii)	of cash for purposes not otherwise prohibited by the Finance Documents;

 

		(iv)	comprising any dividend or distribution not otherwise prohibited by the Finance Documents;

 

		(v)	which constitutes Security or Quasi-Security and is not prohibited under Clause 21.3 (Negative
pledge);

 

		(vi)	of obsolete or redundant assets or waste, on arm's length terms;

 

		(vii)	in respect of the Target Shares, to any member of the Group;

 

		(viii)	effected pursuant to paragraph (c) of the definition of "Permitted Disposal";

 

		(ix)	in respect of any assets other than the Target Shares, to any member of the Group;

 

		(x)	made with the prior written consent of Majority Lenders;

 

		(xi)	where the Disposal Proceeds are applied or committed to be applied towards any capital expenditure
not prohibited by the terms of this Agreement provided that the Disposal Proceeds are so applied within 6 Months of receipt; or

 

		(xii)	made pursuant to one or more sale and leaseback transactions and provided further that such disposal
is not reasonably expected to have a Material Adverse Effect,

 

are applied in full
(after deduction of the portion of such Net Proceeds required to be applied to the repayment of other existing Debt of the Company
or a Borrower) in the prepayment of Loans or the cancellation of Available Commitments at the times and in the order of application
contemplated by Clause 7.6 (Application of mandatory prepayments and cancellations).

 

		(b)	The Company shall notify the Agent immediately on receipt of any Disposal Proceeds received by
any member of the Group.

 

		7.6	Application of mandatory prepayments and cancellations

 

		(a)	A prepayment of Loans or cancellation of Available Commitments under Clause 7.4 (Refinancings)
or Clause 7.5 (Group disposals) above shall be applied in the order of application contemplated by the following order:

 

		(i)	first in prepayment of any outstanding Loans (with such amount being applied against such Loans
as may be selected by the Company (or in the absence of such selection, pro rata against the outstanding Loans)); and

 

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		(ii)	secondly, in cancellation of the Available Commitments (and the Available Commitments of the Lenders
under the Facility will be cancelled rateably).

 

Any excess Net Proceeds related to
a Financing or any excess Disposal Proceeds thereafter may be retained by the relevant member of the Group.

 

		(b)	The Company shall apply (or shall procure that the Borrowers shall apply) an amount equal to such
Net Proceeds from each Financing in prepayment and/or cancellation of the Loans and/or Available Facilities immediately upon receipt
of such Net Proceeds by any member of the Group.

 

		(c)	The Company shall apply (or shall procure that the Borrowers shall apply) an amount equal to the
Disposal Proceeds in prepayment and/or cancellation of the Loans and/or Available Facility on the earlier of: (i) the last day
of the first Interest Period to end after receipt by any member of the Group of the Disposal Proceeds of such disposal; and (ii)
the date falling one month after receipt of such Disposal Proceeds and, in the case of any cancellation, immediately on the day
of notification of the receipt of such Disposal Proceeds.

 

		7.7	Mandatory Prepayment Event

 

		(a)	Subject to paragraph (b) below, upon the occurrence of a Mandatory Prepayment Event, the Facility
will immediately be cancelled and all outstanding Utilisations, together with accrued interest, and all other amounts accrued under
the Finance Documents, shall become immediately due and payable, and the Borrower shall prepay all outstanding amounts within three
Business Days of that date.

 

		(b)	No cancellation shall occur and no prepayment shall be required to be made under paragraph (a)
above, if:

 

		(i)	the aggregate amount of the Debt that is the subject of a Mandatory Prepayment Event, when aggregated
with Debt that is the subject of a Cross Payment Default and/or Cross Acceleration (without double counting), is less than US$
100,000,000 (or its equivalent in any other currency or currencies); or

 

		(ii)	the Mandatory Prepayment Event is waived by the Majority Lenders.

 

		7.8	Voluntary cancellation

 

The
Company may, if it gives the Agent not less than ten Business Days' (or such shorter period as the Majority Lenders may agree)
prior notice, cancel the whole or any part (being a minimum amount of US$ 10,000,000) of an Available Facility. Any cancellation
under this Clause 7.8 shall reduce the Commitments of the Lenders rateably under the Facility.

 

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		7.9	Voluntary prepayment of Loans

 

The
Borrower to which a Loan has been made may, if it gives the Agent not less than ten Business Days' (or such shorter period as
the Majority Lenders may agree) prior notice, prepay the whole or any part of a Loan (but if in part, being an amount that reduces
the amount of the Loan by a minimum amount of US$ 10,000,000).

 

		7.10	Right of replacement or repayment and cancellation in relation to a single Lender

 

		(a)	If:

 

		(i)	any sum payable to any Lender by an Obligor is required to be increased under paragraph (c)
of Clause 12.2 (Tax gross-up); or

 

		(ii)	any Lender claims indemnification from the Company under
Clause 12.3 (Tax indemnity) or Clause 13.1 (Increased costs);

 

the Company may, whilst the circumstance
giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment
of that Lender and its intention to procure the repayment of that Lender's participation in the Loans or give the Agent notice
of its intention to replace that Lender in accordance with paragraph (d) below.

 

		(b)	On receipt of a notice of cancellation referred to in paragraph (a) above, the Commitment
of that Lender shall immediately be reduced to zero.

 

		(c)	On the last day of each Interest Period which ends after the Company has given notice of cancellation
under paragraph (a) above (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Loan
is outstanding shall repay that Lender's participation in that Loan.

 

		(d)	The Company may, in the circumstances set out in paragraph (a) above, on 15 Business Days'
prior notice to the Agent and that Lender, replace that Lender by requiring that Lender to (and to the extent permitted by law,
that Lender shall) transfer pursuant to Clause 23 (Changes to the Lenders) all (and not part only) of its rights and
obligations under this Agreement to a Lender or other bank, financial institution, trust, fund or other entity selected by the
Company which confirms its willingness to assume and does assume all the obligations of the transferring Lender in accordance with
Clause 23 (Changes to the Lenders) for a purchase price in cash or other cash payment payable at the time of the transfer
equal to the outstanding principal amount of such Lender's participation in the outstanding Loans and all accrued interest (to
the extent that the Agent has not given a notification under Clause 23.9 (Pro rata interest settlement)), Break Costs
and other amounts payable in relation thereto under the Finance Documents.

 

		(e)	The replacement of a Lender pursuant to paragraph (d) above shall be subject to the following
conditions:

 

		(i)	the Company shall have no right to replace the Agent in its capacity as agent of the Finance Parties;

 

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		(ii)	neither the Agent nor any Lender shall have any obligation to find a replacement Lender;

 

		(iii)	in no event shall the Lender replaced under paragraph (d) above be required to pay or surrender
any of the fees received by such Lender pursuant to the Finance Documents; and

 

		(iv)	the Lender shall only be obliged to transfer its rights and obligations pursuant to paragraph (d)
above once it is satisfied that it has complied with all necessary "know your customer" or other similar checks under
all applicable laws and regulations in relation to that transfer.

 

		(f)	A Lender shall perform the checks described in paragraph (e)(iv) above as soon as reasonably practicable
following delivery of a notice referred to in paragraph (d) above and shall notify the Agent and the Company when it is satisfied
that it has complied with those checks.

 

		7.11	Right of cancellation in relation to a Defaulting Lender

 

		(a)	If any Lender becomes a Defaulting Lender, the Company may, at any time whilst the Lender continues
to be a Defaulting Lender, give the Agent at least 10 Business Days' notice of cancellation of the Available Commitment of that
Lender.

 

		(b)	On the notice referred to in paragraph (a) above becoming effective, the Available Commitment
of the Defaulting Lender shall immediately be reduced to zero.

 

		(c)	The Agent shall as soon as practicable after receipt of a notice referred to in paragraph (a)
above, notify all the Lenders.

 

		7.12	Restrictions

 

		(a)	Any notice of cancellation or prepayment given by any Party under this Clause 7 shall be irrevocable
and, unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation
or prepayment is to be made and the amount of that cancellation or prepayment.

 

		(b)	Any prepayment under this Agreement shall be made together with accrued interest on the amount
prepaid and, subject to any Break Costs, without premium or penalty provided that no Break Costs shall payable in respect
of any amounts prepaid pursuant to Clause 7.4 (Refinancings) or Clause 7.5 (Group disposals).

 

		(c)	No Borrower may reborrow any part of the Facility which is prepaid.

 

		(d)	The Borrowers shall not repay or prepay all or any part of the Loans or cancel all or any part
of the Commitments except at the times and in the manner expressly provided for in this Agreement.

 

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		(e)	Subject to Clause 2.2 (Increase), no amount of the Total Commitments cancelled under
this Agreement may be subsequently reinstated.

 

		(f)	If the Agent receives a notice under this Clause 7 it shall promptly forward a copy of that
notice to either the Company or the affected Lender, as appropriate.

 

		(g)	If all or part of any Lender's participation in a Loan is repaid or prepaid an amount of that Lender's
Commitment (equal to the amount of the participation which is repaid or prepaid) will be deemed to be cancelled on the date of
repayment or prepayment.

 

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SECTION 5

COSTS OF UTILISATION

 

		8.	Interest

 

		8.1	Calculation of interest

 

The rate of interest on each Loan
for each Interest Period is the percentage rate per annum which is the aggregate of the applicable:

 

		(a)	Margin; and

 

		(b)	LIBOR.

 

		8.2	Payment of interest

 

The Borrower to which a Loan has
been made shall pay accrued interest on that Loan on the last day of each Interest Period (and, if the Interest Period is longer
than six Months, on the dates falling at six Monthly intervals after the first day of the Interest Period).

 

		8.3	Default interest

 

		(a)	If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest
shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate
which, subject to paragraph (b) below, is one per cent per annum higher than the rate which would have been payable if the
overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest
Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be
immediately payable by the Obligor on demand by the Agent.

 

		(b)	If any overdue amount consists of all or part of a Loan which became due on a day which was not
the last day of an Interest Period relating to that Loan:

 

		(i)	the first Interest Period for that overdue amount shall have a duration equal to the unexpired
portion of the current Interest Period relating to that Loan; and

 

		(ii)	the rate of interest applying to the overdue amount during that first Interest Period shall be
one per cent. per annum higher than the rate which would have applied if the overdue amount had not become due.

 

		(c)	Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount
at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.

 

		8.4	Notification of rates of interest

 

The Agent shall promptly notify the
Lenders and the relevant Borrower of the determination of a rate of interest under this Agreement.

 

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		9.	Interest Periods

 

		9.1	Selection of Interest Periods

 

		(a)	A Borrower (or the Company on behalf of a Borrower) may select an Interest Period for a Loan in
the Utilisation Request for that Loan or (if the Loan has already been borrowed) in a Selection Notice.

 

		(b)	Each Selection Notice for a Loan is irrevocable and must be delivered to the Agent by the Borrower
(or the Company on behalf of a Borrower) to which that Loan was made not later than the Specified Time.

 

		(c)	If a Borrower (or the Company) fails to deliver a Selection Notice to the Agent in accordance with
paragraph (b) above, the relevant Interest Period will be one Month.

 

		(d)	Subject to this Clause 9, a Borrower (or the Company on behalf of a Borrower) may select an Interest
Period of one, three or six Months or any other period agreed between the Company and the Agent (acting on the instructions of
all the Lenders in relation to the relevant Loan).

 

		(e)	An Interest Period for a Loan shall not extend beyond the Termination Date.

 

		(f)	Each Interest Period for a Loan shall start on the Utilisation Date or (if already made) on the
last day of its preceding Interest Period.

 

		9.2	Non-Business Days

 

If an Interest Period would otherwise
end on a day which is not a Business Day, that Interest Period will instead end on the next Business Day in that calendar month
(if there is one) or the preceding Business Day (if there is not).

 

		9.3	Consolidation and division of Loans

 

		(a)	Subject to paragraph (b) below, if two or more Interest Periods:

 

		(i)	relate to Loans made to the same Borrower; and

 

		(ii)	end on the same date,

 

those Loans will, unless that Borrower
(or the Company on its behalf) specifies to the contrary in the Selection Notice for the next Interest Period, be consolidated
into, and treated as, a single Loan on the last day of the Interest Period.

 

		(b)	Subject to Clause 4.4 (Maximum number of Loans) and Clause 5.3 (Currency and amount),
if a Borrower (or the Company on its behalf) requests in a Selection Notice that a Loan be divided into two or more Loans, that
Loan will, on the last day of its Interest Period, be so divided into the amounts specified in that Selection Notice, being an
aggregate amount equal to the amount of the Loan immediately before its division.

 

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		10.	Changes to the Calculation of Interest

 

		10.1	Absence of quotations

 

Subject to Clause 10.2 (Market
disruption), if LIBOR is to be determined by reference to the Reference Banks but a Reference Bank does not supply a quotation
by the Specified Time on the Quotation Day, the applicable LIBOR shall be determined on the basis of the quotations of the remaining
Reference Banks.

 

		10.2	Market disruption

 

		(a)	If a Market Disruption Event occurs in relation to a Loan for any Interest Period, then the rate
of interest on each Lender's share of that Loan for the Interest Period shall be the percentage rate per annum which is the sum
of:

 

		(i)	the Margin; and

 

		(ii)	the rate notified to the Agent by that Lender as soon as practicable and in any event before interest
is due to be paid in respect of that Interest Period, to be that which expresses as a percentage rate per annum the cost to that
Lender of funding its participation in that Loan from whatever source it may reasonably select.

 

		(b)	In this Agreement "Market Disruption Event" means:

 

		(i)	at or about noon on the Quotation Day for the relevant Interest Period LIBOR is to be determined
by reference to the Reference Banks and none or only one of the Reference Banks supplies a rate to the Agent to determine LIBOR
for the relevant currency and the relevant Interest Period; or

 

		(ii)	before close of business in London on the Quotation Day for the relevant Interest Period, the Agent
receives notifications from a Lender or Lenders (whose participations in a Loan exceed 35 per cent. of that Loan) that the cost
to it of obtaining matching deposits in the Relevant Interbank Market would be in excess of LIBOR.

 

		10.3	Alternative basis of interest or funding

 

		(a)	If a Market Disruption Event occurs and the Agent or the Company so requires, the Agent and the
Company shall enter into negotiations (for a period of not more than thirty days) with a view to agreeing a substitute basis for
determining the rate of interest.

 

		(b)	Any alternative basis agreed pursuant to paragraph (a) above shall, with the prior consent
of all the Lenders and the Company, be binding on all Parties.

 

		10.4	Break Costs

 

		(a)	Each Borrower shall, within three Business Days of demand by a Finance Party, pay to that Finance
Party its Break Costs attributable to all or any part of a Loan or Unpaid Sum being paid by that Borrower on a day other than the
last day of an Interest Period for that Loan or Unpaid Sum.

 

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		(b)	Each Lender shall, as soon as reasonably practicable after a demand by the Agent, provide a certificate
confirming the amount of its Break Costs for any Interest Period in which they accrue.

 

		11.	Fees

 

		11.1	Commitment fee

 

The Company shall pay to the Agent
(for the account of each Lender) a commitment fee in the amount and at the times agreed in a Fee Letter.

 

		11.2	Duration fee

 

The Company shall pay to the Agent
(for the account of each Lender) a participation fee in the amount and at the times agreed in a Fee Letter.

 

		11.3	Funding fee

 

The
Company shall pay to the Agent (for the account of each Lender) a utilisation fee in the amount and at the times agreed in a Fee
Letter.

 

		11.4	Agency fee

 

The Company shall pay to the Agent
(for its own account) an agency fee in the amount and at the times agreed in a Fee Letter.

 

		11.5	Extension fee

 

		(a)	If the Company has delivered an Extension Option Notice under and in accordance with Clause 6.2
(Extension option), the Company shall, on or prior to the Original Termination Date, pay to the Agent (for the account of
each Lender), an extension fee in an amount equal to 0.50 per cent. of the Total Commitments as at the original Termination Date
(the "Extension Fee").

 

		(b)	The Agent shall submit an invoice to the Company no less than five Business Days prior to the Original
Termination Date for payment of the Extension Fee.

 

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SECTION 6

ADDITIONAL PAYMENT OBLIGATIONS

 

		12.	Tax Gross Up and Indemnities

 

		12.1	Definitions

 

		(a)	In this Agreement:

 

"Protected Party"
means a Finance Party which is or will be subject to any liability, or required to make any payment, for or on account of Tax in
relation to a sum received or receivable (or any sum deemed for the purposes of Tax to be received or receivable) under a Finance
Document.

 

"Tax Credit" means
a credit against, relief or remission for, or repayment of any Tax.

 

"Tax Deduction" means
a deduction or withholding for or on account of Tax from a payment under a Finance Document, other than a FATCA Deduction.

 

"Tax Payment" means
either the increase in a payment made by an Obligor to a Finance Party under Clause 12.2 (Tax gross-up) or a payment
under Clause 12.3 (Tax indemnity).

 

		(b)	Unless a contrary indication appears, in this Clause 12 a reference to "determines"
or "determined" means a determination made in the absolute discretion of the person making the determination.

 

		12.2	Tax gross-up

 

		(a)	Each Obligor shall make all payments to be made by it without any Tax Deduction, unless a Tax Deduction
is required by law.

 

		(b)	The Company shall promptly upon becoming aware that an Obligor must make a Tax Deduction (or that
there is any change in the rate or the basis of a Tax Deduction) notify the Agent accordingly. Similarly, a Lender shall notify
the Agent on becoming so aware in respect of a payment payable to that Lender. If the Agent receives such notification from a Lender
it shall notify the Company and that Obligor.

 

		(c)	If a Tax Deduction is required by law to be made by an Obligor, the amount of the payment due from
that Obligor shall be increased to an amount which (after making any Tax Deduction) leaves an amount equal to the payment which
would have been due if no Tax Deduction had been required

 

		(d)	If an Obligor is required to make a Tax Deduction, that Obligor shall make that Tax Deduction and
any payment required in connection with that Tax Deduction within the time allowed and in the minimum amount required by law.

 

		(e)	Within thirty days of making either a Tax Deduction or any payment required in connection with
that Tax Deduction, the Obligor making that Tax Deduction shall deliver to the Agent for the Finance Party entitled to the payment
a statement under section 975 of the ITA or other evidence reasonably satisfactory to that Finance Party that the Tax Deduction
has been made or (as applicable) any appropriate payment paid to the relevant taxing authority.

 

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		12.3	Tax indemnity

 

		(a)	The Company shall (within three Business Days of demand by the Agent) pay to a Protected Party
an amount equal to the loss, liability or cost which that Protected Party determines will be or has been (directly or indirectly)
suffered for or on account of Tax by that Protected Party in respect of a Finance Document.

 

		(b)	Paragraph (a) above shall not apply:

 

		(i)	with respect to any Tax assessed on a Finance Party:

 

		(A)	under the law of the jurisdiction in which that Finance Party is incorporated or, if different,
the jurisdiction (or jurisdictions) in which that Finance Party is treated as resident for tax purposes; or

 

		(B)	under the law of the jurisdiction in which that Finance Party's Facility Office is located in respect
of amounts received or receivable in that jurisdiction,

 

if that Tax is imposed on or calculated
by reference to the net income received or receivable (but not any sum deemed to be received or receivable) by that Finance Party;
or

 

		(ii)	to the extent a loss, liability or cost:

 

		(A)	is compensated for by an increased payment under Clause 12.2 (Tax gross-up);

 

		(B)	relates to a FATCA Deduction required to be made by a Party.

 

		(c)	A Protected Party making, or intending to make a claim under paragraph (a) above shall promptly
notify the Agent of the event which will give, or has given, rise to the claim, following which the Agent shall notify the Company.

 

		(d)	A Protected Party shall, on receiving a payment from an Obligor under this Clause 12.3, notify
the Agent.

 

		12.4	Tax Credit

 

If an Obligor makes a Tax Payment
and the relevant Finance Party determines that:

 

		(a)	a Tax Credit is attributable to an increased payment of which that Tax Payment forms part, to that
Tax Payment or to a Tax Deduction in consequence of which that Tax Payment was required; and

 

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		(b)	that Finance Party has obtained and utilised that Tax Credit,

 

the Finance Party shall pay an amount
to the Obligor which that Finance Party determines will leave it (after that payment) in the same after-Tax position as it would
have been in had the Tax Payment not been required to be made by the Obligor.

 

		12.5	Stamp taxes

 

The Company shall pay and, within
three Business Days of demand, indemnify each Finance Party against any cost, loss or liability that Finance Party incurs in relation
to all stamp duty, registration and other similar Taxes payable in respect of any Finance Document.

 

		12.6	VAT

 

		(a)	All amounts expressed to be payable under a Finance Document by any Party to a Finance Party which
(in whole or in part) constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT which
is chargeable on that supply, and accordingly, subject to paragraph (b) below, if VAT is or becomes chargeable on any supply
made by any Finance Party to any Party under a Finance Document and such Finance Party is required to account to the relevant tax
authority for the VAT, that Party must pay to such Finance Party (in addition to and at the same time as paying any other consideration
for such supply) an amount equal to the amount of the VAT (and such Finance Party must promptly provide an appropriate VAT invoice
to that Party) or, where applicable, directly account for such VAT at the appropriate rate under the reverse charge procedure provided
for by the Council Directive 2006/112/EC on the common system of value added tax, as amended, and any relevant VAT provision of
the jurisdiction in which the Party receives such supply.

 

		(b)	If VAT is or becomes chargeable on any supply made by any Finance Party (the "Supplier")
to any other Finance Party (the "Recipient") under a Finance Document, and any Party other than the Recipient
(the "Relevant Party") is required by the terms of any Finance Document to pay an amount equal to the consideration
for that supply to the Supplier (rather than being required to reimburse or indemnify the Recipient in respect of that consideration):

 

		(i)	(where the Supplier is the person required to account to the relevant tax authority for the VAT)
the Relevant Party must also pay to the Supplier (at the same time as paying that amount) an additional amount equal to the amount
of the VAT. The Recipient must (where this paragraph (i) applies) promptly pay to the Relevant Party an amount equal to any
credit or repayment the Recipient receives from the relevant tax authority which the Recipient reasonably determines relates to
the VAT chargeable on that supply; and

 

		(ii)	(where the Recipient is the person required to account to the relevant tax authority for the VAT)
the Relevant Party must promptly, following demand from the Recipient, pay to the Recipient an amount equal to the VAT chargeable
on that supply but only to the extent that the Recipient reasonably determines that it is not entitled to credit or repayment from
the relevant tax authority in respect of that VAT.

 

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		(c)	Where a Finance Document requires any Party to reimburse or indemnify a Finance Party for any cost
or expense, that Party shall reimburse or indemnify (as the case may be) such Finance Party for the full amount of such cost or
expense, including such part thereof as represents VAT, save to the extent that such Finance Party reasonably determines that it
is entitled to credit or repayment in respect of such VAT from the relevant tax authority.

 

		(d)	Any reference in this Clause 12.6 to any Party shall, at any time when such Party is treated
as a member of a group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the
representative member of such group at such time (the term "representative member" to have the same meaning as in the
Value Added Tax Act 1994).

 

		(e)	In relation to any supply made by a Finance Party to any Party under a Finance Document, if reasonably
requested by such Finance Party, that Party must promptly provide such Finance Party with details of that Party's VAT registration
and such other information as is reasonably requested in connection with such Finance Party's VAT reporting requirements in relation
to such supply.

 

		12.7	FATCA Information

 

		(a)	Subject to paragraph (c) below, each Party shall, within ten Business Days of a reasonable
request by another Party:

 

		(i)	confirm to that other Party whether it is:

 

		(A)	a FATCA Exempt Party; or

 

		(B)	not a FATCA Exempt Party; and

 

		(ii)	supply to that other Party such forms, documentation and other information relating to its status
under FATCA (including its applicable "passthru payment percentage" or other information required under the US Treasury
Regulations or other official guidance including intergovernmental agreements) as that other Party reasonably requests for the
purposes of that other Party's compliance with FATCA.

 

		(b)	If a Party confirms to another Party pursuant to paragraph (a)(i) above that it is a FATCA
Exempt Party and it subsequently becomes aware that it is not, or has ceased to be a FATCA Exempt Party, that Party shall notify
that other Party reasonably promptly.

 

		(c)	Paragraph (a) above shall not oblige any Finance Party to do anything which would or might
in its reasonable opinion constitute a breach of:

 

		(i)	any law or regulation;

 

		(ii)	any fiduciary duty; or

 

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		(iii)	any duty of confidentiality.

 

		(d)	If a Party fails to confirm its status or to supply forms, documentation or other information requested
in accordance with paragraph (a) above (including, for the avoidance of doubt, where paragraph (c) above applies), then:

 

		(i)	if that Party failed to confirm whether it is (and/or remains) a FATCA Exempt Party then such Party
shall be treated for the purposes of the Finance Documents as if it is not a FATCA Exempt Party; and

 

		(ii)	if that Party failed to confirm its applicable "passthru payment percentage" then such
Party shall be treated for the purposes of the Finance Documents (and payments made thereunder) as if its applicable "passthru
payment percentage" is 100%,

 

until (in each
case) such time as the Party in question provides the requested confirmation, forms, documentation or other information.

 

		(e)	If a Borrower is a US Tax Obligor, or where the Agent reasonably believes that its obligations
under FATCA require it, each Lender shall, within ten Business Days of:

 

		(i)	where a Borrower is a US Tax Obligor and the relevant Lender is an Original Lender, the date of
this Agreement;

 

		(ii)	where a Borrower is a US Tax Obligor and the relevant Lender is a New Lender, the relevant Transfer
Date;

 

		(iii)	the date a new US Tax Obligor accedes as a Borrower; or

 

		(iv)	where the Borrower is not a US Tax Obligor, the date of a request from the Agent,

 

supply to the Agent:

 

		(v)	a withholding certificate on Form W-8 or Form W-9 (or any successor form) (as applicable); or

 

		(vi)	any withholding statement and other documentation, authorisations and waivers as the Agent may
require to certify or establish the status of such Lender under FATCA.

 

The Agent shall provide any withholding
certificate, withholding statement, documentation, authorisations and waivers it receives from a Lender pursuant to this paragraph (e)
to the Borrower and shall be entitled to rely on any such withholding certificate, withholding statement, documentation, authorisations
and waivers provided without further verification. The Agent shall not be liable for any action taken by it under or in connection
with this paragraph (e).

 

		(f)	Each
                                         Lender agrees that if any withholding certificate, withholding statement, documentation,
                                         authorisations and waivers provided to the Agent pursuant to paragraph (e) above
                                         is or becomes materially inaccurate or incomplete, it shall promptly update such withholding
                                         certificate, withholding statement, documentation, authorisations and waivers or promptly
                                         notify the Agent in writing of its legal inability to do so. The Agent shall provide
                                         any such updated withholding certificate, withholding statement, documentation, authorisations
                                         and waivers to the Borrower. The Agent shall not be liable for any action taken by it
                                         under or in connection with this paragraph (f).

 

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		12.8	FATCA Deduction

 

		(a)	Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required
in connection with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it makes such
a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction.

 

		(b)	Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there
is any change in the rate or the basis of such FATCA Deduction) notify the Party to whom it is making the payment and, in addition,
shall notify the Company, the Agent and the other Finance Parties.

 

		13.	Increased Costs

 

		13.1	Increased costs

 

		(a)	Subject to Clause 13.3 (Exceptions) the Company shall, within three Business Days of
a demand by the Agent, pay for the account of a Finance Party the amount of any Increased Costs incurred by that Finance Party
or any of its Affiliates as a result of:

 

		(i)	the introduction of or any change in (or in the interpretation, administration or application of)
any law or regulation after the date of this Agreement;

 

		(ii)	compliance with any law or regulation made after the date of this Agreement; or

 

		(iii)	the implementation or application of, or compliance with, Basel III or CRD IV or any law or regulation
that implements or applies Basel III or CRD IV, to the extent such Increased Costs were not capable of being calculated with sufficient
accuracy prior to the date of this Agreement.

 

		(b)	In this Agreement:

 

		(i)	"Increased Costs" means:

 

		(A)	a reduction in the rate of return from the Facility or on a Finance Party's (or its Affiliate's)
overall capital;

 

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		(B)	an additional or increased cost; or

 

		(C)	a reduction of any amount due and payable under any Finance Document,

 

which is incurred or suffered by
a Finance Party or any of its Affiliates to the extent that it is attributable to that Finance Party having entered into its Commitment
or funding or performing its obligations under any Finance Document; and

 

		(ii)	"Basel III" means:

 

		(A)	the agreements on capital requirements, a leverage ratio and liquidity standards contained in "Basel
III: A global regulatory framework for more resilient banks and banking systems", "Basel III: International framework
for liquidity risk measurement, standards and monitoring" and "Guidance for national authorities operating the countercyclical
capital buffer" published by the Basel Committee on Banking Supervision in December 2010, each as amended, supplemented or
restated;

 

		(B)	the rules for global systemically important banks contained in "Global systemically important
banks: assessment methodology and the additional loss absorbency requirement – Rules text" published by the Basel Committee
on Banking Supervision in November 2011, as amended, supplemented or restated; and

 

		(C)	any further guidance or standards published by the Basel Committee on Banking Supervision relating
to "Basel III"; and

 

		(iii)	"CRD IV" means:

 

		(A)	Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential
requirements for credit institutions and investment firms; and

 

		(B)	Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to
the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive
2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC.

 

		13.2	Increased cost claims

 

		(a)	A Finance Party intending to make a claim pursuant to Clause 13.1 (Increased costs)
shall notify the Agent of the event giving rise to the claim, following which the Agent shall promptly notify the Company.

 

		(b)	Each Finance Party shall, as soon as practicable after a demand by the Agent, provide a certificate
confirming the amount of its Increased Costs.

 

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		13.3	Exceptions

 

		(a)	Clause 13.1 (Increased costs) does not apply to the extent any Increased Cost is:

 

		(i)	attributable to a Tax Deduction required by law to be made by an Obligor;

 

		(ii)	attributable to a FATCA Deduction required to be made by a Party;

 

		(iii)	compensated for by Clause 12.3 (Tax indemnity) (or would have been compensated for
under Clause 12.3 (Tax indemnity) but was not so compensated solely because any of the exclusions in paragraph (b)
of Clause 12.3 (Tax indemnity) applied); or

 

		(iv)	attributable to the wilful breach by the relevant Finance Party or its Affiliates of any law or
regulation.

 

		(b)	In this Clause 13.3, a reference to a "Tax Deduction" has the same meaning
given to the term in Clause 12.1 (Definitions).

 

		14.	Other Indemnities

 

		14.1	Currency indemnity

 

		(a)	If any sum due from an Obligor under the Finance Documents (a "Sum"), or any order,
judgment or award given or made in relation to a Sum, has to be converted from the currency (the "First Currency")
in which that Sum is payable into another currency (the "Second Currency") for the purpose of:

 

		(i)	making or filing a claim or proof against that Obligor;

 

		(ii)	obtaining or enforcing an order, judgment or award in relation to any litigation or arbitration
proceedings,

 

that Obligor shall as an independent
obligation, within three Business Days of demand, indemnify each Finance Party to whom that Sum is due against any cost, loss or
liability arising out of or as a result of the conversion including any discrepancy between (A) the rate of exchange used to convert
that Sum from the First Currency into the Second Currency and (B) the rate or rates of exchange available to that person at the
time of its receipt of that Sum.

 

		(b)	Each Obligor waives any right it may have in any jurisdiction to pay any amount under the Finance
Documents in a currency or currency unit other than that in which it is expressed to be payable.

 

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		14.2	Other indemnities

 

The Company shall (or shall procure
that an Obligor will), within three Business Days of demand, indemnify each Finance Party against any cost, loss or liability incurred
by that Finance Party as a result of:

 

		(a)	the occurrence of any Event of Default;

 

		(b)	a failure by an Obligor to pay any amount due under a Finance Document on its due date, including
without limitation, any cost, loss or liability arising as a result of Clause 27 (Sharing among the Finance Parties);

 

		(c)	funding, or making arrangements to fund, its participation in a Loan requested by a Borrower in
a Utilisation Request but not made by reason of the operation of any one or more of the provisions of this Agreement (other than
by reason of default or negligence by that Finance Party alone); or

 

		(d)	a Loan (or part of a Loan) not being prepaid in accordance with a notice of prepayment given by
a Borrower or the Company.

 

		14.3	Indemnity to the Agent

 

The Company shall
promptly indemnify the Agent against:

 

		(a)	any cost, loss or liability incurred by the Agent (acting reasonably) as a result of:

 

		(i)	investigating any event which it reasonably believes is a Default, provided that the Agent
shall provide the Company with prior written notice thereof; or

 

		(ii)	acting or relying on any notice, request or instruction which it reasonably believes to be genuine,
correct and appropriately authorised.

 

		14.4	Acquisition indemnity

 

The Company shall within three Business
Days of demand indemnify each Finance Party, each Affiliate of a Finance Party and each officer or employee of a Finance Party
or its Affiliate, against any cost, loss or liability incurred by that Finance Party or its Affiliate (or officer or employee of
that Finance Party or Affiliate) solely in its capacity as a Finance Party, an Affiliate of that Finance Party or any of their
respective employees or officers in connection with or arising out of the Acquisition or the funding of the Acquisition (including
but not limited to those incurred in connection with any litigation, arbitration or administrative proceedings or regulatory enquiry
concerning the Acquisition), unless such loss or liability is caused by the gross negligence or wilful misconduct of that Finance
Party or its Affiliate (or employee or officer of that Finance Party or Affiliate), provided that the foregoing indemnity shall
not apply to any cost, loss or liability incurred by a Finance Party, an Affiliate of a Finance Party or any of their respective
employees or officers arising from or relating to the involvement of that Finance Party, any of its Affiliates or their respective
employees or officers in the Acquisition or the funding of the Acquisition in any other capacity, including without limitation
as a financial or other advisor to any party to the Acquisition and any of their respective Affiliates. Any Affiliate or any
officer or employee of a Finance Party or its Affiliate may rely on this Clause 14.4 subject to Clause 1.4 (Third
party rights) and the provisions of the Third Parties Act.

 

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		15.	Mitigation by the Lenders

 

		15.1	Mitigation

 

		(a)	Each Finance Party shall, in consultation with the Company, take all reasonable steps to mitigate
any circumstances which arise and which would result in any amount becoming payable under or pursuant to, or cancelled pursuant
to, any of Clause 7.1 (Illegality), Clause 12 (Tax gross-up and indemnities), or Clause 13 (Increased
costs) including (but not limited to) transferring its rights and obligations under the Finance Documents to another Affiliate
or Facility Office.

 

		(b)	Paragraph (a) above does not in any way limit the obligations of any Obligor under the Finance
Documents.

 

		15.2	Limitation of liability

 

		(a)	The Company shall promptly indemnify each Finance Party for all costs and expenses reasonably incurred
by that Finance Party as a result of steps taken by it under Clause 15.1 (Mitigation).

 

		(b)	A Finance Party is not obliged to take any steps under Clause 15.1 (Mitigation) if,
in the opinion of that Finance Party (acting reasonably), to do so might be prejudicial to it.

 

		16.	Costs and Expenses

 

		16.1	Transaction expenses

 

		(a)	Subject to paragraph (b) below, the Company shall promptly, and in any event within 30 Business
Days of, written demand pay the Agent and the Arranger the amount of all documented costs and expenses (including legal fees, up
to the limit of an agreed amount) reasonably incurred by any of them in connection with the negotiation, preparation, printing,
execution and syndication of:

 

		(i)	this Agreement and any other documents referred to in this Agreement; and

 

		(ii)	any other Finance Documents executed after the date of this Agreement.

 

		(b)	Cost and expenses other than legal fees, incurred by the Agent and the Arranger, in an amount in
excess of:

 

		(i)	US$ 15,000, individually; or

 

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		(ii)	US$ 30,000 in the aggregate (or its equivalent in any currency or currencies);

 

shall be reimbursed by the Company
in accordance with paragraph (a) above, only if such costs and expenses were incurred with the prior consent of the Company.

 

		16.2	Amendment costs

 

If (a) an Obligor requests an amendment,
waiver or consent or (b) an amendment is required pursuant to Clause 28.10 (Change of currency), the Company shall,
within three Business Days of demand, reimburse the Agent for the amount of all documented costs and expenses (including legal
fees), in each case up to the limit of an agreed amount (provided that the Agent shall not be obliged to take any action
pursuant to this Clause 16.2 in the absence of any such agreement), reasonably incurred by the Agent in responding to, evaluating,
negotiating or complying with that request or requirement.

 

		16.3	Enforcement costs

 

The Company shall, within three Business
Days of demand, pay to each Finance Party the amount of all documented costs and expenses (including legal fees) incurred by it
in connection with the enforcement of, or the preservation of any rights under, any Finance Document.

 

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SECTION 7

GUARANTEE

 

		17.	Guarantee and Indemnity

 

		17.1	Guarantee and indemnity

 

The Guarantor irrevocably and unconditionally:

 

		(a)	guarantees to each Finance Party punctual performance by each Borrower of all that Borrower's obligations
under the Finance Documents;

 

		(b)	undertakes with each Finance Party that whenever a Borrower does not pay any amount when due under
or in connection with any Finance Document, the Guarantor shall immediately on demand pay that amount as if it was the principal
obligor; and

 

		(c)	agrees with each Finance Party that if any obligation guaranteed by it is or becomes unenforceable,
invalid or illegal it will, as an independent and primary obligation, indemnify that Finance Party immediately on demand against
any cost, loss or liability it incurs as a result of a Borrower not paying any amount which would, but for such unenforceability,
invalidity or illegality, have been payable by it under any Finance Document on the date when it would have been due. The amount
payable by the Guarantor under this indemnity will not exceed the amount it would have had to pay under this Clause 17 if
the amount claimed had been recoverable on the basis of a guarantee.

 

		17.2	Continuing guarantee

 

This guarantee is a continuing guarantee
and will extend to the ultimate balance of sums payable by any Borrower under the Finance Documents, regardless of any intermediate
payment or discharge in whole or in part.

 

		17.3	Reinstatement

 

If any discharge, release or arrangement
(whether in respect of the obligations of any Obligor or any security for those obligations or otherwise) is made by a Finance
Party in whole or in part on the basis of any payment, security or other disposition which is avoided or must be restored in insolvency,
liquidation, administration or otherwise, without limitation, then the liability of the Guarantor under this Clause 17 will
continue or be reinstated as if the discharge, release or arrangement had not occurred.

 

		17.4	Waiver of defences

 

The obligations of the Guarantor
under this Clause 17 will not be affected by any act, omission, matter or thing which, but for this Clause, would reduce,
release or prejudice any of its obligations under this Clause 17 (without limitation and whether or not known to it or any
Finance Party) including:

 

		(a)	any time, waiver or consent granted to, or composition with, any Obligor or other person;

 

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		(b)	the release of any other Obligor or any other person under the terms of any composition or arrangement
with any creditor of any member of the Group;

 

		(c)	the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect,
take up or enforce, any rights against, or security over assets of, any Obligor or other person or any non-presentation or non-observance
of any formality or other requirement in respect of any instrument or any failure to realise the full value of any security;

 

		(d)	any incapacity or lack of power, authority or legal personality of or dissolution or change in
the members or status of an Obligor or any other person;

 

		(e)	any amendment, novation, supplement, extension or restatement (however fundamental and whether
or not more onerous) or replacement of a Finance Document or any other document or security including without limitation any change
in the purpose of, any extension of, or any increase in, any facility or the addition of any new facility under any Finance Document
or other document;

 

		(f)	any unenforceability, illegality or invalidity of any obligation of any person under any Finance
Document or any other document or security; or

 

		(g)	any insolvency or similar proceedings.

 

		17.5	Immediate recourse

 

The Guarantor waives any right it
may have of first requiring any Finance Party (or any trustee or agent on its behalf) to proceed against or enforce any other rights
or security or claim payment from any person before claiming from the Guarantor under this Clause 17. This waiver applies
irrespective of any law or any provision of a Finance Document to the contrary.

 

		17.6	Appropriations

 

Until all amounts which may be or
become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full, each Finance
Party (or any trustee or agent on its behalf) may:

 

		(a)	refrain from applying or enforcing any other moneys, security or rights held or received by that
Finance Party (or any trustee or agent on its behalf) in respect of those amounts, or apply and enforce the same in such manner
and order as it sees fit (whether against those amounts or otherwise) and the Guarantor shall not be entitled to the benefit of
the same; and

 

		(b)	hold in an interest-bearing suspense account any moneys received from the Guarantor or on account
of the Guarantor's liability under this Clause 17.

 

		17.7	Deferral of Guarantor's rights

 

Until all amounts which may be or
become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full and unless
the Agent otherwise directs, the Guarantor will not exercise any rights which it may have by reason of performance by it of its
obligations under the Finance Documents or by reason of any amount being payable, or liability arising, under this Clause 17:

 

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		(a)	to be indemnified by an Obligor;

 

		(b)	to claim any contribution from any other guarantor of any Obligor's obligations under the Finance
Documents;

 

		(c)	to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any
rights of the Finance Parties under the Finance Documents or of any other guarantee or security taken pursuant to, or in connection
with, the Finance Documents by any Finance Party;

 

		(d)	to bring legal or other proceedings for an order requiring any Obligor to make any payment, or
perform any obligation, in respect of which the Guarantor has given a guarantee, undertaking or indemnity under Clause 17.1
(Guarantee and Indemnity);

 

		(e)	to exercise any right of set-off against any Obligor; and/or

 

		(f)	to claim or prove as a creditor of any Obligor in competition with any Finance Party.

 

If the Guarantor receives any benefit,
payment or distribution in relation to such rights it shall hold that benefit, payment or distribution to the extent necessary
to enable all amounts which may be or become payable to the Finance Parties by the Obligors under or in connection with the Finance
Documents to be repaid in full on trust for the Finance Parties and shall promptly pay or transfer the same to the Agent or as
the Agent may direct for application in accordance with Clause 28 (Payment mechanics).

 

		17.8	Additional security

 

This guarantee is in addition to
and is not in any way prejudiced by any other guarantee or security now or subsequently held by any Finance Party.

 

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SECTION 8

REPRESENTATIONS, UNDERTAKINGS AND EVENTS
OF DEFAULT

 

		18.	Representations

 

Each Obligor makes the representations
and warranties set out in this Clause 18 to each Finance Party on the date of this Agreement.

 

		18.1	Status

 

		(a)	It is a corporation, duly incorporated and validly existing under the law of its jurisdiction of
incorporation.

 

		(b)	It and each of its Subsidiaries has the power to own its assets and carry on its business as it
is being conducted.

 

		18.2	Binding obligations

 

The obligations expressed to be assumed
by it in each Finance Document are, subject to any general principles of law limiting its obligations which are specifically referred
to in any legal opinion delivered pursuant to Clause 4 (Conditions of Utilisation) or Clause 24 (Changes to
the Obligors), (the "Legal Reservations"), legal, valid, binding and enforceable obligations.

 

		18.3	Non-conflict with other obligations

 

The entry into and performance by
it of, and the transactions contemplated by, the Finance Documents do not and will not conflict with:

 

		(a)	any law or regulation applicable to it;

 

		(b)	its or any of its Subsidiaries' constitutional documents; or

 

		(c)	any agreement or instrument binding upon it or any of its Subsidiaries or any of its or any of
its Subsidiaries' assets which has or could reasonably be expected to have a Material Adverse Effect.

 

		18.4	Power and authority

 

It has the power to enter into, perform
and deliver, and has taken all necessary action to authorise its entry into, performance and delivery of, the Finance Documents
to which it is a party and the transactions contemplated by those Finance Documents.

 

		18.5	Validity and admissibility in evidence

 

All Authorisations required or desirable:

 

		(a)	to enable it lawfully to enter into, exercise its rights and comply with its obligations in the
Finance Documents to which it is a party; and

 

		(b)	to make the Finance Documents to which it is a party admissible in evidence in its jurisdiction
of incorporation,

 

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have been obtained or effected and
are in full force and effect.

 

		18.6	Governing law and enforcement

 

		(a)	Subject to the Legal Reservations, the choice of English law as the governing law of the Finance
Documents will be recognised and enforced in its jurisdiction of incorporation.

 

		(b)	Subject to the Legal Reservations, any judgment obtained in England in relation to a Finance Document
will be recognised and enforced in its jurisdiction of incorporation.

 

		18.7	Insolvency

 

No:

 

		(a)	corporate action, legal proceeding or other procedure or step described in paragraph (a) of
Clause 22.7(Insolvency proceedings); or

 

		(b)	creditors' process described in Clause 22.8 (Creditors' process),

 

has been taken or, to the knowledge
of the Company, threatened in relation to a Material Company, and none of the circumstances described in Clause 22.6 (Insolvency)
applies to a Material Company.

 

		18.8	Deduction of Tax

 

It is not required to make any deduction
for or on account of Tax from any payment it may make under any Finance Document.

 

		18.9	No filing or stamp taxes

 

Under the law of its jurisdiction
of incorporation it is not necessary that the Finance Documents be filed, recorded or enrolled with any court or other authority
in that jurisdiction or that any stamp, registration or similar tax be paid on or in relation to the Finance Documents or the transactions
contemplated by the Finance Documents.

 

		18.10	No default

 

		(a)	No Event of Default is continuing or might reasonably be expected to result from the making of
any Utilisation.

 

		(b)	No other event or circumstance is outstanding which constitutes a default under any other agreement
or instrument which is binding on it or on any Significant Subsidiary, or to which its (or any Significant Subsidiary's) assets
are subject which might have a Material Adverse Effect.

 

		18.11	No misleading information

 

		(a)	All material information provided to the Arrangers in writing by the Company relating to the Acquisition
(excluding the confidential information memorandum prepared by the Sellers for the purposes of the Acquisition and any information
provided to an Arranger in any capacity other than as an Arranger or a Lender in relation to the Facility, including without limitation
as a financial or other advisor to the Company, any other member of the Group or any member of the Target Group) is accurate in
all material respects and not misleading in any material respect.

 

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		(b)	Any factual information contained in the Annual Report was true and accurate in all material respects
as at the date it was provided or as at the date (if any) at which it is stated.

 

		(c)	Nothing has occurred or been omitted from the Annual Report and no information has been given or
withheld that results in the information contained in the Annual Report being untrue or misleading in any material respect, in
each case as at the date it was provided or as at the date (if any) at which it is stated.

 

		18.12	Financial statements

 

		(a)	Its Original Financial Statements were prepared in accordance with IFRS consistently applied.

 

		(b)	Its Original Financial Statements fairly represent its financial condition and operations (consolidated
in the case of the Company) during the relevant Financial Year.

 

		(c)	There has been no material adverse change in its business or financial condition (or the business
or consolidated financial condition of the Group, in the case of the Company) since the date of the most recent financial statements
delivered pursuant to Clause 19.1 (Financial statements).

 

		18.13	Pari passu ranking

 

Its payment obligations under the
Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except
for obligations mandatorily preferred by law applying to companies generally.

 

		18.14	No proceedings

 

Save as disclosed in the Original
Financial Statements or relating to a Disclosed Investigation, no litigation, arbitration or administrative proceedings of or before
any court, arbitral body or agency which, if adversely determined, are reasonably likely to have a Material Adverse Effect have
(to the best of its knowledge and belief) been started or threatened against it or any of its Subsidiaries.

 

		18.15	Environmental compliance

 

Each Obligor and Significant Subsidiary
has performed and observed in all material respects all Environmental Law, Environmental Permits and all other material covenants,
conditions, restrictions or agreements directly or indirectly concerned with any contamination, pollution or waste or the release
or discharge of any toxic or hazardous substance in connection with any real property which is or was at any time owned, leased
or occupied by any Obligor or Significant Subsidiary or on which any Obligor or Significant Subsidiary has conducted any activity
where failure to do so might reasonably be expected to have a Material Adverse Effect.

 

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		18.16	Taxation

 

		(a)	Except for any Permitted Tax Non-Payments, it has duly and punctually paid and discharged all Taxes
imposed upon it or its assets within the time period allowed.

 

		(b)	It is not materially overdue in the filing of any Tax returns.

 

		(c)	No claims are being or are reasonably likely to be asserted against it with respect to Taxes that
could reasonably be expected to have a Material Adverse Effect.

 

		18.17	Anti-corruption, anti-bribery and anti-money laundering laws and regulations

 

Save for any Disclosed Investigation,
no Obligor, and no Subsidiary, director or officer of any Obligor and, to the best of its knowledge and belief, no Affiliate, has
engaged in any activity or conducted its businesses in any way which would violate any applicable anti-corruption, anti-bribery
or anti-money laundering laws or regulations and each Obligor has instituted and maintains policies and procedures designed to
promote and achieve compliance with such laws and regulations.

 

		18.18	Sanctions

 

Each Obligor represents in respect
of itself and in respect of its Subsidiaries, directors and officers that:

 

		(a)	it is not the subject of any Sanctions; and

 

		(b)	it is not violating any Sanctions,

 

in either case applicable to it,
provided that, this representation and warranty shall not be deemed to be made to or for the benefit of any Finance Party
or any director, officer or employee thereof to the extent that this provision would expose that Finance Party or any director,
officer or employee thereof to any liability under any applicable anti-boycott law, regulation or statute.

 

		18.19	Intellectual Property

 

It and each of its Subsidiaries:

 

		(a)	is the sole legal and beneficial owner of or has licensed to it on normal commercial terms all
the Intellectual Property which is material in the context of its business and which is required by it in order to carry on its
business as it is being conducted;

 

		(b)	does not (nor does any of its Subsidiaries), in carrying on its businesses, infringe any Intellectual
Property of any third party; and

 

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		(c)	has taken all formal or procedural actions (including payment of fees) required to maintain any
material Intellectual Property owned by it,

 

save, in each case, where failure
to be so or to do so or to have done or does not and is not reasonably likely to have a Material Adverse Effect.

 

		18.20	Acquisition arrangements

 

Each Obligor represents in respect
of itself and the Purchaser that:

 

		(a)	it has complied in all material respects with applicable laws and regulations in relation to the
Acquisition.

 

		(b)	the performance by it of, and the transactions contemplated by, the Acquisition Documents do not
and will not conflict with:

 

		(i)	any law or regulation applicable to it;

 

		(ii)	its constitutional documents; or

 

		(iii)	any agreement or instrument binding upon it or any of its assets.

 

		(c)	the obligations expressed to be assumed by the Purchaser in each Acquisition Document are legal,
valid, binding and enforceable obligations.

 

		(d)	the Purchaser has the power to perform, and has taken all necessary action to authorise its performance
of, the Acquisition Documents to which it is a party and the transactions contemplated by those Acquisition Documents.

 

		(e)	the Acquisition Documents contain all the terms of the Acquisition.

 

		18.21	Centre of main interests and establishments

 

For the purposes of the Regulation,
its centre of main interest (as that term is used in Article 3(1) of the Regulation) is situated in Luxembourg and it has no "establishment"
(as that term is used in Article 2(10) of the Regulation) in any other jurisdiction.

 

		18.22	Repetition

 

		(a)	The Repeating Representations are deemed to be made by each Obligor (by reference to the facts
and circumstances then existing) on:

 

		(i)	the date of each Utilisation Request and the first day of each Interest Period; and

 

		(ii)	in the case of an Additional Borrower, the day on which it becomes (or it is proposed that it becomes)
an Additional Borrower.

 

		(b)	Clause 18.20 (Acquisition arrangements) is deemed to be made on the date of each Utilisation
Request and on the date of each Utilisation.

 

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		19.	Information Undertakings

 

The undertakings in this Clause 19
remain in force from the date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment
is in force.

 

		19.1	Financial statements

 

The Company shall supply to the Agent:

 

		(a)	as soon as the same become available, but in any event within 120 days after the end of each of
its Financial Years:

 

		(i)	its audited consolidated financial statements for that Financial Year; and

 

		(ii)	its audited unconsolidated financial statements for that Financial Year;

 

		(b)	as soon as it is available, but in any event within 60 days after the end of each Financial Quarter
of each of its Financial Years (other than the Financial Quarter ending at the end of a Financial Year), its Quarterly Report for
that Financial Quarter;

 

		(c)	as soon as the same become available, but in any event within 90 days after the end of each Financial
Quarter of each of its Financial Years (other than the Financial Quarter ending at the end of a Financial Year), if required to
be prepared under IFRS, an unaudited pro forma interim condensed consolidated income statement and a statement of financial
position of the Company, together with explanatory footnotes, for any acquisitions, dispositions or recapitalisations that have
occurred since the beginning of the most recently completed Financial Year as to which such quarterly report relates; provided
that such pro forma financial information will be provided only to the extent available without unreasonable expense,
in which case the Company will provide, in the case of a material acquisition, the financial statements of the acquired company
to the extent available without unreasonable expense; and

 

		(d)	as soon as the same become available, but in any event within 90 days after the end of each Financial
Quarter of each of its Financial Years:

 

		(i)	the details of sums being upstreamed by way of dividend or loan on a Subsidiary by Subsidiary basis;
and

 

		(ii)	the unaudited unconsolidated quarterly, semi-annual and annual financial statements in respect
of:

 

		(A)	each Significant Subsidiary incorporated in Guatemala and Paraguay for so long as such unconsolidated
financial statements are prepared in respect of such Significant Subsidiaries; and

 

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		(B)	any other Significant Subsidiary to the extent such unconsolidated financial statements are prepared
in respect of those Significant Subsidiaries.

 

		19.2	Compliance Certificate

 

		(a)	The Company shall supply to the Agent, with each set of financial statements delivered pursuant
to paragraphs (a)(i) and (b) of Clause 19.1 (Financial statements), a Compliance Certificate setting out (in reasonable
detail) computations as to compliance with Clause 20 (Financial covenants) as at the date at which those financial
statements were drawn up.

 

		(b)	Each Compliance Certificate shall be signed by the Chief Executive Officer or the Chief Financial
Officer of the Company in the form agreed by the Company and the Majority Lenders.

 

		19.3	Requirements as to financial statements

 

		(a)	Each set of financial statements delivered by the Company pursuant to Clause 19.1 (Financial
statements) shall be certified by a director of the relevant company as fairly representing its financial condition as at the
date at which those financial statements were drawn up.

 

		(b)	

 

		(i)	The Company shall procure that each set of financial statements of the Company or any of its Subsidiaries
delivered pursuant to Clause 19.1 (Financial statements) is prepared using IFRS. If there is a change to IFRS that
might result in any material alteration in the commercial effect of any of the terms of this Agreement (a "Material IFRS
Change"), the Company shall notify the Agent and, if the Agent so requests, deliver to the Agent sufficient information,
in form and substance as may be reasonably required by the Agent, to enable the Lenders to determine whether Clause 22 (Financial
covenants) has been complied with notwithstanding such Material IFRS Change.

 

		(ii)	If
                                         the Company notifies the Agent of a Material IFRS Change in accordance with paragraph (i)
                                         above, then the Company and Agent shall enter into negotiations in good faith with a
                                         view to agreeing any amendments to this Agreement which may be necessary to ensure that
                                         the Material IFRS Change does not result in any material alteration in the commercial
                                         effect of the terms of this Agreement, and if any amendments are agreed they shall take
                                         effect and be binding on each of the Parties in accordance with their terms.

 

		19.4	Information: miscellaneous

 

		(a)	The Company shall keep the Agent reasonably updated as to the status and progress of (or otherwise
in respect of) the Acquisition (subject to the requirements of applicable law).

 

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		(b)	The Company shall supply to the Agent (in sufficient copies for all the Lenders, if the Agent so
requests):

 

		(i)	all documents despatched by the Company to the shareholders of its publicly listed shares (or any
class of them) or its creditors generally (or any class of them) at the same time as they are dispatched;

 

		(ii)	promptly upon becoming aware of them, the details of any litigation, arbitration or administrative
proceedings which are current, threatened or pending against any member of the Group and which might, if adversely determined,
have a Material Adverse Effect, provided that this requirement and the notification requirement under Clause 21.12 (Environmental
Claims) shall be deemed satisfied where such details are contained in the Quarterly Report or the annual financial statements
of the Company;

 

		(iii)	promptly after the occurrence of any material acquisition, disposition or restructuring of the
Group, or any changes to the Chief Executive Officer or Chief Financial Officer at the Company, or any other material event that
the Company announces publicly, a press release or report containing a description of such event; and

 

		(iv)	promptly, such further information (which is not of a confidential nature) regarding the financial
condition, assets and operations of any member of the Group as any Finance Party (through the Agent) may reasonably request.

 

		19.5	Notification of default

 

		(a)	Each Obligor shall notify the Agent of any Default (and the steps, if any, being taken to remedy
it) promptly upon becoming aware of its occurrence (unless that Obligor is aware that a notification has already been provided
by another Obligor).

 

		(b)	Promptly upon a request by the Agent, the Company shall supply to the Agent a certificate signed
by two of its directors or senior officers on its behalf certifying that no Default is continuing (or if a Default is continuing,
specifying the Default and the steps, if any, being taken to remedy it).

 

		19.6	Use of websites

 

		(a)	The Company may satisfy its obligation under this Agreement to deliver any information in relation
to:

 

		(i)	the Original Lenders; and

 

		(ii)	those Lenders who accept this method of communication,

 

(together with the
Original Lenders, the "Website Lenders"), by posting this information onto an electronic website designated by
the Company and the Agent (the "Designated Website") if:

 

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		(A)	the Agent expressly agrees (after consultation with each of the Lenders) that it will accept communication
of the information by this method;

 

		(B)	both the Company and the Agent are aware of the address of and any relevant password specifications
for the Designated Website; and

 

		(C)	the information is in a format previously agreed between the Company and the Agent.

 

If any Lender (a "Paper Form
Lender") does not agree to the delivery of information electronically then the Agent shall notify the Company accordingly
and the Company shall supply the information to the Agent (in sufficient copies for each Paper Form Lender) in paper form. In any
event the Company shall supply the Agent with at least one copy in paper form of any information required to be provided by it.

 

		(b)	The Agent shall supply each Website Lender with the address of and any relevant password specifications
for the Designated Website following designation of that website by the Company and the Agent.

 

		(c)	The Company shall promptly upon becoming aware of its occurrence notify the Agent if:

 

		(i)	the Designated Website cannot be accessed due to technical failure;

 

		(ii)	the password specifications for the Designated Website change;

 

		(iii)	any new information which is required to be provided under this Agreement is posted onto the Designated
Website;

 

		(iv)	any existing information which has been provided under this Agreement and posted onto the Designated
Website is amended; or

 

		(v)	the Company becomes aware that the Designated Website or any information posted onto the Designated
Website is or has been infected by any electronic virus or similar software.

 

If the Company notifies the Agent under
paragraph (c)(i) or paragraph (c)(v) above, all information to be provided by the Company under this Agreement after
the date of that notice shall be supplied in paper form unless and until the Agent and each Website Lender is satisfied that the
circumstances giving rise to the notification are no longer continuing.

 

		(d)	Any Website Lender may request, through the Agent, one paper copy of any information required to
be provided under this Agreement which is posted onto the Designated Website. The Company shall comply with any such request within
ten Business Days.

 

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		19.7	"Know your customer" checks

 

		(a)	If:

 

		(i)	the introduction of or any change in (or in the interpretation, administration or application of)
any law or regulation made after the date of this Agreement;

 

		(ii)	any change in:

 

		(A)	the status of an Obligor; or

 

		(B)	the composition of the shareholders of an Obligor (other than the Company),

 

after the date of this Agreement;
or

 

		(iii)	a proposed assignment or transfer by a Lender of any of its rights and obligations under this Agreement
to a party that is not a Lender prior to such assignment or transfer,

 

obliges the Agent or any Lender (or,
in the case of paragraph (iii) above, any prospective new Lender) to comply with "know your customer" or similar
identification procedures in circumstances where the necessary information is not already available to it, each Obligor shall promptly
upon the request of the Agent or any Lender supply, or procure the supply of, such documentation and other evidence as is reasonably
requested by the Agent (for itself or on behalf of any Lender) or any Lender (for itself or, in the case of the event described
in paragraph (iii) above, on behalf of any prospective new Lender) in order for the Agent, such Lender or, in the case of
the event described in paragraph (iii) above, any prospective new Lender to carry out and be satisfied it has complied with
all necessary "know your customer" or other similar checks under all applicable laws and regulations pursuant to the
transactions contemplated in the Finance Documents.

 

		(b)	Each Lender shall promptly upon the request of the Agent supply, or procure the supply of, such
documentation and other evidence as is reasonably requested by the Agent (for itself) in order for the Agent to carry out and be
satisfied it has complied with all necessary "know your customer" or other similar checks under all applicable laws and
regulations pursuant to the transactions contemplated in the Finance Documents.

 

		(c)	The Company shall, by not less than ten Business Days' prior written notice to the Agent, notify
the Agent (which shall promptly notify the Lenders) of its intention to request that one of its Subsidiaries becomes an Additional
Borrower pursuant to Clause 24 (Changes to the Obligors).

 

		(d)	Following the giving of any notice pursuant to paragraph (c) above, if the accession of such
Additional Borrower obliges the Agent or any Lender to comply with "know your customer" or similar identification procedures
in circumstances where the necessary information is not already available to it, the Company shall promptly upon the request of
the Agent or any Lender supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the
Agent (for itself or on behalf of any Lender) or any Lender (for itself or on behalf of any prospective new Lender) in order for
the Agent or such Lender or any prospective new Lender to carry out and be satisfied it has complied with all necessary "know
your customer" or other similar checks under all applicable laws and regulations pursuant to the accession of such Subsidiary
to this Agreement as an Additional Borrower.

 

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		20.	Financial Covenants

 

		20.1	Financial definitions

 

In this Clause 20:

 

"Acquired
Debt" means Debt of any person (i) incurred and outstanding at the time it becomes a member of the Group or is merged,
consolidated, amalgamated or otherwise combined with or into a member of the Group including pursuant to any acquisition of assets
and assumption of related liabilities or (ii) incurred to provide all or part of the funds utilised to consummate the transaction
or series of related transactions pursuant to which such person became a member of the Group or was otherwise acquired by a member
of the Group; provided that, after giving pro forma effect to the transaction or transactions by which such person becomes a member
of the Group or is merged, consolidated, amalgamated or otherwise combined with or into a member of the Group, either (i) the Company
is in compliance with the requirements of paragraph (a) of Clause 20.2 (Financial Condition) or (ii) the Net Leverage Ratio
would not be more than such ratio before giving effect to such transaction or transactions.

 

"Cash
Equivalents" means, with respect to any person:

 

		(a)	Government Securities;

 

		(b)	deposit accounts, certificates of deposit and Eurodollar time deposits and money market deposits,
bankers' acceptances and overnight bank deposits, in each case issued by or with (i) any of the Original Lenders; (ii) a bank or
trust company which is organized under the laws of the United States of America, any state thereof, the United Kingdom, Switzerland,
Canada, Australia or any member state of the European Union, and which bank or trust company has capital, surplus and undivided
profits aggregating in excess of US$ 100,000,000 (or its equivalent in any other currency or currencies) and has outstanding debt
which is rated "A" (or such similar equivalent rating) or higher by at least one nationally recognized statistical rating
organization (as defined in Rule 436 under the Securities Act), or (iii) any money market fund sponsored by a U.S. registered broker
dealer or mutual fund distributor;

 

		(c)	repurchase obligations with a term of not more than seven days for underlying securities of the
types described in paragraph (b)(i) and paragraph (b)(ii) entered into with any financial institution meeting the qualifications
specified in paragraph (b)(ii) above;

 

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		(d)	commercial paper having one of the two highest ratings obtainable from Fitch Ratings Ltd or Moody's
Investor Services Limited and in each case maturing within 365 days after the date of acquisition;

 

		(e)	money market funds mutual funds at least 95% of the assets of which constitute Cash Equivalents
of the types described in paragraphs (a) through (d) of this definition; and

 

		(f)	with respect to any person organised under the laws of, or having its principal business operations
in, a jurisdiction outside the United States, those investments that are of the same type as investments in paragraphs (a),
(c) and (d) of this definition except that the obligor thereon is organised under the laws of the country (or any political subdivision
thereof) in which such person is organised or conducting business.

 

"Consolidated
EBITDA" means, for any period, operating profit, as such amount is determined in the Company's consolidated income statement
in accordance with IFRS, plus the sum of the following amounts, in each case, without double counting. Losses shall be added (as
a positive number) and gains shall be deducted, in each case, to the extent such amounts were included in calculating operating
profit:

 

		(a)	depreciation and amortization expenses, as indicated in the Company's consolidated statement of
cash flows;

 

		(b)	the net loss or gain on the disposal and impairment of assets, as indicated in the Company's consolidated
statement of cash flows;

 

		(c)	share-based compensation expenses, as indicated in the Company's consolidated statement of cash
flows;

 

		(d)	in accordance with IFRS accounting practice other non-cash charges reducing operating profit (provided
that if any such non-cash charge represents an accrual of or reserve for potential cash charges in any future period, the cash
payment in respect thereof in such future period shall reduce operating profit to such extent, and excluding amortization of a
prepaid cash item that was paid in a prior period) less other non-cash items of income increasing operating income (excluding any
such non-cash item of income to the extent it represents (x) a receipt of cash payments in any future period, (y) the reversal
of an accrual or reserve for a potential cash item that reduced operating income in any prior period and (z) any non-cash gains
with respect to cash actually received in a prior period so long as such cash did not increase operating income in such prior period);

 

		(e)	any material extraordinary, one-off, non-recurring, exceptional or unusual gain, loss, expense
or charge, including any charges or reserves in respect of any restructuring, redundancy, relocation, refinancing, integration
or severance or other post-employment arrangements, signing, retention or completion bonuses, transaction costs, acquisition costs,
disposition costs, business optimization, information technology implementation or development costs, costs related to governmental
investigations and curtailments or modifications to pension or postretirement benefits schemes, litigation or any asset impairment
charges or the financial impacts of natural disasters (including fire, flood and storm and related events);

 

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		(f)	the effects of adjustments in its consolidated financial statements pursuant to IFRS (including
inventory, property, equipment, software, goodwill, intangible assets, in process research and development, deferred revenue and
debt line items) attributable to the application of recapitalization accounting or acquisition accounting, as the case may be,
in relation to any consummated acquisition or joint venture investment or the amortization or write-off or writedown of amounts
thereof, net of taxes;

 

		(g)	any reasonable expenses, charges or other costs related to any sale of Capital Stock (other than
Redeemable Stock) of the Company or a Holding Company of the Company, Investment, acquisition, disposition, recapitalization or
the incurrence of any Debt, in each case, as determined in good faith by a responsible financial or accounting officer of the Company;

 

		(h)	any gains or losses on associates;

 

		(i)	any unrealized gains or losses due to changes in the fair value of equity Investments;

 

		(j)	any unrealized gains or losses due to changes in the fair value of Permitted Interest Rate, Currency
or Commodity Price Agreements;

 

		(k)	any unrealized gains or losses due to changes in the carrying value of put options in respect of
Capital Stock of, or voting rights with respect to, any Subsidiary, joint venture or associate;

 

		(l)	any unrealized gains or losses due to changes in the carrying value of call options in respect
of Capital Stock of, or voting rights with respect to, any Subsidiary, joint venture or associate;

 

		(m)	any net foreign exchange gains or losses;

 

		(n)	in accordance with IFRS accounting practice, any adjustments to reduce the impact of the cumulative
effect of a change in accounting principles and changes as a result of the adoption or modification of accounting policies;

 

		(o)	accruals and reserves that are established or adjusted within twelve months after the closing date
of any acquisition that are so required to be established or adjusted in accordance with IFRS;

 

		(p)	any expenses, charges or losses to the extent covered by insurance or indemnity and actually reimbursed,
or, so long as the Company or a Subsidiary has received confirmation that such amount will be reimbursed by the insurer or indemnifying
party and only to the extent that such amount is in fact reimbursed within 365 days of the date of the insurable or indemnifiable
event (net of any amount so added back in any prior period to the extent not so reimbursed within the applicable 365-day period);

 

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		(q)	the amount of proceeds received from business interruption insurance and reimbursements of any
expenses and charges that are covered by indemnification or other reimbursement provisions in connection with any acquisition,
Investment or any sale, conveyance, transfer or other disposition of assets; and

 

		(r)	any net gain (or loss) realized upon any sale/leaseback transaction that is not sold or otherwise
disposed of in the ordinary course of business, determined in good faith by a responsible financial or accounting officer of the
Company.

 

For the purposes
of calculating Consolidated EBITDA for any period, as of such date of determination:

 

		(i)	if, since the beginning of such period the Company or any Subsidiary has made any disposal of assets
not in the ordinary course of business or disposed of any company, any business, or any group of assets constituting an operating
unit of a business (any such disposition, a "Sale"), including any Sale occurring in connection with a transaction
causing a calculation to be made hereunder, then Consolidated EBITDA for such period will be reduced by an amount equal to the
Consolidated EBITDA (if positive) attributable to the assets which are the subject of such Sale for such period or increased by
an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such period;

 

		(ii)	if, since the beginning of such period the Company or any Subsidiary (by merger or otherwise) will
have made an Investment in any Person that thereby becomes a Subsidiary, or otherwise acquires any company, any business, or any
group of assets constituting an operating unit of a business (any such Investment or acquisition, a "Purchase"),
including any such Purchase occurring in connection with a transaction causing a calculation to be made hereunder, then Consolidated
EBITDA for such period will be calculated after giving pro forma effect thereto as if such Purchase occurred on the first day of
such period;

 

		(iii)	if, since the beginning of such period any Person (that became a Subsidiary or was merged with
or into the Company or any Subsidiary since the beginning of such period) will have made any Sale or any Purchase that would have
required an adjustment pursuant to clauses (i) or (ii) above if made by the Company or a Subsidiary since the beginning of such
period, Consolidated EBITDA for such period will be calculated after giving pro forma effect thereto as if such Sale or Purchase
occurred on the first day of such period, including anticipated synergies and cost savings as if such Sale or Purchase occurred
on the first day of such period; and

 

		(iv)	whenever pro forma effect is applied, the pro forma calculations
will be as determined in good faith by a responsible financial or accounting officer of the Company (including in respect of anticipated
synergies and cost savings) as though the full effect of such synergies and cost savings were realized on the first day of the
relevant period and shall also include the reasonably anticipated full run rate cost savings effect (as calculated in good faith
by a responsible financial or chief accounting officer of the Company) of cost savings programs that have been initiated by the
Company or its Subsidiaries as though such cost savings programs had been fully implemented on the first day of the relevant period,
provided that if the aggregate amount of such anticipated synergies and cost savings exceeds 5% of Consolidated EBITDA (calculated
without reference to the applicable Purchase or Sale), such amounts are confirmed by a reputable, independent third party advisor.

 

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For the purpose
of calculating the Consolidated EBITDA of the Company, any Joint Venture Consolidated EBITDA shall be added to the amount determined
in accordance with the foregoing.

 

"Consolidated
Interest Expense" means for any Relevant Period, the consolidated interest expense included in the consolidated income
statement (without deduction of interest income) of the Company and its Subsidiaries for such Relevant Period prepared in accordance
with IFRS, excluding the interest component of any Capital Lease Obligation, and calculated without double counting any obligations
described in paragraphs (a), (b) or (h) of the first paragraph of the definition of Debt that are incurred by any member of the
Group and any obligations described in paragraph (a) of the definition of Debt.

 

"Consolidated
Net Debt" means, with respect to the Company as of any date of determination, the sum without duplication of:

 

		(a)	the total amount of Debt of the Company and its Subsidiaries on a consolidated basis that would
be stated on the statement of financial position of the Company as of such date in accordance with IFRS, minus

 

		(b)	the sum without duplication of:

 

		(i)	

 

		(A)	all Debt outstanding under Minority Shareholder Loans, plus

 

		(B)	any Debt which is a contingent obligation of the Company or its Subsidiaries on the date of the
most recent financial statements, plus

 

		(C)	the amount of cash and Cash Equivalents (other than cash or Cash Equivalents received from the
incurrence of Debt by any member of the Group to the extent such cash or Cash Equivalents has not been subsequently applied or
used for any purpose not prohibited by this Agreement) of the Company and its Subsidiaries on a consolidated basis that would be
stated on the statement of financial position of the Company as of such date in accordance with IFRS, plus

 

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		(D)	deposits pledged to secure Debt, as such amount is recorded under the line item "pledged deposits"
under non-current assets on the Company's statement of financial position, plus

 

		(E)	Debt of the Company and its Subsidiaries under any Capital Lease Obligation or operating lease,

 

less

 

		(ii)	Restricted Cash.

 

"Financial
Quarter" means the period commencing on the day after one Quarter Date and ending on the next Quarter Date.

 

"Financial
Year" means the annual accounting period of the Company ending on or about 31 December in each year.

 

"Government
Securities" means direct obligations of, or obligations guaranteed by, the United States of America for the payment of
which obligations or guarantee the full faith and credit of the United States of America is pledged and which have a remaining
weighted average life to maturity of not more than one year from the date of Investment therein.

 

"Interest
Cover" means the ratio of Consolidated EBITDA to Consolidated Interest Expense in respect of any Relevant Period.

 

"Investment"
by any person means any direct or indirect loan, advance or other extension of credit or capital contribution (by means of transfers
of cash or other property to others or payments for property or services for the account or use of others, or otherwise) to, or
purchase or acquisition of Capital Stock, bonds, notes, debentures or other securities or evidence of Debt issued by, any other
person, including any payment on a guarantee of any obligation of such other person, together with all items that are or would
be classified as Investments on a statement of financial position (excluding the footnotes thereto) prepared in accordance with
IFRS, but shall not include:

 

		(a)	trade accounts receivable in the ordinary course of business on credit terms made generally available
to the customers of such person; or

 

		(b)	commission, travel, payroll, entertainment, relocation and similar advances to officers and employees
and profit sharing and other employee benefit plan contributions made in the ordinary course of business.

 

Except as otherwise provided in this
Agreement, the amount of an Investment will be determined at the time the Investment is made and without giving effect to a subsequent
change in value and, to the extent applicable, shall be determined based on the equity value of such Investment.

 

"Joint
Venture Consolidated EBITDA" means an amount equal to the product of (i) the Consolidated EBITDA of any joint venture
(determined in good faith by a responsible financial or accounting officer of the Company on the same basis as provided for in
the definition of "Consolidated EBITDA" (with the exception of clause (i) and the last sentence thereof) as if each reference
to the "Company" in such definition was to such joint venture) whose financial results are not consolidated with those
of the Company in accordance with IFRS and (ii) a percentage equal to the direct equity ownership percentage of the Company and/or
its Subsidiaries in the Capital Stock of such joint venture and its Subsidiaries.

 

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"Minority
Shareholder Loan" means Debt of a Subsidiary of the Company that is issued to and held by an equity owner of such Subsidiary,
other than the Company or a subsidiary of the Company.

 

"Net Leverage
Ratio" means, with respect to the Company, the ratio of (a) the Consolidated Net Debt (excluding Debt consisting of Permitted
Interest Rate, Currency or Commodity Price Agreements) to (b) the Consolidated EBITDA of the Company for the four most recent Financial
Quarters ending immediately prior to such date for which consolidated financial statements are available, determined on a pro
forma basis as if any such Debt had been incurred, or such other Debt had been repaid, redeemed or repurchased, as applicable,
at the beginning of such four Financial Quarter period. For the avoidance of doubt, in determining Net Leverage Ratio, no cash
or Cash Equivalents shall be included that are the proceeds of Debt in respect of which the pro forma calculation is to
be made.

 

"Quarter
Date" means each of 31 March, 30 June, 30 September and 31 December.

 

"Relevant
Period" means each period of twelve months ending on or about the last day of the Financial Year and each period of twelve
months ending on or about the last day of each Financial Quarter.

 

"Restricted
Cash" means the sum of (a) Restricted MFS Cash, and (b) without duplication, the amount of cash that would be stated as
 "restricted cash" on the consolidated statement of financial position of the Company as of such date in accordance with
IFRS.

 

		20.2	Financial condition

 

The Company shall ensure that:

 

		(a)	Net Leverage Ratio: Net Leverage Ratio in respect of any Relevant Period shall be less than
3.00:1 at all times.

 

		(b)	Interest Cover: Interest Cover in respect of any Relevant Period shall not be less than 4.00:1
at any time.

 

		20.3	Financial testing

 

The financial covenants set out in
Clause 20.2 (Financial condition) shall be tested quarterly by reference to each of the financial statements delivered
pursuant to paragraphs (a)(i) and (b) of Clause 19.1 (Financial Statements) and/or each Compliance Certificate
delivered pursuant to Clause 19.2 (Compliance Certificate).

 

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		21.	General Undertakings

 

The undertakings in this Clause 21
remain in force from the date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment
is in force.

 

		21.1	Authorisations

 

Each Obligor shall promptly:

 

		(a)	obtain, comply with and do all that is necessary to maintain in full force and effect; and

 

		(b)	supply certified copies to the Agent of,

 

any Authorisation required under
any law or regulation of its jurisdiction of incorporation to enable it to perform its obligations under the Finance Documents
and/or the Acquisition Documents and to ensure, subject to the Legal Reservations, the legality, validity, enforceability or admissibility
in evidence in its jurisdiction of incorporation of any Finance Document and/or any Acquisition Document.

 

		21.2	Compliance with laws

 

Each Obligor shall comply in all
respects with all laws to which it may be subject, if failure so to comply would materially impair its ability to perform its obligations
under either the Finance Documents or the Acquisition Documents.

 

		21.3	Negative pledge

 

In this Clause 21.3,
 "Quasi-Security" means an arrangement or transaction described in paragraph (b) below.

 

		(a)	No Obligor shall (and the Company shall ensure that no other member of the Group will) create or
permit to subsist any Lien over any of its assets.

 

		(b)	No Obligor shall (and the Company shall ensure that no other member of the Group will):

 

		(i)	sell, transfer or otherwise dispose of any of its assets on terms whereby they are or may be leased
to or re-acquired by an Obligor or any other member of the Group;

 

		(ii)	sell, transfer or otherwise dispose of any of its receivables on recourse terms;

 

		(iii)	enter into any arrangement under which money or the benefit of a bank or other account may be applied,
set-off or made subject to a combination of accounts; or

 

		(iv)	enter into any other preferential arrangement having a similar effect,

 

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in circumstances where the arrangement
or transaction is entered into primarily as a method of raising Debt or of financing the acquisition of an asset.

 

		(c)	Paragraphs (a) and (b) above do not apply to any Lien or (as the case may be) Quasi-Security
which is a Permitted Lien.

 

		21.4	Disposals

 

		(a)	No Obligor shall (and the Company shall ensure that no other member of the Group will), enter into
a single transaction or a series of transactions (whether related or not) and whether voluntary or involuntary to sell, lease,
transfer or otherwise dispose of any asset.

 

		(b)	Paragraph (a) above does not apply to any sale, lease, transfer or other disposal which is
a Permitted Disposal.

 

		21.5	Arm's length basis

 

		(a)	Except as permitted by paragraph (b) below, no Obligor shall (and the Company shall ensure that
no other member of the Group will) enter into any transaction with any person except on arm's length terms and for full market
value.

 

		(b)	The following transactions shall not be a breach of this Clause ‎21.5:

 

		(i)	intra-Group loans permitted under Clause 21.16 (Loans or credit); and

 

		(ii)	any Permitted Reorganisation to the extent that it only involves members of the Group; or

 

		(iii)	fees, costs and expenses payable under the Finance Documents in the amounts set out in the Finance
Documents delivered to the Agent under Clause ‎4.1 (Initial conditions precedent)
or agreed by the Agent.

 

		21.6	Pari passu ranking

 

Each Obligor shall ensure that at
all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari
passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily
preferred by laws of general application to companies.

 

		21.7	Change of business

 

		(a)	Except as permitted under paragraph (b) below, the Company ‎shall
ensure that no substantial change is made to the general nature of the business of the Company or the Group from that carried on
at the date of this Agreement (provided that, for the avoidance of doubt, the Acquisition shall not constitute such a substantial
change).

 

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		(b)	Paragraph (a) shall not prevent the Company from engaging in any Permitted Business.

 

		21.8	Preservation of properties

 

Subject to Permitted Discontinuance
of Property Maintenance, each Obligor shall (and the Company shall ensure that each other member of the Group will) maintain in
good repair, working order and condition (ordinary wear and tear excepted) all of its material properties necessary or desirable
in the conduct of its business, all in accordance with the judgment of the Company (acting reasonably).

 

		21.9	Joint Ventures

 

		(a)	Except as permitted under paragraph ‎(b) below, no Obligor
shall (and the Company shall ensure that no other member of the Group will):

 

		(i)	enter into, invest in or acquire (or agree to acquire) any shares, stocks, securities or other
interest in any Joint Venture; or

 

		(ii)	transfer any assets or lend to or guarantee or give an indemnity for or give Security for the obligations
of a Joint Venture or maintain the solvency of or provide working capital to any Joint Venture (or agree to do any of the foregoing).

 

		(b)	Paragraph (a) above does not apply to any acquisition of (or agreement to acquire) any interest
in a Joint Venture or transfer of assets (or agreement to transfer assets) to a Joint Venture or loan made to or guarantee given
in respect of the obligations of a Joint Venture if such transaction is a Permitted Joint Venture.

 

		21.10	Insurance

 

Each Obligor shall (and the Company
shall ensure that each member of the Group will) maintain insurances on and in relation to its properties with reputable underwriters
or insurance companies against those risks and to the extent as is usual for companies carrying on the same or substantially similar
business.

 

		21.11	Environmental Compliance

 

Each Obligor shall (and the Company
shall ensure that each member of the Group will) comply in all material respects with all Environmental Law and obtain and maintain
any Environmental Permits where failure to do so has or is reasonably expected to have a Material Adverse Effect.

 

		21.12	Environmental Claims

 

Subject to paragraph 19.4(b)(ii)
of Clause 19.4 (Information: miscellaneous), the Company shall inform the Agent in writing as soon as reasonably practicable
upon becoming aware of:

 

		(a)	any Environmental Claim that has been commenced or (to the best of its knowledge and belief) is
threatened against any member of the Group; or

 

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		(b)	any facts or circumstances which will or are reasonably likely to result in any Environmental Claim
being commenced or threatened against any member of the Group,

 

where the claim would be reasonably
likely, if determined against that member of the Group, to have a Material Adverse Effect.

 

		21.13	Anti-corruption law

 

		(a)	No Obligor shall (and the Company shall ensure that no other member of the Group will) directly
or indirectly use the proceeds of the Facility for any purpose which would breach the Bribery Act 2010, the United States Foreign
Corrupt Practices Act of 1977 or other similar legislation in other jurisdictions to which the relevant member of the Group or
any Finance Party is subject.

 

		(b)	Each Obligor shall (and the Company shall ensure that each other member of the Group will):

 

		(i)	conduct its businesses in compliance with applicable anti-corruption laws; and

 

		(ii)	maintain policies and procedures designed to promote and achieve compliance with such laws.

 

		21.14	Sanctions

 

		(a)	No Obligor shall (and the Company shall ensure that no other member of the Group will) contribute
or otherwise use the proceeds or make available the proceeds of the Facility, directly or indirectly, to any person or entity listed
on any Sanctions List or located in a Sanctioned Country, to the extent such contribution or provision of proceeds would be prohibited
by Sanctions or would otherwise cause any Finance Party to be in breach of applicable Sanctions (at the time the proceeds were
made available or contributed).

 

		(b)	No Obligor shall (and the Company shall ensure that no other member of the Group will) fund all
or part of any payment under the Facility out of proceeds derived from transactions which are prohibited by Sanctions or would
otherwise cause any Finance Party to be in breach of applicable Sanctions (at the time the proceeds were made available or contributed).

 

		(c)	This covenant shall not be deemed to be made to or for the benefit of any Finance Party or any
director, officer or employee thereof to the extent that this provision would expose that Finance Party or any director, officer
or employee thereof to any liability under any applicable anti-boycott law, regulation or statute.

 

		21.15	Taxation

 

		(a)	Except as permitted under paragraph ‎(b) below, each Obligor
shall (and the Company shall ensure that each member of the Group will) duly and punctually pay and discharge all material Taxes
imposed upon it or its assets within the time period allowed without incurring penalties.

 

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		(b)	Paragraph (a) above, shall not apply to any payment which is a Permitted Tax Non-Payments.

 

		21.16	Financial indebtedness

 

The
Company shall ensure that none of its Subsidiaries will incur or allow to remain outstanding any Debt, if and to the extent that
such Debt would cause or result in a Net Leverage Ratio of 2.75:1 or more, excluding in this calculation all Debt that only has
recourse against the Company and any Consolidated EBITDA generated by the Company.

 

		21.17	Loans and credit

 

No Obligor shall (and the Company
shall ensure that no other member of the Group will) make any loans or grant any credit to or for the benefit of any person, other
than a Permitted Loan.

 

		21.18	Intellectual Property

 

Each Obligor shall (and the Company
shall procure that each other member of the Group will):

 

		(a)	preserve and maintain the subsistence and validity of the Intellectual Property necessary for the
business of the relevant Group member ("Material Intellectual Property");

 

		(b)	use reasonable endeavours to prevent any infringement in any material respect of the Material Intellectual
Property;

 

		(c)	make registrations and pay all registration fees and taxes necessary to maintain the Material Intellectual
Property in full force and effect and record its interest in that Material Intellectual Property;

 

		(d)	not use or permit the Material Intellectual Property to be used in a way or take any step or omit
to take any step in respect of that Material Intellectual Property which may materially and adversely affect the existence or value
of the Material Intellectual Property or imperil the right of any member of the Group to use such property; and

 

		(e)	not discontinue the use of the Material Intellectual Property,

 

where failure to
do so, in the case of paragraphs ‎(a) and ‎(b)
above, or, in the case of paragraphs ‎(d) and ‎(e)
above, such use, permission to use, omission or discontinuation, is reasonably likely to have a Material Adverse Effect.

 

		21.19	Treasury transactions

 

No
Obligor shall (and the Company will procure that no other member of the Group will) enter into any Interest Rate, Currency or
Commodity Price Agreement, other than a Permitted Interest Rate, Currency or Commodity Price Agreement.

 

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	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		21.20	Dividends

 

The Company shall not pay, make or
declare any dividend or other distribution to all or any of its shareholders whilst and for so long as (i) an Event of Default
has occurred and is continuing, and (ii) any Utilisation is outstanding under the Facility.

 

		21.21	Centre
                                         of main interests and establishment

 

For the purposes of the Regulation,
the Company shall ensure that its centre of main interest (as that term is used in Article 3(1) of the Regulation) is situated
in either Luxembourg, Sweden, United Kingdom or the United States of America and that it shall have no "establishment"
(as that term is used in Article 2(10) of the Regulation) in any other jurisdiction.

 

		21.22	Acquisition undertakings

 

		(a)	In respect of any payment of a dividend or distribution of share premium reserve following the
occurrence of the Acquisition Closing Date by any member of the Target Group that is not a wholly-owned Subsidiary of its Holding
Company, the Company shall procure that the payment made by the relevant member of the Target Group to its minority shareholders
shall be no greater than proportionate to their shareholding.

 

		(b)	The Company will procure that the Purchaser (or other relevant member of the Group) will promptly
pay all amounts payable to the Sellers under the Acquisition Documents as and when they become due (except to the extent that any
such amounts are being contested in good faith by a member of the Group and where adequate reserves are set aside for any such
payment).

 

		(c)	The Company will procure that the Purchaser (or other relevant member of the Group) shall take
all reasonable and practicable steps to preserve and enforce its rights (or the rights of any other member of the Group) and pursue
any claims and remedies arising under any Acquisition Documents to the extent it would be commercially reasonable to do so in its
reasonable opinion.

 

		22.	Events of Default

 

Each of the events or circumstances
set out in this Clause 22 is an Event of Default, save for Clause 22.16 (Acceleration).

 

		22.1	Non-payment

 

An Obligor does not pay on the due
date any amount payable pursuant to a Finance Document at the place at and in the currency in which it is expressed to be payable
unless:

 

		(a)	its failure to pay is caused by:

 

		(i)	administrative or technical error; or

 

		(ii)	a Disruption Event; and

 

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		(b)	payment is made within five Business Days of its due date.

 

		22.2	Financial covenants

 

Any requirement of Clause 20
(Financial covenants) is not satisfied.

 

		22.3	Other obligations

 

		(a)	

 

		(i)	An Obligor does not comply with the provision of Clauses 21.3 (Negative Pledge), 21.4
(Disposals), 21.6 (Pari passu ranking), 21.9 (Joint Ventures), 21.13 (Anti-corruption law), 21.14 (Sanctions),
21.17 (Loans and credit), 21.20 (Dividends) or 21.21 (Centre of main interests and establishment).

 

		(ii)	No Event of Default under paragraph (a) above will occur if the failure to comply is capable
of remedy and is remedied within 20 days of the earlier of (A) the Agent giving notice to the Company, and (B) a member of the
executive committee or the treasury department of the Company becoming aware of the failure to comply.

 

		(b)	

 

		(i)	An Obligor does not comply with any provision of the Finance Documents, other than those referred
to in Clauses 22.1 (Non-payment), 20 (Financial covenants), paragraph (a) of 22.3 (Other obligations)
and 21.16 (Financial Indebtedness).

 

		(ii)	No Event of Default under paragraph (a) above will occur if the failure to comply is capable
of remedy and is remedied within 30 days of the earlier of (A) the Agent giving notice to the Company and (B) a member of the executive
committee or the treasury department of the Company becoming aware of the failure to comply.

 

		22.4	Misrepresentation

 

Any representation or statement made
or deemed to be made by an Obligor in the Finance Documents or any other document delivered by or on behalf of any Obligor under
or in connection with any Finance Document is or proves to have been incorrect or misleading in any material respect when made
or deemed to be made, and, the circumstance or event giving rise to such misrepresentation, if capable of remedy, is not remedied
within 21 days of the earlier of the Agent giving notice to the Company and the Company becoming aware of the relevant misrepresentation.

 

		22.5	Cross Payment Default and Cross Acceleration

 

		(a)	The occurrence of a Cross Payment Default.

 

		(b)	The occurrence of a Cross Acceleration.

 

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		(c)	No Event of Default will occur under this Clause 22.5 if the aggregate amount of Debt which
is the subject of the events referred to in paragraphs (a) and (b) above is less than US$ 50,000,000 (or its equivalent in
any other currency or currencies) without double counting.

 

		22.6	Insolvency

 

		(a)	A Material Company is unable or admits inability to pay its debts as they fall due, suspends making
payments on any of its debts or, by reason of actual or anticipated financial difficulties, commences negotiations with one or
more of its creditors with a view to rescheduling any of its indebtedness.

 

		(b)	The value of the assets of any Material Company is less than its liabilities (taking into account
contingent and prospective liabilities).

 

		(c)	A moratorium is declared in respect of any indebtedness of any Material Company.

 

		22.7	Insolvency proceedings

 

Any corporate action, legal proceedings
or other procedure or step is taken in relation to:

 

		(a)	the suspension of payments, a moratorium of any indebtedness, winding-up, dissolution, administration
or reorganisation (by way of voluntary arrangement, scheme of arrangement or otherwise) of any Material Company;

 

		(b)	a composition, compromise, assignment or arrangement with any creditor of any Material Company;

 

		(c)	the appointment of a liquidator (other than in respect of a solvent liquidation of a member of
the Group which is not an Obligor), receiver, administrative receiver, administrator, compulsory manager or other similar officer
in respect of any Material Company or any of its assets; or

 

		(d)	enforcement of any Lien over any assets of any Material Company,

 

or any analogous procedure or step
is taken in any jurisdiction.

 

This Clause 22.7 shall not apply
to any winding-up petition which is frivolous or vexatious and is discharged, stayed or dismissed within 30 days of commencement.

 

		22.8	Creditors' process

 

Any attachment, sequestration, distress
or execution affects any asset or assets of a Material Company having an aggregate value of US$50,000,000 and is not discharged
within 30 days or, where the Company reasonably believes such action is frivolous, vexatious or without merit, and is challenging
such action in good faith, it is not discharged within 180 days.

 

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		22.9	Ownership of the Obligors

 

An Obligor (other than the Company)
is not or ceases to be a Subsidiary of the Company.

 

		22.10	Cessation of business

 

Any member of the Group suspends
or ceases to carry on (or threatens to suspend or cease to carry on) all or a material part of its business, except as a result
of a Permitted Reorganisation or a Permitted Disposal.

 

		22.11	Unlawfulness

 

It is or becomes unlawful for an
Obligor to perform any of its obligations under the Finance Documents.

 

		22.12	Repudiation

 

An Obligor repudiates a Finance Document
or evidences an intention to repudiate either a Finance Document.

 

		22.13	Expropriation

 

The authority or ability of any member
of the Group to conduct its business is limited or wholly or substantially curtailed by any seizure, expropriation, nationalisation,
intervention, restriction or other action by or on behalf of any governmental, regulatory or other authority or other person in
relation to any member of the Group or any of its assets, where such action has or is reasonably likely to have a Material Adverse
Effect.

 

		22.14	Litigation

 

Any litigation, arbitration, administrative,
governmental, regulatory or other investigations, proceedings or disputes are commenced or threatened, against any member of the
Group or its assets which, in the reasonable opinion of the Majority Lenders (having taken into account appropriate local legal
advice):

 

		(a)	is likely to be adversely determined; and

 

		(b)	if adversely determined, would have a Material Adverse Effect.

 

		22.15	Material adverse change

 

Any event or circumstance occurs
which in the opinion of the Majority Lenders (acting reasonably) has or is reasonably likely to have a Material Adverse Effect.

 

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		22.16	Acceleration

 

On and at any time after the occurrence
of an Event of Default which is continuing, the Agent may, and shall if so directed by the Majority Lenders, by notice to the Company:

 

		(a)	cancel the Total Commitments, at which time they shall immediately be cancelled;

 

		(b)	declare that all or part of the Loans, together with accrued interest, and all other amounts accrued
or outstanding under the Finance Documents be immediately due and payable, at which time they shall become immediately due and
payable; and/or

 

		(c)	declare that all or part of the Loans be payable on demand, at which time they shall immediately
become payable on demand by the Agent on the instructions of the Majority Lenders

 

		22.17	Clean-Up Period

 

Notwithstanding any other provision
of any Finance Document:

 

		(a)	any breach of a Clean-Up Undertaking; or

 

		(b)	any Event of Default constituting a Clean-Up Default,

 

will be deemed not to be a breach
of covenant or an Event of Default (as the case may be) if:

 

		(i)	it is notified by the Company or a Borrower to the Agent as soon as reasonably practicable;

 

		(ii)	it is capable of remedy and reasonable steps are being taken to remedy it;

 

		(iii)	it is not reasonably likely to have a Material Adverse Effect; and

 

		(iv)	it was not procured or approved by the Company or a Borrower or, following the Acquisition Closing
Date, any member of the relevant Target Group.

 

If the relevant circumstances are
continuing after the date falling 90 days after the Acquisition Closing Date, there shall be a breach of breach of covenant or
Event of Default, as the case may be notwithstanding the above (and without prejudice to the rights and remedies of the Finance
Parties).

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0800
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

SECTION 9

CHANGES TO PARTIES

 

		23.	Changes to the Lenders

 

		23.1	Assignments and transfers by the Lenders

 

Subject to this Clause 23, a
Lender (the "Existing Lender") may:

 

		(a)	assign any of its rights; or

 

		(b)	transfer by novation any of its rights and obligations,

 

to (i) another bank or financial
institution or (ii) a trust, fund or other entity which is regularly engaged in or established for the purpose of making, purchasing
or investing in loans, securities or other financial assets (a "Fund") (the "New Lender").

 

		23.2	Conditions of assignment or transfer

 

		(a)	The consent of the Company is required for an assignment or transfer by an Existing Lender unless
the assignment or transfer is:

 

		(i)	to another Lender or an Affiliate of a Lender (provided such Lender or its Affiliate is not a Fund);
or

 

		(ii)	made at a time when an Event of Default is continuing; and

 

		(b)	The consent of the Company to an assignment or transfer must not be unreasonably withheld or delayed
(provided that a refusal to consent if the proposed assignee or transferee is a Fund, shall not be deemed unreasonable).
The Company will be deemed to have given its consent 10 Business Days after the Existing Lender has requested it (provided that
the request for consent is transmitted to two individuals at the Company whose details have been provided to the Agent in connection
with Clause 30 (Notices)) unless consent is expressly refused by the Company within that time.

 

		(c)	An assignment will only be effective on:

 

		(i)	receipt by the Agent (whether in the Assignment Agreement or otherwise) of written confirmation
from the New Lender (in form and substance satisfactory to the Agent) that the New Lender will assume the same obligations to the
other Finance Parties as it would have been under if it was an Original Lender; and

 

		(ii)	performance by the Agent of all necessary "know your customer" or other similar
checks under all applicable laws and regulations in relation to such assignment to a New Lender, the completion of which the Agent
shall promptly notify to the Existing Lender and the New Lender.

 

		(d)	An assignment or transfer shall be in a minimum amount of US$ 5,000,000.

 

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		(e)	A transfer will only be effective if the procedure set out in Clause 23.5 (Procedure for
transfer) is complied with.

 

		(f)	If:

 

		(i)	a Lender assigns or transfers any of its rights or obligations under the Finance Documents or changes
its Facility Office; and

 

		(ii)	as a result of circumstances existing at the date the assignment, transfer or change occurs, an
Obligor would be obliged to make a payment to the New Lender or Lender acting through its new Facility Office under Clause 12
(Tax gross-up and indemnities) or Clause 13 (Increased costs),

 

then the New Lender or Lender acting
through its new Facility Office is only entitled to receive payment under those Clauses to the same extent as the Existing
Lender or Lender acting through its previous Facility Office would have been if the assignment, transfer or change had not occurred.
This paragraph (f) shall not apply in respect of an assignment or transfer made in the ordinary course of the primary syndication
of the Facility.

 

		(g)	Each New Lender, by executing the relevant Transfer Certificate or Assignment Agreement, confirms,
for the avoidance of doubt, that the Agent has authority to execute on its behalf any amendment or waiver that has been approved
by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the transfer
or assignment becomes effective in accordance with this Agreement and that it is bound by that decision to the same extent as the
Existing Lender would have been had it remained a Lender.

 

		23.3	Assignment or transfer fee

 

The New Lender shall, on the date
upon which an assignment or transfer takes effect, pay to the Agent (for its own account) a fee of US$ 3,500.

 

		23.4	Limitation of responsibility of Existing Lenders

 

		(a)	Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty
and assumes no responsibility to a New Lender for:

 

		(i)	the legality, validity, effectiveness, adequacy or enforceability of the Finance Documents or any
other documents;

 

		(ii)	the financial condition of any Obligor;

 

		(iii)	the performance and observance by any Obligor of its obligations under the Finance Documents or
any other documents; or

 

		(iv)	the accuracy of any statements (whether written or oral) made in or in connection with any Finance
Document or any other document,

 

and any representations or warranties
implied by law are excluded.

 

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	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		(b)	Each New Lender confirms to the Existing Lender and the other Finance Parties that it:

 

		(i)	has made (and shall continue to make) its own independent investigation and assessment of the financial
condition and affairs of each Obligor and its related entities in connection with its participation in this Agreement and has not
relied exclusively on any information provided to it by the Existing Lender in connection with any Finance Document; and

 

		(ii)	will continue to make its own independent appraisal of the creditworthiness of each Obligor and
its related entities whilst any amount is or may be outstanding under the Finance Documents or any Commitment is in force.

 

		(c)	Nothing in any Finance Document obliges an Existing Lender to:

 

		(i)	accept a re-transfer or re-assignment from a New Lender of any of the rights and obligations assigned
or transferred under this Clause 23; or

 

		(ii)	support any losses directly or indirectly incurred by the New Lender by reason of the non-performance
by any Obligor of its obligations under the Finance Documents or otherwise.

 

		23.5	Procedure for transfer

 

		(a)	Subject to the conditions set out in Clause 23.2 (Conditions of assignment or transfer)
a transfer is effected in accordance with paragraph (c) below when the Agent executes an otherwise duly completed Transfer
Certificate delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to paragraph (b) below, as
soon as reasonably practicable after receipt by it of a duly completed Transfer Certificate appearing on its face to comply with
the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Transfer Certificate.

 

		(b)	The Agent shall only be obliged to execute a Transfer Certificate delivered to it by the Existing
Lender and the New Lender once it is satisfied it has complied with all necessary "know your customer" or other similar
checks under all applicable laws and regulations in relation to the transfer to such New Lender.

 

		(c)	Subject to Clause 23.9 (Pro rata interest settlement), on the Transfer Date:

 

		(i)	to the extent that in the Transfer Certificate the Existing Lender seeks to transfer by novation
its rights and obligations under the Finance Documents each of the Obligors and the Existing Lender shall be released from further
obligations towards one another under the Finance Documents and their respective rights against one another under the Finance Documents
shall be cancelled (being the "Discharged Rights and Obligations");

 

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		(ii)	each of the Obligors and the New Lender shall assume obligations towards one another and/or acquire
rights against one another which differ from the Discharged Rights and Obligations only insofar as that Obligor and the New Lender
have assumed and/or acquired the same in place of that Obligor and the Existing Lender;

 

		(iii)	the Agent, the Arranger, the New Lender and the other Lenders shall acquire the same rights and
assume the same obligations between themselves as they would have acquired and assumed had the New Lender been an Original Lender
with the rights and/or obligations acquired or assumed by it as a result of the transfer and to that extent the Agent, the Arranger
and the Existing Lender shall each be released from further obligations to each other under the Finance Documents; and

 

		(iv)	the New Lender shall become a Party as a "Lender".

 

		23.6	Procedure for assignment

 

		(a)	Subject to the conditions set out in Clause 23.2 (Conditions of assignment or transfer)
an assignment may be effected in accordance with paragraph (c) below when the Agent executes an otherwise duly completed Assignment
Agreement delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to paragraph (b) below, as soon
as reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply with the
terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement.

 

		(b)	The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing
Lender and the New Lender once it is satisfied it has complied with all necessary "know your customer" or other similar
checks under all applicable laws and regulations in relation to the assignment to such New Lender.

 

		(c)	Subject to Clause 23.9 (Pro rata interest settlement), on the Transfer Date:

 

		(i)	the Existing Lender will assign absolutely to the New Lender the rights under the Finance Documents
expressed to be the subject of the assignment in the Assignment Agreement;

 

		(ii)	the Existing Lender will be released by each Obligor and the other Finance Parties from the obligations
owed by it (the "Relevant Obligations") and expressed to be the subject of the release in the Assignment Agreement;
and

 

		(iii)	the New Lender shall become a Party as a "Lender" and will be bound by obligations equivalent
to the Relevant Obligations.

 

		(d)	Lenders may utilise procedures other than those set out in this Clause 23.6 to assign their
rights under the Finance Documents (but not, without the consent of the relevant Obligor or unless in accordance with Clause 23.5
(Procedure for transfer), to obtain a release by that Obligor from the obligations owed to that Obligor by the Lenders nor
the assumption of equivalent obligations by a New Lender) provided that they comply with the conditions set out in Clause 23.2
(Conditions of assignment or transfer).

 

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	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		23.7	Copy of Transfer Certificate, Assignment Agreement or Increase Confirmation to Company

 

The
Agent shall, as soon as reasonably practicable after it has executed a Transfer Certificate, an Assignment Agreement or an Increase
Confirmation send to the Company a copy of that Transfer Certificate, Assignment Agreement or Increase Confirmation.

 

		23.8	Security over Lenders' rights

 

In addition to the other rights provided
to Lenders under this Clause 23.8, each Lender may without consulting with or obtaining consent from any Obligor at any time
charge, assign or otherwise create Security in or over (whether by way of collateral or otherwise) all or any of its rights under
any Finance Document to secure obligations of that Lender including, without limitation:

 

		(a)	any charge, assignment or other Security to secure obligations to a federal reserve or central
bank; and

 

		(b)	in the case of any Lender which is a Fund, any charge, assignment or other Security granted to
any holders (or trustee or representatives of holders) of obligations owed, or securities issued, by that Lender as Security for
those obligations or securities,

 

except that no such charge, assignment
or Security shall:

 

		(i)	release a Lender from any of its obligations under the Finance Documents or substitute the beneficiary
of the relevant charge, assignment or Security for the Lender as a party to any of the Finance Documents; or

 

		(ii)	require any payments to be made by an Obligor or grant to any person any more extensive rights
than those required to be made or granted to the relevant Lender under the Finance Documents.

 

		23.9	Pro rata interest settlement

 

If the Agent has notified the Lenders
that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then
(in respect of any transfer pursuant to Clause 23.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6
(Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on
the last day of an Interest Period):

 

		(a)	any interest or fees in respect of the relevant participation which are expressed to accrue by
reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date
("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing
on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the
dates which falls at six Monthly intervals after the first day of that Interest Period); and

 

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		(b)	the rights assigned or transferred by the Existing Lender will not include the right to the Accrued
Amounts, so that, for the avoidance of doubt:

 

		(i)	when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing
Lender; and

 

		(ii)	the amount payable to the New Lender on that date will be the amount which would, but for the application
of this Clause 23.8, have been payable to it on that date, but after deduction of the Accrued Amounts.

 

		(c)	In this Clause 23.9 references to "Interest Period" shall be construed to include a reference
to any other period for accrual of fees.

 

		24.	Changes to the Obligors

 

		24.1	Assignments and transfers by Obligors

 

No Obligor may assign any of its
rights or transfer any of its rights or obligations under the Finance Documents.

 

		24.2	Additional Borrowers

 

		(a)	Subject to compliance with the provisions of paragraphs (c) and (d) of Clause 19.7 ("Know
your customer" checks), the Company may request that any of its wholly owned Subsidiaries becomes an Additional Borrower.
That Subsidiary shall become an Additional Borrower if:

 

		(i)	all the Lenders approve the addition of that Subsidiary;

 

		(ii)	the Company delivers to the Agent a duly completed and executed Accession Letter;

 

		(iii)	the Company confirms that no Default is continuing or would occur as a result of that Subsidiary
becoming an Additional Borrower; and

 

		(iv)	the Agent has received all of the documents and other evidence listed in Part II of Schedule 2
(Conditions precedent) in relation to that Additional Borrower, each in form and substance satisfactory to the Agent.

 

		(b)	The Agent shall notify the Company and the Lenders promptly upon being satisfied that it has received
(in form and substance satisfactory to it) all the documents and other evidence listed in Part II of Schedule 2 (Conditions
precedent).

 

		(c)	Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary
before the Agent gives the notification described in paragraph (b) above, the Lenders authorise (but do not require) the Agent
to give that notification. The Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any
such notification.

 

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		24.3	Resignation of a Borrower

 

		(a)	The Company may request that a Borrower (other than the Company) ceases to be a Borrower by delivering
to the Agent a Resignation Letter.

 

		(b)	The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance
if:

 

		(i)	no Default is continuing or would result from the acceptance of the Resignation Letter (and the
Company has confirmed this is the case); and

 

		(ii)	the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents,

 

at which time that company shall cease
to be a Borrower and shall have no further rights or obligations under the Finance Documents.

 

		24.4	Repetition of Representations

 

Delivery of an Accession Letter constitutes
confirmation by the relevant Subsidiary that the Repeating Representations are true and correct in relation to it as at the date
of delivery as if made by reference to the facts and circumstances then existing.

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0807
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

SECTION 10

THE FINANCE PARTIES

 

		25.	Role of the Agent and the Arranger

 

		25.1	Appointment of the Agent

 

		(a)	Each other Finance Party appoints the Agent to act as its agent under and in connection with the
Finance Documents.

 

		(b)	Each other Finance Party authorises the Agent to exercise the rights, powers, authorities and discretions
specifically given to the Agent under or in connection with the Finance Documents together with any other incidental rights, powers,
authorities and discretions.

 

		25.2	Duties of the Agent

 

		(a)	Subject to paragraph (b) below, the Agent shall promptly forward to a Party the original or a copy
of any document which is delivered to the Agent for that Party by any other Party.

 

		(b)	Without prejudice to Clause 23.7 (Copy of Transfer Certificate or Assignment Agreement
to Company), paragraph (a) above shall not apply to any Transfer Certificate or to any Assignment Agreement.

 

		(c)	Except where a Finance Document specifically provides otherwise, the Agent is not obliged to review
or check the adequacy, accuracy or completeness of any document it forwards to another Party.

 

		(d)	If the Agent receives notice from a Party referring to this Agreement, describing a Default and
stating that the circumstance described is a Default, it shall promptly notify the Finance Parties.

 

		(e)	If the Agent is aware of the non-payment of any principal, interest, commitment fee or other fee
payable to a Finance Party (other than the Agent or the Arranger) under this Agreement it shall promptly notify the other Finance
Parties.

 

		(f)	The Agent's duties under the Finance Documents are solely mechanical and administrative in nature.

 

		25.3	Role of the Arranger

 

Except as specifically provided in
the Finance Documents, the Arranger has no obligations of any kind to any other Party under or in connection with any Finance Document.

 

		25.4	No fiduciary duties

 

		(a)	Nothing in this Agreement constitutes the Agent or the Arranger as a trustee or fiduciary of any
other person.

 

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		(b)	Neither the Agent nor the Arranger shall be bound to account to any Lender for any sum or the profit
element of any sum received by it for its own account.

 

		25.5	Business with the Group

 

The Agent and the Arranger may accept
deposits from, lend money to and generally engage in any kind of banking or other business with any member of the Group.

 

		25.6	Rights and discretions of the Agent

 

		(a)	The Agent may rely on:

 

		(i)	any representation, notice or document believed by it to be genuine, correct and appropriately
authorised; and

 

		(ii)	any statement made by a director, authorised signatory or employee of any person regarding any
matters which may reasonably be assumed to be within his knowledge or within his power to verify.

 

		(b)	The Agent may assume (unless it has received notice to the contrary in its capacity as agent for
the Lenders) that:

 

		(i)	no Default has occurred (unless it has actual knowledge of a Default arising under Clause 22.1
(Non-payment));

 

		(ii)	any right, power, authority or discretion vested in any Party or the Majority Lenders has not been
exercised; and

 

		(iii)	any notice or request made by the Company (other than a Utilisation Request or Selection Notice)
is made on behalf of and with the consent and knowledge of all the Obligors.

 

		(c)	The Agent may engage, pay for and rely on the advice or services of any lawyers, accountants, surveyors
or other experts.

 

		(d)	The Agent may act in relation to the Finance Documents through its personnel and agents.

 

		(e)	The Agent may disclose to any other Party any information it reasonably believes it has received
as agent under this Agreement.

 

		(f)	Notwithstanding any other provision of any Finance Document to the contrary, neither the Agent
nor the Arranger is obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of
any law or regulation or a breach of a fiduciary duty or duty of confidentiality.

 

		25.7	Majority Lenders' instructions

 

		(a)	Unless a contrary indication appears in a Finance Document, the Agent shall (i) exercise any right,
power, authority or discretion vested in it as Agent in accordance with any instructions given to it by the Majority Lenders (or,
if so instructed by the Majority Lenders, refrain from exercising any right, power, authority or discretion vested in it as Agent)
and (ii) not be liable for any act (or omission) if it acts (or refrains from taking any action) in accordance with an instruction
of the Majority Lenders.

 

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		(b)	Unless a contrary indication appears in a Finance Document, any instructions given by the Majority
Lenders will be binding on all the Finance Parties.

 

		(c)	The Agent may refrain from acting in accordance with the instructions of the Majority Lenders (or,
if appropriate, the Lenders) until it has received such security as it may require for any cost, loss or liability (together with
any associated VAT) which it may incur in complying with the instructions.

 

		(d)	In the absence of instructions from the Majority Lenders, (or, if appropriate, the Lenders) the
Agent may act (or refrain from taking action) as it considers to be in the best interest of the Lenders.

 

		(e)	The Agent is not authorised to act on behalf of a Lender (without first obtaining that Lender's
consent) in any legal or arbitration proceedings relating to any Finance Document.

 

		25.8	Responsibility for documentation

 

Neither the Agent nor the Arranger:

 

		(a)	is responsible for the adequacy, accuracy and/or completeness of any information (whether oral
or written) supplied by the Agent, the Arranger, an Obligor or any other person given in or in connection with any Finance Document;
or

 

		(b)	is responsible for the legality, validity, effectiveness, adequacy or enforceability of any Finance
Document or any other agreement, arrangement or document entered into, made or executed in anticipation of or in connection with
any Finance Document; or

 

		(c)	is responsible for any determination as to whether any information provided or to be provided to
any Finance Party is non-public information the use of which may be regulated or prohibited by applicable law or regulation relating
to insider dealing or otherwise.

 

		25.9	Exclusion of liability

 

		(a)	Without limiting paragraph (b) below (and without prejudice to the provisions of paragraph (e)
of Clause 28.11 (Disruption to Payment Systems etc.)), the Agent will not be liable (including, without limitation,
for negligence or any other category of liability whatsoever) for any action taken by it under or in connection with any Finance
Document, unless directly caused by its gross negligence or wilful misconduct.

 

		(b)	No Party (other than the Agent) may take any proceedings against any officer, employee or agent
of the Agent in respect of any claim it might have against the Agent or in respect of any act or omission of any kind by that officer,
employee or agent in relation to any Finance Document and any officer, employee or agent of the Agent may rely on this Clause subject
to Clause 1.4 (Third Party Rights) and the provisions of the Third Parties Act.

 

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		(c)	The Agent will not be liable for any delay (or any related consequences) in crediting an account
with an amount required under the Finance Documents to be paid by the Agent if the Agent has taken all necessary steps as soon
as reasonably practicable to comply with the regulations or operating procedures of any recognised clearing or settlement system
used by the Agent for that purpose.

 

		(d)	Nothing in this Agreement shall oblige the Agent or the Arranger to carry out any "know your
customer" or other checks in relation to any person on behalf of any Lender and each Lender confirms to the Agent and the
Arranger that it is solely responsible for any such checks it is required to carry out and that it may not rely on any statement
in relation to such checks made by the Agent or the Arranger.

 

		25.10	Lenders' indemnity to the Agent

 

Each Lender shall (in proportion
to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately
prior to their reduction to zero) indemnify the Agent, within three Business Days of demand, against any cost, loss or liability
(including, without limitation, for negligence or any other category of liability whatsoever) incurred by the Agent (otherwise
than by reason of the Agent's gross negligence or wilful misconduct) (or, in the case of any cost, loss or liability pursuant to
Clause 28.11 (Disruption to Payment Systems etc.) notwithstanding the Agent's negligence, gross negligence or any other
category of liability whatsoever but not including any claim based on the fraud of the Agent) in acting as Agent under the Finance
Documents (unless the Agent has been reimbursed by an Obligor pursuant to a Finance Document).

 

		25.11	Resignation of the Agent

 

		(a)	The Agent may resign and appoint one of its Affiliates acting through an office in the United Kingdom,
Sweden or Norway as successor by giving notice to the other Finance Parties and the Company.

 

		(b)	Alternatively the Agent may resign by giving 30 days' notice to the other Finance Parties and the
Company, in which case the Majority Lenders (after consultation with the Company) may appoint a successor Agent.

 

		(c)	If the Majority Lenders have not appointed a successor Agent in accordance with paragraph (b) above
within 20 days after notice of resignation was given, the retiring Agent (after consultation with the Company) may appoint a successor
Agent (acting through an office in the United Kingdom).

 

		(d)	The retiring Agent shall, at its own cost, make available to the successor Agent such documents
and records and provide such assistance as the successor Agent may reasonably request for the purposes of performing its functions
as Agent under the Finance Documents.

 

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		(e)	The Agent's resignation notice shall only take effect upon the appointment of a successor.

 

		(f)	Upon the appointment of a successor, the retiring Agent shall be discharged from any further obligation
in respect of the Finance Documents but shall remain entitled to the benefit of this Clause 25. Any successor and each of
the other Parties shall have the same rights and obligations amongst themselves as they would have had if such successor had been
an original Party.

 

		(g)	After consultation with the Company, the Majority Lenders may, by notice to the Agent, require
it to resign in accordance with paragraph (b) above. In this event, the Agent shall resign in accordance with paragraph (b) above.

 

		(h)	The Agent shall resign in accordance with paragraph (b) above (and, to the extent applicable, shall
use reasonable endeavours to appoint a successor Agent pursuant to paragraph (c) above) if on or after the date which is three
months before the earliest FATCA Application Date relating to any payment to the Agent under the Finance Documents, either:

 

		(i)	the Agent fails to respond to a request under Clause 12.7 (FATCA Information) and the Company
or a Lender reasonably believes that the Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA
Application Date;

 

		(ii)	the information supplied by the Agent pursuant to Clause 12.7 (FATCA Information) indicates
that the Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA Application Date; or

 

		(iii)	the Agent notifies the Company and the Lenders that the Agent will not be (or will have ceased
to be) a FATCA Exempt Party on or after that FATCA Application Date,

 

and (in each case) the Company or a
Lender reasonably believes that a Party will be required to make a FATCA Deduction that would not be required if the Agent were
a FATCA Exempt Party, and the Company or that Lender, by notice to the Agent, requires it to resign.

 

		25.12	Confidentiality

 

		(a)	In acting as agent for the Finance Parties, the Agent shall be regarded as acting through its agency
division which shall be treated as a separate entity from any other of its divisions or departments.

 

		(b)	If information is received by another division or department of the Agent, it may be treated as
confidential to that division or department and the Agent shall not be deemed to have notice of it.

 

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		25.13	Relationship with the Lenders

 

		(a)	Subject to Clause 23.9 (Pro rata Interest Settlement), the Agent may treat the person
shown in its records as Lender at the opening of business (in the place of the Agent's principal office as notified to the Finance
Parties from time to time) as the Lender acting through its Facility Office:

 

		(i)	entitled to or liable for any payment due under any Finance Document on that day; and

 

		(ii)	entitled to receive and act upon any notice, request, document or communication or make any decision
or determination under any Finance Document made or delivered on that day,

 

unless it has received not less than
five Business Days' prior notice from that Lender to the contrary in accordance with the terms of this Agreement.

 

		(b)	Any Lender may by notice to the Agent appoint a person to receive on its behalf all notices, communications,
information and documents to be made or despatched to that Lender under the Finance Documents. Such notice shall contain the address,
fax number and (where communication by electronic mail or other electronic means is permitted under Clause 30.6 (Electronic
communication)) electronic mail address and/or any other information required to enable the sending and receipt of information
by that means (and, in each case, the department or officer, if any, for whose attention communication is to be made) and be treated
as a notification of a substitute address, fax number, electronic mail address, department and officer by that Lender for the purposes
of Clause 30.2 (Addresses) and paragraph (a)(ii) of Clause 30.6 (Electronic communication) and the Agent
shall be entitled to treat such person as the person entitled to receive all such notices, communications, information and documents
as though that person were that Lender.

 

		25.14	Credit appraisal by the Lenders

 

Without affecting the responsibility
of any Obligor for information supplied by it or on its behalf in connection with any Finance Document, each Lender confirms to
the Agent and the Arranger that it has been, and will continue to be, solely responsible for making its own independent appraisal
and investigation of all risks arising under or in connection with any Finance Document including but not limited to:

 

		(a)	the financial condition, status and nature of each member of the Group;

 

		(b)	the legality, validity, effectiveness, adequacy or enforceability of any Finance Document and any
other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance
Document;

 

		(c)	whether that Lender has recourse, and the nature and extent of that recourse, against any Party
or any of its respective assets under or in connection with any Finance Document, the transactions contemplated by the Finance
Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection
with any Finance Document; and

 

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		(d)	the adequacy, accuracy and/or completeness of the Annual Report and any other information provided
by the Agent, any Party or by any other person under or in connection with any Finance Document, the transactions contemplated
by the Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under
or in connection with any Finance Document.

 

		25.15	Reference Banks

 

If a Reference Bank (or, if a Reference
Bank is not a Lender, the Lender of which it is an Affiliate) ceases to be a Lender, the Agent shall (in consultation with the
Company) appoint another Lender or an Affiliate of a Lender to replace that Reference Bank.

 

		25.16	Deduction from amounts payable by the Agent

 

If any Party owes an amount to the
Agent under the Finance Documents the Agent may, after giving notice to that Party, deduct an amount not exceeding that amount
from any payment to that Party which the Agent would otherwise be obliged to make under the Finance Documents and apply the amount
deducted in or towards satisfaction of the amount owed. For the purposes of the Finance Documents that Party shall be regarded
as having received any amount so deducted.

 

		25.17	Role of Reference Banks

 

		(a)	No Reference Bank is under any obligation to provide a quotation or any other information to the
Agent.

 

		(b)	No Reference Bank will be liable for any action taken by it under or in connection with any Finance
Document in its capacity as a Reference Bank, or for any Reference Bank Quotation, unless directly caused by its gross negligence
or wilful misconduct.

 

		(c)	No Party (other than the relevant Reference Bank) may take any proceedings against any officer,
employee or agent of any Reference Bank in respect of any claim it might have against that Reference Bank or in respect of any
act or omission of any kind by that officer, employee or agent in relation to any Finance Document, or to any Reference Bank Quotation,
and any officer, employee or agent of each Reference Bank may rely on this Clause subject to Clause 1.4 (Third party rights)
and the provisions of the Third Parties Act.

 

		25.18	Third party Reference Banks

 

Any Reference Bank may rely on Clause
25.17 (Role of Reference Banks), Clause 35 (Confidentiality) and paragraph (b) of Clause 34.2 (Exceptions)
subject to Clause 1.4 (Third Party Rights) and the provisions of the Third Parties Act.

 

		26.	Conduct of Business by the Finance Parties

 

No provision of this Agreement will:

 

		(a)	interfere with the right of any Finance Party to arrange its affairs (tax or otherwise) in whatever
manner it thinks fit;

 

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		(b)	oblige any Finance Party to investigate or claim any credit, relief, remission or repayment available
to it or the extent, order and manner of any claim; or

 

		(c)	oblige any Finance Party to disclose any information relating to its affairs (tax or otherwise)
or any computations in respect of Tax.

 

		27.	Sharing among the Finance Parties

 

		27.1	Payments to Finance Parties

 

		(a)	If a Finance Party (a "Recovering Finance Party") receives or recovers any amount
from an Obligor other than in accordance with Clause 28 (Payment mechanics) (a "Recovered Amount")
and applies that amount to a payment due under the Finance Documents then:

 

		(i)	the Recovering Finance Party shall, within three Business Days, notify details of the receipt or
recovery to the Agent;

 

		(ii)	the Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering
Finance Party would have been paid had the receipt or recovery been received or made by the Agent and distributed in accordance
with Clause 28 (Payment mechanics), without taking account of any Tax which would be imposed on the Agent in relation
to the receipt, recovery or distribution; and

 

		(iii)	the Recovering Finance Party shall, within three Business Days of demand by the Agent, pay to the
Agent an amount (the "Sharing Payment") equal to such receipt or recovery less any amount which the Agent determines
may be retained by the Recovering Finance Party as its share of any payment to be made, in accordance with Clause 28.6 (Partial
payments).

 

		27.2	Redistribution of payments

 

The Agent shall treat the Sharing
Payment as if it had been paid by the relevant Obligor and distribute it between the Finance Parties (other than the Recovering
Finance Party) (the "Sharing Finance Parties") in accordance with Clause 28.6 (Partial payments) towards
the obligations of that Obligor to the Sharing Finance Parties.

 

		27.3	Recovering Finance Party's rights

 

On a distribution by the Agent under
Clause 27.2 (Redistribution of payments) of a payment received by a Recovering Finance Party from an Obligor as between
the relevant Obligor and the Recovering Finance Party, an amount of the Recovered Amount equal to the Sharing Payment will be treated
as not having been paid by that Obligor.

 

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		27.4	Reversal of redistribution

 

If any part of the Sharing Payment
received or recovered by a Recovering Finance Party becomes repayable and is repaid by that Recovering Finance Party, then:

 

		(a)	each Sharing Finance Party shall, upon request of the Agent, pay to the Agent for the account of
that Recovering Finance Party an amount equal to the appropriate part of its share of the Sharing Payment (together with an amount
as is necessary to reimburse that Recovering Finance Party for its proportion of any interest on the Sharing Payment which that
Recovering Finance Party is required to pay) (the "Redistributed Amount"); and

 

		(b)	as between the relevant Obligor and each relevant Sharing Finance Party, an amount equal to the
relevant Redistributed Amount will be treated as not having been paid by that Obligor.

 

		27.5	Exceptions

 

		(a)	This Clause 27 shall not apply to the extent that the Recovering Finance Party would not,
after making any payment pursuant to this Clause, have a valid and enforceable claim against the relevant Obligor.

 

		(b)	A Recovering Finance Party is not obliged to share with any other Finance Party any amount which
the Recovering Finance Party has received or recovered as a result of taking legal or arbitration proceedings, if:

 

		(i)	it notified that other Finance Party of the legal or arbitration proceedings; and

 

		(ii)	that other Finance Party had an opportunity to participate in those legal or arbitration proceedings
but did not do so as soon as reasonably practicable having received notice and did not take separate legal or arbitration proceedings.

 

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SECTION 11

ADMINISTRATION

 

		28.	Payment Mechanics

 

		28.1	Payments to the Agent

 

		(a)	On each date on which an Obligor or a Lender is required to make a payment under a Finance Document,
that Obligor or Lender shall make the same available to the Agent (unless a contrary indication appears in a Finance Document)
for value on the due date at the time and in such funds specified by the Agent as being customary at the time for settlement of
transactions in the relevant currency in the place of payment.

 

		(b)	Payment shall be made to such account in the principal financial centre of the country of that
currency and with such bank as the Agent, in each case, specifies.

 

		28.2	Distributions by the Agent

 

Each payment received by the Agent
under the Finance Documents for another Party shall, subject to Clause 28.3 (Distributions to an Obligor), Clause 28.4
(Clawback and pre-funding) and Clause 25.16 (Deduction from amounts payable by the Agent) be made available
by the Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this Agreement (in
the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Agent by not less
than five Business Days' notice with a bank specified by that Party in the principal financial centre of the country of that currency.

 

		28.3	Distributions to an Obligor

 

The Agent may (with the consent of
the Obligor or in accordance with Clause 29 (Set-off)) apply any amount received by it for that Obligor in or towards
payment (on the date and in the currency and funds of receipt) of any amount due from that Obligor under the Finance Documents
or in or towards purchase of any amount of any currency to be so applied.

 

		28.4	Clawback and pre-funding

 

		(a)	Where a sum is to be paid to the Agent under the Finance Documents for another Party, the Agent
is not obliged to pay that sum to that other Party (or to enter into or perform any related exchange contract) until it has been
able to establish to its satisfaction that it has actually received that sum.

 

		(b)	Unless paragraph (c) below applies, if the Agent pays an amount to another Party and it proves
to be the case that the Agent had not actually received that amount, then the Party to whom that amount (or the proceeds of any
related exchange contract) was paid by the Agent shall on demand refund the same to the Agent together with interest on that amount
from the date of payment to the date of receipt by the Agent, calculated by the Agent to reflect its cost of funds.

 

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		(c)	If the Agent has notified the Lenders that it is willing to make available amounts for the account
of a Borrower before receiving funds from the Lenders then if and to the extent that the Agent does so but it proves to be the
case that it does not then receive funds from a Lender in respect of a sum which it paid to a Borrower:

 

		(i)	the Agent shall notify the Company of that Lender's identity and the Borrower to whom that sum
was made available shall on demand refund it to the Agent; and

 

		(ii)	the Lender by whom those funds should have been made available or, if that Lender fails to do so,
the Borrower to whom that sum was made available, shall on demand pay to the Agent the amount (as certified by the Agent) which
will indemnify the Agent against any funding cost incurred by it as a result of paying out that sum before receiving those funds
from that Lender.

 

		28.5	Impaired Agent

 

		(a)	If, at any time, the Agent becomes an Impaired Agent, an Obligor or a Lender which is required
to make a payment under the Finance Documents to the Agent in accordance with Clause 28.1 (Payments to the Agent) may
instead either:

 

		(i)	pay that amount direct to the required recipient(s); or

 

		(ii)	if in its absolute discretion it considers that it is not reasonably practicable to pay that amount
direct to the required recipient(s), pay that amount or the relevant part of that amount to an interest-bearing account held with
an Acceptable Bank and in relation to which no Insolvency Event has occurred and is continuing, in the name of the relevant Borrower
or the Lender making the payment (the "Paying Party") and designated as a trust account for the benefit of the
Party or Parties beneficially entitled to that payment under the Finance Documents (the "Recipient Party" or "Recipient
Parties"). In each case such payments must be made on the due date for payment under the Finance Documents.

 

		(b)	All interest accrued on the amount standing to the credit of the trust account shall be for the
benefit of the Recipient Party or the Recipient Parties pro rata to their respective entitlements.

 

		(c)	A Party which has made a payment in accordance with this Clause 28.5 shall be discharged of
the relevant payment obligation under the Finance Documents and shall not take any credit risk with respect to the amounts standing
to the credit of the trust account.

 

		(d)	A Paying Party shall, promptly upon request by a Recipient Party and to the extent that it has
been provided with the necessary information by that Recipient Party, give all requisite instructions to the bank with whom the
trust account is held to transfer the relevant amount (together with any accrued interest) to that Recipient Party.

 

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		28.6	Partial payments

 

		(a)	If the Agent receives a payment that is insufficient to discharge all the amounts then due and
payable by an Obligor under the Finance Documents, the Agent shall apply that payment towards the obligations of that Obligor under
the Finance Documents in the following order:

 

		(i)	first, in or towards payment pro rata of any unpaid amount owing to the Agent and
the Arranger under the Finance Documents;

 

		(ii)	secondly, in or towards payment pro rata of any accrued interest, fee or commission
due but unpaid under this Agreement;

 

		(iii)	thirdly, in or towards payment pro rata of any principal due but unpaid under this
Agreement; and

 

		(iv)	fourthly, in or towards payment pro rata of any other sum due but unpaid under the
Finance Documents.

 

		(b)	The Agent shall, if so directed by the Majority Lenders, vary the order set out in paragraphs (a)(ii)
to (iv) above.

 

		(c)	Paragraphs (a) and (b) above will override any appropriation made by an Obligor.

 

		28.7	No set-off by Obligors

 

All payments to be made by an Obligor
under the Finance Documents shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim.

 

		28.8	Business Days

 

		(a)	Any payment which is due to be made on a day that is not a Business Day shall be made on the next
Business Day in the same calendar month (if there is one) or the preceding Business Day (if there is not).

 

		(b)	During any extension of the due date for payment of any principal or Unpaid Sum under this Agreement
interest is payable on the principal or Unpaid Sum at the rate payable on the original due date.

 

		28.9	Currency of account

 

		(a)	Subject to paragraphs (b) and (c) below, the dollar is the currency of account and payment
for any sum due from an Obligor under any Finance Document.

 

		(b)	Each payment in respect of costs, expenses or Taxes shall be made in the currency in which the
costs, expenses or Taxes are incurred.

 

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		(c)	Any amount expressed to be payable in a currency other than dollars shall be paid in that other
currency.

 

		28.10	Change of currency

 

		(a)	Unless otherwise prohibited by law, if more than one currency or currency unit are at the same
time recognised by the central bank of any country as the lawful currency of that country, then:

 

		(i)	any reference in the Finance Documents to, and any obligations arising under the Finance Documents
in, the currency of that country shall be translated into, or paid in, the currency or currency unit of that country designated
by the Agent (after consultation with the Company); and

 

		(ii)	any translation from one currency or currency unit to another shall be at the official rate of
exchange recognised by the central bank for the conversion of that currency or currency unit into the other, rounded up or down
by the Agent (acting reasonably).

 

		(b)	If a change in any currency of a country occurs, this Agreement will, to the extent the Agent (acting
reasonably and after consultation with the Company) specifies to be necessary, be amended to comply with any generally accepted
conventions and market practice in the Relevant Interbank Market and otherwise to reflect the change in currency.

 

		28.11	Disruption to Payment Systems etc.

 

If either the Agent determines (in
its discretion) that a Disruption Event has occurred or the Agent is notified by the Company that a Disruption Event has occurred:

 

		(a)	the Agent may, and shall if requested to do so by the Company, consult with the Company with a
view to agreeing with the Company such changes to the operation or administration of the Facility as the Agent may deem necessary
in the circumstances;

 

		(b)	the Agent shall not be obliged to consult with the Company in relation to any changes mentioned
in paragraph (a) if, in its opinion, it is not practicable to do so in the circumstances and, in any event, shall have no
obligation to agree to such changes;

 

		(c)	the Agent may consult with the Finance Parties in relation to any changes mentioned in paragraph (a)
but shall not be obliged to do so if, in its opinion, it is not practicable to do so in the circumstances;

 

		(d)	any such changes agreed upon by the Agent and the Company shall (whether or not it is finally determined
that a Disruption Event has occurred) be binding upon the Parties as an amendment to (or, as the case may be, waiver of) the terms
of the Finance Documents notwithstanding the provisions of Clause 34 (Amendments and Waivers);

 

		(e)	the Agent shall not be liable for any damages, costs or losses to any person, any diminution in
value or any liability whatsoever (including, without limitation for negligence, gross negligence or any other category of liability
whatsoever but not including any claim based on the fraud of the Agent) arising as a result of its taking, or failing to take,
any actions pursuant to or in connection with this Clause 28.11; and

 

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		(f)	the Agent shall notify the Finance Parties of all changes agreed pursuant to paragraph (d)
above.

 

		29.	Set-off

 

		(a)	A Finance Party may set off any matured obligation due from an Obligor under the Finance Documents
(to the extent beneficially owned by that Finance Party) against any matured obligation owed by that Finance Party to that Obligor,
regardless of the place of payment, booking branch or currency of either obligation. If the obligations are in different currencies,
the Finance Party may convert either obligation at a market rate of exchange in its usual course of business for the purpose of
the set-off.

 

		30.	Notices

 

		30.1	Communications in writing

 

Any communication to be made under
or in connection with the Finance Documents shall be made in writing and, unless otherwise stated, may be made by fax or letter.

 

		30.2	Addresses

 

The address and fax number (and the
department or officer, if any, for whose attention the communication is to be made) of each Party for any communication or document
to be made or delivered under or in connection with the Finance Documents is:

 

		(a)	in the case of the Company, that identified with its name below;

 

		(b)	in the case of each Lender or any other Obligor, that notified in writing to the Agent on or prior
to the date on which it becomes a Party; and

 

		(c)	in the case of the Agent, that identified with its name below,

 

or any substitute address or fax
number or department or officer as the Party may notify to the Agent (or the Agent may notify to the other Parties, if a change
is made by the Agent) by not less than five Business Days' notice.

 

		30.3	Delivery

 

		(a)	Any communication or document made or delivered by one person to another under or in connection
with the Finance Documents will only be effective:

 

		(i)	if by way of fax, when received in legible form; or

 

		(ii)	if by way of letter, when it has been left at the relevant address or five Business Days after
being deposited in the post postage prepaid in an envelope addressed to it at that address,

 

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and, if a particular department or
officer is specified as part of its address details provided under Clause 30.2 (Addresses), if addressed to that department
or officer.

 

		(b)	Any communication or document to be made or delivered to the Agent will be effective only when
actually received by the Agent and then only if it is expressly marked for the attention of the department or officer identified
with the Agent's signature below (or any substitute department or officer as the Agent shall specify for this purpose).

 

		(c)	All notices from or to an Obligor shall be sent through the Agent.

 

		(d)	Any communication or document made or delivered to the Company in accordance with this Clause will
be deemed to have been made or delivered to each of the Obligors.

 

		(e)	Any communication or document which becomes effective, in accordance with paragraphs (a) to
(d) above after 5.00 p.m. in the place of receipt shall be deemed only to become effective on the following day.

 

		30.4	Notification of address and fax number

 

Promptly upon receipt of notification
of an address and fax number or change of address or fax number pursuant to Clause 30.2 (Addresses) or changing its
own address or fax number, the Agent shall notify the other Parties.

 

		30.5	Communication when Agent is Impaired Agent

 

If the Agent is an Impaired Agent
the Parties may, instead of communicating with each other through the Agent, communicate with each other directly and (while the
Agent is an Impaired Agent) all the provisions of the Finance Documents which require communications to be made or notices to be
given to or by the Agent shall be varied so that communications may be made and notices given to or by the relevant Parties directly.
This provision shall not operate after a replacement Agent has been appointed.

 

		30.6	Electronic communication

 

		(a)	Any communication to be made between any two Parties under or in connection with the Finance Documents
may be made by electronic mail or other electronic means to the extent that those two Parties agree that, unless and until notified
to the contrary, this is to be an accepted form of communication and if those two Parties:

 

		(i)	notify each other in writing of their electronic mail address and/or any other information required
to enable the sending and receipt of information by that means; and

 

		(ii)	notify each other of any change to their address or any other such information supplied by them
by not less than five Business Days' notice.

 

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		(b)	Any electronic communication made between those two Parties will be effective only when actually
received in readable form and in the case of any electronic communication made by a Party to the Agent only if it is addressed
in such a manner as the Agent shall specify for this purpose.

 

		(c)	Any electronic communication which becomes effective, in accordance with paragraph (b) above,
after 5.00 p.m. in the place of receipt shall be deemed only to become effective on the following day.

 

		30.7	English language

 

		(a)	Any notice given under or in connection with any Finance Document must be in English.

 

		(b)	All other documents provided under or in connection with any Finance Document must be:

 

		(i)	in English; or

 

		(ii)	if not in English, and if so required by the Agent, accompanied by a certified English translation
and, in this case, the English translation will prevail unless the document is a constitutional, statutory or other official document.

 

		31.	Calculations and Certificates

 

		31.1	Accounts

 

In any litigation or arbitration
proceedings arising out of or in connection with a Finance Document, the entries made in the accounts maintained by a Finance Party
are prima facie evidence of the matters to which they relate.

 

		31.2	Certificates and determinations

 

Any certification or determination
by a Finance Party of a rate or amount under any Finance Document is, in the absence of manifest error, conclusive evidence of
the matters to which it relates.

 

		31.3	Day count convention

 

Any interest, commission or fee accruing
under a Finance Document will accrue from day to day and is calculated on the basis of the actual number of days elapsed and a
year of 360 days or, in any case where the practice in the Relevant Interbank Market differs, in accordance with that market practice.

 

		32.	Partial Invalidity

 

If, at any time, any provision of
the Finance Documents is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither
the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision
under the law of any other jurisdiction will in any way be affected or impaired.

 

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		33.	Remedies and Waivers

 

No failure to exercise, nor any delay
in exercising, on the part of any Finance Party, any right or remedy under the Finance Documents shall operate as a waiver of any
such right or remedy or constitute an election to affirm any of the Finance Documents. No election to affirm any of the Finance
Documents on the part of any Finance Party shall be effective unless it is in writing. No single or partial exercise of any right
or remedy shall prevent any further or other exercise or the exercise of any other right or remedy. The rights and remedies provided
in this Agreement are cumulative and not exclusive of any rights or remedies provided by law.

 

		34.	Amendments and Waivers

 

		34.1	Required consents

 

		(a)	Subject to Clause 34.2 (Exceptions) any term of the Finance Documents may be amended
or waived only with the consent of the Majority Lenders and the Obligors and any such amendment or waiver will be binding on all
Parties.

 

		(b)	The Agent may effect, on behalf of any Finance Party, any amendment or waiver permitted by this
Clause.

 

		34.2	Exceptions

 

		(a)	An amendment or waiver that has the effect of changing or which relates to:

 

		(i)	the definition of "Majority Lenders" in Clause 1.1 (Definitions);

 

		(ii)	an extension to the date of payment of any amount under the Finance Documents other than an extension
made pursuant to Clause 6.2 (Extension Option);

 

		(iii)	an increase or reduction in the Margin or an increase or reduction in the amount of any payment
of principal, interest, fees or commission payable;

 

		(iv)	a change in currency of payment of any amount under the Finance Documents;

 

		(v)	an increase in any Commitment or the Total Commitments, an extension of any Availability Period
or any requirement that a cancellation of Commitments reduces the Commitments of the Lenders rateably under the relevant Facility;

 

		(vi)	a change to the Borrowers other than in accordance with Clause 24 (Changes to the Obligors)
or the Guarantor;

 

		(vii)	any provision which expressly requires the consent of all the Lenders;

 

		(viii)	Clause 2.3 (Finance Parties' rights and obligations), Clause 7 (Prepayment
and cancellation), Clause 12 (Tax Gross-Up and Indemnities) (but only to the extent it relates to FATCA), Clause 18.18
(Sanctions), Clause 21.14 (Sanctions), Clause 23 (Changes to the Lenders), this Clause 34, Clause 38
(Governing law) or Clause 39.1 (Jurisdiction);

 

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		(ix)	the nature or scope of the guarantee and indemnity granted
under Clause 17 (Guarantee and indemnity);

 

shall not be made without the prior
consent of all the Lenders.

 

		(b)	An amendment or waiver which relates to the rights or obligations of the Agent, the Arranger or
a Reference Bank (each in their capacity as such) may not be effected without the consent of the Agent, the Arranger or that Reference
Bank as the case may be.

 

		34.3	Replacement of Lenders

 

		(a)	If:

 

		(i)	any Lender becomes a Non-Consenting Lender (as defined in paragraph (d) below); or

 

		(ii)	an Obligor becomes obliged to repay any amount in accordance
with Clause 7.1(Illegality) or to pay additional amounts pursuant to Clause 13 (Increased costs), Clause 12.2
(Tax gross-up) or Clause 12.3 (Tax Indemnity) to any Lender;

 

then the Company may, on at least 10
Business Days' prior written notice to the Agent and such Lender, replace such Lender by requiring such Lender to (and, to the
extent permitted by law, such Lender shall) transfer pursuant to Clause 23 (Changes to the Lenders) all (and not part
only) of its rights and obligations under this Agreement to a Lender or other bank, financial institution, trust, fund or other
entity (a "Replacement Lender") selected by the Company, and which confirms its willingness to assume and does
assume all the obligations of the transferring Lender in accordance with Clause 23 (Changes to the Lenders) for a purchase
price in cash payable at the time of transfer in an amount equal to the outstanding principal amount of such Lender's participation
in the outstanding Utilisations and all accrued interest (to the extent that the Agent has not given a notification under Clause 23.9
(Pro rata interest settlement)), Break Costs and other amounts payable in relation thereto under the Finance Documents.

 

		(b)	The replacement of a Lender pursuant to this Clause 34.3 shall be subject to the following
conditions:

 

		(i)	the Company shall have no right to replace the Agent in its capacity as agent of the Finance Parties;

 

		(ii)	neither the Agent nor the Lender shall have any obligation to the Company to find a Replacement
Lender;

 

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		(iii)	in the event of a replacement of a Non-Consenting Lender such replacement must take place no later
than 30 Business Days after the date on which that Lender is deemed a Non-Consenting Lender;

 

		(iv)	in no event shall the Lender replaced under Clause 34.3 be required to pay or surrender to
such Replacement Lender any of the fees received by such Lender pursuant to the Finance Documents; and

 

		(v)	the Lender shall only be obliged to transfer its rights and obligations pursuant to paragraph (a)
above once it is satisfied that it has complied with all necessary "know your customer" or other similar checks under
all applicable laws and regulations in relation to that transfer.

 

		(c)	A Lender shall perform the checks described in paragraph (b)(v) above as soon as reasonably
practicable following delivery of a notice referred to in paragraph (a) above and shall notify the Agent and the Company when
it is satisfied that it has complied with those checks.

 

		(d)	In the event that:

 

		(i)	the Company or the Agent (at the request of the Company) has requested the Lenders to give a consent
in relation to, or to agree to a waiver or amendment of, any provisions of the Finance Documents;

 

		(ii)	the consent, waiver or amendment in question requires the approval of all the Lenders; and

 

		(iii)	Lenders whose Commitments aggregate in the case of a consent, waiver or amendment requiring the
approval of all the Lenders, more than 85 per cent. of the Total Commitments (or, if the Total Commitments have been reduced to
zero, aggregated more than 85 per cent. of the Total Commitments prior to that reduction) have consented or agreed to such waiver
or amendment, then any Lender who does not and continues not to consent or agree to such waiver or amendment shall be deemed a
 "Non-Consenting Lender".

 

		34.4	Disenfranchisement of Defaulting Lenders

 

		(a)	For so long as a Defaulting Lender has any Available Commitment, in ascertaining:

 

		(i)	the Majority Lenders; or

 

		(ii)	whether:

 

		(A)	any given percentage (including, for the avoidance of doubt, unanimity) of the Total Commitments
under the Facility; or

 

		(B)	the agreement of any specified group of Lenders,

 

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has been obtained to approve any
request for a consent, waiver, amendment or other vote under the Finance Documents, that Defaulting Lender's Commitment under the
relevant Facility will be reduced by the amount of its Available Commitment under the relevant Facility and to the extent that
that reduction results in that Defaulting Lender's Total Commitments being zero, that Defaulting Lender shall be deemed not to
be a Lender for the purposes of paragraphs (i) and (ii) above.

 

		(b)	For the purposes of this Clause 34.3, the Agent may assume that the following Lenders are
Defaulting Lenders:

 

		(i)	any Lender which has notified the Agent that it has become a Defaulting Lender;

 

		(ii)	any Lender in relation to which it is aware that any of the events or circumstances referred to
in paragraphs (a), (b) or (c) of the definition of "Defaulting Lender" has occurred,

 

unless it has received notice to the
contrary from the Lender concerned (together with any supporting evidence reasonably requested by the Agent) or the Agent is otherwise
aware that the Lender has ceased to be a Defaulting Lender.

 

		34.5	Excluded Commitments

 

If any Defaulting Lender fails to
respond to a request for a consent, waiver, amendment of or in relation to any term of any Finance Document or any other vote of
Lenders under the terms of this Agreement within 10 Business Days (unless the Company and the Agent agree to a longer time period
in relation to any request) of that request being made:

 

		(a)	its Commitment shall not be included for the purpose of calculating the Total Commitments under
the relevant Facility when ascertaining whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Total
Commitments has been obtained to approve that request; and

 

		(b)	its status as a Lender shall be disregarded for the purpose of ascertaining whether the agreement
of any specified group of Lenders has been obtained to approve that request.

 

		34.6	Replacement of a Defaulting Lender

 

		(a)	The Company may, at any time a Lender has become and continues to be a Defaulting Lender, by giving
at least 10 Business Days' prior written notice to the Agent and such Lender:

 

		(i)	replace such Lender by requiring such Lender to (and to the extent permitted by law, such Lender
shall) transfer pursuant to Clause 23 (Changes to the Lenders) all (and not part only) of its rights and obligations
under this Agreement; or

 

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		(ii)	require such Lender to (and to the extent permitted by law, such Lender shall) transfer pursuant
to Clause 23 (Changes to the Lenders) all (and not part only) of the undrawn Commitment of the Lender,

 

to a Lender or other bank, financial
institution, trust, fund or other entity (a "Replacement Non-Defaulting Lender") selected by the Company which
confirms its willingness to assume and does assume all the obligations or all the relevant obligations of the transferring Lender
in accordance with Clause 23 (Changes to the Lenders) for a purchase price in cash payable at the time of transfer
which is either:

 

		(A)	in an amount equal to the outstanding principal amount of such Lender's participation in the outstanding
Utilisations and all accrued interest (to the extent that the Agent has not given a notification under Clause 23.9 (Pro
rata interest settlement)), Break Costs and other amounts payable in relation thereto under the Finance Documents; or

 

		(B)	in an amount agreed between that Defaulting Lender, the Replacement Non-Defaulting Lender and the
Company and which does not exceed the amount described in paragraph (A) above.

 

		(b)	Any transfer of rights and obligations of a Defaulting Lender pursuant to this Clause shall
be subject to the following conditions:

 

		(i)	the Company shall have no right to replace the Agent in its capacity as agent of the Finance Parties;

 

		(ii)	neither the Agent nor the Defaulting Lender shall have any obligation to the Company to find a
Replacement Non-Defaulting Lender;

 

		(iii)	the transfer must take place no later than 10 Business Days after the notice referred to in paragraph (a)
above unless any failure to effect the transfer within that period is due to the Defaulting Lender's failure to complete the checks
referred to in paragraph (b)(iv) below;

 

		(iv)	in no event shall the Defaulting Lender be required to pay or surrender to the Replacement Non-Defaulting
Lender any of the fees received by the Defaulting Lender pursuant to the Finance Documents; and

 

		(v)	the Defaulting Lender shall only be obliged to transfer its rights and obligations pursuant to
paragraph (a) above once it is satisfied that it has complied with all necessary "know your customer" or other similar
checks under all applicable laws and regulations in relation to that transfer to the Replacement Non-Defaulting Lender.

 

		(c)	The Defaulting Lender shall perform the checks described in paragraph (b)(v) above as soon
as reasonably practicable following delivery of a notice referred to in paragraph (a) above and shall notify the Agent and
the Company when it is satisfied that it has complied with those checks.

 

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		35.	Confidentiality

 

		35.1	Confidential Information

 

Each Finance Party agrees to keep
all Confidential Information confidential and not to disclose it to anyone, save to the extent permitted by Clause 35.2 (Disclosure
of Confidential Information) and Clause 35.3 (Disclosure to numbering service providers), and to ensure that all
Confidential Information is protected with security measures and a degree of care that would apply to its own confidential information.

 

		35.2	Disclosure of Confidential Information

 

Any Finance Party may disclose:

 

		(a)	to any of its Affiliates and Related Funds and any of its or their officers, directors, employees,
professional advisers, auditors, partners and Representatives such Confidential Information as that Finance Party shall consider
appropriate if any person to whom the Confidential Information is to be given pursuant to this paragraph (a) is informed in
writing of its confidential nature and that some or all of such Confidential Information may be price-sensitive information except
that there shall be no such requirement to so inform if the recipient is subject to professional obligations to maintain the confidentiality
of the information or is otherwise bound by requirements of confidentiality in relation to the Confidential Information;

 

		(b)	to any person:

 

		(i)	to (or through) whom it assigns or transfers (or may potentially assign or transfer) all or any
of its rights and/or obligations under one or more Finance Documents and to any of that person's Affiliates, Related Funds, Representatives
and professional advisers;

 

		(ii)	with (or through) whom it enters into (or may potentially enter into), whether directly or indirectly,
any sub-participation in relation to, or any other transaction under which payments are to be made or may be made by reference
to, one or more Finance Documents and/or one or more Obligors and to any of that person's Affiliates, Related Funds, Representatives
and professional advisers;

 

		(iii)	appointed by any Finance Party or by a person to whom sub paragraph (b)(i) or (ii) above applies
to receive communications, notices, information or documents delivered pursuant to the Finance Documents on its behalf (including,
without limitation, any person appointed under paragraph (b) of Clause 25.13 (Relationship with the Lenders));

 

		(iv)	who invests in or otherwise finances (or may potentially invest in or otherwise finance), directly
or indirectly, any transaction referred to in paragraph (b)(i) or (ii) above;

 

		(v)	to whom information is required or requested to be disclosed by any court of competent jurisdiction
or any governmental, banking, taxation or other regulatory authority or similar body, the rules of any relevant stock exchange
or pursuant to any applicable law or regulation;

 

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		(vi)	to whom information is required to be disclosed in connection with, and for the purposes of, any
litigation, arbitration, administrative or other investigations, proceedings or disputes;

 

		(vii)	to whom or for whose benefit that Finance Party charges, assigns or otherwise creates Security
(or may do so) pursuant to Clause 23.8 (Security over Lenders' rights);

 

		(viii)	who is a Party; or

 

		(ix)	with the consent of the Company;

 

in each case, such Confidential Information
as that Finance Party shall consider appropriate if:

 

		(A)	in relation to paragraphs (b)(i), (b)(ii) and (b)(iii) above, the person to whom the Confidential
Information is to be given has entered into a Confidentiality Undertaking except that there shall be no requirement for a Confidentiality
Undertaking if the recipient is a professional adviser and is subject to professional obligations to maintain the confidentiality
of the Confidential Information;

 

		(B)	in relation to paragraph (b)(iv) above, the person to whom the Confidential Information is
to be given has entered into a Confidentiality Undertaking or is otherwise bound by requirements of confidentiality in relation
to the Confidential Information they receive and is informed that some or all of such Confidential Information may be price-sensitive
information;

 

		(C)	in relation to paragraphs (b)(v), (b)(vi) and (b)(vii) above, the person to whom the Confidential
Information is to be given is informed of its confidential nature and that some or all of such Confidential Information may be
price-sensitive information; and

 

		(D)	in relation to paragraphs (b)(vi) and (b)(vii) above, the Company is informed of any such disclosure;

 

		(c)	to any person appointed by that Finance Party or by a person to whom paragraph (b)(i) or (b)(ii)
above applies to provide administration or settlement services in respect of one or more of the Finance Documents including without
limitation, in relation to the trading of participations in respect of the Finance Documents, such Confidential Information as
may be required to be disclosed to enable such service provider to provide any of the services referred to in this paragraph (c)
if the service provider to whom the Confidential Information is to be given has entered into a confidentiality agreement substantially
in the form of the LMA Master Confidentiality Undertaking for Use With Administration/Settlement Service Providers or such other
form of confidentiality undertaking agreed between the Company and the relevant Finance Party;

 

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		(d)	to any rating agency (including its professional advisers) such Confidential Information as may
be required to be disclosed to enable such rating agency to carry out its normal rating activities in relation to the Finance Documents
and/or the Obligors if the rating agency to whom the Confidential Information is to be given is informed of its confidential nature
and that some or all of such Confidential Information may be price-sensitive information,

 

provided that in all cases
the prior consent of the Company shall be required for disclosure of Confidential Information by a Finance Party to a Fund or to
any commercial competitor of any member of the Group.

 

		35.3	Disclosure to numbering service providers

 

		(a)	Any Finance Party may disclose to any national or international numbering service provider appointed
by that Finance Party to provide identification numbering services in respect of this Agreement, the Facility and/or one or more
Obligors the following information:

 

		(i)	names of Obligors;

 

		(ii)	country of domicile of Obligors;

 

		(iii)	place of incorporation of Obligors;

 

		(iv)	date of this Agreement;

 

		(v)	the names of the Agent and the Arranger;

 

		(vi)	date of each amendment and restatement of this Agreement;

 

		(vii)	amount of Total Commitments;

 

		(viii)	currencies of the Facility;

 

		(ix)	type of Facility;

 

		(x)	ranking of Facility;

 

		(xi)	Termination Date and the Extended Termination Date (if applicable);

 

		(xii)	changes to any of the information previously supplied pursuant to paragraphs (i) to (xi) above;
and

 

		(xiii)	such other information agreed between such Finance Party and the Company,

 

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to enable such numbering service provider
to provide its usual syndicated loan numbering identification services.

 

		(b)	The Parties acknowledge and agree that each identification number assigned to this Agreement, the
Facility and/or one or more Obligors by a numbering service provider and the information associated with each such number may be
disclosed to users of its services in accordance with the standard terms and conditions of that numbering service provider.

 

		(c)	The Company represents that none of the information set out in paragraphs (a)(i) to (a)(xiii)
of paragraph (a) above is, nor will at any time be, unpublished price-sensitive information.

 

		(d)	The Agent shall notify the Company and the other Finance Parties of:

 

		(i)	the name of any numbering service provider appointed by the Agent in respect of this Agreement,
the Facility and/or one or more Obligors; and

 

		(ii)	the number or, as the case may be, numbers assigned to this Agreement, the Facility and/or one
or more Obligors by such numbering service provider.

 

		35.4	Entire agreement

 

This Clause 35 (Confidentiality)
constitutes the entire agreement between the Parties in relation to the obligations of the Finance Parties under the Finance Documents
regarding Confidential Information and supersedes any previous agreement, whether express or implied, regarding Confidential Information.

 

		35.5	Inside information

 

Each of the Finance Parties acknowledges
that some or all of the Confidential Information is or may be price-sensitive information and that the use of such information
may be regulated or prohibited by applicable legislation including securities law relating to insider dealing and market abuse
and each of the Finance Parties undertakes not to use any Confidential Information for any unlawful purpose.

 

		35.6	Notification of disclosure

 

Each of the Finance Parties agrees
(to the extent permitted by law and regulation) to inform the Company:

 

		(a)	of the circumstances of any disclosure of Confidential Information made pursuant to paragraph (b)(v)
of Clause 35.2 (Disclosure of Confidential Information) except where such disclosure is made to any of the persons
referred to in that paragraph during the ordinary course of its supervisory or regulatory function; and

 

		(b)	upon becoming aware that Confidential Information has been disclosed in breach of this Clause 35
(Confidentiality).

 

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	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		35.7	Continuing obligations

 

The obligations in this Clause 35
(Confidentiality) are continuing and, in particular, shall survive and remain binding on each Finance Party for a period
of twelve months from the earlier of:

 

		(a)	the date on which all amounts payable by the Obligors under or in connection with this Agreement
have been paid in full and all Commitments have been cancelled or otherwise cease to be available; and

 

		(b)	the date on which such Finance Party otherwise ceases to be a Finance Party.

 

		36.	Confidentiality of Reference Bank Rates

 

		36.1	Confidentiality and disclosure

 

		(a)	The Agent agrees to keep each Reference Bank Rate confidential and not to disclose it to anyone,
save to the extent permitted by paragraphs (b), (c) and (d) below.

 

		(b)	The Agent may disclose any Reference Bank Quotation to any person appointed by it to provide administration
services in respect of one or more of the Finance Documents to the extent necessary to enable such service provider to provide
those services if the service provider to whom that information is to be given has entered into a confidentiality agreement substantially
in the form of the LMA Master Confidentiality Undertaking for Use With Administration/Settlement Service Providers or such other
form of confidentiality undertaking agreed between the Agent and the relevant Lender or Reference Bank, as the case may be.

 

		(c)	The Agent may disclose any Reference Bank Quotation to:

 

		(i)	any of its Affiliates and any of its or their officers, directors, employees, professional advisers,
auditors, partners and Representatives if any person to whom that Reference Bank Quotation is to be given pursuant to this paragraph
(i) is informed in writing of its confidential nature and that it may be price-sensitive information except that there shall be
no such requirement to so inform if the recipient is subject to professional obligations to maintain the confidentiality of that
Reference Bank Quotation or is otherwise bound by requirements of confidentiality in relation to it;

 

		(ii)	any person to whom information is required or requested to be disclosed by any court of competent
jurisdiction or any governmental, banking, taxation or other regulatory authority or similar body, the rules of any relevant stock
exchange or pursuant to any applicable law or regulation if the person to whom that Reference Bank Quotation is to be given is
informed in writing of its confidential nature and that it may be price-sensitive information except that there shall be no requirement
to so inform if, in the opinion of the Agent, as the case may be, it is not practicable to do so in the circumstances;

 

    	 	- 124 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0833
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		(iii)	any person to whom information is required to be disclosed in connection with, and for the purposes
of, any litigation, arbitration, administrative or other investigations, proceedings or disputes if the person to whom that Reference
Bank Quotation is to be given is informed in writing of its confidential nature and that it may be price-sensitive information
except that there shall be no requirement to so inform if, in the opinion of the Agent, as the case may be, it is not practicable
to do so in the circumstances; and

 

		(iv)	any person with the consent of the relevant Reference Bank, as the case may be.

 

		(d)	The Agent's obligations in this Clause 36 relating to Reference Bank Quotations are without prejudice
to its obligations to make notifications under Clause 8.4 (Notification of rates of interest) provided that (other than
pursuant to paragraph (b)(i) above) the Agent shall not include the details of any individual Reference Bank Quotation as part
of any such notification.

 

		36.2	Other obligations

 

		(a)	The Agent acknowledges that each Reference Bank Quotation is or may be price-sensitive information
and that its use may be regulated or prohibited by applicable legislation including securities law relating to insider dealing
and market abuse and the Agent undertakes not to use any Reference Bank Quotation for any unlawful purpose.

 

		(b)	The Agent agrees (to the extent permitted by law and regulation) to inform the relevant Reference
Bank, as the case may be:

 

		(i)	of the circumstances of any disclosure made pursuant to paragraph (c)(ii) of Clause 36.1 (Confidentiality
and disclosure) above except where such disclosure is made to any of the persons referred to in that paragraph during the ordinary
course of its supervisory or regulatory function; and

 

		(ii)	upon becoming aware that any information has been disclosed in breach of this Clause 36.

 

		37.	Counterparts

 

Each Finance Document may be executed
in any number of counterparts, and this has the same effect as if the signatures on the counterparts were on a single copy of the
Finance Document.

 

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SECTION 12

GOVERNING LAW AND ENFORCEMENT

 

		38.	Governing Law

 

This Agreement and any non-contractual
obligations arising out of or in connection with it are governed by English law.

 

		39.	Enforcement

 

		39.1	Jurisdiction

 

		(a)	The courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection
with this Agreement (including a dispute relating to the existence, validity or termination of this Agreement or the consequences
of its nullity or any non-contractual obligations arising out of or in connection with this Agreement) (a "Dispute").

 

		(b)	The Parties agree that the courts of England are the most appropriate and convenient courts to
settle Disputes and accordingly no Party will argue to the contrary.

 

		(c)	This Clause 39.1 (Jurisdiction) is for the benefit of the Finance Parties only. As
a result, and notwithstanding paragraph (a) of Clause 39.1, any Finance Party may take proceedings relating to a Dispute
in any other courts with jurisdiction. To the extent allowed by law, the Finance Parties may take concurrent proceedings in any
number of jurisdictions.

 

		39.2	Service of process

 

Each Obligor agrees that the documents
which start any proceedings in relation to any Finance Document, and any other documents required to be served in connection with
those proceedings, may be served on it by being delivered to the Company at 5th Floor, 610 Chiswick High Road, London,
W4 5RU, United Kingdom or to such other address in England and Wales as each such Obligor may specify by notice in writing to the
Agent. Nothing in this paragraph shall affect the right of any Finance Party to serve process in any other manner permitted
by law. This Clause applies to proceedings in England and proceedings elsewhere.

 

		39.3	Waiver of Immunity

 

Each Obligor waives generally all
immunity it or its assets or revenues may otherwise have in any jurisdiction, including immunity in respect of:

 

		(a)	the giving of any relief by way of injunction or order for specific performance or for the recovery
of assets or revenues; and

 

		(b)	the issue of any process against its assets or revenues for the enforcement of a judgment or, in
an action in rem, for the arrest, detention or sale of any of its assets and revenues.

 

This Agreement has been entered into on
the date stated at the beginning of this Agreement.

 

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Schedule
1

The
Original Parties

 

Part
I

The
Original Obligors

 

	
        

        Name of Original Borrower
	 	Registration number (or

                                               equivalent, if any)

	 	 	 
	
        Millicom International Cellular S.A.
	 	 
	 	 	 
	Name of Guarantor	 	Registration number (or

                                   equivalent, if any)

	 	 	 
	Millicom International Cellular S.A.	 	 

 

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Part
II

The
Original Lenders

 

	Name of Original Lender	 	Commitment (USD)	 
	BNP Paribas Fortis SA/NV	 	 	250,000,000.00	 
	Goldman Sachs Bank USA	 	 	250,000,000.00	 
	J.P. Morgan Securities plc	 	 	250,000,000.00	 
	The Bank of Nova Scotia	 	 	250,000,000.00	 
	TOTAL	 	 	1,000,000,000.00	 

 

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Schedule
2

Conditions
Precedent

 

Part
I

Conditions
Precedent to Initial Utilisation

 

		1.	Original Obligors

 

		(a)	A copy of the constitutional documents of each Original Obligor.

 

		(b)	A copy of a resolution of the board of directors of each Original Obligor:

 

		(i)	approving the terms of, and the transactions contemplated by, the Finance Documents to which it
is a party and resolving that it execute the Finance Documents to which it is a party;

 

		(ii)	approving the transactions contemplated by the Acquisition;

 

		(iii)	authorising a specified person or persons to execute the Finance Documents to which it is a party
on its behalf; and

 

		(iv)	authorising a specified person or persons, on its behalf, to sign and/or despatch all documents
and notices (including, if relevant, any Utilisation Request and Selection Notice) to be signed and/or despatched by it under or
in connection with the Finance Documents to which it is a party.

 

		(c)	A specimen of the signature of each person authorised by the resolution referred to in paragraph (b)
above.

 

		(d)	A certificate of the Company (signed by an authorised signatory) confirming that borrowing or guaranteeing,
as appropriate, the Total Commitments would not cause any borrowing, guaranteeing or similar limit binding on any Original Obligor
to be exceeded.

 

		(e)	A certificate of an authorised signatory of the relevant Original Obligor certifying that each
copy document relating to it specified in this Part I of this Schedule 2 is correct, complete and in full force and effect as at
a date no earlier than the date of this Agreement.

 

		2.	Legal opinions

 

		(a)	A legal opinion of Clifford Chance LLP, legal advisers to the Arranger and the Agent in England,
substantially in the form distributed to the Original Lenders prior to signing this Agreement.

 

		(b)	A legal opinion of Hogan Lovells (Luxembourg) LLP, legal advisers to the Company in Luxembourg,
substantially in the form distributed to the Original Lenders prior to signing this Agreement.

 

		(c)	If an Original Obligor is incorporated in a jurisdiction other than England and Wales, or Luxembourg,
a legal opinion of the legal advisers to the Arranger and the Agent in the relevant jurisdiction, substantially in the form distributed
to the Original Lenders prior to signing this Agreement.

 

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	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		3.	Other documents and evidence

 

		(a)	This Agreement, the Fee Letters and the Engagement Letter each duly executed by the Obligors party
to it.

 

		(b)	The 2017 Annual Report.

 

		(c)	A Group structure chart which shows the Group as at the date of this Agreement.

 

		(d)	A copy of any other Authorisation or other document, opinion or assurance which the Agent reasonably
considers to be necessary or desirable (if it has notified the Company accordingly) in connection with the entry into and performance
of the transactions contemplated by any Finance Document or for the validity and enforceability of any Finance Document.

 

		(e)	The Original Financial Statements of each Original Obligor.

 

		(f)	Evidence that the fees, costs and expenses then due from the Company pursuant to Clause 11
(Fees) and Clause 16 (Costs and expenses) have been paid or will be paid by the first Utilisation Date (provided
that invoices in respect of any costs and expenses (including, without limitation, legal fees) have been received by the Company
at least three Business Days prior to the first Utilisation Date).

 

		(g)	Evidence satisfactory to the Agent that each Lender has carried out and is satisfied with the results
of all "know your customer" or other similar checks required in respect of the Original Obligors.

 

		(h)	A copy of the Acquisition Agreement for information purposes only and without a right of approval
for the Agent or any of the other Finance Parties.

 

		(i)	A certificate of the Company (signed by an authorised signatory) certifying that (i) no material
terms and conditions of the Acquisition Agreement have been amended or waived without the consent of the Arrangers (who shall act
reasonably in giving consent) except to the extent it does not materially and adversely affect the interests of the Lenders as
a whole under the Finance Documents; and (ii) the amounts to be drawn under the Facility together with any other amounts available
to the Group are sufficient to pay the purchase price under the Acquisition Agreement.

 

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Part
II

Conditions
Precedent required to be delivered

by
an Additional Borrower

 

		1.	An Accession Letter, duly executed by the Additional Borrower and the Company.

 

		2.	A copy of the constitutional documents of the Additional Borrower.

 

		3.	A copy of a resolution of the board of directors of the Additional Borrower:

 

		(a)	approving the terms of, and the transactions contemplated by, the Accession Letter and the Finance
Documents and resolving that it execute the Accession Letter;

 

		(b)	authorising a specified person or persons to execute the Accession Letter on its behalf; and

 

		(c)	authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents
and notices (including, in relation to an Additional Borrower, any Utilisation Request or Selection Notice) to be signed and/or
despatched by it under or in connection with the Finance Documents.

 

		4.	A specimen of the signature of each person authorised by the resolution referred to in paragraph 3
above.

 

		5.	A certificate of the Additional Borrower (signed by an authorised signatory) confirming that borrowing
or guaranteeing, as appropriate, the Total Commitments would not cause any borrowing, guaranteeing or similar limit binding on
it to be exceeded.

 

		6.	A certificate of an authorised signatory of the Additional Borrower certifying that each copy document
listed in this Part II of Schedule 2 is correct, complete and in full force and effect as at a date no earlier than the date of
the Accession Letter.

 

		7.	A copy of any other Authorisation or other document, opinion or assurance which the Agent considers
to be necessary or desirable in connection with the entry into and performance of the transactions contemplated by the Accession
Letter or for the validity and enforceability of any Finance Document.

 

		8.	If available, the latest audited financial statements of the Additional Borrower.

 

		9.	A legal opinion of the legal advisers to the Agent, addressed to the Finance Parties.

 

		10.	If the Additional Borrower is incorporated in a jurisdiction other than England and Wales, a legal
opinion of the legal advisers to the Agent in the jurisdiction in which the Additional Borrower is incorporated (or by legal advisers
to the Company if it is standard market practice in that jurisdiction for the Company's legal advisers to provide such opinions).

 

		11.	If the Additional Borrower is incorporated in a jurisdiction other than England and Wales, evidence
that any process agent referred to in Clause 39.2 (Service of process) has accepted its appointment in relation to
the Additional Borrower.

 

		12.	Evidence satisfactory to the Agent that each Lender has carried out and is satisfied with the results
of all "know your customer" or other similar checks required in respect of the Additional Obligor.

 

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Schedule
3

Requests

 

Part
I

Utilisation
Request

 

		From:	[name of relevant Borrower]

 

		To:	The Bank of Nova Scotia as Agent

 

		Dated:	

 

Dear Sirs

 

Millicom International Cellular S.A. –
US$ 1,000,000,000 Facility Agreement

dated [●] 2018 (the "Agreement")

 

		1.	We refer to the Agreement. This is a Utilisation Request. Terms defined in the Agreement have the
same meaning in this Utilisation Request unless given a different meaning in this Utilisation Request.

 

		2.	We wish to borrow a Loan on the following terms:

 

	Proposed Utilisation Date:	[•] (or, if that is not a Business Day, the next Business Day)
	 	 
	Facility to be utilised:	The Facility
	 	 
	Currency of Loan:	[•]
	 	 
	Amount:	[•] or, if less, the Available Facility
	 	 
	Interest Period:	[•]
	 	 
	Net Leverage Ratio1	 

 

		3.	We confirm that each condition specified in Clause 4.2 (Further conditions precedent)
[or, to the extent applicable, Clause 4.3 (Certain Funds Period)] of the Agreement is satisfied on the date of this
Utilisation Request.

 

		4.	The proceeds of this Loan should be credited to [account].

 

		5.	This Utilisation Request is irrevocable.

 

Yours faithfully

 

_________________________________

authorised signatory for and on behalf of

[name of relevant Borrower]

 

 

		1	Based on most recently delivered financial statements/Compliance
Certificate.

 

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Part
II

Selection
Notice

 

		From:	[name of relevant Borrower]

 

		To:	The Bank of Nova Scotia as Agent

 

Dated:

 

Dear Sirs

 

Millicom International
Cellular S.A. – US$ 1,000,000,000 Facility Agreement dated [●]
2018 (the "Agreement")

 

		1.	We refer to the Agreement. This is a Selection Notice. Terms defined in the Agreement have the
same meaning in this Selection Notice unless given a different meaning in this Selection Notice.

 

		2.	We refer to the following Loan[s] with
                                         an Interest Period ending on [                                  ]
                                         *.

 

		3.	[We request that the above Loan[s] be divided into [             ]
Loans with the following amounts and Interest Periods:] **

 

or

 

[We request that the next Interest
Period for the above Loan[s] is [                    ]].***

 

		4.	This Selection Notice is irrevocable.

 

Yours faithfully

 

_________________________________

authorised signatory for

[the Company on behalf of]

[name of relevant Borrower]

 

 

 

		*	Insert details of all Loans which have an Interest Period
ending on the same date.

 

		**	Use this option if division of Loans is requested.

 

		***	Use
this option if sub-division is not required.

 

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Schedule
4

Form
of Transfer Certificate

 

		To:	The Bank of Nova Scotia as Agent

 

		From:	[The Existing Lender] (the "Existing Lender") and [The New Lender]
(the "New Lender")

 

		Dated:	

 

Millicom International Cellular S.A. –
US$ 1,000,000,000 Facility Agreement

dated [●] 2018 (the "Agreement")

 

		1.	We refer to the Agreement. This is a Transfer Certificate. Terms defined in the Agreement have
the same meaning in this Transfer Certificate unless given a different meaning in this Transfer Certificate.

 

		2.	We refer to Clause 23.5 (Procedure for transfer):

 

		(a)	The Existing Lender and the New Lender agree to the Existing Lender transferring to the New Lender
by novation, and in accordance with Clause 23.5 (Procedure for transfer), all of the Existing Lender's rights and obligations
under the Agreement and other Finance Documents which relate to that portion of the Existing Lender's Commitment(s) and participations
in Loans under the Agreement as specified in the Schedule.

 

		(b)	The proposed Transfer Date is [•].

 

		(c)	The Facility Office and address, fax number and attention details for notices of the New Lender
for the purposes of Clause 30.2 (Addresses) are set out in the Schedule.

 

		3.	The New Lender expressly acknowledges the limitations on the Existing Lender's obligations set
out in paragraph (c) of Clause 23.4 (Limitation of responsibility of Existing Lenders).

 

		[5/6].	This Transfer Certificate may be executed in any number of counterparts and this has the same effect
as if the signatures on the counterparts were on a single copy of this Transfer Certificate.

 

		[6/7].	This Transfer Certificate and any non-contractual obligations arising out of or in connection with
it are governed by English law.

 

		[7/8].	This Transfer Certificate has been entered into on the date stated at the beginning of this Transfer
Certificate.

 

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THE SCHEDULE

 

Commitment/rights and obligations to be transferred

 

[insert relevant details]

 

[Facility Office address, fax number and
attention details for notices and account details for payments,]

 

	For and on behalf of	 	For and on behalf of
	[Existing Lender]	 	[New Lender]
	 	 	 
	By:	 	By:

 

This Transfer Certificate is accepted by the
Agent and the Transfer Date is confirmed as [•].

 

	For and on behalf of	 	 
	[●]	 	 
	 	 	 
	By:	 	 

 

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Schedule
5

Form
of Assignment Agreement

 

		To:	The Bank of Nova Scotia as Agent and Millicom International Cellular S.A. as Company, for and on
behalf of each Obligor

 

		From:	[the Existing Lender] (the "Existing Lender") and [the New Lender]
(the "New Lender")

 

		Dated:	

 

Millicom International Cellular S.A. –
US$ 1,000,000,000 Facility Agreement

dated [●] 2018 (the "Agreement")

 

		1.	We refer to the Agreement. This is an Assignment Agreement. Terms defined in the Agreement have
the same meaning in this Assignment Agreement unless given a different meaning in this Assignment Agreement.

 

		2.	We refer to Clause 23.6 (Procedure for assignment):

 

		(a)	The Existing Lender assigns absolutely to the New Lender all the rights of the Existing Lender
under the Agreement and the other Finance Documents which relate to that portion of the Existing Lender's Commitment(s) and participations
in Loans under the Agreement as specified in the Schedule.

 

		(b)	The Existing Lender is released from all the obligations of the Existing Lender which correspond
to that portion of the Existing Lender's Commitment(s) and participations in Loans under the Agreement specified in the Schedule.

 

		(c)	The New Lender becomes a Party as a Lender and is bound by obligations equivalent to those from
which the Existing Lender is released under paragraph (b) above.2

 

		3.	The proposed Transfer Date is [•].

 

		4.	On the Transfer Date the New Lender becomes Party to the Finance Documents as a Lender.

 

		5.	The Facility Office and address, fax number and attention details for notices of the New Lender
for the purposes of Clause 30.2 (Addresses) are set out in the Schedule.

 

		6.	The New Lender expressly acknowledges the limitations on the Existing Lender's obligations set
out in paragraph (c) of Clause 23.4 (Limitation of responsibility of Existing Lenders).

 

		[8/9].	This Assignment Agreement acts as notice to the Agent (on behalf of each Finance Party) and, upon
delivery in accordance with Clause 23.7 (Copy of Transfer Certificate or Assignment Agreement to Company), to the Company
(on behalf of each Obligor) of the assignment referred to in this Assignment Agreement.

 

 

		2	If
the Assignment Agreement is used in place of a Transfer Certificate in order to avoid a novation of rights/obligations for reasons
relevant to a civil jurisdiction, local law advice should be sought to check the suitability of the Assignment Agreement due to
the assumption of obligations contained in paragraph 2(c).

 

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		[9/10].	This Assignment Agreement may be executed in any number of counterparts and this has the same effect
as if the signatures on the counterparts were on a single copy of this Assignment Agreement.

 

		[10/11].	This Assignment Agreement and any non-contractual obligations
arising out of or in connection with it are governed by English law.

 

		[11/12].	This Assignment Agreement has been entered into on the
date stated at the beginning of this Assignment Agreement.

 

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THE SCHEDULE

 

Rights to be assigned and obligations to
be released and undertaken

 

[insert relevant details]

 

[Facility office address, fax number and
attention details for notices and account details for payments]

 

	For and on behalf of	 	For and on behalf of
	[Existing Lender]	 	[New Lender]
	 	 	 
	By:	 	By:

 

This Assignment Agreement is accepted by the
Agent and the Transfer Date is confirmed as [•].

 

Signature of this Assignment Agreement by the
Agent constitutes confirmation by the Agent of receipt of notice of the assignment referred to herein, which notice the Agent receives
on behalf of each Finance Party.

 

	For and on behalf of	 	 
	[●]	 	 
	 	 	 
	By:	 	 

 

    	 	- 138 -	 

    
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Schedule
6

Form
of Accession Letter

 

		To:	The Bank of Nova Scotia as Agent

 

		From:	[Subsidiary] and Millicom International Cellular S.A.

 

		Dated:	

 

Dear Sirs

 

Millicom International Cellular S.A. –
US$ 1,000,000,000 Facility Agreement

dated [●] 2018 (the "Agreement")

 

		1.	We refer to the Agreement. This is an Accession Letter. Terms defined in the Agreement have the
same meaning in this Accession Letter unless given a different meaning in this Accession Letter.

 

		2.	[Subsidiary] agrees to become an Additional Borrower and to be bound by the terms of the
Agreement as an Additional Borrower pursuant to Clause 24.2 (Additional Borrowers) of the Agreement. [Subsidiary]
is a company duly incorporated under the laws of [name of relevant jurisdiction].

 

		3.	[The Company confirms that no Default is continuing or would occur as a result of [Subsidiary]
becoming an Additional Borrower.]3

 

		4.	[Subsidiary's] administrative details are as follows:

 

Address:

 

Fax No:

 

Attention:

 

		5.	This Accession Letter and any non-contractual obligations arising out of or in connection with
it are governed by English law.

 

[This Accession Letter is entered into by deed.]

 

	For and on behalf of	 	For and on behalf of
	Millicom International Cellular S.A.	 	[Subsidiary]
	 	 	 
	By:	 	By:

 

 

		3	Include
in the case of an Additional Borrower.

 

    	 	- 139 -	 

    
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Schedule
7

Form
of Resignation Letter

 

		To:	The Bank of Nova Scotia as Agent

 

		From:	[resigning Borrower] and Millicom International Cellular S.A.

 

		Dated:	

 

Dear Sirs

 

Millicom International Cellular S.A. –
US$ 1,000,000,000 Facility Agreement

dated [●] 2018 (the "Agreement")

 

		1.	We refer to the Agreement. This is a Resignation Letter. Terms defined in the Agreement have the
same meaning in this Resignation Letter unless given a different meaning in this Resignation Letter.

 

		2.	Pursuant to Clause 24.3 (Resignation of a Borrower), we request that [resigning
Borrower] be released from its obligations as a Borrower under the Agreement.

 

		3.	We confirm that:

 

		(a)	no Default is continuing or would result from the acceptance of this request; and

 

		(b)	[•]*

 

		4.	This Resignation Letter and any non-contractual obligations arising out of or in connection with
it are governed by English law.

 

	For and on behalf of	 	For and on behalf of
	Millicom International Cellular S.A.	 	[Subsidiary]
	 	 	 
	By:	 	By:

 

NOTES:

 

		*	Insert any other conditions required by the Facility Agreement.

 

    	 	- 140 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0849
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

Schedule
8

Form
of Compliance Certificate

 

		To:	The Bank of Nova Scotia as Agent

 

		From:	Millicom International Cellular S.A.

 

		Dated:	

 

Dear Sirs

 

Millicom International Cellular S.A. –
US$ 1,000,000,000 Facility Agreement

dated [●] 2018 (the " Agreement")

 

		1.	We refer to the Agreement. This is a Compliance Certificate. Terms defined in the Agreement have
the same meaning when used in this Compliance Certificate unless given a different meaning in this Compliance Certificate.

 

		2.	We confirm that:

 

		(a)	in respect of the Relevant Period ending on [•], Consolidated Net Debt for such Relevant Period
was [•] and Consolidated EBITDA was [•]. Therefore Net Leverage Ratio was [•] and the covenant contained in paragraph
(a) of Clause 20.2 (Financial Condition) [has/has not] been complied with; and

 

		(b)	in respect of the Relevant Period ending on [•], Consolidated EBITDA for such Relevant Period
was [•] and Consolidated Interest Expense was [•]. Therefore Interest Cover was [•] and the covenant contained in
paragraph (b) of Clause 20.2 (Financial Condition)) [has/has not] been complied with.

 

		3.	[We confirm that no Default is continuing.]*

 

	Signed:	 	 	 
	 	Director	 	Director
	 	of	 	of
	 	Company	 	Company

 

NOTES:

 

		*	If this statement cannot be made, the certificate should
identify any Default that is continuing and the steps, if any, being taken to remedy it.

 

    	 	- 141 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0850
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

Schedule
9

LMA
Form of Confidentiality Undertaking

 

THIS MASTER CONFIDENTIALITY UNDERTAKING
is dated [•] and made between:

 

		(1)	[•]; and

 

		(2)	[•].

 

Either party (in this capacity the "Purchaser")
may from time to time consider acquiring an interest from the other party (in this capacity the "Seller") in certain
Agreements which, subject to the Agreements, may be by way of novation, assignment, the entering into, whether directly or indirectly,
of a sub-participation or any other transaction under which payments are to be made or may be made by reference to one or more
relevant Finance Documents and/or one or more relevant Obligors or by way of investing in or otherwise financing, directly or indirectly,
any such novation, assignment, sub-participation or other transaction (each an "Acquisition"). In consideration
of the Seller agreeing to make available to the Purchaser certain information in relation to each Acquisition it is agreed as follows:

 

		1.	CONFIDENTIALITY UNDERTAKING

 

The Purchaser undertakes in relation
to each Acquisition made or which may be made by it (a) to keep all Confidential Information which the Seller supplies to the Purchaser
in relation to that Acquisition confidential and not to disclose it to anyone, save to the extent permitted by paragraph 2
below and to ensure that all Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition
is protected with security measures and a degree of care that would apply to the Purchaser's own confidential information and (b)
until that Acquisition is completed, to use the Confidential Information which the Seller supplies to the Purchaser in relation
to that Acquisition only for the Permitted Purpose.

 

		2.	PERMITTED DISCLOSURE

 

The Purchaser may disclose in relation
to each Acquisition made or which may be made by it:

 

		2.1	to any of its Affiliates and any of its or their officers, directors, employees, professional advisers
and auditors such Confidential Information as the Purchaser shall consider appropriate if any person to whom such Confidential
Information is to be given pursuant to this paragraph 2.1 is informed in writing of its confidential nature and that some
or all of such Confidential Information may be price-sensitive information except that there shall be no such requirement to so
inform if the recipient is subject to professional obligations to maintain the confidentiality of the information or is otherwise
bound by requirements of confidentiality in relation to such Confidential Information;

 

		2.2	subject to the requirements of the relevant Agreement, to any person:

 

		(a)	to (or through) whom the Purchaser assigns or transfers (or may potentially assign or transfer)
all or any of its rights and/or obligations which it may acquire under that Agreement such Confidential Information which the Seller
supplies to the Purchaser in relation to that Acquisition as the Purchaser shall consider appropriate if the person to whom such
Confidential Information is to be given pursuant to this sub-paragraph (a) of paragraph 2.2 has delivered a letter to
the Purchaser in equivalent form to this undertaking;

 

    	 	- 142 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0851
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		(b)	with (or through) whom the Purchaser enters into (or may potentially enter into) any sub-participation
in relation to, or any other transaction under which payments are to be made or may be made by reference to that Agreement or any
relevant Obligor such Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition as the
Purchaser shall consider appropriate if the person to whom such Confidential Information is to be given pursuant to this sub-paragraph (b)
of paragraph 2.2 has delivered a letter to the Purchaser in equivalent form to this undertaking;

 

		(c)	to whom information is required or requested to be disclosed by any governmental, banking, taxation
or other regulatory authority or similar body, the rules of any relevant stock exchange or pursuant to any applicable law or regulation
such Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition as the Purchaser shall
consider appropriate; and

 

		2.3	notwithstanding paragraphs 2.1 and 2.2 above, Confidential Information to such persons to
whom, and on the same terms as, a Finance Party is permitted to disclose such Confidential Information under the Agreement to which
that Acquisition relates, as if such permissions were set out in full in this undertaking for the purposes of that Acquisition
and as if references in those permissions to Finance Party were references to the Purchaser for the purposes of that Acquisition.

 

		3.	NOTIFICATION OF DISCLOSURE

 

The Purchaser agrees in relation
to each Acquisition made or which may be made by it (to the extent permitted by law and regulation) to inform the Seller:

 

		3.1	of the circumstances of any disclosure of Confidential Information made pursuant to sub-paragraph (c)
of paragraph 2.2 above except where such disclosure is made to any of the persons referred to in that paragraph during
the ordinary course of its supervisory or regulatory function; and

 

		3.2	upon becoming aware that Confidential Information relating to that Acquisition has been disclosed
in breach of this undertaking.

 

		4.	RETURN OF COPIES

 

If the Purchaser does not enter into
an Acquisition and the Seller so requests in writing, the Purchaser shall return or destroy all Confidential Information supplied
to the Purchaser by the Seller in relation to that Acquisition and destroy or permanently erase (to the extent technically practicable)
all copies of such Confidential Information made by the Purchaser and use its reasonable endeavours to ensure that anyone to whom
the Purchaser has supplied any such Confidential Information destroys or permanently erases (to the extent technically practicable)
such Confidential Information and any copies made by them, in each case save to the extent that the Purchaser or the recipients
are required to retain any such Confidential Information by any applicable law, rule or regulation or by any competent judicial,
governmental, supervisory or regulatory body or in accordance with internal policy, or where the Confidential Information has been
disclosed under sub- paragraph (c) of paragraph 2.2 above.

 

    	 	- 143 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0852
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		5.	CONTINUING OBLIGATIONS

 

The obligations in this undertaking
are continuing and, in particular, shall survive and remain binding on the Purchaser in relation to each Acquisition made or which
may be made by it until (a) if the Purchaser becomes a party to the Agreement to which that Acquisition relates as a lender of
record, the date on which the Purchaser becomes such a party to such Agreement; (b) if the Purchaser enters into that Acquisition
but it does not result in the Purchaser becoming a party to the Agreement to which that Acquisition relates as a lender of record,
the date falling twelve months after the date on which all of the Purchaser's rights and obligations contained in the documentation
entered into to implement that Acquisition have terminated; or (c) in any other case the date falling twelve months after the date
of the Purchaser's final receipt (in whatever manner) of any Confidential Information in relation to that Acquisition.

 

		6.	NO REPRESENTATION; CONSEQUENCES OF BREACH, ETC.

 

The Purchaser acknowledges and agrees
that, in relation to each Acquisition made or which may be made by it:

 

		6.1	neither the Seller, nor any member of the relevant Group nor any of the Seller's or the relevant
Group's respective officers, employees or advisers (each a "Relevant Person") (i) make any representation or warranty,
express or implied, as to, or assume any responsibility for, the accuracy, reliability or completeness of any of the Confidential
Information supplied by the Seller to the Purchaser in relation to that Acquisition or any other information supplied by the Seller
to the Purchaser in relation to that Acquisition or the assumptions on which it is based or (ii) shall be under any obligation
to update or correct any inaccuracy in the Confidential Information supplied by the Seller to the Purchaser in relation to that
Acquisition or any other information supplied by the Seller to the Purchaser in relation to that Acquisition or be otherwise liable
to the Purchaser or any other person in respect of the Confidential Information supplied by the Seller to the Purchaser in relation
to that Acquisition or any such information; and

 

		6.2	the Seller or members of the relevant Group may be irreparably harmed by the breach of the terms
of this undertaking and damages may not be an adequate remedy; each Relevant Person may be granted an injunction or specific performance
for any threatened or actual breach of the provisions of this undertaking by the Purchaser.

 

		7.	ENTIRE AGREEMENT: NO WAIVER; AMENDMENTS, ETC.

 

		7.1	This undertaking constitutes the entire agreement between the Seller and the Purchaser in relation
to the Purchaser's obligations regarding Confidential Information and supersedes any previous agreement, whether express or implied,
regarding Confidential Information.

 

    	 	- 144 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0853
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		7.2	No failure to exercise, nor any delay in exercising any right or remedy under this undertaking
will operate as a waiver of any such right or remedy or constitute an election to affirm this letter. No election to affirm this
letter will be effective unless it is in writing. No single or partial exercise of any right or remedy will prevent any further
or other exercise or the exercise of any other right or remedy under this undertaking.

 

		7.3	The terms of this undertaking and the Purchaser's obligations under this undertaking may only be
amended or modified by written agreement between the parties.

 

		8.	INSIDE INFORMATION

 

The Purchaser acknowledges
that some or all of the Confidential Information is or may be price-sensitive information and that the use of such information
may be regulated or prohibited by applicable legislation including securities law relating to insider dealing and market abuse
and the Purchaser undertakes not to use any Confidential Information for any unlawful purpose.

 

		9.	NATURE OF UNDERTAKINGS

 

The undertakings given by the Purchaser
in this undertaking are given to the Seller and are also given for the benefit of the relevant Company and each other member of
the relevant Group.

 

		10.	THIRD PARTY RIGHTS

 

		10.1	Subject to this paragraph 10 and to paragraphs 6 and 9, a person who is not a party to
this undertaking has no right under the Contracts (Rights of Third Parties) Act 1999 (the "Third Parties Act")
to enforce or to enjoy the benefit of any term of this undertaking.

 

		10.2	The Relevant Persons may enjoy the benefit of the terms of paragraphs 6 and 9 subject to and
in accordance with this paragraph 10 and the provisions of the Third Parties Act.

 

		10.3	Notwithstanding any provisions of this undertaking, the parties to this undertaking do not require
the consent of any Relevant Person to rescind or vary this undertaking at any time.

 

		11.	GOVERNING LAW AND JURISDICTION

 

		11.1	This undertaking and any non-contractual obligations arising out of or in connection with it (including
any non-contractual obligations arising out of the negotiation of any Acquisition) are governed by English law.

 

		11.2	The courts of England have non-exclusive jurisdiction to settle any dispute arising out of or in
connection with this undertaking (including a dispute relating to any non-contractual obligation arising out of or in connection
with either this undertaking or the negotiation of any Acquisition).

 

    	 	- 145 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0854
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

		12.	DEFINITIONS

 

In this undertaking
terms defined in the relevant Agreement (as defined below) shall, unless the context otherwise requires, have the same meaning
and:

 

"Agreement"
means the USD 1,000,000,000 facility agreement dated [•] 2018 between, amongst others, Millicom International Cellular S.A.
as the company, [•] as agent and certain financial institutions named therein as lenders.

 

"Company"
means Millicom International Cellular S.A.

 

"Confidential
Information" means, in relation to each Acquisition, all information relating to the relevant Company, any relevant Obligor,
the relevant Group, the relevant Finance Documents, [the/a] relevant Facility and/or that Acquisition which is received by the
Purchaser in relation to the relevant Finance Documents or [the/a] relevant Facility from the Seller or any of its affiliates or
advisers, in whatever form, and includes information given orally and any document, electronic file or any other way of representing
or recording information which contains or is derived or copied from such information but excludes information that:

 

		(a)	is or becomes public information other than as a direct or indirect result of any breach by the
Purchaser of this undertaking; or

 

		(b)	is identified in writing at the time of delivery as non-confidential by the Seller or its advisers;
or

 

		(c)	is known by the Purchaser before the date the information is disclosed to the Purchaser by the
Seller or any of its affiliates or advisers or is lawfully obtained by the Purchaser after that date, from a source which is, as
far as the Purchaser is aware, unconnected with the relevant Group and which, in either case, as far as the Purchaser is aware,
has not been obtained in breach of, and is not otherwise subject to, any obligation of confidentiality.

 

"Group"
means, in relation to each Acquisition, the relevant Company and its subsidiaries for the time being (as such term is defined in
the Companies Act 2006).

 

"Permitted
Purpose" means, in relation to each Acquisition, considering and evaluating whether to enter into that Acquisition.

 

This undertaking has been entered into on the
date stated at the beginning of this undertaking

 

    	 	- 146 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0855
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

SIGNATURES

 

	[•]	 	 
	 	 	 
	By:	 	 
	 	 	 
	 	 	 
	 	 	 
	[•]	 	 
	 	 	 
	By:	 	 

 

    	 	- 147 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0856
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

Schedule
10

Timetables

 

	Delivery of a duly completed Utilisation Request (Clause 5.1 (Delivery of a Utilisation Request))	 	
        U-3

        9.30am

	 	 	 
	Agent notifies the Lenders of the Loan in accordance with Clause 5.4 (Lenders' participation)	 	
        U-3

        3.00pm

	 	 	 
	LIBOR is fixed	 	Quotation Day as of 11:00 a.m. London time

 

"U" = date of utilisation

 

"U - X" = Business Days prior to
date of utilisation

 

    	 	- 148 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0857
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

Schedule
11

Form
of Increase Confirmation

 

		To:	The Bank of Nova Scotia as Agent, and Millicom International Cellular S.A. as Company, for and
on behalf of each Obligor

 

		From:	[the Increase Lender] (the "Increase Lender")

 

		Dated:	

 

Millicom International Cellular S.A. –
US$ 1,000,000,000 Facility Agreement

dated [●] 2018 (the "Agreement")

 

		1.	We refer to the Agreement. This is an Increase Confirmation. Terms defined in the Agreement have
the same meaning in this Increase Confirmation unless given a different meaning in this Increase Confirmation.

 

		2.	We refer to Clause 2.2 (Increase) of the Agreement.

 

		3.	The Increase Lender agrees to assume and will assume all of the obligations corresponding to the
Commitment specified in the Schedule (the "Relevant Commitment") as if it was an Original Lender under the Agreement.

 

		4.	The proposed date on which the increase in relation to the Increase Lender and the Relevant Commitment
is to take effect (the "Increase Date") is [•].

 

		5.	On the Increase Date, the Increase Lender becomes party to the Finance Documents as a Lender.

 

		6.	The Facility Office and address, fax number and attention details for notices to the Increase Lender
for the purposes of Clause 30.2 (Addresses) are set out in the Schedule.

 

		7.	The Increase Lender expressly acknowledges the limitations on the Lenders' obligations referred
to in paragraph (g) of Clause 2.2 (Increase).

 

		[10/11.]	This Increase Confirmation may be executed in any number of counterparts and this has the same
effect as if the signatures on the counterparts were on a single copy of this Increase Confirmation.

 

		[11/12.]	This Increase Confirmation and any non-contractual obligations arising out of or in connection
with it are governed by English law.

 

		[12/13].	This Increase Confirmation has been entered into on the date stated at the beginning of this Increase
Confirmation.

 

    	 	- 149 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0858
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

THE SCHEDULE

 

Relevant Commitment/rights and obligations
to be assumed by the Increase Lender

 

[insert relevant details]

 

[Facility office address, fax number and
attention details for notices and account details for payments]

 

[Increase Lender]

 

By:

 

This Increase Confirmation is accepted as an
Increase Confirmation for the purposes of the Agreement by the Agent and the Increase Date is confirmed as [•].

 

Agent

 

By:

 

    	 	- 150 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0859
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

Schedule
12

Form
of Substitute Affiliate Lender Designation Notice

 

		To:	The Bank of Nova Scotia as Agent

 

		Cc:	Millicom International Cellular S.A. as the Company

 

		From:	[Designating Lender] (the "Designating Lender")

 

		Dated:	[•]

 

 

Dear Sirs

 

Millicom International Cellular S.A. –
US$ 1,000,000,000 Facility Agreement

dated [●] 2018 (the " Agreement")

 

		1.	We refer to the Facility Agreement. Terms defined in the Facility Agreement have the same meaning
in this Designation Notice.

 

		2.	We hereby designate our Affiliate details of which are given below as a Substitute Affiliate Lender
in respect of any Loans required to be advanced to [specify name of borrower or refer to all borrowers in a particular jurisdiction
etc] ("Designated Loans").

 

		3.	The details of the Substitute Affiliate Lender are as follows:

 

Name:

 

Facility Office:

 

Fax Number:

 

Attention:

 

Jurisdiction of Incorporation:

 

		4.	By countersigning this notice below the Substitute Affiliate Lender agrees to become a Designated
Affiliate Lender in respect of Designated Loans as indicated above and agrees to be bound by the terms of the Facility Agreement
accordingly.

 

		5.	This Designation Notice and any non-contractual obligations arising out of or in connection with
it are governed by English law.

 

    	 	- 151 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0860
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

	 	 	 
	For and on behalf of	 	 
	[Designating Lender]	 	 
	 	 	 
	 	 	 
	 	 	 
	We acknowledge and agree to the terms of the above.	 	 
	 	 	 
	 	 	 
	For and on behalf of	 	 
	[Substitute Affiliate Lender]	 	 
	 	 	 
	 	 	 
	 	 	 
	We acknowledge the terms of the above.	 	 
	 	 	 
	 	 	 
	For and on behalf of	 	 
	The Agent	 	 
	 	 	 
	 	 	 
	 	 	 
	Dated: [•]	 	 

 

    	 	- 152 -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0861
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

SIGNATURES

 

	THE COMPANY	 	 
	 	 	 	 
	For and on behalf of	 	 
	MILLICOM INTERNATIONAL CELLULAR S.A.	 	 
	 	 	 	 
	By:	/s/ Timothy Lincoln Pennington	 	/s/ Justine Dimovic
	 	Senior EVP & Chief Financial Officer	 	Group Treasurer
	 	 	 	 
	Address:	2, rue du Fort Bourbon, L-1249, Luxembourg, Grand Duchy of Luxembourg
	 	 	 	 
	Fax:	+35227759932
  	 	 

 

	THE ORIGINAL BORROWER	 	 
	 	 	 	 
	For and on behalf of	 	 
	MILLICOM INTERNATIONAL CELLULAR S.A.	 	 
	 	 	 	 
	By:	/s/ Salvador Escalón	 	/s/ Justine Dimovic
	 	Executive Vice President and	 	Group Treasurer
	 	General Counsel	 	 
	 	 	 	 
	Address:	2, rue du Fort Bourbon, L-1249, Luxembourg, Grand Duchy of Luxembourg
	 	 	 	 
	Fax: 	+35227759932	 	 

 

	THE GUARANTOR	 	 
	 	 	 
	For and on behalf of	 	 
	MILLICOM INTERNATIONAL CELLULAR S.A.	 	 
	 	 	 	 
	By:	/s/ Bruno Nieuwland	 	/s/ Justine Dimovic
	 	Chief Administrative Officer	 	Group Treasurer
	 	Head of International Finance Projects	 	 
	 	 	 	 
	Address:	2, rue du Fort Bourbon, L-1249, Luxembourg, Grand Duchy of Luxembourg
	 	 	 	 
	Fax: 	+35227759932
    	 	 

 

Company signature page to Facility Agreement

 

    	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0862
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

	THE ARRANGERS	 	 
	 	 	 	 
	For and on behalf of	 	 
	
        BNP PARIBAS FORTIS SA/NV

         
	 	 
	 	 	 	 
	By:	/s/ Jean-Philippe Rouane	 	/s/ Dominique de Narbonne
	 	Managing Director	 	Managing Director
	 	Corporate Debt Platform	 	EMEA Corporate Debt Platform
	 	 	 	 
	Address: 	
        Montagne du Parc 3,

        1000 Bruxelles, Belgium
	 	 
	 	 	 	 
	Fax:	+33 14 29 80 979	 	 
	 	 	 	 
	For and on behalf of	 	 
	
        GOLDMAN SACHS BANK USA

         
	 	 
	By:	/s/ Alisdair Fraser	 	 
	 	Authorised Signatory	 	 
	 	 	 	 
	Address:	200 West Street, New York NY 10232-2198	 	 
	 	 	 	 
	Fax:	+44 20 7552 7070	 	 
	 	 	 	 
	For and on behalf of	 	 
	
        J.P. MORGAN SECURITIES PLC

         
	 	 
	By:	/s/ Zev Garell	 	 
	 	 	 	 
	Address: 	25 Bank St London E145JP UK	 	 
	 	 	 	 
	Fax:	 	 	 
	 	 	 	 
	For and on behalf of	 	 
	
        THE BANK OF NOVA SCOTIA 
	 	 
	 	 	 
	By:	/s/ Enrique Lopez	 	/s/ Jorden Davis
	 	VP, ICBB	 	Director, ICCB
	 	 	 	 
	Address:	28th Floor, 40 King St West,	 	 
	 	Toronto, ON, MH5 1H1	 	 
	 	 	 	 
	Fax:	+1 416 933 2295	 	 

 

Arranger signature page to Facility Agreement

 

    	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0863
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

	THE AGENT	 	 
	 	 	 
	For and on behalf of	 	 
	THE BANK OF NOVA SCOTIA	 	 
	 	 	 	 
	By:	/s/ Enrique Lopez	 	/s/ Jorden A. Davis
	 	 	 	 
	Address:	44 King Street West, Toronto, ON, MH5 1H1	 	 
	 	 	 	 
	Fax:	+1 416 866 3329	 	 

 

Agent's contact
details for funding, repayment or interest issues:

 

Global Wholesale
Services - Loan Administration

720 King Street
West, 4th Floor

Toronto, Ontario

Canada M5V
2T3

Attention:
Tyrone Nicholson

Email: tyrone.nicholson@scotiabank.com
/ GWSLoanOps.Intl@scotiabank.com

 

Agent's contact
details for all other issues:

 

Global Loan
Syndications – Agency Services

40 King Street
West, 55th floor

Toronto, Ontario

Canada M5H
1H1

Attention:
Director & Head of Agency Services

Email: agency.services@scotiabank.com

 

Agent signature page to Facility Agreement

 

    	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0864
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

	THE ORIGINAL LENDERS	 	 
	 	 	 	 
	For and on behalf of	 	 
	
        BNP PARIBAS FORTIS SA/NV
	 	 
	 	 	 	 
	By:	/s/ Jean-Philippe Rouane	 	/s/ Dominique de Narbonne
	 	Managing Director	 	Managing Director
	 	Corporate Debt Platform	 	EMEA Corporate Debt Platform
	 	 	 	 
	Address: 	
        Montagne du Parc 3,

        1000 Bruxelles, Belgium
	 	 
	 	 	 	 
	Fax:	+33 14 29 80 979	 	 
	 	 	 	 
	For and on behalf of	 	 
	
        GOLDMAN SACHS BANK USA
	 	 
	 	 	 	 
	By:	/s/ Alisdair Fraser	 	 
	 	Authorised Signatory	 	 
	 	 	 	 
	Address:	200 West Street, New York NY 10232-2198	 	 
	 	 	 	 
	Fax:	+44 20 7552 7070	 	 
	 	 	 	 
	For and on behalf of	 	 
	
        J.P. MORGAN SECURITIES PLC
	 	 
	 	 	 
	By:	/s/ Richard Johansson	 	 
	 	Executive Director	 	 
	 	 	 	 
	Address:	25 Bank Street London E14 5JP	 	 
	 	 	 	 
	Fax:	+44 207 777 4821	 	 
	 	 	 	 
	For and on behalf of	 	 
	
        THE BANK OF NOVA SCOTIA
	 	 
	 	 	 	 
	By:	/s/ Enrique Lopez	 	/s/ Jorden Davis
	 	VP, ICBB	 	Director, ICCB
	 	 	 	 
	Address:	28th Floor, 40 King St West,	 	 
	 	Toronto, ON, MH5 1H1	 	 
	 	 	 	 
	Fax:	+1 416 933 2295	 	 

 

Lender signature page to Facility AgreementConfidential treatment requested by the registrant for its submission of this draft registration	MIC-0865
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

 

Exhibit 4.6

 

EXECUTION VERSION

 

 

 

MILLICOM INTERNATIONAL CELLULAR S.A.

as the Issuer

 

$500,000,000 6.625% SENIOR NOTES DUE
2026

 

 

 

INDENTURE

 

Dated as of October 16, 2018

 

 

 

CITIBANK, N.A., LONDON BRANCH

as Trustee, Transfer Agent and Paying
Agent

 

CITIGROUP GLOBAL MARKETS EUROPE AG

as Registrar

  

 

 

    	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0866
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Article 1 Definitions and Incorporation by Reference	1
	 	 	 
	Section 1.01	Definitions	1
	Section 1.02	Other Definitions	28
	Section 1.03	[Reserved]	29
	Section 1.04	Rules of Construction	29
	 	 	 
	Article 2 The Notes	30
	 	 	 
	Section 2.01	Form and Dating	30
	Section 2.02	Execution and Authentication	31
	Section 2.03	Paying Agent, Registrars and Transfer Agents	31
	Section 2.04	Paying Agent to Hold Money	32
	Section 2.05	Holder Lists	32
	Section 2.06	Transfer and Exchange	32
	Section 2.07	Replacement Notes	39
	Section 2.08	Outstanding Notes	40
	Section 2.09	Treasury Notes	40
	Section 2.10	Temporary Notes	40
	Section 2.11	Cancellation	40
	Section 2.12	Defaulted Interest	41
	Section 2.13	Further Issues	41
	Section 2.14	CUSIP, ISIN or Common Code Number	41
	Section 2.15	Deposit of Moneys	41
	Section 2.16	Agents	42
	 	 	 
	Article 3 Redemption and Prepayment	42
	 	 	 
	Section 3.01	Notices to Trustee	42
	Section 3.02	Selection of Notes to Be Redeemed or Purchased	42
	Section 3.03	Notice of Redemption	43
	Section 3.04	Effect of Notice of Redemption	44
	Section 3.05	Deposit of Redemption or Purchase Price	44
	Section 3.06	Notes Redeemed or Purchased in Part	44
	Section 3.07	Optional Redemption	45
	Section 3.08	Redemption upon changes in withholding taxes	46
	Section 3.09	Escrow of Proceeds; Special Mandatory Redemption	47
	Section 3.10	Sinking fund	48
	Section 3.11	[Reserved]	48
	Section 3.12	Offer to Purchase by Application of Excess Proceeds	48
	Section 3.13	Post-Tender Redemption	50
	 	 	 
	Article 4 Covenants	50
	 	 	 
	Section 4.01	Payment of Notes	50
	Section 4.02	Maintenance of Office or Agency	51
	Section 4.03	Provision of financial information	51
	Section 4.04	Compliance Certificate	53
	Section 4.05	[Reserved]	53
	Section 4.06	Stay, Extension and Usury Laws	53
	Section 4.07	[Reserved]	53

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0867
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

	Section 4.08	[Reserved]	53
	Section 4.09	Limitation on Debt	53
	Section 4.10	Limitation on Asset Dispositions	56
	Section 4.11	[Reserved]	58
	Section 4.12	Limitation on Liens securing Debt	58
	Section 4.13	Limitation on lines of business	59
	Section 4.14	[Reserved]	59
	Section 4.15	Change of Control	59
	Section 4.16	Limitation on Guarantees of the Issuer’s Debt by Subsidiaries	59
	Section 4.17	[Reserved]	60
	Section 4.18	Payments for consent	60
	Section 4.19	[Reserved]	60
	Section 4.20	Maintenance of listing	61
	Section 4.21	Financial Calculations for Limited Condition Transactions	61
	Section 4.22	Additional Amounts	62
	Section 4.23	Suspension of certain covenants when Notes rated investment grade	64
	Section 4.24	Limitation on Designation of Unrestricted Subsidiaries	64
	Section 4.25	FATCA	66
	 	 	 
	Article 5 Successors	67
	 	 	 
	Section 5.01	Merger, consolidations and certain sales of assets of the Issuer	67
	Section 5.02	Successor Corporation Substituted	67
	 	 	 
	Article 6 Defaults and Remedies	68
	 	 	 
	Section 6.01	Events of Default	68
	Section 6.02	Acceleration	69
	Section 6.03	Other Remedies	69
	Section 6.04	Waiver of Past Defaults	70
	Section 6.05	Control by Majority	70
	Section 6.06	Limitation on Suits	70
	Section 6.07	Right of Holders of Notes to Receive Payment	71
	Section 6.08	Collection Suit by Trustee	71
	Section 6.09	Trustee May File Proofs of Claim	71
	Section 6.10	Priorities	72
	Section 6.11	Undertaking for Costs	72
	Section 6.12	Restoration of Rights and Remedies	72
	Section 6.13	Rights and Remedies Cumulative	72
	Section 6.14	Delay or Omission Not Waiver	72
	 	 	 
	Article 7 Trustee	73
	 	 	 
	Section 7.01	Duties of Trustee	73
	Section 7.02	Rights of Trustee	74
	Section 7.03	Individual Rights of Trustee	76
	Section 7.04	Trustee’s Disclaimer	76
	Section 7.05	Notice of Defaults	76
	Section 7.06	[Reserved]	76
	Section 7.07	Compensation and Indemnity	77
	Section 7.08	Replacement of Trustee	78
	Section 7.09	Successor Trustee by Merger, etc.	79
	Section 7.10	Eligibility; Disqualification	79
	Section 7.11	Agents	79

 

    		- ii -	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0868
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

	Article 8 Legal Defeasance and Covenant Defeasance	79
	 	 	 
	Section 8.01	Option to Effect Legal Defeasance or Covenant Defeasance	79
	Section 8.02	Legal Defeasance and Discharge	79
	Section 8.03	Covenant Defeasance	80
	Section 8.04	Conditions to Legal or Covenant Defeasance	80
	Section 8.05	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	81
	Section 8.06	Repayment to Issuer	82
	Section 8.07	Reinstatement	82
	 	 	 
	Article 9 Amendment, Supplement and Waiver	82
	 	 	 
	Section 9.01	Without Consent of Holders	82
	Section 9.02	With Consent of Holders	83
	Section 9.03	Revocation and Effect of Consents	85
	Section 9.04	Notation on or Exchange of Notes	85
	Section 9.05	Trustee to Sign Amendments, etc.	85
	 	 	 
	Article 10 [Reserved]	85
	 	 
	Article 11 [Reserved]	85
	 	 
	Article 12 [Reserved]	85
	 	 
	Article 13 Satisfaction and Discharge	85
	 	 	 
	Section 13.01	Satisfaction and Discharge	85
	Section 13.02	Application of Trust Money	86
	 	 	 
	Article 14 Miscellaneous	86
	 	 	 
	Section 14.01	Notices	86
	Section 14.02	[Reserved]	88
	Section 14.03	Certificate and Opinion as to Conditions Precedent	88
	Section 14.04	Statements Required in Certificate or Opinion	88
	Section 14.05	Rules by Trustee and Agents	89
	Section 14.06	Agent for Service; Submission to Jurisdiction; Waiver of Immunities	89
	Section 14.07	No Liability of Directors, Officers, Employees, Incorporators, Members and Stockholders	89
	Section 14.08	Governing Law	89
	Section 14.09	No Adverse Interpretation of Other Agreements	89
	Section 14.10	Successors	90
	Section 14.11	Severability	90
	Section 14.12	Counterpart Originals	90
	Section 14.13	Table of Contents, Headings, etc.	90
	Section 14.14	Judgment Currency	90
	Section 14.15	Prescription	90
	Section 14.16	Contractual Recognition of Bail-In Powers	91

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0869
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

  

EXHIBITS

 

	Exhibit A	FORM OF NOTE
	Exhibit B	FORM OF CERTIFICATE OF TRANSFER
	Exhibit C	FORM OF CERTIFICATE OF EXCHANGE

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0870
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

INDENTURE (this
“Indenture”), dated as of October 16, 2018, among Millicom International Cellular S.A. (the “Issuer”),
a public limited liability company (société anonyme) organized under the laws of the Grand Duchy of Luxembourg,
having its registered office at 2, rue du Fort Bourbon, L-1249 Luxembourg, Luxembourg and registered with the Luxembourg Trade
and Companies Register under the number B 40630 and Citibank, N.A., London Branch, as Trustee, Transfer Agent and Paying Agent,
and Citigroup Global Markets Europe AG as Registrar.

 

The Issuer and the
Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders (as defined below)
of the 6.625% Senior Notes due 2026 in an aggregate principal amount of $500,000,000 (the “Initial Notes”) and
the Holders of any Additional Notes (as defined below and, together with the Initial Notes, the “Notes”):

 

Article
1

Definitions
and Incorporation

by
Reference

 

Section 1.01         Definitions.

 

“Acquired
Debt” means Debt of a Person or its Subsidiary:

 

(a)          Incurred
and outstanding on the date on which such Person (i) was acquired by the Issuer or any of its Restricted Subsidiaries or (ii) is
merged, consolidated, amalgamated or otherwise combined with (including pursuant to any acquisition of assets and assumption of
related liabilities) the Issuer or its Restricted Subsidiary; or

 

(b)          Incurred
to provide all or part of the funds utilized to consummate the transaction or series of related transactions pursuant to which
such Person became a Restricted Subsidiary of the Issuer or was otherwise acquired by the Issuer or its Restricted Subsidiary;
provided that, after giving pro forma effect to the transactions by which such Person became a Restricted Subsidiary
of the Issuer or is merged, consolidated, amalgamated or otherwise combined with the Issuer or its Restricted Subsidiary, (i) the
Issuer would have been able to Incur $1.00 of additional Debt pursuant to Section 4.09(a) hereof; or (ii) the Net Leverage Ratio
would not be greater than such ratio before giving effect to such transactions.

 

“Acquisition”
means the acquisition of an 80% stake of Cable Onda by Millicom LIH S.A., a wholly owned subsidiary of the Issuer, pursuant to
the Stock Purchase Agreement.

 

“Additional
Notes” means additional Notes (other than the Initial Notes) issued under this Indenture in accordance with Section 2.02
hereof, as part of the same series as the Initial Notes.

 

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

 

“Agent”
means any Registrar, co-registrar, Transfer Agent, Authenticating Agent, Paying Agent or additional paying agent.

 

“Applicable
Procedures” means, with respect to any transfer or exchange of or for Book-Entry Interests in any Global Note, the rules
and procedures of DTC, Euroclear and Clearstream that apply to such transfer or exchange.

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0871
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“Applicable
Redemption Premium” means, with respect to any Note on any redemption date, the greater of:

 

(a)          1%
of the principal amount of such Note at such time; and

 

(b)          the
excess of:

 

(i)          the
present value at such redemption date of: (x) the redemption price of such Note at October 15, 2021 (such redemption price being
set forth in Section 3.07(e)); plus (y) all required interest payments that would otherwise be due to be paid on such Note
during the period between the redemption date and October 15, 2021 (excluding accrued but unpaid interest), computed using a discount
rate equal to the Treasury Rate at such redemption date plus 50 basis points; over

 

(ii)         the
outstanding principal amount of such Note.

 

For the avoidance
of doubt, the calculation of the Applicable Redemption Premium shall not be a duty or obligation of the Trustee, the Registrar,
the Transfer Agent or the Paying Agent and shall be notified by the Issuer to the Trustee, the Paying Agent and the Holders no
less than two (2) Business Days prior to any redemption date.

 

“Asset
Disposition” means any transfer, conveyance, sale, lease or other disposition by the Issuer or any of its Restricted
Subsidiaries (including a consolidation or merger or other sale of any such Restricted Subsidiary with, into or to another Person
in a transaction in which such Restricted Subsidiary ceases to be a Restricted Subsidiary of the Issuer, but excluding a disposition
by a Restricted Subsidiary of the Issuer to the Issuer or a Restricted Subsidiary of the Issuer which is an 80% or more owned Restricted
Subsidiary of the Issuer) of (i) shares of Capital Stock (other than directors’ qualifying shares and shares to be held by
third parties to satisfy applicable legal requirements) or other ownership interests of a Restricted Subsidiary of the Issuer,
(ii) substantially all of the assets of the Issuer or any of its Restricted Subsidiaries representing a division or line of business
or (iii) other assets or rights of the Issuer or any of its Restricted Subsidiaries outside of the ordinary course of business;
provided that the term “Asset Disposition” shall not include:

 

(a)          any
dispositions of assets in a single transaction or series of transactions with an aggregate Fair Market Value in any calendar year
of not more than the greater of (x) $25 million and (y) 1% of Total Assets (with unused amounts in any calendar year being carried
over to the next succeeding year subject to a maximum of the greater of $25 million and 1% of Total Assets of carried over amounts
for any calendar year);

 

(b)          any
disposition of Tower Equipment, including any Sale/Leaseback Transaction; provided that any cash or Cash Equivalents received
in connection with such disposition or Sale/Leaseback Transaction must be applied in accordance with Section 4.10.

 

(c)          a
transfer of assets between or among the Issuer and any of its Restricted Subsidiaries;

 

(d)          the
issuance of Capital Stock by a Restricted Subsidiary to the Issuer or to another Restricted Subsidiary of the Issuer;

 

(e)          any
disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a Person (other
than the Issuer or its Restricted Subsidiary) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary
acquired its business and assets (having been newly formed in connection with such acquisition), made as part of such acquisition
and in each case comprising all or a portion of the consideration in respect of such sale or acquisition;

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0872
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(f)          the
sale, lease or other transfer of products, services, accounts receivable, inventory or other assets in the ordinary course of business
and any sale or other disposition of damaged, surplus, worn-out or obsolete assets;

 

(g)         dispositions
in connection with Permitted Liens;

 

(h)         disposals
of assets, rights or revenue not constituting part of the Related Business and other disposals of non-core assets acquired in connection
with any acquisition permitted under this Indenture;

 

(i)    
     licenses and sublicenses of the Issuer or any of its Restricted Subsidiaries in the
ordinary course of business;

 

(j)   
      any surrender or waiver of contract rights or settlement, release, recovery on or
surrender of contract, tort or other claims in the ordinary course of business;

 

(k)          the
disposition of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business
or in bankruptcy or similar proceedings;

 

(l)      
   the granting of Liens not prohibited by Section 4.12 hereof;

 

(m)         a
transfer or disposition of assets that is governed by the provisions of this Indenture described under Section 5.01 hereof;

 

(n)          the
sale or other disposition of cash or Cash Equivalents;

 

(o)          the
foreclosure, condemnation or any similar action with respect to any property or other assets;

 

(p)          sales
of accounts receivable and related assets or an interest therein of the type specified in the definition of “Qualified Receivables
Transaction” to a Receivables Entity, and Investments in a Receivables Entity consisting of cash or Securitization Obligations;

 

(q)         any
disposition or expropriation of assets or Capital Stock which the Issuer or any Restricted Subsidiary is required by, or made in
response to concerns raised by, a regulatory authority or court of competent jurisdiction;

 

(r)          any
disposition of Capital Stock, Debt or other securities of an Unrestricted Subsidiary;

 

(s)         disposal
of non-core assets acquired in connection with any acquisition permitted under this Indenture;

 

(t)          any
disposition of assets to a Person who is providing services related to such assets, the provision of which have been or are to
be outsourced by the Issuer or any Restricted Subsidiary to such Person;

 

(u)         any
disposition of investments in joint ventures to the extent required by, or made pursuant to, customary buy/sell arrangements between
the joint venture parties set forth in joint venture arrangements and similar binding agreements; provided that any cash
or Cash Equivalents received in such disposition is applied in accordance with the requirements set forth in Section 4.10;

 

(v)         any
sale or disposition with respect to property built, repaired, improved, owned or otherwise acquired by the Issuer or any Subsidiary
pursuant to customary sale and leaseback transactions, asset securitizations and other similar financings permitted by this Indenture;
and

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0873
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(w)         any
dispositions constituting the surrender of tax losses by the Issuer or a Restricted Subsidiary (i) to Issuer or a Restricted Subsidiary;
(ii) in order to eliminate, satisfy or discharge any tax liability of any Person that was formerly a Subsidiary of the Issuer which
has been disposed of pursuant to a disposal permitted by the terms of this Indenture, to the extent that the Issuer or a Restricted
Subsidiary would have a liability (in the form of an indemnification obligation or otherwise) to one or more Persons in relation
to such tax liability if not so eliminated, satisfied or discharged; and

 

(x)          any
other disposal of assets not described in clauses (a) to (w) above comprising in aggregate percentage value 10% or less of Total
Assets.

 

“Bankruptcy
Law” means (a) Title 11 of the U.S. Code (as may be amended from time to time) or (b) any other law of the United States
(or any political subdivision thereof), the British Virgin Islands (or any political subdivision thereof), Curasao (or any political
subdivision thereof), the Netherlands (or any political subdivision thereof), Luxembourg (or any political subdivision thereof),
England (or any political subdivision thereof), Chad (or any political subdivision thereof), Ghana (or any political subdivision
thereof), Tanzania (or any political subdivision thereof), DRC (or any political subdivision thereof), Senegal (or any political
subdivision thereof) or the laws of any other relevant jurisdiction or any political subdivision thereof relating to bankruptcy,
insolvency, receivership, winding up, liquidation, reorganization or relief of debtors.

 

“Beneficial
Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating
the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act),
such “person” will be deemed to have beneficial ownership of all securities that such “person” has the
right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only
after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned” have a
corresponding meaning.

 

“Board
of Directors” means:

 

(a)          with
respect to any corporation, the board of directors or managers of the corporation (which, in the case of any corporation having
both a supervisory board and an executive or management board, shall be the executive or management board) or any duly authorized
committee thereof;

 

(b)          with
respect to any partnership, the board of directors of the general partner of the partnership or any duly authorized committee thereof;

 

(c)          with
respect to a limited liability company, the managing member or members (or analogous governing body) or any controlling committee
of managing members thereof; and

 

(d)          with
respect to any other Person, the board or any duly authorized committee thereof or committee of such Person serving a similar function.

 

“Book-Entry
Interest” means a beneficial interest in a Global Note held by or through a Participant.

 

“Business
Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New
York, London or Luxembourg, are authorized or obligated by law or executive order to close.

 

“Cable
Onda” means Cable Onda S.A., a company incorporated under the laws of Panama.

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0874
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“Capital
Lease Obligation” of any Person means the obligation to pay rent or other payment amounts under a lease of real or personal
property of such Person which is required to be classified and accounted for as a capital lease on the face of a statement of financial
position of such Person in accordance with IFRS. The Stated Maturity of such obligation shall be the date of the last payment of
rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without
payment of a penalty. The principal amount of Debt represented by such obligation shall be the capitalized amount thereof that
would appear on the face of a statement of financial position of such Person in accordance with IFRS.

 

“Capital
Stock” of any Person means any and all shares, interests, participation or other equivalents (however designated) of
corporate stock or other equity participation, including partnership interests, whether general or limited, of such Person.

 

“Cash Equivalents”
means, with respect to any Person:

 

(a)          (i)
Government Securities and (ii) any direct obligations of, or obligations guaranteed by, a member of the European Union for the
payment of which obligations or guarantee the full faith and credit of such member of the European Union is pledged and which have
a remaining weighted average life to maturity of not more than one year from the date of Investment therein;

 

(b)          term
deposit accounts (excluding current and demand deposit accounts), certificates of deposit and Eurodollar time deposits and money
market deposits and bankers’ acceptances, in each case, issued by or with (i) Banco Itaú BBA, BBVA, Barclays Bank,
BNP Paribas, Citigroup, Credit Agricole CIB, DNB, Goldman Sachs, J.P. Morgan, ICBC, Bank of China, Nordea Standard Bank, Standard
Chartered Bank, Scotiabank, and their respective Affiliates, (ii) a bank or trust company which is organized under the laws of
the United States of America, any state thereof, the United Kingdom, Switzerland, Canada, Australia or any member state of the
European Union, and which bank or trust company has capital, surplus and undivided profits aggregating in excess of $100 million
(or the foreign currency equivalent thereof) and has outstanding debt which is rated “A3/A-” (or such similar equivalent
rating) or higher by at least one nationally recognized statistical rating organization (as defined in Rule 436 under the Securities
Act), or (iii) any money market fund sponsored by a U.S. registered broker dealer or mutual fund distributor;

 

(c)          repurchase
obligations with a term of not more than seven days for underlying securities of the types described in clauses (b)(i) and (ii)
entered into with any financial institution meeting the qualifications specified in clause (b)(ii) above;

 

(d)          commercial
paper having one of the two highest ratings obtainable from Fitch or Moody’s and in each case maturing within 365 days after
the date of acquisition;

 

(e)          money
market funds mutual funds at least 95% of the assets of which constitute Cash Equivalents of the types described in clauses (i)
through (iv) of this definition; and

 

(f)          with
respect to any Person organized under the laws of, or having its principal business operations in, a jurisdiction outside the United
States, the United Kingdom or the European Union, those investments that are of the same type as investments in clauses (i), (iii)
and (iv) of this definition except that the obligor thereon is organized under the laws of the country (or any political subdivision
thereof) in which such Person is organized or conducting business.

 

“Change
of Control” means the occurrence of any of the following events:

 

(a)          any
Person (other than a Permitted Holder) becomes the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock
of the Issuer, measured by voting power rather than number of shares;

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0875
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(b)          the
direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one
or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its respective subsidiaries
taken as a whole to any Person (other than a Permitted Holder) occurs; or

 

(c)          a
plan relating to the liquidation or dissolution of the Issuer is adopted.

 

“Change
of Control Triggering Event” will be deemed to have occurred if a Change of Control has occurred and a Rating Decline
occurs.

 

“Clearstream”
means Clearstream Banking, société anonyme and its successors.

 

“Completion
Date” means the date on which the Acquisition is consummated and the proceeds from the offering of the Initial Notes
are released from the Escrow Account.

 

“Common
Depositary” means, with respect to the Notes issuable or issued in whole or in part in global form, a depositary common
to Euroclear and Clearstream, including any and all successors thereto appointed as Common Depositary hereunder and having become
such pursuant to the applicable provision(s) of this Indenture.

 

“Consolidated
EBITDA” means, for any period, operating profit of the Issuer and its Restricted Subsidiaries, as such amount is determined
on a consolidated basis in accordance with IFRS, plus the sum of the following amounts, in each case, without duplication.
Losses shall be added (as a positive number) and gains shall be deducted, in each case, to the extent such amounts were included
in calculating operating profit:

 

(a)          depreciation
and amortization expenses;

 

(b)          the
net loss or gain on the disposal and impairment of assets;

 

(c)          share-based
compensation expenses;

 

(d)          at
the Issuer’s option, other non-cash charges reducing operating profit (provided that if any such non-cash charge represents
an accrual of or reserve for potential cash charges in any future period, the cash payment in respect thereof in such future period
shall reduce operating profit to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period)
less other non-cash items of income increasing operating income (excluding any such non-cash item of income to the extent
it represents (x) a receipt of cash payments in any future period, (y) the reversal of an accrual or reserve for a potential cash
item that reduced operating income in any prior period and (z) any non-cash gains with respect to cash actually received in a prior
period so long as such cash did not increase operating income in such prior period);

 

(e)          any
material extraordinary, one-off, non-recurring, exceptional or unusual gain, loss, expense or charge, including any charges or
reserves in respect of any restructuring, redundancy, relocation, refinancing, integration or severance or other post-employment
arrangements, signing, retention or completion bonuses, transaction costs, acquisition costs, disposition costs, business optimization,
information technology implementation or development costs, costs related to governmental investigations and curtailments or modifications
to pension or postretirement benefits schemes, litigation or any asset impairment charges or the financial impacts of natural disasters
(including fire, flood and storm and related events);

 

(f)          at
the Issuer’s option, the effects of adjustments in its consolidated financial statements pursuant to IFRS (including inventory,
property, equipment, software, goodwill, intangible assets, in process research and development, deferred revenue and debt line
items) attributable to the application of recapitalization accounting or acquisition accounting, as the case may be, in relation
to any consummated acquisition or joint venture investment or the amortization or write-off or write-down of amounts thereof, net
of taxes;

 

    		6	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0876
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(g)          any
reasonable expenses, charges or other costs related to any Equity Offering, Investment, acquisition, disposition, recapitalization
or the Incurrence, waiver or amendment of any Debt (or the refinancing thereof) (whether or not successful or consummated), in
each case, as determined in good faith by a responsible financial or accounting officer of the Issuer;

 

(h)          any
gains or losses on associates;

 

(i)      
    any unrealized gains or losses due to changes in the fair value of equity Investments;

 

(j)   
       any unrealized gains or losses due to changes in the fair value of Permitted
Interest Rate, Currency or Commodity Price Agreements;

 

(k)          any
unrealized gains or losses due to changes in the carrying value of put options in respect of Capital Stock of, or voting rights
with respect to, any Subsidiary, joint venture or associate;

 

(l)   
       any unrealized gains or losses due to changes in the carrying value of call options
in respect of Capital Stock of, or voting rights with respect to, any Subsidiary, joint venture or associate;

 

(m)         any
net foreign exchange gains or losses;

 

(n)          at
the Issuer’s option, any adjustments to reduce the impact of the cumulative effect of a change in accounting principles and
changes as a result of the adoption or modification of accounting policies;

 

(o)          accruals
and reserves that are established or adjusted within twelve months after the closing date of any acquisition that are so required
to be established or adjusted as a result of such acquisition that are so required to be established as a result of such acquisition
in accordance with IFRS;

 

(p)          any
expenses, charges or losses to the extent covered by insurance or indemnity and actually reimbursed, or, so long as the Issuer
or a Restricted Subsidiary has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed
by the insurer or indemnifying party and only to the extent that such amount is in fact reimbursed within 365 days of the
date of the insurable or indemnifiable event (net of any amount so added back in any prior period to the extent not so reimbursed
within the applicable 365-day period);

 

(q)          the
amount of proceeds received from business interruption insurance and reimbursements of any expenses and charges that are covered
by indemnification or other reimbursement provisions in connection with any acquisition, Investment or any sale, conveyance, transfer
or other disposition of assets;

 

(r)          any
net gain (or loss) realized upon any Sale/Leaseback Transaction that is not sold or otherwise disposed of in the ordinary course
of business, determined in good faith by a responsible financial or accounting officer of the Issuer;

 

(s)          the
amount of loss on the sale or transfer of any assets in connection with an asset securitization program, receivables factoring
transaction or other receivables transaction (including, without limitation, a Qualified Receivables Transaction); and

 

(t)          Specified
Legal Expenses.

 

    		7	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0877
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

For the purposes
of calculating Consolidated EBITDA for any period, as of such date of determination:

 

(i)          if,
since the beginning of such period the Issuer or any Restricted Subsidiary has made any Asset Disposition or disposed of any company,
any business, or any group of assets constituting an operating unit of a business (any such disposition, a “Sale”),
including any Sale occurring in connection with a transaction causing a calculation to be made hereunder, then Consolidated EBITDA
for such period will be reduced by an amount equal to the Consolidated EBITDA (if positive) attributable to the assets which are
the subject of such Sale for such period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable
thereto for such period;

 

(ii)         if,
since the beginning of such period the Issuer or any Restricted Subsidiary (by merger or otherwise) will have made an Investment
in any Person that thereby becomes a Restricted Subsidiary, or otherwise acquires any company, any business, or any group of assets
constituting an operating unit of a business (any such Investment or acquisition, a “Purchase”), including any
such Purchase occurring in connection with a transaction causing a calculation to be made hereunder, then Consolidated EBITDA for
such period will be calculated after giving pro forma effect thereto as if such Purchase occurred on the first day of such
period;

 

(iii)        if,
since the beginning of such period any Person (that became a Restricted Subsidiary or was merged with or into the Issuer or any
Restricted Subsidiary since the beginning of such period) will have made any Sale or any Purchase that would have required an adjustment
pursuant to clauses (i) or (ii) above if made by the Issuer or a Restricted Subsidiary since the beginning of such period, Consolidated
EBITDA for such period will be calculated after giving pro forma effect thereto as if such Sale or Purchase occurred on
the first day of such period, including anticipated synergies and cost savings as if such Sale or Purchase occurred on the first
day of such period;

 

(iv)        whenever
pro forma effect is applied, the pro forma calculations will be as determined in good faith by a responsible financial
or accounting officer of the Issuer (including in respect of anticipated synergies and cost savings) as though the full effect
of synergies and cost savings were realized on the first day of the relevant period and shall also include the reasonably anticipated
full run rate cost savings effect (as calculated in good faith by a responsible financial or chief accounting officer of the Issuer)
of cost savings programs that have been initiated by the Issuer or its Restricted Subsidiaries as though such cost savings programs
had been fully implemented on the first day of the relevant period; and

 

(v)         for
the purposes of determining the amount of Consolidated EBITDA under this definition denominated in a foreign currency, the Issuer
may, at its option, calculate the U.S. Dollar equivalent amount of such Consolidated EBITDA based on either (i) the weighted average
exchange rates for the relevant period used in the consolidated financial statements of the Issuer for such relevant period or
(ii) the relevant currency exchange rate in effect on the Issue Date.

 

For the purpose
of calculating the Consolidated EBITDA of the Issuer, any Joint Venture Consolidated EBITDA shall be added to the amount determined
in accordance with the foregoing.

 

    		8	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0878
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

“Consolidated
Net Debt” means, as of any date of determination, the sum without duplication of (1) the total amount of Debt of the
Issuer and its Restricted Subsidiaries on a consolidated basis, minus (2) the sum without duplication of (i) all Debt outstanding
under Minority Shareholder Loans, (ii) any Debt which is a contingent obligation of the Issuer or its Restricted Subsidiaries on
such date, (iii) all Debt permitted by clause (3) of Section 4.09(b), (iv) all Debt permitted by clause (17) of Section 4.09(b)
and (v) all Debt outstanding under any Capital Lease Obligation or operating lease; minus (3) the amount of cash and Cash
Equivalents (other than cash or Cash Equivalents received from the Incurrence of Debt by the Issuer or any of its Restricted Subsidiaries
to the extent such cash or Cash Equivalents has not been subsequently applied or used for any purpose not prohibited by this Indenture)
of the Issuer and its Restricted Subsidiaries on a consolidated basis that would be stated on the statement of financial position
of the Issuer as of such date in accordance with IFRS, excluding, for the avoidance of doubt, Restricted Cash.

 

“Credit
Facility” means, a debt facility, arrangement, instrument, trust deed, note purchase agreement, indenture, purchase money
financing, commercial paper facility or overdraft facility with banks or other institutions or investors providing for revolving
credit loans, term loans, receivables financing (including through the sale of receivables to such institutions or to special purpose
entities formed to borrow from such institutions against such receivables), letters of credit or other Debt, in each case, as amended,
restated, modified, renewed, refunded, replaced, restructured, refinanced, repaid, increased or extended, in whole or in part from
time to time, and in each case, including all agreements, instruments and documents executed and delivered pursuant to or in connection
with the foregoing (including, but not limited to, any notes and letters of credit issued pursuant thereto and any guarantee and
collateral agreement, patent and trademark security agreement, mortgages or letter of credit applications and other guarantees,
pledges, agreements, security agreements and collateral documents). Without limiting the generality of the foregoing, the term
“Credit Facility” shall include any agreement or instrument (i) changing the maturity of any Debt Incurred thereunder
or contemplated thereby, (ii) adding Subsidiaries of the Issuer as additional borrowers or guarantors thereunder, (iii) increasing
the amount of Debt Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions
thereof.

 

“Custodian”
means Citibank N.A., London Branch, and any and all successors thereto appointed as Custodian hereunder and having become such
pursuant to the applicable provision of this Indenture.

 

“Debt”
means (without duplication), with respect to any Person, whether recourse is to all or a portion of the assets of such Person and
whether or not contingent:

 

(a)          the
principal of and premium, if any, in respect of every obligation of such Person for money borrowed;

 

(b)          the
principal of and premium, if any, in respect of every obligation of such Person evidenced by bonds, debentures, notes or other
similar instruments;

 

(c)          every
reimbursement obligation of such person with respect to letters of credit, bankers’ acceptances or similar facilities issued
for the account of such Person (but only to the extent such obligations are not reimbursed within 30 days following receipt by
such Person of a demand for reimbursement); and

 

(d)          the
principal component of every obligation of the type referred to in clauses (a) through (c) of another Person and all dividends
of another Person the payment of which, in either case, such Person has Guaranteed or is responsible or liable for, directly or
indirectly, as obligor, guarantor or otherwise to the extent not otherwise included in the Debt of such Person.

 

The “amount”
or “principal amount” of Debt at any time of determination as used herein represented by (x) any Debt issued at a price
that is less than the principal amount at maturity thereof, shall be the amount of the liability in respect thereof determined
in accordance with IFRS, (y) any Redeemable Stock, shall be the maximum fixed redemption or repurchase price in respect thereof;
and (z) any amount of Debt that has been cash-collateralized, to the extent so cash-collateralized, shall be excluded from any
calculation of Debt. Notwithstanding anything else to the contrary, for all purposes under this Indenture, the amount of Debt Incurred,
repaid, redeemed, repurchased or otherwise acquired by a Restricted Subsidiary of the Issuer shall equal the liability in respect
thereof determined in accordance with IFRS and reflected on the Issuer’s consolidated statement of financial position.

 

    		9	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0879
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

The term “Debt”
shall not include:

 

(i)          obligations
described in clauses (a) or (b) of the first paragraph of this definition of Debt that are Incurred by a Restricted Subsidiary
of the Issuer (the “Proceeds Recipient”) and owed to a bank or other lending institution (the “On-Lend
Bank”) to facilitate the substantially concurrent on-lending of proceeds (the “Proceeds On-Loan”)
from Debt Incurred by the Issuer or any of its Restricted Subsidiaries (other than the Proceeds Recipient) as permitted by Section
4.09 hereof (the “Initial Debt”) to the extent (i) the principal obligations in respect of the Proceeds On-Loan
are secured by security over cash granted in favor of the On-Lend Bank or any of its affiliates in an amount not less than the
principal amount of the Proceeds On-Loan or (ii) the Proceeds On-Loan is put in place substantially concurrently with a loan by
the Issuer or any of its Restricted Subsidiaries (other than the Proceeds Recipient) to the On-Lend Bank (the “On-Lend
Bank Borrowing”) pursuant to which the Proceeds Recipient is entitled to reduce the principal amount of the Proceeds
On-Loan by an amount equal to the principal amount of the On-Lend Bank Borrowing if a default or acceleration occurs with respect
to such On-Lend Bank Borrowing or (iii) the substantial risks and rewards of the Proceeds On-Loan are transferred, using a synthetic
instrument or any other arrangement or agreement, from the On-Lend Bank to the Issuer or any of its Restricted Subsidiaries (other
than the Proceeds Recipient) in exchange for an amount not less than (x) the amount of cash granted in favor of the On-Lend Bank
or any of its Affiliates or (y) the outstanding amount of the On-Lend Bank Borrowing, as applicable, in each case as at the effective
date of such transfer;

 

(ii)         any
liability of the Issuer or any of its Restricted Subsidiaries (other than the Proceeds Recipient) attributable to a synthetic instrument
or any other arrangement or agreement described in paragraph (a)(iii) above to the extent such obligation under the relevant instrument,
arrangement or agreement has not come due but is classified as a financial liability in accordance with IFRS and recorded as a
current liability on the Issuer’s consolidated statement of financial position;

 

(iii)        any
Restricted MFS Cash;

 

(iv)        any
liability of the Issuer attributable to a put option or similar instrument, arrangement or agreement entered into after the Issue
Date granted by the Issuer relating to an interest in any other entity, in each case to the extent such option has not been exercised
or such obligation under the relevant instrument, arrangement or agreement has not come due but is classified as a financial liability
in accordance with IFRS, and recorded as a current liability on the Issuer’s consolidated statement of financial position;

 

(v)         any
standby letter of credit, performance bond or surety bond provided by the Issuer or any Restricted Subsidiary that are customary
in the Related Business to the extent such letters of credit or bonds are not drawn upon or, if and to the extent drawn upon, are
honored in accordance with their terms;

 

(vi)        any
deposits or prepayments received by the Issuer or a Restricted Subsidiary from a customer or subscriber for its service and any
other deferred or prepaid revenue;

 

(vii)       any
obligations to make payments in relation to earn outs;

 

(viii)      Debt
which is in the nature of equity (other than redeemable shares) or equity derivatives;

 

    		10	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0880
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(ix)         Capital
Lease Obligations or operating leases;

 

(x)          receivables
sold or discounted, whether recourse or non-recourse, including for the avoidance of doubt any debt in respect of Qualified Receivables
Transactions, including without limitation guarantees by a Receivables Entity of the obligations of another Receivables Entity;

 

(xi)         pension
obligations or any obligation under employee plans or employment agreements;

 

(xii)        any
“parallel debt” obligations to the extent that such obligations mirror other Debt;

 

(xiii)       any
payments or liability for assets acquired or services supplied deferred (including Trade Payables) in accordance with the terms
pursuant to which the relevant assets were or are to be acquired or services were or are to be supplied;

 

(xiv)      the
principal component or liquidation preference of all obligations of such Person with respect to the redemption, repayment or other
repurchase of any Disqualified Stock or, with respect to any Restricted Subsidiary, any Preferred Stock (including, in each case,
any accrued dividends); and

 

(xv)       the
net obligations of such Person under any Permitted Interest Rate, Currency or Commodity Price Agreement.

 

“Default”
means an event that with the passing of time or the giving of notice, or both would constitute an Event of Default.

 

“Definitive
Registered Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance with
Sections 2.06, 2.07 and 2.09 hereof, substantially in the form of Exhibit A hereto and bearing the Private Placement Legend,
except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in
the Global Note” attached thereto.

 

“Depositary”
means, with respect to the Notes issuable or issued in whole or in part in global form, any of DTC, Euroclear or Clearstream, including
any and all successors thereto appointed as Depositary hereunder and having become such pursuant to the applicable provision(s)
of this Indenture.

 

“Disqualified
Stock” means, with respect to any Person, any Capital Stock of such Person which by its terms (or by the terms of any
security into which it is convertible or for which it is exchangeable) or upon the happening of any event:

 

(a)          matures
or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise;

 

(b)          is
convertible or exchangeable for Debt or Disqualified Stock (excluding Capital Stock which is convertible or exchangeable solely
at the option of the Issuer or a Restricted Subsidiary); or

 

(c)          is
redeemable at the option of the holder of the Capital Stock in whole or in part,

 

    		11	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0881
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

in each case on or prior to the earlier
of the date (a) of the Stated Maturity of the Notes or (b) on which there are no Notes Outstanding, provided that only the
portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at
the option of the holder thereof prior to such date will be deemed to be Disqualified Stock; provided, further that
any Capital Stock that would constitute Disqualified Stock solely because the holders thereof have the right to require the Issuer
to repurchase such Capital Stock upon the occurrence of a change of control or asset sale (each defined in a substantially identical
manner to the corresponding definitions in this Indenture) shall not constitute Disqualified Stock if the terms of such Capital
Stock (and all such securities into which it is convertible or for which it is ratable or exchangeable) provide that the Issuer
may not repurchase or redeem any such Capital Stock (and all such securities into which it is convertible or for which it is ratable
or exchangeable) pursuant to such provision prior to compliance by the Issuer with the Sections 4.15 and 4.10 hereof.

 

“DTC”
means The Depository Trust Company and its successors.

 

“Equity
Investor” means Investment Kinnevik AB.

 

“Equity
Offering” means a sale of Qualified Capital Stock of the Issuer or a Holding Company of the Issuer pursuant to which
the net cash proceeds are contributed to the Issuer in the form of a subscription for, or a capital contribution in respect of,
Qualified Capital Stock of the Issuer.

 

“Escrow
Account” means the segregated trust account opened in the name of the Issuer, but controlled by the Escrow Agent and
into which the net proceeds from the offering of the Initial Notes will be deposited on the Issue Date in accordance with the terms
of the Escrow Agreement.

 

“Escrow
Agent” means, initially, J.P. Morgan Bank Luxembourg S.A., in its capacity as Escrow Agent under the Escrow Agreement,
and any and all successors thereto.

 

“Escrow
Agreement” means the escrow agreement entered into on the Issue Date among the Escrow Agent, the Issuer and the Trustee,
governed by, and construed in accordance with, the laws of the Grand Duchy of Luxembourg.

 

“Escrow
Longstop Date” means May 1, 2019.

 

“Escrowed
Property” means the initial funds deposited in the Escrow Account, and all other funds, securities, interest, dividends,
distributions and other property and payments credited to the Escrow Account (less any property or funds paid in accordance with
the Escrow Agreement).

 

“Euro MTF
Market” means the Euro MTF Market, the alternative market of the Luxembourg Stock Exchange.

 

“Euroclear”
means Euroclear Bank, SA/NV and its successors.

 

“European
Union” means the European Union as of January 1, 2004, including the countries of Austria, Belgium, Denmark, Finland,
France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden and the United Kingdom, but not including
any country which became or becomes a member of the European Union after January 1, 2004.

 

“Fair Market
Value” means, with respect to any asset or property, the sale value that would be obtained in an arm’s length free
market transaction between an informed and willing seller under no compulsion to sell and an informed and willing buyer under no
compulsion to buy, as determined in good faith by the Issuer’s Chief Executive Officer, Chief Financial Officer or responsible
accounting or financial officer.

 

“Fitch”
means Fitch Rating, Ltd. and its successors.

 

“GAAP”
means generally accepted accounting principles in the United States.

 

    		12	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0882
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

“Government
Securities” means direct obligations of, or obligations Guaranteed by, the United States of America for the payment of
which obligations or Guarantee the full faith and credit of the United States is pledged and which have a remaining Weighted-Average
Life to Maturity of not more than one year from the date of Investment therein.

 

“Global
Notes” means, individually and collectively, each of the global notes, substantially in the form of Exhibit A
hereto, bearing the Private Placement Legend and the Global Note Legend, issued in accordance with Sections 2.01 and 2.06 hereof.

 

“Global
Note Legend” means the legend set forth in Section 2.06(f)(2) hereof, which is required to be placed on all Global Notes
issued under this Indenture.

 

“Gradation”
means a gradation within a Rating Category or a change to another Rating Category, which shall include: (i) “+” and
“-” in the case of Fitch’s current Rating Categories (e.g., a decline from BB+ to BB would constitute
a decrease of one gradation), (ii) 1, 2 and 3 in the case of Moody’s current Rating Categories (e.g., a decline from Ba1
to Ba2 would constitute a decrease of one gradation), or (iii) the equivalent in respect of successor Rating Categories of Fitch
or Moody’s or Rating Categories used by Rating Agencies other than Fitch and Moody’s.

 

“Guarantee”
by any Person means any obligation, contingent or otherwise, of such Person guaranteeing, or having the economic effect of guaranteeing,
any Debt of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including,
without limitation, any obligation of such Person:

 

(a)          to
purchase or pay (or advance or supply funds for the purchase or payment of) such Debt or to purchase (or to advance or supply funds
for the purchase of) any security for the payment of such Debt;

 

(b)          to
purchase property, securities or services for the purpose of assuring the holder of such Debt of the payment of such Debt; or

 

(c)          to
maintain working capital, equity capital or other financial statement condition or liquidity of the primary obligor so as to enable
the primary obligor to pay such Debt (and “Guaranteed” and “Guaranteeing” shall have meanings
correlative to the foregoing); provided, however, that the Guarantee by any Person shall not include endorsements
by such Person for collection or deposit, in either case, in the ordinary course of business.

 

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

 

“Holding
Company” means any Person (other than a natural person) which legally and Beneficially Owns more than 50% of the Voting
Stock and/or Capital Stock of another Person, either directly or through one or more Subsidiaries.

 

“IFRS”
means the International Financial Reporting Standards promulgated by the International Accounting Standards Board or any successor
board or agency (and, at the irrevocable option of the Issuer, as adopted by the European Union), as in effect on the Issue Date;
provided that the Issuer may, at any time, irrevocably elect by written notice to the Trustee to use IFRS as in effect from
time to time, and, upon such notice, references herein to IFRS shall thereafter be construed to mean IFRS as in effect from time
to time. The Issuer also may, at any time, irrevocably elect by written notice to the Trustee to use GAAP as in effect from time
to time in lieu of IFRS and, upon such notice, references herein to IFRS shall thereafter be construed to mean GAAP as in effect
from time to time; provided that upon first reporting its fiscal year results under GAAP, the Issuer shall restate the financial
statements required to be delivered under Section 4.03, on the basis of GAAP for the fiscal year ending immediately prior to the
first fiscal year for which financial statements have been prepared on the basis of GAAP.

 

    		13	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0883
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

“Incur”
means, with respect to any Debt or other obligation of any Person, to create, issue, incur (by conversion, exchange or otherwise),
assume, Guarantee or otherwise become liable in respect of such Debt or other obligation, including by acquisition of Subsidiaries
(the Debt of any other Person becoming a Subsidiary of such Person being deemed for this purpose to have been incurred at the time
such other Person becomes a Subsidiary), or the recording, as required pursuant to IFRS or otherwise, of any such Debt or other
obligation on the statement of financial position of such Person (and “Incurrence,” “Incurred,” “Incurrable”
and “Incurring” shall have meanings correlative to the foregoing); provided, however, that a change in
IFRS that results in an obligation of such Person that exists at such time becoming Debt shall not be deemed an Incurrence of such
Debt. If any Person becomes a Restricted Subsidiary on any date after the date of this Indenture (including by Redesignation of
an Unrestricted Subsidiary), the Debt of such Person outstanding on such date will be deemed to have been Incurred by such Person
on such date for purposes of Section 4.09.

 

“Indenture”
means this Indenture, as amended or supplemented from time to time.

 

“Indirect
Participant” means a Person who holds a Book-Entry Interest in a Global Note through a Participant.

 

“Interest
Rate, Currency or Commodity Price Agreement” of any Person means any forward contract, futures contract, swap, option
or other financial agreement or arrangement (including, without limitation, caps, floors, collars and similar agreements) relating
to, or the value of which is dependent upon, interest rates, currency exchange rates or commodity prices or indices (excluding
contracts for the purchase or sale of goods in the ordinary course of business).

 

“Investment”
by any Person means any direct or indirect loan, advance or other extension of credit or capital contribution (by means of transfers
of cash or other property to others or payments for property or services for the account or use of others, or otherwise) to, or
purchase or acquisition of Capital Stock, bonds, notes, debentures or other securities or evidence of Debt issued by, any other
Person, including any payment on a Guarantee of any obligation of such other Person, together with all items that are or would
be classified as Investments on a statement of financial position (excluding the footnotes thereto) prepared in accordance with
IFRS, but shall not include (a) trade accounts receivable in the ordinary course of business on credit terms made generally available
to the customers of such Person, or (b) commission, travel, payroll, entertainment, relocation and similar advances to officers
and employees and profit sharing and other employee benefit plan contributions made in the ordinary course of business. Except
as otherwise provided in this Indenture, the amount of an Investment will be determined at the time the Investment is made and
without giving effect to a subsequent change in value and, to the extent applicable, shall be determined based on the equity value
of such Investment.

 

“Investment
Grade” means (i) BBB- or above in the case of Fitch (or its equivalent under any successor Rating Categories of Fitch),
(ii) Baa3 or above, in the case of Moody’s (or its equivalent under any successor Rating Categories of Moody’s), and
(iii) the equivalent in respect of the Rating Categories of any Rating Agencies.

 

“Issue Date”
means October 16, 2018.

 

“Issuer”
means Millicom International Cellular S.A.

 

“Joint
Venture Consolidated EBITDA” means an amount equal to the product of (i) the Consolidated EBITDA of any joint venture
(determined in good faith by a responsible financial or accounting officer of the Issuer on the same basis as provided for in the
definition of “Consolidated EBITDA” (with the exception of clause (i) and the last sentence thereof) as if each reference
to the “Issuer and its Restricted Subsidiaries” in such definition was to such joint venture) whose financial results
are not consolidated with those of the Issuer in accordance with IFRS and (ii) a percentage equal to the direct or indirect equity
ownership percentage of the Issuer and/or its Restricted Subsidiaries in the Capital Stock of such joint venture and its Subsidiaries.

 

    		14	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0884
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

“Lien”
means, with respect to any property or assets, any mortgage, pledge, security interest, lien, charge, encumbrance, priority or
other security agreement or preferential arrangement of any kind or nature whatsoever on or with respect to such property or assets
(including, without limitation, any conditional sale or other title retention agreement having substantially the same economic
effect as any of the foregoing).

 

“Limited
Condition Transaction” means (i) any Investment or acquisition, including by way of merger, amalgamation or consolidation,
in each case, by one or more of the Issuer and its Restricted Subsidiaries of any assets, business or Person whose consummation
is not conditioned on the availability of, or on obtaining, third party financing and (ii) any redemption, repurchase, defeasance,
satisfaction and discharge or repayment of Debt requiring irrevocable notice in advance of such redemption, repurchase, defeasance,
satisfaction and discharge or repayment.

 

“Luxembourg”
means the Grand Duchy of Luxembourg.

 

“Minority
Shareholder Loan” means Debt of a Restricted Subsidiary of the Issuer that is issued to and held by an equity owner of
such Restricted Subsidiary, other than the Issuer or a subsidiary of the Issuer.

 

“Moody’s”
means Moody’s Investor Service, Inc. and its successors.

 

“Net Available
Proceeds” from any Asset Disposition means cash or readily marketable cash equivalents received (including by way of
sale or discounting of a note, installment receivable or other receivable, but excluding any assets described in clauses (4) and
(5) of Section 4.10(b) hereof and other consideration received in the form of assumption by the acquirer of Debt or other obligations
relating to such properties or assets) therefrom by the Issuer or any of its Restricted Subsidiaries, net of:

 

(a)          all
legal, title and recording tax expenses, commissions and other fees and expenses incurred, including, without limitation, legal,
consultant, accounting and investment banking fees, sales commissions, discounts and brokerage costs, and all federal, state, provincial,
foreign and local taxes required to be accrued as a liability as a consequence of such Asset Disposition;

 

(b)          all
payments made by the Issuer or any of its Restricted Subsidiaries, on any Debt which is secured by such assets in accordance with
the terms of any Lien upon or with respect to such assets or which must by the terms of such Debt or Lien, or in order to obtain
a necessary consent to such Asset Disposition or by applicable law, be repaid out of the proceeds from such Asset Disposition;

 

(c)          all
distributions and other payments made to other equity holders in the Issuer’s Subsidiaries or joint ventures as a result
of such Asset Disposition; and

 

(d)          appropriate
amounts to be provided by the Issuer or any of its Restricted Subsidiaries, as the case may be, as a reserve in accordance with
IFRS, against any liabilities associated with such assets and retained by the Issuer or any of its Restricted Subsidiaries, as
the case may be, after such Asset Disposition, including, without limitation, liabilities under any indemnification obligations,
relocation costs and severance and other employee termination costs associated with such Asset Disposition, in each case as determined
by the Issuer’s Board of Directors, in its reasonable good faith judgment.

 

    		15	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0885
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

“Net Leverage
Ratio” means, as of any date of determination, the ratio of (1) the Consolidated Net Debt outstanding on such date to
(2) the Consolidated EBITDA for the four most recent full fiscal quarters ending immediately prior to such date for which consolidated
financial statements are available, determined, in each case, on a pro forma basis as if any such Debt had been Incurred, or such
other Debt had been repaid, redeemed or repurchased, as applicable, at the beginning of such four fiscal quarter period; provided,
however, that the pro forma calculation shall not give effect to (i) any Debt Incurred on such determination date pursuant to Section
4.09(b) hereof (other than Debt Incurred pursuant to clause (6) of Section 4.09(b) hereof), or (ii) the discharge on such determination
date of any Debt to the extent that such discharge results from the proceeds Incurred pursuant to Section 4.09(b) hereof (other
than the discharge of Debt using proceeds of Debt Incurred pursuant to clause (6) of Section 4.09(b) hereof). For the avoidance
of doubt, in determining Net Leverage Ratio, no cash or Cash Equivalents shall be included that are the proceeds of Debt in respect
of which the pro forma calculation is to be made.

 

“Offer
to Purchase” means a written offer (the “Offer”) sent by the Issuer by first class mail, postage prepaid,
to each Holder at his address appearing on the Registrar’s books on the date of the Offer offering to purchase up to the
principal amount of Notes specified in such Offer at the purchase price specified in such Offer (as determined pursuant to this
Indenture). Unless otherwise required by applicable law, the Offer shall specify an expiration date (the “Expiration Date”)
of the Offer to Purchase which shall be, subject to any contrary requirements of applicable law, not less than 10 days or more
than 60 days after the date of such Offer and a settlement date (the “Purchase Date”) for purchase of Notes
within five Business Days after the Expiration Date. The Issuer shall notify the Trustee at least 15 Business Days (or such shorter
period as is acceptable to the Trustee) prior to the mailing of the Offer of the Issuer’s obligation to make an Offer to
Purchase, and the Offer shall be mailed by the Issuer or, at the Issuer’s request, by the Trustee in the name and at the
expense of the Issuer. The Offer shall contain all instructions and materials necessary to enable such Holders to tender Notes
pursuant to the Offer to Purchase. The Offer shall also state:

 

(a)          the
Section of this Indenture pursuant to which the Offer to Purchase is being made;

 

(b)          the
Expiration Date and the Purchase Date;

 

(c)          the
aggregate principal amount of the Outstanding Notes offered to be purchased by the Issuer pursuant to the Offer to Purchase (including,
if less than 100%, the manner by which such has been determined pursuant to the Section of this Indenture requiring the Offer to
Purchase) (the “Purchase Amount”);

 

(d)          the
purchase price to be paid by the Issuer for each $1,000 aggregate principal amount of Notes accepted for payment (as specified
pursuant to this Indenture) (the “Purchase Price”);

 

(e)          that
each Holder may tender all or any portion of the Notes registered in the name of such Holder and that any portion of a Note tendered
must be tendered in minimum amounts of $200,000 and integral multiples of $1,000 in excess thereof;

 

(f)     
     the place or places where Notes are to be surrendered for tender pursuant to the Offer to
Purchase;

 

(g)          that
interest on any Note not tendered or tendered but not purchased by the Issuer pursuant to the Offer to Purchase will continue to
accrue;

 

(h)          that
on the Purchase Date the Purchase Price will become due and payable upon each Note being accepted for payment pursuant to the Offer
to Purchase and that interest thereon shall cease to accrue on and after the Purchase Date;

 

(i)          that
each Holder electing to tender a Note pursuant to the Offer to Purchase will be required to surrender such Note at the place or
places specified in the Offer prior to the close of business on the Expiration Date (such Note being, if the Issuer or the Trustee
so requires, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Trustee
duly executed by, the Holder thereof or his attorney duly authorized in writing);

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0886
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(j)          that
Holders will be entitled to withdraw all or any portion of Notes tendered if the Issuer (or their paying agent) receives, not later
than the close of business on the Expiration Date, telex, facsimile transmission or letter setting forth the name of such Holder,
the principal amount of the Note such Holder tendered, the certificate number of such Note and a statement that such Holder is
withdrawing all or a portion of his tender;

 

(k)          that
(a) if Notes in an aggregate principal amount less than or equal to the Purchase Amount are duly tendered and not withdrawn pursuant
to the Offer to Purchase, the Issuer shall purchase all such Notes and (b) if Notes in an aggregate principal amount in excess
of the Purchase Amount are tendered and not withdrawn pursuant to the Offer to Purchase, the Issuer shall purchase Notes having
an aggregate principal amount equal to the Purchase Amount on a pro rata basis (with such adjustments as may be deemed appropriate
so that only Notes in denominations of $1,000 or integral multiples thereof shall be purchased and provided that Notes of $200,000
or less may only be purchased in whole and not in part); and

 

(l)          that
in the case of any Holder whose Note is purchased only in part, the Issuer shall execute, and the Trustee shall authenticate and
deliver to the Holder of such Note without service charge, a new Note or Notes, of any authorized denomination as requested by
such Holder, in an aggregate principal amount equal to and in exchange for the unpurchased portion of the Note so tendered.

 

Any Offer to Purchase
shall be governed by and effected in accordance with the Offer for such Offer to Purchase.

 

For so long as the
Notes are listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market, and the
rules of the Luxembourg Stock Exchange so require, the Issuer will, to the extent and in the manner permitted by such rules, post
notices relating to the Offer to Purchase on the official website of the Luxembourg Stock Exchange (www.bourse.lu).

 

“Offering
Memorandum” means the offering memorandum dated October 11, 2018 relating to the offering of the Initial Notes.

 

“Officer”
means the Chief Executive Officer or the Chief Financial Officer of the Issuer or a responsible accounting, financial officer or
any authorized signatory of the Issuer.

 

“Officer’s
Certificate” means a certificate signed by the Chairman of the Board of Directors, any Vice Chairman of the Board of
Directors, any Director or Manager as the case may be, the Chief Executive Officer, the Chief Financial Officer, any Executive
or Senior Vice President, or the Secretary of the Board of the Issuer, and delivered to the Trustee and, where applicable, the
paying agent.

 

“Opinion
of Counsel” means a written opinion from legal counsel (in form and substance reasonably acceptable to the Trustee, where
such opinion is addressed to, or is for the benefit of the Trustee) that meets the requirements of Section 14.04 hereof. The counsel
may be an employee of or counsel to the Issuer or any of its Subsidiaries.

 

“Outstanding,”
when used with respect to the Notes, means, as of the date of determination, all Notes theretofore authenticated and delivered
under this Indenture, except:

 

(a)          Notes
theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;

 

    		17	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0887
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(b)          Notes
for whose payment or redemption money in the necessary amount has been theretofore deposited with the Trustee in trust or any paying
agent (other than the Issuer) or set aside and segregated in trust by the Issuer (if the Issuer shall act as its own paying agent)
for the Holders of such Notes; provided that, if such Notes 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

 

(c)          Notes
which have been paid or in exchange for or in lieu of which other Notes have been authenticated and delivered pursuant to this
Indenture, other than any such Notes in respect of which there shall have been presented to the Trustee proof satisfactory to it
that such Notes are held by a bona fide purchaser in whose hands such Notes are valid obligations of the Issuer; provided,
however, that in determining whether the Holders of the requisite principal amount of the Outstanding Notes have given any
request, demand, authorization, direction, notice, consent or waiver hereunder, Notes owned by the Issuer or any other obligor
upon the Notes or any Affiliate of the Issuer 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 Notes which the Trustee knows to be so owned shall be so disregarded. Notes 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 Notes and that the pledgee is not the Issuer or any other obligor upon the Notes or any Affiliate
of the Issuer or of such other obligor.

 

“Pari Passu
Debt” means any Debt of the Issuer that ranks pari passu in right of payment to the Notes.

 

“Participant”
means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the Depositary, Euroclear or
Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream).

 

“Permitted
Asset Swap” means the concurrent purchase and sale or exchange of related business assets or a combination of related
business assets, cash and Cash Equivalents between the Issuer or any of its Restricted Subsidiaries and another Person.

 

“Permitted
Holders” means the Equity Investor and its Related Parties.

 

“Permitted
Interest Rate, Currency or Commodity Price Agreement” of any Person means any Interest Rate, Currency or Commodity Price
Agreement entered into with one or more financial institutions in the ordinary course of business that is designed to protect such
Person against fluctuations in interest rates or currency exchange rates or with respect to Debt Incurred and which shall have
a notional amount no greater than the payments due with respect to the Debt being hedged thereby, or in the case of currency or
commodity protection agreements against currency exchange or commodity price fluctuations in the ordinary course of business relating
to then existing financial obligations and not for purposes of speculation.

 

“Permitted
Investments” means (1) loans or advances to employees and officers (or loans to any direct or indirect parent, the proceeds
of which are used to make loans or advances to employees or officers, or Guarantees of third-party loans to employees or officers)
in the ordinary course of business; and (2) customary cash management, cash pooling or netting or setting off arrangements; and
(3) the granting of Liens pursuant to clause (ll) of the definition of Permitted Liens.

 

“Permitted
Liens” means:

 

(a)          Liens
for taxes, assessments or governmental charges or levies on the property of the Issuer or any of its Restricted Subsidiaries if
the same shall not at the time be delinquent or thereafter can be paid without penalty, or are being contested in good faith and
by appropriate proceeds promptly instituted and diligently concluded; provided that any reserve or other appropriate provision
that shall be required in conformity with IFRS shall have been made therefor;

 

    		18	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0888
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(b)          Liens
imposed by law, such as statutory Liens of landlords’, carriers’, materialmen’s, repairmen’s, construction,
warehousemen’s and mechanics’ Liens and other similar Liens, on the property of the Issuer or any of its Restricted
Subsidiaries arising in the ordinary course of business or Liens arising solely by virtue of any statutory or common law provisions
relating to attorney’s liens or bankers’ liens, rights of set-off or similar rights and remedies as to deposit accounts
or other funds maintained with a creditor depositary institution;

 

(c)          Liens
on the property of the Issuer or any of its Restricted Subsidiaries Incurred in the ordinary course of business to secure performance
of obligations with respect to statutory or regulatory requirements, performance bids, trade contracts, letters of credit, performance
or return-of-money bonds, surety bonds or other obligations of a like nature and Incurred in a manner consistent with industry
practice, in each case which are not Incurred in connection with the borrowing of money, the obtaining of advances or credit or
the payment of the deferred purchase price of property and which do not in the aggregate impair in any material respect the use
of property in the operation of the business of the Issuer and its Restricted Subsidiaries taken as a whole;

 

(d)          Liens
on property at the time the Issuer or any of its Restricted Subsidiaries acquired such property and Liens Incurred in anticipation
of or in connection with the transaction or series of transactions pursuant to which such property was acquired by the Issuer or
its Restricted Subsidiaries; provided, however, that any such Lien may not extend to any other property of the Issuer or
any of its Restricted Subsidiaries;

 

(e)          Liens
on the property of a Person at the time such Person becomes a Restricted Subsidiary (including Liens created, incurred or assumed
in connection with or in contemplation of such acquisition or transaction); provided, however, that any such Lien
may not extend to any other property of the Issuer or any other Restricted Subsidiary that is not a Restricted Subsidiary of such
Person (other than pursuant to after-acquired property clauses in effect with respect to such Lien at the time of acquisition on
property of the type that would have been subject to such Lien notwithstanding the occurrence of such acquisition);

 

(f)    
      pledges or deposits by the Issuer or any of its Restricted Subsidiaries under
workmen’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection
with bids, tenders, contracts (other than for the payment of Debt) or leases to which the Issuer or any of its Restricted
Subsidiaries is party, or deposits to secure public or statutory obligations of the Issuer or any of its Restricted
Subsidiaries or deposits for the payment of rent, in each case Incurred in the ordinary course of business;

 

(g)          utility
easements, building restrictions and such other encumbrances or charges against real property as are of a nature generally existing
with respect to properties of a similar character;

 

(h)          any
provision for the retention of title to any property by the vendor or transferor of such property which property is acquired by
the Issuer or a Restricted Subsidiary in a transaction entered into in the ordinary course of business of the Issuer or a Restricted
Subsidiary and for which kind of transaction it is customary market practice for such retention of title provision to be included;

 

(i)          Liens
arising by means of any judgment, decree or order of any court, to the extent not otherwise resulting in a Default hereunder so
long as any appropriate legal proceedings which may have been duly initiated for the review of such judgment, decree or order have
not been fully terminated or the period within which such proceedings may be initiated has not expired and any Liens that are required
to protect or enforce rights in any administrative, arbitration or other court proceeding in the ordinary course of business;

 

    		19	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0889
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(j)          Liens
securing any Credit Facility or any Permitted Interest Rate, Currency or Commodity Price Agreement;

 

(k)          [Reserved];

 

(l)      
    mortgages, liens, security interests, restrictions, encumbrances or any other matters of record that
have been placed by any developer, landlord or other third party on property over which the Issuer or any of its Restricted
Subsidiaries has easement rights or on any real property leased by the Issuer or any of its Restricted Subsidiaries or
similar agreements relating thereto and any condemnation or eminent domain proceedings or compulsory purchase order affecting
real property;

 

(m)         Liens
existing on the Issue Date;

 

(n)          Liens
in favor of the Issuer or any Restricted Subsidiary;

 

(o)          Liens
on insurance policies and the proceeds thereof, or other deposits, to secure insurance premium financings in respect of the Issuer
or any of its Restricted Subsidiaries;

 

(p)          Liens
arising from financing statement filings (or other similar filings in any applicable jurisdiction) regarding operating leases entered
into by any Restricted Subsidiary of the Issuer in the ordinary course of business;

 

(q)          Liens
on goods (and the proceeds thereof) and documents of title and the property covered thereby securing Debt in respect of commercial
letters of credit issued to facilitate the purchase, shipment or storage of such inventory or other goods;

 

(r)     
     Liens on property of any Restricted Subsidiary of the Issuer to secure Debt Incurred by such
Restricted Subsidiary pursuant to Section 4.09(a) hereof or clauses (9), (10), (11), (12) or (13) of Section 4.09(b)
hereof;

 

(s)          Liens
for the purpose of securing the payment of all or a part of the purchase price of Capital Lease Obligations or payments Incurred
by the Issuer or its Restricted Subsidiaries to finance the acquisition, improvement or construction of, assets or property acquired
or constructed in the ordinary course of business; provided that such Liens do not encumber any other assets or property
of the Issuer or its Restricted Subsidiaries other than such assets or property and assets affixed or appurtenant thereto;

 

(t)          Liens
on the property of the Issuer or any of its Restricted Subsidiaries to replace in whole or in part, any Lien described in the foregoing
clauses (a) through (s); provided that any such Lien is limited to all or part of the same property or assets (plus improvements,
accessions, proceeds or dividends or distributions in respect thereof) that secured (or, under the written arrangements under which
the original Lien arose, could secure) the Debt being refinanced or in respect of property that is the security for a Permitted
Lien hereunder;

 

(u)          any
interest or title of a lessor under any Capital Lease Obligation or operating lease;

 

(v)  
       Liens on any escrow account used in connection with an acquisition of property or
Capital Stock of any Person or pre-funding a refinancing of Debt otherwise permissible by this Indenture;

 

(w)         Liens
on the Issuer’s and any of its Restricted Subsidiaries’ deposits in favor of financial institutions arising from any
netting or set-off arrangement substantially consistent with its current practice for the purpose of netting debt and credit balances
substantially consistent with the Issuer’s or the Restricted Subsidiaries’ existing cash pooling arrangements;

 

    		20	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0890
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(x)          Liens
incurred in the ordinary course of business of the Issuer or any of its Restricted Subsidiaries with respect to obligations that
do not exceed the greater of $250 million or 4% of Total Assets at any one time outstanding and that do not in the aggregate materially
detract from the value of the property of the Issuer, or materially impair the use thereof in the operation of business by the
Issuer and its Restricted Subsidiaries;

 

(y)          Liens
over cash or other assets that secure collateralized obligations Incurred as Permitted Debt; provided that the amount of
cash collateral does not exceed the principal amount of the Permitted Debt;

 

(z)          Liens
on Restricted MFS Cash in favor of the customers or dealers of, or third parties in relation to, one or more of the Issuer’s
Restricted Subsidiaries engaged in the provision of mobile financial services, in each case who provided such Restricted MFS Cash
to the relevant Restricted Subsidiary;

 

(aa)        Liens
on Receivables and related assets of the type described in the definition of “Qualified Receivables Transaction” Incurred
in connection with a Qualified Receivables Transaction, and Liens on Investments in Receivables Entities;

 

(bb)        Liens
consisting of any right of set-off granted to any financial institution acting as a lockbox bank in connection with a Qualified
Receivables Transaction;

 

(cc)         Liens
for the purpose of perfecting the ownership interests of a purchaser of Receivables and related assets pursuant to any Qualified
Receivables Transaction;

 

(dd)        [Reserved];

 

(ee)         Liens
arising in connection with other sales of Receivables permitted hereunder without recourse to the Issuer or any of its Restricted
Subsidiaries;

 

(ff)    
    Liens on Receivables and related assets of the type specified in the definition of
“Qualified Receivables Transaction” pursuant to any Qualified Receivables Transaction;

 

(gg)        Liens
for the purpose of securing the payment of all or a part of the purchase price of, or Capital Lease Obligations, Purchase Money
Obligations or other payments Incurred to finance the acquisition, improvement or construction of, assets or property acquired
or constructed in the ordinary course of business (including Liens arising out of conditional sale, title retention, hire purchase,
consignment or similar arrangements for the sale of goods entered into in the ordinary course of business), provided that
such Liens do not encumber any other assets or property of the Issuer or any Restricted Subsidiary other than such assets or property
and assets affixed or appurtenant thereto;

 

(hh)        Liens
securing Debt or other obligations of a Restricted Subsidiary owing to the Issuer or another Restricted Subsidiary;

 

(ii)     
   Liens in respect of the ownership interests in, or assets owned by, any joint ventures or similar
arrangements, other than joint ventures and similar arrangements that are Restricted Subsidiaries, securing obligations of
such joint ventures or similar agreements;

 

(jj)       
 any encumbrance or restriction (including, but not limited to, put and call arrangements) with respect to Capital Stock
of any joint venture or similar arrangement pursuant to any joint venture or similar agreement;

 

(kk)        Liens
over rights under loan agreements relating to, or over notes or similar instruments evidencing, the on-loan of proceeds received
by a Restricted Subsidiary from the issuance of Debt, which Liens are created to secure payment of such Debt; and

 

    		21	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0891
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(ll)         Liens on Capital Stock or other securities or assets of any Unrestricted Subsidiary that secure Debt
of such Unrestricted Subsidiary.

 

“Permitted
Refinancing Debt” means any renewals, extensions, substitutions, defeasances, discharges, refinancings or replacements
(each, for purposes of this definition and clause (8) of Section 4.09(b) hereof, a “refinancing”) of any Debt
of the Issuer or a Restricted Subsidiary of the Issuer or pursuant to this definition, including any successive refinancings, as
long as:

 

(a)          such
Permitted Refinancing Debt is in an aggregate principal amount (or if Incurred with original issue discount, an aggregate issue
price) not in excess of the sum of: (i) the aggregate principal amount (or if Incurred with original issue discount, the aggregate
accreted value plus all accrued interest) then outstanding of the Debt being refinanced; and (ii) an amount necessary to pay any
fees and expenses, including premiums and defeasance costs, related to such refinancing;

 

(b)          such
Permitted Refinancing Debt has (i) a Stated Maturity that is either (X) no earlier than the Stated Maturity of the Debt being refinanced
or (Y) after the Stated Maturity of the Notes and (ii) a Weighted-Average Life to Maturity that is equal to or greater than the
Weighted-Average Life to Maturity of the Debt being refinanced; and

 

(c)          if
the Debt being refinanced is subordinated in right of payment to the Notes, such Permitted Refinancing Debt is subordinated in
right of payment to, the Notes on terms at least as favorable to the Holders of Notes as those contained in the documentation governing
the Debt being refinanced; and

 

(d)          if
the Issuer was the obligor on the Debt being refinanced, such Permitted Refinancing Debt is Incurred by the Issuer.

 

Permitted Refinancing
Debt in respect of any Credit Facility or any other Debt may be Incurred from time to time after the termination, discharge or
repayment of all or any part of such Credit Facility or other Debt. Permitted Refinancing Debt shall not include any Debt of the
Issuer or any Restricted Subsidiary that refinances Debt of an Unrestricted Subsidiary.

 

“Person”
means any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization,
limited liability company or government or other entity.

 

“Preferred
Stock” of any Person means Capital Stock of such Person of any class or classes (however designated) that ranks prior,
as to the payment of dividends or as to the distribution of assets upon any voluntary or involuntary liquidation, dissolution or
winding up of such Person, to shares of Capital Stock of any other class of such Person.

 

“Private
Placement Legend” means the legend set forth in Section 2.06(f)(1) hereof to be placed on all Notes issued under this
Indenture except where otherwise permitted by the provisions of this Indenture.

 

“Purchase
Money Note” means a promissory note of a Receivables Entity evidencing the deferred purchase price of Receivables (and
related assets) and/or a line of credit, which may be irrevocable, from the Issuer or any Restricted Subsidiary in connection with
a Qualified Receivables Transaction with a Receivables Entity, which note is intended to finance that portion of the purchase price
that is not paid in cash or a contribution of equity and which is (a) repayable from cash available to the Receivables Entity,
other than (i) amounts required to be established as reserves pursuant to agreements, (ii) amounts paid to investors in respect
of interest, (iii) principal and other amounts owing to such investors and (iv) amounts owing to such investors and amounts paid
in connection with the purchase of newly generated Receivables and (b) may be subordinated to the payments described in clause
(a).

 

    		22	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0892
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

“Purchase
Money Obligations” means any Debt Incurred to finance or refinance the acquisition, leasing, construction or improvement
of property (real or personal) or assets (including Capital Stock), and whether acquired through the direct acquisition of such
property or assets or the acquisition of the Capital Stock of any Person owning such property or assets, or otherwise.

 

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

 

“Qualified
Capital Stock” of any Person means any and all Capital Stock of such Person other than Redeemable Stock.

 

“Qualified
Receivables Transaction” means any transaction or series of transactions that may be entered into by the Issuer or any
of its Restricted Subsidiaries pursuant to which the Issuer or any of its Restricted Subsidiaries may sell, convey or otherwise
transfer to (1) a Receivables Entity (in the case of a transfer by the Issuer or any of the Restricted Subsidiaries) and (2) any
other Person (in the case of a transfer by a Receivables Entity), or may grant a Lien in, any Receivables (whether now existing
or arising in the future) of the Issuer or any of the Restricted Subsidiaries, and any assets related thereto including, without
limitation, all collateral securing such Receivables, all contracts and all guarantees or other obligations in respect of such
accounts receivable, the proceeds of such Receivables and other assets which are customarily transferred, or in respect of which
Liens are customarily granted, in connection with asset securitization involving Receivables and any Interest Rate, Currency or
Commodity Price Agreement entered into by the Issuer or any such Restricted Subsidiary in connection with such Receivables.

 

“Rating
Agency” means each of (i) Fitch, Moody’s and S&P or (ii) if any of Fitch, Moody’s or S&P are not
making ratings of the Notes publicly available, an internationally recognized rating agency or agencies, as the case may be, selected
by the Issuer, which will be substituted for any of Fitch, Moody’s, S&P, as the case may be.

 

“Rating
Category” means (i) with respect to Fitch, any of the following categories (any of which may include a “+”
or “-”): AAA, AA, A, BBB, BB, B, CCC, CC, C, R, SD and D (or equivalent successor categories); (ii) with respect to
Moody’s, any of the following categories (any of which may include a “1,” “2” or “3”):
Aaa, Aa, A, Baa, Ba, B, Caa, Ca, and C (or equivalent successor categories), and (iii) the equivalent of any such categories of
Fitch or Moody’s used by another Rating Agency, if applicable.

 

“Rating
Date” means the date which is the earlier of (i) 120 days prior to the occurrence of an event specified in clauses (1),
(2) or (3) of the definition of Change of Control and (ii) the date of the first public announcement of the possibility of such
event.

 

“Rating
Decline” means the occurrence of, at any time within the earlier of (i) 90 days after the date of public notice of a
Change of Control, or of the Issuer’s intention or the intention of any Person to effect a Change of Control and (ii) the
occurrence of the Change in Control (which period shall in either event be extended so long as the rating of the Notes is under
publicly announced consideration for possible downgrade by a Rating Agency), a Rating Agency withdrawal of its rating of the Notes
or a decrease in the rating of the Notes by a Rating Agency as follows:

 

(a)          if
the Notes are not rated Investment Grade by at least two of the three Rating Agencies on the Rating Date, by one or more Gradations;
or

 

(b)          if
the Notes are rated Investment Grade by at least two of the three Rating Agencies on the Rating Date, either (i) by two or more
Gradations or (ii) such that the Notes are no longer rated Investment Grade, provided that, when announcing the relevant
decision(s) to withdraw or decrease the rating, each such Rating Agency announces publicly or confirms in writing that such decision(s)
resulted, in whole or in part, from the occurrence (or expected occurrence) of the Change of Control or the Issuer’s announcement
of the intention to effect a Change of Control.

 

    		23	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0893
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

“Receivable”
means a right to receive payment arising from a sale or lease of goods or the performance of services by a Person pursuant to an
arrangement with another Person pursuant to which such other Person is obligated to pay for goods or services under terms that
permit the purchase of such goods and services on credit and shall include, in any event, any items of property that would be classified
as an “account,” “chattel paper,” “payment intangible” or “instrument” under the
Uniform Commercial Code as in effect in the State of New York and any “supporting obligations” as so defined.

 

“Receivables
Entity” means a Wholly-Owned Subsidiary of the Issuer (or another Person in which the Issuer or any Restricted Subsidiary
makes an Investment or to which the Issuer or any Restricted Subsidiary transfers Receivables and related assets) which engages
in no activities other than in connection with the financing of Receivables and which is designated by the Board of Directors or
senior management of the Issuer (as provided below) as a Receivables Entity:

 

(a)          no
portion of the Debt or any other obligations (contingent or otherwise) of which:

 

(i)          is
Guaranteed by the Issuer or any Restricted Subsidiary (excluding guarantees of obligations (other than the principal of, and interest
on, Debt) pursuant to Standard Securitization Undertakings);

 

(ii)         is
recourse to or obligates the Issuer or any Restricted Subsidiary in any way other than pursuant to Standard Securitization Undertakings;
or

 

(iii)        subjects
any property or asset of the Issuer or any Restricted Subsidiary, directly or indirectly, contingently or otherwise, to the satisfaction
thereof, other than pursuant to Standard Securitization Undertakings, except, in each such case, Permitted Liens as defined in
clauses (aa) through (ff) of the definition thereof;

 

(b)          with
which neither the Issuer nor any Restricted Subsidiary has any material contract, agreement, arrangement or understanding (except
in connection with a Purchase Money Note or Qualified Receivables Transaction) other than on terms not materially less favorable
to the Issuer or such Restricted Subsidiary than those that might be obtained at the time from Persons that are not Affiliates
of the Issuer, other than fees payable in the ordinary course of business in connection with servicing Receivables; and

 

(c)          to
which neither the Issuer nor any Restricted Subsidiary has any obligation to maintain or preserve such entity’s financial
condition or cause such entity to achieve certain levels of operating results (other than those related to or incidental to the
relevant Qualified Receivables Transaction).

 

Any such designation
by the Board of Directors or senior management of Issuer shall be evidenced to the Trustee by promptly filing with the Trustee
a certified copy of the resolution of the Board of Directors of Issuer giving effect to such designation or an Officer’s
Certificate certifying that such designation complied with the foregoing conditions.

 

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

 

“Receivables
Repurchase Obligation” means any obligation of a seller of Receivables in a Qualified Receivables Transaction to repurchase
Receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a
receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim of any kind as a result
of any action taken by, any failure to take action by or any other event relating to the seller.

 

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“Redeemable
Stock” of any Person means any Capital Stock of such Person that by its terms (or by the terms of any security into which
it is convertible or for which it is exchangeable) or otherwise (including upon the occurrence of an event) matures or is required
to be redeemed (pursuant to any sinking fund obligation or otherwise) or is convertible into or exchangeable for Debt or is redeemable
at the option of the holder thereof, in whole or in part, at any time prior to the final Stated Maturity of the Notes.

 

“Regulation
S” means Regulation S promulgated under the U.S. Securities Act.

 

“Regulation
S Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend
and the Private Placement Legend and deposited with the Common Depositary and registered in the name of Citivic Nominees Limited,
as nominee for the Common Depositary, that will be issued in an initial amount equal to the principal amount of the Notes initially
resold in reliance on Regulation S.

 

“Related
Business” means (i) any business, services or activities engaged in by the Issuer or any of its Subsidiaries on the Issue
Date and (ii) any business, services and activities that are related, complementary, incidental, ancillary or similar to any of
the foregoing, or are extensions or developments thereof, including, without limitation, broadband internet, network-related services,
cable television, broadcast content, network neutral services, electronic transactional, financial and commercial services related
to provision of telephony or internet services.

 

“Related
Party” means:

 

(a)          any
controlling stockholder, partner or member, or any 50% (or more) owned Subsidiary, of the Equity Investor; and

 

(b)          any
trust, corporation, partnership or other entity, the beneficiaries, stockholders, partners, owners or Person Beneficially Owning
a majority or a controlling interest of which consists of the Equity Investor and/or such other Persons referred to in clause (a).

 

“Responsible
Officer,” when used with respect to the Trustee, means any officer within the corporate trust department of the Trustee
(or any successor of the Trustee) including any managing director, director, vice president, assistant vice president, assistant
secretary, assistant treasurer, trust officer or any other officer or assistant 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
and, in each case, who shall have direct responsibility for the administration of this Indenture.

 

“Restricted
Cash” means the sum of (i) Restricted MFS Cash and (ii) without duplication, the amount of cash that would be stated
as “restricted cash” on the consolidated statement of financial position of the Issuer as of such date in accordance
with IFRS.

 

“Restricted
MFS Cash” means, as of any date of determination, an amount equal to any cash paid in or deposited by or held on behalf
of any customer or dealer of, or any other third party in relation to, one or more of the Issuer’s Restricted Subsidiaries
engaged in the provision of mobile financial services and designated as “restricted cash” on the consolidated statement
of financial position of the Issuer, together with any interest thereon.

 

“Restricted
Period” means the 40-day distribution compliance period as defined in Regulation S.

 

“Restricted
Subsidiary” means any Subsidiary of the Issuer other than an Unrestricted Subsidiary.

 

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

 

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

 

“Rule 144A
Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend
and the Private Placement Legend and deposited with a Custodian and registered in the name of Cede & Co., as nominee for DTC,
that will be issued in an initial amount equal to the principal amount of the Notes initially resold in reliance on Rule 144A.

 

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

 

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

 

“S&P”
means Standard & Poor’s Ratings Services.

 

“Sale/Leaseback
Transaction” means an arrangement relating to property now owned or hereafter acquired whereby the Issuer or its Restricted
Subsidiary transfers such property to a Person and the Issuer or any of its Restricted Subsidiaries leases it from such Person.

 

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

 

“Senior
Secured Debt” means, as of any date of determination, any Debt of (a) the Issuer that is secured by a security interest
in any assets of the Issuer or any of its Restricted Subsidiaries and/or (b) any Restricted Subsidiary of the Issuer, other
than Debt Incurred pursuant to clauses (5) (to the extent such Guarantee is in respect of Debt otherwise permitted to be secured
by a security interest in any assets of the Issuer or any of its Restricted Subsidiaries and/or Incurred by a Restricted Subsidiary
of the Issuer, as applicable), (9), (10), (11), (12) and (13) of Section 4.09(b) hereof.

 

“Significant
Subsidiary” means, at the date of determination, any Restricted Subsidiary of the Issuer that (1) for the most recent
fiscal year, accounted for more than 10% of Consolidated EBITDA of the Issuer and its Restricted Subsidiaries or (2) as of the
end of the most recent fiscal year, was the owner of more than 10% of the consolidated assets of the Issuer and its Restricted
Subsidiaries.

 

“Specified
Legal Expenses” means, to the extent not constituting an extraordinary, non-recurring or unusual loss, charge or expense,
all attorneys’ and experts’ fees and expenses and all other costs, liabilities (including all damages, penalties, fines
and indemnification and settlement payments) and expenses paid or payable in connection with any threatened, pending, completed
or future claim, demand, action, suit, proceeding, inquiry or investigation (whether civil, criminal, administrative, governmental
or investigative).

 

“Specified
Subsidiary Sale” means the sale, transfer or other disposition of all of the Capital Stock, or all of the assets or properties
of, (a) any Person, the primary purpose of which is to own Tower Equipment located in any market in which the Issuer or its Restricted
Subsidiaries operate; (b) any Person which operates the Issuer’s or any Restricted Subsidiary of the Issuer’s mobile
financial services business; (c) Latin America Internet Holding GmbH (or any successor in interest thereto); or (d) Africa Internet
Holding GmbH (or any successor in interest thereto).

 

“Standard
Securitization Undertakings” means representations, warranties, covenants and indemnities entered into by the Issuer
or any Restricted Subsidiary which are reasonably customary in a securitization of Receivables transactions, including, without
limitation, those relating to the servicing of the assets of a Receivables Entity, it being understood that any Receivables Repurchase
Obligation shall be deemed to be a Standard Securitization Undertaking.

 

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“Stated
Maturity” when used with respect to any security or any installment of interest thereon, means the date specified in
such security as the fixed date on which the principal of such security or such installment of interest is due and payable, including
pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the
option of the holder thereof upon the happening of any contingency beyond the control of the issuer unless such contingency has
occurred).

 

“Stock
Purchase Agreement” means the share purchase agreement entered into on October 7, 2018 between Millicom LIH S.A., wholly
owned subsidiary of MIC S.A., MIC S.A. (solely for the purposes of Section 9.18 of the Stock Purchase Agreement) and the sellers
pursuant to which, among other things, Millicom LIH S.A. will complete the Acquisition on the Completion Date.

 

“Subsidiary”
of any Person means (i) a corporation more than 50% of the combined voting power of the outstanding Voting Stock of which is owned,
directly or indirectly, by such Person or by one or more other Subsidiaries of such Person or by such Person and one or more Subsidiaries
thereof or (ii) any other Person (other than a corporation) in which such Person, or one or more other Subsidiaries of such Person
or such Person and one or more other Subsidiaries thereof, directly or indirectly, has at least a majority ownership and power
to direct the policies, management and affairs thereof.

 

“Total
Assets” means the consolidated total assets of the Issuer and its Restricted Subsidiaries as shown on the Issuer’s
most recent consolidated statement of financial position prepared on the basis of IFRS prior to the relevant date of determination
calculated to give pro forma effect to any acquisitions (including through mergers or consolidations) and dispositions that
have occurred subsequent to such period, including any such acquisitions to be made with the proceeds of Debt giving rise to the
need to calculate Total Assets.

 

“Tower
Equipment” means passive infrastructure related to telecommunications services, excluding telecommunications equipment,
but including, without limitation, towers (including tower lights and lightning rods), power breakers, deep cycle batteries, generators,
voltage regulators, main AC power, rooftop masts, cable ladders, grounding, walls and fences, access roads, shelters, air conditioners
and BTS batteries owned by the Issuer or any of its Subsidiaries.

 

“Treasury
Rate” means, as at any redemption date, the yield to maturity as at such redemption date of United States Treasury securities
with a constant maturity (as complied and published in the most recent Federal Reserve Statistical Release H. 15 (519) that has
become publicly available at least two Business Days prior to the redemption date (or, if such Statistical Release is no longer
published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to October
15, 2021; provided, however, that if the period from the redemption date to October 15, 2021 is less than one year,
the weekly average yield on actually traded United States securities adjusted to a constant maturity of one year will be used.

 

“Trustee”
means Citibank, N.A., London Branch, until a successor replaces it in accordance with the applicable provisions of this Indenture
and thereafter means the successor serving hereunder.

 

“Unrestricted
Subsidiary” means any Subsidiary of the Issuer Designated as such pursuant to Section 4.24.

 

“U.S. Dollar
Equivalent” means with respect to any monetary amount in a currency other than U.S. Dollars, at any time of determination
thereof, the amount of U.S. Dollars obtained by translating such other currency involved in such computation into U.S. Dollars
at the spot rate for the purchase of U.S. Dollars with the applicable other currency as published in the Financial Times
on the date that is two Business Days prior to such determination.

 

“U.S. Dollars”
or “$” means and/or refers to the lawful currency of the United States.

 

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“U.S. Exchange
Act” means the U.S. Securities Exchange Act of 1934, as amended and the rules and regulations promulgated pursuant thereto.

 

“U.S. Government
Securities” means direct obligations of, or obligations guaranteed by, the United States of America, and the payment
for which the United States pledges its full faith and credit.

 

“U.S. Securities
Act” means the U.S. Securities Act of 1933, as amended and the rules and regulations promulgated pursuant thereto.

 

“U.S. Person”
means a U.S. Person as defined in Rule 902(k) promulgated under the U.S. Securities Act.

 

“Voting
Stock” of any person means Capital Stock of such Person which ordinarily has voting power for the election of directors
(or persons performing similar functions) of such Person, whether at all times or only so long as no senior class of securities
has such voting power by reason of any contingency.

 

“Weighted-Average
Life to Maturity” means, when applied to any Debt or Preferred Stock at any date, the number of years obtained by dividing
(a) the then outstanding principal amount of such Debt or liquidation preference of such Preferred Stock, as the case may be, into
(b) the total of the product obtained by multiplying (x) the amount of each then remaining installment, sinking fund, serial maturity
or other required payments of principal or upon mandatory redemption, including payment at final maturity, in respect thereof,
by (y) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment.

 

“Wholly-Owned
Subsidiary” means (1) in respect of any Person, a Person, all of the Capital Stock of which (other than (a) directors’
qualifying shares or an immaterial amount of shares required to be owned by other Persons pursuant to applicable law, regulation
or to ensure limited liability and (b) in the case of a Receivables Entity, shares held by a Person that is not an Affiliate of
the Issuer solely for the purpose of permitting such Person (or such Person’s designee) to vote with respect to customary
major events with respect to such Receivables Entity, including without limitation the institution of bankruptcy, insolvency or
other similar proceedings, any merger or dissolution, and any change in charter documents or other customary events) is owned by
that Person directly or (2) indirectly by a Person that satisfies the requirements of clause (1).

 

Section 1.02         Other
Definitions.

 

	Additional Amounts	Section 4.22(a)
	Authenticating Agent	Section 2.02
	Authentication Order	Section 2.02
	Authorized Agent	Section 14.06
	Change in Tax Law	Section 3.08(a)
	Change of Control Offer	Section 4.15(a)
	Covenant Defeasance	Section 8.03
	Designation	Section 4.24(a)
	Excess Proceeds	Section 4.10(d)
	Excess Proceeds Offer	Section 4.10(e)
	Indenture	Preamble
	Initial Notes	Preamble
	Issuer	Preamble
	Judgment Currency	Section 14.14
	LCT Election	Section 4.21(b)(2)
	LCT Test Date	Section 4.21(b)(2)
	Legal Defeasance	Section 8.02

 

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	Liability	Section 14.16(b)(1)
	Notes	Preamble
	Offer Amount	Section 3.12(b)
	Offer Period	Section 3.12(b)
	Paying Agent	Section 2.03
	Permitted Debt	Section 4.09(b)
	Purchase Date	Section 3.12(b)
	Redesignation	Section 4.24(c)
	Register	Section 2.03
	Registrar	Section 2.03
	Relevant Taxing Jurisdiction	Section 4.22(a)
	Required Currency	Section 14.14
	Resolution Authority	Section 14.16(b)(1)
	Suspension Period	Section 4.23(a)(2)
	Taxes	Section 4.22(a)
	Transfer Agent	Section 2.03
	Trustee	Section 8.05
	Write-down and Conversion Powers	Section 14.16(b)(1)

 

Section 1.03         [Reserved].

 

Section 1.04         Rules
of Construction.

 

Unless the context
otherwise requires:

 

(a)          a
term has the meaning assigned to it;

 

(b)          an
accounting term not otherwise defined has the meaning assigned to it in accordance with IFRS;

 

(c)          “or”
is not exclusive;

 

(d)          words
in the singular include the plural, and in the plural include the singular;

 

(e)          “will”
shall be interpreted to express a command;

 

(f)        
  provisions apply to successive events and transactions;

 

(g)          references
to sections of or rules under the U.S. Securities Act will be deemed to include substitute, replacement of successor sections or
rules adopted by the SEC from time to time;

 

(h)          all
references to the principal, premium, interest or any other amount payable pursuant to this Indenture shall be deemed also to refer
to any Additional Amounts which may be payable hereunder in respect of payments of principal, premium, interest and any other amounts
payable pursuant to this Indenture or any undertakings given in addition thereto or in substitution therefor pursuant to this Indenture
and express reference to the payment of Additional Amounts in any provisions hereof shall not be construed as excluding Additional
Amounts in those provisions hereof where such express reference is not made;

 

(i)     
     except as otherwise provided, whenever an amount is denominated in euro, it shall be deemed to
include the Euro Equivalent amounts denominated in other currencies, and, whenever an amount is denominated in dollars, it
shall be deemed to include the Dollar Equivalent amounts denominated in other currencies;

 

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(j)          any
reference herein to a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, disposition or transfer,
or similar term, shall be deemed to apply to a division of or by a limited liability company, limited partnership or trust, or
an allocation of assets to a series of a limited liability company, limited partnership or trust (or the unwinding of such a division
or allocation), as if it were a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale or transfer, or
similar term, as applicable, to, of or with a separate Person; any division of a limited liability company, limited partnership
or trust shall constitute a separate Person hereunder (and each division of any limited liability company, limited partnership
or trust that is a Subsidiary, Restricted Subsidiary, Unrestricted Subsidiary, joint venture or any other like term shall also
constitute such a Person or entity); and

 

(k)          unsecured
or unguaranteed Debt shall not be deemed to be subordinate or junior to secured Debt or guaranteed Debt merely by virtue of its
nature as unsecured or unguaranteed Debt.

 

Article
2

The
Notes

 

Section 2.01         Form
and Dating.

 

(a)          General.
The Notes and the Trustee’s or Authenticating Agent’s certificate of authentication will be substantially in the form
of Exhibit A hereto with such appropriate insertions, omissions, substitutions and other variations as are required or permitted
by this Indenture. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage and as provided
herein. The Issuer shall approve the form of the Notes and any notation, legend or endorsement thereon. Each Note will be dated
the date of its authentication. The terms and provisions contained in the Notes will constitute, and are hereby expressly made,
a part of this Indenture and the Issuer and the Trustee, by their execution and delivery of this Indenture, expressly agree to
such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express
provisions of this Indenture, the provisions of this Indenture shall govern and be controlling.

 

(b)          Global
Notes. Notes issued in global form will be substantially in the form of Exhibit A hereto (including the Global Note
Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note
will represent such of the Outstanding Notes as will be specified therein and each shall provide that it represents the aggregate
principal amount of Outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of Outstanding
Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions and
purchases and cancellations. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate
principal amount of Outstanding Notes represented thereby will be made by the Trustee or the Common Depositary or the Custodian
or the Paying Agent at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by
Section 2.06 hereof.

 

(c)          144A
Global Notes and Regulation S Global Notes. Notes sold within the United States to QIBs pursuant to Rule 144A under the U.S.
Securities Act shall be issued initially in the form of a Rule 144A Global Note, which shall be deposited with a Custodian for
DTC and registered in the name of Cede & Co., the nominee of DTC, duly executed by the Issuer and authenticated by the Trustee
or the Authenticating Agent as hereinafter provided. The aggregate principal amount of the Rule 144A Global Note may from time
to time be increased or decreased by adjustments made on the “Schedule of Exchanges of Interests in the Global Note”
to each such Global Note, as hereinafter provided.

 

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Notes offered and
sold in reliance on Regulation S shall be issued initially in the form of a Regulation S Global Note, which shall be deposited
with the Common Depositary and registered in the name of Citivic Nominees Limited, as the nominee for the Common Depositary, duly
executed by the Issuer and authenticated by the Trustee or the Authenticating Agent as hereinafter provided. The aggregate principal
amount of the Regulation S Global Note may from time to time be increased or decreased by adjustments made on the “Schedule of
Exchanges of Interests in the Global Note” to each such Global Note, as hereinafter provided.

 

(d)          Definitive
Registered Notes. Definitive Registered Notes issued upon transfer of a Book-Entry Interest or a Definitive Registered Note,
or in exchange for a Book-Entry Interest or a Definitive Registered Note, shall be issued in accordance with this Indenture. Notes
issued in definitive registered form will be substantially in the form of Exhibit A hereto (excluding the Global Note Legend
thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto).

 

(e)          Book-Entry
Provisions. The Applicable Procedures shall be applicable to Book-Entry Interests in the Global Notes that are held by Participants
through DTC, Euroclear or Clearstream.

 

(f)          Denomination.
The Notes shall be in denominations of $200,000 and integral multiples of $1,000 above $200,000.

 

Section 2.02         Execution
and Authentication.

 

At least one Officer
must sign the Notes for the Issuer by manual or facsimile signature. If an Officer whose signature is on a Note no longer holds
that office at the time a Note is authenticated, the Note will nevertheless be valid.

 

A Note will not
be valid until authenticated by the manual signature of the authorized signatory of the Trustee or the Authenticating Agent. The
signature will be conclusive evidence that the Note has been authenticated under this Indenture. Notwithstanding the foregoing,
if any Note shall have been authenticated and delivered hereunder but never issued and sold by the Issuer, the Issuer shall deliver
such Note to the Trustee for cancellation pursuant to Section 2.11 hereof.

 

The Trustee will,
upon receipt of a written order of the Issuer signed by an authorized representative (an “Authentication Order”),
authenticate or cause the Authenticating Agent to authenticate the Notes for original issue that may be validly issued under this
Indenture, including any Additional Notes. The aggregate principal amount of Notes outstanding at any time may not exceed the aggregate
principal amount of Notes authorized for issuance by the Issuer pursuant to one or more Authentication Orders, except as provided
in Section 2.07 hereof.

 

The Trustee may
appoint one or more authentication agents (each, an “Authenticating Agent”) acceptable to the Issuer to authenticate
Notes. Such an agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication
by the Trustee includes authentication by such agent. An Authenticating Agent has the same rights as an Agent to deal with Holders
or an Affiliate of the Issuer. The Trustee hereby appoints Citibank, N.A., London Branch as Authenticating Agent with respect to
the Notes. Citibank, N.A., London Branch hereby accepts such appointment and the Issuer hereby confirms that such appointment is
acceptable to it.

 

Section 2.03         Paying
Agent, Registrars and Transfer Agents.

 

The Issuer will
maintain one or more paying agents (each, a “Paying Agent”) for the Notes. The Issuer will also maintain one
or more transfer agents (each, a “Transfer Agent”). The initial Paying Agent and initial Transfer Agent will
be Citibank, N.A., London Branch, who hereby accepts such appointment.

 

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The Issuer will
also maintain one or more registrars (each, a “Registrar”) for so long as the Notes are listed on the Luxembourg
Stock Exchange and admitted to trading on the Euro MTF Market. The Issuer hereby appoints Citigroup Global Markets Europe AG as
initial Registrar, who hereby accepts such appointment. The Registrar will maintain a register (the “Register”)
reflecting ownership of Definitive Registered Notes Outstanding from time to time and facilitate transfers of Definitive Registered
Notes on behalf of the Issuer and will send a copy of the Register to the Issuer on the Issue Date and after any change to the
Register made by the Registrar.

 

Upon written notice
to the Trustee, the Issuer may change the Paying Agents, the Registrars or the Transfer Agents without prior notice to the Holders.
For so long as the Notes are listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Euro MTF
Market and the rules of the Luxembourg Stock Exchange so require, the Issuer will, to the extent and in the manner permitted by
such rules, post a notice of any change of Paying Agent, Registrar or Transfer Agent on the official website of the Luxembourg
Stock Exchange (www.bourse.lu) in accordance with Section 14.01 hereof.

 

Section 2.04         Paying
Agent to Hold Money.

 

The Issuer will
require each Paying Agent other than the Trustee and the initial Paying Agent to agree in writing that each Paying Agent will hold
for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal of (and premium or Additional
Amounts, if any) or interest on the Notes, and will notify the Trustee in writing of any Default by the Issuer in making any such
payment. While any such Default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The
Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the
Paying Agent (if other than the Issuer or a Subsidiary of the Issuer) will have no further liability for the money. If the Issuer
or a Subsidiary of the Issuer acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the
Holders all money held by it as Paying Agent. Upon any insolvency, bankruptcy or reorganization proceedings relating to the Issuer
(including, without limitation, its bankruptcy, voluntary or judicial liquidation, composition with creditors, reprieve from payment,
controlled management, fraudulent conveyance, general settlement with creditors, reorganization or similar laws affecting the rights
of creditors generally), the Trustee will serve as Paying Agent for the Notes. The Issuer shall provide funds to the Paying Agent
no later than 10:00 a.m. (London time) on the Business Day prior to the day on which the Paying Agent is to make payment. A Paying
Agent shall not be obliged to pay the Holders of the Notes (or make any other payment) unless and until such time as it has confirmed
receipt of cleared funds sufficient to make the relevant payment.

 

Section 2.05         Holder
Lists.

 

The applicable Registrar
will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses
of all Holders. If the Trustee or the Paying Agent is not the Registrar, the Issuer will furnish or cause the Registrar to furnish,
to the Trustee and the Paying Agent at least seven Business Days before each interest payment date and at such other times as the
Trustee or the Paying Agent may request in writing, a list of the names and addresses of the Holders of Notes in such form and
as of such date as the Trustee or the Paying Agent may reasonably require.

 

Section 2.06         Transfer
and Exchange.

 

(a)          Transfer
and Exchange of Global Notes. A Rule 144A Global Note may not be transferred except as a whole by a Depositary to a Custodian
or a nominee of such Custodian, by a Custodian or a nominee of such Custodian to such Depositary or to another nominee or Custodian
of such Depositary, or by such Custodian or Depositary or any such nominee to a successor Depositary or Custodian or a nominee
thereof. A Regulation S Global Note may not be transferred except as a whole by a Depositary to a Common Depositary or a nominee
of such Common Depositary, by a Common Depositary or a nominee of such Depositary to such Depositary or to another nominee or Common
Depositary of such Depositary, or by such Common Depositary or Depositary or any such nominee to a successor Depositary or Common
Depositary or a nominee thereof.

 

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All Global Notes
will be exchanged by the Issuer for Definitive Registered Notes:

 

(1)         if
DTC or Euroclear or Clearstream, notifies the Issuer that it is unwilling or unable to continue to act as Depositary and a successor
Depositary is not appointed by the Issuer within 120 days;

 

(2)         in
whole, but not in part, if the Issuer so requests; or

 

(3)         if
the owner of a Book-Entry Interest requests such exchange in writing delivered through DTC or through Euroclear or Clearstream
following a Default by the Issuer under this Indenture.

 

Upon the occurrence
of any of the preceding events in clauses (1) through (3) above, the Issuer shall issue or cause to be issued Definitive Registered
Notes in such names as the relevant Depositary shall instruct the Trustee.

 

Global Notes also
may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10 hereof. A Global Note may not be
exchanged for another Note other than as provided in this Section 2.06(a). Book-Entry Interests in a Global Note may be transferred
and exchanged as provided in Section 2.06(b) or (c) hereof.

 

(b)          General
Provisions Applicable to Transfer and Exchange of Book-Entry Interests in the Global Notes.

 

The transfer and
exchange of Book-Entry Interests shall be effected through the relevant Depositary, in accordance with the provisions of this Indenture
and the Applicable Procedures. In connection with all transfers and exchanges of Book-Entry Interests (other than transfers of
Book-Entry Interests in connection with which the transferor takes delivery thereof in the form of a Book-Entry Interest in the
same Global Note), the relevant Transfer Agent (copied to the Trustee) must receive: (i) a written order from a Participant
or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to debit
from the transferor a Book-Entry Interest in an amount equal to the Book-Entry Interest to be transferred or exchanged; (ii) a
written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures
directing the Depositary to credit or cause to be credited a Book-Entry Interest in another Global Note in an amount equal to the
Book-Entry Interest to be transferred or exchanged; and (iii) instructions given in accordance with the Applicable Procedures
containing information regarding the Participant account to be credited or debited with such increase or decrease, if applicable.

 

In connection with
a transfer or exchange of a Book-Entry Interest for a Definitive Registered Note, the relevant Transfer Agent (copied to the Trustee
and the Registrar) must receive: (i) a written order from a Participant or an Indirect Participant given to the relevant Depositary
in accordance with the Applicable Procedures directing the relevant Depositary to debit from the transferor a Book-Entry Interest
in an amount equal to the Book-Entry Interest to be transferred or exchanged; (ii) a written order from a Participant directing
the Registrar to cause to be issued a Definitive Registered Note in an amount equal to the Book Entry Interest to be transferred
or exchanged; and (iii) instructions containing information regarding the Person in whose name such Definitive Registered Note
shall be registered to effect the transfer or exchange referred to above.

 

In connection with
any transfer or exchange of Definitive Registered Notes, the Holder of such Notes shall present or surrender to the Registrar the
Definitive Registered Notes duly endorsed or accompanied by a written instruction of transfer in a form satisfactory to the Registrar
duly executed by such Holder or by its attorney, duly authorized in writing. In addition, in connection with a transfer or exchange
of a Definitive Registered Note for a Book-Entry Interest, the relevant Transfer Agent (copied to the Trustee) must receive a written
order directing the Depositary to credit the account of the transferee in an amount equal to the Book-Entry Interest to be transferred
or exchanged.

 

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Upon satisfaction
of all of the requirements for transfer or exchange of Book-Entry Interests in Global Notes contained in this Indenture, the relevant
Transfer Agent (copied to the Trustee or the Registrar), as specified in this Section 2.06, shall endorse the relevant Global Note(s)
with any increase or decrease and instruct the Depositary to reflect such increase or decrease in its systems.

 

Transfers of Book-Entry
Interests shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the U.S.
Securities Act. Transfers and exchanges of Book-Entry Interests for Book-Entry Interests also shall require compliance with either
subparagraph (b)(1) or (b)(2) below, as applicable, as well as subparagraph (b)(3) below, if applicable:

 

(1)         Transfer
of Book-Entry Interests in the Same Global Note. Book-Entry Interests in a Global Note may be transferred to Persons who take
delivery thereof in the form of a Book-Entry Interest in a Global Note in accordance with the transfer restrictions set forth in
the Private Placement Legend; provided, however, that prior to the expiration of the Restricted Period, Book-Entry
Interests in the Regulation S Global Notes will be limited to persons that have accounts with DTC, Euroclear or Clearstream or
persons who hold interests through DTC, Euroclear or Clearstream, and any sale or transfer of such interest to U.S. persons shall
not be permitted during the Restricted Period unless such resale or transfer is made pursuant to Rule 144A. No written orders
or instructions shall be required to be delivered to the Trustee to effect the transfers described in this Section 2.06(b)(1).

 

(2)         All
Other Transfers and Exchanges of Book-Entry Interests in Global Notes. A holder may transfer or exchange a Book-Entry Interest
in Global Notes in a transaction not subject to Section 2.06(b)(1) above only if the Trustee and the applicable Registrar or the
relevant Transfer Agent (copied to the Trustee) receives either:

 

(A)         both:

 

(i)          a
written order from a Participant or an Indirect Participant given to the relevant Depositary in accordance with the Applicable
Procedures directing such Depositary to credit or cause to be credited a Book-Entry Interest in another Global Note in an amount
equal to the Book-Entry Interest to be transferred or exchanged; and (ii) instructions given by the relevant Depositary in accordance
with the Applicable Procedures containing information regarding the Participant’s account to be credited with such increase;
or

 

(B)         both:

 

(i)          a
written order from a Participant or an Indirect Participant given to the relevant Depositary in accordance with the Applicable
Procedures directing such Depositary to cause to be issued a Definitive Registered Note in an amount equal to the Book-Entry Interest
to be transferred or exchanged; and

 

(ii)         instructions
given by the relevant Depositary to the Registrar containing information specifying the identity of the Person in whose name such
Definitive Registered Note shall be registered to effect the transfer or exchange referred to in (1) above, the principal amount
of such securities and the CUSIP, ISIN, Common Code or other similar number identifying the Notes,

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provided that any such transfer
or exchange is made in accordance with the transfer restrictions set forth in the Private Placement Legend.

 

(3)         Transfer
of Book-Entry Interests to Another Global Note. A Book-Entry Interest in any Global Note may be transferred to a Person who
takes delivery thereof in the form of a Book-Entry Interest in another Global Note if the transfer complies with the requirements
of Section 2.06(b)(2) above and the Transfer Agent and the Registrar receives the following:

 

(A)         if
the transferee will take delivery in the form of a Book-Entry Interest in a Rule 144A Global Note, then the transferor must deliver
a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; and

 

(B)         if
the transferee will take delivery in the form of a Book-Entry Interest in a Regulation S Global Note, then the transferor must
deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof.

 

(c)          Transfer
or Exchange of Book-Entry Interests in Global Notes for Definitive Registered Notes. If any holder of a Book-Entry Interest
in a Global Note proposes to exchange such Book-Entry Interest for a Definitive Registered Note or to transfer such Book-Entry
Interest to a Person who takes delivery thereof in the form of a Definitive Registered Note, then, upon receipt by the Trustee,
the Transfer Agent and the Registrar of the following documentation:

 

(1)         in
the case of a transfer on or before the expiration of the Restricted Period by a holder of a Book-Entry Interest in a Regulation
S Global Note, the Trustee and the Transfer Agent shall have received a certificate to the effect set forth in Exhibit B
hereto, including the certifications in either item (1) or item (2) thereof;

 

(2)         in
the case of an exchange by a holder of a Book-Entry Interest in a Global Note of such Book-Entry Interest for a Definitive Registered
Note, the Trustee and the Transfer Agent shall have received a certificate from such holder in the form of Exhibit C hereto,
including the certifications in items (1) thereof;

 

(3)         in
the case of a transfer after the expiration of the Restricted Period by a holder of a Book-Entry Interest in a Regulation S Global
Note, the transfer complies with Section 2.06(b);

 

(4)         in
the case of a transfer by a holder of a Book-Entry Interest in a Rule 144A Global Note to a QIB in reliance on Rule 144A, the Trustee
and the Transfer Agent shall have received a certificate to the effect set forth in Exhibit B hereto, including the certifications
in item (1) thereof;

 

(5)         in
the case of a transfer by a holder of a Book-Entry Interest in a Rule 144A Global Note in reliance on Regulation S, the Trustee
and the Transfer Agent shall have received a certificate to the effect set forth in Exhibit B hereto, including the certifications
in item (2) thereof; or

 

(6)         in
the case of a transfer by a holder of a Book-Entry Interest in a Rule 144A Global Note in reliance on Rule 144, the Trustee and
the Transfer Agent shall have received a certificate to the effect set forth in Exhibit B hereto, including the certifications
in item (3) thereof,

 

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the Trustee shall cause the aggregate
principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(g) hereof, and the Issuer shall
execute and the Trustee or the Authenticating Agent shall authenticate and deliver to the Person designated in the instructions
a Definitive Registered Note in the appropriate principal amount. Any Definitive Registered Note issued in exchange for a Book-Entry
Interest in a Global Note pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination
or denominations as the holder of such Book-Entry Interest shall instruct the applicable Registrar through instructions from the
Depositary and the Participant or Indirect Participant. The Registrar shall deliver such Definitive Registered Notes to the Persons
in whose names such Notes are so registered. Any Definitive Registered Note issued in exchange for a Book-Entry Interest in a Global
Note pursuant to this Section 2.06(c)) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer
contained therein.

 

(d)          Transfer
and Exchange of Definitive Registered Notes for Book-Entry Interests in the Global Notes. If any Holder of a Definitive Registered
Note proposes to exchange such Note for a Book-Entry Interest in a Global Note or to transfer such Definitive Registered Notes
to a Person who takes delivery thereof in the form of a Book-Entry Interest in a Global Note, then, upon receipt by the Trustee,
the relevant Transfer Agent and the Registrar of the following documentation:

 

(1)         if
the Holder of such Definitive Registered Note proposes to exchange such Note for a Book-Entry Interest in a Global Note, a certificate
from such Holder in the form of Exhibit C hereto, including the certifications in item (2) thereof;

 

(2)         if
such Definitive Registered Note is being transferred to a QIB in accordance with Rule 144A, a certificate to the effect set forth
in Exhibit B hereto, including the certifications in item (1) thereof;

 

(3)         if
such Definitive Registered Note is being transferred in reliance on Regulation S or Rule 144, a certificate to the effect set forth
in Exhibit B hereto, including the certifications in item (2) or (3) thereof, as applicable;

 

(4)         if
such Definitive Registered Note is being transferred to the Issuer or any of its Subsidiaries, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item (3) thereof;

 

and the Trustee will cancel the Definitive
Registered Note, and the Trustee will increase or cause to be increased the aggregate principal amount of, in the case of clause
(1) above, the appropriate Global Note, in the case of clause (2) above, the appropriate Rule 144A Global Note, in the case of
clause (3) above, the appropriate Global Note, and in the case of clause (4) above, the appropriate Global Note.

 

(e)          Transfer
and Exchange of Definitive Registered Notes for Definitive Registered Notes.

 

Definitive Registered
Notes may be transferred or exchanged in whole or in part, in minimum denominations of $200,000 in principal amount and integral
multiples of $1,000 in excess thereof, to persons who take delivery thereof in the form of Definitive Registered Notes in accordance
with this Section 2.06(e). Upon request by a Holder of Definitive Registered Notes and such Holder’s compliance with the
provisions of this Section 2.06(e), the Transfer Agent or the Registrar will register the transfer or exchange of Definitive Registered
Notes of which registration the Issuer will be informed by the Transfer Agent or the Registrar (as the case may be) upon request.
Prior to such registration of transfer or exchange, the requesting Holder must present or surrender to the Transfer Agent or the
Registrar the Definitive Registered Notes duly endorsed and accompanied by a written instruction of transfer in a form satisfactory
to the Transfer Agent or the Registrar duly executed by such Holder or its attorney, duly authorized to execute the same in writing.
In the event that the Holder of such Definitive Registered Notes does not transfer the entire principal amount of Notes represented
by any such Definitive Registered Note, the Transfer Agent or the Registrar will cancel or cause to be cancelled such Definitive
Registered Note and the Issuer (who has been informed of such cancellation) shall execute and the Trustee or the Authenticating
Agent shall authenticate and deliver to the requesting Holder and any transferee Definitive Registered Notes in the appropriate
principal amounts. In addition, the requesting Holder shall provide any additional certifications, documents and information, as
applicable, required pursuant to the following provisions of this Section 2.06(e).

 

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Any Definitive Registered
Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Definitive Registered
Note if the Registrar receives the following:

 

(1)         if
the transfer will be made pursuant to Rule 144A, then the transferor must deliver a certificate in the form of Exhibit B
hereto, including the certifications in item (1) thereof; and

 

(2)         if
the transfer will be made in reliance on Regulation S,, then the transferor must deliver a certificate in the form of Exhibit
B hereto, including the certifications in item (2) thereof.

 

(f)          Legends.
The following legends will appear on the face of all Notes issued under this Indenture unless specifically stated otherwise in
the applicable provisions of this Indenture.

 

(1)         Private
Placement Legend. Each Global Note and each Definitive Registered Note (and all Notes issued in exchange therefor or in substitution
thereof) shall bear the legend in substantially the following form:

 

“THIS NOTE HAS NOT BEEN
AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR THE SECURITIES
LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT.

 

THE HOLDER OF THIS NOTE BY ITS
ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE
U.S. SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN “OFFSHORE TRANSACTION” PURSUANT
TO RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (2) AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH NOTE, PRIOR TO THE
DATE (THE “RESALE RESTRICTION TERMINATION DATE”) WHICH IS [IN THE CASE OF RULE 144A NOTES: ONE YEAR AFTER THE LATER
OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS NOTE
(OR ANY PREDECESSOR OF THIS NOTE)] [IN THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF
AND THE DATE ON WHICH THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED
IN RULE 902 OF REGULATION S) IN RELIANCE ON REGULATION S] ONLY (A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION
STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE U.S. SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE
PURSUANT TO RULE 144A UNDER THE U.S. SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A QUALIFIED
INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS
GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED
STATES IN COMPLIANCE WITH REGULATION S UNDER THE U.S. SECURITIES ACT OR (E) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO ANY REQUIREMENT OF LAW THAT THE
DISPOSITION OF ITS PROPERTY OR THE PROPERTY OF SUCH INVESTOR ACCOUNT OR ACCOUNTS BE AT ALL TIMES WITHIN ITS OR THEIR CONTROL AND
TO COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS, AND ANY APPLICABLE LOCAL LAWS AND REGULATIONS AND FURTHER SUBJECT TO THE
ISSUER’S AND THE TRUSTEE’S RIGHTS PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (I) PURSUANT TO CLAUSE (E) TO REQUIRE THE
DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, (II) IN EACH OF THE FOREGOING
CASES, TO REQUIRE THAT A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS NOTE IS COMPLETED AND DELIVERED
BY THE TRANSFEROR TO THE TRUSTEE AND (III) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS NOTE IS TRANSFERRED A NOTICE SUBSTANTIALLY
TO THE EFFECT OF THIS LEGEND. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION
DATE.

 

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	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0907
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

BY ACCEPTING THIS NOTE (OR AN
INTEREST IN THE NOTES REPRESENTED HEREBY) EACH ACQUIRER AND EACH TRANSFEREE IS DEEMED TO REPRESENT, WARRANT AND AGREE THAT AT THE
TIME OF ITS ACQUISITION AND THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE OR ANY INTEREST HEREIN (1) EITHER (A) IT IS NOT, AND
IT IS NOT ACTING ON BEHALF OF (AND FOR SO LONG AS IT HOLDS SUCH NOTES OR ANY INTEREST THEREIN IT WILL NOT BE, AND WILL NOT BE ACTING
ON BEHALF OF), AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE UNITED STATES EMPLOYEE RETIREMENT INCOME SECURITY ACT
OF 1974, AS AMENDED (“ERISA”)), SUBJECT TO THE PROVISIONS OF PART 4 OF SUBTITLE B OF TITLE I OF ERISA, A PLAN TO WHICH
SECTION 4975 OF THE UNITED STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED, (“CODE”), APPLIES, OR ANY ENTITY WHOSE
UNDERLYING ASSETS INCLUDE “PLAN ASSETS” (WITHIN THE MEANING OF 29 C.F.R. SECTION 2510.3-101, AS MODIFIED BY SECTION
3(42) OF ERISA, OR OTHERWISE) BY REASON OF SUCH AN EMPLOYEE BENEFIT PLAN’S AND/OR PLAN’S INVESTMENT IN SUCH ENTITY
(EACH, A “BENEFIT PLAN INVESTOR”), OR A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN WHICH IS SUBJECT TO ANY FEDERAL, STATE,
LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR THE PROHIBITED TRANSACTION
PROVISIONS OF ERISA AND/OR SECTION 4975 OF THE CODE (“SIMILAR LAWS”), AND NO PART OF THE ASSETS USED BY IT TO ACQUIRE
OR HOLD THIS NOTE OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF ANY BENEFIT PLAN INVESTOR OR SUCH A GOVERNMENTAL, CHURCH OR
NON-U.S. PLAN, OR (B) IF IT IS A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN SUBJECT TO SIMILAR LAW, ITS ACQUISITION, HOLDING AND DISPOSITION
OF THIS NOTE OR AN INTEREST HEREIN DOES NOT AND WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION OF ANY SIMILAR
LAWS; AND NEITHER ISSUER NOR ANY OF ITS AFFILIATES IS A “FIDUCIARY” (WITHIN THE MEANING OF ANY DEFINITION OF “FIDUCIARY”
UNDER SIMILAR LAWS) WITH RESPECT TO THE PURCHASER OR HOLDER IN CONNECTION WITH ANY PURCHASE OR HOLDING OF THE NOTES, OR AS A RESULT
OF ANY EXERCISE BY THE ISSUER OR ANY OF ITS AFFILIATES OF ANY RIGHTS IN CONNECTION WITH THE NOTES, AND NO ADVICE PROVIDED BY THE
ISSUER OR ANY OF ITS AFFILIATES HAS FORMED A PRIMARY BASIS FOR ANY INVESTMENT DECISION BY OR ON BEHALF OF THE PURCHASER OR HOLDER
IN CONNECTION WITH THE NOTES AND THE TRANSACTIONS CONTEMPLATED WITH RESPECT TO THE NOTES; AND (2) IT WILL NOT SELL OR OTHERWISE
TRANSFER THIS NOTE OR ANY INTEREST HEREIN OTHERWISE THAN TO A PURCHASER OR TRANSFEREE THAT IS DEEMED TO MAKE THESE SAME REPRESENTATIONS,
WARRANTIES AND AGREEMENTS WITH RESPECT TO ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE.”

 

(2)         Global
Note Legend. Each Global Note will bear a legend in substantially the following form:

 

“THIS GLOBAL NOTE IS HELD
BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS
HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE TRANSFERRED OR EXCHANGED IN WHOLE
BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, AND (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION
PURSUANT TO SECTION 2.11 OF THE INDENTURE.”

 

(g)          Cancellation
and/or Adjustment of Global Notes. At such time as all Book-Entry Interests in a particular Global Note have been exchanged
for Definitive Registered Notes or a particular Global Note has been redeemed, repurchased or cancelled in whole and not in part,
each such Global Note will be returned to or retained and cancelled by the Trustee in accordance with Section 2.11 hereof. At any
time prior to such cancellation, if any Book-Entry Interest in a Global Note is exchanged for or transferred to a Person who will
take delivery thereof in the form of a Book-Entry Interest in another Global Note or for Definitive Registered Notes, the principal
amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note
by the Trustee or the Common Depositary or the Custodian, at the direction of the Trustee, to reflect such reduction; and if the
Book-Entry Interests is being exchanged for or transferred to a Person who will take delivery thereof in the form of a Book-Entry
Interests in another Global Note, such other Global Note will be increased accordingly and an endorsement will be made on such
Global Note by the Trustee or by the Common Depositary or the Custodian at the direction of the Trustee to reflect such increase.

 

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(h)          General
Provisions Relating to Transfers and Exchanges.

 

(1)         To
permit registrations of transfers and exchanges, the Issuer will execute and the Trustee or the Authenticating Agent will authenticate
Global Notes and Definitive Registered Notes upon receipt of an Authentication Order in accordance with Section 2.02 hereof or
at the Registrar’s request.

 

(2)         No
service charge will be made by the Issuer or the Registrar to a Holder of a Book-Entry Interest in a Global Note, a Holder of a
Global Note or a Holder of a Definitive Registered Note for any registration of transfer or exchange, but the Issuer may require
payment of a sum sufficient to cover any stamp duty, stamp duty reserve, documentary or other similar tax or governmental charge
that may be imposed in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange
or transfer pursuant to Sections 2.10, 3.06, 4.10 and 4.15 hereof).

 

(3)         No
Transfer Agent or Registrar will be required to register the transfer of or exchange any Note selected for redemption in whole
or in part, except the unredeemed portion of any Note being redeemed in part.

 

(4)         All
Global Notes and Definitive Registered Notes issued upon any registration of transfer or exchange of Global Notes or Definitive
Registered Notes will be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under
this Indenture, as the Global Notes or Definitive Registered Notes surrendered upon such registration of transfer or exchange.

 

(5)         [Reserved].

 

(6)         The
Trustee, any Agent and the Issuer may deem and treat the Person in whose name any Note is registered as the absolute owner of such
Note for the purpose of receiving payment of principal of (and premium or Additional Amounts, if any) or interest on such Notes
and for all other purposes, and none of the Trustee, any Agent or the Issuer shall be affected by notice to the contrary.

 

(7)         All
certifications, certificates and Opinions of Counsel required to be submitted to the Issuer, the Trustee, the Transfer Agent or
the applicable Registrar pursuant to this Section 2.06 to effect a registration of transfer or exchange may be submitted initially
by facsimile with originals to be delivered promptly thereafter to the Trustee.

 

Section 2.07         Replacement
Notes.

 

(a)          If
any mutilated Note is surrendered to the Registrar, the Trustee or the Issuer and the Trustee receives evidence to its satisfaction
of the destruction, loss or theft of any Note, the Issuer will issue and the Trustee, upon receipt of an Authentication Order,
will authenticate or cause the Authenticating Agent to authenticate a replacement Note if the Trustee’s requirements are
met. If required by the Trustee or the Issuer, an indemnity bond must be supplied by the Holder that is sufficient in the judgment
of the Trustee and the Issuer to protect the Issuer, the Trustee, any Agent from any loss that any of them may suffer if a Note
is replaced. The Issuer and the Trustee may charge the Holder for its expenses in replacing a Note, including but not limited to
reasonable fees and expenses of counsel.

 

(b)          Every
replacement Note is an additional obligation of the Issuer and will be entitled to all of the benefits of this Indenture equally
and proportionately with all other Notes duly issued hereunder.

 

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	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

Section 2.08         Outstanding
Notes.

 

The Notes outstanding
at any time are all the Notes authenticated by the Trustee or the Authenticating Agent except for those canceled by it, those delivered
to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions
hereof, and those described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof, a Note does not
cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Note; however, Notes held by the Issuer or any
of its Subsidiaries shall not be deemed to be outstanding for the purposes of Section 3.07(b) hereof.

 

If a Note is replaced
pursuant to Section 2.07 hereof, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced
Note is held by a protected purchaser. If the principal amount of any Note is considered paid under Section 4.01 hereof, it ceases
to be outstanding and interest on it ceases to accrue. If a Paying Agent (other than the Issuer, a Subsidiary of the Issuer or
an Affiliate of any thereof) holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date,
then on and after that date such Notes will be deemed to be no longer outstanding and will cease to accrue interest.

 

Section 2.09         Treasury
Notes.

 

In determining whether
the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer
or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer,
will be considered as though not Outstanding, except that for the purposes of determining whether the Trustee will be protected
in relying on any such direction, waiver or consent, only Notes that the Trustee knows are so owned will be so disregarded.

 

Section 2.10         Temporary
Notes.

 

Until certificates
representing Notes are ready for delivery, the Issuer may prepare and the Trustee, upon receipt of an Authentication Order, will
authenticate or cause the Authenticating Agent to authenticate temporary Notes. Temporary Notes will be substantially in the form
of certificated Notes but may have variations that the Issuer considers appropriate for temporary Notes and as may be reasonably
acceptable to the Trustee. Without unreasonable delay, the Issuer will prepare and the Trustee or the Authenticating Agent will
authenticate definitive Notes in exchange for temporary Notes.

 

Holders of temporary
Notes will be entitled to all of the benefits of this Indenture.

 

Section 2.11         Cancellation.

 

The Issuer at any
time may deliver Notes to the Trustee for cancellation. The Registrar, each Paying Agent and any Transfer Agent will forward to
the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee, in accordance with its
customary procedures, or at the direction of the Trustee, the Registrar or the Paying Agent and no one else will cancel (subject
to the Trustee’s retention policy) all Notes surrendered for registration of transfer, exchange, payment, replacement or
cancellation and will destroy canceled Notes (subject to the record retention requirement of the U.S. Exchange Act). Certification
of the destruction of all canceled Notes will be delivered to the Issuer following a written request from the Issuer. The Issuer
may not issue new Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation. The Issuer
undertakes to promptly inform the Luxembourg Stock Exchange (as long as the Notes are admitted to trading on the Euro MTF Market
and listed on the Official List of the Luxembourg Stock Exchange) of any such cancellation.

 

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Section 2.12         Defaulted
Interest.

 

If the Issuer defaults
in a payment of interest on the Notes, it will pay the defaulted interest in any lawful manner plus, to the extent lawful, interest
payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate
provided in the Notes and in Section 4.01 hereof. The Issuer will notify the Trustee as soon as practicable in writing of the amount
of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Issuer will fix or cause to be
fixed each such special record date and payment date; provided that no such special record date may be less than ten (10)
days prior to the related payment date for such defaulted interest. At least fifteen (15) days before the special record date,
the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) will mail or
cause to be mailed to the Holders in accordance with Section 14.01 hereof a notice that states the special record date, the related
payment date and the amount of such interest to be paid. The Issuer undertakes to promptly inform the Luxembourg Stock Exchange
(as long as the Notes are admitted to trading on the Euro MTF Market and listed on the Official List of the Luxembourg Stock Exchange)
of any such special record date.

 

Section 2.13         Further
Issues.

 

(a)          Subject
to compliance with Section 4.09 hereof, the Issuer may from time to time issue Additional Notes, which shall have identical terms
and conditions as the Initial Notes (save for payment of interest accruing prior to the issue date of such Additional Notes or
for the first payment of interest following the issue date of such Additional Notes). The Initial Notes and any Additional Notes
will be treated as a single class for all purposes under this Indenture, including, without limitation, with respect to waivers,
amendments, redemptions, and offers to purchase except as otherwise specified with respect to each series of Notes, provided, however,
that any such Additional Notes that are not fungible with the Initial Notes for U.S. federal income tax purposes will be issued
under a different CUSIP, ISIN or other identifying number.

 

(b)          Whenever
it is proposed to create and issue any Additional Notes, the Issuer shall give to the Trustee not less than three Business Days’
notice in writing of its intention to do so, stating the amount of Additional Notes proposed to be created and issued.

 

Section 2.14         CUSIP,
ISIN or Common Code Number.

 

The Issuer in issuing
the Notes may use a “CUSIP”, “ISIN” or “Common Code” number and, if so, such CUSIP, ISIN or
Common Code number shall be included in notices of redemption or exchange as a convenience to Holders; provided, however,
that any such notice may state that no representation is made as to the correctness or accuracy of the CUSIP, ISIN or Common Code
number printed in the notice or on the Notes, and that reliance may be placed only on the other identification numbers printed
on the Notes, and any such redemption or exchange shall not be affected by any defect in or omission of such numbers.

 

The Issuer will
promptly notify the Trustee in writing of any change in the CUSIP, ISIN or Common Code number.

 

Section 2.15         Deposit
of Moneys.

 

No later than 10:00 a.m.
(London time), on the Business Day prior to each Interest Payment Date, the maturity date of the Notes and each payment date relating
to an Excess Proceeds Offer or a Change of Control Offer, and on the Business Day immediately following any acceleration of the
Notes pursuant to Section 6.02 hereof, the Issuer shall deposit with the Paying Agent, in immediately available same-day freely
transferrable funds, money in U.S. Dollars sufficient to make cash payments, if any, due on such day or date, as the case may be.
Subject to actual receipt of such funds as provided by this Section 2.15 by the designated Paying Agent, such Paying Agent shall
remit such payment in a timely manner to the Holders on such day or date, as the case may be, to the Persons and in the manner
set forth in paragraph 2 of the Notes. The Issuer shall promptly notify the Trustee and the Paying Agent of its failure to so act.

 

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Section 2.16         Agents.

 

(a)          The
rights, powers, duties and obligations and actions of each Agent under this Indenture are several and not joint or joint and several.

 

(b)          The
Issuer and the Agents acknowledge and agree that in the event of a Default or Event of Default, the Trustee may, by notice in writing
to the Issuer and the Agents, require that the Agents act as agents of, and take instructions exclusively from, the Trustee.

 

(c)          The
Issuer shall provide the Agents with a certified list of authorized signatories.

 

(d)          The
Agents shall hold all funds as banker subject to the terms of this Indenture and as a result, such money shall not be held in accordance
with the rules established by the Financial Conduct Authority in the Financial Conduct Authority’s Handbook of rules and
guidance from time to time in relation to client money. Each Agent shall not be liable to account for any interest on money paid
to it. Money held by the Agent need not be segregated except as required by law.

 

Article
3

Redemption
and Prepayment

 

Section 3.01         Notices
to Trustee.

 

If the Issuer elects
to redeem Notes pursuant to the optional redemption provisions of Section 3.07 and 3.08 hereof, it shall deliver to the Trustee
in accordance with Section 14.01 hereof, at least 10 days but not more than 60 days before a redemption date, an Officer’s
Certificate setting forth:

 

(a)          the
clause of this Indenture pursuant to which the redemption shall occur;

 

(b)          the
redemption date and the record date;

 

(c)          the
principal amount of Notes to be redeemed;

 

(d)          the
redemption price; and

 

(e)          the
CUSIP, ISIN or Common Code numbers of the Notes, as applicable.

 

Section 3.02         Selection
of Notes to Be Redeemed or Purchased.

 

If less than all
of the Notes are to be redeemed or purchased in an offer to purchase at any time, the Paying Agent or Registrar will select the
Notes for redemption or purchase on a pro rata basis (or, in the case of any Global Notes, based on a method in accordance
with the procedures of Euroclear, Clearstream and/or the DTC, as applicable, in denominations of $1,000 in principal amount and
integral multiples thereof) unless otherwise required by law or applicable stock exchange or depository requirements. The Trustee,
the Paying Agent and the Registrar will not be liable for selections made by the Paying Agent or the Registrar in accordance with
this Section 3.02.

 

Notices of purchase
or redemption will be given to each Holder pursuant to Sections 3.03 and 14.01 hereof.

 

If any Note is to
be redeemed in part only, the notice of redemption that relates to that Note will state the portion of the principal amount of
that Note that is to be redeemed. A new Note in principal amount equal to the unredeemed portion of the original Note will be issued
in the name of the Holder upon cancellation of the original Note. Notes called for redemption become due on the date fixed for
redemption. On and after the redemption date, interest ceases to accrue on Notes or portions of Notes called for redemption.

 

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In relation to Definitive
Registered Notes, a new Note in principal amount equal to the unpurchased or unredeemed portion of any Note purchased or redeemed
in part will be issued in the name of the Holder thereof upon cancellation of the original Note. On or after any purchase or redemption
date, unless the Issuer defaults in payment of the purchase or redemption price, interest shall cease to accrue on Notes or portions
thereof tendered for purchase or called for redemption.

 

Section 3.03         Notice
of Redemption.

 

(a)          At
least 10 days but not more than 60 days before a redemption date, the Issuer will mail by first class mail (or deliver by means
of publication through Euroclear, Clearstream and/or DTC) a notice of redemption to each Holder whose Notes are to be redeemed
at its address as it appears on the register of the relevant Registrar, except that redemption notices may be mailed, or delivered,
more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or the satisfaction
and discharge of this Indenture pursuant to Articles 8 or 13 hereof. So long as any Notes are admitted to trading on the Euro MTF
Market and listed on the Official List of the Luxembourg Stock Exchange and the rules of the Luxembourg Stock Exchange so require,
any such notice to the Holders of the relevant Notes shall , to the extent and in the manner permitted by such rules, be posted
on the official website of the Luxembourg Stock Exchange (www.bourse.lu) and, in connection with any redemption, the Issuer
will forthwith notify the Luxembourg Stock Exchange of any change in the principal amount of Notes Outstanding.

 

(b)          The
notice will identify the Notes to be redeemed and corresponding CUSIP, ISIN or Common Code numbers, as applicable, and will state:

 

(1)         the
redemption date and the record date;

 

(2)         the
redemption price and the amount of accrued interest, if any, and Additional Amounts, if any, to be paid;

 

(3)         if
any Global Note is being redeemed in part, the portion of the principal amount of such Global Note to be redeemed and that, after
the redemption date upon surrender of such Global Note, the principal amount thereof will be decreased by the portion thereof redeemed
pursuant thereto;

 

(4)         if
any Definitive Registered Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed, and
that, after the redemption date, upon surrender of such Note, a new Definitive Registered Note or Definitive Registered Notes in
principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of
the original Definitive Registered Note;

 

(5)         the
name and address of the Paying Agent(s) to which the Notes are to be surrendered for redemption;

 

(6)         that
Notes called for redemption must be surrendered to the relevant Paying Agent to collect the redemption price, plus accrued and
unpaid interest, if any, and Additional Amounts, if any;

 

(7)         that,
unless the Issuer defaults in making such redemption payment, interest, and Additional Amounts, if any, on Notes called for redemption
cease to accrue on and after the redemption date;

 

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(8)         the
paragraph of the Notes and/or Section of this Indenture pursuant to which the Notes called for redemption are being redeemed; and

 

(9)         that
no representation is made as to the correctness or accuracy of the CUSIP, ISIN or Common Code numbers, if any, listed in such notice
or printed on the Notes.

 

(c)          At
the Issuer’s request, the Trustee (or the Paying Agent) will give the notice of redemption in the Issuer’s name and
at its expense in accordance with Section 14.01 hereof; provided, however, that the Issuer will have delivered to the Trustee,
at least ten days prior to the date the notice is required to be delivered pursuant to clause (a) above, an Officer’s Certificate
requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding
paragraph.

 

Section 3.04         Effect
of Notice of Redemption.

 

A notice of redemption
may, at the Issuer’s discretion, be subject to satisfaction of one or more conditions precedent. On and after a redemption
date, unless the Issuer defaults in payment of the purchase or redemption price, interest shall cease to accrue on such Notes or
portion of them called for redemption.

 

Section 3.05         Deposit
of Redemption or Purchase Price.

 

(a)          No
later than 10:00 a.m. (London time) on the Business Day prior to the redemption or purchase date, the Issuer will deposit
with the Trustee or with the Paying Agent money in U.S. Dollars sufficient to pay the redemption or purchase price of, and accrued
interest and Additional Amounts (if any) on, all Notes to be redeemed on that date. The Trustee or the Paying Agent will promptly
return to the Issuer any money deposited with the Trustee or the Paying Agent, as applicable, by the Issuer in excess of the amounts
necessary to pay the redemption or purchase price of, and accrued interest and Additional Amounts, if any, on, all Notes to be
purchased or redeemed.

 

(b)          If
the Issuer complies with the provisions of Section 3.05(a) hereof, on and after the redemption or purchase date, interest will
cease to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on
or after a record date for the payment of interest but on or prior to the related interest payment date, then any accrued and unpaid
interest shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any
Note called for redemption or purchase is not so paid upon surrender for redemption or purchase because of the failure of the Issuer
to comply with the Section 3.05(a) hereof, interest shall be paid on the unpaid principal, from the redemption or purchase date
until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate
provided in the Notes and in Section 4.01 hereof.

 

Section 3.06         Notes
Redeemed or Purchased in Part.

 

Upon surrender of
a Definitive Registered Note that is redeemed or purchased in part, the Issuer will issue and, upon receipt of an Authentication
Order, the Trustee or the Authenticating Agent will authenticate for (and in the name of) the Holder at the expense of the Issuer
a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered; provided that any
Definitive Registered Note shall be in a principal amount of $200,000 or an integral multiple of $1,000 above $200,000.

 

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Section 3.07         Optional
Redemption.

 

Except pursuant
to this Section 3.07 and Section 3.08 hereof, the Notes are not redeemable at the Issuer’s option. The Issuer is not, however,
prohibited from acquiring the Notes by means other than a redemption, whether pursuant to a tender offer, open market purchase
or otherwise, so long as the acquisition does not otherwise violate the terms of this Indenture. The Issuer may make any redemption
or redemption notice subject to the satisfaction of conditions precedent. If such redemption or notice is subject to satisfaction
of one or more conditions precedent, such notice shall state that, in the Issuer’s discretion, the redemption date may be
delayed until such time (but no more than 60 days after the date of the notice of redemption) as any or all such conditions shall
be satisfied, or such redemption may not occur and such notice may be rescinded in the event that any or all such conditions shall
not have been satisfied or waived by the redemption date, or by the redemption date as so delayed, or such notice may be rescinded
at any time in the Issuer’s discretion if in the good faith judgement of the Issuer any or all of such conditions will not
be satisfied or waived. In addition, the Issuer may provide in such notice that payment of the redemption price and performance
of the Issuer’s obligations with respect to such redemption may be performed by another Person.

 

If a redemption
date is not a Business Day, payment may be made on the next succeeding day that is a Business Day, and no interest shall accrue
on any amount that would have been otherwise payable on such redemption date if it were a Business Day for the intervening period.
If the optional redemption date is on or after an interest record date and on or before the related interest payment date, the
accrued and unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business on
such record date and no additional interest will be payable to Holders whose Notes will be subject to redemption.

 

(a)          At
any time prior to October 15, 2021, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders,
the Issuer may on any one or more occasions redeem up to 40% of the original aggregate principal amount of Notes (including Additional
Notes) at a redemption price of 106.625% of their principal amount, plus accrued and unpaid interest, if any, to the redemption
date (subject to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest
payment date), with the proceeds from one or more Equity Offerings or any sale of Qualified Capital Stock of any Restricted Subsidiary
of the Issuer. The Issuer may only do this, however, if:

 

(1)         at
least 50% of the aggregate principal amount of Notes that were initially issued under this Indenture would remain outstanding immediately
after the proposed redemption; and

 

(2)         the
redemption occurs within 180 days after the closing of such Equity Offering or sale of Qualified Capital Stock.

 

Any notice for such
a redemption may be given prior to completing the Equity Offering or sale of Qualified Capital Stock and be conditioned upon its
completion.

 

(b)          At
any time prior to October 15, 2021, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the
Issuer may on any one or more occasions redeem up to 40% of the original aggregate principal amount of Notes (including Additional
Notes) at a redemption price of 106.625% of their principal amount, plus accrued and unpaid interest, if any, to the redemption
date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment
date), with the Net Available Proceeds from one or more Specified Subsidiary Sales. The Issuer may only do this, however, if:

 

(1)         at
least 50% of the aggregate principal amount of Notes that were initially issued would remain outstanding immediately after the
proposed redemption; and

 

(2)         the
redemption occurs within 365 days from the later of the date of such Specified Subsidiary Sale or the receipt of such Net Available
Proceeds.

 

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(c)          During
each 12 month period commencing on the Issue Date and ending on October 15, 2021, upon not less than 10 nor more than 60 days’
prior notice to the Trustee and the Holders, the Issuer may redeem up to 10% of the original aggregate principal amount of the
Notes (including Additional Notes) at a redemption price equal to 103% of the principal amount of the Notes redeemed, plus accrued
and unpaid interest and Additional Amounts, if any, to the applicable redemption date (subject to the right of Holders of record
on the relevant record date to receive interest due on the relevant interest payment date).

 

(d)          At
any time prior to October 15, 2021, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the
Issuer may also redeem all or part of the Notes (including Additional Notes) at a redemption price equal to 100% of the principal
amount thereof plus the Applicable Redemption Premium and accrued and unpaid interest and Additional Amounts, if any, to the date
of redemption, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest
payment date.

 

(e)          At
any time on or after October 15, 2021 and prior to maturity, upon not less than 10 nor more than 60 days’ notice to the Trustee
and the Holders, the Issuer may redeem all or part of the Notes. These redemptions will be in amounts of $200,000 or integral multiples
of $1,000 in excess thereof at the following redemption prices (expressed as percentages of their principal amount at maturity),
plus accrued and unpaid interest and Additional Amounts, if any, to the redemption date, if redeemed during the 12- month period
commencing on October 15 of the years set forth below:

 

	Year	 	Redemption 
 Price
	 
	2021	 	 	104.969	%
	2022	 	 	103.313	%
	2023	 	 	101.656	%
	2024 and thereafter	 	 	100.00	%

 

Section 3.08         Redemption
upon changes in withholding taxes.

 

The Issuer may redeem
the Notes, in whole but not in part, at its option, at 100% of the outstanding principal amount thereof plus accrued and unpaid
interest to the date of redemption and any Additional Amounts (as defined under Section 4.22(a) hereof) payable with respect thereto,
if:

 

(a)          as
a result of (i) any change in, or amendment to, the laws or treaties (or any regulations or rulings promulgated thereunder) of
any Relevant Taxing Jurisdiction (as defined under Section 4.22(a) hereof) affecting taxation which is publicly announced and becomes
effective on or after the Issue Date or, if such Relevant Taxing Jurisdiction has become a Relevant Taxing Jurisdiction after the
Issue Date, on or after the date on which such Relevant Taxing Jurisdiction became a Relevant Taxing Jurisdiction under this Indenture
or (ii) any change in, or amendment to, the existing official published position (including any such change or amendment occurring
as a result of the introduction of an official position) regarding the application, administration or interpretation of the laws
or treaties (or any regulations or rulings promulgated thereunder) of any Relevant Taxing Jurisdiction (including any such change
or amendment occurring as a result of a holding, judgment or order by a court of competent jurisdiction or a change in published
practice), which change or amendment is publicly announced and, where applicable, becomes effective on or after the Issue Date
or, if such Relevant Taxing Jurisdiction has become a Relevant Taxing Jurisdiction after the Issue Date, on or after the date on
which such Relevant Taxing Jurisdiction became a Relevant Taxing Jurisdiction under this Indenture (either, a “Change
in Tax Law”), the Issuer has or will become obligated to pay Additional Amounts; and

 

(b)          such
obligation cannot be avoided by the Issuer taking reasonable measures available to it; provided, however, that for
this purpose reasonable measures shall not include any change in the Issuer’s jurisdiction of organization or the location
of its principal executive office, or the incurrence of material out of pocket costs by it. No such notice of redemption will be
given earlier than 90 days prior to the earliest date on which the Issuer would be obligated to pay such Additional Amounts if
a payment in respect of the Notes were then due.

 

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Prior to the publication
or mailing of any notice of redemption of the Notes as described below, the Issuer must deliver to the Trustee (i) an Officers’
Certificate stating that the Issuer is entitled to effect such redemption and (ii) an opinion of legal counsel of recognized standing
stating that the Issuer has or will become obligated to pay Additional Amounts due to a Change in Tax Law. The Trustee will accept
and shall be entitled to rely on this certificate and opinion as sufficient evidence of the satisfaction of the conditions precedent
set forth in clauses (1) and (2) above, upon which it will be conclusive and binding on the Holders.

 

Section 3.09         Escrow
of Proceeds; Special Mandatory Redemption.

 

(a)          In
order for the Issuer to cause the Escrow Agent to release the Escrowed Property to the Issuer (the “Release”),
the Escrow Agent and the Trustee shall have received from the Issuer, on or before the Escrow Longstop Date, an Officer’s
Certificate, upon which both the Escrow Agent and the Trustee shall be entitled to rely absolutely without further investigation,
to the effect that:

 

(1)         (i)
the Acquisition will be consummated promptly upon release of the Escrowed Property and (ii) since the Issue Date, no material term
or condition of the Stock Purchase Agreement has been amended or waived in a manner or to an extent that would be materially prejudicial
to the interests of Holders, other than any amendment or waiver made with the consent of Holders of a majority of the Outstanding
Notes;

 

(2)         promptly
after consummation of the Acquisition, the Issuer will own, directly or indirectly, 80% of the outstanding shares of Cable Onda;
and

 

(3)         as
at the date of such Officer’s Certificate, there is no Default or Event of Default with respect to the Issuer under clauses
(8) or (9) of Section 6.01 hereof.

 

The Release will occur promptly upon
the receipt of such Officer’s Certificate. Upon the Release, the Escrowed Property will be paid out in accordance with the
Escrow Agreement and the Escrow Account will be reduced to zero.

 

(b)          In
the event that (i) the satisfaction of the conditions set forth in the paragraph (a) of this Section 3.09 does not take place on
or prior to the Escrow Longstop Date, (ii) in the reasonable judgment of the Issuer, the Acquisition will not be consummated on
or prior to the Escrow Longstop Date, (iii) the Stock Purchase Agreement terminates at any time on or prior to the Escrow Longstop
Date or (iv) there is a Default or an Event of Default with respect to the Issuer under clauses (8) or (9) of Section 6.01 hereof
on or prior to the Escrow Longstop Date (the date of any such event being the “Special Termination Date”), the
Issuer will redeem the entire aggregate principal amount of the Notes (the “Special Mandatory Redemption”) at
a price (the “Special Mandatory Redemption Price”) equal to the aggregate issue price of the Notes plus accrued
and unpaid interest and Additional Amounts, if any, from the Issue Date, or if applicable, from the most recent date to which interest
on the Notes was paid or provided for, to, but not including, the Special Mandatory Redemption Date (subject to the right of Holders
of record on the relevant record date to receive interest due on the relevant interest payment date).

 

(c)          Notice
of the Special Mandatory Redemption will be delivered by the Issuer, no later than one Business Day following the Special Termination
Date, to the Trustee, the Paying Agent and the Escrow Agent, and will provide that the Notes shall be redeemed on a date that is
not less than two Business Days prior and not later than the fifth Business Day after such notice is given by the Issuer in accordance
with the terms of the Escrow Agreement (the “Special Mandatory Redemption Date”).

 

(d)          No
later than 5:00 p.m. London time on the Business Day prior to the Special Mandatory Redemption Date, the Escrow Agent shall pay
to the Paying Agent for payment to each Holder the Special Mandatory Redemption Price for such Holder’s Notes and, concurrently
with the payment to such Holders, deliver any excess Escrowed Property (if any) to the Issuer.

 

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(e)          In
the event that the Special Mandatory Redemption Price payable upon such Special Mandatory Redemption exceeds the amount of the
Escrowed Property, the Issuer will pay the accrued and unpaid interest and Additional Amounts, if any, and any other amounts owing
to the Holders of the Notes.

 

(f)          If
at the time of such Special Mandatory Redemption, the Notes are listed on the Official List of the Luxembourg Stock Exchange and
admitted to trading on the Euro MTF Market, and the rules of the Luxembourg Stock Exchange so require, the Issuer will notify the
Luxembourg Stock Exchange that the Special Mandatory Redemption has occurred and any relevant details relating to such Special
Mandatory Redemption.

 

(g)          No
provisions of the Escrow Agreement and, to the extent such provisions relate to the Issuer’s obligation to redeem the Notes
in a Special Mandatory Redemption, this Indenture, may be amended, waived or modified in any manner materially adverse to the Holders
of the Notes without the consent of Holders of a majority of the Outstanding Notes. By accepting a Note, each Holder will be deemed
to have agreed to be bound by the terms of the Escrow Agreement and have irrevocably authorized the Trustee to take all the actions
set forth in the Escrow Agreement without the need for further direction from them under this Indenture.

 

Section 3.10         Sinking
fund.

 

Except as set forth
under Section 3.09 of this Indenture, the Issuer will not be required to make any other mandatory redemption or sinking fund payments
with respect to the Notes.

 

Section 3.11         [Reserved].

 

Section 3.12         Offer
to Purchase by Application of Excess Proceeds.

 

(a)          In
the event that, pursuant to Section 4.10 hereof, the Issuer is required to commence an offer to all Holders to purchase the Notes
(an “Excess Proceeds Offer”), it will follow the procedures specified in this Section 3.12.

 

(b)          Each
Excess Proceeds Offer will be made to all Holders and, to the extent applicable, to all holders of other Debt that is pari passu
with the Notes containing provisions similar to those set forth in this Indenture with respect to offers to purchase, prepay or
redeem with the proceeds of sales of assets. Each Excess Proceeds Offer will remain open for a period of at least 20 Business Days
and not more than 60 Business Days, following its commencement except to the extent that a longer period is required by applicable
law (the “Offer Period”). No later than three Business Days after the termination of the Offer Period (the “Purchase
Date”), the Issuer will apply all Excess Proceeds, in the case of an Excess Proceeds Offer (the “Offer Amount”)
to the purchase of the Notes and, if applicable, such other Pari Passu Debt (on a pro rata basis based on the principal
amount of the Notes and such other Pari Passu Debt surrendered, if applicable or, if less than the Offer Amount has been tendered,
all Notes and, if applicable, other Debt tendered in response to the Excess Proceeds Offer). Payment for any Notes so purchased
will be made in the same manner as interest payments are made.

 

(c)          If
the Purchase Date is on or after a record date for the payment of interest and on or before the related payment date, any accrued
and unpaid interest, if any, will be paid to the Person in whose name a Note is registered at the close of business on such record
date, and no additional interest will be payable to Holders who tender Notes pursuant to the Excess Proceeds Offer.

 

(d)          Upon
the commencement of an Excess Proceeds Offer, the Issuer will send, by first class mail, a notice to the Trustee and each of the
Holders with a copy to the Trustee. The notice will contain all instructions and materials necessary to enable such Holders to
tender Notes pursuant to the Excess Proceeds Offer. The notice, which will govern the terms of the Excess Proceeds Offer, will
state:

 

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(1)         that
the Excess Proceeds Offer is being made pursuant to this Section 3.12 and Section 4.10 hereof and the length of time the Excess
Proceeds Offer will remain open;

 

(2)         the
Offer Amount, the purchase price and the Purchase Date;

 

(3)         that
any Note not tendered or accepted for payment will continue to accrue interest;

 

(4)         that,
unless the Issuer defaults in making such payment, any Note accepted for payment pursuant to the Excess Proceeds Offer will cease
to accrue interest after the Purchase Date;

 

(5)         that
Holders electing to have a Note purchased pursuant to an Excess Proceeds Offer may elect to have Notes purchased in whole or in
part in a minimum amount of $200,000 and integral multiples of $1,000 in excess thereof;

 

(6)         that
Holders electing to have a Note purchased pursuant to any Excess Proceeds Offer will be required to surrender the Note, with the
form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, or transfer by book-entry
transfer through the facilities of the Depositary, to the account of the Issuer, or a Paying Agent at the address specified in
the notice at least three days before the Purchase Date;

 

(7)         that
Holders will be entitled to withdraw their election if the Issuer, the Depositary or the Paying Agent, as the case may be, receives,
not later than the expiration of the Offer Period, a facsimile transmission or letter setting forth the name of the Holder, the
principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to
have such Note purchased;

 

(8)         that,
if the aggregate principal amount of Notes and other Pari Passu Debt surrendered by holders thereof exceeds the Offer Amount, the
Issuer will select the Notes and other Pari Passu Debt to be purchased on a pro rata basis based on the principal amount
of Notes and such other Pari Passu Debt surrendered (with such adjustments as may be deemed appropriate by the Issuer such that
Notes will be purchased in whole or in part in a minimum amount of $200,000 and integral multiples of $1,000 in excess thereof);
and

 

(9)         that
Holders whose Definitive Registered Notes were purchased only in part will be issued new Definitive Registered Notes equal in principal
amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer).

 

(e)          On
or before the Purchase Date, the Issuer will, to the extent lawful, accept for payment, on a pro rata basis to the extent
necessary, the Offer Amount of Notes or portions thereof tendered pursuant to the Excess Proceeds Offer, or if less than the Offer
Amount has been tendered, all Notes tendered, and will deliver or cause to be delivered to the Trustee the Notes properly accepted
together with an Officer’s Certificate stating that such Notes or portions thereof were accepted for payment by the Issuer
in accordance with the terms of this Section 3.12. The Issuer or its Paying Agent, as the case may be, will promptly (but in any
case not later than five days after the Purchase Date) mail or deliver to each tendering Holder in the manner specified in the
Notes an amount equal to the purchase price of the Notes tendered by such Holder and accepted by the Issuer for purchase. In connection
with any purchase of Global Notes pursuant hereto, the Trustee will endorse such Global Notes to reflect the decrease in principal
amount of such Global Note resulting from such purchase. In connection with any partial purchase of Definitive Registered Notes,
the Issuer will promptly issue a new Definitive Registered Note, and the Trustee, upon written request from the Issuer, will procure
the authentication of and mail or deliver such new Definitive Registered Note to the tendering Holder, in a principal amount equal
to any unpurchased portion of the Definitive Registered Note surrendered. Any Note tendered but not accepted will be promptly mailed
or delivered by the Issuer to the Holder thereof. The Issuer will publicly announce and inform the Luxembourg Stock Exchange (for
as long as the Notes (if any) are admitted to trading on the Euro MTF Market and listed on the Official List of the Luxembourg
Stock Exchange) of the results of the Excess Proceeds Offer on the Purchase Date.

 

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(f)          Other
than as specifically provided in this Section 3.12, any purchase pursuant to this Section 3.12 shall be made pursuant to the
provisions of Sections 3.01 through 3.06 hereof (it being understood that any purchase pursuant to this Section 3.12 shall not
be subject to conditions precedent).

 

Section 3.13         Post-Tender
Redemption.

 

In connection with
any tender offer or other offer to purchase for all of the Notes, (including, for the avoidance of doubt, any Change of Control
Offer or Excess Proceeds Offer (each as defined herein)), if Holders of not less than 90% of the aggregate principal amount of
the then Outstanding Notes validly tender and do not validly withdraw such Notes in such tender offer and the Issuer, or any third
party making such tender offer in lieu of the Issuer, purchases all of the Notes validly tendered and not validly withdrawn by
such Holders, the Issuer or such third party will have the right upon not less than 10 nor more than 60 days’ notice to the
Trustee and the Holders, given not more than 30 days following such tender offer expiration date, to redeem all Notes, that remain
Outstanding following such purchase at a price equal to the price paid to each other Holder (excluding any early tender or incentive
fee) in such tender offer, plus, to the extent not included in the tender offer payment, accrued and unpaid interest, if any, thereon,
to, but excluding, the date of such redemption.

 

Article
4

Covenants

 

Section 4.01         Payment
of Notes.

 

The Issuer will
pay or cause to be paid the principal of, premium on, if any, interest and Additional Amounts, if any, on, the Notes on the dates
and in the manner provided in the Notes and this Indenture. Principal, premium, if any, interest and Additional Amounts, if any,
will be considered paid on the date due if the Trustee or the Paying Agent, if other than the Issuer, holds as of 10:00 a.m.
(London time) one Business Day prior to the due date money deposited by the Issuer in immediately available same-day freely transferrable
funds and designated for and sufficient to pay all principal, premium, if any, and interest and Additional Amounts, if any, then
due. If the Issuer or any of its Subsidiaries acts as Paying Agent, principal, premium, if any, interest and Additional Amounts,
if any, shall be considered paid on the due date if the entity acting as Paying Agent complies with Section 2.04 hereof.

 

Principal of, interest,
premium, if any, and Additional Amounts, if any, on the Notes will be payable at the specified office or agency of the Paying Agent.
All payments on the Global Notes will be made by transfer of immediately available funds to an account of the Holder of the Global
Notes in accordance with instructions given by that Holder.

 

Principal of, interest,
premium, if any, and Additional Amounts, if any, on any Definitive Registered Notes will be payable at the specified office or
agency of any Paying Agent in any location required to be maintained for such purposes pursuant to Section 2.03 hereof. In addition,
interest on Definitive Registered Notes may be paid by check mailed to the person entitled thereto as shown on the Register for
such Definitive Registered Notes.

 

The Issuer will
pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if
any, from time to time on demand at the then applicable interest rate on the Notes. The Issuer will pay interest (including post-petition
interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Amounts, if any (without
regard to any applicable grace period), at the then applicable interest rate on the Notes to the extent lawful.

 

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The Paying Agent
shall be entitled to make payments net of any taxes or other sums required by applicable law to be withheld or deducted.

 

Section 4.02         Maintenance
of Office or Agency.

 

The Issuer will
maintain the offices and agencies specified in Section 2.03 hereof. The Issuer shall give prompt written notice to the Trustee
of the location, and any change in the location, of such office or agency. If at any time the Issuer fails to maintain any such
required office or agency or fails to furnish the Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the trust office of the Trustee (the address of which is specified in Section 14.01 hereof).

 

The Issuer may also
from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission
will in any manner relieve the Issuer of its obligation to maintain an office or agency in the city of London for such purposes.
The Issuer will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location
of any such other office or agency.

 

The Issuer hereby
designates the trust office of the Trustee (the address of which is specified in Section 14.01 hereof) as one such office or agency
of the Issuer in accordance with Section 2.03 hereof.

 

Section 4.03         Provision
of financial information.

 

(a)          The
Issuer will furnish to the Trustee:

 

(1)         within
120 days after the end of the Issuer’s fiscal year, as applicable, beginning with the fiscal year ended December 31, 2018,
annual reports containing: (i) a discussion of the Issuer’s financial results including information similar to that in the
section in this Offering Memorandum entitled “Management’s Discussion and Analysis of Financial Condition and Results
of Operations”; (ii) the audited consolidated statement of financial position of the Issuer as at the end of the most
recent two fiscal years and audited consolidated income statements and statements of cash flow of Issuer for the most recent three
fiscal years, including notes to such financial statements, for and as at the end of such fiscal years and the report of the independent
auditors on the financial statements; and (iii) if required under IFRS, a pro forma income statement and a statement of
financial position information of the Issuer, together with explanatory footnotes, for any acquisitions, dispositions or recapitalizations
that have occurred since the beginning of the most recently completed fiscal year as to which such annual report relates (unless
such pro forma information has been provided in a previous report pursuant to clause (b) or (c) below); provided
that such pro forma financial information will be provided only to the extent available without unreasonable expense, in
which case the Issuer will provide, in the case of a material acquisition, acquired company financials to the extent available
without unreasonable expense;

 

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(2)         within
60 days after the end of each of the first three fiscal quarters of the Issuer’s fiscal year, as applicable, beginning with
the quarter ended March 31, 2019, quarterly reports containing the following information: (i) the unaudited condensed consolidated
statement of financial position of the Issuer as at the end of such quarter and unaudited condensed consolidated income statements
and statements of cash flow of each of the Issuer for the most recent quarter and year to date periods ending on the unaudited
condensed consolidated statement of financial position date and the comparable prior period (as determined by the IFRS standard
on preparation of interim condensed consolidated financial statements) and (ii) a copy of the related operating and financial review
included in the quarterly earnings release of the Issuer for the applicable fiscal quarter; and within 90 days after the end of
each of the first three fiscal quarters of each of the Issuer’s fiscal year, as applicable, if required under IFRS, a pro
forma interim condensed consolidated income statement and a statement of financial position of the Issuer, together with explanatory
footnotes, for any material acquisitions, dispositions or recapitalizations that have occurred since the beginning of the most
recently completed fiscal year as to which such quarterly report relates; provided that such pro forma financial
information will be provided only to the extent available without unreasonable expense, in which case the Issuer will provide,
in the case of a material acquisition, acquired company financial statements to the extent available without unreasonable expense,
provided that for so long as the Issuer maintains a listing on the Nasdaq Stockholm Exchange, the quarterly reports filed
by the Issuer as required by the rules of the Nasdaq Stockholm Exchange shall be deemed to fulfill the requirements of this clause
(2); and

 

(3)         promptly
after the occurrence of any material acquisition, disposition or restructuring of the Issuer and its Subsidiaries taken as a whole,
or any changes of the Chief Executive Officer or Chief Financial Officer at the Issuer, or a change in the auditors of the Issuer,
or any other material event that the Issuer announces publicly, a press release or report containing a description of such event.

 

(b)          At
any time that any of the Issuer’s Subsidiaries are Unrestricted Subsidiaries and any such Unrestricted Subsidiary or group
of Unrestricted Subsidiaries, if taken together as one Subsidiary, constitutes a “significant subsidiary” of the Issuer,
as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the U.S. Securities Act, then the annual and quarterly
financial information required by clauses (a)(1) and (a)(2) of this Section 4.03 shall include either (i) a reasonably detailed
presentation, either on the face of the financial statements or in the footnotes thereto, of the financial condition and results
of operations of the Issuer and its Restricted Subsidiaries separate from the financial condition and results of operations of
the Unrestricted Subsidiaries of the Issuer, or (ii) stand-alone audited or unaudited financial statements, as the case may
be, of such Unrestricted Subsidiary or Unrestricted Subsidiaries (as a group or otherwise) together with an unaudited reconciliation
to the financial information of the Issuer and its Subsidiaries, which reconciliation shall include the following items: Revenue,
Gross profit, Consolidated EBITDA, Net profit (loss), Cash and cash equivalents, Total assets, Total liabilities, Total equity
and interest expense.

 

(c)          In
addition, so long as the Notes remain Outstanding and during any period during which the Issuer is not subject to Section 13 or
15(d) of the Exchange Act nor exempt therefrom pursuant to Rule 12g3-2(b), the Issuer will furnish to Holders, holders of beneficial
owners and prospective purchasers of the Notes upon their request, the information required to be delivered pursuant to Rule 144A(d)(4)
under the Securities Act.

 

(d)          The
Issuer will also make available copies of all reports furnished to the Trustee (i) on the Issuer’s website, and (ii) for
so long as the Notes are listed on the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market and to the extent
that the rules of the Luxembourg Stock Exchange so require, copies of such reports will be available during normal business hours
at the offices of the Paying Agent.

 

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Section 4.04         Compliance
Certificate.

 

(a)          The
Issuer shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officer’s Certificate stating
that a review of the activities of the Issuer and its Subsidiaries during the preceding fiscal year has been made under the supervision
of the signing Officers with a view to determining whether the Issuer has kept, observed, performed and fulfilled its obligations
under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge,
the Issuer has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default
in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of
Default has occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the
Issuer is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and
remains in existence by reason of which payments on account of the principal of, premium on, if any, interest or Additional Amounts,
if any, on, the Notes is prohibited or if such event has occurred, a description of the event and what action the Issuer is taking
or proposes to take with respect thereto.

 

(b)          So
long as any of the Notes are Outstanding, the Issuer will deliver to the Trustee, forthwith but not later than 30 days upon any
Officer becoming aware of any Default or Event of Default, an Officer’s Certificate specifying such Default or Event of Default
and what action the Issuer is taking or proposes to take with respect thereto.

 

Section 4.05         [Reserved].

 

Section 4.06         Stay,
Extension and Usury Laws.

 

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

 

Section 4.07         [Reserved].

 

Section 4.08         [Reserved].

 

Section 4.09         Limitation
on Debt.

 

(a)          The
Issuer may not, and may not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any Debt; provided
that the Issuer and any of its Restricted Subsidiaries may Incur Debt if at the time of such Incurrence and after giving effect
to the Incurrence of such Debt and the application of the proceeds thereof, on a pro forma basis, the Net Leverage Ratio is less
than 3.0 to 1.0.

 

(b)          Notwithstanding
the limitation in Section 4.09(a), the following Debt (“Permitted Debt”) may be Incurred:

 

(1)         the
Incurrence by the Issuer of Debt pursuant to the Notes (other than Additional Notes);

 

(2)         any
Debt of the Issuer or any of its Restricted Subsidiaries outstanding on the Issue Date after giving effect to the use of proceeds
of the Notes;

 

(3)         Pari
Passu Debt of the Issuer and Debt of its Restricted Subsidiaries under Credit Facilities in an aggregate principal amount at any
one time outstanding that does not exceed an amount equal to the greater of (x) $500 million and (y) 8% of Total Assets; and any
Permitted Refinancing Debt in respect thereof, plus, (A) any accrual or accretion of interest that increases the principal amount
of Debt under Credit Facilities and (B) in the case of any refinancing of Debt permitted under this clause (iii) or any portion
thereof, the aggregate amount of fees, underwriting discounts, premiums and other costs and expenses Incurred in connection with
such refinancing;

 

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(4)         Debt
owed by the Issuer to any of its Restricted Subsidiaries or Debt owed by any Restricted Subsidiary of the Issuer to the Issuer
or any other Restricted Subsidiary of the Issuer; provided, however, that (A) if the Issuer is the obligor on such
Debt and the payee is not the Issuer, such Debt must be unsecured and expressly subordinated to the prior payment in full in cash
of all obligations then due with respect to the Issuer’s obligations under the Notes, and (B) either (x) the transfer or
other disposition by the Issuer or such Restricted Subsidiary of any Debt so permitted to a Person (other than to the Issuer or
any of its Restricted Subsidiaries) or (y) such Restricted Subsidiary ceasing to be a Restricted Subsidiary of the Issuer, will
at the time of such transfer or other disposition, in each case, be deemed to be an Incurrence of such Debt not permitted by this
clause (4);

 

(5)         the
Guarantee by the Issuer or any of its Restricted Subsidiaries of Debt of any of the Issuer’s Restricted Subsidiaries to the
extent that the Guaranteed Debt was permitted to be Incurred by another provision of this Section 4.09;

 

(6)         Acquired
Debt;

 

(7)         Minority
Shareholder Loans;

 

(8)         the
Incurrence by the Issuer or any of its Restricted Subsidiaries of Permitted Refinancing Debt in exchange for, or the net proceeds
of which are used to refund, replace or refinance, Debt Incurred by it pursuant to Section 4.09(a) and clauses (1), (2), (6) and
(8) of this Section 4.09(b), as the case may be;

 

(9)         Debt
of the Issuer or any of its Restricted Subsidiaries represented by letters of credit in order to provide security for workers’
compensation claims, health, disability or other employee benefits, payment obligations in connection with self-insurance or similar
requirements of the Issuer or any of its Restricted Subsidiaries in the ordinary course of business;

 

(10)        customary
indemnification, adjustment of purchase price or similar obligations, in each case, incurred in connection with the disposition
of any assets of the Issuer or any of its Restricted Subsidiaries, and earn-out provisions or contingent payments in respect of
purchase price or adjustment of purchase price or similar obligations in acquisition agreements other than Guarantees of Debt incurred
by any Person acquiring all or any portion of such assets for the purpose of financing such acquisition; provided that the
maximum aggregate liability in respect of each such Incurrence of such Debt will at no time exceed the gross proceeds actually
received by the Issuer or any of its Restricted Subsidiaries in connection with the related disposition;

 

(11)        obligations
in respect of (i) customs, VAT or other tax guarantees, (ii) bid, performance, completion, guarantee, surety and similar bonds,
including guarantees or obligations of the Issuer or any of its Restricted Subsidiaries with respect to letters of credit supporting
such obligations, (iii) customary cash management, cash pooling or netting or setting off arrangements, and (iv) the financing
of insurance premiums, in each case in the ordinary course of business and not related to Debt for borrowed money;

 

(12)        Debt
of the Issuer or any of its Restricted Subsidiaries arising from the honoring by a bank or other financial institution of a check,
draft or similar instrument including, but not limited to, electronic transfers, wire transfers, netting services and commercial
card payments, drawn against insufficient funds; provided that such Debt is extinguished within 30 days of Incurrence; and

 

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(13)        Debt
consisting of (a) mortgage financings, Purchase Money Obligations or other financings, Incurred for the purpose of financing all
or any part of the purchase price or cost of construction or improvement of property, plant or equipment acquired or constructed
in the ordinary course of business or (b) Debt otherwise Incurred to finance the purchase, lease, rental or cost of design, construction,
installation or improvement of property (real or personal) or equipment that is used or useful in the ordinary course of business,
whether through the direct purchase of assets or the Capital Stock of any Person owning such assets, and any Debt that refinances,
replaces or refunds such Debt, in an aggregate outstanding principal amount that, when taken together with the principal amount
of all other Debt Incurred pursuant to this clause (xiii) and then outstanding, will not exceed at any time the greater of $250
million and 3% of Total Assets;

 

(14)        Guarantees
by the Issuer or any Restricted Subsidiary of Debt or any other obligation or liability of the Issuer or any Restricted Subsidiary
(other than of any Debt Incurred in violation of this covenant); provided, however, that if the Debt being Guaranteed
is subordinated in right of payment to the Notes, then such Guarantee shall be subordinated substantially to the same extent as
the relevant Debt Guaranteed;

 

(15)        Debt
of the Issuer or any Restricted Subsidiary in an aggregate outstanding principal amount which, when taken together with any Permitted
Refinancing Debt in respect thereof and the principal amount of all other Debt Incurred pursuant to this clause (15) and then outstanding,
will not exceed 100% of the cash proceeds (net of attorneys’ fees, accountants’ fees, underwriters’ or placement
agents’ fees, listing fees, discounts or commissions and brokerage, consultant and other fees and charges actually incurred
in connection with such issuance or sale and net of taxes paid or payable as a result of such issuance or sale (after taking into
account any available tax credit or deductions and any tax sharing arrangements)) received by the Issuer from the issuance or sale
(other than to the Issuer or a Restricted Subsidiary) of its Subordinated Shareholder Loans or Capital Stock or otherwise contributed
to the equity of the Issuer, in each case, subsequent to the Issue Date (and in each case, other than through the issuance of Disqualified
Stock or Preferred Stock);

 

(16)        Debt
arising under borrowing facilities provided by a special purpose vehicle to the Issuer or any Restricted Subsidiary in connection
with the issuance of notes or other similar debt securities intended to be supported primarily by the payment obligations of the
Issuer or any Restricted Subsidiary in connection with any vendor financing platform; and

 

(17)        the
Incurrence by the Issuer or any of its Restricted Subsidiaries of Debt not otherwise permitted to be Incurred pursuant to clauses
(1) through (16) above, which, together with any other outstanding Debt Incurred pursuant to this clause (17), has an aggregate
principal amount at any time outstanding not in excess of the greater of $300 million and 4% of Total Assets, and any Permitted
Refinancing Debt of any debt which on the date it was Incurred was permitted to be Incurred pursuant to this clause (17), plus,
in the case of any refinancing of Debt permitted under this clause (17) or any portion thereof, the aggregate amount of fees, underwriting
discounts, premiums and other costs and expenses Incurred in connection with such refinancing.

 

(c)          The
Issuer will not incur any Debt (including Permitted Debt) that is contractually subordinated in right of payment to any other Debt
of the Issuer unless such Debt is also contractually subordinated in right of payment to the Notes on substantially identical terms;
provided, however, that no Debt will be deemed to be contractually subordinated in right of payment to any other
Debt of the Issuer solely by virtue of being unsecured or by virtue of being secured with different collateral or by virtue of
being secured on a junior priority basis or by virtue of the application of waterfall or other payment ordering provisions affecting
different tranches of Debt.

 

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(d)          For
the purposes of determining compliance with this Section 4.09, in the event that an item of Debt meets the criteria of more than
one of the types of Permitted Debt or is entitled to be Incurred pursuant to clause (a) of this Section 4.09, the Issuer in its
sole discretion may classify and from time to time reclassify such item of Debt or any portion thereof and only be required to
include the amount of such Debt as one of such types.

 

(e)          For
the purposes of determining compliance with any covenant in this Indenture or whether an Event of Default has occurred, in each
case, where Debt is denominated in a currency other than U.S. Dollars, the amount of such Debt will be the U.S. Dollar Equivalent
determined on the date of such Incurrence and any covenant in this Indenture shall not be deemed to be exceeded solely as a result
of fluctuations in exchange rates or currency values; provided, however, that if any such Debt that is denominated
in a different currency is subject to an Interest Rate, Currency or Commodity Price Agreement with respect to U.S. Dollars covering
principal and premium, if any, payable on such Debt, the amount of such Debt expressed in U.S. Dollars will be adjusted to take
into account the effect of such an agreement.

 

Section 4.10         Limitation
on Asset Dispositions.

 

(a)          The
Issuer may not, and may not permit any of its Restricted Subsidiaries to, make any Asset Disposition in one or more related transactions
unless:

 

(1)         the
consideration the Issuer or such Restricted Subsidiary receives for such Asset Disposition is not less than the Fair Market Value
of the assets sold (as determined by the Issuer’s senior management or Board of Directors); and

 

(2)         unless
the Asset Disposition is a Permitted Asset Swap, at least 75% of the consideration the Issuer or such Restricted Subsidiary receives
in respect of such Asset Disposition consists of:

 

(A)         cash
or Cash Equivalents;

 

(B)         the
assumption of the Issuer’s or any of its Restricted Subsidiaries’ Debt or other liabilities (other than contingent
liabilities or Debt or liabilities that are subordinated to the Notes) or Debt or other liabilities of such Restricted Subsidiary
relating to such assets and, in each case, the Issuer or the Restricted Subsidiary, as applicable, is released from all liability
on the Debt assumed;

 

(C)         any
Capital Stock or assets of the kind referred to in clauses (b)(4) or (5) of this Section 4.10;

 

(D)         a
combination of the consideration specified in clauses (A) through (C) of this clause (2); and

 

(b)          within
365 days of such Asset Disposition, the Net Available Proceeds are applied (at the Issuer or applicable Restricted Subsidiary’s
option):

 

(1)         to
repay, redeem, retire or cancel outstanding Senior Secured Debt:

 

(2)         first,
to redeem Notes or purchase Notes pursuant to an offer to all Holders at a purchase price equal to at least 100% of the principal
amount thereof, plus accrued and unpaid interest and second, to the extent any Net Available Proceeds from such Asset Disposition
remain, to any other use as determined by the Issuer or the applicable Restricted Subsidiary that is not otherwise prohibited by
this Indenture;

 

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(3)         to
repurchase, prepay, redeem or repay Pari Passu Debt; provided that the Issuer makes an offer to all Holders on a pro rata
basis to purchase their Notes in accordance with the provisions set forth below for an Excess Proceeds Offer;

 

(4)         to
acquire all or substantially all of the assets of, or any Capital Stock of, another Related Business, if, after giving effect to
any such acquisition of Capital Stock, the Related Business is or becomes a Restricted Subsidiary of the Issuer;

 

(5)         to
make a capital expenditure or acquire other assets (other than Capital Stock and cash or Cash Equivalents), rights (contractual
or otherwise) and properties, whether tangible or intangible (including ownership interests) that are used or intended for use
in connection with a Related Business;

 

(6)         to
the extent permitted, to redeem Notes as provided under Section 3.07 hereof;

 

(7)         enter
into a binding commitment to apply the Net Available Proceeds pursuant to clauses (4) or (5) of this clause (b); provided
that such binding commitment (or any subsequent binding commitment replacing the initial binding commitment that is entered into
within 180 days following the aforementioned 365-day period) shall be treated as a permitted application of the Net Available Proceeds
from the date of such commitment until the earlier of (X) the date on which such acquisition or expenditure is consummated and
(Y) the 180th day following the expiration of the aforementioned 365-day period; or

 

(8)         any
combination of the foregoing clauses (1) through (7) of this clause (b).

 

(c)          For
purposes of Section 4.10(b), any securities, notes or other obligations received by the Issuer or any such Restricted Subsidiary
from such transferee that are promptly converted by the recipient thereof into cash, Cash Equivalents or readily marketable securities
(to the extent of the cash, Cash Equivalents or readily marketable securities received in that conversion), shall be deemed cash.

 

(d)          The
amount of such Net Available Proceeds not so used as set forth in Section 4.10(b) constitutes “Excess Proceeds.”
Pending the final application of any such Net Available Proceeds, the Issuer may temporarily reduce revolving credit borrowings
or otherwise use such Net Available Proceeds in any manner that is not prohibited by the terms of this Indenture.

 

(e)          When
the aggregate amount of Excess Proceeds exceeds $75 million, the Issuer will, within 15 Business Days of the end of the applicable
period in clause (b) of this Section 4.10, make an offer to purchase (an “Excess Proceeds Offer”) from all Holders
and from the holders of any Pari Passu Debt, to the extent required by the terms thereof, on a pro rata basis, in accordance
with Section 3.12 hereof or the agreements governing any such Pari Passu Debt, the maximum principal amount (expressed as a minimum
amount of $200,000 and integral multiples of $1,000 in excess thereof) of the Notes and any such Pari Passu Debt that may be purchased
with the amount of the Excess Proceeds. The offer price as to each Note and any such Pari Passu Debt will be payable in cash in
an amount equal to (solely in the case of the Notes) 100% of the principal amount of such Note and (solely in the case of Pari
Passu Debt) no greater than 100% of the principal amount (or accreted value, as applicable) of such Pari Passu Debt, plus, in each
case, accrued and unpaid interest, if any, to the date of purchase.

 

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(f)          To
the extent that the aggregate principal amount of Notes and any such Pari Passu Debt tendered pursuant to an Excess Proceeds Offer
is less than the aggregate amount of Excess Proceeds, the Issuer may use the amount of such Excess Proceeds not used to purchase
Notes and Pari Passu Debt for purposes that are not otherwise prohibited by this Indenture. If the aggregate principal amount of
Notes and any such Pari Passu Debt validly tendered and not withdrawn by holders thereof exceeds the aggregate amount of Excess
Proceeds, the Notes and any such Pari Passu Debt to be purchased will be selected by the Registrar or the Paying Agent on a pro
rata basis (based upon the principal amount of Notes and the principal amount or accreted value of such Pari Passu Debt tendered
by each holder as provided or calculated by the Issuer). Upon completion of each such Excess Proceeds Offer, the amount of Excess
Proceeds will be reset to zero.

 

If the Issuer is
obliged to make an Excess Proceeds Offer, the Issuer will purchase the Notes and Pari Passu Debt, at the option of the holders
thereof, in whole or in part in a minimum amount of $200,000 and integral multiples of $1,000 in excess thereof on a date that
is not later than 60 days from the date the notice of the Excess Proceeds Offer is given to such holders, or such later date as
may be required under the Exchange Act.

 

(g)          If
the Issuer is required to make an Excess Proceeds Offer, the Issuer will comply with the applicable tender offer rules, including
Rule 14e-1 under the Exchange Act and any other applicable securities laws and regulations, including the requirements of any applicable
securities exchange on which Notes are then listed. To the extent that the provisions of any securities laws or regulations conflict
with the provisions of this Section 4.10 and Section 3.12 hereof, the Issuer will comply with such securities laws and regulations
and will not be deemed to have breached its obligations described in this Section 4.10 or Section 3.12 hereof by virtue thereof.

 

Section 4.11         [Reserved].

 

Section 4.12         Limitation
on Liens securing Debt.

 

(a)          The
Issuer may not, and may not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur, suffer to exist or become
effective any Lien (other than Permitted Liens) to secure any Debt on or with respect to any property or assets now owned or hereafter
acquired unless the Notes are equally and ratably secured by such Lien; provided that, if the Debt secured by such Lien
is subordinated or junior in right of payment to the Notes, then the Lien securing such Debt shall be subordinated or junior in
right of payment to the Lien securing the Notes.

 

(b)          Any
Lien created for the benefit of the Holders pursuant to this Section 4.12 will provide by its terms that such Lien will be automatically
and unconditionally released and discharged upon the release and discharge of the initial Lien to which it relates other than as
a consequence of an enforcement action with respect to the assets subject to such initial Lien.

 

(c)          For
purposes of determining compliance with this Section 4.12, (x) a Lien need not be Incurred solely by reference to one category
of Permitted Liens but may be Incurred under any combination of such categories (including in part under one such category and
in part under any other such category) and (y) in the event that a Lien (or any portion thereof) meets the criteria of one or more
of such categories of Permitted Liens the Issuer shall, in its sole discretion, divide, classify or may subsequently reclassify
at any time such Lien (or any portion thereof) in any manner that complies with this Section 4.12 and the definition of “Permitted
Liens”.

 

(d)          With
respect to any Lien securing Debt that was permitted to secure such Debt at the time of the Incurrence of such Debt, such Lien
shall also be permitted to secure any Increased Amount of such Debt. The “Increased Amount” of any Debt shall mean
any increase in the amount of such Debt in connection with any accrual of interest, the accretion of accreted value, the amortization
of original issue discount, the payment of interest in the form of additional Debt with the same terms or in the form of common
stock, the payment of dividends on Preferred Stock in the form of additional shares of Preferred Stock of the same class, accretion
of original issue discount or liquidation preference, any fees, underwriting discounts, accrued and unpaid interest, premiums and
other costs and expenses incurred in connection therewith and increases in the amount of Debt outstanding solely as a result of
fluctuations in the exchange rate of currencies or increases in the value of property securing Debt.

 

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Section 4.13         Limitation
on lines of business.

 

The Issuer, together
with its Restricted Subsidiaries, will not primarily engage in any business other than in a Related Business.

 

Section 4.14         [Reserved].

 

Section 4.15         Change
of Control.

 

(a)          Within
60 days of the occurrence of a Change of Control Triggering Event, the Issuer will be required to make an Offer to Purchase all
Outstanding Notes at a purchase price equal to 101% of their principal amount plus accrued interest and any Additional Amounts
thereon to the date of purchase (subject to the right of Holders of record on the relevant record date to receive interest due
on the relevant interest payment date) (a “Change of Control Offer”).

 

(b)          [Reserved].

 

(c)          The
Issuer will not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if (x)
another party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set
forth in this Indenture applicable to a Change of Control Offer made by the Issuer and purchases all Notes validly tendered and
not withdrawn under such Change of Control Offer or (y) a notice of redemption has been given pursuant to Section 3.07 unless and
until there is a default in payment of the applicable redemption price. Notwithstanding anything to the contrary contained herein,
a Change of Control Offer may be made in advance of a Change of Control, conditioned upon the consummation of such Change of Control,
if a definitive agreement is in place for the Change of Control at the time the Change of Control Offer is made.

 

Section 4.16         Limitation
on Guarantees of the Issuer’s Debt by Subsidiaries.

 

(a)          The
Issuer will not permit any Significant Subsidiary to, directly or indirectly, provide a Guarantee of any of the Issuer’s
Debt for which such Significant Subsidiary’s maximum exposure in respect of such Guarantee exceeds $50 million unless such
Significant Subsidiary simultaneously executes and delivers to the Trustee a supplemental indenture providing for its payment Guarantee
of the Notes; provided

 

(1)         if
the Issuer’s Debt is pari passu in right of payment to the Notes, such Significant Subsidiary’s Guarantee of
the Issuer’s Debt shall rank pari passu in right of payment to its Guarantee of the Notes;

 

(2)         if
the Issuer’s Debt is subordinated in right of payment to the Notes, such Significant Subsidiary’s Guarantee of the
Issuer’s Debt shall be subordinated in right of payment to its Guarantee of the Notes substantially to the same extent as
the Issuer’s Debt is subordinated in right of payment to the Notes;

 

(3)         a
Significant Subsidiary’s Guarantee of the Notes may be limited in amount to the extent required by fraudulent conveyance,
thin capitalization, corporate benefit, financial assistance or other similar laws (but, in such a case, the Guarantee of the Notes
shall be given on an equal and ratable basis with its Guarantee of the Issuer’s Debt to the extent permitted by applicable
law); and

 

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(4)         for
so long as it is not permissible under applicable law for such Significant Subsidiary to provide a Guarantee of the Notes, such
Significant Subsidiary need not provide such a Guarantee of the Notes (but, in such a case, the Issuer shall procure that such
Significant Subsidiary will use its reasonable best efforts to undertake all whitewash or similar procedures legally available
to it to eliminate the relevant legal prohibition, and shall give a Guarantee of the Notes at such time (and to the extent) that
it thereafter becomes permissible).

 

(b)          Clause
(a) of this Section 4.16 shall not apply to (1) the granting by such Significant Subsidiary of a Permitted Lien under circumstances
which do not otherwise constitute the Guarantee of the Issuer’s Debt, (2) the Guarantee by any Significant Subsidiary of
any Permitted Refinancing Debt that refinances Debt of the Issuer which benefitted from a Guarantee by any Significant Subsidiary
Incurred in compliance with this covenant immediately prior to such refinancing, or (c) any Guarantee by a Significant Subsidiary
existing as of the Issue Date.

 

(c)          Notwithstanding
the foregoing, any Guarantee of the Notes created pursuant to the provisions described above shall provide by its terms that such
Guarantee shall be automatically and unconditionally released and discharged upon: (x) such Subsidiary ceasing to be a Significant
Subsidiary (including as a result of any sale, exchange or transfer, to any Person, of all of the Issuer’s Capital Stock
in such Significant Subsidiary) in compliance with this Indenture; or (y) the release by the holders or lenders of the Issuer’s
Debt described in the preceding paragraph of their Guarantee by such Significant Subsidiary (including any deemed release upon
payment in full of all obligations under such Debt (but not under the relevant Guarantee)), at a time when (I) no other Debt of
the Issuer has been Guaranteed by such Significant Subsidiary or (II) the holders of all such other Debt which is Guaranteed by
such Significant Subsidiary also release their Guarantee by such Significant Subsidiary (including any deemed release upon payment
in full of all obligations under such Debt (but not under the relevant Guarantee)).

 

Section 4.17         [Reserved].

 

Section 4.18         Payments
for consent.

 

The Issuer will
not, and will not permit any of its Subsidiaries to, directly or indirectly, pay or cause to be paid any consideration to or for
the benefit of any Holder or beneficial holder of Notes for or as an inducement to any consent, waiver or amendment of any of the
terms of the provisions of this Indenture or the Notes unless such consideration is offered to be paid and is paid to all Holders
and beneficial holders of Notes that consent, waive or agree to amend in the time frame set forth in the solicitation documents
relating to such consent, waiver or agreement. Notwithstanding the foregoing, the Issuer and its Subsidiaries shall be permitted,
in any offer or payment of consideration for, or as an inducement to, any consent, waiver or amendment of any of the terms or provisions
of this Indenture, to exclude Holders and beneficial holders of Notes in any jurisdiction where (i) the solicitation of such consent,
waiver or amendment, including in connection with an offer to purchase for cash, or (ii) the payment of the consideration therefor
would require the Issuer or any of its Subsidiaries to file a registration statement, prospectus or similar document under any
applicable securities laws (including, but not limited to, the United States federal securities laws and the laws of the European
Union or its member states), which the Issuer in its sole discretion determines (acting in good faith) (A) would be materially
burdensome (it being understood that it would not be materially burdensome to file the consent document(s) used in other jurisdictions,
any substantially similar documents or any summary thereof with the securities or financial services authorities in such jurisdiction);
or (B) such solicitation would otherwise not be permitted under applicable law in such jurisdiction.

 

Section 4.19         [Reserved].

 

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Section 4.20         Maintenance
of listing.

 

The Issuer will
use its commercially reasonable efforts to obtain and maintain the listing of the Notes on the Official List of the Luxembourg
Stock Exchange for so long as any Notes remain Outstanding; provided that if the Issuer is unable to obtain admission to
listing of the Notes on the Luxembourg Stock Exchange or if at any time the Issuer determines that it will not maintain such listing,
it will use its commercially reasonable efforts to obtain and maintain a listing of the Notes on another recognized stock exchange.

 

Section 4.21         Financial
Calculations for Limited Condition Transactions.

 

(a)          In
connection with any action being taken in connection with a Limited Condition Transaction, for purposes of determining compliance
with any provision of this Indenture which requires that no Default or Event of Default, as applicable, has occurred, is continuing
or would result from any such action, as applicable, such condition shall, at the option of the Issuer, be deemed satisfied, so
long as no Default or Event of Default, as applicable, exists on the date the definitive agreement (or other relevant definitive
documentation) for such Limited Condition Transaction is entered into. For the avoidance of doubt, if the Issuer has exercised
its option under the first sentence of this paragraph, and any Default or Event of Default occurs following the date such definitive
agreement for a Limited Condition Transaction is entered into and prior to the consummation of such Limited Condition Transaction,
any such Default or Event of Default shall be deemed to not have occurred or be continuing for purposes of determining whether
any action being taken in connection with such Limited Condition Transaction is permitted hereunder.

 

(b)          In
connection with any action being taken in connection with a Limited Condition Transaction for purposes of:

 

(1)         determining
compliance with any provision of this Indenture which requires the calculation of any financial ratio or test, including the Net
Leverage Ratio; or

 

(2)         testing
baskets set forth in this Indenture (including baskets measured as a percentage of Total Assets);

 

in each case, at the option of the Issuer
(the Issuer’s election to exercise such option in connection with any Limited Condition Transaction, an “LCT Election”),
the date of determination of whether any such action is permitted hereunder, shall be deemed to be the date the definitive agreement
(or other relevant definitive documentation) for such Limited Condition Transaction is entered into (the “LCT Test Date”);
provided, however, that the Issuer shall be entitled to subsequently elect, in its sole discretion, the date of consummation
of such Limited Condition Transaction instead of the LCT Test Date as the applicable date of determination, and if, after giving
pro forma effect to the Limited Condition Transaction and the other transactions to be entered into in connection therewith
(including any Incurrence of Debt and the use of proceeds thereof), as are appropriate and consistent with the pro forma adjustment
provisions set forth in the definition of “Consolidated EBITDA” and “Net Leverage Ratio”, the Issuer or
any Restricted Subsidiary could have taken such action on the relevant LCT Test Date in compliance with such ratio, test or basket,
such ratio, test or basket shall be deemed to have been complied with.

 

(c)          If
the Issuer has made an LCT Election and any of the ratios, tests or baskets for which compliance was determined or tested as of
the LCT Test Date are exceeded as a result of fluctuations in any such ratio, test or basket, including due to fluctuations in
Consolidated EBITDA or Total Assets, of the Issuer and its Restricted Subsidiaries at or prior to the consummation of the relevant
transaction or action, such baskets or ratios will not be deemed to have been exceeded as a result of such fluctuations. If the
Issuer has made an LCT Election for any Limited Condition Transaction, then in connection with any subsequent calculation of any
ratio, test or basket availability under this Indenture (including with respect to the Incurrence of Debt or Liens, or the making
of Asset Dispositions, acquisitions, mergers, the conveyance, lease or other transfer of all or substantially all of the assets
of the Issuer or any Restricted Subsidiary or the Designation of an Unrestricted Subsidiary) on or following the relevant LCT Test
Date and prior to the earlier of the date on which such Limited Condition Transaction is consummated or the definitive agreement
for such Limited Condition Transaction is terminated or expires without consummation of such Limited Condition Transaction, any
such ratio, test or basket shall be calculated on a pro forma basis assuming such Limited Condition Transaction and other transactions
in connection therewith (including any Incurrence of Debt and the use of proceeds thereof) have been consummated.

 

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Section 4.22         Additional
Amounts.

 

(a)          The
Issuer with respect to payments under the Notes agrees that, if any deduction or withholding of any present or future taxes, levies,
imposts or charges whatsoever imposed by or for the account of any jurisdiction in which the Issuer is organized, engaged in business
or resident for tax purposes, or from or through which payment on the Notes is made by or on behalf of the Issuer (including the
jurisdiction of any paying agent) or any political subdivision or taxing authority thereof or therein having the power to tax (each,
a “Relevant Taxing Jurisdiction”) and any interest, penalties and other liabilities with respect thereto (collectively,
“Taxes”) shall be required to be made, the Issuer will (subject to the limitations described below) pay such
additional amounts (“Additional Amounts”) in respect of principal (and premium, if any) and interest as may
be necessary in order that the net amounts received pursuant to the Notes after such deduction or withholding (including any withholding
or deduction from such Additional Amounts) shall equal the respective amounts of principal (and premium, if any) and interest specified
in the Notes that would have been received if such Taxes had not been required to be withheld or deducted; provided, however,
that the Issuer shall not be required to make any payment of Additional Amounts for or on account of:

 

(1)         any
Taxes imposed by or for the account of a Relevant Taxing Jurisdiction which would not be payable but for the fact that the holder
or beneficial owner of a Note (or a fiduciary, settlor, beneficiary, partner of, member or shareholder of, or possessor of a power
over, the relevant holder, if the relevant holder is an estate, trust, nominee, partnership, limited liability company or corporation)
is a citizen, domiciliary, national or resident of, incorporated in, or engaging in business or maintaining a permanent establishment
or being physically present in, such Relevant Taxing Jurisdiction or otherwise having some present or former connection with such
Relevant Taxing Jurisdiction other than the holding or ownership of such Note or the receipt of principal of (and premium, if any)
and interest on such Note or the exercise of rights under or the enforcement of such Note or this Indenture;

 

(2)         any
Tax that would not have been imposed but for the presentation of a Note (where presentation is required) for payment on a date
more than 30 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided
for, whichever occurs later, except to the extent that the holder or beneficial owner would have been entitled to such Additional
Amounts on presenting the same for payment on any day (including the last day) within such 30-day period;

 

(3)         [Reserved];

 

(4)         any
Tax that would not have been imposed but for a failure by the relevant holder or beneficial owner of the Note to comply with any
applicable certification, information, identification, documentation or other reporting requirements, whether required by statute,
treaty, regulation or administrative practice, of a Relevant Taxing Jurisdiction, if such compliance is legally required as a precondition
to relief or exemption from such Tax (including without limitation a certification that such holder or beneficial owner is not
resident in the Relevant Taxing Jurisdiction); provided, however, that this clause (4) shall not apply if the Issuer
shall not have provided the holder of the Note with written notice of the applicable requirement at least 60 days prior to the
date that the holder or beneficial owner of the Note is required to comply with such applicable requirement;

 

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(5)         any
estate, inheritance, gift, sale, transfer, personal property or similar taxes;

 

(6)         [Reserved];

 

(7)         any
Taxes payable other than by deduction or withholding from payments under, or with respect to, the Notes;

 

(8)         any
Taxes imposed or withheld by reason of the failure of the holder or beneficial owner of the Note to comply with the requirements
of Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), as of the date hereof
(or any amended or successor version that is substantively comparable and not materially more onerous to comply with), the U.S.
Treasury Regulations issued thereunder or any official interpretation thereof, any law implementing an intergovernmental approach
thereto or any agreement entered into pursuant to Section 1471 of the Code; or

 

(9)         any
combination of clauses (1) through (8) above.

 

(b)          In
addition, the Issuer shall not have any obligation to pay Additional Amounts to a holder that is a fiduciary or partnership or
an entity that is not the sole beneficial owner of the payment of the principal or interest on a Note to the extent that the laws
of the Relevant Taxing Jurisdiction require the payment to be included in the income of a beneficiary or settlor for tax purposes
with respect to such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to the Additional
Amounts had it been the holder of such Note.

 

(c)          If
the Issuer becomes aware that it will be obligated to pay any Additional Amounts with respect to any payment under the Notes, the
Issuer will deliver to the Trustee and the Paying Agent on a date that is at least 30 days prior to the date of that payment (unless
that obligation to pay Additional Amounts arises less than 45 days prior to that payment date, in which case the Issuer shall notify
the Trustee and the Paying Agent promptly thereafter) an Officer’s Certificate stating that the fact that Additional Amounts
will be payable and the amount estimated to be so payable. The Officer’s Certificate must also set forth any other information
reasonably necessary to enable the Paying Agent to pay Additional Amounts to Holders on the relevant payment date. The Trustee
shall be entitled to rely solely on such Officer’s Certificate as conclusive proof that such payments are necessary.

 

(d)          The
Issuer will also make or cause to be made such withholding or deduction of Taxes required by law and will remit the full amount
of Taxes so deducted or withheld to the relevant taxing authority in accordance with all applicable laws. The Issuer will use its
reasonable efforts to obtain tax receipts from each such tax authority evidencing the payment of any Taxes so deducted or withheld.
The Issuer will, upon request, make available to the Trustee and the paying agent, as soon as reasonably practicable after the
date on which the payment of any Taxes so deducted or withheld is due pursuant to applicable law, certified copies of tax receipts
evidencing such payment by the Issuer or if, notwithstanding the Issuer’s efforts to obtain such receipts, the same are not
obtainable, other evidence reasonably available to the Issuer and reasonably satisfactory to the Trustee and the paying agent of
such payment by the Issuer. If reasonably requested by the Trustee or the paying agent, the Issuer will provide to the Trustee
and the paying agent such information as may be in the possession of the Issuer (and not otherwise in the possession of the Trustee
and paying agent) to enable the Trustee and paying agent to determine the amount of withholding taxes attributable to any particular
Holder, provided however that in no event shall the Issuer be required to disclose any information that it reasonably deems confidential
or is otherwise not legally entitled to disclose.

 

(e)          In
addition to the foregoing, the Issuer will pay, any present or future stamp, issue, registration, transfer, documentation, court,
excise or property taxes imposed in connection with the execution, issue, delivery, registration or enforcement of the Notes or
this Indenture.

 

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(f)          The
foregoing provisions will survive any termination, defeasance or discharge of this Indenture and will apply mutatis mutandis
to any jurisdiction in which any successor Person to the Issuer is organized, engaged in business or resident for tax purposes
or from or through which payment on the Notes is made by or on behalf of such successor Person (including the jurisdiction of any
paying agent) or any political subdivision or taxing authority thereof or therein having the power to tax.

 

(g)          Whenever
in this Indenture or the Notes there is mentioned, in any context, the payment of principal (and premium, if any), redemption price,
interest or any other amount payable under any Note, such mention will be deemed to include mention of the payment of Additional
Amounts to the extent that, in such context, Additional Amounts are or would be payable in respect thereof.

 

Section 4.23         Suspension
of certain covenants when Notes rated investment grade.

 

(a)          If
on any date following the Issue Date (the “Suspension Date”):

 

(1)         the
Notes are rated Investment Grade by two of three Rating Agencies; and

 

(2)         no
Default or Event of Default shall have occurred and be continuing on such date, then, the Issuer will notify the Trustee (provided
that no such notification shall be a condition for the suspension of the covenants set forth below) and beginning on such Suspension
Date and continuing until such time, if any, at which the Notes cease to be rated Investment Grade by either Rating Agency (such
period, the “Suspension Period”), the covenants specifically listed under the following sections hereof will
no longer be applicable to the Notes and any related default provisions of this Indenture will cease to be effective and will not
be applicable to the Issuer:

 

(A)         Section
4.10;

 

(B)         Section
4.09; and

 

(C)         clause
(3) of Section 5.01(a).

 

(b)          Such
covenants will not, however, be of any effect with regard to the actions of Issuer and its Restricted Subsidiaries properly taken
during the continuance of the Suspension Period; provided that all Debt Incurred during the Suspension Period will be classified
to have been Incurred pursuant to Section 4.09(b)(2). Upon the occurrence of a Suspension Period, the amount of Excess Proceeds
shall be reset at zero.

 

Section 4.24         Limitation
on Designation of Unrestricted Subsidiaries.

 

(a)          The
Issuer may designate, after the Issue Date, any Subsidiary of the Issuer (including any newly created or acquired Subsidiary) as
an “Unrestricted Subsidiary” (a “Designation”) only if, at the time of or after giving effect to
such Designation:

 

(1)         no
Default or Event of Default shall have occurred and be continuing;

 

(2)         the
Issuer could Incur US$1.00 of Debt pursuant to Section 4.09(a); and

 

(3)         the
aggregate Investments (other than Permitted Investments) by the Issuer and its Restricted Subsidiaries in all Unrestricted Subsidiaries
shall not exceed the greater of (x) $950 million or (y) 10% of Total Assets at any time outstanding.

 

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(b)          Neither
the Issuer nor any Restricted Subsidiary will at any time:

 

(1)         provide
credit support for, subject any of its property or assets (other than Liens over the Capital Stock, Debt and other securities of
any Unrestricted Subsidiary securing Debt of that Unrestricted Subsidiary and its Subsidiaries) to the satisfaction of, or Guarantee,
any Debt of any Unrestricted Subsidiary (including any undertaking, agreement or instrument evidencing such Debt);

 

(2)         be
directly or indirectly liable for any Debt of any Unrestricted Subsidiary;

 

(3)         be
directly or indirectly liable for any Debt which provides that the holder thereof may (upon notice, lapse of time or both) declare
a default thereon or cause the payment thereof to be accelerated or payable prior to its final scheduled maturity upon the occurrence
of a default with respect to any Debt of any Unrestricted Subsidiary; or

 

(4)         make
any Investment (other than a Permitted Investment) in any Unrestricted Subsidiary to the extent such Investment, together with
the aggregate Investments in all Unrestricted Subsidiaries then outstanding, exceeds the amount set out in Section 4.24(a)(3).

 

(c)          The
Issuer may redesignate an Unrestricted Subsidiary as a Restricted Subsidiary (a “Redesignation”) only if all
Liens and Debt of such Unrestricted Subsidiary outstanding immediately following such Redesignation if Incurred at such time would
have been permitted to be Incurred for all purposes of this Indenture.

 

(d)          For
purposes of this Section 4.24:

 

(1)         “Investments”
shall equal the portion (proportionate to the Issuer’s direct or indirect equity interest in a Restricted Subsidiary to be
Designated as an Unrestricted Subsidiary) of the Fair Market Value of the net assets of such Restricted Subsidiary at the time
of the Designation of such Subsidiary as an Unrestricted Subsidiary;

 

(2)         The
aggregate Investments (other than Permitted Investments) by the Issuer and its Restricted Subsidiaries in all Unrestricted Subsidiaries
shall be reduced upon the Redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary by an amount equal to the lesser
of (x) the Issuer’s direct or indirect “Investment” in such Unrestricted Subsidiary at the time of such Redesignation,
and (y) the portion (proportionate to the Issuer’s direct or indirect equity interest in such Subsidiary) of the Fair Market
Value of the net assets of such Subsidiary at the time of such Redesignation;

 

(3)         any
property transferred to or from an Unrestricted Subsidiary shall be valued at its Fair Market Value at the time of such transfer,
as determined in good faith by the Issuer; and

 

(4)         the
amount of any Investment outstanding at any time shall be reduced by any dividend, distribution, interest payment, return of capital,
repayment or other amount received by the Issuer or a Restricted Subsidiary in respect of such Investment.

 

(e)          The
Designation of a Subsidiary of the Issuer as an Unrestricted Subsidiary shall be deemed to include the Designation of all Subsidiaries
of such Subsidiary as Unrestricted Subsidiaries.

 

(f)          All
Designations and Redesignations shall be evidenced by an Officer’s Certificate of the Issuer, delivered to the Trustee certifying
compliance with this Section 4.24.

 

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Section 4.25         FATCA

 

(a)          Mutual
Undertaking Regarding Information Reporting and Collection Obligations. Each party shall, within ten (10) business days of
a written request by another party, supply to that other party such forms, documentation and other information relating to it,
its operations, or the Notes as that other party reasonably requests for the purposes of that other party’s compliance with
Applicable Law and shall notify the relevant other party reasonably promptly in the event that it becomes aware that any of the
forms, documentation or other information provided by such party is (or becomes) inaccurate in any material respect; provided,
however, that no party shall be required to provide any forms, documentation or other information pursuant to this paragraph to
the extent that: (i) any such form, documentation or other information (or the information required to be provided on such form
or documentation) is not reasonably available to such party and cannot be obtained by such party using reasonable efforts; or (ii)
doing so would or might in the reasonable opinion of such party constitute a breach of any: (a) Applicable Law; (b) fiduciary duty;
or (c) duty of confidentiality.

 

(b)          Notice
of Possible Withholding Under FATCA. The Issuer shall notify the Paying Agent in the event that it determines that any payment
to be made by the Paying Agent under the Notes is a payment which could be subject to FATCA Withholding if such payment were made
to a recipient that is generally unable to receive payments free from FATCA Withholding, and the extent to which the relevant payment
is so treated, provided, however, that the Issuer’s obligation under this paragraph shall apply only to the extent that such
payments are so treated by virtue of characteristics of the Issuer, the Notes, or both.

 

(c)          Paying
Agent’s Right to Withhold. Notwithstanding any other provision of this Indenture, the Paying Agent shall be entitled
to make a deduction or withholding from any payment which it makes under the Notes for or on account of any Tax, if and only to
the extent so required by Applicable Law. If such a deduction or withholding is required, neither the Paying Agent nor the Trustee
will be obligated to pay any Additional Amount to the recipient unless such an Additional Amount is received by the Paying Agent
or the Trustee in accordance with the Indenture.

 

(d)          For
the purposes of this Section 4.25, defined terms used herein shall have the following meanings:

 

(1)         “Applicable
Law” means any law or regulation including, but not limited to: (i) any statute or regulation; (ii) any rule or practice
of any Authority by which any party is bound or with which it is accustomed to comply; (iii) any agreement between any Authorities;
and (iv) any customary agreement between any Authority and any party;

 

(2)         “Authority”
means any competent regulatory, prosecuting, Tax or governmental authority in any jurisdiction;

 

(3)         “Code”
means the U.S. Internal Revenue Code of 1986, as amended;

 

(4)         “FATCA
Withholding” means any withholding or deduction required pursuant to an agreement described in section 1471(b) of the
Code, or otherwise imposed pursuant to sections 1471 through 1474 of the Code, any regulations or agreements thereunder, any official
interpretations thereof, or any law implementing an intergovernmental approach thereto;

 

(5)         “Tax”
means any present or future taxes, duties, assessments or governmental charges of whatever nature imposed, levied, collected, withheld
or assessed by or on behalf of any Authority having power to tax.

 

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Article
5

Successors

 

Section 5.01         Merger,
consolidations and certain sales of assets of the Issuer.

 

(a)          The
Issuer may not, in a single transaction or a series of related transactions, (i) consolidate with or merge into any other
Person, or (ii) directly or indirectly, convey, transfer, sell, lease or otherwise dispose of all or substantially all of the its
assets to any other Person, unless:

 

(1)         Either
(i) the Issuer is the surviving corporation; or (ii) the Person formed by or surviving any such consolidation or merger (if other
than the Issuer) or to which such sale, assignment, transfer, conveyance or other disposition has been made,

 

(A)         shall
expressly assume, by a supplemental indenture executed and delivered to the Trustee in form reasonably satisfactory to the Trustee,
all of the Issuer’s obligations under this Indenture and,

 

(B)         is
organized under the laws of any member state of the European Union, Norway, Switzerland, Canada, Jersey, Guernsey, Mauritius, Cayman
Islands, British Virgin Islands, any state of the United States of America or the District of Columbia;

 

(2)         immediately
after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing;

 

(3)         with
respect to a consolidation, merger, conveyance, transfer, sale, lease or other disposal of the Issuer, immediately after giving
effect to such transaction and treating any Debt which becomes the Issuer’s or any of its Restricted Subsidiaries’
obligation, as applicable, or that of the Person formed by or surviving any such consolidation or merger (if other than the Issuer),
as a result of such transaction as having been Incurred at the time of the transaction, (x) the Issuer (including any successor
Person) could Incur at least $1.00 of additional Debt pursuant to Section 4.09(a) hereof or (y) the Net Leverage Ratio would not
be greater than such ratio immediately prior to giving effect to such transaction; provided, however, that this clause
(3) will not apply if, in the good faith determination of the Issuer’s Board of Directors the principal purpose of such transaction
is to change the Issuer’s jurisdiction of incorporation; and

 

(4)         the
Issuer delivers to the Trustee an Officer’s Certificate stating that such consolidation, merger or transfer and such supplemental
indenture comply with this Section 5.01.

 

Section 5.02         Successor
Corporation Substituted.

 

Upon any consolidation
or merger in which the Issuer is not the continuing corporation or any transfer (excluding any lease) of all or substantially all
of the assets of the Issuer, in accordance with Section 5.01 hereof, the successor Person shall succeed to, and be substituted
for, and may exercise every right and power of the Issuer under this Indenture with the same effect as if such successor Person
had been named as such; provided, however, that the predecessor Issuer shall not be relieved from the obligation
to pay the principal of, premium on, if any and interest, if any, on the Notes except in the case of a sale of all of the Issuer’s
assets in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof.

 

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Article
6

Defaults
and Remedies

 

Section 6.01         Events
of Default.

 

The following will
be “Events of Default” under this Indenture:

 

(1)         failure
to pay principal of, or premium, if any, on, any Note when due (at maturity, upon redemption or otherwise);

 

(2)         failure
to pay any interest (including Additional Amounts) on any Note when due, which failure continues for 30 days;

 

(3)         default
in the payment of principal and interest on Notes required to be purchased pursuant to an Offer to Purchase under Sections 4.15
and 4.10 hereof when due and payable;

 

(4)         failure
to perform or comply with the provisions of Section 5.01 hereof;

 

(5)         failure
of the Issuer to perform any other of its covenants or agreements under this Indenture or the Notes, which failure continues for
60 days after written notice to the Issuer by the Trustee or Holders of at least 25% in aggregate principal amount of Outstanding
Notes;

 

(6)         default
under the terms of any instrument evidencing or securing Debt for money borrowed by the Issuer or any of its Restricted Subsidiaries,
if that default:

 

(A)         results
in the acceleration of the payment of such Debt prior to its Stated Maturity; or

 

(B)         is
caused by the failure to pay such Debt at its Stated Maturity after giving effect to the expiration of any applicable grace periods
(and other than by regularly scheduled required prepayment) and such failure to make any payment has not been waived or the Stated
Maturity of such Debt has not been extended,

 

and, in each case, the outstanding
principal amount of any such Debt under which there has been a failure to pay at Stated Maturity thereof or the payment of which
has been so accelerated, aggregates $100 million or more;

 

(7)         failure
by the Issuer or any of its Restricted Subsidiaries to pay final judgments entered by a court or courts of competent jurisdiction
aggregating in excess of $100 million (exclusive of any amounts that a solvent insurance company has acknowledged liability for),
which judgments shall not have been discharged or waived and there shall have been a period of 60 consecutive days during which
a stay of enforcement of such judgment or order, by reason of an appeal, waiver or otherwise, shall not have been in effect;

 

(8)         the
Issuer or any of its Significant Subsidiaries or group of Subsidiaries that, taken together, would constitute a Significant Subsidiary
pursuant to or within the meaning of Bankruptcy Law:

 

(A)         commences
a voluntary case;

 

(B)         consents
to the entry of an order for relief against it in an involuntary case;

 

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(C)         consents
to the appointment of a custodian or administrator of it or for all or substantially all of its property;

 

(D)         makes
a general assignment for the benefit of its creditors;

 

(E)         admits
in writing its inability to pay its debts generally as they become due; or

 

(9)         a
court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 

(A)         is
for relief against the Issuer, or any Significant Subsidiary or group of Subsidiaries that, taken together, would constitute a
Significant Subsidiary in an involuntary case;

 

(B)         appoints
a custodian or administrator of the Issuer, or any Significant Subsidiary or group of Significant Subsidiaries that, taken together,
would constitute a Significant Subsidiary or for all or substantially all of the property of the Issuer or any Significant Subsidiary
or group of Significant Subsidiaries that, taken together, would constitute a Significant Subsidiary; or

 

(C)         orders
the liquidation of the Issuer, or any Significant Subsidiary or group of Significant Subsidiaries that, taken together, would constitute
a Significant Subsidiary, and the order or decree remains unstayed and in effect for 60 consecutive days.

 

Section 6.02         Acceleration.

 

If an Event of Default
specified in clause (8) or (9) of Section 6.01 hereof shall occur, the maturity of all Outstanding Notes shall automatically be
accelerated and the principal amount of the Notes, together with any premium, accrued interest or Additional Amounts thereon, shall
be immediately due and payable. If any other Event of Default shall occur and be continuing, the Trustee or the Holders of not
less than 25% of the aggregate principal amount of the Notes then Outstanding may, by written notice to the Issuer (and to the
Trustee if given by Holders), declare the principal amount of the Notes, together with accrued interest thereon, immediately due
and payable. The right of the Holders to give such acceleration notice shall terminate if the event giving rise to such right shall
have been cured before such right is exercised. Any such declaration may be annulled and rescinded by written notice from the Trustee
or the Holders of a majority of the aggregate principal amount of the Notes then Outstanding to the Issuer if all amounts then
due with respect to the Notes are paid (other than amount due solely because of such declaration) and all other defaults with respect
to the Notes are cured.

 

Section 6.03         Other
Remedies.

 

If an Event of Default
occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal of (and premium or Additional
Amounts, if any) or interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture.

 

The Trustee may
maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or
omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the
right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted
by law.

 

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Section 6.04         Waiver
of Past Defaults.

 

Subject to certain
rights of the Trustee, as provided in this Indenture, the Holders of a majority in aggregate principal amount of the Outstanding
Notes, on behalf of all Holders of the Notes, may waive any past default under this Indenture, except a default in the payment
of principal, premium or interest or a default arising from failure to purchase any Note tendered pursuant to an Offer to Purchase;
provided that the Holders of a majority in aggregate principal amount of the then Outstanding Notes may rescind an acceleration
and its consequences, including any related payment default that resulted from such acceleration. Upon any such waiver, such Default
shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture;
but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

 

Section 6.05         Control
by Majority.

 

The Holders of a
majority in aggregate principal amount of the Outstanding Notes will 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, provided
that the Trustee may refuse to follow any direction that conflicts with law, this Indenture or that the Trustee determines in good
faith may be unduly prejudicial to the rights of Holders not joining in the giving of such direction or that may involve the Trustee
in personal liability. The Trustee may withhold from Holders of the Notes notice of any continuing Default or Event of Default
if it determines that withholding notice is in their interest, except in a Default or Event of Default relating to the payment
of principal of (and premium or Additional Amounts, if any) or interest on the Notes, to the extent such action does not conflict
with the provisions of this Indenture or applicable law.

 

Section 6.06         Limitation
on Suits.

 

Subject to Section
7.01 hereof, in case an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of its
rights or powers under this Indenture at the request or direction of any Holders, unless such Holders have offered to the Trustee
indemnity and/or security satisfactory to it. The Holders of a majority in aggregate principal amount of the Outstanding Notes
will 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, to the extent such action does not conflict with the provisions of this
Indenture or applicable law.

 

No Holder of any
Note will have any right to institute any proceeding with respect to this Indenture or the Notes or for any remedy thereunder,
unless:

 

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

 

(2)         the
Holders of at least 25% in aggregate principal amount of the Outstanding Notes shall have made a written request to the Trustee
to institute proceedings in respect of such Event of Default in its own name as Trustee;

 

(3)         such
Holder or Holders have offered to the Trustee indemnity and/or security satisfactory to it against any loss, liability or expense
arising in connection with such proceeding;

 

(4)         the
Trustee for 60 days after receipt of such notice has failed to institute any such proceeding; and

 

(5)         no
direction inconsistent with such request shall have been given to the Trustee during such 60 day-period by the Holders of a majority
in principal amount of the Outstanding Notes. However, such limitations do not apply to a suit individually instituted by a Holder
of a Note for enforcement of payment of the principal of, or interest on, such Note on or after respective due dates expressed
in such Note.

 

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A Holder may not
use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder. The Trustee
shall have no obligation to ascertain whether the Holder’s actions are unduly prejudicial to other Holders.

 

Section 6.07         Right
of Holders of Notes to Receive Payment.

 

Notwithstanding
any other provision of this Indenture, the right of any Holder to receive payment of principal of (and premium or Additional Amounts,
if any) or interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer
to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired
or affected without the consent of Holders of not less than 90% in aggregate principal amount of the Notes; provided that
a Holder shall not have the right to institute any such suit for the enforcement of payment if and to the extent that the institution
or prosecution thereof or the entry of judgment therein would, under applicable law, result in the surrender, impairment, waiver
or loss of the Lien of this Indenture upon any property subject to such Lien.

 

Section 6.08         Collection
Suit by Trustee.

 

Subject to mandatory
provisions of Luxembourg insolvency laws, if an Event of Default specified in Section 6.01(1) or Section 6.01(2) hereof occurs
and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the
Issuer for the whole amount of principal of, premium on, if any, interest and Additional Amounts, if any, remaining unpaid on,
the Notes and interest on overdue principal and, to the extent lawful, Additional Amounts, interest and such further amount as
shall be sufficient to cover the costs and expenses of collection, including the compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel.

 

Section 6.09         Trustee
May File Proofs of Claim.

 

The Trustee is authorized
to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for the compensation, expenses, disbursements and advances of the Trustee, its agents and counsel)
and the Holders allowed in any judicial proceedings relative to the Issuer or any other obligor upon the Notes, their creditors
or property and shall be entitled and empowered, subject to mandatory provisions of Luxembourg insolvency laws, to collect, receive
and distribute any money or other property payable or deliverable on any such claims and any custodian in any such judicial proceeding
is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the
making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof. To the extent
that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any
other amounts due the Trustee under Section 7.07 hereof out of the estate in any such proceeding, shall be denied for any reason,
payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities
and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of
reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent
to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the
Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

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Section 6.10         Priorities.

 

If the Trustee collects
any money pursuant to this Article 6, it shall pay out the money in the following order:

 

First:to
the Trustee, its agents and attorneys for amounts due under Section 7.07 hereof, including payment of all compensation, expenses
and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection and then the Agents for
any amounts due;

 

Second:to
Holders for amounts due and unpaid on the Notes for principal, premium, if any, interest and Additional Amounts, if any, ratably,
without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any,
interest and Additional Amounts, if any, respectively; and

 

Third:to
the Issuer or to such party as a court of competent jurisdiction shall direct.

 

The Trustee may
fix a record date and payment date for any payment to Holders pursuant to this Section 6.10.

 

Section 6.11         Undertaking
for Costs.

 

In any suit for
the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay
the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees,
against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party
litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07 hereof, or a suit
by Holders of more than 10% in aggregate principal amount of the then Outstanding Notes.

 

Section 6.12         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 in a final judgment adversely to the Trustee or to such Holder, then and in
every such case, subject to any determination in such proceeding, the Issuer, the Trustee and the Holders shall be restored severally
and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall
continue as though no such proceeding had been instituted.

 

Section 6.13         Rights
and Remedies Cumulative.

 

Except as otherwise
provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in Section 2.07 hereof, no right
or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or
remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and
remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion of any right or remedy hereunder,
or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section 6.14         Delay
or Omission Not Waiver.

 

No delay or omission
of the Trustee or any Holder to exercise any right or remedy accruing upon any Event of Default shall impair any such right or
remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article
6 or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the
Trustee or by the Holders, as the case may be.

 

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Article
7

Trustee

 

Section 7.01         Duties
of Trustee.

 

(a)          If
an Event of Default of which a Responsible Officer of the Trustee has actual knowledge has occurred and is continuing, the Trustee
will exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise,
as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.

 

(b)          Except
during the continuance of an Event of Default of which a Responsible Officer of the Trustee has actual knowledge:

 

(1)         the
duties of the Trustee and the Agents will be determined solely by the express provisions of this Indenture and the Trustee and
the Agents need perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants
or obligations shall be read into this Indenture against the Trustee or the Agents; 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. However, the Trustee will examine the certificates and opinions to determine whether or not they conform to the
requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated
therein).

 

(c)          The
Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that:

 

(1)         this
paragraph (c) does not limit the effect of paragraph (b) of this Section 7.01;

 

(2)         the
Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the
Trustee was negligent in ascertaining the pertinent facts; and

 

(3)         the
Trustee will not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received
by it pursuant to Sections 6.02, 6.04 or 6.05 hereof.

 

(d)          Whether
or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs
(a), (b), and (c) of this Section 7.01.

 

(e)          No
provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability. The Trustee will be
under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such Holder
has offered to the Trustee security and indemnity satisfactory to it against any loss, liability or expense.

 

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

 

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(g)          The
Trustee shall not be deemed to have notice or any knowledge of any matter (including without limitation Defaults or Events of Default)
unless a Responsible Officer assigned to and working in the Trustee’s corporate trust department has actual knowledge thereof
or unless written notice thereof is received by the Trustee (attention: Trust & Securities Services) and such notice clearly
references the Notes, the Issuer and this Indenture.

 

Section 7.02         Rights
of Trustee.

 

(a)          The
Trustee may conclusively rely, and shall be protected in acting or refraining from acting, upon any document believed by it to
be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated
in the document.

 

(b)          Before
the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel or both. The Trustee
will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion
of Counsel, as the case may be. The Trustee may consult with counsel or other professional advisors and the written advice of such
counsel, professional advisor or any Opinion of Counsel will be full and complete authorization and protection from liability in
respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon.

 

(c)          The
Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any attorney or
agent appointed with due care.

 

(d)          The
Trustee will not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within the
rights or powers conferred upon it by this Indenture provided that the Trustee’s conduct does not constitute negligence
or bad faith.

 

(e)          Unless
otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Issuer will be sufficient
if signed by an Officer of the Issuer.

 

(f)          The
Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction
of any of the Holders unless such Holders have offered to the Trustee indemnity and/or security satisfactory to it against the
losses, liabilities and expenses that might be incurred by it in compliance with such request or direction.

 

(g)          The
Trustee shall have no duty to inquire as to the performance of the covenants of the Issuer and/or its Subsidiaries. In addition,
the Trustee shall not be deemed to have knowledge of any Default or Event of Default except: (i) any Event of Default occurring
pursuant to Section 6.01(1) or Section 6.01(2) (provided it is acting as Paying Agent); and (ii) any Default or Event of Default
of which a Responsible Officer shall have received written notification. Delivery of reports, information and documents to the
Trustee under Section 4.03 hereof is for informational purposes only and the Trustee’s receipt of the foregoing shall not
constitute actual or constructive notice of any information contained therein or determinable from information contained therein,
including the Issuer’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively
on Officer’s Certificates).

 

(h)          The
Trustee shall not have any obligation or duty to monitor, determine or inquire as to compliance, and shall not be responsible or
liable for compliance with restrictions on transfer, exchange, redemption, purchase or repurchase, as applicable, of minimum denominations
imposed under this Indenture or under applicable law or regulation with respect to any transfer, exchange, redemption, purchase
or repurchase, as applicable, of any interest in any Notes, but may at its sole discretion choose to do so.

 

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(i)          The
rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified and/or secured
under this Indenture, are extended to, and shall be enforceable by the Trustee in each of its capacities hereunder and by each
agent (including the Agents), custodian and other person employed to act hereunder. Absent willful misconduct or negligence, each
Agent shall not be liable for acting in good faith on instructions believed by it to be genuine and from the proper party and no
Agent shall be under any fiduciary duty or other obligation towards or have any relationship of agency and trust for or with any
person other than the Issuer.

 

(j)          In
the event the Trustee or any Agent receives conflicting, unclear or equivocal instructions, the Trustee or Agent shall be entitled
to not take any action until such instructions have been resolved or clarified to its satisfaction and the Trustee or Agent shall
not become liable in any way to any person for any failure to comply with any such conflicting, unclear or equivocal instruction.

 

(k)          In
the event the Trustee receives inconsistent or conflicting requests and indemnity from two or more groups of Holders, each representing
less than a majority in aggregate principal amount of the Notes then Outstanding, pursuant to the provisions of this Indenture,
the Trustee, in its sole discretion, may determine what action, if any, will be taken and shall not incur any liability for its
failure to act until such inconsistency or conflict is, in its reasonable opinion, resolved.

 

(l)          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 acts of war or terrorism involving the United States, the United Kingdom or any member state of the European
Monetary Union or any other national or international calamity or emergency (including natural disasters or acts of God), 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.

 

(m)          The
Trustee is not required to give any bond or surety with respect to the performance or its duties or the exercise of its powers
under this Indenture or the Notes.

 

(n)          The
permissive right of the Trustee to take the actions permitted by this Indenture shall not be construed as an obligation or duty
to do so.

 

(o)          The
Trustee will not be liable to any person if prevented or delayed in performing any of its obligations or discretionary functions
under this Indenture by reason of any present or future law applicable to it, by any governmental or regulatory authority or by
any circumstances beyond its control.

 

(p)          The
Trustee shall not under any circumstances be liable for any indirect loss, punitive or special damages or consequential loss (being
loss of business, goodwill, opportunity or profit of any kind) of the Issuer or any other Person (or, in each case, any successor
thereto), even if advised of it in advance and even if foreseeable.

 

(q)          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 Issuer personally or by agent or attorney.

 

(r)          The
Trustee may request that the Issuer deliver an Officer’s Certificate setting forth the names of the individuals and/or titles
of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may
be signed by any person authorized to sign an Officer’s Certificate, including any person specified as so authorized in any
such certificate previously delivered and not superseded.

 

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(s)          No
provision of this Indenture shall require the Trustee to do anything which, in its opinion, may be illegal or contrary to applicable
law or regulation.

 

(t)          The
Trustee may refrain from taking any action in any jurisdiction if the taking of such action in that jurisdiction would, in its
opinion (based upon legal advice in the relevant jurisdiction), be contrary to any law of that jurisdiction or, to the extent applicable,
the State of New York.

 

(u)          The
Trustee may retain professional advisors to assist it in performing its duties under this Indenture. The Trustee may consult with
such professional advisors or with counsel, and the advice or opinion of such professional advisors or counsel with respect to
legal or other matters relating to this Indenture and the Notes shall be full and complete authorization and protection from liability
in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion
of such counsel.

 

(v)         The
Trustee may assume without inquiry in the absence of actual knowledge that the Issuer is duly complying with its obligations contained
in this Indenture required to be performed and observed by it, and that no Default or Event of Default or other event which would
require repayment of the Notes has occurred.

 

Section 7.03         Individual
Rights of Trustee.

 

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

 

Section 7.04         Trustee’s
Disclaimer.

 

The Trustee will
not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, except that the
Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Notes and perform its obligations
hereunder. The Trustee shall not be accountable for the Issuer’s use of the proceeds from the Notes or any money paid to
the Issuer or upon the Issuer’s direction under any provision of this Indenture, it will not be responsible for the use or
application of any money received by any Paying Agent other than the Trustee, and it will not be responsible for any statement
or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this
Indenture other than its certificate of authentication.

 

Section 7.05         Notice
of Defaults.

 

If a Default or
Event of Default occurs and is continuing and if it is known to the Trustee, the Trustee will mail to Holders a notice of the Default
or Event of Default within 90 days after it occurs. Except in the case of a Default in payment of principal of, premium on, if
any, interest or Additional Amounts, if any, on any Note, the Trustee may withhold notice if and for so long as it determines that
withholding notice is in the interest of Holders.

 

Section 7.06         [Reserved].

 

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Section 7.07         Compensation
and Indemnity.

 

(a)          The
Issuer will pay to the Trustee and the Agents from time to time compensation for its acceptance of this Indenture and services
hereunder as shall be agreed from time to time between them. The Trustee’s compensation will not be limited by any law on
compensation of a trustee of an express trust. The Issuer will reimburse the Trustee promptly upon request for all disbursements,
advances and expenses properly incurred or made by it in addition to the compensation for its services. Such expenses will include
the properly incurred compensation, disbursements and expenses of the Trustee’s agents and counsel.

 

(b)          The
Issuer will indemnify the Trustee, its officers, directors, employees and agents against any and all documented claims, losses,
liabilities or expenses incurred by it arising out of or in connection with the acceptance or administration of its duties under
this Indenture, including the costs and expenses of enforcing this Indenture against the Issuer (including this Section 7.07) and
defending itself against any claim (whether asserted by the Issuer, any Holder or any other Person) or liability in connection
with the exercise or performance of any of its powers or duties hereunder, except to the extent any such loss, liability or expense
may be attributable to its negligence, willful misconduct or bad faith. Notwithstanding the foregoing, the Issuer shall not be
liable for any indirect loss, punitive or special damages or consequential loss (being loss of business, goodwill, opportunity
or profit of any kind) of the Trustee or any other Person (or, in each case, any successor thereto), even if advised of it in advance
and even if foreseeable. The Trustee will notify the Issuer promptly of any claim for which it may seek indemnity. Failure by the
Trustee to so notify the Issuer will not relieve the Issuer of its obligations hereunder. In case any such claim shall be brought
against the Trustee, the Trustee may elect to defend the claim and shall promptly notify the Issuer of its intent to do so, provided
that the Trustee and its counsel shall proceed with diligence and good faith with respect thereto, and the Issuer shall be entitled
to participate therein. In the event of any disagreement between the Trustee and the Issuer in relation to the conduct of the claim,
other than disagreements concerning the Trustee’s failure to promptly assume the defense and employ counsel, the Trustee’s
decision shall be final. The Trustee may have separate counsel and the Issuer shall pay the properly incurred fees and expenses
of such counsel. If the Trustee does not assume the defense of such claim, the Issuer may defend the claim, the Trustee shall cooperate
in such defense and the Issuer shall not be liable to the Trustee for any legal expenses of other counsel or any other expenses,
in each case subsequently incurred by the Trustee, in connection with the defense thereof unless the immediately following sentence
applies. If the interests of the Issuer, on the one hand, and the Trustee, on the other hand, may be adverse, the Trustee may have
a single separate counsel and the Issuer will pay the properly incurred fees and expenses of such counsel. The Issuer need not
pay for any settlement made without its written consent, which consent will not be unreasonably withheld.

 

(c)          The
obligations of the Issuer under this Section 7.07 will survive the satisfaction and discharge of this Indenture.

 

(d)          To
secure the Issuer’s payment obligations in this Section 7.07, the Trustee will have a Lien prior to the Notes on all money
or property held or collected by the Trustee, except that held in trust to pay principal of, premium on, if any, interest or Additional
Amounts, if any, on, particular Notes. Such Lien will survive the satisfaction and discharge of this Indenture.

 

(e)          When
the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(9) hereof occurs, the expenses
and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses
of administration under any Bankruptcy Law.

 

(f)          The
rights, privileges, protections, immunities and benefits to the Trustee in this Article 7, including, without limitation, its rights
to be compensated, reimbursed for expenses and indemnified, are extended to, and shall be enforceable by, each Agent.

 

(g)          The
indemnity contained in this Section 7.07 shall survive the discharge or termination of this Indenture and shall continue for the
benefit of the Trustee or an Agent notwithstanding its resignation or retirement.

 

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Section 7.08         Replacement
of Trustee.

 

(a)          A
resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s
acceptance of appointment as provided in this Section 7.08.

 

(b)          The
Trustee may resign in writing at any time without giving reason and be discharged from the trust hereby created by so notifying
the Issuer. The Holders of a majority in aggregate principal amount of the then Outstanding Notes may remove the Trustee by so
notifying the Trustee and the Issuer in writing. The Issuer may remove the Trustee if:

 

(1)         the
Trustee fails to comply with Section 7.10 hereof;

 

(2)         the
Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy
Law;

 

(3)         a
custodian or public officer takes charge of the Trustee or its property; or

 

(4)         the
Trustee becomes incapable of acting.

 

(c)          If
the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuer will promptly appoint
a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal
amount of the then Outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer.

 

(d)          If
a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, (i) the retiring Trustee,
the Issuer, or the Holders of at least 10% in aggregate principal amount of the then Outstanding Notes may petition any court of
competent jurisdiction for the appointment of a successor Trustee or (ii) the retiring Trustee may appoint a successor Trustee
at any time prior to the date on which a successor Trustee takes office, provided that such appointment shall be with the
consent of the Issuer (not to be unreasonably withheld or delayed).

 

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

 

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

 

(g)          For
the purposes of this Section 7.08, the Issuer hereby expressly accepts and confirms, for the purposes of Articles 1278 and 1281
of the Luxembourg Civil Code that, notwithstanding any assignment, transfer and/or novation permitted under, and made in accordance
with the provisions of this Indenture or any agreement referred to herein to which the Issuer is a party, any security created
or guarantee given under this Indenture shall be preserved for the benefit of the successor trustee (for itself and the secured
parties) and, for the avoidance of doubt, for the benefit of each of the secured parties.

 

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Section 7.09         Successor
Trustee by Merger, etc.

 

If the Trustee consolidates,
merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor
corporation without any further act will be the successor Trustee.

 

Section 7.10         Eligibility;
Disqualification.

 

There will at all
times be a Trustee hereunder that is a corporation organized and doing business under the laws of England and Wales or the United
States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject
to supervision or examination by any England and Wales authority or any federal or state authorities and that has a combined capital
and surplus of at least $50.0 million as set forth in its most recent published annual report of condition.

 

Section 7.11         Agents.

 

Resignation of
Agents. Any Agent may resign and be discharged from its duties under this Indenture at any time by giving thirty (30) days’
prior written notice of such resignation to the Trustee and Issuer. The Trustee or Issuer may remove any Agent at any time by giving
thirty (30) days’ prior written notice to any Agent. Upon such notice, a successor Agent shall be appointed by the Issuer,
who shall provide written notice of such to the Trustee. Such successor Agent shall become the Agent hereunder upon the resignation
or removal date specified in such notice. If the Issuer is unable to replace the resigning Agent within thirty (30) days after
such notice, the Agent may, in its sole discretion, deliver any funds then held hereunder in its possession to the Trustee or may
appoint a replacement agent on behalf of the Issuer, provided that such appointment shall be with the consent of the Issuer
(not to be unreasonably withheld or delayed), or may apply to a court of competent jurisdiction for the appointment of a successor
Agent or for other appropriate relief. The costs and expenses (including its counsels’ fees and expenses) incurred by the
Agent in connection with such proceeding shall be paid by the Issuer. Upon receipt of the identity of the successor Agent, the
Agent shall deliver any funds then held hereunder to the successor Agent, less the Agent’s fees, costs and expenses or other
obligations owed to the Agent. Upon its resignation and delivery any funds, the Agent shall be discharged of and from any and all
further obligations arising in connection with this Indenture, but shall continue to enjoy the benefit of Section 7.07 hereof.

 

Article
8

Legal
Defeasance and Covenant Defeasance

 

Section 8.01         Option
to Effect Legal Defeasance or Covenant Defeasance.

 

The Issuer may at
any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officer’s Certificate, elect
to have either Section 8.02 or 8.03 hereof be applied to all Outstanding Notes upon compliance with the conditions set forth below
in this Article 8.

 

Section 8.02         Legal
Defeasance and Discharge.

 

Upon the Issuer’s
exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Issuer will, subject to the satisfaction
of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from their obligations with respect to all
Outstanding Notes on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”).
For this purpose, Legal Defeasance means that the Issuer will be deemed to have paid and discharged the entire Debt represented
by the Outstanding Notes, which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.05
hereof and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied all their other
obligations under such Notes and this Indenture (and the Trustee, on demand of and at the expense of the Issuer, shall execute
proper instruments acknowledging the same), except for the following provisions which will survive until otherwise terminated or
discharged hereunder:

 

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(1)         the
rights of Holders of Outstanding Notes to receive payments in respect of the principal of, interest (including Additional Amounts)
or premium, if any, on, such Notes when such payments are due from the trust referred to in Section 8.04 hereof;

 

(2)         the
Issuer’s obligations with respect to the Notes under Article 2 and Section 4.02 hereof;

 

(3)         the
rights, powers, trusts, duties and immunities of the Trustee hereunder and the Issuer’s obligations in connection therewith;
and

 

(4)         the
Legal Defeasance provisions of this Article 8.

 

Subject to compliance
with this Article 8, the Issuer may exercise its option under this Section 8.02 notwithstanding the prior exercise of its option
under Section 8.03 hereof.

 

Section 8.03         Covenant
Defeasance.

 

Upon the Issuer’s
exercise under Section 8.01 hereof of the option applicable to this Section 8.03, the Issuer will, subject to the satisfaction
of the conditions set forth in Section 8.04 hereof, be released from each of its obligations under the covenants contained in Sections
4.09, 4.10, 4.12, 4.13, 4.15 hereof and clause (4) of Section 5.01(a) hereof with respect to the Outstanding Notes on and after
the date the conditions set forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant Defeasance”),
and the Notes will thereafter be deemed not “Outstanding” for the purposes of any direction, waiver, consent or declaration
or act of Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed “Outstanding”
for all other purposes hereunder (it being understood that such Notes will not be deemed Outstanding for accounting purposes).
For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Issuer may omit to comply with and
will have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly,
by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other
provision herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under
Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes will be unaffected thereby.
In addition, upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, subject
to the satisfaction of the conditions set forth in Section 8.04 hereof, Section 6.01(3), (4), (5), (6), (7) and (8) hereof will
not constitute Events of Default.

 

Section 8.04         Conditions
to Legal or Covenant Defeasance.

 

In order to exercise
either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03 hereof:

 

(1)         the
Issuer must irrevocably deposit with the Trustee (or such other entity designated or appointed (as agent) by it for such purpose),
in trust, for the benefit of the Holders of the Notes, cash in U.S. Dollars, non-callable Government Securities, or a combination
of cash in U.S. Dollars and non-callable Government Securities, in each case, in amounts as will be sufficient, in the opinion
of an internationally recognized investment bank, appraisal firm or firm of independent public accountants, to pay the principal
of, or interest (including Additional Amounts and premium, if any) on the Outstanding Notes on their Stated Maturity or on the
applicable redemption date, as the case may be, and the Issuer must specify whether the Notes are being defeased to such stated
date for payment or to a particular redemption date;

 

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(2)         in
the case of an election under Section 8.02 hereof, the Issuer must deliver to the Trustee an opinion of U.S. counsel in terms reasonably
acceptable to the Trustee confirming that:

 

(A)         the
Issuer has received from, or there has been published by, the U.S. Internal Revenue Service a ruling; or

 

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

 

in either case to the effect
that, and based thereon such Opinion of Counsel will confirm that, the beneficial owners of the Outstanding Notes will not recognize
income, gain or loss for U.S. federal income tax purposes as a result of such Legal Defeasance and will be subject to U.S. federal
income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had
not occurred;

 

(3)         in
the case of an election under Section 8.03 hereof, the Issuer must deliver to the Trustee an opinion of U.S. counsel in terms reasonably
acceptable to the Trustee confirming that the beneficial owners of the Outstanding Notes will not recognize income, gain or loss
for U.S. federal income tax purposes as a result of such Covenant Defeasance and will be subject to U.S. federal income tax on
the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

 

(4)         the
Issuer must deliver to the Trustee an Officer’s Certificate stating that the deposit was not made by the Issuer with the
intent of preferring the Holders of Notes over the other creditors of the Issuer with the intent of defeating, hindering, delaying
or defrauding any creditors of the Issuer or others; and

 

(5)         the
Issuer must deliver to the Trustee an Officer’s Certificate and an opinion of counsel, subject to customary assumptions and
qualifications, each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been
complied with.

 

Section 8.05         Deposited
Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions.

 

Subject to Section
8.06 hereof, all cash in U.S. Dollars and non-callable U.S. Government Securities (including the proceeds thereof) deposited with
the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant
to Section 8.04 hereof in respect of the Outstanding Notes will be held in trust and applied by the Trustee, in accordance with
the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer
acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in
respect of principal, premium, if any, interest and Additional Amounts, if any, but such money need not be segregated from other
funds except to the extent required by law.

 

The Issuer will
pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or the non-callable
U.S. Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof
other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Notes.

 

Notwithstanding
anything in this Article 8 to the contrary, the Trustee will deliver or pay to the Issuer from time to time upon the request of
the Issuer any cash in U.S. Dollars or non-callable U.S. Government Securities held by it as provided in Section 8.04 hereof which,
in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered
to the Trustee (which may be the opinion delivered under Section 8.04(1) hereof), are in excess of the amount thereof that would
then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

 

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Section 8.06         Repayment
to Issuer.

 

Any money deposited
with the Trustee or any Paying Agent, or then held by the Issuer in trust, for the payment of the principal of, premium on, if
any, interest or Additional Amounts, if any, on, any Note and remaining unclaimed for two years after such principal, premium,
if any, interest or Additional Amounts, if any, has become due and payable shall be paid to the Issuer on its request or (if then
held by the Issuer) will be discharged from such trust; and the Holder of such Note will thereafter be permitted to look only to
the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such money, and all liability
of the Issuer as trustee thereof, will thereupon cease; provided, however, that in the event the Notes are in the
form of Definitive Registered Notes, the Trustee or such Paying Agent, before being required to make any such repayment, may at
the expense of the Issuer cause to be made available to the newswire service of Bloomberg or, if Bloomberg does not operate, any
similar agency and, if and so long as the Notes are listed on the Official List of the Luxembourg Stock Exchange and admitted to
trading on the Euro MTF Market and the rules of the Luxembourg Stock Exchange so require, to the extent and in the manner permitted
by such rules, posted on the official website of the Luxembourg Stock Exchange (www.bourse.lu) or mail to each Holder entitled
to such money at such Holder’s address (as set forth in the Register) notice that such money remains unclaimed and that,
after a date specified therein, which will not be less than 30 days from the date of such notification or publication, any unclaimed
balance of such money then remaining will be repaid to the Issuer.

 

Section 8.07         Reinstatement.

 

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

 

Article
9

Amendment,
Supplement and Waiver

 

Section 9.01         Without
Consent of Holders.

 

Notwithstanding
Section 9.02 hereof, the Issuer, the Issuer and the Trustee may, without the consent of the Holders of the Notes, amend, waive
or supplement the Escrow Agreement, this Indenture or the Notes:

 

(1)         to
cure any ambiguity, defect or inconsistency;

 

(2)         to
provide for the assumption of the Issuer’s obligations to the Holders of the Notes in the case of a merger or consolidation
or sale of all or substantially all of the Issuer’s assets pursuant to Article 5 hereof;

 

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(3)         to
make any change that would provide any additional rights or benefits to the Holders or that does not adversely affect the legal
rights under this Indenture of any such Holder in any material respect;

 

(4)         to
conform the text of this Indenture, or the Notes to any provision of the “Description of the Notes” section of the
Offering Memorandum to the extent that such provision in such “Description of the Notes” section was intended to be
a verbatim recitation of a provision of this Indenture or the Notes;

 

(5)         to
provide for the issuance of Additional Notes in accordance with the limitations set forth in this Indenture as of the Issue Date;

 

(6)         to
provide for uncertificated Notes in addition to or in place of certificated Notes (provided that the uncertificated Notes
are issued in registered form for purposes of Section 169(f) of the Code, or in a manner such that the uncertificated Notes
are described in Section 163(f)(2)(B) of the Code);

 

(7)         to
evidence and provide the acceptance of the appointment of a successor Trustee under this Indenture; or

 

(8)         to
allow the provision of Guarantees with respect to the Notes.

 

In formulating its
opinion on such matters, the Trustee shall be entitled to request and rely absolutely on such evidence as it deems appropriate,
including an Opinion of Counsel and an Officer’s Certificate.

 

Upon the request
of the Issuer accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental
indenture, and upon receipt by the Trustee of the documents described in Section 7.02 and Section 14.03 hereof, the Trustee will
join with the Issuer in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture
and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee will not be obligated
to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this Indenture or
otherwise.

 

Section 9.02         With
Consent of Holders.

 

Except as provided
below in this Section 9.02, the Issuer and the Trustee may amend or supplement this Indenture (including, without limitation Section
3.12, Section 4.10 and Section 4.15 hereof), the Escrow Agreement or the Notes with the consent of the Holders of at least a majority
in aggregate principal amount of the then Outstanding Notes (including, without limitation, Additional Notes, if any) voting as
a single class (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange
offer for, the Notes), and, subject to Section 6.04 and Section 6.07 hereof, any existing Default or Event of Default (other than
a Default or Event of Default in the payment of the principal of, premium on, if any, interest or Additional Amounts, if any, on,
the Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of
this Indenture, the Notes may be waived with the consent of the Holders of a majority in aggregate principal amount of the then
Outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class (including, without limitation,
consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes); provided that if any
amendment, waiver or other modification will only affect one series of the Notes, only the consent of the Holders of a majority
in aggregate principal amount of the then Outstanding Notes of such series shall be required.

 

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Upon the request
of the Issuer accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental
indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes
as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the
Issuer in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects
the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion,
but will not be obligated to, enter into such amended or supplemental Indenture.

 

It is not necessary
for the consent of the Holders of Notes under this Section 9.02 to approve the particular form of any proposed amendment, supplement
or waiver, but it is sufficient if such consent approves the substance thereof.

 

After an amendment,
supplement or waiver under this Section 9.02 becomes effective, the Issuer will mail to the Holders affected thereby a notice briefly
describing the amendment, supplement or waiver. Any failure of the Issuer to mail such notice, or any defect therein, will not,
however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver. The Holders of a majority
in aggregate principal amount of the Outstanding Notes, on behalf of all Holders of Notes, may waive compliance by the Issuer with
certain restrictive provisions of this Indenture. Subject to Sections 6.04 and 6.07 hereof the Holders of a majority in aggregate
principal amount of the Outstanding Notes, on behalf of all Holders of the Notes, may waive any past default under this Indenture,
except a default in the payment of principal, premium or interest or a default arising from failure to purchase any Note tendered
pursuant to an Offer to Purchase. Modifications and amendments of this Indenture may be made by the Issuer, the Issuer and the
Trustee with the consent of the Holders of a majority in aggregate principal amount of the Outstanding Notes; provided,
however, that no such modification or amendment may, without the consent of the Holders of 90% of the aggregate principal
amount of then Outstanding Notes affected thereby:

 

(1)         change
the Stated Maturity or the principal of, or any installment of interest on, any Note;

 

(2)         reduce
the principal amount of, (or premium) or interest on (or rate thereof), any Note;

 

(3)         change
the place or currency of payment of principal of (or premium), or interest on, any Note;

 

(4)         impair
the right to institute suit for the enforcement of any payment on or with respect to any Note;

 

(5)         reduce
the above stated percentage of Outstanding Notes necessary to modify or amend this Indenture;

 

(6)         reduce
the percentage of aggregate principal amount of Outstanding Notes necessary for waiver of compliance with certain provisions of
this Indenture or for waiver of certain defaults; or

 

(7)         following
the mailing of any Offer to Purchase, modify any Offer to Purchase for the Notes required under Sections 4.10 and 4.15 hereof in
a manner adverse to the Holders thereof.

 

For the avoidance
of doubt, the provisions of articles 470-1 to 470-19 (included) of the Luxembourg Law dated August 10, 1915 on commercial companies,
as amended from time to time, shall not apply in respect of the Notes.

 

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Section 9.03         Revocation
and Effect of Consents.

 

Until an amendment,
supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder of a Note and every subsequent
Holder that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note.
However, any such Holder or subsequent Holder may revoke the consent as to its Note if the Trustee receives written notice of revocation
before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in
accordance with its terms and thereafter binds every Holder.

 

Section 9.04         Notation
on or Exchange of Notes.

 

The Trustee may
place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Issuer in exchange
for all Notes may issue and the Trustee shall, upon receipt of an Authentication Order, authenticate or cause the Authenticating
Agent to authenticate the new Notes that reflect the amendment, supplement or waiver.

 

Failure to make
the appropriate notation or issue a new Note will not affect the validity and effect of such amendment, supplement or waiver.

 

Section 9.05         Trustee
to Sign Amendments, etc.

 

The Trustee will
sign any amended or supplemental indenture authorized pursuant to this Article 9 if the amendment or supplement does not adversely
affect the rights, duties, liabilities or immunities of the Trustee. The Issuer may not sign an amended or supplemental indenture
until the Board of Directors of the Issuer approves it. In executing any amended or supplemental indenture, the Trustee will be
entitled to receive and (subject to Section 7.01 hereof) will be fully protected in relying upon, an Officer’s Certificate
and an Opinion of Counsel stating that the execution of such amended or supplemental indenture is authorized or permitted by this
Indenture.

 

Article
10

[Reserved]

 

Article
11

[Reserved]

 

Article
12

[Reserved]

 

Article
13

Satisfaction
and Discharge

 

Section 13.01         Satisfaction
and Discharge.

 

(a)          This
Indenture will be discharged and will cease to be of further effect as to all Notes issued thereunder, when:

 

(1)         either:

 

(A)         all
Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose
payment money has been deposited in trust and thereafter repaid to the Issuer, have been delivered to the Trustee for cancellation;
or

 

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(B)         all
Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the mailing of a notice
of redemption or otherwise or will become due and payable within one year and the Issuer has irrevocably deposited or caused to
be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S. Dollars, non-callable
Government Securities, or a combination of cash in U.S. Dollars and non-callable Government Securities, in each case, in amounts
as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Debt on the Notes
not delivered to the Trustee for cancellation for principal, premium and Additional Amounts, if any, and accrued interest to the
date of maturity or redemption;

 

(2)         the
Issuer has paid or caused to be paid all sums payable by it under this Indenture; and

 

(3)         the
Issuer has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment
of the Notes at maturity or on the redemption date, as the case may be.

 

In addition, the
Issuer must deliver an Officer’s Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent
to satisfaction and discharge have been satisfied; provided that any such counsel may rely on any Officer’s Certificate
as to matters of fact (including as to compliance with the foregoing clauses (1), (2) and (3) of this Section 13.01(a)).

 

(b)          Notwithstanding
the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to Section 13.01(a)(1)(B),
the provisions of Sections Section 13.02 and 8.06 hereof will survive. In addition, nothing in this Section 13.01 will be deemed
to discharge those provisions of Section 7.07 hereof, that, by their terms, survive the satisfaction and discharge of this Indenture.

 

Section 13.02         Application
of Trust Money.

 

Subject to the provisions
of Section 8.06 hereof, all money deposited with the Trustee pursuant to Section 13.01 hereof shall be held in trust and applied
by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying
Agent (including the Issuer acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the
principal of, premium on, if any, interest and Additional Amounts, if any, for whose payment such money has been deposited with
the Trustee; but such money need not be segregated from other funds except to the extent required by law.

 

If the Trustee or
Paying Agent is unable to apply any money or U.S. Government Securities in accordance with Section 13.01 hereof by reason of any
legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, the Issuer’s obligations under this Indenture and the Notes shall be revived and reinstated
as though no deposit had occurred pursuant to Section 13.01 hereof; provided that if the Issuer has made any payment of
principal of, premium on, if any, interest and Additional Amounts, if any, on, the Notes because of the reinstatement of its obligations,
the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or U.S. Government
Securities held by the Trustee or Paying Agent.

 

Article
14

Miscellaneous

 

Section 14.01         Notices.

 

Any notice or communication
by the Issuer or the Trustee to the others is duly given if in writing and delivered in person or mailed by first class mail (registered
or certified, return receipt requested), facsimile transmission or overnight air courier guaranteeing next day delivery, to the
others’ address:

 

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If to the Issuer:

 

Millicom International Cellular
S.A.

2, rue du Fort Bourbon

L-1249, Luxembourg Grand Duchy
of Luxembourg

Facsimile No.: +352 27 759 901

Attention: Office of the General
Counsel

 

With a copy to:

 

Davis Polk & Wardwell LLP

450 Lexington Avenue, New York

NY 10017, United States of America

Facsimile No.: +1-212-701-5077

Attention: John B. Meade

 

Citibank, N.A., London Branch

Citigroup Centre

Canada Square

Canary Wharf

London E14 5LB

Attn: Trustee-Agency & Trust

Facsimile: +44 207 500 5877

 

If to the Trustee
to Citibank, N.A., London Branch at the address above.

 

If to Registrar:

 

Citigroup Global Markets Europe
AG

5th Floor, Reuterweg 16

60323 Frankfurt

Germany

Attn: Citi-Registrar-Agency
& Trust

Facsimile: +49 692222 9586

 

If to Paying Agent or Transfer
Agent:

 

Citibank, N.A., London Branch

Citigroup Centre

Canada Square

Canary Wharf

London E14 5LB

Attn: Paying Agent-Agency &
Trust

Facsimile: +353 1 622 2210/
+353 1 622 2212

 

Attn: Transfer Agent-Agency
& Trust

Facsimile: +353 1 247 6348

 

The Issuer or the
Trustee, by notice to the others, may designate additional or different addresses for subsequent notices or communications.

 

All notices and
communications (other than those sent to Holders) will be deemed to have been duly given: at the time delivered by hand, if personally
delivered; upon receipt if mailed; when receipt acknowledged, if transmitted by facsimile; and the next Business Day after timely
delivery to the courier, if sent by overnight air courier guaranteeing next day delivery.

 

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For so long as the
Notes are listed on the Official List of Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market, and the rules
of the Luxembourg Stock Exchange so require, notices of the Issuer will be published on the official website of the Luxembourg
Stock Exchange (www.bourse.lu). In addition, for so long as any Notes are represented by one or more Global Notes, all notices
to Holders will be delivered by or on behalf of the Issuer to DTC, Euroclear or Clearstream. Such notices may also be published
in a leading newspaper of general circulation in Luxembourg or if, in the opinion of the Issuer such publication is not practicable,
in an English language newspaper having general circulation in Europe.

 

Notices delivered
to DTC, Euroclear or Clearstream will be deemed given on the date when delivered. If a notice or communication is published in
the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it.

 

If the Issuer mails
a notice or communication to Holders or delivers a notice or communication to holders of Book-Entry Interests, it will mail a copy
to the Trustee and each Agent at the same time.

 

Section 14.02         [Reserved].

 

Section 14.03         Certificate
and Opinion as to Conditions Precedent.

 

Upon any request
or application by the Issuer to the Trustee to take or refrain from taking any action under this Indenture, the Issuer shall furnish
to the Trustee:

 

(1)         an
Officer’s Certificate in form and substance reasonably satisfactory to the Trustee (which must include the statements set
forth in Section 14.04 hereof) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided
for in this Indenture relating to the proposed action have been satisfied; and

 

(2)         an
Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which must include the statements set forth in
Section 14.04 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied.

 

Section 14.04         Statements
Required in Certificate or Opinion.

 

Each certificate
or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include:

 

(1)         a
statement that the Person making such certificate or opinion 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 or opinion 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 satisfied; and

 

(4)         a
statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied.

 

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Section 14.05         Rules
by Trustee and Agents.

 

The Trustee may
make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set
reasonable requirements for its functions.

 

Section 14.06         Agent
for Service; Submission to Jurisdiction; Waiver of Immunities.

 

Each of the parties
hereto irrevocably agrees that any suit, action or proceeding arising out of, related to, or in connection with this Indenture,
the Notes or the transactions contemplated hereby, and any action arising under U.S. federal or state securities laws, may be instituted
in any U.S. federal or state court located in the State and City of New York, Borough of Manhattan; irrevocably waives, to the
fullest extent it may effectively do so, any objection which it may now or hereafter have to the laying of venue of any such proceeding;
and irrevocably submits to the jurisdiction of such courts in any such suit, action or proceeding. The Issuer has appointed CT
Corporation System, 111 Eighth Avenue, 13th Floor, New York, New York 10011, United States of America, as its authorized
agent upon whom process may be served in any such suit, action or proceeding which may be instituted in any federal or state court
located in the State of New York, Borough of Manhattan arising out of or based upon this Indenture, the Notes or the transactions
contemplated hereby or thereby, and any action brought under U.S. federal or state securities laws (the “Authorized Agent”).
The Issuer expressly consents to the jurisdiction of any such court in respect of any such action and waives any other requirements
of or objections to personal jurisdiction with respect thereto and waives any right to trial by jury. Such appointment shall be
irrevocable unless and until replaced by an agent reasonably acceptable to the Trustee. The Issuer represents and warrants that
the Authorized Agent has agreed to act as said agent for service of process, and the Issuer agrees to take any and all action,
including the filing of any and all documents and instruments, that may be necessary to continue such appointment in full force
and effect as aforesaid. Service of process upon the Authorized Agent and written notice of such service to the Issuer shall be
deemed, in every respect, effective service of process upon the Issuer.

 

Section 14.07         No
Liability of Directors, Officers, Employees, Incorporators, Members and Stockholders.

 

None of the directors,
officers, employees, incorporators, members or stockholders, as such, of the Issuer, as such, will have any liability for any of
the Issuer’s obligations under the Notes or this Indenture, or for any claim based on, in respect of, or by reason of, such
obligations. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of
the consideration for issuance of the Notes. This waiver may not be effective to waive liabilities under applicable securities
laws.

 

Section 14.08         Governing
Law.

 

THE INTERNAL LAW
OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES
OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

For the avoidance
of doubt, the provisions of articles 470-1 to 470-19 (included) of the Luxembourg Law dated August 10, 1915 on commercial companies,
as amended from time to time, are excluded.

 

Section 14.09         No
Adverse Interpretation of Other Agreements.

 

This Indenture may
not be used to interpret any other indenture, loan or debt agreement of the Issuer or any of its Subsidiaries or of any other Person.
Any such indenture, loan or debt agreement may not be used to interpret this Indenture.

 

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Section 14.10        Successors.

 

All agreements of
the Issuer in this Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture will bind
its successors.

 

Section 14.11        Severability.

 

In case any provision
in this Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions will not in any way be affected or impaired thereby.

 

Section 14.12        Counterpart
Originals.

 

The parties may
sign any number of copies of this Indenture. Each signed copy will be an original, but all of them together represent the same
agreement.

 

Section 14.13        Table
of Contents, Headings, etc.

 

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

 

Section 14.14        Judgment
Currency.

 

Any payment on account
of an amount that is payable in U.S. Dollars (the “Required Currency”) which is made to or for the account of
any Holder or the Trustee in lawful currency of any other jurisdiction (the “Judgment Currency”), whether as
a result of any judgment or order or the enforcement thereof or the liquidation of the Issuer, shall constitute a discharge of
the Issuer’s obligations under this Indenture and the Notes, only to the extent of the amount of the Required Currency with
such Holder or the Trustee, as the case may be, could purchase in the London foreign exchange markets with the amount of the Judgment
Currency in accordance with normal banking procedures at the rate of exchange prevailing on the first Business Day following receipt
of the payment in the Judgment Currency. If the amount of the Required Currency that could be so purchased is less than the amount
of the Required Currency originally due to such Holder or the Trustee, as the case may be, the Issuer shall indemnify and hold
harmless the Holder or the Trustee, as the case may be, from and against all loss or damage arising out of, or as a result of,
such deficiency. This indemnity shall constitute an obligation separate and independent from the other obligations contained in
this Indenture or the Notes, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence
granted by any Holder or the Trustee from time to time and shall continue in full force and effect notwithstanding any judgment
or order for a liquidated sum in respect of an amount due hereunder or under any judgment or order.

 

Section 14.15        Prescription.

 

Claims against the
Issuer for the payment of principal or Additional Amounts, if any, on the Notes will be prescribed ten years after the applicable
due date for payment thereof. Claims against the Issuer for the payment of interest on the Notes will be prescribed five years
after the applicable due date for payment of interest.

 

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Section
14.16        Contractual Recognition of Bail-In Powers.

 

(a)          The
Issuer acknowledges and accepts that, notwithstanding any other provision of this Indenture or any other agreement, arrangement
or understanding between the parties:

 

(1)         any
Liability may be subject to the exercise of Write-down and Conversion Powers by the Resolution Authority;

 

(2)         The
Issuer will be bound by the effect of any application of any Write-down and Conversion Powers in relation to any Liability and
in particular (but without limitation) by:

 

(A)         any
reduction in the principal amount, in full or in part, or outstanding amount due (including any accrued but unpaid interest) due
in respect of any Liability; and

 

(B)         any
conversion of all or part of any Liability into ordinary shares or other instruments of ownership of Citigroup Global Markets Europe
AG or any other person; that may result from any exercise of any Write-down and Conversion Powers in relation to any Liability;

 

(3)         the
terms of this Indenture and the rights of the Issuer hereunder may be varied, to the extent necessary, to give effect to any exercise
of any Write-down and Conversion Powers in relation to any Liability and the Issuer will be bound by any such variation; and

 

(4)         ordinary
shares or other instruments of ownership of Citigroup Global Markets Europe AG or any other person may be issued to or conferred
on the Issuer as a result of any exercise of any Write-down and Conversion Powers in relation to any Liability.

 

(b)          Defined
terms used in this Section 14.16 have the following meanings:

 

(1)         “Liability”
means any liability of Citigroup Global Markets Europe AG to the Issuer arising under or in connection with this Indenture;

 

(2)         “Resolution
Authority” means the German Federal Agency for Financial Markets Stabilization (Bundesanstalt fur Finanzmarktstabilisierung),
or any other body which has authority to exercise any Write-down and Conversion Powers;

 

(3)         “Write-down
and Conversion Powers” means any write-down, conversion, transfer, modification or suspension power existing from time
to time under, and exercised in compliance with, any laws, regulations, rules or requirements in effect in Germany, relating to
the transposition of Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment
firms as amended from time to time, including but not limited to the German Recovery and Resolution Act (Sanierungs- und Abwicklungsgesetz)
as amended from time to time, and the instruments, rules and standards created thereunder, pursuant to which:

 

(A)         any
obligation of Citigroup Global Markets Europe AG (or other affiliate of such entity) can be reduced, cancelled, modified or converted
into shares, other securities or other obligations of such entity or any other person (or suspended for a temporary period); and

 

(B)         any
right in a contract governing an obligation Citigroup Global Markets Europe AG may be deemed to have been exercised.

 

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[Signatures on following
page]

 

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IN WITNESS HEREOF,
the parties have caused this Indenture to be duly executed as of the date first written above.

 

	 	MILLICOM
    INTERNATIONAL CELLULAR S.A., as the Issuer
	 	 
	 	By:	  /s/ Patrick Gill
	 	 	Name:  Patrick Gill
	 	 	Title:    Company Secretary

 

	 	By:	  /a/ Justine Dimovic
	 	 	Name:  Justine Dimovic
	 	 	Title: 
      Group Treasurer

 

[Signature Page to
2026 Indenture]

 

    	 

    
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	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

	 	CITIBANK,
    N.A., LONDON BRANCH, as Trustee, Paying Agent and Transfer Agent
	 	 	 
	 	By:	Citibank, N.A., London Branch

 

	 	By:	  /s/ Stuart Sullivan
	 	 	Name:  Stuart Sullivan
	 	 	Title: 
      Vice President

 

[Signature Page to
2026 Indenture]

 

    	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0964
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

	 	CITIGROUP GLOBAL MARKETS EUROPE AG, as Registrar
	 	 
	 	By: Citigroup Global Markets Europe AG

 

	 	By:	  /s/ Evdokia Petrakopoulou
	 	 	Name:  Evdokia Petrakopoulou
	 	 	Title:

 

	 	By:	  /s/ Ilona Kuhn
	 	 	Name:  Ilona Kuhn
	 	 	Title:

 

[Signature Page to
2026 Indenture]

 

    	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0965
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

Exhibit
A

 

[Face of Note]

 

 

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

 

[Insert the Private
Placement Legend, if applicable pursuant to the provisions of the Indenture]

 

MILLICOM INTERNATIONAL
CELLULAR S.A.

 

6.625% Senior
Notes due 2026

 

	No. _____	CUSIP:

 

	 	ISIN:
	 	 
	 	COMMON CODE:
	 	 
	 	$ __________
	 	 
	 	Issue Date: __________

 

MILLICOM INTERNATIONAL
CELLULAR S.A., a société anonyme organized under the laws of the Grand Duchy of Luxembourg, promises to pay
to______________________ or registered assigns, the principal sum of _____________________________ DOLLARS or such greater
or lesser amount as indicated in the schedule of Exchanges of Interests in the Global Note on October 15, 2026

 

Interest Payment
Dates: April 15 and October 15

 

Record Dates: Holders
of record on each Note in respect of the principal amount thereof outstanding on the Business Day immediately preceding the related
Interest Payment Date.

 

Dated: __________

 

    		A-1	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0966
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Note to be signed manually or by facsimile by the duly authorized officers referred to below.

 

	 	MILLICOM INTERNATIONAL
	 	CELLULAR S.A.

 

	 	By:	 
	 	Name:
	 	Title:
	 	 	 
	 	By:	 
	 	Name:
	 	Title:

 

    		A-2	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0967
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

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

 

Citibank, N.A., London Branch, not in
its individual capacity, but in its capacity as Authenticating Agent with respect to the Notes appointed by the Trustee, CITIBANK,
N.A., LONDON BRANCH

 

	 	CITIBANK, N.A., LONDON BRANCH

 

	 	By:	 

	 	Authorized Signatory:

  

    		A-3	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0968
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

[Back of Note]

 

 

 

6.625% Senior Notes
due 2026

 

Capitalized terms
used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

 

    		A-4	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0969
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(1)    
     INTEREST. MILLICOM INTERNATIONAL CELLULAR S.A., a public limited liability company (société
anonyme) organized under the laws of the Grand Duchy of Luxembourg, having its registered office at 2, rue du Fort
Bourbon, L-1249 Luxembourg and registered with the Luxembourg Register of Commerce and Companies under the number B 40630
(the “Issuer”), promises to pay or cause to be paid interest on the principal amount of this Note at
6.625% per annum from _______________________ until maturity. The Issuer will pay interest semi-annually in arrears on April
15 and October 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an
“Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest
has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing
Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof
and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided
further that the first Interest Payment Date shall be _______________. The Issuer will pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from
time to time on demand at the rate then in effect to the extent lawful. The Issuer will pay interest (including post-petition
interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Amounts (without
regard to any applicable grace periods), from time to time on demand at the same rate to the extent lawful. Interest will be
computed on the basis of a 360-day year comprised of twelve 30-day months. Each interest period shall end (but not include)
the relevant Interest Payment Date.

 

(2)     
    METHOD OF PAYMENT. The Issuer will pay interest on the Notes (except defaulted interest) to
the Persons who are registered Holders of Notes on the Business Day immediately preceding the related Interest Payment Date,
even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in
Section 2.12 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium, if any,
interest and Additional Amounts, if any, through the Paying Agents as provided in the Indenture or, at the option of the
Issuer, payment of interest and Additional Amounts, if any, may be made by check mailed to the Holders at their addresses set
forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be
required with respect to principal of and interest, premium, if any, and Additional Amounts, if any, on, all Global Notes and
all other Notes the Holders of which will have provided wire transfer instructions to the Issuer or the Paying Agent. In
addition, interest on the Definitive Registered Notes may be paid by check mailed to the person entitled thereto as shown on
the Register for the Definitive Registered Notes. The Issuer will make all payments in immediately available same-day freely
transferable funds and in U.S. Dollars.

 

(3)     
    PAYING AGENT, REGISTRAR AND TRANSFER AGENT. Initially, Citibank, N.A., London Branch will act
as Paying Agent and Transfer Agent. Citigroup Global Markets Europe AG will act as Registrar. The Issuer shall maintain a
Paying Agent and Transfer Agent. Upon notice to the Trustee, the Issuer may change any Paying Agent, Registrar or Transfer
Agent.

 

(4)     
    INDENTURE. The Issuer issued the Notes under an Indenture dated as of October 16, 2018 (the
“Indenture”) between the Issuer, Citibank, N.A., London Branch, as Trustee, Transfer Agent and Paying
Agent, and Citigroup Global Markets Europe AG, as Registrar. The Notes are subject to all such terms, and Holders are
referred to the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express
provisions of the Indenture, the provisions of the Indenture shall govern and be controlling.

 

    		A-5	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0970
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(5)    
     OPTIONAL REDEMPTION.

 

(a)          Except
as detailed below, the Notes are not redeemable at the Issuer’s option. The Issuer is not, however, prohibited from acquiring
the Notes by means other than a redemption, whether pursuant to a tender offer, open market purchase or otherwise, so long as the
acquisition does not otherwise violate the terms of the Indenture. The Issuer may make any redemption or redemption notice subject
to the satisfaction of conditions precedent. If such redemption or notice is subject to satisfaction of one or more conditions
precedent, such notice shall state that, in the Issuer’s discretion, the redemption date may be delayed until such time (but
no more than 60 days after the date of the notice of redemption) as any or all such conditions shall be satisfied, or such redemption
may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied or waived
by the redemption date, or by the redemption date as so delayed, or such notice may be rescinded at any time in the Issuer’s
discretion if in the good faith judgement of the Issuer any or all of such conditions will not be satisfied or waived. In addition,
the Issuer may provide in such notice that payment of the redemption price and performance of the Issuer’s obligations with
respect to such redemption may be performed by another Person.

 

(b)          If
a redemption date is not a Business Day, payment may be made on the next succeeding day that is a Business Day, and no interest
shall accrue on any amount that would have been otherwise payable on such redemption date if it were a Business Day for the intervening
period. If the optional redemption date is on or after an interest record date and on or before the related interest payment date,
the accrued and unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business
on such record date and no additional interest will be payable to Holders whose Notes will be subject to redemption.

 

(c)          At
any time prior to October 15, 2021, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the
Issuer may on any one or more occasions redeem up to 40% of the original aggregate principal amount of Notes (including Additional
Notes) at a redemption price of 106.625% of their principal amount, plus accrued and unpaid interest, if any, to the redemption
date (subject to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest
payment date), with the proceeds from one or more Equity Offerings or any sale of Qualified Capital Stock of any Restricted Subsidiary
of the Issuer. The Issuer may only do this, however, if:

 

(1)         at
least 50% of the aggregate principal amount of Notes that were initially issued under the Indenture would remain outstanding immediately
after the proposed redemption; and

 

(2)         the
redemption occurs within 180 days after the closing of such Equity Offering or sale of Qualified Capital Stock.

 

Any notice for such
a redemption may be given prior to completing the Equity Offering or sale of Qualified Capital Stock and be conditioned upon its
completion.

 

(d)          At
any time prior to October 15, 2021, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the
Issuer may on any one or more occasions redeem up to 40% of the original aggregate principal amount of Notes (including Additional
Notes) at a redemption price of 106.625% of their principal amount, plus accrued and unpaid interest, if any, to the redemption
date (subject to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest
payment date), with the Net Available Proceeds from one or more Specified Subsidiary Sales. The Issuer may only do this, however,
if:

 

(1)         at
least 50% of the aggregate principal amount of Notes that were initially issued would remain outstanding immediately after the
proposed redemption; and

 

(2)         the
redemption occurs within 365 days from the later of the date of such Specified Subsidiary Sale or the receipt of such Net Available
Proceeds.

 

(e)          During
each 12 month period commencing on the Issue Date and ending on October 15, 2021, upon not less than 10 nor more than 60 days’
prior notice to the Trustee and the Holders, the Issuer may redeem up to 10% of the original aggregate principal amount of the
Notes (including Additional Notes) at a redemption price equal to 103% of the principal amount of the Notes redeemed, plus accrued
and unpaid interest and Additional Amounts, if any, to the applicable redemption date (subject to the right of Holders of record
on the relevant record date to receive interest due on the relevant interest payment date).

 

    		A-6	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0971
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(f)          At
any time prior to October 15, 2021, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the
Issuer may also redeem all or part of the Notes (including Additional Notes) at a redemption price equal to 100% of the principal
amount thereof plus the Applicable Redemption Premium and accrued and unpaid interest and Additional Amounts, if any, to the date
of redemption, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest
payment date.

 

(g)          At
any time on or after October 15, 2021, and prior to maturity, upon not less than 10 nor more than 60 days’ notice to the
Trustee and the Holders, the Issuer may redeem all or part of the Notes. These redemptions will be in amounts of $200,000 or integral
multiples of $1,000 in excess thereof at the following redemption prices (expressed as percentages of their principal amount at
maturity), plus accrued and unpaid interest and Additional Amounts, if any, to the redemption date, if redeemed during the 12-month
period commencing on October 15 of the years set forth below:

 

	Year	 	Redemption
 Price	 
	2021	 	 	104.969	%
	2022	 	 	103.313	%
	2023	 	 	101.656	%
	2024 and thereafter	 	 	100.00	%

 

(6)   
      REDEMPTION UPON CHANGES IN WITHHOLDING TAXES.

 

The Issuer may redeem
the Notes, in whole but not in part, at its option, at 100% of the outstanding principal amount thereof plus accrued and unpaid
interest to the date of redemption and any Additional Amounts (as defined under Section 4.22(a) of the Indenture) payable with
respect thereto, if:

 

(a)          as
a result of (i) any change in, or amendment to, the laws or treaties (or any regulations or rulings promulgated thereunder) of
any Relevant Taxing Jurisdiction (as defined under Section 4.22(a) of the Indenture) affecting taxation which is publicly announced
and becomes effective on or after the date of the Indenture or, if such Relevant Taxing Jurisdiction has become a Relevant Taxing
Jurisdiction after the date of the Indenture, on or after the date on which such Relevant Taxing Jurisdiction became a Relevant
Taxing Jurisdiction under the Indenture or (ii) any change in, or amendment to, the existing official published position (including
any such change or amendment occurring as a result of the introduction of an official position) regarding the application, administration
or interpretation of the laws or treaties (or any regulations or rulings promulgated thereunder) of any Relevant Taxing Jurisdiction
(including any such change or amendment occurring as a result of a holding, judgment or order by a court of competent jurisdiction
or a change in published practice), which change or amendment is publicly announced and, where applicable, becomes effective on
or after the date of the Indenture or, if such Relevant Taxing Jurisdiction has become a Relevant Taxing Jurisdiction after the
date of the Indenture, on or after the date on which such Relevant Taxing Jurisdiction became a Relevant Taxing Jurisdiction under
the Indenture (either, a “Change in Tax Law”), the Issuer has or will become obligated to pay Additional Amounts;
and

 

(b)          such
obligation cannot be avoided by the Issuer taking reasonable measures available to it; provided, however, that for
this purpose reasonable measures shall not include any change in the Issuer’s jurisdiction of organization or the location
of its principal executive office, or the incurrence of material out of pocket costs by it. No such notice of redemption will be
given earlier than 90 days prior to the earliest date on which the Issuer would be obligated to pay such Additional Amounts if
a payment in respect of the Notes were then due.

 

    		A-7	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0972
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

Prior to the publication
or mailing of any notice of redemption of the Notes as described below, the Issuer must deliver to the Trustee (i) an Officers’
Certificate stating that the Issuer is entitled to effect such redemption and (ii) an opinion of legal counsel of recognized standing
stating that the Issuer has or will become obligated to pay Additional Amounts due to a Change in Tax Law. The Trustee will accept
and shall be entitled to rely on this certificate and opinion as sufficient evidence of the satisfaction of the conditions precedent
set forth in clauses (1) and (2) above, upon which it will be conclusive and binding on the Holders.

 

(7)   
      SPECIAL MANDATORY REDEMPTION.

 

(a)          In
order for the Issuer to cause the Escrow Agent to release the Escrowed Property to the Issuer (the “Release”),
the Escrow Agent and the Trustee shall have received from the Issuer, on or before the Escrow Longstop Date, an Officer’s
Certificate, upon which both the Escrow Agent and the Trustee shall be entitled to rely absolutely without further investigation,
to the effect that:

 

(1)         (i)
the Acquisition will be consummated promptly upon release of the Escrowed Property and (ii) since the Issue Date, no material term
or condition of the Stock Purchase Agreement has been amended or waived in a manner or to an extent that would be materially prejudicial
to the interests of Holders, other than any amendment or waiver made with the consent of Holders of a majority of the Outstanding
Notes;

 

(2)         promptly
after consummation of the Acquisition, the Issuer will own, directly or indirectly, 80% of the outstanding shares of Cable Onda;
and

 

(3)         as
at the date of such Officer’s Certificate, there is no Default or Event of Default with respect to the Issuer under clauses
(8) or (9) of Section 6.01 of the Indenture.

 

The Release will occur promptly upon
the receipt of such Officer’s Certificate. Upon the Release, the Escrowed Property will be paid out in accordance with the
Escrow Agreement and the Escrow Account will be reduced to zero.

 

(b)          In
the event that (i) the satisfaction of the conditions set forth in the paragraph (a) above does not take place on or prior to the
Escrow Longstop Date, (ii) in the reasonable judgment of the Issuer, the Acquisition will not be consummated on or prior to the
Escrow Longstop Date, (iii) the Stock Purchase Agreement terminates at any time on or prior to the Escrow Longstop Date or (iv)
there is a Default or an Event of Default with respect to the Issuer under clauses (8) or (9) of Section 6.01 of the Indenture
on or prior to the Escrow Longstop Date (the date of any such event being the “Special Termination Date”), the
Issuer will redeem the entire aggregate principal amount of the Notes (the “Special Mandatory Redemption”) at
a price (the “Special Mandatory Redemption Price”) equal to the aggregate issue price of the Notes plus accrued
and unpaid interest and Additional Amounts, if any, from the Issue Date, or if applicable, from the most recent date to which interest
on the Notes was paid or provided for, to, but not including, the Special Mandatory Redemption Date (subject to the right of Holders
of record on the relevant record date to receive interest due on the relevant interest payment date).

 

(c)          Notice
of the Special Mandatory Redemption will be delivered by the Issuer, no later than one Business Day following the Special Termination
Date, to the Trustee, the Paying Agent and the Escrow Agent, and will provide that the Notes shall be redeemed on a date that is
not less than two Business Days prior and not later than the fifth Business Day after such notice is given by the Issuer in accordance
with the terms of the Escrow Agreement (the “Special Mandatory Redemption Date”).

 

(d)          No
later than 5:00 p.m. London time on the Business Day prior to the Special Mandatory Redemption Date, the Escrow Agent shall pay
to the Paying Agent for payment to each Holder the Special Mandatory Redemption Price for such Holder’s Notes and, concurrently
with the payment to such Holders, deliver any excess Escrowed Property (if any) to the Issuer.

 

    		A-8	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0973
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(e)          In
the event that the Special Mandatory Redemption Price payable upon such Special Mandatory Redemption exceeds the amount of the
Escrowed Property, the Issuer will pay the accrued and unpaid interest and Additional Amounts, if any, and any other amounts owing
to the Holders of the Notes.

 

(f)          If
at the time of such Special Mandatory Redemption, the Notes are listed on the Official List of the Luxembourg Stock Exchange and
admitted to trading on the Euro MTF Market, and the rules of the Luxembourg Stock Exchange so require, the Issuer will notify the
Luxembourg Stock Exchange that the Special Mandatory Redemption has occurred and any relevant details relating to such Special
Mandatory Redemption.

 

(g)          No
provisions of the Escrow Agreement and, to the extent such provisions relate to the Issuer’s obligation to redeem the Notes
in a Special Mandatory Redemption, the Indenture, may be amended, waived or modified in any manner materially adverse to the Holders
of the Notes without the consent of Holders of a majority of the Outstanding Notes. By accepting a Note, each Holder will be deemed
to have agreed to be bound by the terms of the Escrow Agreement and have irrevocably authorized the Trustee to take all the actions
set forth in the Escrow Agreement without the need for further direction from them under the Indenture.

 

(8)     
    SINKING FUND. Except as set forth under Section 3.09 of the Indenture, the Issuer will not be
required to make any other mandatory redemption or sinking fund payments with respect to the Notes.

 

(9)    
     REPURCHASE AT THE OPTION OF HOLDER.

 

(a)          Within
60 days of the occurrence of a Change of Control Triggering Event, the Issuer will be required to make an Offer to Purchase all
Outstanding Notes at a purchase price equal to 101% of their principal amount plus accrued interest and any Additional Amounts
thereon to the date of purchase.

 

(b)          When
the aggregate amount of Excess Proceeds exceeds $75 million, the Issuer will, within 15 Business Days of the end of the applicable
period in Section 4.10(b), make an Excess Proceeds Offer to all Holders and from the holders of any Pari Passu Debt, to the extent
required by the terms thereof, on a pro rata basis, in accordance with the procedures set forth in Section 3.12 of the Indenture
or the agreements governing any such Pari Passu Debt, the maximum principal amount (expressed as a minimum amount of $200,000 and
integral multiples of $1,000 in excess thereof) of the Notes and any such Pari Passu Debt that may be purchased with the amount
of the Excess Proceeds. The offer price as to each Note and any such Pari Passu Debt will be payable in cash in an amount equal
to (solely in the case of the Notes) 100% of the principal amount of such Note and (solely in the case of Pari Passu Debt) no greater
than 100% of the principal amount (or accreted value, as applicable) of such Pari Passu Debt, plus, in each case, accrued and unpaid
interest, if any, to the date of purchase.

 

(10)        NOTICE
OF REDEMPTION. At least 10 days but not more than 60 days before a redemption date, the Issuer will deliver, pursuant to Section
14.01 of the Indenture, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address, except
that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a
defeasance of the Notes or the satisfaction and discharge of the Indenture.

 

    		A-9	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0974
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(11)        DENOMINATIONS,
TRANSFER, EXCHANGE.

 

[The Global Notes
are in registered form without coupons attached. The Global Notes will represent the aggregate principal amount of all the Notes
issued and not yet cancelled other than Definitive Registered Notes.]1 [The Definitive Registered Notes are in registered
form without coupons attached in denominations of $200,000 and integral multiples of $1,000 above $200,000. The transfer of Notes
may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder,
among other things, to furnish appropriate endorsements and transfer documents and the Issuer may require a Holder to pay any taxes
and fees required by law or permitted by the Indenture. The Issuer shall not be required to register the transfer of any Definitive
Registered Notes (A) for a period of 15 days prior to any date fixed for the redemption of the Notes; (B) for a period of 15 days
immediately prior to the date fixed for selection of Notes to be redeemed in part; (C) for a period of 15 days prior to the record
date with respect to any interest payment date; or (D) which the Holder has tendered (and not withdrawn) for repurchase in connection
with a Change of Control Offer or an Excess Proceeds Offer.]2

 

 

1Include in any Global Note.

 

2Include in any Definitive
Registered Note

  

    		A-10	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0975
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(12)        PERSONS
DEEMED OWNERS. The registered Holder may be treated as the owner of it for all purposes.

 

(13)        AMENDMENT,
SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Indenture (including, without limitation, Section 3.12, Section 4.10
and Section 4.15 thereof), the Escrow Agreement and the Notes may be amended or supplemented with the consent of the Holders of
at least a majority in aggregate principal amount of the then Outstanding Notes (including, without limitation, Additional Notes,
if any) voting as a single class (including, without limitation, consents obtained in connection with a purchase of, or tender
offer or exchange offer for, the Notes), and, subject to Section 6.04 and Section 6.07 of the Indenture, any existing Default or
Event of Default (other than a Default or Event of Default in the payment of the principal of, premium on, if any, interest or
Additional Amounts, if any, on, the Notes, except a payment default resulting from an acceleration that has been rescinded) or
compliance with any provision of the Indenture, the Notes may be waived with the consent of the Holders of a majority in aggregate
principal amount of the then Outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class
(including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes);
provided that if any amendment, waiver or other modification will only affect one series of the Notes, only the consent
of the Holders of a majority in aggregate principal amount of the then Outstanding Notes of such series shall be required. In certain
circumstances, the Escrow Agreement, the Indenture or the Notes may be amended or supplemented without the consent of any Holder,
including to cure any ambiguity, defect or inconsistency.

 

(14)        DEFAULTS
AND REMEDIES. Except as set forth in Section 6.02 of the Indenture, if an Event of Default, as defined in the Indenture, occurs
and is continuing, the Trustee or the Holders of at least 25% of the aggregate principal amount of the then Outstanding Notes may,
by written notice to the Issuer (and to the Trustee if given by the Holders), declare all the Notes to be due and payable immediately.
If a bankruptcy or insolvency default with respect to the Issuer occurs and is continuing, the Notes automatically become due and
payable. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity
and/or security satisfactory to it before it enforces the Indenture or the Notes. Holders of a majority in aggregate principal
amount of the then Outstanding Notes may direct the time, method and place of conducting any proceeding for exercising any remedy
available to the Trustee or exercising any trust or power conferred on the Trustee.

 

(15)        AUTHENTICATION.
This Note will not be valid until authenticated by the manual signature of the authorized signatory of the Trustee or an authenticating
agent.

 

(16)        ABBREVIATIONS.
Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (=
tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian),
and U/G/M/A (= Uniform Gifts to Minors Act).

 

(17)        CUSIP
AND ISIN AND COMMON CODE NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of
redemption as a convenience to Holders. The Issuer has caused Common Code numbers to be printed on the Notes and the Trustee may
use Common Code numbers in notices of redemption as a convenience to Holders. In addition, the Issuer has caused ISIN numbers to
be printed on the Notes and the Trustee may use ISIN numbers in notices of redemption as a convenience to Holders. No representation
is made as to the accuracy of any such numbers either as printed on the Notes or as contained in any notice of redemption and reliance
may be placed only on the other identification numbers placed thereon.

 

    		A-11	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0976
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

(18)        GOVERNING
LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE AND THIS NOTE WITHOUT GIVING
EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD
BE REQUIRED THEREBY.

 

For the avoidance
of doubt, the provisions of articles 470-1 to 470-19 (included) of the Luxembourg Law dated August 10, 1915 on commercial companies,
as amended from time to time, shall not apply to the Notes.

 

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

 

MILLICOM INTERNATIONAL
CELLULAR S.A.

2, rue du Fort Bourbon

L-1249 Luxembourg

Grand Duchy of Luxembourg

Facsimile No.: +352
27 759 901

Attention: Office
of the General Counsel

 

    		A-12	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0977
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

ASSIGNMENT FORM

 

To assign this Note, fill in the form
below:

 

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

 

	 
	(Insert assignee’s soc. sec. or tax I.D. no.)
	 
	 
	 
	 
	 
	 
	 
	 
	(Print or type assignee’s name, address and zip code)

 

	and irrevocably appoint  	 

 

to transfer this Note on the books of
the Issuer. The agent may substitute another to act for him.

 

Date: _______________

 

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

 

	Signature Guarantee*:  	 	 

 

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

 

    		A-13	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0978
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

OPTION OF HOLDER TO ELECT PURCHASE*

 

If you want to elect
to have this Note purchased by the Issuer pursuant to Section 4.10 or 4.15 of the Indenture, check the appropriate box below

 

 ̈
Section 4.10          ̈
Section 4.15

 

If you want to elect
to have only part of the Note purchased by the Issuer pursuant to Section 4.10 or Section 4.15 of the Indenture, state the amount
you elect to have purchased (in denominations of $200,000 or integral multiples of $1,000 in excess thereof):

 

$____________

 

Date: ___________

 

	 	Your Signature: 	 
	 	(Sign exactly as your name 

appears on the face of this Note)
	 	 	 
	 	Tax Identification No.: 	 

 

	Signature Guarantee*:  	 	 

 

Signature Guarantee*:

 

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

 

    		A-14	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0979
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

SCHEDULE OF EXCHANGES OF INTERESTS
IN THE GLOBAL NOTE

 

The following exchanges
of a part of this Global Note for an interest in another Global Note or for a Definitive Registered Note, or exchanges of a part
of another Global Note or Definitive Registered Note for an interest in this Global Note, have been made:

 

	 

Date of Exchange	 	Amount of decrease 

in Principal 

Amount of 

this Global Note	 	Amount of increase

in Principal

Amount of 

this Global Note	 	Principal Amount

of this Global Note

following such

decrease 

(or increase)	
	
        Signature of

        authorized officer of 

Paying Agent,

        Trustee, Custodian

        or Common

        Depositary

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

    		A-15	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0980
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

Exhibit
B

 

[Issuer address block]

 

[Trustee/Transfer Agent/Registrar address
block]

 

Re:          $500,000,000
6.625% Senior Notes due 2026 of MILLICOM INTERNATIONAL CELLULAR S.A.

 

Reference is hereby made to the Indenture,
dated as of October 16, 2018 (the “Indenture”), between, among others, Millicom International Cellular S.A., a public
limited liability company (société anonyme) organized under the laws of the Grand Duchy of Luxembourg, having its
registered office at 2, rue du Fort Bourbon, L-1249 Luxembourg and registered with the Luxembourg Register of Commerce and Companies
under the number B 40630 (the “Issuer”), Citibank, N.A., London Branch, as Trustee, Transfer Agent and. Paying Agent
and Citigroup Global Markets Europe AG, as Registrar. Capitalized terms used but not defined herein shall have the meanings given
to them in the Indenture.

 

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

 

[CHECK ALL THAT APPLY]

 

1.        
  Check if Transferee will take delivery of a Book-Entry Interest in the 144A Global Note or a Definitive
Registered Note pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A
under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and, accordingly,
the Transferor hereby further certifies that the beneficial interest or the Book-Entry Interest or Definitive Registered Note
is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest
or the Book-Entry Interest or Definitive Registered Note for its own account, or for one or more accounts with respect to
which such Person exercises sole investment discretion, and such Person and each such account is a “qualified
institutional buyer” within the meaning of Rule 144A under the U.S. Securities Act in a transaction meeting the
requirements of Rule 144A under the U.S. Securities Act and such Transfer is in compliance with any applicable blue sky
securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of
the Indenture, the transferred beneficial interest or the Book-Entry Interest or Definitive Registered Note will be subject
to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or
the Definitive Registered Note and in the Indenture and the U.S. Securities Act.

 

2.      
    Check if Transferee will take delivery of a Book-Entry Interest in the Regulation S Global Note
or a Definitive Registered Note pursuant to Regulation S. The Transfer is being effected pursuant to and in
accordance with Rule 903 or Rule 904 under the U.S. Securities Act and, accordingly, the Transferor hereby further certifies
that (i) the Transfer is not being made to a person in the United States and (x) at the time the buy order was originated,
the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and
believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the
facilities of a designated offshore securities market, (ii) such Transferor does not know that the transaction was
prearranged with a buyer in the United States, (iii) no directed selling efforts have been made in connection with the
Transfer in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the U.S. Securities Act,
(iv) the transaction is not part of a plan or scheme to evade the registration requirements of the U.S. Securities Act and
(v) if the proposed transfer is being effected prior to the expiration of a Restricted Period, the transferee is not a U.S.
Person, as such term is defined pursuant to Regulation S of the Securities Act, and will take delivery only as a
Book-Entry Interest so transferred through Euroclear or Clearstream. Upon consummation of the proposed transfer in accordance
with the terms of the Indenture, the transferred Book-Entry Interest or Definitive Registered Note will be subject to the
restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the
Definitive Registered Note and in the Indenture and the U.S. Securities Act.

 

    		B-1	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0981
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

3.    
      Check and complete if Transferee will take delivery of a Book-Entry Interest in a
Global Note or a Definitive Registered Note pursuant to any provision of the U.S. Securities Act other than Rule 144A or
Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to Book-Entry
Interests in Global Notes and Definitive Registered Notes and pursuant to and in accordance with the U.S. Securities Act and
any applicable blue sky securities laws of any state of the United States.

 

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

 

	 	 
	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	Dated:	 

 

    		B-2	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0982
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

Annex
A TO CERTIFICATE OF TRANSFER

 

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

 

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

 

		(a)	a Book-Entry Interest in the:

 

		(i)	144A Global Note ([CUSIP][ISIN] _________), or

 

		(ii)	Regulation S Global Note ([ISIN] _________).

 

2.          After
the Transfer the Transferee will hold:

 

[CHECK ONE]

 

		(a)	a Book-Entry Interest in the:

 

		(i)	144A Global Note ([CUSIP][ISIN]_________), or

 

		(ii)	Regulation S Global Note ([ISIN] _________).

 

in accordance
with the terms of the Indenture.

 

    		B-3	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0983
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

Exhibit
C

 

[Issuer address block]

 

[Trustee/Transfer Agent/Registrar
address block]

 

	 	Re:	$500,000,000 6.625% Senior Notes due 2026 of MILLICOM INTERNATIONAL CELLULAR S.A.

 

(CUSIP______; ISIN________;
Common Code ____)

 

Reference is hereby made to the Indenture,
dated as of October 16, 2018 (the “Indenture”), between, among others, Millicom International Cellular S.A., a public
limited liability company (société anonyme) organized under the laws of the Grand Duchy of Luxembourg, having
its registered office at 2, rue du Fort Bourbon, L-1249 Luxembourg and registered with the Luxembourg Register of Commerce and
Companies under the number B 40630 (the “Issuer”), Citibank, N.A., London Branch, as Trustee, Transfer Agent and Paying
Agent and Citigroup Global Markets Europe AG, as Registrar. Capitalized terms used but not defined herein shall have the meanings
given to them in the Indenture.

 

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

 

1.           ̈
Check if Exchange is from Book-Entry Interest in a Global Note for
Definitive Registered Notes. In connection with the Exchange of the Owner’s Book-Entry Interest in a Global Note for
Definitive Registered Notes in an equal amount, the Owner hereby certifies that such Definitive Registered Notes are being acquired
for the Owner’s own account without transfer. The Definitive Registered Notes issued pursuant to the Exchange will bear the
Private Placement Legend and will be subject to restrictions on transfer enumerated in the Indenture and the U.S. Securities Act.

 

2.           ̈
Check if Exchange is from Definitive Registered Notes for Book-Entry
Interest in a Global Note. In connection with the Exchange of the Owner’s Definitive Registered Notes for Book- Entry
Interest in a Global Note in an equal amount, the Owner hereby certifies that such Book-Entry Interest in a Global Note are being
acquired for the Owner’s own account without transfer. The Book- Entry Interests transferred in exchange will be subject
to restrictions on transfer enumerated in the Indenture and the U.S. Securities Act.

 

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

  

	 	 
	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	Dated:	 

 

    		C-1	 

    
	 	Confidential treatment requested by the registrant for its submission of this draft registration	MIC-0984
	 	statement pursuant to Securities and Exchange Commission Rule 83	 

    

 

Annex
A TO CERTIFICATE OF EXCHANGE

 

		1.	The Owner owns and proposes to exchange the following:

 

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

 

		(a)	 ̈ a
Book-Entry Interest held through DTC/Euroclear/Clearstream Account

 

No. ________
in the:

 

		(i)	 ̈ D144A
Global Note ([CUSIP] [ISIN] _____), or

 

		(ii)	 ̈ Regulation
S Global Note ([ISIN] ___), or

 

		(b)	 ̈ a
Definitive Registered Note.

 

		2.	After the Exchange the Owner will hold:

 

[CHECK ONE]

 

		(a)	 ̈ a
Book-Entry Interest held through DTC/Euroclear/Clearstream Account

 

No. ________
in the:

 

		(i)	 ̈
D144A Global Note ([CUSIP] [ISIN] ____), or

 

		(ii)	 ̈
Regulation S Global Note ([ISIN] ____), or

 

		(b)	 ̈
a Definitive Registered Note.

 

in accordance
with the terms of the Indenture.

 

    		C-2

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