Document:

EX-4.1

 Exhibit 4.1 

EQUIFAX INC., 
 AS ISSUER

 AND 
 U.S. BANK
NATIONAL ASSOCIATION, 
 AS TRUSTEE 
  

 
 SIXTH
SUPPLEMENTAL INDENTURE 
 DATED AS OF NOVEMBER 19, 2019 

 
  

SIXTH SUPPLEMENT TO INDENTURE, 

DATED AS OF MAY 12, 2016, BETWEEN 

EQUIFAX INC. AND 
 U.S.
BANK NATIONAL ASSOCIATION, as Trustee 
  

 SIXTH SUPPLEMENTAL INDENTURE 

SIXTH SUPPLEMENTAL INDENTURE, dated as of November 19, 2019, between EQUIFAX INC., a Georgia corporation (the
“Issuer”), having its principal office at 1550 Peachtree Street, N.W., Atlanta, Georgia 30309, and U.S. BANK NATIONAL ASSOCIATION, as trustee (the “Trustee”), having its Corporate Trust Office at 1349 W.
Peachtree Street, NE, Suite 1050, Atlanta, Georgia 30309, under the Indenture, dated as of May 12, 2016, between the Issuer and the Trustee (the “Original Indenture”). 

RECITALS 
 WHEREAS,
the Issuer executed and delivered its Original Indenture to the Trustee to issue from time to time for its lawful purposes debt securities evidencing its indebtedness. 

WHEREAS, the Original Indenture provides that by means of a supplemental indenture, the Issuer may create one or more series of its
debt securities and establish the form and terms and conditions thereof. 
 WHEREAS, the Issuer desires to issue a series of senior
debt securities under the Original Indenture, and has duly authorized the creation and issuance of such series of debt securities and the execution and delivery of this Sixth Supplemental Indenture to modify the Original Indenture and provide
certain additional provisions as hereinafter described; 
 WHEREAS, the Issuer and the Trustee deem it advisable to enter into this
Sixth Supplemental Indenture for the purposes of establishing the terms of such series of debt securities and providing for the rights, obligations and duties of the Trustee with respect to such debt securities; 

WHEREAS, all conditions and requirements of the Original Indenture necessary to make this Sixth Supplemental Indenture a valid, binding
and legal instrument in accordance with its terms have been performed and fulfilled by the parties hereto and the execution and delivery thereof have been in all respects duly authorized by the parties hereto; 

WHEREAS, the Board of Directors of the Issuer, acting through authority delegated to certain of its executive officers, has approved
the creation of the Notes (as hereinafter defined) and the form, terms and conditions thereof; 
 WHEREAS, concurrently with the
execution hereof, the Issuer has delivered an Officers’ Certificate and has caused its counsel to deliver to the Trustee an Opinion of Counsel; and 

WHEREAS, the consent of Holders to the execution and delivery of this Sixth Supplemental Indenture is not required, and all other
actions required to be taken under the Original Indenture with respect to this Sixth Supplemental Indenture have been taken. 
 NOW,
THEREFORE IT IS AGREED: 
 ARTICLE ONE 

Creation of The Notes 

Section 1.1. Designation of Series. Pursuant to the terms hereof and Section 301 of the Original
Indenture, the Issuer hereby creates a series of its debt securities which shall be known as the “2.600% Senior Notes due 2024” (the “Notes”), which Notes shall be deemed “Securities” for all purposes under the
Original Indenture. 

 Section 1.2. Form and Denomination of Notes. The definitive form of
the Notes shall be substantially in the form set forth in Exhibit A attached hereto, which is incorporated herein and made part hereof. The Notes shall bear interest, be payable and have such other terms as are stated in the form of Note and
in the Original Indenture, as supplemented by this Sixth Supplemental Indenture. The Notes shall be issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

Section 1.3. Amount of Series. Subject to Section 1.10 hereof, the aggregate principal
amount of the Notes that may be issued under this Sixth Supplemental Indenture is initially limited to $750,000,000. The Notes may, upon the execution and delivery of this Sixth Supplemental Indenture or from time to time thereafter, be executed by
the Issuer and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said Notes upon the delivery of a Company Order. 

Section 1.4. Rank. The Notes are unsecured and unsubordinated and shall rank equally in right of payment among themselves and
with all of the Issuer’s other unsecured and unsubordinated indebtedness. 
 Section 1.5. No Sinking Fund. No sinking
fund shall be provided with respect to the Notes. 
 Section 1.6. Optional Redemption. 

(a) Except as otherwise may be specified in this Sixth Supplemental Indenture and in the Notes, Article Eleven of the Original Indenture shall
be applicable to the Notes. 
 (b) Prior to November 1, 2024, the Issuer shall have the right to redeem the Notes, in whole or in part,
at any time or from time to time, at a redemption price (the “Optional Redemption Price”) equal to the greater of: 

(i) 100% of the principal amount plus accrued and unpaid interest to, but excluding, the Redemption Date; and 

(ii) the sum of the present values of the Remaining Scheduled Payments of principal and interest (exclusive of interest accrued
to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate
plus 15 basis points, plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. 

(c) On or after November 1, 2024, the Issuer shall have the right to redeem the Notes, in whole or in part, at any time or from time to
time, at the Issuer’s option, for an amount in cash equal to 100% of the principal amount plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. 

(d) The Issuer will mail notice of such redemption to the registered holders of the Notes to be redeemed not less than 15 nor more than 60 days
prior to the Redemption Date. If Notes are only partially redeemed pursuant to this Section 1.6, the Notes to be redeemed will be selected by the Trustee in such manner as in its sole discretion it shall deem appropriate
and fair; provided, that if at the time of redemption the Notes to be redeemed are registered as a Global Note, the Depository shall determine, in accordance with its procedures, the principal amount of the Notes to be redeemed held by each
of its participants that holds a position in such Notes. The Optional Redemption Price shall be paid prior to 

  
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12:00 noon, New York time, on the Redemption Date or at such later time on such date as is then permitted by the rules of the Depository for the Notes (if then registered as a Global Note);
provided, that the Issuer shall deposit with the Trustee an amount sufficient to pay the Optional Redemption Price by 10:00 a.m., New York time, on the date such Optional Redemption Price is to be paid. 

Section 1.7. Definitions. For all purposes of this Sixth Supplemental Indenture: 

(a) Capitalized terms used herein without definition shall have the meanings set forth in the Original Indenture; 

(b) a term defined anywhere in this Sixth Supplemental Indenture (including the exhibits hereto) has the same meaning throughout; 

(c) the singular includes the plural and vice versa; 

(d) headings are for convenience of reference only and do not affect interpretation; 

(e) the following terms have the meanings given to them in this Section 1.7(e):  

“Business Day” means, unless otherwise specified, any calendar day that is not a Saturday, Sunday or legal holiday in New
York, New York and on which commercial banks are open for business in New York, New York. 
 “Comparable Treasury Issue”
means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term (“Remaining Life”) of the Notes to be redeemed (assuming that such Notes matured on
November 1, 2024) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes. 

“Comparable Treasury Price” means, with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer
Quotations for such Redemption Date, or (B) if the Independent Investment Banker obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such Quotations or, if only one such Quotation is obtained, such Quotation.

 “Depository” means a clearing agency registered under Section 17A of the Exchange Act that is designated to act as
Depository for the Notes. 
 “Independent Investment Banker” means an independent investment banking institution of
national standing appointed by the Issuer, which may be one of the Reference Treasury Dealers. 
 “Redemption Date”
means, with respect to any optional redemption of Notes pursuant to Section 1.6 hereof, the date fixed for such redemption pursuant to the Original Indenture and such Notes. 

“Reference Treasury Dealer” means BofA Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, a primary
U.S. government securities dealer in New York City (a “Primary Treasury Dealer”) selected by SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC and their respective successors; provided that if any of the foregoing or any
such successor shall cease to be a Primary Treasury Dealer, the Issuer will substitute therefor another Primary Treasury Dealer. 

  
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 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Independent Investment Banker by the Reference Treasury Dealer at 3:30 p.m. on the third Business Day preceding such Redemption Date. 

“Remaining Scheduled Payments” means, with respect to the Notes to be redeemed, the remaining scheduled payments of the
principal thereof and interest thereon that would be due after the related Redemption Date for such redemption (assuming that such Notes matured on November 1, 2024); provided, however, that if such Redemption Date is not an interest payment
date, with respect to the Notes, the amount of the next succeeding scheduled interest payment thereon will be deemed to be reduced by the amount of interest accrued thereon to such Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date: 

 

	 	(i)	 the yield, under the heading which represents the average for the immediately preceding week, appearing in, or
available through, the most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System (or companion online data resource
published by the Board of Governors of the Federal Reserve System) and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the
maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be
determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month), 

  

	 	(ii)	 if the period from the Redemption Date to the Maturity Date of the Notes to be redeemed is less than one year,
the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used, or 

  

	 	(iii)	 if such release (or any successor release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate shall be calculated by the Issuer on the third Business Day preceding such Redemption Date. The Trustee shall not be responsible for any such calculation.

 Section 1.8. Notes Not Convertible or Exchangeable. The Notes shall not be convertible or exchangeable
for other securities or property. 
 Section 1.9. Issuance of Notes; Selection of Depository. The Notes shall be issued as
Registered Securities in permanent global form, without coupons. The initial Depository for the Notes shall be The Depository Trust Company. 

Section 1.10. Issuance of Additional Notes. From time to time subsequent to the date hereof, without the consent of the
Holders of the Notes, the Issuer may create and issue additional Notes (the “Additional Notes”) under the terms of the Original Indenture and this Sixth Supplemental Indenture (and without need to execute any additional supplemental
indenture). The Additional Notes shall be issued as part of the existing series of Notes issued pursuant to this Sixth Supplemental Indenture and shall have terms identical in all material respects (except for the public offering price and the issue
date and, if 

  
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applicable, the initial interest accrual date and the initial Interest Payment Date) to any Outstanding Notes and shall be treated together with any Outstanding Notes as a single issue of Notes
under the Original Indenture and this Sixth Supplemental Indenture. Any Additional Notes issued hereunder shall rank equally and ratably with the Notes originally issued pursuant to this Sixth Supplemental Indenture, shall have the same CUSIP number
and shall trade interchangeably with such Notes (except for such Additional Notes that are not fungible with the Notes for U.S. federal income tax purposes, which shall have a separate CUSIP number) and shall otherwise constitute Notes for all other
purposes hereof. Any Additional Notes may be issued pursuant to authorization provided by one or more Board Resolutions. No Additional Notes shall be issued at any time that there is an Event of Default under the Original Indenture with respect to
the Notes that has occurred and is continuing. 
 Section 1.11. Issuance of Additional Debt Securities. In addition to the
Notes, the Issuer may, from time to time, issue other series of debt securities under the Original Indenture consisting of debentures, notes or other evidences of indebtedness, but such other series will be separate from and independent of the
Notes. The Original Indenture does not limit the amount of debt securities or any other debt (whether secured or unsecured or whether subordinated or unsubordinated) which the Issuer may incur. 

Section 1.12. Place of Payment; Transfer and ExchangeSection 1.13. . The Notes shall be payable and may be presented for
payment, purchase, redemption, registration of transfer and exchange and notices to or upon the Issuer shall be made at the office or agency of the Issuer maintained in the Borough of Manhattan, the City of New York for such office, which mutually
shall be at U.S. Bank Global Corporate Trust Services – New York, 100 Wall Street, Suite 1600, New York, NY 10005, or such other office as the Trustee may designate from time to time by notice to the Issuer. 

ARTICLE TWO 
 Appointment of
the Trustee For the Notes 
 Section 2.1. Appointment of Trustee; Acceptance by Trustee. Pursuant and subject to the
Original Indenture, the Issuer hereby appoints U.S. Bank National Association to act on behalf of the Holders of the Notes. By execution, acknowledgment and delivery of this Sixth Supplemental Indenture, the Trustee hereby accepts appointment as
trustee with respect to the Notes, and agrees to perform the duties and obligations of the Trustee with respect to the Notes upon the terms and conditions set forth in the Original Indenture and in this Sixth Supplemental Indenture. 

Section 2.2. Rights, Powers, Duties and Obligations of the Trustee. 

(a) Any rights, powers, duties and obligations by any provisions of the Original Indenture conferred or imposed upon the Trustee shall, insofar
as permitted by law, be conferred or imposed upon and exercised or performed by the Trustee with respect to the Notes. 
 (b) For purposes of
the Notes, pursuant to Section 301(25) of the Original Indenture, Section 612(3) of the Original Indenture is hereby amended by replacing the phrase “grossly negligent” with
“negligent” each time it appears. 
 Section 2.3. Rights in Indenture Applicable to Trustee. U.S. Bank National
Association, in its capacity as Trustee, shall be afforded all of the rights, powers, immunities and indemnities of the Trustee as set forth in the Original Indenture as if such rights, powers, immunities and indemnities were specifically set forth
herein. 

  
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 ARTICLE THREE 

Change of Control Offer 

Section 3.1. Change of Control Offer. 

(a) If a Change of Control Triggering Event occurs, unless the Issuer has exercised its option to redeem the Notes, the Issuer shall be
required to make an offer (the “Change of Control Offer”) to each Holder of the Notes to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes on the terms set
forth herein. 
 (b) In the Change of Control Offer, the Issuer shall be required to offer payment in cash equal to 101% of the aggregate
principal amount of Notes repurchased, plus accrued and unpaid interest, if any, on the Notes repurchased to the date of repurchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering
Event or, at the Issuer’s option, prior to any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, the Issuer shall mail a notice to Holders of the Notes describing the
transaction that constitutes or may constitute the Change of Control Triggering Event and offering to repurchase such Notes on the date specified in the notice, which date shall be no earlier than 15 days and no later than 60 days from the date such
notice is mailed (the “Change of Control Payment Date”). The notice shall, if mailed prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Triggering
Event occurring on or prior to the Change of Control Payment Date. 
 (c) In order to accept the Change of Control Offer, the Holder must
deliver to the Paying Agent, at least three Business Days prior to the Change of Control Payment Date, the Note together with the form entitled “Option of Holder to Elect Purchase” (which form is annexed to the Note) duly completed, or a
telegram, telex, facsimile transmission or a letter from a member of a national securities exchange, or the Financial Industry Regulatory Authority, Inc., or a commercial bank or trust company in the United States setting forth: 

(i) the name of the Holder of the Note; 

(ii) the principal amount of the Note; 

(iii) the principal amount of the Note to be repurchased; 

(iv) the certificate number or a description of the tenor and terms of the Note; 

(v) a statement that the Holder is accepting the Change of Control Offer; and 

(vi) a guarantee that the Note, together with the form entitled “Option of Holder to Elect Purchase” duly completed,
will be received by the Paying Agent at least three Business Days prior to the Change of Control Payment Date. 
 (d) Any exercise by a
Holder of its election to accept the Change of Control Offer shall be irrevocable. The Change of Control Offer may be accepted for less than the entire principal amount of the Notes, but in that event the principal amount of the Notes remaining
outstanding after repurchase must be equal to $2,000 or an integral multiple of $1,000 in excess thereof. 
 (e) On the Change of Control
Payment Date, the Issuer shall, to the extent lawful: 

  
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 (i) accept for payment all Notes or portions of such Notes properly tendered
pursuant to the Change of Control Offer; 
 (ii) deposit with the Paying Agent an amount equal to the Change of Control
Payment in respect of all Notes or portions of such Notes properly tendered; and 
 (iii) deliver or cause to be delivered to
the Trustee the Notes properly accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of such Notes being repurchased. 

(f) The Issuer shall not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if a third
party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Issuer and the third party purchases all Notes properly tendered and not withdrawn under its offer. In addition, the
Issuer shall not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture with respect to the Notes, other than a default in the payment of the Change of Control
Payment upon a Change of Control Triggering Event. 
 (g) The Issuer shall comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of the
Notes, the Issuer shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under the Change of Control Offer provisions of the Notes by virtue of any such conflict. 

(h) The Trustee has no obligation to determine whether a Change of Control Triggering Event has occurred and the Trustee has no obligation to
provide notice to the Holders of the Notes of the occurrence of any Change of Control Triggering Event. 

Section 3.2. Additional Definitions. For purposes of the Change of Control Offer provisions of the Securities of this series,
the following terms are applicable: 
 “Change of Control” means the occurrence of any of the following: (1) the
consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) (other than the Issuer or one of its
Subsidiaries) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Issuer’s
Voting Stock or other Voting Stock into which the Issuer’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (2) the direct or indirect sale, transfer, conveyance or
other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of all or substantially all of the assets of the Issuer and its Subsidiaries, taken as a whole, to one or more Persons (other than the
Issuer or one of its Subsidiaries); or (3) the first day on which a majority of the members of the Issuer’s Board of Directors are not Continuing Directors. Notwithstanding the foregoing, a transaction shall not be deemed to involve a
Change of Control if (1) the Issuer becomes a direct or indirect Wholly-Owned Subsidiary of a holding company and (2)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are
substantially the same as the holders of the Issuer’s Voting Stock immediately prior to that transaction or (B) immediately following that transaction no “person” (as that term is used in Section 13(d)(3) of the Exchange
Act), other than a holding company satisfying the requirements of this sentence, is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company. 

  
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 “Change of Control Triggering Event” means the occurrence of both a Change
of Control and a Rating Event. 
 “Continuing Directors” means, as of any date of determination, any member of the
Issuer’s Board of Directors who (1) was a member of such Board of Directors on the date the Notes were issued or (2) was nominated for election, elected or appointed to such Board of Directors with the approval of a majority of
the Continuing Directors who were members of such Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the Issuer’s proxy statement in which such member was named as a nominee
for election as a director, without objection to such nomination). 
 “Investment Grade Rating” means a rating equal to or
higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, and the equivalent investment grade credit rating from any additional rating agency or rating agencies selected by
the Issuer. 
 “Moody’s” means Moody’s Investors Service, Inc. 

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if any of Moody’s or S&P ceases to
rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) of the
Exchange Act selected by the Issuer (as certified by a resolution of the Issuer’s Board of Directors) as a replacement agency for Moody’s or S&P, or all of them, as the case may be. 

“Rating Event” means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an
Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period shall be extended so long as the rating of the Notes is
under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (1) the occurrence of a Change of Control and (2) public notice of the occurrence of a Change of Control or the
Issuer’s intention to effect a Change of Control. 
 “S&P” means Standard & Poor’s Rating Services,
a division of The McGraw-Hill Companies, Inc. 
 “Voting Stock” means, with respect to any specified
“person” (as that term is used in Section 13(d)(3) of the Exchange Act) as of any date, the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person. 

ARTICLE FOUR 
 Defeasance

 Section 4.1. Defeasance Applicable to Notes. Pursuant to Section 301(18) of the Original
Indenture, provision is hereby made for both (i) defeasance of the Notes under Section 402(2) of the Original Indenture and (ii) covenant defeasance of the Notes under Section 402(3) of
the Original Indenture, in each case, upon the terms and conditions contained in Article Four of the Original Indenture. For purposes of the Notes, pursuant to Section 301(18) of the Original Indenture,
Section 402(4)(ii) of the Original Indenture is hereby amended by (A) replacing the phrase “an Opinion of Counsel” with the phrase “a legal opinion of outside counsel,” (B) replacing the phrase
“such Opinion of Counsel” with the phrase “such legal opinion of outside counsel,” and (C) replacing the phrase “Holders” with the phrase “beneficial owners.” 

  
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 Section 4.2. Covenant Defeasance. Upon the Issuer’s satisfaction of
the conditions to elect covenant defeasance with respect to the Notes pursuant to Article 4 of the Original Indenture and Section 4.1 of this Sixth Supplemental Indenture, the Issuer shall be released from its
obligations under Article Seven of this Sixth Supplemental Indenture, in addition to any other covenants set forth in Section 402(3) of the Original Indenture. 

Section 4.3. Return of Trust Funds. For purposes of the Notes, pursuant to Section 301(25) of the
Original Indenture, Section 402(6) of the Original Indenture is hereby amended by replacing “Section 402(2)(i)” with “Sections 402(2)(i) and 402(3)”. 

ARTICLE FIVE 
 Defaults and
Remedies 
 Section 5.1. Events of Default. Except as provided below, Section 501 of the
Original Indenture shall be applicable to the Notes. For purposes of the Notes, pursuant to Section 301(15) of the Original Indenture, Section 501(4) of the Original Indenture is hereby amended by
deleting such section in its entirety and substituting in lieu thereof the following: 
 (4) default (i) in the payment
when due after giving effect to any applicable grace period of any scheduled principal on any Indebtedness of the Issuer or any of its Subsidiaries, having an aggregate principal amount outstanding of at least $50,000,000, or (ii) in the
performance of any other term or provision of any such Indebtedness which default shall have resulted in such Indebtedness becoming or being declared due and payable prior to the date on which it would otherwise have become due and payable, without
such Indebtedness having been discharged, or such acceleration having been rescinded or annulled within the later of (x) the period specified in such instrument and (y) 15 days after written notice to the Issuer by the Trustee or Holders of at
least 25% of the aggregate principal amount of the Securities of such series then Outstanding. 
 ARTICLE SIX 

Amendments and Waivers 

Section 6.1. Modification and Amendment with Consent of Holders of the Notes. Except as provided below,
Section 902 of the Original Indenture shall be applicable to the Notes. After the Issuer’s obligation to purchase the Notes arises under Article Three of this Sixth Supplemental Indenture, the Issuer shall not, without
the consent of each of the Holders of the then Outstanding Notes, amend, change or modify in any material respect the Issuer’s obligation to make and consummate a Change of Control Offer in the event of a Change of Control Triggering Event or,
after such Change of Control Triggering Event has occurred, modify any of the provisions or definitions with respect thereto. 

Section 6.2. Modification and Amendment without Consent of Holders of the Notes. Except as provided below,
Section 901 of the Original Indenture shall be applicable to the Notes. For purposes of the Notes, pursuant to Section 301(15) of the Original Indenture, Sections 901(8)
and 901(9) of the Original Indenture is hereby amended by deleting such sections in their entirety and substituting in lieu thereof the following as Sections 901(8), 901(9) and 901(10): 

“(8) to make any change that would provide any additional rights or benefits to the Holders of the Securities of all or
any series (including to secure the Securities of such series, add guarantees with respect thereto, transfer any property to or with the Trustee, add to the Company’s covenants for the benefit of the Holders of the Securities of such series,
add any additional Events of Default, or surrender any right or power conferred upon the Company); 

  
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 (9) to make any other change hereunder that does not adversely affect the
legal rights hereunder of any Holder of the Securities of any series in any respect; or 
 (10) supplement any provision of
this Indenture as shall be necessary to permit or facilitate the defeasance or discharge of the Securities of all or any series in accordance with this Indenture; provided that such action shall not adversely affect the interests of any Holder of
the Securities of any series in any material respect.” 
 ARTICLE SEVEN 

Covenants 

Section 7.1. Covenants. For purposes of the Notes, pursuant to Section 301(15) of the Original
Indenture, Article 10 of the Original Indenture is hereby supplemented by incorporating therein the following additional covenants which the Issuer shall observe solely for the benefit of the Holders for so long as any Note is Outstanding: 

(a) Limitation on Mortgages and Liens. The Issuer will not at any time directly or indirectly create or assume and will not cause or
permit a Subsidiary directly or indirectly to create or assume, otherwise than in favor of the Issuer or a Wholly-Owned Subsidiary, any mortgage, pledge or other lien or encumbrance upon any Principal Facility or any interest it may have therein or
upon any stock of any Subsidiary or any indebtedness of any Subsidiary to the Issuer or any other Subsidiary, whether now owned or hereafter acquired, without making effective provision (and the Issuer covenants that in such case it will make or
cause to be made, effective provision) whereby the Notes and any other indebtedness of the Issuer then entitled thereto shall be secured by such mortgage, pledge, lien or encumbrance equally and ratably with any and all other obligations and
indebtedness thereby secured, so long as any such other obligations and indebtedness shall be so secured (provided, that for the purpose of providing such equal and ratable security, the principal amount of Discount Securities shall be such portion
of the principal amount as may be specified in the terms of that series); provided, however, that the foregoing covenant shall not be applicable to the following: 

(i) (A) any mortgage, pledge or other lien or encumbrance on any such property hereafter acquired or constructed by the
Issuer or a Subsidiary, or on which property so constructed is located, and created prior to, contemporaneously with or within 360 days after, such acquisition or construction or the commencement of commercial operation of such property to secure or
provide for the payment of any part of the purchase or construction price of such property, or (B) the acquisition by the Issuer or a Subsidiary of such property subject to any mortgage, pledge, or other lien or encumbrance upon such property
existing at the time of acquisition thereof, whether or not assumed by the Issuer or such Subsidiary, or (C) any mortgage, pledge, or other lien or encumbrance existing on the property, shares of stock or indebtedness of a corporation at the
time such corporation shall become a Subsidiary, or (D) any conditional sales agreement or other title retention agreement with respect to any property hereafter acquired or constructed; provided that, in the case of
subclauses (A) through (D) of this clause (i), the lien of any such mortgage, pledge or other lien does not spread to property owned prior to such acquisition or construction or to
other property thereafter acquired or constructed other than additions to such acquired or constructed property and other than property on which property so constructed is located; and provided, further, that if a firm commitment from
a bank, 

  
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insurance company or other lender or investor (not including the Issuer, a Subsidiary or an Affiliate of the Issuer) for the financing of the acquisition or construction of property is made prior
to, contemporaneously with or within the 360-day period hereinabove referred to, the applicable mortgage, pledge, lien or encumbrance shall be deemed to be permitted by this
clause (i) whether or not created or assumed within such period; 
 (ii) any mortgage, pledge or
other lien or encumbrance created for the sole purpose of extending, renewing or refunding any mortgage, pledge, lien or encumbrance permitted by clause (i) of this subsection (a); provided,
however, that the principal amount of indebtedness secured thereby shall not exceed the principal amount of indebtedness so secured at the time of such extension, renewal or refunding and that such extension, renewal or refunding mortgage,
pledge, lien or encumbrance shall be limited to all or any part of the same property that secured the mortgage, pledge or other lien or encumbrance extended, renewed or refunded; 

(iii) liens for taxes or assessments or governmental charges or levies not then due and delinquent or the validity of which is
being contested in good faith, and against which an adequate reserve has been established; liens on any such property created in connection with pledges or deposits to secure public or statutory obligations or to secure performance in connection
with bids or contracts; materialmen’s, mechanics’, carrier’s, workmen’s, repairmen’s or other like liens; or liens on any such property created in connection with deposits to obtain the release of such liens; liens on any
such property created in connection with deposits to secure surety, stay, appeal or customs bonds; liens created by or resulting from any litigation or legal proceeding which is currently being contested in good faith by appropriate proceedings;
leases and liens, rights of reverter and other possessory rights of the lessor thereunder; zoning restrictions, easements, rights-of-way or other restrictions on the use
of real property or minor irregularities in the title thereto; and any other liens and encumbrances similar to those described in this clause (iii), the existence of which does not, in the opinion of the Issuer, materially
impair the use by the Issuer or a Subsidiary of the affected property in the operation of the business of the Issuer or a Subsidiary, or the value of such property for the purposes of such business; 

(iv) any contracts for production, research or development with or for the Government, directly or indirectly, providing for
advance, partial or progress payments on such contracts and for a lien, paramount to all other liens, upon money advanced or paid pursuant to such contracts, or upon any material or supplies in connection with the performance of such contracts to
secure such payments to the Government; and liens or other evidences of interest in favor of the Government, paramount to all other liens, on any equipment, tools, machinery, land or buildings hereafter constructed, installed or purchased by the
Issuer or a Subsidiary primarily for the purpose of manufacturing or producing any product or performing any development work, directly or indirectly, for the Government to secure indebtedness incurred and owing to the Government for the
construction, installation or purchase of such equipment, tools, machinery, land or buildings. For the purpose of this clause (iv), “Government” shall mean the Government of the United States of America and
any department, agency or political subdivision thereof and the government of any foreign country with which the Issuer or its Subsidiaries is permitted to do business under applicable law and any department, agency or political subdivision thereof;

 (v) any mortgage, pledge or other lien or encumbrance created after the date of this Sixth Supplemental Indenture on any
property leased to or purchased by the Issuer or a Subsidiary after that date and securing, directly or indirectly, obligations issued by a state, a territory or a possession of the United States, or any political subdivision of any of the
foregoing, or the District of Columbia, to finance the cost of acquisition or cost of construction of such property, provided that the interest paid on such obligations is entitled to be excluded from gross income of the recipient pursuant to
Section 103(a) of the Internal Revenue Code of 1986, as amended (or any successor to such provision), as in effect at the time of the issuance of such obligations; 

  
 12 

 (vi) any mortgage, pledge or other lien or encumbrance on any property now
owned or hereafter acquired or constructed by the Issuer or a Subsidiary, or on which property so owned, acquired or constructed is located, to secure or provide for the payment of any part of the construction price or cost of improvements of such
property, and created prior to, contemporaneously with or within 360 days after, such construction or improvement; provided, that if a firm commitment from a bank, insurance company or other lender or investor (not including the Issuer, a Subsidiary
or an Affiliate of the Issuer) for the financing of the acquisition or construction of property is made prior to, contemporaneously with or within the 360-day period hereinabove referred to, the applicable
mortgage, pledge, lien or encumbrance shall be deemed to be permitted by this clause (vi) whether or not created or assumed within such period; and 

(vii) any mortgage, pledge or other lien or encumbrance not otherwise permitted under this
Section 7.1(a); provided, the aggregate amount of indebtedness secured by all such mortgages, pledges, liens or encumbrances, together with the aggregate sale price of property involved in sale and leaseback
transactions not otherwise permitted except under Section 7.1(b)(i) does not exceed 15% of Consolidated Stockholders’ Equity. 

(b) Limitation on Sale and Leaseback Transactions. The Issuer will not, and will not permit any Subsidiary to, sell or transfer (except
to the Issuer or one or more Wholly-Owned Subsidiaries, or both) any Principal Facility owned by it on the date of this Sixth Supplemental Indenture with the intention of taking back a lease of such property, other than a lease for a temporary
period (not exceeding 36 months) with the intent that the use by the Issuer or such Subsidiary of such property will be discontinued at or before the expiration of such period, unless either: 

(i) the sum of the aggregate sale price of property involved in sale and leaseback transactions not otherwise permitted
pursuant to this Section 7.1(b) plus the aggregate amount of indebtedness secured by all mortgages, pledges, liens and encumbrances not otherwise permitted except under Section 7.1(a)(vii) does not
exceed 15% of Consolidated Stockholders’ Equity; or 
 (ii) the Issuer within 120 days after the sale or transfer shall
have been made by the Issuer or by any such Subsidiary applies an amount equal to the greater of (A) the net proceeds of the sale of the Principal Facility sold and leased back pursuant to such arrangement or (B) the fair market value of
the Principal Facility sold and leased back at the time of entering into such arrangement (which may be conclusively determined by the Board of Directors of the Issuer) to the retirement of Securities or other Funded Debt of the Issuer ranking on a
parity with the Securities; provided, that the amount required to be applied to the retirement of Outstanding Securities or other Funded Debt of the Issuer pursuant to this subclause (B) shall be reduced by (1) the
principal amount (or, if the Securities of that series are Discount Securities, such portion of the principal amount as may be specified in the terms of that series) of any Securities delivered within 120 days after such sale to the Trustee for
retirement and cancellation, and (2) the principal amount of any other Funded Debt of the Issuer ranking on a parity with the Securities voluntarily retired by the Issuer within 120 days after such sale. Notwithstanding the foregoing, no
retirement referred to in this clause (ii) may be effected by payment at maturity or pursuant to any mandatory sinking fund payment or any mandatory prepayment provision. 

  
 13 

 (c) Provision of Financial Information. For purposes of the Notes, pursuant to
Section 301(15) of the Original Indenture, Section 703 of the Original Indenture is hereby amended by deleting such Section in its entirety and substituting in lieu thereof the following: 

(i) For so long as any Notes are Outstanding, if the Issuer is subject to Section 13(a) or 15(d) of the Exchange Act or
any successor provision, the Issuer will deliver to the Trustee the annual reports, quarterly reports and other documents which the Issuer is required to file with the Commission pursuant to Section 13(a) or 15(d) or any successor provision,
within 15 days after the date that the Issuer files the same with the Commission. If the Issuer is not subject to Section 13(a) or 15(d) of the Exchange Act or any successor provision, and for so long as any Notes are Outstanding, the
Issuer will deliver to the Trustee the quarterly and annual financial statements and accompanying Item 303 of Regulation S-K (“management’s discussion and analysis of financial condition and results
of operations”) disclosure that would be required to be contained in annual reports on Form 10-K and quarterly reports on Form 10-Q required to be filed with the
Commission if the Issuer were subject to Section 13(a) or 15(d) of the Exchange Act or any successor provision, within 15 days of the filing date that would be applicable to the Issuer at that time pursuant to applicable SEC rules and
regulations. 
 (ii) Reports and other documents filed by the Issuer with the Commission and publicly available via the EDGAR
system or on the Issuer’s website will be deemed to be delivered to the Trustee as of the time such filing is publicly available via EDGAR or on the Issuer’s website for purposes of this covenant; provided, however, that the Trustee
shall have no obligation whatsoever to determine whether or not such information, documents or reports have been filed or are publicly available via EDGAR or on the Issuer’s website. Delivery of such reports, information and documents to the
Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuer’s
compliance with any of its covenants relating to the Notes (as to which the Trustee is entitled to rely exclusively on an Officers’ Certificate). 

Section 7.2. Additional Definitions. For purposes of the covenants set forth in Section 7.1 hereof,
the following terms are applicable: 
 “Consolidated Stockholders’ Equity”, at any time, means the total
stockholders’ equity of the Issuer and its consolidated Subsidiaries, determined on a consolidated basis in accordance with generally accepted accounting principles, as of the end of the most recently completed fiscal quarter of the Issuer for
which financial information is then available. 
 “Discount Security” means any Security which is issued with
“original issue discount” within the meaning of Section 1273(a) of the Internal Revenue Code of 1986, as amended, and the regulations thereunder. 

“Funded Debt” means any indebtedness for money borrowed, created, issued, incurred, assumed or guaranteed which would, in
accordance with generally accepted accounting practice, be classified as long-term debt, but in any event including all indebtedness for money borrowed, whether secured or unsecured, maturing more than one year or extendible at the option of the
obligor to a date more than one year, after the date of determination thereof (excluding any amount thereof included in current liabilities). 

“Principal Facility” means the real property, fixtures, machinery and equipment relating to any facility owned by the Issuer
or any Subsidiary, except for any facility that, in the opinion of the Board of Directors, is not of material importance to the business conducted by the Issuer and its Subsidiaries, taken as a whole. 

  
 14 

 “Wholly-Owned Subsidiary” means a Subsidiary of which all of the
outstanding voting stock (other than directors’ qualifying shares) is at the time, directly or indirectly, owned by the Issuer, or by one or more Wholly-Owned Subsidiaries of the Issuer or by the Issuer and one or more Wholly-Owned
Subsidiaries. 
 ARTICLE EIGHT 

Miscellaneous 

Section 8.1. Effect of Supplemental Indenture. Except as expressly modified or amended hereby, the Original Indenture
continues in full force and effect and is in all respects confirmed, ratified and preserved. This Sixth Supplemental Indenture and all its provisions shall be deemed a part of the Original Indenture in the manner and to the extent herein and therein
provided. 
 Section 8.2. Application of Sixth Supplemental Indenture. Each and every term and condition contained in this
Sixth Supplemental Indenture that modifies, amends or supplements the terms and conditions of the Original Indenture shall apply only to the Notes created hereby and not to any existing or future series of Securities established under the Original
Indenture. 
 Section 8.3. Benefits of Sixth Supplemental Indenture. Nothing contained in this Sixth Supplemental Indenture
shall be construed to confer upon any person other than a Holder of the Notes, the Issuer, the Trustee and the calculation agent any right or interest to avail itself, himself or herself as the case may be, of any benefit under any provision of the
Original Indenture or this Sixth Supplemental Indenture. 
 Section 8.4. Effective Date. This Sixth Supplemental Indenture
shall be effective as of the date first above written and upon the execution and delivery hereof by each of the parties hereto. 

Section 8.5. Governing Law. This Sixth Supplemental Indenture shall be governed by, and construed in accordance with, the
laws of the State of New York. 
 Section 8.6. Counterparts. This Sixth Supplemental Indenture may be executed in any
number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

Section 8.7. Effect of Headings. The Article and Section headings herein are for convenience only and shall not affect the
construction hereof. 
 Section 8.8. Separability Clause. In case any provision in this Sixth Supplemental Indenture or in
the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 8.9. Satisfaction and Discharge. The Issuer shall be deemed to have satisfied and discharged all of its obligations
under the Indenture upon compliance with the provisions of Section 401 of the Original Indenture. 
 Section 8.10. No
Representations. The Trustee makes no representation or warranty as to the validity or sufficiency of this Sixth Supplemental Indenture. 

  
 15 

 Section 8.11. Special, Indirect and Consequential Damages. In no event
shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such
loss or damage and regardless of the form of action. 
 Section 8.12. Waiver of Jury Trial. EACH OF THE ISSUER AND THE
TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS SIXTH SUPPLEMENTAL INDENTURE, THE INDENTURE, THE NOTES OR THE
TRANSACTION CONTEMPLATED HEREBY. 
 Section 8.13. Force Majeure. In no event shall the Trustee be responsible or liable for
any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil
or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable
efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

Section 8.14. Notices and Instructions to Trustee. The Trustee agrees to accept and act upon instructions or directions
pursuant to this Sixth Supplemental Indenture sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic methods, provided, however, that the Trustee shall have received
an incumbency certificate listing persons designated to give such instructions or directions and containing specimen signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be
added or deleted from the listing. If the Issuer elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act
upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and
compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The Issuer agrees to assume all risks arising out of the use of such electronic methods to submit instructions
and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. 

  
 16 

 IN WITNESS WHEREOF, the parties hereto have caused this Sixth Supplemental Indenture to be
duly executed as of the date first above written. 
  

			
	 EQUIFAX INC.
 as
Issuer

		
	By:	 	 /s/ John W. Gamble, Jr.

		 	Name: John W. Gamble, Jr.
		 	Title: Corporate Vice President and Chief Financial Officer
	
	 U.S. BANK NATIONAL ASSOCIATION
 as
Trustee

		
	By:	 	 /s/ Stephanie Cox

		 	Name: Stephanie Cox
		 	Title: Vice President

 [Equifax Inc. – Sixth Supplemental Indenture] 

 EXHIBIT A 

[FACE OF NOTE] 
 THIS NOTE
IS A SECURITY IN GLOBAL FORM (“GLOBAL SECURITY”) WITHIN THE MEANING OF SECTION 203 OF THE ORIGINAL INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (THE “DEPOSITORY”), OR A NOMINEE OF THE DEPOSITORY, WHICH MAY BE TREATED BY THE ISSUER, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 UNLESS AND UNTIL THIS CERTIFICATE IS EXCHANGED IN WHOLE OR IN PART
FOR NOTES IN CERTIFICATED FORM, THIS CERTIFICATE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE THEREOF OR BY A NOMINEE THEREOF TO DTC OR ANOTHER NOMINEE OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR OF DTC OR A NOMINEE OF SUCH
SUCCESSOR. 

  
 A-1 

 NO. [●] 
  

			
	CUSIP NO. 294429 AQ8	  	$[●]
	ISIN NO. US294429AQ85	  	

 EQUIFAX INC. 

2.600% Senior Notes due 2024 

Equifax Inc., a Georgia corporation (the “Issuer,” which term includes any successor under the Original Indenture
hereinafter referred to), for value received, hereby promises to pay to Cede & Co. or its registered assigns, the principal sum of [●] Dollars on December 1, 2024 (the “Maturity Date”), and to pay interest thereon from
November 19, 2019 (or from the most recent interest payment date to which interest has been paid or duly provided for) in U.S. dollars semi-annually in arrears on June 1 and December 1 of each year, each, an “Interest Payment
Date”, commencing on June 1, 2020, and on the Maturity Date, at the rate of 2.600% per annum, until payment of said principal sum has been made or duly provided for. 

The interest so payable and punctually paid or duly provided for on any Interest Payment Date and on the Maturity Date will be paid to the
Holder in whose name this Note (or one or more predecessor Notes) is registered at the close of business on the “Record Date” for such payment, which will be May 15 and November 15 (regardless of whether such day is a Business
Day (as defined below)). Any interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such record date, and shall be paid to the Holder in whose name this Note (or one or more predecessor Notes) is
registered at the close of business on a subsequent record date for the payment of such defaulted interest (which shall be not more than 15 days and not less than 10 days prior to the date of the payment of such defaulted interest) established by
notice given by mail by or on behalf of the Issuer to the Holders of the Notes not less than 10 days preceding such subsequent record date. Interest on this Note will be computed on the basis of a 360-day year
of twelve 30-day months. 
 The principal of this Note payable on the Maturity Date will be paid
against presentation and surrender of this Note at the office or agency of the Issuer maintained for that purpose in The Borough of Manhattan, The City of New York. The Issuer hereby initially designates U.S. Bank Global Corporate Trust Services
– New York, 100 Wall Street, Suite 1600, New York, NY 10005 as the office to be maintained by it where Notes may be presented for payment, registration of transfer, or exchange and where notices or demands to or upon the Issuer in respect of
the Notes or the Original Indenture referred to on the reverse hereof may be served. 
 Interest payable on this Note on any Interest
Payment Date and on the Maturity Date, as the case may be, will be the amount of interest accrued from and including the immediately preceding Interest Payment Date (or from and including November 19, 2019, in the case of the initial Interest
Payment Date) to but excluding the applicable Interest Payment Date or the Maturity Date, as the case may be. If any Interest Payment Date or the Maturity Date falls on a day that is not a Business Day (as defined below), the required payment of
interest or principal or both, as the case may be, will be made on the next succeeding Business Day with the same force and effect as if it were made on the date such payment was due and no interest will accrue on the amount so payable for the
period from and after such Interest Payment Date or the Maturity Date, as the case may be. “Business Day” means any calendar day, that is not a Saturday, Sunday or legal holiday in New York, New York and on which commercial banks are open
for business in New York, New York. 

  
 A-2 

 Payments of principal and interest in respect of this Note will be made by wire transfer of
immediately available funds in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts. 

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes have
the same effect as though fully set forth at this place. 
 This Note shall not be entitled to the benefits of the Original Indenture
referred to on the reverse hereof or be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed by the Trustee under such Indenture. 

  
 A-3 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed manually or by
facsimile by its authorized officers. 
 Dated as of _______ 
  

			
	 EQUIFAX INC.,

as Issuer

		
	By:	 	  

		 	 Name:

		 	 Title:

  
 A-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

							
		 		 	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

				
	Date:_____________	 		 	By:	 	  

		 		 		 	Authorized Signatory

  
 A-5 

 [REVERSE OF NOTE] 

EQUIFAX INC. 
 2.600%
Senior Notes due 2024 
 This security is one of a duly authorized issue of debentures, notes, bonds, or other evidences of indebtedness
of the Issuer (hereinafter called the “Securities”) of the series hereinafter specified, all issued or to be issued under and pursuant to an Indenture dated as of May 12, 2016 (hereinafter called the “Original
Indenture”), duly executed and delivered by the Issuer to U.S. Bank National Association, as Trustee (hereinafter called the “Trustee,” which term includes any successor trustee under the Original Indenture with
respect to the series of Securities of which this Note is a part), and a Sixth Supplemental Indenture, dated as of November 19, 2019, between the Issuer and the Trustee (the “Sixth Supplemental Indenture;” the Original
Indenture as modified and supplemented by the Sixth Supplemental Indenture is herein called the “Indenture”) to which the Original Indenture and all indentures supplemental thereto relating to this security reference is hereby made
for a description of the rights, limitations of rights, obligations, duties, and immunities thereunder of the Trustee, the Issuer, and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and
delivered. Capitalized terms used herein without definition shall have the meanings set forth in the Original Indenture. The Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts,
may mature at different times, may bear interest (if any) at different rates, may be subject to different redemption provisions (if any), and may otherwise vary as provided in the Original Indenture or any indenture supplemental thereto. This
security is one of a series designated as the 2.600% Senior Notes due 2024 of the Issuer (the “Notes”), initially limited in aggregate principal amount to $750,000,000. 

In case an Event of Default with respect to this security shall have occurred and be continuing, the principal hereof together with accrued
interest to the date of declaration, if any, may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect, and subject to the conditions provided in the Original Indenture. 

Except as otherwise may be specified herein or in the Sixth Supplemental Indenture, prior to November 1, 2024, the Issuer shall have the
right to redeem the Notes, in whole or in part, at any time or from time to time, at a redemption price (the “Optional Redemption Price”) equal to the greater of (i) 100% of the principal amount plus accrued and unpaid interest to,
but excluding, the Redemption Date, and (ii) the sum of the present values of the Remaining Scheduled Payments of principal and interest (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual
basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis points, plus accrued and unpaid interest on the
principal amount being redeemed to, but excluding, the Redemption Date. 
 On or after November 1, 2024, the Issuer shall have the
right to redeem the Notes, in whole or in part, at any time or from time to time, at the Issuer’s option, for an amount in cash equal to 100% of the principal amount plus any accrued and unpaid interest on the principal amount being
redeemed to, but excluding the Redemption Date. 
 The Issuer will mail notice of such redemption to the registered holders of the Notes to
be redeemed not less than 15 nor more than 60 days prior to the Redemption Date. If Notes are only partially redeemed pursuant to the Sixth Supplemental Indenture, the Notes to be redeemed will be selected by the Trustee in such manner as in its
sole discretion it shall deem appropriate and fair; provided, that if at the 

  
 A-6 

 
time of redemption the Notes to be redeemed are registered as a Global Note, the Depository shall determine, in accordance with its procedures, the principal amount of the Notes to be redeemed
held by each of its participants that holds a position in such Notes. The Optional Redemption Price shall be paid prior to 12:00 noon, New York time, on the Redemption Date or at such later time on such date as is then permitted by the rules of the
Depository for the Notes (if then registered as a Global Note); provided, that the Issuer shall deposit with the Trustee an amount sufficient to pay the Optional Redemption Price by 10:00 a.m., New York time, on the date such Optional
Redemption Price is to be paid. 
 If a Change of Control Triggering Event occurs, unless the Issuer has exercised its option to redeem the
Notes, the Issuer shall be required to make an offer (the “Change of Control Offer”) to each Holder of the Notes to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that
Holder’s Notes on the terms set forth herein. In the Change of Control Offer, the Issuer shall be required to offer payment in cash equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest,
if any, on the Notes repurchased to the date of repurchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event or, at the Issuer’s option, prior to any Change of Control, but after
public announcement of the transaction that constitutes or may constitute the Change of Control, the Issuer shall mail a notice to Holders of the Notes describing the transaction that constitutes or may constitute the Change of Control Triggering
Event and offering to repurchase such Securities on the date specified in the notice, which date shall be no earlier than 15 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”). The
notice shall, if mailed prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date. 

In order to accept the Change of Control Offer, the Holder must deliver to the Paying Agent, at least three Business Days prior to the Change
of Control Payment Date, this Security together with the form entitled “Option of Holder to Elect Purchase” (which form is annexed hereto) duly completed, or a telegram, telex, facsimile transmission or a letter from a member of a national
securities exchange, or the Financial Industry Regulatory Authority, Inc., or a commercial bank or trust company in the United States setting forth: 

(i) the name of the Holder of the Note; 

(ii) the principal amount of the Note; 

(iii) the principal amount of the Note to be repurchased; 

(iv) the certificate number or a description of the tenor and terms of the Note; 

(v) a statement that the Holder is accepting the Change of Control Offer; and 

(vi) a guarantee that the Note, together with the form entitled “Option of Holder to Elect Purchase” duly completed,
will be received by the Paying Agent at least three Business Days prior to the Change of Control Payment Date. 
 Any exercise by a Holder
of its election to accept the Change of Control Offer shall be irrevocable. The Change of Control Offer may be accepted for less than the entire principal amount of the Notes, but in that event the principal amount of the Notes remaining outstanding
after repurchase must be equal to $2,000 or an integral multiple of $1,000 in excess thereof. On the Change of Control Payment Date, the Issuer shall, to the extent lawful (1) accept for payment all Notes or portions of such Notes properly
tendered pursuant to the Change of Control Offer, (2) deposit with the Paying Agent an amount 

  
 A-7 

 
equal to the Change of Control Payment in respect of all Notes or portions of such Notes properly tendered, and (3) deliver or cause to be delivered to the Trustee the Notes properly
accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of such Notes being repurchased. 

The Issuer shall not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if a third
party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Issuer and the third party purchases all Notes of this series properly tendered and not withdrawn under its offer. In
addition, the Issuer shall not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture with respect to the Notes, other than a default in the payment of the Change of
Control Payment upon a Change of Control Triggering Event. 
 The Issuer shall comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in
connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of the Notes, the
Issuer shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under the Change of Control Offer provisions of the Notes by virtue of any such conflict. 

The following terms have the meanings given to them in this Note: 

“Business Day” means, unless otherwise specified, any calendar day that is not a Saturday, Sunday or legal holiday in New
York, New York and on which commercial banks are open for business in New York, New York. 
 “Change of Control”
means the occurrence of any of the following: (1) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in
Section 13(d)(3) of the Exchange Act) (other than the Issuer or one of its Subsidiaries) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the
Exchange Act), directly or indirectly, of more than 50% of the Issuer’s Voting Stock or other Voting Stock into which the Issuer’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than
number of shares; (2) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of all or substantially all of the assets of the Issuer
and its Subsidiaries, taken as a whole, to one or more “Persons” (other than the Issuer or one of its Subsidiaries); or (3) the first day on which a majority of the members of the Issuer’s Board of Directors are not Continuing
Directors. Notwithstanding the foregoing, a transaction shall not be deemed to involve a Change of Control if (1) the Issuer becomes a direct or indirect Wholly-Owned Subsidiary of a holding company and (2)(A) the direct or indirect holders of
the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Issuer’s Voting Stock immediately prior to that transaction or (B) immediately following that transaction no
“person” (as that term is used in Section 13(d)(3) of the Exchange Act), other than a holding company satisfying the requirements of this sentence, is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock
of such holding company. 
 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a
Rating Event. 
 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent
Investment Banker as having a maturity comparable to the remaining term (“Remaining 

  
 A-8 

 
Life”) of the Notes to be redeemed (assuming that such Notes matured on November 1, 2024) that would be utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes. 

“Comparable Treasury Price” means, with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer
Quotations for such Redemption Date, or (B) if the Independent Investment Banker obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such Quotations or, if only one such Quotation is obtained, such Quotation.

 “Continuing Directors” means, as of any date of determination, any member of the Issuer’s Board of Directors who
(1) was a member of such Board of Directors on the date the Notes were issued or (2) was nominated for election, elected or appointed to such Board of Directors with the approval of a majority of the Continuing Directors who were members
of such Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the Issuer’s proxy statement in which such member was named as a nominee for election as a director, without
objection to such nomination). 
 “Depository” means a clearing agency registered under Section 17A of the Exchange
Act that is designated to act as Depository for the Notes. 
 “Independent Investment Banker” means an independent
investment banking institution of national standing appointed by the Issuer, which may be one of the Reference Treasury Dealers. 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, and the equivalent investment grade credit rating from any additional rating agency or rating agencies selected by the Issuer. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if any of Moody’s or S&P ceases to
rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) of the
Exchange Act selected by the Issuer (as certified by a resolution of the Issuer’s Board of Directors) as a replacement agency for Moody’s or S&P, or all of them, as the case may be. 

“Rating Event” means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an
Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period shall be extended so long as the rating of the Notes is
under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (1) the occurrence of a Change of Control and (2) public notice of the occurrence of a Change of Control or the
Issuer’s intention to effect a Change of Control. 
 “Redemption Date” means, with respect to any optional redemption
of Notes pursuant to Section 1.6 of the Sixth Supplemental Indenture, the date fixed for such redemption pursuant to the Original Indenture and such Notes. 

“Reference Treasury Dealer” means BofA Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, a primary
U.S. government securities dealer in New York City (a “Primary Treasury Dealer”) selected by SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC and their respective successors; provided that if any of the foregoing or any
such successor shall cease to be a Primary Treasury Dealer, the Issuer will substitute therefor another Primary Treasury Dealer. 

  
 A-9 

 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Independent Investment Banker by the Reference Treasury Dealer at 3:30 p.m. on the third Business Day preceding such Redemption Date. 

“Remaining Scheduled Payments” means, with respect to the Notes to be redeemed, the remaining scheduled payments of the
principal thereof and interest thereon that would be due after the related Redemption Date for such redemption (assuming that such notes matured on November 1, 2024); provided, however, that if such Redemption Date is not an interest payment
date, with respect to the Notes, the amount of the next succeeding scheduled interest payment thereon will be deemed to be reduced by the amount of interest accrued thereon to such Redemption Date. 

“S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc. 

“Treasury Rate” means, with respect to any Redemption Date for the Notes: 

 

	 	(i)	 the yield, under the heading which represents the average for the immediately preceding week, appearing in, or
available through, the most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System (or companion online data resource
published by the Board of Governors of the Federal Reserve System) and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the
maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be
determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month), 

  

	 	(ii)	 if the period from the Redemption Date to the Maturity Date of the Notes to be redeemed is less than one year,
the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used, or 

  

	 	(iii)	 if such release (or any successor release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate shall be calculated by the Issuer on the third Business Day preceding such Redemption Date. The Trustee shall not be responsible for any such calculation.

 “Voting Stock” means, with respect to any specified “person” (as that term is used in
Section 13(d)(3) of the Exchange Act) as of any date, the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person. 

The Original Indenture and Sixth Supplemental Indenture contain provisions permitting the Issuer and the Trustee, with the consent of the
Holders of not less than a majority of the aggregate principal amount of all Outstanding Securities of each series to be affected (voting separately), evidenced as provided in the Original Indenture, to execute supplemental indentures for the
purpose of adding any 

  
 A-10 

 
provisions to or changing in any manner or eliminating any of the provisions of the Original Indenture or of any supplemental indenture or modifying in any manner the rights of the Holders of the
Securities of each series; provided that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security of each such series affected by such supplemental indenture, (1) reduce the percentage of
Outstanding Securities necessary to modify or amend the Original Indenture, to waive compliance with certain provisions of the Original Indenture or certain defaults and their consequences provided in the Original Indenture, or to reduce the quorum
or change voting requirements set forth in the Original Indenture; (2) reduce the rate of, or change or have the effect of changing the time for payment of Interest, including Defaulted Interest, on any Security; (3) reduce the principal
amount of, or change or have the effect of changing the Stated Maturity of any Security, or adversely change the date on which any Security may be subject to redemption or reduce the Redemption Price therefor; (4) make any Security payable in
currency other than that stated in such Security or change the place of payment of any Security from that stated in such Security or in the Original Indenture; (5) make any change in provisions of the Original Indenture protecting the right of
each Holder of a Security to receive payment of principal of and Interest on such Security on or after the due date thereof or to bring suit to enforce such payment, or permitting Holders holding a majority in principal amount of the Outstanding
Securities to waive defaults or Events of Default; (6) make any change to or modify the ranking of any Security that would adversely affect the Holders of such Security; (7) modify any of Section 902 of the Original Indenture or any
of the second paragraph of Section 507 of the Original Indenture, except to increase the required percentage to effect the action or to provide that certain other provisions may not be modified or waived without the consent of the Holders of
each of the Outstanding Securities affected thereby; or (8) after the Issuer’s obligation to purchase the Notes arises under Article Three of the Sixth Supplemental Indenture, the Issuer shall not, without the consent of each of the
Holders of the then Outstanding Notes, amend, change or modify in any material respect the Issuer’s obligation to make and consummate a Change of Control Offer in the event of a Change of Control Triggering Event or, after such Change of
Control Triggering Event has occurred, modify any of the provisions or definitions with respect thereto. 
 It is also provided in the
Original Indenture that, with respect to certain defaults or Events of Default regarding the Securities of any series, the Holders of a majority in aggregate principal amount outstanding of the Securities of such series (or, in the case of certain
defaults or Events of Default, all series of Securities) may on behalf of the Holders of all the Securities of such series (or all of the Securities, as the case may be) waive any such past default or Event of Default and its consequences, prior to
any declaration accelerating the maturity of such Securities, or, subject to certain conditions, may rescind a declaration of acceleration and its consequences with respect to such Securities. Any such consent or waiver by the Holder of this
Security (unless revoked as provided in the Original Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and owners of the security and any securities that may be issued in exchange or substitution herefor,
irrespective of whether or not any notation thereof is made upon this security or such other securities. 
 No reference herein to the
Original Indenture and no provision of this security or of the Original Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Security in the manner, at the
respective times, at the rate and in the coin or currency herein prescribed. 
 This Security is issuable only in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Securities may be exchanged for a like aggregate principal amount of securities of this series of other authorized denominations at the office or agency of the
Issuer in The Borough of Manhattan, The City of New York, in the manner and subject to the limitations provided in the Original Indenture, but without the payment of any service charge except for any tax or other governmental charge imposed in
connection therewith. 

  
 A-11 

 Upon due presentment for registration of transfer of Securities at the office or agency of
the Issuer in The Borough of Manhattan, The City of New York, one or more new Securities of the same series of authorized denominations in an equal aggregate principal amount will be issued to the transferee in exchange therefor, subject to the
limitations provided in the Original Indenture, without charge except for any tax or other governmental charge imposed in connection therewith. 

The Issuer, the Trustee or any authorized agent of the Issuer or the Trustee may deem and treat the Person in whose name this security is
registered as the absolute owner of this security (whether or not this security shall be overdue and notwithstanding any notation of ownership or other writing hereon), for the purpose of receiving payment of, or on account of, the principal hereof
or Optional Redemption Price, if any, and subject to the provisions on the face hereof, interest hereon, and for all other purposes, and neither the Issuer nor the Trustee nor any authorized agent of the Issuer or the Trustee shall be affected by
any notice to the contrary. 
 The Original Indenture and each Security shall be deemed to be a contract under the laws of the State of New
York, and for all purposes shall be construed in accordance with the laws of such state, except as may otherwise be required by mandatory provisions of law. 

Capitalized terms used herein which are not otherwise defined shall have the respective meanings assigned to them in the Original Indenture
and all indentures supplemental thereto relating to this security. 

  
 A-12 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuer pursuant to Article Three of the Sixth Supplemental Indenture, check the box:
☐ 
 If you want to elect to have only part of this Note purchased by the Issuer pursuant to Article Three of the Sixth Supplemental
Indenture, state the amount in principal amount that you elect to have purchased: $ 
  

			
	 Dated:_____________
	  	 Your Signature:________________________

		  	 (Sign exactly as your name appears on the

		  	 other side of this Note.)

	 Signature
Guarantee:                                       
                                         
                                         
                                         
              

	 (Signature must be guaranteed)

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

  
 A-13Exhibit 4.1

      

      
        

    

     

    

    GLOBAL SHIP LEASE, INC.

    SENIOR INDENTURE

    Dated as of November 19, 2019

    Wilmington Savings Fund Society, FSB

    Trustee

    
      
 

    
      

      

      

      

    

    
      
        

    

    
    TABLE OF CONTENTS

    Page

    ARTICLE 1

      Definitions and Incorporation by Reference

    	
            Section 1.01.  Definitions

          	
            1

          
	
            Section 1.02.  Other
                Definitions

          	
            5

          
	
            Section 1.03.  Incorporation
                by Reference of Trust Indenture Act

          	
            5

          
	
            Section 1.04.  Rules of
                Construction

          	
            6

          

    ARTICLE 2

      The Securities

    	
            Section 2.01.  Issuable in
                Series

          	
            6

          
	
            Section 2.02.  Establishment
                of Terms of Series of Securities

          	
            7

          
	
            Section 2.03.  Execution and
                Authentication

          	
            9

          
	
            Section 2.04.  Registrar and
                Paying Agent

          	
            10

          
	
            Section 2.05.  Paying Agent to
                Hold Money in Trust

          	
            10

          
	
            Section 2.06.  Securityholder
                Lists

          	
            11

          
	
            Section 2.07.  Transfer and
                Exchange

          	
            11

          
	
            Section 2.08.  Mutilated,
                Destroyed, Lost and Stolen Securities

          	
            11

          
	
            Section 2.09.  Outstanding
                Securities

          	
            12

          
	
            Section 2.10.  Treasury
                Securities

          	
            13

          
	
            Section 2.11.  Temporary
                Securities

          	
            13

          
	
            Section 2.12.  Cancellation

          	
            13

          
	
            Section 2.13.  Defaulted
                Interest

          	
            14

          
	
            Section 2.14.  Global
                Securities

          	
            14

          
	
            Section 2.15.  CUSIP Numbers

          	
            16

          

    ARTICLE 3

      Redemption

    	
            Section 3.01.  Notice to
                Trustee

          	
            16

          
	
            Section 3.02.  Selection of
                Securities to be Redeemed

          	
            17

          
	
            Section 3.03.  Notice of
                Redemption

          	
            17

          
	
            Section 3.04.  Effect of
                Notice of Redemption

          	
            17

          
	
            Section 3.05.  Deposit of
                Redemption Price

          	
            18

          
	
            Section 3.06.  Securities
                Redeemed in Part

          	
            18

          

    ARTICLE 4

      Covenants

    	
            Section 4.01.  Payment of
                Principal and Interest

          	
            18

          
	
            Section 4.02.  SEC Reports

          	
            18

          
	
            Section 4.03.  Compliance
                Certificate

          	
            19

          
	
            Section 4.04.  Stay, Extension
                and Usury Laws

          	
            19

          
	
            Section 4.05.  Corporate
                Existence

          	
            20

          
	
            Section 4.06.  Taxes

          	
            20

          
	
            Section 4.07.  Additional
                Interest Notice

          	
            20

          
	
            Section 4.08.  Further
                Instruments and Acts

          	
            20

          

    

    

    
      i

      
        

    

    

    

    ARTICLE 5

      Successors

    	
            Section 5.01.  When Company
                May Merge, Etc

          	
            20

          
	
            Section 5.02.  Successor
                Corporation Substituted

          	
            21

          

    ARTICLE 6

      Defaults and Remedies

    	
            Section 6.01.  Events of
                Default

          	
            21

          
	
            Section 6.02.  Acceleration of
                Maturity; Rescission and Annulment

          	
            23

          
	
            Section 6.03.  Collection of
                Indebtedness and Suits for Enforcement by Trustee

          	
            24

          
	
            Section 6.04.  Trustee May
                File Proofs of Claim

          	
            25

          
	
            Section 6.05.  Trustee May
                Enforce Claims Without Possession of Securities

          	
            26

          
	
            Section 6.06.  Application of
                Money Collected

          	
            26

          
	
            Section 6.07.  Limitation on
                Suits

          	
            26

          
	
            Section 6.08.  Unconditional
                Right of Holders to Receive Principal and Interest

          	
            27

          
	
            Section 6.09.  Restoration of
                Rights and Remedies

          	
            27

          
	
            Section 6.10.  Rights and
                Remedies Cumulative

          	
            27

          
	
            Section 6.11.  Delay or
                Omission Not Waiver

          	
            27

          
	
            Section 6.12.  Control by
                Holders

          	
            27

          
	
            Section 6.13.  Waiver of Past
                Defaults

          	
            28

          
	
            Section 6.14.  Undertaking for
                Costs

          	
            28

          

    ARTICLE 7

      Trustee

    	
            Section 7.01.  Duties of
                Trustee

          	
            29

          
	
            Section 7.02.  Rights of
                Trustee

          	
            30

          
	
            Section 7.03.  Individual
                Rights of Trustee

          	
            31

          
	
            Section 7.04.  Trustee’s
                Disclaimer

          	
            31

          
	
            Section 7.05.  Notice of
                Defaults

          	
            31

          
	
            Section 7.06.  Reports by
                Trustee to Holders

          	
            31

          
	
            Section 7.07.  Compensation
                and Indemnity

          	
            31

          
	
            Section 7.08.  Replacement of
                Trustee

          	
            32

          
	
            Section 7.09.  Successor
                Trustee by Merger, etc

          	
            33

          
	
            Section 7.10.  Eligibility;
                Disqualification

          	
            33

          
	
            Section 7.11.  Preferential
                Collection of Claims Against Company

          	
            33

          

    

    

    
      ii

      
        

    

    

    

    ARTICLE 8

      Satisfaction and Discharge; Defeasance

    	
            Section 8.01.  Satisfaction
                and Discharge of Indenture

          	
            34

          
	
            Section 8.02.  Application of
                Trust Funds; Indemnification

          	
            35

          
	
            Section 8.03.  Legal
                Defeasance of Securities of any Series

          	
            35

          
	
            Section 8.04.  Covenant
                Defeasance

          	
            37

          
	
            Section 8.05.  Repayment to
                Company

          	
            38

          

    ARTICLE 9

      Amendments and Waivers

    	
            Section 9.01.  Without Consent
                of Holders

          	
            38

          
	
            Section 9.02.  With Consent of
                Holders

          	
            39

          
	
            Section 9.03.  Limitations

          	
            39

          
	
            Section 9.04.  Compliance with
                Trust Indenture Act

          	
            40

          
	
            Section 9.05.  Revocation and
                Effect of Consents

          	
            40

          
	
            Section 9.06.  Notation on or
                Exchange of Securities

          	
            41

          
	
            Section 9.07.  Trustee
                Protected

          	
            41

          
	
            Section 9.08.  Effect of
                Supplemental Indenture

          	
            41

          

    ARTICLE 10

      Miscellaneous

    	
            Section 10.01.  Trust
                Indenture Act Controls

          	
            41

          
	
            Section 10.02.  Notices

          	
            41

          
	
            Section 10.03.  Communication
                by Holders with Other Holders

          	
            43

          
	
            Section 10.04.  Certificate
                and Opinion as to Conditions Precedent

          	
            43

          
	
            Section 10.05.  Statements
                Required in Certificate or Opinion

          	
            43

          
	
            Section 10.06.  Record Date
                for Vote or Consent of Holders

          	
            44

          
	
            Section 10.07.  Rules by
                Trustee and Agents

          	
            44

          
	
            Section 10.08.  Legal Holidays

          	
            44

          
	
            Section 10.09.  No Recourse
                Against Others

          	
            44

          
	
            Section 10.10.  Counterparts

          	
            44

          
	
            Section 10.11.  Governing Laws
                and Submission to Jurisdiction

          	
            44

          
	
            Section 10.12.  No Adverse
                Interpretation of Other Agreements

          	
            45

          
	
            Section 10.13.  Successors

          	
            45

          
	
            Section 10.14.  Severability

          	
            45

          
	
            Section 10.15.  Table of
                Contents, Headings, Etc

          	
            45

          
	
            Section 10.16.  Securities in
                a Foreign Currency or in ECU

          	
            45

          
	
            Section 10.17.  Judgment
                Currency

          	
            46

          
	
            Section 10.18.  Compliance
                with Applicable Anti-Terrorism and Money Laundering Regulations

          	
            47

          

    

    

    
      iii

      
        

    

    

    

    ARTICLE 11

      Sinking Funds

    	
            Section 11.01.  Applicability
                of Article

          	
            47

          
	
            Section 11.02.  Satisfaction
                of Sinking Fund Payments with Securities

          	
            47

          
	
            Section 11.03.  Redemption of
                Securities for Sinking Fund

          	
            48

          

    

    

    
      iv

      
        

    

    

    

    Reconciliation and tie between Trust Indenture Act of 1939 and Indenture,

    Dated as of November 19, 2019

    	
            Section 310(a)(1)

          	
            7.10

          
	
            (a)(2)

          	
            7.10

          
	
            (a)(3)

          	
            Not Applicable

          
	
            (a)(4)

          	
            Not Applicable

          
	
            (a)(5)

          	
            7.10

          
	
            (b)

          	
            7.10

          
	
            (c)

          	
            Not Applicable

          
	
            Section 311(a)

          	
            7.11

          
	
            (b)

          	
            7.11

          
	
            (c)

          	
            Not Applicable

          
	
            Section 312(a)

          	
            2.06

          
	
            (b)

          	
            10.03

          
	
            (c)

          	
            10.03

          
	
            Section 313(a)

          	
            7.06

          
	
            (b)(1)

          	
            7.06

          
	
            (b)(2)

          	
            7.06

          
	
            (c)(1)

          	
            7.06

          
	
            (d)

          	
            7.06

          
	
            Section 314(a)

          	
            4.02, 10.05

          
	
            (b)

          	
            Not Applicable

          
	
            (c)(1)

          	
            10.04

          
	
            (c)(2)

          	
            10.04

          
	
            (c)(3)

          	
            Not Applicable

          
	
            (d)

          	
            Not Applicable

          
	
            (e)

          	
            10.05

          
	
            (f)

          	
            Not Applicable

          
	
            Section 315(a)

          	
            7.01

          
	
            (b)

          	
            7.05

          
	
            (c)

          	
            7.01

          
	
            (d)

          	
            7.01

          
	
            (e)

          	
            6.14

          
	
            Section 316(a)(1)(A)

          	
            6.12

          
	
            (a)(1)(B)

          	
            6.13

          
	
            (a)(2)

          	
            Not Applicable

          
	
            (b)

          	
            6.13

          
	
            (c)

          	
            10.06

          
	
            Section 317(a)(1)

          	
            6.03

          
	
            (a)(2)

          	
            6.04

          
	
            (b)

          	
            2.05

          
	
            Section 318(a)

          	
            10.01

          

    

    

    
      v

      
        

    

    

    

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

    
      vi

      
        

    

    

    

    Indenture dated as of November 19, 2019 between Global Ship Lease, Inc., a company organized under the laws of the
      Republic of the Marshall Islands (the “Company”) and Wilmington Savings Fund Society, FSB (the “Trustee”).

    Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders
      of the Securities issued under this Indenture.

    ARTICLE 1

          Definitions and Incorporation by Reference

    Section 1.01.  Definitions.

    “Additional Amounts”
      means any additional amounts which are required hereby or by any Security, under circumstances specified herein or therein, to be paid by the Company in respect of certain taxes imposed on Holders specified therein and which are owing to such
      Holders.

    “Affiliate”
      of any specified person means any other person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified person.  For the purposes of this definition, “control” (including, with correlative
      meanings, the terms “controlled by” and “under common control with”), as used with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person,
      whether through the ownership of voting securities or by agreement or otherwise.

    “Agent”
      means any Registrar or Paying Agent.

    “Bankruptcy Law”
      means Title 11 of the United States Code (or any successor thereto) or any similar federal or state law for the relief of debtors.

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

    “Board Resolution”
      means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of
      the certificate and delivered to the Trustee.

    “Business Day”
      means, for any place where the principal and interest on the Notes is payable, each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day in which banking institutions in New York, New York are authorized or obligated by law or executive
      order to close.

    “Capital Stock”
      of any Person means any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) equity of such Person, but excluding any debt securities convertible into such
      equity.

    
      
        

    

    
    “Certificated
        Securities” means Securities in the form of physical, certificated Securities in registered form.

    “Company”
      means the party named as such above until a successor replaces it in accordance with the terms of this Indenture and thereafter means the successor.

    “Company Order”
      means a written order signed in the name of the Company by one Officer, which Officer must be the Company’s principal executive officer, principal financial officer, principal accounting officer, General Counsel or Secretary.

    “Company Request”
      means a written request signed in the name of the Company by its Executive Chairman of the Board or Chief Executive Officer, and by its Chief Financial Officer, Chief Commercial Officer, its Secretary or an Assistant Secretary, and delivered to the
      Trustee.

    “Corporate Trust
        Office” means the office of the Trustee at which at any particular time its corporate trust business shall be principally administered which office at the date of the execution of this Indenture is Wilmington Savings Fund Society, FSB, 500
      Delaware Ave., Wilmington, DE 19801 , Attention: Global Ship Lease, Inc., or at such other address as the Trustee may designate from time to time or the principal corporate trust office of any successor trustee.

    “Custodian”
      means any receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Law.

    “Default” or
      “default” means any event which is, or after notice or passage of time or both would be, an Event of Default.

    “Default Rate”
      means the default rate of interest specified in the Securities.

    “Depository”
      means, with respect to the Securities of any Series issuable or issued in whole or in part in the form of one or more Global Securities, the person designated as Depository for such Series by the Company, which Depository shall be a clearing agency
      registered under the Exchange Act; and if at any time there is more than one such person, “Depository” as used with respect to the Securities of any Series shall mean the Depository with respect to the Securities of such Series.

    “Discount Security”
      means any Security that provides for an amount less than the stated principal amount thereof to be due and payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.02.

    “Dollars”
      means the currency of The United States of America.

    “ECU” means
      the European Currency Unit as determined by the Commission of the European Union.

    “EDGAR” means
      Electronic Data Gathering, Analysis, and Retrieval database of the SEC.

    
      2

      
        

    

    “Exchange Act”
      means the Securities Exchange Act of 1934, as amended.

    “Foreign Currency”
      means any currency or currency unit issued by a government other than the government of The United States of America.

    “Foreign Government
        Obligations” means with respect to Securities of any Series that are denominated in a Foreign Currency, (i) direct obligations of the government that issued or caused to be issued such currency for the payment of which obligations its full
      faith and credit is pledged or (ii) obligations of a person controlled or supervised by or acting as an agency or instrumentality of such government the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by
      such government, which, in either case under clauses (i) or (ii), are not callable or redeemable at the option of the issuer thereof.

    “Global Security”
      or “Global Securities” means a Security or Securities, as the case may be, in the form established pursuant to Section 2.02 evidencing all or part of a Series of Securities, issued to the Depository for such Series or its nominee, and registered in
      the name of such Depository or nominee.

    “Holder” or
      “Securityholder” means a person in whose name a Security is registered.

    “Indenture”
      means this Indenture as amended and supplemented from time to time and shall include the form and terms of particular Series of Securities established as contemplated hereunder, including, for all purposes of this instrument and any supplemental
      indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this instrument and any such supplemental indenture, respectively.

    “Interest,”
      in respect of the Securities, unless the context otherwise requires, refers to interest payable on the Securities, including any additional interest that may become payable pursuant to Section 6.02(b).

    “Maturity,”
      when used with respect to any Security or installment of principal thereof, means the date on which the principal of such Security or such installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity
      or by declaration of acceleration, call for redemption, notice of option to elect repayment or otherwise.

    “Officer”
      means the Executive Chairman of the Board, Chief Executive Officer, Chief Financial Officer, Chief Commercial Officer, the President, any Vice-President, General Counsel, the Treasurer, the Secretary, any Assistant Treasurer or any Assistant
      Secretary of the Company.

    “Officers’
        Certificate” means a certificate signed by two Officers, one of whom must be the Company’s principal executive officer, principal financial officer or principal accounting officer, that meets the requirements of Sections 10.04 and 10.05.

    
      3

      
        

    

    “Opinion of Counsel”
      means a written opinion of legal counsel who is, and which opinion is, reasonably acceptable to the Trustee and its counsel.  Such legal counsel may be an employee of or counsel to the Company or the Trustee, that meets the requirements of Sections
      10.04 and 10.05.

    “Person”
      means any individual, corporation, partnership, joint venture, association, limited liability company, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.

    “Principal”
      or “principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional Amounts in
      respect of, the Security.

    “Responsible
        Officer” when used with respect to the Trustee, means any officer within the corporate trust department of the Trustee (or any successor group of the Trustee) having direct responsibility for the administration of this Indenture.

    “SEC” means
      the Securities and Exchange Commission.

    “Security”
      or “Securities” means the debentures, notes or other debt instruments of the Company of any Series authenticated and delivered under this
      Indenture.

    “Series” or
      “Series of Securities” means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.01 and 2.02
      of the Indenture.

    “Significant
        Subsidiary” means (i) any direct or indirect Subsidiary of the Company that would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act of 1933, as amended, as such
      regulation is in effect on the date hereof, or (ii) any group of direct or indirect Subsidiaries of the Company that, taken together as a group, would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated
      pursuant to the Securities Act of 1933, as amended, as such regulation is in effect on the date hereof.

    “Stated Maturity”
      when used with respect to any Security or any installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is
      due and payable.

    “Subordinated
        Indebtedness” means any indebtedness which is expressly subordinated to the indebtedness evidenced by Securities.

    “Subsidiary”
      means, in respect of any Person, any corporation, association, partnership or other business entity of which more than 50% of (a) the class of securities entitled to vote in the election of directors, managers, general partners or trustees; or (b)
      the total voting power of shares of Capital Stock or other interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, general partners or trustees
      thereof, is at the time owned or controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more Subsidiaries of such Person.

    
      4

      
        

    

    “TIA” means the
      Trust Indenture Act of 1939 (15 U.S. Code Sections 77aaa-77bbbb) as in effect on the date of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any
      such amendment, the Trust Indenture Act as so amended.

    “Trustee”
      means the person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each person who
      is then a Trustee hereunder, and if at any time there is more than one such person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series.

    “U.S. Government
        Obligations” means securities which are (i) direct obligations of The United States of America for the payment of which its full faith and credit is pledged or (ii) obligations of a person controlled or supervised by and acting as an agency
      or instrumentality of The United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by The United States of America, and which in the case of (i) and (ii) are not callable or redeemable at the
      option of the issuer thereof, and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government
      Obligation held by such custodian for the account of the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt
      from any amount received by the custodian in respect of the U.S. Government Obligation evidenced by such depository receipt.

    Section 1.02.  Other Definitions.

    	
            
              Term

            

          	
            
              Defined in Section

            

          
	
            “Applicable Law”

          	
            10.18

          
	
            “Event of Default”

          	
            6.01

          
	
            “Instrument”

          	
            6.01

          
	
            “Journal”

          	
            10.16

          
	
            “Judgment Currency”

          	
            10.17

          
	
            “Legal Holiday”

          	
            10.08

          
	
            “mandatory sinking fund payment”

          	
            11.01

          
	
            “Market Exchange Rate”

          	
            10.16

          
	
            “New York Banking Day”

          	
            10.17

          
	
            “optional sinking fund payment”

          	
            11.01

          
	
            “Paying Agent”

          	
            2.04

          
	
            “Registrar”

          	
            2.04

          
	
            “Required Currency”

          	
            10.17

          
	
            “successor person”

          	
            5.01

          
	
            “Temporary Securities”

          	
            2.11

          

    

    

    
      5

      
        

    

    

    

    Section 1.03.  Incorporation by Reference of Trust Indenture Act.  Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
        reference in and made a part of this Indenture.  This Indenture shall also include those provisions of the TIA required to be included herein by the provisions of the Trust Indenture Reform Act of 1990.  The following TIA terms used in this
        Indenture have the following meanings:

    “indenture securities”
      means the Securities.

    “indenture security
        holder” means a Securityholder.

    “indenture to be
        qualified” means this Indenture.

    “indenture trustee”
      or “institutional trustee” means the Trustee.

    “obligor” on
      the indenture securities means the Company and any successor obligor upon the Securities.

    All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or
      defined by SEC rule under the TIA and not otherwise defined herein are used herein as so defined.

    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 generally accepted accounting principles;

    (c) references to “generally accepted accounting principles” shall mean generally accepted accounting principles in effect as of the time when and for the period as to which such
        accounting principles are to be applied;

    (d) “or” is not exclusive;

    (e) words in the singular include the plural, and in the plural include the singular;

    (f) provisions apply to successive events and transactions;

    (g) references to agreements and other instruments include subsequent amendments thereto;

    
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    (h) the term “merger” includes a statutory share exchange, and the term “merged” has a correlative meaning; and

    (i) “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.

    ARTICLE 2

      The Securities

    Section 2.01.  Issuable in Series.  The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited.  The
        Securities may be issued in one or more Series.  All Securities of a Series shall be identical except as may be set forth in a Board Resolution, a supplemental indenture or an Officers’ Certificate detailing the adoption of the terms thereof
        pursuant to the authority granted under a Board Resolution.  In the case of Securities of a Series to be issued from time to time, the Board Resolution, Officers’ Certificate or supplemental indenture may provide for the method by which specified
        terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to be determined.  Securities may differ between Series in respect of any matters, provided that all Series of Securities shall be equally and
        ratably entitled to the benefits of the Indenture.

    Section 2.02.  Establishment of Terms of Series of Securities.  At or prior to the issuance of any Securities within a Series, the following shall be established
        (as to the Series generally), in the case of Subsection (a), and either as to such Securities within the Series or as to the Series generally in the case of Subsections (b) through (t) by a Board Resolution, a supplemental indenture or an Officers’
        Certificate pursuant to authority granted under a Board Resolution:

    (a) the title, designation, aggregate principal amount and authorized denominations of the Securities of the Series;

    (b) the price or prices (expressed as a percentage of the aggregate principal amount thereof) at which the Securities of the Series will be issued;

    (c) the date or dates on which the principal of the Securities of the Series is payable;

    (d) the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates (including, but not limited to, any commodity,
        commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall commence and be payable and any regular record date for the
        interest payable on any interest payment date;

    (e) any optional or mandatory sinking fund provisions or conversion or exchangeability provisions upon which Securities of the Series shall be redeemed, purchased, converted or
        exchanged;

    
      7

      
        

    

    

    

    (f) the date, if any, after which and the price or prices at which the Securities of the Series may be optionally redeemed or must be mandatorily redeemed and any other terms and
        provisions of optional or mandatory provisions;

    (g) if other than denominations of $25 and any integral multiple thereof, the denominations in which the Securities of the Series shall be issuable;

    (h) if other than the full principal amount, the portion of the principal amount of the Securities of the Series that shall be payable upon declaration of acceleration pursuant to
        Section 6.02 or provable in bankruptcy;

    (i) any addition to or change in the Events of Default which applies to any Securities of the Series and any change in the right of the Trustee or the requisite Holders of such
        Securities to declare the principal amount thereof due and payable pursuant to Section 6.02;

    (j) the currency or currencies, including composite currencies, in which payments of principal of, premium or interest, if any, on the Securities of the Series will be payable, if
        other than the currency of the United States of America;

    (k) if payments of principal of, premium or interest, if any, on the Securities of the Series will be payable, at the Company’s election or at the election of any Holder, in a
        currency other than that in which the Securities of the Series are stated to be payable, the period or periods within which, and the terms and conditions upon which, the election may be made;

    (l) if payments of interest, if any, on the Securities of the Series will be payable, at the Company’s election or at the election of any Holder, in cash or additional securities,
        and the terms and conditions upon which the election may be made;

    (m) if denominated in a currency or currencies other than the currency of the United States of America, the equivalent price of the Securities of the Series in the currency of the
        United States of America for purposes of determining the voting rights of Holders of the Securities of the Series;

    (n) if the amount of payments of principal, premium or interest may be determined with reference to an index, formula or other method based on a coin or currency other than that in
        which the Securities of the Series are stated to be payable, the manner in which the amounts will be determined;

    (o) any restrictive covenants or other material terms relating to the Securities of the Series, which may not be inconsistent with the Indenture;

    (p) whether the Securities of the Series will be issued in the form of global securities or certificates in registered form;

    (q) any terms with respect to subordination;

    
      8

      
        

    

    

    

    (r) any listing on any securities exchange or quotation system;

    (s) additional provisions, if any, related to defeasance and discharge of the offered debt securities; and

    (t) the applicability of any guarantees.

    All Securities of any one Series need not be issued at the same time and may be issued from time to time,
      consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution, supplemental indenture or Officers’ Certificate referred to above, and the authorized principal amount of any Series may not be increased to provide
      for issuance of additional Securities of such Series, unless otherwise provided in such Board Resolution, supplemental Indenture or Officers’ Certificate.

    Section 2.03.  Execution and Authentication.  Two Officers shall sign the Securities for the Company by manual or facsimile signature.

    If an Officer whose signature is on a Security no longer holds that office at the time the Security is
      authenticated, the Security shall nevertheless be valid.

    A Security shall not be valid until authenticated by the manual signature of the Trustee or an authenticating
      agent.  The signature shall be conclusive evidence that the Security has been authenticated under this Indenture.

    The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal
      amount provided in the Board Resolution, supplemental indenture hereto or Officers’ Certificate, upon receipt by the Trustee of such Securities together with a Company Order.  Each Security shall be dated the date of its authentication unless
      otherwise provided by a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate.

    The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit upon
      the maximum principal amount for such Series set forth in the Board Resolution, supplemental indenture hereto or Officers’ Certificate delivered pursuant to Section 2.02, except as provided in Section 2.08.

    Prior to the issuance of Securities of any Series, the Trustee shall have received and (subject to Section 7.02)
      shall be fully protected in relying on: (a) the Board Resolution, supplemental indenture hereto or Officers’ Certificate establishing the form of the Securities of that Series or of Securities within that Series and the terms of the Securities of
      that Series or of Securities within that Series, (b) an Officers’ Certificate complying with Section 10.04, and (c) an Opinion of Counsel complying with Section 10.04.

    The Trustee shall have the right to decline to authenticate and deliver any Securities of such Series: (a) if the
      Trustee, being advised by counsel, determines that such action may not lawfully be taken; (b) if a Responsible Officer of the Trustee in good faith shall determine that such action would expose the Trustee to personal liability to Holders of any then
      outstanding Series of Securities; or (c) if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably
      acceptable to the Trustee.

    
      9

      
        

    

    The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities.  An
      authenticating agent may authenticate Securities 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 the Company or an Affiliate.

    If any successor that has replaced the Company in accordance with Article 5 has executed an indenture supplemental
      hereto with the Trustee pursuant to Section 5.01, any of the Securities authenticated or delivered prior to such transaction may, from time to time, at the request of such successor, be exchanged for other Securities executed in the name of the such
      successor with such changes in phraseology and form as may be appropriate, but otherwise identical to the Securities surrendered for such exchange and of like principal amount; and the Trustee, upon receipt of a Company Order of such successor, shall
      authenticate and deliver Securities as specified in such order for the purpose of such exchange.  If Securities shall at any time be authenticated and delivered in any new name of such successor pursuant to this provision of Section 2.03 in exchange
      or substitution for or upon registration of transfer of any Securities, such successor, at the option of the Holders but without expense to them, shall provide for the exchange of all Securities then outstanding for Securities authenticated and
      delivered in such new name.

    Section 2.04.  Registrar and Paying Agent.  The Company shall maintain, with respect to each Series of Securities, at the place or places specified with respect to
        such Series pursuant to Section 2.02, an office or agency where Securities of such Series may be presented or surrendered for payment (“Paying Agent”)
        and where Securities of such Series may be surrendered for registration of transfer or exchange (“Registrar”).  The Registrar shall keep a
        register with respect to each Series of Securities and to their transfer and exchange.  The Company will give prompt written notice to the Trustee of the name and address, and any change in the name or address, of each Registrar and Paying Agent. 
        If at any time the Company shall fail to maintain any such required Registrar or Paying Agent or shall fail to furnish the Trustee with the name and address thereof, such presentations and surrenders may be made or served at the Corporate Trust
        Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations and surrenders.

    The Company may also from time to time designate one or more co-registrars or additional paying agents and may from
      time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligations to maintain a Registrar or Paying Agent in each place so specified pursuant to Section 2.02
      for Securities of any Series for such purposes.  The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the name or address of any such co-registrar or additional paying agent.  The term
      “Registrar” includes any co-registrar; and the term “Paying Agent” includes any additional paying agent.

    
      10

      
        

    

    The Company hereby appoints Wilmington Savings Fund Society, FSB as the initial Registrar and Paying Agent for each
      Series unless another Registrar or Paying Agent as the case may be, is appointed prior to the time Securities of that Series are first issued.  Each Registrar and Paying Agent shall be entitled to all of the rights, protections, exculpations and
      indemnities afforded to the Trustee in connection with its roles as Registrar and Paying Agent.

    Section 2.05.  Paying Agent to Hold Money in Trust.  The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent
        will hold in trust, for the benefit of Securityholders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or interest on the Series of Securities, and will notify the Trustee of any
        default by the Company in making any such payment.  While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee.  The Company at any time may require a Paying Agent to pay all money held by it
        to the Trustee.  Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for the money.  If the Company or a Subsidiary acts as Paying Agent, it shall segregate and hold in a
        separate trust fund for the benefit of Securityholders of any Series of Securities all money held by it as Paying Agent.

    Section 2.06.  Securityholder Lists.  The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the
        names and addresses of Securityholders of each Series of Securities and shall otherwise comply with TIA Section 312(a).  If the Trustee is not the Registrar, the Company shall furnish to the Trustee at such times as the Trustee may request in
        writing, within 30 days after the receipt by the Company of any such request a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of Securityholders of each Series of Securities.

    Section 2.07.  Transfer and Exchange.  Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to
        exchange them for an equal principal amount of Securities of the same Series, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met.  To permit registrations of transfers and exchanges, the
        Trustee shall authenticate Securities at the Registrar’s request.  Any exchange or transfer shall be without charge, except that the Company or the Registrar may require payment of a sum sufficient to cover any tax or other governmental charge
        required by law.

    Neither the Company nor the Registrar shall be required (a) to issue, register the transfer of, or exchange
      Securities of any Series for the period beginning at the opening of business 15 days immediately preceding the mailing of a notice of redemption of Securities of that Series selected for redemption and ending at the close of business on the day of
      such mailing, or (b) to register the transfer of or exchange Securities of any Series selected, called or being called for redemption as a whole or the portion being redeemed of any such Securities selected, called or being called for redemption in
      part.

    
      11

      
        

    

    All Securities issued upon any transfer or exchange of Securities shall be valid obligations of the Company,
      evidencing the same debt and entitled to the same benefits under this Indenture, as the Securities surrendered upon such transfer or exchange.  Any Registrar appointed pursuant to Section 2.04 shall provide to the Trustee such information as the
      Trustee may reasonably require in connection with the delivery by such Registrar of Securities upon transfer or exchange of Securities.  Each Holder of a Security agrees to indemnify the Company and the Trustee against any liability that may result
      from the transfer, exchange or assignment of such Holder’s Security in violation of any provision of this Indenture and/or applicable U.S. federal or state securities law.

    Section 2.08.  Mutilated, Destroyed, Lost and Stolen Securities.  If any mutilated Security is surrendered to the Registrar, the Company shall execute and the
        Trustee shall authenticate and deliver in exchange therefor a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.

    If there shall be delivered to the Company and the Registrar (i) evidence to their satisfaction of the destruction,
      loss or theft of any Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Registrar that such Security has been
      acquired by a bona fide purchaser, the Company shall execute and upon its request the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same Series and of like
      tenor and principal amount and bearing a number not contemporaneously outstanding.

    In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable,
      the Company in its discretion may, instead of issuing a new Security, pay such Security.

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

    Every new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security
      shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and
      proportionately with any and all other Securities of that Series duly issued hereunder.

    The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and
      remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities.

    
      12

      
        

    

    

    

    Section 2.09.  Outstanding Securities.  The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it,
        those delivered to it for cancellation, those reductions in the interest on a Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section as not outstanding.

    If a Security is replaced pursuant to Section 2.08, it ceases to be outstanding until the Trustee receives proof
      satisfactory to it that the replaced Security is held by a bona fide purchaser.

    If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof) holds on the Maturity of
      Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on them ceases to accrue.

    A Security does not cease to be outstanding because the Company or an Affiliate holds the Security, provided that in determining whether the Holders of the requisite principal amount of outstanding Securities have given or taken any request, demand,
      authorization, direction, notice, consent, waiver or other action hereunder, Securities owned by the Company or any Affiliate of the Company will be disregarded and deemed not to be outstanding, (it being understood that in determining whether the
      Trustee is protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or other action, only Securities which the Trustee knows to be so owned will be so disregarded).  Securities so owned which have been
      pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any Affiliate of the Company.

    In determining whether the Holders of the requisite principal amount of outstanding Securities have given any
      request, demand, authorization, direction, notice, consent or waiver hereunder, the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and
      payable as of the date of such determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.02.

    Section 2.10.  Treasury Securities.  In determining whether the Holders of the required principal amount of Securities of a Series have concurred in any request,
        demand, authorization, direction, notice, consent or waiver Securities of a Series owned by the Company or an Affiliate shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on any such
        request, demand, authorization, direction, notice, consent or waiver only Securities of a Series that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded.

    Section 2.11.  Temporary Securities.  Until definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary
        securities upon a Company Order (“Temporary Securities”).  Temporary Securities shall be substantially in the form of definitive Securities but
        may have variations that the Company considers appropriate for temporary Securities.  Without unreasonable delay, the Company shall prepare and the Trustee upon written request shall authenticate definitive Securities of the same Series and date of
        maturity in exchange for temporary Securities.  Until so exchanged, temporary securities shall have the same rights under this Indenture as the definitive Securities.

    
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    Section 2.12.  Cancellation.  The Company at any time may deliver Securities to the Trustee for cancellation.  The Registrar and the Paying Agent shall forward to
        the Trustee or its agent any Securities surrendered to them for transfer, exchange, payment or conversion.  The Trustee and no one else shall cancel, in accordance with its standard procedures, all Securities surrendered for transfer, exchange,
        payment, replacement, conversion or cancellation and shall deliver the cancelled Securities to the Company.  No Security shall be authenticated in exchange for any Security cancelled pursuant to this Section 2.12.

    The Company may, to the extent permitted by law, purchase Securities in the open market or by tender offer at any
      price or by private agreement.  Any Securities purchased or otherwise acquired by the Company or any of its Subsidiaries prior to the final maturity of such Securities may, to the extent permitted by law, be reissued or resold or may, at the option
      of the Company, be surrendered to the Trustee for cancellation.  Any Securities surrendered for cancellation may not be reissued or resold and shall be promptly cancelled by the Trustee, and the Company may not issue any new Securities to replace any
      such Securities.

    Section 2.13.  Defaulted Interest.  If the Company defaults in a payment of interest on a Series of Securities, it shall pay defaulted interest, plus, to the
        extent permitted by law, any interest payable on the defaulted interest at the Default Rate, to the persons who are Security holders of the Series on a subsequent special record date.  The Company shall fix the record date and payment date.  At
        least 10 days before the record date, the Company shall mail to the Trustee and the Paying Agent and to each Securityholder of the Series a notice that states the record date, the payment date and the amount of interest to be paid.  The Company may
        pay defaulted interest in any other lawful manner.

    Section 2.14.  Global
        Securities.

    (a) A Board Resolution, a supplemental indenture hereto or an Officers’ Certificate shall establish whether the Securities of a Series shall be issued in whole or in part in the
        form of one or more Global Securities and the Depository for such Global Security or Securities.

    (b) (i)          Notwithstanding any provisions to the contrary contained in Section 2.07 of the
        Indenture and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.07 of the Indenture for Securities registered in the names of Holders other than the Depository for such Security or its nominee only if (A) such
        Depository notifies the Company that it is unwilling or unable to continue as Depository for such Global Security or if at any time such Depository ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company
        fails to appoint a successor Depository within 90 days of such event, (B) the Company determines the Securities shall no longer be represented by a Global Security and executes and delivers to the Trustee an Officers’ Certificate to the effect that
        such Global Security shall be so exchangeable or (C) an Event of Default with respect to the Securities represented by such Global Security shall have happened and be continuing and the Depository requests the issuance of certificated Securities.

    
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      (ii)          Except as provided in this Section 2.14(b), a Global Security may not be transferred except as a whole by the Depository with respect to such Global Security to a nominee of such Depository, by a nominee of such Depository
          to such Depository or another nominee of such Depository or by the Depository or any such nominee to a successor Depository or a nominee of such a successor Depository.

      (iii)          Securities issued in exchange for a Global Security or any portion thereof shall be issued in definitive, fully registered form, without interest coupons, shall have an aggregate principal amount equal to that of such
          Global Security or portion thereof to be so exchanged, shall be registered in such names and be in such authorized denominations as the Depository shall designate and shall bear the applicable legends provided for herein.  Any Global Security to
          be exchanged in whole shall be surrendered by the Depository to the Trustee, as Registrar.  With regard to any Global Security to be exchanged in part, either such Global Security shall be so surrendered for exchange or, if the Registrar is
          acting as custodian for the Depository or its nominee with respect to such Global Security, the principal amount thereof shall be reduced by an amount equal to the portion thereof to be so exchanged, by means of an appropriate adjustment made on
          the records of the Trustee.  Upon any such surrender or adjustment, the Trustee shall authenticate and deliver the Security issuable on such exchange to or upon the order of the Depository or an authorized representative thereof.

      (iv)          The registered Holder may grant proxies and otherwise authorize any Person, including participants in the Depository and persons that may hold interests through participants in the Depository, to take any action which a
          Holder is entitled to take under this Indenture or the Securities.

      (v)          In the event of the occurrence of any of the events specified in 2.14(b)(i), the Company will promptly make available to the Trustee a reasonable supply of Certificated Securities in definitive, fully registered form,
          without interest coupons.  If (A) an event described in (A) Section 2.14(b)(i)(A) or (B) occurs and definitive Certificated
          Securities are not issued promptly to all beneficial owners or (B) the Registrar receives from a beneficial owner instructions to obtain definitive Certificated Securities due to an event described in Section 2.14(b)(i)(C) and definitive
          Certificated Securities are not issued promptly to any such beneficial owner, the Company expressly acknowledges, with respect to the right of any Holder to pursue a remedy pursuant to Section 6.07 hereof, the right of any beneficial owner of
          Securities to pursue such remedy with respect to the portion of the Global Security that represents such beneficial owner’s Securities as if such definitive certificated Securities had been issued.

    

    
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      (vi)          Notwithstanding any provision to the contrary in this Indenture, so long as a Global Security remains outstanding and is held by or on behalf of the Depository, transfers of a Global Security, in whole or in part, or of any
          beneficial interest therein, shall only be made in accordance with Section 2.07, this Section 2.14(b) and the rules and procedures of the Depository for such Global Security to the extent applicable to such transaction and as in effect from time
          to time.

    

    (c) Any Global Security issued hereunder shall bear a legend in substantially the following form:

    “This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered
      in the name of the Depository or a nominee of the Depository.  This Security is exchangeable for Securities registered in the name of a person other than the Depository or its nominee only in the limited circumstances described in the Indenture, and
      may not be transferred except as a whole by the Depository to a nominee of the Depository, by a nominee of the Depository to the Depository or another nominee of the Depository or by the Depository or any such nominee to a successor Depository or a
      nominee of such a successor Depository.”

    (d) The Depository, as a Holder, may appoint agents and otherwise authorize participants to give or take any request, demand, authorization, direction, notice, consent, waiver or
        other action which a Holder is entitled to give or take under the Indenture.

    (e) Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.02, payment of the principal of and interest, if any, on any
        Global Security shall be made to the Holder thereof at their registered office.

    (f) At all times the Securities are held in book-entry form with a Depository, (i) the Trustee may deal with such Depository as the authorized representative of the Holders, (ii)
        the rights of the Holders shall be exercised only through the Depository and shall be limited to those established by law and agreement between the Holders and the Depository and/or direct participants of the Depository, (iii) the Depository will
        make book-entry transfers among the direct participants of the Depository and will receive and transmit distributions of principal and interest on the Securities to such direct participants; and (iv) the direct participants of the Depository shall
        have no rights under this Indenture, or any supplement hereto, under or with respect to any of the Securities held on their behalf by the Depository, and the Depository may be treated by the Trustee and its agents, employees, officers and directors
        as the absolute owner of the Securities for all purposes whatsoever.

    Section 2.15.  CUSIP Numbers.  The Company in issuing the Securities may use “CUSIP,” “CCN,” “ISIN” or other identification numbers (if then generally in use),
        and, if so, the Trustee shall use “CUSIP,” “CCN,” “ISIN” or such other identification numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such
        numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other elements of identification printed on the Securities, and any such redemption shall not be affected by any
        defect in or omission of such numbers.

    
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    ARTICLE 3

      Redemption

    Section 3.01.  Notice to Trustee.  The Company may, with respect to any series of Securities, reserve the right to redeem and pay the Series of Securities or may
        covenant to redeem and pay the Series of Securities or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities.  If a Series of Securities is redeemable and the Company wants or is
        obligated to redeem prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms of such Securities, it shall notify the Trustee and Registrar in writing of the redemption date and the principal amount of
        Series of Securities to be redeemed.  The Company shall give the notice at least five calendar days before the redemption notice required by Section 3.03 shall be sent (or such shorter notice as may be acceptable to the Trustee and Registrar).

    Section 3.02.  Selection of Securities to be Redeemed.  Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental indenture or an
        Officers’ Certificate, if less than all the Securities of a Series are to be redeemed, the Registrar shall select the Securities of the Series to be redeemed in accordance with its customary procedures.  The Registrar shall make the selection from
        Securities of the Series outstanding not previously called for redemption.  The Registrar may select for redemption portions of the principal of Securities of the Series that have denominations larger than $25.  Securities of the Series and
        portions of them it selects shall be in amounts of $25 or whole multiples of $25 or, with respect to Securities of any Series issuable in other denominations pursuant to Section 2.02(g), the minimum principal denomination for each Series and
        integral multiples thereof.  Provisions of this Indenture that apply to Securities of a Series called for redemption also apply to portions of Securities of that Series called for redemption.

    Section 3.03.  Notice of Redemption.  Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officers’
        Certificate, at least 30 days but not more than 60 days before a redemption date, the Company shall mail a notice of redemption by first-class mail to each Holder whose Securities are to be redeemed.

    The notice shall identify the Securities of the Series to be redeemed (including CUSIP numbers, if any) and shall
      state:

    (a) the redemption date;

    (b) the redemption price;

    (c) the name and address of the Paying Agent;

    
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    (d) that Securities of the Series called for redemption must be surrendered to the Paying Agent to collect the redemption price;

    (e) that interest on Securities of the Series called for redemption ceases to accrue on and after the redemption date; and

    (f) any other information as may be required by the terms of the particular Series or the Securities of a Series being redeemed.

    At the Company’s written request, the Trustee shall distribute the notice of redemption prepared by the Company in
      the Company’s name and at its expense; provided however, the Company shall deliver to the Trustee, at least 3 Business Days (or such shorter period as is acceptable to the Trustee) prior to the intended date of the delivery of any such notice, an
      Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as required by this Section.

    Section 3.04.  Effect of Notice of Redemption.  Once notice of redemption is mailed or published as provided in Section 3.03, Securities of a Series called for
        redemption become due and payable on the redemption date and at the redemption price.  A notice of redemption may not be conditional.  Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price plus accrued interest
        to the redemption date.

    Section 3.05.  Deposit of Redemption Price.  Before the redemption date or prior to 11:00 A.M., New York City time on the redemption date, the Company shall
        deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be redeemed on that date.

    Section 3.06.  Securities Redeemed in Part.  Upon surrender of a Security that is redeemed in part, the Company shall execute and the Trustee shall authenticate
        for the Holder a new Security of the same Series and the same maturity equal in principal amount to the unredeemed portion of the Security surrendered.

    ARTICLE 4

      COVENANTS

    Section 4.01.  Payment of Principal and Interest.  The Company covenants and agrees for the benefit of the Holders of each Series of Securities that it will duly
        and punctually pay the principal of and interest, if any, on the Securities of that Series in accordance with the terms of such Securities and this Indenture.

    Unless otherwise provided under the terms of a particular Series of Securities:

    (a) an installment of principal or interest shall be considered paid on the date it is due if the Paying Agent (other than the Company) holds by 10:00 a.m., New York City time, on
        that date money, deposited by the Company or an Affiliate thereof, sufficient to pay such installment.  The Company shall (in immediately available funds), to the fullest extent permitted by law, pay interest on overdue principal and overdue
        installments of interest at the rate borne by the Securities per annum; and

    
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    (b) payment of the principal of and interest on the Securities shall be made at the office or agency of the Company maintained for that purpose in New York City (which shall
        initially be Wilmington Savings Fund Society, FSB, the Paying Agent) in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option
        of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address appears in the register; provided, further, that a Holder with an aggregate principal amount in excess of $1,000,000 will
        be paid by wire transfer in immediately available funds at the election of such Holder if such Holder has provided wire transfer instructions to the Company at least 10 Business Days prior to the payment date.

    Section 4.02.  SEC Reports.  So long as any Securities are outstanding, the Company shall (i) file with the SEC within the time periods prescribed by its rules and
        regulations and (ii) furnish to the Trustee and the Holders of the Securities within 15 days after the date on which the Company would be required to file the same with the SEC pursuant to its rules and regulations (giving effect to any grace
        period provided by Rule 12b-25 under the Exchange Act), all financial information required to be furnished or filed with the SEC pursuant to Section 13 and Section 15(d) of the Exchange Act and, with respect to the annual consolidated financial
        statements only, a report thereon by the Company’s independent auditors.  The Company also shall comply with the other provisions of TIA Section 314(a).

    Delivery of such reports, information and documents to the Trustee is for informational purposes only, and the
      Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the
      Trustee is entitled to rely exclusively on Officers’ Certificates).  The Company shall not be required to file any report or other information with the SEC if the SEC does not require or permit such filing. Documents filed by the Company with the SEC
      via the SEC’s EDGAR system (or any successor thereto) will be deemed furnished to the Trustee and the Holders of the Securities as of the time such documents are filed via EDGAR (or such successor).

    Section 4.03.  Compliance Certificate.  The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officers’
        Certificate signed by two of the Company’s officers stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining
        whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his knowledge the Company has kept, observed, performed
        and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of the Indenture (or, if a Default or Event of Default shall have occurred,
        describing all such Defaults or Events of Default of which he may have knowledge in reasonable detail and the efforts to remedy the same).

    
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    The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, written notice in the form
      of an Officers’ Certificate of any Event of Default described in Section 6.01(e), (f), (g) or (h) and any event of which it becomes aware that with the giving of notice or the lapse of time would become such an Event of Default, its status and what
      action the Company is taking or proposes to take with respect thereto.  For the avoidance of doubt, a breach of a covenant under an Instrument that is not a payment default and that has not given rise to a right of acceleration under such Instrument
      shall not trigger the requirement to provide notice under this paragraph.

    Section 4.04.  Stay, Extension and Usury Laws.  The Company 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, which may affect the covenants or the performance of this Indenture or the Securities;
        and the Company (to the extent 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 4.05.  Corporate Existence.  Subject to Article 5, the Company will do or cause to be done all things necessary to preserve and keep in full force and
        effect its corporate existence and the corporate, partnership or other existence of each Significant Subsidiary in accordance with the respective organizational documents of each Significant Subsidiary and the rights (charter and statutory),
        licenses and franchises of the Company and its Significant Subsidiaries; provided, however, that the Company shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence of any Significant
        Subsidiary, if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries taken as a whole and that the loss thereof is not adverse in any material
        respect to the Holders.

    Section 4.06.  Taxes.  The Company shall, and shall cause each of its Subsidiaries to, pay prior to delinquency all taxes, assessments and governmental levies,
        except as contested in good faith and by appropriate proceedings.

    Section 4.07.  Additional Interest Notice.  In the event that the Company is required to pay additional interest to Holders of Securities pursuant to Section
        6.02(b) hereof, the Company shall provide a direction or order in the form of a written notice to the Trustee (and if the Trustee is not the Paying Agent, the Paying Agent) of the Company’s obligation to pay such additional interest no later than
        10 Business Days prior to date on which any such additional interest is scheduled to be paid.  Such notice shall set forth the amount of additional interest to be paid by the Company on such payment date and direct the Trustee (or, if the Trustee
        is not the Paying Agent, the Paying Agent) to make payment to the extent it receives funds from the Company to do so.  The Trustee shall not at any time be under any duty or responsibility to any Holder to determine whether additional interest is
        payable, or with respect to the nature, extent, or calculation of the amount of additional interest owed, or with respect to the method employed in such calculation of additional interest.

    
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    Section 4.08.  Further Instruments and Acts.  The Company will execute and deliver such further instruments and do such further acts as may be reasonably necessary
        or proper to carry out more effectively the purposes of this Indenture.

    ARTICLE 5

        Successors

    Section 5.01.  When Company May Merge, Etc. Unless this Section 5.01 is otherwise specified, pursuant to Section 2.02(o), to be inapplicable to Securities of any
        Series, the Company shall not consolidate with, enter into a binding share exchange, or merge into any other Person in a transaction in which it is not the surviving entity, or sell, assign, convey, transfer or lease or otherwise dispose of all or
        substantially all of its properties and assets to any Person (a “successor person”), unless:

    (a) the successor person (if any) is a corporation, partnership, trust or other entity organized and validly existing under the laws of the Marshall Islands, the United States, any
        state of the United States or the District of Columbia or any other jurisdiction not expressly prohibited by applicable United States or Marshall Islands law and expressly assumes by a supplemental indenture executed and delivered to the Trustee,
        in form satisfactory to the Trustee, the due and punctual payment of the principal of, and any interest on, all Securities and the performance or observance of every covenant of this Indenture on the part of the Company to be performed or observed;

    (b) immediately after giving effect to the transaction, no Default or Event of Default, shall have occurred and be continuing; and

    (c) the Company shall have delivered to the Trustee, prior to the consummation of the proposed transaction, an Officers’ Certificate to the foregoing effect and an Opinion of
        Counsel stating that the proposed transaction and such supplemental indenture comply with this Indenture.

    Section 5.02.  Successor Corporation Substituted.  Upon any consolidation or merger, or any sale, lease, conveyance or other disposition of all or substantially
        all of the assets of the Company in accordance with Section 5.01, the successor person formed by such consolidation or into or with which the Company is merged or to which such sale, lease, conveyance or other disposition is made shall succeed to,
        and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor person has been named as the Company herein; provided, however, that the predecessor company in the case
        of a sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company shall not be released from the obligation to pay the principal of and interest, if any, on the Securities.

    
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    ARTICLE 6

        Defaults and Remedies

    Section 6.01.  Events of Default.  “Event of Default,”
        wherever used herein with respect to securities of any Series, means any one of the following events, unless in the establishing Board Resolution, supplemental indenture or Officers’ Certificate, it is provided that such Series shall not have the
        benefit of said Event of Default:

    (a) default in the payment of any interest on any Security of that Series when it becomes due and payable, and continuance of such default for a period of 30 days (unless the entire
        amount of such payment is deposited by the Company with the Trustee or with a Paying Agent prior to the expiration of such period of 30 days); or

    (b) default in the payment of any principal of any Security of that Series at its Maturity; or

    (c) default in the deposit of any sinking fund payment, when and as due in respect of any Security of that Series; or

    (d) the Company fails to perform or comply with any of its other covenants or agreements contained in the Securities or in this Indenture (other than a covenant or agreement a
        default in whose performance or whose breach is specifically dealt with in clauses (a), (b) or (c) of this Section 6.01) and the default continues for 60 days after notice is given as specified below;

    (e) any indebtedness under any bond, debenture, note or other evidence of indebtedness for money borrowed by the Company or any Subsidiary or under any mortgage, indenture or
        instrument under which there may be issued or by which there may be secured or evidenced any indebtedness for money borrowed by, or any other payment obligation of, the Company or any Subsidiary (an “Instrument”) with a principal amount then,
        individually or in the aggregate, outstanding in excess of $50.0 million, whether such indebtedness now exists or shall hereafter be created, is not paid at Maturity or when otherwise due or is accelerated, and such indebtedness is not discharged,
        or such default in payment or acceleration is not cured, rescinded or waived within the applicable grace period, within a period of 30 days after there shall have been given, by registered or certified mail, to the Company by the Trustee or to the
        Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the outstanding Securities of that Series a written notice specifying such default and requiring the Company to cause such indebtedness to be discharged or
        cause such default to be cured or waived or such acceleration to be rescinded or annulled and stating that such notice is a “Notice of Default” hereunder.  A payment obligation (other than indebtedness under any bond, debenture, note or other
        evidence of indebtedness for money borrowed by the Company or any Subsidiary or under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any indebtedness for money borrowed by the
        Company or any Subsidiary) shall not be deemed to have matured, come due, or been accelerated to the extent that it is being disputed by the relevant obligor or obligors in good faith.  For the avoidance of doubt, the Maturity of an Instrument is
        the Maturity as set forth in that Instrument, as it may be amended from time to time in accordance with the terms of that Instrument;

    
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    (f) the Company or any Subsidiary fails to pay one or more final and non-appealable judgments entered by a court or courts of competent jurisdiction, the aggregate uninsured or
        unbonded portion of which is in excess of $50.0 million, if the judgments are not paid, discharged, waived or stayed within 90 days;

    (g) the Company or any Subsidiary of the Company, pursuant to or within the meaning of any Bankruptcy Law:

      (i)       commences a voluntary case or proceeding;

      (ii)      consents to the entry of an order for relief against it in an involuntary case or proceeding;

      (iii)     consents to the appointment of a Custodian of it or for all or substantially all of its property; or

      (iv)     makes a general assignment for the benefit of its creditors; or

      (v)      or generally is unable to pay its debts as the same become due; or

    

    (h) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law
        that:

    
      (i)      is for relief against the Company or any of its Subsidiaries in an involuntary case or proceeding;

      (ii)     appoints a Custodian of the Company or any of its Significant Subsidiaries for all or substantially all of the property of the Company or any such Significant Subsidiary; or

      (iii)    orders the liquidation of the Company or any of its Subsidiaries;

    

    
      and the case of each of clause (ii), (iii) and (iv), the order or decree remains unstayed and in effect for 60
        consecutive days; or

    

    (iv)     any other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, in accordance with Section 2.02(i).

    A default under clause (d) above is not an Event of Default until the Trustee notifies the Company, or the Holders
      of at least 25% in aggregate principal amount of the Securities then outstanding notify the Company and the Trustee, in writing of the default, and the Company does not cure the default within 60 days after receipt of such notice.  The notice given
      pursuant to this Section 6.01 must specify the default, demand that it be remedied and state that the notice is a “Notice of Default.”  When any default under this Section 6.01 is cured, it ceases.

    
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    The Trustee shall not be charged with knowledge of any Event of Default unless written notice thereof shall have
      been given to a Responsible Officer at the Corporate Trust Office of the Trustee by the Company, a Paying Agent, any Holder or any agent of any Holder.

    Section 6.02.  Acceleration of Maturity; Rescission and Annulment.  (a) If an Event of Default (other than an Event of Default specified in clause (g) or (h) of
        Section 6.01) occurs and is continuing with respect to any Securities of any Series, then in every such case, the Trustee may, by notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Securities of that Series
        (or, if any Securities of that Series are Discount Securities, such portion of the principal amount as may be specified in the terms of such Securities) then outstanding may, by notice to the Company and the Trustee, declare all unpaid principal
        of, and accrued and unpaid interest on to the date of acceleration, the Securities of that Series then outstanding (if not then due and payable) to be due and payable upon any such declaration, and the same shall become and be immediately due and
        payable.  If an Event of Default specified in clause (g) or (h) of Section 6.01 occurs, all unpaid principal of the Securities then outstanding, and all accrued and unpaid interest thereon to the date of acceleration, shall ipso facto become and be
        immediately due and payable without any declaration or other act on the part of the Trustee or any Holder.  The Holders of a majority in aggregate principal amount of the Securities of that Series then outstanding by notice to the Trustee may
        rescind an acceleration of such Securities of that Series and its consequences if (a) all existing Events of Default, other than the nonpayment of the principal of the Securities which has become due solely by such declaration of acceleration, have
        been cured or waived; and (b) to the extent the payment of such interest is lawful, interest (calculated at the Default Rate) on overdue installments of interest and overdue principal, which has become due otherwise than by such declaration of
        acceleration, has been paid.  No such rescission shall affect any subsequent default or impair any right consequent thereto.

    (b) Unless this Section 6.02(b) is otherwise specified, pursuant to Section 2.02(i), to be inapplicable to Securities of any Series, notwithstanding any provision of this Article 6,
        at the election of the Company in its sole discretion, the sole remedy under this Indenture for an Event of Default relating to the failure to comply with Section 4.02, and for any failure to comply with the requirements of Section 314(a)(1) of the
        TIA, will consist, for the 180 days after the occurrence of such an Event of Default, exclusively of the right to receive additional interest on the Securities at a rate equal to 0.50% per annum of the aggregate principal amount of the Securities
        then outstanding up to, but not including, the 181st day thereafter (or, if applicable, the earlier date on which the Event of Default relating to Section 4.02 is cured or waived).  Any such additional interest will be payable in the same manner
        and on the same dates as the stated interest payable on the Securities.  In no event shall additional interest accrue under the terms of this Indenture at a rate in excess of 0.50% per annum, in the aggregate, for any violation or default caused by
        the failure of the Company to be current in respect of its Exchange Act reporting obligations.  If the Event of Default is continuing on the 181st day after an Event of Default relating to a failure to comply with Section 4.02, the Securities will
        be subject to acceleration as provided in this Section 6.02.  The provisions of this Section 6.02(b) will not affect the rights of Holders in the event of the occurrence of any other Events of Default.

    
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    In order to elect to pay additional interest as the sole remedy during the first 180 days after the occurrence of
      an Event of Default relating to the failure to comply with Section 4.02 in accordance with the immediately preceding paragraph, the Company shall notify all Holders and the Trustee and Paying Agent of such election on or before the close of business
      on the fifth Business Day after the date on which such Event of Default otherwise would occur.

    Section 6.03.  Collection of Indebtedness and Suits for Enforcement by Trustee.  If an Event of Default with respect to any Securities of any Series occurs and is
        continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such Series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and
        enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

    If an Event of Default in the payment of principal, interest, if any, specified in clause (a) or (b) of Section
      6.01 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company or another obligor on the Securities for the whole amount of principal, and accrued interest remaining unpaid, if
      any, together with, to the extent that payment of such interest is lawful, interest on overdue principal, on overdue installments of interest, if any, in each case at the Default Rate, and such further amount as shall be sufficient to cover the costs
      and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.

    Section 6.04.  Trustee May File Proofs of Claim.  In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement,
        adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of
        the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled
        and empowered, by intervention in such proceeding or otherwise,

    (a) to file and prove a claim for the whole amount of principal and interest owing and unpaid in respect of the Securities and to file such other papers or documents as may be
        necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial
        proceeding, and

    
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    (b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same, and any custodian, receiver, assignee, trustee,
        liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to
        the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07.

    Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on
      behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

    Section 6.05.  Trustee May Enforce Claims Without Possession of Securities.  All rights of action and claims under this Indenture or the Securities may be
        prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an
        express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the
        Securities in respect of which such judgment has been recovered.

    Section 6.06.  Application of Money Collected.  Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or
        dates fixed by the Trustee and, in case of the distribution of such money on account of principal or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully
        paid: and

    First:  To
      the payment of all amounts due the Trustee under Section 7.07;

    Second:  To
      the payment of the amounts then due and unpaid for principal of and interest on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the
      amounts due and payable on such Securities for principal and interest, respectively; and

    Third:  To
      the Company.

    Section 6.07.  Limitation on Suits.  No Holder of any Security of any Series shall have any right to institute any proceeding, judicial or otherwise, with respect
        to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless:

    (a) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that Series;

    
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    (b) the Holders of not less than 25% in principal amount of the outstanding Securities of that Series shall have made written request to the Trustee to institute proceedings in
        respect of such Event of Default in its own name as Trustee hereunder;

    (c) such Holder or Holders have offered to the Trustee indemnity satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request;

    (d) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and

    (e) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the outstanding
        Securities of that Series;

    it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by
      availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this
      Indenture, except in the manner herein provided and for the equal and ratable benefit of all such Holders.

    Section 6.08.  Unconditional Right of Holders to Receive Principal and Interest.  Notwithstanding any other provision in this Indenture, the Holder of any Security
        shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Security on the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the
        redemption date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder.

    Section 6.09.  Restoration of Rights and Remedies.  If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture
        and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the
        Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

    Section 6.10.  Rights and Remedies Cumulative.  Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen
        Securities in Section 2.08, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
        cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
        assertion or employment of any other appropriate right or remedy.

    
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    Section 6.11.  Delay or Omission Not Waiver.  No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon
        any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein.  Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised
        from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.

    Section 6.12.  Control by Holders.  The Holders of a majority in principal amount of the outstanding Securities of any Series shall have the right to direct the
        time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such Series, provided that

    (a) such direction shall not be in conflict with any rule of law or with this Indenture,

    (b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction; and

    (c) subject to the provisions of Section 6.01, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer
        of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability or would be unduly prejudicial to the rights of another Holder or the Trustee.

    Section 6.13.  Waiver of Past Defaults.  Subject to Section 9.02, the Holders of a majority in principal amount of the outstanding Securities of any Series may on
        behalf of the Holders of all the Securities of such Series waive any past Default hereunder with respect to such Series and its consequences, except (a) a Default in the payment of the principal of or interest on any Security of such Series
        (provided, however, that the Holders of a majority in principal amount of the outstanding Securities of any Series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration), and
        (b) in respect of a covenant that cannot be modified or amended without the consent of each holder of the Securities of such Series.  Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be
        deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

    Section 6.14.  Undertaking for Costs.  All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have
        agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any
        party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the
        merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or
        group of Holders, holding in the aggregate more than 25% in principal amount of the outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on any Security on
        or after the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the redemption date).

    
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    ARTICLE 7

        TRUSTEE

    Section 7.01.  Duties of Trustee.  (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this
        Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of his own affairs.

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

    
      (i)          The Trustee need perform only those duties that are specifically set forth in this Indenture and no implied duties, covenants or obligations shall be deemed to be imposed upon the Trustee.

      (ii)         in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and
          conforming to the requirements of this Indenture; however, in the case of any such certificates or opinions which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine the same to determine
          whether or not they conform on their face to the requirements of this Indenture.

    

    (b) The Trustee may not be relieved from liability for its own its own negligent action, its own negligent failure to act or willful misconduct, except that:

      (i)          This paragraph does not limit the effect of paragraph (b) of Section 7.01 herein.

      (ii)         The Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts.

      (iii)       The Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in
          principal amount of the outstanding Securities of such Series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this
          Indenture with respect to the Securities of such Series.

    

    
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    (c) Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee, including but not limited to relating to the conduct or
        affecting the liability of or affording protection to the Trustee,  is subject to of the provisions of this Section.

    (d) The Trustee may refuse to perform any duty or exercise any right or power unless it receives an indemnity satisfactory to it against any loss, liability or expense.

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

    (f) No provision of this Indenture shall require the Trustee to risk or expend its own funds or otherwise incur any liability, financial or otherwise. The Trustee shall be under no
        obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs,
        expenses and liabilities that might be incurred by it in compliance with such request or direction.

    (g) The Paying Agent, the Registrar and any authenticating agent shall be entitled to the same rights, indemnities, protections and immunities afforded to the Trustee.

    (h) The Trustee shall have no duty to monitor the performance or compliance of the Company with its obligations hereunder or any under supplement hereto, nor shall it have any
        liability in connection with the malfeasance or nonfeasance by the Company.  The Trustee shall have no liability in connection with compliance by the Company with statutory or regulatory requirements related to this Indenture, any supplement or any
        Securities issued pursuant hereto or thereto.

    Section 7.02.  Rights of Trustee.

    (a) The Trustee may conclusively rely on and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report,
        notice, request, consent, order, direction, approval or other paper or document believed by it to be genuine and to have been signed or presented by the proper person.  The Trustee need not investigate, recalculate or verify any fact or matter
        stated in the document.

    (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel or both.  The Trustee shall not be liable for any action it
        takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel.

    
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    (c) The Trustee may act through agents, custodians, nominees or attorneys and shall not be responsible for the misconduct or negligence of, or for the supervision of, any agent
        custodians, nominees or attorneys appointed with due care.  No Depository shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission by any Depository.

    (d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers.

    (e) The Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect
        of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon.

    (f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by or pursuant to this Indenture at the request, order or direction of any of the
        Holders of Securities, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

    (g) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice,
        request, direction, consent, order, bond, debenture, note, other evidence of Indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit,
        and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company personally or by agent or attorney at the sole cost of the Company and shall incur no
        liability or additional liability of any kind by reason of such inquiry or investigation.

    (h) The Trustee shall not be liable for the actions or omissions of the Company or any paying agent (other than the Trustee), any authenticating agent (other than the Trustee) or
        any other Person and without limiting the foregoing, the Trustee shall not be under any obligation to monitor, evaluate or verify compliance by the Company or such other Person with the terms hereof.

    (i) the Trustee shall not be deemed to have notice or knowledge of any matter unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice
        thereof is received by a Responsible Officer of the Trustee at the Corporate Trust Office and such notice references the Securities and this Indenture.The Trustee shall not be under any obligation to take any action in the performance of its duties
        hereunder that would be in violation of applicable law.

    (j) The Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of Officers authorized at such time to take
        specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate previously delivered and not
        superseded.

    
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    (k) Any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any resolution of the Board of Directors shall
        be sufficiently evidenced by a Board Resolution.

    (l) Whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action
        hereunder, the Trustee (unless other evidence be herein specifically prescribed) shall be entitled to receive and may, in the absence of bad faith on its part, conclusively rely upon, and shall not be liable for any action it takes or omits to take
        in good faith in reliance upon, an Officers’ Certificate or an Opinion of Counsel.

    (m) The permissive rights of the Trustee to take or refrain from taking any actions enumerated in this Indenture shall not be construed as a duty.

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

    (o) Notwithstanding anything herein to the contrary, the Trustee shall not be responsible or liable for special, indirect, punitive or consequential losses or damages (including,
        but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action.

    Section 7.03.  Individual Rights of Trustee.  The Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise
        deal with the Company or an Affiliate with the same rights it would have if it were not Trustee.  Any Agent may do the same with like rights.  The Trustee is also subject to Sections 7.10 and 7.11.

    Section 7.04.  Trustee’s Disclaimer.  The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities and the recitals
        contained herein and in the Securities shall be taken as statements of the Company and not of the Trustee, and the Trustee has no responsibility for such recitals. The Trustee shall not be accountable for the Company’s use or application of the
        proceeds from the Securities or for monies paid over to the Company pursuant to this Indenture, and it shall not be responsible for any statement in the Securities other than its authentication.

    Section 7.05.  Notice of Defaults.  If a Default or Event of Default occurs and is continuing with respect to the Securities of any Series and if a Responsible
        Officer of the Trustee has actual knowledge or receives written notice of such event, the Trustee shall mail to each Securityholder of the Securities of that Series, notice of a Default or Event of Default within 120 days after a Responsible
        Officer of the Trustee has actual knowledge of such Default or Event of Default unless such Event of Default shall have been cured or waived before the giving of such notice.  Except in the case of a Default or Event of Default in payment of
        principal of or interest on any Security of any Series, including any additional interest that may become payable pursuant to Section 6.02(b), the Trustee may withhold the notice so long as the Trustee in good faith determines that withholding the
        notice is in the interests of Securityholders of that Series.

    
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    Section 7.06.  Reports by Trustee to Holders.  Within 60 days after September 15 in each year, the Trustee shall transmit by mail to all Securityholders, as their
        names and addresses appear on the register kept by the Registrar, a brief report dated as of such September 15, in accordance with, and to the extent required under, TIA Section 313.

    A copy of each report at the time of its mailing to Securityholders of any Series shall be filed with the SEC and
      each stock exchange on which the Securities of that Series are listed.  The Company shall promptly notify the Trustee when Securities of any Series are listed on any stock exchange.

    Section 7.07.  Compensation and Indemnity.  The Company shall pay to the Trustee from time to time such compensation for its services as shall be agreed upon in
        writing.  The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust.  The Company shall reimburse the Trustee promptly upon request for all reasonable out-of-pocket expenses, disbursements and
        advances incurred by it.  Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents, counsel and other persons not regularly in its employ.

    The Company shall indemnify, defend and hold harmless the Trustee and its officers, directors, employees,
      representatives and agents, from and against and reimburse the Trustee for any and all claims, expenses, obligations, liabilities, losses, damages, injuries (to person, property, or natural resources), penalties, stamp or other similar taxes,
      actions, suits, judgments, reasonable costs and expenses (including reasonable attorney’s and agent’s fees and expenses) of whatever kind or nature regardless of their merit, demanded, asserted or claimed against the Trustee directly or indirectly
      relating to, or arising from, claims against the Trustee by reason of its participation in the transactions contemplated hereby, including without limitation all reasonable costs required to be associated with claims for damages to persons or
      property, and reasonable attorneys’ and consultants’ fees and expenses and court costs except to the extent caused by the Trustee’s negligence or willful misconduct, as determined by a court of competent jurisdiction no longer subject to appeal or
      review.  The provisions of this Section 7.07 shall survive the termination of this Agreement or the earlier resignation or removal of the Trustee.  The Company shall defend any claim and the Trustee shall cooperate in the defense.  The Trustee may
      have separate counsel and the Company shall pay the reasonable fees and expenses of such counsel.  The Company will not consent to the entry of any judgment or enter into any compromise or settlement with respect to any indemnified claim without the
      prior written consent of Trustee (not to be unreasonably withheld or delayed) unless such judgment, compromise or settlement: (a) provides for the payment by Company of money as sole relief for the claimant; (b) results in the full and general
      release of Trustee from all liabilities arising or relating to, or in connection with, the indemnified claim; and (c) involves no finding or admission of any violation of applicable law or the rights by Trustee.  The Company need not pay for any
      settlement made without its consent, which consent shall not be unreasonably withheld or delayed.  This indemnification shall apply to officers, directors, employees, shareholders and agents of the Trustee.

    
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    The Company need not reimburse any expense or indemnify against any loss liability incurred by the Trustee or by
      any officer, director, employee, shareholder or agent of the Trustee through negligence or bad faith of the Trustee, as determined by a court of competent jurisdiction no longer subject to appeal or review.

    To secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities
      of any Series on all money or property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Securities of that Series. Such lien shall survive satisfaction and discharge of this Indenture.

    Without limiting any rights available to the Trustee under applicable law, when the Trustee incurs expenses or
      renders services after an Event of Default specified in Section 6.01(f) or (g) occurs, the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of
      administration under any Bankruptcy Law.

    The provisions of this Section shall survive the termination of this Indenture or the resignation or removal of the
      Trustee.

    Section 7.08.  Replacement of Trustee.  A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the
        successor Trustee’s acceptance of appointment as provided in this Section.

    The Trustee may resign with respect to the Securities of one or more Series by so notifying the Company.  The
      Holders of a majority in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee and the Company.  The Company may remove the Trustee with respect to Securities of one or more
      Series if:

    (a) the Trustee fails to comply with Section 7.10, and shall fail to resign after written request therefor by the Company or by any such Holder;

    (b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;

    (c) a Custodian or public officer takes charge of the Trustee or its property; or

    (d) the Trustee becomes incapable of acting.

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

    
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    If a successor Trustee with respect to the Securities of any one or more Series does not take office within 30 days
      after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of a majority in principal amount of the Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of a
      successor Trustee.

    A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the
      Company.  Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.07, and subject to the payment of any and all amounts then due and owing
      to the retiring Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of Securities for which it is acting
      as Trustee under this Indenture.  A successor Trustee shall mail a notice of its succession to each Securityholder of each such Series.  Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section
      7.07 hereof shall continue for the benefit of the retiring trustee with respect to expenses and liabilities incurred by it prior to such replacement.

    Section 7.09.  Successor Trustee by Merger, etc.  Any Corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any
        Corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any Corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee
        hereunder, provided such Corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto.

    Section 7.10.  Eligibility; Disqualification.  This Indenture shall always have a Trustee who satisfies the requirements of TIA Section 310(a)(1), (2) and (5). 
        The Trustee shall always have a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition.  The Trustee shall comply with TIA Section 310(b).

    Section 7.11.  Preferential Collection of Claims Against Company.  The Trustee is subject to TIA Section 311(a), excluding any creditor relationship listed in TIA
        Section 311(b).  A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated.

    ARTICLE 8

        Satisfaction and Discharge; Defeasance

    Section 8.01.  Satisfaction and Discharge of Indenture.  This Indenture shall upon Company Order cease to be of further effect (except as hereinafter provided in
        this Section 8.01), and the Trustee, on the demand of and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when

    
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    (a) either

    
      (i)          all Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and that have been replaced or paid) have been delivered to the Trustee for cancellation; or

      (ii)          all such Securities not theretofore delivered to the Trustee for cancellation have become due and payable, or

      (1)        have become due and payable, or

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

      (3)        are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, or

      (4)        are deemed paid and discharged pursuant to Section 8.03, as applicable; and

      (5)        the Company, in the case of (1), (2) or (3) above, has deposited or caused to be deposited with the Trustee as trust funds in trust an amount sufficient for the purpose of paying and discharging the entire indebtedness on
          such Securities not theretofore delivered to the Trustee for cancellation, for principal and interest to the date of such deposit (in the case of Securities which have become due and payable on or prior to the date of such deposit) or to the
          Stated Maturity or redemption date, as the case may be;

    

    (b) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and

    (c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each meeting the applicable requirements of Sections 10.04 and 10.05 and each
        stating that all conditions precedent herein relating to the satisfaction and discharge of this Indenture have been complied with and the Trustee receives written demand from the Company to discharge.

    Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee
      under Section 7.07, and, if money shall have been deposited with the Trustee pursuant to clause (a) of this Section, the provisions of Sections 2.04, 2.07, 2.08, 8.01 8.02 and 8.05 shall survive.

    
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    Section 8.02.  Application of Trust Funds; Indemnification.  (a) Subject to the provisions of Section 8.05, all money deposited with the Trustee pursuant to
        Section 8.01, all money and U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.03 or 8.04 and all money received by the Trustee in respect of U.S. Government Obligations or Foreign
        Government Obligations deposited with the Trustee pursuant to Section 8.03 or 8.04, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any
        Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of the principal and interest for whose payment such money has been deposited with or received by the Trustee or to
        make mandatory sinking fund payments or analogous payments as contemplated by Sections 8.03 or 8.04.

    (a) The Company shall pay and shall indemnify the Trustee and the Agents against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Foreign
        Government Obligations deposited pursuant to Sections 8.03 or 8.04. or the interest and principal received in respect of such obligations other than any payable by or on behalf of Holders.

    (b) The Trustee shall, in accordance with the terms of this Indenture, deliver or pay to the Company from time to time, upon Company Request and at the expense of the Company any
        U.S. Government Obligations or Foreign Government Obligations or money held by it pursuant to this Indenture as provided in Sections 8.03 or 8.04 which, in the opinion of a nationally recognized firm of independent certified public accountants,
        expressed in a written certification thereof and delivered to the Trustee together with such Company Request, are then in excess of the amount thereof which then would have been required to be deposited for the purpose for which such U.S.
        Government Obligations or Foreign Government Obligations or money were deposited or received.  This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations or Foreign Government Obligations held under this
        Indenture.

    Section 8.03.  Legal Defeasance of Securities of any Series.  Unless this Section 8.03 is otherwise specified, pursuant to Section 2.02(s), to be inapplicable to
        Securities of any Series, the Company shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of such Series on the date the conditions set forth in subparagraph (d) hereof are satisfied, and the
        provisions of this Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the company, shall, at Company Request, execute proper instruments acknowledging the same),
        except as to:

    (a) the rights of Holders of Securities of such Series to receive, from the trust funds described in subparagraph (d) hereof, (i) payment of the principal of and each installment of
        principal of and interest on the outstanding Securities of such Series on the Stated Maturity of such principal or installment of principal or interest and (ii) the benefit of any mandatory sinking fund payments applicable to the Securities of such
        Series on the day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such Series;

    
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    (b) the provisions of Sections 2.04 2.07, 2.08, 2.14, 8.02, 8.03 and 8.05; and

    (c) the rights, powers, trust and immunities of the Trustee hereunder; provided that, the following conditions shall have been satisfied:

    (d) the Company shall have deposited or caused to be deposited irrevocably with the Paying Agent as trust funds in trust for the purpose of making the following payments,
        specifically pledged as security for and dedicated solely to the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars (or such other money or currencies as shall then be
        legal tender in the United States) and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through
        the payment of interest and principal in respect thereof, in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Paying Agent), not later than 10 days before the due date of any
        payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee and the Paying Agent, to pay and discharge each
        installment of principal (including mandatory sinking fund or analogous payments) of and interest, if any, on all the Securities of such Series on the dates such installments of interest or principal are due;

    (e) such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or
        by which it is bound;

    (f) no Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the
        123rd day after such date;

    (g) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that (i) the Company has received from, or there has been
        published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this Indenture, there has been a change in the applicable Federal income tax law, in either case to the effect that, and based thereon such Opinion of
        Counsel shall confirm that, the Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to Federal income tax on the
        same amount and in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred;

    (h) the Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with the intent of preferring the Holders of the
        Securities of such Series over any other creditors of the company or with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company;

    
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    (i) such deposit shall not result in the trust arising from such deposit constituting an investment company (as defined in the Investment Company Act of 1940, as amended), or such
        trust shall be qualified under such Act or exempt from regulation thereunder; and

    (j) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to the
        defeasance contemplated by this Section have been complied with.

    Section 8.04.  Covenant Defeasance.  Unless this Section 8.04 is otherwise specified pursuant to Section 2.02(s) to be inapplicable to Securities of any Series, on
        and after the date on which the conditions set forth in subparagraph (a) hereof are satisfied, the Company may omit to comply with any term, provision or condition set forth under Sections 4.02, 4.03, 4.04, 4.05, 4.06, and 5.01 as well as any
        additional covenants contained in a supplemental indenture hereto for a particular Series of Securities or a Board Resolution or an Officers’ Certificate delivered pursuant to Section 2.02(s) (and the failure to comply with any such covenants shall
        not constitute a Default or Event of Default under Section 6.01) and the occurrence of any event described in clause (e) of Section 6.01 shall not constitute a Default or Event of Default hereunder, with respect to the Securities of such Series,
        provided that the following conditions shall have been satisfied:

    (a) With reference to this Section 8.04, the Company has deposited or caused to be irrevocably deposited (except as provided in Section 8.02(c)) with the Paying Agent as trust funds
        in trust, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars (or such other money or currencies as shall
        then be legal tender in the United States) and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which
        through the payment of interest and principal in respect thereof, in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Paying Agent), not later than 10 days before the due date
        of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent certified public accountants expressed in a written certification thereof delivered to the Paying Agent, to pay principal and
        interest, if any, on and any mandatory sinking fund in respect of the Securities of such Series on the dates such installments of interest or principal are due;

    (b) Such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or
        by which it is bound;

    
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    (c) No Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the
        123rd day after such date;

    (d) the company shall have delivered to the Trustee an Opinion of Counsel confirming that Holders of the Securities of such Series will not recognize income, gain or loss for
        federal income tax purposes as a result of such deposit and defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not
        occurred;

    (e) the Company shall have delivered to the Trustee an Officers’ Certificate stating the deposit was not made by the Company with the intent of preferring the Holders of the
        Securities of such Series over any other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company; and

    (f) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to
        the defeasance contemplated by this Section have been complied with.

    Section 8.05.  Repayment to Company.  The Paying Agent shall pay to the Company upon request any money held by them for the payment of principal and interest that
        remains unclaimed for two years.  After that, Securityholders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person and all liability of the Paying
        Agent with respect to that money shall cease.

    ARTICLE 9

        Amendments and Waivers

    Section 9.01.  Without Consent of Holders.  The Company and the Trustee may amend or supplement this Indenture or the Securities of one or more Series without the
        consent of any Securityholder:

    (a) to cure any ambiguity, defect or inconsistency;

    (b) to comply with Article 5;

    (c) to provide for uncertificated Securities in addition to or in place of certificated Securities;

    (d) to make any change that does not adversely affect the rights of any Securityholder;

    (e) to provide for the issuance of and establish the form and terms and conditions of Securities of any Series as permitted by this Indenture;

    
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    (f) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more Series and to add to or change any of
        the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee;

    (g) to comply with requirements of the TIA and any rules promulgated under the TIA; and

    (h) to add to the covenants of the Company for the equal and ratable benefit of the Holders or to surrender any right, power or option conferred upon the Company.

    Any amendment or supplement made solely to conform the provisions of this Indenture or the Securities of any Series
      to the description thereof contained in the final prospectus relating to such Series will be deemed not to adversely affect the rights of any Holder.

    Section 9.02.  With Consent of Holders.  The Company and the Trustee may enter into a supplemental indenture with the written consent of the Holders of a majority
        in principal amount of the outstanding Securities of all Series affected by such supplemental indenture, taken together as one class (including consents obtained in connection with a tender offer or exchange offer for the Securities of such
        Series), for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Securityholders of each such
        Series.  Except as provided in Section 6.13, the Holders of a majority in principal amount of the outstanding Securities of all Series affected by such waiver by notice to the Trustee, taken together as one class (including consents obtained in
        connection with a tender offer or exchange offer for the Securities of such Series) may waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series.

    It shall not be necessary for the consent of the Holders of Securities under this Section 9.02 to approve the
      particular form of any proposed supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof.  After a supplemental indenture or waiver under this section becomes effective, the Company shall mail to the
      Holders of Securities affected thereby a notice briefly describing the supplemental indenture or waiver.  Any failure by the Company to mail or publish such notice, or any defect therein, shall not, however, in any way impair or affect the validity
      of any such supplemental indenture or waiver.

    Section 9.03.  Limitations.  Without the consent of each Securityholder affected, an amendment or waiver may not:

    (a) change the amount of Securities whose Holders must consent to an amendment, supplement or waiver, except to increase any such amount or to provide that certain provisions of
        this Indenture cannot be modified, amended or waived without the consent of the Holder of each outstanding Security affected thereby;

    
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    (b) reduce the amount of interest, or change the interest payment time, on any Security;

    (c) waive a redemption payment or alter the redemption provisions (other than any alteration that would not materially adversely affect the legal rights of any Holder under this
        Indenture) or the price at which the Company is required to offer to purchase the Securities;

    (d) reduce the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous
        obligation;

    (e) reduce the principal amount payable of any Security upon Maturity;

    (f) waive a Default or Event of Default in the payment of the principal of or interest, if any, on any Security (except a rescission of acceleration of the Securities of any Series
        by the Holders of a majority in principal amount of the outstanding Securities of such Series and a waiver of the payment default that resulted from such acceleration);

    (g) change the place or currency of payment of principal of or interest, if any, on any Security other than that stated in the Security;

    (h) make any change in Sections 10.15 or 10.16 or;

    (i) change the ranking of the Securities.

    Section 9.04.  Compliance with Trust Indenture Act.  Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental
        indenture hereto that complies with the TIA as then in effect.

    Section 9.05.  Revocation and Effect of Consents.  Until an amendment or waiver becomes effective, a consent to it by a Holder of a Security is a continuing
        consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security.  However, any such Holder or
        subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the notice of revocation before the date the amendment or waiver becomes effective.

    Any amendment or waiver once effective shall bind every Securityholder of each Series affected by such amendment or
      waiver unless it is of the type described in any of clauses (a) through (g) of Section 9.03 in that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a
      Security that evidences the same debt as the consenting Holder’s Security.

    Section 9.06.  Notation on or Exchange of Securities.  If an amendment, supplement or waiver changes the terms of a Security, the Trustee may require the Holder of
        the Security to deliver it to the Trustee and the Trustee may place an appropriate notation on the Security about the changed terms and return it to the Holder.  Alternatively, if the Company or the Trustee so determines, the Company shall issue
        and the Trustee shall authenticate upon request new Securities of that Series that reflect the changed terms.

    
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    Section 9.07.  Trustee Protected.  In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the
        modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel or an Officer’s Certificate, or both stating that
        the execution of such supplemental indenture is authorized or permitted by this Indenture.  The Trustee shall sign all supplemental indentures, except that the Trustee need not sign any supplemental indenture that affects its immunities, rights,
        duties or indemnities.

    Section 9.08.  Effect of Supplemental Indenture.  Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in
        accordance therewith, and each such supplemental indenture shall form part of this Indenture for all purposes with respect to the relevant Series; and every Holder of Securities of the relevant Series theretofore or thereafter authenticated and
        delivered hereunder shall be bound thereby.

    ARTICLE 10

        Miscellaneous

    Section 10.01.  Trust Indenture Act Controls.  If any provision of this Indenture limits, qualifies, or conflicts with another provision which is required or deemed
        to be included in this Indenture by the TIA, such required or deemed provision shall control.

    Section 10.02.  Notices.  Any notice or communication by the Company, the Trustee, the Paying Agent or the Registrar to another is duly given if in writing and
        delivered in person or mailed by first-class mail:

    if to the Company:

    Global Ship Lease, Inc.

       25 Wilton Road

       London SW1V 1LW

    Attention: Ian J. Webber

      Tel: +44 (0) 20 3998 0063

    Fax:

    if to the Trustee, Registrar or Paying Agent:

    Wilmington Savings Fund Society, FSB

    500 Delaware Ave.

    Wilmington, DE 19801

    
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    Attn: Global Ship Lease, Inc.

    Tel: 302-573-3218

    Fax: 302-421-9137

    with copy to:

    Seward & Kissel LLP

    One Battery Park Plaza

    New York, NY 1004

    Attn: Gregg S. Bateman, Esq.

    Fax: 212-480-8421

    The Company, the Trustee and each Agent by notice to each other may designate additional or different addresses for
      subsequent notices or communications.

    Any notice or communication to a Securityholder shall be mailed by first-class mail to his address shown on the
      register kept by the Registrar.  Failure to mail a notice or communication to a Securityholder of any Series or any defect in it shall not affect its sufficiency with respect to other Securityholders of that or any other Series.

    If a notice or communication is mailed or published in the manner provided above, within the time prescribed, it is
      duly given, whether or not the Securityholder receives it.

    If the company mails a notice or communication to Securityholders, it will mail a copy to the Trustee and each
      Agent at the same time.

    Whenever a notice is required to be given by the Company, such notice may be given by the Trustee or Registrar on
      the Company’s behalf (and the Company will make any notice it is required to give to Holders available on its website).

    Section 10.03.  Communication
        by Holders with Other Holders.

    Securityholders of any Series may communicate pursuant to TIA Section 312(b) with other Securityholders of that
      Series or any other Series with respect to their rights under this Indenture or the Securities of that Series or all Series.  The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA Section 312(c).

    
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    Section 10.04.  Certificate and Opinion as to Conditions Precedent.  Upon any request or application by the Company to the Trustee to take any action under this
        Indenture, the Company shall furnish to the Trustee:

    (a) an Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been
        complied with; and

    (b) an Opinion of Counsel stating that, in the opinion of counsel, all such conditions precedent (including any covenants, compliance with which constitutes a condition precedent)
        have been complied with.

    Section 10.05.  Statements Required in Certificate or Opinion.  Each certificate or opinion with respect to compliance with a condition or covenant provided for in
        this Indenture (other than a certificate provided pursuant to TIA Section 314(a)(4)) shall comply with the provisions of TIA Section 314(e) and shall include:

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

    (b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions  contained in such certificate or opinion are based;

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

    (d) a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with.

    provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officers’ Certificate
      or certificates of public officials.

    Section 10.06.  Record Date for Vote or Consent of Holders.  The Company (or, in the event deposits have been made pursuant to Section 11.02, the Trustee) may set a
        record date for purposes of determining the identity of Holders entitled to vote or consent to any action by vote or consent authorized or permitted under this Indenture, which record date shall not be more than 90 days prior to the date of the
        commencement of solicitation of such action.  Notwithstanding the provisions of Section 9.05, if a record date is fixed, those persons who were Holders of Securities at the close of business on such record date (or their duly designated proxies),
        and only those persons, shall be entitled to take such action by vote or consent or to revoke any vote or consent previously given, whether or not such persons continue to be Holders after such record date.

    Section 10.07.  Rules by Trustee and Agents.  The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or more Series.  Any Agent
        may make reasonable rules and set reasonable requirements for its functions.

    
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    Section 10.08.  Legal Holidays.  Unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture for a particular Series, a “Legal Holiday” is any day that is not a Business Day.  If a payment date is a Legal Holiday at a place of payment, payment may be made at that place
        on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period.

    Section 10.09.  No Recourse Against Others.  A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations
        of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation.  Each Securityholder by accepting a Security waives and releases all such liability.  The waiver and
        release are part of the consideration for the issue of the Securities.

    Section 10.10.  Counterparts.  This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when
        so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all
        purposes.

    Section 10.11.  Governing Laws and Submission to Jurisdiction.  THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK EXCLUDING
        ANY RULE OF LAW THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF NEW YORK.

    The Company agrees that any legal suit, action or proceeding arising out of or based upon this Indenture may be
      instituted in any federal or state court sitting in New York City, and, to the fullest extent permitted by law, waives any objection which it may now or hereafter have to the laying of venue of any such proceeding, and irrevocably submits to the
      non-exclusive jurisdiction of such court in any suit, action or proceeding.  The Company, as long as any Securities remain outstanding or the parties hereto have any obligation under this Indenture, shall have an authorized agent in the United States
      upon whom process may be served in any such legal action or proceeding. Service of process upon such agent and written notice of such service mailed or delivered to it shall to the extent permitted by law be deemed in every respect effective service
      of process upon it in any such legal action or proceeding and, if it fails to maintain such agent, any such process or summons may be served by mailing a copy thereof by registered mail, or a form of mail substantially equivalent thereto, addressed
      to it at its address as provided for notices hereunder. The Company hereby appoints Seward & Kissel LLP, One Battery Park Plaza, New York, NY, 10004, as its agent for such purposes, and covenants and agrees that service of process in any legal
      action or proceeding may be made upon it at such office of such agent.

    Section 10.12.  No Adverse Interpretation of Other Agreements.  This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company
        or a Subsidiary.  Any such indenture, loan or debt agreement may not be used to interpret this Indenture.

    
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    Section 10.13.  Successors.  All agreements of the Company in this Indenture and the Securities shall bind its successor.  All agreements of the Trustee in this
        Indenture shall bind its successor.

    Section 10.14.  Severability.  In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and
        enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

    Section 10.15.  Table of Contents, Headings, Etc.  The Table of Contents, Cross Reference Table, and headings of the Articles and Sections of this Indenture have
        been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

    Section 10.16.  Securities in a Foreign Currency or in ECU.  Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officers’
        Certificate delivered pursuant to Section 2.02 of this Indenture with respect to a particular Series of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage in aggregate principal
        amount of Securities of all Series or all Series affected by a particular action at the time outstanding and, at such time, there are outstanding Securities of any Series which are denominated in a coin or currency other than Dollars (including
        ECUs), then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such action shall be that amount of Dollars that could be obtained for such amount at the Market Exchange Rate at such
        time.  For purposes of this Section 10.16, “Market Exchange Rate” shall mean the noon Dollar buying rate in New York City for cable transfers of
        that currency as published by the Federal Reserve Bank of New York; provided, however, in the case of ECUs, Market Exchange Rate shall mean the rate of exchange determined by the Commission of the European Union (or any successor thereto) as
        published in the Official Journal of the European Union (such publication or any successor publication, the “Journal”).  If such Market Exchange
        Rate is not available for any reason with respect to such currency, the Trustee shall use, without liability on its part, such quotation of the Federal Reserve Bank of New York or, in the case of ECUs, the rate of exchange as published in the
        Journal, as of the most recent available date, or quotations or, in the case of ECUs, rates of exchange from one or more major banks in The City of New York or in the country of issue of the currency in question or, in the case of ECUs, in
        Luxembourg or such other quotations or, in the case of ECUs, rates of exchange as the Trustee, upon consultation with the Company, shall deem appropriate.  The provisions of this paragraph shall apply in determining the equivalent principal amount
        in respect of Securities of a Series denominated in currency other than Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this Indenture.

    All decisions and determinations of the Trustee regarding the Market Exchange Rate or any alternative determination
      provided for in the preceding paragraph shall be in its sole discretion and shall, in the absence of manifest error, be conclusive to the extent permitted by law for all purposes and irrevocably binding upon the Company and all Holders.

    
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    Section 10.17.  Judgment Currency.  The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of
        obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of or interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of
        exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable judgment is entered,
        unless such day is not a New York Banking Day, then, the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment
        Currency on the New York Banking Day preceding the day on which final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender,
        any recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee,
        of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by
        which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable, and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture.  For purposes of the
        foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close.

    Section 10.18.  Compliance with Applicable Anti-Terrorism and Money Laundering Regulations.  In order to comply with the laws, rules, regulations and executive
        orders in effect from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering (“Applicable Law”), the Trustee is required to obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with the Trustee.  Accordingly, each of the parties agree to
        provide to the Trustee, upon its request from time to time such identifying information and documentation as may be available for such party in order to enable the Trustee to comply with the Applicable Law.

    ARTICLE 11

        Sinking Funds

    Section 11.01.  Applicability of Article.  The provisions of this Article shall be applicable to any sinking fund for the retirement of the Securities of a Series,
        except as otherwise permitted or required by any form of Security of such Series issued pursuant to this Indenture.

    
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    The minimum amount of any sinking fund payment provided for by the terms of the Securities of any Series is herein
      referred to as a “mandatory sinking fund payment” and any other amount provided for by the terms of Securities of such Series is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of any Series, the
      cash amount of any sinking fund payment may be subject to reduction as provided in Section 11.02.  Each sinking fund payment shall be applied to the redemption of Securities of any Series as provided for by the terms of the securities of such Series.

    Section 11.02.  Satisfaction of Sinking Fund Payments with Securities.  The Company may, in satisfaction of all or any part of any sinking fund payment with respect
        to the Securities of any Series to be made pursuant to the terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking fund payment is applicable (other than any of such Securities previously called for
        mandatory sinking fund redemption) and (2) apply as credit Securities of such Series to which such sinking fund payment is applicable and which have been redeemed either at the election of the Company pursuant to the terms of such Series of
        Securities (except pursuant to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or other optional redemptions pursuant to the terms of such Securities, provided that such Securities have not been
        previously so credited.  Such Securities shall be received by the Registrar, together with an Officers’ Certificate with respect thereto, not less than 75 days and not more than 90 days prior to the date on which the Registrar begins the process of
        selecting Securities for redemption, and shall be credited for such purpose by the Registrar at the price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced
        accordingly.  If as a result of the delivery or credit of Securities in lieu of cash payments pursuant to this Section 11.02, the principal amount of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be
        less than $100,000, the Registrar need not call Securities of such Series for redemption, except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Paying Agent and applied to the next succeeding
        sinking fund payment, provided, however, that the Paying Agent shall from time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being held by the Paying Agent upon delivery by the Company to the
        Registrar of Securities of that Series purchased by the Company having an unpaid principal amount equal to the cash payment required to be released to the Company.

    Section 11.03.  Redemption of Securities for Sinking Fund.  Not less than 45 days and not more than 90 days (unless otherwise indicated in the Board Resolution,
        supplemental indenture hereto or Officers’ Certificate in respect of a particular Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Company will deliver to the Trustee and the Paying Agent an Officers’
        Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that Series pursuant to the terms of that Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any,
        which is to be satisfied by delivering and crediting of Securities of that Series pursuant to Section 11.02., and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the Company shall thereupon
        be obligated to pay the amount therein specified.  Not less than 30 days (unless otherwise indicated in the Board Resolution, Officers’ Certificate or supplemental indenture in respect of a particular Series of Securities) before each such sinking
        fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the redemption thereof to be given in the name of and at the expense of the
        Company in the manner provided in Section 3.03.  Such notice having been duly given, the redemption of such Securities shall occur in the manner specified in Sections 3.04, 3.05 and 3.06.

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

    	 	
            GLOBAL SHIP LEASE, INC.

          
	 	
            By:

          	
            /s/ Ian J. Webber

          
	 	 	
            Name: Ian J. Webber

          
	 	 	
            Title: Chief Executive Officer

          

    

    

    

    

    

    

    

    

    

    

    

    

    [Signature Page for Indenture]

    
      
        

    

    

    

    

    

    	 	
            WILMINGTON SAVINGS FUND SOCIETY, FSB

              as Trustee, Registrar and Paying Agent

          
	 	
            By:

          	
            /s/ Geoffrey J. Lewis

          
	 	 	
            Name: Geoffrey J. Lewis

          
	 	 	
            Title: Vice President

          

    

    

    	 	 
	 	
            By:

          	
            /s/ Haley A. Harris

          
	 	 	
            Name: Haley A. Harris

          
	 	 	
            Title: Trust Officer

          

    

    

    

    

    

    

    

    

    

    [Signature Page for Indenture]

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