Document:

Exhibit

Exhibit 4.5

SPECTRUM PHARMACEUTICALS, INC. 
 
SENIOR DEBT SECURITIES 
 

 
INDENTURE 
 
Dated as of 
 

 
Trustee 
 

TABLE OF CONTENTS

	
					
	 
	 
	 
	Page

	 
	 
	 
	 

	ARTICLE 1
	DEFINITIONS
	1
	

	 
	Section 1.01
	Definitions of Terms
	1
	

	ARTICLE 2
	ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES
	5
	

	 
	Section 2.01
	Designation and Terms of Securities
	6
	

	 
	Section 2.02
	Form of Securities and Trustee’s Certificate
	8
	

	 
	Section 2.03
	Denominations: Provisions for Payment
	8
	

	 
	Section 2.04
	Execution and Authentications
	10
	

	 
	Section 2.05
	Registration of Transfer and Exchange
	11
	

	 
	Section 2.06
	Temporary Securities
	12
	

	 
	Section 2.07
	Mutilated, Destroyed, Lost or Stolen Securities
	13
	

	 
	Section 2.08
	Cancellation
	14
	

	 
	Section 2.09
	Benefits of Indenture
	14
	

	 
	Section 2.10
	Authenticating Agent
	14
	

	 
	Section 2.11
	Global Securities
	15
	

	ARTICLE 3
	REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS
	16
	

	 
	Section 3.01
	Redemption
	16
	

	 
	Section 3.02
	Notice of Redemption
	16
	

	 
	Section 3.03
	Payment Upon Redemption
	18
	

	 
	Section 3.04
	Sinking Fund
	18
	

	 
	Section 3.05
	Satisfaction of Sinking Fund Payments with Securities
	18
	

	 
	Section 3.06
	Redemption of Securities for Sinking Fund
	19
	

	ARTICLE 4
	COVENANTS
	19
	

	 
	Section 4.01
	Payment of Principal, Premium and Interest
	19
	

	 
	Section 4.02
	Maintenance of Office or Agency
	20
	

	 
	Section 4.03
	Paying Agents
	20
	

	ARTICLE 5
	SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE
	21
	

	 
	Section 5.01
	Company to Furnish Trustee Names and Addresses of Securityholders
	21
	

	 
	Section 5.02
	Preservation Of Information; Communications With Securityholders
	22
	

	 
	Section 5.03
	Reports by the Company
	22
	

	 
	Section 5.04
	Reports by the Trustee
	23
	

	ARTICLE 6
	REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT
	23
	

	 
	Section 6.01
	Events of Default
	24
	

	 
	Section 6.02
	Collection of Indebtedness and Suits for Enforcement by Trustee
	25
	

	 
	Section 6.03
	Application of Moneys Collected
	27
	

	 
	Section 6.04
	Limitation on Suits
	28
	

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TABLE OF CONTENTS 
(cont.)

	
					
	 
	 
	 
	Page

	 
	 
	 
	 

	 
	Section 6.05
	Rights and Remedies Cumulative; Delay or Omission Not Waiver
	28
	

	 
	Section 6.06
	Control by Securityholders
	29
	

	 
	Section 6.07
	Undertaking to Pay Costs
	29
	

	ARTICLE 7
	CONCERNING THE TRUSTEE
	30
	

	 
	Section 7.01
	Certain Duties and Responsibilities of Trustee
	30
	

	 
	Section 7.02
	Certain Rights of Trustee
	31
	

	 
	Section 7.03
	Trustee Not Responsible for Recitals or Issuance or Securities
	33
	

	 
	Section 7.04
	May Hold Securities
	33
	

	 
	Section 7.05
	Moneys Held in Trust
	33
	

	 
	Section 7.06
	Compensation and Reimbursement
	33
	

	 
	Section 7.07
	Reliance on Officers’ Certificate
	34
	

	 
	Section 7.08
	Disqualification; Conflicting Interests
	34
	

	 
	Section 7.09
	Corporate Trustee Required; Eligibility
	34
	

	 
	Section 7.10
	Resignation and Removal; Appointment of Successor
	35
	

	 
	Section 7.11
	Acceptance of Appointment By Successor
	36
	

	 
	Section 7.12
	Merger, Conversion, Consolidation or Succession to Business
	37
	

	 
	Section 7.13
	Preferential Collection of Claims Against the Company
	38
	

	 
	Section 7.14
	Notice of Default
	38
	

	ARTICLE 8
	CONCERNING THE SECURITYHOLDERS
	38
	

	 
	Section 8.01
	Evidence of Action by Securityholders
	38
	

	 
	Section 8.02
	Proof of Execution by Securityholders
	39
	

	 
	Section 8.03
	Who May be Deemed Owners
	39
	

	 
	Section 8.04
	Certain Securities Owned by Company Disregarded
	40
	

	 
	Section 8.05
	Actions Binding on Future Securityholders
	40
	

	ARTICLE 9
	SUPPLEMENTAL INDENTURES
	41
	

	 
	Section 9.01
	Supplemental Indentures Without the Consent of Securityholders
	41
	

	 
	Section 9.02
	Supplemental Indentures With Consent of Securityholders
	42
	

	 
	Section 9.03
	Effect of Supplemental Indentures
	43
	

	 
	Section 9.04
	Securities Affected by Supplemental Indentures
	44
	

	 
	Section 9.05
	Execution of Supplemental Indentures
	44
	

	ARTICLE 10
	SUCCESSOR ENTITY
	44
	

	 
	Section 10.01
	Company May Consolidate, Etc
	44
	

	 
	Section 10.02
	Successor Entity Substituted
	45
	

	 
	Section 10.03
	Evidence of Consolidation, Etc. to Trustee
	46
	

	ARTICLE 11
	SATISFACTION AND DISCHARGE
	46
	

	 
	Section 11.01
	Satisfaction and Discharge of Indenture
	46
	

	 
	Section 11.02
	Discharge of Obligations
	47
	

	 
	Section 11.03
	Deposited Moneys to be Held in Trust
	47
	

ii

TABLE OF CONTENTS 
(cont.)

	
					
	 
	 
	 
	Page

	 
	 
	 
	 

	 
	Section 11.04
	Payment of Moneys Held by Paying Agents
	47
	

	 
	Section 11.05
	Repayment to Company
	47
	

	ARTICLE 12
	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	48
	

	 
	Section 12.01
	No Recourse
	48
	

	ARTICLE 13
	MISCELLANEOUS PROVISIONS
	49
	

	 
	Section 13.01
	Effect on Successors and Assigns
	49
	

	 
	Section 13.02
	Actions by Successor
	49
	

	 
	Section 13.03
	Surrender of Company Powers
	49
	

	 
	Section 13.04
	Notices
	49
	

	 
	Section 13.05
	Governing Law
	49
	

	 
	Section 13.06
	Treatment of Securities as Debt
	49
	

	 
	Section 13.07
	Certificates and Opinions as to Conditions Precedent
	50
	

	 
	Section 13.08
	Payments on Business Days
	50
	

	 
	Section 13.09
	Conflict with Trust Indenture Act
	50
	

	 
	Section 13.10
	Counterparts
	51
	

	 
	Section 13.11
	Separability
	51
	

	 
	Section 13.12
	Compliance Certificates
	51
	

	 
	 
	 
	 

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INDENTURE
INDENTURE, dated as of [                       ], 201(_), between SPECTRUM PHARMACEUTICALS, INC., a Delaware corporation (the “Company”), and [TRUSTEE], as trustee (the “Trustee”):
WHEREAS, for its lawful corporate purposes, the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of debt securities, in an unlimited aggregate principal amount to be issued from time to time in one or more series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of the Trustee;
WHEREAS, to provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this Indenture; and
WHEREAS, all things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done.
NOW, THEREFORE, in consideration of the premises and the purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities:
Article 1
DEFINITIONS
Section 1.01    Definitions of Terms.
The terms defined in this Section (except as in this Indenture or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section and shall include the plural as well as the singular.  All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939, as amended, or that are by reference in such Act defined in the Securities Act of 1933, as amended (the “Securities Act”) (except as herein or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act as in force at the date of the execution of this instrument.
“Authenticating Agent” means an authenticating agent with respect to all or any of the series of Securities appointed by the Trustee pursuant to Section 2.10.
“Bankruptcy Law” means Title 11, U.S. Code, 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 of such Board.

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“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification.
“Business Day” means, with respect to any series of Securities, any day other than a day on which federal or state banking institutions in the Borough of Manhattan, the City of New York, or in the city of the Corporate Trust Office of the Trustee, are authorized or obligated by law, executive order or regulation to close.
“Certificate” means a certificate signed by any Officer.  The Certificate need not comply with the provisions of Section 13.07.
“Company” means Spectrum Pharmaceuticals, Inc., a corporation duly organized and existing under the laws of the State of Delaware, and, subject to the provisions of Article Ten, shall also include its successors and assigns.
“Corporate Trust Office” means the office of the Trustee at which, at any particular time, its corporate trust business shall be principally administered, which office at the date hereof is located at [            ].
“Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.
“Default” means any event, act or condition that with notice or lapse of time, or both, would constitute an Event of Default.
“Defaulted Interest” has the meaning set forth in Section 2.03.
“Depositary” means, with respect to Securities of any series for which the Company shall determine that such Securities will be issued as a Global Security, The Depository Trust Company, New York, New York, another clearing agency, or any successor registered as a clearing agency under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or other applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.01 or 2.11.
“Event of Default” means, with respect to Securities of a particular series, any event specified in Section 6.01, continued for the period of time, if any, therein designated.
“Global Security” means, with respect to any series of Securities, a Security executed by the Company and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of the Depositary or its nominee.
“Governmental Obligations” means securities that are (a) direct obligations of the United States of America or the other government or governments which issued the foreign currency in which the principal of (or premium, if any) or interest on such Security in respect thereof shall be payable, in each case where 

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the timely payment or payments thereunder are supported by the full faith and credit of such government or governments or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America or the government or governments that issued the foreign currency in which the principal of (or premium, if any) or interest on such Security in respect thereof shall be payable, in each case where the timely payment or payments thereunder are unconditionally guaranteed as a full faith and credit obligation by the United States of America or such other government or governments, and which, in the case of (a) or (b), are not callable or redeemable at the option of the issuer thereof at any time prior to the stated maturity of the Securities, and shall also include a depositary receipt issued by a bank or trust company as custodian with respect to any such Governmental Obligation or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian for the account of the holder of such depositary receipt; provided, however, that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary receipt.
“herein”, “hereof” and “hereunder”, and other words of similar import, refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.
“Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into in accordance with the terms hereof.
“Interest Payment Date”, when used with respect to any installment of interest on a Security of a particular series, means the date specified in such Security or in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect to Securities of that series is due and payable.
“Notice of Default” shall have the meaning as set forth in Section 6.01(a)(iii).
“Officer” means, with respect to the Company, the chairman of the Board of Directors, a chief executive officer, a president, a chief financial officer, a chief operating officer, any executive vice president, any senior vice president, any vice president, the treasurer or any assistant treasurer, the controller or any assistant controller or the secretary or any assistant secretary.
“Officers’ Certificate” means a certificate signed by any two Officers.  Each such certificate shall include the statements provided for in Section 13.07, if and to the extent required by the provisions thereof.
“Opinion of Counsel” means an opinion in writing subject to customary exceptions of legal counsel, who may be an employee of or counsel for the Company, that is delivered to the Trustee in accordance with the terms hereof.  Each such opinion shall include the statements provided for in Section 13.07, if and to the extent required by the provisions thereof.

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“Outstanding”, when used with reference to Securities of any series, means, subject to the provisions of Section 8.04, as of any particular time, all Securities of that series theretofore authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled by the Trustee or any paying agent, or delivered to the Trustee or any paying agent for cancellation or that have previously been canceled; (b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary amount shall have been deposited in trust with the Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however, that if such Securities or portions of such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in Article Three provided, or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities in lieu of or in substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07.
“Person” means any individual, corporation, partnership, joint venture, joint-stock company, limited liability company, association, trust, unincorporated organization, any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof.
“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security.
“Responsible Officer” when used with respect to the Trustee means the chairman of its board of directors, the chief executive officer, the president, any vice president, the secretary, the treasurer, any trust officer, any corporate trust officer or any other officer or assistant officer of the Trustee customarily performing functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with the particular subject.
“Securities” means the debt Securities authenticated and delivered under this Indenture.
“Security Register” and “Security Registrar” shall have the meanings as set forth in Section 2.05.
“Securityholder”, “holder of Securities”, “registered holder”, or other similar term, means the Person or Persons in whose name or names a particular Security shall be registered on the books of the Company kept for that purpose in accordance with the terms of this Indenture.
“Subsidiary” means, with respect to any Person, (i) any corporation at least a majority of whose outstanding Voting Stock shall at the time be owned, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, (ii) any general partnership, joint venture or similar entity, at least a majority of whose outstanding partnership or similar interests shall at the time be owned by such Person, or by one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries and (iii) any limited partnership of which such Person or any of its Subsidiaries is a general partner.

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“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended.
 “Trustee” means [               ], and, subject to the provisions of Article Seven, shall also include its successors and assigns, and, if at any time there is more than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person.  The term “Trustee” as used with respect to a particular series of the Securities shall mean the trustee with respect to that series.
 “Voting Stock”, as applied to stock of any Person, means shares, interests, participations or other equivalents in the equity interest (however designated) in such Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other than shares, interests, participations or other equivalents having such power only by reason of the occurrence of a contingency.
ARTICLE 2 
ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE 
OF SECURITIES
Section 2.01    Designation and Terms of Securities.
(a)    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 up to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution or pursuant to one or more indentures supplemental hereto.  Prior to the initial issuance of Securities of any series, there shall be established in or pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or more indentures supplemental hereto:
(1)    the title of the Securities of the series (which shall distinguish the Securities of that series from all other Securities);
(2)    any limit upon the aggregate principal amount of the Securities of that series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of that series);
(3)    the date or dates on which the principal of the Securities of the series is payable, any original issue discount that may apply to the Securities of that series upon their issuance, the principal amount due at maturity, and the place(s) of payment;
(4)    the rate or rates at which the Securities of the series shall bear interest or the manner of calculation of such rate or rates, if any;
(5)    the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will be payable or the manner of determination of such Interest Payment Dates, the place(s) of payment, and the record date for the determination of holders to whom interest is payable on any such Interest Payment Dates or the manner of determination of such record dates;
(6)    the right, if any, to extend the interest payment periods and the duration of such extension;

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(7)    the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company;
(8)    the obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund, mandatory redemption, or analogous provisions (including payments made in cash in satisfaction of future sinking fund obligations) or at the option of a holder thereof and the period or periods within which, the price or prices at which, and the terms and conditions upon which, Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;
(9)    the form of the Securities of the series including the form of the certificate of authentication for such series;
(10)    if other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, the denominations in which the Securities of the series shall be issuable;
(11)    any and all other terms (including terms, to the extent applicable, relating to any auction or remarketing of the Securities of that series and any security for the obligations of the Company with respect to such Securities) with respect to such series (which terms shall not be inconsistent with the terms of this Indenture, as amended by any supplemental indenture) including any terms which may be required by or advisable under United States laws or regulations or advisable in connection with the marketing of Securities of that series;
(12)    whether the Securities are issuable as a Global Security and, in such case, the terms and the identity of the Depositary for such series;
(13)    whether the Securities will be convertible into or exchangeable for shares of common stock or other securities of the Company or any other Person and, if so, the terms and conditions upon which such Securities will be so convertible or exchangeable, including the conversion or exchange price, as applicable, or how it will be calculated and may be adjusted, any mandatory or optional (at the Company’s option or the holders’ option) conversion or exchange features, and the applicable conversion or exchange period;
(14)    if other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01;
(15)    any additional or different Events of Default or restrictive covenants (which may include, among other restrictions, restrictions on the Company’s ability or the ability of the Company’s Subsidiaries to:  incur additional indebtedness; issue additional securities; create liens; pay dividends or make distributions in respect of their capital stock; redeem capital stock; place restrictions on such Subsidiaries placing restrictions on their ability to pay dividends, make distributions or transfer assets; make investments or other restricted payments; sell or otherwise dispose of assets; enter into sale-leaseback transactions; engage in transactions with stockholders or affiliates; issue or sell stock of their Subsidiaries; or effect a consolidation or merger) or financial covenants (which may include, among other 

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financial covenants, financial covenants that require the Company and its Subsidiaries to maintain specified interest coverage, fixed charge, cash flow-based or asset-based ratios) provided for with respect to the Securities of the series;
(16)    if other than U.S. dollars, the coin or currency in which the Securities of the series are denominated (including, but not limited to, foreign currency);
(17)    the terms and conditions, if any, upon which the Company shall pay amounts in addition to the stated interest, premium, if any, and principal amounts of the Securities of the series to any Securityholder that is not a “United States person” for federal tax purposes; and
(18)    any restrictions on transfer, sale or assignment of the Securities of the series.
All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to any such Board Resolution or in any indentures supplemental hereto.
If any of the terms of the series are established by action taken pursuant to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the secretary or an assistant secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate of the Company setting forth the terms of the series.
Securities of any particular series may be issued at various times, with different dates on which the principal or any installment of principal is payable, with different rates of interest, if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable and with different redemption dates.
Section 2.02    Form of Securities and Trustee’s Certificate.
The Securities of any series and the Trustee’s certificate of authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one or more indentures supplemental hereto or as provided in a Board Resolution, and set forth in an Officers’ Certificate, and they may have such letters, numbers or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange on which Securities of that series may be listed, or to conform to usage.
Section 2.03    Denominations: Provisions for Payment.
The Securities shall be issuable as registered Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.01(a)(10).  The Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series.  Subject to Section 2.01(a)(16), the principal of and the interest on the Securities of any series, as well as any premium thereon in case of redemption thereof prior to maturity, shall be payable in the coin or 

7

currency of the United States of America that at the time is legal tender for public and private debt, at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City and State of New York.  Each Security shall be dated the date of its authentication.  Interest on the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months.
The interest installment on any Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest installment.  In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03.
Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1) or clause (2) below:
(1)    The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner:  the Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided.  Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment.  The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register (as hereinafter defined), not less than 10 days prior to such special record date.  Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date and shall be no longer payable pursuant to the following clause (2).
(2)    The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given 

8

by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Unless otherwise set forth in a Board Resolution or one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof, the term “regular record date” as used in this Section with respect to a series of Securities and any Interest Payment Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the first day of a month, or the first day of the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth day of a month, whether or not such date is a Business Day.
Subject to the foregoing provisions of this Section, each Security of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security.
Section 2.04    Execution and Authentications.
The Securities shall be signed on behalf of the Company by one of its Officers.  Signatures may be in the form of a manual or facsimile signature.
The Company may use the facsimile signature of any Person who shall have been an Officer, notwithstanding the fact that at the time the Securities shall be authenticated and delivered or disposed of such Person shall have ceased to be such an officer of the Company.  The seal of the Company may be in the form of a facsimile of such seal and may be impressed, affixed, imprinted or otherwise reproduced on the Securities.  The Securities may contain such notations, legends or endorsements required by law, stock exchange rule or usage.  Each Security shall be dated the date of its authentication by the Trustee.
A Security shall not be valid until authenticated manually by an authorized signatory of the Trustee, or by an Authenticating Agent.  Such signature shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture.  At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a written order of the Company for the authentication and delivery of such Securities, signed by an Officer, and the Trustee in accordance with such written order shall authenticate and deliver such Securities.
In authenticating such Securities and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the form and terms thereof have been established in conformity with the provisions of this Indenture.

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The Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee.
Section 2.05    Registration of Transfer and Exchange.
(a)    Securities of any series may be exchanged upon presentation thereof at the office or agency of the Company designated for such purpose in the Borough of Manhattan, the City and State of New York, for other Securities of such series of authorized denominations, and for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, all as provided in this Section.  In respect of any Securities so surrendered for exchange, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in exchange therefor the Security or Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding.
(b)    The Company shall keep, or cause to be kept, at its office or agency designated for such purpose in the Borough of Manhattan, the City and State of New York, or such other location designated by the Company, a register or registers (herein referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall register the Securities and the transfers of Securities as in this Article provided and which at all reasonable times shall be open for inspection by the Trustee.  The registrar for the purpose of registering Securities and transfer of Securities as herein provided shall be appointed as authorized by Board Resolution (the “Security Registrar”).
Upon surrender for transfer of any Security at the office or agency of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented for a like aggregate principal amount.
All Securities presented or surrendered for exchange or registration of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the registered holder or by such holder’s duly authorized attorney in writing.
(c)    Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or more indentures supplemental to this Indenture, no service charge shall be made for any exchange or registration of transfer of Securities, or issue of new Securities in case of partial redemption of any series, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, other than exchanges pursuant to Section 2.06, Section 3.03(b) and Section 9.04 not involving any transfer.
(d)    The Company shall not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of less than all the Outstanding Securities of the same series and ending at the close of business on the day of such mailing, nor (ii) to register the transfer of or exchange any Securities of any 

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series or portions thereof called for redemption, other than the unredeemed portion of any such Securities being redeemed in part.  The provisions of this Section 2.05 are, with respect to any Global Security, subject to Section 2.11.
Section 2.06    Temporary Securities.
Pending the preparation of definitive Securities of any series, the Company may execute, and the Trustee shall authenticate and deliver, temporary Securities (printed, lithographed, typewritten or otherwise produced) of any authorized denomination.  Such temporary Securities shall be substantially in the form of the definitive Securities in lieu of which they are issued, but with such omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company.  Every temporary Security of any series shall be executed by the Company and be authenticated by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities of such series.  Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon any or all temporary Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the office or agency of the Company designated for the purpose in the Borough of Manhattan, the City and State of New York, and the Trustee shall authenticate and such office or agency shall deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the effect that definitive Securities need not be executed and furnished until further notice from the Company.  Until so exchanged, the temporary Securities of such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated and delivered hereunder.
Section 2.07    Mutilated, Destroyed, Lost or Stolen Securities.
In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon the Company’s request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen.  In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant’s Security and of the ownership thereof.  The Trustee may authenticate any such substituted Security and deliver the same upon the written request or authorization of any officer of the Company.  Upon the issuance of any substituted Security, 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.
In case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Security) if the applicant for such 

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payment shall furnish to the Company and the Trustee such security or indemnity as they may require to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof.
Every replacement Security issued pursuant to the provisions of this Section shall constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of the same series duly issued hereunder.  All Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender.
Section 2.08    Cancellation.
All Securities surrendered for the purpose of payment, redemption, exchange or registration of transfer shall, if surrendered to the Company or any paying agent, be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be canceled by it, and no Securities shall be issued in lieu thereof except as expressly required or permitted by any of the provisions of this Indenture.  On request of the Company at the time of such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee.  In the absence of such request the Trustee may dispose of canceled Securities in accordance with its standard procedures and deliver a certificate of disposition to the Company.  If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.
Section 2.09    Benefits of Indenture.
Nothing in this Indenture or in the Securities, express or implied, shall give or be construed to give to any Person, other than the parties hereto and the holders of the Securities any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such covenants, conditions and provisions being for the sole benefit of the parties hereto and of the holders of the Securities.
Section 2.10    Authenticating Agent.
So long as any of the Securities of any series remain Outstanding there may be an Authenticating Agent for any or all such series of Securities which the Trustee shall have the right to appoint.  Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer or partial redemption thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder.  All references in this Indenture to the authentication of Securities by the Trustee shall be deemed to include authentication by an Authenticating Agent for such series.  Each 

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Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently reported or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to conduct such business and is subject to supervision or examination by federal or state authorities.  If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately.
Any Authenticating Agent may at any time resign by giving written notice of resignation to the Trustee and to the Company.  The Trustee may at any time (and upon request by the Company shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company.  Upon resignation, termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to the Company.  Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto.
Section 2.11    Global Securities.
(a)    If the Company shall establish pursuant to Section 2.01 that the Securities of a particular series are to be issued as a Global Security, then the Company shall execute and the Trustee shall, in accordance with Section 2.04, authenticate and deliver, a Global Security that (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, all of the Outstanding Securities of such series, (ii) shall be registered in the name of the Depositary or its nominee, (iii) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction and (iv) shall bear a legend substantially to the following effect:  “Except as otherwise provided in Section 2.11 of the Indenture, this Security may be transferred, in whole but not in part, only to another nominee of the Depositary or to a successor Depositary or to a nominee of such successor Depositary.”
(b)    Notwithstanding the provisions of Section 2.05, the Global Security of a series may be transferred, in whole but not in part and in the manner provided in Section 2.05, only to another nominee of the Depositary for such series, or to a successor Depositary for such series selected or approved by the Company or to a nominee of such successor Depositary.
(c)    If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, or if an Event of Default has occurred and is continuing and the Company has received a request from the Depositary, this Section 2.11 shall no longer be applicable to the Securities of such series and the Company will execute, and subject to Section 2.04, the Trustee will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in 

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exchange for such Global Security.  In addition, the Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the provisions of this Section 2.11 shall no longer apply to the Securities of such series.  In such event the Company will execute and, subject to Section 2.04, the Trustee, upon receipt of an Officers’ Certificate evidencing such determination by the Company, will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security.  Upon the exchange of the Global Security for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security shall be canceled by the Trustee.  Such Securities in definitive registered form issued in exchange for the Global Security pursuant to this Section 2.11(c) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee.  The Trustee shall deliver such Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered.
ARTICLE 3 
REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS
Section 3.01    Redemption.
The Company may redeem the Securities of any series issued hereunder on and after the dates and in accordance with the terms established for such series pursuant to Section 2.01 hereof.
Section 3.02    Notice of Redemption.
(a)    In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Securities of any series in accordance with any right the Company reserved for itself to do so pursuant to Section 2.01 hereof, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Securities of such series to be redeemed by mailing, first class postage prepaid, a notice of such redemption not less than 30 days and not more than 90 days before the date fixed for redemption of that series to such holders at their last addresses as they shall appear upon the Security Register, unless a shorter period is specified in the Securities to be redeemed.  Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the registered holder receives the notice.  In any case, failure duly to give such notice to the holder of any Security of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the proceedings for the redemption of any other Securities of such series or any other series.  In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with any such restriction.
Each such notice of redemption shall specify the date fixed for redemption and the redemption price at which Securities of that series are to be redeemed, and shall state that payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company in the Borough of Manhattan, the City and State of New York, upon presentation and surrender of such 

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Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice, that from and after said date interest will cease to accrue and that the redemption is for a sinking fund, if such is the case.  If less than all the Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in part shall specify the particular Securities to be so redeemed.
In case any Security is to be redeemed in part only, the notice that relates to such Security shall state the portion of the principal amount thereof to be redeemed, and shall state that on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series in principal amount equal to the unredeemed portion thereof will be issued.
(b)    If less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least 45 days’ notice (unless a shorter notice shall be satisfactory to the Trustee) in advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed, and thereupon the Trustee shall select, by lot or in such other manner as it shall deem appropriate and fair in its discretion and that may provide for the selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any integral multiple thereof) of the principal amount of such Securities of a denomination larger than $1,000, the Securities to be redeemed and shall thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed, in whole or in part.  The Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Officer, instruct the Trustee or any paying agent to call all or any part of the Securities of a particular series for redemption and to give notice of redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name as the Trustee or such paying agent may deem advisable.  In any case in which notice of redemption is to be given by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or such paying agent to give any notice by mail that may be required under the provisions of this Section.
Section 3.03    Payment Upon Redemption.
(a)    If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities of the series to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and interest on such Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such Security or portion thereof.  On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and redeemed at the applicable redemption price for such series, together with interest accrued thereon to the date fixed for redemption (but if the date fixed for redemption is an interest payment date, the interest installment payable on such date shall be payable to the registered holder at the close of business on the applicable record date pursuant to Section 2.03).

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(b)    Upon presentation of any Security of such series that is to be redeemed in part only, the Company shall execute and the Trustee shall authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense of the Company, a new Security of the same series of authorized denominations in principal amount equal to the unredeemed portion of the Security so presented.
Section 3.04    Sinking Fund.
The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated by Section 2.01 for Securities of such series.
The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment”.  If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05.  Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series.
Section 3.05    Satisfaction of Sinking Fund Payments with Securities.
The Company (i) may deliver Outstanding Securities of a series and (ii) may apply as a credit Securities of a series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by the terms of such series, provided that such Securities have not been previously so credited.  Such Securities shall be received and credited for such purpose by the Trustee at the redemption price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.
Section 3.06    Redemption of Securities for Sinking Fund.
Not less than 45 days prior to each sinking fund payment date for any series of Securities (unless a shorter period shall be satisfactory to the Trustee), the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that is to be satisfied by delivering and crediting Securities of that series pursuant to Section 3.05 and the basis for such credit and will, together with such Officers’ Certificate, deliver to the Trustee any Securities to be so delivered.  Not less than 30 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 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 3.02.  Such 

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notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section 3.03.
ARTICLE 4 
COVENANTS
Section 4.01    Payment of Principal, Premium and Interest.
The Company will duly and punctually pay or cause to be paid the principal of (and premium, if any) and interest on the Securities of that series at the time and place and in the manner provided herein and established with respect to such Securities.  Payments of principal on the Securities may be made at the time provided herein and established with respect to such Securities by U.S. dollar check drawn on and mailed to the address of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account (such wire transfer to be made only to a Securityholder of an aggregate principal amount of Securities of the applicable series in excess of U.S. $2,000,000 and only if such Securityholder shall have furnished wire instructions to the Trustee no later than 15 days prior to the relevant payment date).  Payments of interest on the Securities may be made at the time provided herein and established with respect to such Securities by U.S. dollar check mailed to the address of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account (such a wire transfer to be made only to a Securityholder of an aggregate principal amount of Securities of the applicable series in excess of U.S. $2,000,000 and only if such Securityholder shall have furnished wire instructions in writing to the Security Registrar and the Trustee no later than 15 days prior to the relevant payment date).
Section 4.02    Maintenance of Office or Agency.
So long as any series of the Securities remain Outstanding, the Company agrees to maintain an office or agency in the Borough of Manhattan, the City and State of New York, with respect to each such series and at such other location or locations as may be designated as provided in this Section 4.02, where (i) Securities of that series may be presented for payment, (ii) Securities of that series may be presented as herein above authorized for registration of transfer and exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be given or served, such designation to continue with respect to such office or agency until the Company shall, by written notice signed by any officer authorized to sign an Officers’ Certificate and delivered to the Trustee, designate some other office or agency for such purposes or any of them.  If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, notices and demands.  The Company initially appoints the Corporate Trust Office of the Trustee located in the Borough of Manhattan, the City of New York as its paying agent with respect to the Securities.
Section 4.03    Paying Agents.

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(a)    If the Company shall appoint one or more paying agents for all or any series of the Securities, other than the Trustee, the Company will cause each such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section:
(1)    that it will hold all sums held by it as such agent for the payment of the principal of (and premium, if any) or interest on the Securities of that series (whether such sums have been paid to it by the Company or by any other obligor of such Securities) in trust for the benefit of the Persons entitled thereto;
(2)    that it will give the Trustee notice of any failure by the Company (or by any other obligor of such Securities) to make any payment of the principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and payable;
(3)    that it will, at any time during the continuance of any failure referred to in the preceding paragraph (a)(2) above, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent; and
(4)    that it will perform all other duties of paying agent as set forth in this Indenture.
(b)    If the Company shall act as its own paying agent with respect to any series of the Securities, it will on or before each due date of the principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay such principal (and premium, if any) or interest so becoming due on Securities of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of such action, or any failure (by it or any other obligor on such Securities) to take such action.  Whenever the Company shall have one or more paying agents for any series of Securities, it will, prior to each due date of the principal of (and premium, if any) or interest on any Securities of that series, deposit with the paying agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly notify the Trustee of this action or failure so to act.
(c)    Notwithstanding anything in this Section to the contrary, (i) the agreement to hold sums in trust as provided in this Section is subject to the provisions of Section 11.05, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in trust by the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such sums were held by the Company or such paying agent; and, upon such payment by the Company or any paying agent to the Trustee, the Company or such paying agent shall be released from all further liability with respect to such money.

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ARTICLE 5 
SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE 
TRUSTEE
Section 5.01    Company to Furnish Trustee Names and Addresses of Securityholders.
The Company will furnish or cause to be furnished to the Trustee (a) within 15 days after each regular record date (as defined in Section 2.03) a list, in such form as the Trustee may reasonably require, of the names and addresses of the holders of each series of Securities as of such regular record date, provided that the Company shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the Company and (b) at such other times as the Trustee may request in writing within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; provided, however, that, in either case, no such list need be furnished for any series for which the Trustee shall be the Security Registrar.
Section 5.02    Preservation Of Information; Communications With Securityholders.
(a)    The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and addresses of holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such capacity).
(b)    The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so furnished.
(1)    Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act with other Securityholders with respect to their rights under this Indenture or under the Securities, and, in connection with any such communications, the Trustee shall satisfy its obligations under Section 312(b) of the Trust Indenture Act in accordance with the provisions of Section 312(b) of the Trust Indenture Act.
Section 5.03    Reports by the Company.
(a)    The Company covenants and agrees to provide to the Trustee (which delivery may be via electronic mail), after the Company files the same with the Securities and Exchange Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Securities and Exchange Commission may from time to time by rules and regulations prescribe) that the Company files with the Securities and Exchange Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of such sections, then to file with the Trustee, in accordance with the rules and regulations prescribed from time to time by the Securities and Exchange Commission, such of the supplementary and periodic information, documents and reports that may be required pursuant to Section 13 of the Exchange Act, in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; provided, however, the 

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Company shall not be required to deliver to the Trustee any materials for which the Company has sought and received confidential treatment by the Securities and Exchange Commission; and provided further, so long as such filings are available on the Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR) or any successor system thereto, such filings shall be deemed to have been filed with the Trustee for purposes of this Section 5.03 without any further action required by the Company.
(b)    The Company covenants and agrees to file with the Trustee and the Securities and Exchange Commission, in accordance with the rules and regulations prescribed from to time by the Securities and Exchange Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants provided for in this Indenture as may be required from time to time by such rules and regulations.
(c)    The Company covenants and agrees to transmit by mail, first class postage prepaid, or reputable over-night delivery service that provides for evidence of receipt, or in accordance with the applicable procedures of DTC, to the Securityholders, as their names and addresses appear upon the Security Register, within 30 days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by the Company pursuant to subsections (a) and (b) of this Section as may be required by rules and regulations prescribed from time to time by the Securities and Exchange Commission.
Section 5.04    Reports by the Trustee.
(a)    If required by Section 313(a) of the Trust Indenture Act, the Trustee, within 60 days after each May 1, shall transmit by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register, a brief report dated as of such May 1, which complies with Section 313(a) of the Trust Indenture Act.
(b)    The Trustee shall comply with Section 313(b) and 313(c) of the Trust Indenture Act.
(c)    A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the Company, with each securities exchange upon which any Securities are listed (if so listed) and also with the Securities and Exchange Commission.  The Company agrees to notify the Trustee when any Securities become listed on any securities exchange.
ARTICLE 6 
REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF 
DEFAULT
Section 6.01    Events of Default.
(a)    Whenever used herein with respect to Securities of a particular series, “Event of Default” means any one or more of the following events that has occurred and is continuing:
(i)    the Company defaults in the payment of any installment of interest upon any of the Securities of that series, as and when the same shall become due and payable, and such default 

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continues for a period of 90 days; provided, however, that a valid extension of an interest payment period by the Company in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of interest for this purpose;
(ii)    the Company defaults in the payment of the principal of (or premium, if any, on) any of the Securities of that series as and when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment required by any sinking or analogous fund established with respect to that series; provided, however, that a valid extension of the maturity of such Securities in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of principal or premium, if any;
(iii)    the Company fails to observe or perform any other of its covenants or agreements with respect to that series contained in this Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof (other than a covenant or agreement that has been expressly included in this Indenture solely for the benefit of one or more series of Securities other than such series) for a period of 90 days after the date on which written notice of such failure, requiring the same to be remedied and stating that such notice is a “Notice of Default” hereunder, shall have been given to the Company by the Trustee, by registered or certified mail, or to the Company and the Trustee by the holders of at least 25% in principal amount of the Securities of that series at the time Outstanding;
(iv)    the Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to the entry of an order for relief against it in an involuntary case, (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)    a court of competent jurisdiction enters an order under any Bankruptcy Law that (i) is for relief against the Company in an involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property or (iii) orders the liquidation of the Company, and the order or decree remains unstayed and in effect for 90 days.
(b)    In each and every such case (other than an Event of Default specified in clause (4) or clause (5) above), unless the principal of all the Securities of that series shall have already become due and payable, either the Trustee or the holders of not less than 25% in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by such Securityholders), may declare the principal of (and premium, if any, on) and accrued and unpaid interest on all the Securities of that series to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable.  If an Event of Default specified in clause (4) or clause (5) above occurs, the principal of and accrued and unpaid interest on all the Securities of that series shall automatically be immediately due and payable without any declaration or other act on the part of the Trustee or the holders of the Securities.
(c)    At any time after the principal of (and premium, if any, on) and accrued and unpaid interest on the Securities of that series shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the 

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holders of a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:  (i) the Company has paid or deposited with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of that series and the principal of (and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any, and, to the extent that such payment is enforceable under applicable law, upon overdue installments of interest, at the rate per annum expressed in the Securities of that series to the date of such payment or deposit) and the amount payable to the Trustee under Section 7.06, and (ii) any and all Events of Default under the Indenture with respect to such series, other than the nonpayment of principal on (and premium, if any, on) and accrued and unpaid interest on Securities of that series that shall not have become due by their terms, shall have been remedied or waived as provided in Section 6.06.
No such rescission and annulment shall extend to or shall affect any subsequent default or impair any right consequent thereon.
(d)    In case the Trustee shall have proceeded to enforce any right with respect to Securities of that series under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case, subject to any determination in such proceedings, the Company and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall continue as though no such proceedings had been taken.
Section 6.02    Collection of Indebtedness and Suits for Enforcement by Trustee.
(a)    The Company covenants that (i) in case it shall default in the payment of any installment of interest on any of the Securities of a series, or in any payment required by any sinking or analogous fund established with respect to that series as and when the same shall have become due and payable, and such default shall have continued for a period of 90 days, or (ii) in case it shall default in the payment of the principal of (or premium, if any, on) any of the Securities of a series when the same shall have become due and payable, whether upon maturity of the Securities of a series or upon redemption or upon declaration or otherwise then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall have been become due and payable on all such Securities for principal (and premium, if any) or interest, or both, as the case may be, with interest upon the overdue principal (and premium, if any) and (to the extent that payment of such interest is enforceable under applicable law) upon overdue installments of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, and the amount payable to the Trustee under Section 7.06.
(b)    If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any 

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such action or proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law or equity out of the property of the Company or other obligor upon the Securities of that series, wherever situated.
(c)    In case of any receivership, insolvency, liquidation, bankruptcy, reorganization, readjustment, arrangement, composition or judicial proceedings affecting the Company, or its creditors or property, the Trustee shall have power to intervene in such proceedings and take any action therein that may be permitted by the court and shall (except as may be otherwise provided by law) be entitled to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee and of the holders of Securities of such series allowed for the entire amount due and payable by the Company under the Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by the Company after such date, and to collect and receive any moneys or other property payable or deliverable on any such claim, and to distribute the same after the deduction of the amount payable to the Trustee under Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the holders of Securities of such series to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to such Securityholders, to pay to the Trustee any amount due it under Section 7.06.
(d)    All rights of action and of asserting claims under this Indenture, or under any of the terms established with respect to Securities of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial or other proceeding relative thereto, and any such suit or 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 payment to the Trustee of any amounts due under Section 7.06, be for the ratable benefit of the holders of the Securities of such series.
In case of an Event of Default hereunder, the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in the Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.
Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding.
Section 6.03    Application of Moneys Collected.
Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation 

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of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:
FIRST:  To the payment of reasonable costs and expenses of collection and of all amounts payable to the Trustee under Section 7.06;
SECOND:  To the payment of the amounts then due and unpaid upon Securities of such series for principal (and premium, if any) and interest, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal (and premium, if any) and interest, respectively; and
THIRD:  To the payment of the remainder, if any, to the Company, its successors or assigns, or any other Person lawfully entitled thereto.
Section 6.04    Limitation on Suits.
No holder of any Security of any series shall have any right by virtue or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (i) such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders of not less than 25% in aggregate principal amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder; (iii) such holder or holders shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby; (iv) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity, shall have failed to institute any such action, suit or proceeding; and (v) during such 60 day period, the holders of a majority in principal amount of the Securities of that series do not give the Trustee a direction inconsistent with the request.
Notwithstanding anything contained herein to the contrary or any other provisions of this Indenture, the right of any holder of any Security to receive payment of the principal of (and premium, if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the case of redemption, on the redemption date), or to institute suit for the enforcement of any such payment on or after such respective dates or redemption date, shall not be impaired or affected without the consent of such holder and by accepting a Security hereunder it is expressly understood, intended and covenanted by the taker and holder of every Security of such series with every other such taker and holder and the Trustee, that no one or more holders of Securities of such series shall have any right in any manner whatsoever by virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all holders of Securities of such series.  For the protection and enforcement of the provisions of this Section, 

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each and every Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in equity.
Section 6.05    Rights and Remedies Cumulative; Delay or Omission Not Waiver.
(a)    Except as otherwise provided in Section 2.07, all powers and remedies given by this Article to the Trustee or to the Securityholders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the holders of the Securities, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture or otherwise established with respect to such Securities.
(b)    No delay or omission of the Trustee or of any holder of any of the Securities to exercise any right or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default or an acquiescence therein; and, subject to the provisions of Section 6.04, every power and remedy given by this Article or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders.
Section 6.06    Control by Securityholders.
The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding, determined in accordance with Section 8.04, 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 such series; provided, however, that such direction shall not be in conflict with any rule of law or with this Indenture.  Subject to the provisions of Section 7.01, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or officers of the Trustee, determine that the proceeding so directed, subject to the Trustee’s duties under the Trust Indenture Act, would involve the Trustee in personal liability or might be unduly prejudicial to the Securityholders not involved in the proceeding.  The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding affected thereby, determined in accordance with Section 8.04, may on behalf of the holders of all of the Securities of such series waive any past default in the performance of any of the covenants contained herein or established pursuant to Section 2.01 with respect to such series and its consequences, except a default in the payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as and when the same shall become due by the terms of such Securities otherwise than by acceleration (unless such default has been cured and a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with the Trustee (in accordance with Section 6.01(c))).  Upon any such waiver, the default covered thereby shall be deemed to be cured for all purposes of this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.
Section 6.07    Undertaking to Pay Costs.

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All parties to this Indenture agree, and each holder of any Securities by such holder’s 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 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 Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding more than 10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Security of such series, on or after the respective due dates expressed in such Security or established pursuant to this Indenture.
ARTICLE 7 
CONCERNING THE TRUSTEE
Section 7.01    Certain Duties and Responsibilities of Trustee.
(a)    The Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing of all Events of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with respect to the Securities of such series such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants shall be read into this Indenture against the Trustee.  In case an Event of Default with respect to the Securities of a series has occurred (that has not been cured or waived), the Trustee shall exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs.
(b)    No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that:
(i)    prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing or waiving of all such Events of Default with respect to that series that may have occurred:
(A)        the duties and obligations of the Trustee shall with respect to the Securities of such series be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and
(B)        in the absence of bad faith on the part of the Trustee, the Trustee may with respect to the Securities of such series conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee 

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and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture;
(ii)    the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible Officers of the Trustee, 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 or omitted to be taken by it in good faith in accordance with the direction of the holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding 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 that series; and
(iv)    None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers if there is reasonable ground for believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this Indenture or adequate indemnity against such risk is not reasonably assured to it.
Section 7.02    Certain Rights of Trustee.
Except as otherwise provided in Section 7.01:
(a)    The Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties;
(b)    Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Board Resolution or an instrument signed in the name of the Company by any authorized officer of the Company (unless other evidence in respect thereof is specifically prescribed herein);
(c)    The Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon;
(d)    The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that may be incurred therein or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of Default with respect to a series of the Securities (that has not been cured or waived), to exercise with 

27

respect to Securities of that series such of the rights and powers vested in it by this Indenture, and to use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs;
(e)    The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture;
(f)    The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents, unless requested in writing so to do by the holders of not less than a majority in principal amount of the Outstanding Securities of the particular series affected thereby (determined as provided in Section 8.04); provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity against such costs, expenses or liabilities as a condition to so proceeding.  The reasonable expense of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand; and
(g)    The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder.
In addition, the Trustee shall not be deemed to have knowledge of any Default or Event of Default except (1) any Event of Default occurring pursuant to Sections 6.01(a)(1) and 6.01(a)(2) or (2) any Default or Event of Default of which the Trustee shall have received written notification in the manner set forth in this Indenture or a Responsible Officer of the Trustee shall have obtained actual knowledge.  Delivery of reports, information and documents to the Trustee under Section 5.03 is for informational purposes only and the information and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained therein, or determinable from information contained therein including the Company’s compliance with any of their covenants thereunder (as to which the Trustee is entitled to rely exclusively on an Officers’ Certificate).
Section 7.03    Trustee Not Responsible for Recitals or Issuance or Securities.
(a)    The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same.
(b)    The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities.
(c)    The Trustee shall not be accountable for the use or application by the Company of any of the Securities or of the proceeds of such Securities, or for the use or application of any moneys paid over 

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by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.01, or for the use or application of any moneys received by any paying agent other than the Trustee.
Section 7.04    May Hold Securities.
The Trustee or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, paying agent or Security Registrar.
Section 7.05    Moneys Held in Trust.
Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law.  The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as it may agree with the Company to pay thereon.
Section 7.06    Compensation and Reimbursement.
(a)    The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such reasonable compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as the Company and the Trustee may from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided herein, the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all Persons not regularly in its employ), except any such expense, disbursement or advance as may arise from its negligence or bad faith and except as the Company and Trustee may from time to time agree in writing.  The Company also covenants to indemnify the Trustee (and its officers, agents, directors and employees) for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on the part of the Trustee and arising out of or in connection with the acceptance or administration of this trust, including the reasonable costs and expenses of defending itself against any claim of liability in the premises.
(b)    The obligations of the Company under this Section to compensate and indemnify the Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements and advances shall constitute additional indebtedness hereunder.  Such additional indebtedness shall be secured by a lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the holders of particular Securities.
Section 7.07    Reliance on Officers’ Certificate.
Except as otherwise provided in Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it reasonably necessary or desirable that a matter be proved or 

29

established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof.
Section 7.08    Disqualification; Conflicting Interests.
If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and the Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act.
Section 7.09    Corporate Trustee Required; Eligibility.
There shall at all times be a Trustee with respect to the Securities issued hereunder which shall at all times be a corporation organized and doing business under the laws of the United States of America or any state or territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by the Securities and Exchange Commission, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least fifty million U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state, territorial, or District of Columbia authority.
If such corporation or other Person publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation or other Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.  The Company may not, nor may any Person directly or indirectly controlling, controlled by, or under common control with the Company, serve as Trustee.  In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 7.10.
Section 7.10    Resignation and Removal; Appointment of Successor.
(a)    The Trustee or any successor hereafter appointed may at any time resign with respect to the Securities of one or more series by giving written notice thereof to the Company and by transmitting notice of resignation by mail, first class postage prepaid, to the Securityholders of such series, as their names and addresses appear upon the Security Register.  Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee with respect to Securities of such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee.  If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee with respect to Securities of such series, or any Securityholder of that series who has 

30

been a bona fide holder of a Security or Securities for at least six months may on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee.  Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(b)    In case at any time any one of the following shall occur:
(i)    the Trustee shall fail to comply with the provisions of Section 7.08 after written request therefor by the Company or by any Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or
(ii)    the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 and shall fail to resign after written request therefor by the Company or by any such Securityholder; or
(iii)    the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation;
then, in any such case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Securityholder who has been a bona fide holder of a Security or Securities for at least six months may, on behalf of that holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee.  Such court may thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c)    The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding may at any time remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a successor Trustee for such series with the consent of the Company.
(d)    Any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities of a series pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11.
(e)    Any successor trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Section 7.11    Acceptance of Appointment By Successor.
(a)    In case of the appointment hereunder of a successor trustee with respect to all Securities, every such successor trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal 

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of the retiring Trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor trustee all property and money held by such retiring Trustee hereunder.
(b)    In case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor trustee shall accept such appointment and which (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates, (ii) shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (iii) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible for any act or failure to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor trustee relates have no further responsibility for the exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor trustee relates.
(c)    Upon request of any such successor trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be.
(d)    No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified and eligible under this Article.
Section 7.12    Merger, Conversion, Consolidation or Succession to Business.

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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 the corporate trust business of the Trustee, including the administration of the trust created by this Indenture, shall be the successor of the Trustee hereunder, provided that such corporation shall be qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding.  In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities.
Section 7.13    Preferential Collection of Claims Against the Company.
The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act.  A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein.
Section 7.14    Notice of Default.
If any Default or any Event of Default occurs and is continuing and if such Default or Event of Default is known to a Responsible Officer of the Trustee, the Trustee shall mail to each Securityholder in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act notice of the Default or Event of Default within 45 days after it occurs, unless such Default or Event of Default has been cured; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on any Security, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interest of the Securityholders.
ARTICLE 8 
CONCERNING THE SECURITYHOLDERS
Section 8.01    Evidence of Action by Securityholders.
Whenever in this Indenture it is provided that the holders of a majority or specified percentage in aggregate principal amount of the Securities of a particular series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action the holders of such majority or specified percentage of that series have joined therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in person or by agent or proxy appointed in writing.

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If the Company shall solicit from the Securityholders of any series any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option, as evidenced by an Officers’ Certificate, fix in advance a record date for such series for the determination of Securityholders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so.  If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may be given before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date.
Section 8.02    Proof of Execution by Securityholders.
Subject to the provisions of Section 7.01, proof of the execution of any instrument by a Securityholder (such proof will not require notarization) or his agent or proxy and proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner:
(a)    The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to the Trustee.
(b)    The ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security Registrar thereof.
The Trustee may require such additional proof of any matter referred to in this Section as it shall deem necessary.
Section 8.03    Who May be Deemed Owners.
Prior to the due presentment for registration of transfer of any Security, the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name such Security shall be registered upon the books of the Company as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal of (and premium, if any) and (subject to Section 2.03) interest on such Security and for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any notice to the contrary.
Section 8.04    Certain Securities Owned by Company Disregarded.
In determining whether the holders of the requisite aggregate principal amount of Securities of a particular series have concurred in any direction, consent or waiver under this Indenture, the Securities of 

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that series that are owned by the Company or any other obligor on the Securities of that series or by any Person directly or indirectly controlling or controlled by or under common control with the Company or any other obligor on the Securities of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities of such series that the Trustee actually knows are so owned shall be so disregarded.  The Securities so owned that have been pledged in good faith may be regarded as Outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not a Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any such other obligor.  In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee.
Section 8.05    Actions Binding on Future Securityholders.
At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of that series that is shown by the evidence to be included in the Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Security.  Except as aforesaid any such action taken by the holder of any Security shall be conclusive and binding upon such holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security.  Any action taken by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities of that series.
ARTICLE 9 
SUPPLEMENTAL INDENTURES
Section 9.01    Supplemental Indentures Without the Consent of Securityholders.
In addition to any supplemental indenture otherwise authorized by this Indenture, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders, for one or more of the following purposes:
(a)    to cure any ambiguity, defect, or inconsistency herein or in the Securities of any series;
(b)    to comply with Article Ten;
(c)    to provide for uncertificated Securities in addition to or in place of certificated Securities;

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(d)    to add to the covenants, restrictions, conditions or provisions relating to the Company for the benefit of the holders of all or any series of Securities (and if such covenants, restrictions, conditions or provisions are to be for the benefit of less than all series of Securities, stating that such covenants, restrictions, conditions or provisions are expressly being included solely for the benefit of such series), to make the occurrence, or the occurrence and the continuance, of a default in any such additional covenants, restrictions, conditions or provisions an Event of Default, or to surrender any right or power herein conferred upon the Company;
(e)    to add to, delete from, or revise the conditions, limitations, and restrictions on the authorized amount, terms, or purposes of issue, authentication, and delivery of Securities, as herein set forth;
(f)    to make any change that does not adversely affect the rights of any Securityholder in any material respect; provided that any amendment made solely to conform the provisions of this Indenture to the corresponding description of the Securities contained in the applicable prospectus or prospectus supplement shall be deemed to not adversely affect the interests of the Securityholders; provided further that, any amendment made pursuant to this Section 9.01(f), the Company shall provide the Trustee with an Officers’ Certificate certifying that such amendment will not adversely affect the right or interests of Securityholders;
(g)    to provide for the issuance of and establish the form and terms and conditions of the Securities of any series as provided in Section 2.01, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to the rights of the holders of any series of Securities;
(h)    to evidence and provide for the acceptance of appointment hereunder by a successor trustee; or
(i)    to comply with any requirements of the Securities and Exchange Commission or any successor in connection with the qualification of this Indenture under the Trust Indenture Act.
The Trustee is hereby authorized to join with the Company in the execution of any such supplemental indenture, and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise.
Any supplemental indenture authorized by the provisions of this Section may be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 9.02.
Section 9.02    Supplemental Indentures With Consent of Securityholders.
With the consent (evidenced as provided in Section 8.01) of the holders of not less than a majority in aggregate principal amount of the Securities of each series affected by such supplemental indenture or indentures at the time Outstanding, the Company, when authorized by a Board Resolution, and the Trustee 

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may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect) 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 not covered by Section 9.01 the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the holders of each Security then Outstanding and affected thereby,
(i)    extend the fixed maturity of any Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any premium payable upon redemption thereof;
(ii)    reduce the aforesaid percentage of Securities, the holders of which are required to consent to any such supplemental indenture;
(iii)    change any obligation to pay additional amounts;
(iv)    reduce the amount of principal of an original issue discount security or any other Security payable upon acceleration of the maturity thereof;
(v)    change currency in which any Security or any premium or interest is payable;
(vi)    impair the right to enforce any payment on or with respect to any Security;
(vii)    adversely change the right to convert or exchange, including decreasing the conversion rate or increasing the conversion price of, such Security (if applicable);
(viii)    if the Securities are secured, change the terms and conditions pursuant to which the Securities are secured in a manner adverse to the holders of the Securities;
(ix)    reduce the percentage in principal amount of outstanding Securities of any series, the consent of whose holders is required for modification or amendment of the indenture or for waiver of compliance with certain provisions of the indenture or for waiver of certain defaults;
(x)    reduce the requirements contained in the indenture for quorum or voting;
(xi)    change any obligations of the Company to maintain an office or agency in the places and for the purposes required by the indentures; or
(xii)    modify any of the above provisions.
It shall not be necessary for the consent of the Securityholders of any series affected thereby under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof.
Section 9.03    Effect of Supplemental Indentures.

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Upon the execution of any supplemental indenture pursuant to the provisions of this Article or of Section 10.01, this Indenture shall, with respect to such series, be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.
Section 9.04    Securities Affected by Supplemental Indentures.
Securities of any series affected by a supplemental indenture, authenticated and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article or of Section 10.01, may bear a notation in form approved by the Company, provided such form meets the requirements of any securities exchange upon which such series may be listed, as to any matter provided for in such supplemental indenture.  If the Company shall so determine, new Securities of that series so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered in exchange for the Securities of that series then Outstanding.
Section 9.05    Execution of Supplemental Indentures.
Upon the request of the Company, accompanied by its Board Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such supplemental indenture.  The Trustee, subject to the provisions of Section 7.01, may receive an Officers’ Certificate or an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by, and conforms to, the terms of this Article and that it is proper for the Trustee under the provisions of this Article to join in the execution thereof; provided, however, that such Officers’ Certificate or Opinion of Counsel need not be provided in connection with the execution of a supplemental indenture that establishes the terms of a series of Securities pursuant to Section 2.01 hereof.
Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Trustee shall transmit by mail, first class postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all series affected thereby as their names and addresses appear upon the Security Register.  Any failure of the Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture.
ARTICLE 10 
SUCCESSOR ENTITY

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Section 10.01    Company May Consolidate, Etc.
Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or more indentures supplemental to this Indenture, nothing contained in this Indenture shall prevent any consolidation or merger of the Company with or into any other Person (whether or not affiliated with the Company) or successive consolidations or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the property of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other corporation (whether or not affiliated with the Company or its successor or successors) authorized to acquire and operate the same; provided, however, (a) the Company hereby covenants and agrees that, upon any such consolidation or merger (in each case, if the Company is not the survivor of such transaction), sale, conveyance, transfer or other disposition, the due and punctual payment of the principal of (and premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according to their tenor, and the due and punctual performance and observance of all the covenants and conditions of this Indenture with respect to each series or established with respect to such series pursuant to Section 2.01 to be kept or performed by the Company shall be expressly assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect) reasonably satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall have been merged, or by the entity which shall have acquired such property and (b) in the event that the Securities of any series then Outstanding are convertible into or exchangeable for shares of common stock or other securities of the Company, such entity shall, by such supplemental indenture, make provision so that the Securityholders of Securities of that series shall thereafter be entitled to receive upon conversion or exchange of such Securities the number of securities or property to which a holder of the number of shares of common stock or other securities of the Company deliverable upon conversion or exchange of those Securities would have been entitled had such conversion or exchange occurred immediately prior to such consolidation, merger, sale, conveyance, transfer or other disposition.
Section 10.02    Successor Entity Substituted.
(a)    In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor entity by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the obligations set forth under Section 10.01 on all of the Securities of all series Outstanding, such successor entity shall succeed to and be substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon the predecessor corporation shall be relieved of all obligations and covenants under this Indenture and the Securities.
(b)    In case of any such consolidation, merger, sale, conveyance, transfer or other disposition, such changes in phraseology and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate.
(c)    Nothing contained in this Article shall require any action by the Company in the case of a consolidation or merger of any Person into the Company where the Company is the survivor of such 

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transaction, or the acquisition by the Company, by purchase or otherwise, of all or any part of the property of any other Person (whether or not affiliated with the Company).
Section 10.03    Evidence of Consolidation, Etc. to Trustee.
The Trustee, subject to the provisions of Section 7.01, may receive an Officers’ Certificate or an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale, conveyance, transfer or other disposition, and any such assumption, comply with the provisions of this Article.
ARTICLE 11 
SATISFACTION AND DISCHARGE
Section 11.01    Satisfaction and Discharge of Indenture.
If at any time:  (a) the Company shall have delivered to the Trustee for cancellation all Securities of a series theretofore authenticated and not delivered to the Trustee for cancellation (other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07 and Securities for whose payment money or Governmental Obligations have theretofore been deposited in trust or segregated and held in trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all such Securities of a particular series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder with respect to such series by the Company then this Indenture shall thereupon cease to be of further effect with respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10, that shall survive until the date of maturity or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series.
Section 11.02    Discharge of Obligations.
If at any time all such Securities of a particular series not heretofore delivered to the Trustee for cancellation or that have not become due and payable as described in Section 11.01 shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations sufficient to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) 

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and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the obligations of the Company under this Indenture with respect to such series shall cease to be of further effect except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4,03, 7.06, 7.10 and 11.05 hereof that shall survive until such Securities shall mature and be paid.
Thereafter, Sections 7.06 and 11.05 shall survive.
Section 11.03    Deposited Moneys to be Held in Trust.
All moneys or Governmental Obligations deposited with the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be available for payment as due, either directly or through any paying agent (including the Company acting as its own paying agent), to the holders of the particular series of Securities for the payment or redemption of which such moneys or Governmental Obligations have been deposited with the Trustee.
Section 11.04    Payment of Moneys Held by Paying Agents.
In connection with the satisfaction and discharge of this Indenture all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture shall, upon demand of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys or Governmental Obligations.
Section 11.05    Repayment to Company.
Any moneys or Governmental Obligations deposited with any paying agent or the Trustee, or then held by the Company, in trust for payment of principal of or premium, if any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least two years after the date upon which the principal of (and premium, if any) or interest on such Securities shall have respectively become due and payable, or such other shorter period set forth in applicable escheat or abandoned or unclaimed property law, shall be repaid to the Company on May 31 of each year or upon the Company’s request or (if then held by the Company) shall be discharged from such trust; and thereupon the paying agent and the Trustee shall be released from all further liability with respect to such moneys or Governmental Obligations, and the holder of any of the Securities entitled to receive such payment shall thereafter, as a general creditor, look only to the Company for the payment thereof.
ARTICLE 12 
IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND 
DIRECTORS
Section 12.01    No Recourse.

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No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issuance of such Securities.
ARTICLE 13 
MISCELLANEOUS PROVISIONS
Section 13.01    Effect on Successors and Assigns.
All the covenants, stipulations, promises and agreements in this Indenture made by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not.
Section 13.02    Actions by Successor.
Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or officer of the Company shall and may be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor of the Company.
Section 13.03    Surrender of Company Powers.
The Company by instrument in writing executed by authority of 2/3 (two-thirds) its Board of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon such power so surrendered shall terminate both as to the Company and as to any successor corporation.
Section 13.04    Notices.
Except as otherwise expressly provided herein, any notice, request or demand that by any provision of this Indenture is required or permitted to be given, made or served by the Trustee or by the holders of Securities or by any other Person pursuant to this Indenture to or on the Company may be given 

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or served by being deposited in first class mail, postage prepaid, addressed (until another address is filed in writing by the Company with the Trustee), as follows:  Spectrum Pharmaceuticals, Inc., 11500 South Eastern Avenue, Suite 240, Henderson, Nevada 89052, Attn:  Chief Financial Officer.  Any notice, election, request or demand by the Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the Trustee.
Section 13.05    Governing Law.
This Indenture and each Security shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State, except to the extent that the Trust Indenture Act is applicable.
Section 13.06    Treatment of Securities as Debt.
It is intended that the Securities will be treated as indebtedness and not as equity for federal income tax purposes.  The provisions of this Indenture shall be interpreted to further this intention.
Section 13.07    Certificates and Opinions as to Conditions Precedent.
(a)    Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent provided for in this Indenture (other than the certificate to be delivered pursuant to Section 13.12) relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate or opinion need be furnished.
(b)    Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant in this Indenture shall include (i) a statement that the Person making such certificate or opinion has read such covenant or condition; (ii) 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; (iii) a statement that, in the opinion of such Person, he has made such examination or investigation as is reasonably necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with.
Section 13.08    Payments on Business Days.
Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or more indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of interest or principal (and premium, if any) may be 

43

made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.
Section 13.09    Conflict with Trust Indenture Act.
If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall control.
Section 13.10    Counterparts.
This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument.
Section 13.11    Separability.
In case any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein.
Section 13.12    Compliance Certificates.
The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year during which any Securities of any series were outstanding, an officer’s certificate stating whether or not the signers know of any Default or Event of Default that occurred during such fiscal year.  Such certificate shall contain a certification from the principal executive officer, principal financial officer or principal accounting officer of the Company that a review has been conducted of the activities of the Company and the Company’s performance under this Indenture and that the Company has complied with all conditions and covenants under this Indenture.  For purposes of this Section 13.12, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture.  If the officer of the Company signing such certificate has knowledge of such a Default or Event of Default, the certificate shall describe any such Default or Event of Default and its status.

44

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

	Name:
	 

	Title:
	 

[TRUSTEE], as Trustee	
		
	By:
	 

	Name:
	 

	Title:
	 

[SIGNATURE PAGE TO SUBORDINATED DEBT SECURITIES]

45

CROSS-REFERENCE TABLE(1)
	
		
	Section of Trust Indenture 
Act of 1939, as Amended
	Section of Indenture

	310(a)
	7.09

	310(b)
	7.08

	 
	7.10

	310(c)
	Inapplicable

	311(a)
	7.13

	311(b)
	7.13

	311(c)
	Inapplicable

	312(a)
	5.01

	 
	5.02(a)

	312(b)
	5.02(b)

	312(c)
	5.02(b)

	313(a)
	5.04(a)

	313(b)
	5.04(b)

	313(c)
	5.04(a)

	 
	5.04(b)

	313(d)
	5.04(c)

	314(a)
	5.03

	 
	13.12

	314(b)
	Inapplicable

	314(c)
	13.07(a)

	314(d)
	Inapplicable

	314(e)
	13.07(b)

	314(f)
	Inapplicable

	315(a)
	7.01(a)

	 
	7.01(b)

	315(b)
	7.14

	315(c)
	7.01

	315(d)
	7.01(b)

	315(e)
	6.07

	316(a)
	6.06

	 
	8.04

	316(b)
	6.04

	316(c)
	8.01

	317(a)
	6.02

	317(b)
	4.03

	318(a)
	13.09

	 
	 

		
	(1)
	This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 

FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT 

This FIRST AMENDMENT (this “Amendment”), dated as of April 1, 2019, is among TXU ENERGY RETAIL COMPANY LLC, a
Texas limited liability company (“TXU”), as Originator (in such capacity, together with its successors and permitted assigns in such capacity, the “Servicer”), TXU ENERGY RECEIVABLES COMPANY LLC, a
Delaware limited liability company, as buyer (the “Company”), Dynegy Energy Services, LLC, as an Originator, Dynegy Energy Services (East), LLC, as an Originator, and as agreed to and acknowledged by CREDIT AGRICOLE CORPORATE
AND INVESTMENT BANK, a national banking association (“CACIB”), as Administrator (in such capacity, together with its successors and permitted assigns in such capacity, the “Administrator”). Capitalized
terms used but not otherwise defined herein have the respective meanings assigned thereto in the Agreement (as defined below). 
 R
E C I T A L S 
 WHEREAS, TXU, as Originator and the Company are parties to that
certain Purchase and Sale Agreement, dated as of August 21, 2018 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Agreement”). 

WHEREAS, concurrently herewith, the Company, the Servicer, the Performance Guarantor, the Purchasers and Purchaser Agents party thereto
and the Administrator are entering into that certain Amendment No. 1 to the Receivables Purchase Agreement, dated as of the date hereof (the “RPA Amendment”). 

WHEREAS, concurrently herewith and pursuant to those certain Joinder Agreements, dated as of the date hereof, Dynegy Energy Services,
LLC and Dynegy Energy Services (East), LLC are becoming a party to the Sale Agreement, each as an additional Originator thereunder (the “Dynegy Joinders” together with the RPA Amendment, collectively, the “Related
Agreements”). 
 WHEREAS, the parties hereto desire to amend the Agreement as hereinafter set forth. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows: 
 A G R E E M E N T 

SECTION 1. Amendments to the Agreement. The Agreement is hereby amended as reflected on Exhibit A attached hereto with
the text marked in underline indicating additions to such Agreement and
with the text marked in strikethrough indicating deletions to such Agreement. 

SECTION 2. Conditions to Effectiveness. 

This Amendment shall become effective as of the date hereof, provided that neither the Facility Termination Date nor a Termination Event or
Unmatured Termination Event has occurred and subject to (i) the payment of all fees, costs and expenses due and payable to each Purchaser 

 Agent under the Fee Letter and (ii) the condition precedent that the Administrator shall have received
each of the following, each duly executed and dated as of the date hereof (or such other date satisfactory to the Administrator), in form and substance satisfactory to the Administrator: 

(a) counterparts of this Amendment (whether by facsimile or otherwise) executed by each of the parties hereto; 

(b) counterparts of each of the Related Agreements (whether by facsimile or otherwise) executed by each of the respective
parties thereto; 
 (c) such other documents, agreements, certificates, opinions and instruments as the Administrator may
reasonably request prior to delivery by Administrator of an executed counterpart of this Amendment. 
 SECTION 3. Representations
and Warranties. 
 Each of the Seller and the Servicer, as applicable, hereby represents and warrants to each Purchaser, each Purchaser
Agent and the Administrator as follows: 
 (a) Representations and Warranties. The representations and warranties
contained in Article V of the Agreement are true and correct as of the date hereof (unless stated to relate solely to an earlier date, in which case such representations or warranties were true and correct as of such earlier date). 

(b) Enforceability. The execution and delivery by each of the Seller and the Servicer of this Amendment, and the
performance of each of its obligations under this Amendment and the Agreement, as amended hereby, are within each of its organizational powers and have been duly authorized by all necessary action on each of its parts. This Amendment and the
Agreement, as amended hereby, are each of the Seller’s and the Servicer’s valid and legally binding obligations, enforceable in accordance with its terms. 

(c) No Default. Immediately after giving effect to this Amendment, the Related Agreements and the transactions
contemplated hereby and thereby, no Termination Event or Unmatured Termination Event exists or shall exist and the Purchased Interest shall not exceed 100%. 

SECTION 4. Effect of Amendment; Ratification. Except as specifically amended hereby, the Agreement is hereby ratified and
confirmed in all respects, and all of its provisions shall remain in full force and effect. After this Amendment becomes effective, all references in the Agreement (or in any other Transaction Document) to “the Purchase and Sale
Agreement”, “this Agreement”, “hereof”, “herein”, or words of similar effect, in each case referring to the Agreement, shall be deemed to be references to the Agreement as amended hereby. This Amendment shall not
be deemed to expressly or impliedly waive, amend, or supplement any provision of the Agreement other than as specifically set forth herein. 

SECTION 5. Counterparts. This Amendment may be executed in any number of counterparts (including in PDF or similar electronic
format by facsimile or e-mail transmission), each of which, when so executed, shall be deemed to be an original, and all of which, when taken together, shall constitute one and the same agreement. 

  
 -2- 

 SECTION 6. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CONFLICTS OF LAW PROVISIONS (OTHER THAN §5-1401 AND §5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL APPLY HERETO). 

SECTION 7. Section Headings. The various headings of this Amendment are inserted for convenience only and shall not affect the
meaning or interpretation of this Amendment or the Agreement or any provision hereof or thereof. 
 SECTION 8. Successors and
Assigns. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. 

SECTION 9. Severability. If any one or more of the agreements, provisions or terms of this Amendment shall for any reason
whatsoever be held invalid or unenforceable, then such agreements, provisions or terms shall be deemed severable from the remaining agreements, provisions and terms of this Amendment and shall in no way affect the validity or enforceability of the
provisions of this Amendment or the Agreement. 
 [SIGNATURE PAGES FOLLOW] 

  
 -3- 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above. 

 

			
	TXU ENERGY RETAIL COMPANY LLC, as an Originator
		
	By:	 	 /s/ Kristopher E. Moldovan

	Name:	 	Kristopher E. Moldovan
	Title:	 	Senior Vice President and Treasurer
	
	TXU ENERGY RECEIVABLES COMPANY LLC
		
	By:	 	 /s/ Kristopher E. Moldovan

	Name:	 	Kristopher E. Moldovan
	Title:	 	Senior Vice President and Treasurer
	
	DYNEGY ENERGY SERVICES, LLC
		
	By:	 	 /s/ Kristopher E. Moldovan

	Name:	 	Kristopher E. Moldovan
	Title:	 	Senior Vice President and Treasurer
	
	DYNEGY ENERGY SERVICES (EAST), LLC
		
	By:	 	 /s/ Kristopher E. Moldovan

	Name:	 	Kristopher E. Moldovan
	Title:	 	Senior Vice President and Treasurer

 Signature Page to 

Amendment to Purchase and Sale Agreement 

			
	 ACKNOWLEDGED AND AGREED:
  

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Administrator

		
	By:	 	 /s/ Sam Pilcer

	Name:	 	Sam Pilcer
	Title:	 	Managing Director
		
	By:	 	 /s/ Leo Burrell

	Name:	 	Leo Burrell
	Title:	 	Managing Director

 EXHIBIT A 

 EXECUTION
VERSIONCONFORMED COPY – NOT EXECUTED IN THIS FORM INCORPORATING AMENDMENT NO. 1, DATED AS OF APRIL 1,
2019 
  
  

 
 PURCHASE
AND SALE AGREEMENT 
 dated as of August 21, 2018 

among 
 THE
ORIGINATORS FROM TIME TO TIME PARTIES HERETO, 

as Originators 
 and 

TXU ENERGY RECEIVABLES COMPANY LLC 

 
  

 
  
  

 

  
  

 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	 ARTICLE I
	 	AGREEMENT TO PURCHASE AND SELL; CONTRIBUTIONS OF RECEIVABLES	  	 	4	 
			
	 Section 1.1
	 	 Agreement To Purchase and Sell; Contributions of Receivables
	  	 	4	 
			
	 Section 1.2
	 	 Timing of Purchases and Contributions
	  	 	5	 
			
	 Section 1.3
	 	 Consideration for Purchases
	  	 	5	 
			
	 Section 1.4
	 	 Purchase and Sale Termination Date
	  	 	5	 
			
	 Section 1.5
	 	 Intention of the Parties
	  	 	6	 
			
	 ARTICLE II
	 	CALCULATION OF PURCHASE PRICE	  	 	6	 
			
	 Section 2.1
	 	 Calculation of Purchase Price
	  	 	6	 
			
	 ARTICLE III
	 	PAYMENT OF PURCHASE PRICE; CONTRIBUTIONS OF RECEIVABLES	  	 	7	 
			
	 Section 3.1
	 	 Initial Purchase Price Payment; Initial Contribution of Receivables by TXU
	  	 	7	 
			
	 Section 3.2
	 	 Subsequent Purchase Price Payments; Subsequent Contributions of Receivables
	  	 	7	 
			
	 Section 3.3
	 	 Settlement as to Specific Receivables and Deemed Collections
	  	 	8	 
			
	 Section 3.4
	 	 Reconveyance of Receivables
	  	 	8	 
			
	 ARTICLE IV
	 	CONDITIONS TO EFFECTIVENESS AND PURCHASES	  	 	9	 
			
	 Section 4.1
	 	 Conditions Precedent to Effectiveness
	  	 	9	 
			
	 Section 4.2
	 	 Certification as to Representations and Warranties
	  	 	9	 
			
	 Section 4.3
	 	 Additional Originators
	  	 	9	 
			
	 ARTICLE V
	 	REPRESENTATIONS AND WARRANTIES OF THE ORIGINATORS	  	 	11	 
			
	 Section 5.1
	 	 Existence
	  	 	11	 
			
	 Section 5.2
	 	 Power; Non-Contravention
	  	 	11	 
			
	 Section 5.3
	 	 Governmental Authorization, Other Consents
	  	 	11	 
			
	 Section 5.4
	 	 Binding Effect
	  	 	11	 
			
	 Section 5.5
	 	 Accuracy of Information
	  	 	12	 
			
	 Section 5.6
	 	 Litigation
	  	 	12	 
			
	 Section 5.7
	 	 Unmatured Purchase and Sale Termination Event or Purchase and Sale Termination Event
	  	 	12	 
			
	 Section 5.8
	 	 Records
	  	 	12	 

  
 i 

 
  

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 Section 5.9
	 	 Credit and Collection Guidelines
	  	 	12	 
			
	 Section 5.10
	 	 Investment Company Act
	  	 	12	 
			
	 Section 5.11
	 	 Margin Regulations
	  	 	12	 
			
	 Section 5.12
	 	 Nature of Receivables
	  	 	12	 
			
	 Section 5.13
	 	 No Violation
	  	 	12	 
			
	 Section 5.14
	 	 No Fraudulent Transfer
	  	 	13	 
			
	 Section 5.15
	 	 Location
	  	 	13	 
			
	 Section 5.16
	 	 Ordinary Course of Business
	  	 	13	 
			
	 Section 5.17
	 	 Solvency
	  	 	13	 
			
	 Section 5.18
	 	 Names
	  	 	13	 
			
	 Section 5.19
	 	 Ownership; Perfection
	  	 	13	 
			
	 Section 5.20
	 	 Changes in Business
	  	 	13	 
			
	 Section 5.21
	 	 Anti-Corruption Laws; Anti-Money Laundering Laws; Sanctions
	  	 	14	 
			
	 Section 5.22
	 	 Beneficial Ownership Certification
	  	 	14	 
			
	 ARTICLE VI
	 	COVENANTS OF THE ORIGINATORS	  	 	14	 
			
	 Section 6.1
	 	 Covenants
	  	 	14	 
			
	 ARTICLE VII
	 	ADDITIONAL RIGHTS AND OBLIGATIONS IN RESPECT OF RECEIVABLES	  	 	20	 
			
	 Section 7.1
	 	 Rights of the Company
	  	 	20	 
			
	 Section 7.2
	 	 Responsibilities of the Originators
	  	 	20	 
			
	 Section 7.3
	 	 Further Action Evidencing Purchases
	  	 	21	 
			
	 Section 7.4
	 	 Application of Collections
	  	 	22	 
			
	 ARTICLE VIII
	 	PURCHASE AND SALE TERMINATION EVENTS	  	 	22	 
			
	 Section 8.1
	 	 Purchase and Sale Termination Events
	  	 	22	 
			
	 Section 8.2
	 	 Remedies
	  	 	22	 
			
	 ARTICLE IX
	 	INDEMNIFICATION	  	 	22	 
			
	 Section 9.1
	 	 Indemnities by the Originators
	  	 	22	 
			
	 ARTICLE X
	 	MISCELLANEOUS	  	 	24	 
			
	 Section 10.1
	 	 Amendments, etc.
	  	 	24	 
			
	 Section 10.2
	 	 Notices, etc
	  	 	25	 

  
 ii 

 
  

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 Section 10.3
	 	 No Waiver; Cumulative Remedies
	  	 	25	 
			
	 Section 10.4
	 	 Binding Effect; Assignability
	  	 	25	 
			
	 Section 10.5
	 	 Governing Law
	  	 	25	 
			
	 Section 10.6
	 	 Costs, Expenses and Taxes
	  	 	25	 
			
	 Section 10.7
	 	 SUBMISSION TO JURISDICTION
	  	 	25	 
			
	 Section 10.8
	 	 WAIVER OF JURY TRIAL
	  	 	26	 
			
	 Section 10.9
	 	 Captions and Cross References; Incorporation by Reference
	  	 	26	 
			
	 Section 10.10
	 	 Execution in Counterparts
	  	 	26	 
			
	 Section 10.11
	 	 Acknowledgment and Agreement
	  	 	26	 
			
	 Section 10.12
	 	 No Proceeding
	  	 	26	 
			
	 Section 10.13
	 	 Limited Recourse
	  	 	27	 
			
	 Section 10.14
	 	 Treatment as Sales; Tax Treatment
	  	 	27	 

  
 iii 

 
  

 SCHEDULES 

			
	Schedule I	  	List of Originators
	Schedule II	  	State of Organization of Originators
	Schedule III	  	Location of Books and Records of Originators
	Schedule IV	  	Prior Names
		
	EXHIBITS	  	
	Exhibit A	  	Form of Company Note
	Exhibit B	  	Form of Joinder Agreement

  
 iv 

 
  

 This PURCHASE AND SALE AGREEMENT
(as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), dated as of August 21, 2018 is entered into among THE ORIGINATORS (as defined below) FROM TIME TO TIME PARTIES HERETO, and TXU
ENERGY RECEIVABLES COMPANY LLC, a Delaware limited liability company (the “Company”). 
 BACKGROUND:

 1. The Company is a special purpose limited liability company, all of the issued and outstanding membership interests of which are
owned by TXU ENERGY RETAIL COMPANY LLC (“TXU”), an Originator; 
 2. The Originators generate Receivables in the ordinary
course of their business; 
 The Originators wish to sell Receivables to the Company, and the Company is willing to purchase Receivables
from the Originators, on the terms and subject to the conditions set forth herein; 
 3. TXU wishes to contribute Receivables to the
Company, and the Company is willing to accept the contribution of Receivables from TXU, on the terms and subject to the conditions set forth herein; 

4. Each Originator has determined that such sales and contributions to the Company are in the reasonable commercial and best interests of such
Originator and its creditors and that the transactions contemplated by this Agreement represent a practicable and reasonable course of action to improve the financial position of such Originator; and 

5. The Originators and the Company intend the transactions hereunder to be a true sale or absolute contribution, as applicable, of Receivables
by the Originators to the Company, providing the Company with the full benefits of ownership of the Receivables, and the Originators and the Company do not intend the transactions hereunder to be a loan from the Company to the Originators (other
than, if applicable, for income Tax purposes). 
 NOW THEREFORE, in consideration of the mutual agreements, provisions and covenants
contained herein and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

DEFINITIONS 
 Unless otherwise
indicated herein, capitalized terms used and not otherwise defined in this Agreement are defined in Exhibit I to the Receivables Purchase Agreement, dated as of the date hereof (as the same may be amended, restated, supplemented or otherwise
modified from time to time, the “Receivables Purchase Agreement”), among the Company, as Seller, TXU, individually and as Servicer (the “Servicer”), the Conduit Purchasers described therein, the Committed Purchasers
described therein, the Purchaser Agents described therein, Credit Agricole Corporate and Investment Bank, as Administrator, and Vistra Operations Company LLC, as Performance Guarantor. In addition, the following terms shall have the following
meanings: 

  
   

 
  

 “Adverse Claim” means a lien, security interest or other charge or
encumbrance, or any other type of preferential arrangement, other than rights of setoff and offset arrangements; it being understood that any thereof in favor of, or assigned to, (a) the Purchasers, the Purchaser Agents or the Administrator
(for the benefit of the Purchaser Groups) or (b) a depositary institution in respect of deposit accounts established with it, in each case, shall not constitute an Adverse Claim. 

“Agreement” has the meaning specified in the first paragraph hereof. 

“Article 9” has the meaning specified in Section 1.5 of this Agreement. 

“Closing Date” means (i) with respect to TXU, August 21, 2018 and (ii) with respect to any other Originator,
the day on which such Originator is added as an “Originator” hereunder pursuant to Section 4.3. 

“Collections” means, with respect to any Sold Receivable: (a) all funds that are received (whether in the form of cash,
wire transfer, check or otherwise) by an Originator, the Company or the Servicer in payment of any amounts owed in respect of such Receivable (including purchase price, finance charges, interest, Taxes, transmission charges (if any) and all other
charges), or applied to amounts owed in respect of such Receivable (including insurance payments and net proceeds of the sale or other disposition of repossessed goods or other collateral or property of the related Obligor or any other Person
directly or indirectly liable for the payment of such Receivable and available to be applied thereon), and (b) all Deemed Collections. 

“Company” has the meaning specified in the first paragraph of this Agreement. 

“Company Note” has the meaning specified in Section 3.1 of this Agreement. 

“Deemed Collections” means any Collections deemed received from the applicable Originator equal to on any day (i) the
portion of any Sold Receivable which is reduced or cancelled as a result of the events described in Section 1.4(e)(i) and (ii) of the Receivables Purchase Agreement and (ii) the aggregate Outstanding
Balance of all Receivables as to which any of the representations or warranties in Section 5.12, 5.14 or 5.19 of this Agreement is not true. 

“Excluded Retail
Receivable” means any Purchased-by-Utility Receivable. 
 “Joinder Agreement” has the meaning specified in clause
(a) of Section 4.3 of this Agreement. 
 “Originator” and
“Originators” means each Person listed in Schedule I to this Agreement, as such Schedule may be revised from time to time in accordance with Section 4.3 of this Agreement. 

“Payment Date” means, with respect to any Originator, (a) the Closing Date and (b) each Business Day thereafter.

  
 2 

 
  

“POR
Receivable” means a payment obligation of a Utility to an Originator arising from the sale of a Purchased-by-Utility Receivable by such Originator to such Utility. 

“Purchase and Sale Indemnified Party” has the meaning specified in Section 9.1 of this Agreement. 

“Purchase and Sale Relevant Amounts” has the meaning specified in Section 9.1 of this Agreement. 

“Purchase and Sale Termination Date” has the meaning specified in Section 1.4 of this Agreement. 

“Purchase and Sale Termination Event” has the meaning specified in Section 8.1 of this Agreement. 

“Purchase Facility” has the meaning specified in Section 1.1 of this Agreement. 

“Purchase Price” has the meaning specified in Section 2.1 of this Agreement. 

“Receivable” means any indebtedness and other obligations
of any Obligor, whether constituting an account, chattel paper, instrument or general intangible, arising
from the
non-wholesale sale of goods and/or the rendering of services by the applicable Originator to such Obligor, and includes
the obligation of the Obligor thereon to pay any finance charges, fees and other charges with respect thereto, including, without limitation, with respect to any Unbilled Receivables, 100% of the amount to be or thereafter invoiced to the Obligor.
Purchased-by-Utility Program” means a “purchase of receivables” or similar program pursuant to
which a Utility agrees to purchase Retail Receivables from an Originator. 
 “Purchased-by-Utility Receivable” means any Retail Receivable sold or contracted to be sold, by an Originator to a Utility
pursuant to a Purchased-by-Utility Program. 
 “Receivable” means any (i) Retail Receivable other than any Excluded Retail Receivable or (ii) POR
Receivable. 
 “Receivables Purchase Agreement” has the meaning
specified in the first paragraph of this Definitions section. 
 “Related Rights” has the meaning specified in the
last paragraph of Section 1.1 of this Agreement. 
 “Related Security” means, with respect to any Sold
Receivable: 
 (a) all instruments and chattel paper that may evidence such
Receivable,; 
 (b) all other security interests or liens and property subject thereto from time to time
purporting to secure payment of such Receivable, whether pursuant to the Contract related to such Receivable or otherwise, together with any UCC financing statements or similar filings relating thereto, and;

  
 3 

 
  

 (c)
(i) with respect to a Retail Receivable, all of the applicable
Originator’s rights, interests and claims under the Contract(s) with respect to such Receivable,
andRetail Receivable or (ii) with respect to a POR Receivable, all of the applicable Originator’s rights,
interests and claims to receive payment from the applicable Utility under the Contract(s) with respect to such POR
Receivable and, in each case, all guaranties, indemnities, insurance and other agreements (including the related Contract), supporting obligations (as defined in the UCC) or arrangements of
whatever character from time to time, supporting or securing payment of
such Receivable or otherwise relating to such Receivable, whether pursuant to the Contract related to such Receivable or
otherwise; and 

(d) all proceeds of the
foregoing. 

“Retail Receivable”
means any indebtedness and other obligations of any Obligor, whether constituting an account, chattel paper, instrument
or general intangible, representing part or all of the sales price
of the non-wholesale sale of goods and/or the rendering of services
by any Originator to such Obligor, and includes the obligation of the Obligor thereon to pay any finance charges, fees and other charges with respect thereto, including, without limitation, with respect
to any Unbilled Receivables, 100% of the amount to be or thereafter invoiced to the Obligor. 

“Servicer” has the meaning specified in the first paragraph of this Definitions section. 

“Sold Receivable” means, with respect to any Originator, a Receivable sold or contributed, or purported
to be sold or contributed, hereunder to the Company by such Originator.

 “TXU” has the meaning specified in paragraph 1 of the Background statements to this Agreement. 

“Unmatured Purchase and Sale Termination Event” means an event that, with the giving of notice or lapse of time, or both,
would constitute a Purchase and Sale Termination Event. 

“Utility”
means an electric utility (or affiliated captive finance company). 
 ARTICLE
I 
 AGREEMENT TO PURCHASE AND SELL;
CONTRIBUTIONS OF RECEIVABLES 
 Section 1.1 Agreement To Purchase and Sell;
Contributions of Receivables. On the terms and subject to the conditions set forth in this Agreement, each Originator hereby sells (or, in the case of TXU, contributes, sells or assigns) to the Company, and the Company hereby purchases or, in
the case of contributions or assignments, accepts from such Originator, from time to time on or after the Closing Date, but before the Purchase and Sale Termination Date, all of such Originator’s right, title and interest in and to: 

(a) each Receivable generated by such Originator prior to the Purchase and Sale Termination Date, whether now existing or
hereafter created by such Originator; 
 (b) all rights to, but not the obligations of, such Originator under all Related
Security with respect to any of the foregoing Receivables; 

  
 4 

 
  

 (c) all monies due or to become due to such Originator with respect to any
of the foregoing; 
 all books and records of such Originator to the extent related to any of the foregoing, together with
all rights (but not obligations) of such Originator under the Contracts with respect to such Receivables to which such Originator is a party; and 

(e) all Collections and other proceeds (as defined in the UCC) of any of the foregoing (including, without limitation, invoice
price, finance charges, interest and all other charges) received by (or for the account of) such Originator in respect of any of the foregoing (including, without limitation, net proceeds of sale or other disposition of repossessed goods or other
collateral or property of the Obligors in respect of any of the above Receivables or any other parties directly or indirectly liable for payment of such Receivables); 

All purchases, contributions and assignments hereunder shall be made without recourse, but shall be made pursuant to, and in reliance upon,
the representations, warranties and covenants of such Originator set forth in this Agreement and each other Transaction Document to which such Originator is a party. No obligation or liability to any Obligor on any Receivable is intended to be
assumed by the Company hereunder, and any such assumption is expressly disclaimed. The Company’s foregoing commitment to purchase Receivables and the proceeds and rights described in clauses (b) through
(e) (collectively, the “Related Rights”) is herein called the “Purchase Facility.” 

Section 1.2 Timing of Purchases and Contributions. 

(a) Closing Date Purchases and Contributions. Each Originator’s entire right, title and interest in (i) each Receivable that existed
and was owing to such Originator on the Closing Date for such Originator and (ii) all Related Rights with respect thereto automatically shall be deemed to have been sold or contributed, as applicable, by such Originator to the Company on the
Closing Date. 
 (b) Subsequent Purchases and Contributions. After the Closing Date for any Originator, on each Business Day until the
Purchase and Sale Termination Date, each Receivable and the Related Rights with respect thereto generated by such Originator shall be deemed to have been sold or contributed, as applicable, by such Originator to the Company immediately (and without
further action) upon the creation of such Receivable. 
 Section 1.3 Consideration for Purchases. On the terms and subject to
the conditions set forth in this Agreement, the Company agrees to pay the applicable Purchase Price to the applicable Originator in accordance with Article III and to reflect all capital contributions in accordance with
Section 3.2(b). 
 Section 1.4 Purchase and Sale Termination Date. The “Purchase and Sale
Termination Date” for each Originator shall be the earlier of (i) date the Purchase Facility is terminated with respect to such Originator pursuant to Section 8.2 or (ii) the Facility Termination Date (as such term is
defined in the Receivables Purchase Agreement). 

  
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 Section 1.5 Intention of the Parties. It is the express intent of each
Originator and the Company that each conveyance by such Originator to the Company pursuant to this Agreement of any Receivables and Related Rights, including, without limitation, all Sold Receivables, if any, constituting “accounts,”
“chattel paper,” “payment intangibles,” “instruments” or “general intangibles” (each as defined in the UCC), be construed as a valid and perfected sale or contribution, as the case may be, and absolute
assignment (without recourse except as provided herein) of such Receivables and Related Rights by such Originator to the Company (rather than the grant of a security interest to secure a debt or other obligation of such Originator) and that the
right, title and interest in and to such Receivables and Related Rights conveyed to the Company be prior to the rights of and enforceable against all other Persons at any time, including, without limitation, lien creditors, secured lenders,
purchasers and any Person claiming through such Originator. The parties acknowledge that an outright sale of receivables and interests in receivables is governed by Article 9 of the UCC (“Article 9”), notwithstanding that such a
sale is not intended for security. The parties also acknowledge that, as a drafting convention under Article 9, terms used under Article 9 for secured transactions also apply to outright sales of receivables, including “debtor,” which
applies to a seller of receivables, “secured party,” which applies to a buyer of receivables, and “security interest,” which applies to the buyer’s outright ownership interest. Thus, such terms, and other terms used in
Article 9, will apply to this Agreement, and may be used in this Agreement or in connection with this Agreement and such use does not affect the nature of the outright sale or contribution hereunder of the Receivables by the Originators to the
Company. Thus, under the Article 9 drafting convention, the outright sale or contribution of the Sold Receivables may be described as a transaction by which the Originators have granted to the Company a security interest in, among other things, the
Sold Receivables. However, if, contrary to the mutual intent of the parties, any conveyance hereunder of Receivables and Related Rights is not construed to be both a valid and perfected sale and absolute assignment of such Receivables and Related
Rights, and a conveyance of such Receivables and Related Rights that is prior to the rights of and enforceable against all other Persons at any time, including, without limitation, lien creditors, secured lenders, purchasers and any Person claiming
through any Originator, then, it is the intent of such Originator and the Company that (i) this Agreement also shall be deemed to be, and hereby is, a security agreement within the meaning of the UCC; and (ii) such Originator shall be
deemed to have granted to the Company as of the date of this Agreement, and such Originator hereby grants to the Company, a security interest in, to and under, all of such Originator’s right, title and interest in and to each Receivable
generated by such Originator prior to the Purchase and Sale Termination Date and all Related Rights with respect thereto, whether now existing or hereafter created by such Originator to secure the prompt and complete payment of a loan deemed to have
been made in an amount equal to the Purchase Price of the Receivables originated by such Originator, together with all other obligations of such Originator hereunder. 

ARTICLE II 
 CALCULATION
OF PURCHASE PRICE 
 Section 2.1 Calculation of Purchase Price. The “Purchase Price” to be paid to each
Originator for the Receivables that are purchased hereunder from such Originator shall be (i) determined in accordance with the following formula and (ii) subject to the reductions as provided in Sections 3.3(i): 

  
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	PP	  	=	  	OB x [1 - FMVD]
			
	where:	  		  	
			
	PP	  	=	  	Purchase Price for each Receivable as calculated on the relevant Payment Date.
			
	OB	  	=	  	The Outstanding Balance of such Receivable on the relevant Payment Date.
			
	FMVD	  	=	  	2.07% or such other percentage as agreed to between such Originator and the Company to reflect a fair market price for the Receivables.

 ARTICLE III 

PAYMENT OF PURCHASE PRICE; CONTRIBUTIONS OF
RECEIVABLES 
 Section 3.1 Initial Purchase Price Payment; Initial Contribution of Receivables by TXU. On the
terms and subject to the conditions set forth in this Agreement, the Company agrees to (a) pay to such Originator the Purchase Price for the purchase to be made from such Originator on the Closing Date for such Originator partially in cash (in
an amount to be agreed between the Company and such Originator) and partially by the delivery of proceeds of a subordinated loan made by such Originator to the Company in an initial principal amount equal to the remaining Purchase Price, which loan
shall be evidenced by a promissory note in the form of Exhibit A (each such promissory note issued to an Originator, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with all promissory notes
issued from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, being herein called a “Company Note”), or (b) with respect to Receivables originated by TXU, accept a
contribution of Receivables to its capital (in an amount to be agreed between the Company and TXU) on the Closing Date for TXU 

Section 3.2 Subsequent Purchase Price Payments; Subsequent Contributions of Receivables. (a) On each Payment Date subsequent
to the Closing Date for each Originator, on the terms and subject to the conditions set forth in this Agreement, the Company shall pay to each Originator the Purchase Price for the Receivables sold by such Originator hereunder on such Payment Date:

 (a) FIRST, in cash to the extent the Company has cash available therefor and such payment is not prohibited under the
Receivables Purchase Agreement; and 
 (b) SECOND, to the extent any portion of the Purchase Price remains unpaid, the
principal amount outstanding under such Originator’s Company Note shall be automatically increased by an amount equal to such remaining Purchase Price, so long as the aggregate principal amount of all of the Company Notes does not cause the
Company’s tangible net worth to be less than the greater of (i) $8,400,000 and (ii) the amount that is 2.4% of the Purchase Limit as of such date. 

  
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 The total consideration paid by the Company to each Originator for each sale of Receivables
by such Originator hereunder shall represent a reasonable arm’s length price for the Receivables so sold by such Originator and shall constitute reasonably equivalent value for the Receivables so sold by such Originator. 

Each Originator shall make all appropriate record keeping entries with respect to the Company Notes payable to it to reflect the foregoing
payments and reductions made pursuant to Section 3.3, and such Originator’s books and records shall constitute rebuttable presumptive evidence of the principal amount of, and accrued interest on, the Company Note payable to
such Originator at any time. 
 (b) As contemplated in Sections 1.1 and 1.2, TXU may (but shall have no obligation to), from time to time
subsequent to the Closing Date for TXU, contribute Receivables to the capital of the Company. All such contributions shall be properly reflected by TXU and the Company in their respective books and records. 

Section 3.3 Settlement as to Specific Receivables and Deemed Collections. If on any day there are unpaid Deemed Collections with
respect to Sold Receivables, then such Deemed Collections shall be paid as follows: 
 (i) as long as no Termination Event exists under the
Receivables Purchase Agreement and the Purchase and Sale Termination Date has not occurred, the amount of such Deemed Collections shall be paid, first, by means of a reduction of the Purchase Price payable by the Company to the applicable Originator
on such day; second, if the amount of such Deemed Collections exceeds the Purchase Price payable to the applicable Originator, the remaining amount of Deemed Collections shall be paid by means of a reduction of the principal amount outstanding under
the Company Note payable to such Originator (to the extent of any outstanding principal amount under the Company Note payable to such Originator); and, third, any remaining amount of Deemed Collections shall be paid by the applicable Originator to
the Company, on the first Settlement Date after the event giving rise the applicable Deemed Collection, by deposit in immediately available funds of such remaining amount into a Collection Account or the Concentration Account; or 

(ii) if a Termination Event exists under the Receivables Purchase Agreement or the Purchase and Sale Termination Date has occurred, all Deemed
Collections shall be paid by the applicable Originator to the Company on the first Settlement Date after the event giving rise to the applicable Deemed Collection by deposit in immediately available funds of the amount of such Deemed Collections
into a Collection Account or the Concentration Account. 
 Section 3.4 Reconveyance of Receivables. In the event that an
Originator has paid to the Company the full Outstanding Balance of any Sold Receivable pursuant to Section 3.3, such Originator may elect to have the Company reconvey such Sold Receivable to such Originator. Any such reconveyance shall be
without recourse and without representation or warranty except that such Sold Receivable is free and clear of all liens, security interests, charges, and encumbrances created by the Company. Once so reconveyed by the Company to such Originator, such
Originator shall not thereafter sell or contribute such Receivable to the Company. 

  
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 ARTICLE IV 

CONDITIONS TO EFFECTIVENESS AND PURCHASES 

Section 4.1 Conditions Precedent to Effectiveness. This Agreement shall become effective at such time as it is executed and
delivered by the Originators and the Company. 
 Section 4.2 Certification as to Representations and Warranties. Each
Originator, by accepting the Purchase Price related to each purchase of Receivables generated by such Originator, shall be deemed to have certified that the representations and warranties contained in Article V are true and correct in all
material respects or, if such representation or warranty is by its terms subject to a materiality qualification or a Vistra Group Material Adverse Effect qualification, such representation or warranty is true and correct in all respects, on and as
of such day, with the same effect as though made on and as of such day (except for representations and warranties which apply to an earlier date, in which case such representations and warranties shall be true and correct in all material respects
or, if such representation or warranty is by its terms subject to a materiality qualification or a Vistra Group Material Adverse Effect qualification, such representation or warranty shall be true and correct in all respects, as of such earlier
date). 
 Section 4.3 Additional Originators. Additional Persons may be added as Originators hereunder, with the prior written
consent of the Company, the Administrator and each Purchaser Agent (each acting in its sole discretion); provided that no Person may be added as an Originator hereunder unless the following conditions are satisfied on or before the date of
such addition: 
 (a) such proposed additional Originator shall have executed and delivered to the Company, the Administrator
and each Purchaser Agent an agreement substantially in the form attached hereto as Exhibit B (a “Joinder Agreement”); 

(b) the Purchase and Sale Termination Date shall not have occurred; and 

such proposed additional Originator shall have delivered to the Company, each Purchaser Agent and the Administrator (as the
Company’s assignee) on or before the Closing Date for such Originator, the following, each (unless otherwise indicated) dated the Closing Date for such Originator, and each in form and substance reasonably satisfactory to the Company, each
Purchaser Agent and the Administrator (as the Company’s assignee): 
 (i) A certified copy, dated as of the applicable
Closing Date, of the resolutions of the appropriate governing body of such Originator authorizing the execution, delivery and performance by it of the Transaction Documents to which it is a party; 

  
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 (ii) A good standing (or comparable) certificate with respect to such
Originator issued by the Secretary of State (or a comparable official) of the jurisdiction of such Originator’s organization or formation, dated as of a date prior to, but reasonably near the applicable Closing Date; 

(iii) A certificate of an appropriate officer, director or manager, as applicable, of such Originator dated as of the
applicable Closing Date, certifying as to (i) the names and true signatures of its officers who are authorized to sign the Transaction Documents, (ii) the truth and correctness in all material respects of the representations and warranties
in the Transaction Documents, and (iii) the absence of any Unmatured Purchase and Sale Termination Events or Purchase and Sale Termination Events; 

(iv) A certified copy, dated as of the applicable Closing Date, of the certificate of incorporation or formation, by-laws,
limited liability company agreement or other applicable organizational document of such Originator; 
 (v) Proper financing
statements, suitable for filing under the UCC of all jurisdictions necessary in order to (i) perfect the interests of the Company contemplated by this Agreement and (ii) assign, of record, such interests to the Administrator (for the
benefit of the Purchaser Groups); 
 (vi) Completed lien search reports, dated a date prior to, but reasonably near the
applicable Closing Date, listing all financing statements filed in the jurisdiction in which such Originator is “located” (within the meaning of the UCC) that name such Originator as debtor, together with copies of such financing
statements showing no Adverse Claims on any Sold Receivables (other than those with respect to which the Administrator and the Purchaser Agents are in receipt of satisfactory evidence of the release thereof); 

(vii) Favorable opinions of counsel to such Originator, in form, substance and scope reasonably satisfactory to the Company,
each Purchaser Agent and the Administrator (as the Company’s assignee) and generally consistent with those delivered on the Closing Date; 

(viii) A Company Note in favor of such Originator, duly executed by the Company; and 

(ix) Evidence (i) of the execution and delivery by each of the parties thereto of each of the other Transaction Documents
to be executed and delivered in connection herewith and (ii) that each of the conditions precedent to the execution, delivery and effectiveness of such other Transaction Documents has been satisfied to the Company’s, each Purchaser
Agent’s and the Administrator’s reasonable satisfaction. 
 At the time any Person is added as an additional Originator pursuant
to this Section 4.3, Schedule I to this Agreement shall be deemed to be automatically amended to reflect the addition of such Originator. 

  
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 ARTICLE V 

REPRESENTATIONS AND WARRANTIES OF THE ORIGINATORS

 Each Originator hereby makes the representations and warranties set forth in this Article V as of the Closing Date for such
Originator and on each day on which such Originator sells or contributes Receivables hereunder. 
 Section 5.1 Existence. Such
Originator is duly formed, validly existing and in good standing under the laws of its jurisdiction of organization, and it is duly qualified to do business and is in good standing as a foreign organization in every jurisdiction where the nature of
its business requires it to be so qualified, except where the failure to be so qualified would not have a Vistra Group Material Adverse Effect. 

Section 5.2 Power; Non-Contravention. The execution, delivery and performance by such Originator of this Agreement and the other
Transaction Documents to which it is a party, including any use of the proceeds of any Purchase Price by it, (i) are within its powers; (ii) have been duly authorized by all necessary organizational action except where failure to obtain
any such authorization would not result in a Vistra Group Material Adverse Effect; (iii) do not contravene or result in a default under or conflict with (A) its constitutional documents; (B) any law, rule or regulation applicable to
it except where such contravention, default or conflict would not have a Vistra Group Material Adverse Effect; (C) any indenture, loan agreement, mortgage, deed of trust or other material agreement or instrument to which it is a party or by
which it is bound except where such contravention, default or conflict would not have a Vistra Group Material Adverse Effect; or (D) any order, writ, judgment, award, injunction or decree binding on or affecting it or any of its property except
where such contravention, default or conflict would not have a Vistra Group Material Adverse Effect; and (iv) do not result in or require the creation of any Adverse Claim upon or with respect to any of its properties except under the
Transaction Documents. This Agreement and the other Transaction Documents to which it is a party have been duly executed and delivered by it. 

Section 5.3 Governmental Authorization, Other Consents. No authorization, approval, consent, order or other action by, and
no notice to or filing with, any Governmental Authority or other Person that has not been made or obtained is required for the due execution, delivery and performance by such Originator of this Agreement or any other Transaction Document to which it
is a party, other than the filing of the Uniform Commercial Code financing statements and continuation statements and except where the failure to obtain such consent or authorization would not have a Material Adverse Effect. 

Section 5.4 Binding Effect. Each of this Agreement and the other Transaction Documents to which such Originator is a party
constitutes its legal, valid and binding obligation enforceable against such Originator in accordance with its respective terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws from time
to time in effect affecting the enforcement of creditors’ rights generally and by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law. 

  
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 Section 5.5 Accuracy of Information. No written information, exhibit, financial
statement, document, book, record or report furnished by or on behalf of such Originator to the Company, any Purchaser Agent or the Administrator (as the Company’s assignee) in connection with this Agreement, in each case as modified or
supplemented by other information so furnished, when taken as a whole contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made,
not misleading; provided that, with respect to projected financial information, such Originator represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time of preparation;
provided, further, that, with respect to pro forma financial information, such Originator represents only that such information was prepared in good faith and reflects, in all material respects, such pro forma financial information is
in accordance with assumptions and requirements of GAAP for pro forma presentation and based upon such other assumptions that are believed to be reasonable at the time of preparation and, to the extent material, are disclosed as part of such pro
forma financial information. 
 Section 5.6 Litigation. There is no pending or, to such Originator’s best knowledge,
threatened action or proceeding affecting such Originator or any of its Subsidiaries before any Governmental Authority or arbitrator that would have a Vistra Group Material Adverse Effect. 

Section 5.7 Unmatured Purchase and Sale Termination Event or Purchase and Sale Termination Event. No event has occurred and is
continuing or would result from a sale or contribution of Receivables or the application of the proceeds therefrom, that constitutes an Unmatured Purchase and Sale Termination Event with respect to such Originator or a Purchase and Sale Termination
Event with respect to such Originator. 
 Section 5.8 Records. Such Originator will account for each sale of ownership interests
in the Sold Receivables hereunder in its books and financial statements as sales. 
 Section 5.9 Credit and Collection
Guidelines. Such Originator has complied in all material respects with the applicable Credit and Collection Guidelines with regard to each Sold Receivable originated by such Originator and the related Contract. 

Section 5.10 Investment Company Act. Such Originator is not a company required to be registered as an “investment
company” under the Investment Company Act of 1940, as amended. 
 Section 5.11 Margin Regulations. No proceeds of any
Purchase Price received by such Originator will be used by such Originator for any purpose that violates Regulations T, U or X of the Federal Reserve Board. 

Section 5.12 Nature of Receivables. Each Receivable sold or contributed hereunder by such Originator and included as an Eligible
Receivable in the calculation of the Net Receivables Pool Balance is, on the date of such sale, contribution or calculation, an Eligible Receivable. 

Section 5.13 No Violation. Such Originator is not in violation of any order of any court, arbitrator or Governmental Authority
binding on such Originator if such violation would have a Vistra Group Material Adverse Effect. 

  
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 Section 5.14 No Fraudulent Transfer. No sale or contribution by such Originator
of any Sold Receivable constitutes a fraudulent transfer or conveyance under any United States federal or applicable state bankruptcy or insolvency Laws or is otherwise void or voidable under such or similar Laws or principles or for any other
reason. 
 Section 5.15 Location. Such Originator’s “location” (as defined in the UCC) is such jurisdiction
listed on Schedule II or such other as notified to the Company and the Administrator (as the Company’s assignee) in accordance with this Agreement. The office where such Originator keeps its records concerning the Sold Receivables is at
the address referred to in Schedule III or such other location as such Originator may notify the Company and the Administrator (as the Company’s assignee). 

Section 5.16 Ordinary Course of Business. If (but only to the extent that) the conveyance of any property described herein is not
characterized by a court or other governmental authority as a sale or absolute contribution, each remittance of Collections by such Originator to the Company hereunder will have been (i) in payment of a debt incurred by such Originator in the
ordinary course of business or financial affairs of such Originator and the Company and (ii) made in the ordinary course of business or financial affairs of such Originator and the Company. 

Section 5.17 Solvency. On the Closing Date for such Originator (before and after giving effect to the sale and contribution of
Receivables by such Originator on such Closing Date), such Originator has the ability to meet its debts as they become due. 

Section 5.18 Names. Such Originator’s complete organizational name is set forth on Schedule I to this Agreement, and
it does not use and has not during the last five years used any other organizational name, trade name, doing-business name or fictitious name, except as set forth on Schedule IV and except for names first used after the date of this Agreement
and set forth in a notice delivered to the Company and the Administrator (as the Company’s assignee) pursuant to Section 6.1(m)(iv). 

Section 5.19 Ownership; Perfection. Immediately prior to the sales and contributions to the Company contemplated by this
Agreement, such Originator owns all right, title and interest in, to and under the Sold Receivables, Related Security and Collections to be sold or contributed by it hereunder, free and clear of any Adverse Claim (other than any Adverse Claim being
released upon such sale or arising solely as a result of any action taken by the Company or a Purchaser, a Purchaser Agent or the Administrator as the Company’s assignee). This Agreement creates a security interest in favor of the Company in
the Sold Receivables, Related Security and Collections and the Company has First Priority Interest in the Sold Receivables, Related Security and Collections. No effective financing statement covering any Sold Receivables or Related Security sold or
contributed by such Originator is on file in any recording office, except those filed in favor of the Company pursuant to this Agreement and the Administrator (as the Company’s assignee) pursuant to the Receivables Purchase Agreement. 

Section 5.20 Changes in Business. Since its most recent fiscal year end, there has been no change in the business, operations,
financial condition, properties or assets of such Originator that would have a Material Adverse Effect. 

  
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 Section 5.21 Compliance with Laws; Anti-Corruption Laws; Anti-Money Laundering Laws;
Sanctions. 
 Such Originator is in compliance with all laws, rules, regulations applicable to it except where such
non-compliance could not reasonably be expected to have a Vistra Group Material Adverse Effect (including, without limitation, laws, rules and regulations relating to public utilities, energy delivery and sales, truth in lending, fair credit
billing, fair credit reporting, equal credit opportunity, fair debt collection practices and privacy); provided, however, that where such compliance relates to any Anti-Corruption Laws, Anti-Money Laundering Laws or Sanctions, such Originator and
its Subsidiaries are in compliance in all material respects. 
 (a) Such Originator shall, and shall cause its subsidiaries
to, maintain and enforce policies and procedures designed to promote and achieve compliance by such Originator and its Subsidiaries with applicable Anti-Corruption Laws, Anti-Money Laundering Laws and Sanctions. 

(b) None of such Originator or any of its Subsidiaries, or, to such Originator’s knowledge, any of their respective
directors, officers or any of their respective Affiliates, agents or employees (i) has conducted their respective businesses or taken any action that would constitute or give rise to a violation of any Anti-Corruption Law or Anti-Money
Laundering Law or (ii) is or has been subject to any action, proceeding, litigation, claim or, to such Originator’s knowledge, investigation with regard to any actual or alleged violation of any Anti-Corruption Laws or Anti-Money
Laundering Laws; and 
 (c) None of such Originator or any of its Subsidiaries, or, to such Originator’s knowledge, any
of their respective directors, officers or any of their respective Affiliates, agents or employees (i) is a Sanctioned Person, (ii) is currently engaging or has engaged in any dealings or transactions with, involving or for the benefit of
a Sanctioned Person, or in or involving any Sanctioned Jurisdiction, in each case in violation of applicable Sanctions, or (iii) is subject to any action, proceeding, litigation, claim or, to such Originator’s knowledge, investigation with
regard to any actual or alleged violation of Sanctions. 
 Section 5.22 Beneficial Ownership Certification. As of the Closing
Date, the information included in the Beneficial Ownership Certification for such Originator is true and correct in all respects. 

ARTICLE VI 
 COVENANTS OF
THE ORIGINATORS 
 Section 6.1 Covenants. Until the Final Termination Date, each Originator will, unless the Administrator
and the Company shall otherwise consent in writing: 
 (a) Compliance with Laws. Comply with all applicable laws,
rules, regulations and orders applicable to it (other than those specifically relating to any Anti-Corruption Laws, Anti-Money Laundering Laws or Sanctions) (including, without 

  
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 limitation, laws, rules and regulations relating to public utilities, energy delivery and
sales, truth in lending, fair credit billing, fair credit reporting, equal credit opportunity, fair debt collection practices and privacy), except to the extent that the failure so to comply with such laws, rules and regulations would not have a
Vistra Group Material Adverse Effect. 
 (b) Offices, Records and Books of Account, Etc. (i) Keep
the office where it keeps its records concerning the Sold Receivables at the address of such Originator set forth in Schedule III of this Agreement or, following written notice of a proposed change to the Company and the Administrator (as the
Company’s assignee), at any other locations in jurisdictions where all actions reasonably requested by the Company or the Administrator (as the Company’s assignee) to protect and perfect the ownership and security interest of the Company
and the Administrator in the Sold Receivables and related items (including the other Pool Assets) have been taken and completed; and (ii) shall provide the Company and the Administrator (as the Company’s assignee) with at least 30
days’ prior written notice of any change in such Originator’s name, organizational structure or jurisdiction of organization and prior to the effectiveness of any such change such Originator shall take all such actions reasonably requested
by the Company or the Administrator (as the Company’s assignee) to protect and perfect the interest of the Company and the Administrator (as the Company’s assignee) in the Sold Receivables and related items (including the other Related
Rights); each notice to the Company and the Administrator pursuant to this sentence shall set forth the applicable change and the effective date thereof. Such Originator shall maintain and implement administrative and operating procedures (including
an ability to recreate records evidencing all Receivables sold or contributed by it and related Contracts in the event of the destruction of the originals thereof), and keep and maintain all documents, books, records, computer tapes and disks and
other information necessary for the collection of such Sold Receivables (including records adequate to permit the daily identification of each Sold Receivable and all Collections of and adjustments to each existing Sold Receivable). 

(c) Sanctions, Anti-Corruption and AML Laws. 

(i) Continue, maintain and enforce, and cause its Subsidiaries to continue to maintain and enforce, policies and procedures
designed to promote and achieve compliance by such Originator and its Subsidiaries with applicable Anti-Corruption Laws, Anti-Money Laundering Laws and Sanctions; 

(ii) not, and cause its Subsidiaries to not, directly or indirectly, (A) use any part of the proceeds of the sale of Sold
Receivables hereunder, or otherwise make available such proceeds to any Person in any manner that would constitute or give rise to a violation of Sanctions by any party hereto or (B) fund all or part of any repayment or reimbursement of the
obligations hereunder out of proceeds derived from any transaction or activity involving a Sanctioned Person or Sanctioned Jurisdiction; and 

  
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 (iii) not, directly or indirectly, use any part of the proceeds of the sale
of Sold Receivables hereunder for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or
direct business or obtain any improper advantage, in each case in violation of Anti-Corruption Laws. 
 (d) Change in
Business or Credit and Collection Guidelines. Not (i) make any material change in the character of its business which change would impair the collectability of any Sold Receivable or (ii) make any change in the Credit and Collection
Guidelines that would materially and adversely affect the collectability of the Sold Receivables, the credit quality of the Sold Receivables or the enforceability of any Contract. Such Originator shall not make any other material change in any
Credit and Collection Guidelines without giving prior written notice thereof to the Company and the Administrator (as the Company’s assignee). 

(e) Deposits to Collection Accounts. Such Originator hereby directs the Servicer to, or to cause each Payment Processor
to, instruct, all Obligors to make payments of all Sold Receivables to one or more Collection Accounts or Lock-Boxes or Payment Processors. Such Originator hereby directs the Servicer to instruct all Payment Processors to remit all payments of all
Sold Receivables to one or more Collection Accounts or Lock-Boxes. If the Servicer fails to, or fails to cause each Payment Processor to, so instruct an Obligor, or if an Obligor or a Payment Processor fails to so deliver payments to a Collection
Account or Lock-Box, such Originator will use all reasonable efforts to, or to cause each Payment Processor to, cause such Obligor or Payment Processor to deliver subsequent payments on Sold Receivables to a Collection Account or Lock-Box and
(ii) deposit, or cause to be deposited, any Collections received by it, into a Collection Account subject to a Lock-Box Agreement not later than two Business Days after receipt thereof. Such Originator shall only consent to the addition of a
Payment Processor to those listed on Schedule III to the Receivables Purchase Agreement if the Administrator has received prior written notice of such addition.
Notwithstanding the foregoing requirements of this Section 6.1(e), until May 31, 2019, Collections on Receivables originated
by Dynegy Energy Services, LLC may be received into the Dynegy Account but only so long as all available Collections in such accounts are swept
on a daily basis to the Concentration Account. 

(f) Audits. From time to time during regular business hours as reasonably requested in advance by the Company, any
Purchaser Agent or the Administrator (as assignee of the Company), permit the Company, such Purchaser Agent and the Administrator (as assignee of the Company), or their respective agents or representatives (x) to examine and make copies of and
abstracts from all books, records and documents (including computer tapes and disks) in such Originator’s possession or under its control relating to Sold Receivables and the Related Security, including the related Contracts; and (y) to visit
such Originator’s offices and properties for the purpose of examining such materials described in clause (x) above, and to discuss matters relating to Sold Receivables and the Related Security or its performance hereunder or
under the Contracts with any of its officers, employees, agents or contractors having knowledge of such matters; provided that unless a Termination Event or a Purchase and Sale Termination Event with respect to such Originator has occurred and is
continuing, no more than one such audit will occur per calendar year. 

  
 16 

 
  

 (g) Ownership Interest, Etc. Take all action necessary or
desirable to establish and maintain a First Priority Interest in the Sold Receivables, the Related Security and Collections with respect thereto in favor of the Company and the Administrator (as the Company’s assignee). 

(h) Performance and Compliance with Receivables and Contracts. Perform its obligations under the Contracts related to
the Sold Receivables to the same extent as if such Receivables had not been sold or contributed by it hereunder. 
 (i)
Taxes. File all material Tax returns and reports required by law to be filed by it and promptly pay all Taxes and governmental charges at any time owing, except when failure to do so would not reasonably be expected to have a Vistra Group
Material Adverse Effect or such Taxes are being contested in good faith by appropriate proceedings and for which appropriate reserves in accordance with relevant GAAP shall have been set aside on its books. Such Originator will pay when due, or at
the option of the Administrator (as assignee of the Company) timely reimburse it for the payment of, any Direct Taxes payable in connection with the Sold Receivables, exclusive of (i) any Taxes imposed on any Purchaser and (ii) any Direct
Taxes the validity of which are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with relevant GAAP shall have been set aside on its books. 

(j) Marking of Records. At its expense, mark its master data processing records relating to Sold Receivables and related
Contracts, including with a legend evidencing that the ownership interest related to the Sold Receivables and related Contracts have been sold in accordance with this Agreement. 

(k) [Reserved]. 

Separate Existence. Take all steps specifically required by this Agreement to continue the Company’s identity as a
separate legal entity and to make it apparent to third Persons that the Company is an entity with assets and liabilities distinct from those of such Originator and any other Person, and is not a division of such Originator or any other Person.
Without limiting the generality of the foregoing and in addition to and consistent with the other covenants set forth herein, such Originator agrees to take such actions as are necessary on its part to ensure that the facts and assumptions set forth
in the opinion issued by Sidley Austin LLP, as counsel for the Company, in connection with the closing of the transactions contemplated in the Transaction Documents (or in any similar opinion rendered in connection with the addition of such Person
as an Originator) and relating to true sale and substantive consolidation issues, and in the certificates accompanying such opinion, remain true and correct in all material respects at all times. 

(l) Reporting Requirements. Provide to the Company, each Purchaser Agent and the Administrator (as the Company’s
assignee): 

  
 17 

 
  

 (i) Purchase and Sale Termination Events. As soon as possible and in
any event within five Business Days after becoming aware of the occurrence of any Purchase and Sale Termination Event or Unmatured Purchase and Sale Termination Event, a statement of a financial officer of such Originator setting forth details of
such Purchase and Sale Termination Event or Unmatured Purchase and Sale Termination Event and the actions taken and proposed to be taken with respect thereto; 

(ii) EU Regulation Compliance. Such other information (including nonfinancial information) as any Purchaser, the
Administrator or any Purchaser Agent may from time to time reasonably request in order to assist such persons (or any related Program Support Provider) in complying with the requirements of Article 409 of Regulation (EU) No. 575/2013 of the
European Parliament as may be applicable to such Purchaser, the Administrator or such Purchaser Agent (or Program Support Provider). In particular, such persons shall be provided with all materially relevant data on the credit quality and
performance of the Sold Receivables, cash flows and collateral supporting the Sold Receivables, and such information that is necessary to conduct comprehensive and well informed stress tests on the cash flows and collateral values supporting the
Sold Receivables; 
 (iii) ERISA Event. Promptly and in any event within five Business Days after obtaining knowledge
of the occurrence or existence of any ERISA Event which, either individually or in the aggregate, could reasonably be expected to have a Vistra Group Material Adverse Effect, notice of such ERISA Event setting forth the details of such ERISA Event
and the action that it proposes to take with respect thereto; 
 (iv) Name Changes; Etc. At least 30 days before any
change in its name, a notice setting forth such change and the effective date thereof; 
 (v) Adverse Claims.
Promptly, notice in writing of (A) any Adverse Claim upon the Sold Receivables or Collections with respect thereto, (B) any Person other than the Company, the Servicer or the Administrator obtaining any rights or directing any action with
respect to any Collection Account, Lock-Box or Payment Processor or (C) any Obligor receiving any change in payment instructions with respect to Sold Receivable(s) from a Person other than the Company, the Servicer or the Administrator; 

(vi) Litigation. Promptly after obtaining knowledge thereof, notice of any (A) litigation or proceeding that may
exist at any time between such Originator or any of its Subsidiaries and any Governmental Authority that, if not cured or if adversely determined, as the case may be, would have a Vistra Group Material Adverse Effect; (B) litigation or
proceeding adversely affecting such Originator or any of its Subsidiaries in which the amount involved would have a Vistra Group Material Adverse Effect or in which injunctive or similar relief is sought that would have a Vistra Group Material
Adverse Effect; or (C) litigation or proceeding relating to any Transaction Document; and 

  
 18 

 
  

 (vii) Other Information. Promptly, such other information respecting
the Sold Receivables or the condition or operations, financial or otherwise, of such Originator as the Company, any Purchaser Agent or the Administrator (as the Company’s designee) may from time to time reasonably request. 

(m) Sales, Liens, etc. Except as otherwise provided in the Transaction Documents, not sell, assign (by
operation of law or otherwise) or otherwise dispose of, or create or suffer to exist any Adverse Claim upon (including, without limitation, the filing of any financing statement) or with respect to, (i) any Sold Receivable or Related Rights
with respect thereto or (ii) in the case of TXU, its membership interests in the Company or assign any right to receive income in respect thereof. 

(n) Extension or Amendment of Receivables. Except as otherwise permitted in the Receivables Purchase Agreement
(including in accordance with the applicable Credit and Collection Guidelines), not extend the maturity or adjust the Outstanding Balance downward or otherwise modify the payment terms of any Sold Receivable in any material respect, or amend, modify
or waive, in any material respect, any term or condition of any related Contract (which term or condition relates to payments under such Contract). 

(o) Notice of Change in Beneficial Ownership. Promptly notify the Company, the Administrator and each Purchaser Agent of
any change in the information provided in the Beneficial Ownership Certification for such Originator that would result in a change to the list of beneficial owners identified therein. 

(p) Certain Agreements. Without the prior written consent of the Administrator or except as otherwise permitted under
the relevant Transaction Document, such Originator will not amend, modify, waive, revoke or terminate any Transaction Document to which it is a party. 

(q) Merger, Acquisitions, Sales, etc. Such Originator will not (i) consolidate or merge with or into any other
Person or (ii) sell, lease or otherwise transfer (in one transaction or in a series of transactions) all or substantially all of its assets to any other Person; provided, that (x) any Person may consolidate or merge with or into such
Originator in a transaction in which such Originator is the surviving Person, and (y) if at the time thereof and immediately after giving effect thereto no Termination Event or Unmatured Termination Event shall have occurred and be continuing,
any Person may consolidate or merge with or into such Originator, and such Originator may consolidate or merge with or into any Person, as long as (A) the surviving entity, if other than such Originator, assumes each of the obligations of such
Originator under this Agreement and the other Transaction Documents pursuant to an agreement executed and delivered to the Administrator (as the Company’s assignee) in a form reasonably satisfactory to the Administrator (as the Company’s
assignee) and (B) if the surviving entity is not such Originator, the Performance Guarantor expressly ratifies in writing all of its obligations under the Receivables Purchase Agreement (including the Performance Guaranty), after giving effect
to such consolidation or merger. 

  
 19 

 
  

 (r) Further Assurances. Such Originator hereby authorizes the Company
and the Administrator (as the Company’s assignee) and hereby agrees from time to time, at its own expense, promptly to execute (if necessary) and deliver all further instruments and documents, and to take all further actions, that may be
necessary or reasonably desirable, or that the Company, the Administrator or any Purchaser Agent may reasonably request, to perfect, protect or more fully evidence the purchases made under this Agreement and/ or security interest granted pursuant to
this Agreement or any other Transaction Document, or to enable the Company, the Administrator, for the benefit of each Purchaser Group, any Purchaser Agent or the Purchasers to exercise and enforce their respective rights and remedies under this
Agreement or any other Transaction Document. Without limiting the foregoing, such Originator hereby authorizes, and will, upon the request of the Company, the Administrator or any Purchaser Agent, at such Originator’s own expense, execute (if
necessary) and file such financing or continuation statements, or amendments thereto, and such other instruments and documents, that may be necessary or desirable, or that the Company, the Administrator or any Purchaser Agent may reasonably request,
to perfect, protect or evidence any of the foregoing. Such Originator authorizes the Company or the Administrator (as the Company’s assignee) to file financing or continuation statements, and amendments thereto and assignments thereof, relating
to the Sold Receivables and the Related Security, the related Contracts and the Collections with respect thereto and the other collateral subject to a lien under any Transaction Document without the signature of such Originator. A photocopy or other
reproduction of this Agreement shall be sufficient as a financing statement where permitted by Law. 
 ARTICLE VII 

ADDITIONAL RIGHTS AND OBLIGATIONS IN RESPECT
OF RECEIVABLES 
 Section 7.1 Rights of the Company. Each Originator hereby authorizes the
Company and the Servicer to take any and all steps in such Originator’s name necessary or desirable, in their respective determination, to collect all amounts due under any and all Receivables sold, contributed or otherwise conveyed or
purported to be conveyed by it hereunder, including, without limitation, if a Purchase and Sale Termination Event exists, endorsing the name of such Originator on checks and other instruments representing Collections and enforcing such Receivables
and the provisions of the related Contracts that concern payment and/or enforcement of rights to payment. 
 Section 7.2
Responsibilities of the Originators. Anything herein to the contrary notwithstanding: 
 Collection Procedures.
Each Originator agrees to (i) direct, or cause each Payment Processor to direct, its respective Obligors to make payments of Receivables sold, contributed or otherwise conveyed or purported to be conveyed by it hereunder to one or more
Collection Accounts or Lock-Boxes or Payment Processors and (ii) direct each Payment Processor to remit all payments of Receivables sold, contributed or otherwise conveyed or purported to be conveyed by it hereunder to one or more Collection
Accounts or Lock-Boxes. Each Originator further agrees to transfer any 

  
 20 

 
  

 Collections of Sold Receivables that it receives directly to a Collection Account or the
Concentration Account within two (2) Business Days of receipt thereof, and agrees that all such Collections shall be deemed to be received in trust for the Company and the Administrator (as the Company’s assignee). Notwithstanding the foregoing requirements of this Section 7.2(a), until May 31, 2019, Collections on Receivables originated by
Dynegy Energy Services, LLC may be received into the Dynegy Account but only so long as all available Collections in such accounts are swept on a daily basis to the Concentration Account.

 (a) Each Originator shall perform its obligations hereunder, and the exercise by the Company or its designee of its
rights hereunder shall not relieve such Originator from such obligations. 
 (b) The Company shall have no obligation or
liability to any Obligor or any other Person with respect to any Receivables, Contracts related thereto or any other related agreements, nor shall the Company be obligated to perform any of the obligations of any Originator thereunder. 

(c) Each Originator hereby grants to the Servicer an irrevocable power of attorney, with full power of substitution, coupled
with an interest, during the occurrence and continuation of a Purchase and Sale Termination Event or a Termination Event to take in the name of such Originator all steps necessary or advisable to endorse, negotiate or otherwise realize on any
writing or other right of any kind held or transmitted by such Originator or transmitted or received by the Company (whether or not from such Originator) in connection with any Receivable or Related Rights sold, contributed or otherwise conveyed or
purported to be conveyed by it hereunder. Each Originator hereby acknowledges and consents to the powers of attorney granted by the Company and the Servicer to the Administrator pursuant to Section 4.4(b) of the Receivables
Purchase Agreement. 
 Section 7.3 Further Action Evidencing Purchases. Each Originator agrees that from time to time, at its
expense, it will promptly execute and deliver all further instruments and documents, and take all further action that the Company, the Servicer or the Administrator (as the Company’s assignee) may reasonably request in order to perfect, protect
or more fully evidence the Sold Receivables and Related Rights purchased by or contributed to the Company hereunder, or to enable the Company or the Administrator (as the Company’s assignee) to exercise or enforce any of its rights hereunder.
Without limiting the generality of the foregoing, upon the request of the Company or the Administrator (as the Company’s assignee), such Originator will execute (if applicable), authorize and file such financing or continuation statements, or
amendments thereto or assignments thereof, and such other instruments or notices, as may be necessary or appropriate to perfect, protect or evidence any of the foregoing. 

Each Originator hereby authorizes the Company or its designee or assignee (including, without limitation, the Administrator) to file one or
more financing or continuation statements, and amendments thereto and assignments thereof, without the signature of such Originator, relative to all or any of the Receivables and Related Rights sold, contributed or otherwise conveyed or purported to
be conveyed by it hereunder, whether now existing or hereafter 

  
 21 

 
  

 generated by such Originator. If any Originator fails to perform any of its agreements or obligations under
this Agreement, the Company or its designee or assignee (including, without limitation, the Administrator) may (but shall not be required to) itself perform, or cause the performance of, such agreement or obligation, and the expenses of the Company
or its designee or assignee (including, without limitation, the Servicer and the Administrator) incurred in connection therewith shall be payable by such Originator. 

Section 7.4 Application of Collections. Any payment by an Obligor in respect of any indebtedness owed by it to any Originator
shall, except as otherwise specified by such Obligor or required by applicable law and unless otherwise instructed by the Servicer (with the prior written consent of the Administrator) or the Administrator, be applied as a Collection of any
Receivable or Receivables of such Obligor to the extent of any amounts then due and payable thereunder before being applied to any other indebtedness of such Obligor. 

ARTICLE VIII 

PURCHASE AND SALE TERMINATION EVENTS 

Section 8.1 Purchase and Sale Termination Events. As used in this Agreement, “Purchase and Sale Termination
Event” means with respect to an Originator, the occurrence of any Termination Event (as such term is defined in the Receivables Purchase Agreement) under clause (g) of the definition thereof, related to such Originator. 

Section 8.2 Termination; Remedies. 

(a) Termination. Upon the occurrence of a Purchase and Sale Termination Event, the Company shall have the option, by notice to the
affected Originator (with a copy to the Administrator), to declare the Purchase Facility, as it relates to the affected Originator, terminated. 

(b) Remedies Cumulative. Upon any termination of the Purchase Facility as it relates to any Originator pursuant to Section 8.2(a),
the Company shall have, in addition to all other rights and remedies under this Agreement, all other rights and remedies provided under the UCC of each applicable jurisdiction and other applicable laws, which rights shall be cumulative. 

ARTICLE IX 

INDEMNIFICATION 

Section 9.1 Indemnities by the Originators. Without limiting any other rights which the Company may have hereunder or under
applicable law, each Originator, severally and for itself alone, hereby agrees to indemnify and hold harmless the Company and each of its Affiliates, agents, employees, officers, and directors (each of the foregoing Persons being individually called
a “Purchase and Sale Indemnified Party”), forthwith on demand, from and against any and all claims, damages, expenses, costs, losses and liabilities, including Attorney Costs (all of the foregoing being collectively called
“Purchase and Sale Relevant Amounts”) arising out of or resulting from the failure of such Originator to perform its obligations under this Agreement, or arising out of the claims asserted against a Purchase and Sale Indemnified
Party relating to the acquisition of the Sold Receivables by the Company, excluding, Purchase and Sale 

  
 22 

 
  

 Relevant Amounts to the extent, (a) such Purchase and Sale Relevant Amounts are determined by a court
of competent jurisdiction by final and nonappealable judgment to have resulted from the fraud, gross negligence or willful misconduct of such Purchase and Sale Indemnified Party, (b) due to the credit risk of an Obligor and for which
reimbursement would constitute recourse to any Originator for uncollectible Receivables or (c) such Purchase and Sale Relevant Amounts are in respect of Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any
non-Tax claim; provided, that nothing contained in this sentence shall limit the liability of such Originator or limit the recourse of any Purchase and Sale Indemnified Party to such Originator for any amounts otherwise specifically provided
to be paid by such Originator hereunder. Without limiting the foregoing indemnification, but subject to the limitations set forth in clauses (a), (b) and (c) of the previous sentence, each Originator, severally
for itself alone, shall indemnify each Purchase and Sale Indemnified Party for Purchase and Sale Relevant Amounts relating to or resulting from: 

(a) the failure of any representation or warranty made or deemed made by such Originator (or any of its officers, employees or
agents) under or in connection with this Agreement or any other Transaction Document to have been true and correct as of the date made or deemed made; 

(b) the failure by such Originator to comply with any applicable law, rule or regulation with respect to any Sold Receivable
generated by such Originator or the related Contract or the failure of any Sold Receivable or the related Contract to conform to any such applicable law, rule or regulation; 

(c) the failure by such Originator to vest in the Company a First Priority Interest in the Sold Receivables generated by such
Originator; 
 (d) any commingling of Collections with other funds; 

any dispute, claim, offset or defense (other than discharge in bankruptcy of an Obligor) of an Obligor to the payment of any
Sold Receivable generated by such Originator (including, without limitation, a defense based on such Receivable or the related Contract not being a legal, valid and binding obligation of such Obligor enforceable against it in accordance with its
terms), or any other claim resulting from the sale of goods or services related to any such Sold Receivable or the furnishing of or failure to furnish such goods or services or relating to collection activities with respect to such Sold Receivable
or any Contract related thereto (if such collection activities were performed by such Originator or any of its Affiliates or by any agent or independent contractor retained by such Originator or its Affiliates); 

(f) any failure of such Originator to perform its duties and obligations in accordance with the provisions of this Agreement,
any Contract or any other Transaction Document to which it is a party or under the Contracts; 
 (g) any products liability,
environmental or other claim by an Obligor or other third party arising out of the goods or services which are the subject of any Sold Receivable generated by such Originator or the related Contract; 

  
 23 

 
  

 (h) the use of any Purchase Price paid to such Originator; 

the failure of such Originator to pay when due any Taxes, energy surcharges or other governmental charges payable by it in
connection with the Sold Receivables generated by it or this Agreement; 
 (i) any investigation, litigation or proceeding
relating to this Agreement, any of the other Transaction Documents or the ownership of the Sold Receivables generated by such Originator; 

(j) any action taken by such Originator (or any of its Affiliates) in the enforcement or collection of any Sold Receivable
generated by such Originator; 
 (k) the failure or delay by such Originator in providing any Obligor with an invoice or
other evidence of indebtedness; or 
 (l) the failure of the sale and pledge of any Pool Receivable under the Transaction
Documents to comply with the notice requirements of FACA or any analogous State or local Laws. 
 ARTICLE X 

MISCELLANEOUS 

Section 10.1 Amendments, etc. 

The provisions of this Agreement may from time to time be amended, modified or waived, if such amendment, modification or
waiver is in writing and executed by the Company, the Originators and the Administrator (as the Company’s assignee). 

(a) No failure or delay on the part of the Company, the Servicer, any Originator or any assignee of any of the foregoing in
exercising any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right. No notice to or demand on the Company,
the Servicer or any Originator in any case shall entitle it to any notice or demand in similar or other circumstances. No waiver or approval by the Company or the Servicer under this Agreement shall, except as may otherwise be stated in such waiver
or approval, be applicable to subsequent transactions. No waiver or approval under this Agreement shall require any similar or dissimilar waiver or approval thereafter to be granted hereunder. 

(b) This Agreement and the other Transaction Documents embody the entire agreement and understanding among the parties hereto
and supersede all prior or contemporaneous agreements and understandings, verbal or written, relating to the subject matter hereof and thereof. 

  
 24 

 
  

 Section 10.2 Notices, etc. All notices and other communications provided
for hereunder shall, unless otherwise stated herein, be in writing (including facsimile and email communications) and shall be personally delivered or sent by facsimile or email, or by overnight mail, to the intended party at the mailing or email
address or facsimile number of such party set forth under its name on the signature pages hereof or at such other address or facsimile number as shall be designated by such party in a written notice to the other parties hereto or in the case of the
Administrator at its address for notices pursuant to the Receivables Purchase Agreement. All such notices and communications shall be effective when received. 

Section 10.3 No Waiver; Cumulative Remedies. The remedies herein provided are cumulative and not exclusive of any remedies
provided by law. 
 Section 10.4 Binding Effect; Assignability. This Agreement shall be binding upon and inure to the benefit of
the Company and each Originator and their respective successors and permitted assigns. No Originator may assign any of its rights hereunder or any interest herein without the prior written consent of the Company and, unless the Final Termination
Date has occurred, the Administrator except as otherwise herein specifically provided. Notwithstanding the foregoing, each Originator may pledge its respective Company Note. This Agreement shall create and constitute the continuing obligations of
the parties hereto in accordance with its terms, and shall remain in full force and effect until such time as the parties hereto shall agree. The rights and remedies with respect to any breach of any representation and warranty made by any
Originator pursuant to Article V and the indemnification and payment provisions of Article IX, Sections 10.6, 10.12 and 10.13 and this Section 10.4 shall be continuing and
shall survive any termination of this Agreement. 
 Section 10.5 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CONFLICTS OF LAW PROVISIONS (OTHER THAN §5-1401 AND §5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL APPLY HERETO)). 

Section 10.6 Costs, Expenses and Taxes. In addition to the obligations of the Originators under Article IX, each
Originator, severally and for itself alone, agrees to pay on demand (which demand shall be accompanied by documentation thereof in reasonable detail): 

(a) to the Company all reasonable and documented costs and expenses incurred by such Person in connection with the enforcement
of this Agreement; and 
 (b) all stamp and other Taxes and fees payable in connection with the execution, delivery, filing
and recording of this Agreement, and agrees to indemnify each Purchase and Sale Indemnified Party against any liabilities with respect to or resulting from any delay in paying or omitting to pay such Taxes and fees. 

Section 10.7 SUBMISSION TO JURISDICTION. EACH OF THE PARTIES HERETO HEREBY AGREES TO THE NON-EXCLUSIVE JURISDICTION OF ANY FEDERAL
OR STATE COURT LOCATED WITHIN THE STATE OF NEW YORK. EACH OF THE PARTIES HERETO HEREBY WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS, AND ANY OBJECTION TO VENUE OF ANY ACTION INSTITUTED HEREUNDER IN ANY OF THE AFOREMENTIONED COURTS AND CONSENTS
TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. 

  
 25 

 
  

 Section 10.8 WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO WAIVES ITS
RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY OF THE
PARTIES AGAINST ANY OTHER PARTY OR PARTIES, WITH RESPECT TO CONTRACT CLAIMS. EACH OF THE PARTIES HERETO AGREES THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A JUDGE WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, EACH OF THE PARTIES
HERETO FURTHER AGREES THAT ITS RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING THAT SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS
AGREEMENT OR ANY PROVISION HEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT. 

Section 10.9 Captions and Cross References; Incorporation by Reference. The various captions and headings of this Agreement,
including any Exhibit, Schedule or Annex hereto, are included for convenience or reference only and shall not affect the interpretation hereof or thereof. The Schedules and Exhibits hereto are hereby incorporated by reference into and made a part of
this Agreement. 
 Section 10.10 Execution in Counterparts. This Agreement may be executed in any number of counterparts (including
by facsimile or e-mail transmission), each of which, when so executed, shall be deemed to be an original, and all of which, when taken together, shall constitute one and the same agreement. 

Section 10.11 Acknowledgment and Agreement. By execution below, each Originator expressly acknowledges and agrees that
(i) the Company shall, pursuant to the Receivables Purchase Agreement, sell and assign undivided interests in the Sold Receivables to the Administrator (on behalf of the Purchaser Groups) and (ii) all of the Company’s right, title,
and interest in, to, and under this Agreement (but not its obligations), shall be assigned by the Company to the Administrator (on behalf of the Purchaser Groups) pursuant to the Receivables Purchase Agreement, and each Originator consents to the
foregoing. Each Originator further expressly acknowledges and agrees that, following the occurrence of a Termination Event, the Administrator (on behalf of the Purchaser Groups) shall have the right to enforce directly all rights hereunder of the
Company and all obligations hereunder of each Originator (but without the assumption of any obligations or liabilities hereunder). 

Section 10.12 No Proceeding. Each Originator hereby agrees that it will not institute, or join any other Person in instituting,
against the Company any Insolvency Proceeding so long as any obligations of the Company pursuant to the Receivables Purchase Agreement or any other Transaction Document remains outstanding and until one year plus one day following the day on which
such obligations are paid in full. Each Originator further agrees that notwithstanding any 

  
 26 

 
  

 provisions contained in this Agreement to the contrary, the Company shall not, and shall not be obligated
to, pay any amount in respect of any Company Note or otherwise to such Originator pursuant to this Agreement unless the Company has received funds which may, subject to Section 1.4 of the Receivables Purchase Agreement, be used to make
such payment. Any amount which the Company does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the Bankruptcy Code) against or corporate obligation of the Company for any such
insufficiency unless and until the provisions of the foregoing sentence are satisfied. The agreements in this Section 10.12 shall survive any termination of this Agreement. 

Section 10.13 Limited Recourse. Except as explicitly set forth herein, the obligations of the Company under this Agreement or any
other Transaction Document to which it is a party are solely the obligations of the Company. No recourse under any Transaction Document shall be had against, and no liability shall attach to, any officer, employee, director, or beneficiary, whether
directly or indirectly, of the Company. The agreements in this Section 10.13 shall survive any termination of this Agreement. 

Section 10.14 Treatment as Sales; Tax Treatment. Except for U.S. federal income Tax purposes, the parties hereto will not account
for or treat (whether in financial statements or otherwise) the transactions contemplated by this Agreement in any manner other than as the sale and/or absolute contribution of Receivables. The parties agree that the transactions contemplated under
this Agreement shall be treated as the issuance of indebtedness for U.S. federal income Tax purposes and agree not to take any Tax position inconsistent with such Tax treatment and shall not report the transactions arising under this Agreement in
any manner other than the issuance of indebtedness on all applicable Tax returns unless otherwise required by applicable Law. 

[SIGNATURE PAGES FOLLOW] 

  
 27 

 
  

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
respective officers thereunto duly authorized as of the date first above written. 
  

			
	TXU ENERGY RETAIL COMPANY LLC, as an Originator

 
			
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 

	
	 Address:         6555 Sierra Drive

                       Irving, TX 75039

 
 Attention: Kristopher E. Moldovan

Telephone:                     

Facsimile:                     

Email:                     

  
  

 

 
			
	TXU ENERGY RECEIVABLES COMPANY LLC

 
			
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 

	
	 Address:         6555 Sierra Drive

                       Irving, TX 75039

 
 Attention: Kristopher E. Moldovan

Telephone:                     

Facsimile:                     

Email:                     

 [Signature Page to Purchase and Sale Agreement (Vistra)] 

 
  

 Schedule I 

LIST OF ORIGINATORS 

TXU ENERGY RETAIL COMPANY LLC 

DYNEGY ENERGY
SERVICES, LLC 

DYNEGY ENERGY
SERVICES (EAST), LLC 
 Schedule I 

 
  

 Schedule II 

STATE OF ORGANIZATION OF ORIGINATORS 

 

			
	ORIGINATOR	 	STATE OF ORGANIZATION
		
	TXU ENERGY RETAIL COMPANY LLC	 	Texas
		
	DYNEGY ENERGY SERVICES, LLC	 	Delaware
		
	DYNEGY ENERGY SERVICES (EAST), LLC	 	Delaware

 Schedule II 

 
  

 Schedule III 

LOCATION OF BOOKS AND RECORDS OF
ORIGINATORS 
  

			
	ORIGINATOR	  	LOCATION OF BOOKS AND RECORDS
		
	TXU ENERGY RETAIL COMPANY LLC	  	6555 Sierra Drive
		
		  	Irving, TX 75039
		
	DYNEGY ENERGY SERVICES, LLC	  	6555 Sierra Drive
		
		  	Irving, TX 75039
		
	DYNEGY ENERGY SERVICES (EAST), LLC	  	6555 Sierra Drive
		
		  	Irving, TX 75039

 Schedule III-1 

 
  

 Schedule IV 

PRIOR NAMES; TRADE NAMES; DBA NAMES 

LEGAL
NAME 
 TXU ENERGY RETAIL
COMPANY LLC 

DYNEGY ENERGY
SERVICES, LLC 

DYNEGY ENERGY
SERVICES (EAST), LLC 
 PRIOR
NAMES (DATE OF NAME CHANGE) 
 TXU ENERGY RETAIL COMPANY LLC:
NONE. 

DYNEGY ENERGY
SERVICES, LLC: NONE. 
 DYNEGY ENERGY SERVICES (EAST), LLC: DUKE ENERGY
RETAILS SALES, LLC 
 TRADE NAMES
OR DBA NAMES 

TXU ENERGY
RETAIL COMPANY LLC: TXU, TXU ENERGY, TXU ENERGY RETAIL, TXUE 

DYNEGY ENERGY
SERVICES, LLC: BETTERBUY ENERGY; DYNEGY; HONOR ENERGY; TRUE FIT ENERGY; BRIGHTEN
ENERGY 

DYNEGY ENERGY
SERVICES (EAST), LLC: BETTERBUY ENERGY; DYNEGY; HONOR ENERGY; TRUE FIT ENERGY;
BRIGHTEN ENERGY; DYNEGY ENERGY SERVICES 

Schedule IV-1 
  

 

 Exhibit A 

FORM OF COMPANY NOTE 

New York, New York 
 FOR VALUE RECEIVED, the
undersigned, TXU ENERGY RECEIVABLES COMPANY LLC, a Delaware limited liability company (the “Company”), promises to pay to [    ], a [    ] (the “Originator”), on the terms and
subject to the conditions set forth herein and in the Purchase and Sale Agreement referred to below, the aggregate unpaid Purchase Price of all Receivables purchased by the Company from the Originator pursuant to such Purchase and Sale Agreement, as
such unpaid Purchase Price is shown in the records of the Originator. 
 1. Purchase and Sale Agreement. This Company Note is a
Company Note described in, and is subject to the terms and conditions set forth in, that certain Purchase and Sale Agreement dated as of August 21, 2018 (as the same may be amended, supplemented, restated or otherwise modified in accordance
with its terms, the “Purchase and Sale Agreement”), between the Company and the Originators named therein. Reference is hereby made to the Purchase and Sale Agreement for a statement of certain other rights and obligations of the
Company and the Originator. 
 2. Definitions. Capitalized terms used (but not defined) herein have the meanings assigned thereto in
(or by reference in) the Purchase and Sale Agreement. In addition, as used herein, the following terms have the following meanings: 

“Bankruptcy Proceedings” means a Termination Event described in clause (g) of Exhibit V to the
Receivables Purchase Agreement with respect to the Company. 
 “Eurodollar Rate” means, with respect to the period
commencing on the date hereof and ending one month thereafter and each successive one month period thereafter (each, an “Interest Period”), an interest rate per annum determined on the basis of the London interbank offered rate
administered by ICE Benchmark Administration Limited (or any other Person which takes over the administration of that rate) for deposits in United States dollars for one month period as it appears on the relevant display page on the Bloomberg
Professional Service (or any successor or substitute page or service providing quotations of interest rates applicable to United States dollar deposits in the London interbank market comparable to those currently provided on such page, as determined
by the Originator from time to time), at approximately 11:00 a.m., London, England time, two (2) Business Days prior to the first day of such Interest Period. Notwithstanding the foregoing, if the Eurodollar Rate is below zero, the rate will be
deemed to be zero. 
 “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the
rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that
if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day. 

  
 Exhibit A- 1 

 
  

 “Final Maturity Date” means the date immediately following the date that
falls one year and one day after the Final Termination Date. 
 “Interest Period” has the meaning set forth in the
definition of “Eurodollar Rate”. 
 “Senior Interests” means, collectively, (i) all accrued Discount,
(ii) the fees referred to in Section 1.5 of the Receivables Purchase Agreement, (iii) all amounts payable pursuant to Sections 1.7, 3.1, 3.2, 3.3 or 7.4 of the
Receivables Purchase Agreement, (iv) the Capital and (v) all other obligations of the Company, the Servicer and the Performance Guarantor that are due and payable, to (a) each Purchaser, each Purchaser Agent, the Administrator and
their respective successors, permitted transferees and assigns arising in connection with the Transaction Documents and/or (b) any Indemnified Party or Affected Person arising in connection with the Receivables Purchase Agreement, in each case,
howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due or to become due, together with any and all interest and Discount accruing on any such amount after the commencement of
any Bankruptcy Proceedings, notwithstanding any provision or rule of law that might restrict the rights of any Senior Interest Holder, as against the Company or anyone else, to collect such interest. 

“Senior Interest Holders” means, collectively, each Purchaser, each Purchaser Agent, the Administrator and the Indemnified
Parties and Affected Persons. 
 “Subordination Provisions” means, collectively, clauses
(a) through (l) of paragraph 9 hereof. 
 3. Interest. Subject to the Subordination Provisions,
the Company promises to pay interest on this Company Note as follows: 
 (a) Prior to the Final Maturity Date, the principal
amount of this Company Note from time to time outstanding during any Interest Period shall bear interest at a rate per annum equal to the Eurodollar Rate for such Interest Period plus 1.75%, as determined by the Originator; and 

(b) From (and including) the Final Maturity Date to (but excluding) the date on which the entire principal amount of this
Company Note is fully paid, the principal amount of this Company Note from time to time outstanding shall bear interest at a rate per annum equal to the Federal Funds Rate plus 2.25%. 

4. Interest Payment Dates. Subject to the Subordination Provisions, the Company shall pay accrued interest on this Company Note on each
Settlement Date, and shall pay accrued interest on the amount of each principal payment made in cash on a date other than a Settlement Date at the time of such principal payment. 

5. Basis of Computation. Interest accrued hereunder that is computed by reference to the Eurodollar Rate shall be computed for the
actual number of days elapsed on the basis of a 360-day year, and interest accrued hereunder that is computed by reference to the rate described in paragraph 3(b) of this Company Note shall be computed for the actual number of days elapsed on the
basis of a 365- or 366-day year, as applicable. 

  
 Exhibit A- 2 

 
  

 6. Principal Payment Dates. Subject to the Subordination Provisions, payments of the
principal amount of this Company Note shall be made as follows: 
 (a) The principal amount of this Company Note shall be
reduced by an amount equal to each payment deemed made pursuant to Section 3.3 of the Purchase and Sale Agreement; and 

(b) The entire principal amount of this Company Note shall be paid on the Final Maturity Date. 

Subject to the Subordination Provisions, the principal amount of and accrued interest on this Company Note may be prepaid by, and in the sole
discretion of the Company, on any Business Day without premium or penalty. 
 7. Payment Mechanics. All payments of principal
and interest hereunder are to be made in lawful currency of the United States of America in the manner specified in Article III of the Purchase and Sale Agreement. 

8. Enforcement Expenses. In addition to and not in limitation of the foregoing, but subject to the Subordination Provisions and to any
limitation imposed by applicable law, the Company agrees to pay all reasonable and documented expenses, including reasonable attorneys’ fees and legal expenses, incurred by the Originator in seeking to collect any amounts payable hereunder
which are not paid when due. 
 9. Subordination Provisions. The Company covenants and agrees, and the Originator and any other
holder of this Company Note (collectively, the Originator and any such other holder are called the “Holder”), by its acceptance of this Company Note, likewise covenants and agrees that: 

(a) No payment or other distribution of the Company’s assets of any kind or character, whether in cash, securities, or
other rights or property, shall be made on account of this Company Note except to the extent such payment or other distribution is permitted under Section 1(n) of Exhibit IV to the Receivables Purchase Agreement; 

(b) In the event of the occurrence of Bankruptcy Proceedings, the Senior Interests shall first be paid and performed in full
and in cash before the Holder shall be entitled to receive and to retain any payment or distribution in respect of this Company Note; 

(c) In the event that the Holder receives any payment or other distribution of any kind or character from the Company or from
any other source whatsoever, in respect of this Company Note, other than as expressly permitted by the terms of this Company Note, such payment or other distribution shall be received in trust for the Senior Interest Holders and shall promptly be
turned over by the Holder to the Administrator (for the benefit of the Senior Interest Holders); 

  
 Exhibit A- 3 

 
  

 (d) Notwithstanding any payments or distributions received by the Senior
Interest Holders in respect of this Company Note, prior to the occurrence of the Final Termination Date, the Holder shall not be subrogated to the then existing rights of the Senior Interest Holders in respect of the Senior Interests until the
Senior Interests have been paid and performed in full and in cash. Upon the occurrence of the Final Termination Date, the Holder will be subrogated to the then existing rights of the Senior Interest Holders, if any; 

(e) These Subordination Provisions are intended solely for the purpose of defining the relative rights of the Holder, on the
one hand, and the Senior Interest Holders, on the other hand. Nothing contained in these Subordination Provisions or elsewhere in this Company Note is intended to or shall impair, as between the Company, its creditors (other than the Senior Interest
Holders) and the Holder, the Company’s obligation, which is unconditional and absolute, to pay the Holder the principal of and interest on this Company Note as and when the same shall become due and payable in accordance with the terms hereof
or to affect the relative rights of the Holder and creditors of the Company (other than the Senior Interest Holders); 
 (f)
The Holder shall not, until the Senior Interests have been paid and performed in full and in cash, cancel, waive, forgive, or commence legal proceedings to enforce or collect this Company Note; 

(g) [Reserved]; 

(h) If, at any time, any payment (in whole or in part) of any Senior Interest is rescinded or must be restored or returned by a
Senior Interest Holder (whether in connection with Bankruptcy Proceedings or otherwise), these Subordination Provisions shall continue to be effective or shall be reinstated, as the case may be, as though such payment had not been made; 

(i) Each of the Senior Interest Holders may, from time to time, at its sole discretion, without notice to the Holder, and
without waiving any of its rights under these Subordination Provisions or otherwise affecting these Subordination Provisions, take any or all of the following actions: (i) retain or obtain an interest in any property to secure any of the Senior
Interests; (ii) retain or obtain the primary or secondary obligations of any other obligor or obligors with respect to any of the Senior Interests; (iii) extend or renew for one or more periods (whether or not longer than the original
period), alter or exchange any of the Senior Interests, or release or compromise any obligation of any nature with respect to any of the Senior Interests; (iv) amend, supplement, restate, or otherwise modify any Transaction Document (on the
terms set forth in such Transaction Document); and (v) release its security interest in, or surrender, release or permit any substitution or exchange for all or any part of any rights or property securing any of the Senior Interests, or extend
or renew for one or more periods (whether or not longer than the original period), or release, compromise, alter or exchange any obligations of any nature of any obligor with respect to any such rights or property; 

  
 Exhibit A- 4 

 
  

 (j) The Holder hereby waives: (i) notice of acceptance of these
Subordination Provisions by any of the Senior Interest Holders; (ii) notice of the existence, creation, non-payment or non-performance of all or any of the Senior Interests; and (iii) all diligence in enforcement, collection or protection
of, or realization upon, the Senior Interests, or any thereof, or any security therefor; 
 (k) Each of the Senior Interest
Holders may, from time to time, on the terms and subject to the conditions set forth in the Transaction Documents to which such Persons are party, but without notice to the Holder, assign or transfer any or all of the Senior Interests, or any
interest therein; and, notwithstanding any such assignment or transfer or any subsequent assignment or transfer thereof, such Senior Interests shall be and remain Senior Interests for the purposes of these Subordination Provisions, and every
immediate and successive assignee or transferee of any of the Senior Interests or of any interest of such assignee or transferee in the Senior Interests shall be entitled to the benefits of these Subordination Provisions to the same extent as if
such assignee or transferee were the assignor or transferor; and 
 (1) These Subordination Provisions constitute a
continuing offer from the Holder to all Persons who become the holders of, or who continue to hold, Senior Interests; and these Subordination Provisions are made for the benefit of the Senior Interest Holders, and the Administrator may proceed to
enforce such provisions on behalf of each of such Persons. 
 10. No Waiver; No Petition. (a) No failure or delay on the part of
the Originator in exercising any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right. No amendment,
modification or waiver of, or consent with respect to, any provision of this Company Note shall in any event be effective unless (i) the same shall be in writing and signed and delivered by the Company and the Holder and (ii) the
Administrator shall have consented thereto in writing. 
 (b) The Holder hereby agrees that it will not (i) institute against, join any
other Person in instituting against or take any action, direct or indirect, in furtherance or contemplation of instituting against, the Company any bankruptcy, insolvency, winding up, dissolution, receivership, conservatorship or other similar
proceeding or action or (ii) exercise any right of set-off or recoupment, or assert any counterclaim, against the Company in each case so long as there shall not have elapsed one year and one day since the Final Termination Date has occurred.

 11. Maximum Interest. Notwithstanding anything in this Company Note to the contrary, the Company shall never be required to pay
unearned interest on any amount outstanding hereunder and shall never be required to pay interest on the principal amount outstanding hereunder at a rate in excess of the maximum nonusurious interest rate that may be contracted for, charged or
received under applicable federal or state law (such maximum rate being herein called the “Highest Lawful Rate”). If the effective rate of interest which would otherwise by payable under this Company Note would exceed the Highest
Lawful Rate, or if the holder of this Company Note shall receive any unearned interest or shall receive monies that are deemed to constitute interest which would increase the effective rate of interest payable by the 

  
 Exhibit A- 5 

 
  

 Company under this Company Note to a rate in excess of the Highest Lawful Rate, then (i) the amount of
interest which would otherwise be payable by the Company under this Company Note shall be reduced to the amount allowed by applicable law, and (ii) any unearned interest paid by the Company or any interest paid by the Company in excess of the
Highest Lawful Rate shall be refunded to the Company. Without limitation of the foregoing, all calculations of the rate of interest contracted for, charged or received by the Originator under this Company Note that are made for the purpose of
determining whether such rate exceeds the Highest Lawful Rate applicable to the Originator (such Highest Lawful Rate being herein called the “Originator’s Maximum Permissible Rate”) shall be made, to the extent permitted by
usury laws applicable to the Originator (now or hereafter enacted), by amortizing, prorating and spreading in equal parts during the actual period during which any amount has been outstanding hereunder all interest at any time contracted for,
charged or received by the Originator in connection herewith. If at any time and from time to time (i) the amount of interest payable to the Originator on any date shall be computed at the Originator’s Maximum Permissible Rate pursuant to
the provisions of the foregoing sentence and (ii) in respect of any subsequent interest computation period the amount of interest otherwise payable to the Originator would be less than the amount of interest payable to the Originator computed
at the Originator’s Maximum Permissible Rate, then the amount of interest payable to the Originator in respect of such subsequent interest computation period shall continue to be computed at the Originator’s Maximum Permissible Rate until
the total amount of interest payable to the Originator shall equal the total amount of interest which would have been payable to the Originator if the total amount of interest had been computed without giving effect to the provisions of the
foregoing sentence. 
 12. Governing Law. THIS COMPANY NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CONFLICTS OF LAW PROVISIONS (OTHER THAN §5-1401 AND §5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL APPLY HERETO)). 

13. Captions. Paragraph captions used in this Company Note are for convenience only and shall not affect the meaning or interpretation
of any provision of this Company Note. 
 [REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK] 

  
 Exhibit A- 6 

 
  

 IN WITNESS WHEREOF, the Company has caused this
Company Note to be executed as of the date first written above. 
  

			
	TXU ENERGY RECEIVABLES COMPANY LLC

 
			
		
	By:	 	  

 
			
	    Name:	 	  

	    Title:	 	  

  
 Exhibit A- 7 

 
  

 Exhibit B 

FORM OF JOINDER AGREEMENT 

THIS JOINDER AGREEMENT, dated as of             ,
20            (this “Agreement”) is executed by             , a
            organized under the laws of             (the “Additional Originator”). 

BACKGROUND: 

A. TXU Energy Receivables Company LLC, a Delaware limited liability company (the “Company”) and the various entities from
time to time party thereto, as Originators (collectively, the “Originators”), have entered into that certain Purchase and Sale Agreement, dated as of August 21, 2018 (as amended, restated, supplemented or otherwise modified
through the date hereof, and as it may be further amended, restated, supplemented or otherwise modified from time to time, the “Purchase and Sale Agreement”). 

B. The Additional Originator desires to become an Originator pursuant to Section 4.3 of the Purchase and Sale Agreement. 

Now, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Additional Originator hereby agrees as follows: 
 Section 1. Definitions. Capitalized terms used in this
Agreement and not otherwise defined herein shall have the meanings assigned thereto in (or by reference in) the Purchase and Sale Agreement. 

Section 2. Transaction Documents. The Additional Originator hereby agrees that it shall be bound by all of the terms, conditions
and provisions of, and shall be deemed to be a party to (as if it were an original signatory to), the Purchase and Sale Agreement. From and after the later of the date hereof and the date that the Additional Originator has complied with all of the
requirements of Section 4.3 of the Purchase and Sale Agreement, the Additional Originator shall be an Originator for all purposes of the Purchase and Sale Agreement and all other Transaction Documents. The Additional Originator
hereby acknowledges that it has received copies of the Purchase and Sale Agreement and the other Transaction Documents. 
 Section 3.
Representations and Warranties. The Additional Originator hereby makes all of the representations and warranties set forth in Article V of the Purchase and Sale Agreement applicable to it as of the date hereof, as if such
representations and warranties were fully set forth herein. The Additional Originator hereby represents and warrants that its location (as defined in the UCC) is [    ], and the offices where the Additional Originator keeps all
of its records and Related Security are as follows: 
  

 
  

 
  

 

  
 Exhibit B- 1 

 
  

 Section 4. Miscellaneous. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CONFLICTS OF LAW PROVISIONS (OTHER THAN §5-1401 AND §5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL APPLY HERETO)). This Agreement is executed by the
Additional Originator for the benefit of the Company and its assigns, and each of the foregoing parties may rely hereon. This Agreement shall be binding upon, and shall inure to the benefit of, the Additional Originator and its successors and
permitted assigns 
 [SIGNATURE PAGES FOLLOW] 

  
 Exhibit B- 2 

 
  

 IN WITNESS WHEREOF, the undersigned has caused this Agreement to be executed by its duly
authorized officer as of the date and year first above written. 
  

			
	[NAME OF ADDITIONAL ORIGINATOR]

 
			
		
	By:	 	  

 
			
	    Name:	 	  

	    Title:	 	  

  

			
	Consented to:
	
	TXU ENERGY RECEIVABLES COMPANY LLC

			
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	
	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Administrator

			
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	TXU ENERGY RETAIL COMPANY LLC, as Servicer

			
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

  
 Exhibit B- 3

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