Document:

ex_191238.htm

Exhibit 10.2

 

  

 

 

 

PLEDGE AND SECURITY AGREEMENT

 

dated as of

June 22, 2020

 

Among

 

LEMAITRE VASCULAR, INC.,

as a Grantor,

 

and 

 

KEYBANK NATIONAL ASSOCIATION,

as the Administrative Agent,

 

for the benefit of

 

THE SECURED CREDITORS

 

 

 

 

 

 

 

TABLE OF CONTENTS

 

	 	 	Page
	
			ARTICLE I.

				
			DEFINITIONS AND TERMS

				
			1

			
	
			Section 1.01

				
			Defined Terms

				
			1

			
	
			Section 1.02

				
			Additional Defined Terms

				
			1

			
	
			Section 1.03

				
			Terms Generally

				
			7

			
	
			ARTICLE II.

				
			SECURITY INTEREST

				
			7

			
	
			Section 2.01

				
			Grant of Security Interest

				
			7

			
	
			Section 2.02

				
			Excluded Property

				
			8

			
	
			Section 2.03

				
			No Assumption of Liability

				
			9

			
	
			Section 2.04

				
			Power of Attorney

				
			9

			
	
			ARTICLE III.

				
			REPRESENTATIONS AND WARRANTIES

				
			9

			
	
			Section 3.01

				
			Title and Authority

				
			9

			
	
			Section 3.02

				
			Absence of Other Liens

				
			10

			
	
			Section 3.03

				
			Validity of Security Interest

				
			10

			
	
			Section 3.04

				
			Perfection of Security Interest under UCC

				
			10

			
	
			Section 3.05

				
			Perfection Certificates

				
			10

			
	
			Section 3.06

				
			Places of Business; Jurisdiction of Organization; Locations of Collateral

				
			10

			
	
			Section 3.07

				
			Pledged Collateral

				
			11

			
	
			Section 3.08

				
			Deposit Accounts

				
			11

			
	
			Section 3.09

				
			Securities Accounts

				
			11

			
	
			Section 3.10

				
			Status of Pledged Collateral

				
			11

			
	
			ARTICLE IV.

				
			GENERAL COVENANTS

				
			11

			
	
			Section 4.01

				
			No Other Liens; Defense of Title

				
			11

			
	
			Section 4.02

				
			Further Assurances; Filings and Recordings

				
			11

			
	
			Section 4.03

				
			Use and Disposition of the Collateral

				
			12

			
	
			Section 4.04

				
			Delivery or Marking of Chattel Paper; Other Actions

				
			12

			
	
			Section 4.05

				
			Authorization to File Financing Statements

				
			13

			
	
			Section 4.06

				
			Maintenance of Records

				
			13

			
	
			Section 4.07

				
			Perfection Certificates; Collateral Reports

				
			13

			
	
			Section 4.08

				
			Legal Status

				
			14

			
	
			Section 4.09

				
			Inspections and Verification

				
			14

			
	
			Section 4.10

				
			Insurance

				
			14

			
	
			Section 4.11

				
			Proceeds of Casualty Insurance, Condemnation or Taking

				
			14

			
	
			Section 4.12

				
			Commercial Tort Claims

				
			14

			
	
			Section 4.13

				
			Electronic Chattel Paper and Transferable Records

				
			15

			
	
			Section 4.14

				
			Letter-of-Credit Rights

				
			15

			
	
			Section 4.15

				
			Protective Advances by the Administrative Agent

				
			15

			

 

i

 

 

TABLE OF CONTENTS

(continued)

 

	 	 	Page
	
			ARTICLE V.

				
			ACCOUNTS AND COLLECTION OF ACCOUNTS

				
			16

			
	
			Section 5.01

				
			Deposit Accounts

				
			16

			
	
			Section 5.02

				
			Securities Accounts

				
			16

			
	
			Section 5.03

				
			Operation of Collateral Accounts

				
			16

			
	
			Section 5.04

				
			Collection of Accounts

				
			16

			
	
			ARTICLE VI.

				
			PLEDGED COLLATERAL

				
			16

			
	
			Section 6.01

				
			Delivery of Certificates and Instruments for Pledged Collateral

				
			16

			
	
			Section 6.02

				
			No Assumption of Liability

				
			17

			
	
			Section 6.03

				
			Registration of Collateral in the Name of the Administrative Agent

				
			17

			
	
			Section 6.04

				
			Appointment of Sub-Agents; Endorsements; etc

				
			18

			
	
			Section 6.05

				
			Voting Rights

				
			18

			
	
			Section 6.06

				
			Entitlement of Grantors to Cash Dividends and Distributions

				
			18

			
	
			Section 6.07

				
			Entitlement of Administrative Agent to Dividends and Distributions

				
			18

			
	
			Section 6.08

				
			Application of Dividends and Distributions

				
			19

			
	
			Section 6.09

				
			Turnover by Grantors

				
			19

			
	
			Section 6.10

				
			Registration under 1933 Act

				
			19

			
	
			Section 6.11

				
			Sale of Pledged Equity Interests in Connection with Enforcement

				
			19

			
	
			ARTICLE VII.

				
			Intellectual property

				
			20

			
	
			Section 7.01

				
			Intellectual Property

				
			20

			
	
			Section 7.02

				
			Collateral Assignments; Further Assurances

				
			20

			
	
			Section 7.03

				
			Licenses and Assignments

				
			20

			
	
			Section 7.04

				
			Infringements

				
			20

			
	
			Section 7.05

				
			Trademarks

				
			21

			
	
			Section 7.06

				
			Patents

				
			21

			
	
			Section 7.07

				
			Other Patents and Copyrights

				
			21

			
	
			Section 7.08

				
			Remedies Relating to Intellectual Property

				
			21

			
	
			ARTICLE VIII.

				
			REMEDIES UPON OCCURRENCE OF EVENT OF DEFAULT

				
			22

			
	
			Section 8.01

				
			Remedies Generally

				
			22

			
	
			Section 8.02

				
			Disposition of the Collateral

				
			23

			
	
			Section 8.03

				
			Grant of License to Use Intellectual Property

				
			24

			
	
			Section 8.04

				
			Waiver of Claims

				
			24

			
	
			Section 8.05

				
			Application of Proceeds

				
			24

			
	
			Section 8.06

				
			Remedies Cumulative

				
			25

			
	
			Section 8.07

				
			Discontinuance of Proceedings

				
			25

			
	
			Section 8.08

				
			Purchasers of Collateral

				
			25

			

 

ii

 

 

TABLE OF CONTENTS

(continued)

 

	 	 	Page
	
			ARTICLE IX.

				
			MISCELLANEOUS

				
			25

			
	
			Section 9.01

				
			Notices

				
			25

			
	
			Section 9.02

				
			Entire Agreement

				
			26

			
	
			Section 9.03

				
			Obligations Absolute

				
			26

			
	
			Section 9.04

				
			Successors and Assigns

				
			26

			
	
			Section 9.05

				
			Headings Descriptive

				
			26

			
	
			Section 9.06

				
			Severability

				
			27

			
	
			Section 9.07

				
			Enforcement Expenses, etc

				
			27

			
	
			Section 9.08

				
			Release of Portions of Collateral

				
			27

			
	
			Section 9.09

				
			Termination

				
			27

			
	
			Section 9.10

				
			Administrative Agent

				
			27

			
	
			Section 9.11

				
			Only Administrative Agent to Enforce on Behalf of Secured Creditors

				
			28

			
	
			Section 9.12

				
			Other Creditors, etc

				
			28

			
	
			Section 9.13

				
			Counterparts

				
			28

			
	
			Section 9.14

				
			Amendments; Additional Grantors

				
			28

			
	
			Section 9.15

				
			Separate Actions

				
			28

			
	
			Section 9.16

				
			Full Recourse Obligations; Effect of Fraudulent Transfer Laws

				
			29

			
	
			Section 9.17

				
			Governing Law; Venue; Waiver of Jury Trial

				
			29

			
	
			Section 9.18

				
			Acknowledgement Regarding Any Support QFCs

				
			29

			

 

SCHEDULES

 

	
			Schedule 1

				
			Pledged Collateral

				 

 

EXHIBITS

 

	
			Exhibit A

				
			Form of Security Agreement Joinder

			
	
			Exhibit C-1

				
			Form of Collateral Assignment of Copyrights

			
	
			Exhibit C-2

				
			Form of Collateral Assignment of Patents

			
	
			Exhibit C-3

				
			Form of Collateral Assignment of Trademarks

			

 

iii

 

 

THIS PLEDGE AND SECURITY AGREEMENT, dated as of June 22, 2020 (as the same may be amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), is among LeMaitre Vascular, Inc., a Delaware corporation (the “Borrower”; together with each Additional Grantor (as defined below) that becomes a party hereto pursuant to Section 9.14, collectively, the “Grantors” and, individually, each a “Grantor”), and KeyBank National Association, as administrative agent (the “Administrative Agent”), for the benefit of the Secured Creditors (as defined below):

 

RECITALS:

 

(1)     Except as otherwise defined herein, terms used herein and defined in the Credit Agreement (as defined below) shall be used herein as therein defined. Certain terms used herein are defined in Section 1.01 hereof.

 

(2)     This Agreement is made pursuant to the Credit Agreement, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the financial institutions named as lenders therein (together with their successors and assigns, each a “Lender,” and collectively, the “Lenders”), and the Administrative Agent.

 

(3)     It is a condition precedent to the making of Loans and LC Issuances under the Credit Agreement that each Grantor shall have executed and delivered to the Administrative Agent this Agreement.

 

(4)     Each Subsidiary Grantor (as defined below) is a direct or indirect Subsidiary of Borrower.

 

(5)     Each Grantor will obtain benefits from the Credit Agreement and, accordingly, desires to execute this Agreement in order to satisfy the condition described above and to induce the Secured Creditors to extend credit pursuant to the Credit Agreement, the other Loan Documents and the Designated Hedge Documents.

 

NOW, THEREFORE, in consideration of the benefits accruing to each Grantor, the receipt and sufficiency of which are hereby acknowledged, each Grantor hereby makes the following representations and warranties to the Administrative Agent and to the other Secured Creditors and hereby covenants and agrees with the Administrative Agent and to the other Secured Creditors as follows:

 

ARTICLE I.

DEFINITIONS AND TERMS

 

Section 1.01     Defined Terms. Capitalized terms used in this Agreement and not otherwise defined in this Agreement shall have the meanings given to such terms in the Credit Agreement. Unless otherwise defined herein, all terms used herein and defined in the UCC shall have the same definitions herein as specified therein; provided, however, that if a term is defined in Article 9 of the UCC differently than in another Article of the UCC, the term shall have the meaning specified in Article 9 of the UCC.

 

Section 1.02     Additional Defined Terms. The following terms shall have the meanings herein specified unless the context otherwise requires:

 

“Accounts Receivable” means (i) all accounts, now existing or hereafter arising; and (ii) without limitation of the foregoing, in any event including, but not limited to, (A) all rights to payment, whether or not earned by performance, for goods or other property (other than money) that has been or is to be sold, consigned, leased, licensed, assigned or otherwise disposed of, for services rendered or to be rendered, for a policy of insurance issued or to be issued, for a suretyship obligation incurred or to be incurred, for energy provided or to be provided, or for the use or hire of a vessel under a charter or other contract whether due or to become due, whether or not it has been earned by performance, and whether now existing or hereafter acquired or arising in the future, including Accounts Receivable from employees and Affiliates of any Grantor, (B) all rights evidenced by an account, invoice, purchase order, requisition, bill of exchange, note, contract, security agreement, lease, chattel paper, or any evidence of indebtedness or security related to the foregoing, (C) all security pledged, assigned, hypothecated or granted to or held by a Grantor to secure the foregoing, including all supporting obligations, (D) all guarantees, letters of credit, banker’s acceptances, drafts, endorsements, credit insurance and indemnifications on, for or of, any of the foregoing, including all rights to make drawings, claims or demands for payment thereunder, and (E) all powers of attorney for the execution of any evidence of indebtedness, guaranty, letter of credit or security or other writing in connection therewith.

 

 

 

 

 

“Additional Grantor” has the meaning provided in Section 9.14.

 

“Administrative Agent” has the meaning provided in the first paragraph of this Agreement.

 

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

 

“Borrower” has the meaning provided in the first paragraph of this Agreement.

 

“Collateral” has the meaning provided in Section 2.01 hereof.

 

“Collateral Account” means any Controlled Deposit Account or Controlled Securities Account.

 

“Collateral Assignment Agreement” means a Collateral Assignment of Patents, a Collateral Assignment of Trademarks or a Collateral Assignment of Copyrights.

 

“Collateral Assignment of Copyrights” means a Collateral Assignment of Copyrights in the form of Exhibit C-1 hereto, or otherwise in form and substance acceptable to the Administrative Agent.

 

“Collateral Assignment of Patents” means a Collateral Assignment of Patents in the form of Exhibit C-2 hereto, or otherwise in form and substance acceptable to the Administrative Agent.

 

“Collateral Assignment of Trademarks” means a Collateral Assignment of Trademarks in the form of Exhibit C-3 hereto, or otherwise in form and substance acceptable to the Administrative Agent.

 

“Contract” means any contract, agreement or other writing between a Grantor and one or more additional parties.

 

“Contract Rights” means all rights of a Grantor under or in respect of a Contract, including, without limitation, all rights to payment, damages, liquidated damages, and enforcement.

 

“Control” means (i) when used with respect to any security or security entitlement, the meaning specified in Section 8-106 of the UCC; and (ii) when used with respect to any deposit account, the meaning specified in Section 9-104 of the UCC.

 

“Control Agreement” means any Deposit Account Control Agreement or Securities Account Control Agreement or any other control agreement delivered in connection with this Agreement.

 

-2-

 

 

“Controlled Deposit Account” means a deposit account (i) that is subject to a Deposit Account Control Agreement or (ii) as to which the Administrative Agent is the Depositary Bank’s “customer” (as defined in Section 4-104 of the UCC).

 

“Controlled Securities Account” means a securities account that (i) is maintained in the name of a Grantor at an office of a Securities Intermediary located in the United States of America and (ii) together with all financial assets credited thereto and all related security entitlements, is subject to a Securities Account Control Agreement.

 

“Copyrights” means any copyright to which a Grantor now or hereafter has title, as well as any application for a copyright hereafter made by such Grantor, and including any and all agreements, licenses and covenants providing for the granting of any right in or to Copyrights or otherwise providing for a covenant not to sue (whether the applicable Grantor is licensee or licensor thereunder) regarding a copyright.

 

“Credit Agreement” has the meaning provided in the Recitals of this Agreement.

 

“Deposit Account Control Agreement” means, with respect to a deposit account of a Grantor, a Deposit Account Control Agreement in form and substance satisfactory to the Administrative Agent, among such Grantor, the Administrative Agent and the relevant Depositary Bank.

 

“Depositary Bank” means a bank at which a deposit account of any Grantor is maintained.

 

“Designated Hedge Document” means (i) each Designated Hedge Agreement to which the Borrower or any other Grantor is now or may hereafter become a party, and (ii) each confirmation, transaction statement or other document executed and delivered in connection therewith to which the Borrower or any other Grantor is now or may hereafter become a party.

 

“Designated Hedge Document Obligations” means all obligations and liabilities owing by the Borrower or any other Grantor under all existing and future Designated Hedge Documents, in all cases whether now existing, or hereafter incurred or arising, including any such amounts incurred or arising during the pendency of any bankruptcy, insolvency, reorganization, receivership or similar proceeding, regardless of whether allowed or allowable in such proceeding or subject to an automatic stay under Section 362(a) of the Bankruptcy Code. Notwithstanding the foregoing, Designated Hedge Document Obligations shall not include any Excluded Swap Obligations.

 

“Equity Interests” means (i) all of the issued and outstanding shares of all classes of capital stock of any corporation at any time directly owned by any Grantor and the certificates representing such capital stock, (ii) all of the membership interests in a limited liability company at any time owned or held by any Grantor, and (iii) all of the equity interests in any other form of organization at any time owned or held by any Grantor.

 

“Event of Default” means any Event of Default under, and as defined in, the Credit Agreement.

 

“Excluded Deposit Account” has the meaning given to such term in Section 5.01(a) hereof.

 

“Excluded Property” has the meaning given to such term in Section 2.02 hereof.

 

“Governing Documents” means all agreements and instruments evidencing or relating to investments in or ownership, voting or disposition of, any of the Pledged Collateral.

 

-3-

 

 

“Grantor” and “Grantors” have the meaning provided in the first paragraph of this Agreement.

 

“Intellectual Property” means (i) all Trademarks, together with the registrations and right to all renewals thereof, and the goodwill of the business of any Grantor symbolized by the Trademarks; (ii) all Patents; (iii) all Copyrights; (iv) all computer programs and software applications and source codes of such Grantor and all intellectual property rights therein and all other Proprietary Information of such Grantor, including, but not limited to, Trade Secrets; and (v) all Permits.

 

“Intercompany and Third-Party Notes” means all promissory notes, instruments, debentures, bonds, evidences of indebtedness and similar securities from time to time issued to, or held by, any Grantor.

 

“Inventory” means (i) all inventory; and (ii) without limitation of the foregoing, and in all cases including, but not limited to, all merchandise and other goods held for sale or lease, or furnished or to be furnished under contracts for service, including, without limitation, raw materials, works in process, finished goods, products made or processed, intermediates, packing materials, shipping materials, labels, semi-finished inventory, scrap inventory, spare parts inventory, manufacturing supplies, consumable supplies, other substances commingled therewith or added thereto, and all such goods that have been returned, reclaimed, repossessed or exchanged.

 

“Issuer” means the issuer of any Pledged Collateral.

 

“Lender” and “Lenders” each has the meaning provided in the Recitals of this Agreement.

 

“Notice of Exclusive Control” means a “Notice of Exclusive Control” as defined in each of the Control Agreements.

 

“Patents” means any patent to which a Grantor now or hereafter has title, as well as any application for a patent now or hereafter made by a Grantor, and including any and all agreements, licenses and covenants providing for the granting of any right in or to Patents or otherwise providing for a covenant not to sue (whether the applicable Grantor is licensee or licensor thereunder) regarding a Patent.

 

“Perfection Certificate” means a certificate substantially in the form of the Perfection Certificate delivered on the Closing Date, completed and supplemented with the schedules contemplated thereby to the reasonable satisfaction of the Administrative Agent, and signed by an Authorized Officer of the applicable Grantor delivering the same.

 

“Permits” means all licenses, permits, rights, orders, variances, franchises or authorizations of or from any Governmental Authority.

 

“Pledged Collateral” means the Pledged Equity Interests and the Pledged Debt.

 

“Pledged Debt” means all of the Intercompany and Third-Party Notes presently owned or hereafter acquired from time to time by any Grantor, and all interest, cash, instruments and other property hereafter from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the foregoing.

 

“Pledged Entity” means the Issuer of any Pledged Equity Interests.

 

“Pledged Equity Interests” means all of the Equity Interests now owned or hereafter acquired by each Grantor, and all of such Grantor’s other rights, title and interests in, or in any way related to, each Pledged Entity to which any of such Equity Interests relate, including, without limitation: (i) all additional Equity Interests hereafter from time to time acquired by such Grantor in any manner, together with all dividends, cash, instruments and other property hereafter from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such Equity Interests and in all profits, losses and other distributions to which such Grantor shall at any time be entitled in respect of any such Equity Interest; (ii) all other payments due or to become due to such Grantor in respect of any such Equity Interest, whether under any partnership agreement, limited liability company agreement, other agreement or otherwise, whether as contractual obligations, damages, insurance proceeds or otherwise; (iii) all of such Grantor’s claims, rights, powers, privileges, authority, puts, calls, options, security interests, liens and remedies, if any, under any partnership agreement, limited liability company agreement, other agreement or at law or otherwise in respect of any such Equity Interest; (iv) all present and future claims, if any, of such Grantor against any such Pledged Entity for moneys loaned or advanced, for services rendered or otherwise; (v) all of such Grantor’s rights under any partnership agreement, limited liability company agreement, other agreement or at law to exercise and enforce every right, power, remedy, authority, option and privilege of such Grantor relating to any such Equity Interest; (vi) all other property hereafter delivered in substitution for or in addition to any of the foregoing; (vii) all certificates and instruments representing or evidencing any of the foregoing; and (viii) all cash, securities, interest, distributions, dividends, rights and other property at any time and from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all thereof.

 

-4-

 

 

“Proceeds” means (i) all proceeds; and (ii) without limitation of the foregoing and in all cases, including, but not limited to, (A) whatever is acquired upon the sale, lease, license, exchange, or other disposition of any Collateral, (B) whatever is collected on, or distributed on account of, any Collateral, (C) rights arising out of any Collateral, (D) claims arising out of the loss or nonconformity of, defects in, or damage to any Collateral, (E) claims and rights to any proceeds of any insurance, indemnity, warranty or guaranty payable to a Grantor (or the Administrative Agent, as assignee, loss payee or an additional insured) with respect to any of the Collateral, (F) claims and rights to payments (in any form whatsoever) made or due and payable to a Grantor from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the Collateral by any Governmental Authority (or any Person acting under color of Governmental Authority), (G) all cash, money, checks and negotiable instruments received or held on behalf of the Administrative Agent pursuant to any lockbox or similar arrangement relating to the payment of Accounts Receivable or other Collateral, and (H) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral.

 

“Proprietary Information” means all information and know-how worldwide, including, without limitation, technical data; manufacturing data; research and development data; data relating to compositions, processes and formulations, manufacturing and production know-how and experience; management know-how; training programs; manufacturing, engineering and other drawings; specifications; performance criteria; operating instructions; maintenance manuals; technology; technical information; software; computer programs; engineering and computer data and databases; design and engineering specifications; catalogs; promotional literature; financial, business and marketing plans; and inventions and invention disclosures.

 

“Secured Creditors” means, collectively, the Administrative Agent, the Lenders, the Swing Line Lender, each LC Issuer, each Designated Hedge Creditor and the respective successors and assigns of each of the foregoing.

 

“Secured Obligations” means, collectively, all Obligations, and  any and all sums advanced by the Administrative Agent in order to preserve any of the Collateral or to preserve or protect its security interest in such Collateral, including, without limitation, sums advanced to pay or discharge insurance premiums, taxes, Liens and claims; and in the event of any proceeding for the collection or enforcement of any indebtedness, obligations, or liabilities referred to herein, the expenses of re-taking, holding, preparing for sale or lease, selling or otherwise disposing of or realizing on any of the Collateral, or of any exercise by the Administrative Agent of its rights hereunder in respect of any Grantor or any of the Collateral, together with attorneys’ fees and court costs. Notwithstanding the foregoing, Secured Obligations shall not include any Excluded Swap Obligations.

 

-5-

 

 

“Securities Account Control Agreement” means, with respect to a securities account of a Grantor, a Securities Account Control Agreement in form and substance satisfactory to the Administrative Agent, among the relevant Securities Intermediary, such Grantor and the Administrative Agent.

 

“Securities Act” has the meaning provided in Section 6.10 hereof.

 

“Securities Intermediary” means a clearing corporation or a Person, including, without limitation, a bank or broker, that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity.

 

“Security Agreement Joinder” means a Security Agreement Joinder, substantially in the form of Exhibit A hereto, or otherwise in form and substance acceptable to the Administrative Agent.

 

“Significant Intellectual Property” has the meaning provided in Section 7.04 of this Agreement.

 

“Subsidiary Grantor” means each Grantor other than the Borrower.

 

“Trademarks” means any trademarks and service marks now held or hereafter acquired by a Grantor, any unregistered marks used by a Grantor and trade dress including logos and/or designs in connection with which any of these registered or unregistered marks are used, and including any and all agreements, licenses and covenants providing for the granting of any right in or to Trademarks or otherwise providing for a covenant not to sue or permitting coexistence (whether the applicable Grantor is licensee or licensor thereunder) regarding a Trademark.

 

“Trade Secrets” means any secretly held existing engineering and other data, information, production procedures and other know-how relating to the design, manufacture, assembly, installation, use, operation, marketing, sale and servicing of any products or business of a Grantor worldwide whether written or not written.

 

“UCC” means, unless the context indicates otherwise, the Uniform Commercial Code, as at any time adopted and in effect in the State of New York from time to time, specifically including and taking into account all amendments, supplements, revisions and other modifications thereto.

 

Section 1.03     Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, and (d) unless otherwise specified, all references herein to Sections, Schedules, Annexes and Exhibits shall be construed to refer to Sections of, and Schedules, Annexes and Exhibits to, this Agreement.

 

-6-

 

 

ARTICLE II.

SECURITY INTEREST

 

Section 2.01     Grant of Security Interest. As security for the prompt and complete payment and performance when due of all of the Secured Obligations, each Grantor does hereby pledge, sell, assign and transfer unto the Administrative Agent, and does hereby grant to the Administrative Agent, for the benefit of the Secured Creditors, a continuing security interest in all of the right, title and interest of such Grantor in, to and under all of the following of each Grantor, whether now existing or hereafter from time to time arising or acquired and wherever located (collectively, the “Collateral”):

 

(i)     all accounts, including, without limitation, each and every Account Receivable;

 

(ii)     all goods;

 

(iii)     all Inventory;

 

(iv)     all machinery and equipment;

 

(v)     all documents;

 

(vi)     all instruments;

 

(vii)     all chattel paper;

 

(viii)     all money;

 

(ix)     all cash or cash equivalents;

 

(x)     all deposit accounts, including, but not limited to, all Controlled Deposit Accounts, together with all monies, securities and instruments at any time deposited in any such deposit account or otherwise held for the credit thereof;

 

(xi)     all securities accounts, together with all financial assets credited therein from time to time, and all financial assets, monies, securities, cash and other property held therein or credited thereto;

 

(xii)     all investment property;

 

(xiii)     all fixtures;

 

(xiv)     all as-extracted collateral, including, without limitation, all minerals;

 

(xv)     all general intangibles, including, but not limited to, all Contract Rights;

 

(xvi)     all commercial tort claims;

 

(xvii)     all Intellectual Property;

 

-7-

 

 

(xviii)     all insurance;

 

(xix)     all letters of credit and letter-of-credit rights;

 

(xx)     all payment intangibles;

 

(xxi)     all promissory notes;

 

(xxii)     all supporting obligations;

 

(xxiii)     all Permits;

 

(xxiv)     all Pledged Collateral;

 

(xxv)     all other items, kinds and types of personal property, tangible or intangible, of whatever nature, and regardless of whether the creation or perfection or effect of perfection or non-perfection of a security interest therein is governed by the UCC of any particular jurisdiction or by any other applicable treaty, convention, statute, law or regulation of any applicable jurisdiction;

 

(xxvi)     all additions, modifications, alterations, improvements, upgrades, accessions, components, parts, appurtenances, substitutions and/or replacements of, to or for any of the foregoing; and

 

(xxvii)     all Proceeds and products of any and all of the foregoing.

 

Section 2.02     Excluded Property. Notwithstanding anything in Section 2.01 hereof to the contrary, the term Collateral shall not include (hereinafter, collectively, the “Excluded Property”): (a) any Leasehold and any fee-owned real property with a fair market value of less than $5,000,000 in the aggregate; (b) any Equity Interest in a CFC or CFC Holdco to the extent the same represents, for all Grantors in the aggregate, more than 65% of the total combined voting power of all classes of capital stock or similar equity interests of such CFC of CFC Holdco which are entitled to vote; (c) governmental licenses, state or local franchises, charters and authorizations and any other property and assets to the extent prohibited or restricted thereby, or such security interest is restricted by, applicable Laws (including, without limitation, rules and regulations of any Governmental Authority or agency) or the pledge or creation of a security interest in which would require governmental consent, approval, license or authorization (solely to the extent such consent has not been obtained after the use of commercially reasonable efforts), other than to the extent such prohibition or limitation is rendered ineffective under the UCC or other applicable Law notwithstanding such prohibition (but excluding proceeds of any such governmental license), or otherwise require consent thereunder (after giving effect to the applicable anti-assignment provisions of the UCC or other applicable law); (d) leases, licenses, permits or agreements with respect to any Purchase Money Indebtedness (or similar arrangement) to the extent that, and so long as, a grant of a security interest therein, or in the property or assets that secure the underlying obligations with respect thereto (i) is prohibited by applicable Law other than to the extent such prohibition is rendered ineffective under the UCC or other applicable Law notwithstanding such prohibition or (ii) would violate or invalidate such lease, license, permit or agreement, or create a right of termination in favor of, or require the consent of, any other party thereto (other than the Borrower or a Subsidiary) (in each case, after giving effect to the relevant provisions of the UCC or other applicable Laws), in each case, other than the proceeds thereof, and only to the extent that and for so long as such limitation on such pledge or security interest is otherwise permitted hereunder; (e) Margin Stock; (f) any intent-to-use trademark application prior to the filing of a “Statement of Use” or “Amendment to Allege Use” with respect thereto, to the extent, if any, that, and solely during the period, if any, in which the grant of a security interest therein would impair the validity or enforceability of such intent-to-use trademark application under applicable federal law; (g) motor vehicles and other assets subject to certificates of title; and (h) particular assets if, and for so long as, in each case, reasonably agreed by the Administrative Agent, the cost of creating or perfecting such pledges or security interests in such assets exceed the practical benefits to be obtained by the Secured Creditors therefrom.

 

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Section 2.03     No Assumption of Liability. The security interest hereunder of any Grantor is granted as security only and shall not subject the Administrative Agent or any other Secured Creditor to, or in any way alter or modify, any obligation or liability of such Grantor with respect to or arising out of any of the Collateral.

 

Section 2.04     Power of Attorney. Each Grantor hereby irrevocably constitutes and appoints the Administrative Agent its true and lawful agent and attorney-in-fact, and in such capacity the Administrative Agent shall have, without any further action required by or on behalf of any Grantor, the right, with full power of substitution, in the name of such Grantor or otherwise, for the use and benefit of the Administrative Agent and the other Secured Creditors: (a) to receive, endorse, present, assign, deliver and/or otherwise deal with any and all notes, acceptances, letters of credit, checks, drafts, money orders, or other evidences of payment relating to the Collateral of such Grantor or any part thereof; (b) to demand, collect, receive payment of, and give receipt for and give credits, allowances, discounts, discharges, releases and acquittances of and for any or all of the Collateral of such Grantor; (c) to sign the name of such Grantor on any invoice or bill of lading relating to any of the Collateral of such Grantor; (d) to send verifications of any or all of the Accounts Receivable of such Grantor to its account debtors; (e) to commence and prosecute any and all suits, actions or proceedings at law or in equity in or before any court or other tribunal (including any arbitration proceedings) to collect or otherwise realize on all or any of the Collateral of such Grantor, or to enforce any rights of such Grantor in respect of any of its Collateral; (f) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to any or all of the Collateral of such Grantor; (g) to notify, or require such Grantor to notify or cause to be notified, its account debtors to make payment directly to the Administrative Agent or to a Controlled Deposit Account; or (h) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with any or all of the Collateral of such Grantor, and to do all other acts and things necessary or appropriate to carry out the intent and purposes of this Agreement, as fully and completely as though the Administrative Agent were the absolute owner of the Collateral of such Grantor for all purposes; provided, however, that except upon the occurrence and during the continuance of an Event of Default, the Administrative Agent shall not exercise the powers granted hereby.

 

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

 

Each Grantor represents and warrants to the Administrative Agent and the other Secured Creditors, which representations and warranties shall survive the execution and delivery of this Agreement until the termination of this Agreement in accordance with Section 9.09, as follows:

 

Section 3.01     Title and Authority. Such Grantor has (i) good, valid and unassailable title to all tangible items owned by it and constituting any portion of the Collateral with respect to which it has purported to grant the security interest, and good, valid and unassailable rights in all other Collateral with respect to which it has purported to grant the security interest, and (ii) full power and authority to grant to the Administrative Agent the security interest in such Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement, without the consent or approval of any other Person other than any consent or approval that has been obtained.

 

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Section 3.02     Absence of Other Liens.

 

(a)     There is no financing statement (or similar statement or instrument of registration under the law of any jurisdiction) covering or purporting to cover any interest of any kind of such Grantor in the Collateral, except for any filings or recordings made in connection with any Permitted Liens.

 

(b)     Such Grantor is, and as to any Collateral acquired by it from time to time after the date hereof such Grantor will be, the owner of all of its Collateral free and clear of any Lien, and the security interest of such Grantor in its Collateral is and will be superior and prior to any other security interest or other Lien, except for Permitted Liens.

 

Section 3.03     Validity of Security Interest. The security interest of such Grantor constitutes a legal, valid and enforceable first priority (except as to any Permitted Liens) security interest in all of the Collateral of such Grantor, securing the payment and performance of the Secured Obligations.

 

Section 3.04     Perfection of Security Interest under UCC.

 

(a)     Subject to Section 6.16 of the Credit Agreement, all notifications and other actions, including, without limitation, (i) all deposits of certificates and instruments evidencing any Collateral (duly endorsed or accompanied by appropriate instruments of transfer), (ii) all notices to and acknowledgments of any bailee or other Person, (iii) all acknowledgments and agreements respecting the right of the Administrative Agent to obtain control with respect to any Collateral, and (iv) all filings, registrations and recordings, which are (x) required by the terms of this Agreement to have been given, made, obtained, done and accomplished by a Grantor, and (y) necessary to create, preserve, protect and perfect the security interest granted by such Grantor to the Administrative Agent hereby in respect of its portion of the Collateral, have been given, made, obtained, done and accomplished.

 

(b)     Notwithstanding anything else set forth in the Loan Documents to the contrary, in no event shall any Grantor be required to take perfection actions with respect to any Collateral located in foreign jurisdictions or otherwise be required to enter into or obtain agreements governed by foreign law.

 

(c)     After giving effect to all such actions, the security interest granted by such Grantor to the Administrative Agent pursuant to this Agreement in and to its portion of the Collateral will be perfected to the maximum extent a security interest in such Grantor’s portion of the Collateral can be perfected under the UCC of any applicable jurisdiction.

 

Section 3.05     Perfection Certificates. Each Perfection Certificate delivered by any Grantor (whether delivered pursuant to Section 4.07(a) of this Agreement or pursuant to the Credit Agreement), and all information set forth therein, is true and correct in all respects, except to the extent that such Perfection Certificate has been supplemented or replaced in each case in accordance with this Agreement or the other Loan Documents.

 

Section 3.06     Places of Business; Jurisdiction of Organization; Locations of Collateral. Each Grantor represents and warrants that (a) the principal place of business of such Grantor, or its chief executive office, if it has more than one place of business, is located at the address indicated on the most recent Perfection Certificate executed and delivered by such Grantor to the Administrative Agent; (b) the jurisdiction of formation or organization of such Grantor is set forth on the most recent Perfection Certificate executed and delivered by such Grantor to the Administrative Agent; (c) the U.S. Federal Tax I.D. Number and, if applicable, the organizational identification number of such other Grantors, is set forth on the most recent Perfection Certificate executed and delivered by such Grantor to the Administrative Agent; and (d) all Inventory and equipment of such Grantor is located at one of the locations set forth on the most recent Perfection Certificate executed and delivered by such Grantor to the Administrative Agent. Such Grantor does not, at and as of the date hereof, conduct business in any jurisdiction, and except as set forth in the most recent Perfection Certificate delivered to the Administrative Agent, in the preceding five years, such Grantor and any predecessors in interest have not conducted business in any jurisdiction, under any trade name, fictitious name or other name (including, without limitation, any names of divisions or predecessor entities), except the current legal name of such Grantor and such other trade, fictitious and other names as are listed on the most recent Perfection Certificate executed and delivered by such Grantor to the Administrative Agent.

 

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Section 3.07     Pledged Collateral. Schedule 1 hereto sets forth a true and complete list of all of the Pledged Collateral owned by each Grantor as of the Closing Date.

 

Section 3.08     Deposit Accounts. The most recent Perfection Certificate delivered by each Grantor to the Administrative Agent sets forth a true and complete list of all deposit accounts owned by each Grantor or in which any such Grantor’s Collateral is held. To the extent required pursuant to Section 5.01 of this Agreement, all of the deposit accounts of each Grantor are, and all cash and money of each Grantor is held in, Controlled Deposit Accounts.

 

Section 3.09     Securities Accounts. The most recent Perfection Certificate delivered by each Grantor to the Administrative Agent sets forth a true and complete list of all securities accounts owned by each Grantor or in which any such Grantor’s Collateral is held. Unless otherwise permitted pursuant to Section 5.02 of this Agreement, no Grantor has any securities accounts or otherwise owns or is entitled to any financial assets or securities entitlements other than Controlled Securities Accounts and financial assets or securities entitlements that are subject to a Controlled Securities Account.

 

Section 3.10     Status of Pledged Collateral. All of the Pledged Equity Interests of each Grantor hereunder have been duly and validly issued and are fully paid and non-assessable. All of the Pledged Debt of each Grantor is the legal, valid and binding obligation of the Issuer thereof, enforceable in accordance with its terms. Except as permitted pursuant to the Credit Agreement, no Grantor has any obligation to make any further or additional loans or advances to, or purchases of securities from, any Issuer with respect to any of the Pledged Debt. No Grantor is in default in the payment of any portion of any mandatory capital contribution, cash call, or other funding, if any, required to be made under any Governing Document relating to any of the Pledged Equity Interests of such Grantor. No Grantor is in violation or default of any other material provisions of any such Governing Document. No Pledged Collateral of any Grantor is subject to any defense, offset or counterclaim, nor have any of the foregoing been asserted or alleged against such Grantor by any Person.

 

ARTICLE IV.

GENERAL COVENANTS

 

Section 4.01     No Other Liens; Defense of Title. No Grantor will make or grant, or suffer or permit to exist, any Lien on any of its Collateral, other than Permitted Liens. Each Grantor, at its sole cost and expense, will take any and all actions reasonably necessary and appropriate to defend title to its Collateral against any and all Persons and to defend the validity, enforceability, perfection, effectiveness and priority of the security interest of the Administrative Agent therein against any Lien other than Permitted Liens.

 

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Section 4.02     Further Assurances; Filings and Recordings.

 

(a)     Each Grantor, at its sole cost and expense, will duly execute, acknowledge and deliver all such agreements, instruments and other documents and take all such actions (including, without limitation, (i) physically pledging instruments, documents, promissory notes, chattel paper and certificates evidencing any investment property or any of the Pledged Collateral with the Administrative Agent, (ii) obtaining Securities Account Control Agreements and Deposit Account Control Agreements in accordance with this Agreement, (iii) obtaining from other Persons lien waivers and bailee letters, (iv) obtaining from other Persons agreements evidencing the exclusive control and dominion of the Administrative Agent over any of the Collateral, in instances where obtaining control over such Collateral is the only or best method of perfection, and (v) making filings, recordings and registrations), as the Administrative Agent may reasonably from time to time instruct in writing to better assure, preserve, protect and perfect the security interest of the Administrative Agent in the Collateral of such Grantor, and the rights and remedies of the Administrative Agent hereunder, or otherwise to further effectuate the intent and purposes of this Agreement and to carry out the terms hereof.

 

(b)     Each Grantor, at its sole cost and expense, will pay all taxes, fees and charges associated with and applicable to the filing, recording, registration and publishing of all UCC financing statements and other documents, agreements, and registrations by the Administrative Agent necessary to perfect the Liens granted to the Administrative Agent pursuant to this Agreement, and all taxes, fees, and charges of any re-filing, re-recording, re-registration and re-publishing of any such UCC financing statements, or other documents, agreements or registrations.

 

Section 4.03     Use and Disposition of the Collateral.

 

(a)     Unless and until an Event of Default shall have occurred and be continuing and the Administrative Agent shall have notified the Grantors thereof in writing that the rights of any or all of the Grantors under this Section 4.03(a) are suspended during the continuance of such Event of Default, each Grantor may use and dispose of its Collateral in any lawful manner not inconsistent with the provisions of this Agreement, the Credit Agreement or any other Loan Document.

 

(b)     No Grantor will consign any of its Inventory to any Person unless all filings of financing statements under the UCC and other actions and filings, registrations and recordings required under other applicable laws have been made in order to perfect the rights and interests of such Grantor in the consigned Inventory against creditors of and purchasers from the consignee and such financing statements have been assigned to the Administrative Agent for the benefit of the Secured Creditors.

 

(c)     No Grantor will permit any of its Inventory or equipment having a value in excess of $3,000,000 to be in the possession or control of any single warehouseman, bailee, processor, supplier or agent at any time, without first complying with the requirements of Section 6.10(e) of the Credit Agreement.

 

Section 4.04     Delivery or Marking of Chattel Paper; Other Actions. Without limitation of any of the provisions of Section 4.02(a) or Section 4.13 hereof:

 

(a)     If any amount payable to a Grantor under or in connection with any of the Collateral shall be or become evidenced by any chattel paper, document, promissory note or instrument with a face value in excess of $2500,00 individually, such Grantor will, unless otherwise agreed to in writing by the Administrative Agent, cause such chattel paper, document, promissory note or instrument to be delivered to the Administrative Agent and pledged as part of the Collateral hereunder, accompanied by any appropriate instruments or endorsements of transfer. In the case of any such chattel paper, the Administrative Agent may require, in lieu of the delivery thereof to the Administrative Agent, that the writings evidencing the chattel paper be legended to reflect the security interest of the Administrative Agent therein, all in a manner acceptable to the Administrative Agent.

 

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(b)     If at any time any Grantor shall take and perfect a security interest in any property of an account debtor, as security for the Accounts Receivable owed by such account debtor and/or any of its Affiliates, or take and perfect a security interest arising out of the consignment to any Person of any Inventory or other Collateral, such Grantor shall, if requested by the Administrative Agent (which request may be made by the Administrative Agent only upon the written instructions of the Required Lenders, issued by the Required Lenders, in their sole respective discretion), promptly execute and deliver to the Administrative Agent a separate assignment of all financing statements and other filings made to perfect the same. Such separate assignment need not be filed of public record unless necessary to continue the perfected status of the security interest of such Grantor against creditors of any transferees from the account debtor or consignee.

 

Section 4.05     Authorization to File Financing Statements. Each Grantor irrevocably authorizes the Administrative Agent, it’s agents or assigns at any time and from time to time to file in any jurisdiction any initial financing statements and all amendments thereto that (a) indicate the Collateral (i) as “all assets” or “all personal property” of such Grantor or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of the UCC, but specifically excluding the Excluded Property in any such description of the Collateral; or (ii) as being of an equal or lesser scope or with greater detail, and (b) contain any other information required pursuant to the UCC for the sufficiency or filing office acceptance of any financing statement or amendment, including, but not limited to, (i) whether such Grantor is an organization, the type of organization and any organization identification number or control number, as applicable, and (ii) in the case of a financing statement that is filed as a fixture filing or indicating Collateral as as-extracted collateral or timber to be cut, a sufficient description of real property to which the Collateral relates.

 

Section 4.06     Maintenance of Records. Each Grantor will keep and maintain at its own cost and expense satisfactory and complete records of its Accounts Receivable, Contracts and other Collateral, including, but not limited to, the originals of all documentation with respect thereto, records of all payments received, all credits granted thereon, all merchandise returned and all other dealings therewith. All billings and invoices issued by a Grantor with respect to its Accounts Receivable will be in compliance with, and conform to, the requirements of all applicable federal, state and local laws and any applicable laws of any relevant foreign jurisdiction. If an Event of Default shall have occurred and be continuing and the Administrative Agent so directs, each Grantor shall legend, in form and manner satisfactory to the Administrative Agent, its Accounts Receivable and Contracts, as well as books, records and documents of such Grantor evidencing or pertaining thereto with an appropriate reference to the fact that such Accounts Receivable and Contracts have been assigned to the Administrative Agent and that the Administrative Agent has a security interest therein.

 

Section 4.07     Perfection Certificates. Each Grantor shall provide to the Administrative Agent a completed Perfection Certificate, duly executed by an Authorized Officer of such Grantor, together with all schedules required to be delivered in connection therewith (i)on the Closing Date as required pursuant to the Credit Agreement, (ii) on each date required pursuant to Section 6.01(m) of the Credit Agreement, and (iii) on the date that any additional Grantor becomes a party to this Agreement pursuant to Section 9.14 hereof.

 

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Section 4.08     Legal Status. Each Grantor agrees that (a) it will not change its name, place of business or if more than one, chief executive office, or its mailing address or organizational identification number if it has one, in each case without providing the Administrative Agent at least ten (10) days’ prior written notice thereof (or such shorter period as agreed to by the Administrative Agent), (b) if such Grantor does not have an organizational identification number and later obtains one, it will promptly notify the Administrative Agent of such organizational identification number, and (c) it will not change its type of organization, jurisdiction of organization or other legal structure in each case unless (i) it shall have provided the Administrative Agent at least ten (10) days’ prior written notice thereof (or such shorter period as agreed to by the Administrative Agent), and (ii) such action is permitted pursuant to the Credit Agreement.

 

Section 4.09     Inspections and Verification. The Administrative Agent and such Persons as the Administrative Agent may designate shall have the right, at any Grantor’s own cost and expense, at any time or from time to time, on not less than two (2) Business Days’ prior notice to the Borrower (on behalf of any applicable Grantor) if no Default or Event of Default has occurred and is continuing, and in the event a Default or Event of Default has occurred and is continuing, on not less than one (1) Business Day’s prior notice to the Borrower (on behalf of any applicable Grantor), to inspect the Collateral of such Grantor, all books and records related thereto (and to make extracts and copies thereof) and the premises upon which any of such Collateral is located, to discuss such Grantor’s affairs with the officers of such Grantor and its independent accountants, and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, such Collateral, including, in the case of accounts or other Collateral in the possession of any third Person, by contacting the third Person possessing such Collateral (after not less than two (2) days’ prior notice to the applicable Grantor) and while an Event of Default exists, Account Debtors, in each case for the purpose of making such verification; provided, that prior to the occurrence and continuation of an Event of Default, the Grantors shall not be liable for more than one visit and inspection in any fiscal year. Any procedures or actions taken, prior to the occurrence and continuance of an Event of Default, in order to verify accounts by contacting account debtors, shall be effected by the Borrower’s independent accountants, acting at the direction of the Administrative Agent, in such manner (consistent with their normal auditing procedures) so as not to reveal the identity of the Administrative Agent or the existence of the security interest to the account debtors. The Borrower will instruct its independent accountants to undertake any such verification when and as requested by the Administrative Agent. The results of any such verification by independent accountants shall be reported by such independent accountants to both the Administrative Agent and the Borrower. The Administrative Agent shall have the absolute right to share any information it gains from any such inspection or verification or from collateral reports furnished to it by a Grantor with the other Secured Creditors.

 

Section 4.10     Insurance. Each Grantor will at all times keep its business and its Collateral insured to the extent and in accordance with Section 6.03 of the Credit Agreement.

 

Section 4.11     [Reserved].

 

Section 4.12     Commercial Tort Claims. If any Grantor shall at any time hold or acquire a commercial tort claim, the recovery from which could reasonably be expected to exceed $1,000,000, such Grantor shall promptly notify the Administrative Agent thereof in a writing signed by such Grantor, which sets forth the details thereof and grants to the Administrative Agent (for the benefit of the Secured Creditors) a Lien thereon and on the Proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to the Administrative Agent.

 

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Section 4.13     Electronic Chattel Paper and Transferable Records. If any Grantor at any time holds or acquires an interest in any electronic chattel paper or any “transferable record,” as defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act, or in Section 16 of the Uniform Electronic Transactions Act, as in effect in any relevant jurisdiction in an amount in excess of $1,000,000, such Grantor shall promptly notify the Administrative Agent thereof and, at the request of the Administrative Agent, shall take such action as the Administrative Agent may reasonably request to vest in the Administrative Agent control under the UCC or control under Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Administrative Agent agrees with such Grantor that the Administrative Agent will arrange, pursuant to procedures reasonably satisfactory to the Administrative Agent and so long as such procedures will not result in the Administrative Agent’s loss of control, for the Grantor to make alterations such the electronic chattel paper or transferable record permitted under the UCC or, as the case may be, Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Grantor with respect to such electronic chattel paper or transferable record.

 

Section 4.14     Letter-of-Credit Rights. If any Grantor is at any time a beneficiary under a letter of credit now or hereafter issued in favor of such Grantor with a face or undrawn amount of $250,000 or more, such Grantor shall promptly notify the Administrative Agent thereof and, at the request of the Administrative Agent, such Grantor shall, pursuant to an agreement in form and substance satisfactory to the Administrative Agent, either (a) arrange for the issuer or any confirming bank of such letter of credit to consent to an assignment to the Administrative Agent of the proceeds of any drawing under the letter of credit, or (b) arrange for the Administrative Agent to become the transferee beneficiary of the letter of credit, with the Administrative Agent agreeing, in each case, that the proceeds of any drawing under the letter of credit are to be paid to the applicable Grantor unless an Event of Default has occurred and is continuing.

 

Section 4.15     Protective Advances by the Administrative Agent. At its option, but without being obligated to do so, the Administrative Agent may, upon not less than two (2) Business Days’ prior written notice to any applicable Grantor, after the occurrence and during the continuance of an Event of Default, (a) pay and discharge past due taxes, assessments and governmental charges, at any time levied on or with respect to any of the Collateral of such Grantor which such Grantor has failed to pay and discharge in accordance with the requirements of this Agreement or any of the other Loan Documents, (b) pay and discharge any claims of other creditors of such Grantor which are secured by any Lien on any Collateral, other than a Permitted Lien, (c) pay for the maintenance, repair, restoration and preservation of the Collateral to the extent such Grantor fails to comply with its obligations in regard thereto under this Agreement and the other Loan Documents or the Administrative Agent reasonably believes payment of the same is necessary or appropriate to avoid a material loss or material diminution in value of the Collateral, and/or (d) obtain and pay the premiums on insurance for the Collateral which such Grantor fails to maintain in accordance with the requirements of this Agreement and the other Loan Documents, and each Grantor agrees to reimburse the Administrative Agent, on demand, for all payments and expenses incurred by the Administrative Agent with respect to such Grantor or any of its Collateral pursuant to the foregoing authorization, provided, however, that nothing in this Section shall be construed as excusing any Grantor from the performance of, or imposing any obligation on the Administrative Agent or any other Secured Creditor to cure or perform, any covenants or other agreements of any Grantor with respect to any of the foregoing matters as set forth herein or in any of the other Loan Documents.

 

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ARTICLE V.

ACCOUNTS AND COLLECTION OF ACCOUNTS

 

Section 5.01     Deposit Accounts.

 

(a)     The Grantors shall take commercially reasonable efforts to cause all deposit accounts to be subject at all times to a fully effective Deposit Account Control Agreement except (i) any payroll account used exclusively for funding the payroll obligations of the Grantors in the ordinary course of business or (ii) any deposit account so long as the aggregate daily balance in any such deposit account is not in excess of $100,000 and the aggregate daily balance of all deposit accounts that are not subject to Deposit Account Control Agreements is not in excess of $500,000 (any deposit account that is not required to be subject to a Deposit Account Control Agreement pursuant to this Section shall be referred to as an “Excluded Deposit Account”).

 

Section 5.02     Securities Accounts.

 

(a)     The Grantors shall take commercially reasonable efforts to cause all securities accounts to be subject at all times to a fully effective Securities Account Control Agreement.

 

Section 5.03     Operation of Collateral Accounts. Upon the occurrence and during the continuance of an Event of Default, upon written notice to any Grantor, the Administrative Agent shall be permitted to (a) retain, or instruct the relevant Securities Intermediary or Depositary Bank to retain, all cash and investments held in any Collateral Account, (b) liquidate or issue entitlement orders with respect to, or instruct the relevant Securities Intermediary or Depositary Bank to liquidate, any or all investments or financial assets held in any Collateral Account, (c) issue a Notice of Exclusive Control or other similar instructions with respect to any Collateral Account and instruct the Depositary Bank or Securities Intermediary to follow the instructions of the Administrative Agent, and (d) withdraw any amounts held in any Collateral Account and apply such amounts in accordance with the terms of this Agreement.

 

Section 5.04     Collection of Accounts.

 

(a)     Each Grantor shall, in a manner consistent with the provisions of this Article V, endeavor to cause to be collected from the account debtor named in each of its Accounts Receivable, as and when due (including, without limitation, amounts which are delinquent, such amounts to be collected in accordance with generally accepted lawful collection procedures), any and all amounts owing under or on account of such Accounts Receivable and shall, if required to do so pursuant to the terms of this Agreement, cause such collections to deposited or held in a Collateral Account.

 

(b)     Each Grantor shall, and the Administrative Agent hereby authorizes each Grantor to, enforce and collect all amounts owing to it on its Inventory and Accounts Receivable, for the benefit and on behalf of the Administrative Agent and the other Secured Creditors; provided, however, that such privilege may at the sole option of the Administrative Agent, by notice to the Borrower (on behalf of all Grantors), be terminated upon the occurrence and during the continuance of any Event of Default.

 

ARTICLE VI.

PLEDGED COLLATERAL

 

Section 6.01     Delivery of Certificates and Instruments for Pledged Collateral.

 

(a)     Subject to Section 6.16 of the Credit Agreement, on or prior to the Closing Date, each Grantor shall pledge and deposit with the Administrative Agent all certificates or instruments, if any, representing any of the Pledged Collateral at the time owned by such Grantor and subject to the security interest hereof, duly endorsed in blank in the case of any instrument, and accompanied by undated stock powers duly executed in blank by such Grantor or such other instruments of transfer as are acceptable to the Administrative Agent, in the case of Pledged Equity Interests.

 

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(b)     If a Grantor shall acquire (by purchase, conversion, exchange, stock dividend or otherwise) any additional Pledged Collateral, at any time or from time to time after the date hereof which is or are intended to be subjected to the security interest hereof and which is or are represented by certificates or instruments, such Grantor shall (i) cause all such issuers to opt into Article 8 of the UCC and cause each such uncertificated security to be certificated in all respects in accordance with applicable laws, (ii) forthwith pledge and deposit with the Administrative Agent all such certificates or instruments, duly endorsed in blank in the case of Intercompany and Third-Party Notes, and accompanied by undated stock powers duly executed in blank by such Grantor or such other instruments of transfer as are acceptable to the Administrative Agent, in the case of Equity Interests, and (iii) promptly thereafter deliver to the Administrative Agent a certificate executed by an authorized officer of such Grantor describing such additional Pledged Collateral and certifying that the same have been duly pledged with the Administrative Agent hereunder.

 

(c)     Without limitation of any other provision of this Agreement, if any of the Pledged Collateral of a Grantor (whether now owned or hereafter acquired) which is intended to be subjected to the security interest hereof is (i) an uncertificated security, each such Grantor shall either (A) cause all such issuers to opt into Article 8 of the UCC and cause each such uncertificated security to be certificated in all respects in accordance with applicable laws, accompanied by undated stock powers duly executed in blank by each such Grantor or by such other instruments of transfer as are acceptable to the Administrative Agent, and promptly thereafter deposited with the Administrative Agent or otherwise provide the Administrative Agent control with respect to such uncertificated security, or (B) not opt into or voluntarily allow any Equity Interest to be governed by Article 8 of the UCC, or (ii) held in a securities account that is not already subject to a Securities Account Control Agreement, such Grantor shall promptly take all actions required to make such securities account subject to a Securities Account Control Agreement. Each Grantor further agrees to take such actions as the Administrative Agent deems reasonably necessary or desirable to effect the foregoing and to permit the Administrative Agent to exercise any of its rights and remedies hereunder in respect thereof, and agrees to provide an opinion of counsel reasonably satisfactory to the Administrative Agent with respect to any such pledge of any of the securities described in clauses (i) and (ii) above, promptly upon the request of the Administrative Agent.

 

Section 6.02     No Assumption of Liability. The security interest of any Grantor is granted as security only and shall not subject the Administrative Agent or any other Secured Creditor to, or in any way alter or modify, any obligation or liability of such Grantor with respect to or arising out of any of the Pledged Collateral. Nothing herein shall be construed to make the Administrative Agent liable as a general partner or limited partner of any Pledged Entity or a shareholder of any corporation, and the Administrative Agent by virtue of this Agreement or any actions taken as contemplated hereby (except as referred to in the following sentence) shall not have any of the duties, obligations or liabilities of a general partner or limited partner of any Pledged Entity or a stockholder of any corporation. The parties hereto expressly agree that, unless the Administrative Agent shall become the absolute owner of an Equity Interest pursuant hereto, this Agreement shall not be construed as creating a partnership or joint venture among the Administrative Agent and/or a Grantor or any other Person.

 

Section 6.03     Registration of Collateral in the Name of the Administrative Agent. On and after the occurrence and continuation of an Event of Default, the Administrative Agent shall have the right, at any time in its discretion and shall endeavor to provide written notice to the applicable Grantor (it being understood that the Administrative Agent should not be liable for the failure to provide such notice), to transfer to or to register in the name of the Administrative Agent or any of its nominees any or all of the Pledged Collateral, subject only to the revocable voting and similar rights specified in this Article VI. In addition, on and after the occurrence and continuation of an Event of Default, the Administrative Agent shall have the right at any time to exchange certificates or instruments representing or evidencing any Pledged Collateral for certificates or instruments of smaller or larger denominations.

 

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Section 6.04     Appointment of Sub-Agents; Endorsements; etc. The Administrative Agent shall have the right to appoint one or more sub-agents for the purpose of retaining physical possession of the instruments and certificates evidencing any of the Pledged Collateral, which may be held (in the sole discretion of the Administrative Agent) in the name of the relevant Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or any nominee or nominees of the Administrative Agent or a sub-agent appointed by the Administrative Agent.

 

Section 6.05     Voting Rights. Unless and until an Event of Default shall have occurred and be continuing, each Grantor shall be entitled to exercise all voting rights attaching to any and all Pledged Collateral owned by it, and to give consents, waivers or ratifications in respect thereof, provided that no vote shall be cast or any consent, waiver or ratification given or any action taken which would violate, result in breach of any covenant contained in or be inconsistent with any of the terms of this Agreement, any other Loan Document or any Designated Hedge Document, or which would have the effect of materially impairing the position or interests of the Administrative Agent or any Secured Creditor therein. All such rights of such Grantor to vote and to give consents, waivers and ratifications shall cease in case an Event of Default shall occur and be continuing.

 

Section 6.06     Entitlement of Grantors to Cash Dividends and Distributions. Each Grantor shall be entitled to receive all cash dividends or distributions payable in respect of its Pledged Collateral, except as otherwise provided in this Article VI.

 

Section 6.07     Entitlement of Administrative Agent to Dividends and Distributions. The Administrative Agent shall be entitled to receive and to retain as part of the Pledged Collateral:

 

(a)     all cash dividends and distributions payable in respect of the Pledged Collateral at any time when an Event of Default shall have occurred and be continuing; and

 

(b)     regardless of whether or not an Event of Default shall have occurred and be continuing at the time of payment or distribution thereof, and, to the extent any of the following is prohibited by the Credit Agreement: (i) all cash dividends and distributions in respect of the Pledged Collateral which are reasonably determined by the Administrative Agent to represent in whole or in part an extraordinary, liquidating or other distribution in return of capital; (ii) all other or additional stock, other securities, partnership interests, membership interests or property (other than cash to which a Grantor is entitled under Section 6.06) paid or distributed by way of dividend (including, without limitation, any payment in kind dividend) or otherwise in respect of the Pledged Collateral; (iii) all other or additional stock, other securities, partnership interests, membership interests or property (including cash) paid or distributed in respect of the Pledged Collateral by way of stock split, spin-off, split up, reclassification, combination of shares or similar rearrangement; and (iv) all other or additional stock, other securities, partnership interests, membership interests or property (including cash) which may be paid in respect of the Pledged Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate, partnership or limited liability company reorganization.

 

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Section 6.08     Application of Dividends and Distributions. If no Event of Default shall have occurred and be continuing at such time, the Administrative Agent will, at the request of the Borrower (on behalf of any applicable Grantor or Grantors), pay over to the Administrative Agent, for application to the payment or prepayment of any of the Loan Document Obligations, any cash held by it as Pledged Collateral which is attributable to dividends or distributions received by it and then held as part of the Collateral pursuant to this Article VI. If an Event of Default shall have occurred and be continuing, all dividends and distributions received by the Administrative Agent and then held by it pursuant to this Article VI as part of the Pledged Collateral will be applied as provided in Section 8.05 hereof.

 

Section 6.09     Turnover by Grantors. All dividends, distributions or other payments that are received by any Grantor contrary to the provisions of this Agreement shall be received in trust for the benefit of the Administrative Agent, shall be segregated from other property or funds of such Grantor and shall be forthwith paid over to the Administrative Agent as Collateral in the same form as so received (with any necessary endorsement).

 

Section 6.10     Registration under 1933 Act. If an Event of Default shall have occurred and be continuing and a Grantor shall have received from the Administrative Agent a written request or requests that such Grantor cause any registration, qualification or compliance under any Federal or state securities law or laws to be effected with respect to all or any part of the Pledged Equity Interest of its Subsidiaries, such Grantor as soon as practicable and at its expense will use its best efforts to cause such registration to be effected (and be kept effective) and will use its best efforts to cause such qualification and compliance to be effected (and be kept effective) as may be so requested and as would permit or facilitate the sale and distribution of such stock, including, without limitation, registration under the Securities Act of 1933, as then in effect (the “Securities Act”) (or any similar statute then in effect), appropriate qualifications under applicable blue sky or other state securities laws and appropriate compliance with any other governmental requirements, provided that the Administrative Agent shall furnish to such Grantor such information regarding the Administrative Agent as such Grantor may request in writing and as shall be required in connection with any such registration, qualification or compliance. The relevant Grantor will advise the Administrative Agent in writing as to the progress of each such registration, qualification or compliance and as to the completion thereof, will furnish to the Administrative Agent such number of prospectuses, offering circulars and other documents incident thereto as the Administrative Agent from time to time may reasonably request, and will indemnify the Administrative Agent and all others participating in the distribution of such Pledged Equity Interests against all claims, losses, damages or liabilities caused by any untrue statement (or alleged untrue statement) of a material fact contained therein (or in any related registration statement, notification or the like) or by any omission (or alleged omission) to state therein (or in any related registration statement, notification or the like) a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same may have been caused by an untrue statement or omission based upon information furnished in writing to such Grantor by the Administrative Agent expressly for use therein.

 

Section 6.11     Sale of Pledged Equity Interests in Connection with Enforcement. If at any time when the Administrative Agent shall determine to exercise its right to sell all or any part of the Pledged Equity Interests pursuant to Section 8.01, such Pledged Equity Interests or the part thereof to be sold shall not, for any reason whatsoever, be effectively registered under the Securities Act, as then in effect, the Administrative Agent may, in its sole and absolute discretion and to the fullest extent permitted by applicable law now or hereafter in effect, sell such Pledged Equity Interests or part thereof by private sale in such manner and under such circumstances as the Administrative Agent may deem necessary or advisable in order that such sale may legally be effected without such registration, provided that at least ten (10) days’ notice of the time and place of any such sale shall be given to the relevant Grantor. Without limiting the generality of the foregoing, in any such event the Administrative Agent, in its sole and absolute discretion, (a) may proceed to make such private sale notwithstanding that a registration statement for the purpose of registering such Pledged Equity Interests or part thereof shall have been filed under such Securities Act, (b) may approach and negotiate with a single possible purchaser to effect such sale and (c) may restrict such sale to a purchaser who will represent and agree that such purchaser is purchasing for its own account, for investment, and not with a view to the distribution or sale of such Pledged Equity Interests or part thereof. In the event of any such sale, the Administrative Agent shall incur no responsibility or liability to any Grantor for selling all or any part of the Pledged Equity Interests at a price which the Administrative Agent may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might be realized if the sale were deferred until the registration as aforesaid.

 

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ARTICLE VII.

Intellectual property

 

Section 7.01     Intellectual Property. Each Grantor represents and warrants that: (a) it is the true and lawful owner or licensee of the Trademarks listed on the most recent Perfection Certificate delivered by such Grantor to the Administrative Agent and that said listed Trademarks constitute all the marks registered in the United States Patent and Trademark Office that such Grantor now owns or uses in connection with its business; (b) it is the true and lawful owner or licensee of all rights in the Patents listed on the most recent Perfection Certificate delivered by such Grantor to the Administrative Agent and that said Patents constitute all the United States patents and applications for United States patents that such Grantor now owns or uses in connection with its business; and (c) it is the true and lawful owner or licensee of all rights in the Copyright registrations listed on the most recent Perfection Certificate delivered by such Grantor to the Administrative Agent and that said Copyrights constitute all the registered United States copyrights that such Grantor now owns. Each Grantor further warrants that it is aware of no third-party claim that any aspect of such Grantor’s present or contemplated business operations infringes or will infringe any trademark, service mark, patent, trade secret or copyright in a manner which could have a material adverse effect on the financial condition, business or property of such Grantor.

 

Section 7.02     Collateral Assignments; Further Assurances. Upon request of the Administrative Agent whenever made, any Grantor shall promptly execute and deliver to the Administrative Agent such Collateral Assignment Agreements as the Administrative Agent shall request in connection with such Grantor’s Intellectual Property. Each Grantor agrees that it will take such action, and deliver such documents or instruments, as the Administrative Agent shall request in connection with the preparation, filing or registration and enforcement of any Collateral Assignment Agreement.

 

Section 7.03     Licenses and Assignments. Each Grantor hereby agrees not to divest itself of any material right under or with respect to any Intellectual Property material to its business other than in the ordinary course of business or as expressly permitted pursuant to the Credit Agreement (including Permitted Licenses) absent prior written approval of the Administrative Agent.

 

Section 7.04     Infringements. Each Grantor agrees, promptly upon learning thereof, to notify the Administrative Agent in writing of the name and address of, and to furnish such pertinent information that may be available with respect to, any party who may be infringing or otherwise violating any of such Grantor’s rights in and to any Intellectual Property that could reasonably be expected to have a material adverse effect on the financial condition, business or property of such Grantor (any such Intellectual Property, “Significant Intellectual Property”), or with respect to any party claiming that such Grantor’s use of any Significant Intellectual Property violates any property right of that party, to the extent that such infringement or violation could reasonably be expected to have a material adverse effect on the financial condition, business or property of such Grantor. Each Grantor further agrees, unless otherwise directed by the Administrative Agent, to take actions to curtail or abate such infringement in a manner consistent with its past practice and in the ordinary course of business.

 

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Section 7.05     Trademarks.

 

(a)     Preservation of Trademarks. Each Grantor agrees to use or license the use of its Trademarks in interstate commerce during the time in which this Agreement is in effect, sufficiently to preserve such Trademarks as trademarks or service marks registered under the laws of the United States, provided, however, that no Grantor shall be obligated to use or license any Trademark in interstate commerce or otherwise if such Grantor, in its commercially reasonable judgment, determines that such Trademark has no further commercial value to such Grantor and the failure to use or license such Trademark would not reasonably be expected to cause material liability to such Grantor.

 

(b)     Maintenance of Registration. Each Grantor shall, at its own expense, diligently process all documents required by the Trademark Act of 1946, 15 U.S.C. §§ 1051, et seq. to maintain trademark registration that the failure to so maintain could reasonably be expected to have a Material Adverse Effect, including but not limited to affidavits of use and applications for renewals of registration in the United States Patent and Trademark Office for all of its Trademarks pursuant to 15 U.S.C. §§ 1058(a), 1059 and 1065, and shall pay all fees and disbursements in connection therewith, and shall not abandon any such filing of affidavit of use or any such application of renewal prior to the exhaustion of all administrative and judicial remedies without prior written consent of the Administrative Agent, which consent shall not be unreasonably withheld.

 

(c)     Future Registered Trademarks. If any mark registration is issued hereafter to a Grantor as a result of any application now or hereafter pending before the United States Patent and Trademark Office, then, along with updates to the Perfection Certificate required to be delivered pursuant to Section 6.01(m) of the Credit Agreement, such Grantor shall deliver to the Administrative Agent a grant of security in such mark to the Administrative Agent, confirming the grant thereof hereunder, the form of such confirmatory grant to be in form and substance acceptable to the Administrative Agent.

 

Section 7.06     Patents.

 

(a)     Maintenance of Patents. Each Grantor shall make timely payment of all post-issuance fees required pursuant to 35 U.S.C. § 41 to maintain in force rights under each Patent.

 

(b)     Prosecution of Patent Applications. Each Grantor shall diligently prosecute all material applications for United States patents, and shall not abandon any such application, except in favor of a continuation application based on such application, prior to exhaustion of all administrative and judicial remedies, absent written consent of the Administrative Agent or as determined by such Grantor in its commercially reasonable judgment, which consent shall not be unreasonably withheld.

 

Section 7.07     Other Patents and Copyrights. Along with updates to the Perfection Certificate required to be delivered pursuant to Section 6.01(m) of the Credit Agreement, the relevant Grantor shall deliver to the Administrative Agent a grant of security as to any newly acquired United States Patent or Copyright, or application for a United States Patent or Copyright, as the case may be, confirming the grant thereof hereunder, the form of such confirmatory grant to be in form and substance acceptable to the Administrative Agent.

 

Section 7.08     Remedies Relating to Intellectual Property. If an Event of Default shall occur and be continuing, the Administrative Agent may, by written notice to the relevant Grantor, take any or all of the following actions: (a) declare the entire right, title and interest of such Grantor in and to each of the Copyrights, Patents and Trademarks, together with all trademark rights and rights of protection to the same, vested, in which event such rights, title and interest shall immediately vest in the Administrative Agent for the benefit of the Secured Creditors, in which case such Grantor agrees to execute an assignment in form and substance reasonably satisfactory to the Administrative Agent of all its rights, title and interest in and to the Copyrights, Patents and Trademarks to the Administrative Agent for the benefit of the Secured Creditors; (b) take and practice or sell the Copyrights or Patents and take and use or sell the Trademarks and the goodwill of such Grantor’s business symbolized by the Trademarks and the right to carry on the business and use the assets of the Grantor in connection with which the Trademarks have been used; and (c) direct such Grantor to refrain, in which event such Grantor shall refrain, from using the Copyrights, Patents and Trademarks in any manner whatsoever, directly or indirectly, and, if requested by the Administrative Agent, change such Grantor’s corporate name to eliminate therefrom any use of any mark and execute such other and further documents that the Administrative Agent may request in connection with such Grantor’s obligations under this Agreement and to transfer ownership of the Copyrights, Patents and Trademarks, and registrations and any pending trademark application, to the Administrative Agent for the benefit of the Secured Creditors.

 

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ARTICLE VIII.

REMEDIES UPON OCCURRENCE OF EVENT OF DEFAULT

 

Section 8.01     Remedies Generally. Each Grantor agrees that, if any Event of Default shall have occurred and be continuing, then and in every such case, subject to any mandatory requirements of applicable law then in effect, the Administrative Agent, in addition to any rights now or hereafter existing under applicable law, shall have all rights as a secured creditor under the UCC in all relevant jurisdictions and may exercise any or all of the following rights (all of which each Grantor hereby agrees is commercially reasonable to the fullest extent permitted under applicable law now or hereafter in effect):

 

(a)     personally, or by agents, attorneys or other authorized representatives, immediately retake possession of the Collateral or any part thereof from such Grantor or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon such Grantor’s or such other Person’s premises where any of the Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of such Grantor;

 

(b)     instruct the obligor or obligors on any Account Receivable, agreement, instrument or other obligation (including, without limitation, account debtors) constituting the Collateral to make any payment required by the terms of such Account Receivable, agreement, instrument or other obligation directly to the Administrative Agent and/or directly to a lockbox under the sole dominion and control of the Administrative Agent;

 

(c)     sell, assign or otherwise liquidate, or direct such Grantor to sell, assign or otherwise liquidate, any or all of the Collateral or any part thereof, and take possession of the proceeds of any such sale or liquidation;

 

(d)     issue a Notice of Exclusive Control with respect to any or all of the Collateral Accounts and issue entitlement orders or instructions with respect thereto;

 

(e)     withdraw any or all monies, securities and/or instruments in any Collateral Account for application to the Secured Obligations in accordance with Section 8.05 hereof;

 

(f)     pay and discharge taxes, Liens or claims on or against any of the Collateral;

 

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(g)     pay, perform or satisfy, or cause to be paid, performed or satisfied, for the benefit of any Grantor, any of the obligations, terms, covenants, provisions or conditions to be paid, observed, performed or satisfied by such Grantor under any contract, agreement or instrument relating to its Collateral, all in accordance with the terms, covenants, provisions and conditions thereof, as and to the extent that such Grantor fails or refuses to perform or satisfy the same;

 

(h)     enter into any extension of, or any other agreement in any way relating to, any of the Collateral;

 

(i)     make any compromise or settlement the Administrative Agent reasonably deems desirable or necessary with respect to any of the Collateral; and/or

 

(j)     take possession of the Collateral or any part thereof, by directing such Grantor or any other Person in possession thereof in writing to deliver the same to the Administrative Agent at any place or places designated by the Administrative Agent, in which event such Grantor shall at its own expense:

 

(i)     forthwith cause the same to be moved to the place or places so designated by the Administrative Agent and delivered to the Administrative Agent,

 

(ii)     store and keep any Collateral so delivered to the Administrative Agent at such place or places pending further action by the Administrative Agent as provided in Section 8.02, and

 

(iii)     while the Collateral shall be so stored and kept, provide such guards and maintenance services as shall be necessary to protect the same and to preserve and maintain them in substantially the same condition prior to such action;

 

it being understood that such Grantor’s obligation to deliver the Collateral is of the essence of this Agreement and that, accordingly, upon application to a court of equity having jurisdiction, the Administrative Agent shall be entitled to a decree requiring specific performance by such Grantor of said obligation.

 

Section 8.02     Disposition of the Collateral. Upon the occurrence and during the continuance of an Event of Default, any Collateral repossessed by the Administrative Agent under or pursuant to Section 8.01 and any other Collateral whether or not so repossessed by the Administrative Agent, may be sold, assigned, leased or otherwise disposed of under one or more contracts or as an entirety, and without the necessity of gathering at the place of sale of the property to be sold, and in general in such manner, at such time or times, at such place or places and on such terms as the Administrative Agent may, in compliance with any mandatory requirements of applicable law, determine to be commercially reasonable. Any of the Collateral may be sold, leased or otherwise disposed of, in the condition in which the same existed when taken by the Administrative Agent or after any overhaul or repair which the Administrative Agent shall determine to be commercially reasonable. Except in the case of any Collateral that is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, (a) in the case of any such disposition which shall be a private sale or other private proceedings permitted by such requirements, such sale shall be made upon not less than ten (10) days’ written notice to such Grantor specifying the time at which such disposition is to be made and the intended sale price or other consideration therefor, and shall be subject, for the ten (10) days after the giving of such notice, to the right of the relevant Grantor or any nominee of the relevant Grantor to acquire the Collateral involved at a price or for such other consideration at least equal to the intended sale price or other consideration so specified, and (b) in the case of any such disposition which shall be a public sale permitted by such requirements, such sale shall be made upon not less than ten (10) days’ written notice to the relevant Grantor specifying the time and place of such sale and, in the absence of applicable requirements of law, shall be by public auction (which may, at the Administrative Agent’s sole option, be subject to reserve), after publication of notice of such auction not less than ten (10) days prior thereto in two newspapers in general circulation in the city where such Collateral is located. To the extent permitted by any such requirement of law, the Administrative Agent on behalf of the Secured Creditors (or certain of them) may bid for and become the purchaser (by bidding in Secured Obligations or otherwise) of the Collateral or any item thereof offered for sale in accordance with this Section without accountability to the relevant Grantor (except to the extent of surplus money received as provided in Section 8.05). Unless so obligated under mandatory requirements of applicable law, the Administrative Agent shall not make dispositions of the Collateral within a period of time which does not permit the giving of notice to the Grantor as hereinabove specified. The Administrative Agent need give the relevant Grantor only such notice of disposition as the Administrative Agent shall deem to be reasonably practicable in view of such mandatory requirements of applicable law.

 

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Section 8.03     Grant of License to Use Intellectual Property. For the purpose of enabling the Administrative Agent to exercise rights and remedies under this Article VIII at such time as the Administrative Agent shall be lawfully entitled to exercise such rights and remedies and for no other purpose, each Grantor hereby grants to the Administrative Agent an irrevocable, non-exclusive license (exercisable without payment of royalty or other compensation to the Grantor) to use, assign or sublicense any of the Intellectual Property of such Grantor, now owned or hereafter acquired by such Grantor, and wherever the same may be located, including in such license reasonable access to all media in which any of the licensed items may be recorded or stored and to all computer programs used for the compilation or printout thereof.

 

Section 8.04     Waiver of Claims. Except as otherwise provided in this Agreement, each Grantor hereby waives, to the extent permitted by law: (a) all damages occasioned by any taking of possession of the Collateral as permitted hereunder except any damages which are the direct result of the Administrative Agent’s gross negligence or willful misconduct; (b) all other requirements as to the time, place and terms of sale or other requirements with respect to the enforcement of the Administrative Agent’s rights hereunder; and (c) all rights of redemption, appraisement, valuation, stay, extension or moratorium now or hereafter in force under any applicable law in order to prevent or delay the enforcement of this Agreement or the absolute sale of the Collateral or any portion thereof, and each Grantor, for itself and all who may claim under it, insofar as it or they now or hereafter lawfully may, hereby waives the benefit of all such laws to the fullest extent permitted by applicable law now or hereafter in effect. Any sale of, or the grant of options to purchase, or any other realization upon, any Collateral shall operate to divest all right, title, interest, claim and demand, either at law or in equity, of the relevant Grantor therein and thereto, and shall be a perpetual bar both at law and in equity against the relevant Grantor and against any and all Persons claiming or attempting to claim the Collateral so sold, optioned or realized upon, or any part thereof, from, through and under the relevant Grantor.

 

Section 8.05     Application of Proceeds. All Collateral and proceeds of Collateral obtained and realized by the Administrative Agent in connection with the enforcement of this Agreement pursuant to this Article VIII shall be applied as follows:

 

(i)     first, to the payment to the Administrative Agent, for application to the Secured Obligations as provided in Section 8.03 of the Credit Agreement; and

 

(ii)     second, to the extent remaining after the application pursuant to the preceding clause (i) and following the termination of this Agreement pursuant to Section 9.09 hereof, to the relevant Grantor or to whomever may be lawfully entitled to receive such payment.

 

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Section 8.06     Remedies Cumulative. Each and every right, power and remedy hereby specifically given to the Administrative Agent shall be in addition to every other right, power and remedy specifically given under this Agreement, any Designated Hedge Document or the other Loan Documents or now or hereafter existing at law or in equity, or by statute, and each and every right, power and remedy whether specifically herein given or otherwise existing may be exercised from time to time or simultaneously and as often and in such order as may be deemed expedient by the Administrative Agent. All such rights, powers and remedies shall be cumulative and the exercise or the beginning of exercise of one shall not be deemed a waiver of the right to exercise any other or others. No delay or omission of the Administrative Agent in the exercise of any such right, power or remedy, or partial or single exercise thereof, and no renewal or extension of any of the Secured Obligations, shall impair or constitute a waiver of any such right, power or remedy or shall be construed to be a waiver of any Default or Event of Default or an acquiescence therein. No notice to or demand on any Grantor in any case shall entitle it to any other or further notice or demand in similar or other circumstances or constitute a waiver of any of the rights of the Administrative Agent to any other or further action in any circumstances without notice or demand. In the event that the Administrative Agent shall bring any suit to enforce any of its rights hereunder and shall be entitled to judgment, then in such suit the Administrative Agent may recover reasonable, actual expenses, including attorneys’ fees, and the amounts thereof shall be included in such judgment.

 

Section 8.07     Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant Grantor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

 

Section 8.08     Purchasers of Collateral. Upon any sale of any of the Collateral by the Administrative Agent hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the Administrative Agent or the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Administrative Agent or such officer or be answerable in any way for the misapplication or nonapplication thereof.

 

ARTICLE IX.

MISCELLANEOUS

 

Section 9.01     Notices. Except as otherwise expressly provided herein, all notices and other communications provided for hereunder shall be in writing, sent by telecopier, electronic mail, mail or delivery, (a) if to the Borrower, at its address specified in or pursuant to the Credit Agreement, (b) if to any other Grantor, to it c/o the Borrower at its address specified in or pursuant to the Credit Agreement, (c) if to the Administrative Agent, to it at the Notice Office of the Administrative Agent, (d) if to any Lender, at its address specified in or pursuant to the Credit Agreement, and (e) if to any Designated Hedge Creditor, at such address as such Designated Hedge Creditor shall have specified in writing to each Grantor and the Administrative Agent; or in any case at such other address as any of the Persons listed above may hereafter notify the others in writing. All such notices and communications shall be mailed, telecopied, sent by overnight courier or delivered, and shall be effective when received.

 

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Section 9.02     Entire Agreement. This Agreement, the other Loan Documents and any Designated Hedge Documents represent the final agreement among the parties with respect to the subject matter hereof and thereof, supersede any and all prior agreements and understandings, oral or written, relating to the subject matter hereof and thereof, and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements among the parties. There are no unwritten oral agreements among the parties.

 

Section 9.03     Obligations Absolute. The obligations of each Grantor under this Agreement shall be absolute and unconditional and shall remain in full force and effect without regard to, and shall not be released, suspended, discharged, terminated or otherwise affected by, any circumstance or occurrence whatsoever, other than indefeasible payment in full of, and complete performance of, all of the Secured Obligations, including, without limitation:

 

(a)     any renewal, extension, amendment or modification of, or addition or supplement to, or deletion from the other Loan Documents or any Designated Hedge Document, or any other instrument or agreement referred to therein, or any assignment or transfer of any thereof;

 

(b)     any waiver, consent, extension, indulgence or other action or inaction under or in respect of any such agreement or instrument or this Agreement except as expressly provided in such renewal, extension, amendment, modification, addition, supplement, assignment or transfer;

 

(c)     any furnishing of any additional security to the Administrative Agent or its assignee or any acceptance thereof or any release of any security by the Administrative Agent or its assignee;

 

(d)     any limitation on any Person’s liability or obligations under any such instrument or agreement or any invalidity or unenforceability, in whole or in part, of any such instrument or agreement or any term thereof;

 

(e)     any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other like proceeding relating to a Grantor or any Subsidiary of a Grantor, or any action taken with respect to this Agreement by any trustee or receiver, or by any court, in any such proceeding, whether or not a Grantor shall have notice or knowledge of any of the foregoing; or

 

(f)     to the fullest extent permitted by applicable law now or hereafter in effect, any other event or circumstance which, but for this provision, might release or discharge a guarantor or other surety from its obligations as such.

 

Section 9.04     Successors and Assigns. This Agreement shall be binding upon each Grantor and its successors and assigns and shall inure to the benefit of the Administrative Agent and each other Secured Creditor and their respective permitted successors and permitted assigns, provided that no Grantor may transfer or assign any or all of its rights or obligations hereunder without the written consent of the Administrative Agent. All agreements, statements, representations and warranties made by each Grantor herein or in any certificate or other instrument delivered by such Grantor or on its behalf under this Agreement shall be considered to have been relied upon by the Secured Creditors and shall survive the execution and delivery of this Agreement, the other Loan Documents and any Designated Hedge Document regardless of any investigation made by the Secured Creditors on their behalf.

 

Section 9.05     Headings Descriptive. The headings of the several Sections of this Agreement are inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Agreement.

 

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Section 9.06     Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

Section 9.07     Enforcement Expenses, etc. The Grantors hereby jointly and severally agree to pay, to the extent not paid pursuant to Section 11.01 of the Credit Agreement, all reasonable out-of-pocket costs and expenses of the Administrative Agent and each other Secured Creditor in connection with the enforcement of this Agreement, the preservation of the Collateral, the perfection of the security interest, and any amendment, waiver or consent relating hereto (including, without limitation, the fees and disbursements of counsel employed by the Administrative Agent or any of the other Secured Creditors).

 

Section 9.08     Release of Portions of Collateral.

 

(a)     So long as no Event of Default is in existence or would exist after the application of proceeds as provided below, the Administrative Agent shall, at the request of a Grantor, release any or all of the Collateral of such Grantor, provided that (i) such release is permitted by the terms of the Credit Agreement (it being agreed for such purposes that a release will be deemed “permitted by the terms of the Credit Agreement” if the proposed transaction constitutes an exception contained in Section 7.02 of the Credit Agreement) or otherwise has been approved in writing by the Required Lenders (or, to the extent required by Section 11.12 of the Credit Agreement, all of the applicable Lenders) and (ii) the proceeds of such Collateral are to be applied as required pursuant to the Credit Agreement or any consent or waiver entered into with respect thereto.

 

(b)     At any time that a Grantor desires that the Administrative Agent take any action to give effect to any release of Collateral pursuant to the foregoing Section 9.08(a), it shall deliver to the Administrative Agent a certificate signed by a principal executive officer stating that the release of the respective Collateral is permitted pursuant to Section 9.08(a). In the event that any part of the Collateral is released as provided in Section 9.08(a), the Administrative Agent, at the request and expense of a Grantor, will duly release such Collateral and assign, transfer and deliver to such Grantor (without recourse and without any representation or warranty) such of the Collateral as is then being (or has been) so sold and as may be in the possession of the Administrative Agent and has not theretofore been released pursuant to this Agreement. The Administrative Agent shall have no liability whatsoever to any Secured Creditor as the result of any release of Collateral by it as permitted by this Section 9.08.

 

Section 9.09     Termination. After the termination of all of the Commitments and all of the Obligations have been fully and finally discharged (other than obligation in respect of Designated Hedge Agreements, contingent indemnity obligations and obligations in respect of Letters of Credit that have been Cash Collateralized) and the obligations of the Administrative Agent and the Lenders to provide additional credit under the Loan Documents have been terminated irrevocably, this Agreement shall terminate, and the Administrative Agent, at the request and expense of the Grantors, will execute and deliver to the relevant Grantor a proper instrument or instruments (including, without limitation, UCC termination statements on form UCC-3) acknowledging the satisfaction and termination of this Agreement, and will duly assign, transfer and deliver to the relevant Grantor (without recourse and without any representation or warranty) such of the Collateral as may be in the possession of the Administrative Agent and as has not theretofore been sold or otherwise applied or released pursuant to this Agreement.

 

Section 9.10     Administrative Agent. The Administrative Agent will hold in accordance with this Agreement all items of the Collateral at any time received under this Agreement. The acceptance by the Administrative Agent of this Agreement, with all the rights, powers, privileges and authority so created, shall not at any time or in any event obligate the Administrative Agent to appear in or defend any action or proceeding relating to the Collateral to which it is not a party, or to take any action hereunder or thereunder, or to expend any money or incur any expenses or perform or discharge any obligation, duty or liability under the Collateral. By accepting the benefits of this Agreement, each Secured Creditor acknowledges and agrees that the rights and obligations of the Administrative Agent shall be as set forth in Article IX of the Credit Agreement. Notwithstanding anything to the contrary contained in Section 9.03 of this Agreement or Section 11.12 of the Credit Agreement, this Section 9.10, and the duties and obligations of the Administrative Agent set forth in this Section 9.10, may not be amended or modified without the consent of the Administrative Agent.

 

-27-

 

 

Section 9.11     Only Administrative Agent to Enforce on Behalf of Secured Creditors. The Secured Creditors agree by their acceptance of the benefits hereof that this Agreement may be enforced on their behalf only by the action of the Administrative Agent, acting upon the instructions of the Required Lenders (or, after all Loan Document Obligations have been paid in full, instructions of the holders of at least 51% of the outstanding Designated Hedge Document Obligations) and that no other Secured Creditor shall have any right individually to seek to enforce or to enforce this Agreement or to realize upon the security to be granted hereby, it being understood and agreed that such rights and remedies may be exercised by the Administrative Agent, for the benefit of the Secured Creditors, upon the terms of this Agreement.

 

Section 9.12     Other Creditors, etc. Not Third-Party Beneficiaries. No creditor of any Grantor or any of its Affiliates, or other Person claiming by, through or under any Grantor or any of its Affiliates, other than the Administrative Agent and the other Secured Creditors, and their respective successors and assigns, shall be a beneficiary or third-party beneficiary of this Agreement or otherwise shall derive any right or benefit herefrom.

 

Section 9.13     Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto on separate counterparts, including via facsimile transmission or other electronic transmission capable of authentication, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same agreement. A set of counterparts executed by all the parties hereto shall be lodged with the Borrower and the Administrative Agent.

 

Section 9.14     Amendments; Additional Grantors. No amendment or waiver of any provision of this Agreement and no consent to any departure by any Grantor shall in any event be effective unless the same shall be in writing and signed by the Administrative Agent acting at the direction of the requisite number of Lenders, if any, required pursuant to Section 11.12 of the Credit Agreement, and the applicable Grantor or Grantors, as the case may be, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. Upon the execution and delivery by any Person of a Security Agreement Joinder, (a) such Person shall be referred to as an “Additional Grantor” and shall become and be a Grantor hereunder, and each reference in this Agreement to a “Grantor” shall also mean and be a reference to such Additional Grantor, and each reference in any other Loan Document to a “Grantor” shall also mean and be a reference to such Additional Grantor, and (b) each reference herein to “this Agreement,” “hereunder,” “hereof” or words of like import referring to this Agreement, and each reference in any other Loan Document to the “Security Agreement,” “thereunder,” “thereof” or words of like import referring to this Agreement, shall mean and be a reference to this Agreement as supplemented by such Security Agreement Joinder.

 

Section 9.15     Separate Actions. A separate action may be brought and prosecuted against any Grantor, any other guarantor or obligor or the Borrower, and whether or not any other Grantor, any other guarantor or obligor or the Borrower be joined in such action or actions.

 

-28-

 

 

Section 9.16     Full Recourse Obligations; Effect of Fraudulent Transfer Laws. It is the desire and intent of each Grantor, the Administrative Agent and the other Secured Creditors that this Agreement shall be enforced as a full recourse obligation of each Grantor to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. If and to the extent that the obligations of any Grantor under this Agreement would, in the absence of this sentence, be adjudicated to be invalid or unenforceable because of any applicable state or federal law relating to fraudulent conveyances or transfers, then the amount of such Grantor liability hereunder in respect of the Secured Obligations shall be deemed to be reduced ab initio to that maximum amount that would be permitted without causing such Grantor’s obligations hereunder to be so invalidated.

 

Section 9.17     Governing Law; Venue; Waiver of Jury Trial.

 

(a)     THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES.

 

(b)     ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH GRANTOR CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH GRANTOR IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AGREEMENT OR OTHER DOCUMENT RELATED THERETO. EACH GRANTOR WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY THE LAW OF SUCH STATE.

 

(c)     THE ADMINISTRATIVE AGENT AND EACH GRANTOR HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH GRANTOR HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 9.17 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

 

Section 9.18     Acknowledgement Regarding Any Support QFCs. The provisions and acknowledgements contained in Section 11.30 of the Credit Agreement are hereby incorporated into this Security Agreement, mutatis mutandis.

 

[Remainder of page intentionally left blank]

 

-29-

 

 

 

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

 

 

	 	
			LEMAITRE VASCULAR, INC., as Grantor

			 

			By:      /s/ Joseph P. Pellegrino, Jr.

			Name: Joseph P. Pellegrino, Jr.

			Title:   Chief Financial Officer

			

 

 

[Signature page to Pledge and Security Agreement]

 

 

 

 

 

	
			Accepted by:

			 

			KEYBANK NATIONAL ASSOCIATION,

			as Administrative Agent

			 

			 

			By:      /s/ Thomas A. Crandell

			Name: Thomas A. Crandell

			Title:   Senior Vice President

				 

 

 

[Signature page to Pledge and Security Agreement]

 

 

 

 

The following schedule has been omitted pursuant to Item 601(a)(5) of Regulation S-K. A copy of this schedule will be provided to the Securities and Exchange Commission upon request.

 

Schedule                           Description

Schedule 1                        Pledged CollateralEX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
  

VIASAT, INC. 
 as Issuer

 and 

WILMINGTON TRUST, NATIONAL ASSOCIATION 

as Trustee 
  

 
 Indenture

 Dated as of June 24, 2020 
  

 
 6.500% Senior
Notes due 2028 
  
  

 

 TABLE OF CONTENTS 

 

							
		 	ARTICLE 1	 			
		 	DEFINITIONS AND INCORPORATION BY REFERENCE	 			
			
	 Section 1.01.
	 	Definitions	 	 	1	
	 Section 1.02.
	 	Rules of Construction	 	 	39	
			
		 	ARTICLE 2	 			
		 	THE NOTES	 			
			
	 Section 2.01.
	 	Form, Dating and Denominations; Legends	 	 	41	
	 Section 2.02.
	 	Execution and Authentication; Additional Notes	 	 	42	
	 Section 2.03.
	 	Registrar, Paying Agent and Authenticating Agent; Paying Agent to Hold Money in Trust	 	 	43	
	 Section 2.04.
	 	Replacement Notes	 	 	44	
	 Section 2.05.
	 	Outstanding Notes	 	 	44	
	 Section 2.06.
	 	Temporary Notes	 	 	45	
	 Section 2.07.
	 	Cancellation	 	 	45	
	 Section 2.08.
	 	CUSIP and CINS Numbers	 	 	46	
	 Section 2.09.
	 	Registration, Transfer and Exchange	 	 	46	
	 Section 2.10.
	 	Restrictions on Transfer and Exchange	 	 	49	
	 Section 2.11.
	 	Offshore Global Notes	 	 	50	
			
		 	ARTICLE 3	 			
		 	REDEMPTION; OFFER TO PURCHASE	 			
			
	 Section 3.01.
	 	Optional Redemption	 	 	50	
	 Section 3.02.
	 	Mandatory Redemption	 	 	52	
	 Section 3.03.
	 	Method and Effect of Redemption	 	 	52	
	 Section 3.04.
	 	Offer to Purchase	 	 	53	
			
		 	ARTICLE 4	 			
		 	COVENANTS	 			
			
	 Section 4.01.
	 	Payment of Notes	 	 	56	
	 Section 4.02.
	 	Maintenance of Office or Agency	 	 	56	
	 Section 4.03.
	 	Reports and Other Information	 	 	57	
	 Section 4.04.
	 	Compliance Certificate	 	 	58	
	 Section 4.05.
	 	Taxes	 	 	58	
	 Section 4.06.
	 	Stay, Extension and Usury Laws	 	 	58	
	 Section 4.07.
	 	Limitation on Restricted Payments	 	 	59	
	 Section 4.08.
	 	Limitation on Restrictions on Distributions from Restricted Subsidiaries	 	 	65	
	 Section 4.09.
	 	Limitation on Indebtedness	 	 	68	
	 Section 4.10.
	 	Limitation on Asset Sales	 	 	75	
	 Section 4.11.
	 	Limitation on Affiliate Transactions	 	 	78	
	 Section 4.12.
	 	Limitation on Liens	 	 	81	
	 Section 4.13.
	 	Existence	 	 	81	

  
 i 

							
	 Section 4.14.
	 	Offer to Repurchase Upon a Change of Control	 	 	82	
	 Section 4.15.
	 	Future Subsidiary Guarantors	 	 	84	
	 Section 4.16.
	 	Maintenance of Insurance	 	 	84	
	 Section 4.17.
	 	Designation of Restricted and Unrestricted Subsidiaries	 	 	85	
	 Section 4.18.
	 	Suspension of Certain Covenants	 	 	86	
			
		 	ARTICLE 5	 			
		 	MERGER AND CONSOLIDATION	 			
			
	 Section 5.01.
	 	Merger and Consolidation	 	 	87	
	 Section 5.02.
	 	Successor Entity Substituted	 	 	89	
			
		 	 ARTICLE 6 

DEFAULTS AND REMEDIES
	 			
			
	 Section 6.01.
	 	Events of Default	 	 	90	
	 Section 6.02.
	 	Acceleration	 	 	92	
	 Section 6.03.
	 	Other Remedies	 	 	92	
	 Section 6.04.
	 	Waiver of Past Defaults	 	 	92	
	 Section 6.05.
	 	Control by Majority	 	 	92	
	 Section 6.06.
	 	Limitation on Suits	 	 	93	
	 Section 6.07.
	 	Rights of Holders to Receive Payment	 	 	93	
	 Section 6.08.
	 	Collection Suit by Trustee	 	 	93	
	 Section 6.09.
	 	Trustee May File Proofs of Claim	 	 	94	
	 Section 6.10.
	 	Priorities	 	 	94	
	 Section 6.11.
	 	Restoration of Rights and Remedies	 	 	94	
	 Section 6.12.
	 	Undertaking for Costs	 	 	94	
	 Section 6.13.
	 	Rights and Remedies Cumulative	 	 	95	
	 Section 6.14.
	 	Delay or Omission Not Waiver	 	 	95	
			
		 	ARTICLE 7	 			
		 	THE TRUSTEE	 			
			
	 Section 7.01.
	 	General	 	 	95	
	 Section 7.02.
	 	Certain Rights of Trustee	 	 	96	
	 Section 7.03.
	 	Individual Rights of Trustee	 	 	97	
	 Section 7.04.
	 	Trustee’s Disclaimer	 	 	98	
	 Section 7.05.
	 	Notice of Default	 	 	98	
	 Section 7.06.
	 	Reports by Trustee to Holders	 	 	98	
	 Section 7.07.
	 	Compensation and Indemnity	 	 	98	
	 Section 7.08.
	 	Replacement of Trustee	 	 	99	
	 Section 7.09.
	 	Successor Trustee by Merger	 	 	100	
	 Section 7.10.
	 	Eligibility	 	 	100	
	 Section 7.11.
	 	Money Held in Trust	 	 	100	
			
		 	ARTICLE 8	 			
		 	LEGAL DEFEASANCE AND COVENANT DISCHARGE	 			
			
	 Section 8.01.
	 	Option to Effect Legal Defeasance or Covenant Defeasance	 	 	100	

  
 ii 

							
	 Section 8.02.
	 	Legal Defeasance and Discharge	 	 	100	
	 Section 8.03.
	 	Covenant Defeasance	 	 	101	
	 Section 8.04.
	 	Conditions to Legal or Covenant Defeasance	 	 	102	
	 Section 8.05.
	 	Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions	 	 	103	
	 Section 8.06.
	 	Repayment to the Company	 	 	104	
	 Section 8.07.
	 	Reinstatement	 	 	104	
			
		 	ARTICLE 9	 			
		 	AMENDMENT, SUPPLEMENT AND WAIVER	 			
			
	 Section 9.01.
	 	Amendments Without Consent of Holders	 	 	104	
	 Section 9.02.
	 	Amendments with Consent of Holders	 	 	106	
	 Section 9.03.
	 	Revocation and Effect of Consents	 	 	108	
	 Section 9.04.
	 	Trustee to Sign Amendments, etc.	 	 	108	
			
		 	ARTICLE 10	 			
		 	SUBSIDIARY GUARANTEES	 			
			
	 Section 10.01.
	 	Subsidiary Guarantee	 	 	108	
	 Section 10.02.
	 	Limitation on Subsidiary Guarantor Liability	 	 	110	
	 Section 10.03.
	 	Execution and Delivery	 	 	110	
	 Section 10.04.
	 	Subrogation	 	 	111	
	 Section 10.05.
	 	Benefits Acknowledged	 	 	111	
	 Section 10.06.
	 	Release of Subsidiary Guarantees	 	 	111	
			
		 	ARTICLE 11	 			
		 	SATISFACTION AND DISCHARGE	 			
			
	 Section 11.01.
	 	Satisfaction and Discharge	 	 	112	
	 Section 11.02.
	 	Application of Trust Money	 	 	113	
			
		 	ARTICLE 12	 			
		 	MISCELLANEOUS	 			
			
	 Section 12.01.
	 	Holder Communications; Holder Actions	 	 	113	
	 Section 12.02.
	 	Notices	 	 	114	
	 Section 12.03.
	 	Certificate and Opinion as to Conditions Precedent	 	 	115	
	 Section 12.04.
	 	Statements Required in Certificate or Opinion	 	 	116	
	 Section 12.05.
	 	Payment Date Other Than a Business Day	 	 	116	
	 Section 12.06.
	 	Governing Law	 	 	116	
	 Section 12.07.
	 	Jurisdiction	 	 	116	
	 Section 12.08.
	 	Waiver of Jury Trial	 	 	116	
	 Section 12.09.
	 	No Adverse Interpretation of Other Agreements	 	 	117	
	 Section 12.10.
	 	Successors	 	 	117	
	 Section 12.11.
	 	Duplicate Originals	 	 	117	
	 Section 12.12.
	 	Separability	 	 	117	
	 Section 12.13.
	 	Table of Contents and Headings	 	 	117	

  
 iii 

							
	 Section 12.14.
	 	No Liability of Directors, Officers, Employees, Incorporators, Members and Stockholders	 	 	117	
	 Section 12.15.
	 	Force Majeure	 	 	117	
	 Section 12.16.
	 	Electronic Transmission	 	 	117	

 EXHIBITS 
  

			
	EXHIBIT A	  	 Form of Note

	EXHIBIT B	  	 Form of Supplemental Indenture

	EXHIBIT C	  	 Restricted Legend

	EXHIBIT D	  	 DTC Legend

	EXHIBIT E	  	 Regulation S Legend

	EXHIBIT F	  	 Regulation S Certificate

	EXHIBIT G	  	 Rule 144A Certificate

	EXHIBIT H	  	 Institutional Accredited Investor Certificate

  
 iv 

 INDENTURE, dated as of June 24, 2020, between Viasat, Inc., a Delaware corporation, as
the Company, and Wilmington Trust, National Association, as trustee (the “Trustee”). 
 RECITALS 

The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of up to $400,000,000 aggregate
principal amount of the Company’s 6.500% Senior Notes due 2028, and, if and when issued, any Additional Notes as provided herein (the “Notes”). All things necessary to make this Indenture a valid agreement of the Company, in
accordance with its terms, have been done, and the Company has done all things necessary to make the Notes (in the case of the Additional Notes, when duly authorized), when executed by the Company and authenticated and delivered by the Trustee and
duly issued by the Company, the valid obligations of the Company as hereinafter provided. 
 THIS INDENTURE WITNESSETH 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, the parties hereto covenant and agree, for the
equal and proportionate benefit of all Holders, as follows: 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01. Definitions. 

“Acceptable Exclusions” means: 
  

	 	(1)	 war, invasion or hostile or warlike action in time of peace or war, including action in hindering, combating or
defending against an actual, impending or expected attack by: 

  

	 	(a)	 any government or sovereign power (de jure or de facto), 

 

	 	(b)	 any authority maintaining or using a military, naval or air force, 

 

	 	(c)	 a military, naval or air force, or 

 

	 	(d)	 any agent of any such government, power, authority or force; 

 

	 	(2)	 any anti-satellite device, or device employing atomic or nuclear fission and/or fusion, or device employing
laser or directed energy beams; 

  

	 	(3)	 insurrection, strikes, labor disturbances, riots, civil commotion, rebellion, revolution, civil war,
usurpation, or action taken by a government authority in hindering, combating or defending against such an occurrence, whether there be declaration of war or not; 

	 	(4)	 confiscation, nationalization, seizure, restraint, detention, appropriation, requisition for title or use by or
under the order of any government or governmental authority or agent (whether secret or otherwise or whether civil, military or de facto) or public or local authority or agency (whether secret or otherwise); 

 

	 	(5)	 nuclear reaction, nuclear radiation, or radioactive contamination of any nature, whether such loss or damage be
direct or indirect, except for radiation naturally occurring in the space environment; 

  

	 	(6)	 electromagnetic or radio frequency interference, except for physical damage to the Covered Satellite directly
resulting from such interference; 

  

	 	(7)	 willful or intentional acts of the named insured designed to cause loss or failure of the Covered Satellite;

  

	 	(8)	 any act of one or more Persons, whether or not agents of a sovereign power, for political or terrorist purposes
and whether the loss, damage or failure resulting therefrom is accidental or intentional; 

  

	 	(9)	 any unlawful seizure or wrongful exercise of control of the Covered Satellite and/or launch vehicle made by any
Person or Persons acting for political or terrorist purposes; 

  

	 	(10)	 loss of income or revenue, incidental damages or indirect and/or consequential loss; 

 

	 	(11)	 extra expenses, except to the extent this exclusion conflicts with the insuring agreements’ provisions for
corrective measures; 

  

	 	(12)	 third party liability; 

 

	 	(13)	 loss of a redundant component(s) that does not cause a transponder or beam failure; and 

 

	 	(14)	 such other similar exclusions or modifications to the foregoing exclusions as either may be customary for
policies of such type as of the date of issuance or renewal of such coverage or may otherwise be reasonably acceptable to the Company. 

“Acquired Indebtedness” means, with respect to any specified Person, (a) Indebtedness of any Person or any of its
Subsidiaries existing at the time such Person becomes a Restricted Subsidiary or is merged, amalgamated or consolidated with or into the Company or a Restricted Subsidiary, or assumed in connection with the acquisition of assets or property from
such Person, in each case whether or not Incurred by such Person in connection with, or in anticipation or contemplation of, such Person becoming a Restricted Subsidiary or such merger, amalgamation, consolidation or acquisition, and
(b) Indebtedness secured by a Lien encumbering any asset or property acquired by such specified Person. The term “Acquired Indebtedness” does 

  
 2 

 
not include Indebtedness of a Person that is redeemed, defeased, retired or otherwise repaid at the time of or immediately upon consummation of the transactions by which such Person becomes a
Restricted Subsidiary or is merged, amalgamated or consolidated with or into the Company or a Restricted Subsidiary or such assets or property are acquired, which Indebtedness of such Person will not be deemed to be Indebtedness of the Company or
any Restricted Subsidiary. 
 “Additional Notes” means any notes issued under this Indenture in addition to the Initial
Notes, having the same terms in all respects as the Initial Notes, or in all respects except with respect to interest paid or payable on or prior to the first Interest Payment Date after the issuance of such Additional Notes. 

“Affiliate” of any specified Person means any other Person, directly or indirectly, controlling or controlled by or under
direct or indirect common control with such specified Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control
with”) when used with respect to any Person means possession, directly or indirectly, of the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or
otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Affiliate Transaction” has the meaning assigned to such term in Section 4.11(a). 

“Agent” means any Registrar, Paying Agent or Authenticating Agent. 

“Agent Members” has the meaning assigned to such term in Section 2.09(b)(3). 

“Aggregate In-Orbit Insurance Amount” means 75.0% of the
aggregate net book value of all in-orbit Covered Satellites other than Excluded Satellites. For the purposes of this definition, aggregate net book value with respect to a Covered Satellite shall exclude any
liability of a satellite purchaser to pay the satellite manufacturer any satellite performance incentive payments and any liability of a satellite manufacturer to pay the satellite purchaser any satellite performance warranty paybacks. 

“Applicable Premium” means, with respect to a Note on any date of redemption, the greater of: 

 

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

 

	 	(2)	 the excess, if any, of (a) the present value as of such date of redemption of (i) the redemption
price of such Note on July 15, 2023, (each such redemption price being described under Section 3.01) plus (ii) all required interest payments due on such Note through July 15, 2023 (excluding accrued but unpaid interest to the
date of redemption), computed using a discount rate equal to the Treasury Rate as of such date of redemption plus 50 basis points, over (b) the then-outstanding principal of such Note, as such amount is calculated by the Company.

  
 3 

 “Applicable Procedures” means, with respect to any matter at any time
relating to a Global Note, the rules, policies and procedures of the Depositary applicable to such matter. 
 “Asset Sale”
means, (a) the sale, lease (other than an operating lease entered into in the ordinary course of business), conveyance, transfer or other disposition (whether in a single transaction or a series of related transactions that are part of a common
plan) of assets or property of the Company or any Restricted Subsidiary or (b) the issuance or sale of shares of Capital Stock of a Restricted Subsidiary (other than directors’ qualifying shares and shares issued to foreign nationals or
other third parties to the extent required by applicable law), in each case by the Company or any of its Restricted Subsidiaries (each referred to for the purposes of this definition as a “disposition”). 

Notwithstanding the preceding, the following items shall not be deemed to be Asset Sales: 

 

	 	(1)	 an issuance or other disposition of Capital Stock, property or other assets by a Restricted Subsidiary to the
Company or by the Company or a Restricted Subsidiary to a Restricted Subsidiary; 

  

	 	(2)	 the disposition of Cash Equivalents in the ordinary course of business; 

 

	 	(3)	 a disposition of equipment, inventory, receivables or other tangible or intangible assets or property
(x) in the ordinary course of business or (y) to any Unrestricted Subsidiary or Permitted Joint Venture in compliance with Section 4.11; 

  

	 	(4)	 a disposition of obsolete, surplus, damaged or worn out property, equipment or other assets, or of property,
equipment or other assets that are no longer useful or economically practicable to maintain in the conduct of the business of the Company and its Restricted Subsidiaries; 

 

	 	(5)	 a disposition pursuant to a Sale/Leaseback Transaction; 

 

	 	(6)	 the disposition of all or substantially all of the assets and properties of the Company in a manner permitted
pursuant to Section 5.01 or any disposition that constitutes a Change of Control; 

  

	 	(7)	 any Restricted Payment that is permitted to be made, and is made, under Section 4.07 or any Permitted
Investment; 

  

	 	(8)	 any disposition of assets or property, or issuance or sale of Capital Stock of any Restricted Subsidiary, in a
single transaction or series of related transactions with an aggregate Fair Market Value of less than or equal to $40.0 million; 

  

	 	(9)	 the creation or incurrence of a Permitted Lien or any other Lien created or incurred in compliance with
Section 4.12 and dispositions in connection therewith; 

  
 4 

	 	(10)	 dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary
course of business or in bankruptcy or similar proceedings; 

  

	 	(11)	 the issuance and sale by a Restricted Subsidiary of Preferred Stock or Disqualified Stock that is permitted by
Section 4.09; 

  

	 	(12)	 the lease, assignment, license, sublicense or sublease of any real or personal property (including, without
limitation, of intellectual property or other general intangibles) in the ordinary course of business; 

  

	 	(13)	 without limiting the foregoing, the assignment, license, cross-license or sublicense of intellectual property
related to any satellite and/or related ground infrastructure and equipment; 

  

	 	(14)	 dispositions of satellite capacity, bandwidth, beams, transponders or threads or other grants of rights of
satellite use or of any other portion of a satellite in the ordinary course of business; 

  

	 	(15)	 dispositions of any satellite (other than the ViaSat-1 and ViaSat-2 satellites) (or any portion thereof or any rights to acquire any satellite) for Fair Market Value: (i) to any Person for whom such satellite was procured that is not an Affiliate of the Company or
(ii) where the definitive agreement for such disposition is entered into prior to such satellite entering into commercial service; 

  

	 	(16)	 a surrender or waiver of obligations of trade creditors or customers or contract rights (including, without
limitation, pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency of any trade creditor or customer) or a compromise, settlement, release or surrender of any contract, tort or other claim in the ordinary
course of business; 

  

	 	(17)	 dispositions arising from any foreclosures, condemnations, eminent domain, seizure, nationalization or any
similar actions on assets or property; 

  

	 	(18)	 any sale or other disposition of Capital Stock in, or Indebtedness or other securities of, an Unrestricted
Subsidiary; 

  

	 	(19)	 dispositions of Investments (including, without limitation, Capital Stock) in Permitted Joint Ventures to the
extent required by, or made pursuant to, the applicable joint venture agreement, stockholders agreement, partnership agreement, LLC agreement or other similar agreements or arrangements; and 

 

	 	(20)	 dispositions of accounts receivable and related assets or property (including, without limitation, collateral
securing accounts receivable, contracts and guarantees or other obligations in respect of accounts receivable, proceeds of accounts receivable and other assets or property which are customarily transferred in connection with asset securitization
transactions involving accounts receivable) 

  
 5 

	 	
in connection with the Incurrence of Indebtedness permitted by clause (21) of Section 4.09(b). 

“Asset Sale Offer” has the meaning assigned to such term in Section 4.10(d). 

“Authenticating Agent” refers to a Person engaged to authenticate the Notes in the stead of the Trustee, which Person shall
be reasonably acceptable to the Company. 
 “Authentication Order” has the meaning assigned to such term in
Section 2.02(c). 
 “Average Life” means, as of the date of determination, with respect to any Indebtedness or
Preferred Stock, the quotient obtained by dividing (1) the sum of the products of the numbers of years from the date of determination to the dates of each successive scheduled principal payment of such Indebtedness or redemption or similar
payment with respect to such Preferred Stock multiplied by the amount of such payment by (2) the sum of all such payments. 

“Board of Directors” means as to any Person, the board of directors, board of managers, sole member or managing member or
other governing body of such Person, or if such Person is owned or managed by a single entity or has a general partner, the board of directors, board of managers, sole member or managing member or other governing body of such entity or general
partner, or in each case, any duly authorized committee thereof, and the term “directors” means members of the Board of Directors. 

“Business Day” means each day that is not a Saturday, Sunday or other day on which banking institutions in New York, New York
or the place of payment are authorized or required by law to close. If a payment date at a place of payment is not on a Business Day, payment shall be made at that place on the next succeeding Business Day, and no interest shall accrue on such
payment for the intervening period. 
 “Capital Stock” of any Person means any and all shares, interests, rights to
purchase, participations (including rights to receive a share of profits or losses), equity appreciation rights or other equivalents (however designated) of or in equity of such Person, including any Preferred Stock or any limited liability company,
membership or partnership interests (whether general or limited), together with any and all warrants, options or other rights to purchase or acquire any of the foregoing, but excluding any debt securities convertible into or exchangeable for any of
the foregoing. 
 “Capitalized Lease Obligations” means an obligation that is required to be classified and
accounted for as a capitalized lease for financial reporting purposes in accordance with GAAP (but excluding any and all obligations under satellite capacity or bandwidth arrangements), and the amount of Indebtedness represented by such obligation
will be the capitalized amount of such obligation at the time any determination thereof is to be made as determined in accordance with GAAP, and the Stated Maturity thereof will be the date of the last payment of rent or any other amount due under
such lease prior to the first date such lease may be terminated without penalty; provided that all obligations of any Person that are or would have been treated as operating leases for purposes of GAAP prior to the issuance by the Financial
Accounting Standards Board on February 25, 2016 of an Accounting Standards Update (the “ASU”) shall continue to be accounted for as operating leases for purposes of all financial

  
 6 

 
definitions and calculations for purpose of this Indenture (whether or not such operating lease obligations were in effect on such date) notwithstanding the fact that such obligations are
required in accordance with the ASU (on a prospective or retroactive basis or otherwise) to be treated as Capitalized Lease Obligations in the financial statements to be delivered pursuant to Section 4.03. 

“Cash Equivalents” means: 
  

	 	(1)	 U.S. dollars, or in the case of any Foreign Subsidiary, such local currencies held by it from time to time in
the ordinary course of business; 

  

	 	(2)	 securities issued or directly and fully guaranteed or insured by the United States government or any agency or
instrumentality of the United States (provided that the full faith and credit of the United States is pledged in support thereof), having maturities of not more than one year from the date of acquisition; 

 

	 	(3)	 marketable general obligations issued by any state of the United States of America or any political subdivision
of any such state or any public instrumentality thereof maturing within one year from the date of acquisition and, at the time of acquisition, having a credit rating of “A” or better from S&P Global Ratings, “A-2” or better from Moody’s Investors Service, Inc., or “A” or better from Fitch Ratings, Inc., or carrying an equivalent rating by a nationally recognized Rating Agency, if all of the
three named Rating Agencies cease publishing ratings of investments; 

  

	 	(4)	 certificates of deposit, demand deposits, time deposits, eurodollar time deposits, overnight bank deposits or
bankers’ acceptances having maturities of not more than one year from the date of acquisition thereof issued by any commercial bank the long-term debt of which is rated at the time of acquisition thereof at least “A” or the equivalent
thereof by S&P Global Ratings, “A-2” or the equivalent thereof by Moody’s Investors Service, Inc., or “A” or the equivalent thereof by Fitch Ratings, Inc., or carrying an
equivalent rating by a nationally recognized Rating Agency, if all of the three named Rating Agencies cease publishing ratings of investments, and having combined capital and surplus in excess of $500.0 million; 

 

	 	(5)	 repurchase obligations with a term of not more than seven days for underlying securities of the types described
in clauses (2), (3) and (4) entered into with any bank meeting the qualifications specified in clause (4) above; 

  

	 	(6)	 commercial paper rated at the time of acquisition thereof at least
“A-2” or the equivalent thereof by S&P Global Ratings, “P-2” or the equivalent thereof by Moody’s Investors Service, Inc., or “F2”
or the equivalent thereof by Fitch Ratings, Inc., or carrying an equivalent rating by a nationally recognized Rating Agency, if all of the three named Rating Agencies cease publishing ratings of investments, and in any case maturing within one year
after the date of acquisition thereof; and 

  
 7 

	 	(7)	 interests in any investment company or money market fund which invests 95% or more of its assets in instruments
of the type specified in clauses (1) through (6) above. 

 “Cash Management Services” means any of
the following to the extent not constituting a line of credit (other than an overnight draft facility that is not in default): automated clearing house transactions, treasury and/ or cash management services, including, without limitation, treasury,
depository, overdraft, credit, purchasing or debit card, non-card e-payables services, electronic funds transfer, treasury management services (including controlled
disbursement services, overdraft automatic clearing house fund transfer services, return items and interstate depository network services), other demand deposit or operating account relationships, foreign exchange facilities and merchant services.

 “Certificated Note” means a certificated Note registered in the name of the Holder substantially in the form of Exhibit
A, including appropriate legends as set forth in Section 2.01(b), but that does not bear the DTC Legend and does not have the “Schedule of Exchanges of Notes” attached thereto. 

“Change of Control” means: 
  

	 	(1)	 the Company becomes aware (by way of a report or any other filing pursuant to Section 13(d) of the
Exchange Act, proxy, vote, written notice or otherwise) of the acquisition by any “person” or “group” of related persons (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) of the beneficial ownership (as
defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that such person or group shall be deemed to have “beneficial ownership” of all shares that any
such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than 50% of the total voting power of the Voting Stock of the Company; or

  

	 	(2)	 the sale, assignment, conveyance, transfer, lease or other disposition (other than by way of merger or
consolidation), in one or a series of related transactions, of all or substantially all of the assets and properties of the Company and its Subsidiaries taken as a whole to any “person” (as such term is used in Sections 13(d) and 14(d) of
the Exchange Act); or 

  

	 	(3)	 the adoption by the stockholders of the Company of a plan or proposal for the liquidation or dissolution of the
Company. 

 “Change of Control Offer” has the meaning assigned to such term in Section 4.14(b). 

“Change of Control Payment” has the meaning assigned to such term in Section 4.14(b)(1). 

“Change of Control Payment Date” has the meaning assigned to such term in Section 4.14(b)(2). 

  
 8 

 “Change of Control Triggering Event” means the occurrence of a Change of
Control that is accompanied or followed by a downgrade by one or more gradations, including gradations within ratings categories as well as between ratings categories, or withdrawal of the rating of the Notes, within the Ratings Decline Period by at
least one Rating Agency, as a result of which the rating of the Notes is below the rating by such Rating Agency in effect immediately preceding the first public announcement of the Change of Control (or occurrence thereof if such Change of Control
occurs prior to public announcement). 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Common Stock” means with respect to any Person, any and all shares of, interest or other participations in, and other
equivalents (however designated and whether voting or nonvoting) of such Person’s common stock whether or not outstanding on the Issue Date, and includes, without limitation, all series and classes of such common stock. 

“Company” means the party named as such in the first paragraph of this Indenture or any successor obligor under this
Indenture and the Notes pursuant to Article 5. 
 “Consolidated Coverage Ratio” means as of any date of
determination, with respect to any Person, the ratio of (x) the aggregate amount of the Consolidated EBITDA of such Person for the most recently ended four consecutive fiscal quarters for which internal financial statements prepared on a
consolidated basis are available, calculated on a Pro Forma Basis, to (y) Consolidated Interest Expense of such Person for such period, calculated on a Pro Forma Basis. 

“Consolidated EBITDA” means, with respect to any Person for any period, the Consolidated Net Income of such Person for such
period: 
  

	 	(1)	 increased (without duplication) by the following items to the extent deducted (other than with
respect to clause (h) below) in calculating such Consolidated Net Income: 

  

	 	(a)	 Consolidated Interest Expense; plus 

 

	 	(b)	 Consolidated Income Taxes; plus 

 

	 	(c)	 consolidated depreciation charges and expenses; plus 

 

	 	(d)	 consolidated amortization charges and expenses or impairment charges; plus 

 

	 	(e)	 earn-out obligations incurred in connection with any acquisition or
other Investment and paid or accrued during the applicable period; plus 

  

	 	(f)	 all non-cash losses, charges and expenses, including any write-offs or
write-downs (excluding (i) any such non-cash charge to the extent it represents an accrual of or reserve for cash charges that the Company reasonably expects will be settled prior to the final maturity
date of the 

  
 9 

	 	
Notes, or (ii) amortization of a prepaid cash expense that was paid in a prior period not included in the calculation); plus 

 

	 	(g)	 Restructuring Charges and any reasonable expenses or charges related to any proposed or consummated Equity
Offering, Investment, acquisition, Incurrence of Indebtedness or recapitalization; provided that any amounts added to Consolidated EBITDA pursuant to this clause will not exceed 20.0% of Consolidated EBITDA for such period (determined
prior to giving effect to the addbacks contemplated by this clause (g)); plus 

  

	 	(h)	 Pro Forma Cost Savings; 

 

	 	(2)	 decreased (without duplication and to the extent increasing Consolidated Net Income of such Person for
such period) by non-cash gains or income (excluding any items which represent the reversal of any accrual of, or reserve for, anticipated cash charges that were deducted (and not added back) in the calculation
of Consolidated EBITDA in any prior period ending after the Issue Date); 

  

	 	(3)	 increased (with respect to losses) or decreased (with respect to gains) by (without
duplication) any net cash or realized gains and losses relating to (i) amounts denominated in foreign currencies resulting from the application of the Financial Accounting Standards Board’s Accounting Standards Codification 830 (including
net realized cash or gains and losses from exchange rate fluctuations on intercompany balances and balance sheet items, net of realized gains or losses from related Hedging Obligations (entered into in the ordinary course of business or consistent
with past practice)) or (ii) any other amounts denominated in or otherwise trued-up to provide similar accounting as if they were denominated in foreign currencies; and 

 

	 	(4)	 increased (with respect to losses) or decreased (with respect to gains) by (without duplication)
any gain or loss relating to Hedging Obligations (excluding Hedging Obligations entered into in the ordinary course of business or consistent with past practice). 

“Consolidated Income Taxes” means, with respect to any Person for any period, taxes imposed upon such Person or other
payments required to be made by such Person by any governmental authority which taxes or other payments are calculated by reference to the income or profits or capital of such Person or such Person and its Restricted Subsidiaries (to the extent such
income or profits were included in computing Consolidated Net Income for such period), including, without limitation, federal, state, franchise, excise, property and similar taxes and foreign withholding taxes paid or accrued, regardless of whether
such taxes or payments are required to be remitted to any governmental authority. 
 “Consolidated Interest Expense” means,
with respect to any Person for any period, the sum (without duplication) of: 

  
 10 

	 	(1)	 the aggregate interest expense of such Person and its Restricted Subsidiaries for such period, calculated on a
consolidated basis in accordance with GAAP, to the extent that such expense was deducted (and not added back) in computing Consolidated Net Income (including pay in kind interest payments, amortization of original issue discount, the interest
component of Capitalized Lease Obligations and net payments and receipts (if any) pursuant to Hedging Obligations (other than in connection with the early termination thereof), but excluding (a) any
non-cash interest expense attributable to the movement in the mark-to-market valuation of Indebtedness, Hedging Obligations or
other derivative instruments, (b) all amortization and write-offs of deferred financing fees, debt issuance costs, commissions, discounts, fees and expenses and expensing of any bridge, commitment or other financing fees, costs of surety bonds,
charges owed with respect to letters of credit, bankers’ acceptances or similar facilities, and (c) all discounts, commissions, fees and other charges associated with any receivables financing); plus 

 

	 	(2)	 interest actually paid by the Company or any such Restricted Subsidiary under any Guarantee of Indebtedness or
other obligation of any other Person; plus 

  

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

  

	 	(4)	 interest income of such Person and its Restricted Subsidiaries for such period to the extent included in
Consolidated Net Income; plus 

  

	 	(5)	 Receivables Fees; plus 

 

	 	(6)	 interest expense attributable to Capitalized Lease Obligations and the interest component of any deferred
payment obligations; plus 

  

	 	(7)	 amortization of debt discount (including the amortization of original issue discount resulting from the
issuance of Indebtedness at less than par) and debt issuance cost; provided, however, that any amortization of bond premium will be credited to reduce Consolidated Interest Expense unless, pursuant to GAAP, such amortization of bond
premium has otherwise reduced Consolidated Interest Expense; plus 

  

	 	(8)	 the product of (a) all dividends paid or payable, in cash, Cash Equivalents or Indebtedness or accrued
during such period on any series of Disqualified Stock of such Person or on Preferred Stock of its Restricted Subsidiaries that are not Subsidiary Guarantors payable to a party other than the Company or a Wholly Owned Subsidiary, times (b) a
fraction, the numerator of which is one and the denominator of which is one minus the then current combined federal, state, provincial and local statutory tax rate of such Person, expressed as a decimal, in each case, on a consolidated basis and in
accordance with GAAP; 

 provided, that, in the case of any Person that became a Restricted Subsidiary of such Person after the
commencement of such four-quarter period, the interest expense of such Person paid in cash 

  
 11 

 
prior to the date on which it became a Restricted Subsidiary of such Person will be disregarded. For purposes of this definition, interest on Capitalized Lease Obligations will be deemed to
accrue at the interest rate reasonably determined by such Person to be the rate of interest implicit in such Capitalized Lease Obligations in accordance with GAAP. 

“Consolidated Leverage Ratio,” means, with respect to any Person as of any date, the ratio of: (1) the sum of
(a) the aggregate principal amount of Indebtedness of such Person and its Restricted Subsidiaries outstanding on such date, determined on a consolidated basis, to the extent required to be recorded on a balance sheet in accordance with GAAP,
minus (b) the amount of unrestricted Cash Equivalents of such Person and its Restricted Subsidiaries as of such date on a consolidated basis, in each case, calculated on a Pro Forma Basis, to (2) the Consolidated EBITDA of such Person for
the most recently ended four consecutive fiscal quarters for which internal financial statements prepared on a consolidated basis are available, calculated on a Pro Forma Basis. 

“Consolidated Net Income” means, with respect to any Person for any period, the aggregate of the net income (loss) of such
Person and its Restricted Subsidiaries for such period, calculated on a consolidated basis in accordance with GAAP; provided, however, that these will not be included in such Consolidated Net Income on an
after-tax basis (without duplication): 
  

	 	(1)	 any net income (loss) of any Person if such Person is not a Restricted Subsidiary or that is accounted for by
the equity method of accounting, except that, subject to the limitations contained in clauses (3) through (7) below, the Company’s equity in the net income of any such Person for such period will be included in such Consolidated Net Income
up to the aggregate amount of cash actually distributed by such Person during such period to the Company or a Restricted Subsidiary as a dividend or other distribution (subject, in the case of a dividend or other distribution to a Restricted
Subsidiary, to the limitations contained in clause (2) below); 

  

	 	(2)	 solely for the purpose of determining the amount available for Restricted Payments under clause (4)(C)(i) of
Section 4.07(a), any net income (but not loss) of any Restricted Subsidiary (other than a Subsidiary Guarantor) if such Subsidiary is subject to prior government approval or other restrictions due to the operation of its charter or any
agreement, instrument, judgment, decree, order statute, rule or government regulation (which have not been waived), directly or indirectly, on the payment of dividends or the making of distributions by such Restricted Subsidiary, directly or
indirectly, to the Company, except that, subject to the limitations contained in clauses (3) through (7) below, the Company’s equity in the net income of any such Restricted Subsidiary for such period will be included in such Consolidated
Net Income up to the aggregate amount of cash that could have been distributed by such Restricted Subsidiary during such period to the Company or another Restricted Subsidiary as a dividend (subject, in the case of a dividend to another Restricted
Subsidiary, to the limitation contained in this clause); 

  
 12 

	 	(3)	 any gain or loss (less all fees and expenses relating thereto) realized upon sales or other dispositions of any
assets of the Company or such Restricted Subsidiary, other than in the ordinary course of business; 

  

	 	(4)	 any after-tax effect of income (loss) from the early extinguishment of
Indebtedness or Hedging Obligations or other derivative instruments; 

  

	 	(5)	 any net income or loss included in the consolidated statement of operations with respect to noncontrolling
interests due to the application of Accounting Standards Codification Topic 810, Consolidation; 

  

	 	(6)	 any net after-tax extraordinary gain or loss; and

  

	 	(7)	 the cumulative effect of a change in accounting principles. 

“Consolidated Senior Secured Debt Ratio,” means, with respect to any Person as of any date, the ratio of: (1)
(a) the aggregate outstanding Secured Indebtedness of such Person and its Restricted Subsidiaries outstanding on such date, determined on a consolidated basis, to the extent required to be recorded on a balance sheet in accordance with GAAP,
minus (b) the amount of unrestricted Cash Equivalents of such Person and its Restricted Subsidiaries as of such date on a consolidated basis, in each case, calculated on a Pro Forma Basis, to (2) the Consolidated EBITDA of such
Person for the most recently ended four consecutive fiscal quarters for which internal financial statements prepared on a consolidated basis are available, calculated on a Pro Forma Basis. 

“Convertible Notes” means Indebtedness of the Company that is optionally convertible into Common Stock of the Company (and/or
cash based on the value of such Common Stock) and/or Indebtedness of a Subsidiary of the Company that is optionally exchangeable for Common Stock of the Company (and/or cash based on the value of such Common Stock). 

“Corporate Trust Office” means, with respect to the Trustee, the office of the Trustee at which at any time its corporate
trust business relating to this Indenture shall be administered, which such office on the date hereof shall be the address of the Trustee specified in Section 12.02 hereof or such other address as to which the Trustee may give notice to the
Holders and the Company, or the principal corporate trust office of any successor trustee (or such address as such successor trustee may designate by notice to the Holders and the Company). 

“Covenant Defeasance” has the meaning assigned to such term in Section 8.03. 

“Covered Satellite” means any Satellite or a portion of a Satellite, as applicable, with respect to which the Company or any
of its Restricted Subsidiaries owns or retains risk of loss. 
 “Debt Facility” means one or more debt facilities
(including, without limitation, the Senior Credit Facility and the Ex-Im Credit Facility) or commercial paper facilities or indentures with banks or other institutional lenders or trustees providing for
revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables) or letters of credit or issuances of
debt securities evidenced by notes, debentures, bonds or similar 

  
 13 

 
instruments, in each case, as amended, restated, modified, renewed, refunded, replaced or refinanced (including by means of sales of debt securities to institutional investors) in whole or in
part from time to time (and whether or not with the original administrative agent, lenders or trustee or another administrative agent or agents, other lenders or trustee and whether provided under the original Senior Credit Facility, the original Ex-Im Credit Facility or any other credit or other agreement or indenture). 
 “Default”
means any event that is, or after notice or passage of time or both would be, an Event of Default. 
 “Depositary” means
the depositary of each Global Note, which will initially be DTC. 
 “Designated Noncash Consideration” means the Fair
Market Value of noncash consideration received by the Company or one of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Noncash Consideration by the Company, less the amount of cash or Cash
Equivalents received in connection with a subsequent sale or other disposition of or payment or collection on such Designated Noncash Consideration. 

“Disqualified Stock” means, with respect to any Person, any Capital Stock of such Person that by its terms (or by the terms
of any security into which it is convertible or for which it is exchangeable), in each case at the option of the holder thereof or upon the happening of any event: 
  

	 	(1)	 matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise (other than as a result
of a change of control or asset sale; provided that the relevant asset sale or change of control provisions, taken as a whole, are no more favorable in any material respect to holders of such Capital Stock than the asset sale and change of
control provisions applicable to the Notes and any purchase requirement triggered thereby may not become operative until compliance with the asset sale and change of control provisions applicable to the Notes (including the purchase of any Notes
tendered pursuant thereto)); 

  

	 	(2)	 is convertible into or exchangeable for Indebtedness or Disqualified Stock (excluding Capital Stock which is
convertible or exchangeable solely at the option of the Company or a Restricted Subsidiary (it being understood that upon such conversion or exchange it shall be an Incurrence of such Indebtedness or Disqualified Stock)); or 

 

	 	(3)	 is redeemable at the option of the holder of the Capital Stock in whole or in part, 

in each case on or prior to the date 91 days after the earlier of the final maturity date of the Notes or the date the Notes are no longer outstanding;
provided, however, that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such date will be deemed to be
Disqualified Stock; provided, further, that if such Capital Stock is issued to any employee or to any plan for the benefit of employees of the Company or its Subsidiaries or a direct or indirect parent of the Company or by any such plan to
such employees, such Capital Stock shall not constitute Disqualified Stock solely because they may be required to be repurchased by the 

  
 14 

 
Company or its Subsidiaries or a direct or indirect parent of the Company in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s termination,
death or disability. 
 “DTC” means The Depository Trust Company, a New York corporation, and its successors. 

“DTC Legend” means the legend set forth in Exhibit D. 

“ECA Indebtedness” means any Indebtedness issued to or owed to or guaranteed or otherwise supported by any export credit
agency (whether of the United States or any foreign jurisdiction and including, without limitation, Export-Import Bank of the United States, Compagnie Française d’Assurance pour le Commerce Extérieur, Nippon Export and Investment
Insurance and any other government export credit agency) or institution serving a similar function for the purpose of financing (in whole or in part) the purchase, acquisition, design, construction, manufacture, installation, testing, delivery or
launch of one or more satellites and/or any gateway facilities, earth stations and other ground infrastructure (including user terminals and hub equipment) relating thereto or any similar services with respect to any or all of the foregoing, and any
insurance premiums, fees, costs and expenses with respect to any of the foregoing. 
 “Equity Offering” means a public
offering or private sale for cash by the Company or any direct or indirect parent of the Company of Capital Stock (other than Disqualified Stock), other than (x) public offerings with respect to the Company’s Capital Stock, registered on
Form S-4 or S-8, (y) an issuance to any Subsidiary of the Company or (z) any offering of the Company’s Common Stock issued in connection with a transaction
that constitutes a Change of Control. 
 “Euro Infrastructure Co.” means Euro Broadband Infrastructure Sàrl, a
Switzerland société à responsabilité limitée. 
 “Euro Retail Co.” means Viasat Europe
Sàrl, a Switzerland société à responsabilité limitée. 
 “Event of Default” has
the meaning assigned to such term in Section 6.01. 
 “Excess Proceeds” has the meaning assigned to such term in
Section 4.10(d). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC promulgated thereunder. 
 “Excluded Satellite” means any (a) Covered Satellite that has a book
value of less than $50.0 million, (b) Covered Satellite that is not expected or intended, in the good faith determination of the Company, to earn revenue from the operation of such Covered Satellite in excess of $75.0 million for the
immediately succeeding 12-month calendar period, (c) Covered Satellite with one year or less of in-orbit life remaining (it being understood and agreed that such
Covered Satellite shall be deemed to have “in-orbit life” only for so long as it is maintained in station kept orbit in a manner consistent with applicable governmental and ITU requirements),

  
 15 

 
(d) Covered Satellite for which the procurement of In-Orbit Insurance in the amounts and on the terms required herein would not be available at a premium
amount that is, and on other terms and conditions that are, commercially reasonable despite commercially reasonable efforts to obtain such coverage (including efforts to minimize the exclusions and insurance deductibles, subject to usual and
customary exclusions consistent with the operating status of the Covered Satellite) and (e) Covered Satellite designated as an Excluded Satellite by the Company if the Company determines in good faith that (i)(A) such Covered Satellite’s
performance and/or operating status has been adversely affected by anomalies or component exclusions and the Company and its Restricted Subsidiaries are unlikely to receive insurance proceeds from a future failure thereof or (B) there are
systemic failures or anomalies applicable to satellites of the same model or using the same components and (ii) the Company and its Restricted Subsidiaries are unlikely to obtain usual and customary coverage in the satellite insurance market
for the Covered Satellite at a premium amount that is, and on other terms and conditions that are, commercially reasonable despite commercially reasonable efforts to obtain such coverage (including efforts to minimize the exclusions and insurance
deductibles, subject to usual and customary exclusions consistent with the anomalies and/or operating status of the Covered Satellite). 

“Ex-Im Credit Facility” means the Credit Agreement dated as of March 12, 2015, among
Viasat Technologies Limited, the Company, JPMorgan Chase Bank, National Association (as Ex-Im facility agent) and the Export-Import Bank of the United States, as amended through the Issue Date and as the same
may be further amended, restated, supplemented, modified, renewed, extended, refunded, restructured, replaced or refinanced in whole or in part from time to time (including increasing the amount loaned thereunder, provided that such
additional Indebtedness is Incurred in accordance with Section 4.09), and in each case including any notes, mortgages, guarantees, collateral documents, instruments and agreements executed in connection therewith. 

“Existing Notes due 2025” means the Company’s 5.625% Senior Notes due 2025. 

“Existing Notes due 2027” means the Company’s 5.625% Senior Secured Notes due 2027. 

“Fair Market Value” means, with respect to any asset or property, the price that could be negotiated in an arm’s-length, free market transaction, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction (as determined in good faith by
the Company, whose determination will be conclusive for all purposes under this Indenture and the Notes). 
 “Fixed GAAP
Date” means April 1, 2018; provided, that at any time and from time to time after the Issue Date, the Company may by written notice to the Trustee elect to change the Fixed GAAP Date to be the date specified in such notice, and
upon such notice, the Fixed GAAP Date shall be such date for all periods beginning on and after the date specified in such notice. 

“Foreign Subsidiary” means any Restricted Subsidiary that is not organized under the laws of the United States of America or
any state thereof or the District of Columbia and any direct or indirect Subsidiary of such Restricted Subsidiary. 

  
 16 

 “GAAP” means generally accepted accounting principles in the United States
of America as in effect as of the Fixed GAAP Date, including those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the
Financial Accounting Standards Board or in such other statements by such other entity as approved by a significant segment of the accounting profession. All ratios and computations based on GAAP contained in this Indenture will be computed in
conformity with GAAP, except that in the event the Company is acquired in a transaction that is accounted for using purchase accounting, the effects of the application of purchase accounting shall be disregarded in the calculation of such ratios and
other computations contained in this Indenture. 
 “Global Note” means a Note in registered global form substantially in
the form of Exhibit A hereto, including appropriate legends as set forth in Section 2.01(b). 
 “Guarantee” means, as
to any Person, any obligation, contingent or otherwise, of such Person directly or indirectly guaranteeing, any Indebtedness of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person: 

 

	 	(1)	 to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such other
Person (whether arising by virtue of partnership arrangements, or by agreement to keep-well, to purchase assets, properties, goods, securities or services, to
take-or-pay, or to maintain financial statement conditions or otherwise); or 

  

	 	(2)	 entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment
thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided, however, that the term “Guarantee” will not include endorsements for collection or deposit in the ordinary course of
business. The term “Guarantee” used as a verb has a corresponding meaning. 

 “Guarantor Subordinated
Obligation” means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of
such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement. 
 “Hedging Obligations” means,
with respect to any Person, the obligations of such Person under any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, commodity swap agreement, commodity cap agreement, commodity collar agreement, foreign
exchange contract, currency swap agreement or similar agreement providing for the transfer, modification or mitigation of interest rate, currency, commodity risks or equity risks either generally or under specific contingencies. 

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

“IAI Global Note” means a Global Note resold to Institutional Accredited Investors bearing the Restricted Legend. 

  
 17 

 “In-Orbit Insurance” means, with
respect to any Covered Satellite, insurance or other contractual arrangement providing for coverage against the risk of loss of or damage to such Covered Satellite attaching upon the expiration of the launch insurance therefor (or, if launch
insurance is not procured, upon the initial completion of in-orbit testing) and attaching, during the commercial in-orbit service of such Covered Satellite, upon the
expiration of the immediately preceding corresponding policy or other contractual arrangement, as the case may be, subject to the terms and conditions set forth in this Indenture. 

“In-Orbit Spare Capacity” means a satellite or the payload of a satellite that: 

 

	 	(1)	 is available in the event of a Covered Satellite loss or failure in order to restore service on the Covered
Satellite; 

  

	 	(2)	 meets or exceeds the contractual performance specifications for the payload being protected; and

  

	 	(3)	 may be provided directly by the Company or a Restricted Subsidiary or by another satellite operator pursuant to
a contractual arrangement. 

 “Incur” means, with respect to any Indebtedness, Capital Stock or Lien, to
issue, assume, Guarantee, incur or otherwise become liable for such Indebtedness, Capital Stock or Lien; provided, however, that any Indebtedness, Capital Stock or Lien of a Person existing at the time such Person becomes a Restricted
Subsidiary (whether by merger, amalgamation, consolidation, acquisition or otherwise) will be deemed to be Incurred by such Restricted Subsidiary at the time it becomes a Restricted Subsidiary; and the terms “Incurred” and
“Incurrence” have meanings correlative to the foregoing. 
 “Indebtedness” means, with respect to any Person on
any date of determination (without duplication): 
  

	 	(1)	 the principal of and premium (if any) in respect of any indebtedness of such Person in respect of borrowed
money, if and to the extent that such indebtedness would appear as a liability on a balance sheet (excluding the notes thereto) of such Person prepared in accordance with GAAP; 

 

	 	(2)	 the principal of and premium (if any) in respect of any indebtedness of such Person evidenced by bonds,
debentures, notes or other similar instruments, if and to the extent that such indebtedness would appear as a liability on a balance sheet (excluding the notes thereto) of such Person prepared in accordance with GAAP; 

 

	 	(3)	 the principal component of all obligations of such Person in respect of letters of credit, bankers’
acceptances or other similar instruments (including reimbursement obligations with respect thereto except to the extent such reimbursement obligation relates to a trade payable and such obligation is satisfied within 30 days of Incurrence);

  

	 	(4)	 the principal component of all obligations of such Person to pay the deferred and unpaid purchase price of
property, which purchase price is due more than one 

  
 18 

	 	
year after the date of placing such property in service or taking delivery and title thereto (except any such balance that constitutes a trade payable or similar obligation to a trade creditor,
in each case accrued in the ordinary course of business), in each case if and to the extent that such obligations would appear as a liability on a balance sheet (excluding the notes thereto) of such Person prepared in accordance with GAAP;

  

	 	(5)	 the principal of any indebtedness of such Person in respect of Capitalized Lease Obligations;

  

	 	(6)	 the principal component or liquidation preference of all obligations of such Person with respect to the
redemption, repayment or other repurchase of any Disqualified Stock or, with respect to any Non-Guarantor Subsidiary, any Preferred Stock (but excluding, in each case, any accrued dividends);

  

	 	(7)	 to the extent not otherwise included in this definition, Indebtedness of another Person secured by a Lien on
any asset or property of such Person, whether or not such Indebtedness is assumed by such Person; provided, however, that the amount of such Indebtedness will be the lesser of (a) the Fair Market Value of such asset or
property at such date of determination and (b) the amount of such Indebtedness of such other Person; 

  

	 	(8)	 to the extent not otherwise included in this definition, any Guarantee by such Person of the Indebtedness of
another Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business); and 

  

	 	(9)	 to the extent not otherwise included in this definition, net obligations of such Person under Hedging
Obligations (the amount of any such obligations to be equal at any time to the termination value of such agreement or arrangement giving rise to such Obligation that would be payable by such Person at such time). 

The term “Indebtedness” shall not include any lease, concession or license of property (or guarantee thereof) that would be considered an operating
lease under GAAP as in effect on the Issue Date, any prepayments of deposits received from clients or customers in the ordinary course of business or consistent with past practices, or obligations under any license, permit or other approval (or
guarantees given in respect of such obligations) Incurred prior to the Issue Date or in the ordinary course of business or consistent with past practices. 

Notwithstanding the foregoing, in no event shall the following constitute Indebtedness: (1) money borrowed and set aside at the time of the Incurrence of
any Indebtedness in order to pre-fund the payment of interest on such Indebtedness; provided that such money is held to secure the payment of such interest; (2) obligations to make payments to one
or more insurers under satellite insurance policies in respect of premiums or the requirement to remit to such insurer(s) a portion of the future revenues generated by a satellite which has been declared a constructive total loss, in each case in
accordance with the terms of the insurance policies relating thereto; (3) obligations to make progress or incentive payments (including any in-orbit incentive payments) or other deferred payments earned
during the life of a satellite under any satellite manufacturing 

  
 19 

 
contract or to make payments under satellite launch contracts in respect of launch services provided thereunder; (4) obligations under satellite capacity or bandwidth arrangements (whether
or not classified and accounted for as a capitalized lease for financial reporting purposes in accordance with GAAP); (5) any balance that constitutes a trade payable, accrued expense or similar obligation to a trade creditor, in each case Incurred
in the ordinary course of business; (6) prepaid or deferred revenue arising in the ordinary course of business; (7) Cash Management Services; (8) in connection with the purchase by the Company or any Restricted Subsidiary of any
business, any post-closing payment adjustments to which the seller may become entitled to the extent such payment is determined by a final closing balance sheet or such payment depends on the performance of such business after the closing;
provided, however, that, at the time of closing, the amount of any such payment is not determinable and, to the extent such payment thereafter becomes fixed and determined, the amount is paid in a timely manner; and (9) obligations, to
the extent such obligations would otherwise constitute Indebtedness, under any agreement that has been irrevocably defeased or irrevocably satisfied and discharged pursuant to the terms of such agreement. 

“Indenture” means this indenture, as amended or supplemented from time to time. 

“Independent Financial Advisor” means an accounting, appraisal, investment banking firm or consultant, in each case of
nationally recognized standing that is, in the good faith determination of the Company, qualified to perform the task for which it has been engaged. 

“Initial Notes” means the Notes issued on the Issue Date and any Notes issued in replacement thereof. 

“Initial Purchasers” means the initial purchasers party to a purchase agreement with the Company relating to the sale of the
Notes or Additional Notes by the Company. 
 “Institutional Accredited Investor” means an institutional “accredited
investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act). 
 “Institutional Accredited Investor
Certificate” means a certificate substantially in the form of Exhibit H hereto. 
 “Interest Payment Date” means
each January 15 and July 15 of each year. 
 “Investment Grade Rating” means a rating equal to or higher than
Baa3 (or the equivalent) by Moody’s Investors Service, Inc., BBB- (or the equivalent) by S&P Global Ratings, or BBB- (or the equivalent) by Fitch Ratings, Inc. or any equivalent rating by any other Rating Agency. 

“Investments” means, with respect to any Person (1) all investments by such Person in other Persons (including
Affiliates) in the form of (a) loans (including Guarantees), (b) advances or capital contributions (excluding accounts receivable, trade credit and advances or other payments made to customers, dealers, suppliers and distributors and payroll,
commission, travel and similar advances to officers, directors, managers, employees, consultants and independent contractors in the ordinary course of business) or (c) purchases or other acquisitions for consideration of Indebtedness, Capital
Stock or other securities issued by any such other Person 

  
 20 

 
and (2) investments that are required by GAAP to be classified on the balance sheet of the Company in the same manner as the other investments included in clause (1) of this definition
to the extent that such transactions involve the transfer of cash or other property; provided that Investments shall not include: 
  

	 	(1)	 intercompany receivables and payables (including with Unrestricted Subsidiaries and Permitted Joint Ventures)
in the ordinary course of business in exchange for goods and services on an arm’s length basis; 

  

	 	(2)	 Hedging Obligations entered into in the ordinary course of business and in compliance with this Indenture;

  

	 	(3)	 endorsements of negotiable instruments and documents in the ordinary course of business; and

  

	 	(4)	 an acquisition of assets, property, Capital Stock or other securities by the Company or a Subsidiary for
consideration to the extent such consideration consists of Common Stock of the Company. 

 For purposes of
Section 4.07: 
  

	 	(1)	 “Investment” will include the portion (proportionate to the Company’s equity interest in such
Subsidiary) of the Fair Market Value of the net assets of a Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as
a Restricted Subsidiary, the Company will be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to (a) the Company’s aggregate “Investment” in such
Subsidiary as of the time of such redesignation less (b) the portion (proportionate to the Company’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of such Subsidiary at the time of such
designation; and 

  

	 	(2)	 any assets or property transferred to or from an Unrestricted Subsidiary will be valued at its Fair Market
Value at the time of such transfer. 

 “Issue Date” means June 24, 2020. 

“Legal Defeasance” has the meaning assigned to such term in Section 8.02. 

“Lien” means, with respect to any asset or property, any mortgage, lien, pledge, hypothecation, charge, security interest,
preference, priority or encumbrance of any kind in respect of such asset or property, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the
nature thereof, any option or other agreement to sell or give a security interest in any asset or property and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any
jurisdiction); provided that in no event shall an operating lease or an agreement to sell be deemed to constitute a Lien. 

  
 21 

 “Limited Condition Transaction” means (1) any Restricted Payment,
acquisition or other Investment permitted under this Indenture by the Company or one or more of its Restricted Subsidiaries whose consummation is not conditioned on the availability of, or on obtaining, third party financing and (2) any
repayment, repurchase or refinancing of Indebtedness, Disqualified Stock or Preferred Stock with respect to which a notice of repayment (or similar notice) has been issued. 

“Net Cash Proceeds” means the aggregate cash proceeds (using the Fair Market Value of any Cash Equivalents) received by the
Company or any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash received in respect of or upon the sale or other disposition of any Designated Noncash Consideration received in any Asset Sale and
any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by the acquiring Person of Indebtedness relating to the
disposed assets or other consideration received in any other non-cash form), net of the direct cash costs relating to such Asset Sale and the sale or disposition of such Designated Noncash Consideration
(including, without limitation, legal, accounting and investment banking fees, and brokerage and sales commissions), and any relocation expenses incurred as a result thereof, taxes paid or payable as a result thereof (after taking into account any
available tax credits or deductions and any tax sharing arrangements related thereto), amounts required to be applied to the repayment of principal of, premium, if any, and interest on Indebtedness required (other than pursuant to
Section 4.10(b)) to be paid as a result of such transaction, any costs associated with unwinding any related Hedging Obligations in connection with such transaction and any deduction of appropriate amounts to be provided by the Company or any
of its Restricted Subsidiaries as a reserve in accordance with GAAP against any liabilities associated with the asset or property disposed of in such transaction and retained by the Company or any of its Restricted Subsidiaries after such sale or
other disposition thereof, including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. 

“Non-Guarantor Subsidiary” means any Restricted Subsidiary that is not a Subsidiary
Guarantor. 
 “Non-Recourse Debt” means Indebtedness of a Person: 

 

	 	(1)	 as to which neither the Company nor any Restricted Subsidiary (a) provides any Guarantee or credit support
of any kind (including any undertaking, Guarantee, indemnity, agreement or instrument that would constitute Indebtedness) or (b) is directly or indirectly liable (as a guarantor or otherwise); and 

 

	 	(2)	 as to which the lenders will not have any contractual recourse to the Capital Stock or assets of the Company or
any of its Restricted Subsidiaries (other than the Capital Stock of an Unrestricted Subsidiary). 

 “Non-U.S. Person” means a Person that is not a “U.S. person,” as defined in Regulation S. 

  
 22 

 “Notes” has the meaning assigned to such term in the Recitals. The Initial
Notes and the Additional Notes shall be treated as a single class for all purposes under this Indenture and, unless the context otherwise requires, all references to the Notes shall include the Initial Notes and any Additional Notes. 

“Obligations” means any principal, interest (including any interest accruing subsequent to the filing of a petition in
bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under applicable state, federal or foreign law), premiums, penalties, fees,
indemnifications, reimbursements (including reimbursement obligations with respect to letters of credit and banker’s acceptances), damages and other liabilities, payable by the Company or Subsidiary Guarantors under the documentation governing
any Indebtedness. 
 “Offer to Purchase” has the meaning assigned to such term in Section 3.04. 

“Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the Chief
Operating Officer, Chief Financial Officer, any Executive Vice President, Senior Vice President or Vice President, the Controller, the Treasurer or the Secretary (or any person serving the equivalent function of any of the foregoing) of such Person.

 “Officers’ Certificate” means a certificate signed by two Officers or by an Officer and either an Assistant
Treasurer or an Assistant Secretary of the Company or a direct or indirect parent of the Company. 
 “Offshore Global Note”
means a Global Note representing Notes issued and sold pursuant to Regulation S. 
 “Opinion of Counsel” means a written
opinion from legal counsel. The counsel may be an employee of or counsel to the Company. 
 “Pari Passu Indebtedness” means
Indebtedness that ranks pari passu in right of payment to the Notes or, with respect to any Subsidiary Guarantor, such Subsidiary Guarantor’s Subsidiary Guarantee. 

“Paying Agent” refers to a Person engaged by the Company to perform the obligations of the Trustee in respect of payments to
be made or funds to be held hereunder in respect of the Notes. 
 “Permitted Asset Swap” means the purchase and sale or
exchange of assets related to a Similar Business (or a combination of such assets and cash or Cash Equivalents) between the Company or any of its Restricted Subsidiaries, on the one hand, and another Person, on the other hand; provided that
(1) such purchase and sale or exchange must occur within 90 days of each other and (2) any cash or Cash Equivalents received must be applied in accordance with Section 4.10. 

“Permitted Bond Hedge” means any call options or capped call options referencing the Company’s Common Stock purchased by
the Company concurrently with the issuance of 

  
 23 

 
Convertible Notes to hedge the Company’s or any Subsidiary issuer’s obligations under such Indebtedness. 

“Permitted Debt” has the meaning assigned to such term in Section 4.09(b). 

“Permitted Investment” means an Investment by the Company or any Restricted Subsidiary in: 

 

	 	(1)	 the Company or a Restricted Subsidiary; 

 

	 	(2)	 a Person that is engaged in a Similar Business if, as a result of such Investment: 

 

	 	(a)	 such Person becomes a Restricted Subsidiary; or 

 

	 	(b)	 such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated
with or into, or transfers or conveys all or substantially all of its assets to, or is liquidated into, the Company or a Restricted Subsidiary, 

and, in each case, any Investment held by such Person; provided that such Investment was not acquired by such Person in contemplation of
such acquisition, merger, amalgamation, consolidation, transfer, conveyance or liquidation; 
  

	 	(3)	 cash and Cash Equivalents, and Investments that were Cash Equivalents when made; 

 

	 	(4)	 receivables owing to the Company or any Restricted Subsidiary created or acquired in the ordinary course of
business and payable or dischargeable in accordance with customary trade terms or such other concessionary trade terms as the Company or any such Restricted Subsidiary deems reasonable under the circumstances; 

 

	 	(5)	 commission, payroll and similar advances to cover matters that are expected at the time of such advances
ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business; 

  

	 	(6)	 loans or advances to officers, directors, employees, managers, consultants and independent contractors of the
Company or any Restricted Subsidiary for business-related travel and entertainment expenses, moving and relocation expenses and similar expenses, in each case in the ordinary course of business; 

 

	 	(7)	 loans or advances to, or guarantees of Indebtedness of, officers, directors, employees, managers, consultants
and independent contractors of the Company or any Restricted Subsidiary in an aggregate amount not in excess of $15.0 million at any one time outstanding; 

 

	 	(8)	 any Investment acquired by the Company or any of its Restricted Subsidiaries: 

  
 24 

	 	(a)	 in exchange for any other Investment or accounts receivable held by the Company or any such Restricted
Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable; 

 

	 	(b)	 in satisfaction of judgments or received in compromise, settlement or resolution of obligations of trade
creditors, customers, dealers or distributors that were incurred in the ordinary course of business or of any litigation, arbitration or other dispute; or 

  

	 	(c)	 as a result of a foreclosure or other remedial action by the Company or any of its Restricted Subsidiaries with
respect to any secured Investment or other transfer of title with respect to any Investment in default; 

  

	 	(9)	 Investments made as a result of (a) the receipt of non-cash
consideration from an Asset Sale that was made pursuant to and in compliance with Section 4.10; or (b) any other disposition of assets or property not constituting an Asset Sale; 

 

	 	(10)	 any Investment (a) in existence on the Issue Date, (b) made pursuant to binding commitments in effect
on the Issue Date, or (c) that replaces, refinances, refunds, renews or extends any Investment described under either of the immediately preceding clauses (b) or (c), provided that any such Investment is in an amount that
does not exceed the amount replaced, refinanced, refunded, renewed or extended, except as contemplated pursuant to the terms of such Investment in existence on the Issue Date or as otherwise permitted under this definition or under
Section 4.07; 

  

	 	(11)	 Hedging Obligations, Cash Management Services and Guarantees permitted under Section 4.09;

  

	 	(12)	 intercompany current liabilities owed to Unrestricted Subsidiaries or Permitted Joint Ventures Incurred in the
ordinary course of business in connection with the cash management operations of the Company and its Subsidiaries; 

  

	 	(13)	 Investments made in connection with the funding of contributions under any
non-qualified retirement plan or similar employee compensation plan in an amount not to exceed the amount of compensation expense recognized by the Company and its Restricted Subsidiaries in connection with
such plans; 

  

	 	(14)	 Investments made with respect to any Permitted Joint Venture or Unrestricted Subsidiary (or any Person which
upon the making of such Investment becomes a Permitted Joint Venture or Unrestricted Subsidiary), when taken together with all other Investments made pursuant to this clause (14) since the Issue Date that are at that time outstanding, having an
aggregate Fair Market Value (with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value) at the time of such Investment not to exceed 150.0% of the Consolidated EBITDA of
the Company for the most recently ended four consecutive fiscal quarters for which internal financial 

  
 25 

	 	
statements prepared on a consolidated basis are available, calculated on a Pro Forma Basis; 

  

	 	(15)	 Investments in TrellisWare, when taken together with all other Investments made pursuant to this clause
(15) since the Issue Date that are at that time outstanding, having an aggregate Fair Market Value (with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value) at the
time of such Investment not to exceed $40.0 million; 

  

	 	(16)	 Investments in Euro Retail Co. and Euro Infrastructure Co., when taken together with all other Investments made
pursuant to this clause (16) since the Issue Date that are at that time outstanding, having an aggregate Fair Market Value (with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent
changes in value) at the time of such Investment not to exceed $175.0 million; 

  

	 	(17)	 Investments by the Company or any of its Restricted Subsidiaries, when taken together with all other
Investments made pursuant to this clause (17) in such Fiscal Year that are at that time outstanding, having an aggregate Fair Market Value (with the Fair Market Value of each Investment being measured at the time made and without giving effect
to subsequent changes in value) at the time of such Investment not to exceed, in any Fiscal Year, the greater of $300.0 million and 10.0% of Total Assets (the “Annual Investment Amount”); provided, that
(i) if at the end of the applicable Fiscal Year, Investments made pursuant to this clause (17) are less than the Annual Investment Amount, then the amount by which the Annual Investment Amount exceeds the Investments made in such Fiscal
Year pursuant to this clause (17) may be carried forward and included in the aggregate amount of Investments permitted to be made in succeeding Fiscal Years pursuant to this clause (17) (including the application of any carry-forward permitted
by this subclause (i)) and (ii) in no event shall the amount of Investments made pursuant to this clause (17) in any Fiscal Year exceed $550,000,000; 

 

	 	(18)	 any Investments so long as, immediately after giving effect to the making of the Investment, the Consolidated
Leverage Ratio of the Company does not exceed 4.00 to 1.00; 

  

	 	(19)	 Investments to the extent made in exchange for the issuance of Capital Stock (other than Disqualified Stock) of
the Company; 

  

	 	(20)	 any repurchase of Indebtedness not constituting Subordinated Obligations; and 

 

	 	(21)	 any Permitted Asset Swap. 

“Permitted Joint Venture” means: (a) TrellisWare (unless and until such time as TrellisWare
becomes a Wholly Owned Subsidiary), (b) any Satellite Joint Venture or (c) any other Person (other than a Restricted Subsidiary) in which the Company or any of its Restricted 

  
 26 

 
Subsidiaries has made a Permitted Investment or any Investment permitted to be made pursuant to Section 4.07 (or Subsidiary of such Person), which Person is engaged in a Similar Business and
in respect of which the Company or any of its Restricted Subsidiaries beneficially owns at least 10.0% of the Capital Stock of such Person. 

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

 

	 	(1)	 Liens Incurred to secure Obligations in respect of Indebtedness permitted to be Incurred pursuant to clause
(1), (4) or (5) of Section 4.09(b) and obligations secured ratably thereunder; provided, that, in the case of clause (4), (i) such Liens extend only to the assets, property and/or Capital Stock, the acquisition, design, development,
lease, construction, repair, replacement, maintenance, installation, improvement or insurance of which is financed thereby and any replacements, upgrades, additions, accessions and improvements thereto and any income or profits thereof and any
contracts, licenses, consents, permits, authorizations, services or insurance policies relating thereto (and including, in each case, the proceeds thereof); and (ii) any such Lien shall be created concurrently with or within twelve months
following the acquisition of such assets, property or Capital Stock; provided, further, that in the case of clause (5), such Liens extend only to the satellite or Satellite Project that is the subject of such ECA Indebtedness and any
related assets, property, contracts, licenses, consents, permits, authorizations, services or insurance policies and any Capital Stock of any Subsidiary that is a borrower under or guarantor of such ECA Indebtedness (and including, in each case, the
proceeds thereof); provided, further, in each case, that individual financings provided by a lender may be cross-collateralized to other financings provided by such lender or its affiliates; 

 

	 	(2)	 Liens Incurred in connection with workers’ compensation laws, unemployment insurance laws or similar
legislation, in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases, or Liens to secure public or statutory obligations of such Person or to secure surety, stay, customs or appeal bonds, or as security for
contested taxes or import or customs duties or for the payment of rent, in each case Incurred in the ordinary course of business; 

  

	 	(3)	 Liens imposed by law, such as carriers’, warehousemen’s, mechanics’, suppliers’,
vendors’, materialmen’s, repairmen’s, construction contractors’, mechanics’ or other like Liens, or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be
proceeding with an appeal or other proceedings for review (or which, if due and payable, are being contested in good faith by appropriate proceedings and for which adequate reserves are being maintained, to the extent required by GAAP) or with
respect to which the failure to make payment could not reasonably be expected to have a material adverse effect as determined in good faith by management of the Company; 

 

	 	(4)	 Liens for taxes, assessments or other governmental charges or levies (i) which are not yet due and
payable, (ii) which are being contested in good faith and for which appropriate reserves are being maintained to the extent required by GAAP, 

  
 27 

	 	
or for property taxes on property such Person or one of its Subsidiaries has determined to abandon if the sole recourse for such tax, assessment, charge, levy or claim is to such property or
(iii) with respect to which the failure to make payment could not reasonably be expected to have a material adverse effect as determined in good faith by the Company; 

 

	 	(5)	 Liens to secure surety, stay, appeal, bid, indemnification, warranty, release, performance or similar bonds or
with respect to regulatory requirements or letters of credit or bankers’ acceptances or similar obligations in the ordinary course of business, or Liens with respect to insurance premium financing; 

 

	 	(6)	 survey exceptions, encumbrances, ground leases, easements or reservations of, or rights of others for,
licenses, rights of way, servitudes, sewers, electric lines, drains, telegraph and telephone and cable television lines, gas and oil pipelines and other similar purposes, or zoning, building codes or other restrictions (including, without
limitation, minor defects or irregularities in title and similar encumbrances) as to the use of real properties or Liens incidental to the conduct of the business of such Person or to the ownership of its properties that do not in the aggregate
materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; 

  

	 	(7)	 Liens securing Hedging Obligations, Cash Management Services and other bank products so long as any related
Indebtedness is permitted to be Incurred under this Indenture; 

  

	 	(8)	 leases, licenses, subleases, sublicenses, occupancy agreements or assignments of assets or real or personal
property (including, without limitation, real property and intellectual property rights); 

  

	 	(9)	 judgment and attachment Liens and Liens arising by reason of a court order or decree and notices of lis
pendens and associated rights related to litigation being contested in good faith, in each case not giving rise to an Event of Default; 

  

	 	(10)	 Liens (A) on specific items of inventory or other goods and proceeds of any Person securing such
Person’s obligations in respect of bankers’ acceptances or letters of credit entered into in the ordinary course of business issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory
or other goods, (B) arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered into in the ordinary course of business, or (C) in favor of customs and revenue authorities arising as
a matter of law to secure payment of customs duties in connection with the importation and exportation of goods in the ordinary course of business; 

  

	 	(11)	 Liens arising solely by virtue of any statutory or common law provisions relating to banker’s Liens,
rights of set-off, revocation, refund or chargeback or similar rights and remedies as to deposit or securities accounts or other funds or instruments maintained with a depositary institution; provided
that: 

  
 28 

	 	(a)	 such deposit or securities account is not a dedicated cash collateral account and is not subject to
restrictions against access by the Company in excess of those set forth by regulations promulgated by the Federal Reserve Board; and 

  

	 	(b)	 such deposit or securities account is not intended by the Company or any Restricted Subsidiary to provide
collateral to the depository institution; 

  

	 	(12)	 Liens arising from Uniform Commercial Code financing statement filings regarding operating leases or
consignments entered into by the Company and its Restricted Subsidiaries in the ordinary course of business; 

  

	 	(13)	 Liens existing on the Issue Date (other than Liens permitted under clause (1) which clause
(1) includes Liens Incurred to secure Indebtedness under the Senior Credit Facility and the Ex-Im Credit Facility); 

 

	 	(14)	 Liens on assets, property or Capital Stock of a Person at the time such Person becomes a Restricted Subsidiary
or is merged, amalgamated or consolidated with or into the Company or a Restricted Subsidiary; provided, however, that such Liens were not Incurred in connection with, or in contemplation of, such event; provided further, however, that
any such Lien may not extend to any other property owned by the Company or any other Restricted Subsidiary; 

  

	 	(15)	 Liens on assets or property (including Capital Stock) at the time the Company or a Restricted Subsidiary
acquires the assets or property, including any acquisition by means of a merger, amalgamation or consolidation with or into the Company or any Restricted Subsidiary; provided, however, that such Liens were not Incurred in connection with, or
in contemplation of, such acquisition; provided further, however, that such Liens do not extend to any other property owned by the Company or any other Restricted Subsidiary; 

 

	 	(16)	 Liens securing Indebtedness or other obligations of the Company owing to a Restricted Subsidiary, or of a
Restricted Subsidiary owing to the Company or another Restricted Subsidiary; 

  

	 	(17)	 Liens securing Obligations in respect of the Notes and the Subsidiary Guarantees; 

 

	 	(18)	 Liens securing Indebtedness Incurred to refinance, refund, replace, defease, amend, extend or modify, as a
whole or in part, Indebtedness that was previously so secured pursuant to clauses (7), (13), (14), (15), (17), (18) and (21) of this definition or securing Refinancing Indebtedness Incurred pursuant to clause (15) of Section 4.09(b);
provided that any such Lien is limited to all or part of the same property or assets (plus any additions, improvements, accessions, replacements, proceeds or dividends or distributions in respect thereof) that secured (or, under the
written arrangements under which the original Lien arose, could secure) the Indebtedness being refinanced or is in respect of assets or property that is the security for a Permitted Lien hereunder; 

  
 29 

	 	(19)	 any interest or title of a lessor under any Capitalized Lease Obligation or operating lease;

  

	 	(20)	 Liens in favor of the Company or any Restricted Subsidiary; 

 

	 	(21)	 Liens securing Indebtedness or other obligations in an aggregate principal amount outstanding at any one time
not to exceed the greater of (x) $75.0 million and (y) 25.0% of the Consolidated EBITDA of the Company for the most recently ended four consecutive fiscal quarters for which internal financial statements prepared on a consolidated basis are
available, calculated on a Pro Forma Basis; 

  

	 	(22)	 Liens securing Replacement Satellite Vendor Indebtedness permitted under clause (19) of
Section 4.09(b) or securing Indebtedness permitted under clause (20) of Section 4.09(b) which Liens cover only assets or property acquired with or financed by such Indebtedness; 

 

	 	(23)	 Liens on cash collateral not to exceed $50.0 million in the aggregate at any time securing letters of
credit; 

  

	 	(24)	 Liens securing Indebtedness permitted under clause (21) of Section 4.09(b); 

 

	 	(25)	 other non-consensual Liens incurred in the ordinary course of business
that do not materially interfere with the ordinary conduct of the business of the Company and its Restricted Subsidiaries; 

  

	 	(26)	 Liens that may be deemed to exist by virtue of contractual provisions that restrict the ability of the Company
or any of its Restricted Subsidiaries from incurring or creating Liens on their assets or property; 

  

	 	(27)	 Liens on deposits made or other security provided in the ordinary course of business to secure liability to
insurance carriers or under self-insurance arrangements and Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto; 

 

	 	(28)	 Liens on the Capital Stock of Unrestricted Subsidiaries; 

 

	 	(29)	 Liens on the Capital Stock of Permitted Joint Ventures to secure Indebtedness of such Permitted Joint Ventures
or arising under or pursuant to any joint venture agreement, stockholders agreement, partnership agreement, LLC agreement or similar agreement; and 

  

	 	(30)	 Liens securing Indebtedness permitted to be Incurred pursuant to the covenant described under Section 4.09
if, at the time of the Incurrence of such Indebtedness and on a Pro Forma Basis, the Consolidated Senior Secured Debt Ratio would not exceed 3.50 to 1.00. 

For purposes of determining compliance with this definition, (x) a Lien need not be Incurred solely by reference to one category of Permitted Liens
described in this definition but may be 

  
 30 

 
Incurred under any combination of such categories (including in part under one such category and in part under any other such category), (y) in the event that a Lien (or any portion thereof)
meets the criteria of one or more of such categories of Permitted Liens, the Company may, in its sole discretion, classify or reclassify such Lien (or any portion thereof) in any manner that complies with this definition, and (z) in the event
that a portion of the Indebtedness secured by a Lien could be classified as secured in part pursuant to clause (1) of this definition (giving effect to the Incurrence of such portion of such Indebtedness), the Company, in its sole discretion,
may classify such portion of such Indebtedness (and any Obligations in respect thereof) as having been secured pursuant to clause (1) of this definition and thereafter the remainder of the Indebtedness as having been secured pursuant to one or
more of the other clauses of this definition. 
 “Permitted Warrant” means any call option in respect of the Company’s
Common Stock sold by the Company concurrently with the issuance of Convertible Notes. 
 “Person” means any individual,
corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision hereof or any other entity. 

“Preferred Stock,” as applied to the Capital Stock of any corporation, means Capital Stock of any class or classes (however
designated) that is preferred as to the payment of dividends upon liquidation, dissolution or winding up. 
 “Pro Forma
Basis” means, with respect to the calculation of any test, financial ratio, metric, basket or covenant under this Indenture, including the Consolidated Coverage Ratio, the Consolidated Leverage Ratio and the Consolidated Senior
Secured Debt Ratio, and the calculation of Consolidated EBITDA or Total Assets of any Person and its Restricted Subsidiaries as of any period or date, that pro forma effect will be given to any acquisition, merger, amalgamation, consolidation
or Investment, any Incurrence, assumption, repayment or redemption of Indebtedness (including Indebtedness Incurred, assumed, repaid or redeemed as a result of, or to finance, any relevant transaction and for which any such test, financial ratio,
metric, basket or covenant is being calculated), all sales, transfers and other dispositions or discontinuance of any Subsidiary, line of business, division, segment or operating unit, any operational change (including the entry into any material
contract or arrangement) or any designation of a Restricted Subsidiary as an Unrestricted Subsidiary or of an Unrestricted Subsidiary as a Restricted Subsidiary, in each case that has occurred during the four consecutive fiscal quarter period of
such Person being used to calculate such test, financial ratio, metric, basket or covenant (the “Reference Period”), or subsequent to the end of the Reference Period but prior to such date or prior to or substantially simultaneously
with the event for which a determination under this definition is made (including any such event occurring at a Person who became a Restricted Subsidiary of the subject Person or was merged, amalgamated or consolidated with or into the subject
Person or any other Restricted Subsidiary of the subject Person after the commencement of the Reference Period), as if each such event occurred on the first day of the Reference Period; provided that (x) pro forma effect will be
given to reasonably identifiable and quantifiable pro forma cost savings or expense reductions related to operational efficiencies (including the entry into any material contract or arrangement), strategic initiatives or purchasing
improvements and other cost savings, improvements or synergies, in each case, 

  
 31 

 
that have been realized, or are reasonably expected to be realized, by such Person and its Restricted Subsidiaries based upon actions to be taken within 24 months after the consummation of the
action as if such cost savings, expense reductions, improvements and synergies occurred on the first day of the Reference Period and (y) no amount shall be added back pursuant to this definition to the extent duplicative of amounts that are
otherwise included in computing Consolidated EBITDA for such Reference Period. 
 For purposes of making any computation referred to above:

  

	 	(1)	 if any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such
Indebtedness shall be calculated as if the rate in effect on the date for which a determination under this definition is made had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such
Indebtedness if such Hedging Obligations have a remaining term in excess of 12 months); 

  

	 	(2)	 interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined
by a responsible financial or accounting officer, in his or her capacity as such and not in his or her personal capacity, of the Company or a direct or indirect parent of the Company to be the rate of interest implicit in such Capitalized Lease
Obligation in accordance with GAAP; 

  

	 	(3)	 interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime
or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate as the Company may designate; and 

 

	 	(4)	 interest on any Indebtedness under a revolving credit facility or a receivables financing computed on a pro
forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period. 

 Any pro
forma calculation may include, without limitation, adjustments calculated in accordance with Regulation S-X under the Securities Act, and adjustments calculated to give effect to any Pro Forma Cost
Savings. 
 “Pro Forma Cost Savings” means, without duplication of any amounts referenced in the definition of “Pro
Forma Basis,” an amount equal to the amount of cost savings, operating expense reductions, operating improvements (including the entry into any material contract or arrangement) and acquisition synergies, in each case, projected in good faith
to be realized (calculated on a pro forma basis as though such items had been realized on the first day of such period) as a result of actions taken or to be taken by the Company (or any successor thereto) or any Restricted Subsidiary, net of
the amount of actual benefits realized or expected to be realized during such period that are otherwise included in the calculation of Consolidated EBITDA from such actions; provided that such cost savings, operating expense reductions,
operating improvements and synergies are reasonably identifiable (as determined in good faith by a responsible financial or accounting officer, in his or her capacity as such and not in his or her 

  
 32 

 
personal capacity, of the Company (or any successor thereto) or any direct or indirect parent of the Company) and are reasonably anticipated to be realized within 24 months after the consummation
of any change that is expected to result in such cost savings, expense reductions, operating improvements or synergies; provided that no cost savings, operating expense reductions, operating improvements and synergies shall be added pursuant
to this definition to the extent duplicative of any expenses or charges otherwise added to Consolidated Net Income or Consolidated EBITDA, whether through a pro forma adjustment, add-back, exclusion or
otherwise, for such period; provided further that any adjustments calculated to give effect to any Pro Forma Cost Savings shall not exceed, in an aggregate amount, 20.0% of Consolidated EBITDA for such period (determined prior to giving
effect to such Pro Forma Cost Savings). 
 “Rating Agency” means (1) each of S&P Global Ratings, Moody’s
Investors Service, Inc., and Fitch Ratings, Inc. or (2) if any of S&P Global Ratings, Moody’s Investors Service, Inc., or Fitch Ratings, Inc. ceases to rate the Notes, a nationally recognized statistical rating agency selected by the
Company as a replacement agency for S&P Global Ratings, Moody’s Investors Service, Inc., or Fitch Ratings, Inc., as the case may be. 

“Ratings Decline Period” means the period that (1) begins on the first public announcement of the Change of Control (or
occurrence thereof if such Change of Control occurs prior to public announcement) and (2) ends on the date that is 30 days following consummation of such Change of Control. 

“Ratio Debt” has the meaning assigned to such term in Section 4.09(a). 

“Receivable” means a right to receive payment arising from a sale or lease of goods or the performance of services by a
Person pursuant to an arrangement with another Person pursuant to which such other Person is obligated to pay for goods or services under terms that permit the purchase of such goods and services on credit and shall include, in any event, any items
of property that would be classified as an “account,” “chattel paper,” “payment intangible” or “instrument” under the Uniform Commercial Code as in effect in the State of New York and any “supporting
obligations” as so defined. 
 “Receivables Fees” means any fees or interest paid to purchasers or lenders providing
the financing in connection with a factoring agreement or other similar agreement, including any such amounts paid by discounting the face amount of Receivables or participations therein transferred in connection with a factoring agreement or other
similar arrangement, regardless of whether any such transaction is structured as on-balance sheet or off- balance sheet or through a Restricted Subsidiary or an Unrestricted Subsidiary. 

“Refinancing Indebtedness” means Indebtedness that is Incurred to refund, refinance, replace, exchange, renew, redeem,
retire, repay or extend (including pursuant to any defeasance or discharge mechanism) (or successive refundings, refinancings, replacements, exchanges, renewals, repayments or extensions) as a whole, or in part, of any Indebtedness existing on the
Issue Date or Incurred in compliance with this Indenture (including Indebtedness of the Company that refinances Indebtedness of any Restricted Subsidiary, Indebtedness of any Restricted Subsidiary that refinances Indebtedness of another Restricted
Subsidiary or Indebtedness of any Subsidiary Guarantor that refinances Indebtedness of the Company or any 

  
 33 

 
Subsidiary Guarantor) including Indebtedness that refinances Refinancing Indebtedness, provided, however, that: 
  

	 	(1)	 (a) if the Stated Maturity of the Indebtedness being refinanced is earlier than the Stated Maturity of the
Notes, the Refinancing Indebtedness has a Stated Maturity no earlier than the Stated Maturity of the Indebtedness being refinanced or (b) if the Stated Maturity of the Indebtedness being refinanced is later than the Stated Maturity of the
Notes, the Refinancing Indebtedness has a Stated Maturity at least 91 days later than the Stated Maturity of the Notes; 

  

	 	(2)	 the Refinancing Indebtedness has an Average Life at the time such Refinancing Indebtedness is Incurred that is
equal to or greater than the Average Life of the Indebtedness being refinanced; 

  

	 	(3)	 such Refinancing Indebtedness is Incurred in an aggregate principal amount (or if issued with original issue
discount, an aggregate issue price) that is equal to or less than the sum of the aggregate principal amount (or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being refinanced (plus,
without duplication, any additional Indebtedness Incurred to pay interest, defeasance costs or premiums (including tender premiums) required by the instruments governing such existing Indebtedness and fees, underwriting discounts and other costs and
expenses incurred in connection therewith); 

  

	 	(4)	 if the Indebtedness being refinanced is subordinated in right of payment to the Notes or the Subsidiary
Guarantee, such Refinancing Indebtedness is subordinated in right of payment to the Notes or the Subsidiary Guarantee on terms not materially less favorable, when taken as a whole, to the Holders as those contained in the documentation governing the
Indebtedness being refinanced; and 

  

	 	(5)	 Refinancing Indebtedness shall not include Indebtedness of a
Non-Guarantor Subsidiary that refinances Indebtedness of the Company or a Subsidiary Guarantor. 

“Register” has the meaning assigned to such term in Section 2.09. 

“Registrar” means a Person engaged to maintain the Register. 

“Regular Record Date” for the interest payable on any Interest Payment Date means the January 1 or July 1 (whether
or not a Business Day) next preceding such Interest Payment Date. 
 “Regulation S” means Regulation S under the Securities
Act. 
 “Regulation S Certificate” means a certificate substantially in the form of Exhibit F hereto. 

“Regulation S Legend” means the legend set forth in Exhibit E. 

  
 34 

 “Reinstatement Date” has the meaning assigned to such term in
Section 4.18(a). 
 “Replacement Assets” means (1) substantially all the assets of a Person primarily engaged in
a Similar Business or (2) a majority of the Voting Stock of any Person primarily engaged in a Similar Business that will become, on the date of acquisition thereof, a Restricted Subsidiary. 

“Replacement Satellite Vendor Indebtedness” means Indebtedness of the Company or a Restricted
Subsidiary provided by a satellite or satellite launch vendor, insurer or insurance agent or Affiliate thereof for (i) the construction, launch or insurance of all or part of one or more replacement satellites or satellite launches for such
satellites, where “replacement satellite” means a satellite that is to be used: (x) as a replacement for the ViaSat-1 satellite, or (y) for continuation or expansion of the Company’s
satellite service as a replacement for, or supplement to, a satellite that is retired or relocated (due to a deterioration in operating useful life) within the existing service area or reasonably determined by the Company to no longer meet the
requirements for such service or as a supplement to one or more existing satellites to provide additional capacity or (ii) the replacement of a spare satellite that has been launched or that is no longer capable of being launched or suitable
for launch. Replacement Satellite Vendor Indebtedness includes any Refinancing Indebtedness thereof. 
 “Responsible
Officer” means, when used with respect to the Trustee, an officer of the Trustee in the Corporate Trust Office directly responsible for administration of the trust or another officer to whom a matter may be referred because of their
expertise. 
 “Restricted Investment” means any Investment other than a Permitted Investment. 

“Restricted Legend” means the legend set forth in Exhibit C. 

“Restricted Payment” has the meaning assigned to such term in Section 4.07. 

“Restricted Period” means the relevant 40-day distribution compliance period as
defined in Regulation S. 
 “Restricted Subsidiary” means any Subsidiary of the Company other than an Unrestricted
Subsidiary. 
 “Restructuring Charges” means all charges, accruals, reserves, costs and expenses caused by or attributable
to (a) any restructuring, relocation, reconfiguration, conversion, consolidation, closure, start-up, integration, termination, cost saving initiative, business optimization or transition of any business,
facility, function, product, equipment or other asset or property or in respect of any acquisition, disposition or other transaction, (b) any recruiting, signing, retention or completion bonus or severance, relocation, restructuring or
curtailment costs in each case for any future, current or former officers, directors, employees, managers, consultants or independent consultants or (c) any modifications to pension and post-retirement benefit plans or arrangements. 

“Retained Declined Proceeds” has the meaning assigned to such term in Section 4.10(e). 

  
 35 

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

“Rule 144A Certificate” means (i) a certificate substantially in the form of Exhibit G hereto or (ii) a written
certification addressed to the Company and the Trustee to the effect that the Person making such certification (x) is acquiring such Note (or beneficial interest) for its own account or one or more accounts with respect to which it exercises
sole investment discretion and that it and each such account is a qualified institutional buyer within the meaning of Rule 144A, (y) is aware that the transfer to it or exchange, as applicable, is being made in reliance upon the exemption from
the provisions of Section 5 of the Securities Act provided by Rule 144A, and (z) acknowledges that it has received such information regarding the Company as it has requested pursuant to Rule 144A(d)(4) or has determined not to request such
information. 
 “Sale/Leaseback Transaction” means an arrangement relating to property now owned or hereafter acquired by
the Company or a Restricted Subsidiary whereby the Company or a Restricted Subsidiary transfers such property to a Person (other than the Company or any of its Subsidiaries) and the Company or a Restricted Subsidiary leases it from such Person. 

“Satellite” means any satellite owned by the Company or any of its Restricted Subsidiaries and any satellite purchased by the
Company or any of its Restricted Subsidiaries pursuant to the terms of a satellite purchase agreement with the prime contractor and manufacturer of such Satellite relating to the manufacture, testing and delivery of such satellite, whether such
satellite is in the process of manufacture, has been delivered for launch or is in orbit (whether or not in operational service). 

“Satellite Joint Venture” means (a) Euro Retail Co. (unless and until such time as Euro
Retail Co. becomes a Wholly Owned Subsidiary), (b) Euro Infrastructure Co. (unless and until such time as Euro Infrastructure Co. becomes a Wholly Owned Subsidiary), (c) any other Person (other than a Restricted Subsidiary) in which the Company or
any Restricted Subsidiary has made an Investment, which Person is engaged in a business relating to the financing, development, construction, launch, operation or improvement of one or more satellites, satellite-related infrastructure or
satellite-related equipment and/or the provision of satellite-based services, and (d) any Subsidiary of such Person. 

“Satellite Project” means any of the following activities: (a) purchasing, acquiring, designing,
developing, procuring, constructing, manufacturing, managing, launching, testing, operating, insuring and commercializing any satellite; (b) purchasing, acquiring, procuring, leasing, managing and operating capacity, bandwidth, beams,
transponders or threads or other rights of use on one or more satellites; (c) purchasing, acquiring, designing, developing, procuring, constructing, manufacturing, managing, testing, operating, maintaining, insuring, leasing and commercializing
gateway facilities, earth stations and other ground infrastructure (including user terminals and hub equipment) for satellites; (d) procuring, making, holding and maintaining licenses, authorizations, approvals, permits, filings, registrations,
consents, agreements and other instruments with respect to any of the foregoing and any payments associated therewith; and (e) pursuing such other lawful business activities as may be related, ancillary or complementary to any of the foregoing
or a reasonable extension or expansion thereof. 

  
 36 

 “SEC” means the United States Securities and Exchange Commission. 

“Secured Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries secured by a Lien (other
than Indebtedness with respect to Cash Management Services). 
 “Securities Act” means the Securities Act of 1933, as
amended, and the rules and regulations of the SEC promulgated thereunder. 
 “Senior Credit Facility” means the Credit
Agreement dated as of November 26, 2013, among the Company, MUFG Union Bank, N.A., as Administrative Agent, Bank of America, N.A. and JPMorgan Chase Bank, N.A., as Co-Syndication Agents, Compass Bank,
Credit Suisse AG, Cayman Islands Branch, Royal Bank of Canada and SunTrust Bank, as Co-Documentation Agents, Merrill Lynch, Pierce, Fenner & Smith Incorporated, MUFG Union Bank, N.A. and J.P. Morgan
Securities LLC, as Joint Lead Arrangers and Joint Book Runners and MUFG Union Bank, N.A., as Administrative Agent and Collateral Agent, and the lenders parties thereto from time to time, as amended through the Issue Date and as the same may be
further amended, restated, supplemented, modified, renewed, extended, refunded, restructured; replaced or refinanced in whole or in part from time to time (including increasing the amount loaned thereunder, provided that such additional
Indebtedness is Incurred in accordance with Section 4.09), and in each case including any notes, mortgages, guarantees, collateral documents, instruments and agreements executed in connection therewith. 

“Significant Subsidiary” means any Restricted Subsidiary that would be a “Significant Subsidiary” of
the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC, as in effect on the Issue Date. 

“Similar Business” means any business conducted or proposed to be conducted by the Company and its Restricted Subsidiaries on
the Issue Date or any business or other activities that are similar, reasonably related, incidental, complementary or ancillary thereto, or that constitute an extension, development or expansion thereof. 

“Stated Maturity” means, with respect to any security, the date specified in the agreement governing or
certificate relating to such Indebtedness as the fixed date on which the final payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision, but shall not include any contingent obligations to
repay, redeem or repurchase any such principal prior to the date originally scheduled for the payment thereof. 
 “Subordinated
Obligation” means any Indebtedness of the Company (whether outstanding on the Issue Date or thereafter Incurred) that is subordinated or junior in right of payment to the Notes pursuant to a written agreement. 

“Subsidiary” of any Person means (a) any corporation, association or other business entity (other than a partnership,
joint venture, limited liability company or similar entity) of which more than 50% of the total ordinary voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors,
managers or trustees thereof (or Persons performing similar functions) or (b) any partnership, 

  
 37 

 
joint venture limited liability company or similar entity of which more than 50% of the capital accounts, distribution rights, total equity and voting interests or general or limited partnership
interests, as applicable, is, in the case of clauses (a) and (b), at the time owned or controlled, directly or indirectly, by (1) such Person, (2) such Person and one or more Subsidiaries of such Person or (3) one or more
Subsidiaries of such Person. Unless otherwise specified herein, each reference to a Subsidiary will refer to a Subsidiary of the Company. 

“Subsidiary Guarantee” means, individually, any Guarantee of payment of the Notes, and, collectively, all such
Guarantees. Each such Subsidiary Guarantee will be in the form prescribed by this Indenture. 
 “Subsidiary Guarantor”
means each Restricted Subsidiary that provides a Subsidiary Guarantee in accordance with this Indenture; provided that upon release or discharge of such Restricted Subsidiary from its Subsidiary Guarantee in accordance with this Indenture,
such Restricted Subsidiary ceases to be a Subsidiary Guarantor. 
 “Successor Company” has the meaning assigned to such
term in Section 5.01(a)(1). 
 “Successor Guarantor” has the meaning assigned to such term in Section 5.01(b)(1).

 “Suspended Covenants” has the meaning assigned to such term in Section 4.18(b). 

“Suspension Date” has the meaning assigned to such term in Section 4.18(a). 

“Suspension Period” has the meaning assigned to such term in Section 4.18(b). 

“Total Assets” means the total assets of the Company and its Restricted Subsidiaries on a consolidated basis determined in
accordance with GAAP, as shown on the most recent internal consolidated balance sheet of the Company, determined on a Pro Forma Basis. 

“Treasury Rate” means as of any date of redemption of Notes the yield to maturity at the time of computation of United States
Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (or is obtainable from the Federal Reserve System’s Data Download Program as of the date of such H.15) that has
become publicly available at least two Business Days prior to such date (or, if such Statistical Release is no longer published, any publicly available source or similar market data)) most nearly equal to the period from the redemption date to
July 15, 2023; provided, however, that if the period from the redemption date to July 15, 2023 is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate
shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if
the period from the redemption date to July 15, 2023 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“TrellisWare” means TrellisWare Technologies, Inc., a Delaware corporation. 

“Trust Indenture Act” means the Trust Indenture Act of 1939. 

  
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 “Trust Officer” means, when used with respect to the Trustee, any officer
within the Corporate Trust Office of the Trustee having direct responsibility for the administration of this Indenture, or any other officer to whom any corporate trust matter is referred because of such officer’s knowledge of and familiarity
with the particular subject. 
 “Trustee” means the party named as such in the first paragraph of this Indenture or any
successor trustee under this Indenture pursuant to Article 7. 
 “U.S. Global Note” means a Global Note that bears the
Restricted Legend representing Notes issued and sold pursuant to Rule 144A. 
 “U.S. Government Obligations” means
securities that are (a) direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America the timely payment of that is unconditionally guaranteed as a full faith and credit obligation of the United States of America, which, in either case, are not callable or redeemable at the option of
the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such U.S. Government Obligations or a specific payment of principal of or
interest on any such U.S. Government Obligations held by such custodian for the account of the holder of such depositary receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the
amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligations or the specific payment of principal of or interest on the U.S. Government Obligations evidenced by such
depositary receipt. 
 “Unrestricted Subsidiary” means: 

 

	 	(1)	 as of the Issue Date, TrellisWare and Euro Retail Co.; 

 

	 	(2)	 any Subsidiary of the Company that at the time of determination shall have been designated an Unrestricted
Subsidiary by the Board of Directors of the Company or any direct or indirect parent of the Company in the manner provided in Section 4.17; and 

  

	 	(3)	 any Subsidiary of an Unrestricted Subsidiary. 

“Voting Stock” of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled to vote
in the election of directors, managers or trustees, as applicable, of such Person. 
 “Wholly Owned Subsidiary” means a
Restricted Subsidiary, all of the Capital Stock of which (other than directors’ qualifying shares or shares or interests required to be held by foreign nationals or other third parties to the extent required by applicable law) is owned by the
Company or one or more Wholly Owned Subsidiaries. 
 Section 1.02. Rules of Construction. (a) Unless the context
otherwise requires or except as otherwise expressly provided, 

  
 39 

 (1) an accounting term not otherwise defined has the meaning assigned to it
in accordance with GAAP; 
 (2) “herein,” “hereof,” “hereunder” and other words of similar
import refer to this Indenture as a whole and not to any particular Article, Section, clause or other subdivision; 
 (3)
“or” is not exclusive; 
 (4) “including” is not limiting; 

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

(6) all references to Sections or Articles or Exhibits refer to Sections or Articles or Exhibits of or to this Indenture unless
otherwise indicated; 
 (7) references to agreements or instruments, or to statutes or regulations, are to such agreements or
instruments, or statutes or regulations, as amended from time to time (or to successor statutes and regulations); and 
 (8)
in the event that a transaction meets the criteria of more than one category of permitted transactions or listed exceptions the Company may divide and classify such transaction as it, in its sole discretion, determines. 

(b) Notwithstanding anything in this Indenture to the contrary, when (i) calculating any applicable ratio in connection with the
Incurrence of Indebtedness, the creation of Liens, the making of any Asset Sale, the making of an Investment, the making of a Restricted Payment, the designation of a Subsidiary as restricted or unrestricted, the repayment of Indebtedness or for any
other purpose, (ii) determining whether any Default or Event of Default has occurred, is continuing or would result from any action, or (iii) determining compliance with any other condition precedent to any action or transaction, in each
case of clauses (i) through (iii) in connection with a Limited Condition Transaction, the date of determination of such ratio, whether any Default or Event of Default has occurred, is continuing or would result therefrom, or the
satisfaction of any other condition precedent shall, at the option of the Company (the Company’s election to exercise such option in connection with any Limited Condition Transaction, a “Transaction Election”), be deemed to be
the date of declaration of such Restricted Payment or the date that the definitive agreement for such Restricted Payment, Investment, acquisition, Asset Sale or Incurrence, repayment, repurchase or refinancing of Indebtedness, Disqualified Stock or
Preferred Stock is entered into, the date a public announcement of an intention to make an offer in respect of the target of such acquisition or Investment or the date of such notice, which may be conditional, of such repayment, repurchase or
refinancing of Indebtedness, Disqualified Stock or Preferred Stock is given to the holders of such Indebtedness, Disqualified Stock or Preferred Stock (any such date, the “Transaction Test Date”). If on a Pro Forma Basis after
giving effect to such Limited Condition Transaction and the other transactions to be entered into in connection therewith (including any Incurrence of Indebtedness and the use of proceeds thereof), with such ratios, absence of defaults, satisfaction
of conditions precedent and other provisions calculated as if such Limited Condition Transaction 

  
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or other transactions had occurred at the beginning of the most recent period of four consecutive fiscal quarters of the Company ended on or prior to such time (taken as one accounting period) in
respect of which internal financial statements for each quarter or fiscal year in such period are available, the Company could have taken such action on the relevant Transaction Test Date in compliance with the applicable ratios or other provisions,
such provisions shall be deemed to have been complied with. For the avoidance of doubt, (i) if any of such ratios, absence of defaults, satisfaction of conditions precedent or other provisions are exceeded or breached as a result of
fluctuations in such ratio (including due to fluctuations in Consolidated EBITDA), a change in facts and circumstances or other provisions at or prior to the consummation of the relevant Limited Condition Transaction, such ratios, absence of
defaults, satisfaction of conditions precedent and other provisions will not be deemed to have been exceeded, breached, or otherwise failed to have been satisfied as a result of such fluctuations or changed circumstances solely for purposes of
determining whether the Limited Condition Transaction and any related transactions is permitted hereunder and (ii) such ratios and compliance with such conditions shall not be tested at the time of consummation of such Limited Condition
Transaction or related transactions. If the Company has made a Transaction Election for any Limited Condition Transaction, then in connection with any subsequent calculation of any ratio or basket availability with respect to any other Limited
Condition Transaction or otherwise on or following the relevant Transaction Test Date and prior to the earlier of the date on which such Limited Condition Transaction is consummated or the date that the definitive agreement for such Limited
Condition Transaction is terminated or expires without consummation of such Limited Condition Transaction, any such ratio or basket shall be calculated on a Pro Forma Basis assuming such Limited Condition Transaction and other transactions in
connection therewith (including any Incurrence of Indebtedness and the use of proceeds thereof) have been consummated. For purposes of any calculation pursuant to this paragraph of the Consolidated Coverage Ratio, Consolidated Interest Expense may
be calculated using an assumed interest rate for the Indebtedness to be Incurred in connection with such Limited Condition Transaction based on the indicative interest margin contained in any financing commitment documentation with respect to such
Indebtedness or, if no such indicative interest margin exists, as reasonably determined by the Company in good faith. 
 ARTICLE 2 

THE NOTES 

Section 2.01. Form, Dating and Denominations; Legends. (a) The aggregate principal
amount of Notes that may be authenticated and delivered under this Indenture is unlimited. The Notes and the Trustee’s certificate of authentication will be substantially in the form attached as Exhibit A. The terms and provisions contained in
the form of the Notes annexed as Exhibit A constitute, and are hereby expressly made, a part of this Indenture. The Notes may have notations, legends or endorsements approved as to form by the Company, and required by law, rules of national
securities exchanges to which the Company is subject, agreements to which the Company is subject or usage. Each Note will be dated the date of its authentication. The Notes will be issuable in minimum denominations of $2,000 in principal amount and
any multiple of $1,000 in excess thereof. The Notes shall be known and designated as “6.500 % Senior Notes due 2028” of the Company. 

  
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 (b) (1) Except as otherwise provided in paragraph (c), Section 2.10(b)(3),
Section 2.10(c) or Section 2.09(b)(4), each Initial Note or Additional Note will bear the Restricted Legend or Regulation S Legend, as the case may be. 

(2) Each Global Note, whether or not an Initial Note or Additional Note, will bear a legend in substantially the form of the
DTC Legend. 
 (3) Initial Notes and Additional Notes offered and sold in reliance on Regulation S will be issued as provided
in Section 2.11(a). 
 (4) Initial Notes and Additional Notes offered and sold in reliance on any exception under the
Securities Act other than Regulation S and Rule 144A will be issued, and upon the request of the Company to the Trustee, Initial Notes offered and sold in reliance on Rule 144A may be issued, in the form of Certificated Notes. 

(5) Initial Notes resold to Institutional Accredited Investors will be in the form of an IAI Global Note. 

(c) If the Company determines (upon the advice of counsel and such other certifications and evidence as the Company may reasonably require)
that a Note is eligible for resale pursuant to Rule 144 under the Securities Act (or a successor provision) without the need for current public information and that the Restricted Legend or the Regulation S Legend, as the case may be, is no longer
necessary or appropriate in order to ensure that subsequent transfers of the Note (or a beneficial interest therein) are effected in compliance with the Securities Act, the Company may instruct the Trustee to cancel the Note and issue to the Holder
thereof (or to its transferee) a new Note of like tenor and amount, registered in the name of the Holder thereof (or its transferee), that does not bear the Restricted Legend or the Regulation S Legend, as the case may be, and the Trustee will
comply with such instruction. 
 (d) By its acceptance of any Note bearing the Restricted Legend or the Regulation S Legend, as the case may
be (or any beneficial interest in such a Note), each Holder thereof and each owner of a beneficial interest therein acknowledges the restrictions on transfer of such Note (and any such beneficial interest) set forth in this Indenture and in the
Restricted Legend or in the Regulation S Legend, as the case may be, and agrees that it will transfer such Note (and any such beneficial interest) only in accordance with this Indenture and such legend. 

(e) The Trustee and each Agent are hereby authorized to act in accordance with Applicable Procedures of any Depository. Neither the Trustee
nor any Agent shall have any responsibility for any actions taken or not taken by any Depository. 
 Section 2.02. Execution and
Authentication; Additional Notes. (a) An Officer shall execute the Notes for the Company by facsimile or manual signature in the name and on behalf of the Company. If an Officer whose signature is on a Note no longer holds that
office at the time the Note is authenticated, the Note will still be valid. 
 (b) A Note will not be valid until the Trustee manually signs
the certificate of authentication on the Note. The signature of the Trustee on a Note will be conclusive evidence that the Note has been duly and validly authenticated under this Indenture. 

  
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 (c) At any time and from time to time after the execution and delivery of this Indenture,
the Company may deliver Notes executed by the Company to the Trustee for authentication. The Trustee will authenticate and deliver: 

(1) Notes for original issue on the Issue Date in the aggregate principal amount of $400,000,000, and 

(2) Additional Notes from time to time for original issue after the Issue Date in aggregate principal amounts specified by the
Company, subject to the terms of this Indenture, 
 in each case upon a written order of the Company signed by an Officer of the Company (an
“Authentication Order”). The Authentication Order shall, in the case of any issuance of Additional Notes, specify the aggregate principal amount of Notes to be authenticated, the date on which the original issue of Notes is to be
authenticated and whether the Notes will be in the form of Global Notes or Certificated Notes. 
 (d) In case the Company shall be
consolidated or merged with or into or wound up into any other Person or shall sell, assign, convey, transfer or otherwise dispose of all or substantially all of the assets and properties of the Company and its Restricted Subsidiaries, taken as a
whole, and the successor Person resulting from such consolidation, or surviving such merger, or into which the Company shall have been merged or wound up into, or the Person which shall have received a sale, assignment, conveyance, transfer or other
disposition as aforesaid, shall have executed an indenture supplemental hereto with the Trustee pursuant to Article 5, any of the Notes authenticated or delivered prior to such consolidation, merger, sale, assignment, conveyance, transfer or other
disposition may, from time to time, at the request of the successor Person, be exchanged for other Notes executed in the name of the successor Person with such changes in phraseology and form as may be appropriate, but otherwise in substance of like
tenor as the Notes surrendered for such exchange and of like principal amount; and the Trustee, upon a written order of the successor Person signed by an Officer of the successor Person, shall authenticate and make available for delivery Notes as
specified in such order for the purpose of such exchange. If Notes shall at any time be authenticated and delivered in any new name of a successor Person pursuant to this Section 2.02(d) in exchange or substitution for or upon registration of
transfer of any Notes, such successor Person, at the option of the Holders but without expense to them, shall provide for the exchange of all Notes at the time outstanding for Notes authenticated and delivered in such new name. 

Section 2.03. Registrar, Paying Agent and Authenticating Agent; Paying Agent to Hold Money in
Trust. (a) The Company may appoint one or more Registrars and one or more Paying Agents, and the Trustee may appoint an Authenticating Agent, in which case each reference in this Indenture to the Trustee in respect of the obligations
of the Trustee to be performed by that Agent will be deemed to be references to the Agent. The Company may act as Registrar or (except for purposes of Article 8) Paying Agent. In each case the Company and the Trustee will enter into an appropriate
agreement with the Agent implementing the provisions of this Indenture relating to the obligations of the Trustee to be performed by the Agent and the related rights. The Company initially appoints the Trustee as Registrar and Paying Agent for the
Notes. The Company may remove any Registrar or Paying Agent upon written notice to such Registrar or 

  
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Paying Agent and to the Trustee; provided, however, that no such removal shall become effective until (i) acceptance of any appointment by a successor as evidenced by an appropriate
agreement entered into by the Company and such successor Registrar or Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the
appointment of a successor in accordance with clause (i) above. The appointment of an Authenticating Agent shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall be furnished to the Company. Unless limited by the
terms of such appointment, any such Authenticating Agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by the Authenticating Agent. 

(b) The Company will require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for the
benefit of the Holders or the Trustee all money held by the Paying Agent for the payment of principal of, premium, if any, and interest on the Notes and will promptly notify the Trustee of any Default by the Company in making any such payment. The
Company at any time may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed, and the Trustee may at any time during the continuance of any Payment Default (as defined below), upon written request to
a Paying Agent, require the Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. Upon doing so, the Paying Agent will have no further liability for the money so paid over to the Trustee. 

Section 2.04. Replacement Notes. If a mutilated Note is surrendered to the Trustee or the Company and the Trustee receive
evidence to their satisfaction of the loss, destruction or theft of any Note, the Company will issue and the Trustee will, upon receipt of an Authentication Order, authenticate a replacement Note of like tenor and principal amount and bearing a
number not contemporaneously outstanding. Every replacement Note is an additional obligation of the Company and entitled to the benefits of this Indenture. The Holder must furnish an indemnity or security that is sufficient in the judgment of the
Trustee to protect the Trustee and in the judgment of the Company to protect the Company, the Trustee and any Agent from any loss they may suffer if a Note is replaced. The Company and the Trustee may charge the Holder for their fees and expenses in
replacing a Note, including any amounts to cover any tax, assessment. In case the mutilated, lost, destroyed or wrongfully taken Note has become or is about to become due and payable, the Company in its discretion may pay the Note instead of issuing
a replacement Note. It is understood that, notwithstanding anything in this Indenture to the contrary, only an Authentication Order and not an Opinion of Counsel or Officers’ Certificate is required for the Trustee to authenticate such
replacement Note. 
 Section 2.05. Outstanding Notes. (a) Notes outstanding at any
time are all Notes that have been authenticated by the Trustee except for: 
 (1) Notes cancelled by the Trustee or delivered
to it for cancellation; 
 (2) any Note which has been replaced pursuant to Section 2.04 unless and until the Trustee
and the Company receive proof satisfactory to them that the replaced Note is held by a protected purchaser; and 

  
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 (3) on or after the maturity date or any redemption date or date for
purchase of the Notes pursuant to an Offer to Purchase, those Notes payable or to be redeemed or purchased on that date for which the Trustee (or Paying Agent, other than the Company or an Affiliate of the Company) holds money sufficient to pay
Notes payable on that date. 
 (b) A Note does not cease to be outstanding because the Company or one of its Affiliates holds the Note,
provided that in determining whether the Holders of the requisite principal amount of the outstanding Notes have given or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder (other than in
respect of any action pursuant to Section 9.02 that requires the consent of each Holder of an affected Note), Notes owned by the Company or any Affiliate of the Company will be disregarded and deemed not to be outstanding, (it being understood
that in determining whether the Trustee is protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or other action, only Notes which the Trustee knows to be so owned will be so disregarded). Notes so
owned which have been pledged in good faith shall not be so disregarded and shall be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Notes and that the
pledgee is not the Company or any Affiliate of the Company. 
 Section 2.06. Temporary Notes. Until definitive Notes are
ready for delivery, the Company may prepare and the Trustee will, upon receipt of an Authentication Order, authenticate temporary Notes. Temporary Notes will be substantially in the form of definitive Notes but may have insertions, substitutions,
omissions and other variations determined to be appropriate by the Officer executing the temporary Notes, as evidenced by the execution of the temporary Notes. If temporary Notes are issued, the Company will cause definitive Notes to be prepared
without unreasonable delay. After the preparation of definitive Notes, the temporary Notes will be exchangeable for definitive Notes upon surrender of the temporary Notes at the office or agency of the Company designated for the purpose pursuant to
Section 4.02, without charge to the Holder. Upon surrender for cancellation of any temporary Notes the Company will execute and the Trustee will, upon receipt of an Authentication Order, authenticate and deliver in exchange therefor a like
principal amount of definitive Notes of authorized denominations. Until so exchanged, the temporary Notes will be entitled to the same benefits under this Indenture as definitive Notes. 

Section 2.07. Cancellation. The Company at any time may deliver to the Trustee for
cancellation any Notes previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee for cancellation any Notes previously authenticated hereunder which the Company has
not issued and sold. Any Registrar or the Paying Agent will forward to the Trustee any Notes surrendered to it for transfer, exchange or payment. The Trustee will cancel all Notes surrendered for transfer, exchange, payment, replacement or
cancellation and dispose of all canceled Notes in accordance with its customary procedures. All canceled Notes held by the Trustee shall be held and disposed of, in each case subject to and in accordance with the Trustee’s customary procedures.
Upon the written request of the Company, the Trustee shall deliver copies of such canceled Notes to the Company. The Company may not issue new Notes to replace Notes it has paid in full or delivered to the Trustee for cancellation. 

  
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 Section 2.08. CUSIP and CINS Numbers. The Company in issuing the Notes
may use “CUSIP” and/or “CINS” numbers, and the Trustee will use CUSIP numbers or CINS numbers in notices of redemption or exchange or in Offers to Purchase as a convenience to Holders, the notice to state that no representation
is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of redemption or exchange or Offer to Purchase. The Company will promptly notify the Trustee of any change in the CUSIP or CINS numbers. 

Section 2.09. Registration, Transfer and Exchange. (a) The Notes will be issued in
registered form only, without coupons. The Trustee shall maintain a register (the “Register”) of the Notes, for registering the record ownership of the Notes by the Holders and transfers and exchanges of the Notes. 

(b) (1) The Notes shall initially be issued in the form of one or more Global Notes. Each Global Note will be registered in the name of the
Depositary for such Global Note or its nominee and, so long as DTC is serving as the Depositary thereof, will bear the DTC Legend. 

(2) Each Global Note will be delivered to the Trustee as custodian for the Depositary. Transfers of a Global Note (but not a
beneficial interest therein) will be limited to transfers thereof in whole, but not in part, to the Depositary, its successors or their respective nominees, except (i) as set forth in Section 2.09(b)(4), (ii) if the Company in its sole
discretion determines that any Global Note (in whole but not in part) should be exchanged for Certificated Notes and delivers a written notice to such effect to the Trustee, and (iii) transfers of portions thereof in the form of Certificated
Notes may be made upon request of an Agent Member (for itself or on behalf of a beneficial owner) if required to do so pursuant to any applicable law or regulation, by written notice given to the Trustee by or on behalf of the Depositary in
accordance with customary procedures of the Depositary and the Registrar and in compliance with this Section and Section 2.10. 

(3) Members of, or participants in, the Depositary (“Agent Members”) will have no rights under this Indenture
with respect to any Global Note held on their behalf by the Depositary, or the Trustee as its custodian, and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and Holder of
such Global Note for all purposes whatsoever, including but not limited to notices and payments. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to
any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Note.
Notwithstanding anything to the contrary contained herein, any notice to be delivered to DTC (including, but not limited to, a notice of redemption) may be delivered electronically by the Trustee or the Company in accordance with Applicable
Procedures of DTC. 
 (4) If (x) the Depositary notifies the Company that it is unwilling or unable to continue as
Depositary for a Global Note and a successor depositary is not appointed by the Company within 120 days of the notice or (y) an Event of Default has occurred and is 

  
 46 

 
continuing and the Trustee has received a request from Holders of a majority of the aggregate principal amount of outstanding Notes, the Trustee will promptly exchange each beneficial interest in
the Global Note for one or more Certificated Notes as provided by the Company in authorized denominations having an equal aggregate principal amount registered in the name of the owner of such beneficial interest, as identified to the Trustee by the
Depositary, and upon completion of full exchange of the positions in the Global Notes, the Global Note will be canceled. If such Global Note does not bear the Restricted Legend or the Regulation S Legend, as the case may be, then the Certificated
Notes issued in exchange therefor will not bear the Restricted Legend or the Regulation S Legend, as the case may be. If such Global Note bears the Restricted Legend or the Regulation S Legend, as the case may be, then the Certificated Notes issued
in exchange therefor will bear the Restricted Legend or the Regulation S Legend, as the case may be. 
 (c) Each Certificated Note will be
registered in the name of the Holder thereof or its nominee. 
 (d) A Holder may transfer a Note (or a beneficial interest therein) to
another Person or exchange a Note (or a beneficial interest therein) for another Note or Notes of any authorized denomination by presenting to the Trustee a written request therefor stating the name of the proposed transferee or requesting such an
exchange, accompanied by any certification, opinion or other document required by Section 2.10. The Trustee will promptly register any transfer or exchange that meets the requirements of this Section by noting the same in the register
maintained by the Trustee for the purpose; provided that: 
 (x) no such transfer or exchange will be effective until
it is registered in such register; and 
 (y) neither the Trustee nor the Company will be required (i) to issue,
register the transfer of or exchange any Note for a period beginning (1) 15 days before the delivery or mailing of a notice of redemption of Notes or an Offer to Purchase or (2) 15 days before a selection of Notes to be redeemed or purchased
pursuant to an Offer to Purchase, (ii) to register the transfer of or exchange any Note so selected for redemption or purchase in whole or in part, except, in the case of a partial redemption or purchase, that portion of any Note not being
redeemed or purchased, or (iii) if a redemption or a purchase pursuant to an Offer to Purchase is to occur after a Regular Record Date but on or before the corresponding Interest Payment Date, to register the transfer of or exchange any Note on
or after the Regular Record Date and before the date of redemption or purchase. Prior to the registration of any transfer, the Company, the Trustee and their agents may deem and treat the Person in whose name the Note is registered as the owner and
Holder thereof for all purposes (whether or not the Note is overdue), including without limitation the transfer or exchange of such Note, and none of the Company, the Trustee or any Agent shall be affected by notice to the contrary. 

(e) The transfer and exchange of beneficial interests in the Global Notes shall be effected through the Depositary, in accordance with the
provisions hereof and the Applicable Procedures of the Depositary. No written request with respect to any such transfer shall be required to be delivered to the Trustee pursuant to Section 2.09(d) to effect the transfer of a

  
 47 

 
beneficial interest in a Global Note to a Person who takes delivery thereof in the form of a beneficial interest in the same Global Note. 

(f) From time to time the Company will execute and the Trustee will, upon receipt of an Authentication Order, authenticate Global Notes and
Certificated Notes as necessary in order to permit the registration of a transfer or exchange in accordance with this Section 2.09. 

(g) No service charge will be imposed in connection with any registration of any transfer or exchange of any Note, but the Company may require
payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than a transfer tax or other similar governmental charge payable upon exchange pursuant to subsection (b)(4)). 

(h) The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed
under this Indenture or under applicable law with respect to any transfer of any interest in any Note other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when
expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

(i) (1) Global Note to Global Note. If a beneficial interest in a Global Note is transferred or exchanged for a beneficial interest in
another Global Note, the Trustee will (x) record a decrease in the principal amount of the Global Note being transferred or exchanged equal to the principal amount of such transfer or exchange and (y) record a like increase in the
principal amount of the other Global Note. Any beneficial interest in one Global Note that is transferred to a Person who takes delivery in the form of an interest in another Global Note, or exchanged for an interest in another Global Note, will,
upon transfer or exchange, cease to be an interest in such Global Note and become an interest in the other Global Note and, accordingly, will thereafter be subject to all transfer and exchange restrictions, if any, and other procedures applicable to
beneficial interests in such other Global Note for as long as it remains such an interest. 
 (2) Global Note to
Certificated Note. If a beneficial interest in a Global Note is transferred or exchanged for a Certificated Note, the Trustee will (x) record a decrease in the principal amount of such Global Note equal to the principal amount of such
transfer or exchange and (y) deliver one or more new Certificated Notes in authorized denominations having an equal aggregate principal amount to the transferee (in the case of a transfer) or the owner of such beneficial interest (in the case
of an exchange), registered in the name of such transferee or owner, as applicable. 
 (3) Certificated Note to Global
Note. If a Certificated Note is transferred or exchanged for a beneficial interest in a Global Note, the Trustee will (x) cancel such Certificated Note, (y) record an increase in the principal amount of such Global Note equal to the
principal amount of such transfer or exchange and (z) in the event that such transfer or exchange involves less than the entire principal amount of the canceled Certificated Note, deliver to the Holder thereof one or more new Certificated Notes
in authorized denominations having an aggregate principal amount equal to the 

  
 48 

 
untransferred or unexchanged portion of the canceled Certificated Note, registered in the name of the Holder thereof. 

(4) Certificated Note to Certificated Note. If a Certificated Note is transferred or exchanged for another Certificated
Note, the Trustee will (x) cancel the Certificated Note being transferred or exchanged, (y) deliver one or more new Certificated Notes in authorized denominations having an aggregate principal amount equal to the principal amount of such
transfer or exchange to the transferee (in the case of a transfer) or the Holder of the canceled Certificated Note (in the case of an exchange), registered in the name of such transferee or Holder, as applicable, and (z) if such transfer or
exchange involves less than the entire principal amount of the canceled Certificated Note, deliver to the Holder thereof one or more Certificated Notes in authorized denominations having an aggregate principal amount equal to the untransferred or
unexchanged portion of the canceled Certificated Note, registered in the name of the Holder thereof. 
 Section 2.10. Restrictions
on Transfer and Exchange. (a) The transfer or exchange of any Note (or a beneficial interest therein) may only be made in accordance with this Section, Section 2.09 and Section 2.11, and, in the case of a Global Note (or a
beneficial interest therein), the applicable rules and procedures of the Depositary. The Trustee shall refuse to register any requested transfer or exchange that does not comply with the preceding sentence. 

(b) Subject to paragraph (c), the transfer or exchange of any Note (or a beneficial interest therein) of the type set forth in column A below
for a Note (or a beneficial interest therein) of the type set forth opposite in column B below may only be made in compliance with the certification requirements (if any) described in the clause of this Section 2.10(b) set forth opposite in
column C below. 
  

					
	A	  	B	  	C
	U.S. Global Note	  	U.S. Global Note	  	(1)
	U.S. Global Note	  	Offshore Global Note	  	(2)
	U.S. Global Note	  	Certificated Note	  	(3)
	Offshore Global Note	  	U.S. Global Note	  	(4)
	Offshore Global Note	  	Offshore Global Note	  	(1)
	Offshore Global Note	  	Certificated Note	  	(3)
	Certificated Note	  	U.S. Global Note	  	(4)
	Certificated Note	  	Offshore Global Note	  	(2)
	Certificated Note	  	Certificated Note	  	(3)

 (1) No certification is required. 

(2) The Person requesting the transfer or exchange must deliver or cause to be delivered to the Trustee a duly completed
Regulation S Certificate; provided that if the requested transfer or exchange is made by the Holder of a Certificated Note that does not bear the Restricted Legend, then no certification is required. 

(3) The Person requesting the transfer or exchange must deliver or cause to be delivered to the Trustee (x) a duly
completed Rule 144A Certificate, (y) a duly completed 

  
 49 

 
Regulation S Certificate or (z) a duly completed Institutional Accredited Investor Certificate, and/or an Opinion of Counsel and such other certifications and evidence as the Trustee or the
Company may reasonably require in order to determine that the proposed transfer or exchange is being made in compliance with the Securities Act and any applicable securities laws of any state of the United States; provided that if the
requested transfer or exchange is made by the Holder of a Certificated Note that does not bear the Restricted Legend, then no certification is required. In the event that (i) the requested transfer or exchange takes place after the Restricted
Period and a duly completed Regulation S Certificate is delivered to the Trustee or (ii) a Certificated Note that does not bear the Restricted Legend is surrendered for transfer or exchange, upon transfer or exchange the Trustee will deliver a
Certificated Note that does not bear the Restricted Legend. 
 (4) The Person requesting the transfer or exchange must
deliver or cause to be delivered to the Trustee a duly completed Rule 144A Certificate. 
 (c) No certification is required in connection
with any transfer or exchange of any Note (or a beneficial interest therein) after such Note is eligible for resale pursuant to Rule 144 under the Securities Act (or a successor provision) without the need for current public information;
provided that the Company has provided the Trustee with an Officers’ Certificate to that effect, and the Company may require from any Person requesting a transfer or exchange in reliance upon this clause (1) an opinion of counsel
and any other reasonable certifications and evidence in order to support such certificate. Any Certificated Note delivered in reliance upon this Section 2.10(c) will not bear the Restricted Legend. 

(d) The Trustee will retain copies of all certificates, opinions and other documents received in connection with the transfer or exchange of a
Note (or a beneficial interest therein), and the Company will have the right to inspect and make copies thereof at any reasonable time upon written notice to the Trustee. 

Section 2.11. Offshore Global Notes. (a) Each Note originally sold by the Initial
Purchasers in reliance upon Regulation S will be evidenced by one or more Offshore Global Notes that bear the Regulation S Legend. During the Restricted Period, beneficial interests in the Offshore Global Note may only be transferred to or for the
account or benefit of Non-U.S. Persons (other than an Initial Purchaser), unless permitted by applicable law. 

ARTICLE 3 

REDEMPTION; OFFER TO PURCHASE 

Section 3.01. Optional Redemption. 

(a) At any time prior to July 15, 2023, upon not less than ten nor more than 60 days’ prior notice delivered or mailed to each
Holder or otherwise given in accordance with the procedures of the Depositary, the Company may redeem all or part of the Notes at a redemption price equal to 100.0% of the aggregate principal amount thereof plus the Applicable Premium as of, plus
accrued and unpaid interest, if any, to, the applicable redemption date (subject to the 

  
 50 

 
right of Holders of record on the relevant Regular Record Date to receive interest due on an Interest Payment Date falling on or prior to such redemption date). 

(b) At any time prior to July 15, 2023, the Company may on any one or more occasions redeem up to 40% of the aggregate original principal
amount of Notes issued under this Indenture (calculated after giving effect to any issuance of Additional Notes) with the net cash proceeds of one or more Equity Offerings at a redemption price of 106.500% of the aggregate principal amount thereof,
plus accrued and unpaid interest, if any, to the applicable redemption date (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on an Interest Payment Date falling on or prior to such redemption
date); provided that: 
 (1) at least 50% of the aggregate original principal amount of Notes issued under this
Indenture (calculated after giving effect to any issuance of Additional Notes) remains outstanding immediately after each such redemption; and 

(2) such redemption occurs within 180 days after the closing of such Equity Offering. 

(c) Except pursuant to clause (a) or (b) of this Section 3.01 or Section 4.14(f), the Notes will not be redeemable at the
Company’s option prior to July 15, 2023. 
 (d) On and after July 15, 2023, the Company may, at its option, redeem all or,
from time to time, a part of the Notes upon not less than ten nor more than 60 days’ notice, at the following redemption prices (expressed as a percentage of principal amount of the Notes to be redeemed) set forth below, plus accrued and unpaid
interest on the Notes, if any, to the applicable redemption date (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on an Interest Payment Date falling on or prior to such redemption date), if
redeemed during the twelve-month period beginning on July 15 of the years indicated below: 
  

					
	 Year
	  	Percentage	 
	 2023
	  	 	103.250	% 
	 2024
	  	 	101.625	% 
	 2025 and thereafter
	  	 	100.000	% 

 (e) Any redemption pursuant to this Section 3.01 shall be made pursuant to the provisions of
Section 3.03 hereof. 
 (f) If the optional redemption date is on or after a Regular Record Date and on or before the related Interest
Payment Date, the accrued and unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business, on such Regular Record Date. 

(g) Any redemption notice may, at the Company’s discretion, be subject to one or more conditions precedent. The redemption date of any
redemption that is subject to the satisfaction of one or more conditions precedent may, at the Company’s discretion, be delayed 

  
 51 

 
until such time as any or all such conditions shall be satisfied (or waived by the Company in its discretion), or such redemption may not occur and any notice with respect to such redemption may
be modified or rescinded in the event that any or all such conditions shall not have been satisfied (or waived by the Company in its discretion) by the redemption date, or by the redemption date so delayed (which may exceed 60 days from the date of
the redemption notice in such case). In addition, such notice of redemption may be extended, if such conditions shall not have been satisfied (or waived by the Company in its discretion) by providing notice to the Holders; provided, however, any
such notice of extension of redemption date shall be delivered or mailed to each Holder or otherwise given in accordance with the Applicable Procedures of the Depositary at least one Business Day prior to the previously scheduled redemption date.

 Section 3.02. Mandatory Redemption. The Company shall not be required to make any mandatory redemption or sinking fund
payments with respect to the Notes. 
 Section 3.03. Method and Effect of Redemption.
(a) If the Company elects to redeem Notes pursuant to Section 3.01 or Section 4.14(f), it shall furnish to the Trustee, at least two Business Days (or such shorter period as the Trustee may agree) before the notice of redemption
is required to be mailed or caused to be mailed to Holders pursuant to Section 3.01 or Section 4.14(f), an Officers’ Certificate setting forth (i) the paragraph or subparagraph of such Note and/or Section of this Indenture
pursuant to which the redemption shall occur, (ii) the redemption date, (iii) the principal amount of the Notes to be redeemed and (iv) the redemption price. 

(b) Notices of redemption must be delivered or mailed by the Company or, at the Company’s request, by the Trustee in the name and at the
expense of the Company, at least ten days but not more than 60 days before the redemption date to each Holder of Notes to be redeemed at such Holder’s registered address or otherwise in accordance with the procedures of the Depositary, except
that, notwithstanding Section 3.01 and Section 4.14(f), redemption notices may be delivered or mailed more than 60 days prior to a redemption date if the notice is issued in connection with Article 8 or Article 11 hereof. 

(c) The notice of redemption will identify the Notes to be redeemed and will include or state the following: 

(1) the redemption date; 

(2) the redemption price; 

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

(4) Notes called for redemption must be surrendered to the Paying Agent in order to collect the redemption price; 

(5) on the redemption date the redemption price will become due and payable on Notes called for redemption, and interest on
Notes called for redemption will cease to accrue on and after the redemption date; 
 (6) if any Note is redeemed in part
only, on or after the redemption date, upon surrender of such Note for cancellation, a new Note equal in principal amount to the 

  
 52 

 
unredeemed portion of the original Note will be issued in the name of the Holder upon cancellation of the original Note; and 

(7) if any Note contains a CUSIP or CINS number, no representation is being made as to the correctness of the CUSIP or CINS
number either as printed on the Notes or as contained in the notice of redemption and that the Holder should rely only on the other identification numbers printed on the Notes. 

(d) If fewer than all of the Notes are being redeemed, selection of the Notes for redemption will be made by the Trustee in compliance with
the requirements of the principal national securities exchange, if any, on which the Notes are listed and in such manner as complies with applicable legal requirements and, in the case of Global Notes, the procedures of the Depositary;
provided that the selection of Notes for redemption shall not result in a Holder with a principal amount of Notes less than the minimum denomination of $2,000. In the event of partial redemption, the particular Notes to be redeemed shall be
selected, unless otherwise provided herein, not less than ten nor more than 60 days prior to the redemption date by the Trustee from the outstanding Notes not previously called for redemption or purchase. The Trustee will notify the Company promptly
of the Notes or portions of Notes selected for redemption, and, in the case of any Note selected for partial redemption, the principal amount thereof to be redeemed. 

(e) Once notice of redemption is delivered or mailed to the Holders in accordance with Section 3.03(b), Notes called for redemption
become due and payable at the redemption price on the redemption date, and upon surrender of the Notes called for redemption, the Company shall redeem such Notes at the redemption price, subject in each case to the satisfaction or waiver of any
conditions to such redemption set forth in the notice of redemption in the case of a conditional redemption pursuant to Section 3.01(g). Commencing on the redemption date, Notes redeemed will cease to accrue interest. A notice of redemption, if
delivered or mailed in a manner herein provided, shall be conclusively presumed to have been given, whether or not the Holder receives such notice. In any case, failure to deliver or mail a notice of redemption or any defect in the notice to the
Holder of any Note designated for redemption in whole or in part shall not affect the validity of the proceedings for the redemption of any other Note. Upon surrender of any Note redeemed in part to the Trustee for cancellation, the Trustee will
promptly authenticate and mail (or cause to be transferred by book entry) to the Holder a new Note equal in principal amount to the unredeemed portion of the surrendered Note; provided that each such new Note shall be in a principal amount of
$2,000 or integral multiples of $1,000 in excess thereof. It is understood that, notwithstanding anything in this Indenture to the contrary, only an Authentication Order and not an Opinion of Counsel or Officers’ Certificate is required for the
Trustee to authenticate such new Note. 
 Section 3.04. Offer to Purchase. (a) An “Offer to
Purchase” means an offer by the Company to purchase Notes that is required by Section 4.10 or Section 4.14. The Company will notify the Trustee at least two Business Days (or such shorter period as the Trustee may agree) prior to
the commencement of an Offer to Purchase. 
 (b) The Company shall send or cause to be sent notices of an Offer to Purchase by first class
mail, postage prepaid, or electronically, at least ten days but not more than 60 days 

  
 53 

 
before the purchase date to each Holder at such Holder’s registered address or otherwise in accordance with the procedures of the Depositary. The Offer to Purchase shall be made to all
Holders and, to the extent required by the terms of other Pari Passu Indebtedness, holders of Pari Passu Indebtedness. The notice of an Offer to Purchase, if delivered or mailed in a manner herein provided, shall be conclusively presumed to have
been given, whether or not the Holder receives such notice. In any case, failure to deliver or mail an Offer to Purchase or any defect in the notice to the Holder of any Note designated for purchase in whole or in part shall not affect the validity
of the proceedings for the purchase of any other Note. 
 (c) The notice of an Offer to Purchase for an Asset Sale Offer must include or
state the following: 
 (1) that an Asset Sale Offer is being made pursuant to this Indenture; 

(2) the aggregate principal amount of the outstanding Notes and, if applicable, Pari Passu Indebtedness offered to be purchased
by the Company pursuant to the Asset Sale Offer (the “Purchase Amount”); 
 (3) the purchase price; 

(4) an expiration date for the Offer to Purchase (the “Expiration Date”) not less than ten days or more than
60 days after the commencement of the Asset Sale Offer, and a settlement date for purchase (the “Purchase Date”) not more than five Business Days after the Expiration Date; 

(5) a Holder may tender all or any portion of its Notes, subject to the requirement that any portion of a Note tendered must be
in minimum amounts of $2,000 and in integral multiples of $1,000 in excess thereof; 
 (6) each Holder electing to tender a
Note pursuant to the Asset Sale Offer will be required to surrender such Note, with the form entitled “Option of Holder to Elect Purchase” attached to the Note completed, or transfer by book-entry transfer, to the Company, the Depositary,
if appointed by the Company, or a Paying Agent, as applicable, at the address specified in the notice, prior to the time specified in the notice on the Expiration Date in order to be accepted for purchase in the Offer to Purchase (any such Note
being duly endorsed or accompanied by a duly executed written instrument of transfer); 
 (7) interest on any Note not
tendered, or tendered but not accepted for purchase by the Company pursuant to the Offer to Purchase, will continue to accrue; 

(8) on the Purchase Date the purchase price will become due and payable on each Note accepted for purchase, and interest on
Notes purchased will cease to accrue on and after the Purchase Date; 
 (9) Holders are entitled to withdraw Notes tendered
by giving notice, which must be received by the Company, the Depositary or the applicable Paying Agent, as the case may be, not later than the time specified in the notice on the Expiration Date, setting

  
 54 

 
forth the name of the Holder, the principal amount of the tendered Notes and a statement that the Holder is withdrawing its election to have such Notes purchased; 

(10) (i) if Notes and, if applicable, Pari Passu Indebtedness in an aggregate principal amount less than or equal to the
Purchase Amount are duly tendered or surrendered by the holders or lenders thereof and not duly withdrawn pursuant to the Offer to Purchase, the Company will purchase all such Notes, and (ii) if Notes and, if applicable, Pari Passu Indebtedness
in an aggregate principal amount in excess of the Purchase Amount are duly tendered or surrendered by the holders or lenders thereof and not duly withdrawn pursuant to the Offer to Purchase, that the Company shall select the Notes to be purchased in
the manner provided in this Indenture and, if applicable, the amount of Notes and Pari Passu Indebtedness accepted for purchase shall be determined on a pro rata basis based on the principal amount of Notes and Pari Passu Indebtedness accepted for
purchase (with such adjustments as may be appropriate so that only Notes in minimum amounts of $2,000 or in integral multiples of $1,000 in excess thereof are purchased); 

(11) if any Note is purchased in part only, on or after the Purchase Date, upon surrender of such Note for cancellation, a new
Note or new Notes equal in principal amount to the unpurchased portion of the original Note will be issued in the name of the Holder upon cancellation of the original Note; and 

(12) if any Note contains a CUSIP or CINS number, no representation is being made as to the correctness of the CUSIP or CINS
number either as printed on the Notes or as contained in the notice of the Offer to Purchase and that the Holder should rely only on the other identification numbers printed on the Notes. 

(d) If any Note is to be purchased in part only pursuant to an Offer to Purchase, any notice of purchase from any Holder that relates to such
Note shall state the portion of the principal amount thereof that has been or is to be purchased. 
 (e) Prior to the purchase date, the
Company shall accept validly tendered Notes for purchase as required by the Offer to Purchase and deliver or cause to be delivered to the Trustee all Notes so accepted together with an Officers’ Certificate specifying which Notes have been
accepted for purchase and directing the Trustee to cancel such Notes. On the purchase date, the purchase price will become due and payable on each Note accepted for purchase, and interest on Notes purchased will cease to accrue on and after the
purchase date, subject in each case to the satisfaction or waiver of any conditions to such purchase set forth in the Offer to Purchase in the case of a conditional offer pursuant to Section 4.14(g). Upon surrender of any Note purchased in part
to the Trustee for cancellation, the Trustee will promptly authenticate and mail (or cause to be transferred by book entry) to the Holder a new Note equal in principal amount to the unpurchased portion of the surrendered Note; provided that
each such new Note shall be in a minimum principal amount of $2,000 or integral multiples of $1,000 in excess thereof. It is understood that, notwithstanding anything in this Indenture to the contrary, only an Authentication Order and not an Opinion
of Counsel or Officers’ Certificate is required for the Trustee to authenticate such new Note. 

  
 55 

 (f) If fewer than all of the Notes are being purchased, selection of the Notes for purchase
will be made by the Company in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed (so long as the Trustee knows of such listing) and in such manner as complies with applicable legal
requirements and, in the case of Global Notes, the procedures of the Depositary; provided that the selection of Notes for purchase shall not result in a Holder with a principal amount of Notes less than the minimum denomination of $2,000. The
Company will notify the Trustee promptly of the Notes or portions of Notes selected for purchase, and, in the case of any Note selected for partial purchase, the principal amount thereof to be purchased. 

(g) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other
securities laws and regulations, in each case to the extent such laws, rules or regulations are applicable in connection with the repurchase of Notes pursuant to the Offer to Purchase. To the extent that the provisions of any securities laws or
regulations conflict with the provisions of this covenant, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Indenture by virtue thereof. 

ARTICLE 4 

COVENANTS 
 
Section 4.01. Payment of Notes. (a) The Company agrees to pay the principal of, premium, if any, on and interest on the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest
shall be considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary, holds as of noon (New York City time) on the due date money deposited by the Company in immediately available funds and designated for and
sufficient to pay all principal, premium, if any, and interest then due. 
 (b) The Company agrees to pay interest on overdue principal,
and, to the extent lawful, overdue installments of interest at the rate per annum specified in the Notes. 
 (c) Payments in respect of the
Notes represented by the Global Notes are to be made by wire transfer of immediately available funds to the accounts specified by the Holders of the Global Notes. With respect to Certificated Notes, the Company will make all payments by wire
transfer of immediately available funds to the accounts specified by the Holders thereof or, if no such account is specified, by mailing a check to each Holder’s registered address. 

Section 4.02. Maintenance of Office or Agency. (a) The Company shall maintain an office or agency (which may be an
office of the Trustee or an affiliate of the Trustee or the Registrar) where Notes may be surrendered for registration of transfer or exchange or for presentation for payment and where notices and demands to or upon the Company in respect of the
Notes and this Indenture may be served; provided that legal service of process on the Company may not be served at any such office of the Trustee or an affiliate of the Trustee. The Company hereby initially designates the Corporate Trust
Office of the Trustee as one such office or agency of the Company. The Company shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company fails to maintain
any such required office or agency or fails to furnish the Trustee with the 

  
 56 

 
address thereof, such presentations and surrenders may be made or served at the Corporate Trust Office of the Trustee. 

(b) The Company may also from time to time designate one or more other offices or agencies where the Notes may be surrendered or presented for
any or all of such purposes and may from time to time rescind such designations. The Company shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency.

 Section 4.03. Reports and Other Information. (a) Notwithstanding that the Company
is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act or otherwise reports on an annual and quarterly basis on forms provided for such annual and quarterly reporting pursuant to rules and regulations promulgated by
the SEC, the Company shall (a) file with the SEC (unless the SEC will not accept such filing), and (b) deliver to the Trustee and, upon written request, the registered Holders of the Notes, without cost to any Holder, from and after the
Issue Date: 
 (1) within the time periods specified by the Exchange Act (including all applicable extension periods), an
annual report on Form 10-K (or any successor or comparable form) containing the information required to be contained therein in all material respects (or required in such successor or comparable form); 

(2) within the time periods specified by the Exchange Act (including all applicable extension periods), a quarterly report on
Form 10-Q (or any successor or comparable form); and 
 (3) all current reports that
would be required to be filed with the SEC on Form 8-K (or any successor or comparable form). 
 (b)
In the event that the Company is not permitted to file such reports with the SEC pursuant to the Exchange Act, the Company shall nevertheless deliver to the Trustee and make available such Exchange Act reports to the registered Holders of the Notes
as if the Company were subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act within the time periods specified by the Exchange Act (including all applicable extension periods), which requirement may be satisfied by
posting such reports on its website within the time periods specified by this covenant. 
 (c) In addition, to the extent not satisfied by
the foregoing, the Company shall, for so long as any Notes are outstanding, make available to the Holders of the Notes and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the
Securities Act so long as the Notes are not freely transferable under the Securities Act. 
 (d) Delivery of such reports and information to
the Trustee is for informational purposes only and the Trustee’s receipt of such will not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s
compliance with any of its covenants hereunder (as to which the Trustee is entitled 

  
 57 

 
to rely exclusively on Officers’ Certificates). The Trustee shall have no liability or responsibility for the filing, timeliness, or content of such reports. 

(e) The Company will be deemed to have satisfied the information and reporting requirements of this Section 4.03 if the Company (or any
direct or indirect parent of the Company) has filed reports or registration statements containing such information with the SEC via the SEC’s Electronic Data Gathering, Analysis and Retrieval system (or any successor system) within the time
periods specified above and such reports are publicly available provided, however, that the Trustee shall have no obligation whatsoever to determine whether or not such information, documents or reports have been filed pursuant to such
system (or its successor). 
 (f) Notwithstanding the foregoing, such reports and other information required to be provided pursuant to this
Section 4.03 may be, rather than those of the Company, those of any direct or indirect parent of the Company. 
 Section 4.04.
Compliance Certificate. (a) The Company shall deliver to the Trustee within 120 days after the end of each fiscal year ending after the Issue Date a certificate from the principal executive, financial or accounting officer of the
Company stating that the officer has conducted or supervised a review of the activities of the Company and its Restricted Subsidiaries and their performance under this Indenture under the preceding fiscal year and that, based upon such review, to
the best of his or her knowledge, the Company has fulfilled its obligations hereunder or, if there has been a Default of which he or she has knowledge, specifying the Default and its nature and what action the Company is taking or proposes to take
with respect thereto. 
 (b) If any Default has occurred and is continuing under this Indenture, the Company shall deliver to the Trustee,
as soon as possible and in any event within 30 days after the Company becomes aware of the occurrence of a Default, an Officers’ Certificate specifying the Default, and what action the Company is taking or proposes to take with respect thereto.

 Section 4.05. Taxes. The Company shall pay or discharge, and cause each of its
Restricted Subsidiaries to pay or discharge before the same become delinquent all material taxes, assessments and governmental charges levied or imposed upon the Company or any Restricted Subsidiary or its income or profits or property, other than
any such tax, assessment or governmental charge that is being contested in good faith by appropriate negotiations or proceedings or where the failure to effect such payment or discharge is not adverse in any material respect to the Holders of the
Notes. 
 Section 4.06. Stay, Extension and Usury Laws. The Company and each Subsidiary Guarantor covenants, to the
extent that it may lawfully do so, that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law, wherever enacted, now or at any time hereafter
in force, or that may affect the covenants or the performance of this Indenture. The Company and each Subsidiary Guarantor hereby expressly waives, to the extent that it may lawfully do so, all benefit or advantage of any such law and covenants that
it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

  
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 Section 4.07. Limitation on Restricted
Payments. (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries, directly or indirectly, to: 

(1) declare or pay any dividend or make any distribution on account of the Company’s or any of its Restricted
Subsidiaries’ Capital Stock (including any payment in connection with any merger or consolidation involving the Company or any of its Restricted Subsidiaries) other than: 

(x) dividends or distributions payable solely in Capital Stock of the Company (other than Disqualified Stock); and 

(y) dividends or distributions by a Restricted Subsidiary so long as, if such Restricted Subsidiary is not a Wholly Owned
Subsidiary, the Company or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution; 

(2) purchase, redeem, retire or otherwise acquire for value any Capital Stock of the Company or any direct or indirect parent
of the Company held by Persons other than the Company or a Restricted Subsidiary (other than in exchange for Capital Stock of the Company (other than Disqualified Stock)); 

(3) make any principal payment on, or purchase, repurchase, redeem, defease or otherwise acquire or retire for value, prior to
any scheduled maturity, scheduled repayment or scheduled sinking fund payment, any Subordinated Obligations or Guarantor Subordinated Obligations, other than: 

(x) Indebtedness of the Company owing to and held by any Restricted Subsidiary or Indebtedness of a Subsidiary Guarantor owing
to and held by the Company or any Restricted Subsidiary; or 
 (y) the purchase, repurchase, redemption, defeasance or other
acquisition or retirement of Subordinated Obligations or Guarantor Subordinated Obligations in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such
purchase, repurchase, redemption, defeasance or other acquisition or retirement; or 
 (4) make any Restricted Investment;

 (all such payments and other actions referred to in clauses (1) through (4) (other than any exception thereto) being collectively referred to as
“Restricted Payments”), unless, at the time of and after giving effect to such Restricted Payment: 

(A) no Default shall have occurred and be continuing (or would result therefrom); 

  
 59 

 (B) immediately after giving effect to such Restricted Payment on a Pro
Forma Basis, the Company would be permitted to Incur $1.00 of additional Indebtedness as Ratio Debt; and 
 (C) such
Restricted Payment, together with the aggregate amount of all other Restricted Payments declared or made subsequent to the Issue Date (including Restricted Payments permitted by clauses (4), (5), (6) and (14) of Section 4.07(b), but
excluding all other Restricted Payments permitted by Section 4.07(b)) would not exceed the sum of (without duplication): 

(i) 50.0% of the Company’s Consolidated Net Income for the period (taken as one accounting period) beginning on
October 3, 2009 to the end of the Company’s most recently ended fiscal quarter for which internal financial statements prepared on a consolidated basis are available; plus 

(ii) 100.0% of the aggregate net proceeds, including cash and the Fair Market Value of assets or property other than cash,
received by the Company since October 22, 2009 from the issue or sale of its Capital Stock (other than Disqualified Stock), including Capital Stock issued upon exercise of warrants or options; plus 

(iii) 100.0% of the aggregate amount of contributions to the capital of the Company received in cash and the Fair Market Value
of assets or property received other than cash (other than Disqualified Stock); plus 
 (iv) 100.0% of any cash
dividends or cash distributions received directly or indirectly by the Company or a Restricted Subsidiary after the Issue Date from an Unrestricted Subsidiary, to the extent that such dividends or distributions were not otherwise included in
Consolidated Net Income; plus 
 (v) the amount by which Indebtedness of the Company or its Restricted Subsidiaries
is reduced on the Company’s consolidated balance sheet upon the conversion or exchange subsequent to the Issue Date of any Indebtedness of the Company or its Restricted Subsidiaries (other than debt owing to and held by a Subsidiary of the
Company) convertible or exchangeable for Capital Stock (other than Disqualified Stock) of the Company (less the amount of any cash, or the Fair Market Value of any other assets or property, distributed by the Company upon such conversion or
exchange); plus 
 (vi) 100.0% of the aggregate amount received by the Company or any Restricted Subsidiary in cash
and the Fair Market Value of assets or property (other than cash) received by the Company or any Restricted Subsidiary from: 

  
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 (A) (i) the sale or other disposition (other than to the Company or a
Restricted Subsidiary) of Restricted Investments made by the Company and its Restricted Subsidiaries in any Person, (ii) repurchases and redemptions of such Restricted Investments from the Company or a Restricted Subsidiary by any Person (other
than the Company or a Restricted Subsidiary), and (iii) prepayments or repayments of loans or advances or other transfers of assets or property (including by way of dividend or distribution) by such Person to the Company or any Restricted
Subsidiary (other than for reimbursement of tax payments); 
 (B) the sale (other than to the Company or a Restricted
Subsidiary) of the Capital Stock of an Unrestricted Subsidiary; or 
 (C) any distribution or dividend from an Unrestricted
Subsidiary; plus 
 (vii) in the event any Unrestricted Subsidiary has been redesignated as a Restricted Subsidiary
or has been merged, consolidated or amalgamated with or into, or transfers or conveys its assets to, or is liquidated into, the Company or a Restricted Subsidiary, in each case after the Issue Date, the Fair Market Value of the Investment of the
Company and its Restricted Subsidiaries in such Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable) (valued in each case as provided in the definition of
“Investment”), other than to the extent constituting a Permitted Investment; plus 
 (viii) the aggregate
amount of Retained Declined Proceeds since the Issue Date (to the extent Holders were provided notice in connection with the Asset Sale Offer related thereto that any Excess Proceeds not accepted by the Holders shall constitute Retained Declined
Proceeds and such Retained Declined Proceeds will increase the amount available for Restricted Payments under clause (C) of this Section 4.07(a) to the extent not otherwise applied in accordance with Section 4.07(b)(4)). 

(b) Section 4.07(a) shall not prohibit: 

(1) a Restricted Payment made by exchange for, or out of the proceeds of the issuance or sale of, Capital Stock of the Company
(other than Disqualified Stock and other than Capital Stock issued or sold to a Subsidiary or an employee stock ownership plan or similar trust to the extent such sale to an employee stock ownership plan or similar trust is financed by loans from or
Guaranteed by the Company or any Restricted Subsidiary unless such loans have been repaid with cash on or prior to the date of 

  
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determination) or any cash capital contribution to the Company; provided, however, that the amount of net proceeds from such sale of Capital Stock that is utilized for such Restricted
Payment will be excluded from clause (C)(ii) of Section 4.07(a); 
 (2) any payment, purchase, repurchase, redemption,
defeasance or other acquisition or retirement of Subordinated Obligations of the Company or Guarantor Subordinated Obligations of any Subsidiary Guarantor made by exchange for, or out of the proceeds of, Refinancing Indebtedness; 

(3) any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Capital Stock of the Company or any
direct or indirect parent of the Company made by exchange for, or out of the proceeds of the issuance or sale of, Capital Stock of the Company or any direct or indirect parent of the Company or contributions to the equity capital of the Company
(other than Disqualified Stock); 
 (4) any payment, purchase, repurchase, redemption, defeasance or other acquisition or
retirement of any Subordinated Obligation, Disqualified Stock or Preferred Stock pursuant to provisions similar to those described under Section 4.10 and Section 4.14; provided that, prior to or simultaneously with such
payment, purchase, repurchase, redemption, defeasance or other acquisition or retirement, the Company (or a third party, to the extent permitted by this Indenture) has made any Change of Control Offer or Asset Sale Offer, as the case may be, with
respect to the Notes and has repurchased, redeemed, defeased or retired all Notes validly tendered and not validly withdrawn in connection with such Change of Control Offer or Asset Sale Offer, as the case may be; 

(5) any payment, purchase, repurchase, redemption, retirement, defeasance or other acquisition for value of any Subordinated
Obligations or Guarantor Subordinated Obligations of a Subsidiary Guarantor from Net Cash Proceeds to the extent permitted under Section 4.10; 

(6) the payment of any dividend or distribution, or the consummation of any redemption, within 60 days after the date of
declaration thereof or the giving of a redemption notice related thereto, as the case may be, if at such date of declaration or notice such dividend, distribution or redemption would have complied with this provision; 

(7) the purchase, redemption or other acquisition, cancellation or retirement for value (or Restricted Payments to the Company
or any direct or indirect parent of the Company to finance any such purchase, redemption or other acquisition, cancellation or retirement for value) of Capital Stock (including related stock appreciation rights or similar securities) of the Company
or any direct or indirect parent of the Company held, directly or indirectly, by any future, present or former employee, officer, director, manager, consultant or independent contractor of the Company or any Subsidiary of the Company or their
assigns, estates, heirs, family members, spouses or former spouses or permitted transferees (including for all purposes of this clause (7) Capital Stock held by any entity whose Capital Stock is held by any such future, present or former
employee, officer, director, manager, consultant or independent contractor of the Company or any 

  
 62 

 
Subsidiary of the Company or their assigns, estates, heirs, family members, spouses or former spouses or permitted transferees) pursuant to any stock option plan or management equity plan or any
other management or employee benefit plan or other agreement or arrangement or any stock subscription or shareholder or similar agreement; provided that the aggregate amounts paid under this clause (7) shall not exceed $20.0 million
in the aggregate during any fiscal year (with unused amounts in any fiscal year being carried over for the next two succeeding fiscal years); provided, further that such amount in any fiscal year may be increased by an amount not to exceed:

 (A) the cash proceeds received from the Company from the issuance or sale of Capital Stock (other than Disqualified Stock)
of the Company or any direct or indirect parent of the Company (to the extent contributed to the Company), in each case to any future, present or former employees, officers, directors, managers, consultants or independent directors of the Company,
any Subsidiary of the Company or any direct or indirect parent of the Company that occurs on or after the Issue Date; provided that the amount of such cash proceeds utilized for any such purchase, redemption or other acquisition,
cancellation or retirement for value or dividend pursuant to this clause (7) will not increase the amount available for Restricted Payments under clause (C)(ii) of Section 4.07(a); plus 

(B) the cash proceeds of key man life insurance policies received by the Company or its Restricted Subsidiaries or any direct
or indirect parent of the Company (to the extent contributed to the Company) after the Issue Date; plus 
 (C) the
amount of any cash bonuses otherwise payable to employees, officers, directors, managers, consultants or independent contractors of the Company or its Restricted Subsidiaries or any direct or indirect parent of the Company that are forgone in return
for the receipt of Capital Stock; less 
 (D) the amount of cash proceeds described in the subclauses (A), (B) or
(C) of this clause (7) previously used to make Restricted Payments pursuant to this clause (7); provided that the Company may elect to apply all or any portion of the aggregate increase contemplated by subclause (A), (B) or
(C) above in any fiscal year; 
 provided, further, that cancellation of Indebtedness owing to the Company or any Restricted Subsidiary from any
future, current or former officer, director, employee, manager, consultant or independent contractor (or any permitted transferees thereof) of the Company or any of its Restricted Subsidiaries or any direct or indirect parent of the Company, in
connection with a repurchase of Capital Stock of the Company or any direct or indirect parent of the Company from such Persons will not be deemed to constitute a Restricted Payment for purposes of this covenant or any other provisions of this
Indenture; 

  
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 (8) the declaration and payment of dividends or distributions to holders of
any class or series of Disqualified Stock of the Company or any of its Restricted Subsidiaries Incurred in accordance with Section 4.09; 

(9) the purchase, redemption or other acquisition, cancellation or retirement of Capital Stock: (a) deemed to occur upon
the exercise or exchange of options, warrants, other rights to purchase or acquire Capital Stock or other securities convertible into or exchangeable for Capital Stock if such Capital Stock represents a portion of the exercise or exchange price
thereof, or (b) made in lieu of or in connection with withholding or similar taxes payable or expected to be payable by any future, present or former director, officer, employee, manager, consultant or independent contractor of the Company or
direct or indirect parent of the Company or any Subsidiary of the Company (or their respective Affiliates, estates, heirs or immediate family members) in connection with the exercise or exchange of options, warrants, other rights to purchase or
acquire Capital Stock or other securities convertible into or exchangeable for Capital Stock or the grant, vesting or delivery of any of the foregoing; 

(10) the distribution, by dividend or otherwise, of shares of Capital Stock of, or Indebtedness owed to the Company or a
Restricted Subsidiary by, Unrestricted Subsidiaries (other than Unrestricted Subsidiaries the primary assets of which are cash and/or Cash Equivalents); 

(11) payments in lieu of the issuance of fractional shares in connection with any merger, consolidation, amalgamation or other
business combination, or in connection with any dividend, distribution or split of, or the exercise or exchange of options, warrants or other rights to purchase or acquire Capital Stock or other securities convertible into or exchangeable for,
Capital Stock; 
 (12) the purchase, redemption, acquisition, cancellation or other retirement of any Capital Stock of the
Company or a Restricted Subsidiary to the extent necessary, in the good faith judgment of the Company, to prevent the loss or secure the renewal or reinstatement of any license, permit or other authorization held by the Company or any of its
Subsidiaries issued by any governmental or regulatory authority or to comply with government contracting regulations; 
 (13)
any payment of cash by the Company or any Subsidiary issuer to a holder of Convertible Notes upon conversion or exchange of such Convertible Notes, and entry into or any payment in connection with any termination of any Permitted Bond Hedge or any
Permitted Warrant; and 
 (14) other Restricted Payments in an aggregate amount, which, when taken together with all other
Restricted Payments made pursuant to this clause (14) (as reduced by the amount of capital repaid or otherwise returned from any such Restricted Payments that constituted Restricted Investments in the form of cash and Cash Equivalents (exclusive of
items reflected in Consolidated Net Income)) not to exceed the greater of (a) $75.0 million and (b) 2.5% of Total Assets. 

  
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 provided, however, that at the time of and after giving effect to, any Restricted Payment
permitted under clauses (5), (7), (8) and (14) of Section 4.07(b), no Event of Default shall have occurred and be continuing or would occur as a consequence thereof. 

(c) The amount of any Restricted Payment made in cash shall be its face amount. The amount of any other Restricted Payment shall be the Fair
Market Value (determined as of the date such Restricted Payment is made) of the assets, securities or other property proposed to be declared, paid, made, purchased, redeemed, retired, defeased or acquired pursuant to such Restricted Payment. 

(d) For purposes of this Section 4.07, if any Investment or Restricted Payment (or a portion thereof) would be permitted pursuant to one
or more provisions described above and/or one or more of the exceptions contained in the definition of “Permitted Investments,” the Company may divide and classify such Investment or Restricted Payment (or a portion thereof) in any manner
that complies with this covenant and may later divide and reclassify any such Investment or Restricted Payment so long as the Investment or Restricted Payment (as so divided and/or reclassified) would be permitted to be made in reliance on the
applicable exception as of the date of such reclassification. If the Company or any Restricted Subsidiary makes a Restricted Payment that, at the time of the making of such Restricted Payment, in the good faith determination of the Company, would be
permitted under this Indenture, such Restricted Payment shall be deemed to have been made in compliance with this Indenture notwithstanding any subsequent adjustments made in good faith to the financial statements of the Company (or any direct or
indirect parent of the Company) affecting Consolidated Net Income. 
 (e) For purposes of designating any Restricted Subsidiary as an
Unrestricted Subsidiary, all outstanding Investments by the Company and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated will be deemed to be Restricted Payments and/or Permitted Investments in an amount
determined as set forth in the definition of “Investment.” Such designation shall be permitted only if a Restricted Payment and/or Permitted Investment in such amount would be permitted at such time and if such Subsidiary otherwise meets
the definition of an Unrestricted Subsidiary. 
 Section 4.08. Limitation on Restrictions on Distributions from Restricted
Subsidiaries. (a) The Company shall not, and shall not permit any Restricted Subsidiary (other than a Subsidiary Guarantor) to, directly or indirectly, create or otherwise cause or permit to exist or become effective any consensual
encumbrance or consensual restriction on the ability of any Restricted Subsidiary (other than a Subsidiary Guarantor) to: 

(1) pay dividends or make any other distributions on its Capital Stock to the Company or any of its Restricted Subsidiaries, or
pay any Indebtedness owed to the Company or any Restricted Subsidiary (it being understood that the priority of any Preferred Stock in receiving dividends or liquidating distributions prior to dividends or liquidating distributions being paid on
Common Stock shall not be deemed a restriction on the ability to make distributions on Capital Stock); 
 (2) make any loans
or advances to the Company or any Restricted Subsidiary (it being understood that the subordination of loans or advances made to the Company or 

  
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any Restricted Subsidiary to other Indebtedness Incurred by the Company or any Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances); or 

(3) sell, lease or transfer any of its assets or property to the Company or any Restricted Subsidiary (it being understood that
such transfers shall not include any type of transfer described in clause (1) or (2) above). 
 (b) Section 4.08(a) shall not apply to
encumbrances or restrictions existing under or by reason of: 
 (1) contractual encumbrances or restrictions of the Company
or any of its Restricted Subsidiaries in effect on the Issue Date, including, without limitation, pursuant to the Senior Credit Facility, the Ex-Im Credit Facility, the Existing Notes due 2025, the Existing
Notes due 2027, related Hedging Obligations and Indebtedness permitted pursuant to clause (3) of Section 4.09(b); 

(2) this Indenture, the Notes and the Subsidiary Guarantees; 

(3) any agreement or other instrument of a Person acquired by or merged, amalgamated or consolidated with or into the Company
or any Restricted Subsidiary or of an Unrestricted Subsidiary that is designated a Restricted Subsidiary, in each case that was in existence at the time of such acquisition (or at the time it merges, amalgamates or consolidates with or into the
Company or any Restricted Subsidiary or is assumed in connection with the acquisition of assets or property from such Person) or designation, but, in each case, not created in contemplation thereof, which encumbrance or restriction is not applicable
to any Person, or the assets or property of any Person, other than the Person and its Subsidiaries, or the assets or property of the Person and its Subsidiaries, so acquired or designated (including after-acquired assets and property); 

(4) in the case of clause (3) of Section 4.08(a), Permitted Liens or Liens otherwise permitted to be Incurred under
the provisions of Section 4.12 that limit the right of the debtor to dispose of assets or property subject to such Liens; 

(5) purchase money obligations, mortgage financings, Capitalized Lease Obligations and similar obligations or agreements
permitted under this Indenture, in each case, that impose encumbrances or restrictions of the nature described in clause (3) of Section 4.08(a) with respect to the assets or property purchased, acquired, financed, designed, developed,
leased, constructed, repaired, replaced, maintained, installed, improved or insured in connection therewith or thereby (including any proceeds thereof, accessions thereto and any upgrades or improvements thereto); 

(6) encumbrances or restrictions contained in agreements for the sale, transfer or other disposition of assets or property,
including without limitation customary restrictions with respect to a Subsidiary of the Company pursuant to an agreement that has been entered into for the sale, transfer or other disposition of all or a portion of the Capital Stock, assets or
property of such Subsidiary; 

  
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 (7) restrictions on cash, Cash Equivalents or other deposits or net worth
imposed by customers, suppliers or landlords under contracts entered into in the ordinary course of business or as required by insurance surety or bonding companies; 

(8) any provisions in joint venture agreements, stockholders agreements, partnership agreements, LLC agreements and other
similar agreements, which (x) are customary or (y) do not adversely affect the Company’s ability to make payments of principal or interest payments on the Notes when due (as determined by the Company in good faith); 

(9) any provisions in leases, subleases, licenses, sublicenses, asset sale agreements, sale/leaseback agreements or stock sale
agreements and other agreements entered into by the Company or any Restricted Subsidiary that (x) are customary and entered into in the ordinary course of business or (y) do not adversely affect the Company’s ability to make payments
of principal or interest payments on the Notes when due (as determined by the Company in good faith); 
 (10) applicable law
or any applicable rule, regulation or order, or any license, permit or other authorization issued by any governmental or regulatory authority; 

(11) encumbrances or restrictions arising or agreed to in the ordinary course of business, not relating to any Indebtedness,
and that do not, individually or in the aggregate, (x) detract from the value of the assets or property of the Company or any Restricted Subsidiary in any manner material to the Company or any Restricted Subsidiary (as determined by the Company
in good faith), or (y) materially affect the Company’s ability to make payments of principal or interest payments on the Notes when due (as determined by the Company in good faith); 

(12) contractual encumbrances or restrictions contained in any Debt Facilities or other Indebtedness Incurred by the Company in
accordance with Section 4.09 that (x) are not materially more restrictive, when taken as a whole, than those applicable in either this Indenture or the Senior Credit Facility on the Issue Date (as determined by the Company in good faith),
or (y) do not adversely affect the Company’s ability to make payments of principal or interest payments on the Notes when due (as determined by the Company in good faith); or 

(13) any encumbrances or restrictions imposed by any amendment, restatement, modification, renewal, increase, supplement,
extension, refunding, replacement or refinancing of any of the contracts, agreements or other instruments referred to in the immediately preceding clauses (1) through (12) of this Section 4.08(b); provided, however,
that the encumbrances or restrictions contained in such amendment, restatement, modification, renewal, increase, supplement, extension, refunding, replacement or refinancing are, in the good faith judgment of the Company, not materially more
restrictive, when taken as a whole, than the encumbrances and restrictions prior to such amendment, restatement, modification, renewal, increase, supplement, extension, refunding, replacement or refinancing. 

  
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 Section 4.09. Limitation on Indebtedness. (a) The Company shall not, and
shall not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness); provided, however, that the Company and any Restricted Subsidiary may Incur Indebtedness (including
Acquired Indebtedness) if the Consolidated Coverage Ratio for the Company, calculated as of the date on which such additional Indebtedness is Incurred, would have been at least 2.00 to 1.00 (“Ratio Debt”); provided
that the aggregate principal amount of Indebtedness (including Acquired Indebtedness) outstanding at any one time that may be Incurred pursuant to the foregoing by Non-Guarantor Subsidiaries shall not
exceed the greater of (x) $200.0 million or (y) 25.0% of the Consolidated EBITDA of the Company for the most recently ended four consecutive fiscal quarters for which internal financial statements prepared on a consolidated basis are
available, calculated on a Pro Forma Basis. 
 (b) Section 4.09(a) shall not apply to the following Indebtedness (collectively,
“Permitted Debt”): 
 (1) Indebtedness of the Company or any Restricted Subsidiary Incurred
under a Debt Facility, the Guarantees thereof and the issuance and creation of letters of credit and bankers’ acceptances thereunder (with letters of credit and bankers’ acceptances being deemed to have a principal amount equal to the face
amount thereof), in an aggregate principal amount outstanding at any one time not to exceed (A) the greater of (x) $1,000.0 million and (y) 250.0% of the Consolidated EBITDA of the Company for the most recently ended four consecutive
fiscal quarters for which internal financial statements prepared on a consolidated basis are available, calculated on a Pro Forma Basis (with any amounts Incurred pursuant to subclause (B) hereof reducing the amount permitted to be Incurred
under this subclause (A)) or (B) an unlimited amount, so long as the Consolidated Senior Secured Debt Ratio does not exceed 3.50 to 1.00; provided, that, solely for purposes of calculating the Consolidated Senior Secured Debt Ratio under
this clause (1), any outstanding Indebtedness Incurred under this clause (1) that is unsecured shall nevertheless be deemed to be secured by a Lien; and provided further, that the maximum amount permitted to be outstanding
under this clause (1) shall not be deemed to limit additional Indebtedness under Debt Facilities to the extent that the Incurrence of such additional Indebtedness is permitted pursuant to Section 4.09(a) or any of the other provisions of
this Section 4.09; 
 (2) Indebtedness represented by the Notes (other than any Additional Notes), including any
Subsidiary Guarantee thereof; 
 (3) Indebtedness of the Company and its Restricted Subsidiaries in existence on the Issue
Date (other than Indebtedness described in clauses (1), (2), (4), (5) or (7) of this Section 4.09(b) that is Incurred or existing on the Issue Date); 

(4) Indebtedness (including, without limitation, Capitalized Lease Obligations, mortgage financings and purchase money
obligations) Incurred by the Company or any of its Restricted Subsidiaries to finance all or any part of the purchase, acquisition, design, development, lease, construction, replacement, maintenance, installation, improvement or insurance of any
property (real or personal), plant or 

  
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equipment or other fixed or capital assets (whether through the direct purchase of assets or property or the Capital Stock of any Person owning any such assets or property) or any satellite
launch or in-orbit insurance premiums or launch services, and any Indebtedness arising from the conversion of the obligations of the Company or any Restricted Subsidiary under or pursuant to any
“synthetic lease” transactions to on-balance sheet Indebtedness, including all Indebtedness Incurred to refund, refinance, replace, redeem, repurchase, retire, defease, discharge, exchange, renew,
repay, prepay or extend any Indebtedness Incurred pursuant to this clause (4), in an aggregate principal amount outstanding at any one time not to exceed (A) the greater of (x) $300.0 million and (y) 10.0% of Total Assets, plus, in
the case of any refinancing or replacement of Indebtedness permitted under this clause (4) or any portion thereof, the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, original issue discount, premiums (including
tender premiums), defeasance costs and other costs and expenses incurred in connection therewith (with any amounts Incurred pursuant to subclause (B) hereof reducing the amount permitted to be Incurred under this subclause (A)) or (B) an
unlimited amount, so long as the Consolidated Senior Secured Debt Ratio does not exceed 3.50 to 1.00; provided, that, solely for purposes of calculating the Consolidated Senior Secured Debt Ratio under this clause (4), any outstanding
Indebtedness Incurred under this clause (4) that is unsecured shall nevertheless be deemed to be secured by a Lien; 

(5) ECA Indebtedness Incurred by the Company or any of its Restricted Subsidiaries, including all Indebtedness Incurred to
refund, refinance, replace, redeem, repurchase, retire, defease, discharge, exchange, renew, repay, prepay or extend any Indebtedness Incurred pursuant to this clause (5), in an aggregate principal amount outstanding at any one time not to exceed
(A) the greater of (x) $100.0 million and (y) 30.0% of the Consolidated EBITDA of the Company for the most recently ended four consecutive fiscal quarters for which internal financial statements prepared on a consolidated basis are
available, calculated on a Pro Forma Basis, plus, in the case of any refinancing or replacement of Indebtedness permitted under this clause (5) or any portion thereof, the aggregate amount of fees, underwriting discounts, accrued and
unpaid interest, original issue discount, premiums (including tender premiums), defeasance costs and other costs and expenses incurred in connection therewith (with any amounts Incurred pursuant to subclause (B) hereof reducing the amount
permitted to be Incurred under this subclause (A)) or (B) an unlimited amount, so long as the Consolidated Senior Secured Debt Ratio does not exceed 3.50 to 1.00; provided, that, solely for purposes of calculating the Consolidated Senior
Secured Debt Ratio under this clause (5), any outstanding Indebtedness Incurred under this clause (5) that is unsecured shall nevertheless be deemed to be secured by a Lien; and provided further, that the maximum amount
permitted to be outstanding under this clause (5) shall not be deemed to limit additional ECA Indebtedness to the extent that the Incurrence of such additional ECA Indebtedness is permitted pursuant to Section 4.09(a) or any of the other
provisions of this covenant; 
 (6) any Guarantee by the Company or a Restricted Subsidiary of Indebtedness or any other
obligation of the Company or any Restricted Subsidiary so long as the 

  
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Incurrence of such Indebtedness or other obligation by the Company or such Restricted Subsidiary is permitted under the terms of this Indenture; 

(7) Indebtedness of the Company owing to a Restricted Subsidiary or Indebtedness of a Restricted Subsidiary owing to the
Company or another Restricted Subsidiary; provided, however, 
 (A) if the Company or a Subsidiary
Guarantor Incurs such Indebtedness owing to a Non-Guarantor Subsidiary, such Indebtedness is subordinated in right of payment to the Company’s Obligations with respect to this Indenture or the Subsidiary
Guarantee of such Subsidiary Guarantor, as applicable; and 
 (B) (i) any subsequent issuance or transfer of Capital Stock or
other event which results in any such Indebtedness being beneficially held by a Person other than the Company or a Restricted Subsidiary of the Company; and 

    (ii) any sale or other transfer of any such Indebtedness to a Person other than the Company or a
Restricted Subsidiary of the Company, 
 will be deemed, in each case, to constitute an Incurrence of such Indebtedness by the Company or
such Restricted Subsidiary, as the case may be. 
 (8) shares of Preferred Stock of a Restricted Subsidiary issued to the
Company or to another Restricted Subsidiary; provided, that any subsequent issuance or transfer of Capital Stock or other event which results in any Restricted Subsidiary that holds such Preferred Stock ceasing to be a Restricted
Subsidiary or any subsequent transfer of any such shares of Preferred Stock (except to the Company or another Restricted Subsidiary) shall be deemed, in each case, to constitute an issuance of Preferred Stock; 

(9) Indebtedness (x) (i) of the Company or a Restricted Subsidiary Incurred or assumed in connection with the acquisition
of any assets or property (including Capital Stock), business or Person or (ii) of any Person that is acquired by the Company or a Restricted Subsidiary or merged into or consolidated or amalgamated with the Company or a Restricted Subsidiary
in accordance with the terms of this Indenture and (y) Incurred or assumed in anticipation of, or in connection with, an acquisition of any assets or property (including Capital Stock), business or Person; provided, however, that
after giving effect to such acquisition, merger, consolidation or amalgamation and the Incurrence of such Indebtedness, either: 

(A) the Company would be permitted to Incur at least $1.00 of additional Indebtedness as Ratio Debt; or 

(B) the Consolidated Coverage Ratio of the Company is equal to or greater than such ratio immediately prior to such
acquisition, merger, consolidation or amalgamation; 

  
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 (10) Hedging Obligations or Cash Management Services not Incurred for
speculative purposes; 
 (11) obligations (including, without limitation, reimbursement obligations with respect to letters
of credit or bank guarantees or similar instruments) in respect of customs, self-insurance, performance, bid, appeal, surety and similar bonds and completion or performance guarantees and similar obligations provided by the Company or any Restricted
Subsidiary; 
 (12) Indebtedness Incurred by the Company or any of its Restricted Subsidiaries in respect of workers’
compensation claims, health, disability or other employee benefits (whether current or former) or property, casualty or liability insurance or self-insurance, self-insurance, or other Indebtedness with respect to reimbursement-type obligations
regarding workers’ compensation claims, health, disability or other employee benefits (whether current or former) or property, casualty or liability insurance, and any letters of credit or performance or surety bonds functioning as or
supporting any of the foregoing; 
 (13) the Incurrence of Indebtedness of the Company or a Restricted Subsidiary providing
for indemnification, earn-outs, adjustments of purchase or acquisition price or similar obligations, in each case Incurred or assumed in connection with the acquisition or disposition of any business, assets or property of the Company or any
business, assets, property or Capital Stock of a Subsidiary, other than Guarantees of Indebtedness Incurred by any Person acquiring all or any portion of such business, assets, property or a Subsidiary for the purpose of financing such acquisition;

 (14) Indebtedness (A) arising from the honoring by a bank or other financial institution of a check, draft or similar
instrument drawn against insufficient funds in the ordinary course of business or (B) owed or issued on a short-term basis to banks and other financial institutions in the ordinary course of business that arises in connection with ordinary
banking arrangements, including cash management, cash pooling arrangements and related activities to manage cash balances of the Company and its Subsidiaries and Permitted Joint Ventures, including treasury, depository, overdraft, credit, purchasing
or debit card, electronic funds transfer and other cash management arrangements and Indebtedness in respect of netting services, overdraft protection, credit card programs, automatic clearinghouse arrangements and similar arrangements; 

(15) the Incurrence by the Company or any Restricted Subsidiary of Refinancing Indebtedness in respect of any Indebtedness
Incurred as Ratio Debt or permitted under clauses (1)(B), (2), (3), (4)(B), (5)(B), (9) and this clause (15) of this Section 4.09(b); 

(16) Indebtedness of a Permitted Joint Venture to the Company or a Restricted Subsidiary and to the other holders of Capital
Stock of, or participants in, such Permitted Joint Venture, so long as the percentage of the aggregate amount of such Indebtedness owed to such holders of its Capital Stock or such participants does not exceed the percentage of the aggregate
outstanding amount of Capital Stock of such Permitted Joint 

  
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Venture held by such holders or such participants’ participation in such Permitted Joint Venture; 

(17) (A) customer deposits and advance payments received in the ordinary course of business from customers for equipment, goods
or services purchased or leased in the ordinary course of business, (B) Guarantees in the ordinary course of business in respect of obligations to suppliers, customers, franchisees, lessors, licensees,
sub-licensees and distribution partners and (C) Indebtedness consisting of the financing of insurance premiums or
take-or-pay obligations contained in supply arrangements, in each case in the ordinary course of business; 

(18) Indebtedness Incurred by the Company or its Restricted Subsidiaries in connection with bankers’ acceptances,
discounted bills of exchange, warehouse receipts or similar facilities, in each case Incurred or undertaken in the ordinary course of business; 

(19) Replacement Satellite Vendor Indebtedness in an aggregate principal amount outstanding at any one time not to exceed the
greater of (x) $25.0 million and (y) 2.5% of Total Assets; 
 (20) Indebtedness not exceeding the amount incurred to
finance the purchase of real property constituting certain portions of the Company’s headquarters in Carlsbad, California acquired by the Company or any of its Restricted Subsidiaries for use in the business of the Company or any of its
Restricted Subsidiaries in an aggregate principal amount outstanding at any one time not to exceed $50.0 million; 

(21) Indebtedness Incurred by the Company or any Restricted Subsidiary arising from the factoring or securitizing of accounts
receivable in the ordinary course of business in an aggregate principal amount outstanding at any one time not to exceed the greater of (x) $75.0 million or (y) 20.0% of the Consolidated EBITDA of the Company for the most recently ended four
consecutive fiscal quarters for which internal financial statements prepared on a consolidated basis are available; 
 (22)
Indebtedness of the Company or any Restricted Subsidiary in an aggregate principal amount up to 100% of the net cash proceeds received by the Company after the Issue Date from the issue or sale of Capital Stock of the Company or cash contributed to
the capital of the Company (in each case, other than proceeds of Disqualified Stock or sales of Capital Stock to the Company or any of its Subsidiaries); provided, however, that (i) any such net cash proceeds that are so received
or contributed shall not increase the amount available for making Restricted Payments pursuant to Section 4.07(a)(C)(ii) or (C)(iii) or Section 4.07(b)(1), (3) or (7) to the extent the Company and the Restricted Subsidiaries Incur
Indebtedness in reliance thereon and (ii) any net cash proceeds that are so received or contributed shall be excluded for purposes of Incurring Indebtedness pursuant to this clause to the extent such net cash proceeds or cash have been applied
to make Restricted Payments pursuant to Section 4.07(a)(C)(ii) or (C)(iii) or Section 4.07(b)(1), (3) or (7); 

  
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 (23) in addition to the items referred to in clauses (1) through (22)
of this Section 4.09(b), Indebtedness of the Company and its Restricted Subsidiaries in an aggregate outstanding principal amount which, when taken together with the principal amount of all other Indebtedness Incurred pursuant to this clause
(23) and then outstanding, will not exceed the greater of (x) $100.0 million and (y) 30.0% of the Consolidated EBITDA of the Company for the most recently ended four consecutive fiscal quarters for which internal financial statements
prepared on a consolidated basis are available, calculated on a Pro Forma Basis; and 
 (24) Indebtedness to the extent that
the net proceeds thereof are promptly deposited to defease or to satisfy and discharge the Notes. 
 The Company shall not Incur any
Indebtedness under this Section 4.09(b) if the proceeds thereof are used, directly or indirectly, to refinance any Subordinated Obligations of the Company unless such Indebtedness will be subordinated to the Notes to at least the same extent as
such Subordinated Obligations. No Subsidiary Guarantor will Incur any Indebtedness under Section 4.09(b) if the proceeds thereof are used, directly or indirectly, to refinance any Guarantor Subordinated Obligations of such Subsidiary Guarantor
unless such Indebtedness shall be subordinated to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee to at least the same extent as such Guarantor Subordinated Obligations. No
Non-Guarantor Subsidiary may Incur any Indebtedness if the proceeds are used to refinance Indebtedness of the Company or a Subsidiary Guarantor. 

(c) For purposes of determining compliance with this Section 4.09: 

(1) in the event that an item of Indebtedness (or any portion thereof) meets the criteria of more than one of the categories of
Permitted Debt or is entitled to be Incurred or issued as Ratio Debt, the Company, in its sole discretion, will divide, classify or reclassify such item of Indebtedness (or any portion thereof) on the date of Incurrence, and may at any later time
and from time to time divide, classify or reclassify such item of Indebtedness (or any portion thereof) in any manner that complies with this Section 4.09; provided that all Indebtedness outstanding on the Issue Date under the Senior
Credit Facility shall be deemed Incurred on the Issue Date under clause (1) of Section 4.09(b) and not as Ratio Debt or under clause (3) of Section 4.09(b) and may not later be reclassified; provided, further,
that all ECA Indebtedness outstanding on the Issue Date shall be deemed Incurred on the Issue Date under clause (5) of Section 4.09(b) and not as Ratio Debt or under clause (3) of Section 4.09(b), except that the Company may
at any later time and from time to time divide, classify or reclassify such ECA Indebtedness (or any portion thereof) under any of clauses (1), (4) or (5) of Section 4.09(b) (but that such ECA Indebtedness may not otherwise later be
reclassified); 
 (2) guarantees of, or obligations in respect of letters of credit relating to, Indebtedness that are
otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of such amount of Indebtedness; provided that the Incurrence of the Indebtedness represented by such guarantee or letter
of credit, as the case may be, was in compliance with this covenant; 

  
 73 

 (3) the principal amount of any Disqualified Stock of the Company or a
Restricted Subsidiary, or Preferred Stock of a Non-Guarantor Subsidiary, will be deemed to be equal to the greater of the maximum mandatory redemption or repurchase price (not including, in either case, any
redemption or repurchase premium) or the liquidation preference thereof, exclusive of any accrued dividends; 
 (4) the
amount of Indebtedness issued at a price that is less than the principal amount thereof will be equal to the amount of the liability in respect thereof determined in accordance with GAAP; 

(5) accrual of interest, accrual of dividends, the accretion of accreted value, the accretion or amortization of original issue
discount, the payment of interest in the form of additional Indebtedness, the payment of dividends in the form of additional shares of Preferred Stock or Disqualified Stock of the same class, the accretion of liquidation preference and increases in
the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies will not be deemed to be an Incurrence of Indebtedness for purposes of this covenant; 

(6) the amount of any Indebtedness outstanding as of any date shall be (i) the accreted value thereof in the case of any
Indebtedness issued with original issue discount or the aggregate principal amount outstanding in the case of Indebtedness issued with interest payable in kind and (ii) the principal amount or liquidation preference thereof in the case of any
other Indebtedness; and 
 (7) the principal amount of any Indebtedness Incurred to refinance or replace other Indebtedness,
if Incurred in a different currency from the Indebtedness being refinanced or replaced, shall be calculated based on the currency exchange rate applicable to the currencies in which such Refinancing Indebtedness is denominated that is in effect on
the date of such refinancing. 
 Unsecured Indebtedness shall not be treated as subordinated or junior to Secured Indebtedness merely
because it is unsecured and Indebtedness shall not be treated as subordinated or junior to any other Indebtedness merely because it has a junior priority with respect to the same collateral. 

If at any time an Unrestricted Subsidiary becomes a Restricted Subsidiary, any Indebtedness of such Subsidiary shall be deemed to be Incurred
by a Restricted Subsidiary as of such date (and, if such Indebtedness is not permitted to be Incurred as of such date under this Section 4.09, the Company shall be in Default of this Section 4.09). 

For purposes of determining compliance with any U.S. dollar-denominated restriction on the Incurrence of Indebtedness, the U.S.
dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was Incurred, in the case of term Indebtedness, or first
committed or first Incurred (whichever yields the lower U.S. dollar-equivalent), in the case of revolving credit Indebtedness; provided that if such Indebtedness is Incurred to refinance other Indebtedness denominated in a foreign
currency, and such refinancing would cause the 

  
 74 

 
applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated
restriction shall be deemed not to have been exceeded so long as the principal amount of such Refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced (plus accrued and unpaid interest and the aggregate
amount of premiums (including tender premiums), underwriting discounts, defeasance costs and fees, discounts and expenses in connection therewith). 

Section 4.10. Limitation on Asset Sales. (a) The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, consummate any Asset Sale unless: 
 (1) the Company or any of its Restricted Subsidiaries, as the case may
be, receives consideration at least equal to the Fair Market Value (as determined at the time of contractually agreeing to such Asset Sale) of the Capital Stock, assets or property sold or otherwise disposed of pursuant to such Asset Sale; and 

(2) except in the case of a Permitted Asset Swap, at least 75.0% of the consideration from such Asset Sale received by the
Company or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents or Replacement Assets; provided, that the amount of: 

(A) any liabilities (as shown on the Company’s or such Restricted Subsidiary’s most recent balance sheet or in the
notes thereto for which internal financial statements are available immediately preceding such date or, if incurred or accrued subsequent to the date of such balance sheet, such liabilities that would have been reflected on the Company’s or
such Restricted Subsidiary’s balance sheet or in the notes thereto if such incurrence or accrual had taken place on or prior to the date of such balance sheet in the good faith determination of the Company) of the Company or any Restricted
Subsidiary (other than liabilities that are by their terms subordinated to the Notes) that are extinguished in connection with the transactions relating to such Asset Sale, or that are assumed by the transferee of any such assets, property or
Capital Stock, in each case, pursuant to an agreement that releases or indemnifies the Company or such Restricted Subsidiary, as the case may be, from further liability therefor; 

(B) any securities, notes or other obligations or other assets or property received by the Company or any Restricted Subsidiary
from such transferee that are converted by the Company or such Restricted Subsidiary into cash or Cash Equivalents, or by their terms are required to be satisfied for cash or Cash Equivalents (to the extent of the cash or Cash Equivalents received),
in each case within 180 days following the receipt thereof; and 
 (C) any Designated Noncash Consideration received by the
Company or any of its Restricted Subsidiaries in such Asset Sale having an aggregate Fair Market Value, taken together with all other Designated Noncash Consideration received pursuant to this subclause (C) that is at that time outstanding, not
to exceed the greater of (x) $100.0 million and (y) 5.0% of Total Assets, calculated 

  
 75 

 
at the time of the receipt of such Designated Noncash Consideration (with the Fair Market Value of each item of Designated Noncash Consideration being measured at the time received without giving
effect to subsequent changes in value); 
 shall each be deemed to be Cash Equivalents for the purposes of this clause (2). 

Notwithstanding the foregoing, the 75.0% limitation referred to in clause (2) of this Section 4.10(a) shall be deemed satisfied with
respect to any Asset Sale in which the cash, Cash Equivalents and Replacement Assets portion of the consideration received therefrom, determined in accordance with the foregoing provision on an after-tax
basis, if the proceeds before tax would have complied with the aforementioned 75.0% limitation. 
 (b) Within 365 days after the
Company’s or any Restricted Subsidiary’s receipt of the Net Cash Proceeds of any Asset Sale, the Company or a Restricted Subsidiary, at its option, may apply an amount equal to the Net Cash Proceeds from such Asset Sale (or any portion
thereof) as follows: 
 (1) to repay, prepay, defease, redeem, reduce, purchase or otherwise retire (and to correspondingly
reduce commitments with respect thereto in the case of revolving borrowings): (x) Indebtedness or other Obligations under the Senior Credit Facility or the Ex-Im Credit Facility, (y) Indebtedness of the
Company (other than any Disqualified Stock or Subordinated Obligations) that is secured by a Lien (other than Indebtedness owed to an Affiliate of the Company) or (z) Indebtedness of a Restricted Subsidiary (other than any Disqualified Stock or
Guarantor Subordinated Obligations) that is secured by a Lien (other than Indebtedness owed to the Company or an Affiliate of the Company); 

(2) in the case of an Asset Sale by a Restricted Subsidiary that is a Non-Guarantor
Subsidiary, to repay, prepay, defease, redeem, reduce, purchase or otherwise retire (and to correspondingly reduce commitments with respect thereto in the case of revolving borrowings) Indebtedness of such Restricted Subsidiary or any other
Restricted Subsidiary that is a Non-Guarantor Subsidiary; 
 (3) to repay, prepay,
defease, redeem, reduce, purchase or otherwise retire (and to correspondingly reduce commitments with respect thereto in the case of revolving borrowings) any other Indebtedness of the Company (other than any Disqualified Stock or Subordinated
Obligations) or Indebtedness of a Restricted Subsidiary (other than any Disqualified Stock or Guarantor Subordinated Obligations) (in each case other than Indebtedness owed to the Company or an Affiliate of the Company); provided that the
Company shall equally and ratably reduce obligations under the Notes as provided under Section 3.01, through open market purchases (to the extent such purchases are at or above 100.0% of the principal amount thereof) or by making an offer (in
accordance with the procedures set forth below for an Asset Sale Offer) to all Holders to purchase their Notes at 100.0% of the principal amount thereof, plus the amount of accrued but unpaid interest, if any, on the amount of Notes that would
otherwise be prepaid; 

  
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 (4) to make an investment in, purchase or otherwise acquire any one or more
businesses, assets (other than working capital assets), properties or capital expenditures, in each case used or useful in a Similar Business or to make payments (including without limitation prepayments and progress payments) in connection with
such investment, purchase or other acquisition; provided, that if such investment, purchase or acquisition is in the form of the acquisition of Capital Stock of a Person, such investment, purchase or acquisition results in such Person
becoming a Restricted Subsidiary; 
 (5) to make an investment in, purchase or otherwise acquire any one or more businesses,
assets (other than working capital assets) or properties that replace the businesses, assets and/or properties that are the subject to such Asset Sale; or 

(6) any combination of the foregoing, 

provided, that the Company and its Subsidiaries will be deemed to have complied with the provisions described in clause (4) or (5)
of this Section 4.10(b) if and to the extent that, within 365 days after the Company’s or any Restricted Subsidiary’s receipt of such Net Cash Proceeds, the Company or a Restricted Subsidiary, as applicable, has entered into and not
abandoned or rejected a binding agreement to make an investment, purchase or other acquisition in compliance with the provision described in clause (4) or (5) of this Section 4.10(b), and that investment, purchase or other acquisition is
thereafter completed within 180 days after the end of such 365-day period. 
 (c) Notwithstanding
the foregoing, to the extent that repatriation to the United States of any or all of the Net Cash Proceeds of any Asset Sales by a Foreign Subsidiary (x) is prohibited or delayed by applicable local law or (y) would have a material adverse
tax consequence (taking into account any foreign tax credit or other net benefit actually realized in connection with such repatriation that would not otherwise be realized), as determined by the Company in its sole discretion, the portion of such
Net Cash Proceeds so affected will not be required to be applied in compliance with this covenant, and such amounts may be retained by the applicable Foreign Subsidiary; provided that clause (x) of this paragraph shall apply to such
amounts so long, but only so long, as the applicable local law will not permit repatriation to the United States (the Company hereby agreeing to use commercially reasonable efforts to cause the applicable Foreign Subsidiary to take all actions
reasonably required by the applicable local law, applicable organizational impediments or other impediment to permit such repatriation), and if such repatriation of any of such affected Net Cash Proceeds is permitted under the applicable local law
and is not subject to clause (y) of this paragraph, then, such repatriation will be promptly effected and such repatriated Net Cash Proceeds will be applied (net of additional taxes payable or reserved against as a result thereof) in compliance
with this covenant. The time periods set forth in this covenant shall not start until such time as the Net Cash Proceeds may be repatriated (whether or not such repatriation actually occurs). 

(d) Pending the final application of any such Net Cash Proceeds, the Company and its Restricted Subsidiaries may temporarily reduce
Indebtedness (including under a revolving Debt Facility) or otherwise invest or utilize such Net Cash Proceeds in any manner not prohibited by this Indenture. Any amount of Net Cash Proceeds from any Asset Sale that is not applied or invested as
provided and within the time period set forth in Section 4.10(b) will be deemed to 

  
 77 

 
constitute “Excess Proceeds”; provided, that any amount of proceeds offered to Holders pursuant to clause (3) of Section 4.10(b) or pursuant to an Asset Sale
Offer made at any time after the Asset Sale shall be deemed to have been applied as required and shall not be deemed to be Excess Proceeds without regard to the extent to which such offer is accepted by the Holders. When the aggregate amount of
Excess Proceeds exceeds $50.0 million, the Company will be required to make an offer (“Asset Sale Offer”) to all Holders of Notes and, to the extent required by the terms of other Pari Passu Indebtedness, to all holders of
other Pari Passu Indebtedness outstanding with similar provisions requiring the Company (or the Subsidiary Guarantor, as applicable) to make an offer to purchase such Pari Passu Indebtedness with the proceeds from any Asset Sale, to purchase the
maximum principal amount of Notes and any such Pari Passu Indebtedness to which the Asset Sale Offer applies that may be purchased out of the Excess Proceeds, at an offer price in cash in an amount equal to 100.0% of the principal amount of the
Notes and Pari Passu Indebtedness plus accrued and unpaid interest to (but not including) the date of purchase (or such lesser price with respect to the Pari Passu Indebtedness, if any, as may be provided by the terms of such Indebtedness), in
accordance with the procedures set forth in this Indenture or the agreements governing the Pari Passu Indebtedness, as applicable. 
 (e) To
the extent that the aggregate amount of Notes and Pari Passu Indebtedness so properly tendered and not withdrawn pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Company may use any remaining Excess Proceeds (any such amount,
“Retained Declined Proceeds”) for any purpose not prohibited by this Indenture. If the aggregate principal amount of Notes surrendered by Holders thereof and other Pari Passu Indebtedness surrendered by Holders or lenders,
collectively, exceeds the amount of Excess Proceeds, selection of Notes for purchase will be made by the Company in accordance with Section 3.04(f). Upon completion of such Asset Sale Offer, the amount of Excess Proceeds shall be reset at zero.

 Section 4.11. Limitation on Affiliate Transactions. (a) The Company shall not, and shall not permit any of its
Restricted Subsidiaries to, directly or indirectly, enter into or conduct any transaction (including for the purchase, sale, lease or exchange of any property or the rendering of any service) with any Affiliate of the Company involving aggregate
consideration in excess of $40.0 million (an “Affiliate Transaction”) unless: 

(1) the terms of such Affiliate Transaction are not materially less favorable to the Company or such Restricted Subsidiary, as
the case may be, when taken as a whole, than those that would have been obtained by the Company or such Restricted Subsidiary in a comparable transaction at the time of such transaction on an arm’s-length
basis with a Person who is not an Affiliate (as determined in good faith by the Company); and 
 (2) in the event such
Affiliate Transaction involves an aggregate consideration in excess of $100.0 million, the terms of such transaction have been approved by a majority of the disinterested members of the Board of Directors of the Company and the Board of
Directors of the Company shall have determined in good faith that such Affiliate Transaction satisfies the criteria in clause (1) above. 

(b) Section 4.11(a) shall not apply to: 

  
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 (1) (i) any transaction between or among the Company and/or any of its
Restricted Subsidiaries (or an entity that becomes a Restricted Subsidiary as a result of such transaction); or (ii) guarantees issued by the Company or a Restricted Subsidiary for the benefit of the Company or a Restricted Subsidiary in
compliance with Section 4.09, as applicable; 
 (2) any Restricted Payments permitted by this Indenture or any Permitted
Investments; 
 (3) any employment, consulting, service or termination agreement, or indemnification arrangement, entered
into by the Company or a Restricted Subsidiary with a future, current or former director, officer, employee, manager, consultant or independent contractor of the Company or a Restricted Subsidiary (or any direct or indirect parent of the Company to
the extent such agreements or arrangements are in respect of services performed for the Company or any of its Restricted Subsidiaries); the payment of compensation or expense reimbursement to any future, current or former director, officer,
employee, manager, consultant or independent contractor of the Company or a Restricted Subsidiary (including amounts paid pursuant to any benefit plan or arrangement, any health, disability or similar insurance plan or any stock option, employee
stock purchase or similar plans); or any issuance of securities, or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment agreements and other compensation arrangements, options to purchase
Capital Stock of the Company, subscription agreements, restricted stock plans, restricted stock unit plans, long-term incentive plans, stock appreciation rights plans, participation plans or similar employee benefits plans and/or indemnity provided
on behalf of future, current or former directors, officers, employees, managers, consultants or independent contractors of the Company or a Restricted Subsidiary, in each case in the ordinary course of business or as otherwise approved by the Board
of Directors of the Company or any direct or indirect parent of the Company; 
 (4) payments, loans, advances or guarantees
(or cancellation of loans, advances or guarantees) to employees, officers, directors, managers, consultants or independent contractors for bona fide business purposes or in the ordinary course of business, in an aggregate amount not in excess of
$25.0 million outstanding at any time; 
 (5) any agreement or arrangement as in effect as of the Issue Date (as such
agreement or arrangement may be amended, modified, supplemented, extended, renewed or replaced from time to time, so long as any such amendment, modification, supplement, extension, renewal or replacement, when taken as a whole, is not materially
more disadvantageous to the Holders (as determined in good faith by the Company) than the terms of the original agreement or arrangement in effect on the Issue Date) or any transaction contemplated thereby; 

(6) any agreement between any Person and an Affiliate of such Person existing at the time such Person is acquired by or merged,
amalgamated or consolidated with or into the Company or a Restricted Subsidiary, as such agreement may be amended, modified, supplemented, extended or renewed from time to time; provided that such

  
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agreement was not entered into contemplation of such acquisition, merger or consolidation, and so long as any such amendment, modification, supplement, extension or renewal, when taken as a
whole, is not materially more disadvantageous to the Holders than the applicable agreement as in effect on the date of such acquisition, merger or consolidation (as determined in good faith by the Company); 

(7) transactions with customers, clients, suppliers, joint venture partners or purchasers or sellers of goods or services, in
each case in the ordinary course of business and otherwise in compliance with the terms of this Indenture, in each case which are fair to the Company and its Restricted Subsidiaries or are on terms that are not materially less favorable, when taken
as a whole, to the Company or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unaffiliated party (as determined in good faith by the
Company); 
 (8) any transaction with a Permitted Joint Venture or Unrestricted Subsidiary that is (i) in the ordinary
course of business or (ii) in the best interests of the Company and its Restricted Subsidiaries and does not affect the Company’s ability to make payments of principal or interest payments on the Notes when due (as determined in good faith
by the Company); 
 (9) any joint venture agreements, stockholders agreements, partnership agreements, LLC agreements and
other similar agreements with respect to any Permitted Joint Venture; 
 (10) any transaction with a Person (other than an
Unrestricted Subsidiary) that would constitute an Affiliate Transaction solely because the Company or a Restricted Subsidiary owns Capital Stock of or otherwise controls such Person; provided that no Affiliate of the Company or any of its
Subsidiaries (other than the Company or a Restricted Subsidiary) shall have a beneficial interest or otherwise participate in such Person; 

(11) transactions between the Company or any of its Restricted Subsidiaries and any Person that would constitute an Affiliate
Transaction solely because such Person is a director, or such Person has a director who is also a director, of the Company or any direct or indirect parent of the Company; provided, however, that such director abstains from voting as a
director of the Company or such direct or indirect parent of the Company, as the case may be, on any matter involving such other Person; 

(12) any issuance or sale of Capital Stock (other than Disqualified Stock) to Affiliates of the Company and the granting of
registration and other customary rights with respect thereto; 
 (13) transactions in which the Company or any Restricted
Subsidiary delivers to the Trustee a letter or opinion from an Independent Financial Advisor stating that such transaction is fair to the Company or such Restricted Subsidiary from a financial point of view or stating that the terms are not
materially less favorable, when taken as a whole, 

  
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than those that might reasonably have been obtained by the Company or such Restricted Subsidiary in a comparable transaction at such time on an arms-length basis from a Person that is not an
Affiliate; and 
 (14) intercompany transactions undertaken in good faith for the purpose of improving the consolidated tax
efficiency of the Company and the Restricted Subsidiaries and not for the purpose of circumventing any covenant set forth in this Indenture. 

Section 4.12. Limitation on Liens. (a) The Company shall not, and shall not permit any of its Subsidiary Guarantors
to, directly or indirectly, create or incur any Lien securing Indebtedness (other than Permitted Liens) upon any asset or property of the Company or a Subsidiary Guarantor or proceeds thereof, unless: 

(1) in the case of Liens securing Subordinated Obligations or Guarantor Subordinated Obligations, to the extent the Notes and
any Subsidiary Guarantees are secured by a Lien on such assets or property and the proceeds thereof that is senior in priority to such Liens; or 

(2) in all other cases, to the extent the Notes and any Subsidiary Guarantee are secured by a Lien on such assets or property
and the proceeds thereof equally and ratably with or prior to such Liens. 
 (b) Any Lien that is granted to secure the Notes and any
Subsidiary Guarantee pursuant to this Section 4.12 shall be automatically and unconditionally released and discharged at the same time as the release and discharge of the Lien that gave rise to the obligation to secure the Notes or the
Subsidiary Guarantee under Section 4.12(a). 
 For purposes of determining compliance with this Section 4.12, (x) a Lien securing an item of
Indebtedness need not be permitted solely by reference to one category (or portion thereof) of Permitted Liens described in the definition thereof, but may be permitted in part under any combination thereof and (y) in the event that a Lien
securing an item of Indebtedness (or any portion thereof) meets the criteria of one or more of the categories of Permitted Liens described in the definition thereof, the Company shall, in its sole discretion, be entitled to divide, classify or
reclassify, or later divide, classify, or reclassify, in whole or in part, any such Lien (or any portion thereof) in any manner. 
 The expansion of Liens
by virtue of accretion or amortization of original issue discount, the payment of dividends in the form of Indebtedness, the payment of dividends on Preferred Stock in the form of additional shares of Preferred Stock of the same class accretion of
original issue discount or liquidation preference, increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property securing Indebtedness, will not be
deemed to be an incurrence of Liens for purposes of this Section 4.12. 
 Section 4.13. Existence. The Company shall
do or cause to be done all things necessary to preserve and keep in full force and effect its existence and the existence of each of its Restricted Subsidiaries in accordance with their respective organizational documents (as the same may be amended
from time to time), and the material rights (charter and statutory), licenses 

  
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and franchises of the Company and its Restricted Subsidiaries, provided that the Company is not required to preserve any such right, license or franchise, or the existence of any
Restricted Subsidiary, in each case if the Company in good faith shall determine that the maintenance or preservation thereof is no longer desirable in the conduct of the business of the Company and its Restricted Subsidiaries taken as a whole; and
provided further that this Section does not prohibit any transaction otherwise permitted by Section 4.07 or Article 5. 

Section 4.14. Offer to Repurchase Upon a Change of Control. 

(a) Upon the occurrence of a Change of Control Triggering Event, unless the Company has previously or concurrently exercised its right to
redeem all of the Notes pursuant to Section 3.01, each Holder shall have the right to require the Company to repurchase all or any part of such Holder’s Notes at a purchase price in cash equal to 101.0% of the aggregate principal amount of
the Notes repurchased plus accrued and unpaid interest, if any, to the date of purchase (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on an Interest Payment Date falling on or prior to the
date of purchase). 
 (b) Prior to or within 30 days following any Change of Control Triggering Event, unless the Company has previously or
concurrently exercised its right to redeem all of the Notes pursuant to Section 3.01, the Company shall deliver a notice (the “Change of Control Offer”) to each Holder or otherwise give notice in accordance with
the Applicable Procedures of the Depositary, with a copy to the Trustee, stating: 
 (1) that a Change of Control Triggering
Event has occurred or, if the Change of Control Offer is being made in advance of a Change of Control Triggering Event, that a Change of Control Triggering Event is expected to occur, and that such Holder has, or upon such occurrence will have, the
right to require the Company to purchase such Holder’s Notes at a purchase price in cash equal to 101.0% of the principal amount of such Notes plus accrued and unpaid interest, if any, to the date of purchase (subject to the right of Holders of
record on a Regular Record Date to receive interest on the relevant Interest Payment Date) (the “Change of Control Payment”); 

(2) the repurchase date (which shall be no earlier than ten days nor later than 60 days from the date such notice is delivered)
(the “Change of Control Payment Date”); 
 (3) if such notice is delivered prior to the
occurrence of a Change of Control or Change of Control Triggering Event, that the Change of Control Offer is conditional on the occurrence of a Change of Control Triggering Event; and 

(4) the procedures determined by the Company, consistent with this Indenture, that a Holder must follow in order to have its
Notes repurchased. 
 On the Change of Control Payment Date, the Company shall, to the extent lawful: 

(1) accept for payment all Notes or portions of Notes properly tendered and not withdrawn pursuant to the Change of Control
Offer; 

  
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 (2) deposit with the applicable Paying Agent an amount equal to the Change
of Control Payment in respect of all Notes or portions of Notes properly tendered and not withdrawn; and 
 (3) deliver or
cause to be delivered to the Trustee for cancellation the Notes so accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company in accordance with the terms
of this covenant. 
 The applicable Paying Agent shall promptly deliver to each Holder of Notes properly tendered and not withdrawn the
Change of Control Payment for such Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any,
in accordance with Section 3.04(e). 
 (c) Prior to making a Change of Control Payment, and as a condition to such payment (1) the
requisite holders of each issue of Indebtedness issued under an indenture or other agreement that may be violated by such payment shall have consented to such Change of Control Payment being made and waived the event of default, if any, caused by
the Change of Control or (2) the Company will repay all outstanding Indebtedness issued under an indenture or other agreement that may be violated by a Change of Control Payment or the Company must offer to repay all such Indebtedness, and make
payment to the holders of such Indebtedness that accept such offer and obtain waivers of any event of default arising under the relevant indenture or other agreement from the remaining holders of such Indebtedness. The Company covenants to effect
such repayment or obtain such consent prior to making a Change of Control Payment, it being a Default of this Section 4.14 if the Company fails to comply with this Section 4.14(c). 

(d) If the Change of Control Payment Date is on or after a Regular Record Date and on or before the related Interest Payment Date, any accrued
and unpaid interest, if any, shall be paid on the relevant Interest Payment Date to the Person in whose name a Note is registered at the close of business on such Regular Record Date. 

(e) The Company shall not be required to make a Change of Control Offer upon a Change of Control Triggering Event if a third party makes the
Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Company and purchases all Notes properly tendered and not withdrawn
under such Change of Control Offer. 
 (f) The Company or a third party may, at its option, redeem the Notes upon not less than ten nor more
than 60 days’ notice, given not more than 30 days following the consummation of the Change of Control Offer, at a redemption price of 101.0% of the aggregate principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, to
the applicable redemption date (subject to the right of holders of record on the relevant record date to receive interest due on an interest payment date falling on or prior to such redemption date), in connection with the consummation of a Change
of Control if at least 90.0% of the Notes outstanding prior to the Change of Control Payment Date are purchased pursuant to a Change of Control Offer with respect to such Change of Control. 

  
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 (g) Notwithstanding anything to the contrary herein, a Change of Control Offer may be made
in advance of a Change of Control Triggering Event, conditional upon such Change of Control Triggering Event. 
 Section 4.15.
Future Subsidiary Guarantors. 
 (a) The Company shall cause any domestic Restricted Subsidiary that borrows under or Guarantees the
Senior Credit Facility after the Issue Date to execute and deliver to the Trustee a supplemental indenture to this Indenture, the form of which is attached as Exhibit B hereto, pursuant to which such Restricted Subsidiary will irrevocably and
unconditionally Guarantee, on a joint and several basis, the full and prompt payment of the principal of, premium, if any, and interest in respect of the Notes on a senior basis and all other obligations under this Indenture. 

(b) Notwithstanding the foregoing, each Subsidiary Guarantee shall provide by its terms that it shall be automatically and unconditionally
released or discharged under the circumstances described in Section 10.06. 
 Section 4.16. Maintenance of Insurance.
(a) The Company shall deliver an Officers’ Certificate to the Trustee within 120 days after the end of each fiscal year certifying that, subject to Section 4.16(c), the Company and each of its Restricted Subsidiaries has obtained
and has in full force and effect: 
 (1) with respect to each Covered Satellite for which the risk of loss passes to the
Company or such Restricted Subsidiary at or before launch, launch insurance with respect to each such Covered Satellite covering the launch of such Covered Satellite and a period of time thereafter in an amount not less than the aggregate of the
purchase price of such Covered Satellite, the purchase price of launch services therefor (other than for risks borne by the relevant satellite manufacturer or by the relevant launch services provider pursuant to any launch risk guarantee) and the
premium payable for such insurance; provided that such launch insurance is available for a price, in an amount and on other terms and conditions that are, in the reasonable determination of the Company, commercially reasonable; and

 (2) at all times subsequent to the later of (x) initial completion of
in-orbit testing and (y) the coverage period of launch insurance described in clause (1) above, In-Orbit Insurance with respect to Covered Satellites other
than Excluded Satellites in an amount not less than the Aggregate In-Orbit Insurance Amount (with the allocation of such insurance among such Covered Satellites being in the Company’s discretion). 

(b) Insurance policies required by Section 4.16(a), shall: 

(1) contain no exclusions other than: 

(A) Acceptable Exclusions, and 

(B) such specific exclusions applicable to the performance of the Covered Satellite being insured as are reasonably acceptable
to the Company in 

  
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order to obtain insurance for a price that is, and on other terms and conditions that are, commercially reasonable; and 

(2) provide coverage on an all-risks basis for loss of and damage to the Covered
Satellite, subject to the exclusions specified above. 
 The insurance required by this Section 4.16 shall name the Company and/or one
or more Restricted Subsidiaries as named insureds. 
 (c) For any Covered Satellite, in lieu of
In-Orbit Insurance, the Company may, at its option, maintain In-Orbit Spare Capacity in which event such Covered Satellite (or portion, as applicable) shall be deemed to
be insured for the percentage of the Covered Satellite’s (or applicable portion’s) net book value for which In-Orbit Spare Capacity is available. In the event of any loss, damage or failure affecting
a Covered Satellite or the expiration and non-renewal of an insurance policy for a Covered Satellite resulting from a claim of loss under such policy that causes a failure to comply with clause (2) of
Section 4.16(b), the Company and its Restricted Subsidiaries shall be deemed to be in compliance with clause (2) of Section 4.16(b) for the 120 days immediately following such loss, damage or failure or policy expiration or non-renewal, provided that the Company or a Restricted Subsidiary, as the case may be, procures such In-Orbit Insurance or provides such
In-Orbit Spare Capacity as necessary to comply with clause (2) of Section 4.16(a) within such 120 day period. 

Section 4.17. Designation of Restricted and Unrestricted Subsidiaries(a) . (a) The Board of Directors of the Company or any
direct or indirect parent of the Company may designate any Subsidiary of the Company (including any existing Subsidiary and any newly acquired or newly formed Subsidiary or a Person becoming a Subsidiary through merger, amalgamation or consolidation
or Investment therein) to be an Unrestricted Subsidiary only if: 
 (1) such Subsidiary or any of its Subsidiaries has not
Guaranteed any Capital Stock or Indebtedness of and does not own any Capital Stock in, the Company or any Restricted Subsidiary and does not hold any Liens on any property or assets of the Company or any Restricted Subsidiary (other than a
Subsidiary of the Subsidiary to be so designated); 
 (2) all the Indebtedness of such Subsidiary and its Subsidiaries shall,
at the date of designation, and will for so long as it is an Unrestricted Subsidiary, consist of Non-Recourse Debt; 

(3) the aggregate Fair Market Value of all outstanding Investments of the Company and its Restricted Subsidiaries in such
Subsidiary complies with Section 4.07 or constitutes a Permitted Investment; and 
 (4) except as permitted under
Section 4.11, on the date such Subsidiary is designated an Unrestricted Subsidiary, such Subsidiary is not a party to any agreement, contract, arrangement or understanding with the Company or any Restricted Subsidiary with terms substantially
less favorable to the Company or such Restricted Subsidiary, when taken as a whole, than those that would have been obtained from Persons who are not Affiliates of the Company. 

  
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 Any such designation by the Board of Directors of the Company or any direct or indirect parent of the
Company after the Issue Date shall be evidenced to the Trustee by filing with the Trustee a resolution of the Board of Directors of the Company or any direct or indirect parent of the Company giving effect to such designation and an Officers’
Certificate certifying that such designation complies with the foregoing conditions. If, at any time, any Unrestricted Subsidiary would fail to meet the foregoing requirements as an Unrestricted Subsidiary, it shall thereafter cease to be an
Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary shall be deemed to be Incurred as of such date. 

(b) The Board of Directors of the Company may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that
immediately after giving effect to such designation, no Event of Default shall have occurred and be continuing or would occur as a consequence thereof and either (i) the Company would be permitted to Incur at least $1.00 of additional
Indebtedness as Ratio Debt after giving effect to such designation or (ii) the Consolidated Coverage Ratio of the Company after giving effect to such designation would be equal to or greater than such ratio immediately prior to such
designation. 
 Section 4.18. Suspension of Certain Covenants. (a) Following the first day (the “Suspension
Date”) that: 
 (1) the Notes have an Investment Grade Rating from two of the Rating Agencies; and 

(2) no Default has occurred and is continuing hereunder, 

the Subsidiary Guarantees will be automatically and unconditionally released and discharged and the Company and its Restricted Subsidiaries shall not be
subject to the covenants in Sections Section 4.074.07, 4.08, 4.09, 4.10, 4.11, 4.15 and 4.16 and clause (4) of Section 5.01(a) (collectively, the “Suspended Covenants”). If at any time following a Suspension Date the
Notes’ credit rating is downgraded from an Investment Grade Rating by any Rating Agency such that the Notes do not have an Investment Grade Rating by any two Rating Agencies, then the Suspended Covenants will thereafter be reinstated (such
date, the “Reinstatement Date”) and be applicable pursuant to the terms of this Indenture with respect to future events, unless and until a subsequent Suspension Date occurs (in which event the Suspended Covenants shall no longer be
in effect until a subsequent Reinstatement Date occurs). The period of time between Suspension Date and the Reinstatement Date is referred to as the “Suspension Period.” 

(b) Notwithstanding the reinstatement of the Suspended Covenants upon a Reinstatement Date, no Default, Event of Default or breach of any kind
shall be deemed to have occurred or exist under this Indenture, the Notes or the Subsidiary Guarantees with respect to the Suspended Covenants based on, and none of the Company or any of its Subsidiaries shall bear any liability for, any actions
taken or events occurring during the Suspension Period, or any actions taken at any time pursuant to any contractual obligation arising prior to the Reinstatement Date, regardless of whether such actions or events would have been permitted if the
applicable Suspended Covenants remained in effect during such period. The Company and its Subsidiaries shall be permitted, without causing a Default or Event of Default or breach of any of the Suspended Covenants (notwithstanding the reinstatement
thereof) under this Indenture, to honor, 

  
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comply with or otherwise perform any contractual commitments or obligations entered into during a Suspension Period following a Reinstatement Date and to consummate the transactions contemplated
thereby; provided that, to the extent any such commitment or obligation results in the making of a Restricted Payment, such Restricted Payment shall be made under clause (C) of Section 4.07(a) or under Section 4.07(b) and, if
not permitted by any of such provisions, such Restricted Payment shall be deemed permitted under clause (C) of Section 4.07(a) and shall be deducted for purposes of calculating the amount pursuant to such clause (C) (so that the amount
available under such clause (C) immediately following such Restricted Payment shall be negative). 
 (c) On each Reinstatement Date,
all Indebtedness Incurred during the applicable Suspension Period will be classified to have been Incurred pursuant to clause (3) of Section 4.09(b). Calculations made after each Reinstatement Date of the amount available to be made as
Restricted Payments under Section 4.07 will be made as though Section 4.07 had been in effect prior to, but not during, the Suspension Period. Upon the Suspension Date, the amount of Excess Proceeds from Asset Sales shall be reset at zero.
In addition, for purposes of Section 4.11, all transactions entered into by the Company or any Restricted Subsidiary with an Affiliate of the Company during the Suspension Period shall be deemed to have been entered into pursuant to clause
(5) of Section 4.11(b), and for purposes of Section 4.08, all agreements and instruments entered into during the Suspension Period that contain any of the restrictions contemplated by such covenant shall be deemed to have been entered
into pursuant to clause (1) of Section 4.08(b). 
 (d) In addition, during the Suspension Period, any Subsidiary Guarantees will
be automatically released and the obligation to grant further Subsidiary Guarantees will be suspended. Upon the Reinstatement Date, the obligation to grant Subsidiary Guarantees pursuant to Section 4.15 will be reinstated (and the Reinstatement
Date will be deemed to be the date on which any Indebtedness under the Senior Credit Facility was guaranteed or Incurred, as applicable, for purposes of Section 4.15). 

(e) During any period when the Suspended Covenants are suspended, the Board of Directors of the Company may not designate any of the
Company’s Subsidiaries as Unrestricted Subsidiaries pursuant to this Indenture. 
 (f) The Company shall provide written notice to the
Trustee of the occurrence of any Suspension Date or Reinstatement Date. The Trustee shall have no obligation to (i) independently determine or verify if such events have occurred, (ii) make any determination regarding the impact of actions
taken during the Suspension Period on future compliance by the Company and the Restricted Subsidiaries with their covenants or (iii) notify the holders of the occurrence of any action that results in a Suspension Date or Reinstatement Date.

 ARTICLE 5 

MERGER AND CONSOLIDATION 

Section 5.01. Merger and Consolidation. (a) The Company shall not consolidate with or merge with or into or wind up into
(whether or not the Company is the surviving corporation), or sell, assign, convey, transfer or otherwise dispose of all or substantially all of the assets and 

  
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properties of the Company and its Restricted Subsidiaries, taken as a whole, in one or more related transactions, to any Person unless: 

(1) the resulting, surviving or transferee Person (the “Successor Company”) is the Company or
will be a corporation, limited liability company, partnership, limited partnership or trust organized and existing under the laws of the United States of America, any State of the United States, the District of Columbia or any territory of the
United States; provided that if such Person is not a corporation, such Person will immediately cause a Subsidiary that is organized and existing under the laws of the United States of America, any State of the United States, the
District of Columbia or any territory of the United States and that is a corporation to be added as a co-issuer of the Notes under this Indenture; 

(2) the Successor Company (if other than the Company) assumes all of the obligations of the Company under the Notes and this
Indenture pursuant to a supplemental indenture; 
 (3) immediately after giving effect to such transaction, no Default or
Event of Default shall have occurred and be continuing; 
 (4) immediately after giving pro forma effect to such
transaction and any related financing transactions, as if such transactions had occurred at the beginning of the applicable four-fiscal-quarter period, either: 

(A) the Successor Company would be able to Incur at least $1.00 of additional Indebtedness as Ratio Debt, or 

(B) the Consolidated Coverage Ratio for the Successor Company would be equal to or greater than such ratio for the Company
immediately prior to such transaction; and 
 (5) each Subsidiary Guarantor (unless it is the other party to the transactions
above, in which case clause (1) shall apply) shall have confirmed in writing to the Trustee that its Subsidiary Guarantee shall apply to such Person’s obligations in respect of this Indenture and the Notes. 

Notwithstanding the preceding clauses (3) and (4), 

(1) any Restricted Subsidiary may consolidate with, merge with or into or sell, assign, convey, transfer or otherwise dispose
of all or part of its assets and properties to the Company so long as no Capital Stock of the Restricted Subsidiary is distributed to any Person other than the Company, and 

(2) the Company may merge with an Affiliate of the Company solely for the purpose of reincorporating the Company in another
jurisdiction. 
 (b) Subject to the provisions in this Indenture governing release of a Subsidiary Guarantee upon the sale or disposition of
a Restricted Subsidiary that is a Subsidiary Guarantor, 

  
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the Company shall not permit any Subsidiary Guarantor to consolidate with or merge with or into or wind up into (whether or not the Subsidiary Guarantor is the surviving corporation), or sell,
assign, convey, transfer or otherwise dispose of all or substantially all of its assets and properties to, any Person (other than to the Company or another Subsidiary Guarantor) unless: 

(1) if such entity remains a Subsidiary Guarantor, (a) the resulting, surviving or transferee Person (the
“Successor Guarantor”) will be a corporation, limited liability company, partnership, limited partnership or trust organized and existing under the laws of the United States of America, any State of the United States,
the District of Columbia or any other territory thereof; (b) the Successor Guarantor, if other than such Subsidiary Guarantor or another Subsidiary Guarantor, expressly assumes all of the obligations of such Subsidiary Guarantor under the Notes
and this Indenture pursuant to a supplemental indenture or other customary documents or instruments; (c) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing; and (d) if
the Successor Guarantor is other than such Subsidiary Guarantor or another Subsidiary Guarantor, the Company will have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or
transfer and such supplemental indenture comply with this Indenture; and 
 (2) the transaction is made in compliance with
Section 4.10 to the extent applicable (it being understood that only such portion of the Net Cash Proceeds as is required to be applied on the date of such transaction in accordance with the terms of this Indenture needs to be applied in
accordance therewith at such time) and this Section 5.01. 
 (c) In addition, the Company shall not, directly or indirectly, lease, or
permit any Subsidiary Guarantor to lease, all or substantially all of the properties of it and its Restricted Subsidiaries, taken as a whole, in one or more related transactions, to any other Person. 

(d) Notwithstanding the foregoing, any Subsidiary Guarantor may (x) merge with or into or transfer all or part of its assets and
properties to another Subsidiary Guarantor or the Company, or (y) merge with a Restricted Subsidiary of the Company solely for the purpose of reincorporating the Subsidiary Guarantor in a State of the United States or the District of Columbia,
as long as the amount of Indebtedness of such Subsidiary Guarantor and its Restricted Subsidiaries is not increased thereby, and the resulting entity remains or becomes a Subsidiary Guarantor. 

(e) For purposes of this Section 5.01, the sale, assignment, conveyance, transfer, lease or other disposition of all or substantially all
of the assets and properties of one or more Subsidiaries of the Company, which assets and properties, if held by the Company instead of such Subsidiaries, would constitute all or substantially all of the assets and properties of the Company on a
consolidated basis, shall be deemed to be the disposition of all or substantially all of the assets and properties of the Company. 

Section 5.02. Successor Entity Substituted. 

Upon any consolidation or merger, or any sale, assignment, transfer, conveyance or other disposition of all or substantially all of the assets
and properties of the Company in accordance 

  
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with Section 5.01 hereof, the Company shall be released from its obligations under this Indenture, and the Successor Company shall succeed to, and be substituted for (so that from and after
the date of such consolidation, merger, sale, conveyance or other disposition, the provisions of this Indenture referring to the Company shall refer instead to the Successor Company and not to the Company), and may exercise every right and power of,
the Company under this Indenture and the Notes. Subject to the limitations described in this Indenture, the Successor Guarantor will succeed to, and be substituted for, such Subsidiary Guarantor under this Indenture and the Subsidiary Guarantee of
such Subsidiary Guarantor. 
 ARTICLE 6 

DEFAULTS AND REMEDIES 

Section 6.01. Events of Default.

(a) An “Event of Default” means any one of the following events (whatever the reason for such Event of Default and whether it
shall be voluntary or involuntary): 
 (1) default in any payment of interest on any Note when due, continued for 30 days;

 (2) default in the payment of principal of or premium, if any, on any Note when due at its Stated Maturity, upon optional
redemption, upon required repurchase, upon acceleration or otherwise; 
 (3) failure by the Company to comply with its
obligations under Section 5.01 (other than its obligations under clause (5) of Section 5.01(a)) or the failure by any Subsidiary Guarantor to comply with its obligations under clauses (1)(b), (1)(c), (1)(d) and (2) of
Section 5.01(b) in each case continued for 30 days; 
 (4) failure by the Company or any Restricted Subsidiary to comply
for 60 days after receipt of written notice as provided below with any of its obligations, covenants and agreements contained in this Indenture (other than a Default referred to in clause (1), (2) or (3) above); provided, that in the
case of a failure to comply with Section 4.03 such period of continuance of such default or breach shall be 120 days after receipt of written notice as provided below; 

(5) default by the Company or any Restricted Subsidiary under any mortgage, indenture or instrument under which there may be
issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is Guaranteed by the Company or any of its Restricted Subsidiaries), other than
Indebtedness owed to the Company or a Restricted Subsidiary, whether such Indebtedness or Guarantee now exists or is created after the Issue Date, which default: 

(A) is caused by a failure, after the expiration of the grace period provided in such Indebtedness, to pay principal of, or
interest or premium, if any, on such Indebtedness (“Payment Default”); or 

  
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 (B) results in the acceleration of such Indebtedness prior to its maturity;

 and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under
which there has been a Payment Default or the maturity of which has been so accelerated, exceeds $50.0 million; 
 (6)
an involuntary case or other proceeding is commenced against the Company or any Significant Subsidiary with respect to it or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect seeking the appointment of a
trustee, receiver, liquidator, custodian or other similar official of it or substantially all of its property, and such involuntary case or other proceeding remains undismissed and unstayed for a period of 60 consecutive days; or an order for relief
is entered against the Company or any Significant Subsidiary under the federal bankruptcy laws as now or hereafter in effect that remains undismissed and unstayed for a period of 60 consecutive days; 

(7) the Company or any of its Significant Subsidiaries (i) commences a voluntary case under any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect with respect to itself, or consents to the entry of an order for relief against it in an involuntary case under any such law, (ii) consents to the appointment of or taking possession by
a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Company or any of its Significant Subsidiaries or for all or substantially all of the property and assets of the Company or any of its Significant
Subsidiaries or (iii) effects any general assignment for the benefit of creditors; 
 (8) failure by the Company or any
Significant Subsidiary to pay final and non-appealable judgments aggregating in excess of $50.0 million (net of any amounts that are covered by insurance provided by a reputable and creditworthy insurance
company), which judgments are not paid, discharged, waived or stayed for a period of 60 consecutive days after such judgments become final; or 

(9) any Subsidiary Guarantee of a Significant Subsidiary ceases to be in full force and effect (except as contemplated by the
terms of this Indenture) or is declared null and void in a judicial proceeding or any Subsidiary Guarantor that is a Significant Subsidiary denies or disaffirms its obligations under this Indenture or its Subsidiary Guarantee. 

(b) However, a Default under clause (4) of Section 6.01(a) will not constitute an Event of Default until (1) the Trustee
provides written notice to the Company of the Default or the Holders of 25% in aggregate principal amount of the then-outstanding Notes provide written notice to the Company of the Default, with a copy to the Trustee, and (2) the Company does
not cure such Default within the applicable time specified in clause (4) of Section 6.01(a) after receipt of such notice. 

  
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 Section 6.02. Acceleration. (a) If an Event of Default (other than
an Event of Default described in clauses (6) or (7) of Section 6.01(a)) occurs and is continuing, the Trustee by notice in writing specifying the Event of Default and that it is a “notice” to the Company, or the Holders of at
least 25% in aggregate principal amount of the then-outstanding Notes by notice to the Company and the Trustee, may declare the principal of, premium, if any, and accrued and unpaid interest, if any, on all the Notes to be due and payable. Upon such
a declaration, such principal, premium, if any, and accrued and unpaid interest, if any, shall be due and payable immediately. 
 (b) In the
event of a declaration of acceleration of the Notes because an Event of Default described in clause (5) of Section 6.01(a) has occurred and is continuing, the declaration of acceleration of the Notes shall be automatically annulled if the
Default triggering such Event of Default pursuant to clause (5) of Section 6.01(a) shall be remedied or cured by the Company or a Restricted Subsidiary or waived by the holders of the relevant Indebtedness within 20 days after the
declaration of acceleration with respect thereto and if (1) the annulment of the acceleration of the Notes would not conflict with any judgment or decree of a court of competent jurisdiction and (2) all existing Events of Default, except
nonpayment of principal, premium, if any, or interest on the Notes that became due solely because of the acceleration of the Notes, have been cured or waived. 

(c) If an Event of Default described in clauses (6) or (7) of Section 6.01(a) occurs and is continuing, the principal of, premium,
if any, and accrued and unpaid interest on all the Notes shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. 

Section 6.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue, in its own name or
as trustee of an express trust, any available remedy by proceeding at law or in equity to collect the payment of principal of and interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture. The Trustee may
maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. 
 Section 6.04.
Waiver of Past Defaults. The Holders of a majority in aggregate principal amount of the then-outstanding Notes may, by written notice to the Trustee and on behalf of the Holders of all of the Notes, waive, rescind or cancel any
declaration of an existing or past Default or Event of Default and its consequences under this Indenture if such waiver, rescission or cancellation would not conflict with any judgment or decree of a court of competent jurisdiction, except a
continuing Default or Event of Default in the payment of interest on, or the principal of, the Notes (other than such nonpayment of principal or interest that has become due as a result of such acceleration). Upon any such waiver, rescission or
cancellation, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any
right consequent thereon. 
 Section 6.05. Control by Majority. Subject to Section 7.02(7), the Holders of a
majority in aggregate principal amount of the then-outstanding Notes may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any 

  
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trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or this Indenture or that the Trustee determines in good faith is unduly
prejudicial to the rights of any other Holder (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders) or that would involve the Trustee
in personal liability; provided, however that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any action under this Indenture, the Trustee shall be entitled to
indemnification from the Holders satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 

Section 6.06. Limitation on Suits. The Trustee will be under no obligation to exercise any of the rights or powers under
this Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee an indemnity or security satisfactory to the Trustee against any loss, liability or expense. Except to enforce the right to receive
payment of principal, premium, if any, or interest when due, no Holder may pursue any remedy with respect to this Indenture or the Notes unless: 

(1) such Holder has previously given the Trustee written notice that an Event of Default is continuing; 

(2) Holders of at least 25% in aggregate principal amount of the then-outstanding Notes have requested the Trustee, by notice
in writing, to pursue the remedy; 
 (3) such Holders have offered the Trustee security or indemnity satisfactory to it
against any loss, liability or expense; 
 (4) the Trustee has not complied with such request within 60 days after the
receipt of the request and the offer of security or indemnity; and 
 (5) the Holders of a majority in aggregate principal
amount of the then-outstanding Notes have not given the Trustee a direction that, in the opinion of the Trustee, is inconsistent with such request within such 60-day period. 

Section 6.07. Rights of Holders to Receive Payment. Notwithstanding anything to the contrary, the right of a Holder of a
Note to receive payment of principal of or interest on its Note on or after the Stated Maturity thereof, or to bring suit for the enforcement of any such payment on or after such respective dates, may not be impaired or affected without the consent
of that Holder. For the avoidance of doubt, no amendment to or deletion of any of the covenants described under Article 4 (other than Section 4.01) shall be deemed to impair or affect any rights of holders to receive payment of principal of,
premium, if any, and interest on such Holder’s Notes. 
 Section 6.08. Collection Suit by Trustee. If an Event of
Default in payment of principal or interest specified in clause (1) or (2) of Section 6.01(a) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust for the whole amount of principal
and accrued interest remaining unpaid, together with interest on overdue principal and, to the extent lawful, overdue installments of interest, in each case at the rate specified in the Notes, and such further amount as is sufficient to cover the
costs and expenses of collection, 

  
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including the compensation of the Trustee and reasonable expenses, disbursements and advances of the Trustee, its agents and counsel. 

Section 6.09. Trustee May File Proofs of Claim. The Trustee may file proofs of claim and other papers or documents as may
be necessary or advisable in order to have the claims of the Trustee (including any claim for the compensation of the Trustee or for reasonable expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in
any judicial proceedings relating to the Company or any Subsidiary Guarantor or their respective creditors or property, and is entitled and empowered to collect, receive and distribute any money, securities or other property payable or deliverable
upon conversion or exchange of the Notes or upon any such claims. Any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such
payments to the Trustee and, if the Trustee consents to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agent
and counsel, and any other amounts due the Trustee hereunder. Nothing in this Indenture will be deemed to empower the Trustee to authorize or consent to, or accept or adopt on behalf of any Holder, any plan of reorganization, arrangement, adjustment
or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

Section 6.10. Priorities. If the Trustee collects any money pursuant to this Article, it shall pay out the money in the
following order: 
 First: to the Trustee and the Agents for all amounts due hereunder; 

Second: to Holders for amounts then due and unpaid for principal of and interest on the Notes, ratably, without preference or
priority of any kind, according to the amounts due and payable on the Notes for principal and interest; and 
 Third: to the
Company or as a court of competent jurisdiction may direct. 
 The Trustee, upon written notice to the Company, may fix a record date and
payment date for any payment to Holders pursuant to this Section. 
 Section 6.11. Restoration of Rights and Remedies. If
the Trustee or any Holder has instituted a proceeding to enforce any right or remedy under this Indenture and the proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to the Holder, then,
subject to any determination in the proceeding, the Company, any Subsidiary Guarantors, the Trustee and the Holders will be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the
Company, any Subsidiary Guarantors, the Trustee and the Holders will continue as though no such proceeding had been instituted. 

Section 6.12. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any
suit against the Trustee for any action taken or omitted by it as Trustee, a court may require any party litigant in such suit (other than the Trustee) to file an undertaking to pay the costs of the suit, and the court may assess reasonable costs,
including 

  
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reasonable attorneys fees, against any party litigant (other than the Trustee) in the suit having due regard to the merits and good faith of the claims or defenses made by the party litigant.
This Section 6.12 does not apply to a suit by a Holder to enforce payment of principal of or interest on any Note on the respective due dates, or a suit by Holders of more than 10% in aggregate principal amount of the then-outstanding Notes.

 Section 6.13. Rights and Remedies Cumulative. No right or remedy conferred or reserved to the Trustee or to the
Holders under this Indenture is intended to be exclusive of any other right or remedy, and all such rights and remedies are, to the extent permitted by law, cumulative and in addition to every other right and remedy hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or exercise of any right or remedy hereunder, or otherwise, will not prevent the concurrent assertion or exercise of any other right or remedy. 

Section 6.14. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder to exercise any right or
remedy accruing upon any Event of Default will impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders
may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 ARTICLE
7 
 THE TRUSTEE 

Section 7.01. General. (a) The duties and responsibilities of the Trustee are as provided by the Trust Indenture Act
and as set forth herein. Whether or not expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee is subject to this Article. 

(b) Except during the continuance of an Event of Default, the Trustee need perform only those duties that are specifically set forth in this
Indenture and no others, and no implied covenants or obligations will be read into this Indenture against the Trustee. In the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which 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 (but need not confirm or investigate the accuracy of mathematical
calculations or other facts stated therein). 
 (c) In case an Event of Default has occurred and is continuing, the Trustee shall exercise
those rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 

  
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 (d) 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: 
 (1) this
Subsection shall not be construed to limit the effect of Section 7.01(b); 
 (2) the Trustee shall not be liable for any
error of judgement made in good faith by a Trust Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 

(3) 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 a majority in principal amount of the outstanding Notes of any series; and 
 (4) no
provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers. 

Section 7.02. Certain Rights of Trustee. Subject to Trust Indenture Act Sections 315(a) through (d): 

(1) In the absence of bad faith on its part, the Trustee may rely, and will be protected in acting or refraining from acting,
upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been
signed or presented by the proper Person. The Trustee, in its discretion, may make further inquiry or investigation into such facts or matters as it sees fit. 

(2) Before the Trustee acts or refrains from acting (except (x) as provided in Sections 2.04, 3.03(e) and 3.04(e) and
(y) with respect to an Opinion of Counsel, in connection with the original issuance of any Notes or the execution of any amendment or supplement entered into in connection with adding any Subsidiary Guarantor under this Indenture), it may
require an Officers’ Certificate or an Opinion of Counsel or both conforming to Section 12.03 and the Trustee will not be liable for any action it takes or omits to take in good faith in reliance on the certificate or opinion. 

(3) The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any
agent appointed with due care. 
 (4) The Trustee will be under no obligation to exercise any of the rights or powers vested
in it by this Indenture at the request or direction of any of the Holders, unless such Holders have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that might be incurred by it in compliance with
such request or direction. 

  
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 (5) The Trustee will not be liable for any action it takes or omits to take
in good faith that it believes to be authorized or within its rights or powers or for any action it takes or omits to take in accordance with the direction of the Holders in accordance with Section 6.05 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. 

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

(7) The Trustee shall not be bound to make any investigation into the facts or matters stated in any document, but the Trustee,
in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and
premises of the Company, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

(8) In no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of
any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(9) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Trust Officer of the Trustee has
actual knowledge thereof or unless written notice of any event which is in fact such a Default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture. 

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

(11) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties
hereunder. 
 (12) The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as a
duty to Holders and, with respect to such permissive rights, the Trustee shall not be answerable to any Holder other than for its gross negligence or willful misconduct. 

Section 7.03. Individual Rights of Trustee. The Trustee, in its individual or any other capacity, may become the owner or
pledgee of Notes and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not the Trustee. Any Agent may do 

  
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the same with like rights. However, the Trustee is subject to Trust Indenture Act Sections 310(b) and 311. For purposes of Trust Indenture Act Section 311(b)(4) and (6): 

(a) “cash transaction” means any transaction in which full payment for goods or securities sold is made within seven days
after delivery of the goods or securities in currency or in checks or other orders drawn upon banks or bankers and payable upon demand; and 

(b) “self-liquidating paper” means any draft, bill of exchange, acceptance or obligation which is made, drawn, negotiated or
incurred for the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing title to, possession of, or a lien upon, the goods, wares or
merchandise or the receivables or proceeds arising from the sale of the goods, wares or merchandise previously constituting the security, provided the security is received by the Trustee simultaneously with the creation of the creditor relationship
arising from the making, drawing, negotiating or incurring of the draft, bill of exchange, acceptance or obligation. 
 Section 7.04.
Trustee’s Disclaimer. The Trustee (i) makes no representation as to the validity or adequacy of this Indenture or the Notes, (ii) is not accountable for the Company’s use or application of the proceeds
from the Notes and (iii) is not responsible for any statement in the Notes other than its certificate of authentication. 

Section 7.05. Notice of Default. If any Default occurs and is continuing and is actually known to a Responsible Officer of
the Trustee, the Trustee shall deliver to each Holder notice of the Default within 90 days after it occurs or within 30 days after a Responsible Officer of the Trustee has actual knowledge of the Default, whichever is later. Except in the case of a
Default in the payment of principal of, premium, if any, or interest on any Note, the Trustee may withhold notice if and so long as the Trustee in good faith determines that withholding notice is in the interests of the Holders. 

Section 7.06. Reports by Trustee to Holders. Within 60 days after each May 15, beginning with May 15, 2021, the
Trustee will mail to each Holder, as provided in Trust Indenture Act Section 313(c), a brief report dated as of such May 15, if required by Trust Indenture Act Section 313(a), and file such reports with each stock exchange (if any)
upon which its Notes are listed and with the SEC as required by Trust Indenture Act Section 313(d). 
 Section 7.07.
Compensation and Indemnity. (a) The Company will pay the Trustee compensation as agreed upon with the Trustee in writing between the Company and the Trustee for its services. The compensation of the Trustee is not limited by any
law on compensation of a Trustee of an express trust. The Company will reimburse the Trustee upon request for all reasonable out-of-pocket expenses, disbursements and
advances incurred or made by the Trustee, including the reasonable compensation and expenses of the Trustee’s agents and counsel. 

(b) The Company shall indemnify the Trustee for, and hold it harmless against, any loss or liability or expense incurred by it without willful
misconduct, negligence or bad faith on its part arising out of or in connection with the acceptance or administration of this Indenture and the performance of its duties under this Indenture and the Notes, including the costs and expenses enforcing
this Indenture (including this Section 7.07), of defending itself against any 

  
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claim whether asserted by any Holder or the Company, or liability and of complying with any process served upon it or any of its officers in connection with the acceptance, exercise or
performance of any of its powers or duties under this Indenture and the Notes. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company
of its obligations hereunder. The Company shall defend any such claim and the Trustee may have separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. Notwithstanding the foregoing, the Company shall not be
required to indemnify the Trustee with respect to any settlement made without the consent of the Company, which consent will not be unreasonably withheld. 

(c) To secure the Company’s payment obligations in this Section, the Trustee will have a lien prior to the Notes on all money or property
held or collected by the Trustee, in its capacity as Trustee, except money or property held in trust to pay principal of, and interest on particular Notes. 

(d) When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 6.01(a)(6) or
Section 6.01(a)(7), the expenses (including the reasonable charges and expenses of its counsel) are intended to constitute expenses of administration under any applicable Federal or state bankruptcy, insolvency or other similar law. 

(e) The provisions of this Article shall survive the termination of this Indenture 

Section 7.08. Replacement of Trustee. (a) (1) The Trustee may resign at any time by written notice to the Company.

 (2) The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by written notice to the
Trustee. 
 (3) If the Trustee is no longer eligible under Section 7.10 or in the circumstances described in Trust
Indenture Act Section 310(b), any Holder that satisfies the requirements of Trust Indenture Act Section 310(b) may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(4) The Company may remove the Trustee if: (i) the Trustee is no longer eligible under Section 7.10; (ii) the
Trustee is adjudged a bankrupt or an insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee becomes incapable of acting. 

(5) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the
successor Trustee’s acceptance of appointment as provided in this Section. 
 (b) If the Trustee has been removed by the Holders,
Holders of a majority in principal amount of the Notes may appoint a successor Trustee with the consent of the Company. Otherwise, if the Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Company will
promptly appoint a successor Trustee. If the successor Trustee 

  
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does not deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of a majority in principal amount of the
outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee at the Company’s expense. 

(c) Upon delivery by the successor Trustee of a written acceptance of its appointment to the retiring Trustee and to the Company, (i) the
retiring Trustee will transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07, (ii) the resignation or removal of the retiring Trustee will become effective, and (iii) the
successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. Upon request of any successor Trustee, the Company will execute any and all instruments for fully and vesting in and confirming to the successor
Trustee all such rights, powers and trusts. The Company will give notice of any resignation and any removal of the Trustee and each appointment of a successor Trustee to all Holders, and include in the notice the name of the successor Trustee and
the address of its Corporate Trust Office. 
 (d) Notwithstanding replacement of the Trustee pursuant to this Section, the Company’s
obligations under Section 7.07 will continue for the benefit of the retiring Trustee. 
 (e) The Trustee agrees to give the notices
provided for in, and otherwise comply with, Trust Indenture Act Section 310(b). 
 Section 7.09. Successor Trustee by
Merger. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation or national banking association, the resulting, surviving or transferee
corporation or national banking association without any further act will be the successor Trustee with the same effect as if the successor Trustee had been named as the Trustee in this Indenture. 

Section 7.10. Eligibility. This Indenture must always have a Trustee that satisfies the requirements of Trust Indenture Act
Section 310(a) and has a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition. 

Section 7.11. Money Held in Trust. The Trustee will not be liable for interest on any money received by it except as it may
agree with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law and except for money held in trust under Article 8. 

ARTICLE 8 
 LEGAL
DEFEASANCE AND COVENANT DISCHARGE 
 Section 8.01. Option to Effect
Legal Defeasance or Covenant Defeasance. 
 (a) The Company may, at its option and at any time, elect to have either Section 8.02
or 8.03 hereof applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8. 
 Section 8.02.
Legal Defeasance and Discharge. 

  
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 Upon the Company’s exercise under Section 8.01 hereof of the option applicable to
this Section 8.02, the Company and the Subsidiary Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from their obligations with respect to all outstanding
Notes and Subsidiary Guarantees on the date the conditions set forth below are satisfied (“Legal Defeasance”). For this purpose, Legal Defeasance means that the Company shall be deemed to have paid and discharged the entire
Indebtedness represented by the outstanding Notes, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in (a) and (b) below, to
have satisfied all of its other obligations under such Notes, the Subsidiary Guarantees and this Indenture including that of the Subsidiary Guarantors (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments
acknowledging the same), and to have cured all then-existing Events of Default, except for the following provisions which shall survive until otherwise terminated or discharged hereunder: 

(a) the rights of Holders of outstanding Notes to receive payments in respect of the principal of, or interest or premium, if any, on such
Notes when such payments are due from the trust referred to in Section 8.04 hereof; 
 (b) the Company’s obligations with respect
to the Notes concerning issuing temporary Notes, registration of Notes, mutilated, destroyed, lost or stolen Notes and the maintenance of an office or agency for payment and money for security payments held in trust; 

(c) the rights, powers, trusts, duties and immunities of the Trustee hereunder, and the Company’s obligations in connection therewith;
and 
 (d) this Section 8.02. 

If the Company exercises the Legal Defeasance option, the Subsidiary Guarantees in effect at such time shall terminate and each Subsidiary
Guarantor shall be automatically and unconditionally released and discharged from all of its obligations with respect thereto. 
 Subject to
compliance with this Article 8, the Company may exercise its option under this Section 8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof. If the Company exercises its Legal Defeasance option, payment of the
Notes may not be accelerated because of an Event of Default with respect to the Notes. 
 Section 8.03. Covenant Defeasance.

 Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, the Company and the
Subsidiary Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, terminate and be released from their obligations under the covenants contained in Sections 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09,
4.10, 4.11, 4.12, 4.14, 4.15, 4.16 and 4.17 hereof and clause (3) and (4) of Section 5.01(a) and, clause (1)(b), (1)(c), (1)(d) and (2) of Section 5.01(b) hereof with respect to the outstanding Notes on and after the date the
conditions set forth in Section 8.04 hereof are satisfied (“Covenant Defeasance”), and the Notes shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of
Holders (and the consequences of any thereof) in 

  
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connection with such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder. For this purpose, Covenant Defeasance means that, with respect to the
outstanding Notes, the Company and the Subsidiary Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any
reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under
Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby. In addition, upon the Company’s exercise under Section 8.01 hereof of the option applicable to this
Section 8.03, subject to the satisfaction of the conditions set forth in Section 8.04, Sections 6.01(a)(4), 6.01(a)(5), 6.01(a)(6) (with respect to Significant Subsidiaries only), 6.01(a)(7) (with respect to Significant Subsidiaries only),
6.01(a)(8) and 6.01(a)(9) shall not constitute Events of Default. 
 If the Company exercises the Covenant Defeasance option, the Subsidiary
Guarantees in effect at such time will terminate and each Subsidiary Guarantor shall be automatically and unconditionally released and discharged from all of its obligations with respect thereto. 

Section 8.04. Conditions to Legal or Covenant Defeasance. 

The following shall be the conditions to the application of either Section 8.02 or 8.03 hereof to the outstanding Notes: 

In order to exercise either Legal Defeasance or Covenant Defeasance with respect to the Notes: 

(1) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders of the Notes, cash in U.S.
dollars, non-callable U.S. Government Obligations, or a combination of cash in U.S. dollars and non-callable U.S. Government Obligations, in amounts as shall be
sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal of, or interest and premium, if any, on the outstanding Notes on the Stated Maturity or on the applicable redemption date, as the case
may be, and the Company must specify whether the Notes are being defeased to maturity or to a particular redemption date; 

(2) in the case of Legal Defeasance, the Company has delivered to the Trustee an Opinion of Counsel stating that (a) the
Company has received from, or there has been published by, the Internal Revenue Service a ruling or (b) since the Issue Date, there has been a change in the applicable U.S. federal income tax law, in either case to the effect that, and based
thereon such Opinion of Counsel shall confirm that, the beneficial owners of the respective outstanding Notes shall not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Legal Defeasance and shall be subject to
U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 

(3) in the case of Covenant Defeasance, the Company has delivered to the Trustee an Opinion of Counsel stating that the
beneficial owners of the respective 

  
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outstanding Notes shall not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Covenant Defeasance and shall be subject to U.S. federal income tax on the same
amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

(4) no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or Event of
Default resulting from the borrowing of funds to be applied to such deposit and the grant of any Lien securing such borrowings) or insofar as Events of Default resulting from the borrowing of funds or insolvency events are concerned, at any time in
the period ending on the 91st day after the date of deposit; 
 (5) the Company must deliver to the Trustee an Opinion of
Counsel stating that, assuming, among other things, no intervening bankruptcy of the Company between the date of deposit and the 91st day following the deposit and assuming that no Holder is an “insider” of the Company under applicable
bankruptcy law, after the 91st day following the deposit, the trust funds shall not be subject to the effect of any applicable bankruptcy, insolvency, reorganization of similar laws affecting creditors’ rights generally; 

(6) the Company must deliver to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company
with the intent of defeating, hindering, delaying or defrauding creditors of the Company or others; and 
 (7) the Company
must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel (which Opinion of Counsel may be subject to customary assumptions and exclusions), each stating that all conditions precedent relating to the Legal Defeasance or the
Covenant Defeasance, as the case may be, have been complied with. 
 Section 8.05. Deposited Money and U.S. Government Obligations
to Be Held in Trust; Other Miscellaneous Provisions. 
 Subject to Section 8.06 hereof, all money and U.S. Government Obligations
(including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in respect of the outstanding Notes
shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company or a Subsidiary Guarantor acting as Paying
Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium and interest, but such money need not be segregated from other funds except to the extent required by law.

 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or U.S.
Government Obligations deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes.

  
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 Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Company from time to time upon the request of the Company any money or U.S. Government Obligations held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(1) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent
Legal Defeasance or Covenant Defeasance. 
 Section 8.06. Repayment to the Company. 

Subject to applicable unclaimed property law, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust
for the payment of the principal of, premium or interest on any Note and remaining unclaimed for two years after such principal, and premium or interest has become due and payable shall be paid to the Company on its request or (if then held by the
Company) shall be discharged from such trust; and the Holder of such Note shall thereafter look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the
Company as trustee thereof, shall thereupon cease. 
 Section 8.07. Reinstatement. 

If the Trustee or Paying Agent is unable to apply any U.S. dollars or U.S. Government Obligations in accordance with Section 8.02 or 8.03
hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Notes shall be
revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03 hereof, as the
case may be; provided that, if the Company makes any payment of principal of, premium or interest on any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such
payment from the money held by the Trustee or Paying Agent. 
 ARTICLE 9 

AMENDMENT, SUPPLEMENT AND WAIVER 

Section 9.01. Amendments Without Consent of Holders. Notwithstanding Section 9.02 hereof, without the consent of any
Holder, the Company, any Subsidiary Guarantor (with respect to its Subsidiary Guarantor or this Indenture) and the Trustee may amend or supplement this Indenture, the Notes and the Subsidiary Guarantees to: 

(1) cure any ambiguity, omission, mistake, defect or inconsistency; 

(2) comply with Article 5; 

(3) provide for the assumption by a successor entity (or co-issuer) of the obligations
of the Company or any Subsidiary Guarantor under this Indenture, the Notes 

  
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or any Subsidiary Guarantee (whether through merger, consolidation, sale of all or substantially all of assets and properties or otherwise); 

(4) provide for or facilitate the issuance of uncertificated Notes in addition to or in place of certificated Notes (provided
that the uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code); 
 (5) comply
with the rules of any applicable depositary; 
 (6) add Guarantees with respect to the Notes or release a Subsidiary
Guarantor from its obligations under its Subsidiary Guarantee or this Indenture in accordance with the applicable provisions of this Indenture; 

(7) secure the Notes and the Subsidiary Guarantees; 

(8) add to the covenants of the Company and its Restricted Subsidiaries or Events of Default for the benefit of the Holders or
to make changes that would provide additional rights to Holders or to surrender any right or power conferred upon the Company or any Subsidiary Guarantor; 

(9) make any change that does not materially adversely affect the rights of any Holder under this Indenture; 

(10) evidence or provide for the appointment under this Indenture of a successor trustee; provided that the successor trustee
is otherwise qualified and eligible to act as such under the terms of this Indenture; 
 (11) provide for the issuance of
Additional Notes under this Indenture; 
 (12) comply with the provisions described under Article 10 or Section 4.15;

 (13) conform the text of this Indenture (including any supplemental indenture or other instrument pursuant to which
Additional Notes are issued), the Notes or the Subsidiary Guarantees to any provision of the “Description of Notes” section of the Company’s Offering Memorandum dated June 17, 2020 to the extent that such provision in such
“Description of Notes” section was intended to be a verbatim recitation of a provision of this Indenture, the Notes or the Subsidiary Guarantees as confirmed to the Trustee by an Officers’ Certificate, or, with respect to any
Additional Notes or any supplemental indenture or other instrument pursuant to which Additional Notes or any supplemental indenture or other instrument pursuant to which Additional Notes are issued, to any provision of the “Description of
Notes” relating to the issuance of the Additional Notes solely to the extent that the “Description of Notes” provides for terms of such Additional Notes that differ from the terms of the Initial Notes; or 

(14) make any amendment to the provisions of this Indenture relating to the transfer and legending of Notes as permitted by
this Indenture, including, without limitation to facilitate the issuance and administration of the Notes; provided, however, that (A) compliance with this Indenture as so amended would not result in Notes being

  
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transferred in violation of the Securities Act or any applicable securities law and (B) such amendment does not materially and adversely affect the rights of Holders to transfer Notes. 

After an amendment or supplement under this Indenture becomes effective, the Company is required to deliver or mail to the Holders a notice
briefly describing such amendment, supplement or waiver. However, the failure to deliver or mail such notice to all the Holders, or any defect in the notice, shall not impair or affect the validity of the amendment, supplement or waiver. 

Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or
supplemental indenture, and upon receipt by the Trustee of the documents described in Section 9.04 and Section 12.03 hereof, as applicable, the Trustee shall join with the Company and the Subsidiary Guarantors in the execution of any
amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into such amended
or supplemental indenture that affects its own rights, duties or immunities under this Indenture or otherwise. 
 Section 9.02.
Amendments with Consent of Holders(a) . (a) Except as provided in this Section 9.02, the Company, the Subsidiary Guarantors (as applicable) and the Trustee may amend or supplement this Indenture, the Notes and the Subsidiary
Guarantees with the consent of the Holders of a majority in aggregate principal amount of the then-outstanding Notes (including Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a
purchase of, or tender offer or exchange offer for, Notes), and, subject to Sections 6.04 and 6.07 hereof, any existing or past Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium, if
any, or interest on the Notes, except a Payment Default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture, the Notes or the Subsidiary Guarantees may be waived with the consent of the Holders
of a majority in aggregate principal amount of the then outstanding Notes (including Additional Notes, if any) voting as a single class (including consents obtained in connection with the purchase of, or tender offer or exchange offer for, Notes).
Section 2.05 hereof shall determine which Notes are considered to be “outstanding” for the purposes of this Section 9.02. 

(b) Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or
supplemental indenture, and upon delivery to the Trustee of evidence of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 9.04 and Section 12.03 hereof, as applicable,
the Trustee shall join with the Company in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise,
in which case the Trustee may in its discretion, but shall not be obligated to, enter into such amended or supplemental indenture. 

  
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 (c) It shall not be necessary for the consent of the Holders of Notes under this
Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. A consent to any amendment, supplement or waiver under this Indenture by any
Holder of Notes given in connection with a tender of such Holder’s Notes shall not be rendered invalid by such tender. 
 (d) After an
amendment, supplement or waiver under this Section 9.02 becomes effective, the Company shall deliver or mail to the Holders a notice briefly describing such amendment, supplement or waiver; provided that the failure to deliver or mail
such notice to all the Holders, or any defect in the notice will not impair or affect the validity of the amendment, supplement or waiver. 

(e) Without the consent of each affected Holder of Notes, an amendment, supplement or waiver under this Section 9.02 may not (with
respect to any Notes held by a non-consenting Holder): 
 (1) reduce the percentage
of the aggregate principal amount of Notes whose Holders must consent to an amendment, supplement or waiver; 
 (2) reduce
the stated rate of interest or extend the stated time for payment of interest on any Note; 
 (3) reduce the principal of or
extend the Stated Maturity of any Note; 
 (4) waive a Default or Event of Default in the payment of principal of, or
interest or premium, if any, on the Notes (except a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then-outstanding Notes with respect to a
non-payment default and a waiver of the Payment Default that resulted from such acceleration); 

(5) reduce the premium payable upon the redemption or repurchase of any Note or change the time at which any Note may be
redeemed or repurchased under Section 3.01, Section 4.10 and Section 4.14 whether through an amendment or waiver of provisions in the covenants, definitions or otherwise (except amendments to the definition of “Change of
Control”) (other than any change to the notice periods with respect to such redemption); 
 (6) make any Note payable in
money other than that stated in the Note; 
 (7) otherwise impair the right of any Holder to receive payment of principal,
premium, if any, and interest on such Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes; 

(8) make any change in the amendment provisions which require each Holder’s consent or in the provisions of this Indenture
relating to waivers of Defaults or Events of Default; or 

  
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 (9) modify the Subsidiary Guarantees in any manner materially adverse to the
Holders of the Notes. 
 Section 9.03. Revocation and Effect of Consents. 

Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a
Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, except as may be provided by the terms of any
request for consent, any such Holder of a Note or subsequent Holder of a Note may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the waiver, supplement or amendment becomes effective. An
amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 
 Section 9.04.
Trustee to Sign Amendments, etc. 
 The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article 9
if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amendment, supplement or waiver until its Board of Directors approves it. In executing any amendment,
supplement or waiver, the Trustee shall be entitled to receive and (subject to Section 7.01 and Section 7.02 hereof) shall be fully protected in relying upon, in addition to the documents required by Section 12.03 hereof, an
Officers’ Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental indenture is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding
obligation of the Company and any Subsidiary Guarantors party thereto, enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions hereof. 

Notwithstanding anything to the contrary herein, no Opinion of Counsel with respect to conditions precedent or as to whether the supplement is
authorized or permitted will be required for the Trustee to execute any amendment or supplement entered into in connection with adding Subsidiary Guarantors. 

ARTICLE 10 

SUBSIDIARY GUARANTEES 

Section 10.01. Subsidiary Guarantee. 

(a) Subject to this Article 10, each of the Subsidiary Guarantors shall, jointly and severally, irrevocably and unconditionally guarantee to
each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes or the obligations of the Company hereunder or
thereunder, that: (a) the principal of, premium, if any, or interest on the Notes shall be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on
the Notes, if any, if lawful, and all other Obligations of the Company to the Holders or the Trustee hereunder or thereunder shall be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and

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

(b) The Subsidiary Guarantors hereby agree that their obligations hereunder shall be unconditional, irrespective of the validity, regularity
or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any
action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Subsidiary Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with
a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenants that this Subsidiary Guarantee shall not be discharged except by
complete performance of the obligations contained in the Notes and this Indenture. 
 (c) If any Holder or the Trustee is required by any
court or otherwise to return to the Company, the Subsidiary Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to the Company or the Subsidiary Guarantors, any amount paid either to the Trustee or such
Holder, this Subsidiary Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. 
 (d) Each
Subsidiary Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Subsidiary Guarantor
further agrees that, as between the Subsidiary Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the
purposes of this Subsidiary Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of such
obligations as provided in Article 6 hereof, such obligations (whether or not due and payable) shall forthwith become due and payable by the Subsidiary Guarantors for the purpose of this Subsidiary Guarantee. The Subsidiary Guarantors shall have the
right to seek contribution from any non-paying Subsidiary Guarantor so long as the exercise of such right does not impair the rights of the Holders under the Subsidiary Guarantees. 

(e) Each Subsidiary Guarantee shall remain in full force and effect and continue to be effective should any petition be filed by or against
the Company for liquidation, reorganization, should the Company become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be appointed for all or any significant part of the Company’s assets, and shall,
to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Notes are, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored
or returned by any obligee on 

  
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the Notes or Subsidiary Guarantees, whether as a “voidable preference,” “fraudulent transfer” or otherwise, all as though such payment or performance had not been made. In the
event that any payment or any part thereof, is rescinded, reduced, restored or returned, the Notes shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or
returned. 
 (f) In case any provision of any Subsidiary Guarantee shall be invalid, illegal or unenforceable, the validity, legality, and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 (g) Each payment to be made by a
Subsidiary Guarantor in respect of its Subsidiary Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind or nature. 

Section 10.02. Limitation on Subsidiary Guarantor Liability. 

(a) Each Subsidiary Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that
the Subsidiary Guarantee of such Subsidiary Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law
to the extent applicable to any Subsidiary Guarantee. 
 (b) To effectuate the foregoing intention, the Trustee, the Holders and the
Subsidiary Guarantors hereby irrevocably agree that the obligations of each Subsidiary Guarantor under its Subsidiary Guarantee will be limited to the maximum amount as will, after giving effect to such maximum amount and all other contingent and
fixed liabilities of such Subsidiary Guarantor (including, without limitation, any Guarantees under the Senior Credit Facility) that are relevant under such laws and after giving effect to any collections from, rights to receive contribution from or
payments made by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other Subsidiary Guarantor under this Article 10, result in the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee not
constituting a fraudulent conveyance or fraudulent transfer under applicable law. Any Subsidiary Guarantor that makes a payment under its Subsidiary Guarantee will be entitled upon payment in full of all Guaranteed Obligations under this Indenture
to a contribution from each other Subsidiary Guarantor in an amount equal to such other Subsidiary Guarantor’s pro rata portion of such payment based on the respective net assets of all the Subsidiary Guarantors at the time of such payment
determined in accordance with GAAP. 
 Section 10.03. Execution and Delivery. 

To evidence its Subsidiary Guarantee set forth in Section 10.01 hereof, each Subsidiary Guarantor hereby agrees that this Indenture shall
be executed on behalf of such Subsidiary Guarantor by an Officer of such Subsidiary Guarantor. 
 Each Subsidiary Guarantor hereby agrees
that its Subsidiary Guarantee set forth in Section 10.01 hereof shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such Subsidiary Guarantee on the Notes. 

  
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 If an Officer whose signature is on this Indenture no longer holds that office at the time
the Trustee authenticates the Note, the Subsidiary Guarantee shall be valid nevertheless. 
 The delivery of any Note by the Trustee, after
the authentication thereof hereunder, shall constitute due delivery of the Subsidiary Guarantee set forth in this Indenture on behalf of the Subsidiary Guarantors. 

To the extent required by Section 4.15 hereof, the Company shall cause any newly created or acquired Restricted Subsidiary to comply with
the provisions of Section 4.15 hereof and this Article 10, to the extent applicable. 
 Section 10.04. Subrogation. 

Each Subsidiary Guarantor shall be subrogated to all rights of Holders of Notes against the Company in respect of any amounts paid by any
Subsidiary Guarantor pursuant to the provisions of Section 10.01 hereof; provided that, if an Event of Default has occurred and is continuing, no Subsidiary Guarantor shall be entitled to enforce or receive any payments arising out of,
or based upon, such right of subrogation until all amounts then due and payable by the Company under this Indenture or the Notes shall have been paid in full. 

Section 10.05. Benefits Acknowledged. 

Each Subsidiary Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this
Indenture and that the guarantee and waivers made by it pursuant to its Subsidiary Guarantee are knowingly made in contemplation of such benefits. 

Section 10.06. Release of Subsidiary Guarantees. 

A Subsidiary Guarantee by a Subsidiary Guarantor shall be automatically and unconditionally released and discharged, and no further action by
such Subsidiary Guarantor, the Company or the Trustee is required for the release of such Subsidiary Guarantor’s Subsidiary Guarantee, upon: 

(A) the occurrence of any sale, exchange, transfer or other disposition (by merger, amalgamation, consolidation or otherwise)
of all of the Capital Stock of such Subsidiary Guarantor (including any sale, exchange, transfer or other disposition after which the applicable Subsidiary Guarantor is no longer a Restricted Subsidiary) or of all or substantially all of the assets
and property of such Subsidiary Guarantor, which sale, exchange, transfer or other disposition is made in compliance with the applicable provisions of this Indenture (to the extent such provisions are required to be satisfied as of the date of the
transaction); 
 (B) the release or discharge of such Subsidiary Guarantor from its Guarantee of Indebtedness of the Company
and the Subsidiary Guarantors under the Senior Credit Facility (including by reason of the termination of the Senior Credit Facility), except a discharge or release by or as a result of payment under

  
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such Guarantee (it being understood that a release subject to a contingent reinstatement is still a release, and that if any such Guarantee is so reinstated, such Subsidiary Guarantee shall also
be reinstated to the extent that such Subsidiary Guarantor would then be required to Guarantee the Notes pursuant to this Indenture); 

(C) the designation of any Restricted Subsidiary that is a Subsidiary Guarantor as an Unrestricted Subsidiary in compliance
with Section 4.17; or 
 (D) the Company exercising its Legal Defeasance option or Covenant Defeasance option as
described under Article 8 or the Company’s obligations under this Indenture being discharged in accordance with the terms of this Indenture; and 

(2) such Subsidiary Guarantor delivering to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
that all conditions precedent provided for in this Indenture relating to such transaction and/or release have been complied with. 
 ARTICLE
11 
 SATISFACTION AND DISCHARGE 

Section 11.01. Satisfaction and Discharge. 

This Indenture shall be discharged and shall cease to be of further effect (and any collateral then securing the Notes or any Subsidiary
Guarantees shall be released) as to all Notes, when: 
 (1) either: 

(A) all Notes that have been authenticated and delivered, except lost, stolen or destroyed Notes that have been replaced
pursuant to Section 2.04 or paid and Notes for whose payment money has been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from trust, have been delivered to the Trustee for
cancellation; or 
 (B) all Notes not theretofore delivered to the Trustee for cancellation (i) have become due and
payable by reason of the making of a notice of redemption or otherwise, (ii) will become due and payable within one year or (iii) have been called for redemption or are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, and the Company or any Subsidiary Guarantor has irrevocably deposited or caused to be deposited with the Trustee, as
trust funds in trust solely for the benefit of the Holders of the Notes, cash in U.S. dollars, U.S. Government Obligations, or a combination thereof, in such amounts as shall be sufficient without consideration of any reinvestment of interest to pay
and discharge the 

  
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entire Indebtedness on the Notes not theretofore delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest to the date of maturity or redemption; 

(2) the Company or any Subsidiary Guarantor has paid or caused to be paid all sums then due and payable under this Indenture;
and 
 (3) the Company has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited
money toward the payment of the Notes at maturity or the redemption date, as the case may be, 
 then the Trustee shall acknowledge satisfaction and
discharge of this Indenture with respect to the Notes on demand of the Company (accompanied by an Officers’ Certificate and an Opinion of Counsel stating that all conditions precedent specified herein relating to the satisfaction and discharge
of this Indenture have been complied with) and at the cost and expense of the Company. 
 Notwithstanding the satisfaction and discharge of
this Indenture, if money shall have been deposited with the Trustee pursuant to clause (1)(B) of this Section 11.01, the provisions of Section 11.02 and Section 8.06 shall survive. 

Section 11.02. Application of Trust Money. 

Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee pursuant to Section 11.01 hereof shall be
held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to
the Persons entitled thereto, of the principal (and premium) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by law. 

If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations in accordance with Section 11.01 hereof by
reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s and any Subsidiary Guarantor’s obligations under
this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 11.01 hereof; provided that if the Company has made any payment of principal of, premium, if any, or interest on any Notes
because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent. 

ARTICLE 12 

MISCELLANEOUS 

Section 12.01. Holder Communications; Holder Actions. (a) The rights of Holders to communicate with other Holders with
respect to this Indenture or the Notes are as provided by 

  
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the Trust Indenture Act, and the Company and the Trustee shall comply with the requirements of Trust Indenture Act Sections 312(a) and 312(b). Neither the Company nor the Trustee will be held
accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act. 
 (b)
(1) Any request, demand, authorization, direction, notice, consent to amendment, supplement or waiver or other action provided by this Indenture to be given or taken by a Holder (for purposes of this Section 12.01, an “act”)
may be evidenced by an instrument signed by the Holder delivered to the Trustee. The fact and date of the execution of the instrument, or the authority of the person executing it, may be proved in any manner that the Trustee deems sufficient. 

(2) The Trustee may make reasonable rules for action by or at a meeting of Holders, which will be binding on all the Holders.

 (c) Any act by the Holder of any Note binds that Holder and every subsequent Holder of a Note that evidences the same debt as the Note of
the acting Holder, even if no notation thereof appears on the Note. Subject to paragraph(d), a Holder may revoke an act as to its Notes, but only if the Trustee receives the notice of revocation before the date the amendment or waiver or other
consequence of the act becomes effective. 
 (d) The Company may, but is not obligated to, fix a record date (which need not be within the
time limits otherwise prescribed by Trust Indenture Act Section 316(c)) for the purpose of determining the Holders entitled to act with respect to any amendment or waiver or in any other regard, except that during the continuance of an Event of
Default, only the Trustee may set a record date as to notices of Default, any declaration or acceleration or any other remedies or other consequences of the Event of Default. If a record date is fixed, those Persons that were Holders at such record
date and only those Persons will be entitled to act, or to revoke any previous act, whether or not those Persons continue to be Holders after the record date. No act will be valid or effective for more than 90 days after the record date. 

Section 12.02. Notices. (a) Any notice or communication to the Company or the Trustee will be deemed given if in writing
(i) when delivered in person or (ii) three days after mailing when mailed by first class mail, (iii) when sent by facsimile transmission, with transmission confirmed or (iv) the next Business Day after timely delivery to the
courier, if sent by overnight air courier guaranteeing next day delivery. Notices or communications to a Subsidiary Guarantor will be deemed given if given to the Company. In each case the notice or communication should be addressed as follows: 

if to the Company: 

Viasat, Inc. 
 6155 El Camino Real

 Carlsbad, CA 92009 

Attention: General Counsel 

if to the Trustee: 

  
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 Wilmington Trust, National Association 

Global Capital Markets 
 50 South
Sixth Street, Suite 1290 
 Minneapolis, MN 55402-1544 

Fax No.: (612) 217-5651 

Attention: Viasat, Inc. Administrator 
 The
Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 

(b) Except as otherwise expressly provided with respect to published notices, any notice or communication to a Holder will be deemed given
when mailed to the Holder at its address as it appears on the Register by first class mail or by other electronic means or such other delivery system as the Trustee agrees to accept. Notwithstanding the foregoing, as to any Global Note registered in
the name of a Depositary or its nominee, any notice or communication shall be sufficiently given if given to the Depositary according to the Applicable Procedures of the Depositary (or as otherwise as agreed by the Company, the Trustee and the
Depositary). Copies of any notice or communication to a Holder, if given by the Company, will be mailed to the Trustee at the same time. Defect in mailing a notice or communication to any particular Holder will not affect its sufficiency with
respect to other Holders. 
 (c) Where this Indenture provides for notice, the notice may be waived in writing by the Person entitled to
receive such notice, either before or after the event, and the waiver will be the equivalent of the notice. Waivers of notice by Holders must be filed with the Trustee, but such filing is not a condition precedent to the validity of any action taken
in reliance upon such waivers. 
 (d) If a notice or communication is delivered or mailed in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it. 
 Notwithstanding any other provision of this Indenture or any
Note, where this Indenture or any Note provides for notice of any event (including any notice of redemption or repurchase) to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently given if given to the
Depositary (or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance with Applicable Procedures. 

Section 12.03. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee
to take any action under this Indenture (except (x) as provided in Sections 2.04, 3.03(e) and 3.04(e) and (y) with respect to an Opinion of Counsel, in connection with the original issuance of any Notes or the execution of any amendment or
supplement entered into in connection with adding any Subsidiary Guarantor under this Indenture), the Company shall furnish to the Trustee: 

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

  
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 (2) an Opinion of Counsel stating that all such conditions precedent have
been complied with. 
 Section 12.04. Statements Required in Certificate or Opinion. Each certificate or opinion with respect to
compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to Section 4.04 hereof) shall include: 

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

(2) a brief statement as to the nature and scope of the examination or investigation upon which the statement or opinion
contained in the certificate or opinion is based; 
 (3) a statement that, in the opinion of each such person, that person
has made such examination or investigation as is necessary to enable the person to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(4) a statement as to whether or not, in the opinion of each such person, such condition or covenant has been complied with,
provided that an Opinion of Counsel may rely on an Officers’ Certificate or certificates of public officials with respect to matters of fact. 

Section 12.05. Payment Date Other Than a Business Day. If any payment with respect to a payment of any principal of,
premium, if any, or interest on any Note (including any payment to be made on any date fixed for redemption or purchase of any Note) is due on a day which is not a Business Day, then the payment need not be made on such date, but may be made on the
next Business Day with the same force and effect as if made on such date, and no interest will accrue for the intervening period. 

Section 12.06. Governing Law. This Indenture, including any Subsidiary Guarantees, and the Notes shall be governed by, and
construed in accordance with, the laws of the State of New York. 
 Section 12.07. Jurisdiction. The parties hereby
(i) irrevocably submit to the exclusive jurisdiction of any federal or state court sitting in Borough of Manhattan, the city of New York, (ii) waive any objection to laying of venue in any such action or proceeding in such courts, and
(iii) waive any objection that such courts are an inconvenient forum or do not have jurisdiction over any party. 
 Section 12.08.
Waiver of Jury Trial. EACH PARTY HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS
INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

  
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 Section 12.09. No Adverse Interpretation of Other Agreements. This
Indenture may not be used to interpret another indenture or loan or debt agreement of the Company or any Subsidiary of the Company, and no such indenture or loan or debt agreement may be used to interpret this Indenture. 

Section 12.10. Successors. All agreements of the Company or any Subsidiary Guarantor in this Indenture and the Notes will
bind its successors. All agreements of the Trustee in this Indenture will bind its successors. 
 Section 12.11. Duplicate
Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 

Section 12.12. Separability. In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 

Section 12.13. Table of Contents and Headings. The Table of Contents and headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and in no way modify or restrict any of the terms and provisions of this Indenture. 

Section 12.14. No Liability of Directors, Officers, Employees, Incorporators, Members and Stockholders. No director,
officer, employee, incorporator, member or stockholder of the Company or any Subsidiary Guarantor, as such, will have any liability for any obligations of the Company or such Subsidiary Guarantor under the Notes, any Subsidiary Guarantee or this
Indenture or for any claim based on, in respect of, or by reason of, such obligations. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.

 Section 12.15. Force Majeure. In no event will the Trustee be responsible or liable to any Holder for any failure or delay in
the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances,
pandemics, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee will use reasonable efforts that are
consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

Section 12.16. Electronic Transmission. This Indenture shall be valid, binding, and enforceable against a party when executed and
delivered by an authorized individual on behalf of the party by means of (i) an original manual signature; (ii) a faxed, scanned, or photocopied manual signature, or (iii) any other electronic signature permitted by the federal
Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law, including any relevant provisions of the Uniform Commercial Code
(collectively, “Signature Law”), in each case to the extent applicable. Each faxed, scanned, or photocopied manual signature, or other electronic 

  
 117 

 
signature, shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual signature. Each party hereto shall be entitled to conclusively rely
upon, and shall have no liability with respect to, any faxed, scanned, or photocopied manual signature, or other electronic signature, of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity
thereof. For the avoidance of doubt, original manual signatures shall be used for execution or indorsement of writings when required under the Uniform Commercial Code or other Signature Law due to the character or intended character of the writings.

 [Signature page follows] 

  
 118 

 SIGNATURES 

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

 

			
	 VIASAT, INC.
 as
Issuer

		
	By:	 	/s/ Shawn Duffy
		 	Name: Shawn Duffy
		 	Title: Senior Vice President and Chief Financial Officer

  

			
	 WILMINGTON TRUST, NATIONAL ASSOCIATION

as Trustee

		
	By:	 	/s/ Jane Schweiger
		 	Name: Jane Schweiger
		 	Title: Vice President

 EXHIBIT A 

[FACE OF NOTE] 
 VIASAT, INC. 

6.500% Senior Note due 2028 
 [CUSIP] [CINS]
_______________ 
  

			
	No.	  	$_______________

 Viasat, Inc., a Delaware corporation (the “Company”, which term includes any successor under
the Indenture hereinafter referred to), for value received, promises to pay to ____________________, or its registered assigns, the principal sum of ____________ DOLLARS ($______) on July 15, 2028. 

Interest Rate: 6.500% per annum. 

Interest Payment Dates: January 15 and July 15, commencing ______________. 

Regular Record Dates: January 1 and July 1. 

Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same
effect as if set forth at this place. 

  
 A-1 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized officers. 
  

							
	Date:	 		 	VIASAT, INC.
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:

  
 A-2 

 (Form of Trustee’s Certificate of Authentication) 

This is one of the 6.500 % Senior Notes due 2028 described in the Indenture referred to in this Note. 

 

			
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Trustee

 
			
		
	By:	 	 
		 	Authorized Signatory

 Dated: 

  
 A-3 

 [REVERSE SIDE OF NOTE] 

VIASAT, INC. 
 6.500 % Senior Note due 2028

  

	1.	 Principal and Interest. 

The Company promises to pay the principal of this Note on July 15, 2028. 

The Company promises to pay interest on the principal amount of this Note on each interest payment date, as set forth on the face of this
Note, at the rate of 6.500 % per annum. 
 Interest will be payable semiannually (to the Holders of record of the Notes at the close of
business on the January 1 or July 1 immediately preceding the interest payment date) on each interest payment date, commencing ____________. 

Interest on this Note will accrue from the most recent date to which interest has been paid on this Note (or, if there is no existing Default
in the payment of interest and if this Note is authenticated between a regular record date and the next interest payment date, from such interest payment date) or, if no interest has been paid, from the Issue Date. Interest will be computed in the
basis of a 360-day year of twelve 30-day months. 
 The
Company will pay interest on overdue principal, premium, if any, and, to the extent lawful, interest at the interest rate on the Notes. 
  

	2.	 Indentures; Note Guaranty. 

This is one of the Notes issued under an Indenture dated as of June 24, 2020 (as amended or supplemented from time to time, the
“Indenture”), between the Company and Wilmington Trust, National Association, as Trustee. Capitalized terms used herein are used as defined in the Indenture unless otherwise indicated. The terms of the Notes include those stated in
the Indenture. The Notes are subject to all such terms, and Holders are referred to the Indenture for a statement of all such terms. To the extent permitted by applicable law, in the event of any inconsistency between the terms of this Note and the
terms of the Indenture, the terms of the Indenture will control. 
 The Notes are general unsecured, senior obligations of the Company,
pari passu in right of payment with any existing and future senior Indebtedness of the Company. The Indenture limits the original aggregate principal amount of the Notes to $400,000,000, but Additional Notes may be issued pursuant to the
Indenture, and the originally issued Notes and all such Additional Notes vote together for all purposes as a single class. This Note may be guaranteed as set forth in the Indenture. 

 

	3.	 Redemption and Repurchase; Discharge Prior to Redemption or Maturity. 

  
 A-4 

 This Note is subject to optional redemption, and may be the subject of an Offer to Purchase,
as further described in the Indenture. There is no sinking fund or mandatory redemption applicable to this Note. 
 If the Company deposits
with the Trustee money or U.S. Government Obligations sufficient to pay the then outstanding principal of, premium, if any, and accrued interest on the Notes to redemption or maturity, the Company may in certain circumstances be discharged from the
Indenture and the Notes or may be discharged from certain of its obligations under certain provisions of the Indenture. 
  

	4.	 Registered Form; Denominations; Transfer; Exchange. 

The Notes are in registered form without coupons in minimum denominations of $2,000 principal amount and any multiple of $1,000 in excess
thereof. A Holder may register the transfer or exchange of Notes in accordance with the Indenture. The Trustee may require a Holder to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted
by the Indenture. Pursuant to the Indenture, there are certain periods during which the Trustee will not be required to issue, register the transfer of or exchange any Note or certain portions of a Note. 

 

	5.	 Defaults and Remedies. 

If an Event of Default (other than an Event of Default arising from certain events of bankruptcy or insolvency), occurs and is continuing, the
Trustee by notice in writing specifying the Event of Default and that it is a “notice” to the Company, or the Holders of at least 25% in aggregate principal amount of the then-outstanding Notes by notice to the Company and the Trustee, may
declare the principal of, premium, if any, and accrued and unpaid interest, if any, on all the Notes to be due and payable. Upon such a declaration, such principal, premium, if any, and accrued and unpaid interest, if any, shall be due and payable
immediately. If certain events of bankruptcy or insolvency with respect to the Company occur and is continuing, the principal of, premium, if any, and accrued and unpaid interest, if any, on all of the Notes automatically become due and payable.

  

	6.	 Amendment and Waiver. 

The Indenture, the Subsidiary Guarantees or the Notes may be amended or supplemented as provided in the Indenture. 

 

	7.	 Authentication. 

This Note is not valid until the Trustee (or Authenticating Agent) signs the certificate of authentication on the other side of this Note.

  

	8.	 Governing Law. 

This Note shall be governed by, and construed in accordance with, the laws of the State of New York. 

  
 A-5 

	9.	 Abbreviations. 

Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A/ (= Uniform Gifts to Minors Act). 

The Company will furnish a copy of the Indenture to any Holder upon written request and without charge. 

  
 A-6 

 [FORM OF TRANSFER NOTICE] 

FOR VALUE RECEIVED the undersigned registered Holder hereby sell(s), assign(s) and transfer(s) unto 

 

	
	 Insert Taxpayer Identification No.

	
	 
	 
	Please print or typewrite name and address including zip code of assignee
	
	 
	the within Note and all rights thereunder, hereby irrevocably constituting and appointing
	
	 

 attorney to transfer said Note on the books of the Company with full power of substitution in the premises. 

  
 A-7 

 [THE FOLLOWING PROVISION TO BE INCLUDED ON ALL CERTIFICATES BEARING A RESTRICTED LEGEND] 

In connection with any transfer of this Note, the undersigned confirms that such transfer is made without utilizing any general solicitation
or general advertising and further as follows: 
 Check One 

☐ (1) This Note is being transferred to a “qualified institutional buyer” in compliance with Rule 144A under the Securities Act of 1933, as
amended and certification in the form of Exhibit G to the Indenture is being furnished herewith. 
 ☐ (2) This Note is being transferred to a Non-U.S. Person in compliance with the exemption from registration under the Securities Act of 1933, as amended, provided by Regulation S thereunder, and certification in the form of Exhibit F to the Indenture is
being furnished herewith. 
 or 

☐ (3) This Note is being transferred other than in accordance with (1) or (2) above and documents are being furnished which comply with the
conditions of transfer set forth in this Note and the Indenture. 
 If none of the foregoing boxes is checked, the Trustee will refuse to
register this Note in the name of any Person other than the Holder hereof unless and until the conditions to any such transfer of registration set forth herein and in the Indenture have been satisfied. 

 

					
	    Date:	  	 	  	
	 	  	
	Seller	  	

					
			
	By 	  	 	  	
			
		  		  	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within-mentioned instrument in every particular, without alteration or any change
whatsoever.

  
 A-8 

					
	 Signature Guarantee:1
	 	 	 	

  

			
		
	By	 	 

			
	To be executed by an executive officer

  

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

  
 A-9 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you wish to have all of this Note purchased by the Company pursuant to Section 4.10 or Section 4.14 of the Indenture, check the
box: 
  

			
	   [    ] Section 4.10
	  	[    ] Section 4.14

 If you wish to have a portion of this Note purchased by the Company pursuant to Section 4.10 or
Section 4.14 of the Indenture, state the amount (in original principal amount) below: 
 $_____________________. 

Date:____________ 
 Your Signature:__________________________

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

Signature Guarantee:1_____________________________ 

 
  

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

  
 A-10 

 SCHEDULE OF EXCHANGES OF NOTES 

The following exchanges of a part of this Global Note for one or more Certificated Notes or a part of another Global Note, or exchanges of a part of another
Global Note or Certificated Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	 	 Amount of decrease
in principal amount
of this Global
Note
	 	 Amount of increase
in principal amount
of this Global
Note
	  	 Principal amount of
this Global Note
following
such
decrease (or
increase)
	  	 Signature of
authorized
signatory
of
Trustee

  
 A-11 

 EXHIBIT B 

SUPPLEMENTAL INDENTURE 

dated as of __________, ____ 

among 
 VIASAT, INC., 

[NAME OF SUBSIDIARY GUARANTOR] 

and 
 WILMINGTON TRUST, NATIONAL
ASSOCIATION, 
 as Trustee 
  

 
 6.500% Senior
Notes due 2028 

  
 B-1 

 THIS SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), entered into
as of __________, ____, among Viasat, Inc., a Delaware corporation (the “Company”), [insert each Subsidiary Guarantor executing this Supplemental Indenture and its jurisdiction of incorporation] (each an
“Undersigned”) and Wilmington Trust, National Association, as trustee (the “Trustee”). 
 RECITALS

 WHEREAS, the Company and the Trustee entered into the Indenture, dated as of June 24, 2020 (as amended or supplemented from time
to time, the “Indenture”), relating to the Company’s 6.500% Senior Notes due 2028 (the “Notes”); 

WHEREAS, as a condition to the Trustee entering into the Indenture and the purchase of the Notes by the Holders, the Company agreed pursuant
to the Indenture to cause any domestic Restricted Subsidiary that in the future borrows or guarantees Indebtedness under the Senior Credit Facility to guarantee all of the Company’s Obligations under the Indenture and the Notes on the terms and
conditions set forth herein and in the Indenture. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and intending to be legally bound, the parties to this
Supplemental Indenture hereby agree as follows: 
 Section 1. Capitalized terms used herein and not otherwise defined herein are used
as defined in the Indenture. 
 Section 2. Each Undersigned, by its execution of this Supplemental Indenture, agrees to be a Subsidiary
Guarantor under the Indenture and to be bound by the terms of the Indenture applicable to Subsidiary Guarantors, including, but not limited to, Article 10 thereof. Notwithstanding the foregoing, the Subsidiary Guarantee of the Undersigned shall be
automatically and unconditionally released and discharged as set forth in the Indenture, including under the circumstances described in Section 4.18, Article 8, Section 10.06 and Article 11 thereof, and no further action by the Subsidiary
Guarantor, the Company or the Trustee is required for the release of the Undersigned’s Subsidiary Guarantee as contemplated therein. 

Section 3. This Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York. 

Section 4. This Supplemental Indenture may be signed in various counterparts which together will constitute one and the same instrument.

 Section 5. This Supplemental Indenture is an amendment supplemental to the Indenture and the Indenture and this Supplemental
Indenture will henceforth be read together. 

  
 B-2 

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

			
	VIASAT, INC., as Issuer

 
			
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	[SUBSIDIARY GUARANTOR]

 
			
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Trustee

 
			
		
	By:	 	 
		 	Name:
		 	Title:

  
 B-3 

 EXHIBIT C 

RESTRICTED LEGEND 
 THIS NOTE (OR
ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT
OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE NEXT SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 

(A) REPRESENTS THAT IT IS NOT AN “AFFILIATE” (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF VIASAT, INC. AND (A) IT IS A
“QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A “QIB”), OR (B) IT HAS ACQUIRED THIS NOTE IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT; 

(B) AGREES THAT, PRIOR TO (X) THE DATE WHICH IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF (OR OF ANY PREDECESSOR OF THIS
NOTE) OR THE LAST DAY ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WERE THE OWNERS OF THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, IT WILL NOT RESELL OR OTHERWISE
TRANSFER THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN EXCEPT (A) TO VIASAT, INC. OR ANY OF ITS SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) TO PERSONS OTHER THAN U.S. PERSONS IN AN OFFSHORE TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR 904 OF REGULATION S OF THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUER AND THE TRUSTEE) OR
(F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 

(C) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS NOTE OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF
THIS LEGEND. 
 AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTIONS” AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE 902 OF
REGULATIONS 

  
 C-1 

 
UNDER THE SECURITIES ACT. THE INDENTURE CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS NOTE IN VIOLATION OF THE FOREGOING. 

  
 C-2 

 EXHIBIT D 

DTC LEGEND 
 UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN. 

THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE. TRANSFERS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN
PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE TRANSFER PROVISIONS OF THE INDENTURE. 

  
 D-1 

 EXHIBIT E 

REGULATION S LEGEND 
 THIS NOTE
(OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE
ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE NEXT SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 

(A) REPRESENTS THAT IT IS NOT AN “AFFILIATE” (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF VIASAT, INC. AND (A) IT IS A
“QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A “QIB”), OR (B) IT HAS ACQUIRED THIS NOTE IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT; 

(B) AGREES THAT, PRIOR TO (X) THE DATE WHICH IS 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF (OR OF ANY PREDECESSOR OF THIS
NOTE) OR THE LAST DAY ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WERE THE OWNERS OF THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, IT WILL NOT RESELL OR OTHERWISE
TRANSFER THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN EXCEPT (A) TO VIASAT, INC. OR ANY OF ITS SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) TO PERSONS OTHER THAN U.S. PERSONS IN AN OFFSHORE TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR 904 OF REGULATION S OF THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUER AND THE TRUSTEE) OR
(F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 

(C) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS NOTE OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF
THIS LEGEND. 
 PRIOR TO THE EXPIRATION OF THE RESTRICTED PERIOD APPLICABLE HERETO, BENEFICIAL INTERESTS HEREIN MAY NOT BE HELD BY ANY PERSON OTHER

  
 E-1 

 
THAN (1) A NON-U.S. PERSON OR (2) A U.S. PERSON THAT PURCHASED SUCH INTEREST IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT.

 AS USED HEREIN, THE TERMS “NON-U.S. PERSON,” “OFFSHORE TRANSACTIONS” AND “UNITED
STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS NOTE IN VIOLATION OF THE FOREGOING. 

  
 E-2 

 EXHIBIT F 

Regulation S Certificate 

_________, ____ 
 Wilmington Trust, National
Association 
 Global Capital Markets 
 50 South Sixth Street,
Suite 1290 
 Minneapolis, MN 55402 
 Attention: Viasat, Inc.
Administrator 
  

	 	Re:	 Viasat, Inc. 

6.500% Senior Notes due 2028 (the “Notes”) 

Issued under the Indenture (the “Indenture”) dated 

as of June 24, 2020 relating to the
Notes                     
 Ladies and Gentlemen:

 Terms are used in this Certificate as used in Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the
“Securities Act”), except as otherwise stated herein. 
 [CHECK A OR B AS APPLICABLE.] 

 

	 	☐	 A. This Certificate relates to our proposed transfer of $____ aggregate principal amount of Notes issued under
the Indenture. We hereby certify, represent and warrant as follows: 

  

	 	1.	 The offer and sale of the Notes was not and will not be made to a person in the United States (unless such
person is excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(vi) or the account held by it for which it is acting is excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(i) under the
circumstances described in Rule 902(h)(3)) and such offer and sale was not and will not be specifically targeted at an identifiable group of U.S. citizens abroad. 

 

	 	2.	 Unless the circumstances described in the parenthetical in paragraph 1 above are applicable, either (a) at
the time the buy order was originated, the buyer was outside the United States or we and any person acting on our behalf reasonably believed that the buyer was outside the United States or (b) the transaction was executed in, on or through the
facilities of a designated offshore securities market, and neither we nor any person acting on our behalf knows that the transaction was pre-arranged with a buyer in the United States. 

 

	 	3.	 Neither we, any of our affiliates, nor any person acting on our or their behalf has made any directed selling
efforts in the United States with respect to the Notes. 

  
 F-1 

	 	4.	 The proposed transfer of Notes is not part of a plan or scheme to evade the registration requirements of the
Securities Act. 

  

	 	5.	 If we are a dealer or a person receiving a selling concession, fee or other remuneration in respect of the
Notes, and the proposed transfer takes place during the Restricted Period (as defined in the Indenture), or we are an officer or director of the Company or an Initial Purchaser (as defined in the Indenture), we certify that the proposed transfer is
being made in accordance with the provisions of Rule 904(b) of Regulation S. 

  

	 	☐	 B. This Certificate relates to our proposed exchange of $____ aggregate principal amount of Notes issued under
the Indenture for an equal principal amount of Notes to be held by us. We hereby certify, represent and warrant as follows: 

  

	 	1.	 At the time the offer and sale of the Notes was made to us, either (i) we were not in the United States or
(ii) we were excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(vi) or the account held by us for which we were acting was excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(i)
under the circumstances described in Rule 902(h)(3); and we were not a member of an identifiable group of U.S. citizens abroad. 

  

	 	2.	 Unless the circumstances described in paragraph 1(ii) above are applicable, either (a) at the time our buy
order was originated, we were outside the United States or (b) the transaction was executed in, on or through the facilities of a designated offshore securities market and we did not pre-arrange the
transaction in the United States. 

  

	 	3.	 The proposed exchange of Notes is not part of a plan or scheme to evade the registration requirements of the
Securities Act. 

  
 F-2 

 You and the Company are entitled to rely upon this Certificate and are irrevocably
authorized to produce this Certificate or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

 

			
	Very truly yours,
	
	[NAME OF SELLER (FOR TRANSFERS) OR OWNER (FOR EXCHANGES)]
		
	By:	 	 
		 	Name:
		 	Title:
		 	Address:

 Date: _________________ 

  
 F-3 

 EXHIBIT G 

Rule 144A Certificate 
 _________,
____ 
 Wilmington Trust, National Association 
 Global Capital
Markets 
 50 South Sixth Street, Suite 1290 
 Minneapolis, MN
55402 
 Attention: Viasat, Inc. Administrator 
  

	 	Re:	 Viasat, Inc. 

6.500% Senior Notes due 2028 (the “Notes”) 

Issued under the Indenture (the “Indenture”) dated 

as of June 24, 2020 relating to the
Notes                     
 Ladies and Gentlemen:

 This Certificate relates to: 

[CHECK A OR B AS APPLICABLE.] 
  

	 	☐      A.	 Our proposed purchase of $____ aggregate principal amount of Notes issued under the Indenture.

  

	 	☐      B.	 Our proposed exchange of $____ aggregate principal amount of Notes issued under the Indenture for an equal
principal amount of Notes to be held by us. 

 We hereby confirm, represent and warrant that: 

 

	 	1.	 We and, if applicable, each account for which we are acting in the aggregate owned and invested more than
$100,000,000 in securities of issuers that are not affiliated with us (or such accounts, if applicable), as of _________, 20__, which is a date on or since close of our most recent fiscal year. 

 

	 	2.	 We and, if applicable, each account for which we are acting, are a qualified institutional buyer within the
meaning of Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended (the “Securities Act”). 

  

	 	3.	 If we are acting on behalf of an account, we exercise sole investment discretion with respect to such account.

  

	 	4.	 We are aware that the transfer of Notes to us, or such exchange, as applicable, is being made in reliance upon
the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A. Prior to the date of this Certificate we have received such information regarding the Company as we have requested pursuant to Rule 144A(d)(4) or have
determined not to request such information. 

  
 G-1 

 You and the Company are entitled to rely upon this Certificate and are irrevocably
authorized to produce this Certificate or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

 

			
	Very truly yours,
	
	[NAME OF PURCHASER (FOR TRANSFERS) OR OWNER (FOR EXCHANGES)]
		
	By:	 	 
		 	Name:
		 	Title:
		 	Address:

 Date: _________________ 

  
 G-2 

 EXHIBIT H 

Institutional Accredited Investor Certificate 

Wilmington Trust, National Association 
 Global Capital Markets

 50 South Sixth Street, Suite 1290 
 Minneapolis, MN 55402

 Attention: Viasat, Inc. Administrator 
  

	 	Re:	 Viasat, Inc. 

6.500% Senior Notes due 2028 (the “Notes”) 

Issued under the Indenture (the “Indenture”) dated 

as of June 24, 2020 relating to the
Notes                     
 Ladies and Gentlemen:

 This Certificate relates to: 

[CHECK A OR B AS APPLICABLE.] 
  

	 	☐      A.	 Our proposed purchase of $____ aggregate principal amount of Notes issued under the Indenture.

  

	 	☐      B.	 Our proposed exchange of $____ aggregate principal amount of Notes issued under the Indenture for an equal
principal amount of Notes to be held by us. 

 We hereby confirm, represent and warrant that: 

 

	 	1.	 We are an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or
(7) under the Securities Act of 1933, as amended (the “Securities Act”) (an “Institutional Accredited Investor”). 

  

	 	2.	 Any acquisition of Notes by us will be for our own account or for the account of one or more other
Institutional Accredited Investors as to which we exercise sole investment discretion. 

  

	 	3.	 We have such knowledge and experience in financial and business matters that we are capable of evaluating the
merits and risks of an investment in the Notes and we and any accounts for which we are acting are able to bear the economic risks of and an entire loss of our or their investment in the Notes. 

 

	 	4.	 We are not acquiring the Notes with a view to, or for offer or sale in connection with, any distribution
thereof in a transaction that would violate the Securities Act or the securities laws of any State of the United States or any other applicable jurisdiction; provided that the disposition of our property and the property of any accounts for
which we are acting as fiduciary will remain at all times within our and their control. 

  
 H-1 

	 	5.	 We understand and acknowledge that the offer and sale of the Notes have not been registered under the
Securities Act and that the Notes and any interest therein may not be offered or sold within the United States or to or for the benefit of U.S. persons except as set forth below. 

 

	 	6.	 The principal amount of Notes to which this Certificate relates is at least equal to $250,000.

 We agree for the benefit of the Company, on our own behalf and on behalf of each account for which we are acting, that
such Notes may be offered, sold, pledged or otherwise transferred only in accordance with the Securities Act and any applicable securities laws of any State of the United States and only (a) to the Company, (b) pursuant to a registration
statement which has become effective under the Securities Act, (c) to a qualified institutional buyer in compliance with Rule 144A under the Securities Act, (d) in an offshore transaction in compliance with Rule 904 of Regulation S under
the Securities Act, (e) in a principal amount of not less than $250,000, to an Institutional Accredited Investor that, prior to such transfer, delivers to the Trustee a duly completed and signed certificate (the form of which may be obtained
from the Trustee) relating to the restrictions on transfer of the Notes or (f) pursuant to an exemption from registration provided by Rule 144 under the Securities Act or any other available exemption from the registration requirements of the
Securities Act. We further agree to provide any Person purchasing any of the Notes from us in a transaction meeting the requirements of clauses (a) through (f) of this paragraph a notice advising such purchaser that resales thereof are
restricted as stated herein. We understand that, on any proposed resale of the Notes or beneficial interest therein, we shall be required to furnish to you and the Company such certifications, legal opinions and other information as you and the
Company may reasonably require to confirm that the proposed sale complies with the foregoing restrictions. 
 Prior to the registration of
any transfer in accordance with (c) or (d) above, we acknowledge that a duly completed and signed certificate (the form of which may be obtained from the Trustee) must be delivered to the Trustee. Prior to the registration of any transfer in
accordance with (e) or (f) above, we acknowledge that the Company reserves the right to require the delivery of such legal opinions, certifications or other evidence as may reasonably be required in order to determine that the proposed transfer
is being made in compliance with the Securities Act and applicable state securities laws. We acknowledge that no representation is made as to the availability of any Rule 144 exemption from the registration requirements of the Securities Act. 

We understand that the Trustee will not be required to accept for registration of transfer any Notes acquired by us, except upon presentation
of evidence satisfactory to the Company and the Trustee that the foregoing restrictions on transfer have been complied with. We further understand that the Notes acquired by us will be in the form of definitive physical certificates and that such
certificates will bear a legend reflecting the substance of the preceding paragraph. We further agree to provide to any person acquiring any of the Notes from us a notice advising such person that resales of the Notes are restricted as stated herein
and that certificates representing the Notes will bear a legend to that effect. 

  
 H-2 

 We agree to notify you promptly in writing if any of our acknowledgments, representations or
agreements herein ceases to be accurate and complete. 
 We represent to you that we have full power to make the foregoing acknowledgments,
representations and agreements on our own behalf and on behalf of any account for which we are acting. 
 You and the Company are entitled
to rely upon this Certificate and are irrevocably authorized to produce this Certificate or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

 

			
	Very truly yours,
	
	[NAME OF PURCHASER (FOR TRANSFERS) OR OWNER (FOR EXCHANGES)]
		
	By:	 	 
		 	Name:
		 	Title:
		 	Address:

 Date: _________________ 

  
 H-3 

 Upon transfer, the Notes would be registered in the name of the new beneficial owner as
follows: 
 By: _________________________________ 

Date: ________________________________ 
 Taxpayer ID
number: ___________________ 

  
 H-4

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